The company's stock price reached its minimum intraday limit over three consecutive sessions on 8 ,9 and 10 Oct 2008, thus constituting an unusual price movement.

Following consultation, it has been confirmed by both controlling shareholders and the effective controller Yang Jianglong that there are no significant undisclosed matters outstanding, including private placement, asset and business restructuring, asset stripping or asset injection.

In addition, the board of directors confirms that there are no significant undisclosed issues, nor related plans, negotiations, intentions or agreements outstanding, pursuant to relevant regulations, nor is there any remaining undisclosed information that would materially impact the company's stock price.

The Shanghai Securities News, the China Securities Journal and the website of the Shanghai Stock Exchange (www.sse.com.cn) are the company's designated media for information disclosure. Investors are advised to exercise caution when dealing in the company's shares.

Board of Directors
13 Oct 2008


Source: Shanghai Stock Exchange

Date: 13 Oct 2008

CN01/CJ/JL/BT/KM