The company received a notice from Wang Shiquan and Yang Ning, both shareholders of Guangxi Guofa Investment Group Co., Ltd., with 53,488,120 restricted shares of the company, equal to a 19.15% stake, stating that on 13 Oct 2008, Wang Shiquan and Yang Ning signed an equity transfer agreement with Shanghai Tongsheng Investment Co., Ltd. to sell their respective 60% and 40% stakes in Guangxi Guofa to Shanghai Tongsheng.

As such, Shanghai Tongsheng will become the effective controller of the company, with a 19.15% stake in the company by wholly owning Guangxi Guofa. The controlling shareholders of the company will remain unchanged following the transfer.

Board of Directors
13 Oct 2008


Source: Shanghai Stock Exchange

Date: 14 Oct 2008

CN01/TW/SW/BT/KM