According to preliminary data released by its finance department, the company's net profit for the first three quarters of 2008 is estimated to have decreased by between 50% and 90％, compared to the same period in 2007, when its net profit was RMB 90,189,600 and EPS was RMB 0.099 .

The weak performance is mainly attributable to the company's declining core business and the unconfirmed earnings from the rights transfer of a developing Zhaoqing project of the company.

Detailed figures pertaining to the company's financial status can be found in its 3Q 2008 Report.

Board of Directors
16 Oct 2008

Source: Shanghai Stock Exchange

Date: 16 Oct 2008

CN01/CJ/JL/BT/KM