Pursuant to a recent notice from Sinhoo Holding Co., Ltd., the company's controlling shareholder, it plans to transfer all of its 110,493,993 shares in the company, equal to a 30.59% stake, to Zhejiang Sinhoo Group Co., Ltd., in which Sinhoo Holding holds an 80.29% stake. Relevant contracts will be signed in the near future.

Pursuant to relevant regulations, the company will apply for resumption of trading in its shares on 20 Oct 2008.

Board of Directors
17 Oct 2008


Source: Shanghai Stock Exchange

Date: 20 Oct 2008

CN01/BJ/JL/BT/KM