Successful RMB 13.3 Mln Bid for Land Use Rights

Recently, Harbin High-tech (Group) Real Estate Development Co., Ltd. (HHGRED), a subsidiary in which the company holds a 99.98% stake, won a RMB 13.3 mln bid to acquire the land use rights to a plot of land located in the Daoli district of Harbin which covers an area of 8,727 sq. meters.

The land will be used for the construction of commercial buildings and has a planned construction area of 68,245 sq. meters. Construction is scheduled between July 2009 and Dec 2011.

Board of Directors
17 Oct 2008


Source: Shanghai Stock Exchange

Date: 20 Oct 2008

CN01/SS/MR/JE/MM