Progress in Share Reform

The company's holders of non-tradable shares are currently negotiating with related parties on issues regarding the resumption of its share reform procedures.

On 11 Jun 2008, the company retained Guo Hai Securities Co., Ltd. as its sponsoring institution and Wang Xu as sponsor representative for its share reform.

The board of directors is urging holders of the company's non-tradable shares to come to an agreement within the prescribed time period and to produce detailed plans regarding the re-initiation of the company's share reform.

Board of Directors
24 Oct 2008


Source: Securities Times

Date: 27 Oct 2008

CN01/IS/RL/LZ/JE/KM