Stake Price Adjusted to RMB 209 Mln

At the 5th Meeting of the 4th Board of Directors, held on 27 Oct 2008, the following proposals were examined and approved:

1. the 3Q 2008 Report
2. to adjust the transaction price for transferring a 95.51% stake in Qingdao Aucma New Energy Technology Co., Ltd. (New Energy)
As approved at the 2nd Meeting of the 4th Board of Directors, the company plans to transfer its 95.51% stake in New Energy to Qingdao Aucma Asset Management Co., Ltd., a subsidiary, for RMB 180.27 mln.

Following assessment, there exists great discrepancy between the transaction price and the fair value of the target equity, which was RMB 209,073,000 on 30 Apr 2008.

Following negotiation, the transaction price is adjusted to RMB 209,073,000.

Board of Directors
28 Oct 2008


Source: Shanghai Stock Exchange

Date: 28 Oct 2008

CN01/NS/VW/MR/NK/KM