The company signed a letter of intent (LOI) with Sichuan Shifang People's Government and Beijing Automotive Industry Holding Co., Ltd. on 3 Nov 2008. Under the terms of the LOI the three parties will establish an auto parts production base in Shifang City to develop the auto parts industry there.

In addition, the company plans to establish a professional sales company and an after-sale service company in Shifang City.

Board of Directors
4 Nov 2008


Source: Shanghai Stock Exchange

Date: 4 Nov 2008

CN01/MZ/LZ/JE/KM