On 31 Mar 2008, the company received a judgment of first instance from the Foshan Intermediate People's Court of Guangdong Province on a lawsuit filed by the company and its subsidiaries against Guangdong Greencool Enterprise Development Co., Ltd. and a certain third party. Guangdong Greencool Enterprise Development disagreed with the judgment issued and appealed to the Guangdong Higher People's Court.

On 11 Nov 2008, the company received the final verdict of the Higher People's Court of Guangdong Province on the above-mentioned appeal, stating that the failure of the appellants to pay the court acceptance fees for the second instance within the prescribed period has been deemed an automatic withdrawal of the appeal. The judgment of first instance issued by the Foshan Intermediate People's Court shall be effective upon the service of the final verdict.

As of the date of this announcement, there are no remaining undisclosed lawsuits or rulings related to the company or its subsidiaries.

Board of Directors
12 Nov 2008


Source: Securities Times

Date: 13 Nov 2008

CN01/DC/LZ/JE/KM