Minimum Intraday Limit Reached

The company's A-stock price reached its minimum intraday limit in three consecutive trading sessions on 18, 19 and 20 Nov 2008, thus constituting an unusual price movement.

Following self-inspection and consultation with Shandong Commercial Group Co., Ltd., the company's controlling shareholder, the board of directors confirms that, apart from its disclosed statement on major assets swap and assets acquisition via private placement, which have been conditionally approved by the China Securities Regulatory Commission, there are no significant undisclosed issues, plans, negotiations, intents or agreements currently outstanding, pursuant to relevant regulations, nor are any such issues planned for the next two weeks that would materially impact the company's stock price and prices of its derivatives, including private placements, debt restructuring, business restructuring, asset stripping or injections.

The China Securities Journal, the Shanghai Securities News and the website of the Shanghai Stock Exchange (www.sse.com.cn) are the company's designated media for information disclosure. Investors are advised to exercise caution when dealing in the company's shares.

Board of Directors
21 Nov 2008


Source: Shanghai Stock Exchange

Date: 21 Nov 2008

CN01/RP/JL/VW/JW