Second-largest Shareholder Sells 30 Mln Shares

On 20 Nov 2008, Shenzhen Fuding Guarantee Investment Co., Ltd. (SFGI), the company's second-largest shareholder, and Shanghai Zhouji (Group) Co., Ltd. (SZCL) signed an equity transfer agreement. Under the agreement, SFGI will transfer 30 mln restricted shares of the company, equal to a 9.99% stake, to SZCL at an average price of RMB 2 per share for a total of RMB 60 mln. These restricted shares will become tradable on 28 Jun 2009.

Following the transaction, SZCL has replaced SFGI and is now the second largest shareholder of company, with SFGI the third largest.

Board of Directors
24 Nov 2008


Source: Shanghai Stock Exchange

Date: 24 Nov 2008

CN01/TW2/RL/VW