The company plans to guarantee up to RMB 5 mln on a one-year line of credit with a bank in Baicheng for its subsidiary, Baicheng Tianqi Equipment & Machinery Co. Ltd.

As of the date of this announcement, guarantees approved by the company totaled RMB 15 mln but no actual guarantee had been provided. There are no outstanding overdue guaranteed loans.

Board of Directors
10 May 2008


Source: www.cninfo.com.cn

Date: 10 May 2008

CN01/SW/BT/GB