In a statement filed with the Shanghai Stock Exchange on 23 May, China Minsheng Banking Corp. Ltd (600016) announced it will shelve the auction of its 134,407,099 yuan-denominated A-shares of Beijing Haitong Securities (600837), as the auction failed to attract any bidders.

The 134 million plus shares of Beijing Haitong were originally commissioned to Yonghe Jiacheng Auction Co. Ltd for auction on 23 May 2008 at 2:30 pm. No potential buyers had registered for the bidding within the specified period.

Lock-up period for the shares will expire on 29 Dec 2008. On 22 May 2008 Haitong Securities paid out its profit distribution for 2007. It issued a stock dividend of seven shares from its capital reserve, three bonus shares (taxes included) and a cash dividend of RMB 1.00 (taxes included) for every 10 shares. After the profit distribution scheme was implemented, closing price of the company's shares was RMB 25.89 per share.

Source: China Securities Journal

Date: 23 May 2008

CN01/MZ/AR/KM