Jiangsu Chunlan Refrigerating Equipment Stock Co.,Ltd. (China)

The company specializes in the production and sale of air conditioners. Chunlan Group, a major shareholder, concentrating manufacturing, research and investment, is one of the largest 50 business groups. Now it has an annual output of 500 million sets, ranking top at home. The company plans to set up 15,000 points of sale from 2006 to 2007 so as to make the commercial networks cover all the cities, counties and parts of core towns. In sales channels, we will build a free national network instead of being dependent on sales agents once. In September 2009, with 75% stake in Suzhou Chunlan and other assets, we got 10% stake of Taizhou Power Plant, 60% stake and 156000 square meters of land of Taizhou Starwise Real Estate Company owned by Chunlan Group. After the transaction, we will expand new main business and allow the company embarked on the track of healthy development. Company was profitable in 2008 and from January to September in 2009, A shares resumed trading at the Shanghai Stock Exchange on November 13, 2009.