The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate and complete, and there are no false records, misleading statements or major omissions.
The company invested 65.52 million yuan to acquire 40 million shares of China Science and Technology International Trust Investment Co., Ltd. (hereinafter referred to as "China Science and Technology Trust") held by Foshan Nanfa Industrial Group in Guangdong Province and 9.52 million shares of China Science and Technology Trust Investment Co., Ltd The Beijing First Intermediate People's Court has decided in our favor on November 9 and December 24, 2006 respectively, and entered the court execution procedure for the two litigation matters brought for confirmation of rights. Relevant information has been disclosed in detail by the Company in China Securities Journal, Shanghai Securities News and subsequent regular reports of the Company on November 14 and December 26, 2006.
On November 17, 2007, according to the information center of the State Administration for Industry and Commerce, the above 40 million shares of China Science and Technology Trust held by the company have completed the industrial and commercial transfer registration procedures. The company's contribution is 40 million yuan, accounting for 7.67% of the shares of CITIC.
With regard to the transfer of 9.52 million shares of the stock option of China Science and Technology Trust, the court has decided that China Science and Technology Trust will return 8.3 million yuan and interest already contributed by our company. The case has been applied to the court for enforcement, and no new progress has been made.
In addition, the company from China CBRC According to the information disclosed on its website on November 12, China Banking Regulatory Commission (CBRC) has revoked China Science Trust according to law since November 6, 2007, and entrusted China Orient Asset Management Corporation (CEAMC) to form a liquidation team to settle in the company for liquidation.
The Board of Directors of the Company will continue to pay attention to and implement the implementation of the above cases or the liquidation of assets of China Science and Credit Corporation, actively safeguard the rights and interests of the Company, and disclose relevant information in a timely manner, inviting investors to pay attention to investment risks.
It is hereby announced that
Fujian The Board of Directors of Qingshan Paper Industry Co., Ltd
November 21, 2007
