Shanghai Phoenix Enterprise (Group) Co., Ltd. (China)

JINSHAN DEVELOPMENT & CONSTRUCFION CO., LTD. was changed from "Phoenix Share" .The Company’s business was gradually shifted from bicycle manufacturing to real estate development, municipal infrastructure. As the only listed company under the Jinshan District National Assets Committee, the Company will position itself closely around the function of and will have new developments in the industrial park construction, infrastructure improvements and commercial and cultural facilities construction. Shanghai Jinshan Development Construction Investment Management Co., Ltd. set up by the Company mainly focus on the overall feasibility assessment for Shanghai Jinshan District Media Center" project' planned to be developed and constructed by the Company. The project has been classified as one of major projects in 2007 of Jinshan District Government with the total construction area of 30600 square meters. In June 2008 the Company signed the "Framework Agreement for Investment and Development of Shanghai Fengjing Industrial Zone" with Shanghai Feng Jing Industrial Zone. The two parties would cooperatively make one-level development and construction of industrial zone for two square kilometers of land. 400 million was planned to be invested. The project will help the company form a new profit growth point.