On 17 April 2015, the application for the non-public offering filed by Shanghai Jinqiao Export Processing Zone Development Co., Ltd. (“Pudong Jinqiao”) was passed and approved by the Securities Public Offering Examination and Approval Committee of China Securities Regulatory Commission (CSRC).

Established in November 1992, Pudong Jinqiao has been dedicating to developing, operating, marketing and leasing real estate and constructing infrastructures.

The company intends to issue a limited number of 269 million shares to raise the funds for certain equity acquisition and project investment.

Grandall Shanghai Office has been retained as the issuer's counsel with Mr. LIU Wei, Mr. LI Peng, Ms. ZHOU Ruoting and Mr. ZHU Jiawei being key Grandall lawyers servicing the case.