The application for the IPO of Jiangsu Transportation Research Institute Co., Ltd. (“JSTRI”) has been passed and approved on the 46th meeting of the Securities Public Offering Examination and Approval Committee for GEM of China Securities Regulatory Commission (“CSRC”) on July 12, 2011.

The business scope of JSTRI covers industries such as highway, municipal, hydraulic, railway, urban rails, aerial, architecture and environmental evaluation. JSTRI has become an corporate enterprise group involved with planning consultancy, survey and design, scientific research, testing and detection, consultancy of quality management and R&D of new materials, new technologies and new products as its core businesses.

JSTRI intends to offer 60,000,000 shares (accounting for 25% of its total issued shares) for investment in the construction of design advising center. Grandall Shanghai Office has been retained as the Issuer's Counsel. Mr. LV Hongbing and Mr. FANG Xiangyong are the key Grandall attorneys servicing JSTRI.