On November 5, 2010, the application for the IPO of Shenzhen Changhong Mold Technology Co., Ltd. (“Changhong Technology”) has been passed and approved in the 68th meeting of the Securities Public Offering Examination and Approval Committee for GEM of China Securities Regulatory Commission (“CSRC”).

Changhong Technology is one of the leading companies engaging in the research, development, design, production, injection molding and sale of precise non-metallic molds in China. Its main products include components of OA equipments and their injection molding, such as copy machine and printer, etc. Its innovation of mold structure takes a leading position in the industry. Changhong Technology is the first company in the industry that has been certified as a company with advanced technology at the state level.

Changhong Technology intends to offer 17 million shares (accounting for 25.37% of its total issued shares) to raise money for four projects, including enlargement and technological modification of OA products.

Grandall Shenzhen Office has been retained as the Issuer's Counsel. Mr. CAO Pingsheng and Mr. TANG Duyuan are the two key Grandall attorneys involved in this transaction.