The Achievements of Property Right Exchange.

> 10% stock right transfer of Shanghai LunShi Advertisement Co., Ltd.
> 50% stock right transfer of Shanghai ZhongYong Trade Co., Ltd.
> whole property right transfer of Shanghai BangDa Printing Company.
> 100% stock right transfer of Shanghai WuHuan Container Transportation Co., Ltd.
> Stock right transfer of Shanghai HuaYin Real Estate Development Co., Ltd.
> Whole property right transfer of Shanghai XingZhou Industry Company.（Including audit, appraisal, 
    property right exchange） 
> 30% stock right transfer of Shanghai Ba Xing Trade Development Co., Ltd.
> 35% stock right transfer of Shanghai Wei Zun Environment Protection Equipments Co. Ltd.
> 100% stock right transfer of Shanghai Xin An Meng Real Estate.
> 100% stock right transfer of Shenzhen HuaBao（Shanghai）Property Management Company.（Including audit, appraisal, property right exchaneg, industrial and commercial alternation）  
   　   　   

 Typical Cases of Reorganization and M&A.

Assets reorganization case of Chongqing Tire Factory:

　　Chongqing Tire General Factory is a state-owned sole-invested enterprise of Chongqing City. The reorganization was very important to the enterprise which couldn’t liquidate due liabilities due to serious insolvency. Its bankruptcy application was accepted by local People’s Court and it went intothe procedure of bankruptcy and liquidation.

       We made particular and detailed report for the reorganization and found the intended transferee. In the report, we certified the reorganized assets and described the quality of reorganized assets. We also put forward many important issues related to reorganized assets. We analyzed and explained the current situation of reorganized assets from different angles such as social and legal aspects. Because the Tire Factory belongs to state-owned enterprise, we made full consideration and analysis of the impact on the government. The enterprise finally finished reorganization successfully with our efforts and cooperation.