On 3 February 2009, we signed a strategic alliance agreement with China CNR Corporation (China CNR), a state-owned transportation equipment manufacturing enterprise. China CNR is a leading transportation equipment manufacturer in China and possesses internationally advanced design capabilities for automobile and train production. With the rapid development in the transportation sector, especially in areas such as express railways and metropolitan railways, China CNR has an increasing demand for high performance industrial aluminum extrusion products. As the world’s third largest and Asia’s and China’s largest aluminum extrusion products developer and manufacturer focusing on the transportation sector, we are able to satisfy the demands of CNR.

With regard to the strategic cooperation, we and China CNR have reached the framework agreement under which the supply and demand between the two parties will continue to increase in terms of product range and quantity. Meanwhile, China CNR promised to offer supports to our R&D in aluminum extrusion products for the transportation sector, whereas we will give priority to China CNR in the areas of production, sales order and delivery. Discounts will also be made on the products to China CNR when appropriate.

It is expected that the two parties will gain complementary advantages and achieve a win-win situation through the strategic alliance. As a result, we will thereby further enhance our R&D capability and production of aluminum extrusion products, maintain our leading position in the industry and contribute significantly to the supply of materials for the transportation sector.