What is the relationship between Wal-Mart SZITIC Department Store Co., Ltd. and Wal-Mart (China) Investment Co., Ltd.

From June 5438 to February 2003, Wal-Mart China Co., Ltd. invested nearly US$ 45 million, and its equity was changed to 65%, and SZITIC correspondingly changed to 35%. In the same month, Wal-Mart China Co., Ltd. transferred its equity investments in Shenzhen Wal-Mart Zhujiang Department Store Co., Ltd. and Dalian Wal-Mart Department Store Co., Ltd. to Wal-Mart (China) Investment Co., Ltd. The registered capital of Wal-Mart (China) Investment Co., Ltd. increased from USD 30 million to USD 96,878,750.

Shenzhen International Trust and Investment Corporation (hereinafter referred to as "SZITIC") is a financial institution formally established with the approval of the People's Bank of China and the Shenzhen Municipal People's Government. 1In August, 1995, Shenzhen Wal-Mart Zhujiang Department Store Co., Ltd. (renamed Wal-Mart SZITIC Department Store Co., Ltd. in 2003, hereinafter referred to as "Wal-Mart SZITIC Department Store") was established by SZITIC and Wal-Mart in the United States, and jointly operated commercial retail business.