Introduction of Hongrun Construction Group Co., Ltd.

Hongrun Construction Group Co., Ltd. (hereinafter referred to as the Company or the Company) is a joint venture company established by Zheng Hongfang and He Xiuyong of Xiangshan Municipal Engineering Construction Company, Xiangshan Second Light Industry Cooperative Association and Shanghai Longhua Real Estate Development and Management Company (now renamed Shanghai Longhua Real Estate Co., Ltd.) with the approval of Ningbo Municipal People's Government 194253. On February 29th, 20 10, the company was registered in Ningbo Administration for Industry and Commerce with the registration number of 25407343-7 (now 3302002006757) and obtained the Business License of Enterprise as a Legal Person with a registered capital of RMB 42.8 million.