-Liaoning Road&Bridge Construction Co.,ltd.

1. Basics

The time of establishment: Jan30, 1993

Address: 7 Huaxiang Rd, Tiexi District, Shenyang, P.R.China

Corporate type: medium-sized/ wholly state-owned

The industry affiliated: construction

The scope of operation: construction of road and bridge, technical consultation, processing, repairing and leasing of construction machinery; annual construction of roadbed and culvert of 100km, road surface of 90km,traffic work and safety work of 120km; class A general contractor of state road construction projects

Intangible assets: usufruct of ground, 214016.13m2

Staff: 2448 (1918 on the posts, 530 out of the posts, 745 in a specific technical field, all the staff are not free from state-owned status)

2. Corporate representative: Guangshan Wang

3. Capitalization: 238,000,000 (100% stockholder: State-owned Assets Supervision and Administration Commission of Liaoning Province).. 

subsidiary companies:  7 subsidairy companies and 1 holding company

4.  Current operation:

in 2004, sales revenue: 976,250,000, total profit: 8,710,000, net profit: 5,380,000

First half year in 2005, sales revenue: 521,600,000, Profit: -21,900,000

5. Financial state:

In 2004, total assets: 1,086,940,000, total debts: 708,500,000, ownership interests: 376,980,000 (paicl-up capital: 167,410,000 capital accumulation fund: 157,420,000, retained earnings: 64,250,000) account receivables: 443,570,000, account payables: 418,910,000, accumulative depreciation: 24,340,000, tax: 46,360,000 tax due: 11,980,000.

6.targeted development: transfer state-owned stocks, attract domestic and international strategic investors, found a joint-stock group with diversified investors, standard corporate management structure, clear ownership, well performing assets and flexible mechanism so to improve the competitiveness, influence and prestige realizing a annual operation volume of 100-200,000,000.

7.stock ownership right transfer: no limitation to proportion of state-owned stock ownership to be transferred

8. Requests to buyers:

Preference of the buyers is the international enterprises with strong capital, established reputation, advanced experience and management; good operating performance and development prospect; capacity of due payment of debts

9.  Contact to us:

a. Enterprise: Guodong Han

Tel: +86 024 25898581

Fax:+86 024 25895941

Address: 7 Huaxiang Rd, Tiexi District, Shenyang, P.R.China

Post code: 110022

E-mail: lnlqzhb@163.com

b. State-owned Assets Supervision and Administration Commission of Liaoning Province:

Qiong Wu, Renhe Zhao

Tel: +86 024 86903276

Fax: +86 024 86903276

Address: 45-22 Beiling Str., Huanggu District, Shenyang, P.R.China

Post code: 110032

E-mail: zcjyc@163.com

10. Declaration: all the data in this specification are shown in the account books in RMB. The net assets value of transferring stock ownership must be actual number after evaluation. This actual number will be the main basis of bottom price of market trade.