On December 28th, 2007, our company signed a contract with Hefei State-Owned Property Holding Co., Ltd., i.e. “Carte Blanche Management Contract of Hefei Meishan Hotel” that grants the investment on Hefei Meishan Hotel (Built under the four-star standard). From January 1st, 2008 to December 31st, 2010, our company will have three years’ Carte Blanche Management for the hotel. This means our company is making inroads into the hotel market in Hefei of Anhui Province.

On January 15th, 2008, our company signed a contract with Liyang Tianmu Lake Nanshan Bamboo Ocean Spa resorts Co., Ltd., i.e. “Project Consultation Contract of Jiangsu Liyang Tianmu Lake Spa Resort Hotel” that grants our investment on Gaoyou Huaqiao International Hotel (Built under the five-star standard). From January 15th, 2008 to December 31st, 2010, our company will provide project consultation for the hotel. This means our company is making inroads into the hotel market in the southern region of Jiangsu Province.

On September 1st, 2007, our company signed a contract with Ningbo Zhong Yi Industrial Co., Ltd., i.e. “Star-Upgraded Management Contract of Ningbo ZhongYi Business Hotel”. From September 1st 2007 to August 31st 2008, our company will implement Star-Upgraded management in this hotel. Meanwhile, we will carry out reconstruction and plan to have passed assessment of four-star hotel by 2008.

On May 7th, 2007, our company signed a contract with Yangzhou Ouya Real Estate Development Co., Ltd., i.e. “Carte Blanche Management Contract of Jiangsu Gaoyou Huaqiao International Hotel” that grants our investment on Gaoyou Huaqiao International Hotel (Built under the four-star standard). From May 16th, 2007 to May 15th, 2010, our company will provide project consultation and opening management for the hotel. After it formally opens up, we will have three years’ Carte Blanche Management. This means our company is making inroads into the hotel market in the midst Jiangsu Province.

On March 20, 2007, our company signed a contract with Suqian New City Real Estate Development Co., Ltd., i.e. “Carte Blanche Management Contract of Suqian Jiangshan Hotel” that grants our investment on Suqian Jiangshan Hotel (Built under the four-star standard). From March 20, 2007 to December 31, 2010, our company will provide project consultation and opening management for the hotel. After it formally opens up, we will have three years’ Carte Blanche Management. This means our company is making inroads into the hotel market in the northern Jiangsu Province.

On December 15, 2006, we signed with Cixi Yangtze Woolen Products Co., Ltd. “Project Advisory Service Contract” that we will invest to build Cixi Yangtze Hotel (Built under the four-star standard), and will provide it with a series of advisory services such as pre-planning, market position, the initial function distribution, economic estimation, carte blanche management, and document preparation of contractual operation.

On November 15, 2006, our company signed with Xizi Union Holding Co., Ltd. “Project Advisory Service Contract” that we plan to invest to build Hualin Plaza Hotel (Built under five-star standard) in Qingyang, Anhui Province, and will provide it with a series of advisory services such as pre-planning, market position, the initial functional distribution, economic estimation, carte blanche management, and document preparation of contractual operation. This has enhanced the brand influence of our company in Anhui province, and the cooperation with large-scale private enterprise has reached a new level.