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●　Hot News   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 February 28, 2007, our company signed a contract with Ningbo Xiangyuan Hotel Co., Ltd., i.e. “Carte Blanche Management Contract of Ningbo Xiangyuan Hotel”. From March 1, 2007, our company will implement carte blanche management in this hotel. Meanwhile, we will carry out reconstruction and plan to have passed assessment of four-star hotel by 2008.   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.