Salutatory from President of the Board :

　 In the past twenty years, China Baixing Group Limited Company have gone through the stage of undertaking, experienced the ups and downs in the market and made great achievements in business , With the concerns and supports from the government and friends in society and hard works of all the staff in Baixing Group, we have brought about changes from quantitative to the qualitative. Nowadays, we have developed into a large company group featuring industry manufacturing, construction, trading, financing, property etc.and extended to many fields in business ranging from。manufacturing in industry to real estate . By the end of 2006, the company has made a greater achievement with more than 10 billion Yuan annual sale. Gratitude should be paid to the source of benefits. Thanks to the great efforts by staffs in our group and the supports and concerns from governments and society, we made the great achievements. We hereby pay our sincere and heartfelt gratitude to those who have offered their concerns, helps, supports and efforts to us in the past. It is a long-term and hard task to run and develop an enterprise. Therefore, we will still stick to the pioneering spirit and exert all our strength to the development of our group. On the other hand, we will introduce the new and scientific moder enterprise system to improve the level of the management and service of the group and strengthen the competitive power of the group in business. In the near future, we can open up a new situation of development by the mutual efforts of all staffs in the group. Facing the new situation in society, we are confident that we can take all the chanlleges and catch all the opportunities endowed by society. In order to keep pace with the development of the time, we will make full use of the superiority and resource at hand, strengthen the power of the group, meet the demands of society, and exert all our strength to a new development in business. We believe that we can make greater contributions to the construction of the harmonious society through our efforts.

　　　　　　　　　　　　Board Chairman：