Company Profile For Guangzhou Shipyard International Co Ltd

Guangzhou Shipyard International Company Limited is engaged in the shipbuilding industry. The principal business of the Company includes shipbuilding, steel structure engineering, and other mechanical and electrical equipment. In addition to large vessels, the Company’s products include steel structure’s manufacturing, coating and erecting for bridges and high-rise construction and large-size pipe, manufacturing and installing of passenger/goods lift, foils and studs for hydrofoil, port machinery, hydraulic machines, production line for external painted steel plates of refrigeration, and design and manufacturing of crane machinery. As of December 31, 2008, the Company operated in two segments: shipbuilding, and steel structure and other manufacturing. The shipbuilding segment includes the construction and trading of vessels. The steel structure and other manufacturing segment include the manufacturing and trading of steel structure, and mechanical and electrical equipment.

BRIEF: For the nine months ended 30 September 2009, Guangzhou Shipyard International Company Limited's total revenues grew 5% to RMB5.06B. The Company's net income decreased 41% to RMB405.1M. Total revenues reflect a slight increase in sales of the Company's products. Net income was offset by increased general and administrative expense, lower investment and non-operating income, as well as higher loss on change of fair value.