Company Profile For Shanghai Shi Mao Co., Ltd.

ShangHai ShiMao Co., Ltd is principally engaged in the development and distribution of real estate. The Company's main projects include Fuzhou Shimao Bund Garden, Nanjing Shimao Riviera New City, Kunshan Shimao Commercial Plaza and Shanghai Shimao Lakeside Garden. The Company operates its business mainly in Shanghai, Fuzhou, Fujian Province and Nanjing, Jiangsu Province. As of December 31, 2008, the Company had five major subsidiaries, engaged in the development of real estate, as well as the distribution of construction, decoration and upholsters materials.

BRIEF: For the nine months ended 30 September 2009, Shanghai ShiMao Company Limited's revenues increased 96% to RMB824.5M. Net income totalled RMB92.4M, up from RMB6.8M. Revenues reflect increased sales due to favorable market conditions. Net income also benefited from higher gain from fair value change, investment income and lower net non-operating loss compared with the corresponding period last year.