January 23, 2014

The Shanghai Stock Exchange ("SSE") recently released the Memorandum No. 10 on Information Disclosure for Major Asset Restructuring of Listed Companies – Continuous Information Disclosure of Restructuring Companies (the "Rules").

According to the Rules, if information in public media or market involves major asset restructuring of a listed company and might cause or have caused major influence on the trading prices of the company's shares or their derivatives, the listed company shall pay attention thereto in a timely manner, and provide SSE with the sources of such information and the replies from its controlling shareholders or real controllers on whether matters involving its major asset restructuring exist or at present and in the next three months, and shall release an announcement thereon.

(Source:LexisNexis)