In October 2012, our Company established the Executive Committee, which currently consists of nine members, namely Mr. Gu Weiguo, Ms. Chen Jing, Ms. Huo Xiaoyu, Mr. Wang Liuqi, Mr. Dai Xu, Ms. Zhu Ruimin, Mr. Wu Jianhui, Mr. Li Shuhua and Mr. Wu Chengming. Mr. GuWeiguo currently serves as the chairman of the Executive Committee. The Executive Committee is the highest management body of our Company. The primary duties of the executive committee include, but are not limited to, the following:

To implement the Company’s operational policies formulated by the Board and to decideon the major issues relating to the Company’s operation and management;

To formulate the Company’s financial budgets;

To formulate the Company’s plans of final financial accounts, profit distribution plans and recovery of losses;

To formulate the Company’s plans for any change of its registered capital and issuance of bonds;

To formulate the Company’s plans for merger, division, modification and dissolution;

To formulate the Company’s operational plans and plans of investment, financing and assets disposal and to report to the Board pursuant to its authority;

To formulate the Company’s internal management organizational structure plan;

To formulate and approve the employees remuneration plans and reward and penalty plans; and

Other power authorized by the Board.

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