PDF《OUR HISTORY AND REORGANISATION》

OUR CORPORATE HISTORY Our history can be traced back to

1999 when we opened our first dealership store in Shanghai, which primarily sells Nissan automobiles.

Since 1999, we have rapidly expanded our automobile dealership business. In 2004, we commenced the winding down of our commercial vehicles sales business to sharpen our business focus on our automobile dealership business. We have successfully expanded our automobile dealership business to

14 cities in both the large, established automobile markets of the affluent regions of China, such as Beijing, Shanghai, Guangzhou, Dongguan and Zhuhai as well as the rapidly developing regions where we expect substantial demand for premium branded automobiles from an increasingly affluent Chinese population, such as Inner Mongolia, Hunan, Hubei and Jiangxi. As of

30 June 2010, we operated

22 dealership stores, and in addition have entered into letters of intent for one BMW dealership store in Guangzhou and one Audi dealership store in Shanghai, which are expected to commence operations by the end of 2010. To further strengthen our relationships with automobile manufacturers and complement our automobile dealership business, we established our automobile logistics business in 2002. Leveraging the existing network of our automobile dealership and logistics businesses, we also established our lubricant oil trading business in 2008, to capture the growing demand of the automobile market and provide better services to our customers at our 4S dealership stores. In addition, our Group has received from certain automobile manufacturers notices of approval as pre-qualified candidates (or, as the case may be, our Group entered into letters of intent with such automobile manufacturers) to set up nine 4S dealership stores at selected cities to service particular areas or regions. Under such notices or letters of intent, we have to carry out certain major steps, before formal dealership authorization agreements will be made by such automobile manufacturers with our Group. Steps have been taken by our Group to establish the relevant operating entities and the dealership stores. OUR BUSINESS MILESTONES The following are important milestones in the history of our business development to date: Year Milestone

1999 ? Established our first dealership store, which was also our first Nissan dealership and our first dealership store in Shanghai

2001 ? Established the Operation and Management Committee, which promoted and initiated our Group'

s management by a professional managerial team

2002 ? Established our first Audi dealership store and our first dealership store in Hubei province ? Commenced operation of our logistics services business

2003 ? Established our first dealership store (Dongfeng Nissan dealership store) in Inner Mongolia

2004 ? Established our first BMW dealership store (Wuhan) ? Established our first Hyundai dealership store (Wuhan)

2005 ? Established our first Chevrolet dealership store (Wuhan) ? Established our first dealership store in Hunan Province (BMW/MINI dealership store)

2008 ? Established our first dealership store in Guangdong province (BMW/MINI dealership store) ? Established our first dealership store BMW in Jiangxi Province ? Commenced operation of our lubricant oil trading business

2009 ? Established our first dealership store in Beijing (BMW dealership store) ? Established our first Porsche dealership store in Dongguan OUR HISTORY AND REORGANISATION THIS WEB PROOF INFORMATION PACK IS IN DRAFT FORM. The information contained in it is incomplete and is subject to change. This Web Proof Information Pack must be read in conjunction with the section headed '