On May 6th, 2009, the first meeting of board of directors and shareholders of Caofeidian Holding Co., Ltd. was held in the Conference Room of Tangshan Jinjiang International Hotel. Xu Wei, vice president of the company, chaired the meeting, and Yao Zimin delivered an important speech, who is the secretary of Municipal Standing Committee and the Party Working Committee of Caofeidian New Area, dean of Management Committee, and concurrently the secretary of Tanghai County Committee as well as chairman of Caofeidian Holding Co., Ltd. Present the meeting were Dong Xiaobing, deputy dean of SASAC, Wang Huiliang, dean of the Party and Political Office of Caofeidian New Area, Li Wenxiu, director of Caofeidian Holding Co., Ltd., Qi Hong, general manager of Beijing Ruiyi Investment Co., Ltd., Wang Jian, deputy general manager of Beijing Shiji Shengxuan Investment Co., Ltd., Gong Hao, vice general manager of Beijing Shangluo Investment Management Co., Ltd., and Zhao Yuqiao, director of Jiujiang Wire Material Co., Ltd. of Tangshan Great Wall Iron and Steel Group Co., Ltd.

In the meeting, Yao Zimin was elected to be chairman of Caofeidian Holding Co., Ltd. and Xu Wei and Qi Hong, vice director of the board. A series of personnel management systems including internal organization, staffing, personnel management practices, performance assessment management system, and compensation management practices were discussed and adopted. So did issues relating to change of company name, capital injection of shareholders and equity change, the withdrawal of Tangshan Kaiyuan Real Estate Co., Ltd., amendment to the Articles of Association, the purchase of value-added invoices from Tangshan Commercial Bank Co., Ltd., and the comprehensive residential building development and construction in cooperation with the Management Committee of Caofeidian International Ecological City.

It was agreed that Caofeidian is a favorable place. No development of Caofeidian, No future, No development of the Bohai Sea Region, No get-together. Companies aim to get profits and achieve win-win. We should be honest and industrious and constantly innovative, achieving maximum business values.