Guoyuan Securities Company Limited

Headquartered in Hefei city, Anhui province, Guoyuan Securities is one of the full-licensed securities houses in the PRC. It was established in October 2001 by Guoyuan Holdings Limited Ltd together with another 12 entities. The China Association of Securities ranked Guoyuan Securities 8th for net assets (RMB 2.0 billion, S$410.6 million) and 12th for net profit (RMB45.9 million, S$9.3 million) amongst the 110 Chinese securities houses in 2004.

The principal business scopes of Guoyuan Securities include securities brokerage, proprietary trading, underwriting, and investment advisory of securities and trustee business. It has 35 branches covering financial capitals and major cities such as Beijing, Shanghai and Guangzhou. Guoyuan Securities became the largest shareholder of Changsheng in September 2004 and was approved by the authority to become one of the 13 securities houses permitted to conduct innovative securities business in November 2005.

DBS and DBS Asset Management

Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with almost five million customers and operations in 14 markets. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS'  "AA-" and "Aa2" credit ratings are among the highest in the Asia-Pacific region. DBS has leading positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in China, India, Indonesia, Malaysia, Thailand and The Philippines.

DBS Asset Management manages more than 60 mutual funds with a total AUM of approximate S$11billion for retail, private investors and institutions. DBSAM ranks among the most experienced and best known fund management companies in Asia. With offices in Singapore, Malaysia and Hong Kong, it manages funds for institutions and retail investors. As an award winning Asian fund manager with more than 22 years' experience, DBSAM delivers effective investment management solutions that cover the entire risk spectrum of asset classes, with core competency in global fixed income, Asian equities and absolute return strategies.

DBSAM is a wholly owned subsidiary of DBS. In the PRC, DBS has branches and representative offices in Shanghai, Beijing, Guangzhou, Shenzhen, Suzhou, Hangzhou, Fuzhou, Tianjin and Dongguan.

Anhui Provincial Innovative Investment Company Limited

Anhui Innovative is a state-owned enterprise owned by the provincial government of Anhui. It has a registered capital of approximately RMB 1.0bn (S$ 202.1 million) with total assets exceeding RMB 1.6 billion (S$ 327.1 million) at the end of 2005. Headquartered in Hefei city Anhui province, Anhui Innovative is responsible for the development, management and re-structuring of state assets assigned by the Anhui government. Anhui Innovative actively participates in direct investment and asset re-structuring of listed companies.

Anhui Provincial Investment Group Company Limited

Established in June 1998 and headquartered in Hefei city, Anhui Province, Anhui Investment is jointly owned by Anhui Railway Investment Construction Company, Anhui Provincial Development & Investment Company and Anhui Provincial Agricultural Investment Company. As at the end of 2005, the registered capital and total assets of Anhui Investment have reached RMB 1.2 billion (S$ 236.3 million) and RMB 21.3 billion (S$ 4.3 billion). It is a state-owned investment holding company with nine wholly-owned subsidiaries and investments in industrial, agricultural, infrastructure, real estates and securities sectors. These include strategic interests in Anhui-based enterprises such as Chery Motors, Conch Cement, Anhui Hualing Heavy Automobile and China Petrochem.