I. Project Name
Xinwang International Shopping Mall

II. Project Implementation Agency
Shaanxi Xinwang Real Estate Co., Ltd.
Shaanxi Xinwang Real Estate Co., Ltd. was founded in April 2004, with a registered capital of 12 million Yuan. The overall strength of the company is powerful. It has a lot of specialized talents and its main business is real estate development. Since its establishing, it exercises human-orientated management, the enterprise philosophy of “Honesty, practice, professionalization, high efficiency and innovation” and the preferential treatment of its kind, which attracted and stimulates the excellent management, marketing and engineering talents.
Since two years, it independently developed the second stage project of Shiguyuan Residential Zone. The total investment is 130 million Yuan. At present 90% of engineering construction sales income has been completed. The first stage about 14 buildings of Petroleum Steel Tube Company has a total construction area of 80000m² and the total investment is 95 million Yuan. The agent requisition and construction work has been completed for two years, which is awarded by real estate administration bureau, planning bureau, and urban construction bureau and owner unit. At present, the second stage agent requisition and construction work has begun; the total construction area of the project is nearly 100,000 m² and the total investment is 110 million Yuan. Now it is implemented fully. The preparing water landscape high rise building-Shuian Huafu of Shiguyuan Residential Zone is about 50000 m² and the investment is about 100 million Yuan. After the project is completed, it will become the symbol building and the first crystal building in Jinwei Lake area. The constructing Xinwang International Shopping Mall has been included into 2007 Key Construction Projects of Baoji.

III. Project Description
Xinwang International Shopping Mall lies in the core business meeting place of four roads, namely, north side of Jing'er road, west side of Xinkai road, south side of Jingyi road, east side of Hanzhong Road. It has a covered area of 8.9 mu and a total construction area of 19600m². The total investment is 101.4191 million Yuan. Its orientation is a business and trading center integrating shopping, recreation and amusement. The project is estimated to be built in the end of 2007. At that time, it will supply over 700 employment positions for the society.

IV. Total Investment and Cooperation Form
Total investment of the project is 101.4191 million Yuan. 20 million Yuan is intended to be financed. Cooperation form: Joint management or leasing management.

V. Anticipation of Market and Analysis of Investment Return
1. Anticipation of market: (1) the underground floor and the first and second floor are sold as commercial stall. The third to the sixth floor are fully leased. Through marketing department’s full investigation and referring to sales situation of the commercial stall adjacent to Jing’er Road, the average price of the first floor is confirmed to be 35000 Yuan / m² temporarily, the underground floor and the second floor is confirmed to be 12000 Yuan/m²; namely, 35000 Yuan / m² × 2800m² ×first floor = 98 million Yuan, 12000 Yuan/m² × 2800 m²× the second floor = 67.20 million Yuan. The total sales income of sales part is estimated to be 165.2 million Yuan. (2) The annual revenue of the lease part is about 9.5 million Yuan.
2. Analysis of investment return: after the project is completed, the sales income and 5 years rent is 212.72 million Yuan. The total investment of the construction is estimated to be 107.1 million Yuan. The business cost of the project is 25.15 million Yuan. The net profit (before tax) of the project is 80.47 million Yuan.

Contact Person: Duan Yongcui
Telephone: 0917-3562989　13909172875
Address: No. 3, Binhe Road, Baoji City, Shaanxi Province