HANGZHOU HUAXING CHUANGYE COMMUNITY TECHNOLOGY CO., LTD. obtained a 60% interest of Zhejiang Mingxun Network Technology Co., Ltd through the way of purchasing and capital increasing on March 31, 2010. As a high-tech enterprise engaged in providing mobile communication technology service and developing communication application software, Mingxun Network deals with the third party mobile network evaluation optimization service, just the same as HUAXING does. Mingxun Passed ISO9001 Quality System Authentication in 2004 and currently mainly offers services such as network planning, network optimization, network evaluation, network maintenance, inspection and receipt of interior coverage, relocation and opening of base station equipments.

  HUANGXING CHUANGYE plans to obtain a 60% interest of Zhejiang Mingxun Network Technology Co., Ltd. through the way of purchasing and capital increasing with over-collected fund and self-possessed fund aggregated to 66 million yuan. The company purchased a 20% interest from the original shareholders of Mingxun Network with 46 million yuan. At the same time, the company also increased a capital of 20 million yuan to Mingxun Network, among which 5 million yuan were added to registered capital and the rest were listed as capital accumulation fund. After the capital increasing, the company enjoys a 60% interest of Mingxun Network.

  Please find the details in the post of Investment Management on the website of HUAXING CHUANYE.  (April 2, 2010)

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