Zhongtian Securities

Zhongtian Securities Co., Ltd. (formerly Zhongtian Securities Co., Ltd. as a limited-liability company) was approved by the China Securities Regulatory Commission in July 2004 and completed its industrial and commercial registration on 14 July 2004, and was formed through the restructuring of the securities assets of Liaoning Oriental Securities, Liaoning Trust Investment, Liaoning International Trust Investment, and Liaoning Huasheng Trust Investment. The company is the sole state-owned securities firm of Liaoning Province with registered capital of 2.225 billion yuan and shareholders comprising the Liaoning State-owned Assets Supervision and Administration Commission, Benxi Iron and Steel Group, Liaoning Investment Group, Liaoning Fisheries Group, Northern United Publishing and Media Group, and Liaoning Energy Investment Group, engaged in securities brokerage, proprietary trading, underwriting and sponsorship, asset management, margin financing and securities lending, investment advisory, fund distribution, and introducing brokerage for futures companies.