On April 1, Zhejiang Guangbo Group Stock Co., Ltd held the 11th meeting of the third board of directors. All the directors of the company attended this meeting, all the supervisors and senior managers attended the meeting as a non-voting delegates. The meeting was hosted by President Wang Liping.

At the meeting, firstly general manager Wang Liping made 2008 general manager working report. He pointed out in 2008 the company had good performances in various targets previously set by the company, through moderately increasing price to protect clients, developing new item to promote development. After giving deep perception of serious condition the advantages faced by the enterprise in the report, it put forward the working thought of the year 2009. He emphasized in 2009 the company will further set about the company’s inner management, completely improve the team’s comprehensive quality and executive ability as basis, improve operation efficiency and enhance management benefit as core, make efforts on strengthening market developing ability and product innovation ability, make full use of the shuffling opportunity of market survival of the fittest, continuously push all-round development of the company.

Later, examined by the directors, this meeting passed many proposals like 2008 board of directors working report (draft), the company 2008 annual reports on final accounts, the company 2008 allocation of profits preplan, special report on annual fund-raising deposit and usage, proposal on 2009 daily affiliated transaction, proposal on applying 2009 composite line of credit from various banks, proposal on providing warranty for subsidiary companies, proposal on amending articles of association, report on 2008 internal control self-assessment, proposal on final report of the accounting firm dealing with the compnay’s audit work of last year and continuing contract with the accounting firm.

The directors showed, in face of the austere cold winter this macro environment, we have confidence in defeating difficulties, have confidence in seeking new developing opportunity from crisis. We will through making full use of policy advantage and resources superiority, gradually promote transformation and upgrading of Guangbo, gather more strength for further development.