As to being listed as a dishonest person by Shanghai No.1 Intermediary People’s Court, our Company makes the statement as follows: The reason for our company to be listed as a dishonest person is that a Company named Bright Path Holdings Limited （ Bright Path） brought up a law suit against our Company for the payment formed before the bankruptcy restructuring thereof and after the bankruptcy restructuring thereof had finished and the shareholder of our Company had changed according to the bankruptcy restructuring plan approved by the Wuxi Municipal Intermediary People’s Court (the Court). Our Company always discharges its responsibility and shall not escape any debt that our Company should have to pay, provided, however , that our Company will investigate and defend those claims which are groundless and cause our doubts. Due to the payment claim raised by Bright Path was established before the bankruptcy restructuring thereof and was not confirmed by the bankruptcy administrator, our Company takes it for granted that those debts should have been paid according to the bankruptcy restructuring plan . Besides, Bright Path wan one of our Company’s connected entities . In one word, the debts claimed by Bright Path had nothing to do with the present managing body of our company. Now Jiangsu Taihu Law Firm is retained to apply for retrial before the Supreme Court of the People’s Republic of China and the application thereof has already been entertained. Our Company is communicating with Shanghai No.1 Intermediary People’s Court and expecting that our Company will be removed from the list of dishonesty.