On July 22, 2015, the Company convened the 20^th session of the 4^th board of directors to deliberate and adopt the draft resolutions relating to the non-public offering of shares as the Draft Resolution of the Company on the Non-public Offering Plan.

The Company intended to offer at most 47million of shares privately to six subscribers including the controlling shareholder Sinolight Corporation at the rate of at least RMB 14.89 per share to raise at most RMB 700 million, RMB 400 million of which would be spent on increasing capital and controlling stocks of Changsha Chaint Machinery Co., Ltd. and the project of improving quality and expanding output of intelligent equipment and the remaining RMB 300 million would go to the project of expanding general engineering contracting. After being fully funded, the Company would, by increasing capital and controlling shares of Changsha Chaint Machinery Co., Ltd. extend the industrial chain of the Company for general contracting to achieve synergy effects for business integration and expand business scale of the Company on one hand; and promote transformation of the Company to intelligent manufacturing, realize diversification of revenues and promote performance growth of the Company on the other hand; in the meantime, the boom of capital will also enhance the ability of the Company to general engineering contracting.