July 24th afternoon, President Xu Liankuan on behalf of Zonda Group, and President Jeff Egan on behalf of Gainstreamn International Company (“GIC”, USA company) signed a letter of intent to establish a new Joint Venture located in Yancheng with total investment of US Dollars 10 million.

The new JV will manufacture and assemble exhaust systems by applicating the new patent technology from USA, which will improve the operation for trucks, buses, fleet and other engines and vehicles.

Mr. Gu Ruhua, director of Yancheng Automobile Industry Office, Mr. Zhang Yuqing, Vice Chairman of Zonda Group, Mr. Li Taohong, Chairman of Zonda Board Supervisor, and Mr. Zhuang Xinbao, Vice President of Zonda Group also attended this ceremony.