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Director’s Report
December 7,2007
Dear Sir or Madam,
During the year,although there were many difficulties in selling and marketing due to the unexpected economic decline and depreciation of U.S.dollar,it was suggested that the steady increase in our profits were still maintained.The following is the account for the year under review:Net Profit $ 8,300,000
Amount brought forward from last year $ 45,000
Total Profit $ 8,345,000
Interim Dividend $ 100,000
Balance $ 8,245,000
The Directors retiring by rotation are Mr.Liu Chaochun and Ms.Jiang Xiaobo,both of whom take part in re-election.
The auditors of the Company,Michael Boll and Carlos Cohen want to serve us in the coming year and the resolutions to their remuneration will be made at the meeting.
The Board of Directors
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