Snow Wright on May 24th the evening announcement said the company intends to shenzhen sea before daewoo capital management co., LTD. (hereinafter referred to as the "daewoo capital"), guiding fund within the scope of the government of guangdong province and social investors and financial institutions jointly sponsored jointly set up the total size is not less than RMB 300 million yuan of industry mergers and acquisitions fund, the fund's title is snow Wright daewoo industry mergers and acquisitions fund partnership (limited partnership) (also, specifically the name check for industry and commerce shall prevail, hereinafter referred to as the "merger"), the company will be subscribed investment of 90 million yuan.

Both sides of the integration of resources, with the aid of daewoo capital in equity investment in the field of rich experience and professional ability, will effectively increase the reserve company merger and acquisition project, improve efficiency of mergers and acquisitions, and directly promote the company to better grasp the emerging industry high-speed development opportunities and realize own expansion and industrial integration of strategic objectives.

Through mergers and acquisitions funds, will help to eliminate or dissolve the company mergers and acquisitions in advance of the early stage of the project decision-making risk, financial risk, industry risk, etc, or has a risk, to better protect the interests of the company and shareholders.