The tranquil flow of time brings us great memories. Memories are what I like. Everything that is in our memories, be it the ups and downs in the past days or the bitterness or sweetness of life, is actually blessing and wealth in our life. Also in our memories there are many things reminding us of our history. These, no matter about adversity or success, have built a strong cornerstone for us to become what we are today. Ever since we started our real estate business, we have been closely focusing on the development of downtown projects and we have never shifted away from this focus in spite of our strategic transformations. Instead of blindly expanding or following the trend, we are committed to achieving a properly oriented growth by devotedly improving the quality and services of our projects and building a solid foundation for enhancing our own strength. Along with our growth, we are recognizing how a company should exist in harmony with the society it is serving. While seeking to create greater economic value, as every other company is trying to do, we are also building the cultural value of “loyalty, diligence, agility and can-do” as an underpinning of our development. We help our staff members to achieve an excellent vision of social value and take this as our mission and obligatory social responsibility. Having this in mind, we keep an eye on the social needs and are engaged in charity work not for fame but for the public good. Twenty years have passed since we started up and we have made successful steps forward. This is credited to the dogged fixity of purpose, indomitable spirit and selfless teamwork of every one in our organization together with the generous support from all our stakeholders. Looking into the next twenty years, we see more ambitious targets and more arduous tasks. Under our overall strategy of building high-end urban complexes, we will achieve excellence in our projects, improve our management and encourage innovation, with a view to develop Zhaotai into a truly time-honored business both with legacy and in constant progress. I hope all of us at Zhaotai and our friends will see it together.

Mme.Mu Qiru Chairman of Zhaotai Group December 2012, Beijing