The board meeting of Lianovation has approved a motion on the agreement of a further investment, in which RMB 100 million more fund would be placed on Xiamen Hongfa Electroacoustic with a condition precedent co-signed by Xiamen Hongfa Electroacoustic and ST Hongfa on 27th December.
 
In view of its capital status and future prospect, Lianovation agrees to place a further investment of RMB 100 million on Xiamen Hongfa Electroacoustic, prices of which to be confirmed as per the evaluation of Xiamen Hongfa Electroacoustic by 31th December 2012. The auditing and evaluation was under way by the opening of boarding meeting, announcement of which will be disclosed in due course.