Press Release

JPMFC Acted as the Sole Lead Underwriter on First Tranche of RMB 700 Million Enterprise Bond Offering for Liling State-owned Assets Investment and Management Co., Ltd.

J.P. Morgan First Capital (JPMFC) acted as the sole lead underwriter, launched the RMB 700 million, 7-year enterprise bond offering for Liling State-owned Assets Investment and Management Co., Ltd. (The Company) on May 20th, 2014, and successfully completed the offering on May 23rd, 2014. This bond issuance was approved by NDRC with a total size of RMB 1 billion with the 1st tranche issued for a size of 0.7 billion. The 2nd tranche will be issued according to both the financial condition of the Issuer and situation of the bond market.