Overview

The year 2009 has been a very difficult year for us. In 2009, the subsidiaries of China Great Land Holdings Ltd. (“the Company”) took great pains to retain and enhance market share, consequently strengthening our position as market leader in our core Pre-Stressed High Strength Concrete (“PHC”) pile business in Hainan province in the People’s Republic of China (“PRC”). Our principal subsidiary, Hainan Pearl River Pile Co., Ltd (“HPRP”) was certified as one of “Hainan Famous Trademarks” in November 2009 by Hainan Province’s relevant authority. Total revenue of the Company and its subsidiaries (“the Group”) increased significantly compared to 2008, reaching a historical high of RMB171.5 million, 23% more than revenue achieved in 2008. However, the Hainan construction industry continued to be affected by competitive and poor economic conditions, together with persistently high raw material prices, our gross margins declined significantly and level of bad debts remain high. The Group suffered a full year net loss of RMB26.8 million.

 
Our factory in Sanya is expected to further increase its annual production volume in 2010.

We expect to resume production of aerated concrete (“ACC”) in 2010.

ACC is a strong, lightweight and heat resistant material with the ability to retain heat.

 
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Ms Li Zhangjiang De Malca
(Executive Chairman and Managing Director)


Mr Cui Zhongwei
(Executive Director)
Mr Li Baogang
(Non-Executive Director)
Mr Toh Hai Joo
(Independent Director)
Mr Tan Huay Pin
(Independent Director)

 
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HOLDINGS LTD.” under
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