Date: 2013-07-31

Xiangyang Automobile Bearing Share Co., Ltd. Appoints CFO

Xiangyang Automobile Bearing Share Co., Ltd. Appoints CFO

Xiangyang Automobile Bearing Share Co., Ltd. announced the appointment of Mr. Zhang Liang as Chief Financial Officer in the Company, effective on April 23, 2008.

Xiangyang Automobile Bearing Share Co., Ltd., formerly known as Xiangyang Bearing Factory, is a manufacturer and exporter of automobile bearings in China. The Company's product portfolio includes bearings, transmission shafts and bearing parts. During the year ended December 31, 2006, the Company obtained approximately 90% of its total revenue from its bearings business. In 2006 the Company distributed its products mainly to central and north of China, which approximately accounted for 51% of the Company's total revenue. As of December 31, 2006, the Company had two major associates. The Company is headquartered in Xiangfan, Hubei Province, China.

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