Date: 2013-07-31

Xibei Bearing Co., Ltd. to Receive General Value-Added Tax Refund

Xibei Bearing Co., Ltd. announced that Ningxia Commissioner Office of Ministry of Finance of the People's Republic of China has agreed to refund general value-added tax of RMB 3,752,836.96 for the second quarter of fiscal 2008 to the Company.

Xibei Bearing Co., Ltd. is principally engaged in the manufacture and distribution of various rolling bearings, under the brand name of NXZ. The Company provides over 3,000 types of bearings under nine series. The Company distributes its products in the domestic market (excluding Tibet) and the overseas markets, including Asia, Europe and the Americas. As of December 31, 2007, the Company had three major subsidiaries/associates.

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