On November 8, 2010, the application for the IPO of Zhejiang Shimge Pump Industry Co., Ltd. (“Zhejiang Shimge”) has been passed and approved in the 203rd meeting of the Securities Public Offering Examination and Approval Committee of China Securities Regulatory Commission (“CSRC”). 

Zhejiang Shimge is a company with new and advanced technology. It mainly engages in such business as the research, development, production and sale of various agricultural pumps. Since its establishment, Zhejiang Shimge has been focusing on developing its own brand. During the period from year 2007 to 2009, its sales volume for agricultural pumps has consistently maintained in the No. 1 position in the industry.

Zhejiang Shimge intends to offer 20 million shares (accounting for 25% of its total issued shares) to raise money for two projects, including agricultural-pump project with an annual production capacity of manufacturing one million sets and construction project of a technology centre.

Grandall Hangzhou Office has been retained as the Issuer's Counsel. Mr. ZHANG Limin, Ms. YU Tingting and Ms. MENG Jia are the three key Grandall Lawyers servicing Zhejiang Shimge.