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Share Name | Share Symbol | Market | Type |
---|---|---|---|
China Mass Media Corp American Depositary Shares (Each Representing 300 Ordinary Shares) | NYSE:CMM | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.20 | 0.00 | 01:00:00 |
n
|
Total net revenues were RMB75.8 million (US$11.5 million), a decrease of 35.3% from the fourth quarter of 2009 and an increase of 38.4% from the third quarter of 2010.
|
n
|
Operating income was RMB28.4 million (US$4.3 million), a decrease of 22.5% from the fourth quarter of 2009 and an increase of 127.5% from the third quarter of 2010.
|
n
|
Net income was RMB19.0 million (US$2.9 million), a decrease of 40.6% from the fourth quarter of 2009 and an increase of 195.4% from the third quarter of 2010.
|
n
|
Net cash inflows from operating activities were RMB
15.9
million (US$
2.4
million), compared to with net cash outflows from operating activities of RMB171.9 million in the fourth quarter of 2009 and net cash inflows from operating activities of RMB54.5 million in the third quarter of 2010.
|
n
|
Total net revenues were RMB243.4 million (US$36.9 million) in 2010, a decrease of 40.9% from 2009.
|
n
|
Operating income was RMB62.9 million (US$9.5 million) in 2010, a decrease of 30.7% from 2009.
|
n
|
Net income was RMB39.9 million (US$6.0 million) in 2010, a decrease of 53.9% from 2009.
|
n
|
Basic and diluted earnings per ADS were RMB1.52 (US$0.23) in 2010, a decrease of 53.8% from RMB3.29 in 2009.
|
- U.S. Toll Free Number:
|
+1 866 270 6057
|
|
- U.S. Toll Number:
|
+1 617 213 8891
|
|
- Hong Kong Toll Free Number:
|
+800 96 3844
|
|
- South China Toll Free Number/ China Telecom
|
10 800 130 0399
|
|
- North China Toll Free Number/ China Telecom
|
10 800 152 1490
|
|
- South China Toll Free Number/ China Telecom
|
10 800 852 1490
|
|
Passcode: CMM
|
- U.S. Toll Free Number:
|
+1 888 286 8010
|
|
- International dial-in number:
|
+1 617 801 6888
|
|
Passcode:
|
61418727
|
THREE MONTHS ENDED,
|
||||||||||||||||
Dec 31,
2009
|
Sep 30,
2010
|
Dec 31,
2010
|
Dec 31,
2010
|
|||||||||||||
RMB
|
RMB
|
RMB
|
US$
|
|||||||||||||
Revenues:
|
||||||||||||||||
Advertising agency services
|
117,037,636 | 46,604,275 | 69,441,672 | 10,521,465 | ||||||||||||
Advertisement production and sponsorship services
|
5,323,585 | 10,708,029 | 11,445,226 | 1,734,125 | ||||||||||||
Total Revenues
|
122,361,221 | 57,312,304 | 80,886,898 | 12,255,590 | ||||||||||||
Less: Business tax
|
(5,201,731 | ) | (2,561,134 | ) | (5,102,111 | ) | (773,047 | ) | ||||||||
Total net revenues
|
117,159,490 | 54,751,170 | 75,784,787 | 11,482,543 | ||||||||||||
Operating costs and expenses:
|
||||||||||||||||
Cost of revenues
|
(67,347,729 | ) | (31,954,073 | ) | (33,652,251 | ) | (5,098,826 | ) | ||||||||
Sales and marketing expenses
|
(6,559,458 | ) | (3,595,523 | ) | (4,131,716 | ) | (626,018 | ) | ||||||||
General and administrative expenses
|
(6,614,127 | ) | (6,712,846 | ) | (9,588,120 | ) | (1,452,745 | ) | ||||||||
Total operating costs and expenses
|
(80,521,314 | ) | (42,262,442 | ) | (47,372,087 | ) | (7,177,589 | ) | ||||||||
Operating income
|
36,638,176 | 12,488,728 | 28,412,700 | 4,304,954 | ||||||||||||
Interest and investment income
|
1,090,272 | 1,482,268 | 1,646,857 | 249,524 | ||||||||||||
Other income/ (expense), net
|
458,323 | (3,071,458 | ) | (2,413,292 | ) | (365,650 | ) | |||||||||
Income before tax
|
38,186,771 | 10,899,538 | 27,646,265 | 4,188,828 | ||||||||||||
Income tax expenses
|
(6,182,706 | ) | (4,465,167 | ) | (8,641,741 | ) | (1,309,355 | ) | ||||||||
Net income
|
32,004,065 | 6,434,371 | 19,004,524 | 2,879,473 | ||||||||||||
Net income available to ordinary shareholders
|
32,004,065 | 6,434,371 | 19,004,524 | 2,879,473 | ||||||||||||
Earnings per ordinary share, basic
|
0.041 | 0.008 | 0.024 | 0.0037 | ||||||||||||
Earnings per ordinary share, diluted
|
0.041 | 0.008 | 0.024 | 0.0037 | ||||||||||||
Earnings per ADS, basic
|
1.22 | 0.24 | 0.73 | 0.1106 | ||||||||||||
Earnings per ADS, diluted
|
1.22 | 0.24 | 0.72 | 0.1096 | ||||||||||||
Shares used in calculating earnings per ordinary share, basic
|
788,012,500 | 788,012,500 | 784,690,106 | 784,690,106 | ||||||||||||
Shares used in calculating earnings per ordinary share, diluted
|
790,162,309 | 788,702,468 | 788,060,137 | 788,060,137 | ||||||||||||
Shares used in calculating earnings per ADS, basic
|
26,267,083 | 26,267,083 | 26,156,337 | 26,156,337 | ||||||||||||
Shares used in calculating earnings per ADS, diluted
|
26,338,744 | 26,290,082 | 26,268,671 | 26,268,671 |
YEAR ENDED
,
|
||||||||||||||||
Dec 31,
2008
|
Dec 31,
2009
|
Dec 31,
2010
|
Dec 31,
2010
|
|||||||||||||
RMB
|
RMB
|
RMB
|
US$
|
|||||||||||||
Revenues:
|
||||||||||||||||
Advertising agency services
|
334,052,626 | 397,279,413 | 222,298,472 | 33,681,587 | ||||||||||||
Advertisement production and sponsorship services
|
34,934,895 | 30,304,634 | 34,151,752 | 5,174,508 | ||||||||||||
Total Revenue
|
368,987,521 | 427,584,047 | 256,450,224 | 38,856,095 | ||||||||||||
Less: Business tax
|
(16,005,683 | ) | (16,021,579 | ) | (13,046,869 | ) | (1,976,798 | ) | ||||||||
Total net revenues
|
352,981,838 | 411,562,468 | 243,403,355 | 36,879,297 | ||||||||||||
Operating costs and expenses
|
||||||||||||||||
Cost of revenues
|
(203,399,803 | ) | (270,239,024 | ) | (127,654,373 | ) | (19,341,572 | ) | ||||||||
Sales and marketing expense
|
(8,204,365 | ) | (17,362,444 | ) | (16,993,454 | )) | (2,574,766 | ) | ||||||||
General and administrative expenses
|
(24,486,814 | ) | (33,193,760 | ) | (35,832,156 | )) | (5,429,115 | ) | ||||||||
Total operating costs and expenses
|
(236,090,982 | ) | (320,795,228 | ) | (180,479,983 | ) | (27,345,453 | ) | ||||||||
Operating income
|
116,890,856 | 90,767,240 | 62,923,372 | 9,533,844 | ||||||||||||
Interest and investment income
|
15,102,846 | 9,494,036 | 5,257,307 | 796,562 | ||||||||||||
Other income/ (expense), net
|
(1,441,420 | ) | 532,325 | (6,765,851 | ) | (1,025,129 | ) | |||||||||
Income before tax
|
130,552,282 | 100,793,601 | 61,414,828 | 9,305,277 | ||||||||||||
Income tax expense
|
(20,138,650 | ) | (14,327,931 | ) | (21,522,126 | ) | (3,260,928 | ) | ||||||||
Net income
|
110,413,632 | 86,465,670 | 39,892,702 | 6,044,349 | ||||||||||||
Net income allocated to participating preferred shares
|
(9,751,329 | ) | - | - | - | |||||||||||
Net income available to ordinary shareholders
|
100,662,303 | 86,465,670 | 39,892,702 | 6,044,349 | ||||||||||||
Earnings per ordinary share, basic and diluted
|
0.17 | 0.11 | 0.05 | 0.0076 | ||||||||||||
Earnings per ADS, basic
|
5.12 | 3.29 | 1.52 | 0.23 | ||||||||||||
Earnings per ADS, diluted
|
5.12 | 3.28 | 1.52 | 0.23 | ||||||||||||
Shares used in calculating earnings per ordinary share, basic
|
589,764,324 | 788,012,500 | 787,181,901 | 787,181,901 | ||||||||||||
Shares used in calculating earnings per ordinary share, diluted
|
589,764,324 | 789,860,806 | 788,662,085 | 788,662,085 | ||||||||||||
Shares used in calculating earnings per ADS, basic
|
19,658,811 | 26,267,083 | 26,239,397 | 26,239,397 | ||||||||||||
Shares used in calculating earnings per ADS, diluted
|
19,658,811 | 26,328,694 | 26,288,736 | 26,288,736 |
Dec 31,
2009
|
Dec 31,
2010
|
Dec 31,
2010
|
||||||||||
RMB
|
RMB
|
US$
|
||||||||||
Assets
|
||||||||||||
Current assets
|
||||||||||||
Cash and cash equivalents
|
508,778,014 | 544,427,828 | 82,489,065 | |||||||||
Restricted cash
|
10,000,000 | 1,515,151 | ||||||||||
Short-term investments
|
80,000,000 | 150,000,000 | 22,727,273 | |||||||||
Notes receivable
|
1,937,450 | 5,892,690 | 892,832 | |||||||||
Accounts receivable, net
|
375,568 | 991,024 | 150,155 | |||||||||
Prepaid expenses and other current assets
|
66,560,752 | 41,794,343 | 6,332,476 | |||||||||
Total current assets
|
657,651,784 | 753,105,885 | 114,106,952 | |||||||||
Non-current assets
|
||||||||||||
Property and equipment, net
|
55,464,401 | 58,602,500 | 8,879,167 | |||||||||
Total non-current assets
|
55,464,401 | 58,602,500 | 8,879,167 | |||||||||
Total assets
|
713,116,185 | 811,708,385 | 122,986,119 | |||||||||
Liabilities and Shareholder’s Equity
|
||||||||||||
Current liabilities:
|
||||||||||||
Accounts payable
|
50,446,460 | 156,494,604 | 23,711,303 | |||||||||
Customer advances
|
20,657,147 | 39,311,493 | 5,956,287 | |||||||||
Accrued expenses and other current liabilities
|
17,776,049 | 23,848,004 | 3,613,334 | |||||||||
Taxes payable
|
20,519,899 | 30,194,919 | 4,574,988 | |||||||||
Amount due to related parties
|
127,068,624 | 53,237,048 | 8,066,219 | |||||||||
Total current liabilities
|
236,468,179 | 303,086,068 | 45,922,131 | |||||||||
Total Liabilities
|
236,468,179 | 303,086,068 | 45,922,131 | |||||||||
Shareholders’ equity
|
||||||||||||
Ordinary shares ($0.001 par value; 900,000,000,000 shares authorized; 716,375,000 shares and 788,332,360 shares issued and outstanding as of December 31, 2009 and December 31, 2010)
|
4,893,500 | 5,381,321 | 815,352 | |||||||||
Additional paid-in capital
|
332,354,066 | 361,736,018 | 54,808,488 | |||||||||
Statutory reserves
|
25,000,000 | 25,000,000 | 3,787,879 | |||||||||
Retained earnings
|
114,400,440 | 126,034,102 | 19,096,076 | |||||||||
Treasury shares (13,860,000 ordinary shares)
|
(9,529,124 | ) | (1,443,807 | ) | ||||||||
Total Shareholders’ Equity
|
476,648,006 | 508,622,317 | 77,063,988 | |||||||||
Total Liabilities and Shareholder’s Equity
|
713,116,185 | 811,708,385 | 122,986,119 |
THREE MONTHS ENDED
|
||||||||||||||||
Dec 31,
2009
|
Sep 30,
2010
|
Dec 31,
2010
|
Dec 31,
2010
|
|||||||||||||
RMB
|
RMB
|
RMB
|
US$
|
|||||||||||||
Cash flows from operating activities:
|
||||||||||||||||
Net income
|
32,004,065 | 6,434,371 | 19,004,524 | 2,879,473 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||||||||||
Depreciation expense
|
795,561 | 774,606 | 998,519 | 151,291 | ||||||||||||
Investment income
|
(703,452 | ) | (1,140,083 | ) | (1,352,712 | ) | (204,956 | ) | ||||||||
Exchange (gain)/ loss
|
36,929 | 3,308,936 | 2,828,718 | 428,594 | ||||||||||||
Share-based compensation
|
(332,378 | ) | 215,601 | 185,129 | 28,050 | |||||||||||
Disposal of property and equipment
|
(294,175 | ) | (44,572 | ) | ||||||||||||
Changes in assets and liabilities:
|
||||||||||||||||
Increase in restricted banking accounts
|
- | - | (10,000,000 | ) | (1,515,151 | ) | ||||||||||
Notes receivable
|
455,010 | - | (5,892,690 | ) | (892,832 | ) | ||||||||||
Accounts receivable, net
|
345,109 | 5,634,850 | 3,616,518 | 547,957 | ||||||||||||
Prepaid expense and other current assets
|
(29,549,359 | ) | 4,256,345 | 10,821,091 | 1,639,559 | |||||||||||
Amount due from a related party
|
1,000,000 | - | - | - | ||||||||||||
Accounts payable
|
(135,696,443 | ) | 19,248,859 | 30,821,414 | 4,669,911 | |||||||||||
Customer advances
|
(39,071,097 | ) | 15,051,709 | 1,820,668 | 275,859 | |||||||||||
Accrued expenses and other current liabilities
|
2,377,821 | 770,278 | 3,971,639 | 601,763 | ||||||||||||
Taxes payable
|
4,838,144 | 97,832 | 6,490,390 | 983,392 | ||||||||||||
Amount due to related parties
|
(8,364,350 | ) | (123,360 | ) | (47,129,920 | ) | (7,140,897 | ) | ||||||||
Net cash provided by/ (used in) operating activities
|
(171,864,440 | ) | 54,529,944 | 15,889,113 | 2,407,441 | |||||||||||
Cash flows from investing activities:
|
||||||||||||||||
Net proceeds from redemption / (purchase) of short-term investments
|
- | (190,000,000 | ) | 140,000,000 | 21,212,121 | |||||||||||
Purchase of long-term investment on behalf of shareholder
|
- | - | - | - | ||||||||||||
Purchase / (disposal) of property and equipment
|
(644,551 | ) | (6,408,266 | ) | 245,812 | 37,244 | ||||||||||
Proceeds from investment income
|
726,247 | 1,140,082 | 1,027,233 | 155,642 | ||||||||||||
Net cash provided by/ (used in) investing activities
|
81,696 | (195,268,184 | ) | 141,273,045 | 21,405,007 | |||||||||||
Cash flows from financing activities:
|
||||||||||||||||
Repurchase stocks on open market
|
- | (9,529,124 | ) | (1,443,807 | ) | |||||||||||
Net cash used in financing activities
|
- | - | (9,529,124 | ) | (1,443,807 | ) | ||||||||||
Effect of foreign currency exchange
|
(36,928 | ) | (3,308,936 | ) | (2,828,718 | ) | (428,594 | ) | ||||||||
Net increase / (decrease) in cash and cash equivalents
|
(171,819,672 | ) | (144,047,176 | ) | 144,804,316 | 21,940,048 | ||||||||||
Cash and cash equivalents at beginning of the period
|
680,597,686 | 543,670,688 | 399,623,512 | 60,549,017 | ||||||||||||
Cash and cash equivalents at end of the period
|
508,778,014 | 399,623,512 | 544,427,828 | 82,489,065 |
YEAR ENDED
|
||||||||||||||||
Dec 31,
2008
|
Dec 31,
2009
|
Dec 31,
2010
|
Dec 31,
2010
|
|||||||||||||
RMB
|
RMB
|
RMB
|
US$
|
|||||||||||||
Cash flows from operating activities:
|
||||||||||||||||
Net income
|
110,413,632 | 86,465,670 | 39,892,702 | 6,044,349 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||||||||||
Depreciation expense
|
1,045,357 | 3,074,157 | 3,324,151 | 503,659 | ||||||||||||
Investment income
|
(9,772,000 | ) | (5,994,921 | ) | (3,819,737 | ) | (578,748 | ) | ||||||||
Exchange (gain)/ loss
|
1,440,592 | 363,439 | 7,628,472 | 1,155,829 | ||||||||||||
Share-based compensation
|
1,699,429 | 2,139,736 | 1,478,227 | 223,974 | ||||||||||||
Disposal of property and equipment
|
- | - | (281,912 | ) | (42,714 | ) | ||||||||||
Changes in assets and liabilities:
|
||||||||||||||||
Increase in restricted banking accounts
|
- | - | (10,000,000 | ) | (1,515,151 | ) | ||||||||||
Notes receivable
|
- | (1,937,450 | ) | (3,955,240 | ) | (599,279 | ) | |||||||||
Accounts receivable, net
|
(9,067,862 | ) | 13,991,625 | (615,456 | ) | (93,251 | ) | |||||||||
Prepaid expense and other current assets
|
(13,963,074 | ) | (29,448,793 | ) | 30,701,202 | 4,651,697 | ||||||||||
Amount due from related parties
|
(1,000,000 | ) | 1,000,000 | - | - | |||||||||||
Accounts payable
|
211,538,660 | (279,638,966 | ) | 106,048,144 | 16,067,901 | |||||||||||
Customer advances
|
(24,463,189 | ) | (54,765,336 | ) | 18,654,346 | 2,826,416 | ||||||||||
Accrued expenses and other current liabilities
|
9,010,938 | 4,010,959 | 6,071,954 | 919,993 | ||||||||||||
Taxes payable
|
5,693,062 | (857,216 | ) | 4,236,552 | 641,902 | |||||||||||
Amount due to related parties
|
169,162,446 | (87,952,669 | ) | (47,500,000 | ) | (7,196,970 | ) | |||||||||
Net cash provided by/ (used in) operating activities
|
451,737,991 | (349,549,765 | ) | 151,863,405 | 23,009,607, | |||||||||||
Cash flows from investing activities:
|
||||||||||||||||
Net proceeds from redemption / (purchase) of short-term investments
|
(280,000,000 | ) | 420,000,000 | (70,000,000 | ) | (10,606,061 | ) | |||||||||
Purchase of long-term investment on behalf of shareholder
|
15,037,390 | - | - | - | ||||||||||||
Purchase of property and equipment
|
(6,685,021 | ) | (23,451,242 | ) | (32,506,088 | ) | (4,925,165 | ) | ||||||||
Proceeds from investment income
|
9,153,918 | 6,602,921 | 3,450,093 | 522,741 | ||||||||||||
Net cash provided by/ (used in) investing activities
|
(262,493,713 | ) | 403,151,679 | (99,055,995 | ) | 15,008,484 | ||||||||||
Cash flows from financing activities:
|
- | - | ||||||||||||||
Proceeds from the issuance of ordinary shares
|
287,744,060 | - | - | - | ||||||||||||
Proceeds from the issuance of preferred shares
|
603 | - | - | - | ||||||||||||
Investment held on behalf of shareholders
|
(15,043,236 | ) | - | - | - | |||||||||||
Payment for the restructuring process of stripping debt
|
(2,683,208 | ) | (15,000,000 | ) | - | - | ||||||||||
Dividends distributed
|
(29,194,814 | ) | (96,335,115 | ) | - | - | ||||||||||
Repurchase stocks from open market
|
(9,529,124 | ) | (1,443,807 | ) | ||||||||||||
Net cash used in financing activities
|
240,823,405 | (111,335,115 | ) | (9,529,124 | )) | (1,443,807 | ) | |||||||||
Effect of foreign currency exchange
|
(1,440,592 | ) | (378,046 | ) | (7,628,472 | ) | (1,155,829 | ) | ||||||||
Net increase / (decrease) in cash and cash equivalents
|
428,627,091 | (58,111,247 | ) | 35,649,814 | 5,401,487 | |||||||||||
Cash and cash equivalents at beginning of the period
|
138,262,170 | 566,889,261 | 508,778,014 | 77,087,578 | ||||||||||||
Cash and cash equivalents at end of the period
|
566,889,261 | 508,778,014 | 544,427,828 | 82,489,065 |
THREE MONTHS ENDED
|
||||||||||||
Dec 31,
2009
|
Sep 30,
2010
|
Dec 31,
2010
|
||||||||||
Number of programs secured during the period
|
41 | 35 | 35 | |||||||||
Total advertising time obtained
(
seconds
)
|
2,933,640 | 2,621,970 | 2,676,240 | (1) | ||||||||
Total advertising time sold
(
seconds
)
|
746,667 | 114,185 | 212,040 | (2) |
(1)
|
Represents the total amount of time during regular television programs secured through our contracts with CCTV, including 265,680 seconds from CCTV-1, CCTV-2 and CCTV-4 and 2,410,560 seconds from CCTV-E and CCTV-F.
|
(2)
|
During the three-month periods ended December 31, 2009, September 30, 2010 and December 31, 2010, the company has sold 392,160, 19,680 seconds and 39,120 seconds of advertisements in CCTV-E and CCTV-F.
|
YEAR ENDED
|
||||||||||||
Dec 31,
2008
|
Dec 31,
2009
|
Dec 31,
2010
|
||||||||||
Number of programs secured during the period
|
40 | 41 | 35 | |||||||||
Total advertising time obtained
(
seconds
)
|
6,818,220 | 11,660,760 | 10,515,960 | (3) | ||||||||
Total advertising time sold
(
seconds
)
|
1,022,861 | 2,127,473 | 578,275 | (4) |
(3)
|
Represents the total amount of time during regular television programs secured through our contracts with CCTV, including 1,055,160 seconds from CCTV-1, CCTV-2 and CCTV-4 and 9,460,800 seconds from CCTV-E and CCTV-F.
|
(4)
|
During the three-month periods ended December 31, 2008, December 31, 2009 and December 31, 2010, the company has sold nil, 1,038,840 seconds and 73,860 seconds of advertisements in CCTV-E and CCTV-F.
|
Three months ended December 31, 2009
|
Three months ended December 31, 2010
|
|||||||||||||||||||||||
GAAP Result
|
Adjustment
|
NON-GAAP Result
|
GAAP Result
|
Adjustment
|
NON-GAAP Result
|
|||||||||||||||||||
RMB
|
RMB
|
RMB
|
RMB
|
RMB
|
RMB
|
|||||||||||||||||||
Operating income
|
36,638,176 | (332,378 | ) | 36,305,798 | 28,412,700 | 185,129 | 28,597,829 | |||||||||||||||||
Net income
|
32,004,066 | (332,378 | ) | 31,671,688 | 19,004,524 | 185,129 | 19,189,653 |
Year ended December 31, 2009
|
Year ended December 31, 2010
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GAAP Result
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Adjustment
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NON-GAAP Result
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GAAP Result
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Adjustment
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NON-GAAP Result
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RMB
|
RMB
|
RMB
|
RMB
|
RMB
|
RMB
|
|||||||||||||||||||
Operating income
|
90,767,240 | 2,139,736 | 92,906,976 | 62,923,372 | 1,478,227 | 64,401,599 | ||||||||||||||||||
Net income
|
86,465,670 | 2,139,736 | 88,605,406 | 39,892,702 | 1,478,227 | 40,370,929 |
CHINA MASS MEDIA CORP.
|
|||
(Registrant)
|
|||
Date: March 14, 2011
|
By:
|
/s/ Shengcheng Wang
|
|
Name: Shengcheng Wang
|
|||
Title: Chairman and Chief Executive Officer
|
1 Year Criimi Mae Chart |
1 Month Criimi Mae Chart |
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