Zhuhai Gree Corporation purchased 3.92% of equity of Gree Finance Co., Ltd. of Zhuhai Gree Group held by Zhuhai Zhenrong Company on May 31st, 2007 at a price of RMB 14,655,929.80. After the transaction, the company has 33.92% equity of the Finance Company directly; in addition, the two wholly-owned subsidiaries have 2% of equity of Finance Company respectively.