Yunnan Luoping Zinc&Electricity Co., Ltd (stock code: 002114) released public announcement on June 8th 2007 to approve of co-founding Yunnan Z&E Horon Real Estate Development Co., Ltd together with Yunnan Horon Real Estate Development Co., Ltd.

Luoping Zinc & Electricity announced that the co-founded company was registered with capital RMB 70 million. RMB 38.5 million was invested by Luoping Zinc & Electricity, accounting for 55%, and Horon invested RMB 31.5 million, sharing 45%. The joint venture mainly runs real estate development and operation as well as other businesses.