Haijiahao Subsidiary Signs Major Contract of 2.708 Million Euros

Shanghai Jia Hao (21.100,0.00,0.00%)(300008.SH) announced today that the company’s wholly-owned subsidiary, Shanghai Jiahao Shipbuilding Technology Development Co., Ltd., entrusted Shanghai Jiahao Logistics Development Co., Ltd. to sign the "MAIORA 20S Yacht Purchase Contract." Shanghai Jiahao Yacht Development Co., Ltd., a controlling subsidiary, signed the “MAIORA 20S Yacht Production Technology Transfer Contract” with a contractual amount of 2.158 million euros and 550,000 euros respectively.

The yacht sales and technology transfer party is FIPA Italiana Yachts Srl. The company stated that the purchase of the MAIORA 20S yacht can be used as Jiahao Technology to further support the yacht business and the yacht club. The introduction of production technology will have a positive impact on the company's performance in 2012 and beyond.