n August 2012, the company received a response to the Letter, in which the Hong Kong Stock Exchange provided preliminary guidance on the proposed listing application. Upon consideration of the response to the Letter, the firm announced its intention to pursue a dual listing of its shares on the Hong Kong Stock Exchange. The company further announced that it has entered into engagement letters with applicable professional advisors in order to complete such listing.
Based on the tentative timetable, the company intends to file a formal listing application with the Hong Kong Stock Exchange in the first half of 2013. The success of the intended listing on the Hong Kong Stock Exchange is dependent on numerous factors relating to the market and regulatory and operational conditions, which may be beyond the company's control. Therefore, there is no guarantee that the listing can be completed within a specific time frame, or at all.