Nov 5^th,2008, Shanghai Hite Control System Co., Ltd. signed the “Appointed Construction of Industry Factory Building” contract with Shanghai Caohejing HI-TECH Park Development Co., Ltd.

    In recent years, the main revenue of Hite has been growing steadily. The number of employees are more and more. Facing the pressure from requirement of accelerating the development after IPO, and considering the existing office area and the functionality cannot fulfill the requirement of extending business, Hite signs the “Appointed Construction of Industry Factory Building” contract with Shanghai Caohejing HI-TECH Park Development Co., Ltd. after several times of site investigations. 70.77 million Yuan raised will be used to buy the industry factory buildings sized 25000 square meters (buildings underground are not covered), which are constructed on F-13/14 plot in Shanghai Caohejing HI-TECH Park Development zone. Mean while, to deal with the contradictions of decentralization of existing office area and base construction using raised money, to decrease cost and operational cost of company, increase the efficiency of integrated management, Hite uses equity fund 40.23 million to buy 12000 square meters industry factory building (buildings underground are not covered) from Shanghai Caohejing HI-TECH Park Development Co., Ltd.. These buildings will be provided to head office for manufacturing and operating.

    Shanghai Caohejing HI-TECH Park Development zone Pujiang Hi-TECH Park is one of the 5 most important industry parks, collecting lots of Top 500 enterprises such as 3M, Suntech Power, ShanShan, SMEDI and Spirax.