On 19 December 2011, the Court ordered that the restriction of dealing with the Security Assets and the relevant interest in Beijing Yaohui imposed on the Parties, the Purchaser, Receivers and Security Agent was discharged. Hong Da applied to the Court for leave to appeal and the hearing was held on 28 December 2011.  At the said hearing, the Court granted an order that (a) Hong Da"s application for leave to appeal was dismissed; and (b) the costs of the relevant application should be paid by Hong Da to the Parties, the Receivers and the Security Agent.

Moreover, Hong Da made an undertaking to the Court that it would tender payment on or before 13 January 2012. In view of such undertaking from Hong Da, Zhen Fu Limited (a wholly owned subsidiary of the Group and the creditor of the Loan), the Security Agent, the Receivers and its nominee undertook to the Court that they would not dispose of Hong Da"s shares in Century Profit until 20 January 2012. 

The Group will continue to use its best endeavours to protect the interests of the Group and the Shareholders as a whole.