Foreign Invested Enterprise United Annual Report

2009

Affirmd Hereby: The Company is responsible for the truthfulness

of this annual report, balance sheet, income statement and other
materials.

Enterprise Name: Zhengzhou City Shenyang Technology Ltd

Registration ID: 41010010008310

Registered Government Office: Henan Province Zhengzhou City Administration

of Industry and Commerce
Date: 2010-04-14

Signature of Legal Representative: Zhong Bo (signature)

Enterprise Chop:

Form by State Administration of Industry and Commerce

 Enterprise Basic Information

Enterprise Name Zhengzhou Shenyang Technology Ltd

Registration Number

Address Zhengzhou City Zhongyuan District Huzhu Road 28

Postal Code
Chinese side1

Chinese side 2
Investor List
Chinese side 3
Foreign side 1 Everfair Technologies Limited

Country Hong Kong

Electronics, Cable devices, Industrial Monitoring Devices...

Business Coverage
Enterprise Type
Limited Liability Corporation
Legal Representative Zhongbo

Director Changes? No

Setup Date Business Licence: From 1996-05-20 to 2025-05-19

Does business coverage include items need

Admin License: Yes Admin License
Effective: Yes
 Capitals

Total Investment 29.2902 million USD

Registered Capital China side

14.6451m USD
Foreign side

Received Capital China side

14.6451 m USD
Foreign side
Capital Form Cash Assets Intelligent properties

Amount (10k mUSD) Land Others

Current Year Investment

Foreign side
Foregin side Current Year Actual Investment
Registered Capital in Place?
Yes
 Investment on external entities

None
 branch

none
 Current Year Operating Summary

Sales Service Revenue

Service revenue
Domestic Sales
Total Tax custom

Profit before income Net profit

tax Assets
Debt

Henan Tianyou
Auditor

Status In Business

Started
Cause for Loss
The cause for loss in 2009 is because:
We are changing business, so we have

Low Revenue but high cost.

 Other Information

Enterprise ID

Belonged Trade Business Code Other Computer Service

Information Delivery, Computer Services, and Software

Investment company? Advanced technology company?

Export Company

No
No No
Employee count Foregin employee count Current year added employee

Grant Date Grant Number

State Tax ID Treasury ID

Local Tax ID Custom ID

Foreign Exchange ID Reported Annual Report?

Yes
 SAIC Registration Coordinator Information

Name Zhang Ge

Department Admin

Land Line
Phone

Mobile
Email Address

Address

Postal Code
 Annual Check Agent Proof

Agent Name
 Qualification Proof for Computer System Integration

Zhengzhou Shenyang Technology

Grade Three

Number

Issued 2002 July 9th

 Zhengzhou Shenyang Technology Company
Limited
Audit Report Text
Audit Report

Zhengzhou Shenyang Technology Company Limited

We audited attached financial statements of your company, including balance sheet of

Dec 31, 2009, income statement and cash flow statement of 2009 and notes.

One. Management's responsibilities to the financial statements

It is your management's responsibility to provide financial statemtns according to ... rules.

The responsibilites include: (1) Implement internal control to avoid material errors out

of fraud or mistakes. (2) Select the appropriate accounting treatment; (3) make reasonabile

accounting estimates.

Two. Auditor's responsibilities

Our responsibilities are to provide auditing opinions on the financial statements.

Except for the item 3, resevation items, we performed auditing according to rules of

China CPA, which requires us to follow ethical standards, and make sure there is

reasonable assurance for financial reports that are free of material errors.

Auditing involves executing auditing procedure to get proof of the finanical numbers.

The selected procedure is dependent on the judgement of CPA, including assessment

of material risks out of fraud or mistake. In assessment, we consider the internal controls

related to financial statements so as to design the appropriate procedure, but the purpose
 is not to express opinions to the internal controls. The auditng also involves the assessment on

if the management adopted appropriate accounting practices, made appropriate estimates,

and the financial statements as a whole.

We believe, the auditing evidences that we gathered have been sufficient and appropriate,
which provided the basis for us to express our auditing opiniions.
Three. Reservation Items

Limited by existing conditions, we were not able to check your tangible assets at the end of
the period, and we were not able to check the receivables and payables, and we were not able to

replace this deficiency with other satisfactory proedures to obtain sufficient and proper auditing

evidences.
Four. Auditing Opinions

We believe that, except for the above mentioned item, your financial statements reflected

your company's financial status as of Dec 31, 2009 truthfully as well as operating results

and cash flow of 2009.

Up to Dec 31 2009, your company has injected capital of 100m RMB, in

agreement with registered capital.

This report is for your 2009 SAIC report. Yuan Fengming (CHOP)

China CPA:

Liu Xuebing
China CPA

Henan Tianyou Accounting Firm (CHOP)

March 27, 2010

phone and address of accounting firm

 cash
Bank Deposit

Siqi Technology
Hua County TV Station

Prepaid Expense
 Sichuan Jinwangtong
zhengzhou Qinsong Image

Other receivables:
Including: Shenyang Networks
City Court
Zhengzhou Zhongxin Real Estate
Inventory
Sales

Salary
Admin Cost

Salary
Business Entertainment
Office Supply
Depreciation
Finance Cost

Interest Expense
 Balance Sheet

Reporting Company: Zhengzhou ZST Unit: Yuan

end of period liabilities and equity
assets
current assets beginning current liab end of period beginning
cash
investment
notes receivable
Account receivables account payales
prepaid expense

tax payables
other receivables
Inventory
other payables
other current assets
total current assets
non-current assets current liabilities

Fixed assets

liabiliities

received capital
reserved capital

accumulated profit

equity
non-current assets
 Income Statement

Reporting Company: Zhengzhou ZST

last year this year unit: yuan

items
Revenue
Cost of Goods Sold
Business Tax
Sales Cost
Admin Cost
Finance Cost

Op. Profit
other income
other expense

total profit
Income tax
Net Profit
 Cash Flow Statement

operating cashflow
total cash change
from sales
from tax return
additional info
from other source
total cash inflow
paid to goods net profit
paid to salary
paid on tax depreciation
other
total cash outflow
net cash
Investment cash flow
loss from assets disposition

sale of fixed assets financial cost

cash inflow
purchase of assets inventory decrease
AR reduction
AP increase
cash outflow
operating cashflow
total cashflow
Financial cashflow
from equity
from debt

total inflow

dividend or interest ending cash

beginning cash

cash outflow
total cash cash increase
 Audting firm Certificate

Name Henan Tianyou Registration Number

Business Address

Executive Partner
Yuan Fengming

Partnership Type General

Partner

Business Auditing
Coverage
Accounting Firm Business License
Auditor Business License

Auditor Business License

Name Yuan Fengming
Auditor's Business License

Auditor Business License

Liu Xuebing
Name
 Enterprise Business License

Duplicate Copy

Registration number

Name Zhengzhou Shenyang

Zhengzhou City Zhongyuan District
Address
Huzhu Road No 28
Legal Representative
Zhongbo
Registered Capital
100m RMB
Received Capital:
100m RMB
Type LLC Wholly owned by enterprise from Taiwan, Macau or Hong Kong

Business Coverage

Owner Everfair Techologies Company