Jiangsu Rainbow Heavy Industries Co., Ltd. 

Rainbow signed 《Letter of Investment Intent》with Jiangsu Province Qidong Government on December 6, 2010. The Qidong Government would provide approximate 775000 square metres lands and 800 metres Yangtze River waterfronts in the Huiping Town shipbuilding industry belt along the Yangtze River. Rainbow planned to establish a wholly-owned subsidiary in the Qidong City and take this land as the project reserve land, this purchase would need approximate 117,000,000 Yuan.