Tao Heung Holdings

Tao Heung Holdings Limited is principally engaged in restaurant operations, provision of food and catering services and production, sale and distribution of food products related to restaurant operations. As of December 31, 2007, the Company’s subsidiaries include Sky Cheer Group Limited, Elite Sky International Development Limited, Great Sky International Enterprise Limited, Sky Castle Development Limited, Sky Fine International Industrial Limited, and Sky Great Development Limited. On January 1, 2007, the Company acquired 100% interest in Glory Rainbow International Trading Limited, Loyal Sky Holdings Limited, Skymark Asia Limited and Sky Rich (China) Limited together with their subsidiaries. (Source: ARS)