BYCE’s financial condition is indicated in the following table for the financial year 2005 and 2006 together with 2007 forecast.
　

      BYCE complete the MBO (management buy-outs) at the end of 2005. Since then, BYCE has been transformed from a wholly state-owned company (the subsidiary of SINOPEC) to a limited liability company with 20% share held by SINOPEC Group.
      In support of BYCE’s overseas business development initiatives, China Construction Bank and Bank of China – our local bank in Beijing, have agreed to extend a credit line of up to US$ 6 million based upon our financial trackrecord. In fact, BYCE has been rated AAA credit as a top-performing contractor by Yinjian Credit Rating Agency – one of China’s national rating institution. In case a contractor performance bond is required, for overseas project, BYCE is ready to co-operate in the above capacity according standard international practice. For projects that go beyond te above range, we are willing to involve our banks as well as our former parent company (which is still a shareholder in BYCE) to arrange other options.