The Board of Directors of the Hu An Cable Holdings Ltd. announced that the Company has incorporaed a wholly owned subsidiary company in the People's Republic of China. The details of the Subsidiary are as follows: Name of Subsidiary: Shenzhen Chaolaidian Technology Co., Ltd; Registered Capital (Unpaid): Hong Kong Dollars Five Million (HKD 5,000,000); Proportion (%) of ownership interests: One Hundred% (100%) and principal activities: Computer hardware and electronic equipment technology research and development, wholesale, electronics and computer information technology consultancy and technical services. The incorporation of the Subsidiary will funded through internal resources of the Group and out of the profits that the Subsidiary may make from the commission that it earns by acting as agent for the sales of computer information technology products. None of the Directors, controlling shareholders or substantial shareholder of the Company has any interest, direct or indirect, in the incorporation of the Subsidiary, save for their respective shareholdings in the Company.