The Board of Directors of Shanghai Fenghwa Group Co., Ltd. on September 12, 2012, respectively, received Mr. Tao Lin, Miss Huang Xiaohong, Miss Sun Lin, and Mr. Su Hongjin written resignations. Fenghua shares Coastal Realty Investment (China) Co., Ltd. agreement for sale Copies of the causes the Tao Lin decided to resign from the directors of the company, the chairman of the board, Miss Huang Xiaohong, Miss Sun Lin Mr. Su Hongjin decided to resign from the duties of company directors and special committees of the Board of Directors of the company related duties. In order to protect the normal functioning of the Board of Directors of the company, Mr. Tao Lin promised in the election of the Board of Directors of the company new Chairman of the board before, and will continue to effectively fulfill the chairman.