Beijing North Star Company Limited (hereinafter referred to as the “Company”) received the Letter of No Objection concerning the Listing and Transferring of Non-publicly Issued Corporate Bonds of Beijing North Star Company Limited（《關於對北京北辰實業股份有限公司非公開發行公司債券掛牌轉讓無異議的函》）(Shang Zheng Han [2016] No. 670) (hereinafter referred to as the “No-objection Letter”) issued by the Shanghai Stock Exchange (hereinafter referred to as the “SSE”) on 13 April 2016, stating that the Company’s non-public issuance of corporate bonds
with an aggregate amount of no more than RMB6 billion to qualified investors was in compliance with the listing and transfer conditions of SSE, and there was no objection from SSE for the listing and transfer. The bonds shall be issued in tranches, and the No-objection Letter shall be effective within 12 months from its date of issuance.