The Board of Luoyang Glass Co., Ltd. announced that on 20 January 2014, the Company entered into the Product Sale Agreement with Fangxing Science & Technology, pursuant to which the Company has agreed to provide ultra-thin float glass to Fangxing Science & Technology. Pursuant to the Product Sale Agreement, the Company has agreed to provide ultra-thin float glass to Fangxing Science & Technology at a price to be determined with reference to the prevailing market price at the time of particular transaction. The price offered by the Company to Fangxing Science & Technology will not be favorable than that offered to other independent third parties on the same or similar products.

In principle, the payment shall be made before delivery of ultra-thin float glass to Fangxing Science & Technology or in other methods to be agreed by both parties to the Product Sale Agreement.