Double Coin Launches All-Steel Tire Project        

On September 26, 2007 construction on the 4.0 million pcs/a all-steel radial tire project funded by Double Coin Holdings Ltd. (Chongqing) Tire Co., Ltd. with a total investment of RMB3.0 billion was started in Chongqing, Sichuan province.
   The design production capacity of the first phase is 1.0 million pcs/a all steel radial tires. Production is expected to start in December 2008. The project will gradually form a production capacity of 4.0 million pcs/a all-steel radial tires and 20.0 million pcs/a motorcycle tires. Products will mainly be supplied to the automobile market in Chongqing and the tire repair market in central and western China.      
   Double Coin Holdings Ltd. (SH: 600623) is a major tire producer in China, and the headquarters of the company is Shanghai. The output of tire in the company reached 5.6418 million pieces in 2006, an increase of 15.0% over 2005.