Approved by relevant departments, Haipengxin Company completed its overall restructuring in February 2008 and became a joint-stock limited company. Shenzhen Haipengxin Electronics Co., Ltd. has formulated its articles of association in accordance with relevant national laws and regulations, and established a modern corporate governance structure consisting of a board of directors, a supervisory board, and senior management. Its registered capital is 24 million RMB.