Anhui Tongfeng Electronics Co., LTD

Announcement on project completion

Anhui Tongfeng Electronics Co., LTD. (hereinafter referred to as the "Company") raised funds to invest in the project-- The technical transformation project of AC capacitor and low-voltage power capacitor production line and the safety and edge thickening zinc-aluminum metallized film project have passed the completion acceptance of the project on June 8, 2001, the details are as follows:

1, AC capacitor, low-voltage power capacitor line technical reform project。The project originally planned a total investment of 49.9 million yuan, including 20 million yuan of working capital and 29.9 million yuan of fixed asset investment。By the beginning of June 2001, the project had completed a total investment of 33.09 million yuan in fixed assets。The investment in fixed assets exceeded the original plan by adding one import scutcher。

2. Safe and edge thickened zinc-aluminum metallized film project。The project originally planned a total investment of 37 million yuan, including 7 million yuan of working capital and 30 million yuan of fixed assets。By the beginning of June 2001, the project had completed a total investment of 31.48 million yuan in fixed assets。Investment in fixed assets exceeded the original plan by increasing power distribution projects。

The completion and operation of the above projects will enable the company to reach the advanced level of similar products in the world, and will have a greater impact on improving the technical content and market share of the company's products。

Hereby announce。

                               Anhui Tongfeng Electronics Co., LTD

                                          25 June 2001