Zhejiang Grand Imp. & Exp. Co., Ltd. 2007 Annual General Meeting of Shareholders was held on August 2nd at the Sheraton Ningbo Donggang Hotel. The shareholders' meeting reviewed and approved the 2007 annual report of the board of directors and the board of supervisors, the 2007 financial final report and the 2008 financial budget report and the proposal of the company's board of directors and the board of supervisors to change the term. Elected Jin Bo, Peng Liang, Bai Xinhua, Liu Shijun, Zhang Wei, Wu Xiangdong and Xu Qiang as directors of the fourth board of directors of the company. Zhou Yiwu, Weng Qidong and Guo Chiwei were the supervisors of the fourth board of supervisors of the company.

At the first meeting of the fourth board of directors and the board of supervisors in the afternoon, Jin Bo was elected as the chairman of the fourth board of directors, Peng Liang was the vice chairman, Zhou Yiwu was the chairman of the fourth board of supervisors, and the board of directors was the general manager and deputy general manager. Company executives such as the chief financial officer were appointed.

The successful conclusion of the shareholders' meeting, the board of directors and the board of supervisors marked the formal completion of the smooth transition of the old and new leadership groups. The grand plan is far ahead and the future is a long way to go. Zhejiang Grand Imp. & Exp. Co., Ltd. will go better and further under the leadership of the new leadership team.