Chinese Regulator Approves 2nd Listing Applications by Taiwanese Firms This Week

Taipei, April 29, 2010 (CENS)--China Securities Regulatory Commission (CSRC) approved the listing application by Kee Ever Bright Decorative Technology Co., Ltd., a Taiwanese-invested enterprise in Kunshan, yesterday (April 28), the second green light for a Taiwanese firm to join China's A-share market, following that for Earlytek Co., Ltd., a PCB (printed circuit board) maker, on Monday (April 26).

The move appears to be a change in the stance of CSRC towards listing application by Taiwanese-invested enterprises. Since the approval for Guoxiang Corp. in December 2003, the CSRC had permitted only nine Taiwanese-invested enterprises to list their shares on the A-share market, as of the end of 2009. The consecutive approvals this week may prompt other Taiwanese enterprises to tender similar applications, in order to tap the Chinese capital market for funding their development.

A manufacturer of external accessories, Kee Ever Bright Decorative Technology is a typical Taiwanese small and medium enterprise, with revenue reaching 270 million yuan and net profits 43 million yuan last year. The company plans to issue 35 million new shares, at par value of 1 yuan, for IPO (initial public offering), thereby boosting the total number of its shares to 135 million. It plans to list shares on the SME board of Shenzhen Stock Exchange in one to two months.

Founded in 1993, the company has 1,500 employees and counts among its clients such international major companies as Nokia, Motorola, Samsung, Philips, and Volkswagen.