The Company's name was recently changed to Heng Fai China Industries Inc. ("Heng Fai China"), to better reflect the nature of its new business strategy. Heng Fai China is being restructed and recapitalized in order to provide greater share value to its shareholders. Management's mandate is to transform Heng Fai China into America's number one publicly listed "Red Chip" company (companies that invest in industries in China) in terms of profit, growth and stockholder's value.