AirTAC

Stepping in end of peak season of this year, consolidated revenue for Jun 2014 was RMB 155,280 thousand dollars, less than last month and a 10% increased compared to the same period last year. Because of the benefits of continuing new products development, the new selling channels, consolidated revenue for the second quarter of 2014 was RMB 490,362 thousand dollars, the new quarterly highest in the history of Airtac, a 33% increased QoQ and a 16% increased compared to the same period last year. Consolidated revenue from January to Jun was RMB 858,549 thousand dollars, an 18% increased compared to the same period last year.
We heard some noise from investors saying, our competitor launched a more aggressive pricing policy by providing simple spec product or inferior quality product from local china procurement. To our knowledge, it just was selective product for selective customers; this policy will not impact Airtac too much and we believe that it will confuse customers on this competitor’s brand image.