China Housing & Land Development, Inc. (China Housing), incorporated on July 6, 2004, is a real estate development company. Through its subsidiaries, Tsining Housing Development Co., Ltd (Tsining), New Land Development Co., Ltd. (New Land), Puhua (Xi鈥檃n) Real Estate Development Co., Ltd. (PuHua) and Xinxing Property management Co., Ltd. (Xinxing Property), the Company is engaged in the development, construction, and sale of residential and commercial real estate units, as well as land development in Western China. In March, 2009, the Company incorporated Wayfast Holdings Limited (Wayfast) with its 100% subsidiary Clever Advance Limited (Clever Advance) and Gracemind Holdings Limited (Gracemind) with its 100% subsidiary Treasure Asia Holdings Limited (Treasure Asia). They were holding companies and inactive during the year ended December 31, 2009.

China Housing & Land Development, Inc. (China Housing), incorporated on July 6, 2004, is a real estate development company. Through its subsidiaries, Tsining Housing Development Co., Ltd (Tsining), New Land Development Co., Ltd. (New Land), Puhua (Xi’an) Real Estate Development Co., Ltd. (PuHua) and Xinxing Property management Co., Ltd. (Xinxing Property), the Company is engaged in the development, construction, and sale of residential and commercial real estate units, as well as land development in Western China. In March, 2009, the Company incorporated Wayfast Holdings Limited (Wayfast) with its 100% subsidiary Clever Advance Limited (Clever Advance) and Gracemind Holdings Limited (Gracemind) with its 100% subsidiary Treasure Asia Holdings Limited (Treasure Asia). They were holding companies and inactive during the year ended December 31, 2009.