China Rongsheng Heavy Industries Group Holdings Ltd. announced in October 29 evening that Rongsheng will sign the subscription agreement with the allottees who has agree to offer HKD 510 million to buy Rongsheng’s issued warrants.

Moreover, China Rongsheng Heavy Industries Group Holdings Ltd. proposes to change the name of the company from China Rongsheng Heavy Industries Group Holdings Limited to China Huarong Energy Company Limited.

Rongsheng also released in the announcement that the shares purchased by allottees will directly be held by the Broad Macro Fund and managed by Broad Macro Asset Management Limited Company, therefore 50% of the