01

Company Presentation, Letter of Intent

One or both of the two parties employ Eurasian Consulting （"EC"） as adviser

EC helps to bring about the initial communication between the two parties

The two parties sign Letter of Intent

02

Business Negotiation, Memorandum of Understanding (MoU)/Framework Agreement

EC coordinates the formation of project process plan

EC organizes the two parties to exchange visits and assists in business negotiations

Depending on different situations, the two parties sign MoU of JV or Framework Agreement

03

Assets Appraisal, Due Diligence

The two parties decide the methods and amount of investment contribution; EC organizes assessment agencies and financial, law, environment and tax etc team to do assets appraisal and Due Diligence

EC summarizes the results of assets appraisal and Due Diligence

04

Joint Venture contract, Articles of Association, Signing of contract

EC assists the legal adviser in drafting and preparing Project Feasibility Report, JV contract, Articles of Association of the JV and other related legal documents

The two parties sign the contract

05

Pre-approval and Registration of the Company Name, Industry pre-approval

Administration for Industry & Commerce

Department in charge of relevant industry sectors

06

Project Examination and Approval, Approval of JV Agreement and Articles of Association

District Development and Reform Commission

District Bureau of Commerce

07

Certificate of Approval, Business License, Organization Code Certificate

District Bureau of Commerce

Administration for Industry & Commerce

Administration of Quality and Technology Supervision

08

Foreign Exchange Registration, Bank Account, Capital Verification Report, Tax Registration Certificate

Administration of Foreign Exchange, bank

Accounting firm

Bureau of Taxation

09

Relevant Permit and Authentication Procedures

Depending on different projects, Land Use Permit from Land Department and relevant procedures regarding construction at Construction Department may be needed

Relevant procedures at Planning, Environment and Fire Department

10

Establish a Site or Open Business