China Forest Industry Holdings Limited (hereinafter as CFI) is a holding company registered
under the laws of Hongkong. CFI holds 95% share of Fujian Taining China South Forestry Develop
Company (hereinafter as FTCS) through Singapore China Timber Investment Ltd (hereinafter as SCTI).
The business of CFI is completely driven by FTCS,the ultimate subsidiary,which is engaging in
forest plantation,logging,standing wood transfer,timber production,and forestry management & 
agent service. The company is listed on marché libre of NYSE-EURONEXT on 7th October 2008.