Ernst & Young is to replace GHP Horwath, P.C., who was dismissed as the company’s independent registered public accountants.

BVI company’s CEO and Chairman Mr. Feilie Li said in his comments: “We are pleased to welcome Ernst & Young as our audit firm, and look forward to a rewarding, long-term relationship with them. At the same time, we are saddened to end our tenure with GHP Horwath and wish to express our sincere appreciation for their many years of courteous and professional service.”

The Certificates are valid for at least three years, and are open for renewal in 2012. High-Technology Enterprise Certificates are awarded to qualified enterprises that meet strong criteria, including developing core intellectual property rights, receiving over 60% annual revenues from high technology products/services, and performing high percentage of research and development.

After receiving the Certificate, Yucheng Technologies (BVI) company continues to receive preferential treatment, including, first of all, a three-year corporate tax reduction. By words of BVI company’s CEO Mr. Weidong Hong, tax benefits will ensure that they continue to maximize their financial performance.

For the third quarter ended September 30, 2008, net revenues reached $22.8 mln – an approximate $1.1 mln, or 4.7% increase over the same period of the prior year. Cost of goods sold were $18.5 mln in the third quarter 2008 – a 13% increase if compared to the same period of 2007. Gross profits for the third quarter were $4.4 mln, compared to $5.5 mln in the third quarter of 2007. Gross margin percentages decreased to 19.2% in 2008 from 25.1% for the three months ended September 30, 2007 – mainly due to higher costs in raw materials, especially the 29% price increase in cold-rolled steel since January 1, 2008. Operating income and operating margin for the third quarter were $2.9 million and 12.6%, versus $4.1 million and 18.9% in 2007. Total operating expenses for the third quarter of 2008 were $1.5 mln – versus $1.4 mln for the same period of 2007. Operating expenses in this period made 6.5% of revenues compared with 6.2% for the same period of 2007.

Revenue increased approximately 21.3% to $76.3 mln for the nine months ended September 30, 2008, as compared to $62.9 mln for the same period last year. Net income made $8.1 mln, having increased by 8.0% from the same period of 2007. Operating expenses for the nine months ended September 30, 2008 were $4.7 mln, compared to $3.9 mln for the same period of 2007.

As of September 30, 2008, Tongxin International had approximately $19.0 mln in cash and cash equivalents. Stockholder’s equity was $34.2 mln, the amount which made an increase of 52.8% versus the same period of 2007.

The South African company, which now owns various mining operations in Zimbabwe, bought mining claims in the region through a company called Lefever Finance and incorporated under the law of the British Virgin Islands. Camec bought the BVI corporation from a company called Meryweather Investments to which it paid US$5mln in cash, and issued 215 mln of new Camec shares worth about US$238 mln. The BVI-based Lefever was the owner of 60% of a Zimbabwean company called Todal Mining, which held all the rights on the mines. The remaining 40% of Todal Mining is held by the Zimbabwe Mineral Development Corporation (ZMDC).

Camec also published statement accompanying its fiscal results for the year to the end of March that, where expressed confidence that they can bring the mine into operation during the year 2009. It was added in the report that “Todal has negotiated the right to export platinum from Zimbabwe, and has also secured agreement to allow it to expatriate the profits generated by its mining operations in the country.” The activity in Zimbabwe is of strategical importance to Camec, in its plans to become a leading African investment and production company.

Camec lent to Lefever US$100 mln, to enable the company “to comply with its contractual obligations to the Government of the Republic of Zimbabwe.” Repayment to Lefever is to be made from the ZMDC’s share of dividends from Todal.

Yixing PACT, Shanghai-based subsidiary of the BVI company, is a global provider of environmental solutions for industrial and municipal clients, focusing on water and wastewater treatment. Company’s capabilities cover design, manufacturing, sourcing, installation and servicing of water/wastewater treatment, water desalination plants and equipment.

Song Yi, Diguang’s Chairman and CEO, has said that company’s “2008 strategic growth plan calls for expanded manufacturing capacity in all product categories … Direct ownership of the acquired facilities at Dongguan Diguang Science and Technology increases our flexibility in production scheduling.”

Also, two days before this the Nevada-based Digunang, located in Shenzhen and having its sales and marketing subsidiary registered in the British Virgin Islands, announced the postponement of the fourth quarter and fiscal year 2007 conference call that is originally scheduled for March 31, 2008. The company filed for time extension to file its Form 10K for the fiscal year ended December 31, 2007.

This appointment followed the expiry of the service term of Friedman LLP, and was based on recommendation and approval of the audit committee and the Board of Directors of China Technology on February 14, 2008. The reason for the change of the auditor was not any kind of disagreement between CTDC and Friedman, on matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

CEO of the company Charlene Hua commented on the appointment of the new auditor: “Given our strategic focus in the solar energy business in China, we believe that Deloitte’s strong presence in China will provide us with audit services that are more efficient and suitable for a rapidly growing company like ours. We also wish to thank Friedman for the excellent work and professional services provided by their team.”

BVI-domiciled China Technology Development Group Corporation has also a number of BVI subsidiaries, one of which, China Natures Technology Inc., about a month ago was disposed to an independent party for HK$10,000,000, pursuant to the sale and purchase agreement dated December 18, 2007.

The first contract for construction of a 24 MW distributed power generation system for a new paper and pulp plant in Wuzhong, China, $44.5 million worth, is expected to be started in June 2008 and completed in one year.

The second contract to construct a 24 MW distributed power plant in Hailen, China, is $27.8 million worth. The project is expected to begin this month, and also will be completed in approximately 12 months.

Mr. Jinxiang Lu, Chairman and CEO of A-Power Generation Systems, in his comments noted that, as the distributed power generation business continues to accelerate, these new contracts are ‘a testament to the market recognition of the track record and the ability to quickly develop and construct quality systems that meet the specific power and heat needs of the customers’. He also said that, in addition to these new contracts announced, there are discussions with a number of other potential distributed power generation customers, which will be probably turned into contracts over the next months.

At present, Winstone is controlled by offshore companies, registered in Hong Kong and the British Virgin Islands. The company owns about 16,500 hectares of forest in the central North Island, a sawmill at Tangiwai and a pulp mill nearby at Karioi, and employs about 300 staff. By the fiscal results at September 30, 2006, company’s forest crop was valued at US$83 mln, and its fixed assets were evaluated at US$38.7 mln. For the same period, company had revenue of US$131 mln, but made a US$10.1 mln loss.

The purchase took forestry plantation of Ernslaw One to 100,000 hectares, making it the fourth largest forest owner in New Zealand. As at June 30, Ernslaw One’s forest estate was valued at US$254 mln.

Managing director of the BVI- and Hong Kong-controlled company David Anderson said the sale would not affect staff levels.

The company informed that the conference call and webcast will take place on Wednesday, November 14, 2007, and published phone numbers for calling either from the United States or internationally. The event will also be webcast live, and a webcast archive will be available for 90 days, on a password-protected event management site.

Diguang International is a Nevada-based corporation located in Shenzhen, and having its sales and marketing subsidiary registered in the British Virgin Islands. Through its subsidiaries, the company specializes in the research, development, production, sale and distribution of backlights and backlight technologies, currently developing about 50 products per month. A month ago, the company received a favorable reception of its production at the largest IT show in South Korea.