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| Founding
of the Company |
| November 28, 1995: |
Xiamen Municipal Government approved
founding of Xiamen Xiangyu Group Co., Ltd. |
| April 18, 1996: |
Xiamen Municipal Party Committee
resolved to establish Party Committee and Discipline Committee
of Xiamen Xiangyu Group Co., Ltd. |
| April 25, 1997: |
Ministry of Economic and Foreign
Trade approved granting import and export license to Xiamen
Xiangyu Group Co., Ltd. |
| August 2, 1997: |
Xiamen Municipal Government approved
trial operation of authorized management of state-owned
assets at Xiamen Xiangyu Group Co., Ltd. |
| September 3, 2001: |
Appointed by Xiamen Municipal Government
and Party Committee, Mr. Wu Shi Bin, Party Secretary and
Chairman of Xiangyu Group, took up the posts of Party
Secretary, Chairman and President of Xiamen S.E.Z Trading
Co., Ltd.. |
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| Construction
Activities |
| September 7, 1992: |
Construction of Phase I Project of
Xiangyu Free Trade Zone (F.T.Z) started, with a land area
of 0.6km2. |
| May 8, 1994: |
Construction of rear land for the
specialized terminal of Xiangyu F.T.Z started, covering
an area of 0.4km2. |
| November 28, 1993: |
Phase I Project of Xiangyu F.T.Z
passed the acceptance examination conducted by the Customs
Head Office and was put into official operation. |
| April 18, 1999: |
Construction of Berths 15 and 16
started, which serve specifically Xiangyu F.T.Z. |
| December 20, 2001: |
Phase II Project of Xiangyu F.T.Z
started, covering a land area of 1.1km2. |
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| Establishing
Worldwide Shipping Links |
| December 25, 1992: |
Xiamen Xiangyu Quay Co., Ltd. Was
founded. |
| December 29, 1995: |
Xiamen F.T.Z Huijian Quay Co., Ltd.
was founded. |
| September 1, 1998: |
Xiamen Xiangyu F.T.Z Development
Co., Ltd. was founded. |
| November 24, 1999: |
The first negotiation on terminal
restructuring was held between Xiangyu Group and Hong
Kong New World Group. |
| June 21, 2001: |
Xiamen Municipal Government approved
joint operation of Berths 12 - 16 at Dongdu Harbor District
by Xiangyu Group and Hong Kong New World Group. |
| December 24, 2001: |
Xiangyu Group acquired the shares
of Berths 12, 13 and 14 originally held by other Chinese
shareholders. |
| June 28, 2002: |
The asset restructuring agreement
on those of the three terminal operators in Xiangyu F.T.Z
was signed in Hong Kong between Xiangyu Group and Hong
Kong New World Group. |
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| Pioneering
Logistics Services |
| January 22, 1994: |
Xiamen Xiangyu Warehousing Company,
a wholly state-owned enterprise, was founded.
May 8, 1995: Xiamen Xiangyu Group International Transportation
Co., Ltd., a wholly state-owned enterprise, was founded. |
| January 11, 1996: |
Xiamen Xiangyu Singamas Container
Co. Ltd., a Sino-foreign joint venture, was founded. |
| December 30, 1999: |
Xiamen Xiangyu Pacific Logistics
Co., Ltd., a Sino-foreign joint venture, was founded. |
| December 31, 2001: |
Xiamen Superchain Logistics Development
Co., Ltd. was founded, with Xiangyu Group as the chief
initiator in coordination with other Hong Kong and domestic
investors. |
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| Organizational
Restructuring |
| December1, 1997: |
Staff shareholding was put into trial
at Xiangyu Luxin Import & Export Co., Ltd, one of
the subsidiaries of Xiangyu Group, which marks the initiation
of staff shareholding in the Group. |
| December 24, 1998: |
Xiamen Weitian Real Corporation merged
with Xiangyu Group, which was restructured into a limited
liability company. |
| August 3, 1999: |
Staff shareholding was applied at
Xiamen Jinyu Corporation, a subsidiary of Xiangyu Group. |
| June 30, 2001: |
Xiangyu Project Supervision Company
was restructured to become the first enterprise from which
all state-owned shares were withdrawn. The corporation
then signed an agreement with and joined Xiangyu Group
as a loose-level member company under Xiangyu Group. |
| October 24, 2001: |
Xiangyu Group withdrew all shares
from its wholly-owned subsidiary, Xiamen Sanxin Import
& Export Co., Ltd.. The shareholders of the company
include only its staff and natural persons. |
| December 31, 2001: |
The five Sino-foreign joint ventures
under New Weitian Food Co., Ltd. were restructured from
which all state-owned capital were withdrawn. |
| June 30, 2002: |
The two food products factories under
New Weitian Company were restructured and divided into
two companied with all shares held by public investors. |
| July 1, 2002: |
Xiangyu Group exited completely from
one of its subsidiary, South-East Business Co. Ltd., to
make it the second member company free of asset link with
the Group. |
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