RoboSense Technology Co., Ltd — Capital/Financing Update 2007

Dec 28, 2007

==> picture [42 x 57] intentionally omitted <==

(a joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 1108)

ANNOUNCEMENT OF THE BOARD OF DIRECTORS

This announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the “Listing Rules”) on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

Luoyang Glass Company Limited (the “Company”) and all members of the board (the “Board”) of directors (the “Directors”) of the Company hereby warrant the truthfulness, accuracy and completeness of the contents of this announcement, and accept joint and several responsibilities for any false information, misleading statements or material omission in this announcement.

Mr. Gao Tianbao, the Director and General Manager of the Company, signed an asset sale and purchase contract ( the “Contract”) on behalf of the Company with Ruyang Arts And Crafts Welfare Factory (汝陽縣工藝美術福利廠) (“Ruyang Welfare Factory”) on 28 December 2007. Both parties reached an agreement on the acquisition of the Company’s idle production and auxiliary equipment by Ruyang Welfare Factory. Mr. Gao Tianbao has been authorized to dispose the aforementioned idle production and auxiliary equipment of the Company on the 14th meeting of the 5th Board convened on 8 October 2007.

— 1 —

The idle production and auxiliary equipment as aforesaid is one of the float glass production lines of the Company which has stopped production in February 2006 due to expiry of operation and requirement of cold repair (cold repair is a procedure, in which the float glass production line stops production periodically for the renovation and redevelopment of equipments and materials and thereafter resumes production). Since this production line is located at the urban areas of Luoyang City, according to the policy of Luoyang government, the production line shall not restart production after its cold repair at the original place. Therefore, the equipments of the production line and the relevant assets have been idle. As at 31 August 2007, the net book value of the assets was RMB10,622,500 (unaudited). The value of the assets assessed by Henan Yatai Assets Valuation Company Limited was RMB34,945,300.

1. Brief Description of Parties to the Transaction:

Party A is Luoyang Glass Company Limited and its legal representative is Mr. Zhu Leibo. The registered address of the Company is No.9, Tang Gong Zhong Lu, Luoyang Municipal, Henan Province. Party B is Ruyang Arts and Crafts Welfare Factory and its legal representative is Mr. Li Zhi Hao. The registered address of the company is Da An Industrial Zone, Ruyang Municipal.

2. Main Terms of the Contract:

i. Disposal of Equipment

The equipment which is to be disposed by the Company are production and auxiliary equipment legally owned by the Company without any disputes.

ii. Consideration of Disposal

The total consideration for the disposal of the equipment by the Company is RMB35,000,000.

iii. Payment of Consideration

Ruyang Welfare Factory will transfer 30% of the consideration for acquisition (i.e. RMB10,500,000) to the account designated by the Company within 10 days commencing from the signing date of the Contract, while the remaining 70% of the consideration for acquisition (i.e. RMB24,500,000) will be transferred to the account designated by the Company before 30 March 2008.

— 2 —

If Ruyang Welfare Factory fails to settle the first 30% of consideration for acquisition within 10 days commencing from the signing date of the Contract, the Contract will be automatically terminated thereafter.

iv. Delivery of Equipment

After Ruyang Welfare Factory executes the Contract and settles the consideration for acquisition in accordance with the Contract, the Company will start to examine and repair equipment disposed in order to guarantee that the equipment examined and repaired can be normally operated. After examination and repair, parties to the Contract will deliver the equipment at the Company’s registered address.

v. The Company’s Undertaking and Warranty

The Company has undertaken and warranted that it is a corporate legal person registered and subsisted according to law and is entitled to execute and perform the Contract. Assets disposed have not been secured, pledged or owned by any third parties.

vi. Ruyang Welfare Factory’s Undertaking and Warranty

Ruyang Welfare Factory has undertaken and warranted that it is a corporate legal person registered and subsisted according to law and is entitled to execute and perform the Contract, and warranted to pay the consideration for acquisition pursuant to the Contract.

vii. Liability for Breach of Contract

In the event that either party violates the obligation specified in the Contract, the breached party shall bear the liability for the breach. Where loss is caused to the non-breached party, the breached party shall compensate the loss caused.

In case Ruyang Welfare Factory fails to pay the consideration for acquisition according to clause 3 of the Contract on time, a 0.05% overdue payment penalty will be charged per day. If Ruyang Welfare Factory still fails to pay the consideration for acquisition despite demanded by the Company, the Company will be entitled to terminate the Contract.

— 3 —

viii. Remedy for Disputes

All disputes arising in connection with or relating to the Contract including its existence, validity or termination shall be settled through timely negotiations between parties to the Contract. Where the disputes cannot be settled through negotiations between the parties, it shall be referred to the Luoyang Arbitration Commission for final arbitration in accordance with the existing valid arbitration rules. In case of any amendments made to the arbitration rules upon execution of the Contract, the arbitration shall be conducted according to the latest amended version of the rules which have been passed and effective.

ix. Amendments of the Contract

All amendments to the Contract shall be made in written form and shall come into effect upon the signing and sealing by parties to the Contract.

x. Effectiveness of the Contract

The Contract shall become effective upon the signing and sealing by the representatives authorized by parties to the Contract.

3. Impact on the Results of the Company in the Period:

Upon the fulfillment of the conditions of the Contract and the Contract comes into effect, the profit of the Company is expected to increase by RMB24,377,500 in the year 2007.

By order of the Board Zhu Leibo Chairman

Luoyang, the PRC 28 December 2007

As at the date of this announcement, the Board comprises five executive Directors: Mr. Zhu Leibo, Mr. Zhu Liuxin, Mr. Gao Tianbao, Mr. Xie Jun and Mr. Cao Mingchun, two non-executive Directors, Mr. Yang Weiping and Mr. Shen Anqin, and four independent non-executive Directors: Mr. Zhang Zhanying, Mr. Guo Aimin, Mr. Xi Shengyang and Mr. Ge Tieming.

— 4 —