RoboSense Technology Co., Ltd — Capital/Financing Update 2008

Mar 13, 2008

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

(Stock Code: 1108)

ANNOUNCEMENT ON AMENDMENT OF RESULTS FORECAST

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.

The Company announced in its announcement dated 29 January 2008 that it is expected turning into profit in the results of 2007.

The two main reasons that the Company has issued an announcement on the estimated earnings in the results for 2007 are as follows: Firstly, market selling price of domestic float glass during the reporting period increased, leading to a more substantial growth in the average price as compared with the corresponding period last year. Secondly, the Company has enjoyed gains from disposal of a portion of assets during the reporting period.

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During the reporting period, the Company has improved operating efficiency and strengthened its internal vigour through establishment of new management system and operating mechanism. There is an obvious improvement in the production and operation of the Company which has been proved by the profit made from the principal operations in the second half of the year. Meanwhile, the Company has increased disposal of idle assets. In October 2007, the Board resolved to launch a restructuring project of stimulating assets, striving to make profits for the year by increasing income. After launching the restructuring project, intermediary organisations have participated in the full course of the project and have given advice and methods on some links during implementation of the project. Relative restructuring was completed smoothly in 2007.

But in the recent communication on final version of 2007 financial report between the Audit Committee of the Board and GuangDong HengXin Delu Certified Public Accountants Company Limited and Ting Ho Kwan & Chan, Certified Public Accountants (the “Accountants”) respectively appointed by the Company to audit 2007 financial statement of the Company according to the domestic and overseas accounting standards, the Accountants considered that it could not recognise the revenue generated from the disposal of idle assets in the above restructuring for the following reasons:

1. On 22 October 2007, the Company entered into an agreement for the transfer of 100% equity interest in Luoyang CLFG Storage and Logistics Company Limited (洛陽洛玻倉儲物流有 限公司) (“Logistics Company”) to China Luoyang Float Glass (Group) Company Limited. The agreement was approved by independent shareholders of the Company at the extraordinary general meeting on 18 December 2007. As the registration for the change of shareholding was not completed until 29 January 2008, the Accountants considered the equity transfer of Logistics Company cannot be confirmed as completed in 2007. Accordingly, the Company’s gain of RMB50.68 million from its land investment in Logistics Company was eliminated upon consolidation and cannot be included into the consolidated financial statement.

2. On 28 December 2007, the Company entered into an agreement to sell its idle production equipment and auxiliary equipment to a purchaser. The purchaser made the initial payment on 29 December 2007 but recently advised the Company that it was relatively difficult for them to settle the outstanding consideration according to the terms of the agreement, which shows an intention to defer the performance of the agreement by the purchaser. Based on this latest situation, the Accountants considered that the income of RMB29.38 million from the sale of assets cannot be recognised in 2007.

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In case that the income from the two projects mentioned above remains unconfirmed, there will be a loss in the Company’s 2007 operating results. As a result, pursuant to paragraph 1 of Rule 13.2.1 of the Rules Governing the Listing of Securities on Shanghai Stock Exchange, a de-listing warning on A shares of the Company will be issued by Shanghai Stock Exchange upon the disclosure of the Company’s 2007 annual report.

Though the Company has stated in the announcement on the estimated earnings in the results that the turning into profit results in 2007 is subject to the auditing by the accounting firm and must be in compliance with the related regulations before confirmation, the occurrence of the above situation resulted in material difference in 2007 estimated results of the Company. The Board regrets the fact and wishes to make apology to investors, and public investors are reminded to be aware of the investment risk.

By order of the Board Zhu Leibo Chairman

The People’s Republic of China, Luoyang 13 March 2008

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.

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