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

Jun 6, 2008

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness, and expressly disclaims any liability whatsoever for any loss howsoever arising or in reliance upon the whole or any part of the contents of this announcement.

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

(Stock Code: 1108)

FURTHER DEVELOPMENT OF THE DISCLOSEABLE TRANSACTION IN RELATION TO THE DISPOSAL OF THE COMPANY’S IDLE PRODUCTION LINE

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.

Reference is made to the announcement and circular of the Company dated 8 January 2008 and 25 January 2008 respectively in relation to the disposal of the Company’s idle production line. Unless otherwise stated, capitalized terms used herein shall have the same meanings ascribed thereto in the said announcement and circular.

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The consideration of the Production Line was RMB35,000,000 (approximately HK$37,100,000), which was agreed to be satisfied by Ruyang Welfare Factory in cash. The initial payment of RMB10,500,000, being 30% of the consideration, was paid by Ruyang Welfare Factory on 29 December 2007. The remaining RMB24,500,000, being 70% of the consideration, was agreed to be paid by Ruyang Welfare Factory before 30 March 2008. However, Ruyang Welfare Factory has advised the Company that it has difficulties in settling the outstanding consideration of RMB24,500,000. As at the date of this announcement, the Company still has not received such outstanding consideration from Ruyang Welfare Factory. According to the Contract, if Ruyang Welfare Factory fails to pay the consideration, the Company will be entitled to terminate the Contract. In the circumstances, the Company issued a written notice to Ruyang Welfare Factory on 6 June 2008 to terminate the Contract and in accordance with the Contract, shall obtain the overdue payment penalty of RMB808,500 by deducting the same from the consideration received from Ruyang Welfare Factory before. The Company will return the remaining sum of RMB9,691,500 to Ruyang Welfare Factory in cash.

The non-completion of the Disposal of the Production Line will not have material impact on the operation of the Company. However, the expected gain on Disposal of approximately RMB24,377,500 will not be realized.

By order of the Board Gao Tianbao Chairman

Luoyang, the PRC 6 June 2008

As at the date of this announcement, the Board comprises three executive Directors: 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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