[Management of rental housing]

• Dalian Fujiazhuang International Villa Co., Ltd.
• Dalian Acacia Town Villa Co., Ltd.
• Beijing East Palace Apartment Co., Ltd.
• Tianjin Jiuhe International Villa Co., Ltd.
• Shanghai International Realty Co., Ltd.

[Management of hotels and buildings]

• Dalian Civil Aviation Hotel Co., Ltd.
  (Dalian Royal Hotel)

[Outsourced clerical work]

• DH (Dalian) Administrative Management Consulting Center Co., Ltd.

[Development and sale of condominiums]

• Dalian Dahezhongsheng Estate Co., Ltd.
• Daiwa House (Suzhou) Real Estate Development Co., Ltd.