Sino-Life subsidiary strikes deal with Chongqing funeral parlor

Strengthens market penetration in Chongqing by providing leading five-star funeral service to the market.

Sino-Life Group Limited (“Sino-Life”), a leading funeral services provider in Greater China, announced that its indirect wholly-owned subsidiary, Chongqing Xibao Funeral Technology Company Limited (Xibao Technology), has entered into an agreement with Rongchang Country Funeral Parlour (Funeral Parlour), located in Chongqing, on 17 September 2010 to manage the operations of funeral services and the funeral parlour.

The total of 8-year term shall commence on 31 December 2010 and end on 30 December 2018, during which Xibao Technology shall pay to funeral parlour on annual basis a fee comprising RMB 200,000 and commencing from the second year of the term of the Agreement, 10% of the total turnover of the each year derived from the operation of the funeral parlour. The funeral parlour will offer customer-oriented funeral services such as transportation and storage of remains, mourning ceremonies and sales of funeral products within a designated operation area as set in the agreement, according to a Sino-Life report.

Mr. Liu Tien-Tsai, Chairman of Sino-Life said, “In addition to extending our reach beyond the Chongqing market, Sino-Life has continuously worked to secure and expand its market share within Chongqing itself. We are thus pleased to obtain another operation opportunity in nearby Rongchang County to better provide regional coverage while enlarging our portfolio of management and operations to two funeral parlours and three funeral services centres. As a result, Sino-Life believes that by expanding the scale of operations and providing a leading five-star funeral service to the market, we will in turn create long-term substantial returns to our shareholders.”