Shanghai Lengguang Industrial Co., Ltd announced that it expects the net profit for fiscal year 2008 to increase by over 50%, compared with that of fiscal year 2007 (RMB 52,703,071.6). The Company cited the private placement as the reason for the change. The Company also announced that it will issue 20,999,317 shares of RMB 1 per share to a Shanghai-based construction material group at a price of RMB 12.19 per share for the acquisition of a 100% stake in a Shanghai-based glass research company.