China Transinfo Tech (NASDAQ:CTFO)

On October 21, 2010, China TransInfo Technology Group Co., Ltd. (the “Group Company”), a variable interest entity of China TransInfo Technology Corp., entered into a registered capital contribution agreement with Beijing Marine Communication & Information Co., Ltd.  and Zhongyuan Credit Guarantee Co., Ltd. whereby Zhongyuan Credit agreed, within 20 business days following the date of the Contribution Agreement, to contribute RMB 30 million (approximately $4.38 million) in cash into the Group Company’s majority-owned subsidiary, China TranWiseway Information Technology Co., Ltd. in exchange for a 30% equity interest in China TranWiseway. Following this transaction, the Group Company will retain a 55% majority ownership of China TranWiseway while Beijing Marine and Zhongyuan Credit will own 15% and 30% equity interest in China TranWiseway, respectively.

On October 19, 2010, China TransInfo Technology Group Co., Ltd. , a variable interest entity of China TransInfo Technology Corp., entered into a registered capital contribution agreement with Beijing Shiji Yingli Science and Technology Co., Ltd.  whereby Shiji Yingli agreed, within 15 business days following the date of the Contribution Agreement, to contribute RMB 9.6 million (approximately $1.4 million) in cash and RMB 44.6 million (approximately $6.6 million) in intangible assets (mostly technology and intellectual property owned by Shiji Yingli) into the Group Company’s wholly owned subsidiary, Beijing Zhangcheng Science and Technology Co., Ltd. in exchange for a 49% equity interest in Beijing Zhangcheng. Following this transaction, the Group Company will retain a 51% majority ownership of Beijing Zhangcheng while Shiji Yingli will own the rest 49% equity interest.