the consortium of Mr. Dang Yu (George) Pan, the Company's Chairman and Chief Executive Officer and a stockholder of the Company, Wen Liang Li, a director and stockholder of the Company, Wen Wei Ma, a stockholder of the Company, and Essence International Financial Holdings (Hong Kong) Limited has committed to a non-waivable condition, requiring the approval by holders of a majority of the outstanding shares of common stock of the Company not currently owned by the consortium, as part of the consortium's preliminary non-binding "going private" proposal.