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|   | þ | Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | o | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|--------|---|------------------------------------------------------------------------------------------|

| Delaware                                            |   | 20-0178991                                                   |
|-----------------------------------------------------|--------|--------------------------------------------------------------|
| (State or Other Jurisdiction of |   |  (I.R.S. Employer Identification Number) |
| Incorporation or Organization)            |   |                                                         |

| Large accelerated filer  o |   | Accelerated filer þ |   | Non-accelerated filer   o                                     |   | Smaller reporting |
|-------------------------------------------|--------|--------------------------|--------|--------------------------------------------------------------------|--------|-------------------|
|                                      |   |                     |   | (Do not check if a smaller reporting |   | company o         |
|                                      |   |                     |   | company)                                                           |   |              |

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|                                                                                                     |   | Page   |
|----------------------------------------------------------------------------------------------------------|--------|--------|
| PART I — FINANCIAL INFORMATION                                                                     |   | 3      |
| Item 1. Financial Statements (Unaudited)                                                            |   | 3      |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations |   | 28     |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                  |   | 34     |
| Item 4. Controls and Procedures                                                                     |   | 35     |
| PART II — OTHER INFORMATION                                                                        |   | 36     |
| Item 1. Legal Proceedings                                                                           |   | 36     |
| Item 1A. Risk Factors                                                                               |   | 36     |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                 |   | 36     |
| Item 3. Defaults Upon Senior Securities                                                             |   | 36     |
| Item 4. (Removed and Reserved)                                                                      |   | 36     |
| Item 5. Other Information                                                                           |   | 36     |
| Item 6. Exhibits                                                                                    |   | 36     |
| SIGNATURES                                                                                               |   | 37     |
| EXHIBIT INDEX                                                                                            |   |   |

----

|                                                          |   |                          |    |   |              |   |      |   |          | As of |      |
|---------------------------------------------------------------|--------|-------------------------------|---------|--------|-------------------|--------|-----------|--------|---------------|------------|-----------|
|                                                          |   | As of June 30, |    |   | December 31, |   |
|                                                          |   | 2011                          |    |   | 2011              |   |      | 2010   |          |
|                                                          |   | US$                           |    |   | RMB               |   |      | RMB    |          |
|                                                          |   | (Note 1)                 |    |   |              |   |      |   | (Note 1) |       |
| Assets                                                        |   |                          |    |   |              |   |      |   |          |       |      |   |
| Current assets:                                               |   |                          |    |   |              |   |      |   |          |       |      |   |
| Cash and cash equivalents                                     |   |                          | 65,905  |   |              |   | 428,382   |   |          |       | 244,403   |   |
| Term deposits                                                 |   |                          | 66,154  |   |              |   | 430,000   |   |          |       | 704,000   |   |
| Accounts receivable                                           |   |                          | 8,605   |   |              |   | 55,937    |   |          |       | 59,420    |   |
| Inventory                                                     |   |                          | 150     |   |              |   | 972       |   |          |       | 993       |   |
| Prepaid expenses and other current assets                     |   |                          | 5,041   |   |              |   | 32,766    |   |          |       | 48,221    |   |
| Amounts due from related parties                              |   |                          | 529     |   |              |   | 3,438     |   |          |       | 3,438     |   |
| Deferred tax assets                                           |   |                          | 423     |   |              |   | 2,750     |   |          |       | 2,972     |   |
| Current portion of prepaid lease payments for land use rights |   |                          | 613     |   |              |   | 3,986     |   |          |       | 3,986     |   |
| Total current assets                                          |   |                          | 147,420 |   |              |   | 958,231   |   |          |       | 1,067,433 |   |
| Non-current deposits                                          |   |                          | 843     |   |              |   | 5,480     |   |          |       | 7,388     |   |
| Prepayment for construction projects                          |   |                          | 5,762   |   |              |   | 37,452    |   |          |       | -         |   |
| Property and equipment, net                                   |   |                          | 116,505 |   |              |   | 757,283   |   |          |       | 763,926   |   |
| Prepaid lease payments for land use rights - non-current      |   |                          | 26,999  |   |              |   | 175,496   |   |          |       | 177,544   |   |
| Acquired intangible assets, net                               |   |                          | 11,705  |   |              |   | 76,081    |   |          |       | 100,816   |   |
| Long-term investments                                         |   |                          | 462     |   |              |   | 3,000     |   |          |       | 3,000     |   |
| Goodwill                                                      |   |                          | 119,085 |   |              |   | 774,051   |   |          |       | 774,083   |   |
| Total assets                                                  |   |                          | 428,781 |   |              |   | 2,787,074 |   |          |       | 2,894,190 |   |

----

|                                                                                                                                                                                                                                                             |   |                          |    |   | As of        |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|---------|--------|-------------------|--------|
|                                                                                                                                                                                                                                                             |   | As of June 30, |    |   | December 31, |   |
|                                                                                                                                                                                                                                                             |   | 2011                          |    |   | 2011              |   |   | 2010 |   |
|                                                                                                                                                                                                                                                             |   | US$                           |    |   | RMB               |   |   | RMB |   |
|                                                                                                                                                                                                                                                             |   | (Note 1)                 |    |   |              |   |   | (Note 1) |   |
| Liabilities and equity                                                                                                                                                                                                                                           |   |                          |    |   |              |   |   |   |   |
| Current liabilities:                                                                                                                                                                                                                                             |   |                          |    |   |              |   |   |   |   |
| Accounts payable (including accounts payable of the consolidated VIE without recourse to ChinaCast Education Corporation of RMB1,563 and RMB1,635 as of June 30, 2011 and December 31, 2010, respectively)                                                       |   |                          | 5,304   |   |              |   | 34,478 |   |   |   | 48,602 |   |
| Accrued expenses and other current liabilities (including accrued expenses and other liabilities of the consolidated VIE without recourse to ChinaCast Education Corporation of RMB16,305 and RMB17,502 as of June 30, 2011 and December 31, 2010, respectively) |   |                          | 40,350  |   |              |   | 262,273 |   |   |   | 279,973 |   |
| Deferred revenues                                                                                                                                                                                                                                                |   |                          | 10,821  |   |              |   | 70,339 |   |   |   | 262,824 |   |
| Income taxes payable (including income taxes payable of  the consolidated VIE without recourse  to ChinaCast Education Corporation of RMB3,956 and RMB4,844 as of June 30, 2011 and December 31, 2010, respectively)                         |   |                          | 16,641  |   |              |   | 108,168 |   |   |   | 99,461 |   |
| Current portion of long-term bank borrowings (including current portion of long-term bank borrowings of the consolidated VIE without recourse to ChinaCast Education Corporation of nil as of June 30, 2011 and December 31, 2010)                               |   |                          | 26,154  |   |              |   | 170,000 |   |   |   | 170,000 |   |
| Other borrowings(including other borrowings of the consolidated VIE without recourse to ChinaCast Education Corporation of nil as of June 30, 2011 and December 31, 2010)                                                                                        |   |                          | 5,231   |   |              |   | 34,000 |   |   |   | 1,500 |   |
| Total current liabilities                                                                                                                                                                                                                                        |   |                          | 104,501 |   |              |   | 679,258 |   |   |   | 862,360 |   |
| Non-current liabilities:                                                                                                                                                                                                                                         |   |                          |    |   |              |   |   |   |   |   |   |   |
| Long-term bank borrowings (including long-term bank Borrowings of the consolidated VIE without recourse to ChinaCast Education Corporation of nil as of June 30, 2011 and December 31, 2010)                                                                     |   |                          | 16,154  |   |              |   | 105,000 |   |   |   | 90,000 |   |
| Deferred tax liabilities – non-current (including deferred tax liabilities – non-current of the consolidated VIE without recourse to ChinaCast Education Corporation of nil as of June 30, 2011 and December 31, 2010)                               |   |                          | 7,567   |   |              |   | 49,187 |   |   |   | 51,503 |   |
| Unrecognized tax benefits – non-current (including unrecognized tax benefits of the consolidated VIE without recourse to ChinaCast Education Corporation of RMB5,799 as of June 30, 2011 and December 31, 2010, respectively)                              |   |                          | 18,308  |   |              |   | 119,003 |   |   |   | 109,933 |   |
| Total non-current liabilities                                                                                                                                                                                                                                    |   |                          | 42,029  |   |              |   | 273,190 |   |   |   | 251,436 |   |
|                                                                                                                                                                                                                                                             |   |                          |    |   |              |   |   |   |   |   |   |   |
| Total liabilities                                                                                                                                                                                                                                                |   |                          | 146,530 |   |              |   | 952,448 |   |   |   | 1,113,796 |   |
| Commitments and contingencies                                                                                                                                                                                                                                    |   |                          |    |   |              |   |   |   |   |   |   |   |
| Equity:                                                                                                                                                                                                                                                          |   |                          |    |   |              |   |   |   |   |   |   |   |
| Ordinary shares (US$0.0001 par value; 100,000,000 shares authorized; 48,987,235 and 49,778,952 shares issued and outstanding as of June 30, 2011 and December 31, 2010, respectively)                                                                            |   |                          | 6       |   |              |   | 36 |   |   |   | 36 |   |
| Additional paid-in capital                                                                                                                                                                                                                                       |   |                          | 228,473 |   |              |   | 1,485,075 |   |   |   | 1,510,527 |   |
| Statutory reserve                                                                                                                                                                                                                                                |   |                          | 7,334   |   |              |   | 47,671 |   |   |   | 47,671 |   |
| Accumulated other comprehensive loss                                                                                                                                                                                                                             |   |                          | (430    | )      |              |   | (2,793 | ) |   |   | (3,194 | ) |
| Retained earnings                                                                                                                                                                                                                                                |   |                          | 42,882  |   |              |   | 278,728 |   |   |   | 199,862 |   |
|                                                                                                                                                                                                                                                             |   |                          |    |   |              |   |   |   |   |   |   |   |
| Total ChinaCast Education Corporation shareholders’ equity                                                                                                                                                                                                 |   |                          | 278,265 |   |              |   | 1,808,717 |   |   |   | 1,754,902 |   |
| Noncontrolling interest                                                                                                                                                                                                                                          |   |                          | 3,986   |   |              |   | 25,909 |   |   |   | 25,492 |   |
|                                                                                                                                                                                                                                                             |   |                          |    |   |              |   |   |   |   |   |   |   |
| Total equity                                                                                                                                                                                                                                                     |   |                          | 282,251 |   |              |   | 1,834,626 |   |   |   | 1,780,394 |   |
|                                                                                                                                                                                                                                                             |   |                          |    |   |              |   |   |   |   |   |   |   |
| Total liabilities and equity                                                                                                                                                                                                                                     |   |                          | 428,781 |   |              |   | 2,787,074 |   |   |   | 2,894,190 |   |

----

|                                                                                                                                                                                                                                                                                               |   | For the three months ended June 30, |    |    | For the six months ended June 30, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|---------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                               |   | 2011                                                              |    |    | 2011                              |   |   | 2010 |   |   | 2011 |   |   | 2011 |   |   | 2010 |   |
|                                                                                                                                                                                                                                                                                               |   | US$                                                               |    |    | RMB                               |   |   | RMB |   |   | US$ |   |   | RMB |   |   | RMB |   |
|                                                                                                                                                                                                                                                                                               |   | (Note 1)                                                     |    |    |                              |   |   | (Note 1) |   |   | (Note 1) |   |   |   |   |   | (Note 1) |   |
| Revenues:                                                                                                                                                                                                                                                                                          |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Service                                                                                                                                                                                                                                                                                            |   |                                                              | 23,357  |    |                              |   | 151,826 |   |   |   | 110,645 |   |   |   | 46,119 |   |   |   | 299,774 |   |   |   | 218,975 |   |
| Equipment                                                                                                                                                                                                                                                                                          |   |                                                              | 2,600   |    |                              |   | 16,897 |   |   |   | - |   |   |   | 2,600 |   |   |   | 16,897 |   |   |   | 31 |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              | 25,957  |    |                              |   | 168,723 |   |   |   | 110,645 |   |   |   | 48,719 |   |   |   | 316,671 |   |   |   | 219,006 |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of revenues:                                                                                                                                                                                                                                                                                  |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Service                                                                                                                                                                                                                                                                                            |   |                                                              | (12,027 | )       |                              |   | (78,177 | ) |   |   | (52,136 | ) |   |   | (21,674 | ) |   |   | (140,881 | ) |   |   | (100,355 | ) |
| Equipment                                                                                                                                                                                                                                                                                          |   |                                                              | (2,580  | )  |                              |   | (16,771 | )  |   |   | - |   |   |   | (2,580 | )  |   |   | (16,771 | )  |   |   | - |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              | (14,607 | )       |                              |   | (94,948 | ) |   |   | (52,136 | ) |   |   | (24,254 | ) |   |   | (157,652 | ) |   |   | (100,355 | ) |
|                                                                                                                                                                                                                                                                                               |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                                                                                                                                                                                                                                                                                       |   |                                                              | 11,350  |    |                              |   | 73,775 |   |   |   | 58,509 |   |   |   | 24,465 |   |   |   | 159,019 |   |   |   | 118,651 |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating (expenses) income:                                                                                                                                                                                                                                                                  |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Selling and marketing expenses (including share-based compensation of RMB nil and RMBnil for the three months ended June 30 for 2011 and 2010, respectively, share-based compensation of RMBnil and RMB410 for the six months ended June 30 for 2011 and 2010, respectively)             |   |                                                              | (116    | )       |                              |   | (752 | ) |   |   | (503 | ) |   |   | (182 | ) |   |   | (1,184 | ) |   |   | (1,308 | ) |
| General and administrative expenses (including share-based compensation of RMB4,044 and RMB1,712 for the three months ended June 30 for 2011 and 2010, respectively, share-based compensation of RMB5,359 and RMB4,192 for the six months ended June 30 for 2011 and 2010, respectively) |   |                                                              | (4,384  | )       |                              |   | (28,496 | ) |   |   | (14,925 | ) |   |   | (8,624 | ) |   |   | (56,057 | ) |   |   | (32,552 | ) |
| Foreign exchange gain (loss)                                                                                                                                                                                                                                                                       |   |                                                              | (60     | )       |                              |   | (389 | ) |   |   | (250 | )  |   |   | (92 | ) |   |   | (595 | ) |   |   | (553 | )  |
| Other operating income                                                                                                                                                                                                                                                                             |   |                                                              | (36     | )  |                              |   | (232 | ) |   |   | 207 |   |   |   | 18 |   |   |   | 118 |   |   |   | 214 |   |
|                                                                                                                                                                                                                                                                                               |   |                                                              |    |    |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total operating expenses, net                                                                                                                                                                                                                                                                      |   |                                                              | (4,596  | )       |                              |   | (29,869 | ) |   |   | (15,471 | ) |   |   | (8,880 | ) |   |   | (57,718 | ) |   |   | (34,199 | ) |

----

|                                                                               |   | For the three months ended June 30, |       |   | For the six months ended June 30, |   |
|------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|------------|--------|-----------------------------------------------------------------|--------|
|                                                                               |   | 2011                                                              |       |   | 2011                                                            |   |   | 2010 |   |   | 2011 |   |   | 2011 |   |   | 2010 |   |
|                                                                               |   | US$                                                               |       |   | RMB                                                             |   |   | RMB |   |   | US$ |   |   | RMB |   |   | RMB |   |
|                                                                               |   | (Note 1)                                                     |       |   |                                                            |   |   | (Note 1) |   |   | (Note 1) |   |   |   |   |   | (Note 1) |   |
| Income from operations                                                             |   |                                                              | 6,754      |   |                                                            |   | 43,906 |   |   |   | 43,038 |   |   |   | 15,585 |   |   |   | 101,301 |   |   |   | 84,452 |   |
| Interest income                                                                    |   |                                                              | 615        |   |                                                            |   | 3,998 |   |   |   | 3,534 |   |   |   | 1,261 |   |   |   | 8,195 |   |   |   | 6,488 |   |
| Interest expense                                                                   |   |                                                              | (638       | )      |                                                            |   | (4,148 | ) |   |   | (3,594 | ) |   |   | (1,192 | ) |   |   | (7,749 | ) |   |   | (6,565 | ) |
| Income before provision for income taxes and earnings in equity method investments |   |                                                              | 6,731      |   |                                                            |   | 43,756 |   |   |   | 42,978 |   |   |   | 15,654 |   |   |   | 101,747 |   |   |   | 84,375 |   |
| Provision for income taxes                                                         |   |                                                              | (263       | )      |                                                            |   | (1,708 | ) |   |   | (9,938 | ) |   |   | (3,459 | ) |   |   | (22,485 | ) |   |   | (19,749 | ) |
| Net income before earnings in equity investments                                   |   |                                                              | 6,468      |   |                                                            |   | 42,048 |   |   |   | 33,040 |   |   |   | 12,195 |   |   |   | 79,262 |   |   |   | 64,626 |   |
| Loss in equity investments                                                    |   |                                                              | -          |   |                                                            |   | - |   |   |   | (30 | )  |   |   | - |   |   |   | - |   |   |   | (60 | )  |
| Net income                                                                         |   |                                                              | 6,468      |   |                                                            |   | 42,048 |   |   |   | 33,010 |   |   |   | 12,195 |   |   |   | 79,262 |   |   |   | 64,566 |   |
| Less: Net income attributable to noncontrolling interest                           |   |                                                              | (28        | )      |                                                            |   | (184 | ) |   |   | (434 | ) |   |   | (60 | ) |   |   | (396 | ) |   |   | (868 | ) |
| Net income attributable to ChinaCast Education Corporation                         |   |                                                              | 6,440      |   |                                                            |   | 41,864 |   |   |   | 32,576 |   |   |   | 12,135 |   |   |   | 78,866 |   |   |   | 63,698 |   |
|  Net income                                                                   |   |                                                              | 6,468      |   |                                                            |   | 42,048 |   |   |   | 33,010 |   |   |   | 12,195 |   |   |   | 79,262 |   |   |   | 64,566 |   |
| Foreign currency translation adjustments                                           |   |                                                              | 25         |   |                                                            |   | 164 |   |   |   | 1,442 |   |   |   | 65 |   |   |   | 422 |   |   |   | 1,608 |   |
| Comprehensive income                                                               |   |                                                              | 6,493      |   |                                                            |   | 42,212 |   |   |   | 34,452 |   |   |   | 12,260 |   |   |   | 79,684 |   |   |   | 66,174 |   |
| Comprehensive income attributable to noncontrolling interest                       |   |                                                              | (24        | )      |                                                            |   | (157 | ) |   |   | (448 | ) |   |   | (64 | ) |   |   | (417 | ) |   |   | (820 | ) |
|  Comprehensive income attributable to ChinaCast Education Corporation         |   |                                                              | 6,469      |   |                                                            |   | 42,055 |   |   |   | 34,004 |   |   |   | 12,196 |   |   |   | 79,267 |   |   |   | 65,354 |   |
|                                                                               |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income per share                                                               |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to ChinaCast Education Corporation per share:              |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                              |   |                                                              | 0.13       |   |                                                            |   | 0.84 |   |   |   | 0.69 |   |   |   | 0.24 |   |   |   | 1.58 |   |   |   | 1.37 |   |
|                                                                               |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted                                                                            |   |                                                              | 0.13       |   |                                                            |   | 0.83 |   |   |   | 0.69 |   |   |   | 0.24 |   |   |   | 1.57 |   |   |   | 1.36 |   |
|                                                                               |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average shares used in computation:                                       |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                              |   |                                                              | 49,696,037 |   |                                                            |   | 49,696,037 |   |   |   | 47,250,261 |   |   |   | 49,796,348 |   |   |   | 49,796,348 |   |   |   | 46,606,070 |   |
|                                                                               |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted                                                                            |   |                                                              | 50,253,690 |   |                                                            |   | 50,253,690 |   |   |   | 47,454,800 |   |   |   | 50,368,075 |   |   |   | 50,368,075 |   |   |   | 46,880,355 |   |

----

|                                     |   | ChinaCast Education Corporation Shareholders |       |   |    |   |    |       |   |
|------------------------------------------|--------|-------------------------------------------------------------|------------|--------|---------|--------|---------|------------|--------|
|                                     |   |                                                        |       |   |    |   |    |       |   |   |   |   |   |   |   |   | Accumulated |   |   |   |   |   |   |   |
|                                     |   |                                                        |       |   |    |   |    | Additional |   |   |   |   |   |   |   |   | other |   |   |   |   |   |   |   |
|                                     |   | Ordinary                                                    |       |   | paid-in |   |    | Statutory  |   |   | Retained |   |   | comprehensive |   |   | Noncontrolling |   |   | Total |   |
|                                     |   | Shares                                                      |       |   | Amount  |   |    | capital    |   |   | reserve |   |   | earnings |   |   | loss |   |   | interest |   |   | equity |   |
|                                     |   |                                                        |       |   | RMB     |   |    | RMB        |   |   | RMB |   |   | RMB |   |   | RMB |   |   | RMB |   |   | RMB |   |
| Balance at January 1, 2010          |   |                                                        | 45,170,698 |   |    |   | 33      |       |   |   | 1,290,651 |   |   |   | 39,139 |   |   |   | 136,583 |   |   |   | (6,055 | ) |   |   | 23,167 |   |   |   | 1,483,518 |   |
| Issuance of shares of common stock       |   |                                                        | 4,428,254  |   |    |   | 3       |       |   |   | 232,987 |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 232,990 |   |
| Share-based compensation                 |   |                                                        | —    |   |    |   | — |       |   |   | 4,600 |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 4,600 |   |
| Issuance of vested shares                |   |                                                        | 180,000    |   |    |   | — |       |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Net income                               |   |                                                        | —    |   |    |   | — |       |   |   | — |   |   |   | — |   |   |   | 63,698 |   |   |   | — |   |   |   | 868 |   |   |   | 64,566 |   |
| Foreign currency translation adjustments |   |                                                        | —    |   |    |   | — |       |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 1,656 |   |   |   | (48 | ) |   |   | 1,608 |   |
|                                     |   |                                                        |       |   |    |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at June 30, 2010            |   |                                                        | 49,778,952 |   |    |   | 36      |       |   |   | 1,528,238 |   |   |   | 39,139 |   |   |   | 200,281 |   |   |   | (4,399 | ) |   |   | 23,987 |   |   |   | 1,787,282 |   |
|                                     |   |                                                        |       |   |    |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                     |   |                                                        |       |   |    | US$    | 5       |       |   | US$ | 224,741 |   |   | US$ | 5,756 |   |   | US$ | 29,453 |   |   | US$ | (647 | ) |   | US$ | 3,528 |   |   | US$ | 262,836 |   |

|                                |   | ChinaCast Education Corporation Shareholders |        |   |    |   |    |       |   |
|------------------------------------------|--------|-------------------------------------------------------------|-------------|--------|---------|--------|---------|------------|--------|
|                                     |   |                                                        |        |   |    |   |    |       |   |   |   |   |   |   |   |   | Accumulated |   |   |   |   |   |   |   |
|                                     |   |                                                        |        |   |    |   |    | Additional |   |   |   |   |   |   |   |   | other |   |   |   |   |   |   |   |
|                                     |   | Ordinary                                                    |        |   | paid-in |   |    | Statutory  |   |   | Retained |   |   | comprehensive |   |   | Noncontrolling |   |   | Total |   |
|                                     |   | Shares                                                      |        |   | Amount  |   |    | capital    |   |   | reserve |   |   | earnings |   |   | loss |   |   | interest |   |   | equity |   |
|                                     |   |                                                        |        |   | RMB     |   |    | RMB        |   |   | RMB |   |   | RMB |   |   | RMB |   |   | RMB |   |   | RMB |   |
| Balance at January 1, 2011          |   |                                                        | 49,778,952  |   |    |   | 36      |       |   |   | 1,510,527 |   |   |   | 47,671 |   |   |   | 199,862 |   |   |   | (3,194 | ) |   |   | 25,492 |   |   |   | 1,780,394 |   |
| Repurchase of common stock               |   |                                                        | (1,015,503) |   |    |   | — |       |   |   | (30,769) |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | (30,769 | )  |
| Share-based compensation                 |   |                                                        | 223,786     |   |    |   | — |       |   |   | 5,317 |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 5,317 |   |
| Net income                               |   |                                                        | —     |   |    |   | — |       |   |   | — |   |   |   | — |   |   |   | 78,866 |   |   |   | — |   |   |   | 396 |   |   |   | 79,262 |   |
| Foreign currency translation adjustments |   |                                                        | —     |   |    |   | — |       |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 401 |   |   |   | 21 |   |   |   | 422 |   |
|                                     |   |                                                        |        |   |    |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at June 30, 2011            |   |                                                        | 48,987,235  |   |    |   | 36      |       |   |   | 1,485,075 |   |   |   | 47,671 |   |   |   | 278,728 |   |   |   | (2,793 | ) |   |   | 25,909 |   |   |   | 1,834,626 |   |
|                                     |   |                                                        |        |   |    |   |    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                     |   |                                                        |        |   |    | US$    | 6       |       |   | US$ | 228,473 |   |   | US$ | 7,334 |   |   | US$ | 42,882 |   |   | US$ | (430 | ) |   | US$ | 3,986 |   |   | US$ | 282,251 |   |

----

|                                                                              |   | For the six months ended June 30, |    |
|-----------------------------------------------------------------------------------|--------|-----------------------------------------------------------------|---------|
|                                                                              |   | 2011                                                            |    |   | 2011 |   |   | 2010 |   |
|                                                                              |   | US$                                                             |    |   | RMB |   |   | RMB |   |
|                                                                              |   | (Note 1)                                                   |    |   |   |   |   |   | (Note 1) |   |
| Cash flows from operating activities:                                             |   |                                                            |    |   |   |   |   |   |   |   |   |   |
| Net income                                                                        |   |                                                            | 12,195  |   |   |   | 79,262 |   |   |   | 64,566 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |                                                            |    |   |   |   |   |   |   |   |   |   |
| Depreciation                                                                      |   |                                                            | 4,726   |   |   |   | 30,717 |   |   |   | 21,204 |   |
| Amortization of acquired intangible assets                                        |   |                                                            | 3,805   |   |   |   | 24,735 |   |   |   | 17,235 |   |
| Amortization of land use rights                                                   |   |                                                            | 315     |   |   |   | 2,048 |   |   |   | 1,627 |   |
| Share-based compensation                                                          |   |                                                            | 818     |   |   |   | 5,317 |   |   |   | 4,600 |   |
| Loss on disposal of property, plant and equipment                                 |   |                                                            | 112     |   |   |   | 728 |   |   |   | 1 |   |
| Loss in equity investments                                                        |   |                                                            | -       |   |   |   | - |   |   |   | 60 |   |
| Changes in assets and liabilities:                                                |   |                                                            |    |   |   |   |   |   |   |   |   |   |
| Accounts receivable                                                               |   |                                                            | 484     |   |   |   | 3,147 |   |   |   | 5,722 |   |
| Inventory                                                                         |   |                                                            | 3       |   |   |   | 21 |   |   |   | (54 | )  |
| Prepaid expenses and other current assets                                         |   |                                                            | 2,376   |   |   |   | 15,443 |   |   |   | (2,054 | )   |
| Non-current deposits                                                              |   |                                                            | 26      |   |   |   | 168 |   |   |   | 4,434 |   |
| Amounts due from related parties                                                  |   |                                                            | -       |   |   |   | - |   |   |   | 2,950 |   |
| Accounts payable                                                                  |   |                                                            | (2,169  | )  |   |   | (14,097 | ) |   |   | 3,852 |   |
| Accrued expenses and other current liabilities                                    |   |                                                            | (2,436  | ) |   |   | (15,836 | ) |   |   | (1,903 | )   |
| Deferred revenues                                                                 |   |                                                            | (29,613 | )  |   |   | (192,485 | )  |   |   | (116,343 | )  |
| Income taxes payable                                                              |   |                                                            | 1,340   |   |   |   | 8,707 |   |   |   | 13,022 |   |
| Deferred tax assets                                                               |   |                                                            | 34      |   |   |   | 222 |   |   |   | 606 |   |
| Deferred tax liabilities                                                          |   |                                                            | (356    | ) |   |   | (2,316 | ) |   |   | (2,653 | ) |
| Unrecognized tax benefits                                                         |   |                                                            | 1,395   |   |   |   | 9,070 |   |   |   | 8,070 |   |
| Net cash (used in) provided by operating activities                               |   |                                                            | (6,945  | )  |   |   | (45,149 | ) |   |   | 24,942 |   |
| Cash flows from investing activities:                                             |   |                                                            |    |   |   |   |   |   |   |   |   |   |
| Repayment from advance to related party                                           |   |                                                            | -       |   |   |   | - |   |   |   | 45 |   |
| Purchase of property and equipment                                                |   |                                                            | (3,991  | ) |   |   | (25,941 | ) |   |   | (39,051 | ) |
| Purchase of term deposits                                                         |   |                                                            | (58,462 | )  |   |   | (380,000 | )  |   |   | (43,000 | )  |
| Proceeds from maturity of term deposits                                           |   |                                                            | 100,615 |   |   |   | 654,000 |   |   |   | - |   |
| Deposits for investments                                                          |   |                                                            | (78     | ) |   |   | (510 | ) |   |   | (3,000 | ) |
| Prepayment for construction projects                                              |   |                                                            | (5,762  | )  |   |   | (37,452 | )  |   |   | - |   |
| Net cash provided by (used in) investing activities                               |   |                                                            | 32,322  |   |   |   | 210,097 |   |   |   | (85,006 | ) |

----

|                                         |   | For the six months ended June 30, |    |
|--------------------------------------------------------|--------|-----------------------------------------------------------------|---------|
|                                         |   | 2011                                                            |    |   | 2011 |   |   | 2010 |   |
|                                         |   | US$                                                             |    |   | RMB |   |   | RMB |   |
|                                         |   | (Note 1)                                                   |    |   |   |   |   | (Note 1) |   |
| Cash flows from financing activities:                  |   |                                                            |    |   |   |   |   |   |   |
| Other borrowings raised                                |   |                                                            | 5,231   |   |   |   | 34,000 |   |   |   | 82,000 |   |
| Repayment of other borrowings                          |   |                                                            | (231    | ) |   |   | (1,500 | ) |   |   | (67,200 | ) |
| Bank borrowings raised                                 |   |                                                            | 16,154  |   |   |   | 105,000 |   |   |   | 80,000 |   |
| Bank borrowings repaid                                 |   |                                                            | (13,846 | ) |   |   | (90,000 | ) |   |   | (78,400 | )  |
| Repayment of capital lease obligation                  |   |                                                            | -       |   |   |   | - |   |   |   | (44 | )  |
| Share repurchase                                       |   |                                                            | (4,734  | ) |   |   | (30,769 | ) |   |   | - |   |
| Deposit for bank borrowing guarantee                   |   |                                                            | (115    | ) |   |   | (750 | ) |   |   | - |   |
| Collection of deposit for bank borrowing guarantee     |   |                                                            | 462     |   |   |   | 3,000 |   |   |   | - |   |
| Proceeds from issuance of share, net of issuance costs |   |                                                            | -       |   |   |   | - |   |   |   | 232,990 |   |
| Net cash provided by financing activities              |   |                                                            | 2,921   |   |   |   | 18,981 |   |   |   | 249,346 |   |
| Effect of foreign exchange rate changes                |   |                                                            | 7       |   |   |   | 50 |   |   |   | 124 |   |
| Net increase in cash and cash equivalents              |   |                                                            | 28,305  |   |   |   | 183,979 |   |   |   | 189,406 |   |
| Cash and cash equivalents at beginning of the period   |   |                                                            | 37,600  |   |   |   | 244,403 |   |   |   | 327,628 |   |
|                                                   |   |                                                            |    |   |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at end of the period         |   |                                                            | 65,905  |   |   |   | 428,382 |   |   |   | 517,034 |   |

----

| 1. | BASIS OF PREPARATION |
|----|----------------------|

|   | · | Agreements that transfer economic benefits to CCT Shanghai |
|--------|--------|------------------------------------------------------------|

|   | · | Agreements that provide CCT Shanghai effective control over CCLX |
|--------|--------|------------------------------------------------------------------|

----

|   | •  | Levying fines and confiscating illegal income of the VIE or the Group's subsidiaries in China; |
|--------|---------------|------------------------------------------------------------------------------------------------|

|   | •  | Restricting or prohibiting use of the proceeds to finance the Group's business and operations in China; |
|--------|---------------|---------------------------------------------------------------------------------------------------------|

|   | •  | Requiring the Group to restructure the ownership structure or operations of the VIE or the Group's subsidiaries in China; |
|--------|---------------|---------------------------------------------------------------------------------------------------------------------------|

|   | •  | Requiring the Group to discontinue all or a portion of its business in China; and/or |
|--------|---------------|--------------------------------------------------------------------------------------|

|   | •  | Revoking the business licenses of the VIE or the Group's subsidiaries in China. |
|--------|---------------|---------------------------------------------------------------------------------|

----

|               |   |                          |   |   |              |   |   |   |   | As of |   |
|--------------------|--------|-------------------------------|--------|--------|-------------------|--------|--------|--------|--------|------------|--------|
|               |   | As of June 30, |   |   | December 31, |   |
|               |   | 2011                          |   |   | 2011              |   |   | 2010   |   |
|               |   | US$                           |   |   | RMB               |   |   | RMB    |   |
| Current assets     |   |                          | 13,226 |   |              |   | 85,966 |   |   |       | 87,023 |   |
| Non-current assets |   |                          | 511    |   |              |   | 3,322  |   |   |       | 3,101  |   |
| Total assets       |   |                          | 13,737 |   |              |   | 89,288 |   |   |       | 90,124 |   |

|                    |   |                          |   |   | As of        |   |
|-------------------------|--------|-------------------------------|--------|--------|-------------------|--------|
|                    |   | As of June 30, |   |   | December 31, |   |
|                    |   | 2011                          |   |   | 2011              |   |   | 2010 |   |
|                    |   | US$                           |   |   | RMB               |   |   | RMB |   |
| Current liabilities     |   |                          | 3,357  |   |              |   | 21,824 |   |   |   | 23,941 |   |
| Non-current liabilities |   |                          | 892    |   |              |   | 5,799 |   |   |   | 5,799 |   |
| Total liabilities       |   |                          | 4,249  |   |              |   | 27,623 |   |   |   | 29,740 |   |

|              |   | For the three months ended June 30, |   |   | For the six months ended June 30, |   |
|-------------------|--------|--------------------------------------------------------------|--------|--------|-----------------------------------|--------|
|              |   | 2011                                                         |   |   | 2011                              |   |   | 2010 |   |   | 2011 |   |   | 2011 |   |   | 2010 |   |
|              |   | US$                                                          |   |   | RMB                               |   |   | RMB |   |   | US$ |   |   | RMB |   |   | RMB |   |
| Revenues          |   |                                                         | 4,925  |   |                              |   | 32,012 |   |   |   | 31,654 |   |   |   | 9,692 |   |   |   | 62,997 |   |   |   | 62,046 |   |
| Net income (loss) |   |                                                         | 4,065  |   |                              |   | 26,423 |   |   |   | 25,850 |   |   |   | 7,734 |   |   |   | 50,273 |   |   |   | 50,169 |   |

|                                                 |   | For the six months ended June 30, |   |
|------------------------------------------------------|--------|------------------------------------------------------------|--------|
|                                                 |   | 2011                                                       |   |   | 2011 |   |   | 2010 |   |
|                                                 |   | US$                                                        |   |   | RMB |   |   | RMB |   |
| Net cash provided by /(used in) operating activities |   |                                                       | 7,561  |   |   |   | 49,149 |   |   |   | 60,071 |   |
| Net cash provided by /(used in) investing activities |   |                                                       | (202   | ) |   |   | (1,313 | ) |   |   | (429) |   |
| Net cash provided by/(used in) financing activities  |   |                                                       | -      |   |   |   | - |   |   |   | - |   |

----

| 2. | RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED |
|----|-----------------------------------------------------------|

|   | · | Highest-and-best-use and valuation-premise concepts for nonfinancial assets – the guidance indicates that the highest-and-best-use and valuation-premise concepts only apply to measuring the fair value of nonfinancial assets. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Application to financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk – the guidance permits an exception to fair value measurement principles for financial assets and financial liabilities (and derivatives) with offsetting positions in market risks or counterparty credit risk when several criteria are met. When the criteria are met, an entity can measure the fair value of the net risk position. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Premiums or discounts in fair value measure – the guidance states that "premiums or discounts that reflect size as a characteristic of the reporting entity's holding (specifically, a blockage factor that adjusts the quoted price of an asset or a liability because the market's normal daily trading volume is not sufficient to absorb the quantity held by the entity...) rather than as a characteristic of the asset or liability (for example, a control premium when measuring the fair value of a controlling interest) are not permitted in a fair value measurement." |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Fair value of an instrument classified in a reporting entity's shareholders' equity – the guidance prescribes a model for measuring the fair value of an instrument classified in shareholders' equity; this model is consistent with the guidance on measuring the fair value of liabilities. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Disclosures about fair value measurements – the guidance expands disclosure requirements, particularly for Level 3 inputs. Required disclosures include: |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | o | For fair value measurements categorized in level 3 of the fair value hierarchy: (1) a quantitative disclosure of the unobservable inputs and assumptions used in the measurement, (2) a description of the valuation process in place (e.g., how the entity decides its valuation policies and procedures, as well as changes in its analyses of fair value measurements, from period to period), and (3) a narrative description of the sensitivity of the fair value to changes in unobservable inputs and interrelationships between those inputs. |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | o | The level in the fair value hierarchy of items that are not measured at fair value in the statement of financial position but whose fair value must be disclosed. |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 3. | ACQUISITION |
|----|-------------|

| The fair value of total consideration of RMB325,482 as of the acquisition date was consist of: |   |   |    |
|------------------------------------------------------------------------------------------------|--------|--------|---------|
| Consideration paid in cash                                                                     |   |   | 295,000 |   |
| Fair value of deferred contingent consideration                                                |   |   | 30,482  |   |
| Total                                                                                          |   |   | 325,482 |   |

|                                       |   |   |          |          | Amortization                             |
|--------------------------------------------|--------|--------|---------------|---------------|------------------------------------------|
|                                       |   | RMB    |          | period        |
| Cash                                       |   |   | 73,113        |          |                                     |
| Other current assets                       |   |   | 2,408         |          |                                     |
| Non-current deposits                       |   |   | 6,374         |          |                                     |
| Property and equipment                     |   |   | 261,543       |          | 3-20 years                               |
| Prepaid lease payments for land use rights |   |   |   28,920 |          | Over the remaining leaseterm of 48 years |
| Intangible assets:                         |   |   |          |          |                                     |
| Customer relationship                      |   |   | 51,000        |          | Up to 47 months                          |
| Affiliation agreement                      |   |   | 14,000        |          | 59 months                                |
| Goodwill                                   |   |   | 192,440       |          |                                     |
| Other current liabilities                  |   |   | (105,424      | )   |                                     |
| Deferred revenues                          |   |   | (89,114       | )             |                                     |
| Deferred tax liabilities                   |   |   | (12,616       | )             |                                     |
| Long-term bank borrowings                  |   |   | (90,000       | )             |                                     |
| Unrecognized tax benefits                  |   |   | (7,162        | )             |                                     |
| Total                                      |   |   | 325,482       |          |                                     |

----

| Consideration paid in cash                      |   |   | 360,000 |   |
|-------------------------------------------------|--------|--------|---------|--------|
| Fair value of deferred contingent consideration |   |   | 78,721  |   |
| Total                                           |   |   | 438,721 |   |

|                                       |   |   |    | Amortization |
|--------------------------------------------|--------|--------|---------|--------------|
|                                       |   | RMB    |    | period       |
|                                       |   |   |    |         |
| Cash                                       |   |   | 19,942  |         |   |
| Other current assets                       |   |   | 7,771   |         |   |
| Property and equipment                     |   |   | 218,720 |         | 3 years-remaining |
|                                       |   |   |    |         | lease term |
| Prepaid lease payments for land use rights |   |   | 37,000  |         | Over the remaining |
|                                       |   |   |    |         | lease term |
| Intangible assets:                         |   |   |    |         |   |
| Customer relationship                      |   |   | 38,000  |         | up to 48 months |
| Affiliation Agreement                      |   |   | 31,000  |         | 3 years |
| Goodwill                                   |   |   | 270,308 |         |   |
| Bank borrowing                             |   |   | (54,000 | )            |   |
| Other current liabilities                  |   |   | (70,621 | )            |   |
| Deferred revenues                          |   |   | (2,753  | )            |   |
| Deferred tax liabilities                   |   |   | (29,003 | )            |   |
| Unrecognized tax benefits                  |   |   | (27,643 | )            |   |
| Total                                      |   |   | 438,721 |         |   |

----

|                                                |   | As of June30, 2011 |   |   | As ofDecember 31,2010 |   |
|-----------------------------------------------------|--------|-----------------------------------|--------|--------|---------------------------------|--------|
|                                           |   | RMB                               |   |   | RMB                             |   |
|                                           |   |                              |   |   |                            |   |
| Rental deposits                                |   |                              | 246    |   |                            |   | 415 |   |
| Utilities deposits                             |   |                              | 454    |   |                            |   | 208 |   |
| Guarantee deposit for borrowings               |   |                              | 1,750  |   |                            |   | 4,000 |   |
| Guarantee deposits for construction projects   |   |                              | 2,520  |   |                            |   | 2,765 |   |
| Deposit for investment project                 |   |                              | 510    |   |                            |   | - |   |
| Total                                          |   |                              | 5,480  |   |                            |   | 7,388 |   |

----

| 6. | ACQUIRED INTANGIBLE ASSETS, NET |
|----|---------------------------------|

|                         |   | As of June30, |    |   | As ofDecember 31, |   |
|----------------------------------------|--------|-------------------------|---------|--------|-----------------------------|--------|
|                              |   | 2011                    |    |   | 2010                        |   |
|                              |   | RMB                     |    |   | RMB                         |   |
| Customer relationships                 |   |                    |    |   |                        |   |
| Cost                              |   |                    | 129,329 |   |                        |   | 129,329 |   |
| Less: Accumulated amortization    |   |                    | (84,654 | )      |                        |   | (66,509 | ) |
|                                   |   |                    |    |   |                        |   |   |   |
|                              |   |                    | 44,675  |   |                        |   | 62,820 |   |
|                              |   |                    |    |   |                        |   |   |   |
| Affiliation agreement             |   |                    |    |   |                        |   |   |   |
| Cost                              |   |                    | 45,000  |   |                        |   | 45,000 |   |
| Less: Accumulated amortization    |   |                    | (13,594 | )      |                        |   | (7,004 | ) |
|                              |   |                    |    |   |                        |   |   |   |
|                              |   |                    | 31,406  |   |                        |   | 37,996 |   |
|                              |   |                    |    |   |                        |   |   |   |
| Acquired intangible assets, net   |   |                    | 76,081  |   |                        |   | 100,816 |   |

----

| 7.  | BORROWINGS |
|----------|------------|

| Counterparties |   | Amounts borrowedRMB |   | Borrowing date |           | Maturity date |               | Interest rate |   |
|----------------|--------|---------------------|--------|----------------|----------------|---------------|--------------------|---------------|--------|
| HU, Jiping     |   |                | 9,000  |           | March 3, 2011  |          | September 15, 2011 |          |   | 9 | % |
| CHEN, Ling     |   |                | 25,000 |           | March 21, 2011 |          | Within 3 months    |          |   | 9 | % |
|           |   |                | 34,000 |           |           |          |               |          |   |   |   |

| Counterparty |   | AmountsrepaidRMB |   | Borrowing date |          | Repayment date |             | Interest rate |   |
|--------------|--------|------------------|--------|----------------|---------------|----------------|------------------|---------------|--------|
| LI, Shaobi   |   |             | 1,500  |           | July 16, 2010 |           | January 20, 2011 |          |   | 7 | % |
|         |   |             | 1,500  |           |          |           |             |          |   |   |   |

| 8.  | SHARE REPURCHASE |
|----------|------------------|

| 9. | STOCK COMPENSATION PLAN |
|----|-------------------------|

----

|                                        |   | Number ofshares |     |   | Weightedaveragegrant-date fairvalues ofshares |   |   | Weightedaverageintrinsicvalue per shareat the grant date |   |
|---------------------------------------------|--------|----------------------|----------|--------|---------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------|--------|
|                                        |   |                 |     |   | US$                                                     |   |   | US$                                                                               |   |
| Nonvested share unvested at January 1, 2011 |   |                 | 297,504  |   |                                                    |   | 6.07   |                                                                              |   |   | 6.07 |   |
| Granted                                     |   |                 | 273,500  |   |                                                    |   | 6.07   |                                                                              |   |   | 6.07 |   |
| Vested                                      |   |                 | (124,612 | )      |                                                    |   | 6.00   |                                                                              |   |   | 6.00 |   |
| Fortfeited                                  |   |                 | -        |   |                                                    |   | -      |                                                                              |   |   | - |   |
| Nonvested share unvested at June 30, 2011   |   |                 | 446,392  |   |                                                    |   | 6.09   |                                                                              |   |   | 6.09 |   |

|                                          |   |            |      |   | Weighted |   |
|-----------------------------------------------|--------|-----------------|-----------|--------|----------|--------|
|                                          |   |            |      |   | average  |   |
|                                          |   | Number          |      |   | exercise |   |
|                                          |   | of options |      |   | price    |   |
|                                          |   |            |      |   | US$      |   |
| Options outstanding at December 31, 2010 |   |            | 1,200,000 |   |     |   | 6.30 |   |
|                                          |   |            |      |   |     |   |   |   |
| Granted                                       |   |            | —   |   |     |   | — |   |
| Exercised                                     |   |            | —   |   |     |   | — |   |
| Cancelled                                     |   |            | —   |   |     |   | — |   |

----

|                                      |   |            |      |   | Weighted |   |
|-------------------------------------------|--------|-----------------|-----------|--------|----------|--------|
|                                      |   |            |      |   | average  |   |
|                                      |   | Number          |      |   | exercise |   |
|                                      |   | of options |      |   | price    |   |
|                                      |   |            |      |   | US$      |   |
| Options outstanding at June 30, 2011 |   |            | 1,200,000 |   |     |   | 6.30 |   |
| Options exercisable at June 30, 2011 |   |            | 1,200,000 |   |     |   | 6.30 |   |

----

| 10. | INCOME TAXES |
|-----|--------------|

| 11. | GOODWILL |
|-----|----------|

|                       |   | As of June30, |    |   | As ofDecember31, |   |
|----------------------------|--------|-------------------------|---------|--------|-----------------------|--------|
|                       |   | 2011                    |    |   | 2010                  |   |
|                       |   | RMB                     |    |   | RMB                   |   |
| Beginning balance          |   |                    | 774,083 |   |                  |   | 503,771 |   |
| Addition from acquisitions |   |                    | -       |   |                  |   | 270,371 |   |
| Exchange rate impact       |   |                    | (32     | )      |                  |   | (59 | ) |
| Ending balances            |   |                    | 774,051 |   |                  |   | 774,083 |   |

----

| 12. | NET INCOME PER SHARE |
|-----|----------------------|

|                                                                                                                                      |   | For the three months ended June 30, |       |   | For the six months ended June 30, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|------------|--------|-----------------------------------------------------------------|--------|
|                                                                                                                                      |   | 2011                                                              |       |   | 2010                                                            |   |   | 2011 |   |   | 2010 |   |
| Numerator used in basic and diluted net income per share:                                                                                 |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |
| Net income attributable to ChinaCast Education Corporation                                                                                |   | RMB                                                               | 41,864     |   |                                                            | RMB    | 32,576 |   |   | RMB | 78,866 |   |   | RMB | 63,698 |   |
|                                                                                                                                      |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Shares (denominator):                                                                                                                     |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average ordinary shares outstanding used in computing basic net income per share                                                 |   |                                                              | 49,696,037 |   |                                                            |   | 47,250,261 |   |   |   | 49,796,348 |   |   |   | 46,606,070 |   |
|                                                                                                                                      |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Plus:                                                                                                                                     |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Incremental ordinary shares from assumed conversions of stock options, vesting of restricted shares and exercises of Underwriter Warrants |   |                                                              | 557,653    |   |                                                            |   | 204,539 |   |   |   | 571,727 |   |   |   | 274,285 |   |
|                                                                                                                                      |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average ordinary shares outstanding used in computing diluted net income per share                                               |   |                                                              | 50,253,690 |   |                                                            |   | 47,454,800 |   |   |   | 50,368,075 |   |   |   | 46,880,355 |   |
|                                                                                                                                      |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net income per share – basic:                                                                                                       |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to ChinaCast Education Corporation                                                                                |   | RMB                                                               | 0.84       |   |                                                            | RMB    | 0.69 |   |   | RMB | 1.58 |   |   | RMB | 1.37 |   |
|                                                                                                                                      |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net income per share – diluted:                                                                                                     |   |                                                              |       |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to ChinaCast Education Corporation                                                                                |   | RMB                                                               | 0.83       |   |                                                            | RMB    | 0.69 |   |   | RMB | 1.57 |   |   | RMB | 1.36 |   |

----

| 13. | SEGMENT INFORMATION |
|-----|---------------------|

|                                                                        |   | For the three months ended June 30, |    |   | For the six months ended June 30, |   |
|-----------------------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|--------|-----------------------------------------------------------------|--------|
|                                                                        |   | 2011                                                              |    |   | 2010                                                            |   |   | 2011 |   |   | 2010 |   |
|                                                                        |   | RMB                                                               |    |   | RMB                                                             |   |   | RMB |   |   | RMB |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |
| Revenues from external customers:                                           |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |
| ELG                                                                         |   |                                                              | 65,341  |   |                                                            |   | 47,621 |   |   |   | 112,961 |   |   |   | 94,020 |   |
| TUG                                                                         |   |                                                              | 103,382 |   |                                                            |   | 63,024 |   |   |   | 203,710 |   |   |   | 124,986 |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                        |   |                                                              | 168,723 |   |                                                            |   | 110,645 |   |   |   | 316,671 |   |   |   | 219,006 |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Additional analysis of revenues from ELG by product or service:             |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Service                                                                     |   |                                                              | 48,444  |   |                                                            |   | 47,621 |   |   |   | 96,064 |   |   |   | 93,989 |   |
| Equipment                                                                   |   |                                                              | 16,897  |   |                                                            |   | - |   |   |   | 16,897 |   |   |   | 31 |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                        |   |                                                              | 65,341  |   |                                                            |   | 47,621 |   |   |   | 112,961 |   |   |   | 94,020 |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Additional analysis of revenues from ELG by business lines:                 |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Post secondary education distance learning                                  |   |                                                              | 30,501  |   |                                                            |   | 28,412 |   |   |   | 60,351 |   |   |   | 56,465 |   |
| K-12 and content delivery                                                   |   |                                                              | 15,741  |   |                                                            |   | 15,974 |   |   |   | 31,523 |   |   |   | 31,981 |   |
| Vocational training, enterprise/government training and networking services |   |                                                              | 19,099  |   |                                                            |   | 3,235 |   |   |   | 21,087 |   |   |   | 5,574 |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                        |   |                                                              | 65,341  |   |                                                            |   | 47,621 |   |   |   | 112,961 |   |   |   | 94,020 |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| Income from operations:                                                     |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
| ELG                                                                         |   |                                                              | 23,278  |   |                                                            |   | 27,395 |   |   |   | 47,760 |   |   |   | 52,835 |   |
| TUG                                                                         |   |                                                              | 20,628  |   |                                                            |   | 15,643 |   |   |   | 53,541 |   |   |   | 31,617 |   |
|                                                                        |   |                                                              |    |   |                                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                        |   |                                                              | 43,906  |   |                                                            |   | 43,038 |   |   |   | 101,301 |   |   |   | 84,452 |   |

|            |   | As of June |          |   | As ofDecember |   |
|-----------------|--------|----------------------|---------------|--------|--------------------|--------|
|            |   |                 | 30, 2011 |   |               |   | 31, 2010 |   |
|            |   | RMB                  |          |   | RMB                |   |
| Segment assets: |   |                 |          |   |               |   |   |   |
| ELG             |   |                 | 630,188       |   |               |   | 656,795 |   |
| TUG             |   |                 | 2,156,886     |   |               |   | 2,237,395 |   |
|            |   |                 |          |   |               |   |   |   |
|            |   |                 | 2,787,074     |   |               |   | 2,894,190 |   |

----

| 14. | WARRANTS AND UNIT PURCHASE OPTIONS |
|-----|------------------------------------|

----

| 15. | CONTINGENCIES |
|-----|---------------|

|   | a) | On March 21, 2006, after obtaining the approval of its shareholders, the Company amended its certificate of incorporation, the effect of which was, among other things, to eliminate the provision of the certificate of incorporation that purported to prohibit the amendment of the “business combination” provisions contained therein and to extend the date before which the Company must complete a business combination, to avoid being required to liquidate, from March 23, 2006 to December 31, 2006. Because extending the period during which the Company could consummate a business combination was not contemplated by the initial public offering (“IPO”) prospectus, shareholders may have securities law claims against the Company for rescission (under which a successful claimant would have the right to receive the total amount paid for his or her shares, plus interest and less any income earned on the shares, in exchange for surrender of the shares) or damages (compensation for loss on an investment caused by alleged material misrepresentations or omissions in the sale of the security). Such claims might entitle shareholders asserting them to up to US$6.00 per share of common stock, based on the initial offering price of the public units comprised of stock and warrants, less any amount received from sale of the original warrants purchased with them and plus interest from the date of the IPO. A successful claimant for damages under federal or state law could be awarded an amount to compensate for the decrease in value of his or her shares caused by the alleged violation (including, possibly, punitive damages), together with interest, while retaining the shares. The Company believes the shareholder claims for rescission or damages are remote. As such, the Company has not recorded a liability for such possible rescission. However, the Company cannot definitively predict whether shareholders will bring such claims, how many might bring them or the extent to which they might be successful. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | b) | The Company may be subject to claims for rescission or other securities law claims resulting from the failure to disclose that the charter provision purporting to prohibit certain amendments was possibly inconsistent with Delaware’s General Corporation Law. The Company may also be subject to such claims as a result of inaccuracies in other disclosures, as follows: It may be argued that the IPO prospectus misstated the vote required by its charter to approve a business combination by providing that “[w]e will proceed with a business combination only if the public shareholders who own at least a majority of the shares of common stock sold in [that] offering vote in favor [of it] ...,” and that the Exchange Act reports have been inaccurate in describing ChinaCast as a leading provider of e-learning content (as opposed to being primarily a content carrier). On November 13, 2006, the Company filed a Current Report on Form 8-K with the SEC regarding this last item. The Company is unable to predict the likelihood that claims might be made with regard to the foregoing or estimate any amounts for which it might be liable if any such claim was made. As such, the Company has not recorded a liability for such possible rescission. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c) | On October 5, 2009, CCH, the Company's subsidiary in Bermuda, consummated the acquisition of the entire interest in East Achieve from the former sole owner of East Achieve.  East Achieve holds the entire interest in Xijui. Xijiu holds the entire interest in which in Lianhe turns holds the entire interest in Lijiang College.  Lijiang College is a private college affiliated with Guangxi Normal University.  The total consideration for the acquisition is up to RMB365,000, of which RMB295,000 was paid during 2009.  The remaining amount of the consideration is to be calculated as following statement. For the academic year of 2009 (i.e. from September 1, 2009 to August 31, 2010), if the net profit as determined under the relevant sale and purchase agreement of the Lijiang College is less than RMB55,000, CCH is entitled to deduct an amount equal to 6.6 times of the difference between the net profit and RMB55,000 from the remaining amount of consideration. The contingent consideration was recorded as a liability at fair value of RMB30,482 and the change of its fair value was recorded in earnings at each reporting date.  As a result, the expected total consideration was RMB325,482 as of the date of acquisition. There was no change in the fair value of the remaining consideration up to June 30, 2010. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   | d) | CCTSH injected RMB6 million, RMB6 million and RMB18 million into QPU as capital contribution in February, August and September of 2010 respectively.  Subsequently, YPSH borrowed RMB18 million from QPU. The PRC law and regulations restricts capital withdrawal from established companies. It may be argued that the borrowing from QPU could potentially be assessed as a capital withdrawal and may be subject to penalty ranging from 2-10% of the withdrawn amount. The Company has recorded a RMB1.8 million provision for such possible penalty. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16. | SUBSEQUENT EVENT |
|-----|------------------|

----

----

|                                                                 |   | Three Months ended |   |
|----------------------------------------------------------------------|--------|------------------------------|--------|
|                                                                 |   | June 30, 2011      |   |   | June 30, 2010 |   |
|                                                                 |   | (millions)                   |   |   | (millions) |   |
|                                                                 |   | US$                          |   |   | RMB |   |   | RMB |   |
| Post secondary education distance learning                           |   |                         | 4.7    |   |   |   | 30.5 |   |   |   | 28.4 |   |
| K-12 and content delivery                                            |   |                         | 2.4    |   |   |   | 15.7 |   |   |   | 16.0 |   |
| Vocational training, enterprise / government training and networking |   |                         | 3.0    |   |   |   | 19.1 |   |   |   | 3.2 |   |
| Total ELG revenue                                                    |   |                         | 10.1   |   |   |   | 65.3 |   |   |   | 47.6 |   |

|                                                                 |   | Six Months ended |   |
|----------------------------------------------------------------------|--------|----------------------------|--------|
|                                                                 |   | June 30, 2011    |   |   | June 30, 2010 |   |
|                                                                 |   | (millions)                 |   |   | (millions) |   |
|                                                                 |   | US$                        |   |   | RMB |   |   | RMB |   |
| Post secondary education distance learning                           |   |                       | 9.3    |   |   |   | 60.4 |   |   |   | 56.5 |   |
| K-12 and content delivery                                            |   |                       | 4.9    |   |   |   | 31.5 |   |   |   | 32.0 |   |
| Vocational training, enterprise / government training and networking |   |                       | 3.2    |   |   |   | 21.1 |   |   |   | 5.5 |   |
| Total ELG revenue                                                    |   |                       | 17.4   |   |   |   | 113.0 |   |   |   | 94.0 |   |

----

----

----

|                                      |   |                    |    |   | As of        |   |
|-------------------------------------------|--------|-------------------------|---------|--------|-------------------|--------|
|                                      |   | As of              |    |   | December 31, |   |
|                                      |   | June 30, 2011 |    |   | 2010              |   |
|                                      |   | (millions)              |    |   | (millions)        |   |
|                                      |   | RMB                     |    |   | US$               |   |   | RMB |   |
| Cash and cash equivalents                 |   |                    | 428.4   |   |              |   | 65.9 |   |   |   | 244.4 |   |
| Term deposits                             |   |                    | 430.0   |   |              |   | 66.2 |   |   |   | 704.0 |   |
| Subtotal                                  |   |                    | 858.4   |   |              |   | 132.1 |   |   |   | 948.4 |   |
| Accounts receivable                       |   |                    | 55.9    |   |              |   | 8.6 |   |   |   | 59.4 |   |
| Inventory                                 |   |                    | 1.0     |   |              |   | 0.2 |   |   |   | 1.0 |   |
| Prepaid expenses and other current assets |   |                    | 32.8    |   |              |   | 5.0 |   |   |   | 48.2 |   |
| Total current assets                      |   |                    | 958.2   |   |              |   | 147.4 |   |   |   | 1,067.4 |   |
| Total assets                              |   |                    | 2,787.1 |   |              |   | 428.8 |   |   |   | 2,894.2 |   |

----

----

----

|   | a. | We have employed an additional senior qualified accountant who is well experienced in preparing financial statements for listed companies and in internal control reviews. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | We have strengthened our financial teams at the operation level by adding resources as well as provided staff trainings so that the teams are fully aware and supportive of the Company’s commitment to the quality of its financial reporting. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | We have engaged external contractors who are experienced in US GAAP conversion to assist the financial teams at the universities starting from the first quarter of 2011 to ensure the timely availability of accurate US GAAP conversion information for review by the auditor. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d. | We have established training objectives for senior and corporate financial staff members to (i) update them on new developments in US GAAP reporting requirements, (ii) provide additional training through structured professional programs including programs in the US and (iii) encourage and sponsor staff members to pursue US accounting qualifications including obtaining a CPA license. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Period                             | Total Number of Shares Purchased | Average Price Paid for Share | Total Number of Shares Purchased as Part of Publicly Announced Plan (a) | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plan (a) |
|------------------------------------|----------------------------------|------------------------------|-------------------------------------------------------------------------|---------------------------------------------------------------------------------|
| May 1, 2011, through May 31, 2011  | 174,710                          | $6.13                        | 174,710                                                                 | 48,928,676                                                                      |
| June 1, 2011 through June 30, 2011 | 840,793                          | $4.39                        | 840,793                                                                 | 45,239,619                                                                      |
| Total                              | 1,015,503                        | $4.69                        | 1,015,503                                                               |                                                                            |

| (a) | On March 16, 2011, we announced that the Board of Directors authorized a US$50 million share-repurchase plan (the “2011 Stock Repurchase Plan”) to be utilized over the next 12 months. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.1   |   | Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                             |
| 31.2   |   | Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|   |   |                                                                                                                                                                                             |
| 32.1   |   | Certification of Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                  |
|   |   |                                                                                                                                                                                             |
| 32.2   |   | Certification of Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                  |

----

|                      | CHINACAST EDUCATION CORPORATION                        |                        |
|---------------------------|--------------------------------------------------------|-----------------------------|
|                      | (Registrant)                                           |                        |
|                      |                                                   |                        |   |
| Date: August 9, 2011 | By:                                                    | /s/ Ron Chan Tze Ngon       |   |
|                      | Name:                                                  | Ron Chan Tze Ngon           |   |
|                      | Title:                                                 | Chairman of the Board,      |   |
|                      | Chief Executive Officer (Principal Executive Officer)  |
|                      |                                                   |                        |   |
|                      | By:                                                    | /s/ Antonio Sena            |   |
|                      | Name:                                                  | Antonio Sena                |   |
|                      | Title:                                                 | Chief Financial Officer and |   |
|                      | Secretary (Principal Accounting and Financial Officer) |

----

| ExhibitNo. |   | Description                                                                                                                                                                                      |
|------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|       |   |                                                                                                                                                                                             |
| 31.1       |   | Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|       |   |                                                                                                                                                                                             |
| 31.2       |   | Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|       |   |                                                                                                                                                                                             |
| 32.1       |   | Certification of Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                  |
|       |   |                                                                                                                                                                                             |
| 32.2       |   | Certification of Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                  |

----