| Name                                                                               |   | Domicile and date ofincorporation |   | Percentage ofownership bythe Registrant |   | Principal activities |
|------------------------------------------------------------------------------------|--------|--------------------------------------------------|--------|--------------------------------------------------------|--------|---------------------------|
|                                                                               |   |                                             |   |                                                   |   |                      |
| Mix Creation Limited (“MC”)                                            |   | The British Virgin IslandsNovember 7, 1997       |   |                                                   | 100    | %                         | Investment holding |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| Rich Delta Limited  (“RD”)                                   |   | The British Virgin IslandsOctober 28, 1998       |   |                                                   | 100    | %                         | Investment holding |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| Hero Treasure Limited (“HT”)                                           |   | The British Virgin IslandsApril 19, 2004         |   |                                                   | 100    | %                         | Investment holding |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| Keen General Limited(“KG”)                                             |   | The British Virgin IslandsJuly 20, 1998          |   |                                                   | 100    | %                         | Investment holding |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| Delta Link Limited(“DL”)                                               |   | The British Virgin IslandsOctober 29, 1998       |   |                                                   | 100    | %                         | Investment holding |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| New Dragon Asia Flour (Yantai) Company Limited (“NDAFLY”)              |   | The PRCAugust 13, 1999                           |   |                                                   | 90     | % (a)                     | Manufacture, marketing and distribution of flour |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| New Dragon Asia Food (Yantai) Company Limited (“NDAFY”)                |   | The PRCDecember 24, 1998                         |   |                                                   | 90     | % (b)                     | Manufacture, marketing and distribution of instant noodles |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| New Dragon Asia Food (Sanhe) Company Limited (“NDAFS”)                 |   | The PRCDecember 25, 1998                         |   |                                                   | 79.64  | % (b)                     | Manufacture, marketing and distribution of instant noodles |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| Penglai New Dragon Jin Qiao Food Company Limited (“PNDJQ”)             |   | The PRCDecember 5, 2003                          |   |                                                   | 100    | %                         | Manufacture, marketing and distribution of flour |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| New Dragon Asia (Longkou) Packing Materials Company Limited (“NDALPM”) |   | The PRCJanuary 10, 2006                          |   |                                                   | 100    | %                         | Manufacture and sale of packing materials |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| New Dragon Asia (LongKou) Food Company Limited (“NDALS”)               |   | The PRCMarch 17, 2005                            |   |                                                   | 100    | %                         | Manufacture, marketing and distribution of soybean products |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| Shandong Xinlongya Industry and Trade Company Limited (“SXDC”)         |   | The PRCSeptember 27, 2005                        |   |                                                   | 100    | %                         | Marketing and distribution of instant noodles, flour and soybean products |
|                                                                               |   |                                             |   |                                                   |   |                      |   |
| New Dragon Asia Food (Chengdu) Company Limited (“NDAFC)                      |   | The PRCFebruary 24, 2006                         |   |                                                   | 90     | %                         | Manufacture, marketing and distribution of instant noodles |

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