This excerpt taken from the TCM 20-F filed Jun 30, 2008.
Unless otherwise indicated, references in this annual report on Form 20-F to:
This annual report contains translations of certain Renminbi amounts into U.S. dollars at specified rates. Unless otherwise stated, all translations from Renminbi to U.S. dollars in this annual report have been made at the rate of RMB7.2946 to US$1.00, which was the noon buying rate as of December 31, 2007 in The City of New York for cable transfers in Renminbi per U.S. dollar as certified for customs purposes by the Federal Reserve Bank of New York. We make no representation that the Renminbi or dollar amounts referred to in this annual report could have been or could be converted into dollars or Renminbi, as the case may be, at any particular rate or at all. See Item 3. Key InformationD. Risk FactorsRisk Related to Doing Business in ChinaFluctuation in the value of the Renminbi may have a material adverse effect on your investment. On June 27, 2008, the noon buying rate was RMB6.8618 to US$1.00.
We completed our initial public offering of 9,865,000 ADSs on March 16, 2007. On March 16, 2007, we listed our ADSs on the New York Stock Exchange under the symbol TCM. In April 2007, the underwriters exercised their over-allotment option for the purchase of an additional 312,200 ADSs.