LDK Solar Co., Ltd. - Asia Europe Clean Energy (Solar) Advisory Co ...

On September 21, 2006, the CSRC published on its official website procedures regarding its approval of
overseas listings by special purpose companies. The CSRC approval procedures require the filing of a number
of documents with the CSRC and it could take several months to complete the approval process.
The application of the new M&A rule with respect to overseas listings of special purpose companies
remains unclear with no consensus currently among leading PRC law firms regarding the scope of the
applicability of the CSRC approval requirement.
Our PRC counsel, Grandall Legal Group, has advised us that, based on their understanding of the current
PRC laws, regulations and rules, including the new M&A rule and the CSRC procedures announced on
September 21, 2006:
‚ CSRC currently has not issued any definitive rule or interpretation requiring offerings like ours
pursuant to this prospectus to be subject to its new procedure; and
‚ In spite of the above, because we completed our restructuring and established an overseas holding
structure before September 8, 2006, the effective date of the new M&A rule, neither the new M&A
rule nor the CSRC procedures require an application to be submitted to the CSRC for the approval of
the listing and trading of our ADSs on the New York Stock Exchange unless we are clearly required to
do so by possible later rules of CSRC.
See ""Risk Factors Ì Risks Relating to Business Operations in China Ì Our failure to obtain the prior
approval of the China Securities Regulatory Commission, or the CSRC, of the listing and trading of our ADSs
on the New York Stock Exchange could significantly delay this offering or adversely affect our business and
reputation and the trading price of our ADSs, and may also create uncertainties for this offering.''
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