C-12

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1

2 C-12

3 : C-12

4 2

5 2,000 5, % 170 1,000 1,500 1,

6 11.2% 13.7% 22.6% 13% 21.9% 20.4% 5, % , , ,000 70% 900 1,140 40%

7 C-12 (C- 12)12 C-12 C-12 C-1212 (1) (2) (3) (4) (CT Scan) (MRI) (Ultrasound Scan) (PET Scan) (Endoscopy) (Biopsies) 3

8 HPV DNA HPV 80% HPV 70% 91% HPV100HPV HPV 13 HPV16/18/31/33/ 35/39/45/51/52/56/58/59/68 80% 4

9 60Pap Test 50% 70% HPV HPVHPV HPV PCRHPV DNA PCR DNA DNA 95% HPV HPV HPVHPV HPV HPV HPV HPV DNAHPV 70% 30% HPV HPV CAT 5

10 * * * * Butterfield Corporate Services Limited 65 Front Street, Hamilton, Bermuda Canon's Court, 22 Victoria Street, Hamilton HM 12, Bermuda (852) (852) HK 233 HK 6

11 C-12 C-12 C-12 C-12 HD-2001A HD-2001A HD-2001A C-12 7

12

13 9

14 C-12 HPV DNA 59.4% 256,400,000160,800,000 C-12 C ,200,000 73,600, %

15 11 8,900,000 15,100, ,000, ,900, %59.3% 183,400,000115,100,000 37,400,000 10,000, ,000 1,100,000 HPV DNA 57 C-12 C-12 HPV DNA 590 C-12

16 ,000 1, ,500 1,000

17 KM2003 KM2003 PIP DNALIP PIP LIP PCR HPV DNA PCR DNA 95% 13

18 KM2003 C (61%)(15%) (9%) (2%) (14%)

19 81.6% 10.6% 11.4% 8% 16% 2, ,000, % % 10.1% 6.2% 13,786 4, % 9.5% 11.0% 15.4% 4.7% 37,800, ,500, ,700,00028% 43%47% KM2003 HPV DNA 15

20 640,000 12,00090,000 HPV DNA 57 C-12 C-12 5,900,000 PIP C-12 C C-12 C % 16

21 C-12 4,000 C C-12 C-12 C-12 17

22 C-12 51% HPV DNA DNA HPV DNA (>95%) 50 60% SNIPERTM FPCR 288, ,000 50, , ,000,000 HPV DNA HPV ,300,000 73,600, % % C-12219,000, ,900, % 183,400, ,200, % 18

23 2,200,000 1,500, % 37,400,000 10,000, ,0001,000,000 HPV DNA 25,000 HPV DNA 57 KM2003 HPV DNA 51% 19

24 58 80% KM2003 KM2003 (1) 400 C-12 81, (2) C-121,000 20

25 C-12 (3) PIP LIP PIP LIP LIP20 SNIPER TM HPV DNA (5) (4) 21

26 22 PIP LIP RAD 3 5% Auto RAD 5,000 ISD ISD 2,000 KM2003

27 , ,721 5,992 23,587 14, , ,650 39, ,500,000441,600, ,900, ,600, ,400, ,100, % 50.8% 138,100,000 95,100,

28 HD Global LimitedHD Global HD Global

29 48 ()

30 ()

31 6/6 6/6 2/2 6/6 6/6 6/6 2/6 2/2 2/2 2/6 2/2 2/6 2/2 2/2 27

32 28 A A

33 29 (a) (b) (c)

34 30 1,600,000 1,400, ,60067,000

35 42 (i) ,090, ,258, ,204,000 (ii) 49% 17% 46% 20% 17 5%

36 ,053,889,075 (i) 36.36% 123,355,263 (i) 4.26% 1,077,569,075 (ii) 37.18% 123,355,263 (ii) 4.26% (i) Ming Yuan Holdings Limited Ming Yuan Investments Group Limited Ming Yuan Holdings Limited 50% 50% (ii) 23,680,000 Ming Yuan Investments Group Limited 1,053,899,075 26,500,000 26,500,000 10,000,000 10,000,000 12,400,000 12,400,000 2,400,000 2,400,000 32

37 ,300,000 5,300,000 5,300,000 5,300,000 5,300,000 5,300,000 5,300,000 5,300,000 5,300,000 5,300,000 26,500,000 26,500, ,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 10,000,000 10,000, ,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000, , , , , , ,000 10,000,000 2,400,000 12,400, , , , , , ,000 2,400,000 2,400,000 46,500,000 4,800,000 51,300, ,100,000 (15,700,000) (1,200,000) 1,200,000 18,100,000 (13,500,000) (1,200,000) 3,400,000 16,900,000 (5,400,000) 11,500,000 16,900,000 16,900,000 16,900,000 16,900, ,060,000 (3,260,000) 3,800,000 7,060,000 7,060,000 7,060,000 7,060,000 86,900,000 21,180,000 (37,860,000) (2,400,000) 67,820, ,400,000 25,980,000 (37,860,000) (2,400,000) 119,120,000 33

38 Ming Yuan Investments Group Limited 1,053,889,075 (i) 36.36% Ming Yuan Holdings Limited 1,053,889,075 (i) 36.36% 1,053,889,075 (i) 36.36% 1,077,569,075 (i) (ii) 37.18% IFS Capital LimitedInternational 550,000,000 (iii) 18.98% Factors (Singapore) Limited First Capital Insurance Limited India International Insurance Pte Ltd Philip Assets Pte. Ltd 550,000,000 (iii) 18.98% Lim Hua Min 550,001,000 (iv) 18.98% Highbridge International LLC 153,513,513 (v) 5.30% Highbridge Master L.P. 153,513,513 (v) 5.30% Highbridge Asia Opportunities Master L.P. 153,513,513 (v) 5.30% Highbridge G.P., Ltd. 153,513,513 (v) 5.30% Clive Harris 153,513,513 (v) 5.30% Richard Crawshaw 153,513,513 (v) 5.30% Citigroup Inc. 195,232,425 (vi) 6.74% Ming Yuan Investments 123,355,263 (i) 4.26% Group Limited Ming Yuan Holdings Limited 123,355,263 (i) 4.26% 123,355,263 (i) 4.26% 123,355,263 (i) (ii) 4.26% 34

39 (i) Ming Yuan Holdings Limited Ming Yuan Investments Group Limited Ming Yuan Holdings Limited 50% (ii) 23,680,000 Ming Yuan Investments Group Limited 1,053,889,075 Citigroup Global Markets Ltd Citigroup Global Markets Europe Ltd Citigroup Global Markets Europe Ltd Citigroup Global Markets LLC Citigroup Global Markets (International) Finance AG % 2.67% Citigroup Global Markets LLC Citigroup Financial Products Inc. Citibank N.A. Citigroup Holdings Inc. Citigroup Holdings Inc. Citigroup Inc. (iii) 550,000,000 IFS Capital LimitedInternational Factors (Singapore) Limited First Capital Insurance Limited India International Insurance Pte Ltd Phillip Assets Pte. Ltd. IFS Capital Limited 40.4% Phillip Assets Pte. Ltd. 550,000,000Lim Hua MinPhillip Assets Pte. Ltd. 85% 5% (iv) Phillip Assets Pte. Ltd. 550,000,000 1,000 Lim Hua Min 85% Lim Hua Min 550,001, (v) (vi) 153,513,513 Highbridge Master L.P. Highbridge International LLC Highbridge Master L.P. Highbridge Asia Opportunities Master L.P. Highbridge Asia Opportunities Master L.P. Highbridge GP Ltd. Highbridge GP Ltd. Clive Harries Richard Crawshaw 50% 50% Highbridge Asia Opportunities Master L.P. Highbridge GP Ltd. Clive Harries Richard Crawshaw153,513,513 Citigroup Global Markets Financial Products LLC 142,000,000Citigroup Global Markets Ltd 31,840,525 Citibank N.A. 21,391,900 Citigroup Global Markets Financial Products LLC Citigroup Global Markets Holdings GmbH Citigroup Global Markets Holdings GmbH Citigroup Global Markets (International) Finance AG Salomon Brothers Pacific Holding Company Inc. 75.7% 24.3% Citigroup Global Markets (International) Finance AG Salomon Brothers Pacific Holding Company Inc. Citigroup Financial Products Inc. Citigroup Financial Products Inc. Citigroup Global Markets Holdings Inc.Citigroup Inc.Citigroup Global Markets Holdings Inc. 100% 33 35

40 36

41

42 7 256, ,835 (42,992) (19,525) 213, , ,748 20,643 (15,921) (9,164) (68,570) (43,606) 10 (9,624) (16,740) , ,293 95, (23,411) (18,933) 126,882 76, (3,156) ,882 72, ,282 73,559 1,600 (597) 126,882 72, ,214 26,

43 17 326, , ,945 67, , , ,088 5, ,297 6, , , ,509 1, ,222 7, ,809 50, , , , , , , , ,714 34, ,209 11, ,229 70,500 16,783 11, , , , , , ,512 39

44 29 144, , , , , ,094 4,363 2, , , ,916 24, , , ,278 8, , , , ,

45 134, ,354 20,343 9,965 12,804 9, , ,249 8, ,170 28,470 28,470 28, , ,517 28,517 (3,502) (644) (4,146) (8,324) (12,470) 73,559 73,559 (597) 72,962 24,968 (644) 47 73,559 97,930 (8,921) 89,009 4,796 4,796 4,796 2,763 2,763 (26,881) (26,881) (26,881) 134, ,354 20,343 14,761 12,804 34, , ,094 2, ,857 44,585 44,585 44, , ,282 1, ,882 (47) (47) (47) 44,585 (47) 125, ,820 1, ,420 5,388 5,388 5,388 9, ,187 (14,749) 140, ,235 1,893 30,957 (5,118) 27,732 27,732 (2,499) 2,499 (1,191) (26,425) (27,616) (27,616) (56,214) (56,214) (56,214) 144, ,073 5,594 12,532 12,804 79, , ,439 4, ,802 (a) (b) 41

46 150,293 95, (1,219) 150,293 93,832 9,624 17,867 5,388 4,796 (5,217) (7,711) 167 6,261 5,542 3,343 1, ,073 (178) (2,608) (17,764) (12,067) 163, ,072 (6,762) 6,306 (35,262) (30,364) 19,991 2,307 (877) 93, ,492 (8,842) (7,592) (19,954) (8,122) 64, ,778 5,217 7,711 (86,714) (106,985) (16,427) (6,870) 10,000 (9,810) 29,683 24, , (57,516) (57,855) (137,702) 42

47 (56,214) (26,881) 27,732 (27,616) 93,520 80,125 (53,738) (99,539) (5,532) 5,013 (21,848) (41,282) (14,996) (69,206) 441, ,085 26,949 21, , , , , , , ,561 43

48

49

50 3 5 46

51 47

52 48

53 49

54 50

55 51

56 52

57 53

58 54

59 3 55

60 19 75,094,000 3,261,

61 75,619 43,624 10, , , , , ,185 25, , ,131 47,714 34,447 6,209 11, ,145 95,125 54, , , ,741 57

62 (i) 274,383 9,620 18, ,000 8,000 58

63 (ii) ,175,000866,000 46,469,000 33,400,000 59

64 4,147 1,877 41,690 47,714 47,714 63,475 63,475 54,761 1,634 69,506 88, , ,145 6,209 6,209 6,209 11,990 1, , , , , ,611 1,407 31,429 34,447 34,447 15,283 15,283 15,000 30,754 26,153 27,197 84,104 80,125 11,741 11,741 11, , , ,428 13,352 32,161 72, , , ,741 60

65 219, ,865 37,443 9, , , , , ,575 61

66 219,031 37, , , ,982 (19,387) 5,217 (10,073) (9,624) ,293 (23,411) 126, , , ,739 47,115 57, , ,713 1,101,692 27,786 21,467 49, , ,890 62

67 81,784 16, ,460 5,091 1, ,261 3,343 3,343 5,388 5, , ,865 9, ,835 14, , ,173 1, ,232 (738) 115,494 (14,752) (14,752) 7, ,711 (16,740) (489) (17,229) 2,608 2,608 95,051 (1,219) 93,832 (18,933) (18,933) 76,118 (1,219) 74,899 (1,937) (1,937) 76,118 (3,156) 72,962 63

68 297,035 64, ,261 47,115 57, , , ,202 18,641 26,140 44, , ,345 91,019 38, ,710 4, ,542 4,796 4, ,125 57,125 64

69 12, , , , ,835 14, , , , ,234 98, , , ,261 98, ,710 65

70 5,217 7, ,217 7,711 17,764 12,067 17,764 12,067 6,301 6,301 1, ,466 1,770 30,748 20, ,748 21,548 6,843 5, ,843 5,592 3,567 12,275 3,567 12,275 10,410 17, ,410 17,867 (786) (638) (786) (638) 9,624 16, ,624 17,229 1,610,4001,500,000 66

71 (671) (671) 25,735 19,604 25,735 19, (2,324) (2,324) 23,411 18,933 23,411 18, % 25% 33%25% 33% 67

72 150,293 95,051 33% 33% a 49,597 31,366 (2,357) (525) 10,527 9,230 (31,996) (20,593) (2,085) (671) (275) ,411 18,933 (a) (b) 44,307,000 44,307,000 (1,219) 34 (1,937) (3,156) (2,559) (597) (3,156) 68

73 14,740 (14,645) 905 (14) (1,716) (489) (1,219) (1,219) 28,759,090 8,00028,496,

74 6,261 5, ,261 5,542 3,343 3,343 1, , (a) 6,198 4,329 6,198 4,329 27,224 16, ,224 17,669 4,151 3,558 4,151 3, ,688 24, ,688 25,676 1,600 1, ,600 1,400 10,073 10,073 42,992 19,525 14,645 42,992 34,170 1,122 1,122 4,409 1,118 4,409 1,118 (28) 2,366 (28) 2,366 70

75 (i) 1,284 1, , ,325 2,704 (ii) ,685 3,064 71

76 (i) ,240 (ii) (iii) ,237 1,238 2,513 1,265 6,198 4,329 72

77 964 3, ,082 1,258 4,175 1,000, ,500,001 2,000, , ,090 26,881 56,214 26, ,258 26,

78 125,282 73,559 3, ,849 73,559 2,797,888,233 2,688,107,099 28,697, ,751,722 2,997,337,360 2,688,107,099 74

79 125,282 73, , ,282 76,118 2,559,

80 6,867 26,986 2,036 3,957 1, , , , ,607 5, , , , ,623 5,300 1, , ,250 16,897 (54) (10) (463) (418) (945) (12,881) (842) (13,723) 12,446 29,269 2,312 4,232 3, , , , ,336 18,283 20, , ,816 98, ,240 17,616 (181,856) (11) (11) (15,691) (1,023) (391) (60) (17,165) 177,276 53,375 2,024 7,158 3,318 1, , , ,737 1,478 1,997 1, , , ,542 (54) (154) (270) (478) (953) (689) (1,642) 1,163 10,603 1,843 2,157 1, , , , ,261 (7) (7) (4,019) (901) (271) (55) (5,246) 2,232 11,210 1,309 3,439 1, , ,044 42, ,719 1,543 1, , ,351 11,283 18, ,075 1, , ,512 76

81 2% 10% 30% 15% 50% 15% 33% 10% 33% 20% 33% 1,509 1,429 69,945 67,635 71,454 69,064 28,954,000 28,850,000 77

82 47,115 35) 57, , ,115 57, ,240 15% 10 2% 9.5% 78

83 5, (3,343) 2, ,088 5, HPVHPV DNA ,189 5% 79

84 8,761 5,173 3,439 1,284 2,022 1,003 14,222 7,460 78,355 45,584 (3,261) (1,960) 75,094 43, ,993 3,913 2,197 2,908 80,809 50, ,766 43, , ,094 43,624 80

85 1,960 1, ,122 3,261 1, ,383 9,620 81

86 6,215 3,137 3,833 2,925 17,022 18,961 13,299 2,339 5,076 4,454 2,269 2,631 47,714 34, ,014 1, , ,215 3,137 6,209 11,741 82

87 80,520 44,000 57,625 51, ,145 95,125 68,229 70,500 16,236 1,625 53,680 23, ,145 95,125 (68,229) (70,500) 69,916 24,625 15, ,145 80, ,145 95,125 15,000 15,

88 0.05 4,000,000, , ,688,096, ,405 10,869 2,688,107, , ,932,426 9,797 37,860,000 1,893 (23,810,000) (1,191) 2,898,089, ,904 6,620, ,685 5,910, ,944 5,810, ,757 5,470, ,230 23,810,000 27,616 84

89 200,000,000 1% 1% % 144,990,00010, % 193, ,153 (140,235) 3,567 12,275 (1,999) (2,000) 54, ,428 8,602 8,602 (2,085) (239) 6,278 85

90 , ,714 24,761 2,668 1,821 18, , ,695 1,313 1,530 73,134 50,915 3,205 8,000 8,000 54, , , , , , , , , , , ,822 86

91 150,354 20,343 9,965 12,804 (70,014) 123,452 4,796 4, (26,881) (26,881) 150,354 20,343 14,761 12,804 (96,845) 101, ,187 (14,749) 130,438 30,957 (5,118) 25,839 (2,499) 2,499 5,388 5, , ,723 (26,425) (26,425) (56,214) (56,214) 300,073 5,594 12,532 12,804 36, , ,120, ,400, % 4.96% 10% 1% 87

92 28 1 (i)(ii)(iii) 9,300,000 9,300, ,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300, ,600,000 1,600,000 1,600,000 1,600,000 1,600,000 1,600,000 46,500,000 4,800,000 51,300, ,100,000 (15,700,000) (1,200,000) 1,200,000 18,100,000 (13,500,000) (1,200,000) 3,400,000 16,900,000 (5,400,000) 11,500,000 16,900,000 16,900,000 16,900,000 16,900,000 7,060,000 (3,260,000) 3,800, ,060,000 7,060,000 7,060,000 7,060,000 86,900,000 21,180,000 (37,860,000) (2,400,000) 67,820, ,400,000 25,980,000 (37,860,000) (2,400,000) 119,120,000 49,400,000 88

93 ,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300,000 9,300,000 46,500,000 46,500,000 22,100,000 (4,000,000) 18,100, ,100,000 (4,000,000) 18,100,000 22,100,000 (5,200,000) 16,900,000 22,100,000 (5,200,000) 16,900,000 22,100,000 (5,200,000) 16,900, ,500,000 (23,600,000) 86,900, ,000,000 (23,600,000) 133,400,000 54,800, % 1 3 4% 2.61% 89

94 3 5,388,000 4,796, ,000 Hong Lan International Trading (Shanghai) LimitedHong Lan Hong Lan Hong Lan (18) 182 Hong Lan 90

95 4,200,000 51% 8,000,0007,692,000 80% , ,643 12,220 21, (162) (162) 9, ,663 14,028 23,691 (1,870) (1,870) (6,454) (8,324) 7, ,793 7,574 15,367 (91) (2,618) (2,709) (793) (3,502) (644) (644) (8) 2,616 2,608 (1,937) 671 7,692 7,692 4,200 11,892 11,892 11,892 (541) 11,

96 60,000,000 51% (i) (ii)hpv HPV DNA 20 57,125,000 14,237 2,660 16,897 12,653 16,197 28, ,090 (900) 5, ,484 2,484 19,229 19,229 (22,086) (22,086) (38,000) (38,000) (8,602) (8,602) (4,245) 9,883 5,638 (2,763) 2,875 57,125 60,000 60,000 60,000 (2,484) 57,516 92

97 1,235,000 94,505 90,222 1,600,000 2,360,000 3,369 2,709 2,441 3,898 5,810 6,607 93

98 151,000147,000 23,000 42, ,721 5,992 23,587 14,429 10, ,650 39, ,000 5,039 5, ,785 2,320 6,896 8,144 94

99 27 MY Technology Limited 1 100% HD Global Limited 100% 2,000, % a 40,000, % a 10,000, % a 29,800,000 51% c 15,000,000 51% b (a) (b) (c) 95

100 96

101 456, , , , ,474 39,294 72,023 72,124 95, ,293 (3,546) (4,771) (18,933) (23,411) 35,748 67,252 72,124 76, ,882 (2,089) (3,156) 35,748 67,252 70,035 72, ,882 26,881 56,214 33,693 67,020 70,096 73, ,282 2, (61) (597) 1,600 35,748 67,252 70,035 72, , , , , ,202 1,101,692 (118,475) (79,949) (280,011) (354,345) (269,890) 301, , , , , , , , , ,439 9,481 8,982 8,921 2,763 4, , , , , ,

102 The Mingyuan Network Mingyuan head office HONG KONG HEALTHDIGIT head office SHANGHAI representative office BEIJING SHANGHAI Factory C-12 - SHANGHAI FENGXIAN HUZHOU HPV - SHENZHEN C-12 product China distribution C-12 HARBIN URUMQI CHANGCHUN SHENYANG BEIJING TIANJIN SHIJIAZHUANG TAIYUAN ZHENGZHOU XIAN LUOYANG HANGZHOU JINAN HEFEI NANCHANG NANJING SHANGHAI SHENZHEN FUZHOU HAIKOU CHENGDU CHONGQING WUHAN CHANGSHA KUNMING HOHHOT C-12 product Overseas distribution C-12 MALAYSIA THAILAND SINGAPORE BRUNEI Mingyuan Medicare Development Company Limited Annual Report 2007

103 The Mingyuan Network Major Causes of Death in China 3 LEADING CAUSES OF DEATH IN CHINA WITH POPULATION AGED OVER The three leading causes of death (Heart Diseases, Cancer & Cerebrovascular Disease) accounted for 66.1% of deaths from all causes. Others include infectious diseases, respiratory diseases and diabetes etc. 33.9% other 22.5% Heart Diseases (ICD-9 codes and ) TOTAL : 4,459 (22.5%) MEN : 2,489 (22%) WOMAN : 2,017 (23.1%) 22.3% Cancer (ICD-9 codes ) TOTAL : 4,459 (22.3%) MEN : 2,833 (25%) WOMAN : 1,626 (18.6%) 21.3% Cerebrovascular Diseases (ICD-9 codes ) TOTAL : 4,260 (21.3%) MEN : 2,446 (21.6%) WOMAN : 1,814 (20.8%) * The causes of death were coded according to the International Classification of Diseases, Ninth Revision (ICD-9). Mortality for the Five Leading Causes of Death from Cancer WITH POPULATION AGED OVER 40 (MEN) : LUNG 25.9% OTHER 18% COLON & RECTUM 5.2% ESOPHAGUS 11.7% STOMACH 17.5% LIVER 21.7% Mortality for the Five Leading Causes of Death from Cancer with population aged over 40 (women) : LUNG 21.8% OTHER 20.1% STOMACH 14.9% Source : 'Major Causes of Death among Men and Women in China' dated 15 Sep 2005 from The New England Journal of Medicine BREAST 5.2% COLON & RECTUM 7.2% The New England Journal of Medicine Major Causes of Death among Men and Women in China UTERUS 8.4% LIVER 13.5% ESOPHAGUS 8.9%

2 6 10 14 20 36 38 40 46 49 50 54 60 95 96 2 3 4 5 34% 20% 1,235,272 816,833 819,725 1,272,256 52,109 1,185,700 42,639 6,933 1,301,452 (65,246) 2,272,515 1,308,949 854,445 1,270,605 1,298,842 (63,256)

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