2005

2005 ----------------------------------------------------------------------01 -------------------------------------------------03 ----------------------------------------------04 ----------------------------------------------------------------05 ----------------------------------------------------------------------------09 ----------------------------------------------------------------------------11 ----------------------------------------------------------------------------31 1 HAINAN HUANDAO INDUSTRY CO.,LTD. 2 1

*ST 000691 3 25 570208 hdsy@hq.cninfo.net 4 : 5 25 0898-66255909 0898-66254684 hdsy@hq.cninfo.net 6 http://www.cninfo.com.cn/ 1 336,833,527.43 216,750,855.94 55.40 434,251,097.85 298,335,433.15 45.56 870,550,485.26 756,136,813.52 15.13 417,854,249.82 437,407,256.02-4.47 1.6185 1.6942-4.47 1.6182 1.6947-4.51 1 6-19,553,006.20-18,022,628.37-8.49-19,636,242,.51-18,049,270.57-8.79-0.0757-0.0698-8.50-4.68% -3.81% 0.87-4,380,820.35 15,188,661.85-128.84 2

2 83,236.31 83,236.31 83,236.31 3 9 % % -8,564,373.68-2.05-1.33-0.0332-0.0332-25,738,598.99-6.16-3.98-0.0998-0.0998-19,553,006.20-4.68-3.03-0.0758-0.0758-19,636,242.51-4.70-3.04-0.0761-0.0761 : 1 5 7094.72 27.48% 7094.72 2 42,634 0 70,947,200 27.48 70,947,200 0 10,352,000 4.01 0 0 10,352,000 4.01 0 3

( ) 0 8,000,000 3.10 0 0 7,870,000 3.05 0 0 5,308,800 2.06 0 0 2,560,000 0.99 0 0 1,920,000 0.74 0 0 1,680,000 0.65 0 0 1,280,000 0.50 0 A B H 980,000 A 850,000 A 809,700 A 600,000 A 461,300 A 460,000 A 450,700 A 442,200 A 439,700 A 430,000 A 4

1 2005 4 2 2005 2005 4 4 2 2005 6 9 2005 2005 6 11 3 2005 6 28 2004 2005 6 29 1 % 107,437,373.60 30,419,448.24 253.19-8,564,373.68-8,960,462.08 4.42-19,553,006.20-18,022,628.37-8.49 1, 9,849.36 224% 894.36 2 183 20 9 8.5-550.83 38.53 5

-305.60 4.42 8.49 2 % 870,550,485.26 756,136,813.52 15.13 417,854,249.82 437,407,256.02-4.47 15.13 4.47 1, 10743.74-856.44-2149.72-1955.30 2 1 (%) (%) 98,493,754.11 99,416,451.95-0.94 223.79 161.95 23.83 8,943,619.49 11,999,610.58-34.17 - - - 0.00 0.00 6

(%) (%) 98,493,754.11 99,416,451.95-0.94 223.79 161.95 23.83 8,943,619.49 11,999,610.58-34.17 - - - 2 68,726,249.40 125.93 25,572,105.89-11,790,722.16-1,348,296.15-107,437,373.60-3 1 2-0.94% 23.83 18.62, -34.17%, 47.76 3 : 2005 1 6 2004 1 12 7

(%) (%) -8,564,373.68 39.84-19,022,748.70 32.18 118,562.65-0.55 114,382.93-0.19 17,292,787.96 80.44 36,613,913.09 61.94 4,034,502.34-18.77 6,167,399.53-10.43 206,853.69-0.96-9,755,911.34 16.50-21,497,242.96 100-59,110,790.67 100 4 5 430,003.76-1,075,009.41 2,189,248.58-5,916,888.05 6 8

1 2 2004 2005 6 28 2004 1 2 1 2 3 9

2003 47,740,570.26 310,660.14 47,429,910.12 4 1 2003 1, 2003 1 2007 12 31, 332 345 172.5 2 1 0 0 0 10160 10160 24.31% 50 0 70 0 50 0 0 2 [2003]56 10

50% 91.372 10160 24.31 [2003]56 3 5% 5% 1 1997 1 3100 25,818 2001 5 21 7,094.72 11

27.48% 3.10% 2002 4 15 4600001000737 25 2 2.1 2.2 1 1 12 31 2.3 2.4 2.5 2.6 3 2.7 (1) 2 12

2.8 2.8.1 1 2 2.8.2, 1 1 1 2 5 2 3 10 3 100 2.9 1 2 2.10 1 20% 20% 20% 20% 50% 13

10 10 2 3 2.11 1 2000 2 2 3 % ( ) (%) 4 10-40 2.4-9.6 4 5-9 10.70-19.20 14

4 5-15 6.40-19.20 4 5-8 12.00-19.20 4 5-8 12.00-19.20 3 2.12 1 2 3 2.13 3 2.14 1 2 15

2.15 2.16 1 A B C D 2 A B 3 2.17 16

2.18 50% 3 4% 17% 5% 7% 3% 15% 33% 4 4.1 ( ) % 16,230.00 14566.90 89.75 4.2 23,179.00 21,179.00 91.372 5 17

5.1 374,193.90 374,193.90 401,656.36 401,656.36 42,702,501.60 42,702,501.60 10,168,696.86 10,168,696.86 43,076,695.50 43,076,695.50 10,570,353.22 10,570,353.22 5.2 466,870.00 57,000.00 719.07% 5.3 740,250.00 675,000.00 1,415,250.00 5.4 (1) (%) (%) 8,247,541.91 82.51 75,419.03 7,541,903.14 85.72 75,419.03 1,305,548.96 13.06 62,821.04 1,256,420.67 14.28 62,821.04 442,691.72 4.43 9,995,782.59 100.00 138,240.07 8,798,323.81 100.00 138,240.07 (2) 3,186,907.36 32.33% (3) 5%( 5%) 18

(4) 5.5 (1) (%) (%) 122,815,604.87 54.00 326,170.93 32,617,092.78 23.68 326,170.93 101,467,308.10 44.71 5,152,242.33 102,458,788.99 74.36 5,122,939.45 2,670,000.00 1.18 267,000.00 2,670,000.00 1.94 267,000.00 29,302.88 0.02 29,302.88 226,952,912.97 100.00 5,745,413.26 137,775,184.65 100.00 5,745,413.26 (2) 150,185,074.82 66.17% (3) 5%( 5%) 47,429,910.12 (4), 5.6 (%) (%) 9,885,691.36 93.95 8,517,304.26 98.42 636,310.50 6.05 137,131.44 1.58 10,522,001.86 100.00 8,654,435.70 100.00 1 5%( 5%) 2 5.7 9,183,111.21 8,143,959.38 457,944.20 470,855.30 12,086,006.68 2,532,623.65 19,569,272.76 2,532,623.65 31,013,546.28 31,013,546.28 9,103.61 8,313.61 52,749,711.98 2,532,623.65 59,205,947.33 2,532,623.65 5.8 19

19,538,574.11 12,600.00 2,614,502.34 22,153,076.45 12,600.00 125,800,000.00 125,800,000.00 145,338,574.11 12,600.00 147,953,076.45 12,600.00 (1) (%) 4,000,000.00 40 430 003.76 5 012 737.99 9 012 737.99 9,250,000.00 37 2 189 248.58 2 420 549.90 11 670 549.90 12,600.00 12,600.00 12,600.00 450,000.00 80.78-450,000.00 0.00 900,000.00 80.78-238 061.44 661 938.56 14,612,600.00 2 619 252.34 6 745 226.45 21 357 826.45 12,600.00 (2) % 60,000,000.00 2.25% 2007 675,000.00 675,000.00 65,800,000.00 2.25% 2007 740,250.00 740,250.00 125,800,000.00 1,415,250.00 1,415,250.00 5.9 (1) 99,693,749.91 99,693,79.91 1,890,487.96 143,088.12 2,033,576.08 189,967,470.44 197,920.00 190,165,390.44 630,998.00 133,259.00 764,257.00 292,182,706.31 474,267.12 292,656,973.43 (2) 11,828,091.40 1,800,717.16 13,628,808.56 20

259,807.78 67,051.36 326,859.14 61,497,553.32 6,912,083.37 68,409,636.69 124,732.11 53,268.92 178,001.03 73,710,184.61 8,833,120.81 82,543,305.42 (3) 218,472,521.70 210,113,668.01 6,609,445.35 6,609,445.35 (4) 211,863,076.35 203,504,222.66 :5 / DDGS 110019471 5.10 464,497.93 464,497.93 772,820.77 772,820.77 GMP 1,221,356.18 886,771.75 2,108,127..93 1,221,356.18 2,124,090.45 3,345,446.63 5.11 236,750,121.50 225,891,408.63 1,743,669.04 11,130,972.67 224,147,739.59 46-50 45,321,770.39 45,321,770.39 47,200.00 46,413.33 57,047.01 1,830.78 2,617.45 100,842.89 236,797,321.50 180,616,051.57 57,047.01 1,746,286.49 178,926,812.09 : 2002 058 ; (2003 ) 032 (2003 ) 044 5.12 21

84,800,000.00 34,800,000.00 40,000,000.00 40,000,000.00 66,800,000.00 72,000,000.00 95,203,646.00 95,203,646.00 286,803,646.00 242,003,646.00 : 1 ( 7.5.2) 2 3 5.13 3,5000,000.00 3,5000,000.00 5.14 36,295,688.03 5%( 5%) 5.15 87,555.25-235,851.58 746,984.89 522,601.09 418,250.00 332,000.00 42,059.21 118,577.80 95,763.83 2,245,371.43 2,245,371.43 262,487.06 262,487.06 3,879,226.43 3,264,431.04 18.83% 5.16 22

55,183,926.64 5%( 5%) 5.17 13,005,636.15 9,142,620.37 271,802.40 13,277,438.55 9,142,620.37 5.18 + - 1 104,960,000.00 104,960,000.00 8,000,000.00 8,000,000.00 96,960,000.00 96,960,000.00 2 23,040,000.00 23,040,000.00 3 4 128,000,000.00 128,000,000.00 1 130,180,000.00 130,180,000.00 2 3 4 130,180,000.00 130,180,000.00 258,180,000.00 258,180,000.00 5.19 204,153,311.10 204,153,311.10 7,169,063.48 7,169,063.48 6,782,613.54 6,782,613.54 23

218,104,988.12 218,104,988.12 5.20 15,216,301.45 15,216,301.45 15,216,301.45 15,216,301.45 5.21-19,553,006.20-54,155,950.79-54,094,033.55-27002,010.31 27,063,927.55-73,647,039.75-54,094,033.55 5.22 ( ) 98,493,754.11 30,419,448.24 99,416,451.95 37,951,970.38 8,943,619.49 11,999,610.58 107,437,373.60 30,419,448.24 111,416,062.53 37,951,970.38 25,572,105.89 26,282,706.41 68,726,249.40 30,419,448.24 71,317,294.39 37,951,970.38 24

11,790,722.16 12,007,059.37 1,348,296.15 1,809,002.36 107,437,373.60 111,416,062.53 5.23 4,067,480.02 1,153,876.48 362,743.32 191,844.43 155,461.41 82,219.03 4,585,684.75 1,427,939.94 5.24 1,725,000.00 1,606,437.35 1,660,000.00 1,606,292.72 1,725,000.00 1,606,437.35 1,660,000.00 1,606,292.72 5.25 8,283,708.53 6,867,625.68 945,925.90 8,784.73 37,250.70 3,038.87 7,300,531.93 6,867,625.68 6.30% 5.26 25

2,619,252.34 1,328,286.82 1,415,250.00 1,473,120.00 4,034,502.34 2,801,406.82 44.02 5.27 35,661.63 39,164.94 6,729.00 719.00 192,941.20 239,631.83 39,883.94 5.28 32,778.14 13,241.74 32,778.14 13,241.74 5.29 45,484,001.06 27,200,000.00 5,800,000.00 3,000,000.00 3000,000.00 1,200,000.00 5,284,001.06 5.30 68,354,803.05 26

18,980,000.00 15,685,674.46 17,477,485.14 3,302,600.00 5,740,617.21 2,051,176.30 6 6.1 (1) (%) (%) 1 162 994.33 100.00 58 149.72 1 151 364.39 100.00 46 519.78 1 151 364.39 100.00 46 519.78 1 162 994.33 100.00 58 149.72 (2) 1 151 364.39 100% (3) (%) 1,151,364.39 100 1,151,364.39 100 (4) 5%( 5%) 6.2 (1) (%) (%) 16 378 925.02 17.09 157 511.61 15 751 161.60 16.66 157 511.61 79 049 987.87 82.48 3 901 116.70 78 405 893.90 82.92 3 920 294.70 27

384 718.99 0.4 37 000.00 370 000.00 0.39 37 000.00 29 302.88 0.03 29 302.88 29 302.88 0.03 29 302.88 95 842 934.76 100.00 4 124 931.19 94 556 358.38 100.00 4 144 109.19 (2) 85,792,411.12 89.51% 6.3 206,601,463.15 12,600.00 2,619,252.34 18,823,514.52 190,397,200.97 12,600.00 125,800,000.00 125,800,000.00 332,388,863.15 12,600.00 2,619,252.34 18,823,514.52 316,197,200.97 12,600.00 (1) (%) 4,000,000.00 40 430 003.76 5 012 737.99 9 012 737.99 9,250,000.00 37 2 189 248.58 2 420 549.90 11 670 549.90 211,790,000.00 91.372-10 391 044.07-164 745 047.68 47 044 952.32 145,664,250.00 89.75-8 432 470.45-23 007 889.24 122 656 360.76 12,600.00 12,600.00 12,600.00 370,716,850.00-16 204 262.18-180 319 649.03 190 397 200.97 (2) % 60,000,000.00 2.25 2007 675,000.00 675,000.00 65,800,000.00 2.25 2007 740,250.00 740,250.00 125,800,000.00 1,415,250.00 1,415,250.00 6.4-16,204,262.18-14,259,459.88 1,415,250.00 1,473,120.00 28

-14,789,012.18-12,786,339.88 15.66% 7 7.1 7.2 5,000.00 5,000.00 23,179.00 23,179.00 16,230.00 16,230.00 7.3 (%) (%) (%) (%) 70,947,200.00 27.48 70,947,200.00 27.48 211,791,158.80 91.372 211,791,158.80 91.372 145,664,250.00 89.75 145,664,250.00 89.75 7.4 ( ) 7.5 7.5.1 675,000.00 740,250.00 29

2.25%( ) 7.5.2 2005 6 6 44,800,000.00 ( 2005 6 30 2006 6 11 ) 7.5.3 2004 4 26 15,000,000.00 ( 2005 4 30 2006 4 29 ) 7.6 (1) 675,000.00 740,250.00 1,415,250.00 (2) 47,740,570.26 47,429,910.12 47,740,570.26 47,429,910.12 8 9 10 11 11.1 2003 1 8 2003 1 2007 12 31 3,320,000.00 3,450,000.00 11.5 7,094.72 30

31

01 : 2005 6 30 : : 5.1 43,076,695.50 69,045.58 10,570,353.22 7,273,409.51 5.2 466,870.00 57,000.00 5.3 1,415,250.00 1,415,250.00 5.4 9,857,542.52 1,104,844.61 8,660,083.74 1,104,844.61 5.5 221,207,499.71 91,718,003.57 132,029,771.39 90,412,249.19 5.6 10,522,001.86 8,654,435.70 5.7 50,217,088.33 31,013,546.28 56,673,323.68 31,013,546.28 70,579.51 3,432.00 105,888.21 3,619.20 336,833,527.43 125,324,122.04 216,750,855.94 129,807,668.79 : 5.8 22,140,476.45 190,384,600.97 19,525,974.11 206,588,863.15 5.8 125,800,000.00 125,800,000.00 125,800,000.00 125,800,000.00 147,940,476.45 316,184,600.97 145,325,974.11 332,388,863.15 : 5.9 292,656,973.43 1,620,346.00 292,182,706.31 1,620,346.00 : 5.9 82,543,305.42 976,189.44 73,710,184.61 780,446.26 210,113,668.01 644,156.56 218,472,521.70 839,899.74 6,609,445.35 6,609,445.35 203,504,222.66 644,156.56 211,863,076.35 839,899.74 359,499.37 5.10 3,345,446.63 1,221,356.18 206,849,669.29 644,156.66 213,443,931.90 839,899.74 : 5.11 178,926,812.09 122,524,904.36 180,616,051.57 123,871,331.88 178,926,812.09 122,524,904.36 180,616,051.57 123,871,331.88 : 870,550,485.26 564,677,783.93 756,136,813.52 586,907,763.56 : 32

01 : 2005 6 30 : : 5.12 286,803,646.00 95,203,646.00 242,003,646.00 95,203,646.00 5.13 35,000,000.00 5.14 36,295,688.03 26,279,085.69 68,347.18 2,791,713.82 1,695,344.80 855,885.98 179,067.60 677,906.38 189,491.64 5.15 3,879,226.43 3,260,145.72 3,264,431.04 3,167,858.22 163,572.40 112,543.65 151,398.32 109,956.15 5.16 55,183,926.64 36,755,289.01 15,121,000.55 43,047,064.04 5.17 13,277,438.55 12,372,495.47 9,142,620.37 8,773,797.65 434,251,097.85 147,883,187.45 298,335,433.15 150,560,160.88 : : 434,251,097.85 147,883,187.45 298,335,433.15 150,560,160.88 18,445,137.59 20,394,124.35 : 5.18 258,180,000.00 258,180,000.00 258,180,000.00 258,180,000.00 258,180,000.00 258,180,000.00 258,180,000.00 258,180,000.00 5.19 218,104,988.12 218,104,988.12 218,104,988.12 218,104,988.12 5.20 15,216,301.45 15,216,301.45 15,216,301.45 15,216,301.45 : 15,216,301.45 15,216,301.45 15,216,301.45 15,216,301.45 5.21-73,647,039.75-74,706,693.09-54,094,033.55-55,153,686.89 417,854,249.82 416,794,596.48 437,407,256.02 436,347,602.68 870,550,485.26 564,677,783.93 756,136,813.52 586,907,763.56 : 33

02 2005 1 6 : 5.22 107,437,373.60 30,419,448.24 5.22 111,416,062.53 37,951,970.38 5.23 4,585,684.75 1,427,939.94 - -8,564,373.68-8,960,462.08-5.24 118,562.65 115,135.28 53,707.28 53,707.28 2,051,176.30 801,515.03 7,940,918.73 1,281,150.53 5,752,434.65 1,691,137.32 5.25 7,300,692.93 3,597,978.77 6,861,879.82 3,598,758.45 - -25,738,598.99-4,763,994.02-22,322,584.30-5,236,188.49-5.26 4,034,502.34-14,789,012.18 2,801,406.82-12,786,339.88 5.27 239,631.83 39,883.94 5.28 32,778.14 13,241.74 100.00 - -21,497,242.96-19,553,006.20-19,494,535.28-18,022,628.37-1,944,236.76-1,471,906.91 - -19,553,006.20-19,553,006.20-18,022,628.37-18,022,628.37-54,094,033.55-55,153,686.89-27,002,010.31-27,063,927.55 27,063,927.55 27,063,927.55-73,647,039.75-74,706,693.09-17,960,711.13-18,022,628.37-73,647,039.75-74,706,693.09-17,960,711.13-18,022,628.37-73,647,039.75-74,706,693.09-17,960,711.13-18,022,628.37 1 2 3 4 5 6 : 34

03 2005 1 6 120,857,744.71 5.29 45,484,001.06 743,930.98 166,341,745.77 743,930.98 92,631,566.94 3,503,689.16 207,848.44 6,232,506.97 5.30 68,354,803.05 7,740,446.47 170,722,566.12 7,948,294.91-4,380,820.35-7,204,363.93 8,440,074.61 8,440,074.61-8,440,074.61 97,000,000.00 97,000,000.00 47,205,528.87 4,467,233.89 51,672,762.76 45,327,237.24 32,506,342.28-7,204,363.93 : 35

03 2005 1 6 1-19,553,006.20-19,553,006.20-1,944,236.76 9,873,223.14 195,743.18 1,724,192.47 1,346,427.52 2,041,734.82-1,474,918.27 187.20 536,120.36 7,620,370.25 3,598,697.82-4,034,502.34 14,789,012.18 9,006,315.27-84,807,586.24-4,341,540.61 76,547,260.76-3,239,885.02 84,212.39-4,380,820,.35-7,204,363.93 2 3 43,076,695.50 69,045.58 10,570,353.22 7,273,409.51 32,506,342.28-7,204,363.93 : 36

2005 1 6 5,883,653.33 5,883,653.33 138,240.07 138,240.07 5,745,413.26 5,745,413.26 2,532,623.65 2,532,623.65 2,532,623.65 2,532,623.65 12,600.00 12,600.00 12,600.00 12,600.00 6,609,445.35 6,609,445.35 1,796,619.55 1,796,619.55 4,812,825.80 4,812,825.80 45,321,770.39 45,321,770.39 45,321,770.39 45,321,770.39 : 37

2005 1 6 1 2 258,180,000.00 258,180,000.00 3 4 5 6 7 8 9 258,180,000.00 258,180,000.00 10 11 218,104,988.12 221,458,257.38 12 13 14 15 16 17 18 19 20 3,353,269,.26 21 22 218,104,988.12 218,104,988.12 23 24 23,710,658.29 25 26 27 28 29 30 31 32 23,710,658.29 33 34 35 36 37 0.00 38 39 40 41 42 15,216,301.45 15,216,301.45 43 44 45 46 47 15,216,301.45 15,216,301.45 48 49-54,094,033.55-27,002,010.31-50 -19,553,006.20-54,155,950.79 51 52 53 27,063,927.55-54 -73,647,039.75-54,094,033.55 : 38