2004 2,,

2004 2,, 2 2 3 3 4 6 6 9 9 12 12 13 13 15 15 20 21 22 22 24 24 50 50 50

2004 CHONGQING TITANIUM INDUSTRY CO.LTD OF PANGANG GROUP 51 023 62551930 023 62551279 51 400055 http//www.pyty.cn xyp@pyty.cn http//www.cninfo.com.cn 000515 2004 9 24 51 5000001805345 500113621901522 74 3

2004 ( ) 28,456,226.14 31,054,853.56 25,461,147.05 59,985,567.67 484,551.46 22,349,402.10 5,800,000.00 306,824.04 13,715,533.55 18,430,666.39 ( ) 1 306,824.04 2 5,800,000.00 3 265,580.68 4 137 325.40 6,509,730.12-916,023.61 5,593,706.51 4

2004 ( ) 1 2004 2003 2002 % 290,882,219.43 259,806,614.92 11.96 236,246,342.28 28,456,226.14 26,817,084.10 6.11 25,359,818.99 31,054,853.56 22,775,659.37 36.35 21,555,846.14 25,461,147.05 15,730,598.65 61.86 9,410,544.73 2004 12 31 2003 12 31 2002 12 31 % 717,577,622.75 611,927,701.30 17.27 641,536,522.95 345,275,343.98 314,220,490.42 9.88 211,397,939.38 13,715,533.55 65,039,945.83-78.91 53,685,741.32 2 2004 2003 2002 0.17 0.12 41.67% 0.14 % 8.99 7.25 1.74 10.20 7.72 5.61 2.11 4.87 (%) 0.07 0.35-80% 0.34 2004 12 31 2003 12 31 2002 12 31 % 1.84 1.68 9.52 1.36 1.82 1.66 9.64 1.27 5

2004 ( [ 9 ] % 17.37 18.19 0.32 0.32 6.47 6.78 0.12 0.12 8.99 9.42 0.17 0.17 7.37 7.72 0.14 0.14 187,207,488 104,032,468.49 4,910,248.82 2,455,124.41 15,615,160.70 314,220,490.42 3,105,485.36 1,552,742.68 31,054,853.56 35,713,081.60 4,658,228.04 4,658,228.04 187,207,488 104,032,468.49 8,015,734.18 4,007,867.09 42,011,786.22 345,275,343.98 1 2 + 1 107373888 107373888 60573888-9000000 -9000000 51573888 46800000 +9000000 +9000000 55800000 6

2004 2 3 4 107373888 107373888 1 79833600 79833600 2 3 4 79833600 79833600 187207488 187207488 1 2, 900 5157.3888 27.56% 5580 29.80% 2004 1 12 2 3 2 28 3 6 5 20 7 22 3 15018 +9000000 55800000 29.80-9000000 51573888 27.56 7

2004 +2591931 2591931 1.38-304037 960000 0.51 +857800 857800 0.46 +844799 844799 0.45 +793900 793900 0.42 +740000 740000 0.40 +715700 715700 0.38 +670080 670080 0.36 2591931 A 960000 A 857800 A 844799 A 793900 A 740000 A 715700 A 670080 A 662700 A 590000 A 10% 1 33.1107 8

2004 2 100 3 5580 5157.3888 29.80% 27.56% 62 2002.3-2005.3 0 0 0 60 2002.11-2005.3 0 0 0 60 2002.11-2005.3 0 0 0 43 2002.11-2005.3 0 0 0 9

2004 45 2002.3-2005.3 0 0 0 53 2002.3-2005.3 0 0 0 54 2004.9-2005.3 0 0 0 50 2002.3-2005.3 0 0 0 50 2002.3-2005.3 0 0 0 48 2003.5-2005.3 0 0 0 54 2002.3-2005.3 0 0 0 59 2002.11-2005.3 0 0 0 58 2003.5-2005.3 0 0 0 38 2002.3-2005.3 0 0 0 58 2002.3-2005.3 0 0 0 47 2002.3-2005.3 0 0 0 50 2002.3-2005.3 0 0 0 38 2002.11-2005.3 0 0 0 41 2002.3-2005.3 0 0 0 48 2002.3-2005.3 0 0 0 1992 1990 1992 2001 1999 2000 2000 10

2004 11

2004 64.8 12 (, ) 24 2 / 10 1 5 10 7 5 1 1 2 1291 900 23 112 15 136 105 264 494 485 12

2004 2004 6 6 0 0 6 6 0 0 6 6 0 0 1 2 3 4 5 ( ) 2004 1 2003 13

2004 1 2004 5 25 00 2004 6 25 00 3 108423968 57.92% 2 2003 2003 2003 2003 2003 2004 6 26 2 1 2004 8 14 00 2003 9 18 00 2 107373888 57.36% 2 2004 9 21 3 14

2004 2004 8 12 2004 9 18 2004 1 2 2004 59,985,567.67 31,054,853.56 36.35% 1 1 ( ) 2004 (% ) 286,261,118.08 223,643,327.16 21.87 12.64 17.93-13.83 4,131,228.43 3,405,383.75 17.57-15.73-25.32 151.72 59,818.38 27,595.30 53.85-92.08-94.48 59.47 430,054.54 402,681.08 6.37 290,882,219.43 227,478,987.29 21.80 11.96 16.84-13.01 ( ) (%) 9,994,962.26-1.73 15

2004 42,972,614.34-21.92 138,040,973.45 79.02 76,596,055.50-19.84 23,277,613.88 6.11 290,882,219.43 11.96 2 10% % 286,261,118.08 223,643,327.16 21.87 2 ( ) 90,273,415.35 (%) 53.36 129,412,416.24 (%) 44.49 3 1 2 10,132.63 19,420.08 2004 2005 ( ) 1 71,757.76 61,192.77 10,564.99 7,401.44 2,731.19 16

2004 2,570.07 2,553.11 2 34,527.53 31,422.04 3,105.49 3,105.49 3 5,998.56 6,129.89 131.33, 4 3,105.49 2,277.57 827.92, 5 1,843.07 6,370.73 8,213.80 1 (1) 2004 2 26 10 9 2003 2003 2003 2003 2003 2003 (2) 2004 4 13 2004 (3) 2004 5 24 2003 (4) 2004 8 12 10 9 17

2004 2004 2004 2004 2004 (5) 2004 9 18 (6) 2004 10 18 2004 2 2004 9 18 2004 2004 9 24 2004 10 13 2004 2004 28,456,226.14 31,054,853.56 10% 3,105,485.36 5% 1,552,742.68 15,615,160.70, 42,011,786.22 187,207,488 10 1.00 18,720,748.80 18

2004 1 2 [2003]56, [2005]19 2004 [2005]178 [2003]56 2004 2004 12 31 868,790.76 36,886,454.00 36,443,765.31 1,311,479.45 826,984.53 133,018,636.32 133,321,706.54 523,914.31 165,116.56 4,813,590.09 4,637,097.76-11,375.77 1 2004 2004 136 19

2004 2 2004 13,302 8,000 5,300 2 13,332 10,000 374 100 2,858 2004 36,443,765.31 133,321,706.54 4,637,097.76 O [2003]56 2004 12 31, [2003]56 2005 4 18 1 20

2004 1 2004 2 26,, 2003 2003 2003 2003 2003 2003 2 2004 8 12 ( ),, 2004 2004 2004 1 2004 2 2004 3 4 5 2004 21

2004 ( ) 2004 12 31 238.7 1997 2004 318 134.0 ( ), 104.7 ( ) 2005 3 4 1 2 2004 2005 % 3,142.74 18.58 7,000 2005 7,000 22

2004 2004 2004 8,000.00 10,000.00 ( ) 13,000 1,300 2004 12 31 1,100 200 2004 ( ) 244.22 68.10 271.98 221.35 115.54 289.45 387.52 2004 740 3 ( ) (%) 23

2004 523,914.31 826,984.53 0.97 2.77 1,311,479.45 868,790.76 31.20 23.64 2,000,000.00 100.00 200,000.00 0.51-11,375.77 165,116.56-0.02 0.42 30,749,816.37 38,149,816.37 100.00 100.00 1 2 3 5% 31.39 ( ) [2005]178 2004 12 31 2004 24

2004 25 2004 12 31 2004 1 ( ) 1990 9 1992 5 (92)31 1993 7 1999 3,728.26 2000 7,456.52 57.36% 2001 9 10 2 2002 10 [2002]560 ( ) 3,900 2003 6 16 2002 2002 156,006,240 10 2 187,207,488 60,573,888 ( 32.36%) ( ) 46,800,000 ( 25.00%) 79,833,600 (

2004 26 42.64%) 2004 7 [2004]53 ( ) 900 ( ) 55,800,000 ( 29.81%) 51,573,888 ( 27.55%) 79,833,600 ( 42.64%) 2004 9 51 2 1 2 1 1 12 31 3 4 5 6 7 1 1

2004 10% 8 ( ) 1 5 1-2 10 2-3 30 3-4 50 4-5 80 5 100 % 9 27

2004 28 10 1 1 20% 20% 20% 20% 20% 20% 10 2003 3 17 2003 3 17 ( ) a

2004 b c d 1 1 11 12 29

2004 2000 ( ) (%) (%) 40 2.375 5 10 9.70 3 12 8.08 3 10 9.70 3 (13) (14) a. 30

2004 31 b. c. 3 (15) 10 50 50 50 50 (16) (17)

2004 (18) (19) (20) 32

2004 50% 50% 50% 10% 10% 3 % 17 7 15 [2002]147 3 5 4 5 ( ) (1) 82,406.97 26,891.31 54,694,618.25 29,829,467.52 475,979.04 8.2765 3,939,440.52 660,766.22 8.2767 5,468,963.77 780,000.00 55,557,025.22 29,856,358.83 6,670,000.00 33

2004 a. 780,000.00 b. 600,000.00 2 7,870,105.85 6,776,034.37 7,870,105.85 6,776,034.37 5% 5% 3 a. (%) 146,479,395.15 90.04 2,323,969.76 20,413,183.96 84.73 1,020,659.20 1-2 1,811,624.79 3.51 181,162.48 2,142,645.08 8.89 214,264.51 2-3 1,884,353.14 3.65 565,305.94 127,228.64 0.53 38,168.59 3-4 95,751.50 0.19 47,875.75 339,222.50 1.41 169,611.25 4-5 339,222.50 0.66 271,378.00 549,721.40 2.28 439,777.12 5 1,008,758.06 1.95 1,008,758.06 519,325.12 2.16 519,325.12 51,619,105.14 100.00 4,398,449.99 24,091,326.70 100.00 2,401,805.79 b. 23,768,327.98 46.05% c. 5% 5% a. 1 2,444,205.31 46.58 122,210.27 3,555,117.01 54.34 177,755.85 1-2 18,105.07 0.34 1,810.51 20,000.00 0.31 2,000.00 34

2004 2-3 20,000.00 0.38 6,000.00 80,000.00 1.22 24,000.00 3-4 57,142.32 0.87 28,571.16 4-5 53,539.32 1.02 42,831.46 201,787.41 3.08 161,429.93 5 2,711,946.05 51.68 1,518,535.97 2,628,366.75 40.18 1,434,956.67 5,247,795.75 100.0 1,691,388.21 6,542,413.49 100.001,828,713.61 b. 4,523,123.51 86.19% c. 2,386,820.17 1 1,142,839.75 d. 5% 5% 4 (%) (%) 13,905,539.50 92.92 3,674,559.58 100.00 1 2 297,420.73 7.08 4,202,960.23 100.00 3,674,559.58 100.00 5% 5% 5 37,470,658.97 912,580.34 24,119,206.86 1,178,161.02 877,352.03 388,410.76 1,816,462.29 749,805.41 8,656,897.44 2,683,128.18 12,998,032.73 10,209,504.47 61,819,403.46 912,580.34 38,150,055.68 1,178,161.02 35

2004 1,178,161.02 265,580.68 912,580.34 1,178,161.02 265,580.68 912,580.34 6 600,000.00 600,000.00 4,250,000.00 4,250,000.00 4,250,000.00 4,250,000.00 4,850,000.00 4,250,000.00 4,850,000.00 4,250,000.00 % 40 60 (%) 16.67 4,250,000.00 4,250,000.00 4,250,000.00 4,250,000.00 4,250,000.00 7 36

2004 187,279,687.59 17,926,625.15 11,261,769.31 193,944,543.43 460,146,465.54 85,891,345.86 145,402,193.2 400,635,618.17 5,219,161.11 99,998.46 150,892.88 5,168,266.69 2,390,465.72 203,713.00 13,500.00 2,580,678.72 137,262,028.18 137,262,028.18 792,297,808.14 104,121,682.47 156,828,355.4 739,591,135.19 26,533,390.33 4,523,996.22 1,740,914.16 29,316,472.39 253,126,116.77 41,212,398.94 89,071,414.52 205,267,101.19 2,352,264.40 370,977.65 116,136.58 2,607,105.47 728,484.20 224,292.34 5,238.12 947,538.42 76,356,677.07 7,680,027.06 84,036,704.13 359,096,932.77 54,011,692.21 90,933,703.38 322,174,921.60 52,023,541.27 52,023,541.27 71,966.06 71,966.06 52,095,507.33 52,095,507.33 78,065,265.86 17,246,625.15 60,670,134.71 148,506.00 29,521,166.22 25,149,215.20 206,477,057.94 101,323,377.75 6,200 46,161,220.53 10,413,805.71 35,747,414.82 35,747,414.82 37

2004 91,100,807.65 73,622,898.42 17,477,909.23 71,966.06 17,405,943.17 137,262,028.18 84,036,704.13 53,225,324.05 71,966.06 53,153,357.99 8 ( ) (%) 17,461 95.58 92,874,428.28 101,326,341.61 27,311,880.85 166,888,889.04 43,681,899.03 43,575,511.03 106,388.00 ERP 147,269.80 147,269.80 1,050,043.33 1,050,043.33 64,750.00 116,857.89 181,607.89 6,078,030.40 5,946,222.76 131,807.64 92,939,178.28 152,400,442.06 78,065,265.86 238,195.64 167,036,158.84 1 [ 10 2 ] 2 40,548,367.99 3,133,531.04 3,060,210.00 4.975% 9 5,477,194.12 29,972.66 140,440.92 5,306,780.54 5,477,194.12 29,972.66 140,440.92 5,306,780.54 11,123,174.19 29,972.66 5,786,420.99 38 11,123,174.19 29,972.66 5,786,420.99 38

2004 10 62,000,000.00 127,500,000.00 6,000,000.00 1 160,000,000.00 2 20,000,000.00 35,000,000.00 248,000,000.00 162,500,000.00 1 600 667 2004 8 3 2005 8 3 2 16,000 13,000 ( ) 3,000 11 2,000,000.00 2,000,000.00 5 5 12 a. b. 5% 5% a. b. 5% 5% a. 18,303,088.99 2,918,079.00 39

2004 1,748,945.93 1,021,710.00 b. 10,099,422.00 2,918,079.00 1,748,945.93 1,021,710.00 13 % 3,259,318.50 1,572,984.21 17 224,647.56 106,698.16 7 4,556.40 5 2,756,182.63 5,807,991.81 15 19,446.00 6,264,151.09 7,487,674.18 14 218,789.38 45,727.78 3% 364,648.96 76,212.97 5% 583,438.34 121,940.75 15 1,800,000.00 2,400,000.00 1,800,000.00 2,400,000.00 16 40

2004 5,713,706.88 24,298,502.47 5,713,706.88 24,298,502.47 5,713,706.88 24,298,502.47 5,713,706.88 24,298,502.47 17 2000.7-2010.12 67,200,000.00 30,749,816.37 67,200,000.00 30,749,816.37 18 1,200,000.00 50,000.00 1,020,000.00 2,220,000.00 50,000.00 19 107,373,888.00 107,373,888.00 107,373,888.00 107,373,888.00 60,573,888.00 9,000,000.00 51,573,888.00 46,800,000.00 9,000,000.00 55,800,000.00 79,833,600.00 79,833,600.00 79,833,600.00 79,833,600.00 187,207,488.00 9,000,000.00 9,000,000.00 187,207,488.00 2004 1 9 ( ) 900 ( ) 3.3415 41

2004 [2004]53 2004 7 19 20 104,032,468.49 104,032,468.49 104,032,468.49 104,032,468.49 21 4,910,248.82 3,105,485.36 8,015,734.18 2,455,124.41 1,552,742.68 4,007,867.09 7,365,373.23 4,658,228.04 12,023,601.27 22 % 15,615,160.70-21,022,855.99 31,054,853.56 22,775,659.37 21,022,855.99 10 3,105,485.36 2,277,565.94 5 1,552,742.68 1,138,782.97 3,744,149.76 42,011,786.22 15,615,160.70 2004 2004 10% 5% 187,207,488 10 1.00 18,720,748.80 23 286,261,118.08 223,643,327.16 254,149,090.24 189,718,891.11 4,131,228.43 3,405,383.75 4,902,117.82 4,475,867.40 42

2004 430,054.54 402,681.08 59,818.38 27,595.30 755,406.86 500,208.07 290,882,219.43 227,478,987.29 259,806,614.92 194,694,966.58 2004 129,412,416.24 44.49% 24 7% 1,594,910.08 1,779,291.59 3% 683,532.89 762,553.55 5% 1,139,221.50 1,270,922.58 3,417,664.47 3,812,767.72 25 7,915,003.38 7,240,578.08 313,085.01 1,235,204.44 26,811.50 37,595.51 130,379.90 25,911.44 7,759,109.77 6,068,880.59 26 107,299.00 5,800,000.00 8,000,000.00 [2003]38 5,800,000.00 8,107,299.00 27 42,353.18 3,100,461.02 97,080.11 11,544.51 22,957.24 43

2004 53,897.69 3,220,498.37 28-2,598,627.42 4,041,424.73-2,598,627.42 4,041,424.73 4,488,580.48 7,087,207.90 6,507,038.93 29 580 217 87 44 657 419 112 92 81 68 667 600 6 (1) (2)

2004 ( ) a. 3,143 1,479 b. 8,000 5,000 2004 2 13 2005 2 12 5.0445% 2,000 2004 3 9 2005 3 9 5.0445% 1,000 2003 3 29 2004 3 28 5.31% 10,000 374 8,0003,000 7,16710,0005,000 7,917 c. ( ) 13,000 d. 68 272 221 116 45

2004 e. 244 296 f. 2000 7 9,469 2000 7 1 2010 12 31 640 600 140 740 2005 100 ( ) (%) 523,914.31 826,984.53 0.97 2.77 1,311,479.45 868,790.76 31.20 23.64 2,000,000.00 100.00 200,000.00 0.51-11,375.77 165,116.56-0.02 0.42 30,749,816.37 38,149,816. 100.00 100.00 7 2004 12 31 ( ) 238.68 1998 12 2004 12 15 2004 318 133.97 46

2004 ( ) ( ) 104.73 2005 3 4 ( ) 2004 12 31 8 2004 12 31 9 (1)2005 4 18 2004 2004 10% 5% 187,207,488 10 1.00 18,720,748.80 (2) 2005 4 18 5,713,706.88 2005 4 18 10 (1)2004 1 9 ( ) 900 ( ) 3.3415 [2004]53 2004 7 19 (2) 10,133 19,420 2004 2005 2004 12 31 11 % 47

2004 2004 200320042003 2004200320042003 17.37 19.51 18.19 21.87 0.32 0.33 0.32 0.33 6.47 6.78 6.78 7.60 0.12 0.11 0.12 0.11 8.99 7.25 9.42 8.13 0.17 0.12 0.17 0.12 7.37 5.01 7.72 5.61 0.14 0.08 0.14 0.08-41,933.18 5,800,000.00 360,301.73-11,544.51 265,580.68 137,325.40 6,509,730.12 916,023.61 5,593,706.51 2004 4,230,519.40 1,996,644.20 137,325.40 137,325.40 6,089,838.20 2,401,805.79 1,996,644.20 4,398,449.99 1,828,713.61 137,325.40 137,325.40 1,691,388.21 48

2004 1,178,161.02 265,580.68 265,580.68 912,580.34 1,178,161.02 265,580.68 265,580.68 912,580.34 4,250,000.00 4,250,000.00 4,250,000.00 4,250,000.00 52,095,507.33 52,095,507.3 52,023,541.27 52,023,541.2 61,754,187.75 1,996,644.20 402,906.08 402,906.08 63,347,925.8 30% 30% 5% 5% 10% 10% 2004 12 31 2004 2003 12 31 2003 (%) 55,557,025.22 29,856,358.83 25,700,666.39 86.08 1 47,220,655.15 21,689,520.91 25,531,134.24 117.71 2 60,906,823.12 36,971,894.66 23,934,928.46 64.74 3 167,036,158.84 92,939,178.28 74,096,980.56 79.73 4 248,000,000.00 162,500,000.00 85,500,000.00 52.62 5 42,011,786.22 15,615,160.70 26,396,625.52 169.04 6 6,526,853.25 4,135,956.09 2,390,897.16 57.81 7 31,054,853.56 22,775,659.37 8,279,194.19 36.35 8 49

2004 50 25,700,666.39 86.08% 25,531,134.24 117.71% 23,934,928.46 64.74% 74,096,980.56 79.73% 85,500,000.00 52.62% 20,000,000.00 26,396,625.52 169.04% 2,390,897.16 57.81% 8,279,194.19 36.35% 709 00

2004 2004 12 31 51 55,557,025.22 29,856,358.83 52 7,870,105.85 6,776,034.37 53 47,220,655.15 21,689,520.91 53 3,556,407.54 4,713,699.88 54 4,202,960.23 3,674,559.58 55 60,906,823.12 36,971,894.66 179,313,977.11 103,682,068.23 56 600,000.00 600,000.00 600,000.00 600,000.00 57 739,591,135.19 792,297,808.14 57 322,174,921.60 359,096,932.77 417,416,213.59 433,200,875.37 57 52,095,507.33 52,095,507.33 365,320,706.26 381,105,368.04 28,123,892.63 58 167,036,158.84 92,939,178.28 532,356,865.10 502,168,438.95 59 5,306,780.54 5,477,194.12 5,306,780.54 5,477,194.12 717,577,622.75 611,927,701.30 51

2004 510 248,000,000.00 162,500,000.00 511 2,000,000.00 512 28,167,350.18 16,037,736.71 512 445,932.07 1,685,988.07 595,290.31 3,182,449.71 238,368.83 1,043,923.43 582.00 1,212,059.76 513 6,264,151.09 7,487,674.18 514 583,438.34 121,940.75 512 45,523,642.70 39,237,119.43 515 1,800,000.00 2,400,000.00 516 5,713,706.88 24,298,502.47 339,332,462.40 259,207,394.51 300,000.00 517 30,749,816.37 38,149,816.37 518 2,220,000.00 50,000.00 32,969,816.37 38,499,816.37 372,302,278.77 297,707,210.88 519 187,207,488.00 187,207,488.00 187,207,488.00 187,207,488.00 520 104,032,468.49 104,032,468.49 521 12,023,601.27 7,365,373.23 521 4,007,867.09 2,455,124.41 522 42,011,786.22 15,615,160.70 522 18,720,748.80 345,275,343.98 314,220,490.42 717,577,622.75 611,927,701.30 52

2004 2004 523 290,882,219.4 259,806,614.92 523 227,478,987.2 194,694,966.58 524 3,417,664.47 3,812,767.72 59,985,567.67 61,298,880.62 484,551.46 947,105.05 6,526,853.25 4,135,956.09 23,834,754.01 30,743,009.82 525 7,759,109.77 6,068,880.59 22,349,402.10 21,298,139.17 608,210.18 526 5,800,000.00 8,107,299.00 360,721.73 23,934.12 527 53,897.69 3,220,498.37 28,456,226.14 26,817,084.10 528-2,598,627.42 4,041,424.73 31,054,853.56 22,775,659.37 15,615,160.70-21,022,855.99 21,022,855.99 46,670,014.26 22,775,659.37 3,105,485.36 2,277,565.94 1,552,742.68 1,138,782.97 42,011,786.22 19,359,310.46 3,744,149.76 42,011,786.22 15,615,160.70 1 2 3 4 5-83,791,041.43 6 53

2004 2004 197,088,826.07 5 (29) 9,435,970.95 206,524,797.02 118,321,655.28 30,959,219.13 26,582,787.22 5 (29) 16,945,601.84 192,809,263.47 13,715,533.55 1,934,544.72 68,052.79 2,002,597.51 41,863,904.43 41,863,904.43-39,861,306.92 298,000,000.00 298,000,000.00 212,794,767.70 27,711,276.73 5 (29) 12,917,515.81 253,423,560.24 44,576,439.76 18,430,666.39 54

2004 1 31,054,853.56 1,593,738.12 54,011,692.21 170,413.58-600,000.00 1,815.63 40,117.55 7,915,003.38-26,647,077.56-40,953,918.51-12,871,104.41 13,715,533.55 2 3 5 (1) 48,287,025.22 29,856,358.83 18,430,666.39 55