1 2 3 6 7 8 9 19 21 25 65

1 2 DANDONG CHEMICAL FIBRE CO.,LTD 1 2 58 3 0415 6192957 4 0415 6191684 5 pyd@dcfic.com 1 58 2 58 3 118002 4 http://www.dcfic.com 5 pyd@dcfic.com 1

1 2 http://www.cninfo.com.cn 3 1 2 ST 3 000498 1 1993 12 22 : 2 2004 1 7 : 3 2106001110586 4 21060312010586x 5 6 10 ( ) 49,726,961.76 49,726,961.76 25,069,155.82 113,299,461.11 1,782,858.66 34,158,102.36 15,568,859.40 18,090,330.54 33,483,078.60 2

( ) 1,047,818.58 14,454,829.99 500,000.00 8,655,157.37 24,657,805.94 2003 2002 2001 734,665,479.81 720,473,010.12 814,711,772.41 49,726,961.76-98,852,382.72-109,039,736.42 1,909,603,396.83 1,683,881,866.31 1,636,453,171.31 467,145,587.50 417,336,212.34 516,188,595.06 ( ) / 0.128-0.25-0.28 ( ) / 0.128-0.25-0.28 / 0.064-0.25-0.24 / 1.198 1.07 1.32 / 1.188 1.05 1.31 / 0.046 0.08 0.346 ( ) % 10.65-23.69-21.12 ( ) % 11.24-23.69-21.12 (%) ( / ) 24.25 25.62 0.29 0.29 7.31 7.72 0.09 0.09 10.65 11.24 0.13 0.13 5.37 5.67 0.06 0.06 ( ) 390,000,000 170,557,000 24,354,874.47 12,177,437.23-179,753,099.36 417,336,212.34 82,413.40 49,726,961.76 49,809,375.16 390,000,000 170,639,413.40 24,354,874.47 12,177,437.23-130,026,137.60 467,145,587.50 (1) 3

( : ) +,- 1202,500,000 202,500,000 202,500,000 202,500,000 2 13,500,000 13,500,000 3 4 216,000,000 216,000,000 1 174,000,000 174,000,000 2 3 4 174,000,000 174,000,000 390,000,000 390,000,000 2 55,743 1 / ( (%) ( ) ) 1 ( )202,500,000 51.92 2 7,300,000 1.87 3 2,000,000 0.51 4 2,000,000 0.51 5 1,000,000 0.26 6 ( ) 1,000,000 0.26 7 955,949 0.25 8 954,200 0.24 9 803,460 0.21 10 781,466 0.20 (1) 2003 5 12 90% 4

[2003]222 20250 (2)2002 7 ( ) 20250 10125 12000 2002 7 2 2007 7 1 (3) 730 2 (A B H ) 1 955,949 A 2 954,200 A 3 803,460 A 4 781,466 A 5 709,900 A 6 556,910 A 7 515,110 A 8 511,645 A 9 498,005 A 10 427,600 A 1 ( ) 1996 12 3.28 2 5

2003 5 12 90% 2001 12400 11 ( ( 32 2003.6 2006.6 0 0 33 2003.6 2006.6 0 0 31 2003.6 2006.6 0 0 41 2003.6 2006.6 38,000 38,000 35 2003.6 2006.6 0 0 32 2003.6 2006.6 0 0 40 2003.6 2006.6 0 0 32 2003.6 2006.6 0 0 40 2003.6 2006.6 0 0 37 2003.6 2006.6 0 0 53 2003.6 2006.6 0 0 43 2003.6 2006.6 0 0 48 2003.6 2006.6 0 0 40 2003.6 2006.6 0 0 43 2003.6 2006.6 0 0 39 2003.6 2006.6 0 12,600 2003 4 22 12600 4 23 22.5 3.6 10.5 12,000 / ( ) 12-15 6 6

2002 3424 3067 14 203 11 129 13.8 % 40.8 % 45.4 7

1 2 3 4 5 2003 3 5 2003 5 20 2003 2002 1 2003 2003 4 4 9 213,857,200 54.8% ( ) 2 2002 2003 6 19 8 213,858,700 54.8% 1 2003 ( ) 6577 8

( ) 2003 4 5 2 6 2 2002 2002 2002 2002 2003 6 20 19 19 3 2002 1 1 12 74,840 50,521 73,467 4,973 9

40,163 10,358 4,973 ( ) 1 ( ) ( ) 706,605,090.69 108,738,040.00 22,394,173.03 4,698,577.58 5,666,216.09-137,156.47 734,665,749.81 113,299,461.11 442,410,726.57 53,928,203.83 241,630,590.61 59,597,915.41 21,622,389.16-2,693,582.34 941,384.35-2,094,496.90 22,394,173.03 4,698,577.58 5,666,216.09-137,156.47 734,665,479.81 113,299,461.11 2 10% ( ) (%) ( ) (%) 442,410,726.57 60.22 388,482,522.74 12.19 241,630,590.61 32.89 182,032,675.20 24.66 3 2002 4748.62% 10

( ) 6600 4950 75% 1650 25% 2003 8 ( ) 31,815 61.80% 14,931 20.32% ( ) 11

1 2 3 4 CMD 1 2 2002 8 2003 8 2003 2002 (%) 1,909,603,396.83 1,683,881,866.31 13.40 467,145,587.50 417,336,212.34 11.94 113,299,461.11-2,437,270.67 4748.62 49,726,961.76-98,852,382.72 150.30 483,430,603.11 449,947,524.51 7.44 12

2004 2004 1 2 3 4 5 6 ( ) 1 2003 3 4 9 7 ( ) 6577 ( ) 13

2 2003 4 12 9 8 2002 2002 2002 2002 3 2003 4 23 9 7 2003 4 2003 5 19 9 7 4 2002 5 2003 6 20 27 9 9 6 2003 7 26 27 9 9 2003 14

7 2003 10 22 27 9 8 8 2003 10 24 27 9 8 ( ) 2003 2002 49,726,961.76-179,753,099.36-130,026,137.60 [2003]56 2001 2002 2003 5 12 ST 1 15

16 2

2003 ( ( 2003 12 31 2002 12 31 ) ) 19,382,978.24 13,222,050.00 6,160,928.24 6,018,317.15 5,537,885.08 480,432.07 899,921,869.23 1,017,789,022.12 117,867,152.89 110,496,057.80 88,648,707.63 21,847,350.17 68,000,000.00 22,472,907.91 45,527,092.09 1,000,000.00 1,000,000.00-31,435,547.73 30,032,883.26 1,402,664.47 1,215,000.00 1,215,000.00 300,000.00 300,000.00 6,098,022.81 6,098,022.81 700,000.00 1,215,000.00 515,000.00 127,558,336.80 158,420,729.18 30,862,392.38 1,633,888.20 1,837,734.98 203,846.78 800,000.00 800,000.00 21,349,618.70 21,349,618.70 11,000,000.00 6,000,000.00 5,000,000.00 1,266,146,995.15 42,300,376.49 1,337,639,185.18 6,000,000.00 11,589,586.37 119,382,152.89 17

1-2 - 2003 117,867,152.89 2003, 18 899,921,869.23 1 819,704,221.45 2 146,602.74 3 11,259,949.33 4 68,811,095.71 2003 1,039,138,640.82 1 2 65,774,043.50 120,904,205.10 3 13,329,680.87 4 839,130,711.35 2003-21,349,618.70-21,349,618.70 2003 12 31 3 2003 117,867,152.89 65,774,043.50 52,093,109.39 2003-6 17 4 5 2003 56

2003 12 31 50 10 70 2003 1 2003 3 4 3 3 ( ) 6577 ( ) 2 2003 4 12 3 3 2002 2002 2002 2002 2002 3 2003 4 23 3 3 2003 4 2003 5 19 3 3 5 2003 6 20 3 3 19

6 2003 7 26 3 3 2003 7 2003 10 22 3 3 2003 1 2 2003 3 4 2003 3 4 ( ) 6577 ( ) 2003 5 12 90% 20

2003 10 24 5 6 2003 1 2003 3 3 2003 2002 12 31 65,774,043.50 2 2003 52,093,109.39 200 3 [2003]92 37,523,212.20 3760 1,697 34.13% 21

1 2003 2002 ( ) 6,628,322.42 17,865,755.20 ( ) 5,143,150.77 16,565,118.07 5,706,175.80 1,396,485.64 871,794.87 ( ) 528,323.69 2 2003 2002 110,910,006.58 76,753,761.68 30,704,355.58 22,472,907.91 1,137,734.98 1,008,179.61 3 2003 2002 2,430,000.00 800,000.00 300,000.00 4 2003 2002 ( ) 992,205.00 5 1 2002 50% 10,125 ( 25.96%) 1.2 2002 7 2 2007 7 1 2 139,400,000.00 19,000,000.00 53,000,000.00 6 (1) 2001 12 27 1.98% 1-6 1,047,818.58 22

2,738,154.51 (2) 2003 2002 845,705.89 289,056.00 86,609.07 64,452.30 109,427.63 161,165.57 755,989.16 898,212.00 2003 10,273,841.07 2002 12,231,885.15 2003 3 3 2002 12 31 6,577 2003 3 3 401,675.1 12,090.42 2003 3 4 2003 4 4 2003 2003 4 4 2003 2003 6 12 23

1 2003 11 6 ( 100 ) 2003 12 1 2008 11 31 42 2 2003 12 31 500 20030826-20040822 400 20030630-20040625 410 20031031-20041015 400 20030131-20040115 600 20030108-20040108 20030107-20060108 500 20030519-20040520 20030519-20060520 500 20030828-20060224 450 20030828-20040810 3,760 2004 1 7 2004 1 15 3 5 ( 5 ) 40 3 24

1 2003 3 5 26 27 2 2003 5 13 31 30 3 2003 5 17 40 19 4 2003 6 17 10 11 5 2003 8 20 46 22 6 2003 9 29 4 3 7 2003 10 28 56 9 ( ) [2004]028 2003 12 31 2003 2003 25

2003 12 31 2003 ( ) 26

2003 12 31 ( )1 557,629,957.98 557,830,603.11 479,947,524.51 479,947,524.51 ( )15 523,500,000.00 523,500,000.00 441,700,000.00 441,700,000.00 ( )16 276,146,800.00 276,146,800.00 130,610,000.00 130,610,000.00 ( )2 1,050,000.00 1,050,000.00 4,080,000.00 4,080,000.00 ( )17 172,881,400.45 179,015,802.86 148,395,823.98 148,395,823.98 ( )18 14,200,550.34 14,200,550.34 34,689,319.69 34,689,319.69 ( )19 7,606,576.90 7,606,576.90 9,814,242.40 9,814,242.40 ( )3 55,760,093.32 55,760,093.32 52,577,723.78 52,577,723.78 18,955,710.82 18,955,710.82 17,174,689.66 17,174,689.66 ( )4 1,022,551.44 1,022,551.44 113,034,712.79 113,034,712.79 ( )20 290,040.00 290,040.00 290,040.00 290,040.00 ( )5 85,934,500.99 85,934,500.99 4,468,216.97 4,468,216.97 ( )21 10,378,850.77 10,378,850.77 18,302,939.08 18,302,939.08 ( )22 3,916,617.56 3,916,617.56 4,868,758.82 4,868,758.82 ( )6 123,789,467.45 123,789,467.45 67,754,638.74 67,754,638.74 ( )23 94,552,766.35 74,371,300.09 62,961,951.69 42,366,095.43 ( )24 1,335,398.58 1,335,398.58 ( )25 1,600,161.41 1,600,161.41 2,329,701.41 2,329,701.41 ( )26 120,010,000.00 120,010,000.00 170,774,043.50 170,774,043.50 825,186,571.18 825,387,216.31 721,862,816.79 721,862,816.79 1,245,374,873.18 1,231,327,809.33 1,041,911,510.23 1,021,315,653.97 ( )2 49,500,000.00 49,500,000.00 ( )27 175,000,000.00 175,000,000.00 226,010,000.00 226,010,000.00 49,500,000.00-49,500,000.00 - ( )28 19,630,000.00 19,630,000.00 2,720,000.00 2,720,000.00 ( )7 1,190,422,695.72 1,190,422,695.72 1,327,717,817.71 1,327,717,817.71 ( )7 551,064,765.88 551,064,765.88 608,869,588.90 608,869,588.90 194,630,000.00 194,630,000.00 228,730,000.00 228,730,000.00 ( )7 639,357,929.84 639,357,929.84 718,848,228.81 718,848,228.81 ( )8 44,491,578.03 44,491,578.03 45,582,653.66 45,582,653.66 594,866,351.81 594,866,351.81 673,265,575.15 673,265,575.15 ( )9 17,299,162.12 17,299,162.12 31,406,025.57 31,406,025.57 ( )10 295,522,304.59 330,335,319.76 205,919,562.48 234,418,867.38 1,440,004,873.18 1,425,957,809.33 1,270,641,510.23 1,250,045,653.97 16,500,000.00 16,500,000.00 907,687,818.52 942,500,833.69 910,591,163.20 939,090,468.10 ( )12 124,666,070.98 136,697,320.98 5,323,742.58 18,729,992.58 ( )29 390,000,000.00 390,000,000.00 390,000,000.00 390,000,000.00 ( )13 4,908,025.85 3,498,588.84 ( )30 170,639,413.40 170,639,413.40 170,557,000.00 170,557,000.00 ( )14 110,000.00 110,000.00 700,000.00 700,000.00 ( )31 36,532,311.70 36,532,311.70 36,532,311.70 36,532,311.70 : 12,177,437.23 12,177,437.23 12,177,437.23 12,177,437.23 124,776,070.98 141,715,346.83 6,023,742.58 22,928,581.42 ( )32-130,026,137.60-130,026,137.60-179,753,099.36-179,753,099.36 467,145,587.50 467,145,587.50 417,336,212.34 417,336,212.34 1,907,150,460.68 1,909,603,396.83 1,687,977,722.57 1,683,881,866.31 1,907,150,460.68 1,909,603,396.83 1,687,977,722.57 1,683,881,866.31 27

2003 ( )33 734,665,479.81 734,665,479.81 720,473,010.12 720,473,010.12 ( )34 617,286,934.61 617,286,934.61 718,986,486.63 718,986,486.63 ( )35 4,079,084.09 4,079,084.09 3,923,794.16 3,923,794.16 113,299,461.11 113,299,461.11-2,437,270.67-2,437,270.67 ( )36 1,782,858.66 1,782,858.66 1,529,569.61 1,529,569.61 4,145,270.11 4,145,270.11 705,498.31 705,498.31 35,767,543.54 35,767,543.54 49,209,430.26 49,209,430.26 ( )37 41,011,403.76 41,011,403.76 43,284,872.62 43,284,872.62 34,158,102.36 34,158,102.36-94,107,502.25-94,107,502.25 ( )38 17,037,247.20 17,037,247.20 106,357.85 106,357.85 ( )39 1,468,387.80 1,468,387.80 4,851,238.32 4,851,238.32 49,726,961.76 49,726,961.76-98,852,382.72-98,852,382.72 49,726,961.76 49,726,961.76-98,852,382.72-98,852,382.72-179,753,099.36-179,753,099.36-80,900,716.64-80,900,716.64-130,026,137.60-130,026,137.60-179,753,099.36-179,753,099.36-130,026,137.60-130,026,137.60-179,753,099.36-179,753,099.36-130,026,137.60-130,026,137.60-179,753,099.36-179,753,099.36 : 1 2 3 ( - ) -12,578,018.12-12,578,018.12 4 ( - ) 5 6 28

2003 1 1 2003 12 31 1 1 41 2 673,513,341.06 673,513,341.06 42 49,726,961.76 49,726,961.76 3 43-6,070,163.71-6,070,163.71 4 97,617,798.63 97,617,798.63 44 60,742,575.13 60,742,575.13 5 45 1,561,876.70 1,561,876.70 6 771,131,139.69 771,131,139.69 46 7 557,616,839.29 557,616,839.29 47 8 51,530,604.33 51,530,604.33 48 1,335,398.58 1,335,398.58 9 54,972,285.12 54,972,285.12 49-15,987,217.79-15,987,217.79 10 89,323,148.40 88,921,080.41 50 11 51 48,256,138.43 48,256,138.43 12 753,442,877.14 753,040,809.15 52 13 17,688,262.55 18,090,330.54 53 14 54-54,781,251.23-54,781,251.23 15 55-100,489,074.60-100,087,006.61 16 56 33,503,019.28 33,503,019.28 17 37,680,000.00 37,680,000.00 57-110,000.00-110,000.00 18 58 19 59 20 37,680,000.00 37,680,000.00 60 17,688,262.55 18,090,330.54 21 126,015,930.45 126,217,353.31 61 22 2 62 23 63 24 64 25 126,015,930.45 126,217,353.31 65 26-88,335,930.45-88,537,353.31 66 27 67 28 3 68 29 737,300,000.00 737,300,000.00 69 483,229,957.98 483,430,603.11 30 115,519,534.63 115,519,534.63 70 449,947,524.51 449,947,524.51 31 71 32 852,819,534.63 852,819,534.63 72 33 699,000,000.00 699,000,000.00 73 34 49,720,813.27 49,720,813.27 74 35 168,619.99 168,619.99 75 36 76 37 748,889,433.26 748,889,433.26 77 38 103,930,101.37 103,930,101.37 78 39 79 40 33,282,433.47 33,483,078.60 80 33,282,433.47 33,483,078.60 29

2003 01 1 14,902,412.40 2,584,993.66 6,287,550.48 11,199,855.58 8,503,957.19 2,584,993.66 11,088,950.85 6,398,455.21 6,287,550.48 110,904.73 1,431,574.15 1,253,577.48 1,253,577.48 177,996.67 1,431,574.15 1,253,577.48 1,253,577.48 177,996.67 45,582,653.66 1,091,075.63 1,091,075.63 44,491,578.03 1,091,075.63 1,091,075.63 44,491,578.03 978,595.90 64,000.00 64,000.00 914,595.90 30

31 ( ) 2003 1 1993 6 1997 5 6000 A 6 9 2106001110586 58 39,000 21,600 55.38% 17,400 44.62% 2 1 2001 1 1 75%

2 1 1 12 31 3 4 5 6 7 1 ( 1 ) 8 (1 5.3% 2 3 32

33, 70% 9 (1) (2) ( ) (3) (4) (5) 10 1 ( 1 ) (1) ( ) (2) 20% 20% 20% 20% 20% 20% 50% 50% 50%

(3 10 (4 11 1 1 2000 2 2 3 4 3 34

% 13-35 2.77-7.46 12 8.08 15 6.46 20 4.85 10 9.70 33 2.94 9 10.78 (5) 12 (1) (2) " " ( ) 35

(3) 3 13 1 2 3 3 = 36

[ ] = = 100% = [ ] 14 1 2 10 50 12 3 37

15 1 ( 1 ) 16 17 18 1 2 10% 3 5% 4 5 19 (1) 50% 50% 2003 12 31 38

(2) [1995]11 (1) 17 13% 6 (2) 7% (3) 4% [1999]223 1% (4) [2000]99 [2001]3 33% 18% 15% 2001 12 31 2002 33 6600 4950 75 2000 10 2002 12 31 2003 12 31 2002 2003 1 2003 12 31 2002 12 31 3,099.15 8,872.75 364,676,159.87 36,963,651.76 39

193,151,344.09 442,975,000.00 557,830,603.11 479,947,524.51 74,400,000.00 118,751,344.09 1,440 110,000.00 2 2003 12 31 2002 12 31 1,050,000.00 4,080,000.00 1,050,000.00 4,080,000.00 3 1 42,841,361.91 70.13% 2,270,592.18 38,850,586.63 58.12% 2,059,081.09 1-2 6,563,338.73 10.75% 347,856.95 9,772,133.48 14.62% 517,923.07 2-3 3,536,905.99 5.79% 187,456.02 6,563,338.73 9.81% 347,856.95 3 8,140,074.34 13.33% 5,698,052.04 11,662,985.33 17.45% 8,164,089.74 61,081,680.97 100% 8,503,957.19 66,849,044.17 100% 11,088,950.85 22,853,736.16 21,950,761.46 5% 40% 40

2,581,409.72 70% 3 857,483.80 70% 3 828,811.48 70% 3 750,572.98 70% 3 718,626.92 70% 3 641,237.09 70% 3 559,733.50 70% 3 539,163.64 70% 3 487,007.63 70% 3 347,727.59 70% 3 344,852.16 70% 3 343,173.64 70% 3 272,423.49 70% 3 245,261.34 70% 3 237,628.17 70% 3 235,156.50 70% 3 171,000.00 70% 3 170,000.00 70% 3 159,999.95 70% 3 124,431.70 70% 3 122,855.62 70% 3 119,646.71 70% 3 109,501.60 70% 3 10 27 695,280.10 70% 3 11,662,985.33 70% 2003 12 31 2002 12 31 4 1 118,890,298.90 99.54% 6,301,185.84 605,419.17 53.41% 32,087.21 1-2 437,000.00 0.37% 23,161.00 12,472.00 1.10% 661.02 2-3 437,000.00 38.56% 23,161.00 3-4 105,869.10 0.09% 74,108.37 78,565.00 6.93% 54,995.50 119,433,168.00 100% 6,398,455.21 1,133,456.17 100% 110,904.73 119,252,746.89 1,023,849.27 41

5% : 503,757.17 2003 365,000.00 2001 53,092.10 1998 5 1 4,468,216.97 100% 85,934,500.99 100% 4,468,216.97 100% 85,934,500.99 100% 5% 6 13,490,180.92 1,431,574.15 28,477,611.89 177,996.67 15,135,922.25 13,165,271.07 38,350,625.20 81,608,965.59 2,175,198.12 681,918.33 34,286.40 33,697.24 69,186,212.89 1,431,574.15 123,967,464.12 177,996.67 1 2 3 1,253,577.48 4 7 1,327,717,817.71 3,315,904.80 140,611,026.79 1,190,422,695.72 395,233,679.46 395,233,679.46 332,496,215.59 3,315,904.80 24,774,001.09 311,038,119.30 595,716,672.66 115,003,395.70 480,713,276.96 4,271,250.00 833,630.00 3,437,620.00 608,869,588.90 60,742,575.13 118,547,398.15 551,064,765.88 132,405,879.11 16,230,173.31 148,636,052.42 211,327,278.82 13,021,493.51 20,596,610.84 203,752,161.49 261,922,929.79 31,219,199.13 97,455,301.75 195,686,827.17 3,213,501.18 271,709.18 495,485.56 2,989,724.80 718,848,228.81-57,426,670.33 22,063,628.64 639,357,929.84 42

3,315,904.80 140,611,026.79 139,019,126.79 459,900.00 500,000.00 632,000.00 118,547,398.15 117,371,421.75 332,236.23 485,000.00, 358,740.17 22,550 4,000 668,259,509.61 373,316,561.82 2003 4 2003 12 31 43,643,612.41 28,245,153.20 15,398,459.21 45,660.91 15,352,798.30 8 45,582,653.66 1,091,075.63 44,491,578.03 45,582,653.66 1,091,075.63 44,491,578.03 (1) 1,091,075.63 1,050,029.41 41,046.22 (2) 2003 9 31,406,025.57 17,299,162.12 43

10 12 12 61,713.48 65,245.53 126,959.01 105.80% 20 20 97,555.95 97,555.95 48.78% 9 9 19,970.13 87,230.00 107,200.13 119.11% 4 4 44,400.00 44,400.00 111.00% 60 60 594,116.87 594,116.87 99.02% 40 40 53,619.74 53,619.74 13.40% 3 3 5,980.00 5,980.00 19.93% 700 1,436,983.11 50,950.00 1,487,933.11 21.26% 398,978.06 398,978.06 CMD 27000 194,967,161.34 85,013,152.18 279,980,313.52 103.70% 2,693,114.79 5,712,741.97 8,405,856.76 150 150 600,240.00 600,240.00 40.02% 120 1400 1400 3,139,846.27 19,896.00 3,159,742.27 22.57% 700 1100 2,397,336.69 845,664.00 3,243,000.69 29.48% 29 29 184,379.55 184,379.55 63.58% 43 43 381,000.00 77,616.00 458,616.00 106.65% 2.6 2.6 54,930.21 54,930.21 211.27% 93.5 93.5 914,595.90 914,595.90 97.82% 6000 2,191,623.48 2,191,623.48 150 150 802,741.00 34,000.00 836,741.00 55.78% 6000 21810 881,541.25 196,606.97 1,078,148.22 14 14 126,331.89 14,190.20 140,522.09 10 10 20,000.00 20,000.00 706,491.96 706,491.96 16,670,633.91 16,670,633.91 81.5 81.5 113,715.00 304,074.36 417,789.36 17 17. 39 39 4,717.04 4,717.04 1.21% CS2 10 10 25,087.96 25,087.96 25.09% 600 600 17,454.00 17,454.00 0.29% 200 200 1,828,213.61 1,828,213.61 91.41% 130 130 759,000.00 759,000.00 58.38% 80 80 504,447.55 504,447.55 63.06% 280 280 108,986.07 108,986.07 3.89% 28,499,304.90 6,313,710.27 34,813,015.17 235,397,463.28 115,838,991.09 3,315,904.80 16,670,633.91 331,249,915.66 :1 5.58%. 2 3 CMD 1.2 44

11 914,595.90 914,595.90 64,000.00 64,000.00 978,595.90 64,000.00 914,595.90 12 6,492,369.00 5,323,742.58 129,847.38 1,298,473.80 5,193,895.20 41 120,904,205.10 120,904,205.10 1,432,029.32 1,432,029.32 119,472,175.78 48 8 16,500,000.00 13,406,250.00 1,375,000.00 4,468,750.00 12,031,250.00 8 9 143,896,574.10 18,729,992.58 120,904,205.10 2,936,876.70 7,199,253.12 136,697,320.98 13 4,908,025.85 3,498,588.84 1,409,437.01 4,908,025.85 4,908,025.85 3,498,588.84 1,409,437.01 4,908,025.85 14 110,000.00 2002 9 70 11 15 45

225,500,000.00 283,600,000.00 14,400,000.00 523,500,000.00 16 130,610,000.00 276,146,800.00 130,610,000.00 276,146,800.00 2004 6 30 17 148,395,823.98 179,015,802.86 5% ( ) 6,098,022.81 2003 4,376,089.87 3,976,246.21 2,544,614.51 1,606,413.00 1,247,477.13 18 34,689,319.69 14,200,550.34 5% 2003 12 31 2,173,401.85 103, 46

19 9,814,242.40 7,606,576.90 20 60,000.00 60,000.00 170,040.00 290,040.00 21 17% 13% 12,195,165.46 5% 110,694.50 33% -4,924,761.69 1.2% 44,756.05 7% 2,386,291.78 3 /m 2 485,231.09 7,492.20 73,981.38 10,378,850.77 22 4% 3,916,617.56 47

23 42,366,095.43 74,371,300.09 5% ( ) 21,349,618.70 2003 ( ) 21,349,618.70 2003 6,248,862.70 2001-2003 6 6,000,000.00 2002 5,000,000.00 2003 4,788,440.32 2003 3,684,948.16 2003 3,512,011.12 2003 3,419,279.46 2003 3,052,102.60 2003 3,000,000.00 2002 2,513,422.50 2003 2,000,000.00 2002 2,000,000.00 2002 2,000,000.00 2002 1,580,000.00 2002 1,200,000.00 2002 24 1,335,398.58 2003 12 48

25 2,329,701.41 1,600,161.41, 729,540.00, 26 50,010,000.00 40,000,000.00 30,000,000.00 120,010,000.00 27 95,000,000.00 80,000,000.00 175,000,000.00 28 5,170,000.00 [2002]17 60,000.00 [2003]205 14,400,000.00 19,630,000.00 29 49

+ - 1 202,500,000.00 202,500,000.00 202,500,000.00 202,500,000.00 2 13,500,000.00 13,500,000.00 3 4 216,000,000.00 216,000,000.00 1 174,000,000.00 174,000,000.00 2 3 4 174,000,000.00 174,000,000.00 390,000,000.00 390,000,000.00 1998 0020 30 144,300,000.00 144,300,000.00 25,390,000.00 25,390,000.00 867,000.00 82,413.40 949,413.40 170,557,000.00 82,413.40 170,639,413.40 82,413.40 31 24,354,874.47 24,354,874.47 12,177,437.23 12,177,437.23 36,532,311.70 36,532,311.70 50

32-179,753,099.36 49,726,961.76-130,026,137.60 49,726,961.76 33 1 2003 2002 433,399,720.44 295,059,039.06 241,630,590.61 262,921,160.06 21,622,389.16 69,028,251.52 941,384.35 28,369,336.03 9,011,006.13 31,880,836.64 22,394,173.03 28,645,496.02 5,666,216.09 4,568,890.79 734,665,479.81 720,473,010.12 2 2003 2002 199,193,095.33 240,495,322.44 19,210,538.40 34,938,157.03 341,758,622.55 295,050,180.77 86,309,927.79 62,406,865.50 7,920,167.80 20,581,352.85 80,273,127.94 67,001,131.53 734,665,479.81 720,473,010.12 3 149,307,269.04 20.32%. 4 34 1 51

3 2003 2002 379,521,601.62 317,434,006.99 182,032,675.20 237,855,885.67 24,315,971.50 72,983,120.70 3,035,881.25 35,452,797.13 8,960,921.12 34,970,411.71 17,695,595.45 18,196,794.03 1,724,288.47 2,093,470.40 617,286,934.61 718,986,486.63 2 2003 2002 162,641,692.99 237,565,366.45 16,883,877.02 36,139,843.71 287,284,764.93 288,309,840.48 76,434,344.49 65,651,614.22 7,598,747.91 20,859,320.55 66,443,507.27 70,460,501.22 617,286,934.61 718,986,486.63 35 2003 2002 7% 2,595,780.80 2,496,959.91 4% 1,483,303.29 1,426,834.25 4,079,084.09 3,923,794.16 36 2003 2002 197,055.23-97,763.44 583,893.04 733,066.19 993,798.45 803,094.85 29,143.38 91,172.01-21,031.44 1,782,858.66 1,529,569.61 52

37 2003 2002 48,087,518.44 49,023,907.17 7,244,734.67 5,871,442.03 168,619.99 132,407.48 41,011,403.76 43,284,872.62 38 2003 2002 17,037,247.20 29,947.03 62,345.01 14,065.81 17,037,247.20 106,357.85 39 2003 2002 921,504.87 1,525,087.80 1,393,383.05 7,300.00 206,648.99-64,000.00 2,329,701.41 1,468,387.80 4,851,238.32 40 60,273,060.96 30,000,000.00 1,047,818.58 6,196,916.09 100,000.00 97,617,798.63 41 53

88,921,080.41, 74,400,000.00 2,537,897.74 1,600,000.00 1,525,087.80 1,400,000.00 974,600.00 817,584.55 727,196.00 491,801.52 466,012.78 3,980,900.02 7,440 7440 3000 3000 4440 42 98,609,534.63 14,400,000.00 2,510,000.00 115,519,534.63 54

1 2003 2002 3,099.15 8,872.75 364,475,514.74 36,963,651.76 193,151,344.09 442,975,000.00 557,629,957.98 479,947,524.51 74,400,000.00 118,751,344.09 1,440 110,000.00 2 49,500,000.00 49,500,000.00 49,500,000.00 49,500,000.00-12 49,500,000.00 75% 49,500,000.00 (1) (2) - (3) 3 55

4 6,492,369.00 5,323,742.58 129,847.38 1,298,473.80 5,193,895.20 41 120,904,205.10 120,904,205.10 1,432,029.32 1,432,029.32 119,472,175.78 48 8 127,396,574.10 5,323,742.58 120,904,205.10 1,561,876.70 2,730,503.12 124,666,070.98 5 6 148,395,823.98 172,881,400.45 5% 4,376,089.87 3,976,246.21 2,544,614.51 1,606,413.00 1,247,477.13 7 62,961,951.69 94,552,766.35 ( ) 21,349,618.70 2003 20,183,466.26 2000 56

6,248,862.70 2001-2003 6 6,000,000.00 2002 5,000,000.00 2003 4,788,440.32 2003 3,684,948.16 2003 3,512,011.12 2003 3,419,279.46 2003 3,052,102.60 2003 3,000,000.00 2002 2,513,422.50 2003 2,000,000.00 2002 2,000,000.00 2002 2,000,000.00 2002 1,580,000.00 2002 1,200,000.00 2002 57 2003 5 12

90% 202,500,000 51.92% 2003 5 21 [2003]30 2003 9 17 [2003]222 90% 20250 2002 12 31 2003 12 31 32,800 32,800 12,400 12,400. 2002 12 31 2003 12 31 20,250 51.92% 20,250 51.92% 58

: 1 (1) (2) (3) 78 / 0.56 / 22 / (4) 39,827 56,400 992,205.00 (5) 70% 23.80 / 70% 48 / 2 2003 2002 ( ) 6,628,322.42 17,865,755.20 ( ) 5,143,150.77 16,565,118.07 5,706,175.80 1,396,485.64 871,794.87 ( ) 528,323.69 3 59

2003 2002 110,910,006.58 76,753,761.68 30,704,355.58 22,472,907.91 1,137,734.98 1,008,179.61 4 2003 2002 2,430,000.00 800,000.00 300,000.00 5 2003 2002 ( ) 992,205.00 6 1 2002 50% 10,125 ( 25.96%) 1.2 2002 7 2 2007 7 1 2 139,400,000.00 19,000,000.00 53,000,000.00 7 (3) 2001 12 27 1.98% 1-6 1,047,818.58 2,738,154.51 (4) 2003 2002 845,705.89 289,056.00 86,609.07 64,452.30 109,427.63 161,165.57 60

2003 2002 755,989.16 898,212.00 (5) 2003 10,273,841.07 2002 12,231,885.15 (6) 2003 3 3 2002 12 31 6,577 (7) 2003 3 3 401,675.1 12,090.42 2003 3 4 2003 4 4 2003 2003 4 4 2003 2003 6 12 8 2003 2002 12 31 12 31 % 2003 12 31 2002 12 31 6,160,928.24 9.22% 480,432.07 0.72% 117,867,152.89 98.69% 21,847,350.17 25.42% 45,527,092.09 52.98% 1,000,000.00 1.16% - 61

2003 12 31 2002 12 31 % 2003 12 31 1,402,664.47 8.11% 2002 12 31 1,215,000.00 3.87% 300,000.00 0.96% 6,098,022.81 3.41% 515,000.00 0.29% 30,862,392.38 17.24% 203,846.78 0.11% 800,000.00 0.45% 21,349,618.70 28.71% 5,000,000.00 6.72% 9 2003 225,754.20 2002 101,386.80 1 1993 260 2000 2000 7 1,149,748.72 2001 1,149,748.72 2002 2002 8 2002 9 2002 2,329,701.41 729,540.00 2003 4 62

2 2003 l2 31 500 20030826-20040822 400 20030630-20040625 410 20031031-20041015 400 20030131-20040115 600 20030108-20040108 500 20030519-20040520 500 20030828-20060224 450 20030828-20040810 3,760 3,760 500 2003 4,260 1 CMD 2004 1 8 2004 5 2 2004 2 28 2003 1,050,000.00 3 2004 2 24 2003 76,340,000.00 4 2004 1 7 63

1 2003 10 24 2003 10 23 3760 2003 10 24 2 2003 6 20 3 2003 12 19 2003 2002 15,987,217.79-891,557.84 0.00 0.00 500,000.00 0.00 1,047,818.58 2,738,154.51 0.00 0.00 0.00 0.00 0.00 76,410.82-1,532,387.80-3,929,733.45 0.00 0.00 8,655,157.37 13,420,329.44 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 24,657,805.94 11,413,603.48 24,657,805.94 11,413,603.48 2003 12 31 0.24 0.26 0.29 0.29-0.01-0.01-0.01-0.01 0.07 0.08 0.09 0.09-0.23-0.20-0.24-0.24 0.11 0.11 0.13 0.13-0.24-0.21-0.25-0.25 0.05 0.06 0.06 0.06-0.26-0.24-0.28-0.28 64 2002 12 31

2003 12 31 2003 2002 67.03% 70.68% -3.65% 45.30% 46.99% -1.69% ( + ) 1.47% 3.08% -1.61% 74.67% 74.24% 0.44% 24.46% 24.78% -0.32% 15.98% 0.21% 15.77% - 5.05% -3.30% 8.35% 12.75% -25.35% 38.10% 120,010,000.00 170,774,043.50-50,764,043.50 432,736,800.00 287,800,000.00 144,936,800.00 65