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WUHU CONCH PROFILES AND SCIENCE CO.,LTD 2003

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1 - - - - - - - - - - - - - - - - -- 1 2 - - - - - - - - - - - - - -3 3 - - - - - - - - - -- 4 4 - - - - - - - - - - - - -6 5 - - - - - -9 6 - - - - - - - - - - - - - - - 10 7 - - - - - - - - - - - - - 12 8 - - - - - - - - - - - - - - - - 13 9 - - - - - - - - - - - - - - - - 20 10 - - - - - - - - - - - - - - - - 22 11 - - - - - - - - - - - - - - - --25 12 - - - - - - - - - - - - - - - 67 2

Wuhu Conch Profiles and Science Co., Ltd 0553-5840158 5840156 0553-5840118 wh@pvc.conch.cn 241009 http://pvc.conch.cn wh@pvc.conch.cn http://www.cninfo.com.cn 000619 1 1996 10 16 2000 5 8 2000 10 8 2002 5 8 2002 10 29 2 3400001300026 3 340207719962016 4 5 A 12 3

69,125,629.55 58,098,026.57 38,237,056.52 190,281,211.93 5,025,091.49 62,658,510.07-6,392,000.00 75,119.48 60,769,003.47 47,564,646.74 2003 2002 2001 2,240,803,367.68 1,526,953,627.33 1,077,752,396.73 58,098,026.57 187,476,434.84 188,436,608.55 2,068,477,169.03 1,498,425,704.60 1,000,027,130.62 1,228,706,638.09 1,191,024,122.70 386,424,604.03 / 0.1614 0.5208 1.26 / 0.1614 0.5318 1.26 / 3.4131 3.3084 2.58 / 3.4083 3.3030 2.57 (%) 4.73 15.74 48.76 (%) 4.80 19.45 57.94 / 0.17 0.33 1.49 / 0.11 0.44 1.27 / 0.11 0.45 1.26 4

(%) ( ) 15.49 15.74 0.5286 0.5286 5.10 5.18 0.1741 0.1741 4.73 4.80 0.1614 0.1614 3.11 3.16 0.1062 0.1062 19,860,970.05 360,000,000.00 - - 360,000,000.00 455,353,048.21 1,184,488.82-456,537,537.03 96,837,951.92 12,320,545.94-109,158,497.86 48,418,975.96 6,160,272.97-54,579,248.93 257,233,122.57 45,777,480.63-303,010,603.20 21,600,000.00 21,600,000.00 1,191,024,122.70 59,282,515.39 21,600,000.00 1,228,706,638.09 1 3-10 2 3 4 5

000619 2003 6 1 2 3 4 1 2 198000000 198000000 198000000 162000000 162000000 198000000 198000000 198000000 162000000 162000000 360000000 360000000 1 2

1 [1996]146 1996 9 [1996]189 A 1700 1530 170 5.88 1996 10 23 1997 4 23 5000 2 1997 7 15 [1997]151, 1996 5,000, 10:1 10:4, 7,500 3 2000 9 26 2000 6 30 7500 10 4 6 7500 15000 2000 4, 4 2002 3 20 3000 A 21.5 / 2002 4 2 15000 18000 5 2002 8 31 10 10 18000 36000 2 1 2003 12 31 14,653 2 2003 12 31 10 % 1 153,000,000 42.50 2 45,000,000 12.50 3 3,202,216 0.89 4 1,168,624 0.32 5 996,156 0.28 6 868,570 0.24 7 610,200 0.17 8 557,400 0.15 9 430,000 0.12 10 423,100 0.12 1 5 7

3 4 10 : 1 1996 8 28 10168 2 1996 11 8 80000 3 1998 7 31 122,000 4 12.5% 1992 6 18 4091 1 3,202,216 A 2 1,168,624 A 3 996,156 A 4 868,570 A 5 610,200 A 6 557,400 A 7 430,000 A 8 423,100 A 9 409,800 A 10 382,000 A 8

1 46 2003.5.9-2006.5.9 48 43 42 72 67 47 39 46 40 46 31 32 46 2003.5.9-2006.5.9 57 2003.5.9-2006.5.9 50 2003.5.9-2006.5.9 / 2003.9.22-2006.9.22 2003.5.9-2006.5.9 2003.5.9-2006.5.9 2003.5.9-2006.5.9 2003.5.9-2006.5.9 2003.5.9-2006.5.9 2003.5.9-2006.5.9 2003.9.22-2006.9.22 2003.5.9-2006.5.9 2003.5.9-2006.5.9 2003.8.16-2006.8.16 2003.8.16-2006.8.16 0 0 2002.8.28-2005.8.28 0 0 2002.8.28-2005.8.28 0 0 2002.8.28-2005.8.28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2002.8.28-2005.8.28 0 0 0 0 0 0 0 0 0 0 0 0 9

2 1 2 824979 3 356722 345477 4 10 20 4 2 2 10 4 1 1 2 5 2 3 4 2003 12 31 1019 683 67% 113 11% 152 15% 24 2.4% 47 4.5% 58 209 346 406 1 10

2 3 3 4 5 6 7 2003 4 11 2002 73% 2003 2003 2003 1 2 11

3 2000 8 31 50 CONCH 4 5 2002 1 2002 2003 3 11 2 2002 2003 4 11 5 199,212,924 55.34 12002 22002 32002 42002 5 2003 6 2003 7 73% 8 9 2003 4 12 2003 1 2003 2003 8 19 12

2 2003 2003 9 22 3 198,008,600 55.002 1 2 3 4 2003 9 23 1 2003 2 2003 3 2003 4 2003 1 50 60 65 73 77 80 85 88 95 2 PVC 39.25 55.68 224,080.34 46.75 19,028.12 13

5,809.80 A 2,234,551,313.40 190,507,927.58 5,615,692.74-226,715.65 2,240,167,006.14 190,281,211.93 B 1,279,309,941.98 108,362,803.07 357,528,210.14 30,481,268.41 603,328,854.02 51,437,140.45 2,240,167,006.14 190,281,211.93 3 7000 60% 100 17,541.27 29,017.83, 32.74 2001 2 500 90% PVC 1,548.00 14,989.47 316.95 14

2002 2 10000 60 21,467.53 28,967.09 211.87 2003 3 6000 95 5% 17,114.93 2002 73% [2003] 120 801.30 584.95 73% 2202.05 227.03 4 145,692.17 76.16% 19,518.63 8.71% 5 1 PVC PVC 2003 9 29 PVC PVC PVC 2 15

PVC 1 [2001]96 2002 3 20 3000 A 21.5 6.45 6.18 ( ) 19,738.70 19,512.26 3 4,990 4,990 3 2 19,450.62 2,100 12 34,759.63 34,759.63 3 300 3 3 19,512.26 23,228.18 523.66 16

4990 3698.29 1291.71 2 3 [2000]1192 19,450.62 2100 12 2002 24,661.05 27.82 12 7 12 34759.63 33087.29 1672.34 37,813.61 802.95 2 1 6000 2002 28,967.09 211.87 2002 2 3 2003 12 31 2002 12 31 % 2,068,477,169.03 1,498,425,704.60 38.04 157,000,000.00 82,000,000.00 91.46 1,228,706,638.09 1,191,024,122.70 3.16 190,281,211.93 343,132,077.65-44.55 58,098,026.57 187,476,434.84-69.01 17

2003 2002, ;, ;, PVC 2004 04 1 2 3 2004 4 2003 18

1 5 1 2003 3 9 A 2002 B 2002 C 2002 D 2002 E 2002 F 2003 G H I 73% J 2003 K L 2002 C D E F G H I J K 2002 2 2003 4 11 A B 3 2003 4 17 4 2003 8 16 A 2003 B C D E F 2003 5 2003 10 23 6 2003 11 27 19

A B 2 13 2002 2003 10 584.95 73% 2002 2003 6 9 36000 10 0.6 ( ) 2003 6 2 2002 2003 2003 58,098,026.57 6,160,272.97 6,160,272.97 257,233,122.57 303,010,603.20 2003 2004 2003 1 2003 3 9 3 3 2002 20

2002 73% 2003 3 11 2 2003 8 16 3 3 2003 2003 8 19 2003 1 2 2003 3 4 73% 21

1 2003 PVC PVC ( ) 117,062.02 61.20% 32,219.76 2 3 1 2001 60% 7,700 60% 3 7700 40% 7,500 2 2002 60 22

6600 6000 3 2003 60% 6000 3 2003 9 23 4 2003 2 3 4000 2003 9 23 4 2000 8 31 50 CONCH CONCH 1 2000 4 29 2001 4 15 2 42.5% 2000 3 30 3 12.5% 2000 3 30 23

4 2002 2002 36000 10 0.6 3 38 " " 2003 9 1 4500 12.5 15300 " " 2003 9 23-27 2003 11 5 [2003]180 " " 24

[2004] 5 ( )2003 12 31 2003 2003 2003 12 31 2003 2004 2 28 25

2003-12-31 2002-12-31.1 351,858,315.34 304,293,668.60 - -.2 93,979,520.19 4,727,400.00 - - - -.9.3 3,587,230.79 7,986,742.64.9.4 2,160,525.43 5,575,955.49.5 24,133,851.08 9,601,580.76 -.10.6 313,669,330.17 288,023,527.26.7 1,069,008.50 330,146.61 - - 790,457,781.50 620,539,021.36.11-2,985,000.00 - - - 2,985,000.00.12.8 1,244,999,118.59 902,357,736.89.12.8 152,487,448.07 97,085,089.85.8 1,092,511,670.52 805,272,647.04.12.8 - - 1,092,511,670.52 805,272,647.04 934,377.08 -.9 167,446,352.10 54,817,521.71 - - 1,260,892,399.70 860,090,168.75.15.10 17,126,987.83 14,811,514.49 - - - - 17,126,987.83 14,811,514.49 - - - - 2,068,477,169.03 1,498,425,704.60 26

( ) 2003-12-31 2002-12-31.11 374,071,674.40 13,000,000.00.12 10,000,000.00 5,240,000.00.13 125,574,854.93 77,698,107.44.14 18,240,136.71 6,104,658.63.15 2,000,000.00 90,000.00 3,964,455.33 2,470,869.86.16-10,814,010.82 1,333,185.54.17 858,835.58 1,412,580.39.18 35,424,257.54 16,367,299.26.19 13,803,017.42 6,114,356.84.20 30,000,000.00 20,000,000.00 603,123,221.09 149,831,057.96.21 157,000,000.00 82,000,000.00 157,000,000.00 82,000,000.00 760,123,221.09 231,831,057.96 79,647,309.85 75,570,523.94.22 360,000,000.00 360,000,000.00.23 456,537,537.03 455,353,048.21.24 109,158,497.86 96,837,951.92 :.24 54,579,248.93 48,418,975.96.25 303,010,603.20 257,233,122.57 :.26 21,600,000.00 1,228,706,638.09 1,191,024,122.70 2,068,477,169.03 1,498,425,704.60 ( ) 27

2003 2002.18.27 2,240,803,367.68 1,526,953,627.33.28 2,045,330,681.45 1,179,390,556.02.29 5,191,474.30 4,430,993.66 190,281,211.93 343,132,077.65.30 5,025,091.49 2,006,633.68 90,394,353.74 83,177,532.64 27,083,864.84 16,966,356.50.31 15,169,574.77 6,254,834.11 62,658,510.07 238,739,988.08.32 6,392,000.00 6,990,000.00.33 136,231.15 234,390.10.34 61,111.67-833,553.70 69,125,629.55 246,797,931.88.35 9,567,429.38 53,605,576.87 1,460,173.60 5,715,920.17 58,098,026.57 187,476,434.84 257,233,122.57 130,870,237.73 315,331,149.14 318,346,672.57.24 6,160,272.97 19,756,775.00.24 6,160,272.97 19,756,775.00 303,010,603.20 278,833,122.57.26 21,600,000.00.25 303,010,603.20 257,233,122.57 ( ) 28

(%) 2003 15.49 15.74 0.5286 0.5286 5.10 5.18 0.1741 0.1741 4.73 4.80 0.1614 0.1614 3.11 3.16 0.1062 0.1062 2002 28.81 35.60 0.9531 0.9734 20.04 24.77 0.6632 0.6773 15.74 19.45 0.5208 0.5318 13.31 16.44 0.4403 0.4496 2003 2002 1 75,119.48 1,067,943.80 2 6,392,000.00 116,000.00 3 - - 4 - - 5 - - 6 - - 7 15,528,000.00 28,191,288.92 7 21,995,119.48 29,375,232.72 2,134,149.43 390,701.45 : 2003 2002 1 - - 2 - - 3 - - 4 - - 5 - - 6 - - 29

2003 2,642,548,104.62 16,527,000.00.36 136,231.15 2,659,211,335.77 2,376,641,990.74 26,530,609.75 99,377,403.00.37 95,892,328.81 2,598,442,332.30 60,769,003.47 - - - - - 418,568,371.95 - - 418,568,371.95-418,568,371.95 30

2003 - - 580,122,507.93-580,122,507.93 138,000,000.00 36,758,492.71 : - - 174,758,492.71 405,364,015.22 -.7 47,564,646.74 ( ) 31

1 2003 58,098,026.57 1,460,173.60-791,692.70 55,402,358.22 528,865.80 - -738,861.89 ( ) 7,677,578.52 - - 15,169,574.77 - - -30,658,422.93-91,331,665.45 45,953,068.96-60,769,003.47 2 - - - 3 351,858,315.34 304,293,668.60 - -.7 47,564,646.74 32

2003-12-31 2002-12-31 304,399,827.53 276,775,541.63-87,986,565.21 3,327,400.00 2,400,000.00 -.1 9,252,361.53 10,613,992.73.2 1,387,578.50 35,545,530.35 7,849,084.75 7,502,007.08-235,477,062.72 205,736,676.22 362,536.52 12,000.00 - - 646,715,016.76 541,913,148.01.3 190,392,782.13 122,006,471.02 - - 190,392,782.13 122,006,471.02 946,720,651.97 629,545,361.50 118,052,029.64 84,465,312.65 828,668,622.33 545,080,048.85 - - 828,668,622.33 545,080,048.85 - - 143,623.99 54,817,521.71 - - 828,812,246.32 599,897,570.56 10,788,591.85 11,007,714.13 - - - - 10,788,591.85 11,007,714.13 - - - - 1,676,708,637.06 1,274,824,903.72 33

( ) 2003-12-31 2002-12-31 276,071,674.40 10,000,000.00 5,240,000.00 101,367,724.53 29,428,864.14 13,795,673.33 5,769,227.89 2,000,000.00 3,781,789.48 2,348,948.83-10,252,600.36 4,972,579.95 735,696.50 1,297,983.73 18,376,719.77 10,771,985.99 12,442,341.28 4,016,831.33 10,000,000.00 20,000,000.00 438,319,018.93 83,846,421.86 10,000,000.00 10,000,000.00 448,319,018.93 83,846,421.86 360,000,000.00 360,000,000.00 456,537,537.03 455,353,048.21 105,433,267.16 93,825,086.74 : 52,716,633.58 46,912,543.37 306,418,813.94 260,200,346.91 21,600,000.00 1,228,389,618.13 1,190,978,481.86 1,676,708,637.06 1,274,824,903.72 ( ) 34

2003 2002.4 1,886,063,482.56 1,448,966,640.15.5 1,737,007,555.87 1,145,796,486.04 4,438,602.68 3,709,866.01 144,617,324.01 299,460,288.10 4,196,761.90 2,757,175.00 66,786,928.64 71,528,760.98 19,108,412.56 11,384,942.02 7,415,828.27 3,698,272.99 55,502,916.44 215,605,487.11.6 4,352,322.29 9,378,501.11 5,903,000.00 6,874,000.00 35,820.79 219,422.59 60,898.10-871,130.45 65,733,161.42 232,948,541.26.7 7,906,513.97 45,517,747.26 57,826,647.45 187,430,794.00 260,200,346.91 131,855,711.71 - - 318,026,994.36 319,286,505.71 5,804,090.21 18,743,079.40 5,804,090.21 18,743,079.40 306,418,813.94 281,800,346.91 - - - 21,600,000.00 - - 306,418,813.94 260,200,346.91 : 2003 2002 1 - - 2 - - 3 - - 4 - - 5 - - 6 - - ( ) 35

2003 2,148,415,822.90 15,940,000.00 35,820.79 2,164,391,643.69 1,941,082,982.78 19,857,625.77 85,379,487.32 47,353,811.500 2,093,673.907.37 70,717,736.32-2,400,000.00 - - 2,400,000.00 225,750,630.08 62,849,500.00-288,600,130.08-286,200,130.08 36

2003-372,122,507.93-372,122,507.93 100,000,000.00 29,015,828.27-129,015,828.27 243,106,679.66 -.7 27,624,285.90 ( ) 37

1 2003 57,826,647.45-1,050,789.16 33,586,716.99 240,002.28 - -350,536.52 ( ) 8,425,509.95 - - 7,415,828.27-4,352,322.29 - -28,685,713.45-54,883,543.72 52,545,936.52-70,717,736.32 2 - - - 3 304,399,827.53 276,775,541.63 - - 27,624,285.90 38

: : 2002.12.31 2003.12.31 713,826.21 556,112.95 1,235,450.40 1,672,568.16 1,646,763.12 1,668,684.27 302,513.49 559,996.84 420,354.88 281,401.88 1,235,450.40 1,672,568.16 1,467,003.64 1,467,003.64 *1 188,801.64 486,966.40 293,471.33 274,711.07 - - 179,759.48 201,680.63 113,711.85 73,030.44 1,054,673.05 1,054,673.05 674,293.07 1,054,673.05 1,054,673.05 674,293.07 674,293.07 674,293.07 1,054,673.05 1,054,673.05 1,054,673.05 1,054,673.05 *1 1,467,003.64 39

2003 2002 360,000,000.00 150,000,000.00-210,000,000.00-360,000,000.00 360,000,000.00 455,353,048.21 46,059,194.99 1,184,488.82 589,293,853.22 180,000,000.00 180,000,000.00 456,537,537.03 455,353,048.21 46,912,543.37 28,169,463.97 5,804,090.21 18,743,079.40 5,804,090.21 18,743,079.40 5,804,090.21 18,743,079.40 52,716,633.58 46,912,543.37 52,716,633.58 46,912,543.37 46,912,543.37 28,169,463.97 5,804,090.21 18,743,079.40 5,804,090.21 18,743,079.40 52,716,633.58 46,912,543.37 260,200,346.91 131,855,711.71 57,826,647.45 187,430,794.00 11,608,180.42 59,086,158.80 306,418,813.94 260,200,346.91 ( ) 40

: : 2003 1-7,579,215.83 2 455,108,099.59 15,083.93 156,729.71-3 402,559,824.37 226,653.20 - - 57,828,323.97 4-12,914,104.14 1 - -7,121,118.14 2-57,828,323.97 3 51,287,484.39 4 - -580,278.56 41

000619 2003 42 :, 1996 5,,,1996 9 [1996]189,, 1996 10 16 1996 10 23 [1996]337, A 1,700,1997 7 [1997]151, 5,000, 10:1 10:4, 7,500 2000 [2000]59 [1999]130 [2000]17,, 1999 12 31, 1999 12 31, 2000 6, 7,500 2000, 2000 6 30 75,000,000, 10 4, 10 6, 10 10, 150,000,000 [2001]96 2002 3 20 3,000 A 21.50 / 645,000,000 2002 3 27 15,000 18,000 2002 8 31 10 10 18,000 36,000 2002 11 7

: 1. 2. 1 1 12 31 3. 4., 5. ( ),, 6. [1995]11 7. 8.,, 43

9. 1 ; 2 5% 10.,, 11. 12. (1) / (2) 3 10 4 44

13. (1) :, (2) :,, 14. (1) 2,000 (2) (3) ( ) 25 4% 10-20 5-10% 5-10 10-20% 5 20% 5 20% % (4) 15., 45

1 3 2 3 16. 1 50 2 A B C 17. 18. 5 19. (1) (2) (3) 20. 46

, 21. 22. 1. [1995]11 (1996)2 ( ) ( ) 2 2003 12 31,, 17% *1 7% 3% 33% *2 *1 [2002]21 1999 48 2000 2002 *2 [2001]101 33%, 47

, 2000 2000 2001 2002-2004 2001 128 2002 33% 33% 1994 36 2003 15% 1 2003 12 < > 2003 7 1 2002 21,600,000.00 2 2000-2002 3,324,980.91 2,659,984.73 664,996.18 332,498.09 332,498.09 2003 12 31 ( ) 500 450 90% PVC ; 7,000 4,200 60% ; 10,000 6,000 60% PVC 300 270 90% 190 138.7 73% *1 *1 2003 4 73% 2003 2 28 73% 584.95, 48

2003 10 31 2003 3 1 10 31 2003 11 ( ) 1 2003-12-31 2002-12-31 393,417.33 28,851.94 348,263,933.43 304,264,816.66 3,200,964.58 351,858,315.34 304,293,668.60 1 0.36 10.3383 3.70 2 2 2003-12-31 2002-12-31 93,979,520.19 4,727,400.00 93,979,520.19 4,727,400.00 1 2 5% 5% 3 1887.97% 3 2003.12.31 2002.12.31 (%) (%) 1 2,739,406.40 72.55 136,970.33 2,602,436.07 4,581,330.88 54.49 229,066.55 4,352,264.33 1 2 308,810.86 8.18 15,440.54 293,370.32 311,187.68 3.70 15,559.38 295,628.30 2 3 167,532.80 4.44 8,376.64 159,156.16 1,809,161.51 21.52 90,458.08 1,718,703.43 3 560,282.37 14.84 28,014.13 532,268.24 1,705,417.45 20.29 85,270.87 1,620,146.58 3,776,032.43 100.00 188,801.64 3,587,230.79 8,407,097.52 100.00 420,354.88 7,986,742.64 1 5%( 5%) 2 1,148,346.54 30.41% 49

4 2003.12.31 2002.12.31 (%) (%) 1 2,110,163.51 92.79 105,508.16 2,004,655.35 5,685,203.73 96.86 284,260.18 5,400,943.55 1 2 37,409.24 1.64 1,870.46 35,538.78 87,065.09 1.48 4,353.25 82,711.84 2 3 1,500.00 0.07 75.00 1,425.00 90,300.00 1.54 4,515.00 85,785.00 3 125,164.53 5.50 6,258.23 118,906.30 6,858.00 0.12 342.90 6,515.10 2,274,237.28 100.00 113,711.85 2,160,525.43 5,869,426.82 100.00 293,471.33 5,575,955.49 2003 12 31 212,022.32 65,500.00 41,000.00 32,400.00 33,201.98 1 384,124.30 16.89% 2 5%( 5%) 3 61.25% 5 2003-12-31 2002-12-31 % 1 24,133 851.08 100.00 9,600,781.76 99.99 1 2 2 3 3 799.00 0.01 24,133,851.08 100.00 9,601,580.76 100.00 % 1 151.35% 2 5%( 5%) 50

6 2003.12.31 2002.12.31 80,309,309.92 444,419.93 79,864,889.99 124,559,779.97 124,559,779.97 96,145,103.08 96,145,103.08 3,563,996.04 109,857.17 3,454,138.87 3,077,918.74 3,077,918.74 129,205,823.79 120,015.97 129,085,807.82 48,360,231.27 48,360,231.27 324,999.19 324,999.19 204,819.57 204,819.57 1,790,322.56 1,790,322.56 112,116,236.34 1,054,673.05 111,061,563.29 16,803.24 16,803.24 2,987,265.42 2,987,265.42 759,214.42 759,214.42 314,343,623.24 674,293.07 313,669,330.17 289,078,200.31 1,054,673.05 288,023,527.26 1 8.90% 2 1,456,921,726.85 76.16% 7 2002-12-31 2003-12-31-609,508.11 367,342.31 242,165.80 330,146.61 3,133,423.13 2,642,860.36 820,709.38-288,271.63 288,271.63 - - 9,200.00 3,066.68 6,133.32 330,146.61 4,040,402.87 3,301,540.98 1,069,008.50 223.80% 8 2002-12-31 2003-12-31 : 149,829,552.65 50,681,270.34 200,510,822.99 733,570,339.29 286,706,368.17 1,020,307,907.46 8,474,778.00 2,958,606.66 11,465,399.66 7,248,801.36 493,995.00 7,742,796.36 3,234,265.59 1,801,141.53 4,972,192.12 902,357,736.89 342,641,381.70 1,244,999,118.59 : 12,189,061.97 5,948,504.48 15,463,330.16 78,615,737.39 20,881,316.15 34,005,507.53 2,905,694.37 26,587,284.60 97,643,975.20 2,134,547.14 842,287.17 3,003,999.56 1,240,048.98 1,142,965.82 2,370,635.62 97,085,089.85 55,402,358.22 152,487,448.07 51

805,272,647.04 1,092,511,670.52 805,272,647.04 1,092,511,670.52 311,409,094.46 9. 3 12 17,834,612.32 36,982,909.39 ( : ) 2,688,122.46 253,539,490.06 301,079.45 ( : ) 2,688,122.46 271,374,102.38 33,425,348.84 ( : ) 3,858,640.00 ( : ) ( : ) 100% 100% 100% 200,000,000.00 54,817,521.71 ( : ) 162,498,362.10 8,923,424.88 427,950,478.95 ( : ) 970,259.38 970,259.38 3,921,520.78 311,409,094.46 ( : ) 53,914.10 3,912,554.10 ( : ) 162,498,362.10 4,947,990.00 167,446,352.10 ( : ) 970,259.38 970,259.38 80% 1 0, 970,259.38 0, 970,259.38 2 2003 12 31 52

10 2002-12-31 2003-12-31 1 4,732,649.20 3,729,448.56 94,652.98 1,097,853.62 3,634,795.58 38 2 4,564,560.40 3,803,800.36 228,228.00 988,988.04 3,575,572.36 15 7 3 7,552,465.15 7,278,265.57 145,117.30 419,316.88 7,133,148.27 47 44 4 2,816,499.14 2,816,499.14 60,461.52 60,461.52 2,756,037.62 5 27,840.00 27,840.00 406.00 406.00 27,434.00 19,694,013.89 14,811,514.49 2,844,339.14 528,865.80 2,567,026.06 17,126,987.83, 13 2 4 11 2003.12.31 2002.12.31 274,071,674.40 13,000,000.00 100,000,000.00 374,071,674.40 13,000,000.00 7,358,238.24 1 10.3383 76,071,674.40 100,000,000.00 40,000,000.00 40,000,000.00 18,000,000.00 12 2003-12-31 2002-12-31 10,000,000.00 5,240,000.00 10,000,000.00 5,240,000.00 1 2 5% 5% 53

3 90.84% 13 2003-12-31 2002-12-31 % % 1 125,180,473.90 99.69 77,577,784.70 99.85 1 2 147,004.54 0.12 26,902.74 0.03 2 3 16,252.15 0.01 93,420.00 0.12 3 231,124.34 0.18 125,574,854.93 100.00 77,698,107.44 100.00 1 5% 5% 2 2003 12 31 2 3 3 75,637,586.30 60.23% 4 61.62% 14 2003-12-31 2002-12-31 % % 1 18,240,136.71 100.00 6,104,658.63 100.00 1 2-18,240,136.71 100.00 6,104,658.63 100.00 5% 5% 15 2003-12-31 2002-12-31 2,000,000.00 90,000.00 2,000,000.00 90,000.00 16 2003-12-31 2002-12-31-13,494,382.70-14,700,333.97 1,883,177.96 15,044,138.50 469,975.56 938,846.94 50.00 54

49,828.89 19,367.34 2,189.56 35,352.04 17,974.49 239,797.87 13,192.24-10,814,010.82 1,333,185.54 17 2003-12-31 2002-12-31 228,990.44 639,036.30 629,845.14 773,544.09 858,835.58 1,412,580.39 18 2003-12-31 2002-12-31 % % 1 17,044,551.61 48.11 15,538,754.05 94.94 1 2 9,458,075.92 26.70 828,545.21 5.06 2 3 5,171,745.95 14.60 3 3,749,884.06 10.59 35,424,257.54 100.00 16,367,299.26 100.00 2003 12 31 8,135,955.15 2 3 4,660,270.00 4,000,000.00 689,884.62 1,004,415.30 1-2 1 18,490,525.07 52.20% 2 5% 5% 8,135,955.15 3 116.43% 55

19 2003-12-31 2002-12-31 1,273,404.03 940,431.16 1,045,804.22 3,753,790.36 1,284,719.67 122,127.50 111,045.44 7,375,125.58 2,732,356.35 1,278 569.95 13,803,017.42 6,114,356.84 125.75% 20 2003-12-31 2002-12-31 RMB 30,000,000.00 RMB 20,000,000.00 30,000,000.00 20,000,000.00 1,000 2,000 21 2003-12-31 2002-12-31 RMB 157,000,000.00 RMB 82,000,000.00 157,000,000.00 82,000,000.00 1,000 7,000 5,700 2,000 56

22 2002-12-31. ( ) 2003-12-31 1. 45,000,000.00 45,000,000.00 : 45,000,000.00 45,000,000.00 2. : 153,000,000.00 153,000,000.00 198,000,000.00 198,000,000.00. 162,000,000.00 162,000,000.00. 360,000,000.00 360,000,000.00 23 2002-12-31 2003-12-31 442,276,360.74 442,276,360.74 9,176,087.47 9,176,087.47 *1 3,900,600.00 1,184,488.82 5,085,088.82 455,353,048.21 1,184,488.82 456,537,537.03 *1 2003 4 73% 2003 2 28 73% 584.95, 2003 10 31 2003 3 1 10 31 2003 11 1,184,488.82 24 2002-12-31 2003-12-31 48,418,975.96 6,160,272.97-54,579,248.93 48,418,975.96 6,160,272.97-54,579,248.93 96,837,951.92 12,320,545.94-109,158,497.86 2000-2002 3,324,980.91 664,996.18 32,498.09 332,498.09 57

25 2003 2002 58,098,026.57 187,476,434.84 257,233,122.57 130,870,237.73 315,331,149.14 318,346,672.57 :1. 2. 3. 10% 6,160,272.97 19,756,775.00 4. 10% 6,160,272.97 19,756,775.00 5. 21,600,000.00 303,010,603.20 257,233,122.57 2000-2002 3,324,980.91 2,659,984.73 2002 923,369.22 2002 1,736,615.51 26 2003 2002 21,600,000.00 21,600,000.00 27 2003 2002 2,234,551,313.40 1,477,889,945.19 636,361.54 33,735,927.53 5,615,692.74 10,035,740.88 5,292,013.73 2,240,803,367.68 1,526,953,627.33 46.75 19,518.63 8.71% 28 2003 2002 2,038,851,911.52 1,134,287,078.64 636,361.54 29,637,774.01 5,842,408.39 9,065,712.84 6,399,990.53 2,045,330,681.45 1,179,390,556.02 73.42 PVC 58

29 2003 2002 3,585,303.47 3,053,185.99 1,606,170.83 1,377,807.67 5,191,474.30 4,430,993.66 30 2003 2002 4,668,608.04 861,020.27 926,044.93 116,776.07 356,483.45 102,792.41 5,025,091.49 2,006,633.68 31 2003 2002 18,146,423.13 10,758,879.97 3,094,149.77 4,600,896.30 117,301.41 96,850.44 15,169,574.77 6,254,834.11 142.53% 32 2003 2002 6,392,000.00 6,990,000.00 6,392,000.00 6,990,000.00 590.3 371010767 11.9 5 PVC 37 59

33 2003 2002 70,123.84 92,067.47 72,018.00 15,500.00 66,107.31 54,804.63 136,231.15 234,390.10 34 2003 2002-908,196.16 25,352.00 74,642.46 35,759.67 61,111.67-833,553.70 35 2003 2002 9,567,429.38 53,605,576.87 1 [2000]3, 1543 2 2003 1 22 3710304728 2002-1-1 2002 12 31 7% 2003 1 1 2005 12 31 3.5% 98,000.00 3 [1994]36 2003 15% 4 2000-2002 3,324,980.91 2002 1,154,211.52 2001 1,057,860.21 2000 1,112,909.18 60

36 2003 70,123.84 66,107.31 136,231.15 37 2003 2,012,434.19 5,467,315.37 46,414,802.76 10,255,353.61 2,482,320.24 2,795,800.62 6,044 041.55 784,323.63 632,567.58 19,003,369.26 95,892,328.81. 1 2003.12.31 2002.12.31 (%) (%) 9,412,080.61 96.64 470,604.03 8,941,476.58 8,377,160.24 76.89 155,490.17 8,221,670.07 154,708.84 1.59 7,735.44 146,973.40 311,187.68 2.86 15,559.38 295,628.30 167,532.80 1.72 8,376.64 159,156.16 501,629.24 4.60 25,081.46 476,547.78 5,005.68 0.05 250.29 4,755.39 1,705,417.45 15.65 85,270.87 1,620,146.58 9,739,327.93 100.00 486,966.40 9,252,361.53 10,895,394.61 100.00 281,401.88 10,613,992.73 2 2003.12.31 2002.12.31 (%) (%) 1,377,795.17 94.33 68,889.75 1,308,905.42 35,760,972.03 99.83 271,747.60 35,489,224.43 21,649.24 1.48 1,082.46 20,566.78 27,611.39 0.08 1,380.57 26,230.82 1,500.00 0.10 75.00 1,425.00 24,800.00 0.07 1,240.00 23,560.00 59,664.53 4.08 2,983.23 56,681.30 6,858.00 0.02 342.90 6,515.10 1,460,608.94 100.00 73,030.44 1,387,578.50 35,820,241.42 100.00 274,711.07 35,545,530.35 61

3 (1) 2002-12-31 2003-12-31 122,006,471.02 68,386,311.11 190,392,782.13 122,006,471.02 68,386,311.11 190,392,782.13 2 2003-12-31 30 7,000.00 4,200.00 60.00% 50 500.00 450.00 90.00% 50 10,000.00 6,000.00 60.00% 300.00 270.00 90.00% 6,000.00 5,700.00 95.00% 190 584.95 73.00% 17,204.95 3 2002-12-31 2003-12-31 52,924,103.78 196,464.21 53,120,567.99 7,140,822.14 2,852,589.15 9,993,411.29 59,241,545.10 1,271,229.08 60,512,774.18 2,700,000.00-419,718.84 2,280,281.16 5,849,500.00 451,758.69 1,184,488.82-7,485,747.51 57,000,000.00-57,000,000.00 122,006,471.02 62,849,500.00 4,352,322.29 1,184,488.82 190,392,782.13 4 2003 2002 1,879,811,428.28 1,399,902,958.01 636,361.54 33,735,927.53 5,615,692.74 10,035,740.88 5,292,013.73 1,886,063,482.56 1,448,966,640.15 5 62

2003 2002 1,730,528,785.94 1,100,693,008.66 636,361.54 29,637,774.01 5,842,408.39 9,065,712.84 6,399,990.53 1,737,007,555.87 1,145,796,486.04 6 2003 2002 4,352,322.29 9,378,501.11 4,352,322.29 9,378,501.11 7 2003 2002 7,906,513.97 45,517,747.26 (1) PVC PVC (2) 63

2002-12-31 2003-12-31 101,680,000.00 101,680,000.00 5,000,000.00 5,000,000.00 70,000,000.00 70,000,000.00 100,000,000.00 100,000,000.00 3,000,000.00 3,000,000.00 15,833,270.00 15,833,270.00-60,000,000.00 60,000,000.00 3 2002-12-31 2003-12-31 % % % % 153,000,000.00 42.50% 153,000,000.00 42.50% 42,000,000.00 60.00% 42,000,000.00 60.00% 4,500,000.00 90.00% 4,500,000.00 95% 60,000,000.00 60.00% 60,000,000.00 60.00% 2,700,000.00 90.00% 2,700,000.00 90.00% 138.7 73% 138.7 73% 57,000,000.00 57,000,000.00 95% (4) 1. 1 67607 2003 12 31 26607 2 2001 7,700 2003 12 31 7,500 3 2002 60 6600 64

6000 4 2003 60% 6000 3 5 2 2003 2 3 2003 12 31 4,000 7,000 2. 1 2003 1,170,620,166.08 ( ) 61.20% 2 2003 2,004,766.60 3 2003 322,197,598.11, 3. 2003 3,132,852.17 0.14% 4. 2000 8 31 << >>, 50 CONCH CONCH 5. 2003-12-31 2002-12-31 % % 949,995.54 11.30 7,853.25 0.09 47,380.39 1.25 47,380.39 1.25 957,848.79 11.39 10,780,408.36 44.67 4,082,000.00 42.51 10,780,408.36 44.67 4,082,000.00 42.51 65

212,022.32 9.32 41,000.00 1.80 2,941,000.00 50.11 253,022.32 11.12 2,941,000.00 50.11 1,212,754.00 0.97 411,411,40 0.53 43,113.16 0.03 49,395,565.75 39.34 50,651,432.91 40.34 411,411,40 0.53 22,318.02 0.37 22,318.02 0.37 8,135,955.15 22.97 8,135,955.15 22.97 2003 12 31, 1 4 2.5 2 2003 6 9 7,358,238.24 2003 8 19 1 9.24 2003 12 31 1 10.3383 2003 12 31, 2003 66

2003 12 31, 2003 9 1 2003 9 1 4,500 12.5% 15,300 2003 2004 3 20 67