TMT...1 TMT TMT...4 TMT...5 TMT PC TFT-LCD...17 PCB

27-12-12 TMT 8627 6579956 chenzj@cjsc.com.cn maxw@cjsc.com.cn hezy@cjsc.com.cn lixing@cjsc.com.cn 28 TMT TMT 61 TMT 27 661 TMT 997 66 TMT 252 TMT 725 *ST A 662 216 5 A 3C 3C Computer 823 Vista 28 6183 PC DTV 2134 637 917 28 6832 TFT-LCD 688 65 PCB 63 6498 12 35.% 3.% 25.% 2.% 15.% 1.% 5.%.% -5.% 6-11 6-12 7-1 7-2 7-3 7-4 7-5 7-6 7-7 7-8 7-9 7-1 7-11 WIND 27 TMT TFT-LCD TMT 28 28

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46 PCB...26 47...26 48 PCB...26 49 25 PCB...27 5 26 PCB...27 51 CCL...27 52...28 53 4...3 54 PCB BB Ratio...31 55...33 56...33 57...34 58...4 59...4 6 FTTH...44 61 27-211 3G...44 62 27...45 63...45 64:...46 65 SG&A H...46 66...47 67...47 1 FTTH ADSL...7 2...12 3 A FOB...17 4...19 5 1999-21...21 6 PCB...25 7...32 8...35 9...35 1 ( 26 11 24 )...35 11 26...37 12...37 13...38 14...42 15...47 3

TMT TMT TMT TMT TMT TMT TMT 1 TMT 3C PC NB DTV MP 1 TMT PC NB DTV MP TMT TMT 8 3C 3C Computer Vista 8 PC DTV 28 1

TFT-LCD PCB 28 28 TMT 28 28 27 11 FTTH TMT TMT 3 1 TMT 2 TMT 3 TMT TMT TMT GDP 23 1 GDP 1.4-.3 2 197.4 2

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9 1G 2G 3G B3G 82.3 82.11 82.16 82.2 IP v 6 FTTH 1 ADSL FTTH 15 FTTH 1 FTTH ADSL ADSL FTTH 5 2 4Mbps : 1Mbps TMT TMT TMT TMT TMT PC DTV 7

28 Vista PC PC 28 PC 28 Windows Vista PC 28 PC Windows Vista 28 PC 27 Vista PC Vista Vista SP1 Intel AMD Vista Vista Vista PC 28 1 PC CPU SIMM ST-56/412 16 CRT SDRAM ESDI 32 CRT Rambus DRAM IDE 64 LCD DDR ATA LCD DDR2 ATA 8

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2 28 21 215 26 1266 25 3 28 29 5.16 24 341% 4% 18 8% 6% 4% 2% % 74% 71% 53% 49% 48% 41% 3% 2% 4% CCBN 27 19 1 8 6 4 2 16 439 314% 1266 188% 2 58% 38 9% 6 58% 9 5% 4 5 6 7 8 9 1 ( ) 4% 3% 2% 1% % 4 12

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27 28 29 EPS.14.19.24 8 PC 1.27% 12 1% 27 2 3% 27 28.26.38 VIP POS 27 28 29 EPS.22.41.76 14

28 5 27 28 29 EPS.56.74 1.1 PCB IC TMT TMT 28 TFT-LCD PCB PCB 1 3 2.96 1 1 8 1.8 1 2 21 PCB 1.3 1.2 1.1 1.9 1999 1 1999 7 2 1 2 7 21 1 21 7 22 1 22 7 23 1 23 7 24 1 24 7 25 1 25 7 26 1 26 7 27 1 27 7.8.7 IPC, 15

22 Fab 23 95 9 85 8 3Q 4 4Q 4 1Q 5 2Q 5 3Q 5 4Q 5 1Q 6 Fab 2Q 6 3Q 6 4Q 6 1Q 7 2Q 7 25 2 15 1 5-5 1.6 1.4 1.2 1..8.6.4.2. Feb- SICAS, SEMI, Sep- Apr-1 Nov-1 Jun-2 Jan-3 Aug-3 Mar-4 Oct-4 May-5 Dec-5 Jul-6 Feb-7 Sep-7(p) PCB PCB 24 23.1-27.8 PCB 25 23.1-27.8 8 12 8 7 7 6 5 4 3 2 1 3-1 4-1 4-4 4-7 4-1 5-1 5-4 5-7 5-1 6-1 6-4 6-7 6-1 7-1 7-4 7-7 1 8 6 4 2-2 7 6 5 4 3 2 1-1 -2 3-1 4-1 4-4 4-7 4-1 5-1 5-4 5-7 5-1 6-1 6-4 6-7 6-1 7-1 7-4 7-7 26 23.1-27.8 27 23.1-27.8 6 5 4 3 2 1-1 9 8 7 6 5 4 3 2 1-1 -2 3-1 4-1 4-4 4-7 4-1 5-1 5-4 5-7 5-1 6-1 6-4 6-7 6-1 7-1 7-4 7-7 4 35 3 25 2 15 1 5-5 -1-15 1 9 8 7 6 5 4 3 2 1 3-1 4-1 4-4 4-7 4-1 5-1 5-4 5-7 5-1 6-1 6-4 6-7 6-1 7-1 7-4 7-7 1 8 6 4 2-2 -4-6 -8-1 28 23.1-27.8 29 23.1-27.8 16

7 6 5 4 3 2 1-1 -2 3-1 4-1 4-4 4-7 4-1 5-1 5-4 5-7 5-1 6-1 6-4 6-7 6-1 7-1 7-4 7-7 45 4 35 3 25 2 15 1 5-5 7 6 5 4 3 2 1-1 -2-3 -4 3-1 4-1 4-4 4-7 4-1 5-1 5-4 5-7 5-1 6-1 6-4 6-7 6-1 7-1 7-4 7-7 15 1 5-5 -1-15 -2 WIND, TFT-LCD TFT-LCD, DisplaySearch 26 TFT-LCD 3 A, A 3% 3 A FOB 17" SXGA High $132 $134 $137 $139 $139 Typical $127 $131 $134 $137 $137 Low $124 $127 $13 $134 $134 19"W WXGA+ High $139 $14 $142 $143 $143 Typical $133 $135 $138 $139 $139 Low $129 $13 $132 $134 $134 19" TN SXGA High $152 $155 $161 $163 $164 DisplaySearch, Typical $147 $151 $156 $159 $159 Low $144 $147 $152 $156 $156 TFT-LCD TFT-LCD (NB) (MT) TFT-LCD TFT-LCD CRT TFT-LCD CSTN-LCD 17

3 NB MT 35 3 25 2 15 1 5 35% 3% 25% 2% 15% 1% 5% % 2 21 22 23 24 25 26 27 28 29 21 NB MT NB MT -5% DisplaySearch, 31 14 12 1 8 6 4 2 24 25 26 27 28 29 21 MD-RPTV RP_CRT PDP LCD CRT DisplaySearch, 32 TFT-LCD 18 16 14 12 1 8 6 4 2 24 25 26 27 28 29 21 7% 6% 5% 4% 3% 2% 1% % TFT-LCD CSTN-LCD MSTN-LCD AM-OLED PM-OLED TFT-LCD DisplaySearch 18

TFT-LCD DisplaySearch 28 28% TFT_LCD 5.5 32 37 6 32 37 42 7 32 4 46 4 mm 5 12 13 17 19 22 27 5.5 13 15( ) 32 37 6 15 185 LPL 32 37 42 15 18 32 37 7 187 22 32 4 46 7.5 195 225 37 42 47 216 24 46 52 8 22 25 S-LCD 4 46 52 1 288 38 42 46 57 65 DisplaySearch, 7 46 6 42 6 32 37 4 19

33 TFT-LCD 4 5G 5G 5.5G 6G 12 W 14.1 W 15 17 W 19 W 22 W 32 W 37 W 4 W 4.5G 5G 5.5G 6G 7G 12 W 14.1 W 15 17 W 19 W 22 W 32 W 37 W 4 W 42 W 46 W 34 TFT-LCD TV.4.35.3.25.2.15.1.5 1" - 14" 15" - 19" 2" - 21" 22" - 24" 25" - 29" 3" - 34" 35" - 39" 4" - 44" 45" - 49" 5" - 54" 55" - 59" 6"+ 25 26 27 28 29 21 211 DisplaySearch, 6-7 1 211 3-34 4-44 TFT-LCD PDP 5-52 PDP 2

35 PDP LCD TV DisplaySearch, 1 6-1 DisplaySearch 28 28 5 1999-21 1999 2 21 22 23 24 25 26 27 28 29 21 1 % % % % % % % % % 14% 26% 35% 8 % % % % % % % 9% 42% 3% 27% 46% 7 % % % % % 13% 21% 38% 23% 23% 7% % 6 % % % % 11% 24% 31% 13% 17% 13% 24% 12% 5.5 % % % % % 4% 13% % 1% % % % 5 % % 11% 45% 59% 36% 25% 28% 1% 19% 4% % 4 % 11% 1% 16% 27% 19% 7% 9% 12% % 12% 7% 3.5 4% 41% 32% 12% % 1% 1% % 1% % 1% % 3.25 56% 26% 18% 25% 1% 3% 1% 2% 2% 1% % % 3andless 41% 23% 29% 2% 2% % 2% 1% 2% % % % DisplaySearch, 27 21

8% 7% DisplaySearch 28 2% 36 TFT-LCD 1 9 8 7 6 5 4 3 2 1 24 25 26 27 28 29 21 82% 8% 78% 76% 74% 72% 7% 68% 66% ( + )/ DisplaySearch, 18 6 1993-1994 1995-1996 24 37 OLED TFT-LCD 1 8 XEL-1 OLED OLED 11 3 12 OLED 29 22

OLED OLED 2 TFT-LCD TFT-LCD OLED TFT-LCD 1 27 6 OLED 28 DisplaySearch 28 4 28 27 1 DisplaySearch 28 28 25 38 TFT-LCD DisplaySearch, 39 DisplaySearch TFT-LCD DisplaySearch, TFT-LCD 23

TFT-LCD 6% 4 TFT-LCD DisplaySearch, 43 25 3 TWSE 19.5 16.4 26 4 27 1 27 2 3 41 4 35 3 25 2 15 1 5 5 3 5 5 5 7 5 9 5 11 6 1 6 3 6 5 6 7 6 9 6 11 7 1 7 3 7 5 7 7 7 9 TWSE Bloomberg, 5 24

42 43 5 5 4 3 5% 4% 2 3% 1-1 -2-3 -4-5 2 1 2 5 2 9 3 1 3 5 3 9 4 1 4 5 4 9 5 1 5 5 5 9 6 1 6 5 6 9 7 1 7 5 7 9 2% 1% % -1% 2 12 3 4 3 8 3 12 4 4 4 8 4 12 5 4 5 8 5 12 6 4 6 8 6 12 7 4 7 8 (869.TW) (39.TW) (249.TW) (2475.TW) (869.TW) (249.TW) (2475.TW) (39.TW) WIND, 27 2 A A PCB PCB PCB CCL PCB PCB 7% CCL 5% 7% PCB PCB PCB PCB 6 PCB 1 2 4 6 6 8 8 1 1 HDI DT DT NB NB NB MB DC DC DC PC PC IC PC PDA 28 Vista PC PCB PCB 28 29 PCB CCL 25

1% 44 PCB 45 CCL 7 65 6 55 5 45 4 Mn $ 25 26 27 28 29 2% 18% 16% 14% 12% 1% 8% 6% 4% 2% % 16% 14% 12% 1% 8% 6% 4% 2% % 6 5 4 3 2 1 23 24 25 26 27e 28e N.T. Information, Prismark, PCB PCB HDI 27 28 HDI 12 14 IC 17 HDI 46 PCB 4 35 3 25 2 15 1 5 25 26 27E 28E HDI FPC IC Prismark, PCB PCB 5 1 PCB 27 29 PCB 2% PCB 29 3 47 48 PCB 6 5 4 / 25% 2% 15% 3 2 1 1% 5% % -5% 25 26 27E 28E 29E 25 26-1% ILO, Prismark, 26

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24 26 CCL 27 28 CCL CCL 3 6 CCL PCB TFT-LCD TFT-LCD 27 4 3.5 TFT-LCD 5 5 A TFT-LCD 52 25 2 15 1 5-5 -1 3 1Q 3 2Q 3 3Q 3 4Q 4 1Q 4 2Q 4 3Q 4 4Q 5 1Q 5 2Q *ST A 5 3Q 5 4Q 6 1Q 6 2Q 6 3Q 6 4Q 7 1Q 7 2Q 3 ( 1 =7.56, 22.68 ),,, 28

IC 29 5% 4.5 29 27 21 TFT-LCD 2 27 28 29 EPS.32.55.77 28 3 29.7 28 25 28 35 19.25 5 5 14% 5 5 5 28 2% 28 5 5% 27-29 EPS.27.63.64 5% 4% ITO CF LCD CF IPO TFT-LCD TFT-LCD 3 TFT-LCD 3 (TFT-Array), TFT-LCD, 3 28 29

27 28 29 27 29 EPS.864.959 1.233 28 4 38.37 A TFT-LCD 4.5 9 28 7 TFT-LCD 1 TN-LCD STN-LCD TN/STN-LCD TN/STN-LCD 4.5 28 29 27-29 EPS.261.33.49 28 45 29 33 4.5 6 HDI 2 HDI 4 HDI 1 26 6 HDI HDI 28 32 HDI 1 53 4 4,5 4, 3,5 3, 2,5 2, 1,5 1, 5-5 -1, 4 1Q 4 2Q 4 3Q 4 4Q 5 1Q 5 2Q 5 3Q 5 4Q 6 1Q 6 2Q 6 3Q 6 4Q 7 1Q 7 2Q ( ) 7 3Q 7, 6, 5, 4, 3, 2, 1, HDI HDI PCB Prismark 27 28 HDI 12 HDI HDI 3

CCL CCL CCL CCL 28 1 1 7.12 6 27 29 EPS.276.485.542 28 2 28 3 14.55 PCB 26 1997-26, 18.8%, 22.1%, 23.8% 26 5 4% 8% 26 7 PCB BB Ratio 54 PCB BB Ratio 1.2 4% 1.15 3% 1.1 2% 1.5 1% 1. %.95-1%.9-2%.85-3%.8 Sep- 2 Mar- 3 Sep- 3 Mar- 4 Sep- 4 Mar- 5 Sep- 5 Mar- 6 Sep- 6 Mar- 7-4% Sep- 7 PCB BB Ratio IPC 27-29 EPS.484.648.714 28 21 28 3-35 19.44 22.68 28 EPS 2 31

2 IPO IPO 18 HDI 27-29 EPS.311.432.545 15.1 27 27 Q1~Q3 5.75% 26 3.49% 27Q1~3 375 16.8% 27 8 9 7 24A 25A 26A 27.5 27.9 43.% 44.44% 47.26% 49.87% 5.75% 31.24% 29.91% 27.29% 25.53% 24.82% 19.24% 18.41% 17.42% 16.69% 16.46% 6.23% 7.8% 7.92% 7.84% 7.89%.29%.17%.1%.8%.8% 32

55 16 14 12 1 8 6 4 2-2 Jan-4 Jul-4 Jan-5 Jul-5 Jan-6 Jul-6 Jan-7 Jul-7-4 ( ) ( ) ( ) 56 4 375.2 2% 35 3 25 2 15 212.3 256.6 184.6 282.7 1.2% 5.4% 164. 321.3 13.7% 1.3% 154.1 16.8% -.3% 15% 1% 5% % 1-6.% -5% 5 21. 22.1 22.4-11.2% 22.4-13.% 24Q1~3 25Q1~3 26Q1~3 27Q1~3-1% -15% / / ( / / ) ( / / ) % % 27H1 48.5% 2.7% 62.9% 2.8% 33

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28 A 28 CDMA MOU GSM MOU GSM CDMA ARPU 28 SKT 27 GSM GPRS 27 29 EPS.224.278.335 IPO 26 36

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2.28 28 3. 26 12 12 43 488721.6 1136 / 14 28 27 11 8 28 CCTV-2 CCTV-3 15% CCTV-4 CCTV- CCTV-12 2% CCTV-1 4% 28 36 1 7 Liberty Global,Inc. PRC VenturePartners LLC 28 27 8 VOD 39

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22 13 5 4315 8 TEL (8621)63217917 FAX (8621)331373 E-mail yangjf@cjsc.com.cn ( ) TEL (8621)63516121 FAX (8621)516292 E-mail guihm@cjsc.com.cn 12 /, 12 /, 1% 5% 1% -5% 5% -5% http:// www.cjsc.com.cn