2005

2 3 4 6 7 11 13 14 57 1

: ( ) :SHANDONG XINHUA PHARMACEUTICAL COMPANY LIMITED : : :86-533-2166666 :86-533-2287508 CQCAO@XHZY.COM;GUOLEI@XHZY.COM :255005 http://www.xhzy.com xhzy@xhzy.com http://www.cninfo.com.cn H 0719 A 000756 2

( ) ( ) 2005 6 30 (2004 12 31 ( ) ) 1,219,241 1,113,741 1,045,076 951,999 2,406,771 2,298,470 1,355,626 1,340,005 2.96 2.93 2.96 2.93 2005 6 30 2004 6 30 6 ( ) 6 ( ) 871,681 802,136 15,621 27,328 12,805 23,439 0.034 0.060 1.15% 1.92% 60,602 4,918 392 294 (732) (164) (120) (2,486) (2,816) ( ) ( ) 2005 6 30 6 2004 6 30 6 ( ) ( ) 878,716 806,803 18,546 28,045 5,195 4,187 13,351 23,858 171 88 13,522 23,946 2005 6 30 ( ) 2004 12 31 ( ) 2,408,667 2,315,440 (1,021,710) (941,834) 1,386,957 1,373,606 3

2005 6 30 6 15,621 433 1,961 (216) (4,000) (277) 13,522 1 2005 6 30 2004 12 31 1 -- A 214,440,000 214,440,000 2 A 16,719,500 16,719,500 231,159,500 231,159,500 1 A 76,153,330 76,153,330 2 H 150,000,000 150,000,000 226,153,330 226,153,330 457,312,830 457,312,830 2 2005 6 30 32,010, H 90,A 31,920 4

3 2005 6 30 % 1 A 214,440,000 46.89 2 ( ) H 144,017,998 31.49 3 A 4,203,300 0.92 4 A 2,100,000 0.46 5 A 1,540,000 0.34 6 A 1,000,000 0.22 7 A 1,000,000 0.22 8 H 902,000 0.20 A/C BR-79 9 H 902,000 0.20 A/C BR-80 10 H 902,000 0.20 A/C BR-81 :a. 5% 12,865,865 A 2,100,000 A b. c. ( ) ( ) 144,017,998 H 4,203,300 A A/C BR-79 902,000 H A/C BR-80 902,000 H A/C BR-81 902,000 H A/C BR-78 704,000 H KAY AND COMPANY LTD 400,000 H CHOW KANG CHUEN 340,000 H A/C BR-77 306,000 H HOFGREN CARL GUNNAR 240,000 H 5

: 2005 6 30 2005 1 1 4,500 4,500 4,500 4,500 3,500 3,500 12,483 12,483 3,237 3,237 3,237 3,237 2,983 2,983 2,507 2,507 3,000 3,000 A, / 571 XV / XV 7 8 352 6

2005 6 30 6 2005 6 30 6, 871,681, 8.67%; 15,621, 42.84% 2005 6 30 6, 878,716, 8.91%; 13,522, 43.53% 2005 6 30 6 2005 2004 GMP,2005 15,621 13,522 1 2005 871,681, 8.67% 47,040 12.8% 2005 18.19% 18.02% 2004 16.19% 2 2 2005 11,550 61,000 20% 2005 109.5% 98% 8 5.4 60,602 3 2005 4 4 2005 7

5 2005 6 30 119.24 % 95.87 % 255.81 % = / *100% 264.73 % = / *100% 2005 6 30 33,929 650,816 2005 6 30 390,000 2005 6 30 53,602 2005 6 30 430,538 2005 3 2005 6 30 10,000 40% 6 2005 6 30 4,701 2005 41,652 2005 6 30 33,929 47.06% = / *100% 2005 6 30 6 2005 871,681 8.67% 92,605 83,302 8

154,498 7.72 15,621 42.84% 2005 6 30 2,406,771 108,301 4.71%, 2005 400,816 94,531 1,355,626 15,621 1.17% 2005 ( ) 2005 1-6 2004 1-6 618,773 505,383 520,169 419,677 123,210 105,089 103,370 87,943 78,074 69,431 126,249 112,612 51,624 33,246 52,348 37,367 871,681 713,149 802,136 657,599 (%) 515,740 419,868 18.59 153,590 93,418 39.18 194,768 190,676 2.10 7,583 9,187-21.15 871,681 713,149 18.19 % 2005 1-6 2004 2005 1-6 2004 154,498 234,801 758.53-458.20 1,097 3,068 5.39-5.99 137,202 273,869 673.62-534.43 1,185 (15,721) 5.82 30.68 215 1,099 1.06-2.14 575 (623) 2.82 1.22 20,368 (51,245) 100.00 100.00 2005 9

7 2001 9 3 3,300 A 300 370,517 2005 6 30 320,056 2005 74,500-10,123 13.59% GMP 80,000 2,348 80,227 100.28% 160,000 188,201 117.63% L-350 29,980 23,442 78.19% GMP 39,800 46,265 116.24% 384,280 2,348 348,258 1 GMP L-350 2 (GMP) 3 2005 1 2 3 4 2005 7 28 10

1. 2. 2005 3. 4. 5. 37 12 6. 7. 8. 5% 9. 10. 11. 2005 1 31 The Standard2005 1 29 A19 2004 2005 3 29 The Standard2005 3 25 54 2004 2005 4 21 The Standard 32 2005 2004 2005 5 12 The Standard 11 2005 2005 6 8 The Standard 10 2005 6 30 The Standard 30 12. [2003]56 11

[2003]56 (1) (2) 2005 63,632 25,619 35,272 2,741 (3) 12

3.21 2005 6 30 6 2005 6 30 6 3.10(1) 3.10(2), 2004, 13

( ) 01 2005 6 30 2005 6 30 2004 12 31 2005 6 30 2004 12 31 5 430,538,051.84 337,932,575.24 419,492,937.30 323,545,736.94 6 58,038,949.76 58,551,045.76 58,038,949.76 58,551,045.76 7 32,294,554.33 28,870,092.76 31,899,554.33 28,660,092.76 - - - - 1,462,500.00 1,444,444.00 1,462,500.00 1,444,444.00 8 330,580,114.59 296,192,621.26 316,650,367.97 283,943,132.74 9 114,223,068.38 77,671,056.92 117,186,540.01 108,793,599.17 10 13,426,903.19 12,825,964.23 8,680,857.55 8,957,899.72 - - - - 11 238,677,068.65 300,253,329.37 207,235,914.46 277,128,704.51 - - - - - - - - - - - - 1,219,241,210.74 1,113,741,129.54 1,160,647,621.38 1,091,024,655.60 12 73,513,102.23 64,726,261.98 127,497,231.40 77,273,887.97 12 130,075,500.00 130,075,500.00 130,075,500.00 130,075,500.00 203,588,602.23 194,801,761.98 257,572,731.40 207,349,387.97 - - - - 13 1,522,879,390.90 1,421,114,352.36 1,503,460,519.49 1,418,170,280.95 13 769,497,472.78 724,520,511.74 767,531,540.22 723,112,871.35 13 753,381,918.12 696,593,840.62 735,928,979.27 695,057,409.60 - - - - 13 753,381,918.12 696,593,840.62 735,928,979.27 695,057,409.60 14,293,547.60 14,293,547.60 14,293,547.60 14,293,547.60 14 118,091,092.40 206,870,058.53 118,091,092.40 206,870,058.53 - - - - 885,766,558.12 917,757,446.75 868,313,619.27 916,221,015.73 15 98,174,399.78 72,169,207.78 98,174,399.78 72,169,207.78 - - - - - - - - 98,174,399.78 72,169,207.78 98,174,399.78 72,169,207.78 - - - - 2,406,770,770.87 2,298,469,546.05 2,384,708,371.83 2,286,764,267.08 14

2005 6 30 2004 12 31 2005 6 30 2004 12 31 16 400,815,773.32 306,285,118.06 400,815,773.32 306,285,118.06 17 189,192,735.50 144,460,492.70 189,192,735.50 144,460,492.70 18 116,423,528.33 163,308,798.87 97,348,810.94 156,581,861.49 19 10,150,354.26 11,126,030.12 9,539,696.16 11,077,943.20 - - - - 17,258,692.63 15,297,220.79 17,258,692.63 15,297,220.79 20 5,795,230.54 6,073,630.54 5,795,230.54 6,073,630.54 21 5,012,342.79 (5,579,213.68) 6,689,831.05 (6,379,216.56) - - - - 22 45,448,609.43 57,825,185.31 45,242,594.62 57,621,504.00 23 4,978,530.14 3,201,240.13 4,978,530.14 3,201,240.13 - - - - 24 250,000,000.00 250,000,000.00 250,000,000.00 250,000,000.00 - - - - 1,045,075,796.94 951,998,502.84 1,026,861,894.90 944,219,794.35 - - - - - - - - - - - - - - - - 3,561,500.00 3,561,500.00 3,561,500.00 3,561,500.00 3,561,500.00 3,561,500.00 3,561,500.00 3,561,500.00 - - - - 1,048,637,296.94 955,560,002.84 1,030,423,394.90 947,781,294.35 2,507,657.82 2,904,738.72 - - 25 457,312,830.00 457,312,830.00 457,312,830.00 457,312,830.00 26 558,919,077.15 558,919,077.15 558,919,077.15 558,919,077.15 27 159,424,924.74 159,424,924.74 159,216,915.99 159,216,915.99 : 27 26,291,986.91 26,291,986.91 26,222,650.66 26,222,650.66 28 178,624,067.33 163,003,055.71 178,836,153.79 163,534,149.59 - - - - 1,344,916.89 1,344,916.89 - - - - - - - 1,355,625,816.11 1,340,004,804.49 1,354,284,976.93 1,338,982,972.73 2,406,770,770.87 2,298,469,546.05 2,384,708,371.83 2,286,764,267.08 15

2005 02 29 871,680,519.30 802,135,952.14 741,496,995.87 793,136,879.49 29 713,149,027.81 657,599,222.75 586,502,541.48 650,696,394.50 30 4,033,027.95 1,114,858.70 3,888,831.39 1,051,788.30 154,498,463.54 143,421,870.69 151,105,623.00 141,388,696.69 31 1,097,489.84 925,007.40 1,097,489.84 925,007.40 74,315,157.29 61,696,743.26 71,639,549.11 59,683,583.67 53,509,586.99 50,508,252.83 52,180,364.87 49,864,425.65 32 9,377,589.34 4,999,548.94 9,385,297.65 5,008,049.27 18,393,619.76 27,142,333.06 18,997,901.21 27,757,645.50 33 1,185,181.79 7,920,965.43 332,341.67 7,384,357.54 214,926.08 330,057.11 214,926.08 330,057.11 34 1,126,875.20 1,408,762.00 1,126,875.20 1,408,762.00 35 552,189.34 4,452,144.19 552,189.34 4,450,244.19 20,368,413.49 32,349,973.41 20,119,854.82 32,430,577.96 4,918,107.50 5,109,369.33 4,817,850.62 5,102,471.00 (170,705.63) (87,502.88) - - - - - - 15,621,011.62 27,328,106.96 15,302,004.20 27,328,106.96 163,003,055.71 236,903,608.28 163,534,149.59 237,111,617.03 - - - - 178,624,067.33 264,231,715.24 178,836,153.79 264,439,723.99 - - - - - - - - - - - - - - - - - - - - - - - - 178,624,067.33 264,231,715.24 178,836,153.79 264,439,723.99 - - - - - - - - - 18,292,513.20-18,292,513.20 - - - - 28 178,624,067.33 245,939,202.04 178,836,153.79 246,147,210.79 1 - - - - 2 - - - - 3 - - - - 4 - - - - 5 - - - - 6 - - - - 16

03 2005 6 30 2005 654,450,880.61 582,119,438.75 9,606,081.61 9,606,081.61 3,894,831.57 4,829,655.50 667,951,793.79 596,555,175.86 430,192,703.89 359,865,306.09 58,892,182.11 58,238,906.74 25,052,747.06 23,040,249.48 93,211,937.95 91,538,067.01 607,349,571.01 532,682,529.32 60,602,222.78 63,872,646.54 - - 3,231,944.44 3,231,944.44 747,940.00 747,940.00 - - 3,979,884.44 3,979,884.44 47,106,655.05 47,035,355.05 10,000,000.00 10,000,000.00 - - 57,106,655.05 57,035,355.05 (53,126,770.61) (53,055,470.61) - - - - 217,184,530.67 217,184,530.67 825,646.63 825,646.63 218,010,177.30 218,010,177.30 122,745,246.30 122,745,246.30 10,134,906.57 10,134,906.57 - - 132,880,152.87 132,880,152.87 85,130,024.43 85,130,024.43 - - 92,605,476.60 95,947,200.36 17

1 2005 15,621,011.62 15,302,004.20 (170,705.63) - - - 46,356,244.16 45,797,951.99 1,770,833.00 1,770,833.00 - - - - 1,777,290.01 1,777,290.01 ( ) (956,842.89) (956,842.89) - - 9,377,589.34 9,385,297.65 ( ) (1,185,181.79) (332,341.67) ( ) - - ( ) 61,576,260.72 69,892,790.05 ( ) (76,516,526.93) (82,151,780.52) ( ) 2,952,251.17 3,387,444.72 - - 60,602,222.78 63,872,646.54 2 - - - - - - 3 430,538,051.84 419,492,937.30 337,932,575.24 323,545,736.94 - - - - 92,605,476.60 95,947,200.36 18

% 2005 2004 2005 2004 2005 2004 2005 2004 11.40 10.08 11.46 10.05 0.338 0.314 0.338 0.314 1.36 1.91 1.36 1.90 0.040 0.059 0.040 0.059 1.15 1.92 1.16 1.92 0.034 0.060 0.034 0.060 0.94 1.65 0.95 1.64 0.028 0.051 0.028 0.051 19

04 2005 6 30 2004 12 31 2005 6 30 25,593,193.70-156,965.72-25,750,159.42 21,832,587.35-156,965.72-21,989,553.07 3,760,606.35 - - - 3,760,606.35 11,448,954.24 - - 1,884,980.13 9,563,974.11 - - - - - 11,448,954.24 - - 1,884,980.13 9,563,974.11 2,506,110.99 - - - 2,506,110.99 2,506,110.99 - - - 2,506,110.99 - - - - - 12,000,000.00 - - - 12,000,000.00 12,000,000.00 - - - 12,000,000.00 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 51,548,258.93-156,965.72 1,884,980.13 49,820,244.52 20

04 2005 6 30 2004 12 31 2005 6 30 25,519,509.55-156,965.72-25,676,475.27 21,758,903.20-156,965.72-21,915,868.92 3,760,606.35 - - - 3,760,606.35 11,448,954.24 - - 1,884,980.13 9,563,974.11 - - - - - 11,448,954.24 - - 1,884,980.13 9,563,974.11 2,506,110.99 - - - 2,506,110.99 2,506,110.99 - - - 2,506,110.99 - - - - - 12,000,000.00 - - - 12,000,000.00 12,000,000.00 - - - 12,000,000.00 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 51,474,574.78-156,965.72 1,884,980.13 49,746,560.37 21

(, ) 1 1993 1996 12 H 1997 7 A 1998 11 2001 9 A 3,000 300 2005 6 30 45,731 214,440 214,440 46.89% 16,720 16,720 3.66% H 150,000 150,000 32.80% A 76,153 76,153 16.65% 457,313 457,313 100% 2001 647 2 2.1 2.2 2.2.1 50% 50% 2.2.2 3 3.1 3.2 22

3.3 3.4 3.5 3.6 3.6.1 3.6.2 3.6.3 3.7 3.7.1 a. b. 3 c. 3.7.2 1 0.5% 1 2 20% 2 3 60% 3 100% 23

3.8 3.8.1 3.8.2 3.8.3 3.8.4 3.9 3.9.1 3.9.1.1 20% 20% 20% 20% 20% 20% 3.9.1.2 10 3.9.2 3.9.2.1 3.9.2.2 3.9.3 24

3.10 3.10.1 3.10.1.1 2,000 3.10.1.2 : 3.10.1.3 5 20 4.75% 10 9.5% 5 19% 5 19% 3.10.1.4 1) 2) 3) 4) 5) 6) 3.10.2 3.10.2.1 25

3.10.2.2 3.10.2.3, 1) 3 2) 3) 3.11 3.11.1 1) 2) 3) 3.11.2 3.12 3.12.1 3.12.2 10 50 5 3.12.3 : 26

1) 2) 3) 4) 3.13 3.14 3.15 3.15.1 [1994] 151 2002 15% 2004 15 33 15% 33% 3.15.2, 17% 13% 17% 3.15.3 7% 3% 3.15.4 70% 1.2% 27

12% 4 200 176 88% 50 35 70% 200 180 90% 60 36 60% 90 47.70 53% 30 16.50 55% 65 50 76.9% - 600 300 50% 4,849.89 4,752.9 98 2,500 1,000 40% 1 2003 12 1999 7,, 100,2002 9 200, 88% 12% 2 2002 10, 50 70% 25% 5% 3 2002 3 200 90% 10% 4 2001 8 60 60% 40% 2005 6 30 28

5 2002 3 90 53% 47% 6 2002 12 30 55% 45% 2005 6 30 7 2003 11 25 LIPENG 100 2005 65 76.9% 23.1% 8-2003 9 11 600 50% 9 2004 8 30 500 2005 4 4,849.89 98% 2% 1 10) 2005 6 17 2,500, 1,000 40 1,500 60 299 29

5 2005.6.30 2004.12.31 59 56 430,479 337,877 430,538 337,933 6 2005.6.30 2004.12.31 - - - - 67,603 9,564 70,000 11,449 67,603 9,564 70,000 11,449 7 2005.6.30 2004.12.31 32,295 28,870 32,295 28,870 2005 6, 8 2005.6.30 % 2004.12.31 % 313,290 88.86 1,523 277,021 87.11 1,367 18,615 5.28 6,328 22,498 7.07 6,328 13,431 3.81 6,905 10,941 3.44 6,573 7,233 2.05 7,233 7,565 2.38 7,565 352,569 100.00 21,989 318,025 100.00 21,833 5 30

9 2005.6.30 % 2004.12.31 % 103,134 87.41 400 65,051 79.88 400 5,082 4.31 106 4,982 6.12 106 7,729 6.55 1,382 9,526 11.70 1,382 2,039 1.73 1,873 1,873 2.30 1,873 117,984 100.00 3,761 81,432 100.00 3,761 10 2005.6.30 % 2004.12.31 % 13,370 99.58 12,734 99.28 6 0.04 68 0.53 51 0.38 24 0.19 - - - - 13,427 100.00 12,826 100.00 5 11 2005.6.30 2004.12.31 44,614-43,875-69,120-88,884-83,424 2,506 128,180 2,506 32,895-30,586-9,308-9,412-1,822-1,822-241,183 2,506 302,759 2,506 2005 6 30 12 2004.12.31 2005.6.30 76,725 10,304 1,516 85,513 130,076 - - 130,076 206,801 10,304 1,516 215,589 12 000 - - 12,000 194,801 10,304 1,516 203,589 31

1.23% 30,000 - - 30,000 12,000 12,000 0.25% 7,000 - - 7,000 - - 50 6% 3,200 - - 3,200 - - 13,577 - - 13,577 - - 50% 24,831-1,516-3,454 21,377 - - 40% 10,000 - - 10,000 - - - 55% 165 - -110 55 - - - 60% 360-36 -56 304 - - 89,133-1,552-3,620 85,513 12,000 12,000 2005.6.30 60 60 0 16 76 * 5% 130,000 2007 7 3,250 6,067 130,000 130,060 3,250 6,083 130,076 32

13 396,547 977,432 22,680 24,455 1,421,114 44,985 57,194 522 769 103,470 44,985 51,517- - - 96,502-1,422 75 208 1,705 441,532 1,033,204 23,127 25,016 1,522,879 186,458 503,783 16,937 17,342 724,520 6,892 37,116 1,244 1,176 46,428-1,304 75 72 1,451 193,350 539,595 18,106 18,446 769,497 210,089 473,649 5,743 7,113 696,594 248,182 493,609 5,021 6,570 753,382 14 2005.6.30 2004.12.31 206,870 118,091 206,870 118,091 14.1. 1 709 6,970 - - - 7,679 160,000 2 12,720 2,641-10,383-4,978 - - - 3 9,554 - - 6,853 2,147 554 - - - 4 GMP 74,767 6,326 80,000 7,767 - (6,674) 80,000 100% 5 16,283-16,493 - - (210) 17,000 100% 6 3,710 - - - - 3,710 5,000 70% 7 26,396 5,334 - - - 31,730 30,000 100% 8 1,404 2,018 - - - 3,422 - - 9 3,931 8,861 - - - 12,792 12,500-10 3,300 3,911 - - - 7,211 6,000-11 - 3,117 - - - 3,117 6,000-12 54,096 705 2,427 2,592-49,782 - - 206,870 39,883 98,920 27,595 2,147 118,091 - - - 33

*1 *2 27,595 *3 15 108,544 1,648 5,000 115,192 67,984 744 3,441 72,169 12,965 723 1,559 15,247 27,595 181-27,776 1,232 149 390 1,771 14,197 872 1,949 17,018 - - - - 94,347 776 3,051 98,174 13-41 1-5 3-16 2005.6.30 2004.12.31 % 33,929 21,358 366,887 284,927 5.08-5.58 400,816 306,285 17 2005.6.30 2004.12.31 189,193 144,460 189,193 144,460 5% 5% 18 2005.6.30 2004.12.31 116,424 163,309 5% 5% 19 2005.6.30 2004.12.31 10,150 11,126 1 34

5% 5% 20 2005.6.30 2004.12.31 - - A - - H - - 5,795 6,074 5,795 6,074 21 2005.6.30 2004.12.31 1,841 (538) 15%,33% (455) (10,546) 13 204 3%-5% 2,377 2,768 7% 1,019 1,186 3% 2 1,216 128 131 1.2% 87-5,012 (5,579) 22 2005.6.30 2004.12.31 45,449 57,825 5% 5% 23 2005.6.30 2004.12.31 1,186 2,000 860 1,200 1,463 1 1,470-4,979 3,201 35

24 25 2005.6.30 2004.12.31 % * 250,000 250,000 3.51 * 2005.6.30 2004.12.31 1 214,440 214,440 214,440 214,440 - - 2 16,720 16,720 3 - - 4 - - 5 - - 231,160 231,160 1 A 76,153 76,153 2 H 150,000 150,000 3 - - 4 - - 226,153 226,153 457,313 457,313 36

26 2004.12.31 2005.6.30 60,910 - - 60,910 496,851 - - 496,851 1,158 - - 1,158 558,919 - - 558,919 27 2004.12.31 2005.6.30 68,337 - - 68,337 64,797 - - 64,797 26,291 - - 26,291 159,425 - - 159,425 28 2005.6.30 2004.12.31 15,621 (55,608) 163,003 236,903 178,624 181,295 (10%) - - (5%) - - 178,624 181,295 (10%) - - - 18,292 - - 178,624 163,003 37

29 2005.1-6 2004.1-6 2005.1-6 2004.1-6 515,740 433,203 419,868 352,007 361,267 326,679 299,308 273,153 153,590 168,844 93,418 106,675 194,768 179,466 190,676 176,091 7,583 20,623 9,187 22,826 871,681 802,136 713,149 657,599 30 2005.1-6 2004.1-6 7% 2,753 736 3% 1,201 316 5% 79 63 4,033 1,115 31 2005.1-6 2004.1-6 13,241 13,092 149 9,302 9,475-173 5,938 5,954-16 5,420 5,285 135 1,155 191 964 963-963 20,334 19,237 1,097 15,685 14,760 925 38

32 2005.1-6 2004.1-6 10,545 6,827 607 839 1,797 2,873 274 204-251 3 9,378 5,000 33 2005.1-6 2004.1-6 -512 7,921 3,250 - -1,553-1,185 7,921 34 2005.1-6 2004.1-6 1,078 1,198 48 9 1 202 1,127 1,409 35 2005.1-6 2004.1-6 121 308 8 2 423 4,142 552 4,452 39

36 36.1. 2005.6.30 % 2004.12.31 % 299,287 88.40 1,450 264,698 86.59 1,293 18,615 5.50 6,328 22,498 7.36 6,328 13,431 3.97 6,905 10,941 3.58 6,573 7,233 2.13 7,233 7,565 2.47 7,565 338,566 100.00 21,916 305,702 100.00 21,759 5 36.2. 2005.6.30 % 2004.12.31 % 106,097 87.72 400 94,475 83.94 400 5,082 4.20 106 6,180 5.49 106 7,729 6.39 1,382 10,026 8.91 1,382 2,039 1.69 1,873 1,873 1.66 1,873 120,947 100.00 3,761 112,554 100.00 3,761 36.3. 2004.12.31 2005.6.30 89,274 52,652 2,429 139,497 130,076 - - 130,076 219,350 52,652 2,429 269,573 12,000 - - 12,000 207,350 52,652 2,429 257,573 40

: 1.23% 30,000 - - 30,000 12,000 12,000 0.25% 7,000 - - 7,000 - - 50 6% 3,200 - - 3,200 - - 13,577 - - 13,577 - - 50% 24,831-1,516-3,454 21,377 - - 76.9% 4,597-373 -1,957 2,640 - - 88% 1,760-12 198 1,958 - - 90% 1,800-528 -2,254-454 - - 70% 2,897 - - 2,897 - - 20 98% 47,529 23-227 47,302 - - 40% 10,000 - - 10,000 - - 147,191-2,406-7,694 139,497 12,000 12,000 41

36.4. 2005.1-6 2004.1-6 2005.1-6 2004.1-6 513,157 433,203 417,604 352,007 358,685 319,808 297,044 261,859 167,395 168,844 107,223 106,675 53,834 170,937 52,489 169,188 7,111 20,153 9,187 22,826 741,497 793,137 586,503 650,696 36.5 2005.1-6 2004.1-6 -512 7,921 3,250 - -2,406-537 332 7,384 37 37.1 37.1.1 14 109 42

37.1.2 2004.12.31 2005.06.30 29,850 - - 29,850 49,549 - - 49,549 37.1.3 2005.6.30 2004.12.31 2005.6.30 2004.12.31 214,440 214,440 46.89% 46.89% 37.1.4 37.1.4.1 16,340 19,600 * 1,725-46,256 12,591 * 1,725 37.1.4.2. - 300 43

37.2 37.2.1 2005.1-6 2004.1-6 8,714 12,100 610 520-1,590 1,800 343 420 24 210-117 - 11,398 15,050 37.2.2 2005.1-6 2004.1-6 15,134 22,050 8,734 9,640-2,710 - - 3,180 26,578 34,870 37.2.3 2005.1-6 2004.1-6 800 750 37.2.4 2003 9 25, 25,000 24 2005 6 30 25,000 44

37.2.5 11,666 25,619 - -, 37.3 2005.6.30 2004.12.31 25,619 13,953 26,499 25,044-2,538 (2,091) 6,926 6,383 (1,938) (3,021) 1,247 1,309-2,741 2,563 38 39 45

1 ( ) 2005 6 30 2004 12 31 4 3,052 3,440 4 94,347 68,551 4 757,363 700,194 4 132,385 221,164 31,603 22,893 172,136 171,833 1,190,886 1,188,075 ------------ ------------ 238,677 300,253 5 362,675 324,338 67,817 61,471-2,814 64,035 41,467 54,039 58,551-538 430,538 337,933 1,217,781 1,127,365 ------------ ------------ 2,408,667 2,315,440 8 457,313 457,313 192,928 179,406 732,603 732,603 1,382,844 1,369,322 4,113 4,284 1,386,957 1,373,606 ------------ ------------ 430 153 ------------ ------------ 6 305,616 307,769 63,007 77,627 1,841-7 400,816 306,285 7 250,000 250,000 1,021,280 941,681 ------------ ------------ 1,021,710 941,834 ------------ ------------ 2,408,667 2,315,440 196,501 185,684 1,387,387 1,373,759 46

2 2005 6 30 2004 6 30 6 6 3 878,716 806,803 (713,365) (658,943) ------------- -------------- 165,351 147,860 6,658 3,836 9 (85,383) (66,364) 9 (51,116) (44,924) 9 (4,273) (4,490) ------------- -------------- 31,237 35,918 (11,175) (7,873) (1,516) - ------------- -------------- 18,546 28,045 10 (5,195) (4,187) ------------- -------------- 13,351 23,858 ============= ============== : (171) (88) 13,522 23,946 ------------- -------------- 13,351 23,858 ============= ============== - 11 0.0296 0.0524 ============= ============== 12 - - ============= ============== 47

3 2004 1 1 457,313 732,603 250,184-1,440,100 - - - 3,970 3,970 2004 1 1 457,313 732,603 250,184 3,970 1,444,070 ( ) ------------ ------------ ------------ ------------ ------------ 2003 - - (18,293) - (18,293) - (1,497) - - (1,497) /( ) - - 23,946 (88) 23,858 2004 6 30 457,313 731,106 255,837 3,882 1,448,138 2005 1 1 457,313 732,603 179,406-1,369,322 - - - 4,284 4,284 2005 1 1 457,313 732,603 179,406 4,284 1,373,606 ( ) ------------ ------------ ------------ ------------ ------------ /( ) - - 13,522 (171) 13,351 2005 6 30 457,313 732,603 192,928 4,113 1,386,957 4 2005 2004 6 30 6 6 30 6 /( ) 55,884 (21,895) (57,810) (123,450) 94,531 228,647 92,605 83,302 337,933 413,986 430,538 497,288 430,538 497,288 48

49 1 34 ( ) 2005 12 31 2 2 2005 1 2 7 8 10 12 14 16 17 18 19 20 21 23 24 27 28 31 32 33 36 37 38 39 15 3

2. ( ) 1 2 7 8 10 12 14 16 18 19 20 21 23 24 27 28 31 33 36 37 38 15 3. : - 1-2 7 8 10 12 14 16 18 19 20 21 23 24 27 28 31 33 36 37 38 15 3-24 17, 17 32 39 17 32 39 2005 6 30 6 2004 6 30 6 17 32 39 17 32 39-4,000 4,000 - - - - (4,000) (4,000) - - - 50

2. ( ) 17 32 39 : 2005 6 30 2004 12 31 17 32 39 17 32 39 - (4,000) (4,000) - - - (94,347) - (94,347) (68,551) - (68,551) 94,347 94,347-68,551-68,551 - (4,000) (4,000) - - - 3 (i) 2005 6 30 6 2004 6 30 6 875,466 3,250 878,716 806,803-806,803 28,499 2,738 31,237 34,466 1,452 35,918 (11,175) (7,873) (1,516) - 18,546 28,045 (5,195) (4,187) 13,351 23,858 42,316-42,316 95,118-95,118 46,644-46,644 43,227-43,227 388-388 401-401 51

3 ( ) 2005 6 30 2004 12 31 2,119,286 257,778 2,377,064 2,056,952 235,057 2,292,009 31,603-31,603 22,893-22,893 - - - - - 538 2,408,667 2,315,440 (1,019,439) - (1,019,439) (941,681) - (941,681) - - (2,271) - - (153) (1,021,710) (941,834) (ii) 2005 2004 2005 2004 6 30 6 6 30 6 6 30 6 6 30 6 ( ) 625,808 524,836 119,320 107,651 123,210 103,370 18,121 13,637 78,074 126,249 8,643 15,427 51,624 52,348 18,378 14,981 878,716 806,803 164,462 151,696 (133,225) (115,778) 31,237 35,918 52

4 ( ) 2005 6 30 68,551 3,440 700,194 221,164 993,349 - - 2,433 39,883 42,316 - - (254) - (254) (128,662) - 27,028-101,634 / (1,232) (388) (46,644) - (48,264) 94,347 3,052 757,363 132,385 987,147 5 2005 6 30 2005 2004 6 30 12 31 343,862 303,801 12,287 16,170 6,526 4,367 362,675 324,338 6 2005 6 30 2005 2004 6 30 12 31 300,516 302,789 1,208 855 1,045 579 2,847 3,546 305,616 307,769 53

7 2005 6 30 2005 2004 6 30 12 31 650,816 556,285 8 2005 2004 6 30 12 31 307,312,830 (2004 307,312,830 ) A 1.00 307,313 307,313 150,000,000 (2004 150,000,000 ) H 1.00 150,000 150,000 457,313 457,313 307,312,830 (2004 307,312,830 ) A 1.00 214,440 214,440 16,720 16,720 76,153 76,153 307,313 307,313 9 150,000,000 (2004 150,000,000 ) H 1.00 150,000 150,000 457,313 457,313 /( ) : 54

2005 6 30 2004 6 30 6 6 46,644 43,227 388 401 ( ) 41,652 41,483 8,982 10,044 (824) (890) 10 2005 6 30 2004 6 30 6 6 4,918 5,109 277 (922) 5,195 4,187 (a) [1994] 151 2002 15% 2004 15 33 (b) 2005 6 30 6 ( 2004 6 30 6 : ) : 2005 6 30 2004 6 30 6 6 18,546 28,045 33% (2004 : 33%) 6,120 9,255 (1,944) (5,048) - (20) 1,019-5,195 4,187 55

11 13,522 2004 : 23,946 457 312 830 2004 457,312,830 2004 2005 6 30 2 12 2005 6 30 6 2004 13 2005 6 30 2005 2004 6 30 12 31 25,552 30,345 28,050 101,500 53,602 131,845 14 2005 2004 6 30 6 6 30 6-11,398 15,050-26,578 34,870-800 750 - - 6,212 56

11,666,000 (2004 : ) 2005 6 30 25,619,000 (2004 : 3,340,000 ) 15 2005 6 30 6 16 1 2 2005 7 28 57