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( ) : GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD. GED ( ) 000539 200539 ( ) 498 10 2 23 25 26 http://www.ged.com.cn ged@ged.com.cn ( ) ( ) (020)87570276 lixq@ged.com.cn 020 87570251 liuw@ged.com.cn 020 85138084 2 26 510630 ( ) http://www.cninfo.com.cn 3

( ) 4,003,521,229.21 4,092,012,300.44-2.16% 1,456,716,854.63 1,308,856,150.67 11.30% 12,851,970,204.84 12,486,903,532.16 2.92% 7,816,106,723.79 7,885,886,882.32-0.88% 2.94 2.97-0.89% 2.94 2.96-0.88% 1-6 595,070,841.47 585,091,059.01 1.71% 595,744,617.79 585,250,892.79 1.79% 0.22 0.22 1.73% 0.22 -- -- 7.61% 8.11% 0.5 779,434,900.16 769,595,589.36 1.28% -673,766.32 275,986.31 1007,578.63 57,816.00-673,776.32 ( ) % 1,200,452,039.09 15.36 14.67 0.4514 0.4514 1,049,087,142.64 13.42 12.82 0.3945 0.3945 595,070,841.47 7.61 7.27 0.2238 0.2238 595,744,617.79 7.62 7.28 0.2240 0.2240 4

( ) 59,507.08 59,515.78 712.34-486.37-183.01-34.26 ( ) ( ) 2004 6 30 A 68,533 B 47,674, 116,207 ( ) ( ) (%) 0 1,333,800,000 50.15 0 0 87,750,000 3.30 0 0 85,082,400 3.20 0 0 43,875,000 1.65 0 18,337,323 0.69 17,855,298 0.67 TEMPLETON FUND INC WORLD CMBLSA RE FTIF TEMPLETON ASIAN 16,090,315 0.61 14,833,255 0.56 GRW FD GTI 5496 13,336,788 0.50 TOYO SECURITIES ASIA LIMITED-A/C CLIENT 11,629,917 0.44 5

( ) ( ) A B H 18,337,323 A 17,855,298 A TEMPLETON WORLD FUND INC 16,090,315 B CMBLSA RE FTIF TEMPLETON ASIAN GRW FD GTI 5496 14,833,255 B 13,336,788 B TOYO SECURITIES ASIA LIMITED-A/C CLIENT 11,629,917 B 11,019,341 A TEMPLETON EMERGING MARKETS INVESTMENT TRUST 9,722,765 B MERRILL LYNCH INTERNATIONAL 8,955,805 B BONY A/C MIF-MATTHEWS DRAGON CENTURY CHINA FUND 8,471,726 B SUMITOMO USA/NEW CHINA MOTHER FUND 7,195,000 B ( ) ( ) ( ) 2004 20.65% 105.12 98.28 22.12% 22.82% 48.85% [2003]124 2004 1 1 0.007 34.21 26.25% 20% 5.95 6

( ) 2004 1-6 2003 1-6 (%) 342,087.48 270,957.03 26.25 220,218.87 156,025.28 41.14 120,035.76 113,456.18 5.81 59,507.08 58,509.11 1.71-105905.06-22,027.88 480.78 1 2 3 26.25% 4 ( ) 1 2004 6 30 3,150.5MW 105.12 98.28 22.12% 22.82% 2004 (%) 342,087.48 220,218.87 35.62 26.25 41.14 0.00 0.00 -- 0.00 0.00 0.00 5.52 A 41.28 38.60 7

7.75% 7.91% 49.96% 76% 38.04 36.04 10.26% 10.69% 46.21% 58% 10.44 9.57 58.66% 59.50% 60.63% 65% #10 9.27 8.46 56.32% 58.13% 45.71% 51% #5 6.09 5.61 1502.63% 1550.00% 47.85% 2004 6 30 34.21 10.42 5.95 1.71% 2 3 4 10% 5 1 0.7 / 2 2004 215.17 6800 3 ( ) 1 2 #11 3900 152.17% #6 9248 67.92% LNG 10261 49.58% LNG 2715 16.677% 18373 62.69% 10593 200.21% 8

8400 22.94% 2562 36.86% A #1-#4 2459 24.59% ( ) 1, 2 #5 #11 LNG 3 ( ) [2003]56 ( ) 2003 2004 5 18 2003 2004 6 23 2004 6 24 6 24 A 6 28 B 2003 6 17 http://www.cninfo.com.cn ( ) ( ) ( ) [ ] ( ) 9

1 50% LNG 12700 LNG 4917.12 2562 3744.68 31671.70 2 [2003]56 2002 2006 8 2004 6 30 4.12 3 [2003]56 50% 50% ( ) 1 51% 5 2036 0.005 / 2003 12 30 2004 4 13 2003 1298.60 2 3 [ ] ( ) 2003 2004 2004 2 11 2 18 10

http://www.cninfo.com.cn ( ) ( ) 11

2004 6 30 2003 12 31 2004 6 30 2003 12 31 2004 6 30 1 2,509,499,078.70 1,450,448,506.99 1,042,105,587.05 536,931,567.06 2 823,187,068.72 1,256,935,996.66 278,634,621.80 249,041,443.41 4 236,217,256.53 389,600,365.81 182,282,640.80 181,644,498.00 3 286,999,058.29 662,303,976.07 430,170,673.92 617,259,627.35 5 234,610,240.04 243,400,111.76 108,676,301.49 130,137,119.80 6 1,499,598.16 832,271.92 4,092,012,300.44 4,003,521,229.21 2,041,869,825.06 1,715,014,255.62 7 184,921,679.41 429,066,790.58 4,329,814,430.98 4,844,304,063.63 76,115,494.06 112,737,294.06 76,115,494.06 112,737,294.06 261,037,173.47 541,804,084.64 4,405,929,925.04 4,957,041,357.69 8 11,678,420,103.96 11,729,156,230.79 3,820,183,361.64 3,867,074,372.26 4,593,885,044.98 4,920,530,166.40 2,152,828,186.99 2,237,911,574.76 7,084,535,058.98 6,808,626,064.39 1,667,355,174.65 1,629,162,797.50 7,084,535,058.98 6,808,626,064.39 1,667,355,174.65 1,629,162,797.50 9 129,974,883.13 293,526,757.00 10 452,630,341.27 755,714,175.02 83,142,502.11 75,951,421.71 4,074,303.27 2,308,774.21 7,667,140,283.38 7,861,941,299.68 1,750,497,676.76 1,707,422,993.42 11 466,713,774.87 444,703,591.31 135,672,708.21 133,933,314.51 466,713,774.87 444,703,591.31 135,672,708.21 133,933,314.51 12,486,903,532.16 12,851,970,204.84 8,333,970,135.07 8,513,411,921.24 12

2004 6 30 2003 12 31 2004 6 30 2003 12 31 2004 6 30 200,000,000.00 12 417,278,097.70 656,062,623.45 234,748,049.54 310,582,076.80 13 45,317,546.54 53,822,991.03 37,720,474.39 37,720,474.39 11,367,805.35 12,196,993.65 2,216,358.41 1,042,515.79 14 613,548.00 37,363,660.15 613,548.00 760,734.21 15 283,059,364.20 261,678,288.15 105,929,138.12 78,407,238.04 2,173,206.58 1,971,817.22-138,665.03-138,665.03 16 264,957,510.30 186,788,160.98 66,994,349.32 68,930,823.25 17 729,072.00 652,320.00 283,360,000.00 246,180,000.00 1,308,856,150.67 1,456,716,854.63 448,083,252.75 697,305,197.45 18 1,473,780,000.00 1,628,780,000.00 : 1,473,780,000.00 1,628,780,000.00 2,782,636,150.67 3,085,496,854.63 448,083,252.75 697,305,197.45 1,818,380,499.17 1,950,366,626.42 19 2,659,404,000.00 2,659,404,000.00 2,659,404,000.00 2,659,404,000.00 20 1,383,187,147.66 1,383,187,147.66 1,383,187,147.66 1,383,187,147.66 21 2,892,647,283.03 2,892,647,283.03 2,892,647,283.03 2,892,647,283.03 259,384,837.89 259,384,837.89 259,384,837.89 259,384,837.89 22 950,648,451.63 880,868,293.10 950,648,451.63 880,868,293.10 7,885,886,882.32 7,816,106,723.79 7,885,886,882.32 7,816,106,723.79 12,486,903,532.16 12,851,970,204.84 8,333,970,135.07 8,513,411,921.24 13

2004 6 30 23 2,709,570,266.74 3,420,874,827.66 1,137,418,769.07 1,250,588,130.06 1,560,252,835.52 2,202,188,703.38 649,246,229.49 835,566,754.76 24 14,755,646.14 18,328,562.75 1,134,561,785.08 1,200,357,561.53 488,172,539.58 415,021,375.30 25 386,351.96 687,323.46 229,358.35 640,099.43 141,602,272.95 127,505,548.28 59,263,744.05 62,928,334.18 26 32,977,083.35 24,452,194.07-6,191,320.28-7,547,773.54 960,368,780.74 1,049,087,142.64 435,329,474.16 360,280,914.09 27-3,670,388.46-5,840,819.01 266,570,546.32 331,004,897.87 28 840,825.38 386,326.33 484,314.00 261,194.49 29 1,279,628.97 1,323,110.60 841,859.65 968,242.20 956,259,588.69 1,042,309,539.36 701,542,474.83 690,578,764.25 282,301,275.21 294,383,699.64 116,451,415.82 95,507,922.78 88,867,254.47 152,854,998.25 585,091,059.01 595,070,841.47 585,091,059.01 595,070,841.47 197,499,194.83 950,648,451.63 197,499,194.83 950,648,451.63 782,590,253.84 1,545,719,293.10 782,590,253.84 1,545,719,293.10 782,590,253.84 1,545,719,293.10 782,590,253.84 1,545,719,293.10 664,851,000.00 664,851,000.00 782,590,253.84 880,868,293.10 782,590,253.84 880,868,293.10 : 1. 2. 3. 4. 5. 6. 14

2004 6 30, 3,571,805,634.00 1,494,435,634.00 300,529.14 300,529.14 78,201,671.24 45,633,193.34 3,650,307,834.38 1,540,369,356.48, 1,885,925,777.23 727,922,884.18 141,355,969.33 94,901,444.15 750,864,140.16 274,932,044.23 92,727,047.55 24,279,407.99 2,870,872,934.27 1,122,035,780.55 779,434,900.11 418,333,575.93 825,000.00 825,000.00 677,278.99 275,176,474.38, 300.00 300.00 1,502,578.99 276,001,774.38, 567,662,559.15 74,725,232.01 620,562,808.72 659,562,808.72 6,208,258.13 659,220.29 1,194,433,626.00 734,947,261.02-1,192,931,047.01-458,945,486.64 - - 18,000,000.00 155,000,000.00 200,000,000.00-125,530.91 153,968.63 172,874,469.09 200,153,968.63 37,180,000.00 781,236,629.78 664,703,813.79 12,270.18 12,270.18 818,428,899.96 664,716,083.97-645,554,430.87-464,562,115.34 6.06 6.06-1,059,050,571.71-505,174,019.99 15

- - 1. - - 595,070,841.47 595,070,841.47 : 94,408.89-143,066.20 351,506,701.61 105,890,564.56 21,865,033.31 1,739,393.70 128,621.36-76,752.00 33,047,845.75-7,547,773.54 ( : ) 5,840,819.01-331,004,897.87 ( : ) ( : ) -8,789,871.72-21,460,818.31 ( : ) -637,798,100.05-156,714,566.04 ( : ) 160,506,242.53 59,885,612.23 152,854,998.25 105,184,111.70 172,618,285.93 779,434,900.16 418,333,575.93 2. 3. 1,450,448,506.99 536,931,567.06 2,509,499,078.70 1,042,105,587.05 : : -1,059,050,571.71-505,174,019.99 16

2004 1 1 2004 6 30 4,666,251.47 2,291,329.72 211,842.58 6,745,738.61 4,136,618.44 2,179,642.86-6,316,261.30 529,633.03 111,686.86 211,842.58 429,477.31 372,247.20-372,247.20 17

2004 06 30 1992 9 8 [1992]20 [1992]54 ( ) 1992 11 3 356,250,000.00 [1993]009 A [1993]35 1993 A 44,000,000 1.00 [1995]13 B [1995]23 B 1995 B 105,000,000 1.00 108,250,000 B 2000 1 [2000]251 2001 A 84,000,000 18

1.00 1994 1993 10 2 6 1997 1996 10 2 1998 1997 10 3 2000 10 2 8 2003 12 31 2,659,404,000.00 [1995] 626 1995 11 10 498 10 26 1 2 3 19

4 5 1 6 7 8 1 0.5% 1-2 1% 2 2% 20

10%-100% 3 9 10 20% 20% 20% 20% 10 21

11 12 2,000.00 0%-3% % 10-35 2.86-10.00 22-50 2.00-4.55 8-20 4.85-12.13 8-15 6.67-12.13 5-22 4.55-20.00 13 22

23 3 14 3 15 10

16 17 18 19 20 24

96 2 1 17% 5% 7.5%-33% 2 010457 1996 2 24% 2 3 1996 2 1997 12 1998 1 2000 12 12% 2001 1 24% 3% [1997]185 [1998]045 15% 1998 2 3 1998 1999 2000 2001 2002 2003 15% 25

( ) 33% 1995.11 287,544.00 218,533.44 76% 1996.1 120,000.00 B 69,600.00 58% 2 12.5 1997.9 45,000.00 #10 29,250.00 65% 2001.1 21,715.75 11,075.03 51% 2004 2003 2004 1 2004 06 30 2003 12 31 35,510.86 54,550.62 1,450,412,996.13 2,509,444,528.08 - - 1,450,448,506.99 2,509,499,078.70 2 26

2004 06 30 2003 12 31 % % 1 1,263,252,257.96 100.00 6,316,261.29 827,323,687.16 100.00 4,136,618.44 1-2 - - - - - - 2-3 - - - - - - 3 - - - - - - 1,263,252,257.96 100.00 6,316,261.29 827,323,687.16 100.00 4,136,618.44 2004 06 30 2004 06 30 2004 06 30 5% 5% 3 2004 06 30 2003 12 31 % % 1 649,322,481.10 97.98 205,495.11 277,398,731.22 96.47 180,892.84 1-2 3,853,724.30 0.6 32,837.24 1,852,852.95 0.65 18,526.85 2-3 1,763,920.00 0.24 35,278.40 381,006.10 0.13 48,033.32 3 7,793,327.98 1.18 155,866.56 7,916,514.25 2.75 302,593.22 662,733,453.38 100.00 429,477.31 287,549,104.52 100.00 550,046.23 2004 06 30 5 597,370,888.77 90.14% 27

127,000,000.00 2004 271,389,883.93 2004 300MW 2004 93,433,071.96 49,171,200.00 2004 2004 25,620,000.00 2004 A1-4 24,860,000.00 5,896,732.88 1995 597,370,888.77 2004 06 30 4 2004 06 30 2003 12 31 % % 1 386,710,814.38 99.26 113,189,322.23 47.92 1-2 289,551.43 0.07 200,000.00 0.08 2-3 2,000,000.00 0.5 2,227,934.30 0.94 3 600,000.00 0.17 120,600,000.00 51.06 28

389,600,365.81 100.00 236,217,256.53 100.00 2004 06 30 380,000,000.00 2004 380,000,000.00 2004 06 30 230,000,000.00 150,000,000.00 2004 06 30 5% 5% 380,000,000.00 5 2004 06 30 2003 12 31 78,456,592.58 68,160,872.71 164,943,519.18 166,449,367.33 243,400,111.76 234,610,240.04 2004 06 30 6 2004 06 30 2003 12 31 286,695.22 600,252.76 545,576.70 701,456.00 197,889.40 832,271.92 1,499,598.16 29

7 1 2004 06 30 2003 12 31 86,070,503.70 92,534,259.94 - - 327,497,874.14 76,889,006.73 15,498,412.74 15,498,412.74 - - 429,066,790.58 184,921,679.41 2004 1 1 2004 / 06 30 10 72,785,600.00 47,310,639.88 3,639,280.02 43,671,359.86 10 55,510,999.54 44,408,799.70 2,773,549.96 41,635,249.74 10 4,367,698.54 814,820.36 50,926.26 763,894.10 132,664,298.08 92,534,259.94 6,465,756.24 86,070,503.70 2004 2004 1 1 ( ) 06 30-15% 3,000,000.00 4,116,756.57-213,049.42 3,903,707.15-25% 5,000,000.00 6,032,970.43 6,032,970.43-40% 6,060,000.00 8,227,196.56 8,227,196.56-19% 3,600,000.00 3,412,083.17 187,916.83 3,600,000.00-3.13% 52,500,000.00 52,500,000.00-52,500,000.00-26% 2,600,000.00 2,600,000.00 68,484,000.00 71,084,000.00-32% 80,000,000.00 80,000,000.00 80,000,000.00 30

- 27.15% 27,150,000.00 27,150,000.00 27,150,000.00-25% 75,000,000.00 75,000,000.00 75,000,000.00 254,910,000.00 76,889,006.73 250,608,867.41 327,497,874.14 8,220,061 0.68% 14,128,402.74 15,498,412.74 14,128,402.74 15,498,412.74 2 2004 2003 06 30 12 31 7.56% 10 5,161,494.06 5,161,494.06 10.00% - 1,650,000.00 2,475,000.00 4.91% 3 105,925,800.00 68,479,000.00 112,737,294.06 76,115,494.06 2004 06 30 36,621,800 37,446,800.00 8 2004 1 1 2004 06 30 3,102,287,232.43 3,102,287,232.43 8,386,997,645.45 73,021,764.29 27,002,226.13 8,433,017,183.61 117,719,180.21 6,848,924.00 2,424,606.71 122,143,497.50 71,416,045.87 319,428.00 27,156.62 71,708,317.25 31

11,678,420,103.96 80,190,116.29 29,453,989.46 11,729,156,230.79 871,767,798.02 68,114,152.67 943,763,812.14 3,613,057,286.65 276,598,229.25 22,588,243.11 3,863,177,381.30 59,950,940.70 6,167,049.98 2,254,932.13 63,863,058.55 49,109,019.61 627,269.71 18,404.95 49,725,914.41 4,593,885,044.98 351,506,701.61 24,861,580.19 4,920,530,166.40 7,084,535,058.98 6,808,626,064.39 2004 1-6 71,482,240.38 2004 06 30 9 2004 06 30 2003 12 31 2,503,920.50 3,915,896.13 135MW 291,022,836.50 126,058,987.00 293,526,757.00 129,974,883.13 2004 06 30 135MW 10 A 7,000,000.00 1,606,640.48 - - - 1,606,640.48 A 210,000,000.00 37,408,152.78 11,068,305.87 - - 48,476,458.65 A 10,000,000.00 5,292,225.67 3,429,648.20 - - 8,721,873.87 A #5 33,225,943.72 25,318,940.89 58,511,590.61-33,294.00 A A 9,020,000.00 1,592,127.00 3,245,517.15 - - 4,873,644.15 A 1#.2#4,390,000.00 1,158,288.00 - - 1,158,288.00 32

2,045,120.40 2,045,120.40 A #2-3,375,480.48 - - 3,375,480.48 A #4-2,188,088.20 - - 2,188,088.20 A 2,859,124.46 6,510,368.32 5,684,271.17 176,688.13 3,508,533.48 2*135MW 487,040,000.00 137,566,866.05 138,130,851.67 34,750.00-275,662,967.72 10# 16,910,000.00 4,070,182.66 - - 4,070,182.66 11 1,335,710,000.00 214,503,727.45 164,492,127.60 11,918,657.16 367,077,197.89 300MW 1,234,700,000.00 2,165,061.28 10,380,871.51 862,444.00-11,683,488.79 1.2 5,300,000.00 5,050,852.10 1,194,446.00 - - 6,245,298.10 20,000,000.00 1,424,696.13 24,108.21 - - 1,448,804.34 8,650,000.00 3,109,184.60 3,260,000.00 6,369,184.60-6,369,184.60 #2 DEH+MEH 101,253.00 4,151,655.00 4,252,908.00 828,621.59 828621.59 1,868,263.09 628,083.73 2,496,346.82 453,002,588.47 380,272,234.82 71,482,240.38 12,095,345.29 756,086,422.22 2004 1 1 2004 06 30 372,247.20-372,247.20 372,247.20-372,247.20 2004 06 30 11 2004 2004 1 1 06 30 231,919,160.0 0 135,672,708.2 1 - - 1,739,393.70 133,933,314.5 1 38.5 24,052,307.11 15,201,870.84 - - 442,772.94 14,759,097.90 16.67 13,903,200.00 11,266,634.52 - - 91,847.58 11,174,786.94 60.83 13,903,150.00 12,260,701.84 - - 99,951.36 12,160,750.48 60.83 33

15,640,260.00 15,509,924.50-15,509,924.50 49.58 62,120.00 31,100.00 - - 3,102.00 27,998.00 4.5 15,170,000.00 6,573,670.68 - - 1,516,999.98 5,056,670.70 1.67 183,756,414.8 132,712,966.4 127,608,621.6 5 5 - - 5,104,344.84 1 12.5 7,022,000.00 5,071,444.40 - - 195,055.56 4,876,388.84 12.5 7,298,672.71 4,804,959.37 - - 182,466.84 4,622,492.53 12.5 246,287,367.0 123,143,665.0 110,829,295.0 0 0 - - 12,314,370.00 0 4.5 633,100.00 4,464,129.06 138,380.00-458,258.76 4,144,250.30 5.22 759,647,751.6 7 466,713,774.8 7 138,380.00-22,148,563.56 444,703,591.3 1 2004 06 30 12 1 1-2 2-3 3 2004 06 30 2003 12 31 % % 605,868,348.14 92.35 410,865,092.11 98.46 44,235,239.72 6.74 629,580.00 0.15 558,270.00 0.03 248,360.00 0.06 5,400,765.59 0.82 5,535,065.59 1.33 656,062,623.45 100.00 417,278,097.70 100.00 2004 06 30 34

2004 06 30 538,045,904.9 0 2004 16,156,128.00 2003 7,191,925.10 2003 6,853,591.91 2003 568,247,549.9 1 2004 06 30 5% 5% 538,045,904.90 13 14 2004 06 30 37,363,660.15 760,734.21, 36,602,925.94 15 2004 06 30 2003 12 31 92,042,261.33 122,252,766.61 5,383.61 923,004.96 1,682,011.28 1,965,098.03 153,219,754.35 143,650,760.61 18,492,400.54 5,693,084.96-3,260,981.87 8,292,076.40-502,541.09 282,572.63 35

261,678,288.15 283,059,364.20 16 2004 06 30 2003 12 31 % % 1 137,175,719.77 73.44 247,328,849.17 93.35 1-2 38,196,818.49 20.45 4,155,190.25 1.57 2-3 356,376.59 0.21 10,467,504.79 3.95 3 11,059,246.32 5.90 3,005,966.09 1.13 186,788,160.98 100.00 264,957,510.30 100.00 2004 06 30 94,000,000.00 2004 06 30 2004 06 30 30,480,000.00 #5 2002-2003 26,646,535.77 2004 5,174,679.35 2004 4,680,000.00 2004 3,794,200.00 2004 70,775,415.12 2004 06 30 5% 5% 57,126,535.77 17 2004 06 30 2003 12 31 652,320.00 729,072.00 36

652,320.00 729,072.00 18 2004 2003 06 30 12 31 % 548,890,000.00 572,760,000.00 98.12.20-08.12.20 5.184 306,070,000.00 319,380,000.00 98.12.20-08.12.20 5.184 65,000,000.00 2004-2020 4.32 60,000,000.00 2004-2020 5.184 100,000,000.00 100,000,000.00 98.8.31-06.8.20 5.2416 110,000,000.00 110,000,000.00 99.9.24-06.8.20 5.2416 202,000,000.00 202,000,000.00 99.10.28-06.8.20 5.2416 483,000,000.00 453,000,000.00 02.5.20-13.6.30 5.76 1,874,960,000.00 1,757,140,000.00 1 246,180,000.00 283,360,000.00 1,628,780,000.00 1,473,780,000.00 10 19 : 2004 06 30 2003 12 31 1 1,553,175,000.00 1,553,175,000.00 1,333,800,000.00 1,333,800,000.00 37

219,375,000.00 219,375,000.00 - - 2 49,413,000.00 49,413,000.00 1,602,588,000.00 1,602,588,000.00 : 391,476,000.00 391,476,000.00 665,340,000.00 665,340,000.00 1,056,816,000.00 1,056,816,000.00 2,659,404,000.00 2,659,404,000.00 20 2004 1 1 2004 06 30 1,257,407,010.30 1,257,407,010.30 119,593,718.00 119,593,718.00 346,800.00 346,800.00 5,839,619.36 5,839,619.36 1,383,187,147.66 1,383,187,147.66 [1992]20 544,420,283.00 A 119,593,718.00 [1993]52 21 2004 1 1 2004 06 30 826,329,015.92-826,329,015.92 259,384,837.89-259,384,837.89 1,806,933,429.22-1,806,933,429.22 2,892,647,283.03-2,892,647,283.03 38

22 2004 06 30 2003 12 31 595,070,841.47 1,255,248,761.34 950,648,451.63 809,162,114.83 - - 1,545,719,293.10 2,064,410,876.17 125,524,876.13 62,762,438.07 1,545,719,293.10 1,876,123,561.97 - - 313,812,190.34 611,662,920.00 611,662,920.00 - - 880,868,293.10 950,648,451.63 23 (1) 2004 1-6 2003 1-6 A 3,860,078.20 323.98 3,576,788.58 318.00 3,604,208.52 357.68 3,256,127.95 351.70 956,838.762 360.98 599,970.69 355.00 846,134.12 385.98 534,367.81 380.00 561,203.01 346.15 34,131.04 320.00 A 2004 39

1 1 [2004]19 0.598 / [2004]180 346.15 / / (2) 3,420,874,827.66 24 2004 1-6 2003 1-6 12,584,834.12 10,114,750.76 5,743,728.63 4,640,895.38 18,328,562.75 14,755,646.14 25 2004 1-6 2003 1-6 4,876,389.09 4,601,235.71 4,189,065.63 4,214,883.75 687,323.46 386,351.96 2004 26 2004 1-6 2003 1-6 46,686,794.88 49,778,799.75 22,831,477.69 16,829,031.70 66,356.36 530,520.52 27,315.30 24,452,194.07 32,977,083.35 40

27 2004 1-6 2003 1-6 79,200.00 212,826.47 - - 79,200.00 212,826.47 - - /572,946.40 2,750,000.00-6,465,756.23-6,633,214.93 - - - - -27,209.18 - -5,840,819.01-3,670,388.46 28 2004 1-6 2003 1-6 - 100.00 386,326.33 840,725.38 386,326.33 840,825.38 29 2004 1-6 2003 1-6 78,006.00 345,000.00 419,800.00 1,950.00 55,268.77 898,154.60 804,560.20 1,323,110.60 1,279,628.97 30 41

2004 1-6 : 15,355,320.29 9,221,268.72 1,773,760.32 1,055,138.25 3,285,986.52 3,752,165.97 2,910,595.10 2,248,587.81 1,409,853.66 1,780,816.57 2,119,580.92 1,222,956.63 29,050,820.41 92,727,047.50 1 2004 06 30 2003 12 31 % % 1 250,292,907.95 100.00 1,251,464.54 280,034,795.78 100.00 1,400,173.98 1-2 - - - - - - 2-3 - - - - - - 3 - - - - - - 250,292,907.95 100.00 1,251,464.54 280,034,795.78 100.00 1,400,173.98 2 2004 06 30 2003 12 31 4,501,307,776.75 4,237,427,011.51 - - 42

327,497,874.14 76,889,006.73 15,498,412.74 15,498,412.74 - - 4,844,304,063.63 4,329,814,430.98 1,189,380,000.00 995,954,400.00 214,357,718.01-2,681,227,197.54 166,681,237.46 2,016,825,833.12 510,000,000.00 188,600,000.00 77,661,436.44 826,664,226.73 58,789,930.28 642,068,462.57 292,500,000.00 208,000.000.00 33,488,988.62-150,967,824.31 49,028,027.65 98,826,561.65 19,844,100.00 90,906,225.00 11,337,573.80-18,916,156.80 - - 2,011,724,100.00 1,483,460,625.00 336,845,716.87 3,677,775,405.38 274,499,195.39 2,757,720,857.34 3,000,000.00-598,078.99 5,971,552.37 5,000,000.00-5,621,692.20 6,060,000.00-866,599.38 3,600,000.00-1,085,156.26 52,500,000.00-6,750,000.00 LNG 80,000,000.00 27,150,000.00 75,000,000.00 2,600,000.00 68,484,000 - - 43

254,910,000 68,484,000 20,295,000.21 3 2004 1 1 2004 06 30 887,664,765.52 887,664,765.52 2,886,097,345.57 66,720,637.62 21,932,357.00 2,930,885,626.19 46,421,250.55 3,364,630.00 1,261,900.00 48,523,980.55 3,820,183,361.64 70,085,267.62 23,194,257.00 3,867,074,372.26 389,050,458.83 18,012,189.12 407,062,647.95 1,740,742,840.61 85,590,182.75 19,670,325.52 1,806,662,697.84 23,034,887.55 2,288,192.69 1,136,851.27 24,186,228.97 2,152,828,186.99 105,890,564.56 20,807,176.79 2,237,911,574.76 1,667,355,174.65 1,629,162,797.50 4 2004 06 30 2003 12 31 200,000,000.00 - - - 200,000,000.00 5 A 44

6 2004 1-6 2003 1-6 79,200.00 212,826.47 : - - 79,200.00 212,826.47 - - /572,946.40 2,750,000.00 336,845,716.87 270,240,934.77-6,465,756.24-6,633,214.92 - - - - -27,209.16-331,004,897.87 266,570,546.32 ( ) 1 45

2 2004 1 1 2004 06 30 1,200,000.00-1,200,000.00 287,544.00-287,544.00 120,000.00-120,000.00 45,000.00 32,000.00-77,000.00 21,715.75 - - 21,715.75 3 2004 06 30 2004 01 01 % % 1,333,800,000.00 50.15 1,333,800,000.00 50.15 2,185,334,400.00 76 2,185,334,400.00 76 696,000,000.00 58 680,000,000.00 68 500,500,000.00 65 292,500,000.00 65 110,750,325.00 51 110,750,325.00 51 4 D C 46

( ) 1 2004 1-6 2003 1-6 596,307,537.31 398,289,303.40 A 603,881,975.38 435,437,363.40 117,562,936.93 21,889,288.41 3,249,329.28 2,882,658.08 A 6,013,831.05 9,316,668.46 1,327,015,609.95 867,815,281.75 2004 1-6 2003 1-6 114,672,277.17 66,053,553.48 9,076,182.18 4,086,492.60 11,507,130.48 7,855,455.57 135,255,589.83 77,995,501.65 2 (1) 2004 8,884,593.11 2003 7,754,698.39 (2) A C 47

50 2004 A 740,114.24 2003 638,458.41 3 2003 1 1 11 4 2003 1 16 LNG 32% 33% 35% 2003 26,560,000.00 2004 102,611,200.00, 80,000,000.00 2003 6 13 4,000,000.00 ( )27.15% 2003 127,000,000.00 2004 27,150,000.00 27,150,000.00 2003 6 17 ( ) 26% 2003 2,600,000.00 2004 68,484,000.00 2003 11 25% 2004 84,000,000.00, 75,000,000.00 2003 10 48

30% 2004 25,620,000.00 5 2003 A 7,000,000.00 2002 23,480,000.00 2004 06 30 A 30,480,000.00 2004 37,446,800.00 ( ) 2004 06 30 2003 12 31 180,000,000.00 180,000,000.00 141,599,118.26 104,395,737.75 105,925,800.00 68,479,000.00 C 4,617,976.99 4,617,976.99 A 160,577,669.04 112,455,870.00 30,480,000.00 30,480,000.00 200,383,367.85 50,000,000.00 203,329,940.71 96,508,569.68 D 10,474,700.00 10,474,700.00 1,351,200.00 1,351,200.00 5,588,700.00 5,588,700.00 26,646,535.77 22,388,272.31 507,865.00 507,865.00 32,539,176.89 22,200,756.95 2,031,504.23 93,143.21 49

2004 06 30 2 600MW 410,000.00 39% 39,975.00 2004 06 30 271,389,883.93 3 4 3 26,062.10 6,950.50 2004 06 30 25,620,000.00 32% 35% 33% 458,000.00 36,640.00 2004 06 30 129,171,200.00 80,000,000.00 1 2 1 580,000.00 145,000.00 36,250.00 2004 06 30 84,000,000.00 75,000,000.00 7,520, 2004 06 30 154,150,000.00 27,150,000.00 50

2004 06 30 105,925,800.00 2004 06 30 2004 06 30 2004 2001 12 27 2001 9% 1,500,000,000.00 2004 06 30 412,000,000.00 2002 3 1 650,000,000.00 1 51% 2 3 2004 06 30 483,000,000.00 2002 3 1 51

2004 ( ) ( ) ( ) ( ) ( ) OO 52