2002 FENGHUA ADVANCED TECHNOLOGY HOLDING CO., LTD. 2002 ОО

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2003 2002 1

FENGHUA ADVANCED TECHNOLOGY HOLDING CO., LTD. 0758-2844724 0758-2849045 000636@china-fenghua.com 18 18 18 526020 http://www.fenghua-advanced.com 000636@china-fenghua.com http://www.cninfo.com.cn 000636 1994 3 23 24 2000 9 30 18 4400001001279 2

441201502100006 01 2072 8 1 27,201,416.34 2 22,366,988.71 3 28,815,526.54 4 180,981,784.79 5 759,313.06 6 33,653,932.01 7-6,226,020.61 8 1,558,245.00 9-1,784,740.06 10 176,789,744.66 11 88,706,769.19 325,248.08 1,558,245.00 449,507.90 1,727,947.96 7,053,590.85-6,448,537.83-5,481,257.16 2002 2001 2000 ( ) 1,018,165,554.75 963,346,395.69 963,346,395.69 1,369,454,671.90 1,369,454,671.90 ( ) 22,366,988.71 32,356,830.72 42,831,656.36 359,156,280.53 365,564,238.42 ( ) 3,123,162,679.94 2,856,942,137.56 2,871,617,931.05 2,482,789,557.17 2,503,666,073.01 3

( ) 2,062,023,464.28 2,047,676,082.43 2,060,293,494.29 2,040,703,298.20 2,061,400,416.79 ( / ) 0.042 0.061 0.081 0.677 0.690 ( / ) 3.888 3.861 3.885 3.848 3.890 ( / ) 3.829 3.803 3.832 3.815 3.850 (%) 1.08 1.58 2.08 17.60 17.73 0.333 0.0496 0.0496 0.410 0.410 ( / ) 9 % 8.78 8.79 0.341 0.341 1.63 1.63 0.063 0.063 1.08 1.09 0.042 0.042 1.35 1.35 0.052 0.052 ( ) : 530,330,955 1,071,567,758.63 151,846,478.68 42,476,886.81 295,959,112.19-2,028,222.07 2,047,676,082.43-3,442,141.23 3,355,048.31 1,118,349.44 22,366,988.71 2,028,222.07 31,192,400.32-231,696.28 16,613,322.19 16,845,018.47 530,330,955 1,074,778,203.58 155,201,526.99 43,595,236.25 301,712,778.71-2,062,023,424.28 1 2 3 1 4

+ - 1 225,911,452 225,911,452 201,080,451 201,080,451 24,831,001 24,831,001 2 103,625,303 103,625,303 3 4 375,330-209,235-209,235 166,095 329,912,085 329,702,850 1 200,418,870 2 3 4 200,418,870 +209,235 +209,235 200,628,105 200,628,105 530,330,955 530,330,955 2 1 A 1994 3 8 [1994]30 4,000 1 2,931.7 73.3% 1,068.3 26.7% B A [1996]308 [1996]309 1996 11 1,350 135, 8.5 135 1996 11 29 1997 5 29 A 1215 1996 11 8 5

1996 11 29 C [1998]17, 1998 3 1996 5,350 10 3 10,700 10 1.5 136.71 371.4 405 913.11 1998 5 6 [2001]19 2001 4 5 D A [2000]28 2000 5 10 4,000, 28.50 2000 5 30 2 253,756 44,524 1 2002 12 31 91,038 2 2002 12 31 ( ) (%) ( ) 1 142,484,170-26.87 71,225,000 2 42,335,000-7.98 3 26,775,000-5.05 4 22,380,300-4.22 5 20,211,000-3.81 6 16,725,000-3.15 7 14,134,700-2.67 8 8,100,000-1.53 9 5,625,000-1.06 10 5,447,725 1.02 6

A 6682.5 440 2005 3 15 2003 4 15 2002 6 26 5% 5% B C 1 2 3 1996 12 28 4 1.2 5, 1994 9 7 1.2 1 7

54 2000.9-2003.9 67,540 0 67,540 41 2000.9-2003.9 54,031 0 54,031 37 2002.5-2003.9 - - 40,524 45 2000.9-2003.9 0 0 0 49 2000.9-2003.9 0 0 0 39 2000.9-2003.9 0 0 0 52 2000.9-2003.9 0 0 0 41 2002.5-2003.9 - - 0 71 2000.9-2003.9 0 0 0 66 2002.5-2003.9 - - 0 59 2002.5-2003.9-0 0 34 2000.9-2003.9 0 0 0 45 2000.9-2003.9 0 0 0 37 2000.9-2003.9 0 0 0 46 2000.9-2003.9 0 0 0 45 2002.5-2003.9 - - 4,000 32 2002.5-2003.9 - - 0 41 2002.8-2003.9 - - 0 44 2000.9-2003.9 0 0 0 35 2000.9-2003.9 0 0 0 39 2000.9-2003.9 0 0 0 35 2000.9-2003.9 0 0 0 48 2002.4-2003.9 - - 0 48 2000.9-2003.9 0 0 0 2002 5 2003 9 2 1 2 3 4 5 6. 1 8

2 171.52 58.21 65.51 1.9 1.4 1000 / ( ) % 20 1 4.16 10-20 3 13.04 10 19 82.60 3 4 1 2002 4 15 2002 2 2002 5 29 2001 3 2002 8 7 5,236 13 1,638 31.29% 309 5.90% 9

10 416 7.94% 2873 54.87% 14 0.27% 33 0.63% 2019 38.56% 1,318 25.17% 1,852 35.37% [2002]1

11 2003 9 2002 5 29 2001 3 1 2 3

4 5 1 2002 4 17 2002 5 22 2002 5 29 2001 2002 5 29 2001 2 5 1 14 289,728,251 54.63% (1) 2001 (2) 2001 (3) 2001 (4) 2001 (5) 2001 (6) 2001 2002 (7) < > (8) (9) (10) 12

(11) (12) (13) (14). 2002 5 30 2002 5 29 2001 2002 2001 2002 MLCC 60%-70% MLCC 2001 50% 2002 20% MLCC 353 3 101,816.56 5.69% 2,236.70 30.87% 2002 MLCC 13

MLCC 2002 1 MLCC 6 0402 MLCC MLCC 2 0402 3 4 14

3 1,739 960 1 793,693,838.41 77.95% 151,695,401.48 83.81% 102,269,360.22 10.04% 15,391,528.72 8.52% 38,875,495.15 3.82% 3,973,075.62 2.19% 83,326,860.97 8.18% 9,921,768.97 5.48% 1,018,165,554.75 100% 180,981,784.79 100% 2 487,297,425.79 47.86% 104,281,649.12 57.61% 120,846,358.09 11.87% 15,891,296.09 8.78% 102,269,360.22 10.04% 15,391,538.72 8.55% 92,000,412.37 9.04% 23,092,103.50 12.75% 66,638,911.83 6.54% 6,877,135.70 3.79% 54,670,275.36 5.37% 5,631,138.36 3.11% 38,879,366.80 3.82% 2,799,314.41 1.54% 38,875,495.15 3.82% 3,973,075.61 2.19% 16,687,949.14 1.64% 3,044,533.28 1.68% 1,018,165,554.75 100% 180,981,784.79 100% 3 665,088,692.22 65.32% 115,876,263.61 64.03% 353,076,862.53 34.68% 65,105,521.18 35.97% 1,018,165,554.75 100% 180,981,784.79 100% ( ) 10% 487,297,425.79 47.86% 381,212,776.20 21.77% 120,846,358.09 11.87% 104,507,930.48 13.52% 102,269,360.22 10.04% 86,499,424.87 15.42% 15

% 97.50 40,000 98,165.00 2,901.09 96.80 2,969 14,876.67 723.84 55.00 4,150 4,254.60-304.71 92.00 2,500 88,75.38 1,446.08 98.46 13,000 24,848.52-0.21 96.00 2,500 14,416.83-617.01 92.00 2,500 11,314.46-463.60 94.09 2,200 1,377.95-549.99 40.91 4,497 5,543.18 47.60 58.33 18,900 53,028.27-840.20 2002 17.97% 2002 14.66% 1 2 2 6-7 2 16

3 600 6 2002 6 5.5 56,518.06 94.19% 55,229.60 1 [2000]28 2000 5 10 4,000, 1,140,000,000, 43,900,078.37, 1,096,099,921.63 2000 5 16 2002 12 31 1 2 3 5,000 3,244 3,244 86,800 21,500 99,906 85,253 19,500 5,786 10,552 5,213 4 8,890 3,457 11,385 7,397 5 6,450 1,373 7,321 6,670 6 7 1,500 608 2,823 1,583 2,000 200 329 250 130,140 32,924 134,495 109,610 17

2 (1) : 3,244 5,600 MLCC 8 29 3 11 17 (2) : 99,906 85,253 MLCC 600 PC 0.322 (3) 10,552 5,213 (4) : 11,385 7,397 MLCC 790 (5) 7,321 6,670 4,000 (6) 2,823 1,583 2,400 177 (7) 329 250 PDP 18

1 2002 4 15 2002 1,200 1,080 90% 2 7,800 10,000 3 700 525 75% 4 2002 8 7 2002 1 6,700 5,930 88.50% 2 1,800 1,600 88.90% 3 1,500 1,340 89.30% 5 2002 8 3000 2700 90% 2002 2001 312,316.27 285,694.21 9.31% 37,178.18 28,307.50 31.33% 37,439.48 27,464.71 36.31% 42,995.93 45,493.98-5.49% 56,500.00 39,130.00 44.39% 168,253.93 155,855.89 7.95% 101,816.56 96,334.64 5.69% 18,098.18 19,206.48-5.77% 19

2,236.70 3,235.68-30.87% 1 9.31% 2 31.33% 3 36.31 % 4 5.49 % 5 44.39% 6 7.95% 7 5.69% 8 5.77% 9 30.87% 1 15% 2 3 MLCC 3% 0 6.50% 2003 2003 20

1 2 2 MLCC MLCC 80% 0402 IC NTC 3 1 A 2002 2002 2002 4 15 2 2 12 8 3 21

1 2001 2 2001 3 2001 4 2001 5 2001 2002 6 7 8 9 10 11 12 13 14 15 16 17 18 19 2001 2002 4 17 B 2002 2002 2002 4 24 8 8 1 2002 2 2001 2 [2002]117 22

2002 8 7 2002 2002 4 26 C 2002 2002 2002 6 18 13 13 1 2002 6 20 D 2002 2002 2002 8 7 1 1 2 13 7 6 1 2002 2 3 4 5 6 7 2002 8 9 E 2002 2002 2002 10 24 12 12 1 2002 2002 10 26 2 23

1 2002 5 29 2001 2001 2001 12 31 530,330,955, 10 0.40 ( ) 2002 7 18 2002 7 19 2002 7 19 2 A B 2002 1 2002 2002 2,236.70 10% 5% 335.50 29,595.91 2002 31,497.11, 2002 2002 12 31 530,330,955, 0.25 ( ), 1 325.83, 30,171.28 A 2002 2002 2002 4 15 2 1 24

, 5, 3 : 1 2001 2 2001 3 4 5 2001 2002 4 17 B 2002 2002 2002 8 7 1 1 2 5 5 1 2002 2002 8 9 C 2002 2002 2002 10 24 5 5 1 2002 2002 10 26 1 2 25

2002 3 2000 4 5 6 ( ) 1. 4,762,013.93 0.79% 30,311,975.88 5.01% 4,819,095.74 0.79% 42,785,719.42 6.59% 26

8.20% 6.59% 2 160,707,031.32 15.78% 73,425,418.74 7.21% 27,192,862.78 2.67% 651,275.15 0.06% 261,325,312.84 25.72% 1 2001 5 2 3 3.65 44,196,980.27 15,432,358.38 ( ) 960 4,060 1 27

2 3 4 5% 5% 2001 2002 60 2002 28

(2003) CA240 2002 12 31 2002 2002 2002 12 31 2002 2003 3 2 2003 4 21 29

2002-12-31 2001-12-31 1 371,781,770.67 283,075,001.48 2 2,345,993.99 3,378,930.00 3 26,971,165.54 11,245,108.26 4 374,394,782.39 274,647,075.50 5 16,538,519.82 13,149,765.35 6 31,614,354.89 72,412,493.20 7 22,193,123.22 -- 8 429,959,310.55 454,939,806.32 9 5,327,441.92 6,413,684.36 1,281,126,462.99 1,119,261,864.47 10 108,624,262.79 106,075,996.77 -- 108,624,262.79 106,075,996.77 11 2,103,173,805.41 1,372,463,125.28 11 467,463,797.84 337,102,459.63 11 1,635,710,007.57 1,035,360,665.65 11 19,981,871.86 21,465,328.51 11 1,615,728,135.71 1,013,895,337.14 12 66,811,167.97 544,663,532.44 1,682,539,303.68 1,558,558,869.58 13 40,922,106.21 64,001,459.46 14 9,950,544.27 9,043,947.28 50,872,650.48 73,045,406.74 3,123,162,679.94 2,856,942,137.56 30

2002-12-31 2001-12-31 15 565,000,000.00 391,300,000.00 16 7,009,271.88 5,007,815.55 17 201,870,260.50 168,850,067.77 18 3,249,481.61 4,995,249.07 308,672.87 2,006,141.72 4,319,747.69 5,254,985.68 16,212,191.47 23,449,342.43 19 (18,382,772.15) (29,638,192.34) 20 513,824.49 1,422,397.50 21 14,492,471.45 29,911,551.93 22 5,386,707.00 9,991,558.97 23 214,400.00 20,622,200.00 800,194,256.81 633,173,118.28 24 80,350,000.00 350,000.00 248,583.62 278,704.14 25 15,807,702.67 7,640,500.00 -- -- 96,406,286.29 8,269,204.14 -- -- 896,600,543.10 641,442,322.42 164,538,672.56 167,823,732.71 26 530,330,955.00 530,330,955.00 27 1,074,778,203.58 1,071,567,758.63 28 155,201,526.99 151,846,478.68 28 43,595,236.25 42,476,886.81 29 301,712,778.71 295,959,112.19 -- (2,028,222.07) 2,062,023,464.28 2,047,676,082.43 3,123,162,679.94 2,856,942,137.56 31

2002 2001 30 1,018,165,554.75 963,346,395.69 30 833,409,402.05 769,565,179.65 31 3,774,367.91 1,716,445.55 180,981,784.79 192,064,770.49 32 759,313.06 5,729,865.29 36,301,070.83 25,380,893.45 33 85,067,543.36 117,327,535.51 34 26,718,551.65 17,420,501.04 33,653,932.01 37,665,705.78 35 (6,226,020.61) (4,678,038.16) 36 1,558,245.00 3,148,590.00 37 449,507.90 408,499.97 38 2,234,247.96 4,673,058.49 27,201,416.34 31,871,699.10 6,898,696.27 11,067,442.49 (4,092,490.71) (9,524,352.04) (2,028,222.07) 2,028,222.07 22,366,988.71 32,356,830.72 295,959,112.19 289,669,044.28 318,326,100.90 322,025,875.00 2,236,698.87 3,235,683.07 1,118,349.44 1,617,841.54 314,971,052.59 317,172,350.39 -- -- 13,258,273.88 21,213,238.20 301,712,778.71 295,959,112.19 2002 2001 1. -- -- 2. -- -- 3. -- (10,474,825.64) 4. -- -- 5. -- -- 6. -- -- 32

2002 1,033,705,580.35 4,979,742.22 39 23,510,061.79 1,062,195,384.36 566,558,991.83 104,269,134.64 27,393,233.57 39 187,184,279.66 885,405,639.70 176,789,744.66 773,909.99 325,248.08 99,669.27 1,198,827.34 274,646,163.88 40 9,620,000.00 229,755.51 284,495,919.39 (283,297,092.05) 5,550,000.00 5,550,000.00 645,000,000.00 41 9,600,000.00 660,150,000.00 411,707,800.00 53,228,083.42 464,935,883.42 195,214,116.58 -- 88,706,769.19 33

2002 1 22,366,988.71 (2,028,222.07) (4,092,490.71) 17,772,052.64 137,299,285.07 1,986,123.23 10,281,678.74 1,086,242.44 (4,604,851.97) ( ) (99,669.27) 33,998,960.93 5,966,994.59 28,027,894.55 -- (100,798,627.82) 25,570,941.46 176,789,744.66 2 -- -- -- 3 371,781,770.67 283,075,001.48 -- -- 88,706,769.19 34

2002-12-31 2001-12-31 339,287,605.82 243,624,986.02 2,345,993.99 3,378,930.00 21,412,415.00 9,197,933.52 1 1,333,080,472.50 1,222,006,184.54 2 3,039,958.39 6,258,104.05 1,957,659.78 14,388,391.13 22,193,123.22 -- 8,330,897.73 3,326,945.26 170,257.43 290,236.35 1,731,818,383.86 1,502,471,710.87 3 1,242,947,605.39 1,229,399,461.76 -- -- 1,242,947,605.39 1,229,399,461.76 637,162,047.34 247,514,363.73 61,112,377.30 27,028,684.49 576,049,670.04 220,485,679.24 1,025,825.85 2,515,582.50 575,023,844.19 217,970,096.74 10,470,360.04 272,674,545.64 585,494,204.23 490,644,642.38 18,207,079.71 42,877,235.52 6,508,553.88 2,636,507.30 24,715,633.59 45,513,742.82 3,584,975,827.07 3,268,029,557.83 35

2002-12-31 2001-12-31 565,000,000.00 371,300,000.00 -- -- 821,846,061.54 760,444,432.36 -- 4,046,915.15 91,852.11 328,283.05 16,211,252.19 23,448,403.15 (17,568,851.12) (24,093,805.60) 236,810.57 1,240,242.78 8,304,023.45 6,793,177.75 1,385,120.35 2,588,815.13 -- 20,415,000.00 1,395,506,269.09 1,166,511,463.77 80,000,000.00 -- -- 278,704.14 4,028,000.00 300,000.00 84,028,000.00 578,704.14 1,479,534,269.09 1,167,090,167.91 530,330,955.00 530,330,955.00 1,089,727,847.77 1,086,517,402.82 155,201,526.99 151,846,478.68 43,595,236.25 42,476,886.81 330,181,228.22 332,244,553.42 2,105,441,557.98 2,100,939,389.92 3,584,975,827.07 3,268,029,557.83 36

2002 2001 4 696,679,879.05 633,028,123.64 4 696,479,204.96 632,244,824.78 2,404.54 -- 198,269.55 783,298.86 -- (0.02) (3,694,207.19) 3,245,741.87 20,939,647.06 24,408,040.41 (28,084,486.32) (37,685,684.66) 11,037,316.00 10,815,201.22 5 2,473,598.54 32,562,950.50 1,472,769.00 2,758,590.00 66,313.45 23,512.11 500,000.00 1,349,584.56 14,549,996.99 44,810,669.27 -- -- 14,549,996.99 44,810,669.27 332,244,553.42 313,500,646.96 346,794,550.41 358,311,316.23 2,236,698.87 3,235,683.07 1,118,349.44 1,617,841.54 343,439,502.10 353,457,791.62 -- -- 13,258,273.88 21,213,238.20 330,181,228.22 332,244,553.42 2002 2001 1. -- -- 2. -- -- 3. -- (10,474,825.64) 4. -- -- 5. -- -- 6. 37

2002 715,870,199.74 4,979,742.22 81,774,048.24 802,623,990.20 751,684,023.70 10,963,723.57 6,647,063.22 112,045,273.05 881,340,083.54 (78,716,093.34) 773,909.99 47,175,252.08 60,096,321.15 66,313.45 2,499,000.28 110,610,796.95 68,130,029.90 76,820,000.00 -- 144,950,029.90 (34,339,232.95) 645,000,000.00 9,600,000.00 654,600,000.00 391,715,000.00 54,167,053.91 -- 445,882,053.91 208,717,946.09 -- 95,662,619.80 38

2002 1 14,549,996.99 -- 9,284,086.55 9,369,910.98 496,753.22 1,811,371.63 119,978.92 (1,203,694.78) ( ) (66,313.45) (25,463,390.56) (2,473,598.54) (5,003,952.47) -- (144,287,892.89) 64,150,651.06 -- (78,716,093.34) 2 -- -- -- 3 339,287,605.82 243,624,986.02 -- -- 95,662,619.80 39

2002 1 34,752,017.36 11,380,481.50 11,848,920.15 34,283,578.71 32,834,057.15 10,227,400.88 11,701,054.05 31,360,403.98 1,917,960.21 1,153,080.62 147,866.10 2,923,174.73 729,495.99 259,026.02 -- 988,522.01 729,495.99 259,026.02 -- 988,522.01 -- -- -- -- 28,778,381.14 5,626,245.12 8,673,643.90 25,730,982.36 26,763,527.15 3,829,004.93 8,397,564.52 22,194,967.56 1,682,414.06 310,227.89 -- 1,992,641.95 39,920.33 1,487,012.30 -- 1,526,932.63 292,519.60 -- 276,079.38 16,440.22 -- -- -- -- -- -- -- -- -- -- -- -- 21,465,328.51 6,300.00 1,489,756.65 19,981,871.86 -- -- -- -- 21,419,537.66 6,300.00 1,489,756.65 19,936,081.01 10,743.06 -- -- 10,743.06 35,047.79 -- -- 35,047.79 -- -- -- -- -- -- -- -- -- -- -- 1,349,584.56 500,000.00 -- 1,849,584.56 -- -- -- 40

2 2002 2001 530,330,955.00 530,330,955.00 -- -- -- -- -- -- -- -- -- -- -- -- 530,330,955.00 530,330,955.00 1,071,567,758.63 1,071,567,758.63 3,442,141.23 -- -- -- -- -- -- -- 3,442,141.23 -- -- -- 231,696.28 -- -- -- 1,074,778,203.58 1,071,567,758.63 109,369,591.87 106,133,908.80 2,236,698.87 3,235,683.07 2,236,698.87 3,235,683.07 2,236,698.87 3,235,683.07 -- -- -- -- -- -- -- -- -- -- -- -- 111,606,290.74 109,369,591.87 87,190,472.50 84,953,773.63 42,476,886.81 40,859,045.27 1,118,349.44 1,617,841.54 1,118,349.44 1,617,841.54 -- -- 43,595,236.25 42,476,886.81 295,959,112.19 289,669,044.28 22,366,988.71 32,356,830.72 16,613,322.19 26,066,762.81 301,712,778.71 295,959,112.19 41

3 2002-12-31 1 (21,259,972.81) 2 146,065,337.72 43,422,373.29 254,011.42 7,046,874.06 3 151,237,091.51 10,829,330.37 -- 16,248,429.61 13,919,094.11 4 (16,705,321.92) 1 (8,761,921.16) 2 6,872,220.05 3 8,160,185.21 4 (10,049,886.32) 42

2002 ( / ) 8.78% 8.79% 0.341 0.341 1.63% 1.63% 0.063 0.063 1.08% 1.09% 0.042 0.042 1.35% 1.35% 0.052 0.052. 1 : = = 2 (ROE) : P ROE=----------------------------------------- E 0 +NP 2+E i M i M 0 -E j M j M 0 P NP E 0 E i Ej M0 Mi Mj. 3 EPS P EPS=------------------------------------ S 0 +S 1 +S i M i M 0 -S j M j M 0 P S 0 S 1 Si Sj M0 Mi Mj. 4 : 1. ( )325,248.08 ; 2. 1,558,245.00 ;3. 449,507.90 ; 4. ( )1,727,947.96 ;5. 7,053,590.85 ; (6,448,537.83) (5,481,257.16) 43

2002 12 31 [1994]30 19037945-2 [1996]308 A 1350 2000 9 30 4400001001279 530,331,000 [1999]381 1 2 1 1 12 31 3 4 5 6 7 44

8 ( ) 1 5%1-2 10% 2-3 15%3 20% 100% a., ; b., 9 10 1 a. b. C. 45

d. 20% 20% 20% 20% 2, 3 11, 2000 a., b. ( 5%) : 35 2.71% 5-10 19-9.5% 5-10 19-9.5% 46

6 15.83% 5 19% 12 13 1),, a. b. c. 2) a., b., 3) 3 4) 14, 10 47

a. 50 b. 10 15 a. b. 16 1) 2) 3), 1), 2), 17 ( ) 18 19 [2002]18 2002 1 1 12,617,411.86 2001 10,474,825.64 2002 12,617,411.86 10,724,800.09 48

1,892,611.77 1,821,198.29 20 50% 17% 5% 15% 7% 3% 1% 1. RMB40,000 RMB39,000 97.50%. RMB2,969 RMB2,874 96.8% USD500 USD279.83 55% RMB2,500 RMB2,300 92% RMB2,170 RMB1,519.86 70%. RMB13,000 RMB12,800 98.46% RMB2,500 RMB2,400 96% RMB2,500 RMB2,300 92% *1 RMB6,700 *1 RMB1,500 *1 RMB1,800 RMB5,930 94.77% RMB1,340 94.00% RMB1,600 94.07% 49

RMB500 RMB485 97% *2 RMB4,497 RMB1,839.68 40.91% RMB2,000 RMB1,800 90% RMB18,900 RMB19,845 58.33% *1 2002 8 2002 1 6,700 3,860 94.09% 88.50% 720 10.75% 94.77% 2 1,500 1,340 89.33% 120 8% 94% 3 1,800 1,600 88.89% 160 8.89% 94.07% *2 50% RMB550 RMB480 87.27%. RMB2,913.90 RMB2,879.50 98.82%. RMB752.60 RMB702.60 93.36% *1 RMB3,000 RMB2,700 90% *2 RMB651.40 RMB387 59.41%.. *1 2002 8 2,700 90% 50

*2 2002 2002 9 697.50 62.73% 59.41% 2. RMB2,500 RMB1,512.29 20%. RMB8,000 RMB2,900 36.25%. RMB1,068 RMB456 42.7%. 1 2002.12.31 2001.12.31 RMB 195,754.67 195,754.67 830,727.13-830,727.13 HKD 40,884.50 1.0611 43,378.14 36,884.5 1.0614 39,119.70 239,132.81 869,846.83 RMB 363,334,225.29 363,334,225.29 237,705,577.98-237,705,577.98 HKD 5,510,395.64 1.0611 5,847,080.81 5,479,475.97 1.0614 5,811,532.21 USD 171.66 8.2773 1,420.82 2,270.92 8.2767 18,796.26 369,182,726.92 243,535,906.45 RMB 2,359,910.94 2,359,910.94 38,669,248.20-38,669,248.20 371,781,770.67 283,075,001.48 31.33% 2 2002.12.31 2001.12.31 3,334,516.00 988,522.01 4,108,425.99 729,495.99 3,334,516.00 988,522.01 4,108,425.99 729,495.99 3,334,516.00 988,522.01 4,108,425.99 729,495.99 3 2002.12.31 2001.12.31 200,000.00 926,930.21 51

26,771,165.54 10,081,187.02-20,000.00-216,991.03 26,971,165.54 11,245,108.26 4 2002.12.31 2001.12.31 1 329,692,509.99 81.25% 12,956,459.80 212,793,044.20 69.21% 10,585,464.64 1~2 21,427,310.98 5.28% 2,142,731.10 52,201,401.19 16.97% 5,151,992.11 2~3 38,280,811.36 9.44% 11,961,822.90 15,635,936.72 5.09% 2,609,899.69 3 16,354,554.04 4.03% 4,299,390.18 26,850,750.54 8.73% 14,486,700.71 405,755,186.37 100% 31,360,403.98 307,481,132.65 100% 32,834,057.15 5% 5% 124,736,773.50 30.74% 31.96% 1 2 5 2002.12.31 2001.12.31 1 7,629,405.48 39.20% 381,470.27 4,086,491.82 27.12% 143,914.64 1~2 3,264,383.21 16.77% 326,438.32 660,723.79 4.39% 65,349.64 2~3 2,428,624.06 12.48% 364,293.61 6,514,002.54 43.23% 994,351.69 3 6,139,281.80 31.55% 1,850,972.53 3,806,507.41 25.26% 714,344.24 19,461,694.55 100% 2,923,174.73 15,067,725.56 100% 1,917,960.21 5% 5% 4,125,068.97 21.20% 6 2002.12.31 2001.12.31 1 30,352,520.52 96.01% 56,328,222.77 77.79% 52

1-2 1,078,494.38 3.41% 11,542,663.57 15.94% 2-3 183,339.99 0.58% 2,300,417.75 3.17% 3 - - 2,241,189.11 3.10% 31,614,354.89 100% 72,412,493.20 100% 5% 5% 5,760,085.91 18.22% 56.34% 7 2002.12.31 2001.12.31 22,193,123.22-22,193,123.22-8 2002.12.31 2001.12.31 89,527,015.63 1,992,641.95 121,736,793.60 1,682,414.06 129,550,160.75 1,526,932.63 151,210,336.69 39,920.33 229,096,106.73 22,194,967.56 205,026,604.73 26,763,527.15 2,294,336.80 16,440.22 4,011,004.19 292,519.60 2,181.71-16,297.82-679,243.98-691,830.42-27,659.37 - - - 4,513,587.94-1,025,320.01-455,690,292.91 25,730,982.36 483,718,187.46 28,778,381.14 9 4,780,845.37 4,814,660.26 6,272,118.15 3,323,387.48 1,632,838.99 2,665,242.74 2,294,027.29 2,004,054.44 6,413,684.36 7,479,903.00 8,566,145.44 5,327,441.92 53

10 *A 39,862,964.46 9,581,348.18-49,444,312.64 *B 66,213,032.31 20,508.69 7,053,590.85 59,179,950.15 106,075,996.77 9,601,856.87 7,053,590.85 108,624,262.79 - - - - 106,075,996.77 9,601,856.87 7,053,590.85 108,624,262.79 *A 15,122,964.46 845,458.11 845,458.11 15,968,422.57 20% 29,000,000.00 108,650.40 108,650.40 29,108,650.40 36.25% 4,560,000.00 (192,760.33) (192,760.33) 4,367,239.67 42.7% 48,682,964.46 761,348.18 761,348.18 49,444,312.64 *B. 1 70,330,822.68 10 7,033,082.16 11,150,872.53 59,179,950.15 2 20,508.69 - - 20,508.69 20,508.69-70,351,331.37 - - 7,053,590.85 11,171,381.22 59,179,950.15 1 2001 5 2001 9, 2 20,508.69 11 351,225,030.20 288,218,600.01 2,137,935.00 637,305,695.21 54

893,041,914.41 431,160,891.01 8,131,454.81 1,316,071,350.61 92,321,698.19 15,639,045.73 1,151,203.24 106,809,540.68 12,587,562.47 235,145.33 855,996.67 11,966,711.13 23,286,920.01 7,842,842.03 109,254.26 31,020,507.78 1,372,463,125.28 743,096,524.11 12,385,843.98 2,103,173,805.41 26,768,763.72 15,932,685.12 83,318.51 42,618,130.33 272,642,513.37 112,152,518.92 6,258,133.33 378,536,898.96 22,389,881.90 6,401,372.26 187,378.16 28,603,876.00 6,257,279.89 1,316,113.00 379,367.95 7,194,024.94 9,044,020.75 1,496,595.77 29,748.91 10,510,867.61 337,102,459.63 137,299,285.07 6,937,946.86 467,463,797.84 1,035,360,665.65 1,635,710,007.57 : 21,465,328.51 19,981,871.86 1,013,895,337.14 1,615,728,135.71 686,665,514.67 53.24% 411,670,536.28 225,635,158.93 21,419,537.66 6,300.00 1,489,756.65 19,936,081.01 10,743.06 - - 10,743.06 35,047.79 - - 35,047.79 21,465,328.51 6,300.00 1,489,756.65 19,981,871.86 12.. 214,687,528.89 10,943,517.88 223,781,462.21-1,849,584.56 100% 20,749,238.30 6,386,169.13 27,135,407.43 - - 100% 30,262,720.85 4,618,990.97 34,881,711.82 - - 100% 55

480,638.22 79,973.20 560,611.42 - - 100% 1,116,328.05 900,435.74 2,016,763.79 - - 100% 3,598,781.32 675,262.00 4,274,043.32 - - 100% 110KV - 3,441,364.60 3,441,364.60 - - 100% - 27,945,661.08 27,945,661.08 - - 100% - 4,525,000.00 4,525,000.00 - - 100% 3,579,333.44 12,196,837.98 11,512,690.66 1,571,346.22 2,692,134.54-274,474,569.07 71,713,212.58 340,074,716.33 1,571,346.22 4,541,719.10 271,538,547.93 190,622,332.84 346,590,798.34 51,451,049.00 64,119,033.43 546,013,117.00 262,335,545.42 686,665,514.67 53,022,395.22 68,660,752.53 1,349,584.56 500,000.00 1,849,584.56 544,663,532.44 66,811,167.97 87.42% 13 70,260,915.22 61,088,100.46 7,921,462.13 32,994,281.15 850,283.50 2,101,636.13 35,164,997.94 45.87 8,550,302.52 2,554,475.72 1,360,000.00-657,541.56 5,293,368.36 3,256,934.16 7.12 3,036,589.00 358,883.28 2,619,589.00-478,298.17 536,414.89 2,500,174.11 9.56 81,847,806.74 64,001,459.46 11,901,051.13 32,994,281.15 1,986,123.23 7,931,419.38 40,922,106.21 : - - 64,001,459.46 40,922,106.21 14 13,895,423.15 4,697,264.52 7,178,345.00 2,647,331.81 4,667,145.44 9,228,277.71 3.75 * 3,787,185.88 1,690,059.81 2,097,126.07 3,787,185.88 3,787,185.88 - - 6,394,668.47 2,656,622.95 1,912,804.66 3,847,161.05 5,672,401.91 722,266.56-24,077,277.50 9,043,947.28 11,188,275.73 10,281,678.74 14,126,733.23 9,950,544.27 * 2002 7, 15 2002.12.31 2001.12.31 4.425 235,000,000.00 235,000,000.00 270,000,000.00 270,000,000.00 4.200 50,000,000.00 50,000,000.00 - - 8.333 - - 1,300,000.00 1,300,000.00 56

4.4255 280,000,000.00 280,000,000.00 120,000,000.00 120,000,000.00 565,000,000.00 391,300,000.00 44.39% 16 2002.12.31 2001.12.31 7,009,271.88 5,007,815.55 7,009,271.88 5,007,815.55 17 201,870,260.50 5% 18 3,249,481.61 5% 19 2002.12.31 2001.12.31 (26,755,208.24) (30,021,893.97) 48,664.84 14,368.95 734,830.80 28,311.69 5,892,378.92 67,442.49 1,593,013.03 216,347.17 103,548.50 57,231.33 (18,382,772.15) (29,638,192.34) 20 2002.12.31 2001.12.31 311,542.35 1,391,970.71 202,282.14 30,426.79 513,824.49 1,422,397.50 21 14,492,471.45 5% 22 57

2002.12.31 2001.12.31 440,500.15 3,350,327.97 599,298.45 2,993,412.54 1,266,302.35 1,217,552.35-966,377.20 1,418,348.00 487,492.70-134,181.66 160,741.95-1,501,516.10 842,214.55 5,386,707.00 9,991,558.97 23 2002.12.31 2001.12.31 4.95 - - 20,000,000.00 20,000,000.00 3.00 214,400.00 214,400.00 207,200.00 207,200.00 10.98 - - 100,000.00 100,000.00 6.6 - - 15,000.00 15,000.00 8.333 - - 300,000.00 300,000.00 214,400.00 20,622,200.00 24 2002.12.31 2001.12.31 5.31% 80,000,000.00 80,000,000.00 - - - 350,000.00 350,000.00 350,000.00 350,000.00 80,350,000.00 350,000.00 8,000 25 58

2002.12.31 2001.12.31 655,240.47-15,152,462.20 7,640,500.00 15,807,702.67 7,640,500.00 [2002]435 436 2002 ( ) 11,500,000.00 2002 1,800,000.00 [2001]35 2,091,004.86 2,000,000.00 26 2001.12.31 2002.12.31 1 142,484,172.00 - - 142,484,172.00 24,831,001.00 - - 24,831,001.00 2 162,221,582.00 - - 162,221,582.00 ( ) 375,330.00 - (209,235.00) 166,095.00 - - - - 329,912,085.00 - - 329,702,850.00 1 200,418,870.00-209,235.00 200,628,105.00 200,418,870.00 - - 200,628,105.00 530,330,955.00 - - 530,330,955.00 530,330,955 1 530,330,955.00 (2000) YA119 27 2001.12.31 2002.12.31 1,058,291,486.35 - - 1,058,291,486.35 * - 3,442,141.23-3,442,141.23 13,273,644.98-231,696.28 13,041,948.70 2,627.30 - - 2,627.30 1,071,567,758.63 3,442,141.23 231,696.28 1,074,778,203.58 * 59

28 2001.12.31 2002.12.31 84,953,773.63 2,236,698.87-87,190,472.50 24,415,818.24 - - 24,415,818.24 109,369,591.87 2,236,698.87-111,606,290.74 42,476,886.81 1,118,349.44-43,595,236.25 151,846,478.68 3,355,048.31-155,201,526.99 10% 5% 29 2002 10% 5% 10 0.25 2002 22,366,988.71 295,959,112.19 2,236,698.87 1,118,349.44-13,258,273.88 301,712,778.71 30 (RMB) (RMB) (RMB) 2002 2001 2002 2001 2002 2001 1,756,249,390.81 1,682,623,276.60 1,582,102,725.76 1,489,715,748.40 174,146,665.05 192,907,528.20 39,889,287.10 86,388,045.61 35,408,964.58 71,510,530.07 4,480,322.52 14,877,515.54 777,973,123.16 805,664,926.52 784,102,288.29 791,661,098.82 (6,129,165.13) 14,003,827.70 1,018,165,554.75 963,346,395.69 833,409,402.05 769,565,179.65 184,756,152.70 193,781,216.04 60

2002 2001 60,115,627.71 79,129,709.60 374,928,983.46 382,561,198.25 34,812,757.53 31,182,453.46 10,885,459.50 12,316,800.18 26,629,788.34 22,151,618.40 353,076,862.53 363,325,186.07 157,716,075.68 72,679,429.73 1,018,165,554.75 963,346,395.69 149,232,214.67 14.66% 31 2002 2001 258.21 775.00 2,543,579.23 1,089,832.45 1,090,062.38 467,071.04-153,340.84 140,468.09 5,426.22 3,774,367.91 1,716,445.55 32 (RMB) (RMB) (RMB) 2002 2001 2002 2001 2002 2001 14,219,455.03 31,222,059.71 14,382,271.67 26,307,401.17 (162,816.64) 4,914,658.54 272,540.49 4,340,922.91-3,954,765.63 272,540.49 386,157.28 489,358.30 470,930.89 194,795.93 170,870.97 294,562.37 300,059.92 2,091,596.68 168,726.29 1,736,569.84 39,736.74 355,026.84 128,989.55 17,072,950.50 36,202,639.80 16,313,637.44 30,472,774.51 759,313.06 5,729,865.29 33 27.5% 61

34 2002 2001 33,998,960.93 18,431,051.43 4,111,304.03 4,708,803.31 94,362.23 3,458,111.86 3,867,123.91 202,565.02 603,656.43 442,706.08 26,718,551.65 17,420,501.04 35 2002 2001 66,222.06 (560,247.79) ---- 761,348.18 - ---- (7,053,590.85) (4,117,790.37) (6,226,020.61) (4,678,038.16) 36 2002 2001-200,000.00-110,000.00 1,472,769.00 2,758,590.00 85,476.00 80,000.00 1,558,245.00 3,148,590.00 37 2002 2001 208,283.58 152,742.19 11,795.91 20,538.17 39,896.69-189,531.72 235,219.61 449,507.90 408,499.97 38 2002 2001 62

108,614.31 275,473.94 146,426.66 123,839.04 * 1,324,545.23 1,541,768.37 500,000.00 1,349,584.56 6,300.00 1,344,898.23 148,361.76 37,494.35 2,234,247.96 4,673,058.49 * 39 2002 18,949,249.86-449,507.90-4,111,304.03 - - 5,723,802.19-22,932,507.14-31,864,828.69-111,244,061.16-15,419,080.48 23,510,061.79 187,184,279.66 40 2002 8,820,000.00 800,000.00 9,620,000.00 41 2002 9,600,000.00 9,600,000.00 1 2002.12.31 2001.12.31 63

1 1,290,472,640.25 94.96% 10,246,231.47 1,162,593,643.64 93.01% 8,513,192.27 1~2 17,740,261.67 1.30% 1,774,026.16 48,884,593.42 3.84% 4,888,459.34 2~3 36,195,922.41 2.66% 10,952,654.04 14,588,500.96 1.15% 2,443,387.85 3 14,619,371.60 1.08% 2,974,811.76 25,494,107.34 2.00% 13,709,621.36 1,359,028,195.93 100% 25,947,723.43 1,251,560,845.36 100% 29,554,660.82 5%( 5%) ( ) 2 2002.12.31 2001.12.31 1 2,018,523.41 47.50% 100,926.17 1,372,433.26 19.25% 28,487.59 1~2 45,690.47 1.08% 4,569.05 24,455.19 0.34% 15.00 2~3 100.00-15.00 4,795,428.96 67.26% 719,314.34 3 2,185,105.14 51.42% 1,103,950.41 937,665.05 13.15% 124,061.48 4,249,419.02 100% 1,209,460.63 7,129,982.46 100% 871,878.41 5%( 5%) 3 1 : 2001.12.31 2002.12.31 1,163,186,429.45-89,470,903.59 68,889,677.80 1,183,767,655.24-66,213,032.31 - - 7,033,082.16 59,179,950.15-1,229,399,461.76-89,470,903.59 75,922,759.96 1,242,947,605.39-2) 390,000,000.00-31,878,850.55 31,200,000.00 274,407,926.68 633,207,926.68 23,268,195.49 - (1,675,922.46) - (3,650,252.75) 19,617,942.74 64

128,000,000.00 - (1,718.01) 5,120,000.00 35,037,514.16 157,917,514.16 23,000,000.00-13,303,930.97 4,140,000.00 28,158,698.15 47,018,698.15 24,000,000.00 - (5,923,286.80) 4,320,000.00 6,115,930.82 25,795,930.82 23,000,000.00 - (4,265,107.37) 2,070,000.00 4,032,487.72 24,962,487.72 20,700,000.00 38,600,000.00 (4,630,623.92) - (35,229,471.87) 24,070,528.13 13,400,000.00 - (981,393.81) - (981,393.81) 12,418,606.19 16,000,000.00 - (907,077.17) - (907,077.17) 15,092,922.83 4,850,000.00 - (944,623.72) - (2,064,598.39) 2,785,401.61 28,740,000.00-7,006,774.42-6,621,732.12 35,361,732.12 * 37,238,277.80 (22,039,677.80) (12,271,050.93) - (29,755,242.69) (14,556,642.69) 18,396,800.00-194,725.57-625,459.28 19,022,259.28 18,000,000.00 - (3,767,660.22) - (3,767,660.22) 14,232,339.78 128,119,177.32 - (5,126,261.69) - (10,743,482.24) 117,375,695.08 6,302,964.46 8,820,000.00 845,458.11-845,458.11 15,968,422.57 29,000,000.00-108,650.40-108,650.40 29,108,650.40 4,560,000.00 - (192,760.33) - (192,760.33) 4,367,239.67 936,575,415.07 25,380,322.20 12,650,903.59 46,850,000.00 268,661,917.97 1,183,767,655.24 * 4 (RMB) (RMB) (RMB) 2002 2001 2002 2001 2002 2001 696,679,879.05 633,028,123.64 696,479,204.96 632,244,824.78 200,674.09 783,298.86 696,679,879.05 633,028,123.64 696,479,204.96 632,244,824.78 200,674.09 783,298.86 5 2002 2001 66,222.06 (560,247.79) - 9,440,458.64 37,240,988.66 (7,033,082.16) (4,117,790.37) 2,473,598.54 32,562,950.50 65

( ) 1. :,... 2001.12.31 2002.12.31 RMB120,000,000.00 - - RMB120,000,000.00 RMB400,000,000.00 - - RMB400,000,000.00 RMB29,690,000.00 - - RMB29,690,000.00 USD5,000,000.00 - - USD5,000,000.00 RMB25,000,000.00 - - RMB25,000,000.00 RMB21,700,000.00 - - RMB21,700,000.00 RMB130,000,000.00 - - RMB130,000,000.00 RMB25,000,000.00 - - RMB25,000,000.00 RMB25,000,000.00 - - RMB25,000,000.00 RMB22,000,000.00 RMB45,000,000.00 - RMB67,000,000.00 - RMB15,000,000.00 - RMB15,000,000.00 - RMB18,000,000.00 - RMB18,000,000.00 RMB5,000,000.00 - - RMB5,000,000.00 RMB44,970,000.00 - - RMB44,970,000.00 RMB20,000,000.00 - - RMB20,000,000.00 RMB189,000,000.00 - - RMB189,000,000.00 66

2001.12.31 2002.12.31 RMB % RMB RMB RMB % 142,484,171.85 26.87% - - 142,484,171.85 26.87% 390,000,000.00 97.5% - - 390,000,000.00 97.5% 28,740,000.00 96.8% - - 28,740,000.00 96.8% 23,268,195.49 55% - - 23,268,195.49 55% 23,000,000.00 92% - - 23,000,000.00 92% 15,198,600.00 70% - - 15,198,600.00 70% 128,000,000.00 98.46% - - 128,000,000.00 98.46% 24,000,000.00 96% - - 24,000,000.00 96% 23,000,000.00 92% - - 23,000,000.00 92% 20,700,000.00 94.09% 38,600,000.00-59,300,000.00 94.77% - - 13,400,000.00-13,400,000.00 94.00% - - 16,000,000.00-16,000,000.00 94.07% 4,850,000.00 97% - - 4,850,000.00 97% 18,396,800.00 40.91% - - 18,396,800.00 40.91% 18,000,000.00 90% - 18,000,000.00 90% 110,250,000.00 58.33% - - 110,250,000.00 58.33% 2. * * ( ) ( ) 1. 2002 2001 4,707,351.75 28,107,810.17 67

- 86,299,596.50 4,762,013.93 49,124,311.31 4,120,578.05 9,066,419.22-1,160,926.12 11,173,076.29 2,183,878.05 769,280.77 764,297.51 1,731,330.50 682,993.84 7,097,148.13 596,123.48 2,892.633.87 257,348.00 1,619,520.88-3,801,041.26-111,743.99 1,220,914.57 42,785,719.42 179,464,618.77 2001 5 2001 86,299,596.50 2. 2002 2001 160,707,031.32 70,372,246.21 27,192,862.78 21,451,634.93 8,656,587.84 7,414,741.23 26,893,336.86 22,860,018.42 15,744,829.06-18,324,786.23-1,698,400.74 211,030.70-4,902,828.85 24,683.06 6,077,309.78 347,193.01 847,559.97 1,068,621.79-15,705.00 2,862,778.11 651,275.15 1,157,458.45 261,325,312.84 138,157,606.65 2001 5 68

: 3. 2002 2001 RMB RMB - 1,134,220.00 3,870,608.02 12,347,569.27-880,000.00 3,870,608.02 14,361,789.27 :. 4. 3.65 5. 2002 2001 RMB RMB 911,229.25 739,039.44 44,196,980.27 37,854,612.61 15,432,358.38 13,043,637.58 6. 2002 2002 1,715,192.08 582,119.21 655,082.60 20 1 10 20 3 10 19 7. 2002 179,678,048.48 172,875,239.35 10,375,801.29 69

( ) 2002.12.31 2001.12.31 RMB RMB 25,993,551.87 19,589,787.17 ( ) 10,375,801.29 3,572,992.16 * 67,419,280.21 - - 8,141,531.87 * 67,419,280.21 40,600,000.00 2.73% 108,019,280.21 2002 12 31 2002 12 31 2002 12 31 2003 4 21 2003 26.91% 2002 1,000 3,969 97.6% 2002 2000 12 29 70

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