2003 FENGHUA ADVANCED TECHNOLOGY HOLDING CO., LTD. 2003 ОО

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2003 2

2003 FENGHUA ADVANCED TECHNOLOGY HOLDING CO., LTD. 000636 18 18 526020 http://www.fenghua-advanced.com 000636@china-fenghua.com 18 0758-2844724 0758-2849045 000636@china-fenghua.com http://www.cninfo.com.cn 1994 3 23 24 2000 9 30 18 4400001001279 441201502100006 01 3

2003 2072 8 1,299,859,949.08 1,281,126,462.99 876,823,937.67 800,194,256.81 3,142,068,768.40 3,123,162,679.94 2,078,621,110.00 2,062,023,464.28 3.92 3.888 3.83 3.829 2003 1-6 2002 1-6 16,511,493.31 16,184,420.62 18,870,975.47 18,990,544.49 155,706,958.97 60,257,006.69 (%) 0.79 0.779 0.0311 0.0305 313.34 763,794.00 150,513.98 173,941.60 3,516,541.08 416,379.20-2,359,482.16 + - 4

2003 ( ) 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 4 166,095 +1,000 +1,000 167,095 329,702,850 329,703,850 ( ) 1 200,628,105 2 3 4 200,628,105-1,000-1,000 200,627,105 200,627,105 ( ) 530,330,955 530,330,955 90,520 (%) ( ) ( ) 1 0 142,484,170 26.87 66,825,000 2 0 42,335,000 7.98 0 3 0 26,775,000 5.05 0 4 0 22,380,300 4.22 0 5 0 20,211,000 3.81 0 6 0 16,725,000 3.15 0 7 0 14,134,700 2.67 6,000,000 8 0 8,100,000 1.53 0 9 0 5,625,000 1.06 0 10 0 4,050,000 0.76 800,000 1 440 2003 4 15 2 1,000 5

2003 2003 5 28 2002 2003 1-6 2002 1-6 % 428,356,159.78 452,984,987.19-5.44 101,897,720.82 83,249,694.02 22.40 18,412,573.70 14,777,480.86 24.60 46,084,072.79 39,732,764.59 15.99 12,895,188.38 8,838,036.22 45.91-5,848,241.98-3,012,611.38-94.13 20,702,375.60 17,467,343.18 18.52 3,265,266.60 2,620,101.48 24.62 16,511,493.31 16,184,420.62 2.02 155,706,958.97 60,257,006.69 158.40-8,656,105.74 145,798,433.11-105.94 1 5.44% 2 22.40% 3 24.60% 4 15.99% 5 45.91% 6 94.13% 7 18.52% 8 24.62% 6

2003 9 2.02% 10 158.40% 11 105.94% 2003 6 30 2002 12 31 % 381,901,884.87 374,394,782.39 2.01 450,061,202.35 429,959,310.55 4.68 120,818,948.67 66,811,167.97 80.84 56,466,008.40 7,009,271.88 705.60 876,823,937.67 800,194,256.81 9.58 4,350,000.00 80,350,000.00-94.59 21,716,767.97 96,406,286.29-77.47 2,078,621,110.00 2,062,023,464.28 0.80 3,142,068,768.40 3,123,162,679.94 0.61 1 2 3 4 5 6 7 IT PC 7

2003 MLCC MLCC 42,835.62 5.44% 1,651.15 2.02% 10% 1 % 376,667,334.65 290,300,495.42 22.93 51,688,825.13 32,413,054.75 37.29 428,356,159.78 322,713,550.17 24.66 2 % 259,721,260.46 189,343,999.36 27.10 54,955,201.93 44,463,817.67 19.09 113,679,697.39 88,908,733.14 21.79 428,356,159.78 322,713,550.17 24.66 3 % 316,350,014.43 7.29 112,006,145.35-29.17 428,356,159.78-5.43 10% 1 2 8

2003 9 3 0402 2003 9 1 2002

2003 11,462,592.74 5.80% 3,634,387.53 1.84% 4,560,563.81 2.31% 4,374,377.97 2.21% 5,881,422.69 2.98% 29,913,344.74 15.14% 77,156,548.44 18.01% 1,765,114.94 0.41% 7,105,003.00 1.67% -15,744,829.06-3.68% -18,324,786.33-4.28% 51,957,050.99 12.13% 3.65 / 17,652,208.27 / 6,880,036.52 5,357,852.49 4,095,980.42 10,089.76 10

2003 9,740.79 4,060 34,669,907.92 25,375,087.74 13,865,561.81 5% 5% 2003 6 16 20 2003 [2003]333 11

2003 2003-6-30 2002-12-31 1 363,125,664.93 371,781,770.67 2 26,212,660.50 2,345,993.99 3 14,234,874.04 26,971,165.54 4 381,901,884.87 374,394,782.39 5 15,925,300.67 16,538,519.82 6 42,208,356.57 31,614,354.89 7 -- 22,193,123.22 8 450,061,202.35 429,959,310.55 9 6,190,005.15 5,327,441.92 1,299,859,949.08 1,281,126,462.99 10 104,627,721.71 108,624,262.79 -- -- 104,627,721.71 108,624,262.79 11 2,132,324,085.36 2,103,173,805.41 11 545,007,079.39 467,463,797.84 11 1,587,317,005.97 1,635,710,007.57 11 19,962,448.04 19,981,871.86 11 1,567,354,557.93 1,615,728,135.71 12 120,818,948.67 66,811,167.97 -- -- 1,688,173,506.60 1,682,539,303.68 13 40,798,605.75 40,922,106.21 14 8,608,985.26 9,950,544.27 -- -- 49,407,591.01 50,872,650.48 3,142,068,768.40 3,123,162,679.94 12

2003 2003-6-30 2002-12-31 15 585,900,000.00 565,000,000.00 16 56,466,008.40 7,009,271.88 17 207,576,989.27 201,870,260.50 18 5,281,791.92 3,249,481.61 409,736.98 308,672.87 5,753,589.17 4,319,747.69 16,182,778.39 16,212,191.47 19 (21,531,023.74) (18,382,772.15) 20 996,507.98 513,824.49 21 13,824,219.30 14,492,471.45 22 5,748,940.00 5,386,707.00 23 214,400.00 214,400.00 876,823,937.67 800,194,256.81 24 4,350,000.00 80,350,000.00 248,583.62 248,583.62 25 17,118,184.35 15,807,702.67 -- -- 21,716,767.97 96,406,286.29 -- -- 898,540,705.64 896,600,543.10 164,906,952.76 164,538,672.56 26 530,330,955.00 530,330,955.00 27 1,074,864,355.99 1,074,778,203.58 28 157,678,250.99 155,201,526.99 28 44,420,810.92 43,595,236.25 29 315,747,548.02 301,712,778.71 -- -- 2,078,621,110.00 2,062,023,464.28 3,142,068,768.40 3,123,162,679.94 13

2003 2003 1-6 2002 1-6 2002 30 428,356,159.78 452,984,987.19 1,018,165,554.75 30 322,713,550.16 369,292,643.71 833,409,402.05 31 3,744,888.80 442,649.46 3,774,367.91 101,897,720.82 83,249,694.02 180,981,784.79 32 1,304,365.25 867,253.03 759,313.06 18,412,573.70 14,777,480.86 36,301,070.83 46,084,072.79 39,732,764.59 85,067,543.36 33 12,895,188.38 8,838,036.22 26,718,551.65 25,810,251.20 20,768,665.38 33,653,932.01 34 (5,848,241.98) (3,012,611.38) (6,226,020.61) 35 763,794.00 714,717.00 1,558,245.00 36 150,513.98 293,657.09 449,507.90 37 173,941.60 1,297,084.91 2,234,247.96 20,702,375.60 17,467,343.18 27,201,416.34 3,265,266.60 2,620,101.48 6,898,696.27 925,615.69 (1,259,380.57) (4,092,490.71) -- 77,798.35 (2,028,222.07) 16,511,493.31 16,184,420.62 22,366,988.71 301,712,778.71 295,959,112.19 295,959,112.19 318,224,272.02 312,143,532.81 318,326,100.90 1,651,149.33 1,618,442.06 2,236,698.87 825,574.67 809,221.03 1,118,349.44 315,747,548.02 309,715,869.72 314,971,052.59 -- -- -- -- -- 13,258,273.88 315,747,548.02 309,715,869.72 301,712,778.71 2003 1-6 2002 1-6 2002 1. -- -- -- 2. -- -- -- 3. -- -- -- 4. -- -- -- 5. -- -- -- 6. -- -- -- 14

2003 2003 1-6 477,828,330.85 22,193,123.22 38 8,434,928.00 508,456,382.07 191,962,110.12 56,093,548.16 21,981,416.84 38 82,712,347.98 352,749,423.10 155,706,958.97 -- 480,313.34 68,387.02 548,700.36 68,682,904.72 39 26,198,680.75 -- 94,881,585.47 (94,332,885.11) -- -- 309,900,000.00 -- 309,900,000.00 365,000,000.00 14,930,179.60 379,930,179.60 (70,030,179.60) -- (8,656,105.74) 15

2003 2003 1-6 1 16,511,493.31 -- 925,615.69 14,733,797.81 80,234,800.93 926,500.46 1,666,834.01 (862,563.23) 362,233.00 ( ) (68,387.02) 15,814,672.22 3,516,227.74 (26,004,778.04) -- (8,954,391.85) 56,904,903.94 155,706,958.97 2 -- -- -- 3 363,125,664.93 371,781,770.67 -- -- (8,656,105.74) 16

2003 2003-6-30 2002-12-31 332,105,019.33 339,287,605.82 26,212,660.50 2,345,993.99 8,515,954.36 21,412,415.00 1 1,287,482,817.89 1,333,080,472.50 2 6,181,893.71 3,039,958.39 1,135,172.96 1,957,659.78 -- 22,193,123.22 55,565,958.40 8,330,897.73 315,841.46 170,257.43 1,717,515,318.61 1,731,818,383.86 3 1,258,796,446.01 1,242,947,605.39 -- -- 1,258,796,446.01 1,242,947,605.39 640,457,788.89 637,162,047.34 78,247,686.93 61,112,377.30 562,210,101.96 576,049,670.04 1,025,825.85 1,025,825.85 561,184,276.11 575,023,844.19 12,687,805.49 10,470,360.04 573,872,081.60 585,494,204.23 18,099,379.71 18,207,079.71 5,745,327.23 6,508,553.88 23,844,706.94 24,715,633.59 3,574,028,553.16 3,584,975,827.07 17

2003 2003-6-30 2002-12-31 584,900,000.00 565,000,000.00 9,331,000.00 -- 841,591,541.03 821,846,061.54 -- -- 233,001.80 91,852.11 16,181,839.11 16,211,252.19 (15,350,824.33) (17,568,851.12) 831,080.66 236,810.57 7,942,603.69 8,304,023.45 1,018,016.84 1,385,120.35 -- -- 1,446,678,258.80 1,395,506,269.09 4,000,000.00 80,000,000.00 -- -- -- 4,028,000.00 4,000,000.00 84,028,000.00 1,450,678,258.80 1,479,534,269.09 530,330,955.00 530,330,955.00 1,089,814,000.18 1,089,727,847.77 157,678,250.99 155,201,526.99 44,420,810.92 43,595,236.25 345,527,088.19 330,181,228.22 2,123,350,294.36 2,105,441,557.98 3,574,028,553.16 3,584,975,827.07 18

2003 2003 1-6 2002 1-6 2002 4 330,523,105.40 329,670,409.52 696,679,879.05 4 306,700,207.56 343,680,292.40 696,479,204.96 2,319,324.70 (40,140.29) 2,404.54 21,503,573.14 (13,969,742.59) 198,269.55 -- -- -- 8,786,650.24 (1,516,635.49) (3,694,207.19) 17,538,895.54 10,463,890.98 20,939,647.06 (14,795,041.90) (15,935,314.00) (28,084,486.32) 9,973,069.26 (6,981,684.08) 11,037,316.00 5 10,350,987.31 29,250,543.34 2,473,598.54 763,794.00 679,241.00 1,472,769.00 -- -- 66,313.45 -- -- 500,000.00 21,087,850.57 22,948,100.26 14,549,996.99 3,265,266.60 -- -- 17,822,583.97 22,948,100.26 14,549,996.99 330,181,228.22 332,244,553.42 332,244,553.42 348,003,812.19 355,192,653.68 346,794,550.41 1,651,149.33 1,618,442.06 2,236,698.87 825,574.67 809,221.03 1,118,349.44 345,527,088.19 352,764,990.59 343,439,502.10 -- -- -- -- -- 13,258,273.88 345,527,088.19 352,764,990.59 330,181,228.22 2003 1-6 2002 1-6 2002 1. -- -- -- 2. -- -- -- 3. -- -- -- 4. -- -- -- 5. -- -- -- 6. -- -- -- 19

2003 2003 1-6 357,907,420.93 22,193,123.22 79,738,969.55 459,839,513.70 302,652,592.00 6,004,450.48 9,953,615.44 67,732,747.83 386,343,405.75 73,496,107.95 -- 6,920,313.34 28,605,304.13 -- -- 35,525,617.47 7,195,186.98 36,198,680.75 -- 43,393,867.73 (7,868,250.26) 308,900,000.00 -- 308,900,000.00 365,000,000.00 16,710,444.18 -- 381,710,444.18 (72,810,444.18) -- (7,182,586.49) 20

2003 2003 1-6 1 17,822,583.97 -- 4,495,432.09 17,144,641.12 107,700.00 763,226.65 (145,584.03) (367,103.51) ( ) -- (12,039,205.65) (12,683,001.55) (47,235,060.67) -- 69,364,687.56 36,267,791.97 -- 73,496,107.95 2 -- -- -- 3 332,105,019.33 339,287,605.82 -- -- (7,182,586.49) 21

2003 1 2002 12 31 2003 6 30 34,283,578.71 4,754,682.77 7,626,209.54 31,412,051.94 31,360,403.98 4,690,742.90 6,481,340.71 29,569,806.17 2,923,174.73 63,939.87 1,144,868.83 1,842,245.77 988,522.01 2,332,014.24 -- 3,320,536.25 988,522.01 2,332,014.24 -- 3,320,536.25 -- -- -- -- 25,730,982.36 7,647,100.80 1,744,214.56 31,633,868.60 22,194,967.56 7,460,879.26 142,993.18 29,512,853.64 1,992,641.95 5,585.78 654,792.03 1,343,435.70 1,526,932.63 -- 946,429.35 580,503.28 16,440.22 180,635.76 -- 197,075.98 -- -- -- -- -- -- -- -- -- -- -- -- 19,981,871.86 -- 19,423.82 19,962,448.04 -- -- -- -- 19,936,081.01 -- 19,423.82 19,916,657.19 10,743.06 -- -- 10,743.06 35,047.79 -- -- 35,047.79 -- -- -- -- -- -- -- -- -- -- -- -- 1,849,584.56 -- 1,849,584.56 -- -- -- -- -- 22

2003 2 2003 1-6 2002 530,330,955.00 530,330,955.00 -- -- -- -- -- -- -- -- -- -- -- -- 530,330,955.00 530,330,955.00 1,074,778,203.58 1,071,567,758.63 86,152.41 3,442,141.23 -- -- -- 3,442,141.23 86,152.41 -- -- 231,696.28 -- -- 1,074,864,355.99 1,074,778,203.58 111,606,290.74 109,369,591.87 1,651,149.33 2,236,698.87 1,651,149.33 2,236,698.87 1,651,149.33 2,236,698.87 -- -- -- -- -- -- -- -- -- -- -- -- 113,257,440.07 111,606,290.74 88,841,621.83 87,190,472.50 43,595,236.25 42,476,886.81 825,574.67 1,118,349.44 825,574.67 1,118,349.44 -- -- 44,420,810.92 43,595,236.25 301,712,778.71 295,959,112.19 16,511,493.31 22,366,988.71 2,476,724.00 16,613,322.19 315,747,548.02 301,712,778.71 23

2003 3 2003-6-30 1 (16,705,321.92) 2 76,189,905.24 28,552,068.98 22,466.21 4,704,937.27 3 65,479,740.94 6,499,825.71 -- 28,157,274.18 6,904,663.38 4 (14,277,448.43) 1 (10,049,886.32) 2 2,199,726.11 3 4,908,387.31 4 (12,758,547.52) 24

2003 2003 1-6 ( / ) 4.90% 4.92% 0.192 0.192 1.24% 1.25% 0.049 0.049 0.79% 0.80% 0.031 0.031 0.91% 0.91% 0.036 0.036. 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. ( ) 313.34 2. 763,794.00 3. 150,513.98 4. ( )173,941.60 ;5. 3,516,541.08 (2,775,861.36) 2,359,482.16 25

2003 2003 6 30 [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 26

2003 6 7 8 ( ) 1 5%1-2 10% 2-3 15%3 20% 100% a., ; b., 9 10 1 a. 27

2003 28 b. C. d. 20% 20% 20% 20% 2, 3 11, 2000

2003 a., b. ( 5%) : 35 2.71% 5-10 19-9.5% 5-10 19-9.5% 6 15.83% 5 19% 12 13 1),, a. b. c. 2) a., b., 3) 3 4) 29

2003 14, 10 a. 50 b. 10 15 a. b. 16 1) 2) 3), 1), 2), 17 ( ) 30

2003 18 19 50% 17% 5% 15% 7% 3% 1% 1. RMB40,000 RMB3,969 RMB39,000 97.50%. RMB3,874 97.61% 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% RMB6,700 RMB1,500 RMB1,800 RMB5,930 94.77% RMB1,340 94.00% RMB1,600 94.07% RMB500 RMB485 97% * RMB4,497 RMB1,839.68 40.91% RMB2,000 RMB1,800 90% RMB18,900 RMB19,845 58.33% 31

2003 * 50% RMB550 RMB480 87.27%. RMB2,913.90 RMB2,879.50 98.82%. RMB752.60 RMB702.60 93.36% RMB3,000 RMB2,700 90% RMB651.40 RMB387 59.41%.. 2. RMB2,500 RMB1,512.29 20%. RMB8,000 RMB2,900 36.25%. RMB1,068 RMB456 42.7%. 1 2003.6.30 2002.12.31 RMB 123,123.18 123,123.18 195,754.67-195,754.67 HKD 36,884.50 1.0615 39,138.14 40,884.50 1.0611 43,378.14 162,261.32 239,132.81 RMB 350,857,402.01 350,857,402.01 363,334,225.29-363,334,225.29 HKD 5,510,395.64 1.0615 5,847,080.81 5,510,395.64 1.0611 5,847,080.81 USD 171.66 8.2774 1,420.81 171.66 8.2773 1,420.82 356,705,903.63 369,182,726.92 RMB 6,257,499.98 6,257,499.98 2,359,910.94-2,359,910.94 363,125,664.93 371,781,770.67 2 2003.6.30 2002.12.31 29,533,196.75 3,320,536.25 3,334,516.00 988,522.01 29,533,196.75 3,320,536.25 3,334,516.00 988,522.01 32

2003 29,533,196.75 3,320,536.25 3,334,516.00 988,522.01 26,198,680.75 3 2003.6.30 2002.12.31 6,328,179.20 200,000.00 6,324,449.84 26,771,165.54 1,542,245.00-40,000.00-14,234,874.04 26,971,165.54 47.22% 4 2003.6.30 2002.12.31 1 334,688,701.24 81.34% 14,877,824.90 329,692,509.99 81.25% 12,956,459.80 1~2 21,296,978.04 5.18% 2,129,697.80 21,427,310.98 5.28% 2,142,731.10 2~3 14,911,639.57 3.62% 2,236,745.94 38,280,811.36 9.44% 11,961,822.90 3 40,574,372.19 9.86% 10,325,537.53 16,354,554.04 4.03% 4,299,390.18 411,471,691.04 100% 29,569,806.17 405,755,186.37 100% 31,360,403.98 5% 5% 70,965,293.57 17.25% 5 2003.6.30 2002.12.31 1 11,314,902.42 63.68% 565,745.12 7,629,405.48 39.20% 381,470.27 1~2 964,203.78 5.43% 96,420.38 3,264,383.21 16.77% 326,438.32 2~3 1,809,996.88 10.19% 271,499.53 2,428,624.06 12.48% 364,293.61 3 3,678,443.36 20.70% 908,580.74 6,139,281.80 31.55% 1,850,972.53 17,767,546.44 100% 1,842,245.77 19,461,694.55 100% 2,923,174.73 5% 5% 2,824,394.86 15.90% 33

2003 6 2003.6.30 2002.12.31 1 38,601,882.44 91.46% 30,352,520.52 96.01% 1-2 2,814,482.63 6.67% 1,078,494.38 3.41% 2-3 315,904.38 0.75% 183,339.99 0.58% 3 476,087.12 1.12% - - 42,208,356.57 100% 31,614,354.89 100% 5% 5% 17,153,616.00 40.64% 33.51% 7 2003.6.30 2002.12.31-22,193,123.22-22,193,123.22 8 2003.6.30 2002.12.31 87,175,990.69 1,343,435.70 89,527,015.63 1,992,641.95 141,818,901.21 580,503.28 129,550,160.75 1,526,932.63 245,642,810.11 29,512,853.64 229,096,106.73 22,194,967.56 2,288,503.80 197,075.98 2,294,336.80 16,440.22 21,501.43-2,181.71 - - - 679,243.98-48,328.52-27,659.37-4,699,035.19-4,513,587.94-481,695,070.95 31,633,868.60 455,690,292.91 25,730,982.36 9 3,323,387.48 3,349,243.79 1,925,414.88 4,747,216.39 2,004,054.44 1,542,540.36 2,103,806.04 1,442,788.76 5,327,441.92 4,891,784.15 4,029,220.92 6,190,005.15 34

2003 10 *A 49,444,312.64-480,000.00 48,964,312.64 *B 59,179,950.15-3,516,541.08 55,663,409.07 108,624,262.79-3,996,541.08 104,627,721.71 - - - - 108,624,262.79-3,996,541.08 104,627,721.71 *A * 15,122,964.46 (480,000.00) 365,458.11 15,488,422.57 20% 29,000,000.00-108,650.40 29,108,650.40 36.25% 4,560,000.00 - (192,760.33) 4,367,239.67 42.7% 48,682,964.46 (480,000.00) 281,348.18 48,964,312.64 * 480,000.00 *B. 70,330,822.68 10 3,516,541.08 14,667,413.61 55,663,409.07 70,330,822.68 3,516,541.08 14,667,413.61 55,663,409.07 2001 5 2001 9 11 637,305,695.21 5,040,861.04 1,988,347.11 640,358,209.14 792,879,812.96 26,190,502.67 9,247,178.88 809,823,136.75 618,066,522.18 8,573,817.50 1,607,801.87 625,032,537.81 12,153,631.13 250,000.00-12,403,631.13 42,768,143.93 2,745,277.74 806,851.14 44,706,570.53 2,103,173,805.41 42,800,458.95 13,650,179.00 2,132,324,085.36 42,760,692.77 10,122,965.30 1,951.26 52,881,706.81 213,839,911.18 41,996,056.07 1,793,275.10 254,042,692.15 187,389,335.69 25,029,055.98 721,100.99 211,697,290.68 7,284,613.38 692,421.31-7,977,034.69 16,189,244.82 2,394,302.27 175,192.03 18,408,355.06 467,463,797.84 80,234,800.93 2,691,519.38 545,007,079.39 1,635,710,007.57 1,587,317,005.97 : 19,981,871.86 19,962,448.04 1,615,728,135.71 1,567,354,557.93 35

2003 32,580,057.48 411,670,536.28 228,687,672.86 19,936,081.01-19,423.82 19,916,657.19 10,743.06 - - 10,743.06 35,047.79 - - 35,047.79 19,981,871.86-19,423.82 19,962,448.04 12.. 1,849,584.56 1,146,512.00 1,146,512.00 1,849,584.56-100% - 843,017.27 548,256.39-294,760.88 90% - 361,480.40 189,939.80-171,540.60 90% 641,622.05 - - - 641,622.05-18,780.00 - - 18,780.00 90% 110KV - 304,158.61 304,158.61 - - 100% - 90,012.32 90,012.32 - - 100% - 1,164,013.00 1,164,013.00 - - 100% 3-1,597,968.92 1,597,968.92 - - 100% 21 1,800,000.00 1,060,209.66 - - 2,860,209.66 90% 250,512.49 672,154.31 - - 922,666.80-4,541,719.10 7,258,306.49 5,040,861.04 1,849,584.56 4,909,579.99 64,119,033.43 79,668,645.08 27,539,196.44 339,113.39 115,909,368.68 68,660,752.53 86,926,951.57 32,580,057.48 2,188,697.95 120,818,948.67 1,849,584.56-66,811,167.97 120,818,948.67 13 37,266,634.07 35,164,997.94 - - 417,272.50 2,518,908.63 34,747,725.44 45.37 8,550,302.52 3,256,934.16 - - 212,460.84 5,505,829.20 3,044,473.32 6.62 3,839,589.00 2,500,174.11 803,000.00-296,767.12 833,182.01 3,006,406.99 9.06 49,656,525.59 40,922,106.21 803,000.00-926,500.46 8,857,919.84 40,798,605.75 : - - 40,922,106.21 40,798,605.75 36

2003 14 13,935,768.03 9,228,277.71 40,344.88 1,415,671.05 6,082,816.49 7,852,951.54 3.25 6,679,598.59 722,266.56 284,930.12 251,162.96 5,923,564.87 756,033.72-20,615,366.62 9,950,544.27 325,275.00 1,666,834.01 12,006,381.36 8,608,985.26 15 2003.6.30 2002.12.31 4.425 174,900,000.00 174,900,000.00 235,000,000.00 235,000,000.00 4.20375 10,000,000.00 10,000,000.00 - - 3.9825 140,000,000.00 140,000,000.00 - - 6.903% 1,000,000.00 1,000,000.00 - - 4.200 - - 50,000,000.00 50,000,000.00 4.4250 140,000,000.00 140,000,000.00 - - 4.20375 90,000,000.00 90,000,000.00 - - 4.200 30,000,000.00 30,000,000.00 - - 4.4255 - - 280,000,000.00 280,000,000.00 585,900,000.00 565,000,000.00 16 2003.6.30 2002.12.31 11,056,008.40 7,009,271.88 45,410,000.00-56,466,008.40 7,009,271.88 17 207,576,989.27 5% 18 5,281,791.92 5% 37

2003 19 2003.6.30 2002.12.31 (27,035,995.95) (26,755,208.24) 48,666.39 48,664.84 2,106,368.57 734,830.80 2,929,867.20 5,892,378.92 268,661.69 1,593,013.03 151,408.36 103,548.50 (21,531,023.74) (18,382,772.15) 20 2003.6.30 2002.12.31 794,181.17 311,542.35 202,326.81 202,282.14 996,507.98 513,824.49 21 13,824,219.30 5% 22 2003.6.30 2002.12.31 496,268.93 440,500.15 623,955.28 599,298.45 2,180,208.05 1,266,302.35 1,179,070.60 1,418,348.00 554,595.76 160,741.95 714,841.38 1,501,516.10 5,748,940.00 5,386,707.00 23 2003.6.30 2002.12.31 3.00 214,400.00 214,400.00 214,400.00 214,400.00 214,400.00 214,400.00 38

2003 24 2003.6.30 2002.12.31 5.31% - - 80,000,000.00 80,000,000.00 2.79% 4,000,000.00 4,000,000.00 - - - 350,000.00 350,000.00 350,000.00 350,000.00 4,350,000.00 80,350,000.00 25 2003.6.30 2002.12.31-655,240.47 14,118,184.35 15,152,462.20 3,000,000.00-17,118,184.35 15,807,702.67 [2003]9 2002 300 26 2002.12.31 2003.6.30 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 ( ) 166,095.00 - - 166,095.00 - - 329,702,850.00 - - 329,702,850.00 1 200,628,105.00 - - 200,628,105.00 200,628,105.00 - - 200,628,105.00 530,330,955.00 - - 530,330,955.00 530,330,955 1 530,330,955.00 (2000) YA119 39

2003 27 2002.12.31 2003.6.30 1,058,291,486.35 - - 1,058,291,486.35 3,442,141.23 - - 3,442,141.23 13,041,948.70 - - 13,041,948.70 2,627.30 - - 2,627.30-86,152,41-86,152,41 1,074,778,203.58 86,152.41-1,074,864,355.99 28 2002.12.31 2003.6.30 87,190,472.50 1,651,149.33-88,841,621.83 24,415,818.24 - - 24,415,818.24 111,606,290.74 1,651,149.33-113,257,440.07 43,595,236.25 825,574.67-44,420,810.92 155,201,526.99 2,476,724.00-157,678,250.99 10% 5% 29 2003 1-6 10% 5% 2003 1-6 16,511,493.31 301,712,778.71 1,651,149.33 825,574.67 - - 315,747,548.02 30 40

2003 (RMB) (RMB) (RMB) 2003 1-6 2002 1-6 2003 1-6 2002 1-6 2003 1-6 2002 1-6 953,167,054.88 846,657,082.08 848,230,096.64 762,100,894.13 104,936,958.24 84,556,187.95 32,234,674.78 22,996,643.35 30,217,932.74 19,716,909.66 2,016,742.04 3,279,733.69 557,045,569.88 416,668,738.24 555,734,479.22 412,525,160.08 1,311,090.66 4,143,578.16 428,356,159.78 452,984,987.19 322,713,550.16 369,292,643.71 105,642,609.62 83,692,343.48 2003 1-6 2002 1-6 36,457,513.06 30,254,898.73 238,097,420.84 217,535,022.18 19,171,169.04 23,677,561.12 3,025,975.65 8,725,665.53 19,553,713.11 13,726,991.87 112,006,145.35 158,127,834.61 44,222.73 937,013.15 428,356,159.78 452,984,987.19 75,644,346.23 17.66% 31 2003 1-6 2002 1-6 2,614,071.02 309,595.01 1,116,749.19 130,316.72-231.67 14,068.59 2,506.06 3,744,888.80 442,649.46 32 (RMB) (RMB) (RMB) 2003 1-6 2002 1-6 2003 1-6 2002 1-6 2003 1-6 2002 1-6 41

2003 8,731,758.10 4,933,976.91 7,729,671.49 4,618,378.69 1,002,086.61 315,598.22 46,194.10 562,015.70 6,711,96 227.35 39,482.14 561,788.35 282,511.96 669,430.68 143,880.41 417,846.97 138,631.55 251,583.71 972,000.00-971,814.30-185.70-720,103.79 102,182.10 596,124.54 363,899.35 123,979.25-261,717.25 10,752,567.95 6,267,605.39 9,448,202.70 5,400,352.36 1,304,365.25 867,253.03 33 2003 1-6 2002 1-6 15,814,672.22 15,754,080.27 2,952,260.66 2,871,796.28 317.34 105,881.13 5,442.37 4,485,769.96 37,901.85 335,641.06 12,895,188.38 8,838,036.22 34 2003 1-6 2002 1-6 (2,331,700.90) 503,929.70 ---- - - ---- (3,516,541.08) (3,516,541.08) (5,848,241.98) (3,012,611.38) 35 2003 1-6 2002 1-6 763,794.00 679,241.00-35,476.00 763,794.00 714,717.00 36 2003 1-6 2002 1-6 125,788.75 173,947.68 1,080.00 2,726.70 23,645.23 116,982.71 150,513.98 293,657.09 37 2003 1-6 2002 1-6 42

2003 57,401.73 282,483.77-99,775.63 876,523.99 - - 16,764.24 138,077.15 173,941.60 1,297,084.91 38 2003 1-6 3,763,794.00 1,718,873.34 2,952,260.66 1,689,518.32 12,303,789.64 14,685,215.84 53,365,572.03 668,252.15 8,434,928.00 82,712,347.98 39 2003 1-6 26,198,680.75 26,198,680.75 1 2003.6.30 2002.12.31 1 1,240,118,617.75 94.64% 11,411,587.22 1,290,472,640.25 94.96% 10,246,231.47 1~2 19,038,607.60 1.45% 1,903,860.76 17,740,261.67 1.30% 1,774,026.16 2~3 13,735,759.71 1.05% 2,060,363.96 36,195,922.41 2.66% 10,952,654.04 3 37,391,638.54 2.86% 7,425,993.77 14,619,371.60 1.08% 2,974,811.76 1,310,284,623.60 100% 22,801,805.71 1,359,028,195.93 100% 25,947,723.43 5%( 5%) ( ) 2 2003.6.30 2002.12.31 43

2003 1 4,428,681.65 66.66% 75,141.91 2,018,523.41 47.50% 100,926.17 1~2 6,936.00 0.10% 693.60 45,690.47 1.08% 4,569.05 2~3 1,109,492.58 16.70% 166,423.89 100.00-15.00 3 1,098,803.60 16.54% 219,760.72 2,185,105.14 51.42% 1,103,950.41 6,643,913.83 100% 462,020.12 4,249,419.02 100% 1,209,460.63 5%( 5%) 3 1 : 2002.12.31 2003.6.30 1,183,767,655.24-26,285,381.70 6,920,000.00 1,203,133,036.94-59,179,950.15 - - 3,516,541.08 55,663,409.07-1,242,947,605.39-26,285,381.70 10,436,541.08 1,258,796,446.01-2) 390,000,000.00-5,350,790.86-248,558,717.54 638,558,717.54 23,268,195.49 1,066,626.45 - (2,583,626.30) 20,684,569.19 128,000,000.00-3,056,504.43-32,974,018.59 160,974,018.59 23,000,000.00-12,178,450.53 6,440,000.00 36,197,148.68 52,757,148.68 24,000,000.00 - (2,098,939.20) - (303,008.38) 23,696,991.62 23,000,000.00 - (2,650,168.82) - (687,681.10) 22,312,318.90 59,300,000.00 (622,579.10) - (35,852,050.97) 23,447,949.03 13,400,000.00-27,237.44 - (954,156.37) 12,445,843.63 16,000,000.00 - (734,663.33) - (1,641,740.50) 14,358,259.50 4,850,000.00 - (1,191,363.90) - (3,169,809.88) 1,680,190.12 28,740,000.00 10,000,000.00 4,853,599.27-11,475,331.39 50,215,331.39 * 15,198,600.00 - (1,122,172.77) - (30,877,415.46) (15,678,815.46) 18,396,800.00 - (310,772.22) - 314,687.06 18,711,487.06 18,000,000.00 - (470,747.70) - (4,238,407.92) 13,761,592.08 128,119,177.32 - (1,132,572.65) - (11,876,054.89) 116,243,122.43 15,122,964.46 - - 480,000.00 845,458.11 15,488,422.57 29,000,000.00 - - - 108,650.40 29,108,650.40 4,560,000.00 - - - (192,760.33) 4,367,239.67 961,955,737.27 10,000,000.00 16,199,229.29 6,920,000.00 238,097,299.67 1,203,133,036.94 * 44

2003 4 (RMB) (RMB) (RMB) 2003 1-6 2002 1-6 2003 1-6 2002 1-6 2003 1-6 2002 1-6 330,523,105.40 329,670,409.52 306,700,207.56 343,680,292.40 23,822,897.84-14,009,882.88 330,523,105.40 329,670,409.52 306,700,207.56 343,680,292.40 23,822,897.84-14,009,882.88 5 2003 1-6 2002 1-6 (2,331,700.90) 503,929.70-16,199,229.29 32,263,154.72 (3,516,541.08) (3,516,541.08) 10,350,987.31 29,250,543.34 ( ) 1. :,... 2002.12.31 2003.6.30 RMB120,000,000.00 - - RMB120,000,000.00 45

2003 RMB400,000,000.00 - - RMB400,000,000.00 RMB29,690,000.00 RMB10,000,000.00 - RMB39,690,000.00 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 RMB67,000,000.00 - - 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 2002.12.31 2003.6.30 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% 10,000,000.00-38,740,000.00 97.61% 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% 59,300,000.00 94.77% - - 59,300,000.00 94.77% 13,400,000.00 94.00% - - 13,400,000.00 94.00% 16,000,000.00 94.07% - - 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. 46

2003 ( ) ( ) 1. 2003 1-6 2002 1-6 11,462,592.74 5,650,828.38 3,634,387.53 1,725,202.16 4,560,563.81 5,151,017.73 692,496.64 - - 1,731,330.50 4,374,377.97 1,224,210.33 5,881,422.69 1,174,863.64-1,732,828.64 351,069.13 1,776,150.62 30,956,910.51 20,166,432.00 2. 2003 1-6 2002 1-6 77,156,548.44 58,125,655.57-13,941,032.90 1,765,114.94 1,976,607.86 7,105,003.00 22,925,796.95 (15,744,829.06) - (18,324,786.33) - 639,862.04 - - 655,756.49 603,738.59 926,539.23 53,200,651.62 98,551,389.00 : 3. 47

2003 3.2 4. 2003 1-6 2002 1-6 RMB RMB 672,227.47 429,152.50 \ 6,880,036.52 5,646,138.55 5,357,852.49 3,590,011.06 \ 17,652,208.27 20,850,476.19 4,095,980.42 5,351,499.05 5. 2003 1-6 100,897,619.71 97,407,859.19 13,865,561.81 ( ) 2003.6.30 2002.12.31 RMB RMB 25,375,087.74 25,993,551.87 ( ) 13,865,561.81 10,375,801.29 * 34,669,907.92 67,419,280.21 * 34,669,907.92 40,600,000.00 2.73% 75,269,907.92 2003 6 30 2003 6 30 2003 6 30 48

2003 2003 6 30 2000 12 29 1 2 3 4 00 49