2003 1

BRIGHT DAIRY & FOOD CO.,LTD 2003

2003 1

3 4 7 10 13 15 17 28 29 33 33 2

1 BRIGHT DAIRY & FOOD CO., LTD 2 3 578 021 54584520 021 64013337 E-mail 600597@brightdairy.com 4 578 578 201103 021 54584520 021 64655033 E-mail 600597@brightdairy.com www.brightdairy.com 5 http://www.sse.com.cn 6 3

600597 7 2000 11 17 2003 9 2 022797 310048607360299 222 30 1 2003 390,917,107 282,461,933 273,738,719 1,945,906,785 68,748,915 391,797,809-5,695,946 13,621,874-8,806,630 470,164,616-312,523,845 4

-9,424,189.61 1,104,172.64 3,533,725.10 9,671,886.30 3,837,619.41 1 [2003]10 2003 3 17 - / 10 -, 2 [2003]12 2002 12 31 65,118,285 2 2003 2002 2001 5,981,051,611 5,021,503,488 5,021,503,488 3,520,210,605 3,520,210,605 282,461,933 226,313,752 226,313,752 162,906,619 162,906,619 5

3,460,834,470 2,937,365,249 2,937,365,249 1,829,170,116 1,829,170,116 1,861,258,092 1,578,679,864 1,643,798,149 543,663,332 667,646,064 0.43 0.35 0.35 0.33 0.33 2.86 2.42 2.52 1.08 1.33 2.81 2.30 2.49 0.98 1.23 0.72 0.74 0.74 0.76 0.76 % 15% 14% 14% 30% 24% 273,738,719 250,639,087 250,639,087 181,044,803 181,044,803 0.42 0.38 0.38 0.36 0.36 % 1 15% 16% 15% 33% 27% 2 16% 27% 22% 32% 26% 3 1,945,906,785 105% 112% 2.99 2.99 391,797,809 21% 23% 0.60 0.60 282,461,933 15% 16% 0.43 0.43 273,738,719 15% 16% 0.42 0.42 4 651,182,850 797,304,377 94,999,376 44,425,854 65,118,285 35,193,261 1,643,798,149-116,295 75,629,541 34,759,448 130,236,570 76,595,822 217,459,943-65,118,285 651,182,850 797,420,672 170,628,917 79,185,302 130,236,570 111,789,083 1,861,258,092 6

1 2 3 5 45,758,570.00 27,566,008.00 12,740,414.00-2,130,403.00 83,934,589.00 39,809,672.00 10,916,551.00 7,755,463.00-1,401,567.00 57,080,119.00 5,948,898.00 16,649,457.00 4,984,951.00-728,836.00 26,854,470.00 6,706,718.00 23,263,719.00 3,205,211.00-2,510,625.00 30,665,023.00 6,706,718.00 23,263,719.00 3,205,211.00-2,510,625.00 30,665,023.00 925,284.00 250,000.00 1,175,284.00 925,284.00 250,000.00 1,175,284.00 28,280,544.00 8,888,077.00 2,090,888.00-9,804,698.00 29,454,811.00 577,000 1,639,739-1,500,000 716,739 24,420,793 6,521,518 2,056,441-5,377,124 27,621,628 3,230,582 571,827 34,447-2,927,574 909,282 52,169 154,993 207,162 1 1 1 + 25,059,142 25,059,142 7

250,591,425 250,591,425 225,532,283 225,532,283 2 3 4 501,182,850 501,182,850 1 150,000,000 150,000,000 2 3 4 150,000,000 150,000,000 651,182,850 651,182,850 2 [2002]80 2002 8 14 A 15,000 6.50 2,870 94,630 2002 8 28 2 1 2003 12 31 31,538 2 8

1 2 3 4 5 200,473,141 30.78% 0 S.I.Food Products 200,473,141 30.78% 0 Holdings Limited 25,059,142 3.85% 0 25,059,142 3.85% 0 25,059,142 3.85% 0 6 Danone Asia Pte. Ltd. 25,059,142 3.85% 0 7 8,854,010 1.36% 8 5,054,052 0.78% 9 4,824,573 0.74% 10 2,728,395 0.42% 3 251 1997 6 2 50,576 ( 30.78% S.I.Food Products Holdings Limited 1996 10 2 1 30.78% Shanghai Industrial Holdings Limited S.I.Food Products Holdings Limited 100% Shanghai Industrial Holdings 9

Limited 20,000 39 26 S.I.Food Products Holdings Limited 4 1 8,854,010 A 2 5,054,052 A 3 4,824,573 A 4 2,728,395 A 5 2,725,806 A 6 2,075,876 A 7 1,844,700 A 8 1,692,262 A 9 1,542,514 A 10 1,325,800 A 1 52 2000 11 2004 1 36 2000 11 2004 1 53 2000 11 2004 1 10

56 2000 11 2004 1 50 2000 11 2004 1 47 2000 11 2004 1 55 2000 11 2004 1 47 2000 11 2004 1 47 2000 11 2004 1 48 2000 11 2004 1 56 2000 11 2004 1 55 2000 11 2004 1 36 2000 11 2004 1 51 2003 4 2004 1 48 2003 4 2004 1 64 2000 11 2004 1 57 2000 11 2004 1 35 2000 11 2004 1 49 2000 11 2004 1 40 2001 9 2004 1 45 2003 7 2004 1 38 2003 7 2004 1 39 2003 7 2004 1 38 2002 3 2004 1 2003 2 2 11

S.I.Food Products Holdings Limited 2002 2 Shanghai Industrial Holdings Limited 2001 4 2004 1 1996 7 2002 11 2000 11 2000 2 1988 12 1996 3 Danone Asia Pte. Ltd. 2000 11 1999 12 2000 9 S.I.Food Products Holdings Limited Shanghai Industrial Holdings Limited 3 237 101 25 40 3 4 25 7 12

12 2 4 2002 5,000 5 1 2003 2 2 2002 3 6 2,838 923 776 315 123 493 208 401 44 1 2002 1 1 2 13

3 20% 2004 1 4 5 2 2003 4 30 2002 3 1 2 3 4 14

5 6 4 KPI 1 2002 2003 4 30 2106 5 2002 16 501,894,759 77.0743% 1 501,893,759 99.9999%0 1,000 2002 2 501,893,759 99.9999%0 1,000 2002 3 501,893,759 99.9999%0 15

1,000 2002 4 501,893,759 99.9999%0 1,000 2002 5 501,192,450 99.8602%702,009 300 2002 6 501,892,759 99.9997%2,000 0 2002 600 7 501,892,759 99.9997%2,000 0 501,892,759 99.9997%2,000 0 5,000 8 501,894,759 100%0 0 9 501,893,759 99.9999%0 1,000 2003 10 501,893,759 99.9999%1,000 0 11 501,893,759 99.9999%1,000 0 12 501,893,759 99.9999%1,000 0 13 501,893,759 99.9999%0 16

1,000 2003 5 12 2 2002 1 2003 GDP 2003 2003 2003 SARS 59.81 19 2.82 25% 72 2003 17

2003 107 2003 2003 2003 2003 50 180 50 2 4,967,644,529 18% 3,212,256,269 20% 1,755,388,260 14% 35% -1% 1,013,407,082 28% 810,102,599 25% 203,304,483 46% 20% 2% 1 ( (% (% 139,124 154,148 23% 31% -7% 357,640 268,521 60% 53% 6% 496,764 422,669 83% 84% -1% 18

2 194,591 16% 19% 28,246 31,252 4 3 2,000 13,851 29 3,000 11,386-1,215 6,321 25,568 121 4,452 12,147 5,859 1,500 5,850 1,015 21,810 40,761 3,146 (USD250 4,227 29 (USD900 4,934 322 (USD435 4,630 6,838 2000 7,361-405 11,959 13,400-62 2,000 7,700-1,343 2,500 4,597 161 2,690 9,716-269 3,543 8,669 1,879 6,000 12,458-1,123 2,160 6,284 501 10,000 25,910 475 4 50,482 6 38,977 7 5 19

2003 4 SARS SARS 6 81,124 62,118 19,006 1 7,445 6,833 30,000 2 18,376 2004 13,834 45,000 UHT 33,000 39,108 3,879 3 13,500 2004 4,799 20 65,132 5,794 4 16,970 12,937 5 12,944 13,000 20

6,600 165,000 6 11,889 10,715 30,000 45,000 1 2003 2 47 10,000 8,000 80 47 2,000 20 2003 475 2 2003 6 216 144 1800 2160 1080 1296 60% 720 864 40% 3 2003 7 2,000 1,600 80 300 15 100 5 4 2003 7 2,000 1,500 75 300 15 100 5 21

100 5 5 2003 10 20 1,160 50 2004 3 11 9867 6 2003 12 2,500 1,500 60 750 30 250 10 7 3,460,834,470 2,937,365,249 17.82% 177,081,969 76,451,065 131.63% 6 1,861,258,092 1,643,798,149 13.23% 1,945,906,785 1,670,966,922 16.45% 282,461,933 226,313,752 24.81% -312,523,845 699,628,553 4 8 2004 2004 22

1 2 3 2004 4, 5 6 9 1 2003 3 25 2002 2002 2002 2002 2002 2003 2002 2003 3 27 2 2003 7 28 98 21 2003 2003 23

2003 7 31 3 2003 12 22 2004 2003 12 23 4 2003 2 28 2003 4 8 2003 4 8 2003 4 8 2003 4 17 2003 2003 5 30 1 2003 6 9 2003 9 16 1.5 2003 10 20 2003 2003 10 22 2003 12 15 24

2002 2002 2003 6 2 2003 6 17 2003 6 5 10 2003 282,461,933 286,488,022 A (10% 28,648,802 (10% 28,648,802 B (10 12,221,291 5 6,110,646 C 35,193,261 D 2003 242,025,653 E 0.20 130,236,570 111,789,083 2003 11 2003 805,506,922 1.24 796,297,297 2003 12 10 6 1 390,709,710 405,587,587 651,182,850 1,041,892,560 651,182,850 1,041,892,560 2003 12 25

2003 56 1 2003 12 31 2003 2004 3 25 (04 P0348 2003 12 31 2003 2003 2003 26

( 2004 3 25 2 2 235 235 631 631 2,000 2,000 5.04% 0 0 0 0 0 0 2004 3 25 2 2003 56 2003 2003 1 2000 2002 8 5 2004 8 2 2 1500 2003 10 30 2004 4 30 27

2003 10 20 9,867 50 3,500 2003 1.88% 2003 1 1 2003 3 25 2002 2002 2002 2002 2003 2003 3 27 2 2003 12 22 2003 12 23 2 2003 28

1 2 3 4 5 1 2 20% 2004 1 30 2004 3 2002 226,313,752 95,545,306 130,768,446 2002 1 S.I.Food Products Holdings Limited Danone Asia Pte. Ltd. (10% 9,554,531 (10% 9,554,531 29

(10% 1,706,113 5% 853,057 190,568 2002 74,067,642 10 1.47 73,673,879 393,763 2 2002 7 29 2002 7 1 130,768,446 (10% 13,076,844 (10% 13,076,844 (10% 3,131,317 5% 1,565,658 393,763 2002 100,311,546 10 1.00 65,118,285 35,193,261 2002 2003 6 2 2003 6 17 2003 6 5 4 6 5 1 53,026,363 91,929,371 30

6 1 2000 2002 8 5 2004 8 2 2 1500 2003 10 30 2004 4 30 2003 10 20 9867 50 3500 2003 1.88% 2003 7 8 9 188 2003 188 4 10 5% 11 31

12 1 2003 3 27 2002 2003-001 2 2003 3 27 2003-002 3 2003 4 10 2003-003 4 2003 4 11 2002 2003-004 5 2003 4 12 2002 2003-005 6 2003 4 25 2002 2003-006 7 2003 5 12 2002 2003-007 8 2003 6 5 2002 2003-008 9 2003 7 31 2003-009 10 2003 9 3 2003-010 11 2003 11 21 2003-011 32

12 2003 12 23 2004 2003-012 13 2003 12 23 2003-013 1 2 3 33

( 2003 ( (04 P0348 ( : ( ( 2003 12 31 2003 2 50 2003 12 31 2003 2004 3 25 8

7 ( 2003 1 ( ( ( ( ( Danone Asia Pte. Ltd.,( 2000 11 17 2002 8 14 1 1.5 2002 8 28 651,182,850 501,182,850 76.96% 150,000,000 23.04% 29 2 1 1 12 31 (

( 2003 2 ( 10% 1 8

( 2003 2 ( ( 2 5% 50% 100% 0% 10% 25% 50% 1 2 25 6 20%-28% 9

( 2003 2 ( : 1 2 10

( 2003 2 ( 1-10 [2003]10-10 [2003]10-2 11

( 2003 2 ( 3%-10% 20 4.5%-4.85% 3%-10% 10 9%-9.7% 3%-10% 5 18%-19.4% 3%-10% 5 18%-19.4% 20%-28% 6 12%-13.33% 0% 2-5 20%-50% 3 12

( 2003 2 ( 2002 1 1 2002 1 1 10 ( ( ( 13

( 2003 2 ( 1 2 3 4 5 6 14

( 2003 2 ( 3 [2003]10 2003 3 17 - / 10 - [2003]12 2003 1 1 1,578,679,864 65,118,285 2003 1 1 1,643,798,149 15

( 2003 4 12 31 50% 16

( 2003 5 2003 12 31 (% (% 1,160 51-3,000 70-1,000 51-4,452 82-1,500 95-21,810 90-1 100-51 2,540 80-11,959 90 10 2 2,160 60-3 880 51-250 50-4 2,000 90 10 900 75-435 75-3,543 95 5 5 2,690 60-6 6,000 51-7 2000 90 10 3,061 51-2,500 60-2,000 80 15 8 2,000 75 15 8 100-100 8 10,000 80-8 1,550-58 8 830-51 9 1,000-52 8 2,857 51-2,000 90-50 20 80 50 20 80 50 20 80 50 20 80 50 20 80 50 20 80 101 20 80 50 20 80 50 20 80 6,321 81-10 50-100 50-100 50-90 50-100 50-100 100-49 50-100 50-100 50-100 50-100 50-100 8 50-100 8 50-100 8 50-100 8 50-100 8 50-100 8 17

18 ( 2003 5 ( 1 2003 6 118,099,318 218,099,318 78% 90% 2 2003 8 99,590,000 119,590,000 40% 90% 60% 10% 3 2003 5 3,600,000 2,160,000 60% 4 5 2003 1 46,721,150 95-1,854,200 5 6 2003 1 18,000,000 60 7 2003 1 54,800,000 51 8 9 2003 5-4,120,000 51 10 2003 7 43,210,000 35,000,000 81%

( 2003 6 17% 13% 5% 5% 7% 3% 27% 33% 27% 33% 2003 9 19

( 2003 7 45 49 51 7 946,666 716,508 671,814,412 1,018,674,630 128,000,000 91,000,000 800,761,078 1,110,391,138-2,893,785 800,761,078 1,113,284,923 8 25,822,312 4,731,934 20,000,000-14,889,740-60,712,052 4,731,934 20,000,000-80,712,052 4,731,934 44 3 (5 2003 12 31 60,775,236 ( 2003 12 31 20

( 2003 9 (% (% 371,863,974 87 16,744,444 355,119,530 270,955,480 88 13,529,914 257,425,566 1 28,274,513 7 14,137,257 14,137,256 25,728,863 8 13,038,003 12,690,860 1 2 19,651,383 5 19,651,383-9,699,268 3 9,699,268-2 3 5,095,730 1 5,095,730-3,542,487 1 3,542,487-3 1,451,305-1,451,305 - - - - - 426,336,905 100 57,080,119 369,256,786 309,926,098 100 39,809,672 270,116,426 39,809,672 10,916,551 7,755,463 (1,401,567 57,080,119 (% 55,108,435 13% 5% 10 (% (% 1 60,725,298 75 11,694,432 49,030,866 28,554,604 72-28,554,604 1 2 8,532,916 10 4,438,514 4,094,402 6,628,991 17 1,667,423 4,961,568 2 3 5,806,282 7 4,511,794 1,294,488 726,888 2 694,848 32,040 3 6,632,952 8 6,209,730 423,222 3,586,627 9 3,586,627-81,697,448 100 26,854,470 54,842,978 39,497,110 100 5,948,898 33,548,212 5,948,898 16,649,457 4,984,951 (728,836 26,854,470 5% 21

( 2003 10 (% 30,245,743 32% 6,000,000 1 4,179,349 6 ( 3,376,776 3 ( 3,089,618 1-2 2,380,000 1 11 % % 1 24,577,621 99 14,700,662 95 1 2 49,689-327,296 2 2 3 68,000 1 522,798 3 24,695,310 100 15,550,756 100 5% 12 201,733,920 30,665,023 171,068,897 134,313,198 6,706,718 127,606,480 16,596,620-16,596,620 8,413,930-8,413,930 116,779,479-116,779,479 63,697,005-63,697,005 50,286,669-50,286,669 52,237,468-52,237,468 385,396,688 30,665,023 354,731,665 258,661,601 6,706,718 251,954,883 22

( 2003 12 ( 6,706,718 23,263,719 3,205,211 (2,510,625 30,665,023 13 26,352,809 16,685,247 4,138,602 3,315,221 30,491,411 20,000,468 14 59,102,297 6,389,225 29,748,210 9,340,000 1,750,000 1,750,000 1 27,108,000-2 2,000,000-119,708,507 17,479,225 1 20% 2 3, (29,712,251-3,301,361 (26,410,890 36,101,476 - (4,011,275 32,090,201 - (4,518,696 451,870 (4,066,826-31,835,227 (3,183,523 28,651,704-32,912,176 (4,074,068 28,838,108-222,913 (222,913-6,389,225 60,451,620 (7,738,548 59,102,297 23

( 2003 14 -- 9,340,000 4,570,604 20,428,000 (1,000,000 33,338,604 -- - 962 (2,598,545 182,473 (2,415,110 -- - (925,284 (250,000 - (1,175,284 -- 9,340,000 3,646,282 17,579,455 (817,527 29,748,210 17,428,000 30% - - 9,000,000 20% 9,000,000 20% 340,000 34% 340,000 34% 15 367,124,687 846,815,073 139,053,996 77,897,032 32,500,707 66,629,445 1,530,020,940 26,157,222 74,934,299 27,421,996 10,722,662 19,266,338 43,340,727 201,843,244 32,836 784,417 220,108 62,631 3,203,769-4,303,761 56,915,066 101,761,230 25,683,230 14,237,480 19,550,575 482,923 218,630,504 87,849,727 237,315,898 10,930,802 2,652,653 - - 338,749,080 (8,838,075 (34,458,736 (1,231,465 (9,117,722 (23,872,852 (199,411 (77,718,261 529,241,463 1,227,152,181 202,078,667 96,454,736 50,648,537 110,253,684 2,215,829,268 71,181,487 289,946,060 60,439,185 39,431,995 8,588,027 27,155,780 496,742,534-5,950 5,961 895 1,020,214-1,033,020 8,917,182 33,876,674 12,786,600 5,530,443 7,568,783-68,679,682 25,351,748 105,136,145 1,814,811 15,999,160 7,120,447 24,188,646 179,610,957 (1,123,533 (24,670,342 (911,851 (3,951,544 (11,595,783 - (42,253,053 104,326,884 404,294,487 74,134,706 57,010,949 12,701,688 51,344,426 703,813,140 24

( 2003 15 ( 577,000 24,420,793 3,230,582 52,169 - - 28,280,544 1,639,739 6,521,518 571,827 154,993 - - 8,888,077-2,056,441 34,447 - - - 2,090,888 (1,500,000 (5,377,124 (2,927,574 - - - (9,804,698 716,739 27,621,628 909,282 207,162 - - 29,454,811 295,366,200 532,448,220 75,384,229 38,412,868 23,912,680 39,473,665 1,004,997,862 424,197,840 795,236,066 127,034,679 39,236,625 37,946,849 58,909,258 1,482,561,317 2003 12 31 ( 31,416,883 149,857,692-1,191,413 2,932,320-185,398,308 138,580,000 18 25 25

( 2003 16 % 7,492,278 776,000 - (8,268,278 - - - ERP 2,434,000 433,296 - (2,434,000 433,296 99 - UHT 4,500 20,202,903 7,133,037 - (25,548,670 1,787,270 61-1,300 2,811,198 8,859,666 - (11,670,864 - - - 790-4,396,227 - (2,471,588 1,924,639 56-552 - 3,909,383 - - 3,909,383 71-1,850 3,475,598 12,929,553 - (2,839,279 13,565,872 89-365 310,909 3,279,900 - (1,885,027 1,705,782 99-3,100,000 15,205,657 - (14,541,805 3,763,852 99-170 295,333 1,374,171 - - 1,669,504 99-5 UHT 2,049 1,718,551 10,073,866 - (11,792,417 - - - 585 4,928,377 917,476 - (5,845,853 - - - 8,252 46,517,126 30,146,578 - (76,663,704 - - - 611 2,369,509 1,266,819 - (2,507,794 1,128,534 60-1,090 10,873,469 - (10,873,469 - - - POS 3,196,470 6,534,224 - (5,395,620 4,335,074 95-386,515 1,049,837 - - 1,436,352 98-1,180-1,663,093 - - 1,663,093 14 - - 3,777,634 17,306,959-21,084,593 69 - - 13,790,369 15,735,963 (29,526,332 - - - 17,504,845 123,330,914 247,679 (126,484,380 14,599,058-127,617,081 250,847,700 33,290,601 (338,749,080 73,006,302-26

( 2003 17 55,317,463 46,170,530 (1,684,202 (10,831,135 44,486,328 23 47 2,243,502 1,751,178 (74,784 (567,108 1,676,394 22.5 60,000,000 27,000,000 (6,000,000 (39,000,000 21,000,000 3.5 1,707,620 583,437 (170,762 (1,294,945 412,675 2.5 2,600,000 2,578,334 (86,667 (108,333 2,491,667 28.5 78,083,479 (8,016,415 (51,801,521 70,067,064 27

( 2003 18 11,800,000 114,000,000 ( 1 71,280,000 15,000,000 ( 2 3,470,000 - - 5,700,000 86,550,000 134,700,000 4.425%-6.75% 1 15 2 19 5% 20 5% 21 28

( 2003 22 12,539,665 12,539,665 29,466,453 25,920,240 42,006,118 38,459,905 23 49,007,657 71,179,023 (18,680,874 (1,680,555 5,357,495 1,924,181 35,684,278 71,422,649 24 5% : 52,238,638 52,257,772 47,049,388 38,692,646 37,509,701 29

( 2003 25-20,000,000 20,000,000 - ( 1 27,627,930 24,834,300-4,000,000 4,000,000-2,000,000 2,000,000-550,000-54,177,930 50,834,300 ( 2 67,300,000 - ( 3 32,000,000-153,477,930 50,834,000 (44,974,420 (7,701,960 108,503,510 43,132,340 1 19,800,000 2 15 3 22,000,000 - - 1,674,420 1,701,960-4,000,000 4,000,000-2,000,000 2,000,000 7,674,420 7,701,960 7,300,000-30,000,000-44,974,420 7,701,960 5,500,000 5,500,000 11,399,827-1,108,263 - ( 26 18,008,090 5,500,000 62,982,510 13,201,960 30

( 2003 26 ( 1 22,000,000 27,500,000 28,747,942 1,918,725 5,366,392 - ( 25 (18,008,090 (5,500,000 38,106,244 23,918,725 1 44 3(6 27 9,752,215-4,120,000 3,400,000 5,000,000-18,872,215 3,400,000 28 2002 6,000,000 2003 5,600,000 31

( 2003 29 ( % 1. 25,059,142 3.85 2. 200,473,141 30.78 25,059,142 3.85 25,059,102 3.85 250,591,425 38.48 3. 200,473,141 30.78 Danone Asia Pte. Ltd., 25,059,142 3.85 225,532,283 34.63-150,000,000 23.04 150,000,000 23.04 651,182,850 100.00 2003 11 18 3.85% 30 796,297,297 1,007,080 797,304,377-116,295 116,295 796,297,297 1,123,375 797,420,672 31 50,573,522 44,425,854 94,999,376 ( 32 40,870,093 34,759,448 75,629,541 91,443,615 79,185,302 170,628,917 32

( 2003 32 2003 2002 35,193,261-282,461,933 226,313,752 ( 1 (28,648,802 (22,631,375 ( 1 (28,648,802 (22,631,375 (12,221,291 (4,837,430 (6,110,646 (2,418,715 242,025,653 173,794,857-190,568 ( 3 - (73,673,879 ( 2 (130,236,570 (65,118,285 111,789,083 35,193,261 1 2004 3 25 10% 2 2004 3 25 10 2 130,236,570 2003 3 2002 7 29 2002 1 6 33 38,977 31,542 33

( 2003 34 51,882,324 41,303,890 ( 1 6,420,867 7,105,471 ( 2 4,905,134 1,328,332 5,540,590 7,243,552 68,748,915 56,981,245 1 11 44 3(8 2-35 13,063,313 21,575,049 (9,770,574 (8,337,667 5,019,236 4,018,506 1,098,787 568,335 9,410,762 17,824,223 36 4,657,443 1,194,020 (7,738,548 236,986 (2,598,545 - (250,000-233,704 - - 751,395 (5,695,946 2,182,401 34

( 2003 37 ( 5,793,255 10,296,261 4,000,000-3,828,619 4,421,599 13,621,874 14,717,860 < > ( (199552 (20011 38 6,177,721 14,719,803 2,090,888 10,174,366 6,261,294 5,949,635 14,529,903 30,843,804 39 ( 1 51,289,449 110,411,816 ( 2 (470,877 1,701,749 ( 3 57,817,839 22,268,111 108,636,411 134,381,676 35

( 2003 39 ( 1 27% 2 2003 2002 470,877 3: 6 40 109,239 77,824 14,718 11,851 5,188 10,515 129,145 100,190 41 ( 5 125,495,350 100% 60% 51% 36

( 2003 41 ( ( 47,028,004 25,668,774 230,995-32,852,310 35,000,628 (10,916,551-34,695,293 6,081,224 (16,649,457-2,326,742-1,454,464 37,847 53,821,374 5,139,338 (23,263,719-3,646,282-218,630,504 94,928,420 (68,679,682 (31,521,179 33,290,601 1,744,352 (8,888,077 - - 2,559,698-769,897 (38,220,000 (58,800,000 (33,476,652 (21,098,797 (5,595,000 (92,342 (3,597,430 - (1,945,694 (2,483,222 (5,107,272 (856,786 (29,001,176 (31,344,622 (271,167 - (1,914,935 (6,008,746 14,598,681 - (7,630,637 - (55,750,000 - (12,652,970-89,817,469 19,724,484 (24,773,739 (11,936,721 37

( 2003 41 ( ( 65,043,730 7,787,763 60,451,620 6,152,239 125,495,350 13,940,002 47,028,004 25,668,774 ( 78,467,346 (11,728,772 416,284,427 120,758,667 12,078,581 8,749,569 3,329,012 42-1,614,120 4,303,761 (1,033,020 4,884,861 38

( 2003 43 ( ( ( ( 496,764 422,669 101,341 79,481 - - 598,105 502,150 5,268 5,983 - - (5,268 (5,983 - - 502,032 428,652 101,341 79,481 (5,268 (5,983 598,105 502,150 326,494 274,330 75,742 59,557 - - 402,236 333,887 - - 5,268 5,983 (5,268 (5,983 - - 326,494 274,330 81,010 65,540 (5,268 (5,983 402,236 333,887 175,538 154,322 20,331 13,941 - - 195,869 168,263 136,721 115,961 19,968 13,931 - - 156,689 129,892 38,817 38,361 363 10 - - 39,180 38,371 322,359 278,759 25,568 19,128 (1,844 (4,150 346,083 293,737 123,361 104,520 20,697 17,432 (1,844 (4,150 142,214 117,802 39

( 2003 44 1 5 2 (1 2003 12 31 ( 40

( 2003 44 ( 2 ( (2 ( 1 ( ( 1 ( 2 1 2002 1 9 2 2003 1 3 (1 ( ( 1 53,026,363 60,093,740 2-1,646,550-8,720,100 ( 2-11,672,470 53,026,363 82,132,860 1% 2% 41

( 2003 44 ( 3 ( (1 ( - 4,087,583 ( 1 91,929,371 95,578,389 ( 2-1,023,307 ( ( 2-29,619,500 91,929,371 130,308,779 2% 3% 1 2 (2-10,889,938 10,345,479 2005 12 31 2003 12 31 9,451,878 1,438,060 (3-7,020,061 8,059,383 42

( 2003 44 ( 3 (4 2,386,452 1,209,341 (5 2003 12 20,000,000 5.04% 75,600 2003 10 2004 4 30 15,000,000 49 1 (6 6,543,086 10,770,864 2% 3% 8,686,278-11% - - 4,087,583 6,578,573 5,181,429 1,000,940 571,894 7,579,513 9,840,906 2% 3% ( 1 7,644,000 7,644,000-1,911,578 7,644,000 9,555,578 2% 3% 1 43

( 2003 44 ( 3 (6 ( ( 2 5,500,000 5,500,000 9% 42% ( 2 16,500,000 22,000,000 43% 92% 2 5,500,000 ( 3 20,000,000-25% - 3 44 3 (5 (7-100% 48,575,350-75% 1 75% 1 44

( 2003 44 ( 3 (8 2000 12 1 44 2(1 5 534 642 34 534 885 44 3(6 44 3(1 45 1 2003 12 31 2,500 1,638 4,138 45

( 2003 45 ( 2 2003 12 31 1 1 1 2 2 3 ( 1 ( 2 ( 3 3 73 73 73 1,082 1,301 9,497 8,360 6,602 6,611 31,070 1,543 1,544 199 4,315 7,601 1,122 1,114 331 1,195 3,762 856 407 78-1,341 13,091 11,498 7,283 13,203 45,075 46 48 46-867,087,265 285,572,582-26,768,000 9,340,000 - - 1,750,000-27,108,000-920,963,265 296,662,582-347,002,647 371,536,383 1,267,965,912 668,198,965 46

( 2003 46 / - 302,602,912 424,341,259-726,944,171-6,389,225 61,029,209 (7,595,683 59,822,751 - (24,426,635 143,226,331 (39,602,728 79,196,968-1,007,080 116,295-1,123,375-285,572,582 628,713,094 (47,198,411 867,087,265 ( 143,226,331 (7,344,158 (7,595,683 236,986 2,931,364 991,892 1,586,726-452,000-201,725 - - 751,395 140,802,463 (5,363,885 47

( 2003 46 ( 2003 12 31 ( 5,916,000-5,916,000 21,000,000-21,000,000 5,100,000-5,100,000 36,436,500-36,436,500 14,250,000-14,250,000 82,603,000 118,099,318 200,702,318 19,449,345-19,449,345 8,952,144 2,160,000 11,112,144 8,000,000 99,590,000 107,590,000 2,257,900-2,257,900 11,203,385-11,203,385 18,000,000-18,000,000 1-1 1-1 - 46,721,150 46,721,150-18,000,000 18,000,000-54,800,000 54,800,000 18,000,000-18,000,000 13,940,000-13,940,000 15,000,000-15,000,000-16,000,000 16,000,000-15,000,000 15,000,000-80,000,000 80,000,000 14,570,700-14,570,700 18,000,000-18,000,000 100,000-100,000 100,000-100,000 100,000-100,000 100,000-100,000 100,000-100,000 100,000-100,000 202,000-202,000 100,000-100,000 100,000-100,000 16,742,475 35,000,000 51,742,475 330,423,451 485,370,468 815,793,919 48

( 2003 47 128,469,180 405,791,998 64,682,278 58,605,990 25,462,500 3,493,311 686,505,257-15,147,940 12,965,477 8,996,575 2,595,000 3,842,567 43,547,559 13,622,720 51,517,600 7,902,195 1,453,890 - - 74,496,405 (694,642 (18,747,208 (3,790,458 (5,774,626 (4,332,059 (199,411 (33,538,404 (646,847 (18,366,937 (4,648,674 (1,665,568 (23,725,441 - (49,053,467 140,750,411 435,343,393 77,110,818 61,616,261-7,136,467 721,957,350 33,056,306 187,488,801 31,274,520 29,311,906 6,715,210 624,025 288,470,768 6,173,865 22,967,974 11,296,900 10,420,342 1,376,508 1,556,722 53,792,311 (24,636 (12,142,384 (1,675,256 (974,768 (2,371,404 - (17,188,448 (231,651 (8,477,995 (1,543,762 (1,219,268 (5,720,314 - (17,192,990 38,973,884 189,836,396 39,352,402 37,538,212-2,180,747 307,881,641-17,071,970 3,117,610 52,169 - - 20,241,749 - - 34,446 - - - 34,446 - (506,957 - - - - (506,957 - (1,555,615 (2,927,573 - - - (4,483,188-15,009,398 224,483 52,169 - - 15,286,050 95,412,874 201,231,227 30,290,148 29,241,915 18,747,290 2,869,286 377,792,740 101,776,527 230,497,599 37,533,933 24,025,880-4,955,720 398,789,659 48 333,073 290,789 32,164 43,518 365,237 334,307 49

( 2003 49 1 44 3 (5 2004 4 30 15,000,000 2 1997 1,500,000 1998 12 18 2002 13,850,000 2003 7 30 50 2004 3 20% 30 50 2004 3 25 796,297,297 2003 12 10 6 1 405,587,587 651,182,850 1,041,892,560 2003 51 * * * * * * 50

2003 12 31 : : 7 800,761,078 1,113,284,923 472,077,209 914,420,622 8 80,712,052 4,731,934 58,907,593 4,691,434 9 369,256,786 270,116,426 338,611,947 266,441,988 10 54,842,978 33,548,212 22,025,047 27,901,056 11 24,695,310 15,550,756 17,323,661 6,637,370 12 354,731,665 251,954,883 110,370,398 100,531,860 13 30,491,411 20,000,468 2,890,111 2,867,623 1,715,491,280 1,709,187,602 1,022,205,966 1,323,491,953 14 46 119,708,507 17,479,225 1,267,965,912 668,198,965 : 15 47 2,215,829,268 1,530,020,940 721,957,350 686,505,257 : 15 47 703,813,140 496,742,534 307,881,641 288,470,768 1,512,016,128 1,033,278,406 414,075,709 398,034,489 15 47 29,454,811 28,280,544 15,286,050 20,241,749 1,482,561,317 1,004,997,862 398,789,659 377,792,740 16 73,006,302 127,617,081 12,605,497 40,802,195 1,555,567,619 1,132,614,943 411,395,156 418,594,935 17 70,067,064 78,083,479 65,486,328 73,170,530 3,460,834,470 2,937,365,249 2,767,053,362 2,483,456,383 2

( 2003 12 31 : : 18 86,550,000 134,700,000 - - 19 432,087,468 321,588,028 418,851,480 268,416,007 20 139,204,663 122,594,665 83,364,643 79,111,210 21 73,909,553 49,073,718 40,334,934 34,403,051 22 42,006,118 38,459,905 33,939,969 33,507,102-73,673,879-73,673,879 23 35,684,278 71,422,649 (284,236 62,329,411 1,394,502 1,446,591 - - 24 367,288,474 273,908,716 244,071,382 219,491,162 3,946,199 1,501,809 1,064,717-25 62,982,510 13,201,960 13,174,420 13,201,960 1,245,053,765 1,101,571,920 834,517,309 784,133,782 25 108,503,510 43,132,340 25,953,510 23,132,340 26 38,106,244 23,918,725 17,492,112 22,992,112 27 18,872,215 3,400,000 4,120,000 3,400,000 28 11,600,000 6,000,000 11,600,000 6,000,000 177,081,969 76,451,065 59,165,622 55,524,452 1,422,135,734 1,178,022,985 893,682,931 839,658,234 177,440,644 115,544,115 - - 29 651,182,850 651,182,850 651,182,850 651,182,850 30 797,420,672 797,304,377 805,506,922 797,304,377 31 170,628,917 94,999,376 138,657,544 81,359,940 31 79,185,302 44,425,854 68,528,177 39,879,375 32 130,236,570 65,118,285 130,236,570 65,118,285 32 111,789,083 35,193,261 147,786,545 48,832,697 1,861,258,092 1,643,798,149 1,873,370,431 1,643,798,149 3,460,834,470 2,937,365,249 2,767,053,362 2,483,456,383 3

2003 : 43 48 5,981,051,611 5,021,503,488 3,652,371,719 3,343,073,594 43 4,022,358,868 3,338,874,018 2,761,496,608 2,318,429,545 12,785,958 11,662,548 - - 1,945,906,785 1,670,966,922 890,875,111 1,024,644,049 34 68,748,915 56,981,245 31,304,022 33,466,822 1,308,359,267 1,046,789,147 597,180,279 528,480,544 305,087,862 279,626,141 139,332,018 172,748,655 35 9,410,762 17,824,223 (1,703,283 9,307,205 391,797,809 383,708,656 187,370,119 347,574,467 36 46 (5,695,946 2,182,401 140,802,463 (5,363,885 37 13,621,874 14,717,860 10,909,895 12,368,161 5,723,273 2,121,881 841,009 494,281 38 14,529,903 30,843,804 2,616,893 16,645,707 390,917,107 371,886,994 337,306,593 338,427,317 39 108,636,411 134,381,676 50,818,571 112,113,565 (181,237 11,191,566 - - 282,461,933 226,313,752 286,488,022 226,313,752 32 35,193,261-48,832,697 6,383,291 317,655,194 226,313,752 335,320,719 232,697,043 32 40,870,093 27,468,805 28,648,802 22,631,375 32 34,759,448 25,050,090 28,648,802 22,631,375 32 242,025,653 173,794,857 278,023,115 187,434,293 32 130,236,570 138,601,596 130,236,570 138,601,596 32 111,789,083 35,193,261 147,786,545 48,832,697 4

2003 6,999,217,262 5,807,997,152 4,064,025,118 3,881,311,006 2,147,341 4,348,599 - - 15,950,830 10,459,548 37,479,637 9,567,346 7,017,315,433 5,822,805,299 4,101,504,755 3,890,878,352 4,443,590,353 3,632,899,732 2,802,932,769 2,487,574,209 393,268,721 378,015,375 248,523,916 236,417,319 418,837,898 329,901,460 252,970,499 200,653,026 40 1,291,453,845 1,001,903,144 554,751,398 506,868,045 6,547,150,817 5,342,719,711 3,859,178,582 3,431,512,599 470,164,616 480,085,588 242,326,173 459,365,753 41-11,728,772 - - 9,754,904 2,683,660 141,156,534 2,683,660 685,704 1,194,020 41,843,179 8,685,099 24,707,084 7,283,894 8,959,100 3,079,319 7,841,578-720,000-42,989,270 22,890,346 192,678,813 14,448,078 441,921,968 413,060,420 95,752,166 94,249,654 130,017,057 6,481,934 521,084,734 340,493,639 41 78,467,346-119,521,150-650,406,371 419,542,354 736,358,050 434,743,293 (607,417,101 (396,652,008 (543,679,237 (420,295,215-946,297,296-946,297,296 132,530,000 594,210,042-366,000,000 39,150,000 30,272,075-171,680,000 1,570,779,413-1,312,297,296 188,350,624 804,800,000 1,765,440 581,916,571 151,855,477 145,748,112 139,224,909 136,284,495 6,745,259 4,036,328 - - 346,951,360 954,584,440 140,990,349 718,201,066 (175,271,360 616,194,973 (140,990,349 594,096,230 - - (312,523,845 699,628,553 (442,343,413 633,166,768 5

( 2003 1 282,461,933 226,313,752 286,488,022 226,313,752 (181,237 11,191,566 - - 18,036,513 43,520,460 407,036 15,477,013 179,610,957 138,362,973 53,792,311 64,365,351 8,016,415 7,930,952 7,684,202 7,684,203 (9,036,479 (8,115,758 (74,311 (690,081 ( 529,455 (6,277,249 1,095,817-5,600,000 6,000,000 5,600,000 6,000,000 130,720 - - - 953,426 14,719,803 2,907,668 8,711,936 18,082,549 25,593,555 4,991,815 16,129,938 ( 5,695,946 (2,182,401 (140,802,463 5,363,885 (73,810,218 (17,990,294 (37,032,782 (15,608,185 (100,011,757 (11,351,807 (184,964,532 (40,165,538 134,086,393 52,370,036 242,233,390 165,783,479 470,164,616 480,085,588 242,326,173 459,365,753 2 42 4,884,861 - - - 3 800,761,078 1,113,284,923 472,077,209 914,420,622 1,113,284,923 413,656,370 914,420,622 281,253,854 (312,523,845 699,628,553 (442,343,413 633,166,768 6

2003 12 31 2003 ( 105% 112% 2.99 2.99 21% 23% 0.60 0.60 15% 16% 0.43 0.43 15% 16% 0.42 0.42