2004 2004 ( )

2004 2 2 3 4 7 8 8 9 18 18 20 55 1

2004 1 Dalian Refrigeration Co., Ltd. DRC 2 3 0086-411-86538100 0086-411-86641470 bingzhen@bingshan.com 0086-411-86538130 0086-411-86654530 geyan@bingshan.com 888 4 888 116033 http://www.daleng.cn dlzqb@bingshan.com 5 http://www.cninfo.com.cn 6 B 000530 200530 7 1993 12 18 888 2102001100326 210204242361300 210204242361303 67 24 333 19 2

2004 1 122,379,405.46 100,955,488.10 101,320,456.90 170,137,279.19 1,148,244.52 27,656,133.87 95,088,240.37 42,528.71-407,497.49 28,696,739.34-92,039,047.75 42,528.71 523,976.70 931,474.19 2004 100,955 2004 108,764 7,809 100,955 86,147 1,352,748 1,285,465 - - - - 100,955 86,147 1,352,748 1,285,465 9,526 5,670 (491) (10,017) 1,597 (3,790) (12,667) (14,264) (3,953) (3,161) (18,944) (14,991) 202 1,052 - - 436 716 - - 108,764 86,634 1,320,646 1,246,193 2 2004 2003 2002 1,216,806,904.64 1,043,097,006.46 956,363,304.97 100,955,488.10 86,147,841.72 90,949,911.11 1,959,939,031.71 1,955,786,483.12 1,886,094,815.97 1,352,747,097.48 1,285,465,349.78 1,233,198,498.66 0.288 0.246 0.260 3

2004 0.289 0.245 0.259 3.86 3.67 3.52 3.83 3.66 3.51 0.082 0.314 0.297 7.46% 6.70% 7.38% 7.68% 6.91% 7.43% 1 2 3 350,014,975.00 558,450,008.21 239,154,698.51 71,666,105.51 137,845,668.06 1,285,465,349.78 0 1,327,757.10 31,515,388.15 9,984,773.32 100,955,488.10 133,798,633.35 0 0 0 0 66,516,885.65 66,516,885.65 350,014,975.00 559,777,765.31 270,670,086.66 81,650,878.83 172,284,270.51 1,352,747,097.48 2004 2004 2004 2003 2004 2004 2003 2004 1 1 1 104,422,500 106,366,750 104,422,500 106,366,750 2 32,222,250 30,278,000 136,644,750 136,644,750 1 98,370,225 98,370,225 2 B 115,000,000 115,000,000 213,370,225 213,370,225 350,014,975 350,014,975 2 2 1 66,203 2003 1,204 A 52,960 1,546 B 13,243 342 2 4

2004 % 10,442.25 10,636.675 30.39 A SANYO ELECTRIC CO., LTD. 3,500.15 3,500.15 10.00 B 315.00 315.00 0.90 A 315.00 315.00 0.90 A 283.70 283.70 0.81 A 179.50 179.50 0.51 A 175.00 175.00 0.50 A 162.225 162.225 0.46 A 0.00 162.225 0.46 A 157.50 157.50 0.45 A 10 5% 3,500.15 B B 1998 3 20 3 30.39% 1996 5 22 12,654, 100% 30.39% 4 10% 10% 10% 5 % SANYO ELECTRIC CO., LTD. 3,500.15 10.00 B 97.00 0.28 B 71.5634 0.20 A 70.00 0.20 B 68.777 0.20 B 62.398 0.18 B KINGSWAY FINANCIAL SERVICES GROUP LIMITED 40.00 0.11 B 38.6823 0.11 A 38.00 0.11 B 38.00 0.11 B 5

2004 1 1 9 67 04.6 07.6 25,650 25,650 55 04.6 07.6 22,650 22,650 48 04.6 07.6 0 0 41 04.6 07.6 3,000 3,000 60 04.6 07.6 0 0 37 04.6 07.6 0 0 63 04.6 07.6 7,125 7,125 68 04.6 07.6 0 0 64 04.6 07.6 0 0 3 46 04.6 07.6 7,800 7,800 52 04.6 07.6 750 750 33 04.6 07.6 0 0 67 04.6 07.6 25,650 25,650 48 04.6 07.6 0 0 46 04.6 07.6 21,125 21,125 53 04.6 07.6 14,250 14,250 43 04.6 07.6 0 0 37 04.6 07.6 0 0 41 04.6 07.6 3,000 3,000 6

2004 2 118 39 39 13 12 14 2 10 12 5 8 10 2 4 8 3 4 1 25,000 3 9 3 7

2004 2 2004 12 31 1,832 1,130 61.7% 312 17.0% 225 12.3% 28 1.5% 137 7.5% 688 37.6% 1 2 3 1 2 3 4 5 4 2004 6 3 2003 2004 4 22 2004 6 4 2003 2003 2003 2003 2004 9 3 8

2004 1 1 5 6 2004 121,681 16.65% 12,238 21.45% 10,096 17.19% 5-26 500, 1,000 2,000 20 CJZS812.5CDW 2004 ERP 11 5,000 100 14,363 1,440 362 499 579 2004 330,917 14.24% 163,077 9.09% 2004 353,171 27.63% 69,542 85.69% 9,509 16.62% 10% 30% 9

2004 30% 15% 5 5,000 12,000 m 2 60% KFC 100% GHP ASME 2 A 2,004 100% 2004 7,557 1,800 90% 2004 14,322 7 70% 2004 11,513 235 64.3% 2004 4,281 B 3 32,586 34.66% 11,308 9.29% 4 2004 10

2004 5 2004 2004 120,000 12,000 2 2004 10% 25% 25% 30% 30% 33% 40% 40% 40% 40% 40% 40% 40% 49% 50% 50% 60% 64.3% 70% 70% 1 1998 B 3.6 15,525.56 22.28 100% 4,630.624 2004 70,629 33.93% 33,345.56 100% 2 2004 6 10 18 49% 2004 11

2004 7 21 2004 11 11 5 50% 30% 40% 3 30% 630 5% 40% 35% 25% 3 2004 12 31 1 195,994 415 11,467 310 11,871 321 2 57,126 6,736 3,836 2,900 3 135,275 6,728 4 17,014 493 5 10,096 1,481 6 9,204 2,870 8,117 7 29.15% 3.5 1.67 0.09 1.12 0.06 8 14.41% 2.84 9 7.46% 0.76 4 2005 150,000 14,000 1 12

2004 2 3 ERP 4 5 1 2004 4 20 2003 2003 2004 2003 2003 2003 2004 2004 2003 2004 6 3 2004 8 17 2004 2004 10 19 2004 2 2003 2003 2004 7 6 2004 10,095.5 10% 998.5 10% 998.5 156.1 2,153.1 10,284.5 18,226.9 2004 10,876.4 13

2004 6,738.7 15,212.4 15,212.4 10% 998.5 3,500.1 10,713.8 2004 2004 350,014,975 10 1 B 2004 7 8 [ 2003 56 ] [ 2003 56 ] 2004 2004.1.1 2004.1.1 2004.12.31 2004.12.31 374,869.43 12,918,283.56 12,346,545.51 946,607.48 118,192.14 90,605.84 898,392.80 925,979.10 841,024.39 4,073,067.49 4,913,742.08 349.80 1,233,717.95 8,992,820.00 10,226,537.95 46,380.00 526,380.00 480,000.00 77,532.15 58,399.46 135,931.61 6,000,000.00 2,000,000.00 4,000,000.00 287,791.49 2,154,748.64 903,434.01 1,539,106.12 1,511,591.55 59,316,863.60 59,516,863.56 1,311,591.59 241,824.28 153,401,395.71 153,406,795.71 247,224.28 200,000.00 200,000.00 1,500,000.00 1,500,000.00 1,898,803.60 8,856,520.21 9,718,014.99 1,037,308.82 354,634.50 14,782,845.11 14,619,661.24 517,818.37 14

2004 111,425.00 8,855,357.00 9,077,971.74 334,039.74 2,020,597.35 2,020,597.35 879,808.25 10,323,790.28 10,623,276.49 580,322.04 1,596,676.72 47,709,776.45 48,169,436.54 1,137,016.63 1,923,208.19 1,923,208.19 44,892.50 52,127,753.46 52,082,860.96 300,000.00 300,000.00 33,000.00 27,000.00 60,000.00 15,220.00 27,350.00 42,570.00 30,000.00 11,068,350.00 11,098,350.00 322,609.00 243,140.00 574,540.00 654,009.00 2,020,000.00 20,000,000.00 18,020,000.00 4,000,000.00 1,180,698.15 37,111,008.41 36,142,751.14 2,148,955.42 227,959.89 227,959.89 20,389,765.91 21,247,943.16 858,177.25 300,000.00 435,000.00 135,000.00 369,750.00 1,718,640.00 1,531,015.00 557,375.00 458,800.00 1,133,300.00 1,035,000.00 557,100.00 9,667.20 10,176.00 508.80 3,400,000.00 3,400,000.00 4,017,920.84 10,313,041.00 14,132,070.28 198,891.56 800,000.00 1,800,000.00 1,300,000.00 300,000.00 87,550.00 3,112,873.25 2,768,628.25 431,795.00 1,459,882.81 1,459,882.81 268,680.51 21,498,282.08 21,229,601.57 963,611.32 100,000.00 863,611.32 500,000.00 475,000.00 25,000.00 698,804.47 8,021,488.05 7,322,733.98 50.40 270,200.00 28,279.42-241,920.58 33,290.00 33,290.00 1,209,800.00 1,210,500.00 700.00 406,222.64 2,563,685.29 2,358,989.19 201,526.54 5,250,240.37 9,130,364.27 3,880,123.90 15

2004 12,799,221.27 63,077,295.00 56,577,887.73 6,299,814.00 111,800.00 105,000.00 6,800.00 56,475.74 13,983.00 56,842.74 13,616.00 561,910.00 3,857,440.00 3,906,890.04 611,360.04 170,134.07 152,799.90 17,334.17 185,223.43 185,223.43 1,448,700.00 1,448,700.00 261,187.63 261,187.63 5,621,988.58 5,663,715.63 613,427.21 571,700.16 600,000.00 2,000,000.00 1,850,000.00 450,000.00 3,838,250.08 11,562,601.86 8,461,321.79 736,970.01 1,450,000.00 3,700,000.00 3,750,000.00 1,500,000.00 13,086,597.30 33,092,144.05 36,562,661.76 16,557,115.01 505,253.39 2,590,923.77 3,124,598.92 1,038,928.54 3,225.08 33,765.88 36,990.96 2004 12 31 2004.1.1 2004.1.1 2004.12.31 2004.12.31 3,539.30 3,860,208.95 3,863,748.25 240,000.00 240,000.00 240,000.00 240,000.00 570,000.00 570,000.00 240,000.00 240,000.00 80,000.00 80,000.00 16

2004 570,000.00 570,000.00 160,000.00 160,000.00 160,000.00 160,000.00 105,564.20 105,564.20 61.41 196.48 257.89 101.20 204.60 305.80 66,844.02 10,752.54 56,091.48 991.46 991.46 35,000.00 35,000.00 118,386.78 66,251.40 52,135.38 2005 4 18 9 17

2004 [2003]56 50% 0% 2004 4 20 2003 2003 2004 6 3 2004 8 17 2004 2004 10 19 2004 1 2 3 1998 B 4 5 6 2004 1 2 3 1 a) b) c) d) 18,255 18,199 56 e) 19.36% 0.05% f) 18

2004 g) h) i) j) k) l) 8,555 4,452 4,103 m) 4.74% 3.37% n) o) p) 2 4 5 0 0% 0% 6 7 1 25 2003 23 2 68 2003 68 12 7 8 19

2004 1 ( 2005 190 ) 2004 12 31 2004 2004 12 31 2004 2 3 2005 4 18 70 1983 20 1987 50 1989 1993 6 1993 12 8 1998 3 20 B 350,014,975.00 106,366,750.00 30,278,000.00 98,370,225.00 115,000,000.00 20

2004 61 400 1 2 1 1 12 31 3 4 5 6 7 1 2 1 1 5 1 2 10 2 3 30 3 4 50 4 5 80 5 100 8 1 21

2004 2 3 4 9 1 20 50 50 2 3 4 5 10 1 2,000 2 3 4 22

2004 11 1 2 3 12 1 50 2 13 14 1 2 23

2004 15 1 2 3 16 17 l 2 50% 50 1 6% 13% 17% = 2 7% 3 3% 4 1% 5 6 24

2004 l 33% 2 33% 15% 33% 15% 33% 1 2,004 100% 1,800 90% 70,000 70% Mike Murphy 235 64.3% 21 60% 100 70% 200 45% 2 2003 9 30 45% 3 2004 5 2004 11 153 25

2004 51% 1 : 64,820.05 66,717.12 396,013,799.55 303,942,116.99 30,737.74 396,078,619.60 304,039,571.85 19,177,028.76 8.2767 158,726,241.53 7,378,549.89 8,2765 61,068,568.16 3,135,418.00 0.077263 242,251.80 6,922,307.00 0.079701 551,714.79 222.87 1.0660 237.58 222.87 1.0637 237.07 158,968,730.91 61,620,520.02 2 : 16,113,777.09 14,092,114.32 4,072,560.00 17,713,884.09 20,186,337.09 31,805,998.41 57.56% 3 : 9,577,149.89 9,262,590.94 4 : 1 % % 115,885,504.88 49.89 5,804,630.17 129,436,629.52 51.83 6,406,892.29 73,097,025.79 31.47 7,309,702.58 51,795,604.68 20.74 5,179,560.47 26

2004 25,716,116.85 11.07 7,714,835.06 39,704,119.11 15.90 11,911,235.73 8,762,408.19 3.77 4,381,204.10 17,443,558.62 6.99 8,721,779.31 2,432,539.68 1.05 1,946,031.74 5,592,738.08 2.24 4,474,190.46 6,381,617.38 2.75 6,381,617.38 5,738,175.48 2.30 5,738,175.48 232,275,212.77 100 33,538,021.03 249,710,825.49 100 42,431,833.74 7 5% 5% 2 % % 23,902,675.34 10.29 34,859,503.79 13.96 5 1 % % 15,563,164.76 83.72 790,790.69 14,623,311.96 84.18 625,531.61 2,675,765.06 14.40 267,576.51 1,588,047.58 9.14 158,804.76 317,776.78 1.71 95,333.03 819,412.06 4.72 245,823.62 6,042.20 0.03 6,042.20 313,816.78 1.81 156,908.39 26,403.38 0.14 26,403.38 26,403.38 0.15 26,403.38 18,589,152.18 100 1,186,145.81 17,370,991.76 100 1,213,471.76 5% 5% 2 % % 4,247,443.00 22.85 4,414,679.70 25.41 6 % % 17,058,717.00 92.23 11,566,821.77 91.77 663,200.68 3.59 505,959.43 4.01 349,931.80 1.89 315,870.00 2.51 27

2004 424,375.67 2.29 24,900.00 0.20 191,103.95 1.51 18,496,225.15 100 12,604,655.15 100 5% 5% 31.85% 1,037,833.38 8.23% 7 1 48,333,589.82 100,413.54 48,233,176.28 53,591,246.54 401,181.50 53,190,065.04 17,189,639.84 17,189,639.84 13,460,346.58 13,460,346.58 101,812,041.47 101,812,041.47 132,069,749.15 132,069,749.15 161,808,941.69 4,818,513.72 156,990,427.97 90,129,441.76 190,104.41 89,939,337.35 152,652.02 152,652.02 102,875.32 102,875.32 329,296,864.84 4,918,927.26 324,377,937.58 289,353,659.35 591,285.91 288,762,373.44 2 4,918,927.26 148,270.56 4,475,911.91 591,285.91 87.98% 8 595,757,177.31 695,277,386.31 431,540.65 19,629,662.66 41,133,498.31 41,133,498.31 637,322,216.27 756,040,547.28 (1) 28

2004 420,000.00 420,000.00 0.7% 1,020,000.00 1,020,000.00 2% 3,000,000.00 3,000,000.00 1.9% 30,320,000.00 30,320,000.00 1.02% 2,307,692.31 2,307,692.31 2.14% 3,310,806.00 3,310,806.00 10% 250,000.00 250,000.00 5% 105,000.00 105,000.00 4.2% 400,000.00 400,000.00 5% 500,000.00 500,000.00 41,633,498.31 41,133,498.31 500,000.00 (2) 6,313,174.25 25% 44,239,598.00 12,734,738.50 26,903,973.51 30,070,362.99 2,871,708.00 40% 5,586,786.43 205,217.19 715,897.39 5,076,106.23 40,606,709.20 40% 93,171,291.41 15,596,009.74 8,800,000.00 99,967,301.15 3,908,911.50 30% 9,215,040.17 1,931,738.72 1,968,900.00 9,177,878.89 72,457,030.85 40% 103,869,655.63 19,754,111.89 9,800,000.00 444,063.12 113,379,704.40 20,157,584.40-3,359,597.40 25% 22,874,205.24-6,774,438.80 16,099,766.44 130,647,601.88 46,306,240.00 40% 167,836,416.72 69,034,548.40 13,200,000.00 223,670,965.12 7,613,460.00 30% 13,044,879.60 1,055,941.74 300,000.00 13,800,821.34 40,836,612.45 40% 69,380,777.29 22,251,406.00 14,524,160.00 29,162.76 77,078,860.53 16,725,127.52 40% 18,292,183.61 889,593.37 294,108.48 18,887,668.50 1,200,000.00 24% 1,309,781.25 105,277.05 1,415,058.30 29

2004 167,703.12 20% 167,703.12-167,703.12 0 490,000.00 49% 448,604.09 59,561.57 508,165.66 2,731,377.50 33% 2,500,570.75 131,304.86 2,631,875.61 43,419,684.00 22,996,680.00 49% 43,419,684.00 17,294,895.96 60,714,579.96 400,000.00 20% 400,000.00-627.73 399,372.27 9,230,400.00 30% 12,834,778.92 12,834,778.92 3,946,745.20 40% 9,564,120.00 9,564,120.00 1,034,675.00 50% 373,590.49 179,057.96 552,648.45 250,000.00 50% 57,950.16 13,742.73 71,692.89 18,750,000.00 50% 19,005,321.32 19,005,321.32 423,758,504.87 65,943,322.60 596,188,717.96 195,698,596.27 76,212,930.90 767,334.36 714,907,048.97 1 2004 4 8 RMB46,306,240.00 JP 592,000,000.00 40% 2 2004 4 8 RMB22,996,680.00 JP 294,000,000.00 49% 3 2004 12 3 RMB6,297,244.20 USD762,000.00 5% 25% 4 2004 11 23 30

2004 JP 120,000,000.00 40% 5 2004 8 2 30% RMB8,794,300.00 30% 6 2004 12 20% 7 2004 8 10 JP 500,000,000.00 50% 3 291,627.55 10 138,523.06-29,162.76 109,360.30 4,440,630.90 10 2,109,299.55 444,063.12 1,665,236.43 2,941,084.48 10 1,397,015.01 294,108.48 1,102,906.53 5,617,374.80 10 5,617,374.80 5,617,374.80 13,290,717.73 3,644,837.62 5,617,374.80 767,334.36 8,494,878.06 9 1 176,881,047.28 1,881,884.53 12,650,706.71 166,112,225.10 344,584,640.04 25,364,278.13 2,054,468.12 367,894,450.05 16,328,460.91 10,388,260.29 2,349,476.80 24,367,244.40 537,794,148.23 37,634,422.95 17,054,651.63 558,373,919.55 31

2004 7,036,539.09 2 71,156,059.57 4,847,067.41 12,107,766.85 63,895,360.13 163,277,191.26 31,186,482.72 1,442,834.37 193,020,839.61 8,254,988.24 1,968,631.07 1,471,116.48 8,752,502.83 242,688,239.07 38,002,181.20 15,021,717.70 265,668,702.57 3 9,848,282.61 7,434.99 9,840,847.62 9,848,282.61 7,434.99 9,840,847.62 7,434.99 4 105,724,987.71 102,216,864.97 171,459,166.17 165,032,762.82 8,073,472.67 15,614,741.57 285,257,626.55 282,864,369.36 10 250 111,263.00 5,696,340.30 3,628,428.90 2,179,174.40 87% 500 5,795,723.60 4,335,720.58 7,036,539.09 3,094,905.09 62% 1,222,300.00 137,300.00 212,800.00 1,146,800.00 90% 7,129,286.60 10,169,360.88 7,036,539.09 3,841,228.90 6,420,879.49 11 1 32

2004 45,906,902.40 40,275,416.94 918,136.92 39,357,280.02 42 12,352,745.82 7,223,016.90 4,154,348.90 65,003.72 11,312,362.08 29 515,224.41 257,612.01 51,522.48 206,089.53 4 861,000.00 681,910.00 60,000.00 57,259.80 684,650.20 42 48,437,955.85 4,214,348.90 1,091,922.92 51,560,381.83 (2) 7,223,016.90 7,223,016.90 7,223,016.90 7,223,016.90 12 82,119.11 82,119.11 82,119.11 82,119.11 13 148,000,000.00 52,000,000.00 148,000,000.00 52,000,000.00 64.86% 14 1,450,000.00 1,500,000.00 600,000.00 450,000.00 800,000.00 300,000.00 4,500,000.00 1,300,000.00 3,000,000.00 4,347,415.75 3,880,123.90 200,000.00 33

2004 300,000.00 1,060,000.00 600,000.00 1,923,208.19 261,187.63 80,670.05 15 12,997,415.75 13,555,189.77 % % 221,157,587.55 97.52 210,200,843.13 96.43 3,608,258.58 1.59 5,316,026.70 2.44 1,296,254.14 0.57 1,330,992.42 0.61 6,209.00 1,127,097.33 0.52 716,296.83 0.32 226,784,606.10 100 217,974,959.58 100 5% 5% 16 : % % 134,445,775.83 82.49 106,075,771.41 85.96 15,903,908.13 9.76 9,924,273.18 8.04 5,461,587.37 3.35 3,560,062.37 2.88 7,050,991.38 4.33 3,585,871.74 2.91 118,660.00 0.07 140,619.97 0.11 118,660.00 0.10 162,980,922.71 100 123,405,258.67 100 5% 5% 17 : 630,000.00 787,500.00 468,800.00 643,800.00 496,125.00 661,500.00 283,700.00 283,700.00 34

2004 1,580,873.88 1,556,609.81 3,459,498.88 3,933,109.81 18-15,530,341.36-4,061,508.10-8,188.15 11,302.25 28,260.54 105,600.11-57,676.33-155,024.66 58,927.70 865,040.49 0.01 595.11-7,645.20 25,649.95 1,602.87 2,986.76 3,045.76 5,674.79-15,512,014.17-3,199,683.29 79.37% 19 % % 3,691,171.12 26.23 20,237,642.01 76.59 3,924,257.30 27.88 3,428,068.43 12.97 5,335,877.92 37.91 245,978.77 0.93 1,124,241.00 7.98 2,512,938.80 9.51 14,075,547.34 100 26,424,628.01 100 5% 5% 87.73% 20 % 2001-03-30 2005-03-20 5.84 34,000,000.00 2001-12-04 2005-03-20 5.84 45,000,000.00 79,000,000.00 21 35

2004 % 2001-03-30 2005-03-20 5.84 34,000,000.00 2001-12-04 2005-03-20 5.84 45,000,000.00 2004-11-22 2009-11-21 5.84 50,000,000.00 79,000,000.00 50,000,000.00 22 1 104,422,500.00 1,944,250.00 106,366,750.00 104,422,500.00 1,944,250.00 106,366,750.00 2 32,222,250.00-1,944,250.00 30,278,000.00 3 4 136,644,750.00 136,644,750.00 1 98,370,225.00 98,370,225.00 2 115,000,000.00 115,000,000.00 3 4 213,370,225.00 213,370,225.00 350,014,975.00 350,014,975.00 23 513,645,432.79 513,645,432.79 1,534,544.19 1,534,544.19 1,479,118.18 641,328.71 2,120,446.89 41,335,296.05 686,428.39 42,021,724.44 36

2004 455,617.00 455,617.00 558,450,008.21 1,327,757.10 559,777,765.31 40,090,787.33 24 79,949,213.05 11,545,841.55 91,495,054.60 71,666,105.51 9,984,773.31 81,650,878.82 87,539,379.95 9,984,773.31 97,524,153.26 239,154,698.51 31,515,388.15 270,670,086.68 25 137,845,668.06 100,955,488.10 31,515,388.15 11,545,841.53 9,984,773.31 9,984,773.31 35,001,497.50 172,284,270.51 26 1,216,806,904.64 1,043,097,006.46 1,041,435,124.83 863,205,608.13 A 1,216,806,904.64 1,043,097,006.46 1,216,806,904.64 1,043,097,006.46 B 1,041,435,124.83 863,205,608.13 1,041,435,124.83 863,205,608.13 113,084,915.28 9.29% 27 37

2004 3% 5% 1,102,530.74 666,058.97 7% 2,625,546.37 2,644,638.97 3% 1,504,145.28 1,515,574.13 1% 1% 2,278.23 5,234,500.62 4,826,272.07 28 1,477,908.36 1,759,956.92-329,663.84-110,224.79 1,148,244.52 1,649,732.13 30.40% 29 1,457,602.44 1,532,334.13 9,066,807.11 10,967,250.37 1,999,593.00 3,170,059.33 1,674,232.29 2,075,154.38 9,413,695.71 7,987,973.12 1,294,419.40 2,162,410.60 9,017,290.09 8,881,203.84 5,006,877.64 5,571,999.35 873,262.96 1,112,922.70 2,244,768.63 1,472,987.43 2,159,248.74 1,064,352.30 8,314,842.76 10,146,097.10 52,522,640.77 56,144,744.65 30 38

2004 4,694,995.24 4,178,416.81 2,352,527.96 4,140,002.59 1,132,957.05 951,613.22 3,460,085.96 4,057,166.22 21,201,563.73 18,057,657.28 2,509,110.22 1,440,536.77 10,464,000.02 10,134,752.66 16,093,925.90 18,952,500.86 660,000.00 1,250,000.00 1,435,700.30 1,617,096.19 923,132.33 1,149,937.61 814,324.18 974,505.05 6,952,187.65 5,813,574.21 1,079,262.92 916,216.59 4,349,311.05 4,101,381.64 148,270.56 317,809.62 12,952,479.46 18,157,986.97 91,223,834.53 96,211,154.29 31 1,480,456.50 8,500,065.00 1,776,864.27 3,001,878.19 98,661.89 174,194.88 14,636.57 73.697.88 95,296.99 79,655.54-117,085.46 5,678,339.35 102.06% 320 32 3,135,266.91 2,585,624.42-767,334.36-767,334.36 39

2004 92,720,307.82 79,716,222.38 95,088,240.37 81,534,512.44 33 187,142.14 183,087.99 321,441.56 51,200.00 15,393.00 4,107.95 523,976.70 238,395.94 119.79% 34 764,588.26 130,197.33 38,356.22 31,688.60 54,693.63 5,000.00 123,000.00 931,474.19 216,049.85 331.14% 2004 35 17,056,654.34 12,025,970.19 17,056,654.34 12,025,970.19 41.83% 2004 36 25,222,968.74 3,629,288.35 5,368,336.56 4,635,829.22 11,589,514.61 25,222,968.74 40

2004 37 70,720,745.26 3,784,911.51 19,080,538.18 4,443,410.22 18,156,172.44 18,851,514.68 6,404,198.23 70,720,745.26 38 (1) 34,724,166.84 17,348,480.10 8,427,341.44 43,645,305.50 33,538,021.03 15,137,920.03 6,244,107.32 42,431,833.74 1,186,145.81 2,210,560.07 2,183,234.12 1,213,471.76 (2) 4,918,927.26 148,270.56 4,475,911.91 591,285.91 4,818,513.72-152,497.40 4,475,911.91 190,104.41 100,413.54 300,767.96 401,181.5 (3) 500,000.00 500,000.00 500,000.00 500,000.00 (4) 9,848,282.61 7,434.99 9,840,847.62 : 9,848,282.61 7,434.99 9,840,847.62 (5) 7,223,016.90 7,223,016.90 7,223,016.90 7,223,016.90 1 41

2004 % % 67,650,466.29 41.58 3,382,523.31 81,223,342.37 44.26 4,061,167.12 59,588,877.13 36.62 5,958,887.71 43,157,581.23 23.52 4,315,758.12 22,234,900.45 13.66 6,670,470.14 36,329,291.16 19.80 10,898,787.35 4,619,602.07 2.84 2,309,801.04 14,530,044.27 7.92 7,265,022.14 2,272,893.20 1.40 1,818,314.56 2,698,199.56 1.47 2,158,559.65 6,346,140.89 3.90 6,346,140.89 5,564,772.00 3.03 5,564,772.00 162,712,880.03 100 26,486,137.65 183,503,230.59 100 34,264,066.38 2 % % 25,543,814.86 91.80 408,547.11 5,983,170.03 72.20 299,158.50 1,988,111.09 7.14 198,811.11 1,511,000.00 18.23 143,100.00 294,276.78 1.06 88,283.03 503,143.85 6.07 150,943.16 290,316.78 3.50 145,158.39 27,826,202.73 100 695,641.25 8,287,630.66 100 738,360.05 70.22% 3 91,150,222.38 101,984,411.47 595,757,177.31 695,277,386.31 431,540.65 19,629,662.66 41,133,498.31 41,133,498.31 728,472,438.65 858,024,958.75 1 42

2004 420,000.00 420,000.00 0.7% 1,020,000.00 1,020,000.00 2% 3,000,000.00 3,000,000.00 1.9% 30,320,000.00 30,320,000.00 1.02% 2,307,692.31 2,307,692.31 2.14% 3,310,806.00 3,310,806.00 10% 250,000.00 250,000.00 5% 105,000.00 105,000.00 4.2% 400,000.00 400,000.00 5% 500,000.00 500,000.00 41,633,498.31 41,133,498.31 500,000.00 2 20,036,841.62 100% 20,105,244.39 3,661.99 20,108,906.38 5,400,000.00 100% 4,568,565.88-4,568,565.88 600,000.00 100% 555,673.55-555,673.55 16,200,000.00 90% 1,663,967.85 13,422,933.82 15,086,901.67 43

2004 12,501,344.60 64.3% 13,600,685.22 1,327,681.04 795,533.86 14,132,832.40 36,506,570.00 70% 45,459,080.28 6,156,949.86 4,463,179.55 47,152,850.59 1,522,117.80 60% 1,815,072.99 447,339.84 235,159.80 2,027,253.03 2,896,950.00 70% 2,669,657.98 275,977.58 2,945,635.56 900,000.00 45% 712,274.24-182,242.40 530,031.84 6,313,174.25 25% 44,239,598.00 12,734,738.50 26,903,973.51 30,070,362.99 2,871,708.00 40% 5,586,786.43 205,217.19 715,897.39 5,076,106.23 40,606,709.20 40% 93,171,291.41 15,596,009.74 8,800,000.00 99,967,301.15 3,908,911.50 30% 9,215,040.17 1,931,738.72 1,968,900.00 9,177,878.89 72,457,030.85 40% 103,869,655.63 19,754,111.89 9,800,000.00 444,063.12 113,379,704.40 16,797,987.00 25% 22,874,205.24-6,774,438.80 16,099,766.44 176,953,841.88 40% 167,836,416.72 69,034,548.40 13,200,000.00 223,670,965.12 7,613,460.00 30% 13,044,879.60 1,055,941.74 300,000.00 13,800,821.34 40,836,612.45 40% 69,380,777.29 22,251,406.00 14,524,160.00 29,162.76 77,078,860.53 16,725,127.52 40% 18,292,183.61 889,593.37 294,108.48 18,887,668.50 1,200,000.00 24% 1,309,781.25 105,277.05 1,415,058.30 167,703.12 20% 167,703.12-167,703.12 490,000.00 49% 448,604.09 59,561.57 508,165.66 2,731,377.50 33% 2,500,570.75 131,304.86 2,631,875.61 44

2004 66,416,364.00 49% 43,419,684.00 17,294,895.96 60,714,579.96 400,000.00 20% 400,000.00-627.73 399,372.27 9,230,400.00 30% 12,834,778.92 12,834,778.92 3,946,745.20 40% 9,564,120.00 9,564,120.00 1,034,675.00 50% 373,590.49 179,057.96 552,648.45 250,000.00 50% 57,950.16 13,742.73 71,692.89 18,750,000.00 50% 19,005,321.32 19,005,321.32 586,265,651.49 687,338,940.34 212,026,658.57 81,706,804.11 767,334.36 816,891,460.44 3 291,627.55 10 138,523.06-29,162.76 109,360.30 4,440,630.90 10 2,109,299.55-444,063.12 1,665,236.43 2,941,084.48 10 1,397,015.01-294,108.48 1,102,906.53 5,617,374.80 10 5,617,374.80 5,617,374.80 7,673,342.93 3,644,837.62 5,617,374.80 767,334.36 8,494,878.06 4 902,143,564.56 856,563,029.55 772,048,387.58 712,560,501.00 5 3,135,266.91 2,585,624.42-767,334.36-767,334.36 45

2004 7,145,429.70 2,442,781.55 92,720,307.82 79,716,222.38 102,233,670.07 83,977,293.99 1 1 RMB126,540,000.00 RMB20,040,000.00 RMB18,000,000.00 JP 700,000,000.00 Mike Murphy USD2,350,000.00 GBP210,000.00 USD1,000,000.00 RMB2,000,000.00 2 RMB126,540,000.00 RMB126,540,000.00 RMB20,036,841.62 RMB20,036,841.62 RMB3,000,000.00 RMB15,000,000.00 RMB18,000,000.00 46

2004 JP 700,000,000.00 JP 700,000,000.00 USD1,000,000.00 USD1,000,000.00 USD2,350,000.00 USD2,350,000.00 GBP210,000.00 GBP210,000.00 RMB2,000,000.00 RMB2,000,000.00 3 RMB104,422,500.00 29.83% RMB 1,944,250.00 RMB106,366,750.00 30.39% RMB20,036,841.62 100% RMB20,036,841.62 100% RMB5,400,000.00 100% RMB5,400,000.00 RMB600,000.00 100% RMB600,000.00 RMB2,700,000.00 90% RMB13,500,000.00 RMB16,200,000.00 90% JP 490,000,000.00 70% JP 490,000,000.00 70% USD350,000.00 70% USD350,000.00 70% USD1,510,000.00 64.3% USD1,510,000.00 64.3% GBP126,000.00 60% GBP126,000.00 60% RMB900,000.00 45% RMB900,000.00 45% 2 31 31 27 47

2004 48 27 27 31 3 1 9,150,887.14 29,952,702.81 181,986,033.56 45,463,727.42

2004 62,992,895.00 20,254,387.16 18,405,244.44 767,857.09 1,834,056.41 44,515,265.78 71,017,024.58 893,312.82 280,000.00 47,857,169.00 73,100,449.24 31,250,138.26 12,768,423.61 37,771,293.03 2,670,597.37 7,231,898.97 13,700,089.06 74,658.12 3,339,222.26 4,074,349.59 9,976,829.06 16,604,036.61 300,000.00 2,016,230.08 919,144.40 18,355,472.69 18,692,837.69 524,296.76 2,073,750.00 1,034,615.38 15,120.00 24,170.44 2 1,276,679.26 1,037,308.82 2,850,000.00 500,000.00 200,000.00 262,500.00 3 49

2004 1,991,110.85 41,033,996.97 23,122,585.41 3,218,754.26 2,390,556.80 2,660,575.43 866,587.19 471,297.31 11,041,268.00 4,613,034.00 49,914.07 44,170.94 8,814,564.96 6,669,338.39 19,622,363.15 4,177,906.01 32,090,605.48 20,547,906.78 8,259,372.86 312,009.68 11,951,28 79,819.66 613,840.17 1,238,205.13 157,200.14 34,769.67 28,452.99 4,333.33 564,986.24 14,923.08 1,468,923.08 785,133.43 7,283,323.12 145,413.74 4 1 1,137,016.63 1,596,676.72 349.80 841,024.39 1,539,106.12 287,791.49 198,891.56 4,017,920.84 946,607.48 374,869.43 1,037,308.82 1,898,803.60 50

2004 2,148,955.42 1,180,698.15 557,375.00 369,750.00 1,459,882.81 25,000.00 13,616.00 56,475.74 17,334.17 2 6,764.38 240,000.00 240,000.00 240,000.00 570,000.00 570,000.00 240,000.00 80,000.00 570,000.00 570,000.00 160,000.00 160,000.00 61.41 101.20 991.46 56,091.48 35,000.00 52,135.38 3 1,233,717.95 517,818.37 354,634.50 1,311,591.59 1,511,591.55 30,000.00 33,000.00 557,100.00 458,800.00 4 51

2004 1,500,000.00 580,322.04 879,808.25 4,000,000.00 4,000,000.00 2,020,000.00 3,400,000.00 863,611.32 5 736,970.01 3,838,250.08 16,557,115.01 13,086,597.30 6,299,814.00 12,799,221.27 611,360.04 561,910.00 201,526.54 406,222.64 6,800.00 111,800.00 334,039.74 111,425.00 571,700.16 5,621,988.58 44,892.50 925,979.10 118,192.14 247,224.28 241,824.28 42,570.00 15,220.00 1,038,928.54 505,253.39 654,009.00 322,609.00 508.80 858,177.25 700.00 6 52

2004 50.40 698,804.47 268,680.51 185,223.43 431,795.00 87,550.00 200,000.00 2,020,597.35 300,000.00 300,000.00 7 4,400,000.00 4,624,000.00 1,418,117.66 1,358,676.61 1,160,000.00 150,000.00 3,397,207.60 3,397,207.60 47,265.68 47,265.68 8 300,000.00 800,000.00 1,500,000.00 1,450,000.00 3,880,123.90 1,923,208.19 261,187.63 450,000.00 600,000.00 1 2004 12 31 2 2004 12 31 3 2004 12 31 53

2004 1 2005 3 16 USD878,994.34 JP 91,600,000.00 JP 28,400,000.00 2 2005 2 17 JP 600,000,000.00 JP 740,000,000.00 JP 300,000,000.00 JP 400,000,000.00 2004 12.58 12.90 0.49 0.49 2.04 2.10 0.08 0.08 7.46 7.65 0.29 0.29 7.48 7.68 0.29 0.29 42,528.71 523,976.70 187,142.14 931,474.19 33% 62,069.46 15% 4,987.70 7.5% 6,127.11 4.66-364,968.78 76,981.45 54

2004 1 2 3 4 8:00 12:00(AM) 1:00 5:00(PM) 0086-411-86654530 0086-411-86538130 0086-411-86654530 55

2004 2004 12 31 : : 5-1 304,039,571.85 265,017,730.10 396,078,619.60 373,142,760.35 5-2 31,805,998.41 12,124,533.36 20,186,337.09 14,190,538.25 5-3 9,262,590.94 11,275,770.50 9,577,149.89 11,281,557.66 5-4 207,278,991.75 149,239,164.21 198,737,191.74 136,226,742.38 5-5 16,157,520.00 7,549,270.61 17,403,006.37 27,130,561.48 5-6 12,604,655.15 10,710,537.03 18,496,225.15 11,549,400.51 5-7 288,762,373.44 230,535,940.99 324,377,937.58 299,825,444.75 282,050.00 5,947.33 870,193,751.54 686,452,946.80 984,862,414.75 873,347,005.38 : 5-8 756,040,547.28 858,024,958.75 637,322,216.27 728,472,438.65 756,040,547.28 858,024,958.75 637,322,216.27 728,472,438.65 : : 5-9 558,373,919.55 480,723,882.88 537,794,148.23 461,954,884.71 : 265,668,702.57 225,546,593.89 242,688,239.07 206,596,711.32 292,705,216.98 255,177,288.99 295,105,909.16 255,358,173.39 :9,840,847.62 9,840,847.62 9,848,282.61 9,848,282.61 282,864,369.36 245,336,441.37 285,257,626.55 245,509,890.78 5-10 6,420,879.49 5,274,079.49 7,129,286.60 5,906,986.60 289,285,248.85 250,610,520.86 292,386,913.15 251,416,877.38 : 5-11 44,337,364.93 35,036,521.27 41,214,938.95 32,241,059.90 5-12 82,119.11 44,419,484.04 35,036,521.27 41,214,938.95 32,241,059.90 : 1,959,939,031.71 1,830,124,947.68 1,955,786,483.12 1,885,477,381.31 56

2004 : : 5-13 52,000,000.00 50,000,000.00 148,000,000.00 148,000,000.00 5-14 13,555,189.77 13,555,189.77 12,997,415.75 12,997,415.75 5-15 217,974,959.58 156,817,897.11 226,784,606.10 197,815,857.32 5-16 123,405,258.67 100,589,446.50 162,980,922.71 153,235,289.81 7,592,167.16 2,677,421.21 6,258,878.52 2,493,688.14 5-17 3,933,109.81 2,999,606.00 3,459,498.88 2,948,981.52 5-18 -3,199,683.29-3,210,219.88-15,512,014.17-14,313,646.32 54,440.58 6,796.29 10,586.64 1,689.80 5-19 26,424,628.01 24,429,605.56 14,075,547.34 16,194,040.39 524,346.03 512,107.64 569,260.38 530,960.12 5-20 79,000,000.00 79,000,000.00 521,264,416.32 427,377,850.20 559,624,702.15 519,904,276.53 : 5-21 50,000,000.00 50,000,000.00 79,000,000.00 79,000,000.00 50,000,000.00 50,000,000.00 79,000,000.00 79,000,000.00 : 571,264,416.32 477,377,850.20 638,624,702.15 598,904,276.53 35,927,517.91 31,696,431.19 : 5-22 350,014,975.00 350,014,975.00 350,014,975.00 350,014,975.00 5-23 559,777,765.31 559,777,765.31 558,450,008.21 558,450,008.21 5-24 270,670,086.66 262,822,359.38 239,154,698.51 232,868,039.45 : 81,650,878.83 81,303,731.53 71,666,105.51 71,318,958.22 5-25 172,284,270.51 180,131,997.79 137,845,668.06 145,240,082.12 35,001,497.50 35,001,497.50 1,352,747,097.48 1,352,747,097.48 1,285,465,349.78 1,286,573,104.78 1,959,939,031.71 1,830,124,947.68 1,955,786,483.12 1,885,477,381.31 57

2004 2004 5-26 1,216,806,904.64 902,143,564.56 1,043,097,006.46 856,563,029.55 1,216,806,904.64 902,143,564.56 1,043,097,006.46 856,563,029.55 5-26 1,041,435,124.83 772,048,387.58 863,205,608.13 712,560,501.00 5-27 5,234,500.62 3,690,992.59 4,826,272.07 3,816,354.32 170,137,279.19 126,404,184.39 175,065,126.26 140,186,174.23 5-28 1,148,244.52 742,883.25 1,649,732.13 736,920.88 5-29 52,522,640.77 38,550,193.31 56,144,744.65 43,006,335.14 5-30 91,223,834.53 75,499,145.38 96,211,154.29 78,898,234.51 5-31 -117,085.46-5,735.13 5,678,339.35 5,853,171.65 27,656,133.87 13,103,464.08 18,680,620.10 13,165,353.81 5-32 95,088,240.37 102,233,670.07 81,534,512.44 83,977,293.99 42,528.71 524,358.98 250,000.00 5-33 523,976.70 456,942.14 238,395.94 234,087.99 5-34 931,474.19 481,287.29 216,049.85 118,000.00 122,379,405.46 115,312,789.00 100,761,837.61 97,508,735.79 5-35 17,056,654.34 15,465,055.90 12,025,970.19 10,253,139.07 3,119,921.81 1,767,902.09 1,247,341.21 820,123.61 100,955,488.10 99,847,733.10 86,147,841.72 87,255,596.72 137,845,668.06 145,240,082.12 114,346,130.97 119,162,661.91 238,801,156.16 245,087,815.22 200,493,972.69 206,418,258.63 11,545,841.53 9,984,773.31 10,195,687.79 8,725,559.67 9,984,773.31 9,984,773.31 8,725,559.67 8,725,559.67 217,270,541.32 225,118,268.60 181,572,725.23 188,967,139.29 9,984,773.31 9,984,773.31 8,725,559.67 8,725,559.67 35,001,497.50 35,001,497.50 35,001,497.50 35,001,497.50 172,284,270.51 180,131,997.79 137,845,668.06 145,240,082.12 1 2,317,173.54 2,317,173.54 2 3 4 5-49,758.90 6 58

2004 2004. : 1,097,808,440.46 826,276,497.61 81,898.15 25,222,968.74 42,755,137.34 1,123,113,307.35 869,031,634.95. 871,857,383.39 665,686,371.55 82,216,221.02 71,154,798.75 69,622,218.34 55,007,661.17 70,720,745.26 53,872,533.28 1,094,416,568.01 845,721,364.75 28,696,739.34 23,310,270.20. : 6,318,834.76 6,318,834.76 62,508,222.66 66,792,924.08. 118,395.00 107,000.00 68,945,452.42 73,218,758.84. 9,294,756.49 7,429,601.02 96,847,220.00 110,347,220.00 106,141,976.49 117,776,821.02-37,196,524.07-44,558,062.18. : 3,516,166.24 252,000,000.00 250,000,000.00 3,201,634.10 3,200,000.00 258,717,800.34 253,200,000.00 298,000,000.00 298,000,000.00 44,214,238.70 42,039,017.08 3,863.45 342,218,102.15 340,039,017.08-83,500,301.81-86,839,017.08. -38,961.21-38,221.19. -92,039,047.75-108,125,030.25 59

2004 : 1. : 2. : 100,955,488.10 99,847,733.10 3,119,921.81 17,438,360.66 15,415,998.59 25,894,414.35 21,418,273.99 1,091,922.92 832,967.53-276,102.67-44,914.35-18,852.48, 380,799.08 268,760.51 409,292.58 1,391,333.56 1,394,464.00-95,088,240.37-102,233,670.07 64,523,663.24 73,617,145.11-4,086,354.60-412,915.00-88,260,186.18-86,819,635.08 1,247,341.21 28,696,739.34 23,310,270.20 3. : 304,039,571.85 265,017,730.10 396,078,619.60 373,142,760.35-92,039,047.75-108,125,030.25 60

2004 2004 12 31 34,724,166.84 17,348,480.10 8,427,341.44 43,645,305.50 33,538,021.03 15,137,920.03 6,244,107.32 42,431,833.74 1,186,145.81 2,210,560.07 2,183,234.12 1,213,471.76 4,918,927.26 148,270.56 4,475,911.91 591,285.91 4,818,513.72-152,497.40 4,475,911.91 190,104.41 100,413.54 300,767.96 401,181.50 500,000.00 500,000.00 500,000.00 500,000.00 9,848,282.61 7,434.99 9,840,847.62 9,848,282.61 7,434.99 9,840,847.62 7,223,016.90 7,223,016.90 7,223,016.90 7,223,016.90 57,214,393.61 17,496,750.66 13,410,688.34 61,300,455.93 61