Northeast Electric Development Co.,Ltd. 00 00

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Northeast Electric Development Company Limited NEE 189 14 (86)24-23527080 (86)24-23527081 luohong@nee.com.cn nemm585@sina.com 2

78 189 110001 :www.nee.com.cn nee@nee.com.cn HongKong Imail www.cninfo.com.cn : H A -- -- -- ST -- 0042 -- 000585 1993 2 16 18 2002 10 25 78 111001448 210102243437397 138 11 100006 111 26 3

1 78,227,987 69,002,412 8,655,544 307,191,845 34,978,429 13,633,326 64,383,636 480,016-268,991 94,178,103-226,167,418 480,016 60,135,842-268,991 60,346,867 2 2002 205,442,284 2002 69,002,412 3 1 4

2002 2001 % 2000 951,454,451 1,281,941,691 1,281,941,691-25.78 1,320,048,191 69,002,412-803,806,718-818,644,262 - -363,597,324 1,912,003,964 3,884,189,577 3,869,352,033 50.59 4,454,892,244 535,417,927 333,137,780 318,300,235 68.21 1,125,563,289 ( ) 2 2002 2001 % 2000 0.08-0.92-0.937 - -0.416 0.61 0.38 0.36 69.4 1.29 0.59 0.34 0.32 84.38 1.25 0.11 0.20 0.20-45.00-0.047 (% ) 12.89-241.28-257.19 - -32.30 % 18.90-111.08-114.30 - -27.17 % 71.73 91.04 91.39-21.51 74.31 2002 2001 2000 1999 1998 1 944,366 1,278,776 1,311,922 1,398,050 1,541,205 2214,669-802,212-366,471-166,384 13,606 3 205,443-794,978-364,737-168,336 6,417 4 1,912,726 3,890,050 4,454,892 4,263,628 4,156,726 5 1,371,506 3,544,669 3,310,516 2,700,246 2,424,039 6 536,028 330,585 1,125,563 1,547,659 1,715,995 7 0.235-0.910-0.418-0.193 0.007 8 0.61 0.38 1.29 1.772 1.965 5

9 38.33-240.48-32.40-10.89 0.37 10 28.02 8.50 25.27 36.30 41.28 1171.70 91.12 74.31 63.33 58.32 873,370,000 614,774,930 48,091,633 28,284,688 32,210,803-1,278,431,819 318,300,235 151,814,624 69,002,412 220,817,036 3,699,344 3,699,344 873,370,000 762,890,210 48,091,633 28,284,688 32,210,803-1,209,429,407 535,417,927 1,400 30,085,000 148,115,280 3,699,344 1 6

1 38,052 2 9,130 3 4 47,182 1 14,360 2 3 25,795 4 40,155-4800 +4800 33,252 13,930 47,182 14,360 25,795 40,155 87,337 87,337 : 2 1 53,465 A 53,354 H 111 2 10 + - 1 ( ) 257,950,000 H 2 +230,000,000 230,000,000 3 +53,000,000 53,000,000 4 +36,520,000 36,520,000 5 +5,390,000 13,410,000 7

6 +12,580,000 12,580,000 7-369,520,000 11,000,000 8 10,980,000 9 +10,000,000 10,000,000 10 +8,000,000 8,000,000 26,652 2002 2 25 2002 3 5 23,000, 2002 3 8 2002 2 8 13,500 6,700 49.6% 4,400 32.6% 2,400 17.8% 5% 10% 10% 37 2002/03/15-2004/03/09 - - - 40 / - - - 46 2001/03/12-2004/03/09 - - - 39 - - - 8

57 / 2,130 2,130-37 / - - - 57 2002/03/15-2004/03/09 - - - 37 / - - - 59 2001/03/12-2004/03/09 - - - 63 - - - 49 - - - 57 - - - 46 2130 2130-41 - - - 53 - - - 56 - - - 47 2002/06/05-2004/03/09 - - - 39 2002/03/27-2004/03/09 - - - 40 - - - 52 36 2002/04/18-2004/03/09 - - - 2002/10/25-2004/03/09 - - - 2001/12/30-2001/12/30-2002/05/16-2004/05/15 1 67.18 16.467 14.17 2 9

5 3 3-5 7 3 13 3 2002 6 5 5 4 4,762 2,196 3,143 431 179 951 556 576 175 2,804 588 121 4,762 4,762 2002 6 30 10

2002 7 2002 1 28 2002 3 15 2002 11 400,863,135 45.9 11

2001 2002 4 18 2002 6 5 2001 9 380,628,660 43.58 2001 2001 2001 2001 2002 6 28 2002 8 12 2002 8 380,618,660 43.58 2002 7 31 2002 9 13 2002 8 406,324,260 46.52 42.5 66,915,144 2002 3 16 6 6 8 13 9 14 12

42.5% 951,454,451 12.75% 307,191,845 144.18% 1 2 26.5% 26.9% 27% 3 22 1 51,391 14.4% 4 13.47 5 6 2000 1 951,454,451 78,227,987 69,002,412 13

915,702,234 297,551,619 35,752,217 9,640,226 951,454,451 307,191,845 208,075,141 61,775,947 524,239,620 160,729,252 153,873,591 66,504,651 27,188,749 7,475,537 2,325,133 10,706,458 951,454,451 307,191,845 937,024,451 304,101,845 14,430,000 3,090,000 951,454,451 307,191,845 10% % 208,075,141 146,140,564 29.77 524,239,620 360,279,567 31.28 153,873,591 85,952,923 44.14 886,188,352 592,373,054 33.15 2 % 14

14,500 100 111,268 3,447 51,881 908 2,900 100 26,827 3,491 15,387 1,120 1,800 100 3,958 1,897 1,962-167 15,000 90 29,754 24,712 3,575-170 3 5,830 18.81% 20,281 21% 4. ( ) 1 2 1998 19,212 500KVSF6 2002 165 11 12,939 2002 17,300 2002 3,622 2002 7,089 15

1 2002 1-12 2001 1-12 307,191,845 176,709,465 A 69,002,412-818,644,262 B 226,167,418-84,538,271 C A: B: C: 2002 12 31 2001 12 31 1,912,003,964 3,869,352,033 A 535,417,927 318,300,235 B A: B:, ( 56) 4,000 ( 54) 2 2002 191,273 137,151 71.70% = / *100% 8,831 2002 77,350 40.59% 144.3% = / *100% 16

4,383. 51 1 2002 6 4 2001 12 31 2002 1 5 2002 1 5 2 2002 4 24 5 27 5 27.5 10% 1 2 17

3, ERP 00 12 2002 1 28 12 9 2 2002 3 15 2002 3 15 12 8 3 2002 3 27 12 10 2 18

2002 4 18 12 9 3 2001 2002 6 5 2002 4 24 12 9 3 100% 2002 4 26 12 7 5 2OO2 2002 6 17 12 8 3 2002 6 27 12 8 1 2002 8 12 2002 8 27 12 10 2 2002 2002 10 25 12 9 3 2002 2002 11 10 12 9 3 60 2002 12 25 12 10 2 10 9 076 19

( ) ( ) 3 ( ) 34 35 36 ( ) 21 30 31 ( ) 17 ( ) 34 34 ( ) 33 ( ), ( ) 20

( ) 14 1999 2002 6 17 69,002,412, -1,209,429,407 00 1 2002 4 17 5 5 2001 2001 2 2002 4 24 5 4 100% 3 2002 8 27 5 5 2002 4 2002 11 10 5 4 60% 21

1 2002 2 2002 3 4 2002 5 6 ` 00 22

1 1998 5 5 4,000 2001 6 1 2002 4 4 2001 12 28 2002 5 29 4,000 65% 2002 5 30 1,800 2002 11 22 800 2002 6 10 2002 8 28 2 2001 12 31 23,760 2001 6 8 2001 12 19 [2001] 17 12 25 2002 5 20 2002 6 25 [2002] 9 33% 52,015,144.50 2002 7 29 9.5% 1,490 42.5% 66,915,144 3 2000 3 31 9,600 2000 12 31 2002 6 30 9,076 2001 5 16 2001 11 29 [2001] 392 [2001] 393 2001 12 31 2002 4 8 2002 12 17 [2002] 378 120MW 200MW 13,082.92 9,076 23

2002 12 30 2002 12 30 4 1998 6 19 3,000 2001 12 2,640 1999 4 9 2000 2001 7 2 2001 321 2000 8 29 2000 422 1 100% 2002 4 24 1.5 6 4 47,495,680.59 68.83% 2 60% 2002 11 10 2 000 60 12 19 12,640,162 18.32% 24

1 50 2 42.5 1 1 2 1 2002 6 5 2001 2002 8 12 280 1 1999 [2002]31 A 2002 4 23 H 2002 4 19 [2002]61, A 2002 10 14 2001 A H 2002 10 18 2002 10 25 25

2001 9 1 8% 8% 14% 00 2003 5 29 189 2002 1. 2002 12 31 2. 2002 12 31 3. 2002 12 31 4. 2002 12 31 5. 6. A 2003 4 29 2003 4 30 2003 5 29 ( ) 2003 4 29 2003 4 29 26

183 17 2003 5 9 ( ) 24 00 ( ) 03 265 2002 12 31 2002 27

55(1) ( )2002 1 1 988 4,750 2001 12 31 2002 1 1 2002 1 1 2002 1 1 2002 1 1 2001 12 31 2002 1 1 2002 1 1 2002 1 12 55(1) 4,469 55(1) 100 1.5 00 28

2002 12 31 7 88,305,704.69 314,473,122.66 11,819,298.61 72,226,746.46 8 1,377,666.80 1,172,538.56 - - 9 11 461,377,684.54 879,024,651.96 34,970,450.00-10 11 199,383,379.60 479,558,184.63 124,884,045.15 282,688,906.14 12 29,060,382.21 302,074,666.82 - - 13 220,227,629.96 378,254,629.79 27,878,800.00-14 8,601,709.00 2,211,090.82 - - 1,008,334,156.80 2,356,768,885.24 199,552,593.76 354,915,652.60 15 80,699,648.28 17,418,741.46 394,332,915.68 398,773,416.27 16 1,900.00 1,160,207.00 - - 80,701,548.28 18,578,948.46 394,332,915.68 398,773,416.27 17 1,177,546,316.41 2,104,399,270.76 2,138,621.00 2,078,771.00 17 342,903,037.46 761,926,548.02 1,084,531.00 911,517.00 834,643,278.95 1,342,472,722.74 1,054,090.00 1,167,254.00 17 84,277,119.52 154,382,891.10 - - 17 750,366,159.43 1,188,089,831.64 - - 18 11,968,460.37 151,753,788.30 - - 762,334,619.80 1,339,843,619.94 1,054,090.00 1,167,254.00 19 59,647,323.48 147,303,665.32 - - 20 986,315.56 6,856,913.78 235,000.00 264,999.99 60,633,639.04 154,160,579.10 235,000.00 264,999.99 1,912,003,963.92 3,869,352,032.74 595,174,599.44 755,121,322.86 29

2002 12 31 21 434,486,945.09 1,276,703,040.04-67,900,000.00 22 14,000,000.00 32,650,000.00 - - 23 341,525,889.25 757,507,300.28 120,000.00-24 106,846,530.61 247,407,532.43 751,000.00-1,964,067.38 - - - 609,920.08 12,285,328.20 - - 25 903,606.44 4,195,243.94 - - 26 11,362,429.13 (4,868,445.73) 2,243,177.98 2,158,000.00 27 7,835,188.92 8,010,350.93 - - 28 92,858,739.37 316,278,867.29 53,123,994.39 3,614,208.48 29 6,742,626.17 7,037,310.08 3,518,500.00 2,000,000.00 30 170,410,000.00 498,258,879.02-361,148,879.02 1,189,545,942.44 3,155,465,406.48 59,756,672.37 436,821,087.50 31 168,606,711.01 357,408,951.01 - - 32 13,240,955.32 23,381,559.65 - - 181,847,666.33 380,790,510.66 - - 1,371,393,608.77 3,536,255,917.14 59,756,672.37 436,821,087.50 5,192,428.08 14,795,880.24 - - 33 873,370,000.00 873,370,000.00 873,370,000.00 873,370,000.00 34 762,890,209.93 614,774,930.23 762,890,209.93 614,774,930.23 35 108,587,124.40 108,587,124.40 108,587,124.40 108,587,124.40 35 32,210,803.10 32,210,803.10 32,210,803.10 32,210,803.10 36 (1,209,429,407.26) (1,278,431,819.27) (1,209,429,407.26) (1,278,431,819.27) 535,417,927.07 318,300,235.36 535,417,927.07 318,300,235.36 1,912,003,963.92 3,869,352,032.74 595,174,599.44 755,121,322.86 30

2002 37 951,454,451.16 1,281,941,691.27 42,482,606.87-38 637,174,266.19 1,098,367,081.37 29,492,824.80-39 7,088,339.81 6,865,144.78 17,500.00 - - 307,191,845.16 176,709,465.12 12,972,282.07 - - 40 34,978,428.74 16,452,231.69 - - 87,585,496.37 166,299,540.95 - - 174,664,206.48 557,673,913.48 14,480,226.63 129,659,328.21 41 66,287,245.36 139,132,423.20 354,293.94 33,185,552.55-13,633,325.69 (669,944,180.82) (1,862,238.50) (162,844,880.76) - 42 64,383,635.93 333,429.44 70,864,650.51 (655,799,381.64) 43 480,016.03 3,730,000.00 - - 44 1,965,754.36 1,142,216.28 - - 45 2,234,744.92 161,140,119.90 - - - 78,227,987.09 (825,878,655.00) 69,002,412.01 (818,644,262.40) 46 5,370,721.74 (1,806,562.86) - - - 3,854,853.34 (5,427,829.74) - - - 69,002,412.01 (818,644,262.40) 69,002,412.01 (818,644,262.40) (1,278,431,819.27) (459,787,556.87) (1,278,431,819.27) (459,787,556.87) - (1,209,429,407.26) (1,278,431,819.27) (1,209,429,407.26) (1,278,431,819.27) - - - - - - - - - (1,209,429,407.26) (1,278,431,819.27) (1,209,429,407.26) (1,278,431,819.27) - - - - - - - - - - - - - - - - - (1,209,429,407.26) (1,278,431,819.27) (1,209,429,407.26) (1,278,431,819.27) 1 60,135,842.13-60,135,842.13-2 3 4 5 6 31

2002 868,784,764.65 1,543,618,719.61 10,410,324.85 - - 557,935.00 - - 112,919,044.08 28,438,258.80 56,550,861.03 3,665,331.49 981,703,808.72 1,572,614,913.41 66,961,185.88 3,665,331.49 (553,317,651.16) (980,660,866.73) (7,762,219.80) - (102,896,958.21) (217,843,890.05) (1,557,333.06) - (56,034,685.51) (40,841,767.05) (1,025.00) - (175,276,410.97) (159,666,103.71) (2,492,028.01) (8,167,357.49) (887,525,705.84) (1,399,012,627.54) (11,812,605.87) (8,167,357.49) 94,178,102.88 173,602,285.87 55,148,580.01 (4,502,026.00) 3,344,863.00 9,740.00 - - 54 61,658,502.28-168,000,000.00-65,094.88 111,700.40 - - 545,649.23 349,800.00 - - - 786,384.94 - - 65,614,109.39 1,257,625.34 168,000,000.00 - (79,081,583.89) (3,600.00) (18,544,686.86) (59,850.00) - - - (2,500,000.00) - (3,200.00) - - (18,544,686.86) (79,084,783.89) (59,850.00) (2,503,600.00) 47,069,422.53 (77,827,158.55) 167,940,150.00 (2,503,600.00) - 152,000.00 - - 518,640,000.00 1,553,174,350.16-234,130,000.00 21,691.94 42,108,123.97-8,542,927.99 518,661,691.94 1,595,434,474.13-242,672,927.99 (832,868,678.83) (1,655,211,200.00) (283,305,623.92) (330,580,000.00) (53,205,117.49) (120,196,455.46) (190,553.94) (10,971,791.51) (2,839.00) (145,717.26) - - (886,076,635.32) (1,775,553,372.72) (283,496,177.86) (341,551,791.51) (367,414,943.38) (180,118,898.59) (283,496,177.86) (98,878,863.52) - (194,499.75) - (194,499.75) (226,167,417.97) (84,538,271.02) (60,407,447.85) (106,078,989.27) 32

2002 1. 69,002,412.01 (818,644,262.40) 69,002,412.01 (818,644,262.40) - 3,854,853.34 (5,427,829.74) - - 17,124,430.69 415,450,805.58 (52,787,673.90) 118,567,703.22 40,271,522.01 77,849,253.09 173,014.00 146,844.00 3,480,795.11 3,459,741.31 - - 2,355,925.77 4,892,073.74 29,999.99 1,486,868.86 (6,087,921.50) 549,850.07 - - 3,072,908.83 (5,155,431.04) 1,518,500.00 (3,651,730.00) (387,014.16) 1,324,366.59 - - 14,106.51 - - - 50,456,411.65 125,635,798.85 404,578.54 18,557,618.58 (54,330,068.66) 14,504,114.84 (70,864,650.51) 670,636,925.92 (54,498,805.67) (114,986,593.36) (27,878,800.00) - 110,189,189.75 224,822,686.31 112,262,729.91 (944,280.23) (90,340,642.80) 234,220,954.58 23,288,469.97 3,314,413.15-15,106,757.45-6,027,872.90 94,178,102.88 173,602,285.87 55,148,580.01 (4,502,026.00) 2. 88,305,704.69 314,473,122.66 11,819,298.61 72,226,746.46 314,473,122.66 399,011,393.68 72,226,746.46 178,305,735.73 (226,167,417.97) (84,538,271.02) (60,407,447.85) (106,078,989.27) 33

2002 1. ( ) (1992)81 1993 2 18 82,454 1995 58,542 1995 H 25,795 7 6 A 3,000 1995 12 13 87,337 33 23,000 2002 2 25 ( ) 23,000 26.34% 33.4 2002 9 14 2002 12 31 6 2. 2002 12 31 120,943 18,121 11,533 1,500 3. 1 1 12 31 34

(1) 12 31 50% 54(1) (2) ( 3 ) (1) (2) 35

1 ( ) - 1 2 0% 2 3 40% 3 4 60% 4 100% (1) 36

10 (2) (3) 3% 20 50 1.94%-4.85% 8 20 4.85%-12.13% 6 17 5.71%-16.17% 37

3 / / 38

4. 2,000 14,837,544.28 2001 10 2001 14,837,544.28 5. 17% 5%-20% 7% 4% 33% 5. 39

2001 14,492 14,492 100% 2,942 2,942 100% 1,809 1,809 100% 15,000 15,000 100% 2,520 1,512 60% 300 153.75 51.25% 389 379.97 97.68% 32,056.5 32,056.5 100% 12,000 11,352 94.60% 1,000 800 80% 2,000 1,700 85% 700 616 88% 700 630 90% ( )100% 60 2001 2002 1 1 7-47 49-56 48 40

6. 272,681.73 325,467.15 2,864.34 8.2773 23,709.00 6,962.34 8.2766 57,624.50 70,935,341.88 207,186,517.25 126.28 8.2773 1,045.27 8,657,954.23 8.2766 71,658,423.98 17,382.53 1.0610 18,442.86 18,554.53 1.0606 19,678.93 17,054,483.95 35,225,410.85 88,305,704.69 314,473,122.66 7. 300,000.00 160,371.00 1,077,666.80 1,012,167.56 1,377,666.80 1,172,538.56 8. (%) (%) 1 336,650,876.24 60 (72,430.00) 336,578,446.24 550,386,645.56 52-550,386,645.56 1 2 98,262,055.09 18 (3,442,616.39) 94,819,438.70 240,790,172.17 23-240,790,172.17 2 3 38,422,806.92 7 (16,919,726.59) 21,503,080.33 100,234,298.30 9 (40,093,719.33) 60,140,578.97 3 4 22,877,942.86 4 (14,401,223.59) 8,476,719.27 69,268,138.14 7 (41,560,882.88) 27,707,255.26 4 63,665,485.91 11 (63,665,485.91) - 100,807,778.45 9 (100,807,778.45) - 559,879,167.02 100 (98,501,482.48) 461,377,684.54 1,061,487,032.62 100 (182,462,380.66) 879,024,651.96 41

% 110,396,261.06 19.7 9. 5% 10. (%) (%) 1 158,911,635.11 54-158,911,635.11 371,179,334.79 59-371,179,334.79 1 2 27,819,617.87 9-27,819,617.87 59,084,267.81 9-59,084,267.81 2 3 11,875,980.77 4 (5,217,692.10) 6,658,288.67 23,223,681.12 4 (9,289,472.45) 13,934,208.67 3 4 15,007,998.25 5 (9,014,160.30) 5,993,837.95 106,279,733.38 17 (70,919,360.02) 35,360,373.36 4 80,798,700.97 28 (80,798,700.97) - 160,125,677.74 11 (160,125,677.74) - 294,413,932.97 100 (95,030,553.37) 199,383,379.60 719,892,694.84 100 (240,334,510.21) 479,558,184.63 1,200 50(1) % 172,626,207.50 59 5% 11. 182,462,380.66 240,334,510.21 422,796,890.87 6,498,477.91 10,681,892.05 17,180,369.96 / (107,342.37) (64,129,601.07) (64,236,943.44) (90,352,033.72) (91,856,247.82) (182,208,281.54) 98,501,482.48 95,030,553.37 193,532,035.85 42

9,076 6,288 53(3) 12. % % 1 22,621,039.75 78 189,260,539.42 63 1 2 6,439,342.46 22 65,964,994.04 22 2 3 - - 21,528,926.48 7 3 - - 25,320,206.88 8 29,060,382.21 100 302,074,666.82 100 5% 13. 1,236,423.34-1,236,423.34 1,871,712.89-1,871,712.89 103,315,577.18 (25,749,576.82) 77,566,000.36 189,787,988.38 (36,085,111.80) 153,702,876.58 43,892,430.99 (2,036,961.74) 41,855,469.25 136,254,832.36 (19,402,517.91) 116,852,314.45 89,100,117.31 (17,409,180.30) 71,690,937.01 138,832,548.13 (33,004,822.26) 105,827,725.87 27,878,800.00-27,878,800.00 - - - 265,423,348.82 (45,195,718.86) 220,227,629.96 466,747,081.76 (88,492,451.97) 378,254,629.79 120MW 20MW 2002 12 31 2,788 53(3) 88,492,451.97 963,797.00 (176,603.74) (44,083,926.37) 45,195,718.86 14. 43

652,505.39 730,365.99 670,493.75 1,224,284.27 6,230,519.05-1,048,190.81 256,440.56 8,601,709.00 2,211,090.82 15. ( ) 19,841,538.08 (6,149,464.91) 13,692,073.17 (3,013,966.11) 10,950,107.06 (272,000.00) 10,678,107.06 5,325,645.40 (37,500.00) 5,288,145.40 76,375,008.99 81,663,154.39-81,663,154.39 (1,561,477.11) - (1,561,477.11) (10,080,136.06) (11,641,613.17) - (11,641,613.17) 23,605,706.37 (6,186,964.91) 17,418,741.46 63,280,906.82 80,971,648.28 (272,000.00) 80,699,648.28 6,186,964.91 - (37,500.00) 44

(5,877,464.91) 272,000.00 15. (1) % 10,000,000.00 - - 6.34-10,000,000.00 1,000,000.00 (1,000,000.00) (1,000,000.00) 0.84 - - 1,000,000.00 (1,000,000.00) (1,000,000.00) 1.60 - - 1,964,073.17 (1,013,966.11) (1,013,966.11) - (272,000.00) 678,107.06 13,964,073.17 (3,013,966.11) (3,013,966.11) (272,000.00) 10,678,107.06 (2) % 4,068,352.40 (18,587.78) 334,745.22 49.00-4,403,097.62 ( 53(2)) 75,239,722.48 2,020,334.29 2,020,334.29 42.50-77,260,056.77 ( ) 700,000.00 (700,000.00) (700,000.00) 31.90 - - ( ) 166,460.00 (166,460.00) (166,460.00) 21.00 - - 80,174,534.88 1,135,286.51 1,488,619.51-81,663,154.39

(3) (1,615,321.15) (1,561,477.11) 30 53,844.04 (1,507,633.07) (8,324,578.48) - 15 231,238.29 (8,093,340.19) ( 53(2)) (2,040,639.91) - 10 - (2,040,639.91) (11,980,539.54) (1,561,477.11) 285,082.33 (11,641,613.17) 1

16. 2001 350,130.00 (350,130.00) - 2001 1,900.00-1,900.00 2002 808,177.00 (808,177.00) - 1,160,207.00 (1,158,307.00) 1,900.00 17. 1,122,854,919.98 654,930,859.60 326,613,491.18 2,104,399,270.76 550,172.45 4,783,621.90 2,568,860.84 7,902,655.19 (413,469,093.14) (285,958,732.30) (286,818,239.89) (986,246,065.33) 22,232,085.42 33,101,406.37 945,164.00 56,278,655.79 - (4,097,200.00) (691,000.00) (4,788,200.00) 732,168,084.71 402,759,955.57 42,618,276.13 1,177,546,316.41 244,729,637.68 311,909,485.05 205,287,425.29 761,926,548.02 14,637,726.99 23,126,020.62 2,507,774.40 40,271,522.01 (142,844,848.13) (128,285,594.94) (183,505,671.08) (454,636,114.15) - (4,089,623.69) (569,294.73) (4,658,918.42) 116,522,516.54 202,660,287.04 23,720,233.88 342,903,037.46 104,618,704.65 15,652,345.64 154,382,891.10 34,111,840.81-673,462.00 125,015.89 798,477.89 (24,153,904.65) (30,852,032.54) (15,652,345.64) (70,658,282.83) - (245,966.64) - (245,966.64) 80,464,800.00 3,687,303.63 125,015.89 84,277,119.52 773,506,577.65 308,909,533.74 105,673,720.25 1,188,089,831.64 535,180,768.17 196,412,364.90 18,773,026.36 750,366,159.43 21,105,896.41 16,902,499.56-38,008,395.97

18. % 87,953,292.92 - - (87,953,292.92) - - - - - - 38,903,867.90 6,956,016.78 (43,179,098.98) - 2,680,785.70 95 7,565,261.64 - (7,565,261.64) - - 24,014,472.94 3,865,794.19 (12,165,312.23) 9,339,764.71 80 (6,375,190.19) 3,501,654.73 844,506.64 (3,062,643.89) - 1,283,517.48 24 25 934,244.58 - (934,244.58) - - 246,333.33 - (246,333.33) - - 151,805,878.34 10,821,810.97 (56,278,655.79) (94,328,483.11) 12,020,550.41 (52,090.04) (52,090.04) 151,753,788.30 11,968,460.37 19. 169,955,235.00 146,898,665.32 (86,474,580.47) (1,400,761.37) 59,023,323.48 44.5 450,000.00 405,000.00 264,000.00 - (45,000.00) 624,000.00 9 170,405,235.00 147,303,665.32 264,000.00 (86,474,580.47) (1,445,761.37) 59,647,323.48

5,826,070.57 20. 6,856,913.78 - (4,545,422.12) (1,325,176.10) 986,315.56 5 4,545,422.12 21. - - 87,900,000.00-242,920,000.00 624,890,000.00-147,930,000.00 395,477,000.00 - - 165,486,040.04-43,636,945.09 2,950,000.00 434,486,945.09 1,276,703,040.04 29,000,000.00 17 19 22. 10,000,000.00-4,000,000.00 32,650,000.00 14,000,000.00 32,650,000.00 23. (%) (%) 1 252,238,622.87 74 585,452,827.26 77 1 2 40,611,700.79 12 101,453,342.82 14 2 3 16,357,512.03 5 10,417,011.55 1

3 32,318,053.56 9 60,184,118.65 8 341,525,889.25 100 757,507,300.28 100 5% 24. 5% 25. 903,606.44 4,195,243.94 26. (722,617.19) (3,166,443.11) 8,030,210.24 (5,106,198.56) (32,756.06) 579,465.60 638,124.65 (1,555,564.19) 3,449,467.49 4,380,294.53 11,362,429.13 (4,868,445.73) 27. 254,904.93 430,066.94 4,532,475.62 4,532,475.62 3,047,808.37 3,047,808.37 7,835,188.92 8,010,350.93 28. (%) (%) 1 62,792,684.24 67 148,592,269.24 47 1 2 6,770,785.57 7 88,980,213.73 28 2 3 5,363,149.50 6 19,969,915.77 6 3 17,932,120.06 20 58,736,468.55 19 92,858,739.37 100 316,278,867.29 100

5% 29. 516,921.53 3,554,514.16 3,369,700.00 2,000,000.00 2,856,004.64 1,482,795.92 6,742,626.17 7,037,310.08 30. ( ) 170,410,000.00 498,258,879.02 31. % 8,000,000.00 14,500,000.00 1-2 7.560 19,000,000.00 25,400,000.00 2-3 6.210 9,410,000.00 45,000,000.00 3-4 7.560 72,100,000.00-4 6.21-7.56-23,000,000.00 1-2 6.675-2,000,000.00 2-3 6.675-9,400,000.00 3-4 6.675 143,656,711.01 80,000,000.00 4 6.190-10,000,000.00 1-2 6.210-20,000,000.00 2-3 6.210-30,000,000.00 3-4 6.210-3,308,951.01-3,110,000.00 1-2 7.605 5,000,000.00 5,000,000.00 1-2 7.722 9,600,000.00 17,600,000.00 1-2 7.722 13,500,000.00-2-3 7.56-7.722 2,900,000.00-1-2 8.073 3,000,000.00-1-2 8.073 13,000,000.00-1-2 6.903 150,000.00-1-2 0.00-30,600,000.00 1-2 7.722 16,000,000.00 7,000,000.00 2-3 7.722

3,700,000.00-4 8.073 2,000,000.00-2-3 7.722 12,000,000.00-4 7.722-361,148,879.02 2-3 Libor+1.475% 4,600,000.00 4,600,000.00 2-3 6.210 1,400,000.00 1,400,000.00 2-3 0.00 339,016,711.01 693,067,830.03-109,500,000.00 4 6.210-39,250,000.00 4 6.210-5,000,000.00 1-2 7.614-8,850,000.00 4-162,600,000.00 : ( ) (170,410,000.00) (498,258,879.02) 168,606,711.01 357,408,951.01 32. 95-21,880,487.85 13,240,955.32 1,501,071.80 13,240,955.32 23,381,559.65 33. ( ) ( ) ( ) 1. - 380,520,000.00 (48,000,000.00) 332,520,000.00-91,300,000.00 48,000,000.00 139,300,000.00 471,820,000.00-471,820,000.00 1. 143,600,000.00-143,600,000.00 2. 257,950,000.00-257,950,000.00 401,550,000.00-401,550,000.00 873,370,000.00-873,370,000.00

1. 1 2. 3. (H ) 4. H 5. ( ) 45,052 23,000 2002 2 25 ( ) 23,000 26.34% 4,800 34. 115,547,484.00 - - 115,547,484.00 7,609,544.18 - (3,699,344.18) 3,910,200.00 491,617,902.05 151,814,623.88-643,432,525.93 614,774,930.23 151,814,623.88 (3,699,344.18) 762,890,209.93 1,400 30,085,000 148,115,279.70-3,699,344.18-35. 48,091,633.34 28,284,687.96 32,210,803.10 108,587,124.40 36. (1,263,594,274.99) 4 (14,837,544.28) (1,278,431,819.27) 69,002,412.01

(1,209,429,407.26) 37. 208,075,141.18 557,509,824.63 524,239,619.92 465,592,465.60-61,974,921.91 153,873,591.19 133,914,510.19 27,188,749.12 17,540,127.65 35,752,216.65 39,186,682.78 2,325,133.10 6,223,158.51 951,454,451.16 1,281,941,691.27 202,805,038.18 21% 2002 1 1 38. 146,140,563.83 485,266,244.41 360,279,566.55 414,852,400.72-57,468,158.16 85,952,923.04 84,341,119.29 19,583,480.37 18,174,373.51 25,159,843.92 35,531,535.25 57,888.48 2,733,250.03 637,174,266.19 1,098,367,081.37 39. 7% 4% 5% - 20% 40. - 12,283,746.64 32,111,781.82 - (8,737,183.96) (29,992,404.22) 3,546,562.68 2,119,377.60

- 49,934,439.41 26,059,734.71 - (18,502,573.35) (11,726,880.62) 31,431,866.06 14,332,854.09 34,978,428.74 16,452,231.69 41. 65,760,685.22 136,151,463.51 873,058.11 41,040.69 256,741.22 135,976.10 1,142,877.03 2,886,024.28 66,287,245.36 139,132,423.20 42. 2,001,746.51 247,659.15 60,135,842.13-1,500,000.00 203,926.25 285,082.33 53,844.04 460,964.96 (172,000.00) 64,383,635.93 333,429.44 100% 2001 12 31 2002 1 1 60% 54 43. 480,016.03 3,730,000.00 44.

425,774.16 759,805.83 216,262.00 64,459.19 1,323,718.20 317,951.26 1,965,754.36 1,142,216.28 45. 552,541.25 154,434,981.14 14,106.51-1,668,097.16 6,705,138.76 2,234,744.92 161,140,119.90 46. - - 5,370,721.74 (1,806,562.86) 5,370,721.74 (1,806,562.86) 47. 90% 48. (1) (%) (%) 1 106,844,284.00 85-106,844,284.00 249,408,121.82 64-249,408,121.82 1 2 19,509,988.47 15 (1,470,227.32) 18,039,761.15 3,280,784.32 1-3,280,784.32 2 3 - - - - - - - - 3 4 - - - - 92,878,800.00 35 (62,878,800.00) 30,000,000.00 4 - - - - - - - - 126,354,272.47 100 (1,470,227.32) 124,884,045.15 345,567,706.14 100 (62,878,800.00) 282,688,906.14

48. ( ) (2) 388,773,416.27-388,773,416.27 123,399,148.00 (119,746,308.40) 392,426,255.87-392,426,255.87 384,351,730.87-384,351,730.87 46,157,680.68 (119,746,308.40) 310,763,103.15-310,763,103.15 4,421,685.40-4,421,685.40 77,241,467.32-81,663,152.72-81,663,152.72 - - - (8,324,578.48) 231,238.29 (8,093,340.19) - (8,093,340.19) 10,000,000.00-10,000,000.00 - - 10,000,000.00-10,000,000.00 398,773,416.27-398,773,416.27 115,074,569.52 (119,515,070.11) 394,332,915.68-394,332,915.68 119,746,308.40 % 10,000,000.00 - - 6.34-10,000,000.00 33

(2) ( ) % 25 4,068,352.40 334,743.55 49.00-4,403,095.95 15 75,239,722.48 2,020,334.29 42.50-77,260,056.77 79,308,074.88 2,355,077.84-81,663,152.72 (8,324,578.48) - 15 231,238.29 (8,093,340.19) ( 53(2))

48. ( ) (2) ( ) 1,388,383,413.00 17,658,585.45 (666,690,793.00) 739,351,205.45 1,011,502,691.36 28,499,095.23 554,415,493.83 (428,588,102.30) 7,471,009.23 - (7,471,009.23) - 384,351,730.87 46,157,680.68 (119,746,308.40) 310,763,103.15 (3) 264,999.99 - (29,999.99) 235,000.00 5 (4) ( ) - 361,148,879.02 (5) 60,135,842.13-8,997,570.09 (655,799,381,64) 1,500,000.00-231,238.29-70,864,650.51 (655,799,381,64) 42 49. (1)

(2) 76,000,000.00 59,000,000.00-135,000,000.00 1,320,000,000.00 - - 1,320,000,000.00 (3) % % % % - - 230,000,000.00 26.34 - - 230,000,000.00 26.34 380,520,000.00 43.56 - - (369,520,000.00) (42.30) 11,000,000.00 1.26 33.4 (4) 49. ( ) (5) - 32,367,521.37 183,760.68 4,075,418.80-367,521.37 2,119,658.12 -

2,303,418.80 36,810,461.54-28,231,851.91-1,231,522.58 24,279,096.00 22,380,755.98 302,100.00 1,027,971.79 24,581,196.00 52,872,102.26 49. (6) 8,761,798.72 16,793,977.81 72,227,208.09 78,055,531.20 3,415,167.69 57,151,207.05 25,325,684.19 98,260,831.32 109,729,858.69 250,261,547.38 14,382,358.00 7,506,942.60 467,007.00 118,830.00 19,133,101.52 5,037,987.82 33,982,466.52 12,663,760.42 75,747,392.17 237,597,786.96 75,747,392.17 75,085,552.17 661,840.00 50. (1) ( ) 2,000 16,553.20 2,000 2002 12 31

800 1, 200 9, 923.30 (2) 3,000 2001 12 2, 640 (3) ( ) 2,000 2001 7 2001 7 2 2000 8 29 2000 422 (4) 46,259 2002 12 31 17, 535 28,724 51. 52.

53. (1) 2002 5 29 4000 65% 2,600 2002 5 30 2002 11 21 1,800 800 1,400 148,115,279.70 (2) 2002 8 1 6,690 33% 5,200 2002 7 20 33% 2002 7 29 9.5% 1,490 7,523 833 42.5% 15(3) (3) 9,600 4,600 5,000 [2002] 378 120MW 20MW 13,082.92 9,076 6,288 2,788 2002 12 31 2,788 13 54. (1) 2002 4 24 320,565,000 320,564,999

1 2001 12 31 112,386,469.94 15,000 2002 4 24 2001 1 1 2002 1 1 2001 12 31 2002 1 1 150,000,000.00 2001 12 31 112,386,469.94 2002 1 1 (9,882,150.53) 47,495,680.59 150,000,000.00 2001 12 31 105,308,563.99 44,691,436.01 1,136,814,308.05 3,959,439.11 550,506,743.18 95,088,427.98 1,786,368,918.32 1,530,782,880.55 136,380,487.85 1,667,163,368.40 6,819,079.98

54. (1) ( ) 208,075,141.18 622,600,345.05 61,775,947.73 76,202,416.92 (9,883,296.77) (360,640,943.00) (1,146.24) (1,763,303.47) (9,882,150.53) (354,106,865.93) 1.5 2002 6 4 (2) 2002 11 10 300 180 60% 90 30 2002 6 30 13,142,743.52 2,000 2002 11 10 2002 12 19 20,000,000.00 60% 2002 11 30 7,359,838.46 12,640,161.54 2002 12 31 18,000,000.00 2002 11 30 1,032,933.73 16,967,066.27

54. (2) 6,295,655.02 6,751,504.78 4,773,408.28 5,077,630.02 4,545,422.13 5,590,159.71 15,614,485.43 17,419,294.51 3,348,087.47 4,806,006.42 3,348,087.47 4,806,006.42 2,325,133.10 3,467,560.00 2,083,731.61 2,729,423.60 (323,668.79) (11,509,919.36) 23,221.34 (43,259.39) (346,890.13) (11,466,659.97) 55. 1. 1998 2003 1 20 2. 2000 53. 2003 4 14

2002 1. (%) ( / ) 57.37 84.13 0.35 0.35 2.55 3.73 0.016 0.016 12.89 18.90 0.08 0.08 1.62 2.37 0.01 0.01 2. 1 422,796,890.87 17,180,369.96 (64,236,943.44) (182,208,281.54) 193,532,035.85 182,462,380.66 6,498,477.91 (107,342.37) (90,352,033.72) 98,501,482.48 240,334,510.21 10,681,892.05 (64,129,601.07) (91,856,247.82) 95,030,553.37 2 - - - - - - - - - - - - - - - 3 88,492,451.97 963,797.00 (176,603.74) (44,083,926.37) 45,195,718.86 33,004,822.26 - (176,603.74) (15,419,038.22) 17,409,180.30 36,085,111.80 963,797.00 - (11,299,331.98) 25,749,576.82 19,402,517.91 - - (17,365,556.17) 2,036,961.74 4 6,186,964.91 - (37,500.00) (5,877,464.91) 272,000.00 6,186,964.91 - (37,500.00) (5,877,464.91) 272,000.00 - - - - - 5 154,382,891.10 798,477.89 (245,966.64) (70,658,282.83) 84,277,119.52 104,618,704.65 - - (24,153,904.65) 80,464,800.00 34,111,840.81 673,462.00 (245,966.64) (30,852,032.54) 3,687,303.63 15,652,345.64 125,015.89 - (15,652,345.64) 125,015.89 6 - - - - - - - - - - - - - - - 7 52,090.04 - - - 52,090.04 8 - - - - -

3. 2002 12 31 69,002 535,418 2002 2002 12 31 69,002,412.01 535,417,927.07 (6,300,000.00) - 148,115,279.70 - (5,375,407.77) 609,920.08 205,442,283.94 536,027,847.15 4. 30%( 30%) 2002 2001 ( ) ( ) % 88,306 206,377 (118,071) (57) A 199,384 350,767 (151,383) (43) B 220,228 166,506 53,721 32 C 80,670 14,405 66,295 460 D 11,968 57,425 (45,457) (79) E 339,017 693,068 (354,051) (51) F 13,241 1,501 11,740 782 G 243,332 97,778 145,554 149 H 34,238 16,002 18,236 114 I 136,561 338,545 (201,984) (60) J 50,818 78,316 (27,318) (35) K 64,212 222 63,990 28,860 L 1,139 84,852 (83,713) (99) M A. 57% B. 33% 42.5% C. 32%

D. 460% 42.5% E. 79% F. 51% G. 782% H. 149 ABB 4,100 I. 114% J. 60% 2001 12,111 2,301 K. 35% L. 28860% 6,013 M. 99% 8,046