2

ST 000980

2

4 5 6 9 11 12 14 46 3

HUANGSHAN JINMA CO.,LTD HSJM 0559-6537831 0559-6537888 hsjm@21cn.com 1 245200 http://www.hsjinma.com hsjinma@mail.ahwhptt.net.cn http://www.cninfo.com.cn ST 000980 1998 8 31 3400001300055 341021711767072 4

2004 6 30 2003 12 31 435,930,548.91 367,520,408.69 262,026,441.42 192,511,923.89 657,842,534.48 584,804,231.50 ( ) 388,952,586.90 385,782,851.00 2004 1 6 2003 1 6 3,169,735.90-1,964,397.66 3,055,803.47-21,057,509.44 14,246,136.49 5,712,312.25 3,409,853.03-21,057,509.44-82,207,381.95-17,541,674.57 9 2004 % 0.81 0.82 0.02 0.02 2.59 2.59 2.59 2.59 :1 204,813.92 2 32,660.74 3 123,542.23 5

2004 6 30 192,000,000 92,000,000 90,302,980-90,302,980-90,302,980 0 1,697,020 +90,302,980 +90,302,980 92,000,000 2 3 4 92,000,000 92,000,000 1 58,000,000 58,000,000 2 1 2 58,000,000 58,000,000 150,000,000 150,000,000 2003 4 25 90% 6

10% 2003 9 17 [2003]212 2004 3 24 [2004]14 90,302,980 1 25317 2 2004 6 30 % 1 90,302,980 60.2 2 652,700 0.44 3 463,143 0.31 A 4 391,620 0.26 5 326,350 0.22 6 326,350 0.22 7 214,164 0.14 A 8 181,700 0.12 A 9 180,331 0.12 A 10 180,000 0.12 A 3 2004 6 30 % 1 463,143 0.31 A 2 214,164 0.14 A 3 181,700 0.12 A 7

4 180,331 0.12 A 5 180,000 0.12 A 6 178,800 0.12 A 7 177,760 0.12 A 8 174,948 0.12 A 9 163,000 0.11 A 10 159,513 0.10 A 1 2 3 5% 90302980 60.2% 1997 10 24 13000 4 5 2003 9 17 [2003]212 2004 3 24 [2004]14 2004 3 25 8

1996 12 20 10180 90% 10% 2004 3 12 9

2004 3 13 2003 2004 3 13 2004 2004 4 17 2004 10

1 14,246,136.49 3,169,735.90 2 3206.25 2597.26 18.99% 1726.07 1478.77 14.33% 1960.18 1373.26 29.94% 10% 1 2 3 ( ) 1 1.258 2004 6 30 2637.10 2 11

2003 4 25 13000 60.2 11700 90% 1300 10% 2003 5 12 6 3 2003 9 17 [2003]212 2004 3 24 [2004]14 50% 12

7070.43 2794.78 700 2003 2004 1 2004 2 13 *ST ST 2 2004 2 18 3 2004 3 12 13

1 2004 6 30 2003 12 31 2004 6 30 2003 12 31 177,917,392.48 198,508,300.70 176,742,577.89 192,074,585.07 300,000.00 300,000.00 300,000.00 300,000.00 3,283,811.00 13,569,379.53 3,283,811.00 13,499,379.53 - - - - 56,544,848.70 59,075,667.89 37,268,599.52 40,580,030.75 150,704,799.25 58,268,746.61 151,554,854.79 58,922,272.70 3,186,168.68 2,147,680.58 3,070,303.85 2,017,194.88-43,912,465.08 35,566,591.31 36,082,321.85 30,150,339.88 81,063.72 84,042.07 81,063.72 84,042.07 - - - - 435,930,548.91 367,520,408.69 408,383,532.62 337,627,844.88 7,602,400.00 7,602,400.00 53,373,143.55 51,012,089.15 7,602,400.00 7,602,400.00 53,373,143.55 51,012,089.15 183,145,576.11 185,127,250.94 148,770,387.83 151,112,052.66 43,785,712.21 39,996,868.97 40,628,777.74 38,170,302.87 139,359,863.90 145,130,381.97 108,141,610.09 112,941,749.79 : 12,629,880.28 12,629,880.28 12,629,880.28 12,629,880.28 126,729,983.62 132,500,501.69 95,511,729.81 100,311,869.51 23,583,782.14 12,523,793.43 16,300,194.10 11,569,934.95-14

150,313,765.76 145,024,295.12 111,811,923.91 111,881,804.46 63,995,819.81 64,657,127.69 63,995,819.81 64,657,127.69 63,995,819.81 64,657,127.69 63,995,819.81 64,657,127.69 657,842,534.48 584,804,231.50 637,564,419.89 565,178,866.18 2 2004 6 30 2003 12 31 2004 6 30 2003 12 31 231,500,000.00 152,500,000.00 226,500,000.00 147,500,000.00 2,132,000.00 188,594.01 2,132,000.00 188,594.01 30,584,048.36 38,868,984.94 26,696,747.28 34,985,119.47 207,522.70 1,271,818.45 6,420.00 1,270,818.45 686,645.37 1,031,271.78 299,263.64 499,954.78 2,964,840.92 2,318,217.01 2,150,994.41 1,703,497.79 - - -14,734,172.07-13,344,286.16-17,179,971.74-15,819,311.91 52,641.22 90,584.07 39,063.87 76,008.75 7,997,078.79 9,586,739.79 7,331,479.40 8,991,333.84 635,836.13 635,836.13 - - - - - - - - 262,026,441.42 192,511,923.89 248,611,832.99 179,396,015.18 15

262,026,441.42 192,511,923.89 248,611,832.99 179,396,015.18 6,863,506.16 6,509,456.61 150,000,000.00 150,000,000.00 150,000,000.00 150,000,000.00 150,000,000.00 150,000,000.00 150,000,000.00 150,000,000.00 305,225,090.65 305,225,090.65 305,225,090.65 305,225,090.65 12,175,072.65 12,175,072.65 12,175,072.65 12,175,072.65 6,087,536.33 6,087,536.33 6,087,536.33 6,087,536.33-78,447,576.40-81,617,312.30-78,447,576.40-81,617,312.30 388,952,586.90 385,782,851.00 388,952,586.90 385,782,851.00 657,842,534.48 584,804,231.50 637,564,419.89 565,178,866.18 3 2004 1-6 2003 1-6 2004 1-6 2003 1-6 68,924,929.08 54,115,600.51 49,323,125.62 54,115,600.51 54,492,893.35 48,199,038.01 38,660,265.65 48,199,038.01 185,899.24 204,250.25 95,832.48 204,250.25 14,246,136.49 5,712,312.25 10,567,027.49 5,712,312.25-644,047.81 273,062.83 262,486.44 273,062.83 2,356,234.72 4,296,032.86 2,135,254.62 4,296,032.86 4,402,717.60 19,852,530.01 3,411,912.92 19,852,530.01 4,721,378.95 2,894,321.65 4,555,924.06 2,894,321.65-3,409,853.03-21,057,509.44 726,422.33-21,057,509.44 2,361,054.39-16

- 204,813.92 193,813.92-32,660.74 19,810,505.29 11,760.74 19,810,505.29 123,542.23 717,393.51 123,315.48 717,393.51 3,523,785.46-1,964,397.66-3,169,735.90-1,964,397.66-354,049.56-3,169,735.90-1,964,397.66 3,169,735.90-1,964,397.66 1. 2. 3. 4. 5. 6. 4 2004 1-6 2003 1-6 2004 1-6 2003 1-6 3,169,735.90-1,964,397.66 3,169,735.90-1,964,397.66-81,617,312.30-90,423,103.99-81,617,312.30-90,423,103.99-78,447,576.40-92,387,501.65-78,447,576.40-92,387,501.65 17

-78,447,576.40-92,387,501.65-78,447,576.40-92,387,501.65-78,447,576.40-92,387,501.65-78,447,576.40-92,387,501.65 5 2004 1-6 % 3.66 3.68 0.09 0.09 0.88 0.88 0.02 0.02 0.81 0.82 0.02 0.02 0.79 0.79 0.02 0.02 6 2004 1-6 91,952,198.36 69,495,752.51 204,813.92 193,813.92 840,929.66 619,355.43 92,997,941.94 70,308,921.86 74,327,930.40 58,442,864.97 6,300,731.29 4,464,167.57 3,936,436.75 2,938,655.52 18

90,640,225.45 88,287,917.77 175,205,323.89 145,133,605.83-82,207,381.95-83,824,683.97 - - - 12,120,273.29 5,409,525.12 12,120,273.29 5,409,525.12-12,120,273.29-5,409,525.12 - - - - 175,950,000.00 175,950,000.00 - - 175,950,000.00 175,950,000.00 96,950,000.00 96,950,000.00 5,263,252.98 5,097,798.09 102,213,252.98 102,047,798.09 73,736,747.02 73,902,201.91 - - -20,590,908.22-15,332,007.18 7 1. 3,169,735.90 3,169,735.90 354,049.56 410,780.50 410,780.50 5,028,827.65 3,698,469.28 661,307.88 661,307.88 2,978.35 2,978.35 635,836.13 635,836.13 19

5,017,252.98 4,851,798.09-2,361,054.39-8,345,873.77-5,931,981.97-79,267,679.55-79,014,327.11-9,874,597.58-9,948,226.63-82,207,381.95-83,824,683.97 2. 3. 177,917,392.48 176,742,577.89 198,508,300.70 192,074,585.07-20,590,908.22-15,332,007.18 8 2004 6 30 2004 1 1 2004 6 30 12,225,571.47 623,015.00 212,234.50 12,636,351.97 8,632,417.79 212234.50 8,420,183.29 3,593,153.68 623,015.00 4,216,168.68 - - - 5,056,888.41 5,056,888.41 4,989,913.10 4,989,913.10 66,975.31 66,975.31 - - - 12,629,880.28 12,629,880.28 20

7,323,816.33 7,323,816.33 5,306,063.95 5,306,063.95 - - - - - 9 2004 1-6 2003 150,000,000.00 150,000,000.00 150,000,000.00 150,000,000.00 305,225,090.65 301,186,482.87 4,038,607.78 4,038,607.78 305,225,090.65 305,225,090.65 6,087,536.32 6,087,536.32 21

6,087,536.32 6,087,536.32 6,087,536.32 6,087,536.32 6,087,536.33 6,087,536.33 6,087,536.33 6,087,536.33-81,617,312.30-90,423,103.99-3,169,735.90 8,805,791.69 - -78,447,576.40-81,617,312.30 : 1998 269 2000 5 11 2000 5 19 A 5800 2000 6 1 3400001300055 15,000 22

1 2 3 4 5, 6 7 1 2 1 5% 1-2 10% 2-3 20% 3-4 40% 4-5 75% 5 100% 8 23

9 10 1 a b c 2 a b 24

10 c 20% 20% 20% 3 11 1 2000 2 (%) ( ) (%) 3 20-40 4.85 2.43 3 5-14 19.40 6.93 3 8-12 12.13 8.08 3 12-18 8.08 5.39 25

3 12 1 2 3 13 1 2 26

3 10 1 2 3 14 15 16 17 1 27

2, 18 1 a b c d 2 a b 3 a b 19 50% 50% 1995 11 1996 2 28

1 17% 2 5% 3% 3 33% 4 1 % 4,600 86.96 4,038.61 2 [2003]12 2003 1 2004.06.30 2003.12.31 13,163.01 177,305.84 177,356,284.67 196,363,154.46 547,944.80 1,967,840.40 177,917,392.48 198,508,300.70 2 29

2004.06.30 2003.12.31 300,000.00-300,000.00-2002 9 13 297,600, 300,000.00 3 2004.06.30 2003.12.31 3,283,811.00 13,569,379.53 1 5% 5% 2 75.80% 4 1 2004.06.30 (%) 1 48,853,704.05 75.20 2,442,685.20 46,411,018.85 1-2 4,781,426.35 7.36 478,142.64 4,303,283.71 2-3 6,067,733.99 9.34 1,213,546.80 4,854,187.19 3 5,262,167.60 8.10 4,285,808.65 976,358.95 64,965,031.99 100.00 8,420,183.29 56,544,848.70 5% 5% 16,344,457.77 25.16% 2 2003.12.31 (%) 1 47,651,985.79 70.38 2,382,599.28 45,269,386.51 1-2 3,692,462.07 5.45 369,246.20 3,323,215.87 2-3 8,433,578.56 12.46 1,686,715.70 6,746,862.86 3 7,930,059.26 11.71 4,193,856.61 3,736,202.65 30

67,708,085.68 100.00 8,632,417.79 59,075,667.89 5 1 2004.06.30 (%) 1 142,001,684.49 91.66 2,406,821.23 139,594,863.26 1-2 8,531,267.06 5.51 853,126.71 7,678,140.35 2-3 3,994,929.09 2.58 798,985.82 3,195,943.27 3 393,087.29 0.25 157,234.92 235,852.37 154,920,967.93 100.00 4,216,168.68 150,704,799.25 60.20% 70,704,297.28 7,000,000.00 150.43% 126,164,297.28 81.44% 70,704,297.28 2003 19,460,000.00 2004 15,000,000.00 2004 14,000,000.00 2004 7,000,000.00 2004 2 2003.12.31 (%) 1 55,828,706.06 90.25 2,791,435.30 53,037,270.76 1-2 4,587,191.02 7.42 458,719.10 4,128,471.92 2-3 1,208,160.01 1.95 241,632.00 966,528.01 31

3 237,843.20 0.38 101,367.28 136,475.92 61,861,900.29 100.00 3,593,153.68 58,268,746.61 6 1 2004.06.30 2003.12.31 (%) (%) 1 2,352,985.57 73.85 1,542,219.95 71.81 1-2 421,848.73 13.24 325,370.01 15.15 2-3 285,162.10 8.95 205,288.75 9.56 3 126,172.28 3.96 74,801.87 3.48 3,186,168.68 100.00 2,147,680.58 100.00 1 5% 5% 2 833,183.11 3 48.35% 7 1 2004.06.30 7,524,797.84 66,975.31 7,457,822.53 34,867,491.53 4,989,913.10 29,877,578.43 3,339,274.19-3,339,274.19 823,479.00-823,479.00 254,160.12 2,160,150.81-254,160.12 2,160,150.81 48,969,353.49 5,056,888.41 43,912,465.08 2003.12.31 32

2 7,024,140.00 66,975.31 6,957,164.69 29,251,398.68 4,989,913.10 24,261,485.58 2,852,555.85-2,852,555.85 1,108,347.70-1,108,347.70 387,037.49-387,037.49 40,623,479.72 5,056,888.41 35,566,591.31 3 2003.12.31 2004.06.30 66,975.31-66,975.31 4,989,913.10-4,989,913.10 5,056,888.41-5,056,888.41 8 2004.1.1 2004.06.30 84,042.07 2,978.35 81,063.72 9 1 2004.1.1 2004.06.30 4,382,400.00-4,382,400.00 : - - - - - - - - - - - - 3,220,000.00 - - 3,220,000.00 7,602,400.00-7,602,400.00 2 % 4,000,000 0.5510 4,000,000.00 30,000 0.0315 38,400.00 33

118,300 0.0122 344,000.00 4,382,400.00 3 ( ) (%) 10 225,000,000 0.187 420,000.00 10 26,000,000 10.00 2,600,000.00-72,320,000 0.14 100,000.00-100,000,000 0.1 100,000.00 - - - 3,220,000.00 10 2004.1.1 2004.06.30 98,989,114.87 424,627.90 2,577,454.81 96,836,287.96 81,938,537.28 146,552.08 82,085,089.36 4,199,598.79 88,250.00 63,650.00 4,224,198.79 185,127,250.94 659,429.98 2,641,104.81 183,145,576.11 11,604,700.57 1,577,478.40 1,281,096.49 11,901,082.48 27,275,354.70 3,272,687.40 30,548,042.10 1,116,813.70 222,860.93 3,087.00 1,336,587.63 39,996,868.97 5,073,026.73 1,284,183.49 43,785,712.21 145,130,381.97 139,359,863.90 34

2004.1.1 2004.06.30 7,323,816.33 - - 7,323,816.33 5,306,063.95-5,306,063.95 12,629,880.28-12,629,880.28-5,000,000.00 10,186,907.63 17,038,728.88 11 1 2004.1.1 2004.06.30 7,132,936.90 2,775,056.96-9,907,993.86 720,590.00 9,100.00 10,800.00 718,890.00 3,716,408.05 1,956,902.19 - - 5,673,310.24 883,858.48 5,963,377.06-6,847,235.54 70,000.00 366,352.50 436,352.50 12,523,793.43 11,070,788.71 10,800.00 23,583,782.14 2 2004.06.30 % 9,907,993.86 12,580 20.97 718,890.00 2,980 76.83 6,847,235.54 - - 5,673,310.24 1,422 39.90 436,352.50 - - 23,583,782.14 - - - 3 4 12 35

2003.1.1 2004.06.30 65,874,984.55 64,657,127.69 661,307.88-1,879,164.74 63,995,819.81 48.67 65,874,984.55 64,657,127.69 661,307.88-1,879,164.74 63,995,819.81 -, 13 2004.06.30 2003.12.31 226,500,000.00 147,500,000.00 5,000,000.00 5,000,000.00 231,500,000.00 152,500,000.00 51.80% 14 2004.06.30 2003.12.31 2,132,000.00 188,594.01 2,132,000.00 188,594.01 1 5% 5% 2 1030.47% 15 2004.06.30 2003.12.31 (%) (%) 1 25,528,505.17 83.47 33,349,899.75 85.80 1-2 4,171,664.20 13.64 4,878,304.42 12.55 2-3 385,359.01 1.26 316,506.88 0.82 3 498,519.98 1.63 324,273.89 0.83 30,584,048.36 100.00 38,868,984.94 100.00 5% 5% 36

16 2004.06.30 2003.12.31 (%) (%) 1 151,927.37 73.21 1,017,423.82 80.00 1-2 25,629.05 12.35 208,045.23 16.36 3 29,966.28 14.44 46,349.40 3.64 207,522.70 100.00 1,271,818.45 100.00 1 5%( 5%) 2 1 55,595.33 17 2004.06.30 2003.12.31 (%) (%) 1 4,970,184.47 62.15 6,217,475.69 64.85 1-2 1,936,892.48 24.22 354,845.49 29.31 2-3 746,927.16 9.34 2,810,220.66 3.70 3 343,074.68 4.29 204,197.95 2.14 7,997,078.79 100.00 9,586,739.79 100.00 5% 5% 1,347,021.00 2003 1,306,894.20 2003 205,200.00 2002 18 2004.06.30 2003.12.31 686,645.37 1,031,271.78 19 2004.06.30 2003.12.31 37

-15,334,142.64* 1-15,334,142.64 33% 581,556.60 1,955,099.12 17% -63,113.03-34,604.80 5% 1,221.70 1,233.10-64,000.00 64,000.00 5% 16,305.30 4,129.06 - -14,734,172.07-13,344,286.16 - * 1 [2002] 254 16,720,585.29, 50% 20 2004.06.30 2003.12.31-72,133.75-55,927.76 3% 124,774.97 146,511.83 0.6 52,641.22 90,584.07-21 2004.06.30 2003.12.31 246,000.00 238,824.39 151,011.74 635,836.13-635,836.13 22 2004.01.01 + - 2004.06.30 1 92,000,000 - - - - - 92,000,000 38

90,302,980 - - -90,302,980-90,302,980 0 1,697,020 - - - +90,302,980 +90,302,980 92,000,000 - - - - - - - - - - - - - - 2 - - - - - - - 3 - - - - - - - 4 - - - - - - - - - - - - - - 92,000,000 - - - - - 92,000,000 1 58,000,000 - - 58,000,000 2 - - - - - - - 3 - - - - - - - 4 - - - - - - - 58,000,000 - - - - - 58,000,000 150,000,000 - - - - - 150,000,000 23 2004.01.01 2004.06.30 297,777,896.35 - - 297,777,896.35 3,408,586.52 - - 3,408,586.52 4,038,607.78-4,038,607.78 305,225,090.65-305,225,090.65 24 2004.1.1 6,087,536.32 6,087,536.33 12,175,072.65 - - - - - - 2004.06.30 6,087,536.32 6,087,536.33 12,175,072.65 25 39

2004 1-6 2003 1-6 -81,617,312.30-90,423,103.99 3,169,735.90-1,964,397.66 - - - - - - -78,447,576.40-92,387,501.65 26 2004 1-6 2003 1-6 32,062,466.66 39,029,610.00 17,260,658.96 15,085,990.51 19,601,803.46-68,924,929.08 54,115,600.51 27.37% 19,601,803.46 19,601,803.46 24,310,844.81 35.27% 27 2004 1-6 2003 1-6 25,972,604.36 34,595,440.10 14,787,701.29 13,603,597.91 13,732,587.70-54,492,893.35 48,199,038.01 13.06% 15,832,627.70 40

28 2004 1-6 2003 1-6 114,458.50 127,830.08 5% 71,440.74 76,420.17 3% 5% 185,899.24 204,250.25 29 2004 1-6 2003 1-6 621,253.20 127,935.52 22,794.61 145,127.31 644,047.81 273,062.83 135.86% 30 353,391.85 28,169.52 381,561.37 2004 1-6 2003 1-6 5,263,252.98 7,225,680.30 : 565,434.86 4,337,328.35 23,560.83 5,969.70 4,721,378.95 2,894,321.65 63.12% 31 2004 1-6 2003 1-6 204,813.92 204,813.92 32 41

2004 1-6 2003 1-6 172,272.23 32,108.94 115,133.33 19,520,000.00 551.80 3,099.73 32,660.74 19,810,505.29 99.84% 33 2004 1-6 2003 1-6 219,194.50 323,358.17 100,191.34 141,546.60 23,350.89 33,294.24 123,542.23 717,393.51 34 565,434.86 275,494.80 840,929.66 40 249,083.36 945,328.83 1,417,968.30 196,302.00 516,945.59 339,146.29 800,873.96 42

777,303.25 40,500.85 512,476.20 258,876.08 100,191.34 303,620.42 773,846.57 27,947,762.41 7,000,000.00 48,460,000.00 90,640,225.45 1 1, 2 : 2004.01.01 2004.06.30 13,000.00 - - 13,000.00 10,180.00 - - 10,180.00 43

3 : 2004.01.01 2004.06.30 (%) (%) (%) (%) 9,030.298 60.20 - - - - 9,030.298 60.20 2 2004.06.30 2003.12.31 70,704,297.28 42,756,534.87 7,000,000.00 452,172.81 1 2004 6 30 6,000 ( ) 900 2004.11.21 1,155 2004.9.4 1345 1300 1300 2005.1.7 2005.1.6 2005.1.5 2 2004 6 30 16650 ( ) 1,500 2005.4.18 325 2005.5.25 1,800 2005.5.16 1200 2005.6.17 1025 2005.6.22 44

3,000 2004.8.20 1000 1100 2005.1.18 2005.1.17 700 2004.12.29 2700 2005.5.11 2300 2005.5.27 3 2004 6 30 700 4, 2003 5 1 2005 4 30 16 2003 4 25, - 11700 90% 1300 10%, 54.18% 6.02% 2003 9 17 [2003]212 9,030.298 2004 3 24 [2004]14 ST 1 2 45

1 2004 2 3 4 2004 7 29 46