( ) 00 00 1

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3

Chongqing Three Gorges Water Conservancy and Electric Power Co., Ltd. TGWC 600116 72 183 404000 http://www.cqsxsl.com sxsldb@vip.sina.com ( ) 183 023-63801161 023-63801165 sxsldb@vip.sina.com http://www.sse.com.cn 4

356,444,473.40 370,178,674.11-3.71 524,317,605.43 510,602,627.67 2.69 1,178,468,666.83 1,167,087,056.55 0.98 398,100,165.31 387,605,309.33 2.71 2.28 2.22 2.70 1.98 2.02 1 6-1.98 10,166,639.64 4,416,045.95 130.22 10,298,744.23 3,339,625.64 208.38 0.058 0.025 132.00 2.55 1.14 123.68 % 28,984,057.13 36,593,120.47-20.79 2004 1-6 192,383.73 362,879.32 38,391.00-132,104.59 5

34,182 3698.2 21.16% 3273.6 18.73% 1100 6.29% ( ) 996.16 5.70% 770 4.41% 369.6 2.11% 354.09 2.03% 110 0.63% 110 0.63% 68.20 0.39% : 1 5% 5% 2 1 2 3 4 A B H 178304 A 170000 A 139700 A 113000 A 105000 A 93000 A 6

91100 A 91000 A 91000 A 90500 A 2003 9 6 3,698.2 11,507.7721 2004 1 16 5 2004 4 23-24 2004 4 2006 6 2004 6 16, 2004 6 2006 6 7

1 2.61 2.16 20.90% 3.53 3.38 4.47% 165,935,753.44 2.78% 59,567,230.61 28.05% 10,166,639.64 130.22% 2 10% 1 90% 79.98% 135,588,570.58 85,947,417.66 35.14 % 2 8,610,856.80 14.46% 15,212,223.40 5,570,344.39 56.60% 3 2004 3,870 4 5 10% 10% 6 1, 8

2 3 1 2000 2 1 2003 8 23 508 35KV 2004 1 2 2004 2 18 2004 2004 2 19, 2004 2 29 2172 2004 3 2 3 2004 2 18 2004 -- 110KV 1200 2004 12 2004 2 19 << >> << >> 2004 7 21 1,150 95.83% 4 2004 2 18 2004 1600 2004 12 2004 2 19 << >> << >> 2004 6 28 1,558 97.38% 5 2004 2 18 2004 35KV -- 110KV -- 10KV 300 2004 12 2004 2 19 9

1 2003 2003 1997 12 2000 6 133,334,120.04 80% 106,000,000.00 11,328.81 80% 2003 19,663.05 2003 4,991.76 2003 24,654.01 2003 2 80% 700 3 2004 1 2 [2004]2, 0.008 2004 1 1 2004 6 22 [2004]61 (2004)380 3.3 0.94 2004 6 21 2004 7 27 [2004]72 3.1 2004 8 1 810 10

4 91.43% [2004]43 2004 6 15 2003 468.86 424.96 5 6 2004 4 19 [2004]16 676.106 2004 2006 1 2 5 1 1 2003 56 2 11

3 4 2 1 2 3 1 2 3 2003 2003 2003, 2003 2003 ( 2004 6 17 ) 1 2004 2 5 2002 12 31 6,431,745.23 182 6,431,745.23 2002 12 31 2004 2 12 2002 12 31 600 431,745.23 12

1 600 2004 160 15 30 40 75 2005 200 240 2006 2005 2006 2004 2 42,168 16,867 21,728 80,763 40,000 40,763 2004 2 14 45 2 2004 3 15 ( 2003 4 14 ) 1999 3 10 5,000 2003 9 28 ( 2003 3 29 ) 50,000,000.00 3,946,030.93 2004 5 21 1 50,000,000.00 2004 3 31 3,946,030.93 2004 3 31 2 3 10 279,740 111,896 391,636 2004 6 16 2003 133,334,120.04 2003 80% 106,000,000 2004 2003 6 3 2004 7 6 3 2001 6 20 2003 3 28 13

5,642,836.00 2004 3 25 3,140,331.30 2,502,504.35 2004 5 12 2,502,504.35 2003 6 3 4 2004 3 23 ( 2004 4 1 ) 1998 12 8 1,000 2004 1 8 ( 2004 3 26 ) 1,000 2004 5 26 1 10,000,000.00 2004 3 20 969,985.11 2004 3 20 2 3 10 60,010 24,004 84,014 2004 6 16 2003 133,334,120.04 2003 80% 106,000,000 2004 2004 6 7 2004 7 6 5 2003 12 11 89.31% 2003 12 26 2001 11 20 2002 4 1,000 14

2003 11 19 375 2002 12 20 375 2004 5 25 1 375 2002 12 20 2 3 28,760 8,628 37,388 2002 2004 6 10 6 2003 12 1 ( 2003 12 25 ) 2000 6 5 2002 4 2,760 2003 6 4 ( 2003 6 26 ) 2760 242.19 2004 6 10 1 27,600,000.00 2003 12 20 1,552,756.00 27,600,000.00 3 150,010.00 48,080.00 198,010.00 2004 6 16 2003 133,334,120.04 2003 80% 106,000,000 2004 2004 6 29 2004 7 6 15

7 1997 12 29 1998 1 8 1,800 1,000 2003 5 29 2003 6 5 ( 2003 6 26 ) 2,800 2004 7 30 2004 2 29 2172 2 1 1 2004 6 30 427,718.32 2 2004 6 30 118,815,475.49 3,155,977.48 115,659,498.01 113,288,080.00 220 2003 12 16 2004 2003 3,155,977.48 2,371,418.01 5,527,395.49 16

2003 2003 113,288,080.00 80% 3 2004 6 30 10,652,451.53 1998 2001 4 2004 6 30 1996 33,038,978.34 2 : 2004 6 30 42,411.352 1 29,851.352 24 17

[2001]820 [2002]54 2 12,560 11,560 3 8,760 2004 6 16 2003 133,334,120.04 2003 80% 106,000,000 2003 2003, 3 : 2 3,700 1 2 2004 6 30 42,511.352 [2003]56 18

41,351.119 103.87% 11,660 1 1,800 1997 12 29 2003 5 29 2 5,000 1999 3 8 2003 3 8 3 1,000 1998 1 6 --2003 6 5 4 1,000 1998 12 8 --2004 1 8 5 1,000 1999 9 15 --2004 9 15 6 2,760 2000 6 5 --2003 6 4 2760 242.19 7 4,681.224 2000 11 13 2020 11 13 8 2,554.16 2001 4 4 2021 4 4 9 1,153.736 2001 5 31 2021 5 30 10 8,023.924 2002 5 8 2022 5 7 19

11 5,404.10 2001 2 12 2021 2 12 12 546.728 2001 5 31 2021 5 30 13 4,986.48 2002 5 8 2022 5 7 14 1999 1 7 10 1999 1 7 1999 4 7 15 1999 3 31 40 60 1999 3 31 2000 3 30 16 2001 1 20 60 50 17 1995 6 29 2002 3 200 1995 6 29 1995 9 28 2002 7 15 2002 9 28 200 1,348,289.48 26,820 2002 11 20 340 2003 5 20 20

18 2501 1999 8 19 2009 8 18 2003 4 8 29 2 17 18 1 18 [2003]56 [2003]56 41,351.119 2003 80% (19) : 2004 4 5 300 2004 4 21 [2003] 56 [2003] 56 1 1 1 2 50% 3 2003 6 16 2003 2 2004 6 30 41,351.119 21

11,660 2004 4 5 300 2004 4 21 1 29,851.352 16,413.044 13,438.308 2 2004 6 30 50% 103.87% 3 50 4 1997 12 2000 6 8460 540 2002 3 16 2002 3 27 2000 11 2002 5 29,851.352 850 1,000 200 2002 8 21 2002 9 2 2 1 12,560 2003 12 31 309,326,610.39 436,532,673.48-127,206,063.09 2004 3 18 [2004]93 22

220 2003 80% 2 29,851.352 [1999]2 [1999]1024 [2001]820 [2002]54 29,851.352 3 3 5% 5% http://www.sse.com.cn 1 23

2003 9 6 11,507.7721 2004 1 16 2 2003 2004 1 16 3 2004 2 6 4 4231.288 2004 2 27 5 2004 2004 2004 2 29 6 2003 15% 2004 3 16 7 2004 4 20 8 2003 2004 2004 4 22 9 2004 2003 2003 2003 2003 2003 2004 24

2004 2004 4 28 10 2003 2004 6 17 11 2004 6 17 12 2003 50% 2004 7 9 2004 00 25

26 1994 4 1997 7 1997 8 1999 3 3,362 21.16% 2000 6 28 1999 1999 1999 12 31 15,888 10 1 2000 8 4 299.20 2004 6 30 174,768,000.00 69,718,000.00 39.89% 47,058,000.00 26.93% 57,992,000.00 33.18% 72 1 2 1 1 12 31 3 4

5 6 7 1 1 8 1 2 3 27

1 5% 1 2 10% 2 3 20% 3 4 40% 4 5 70% 5 100% 4 9 1 2 3 4 28

10 1 1 1 20% 20% 20% 20% 20% 10 2003 3 17 2003 3 17 2 1 1 29

3 11 1 2,000.00 2 3 20-50 3.00% 1.94-4.85% 4-12 3.00% 8.08-24.25% 10-35 3.00% 2.77-9.70% 6-12 3.00% 8.08-16.17% 5 10 5500 / 30

4 12 13 1 2 a. b. c. 3 3 = 14 1 2 40 50 31

20 3 15 10 3-14 16 1 2 3 17 1 2 32

3 18 19 2004 6 2003 10,747,275.06 1,612,091.26 2004 1,612,091.26 2003 1,612,091.26 20 1 2 50% 50% 50% 50% 10% 33

34 10% 1 33% [2001]337 2001 2010 15% [2004]9 2003 [2003]33 2002 [2002]334 2001 2004 15% 33% 33% 33% 2

5% 17% 7% 3% 4% 5% 17% 7% 3% 4% 3% 6% 7% 3% 4% 3% 7% 3% 4% 3 5%* 7% 3% 5% 3%** 17% 7% 3% 4% 3% 17% 7% 3% * 5% 3% ** 1 ( ) 1 200 200 100% 2 10,000 10,000 100% 3 2,000 2,000 100% 4 580 348 60% 5 3,500 3,200.05 91.43% 6 3,790 3,274 86.39% 7 * 50 50 100.00% 8 30 ** 30 100.00 9 500 *** 350 70.00% 10 500 496.15 99.23% 35

*** 11 **** 50 47 94.00% * 10% 10% ** *** **** 2 ( ) 1 500,899.70 667,177.42 142,596,588.96 177,074,457.26 2,940,884.22 2,368,760.22 146,038,372.88 180,110,394.90 2 1 41,412,094.84 12,787,078.68 41,872,793.84 12,787,078.68 41,412,094.84 12,787,078.68 41,872,793.84 12,787,078.68 36

17,522,100.00 1,188,900.00 17,828,100.00 1,188,900.00 17,522,100.00 1,188,900.00 17,828,100.00 1,188,900.00 58,934,194.84 13,975,978.68 59,700,893.84 13,975,978.68 2 * 12,787,078.68 12,787,078.68 ** 1,188,900.00 1,188,900.00 13,975,978.68 13,975,978.68 * 18,168,274.40 2004 6 30 5,051,690.99 329,504.73 ** 2,897,100.00 1,708,200.00 3 3 1 3,300,000.00 3,300,000.00 2 5% 4 1 a. 37

% % 1 27,809,314.79 30.61 4,821,547.30 39,678,111.14 44.85 5,000,039.28 1 2 21,768,299.01 23.96 1,219,434.33 11,872,491.47 13.42 1,219,434.33 2 3 7,387,269.78 8.13 2,019,804.34 7,576,515.10 8.57 2,019,804.34 3 4 4,968,673.25 5.47 2,997,558.61 7,367,871.24 8.33 2,997,558.61 4 5 7,366,346.24 8.11 4,539,464.54 5,743,305.48 6.49 4,539,464.54 5 21,553,815.37 23.72 16,219,070.17 16,219,070.17 18.34 16,219,070.17 90,853,718.44 100.00 31,816,879.29 88,457,364.60 100.00 31,995,371.27 b. 29,630,425.54 32.61% c. 5% 2 a. % % 1 15,067,678.23 7.20 31,856,282.31 48,478,813.99 23.69 31,892,847.81 1 2 46,719,401.32 22.32 893,873.34 8,938,733.41 4.37 893,873.34 2 3 6,784,431.62 3.24 3,616,075.79 18,080,378.95 8.83 3,616,075.79 3 4 17,375,885.17 8.30 32,428,094.32 41,070,235.79 20.07 32,428,094.32 4 5 40,845,139.13 19.51 38,755,861.62 50,079,802.32 24.47 38,755,861.62 5 82,528,581.27 39.43 38,010,756.68 38,010,756.68 18.57 38,010,756.68 209,321,116.74 100.00 145,560,944.06 204,658,721.14 100.00 145,597,509.56 78.50% b. 164,314,529.24 c. 115,659,498.01 38

22,488,936.79 10,900,000.00 10,652,451.53 4,613,642.91 d. 21.16% 427,718.32 3 a. 113,288,080.00 80% 3,155,977.48 2,371,418.01 b. 4,437,986.37 c. 612,440.82 5 1 % % 1 5,520,490.16 79.11 2,041,568.74 59.92 1-2 98,068.40 1.40 1,094,632.00 32.13 2-3 1,090,556.00 15.63 172,145.80 5.05 3-4 170,472.00 2.44 20,000.00 0.59 4-5 20,000.00 0.29 78,694.21 2.31 5 78,694.21 1.13 6,978,280.77 100.00 3,407,040.75 100.00 2 1 3 5% 39

6 * 6,761,060.00 6,761,060.00 6,761,060.00 6,761,060.00 * 2004 4 19 [2004]16 2004 2006 200 200 276.106 7 1 5,373,709.93 741,617.34 6,278,129.14 741,617.34 38,800.25 58,281.00 10,015,494.81 3,793,672.55 2,229,646.10 10,249,872.63 63,589.85 7,670,267.04 1,504,886.03 372,360.82 38,275.06 25,677,877.62 805,207.19 20,440,631.71 2,246,503.37 2 741,617.34 741,617.34 * ** 1,504,886.03 1,441,296.18 63,589.85 * 2,246,503.37 1,441,296.18 805,207.19 * 40

** 350,641.25 244,800.00 845,854.93 8 11,053.35 12,619.27 23,293.78 146,962.08 212,617.00 112,797.12 295,783.02 172,265.76 738,861.33 248,530.05 9 209,400.00 209,400.00 10 1 541,671.52 541,671.52 3,991,062.54 4,608,810.51 35,393,786.96 35,393,786.96 8,214,059.46 8,893,011.52 48,140,580.48 49,437,280.51 1,296,700.03 2.62% 41

2 30 36% 7,200,000.00 35% 3,500,000.00 100% 500,000.00 14.89% 21,000,000.00 16.67% 2,000,000.00 15% 1,500,000.00 * 89.31% 15,728,300.00 * 3 4 7,200,000.00-4,743,200.93 3,500,000.00-617,747.97-1,965,736.53 500,000.00 41,671.52 11,200,000.00-617,747.97-6,667,265.94 5 13,079,278.99 10 653,963.96 7,847,567.34 499,761.99 10 24,988.10 366,492.12 13,579,040.98 678,952.06 8,214,059.46 11 1 333,796,274.89 23,045,557.49 27,294.00 356,814,538.38 42

32,061,417.15 5,668,867.39 9,000.00 37,721,284.54 524,408,663.83 14,531,966.81 5,554,610.00 533,386,020.64 25,363,216.59 1,995,766.48 59,730.00 27,299,253.07 770,834.08 33,040.00 803,874.08 916,400,406.54 45,275,198.17 5,650,634.00 956,024,970.71 a 18,350,206.48 b 21,870,000.00 6 1# 2# 5,554,610.00 2 73,818,121.44 5,662,209.97 12,338.58 79,467,992.83 15,764,591.88 2,648,342.15 2,134.00 18,410,800.03 123,877,643.35 10,691,542.09 2,176,133.27 132,393,052.17 7,254,881.75 1,394,788.47 56,972.65 8,592,697.57 41,974.01 79,869.51 121,843.52 220,757,212.43 20,476,752.19 2,247,578.50 238,986,386.12 1# 2# 2,174,015.27 3 16,642,810.72 14,955.42 16,627,855.30 3,483,441.38 691.67 3,482,749.71 34,788,349.45 3,257,442.21 31,530,907.24 1,683,241.31 1,683,241.31 56,597,842.86 3,273,089.30 53,324,753.56 1# 2# 43

3,257,442.21 4 12,878.94 9,647.51 8,492.24 4,120.13 3,093.35 3,087.79 10,000 3,414.71 2,446.45 2,322.24 10,781.72 7,614.34 7,611.17 1,378.51 826.96 826.96 6,000 500 3 6,209.03 5,444.17 5,318.21 3,732.00 12 4,000.00 89,732.63 50,407.27 1,625,116.79 878,807.40 1,714,849.42 933,214.67 13 1 2,762,314.75 2,762,314.75 8,208,576.65 8,208,576.65 13,983,311.28 80,000.00 14,063,311.28 15,158,819.36 528,563.00 15,687,382.36 18,141,892.12 212,314.36 18,350,206.48 4,000.00 2,085,392.08 1,539,907.93 1,292,333.89 2,332,966.12 14,960,413.01 1,536,975.88 16,497,388.89 44

1,741,124.69 1,212,596.66 2,953,721.35 1,073,446.92 1,073,446.92 1,550,667.80 4,572,095.37 6,122,763.17 110KV 4,255,561.10 4,255,561.10 1# 2# 3,485,175.67 3,485,175.67 4,359,928.95 5,292,450.95 890,932.00 8,761,447.90 84,025,887.61 22,715,640.92 20,533,472.37 86,208,056.16 2 589,130.43 589,130.43 589,130.43 589,130.43 3 2,762,314.75 2,762,314.75 2,736,192.00 2,736,192.00 1,073,446.92 1,073,446.92 146,946.45 146,946.45 1# 2# 3,257,442.21 3,257,442.21 1,071,927.55 1,071,927.55 7,790,827.67 3,257,442.21 11,048,269.88 (1) (2) 41 220KV 99 6 30 (3) 45

(4)1# 2# 14 2,432,077.78 2,432,077.78-4,286.15 2,427,791.63 2,432,077.78 15 1 11,000,933.80 1,217,601.60 8,390,543.23 1,217,601.60 34,574,000.11 16,000,000.00 35,237,357.23 16,000,000.00 4,533.19 6,133.21 169,553.41 104,286.85 23,290.65 24,878.79 45,772,311.16 17,217,601.60 43,763,199.31 17,217,601.60 2 9,930,665.97 8,390,543.23 2,719,738.00 109,347.43 1,649,470.17 35.90 11,000,933.80 44,820,000.00 35,237,357.23 663,357.12 10,245,999.89 14.50 34,574,000.11 16,000.00 6,133.21 1,600.02 11,466.81 1.42 4,533.19 148,423.93 104,286.85 95,000.00 29,733.44 73,870.52 2.18 169,553.41 32,000.00 24,878.79 1,588.14 8,709.35 7.33 23,290.65 54,947,089.90 43,763,199.31 2,814,738.00 805,626.15 11,989,516.74 45,772,311.16 3 46

16,000,000.00 16,000,000.00 1,217,601.60 1,217,601.60 17,217,601.60 17,217,601.60 16 1,806,840.00 1,355,129.87 90,342.00 542,052.13 1,264,787.87 6.15 2,725,265.58 600,544.14 100,885.13 82,691.88 2,207,413.32 618,737.39 1-10 154,000.00 133,145.92 9,624.96 30,479.04 123,520.96 6.42 321,085.69 190,980.65 34,704.42 164,809.46 156,276.23 2.62 154,300.00 4,977.42 4,977.42 149,322.58 2.00 5,183,399.97 2,279,800.58 255,185.13 222,340.68 3,125,940.07 2,312,645.03 17 58,900,000.00 77,800,000.00 ** 83,000,000.00 68,000,000.00 ** 91,000,000.00 55,000,000.00 *** 20,000,000.00 232,900,000.00 220,800,000.00 * 11 4 ** 1 3700 a. 1800 2003 12 17 2004 12 17 47

b. 1900 2003 12 17 2004 12 17 2 2 5400 *** 2000 2000 2003 12 31 2004 6 30 2004 1 2 18 1 a. b. 5% ( 5%) 2 a. b. 5% ( 5%) 3 a. 24,323,301.41 * 12,000,000.00 8,581,521.76 * b. : 3,743,183.74 48

900,000.00 885,499.19 c. 5% 5% 19 3,073,805.17 7,792,476.81 20 0.18 0.18 0.18 0.18 21 1,521,183.46 529,278.53 17% 169,355.91 376,175.78 3%-5% 202,936.90 157,909.58 7% 163,460.34 66,083.81 1.2% * -1,168,803.20-3,168,712.44 15%-33% 94,483.06 9,769.74 39,545.15 94,083.82 1,022,161.62-1,935,411.18 * 2003-1,556,621.18 1,612,091.26 2003 19 49

22 125,230.45 353,691.90 4%-5% 82,501.31 64,349.82 3% 27,031.12 22,492.81 3% 177,904.64 167,198.48 412,667.52 607,733.01 23 107,350,000.00 107,350,000.00 107,350,000.00 107,350,000.00 1 125,600,000.00 7,734,120.04 133,334,120.04 80 106,000,000.00 2 2002 3 200 3,348,289.48 1,350,000.00 24 1 15,120,000.00 15,120,000.00 15,120,000.00 15,120,000.00 2 11,500,000.00 11,500,000.00 * 3,620,000.00 3,620,000.00 15,120,000.00 15,120,000.00 50

11 4 25 5,315,796.70 5,315,796.70 115,700,000.00 132,700,000.00 121,015,796.70 138,015,796.70 11 4 26 106,360,824.48 102,860,824.48 106,360,824.48 102,860,824.48 27 3,000,000.00 3,000,000.00 2,421,084.02 2,421,084.02 836,000.00 836,000.00 6,257,084.02 6,257,084.02 28 171,478,000.00 71,478,000.00 69,718,000.00 69,718,000.00 1,760,000.00 1,760,000.00 51

245,298,000.00 45,298,000.00 45,298,000.00 45,298,000.00 3 4 1 57,992,000.00 57,992,000.00 2 3 4 174,768,000.00 174,768,000.00 29 * 258,600,000.00 64,003,487.84 194,596,512.16 3,875,098.86 ** 473,972.72 4,349,071.58 * 2,466,289.48 2,466,289.48 104,114,300.10 103,507,207.84 607,092.26 369,055,688.44 473,972.72 167,510,695.68 202,018,965.48 * 2003 9 ** 30 * 21,118,380.54 19,360,450.63 1,757,929.91 11,142,774.36 11,142,774.36 32,261,154.90 19,360,450.63 12,900,704.27 52

* 2003 9 31 1 * -188,479,534.01 36,291,486.63 10,166,639.64-224,424,328.63 186,871,146.31 10% 288,098.79 5% 58,593.22 8,558,251.94-188,479,534.01 * 2003-190,091,625.27 1,612,091.26 2003 19 1,612,091.26 1,612,091.26 32 1 2004 1-6 2003 1-6 135,588,570.58 85,947,417.66 128,824,745.93 91,098,006.43 5,640,668.75 3,645,450.77 10,073,082.52 8,702,170.14 15,212,223.40 5,570,344.39 15,290,786.85 6,279,879.31 53

6,783,297.99 5,895,017.06 3,095,962.13 2,609,266.48 2,710,992.72 1,872,713.61 4,159,756.04 3,181,514.50 165,935,753.44 102,930,943.49 161,444,333.47 111,870,836.86 2 26,802,591.12 16.15% 33 2004 1-6 2003 1-6 7% 1,103,926.47 899,195.58 4%-5% 653,774.58 549,142.81 3% 483,232.97 404,063.16 3%-5% 1,030,311.22 1,022,128.59 3% 166,334.10 178,898.49 3,437,579.34 3,053,428.63 34 2004 1-6 2003 1-6 113,550.37 2,566.09 110,984.28 1,056,644.92 1,152,202.85-95,557.93 109,517.23 352,733.94 19,596.28 333,137.66 9,622.15 856,107.40 46,460.00 809,647.40 530,655.90 2,379,036.63 1,220,825.22 1,158,211.41 649,795.28 35 2004 1-6 2003 1-6 9,536,782.32 8,960,032.44 : 600,794.59 666,683.07 : 95,211.86 60,156.59 9,031,199.59 8,353,505.96 36 54

1 2004 1-6 2003 1-6 -617,747.97-609,828.54-678,952.06-678,952.06-1,296,700.03-1,288,780.60 2 37 2004 1-6 2003 1-6 3,600.00 880,000.00 199,406.93 266,897.00 71,339.50 232,447.18 274,346.43 1,379,344.18 38 2004 1-6 2003 1-6 4,160.00 37,362.90 1,600.00 105,357.58 277,156.61 171,853.83 424,037.09 173,453.83 39 1 2,300,000.00 1,500,000.00 2 55

3,796,451.80 3 3,000,000.00 1 1 a. % % 1 15,446,220.56 34.47 3,772,128.98 23,195,390.19 56.03 3,950,620.96 1 2 11,523,706.22 25.71 291,450.90 596,757.51 1.44 291,450.90 2 3 590,557.51 1.32 164,474.34 547,373.37 1.33 164,474.34 3 4 547,373.37 1.22 333,576.12 588,794.54 1.42 333,576.12 4 5 588,794.54 1.31 4,199,249.55 4,533,510.84 10.95 4,199,249.55 5 16,119,053.52 35.97 13,132,597.46 11,936,119.44 28.83 13,132,597.46 44,815,705.72 100.00 21,893,477.35 41,397,945.89 100.00 22,071,969.33 b. 26,731,775.00 59.65% c. 5% 5% 2 a. % % 1 91,316,023.25 35.34 31,461,105.34 99,537,359.49 44.05 31,497,670.84 1 2 43,166,587.13 16.71 174,479.65 1,745,050.78 0.77 174,479.65 56

2 3 1,540,655.18 0.60 3,085,902.84 14,610,193.19 6.47 3,085,902.84 3 4 14,541,867.45 5.63 32,399,409.14 40,406,546.52 17.88 32,399,409.14 4 5 40,363,184.52 15.62 37,116,776.09 44,349,513.92 19.63 37,116,776.09 5 67,470,805.74 26.10 36,447,666.46 25,318,513.42 11.20 36,447,666.46 258,399,123.27 100.00 140,685,339.52 225,967,177.32 100.00 140,721,905.02 b 234,937,823.03 90.92% c. : 115,659,498.01 61,693,522.31 24,443,414.39 22,488,936.79 10,652,451.53 d. 5% 5% 3 a. 113,288,080.00 80% 3,155,977.48 2,371,418.01 b. 4,437,986.37 c. 612,440.82 d. 2 1 57

232,026,608.80 209,308,955.64 2,456,799.07 2,456,799.07 33,893,786.96 33,893,786.96 268,377,194.83 245,659,541.67 2 100% 2,000,000.00 100% 100,000,000.00 100% 20,000,000.00 100% 300,000.00 91.43% 34,165,400.00 89.31% 15,728,300.00 86.39% 32,740,000.00 60% 28,502,171.83 30 36% 7,200,000.00 14.89% 21,000,000.00 16.67% 2,000,000.00 3 4 2,000,000.00 894,894.96 100,000.00 1,192,300.98 18,000,000.00 82,000,000.00 24,898,643.21 300,000.00 24,731,952.34 15,000,000.00 5,000,000.00-264,067.77 520,000.00-1,150,543.43 300,000.00 23,802.91 34,165,400.00-2,865,681.61 14,735,498.21 58

32,740,000.00-1,045,619.08-12,951,922.86 28,502,171.83 1,778,435.51 2,439,035.93-6,897,069.66 7,200,000.00-4,743,200.93 137,907,571.83 87,000,000.00 23,396,605.22 3,359,035.93 14,940,817.56 5 13,079,278.99 10 653,963.96 7,847,567.34 499,761.99 10 24,988.10 366,492.12 13,579,040.98 678,952.06 8,214,059.46 3 2004 1-6 2003 1-6 108,336,293.46 89,934,825.60 108,472,021.86 80,693,759.16 225,852.99 341,070.30 571,828.08 570,320.62 108,562,146.45 90,275,895.90 109,043,849.94 81,264,079.78 4 1 2004 1-6 2003 1-6 23,396,605.22 2,542,211.29-678,952.06-678,952.06 22,717,653.16 1,863,259.23 2 59

60 1 1 ( ) 123 1 20 34,598.00 72 200.00 237 30.00 54 10,000.00 97 2,000.00 72 50.00 B 4 580.00 113 2 7 1 500.00 B 4 500.00 3,500.00 3,790.00 50.00 2

34,598.00 34,598.00 200.00 200.00 30.00 30.00 10,000.00 10,000.00 2,000.00 2,000.00 50.00 50.00 580.00 580.00 500.00 500.00 500.00 500.00 3,500.00 3,500.00 3,790.00 3,790.00 50.00 50.00 3 ( ) ( ) 3,698.20 21.16% 3,698.20 21.16% 200.00 100% 200.00 100% * 30.00 100% 30.00 100% 10,000.00 100% 10,000.00 100% 2,000.00 100% 2,000.00 100% 50.00 100% 50.00 100% 348.00 60% 348.00 60% 35.00 70% ** 35.00 70% ** 496.15 99.23% 496.15 99.23% 61

3,200.00 91.43% 3,200.00 91.43% 3,274.00 86.39% 3,274.00 86.39% *** 47.00 94.00% 47.00 94.00% * ** *** 4 29,851.352 1 1 5 (%) 427,718.32 464,826.79 0.20 0.22 156,980.00 0.45 200,000.00 549,504.00 0.29 0.49 2 1 62

2 a. 2004 1-6 2003 1-6 9,039,420.17 9,134,757.20 9,039,420.17 9,134,757.20 [2000]124 0.42 / 0.32 / 0.22 / b. ( ) 2004 1-6 2003 1-6 27,487.18 27,487.18 3 (%) 10,550,041.55 10,419,041.55 11.61 11.78 22,488,936.79 20,465,058.39 10.74 10.00 1 1 29,851.352 63

64 2003 8 19 a. 4,681.224 2000 11 12,, 2000 11 13-2020 11 13 b. 2,554.16 2001 4 1 2001 4 4-2021 4 4 c. 1,153.736 2001 5 30 2001 5 31-2021 5 30 d. 8,023.924 2002 5 8 2002 5 8-2022 5 7 e. 5,404.10 2001 2 9 2001 2 12-2021 2 12 f. 546.728 2001 5 30

65 2001 5 31-2021 5 30 g. 4,986.48 2002 5 8 2002 5 8-2022 5 7 h. 2,501.00 1999 8 19-2009 8 18 2 12,560.00 11,560.00 a. 1800 1997 12 29-2003 5 29 b. 1000 1998 1 6 2003 6 5 c. 1000 1998 12 8 2004 1 8 d. 1000 1999 9 15 2004 9 14 e. 5000 1999 3 8 2003 3 8 f. 2760 2000 6 5 2003 6 4 3 2002 3 200 1995 6 29 1995 9 28 2002 7 15 2002 9 28

66 200 1,348,289.48 1,348,289.48 26,820.00 200 2004 6 30 4 2001 1 20 60 50 5 1999 1 7 10 1999 1 7 1999 4 7 2 2004 6 25 9600 1 2004 3 30 3000 2004 3 30 2005 3 30 2 2004 6 28 2400 2004 6 28 2005 6 28 3 1 2003 12 18 ( ) ( ) 2000 6 5 2,760 2003 6 4 2004 6 10 2,760 1,552,756 198,010 2004 7 1 2 2004 3 23

67 ( ) ( ) 1998 12 8 1000 2004 1 8 2004 5 26 1,000 969,985.11 84,014 2004 6 10 3 2004 4 12 1999 3 10 5000 2003 9 28 2004 5 21 5,000 2004 3 31 3,946,030.932004 3 31 391,636 2004 6 6 4 2004 5 12 2001 6 20 2003 3 28 5,642,836 2004 3 25 3,140,331.30 2,502,504.35 2004 6 30 2004 6 30

68 1 2004 7 2502.09 31.50 6 30 505.17 1278.71 41.51 2 2004 7 19 ( ) ( ) 1997 12 29 1998 1 6 1800 1000 2004 7 28 1 2003 44.521 2003 12 2 2003 9 6 3,698.2 21.16% 11,507.7721 3,698.2 21.16% 3 2004 3 17,655.11 2,540.42

69 7000 4 2003 12 11 ( ) ( ) ( ) 2004 5 25 375 2002 12 20 37,388 5 1,708,200.00 2004 6 2004 2 29 2172 15 4,931.50 7 2003 41 35KV 508 35KV 2004 1 8 2004 2004 2004 4500 1200 110KV 1600 300 35KV 110KV 10KV 1400 110KV 4 15 7 21 1150 6 28 1558 35KV 110KV 10KV 9 3# 10 2004 1 12

70 2004 1 8 9454.90 11 [2004]2 2004 1 1 0.008 100 12 [2004]61 2004 6 21 0.033 0.0094 360 2004 70 13 [2004]72 2004 8 1 0.031 0.0094 350 2004 150 14 2003 10 11 750 311.77 2004 4 6 15 [2004]43 2004 6 15 2003 470 430

) 71

-- 1 2 72

-- 2004 1-6 2004 2003 2004 2003 2004 2003 2004 2003 1-6 1-6 1-6 1-6 1-6 1-6 1-6 1-6 14.96% 8.99% 15.16% 9.03% 0.341 0.266 0.341 0.266 3.66% 1.31% 3.71% 1.32% 0.083 0.039 0.083 0.039 2.55% 0.85% 2.59% 0.86% 0.058 0.025 0.058 0.025 2.59% 0.65% 2.62% 0.65% 0.059 0.019 0.059 0.019 57,300.00 256,558.66-414,627.91-100,769.25-31,335.34-132,104.59 1 2 73

1 ROE ROE P/ E0 NP 2 Ei Mi M0 Ej Mj M0 P NP E0 Ei Ej M0 Mi Mj 2 EPS EPS P/ S0 S1 Si Mi M0 Sj Mj M0 P S0 S1 Si Sj M0 Mi Mj 74

.1 2004 6 177,592,880.83 215,057.48 215,057.48 177,377,823.35 31,995,371.27 178.491.98 178.491.98 31,816,879.29 145,597,509.56 36.565.50 36.565.50 145,560,944.06 13,975,978.68 13,975,978.68 12,787,078.68 12,787,078.68 1,188,900.00 1,188,900.00 2,246,503.37 1,441,296.18 1,441,296.18 805,207.19 1,504,886.03 1,441,296.18 1,441,296.18 63,589.85 741,617.34 741,617.34 56,597,842.86 3,273,089.30 3,273,089.30 53,324,753.56 16,642,810.72 14,955.42 14,955.42 16,627,855.30 34,788,349.45 3,257,442.21 3,257,442.21 31,530,907.24 3,483,441.38 691.67 691.67 3,482,749.71 1,683,241.31 1,683,241.31 17,217,601.60 17,217,601.60 16,000,000.00 16,000,000.00 1,217,601.60 1,217,601.60 7,790,827.67 3,257,442.21 11,048,269.88 275,421,635.01 3,257,442.21 4,929,442.96 4,929,442.96 273,749,634.26 75

.2 2004 6 162,793,874.35 215,057.48 215,057.48 162,578,816.87 22,071,969.33 178.491.98 178.491.98 21,893,477.35 140,721,905.02 36.565.50 36.565.50 140,685,339.52 3,975,978.68 3,975,978.68 2,787,078.68 2,787,078.68 1,188,900.00 1,188,900.00 741,617.34 741,617.34 741,617.34 741,617.34 52,597,842.86 6,856,857.56 6,856,857.56 45,740,985.30 12,642,810.72 14,955.42 14,955.42 12,627,855.30 34,788,349.45 6,068,624.02 6,068,624.02 28,719,725.43 3,483,441.38 665,926.87 665,926.87 2,817,514.51 1,683,241.31 107,351.25 107,351.25 1,575,890.06 1,217,601.60 1,217,601.60 1,217,601.60 1,217,601.60 7,790,827.67 3,257,442.21 11,048,269.88 229,117,742.50 3,257,442.21 7,071,915.04 7,071,915.04 225,303,269.67 76

30% 30% 5% 5% 10% 10% 2004 6 30 2003 12 31 2004 1-6 2003 1-6 % 202,018,965.48 369,055,688.44-167,036,722.96-45.26 1 8,558,251.94-188,479,534.01 197,037,785.95 104.54 2 1 2003 9 167,510,695.68 2003 2 2003 9 19,360,450.63 167,510,695.68 2003 77

2004 6 30 1 146,038,372.88 180,110,394.90 57,483,796.88 90,827,157.50 2 44,958,216.16 45,724,915.16 16,811,782.21 17,578,481.21 3 3,300,000.00 3,300,000.00 4 5 6 59,036,839.15 56,461,993.33 22,922,228.37 19,325,976.56 7 63,760,172.68 59,061,211.58 117,713,783.75 85,245,272.30 8 6,978,280.77 3,407,040.75 4,219,168.41 1,988,641.70 9 6,761,060.00 6,761,060.00 6,761,060.00 6,761,060.00 10 24,872,670.43 18,194,128.34 1,530,177.07 3,268,045.05 11 738,861.33 248,530.05 119,092.86 21 209,400.00 209,400.00 24 30 356,444,473.40 370,178,674.11 230,861,089.55 225,204,034.32 31 48,140,580.48 49,437,280.51 268,377,194.83 245,659,541.67 32 33 48,140,580.48 49,437,280.51 268,377,194.83 245,659,541.67 34 35 ( - 8,214,059.46 8,893,011.52 ) ( 8,214,059.46 8,893,011.52 - ) 39 956,024,970.71 916,400,406.54 645,084,814.20 717,272,186.99 40 238,986,386.12 220,757,212.43 167,489,600.24 172,042,962.09 41 717,038,584.59 695,643,194.11 477,595,213.96 545,229,224.90 42 53,324,753.56 56,597,842.86 45,740,985.30 52,597,842.86 43 663,713,831.03 639,045,351.25 431,854,228.66 492,631,382.04 44 1,714,849.42 933,214.67 1,714,849.42 933,214.67 45 75,159,786.28 76,235,059.94 41,054,773.63 43,976,853.20 46 2,427,791.63 2,432,077.78-1,743.50 50 743,016,258.36 718,645,703.64 474,622,108.21 537,541,449.91 51 28,554,709.56 26,545,597.71 7,269,688.83 4,565,407.32 52 2,312,645.03 2,279,800.58 1,693,907.64 1,679,256.44 53 54 30,867,354.59 28,825,398.29 8,963,596.47 6,244,663.76 78

55 60 1,178,468,666.83 1,167,087,056.55 982,823,989.06 1,014,649,689.66 61 232,900,000.00 220,800,000.00 221,000,000.00 211,000,000.00 62 63 28,538,102.90 34,580,036.44 19,052,763.05 18,606,934.86 64 13,559,599.42 10,665,524.39 128,643.00 109,143.00 65 3,073,805.17 7,792,476.81 31,374.60 3,055,897.47 66 5,411,748.22 4,462,203.94 3,123,607.61 2,529,264.58 67 0.18 0.18 0.18 0.18 68 1,022,161.62-1,935,411.18 1,986,847.51-528,874.35 69 412,667.52 607,733.01 99,766.36 324,685.78 70 115,661,648.63 111,160,064.08 69,286,753.56 107,379,017.31 71 1,267,871.77 72 107,350,000.00 107,350,000.00 107,350,000.00 107,350,000.00 78 15,120,000.00 15,120,000.00 79 80 524,317,605.43 510,602,627.67 422,059,755.87 449,826,068.83 81 121,015,796.70 138,015,796.70 82,000,000.00 99,000,000.00 82 83 84 106,360,824.48 102,860,824.48 75,571,024.48 73,271,024.48 85 6,257,084.02 6,257,084.02 4,947,287.02 4,947,287.02 87 233,633,705.20 47,133,705.20 162,518,311.50 177,218,311.50 88 89 90 757,951,310.63 757,736,332.87 584,578,067.37 627,044,380.33 91 ( ) 22,417,190.89 21,745,414.35 92 174,768,000.00 174,768,000.00 174,768,000.00 174,768,000.00 93 202,018,965.48 369,055,688.44 202,018,965.48 369,055,688.44 94 12,900,704.27 32,261,154.90 9,680,225.31 29,040,675.94 95 11,142,774.36 11,142,774.36 9,680,225.31 9,680,225.31 96 ( -145,756.38 ) 97 8,558,251.94-188,479,534.01 11,778,730.90-185,259,055.05 98 ) ( 99 398,100,165.31 387,605,309.33 398,245,921.69 387,605,309.33 100 1,178,468,666.83 1,167,087,056.55 982,823,989.06 1,014,649,689.66 79

2004 1-6 1 165,935,753.44 161,444,333.47 108,562,146.45 109,043,849.94 2 102,930,943.49 111,870,836.86 90,275,895.90 81,264,079.78 3 3,437,579.34 3,053,428.63 1,604,015.26 1,479,060.04 4 5 ( 59,567,230.61 46,520,067.98 16,682,235.29 26,300,710.12 - ) ( 1,158,211.41 649,795.28 36,277.84 25,230.07 - ) 6 2,533,856.47 2,737,873.45 34,976.50 25,204.40 7 34,572,689.40 29,298,918.06 19,548,152.81 18,016,437.72 8 9,031,199.59 8,353,505.96 7,511,562.98 6,254,183.72 10 ( - 14,587,696.56 6,779,565.79-10,376,179.16 2,030,114.35 ) 11 ( -1,296,700.03-1,288,780.60 22,717,653.16 1,863,259.23 - ) 12 95,500.00 69,100.00 13 274,346.43 1,379,344.18 107,075.60 1,087,677.42 14 424,037.09 173,453.83 127,203.00 37,473.95 15 ( 13,236,805.87 6,765,775.54 12,321,346.60 4,943,577.05 - ) 16 2,515,762.48 1,630,775.27 2,154,706.96 527,531.10 17 18 ( 700,160.13 718,954.32 ) ( 145,756.38 ) 20 ( - 10,166,639.64 4,416,045.95 10,166,639.64 4,416,045.95 ) 21-188,479,534.01 36,291,486.63-185,259,055.05 39,165,273.58 22 186,871,146.31 186,871,146.31 25 8,558,251.94 40,707,532.58 11,778,730.90 43,581,319.53 26 27 28 ( ) 35 8,558,251.94 40,707,532.58 11,778,730.90 43,581,319.53 80

36 37 38 39 40 ( 8,558,251.94 40,707,532.58 11,778,730.90 43,581,319.53 - ) 41 1. 42 2. 43 44 3. ( ) 4. ( ) 45 5. 46 6. 81

2004 1-6 1 192,809,785.01 123,457,206.15 2 3 16,108,408.48 161,361,218.84 5 208,918,193.49 284,818,424.99 6 80,534,782.16 81,043,401.12 7 37,161,612.83 21,785,711.92 8 19,997,439.23 14,550,967.03 9 42,240,302.14 230,147,483.80 10 179,934,136.36 347,527,563.87 11 28,984,057.13-62,709,138.88 12 976,099.00 976,099.00 13 14 15 7,043.50 88,951,743.50 16 17 983,142.50 89,927,842.50 18 46,721,181.94 43,013,620.61 19 20 3,000,000.00 3,000,000.00 22 49,721,181.94 46,013,620.61 25-48,738,039.44 43,914,221.89 26 27 28 126,000,000.00 119,000,000.00 29 18,532.09 30 126,018,532.09 119,000,000.00 31 130,900,000.00 126,000,000.00 32 9,436,571.80 7,548,443.63 33 34 35 36 140,336,571.80 133,548,443.63 40-14,318,039.71-14,548,443.63 41 82

42-34,072,022.02-33,343,360.62 1 43 ( - ) 10,166,639.64 10,166,639.64 44 ( - ) 700,160.13 45 46 47 20,476,752.19 13,792,364.61 48 805,626.15 110,456.49 49 222,340.68 139,648.80 50 ( : ) -490,331.28-119,092.86 51 ( : ) 1,267,871.77 52 ( : ) -3,600.00-3,600.00 53 54 9,501,650.43 7,548,443.63 55 ( : ) 1,296,700.03-22,717,653.16 56 ( : ) 57 ( : ) -6,678,542.09 1,737,867.98 58 ( : ) -12,847,954.98-8,346,297.89 59 ( : ) 4,566,744.46-65,017,916.12 60 ( ) 65 28,984,057.13-62,709,138.88 2 66 67 68 3 69 146,038,372.88 57,483,796.88 70 180,110,394.90 90,827,157.50 71 72 73-34,072,022.02-33,343,360.62 83