ZTE CORPORATION - PDF Free Download

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ZTE CORPORATION

2009 6 30 1

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ITU A, H () 3

3G 3Gthird generation CDMA Kbp/s ITU IMT-2000International Mobile Telecom-munication WCDMACDMA2000 TDSCDMA ADSL 24 Mbps 3.5 Mbps CDMA CDMA 2G CDMA2000 CDMA2000 3GPP2 Release 0 Release AEV-DO EV-DO 1.25MHz 3.1Mbit/s DSL xdsl ADSLADSL2HDSLVDSL VDSL2 GSM GSM(Global System For Mobile Communication) 1992 GSM TDMA 2G 70% IP Internet ProtocolIP IP IPv4 IPv6 Softswitch 5

TD-SCDMA 3G TDD 1.6mhz WCDMA CDMA3GPP 3G 5MHz 2Mbps 384kbps FTTX Fiber To The X X FTTX FTTN FTTCFTTB)FTTH LTE LTELong Term Evolution 3G OFDM 4GLTE 3GPP 20MHz 100Mbps 50Mbps Wimax WiMaxWorld Interoperability for Microwave Access IEEE 802.16 OFDM ITU 3G UMTS WCDMA 90 (ETSI) 3G UMTS(Universal Mobile Telecommunications System) IPTN IP IP IPTN IP IP QoS 6

() 1 ZTE Corporation ZTE 2 3/ A 6 +86 755 26770282 +86 755 26770286 fengjianxiong@zte.com.cn 4 518057 15 8 http://www.zte.com.cn fengjianxiong@zte.com.cn 5 http://www.cninfo.com.cn 6 A : :000063 1 115003 031006 ZXC1 H : :763 7

() 1 (2009 6 30 ) (2008 12 31 ) 62,074,205 50,865,921 22.03% 1 14,761,300 14,249,544 3.59% 1,746,329 1,343,330 30.00% / 8.45 2 8.16 2 3.59% 4 (2009 1-6 (2008 1-6 ) 27,707,646 19,728,984 40.44% 633,655 462,922 36.88% 1,211,196 868,642 39.44% 1 783,367 557,386 40.54% 1 754,760 545,707 38.31% / 0.45 2 0.32 2 40.54% 4 3 / 0.44 2 0.31 2 40.54% 4 (%) 5.31% 4.27% 1.04% -1,175,203-3,151,205 62.71% / -0.67 2-1.80 2 62.71% 4 1 2 2009 6 4 1,343,330,310 1,746,329,402 3/ 1,746,329,402 85,006,813 55% 4 30,632 45,635 6,598 36,014 5,048 28,607 8

2 () 2008 12 31 (%) 1 2009 6 30 (%) 1,693,914 0.13 - - 486,271 (73,010) 413,261 2,107,175 0.12 1 2 3 - - - - - - - - - - - - - - - - - - 1,693,914 0.13 - - 486,271 (73,010) 413,261 2,107,175 0.12 - - - - - - - - ( ) 1,693,914 0.13 - - 486,271 (73,010) 413,261 2,107,175 0.12 4 - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,341,636,396 99.87 - - 402,512,821 73,010 402,585,831 1,744,222,227 99.88 1 1,117,424,940 83.18 - - 335,249,385 73,010 335,322,395 1,452,747,335 83.19 2 - - - - - - - - - 9

3 (H ) 224,211,456 16.69 - - 67,263,436-67,263,436 291,474,892 16.69 4 - - - - - - - - - 1,343,330,310 100 - - 402,999,092-402,999,092 1,746,329,402 100 1 2 2009 6 4 2008 12 31 1,343,330,310 10 3 2009 6 5 2008 12 31 1 380,600 0 114,179 494,779 2 202,832 0 60,848 263,680 3 115,548 0 34,664 150,212 4 110,557 0 33,167 143,724 1 5 127,764 0 38,329 166,093 6 10,521 0 3,156 13,677 7 124,173 0 37,252 161,425 8 62,081 0 18,624 80,705 9 19,136 4,784 4,306 18,658 1 2 10 15,000 0 4,500 19,500 11 106,725 0 32,017 138,742 12 11,250 0 3,375 14,625 13 11,475 0 3,443 14,918 14 22,500 0 6,750 29,250 15 11,250 0 3,375 14,625 1 16 42,994 0 12,898 55,892 17 97,782 0 29,335 127,117 18 15,000 0 4,500 19,500 19 7,500 0 2,250 9,750 20 199,226 86,459 57,536 170,303-1,693,914 91,243 504,504 2,107,175 1 25% 2 2008 2008 12 31 2009 25% 1 52,725 A 52,392 H 333 10 10 1 35.52% 620,214,413 0

2 16.66% 290,895,835 0 3-- -005L-FH002 2.34% 40,851,542 0 4-1.64% 28,562,554 0 5 1.19% 20,805,894 0 6-0.92% 15,999,960 0 7-0.79% 13,864,760 0 8-0.68% 11,807,627 0 9 0.58% 10,046,728 0 10 0.57% 10,028,528 0 10 1 620,214,413 A 2 290,895,835 H 3-- -005L-FH002 40,851,542 A 4-28,562,554 A 5 20,805,894 A 6-15,999,960 A 7-13,864,760 A 8-11,807,627 A 9 10,046,728 A 10 10,028,528 A 1 2 1 2 5% / (+/-) () 143,126,403 620,214,413 A 0 620,214,413 2008 2008 12 31 1,343,330,310 10 3 2 11

() A A () () 1 507,466 152,240 0 659,706 1 0 2 0 0 0 0 18,200 3 0 0 0 0 18,200 4 0 0 0 0 18,200 5 0 0 0 0 18,200 6 0 0 0 0 18,200 7 270,442 81,132 0 351,574 1 0 8 154,064 46,219 0 200,283 1 0 9 147,410 44,223 0 191,633 1 0 10 0 0 0 0 0 11 0 0 0 0 0 12 0 0 0 0 0 13 0 0 0 0 0 14 0 0 0 0 0 15 170,352 51,106 0 221,458 1 0 16 0 0 0 0 0 17 0 0 0 0 0 18 14,028 4,208 0 18,236 1 0 19 0 0 0 0 0 20 165,564 49,669 0 215,233 1 0 21 82,775 24,832 0 107,607 1 182,000 22 19,136 5,741 0 24,877 1 182,000 23 0 0 0 0 182,000 24 20,000 6,000 6,500 19,500 1 2 273,000 25 142,300 42,690 0 184,990 1 182,000 12

26 15,000 4,500 0 19,500 1 327,600 27 15,300 4,591 0 19,891 1 273,000 28 30,000 9,000 0 39,000 1 273,000 29 15,000 4,500 0 19,500 1 327,600 30 57,326 17,198 0 74,524 1 182,000 31 130,376 39,113 0 169,489 1 182,000 32 20,000 6,000 0 26,000 1 273,000 33 0 0 0 0 253,708 34 0 0 0 0 0 35 10,000 3,000 0 13,000 1 182,000 ---- ---- 1,986,539 595,962 6,500 2,576,001 3,365,908 1 2009 6 4 2008 10 3 10 3 2 3 H 4 2009 7 22 19 673,182 2009 7 23 () 1 2009 7 21 2009 7 21 2009 6 30 2009 2009 7 22 2010 3 29 2 3 2009 3 19 13

2009 6 30 6 2009 6 30 6 39 () 2009 12009 20093G 2009 4,170.72.3% 1,291.413.6% 12.7%2.7% 22009 2009 3G 2G3G 3G 32009 2009 3GFTTX 14

2009277.140.4% 7.840.5%0.45 1 3G 149.5111.7% 127.60.7% 46.0%2G 2 46.2% 29.8%29.2% 2009GSM2G 3G2/3GSDR 3G3G XDSLFTTX 15

2009 29.8% GSMCDMA 3G 3G 403G 3G LTEWIMAX () 1 2009 1-6 2008 1-6 27,707,646 19,728,984 40.44% 633,655 462,922 36.88% 783,367 557,386 40.54% 16

2 27,707,646 18,824,349 32.06% 40.44% 43.67% -1.53% 18,796,810 12,419,048 33.93% 46.24% 52.22% -2.59% * 5,575,904 4,071,617 26.98% 29.83% 28.78% 0.60% 3,334,932 2,333,684 30.02% 29.20% 30.98% -0.95% 27,707,646 18,824,349 32.06% 40.44% 43.67% -1.53% 60,940 36,009 40.91% 26.28% 15.98% 5.25% 337 * 3 14,950,479 111.71% 6,450,316 14.16% 2,497,366-34.87% 3,809,485 19.69% 27,707,646 40.44% 4 10% 18,796,810 12,419,048 33.93% 5,575,904 4,071,617 26.98% 3,334,932 2,333,684 30.02% 5 1 17

2 2009 1-6 2008 1-6 () 52.32% 53.29% -0.97% 620.76% 667.40% -46.64% 0.19% 5.95% -5.76% 47.68% 46.71% 0.97% 3 6 7 10% 82009 9 1 2008 1 30 400,000 4,000 3,961,443,520 2008 2 5 44301560040310230000 2008 2 5 8,144.35 396,144.35 2009 6 30 18

396,144.35 8,144.35 0 0 2 1 2-1 396,144.35 2 /1 TD-SCDMA HSDPA TD-SCDMA TD 18,782 0 18,782.00 3.03 11,776 0 11,776.00 4.12 67,326 13,460.92 54,672.43 5.70 174,915 38,032.91 174,915.00 5.29 IP 53,358 13,612.97 51,119.94 5.93 39,727 0 39,727.00 5.49 56,635 14,356.48 44,844.19 5.31 xpon 49,371 14,819.29 47,548.31 5.42 64,108 12,140.50 52,079.97 5.05 ICT 99,647 24,693.83 79,610.42 3.94 RFID 19,394 5,934.18 15,806.07 5.02 --- 655,039 --- 137,051.08 590,881.33 --- --- --- --- ---- ---- 19

2007 12 31 157,693.66 2008 3 14 2009 6 30 1 2 2009 6 30 590,881.33 TD-SCDMA HSDPA 90 TD-SCDMA TD-SCDMAHSDPA TD-SCDMA HSUPA2009 2009 TD TD-LTETD TD-LTETD-LTE 200810TD-LTE 20095SDRGSMTD-SCDMA TD-LTE 20

: WCDMA GoTaG780ISG783 GoTaG880G660G79S580 IMS2009IMS TD-SCDMA GSM/UMTS/CDMA/WIMAX/LTE/TD-SCDMA,3 IP ZIMS TM IMSZIMS TM CDMACDMA ZIMS TM 1080P IMSIMS ZIMS TM IMS GSMCDMAWCDMATD-SCDMA 21

xpon 2009 EPON EPON EPON EPON EPON EPON EPONGPON GSMA Mobile World Congress ZXONE 5800 ictn 3 12 IP iwdm "" PTN PTN OVUM-RHK ICT ICT IT CT 2009 3G ADC EMA/EBG/UDB BAMP 22

ICT Push Mail RFID RFID20082009 2008 20102011 2 10 1 2 2008 2009 2009 12009 3G 23

2 1 2 3 4 5 24

() 1 2 2009 6 30 () 2008 2008 ( 2008 12 31 1,343,330,310 10 3 10 3 ) 2009 5 19 2008 A 2009 6 4 2009 6 5 H 2009 4 17 2009 6 5 A H 2009 6 5 2009 5 26 2009 5 27 () 2009 2009 () 1 25

2009 2 2 32,000,000 http://www.cninfo.com.cn 2008 2 2008 7 10 2007 ZXC1 55.582 10.5 10.703 2009 6 5 2008 ZXC1 55.582 42.394 1: 0.703 1:0.922 () 12009 7 6 <> 4,022 85,006,813 2 2007 3 13 2007 2 2009 3 12 3,265 15,269,290 A 19 1 2009 3 19 709,582 26

14,559,708 2009 7 22 2009 7 7 2009 7 23 21 () 30% 2008 10 10 A 2008 10 11 () 12005 12, 3,645 ( 24,902 ) 2009 4 22005 11 () 27

3,500 3,600 7,100 200812 3,500 1,166 20094 2008 (), (), () 1 5% 2 28

2009 2007 4 19 2008 10 24 2009 3 20 2009 4 24 2009 800 19,000 44,000 19, 25,000 1-31000 /, 1-17000 /, 2-300000 / 2-50 / 20000-100000 /, 320-2500 / 350-4100 /, 40 / /( ) 42.5 / / 2.5 // 115 / /( ) 2009 1-6 37,618.35 2.17% 17,727.30 1.02% 4,35.03 2.61% 1,095.25 6.57% 1,732.39 10.39% 29

2009 4 18 6,000 25,000 31,000 3 20,000 30 / /( ) 227.13 1.36% 3 4 5 () 1 2 (1) 2006 9 8 5,000 United Telecoms Limited 1 2006 12 11 73,923,700 ( 1,047.79 ) 12 3 6.5 2007 6 28 300 2 0 (A) 8,117.62 30

3 500 (B) 6,640.55 A+B) 2 51,435.62 3.48% C 0 70% (D) 4 1,640.55 50% (E) 0 (C+D+E) 1,640.55 1 United Telecoms Limited 2, 300 70% 3 51% 4,000 500 70% 2009 500 4,000 4 2 51% 70% 5 10.14174 2009 6 30 16.83190 2009 6 30 6 (2) 20051350 185 165( 2005) 3 31

1 22009 3[2005]120 [2003]56 4 5 1 Ethiopian Telecommunications Corporation 2 GSM 2007430 2007920 3 2008 4 2008 5 2008 2008ISPP 20081118 20081118 2008124 32

, 2008 20093 2008 20093 2008 20093 UBS 20091 UBS 20093 20095 20096 20096 2009 2009 BlackShip Capital Management Oppenheimer FundHenderson GlobalMatthews International Collins Stewart JP Morgan asset managementmirae Asset SecuritiesJoho Capital Samsung Investment 33

1 30% 2008 10 10 A () 30% 2 5% 5% 2009 1 17 2009 2 4 2009 3 5 2009 3 20 2009 3 20 2009 3 20 2009 3 20 2009 3 20 2009 3 20 2009 3 21 2009 4 24 A16 22 B6 A16 C3 C8 A12 C6 C8 D027 C17 D17 D025 C17 D17 D027 C18 D20 D028 C18 D20 D028 C19 D20 D028 C19 D20 C005 16 B20 D023 C17 D32 2008 2009 2008 34

2009 4 24 D023 C17 D32 2009 2009 4 24 D023 C17 D32 2009 4 24 D023 C17 D32 2009 4 30 D005 C169 D108 2008 2009 4 30 D005 C169 D108 2008 2009 5 12 C12 C24 D4 2009 5 12 C12 C24 D4 2009 5 12 C12 C24 D4 2009 2009 5 20 D012 C6 B6 2008 2009 5 20 D012 C6 B6 2009 5 20 D012 C6 B6 2009 5 23 C009 31 B9 2009 5 27 C12 C11 B8 2008 2009 6 5 D005 C19 D2 ZXC1 2009 6 6 C016 25 B3 2009 6 6 C016 25 B3 35

2009 6 11 C12 C3 A4 2009 2009 6 11 C12 C3 A4 2009 2009 7 1 C12 C11 D2 2009 2009 7 7 A12 C16 D2 2009 7 7 A12 C16 D2 2009 7 23 C08 C9 D3 2009 7 23 C08 C9 D3 2009 7 23 C08 C9 D3 http://www.cninfo.com.cn 36

() 12,428,251 11,480,406 4,343,166 1,578,473 13,324,235 9,972,495 1,443,570 1,658,941 306,436 355,887 1,063,995 757,847 11,394,005 8,978,036 8,871,805 7,894,010 53,175,463 42,676,095 252,310 251,148 556,645 612,008 1,027,550 753,568 185,857 168,433 4,336,639 4,103,076 895,406 817,086 541,896 589,084 675,429 476,020 412,287 400,265 14,723 19,138 8,898,742 8,189,826 62,074,205 50,865,921 37

5,184,513 3,882,479 1,443,570 1,658,941-12,560 9,519,953 6,318,059 12,794,723 9,495,946 3,582,481 2,965,582 1,537,490 1,392,862 1,363,352 1,443,017 (432,653) (765,040) 36,415 22,750 1,555,405 1,553,011 52,881 64,281 177,545 170,382 1,576,624 1,782,006 38,392,299 29,996,836 3,259,435 1,292,547 1,027,550 753,568 3,557,463 3,514,652 80,000 80,000 1,461 5,019 39,752 39,752 7,965,661 5,685,538 46,357,960 35,682,374 1,746,329 1,343,330 6,073,053 6,298,172 1,431,827 1,431,820 5,804,608 5,021,369-402,999 (294,517) (248,146) 14,761,300 14,249,544 954,945 934,003 15,716,245 15,183,547 62,074,205 50,865,921 38

27,707,646 19,728,984 18,824,349 13,102,213 300,045 149,116 3,177,139 2,616,839 1,367,727 1,130,733 2,606,448 1,647,898 367,352 401,878 445,929 199,458 12,648 (69,633) 2,350 51,706 10,460 9,874 633,655 462,922 620,153 435,544 42,612 29,824 6,598 3,459 1,211,196 868,642 342,457 199,216 868,739 669,426 783,367 557,386 85,372 112,040 0.45 0.32 0.44 0.31 (46,371) (20,742) 822,368 648,684 736,996 536,644 85,372 112,040 *20081,343,330,3101,746,329,4022008 39

20091-6 20081-6 22,127,889 16,396,543 1,695,724 1,386,756 46 133,835 88,165 23,957,448 17,871,464 15,814,789 14,324,030 4,243,320 3,282,379 1,494,958 909,679 46 3,579,584 2,506,581 25,132,651 21,022,669 47 (1,175,203) (3,151,205) 2,808-8,229 66,418 488 3,930 11,525 70,348 390,832 687,424 16,976 5,426 407,808 692,850 (396,283) (622,502) 33,956-7,638,557 4,313,005-3,961,443 7,672,513 8,274,448 4,575,017 3,007,235 743,149 277,157 5,318,166 3,284,392 2,354,347 4,990,056 (50,178) 52,783 732,683 1,269,132 11,344,160 6,309,749 12,076,843 7,578,881 * 42

7,459,671 8,331,272 4,228,373 1,513,358 16,536,422 13,186,642 1,344,597 1,783,941 13,245 18,546 29,620 23,848 1,855,195 1,442,177 6,126,063 5,211,017 8,431,047 8,038,449 46,024,233 39,549,250 243,198 243,198 1,380,760 1,214,038 1,152,550 753,568 1,878,552 1,747,760 2,838,141 2,608,957 578,863 402,290 446,436 479,947 149,134 137,915 270,533 231,182 8,938,167 7,818,855 54,962,400 47,368,105 43

3,244,613 1,273,828 1,443,570 1,783,941-12,560 9,924,334 6,901,568 14,058,421 12,582,726 2,405,138 2,408,455 919,210 1,640,192 730,941 596,515 (528,888) (993,777) 75 10 3,783,184 4,188,152 27,060 31,263 99,154 100,724 478,233 673,384 36,585,045 31,199,541 2,923,104 1,005,039 1,152,550 753,568 3,557,463 3,514,652 80,000 80,000 7,242 7,242 39,752 39,752 7,760,111 5,400,253 44,345,156 36,599,794 1,746,329 1,343,330 6,046,018 6,271,137 769,482 769,603 2,067,479 1,992,735-402,999 (12,064) (11,493) 10,617,244 10,768,311 54,962,400 47,368,105 44

25,877,672 17,288,907 21,049,253 14,795,021 56,821 21,786 2,532,147 1,928,474 813,699 618,361 655,795 352,214 393,012 565,193 307,927 109,702 12,559 (77,508) 50,583 1,224,353 6,952 2,652 132,160 45,001 71,882 42,135 10,242 19,915-2,152 193,800 67,221 119,056 39,845 74,744 27,376 0.04 0.02 0.04 0.01 (571) (4,462) 74,173 22,914 *20081,343,330,3101,746,329,4022008 45

20091-6 20081-6 20,925,787 14,435,600 1,142,593 956,566 93,915 60,571 22,162,295 15,452,737 21,010,570 15,694,416 1,110,119 997,689 95,665 94,069 3,424,254 1,492,251 25,640,608 18,278,425 (3,478,313) (2,825,688) - - 48,067 50,641 - - 48,067 50,641 311,199 616,417 134,176-445,375 616,417 (397,308) (565,776) 33,456-5,398,483 3,348,161-3,961,443 5,431,939 7,309,604 1,704,784 2,833,018 685,089 222,170 2,389,873 3,055,188 3,042,066 4,254,416 (63,458) 87,918 (897,013) 950,870 * 8,323,750 4,604,365 7,426,737 5,555,235 * 48

2009630 (1997)4524531997106 19971118 2003 200312 200511 20061229 19971111 4403011015176N35868 20041292004 [2004]865 [2004]38(H )160,151,040158,766,450 1,384,590 20051228 2008200812311,343,330,310 103402,999,0922009 20096301,746,329,40232 49

2006 2004129 20096302009 2009 1. 111231 2. 3. 4. 50

4. ( ) 5. 2009 630 51

5. 6. 7. 52

8. 9. 53

10. 54

11. 30 5% 3.17% 5-10 5% 9.5%-19% 5-10 5% 9.5%-19% 5-10 5% 9.5%-19% 5 5% 19% 12. 13. 55

13. 5 10 50 20 14. 56

15. ( ) 1) 2) 3)(a) (b) 57

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15. () 60

15. 2 16.,, - - - 61

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18. 19. 20. 63

21. 1 200211 () ( ) / 64

22. 1) 2) 1) 2) 65

23. 24. 1) 2) 3) / / 66

24. 15-14- 67

24. 19 68

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2008-2010 15% 2008-2010 15% [2009]132 15% 2008-201015% [2004]0372 20% 2009 10% (2005)0217 20% (2006)0002 20% 20081231 2008-2010 15% 2008-2010 15% 70

2008-201015% 2007301 20% 2008-2010 [2007]4 25% 2008-2010 2008-2010 15% [2008]29 25% 2008-2010 2008-2010 15% 2008-2010 15% 71

5000 4900 73% 25% 98% 75250847-2 () 50000 50000 100% - 100% 5000 5000 90% 10% 100% 76199710-8 5000 4500 90% - 90% 279285671 ZTE Telecom India Private Limited. 12.5 2880 100% - 100% 20000 4504 76% - 76% 74537900-0 3000 1530 51% - 51% 75860475-6 3958.3 3167 80% - 80% 73205874-2 1000 650 65% - 65% 71869554-2 3110 1570 51% - 51% 1489470-9 5500 4400 75% 5% 80% 74886449-0 1000 510 51% - 51% 76223980-0 60000 60000 100% - 100% 68385252-7 () 10000 10000 100% - 100% 68908984-1 3000 2400 80% - 80% 68908984-1 20091-65 72

1. 2009630 20081231 585 1 585 656 1 656 1,166 6.8319 7,966 1,343 6.8346 9,179 593 1.8168 1,077 1,250 1.8193 2,274 1,309 9.6408 12,620 210 9.659 2,028 13,700 0.0258 353 12,735 0.0268 341 2,256 0.0951 215 1,875 0.0963 181 397 0.1417 56 1,262 0.1402 177 127 0.2008 26 454 0.1958 89 21 0.8815 19 37 0.8819 33 - - 11,860 - - 341 34,777 15,299 2009630 20081231 6,872,006 1 6,872,006 6,334,308 1 6,334,308 581,568 6.8319 3,973,214 495,904 6.8346 3,389,305 135,103 0.8815 119,093 27,651 0.8819 24,385 49,874 3.5066 174,888 21,340 2.8944 61,767 690,039 0.0841 58,032 2,166,164 0.0864 187,157 20,610 1.2244 25,235 28,296 1.2382 35,036 384,748,527 0.0007 269,324 225,974,462 0.0006 135,585 33,409 9.6408 322,089 88,884 9.659 858,531 374,051 0.0951 35,572 1,030,179 0.0963 99,206 8,033 1.9395 15,580 5,962 1.973 11,763 160,428 191,818 12,025,461 11,328,861 73

1. 2009630 20081231 343,356 1 343,356 132,184 1 132,184 24,657 4,062 368,013 136,246 12,428,251 11,480,406 2009630 20081231 326,825 131,519 24,583 4,727 351,408 136,246 73 2. 2009630 20081231 698,847 370,751 3,644,319 1,207,722 4,343,166 1,578,473 20096305% 74

3. 0-90 1 2009630 20081231 6,207,402 1 6,207,402 3,492,649 1 3,492,649 570,014 6.8319 3,894,279 599,951 6.8346 4,100,425 126,365 9.6408 1,218,260 119,375 9.659 1,153,043 826,233 0.0841 69,486 3,572,039 0.0864 308,624 4,356,775 0.1417 617,355 3,360,114 0.1402 471,088 1,317,453 446,666 13,324,235 9,972,495 2009630 20081231 1 13,191,355 9,915,769 12 1,074,930 1,016,036 23 467,478 265,763 376,220 301,657 15,109,983 11,499,225 1,785,748 1,526,730 13,324,235 9,972,495 2009630 20081231 7,377,164 49% 987,270 13% 5,792,559 50% 915,130 16% 7,732,819 51% 798,478 10% 5,706,666 50% 611,600 11% 15,109,983 100% 1,785,748 12% 11,499,225 100% 1,526,730 13% 75

3. 2009630 1,526,730 377,187 - (118,169) 1,785,748 20081231 1,055,465 471,265 - - 1,526,730 4,971,969(20081231 3,454,485)32.91% (2008123130.04% ) 20096305% (20081231943) 1,443,570(200812311,658,941) 2009630 20081231 3,859,783 2,625,931 1 5,422,208 5,866,359 9,281,991 8,492,290 2009630 20081231 5,584,970 1 5,584,970 3,380,510 1 3,380,510 1,204,627 6.8319 8,229,891 1,173,369 6.8346 8,019,507 221,416 9.6408 2,134,627 164,686 9.659 1,590,702 586,934 195,923 16,536,422 13,186,642 76

3. 2009630 20081231 1 13,410,813 11,239,738 12 2,847,485 1,939,666 23 887,706 765,127 3 788,949 475,326 17,934,953 14,419,857 1,398,531 1,233,215 16,536,422 13,186,642 2009630 20081231 9,309,549 52% 762,550 8% 7,993,118 55% 780,827 10% 8,625,404 48% 635,981 7% 6,426,739 45% 452,388 7% 17,934,953 100% 1,398,531 8% 14,419,857 100% 1,233,215 9% 2009630 1,233,215 283,485-118,169 1,398,531 20081231 887,848 345,367 - - 1,233,215 4,805,845(20081231 3,765,089)26.80%(2008123126.11%) 20096305% (20081231) 77

3. 1,344,597(200812311,783,941) 2009630 20081231 3,696,996 2,387,433 9,215,436 8,411,777 1 12,912,432 10,799,210 4. 2009630 20081231 1 306,436 100% 355,887 100% 20096305% (20081231) 30% IRIS Telekom 32,234 1-12 22,659 1-6 POLING_ENTERPRISES_LTD 19,459 1-6 Sadeven 12,298 1-12 EMC Information Systems International 7,693 1-6 94,343 78

5. : 2009630 20081231 1 865,238 662,704 12 143,627 66,421 23 51,347 19,852 3 3,783 8,870 1,063,995 757,847 - - 1,063,995 757,847 2009630 20081231 160,061 192,827 15.04% 25.44% 20096305% 2009630 20081231 1 1,386,714 1,082,947 12 252,053 228,207 23 92,298 28,393 3 124,130 102,630 1,855,195 1,442,177 - - 1,855,195 1,442,177 2009630 20081231 1,822,060 1,176,885 98.21% 81.60% 79

5. 6. 20096305% (20081231) 2009630 20081231 3,196,450 2,166,948 144,605 89,550 1,121,707 745,131 2,871,913 2,337,993 4,634,269 4,108,578 11,968,944 9,448,200 (574,939) (470,164) 11,394,005 8,978,036 16 7. 2009630 20081231 8,871,805 7,894,010 (3,582,481) (2,965,582) 5,289,324 4,928,428 33,954,879 32,018,956 ( (28,665,555) (27,090,528) 5,289,324 4,928,428 80

8. 2009630 20081231 252,310 251,148 2009630 5,000 - - 5,000 3,240 - - 3,240 ( 1,024 - - 1,024 32,000 - - 32,000 2,000 - - 2,000 200 - - 200 201,734 - - 201,734 () 3,430 - - 3,430 VENEZOLANA DE 2,520 - - 2,520 TELECOMUNICAIONES E.S.C.A. PTIC-ZTE Telecom Technology - Joint Stock Company 1,162 1,162 251,148 1,162-252,310 2009630 20081231 243,198 243,198 2009630 5,000 - - 5,000 3,240 - - 3,240 ( 1,024 - - 1,024 32,000 - - 32,000 200 - - 200 201,734 - - 201,734 243,198 - - 243,198 81

9. 2009630 20081231 696,136 787,532 (139,491) (175,524) 556,645 612,008 2009630 175,524 - (36,033) - 139,491 20081231 181,388 - (5,864) - 175,524 1,027,550(20081231753,568) 2009630 20081231 620,827 696,907 864,856 654,019 (104,923) (136,888) 1,380,760 1,214,038 2009630 136,888 - (31,965) - 104,923 20081231 181,388 - (44,500) - 136,888 1,152,550(20081231753,568) 82

10. 2009630 20081231 (1) 2,255 2,255 (2) 183,602 166,178 : - - 185,857 168,433 2009630 (1) 1 2 3 4 5=1+2+3+4 Bestel Communications Ltd. 50% 2,050 - - - 205 - - 2,255 2,050 - - - 205 - - 2,255 83

10. 2009630 (2) / 1 2 3 4 5=1+2+3+4 KAZNURTEL Limited Liability Company 49% 1,012 - - - 1,465 - - 2,477 () 30% 4,500 - (2,532) - (3,634) - - 866 26.67% 30,000 (1,844) 14,011-13,312 - - 41,468 23% 60,000 - (4,423) - (8,920) - - 51,080 () 49% 3,380 (35) (104) - (192) - - 3,153 31% 3,500 - (922) - 4,693 - - 8,193 40% 4,000 - (325) - (2,376) - - 1,624 23% 2,500-205 - 3,779 - - 6,279 30% 3,335 2,006 (1,394) - 7,937 - - 13,278 22.5% 4,500-5,301-16,114 - - 20,614 35% 3,500 - (579) - (1,123) - - 2,377 30% 1,800-354 - 2,378 - - 4,178 30% 1,000-364 - 14,792 - - 15,792 WANAAG Communications Limited 45% 351 - - - (212) - - 139 49% 490 - (205) - (616) - - (126) 30% 4,500 - (209) - (209) - - 4,291 20% 3,000-1,002-1,002 - - 4,002 40% 4,000 - (83) - (83) - - 3,917 135,368 127 10,461-48,107 - - 183,602 84

10 2009630 Bestel Communications Ltd. 600,000 50% 50% 6,000,000 1 81,600,000 KAZNURTEL Limited Liability Company 3,000,000 11,332,729 11,000,000 10,000,000 2,500,000 2 44,000,000 30,000,000 10,000,000 WANAAG Communications Limited 100,000 1,290,000,000 () 15,000,000 1,000,000 15,000,000 () 1,000,000 15,000,000 10,000,000 30% 30% 26.67% 26.67% 49% 49% 30.88% 30.88% 22.73% 22.73% 40% 40% 30% 30% 22.50% 22.50% 30% 30% 35% 35% 45% 45% 23.26% 23.26% 30% 30% 49% 49% 30% 30% 49% 49% 20% 20% 40% 40% 1 74,000,00081,600,000 29.4%26.67% 220,000,000 44,000,000 85

10. 2009630 2009630 2009630 20091-6 20091-6 Bestel Communications Ltd. 4,606 96 - - 36,113 28,280 26,470 1,179 235,177 94,641 158,887 35,628 KAZNURTEL Limited Liability Company 7,164 2,109 - - 115,127 89,714 72,190 (2,987) 100,761 73,125 45,473 904 14,503 10,443 12,847 (812) 129,347 78,198 94,445 1,212 148,762 57,997 79,888 23,561 49,008 4,630 63,506 (4,647) 7,041 248 315 (1,655) WANAAG Communications Limited 1,408 2,120 - - 229,910 1,580 3,382 (19,014) () 65,427 84,183 3,603 (8,441) 228 486 - (419) 47,100 33,237 38,333 (697) 6,446 - - (212) 84,344 64,332 47,480 5,012 9,795 4 - (209) 86

10. 20081231 (1) / 1 2 3 4 5=1+2+3+4 Bestel Communications Ltd. 50% 2,050 - - - 205 - - 2,255-2,050 - - - 205-2,255 (2) / 1 2 3 4 5=1+2+3+4 30% 1,800-1,096-2,024 - - 3,824 29.4% 30,000 (1,844) 9,658 - (699) - - 27,457 KAZNURTEL Limited Liability Company 49% 1,012 - - - 1,465 - - 2,477 30.88% 3,500-1,459-5,615 - - 9,115 22.73% 2,500-782 (909) 3,574 - - 6,074 40% 4,000 - (625) - (2,051) - - 1,949 30% 1,000-2,209-14,428 - - 15,428 22.5% 4,500-7,844 (1,125) 10,813 - - 15,313 ( ) 30% 4,500 - (10) - (1,102) - - 3,398 30% 3,335 2,006 5,513-9,332 - - 14,673 35% 3,500-96 - (543) - - 2,957 WANAAG Communications Limited 45% 351-46 - (212) - - 139 23.26% 60,000 - (4,497) - (4,497) - - 55,503 () 49% 3,380 - (88) - (88) - - 3,292 49% 490 - (411) - (411) - - 79 30% 4,500 - - - - - - 4,500 128,368 162 23,072 (2,034) 37,648 - - 166,178 87

10 20081231 Bestel Communications Ltd 600,000 50% 50% KAZNURTEL Limited Liability Company () WANAAG Communications Limited () 6,000,000 30% 30% 74,000,000 29.4% 29.4% 3,000,000 49% 49% 11,332,729 30.88% 30.88% 11,000,000 22.73% 22.73% 10,000,000 40% 40% 2,500,000 30% 30% 20,000,000 22.5% 22.5% 15,000,000 30% 30% 30,000,000 30% 30% 10,000,000 35% 35% 100,000 45% 45% 1,290,000,000 23.26% 23.26% 1,000,000 49% 49% 1,000,000 49% 49% 15,000,000 30% 30% 88

10. 20081231 2008 2008 2008 2008 Bestel Communications Ltd 4,606 96 - - 45,016 32,269 57,491 6,746 166,900 81,699 218,737 21,979 KAZNURTEL Limited Liability Company 7,164 2,109 - - 97,603 68,695 239,657 4,724 98,937 72,206 97,777 6,351 16,579 11,706 62,227 (1,562) 100,426 48,989 186,970 6,441 108,632 40,122 117,728 34,864 () 68,467 78,782 37,118 (32) 59,865 10,839 220,871 18,267 8,765 318 4,224 274 WANAAG Communications Limited 1,475 2,308 890 103 242,246 3,587 - (19,331) 311 151 - (839) 4,500 - - - 6,921 270 - (180) 89

10. 2009630 20081231 (1) 1,892,572 1,768,698 - - (2) 99,045 92,127 : (3) (113,065) (113,065) 1,878,552 1,747,760 90

10. 2009630 (1) 45,000 45,000 - - 45,000 ZTE (USA) Inc. 5,381 5,381 - - 5,381 3,920 3,920 - - 3,920 () 53,200 449,364-1 449,363 15,698 15,698 - - 15,698 Telrise (Cayman) Telecom Ltd. 15,770 21,165 - - 21,165 29,700 29,700 - - 29,700 Congo-Chine Telecom S.A.R.L 55,800 55,800 - - 55,800 3,900 3,900 - - 3,900 45,799 45,799 - - 45,799 24,282 23,982 - - 23,982 ZTE (UK) Ltd. 4,533 5,286 - - 5,286 ZTE Do Brasil LTDA 10,058 18,573 - - 18,573 38,609 36,500 - - 36,500 41,250 41,261 - - 41,261 ZTE Wistron Telecom AB 2,445 3,137 - - 3,137 ZTE-Communication Technologies, Ltd. 4,188 4,188 - - 4,188 ZTE Corporation Mexico S. DE R. L DE C.V. 41 41 - - 41 15,300 15,300-125 15,175 Zhongxing Telecom Pakistan (Private) Ltd. 2,971 2,971 - - 2,971 13,500 13,500 - - 13,500 45,000 45,000 - - 45,000 5,100 5,100 - - 5,100 ZTE Holdings (Thailand) Co., Ltd. 10 10 - - 10 ZTE (Thailand) Co., Ltd. 2,044 5,040 - - 5,040 540 540 - - 540 ZTE Telecom India Private Ltd. 1,654 196,826 - - 196,826 ZTE Romania S.R.L. 827 827 - - 827 ZTE (Malaysia) Corporation SDN.BHD. 496 496 - - 496 ZiMax (Cayman) Holding Ltd. 45,485 45,485 - - 45,485 11,396 11,396 - - 11,396 Closed Joint Stock Company TK Mobile 4,258 4,258 - - 4,258 PT. ZTE Indonesia 1,654 1,654 - - 1,654 6,000 6,000 - - 6,000-600 - - 600 5,000 5,000 - - 5,000 600,000 600,000 - - 600,000 24,000-24,000-24,000 () 100,000-100,000-100,000 1,768,698 124,000 126 1,892,572 91

10. 2009630 (2) / 1 2 3 4 5=1+2+3+4 KAZNURTEL Limited Liability Company 49.00% 1,012 - - - 1,465 - - 2,477 ( ) 30.00% 4,500 - (2,532) - (3,634) - - 866 26.67% 30,000 (1,844) 14,011-13,312 - - 41,468 23.26% 60,000 - (4,423) - (8,919) - - 51,081 () 49.00% 3,380 (35) (104) - (192) - - 3,153 98,892 (1,879) 6,952-2,032 - - 99,045 (3) ZTE (USA) Inc. 5,381 Telrise (Cayman) Telecom Ltd. 12,970 23,767 3,900 17,657 ZTE(UK) Ltd. 4,533 ZTE Do Brasil LTDA 10,059 4,591 ZTE Wistron Telecom AB 2,030 ZTE Corporation Mexico S. DE R. L DE 41 C.V. Zhongxing Telecom Pakistan (Private) Ltd. 2,971 9,656 ZTE Holdings (Thailand) Co., Ltd. 10 ZTE (Thailand) Co., Ltd. 205 ZTE Telecom India Private Ltd. 1,654 ZTE Romania S.R.L. 827 ZTE (Malaysia) Corporation SDN.BHD. 496 ZiMax (Cayman) Holding Ltd. 12,317 113,065 92

10. 20081231 (1) 45,000 45,000 - - 45,000 ZTE (USA) Inc. 5,381 5,381 5,381 3,920 3,920 3,920 () 53,200 53,200 396,164 449,364 15,698 15,698 - - 15,698 Telrise (Cayman) Telecom Ltd. 15,770 21,165 - - 21,165 29,700 29,700 - - 29,700 Congo-Chine Telecom S.A.R.L 55,800 55,800 - - 55,800 3,900 3,900 - - 3,900 45,799 45,799 - - 45,799 24,282 23,982 - - 23,982 ZTE (UK) Ltd. 4,533 5,286 - - 5,286 ZTE Do Brasil LTDA 10,058 18,573 - - 18,573 38,609 36,500 - - 36,500 41,250 41,250 11-41,261 ZTE Wistron Telecom AB 2,445 3,137 - - 3,137 ZTE-Communication Technologies, Ltd. 4,188 4,188 - - 4,188 ZTE Corporation Mexico S. DE R. L DE C.V. 41 41 - - 41 15,300 15,300 - - 15,300 Zhongxing Telecom Pakistan (Private) Ltd. 2,971 2,971 - - 2,971 13,500 13,500 - - 13,500 45,000 45,000 - - 45,000 5,100 5,100 - - 5,100 ZTE Holdings (Thailand) Co., Ltd. 10 10 - - 10 ZTE (Thailand) Co., Ltd. 2,044 5,040 - - 5,040 540 540 - - 540 ZTE Telecom India Private Ltd. 1,654 1,654 195,172-196,826 ZTE Romania S.R.L. 827 827 - - 827 ZTE (Malaysia) Corporation SDN.BHD. 496 496 - - 496 ZiMax (Cayman) Holding Ltd. 45,485 45,485 - - 45,485 11,396 11,396 - - 11,396 Closed Joint Stock Company TK Mobile 4,258 4,258 - - 4,258 PT. ZTE Indonesia 1,654 1,654 - - 1,654 6,000 6,000 - - 6,000-600 - - 600 5,000 5,000 - - 5,000 600,000-600,000-600,000 577,351 1,191,347-1,768,698 93

10. 20081231 (2) /() 1 2 3 4 5=1+2+3+4 29.4% 30,000 (1,844) 9,658 - (699) - - 27,457 KAZNURTEL Limited Liability Company 49% 1,012 - - - 1,465 - - 2,477 ( ) 30% 4,500 - (10) - (1,102) - - 3,398 23.26% 60,000 - (4,497) - (4,497) - - 55,503 () 49% 3,380 - (88) - (88) - - 3,292 98,892 (1,844) 5,063 - (4,921) - - 92,127 (3) ZTE (USA) Inc. 5,381 Telrise (Cayman) Telecom Ltd. 12,970 23,767 3,900 17,657 ZTE(UK) Ltd. 4,533 ZTE Do Brasil LTDA 10,059 4,591 ZTE Wistron Telecom AB 2,030 ZTE Corporation Mexico S. DE R. L DE C.V. 41 Zhongxing Telecom Pakistan (Private) Ltd. 2,971 9,656 ZTE Holdings (Thailand) Co., Ltd. 10 ZTE (Thailand) Co., Ltd. 205 ZTE Telecom India Private Ltd. 1,654 ZTE Romania S.R.L. 827 ZTE (Malaysia) Corporation SDN.BHD. 496 ZiMax (Cayman) Holding Ltd. 12,317 113,065 94

11. 2,066,589 2,142,344 1,963,786 281,730 34,340 6,488,789 1,280 375,227 103,488 15,235 4,100 499,330-4,530 102,673 - - 107,203 - (57,760) (36,970) (8,903) (1,151) (104,784) (112) 443 (1,606) 137 820 (318) 2,067,757 2,464,784 2,131,371 288,199 38,109 6,990,220 312,506 1,043,119 820,718 102,951 19,417 2,298,711 30,683 157,106 148,465 9,781 5,115 351,150 - (53,844) (22,099) (6,568) (633) (83,144) (13) 272 (942) 44 501 (138) 343,176 1,146,653 946,142 106,208 24,400 2,566,579 7,708 77,819 1,475 - - 87,002 1,716,873 1,240,312 1,183,754 181,991 13,709 4,336,639 1,746,375 1,021,406 1,141,593 178,779 14,923 4,103,076 95

12. 1,000,000 151,726 132,291-284,017 86.30% 139,974 24,683-164,657 22,450 3,435-25,885 446,142 9,892 (95,810) 360,224 56,794 15,222 (11,393) 60,623 817,086 185,523 (107,203) 895,406 13. 337,632 5,032 480,273 94,530 917,467 9,993-510 - 10,503 1,378-102 15 1,495 346,247 5,032 480,681 94,515 926,475 249,754 1,454 1,821 48,398 301,427 27,818 358 27,741 1,608 57,525 1,319 - - 10 1,329 276,253 1,812 29,562 49,996 357,623 12,884-6,322 7,750 26,956 57,110 3,220 444,797 36,769 541,896 74,994 3,578 472,130 38,382 589,084 96

14. 2009630 20081231 527,286 379,774 148,143 96,246 675,429 476,020 20091-6 20081-6 2,606,448 1,647,898 242,762 126,225 15. 42,348 25,557 84,958 169,406 72,835 5,161 400,265 (18,739) 1,075-23,111 8,724 (2,149) 12,022 23,609 26,632 84,958 192,517 81,559 3,012 412,287 97

16. 1,702,254 377,187 (36,033) (118,169) 1,925,239 470,164 114,748 (9,973) - 574,939 87,002 - - - 87,002 26,956 - - - 26,956 2,286,376 491,935 (46,006) (118,169) 2,614,136 17. 2009630 20081231 1,678,000 1,678,000 343,000 343,000 327,000 2,234,031 384,546 2,628,218 656,000 92,982 - - 20,000 20,000 - - 1 5,000 5,000 2 1,110,000 1,110,000 127,117 868,794 3 44,500 44,500 42,467 5,184,513 3,882,479 2-12.9% 1 2 37 4 1,000 98

18. 2009630 20081231 3,689 3,689 36,063 36,063 39,752 39,752 20065 20189 3,689 19. 2009630 20081231 5,462,933 3,704,089 4,057,020 2,613,970 9,519,953 6,318,059 2009 6 30 5% 146,884 (2008 12 31 ) 20. 6 20096305% 7,173(20081231129,468) 21. 20096305% (20081231) 99

22. 23. 1,091,334 3,707,204 (3,844,291) 954,247 12,683 165,547 (170,896) 7,334 12,173 141,152 (138,897) 14,428 : 1,216 103,004 (101,938) 2,282 10,507 32,908 (31,719) 11,696 254 1,831 (1,831) 254 100 1,414 (1,414) 100 96 1,995 (1,995) 96 1,360 40,736 (41,154) 942 325,467 109,016 (48,082) 386,401 1,443,017 4,163,655 (4,243,320) 1,363,352 2009630 20081231 24. (1,233,359) (1,362,909) 64,095 12,063 2,561 2,809 781,344 559,953 234,484 148,843 546,860 411,110 6,037 7,154 55,154 27,311 (108,485) (11,421) (432,653) (765,040) 2009630 20081231 75 10 36,340 22,740 36,415 22,750 100

25 33,524 - (770) 32,754 44,792 27,475 (26,498) 45,769 92,066 116,273 (109,317) 99,022 26. 170,382 143,748 (136,585) 177,545 2009630 20081231 562,729 529,273 373,960 347,558 428,130 409,935 43,850 67,965 146,736 198,280 1,555,405 1,553,011 20096305% 308(20081231308) 27. 2009630 20081231 1,576,624 1,782,006 101

28. 2009630 20081231 USD 140,000 956,466 50,000 341,730 2009-2012 USD 20,000 136,638 20,000 136,692 2010 USD 70,000 478,233 - - 2011 RMB 1,830,000 1,830,000 800,000 800,000 2010-2011 RMB 61,000 61,000 - - 2011 - - 6,418 USD 53,820 367,693 55,200 377,270 2009 1 USD 105,000 717,350 105,000 717,633 2009-2010 2 INR 3,343 474 - - 2010 RMB 288,143 288,143 694,810 694,810 2010-2012 3 HKD 70 62 - - (1,576,624) (1,782,006) 3,259,435 1,292,547 0-5.75% 1TK mobile 2Congo-Chine Telecom S.A.R.L.51% 25% 3 102

29. 3,514,652 74,811 (32,000) 3,557,463 20081304,000 10040 5 1.63 6,52024 A78.1320087102009 6542.394 1:0.922 0.8%130 4,000,000 (580,210) (38,556) 3,381,234 103

30. (5,019) (5,019) 3,558 3,558 (1,461) (1,461) 31. 80,000 20018,000 2002 104

32. 1,746,3291 1 2 - - / - - - 1,693 0.13% 414 2,107 0.12% 3 - - - - - 1,693 0.13% 414 2,107 0.12% 1 1,117,426 83.18% 335,321 1,452,747 83.19% 2 224,211 16.69% 67,264 291,475 16.69% 1,341,637 99.87% 402,585 1,744,222 99.88% 1,343,330 100.00% 402,999 1,746,329 100.00% 33. 34. 5,078,849 - (402,999) 4,675,850 580,210 - - 580,210 39,414 (7) - 39,407 599,699 177,887-777,586 6,298,172 177,880 (402,999) 6,073,053 2009630 1,431,820 128 (121) 1,431,827 105

34. 35. 2009630 20081231 5,021,369 4,071,111 783,367 1,660,199 (128) (67,062) - (239,880) - (402,999) 5,804,608 5,021,369 36. 2009630 20081231 33,002 34,207 273,255 262,857 231,310 235,971 112,284 106,911 Congo-Chine Telecom S.A.R.L 56,782 74,089 40,977 39,080 747,610 753,115 106

37. 20091-6 20081-6 27,611,425 19,633,969 96,221 95,015 27,707,646 19,728,984 20091-6 20081-6 18,755,118 13,030,468 69,231 71,745 18,824,349 13,102,213 200914,881,466 (20085,032,336)53.71%(2008 25.51%) 20091-6 20081-6 25,848,352 17,259,601 29,320 29,306 25,877,672 17,288,907 20091-6 20081-6 21,043,546 14,792,264 5,707 2,757 21,049,253 14,795,021 107

37. 200914,639,489 (20084,645,405)56.57%(2008 26.87%) 38. 20091-6 20081-6 267,473 89,953 9,039 8,017 12,533 12,836 11,000 38,310 39. 300,045 149,116 20091-6 20081-6 392,152 321,591 (48,998) (53,806) /() (128,965) 76,438 70,451 36,688 82,712 20,967 367,352 401,878 108

40. 20091-6 20081-6 341,154 168,191 104,775 31,267 445,929 199,458 41. 20091-6 20081-6 42. 12,648 (69,633) 20091-6 20081-6 10,460 9,874 (10,210) 29,914-10,423 2,100 1,495 2,350 51,706 20091-6 20081-6 53,841 1,174,944 6,952 4,252 (10,210) 45,157 50,583 1,224,353 109

43. / 20091-6 20081-6 1 511,557 346,839 41,911 31,725 47,226 35,414 19,459 21,566 620,153 435,544 1 3% 20091-6 20081-6 24,341 19,532 18,271 10,292 42,612 29,824 44. 20091-6 20081-6 358,037 276,870 (15,580) (77,654) 342,457 199,216 110

44. 20091-6 20081-6 1,211,196 868,642 1 302,799 217,160 (121,120) (86,865) (1,042) 219 (88,858) (154,031) 279,276 105,562 (40,176) (3,635) 11,578 120,806 342,457 199,216 1 / 111

45. 12 3 1 2 20091-6 20081-6 783,367 557,386 1 1,746,329 1,746,329 46,754 46,754 1,793,083 1,793,083 120096402,999,092 1,746,329,402 112

46. 20091-6 20081-6 89,137 67,139 20091-6 20081-6 1,896,073 1,707,621 949,617 582,219 47. 20091-6 20081-6 868,739 669,426 445,929 199,458 351,150 255,220 100,878 40,062 4,415 3,322 6,598 3,459 (12,648) 69,633 263,187 398,029 (2,350) (51,706) (12,022) 33,723 (3,558) - (2,520,744) (69,698) (7,570,519) (4,380,275) 6,943,017 (518,215) 177,887 148,834 / (215,162) 47,523 (1,175,203) (3,151,205) 113

48. 20091-6 20081-6 34,777 16,698 12,025,461 6,595,107 16,605 967,076 12,076,843 7,578,881 351,408 125,898 (i) (ii) (a) (b) (c) 114

1. 20091-6 18,796,810 5,575,904 3,334,932 27,707,646 4,018,848 804,536 582,729 5,406,113 620,153 (4,470,826) (367,352) 12,648 10,460 1,211,196 (342,457) 868,739 326,506 81,887 48,550 456,443 304,737 88,360 52,832 445,929 2009630 26,530,046 7,692,592 4,599,452 38,822,090 23,252,115 62,074,205 3,874,687 811,847 433,437 5,119,971 41,237,989 46,357,960 585,459 145,935 87,054 818,448 115

1. 20081-6 12,853,251 4,294,615 2,581,118 19,728,984 2,892,458 530,833 437,525 3,860,816 435,544 (2,966,081) (401,878) (69,633) 9,874 868,642 (199,216) 669,426 193,199 71,790 33,615 298,604 129,810 44,105 25,543 199,458 20081231 22,468,395 4,931,776 4,364,533 31,764,704 19,101,217 50,865,921 3,399,777 149,854 808,813 4,358,444 31,323,930 35,682,374 1,353,308 314,210 267,601 1,935,119 116

2. 20091-6 14,950,479 6,450,316 2,497,366 3,809,485 27,707,646 2009630 39,229,225 11,344,648 7,782,750 3,717,582 62,074,205 20081-6 7,061,610 5,650,277 3,834,430 3,182,667 19,728,984 20081231 29,947,902 9,779,680 7,558,069 3,580,270 50,865,921 117

1. 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 2. 35.52% 35.52% 19222451-8 10,000 118

3. 27941498X H0420141-X 715233457 74323392-1 75048467-3 72619249-4 77878418-2 43523013-9 12391552-6 18380498-2 75049913-8 78390928-7 76195854-3 77987106-0 76828981-7 76346680-2 71528448-1 77162861-3 77412852-6 75252829-7 78924272-7 77585307-6 77717887-9 67499255-2 () 72260457-8 71522427-8 76591251-1 119

4. (1) 20091-6 20081-6 4,353 2,812 329 126 28 17 - - 8 77 () 411 20,956-1 28,919 14,638 26,892 - - 9,629 60,940 48,256 0.22%20081-6 0.24% 120

4. (2) 20091-6 20081-6 250,118 229,015-51,679 111,257 88,818 7,992 8,438 3,295 4,691 10,652 16,742-19,393 20,596 12,689 23,471 12,467 19,751 17,627 () 1,609-5,087 4,429 ( 177,281 80,241-164 5,570 24,340 9,579 3,460 4,825 4,354 37,515 - - 646 688,598 579,193 3.97%20081-65.09 % 121

4. (3) 20091-6 20081-6 15,303 14,082 17,324 15,958 2,271-34,898 30,040 (4) 20091-6 20081-6 3,349 0.08% 3,173 0.11% 1) 2) 3)30~115 122

5. 2009630 20081231 12,955 3,800 14,416-27,371 3,800-943 602 6,102 9-1 19 4,033 3,924 54 54 17,747 6,706 10,779 1,672 33,225 19,420-182 600-119 1,106 719 1,288 909 909-1,125 909 2,034 123

5. 2009630 20081231 325 641-74 4,729 8,577 6,507 4,180 1,163 2,953 () - 9 819 1,026 65 59 14,749-1,542-146,884-176,783 17,519 73 13 1,621 3,235 7,173 129,468 478 597 11,113 7,482 1,678 1,296 10,811 13,500 176 176-7,122 16,875 12,216 3,414 2,723 () 58,714 59,006 3,203 3,012 3,435 215 3,879 2,331-249 - - 598 319 11,484-134,725 242,960 4,644 4,644 47 577 746 1,644 6,896 6,865 12,333 13,730 124

5. 2009630 20081231 12,087 12,087 6,897-18,984 12,087 65 65 12 12 65 65 48 48 2,015 2,015 130 130 4 4-30 1,715 215 308 308 500-4,862 2,892 12005 11 35,000 36,000 71,000 2008 12 35,000 11,666 2009 4 117,200 220068762,982 64,152 20082328,040 27,582 125

32008 7 35,819 244,712 2009 1 17 2009 1 19 4 2009 6 30 8,178,720 2009630 20081231 11 219,438 264,396 122 87,509 97,093 233 61,923 40,807 3 61,467 45,487 430,337 447,783 2009630 20081231 458,956 301,419 5,850,000 5,875,869 257,699 265,702 126

1 2009 6 30-12,428,251-12,428,251 - - 252,310 252,310-4,343,166-4,343,166-13,880,880-13,880,880-2,471,120-2,471,120-1,063,995-1,063,995-34,187,412 252,310 34,439,722 2009630-10,020,572 10,020,572-9,519,953 9,519,953-12,794,723 12,794,723-2,471,120 2,471,120 () - 1,181,445 1,181,445-1,363,352 1,363,352 - (1,213,997) (1,213,997) - 36,415 36,415-3,557,463 3,557,463-39,752 39,752-39,770,798 39,770,798 127

1 2008 12 31-11,480,406-11,480,406 - - 251,148 251,148-1,578,473-1,578,473-10,584,503-10,584,503-2,412,509-2,412,509-757,847-757,847 128-26,813,738 251,148 27,064,886 2

2 32.91% 359 3 2009 6 30 1 1-2 2-3 3 12,076,843 351,408 - - - 12,428,251 4,343,166 - - - - 4,343,166 9,464,452 3,859,783 277,641 127,950 151,054 13,880,880 2,471,120 - - - - 2,471,120 1,063,995 - - - - 1,063,995 252,310 - - - - 252,310 29,671,886 4,211,191 277,641 127,950 151,054 34,439,722 2008 12 31 1 1-2 2-3 3 11,344,160 136,246 - - - 11,480,406 1,578,473 - - - - 1,578,473 7,346,564 2,625,931 278,128 148,467 185,413 10,584,503 2,412,509 - - - - 2,412,509 757,847 - - - - 757,847 251,148 - - - - 251,148 23,690,701 2,762,177 278,128 148,467 185,413 27,064,886 129

3 2009630 1 1-2 2-3 3-6,761,137 2,409,754 849,681-10,020,572 2,471,120 - - - - 2,471,120 9,519,953 - - - - 9,519,953 12,794,723 - - - - 12,794,723 1,363,352 - - - - 1,363,352 (1,213,997) - - - - (1,213,997) 36,415 - - - - 36,415 1,181,445 - - - - 1,181,445-3,557,463 3,557,463 - - - - 39,752 39,752 26,153,011 6,761,137 2,409,754 849,681 3,597,215 39,770,798 20081231 1 1-2 2-3 3-5,664,485 1,006,024 5,000 281,523 6,957,032 2,412,509 - - - - 2,412,509 12,560 - - - - 12,560 6,318,059 - - - - 6,318,059 9,495,946 - - - - 9,495,946 1,443,017 - - - - 1,443,017 (1,324,993) - - - - (1,324,993) 22,750 - - - - 22,750 1,205,453 - - - - 1,205,453 - - - - 3,514,652 3,514,652 - - - - 39,752 39,752 19,585,301 5,664,485 1,006,024 5,000 3,554,404 30,096,737 130

4 2009630LIBOR 2%12.9%2009630 58%(200846%) 0.25 20091-620081-6 9,9988,498 5 / 2009 1-6 3% (57,405) -3% 57,405 2008 1-6 5% (82,346) -5% 82,346 / 2009 1-6 5% 79,103-5% (79,103) 2008 1-6 5% 31,314-5% (31,314) 131

4,02285,050,238 14,559,7082009722 200972343,425 85,006,813 2009819 132

5.31% 5.40% 0.45 0.44 5.11% 5.20% 0.43 0.42 20091-6 20081-6 783,367 557,386 / (76,267) (43,564) 42,612 29,824 5,048 2,061 754,760 545,707 - - 754,760 545,707 [2007]9 1 133

134 2009

2009 8 20 135