2005 002047 2005 0

2005 2 1 3 2 4 3 5 4 10 5 10 6 14 7 18 8 49 1

2005 http://www.cninfo.com.cn/ 2

2005 Shenzhen Globe Union Industrial Corp. Shenzhen Globe Union 002047 A 518057 www.szcl.com.cn silfa@mailcenter.com.cn A A A 0755-86022812 0755-86022812 0755-86022812 0755-86022813 0755-86022813 0755-86022813 silfa@mailcenter.com.cn silfa@mailcenter.com.cn silfa@mailcenter.com.cn www.cninfo.com.cn 3

2005 A 1993 4 30 109732 440306618884987 2072 8 961,870,697.03 519,760,071.41 85.06% 355,657,243.99 298,526,560.29 19.14% 1,138,983,421.90 700,844,879.35 62.52% 715,700,652.73 331,366,978.22 115.98% 3.55 2.20 61.27% 3.55 2.20 61.56% 1 6 35,701,118.65 32,805,248.65 8.83% 37,266,575.86 32,489,141.65 14.70% 0.18 0.22-18.18% 4.99% 11.82% -6.83% 49,066,048.82 50,846,091.42-3.50% 20,133 15,033 146,160.63 473,401.23 808,316.61-603,839.69 4

2005-1,739,396.90 173,939.69-1,565,457.21 [2005]16 2005 5 20 A 5,100 21,033 + - 1 150,330,000 150,330,000 3,788,316 3,788,316 146,541,684 146,541,684 2 3 4 150,330,000 150,330,000 1 51,000,000 51,000,000 51,000,000 2 3 4 51,000,000 51,000,000 51,000,000 150,330,000 51,000,000 51,000,000 201,330,000 [2005]16 A 5,100 4,080 1,020 2005 5 31 2005 5 31 2005 8 30 1 5

2005 20250 GLOBE UNION INDUSTRIAL 86,364,585 42.90% 0 (BVI) COPR. 60,177,099 29.89% 0 2,525,544 1.25% 0-2,445,173 2,445,173 1.21% - -MERRILL LYNCH INTERNATIONAL 1,694,769 1,694,769 0.84% 904,300 904,300 0.45% 730,012 730,012 0.36% - - 646,400 646,400 0.32% 631,386 0.31% 0 631,386 0.31% 631,386 A B H 2,445,173A - -MERRLLL LYNCH INTERNATIONAL 169,476A 904,300A 730,012A - - 646,400A - 535,000A - 415,600A - 351,075A - -UBS LIMITED 320,434A 310,760A 6

2005 2005 5 31 2005 8 30 2005 5 31 2005 8 30 50 2005 5 31 2005 8 30 7

2005 2005 5 31 2005 8 30 DEUTSCHE BANK AKTIENGESELLSCHAFT - - - - - - - - - - - - 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 - - -005L-CT001 - - -005L-FH002 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 - - - - 2005 5 31 2005 8 30 2005 5 31 2005 8 30 8

2005 - - 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 UBS LIMITED 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2005 5 31 2005 8 30 2 GLOBE UNION INDUSTRIAL (BVI) COPR. GOBO-BVI GLOBE UNION INDUSTRIAL (BVI) COPR. 1996 7 26 1600 GOBO-BVI 2005 6 30 27.76% 9

2005 2005 1 1-6 % 645,949,888.80 624,774,622.37 3.39% 127,704,493.40 119,272,677.93 7.07% 35,701,118.65 32,805,248.65 8.83% 49,066,048.82 50,846,091.42-3.50% 1 3.39% 2004 2005 2 7.07% 3 8.83% 4 2004 2 % 10

2005 961,870,697.03 519,760,071.41 85.06% 355,657,243.99 298,526,560.29 19.14% 1,138,983,421.90 700,844,879.35 62.52% 715,700,652.73 331,366,978.22 115.98% 1 2 (%) 645,949,888.80 518,033,802.88 19.80% 3.39% 2.48% 0.71% 111,894,798.94 92,594,764.27 17.25% 39.69% 39.86% -0.10% (%) 588,400,214.42 466,685,279.12 24.08% 11.33% 10.06% 0.92% 45,140,750.39 40,780,359.98 9.66% -29.66% -27.84% -2.28% 12,408,924.00 10,568,163.78 14.83% -61.32% -57.59% -7.48% 111,894,798.94 92,594,764.27 17.25% 39.69% 39.86% -0.10% 108,352,574.27 16.82% 3 % 11

2005 552,618,172.84 39,496,135.00 28,762,662.23 0.34% 14.86% 136.89% 8,695,933.40-31.06% 16,376,985.33 9.87% 645,949,888.80 3.39% 4 5 6 10% 7 1 41,863.26 417.93 2,490.60 % 0 0% 2008.05 18,638 135.19 1,235.03 24.4% 2007.05 5,063 4,888 10.39 129.48 2.6% 2008.05 3,291 257.07 391.51 11.9% 2007.05 2007.05 3,306 2,973 15.28 734.58 24.7% 2008.05 12

2005 2008.05 4,455-42,614 417.93 2,490.60 5.84% - - - -....,.. [ ] 2 1 5,063 1,235.03 2004 1,099.84 135.19 0 0 1,235.03 24.39% 2 4,888 129.48 2004 119.09 10.39 0 0 129.48 2.6 % 3 3,291 391.51 2004 134.44 257.07 0 0 391.51 11.89% 4 2,973 734.58 2004 719.3 15.28 0 0 734.58 13

2005 24.7% 3 3 2,490.60 5.84% 1 2 3 : 2 2 0 0 2 0 0 2 0 0 1 1 0 2 0 0 2 0 0 14

2005 2 0 0 2 0 0 2 0 0 2004 86,019,143.70, 10% 8,601,914.40 5% 4,300,957.19 2% 1,720,382.87 2004 76,705,347.76 2004 12 31 148,101,237.03 2005 3 16 70,000,000.00 2004 12 31 78,101,237.03 2004 70,000,000.00 2005 1 1 A 2005 2005 1 25,767,709.93 6.03% 3,542,224.67 0.55% GLOBE UNION INDUSTRIAL (B.V.I) CORP - - 66,646,979.80 10.35% GLOBE UNION (Bermuda)Ltd. - - 41,705,594.47 6.47% 25,767,709.93 6.03% 111,894,798.94 17.37% 15

2005 2 1 GLOBE UNION INDUSTRIAL (B.V.I) CORP 8,998,865.05 4.90% GLOBE UNION (Bermuda)Ltd. 45,060,103.63 24.51% 54,058,968.68 29.41% 2 13,233,703.05 7.46% 3 475,054.94 2.12% GLOBE UNION CANADA INC. 2,215,386.93 9.88% GLOBE UNION AMERICAN CORP. 3,816,572.74 17.02% 6,507,014.61 29.02% 3 ( ) 7000 2005 6 30 370 1 2 3 5% 1 5% GOBO-BVI 16

2005 GOBO 12 BVI 2 12 1. 2. [2003]56 1 50% 2 2003 56 [2003]53 17

2005 1 ( ) 589,670,180.10 167,972,643.66 547,678,489.18 119,009,697.90 180,783,397.29 178,586,051.56 165,153,420.54 166,185,164.93 4,393,614.47 5,942,812.53 2,681,892.46 5,417,921.78 11,119,621.79 5,766,890.55 9,923,214.51 5,524,819.25 5,637,323.53 1,591,019.54 5,356,781.88 1,501,618.29 168,944,385.21 158,972,574.01 119,908,535.33 122,216,852.43 1,322,174.64 928,079.56 853,947.36 345,004.63 961,870,697.03 519,760,071.41 851,556,281.26 420,201,079.21 1,910,037.56 1,930,321.16 90,992,430.41 95,410,571.08 1,910,037.56 1,930,321.16 90,992,430.41 95,410,571.08 263,000,966.17 257,416,259.54 110,945,734.36 106,103,578.92 90,183,175.14 79,789,870.14 46,379,197.48 42,611,314.00 172,817,791.03 177,626,389.40 64,566,536.88 63,492,264.92 1,981,202.87 1,983,037.07 1,981,202.87 1,983,037.07 170,836,588.16 175,643,352.33 62,585,334.01 61,509,227.85 261,660.02 281,200.94 222,137.19 255,198.12 18

2005 171,098,248.18 175,924,553.27 62,807,471.20 61,764,425.97 3,764,439.25 2,804,933.61 3,764,439.25 2,804,933.61 339,999.88 424,999.90 339,999.88 424,999.90 4,104,439.13 3,229,933.51 4,104,439.13 3,229,933.51 1,138,983,421.90 700,844,879.35 1,009,460,622.00 580,606,009.77 129,839,000.00 98,023,550.00 99,240,000.00 56,755,500.00 177,234,668.23 159,237,480.93 162,050,232.46 166,314,097.27 893,456.59 1,096,466.86 792,574.79 1,081,875.06 11,177,957.71 15,448,014.63 5,765,614.76 7,741,553.84 2,430,158.42 2,974,548.48 1,165,667.07 2,436,317.47 4,728,823.45 3,244,786.76 4,727,249.53 3,349,240.74 171.82 3,986.32 3,804.29 22,430,396.37 14,617,753.79 14,332,777.90 8,334,878.31 6,922,611.40 3,879,972.52 5,125,947.85 1,424,502.29 355,657,243.99 298,526,560.29 293,200,064.36 247,441,769.27 19

2005 355,657,243.99 298,526,560.29 293,200,064.36 247,441,769.27 67,625,525.18 70,951,340.84 201,330,000.00 150,330,000.00 201,330,000.00 150,330,000.00 370,632,555.86 3,000,000.00 370,632,555.86 3,000,000.00 34,198,016.21 34,198,016.21 31,733,003.47 31,733,003.47 11,399,338.74 11,399,338.74 10,577,667.83 10,577,667.83 109,540,080.66 143,838,962.01 112,564,998.31 148,101,237.03 715,700,652.73 331,366,978.22 716,260,557.64 333,164,240.50 1,138,983,421.90 700,844,879.35 1,009,460,622.00 580,606,009.77 2 ( ) 645,949,888.80 624,774,622.37 595,334,243.06 549,166,843.44 518,033,802.88 505,481,291.36 476,874,982.05 467,788,262.23 211,592.52 20,653.08 197,978.07 4,283.53 127,704,493.40 119,272,677.93 118,261,282.94 81,374,297.68 711,043.20-26,145.12 474,033.75 41,007.98 37,187,091.65 29,175,188.83 35,795,693.80 26,736,456.87 52,554,322.89 44,378,486.08 38,067,300.92 31,417,953.79 718,174.32 72,359.60 438,075.31-157,264.10 37,955,947.74 45,620,498.30 44,434,246.66 23,418,159.10-689,200.32 301,780.99-5,021,980.36 14,621,293.09 168,333.57 265,785.72 114,543.30 133,478.63 501,001.94 731,198.20 439,195.23 601,025.35 36,934,079.05 45,456,866.81 39,087,614.37 37,571,905.47 4,623,853.09 1,761,069.31 4,623,853.09 1,761,069.31-3,390,892.69 10,890,548.85 35,701,118.65 32,805,248.65 34,463,761.28 35,810,836.16 20

2005 143,838,962.01 75,569,548.38 148,101,237.03 76,705,347.76 179,540,080.66 108,374,797.03 182,564,998.31 112,516,183.92 179,540,080.66 108,374,797.03 182,564,998.31 112,516,183.92 70,000,000.00 70,000,000.00 109,540,080.66 108,374,797.03 112,564,998.31 112,516,183.92 1. 2. 3. 4. 5. 6. 3 585,399,767.68 551,585,987.86 5,159,751.44 4,892,351.63 7,195,661.41 14,108,438.21 597,755,180.53 570,586,777.70 432,885,008.10 453,394,582.19 62,969,991.75 37,571,025.14 21

2005 6,912,586.48 6,129,645.77 45,921,545.38 29,202,946.99 548,689,131.71 526,298,200.09 49,066,048.82 44,288,577.61 6,364,179.51 6,364,179.51 7,000.00 2,000.00 6,371,179.51 6,366,179.51 8,327,695.59 7,826,520.32 7,000,000.00 7,000,000.00 15,327,695.59 14,826,520.32-8,956,516.08-8,460,340.81 424,932,555.86 424,932,555.86 99,240,000.00 99,240,000.00 524,172,555.86 524,172,555.86 67,210,000.00 56,610,000.00 71,372,718.38 70,870,211.46 4,217,000.00 4,217,000.00 142,799,718.38 131,697,211.46 381,372,837.48 392,475,344.40 22

2005 215,166.22 365,210.08 421,697,536.44 428,668,791.28 1 35,701,118.65 34,463,761.28-3,390,892.69 21,659.03 21,659.03 11,645,611.95 4,929,960.49 384,369.36 384,369.36 85,000.02 85,000.02-394,095.08-508,942.73 2,913,768.41 3,636,424.53 244,958.89 241,238.87 58,552.28 1,446,677.14 734,237.73 689,200.32 5,021,980.36-9,924,756.43 2,355,371.87-12,687,717.85-7,504,133.67 22,272,594.82 427,650.47 49,066,048.82 44,288,577.61 2 23

2005 3 589,670,180.10 547,678,489.18 167,972,643.66 119,009,697.90 421,697,536.44 428,668,791.28 4 2004.12.31 2005.6.30. 4,115,814.77 21,659.03 39,963.08 39,963.08 4,097,510.72 3,015,167.59 21,659.03 3,036,826.62 1,100,647.18 39,963.08 39,963.08 1,060,684.10.. 2,602,677.86 47,054.77 47,054.77 2,555,623.09 1,045,363.83 47,054.77 47,054.77 998,309.06 617,394.25 617,394.25 19,180.71 19,180.71 920,739.07 920,739.07.. 1,983,037.07 1,834.20 1,834.20 1,981,202.87 593,543.01 1,834.20 1,834.20 591,708.81 1,389,494.06 1,389,494.06.... 8,701,529.70 21,659.03 88,852.05 88,852.05 8,634,336.68 5 24

2005. 2005.6.30 2004.12.31 150,330,000.00 150,330,000.00 51,000,000.00 51,000,000.00 201,330,000.00 150,330,000.00. : 3,000,000.00 367,632,555.86 3,000,000.00 367,632,555.86 3,000,000.00 370,632,555.86 3,000,000.00. : 22,798,677.47 12,553,421.27 10,245,256.20 10,245,256.20 10,245,256.20 22,798,677.47 22,798,677.47 22,798,677.47 22,798,677.47. : 11,399,338.74 6,276,710.64 5,122,628.10 5,122,628.10 25

2005 11,399,338.74 11,399,338.74. : 143,838,962.01 75,569,548.38 35,701,118.65 85,892,316.85 70,000,000.00 17,622,903.22 109,540,080.66 143,838,962.01 6 ( / ) 2005 1-6 17.84% 30.48% 0.63 0.80 5.30% 9.06% 0.19 0.24 4.99% 8.52% 0.18 0.22 5.21% 8.89% 0.19 0.23 2005 1-6 2001 1251 2001 1166 2001 12 31 15033 2003 2 9 [2005]16 2005 5 20 5100 A 8.60 (2005) 027 51,000,000.00 26

2005 367,632,555.86 2005 5 31 002047 1 2 1 1 12 31 3 4 5 6 7 8 27

2005 1% 5% 10% 30% 50% 80% 100% a. 9 b. 10 1 a b 28

2005 c d 20% 20% 20% 20% 2 3 11 2000 a. b. 29

2005 ( 10%) 20 4.5% 10 9% 5 18% 5 18% 5 18% 12 13 1), a. b. c. 2) a. b. 3) 3 30

2005 4) 14 10 a. 5 b. 5 c. 5 d. 10 15 a. b. 16 1 2 3 1 2 31

2005 17 18 19 50% 50% 17% 0% 5% 1% 7% 15% 1 2 2001 1 2002 3 17% 15% 13% 2003 222 32

2005 2004 1 1 13% USD1620 USD891 55 RMB100 RMB70 70 RMB500 RMB375 75% 1 2005-6-30 2004-12-31 601,138.82 1.00 601,138.82 379,513.61 1.00 379,513.61 138,170.22 1.06 190,980.43 96,567.20 1.06 102,766.81 2,825.62 8.28 23,370.85 6,291.61 8.28 52,072.51 815,490.10 534,352.93 568,781,928.95 1.00 568,781,928.95 131,950,377.31 1.00 131,950,377.31 8,742,399.66 1.06 9,266,943.66 22,372,092.31 1.06 23,808,380.64 1,305,608.13 8.28 10,805,817.39 1,409,959.86 8.28 11,669,532.78 588,854,690 167,428,290.73-10,000.00 1.00 10,000.00-10,000.00 10,000.00 589,670,180.10 167,972,643.66 2005 6 30 2004 12 31 251% 424,932,555.86 2 2005-6-30 2004-12-31 33

2005 3 154,368,660.23 83.98% 1,479,934.04 1% 150,879,057.27 83.08% 1,508,790.57 1% 3 1 29,366,557.74 15.97% 1,509,312.86 5% 30,536,351.73 16.82% 1,487,796.01 5% 1 2 85,005.94 0.05% 47,579.72 10% 185,810.15 0.10% 18,581.01 10% 2 3 - - - 30% - - - 30% 3 4 - - - 50% - - - 50% 4 5 - - - 80% - - - 80% 5 - - - 100% - - - 100% 183,820,223.91 100.00% 3,036,826.62 181,601,219.15 100.00% 3,015,167.59 1 5%( 5%).3 2 2005 6 30 155,421,846.18 84.55% 3 2005-6-30 2004-12-31 3 1,539,999.97 28.23% 15,400.00 1% 1,443,519.60 20.49% 14,435.20 1% 3 1 1,169,127.36 21.43% 58,456.37 5% 881,799.37 12.52% 44,089.97 5% 1 2 906,387.95 16.62% 90,638.80 10% 3,875,459.14 55.02% 387,545.91 10% 2 3 1,365,034.07 25.03% 444,923.02 30% 250,415.27 3.56% 115,181.07 30% 3 4 19,720.00 0.36% 9,860.00 50% 102,435.00 1.45% 51,217.50 50% 4 5 63,116.50 1.16% 50,493.20 80% 8,269.00 0.12% 6,615.20 80% 5 390,912.72 7.17% 390,912.72 100% 481,562.33 6.84% 481,562.33 100% 5,454,298.57 100.00% 1,060,684.10 7,043,459.71 100.00% 1,100,647.18 1 5%( 5%) 2 2005 6 30 1,478,563.93 27.11% 4 2005-6-30 2004-12-31 3 4,967,105.45 44.67% 2,982,555.75 51.72% 3 1 4,393,808.34 39.51% 1,375,859.80 23.86% 1 2 1,758,708.00 15.82% 1,208,000.00 20.95% 2 3 - - 200,475.00 3.47% 3 - - - - 34

2005 11,119,621.79 100.00% 5,766,890.55 100% 1 5%( 5%) 2 2005 6 30 6,371,276.43 57.30% 3 2005 6 30 2004 12 31 92.82% 5 2005-6-30 2004-12-31 5,637,323.53 1,591,019.54 5,637,323.53 1,591,019.54 2005 6 30 2004 12 31 254.32% 4-6 6 2005-6-30 2004-12-31 75,032,673.62 617,394.25 60,733,004.32 617,394.25 51,218,055.06 920,739.07 47,785,632.67 920,739.07 37,931,414.39 998,309.06 43,367,016.70 1,045,363.83 3,907,014.82 19,180.71 3,123,372.65 19,180.71 2,301,822.49-6,033,987.07-80,915.88 - - - 1,028,112.04-532,238.46-171,500,008.30 2,555,623.09 161,575,251.87 2,602,677.86 7 2004-12-31 2005-6-30 152,834.33 76,929.00 188,963.00 40,800.33 79,180.64 260,102.71 113,659.60 225,623.75 316,259.43 1,691,248.44 1,158,435.66 849,072.21-95,864.00 95,864.00 - - 35

2005 336,005.57-272,833.34 63,172.23 43,799.59 579,453.08 479,746.55 143,506.12 928,079.56 2,703,597.23 2,309,502.15 1,322,174.64 8 2004-12-31 2005-6-30 - - - - - - - - 1,930,321.16-20,283.60 1,910,037.56 1,930,321.16-20,283.60 1,910,037.56 - - - - 1,930,321.16 20,283.60 1,910,037.56 * 50 2,028,358.56 20,283.60 118,321.00 1,910,037.56 2,028,358.56 20,283.60 118,321.00 1,910,037.56 9 2004-12-31 2005-6-30 74,341,076.10 - - 74,341,076.10 127,028,784.96 4,993,982.44 1,287,733.11 130,735,034.29 37,106,993.65 2,533,854.01 821,107.31 38,819,740.35 2,647,354.71 196,991.44-2,844,346.15 16,292,050.12 92,990.34 124,271.18 16,260,769.28 257,416,259.54 7,817,818.23 2,233,111.60 263,000,966.17 12,770,597.01 620,919.80-13,391,516.81 42,668,067.68 5,706,177.61 726,808.62 47,647,436.67 16,247,043.26 3,175,634.58 604,726.62 18,817,951.22 1,545,488.97 168,077.18-1,713,566.15 6,558,673.22 2,165,137.13 111,106.06 8,612,704.29 79,789,870.14 11,835,946.30 1,442,641.30 90,183,175.14 36

2005 177,626,389.40 172,817,791.03 1,983,037.07 - - 1,981,202.87 1,389,494.06 - - 1,389,494.06 593,543.01 - - 591,708.81 175,643,352.33 170,836,588.16 1 2 379,147.23 3 8,122,023.47 10 2004-12-31 2005-6-30 281,200.94 359,606.31 379,147.23-261,660.02 281,200.94 359,606.31 379,147.23-261,660.02 1 2 2005 6 30 11 2004-12-31 2005-6-30 1,951,402.12 25,957.38-25,957.38 1,951,402.12-250,000.00 175,000.00-25,000.00 100,000.00 150,000.00 3 4,927,994.89 2,603,976.23 1,343,875.00 333,411.98 1,313,555.64 3,614,439.25 3.25 2,804,933.61 1,343,875.00 384,369.36 3,364,957.76 3,764,439.25 2005 6 30 12 2004-12-31 2005-6-30 ERP 850,000.00 424,999.90-85,000.02 510,000.12 339,999.88 2 424,999.90-85,000.02 510,000.12 339,999.88 13 2005-6-30 2004-12-31 37

2005 - - 30,000,000.00 31,926,000.00 12,000,000.00 99,240,000.00 3,000,000.00 24,829,500.00 - - 10,000,000.00 10,645,000.00 3,700,000.00 30,599,000.00 3,700,000.00 30,623,050.00 129,839,000.00 98,023,550.00 2005.04.08-2005.10.08 USD1,500,000.00 LIBOR+0.8% 2005.03.22-2005.09.21 USD2,500,000.00 LIBOR+0.8% 2005.04.28-2005.07.28 USD3,000,000.00 LIBOR+0.8% 2005.05.27-2005.08.27 USD5,000,000.00 LIBOR+0.8% 2005.03.23-2005.09.23 USD2,000,000.00 LIBOR+0.8% 2004.05.12-2005.11.12 USD1,700,000.00 LIBOR+0.8% 1 2 3 2005 6 30 2004 12 31 32.46% 14 1) 2005 6 30 177,234,668.23 5%( 5%) 2 15 1 2005 6 30 893,456.59 5%( 5%) 2 16 38

2005 2005 6 30 11,177,957.71 17 2005-6-30 2004-12-31 2,430,158.42 2,974,548.48 2,430,158.42 2,974,548.48 18 2005-6-30 2004-12-31 17% (275,739.88) (259,529.28) 5% 3,402.00-1% 7% 100,580.46-10% 4,872,630.52 3,446,587.85 27,411.21 54,000.82 539.14 - - 3,727.37 4,728,823.45 3,244,786.76 1 2 2005 6 30 2004 12 31 45.74% 19 1 2005 6 30 22,430,396.37 5%( 5%) 2 20 2005-6-30 2004-12-31 97,087.00 169,661.92 1,070,783.38 641,257.42 146,917.07 142,400.66 1,899,452.56 2,001,947.46 2,976,131.91 17,243.29 197,202.23-39

2005 24,363.84 291,567.00 132,000.00-293,173.41-85,500.00 615,894.77 6,922,611.40 3,879,972.52 2005 6 30 2004 12 31 78.42% 21 2004-12-31 2005-6-31 69,765,829.19 (3,354,004.19) - 66,411,825.00 (54,230.86) 54,230.86 - - (10,846.17) 10,846.17 - - PERFECT PARTNER ENTERPRISES LTD 1,250,588.68 (36,888.50) - 1,213,700.18 70,951,340.84 (3,325,815.66) - 67,625, 525.18 22 2005-6-30 2004-12-31 1. 150,330,000.00 150,330,000.00 - - 3,788,316.00 3,788,316.00 146,541,684.00 146,541,684.00 150,330,000.00 150,330,000.00-51,000,000.00-51,000,000.00-201,330,000.00 150,330,000.00 1 2001 12 2001 1251 2001 1166 150,330,000.00 2001 YA218 2 2003 2 9 40

2005 [2005]16 2005 5 20 5100 A 51,000,000.00 (2005) 027 23 2004-12-31 2005-6-310 3,000,000.00 - - 3,000,000.00-367,632,555.86-367,632,555.86 3,000,000.00 367,632,555.86-370,632,555.86 24 2004-12-31 2005-6-30 22,798,677.47 - - 22,798,677.47 11,399,338.74 - - 11,399,338.74 34,198,016.21 - - 34,198,016.21 25 2005-6-30 143,838,962.01 36,611,345.11 10% - 5% - 2% - 70,000,000.00-110,450,307.12 2005 2 26 2004 70,000,000.00 26 2005 1-6 -- 8,695,933.40 7,143,415.23 1,552,518.18 17.85% 637,253,955.40 510,890,387.65 126,363,567.74 19.83% 645,949,888.80 518,033,802.88 127,916,085.92 19.80% 41

2005 2005 1-6 396,206,623.35 61.34 2004 1-6 -- 12,613,125.65 10,111,042.87 2,502,082.78 19.84% 612,161,496.72 495,370,248.49 116,791,248.23 19.08% 624,774,622.37 505,481,291.36 119,293,331.01 19.09% 2004 1-6 488,979,127.06 78.26 27 2005 1-6 2004 1-6 1,665,804.17 838,629.35 708,147.83 204,076.39 149,414.85 634,066.26 368,541.88 1,209,878.63 (20,354.99) 13,619.01 718,174.32 72,359.60 2005 1-6 28 2005 1-6 2004 1-6 (603,839.69) 322,064.59 (85,360.63) (20,283.60) (65,077.03) - (20,283.60) (20,283.60) (689,200.32) 301,780.99 29 2005 1-6 2004 1-6 303,511.17 719,285.04 - - 1,575.30 301.57 42

2005 52,534.07-37,557.07-105,824.33 11,611.60 501,001.94 731,198.20 30 1 2005 1-6 59,460,906.53 2004 1-6 38,054,348.35 2 2005 1-6 2004 1-6 1,859,311.88 2,550,942.97 2,107,115.31 457,130.55 708,147.83 204,076.39-56,032.00 2,521,086.39 472,509.23 7,195,661.41 3,740,691.14 3 2005 1-6 2004 1-6 4,538,157.73 3,211,567.01 10,382,154.29 8,111,786.19 3,469,148.51 7,127,579.81 1,426,484.11 2,989,922.73 4,258,146.94 3,768,801.85 11,019,647.92 4,741,454.35 3,637,504.96 2,864,201.74 1,932,385.82 1,464,740.83 5,257,915.10 5,158,512.88 45,921,545.38 39,438,567.39 4 43

2005 4,217,000.00 1 2005-6-30 2004-12-31 3 138,664,644.47 82.50% 1,380,009.81 1% 138,679,263.79 82.01% 1,386,792.64 1% 3 1 29,339,840.43 17.45% 1,508,480.77 5% 30,234,502.26 17.88% 1,509,037.61 5% 1 2 85,005.94 0.05% 47,579.72 10% 185,810.15 0.11% 18,581.02 10% 2 3 - - - 30% - - - 30% 3 4 - - - 50% - - - 50% 4 5 - - - 80% - - - 80% 5 - - - 100% - - - 100% 168,089,490.84 100.00% 2,936,070.30 169,099,576.20 100% 2,914,411.27 1 5% ( 5%).3 2 150,652,583.88 89.63% 2 2005-6-30 2004-12-31 3 743,269.13 20.29% 7,432.69 1% 715,240.40 11.11% 7,152.40 1% 3 1 800,601.32 21.85% 40,030.07 5% 815,221.37 12.66% 40,761.07 5% 1 2 859,675.52 23.46% 85,967.55 10% 4,166,604.50 64.70% 389,393.01 10% 2 3 566,460.28 15.46% 169,938.08 30% 150,415.27 2.34% 45,124.58 30% 3 4 119,720.00 3.27% 119,860.00 50% 102,435.00 1.59% 51,217.50 50% 4 5 93,116.50 2.54% 77,721.90 80% 8,269.00 0.12% 6,615.20 80% 5 480,912.72 13.13% 480,912.72 100% 481,562.33 7.48% 481,562.33 100% 3,663,755.47 100.00% 981,863.01 6,439,747.87 100% 1,021,826.09 1 5%( 5%) 2 1,357,540.85 37.05% 3 2004-12-31 2005-6-30 44

2005 - - - - *A 93,480,249.92 (4,397,857.07) 89,082,392.85 *B 1,930,321.16-20,283.60 1,910,037.56 95,410,571.08 (4,397,857.07) 20,283.60 90,992,430.41 - - - - 95,410,571.08 90,992,430.41 *A 50 71,746,441.44 (4,099,338.46) 9,423,566.89-81,170,008.33 55% - 5 700,000.00 (187,853.11) (1,039,699.50) - (339,699.50) 70% - 50 3,750,000.00 (110,665.50) 4,502,084.02-8,252,084.02 75% 76,196,441.44 (4,397,857.07) 12,885,951.41-89,082,392.85 - *B 50 2,028,358.56 20,283.60 118,321.00 1,910,037.56 2,028,358.56 20,283.60 118,321.00 1,910,037.56 4 2005 1-6 -- 5,920,746.48 4,010,049.72 1,910,696.77 32.27% 589,413,496.58 472,864,932.33 116,548,564.24 19.77% 595,334,243.06 476,874,982.05 118,459,261.01 19.90% 2005 1-6 377,641,172.99 63.43 2004 1-6 -- 8,721,785.48 6,351,979.31 2,369,806.17 27.17% 540,445,057.96 461,436,282.92 79,008,775.04 14.62% 549,166,843.44 467,788,262.23 81,378,581.21 14.82% 45

2005 2004 1-6 435,086,089.54 79.23 5 2005 1-6 2004 1-6 (603,839.69) 322,064.59 (4,418,140.67) 14,299,228.50 (4,418,140.67) 14,299,228.50 ( ) (4,397,857.07) 14,319,512.10 (20,283.60) (20,283.60) (5,021,980.36) 14,621,293.09 1 1 GLOBE UNION INDUSTRIAL CORP. GLOBE UNION INDUSTRIAL (B.V.I) CORP. 2 2004-12-31 2005-6-30 GLOBE UNION INDUSTRIAL (B.V.I) CORP. USD1,600 - - USD1,600 USD1,620 - - USD1,620 RMB100 - - RMB100 RMB500 - - RMB500 3 2004-12-31 2005-6-30 RMB % RMB % RMB % RMB % GLOBE UNION INDUSTRIAL (B.V.I) CORP. 86,364,585.00 57.45 - - - - 86,364,585.00 42.90 46

2005 73,774,800.00 55 - - - - 73,774,800.00 55 700,000.00 70 - - - - 700,000.00 70 3,750,000.00 75 - - - - 3,750,000.00 75 4 - - - GLOBE UNION AMERICAN CORP. GLOBE UNION CANADA INC. GLOBE UNION (Bermuda)Ltd. - - - 2 1 2005 1-6 25,767,709.93 6.03% 3,542,224.670 0.55% GLOBE UNION INDUSTRIAL (B.V.I) CORP - - 66,646,979.80 10.35% GLOBE UNION (Bermuda)Ltd. - - 41,705,594.47 6.47% 2004 1-6 20,542,986.51 4.20% 6,791,964.37 1.09% GLOBE UNION INDUSTRIAL (B.V.I) CORP - - 73,308,964.88 11.73% a b 2 2005 1-6 2004 1-6 GLOBE UNION INDUSTRIAL (B.V.I) CORP. 2,796,723.42 0.68% 2,447,411.80 0.50% 47

2005 3 2005 1-6 2004 1-6 21,624.80 474,570.07 GLOBE UNION INDUSTRIAL (B.V.I) CORP. - 1,874,159.72 GLOBE UNION INDUSTRIAL CORP. - 2,707,342.42 4 ( ) 7000 2005 6 30 370 5 RMB 2005 1-6 2004 1-6 5 4 5 5 10 5 3 10 15 3 3 3 2005-6-30 2004-12-31 GLOBE UNION INDUSTRIAL (B.V.I) CORP 8,998,865.05 4.90% 10,964,521.71 6.04% GLOBE UNION AMERICAN CORP. - - 137,801.32 0.08% GLOBE UNION (Bermuda)Ltd. 45,060,103.63 24.51% 3,354,509.09 1.85% 13,233,703.05 7.46% 16,269,595.70 10.22% 475,054.94 2.12% 475,054.94 3.25% GLOBE UNION CANADA INC. 2,215,386.93 9.88% 1,019,553.35 6.97% GLOBE UNION AMERICAN CORP. 3,816,572.74 17.02% - - 2005 6 30 48

2005 2005 6 30 2005 6 30 2005 1-6 OO 49