( ) SHENZHEN TELLUS HOLDING CO.,LTD

2004 2 2 4 5 6 8 9 34 1

2004 1 ( ) Shenzhen Tellus Holding Co., Ltd. Tellus 2 ST A 000025 ST B 200025 3 56 518020 sztljtgf@public.szptt.net.cn 4 5 (0755)25536888-388 (0755)25536658 szryj@tom.com : ( ) : (0755)25536888-351 : (0755)25536658 szlmj@tom.com 6 http://www.cninfo.com.cn 56 3 2

2004 1 2004 % 653,117,678.27 744,066,875.38-12.22 924,694,917.09 1,016,972,318.76-9.07 1,180,293,595.18 1,274,704,955.23-7.41 208,806,513.67 211,162,165.06-1.12 0.948 0.959-1.15 0.067 0.024 179.17 1 6-2,931,330.65-3,509,940.66-3,333,822.34-2,703,860.50-0.013-0.016 +18.75% % -1.4-1.7 +0.3-83,725,379.44 72,499,505.48-215.48% ( ) 424,514.81 22,023.12 402,491.69 2 1 3

2004 2004 1-6 2003 1-6 657,166 603,787-2,931-3,510 202,512 192,409-0.013-0.016 0.919 0.873 % -1.45-1.82 % 17.16 14.80 2 2004 1-6 2003 1-6 657,166 603,787-2,931-3,510 1,180,294 1,308,688 208,807 200,763-0.013-0.016 0.948 0.911 % -1.40-1.75 % 17.69 15.34 2004 6 30 15,352 (%) 1 0 159,588,000 72 45 2 556,500 0.25 3 330,000 0.15 4 DBS VICKERS HONG KONG LTD A/C CLIENTS 261,100 0.12 5 248,087 0.11 4

2004 6 200,000 0.09 7 197,000 0.09 8 190,800 0.09 9 183,235 0.08 10 181,200 0.08 10 1 556,500 A 2 330,000 B 3 DBS VICKERS HONG KONG 261,100 B LTD A/C CLIENTS 4 248,087 A 5 200,000 A 6 197,000 A 7 190,800 A 8 183,235 A 9 181,200 B 10 175,821 B 5

2004 0 500 2004 6 8 2003 2003 1 1 65,717 60,379 5,338 8.84% 2 60,167 54,369 5,798 10.66% 3 5,413 5,994 581 9.69% 2,083 2,079 2,680 3,021 341 11.29% 650 894 244 27.29% 4 102 94 8-293 -351 58 2 1 2004 6 118 029 65 312 12 487 39 517 714 6

2004 2 2004 6 93 906 92 470 811 625 3 2004 6 24,124 20 881 3 243 2004 1 % % % % 41,361,214.30 31,861,321.18 22.97-9 -12 2.92 574,562,911.08 552,599,369.04 3.82 9 11-1.2 24,414,420.50 7,555,157.23 69.05 8 23 1.2 16,827,899.06 9 649 714.99 42.66 533.95 2,041.27 657 166 444 94 601,665,562.44 8.45 11 11-0.32 2 3 4 10% 5 7

2004 8 1 2 1 2 200 95% 1 2 3 ( ) ( ) ( )

2004 4 : 2003 12 31 2004 6 30 107,468,684.17 108,180,445.67 5 35% 2002 7 1 2 3 5% 5% 5% 1 2 2004 9

2004 1 7,942,911.02 265,627,895.03 5,019,034.78 155,189,543.46 2 0.00 0.00 0.00 0.00 3 0.00 2,000,000.00 0.00 27,000.00 4 493,070.89 0.00 0.00 0.00 5 0.00 0.00 0.00 0.00 6 242,401.54 27,762,352.33 242,401.54 33,833,776.17 7 204,790,821.06 210,641,253.12 199,197,430.21 213,208,309.14 8 80,000.00 88,259,056.04 91,834,243.62 9 0.00 0.00 0.00 0.00 10 176,646.58 149,617,406.32 232,085.58 157,843,913.01 11 0.00 158,912.54 22,500.00 1,180,892.87 12 13 14 213,725,851.09 744,066,875.38 204,713,452.11 653,117,678.27 15 356,892,957.10 120,899,294.65 355,400,912.19 124,752,782.72 16 121,300.00 121,300.00 17 356,892,957.10 121,020,594.65 355,400,912.19 124,874,082.72 18 19 182,482,315.49 550,198,906.72 183,960,719.76 551,869,859.80 20 45,545,608.55 144,796,717.00 48,295,983.95 153,465,923.55 21 136,936,706.94 405,402,189.72 135,664,735.81 398,403,936.25 22 3,555,385.70 3,581,154.01 3,555,385.70 3,581,154.01 23 133,381,321.24 401,821,035.71 132,109,350.11 394,822,782.24 24 25 0.00 344,002.00 26 0.00 27 133,381,321.24 401,821,035.71 132,109,350.11 395,166,784.24 28 1,386,701.73 1,386,701.73 1,361,208.27 1,361,208.27 29 1,815,908.36 6,409,747.76 1,504,972.79 5,773,841.68 30 2004 6 30 31 3,202,610.09 7,796,449.49 2,866,181.06 7,135,049.95 32 33 707,202,739.52 1,274,704,955.23 695,089,895.47 1,180,293,595.18 10

2004 34 331,948,348.85 434,388,348.85 320,448,513.05 413,248,513.05 35 272,092,300.00 140,479,900.00 36 1,554.00 45,833,320.25 1,554.00 96,323,892.04 37 63,548,683.40 57,688,212.77 38 8,300,459.55 5,713,100.73 39 1,449,423.99 7,344,335.96 1,169,523.62 6,477,060.87 40 41 844,111.83 2,205,518.75 1,518,687.31 395,858.72 42 364.17 6,591,212.94 2,274.53 6,627,205.28 43 134,699,668.95 139,975,837.80 135,794,682.71 158,171,131.76 44 2,008,702.67 11,603,901.26 2,484,728.17 14,481,641.87 45 25,088,400.00 25,088,400.00 25,088,400.00 25,088,400.00 46 47 48 496,040,574.46 1,016,972,318.76 486,508,363.39 924,694,917.09 49 50 51 8,365,096.20 8,114,096.20 52 53 2004 6 30 54 0.00 8,365,096.20 0.00 8,114,096.20 55 7,014,923.07 6,252,101.94 56 496,040,574.46 1,032,352,338.03 486,508,363.39 939,061,115.23 57 31,190,452.14 32,425,966.28 58 220,281,600.00 220,281,600.00 220,281,600.00 220,281,600.00 59 60 220,281,600.00 220,281,600.00 220,281,600.00 220,281,600.00 61 172,875,075.73 172,875,075.73 172,875,075.73 172,875,075.73 62 54,295,698.45 54,295,698.45 54,295,698.45 55,539,668.18 63 3,210,576.83 3,210,576.83 3,210,576.83 4,454,546.56 64-236,247,697.83-236,247,697.83-238,828,330.81-239,847,318.95 65 66-42,511.29-42,511.29-42,511.29-42,511.29 67 211,162,165.06 211,162,165.06 208,581,532.08 208,806,513.67 68 211,162,165.06 242,352,617.20 208,581,532.08 241,232,479.95 69 707,202,739.52 1,274,704,955.23 695,089,895.47 1,180,293,595.18 11

2004 2004 1-6 ( ) 1 6,697,567.82 657,166,444.94 6,817,467.37 603,786,971.53 2 1,765,523.39 601,665,562.44 1,390,731.71 543,690,192.70 3 348,273.52 2,820,159.86 354,508.29 1,774,912.88 4 4,583,770.91 52,680,722.64 5,072,227.37 58,321,865.95 5-56,359.16 1,126,758.52 1,843,810.61 6 20,832,994.55 20,789,041.12 7 8,804,681.43 26,795,724.44 6,745,323.08 30,214,192.69 8 4,341,083.08 6,498,105.78 5,978,329.89 8,941,129.39 9-8,618,352.76-319,343.61-7,651,425.60 221,313.36 10 5,428,119.90 940,919.90 5,464,889.43 765,266.52 11 12 3,254.83 424,514.81 76,199.53 540,032.98 13-158,914.40 22,023.12-29,339.63 586,330.85 14-3,028,063.63 1,024,067.98-2,080,997.01 940,282.01 15 1,291,207.74 1,491,531.46 16 2,664,190.89 2,958,691.21 17-3,028,063.63-2,931,330.65-2,080,997.01-3,509,940.66 18-236,247,697.83-236,247,697.83-241,422,761.26-241,422,761.26 19 447,430.65-668,290.47 447,430.65 749,761.28 20-238,828,330.81-239,847,318.95-243,056,327.62-244,182,940.64 21 22 23 24 25 26 27-238,828,330.81-239,847,318.95-243,056,327.62-244,182,940.64 28 29 30 31 32-238,828,330.81-239,847,318.95-243,056,327.62-244,182,940.64 12

2004 ( ) 2004 1-6 798,648,547.86 5,630,458.49 2,205,255.06 128,693,125.88 6,955,273.15 929,546,928.80 12,585,731.64 730,731,891.05 34,147,615.08 4,229,637.61 16,157,829.43 574,707.68 232,234,972.68 4,991,724.85 1,013,272,308.24 9,796,070.14-83,725,379.44 2,789,661.50 6,069,480.00 5,869,480.00 149,681.83 2,324,169.90 4,105,484.00 4,036,605.55 10,324,645.83 12,230,255.45 2,467,176.17 1,609,320.71 4,000,000.00 0.00 1,761,251.63 8,228,427.80 1,609,320.71 2,096,218.03 10,620,934.74 102,850,000.00 38,800,000.00 74,571.67 0.00 102,924,571.67 38,800,000.00 123,869,835.80 49,699,835.80 7,813,101.79 5,434,479.57 50,824.24 157.11 131,733,761.83 55,134,472.48-28,809,190.16-16,334,472.48-110,438,351.57-2,923,876.24 13

2004 1-2,931,330.65-3,028,063.63 2,664,190.89 66,635.35 9,051,860.64 2,776,161.76 1,627,011.03 387,442.49-958,866.76-22,500.00 2,896,233.65 476,025.50 0.00 0.00 6,525,900.95 4,341,083.08-40,919.90-5,428,119.90 762,821.13-6,314,411.02-55,439.00-19,465,484.52 12,875,282.27-77,624,475.23-9,532,211.07 15,455.00-83,725,379.44 2,789,661.50 2 ( ) 2004 1-6 3 155,189,543.46 5,019,034.78 265,627,895.03 7,942,911.02-110,438,351.57-2,923,876.24 14

2004 : 2004 6 : 74,546,650.39 20,288.70 4,508,355.20 70,058,583.89 : 33,530,598.78 20,288.70 1,000,000.00 32,550,887.48 41,016,051.61-3,508,355.20 37,507,696.41 - - : - - - - 17,367,383.85 17,367,383.85 : 12,472,087.52 12,472,087.52 2,568,525.87 2,568,525.87 2,326,770.46 - - 2,326,770.46 35,330,066.02-650,000.00 34,680,066.02 : 35,330,066.02-650,000.00 34,680,066.02-3,581,154.01-3,581,154.01 : 3,555,385.70 - - 3,555,385.70 25,768.31 - - 25,768.31 - - : - - - - - - - - - - - - - 15

2004 1. 2. 3. 4. 5. 6. 2004 6 (%) ( / ) 25.23 25.09 0.24 0.24-0.15-0.15-0.001-0.001-1.40-1.40-0.013-0.013-1.60-1.59-0.015-0.015 16

2004 1992 1850 1994 6 1993 6 1993 34 1993 22 1997 3 31 [1997]19 [1997]5 15958.8 72.45% 01141 098 1. 2. 1 1 12 31 3. 4. 5., 6. 7. 17

2004 8. :a., ;b. 3 3% 3 50%, 100% 9. 10. a. b. c. 20% 20%, 20% 20% 18

2004,,,. 11. a., 2000 b. c. d. ( 3%), 35 2.77% 12 8.08% 7 13.86% 7 13.86% 7 13.86% e. 12., 13.,, 14. a. : b. : 15., 19

2004 ( ):,,,, : 16. 17. 18. 50%, 50%,, 0% 17% 5% 5% 3% 3% 15%.1 2003.12.31 2004.06.30 RMB 1,269,620.13 1,269,620.13 420,547.37 1.0000 420,547.37 HKD 78,849.97 1.0684 84,246.39 95,942.48 1.0671 102,383.02 USD 2,860.61 8.2800 23,685.85 2,860.61 8.2800 23,685.85 JPY 520,680.00 0.0652 33,960.53 369,121.00 0.0641 23,676.02 20

2004 1,411,512.90 570,292.26 RMB 82,774,849.60 82,774,849.60 135,298,261.59 1.0000 135,298,261.59 HKD 464,405.75 1.0684 496,171.11 208,677.38 1.066 222,452.30 USD 35,569.75 8.2800 294,517.45 35,523.84 8.2800 294,137.31 JPY 23,528,282.00 0.0652 1,534,043.97 85,099,582.13 135,814,851.20 RMB 179,116,800.00 179,116,800.00 18,804,400.00 1.0000 18,804,400.00 265,627,895.03 155,189,543.46.2 2003.12.31 2004.06.30 1 16,052,935.60 26.19 481,588.07 13,579,434.09 20.46 205,259.08 1-2 3,235,207.74 5.28 97,056.23 12,175,879.41 18.34 320,923.29 2-3 663,022.80 1.08 19,890.68 1,407,637.21 2.12 61,991.51 3 41,341,784.97 67.45 32,932,063.80 39,221,712.94 59.08 31,962,713.60 61,292,951.11 100 33,530,598.78 66,384,663.65 100 32,550,887.48 5% 5%.3 2003.12.31 2004.6.30 1 25,482,172.93 10.13 648,288.05 7,237,330.77 2.89 464,546.38 1-2 3,672,612.83 1.46 62,560,71 13,471,537.27 5.37 1,373,291.06 2-3 8,639,784.25 3.43 147,464.47 14,730,700.70 5.88 261,132.77 3 213,862,734.72 84.98 40,157.738.38 215,276,436.81 85.86 35,408,726.20 251,657,304.73 100 41,016,051.62 250,716,005.55 100 37,507,696.41 5% 5% 3 17,664.9 71.88%.4 2003.12.31 2004.06.30 1 86,774,373.04 98.32 90,101,495.98 98.11 21

2004 1-2 1,055,033.00 1.20 1,253,297.64 1.36 2-3 429,650.00 0.48 50,650.00 0.06 3 428,800.00 0.47 88,259,056.04 100 91,834,243.62 100 5% 5%.5 2003.12.31 2004.06.30 10,590,380.34 2,754,848.20 9,205,973.82 2,754,848.20 4,150,550.25 -- 3,837,203.29 -- 85,987,344.08 12,285,765.19 119,295,728.06 12,285,765.19 2,336,986.34 -- -- 150.00 -- -- -- 41,422.54 882,789.74 -- 882,789.74 -- 63,036,589.42 2,326,770.46 41,948,179.41 2,326,770.46 166,984,790.17 17,367,383.85 175,211,296.86 17,367,383.85.6 42,712.79 73,724.31 19,804.85 96,632.25 -- 370,210.00 -- 370,210.00 225,868.70 94,038.61 131,830.09 0.00 354,404.29 108,878.34 245,525.95 116,199.75 808,101.85 587,607.02 336,694.58 158,912.54 1,832,309.15 810,328.82 1,180,892.87.7 * 156,229,360.67 3,243,488.07 40,000.00 159,432,848.74 : 142,075,560.41 3,243,488.07 40,000.00 145,279,048.48 10,631,796.29 -- -- 10,631,796.29 3,522,003.97 -- -- 3,522,003.97 22

2004 ** 121,300.00 -- -- 121,300.00 156,350,660.67 3,243,488.07 40,000.00 159,554,148.74 35,330,066.02 -- 650,000.00 34,680,066.02 121,020,594.65 124,874,082.72 * A. 123 0.148% 2,761,422.92 2,761,422.92 4.5 -- 60,581.05 60,581.05 ( ) 10 -- 700,000.00 700,000.00 3,522,003.97 3,522,003.97 B. 3,587,500.00 (145,511.93) 3,487,371.79 7,074,871.80 35.00 -- 2,000,000.00 -- 723,590.91 2,723,590.91 35.84 -- 562,000.00 -- -- 562,000.00 15.00 -- 6,500,000.00 4,000,000.0 3,784,968.52 10,284,968.52 46.10 -- 9,898,382.78 -- -- 9,898,382.78 28.00 -- 14,527,044.85 -- -- 14,527,044.85 25.00 -- 500,000.00 -- -- 500,000.00 15.00 500,000.00 17,849.20 -- -- 17,849.20 49.00 -- 3,359,743.02 -- -- 3,359,743.02 30.00 3,359,743.02 253,000.00 -- -- 253,000.00 45.00 82,000.00 400,000.00 -- -- 400,000.00 35.00 295,056.53 453,440.00 -- -- 453,440.00 15.00 166,434.89 1,320,000.00 -- -- 1,320,000.00 25.00 1,320,000.00 162,000.00 -- -- 162,000.00 -- 162,000.00 100,000.00 (100,000.00) (100,000.00) -- -- -- 640,000.00 -- -- 640,000.00 16.00 640,000.00 200,001.10 -- -- 200,001.10 -- 200,001.10 550,000.00 (550,000.00) (550,000.00) -- -- -- 23

2004-600,000.00 -- -- 600,000.00 -- 92,000.00 26,210,000.00 -- -- 26,210,000.00 25.89 -- 6,700,000.00 -- -- 6,700,000.00 100 6,700,000.00 2,250,000.00 -- -- 2,250,000.00 45.00 2,250,000.00 600,000.00 -- -- 600,000.00 6.25 600,000.00 205,000.00 -- -- 205,000.00 5.50 -- 11,963,636.02 -- (11,963,636.02) -- 100.00 -- 17,354,713.32 39,000.00 (2,181,750.43) 15,172,962.89 -- -- 2,400,000.00 (40,000.00) 6,453,667.26 8,853,667.26 50.00 -- 1,735,000.00 -- -- 1,735,000.00 15.54 -- 10,000,000.00 -- -- 10,000,000.00 5.30 -- 7,256,401.38 -- (2,470,770.56) 4,785,630.82 40.00 4,648,000.00 4,000,000.00 -- -- 4,000,000.00 12.50 4,000,000.00 6,900,000.00 -- (5,089,459.30) 1,810,540.70 36.55 1,800,000.00 1,000,000.00 -- 842,336.13 1,842,336.13 50.00 1,218,830.48 3,466,000.00 -- (1,510,000.00) 1,956,000.00 80.00 1,956,000.00 3,150,000.00 -- 75,000.00 3,225,000.00 45.00 3,225,000.00 825,000.00 -- -- 825,000.00 7.00 825,000.00 640,000.00 -- -- 640,000.00 -- 640,000.00 152,286,711.66 (651,000.00) (12,353,169.77) 139,933,541.89 34,680,066.02 191,204.75 1,543,926.67 10 -- 76,481.81 10 -- 617,570.65 1,483,845.97 10 -- 593,538.37 441,543.00 10 -- 176,617.20 (1,452,996.53) 10 -- (1,101,855.71) 16,118,334.60 10 -- 12,223,070.40 3,757,453.32 10 -- 2,849,402.10 (1,794,856.76) 10 -- (1,361,099.70) 227,925.81 10 -- 172,843.74 (394,376.87) 10 -- (299,069.12) 429,731.33 10 -- 325,879.60 (2,688,205.66) 10 -- (2,150,564.54) 17,863,529.63 -- 12,122,814.80 24

2004 21,300.00 -- 21,300.00 100,000.00 -- 100,000.00 121,300.00 -- 121,300.00.8 491,035,694.32 1,497,030.83 60,016.56 492,472,708.59 23,536,604.26 2,970,908.02 38,250.00 26,469,262.28 15,791,098.49 644,564.95 15,146,533.54 8,827,505.75 138,728.00 2,853,526.44 6,112,707.31 11,008,003.90 780,147.39 119,503.21 11,668,648.08 550,198,906.72 5,386,814.24 3,715,861.16 551,869,859.80 105,242,335.31 6,072,482.35 111,314,817.66 15,305,400.30 575,859.70 743.68 15,880,516.32 11,735,390.03 743,166.08 327,793.34 12,150,762.77 5,569,830.36 252,500.74 327,529.11 5,494,801.99 6,943,761.00 1,682,076.74 812.93 8,625,024.81 144,796,717.00 9,326,085.61 656,879.06 153,465,923.55 405,402,189.72 398,403,936.25 * 3,581,154.01 3,581,154.01 401,821,035.71 394,822,782.24 * 3,555,385.70 3,555,385.70 25,768.31 25,768.31 3,581,154.01 3,581,154.01 25

2004.9 1,699,998.80 1,361,208.27 -- -- -- 1,361,208.27 36 36,643.46 25,493.46 25,493.46 -- 3 1,736,642.26 1,386,701.73 -- 25,493.46- -- 1,361,208.27.10 5,373,217.0 5 213,277.61 1,027,644.86 4,558,849.80 908,825.41 338,644.17 106,547.28 1,140,922.30 127,705.30 51,013.46 104,649.18 74,069.58 6,409,747.76 602,935.24 1,238,841.32 5,773,841.68.11 2003.12.31 2004.6.30 RMB234,540,000.00 234,540,000.00 RMB220,381,000.00 220,381,000.00 HKD28,500,000.00 30,574,200.00 HKD13,500,000.00 14,474,700.00 USD6,000,000.00 49,672,800.00 USD6,000,000.00 49,672,800.00 RMB82,500,000.00 82,500,000.00 RMB90,760,000.00 90,760,000.00 HKD5,343,167.15 5,717,188.85 HKD19,314,348.65 20,715,853.05 RMB31,384,160.00 31,384,160.00 RMB17,244,160.00 17,244,160.00 434,388,348.85 413,248,513.05.12 2003.12.31 2004.6.30 272,092,300.00 140,479,900.00.13 5% 5%.14 5% 5%.15 26

2004.16 2003.12.31 2004.6.30 5%,3% 1,168,597.58-1,401,988.30 1% 11,970.76-11,491.05 15% 3,426,053.32 788,156.01 1.2% 1,962,169.11 2,710,677.68 17% (4,397,967.67) (2,462,522.00) 34,695.65 773,026.38 2,205,518.75 395,858.72.17 5% 5%.18 2003.12.31 2004.6.30 3% 95,483.85 131,476.19 6,495,729.09 6,495,729.09 6,591,212.94 6,627,205.28.19 2003.12.31 2004.6.30 5,087,876.79 5,672,091.27 739,220.27 445,569.01 858,654.72 1,876,424.13 2,279,680.00 3,310,956.90 626,216.16 800,000.00 -- 466,862.26 -- 328,351.00 -- 483,530.00 2,012,253.32 1,097,857.30 11,603,901.26 14,481,641.87.20 2003.12.31 2004.6.30 25,088,400.00 25,088,400.00 25,008,400.00 25,008,400.00 27

2004.21 2003.12.31 2004.6.30 2,456,247.80 2,405,247.80 2,588,848.40 2,588,848.40 3,320,000.00 3,120,000.00 8,365,096.20 8,114,096.20.22 7,014,923.07 -- 762,821.13 6,252,101.94 7,014,923.07 -- 762,821.13 6,252,101.94 76.28.23 159,596,550.00 -- -- -- -- -- -- 159,596,550.00 1. 159,588,000.00 -- -- -- -- -- -- 159,588,000.00 159,588,000.00 -- -- -- -- -- -- 159,588,000.00 2. 8,550.00 -- -- -- -- -- -- 8,550.00 60,685,050.00 -- -- -- -- -- -- 60,685,050.00 1. 34,285,050.00 -- -- -- -- -- -- 34,285,050.00 2. 26,400,000.00 -- -- -- -- -- -- 26,400,000.00 220,281,600.00 220,281,600.00.24 28

2004 166,646,999.40 -- 166,646,999.40 2,813,279.13 -- 2,813,279.13 1,640,691.14 -- 1,640,691.14 1,774,106.06 -- 1,774,106.06 172,875,075.73 -- 172,875,075.73 [2001]64.25. 15,277,750.90 -- -- 15,277,750.90 3,210,576.83 1,243,969.73 -- 4,454,546.56 35,807,370.72 -- -- 35,807,370.72 54,295,698.45 1,243,969.73 -- 55,539,668.18.26 2004 1-6 (2,931,330.65) (236,247,697.83) (668,290.47) (239,847,318.95).27. (42,511.29) -- -- (42,511.29).28 (RMB) (RMB) (RMB) 41,361,214.30 45,274,785.09 31,861,321.18 36,196,451.73 9,499,893.12 9,078,333.36 574,562,911.08 524,996,765.73 552,599,369.04 498,553,072.28 21,963,542.04 26,443,693.45 24,414,420.50 33,515,420.71 7,555,157.23 8,940,668.69 16,859,263.27 24,574,752.02 16,827,899.06 9,649,714.99 7,178,184.07 657,166,444.94 603,786,971.53 601,665,562.44 543,690,192.70 55,500,882.50 60,096,778.83 5,338, 8.84% 29

2004 87.43% 2004 1-6 2004 1-6 51,415.07 2004 1-6 7,875.41 3%.29 2003 1-6 2004 1-6 3% 5% 1,625,423.60 2,517,903.08 1% 36,408.90 101,968.18 3% 113,080.39 200,288.6 1,774,912.88 2,820,159.86.30 (RMB) (RMB) (RMB) (RMB) 2003 1-6 2004 1-6 2003 1-6 2004 1-6 2003 1-6 2004 1-6 2003 1-6 2004 1-6 4,678,806.03 3,674,405.23 2,997,809.10 2,385,196.39 190,675.12 166,968.48 1,468,493.24 1,122,240.36 1,294,757.27 1,252,355.81 1,822,414.02 1,612,879.02 67,420.02 65,122.51 (595,076.77) (425,645.72) 1,988,600.65 1,932,224.34 931,702.26 1,349,060.87 86,504.25 152,999.59 902,638.88 430,163.88 7,947,487.75 6,858,985.38 5,759,179.95 5,347,136.28 344,497.19 385,090.58 1,843,810.61 1,126,758.52.31 2003 1-6 2004 1-6 11,208,392.49 7,866,455.40 2,486,663.85 1,613,290.29 43,424.12 18,427.30 -- -- 130,122.63 226,513.37 8,941,129.39 6,498,105.78.32 30

2004 2003 1-6 2004 1-6 ----- 1,541,471.30 899,000.00 ----- (759,782.28) -- ----- -- 4,169.90 ----- (16,422.50) 37,750.00 765,266.52 940,919.90.33 2003 1-6 2004 1-6 22,814.32 61,996.18 200,398.00 60,000.00 316,820.66 302,518.63 540,032.98 424,514.81.34 2003 1-6 2004 1-6 93,267.54 33,506.32 7,909.41 299.96 173,983.43 31,965.60 311,170.47-43,748.76 586,330.85 22,023.12 1 2004-01-01 2004-06-30 3 484,803.08 242,401.54 484,803.08 242,401.54 484,803.08 242,401.54 484,803.08 242,401.54 5% 5% 2 2004-01-01 2004-06-30 1 16,279,521.14 375,738.15 7,947,144.01 375,738.15 1-2 9,968,212.11 1,156.04 12,800,123.28 1,156.04 2-3 9,296,427.39 81,979.01 9,210,777.50 81,979.01 3-176,306,184.05 6,600,650.43 176,298,909.05 6,600,650.43 211,850,344.69 7,059,523.63 206,256,953.84 7,059,523.63 31

2004 3 123 0.148% 700,000.00 700,000.00 4.5 -- 2,761,422.92 2,761,422.92 ( ) 10 -- 60,581.05 60,581.05 3,522,003.97 3,522,003.97 31,152,888.87 33,500.00 (13,883,148.12) 17,269,740.75 -- 11,963,636.02 -- (11,963,636.02) -- -- 57,672,885.22 (3,795,841.69) 31,940,027.58 89,612,912.80 -- 5,021,970.88 (222,700.00) 1,721,879.91 6,743,850.79 -- 10,708,622.90 (162,600.00) 3,024,385.85 13,733,008.75 -- 126,251,071.57 1,424,525.89 22,710,512.68 148,961,584.25 -- 17,354,713.32 39,000.00 (2,181,750.43) 15,172,962.89 -- 19,224,692.65 (1,139,852.63) 1,295,764.65 17,928,928.00 -- 1,000,000.00 (110,000.00) 136,961.93 1,136,961.93 -- 2,000,000.00 29,000.00 43,059.12 2,043,059.12 -- 205,000.00 -- -- 205,000.00 -- 2,400,000.00 (40,000.00) 6,453,667.26 8,853,667.26 -- 1,735,000.00 -- -- 1,735,000.00 -- 10,000,000.00 -- -- 10,000,000.00 -- 7,256,401.38 -- -2,470,770.56 4,785,630.82 4,648,000.00 4,000,000.00 -- -- 4,000,000.00 4,000,000.00 6,900,000.00 -- (5,089,459.30) 1,810,540.70 1,800,000.00 3,466,000.00 -- (1,510,000.00) 1,956,000.00 1,956,000.00 3,150,000.00 -- 75,000.00 3,225,000.00 3,225,000.00 1,807,411.52 2,452,923.52 2,452,923.52 4,260,335.04 -- ( )825,000.00 -- -- 825,000.00 825,000.00 640,000.00 -- -- 640,000.00 640,000.00 324,735,294.33 (1,492,044.91) 30,163,888.77 354,899,183.10 17,094,000.00 191,204.75 10 76,481.81 1,543,926.67 10 617,570.65 1,483,845.97 10 593,538.37 441,543.00 10 176,617.20 32

2004 (1,452,996.53) 10 (1,101,855.71) 16,118,334.60 10 12,223,070.40 3,757,453.32 10 2,849,402.10 (1,794,856.76) 10 (1,361,099.70) 24,210,105.93 14,073,725.12 4 2003 1-6 2004 1-6 4,948,361.93 5,387,200.00 532,950.00-1,000.00-16,422.50 37,750.00 4,169.90 5,464,889.43 5,428,119.90 1 <1> ( ) ( ). <2> 33

2004 ( ) 10,485 <3> RMB % RMB % RMB % RMB % ( ) 159,588,000.00 72.45 -- -- -- -- 159,588,000.00 72.45 32,900,000.00 100 -- -- -- -- 32,900,000.00 100 7,050,000.00 100 -- -- -- -- 7,050,000.00 100 31,150,000.00 100 -- -- -- -- 31,150,000.00 100 7,250,000.00 100 -- -- -- -- 7,250,000.00 100 58,960,000.00 100 -- -- -- -- 58,960,000.00 100 USD5,000,000.00 60 -- -- -- -- USD5,000,000.00 60 2,000,000.00 100 -- -- -- -- 2,000,000.00 100 20,000,000.00 90 20,000,000.00 90 3,000,000.00 90 3,000,000.00 90 12,000,000.00 46 12,000,000.00 46 <4> ( ) 3 1 1 34

2004 % 2003.12.31 20046.30 2003.12.31 2004.6.30 ( ) * 149,286,616.41 148,686,616.41 59.32 60.5 21,786,895.19 22,247,737.08 8.66 9.05 4,811,101.23 4,830,420.66 1.91 1.97 210,158.62 -- 0.08 -- 554,973.30 554,973.30 0.22 0.23 ( ) 298,932.27 329,691.07 0.12 0.13 219,522.35 230,522.35 0.09 0.09 177,168,199.37 176,879,960.87 70.4 71.97 ( ) 8,744,160.00 7,744,160.00 2.01 1.87 6,000,000.00 6,000,000.00 1.38 1.45 14,744,160.00 13,744,160.00 3.39 3.32 ( ) 45,153,248.50 45,153,248.50 32.95 28.55 2,395,526.25 2,395,526.25 1.75 1.51 1,095,742.50 1,095,742.50 0.80 0.69 255,982.49 255,982.49 0.19 0.16 48,900,499.74 48,900,499.74 35.71 30.92 6,054,855.46 6,054,855.46 13.21 6.29 (2) 2004 6 30 3600 RMB18,000,000.00 2003.08.16-2004.08.16 RMB8,000,000.00 2003.03.09-2004.03.29 RMB10,000,000.00 2003.08.19-2004.08.11 35

2004 36