上投摩根阿尔法股票型证券投资基金

2008 2008 12 31 2009 3 28

1 1.1 2009 3 27 2008 1 1 2008 12 31 1.2 1... 2 1.1... 2 1.2... 2 2... 4 2.1... 4 2.2... 4 2.3... 4 2.4... 4 2.5... 5 3... 5 3.1... 5 3.2... 5 3.3... 7 4... 7 4.1... 7 4.2... 8 4.3... 8 4.4... 9 4.5... 9 4.6... 9 4.7... 10 4.8... 10 5... 10 5.1... 10 5.2... 10 5.3... 10 6... 10 7... 12 7.1... 12 2

7.2... 13 7.3... 14 7.4... 15 8... 33 8.1... 33 8.2... 34 8.3... 35 8.4... 37 8.5... 38 8.6... 38 8.7... 39 8.8... 39 8.9... 39 9... 40 9.1... 40 9.2... 40 11... 40 11.1... 40 11.2... 41 11.3... 41 11.4... 41 11.5... 41 11.6... 41 11.7... 41 11.8... 42 12... 43 13... 43 3

2 2.1 377010 2005 10 11 2,089,358,790.42 2.2 (Barbell Approach) Dynamic Fund A 80 20 2.3 021-38794999 010-67595003 peter.zhu@jpmf-sitico.com yindong@ccb.cn 400-889-4888 021-38794888 010-67595096 021-68881170 010-66275853 99 20 25 99 20 1 1 200120 100140 2.4 4

www.51fund.com 2.5 202 11 99 20 3 3.1 3.1.1 2008 2007 2006-1,450,735,350.22 4,979,060,812.79 453,726,356.35-6,727,233,583.02 7,445,204,592.58 1,944,298,728.11-3.1317 3.7659 1.9029-67.63% 80.84% 105.90% -46.62% 139.91% 173.01% 3.1.2 2008 2007 2006 4,674,505,309.20 5,994,572,473.96 651,557,508.73 2.2373 2.9121 0.3707 7,226,414,025.63 13,337,891,687.80 4,746,987,323.25 3.4587 6.4794 2.7008 3.1.3 2008 2007 2006 256.68% 568.19% 178.52% 3.2 3.2.1-5.25% 2.11% -12.39% 2.42% 7.14% -0.31% -21.27% 2.01% -26.78% 2.40% 5.51% -0.39% -46.62% 2.12% -51.43% 2.45% 4.81% -0.33% 249.62% 1.80% 81.26% 1.90% 168.36% -0.10% - - - - - - 256.68% 1.73% 82.16% 1.84% 174.53% -0.11% 5

=80% A +20% 3.2.2 2005 10 11 2005 10 11 2008 12 31 2005 10 112006 4 10 3.2.3 6

2005 2005 10 11 2005 12 31 3.3 10 2008 - - - - - 2007 - - - - - 2006 0.400 27,140,860.23 3,022,065.31 30,162,925.54-0.400 27,140,860.23 3,022,065.31 30,162,925.54-4.1 4.1.1 4 2004 5 12 2007 10 8 1.5 2008 12 2004 9 15 1,669,305,034.88 2005 4 13 991,360,522.73 2005 10 11 767,620,088.15 2006 04 26 6,435,738,977.50 2006 09 20 5,480,692,618.04 2007 04 13 9,884,799,607.98 2007 10 22 29,572,160,439.53 2008 5 21 1,423,318,139.20 4.1.2 11 2005-11-15-1968 1992 1997 2003 2003 3 2005 6 7

2007-8-8-7 2005 11 2007 4 MBA 2004 1. 2. 4.2 4.3 4.3.1, 4.3.2 % -46.62-57.24-47.00 4.3.3 8

4.4 2008 4.81 4.5 09 4.6 1 2 A 3 4 9

5, 4.7 4.8 5 5.1 5.2 5.3 6 (2009) 20172 10

( ) 2008 12 31 2008 ( ) (1) (2) (3) 2008 12 31 2008 2009 3 26 11

7 7.1 2008 12 31 2008 12 31 2007 12 31 7.4.7.1 923,215,148.27 2,514,734,027.00 3,472,798.84 4,460,637.38 703,839.16 2,977,932.01 7.4.7.2 6,348,500,447.16 10,634,261,142.05 5,244,473,643.16 9,991,928,632.47 - - 1,104,026,804.00 642,332,509.58 - - 7.4.7.3-187,461,807.19 7.4.7.4 - - - 13,269,886.21 7.4.7.5 21,718,032.52 12,362,398.45 - - 3,317,267.90 103,965,592.16 - - 7.4.7.6 - - 7,300,927,533.85 13,473,493,422.45 2008 12 31 2007 12 31 - - - - 7.4.7.3 - - - - 5,224,938.67 85,361,472.15 55,537,127.14 27,449,748.24 9,334,476.79 14,269,331.11 1,555,746.14 2,378,221.84 - - 7.4.7.7 1,551,476.89 4,592,135.44 - - 12

- - - - - - 7.4.7.8 1,309,742.59 1,550,825.87 74,513,508.22 135,601,734.65 7.4.7.9 2,089,358,790.42 2,058,514,359.29 7.4.7.10 5,137,055,235.21 11,279,377,328.51 7,226,414,025.63 13,337,891,687.80 7,300,927,533.85 13,473,493,422.45 2008 12 31 3.4587 2,089,358,790.42 7.4 7.2 2008 1 1 2008 12 31 2008 1 1 2008 12 31 2007 1 1 2007 12 31-6,517,149,106.53 7,683,278,025.41 1. 36,654,013.14 21,015,771.49 7.4.7.11 10,443,161.21 7,580,157.80 26,210,851.93 13,435,613.69 - - - - - - 2. - -1,282,906,180.74 5,184,733,900.86 7.4.7.12-1,404,623,863.34 5,058,648,944.56 - - 7.4.7.13 5,855,213.96 32,790,123.24 - - 7.4.7.14 46,957,553.87 43,126,831.85 7.4.7.15 68,904,914.77 50,168,001.21 3. - 7.4.7.16-5,276,498,232.80 2,466,143,779.79 4. - - 5. - 7.4.7.17 5,601,293.87 11,384,573.27 - -210,084,476.49-238,073,432.83 13

1-150,298,537.10-137,028,372.09 2-25,049,756.26-22,838,062.00 3 - - 4 7.4.7.18-30,353,996.16-71,231,327.17 5-3,860,165.16-6,452,894.82-3,860,165.16-6,452,894.82 6 7.4.7.19-522,021.81-522,776.75 - -6,727,233,583.02 7,445,204,592.58 - - - - -6,727,233,583.02 7,445,204,592.58 7.4 7.3 2008 1 1 2008 12 31 2008 1 1 2008 12 31 2,058,514,359.29 11,279,377,328.51 13,337,891,687.80 - -6,727,233,583.02-6,727,233,583.02 30,844,431.13 584,911,489.72 615,755,920.85-1. 1,187,710,562.84 4,493,441,084.17 5,681,151,647.01 2. ( - ) -1,156,866,131.71-3,908,529,594.45-5,065,395,726.16 - - - - 2,089,358,790.42 5,137,055,235.21 7,226,414,025.63 2007 1 1 2007 12 31 1,757,654,301.90 2,989,333,021.35 4,746,987,323.25-7,445,204,592.58 7,445,204,592.58 300,860,057.39 844,839,714.58 1,145,699,771.97-1. 2,588,289,402.87 8,001,980,287.71 10,590,269,690.58 14

2. ( - ) -2,287,429,345.48-7,157,140,573.13-9,444,569,918.61 - - - - 2,058,514,359.29 11,279,377,328.51 13,337,891,687.80 7.4 7.4 7.4.1 ( )( ) [2005] 155 ( ) 767,319,308.57 (2005) 150 2005 10 11 767,620,088.15 300,779.58 60% - 95% 5% - 40% 5% A X 80% X 20% 2009 3 26 7.4.2 2006 2 15 38 ( ) [2009]4 XBRL 3 <> 2007 5 15 7.4.4 7.4.3 2008 2008 12 31 2008 15

7.4.4 7.4.4.1 1 1 12 31 7.4.4.2 7.4.4.3 (1) ( ) (2) 7.4.4.4 7.4.4.5 ( ) 16

(1) (2) (3) 7.4.4.6 7.4.4.7 7.4.4.8 /() 7.4.4.9 /() 7.4.4.10 17

7.4.4.11 ( ) ( ) 7.4.4.12 (1) (2) (a) 2008 9 16 [2008]38 2008 9 16 (b)[2006]37 7.4.5 7.4.5.1 7.4.5.2 18

[2008]38 2008 9 16 2008 9 16 87,851,171.32 87,851,171.32 87,851,171.32 7.4.5.3 7.4.6 [2002]128 [2004]78 [2005]102 [2005]103 (1) (2) (3) 20% 50% 20% (4) 2008 4 24 0.3% 2008 4 24 2008 9 18 0.1% 2008 9 19 0.1% (5) 7.4.7 7.4.7.1 2008 12 31 2007 12 31 923,215,148.27 2,514,734,027.00 - - - - 923,215,148.27 2,514,734,027.00 7.4.7.2 19

2008 12 31 6,557,756,710.19 5,244,473,643.16-1,313,283,067.03 16,333,848.64 16,798,304.00 464,455.36 1,073,334,643.20 1,087,228,500.00 13,893,856.80 1,089,668,491.84 1,104,026,804.00 14,358,312.16 - - - - - - - - - 7,647,425,202.03 6,348,500,447.16-1,298,924,754.87 2007 12 31 6,145,435,418.43 9,991,928,632.47 3,846,493,214.04 52,947,801.34 72,667,509.58 19,719,708.24 569,664,595.89 569,665,000.00 404.11 622,612,397.23 642,332,509.58 19,720,112.35 - - - - - - - - - 6,768,047,815.66 10,634,261,142.05 3,866,213,326.39 : 1. 2008 12 31 177,374,078.88 (2007 12 31 ) 94,819,243.60 (2007 ) 2. 13,893,452.69 (2007 404.11 ) 7.4.7.3 / 2008 12 31 - - - 20

- - - - - - - - - - - - 2007 12 31 - - - () - - - - 187,461,807.19-76,101,655.65 - - - - 187,461,807.19-7.4.7.4 7.4.7.5 2008 12 31 2007 12 31 237,914.38 669,480.57 - - - - 1,684.24 2,208.03 21,478,288.15 11,669,195.76 - - 113.42 21,481.09 32.33 33.00 21,718,032.52 12,362,398.45 7.4.7.6 21

7.4.7.7 2008 12 31 2007 12 31 1,547,639.39 4,586,750.04 3,837.50 5,385.40 1,551,476.89 4,592,135.44 7.4.7.8 2008 12 31 2007 12 31 1,000,000.00 1,000,000.00 149,742.59 100,825.87 160,000.00 450,000.00 1,309,742.59 1,550,825.87 7.4.7.9 2008 1 1 2008 12 31 2,058,514,359.29 2,058,514,359.29 1,187,710,562.84 1,187,710,562.84-1,156,866,131.71-1,156,866,131.71 2,089,358,790.42 2,089,358,790.42 : 7.4.7.10 5,994,572,473.96 5,284,804,854.55 11,279,377,328.51-1,450,735,350.22-5,276,498,232.80-6,727,233,583.02 130,668,185.46 454,243,304.26 584,911,489.72 3,288,326,658.33 1,205,114,425.84 4,493,441,084.17-3,157,658,472.87-750,871,121.58-3,908,529,594.45 - - - 4,674,505,309.20 462,549,926.01 5,137,055,235.21 7.4.7.11 22

2008 1 1 2008 12 31 2007 1 1 2007 12 31 10,267,570.61 7,402,520.57 - - - - 86,822.06 130,072.16 88,768.54 47,565.07 10,443,161.21 7,580,157.80 7.4.7.12 2008 1 1 2008 2007 1 1 2007 12 31 12 31 4,839,102,274.62 11,637,576,379.96-6,243,726,137.96-6,578,927,435.40-1,404,623,863.34 5,058,648,944.56 7.4.7.13 2008 1 12008 12 31 2007 1 12007 12 31 2,272,024,879.94 634,056,080.26-2,226,983,769.00-588,803,767.64-39,185,896.98-12,462,189.38 5,855,213.96 32,790,123.24 7.4.7.14 2008 1 12008 12 31 2007 1 12007 12 31 146,677,723.54 209,765,274.54-99,720,169.67-166,638,442.69 46,957,553.87 43,126,831.85 : 7.4.7.15 23

2008 1 12008 12 31 2007 1 12007 12 31 68,904,914.77 50,168,001.21 - - 68,904,914.77 50,168,001.21 7.4.7.16 2008 1 12008 12 31 2007 1 12007 12 31 1. -5,165,138,081.26 2,367,393,472.09-5,159,776,281.07 2,347,673,359.74-5,361,800.19 19,720,112.35 - - - - 2. -111,360,151.54 98,750,307.70-111,360,151.54 98,750,307.70 3. - - -5,276,498,232.80 2,466,143,779.79 7.4.7.17 2008 1 12008 12 31 2007 1 12007 12 31 4,302,057.80 8,877,328.84 1,282,086.15 2,507,244.43 17,149.92-5,601,293.87 11,384,573.27 1. 25% 2. 25% 7.4.7.18 2008 1 12008 12 31 2007 1 12007 12 31 30,340,758.66 71,226,077.17 13,237.50 5,250.00 30,353,996.16 71,231,327.17 7.4.7.19 24

2008 1 1 2008 12 31 2007 1 1 2007 12 31 300,000.00 300,000.00 160,000.00 150,000.00 44,021.81 54,776.75 18,000.00 18,000.00 - - 522,021.81 522,776.75 7.4.8 7.4.8.1 7.4.8.2 7.4.9 ( ) ( ) () ( ) ( ) ( ) 7.4.10 7.4.10.1 7.4.10.1.1 2008 1 12008 12 31 2007 1 12007 12 31 3,513,071,634.19 33.41% 7,291,514,237.05 34.07% 7.4.10.1.2 25

2008 1 12008 12 31 2007 1 12007 12 31 3,487,771.57 7.94% 17,277,275.12 5.27% 7.4.10.1.3 2008 1 12008 12 31 2,986,088.55 33.91% 729,855.57 47.16% 2007 1 12007 12 31 5,979,043.96 34.34% 1,771,645.31 38.63% : 1. 2. 7.4.10.2 7.4.10.2.1 2008 1 12008 12 31 2007 1 12007 12 31 150,298,537.10 137,028,372.09 140,964,060.31 122,759,040.98 9,334,476.79 14,269,331.11 : 1.50% X 1.50% / 7.4.10.2.2 2008 1 12008 12 31 2007 1 12007 12 31 26

25,049,756.26 22,838,062.00 23,494,010.12 20,459,840.16 1,555,746.14 2,378,221.84 0.25% X 0.25% / 7.4.10.3 ( ) 2008 1 1 2008 12 31 - - - - 1,377,500,000.00 843,490.93 138,729,552.79 - - - - - 2007 1 1 2007 12 31 - - - - 368,200,000.00 318,513.94 - - - - - - 7.4.10.4 7.4.10.4.1 7.4.10.4.2 2008 12 31 2007 12 31 20,008,000.00 0.96% 20,008,000.00 0.97% 7.4.10.5 2008 1 12008 12 31 2007 1 12007 12 31 27

923,215,148.27 10,267,570.61 2,514,734,027.00 7,402,520.57 : 7.4.10.6 2008 1 1 2008 12 31 / 115003 08 416,369 41,636,900.00 126012 08 92,970 9,297,000.00 002242 47,488 1,070,379.52 2007 1 1 2007 12 31 / 600299 900,000 35,154,000.00 601918 237,000 1,393,560.00 601918 189,900 1,116,612.00 600320 121 3,518.68 7.4.11 7.4.12 2008 12 31 7.4.12.1 / 1. 12 600547 08/01/28 09/01/25 110.93 48.56 900,000 99,837,000.00 43,704,000.00 600547 08/05/21 09/01/25-48.56 900,000-43,704,000.00 002257 08/06/30 21.81 21.81 13,000 283,530.00 283,530.00 2. 2008 7 7 28

7.4.12.2 000792 08/06/26 56.78 08/12/26 78.23 2,726,196 60,985,546.72 154,793,408.88 600900 08/05/08 7.35 3,072,200 30,333,782.21 22,580,670.00 : 1. 2008 12 31 2. 2008 12 26 2008 12 31 2008 12 31 2009 1 8 37.99 7.4.12.3 7.4.12.3.1 7.4.12.3.2 7.4.13 7.4.13.1 29

7.4.13.2 10% 10% 7.4.13.3 30

( ) 7.4.13.4 7.4.13.4.1 7.4.13.4.1.1 2008 12 31 1 1 5 5 923,215,148.27 - - - 923,215,148.27 3,472,798.84 - - - 3,472,798.84 66,666.00 - - 637,173.16 703,839.16 929,933,500.00 146,061,046.00 28,032,258.00 5,244,473,643.16 6,348,500,447.16 - - - 21,718,032.52 21,718,032.52 201,673.79 - - 3,115,594.11 3,317,267.90 1,856,889,786.90 146,061,046.00 28,032,258.00 5,269,944,442.95 7,300,927,533.85 - - - 5,224,938.67 5,224,938.67 31

- - - 55,537,127.14 55,537,127.14 - - - 9,334,476.79 9,334,476.79 - - - 1,555,746.14 1,555,746.14 - - - 1,551,476.89 1,551,476.89 - - - 1,309,742.59 1,309,742.59 - - - 74,513,508.22 74,513,508.22 1,856,889,786.90 146,061,046.00 28,032,258.00 5,195,430,934.73 7,226,414,025.63 2007 12 31 1 1 5 5 2,514,734,027.00 - - - 2,514,734,027.00 4,460,637.38 - - - 4,460,637.38 66,666.00 - - 2,911,266.01 2,977,932.01 569,665,000.00 56,646,057.58 16,021,452.00 9,991,928,632.47 10,634,261,142.05 - - - 187,461,807.19 187,461,807.19 - - - 13,269,886.21 13,269,886.21 - - - 12,362,398.45 12,362,398.45 48,352,887.74 - - 55,612,704.42 103,965,592.16 3,137,279,218.12 56,646,057.58 16,021,452.00 10,263,546,694.75 13,473,493,422.45 - - - 85,361,472.15 85,361,472.15 - - - 27,449,748.24 27,449,748.24 - - - 14,269,331.11 14,269,331.11 - - - 2,378,221.84 2,378,221.84 - - - 4,592,135.44 4,592,135.44 - - - 1,550,825.87 1,550,825.87 - - - 135,601,734.65 135,601,734.65 3,137,279,218.12 56,646,057.58 16,021,452.00 10,127,944,960.10 13,337,891,687.80 7.4.13.4.1.2 2008 12 31 15.28%(2007 12 31 4.82%) 7.4.13.4.2 7.4.13.4.3 32

VaR(Value at Risk) 60%- 95% 5%- 40% 5% 2008 12 31 7.4.13.4.3.1 2008 12 31 2007 12 31 % % - 5,244,473,643.16 72.57 9,991,928,632.47 74.91 - - 187,461,807.19 1.41 - - - - 5,244,473,643.16 72.57 10,179,390,439.66 76.32 7.4.13.4.3.2 A 2008 12 31 2007 12 31 1. A 5% 23,467 43,717 2. A 5% 23,467 43,717 7.4.14 8 8.1 % 33

1 5,244,473,643.16 71.83 5,244,473,643.16 71.83 2 1,104,026,804.00 15.12 1,104,026,804.00 15.12 - - 3 - - 4 - - - - 5 926,687,947.11 12.69 6 25,739,139.58 0.35 7 7,300,927,533.85 100.00 2008 12 31 7,226,414,025.63 3.4587 3.4987 8.2 A - - B 385,048,237.38 5.33 C 3,033,158,729.38 41.97 C0 848,905,632.64 11.75 C1 - - C2 - - C3 - - C4 221,920,885.28 3.07 C5 102,314,538.30 1.42 C6 323,251,527.66 4.47 C7 1,244,569,577.39 17.22 C8 292,196,568.11 4.04 C99 - - D 30,558,041.22 0.42 E 82,112,699.93 1.14 F 1,673,419.38 0.02 G 334,480,300.01 4.63 H 368,921,673.00 5.11 I 853,440,186.64 11.81 J 173,078.46 0.00 K 4,248,577.48 0.06 L - - M 150,658,700.28 2.08 34

5,244,473,643.16 72.57 8.3 1 600089 22,439,784 535,862,041.92 7.42 2 600519 4,907,533 533,448,837.10 7.38 3 600036 35,223,364 428,316,106.24 5.93 4 000063 12,181,584 331,339,084.80 4.59 5 600517 12,249,532 274,267,021.48 3.80 6 000425 15,883,704 246,991,597.20 3.42 7 601398 64,800,729 229,394,580.66 3.17 8 000895 4,810,962 165,881,969.76 2.30 9 000759 17,260,179 162,245,682.60 2.25 10 000792 2,726,196 154,793,408.88 2.14 11 000999 10,642,472 153,783,720.40 2.13 12 600858 9,180,908 150,658,700.28 2.08 13 000983 9,950,910 116,027,610.60 1.61 14 002007 2,920,631 112,444,293.50 1.56 15 600729 7,800,834 111,473,917.86 1.54 16 601318 4,002,251 106,419,854.09 1.47 17 002008 17,441,198 102,031,008.30 1.41 18 600585 3,563,503 92,401,632.79 1.28 19 600547 1,800,530 87,433,736.80 1.21 20 002255 5,055,074 84,824,141.72 1.17 21 601088 4,543,748 79,697,339.92 1.10 22 000858 5,778,367 77,083,415.78 1.07 23 000568 3,982,927 72,489,271.40 1.00 24 600395 5,999,782 70,437,440.68 0.97 25 600019 14,979,275 69,503,836.00 0.96 26 601186 6,087,500 61,118,500.00 0.85 27 601328 12,088,675 57,300,319.50 0.79 28 600582 4,172,568 57,080,730.24 0.79 29 000898 8,143,621 56,598,165.95 0.78 30 000709 14,849,562 54,794,883.78 0.76 31 002251 1,158,331 48,765,735.10 0.67 32 600697 2,956,277 42,718,202.65 0.59 33 600315 1,443,346 40,456,988.38 0.56 34 600031 2,281,749 31,967,303.49 0.44 35 600028 4,222,504 29,641,978.08 0.41 36 601166 2,000,659 29,209,621.40 0.40 37 600426 2,462,582 26,127,995.02 0.36 35

38 600005 5,046,512 24,122,327.36 0.33 39 600900 3,072,200 22,580,670.00 0.31 40 600266 2,994,893 20,994,199.93 0.29 41 600557 981,625 16,775,971.25 0.23 42 600456 1,407,974 16,022,744.12 0.22 43 002266 492,400 10,281,312.00 0.14 44 600001 3,000,000 9,750,000.00 0.13 45 600276 229,164 8,825,105.64 0.12 46 600795 1,412,842 7,869,529.94 0.11 47 000069 519,386 4,248,577.48 0.06 48 600875 109,882 3,275,582.42 0.05 49 002269 103,112 2,856,202.40 0.04 50 601628 146,000 2,722,900.00 0.04 51 600406 116,839 2,382,347.21 0.03 52 601808 140,184 1,666,787.76 0.02 53 600377 254,125 1,382,440.00 0.02 54 002024 47,170 844,814.70 0.01 55 600588 34,494 758,868.00 0.01 56 600688 S 98,100 542,493.00 0.01 57 002022 15,750 366,975.00 0.01 58 002257 13,000 283,530.00 0.00 59 601111 67,290 275,889.00 0.00 60 600048 9,402 135,388.80 0.00 61 600011 15,584 107,841.28 0.00 62 601857 8,690 88,377.30 0.00 63 600030 4,224 75,905.28 0.00 64 600660 14,894 57,937.66 0.00 65 600489 1,476 54,966.24 0.00 66 600325 2,239 20,822.70 0.00 67 000024 1,203 15,783.36 0.00 68 600320 1,884 15,392.28 0.00 69 600825 1,205 15,339.65 0.00 70 601006 916 7,346.32 0.00 71 601919 521 3,907.50 0.00 72 600717 442 3,836.56 0.00 73 600312 272 3,740.00 0.00 74 600600 90 1,799.10 0.00 75 600631 196 1,664.04 0.00 76 000002 168 1,083.60 0.00 77 600016 221 899.47 0.00 78 600607 42 502.32 0.00 79 600104 69 369.84 0.00 36

80 601766 80 344.80 0.00 81 000869 7 339.50 0.00 82 600859 6 114.00 0.00 8.4 8.4.1 2% 20 (%) 1 600036 486,049,113.28 3.64 2 600089 433,933,597.88 3.25 3 601398 414,503,318.69 3.11 4 600585 409,376,060.50 3.07 5 000425 407,122,403.71 3.05 6 600016 331,195,514.57 2.48 7 601318 263,678,623.92 1.98 8 000063 215,154,548.78 1.61 9 600547 213,013,906.14 1.60 10 000983 204,549,601.47 1.53 11 000002 203,839,663.68 1.53 12 601088 202,129,203.79 1.52 13 600729 179,741,779.12 1.35 14 000709 177,128,740.01 1.33 15 002008 158,328,972.32 1.19 16 600028 157,340,938.53 1.18 17 600426 156,372,446.88 1.17 18 000858 150,524,033.18 1.13 19 000999 132,121,996.58 0.99 20 000758 125,459,481.29 0.94 8.4.2 2% 20 () 1 600016 266,168,484.81 2.00 2 000063 247,143,101.63 1.85 3 600825 202,053,288.55 1.51 4 600299 190,601,155.16 1.43 5 600761 188,939,566.74 1.42 6 000968 137,768,429.57 1.03 7 600585 137,574,503.61 1.03 8 000002 137,060,292.97 1.03 37

9 600409 122,226,061.31 0.92 10 601318 120,132,484.90 0.90 11 601166 110,915,253.37 0.83 12 000829 110,613,992.01 0.83 13 601398 110,382,613.35 0.83 14 600519 102,999,621.04 0.77 15 600104 95,718,793.02 0.72 16 600694 94,077,346.97 0.71 17 600660 93,776,462.42 0.70 18 600011 92,396,559.75 0.69 19 600028 85,617,451.14 0.64 20 600030 84,147,261.90 0.63 8.4.3 6,656,047,429.72 4,839,102,274.62 8.5 1 - - 2 929,933,500.00 12.87 3 157,295,000.00 2.18 157,295,000.00 2.18 4 7,022,258.00 0.10 5 - - 6 9,776,046.00 0.14 7 - - 8 1,104,026,804.00 15.28 8.6 1 0801084 08 84 1,700,000 166,039,000.00 2.30 2 0801034 08 34 1,350,000 130,639,500.00 1.81 3 0801104 08 104 1,000,000 98,050,000.00 1.36 4 0801095 08 95 1,000,000 97,890,000.00 1.35 5 0801078 08 78 1,000,000 97,570,000.00 1.35 38

8.7 8.8 8.9 8.9.1 0000632008 10 7 2007 2007 16 380 2007 8.9.2 8.9.3 1 703,839.16 2-3 - 4 21,718,032.52 5 3,317,267.90 6-7 - 8-9 25,739,139.58 8.9.4 8.9.5 % 39

1 000792 154,793,408.88 2.14 2008 12 26 2008 12 31 2008 12 31 2009 1 8 37.99 8.9.6 9.1 ( ) 9 175,926 11,876.35 790,032,128.54 37.81% 1,299,326,661.88 62.19% 9.2 128,877.91 0.01% 10 2005 10 11 767,620,088.15 2,058,514,359.29 1,187,710,562.84 1,156,866,131.71 - - 2,089,358,790.42 11.1 11 40

11.2 : 2008 11 12 90 : 2008 6 13 11.3 2008 7 14, 2009 2 3 [2009] 0022 11.4 11.5 2007 150,000 3 11.6 11.7 1 1,239,709,375.20 11.79% 1,053,758.32 11.97% - 1 1,593,121,295.12 15.15% 1,354,154.61 15.38% - 1 3,513,071,634.19 33.41% 2,986,088.55 33.91% - 1 101,417,134.75 0.96% 82,402.62 0.94% - 1 1,602,652,762.83 15.24% 1,302,172.99 14.79% - 1 666,080,169.94 6.33% 566,172.31 6.43% - 1 1,799,131,844.24 17.11% 1,461,810.00 16.60% - 1 - - - - - 1 - - - - - 41

9 10,515,184,216.27 100% 8,806,559.40 100% - 6,575,162.78 4.46% 9,199,043.78 20.95% 16,965,558.50 11.51% 8,163,165.62 18.59% 6,147,957.00 4.17% 3,487,771.57 7.94% - - - - 73,337,860.31 49.74% 12,161,932.34 27.70% 37,740,877.20 25.60% 10,896,442.83 24.82% 6,664,523.69 4.52% - - - - - - - - - - 147,431,939.48 100% 43,908,356.14 100% 1. 2. 3. 4.2008, 11.8 1. 2008 1 17 2. 600547 2008 1 30 3. 2008 3 17 4. 2008 5 17 5. 2008 9 16 6. 2008 9 17 7. 2008 11 12 8. 2008 12 27 42

9. 2008 12 31 12 1 2008 5 27 2005 6 17 2 2008 9 23 3 2008 11 17 4 2008 12 2 13 1. 2. 3. 4. 5. 6. www.51fund.com 43