600650 900914 2005 2006 3 15

2005... 1... 1... 2... 3... 5... 8... 9... 9... 15... 15... 18... 18 1

2005 1 2 3 1 Shanghai Jin Jiang International Industrial Investment Co., Ltd. JJTZ 2 3 100 28 021 63218800 021 63213119 E-mail dshms@jjtz.com 100 28 021 63218800 021 63213119 E-mail zqdb@jjtz.com 4 1 100 28 200002 www.jjtz.com dshms@jjtz.com 5 http://www.sse.com.cn 100 28 6 A A 2006 2 13 G A 600650 B B B B 900914 7 1993 2 24 019015 310115607200690 222 30 222 30 1

2005 : : 367,657,967 250,951,956 173,167,171 480,225,862 13,151,223 167,002,479 177,691,840 5,621,761 17,341,887 450,707,728 45,162,694 : : 250,952 201,620 1,759,451 1,900,128-20,505-10,514-10,514-31,019-9,866-9,866-9,866 12,301 25,145 11,325 856-169,926-158,986 103 12,844 12,844 103 1,771 1,771 1,085-11,068-24,802-24,804 66,397 5,328 5,713 1,770 40,169-2,154 656 264,130 224,041 1,555,033 1,775,238 : : 89,877,580 5,621,761 2,619,400 1,133,932 12,000,000-33,467,888 77,784,785 2

2005 1 2 1,679 : : 2005 2004 2003 (%) 3,279,881,587 2,531,867,267 2,531,867,267 29.54 324,283,789 324,283,789 367,657,967 313,896,755 300,198,677 17.13 38,176,623 30,100,137 250,951,956 201,620,369 190,552,163 24.47 19,961,349 11,884,863 173,167,171 109,615,420 109,615,420 57.97 6,469,323 6,469,323 0.455 0.366 0.345 24.32 0.036 0.022 % 13.21 11.46 10.99 1.75 1.28 0.77 9.11 6.32 % 6.32 2.79 0.42 0.42 8.84 6.69 % 6.69 2.15 0.42 0.42 450,707,728 282,347,246 282,347,246 59.63 66,772,836 66,772,836 0.817 0.512 0.512 59.57 0.121 0.121 2004 2003 2005 (%) 2,792,181,520 2,816,267,496 2,754,969,309-0.86 1,968,575,127 1,954,840,232 1,900,128,183 1,759,451,619 1,734,648,519 7.99 1,557,831,251 1,544,096,356 3.44 3.19 3.14 7.84 2.82 2.80 3.43 3.18 3.14 7.86 2.81 2.79 : : 551,610,107 892,040,246 122,784,195 40,889,579 82,695,050 1,759,451,619 46,629 91,754,319 23,375,368 159,197,637 140,676,564 165,483,032 551,610,107 892,086,875 214,538,514 64,264,947 76,409,655 1,900,128,183 1 2 3 4 2005 5 3

2005 1 : (%) (%) 1 223,289,675 40.48 223,289,675 40.48 223,289,675 40.48 223,289,675 40.48 2 125,452,800 22.74 125,452,800 22.74 348,742,475 63.22 348,742,475 63.22 1 41,817,600 7.58 41,817,600 7.58 2 161,050,032 29.20 161,050,032 29.20 202,867,632 36.78 202,867,632 36.78 551,610,107 100.00 551,610,107 100.00 2 (1) (2) (3) 1 : 44,810 (%) 41.19 227,222,620 227,222,620 UBS Warburg Custody Pte Ltd. 1.44 7,968,280 7,968,280 0.85 4,691,934 4,691,934 SKANDIA GLOBAL FUNDS PLC 0.71 3,913,811 2,023,711 0.71 3,894,935 0.68 3,761,493 3,761,493 0.64 3,533,587 3,533,587 FORTIS BANK SA/NV 0.59 3,250,797 3,250,797 0.57 3,136,320 3,136,320 4

2005 GT PRC FUND 0.54 3,000,000 3,000,000 UBS Warburg Custody Pte Ltd. SKANDIA GLOBAL FUNDS PLC GT PRC FUND CITIBANK NA H.K. S/A GOLDMAN SACHS INTERNATIONAL HKSBCSB A/C HSBC SHANGHAI S/A MORGAN STANLEY & CO. INTERNATIONAL LTD. DEUTSCHE BANK LONDON DEBORAH WANG LIN 7,968,280 3,913,811 3,894,935 FORTIS BANK SA/NV 3,250,797 3,000,000 2,076,900 2,068,150 1,717,833 1,616,909 1,412,840 1 6 7 2 1 20 2003 6 2 3 100% 41.19% 3 5

2005 : : ( ) 55 2003-06 2006-05 4,182 4,182 50 2003-06 2006-05 4,182 4,182 36 52 2004-05 2006-05 34 67 2003-06 2006-05 50 2003-06 2006-05 4,182 4,182 54 2004-05 2006-05 44 2003-06 2006-05 38 2003-06 2006-05 3,894,935 3,894,935 61 2003-06 2006-05 4 61 2003-06 2006-05 4 35 2003-06 2006-05 4 50 2004-05 2006-05 4 53 2004-05 2006-05 29 46 2004-05 2006-05 13 42 2005-03 2006-05 13 47 2004-05 2006-05 29 51 2004-05 2006-05 27 45 2004-05 2006-05 27 50 2004-04 2006-05 21 / / / / / 3,907,481 3,907,481 / 245 5 (1) (2) (3) (4) (5) (6) (7) (8) 6

2005 (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) 2003-06 2003-06 2003-07 2003-06 2003-08 2006-06 2005-11 2006-06 2003-08 2006-06 2004-05 2007-05 2004-05 2007-05 1 2 3 7

2005 2005 3 2005 3 30 13,459 366 1 12,755 208 105 131 260 2 889 1 2 3 4 5 8

2005 6 7 1 8 8 8 8 8 8 8 8 2 1) 2) 3) 4) 5) 2005 5 12 2004 2005 5 14 1 2005 500 YRC 9

2005 10 JHJ 1 32.8 7.5 29.54% 2.5 0.5 24.47% 13.21% 1.75 2 3 JHJ WTO 2005 JHJ IT JHJ 17 500 YRC JHJ 2005 6 JHJ 4 : 7500 4S 4S : JHJ 30, YRC YRC YRC 5, 2 1 150 35 2 3 JHJ 7 JHJ

2005 3 2005 2004 12 31 12 31 0 1104-1104 -100% 3089 20 3069 15345% 0 260-260 -100% 17593 40016-22423 -56% 50% 2822 1355 1467 108% 4S 4271 1689 2582 153% 5108 4112 996 24% 3375 9890-6515 -66% 50% 12643 29614-16971 -57% 8328 5947 2381 40% 2103 831 1272 153% 32260 24117 8143 34% 911 2146-1235 -58% 2005 1 2004 1 1 1 12 12 31 31 327988 253187 74801 30% 6 1 1-5 6-12 275354 204976 70378 34% 1315 882 433 49% 13710 17212-3502 -20% 1-5 562 94 468 498% 1901 495 1406 284% 4 2004 6 1 2005 2004 45071 28235 60% 1-5 -28995 7042-512% 2-11559 -12819-2004 5 33,849 128,583 110,640 12,418 8,049 57,327 252,542 4,259 11

2005 ( ) 3,000 17,952 11,646 1,873 ( ) 19,161 110,680 85,258 53,733 1 5 2 3 2006 2006 1 2006 2 4S 4S 4S 3 YRC JHJ YRC YRC MIQ JHJ MIQ JHJ 12

2005 YRC JHJ 4 5, 4 2006 2006 4 5 1 2 1 YRC 2 3 1 : : (%) % 208,266 172,488 7.75 19.40 6.72 0.77 116,315 84,358 24.94 95.13 108.10 3.74 2005 2004 6 1 (%) 13

2005 2 : : ( ) 250,944 21.53 77,044 64.97 (%) 23 50 YRC 1000 YRC75% 25% 2500 2005 9 21 2005-012 1 2 1 1) 2005 3 28 2005 3 30 2) 2005 4 21 2005 3) 2005 6 17 2005 6 20 4) 2005 6 24 YRC YRC 5) 2005 6 28 23% 23% 1412.62 6) 2005 8 17 2005 7) 2005 10 26 2005 8) 2005 12 16 2005 12 19 2 1 14

2005 2 2005 5 12 2004 0.20 2005 5 14 2005 6 21 A 2005 6 24 B 2005 6 24, 2005 6 29 2005 6 27 2005 7 8 2005 250,951,956 10% 46,750,736 25,095,196 21,655,540 5% 23,375,367 12,547,598 10,827,770 5% 21,628,216 159,197,637 82,695,050 241,892,687 2005 551,610,107, 10 3.00 ( ) B 165,483,032 76,409,655 2005 3 28 2004 2005 3 30 2005 15% 1 1) 2005 6 10 19 544 544 2004 12 17 15

2005 2) 2005 6 16 50 389 389 2004 12 17 3) 2005 6 29 23% 1,117 1,117 2 1) 2005 6 20 METRO INTERNATIONAL BETEILIGUNGS GmbH 10% 4,146 5,379 5,379 1,231 2) 2005 8 31 YRC 15% 2,693 1,350 1,350 7,484 2005 6 20 YRC 50% 3 10% 2005 6 20 2005-010 1 (1) : : ( ) ( ) 88 1 54 100 ( ) 300 5 90 (2) : : ( ) ( )331 33 1,313 1 16

2005 2 3 : : 633 1,333-1,100 0-491 949-602 0-3,000 0-375 2,961 / -1,935 5,243-3,000 0 12 : : 2005-03-29 2005-03-29 975 2006-03-28 2005-12-20 1,250 2005-12-20 2006-12-19 1,057 1,057 6,547 486 1,543 (%) 0.81 17

2005 0 70 0 50% 0 0 1) 2005 3 29 50% 975 2006 3 28 2) 2005 12 20 50% 1,250 2006 12 19 5% 13 1 2005 150 2005 2005 12 19 2006 1 20 2006 1 18 1 20 A 2006 2 8 A 10 A 3.5 13 A A "G " 600650 2006 2 8 18

2005 2006 3 15 2005 68 2 2005 2005 2005 2005 2005 2005 2006 3 15 19

2005 12 31

2005 12 31 1 2 3 4 5 6 7 46

( )(06) P0169 2005 12 31 2 46 2005 12 31 2006 3 15 1

2005 12 31 ( ) ( ) 6 477,493,387.70 417,884,580.70 211,192,616.32 112,747,599.00 7-11,042,802.77-11,042,802.77 8 30,890,657.50 200,000.00 120,370,501.21-9 - 2,598,247.14-2,598,247.14 10 175,928,556.74 400,157,906.68 128,936.12 151,385.19 11 79,686,074.01 79,614,051.25 13,143,585.72 650,585.12 13 23,164,573.86 19,052,666.21 - - 14 28,216,389.64 13,550,376.30 191,735.55 199,975.80 15 3,218,964.79 2,692,790.19 12,734.73 12,626.28 21 4,230,666.67 4,230,666.67 - - 822,829,270.91 951,024,087.91 345,040,109.65 127,403,221.30 16 855,854,057.07 875,503,637.48 1,532,230,719.20 1,594,060,756.31 513,125,825.62 531,242,143.95 - - 17 1,951,657,538.00 1,772,069,136.40 107,270,658.98 111,904,451.15 17 988,052,701.00 900,044,406.89 26,944,351.59 25,305,135.69 17 963,604,837.00 872,024,729.51 80,326,307.39 86,599,315.46 17 26,598.64 2,825,647.03-2,710,615.73 17 963,578,238.36 869,199,082.48 80,326,307.39 83,888,699.73 18 42,707,689.45 16,890,433.82 - - 1,006,285,927.81 886,089,516.30 80,326,307.39 83,888,699.73 19 81,408,705.29 71,936,033.25 1,068,658.00 1,105,402.00 20 419,558.46 2,099,553.34 - - 21 25,384,000.58 29,614,667.25 - - 107,212,264.33 103,650,253.84 1,068,658.00 1,105,402.00 2,792,181,520.12 2,816,267,495.53 1,958,665,794.24 1,806,458,079.34 ( ) 2

( ) ( ) 22 51,076,000.08 41,124,055.72 - - 23 33,750,000.00 98,900,000.00 - - 24 126,434,431.36 296,143,129.49 309,169.81 344,682.50 24 83,278,075.37 59,467,206.62 257,876.58 224,764.90 1,343,434.96 2,132,298.70 - - 43,978,737.03 35,085,122.95 - - 25 21,028,604.58 8,312,344.99 13,162,564.00 1,383,526.80 26 34,097,023.75 42,221,787.06 22,780,352.21 26,064,445.17 256,127.94 133,005.87 364.93 375.40 27 322,600,731.24 241,176,690.92 18,138,953.54 4,121,246.18 28 9,114,031.00 21,460,920.20 3,888,329.80 14,867,419.00 726,957,197.31 846,156,562.52 58,537,610.87 47,006,459.95 165,096,139.44 210,659,313.62 - - 29 551,610,107.00 551,610,107.00 551,610,107.00 551,610,107.00 30 892,086,875.40 892,040,245.90 892,086,875.40 892,040,245.90 31 214,538,514.27 122,784,194.82 132,601,634.11 94,958,840.73 31 64,264,946.81 40,889,578.95 44,773,896.19 32,226,298.40 32 76,409,654.60 82,695,050.27 158,346,534.76 110,520,404.36 32 165,483,032.10 110,322,021.40 165,483,032.10 110,322,021.40 1,900,128,183.37 1,759,451,619.39 1,900,128,183.37 1,759,451,619.39 2,792,181,520.12 2,816,267,495.53 1,958,665,794.24 1,806,458,079.34 2 46 3

2005 12 31 ( ) ( ) 33 3,279,881,587.08 2,531,867,266.92 24,167,121.85 117,192,284.93 33 2,753,544,671.28 2,049,757,632.61 3,122,167.60 14,264,670.97 33 46,111,054.22 31,162,796.97 1,223,356.09 2,308,468.36 480,225,861.58 450,946,837.34 19,821,598.16 100,619,145.60 13,151,222.78 8,817,288.71 300,000.00-187,986,305.32 157,731,602.68 3,090,525.99 21,952,569.86 137,096,666.75 172,116,922.83 23,372,571.47 89,196,078.76 34 1,291,632.90 2,439,054.23 (1,300,241.51) 1,335,665.08 ( ) 167,002,479.39 127,476,546.31 (5,041,257.79) (11,865,168.10) 35 177,691,840.21 185,514,254.10 282,102,339.34 251,059,817.91 36 5,621,761.15 936,862.31 - - 37 19,011,614.10 4,953,248.73 78,986.40 51,587.69 38 1,669,727.38 4,984,156.41 35,015.94 3,729,755.27 367,657,967.47 313,896,755.04 277,105,052.01 235,516,482.23 39 53,535,257.01 65,769,416.06 26,153,096.13 33,896,113.27 63,170,754.58 46,506,970.02 - - 250,951,955.88 201,620,368.96 250,951,955.88 201,620,368.96 82,695,050.27 45,221,182.04 110,520,404.36 49,465,112.15 333,647,006.15 246,841,551.00 361,472,360.24 251,085,481.11 32 68,378,951.59 36,494,822.76 25,095,195.59 20,162,036.90 32 23,375,367.86 17,329,656.57 12,547,597.79 10,081,018.45 241,892,686.70 193,017,071.67 323,829,566.86 220,842,425.76 32 165,483,032.10 110,322,021.40 165,483,032.10 110,322,021.40 76,409,654.60 82,695,050.27 158,346,534.76 110,520,404.36 1 ( ) 14,709,293.52 11,068,206.06 14,709,293.52 11,068,206.06 2 ( ) - 3,079,053.69-3,079,053.69 14,709,293.52 14,147,259.75 14,709,293.52 14,147,259.75 4

2005 12 31 3,432,448,062.64 2,548,278,356.09 24,222,682.60 111,619,634.92 43 22,817,305.42 50,577,598.29 477,741.51 3,178,962.16 3,455,265,368.06 2,598,855,954.38 24,700,424.11 114,798,597.08 2,468,279,542.95 1,848,397,177.38 3,149,440.04 14,295,996.41 310,045,482.60 261,487,320.09 22,240,079.97 40,985,188.13 113,855,681.32 80,010,191.78 31,009,184.43 13,212,761.75 44 112,376,933.28 126,614,019.09 465,088.41 30,478,089.03 3,004,557,640.15 2,316,508,708.34 56,863,792.85 98,972,035.32 450,707,727.91 282,347,246.04 (32,163,368.74) 15,826,561.76 65,128,076.68 31,589,994.00 166,583,949.19 31,589,994.00 87,670,384.08 137,583,930.49 111,481,168.07 90,981,374.47 38,010,371.61 19,095,080.77 3,227,050.00 837,760.40-61,400,038.56 - - 21 37 16,230,666.67 4,230,666.67-183,463.52 207,039,499.04 253,899,710.49 281,292,167.26 123,592,592.39 444,843,960.88 176,863,984.98 140,797.00 5,376,247.66 31,117,436.18 6,620,311.20 52,000,000.00-5 5,567,436.18 - - - - - - 19,665,057.66 - - - 37,758,537.65 41 21,029,647.82 - - - 496,991,044.88 183,484,296.18 52,140,797.00 62,799,842.97 (289,951,545.84) 70,415,414.31 229,151,370.26 60,792,749.42 28,000,000.00 8,000,000.00 - - 28,000,000.00 8,000,000.00 - - 71,000,000.00 162,975,000.00 - - 99,000,000.00 170,975,000.00 - - 51,048,055.64 291,981,925.83-105,000,000.00 163,545,432.81 7,184,486.28 98,542,984.20 2,448,970.50 61,604,175.78 338,539.66 - - 214,593,488.45 299,166,412.09 98,542,984.20 107,448,970.50 (115,593,488.45) (128,191,412.09) (98,542,984.20) (107,448,970.50) ( ) 45,162,693.62 224,571,248.26 98,445,017.32 (30,829,659.32) 5

( ) ( ) 250,951,955.88 201,620,368.96 250,951,955.88 201,620,368.96 63,170,754.58 46,506,970.02 - - 17,268,138.18 (157,279.49) 16,794,990.10-254,496,853.98 170,576,605.56 3,671,269.40 23,114,281.91 2,921,815.13 2,098,883.35 36,744,.00 728,366.70 1,679,994.88 1,100,710.53 - - ( ) (2,829,436.04) (911,609.79) (108.45) (310,592.83) ( ) (2,722,486.77) 3,025,519.01 31,919.94 3,634,638.93 3,398,272.83 5,477,126.85-2,425,342.50 ( ) (194,486,830.31) (185,514,254.10) (298,897,329.44) (251,059,817.91) (14,662,901.85) (919,511.20) 8,240.25 354,765.79 ( ) 33,039,750.26 2,701,402.44 (1,286,114.14) (4,576,270.77) ( ) 50,481,847.16 36,742,313.90 (3,474,936.28) 39,895,478.48 37 (12,000,000.00) - - - 450,707,727.91 282,347,246.04 (32,163,368.74) 15,826,561.76 29,148,845.94 - - - ( ) 44 463,047,274.32 417,884,580.70 211,192,616.32 112,747,599.00 417,884,580.70 193,313,332.44 112,747,599.00 143,577,258.32 ( ) 45,162,693.62 224,571,248.26 98,445,017.32 (30,829,659.32) 6

2005 12 31 1. ( ) 1993 2 24 A B ( ) ( ) ( ) 2. 1 1 12 31 ( ) 7

2. - (1) (2) % 1 1 2 25 2 3 50 3 100 3 3 6 25 6 12 45 1 100 3 3 1 25 1 100 / / / 8

2. - ( 10% ) 9

2. - (1) 10 (2) ( ) 6 4% 10% 10

2. - 4-10% 20-50 1.8-4.8% 4-10% 5-20 1.8-19.2% 4-10% 2-10 9.0-48.0% 4-5% 5-8 11.9-19.2% 4-10% 5-10 11.9-19.2% - 4.0-6.7% - 8 12.5% 50 10 11

2. - ( ) ( ) 12

2. - 1 12 31 12 31 50% 13

2. - - 2 - / 3. 2005 1 20 24,803,100.52 14

3. ( ) 2004 1 1 33,546,521.75 66,899,481.32 13,734,894.46 - (2,060,234.17) 2,060,234.17 2004 1 1 45,221,182.04 68,959,715.49 2004 12 31 61,612,414.83 119,063,729.74 24,235,598.94-567,501.58 - (3,720,465.08) 3,720,465.08 2004 12 31 82,695,050.27 122,784,194.82 2005 2004 2005 2004 14,709,293.52 11,068,206.06 529,485,920.46 (40,533,683.75) 488,952,236.71 31,088,745.45 (1,159,693.20) 29,929,052.25 24,135,106.07 (1,847,612.41) 22,287,493.66 584,709,771.98 (43,540,989.36) 541,168,782.62 4. 17% 3% 3% 5% 5% 15

4. 33% 15% 15% 15% 15% 15% 15% ( 1) 15% 15% 15% 15% ( 2) 15% 33% ( 3) 15% 16.5% ( 4) 1 30% 2005 1 15% 2 Q2(2002)0155 2004 10% 2005 15% 3 33% (2005)3 2005 1 1 2007 12 31 4 33% 2002 0031 2002 6 1 2004 12 31 2005 1 1 2007 12 31 5 15% 5. (%) ( ) 33,849 95 936.7 75 ( ) ( 1) 8,000 65 ( ) (%) ( )( 2) 1,000 50 ( )( 3) 3,000 49.5 ( ) ( ) 16

5. (%) ( 4) 7,000 50 200 100 1,000 100 2,000 100 561 87.83 1,000 100 330 100 200 76 ( ) 500 70 ( ) 1,010 100 ( ) ( 7) 1,000 70 ( ) ( ) ( 5) 80 100 ( 5) 100 80 ( 5) 88 100 ( 1 5) 10 100 ( ) ( 1 5) 30 100 ( ) ( ) (%) 2,200 50 200 50 ( 7) 500 50 790 50 800 50 (%) 500 100 (%) 50 100 160 80 (%) ( 6) 30 100 5. - 17

1 2 2005 8 31 ( ) 15% 35 50 2005 2004 12 31 2005 1 1 2004 6 1 ( ) 12 31 41 3 4 5 (1996)2 10% 2005 12 31 6,624,379.47 580,476.26 6 2005 3 7 7 4,988,586.18 578,850.00 50% 15% 70 50 45 6. 4,851,395.26 1.0000 4,851,395.26 436,799.19 1.0000 436,799.19 431,478,443.65 1.0000 431,478,443.65 387,785,402.84 1.0000 387,785,402.84 3,116,974.28 8.0702 25,154,605.83 3,092,825.34 8.2765 25,597,793.07 36,412.05 1.0402 37,875.81 1,811,096.87 1.0649 1,928,709.68 55,932.78 9.5797 535,819.25 - - - ( ) 15,396,393.20 1.0000 15,396,393.20 2,121,345.94 1.0000 2,121,345.94 4,814.59 8.0702 38,854.70 1,755.57 8.2765 14,529.98 477,493,387.70 417,884,580.70 14,446,113.38 34% 7. 18

( ) - - - 11,042,802.77-11,042,802.77 8. ( ) 30,890,657.50 - - 200,000.00 30,890,657.50 200,000.00 61,781,315.00 30,890,657.50 9. ( ) - 2,598,247.14 10. (%) (%) 1 178,107,497.96 99.8 2,299,118.03 175,808,379.93 403,477,783.47 99.9 3,455,647.01 400,022,136.46 1 2 322,875.35 0.2 206,766.40 116,108.95 112,192.29-30,772.78 81,419.51 2 3 6,355.21-2,773.81 3,581.40 3,518.50-3,518.50-3 12,327.68-11,841.22 486.46 232,774.05 0.1 178,423.34 54,350.71 178,449,056.20 100.0 2,520,499.46 175,928,556.74 403,826,268.31 100.0 3,668,361.63 400,157,906.68 19

10. 42,271,373.38 23.69% 5%( 5%) 11. (%) (%) 1 73,299,073.61 91.9-73,299,073.61 70,098,064.30 86.7 1,082,101.15 69,015,963.15 1 2 1,826,104.76 2.3-1,826,104.76 4,113,300.38 5.1 85,043.95 4,028,256.43 2 3 611,704.02 0.8 83,334.98 528,369.04 3,166,850.35 3.9 14,220.71 3,152,629.64 3 4,040,809.33 5.0 8,282.73 4,032,526.60 3,466,423.95 4.3 49,221.92 3,417,202.03 79,777,691.72 100.0 91,617.71 79,686,074.01 80,844,638.98 100.0 1,230,587.73 79,614,051.25 27,122,613.41 34.00% 5%( 5%) 13,334,970.11 9,487,559.14 2,200,000.00 20

12. 3,668,361.63 1,230,587.73 4,898,949.36 1,595,755.95 11,324.12 1,607,080.07 (637.86) (1,133,294.13) (1,133,931.99) (2,564,596.50) - (2,564,596.50) (178,383.77) (17,000.00) (195,383.77) 2,520,499.45 91,617.72 2,612,117.17 13. % % 1 23,164,573.86 100.0 19,052,666.21 100.0 5%( 5%) 14. 20,579,855.27-20,579,855.27 6,243,777.29-6,243,777.29 82,547.98-82,547.98 59,097.48-59,097.48 7,673,366.98 119,380.59 7,553,986.39 7,369,993.61 122,492.08 7,247,501.53 28,335,770.23 119,380.59 28,216,389.64 13,672,868.38 122,492.08 13,550,376.30 122,492.08 (3,111.49) 119,380.59 21

15. 2,277,181.20 1,803,139.42 835,370.97 805,055.96 106,412.62 84,594.81 3,218,964.79 2,692,790.19 16. (1) 4,058,837.05-4,058,837.05 3,787,829.00-3,787,829.00 (2) 243,295,869.09-243,295,869.09 187,958,123.20-187,958,123.20 (3) 15,343,500.00 1,205,000.00 14,138,500.00 15,343,500.00 1,205,000.00 14,138,500.00 (4) 98,030,015.41 16,794,990.10 81,235,025.31 138,377,041.33-138,377,041.33 (5) 513,125,825.62-513,125,825.62 531,242,143.95-531,242,143.95 873,854,047.17 17,999,990.10 855,854,057.07 876,708,637.48 1,205,000.00 875,503,637.48 (1) /( ) 20 300,000.00 (300,000.00) - 100% 14,673.91 (14,673.91) - 15 800,000.00-800,000.00 100% 339,781.28 200,314.77 540,096.05 15 640,000.00-640,000.00 80% 647,773.01 65,320.02 713,093.03 15 1,030,364.00-1,030,364.00 100% 15,236.80 153,921.68 169,158.48 20-100,000.00 100,000.00 100% - (83,874.51) (83,874.51) 10-150,000.00 150,000.00 100% - - - 3,787,829.00 271,008.05 4,058,837.05 /( ) 500,945.52 165,263.56 22

16. (2) /( ) ( 2) ( 1) 15 14,614,900.00-14,614,900.00 50% 5,955,635.54 528,351.52 6,483,987.06 ( 1) 30 500,000.00-500,000.00 50% 4,336,989.70 1,463,323.68 5,800,313.38 ( 1) 15 150,000.00-150,000.00 50% 127,212.91 113,287.11 240,500.02 20 6,000,000.00-6,000,000.00 40% 1,635,289.64 1,906,610.75 3,541,900.39 5 4,500,000.00-4,500,000.00 30% 1,622,953.93 45,837.51 1,668,791.44 30 3,000,000.00-3,000,000.00 30% 1,194,098.63 2,600,556.24 3,794,654.87 20 1,500,000.00-1,500,000.00 30% 227,367.55 750,097.74 977,465.29 50-25,300,000.00 25,300,000.00 23% - - - 20 38,322,000.00-38,322,000.00 20% 104,271,675.30 22,629,681.34 126,901,356.64 187,958,123.20 55,337,745.89 243,295,869.09 1 2 /( ) 113,770,135.08 83,732,389.19 (3) 338,800 1,240,000.00-1,240,000.00 <1% 989,816 1,832,600.00-1,832,600.00 <1% 515,315 1,522,300.00-1,522,300.00 <1% 290,400 490,000.00-490,000.00 <1% 1,875,049 6,300,000.00-6,300,000.00 <1% 527,076 1,352,000.00-1,352,000.00 <1% 549,146 484,000.00-484,000.00 <1% 607,602 650,000.00 650,000.00 - <1% 150,000 280,000.00-280,000.00 <1% 66,000 140,000.00-140,000.00 <1% 500,000 555,000.00 555,000.00 - <1% 163,200 497,600.00-497,600.00 <1% 15,343,500.00 1,205,000.00 14,138,500.00 23

16. (4) /( ) ( 3) ( 1) 7,000,000.00 - - - 7,000,000.00 20% ( 5) 16,555,237.81 - - - 16,555,237.81 10% 30 41,459,959.32 - (41,459,959.32) - - 10% 20 746,253.00 - - - 746,253.00 10% 8,106,520.00 - - - 8,106,520.00 <5 ( 2) 47,649,967.00 - - 14,294,990.10 33,354,976.90 <5 ( 2) 350,033.00-4,490,044.00 2,500,000.00 2,340,077.00 <5 20 2,240,000.00 - - - 2,240,000.00 11% 30 7,500,000.00 - - - 7,500,000.00 10% ( 1 4) 20 2,814,274.00 1,407,137.00 - - 1,407,137.00 34% ( 1) 20 3,939,947.20 1,969,973.60 - - 1,969,973.60 34% 14,850.00 - - - 14,850.00 5% 138,377,041.33 3,377,110.60 (36,969,915.32) 16,794,990.10 81,235,025.31 1 2 4,490,044,00 3 16,794,990.10 4 ( ) 2005 4 5 34% ( ) 54,158,685.00 ( ) 5 23,180,000.00 (5) 1) 488,952,236.71 482,830,275.25-10,494,789.39 472,335,485.86 46.59 ( 1 2) 29,929,052.25 25,708,430.54 5,712,446.96 1,321,614.61 18,674,368.97 18.5 /23 ( 1) 22,287,493.66 22,004,862.40-484,510.73 21,520,351.67 46 853,161.51 597,300.49-88,488.96 508,811.53 10 144,678.90 101,275.27-14,467.68 86,807.59 10 542,166,623.03 531,242,143.95 5,712,446.96 12,403,871.37 513,125,825.62 1 2004 5 31 3 24

16. (5) 2 12,261,408.46 23 10,760,937.82 18.5 3 17. 155,618,309.90 41,064,538.08 43,710,071.75 1,479,958,193.24 43,859,271.29 2,400,109.30 5,458,642.84 1,772,069,136.40 (3,129,590.76) 455,260.00 2,325,016.76 - - - 349,314.00 - - 2,447,930.33 4,508,874.06 50,456,998.07 3,206,169.62 - - 60,619,972.08 20,989,335.53-2,102,363.49 318,051,403.10 4,111,981.05 - - 345,255,083.17 - (8,718,266.94) (11,472,191.18) (164,805,950.72) (1,444,078.56) - - (186,440,487.40) (12,835,350.25) - (8,788,285.01) - (18,222,530.99) - - (39,846,166.25) 160,642,704.42 35,249,461.47 32,385,849.87 1,683,660,643.69 31,510,812.41 2,400,109.30 5,807,956.84 1,951,657,538.00 28,600,203.00 26,707,114.15 28,456,890.42 788,155,624.65 23,598,418.02 2,104,264.77 2,421,891.88 900,044,406.89 (407,921.39) 73,347.96 (1,669.91) - - - 336,243.34-6,422,134.27 2,012,036.42 4,737,699.22 235,235,049.42 5,143,460.58 197,765.58 748,708.49 254,496,853.98 - (5,635,467.05) (10,641,828.33) (133,992,652.48) (1,310,656.31) - - (151,580,604.17) (1,875,332.32) - (4,675,302.41) - (8,357,320.97) - - (14,907,955.70) 32,739,083.56 23,157,031.48 17,875,788.99 889,398,021.59 19,073,901.32 2,302,030.35 3,506,843.71 988,052,701.00-2,731,726.03 93,921.00 - - - - 2,825,647.03 - (2,716,656.39) (82,392.00) - - - - (2,799,048.39) - 15,069.64 11,529.00 - - - - 26,598.64 127,018,106.90 11,625,697.90 15,159,260.33 691,802,568.59 20,260,853.27 295,844.53 3,036,750.96 869,199,082.48 127,903,620.86 12,077,360.35 14,498,531.88 794,262,622.10 12,436,911.09 98,078.95 2,301,113.13 963,578,238.36 22,823,974.75 ( 23,267,474.27 ) 1,652,000.00 ( 1,770,000.00 ) 3,263,000.00 ( 3,368,000.00 ) 25

18. 5,611,055.50 15,378,280.03 - (20,989,335.53) - 10,561,289.32 349,850,551.53 (111,650.00) (318,051,403.10) 42,248,787.75 718,089.00 5,955,157.24 - (6,214,344.54) 458,901.70 16,890,433.82 371,183,988.80 (111,650.00) (345,255,083.17) 42,707,689.45 - - 16,890,433.82 42,707,689.45 19. 94,049,270.50 1,377,920.00 1,856,250.00 97,283,440.50 12,440,000.00-600,000.00 13,040,000.00 - - (1,228,125.00) (1,228,125.00) 106,489,270.50 1,377,920.00 1,228,125.00 109,095,315.50 24,758,382.86 272,518.00 316,506.39 25,347,407.25 1,771,609.61 36,744.00 1,113,461.52 2,921,815.13 - - (582,612.17) (582,612.17) 26,529,992.47 309,262.00 847,355.74 27,686,610.21 69,290,887.64 1,105,402.00 1,539,743.61 71,936,033.25 79,959,278.03 1,068,658.00 380,769.26 81,408,705.29 15-50 29 1 20. 1,085,047.28 (1,085,047.28) - - 687,496.67 (500,000.00) 187,496.67 2 327,009.39 (94,947.60) 232,061.79 4 2,099,553.34 (1,679,994.88) 419,558.46 26

21. ( ) 29,614,667.25 33,845,333.92 (4,230,666.67) (4,230,666.67) 25,384,000.58 29,614,667.25 50,768,000.00 12 22. 11,000,000.00 4,455,000.00 76,000.08 549,055.72 40,000,000.00 6,120,000.00-30,000,000.00 51,076,000.08 41,124,055.72 1,000,000.00 ( ) 40,000,000.00 23. 33,750,000.00 98,900,000.00 24. 5%( 5%) 27

25. 13,162,564.00 1,383,526.80 7,866,040.58 6,928,818.19 21,028,604.58 8,312,344.99 26. 27,528,158.84 35,856,376.23 6,037,475.09 3,986,407.70 (1,803,805.61) (183,723.93) 2,335,195.43 2,562,727.06 34,097,023.75 42,221,787.06 27. 5% - 177,926.14 28. 2004 11 2005 12 31 3,888,329.80 ( 14,867,419.00 ) 2002 3 2005 12 31 5,225,701.20 ( 6,593,501.20 ) 28

29. ( ) 1 223,289,675 2 125,452,800 348,742,475 1 41,817,600 2 161,050,032 202,867,632 551,610,107 1 30. 2004 1 1 577,435,965.00 266,218,226.90 5,500,962.00 42,885,092.00 892,040,245.90 ( ) (577,435,965.00) - (5,500,962.00) 582,936,927.00-2004 12 31-266,218,226.90-625,822,019.00 892.040,245.90 ( ) - - 46,629.50-46,629.50 2005 12 31-266,218,226.90 46,629.50 625,822,019.00 892,086,875.40 29

31. 2004 1 1 ( 3) 34,715,157.12 23,559,922.37 10,684,636.00-68,959,715.49 ( 3) 33,758,525.19 17,329,656.58-2,736,297.56 53,824,479.33 2004 12 31 ( 3) 68,473,682.31 40,889,578.95 10,684,636.00 2,736,297.56 122,784,194.82 46,750,735.73 23,375,367.86-38,414,303.22 108,540,406.81 - - - (16,786,087.36) (16,786,087.36) 2005 12 31 115,224,418.04 64,264,946.81 10,684,636.00 24,364,513.42 214,538,514.27 32. ( 3) 82,695,050.27 45,221,182.04 250,951,955.88 201,620,368.96 ( 1) 25,095,195.59 20,162,036.90 ( 2) 12,547,597.79 10,081,018.45 21,655,540.14 13,596,488.30 10,827,770.07 7,248,638.12 ( 3) 21,628,215.86 2,736,297.56 ( 4) 165,483,032.10 110,322,021.40 76,409,654.60 82,695,050.27 30

32. 1 177 10% 2 177 2005 5% 3 2004 5% 4 2005 551,610,107 10 3 ( ) B 165,483,032.10 76,409,654.60 33. 312,541,500.66 9.49% ( ) 2005 2,082,657,074.82 1,163,151,300.96 34,073,211.30-3,279,881,587.08 8,621.25 12,842,506.53 300,095.00-13,151,222.78 2,082,665,696.07 1,175,993,807.49 34,373,306.30-3,293,032,809.86 1,921,226,901.91 873,118,893.05 5,309,930.54-2,799,655,725.50 121,914,715.26 170,266,344.74 25,174,304.85 9,019,240.12 326,374,604.97 39,524,078.90 132,608,569.70 3,889,070.91 (9,019,240.12) 167,002,479.39 501,445,548.04 1,780,453,560.52 100,783,080.22 409,499,331.34 2,792,181,520.12 223,651,258.01 414,797,443.00 24,420,401.30 64,088,095.00 726,957,197.31 31

33. 2004 1,744,207,512.28 596,085,493.61 191,574,261.03-2,531,867,266.92 (3,984.00) 8,811,668.51 9,604.20-8,817,288.71 1,744,203,528.28 604,897,162.12 191,583,865.23-2,540,684,555.63 1,622,530,433.03 425,129,412.10 33,260,584.45-2,080,920,429.58 72,558,234.56 101,734,266.23 130,795,403.93 27,199,675.02 332,287,579.74 49,114,860.69 78,033,483.79 27,527,876.85 (27,199,675.02) 127,476,546.31 625,333,650.95 1,633,056,127.37 206,701,574.76 351,176,142.45 2,816,267,495.53 413,102,127.91 327,565,273.95 27,125,791.08 78,363,369.58 846,156,562.52 ( ) 34. 3,398,272.83 6,822,318.60 5,583,299.09 6,541,387.42 ( ) 2,656,684.02 255,837.81 819,975.14 1,902,285.24 1,291,632.90 2,439,054.23 35. 606,812.32 183,463.52 ( ) 87,155,093.89 118,040,129.00 4,857,714.87 3,042,053.22 114,271,080.60 71,894,515.70 (12,403,871.37) (7,645,907.34) (16,794,990.10) - 177,691,840.21 185,514,254.10 15% 74,844,453.21 41 10% 12,310,640.68 32

36. ( ) 4,646,052.66 505,790.30 975,708.49 431,072.01 5,621,761.15 936,862.31 37. 4,231,087.29 1,550,561.16 ( ) 12,000,000.00-1,484,078.32 2,349,518.07 1,296,448.49 1,053,169.50 19,011,614.10 4,953,248.73 2005 12,000,000.00 38. 1,508,600.52 4,576,081.17-115,031.30-293,043.94 161,126.86-1,669,727.38 4,984,156.41 33

39. ( 1) 26,153,096.13 33,896,113.27 ( 2) 27,382,160.88 31,873,302.79 53,535,257.01 65,769,416.06 1 33% 389 ( 28) -[2001] 409 2 40. 250,951,955.88 201,620,368.96 87,155,093.89 118,040,129.00 2,722,486.77 (3,025,520.01) 12,000,000.00-5,621,761.15 936,862.31 1,133,931.99 394,802.87-1,345,191.75 2,619,399.95 3,109,643.63-11,068,206.06 (33,467,888.83) (39,864,366.15) 173,167,170.96 109,615,419.50 34

41. 2004 2004/12/31 591,758,849.24 543,843,100.62 6,754,221.20 149,347,895.51 49,876,421.10 50,355,265.25 1,291,025.67 32,239,458.14 649,680,517.21 775,785,719.52 507,256,211.49 468,503,202.44 1,000,000.00 1,000,000.00 141,424,305.72 306,282,517.08 15% 21,213,646.27 ( 16) 5,712,446.96 74,844,453.21 101,770,546.44 101,770,546.44 101,770,546.44 122,800,194.26 (21,029,647.82) 2004 2004/6/1 2005/1/1 ( ) 2004/12/31 1,655,626,396.20 2,743,251,459.07 127,854,995.10 204,429,451.59 135,084,887.68 130,722,249.56 3,416,421.04 21,377,253.14 46,083,963.32 38,270,738.25 85,584,503.32 71,074,258.17 35

42. 5,583,299.09 5,621,761.15 7,600,000.00 4,012,245.18 22,817,305.42 43. 112,376,933.28 44. 477,493,387.70 417,884,580.70 ( 6) 14,446,113.38-463,047,274.32 417,884,580.70 45. (1) (%) (%) 1 127,779.43 98.5-127,779.43 149,733.31 45.3 3,617.57 146,115.74 1 2 - - - - 2,000.00 0.6-2,000.00 2 3 2,000.00 1.5 843.31 1,156.69 400.00 0.1-400.00 3 - - - - 178,478.96 54.0 175,609.51 2,869.45 129,779.43 100.0 843.31 128,936.12 330,612.27 100.0 179,227.08 151,385.19 36

45. (1) 129,779.43 100% 5 5 (2) (%) (%) 1 13,005,894.34 98.9-13,005,894.34 83,483.23 12.5-83,483.23 1 2 4,621.30 0.0-4,621.30 981.07 0.1-981.07 2 3 - - - - 8,000.00 1.2-8,000.00 3 135,292.00 1.1 2,221.92 133,070.08 577,342.74 86.2 19,221.92 558,120.82 13,145,807.64 100.0 2,221.92 13,143,585.72 669,807.04 100.0 19,221.92 650,585.12 12,127,091.68 92% 5 5 (3) 179,227.08 19,221.92 198,449.00 (178,383.77) (17,000.00) (195,383.77) 843.31 2,221.92 3,065.23 37

45. (4) (1) 1,258,890,647.25-1,258,890,647.25 1,366,389,793.89-1,366,389,793.89 (2) 191,596,107.24-191,596,107.24 92,162,092.29-92,162,092.29 (3) 14,845,900.00 1,205,000.00 13,640,900.00 14,845,900.00 1,205,000.00 13,640,900.00 (4) 84,898,054.81 16,794,990.10 68,103,064.71 121,867,970.13-121,867,970.13 1,550,230,709.30 17,999,990.10 1,532,230,719.20 1,595,265,756.31 1,205,000.00 1,594,060,756.31 (4.1) /( ) ( 1) 20 65% - 52,000,000.00-52,000,000.00-66,353,808.08-66,353,808.08-118,353,808.08-118,353,808.08 18.5 75% 6,100,000.00 - - 6,100,000.00 (3,037,880.13) 1,942.18 - (3,035,937.95) 3,062,119.87 1,942.18-3,064,062.05 46.59 95% 595,836,440.00 (57,700,628.42) - 538,135,811.58 482,830,275.25 (10,494,789.39) - 472,335,485.86 59,868,891.52 67,085,958.66-126,954,850.18-46,629.50-46,629.50 1,138,535,606.77 (1,062,829.65) - 1,137,472,777.12 ( 2 3) 23 50% 72,586,045.00 (15,580,941.28) (57,005,103.72) - 25,708,430.54 (954,500.09) (24,753,930.45) - 126,497,591.71 (91,576,897.30) (34,920,694.41) - 224,792,067.25 (108,112,338.67) (116,679,728.58) - 1,366,389,793.89 9,180,581.94 (116,679,728.58) 1,258,890,647.25 1 ( ) 202,138,180.51 233,554,938.59 2 15% 16,750,626.02 4,463,020.25 5,712,446.96 3 26,926,093.23 16,750,626.02 5,712,446.96 4,463,020.25 38

45. (4) (4.2) /( ) ( 1) 46 49.5% 65,391,901.00 - (2,284,123.25) 63,107,777.75 22,004,862.40 - (484,510.73) 21,520,351.67 4,765,328.89-5,220,725.02 9,986,053.91 92,162,092.29-2,452,091.04 94,614,183.33 23 50% - 40,254,477.70-40,254,477.70-19,041,483.49 (367,114.52) 18,674,368.97-30,457,674.16 7,595,403.08 38,053,077.24-89,753,635.35 7,228,288.56 96,981,923.91 92,162,092.29 89,753,635.35 9,680,379.60 191,596,107.24 1 ( ) 16,866,658.05 6,334,653.20 (4.3) 338,800 1,240,000.00-1,240,000.00 <1% 989,816 1,832,600.00-1,832,600.00 <1% 515,315 1,522,300.00-1,522,300.00 <1% 290,400 490,000.00-490,000.00 <1% 1,875,049 6,300,000.00-6,300,000.00 <1% 527,076 1,352,000.00-1,352,000.00 <1% 549,146 484,000.00-484,000.00 <1% 607,602 650,000.00 650,000.00 - <1% 150,000 280,000.00-280,000.00 <1% 66,000 140,000.00-140,000.00 <1% 500,000 555,000.00 555,000.00 - <1% 14,845,900.00 1,205,000.00 13,640,900.00 39

45. (4) (4.4) ( ) ( 2) ( 1) 7,000,000.00 - - 7,000,000.00 20% 16,555,237.81 - - 16,555,237.81 10% 30 41,459,959.32 (41,459,959.32) - - 10% 20 746,253.00 - - 746,253.00 10% 8,106,520.00 - - 8,106,520.00 <5 47,649,967.00-14,294,990.10 33,354,976.90 <5 350,033.00 4,490,044.00 2,500,000.00 2,340,077.00 <5% 121,867,970.13 (36,969,915.32) 16,794,990.10 68,103,064.71 1 2 16,794,990.10 (5) 24,167,121.85 117,192,284.93 (6) 3,122,167.60 14,264,670.97 (7) 548,267.72 183,463.52 87,155,093.89 118,040,129.00 4,490,044.00 285,899.80 219,004,838.56 140,136,174.77 (12,300,914.73) (7,585,849.18) (16,794,990.10) - 282,102,339.34 251,059,817.91 40

41 46. (1) (a) 5 (b) 200,000 (c) / % 22,722 41.19 (d)

46. - (d) (2) (a) 13,125,843.34 7,630,179.00 3,306,520.72 10,389,512.00-61,966.00 19,271.28-16,451,635.34 18,081,657.00 883,698.03 4,408,220.00-8,126,239.00 15,152.00 1,009,659.00-567,867.00 3,970,957.17-4,869,807.20 14,111,985.00 (b) 5,440,000.00-99,599,516.87-26,637,962.04-42

46. - (c) (d) (30,000,000.00) - (45,000,000.00) 30,000,000.00 4.779% 3,900,000.00 3,007,544.00 543,272.59 2,920,227.00-3,113,301.00 234,967.50 2,756,313.00 4,678,240.09 11,797,385.00-1,764,477.00-1,345,192.00 515,823.25-120,900.00-636,723.25 3,109,669.00 2% 3% 43

46. - (2) (e) - 6,015,281.00-11,042,802.77 2,249,475.20 1,224,884.84 30,890,657.50 - - 2,598,247.14-5,902,084.00 128,697.15-13,334,970.11 7,000,000.00-11,000,000.00-59,634.00 9,487,559.14 14,397,582.00 248,524.00-1,240,000.00-24,439,750.40 38,359,300.00 29,614,667.25 33,845,333.92 416,921.03 - - 358,161.00 416,921.03 358,161.00-892,145.00-872,366.00 707,367.47-38,196.00-745,563.47 1,764,511.00 (f) 2,501 2,475 44

46. - (2) (g) 4,834,550.00 50% 2005 12 31 (h) 49 47. - 11,200 10,799 48. 1 27,614 18,125 2 12,585 10,191 3 10,638 7,143 33,418 32,030 84,255 67,489 49. (1) 2,000 (2) 10,000,000.00 9,750,000.00 12,500,000.00 45

50. (1) 5 2005 12 19 2006 1 13 [2006]37 [2006]357 2006 1 20 A, A A A 10 A 3.5 14,636,160 2006 2 13 (2) 2005 9 YELLOW ROADWAY CORPORATION 2,500 1,000 25% 2006 1 51. 2004 3 2005 52. 2006 3 15 * * * * * * 46

2005 12 31 1 2005 12 31 250,952 1,900,128 2005 2005 250,952 1,900,128 ( ) (20,505) (31,019) ( ) - (9,866) ( ) 12,301 25,145 11,325 (158,986) 103 103 1,771 1,771 1,085 - - (24,804) - 66,397 5,328 5,713 1,770 656 264,130 1,775,238 2 25.27% 24.52% 0.8706 0.8706 8.79% 8.53% 0.3028 0.3028 13.21% 13.81% 0.4549 0.4549 9.11% 8.84% 0.3139 0.3139

2005 12 31 3 2005 1 1 2005 12 31 4,898,949.36 198,449.00 1,607,080.07 - (1,133,931.99) - (195,383.77) (195,383.77) (2,564,596.50) - 2,612,117.17 3,065.23 3,668,361.63 179,227.08 1,595,755.95 - (637.86) - (178,383.77) (178,383.77) (2,564,596.50) - 2,520,499.45 843.31 1,230,587.73 19,221.92 11,324.12 - (1,133,294.13) - (17,000.00) (17,000.00) - - 91,617.72 2,221.92 - - - - - - - - - - - - 122,492.08 - - - - - (3,111.49) - - - 119,380.59 - - - - - - - - - - - - - - - - - - - - - - - - - 122,492.08 - - - - - (3,111.49) - - - 119,380.59-1,205,000.00 1,205,000.00 16,794,990.1016,794,990.10 - - - - - - 17,999,990.10 17,999,990.10 - - 16,794,990.1016,794,990.10 - - - - - - 16,794,990.10 16,794,990.10 1,205,000.00 1,205,000.00 - - - - - - - - 1,205,000.00 1,205,000.00 - - - - - - - - - - - - 2,825,647.03 2,710,615.73 - - - - (2,799,048.39) (2,710,615.73) - - 26,598.64 - - - - - - - - - - - - - 2,731,726.03 2,710,615.73 - - - - (2,716,656.39) (2,710,615.73) - - 15,069.64-93,921.00 - - - - - (82,392.00) - - - 11,529.00 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 30%( 30%) 5%( 5%) 10%( 10%) 57% 15 34% 1-5 6-12 2005 9

SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. Report of the Auditors and Financial Statements For the year ended 31 December 2005

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. AUDITORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2005 CONTENTS PAGE(S) REPORT OF THE AUDITORS 1 BALANCE SHEET OF THE GROUP AND THE COMPANY 2-3 INCOME AND INCOME APPROPRIATIOFN STATEMENT OF THE GROUP AND THE COMPANY 4-5 CASH FLOW STATEMENT OF THE GROUP AND THE COMPANY 6-8 NOTES TO THE FINANCIAL STATEMENTS 9-53

DTT(A)(06)P0169 [Translation] AUDITORS' REPORT TO THE BOARD OF DIRECTORS OF SHANGHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. We have audited the accompanying balance sheets of the Company and the Group as of 31 December 2005 and the related statements of income and income appropriation and cash flows of the Company and the Group for the year then ended. The preparation of these financial statements is the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We planned and performed our audit in accordance with China's Independent Auditing Standards to obtain reasonable assurance as to whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting policies used and significant accounting estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements on pages 2 to 53 present fairly, in all material respects, the financial position of the Company and the Group as of 31 December 2005 and the results of its operations and cash flows for the year then ended in accordance with the requirements of the Accounting Standards for Business Enterprises and the Accounting System for Business Enterprises promulgated by the State. Deloitte Touche Tohmatsu CPA Ltd. Shanghai, China Chinese Certified Public Accountant Yang Hai Jiao Fan Hong Bin 15 March 2006 The auditors report and the accompanying financial statements are English translations of the Chinese auditors report and statutory financial statements prepared under accounting principles and practices generally accepted in the People s Republic of China. These financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles and practices generally accepted in other countries and jurisdictions. In case the English version does not conform to the Chinese version, the Chinese version prevails. - 1 -

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. BALANCE SHEET AT 31 DECEMBER 2005 The Group The Company NOTES 2005 2004 2005 2004 RMB RMB RMB RMB (Restated) (Restated) ASSETS CURRENT ASSETS Bank balances and cash 6 477,493,387.70 417,884,580.70 211,192,616.32 112,747,599.00 Short term investments 7-11,042,802.77-11,042,802.77 Dividends receivable 8 30,890,657.50 200,000.00 120,370,501.21 - Interest receivable 9-2,598,247.14-2,598,247.14 Accounts receivable 10 175,928,556.74 400,157,906.68 128,936.12 151,385.19 Other receivables 11 79,686,074.01 79,614,051.25 13,143,585.72 650,585.12 Prepayments 13 23,164,573.86 19,052,666.21 - - Inventories 14 28,216,389.64 13,550,376.30 191,735.55 199,975.80 Deferred expenses 15 3,218,964.79 2,692,790.19 12,734.73 12,626.28 Other current assets 21 4,230,666.67 4,230,666.67 - - Total current assets 822,829,270.91 951,024,087.91 345,040,109.65 127,403,221.30 LONG TERM INVESTMENTS Long-term equity investments 16 855,854,057.07 875,503,637.48 1,532,230,719.20 1,594,060,756.31 Include: Equipment investments difference 513,125,825.62 531,242,143.95 - - FIXED ASSETS Fixed assets - cost 17 1,951,657,538.00 1,772,069,136.40 107,270,658.98 111,904,451.15 Less: Accumulated depreciation 17 988,052,701.00 900,044,406.89 26,944,351.59 25,305,135.69 Fixed assets - net 17 963,604,837.00 872,024,729.51 80,326,307.39 86,599,315.46 Less: Impairment 17 26,598.64 2,825,647.03-2,710,615.73 Fixed assets net book value 17 963,578,238.36 869,199,082.48 80,326,307.39 83,888,699.73 Fixed assets under construction 18 42,707,689.45 16,890,433.82 - - Total fixed assets 1,006,285,927.81 886,089,516.30 80,326,307.39 83,888,699.73 INTANGIBLE ASSETS AND OTHER ASSETS Intangible assets 19 81,408,705.29 71,936,033.25 1,068,658.00 1,105,402.00 Long term deferred expenses 20 419,558.46 2,099,553.34 - - Others long term assets 21 25,384,000.58 29,614,667.25 - - Total intangible assets and other assets 107,212,264.33 103,650,253.84 1,068,658.00 1,105,402.00 TOTAL ASSETS 2,792,181,520.12 2,816,267,495.53 1,958,665,794.24 1,806,458,079.34 (Continued) 2

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. The Group The Company NOTES 2005 2004 2005 2004 RMB RMB RMB RMB (Restated) (Restated) LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Short term loans 22 51,076,000.08 41,124,055.72 - - Notes payable 23 33,750,000.00 98,900,000.00 - - Accounts payable 24 126,434,431.36 296,143,129.49 309,169.81 344,682.50 Advances from customers 24 83,278,075.37 59,467,206.62 257,876.58 224,764.90 Salaries and wages payable 1,343,434.96 2,132,298.70 - - Employee benefits payable 43,978,737.03 35,085,122.95 - - Dividends payable 25 21,028,604.58 8,312,344.99 13,162,564.00 1,383,526.80 Taxes payable 26 34,097,023.75 42,221,787.06 22,780,352.21 26,064,445.17 Other fees payable 256,127.94 133,005.87 364.93 375.40 Other payables 27 322,600,731.24 241,176,690.92 18,138,953.54 4,121,246.18 Provisions 28 9,114,031.00 21,460,920.20 3,888,329.80 14,867,419.00 Total current liabilities 726,957,197.31 846,156,562.52 58,537,610.87 47,006,459.95 MINORITY INTERESTS 165,096,139.44 210,659,313.62 - - SHAREHOLDERS' EQUITY Paid-in capital 29 551,610,107.00 551,610,107.00 551,610,107.00 551,610,107.00 Capital reserves 30 892,086,875.40 892,040,245.90 892,086,875.40 892,040,245.90 Surplus reserve 31 214,538,514.27 122,784,194.82 132,601,634.11 94,958,840.73 Including: Statutory public welfare fund 31 64,264,946.81 40,889,578.95 44,773,896.19 32,226,298.40 Retained earnings 32 76,409,654.60 82,695,050.27 158,346,534.76 110,520,404.36 Cash dividends declared after balance sheet date 32 165,483,032.10 110,322,021.40 165,483,032.10 110,322,021.40 Total shareholders' equity 1,900,128,183.37 1,759,451,619.39 1,900,128,183.37 1,759,451,619.39 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 2,792,181,520.12 2,816,267,495.53 1,958,665,794.24 1,806,458,079.34 The accompanying notes are part of the financial statements. The financial statements on pages 2 to 53 were signed by the following: Head of the Company: Chief Financial Officer: Head of Accounting Department: 3

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. INCOME AND INCOME APPROPRIATION STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2005 The Group The Company NOTES 2005 2004 2005 2004 RMB RMB RMB RMB (Restated) (Restated) Revenue 33 3,279,881,587.08 2,531,867,266.92 24,167,121.85 117,192,284.93 Less: Cost of sales 33 2,753,544,671.28 2,049,757,632.61 3,122,167.60 14,264,670.97 Sales taxes 33 46,111,054.22 31,162,796.97 1,223,356.09 2,308,468.36 Gross profit 480,225,861.58 450,946,837.34 19,821,598.16 100,619,145.60 Add: Other operating profit 13,151,222.78 8,817,288.71 300,000.00 - Less: Operating expenses 187,986,305.32 157,731,602.68 3,090,525.99 21,952,569.86 General and administrative expenses 137,096,666.75 172,116,922.83 23,372,571.47 89,196,078.76 Finance expenses 34 1,291,632.90 2,439,054.23 (1,300,241.51) 1,335,665.08 Profit from operations 167,002,479.39 127,476,546.31 (5,041,257.79) (11,865,168.10) Add: Investment income 35 177,691,840.21 185,514,254.10 282,102,339.34 251,059,817.91 Subsidy income 36 5,621,761.15 936,862.31 - - Non-operating income 37 19,011,614.10 4,953,248.73 78,986.40 51,587.69 Less: Non-operating expenses 38 1,669,727.38 4,984,156.41 35,015.94 3,729,755.27 Profit before tax 367,657,967.47 313,896,755.04 277,105,052.01 235,516,482.23 Less: Income tax 39 53,535,257.01 65,769,416.06 26,153,096.13 33,896,113.27 Minority interests 63,170,754.58 46,506,970.02 - - Net profit for the year 250,951,955.88 201,620,368.96 250,951,955.88 201,620,368.96 Add: Opening balance of retained earnings 82,695,050.27 45,221,182.04 110,520,404.36 49,465,112.15 Profit available for appropriation 333,647,006.15 246,841,551.00 361,472,360.24 251,085,481.11 Less: Appropriation of statutory surplus reserve 32 68,378,951.59 36,494,822.76 25,095,195.59 20,162,036.90 Appropriation of statutory public welfare fund 32 23,375,367.86 17,329,656.57 12,547,597.79 10,081,018.45 Profit available for shareholders' distribution 241,892,686.70 193,017,071.67 323,829,566.86 220,842,425.76 Less: Cash dividends declared after the balance sheet date 32 165,483,032.10 110,322,021.40 165,483,032.10 110,322,021.40 Retained earnings 76,409,654.60 82,695,050.27 158,346,534.76 110,520,404.36 (Continued) 4

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. Supplementary information The Group The Company 2005 2004 2005 2004 RMB RMB RMB RMB 1. Increase (decrease) of profit by adjusting current year profit 14,709,293.52 11,068,206.06 14,709,293.52 11,068,206.06 2. Increase (decrease) of profit by adjusting prior years profit - 3,079,053.69-3,079,053.69 Total 14,709,293.52 14,147,259.75 14,709,293.52 14,147,259.75 The accompanying notes are part of the financial statements. 5

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2005 The Group The Company NOTES 2005 2004 2005 2004 RMB RMB RMB RMB Cash flow from operating activities: Cash received from sales of goods or rendering of services 3,432,448,062.64 2,548,278,356.09 24,222,682.60 111,619,634.92 Other cash received relating to operating activities 43 22,817,305.42 50,577,598.29 477,741.51 3,178,962.16 Sub-total of cash inflows 3,455,265,368.06 2,598,855,954.38 24,700,424.11 114,798,597.08 Cash paid for goods and services 2,468,279,542.95 1,848,397,177.38 3,149,440.04 14,295,996.41 Cash paid to and on behalf of employees 310,045,482.60 261,487,320.09 22,240,079.97 40,985,188.13 Tax payments 113,855,681.32 80,010,191.78 31,009,184.43 13,212,761.75 Cash paid relating to other operating activities 44 112,376,933.28 126,614,019.09 465,088.41 30,478,089.03 Sub-total of cash outflows 3,004,557,640.15 2,316,508,708.34 56,863,792.85 98,972,035.32 Net cash flow from operating activities 450,707,727.91 282,347,246.04 (32,163,368.74) 15,826,561.76 Cash flow from investing activities: Cash received from disposal of investments disposal of subsidy or other 65,128,076.68 31,589,994.00 166,583,949.19 31,589,994.00 Cash received from return on investments 87,670,384.08 137,583,930.49 111,481,168.07 90,981,374.47 Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets 38,010,371.61 19,095,080.77 3,227,050.00 837,760.40 Net cash inflow from assets restructing - 61,400,038.56 - - Cash receipts relating to other investing activities 21, 37 16,230,666.67 4,230,666.67-183,463.52 Sub-total of cash inflows 207,039,499.04 253,899,710.49 281,292,167.26 123,592,592.39 Cash paid to acquire fixed assets, intangible assets and other long-term assets 444,843,960.88 176,863,984.98 140,797.00 5,376,247.66 Cash paid to acquire investments - from assets restructing 31,117,436.18 6,620,311.20 52,000,000.00 - Include:Cash paid to acquire associates 5 5,567,436.18 - - - Net cash outflow from assets restructuring - - - 19,665,057.66 Cash payments relating to other investing activities - - - 37,758,537.65 Cash payments for acquisition of subsidiary or other operating business divisions 41 21,029,647.82 - - - Sub-total of cash outflows 496,991,044.88 183,484,296.18 52,140,797.00 62,799,842.97 Net cash flow from investing activities (289,951,545.84) 70,415,414.31 229,151,370.26 60,792,749.42 (Continued) 6

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. The Group The Company NOTES 2005 2004 2005 2004 RMB RMB RMB RMB Cash flow from financing activities: Cash received from investor 28,000,000.00 8,000,000.00 - - Including: Cash received from minority investors of subsidiaries 28,000,000.00 8,000,000.00 - - Cash received from borrowings 71,000,000.00 162,975,000.00 - - Sub-total of cash inflows 99,000,000.00 170,975,000.00 - - Repayments of borrowings 51,048,055.64 291,981,925.83-105,000,000.00 Dividends paid, profit distributed or interest paid 163,545,432.81 7,184,486.28 98,542,984.20 2,448,970.50 Including: Cash payments to minority investors of subsidiaries 61,604,175.78 338,539.66 - - Sub-total of cash outflows 214,593,488.45 299,166,412.09 98,542,984.20 107,448,970.50 Net cash flow from financing activities (115,593,488.45) (128,191,412.09) (98,542,984.20) (107,448,970.50) Net increase (decrease) in cash and cash equivalents 45,162,693.62 224,571,248.26 98,445,017.32 (30,829,659.32) (Continued) 7

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. Supplemental information Reconciliation of net profit to cash flow from operating activities: The Group The Company NOTES 2005 2004 2005 2004 RMB RMB RMB RMB (Restated) (Restated) Net profit 250,951,955.88 201,620,368.96 250,951,955.88 201,620,368.96 Add: Minority Interests 63,170,754.58 46,506,970.02 - - Impairment losses on assets 17,268,138.18 (157,279.49) 16,794,990.10 - Depreciation of fixed assets 254,496,853.98 170,576,605.56 3,671,269.40 23,114,281.91 Amortization of intangible assets 2,921,815.13 2,098,883.35 36,744.00 728,366.70 Amortization of long term deferred expenses 1,679,994.88 1,100,710.53 - - Decrease (increase) in deferred expenses (2,829,436.04) (911,609.79) (108.45) (310,592.83) Losses (gains) on disposal or fixed assets, intangible assets and other long term assets (2,722,486.77) 3,025,519.01 31,919.94 3,634,638.93 Financial expenses (income) 3,398,272.83 5,477,126.85-2,425,342.50 Losses (gains) arising from investments (194,486,830.31) (185,514,254.10) (298,897,329.44) (251,059,817.91) Decrease (increase) in inventories (14,662,901.85) (919,511.20) 8,240.25 354,765.79 Decrease (increase) in receivables under operating activities 33,039,750.26 2,701,402.44 (1,286,114.14) (4,576,270.77) Increase (decrease) in payables under operating activities 50,481,847.16 36,742,313.90 (3,474,936.28) 39,895,478.48 Others 37 (12,000,000.00) - - - Net cash flow from operating activities 450,707,727.91 282,347,246.04 (32,163,368.74) 15,826,561.76 Investing and financing activities that do not involve cash receipts and payments Operating payables transferred to advance from buyer of equity 29,148,845.94 - - - Net increase (decrease) in cash and cash equivalents: Cash at the end of the year 44 463,047,274.32 417,884,580.70 211,192,616.32 112,747,599.00 Less: Cash at the beginning of the year 417,884,580.70 193,313,332.44 112,747,599.00 143,577,258.32 Net increase (decrease) in cash and cash equivalents 45,162,693.62 224,571,248.26 98,445,017.32 (30,829,659.32) The accompanying notes are part of the financial statements. 8

SHANHAI JIN JIANG INTERNATIONAL INDUSTRIAL INVESTMENT CO., LTD. NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2005 1. GENERAL Shanghai Jin Jiang International Industrial Investment Co., Ltd (the Company ) was established in the People s Republic of China (the PRC ) as a joint stock company limited which was reformed from Shanghai JIN JIANG Tower on 24 February 1993. The public shares to the society and the foreign capital shares issued by the company are being formally listed in Shanghai Stock Exchange. Its controlling shareholder is the Jin Jiang International (Group) Co., Ltd. (Herein after "Jin Jiang Group"). The Company is engaged in vehicle operating, transportation services, international freight forwarding and investment in government approved projects. (Each project should be submitted for approval). 2. SIGNIFICANT ACCOUNTING POLICIES, ACCOUNTING ESTIMATES AND BASIS OF CONSOLIDITION Accounting system and accounting standards adopted The Company has adopted the Accounting Standards for Business Enterprises, the Accounting System for Business Enterprises and the supplementary regulations thereto. Basis of accounting and principle of measurement The Company has adopted the accrual basis of accounting and uses the historical cost convention as the principle of measurement. Impairment loss will be accrued according to related regulation when it occurred. Accounting year The Company has adopted the calendar year as its accounting year, i.e. from January 1 to December 31. Recording currency The recording currency of the Company is Renminbi (RMB). Foreign currency translation Transactions denominated in foreign currencies are translated into RMB at the applicable rate of exchange ( market exchange rate ) prevailing at the beginning of the month in which the transaction occurs. Monetary assets and liabilities denominated in foreign currencies are translated into RMB at the market exchange rate prevailing at the balance sheet date. Exchange gains or losses incurred on specific borrowing for the acquisition or construction of a fixed asset before the fixed assets are ready for use are capitalized as part of the cost of fixed asset; other exchange gains or losses are dealt with as finance expenses. 9