AA

002158 2007-2009 EPS 0.34 0.45 0.50 2008 15% 2009 EPS 0.56 3 6 11.21 13.6 2008 25-30 PE 7.85 8. 4 2006 28 30 / 2005 2006 2007E 2008E 2009E ( ) 224 273 367 490 639 YoY % 9.5 22.2 34.4 33.4 30.4 ( ) 28 42 52 68 85/75 YoY% 76.4 50.5 23.4 32.2 24.47/9.8 EPS( ) 0.25 0.37 0.34 0.45 0.56/0.50 % 26.8 28.8 26.7 26.2 25.8 ROE% 32.5 33.36 12.73 15.48 17.32 1.31 1.54 3.65 3.97 4.28 11.2-13.6 7.85-8.4 021-68818867 huyl@citics.com 8 50.5 55.41 36.83 apital Harvest 55.41 36.83 0.56 0.37 0.56 0.37 38 25.25

1 2 2 3 4 4 5 5 5 5 7 8 9 1 9 2 9 3 10 4 10 10 1 10 2 11 3 11 11 12

CAPITAL HARVEST TECHNOLOGY LIMITED 1995 1 5,540.625 49.25% 5,540.625 36.82% CAPITAL HARVEST TECHNOLOGY LIMITED 5,540.625 49.25% 5,540.625 36.82% 56.25 0.5% 56.25 0.37% 56.25 0.5% 56.25 0.37% (A ) 3,800 25.25% 11,250 100% 15,050 100% CAPITAL HARVEST TECHNOLOGY LIMITED 1 1

, 2 3 2

2 2005 2006 2006 2005 2006 2006 100049 105326 5.27% 106561 105519-0.98% 18146 21616 19.12% 131325 134730 2.59% 509 900 76.82% 14559 20986 44.14% 1816476 2301084 26.68% - - - 21912989 28129604 28.37% - - - 45383325 42650880-6.02% - - - 2622188 2505480-4.45% - - - 50% 4 2006 twin screw 50 1500kW 3

2004 48% 2005 2010 10% 20% 30RT-500RT 20 40 2006-2010 20% 25% 10% 20% 24 5 10% 20% 4 3 2006 4

R 90kW~ 1465kW 26 A 7.5kW~315kW 0.5Mpa~1.6Mpa L 90m3/hr~330m3/hr-50 4 R A A 6,000 2,000 600 4,828 1,384 347 2006 4,665 925 297 46,270 15,925 64,767 21,584 1,473 1,924 2007 E 7,400 3,000 700 5 2008 8500 - - - 2009 10000 160 1075 30 2010 11400 550 1300 50 2011 13500 950 1650 100 2012 15000 1700 2000 200 2006 2.73 4186 15.31% 2005 2006 9.52% 22.21% 76.43% 50.48% 2004 17.38% 2006 28.85% 2005 54% 5

5 30,000 27,341 40% 25,000 22,373 32% 20,428 28.85% 20,000 26.77% 24% 22.21% 15,000 17.38% 16% 10,000 5,000 9.52% 4,186 2,781 1,577 8% 0 0% 6 2006 R 2006 79% A 12% 7 8 R 7.57% 15.82% 3 15%-25% R 2006 31.67% A 104% 2006 7.86% 6

L 2006 6 2004 84.94% 10.89% 0.41% 3.75% 2005 80.52% 11.47% 0.73% 7.28% 2006 87.09% 10.47% 0.78% 1.66% 7 2006 R LA A 5,746 38.84% 4,739 35.87% 4,060 28.84% 955 6.45% 730 5.53% 702 4.98% 982 6.63% 834 6.32% 1,225 8.70% 112 0.76% 87 0.66% 77 0.55% 2007 6 1,296 99% 2007 9 2005 2005 12 18 3.71% 7.21% 4.45% 2005 2006 7

8 R A A % % % 6,292 29.15% - - 138 7.18% 11,342 52.54% 1,088 73.87% 1,165 60.59% 3,951 18.31% 384 26.13% 366 19.02% - - - - 254 13.21% 21,585 100% 1,473 100% 1,924 100% 52% 2006 9 =4 6 10 90% 10 2006 1200 300 8

2006 1 10 4828 21616 22.34% 4665 19721 23.65% 27341 134730 20.29% 12 11 / 4,665 35.38% 1 2,791 21.16% 2 2,495 18.92% 3 2,144 16.26% 4 1,092 8.28% - 2 9

12 1994 1953 1993 Refcomp 3 1995 40,000 1996 3,500 34,388 2001 85% () 2005 20000 4 90kW 1465kW 7 17 1 4665 / 2791 / 2007 2006 2007 12% 2008 1 1 25% 15 8% 2495 / 2144 / 10

2008 15 2008 25% 2 3 48.91% 32.69% 18.30% 18% 2005 2007 6 1,296 99% 2008 5% 13% A 3 13 / R LA A LH - - 14 8144 2474 - - 10,618 18 3710 7088 2025-12,823 18 1550 750 2036 1120 5,456 36 600 924 1723 1182 4,429 24 14004 11236 5784 2302 33,326 11

1 2131 1830 2009 2010 22,800 1,645 3,750 2 2009 2009 2010 2011 2012 1,265 1,900 2,700 3,900 5,246 8,846 13,286 20,240 1,042 1,757 2,548 3,882 3 4 3000 25% 3 12.8% 12.5% 25%-30% 1 3 25%-18% 70%-50% 2009 3 34%-30% 2 25% 3 4 2007 2008 13% 2009 15% 25% 15 2004 2005 2006 2007E 2008E 2009E 20,428 22,373 27,341 36,747 49,020 63,922 16,876 16,380 19,449 26,937 36,160 47,442 2 4 5 7 10 13 3,550 5,989 7,887 9,803 12,851 16,468 600 1,286 1,278 1,610 2,147 2,722 1,085 1,442 1,837 2,389 3,088 3,970 12

2004 2005 2006 2007E 2008E 2009E 122 88 98 7 (80) (41) 1,743 3,173 4,675 5,798 7,695 9,818 85 140 143 150 170 200 1 2 5 5 5 5 2 49 11 16 20 22 1,826 3,266 4,812 5,937 7,850 10,001 250 485 626 772 1,020 2,500 /1500 1,577 2,781 4,186 5,165 6,829 7,501 /8500 11,250 11,250 11,250 15,050 15,050 15,050 EPS 0.14 0.25 0.37 0.34 0.45 0.50 /0.56 15050 EPS 0.34 0.45 0.50 2009 15% 0.56 3 6 11.21 13.6 2008 25-30 PE 7.85 8. 4 2006 28 30 16 06A 07E 08E 09E 06A 07E 08E 09E 15.81 0.26 0.37 0.52 0.55 36 42 31 32 15.04 0.23 0.39 0.46 0.56 24 50 39 46 10.93 0.34 0.39 0.46 0.56 33 28 24 20 15.04 0.23 0.30 0.39 0.00 67 50 39-24.00 0.13 0.28 0.42 0.00 185 86 57-7.34 0.05 0.00 0.00 0.00 0 0 0 0 24.85 0.31 0.55 0.82 0.54 81 46 30 46 30 17 () [ ] () [ ] 002103 30.41 2007-01-09 68.9394 002124 29.97 2007-04-02 132.9756 002104 24.79 2007-01-09 63.7011 002125 29.34 2007-04-02 232.3077 002105 29.99 2007-01-11 160.2941 002126 27.03 2007-04-17 143.9141 002106 18.69 2007-01-11 58.4 002127 26.86 2007-04-17 121.4894 002107 26.46 2007-01-23 94.0092 002128 16.33 2007-04-17 168.3673 002108 23.09 2007-01-23 84.0551 002129 29.96 2007-04-19 198.9673 002109 21.18 2007-01-25 51.0185 002130 27.58 2007-04-19 233.9695 002110 10.34 2007-01-25 75.6667 002131 29.76 2007-04-26 117.531 002111 29.75 2007-01-25 279.3103 002132 25 2007-04-26 112.375 002112 31.61 2007-02-07 79.4898 002133 29.81 2007-04-26 75.9259 002113 29.93 2007-02-07 84.4059 002134 29.87 2007-05-15 114.9758 002114 28.02 2007-02-14 206.9444 002135 21.33 2007-05-29 154.6875 13

() [ ] () [ ] 002115 28.59 2007-02-14 114.7541 002136 29.93 2007-05-29 247.7723 002116 29.91 2007-02-14 178.4884 002137 29.68 2007-06-12 212.1359 002117 23.31 2007-03-01 64.2023 002138 29.89 2007-06-12 152.2059 002118 23.04 2007-03-01 75.7322 002139 29.94 2007-06-28 472.5191 002119 27.21 2007-03-01 97.7477 002140 28.57 2007-07-11 147.6 002120 29.97 2007-03-05 178.865 002141 29.96 2007-07-19 197.8848 002121 20.75 2007-03-05 156.9091 002142 36.39 2007-07-18 140.5435 002122 21.01 2007-03-27 141.4138 002143 29.85 2007-07-19 195.9606 002123 23.92 2007-03-27 174.6032 14

2007 1. 6 6 300 2. 6 300 300 20% 300 5% 20% 300-10% 5% 300 10% 300 10% 300-10% 10% 300 10% : 6 (100004) 528 21 200120 12 B 33 518029 1 28 (010)84588720 (021)68818898 (0755)82485094 (852) 2237 6409 (010)84868307 (021)68818890 (0755)82485240 (852) 2104 6580 (010)84868367 Email: service@citics.com http://www.citics.com http://www.spcitic.com 15