600671 2005

2005... 1... 1... 1... 3... 6... 8... 9... 10... 14... 14... 61 1

2005 1 2 3 1 HANGZHOU TIAN-MU-SHAN PHARMACEUTICAL ENTERPRISE CO.,LTD. TMSP 2 3 3 0571-63722229 0571-63715401 E-mailtmsp@la.hz.zj.cn 4 3 3 311300 http://www.hztm.com tmsp@la.hz.zj.cn 5 http://www.sse.com.cn 3 6 A A A 600671 7 1989 3 13 2003 4 8 3301001003011 330124253930812 388 : : 7,836,261.30 3,671,008.54 1,303,178.19 86,023,306.44 1

2005-165,455.76 7,047,971.94 156,810.16 1,333,000.00 701,520.80 8,482,675.83 4,249,369.89 : : -352,784.39 1,333,000.00 2,611,307.98-144,889.92 810.16 764,995.03 314,618.45 2,367,830.35 : : 2005 2004 2003 (%) 238,707,452.37 209,710,405.66 13.83 196,621,969.49 7,836,261.30 10,671,189.21-26.57-9,280,925.57 3,671,008.54 6,903,399.00-46.82-11,665,418.24 1,303,178.19 4,779,525.50-72.73-9,777,197.92 0.022 0.053-58.49-0.127 % 1.77 3.12 1.35 1.53 0.63 2.16 % -6.37 1.53 0.63 2.16 % -6.37 8,482,675.83 1,354,260.59 526.37-41,134,951.27 0.082 0.013 530.77-0.40 2005 2004 2003 (%) 372,707,940.57 357,853,125.05 4.15 346,516,617.66 207,488,357.21 221,141,024.97-6.17 212,836,930.97 1.83 1.98-7.58 1.89 1.81 1.95-7.18 1.87-5.48 2

2005 : : 121,778,885.00 52,840,151.00 22,638,383.31 7,928,139.84 23,883,605.66 221,141,024.97 2,640,373.00 375,287.93 3,671,008.54 6,686,669.47 20,339,337.23 20,339,337.23 121,778,885.00 55,480,524.00 23,013,671.24 7,928,139.84 7,215,276.97 207,488,357.21 1) 2) 10% 3) 3,671,008.54 2004 19,964,049.30 4) 3,671,008.54 375,287.93 2,640,373.00 2004 19,964,049.30 1 : (%) (%) 1 28,828,911.00 23.67 28,828,911.00 23.67 28,828,911.00 23.67 28,828,911.00 23.67 2 10,634,289.00 8.74 10,634,289.00 8.74 3 4 18,900,000.00 15.52 18,900,000.00 15.52 58,363,200.00 47.93 58,363,200.00 47.93 1 63,415,685.00 52.07 63,415,685.00 52.07 2 3 4 63,415,685.00 52.07 63,415,685.00 52.07 121,778,885.00 100.00 121,778,885.00 100.00 3

2005 2 (1) (2) (3) 1 : 33,227 (%) 30.16 36,728,911( 7,900,000 ) 0 36,728,911 15,176,000( 12.46 11,000,000 ) 0 15,176,000 2.41 2,930,787 0 2,930,787 0.82 1,000,000 0 1,000,000 0.78 950,000 0 950,000 0.61 740,000 0 740,000 0.31 380,000 0 380,000 0.21 256,300 15,000 0 0.164 200,015 200,015 0 0.158 193,000 0 0 256,300 200,015 193,000 175,000 166,099 146,700 140,200 134,900 134,000 132,500 4

2005 1 2000 6 2005 4 19 2004 2005 (2) 2000 7 25 (3) 4 2 1 80,000,000 2005 4 14 2006 1 17, 28,828,911 23.67 7,900,000 6.49 28,828,911 23.67 7,900,000 6.49 2 3 5

2005 3 : : ( ) 61 2002-05-26 2005-05-26 6,899 6,899 0 4.62 51 2002-05-26 2005-05-26 1,740 1,740 0 4.56 54 2002-05-26 2005-05-26 0 0 0 2.82 33 2002-05-26 2005-05-26 0 0 0 2.70 41 2002-05-26 2005-05-26 0 0 0 2.16 40 2002-05-26 2005-05-26 0 0 0 3.90 64 2002-05-26 2005-05-26 0 0 0 3 48 2002-05-26 2005-05-26 0 0 0 3 40 2003-05-26 2005-05-26 0 0 0 3 61 2002-05-26 2005-05-26 0 0 0 2.82 57 2002-05-26 2005-05-26 1,600 1,600 0 2.46 54 2002-05-26 2005-05-26 0 0 0 0 38 2002-05-26 2005-05-26 0 0 0 2.00 49 2002-05-26 2005-05-26 0 0 0 0 38 2002-05-26 2005-05-26 0 0 0 3.60 52 2002-05-26 2005-05-26 0 0 0 2.22 26 2004-07-30 2005-05-26 0 0 0 2.22 / / / / / 10,239 10,239 0 / 45.08 : 2005 5 26 5 (1) 1965 1996 1989 1996 (2) 1980 1991 2002 10 6

2005 (3) 1991 (4) 2000 2001 2001 2002 5 (5) 1981 1992 1992 1995 1995 1998 1996 1998 10 2000 4 2000 12 2000 12 (6) 1996 (7) 1964 8 1978 11 1978 1998 9 1998 9 2005 (8) 1975 12 1978 2 1978 2 1984 12 1984 (9) 1982 12 1988 10 1988 10 1993 12 1993 12 1995 2 1995 2 1999 12 1999 12 (10) 1972 1996, 1992 1995 1996 1997 1997 (11) 1984 1996 1996 (12) 1972 1992 1992 (13) 1989 1997, 1997 (14) 1977 1987 1987 2000 2000 (15) 1989 1995 1996 1998 1998 2001 2001 2002 2002 5 2002 10 (16) 1980 1989 1989 2002 2002 5 (17) 2002 7 2004 7 2004 7 7

2005 2000 6 2000 6 2000 1 2 3 1,243 1 644 201 278 27 93 2 378 ( ) 208 2005 2004 8

2005 [2005]80 1 4 4 0 0 4 4 0 0 4 4 0 0 2 1) 2) 3) 4) 5) 2005 6 24 2004 2005 6 25 9

2005 1 2005 23,870.75 13.83% 8602.33 8.87% 367.10 46.82% 167.06 134.44 2 1 2 (%) % 122,301,224.60 56,664,086.58 53.67 15.40 20.15-1.78 90,241,575.22 74,715,636.10 17.20 23.63 25.28-1.09 23,565,341.50 3,470,605.57 85.27 17.09 18.63-0.19 17,445,069.51 8,322,475.18 52.29 19.80 13.01-4.09 5568.95 5875.60 3 () 160,409,904.92 4.79 21,012,543.61 68.84 31,643,735.90 21.65 578,913.05-88.59 1,254,265.10 114.10 7,982,506.01 1,840.78 15,233,383.78 25.85 4 35.58% 24.61% 10

2005 3 2005 2004 % 50,632,112.98 45,252,217.88 5,379,895.10 11.89 26,322,369.37 22,975,229.15 3,347,140.22 14.57 1,855,396.39 1,176,838.52 678,557.87 57.66 3,535,895.44 2,353,292.51 1,182,602.93 50.25 1 11.89% 2 14.57% 167.06 3 57.66% 2000 4 50.25% 2004 2003 1 3 4 2005 2004 8,482,675.83 1,354,260.59 7,128,415.24-11,161,878.85-7,405,302.67-3,756,576.18 7,134,262.61 2,834,457.79 4,299,804.82 4,249,369.89-3,223,396.09 7,472,765.98 2 GMP 5 3000.00 6291.17 4868.07 1556.34 247.96 2000.00 1418.90 146.69 1.71-151.00 500.00 704.01 178.15 106.10-60.52 megf 730.00 2277.24 1796.37 316.92-84.30 800.00 5429.74 9024.16 1552.59 438.37 700.00 456.40 262.20 13.91-170.36 11

2005 1 2 96 3 40.31% 46.71 1 2006 2006 2 2006 2005 10% 1 2006 2 3 2006 GMP 4 3 2006 4 9,115,006.20 4,366,417.9 32.39 12

2005 1 2 1) GMP 2,672,444.05 2006 1 11 GMP 2) 300,000.00, 3) 3 6,142,562.15 2005 12 31 7,234,628.38 1 1) 2005 4 22 2004 2004 2004 2004 2005 2004 2005 2004 2005 2005 4 26 2) 2005 5 23 ( ) 2005 2004 2004 2005 5 24 3) 2005 8 22 2005 2005 8 23 4) 2005 10 21 2005 2005 10 22 2 2005 8 18 2004 10 1.8 ( ) 2005 3,671,008.54 3,752,879.33 10% 375,287.93 3,919,556.36 7,215,276.97 7.65% 1,445,850.00 5,769,426.97 : 2005 : 13

2005 12005 4 22 2004 2004 2004 2004 2005 2005 22005 8 19 2005 32005 10 21 2005 2005 2005 2005 15 14.87 1 318.03 340.50 2 11807.76 2006 647.60 261.13 14

2005 1 318.03 340.50 2005 10 22 2 : : 647.60 11,807.76 100.00 0 30.20 1,411.16 2.05 1,515.84 577.13 2,272.23 / 1,356.98 17,006.99 2000 6 2005 4 19 747.60 11,807.76 647.60 2006 1 17 2006 12 31 3 5000 2005 1 7 2006 10 22 : : 15

2005 16 0 0 9,400,000.00 9,400,000.00 9,400,000.00 (%) 4.53 0 70 0 50 0 0 1 2005 4 19 2 2006 1 17 2006 12 31 32006 1 17, 200,000 13

2005 () ( [2006]330 ) 2005 12 31 2005 2005 2005 12 31 2005 2006 3 17 () 2005 12 31 : : : 37,275,472.86 33,026,102.97 17,994,941.20 15,117,843.71 95,006.08 94,195.92 3,837,245.31 7,340,802.61 835,780.00 42,220,389.74 34,947,110.18 10,548,714.78 11,896,609.19 115,153,580.85 114,390,897.26 152,168,817.82 155,162,970.36 2,160,180.01 5,959,660.38 85,718.40 112,972.71 51,881.70 53,569,556.47 44,422,369.79 18,900,878.65 14,357,499.10 17

2005 254,311,431.32 240,233,020.81 199,699,070.85 197,483,675.07 2,823,720.00 2,823,720.00 58,707,564.14 56,479,163.40 2,823,720.00 2,823,720.00 58,707,564.14 56,479,163.40 ( - ) ( - ) 177,919,262.87 170,589,265.09 78,357,069.67 76,324,262.44 72,114,598.28 68,332,320.14 28,057,234.88 26,082,233.91 105,804,664.59 102,256,944.95 50,299,834.79 50,242,028.53 105,804,664.59 102,256,944.95 50,299,834.79 50,242,028.53 2,733,461.03 3,407,324.78 2,672,444.05 2,315,258.55 108,538,125.62 105,664,269.73 52,972,278.84 52,557,287.08 7,034,663.63 9,132,114.51 6,018,426.67 6,889,652.15 7,034,663.63 9,132,114.51 6,018,426.67 6,889,652.15 372,707,940.57 357,853,125.05 317,397,340.50 313,409,777.70 89,400,000.00 66,400,000.00 80,000,000.00 60,000,000.00 300,000.00 346,399.00 15,687,647.32 10,879,162.77 2,733,328.37 2,502,292.17 5,645,539.28 4,231,762.63 4,109,654.73 3,639,544.55 2,111,999.80 1,440,937.85 1,105,441.88 312,030.52 5,465,417.45 5,222,007.30 3,888,604.35 3,735,956.56 30,603.36 4,824.60 30,603.36 4,824.60 6,190,544.98 4,097,426.13 3,640,609.60 2,480,397.12 66,711.66 69,262.97 36,528.42 30,940.50 6,665,498.40 11,429,338.52 17,333,380.96 22,645,040.04 958,733.92 572,448.44 120,865.00 89,630.84 132,522,696.17 104,693,570.21 112,999,016.67 95,440,656.90 800,000.00 800,000.00 18

2005 800,000.00 800,000.00 133,322,696.17 105,493,570.21 112,999,016.67 95,440,656.90 ( ) 31,896,887.19 31,218,529.87 121,778,885.00 121,778,885.00 121,778,885.00 121,778,885.00 121,778,885.00 121,778,885.00 121,778,885.00 121,778,885.00 55,480,524.00 52,840,151.00 55,480,524.00 52,840,151.00 23,013,671.24 22,638,383.31 22,962,552.16 22,587,264.23 7,928,139.84 7,928,139.84 7,911,100.15 7,911,100.15 7,215,276.97 23,883,605.66 4,176,362.67 20,762,820.57 19,964,049.30 19,964,049.30 ( ) ( ) 207,488,357.21 221,141,024.97 204,398,323.83 217,969,120.80 372,707,940.57 357,853,125.05 317,397,340.50 313,409,777.70 : : : 19

2005 2005 1-12 : : : 238,707,452.37 209,710,405.66 75,951,123.49 67,097,920.41 150,850,893.26 128,827,961.96 23,570,343.66 20,138,823.64 1,833,252.67 1,869,450.35 1,187,371.36 1,156,606.46-86,023,306.44 79,012,993.35 51,193,408.47 45,802,490.31 - -165,455.76 40,464.62 36,640.46-361.20 : 50,632,112.98 45,252,217.88 36,431,968.28 31,471,073.57 26,322,369.37 22,975,229.15 12,380,968.08 12,555,715.41 1,855,396.39 1,176,838.52 607,590.97-297,806.41-7,047,971.94 9,649,172.42 1,809,521.60 2,073,146.54-156,810.16-96,137.41 2,333,400.74 4,488,651.10 1,333,000.00 1,508,865.00 550,000.00 80,000.00 10,126.00 59,630.11 12,596.97 711,646.80 450,340.91 221,229.16 175,267.88-7,836,261.30 10,671,189.21 4,471,693.18 6,479,126.73 3,535,895.44 2,353,292.51 718,813.85 21,405.95 629,357.32 1,414,497.70 ( ) - 3,671,008.54 6,903,399.00 3,752,879.33 6,457,720.78 23,883,605.66 19,394,971.78 20,762,820.57 16,719,864.91 27,554,614.20 26,298,370.78 24,515,699.90 23,177,585.69 375,287.93 645,772.08 375,287.93 645,772.08 322,886.04 322,886.04 ( ) 27,179,326.27 25,329,712.66 24,140,411.97 22,208,927.57 1,445,850.00 1,445,850.00 1,445,850.00 1,445,850.00 18,518,199.30 18,518,199.30 257.00 257.00 ( 7,215,276.97 - ) 23,883,605.66 4,176,362.67 20,762,820.57 1. 20

2005 2. 3. ( ) 4. ( ) 5. 6. : : : 21

2005 2005 1-12 : : : 273,793,551.51 90,999,415.33 462,289.01 3,588,155.05 3,070,367.57 277,843,995.57 94,069,782.90 156,534,453.00 23,553,163.29 21,768,888.07 8,506,532.57 22,286,193.66 12,628,905.06 68,771,785.01 47,333,435.02 269,361,319.74 92,022,035.94 8,482,675.83 2,047,746.96 156,000.00 156,000.00 68,896.11 63,286.11 153,924.63 79,632.58 378,820.74 298,918.69 11,540,699.59 4,162,204.37 11,540,699.59 4,162,204.37-11,161,878.85-3,863,285.68 120,400,000.00 110,000,000.00 120,400,000.00 110,000,000.00 97,400,000.00 90,000,000.00 15,865,737.39 15,307,363.79 113,265,737.39 105,307,363.79 7,134,262.61 4,692,636.21-205,689.70 4,249,369.89 2,877,097.49 1 3,671,008.54 3,752,879.33 ( - ) 629,357.32 1,928,735.00 433,673.02 22

2005 9,337,655.11 3,584,143.87 2,097,450.88 871,225.48 338,980.82 (: ) 352,784.39 99,782.63 1,808,931.60 600,844.85-156,000.00-2,333,400.74-10,130,655.40-4,579,433.38 ( ) -1,372,731.84 4,807,462.07 ( ) -22,840.59-5,189,430.17 ( ) 8,482,675.83 2,047,746.96 2 3 37,275,472.86 17,994,941.20 33,026,102.97 15,117,843.71 4,249,369.89 2,877,097.49 : : : () 2005 1989 3 3301001003011 14375040 1992 11 [1993]25 [93]2053, 1993 8 23 121,778,885.00 A 63,415,685.00 23

2005 :, 1 1 12 31 3 1 2 1 6% 2 : 24

2005 1 2 1 2 3 4 1 20% 20%20% 20%20% 20% 2 10 10 [2003]10 10 -- 3 4 25

2005 1 (1) (2) (3) 2 3 3% % 15-45 6.47-2.16 12-14 8.08-6.93 12-14 8.08-6.93 12 8.08 5-8 19.4-12.13 4 1 2 3 1 3 2 3 ( ) 1 26

2005 2 1 1) 2) 3) 2 3 3 3 1 2 1 2 3 10 3 1 2 1 2 1 27

2005 2 3 (1) (2) 17% 5% 5%7% 4% 33% 28

2005 () ( ) ( ) 60 2,000 1,400 70% 3,000 1,530 51% 45 500 360 100% [] 730 657 90% 38 800 720 90% 52 700 500 71.43% 800 1601B [] 72% 100% 2005 6 24 2004 2004 2004 10% 645,772.08 5% 322,886.04 2004 12 31 102,878,885 () 10 1.80 18,518,199.30 2004 12 31 18,900,000 () 7.65% 1,445,850.00 2006 3 17 2005 2005 10% 375,287.93 2005 12 31 18,900,000 () 7.65% 1,445,850.00 () 1. 37,275,472.86 1 29

2005 28,113.65 23,519.65 37,247,359.21 32,994,483.32 8,100.00 37,275,472.86 33,026,102.97 2 440,969.18 8.0702 3,558,709.48 165,761.93 8.2765 1,371,928.61 3,558,709.48 1,371,928.61 2 95,006.08 (1) 100,000.00 4,993.92 95,006.08 100,000.00 5,804.08 94,195.92 100,000.00 4,993.92 95,006.08 100,000.00 5,804.08 94,195.92 (2) 100,000.00 95,006.08 100,000.00 95,006.08 (3) 1) 5,804.08 810.16 4,993.92 5,804.08 810.16 4,993.92 2) 2005 12 30 30

2005 3. 3,837,245.31 1 3,837,245.31 6,390,802.61 950,000.00 3,837,245.31 7,340,802.61 2 5% (5%) 4. 42,220,389.74 1 (%) (%) 1 41,839,529.85 89.44 2,949,461.69 38,890,068.16 32,599,382.40 87.06 1,955,962.94 30,643,419.46 1-2 1,439,580.95 3.08 121,546.53 1,318,034.42 1,659,153.53 4.43 99,549.21 1,559,604.32 2-3 1,237,046.76 2.64 871,494.31 365,552.45 1,329,349.52 3.55 79,760.97 1,249,588.55 3 2,265,904.25 4.84 619,169.54 1,646,734.71 1,858,570.35 4.96 364,072.50 1,494,497.85 46,782,061.81 100.00 4,561,672.07 42,220,389.74 37,446,455.80 100.00 2,499,345.62 34,947,110.18 2 5 8,493,683.21 18.15% 3 5% (5%) 4 1) 887,470.74 243,476.90 467,116.93 268,679.01 1,866,953.58 2) 38,462.76 3 2005 12 16 5 66,039.88 8.0702 532,955.04 31,672.94 8.2765 262,141.09 532,955.04 262,141.09 31

2005 5. 115,153,580.85 (1) (%) (%) 1 9,152,294.31 7.47 549,137.66 8,603,156.65 32,573,067.94 26.77 1,954,384.08 30,618,683.86 1-2 31,449,052.74 25.65 1,886,943.16 29,562,109.58 88,116,038.93 72.41 5,286,962.33 82,829,076.60 2-3 81,192,634.63 66.24 4,871,558.08 76,321,076.55 29,512.15 0.02 1,770.73 27,741.42 3 782,387.70 0.64 115,149.63 667,238.07 973,824.87 0.80 58,429.49 915,395.38 122,576,369.38 100.00 7,422,788.53 115,153,580.85 121,692,443.89 100.00 7,301,546.63 114,390,897.26 (2) 118,077,644.85 118,077,644.85 3 5 120,408,806.07 98.23% (4) 5% (5%) [] 118,077,644.85 118,366,655.03 118,077,644.85 118,366,655.03 [] 1 (5) 72,559.97 6. 2,160,180.01 (1) (%) (%) 1 2,042,670.70 94.56 5,828,650.42 97.80 1-2 131,009.96 2.20 2-3 117,509.31 5.44 2,160,180.01 100.00 5,959,660.38 100.00 2 5% 5% 32

2005 3 1 1 117,509.31 7. 53,569,556.47 (1) 4,791.00 4,791.00 152,941.11 152,941.11 17,079,065.90 165,933.45 16,913,132.45 13,135,864.82 364,148.09 12,771,716.73 658,867.64 658,867.64 647,226.70 647,226.70 37,396.36 37,396.36 13,014.26 13,014.26 32,456,419.87 161,699.78 32,294,720.09 25,941,429.39 217,508.33 25,723,921.06 3,660,648.93 3,660,648.93 5,113,549.93 5,113,549.93 53,897,189.70 327,633.23 53,569,556.47 45,004,026.21 581,656.42 44,422,369.79 (2) (3) (4) 1 364,148.09 198,214.64 165,933.45 217,508.33 140,091.83 195,900.38 161,699.78 581,656.42 140,091.83 394,115.02[] 327,633.23 [] 2) 8. 2,823,720.00 (1) 3,323,720.00 500,000.00 2,823,720.00 3,323,720.00 500,000.00 2,823,720.00 3,323,720.00 500,000.00 2,823,720.00 3,323,720.00 500,000.00 2,823,720.00 33

2005 (2) 1) 50 1.67% 500,000.00 260 0.89% 1,600,000.00 1,600,000.00 981,975 0.0062% 1,223,720.00 1,223,720.00 3,323,720.00 2,823,720.00 2 a. 500,000.00 500,000.00 500,000.00 500,000.00 b. 2005 12 31 9. 177,919,262.87 1 78,132,513.32 5,048,178.32 447,070.00 82,733,621.64 27,093,874.49 322,465.05 1,391,170.00 26,025,169.54 56,966,454.50 8,233,616.56 3,587,028.80 61,613,042.26 7,872,159.58 896,183.35 6,975,976.23 524,263.20 47,190.00 571,453.20 170,589,265.09 13,651,449.93 6,321,452.15 177,919,262.87 2 10,770,238.93 3 677,561.75 5,340,457.40 303,433.00 4 5 19,278,280.85 4,761,889.68 14,516,391.17 34

2005 3,251,552.26 2,186,597.45 1,064,954.81 22,529,833.11 6,948,487.13 15,581,345.98 6 1,305,541.39 1,124,129.76 181,411.63 1,875,629.79 1,634,754.37 240,875.42 5,173,525.52 4,002,692.86 1,170,832.66 59,500.00 48,500.00 11,000.00 8,414,196.70 6,810,076.99 1,604,119.71 (7) 3,608,311.57 3,500,062.22 108,249.35 4,804,436.01 4,660,302.93 144,133.08 10,280,030.82 9,971,629.90 308,400.92 1,133,035.00 1,099,043.95 33,991.05 93,952.57 91,133.99 2,818.58 19,919,765.97 19,322,172.99 597,592.98 (8) (9) 15,977,650.27 1 (10) 1,114,582.85 981,501.65 8,794,187.16 5,188,127.56 14,151,095.38 10,229,669.42 3 11 10 72,114,598.28 23,723,525.94 2,385,459.20 433,657.90 25,675,327.24 15,046,006.61 1,532,735.20 1,319,765.55 15,258,976.26 25,981,473.49 4,826,775.91 3,338,329.36 27,469,920.04 35

2005 3,314,160.02 528,300.75 463,624.16 3,378,836.61 267,154.08 64,384.05 331,538.13 68,332,320.14 9,337,655.11 5,555,376.97 72,114,598.28 11 105,804,664.59 57,058,294.40 54,408,987.38 10,766,193.28 12,047,867.88 34,143,122.22 30,984,981.01 3,597,139.62 4,557,999.56 239,915.07 257,109.12 105,804,664.59 102,256,944.95 12. 2,733,461.03 1 GMP 2,672,444.05 2,672,444.05 61,016.98 61,016.98 3 1,092,066.23 1,092,066.23 2,315,258.55 2,315,258.55 2,733,461.03 2,733,461.03 3,407,324.78 3,407,324.78 2 ( ) GMP 2,672,444.05 2,672,444.05 1,100.00 24.29% 61,016.98 61,016.98 3 1,092,066.23 6,142,562.15 7,234,628.38 2,315,258.55 1,220,352.00 3,535,610.55 3,407,324.78 10,096,375.18 10,770,238.93 2,773,461.03 3 36

2005 13. 7,034,663.63 (1) 5,060,663.63 5,060,663.63 5,194,114.19 5,194,114.19 260,000.32 260,000.32 1,974,000.00 1,974,000.00 3,678,000.00 3,678,000.00 7,034,663.63 7,034,663.63 9,132,114.51 9,132,114.51 (2) 7,502,085.73[] 5,194,114.19 133,450.56 5,060,663.63 2,441,422.10 36.5-40 1,300,000.00 260,000.32 260,000.32 1,300,000.00 8,520,000.00 3,678,000.00 1,704,000.00 1,974,000.00 6,546,000.00 4 17,322,085.73 9,132,114.51 2,097,450.88 7,034,663.63 10,287,422.10 []: 2005 12 31 3,434,814.00 2,505,419.19 (3) 2,861,272.73 2,263,239.96 3 (4) 14. 89,400,000.00 69,400,000.00 56,400,000.00 20,000,000.00 10,000,000.00 89,400,000.00 66,400,000.00 15. 300,000.00 (1) 300,000.00 346,399.00 300,000.00 346,399.00 (2) 5% 5% 37

2005 16. 15,687,647.32 5% 5% 297,347.31 64,169.08 297,347.31 64,169.08 17. 5,645,539.28 1 5% 5% 2 1,926.03 8.2765 15,940.79 15,940.79 18 2,111,999.80 2005 2005 12 19. 30,603.36 30,603.56 4,824.60 30,603.36 4,824.60 20. 6,190,544.98 1,387,023.72 1,056,958.25 17% 32,393.90 44,178.55 5% 82,246.00 62,378.44 99,735.40 7%5% 3,571,100.99 2,771,034.67 33% 1,136,008.08[] 43,046.46 1,639.85 226.80 6,190,544.98 4,097,426.13 38

2005 []: 2004 1,128,649.02 2006 1 13 21 66,711.66 42,511.21 58,705.21 4% 19,824.86 9,132.13 0.1% 4,375.59 1,425.63 66,711.66 69,262.97 22. 6,665,498.40 5% 5% 23. 958,733.92 819,113.92 469,808.10 139,620.00 92,315.34 10,325.00 958,733.92 572,448.44 24 800,000.00 1 800,000.00 800,000.00 800,000.00 800,000.00 2 800,000.00 [2003]54 [2003]48 GAP 2005 12 31 39

2005 25. 121,778,885.00 +- (%) (%) 1 28,828,911.00 23.67 28,828,911.00 23.67 2 10,634,289.00 8.74 10,634,289.00 8.74 3 418,900,000.00 15.52 18,900,000.00 15.52 58,363,200.00 47.93 58,363,200.00 47.93 163,415,685.00 52.07 63,415,685.00 52.07 2 3 4 63,415,685.00 52.07 63,415,685.00 52.07 121,778,885.00 100.00 121,778,885.00 100.00 26 55,480,524.00 49,993,606.00 49,993,606.00 390,000.00 390,000.00 51,000.00 51,000.00 2,456,545.00 2,589,373.00 5,045,918.00 52,840,151.00 2,640,373.00 55,480,524.00 1 51,000.00 [2005]149 2005 2005 12 21 100,000.00 51,000.00 40

2005 2 2,589,373.00, 4 1 27. 23,013,671.24 13,644,911.30 375,287.93[] 14,020,199.23 7,928,139.84 7,928,139.84 1,065,332.17 1,065,332.17 22,638,383.31 375,287.93 23,013,671.24 [] 2006 3 17 2005 2005 10% 375,287.93 28. 7,215,276.97 (1) 23,883,605.66 3,671,008.54 20,339,337.23 7,215,276.97 (2) 1 2 2004 2004 7.65% 1,445,850.00 2004 12 31 102,878,885 () 10 1.80 18,518,199.30 2006 3 17 2005 2005 10% 375,287.93 3 1,445,850.00 2006 3 17 2005 2005 12 31 18,900,000 () 7.65% 1,445,850.00 41

2005 () 1 / 238,707,452.37/150,850,893.26 (1) 122,301,224.60 105,849,030.39 90,241,575.22 72,990,680.62 17,963,733.62 19,439,293.80 8,200,918.93 11,431,400.85 238,707,452.37 209,710,405.66 238,707,452.37 209,710,405.66 56,664,086.58 47,160,795.91 74,715,636.10 59,640,500.91 14,794,486.34 15,492,643.21 4,676,684.24 6,534,021.93 150,850,893.26 128,827,961.96 150,850,893.26 128,827,961.96 (2) 161,002,104.92 153,075,850.22 21,012,543.61 12,445,266.14 31,643,735.90 26,012,725.54 578,913.05 5,075,339.41 1,254,265.10 585,841.84 7,982,506.01 411,303.19 15,233,383.78 12,104,079.32 238,707,452.37 209,710,405.66 238,707,452.37 209,710,405.66 42

2005 99,785,827.81 91,408,376.33 13,652,354.22 8,316,419.91 19,285,351.96 14,594,091.79 199,652.46 3,991,052.13 798,353.36 274,312.53 6,066,918.63 124,895.07 11,062,434.82 10,118,814.20 150,850,893.26 128,827,961.96 150,850,893.26 128,827,961.96 (3) 5 54,776,479.64 22.94% 2 1,833,252.67 188,702.50 222,471.97 5% 1,022,844.18 1,023,773.38 7%5% 621,705.99 623,205.00 4% 1,833,252.67 1,869,450.35 3. -165,455.76 2,389,008.57 2,562,667.61-173,659.04 83,599.87 61,317.34 22,282.53 18,162.33 18,162.33 10,610.00 2,406.72 8,203.28 683.76 664.00 19.76 2,399,618.57 2,565,074.33-165,455.76 102,445.96 61,981.34 40,464.62 4. 1,855,396.39 4,368,474.51 3,621,432.05 43

2005 2,765,232.61 2,520,530.15 205,689.70 6,811.80 46,464.79 69,124.82 1,855,396.39 1,176,838.52 5. 156,810.16 (1) 156,000.00 130,000.00 810.16-5,804.08-220,333.33 156,810.16-96,137.41 (2) 6. 1,333,000.00 1 1,300,000.00 1,500,000.00 33,000.00 8,865.00 1,333,000.00 1,508,865.00 2 1 1,300,000.00 [2005]42 2005 4 300,000.00 [2005]857 2005 11 100,000.00 [2005]208 2005 12 40,000.00 [2005]35 2005 3 30,000.00 44

2005 [2005]48 2005 4 50,000.00 [2004]379 2005 4 30,000.00 ( ) [2005]1043 2005 12 400,000.00 [2005]1089 2005 12 250,000.00 [2005]609 2005 10 100,000.00 2 33,000.00 [2005]625 2005 9 33,000.00 7. 10,126.00 10,126.00 43,308.14 12,596.97 3,725.00 10,126.00 59,630.11 8. 711,646.80 203,846.49 159,523.93 86,540.40 30,500.00 352,784.39 152,991.21 3,100.00 100,000.00 22,478.41 1,175.77 42,897.11 6,150.00 711,646.80 450,340.91 () 1. 45

2005 23,459,933.17 8,431,331.66 4,782,916.80 1,384,007.76 3,511,258.60 957,313.94 1,907,376.38 44,434,138.31 () 1. 10,548,714.78 1 (%) (%) 1 10,515,465.16 93.70 630,927.91 9,884,537.25 11,576,833.87 91.47 694,610.00 10,882,223.87 1-2 594,283.81 5.30 35,657.03 558,626.78 572,003.83 4.52 34,320.23 537,683.60 2-3 98,739.13 0.88 5,924.35 92,814.78 449,066.29 3.55 26,943.98 422,122.31 3 13,548.90 0.12 812.93 12,735.97 58,063.20 0.46 3,483.79 54,579.41 11,222,037.00 100.00 673,322.22 10,548,714.78 12,655,967.19 100.00 759,358.00 11,896,609.19 2 5 1,134,628.23 10.11% 3 5% (5%) 2. 152,168,817.82 1 (%) (%) 1 58,745,802.27 34.46 11,603,892.29 47,141,909.98 84,935,066.30 49.10 12,540,963.31 72,394,102.99 1-2 30,545,119.44 17.91 1,832,707.17 28,712,412.27 88,045,806.56 50.89 5,282,748.39 82,763.058.17 2-3 81,179,453.58 47.62 4,870,767.21 76,308,686.37 3 6,180.00 0.01 370.80 5,809.20 6,180.00 0.01 370.80 5,809.20 170,476,555.29 100.00 18,307,737.47 152,168,817.82 172,987,052.86 100.00 17,824,082.50 155,162,970.36 46

2005 (2) 118,077,644.85 22,722,285.53 15,158,358.58 14,111,578.66 170,069,867.62 (3) 5 170,196,820.12 99.83% (4) 5% 5% 118,077,644.85 118,366,655.03 118,077,644.85 118,366,655.03 (5) 2005 12 31 7,040,148.33 16,028,794.00, -8,988,645.67 15,158,358.58 2005 605,208.15 8,383,437.52 8,988,645.67 3. 58,707,564.14 (1) 55,883,844.14 55,883,844.14 53,655,443.40 53,655,443.40 3,323,720.00 500,000.00 2,823,720.00 3,323,720.00 500,000.00 2,823,720.00 59,207,564.14 500,000.00 58,707,564.14 56,979,163.40 500,000.00 56,479,163.40 (2) 1) a. 90% 20 7,200,000.00 7,736,472.43 14,936,472.43 47

2005 72% 20 3,600,000.00-3,600,000.00 [] 90% 20 6,570,000.00-3,676,251.27 2,893,748.73 51% 20 15,300,000.00 10,381,492.68 51,000.00 25,732,492.68 70% 20 14,000,000.00-4,762,657.48 9,237,342.52 71.43% 10 5,000,000.00-1,916,212.22 3,083,787.78 51,670,000.00 4,162,844.14 51,000.00 55,883,844.14 [] 2005 12 31-8,988,645.67 b. 10,991,179.81 3,945,292.62 14,936,472.43 3,652,432.93-758,684.20 2,893,748.73 24,416,885.22 1,264,607.46 51,000.00 25,732,492.68 10,294,316.45-1,056,973.93 9,237,342.52 4,300,628.99-1,216,841.21 3,083,787.78 53,655,443.40 2,177,400.74 51,000.00 55,883,844.14 2) 72% 100% 3) (3) 1 1.67% 0.89% 1,600,000.00 1,600,000.00 0.0062% 1,223,720.00 1,223,720.00 2,823,720.00 2,823,720.00 48

2005 2 a. 500,000.00 500,000.00 500,000.00 500,000.00 b. 2005 12 31 () 1. 75,951,123.49 (1) 71,839,045.49 62,417,879.24 4,112,078.00 4,680,041.17 75,951,123.49 67,097,920.41 (2) 5 9,493,149.80 12.49% 2. 23,570,343.66 22,826,311.02 19,036,508.37 744,032.64 1,102,315.27 23,570,343.66 20,138,823.64 3. 2,333,400.74 (1) 156,000.00 130,000.00 2,177,400.74 4,578,984.43-220,333.33 2,333,400.74 4,488,651.10 (2) 49

2005 () 1 (1) 80 3 [] 60 [] 45 38 52 800 1601B [] ()1 (2) 80,000,000.00 80,000,000.00 50,000,000.00 50,000,000.00 20,000,000.00 20,000,000.00 30,000,000.00 30,000,000.00 5,000,000.00 5,000,000.00 7,300,000.00 7,300,000.00 8,000,000.00 8,000,000.00 7,000,000.00 7,000,000.00 50

2005 (3) % % % 36,728,911.00 30.16 36,728,911.00 30.16 36,728,911.00 30.16-36,728,911.00 30.16 14,000,000.00 70.00 14,000,000.00 70.00 15,300,000.00 51.00 15,300,000.00 51.00 3,600,000.00 72.00 3,600,000.00 72.00 6,570,000.00 90.00 6,570,000.00 90.00 7,200,000.00 90.00 7,200,000.00 90.00 5,000,000.00 71.43 5,000,000.00 71.43 2 [] [] () 1. 3,180,282.73 2,356,440.07 3,405,005.04 3,022,227.17 6,585,287.77 5,378,667.24 2 51

2005 3. ( ) ( ) % 1 118,077,644.85 118,366,655.03 96.32 97.27 118,077,644.85 118,366,655.03 96.32 97.27 2 297,347.31 64,169.08 1.90 0.59 350,416.65 613,853.77 2.23 5.64 647,763.96 678,022.85 4.13 6.23 4. 1 6,476,043.80 6,765,053.98 6,635,053.98 118,077,644.85 5.58% 6,476,043.80 2.25% 2,611,307.98 3,864,735.82 33% 1,275,362.82 2,589,373.00 2004 5,815,161.76 2 100 100 3 1) 200.00 200.00 2006.01.11 200.00 200.00 2006.08.21 80.00 80.00 2006.03.17 [1] [2] 60.00 60.00 2006.09.17 52

2005 500.00 400.00 2006.03.30 [3] 1,040.00 940.00 200.00 30.00 2006.04.08 [3] 200.00 30.00 [1] [2] [3]2003 6 16 2003 6 16 2006 6 15 1,000 2005 12 31 400 30 2) 1,000.00 1,000.00 1,000.00 1,000.00 2006.02.17 1,000.00 1,000.00 2006.06.06 1,000.00 1,000.00 2006.10.22 1,000.00 1,000.00 1,000.00 2006.01.06 [1] 1,000.00 1,000.00 2006.06.09 [2] 8,000.00 5,000.00 [1] [2] 53

2005 42004 12 27 252 380 2005 12 31 125 255 5 3,447,610.55 2005 12 31 62005 15 45.10 2004 10 33.33 2004 3 5 3 4 2 4 5 3 2005 2005 46,200.00 45,600.00 28,200.00 27,000.00 39,200.00 21,600.00 28,200.00 24,600.00 20,041.00 30,000.00 30,000.00 30,000.00 36,000.00 22,200.00 22,200.00 451,041.00 54

2005 12005 960.54 535.54 1,000.00 1,000.00 2006.04.20 [1] 78 980.70 719.48 1,000.00 1,000.00 2006.10.29 [2] 1,941.24 1,255.02 2,000.00 2,000.00 [1]2005 4 11 2005 4 11 2006 4 10 78 11,557.17 00046610004665 7,883,323.50 21,643.94 [2002] 010342, 1,722,108.52 1,000 2005 12 31 1,000 [2]2005 12 15 2005 12 15 2008 12 15 78 11,494.07 00046580004660 8,094,326.77 21,525.76 [2002] 010342, 1,712,705.48 1,000 2005 12 31 1,000 2 2005 12 31 970.00 4.76% 70% 55

2005 3 ()431 () - 736,041.05 23 2004 7 29 2004 9 8 [2004] 910 2005 2005 12 18 736,041.05 1 [1999]21 [2000]63 2000 6 22 2000 6 28 2005 1 11 [2005]1 56

2005 2005 4 14 3301851011995 2005 4 14 2006 4 13 8000 2005 4 19 2006 1 18 2006 1 17 28,828,911 23.67% 7,900,000 6.49% 3.6399 1.08 113,293,380.00 28,828,911 23.67% 7,900,000 6.49% 2 2002 6 2005 1,781,473.78-605,208.15 2005 12 31 7,040,148.33 16,028,794.00-8,988,645.67 2005 12 31-15,158,358.58 2005 605,208.15 8,383,437.52 8,988,645.67 3 1 1,114,582.85 2005 12 31 2 4,631,030.50 4,163,156.66 2005 12 31 3 4 14,151,095.38 2005 12 31 1 1,550,000.00 2005 12 31 2 1,311,272.73 2005 12 31 57

2005 4 2005 2 LANSU INTENATIONAL.CO 2005 12 31 467,116.93 467,116.93 1 ---- 2004 + - 2005-352,784.39 1,333,000.00 2,611,307.98-144,889.92 810.16 3,447,443.83-764,995.03[1] - 314,618.45[2] 2,367,830.35 [1], 109,018.81-94,704.12 (3,447,443.83+94,704.12-1,333,000.00+109,018.81)33%=764,995.03 58

2005 [2] - 113,826.81 684,635.80-94,704.12-113,826.81 10%684,635.8049% -94,704.12 10%=314,618.45 () 2005 : : : 59 1 9,800,892.25 2,183,568.35 / / 11,984,460.6 2 2,499,345.62 2,062,326.45 / / 4,561,672.07 3 7,301,546.63 121,241.9 / / 7,422,788.53 4 5,804.08 810.16 810.16 4,993.92 5 6 5,804.08 810.16 810.16 4,993.92 7 581,656.42 140,091.83 394,115.02 394,115.02 327,633.23 8 217,508.33 140,091.83 195,900.38 195,900.38 161,699.78 9 364,148.09 198,214.64 198,214.64 165,933.45 10 500,000.00 500,000.00 11 500,000.00 500,000.00 12 13 14 15 16 17 18 19 20 21 10,888,352.75 2,323,660.18 394,925.18 12,817,087.75 : : :

2005 2005 : : : 1 18,583,440.5 483,654.97 / / 86,035.78 18,981,059.69 2 759,358.00 / / 86,035.78 673,322.22 3 17,824,082.50 483,654.97 / / 18,307,737.47 4 5 6 7 21,607.95 36,053.83 57,661.78 8 21,607.95 36,053.83 57,661.78 9 10 500,000.00 500,000.00 11 500,000.00 500,000.00 12 13 14 15 16 17 18 19 20 21 19,105,048.45 519,708.8 86,035.78 19,538,721.47 : : : () 9 : : % 41.46 41.46 0.836 0.836 3.40 3.40 0.069 0.069 1.77 1.77 0.022 0.022 0.63 0.63-0.001-0.001 60

2005 2006 3 17 61

00 2005 2005 2 2005 2005 1 2005 2 2005 2005 62