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Transcription:

ZTE CORPORATION 2008 3 20

2007 12 31 1

1997 11 A A 2004 12 H A 100 500 2

...4...6...7...9...12...13...17...24...39...58...59...75...85...87...107...108...228...229...311 3

4 A, H ITU ( )

5

3G 144Kbps 384 2 Mbps 64 Kbps ITU IMT-2000 3GPP 3GPP2 3G ADSL 1.547 Mbps 128 Kbps CDMA 2G PN DSL xdsl ADSL HDSL VDSL MDSL RDSL GSM 170 TDMA IP RFC 791 TD-SCDMA 3G WCDMA CDMA3G UMTS CDMA 3Mbps 6

1. ZTE Corporation ZTE 2. 3. +86 755 26770282 +86 755 26770286 fengjianxiong@zte.com.cn 4. 518057 http://www.zte.com.cn fengjianxiong@zte.com.cn 15 8 5. 710 6. http://www.cninfo.com.cn http://www.hkex.com.hk 7. A :000063 : 7

115003 1 031006 ZXC1 H :763 : 7. 183 17 1712-16 8. 20 15 41 9. / 5001 21 8 2 18 10. 1997 11 11 710 6 2000 9 29 4403011015176 44030127939873X 27939873-X 8

2007 2007 347.77 49.81% 12.52 63.26% 1.30 2007 200.91 94.83% 57.77% 2007 GSM TD-SCDMA 2007 GSM CDMA TD-SCDMA WCDMA TD-SCDMA 2007 2007 9

2007 2007 70 2007 2006 2007 2007 10 2.5 10 4 3G 2008 10

GSM TD-SCDMA CDMA 3G 2008 3 20 11

2007 2 (Vodafone) 2007 3 2007 3 2007 2007 6 TD-SCDMA TD-SCDMA 2007 10 3G TD-SCDMA/EDGE U980 TD-SCDMA USB Modem MU318 2007 11 CIMA, 2007CIMA 12

( 1,000.8 1,727.7 1,252.2 1,245.9 88.4 186.6 179.2 1.1 6.3 33.3 123.6 90.3 153.2 0 7.9 7.9-8.1 3.7 3.7 0 0 32.1 34.4 2.3-2.3 69.1 169.6 100.5 142.8 13

( 1 2007 2006 2005 34,777.2 23,214.6 23,214.6 49.81% 21,740.7 21,740.7 1,727.7 1,069.6 1,030.7 67.62% 1,501.9 1,605.8 1,252.2 807.4 767.0 63.26% 1,194.3 1,287.7 1,245.9 753.9 713.4 74.64% 1,212.9 1,306.3 88.4-1,555.0-1,548.10 105.71% 177.3 177.3 2007 2006 2005 ( 39,173.1 25,916.9 25,760.7 52.07% 21,779.1 21,660.7 12,137.2 10,678.9 10,763.9 12.76% 10,125.1 10,250.5 2 2007 2006 2005 1.30 0.84 0.80 62.50% 1.24 1.34 1.29 0.84 0.80 61.25% 1.24 1.34 1.30 0.79 0.74 75.68% 1.26 1.36 % 10.32 7.56 7.13 3.19 11.80 12.56 % 10.94 7.76 7.30 3.64 12.40 13.23 10.26 7.06 % 6.63 3.63 11.98 12.74 10.88 7.24 % 6.79 4.09 12.59 13.42 0.09-1.62-1.61 105.59% 0.18 0.18 2006 2005 2007 12.65 11.12 11.22 12.75% 10.55 10.68 14

/ [2007 1 1 959,521,650 ] 4798 20% 12 31 : 2007 2006 2005 2004 2003 34,777.2 23,214.6 21,740.7 21,261.4 17,095.9-23,415.0-15,365.9-14,101.7-13,813.5-11,226.1 11,362.2 7,848.7 7,639.0 7,447.9 5,869.8 1,028.0 724.7 516.9 492.8 192.2-3,210.4-2,832.7-1,959.5-2,265.2-1,535.7-4,531.5-3,274.7-3,186.4-2,799.6-1,981.5-1,718.2-1,097.6-1,095.4-981.4-869.0-898.2-191.5-128.6-162.4-213.9 2,031.9 1,176.9 1,786.0 1,732.1 1,461.9-328.3-153.7-175.9-140.4-171.2 24.1 7.5-4.2 3.1-3.5 1,727.7 1,030.7 1,605.9 1,594.8 1,287.2-276.2-127.1-179.9-115.0-198.6 1,451.5 903.6 1,426.0 1,479.8 1,088.6 : -199.3-136.6-138.3-207.3-60.3 : 1,252.2 767.0 1,287.7 1,272.5 1,028.3 15

12 31 : 2007 2006 2005 2004 2003 40,977.9 26,787.2 22,464.0 21,007.8 16,476.4 28,089.5 15,461.4 11,742.8 11,312.2 11,649.9 751.2 561.9 470.7 478.4 226.6 12,137.2 10,763.9 10,250.5 9,217.2 4,599.9 2007 2006 2005 2004 2003 1.30 0.80 1.34 1.57 1.28 / 12.65 11.22 10.68 9.61 6.89 / 10.32% 7.13% 12.56% 13.81% 22.35% 2007 2007 16

(%) 1 (%) 312,264,805 32.54 - - - -310,073-310,073 311,954,732 32.51 1 - - - - - - - - - 2 310,982,741 32.41 - - - - - 310,982,741 32.41 3 1,282,064 0.13 - - - -310,073-310,073 971,991 0.10 - - - - - - - - - ( ) 1,282,064 0.13 - - - -310,073-310,073 971,991 0.10 4 - - - - - - - - - - - - - - - - - - - - - - - - - - - 647,256,845 67.46 - - - 310,073 310,073 647,566,918 67.49 1 487,105,805 50.77 - - - 310,073 310,073 487,415,878 50.80 2 - - - - - - - - - 3 (H ) 160,151,040 16.69 - - - - - 160,151,040 16.69 4 - - - - - - - - - 959,521,650 100 - - - - - 959,521,650 100 17

A 1 1 310,982,741 0 0 310,982,741 219,600 54,900 0 164,700 121,680 30,420 0 91,260 95,760 23,940 0 71,820 91,007 22,752 0 68,255 121,680 30,420 0 91,260 10,020 2,505 0 7,515 95,760 23,940 0 71, 820 44,839 11,210 0 33,629 A 25% 95,760 23,940 7,500 1 79,320 2007 5 24,300 6,075 0 18,225 22 41,385 10,346 0 31,039 94,500 23,625 0 70,875 61,756 15,439 0 46,317 33,804 8,451 0 25,353 78,840 19,710 0 59,130 9,900 9,900 0 0 2007 41,473 41,473 312,264,805 317,573 7,500 311,954,732 -- -- 1 2007 11 12 A 10000 75% 2 ( ) 1 2007 12 29 2 47,976,083 310,982,741 2008 12 29 263,006,658 1 18

1 : 13 24 A 60 26.75 115% 30.76 2006 7 14 2007 7 27 2005 2006 30.76 30.36 2: 2007 12 29 2008 1 3 2008 1 3 1 2007 12 31 2008 2 22 2 1 2007 12 31 10 43,348 A 43,017,H 331 % 1 35.08% 336,574,339 310,982,741 2 16.66% 159,823,439 0 3 1.57% 15,091,674 0 4 1.19% 11,431,810 0 5 1.13% 10,879,556 0 6 1.11% 10,680,805 0 19

7 1.04% 10,000,000 0 8 1.04% 9,999,422 0 9 0.89% 8,512,422 0 10 0.76% 7,334,980 0 10 1 159,823,439 H 2 25,591,598 A 3 15,091,674 A 4 11,431,810 A 5 10,879,556 A 6 10,680,805 A 7 10,000,000 A 8 9,999,422 A 9 8,512,422 A 10 7,334,980 A 1 3 5 2 10 10 3 10 10 2 5% ( ) 47,976,083-22,384,485 25,591,598 ( ) 20

3 1993 4 29 10,000 4 34% 17% 49% 9 3 2 4 33.33% 22.22% 44.45% 1965 19,853 ( ) 1984 3 20 1,795 1992 10 23 1,000 2007 12 31 21

34% 17% 35.08% 49% 5 2007 12 31 336 5% (%) 336,574,339 A (L) 35.08 42.10 336,574,339 A (L) 35.08 42.10 336,574,339 A (L) 35.08 42.10 336,574,339 A (L) 35.08 42.10 336,574,339 A (L) 35.08 42.10 Fidelity International Limited 22,226,700H (L) 2.32 13.88 Allianz SE 14,159,900 H (L) 1.48 8.84 Schroder Investment Management (Hong Kong) Limited Deutsche Bank Aktiengesellschaft 13,802,600 H (L) 1.44 8.62 13,232,543 H (L) 1.38 8.26 5,753,790 H (S) 0.60 3.59 Goldman Sachs (Asia) L L C 11,622,000 H (L) 1.21 7.82 Goldman Sachs (Cayman) Holding Company JPMorgan Chase & Co. Aranda Investments (Mauritius) Pte Ltd Halbis Capital Management (Hong Kong ) Limited Massachusetts Financial Services Company ( MFS ) 11,622,000 H (L) 1.21 7.82 11,182,468 H (L) 1.17 6.98 287,000 H (S) 0.03 0.18 10,707,068 H (P) 1.12 6.69 11,141,800 H (L) 1.16 6.96 11,060,200 H (L) 1.15 6.90 8,428,100 H (L) 0.88 5.26 Sun Life Financial, Inc. 8,428,100 H (L) 0.88 5.26 L - (S)- (P)- 22

2007 12 31 336 6 2008 3 18 23

1 66 1997 2004 2 2004 2 38 63 1968 2001 2003 2,2003 2 2007 12 2004 2 52 1982 2001 2003 2003 2004 2 54 1977 2000 2003 3 2003 3 2006 3 24

2004 2 52 1982 2000 2003 2003 1999 4 51 2001 2001 2002,2002 2003 2003 2004 2 44, 2004 1988 ( ) 1991 1993 1997 1997 1999 1999 2004 1997 11 17 44, 1999 1989 1989 1993 1993 1997 1997 1999 1999 25

, 2001 2 17 41, 1999 1990 1993 1998 1999 1999, 2001 2 15 42 2002 1982 2003 7 46 1992 1983 2003 7 37 1999 1994 2001 2001 2003 7 62 ( ) 1981 ITU-T 26

1982 2004 2 40 1989 1994 1997 2002 2002 2003 11 2004 6 Dragon Pharmaceutical Inc.( ) 2 34 1996 7 2000 8 46 KCS Hong Kong Limited ( ) (Andrews University) (University of Wolverhampton) ( ) ( ) 3 66 1966, 691 1993 4 27

1997 11 2004 2 2004 2 41 1991 1991 6 1994 10 1994 10 37 1991 1995 1998 1 46 1992 6, 1994 10 1997 2003 2003 43 1988 7 1992 12 1999 9 1999 4 45 1999 2004 28

1988 1993 1997 1997 1999 1999 19 44 2004 1986 1994 1998 2004 CDMA CDMA 2004 11 53 1999 2004 EMBA 1990 1993 1997 1997 1999 1999 17 39 2005, 1991 1996 1997 2002,2002 2005, 2005 10 44 2007 1998 2006 29

1988 1988 1998 19 49 2002 1989 ( ) 1994 1989 1992 1995 1998 AT&T 1998 2002 2002 2007 12 43 1998 1987 ( ) 1987 1995 1995 1997 1998 12 41 2004 MARKETING 1997 1991 1998 1998 CDMA 1998 2003 2004 CDMA 16 30

38 1998 1994 1994 1995 1995 1997 1998 11 39 2006 1995 2002 5 1995 1997 2000 CDMA 2001 2005 CDMA 2006 9 39 2006 1992 2006 1996 1997 2005 2006 8 34 2006 1996 2007 EMBA 1996 1997 2006 7 2006 8 8 31

34 2004 1998 1998 1998 2003 2004 9 41 2006, 1995 1997 1997 2005 2006 11 41 2001 1988 1994 1997 2001 2001 12 38 2006 / / 1995 1995 1997 2005 2006 7 48 1998 IT 1981 1981 1994 1994 1997 32

1998 IT 13 43 1990 1999 1999 2006 8 A A A ( ) ( ) 66 3/2007-3/2010 219,600-219,600 101.0 0 0 30.05 63.69 63 3/2007-3/2010 0-0 9.0 10,000 0 30.05 63.69 52 3/2007-3/2010 0-0 9.0 10,000 0 30.05 63.69 54 3/2007-3/2010 0-0 9.0 10,000 0 30.05 63.69 52 3/2007-3/2010 0-0 9.0 10,000 0 30.05 63.69 51 3/2007-3/2010 0-0 9.0 10,000 0 30.05 63.69 44 3/2007-3/2010 121,680-121,680 184.4 0 0 30.05 63.69 44 3/2007-3/2010 95,760-95,760 119.5 0 0 30.05 63.69 41 3/2007-3/2010 91,007-42 3/2007-3/2010 0-46 3/2007-3/2010 0-91,007 137.60 0 0 30.05 63.69 0 9.0 0 0 30.05 63.69 0 9.0 0 0 30.05 63.69 37 3/2007-3/2010 0-0 9.0 0 0 30.05 63.69 33

62 3/2007-3/2010 0-40 3/2007-3/2010 0-66 3/2007-3/2010 121,680-0 9.0 0 0 30.05 63.69 0 9.0 0 0 30.05 63.69 121,680 100.7 0 0 30.05 63.69 41 3/2007-3/2010 0-0 54.3 0 0 30.05 63.69 37 3/2007-3/2010 0-0 33.7 0 0 30.05 63.69 46 3/2007-3/2010 10,020-10,020 0 0 0 30.05 63.69 43 3/2007-3/2010 0-0 0 0 0 30.05 63.69 45 3/2007-3/2010 95,760-44 3/2007-3/2010 44,839-53 3/2007-3/2010 95,760 1 39 3/2007-3/2010 24,300 2 44 3/2007-3/2010 0-95,760 106.3 0 0 30.05 63.69 44,839 129.7 100,000 0 30.05 63.69 95,760 97.9 0 0 30.05 63.69 18,225 123.9 100,000 0 30.05 63.69 0 118.8 100,000 0 30.05 63.69 49 3/2007-3/2010 94,500-94,500 124.6 100,000 0 30.05 63.69 43 3/2007-3/2010 41,385-41,385 106.7 100,000 0 30.05 63.69 41 3/2007-3/2010 0-0 116.5 180,000 0 30.05 63.69 38 3/2007-3/2010 61,756-61,756 90.3 100,000 0 30.05 63.69 39 3/2007-3/2010 0-0 85.0 150,000 0 30.05 63.69 39 3/2007-3/2010 0-0 153.0 150,000 0 30.05 63.69 34 3/2007-3/2010 0-0 151.5 150,000 0 30.05 63.69 34 3/2007-3/2010 0-0 118.4 180,000 0 30.05 63.69 41 3/2007-3/2010 0-0 64.9 150,000 0 30.05 63.69 41 3/2007-3/2010 33,804-33,804 100.4 100,000 0 30.05 63.69 38 3/2007-3/2010 0-0 56.7 150,000 0 30.05 63.69 48 3/2007-3/2010 78,840-78,840 97.0 100,000 0 30.05 63.69 43 3/2007-3/2010 0-0 95.9 150,000 3 0 30.05 63.69 34 3/2007-3/2010 0-0 50.8 100,000 0 30.05 63.69 -- - - - 1,230,691-1,224,616 2,809.5 2,210,000 0 -- -- -- 1 10,000 A 2 6,075 A 34

3 150,000 A 4 2007 6 / 10 / 2007.4-2010.3 2003 2007.4-2010.3 10/2003 2007.4-2010.3 2003 2007.4-2010.3 2007.4-2010.3 2007.4-2010.3 2007.4-2010.3 2007.4-2010.3 8 ( ) ( ) / Dragon Pharmaceutical Inc. 2 10 / 11 / 35

2 / 10 / 6 / 11 / 4 / 9 / 9 / ( ) 2 / 3 / 3 / 2 / 3 / 2 / 3 / 2 1 2007 3 30 2007 2007 3 30 2010 3 29 2007 3 30 2 2007 3 30 2007 36

2007 1 30 2007 3 30 2010 3 29 2007 3 30 3 2007 3 30 48 261 28 20 37

1 % 16,940 35.1 7,706 16.0 9,170 19.0 9,314 19.3 5,131 10.6 48,261 100 2 % 401 0.8 10,762 22.3 22,716 47.1 14,382 29.8 48,261 100 38

39

2007, 2007 4 40

2007 2007 6 25 2007 10 16 2007 2007 7 11 2007 7 16 2007 9 11 2007 70 2007, 13 12 1 0 13 13 0 0 13 11 2 0 13 13 0 0 13 12 1 0 41

1 42

2007 4 2 1997 11 2006 1 1 3 1 43

2 4 1 2 44

3 2007 4 2007 5 2007 6 2007 45

7 2007 1 2 2007 46

2007 12 31 2007, 47

2007 12 31 ( ) 3.13 ( ) 1 2007 13 15 2007 13/13 48

9/13 4/13 12/13 1/13 7/13 6/13 13/13 13/13 13/13 11/13 2/13 12/13 1/13 11/13 2/13 13/13 9/13 4/13 13/13 12/13 1/13 2 14 3 3 3 4 1 2 49

3 2007 9 26 ( ) 2007 3 30 1 (1) (2),, 2007 7/7 7/7 5/7 2/7 7/7 7/7 6/7 1/7 3 50

4 2007 a.) 6 10 b.) c.) 2006 2006 2006 d.) 2007 e.) f.) 2007 g.) 2 (1) (2), 2007 3/3 51

3/3 2/3 1/3 3/3 3/3 2/3 1/3 (3) 4 2007 a.) b.) c.) 3 (1) (2), 52

3.21 2007 4/4 3/4 1/4 1/4 3/4 4/4 4/4 4/4 4/4 (3) 2007, : a) b) 2006 12 31, c) d) 2006 12 31 e) 2006 12 31 f) 2007 6 30, g) 2007 6 30 h) i) 2007 53

2007 12 31 ( ) ( ) 2007 7/7 7/7 7/7 7/7 7/7 54

2007 ( ) 8 ( ) (1) (2) 2007 (3) 2007 12 31 2007 12 31 XV 352 ( ) 2007 12 31 18 55

(4) 2007 9 33 2005 2006 2007 2004 2007 84 2007 504 2007 56

2007 12 31 2007 57

2007 6 15 2007 6 18 2007 3 13 2007 3 30 2007 10 16 2007 3 14 2007 4 2 2007 10 17 58

2007 12 31 2007 12 31 110 228 2007 12 31 14 2007 12 31 15 H 2004 11 29 2003 12 31 2007 12 31 2004 2005 2006 2007 2007 2007 2007 2007 7280.1 10.9% 2279.9 4.3% 59

2007 2007 2007 2007 2007 2007 347.77 49.81% 12.52 63.26% 2007 146.87 13.83% 2007 200.91 94.83% 57.77% 13.35 60

2007 GSM 3G TD-SCDMA TD-SCDMA WCDMA CDMA 2007 2007 GSM WCDMA 2007 61

1 ( ) 34,777.2 23,004.5 33.85% 49.81% 50.62% -0.36 34,777.2 23,004.5 33.85% 49.81% 50.62% -0.36 14,851.5 8,283.5 44.22% 61.66% 58.86% 0.98 1,350.1 751.5 44.34% -40.77% -44.47% 3.71 6,365.9 4,362.2 31.48% 64.30% 48.44% 7.32 7,645.1 5,939.8 22.31% 69.16% 75.38% -2.75 4,564.6 3,667.5 19.65% 36.09% 54.11% -9.39 34,777.2 23,004.5 33.85% 49.81% 50.62% -0.36 14,686.6 9,987.8 31.99% 13.83% 16.03% -1.29 9,679.4 6,907.1 28.64% 67.26% 75.51% -3.35 5,484.8 2,903.8 47.06% 111.21% 91.08% 5.58 4,926.4 3,205.8 34.93% 155.54% 164.87% -2.29 34,777.2 23,004.5 33.85% 49.81% 50.62% -0.36 2 10% 14,851.5 8,283.5 44.22% 7,645.1 5,939.8 22.31% 6,365.9 4,362.2 31.48% 4,564.6 3,667.5 19.65% 62

3 2007 2006 39,173.1 100% 25,760.7 100.00% 52.07% 1 7,680.0 19.61% 5,702.3 22.14% 34.68% 2 3,038.1 7.76% 2,591.9 10.06% 17.22% 137.0 0.35% 57.2 0.22% 139.51% 3 931.1 2.38% 469.6 1.82% 98.28% 4 4,403.4 11.24% 945.7 3.67% 365.62% 5 5,363.4 13.69% 2,481.2 9.63% 116.16% 6 0 0 0 0 0 2,085.2 5.32% 1,679.2 6.52% 24.18% 1 52.07%, 2 34.68% 3 139.51% 4 98.28% 5 365.62%, 6 116.16%, 4 2007 2006 57.92% 38.63% 19.29 571.70% 723.50% -151.80 1 3.44% 3.09% 0.35 42.08% 61.37% -19.29 1 151.80 63

2007 2006 4,395.1 3,140.1 39.97% 1 1,777.6 1,244.7 42.81% 1 494.4 239.6 106.34% 2 276.3 127.1 117.39% 3 1 39.97% 42.81%, 2 106.34%, 3 117.39%, 5 2007 2006 88.4-1,548.1 105.71% 1-1,757.6-1,163.6-51.05% 2 3,828.3 1,465.8 161.17% 3 1 105.71%, 2 51.05%, 3 161.17% 6 1 % 5,000 98 5,000 100 ( ) 2,726.5 2,035.5 5,451.1 2,362.1 2,990.0 2,176.8 754.0 3,942.4 1,100.0 1,077.5 5,000 99 1,179.1 337.3 1,203.4 464.7 462.7 5,000 90 8,735.1 1,925.7 21,784.2 317.7 282.6 64

(2) LiveCom Limited ZTE PHILIPPINES INC ZTE ITALY S.R.L. ZHONGXING CORPORATION,S.L ZTE(H.K ) Ethiopia LTD. ZTE Telecom SOUTH AFRICA ZTE DE VENEZUELA, C.A. ZTE HK(Cambodia) Co., Ltd EURL ZTE ALGERIE ZTE PARSIAN CO. ZTE Afghanistan LTD. ZTE Corporation Bangladesh Ltd. ZTE HELLAS TELE-COMMUNICATIONS S.A. 10% 11 7 33-65

8 2007 2007 ZXWM M900 ZXR10 2007 TD-SCDMA 9 2007 1,833 7.8% 4,148 17.6% 2007 4,595 13.2% 14,109 40.6% 10 1 2007 3 14 2007 3 18 2007 2008 1 30 400,000 4,000 3,961,443,520 2008 66

2 5 44301560040310230000 2008 2 5 11 65.5 1 TD-SCDMA HSDPA 18,782 2 TD-SCDMA 11,776 3 TD 67,326 4 174,915 5 53,358 6 IP 39,727 7 56,635 8 xpon 49,371 9 64,108 10 ICT 99,647 11 RFID 19,394 655,039 2007 12 31 157,693.66 2008 3 14 2 2007 12 12.9, 3 23.26% ( 2007 10 26 2007 12 5 ) 67

11 12,, 13 2008 3 20 14 2007 1 2 2007 3 15 (1) 2007 13 : 2007 1 24 2007 1 25 2007 1 26 2007 1 29 68

2007 3 13 2007 3 14 2007 3 30 2007 4 18 2007 4 25 2007 5 28 2007 6 25 2007 7 20 2007 8 16 2007 4 2 2007 4 19 1 2 2007 6 26 2007 7 23 2007 8 17 2007 9 26 2007 9 27 2007 10 25 2007 10 26 2007 12 28 2007 12 29 1 2007 2 3 2007 6 25 (2) 2006 2006 12 31 959,521,650 10 1.50 143,928 A 2007 7 26 2007 7 27 H 2007 5 15 2007 7 27 2007 6 15 2006 H 20% H 69

2007 10 16 2007 a b A c 3 2007 2007 2006 2007 70

71 2007 2007 11 2007 2007 2007 11 2008 3 4 A H 2007

2008 4 2007 2007 16 2007 2007 25,335 1,632,417, 1,657,752 2007 20,714, 1,642,584, 1,663,298,, 1,657,752 2007 : 2007 12 31 959,521,650 10 2.5 239,880 2007 2007 12 31 959,521,650 10 4 383,808,660 72

17 ( )2008 1 2008 2008 3G GSM CDMA GSM WCDMA 3G TD-SCDMA WCDMA TD-SCDMA TD-SCDMA WCDMA 2 1 2 3 4 73

120 1 15 16 2 2007 12 31 33 3 40 4 5 6 38 17 74

2007 2006 14,851.5 9,186.9 1,350.1 2,279.4 6,365.9 3,874.6 7,645.1 4,519.5 4,564.6 3,354.1 34,777.2 23,214.6 (23,415.0) (15,365.9) 11,362.2 7,848.7 1,028.0 724.7 (3,210.4) (2,832.7) (4,531.5) (3,274.7) (1,718.2) (1,097.6) (898.2) (191.5) 2,031.9 1,176.9 (328.3) (153.7) 24.1 7.5 1,727.7 1,030.7 (276.2) (127.1) 1,451.5 903.6 : : (199.3) (136.6) 1,252.2 767.0 239.9 143.9 1.30 0.80 1.29 0.80 75

2007 2006 14,851.5 42.7% 9,186.9 39.6% 1,350.1 3.9% 2,279.4 9.8% 6,365.9 18.3% 3,874.6 16.7% 7,645.1 22.0% 4,519.5 19.5% 4,564.6 13.1% 3,354.2 14.4% 34,777.2 100.0% 23,214.6 100.0% 2007 2006 14,686.6 42.2% 12,902.8 55.6% 9,679.4 27.8% 5,787.1 24.9% 5,484.8 15.8% 2,596.8 11.2% 4,926.4 14.2% 1,927.9 8.3% 34,777.2 100.0% 23,214.6 100.0% 2007 34,777.2 49.8%, 20,090.6 94.8% 2007 CDMA GSM GSM TD-SCDMA DSL 76

CDMA 3G GSM (1) (2) 2007 2006 8,379.9 56.4% 5,276.6 57.4% 777.1 57.6% 1,361.5 59.7% 4,467.8 70.2% 2,959.8 76.4% 5,985.9 78.3% 3,364.5 74.4% 3,804.3 83.3% 2,403.5 71.7% 23,415.0 67.3% 15,365.9 66.2% 2007 2006 6,471.6 43.6% 3,910.3 42.6% 573.0 42.4% 917.9 40.3% 1,898.1 29.8% 914.8 23.6% 1,659.2 21.7% 1,155.0 25.6% 760.3 16.7% 950.7 28.3% 11,362.2 32.7% 7,848.7 33.8% 23,415.0 52.4 % 32.7% 33.8% 1.1 77

8,379.9 58.8% 43.6% 42.6% CDMA TD-SCDMA 777.1 42.9% 42.4% 40.3% 4,467.8 50.9% 29.8% 23.6% DSL 5,985.9 77.9% 21.7% 25.6% CDMA 3G GSM 3,804.3 58.3% 16.7% 28.3% 2007 1,028.0 2006 724.7 41.9 2007 3,210.4 2006 2,832.7 13.3 12.2% 78

9.2% 2007 4,531.5 2006 3,274.7 38.4% 14.1% 13.0% 2007 1,718.2 2006 1,097.6 56.5 % 4.9% 2006 4.7% 2007 898.2 2006 191.5 369.0% 72.6% 2006 1,176.9 2007 2,031.9 2006 5.1% 2007 5.8% 2007 328.3 2006 153.7 113.6% 79

2007 276.2 2006 127.1 117.3% 2007 2006 67.6% 2007 2006 12.3% 16.0% 2007 199.3 2006 136.6 45.9% 2006 15.1% 2007 13.7% 2007 33.5% 2006 18.8% 14.7 2007 2007 12 31 6,309.7 2007 2006 / 552.1 (2,106.3) / (1655.7) (1,115.2) / 4,366.8 1,975.6 / 2,159.1 (1,245.9) 6,309.7 4,142.1 80

2007 552.1 2006 2,106.3 12,477.7 1,244.8 6,997.8 3,428.2 1,264.3 464.2 2007 4.2 2006 3.7 6.0 2006 6.5 2.5 2006 2.3 2007 1,655.7 2006 1,115.2 2007 4,366.8,2006 1,975.6 3,863.7 2007 2006 1,494.3 1,135.7 2007 1,494.3 81

12 31 2007 2006 866.4 394.7 5,622.2 2,230.2 12 31 2007 2006 4,403.4 945.7 2,085.2 1,679.2 2007 2007 12 31 6,488.6 4,403.4 1,625.0 460.2 - - - - 12 31 2007 2006-107.2-5,200.6 5,093.5 5,307.8 82

12 31 2007 2006 582.3 796.0 255.2 80.3 2007 12 31 18 19 20 2008 2007 12 31 2007 12 31 33 2007 12 31 83

84

2007 1. 2007 1 26 2007 1 29 2. 2007 3 30 2007 4 2 3. 2007 4 18 < > 2007 4 19 4. 2007 8 16 2007 8 17 5. 2007 9 26 85

<2007 > 2007 9 27 6. 2007 10 25 2007 ( ) 2007 10 26 7. 2007 12 25 ( ) 2007 12 26 1 2 3 2007 2007 2007 2007 4 5 86

1 2005 11 -- ( ) 3,500 3,600 7,100 2 2006 11 65,733,478 395 3 2005 12, 3,645 ( 26,625.3 ), 87

4 2005 8 171.4 1,252 214.3 ( 1,565.4 ), 5 (Rawalpindi Collectorate of Customs) (Zhongxing Telecom Pakistan (Pvt) Ltd)( ),, 2,390 32,400 2007 6, 2007 6 30, 1.77 2200 6 30 6200 700 6 2006 8 1,000 2008 2 530 1 2 3 88

7 2007 9 11 TEMPORARY RESTRAINING ORDER, 2007 9 15 2007 10 2007 10 / 0 79,000 0 149 -- 0 45,000 0 19 -- 0 22,000 0 35 -- 1 7,374,000 7,374,000 0 1,622 497 2 2 2 0 79,000 0 -- 160 0 45,000 0 -- 19 0 22,000 0 -- 17 89

1, 2006 12 17,674,000 0552 H 2.20 3,888 0.32% 2007 1 H 4,451 497 2 196 1 2006 10 25 2006 12 15 (2007 2 5 ) 2007 3 13 2007 (2007 2 5 ) 2007 2 14 90

2007 3 14 2007 3 18 2 21 39 2007 8 16 2007 10 16 2007 2007 10 17 2007 [2008]132 2008 1 30 400,000 4,000 40 100 400,000 2008 1 30 0.8% 2009 1 30 1 30 2013 1 30 1.63 6,520, 24 2008 2 22 2010 2 21 10 2010 2 1 12 2010 2 13 19 2 20 21 2010 2 1 12 2 1 0.5 2 1 A 91

1 A 78.13 / ( 2008 2 21 ) % 1 1,963,750 4.91 2 1,026,130 2.57 3 005L FH002 897,887 2.24 4 881,995 2.20 5 815,096 2.04 6 811,403 2.03 7 005L CT001 775,790 1.94 8 763,300 1.91 9 019L FH001 761,447 1.90 10 755,900 1.89 10 755,900 1.89 10 755,900 1.89 10 755,900 1.89 10 005L FH001 10 019L CT001 10 019L FH002 755,900 1.89 755,900 1.89 755,900 1.89 10 755,900 1.89 10 755,900 1.89 10 3 755,900 1.89 10 755,900 1.89 10 755,900 1.89 10 755,900 1.89 10 755,900 1.89 10 1 92

[2008]31 400,000 6520 2008 2 22 1 1 a.,, 2007 2006 10 26 2007 4 19 2007 9 27 93

2007 70,568.14 5% 2007 1-12 2000-15000 /, 40-4000 /, 2-600 /, 70,568.14 3.29% FPC 0.15-0.18 /, 0.1-0.15 / 3-10 /, IC IC 100-1000 /, 1-50 / 12,426.67 0.58% 120-17500 /, 320-2500 / 24,090.00 1.12% 350-4100/ 94

40 / / ( 800 438.14 1.13% ) 15,000 42.5 / / 1,463.70 3.77% 2.5 / / 44,000 115 / 19 / (, 2,141.76 5.52% 25,000 ) 337.6 b.) 2007 10 25 3 -- 12.9 2007 10 26 2007 12 5 2 2007-2009 2007-2009 14A 2006 11 2 2007 3 14 a.) 95

2003 6 2 51% 57.5% 2005 1 21 50% 25% 50% 2004 4 27 57.5% 40% 5.8% 23% 13.8% 2007 25,655 2006 10 25 LCD 2007-2009 2009 12 31 LCM 96

b.) 90% a.), 2007 268,237 2006 10 25 2007-2009 2009 12 31 c.) LCD 62.5% 22.5% 97

15% 2007 422 2006 10 25 LCD 2007-2009 2009 12 31 d.) LCM 2007 325,268 98

2006 10 25 LCM 2007-2009 2009 12 31 e.) 70% 55% 99

55% 2007 705,681 2006 10 25 LCM 2007-2009 2009 12 31 2 100

3 1 2 (1) 2006 9 8 5,000 12 73,923,7 United 00 Telecoms ( 2006 12 11 3 Limited 1,369 1 ) 2007 6 28 2 (A) 300 6.5 300 8,560.45 101

2 1,140.55 2,710.5 (B) 1152.31 6,352.7 A+B) 21,138.91 1.74% C 0 70% 1,140.55 3 (D) 50% (E) 0 *(C+D+E) 1,140.55 1 United Telecoms Limited 2, 300 70% 3 2 51% 70% 4 1 0.1852 2007 12 28 1 7.3046 2007 12 28 5 (2) 2005 1 350 175 175 ( 2005 ) 3 4 102

1 Ethiopian Telecommunications Corporation 2007 4 30 2 TD-SCDMA 2007 6 11 3 2006 4 2006-2007 4 Ethiopian Telecommunications Corporation 2007 9 20 GSM 1 5% A 1 2 5% / 2007 4 2007 4 2007 8 2006 2006 2007 2007 2007 2007 10 2007 5 2007 5 103

2007 6 2007 8 2007 9 2007 9 2007 9 2007 12 2007 12 2007 12 2007 12 2007 12 2007 HALBIS Capital Wellington UBS 2007 104

5% 2.15 2.66 1.99, ( ) 105

2007 3 40,285 2007 12 135,300 106

(2008) 60438556_H01 ( ) ( ) 2007 12 31 2007 1 2 3 2007 12 31 2007 2008 3 19 107

2007 12 31 2007 2006 ( ) 1 6,483,170 4,311,060 2 123,644 33,288 3 1,656,258 1,658,406 4 7,098,949 5,329,628 4 153,668 152,848 5 311,362 51,757 6 689,889 441,039 7 5,363,430 2,481,155 8 8,606,291 5,833,480 30,486,661 20,292,661 9 43,464 43,488 10 581,007 372,703 10 3,142,709 1,399,206 11 137,019 57,193 12 3,038,063 2,591,858 13 931,090 469,636 14 224,848 152,859 15 258,991 129,751 16 295,750 210,923 17 33,494 40,415 8,686,435 5,468,032 39,173,096 25,760,693 126 226 108

2007 12 31 2007 2006 ( ) 19 2,893,855 945,726 4 153,668 152,848 7,876-21 3,946,429 2,242,566 22 7,856,240 4,749,099 8 1,597,314 996,275 23 1,491,219 635,875 24 1,241,839 1,058,804 25 (1,342,330) (690,767) 26 41,180 83,941 28 1,314,057 708,188 101,695 66,274 27 126,042 291,832 29 1,509,569-20,938,653 11,240,661 30 2,085,229 1,679,242 10 3,142,709 1,399,206 20 3,689 3,689 34,408 32,058 31 80,000 80,000 5,346,035 3,194,195 26,284,688 14,434,856 32 959,522 959,522 33 5,807,332 5,509,664 34 1,364,758 1,331,059 35 3,831,231 2,852,652 35 239,880 143,928 (65,562) (32,880) 12,137,161 10,763,945 36 751,247 561,892 12,888,408 11,325,837 39,173,096 25,760,693 126 226 107 125 109

2007 2007 2006 ( ) 37 34,777,181 23,214,580 37 23,004,541 15,273,126 38 280,266 111,360 4,395,125 3,140,108 1,777,554 1,244,683 15 3,210,433 2,832,686 39 494,371 239,617 40 789,140 23,317 41 115,566 16,595 42 59,437 31,849 42 24,267 7,523 1,000,754 398,127 43 906,133 658,715 43 179,153 26,152 23,927 14,885 1,727,734 1,030,690 44 276,283 127,078 1,451,451 903,612 1,252,158 766,972 199,293 136,640 45 1.30 1.29 0.80 0.80 126 226 107 125 110

2007 2007 959,522 5,509,664 1,331,059 2,767,616 143,928 (32,880) 10,678,909 561,892 11,240,801 - - - 85,036 - - 85,036-85,036 959,522 5,509,664 1,331,059 2,852,652 143,928 (32,880) 10,763,945 561,892 11,325,837 ( ) - - - 1,252,158 - - 1,252,158 199,293 1,451,451 ( ) 1. - - - - - - - - - 2. - - - - - - - - - 3. - - - - - - - - - 4. - - - - - (32,682) (32,682) (3,647) (36,329) ( ) ( ) - - - 1,252,158 - (32,682) 1,219,476 195,646 1,415,122 126 226 111

2007 2007 ( ) 1. - - - - - - - 17,207 17,207 2. - 297,668 - - - - 297,668-297,668 3. - - - - - - - - - ( ) 1. - - 33,699 (33,699) - - - - - 2. - - - - (143,928) - (143,928) (23,498) (167,426) 3. - - - (239,880) 239,880 - - - - 4. - - - - - - - - - ( ) - 1. - - - - - - - - - 2. - - - - - - - - - 3. - - - - - - - - - 4. - - - - - - - - - 959,522 5,807,332 1,364,758 3,831,231 239,880 (65,562) 12,137,161 751,247 12,888,408 126 226 112

2007 2006 ( ) 959,522 5,506,424 1,264,060 2,171,190 239,880 (15,981) 10,125,095 470,729 10,595,824 - - - 125,417 - - 125,417-125,417 959,522 5,506,424 1,264,060 2,296,607 239,880 (15,981) 10,250,512 470,729 10,721,241 ( ) - - - 766,972 - - 766,972 136,640 903,612 ( ) - 1. - - - - - - - - - 2. - 760 - - - - 760-760 3. - - - - - - - - - 4. - - - - - (16,899) (16,899) (7,429) (24,328) ( ) ( ) - 760-766,972 - (16,899) 750,833 129,211 880,044 126 226 113

2007 2006 ( ) ( ) 1. - - - - - - - 30,366 30,366 2. - 2,480 - - - - 2,480-2,480 3. - - - - - - - (31,169) (31,169) 4. - - - - - - - - - ( ) 1. - - 66,999 (66,999) - - - - - 2. - - - - (239,880) - (239,880) (37,245) (277,125) 3. - - - (143,928) 143,928 - - - - 4. - - - - - - - - ( ) 1. - - - - - - - - - 2. - - - - - - - - - 3. - - - - - - - - - 4. - - - - - - - - - 959,522 5,509,664 1,331,059 2,852,652 143,928 (32,880) 10,763,945 561,892 11,325,837 126 226 107 125 114

2007 2007 2006 ( ) 34,078,133 21,600,437 2,649,273 1,404,449 46 199,881 131,464 36,927,287 23,136,350 24,683,459 17,685,647 4,778,567 3,514,280 1,729,913 1,265,754 46 5,646,958 2,218,753 36,838,897 24,684,434 47 88,390 (1,548,084) 26,803 22,766 34,479 23,265 18,295 20,851 79,577 66,882 1,777,223 1,181,162 60,000 49,283 1,837,223 1,230,445 (1,757,646) (1,163,563) 126 226 115

2007 2007 2006 ( ) 503,138 30,366 17,207 30,366 6,981,386 3,093,148 7,484,524 3,123,514 3,117,701 1,147,875 538,488 509,886 66,259 116,312 3,656,189 1,657,761 3,828,335 1,465,753 8,607 (9,276) / 2,167,686 (1,255,170) 4,142,063 5,397,233 48 6,309,749 4,142,063 126 226 107 125 116

2007 12 31 2007 2006 ( ) 4,640,149 2,957,920 123,644-1,599,250 1,617,133 4 8,945,606 5,753,208 4 278,668 275,830 85,165 20,619 184,589 817,631 6 1,489,362 1,220,099 1,443,814 1,179,105 8,216,361 5,809,647 27,006,608 19,651,192 9 41,464 41,488 10 401,715 328,166 10 3,142,709 1,394,970 11 547,970 472,904 1,878,330 1,611,968 817,787 402,430 78,398 78,456 127,624 129,751 256,407 194,547 7,292,404 4,654,680 34,299,012 24,305,872 126 226 117

2007 12 31 2007 2006 ( ) 2,535,673 741,827 4 278,668 275,830 21 3,818,010 2,187,595 22 8,616,400 6,704,326 472,653 991,612 1,502,276 513,952 551,215 727,981 (1,056,962) (615,741) 500 378 2,643,437 701,726 21,695 14,404 78,463 243,417 1,509,569-20,971,597 12,487,307 911,322 1,329,478 10 3,142,709 1,394,970 3,689 3,689 34,408 32,058 80,000 80,000 4,172,128 2,840,195 25,143,725 15,327,502 959,522 959,522 5,772,061 5,474,393 769,603 769,603 1,417,872 1,632,417 239,880 143,928 (3,651) (1,493) 9,155,287 8,978,370 34,299,012 24,305,872 126 226 107 125 118

2007 2007 2006 ( ) 37 32,799,255 21,903,730 37 27,598,911 18,838,291 41,396 44,080 3,678,450 2,291,774 1,165,704 1,176,478 1,066,595 828,968 683,100 285,112 669,501 16,684 123,644-42 2,050,189 2,346,986 5,268 2,780 69,431 769,329 127,117 76,778 64,481 13,095 11,508 12,236 132,067 833,012 106,732 1,706 25,335 831,306 ( ) 0.03 ( ) 0.03 0.87 0.87 126 226 107 125 119

2007 2007 959,522 5,536,137 769,603 3,622,498 143,928 (3,578) 11,028,110 - (61,744) - (1,990,081) - 2,085 (2,049,740) 959,522 5,474,393 769,603 1,632,417 143,928 (1,493) 8,978,370 ( ) - - - 25,335 - - 25,335 ( ) 1. - - - - - - - 2. - - - - - - - 3. - - - - - - - 4. - - - - - (2,158) (2,158) ( ) ( ) - - - 25,335 - (2,158) 23,177 126 226 120

2007 2007 ( ) 1. - - - - - - - 2. - 297,668 - - - - 297,668 3. - - - - - - - ( ) 1. - - - - - - - 2. - - - - (143,928) - (143,928) 3. - - - (239,880) 239,880 - - 4. - - - - - - - ( ) 1. - - - - - - - 2. - - - - - - - 3. - - - - - - - 4. - - - - - - - 959,522 5,772,061 769,603 1,417,872 239,880 (3,651) 9,155,287 126 226 121

2007 2006 ( ) 959,522 5,532,896 769,603 3,116,070 239,880 (2,035) 10,615,936 - (60,983) - (2,171,031) - 2,087 (2,229,927) 959,522 5,471,913 769,603 945,039 239,880 52 8,386,009 ( ) - - - 831,306 - - 831,306 ( ) 1. - - - - - - - 2. - - - - - - - 3. - - - - - - - 4. - - - - - (1,545) (1,545) ( ) ( ) - - - 831,306 - (1,545) 829,761 126 226 122

2007 2006 ( ) ( ) 1. - - - - - - - 2. - 2,480 - - - - 2,480 3. - - - - - - - ( ) 1. - - - - - - - 2. - - - - (239,880) - (239,880) 3. - - - (143,928) 143,928 - - 4. - - - - - - - ( ) 1. - - - - - - - 2. - - - - - - - 3. - - - - - - - 4. - - - - - - - 959,522 5,474,393 769,603 1,632,417 143,928 (1,493) 8,978,370 126 226 107 125 123

2007 2007 2006 ( ) 29,194,282 20,378,716 1,986,659 810,891 158,803 91,495 31,339,744 21,281,102 26,772,364 19,211,544 1,884,394 1,503,266 132,293 161,113 2,538,701 2,134,330 31,327,752 23,010,253 11,992 (1,729,151) 10,146 9,430 29,534 9,196-3,942 39,680 22,568 1,276,510 778,177 65,151 6,340 1,341,661 784,517 (1,301,981) (761,949) 126 226 124

2007 2007 2006 ( ) 485,932-5,853,557 2,626,523 6,339,489 2,626,523 2,968,298 1,055,218 390,798 363,718 3,359,096 1,418,936 2,980,393 1,207,587 (8,758) (6,578) / 1,681,646 (1,290,091) 2,922,719 4,212,810 4,604,365 2,922,719 126 226 107 125 125

2007 12 31 126 (1997)452 453 1997 10 6 1997 11 18 2003 2003 12 2005 11 2006 12 29 1997 11 11 4403011015176 N35868 2004 12 9 2004 [2004]865 [2004]38 (H )160,151,040 158,766,450 1,384,590 2005 12 28 2007 12 31 95,952 32

2007 12 31 2006 2004 12 9 2007 11 1 2007 12 31 2007 2007 1. 釆 1 1 12 31 2. 3. 127

2007 12 31 4. ( ) 128

2007 12 31 5. 2007 12 31 6. 7. 129

2007 12 31 7. 8. 130

2007 12 31 9. 10. 131

2007 12 31 10. 11. 132

2007 12 31 11. 釆 30 5% 3.17% 5 5% 19% 5-10 5% 9.5%-19% 5-10 5% 9.5% 5 5% 19% 12. 13. 5 10 50 20 133

2007 12 31 13. 14. 15. 1) 2) 134

2007 12 31 15. 1 2 3 135

2007 12 31 15. 1 2 3 13 14 136

2007 12 31 15. ( ) 2 137

2007 12 31 15. 16. - - - 138

2007 12 31 16. - - 3 17. 139

2007 12 31 18. - - - 19. 140

2007 12 31 20. 21. 1 2002 1 1 ( ) ( ) / 141

2007 12 31 21. 22. 1) 2) 142

2007 12 31 22. 1) 2) 23. 24. 143

2007 12 31 24. 1) 2) 3) / / 144

2007 12 31 24. 15-14 - 19 145

2007 12 31 24. 146

2007 12 31 25. 2007 1 1 (1) [2003]10 [2003]10 10 2007 1 1 10 15 147

2007 12 31 25. (1) 2002 1 1 ( 50%) 2002 12 31 148

2007 12 31 25. (1) (i) 13 (ii) 14 38-1 2006 1 1 2006 12 31 149

2007 12 31 25. 2007 2006 5,509,664 1,331,059 2,911,544 561,892 5,506,424 1,264,060 2,411,070 470,729 - - 16,595 - - - - - - - 104,236 - - - 149,933 - - - 2,755 - - - 10,869 - - - (2,803) - - - (4,926) - - - (32,058) - - - (30,459) - - - (3,689) - - - - - 5,509,664 1,331,059 2,996,580 561,892 5,506,424 1,264,060 2,536,487 470,729 2007 2006 5,536,137 769,603 3,766,426 5,532,896 769,603 3,355,950 (61,744) - (2,058,664) (60,983) - (2,296,590) - - 104,236 - - 149,933 - - 2,755 - - 10,869 - - (2,661) - - (4,784) - - (32,058) - - (30,459) - - (3,689) - - - 5,474,393 769,603 1,776,345 5,471,913 769,603 1,184,919 150

2007 12 31 25. 2006 2006 807,353 16,595 (45,697) (8,114) 2,123 (1,599) (3,689) 766,972 2006 650,356 237,926 (45,697) (8,114) 2,123 (1,599) (3,689) 831,306 151

2007 12 31 25. (2) 1 14 14% ( ) 26. - 17% - 3% 5% 巿 - - - 152

2007 12 31 153 - - 15% 15% (2005) 0098 [2003]199 7.5% [2004]0372 7.5% [2005]672 2007 1 1 2007 12 31 15% (2004) 0034 7.5%

2007 12 31 (2005)0217 7.5% (2006)0002 7.5% 33 15% 2007 3 16 2008 1 1 25% 2008 1 1 2007 12 31 154

2007 12 31 ZTE Telecom India Private Limited 4,900 5,000 73% 25% 98% 75250847-2 5,000 5,000100% - 100% 5,000 5,000 165.4 5,000 90% 10% 99% 76199710-8 4,500 90% - 90% 279285671 165.4100% - 100% 2,428 723 76% - 76% 74537900-0 1,530 3,000 51% - 51% 75860475-6 4,579 3,958.3 80% - 80% 73205874-2 1,000 65065% - 65% 71869554-2 1,570 2,221 51% - 51% 14897470-9 4,125 5,500 75% 5% 80% 74886449-0 1,000 51051% - 51% 76223980-0 2007 22 155

2007 12 31 1. 2007 2006 ( ) 956 1.0000 956 285 1.0000 285 790 7.3046 5,771 1,004 7.8087 7,840 97 0.9364 91 95 1.0047 95 305 0.2431 74 460 0.2178 100 369 1.9428 717 179 2.0879 374 56 10.6669 597 - - - 3 4.1337 12 16 3.6523 58 9,156 0.0286 262 55,424 0.0293 1,624 1,750 0.1020 179 - - - 1,332 0.1852 247 6,349 0.1757 1,116 472 0.1191 56 871 0.1283 112 94,437 0.0008 76 - - - 522 442 9,560 12,046 156

2007 12 31 1. 2007 2006 ( ) 3,323,708 1.0000 3,323,708 1,888,669 1.0000 1,888,669 187,924 7.3046 1,372,710 196,734 7.8087 1,536,237 38,325 0.9364 35,888 183,311 1.0047 184,173 792,665 0.0064 5,073 785,968 0.0062 4,873 7,374 4.1337 30,482 1,565 3.6523 5,716 45,205 0.0641 2,898 70,793 0.0656 4,644 496,485 0.1191 59,131 296,882 0.1283 38,090 14,791 1.3257 19,608 9,777 1.3699 13,394 17,913 0.2986 5,349 66,091 0.3003 19,847 1,425 1.1265 1,605 17,503 1.1418 19,985 3,697 0.2431 899 25,725 0.2178 5,603 8,138,452 0.0008 6,511 6,473,333 0.0009 5,826 1,141,295 0.0038 4,337 1,543,143 0.0035 5,401 245,597 0.0005 123 5,698,000 0.0005 2,849 12,040 0.1852 2,230 98,549 0.1757 17,315 123,835 10.6669 1,320,936 23,042 10.2665 236,561 630,716 0.0034 2,144 1,248,889 0.0036 4,496 644 2.3189 1,493 1,781 2.5271 4,501 238,239 0.1020 24,300 199,541 0.1132 22,588 308 14.5807 4,491 236 15.5549 3,671 13,916 0.1771 2,465 - - - 165 5.9387 980 185 6.1005 1,129 101 6.4236 649 10,451 6.1559 64,335 321 1.9428 624 213 2.0879 445 4,290 2.1084 9,045 1,833 2.2789 4,177 9,371 2.1870 20,494 - - - 7,299 0.1155 843 - - - 146,822 0.0164 2,408 - - - 2,338 1.9879 4,648 - - - 8,121 0.1074 872 - - - 792,665 0.0064 5,073 - - - 17,307 - - 9,391 6,289,324 4,103,916 157

2007 12 31 1. 2007 2006 ( ) 172,328 1.0000 172,328 183,511 1.0000 183,511 271 7.3046 1,980 1,063 7.8087 8,301 246 0.9364 230 4 1.0047 4 40,091 0.2431 9,746 - - - - - - 49,986 0.0656 3,279 2 3 184,286 195,098 6,483,170 4,311,060 2007 2006 137,158 134,685 5,263 3,312 31,000 31,000 173,421 168,997 1 3 2. 2007 2006 ( ) - 123,644 - - 33,288 123,644 33,288 158

2007 12 31 3. 2007 2006 ( ) 745,257 461,300 911,001 1,197,106 1,656,258 1,658,406 2007 12 31 465,159 (2006 393,120 ) 5% 4. 1 2007 2006 ( ) 2,728,635 1.0000 2,728,635 2,593,325 1.0000 2,593,325 419,704 7.3046 3,065,770 226,191 7.8087 1,766,258 38,699 10.6669 412,798 10,505 10.2665 107,850 2,638,900 0.1191 314,293 2,894,521 0.1283 371,367 1,271,706 0.1852 235,520 88,282 0.1757 15,511 341,933 475,317 7,098,949 5,329,628 159

2007 12 31 4. 2007 2006 ( ) 1 6,870,741 4,861,538 1 2 221,696 448,583 2 3 6,512 13,124 3-6,383 7,098,949 5,329,628 2007 2006 ( ) 3,296,926 40.43% 670,836 20.35% 1,998,600 33.95% 243,177 12.17% 4,857,488 59.57% 384,629 7.92% 3,887,885 66.05% 313,680 8.07% 8,154,414 100% 1,055,465 5,886,485 100% 556,857 2007 556,857 498,608 - - 1,055,465 2006 ( ) 445,246 111,611 - - 556,857 2,077,764 (2006 12 31 2,108,159 ) 25.48% (2006 12 31 35.81% ) 160

2007 12 31 4. 2007 12 31 5% 8 (2006 12 31 2,074 ) 153,668 (2006 12 31 152,848 ) 2007 2006 ( ) 1,940,356 1,183,278 1 4,313,249 3,335,581 2007 6,253,605 4,518,859 2006 ( ) 2,533,099 1.0000 2,533,099 2,291,767 1.0000 2,291,767 717,414 7.3046 5,240,422 372,263 7.8087 2,906,890 101,305 0.9364 94,862 78,750 1.0047 79,120 93,039 10.6669 992,438 17,629 10.2665 180,988 84,785 294,443 8,945,606 5,753,208 161

2007 12 31 4. 2007 2006 ( ) 1 7,984,658 5,199,839 1 2 682,223 375,495 2 3 129,680 135,215 3 149,045 42,659 8,945,606 5,753,208 2007 2006 ( ) 2,650,376 26.95% 610,258 23.03% 1,621,186 26.05% 214,719 13.24% 7,183,078 73.05% 277,590 3.86% 4,601,250 73.95% 254,509 5.53% 9,833,454 100% 887,848 6,222,436 100% 469,228 2007 469,228 418,620 - - 887,848 2006 ( ) 411,737 57,491 - - 469,228 4,013,185 (2006 12 31 2,195,129 ) 40.81%(2006 12 31 35.28%) 2007 12 31 5% (2006 12 31 ) 162

2007 12 31 4. 278,668 (2006 12 31 275,830 ) 2007 2006 ( ) 1,786,532 1,622,895 1 6,008,454 3,446,014 5. 2007 7,794,986 5,068,909 2006 ( ) 1 311,362 100% 49,749 96.12% 1 2 - - 2,008 3.88% 311,362 100% 51,757 100% 2007 12 31 5% (2006 12 31 ) 30% 163

2007 12 31 6. : 2007 2006 ( ) 1 655,230 288,459 1 2 21,067 144,550 2 3 13,592 8,030 689,889 441,039 2007 2006 ( ) 42,719 6.19% - - 74,664 16.93% - - 647,170 93.81% - - 366,375 83.07% - - 689,889 100.00% - 441,039 100.00% - 137,856 (2006 12 31 102,539 ) 11.93% (2006 12 31 11.62%) 2007 12 31 5% 164

2007 12 31 6. 2007 2006 ( ) 1 679,584 67,929 1 2 64,419 542,977 2 3 487,966 529,674 3 257,393 79,519 1,489,362 1,220,099 2007 2006 ( ) 42,719 2.87% - - 74,664 6.12% - - 1,446,643 97.13% - - 1,145,435 93.88% - - 1,489,362 100% - 1,220,099 100% - 521,020 (2006 12 31 862,165 ) 29.95% (2006 12 31 53.35%) 2007 12 31 5% (2006 12 31 ) 165

2007 12 31 7. 2007 2006 ( ) 2,546,562 1,313,470 50,962 58,215 735,703 713,127 2,553,963 845,005 5,887,190 2,929,817 (523,760) (448,662) 2007 5,363,430 2,481,155 131,171 - (16,667) 114,504-7,779-7,779 8,577 29,289-37,866 308,914 54,697-363,611 2006 ( ) 448,662 91,765 (16,667) 523,760 86,161 45,010-131,171 1,599 - (1,599) - 5,779 2,798-8,577 422,419 - (113,505) 308,914 515,958 47,808 (115,104) 448,662 166

2007 12 31 7. 8. 2007 2006 ( ) 8,606,291 5,833,480 (1,597,314) (996,275) 7,008,977 4,837,205 (22,777,810 21,619,372 (15,768,833) (16,782,167) 7,008,977 4,837,205 4,942,904 3,094,588 2,066,073 1,742,617 7,008,977 4,837,205 167

2007 12 31 9. 2007 2006 ( ) 43,464 43,488 2007 5,000 - - 5,000 3,240 - - 3,240 32,000 - - 32,000 ( ) 1,024 - - 1,024 SunTop Technologies Ltd. 24 - (24) - 2,000 - - 2,000 200 - - 200 2006 ( ) 43,488 - (24) 43,464 5,000 - - 5,000 3,240 - - 3,240 32,000 - - 32,000 ( ) 1,024 - - 1,024 SunTop Technologies Ltd. 24 - - 24 2,000 - - 2,000-200 - 200 43,288 200-43,488 168

2007 12 31 9. 2007 2006 ( ) 41,464 41,488 2007 5,000 - - 5,000 3,240 - - 3,240 SunTop Technologies Ltd. 24 - (24) - ( ) 1,024 - - 1,024 32,000 - - 32,000 200 - - 200 2006 ( ) 41,488 - (24) 41,464 5,000 - - 5,000 3,240 - - 3,240 SunTop Technologies Ltd. 24 - - 24 ( ) 1,024 - - 1,024 32,000 - - 32,000-200 - 200 41,288 200-41,488 169

2007 12 31 10. 2007 2006 ( ) 762,395 372,703 1 - - (181,388) - 581,007 372,703 2007-181,388 - - 181,388 2006 ( ) - - - - - 3,142,709 (2006 12 31 1,399,206 ) 170

2007 12 31 10. 2007 2006 ( ) 583,103 328,166 1 - - (181,388) - 401,715 328,166 2007-181,388 - - 181,388 2006 ( ) - - - - - 3,142,709 (2006 12 31 1,394,970 ) 171

2007 12 31 11. 2007 2006 ( ) (1) 2,255 5,936 (2) 134,764 51,257 - - 2007 (1) 137,019 57,193 / 1 2 3 4 5=1+2+3+4 50% 2,500 (4,465) 649-1,965 - - - Bestel Communications Ltd. 50% 2,050-135 - 205 - - 2,255 4,550 (4,465) 784-2,170 - - 2,255 172

2007 12 31 11. 2007 (2) / 1 2 3 4 5=1+2+3+4 30% 1,800-1,203-928 - - 2,728 34% 30,000 (1,844) 4,505 - (10,357) - - 17,799 30% 3,000 (3,000) (4,076) - - - - - KAZNURTEL Limited Liability Company 49% 1,012 - - - 1,465 - - 2,477 30.88% 3,500-2,794-4,156 - - 7,656 22.73% 2,500-3,548 (1,177) 3,701 - - 6,201 40% 4,000 - (142) - (1,426) - - 2,574 30% 1,000-9,608-12,219 - - 13,219 30% 4,500-4,415-4,094 - - 8,594 ( ) 30% 4,500-114 - (1,092) - - 3,408 30% 3,335-3,017-3,819 - - 7,154 35% 3,500 - (326) - (639) - - 2,861 WANAAG Communications Limited 45% 351 - - - (258) - - 93 23.26% 60,000 - - - - - - 60,000 122,998 (4,844) 24,660 (1,177) 16,610 - - 134,764 173

2007 12 31 11 2007 Bestel Communications Ltd 600,000 50% 50% 280,000 30% 30% 64,000,000 34% 34% KAZNURTEL Limited Liability Company 3,000,000 49% 49% 11,332,729 30.88% 30.88% 11,000,000 22.73% 22.73% 10,000,000 40% 40% 2,500,000 30% 30% 18,000,000 30% 30% ( ) 15,000,000 30% 30% 17,151,174 30% 30% 10,000,000 35% 35% WANAAG Communications Limited 100,000 45% 45% 1,290,000,000 23.26% 23.26% 174

2007 12 31 11. 2007 175 20072007 2007 2007 Bestel Communications Ltd 4,606 96-270 29,841 21,467 52,323 4,009 116,375 64,027 150,091 13,250 KAZNURTEL Limited Liability Company 7,164 2,109 - - 78,612 54,142 270,923 9,048 114,381 87,102 129,443 15,609 37,259 30,824 43,153 (355) 126,493 78,929 228,724 32,027 77,980 42,789 72,725 14,717 ( ) 53,563 42,203 43,391 380 50,997 27,345 71,063 10,057 8,486 313 1,923 (931) WANAAG Communications Limited 2,343 3,236 2,644-258,000 - - - 2006 ( ) (1) /( ) 1 2 3 4 5=1+2+3+4 50% 2,500 - (797) - 1,316 - - 3,816 Bestel Communications Ltd. 50% 2,050-145 - 70 - - 2,120 4,550 - (652) - 1,386 - - 5,936

2007 12 31 11. 2006 ( ) (2) 1 2 3 4 5=1+2+3+4 30% 1,800 - (275) - (275) - - 1,525 40% 30,000-2,608 - (14,174) - - 15,826 30% 3,000-33 - (2,684) - - 316 KAZNURTEL Limited Liability Company 49% 1,012 - - - 1,465 - - 2,477 30.88% 3,500-1,264-1,362 - - 4,862 22.73% 2,500-1,455-1,330 - - 3,830 40% 4,000 - (260) - (1,284) - - 2,716 30% 1,000-4,004-3,815 - - 4,815 30% 4,500 - (168) - (320) - - 4,180 ( ) 30% 4,500-939 - (1,206) - - 3,294 30% 3,335 - (849) - 801 - - 4,136 35% 3,500 - (313) - (313) - - 3,187 WANAAG Communications Limited 45% 351 - (258) - (258) - - 93 62,998-8,180 - (11,741) - - 51,257 176

2007 12 31 11. 2007 2006 ( ) (3) 577,351 560,240 (4) - 3,816 (5) 83,684 21,913 (6) (113,065) (113,065) 547,970 472,904 177

2007 12 31 11. 2007 (3) 45,000 45,000 - - 45,000 ZTE (USA) Inc. 5,381 5,381 - - 5,381 3,920 3,920 - - 3,920 ( ) 53,200 53,200 - - 53,200 15,698 15,698 - - 15,698 Telrise (Cayman) Telecom Ltd. 15,770 21,165 - - 21,165 29,700 29,700 - - 29,700 Congo-Chine Telecom S.A.R.L 55,800 55,800-55,800 3,900 3,900 - - 3,900 45,799 45,799 - - 45,799 24,282 23,982 - - 23,982 ZTE (UK) Ltd. 4,533 5,286 - - 5,286 ZTE Do Brasil LTDA 10,058 10,058 8,515-18,573 38,609 36,500 - - 36,500 41,250 41,250 - - 41,250 ZTE Wistron Telecom AB 2,445 3,137 - - 3,137 ZTE-Communication Technologies, Ltd. 4,188 4,188 - - 4,188 ZTE Corporation Mexico S. DE R. L DE C.V. 41 41 - - 41 15,300 15,300 - - 15,300 Zhongxing Telecom Pakistan (Private) Ltd. 2,971 2,971 - - 2,971 13,500 13,500 - - 13,500 45,000 45,000 - - 45,000 5,100 5,100 - - 5,100 ZTE Holdings (Thailand) Co., Ltd. 10 10 - - 10 ZTE (Thailand) Co., Ltd. 2,044 2,044 2,996-5,040 540 540 - - 540 ZTE Telecom India Private Ltd. 1,654 1,654 - - 1,654 ZTE Romania S.R.L. 827 827 - - 827 ZTE (Malaysia) Corporation SDN.BHD. 496 496 - - 496 ZiMax (Cayman) Holding Ltd. 45,485 45,485 - - 45,485 11,396 11,396 - - 11,396 Closed Joint Stock Company TK Mobile 4,258 4,258 - - 4,258 PT. ZTE Indonesia 1,654 1,654 - - 1,654 6,000 6,000 - - 6,000 - - 600-600 - - 5,000-5,000 560,240 17,111-577,351 178

2007 12 31 11. 2007 (4) /( ) 1 2 3 4 5=1+2+3+4 50% 2,500 (4,465) 649-1,965 - - - (5) /( ) 1 2 3 4 5=1+2+3+4 34% 30,000 (1,844) 4,505 - (10,357) - - 17,799 30% 3,000 (3,000) - - - - - - KAZNURTEL Limited Liability Company 49% 1,012 - - - 1,465 - - 2,477 ( ) 30% 4,500-114 - (1,092) - - 3,408 23.26% 60,000 - - - - - - 60,000 98,512 (4,844) 4,619 - (9,984) - - 83,684 179

2007 12 31 11. 2007 (6) ZTE (USA) Inc. 5,381 Telrise (Cayman) Telecom Ltd. 12,970 23,767 3,900 17,657 ZTE(UK) Ltd. 4,533 ZTE Do Brasil LTDA 10,059 4,591 ZTE Wistron Telecom AB 2,030 ZTE Corporation Mexico S. DE R. L DE C.V. 41 Zhongxing Telecom Pakistan (Private) Ltd. 2,971 9,656 ZTE Holdings (Thailand) Co., Ltd. 10 ZTE (Thailand) Co., Ltd. 205 ZTE Telecom India Private Ltd. 1,654 ZTE Romania S.R.L. 827 ZTE (Malaysia) Corporation SDN.BHD. 496 ZiMax (Cayman) Holding Ltd. 12,317 113,065 180

2007 12 31 11. 2006 ( ) (3) 45,000 45,000 - - 45,000 9,000 9,430 - (9,430) - ZTE (USA) Inc. 5,381 5,381 - - 5,381 3,920 3,920 - - 3,920 ( ) 53,200 53,200 - - 53,200 15,698 15,698 - - 15,698 Telrise (Cayman) Telecom Ltd. 15,770 21,165 - - 21,165 29,700 29,700 - - 29,700 Congo-Chine Telecom S.A.R.L 55,800 24,298 31,502 55,800 3,900 3,900 - - 3,900 45,799 45,799 - - 45,799 24,282 23,982 - - 23,982 ZTE (UK) Ltd. 4,533 5,286 - - 5,286 ZTE Do Brasil LTDA 10,058 10,058 - - 10,058 38,609 26,751 9,749-36,500 41,250 41,250 - - 41,250 ZTE Wistron Telecom AB 2,445 3,137 - - 3,137 ZTE-Communication Technologies, Ltd. 4,188 4,188 - - 4,188 ZTE Corporation Mexico S. DE R. L DE C.V. 41 41 - - 41 15,300 15,300 - - 15,300 Zhongxing Telecom Pakistan (Private) Ltd. 2,971 2,971 - - 2,971 13,500 9,000 4,500-13,500 45,000 45,000 - - 45,000 5,100 5,100 - - 5,100 ZTE Holdings (Thailand) Co., Ltd. 10 10 - - 10 ZTE (Thailand) Co., Ltd. 2,044 204 1,840-2,044 540 540 - - 540 ZTE Telecom India Private Ltd. 1,654 1,654 - - 1,654 ZTE Romania S.R.L. 827 827 - - 827 ZTE (Malaysia) Corporation SDN.BHD. 496 496 - - 496 ZiMax (Cayman) Holding Ltd. 45,485 45,485 - - 45,485 11,396 11,396 - - 11,396 Closed Joint Stock Company TK Mobile 4,258 4,258 - - 4,258 PT. ZTE Indonesia 1,654 1,654 - - 1,654 6,000 6,000 - - 6,000 181 522,079 47,591 (9,430) 560,240

2007 12 31 11. 2006 ( ) (4) 1 2 3 4 5=1+2+3+4 50% 2,500 - (797) - 1,316 - - 3,816 (5) 1 2 3 4 5=1+2+3+4 40% 30,000-2,608 - (14,174) - - 15,826 30% 3,000-30 - (2,684) - - 316 KAZNURTEL Limited Liability Company 49% 1,012 - - - 1,465 - - 2,477 ( ) 30% 4,500-939 - (1,206) - - 3,294 38,512 3,577 - (16,599) - - 21,913 182

2007 12 31 11. 2006 ( ) (6) ZTE (USA) Inc. 5,381 - - 5,381 Telrise (Cayman) Telecom Ltd. 12,847 123-12,970 23,767 - - 23,767 3,900 - - 3,900 17,657 - - 17,657 ZTE(UK) Ltd. 4,533 - - 4,533 ZTE Do Brasil LTDA 10,059 - - 10,059-4,591-4,591 ZTE Wistron Telecom AB 2,030 - - 2,030 ZTE Corporation Mexico S. DE R. L DE C.V. 41 - - 41 Zhongxing Telecom Pakistan (Private) Ltd. 2,971 - - 2,971 9,656 - - 9,656 ZTE Holdings (Thailand) Co., Ltd. 10 - - 10 ZTE (Thailand) Co., Ltd. 205 - - 205 ZTE Telecom India Private Ltd. 1,654 - - 1,654 ZTE Romania S.R.L. 827 - - 827 ZTE (Malaysia) Corporation SDN.BHD. 496 - - 496 ZiMax (Cayman) Holding Ltd. 12,317 - - 12,317 108,351 4,714-113,065 183

2007 12 31 12. 2007 1,007,029 1,774,751 1,195,875 238,044 18,875 4,234,574 58,629 357,289 274,757 45,090 21,418 757,183 228,136-75,164 - - 303,300 (1,699) (137,141) (32,007) (20,163) (2,666) (193,676) (414) (49,425) (1,485) (856) 118 (52,062) 1,291,681 1,945,474 1,512,304 262,115 37,745 5,049,319 191,732 820,411 453,671 80,211 9,689 1,555,714 58,841 208,575 206,926 25,802 6,726 506,870 (45) (97,441) (16,975) (12,560) (947) (127,968) (69) (8,661) (1,287) (282) (63) (10,362) 250,459 922,884 642,335 93,171 15,405 1,924,254 7,708 77,819 1,475 - - 87,002 1,033,514 944,771 868,494 168,944 22,340 3,038,063 807,589 876,521 740,729 157,833 9,186 2,591,858 2007 12 31 96,478 (2006 100,190 ) 3,990 8,906 121,044 173,634 (2006 12 31 229,981 ) 8,682 (2006 12 31 11,499 ) (2006 12 31 ) 184

2007 12 31 12. 2007 2007 12 31 42,246 (2006 12 31 238,060 ) 2006 ( ) 969,254 1,419,878 1,009,942 210,369 14,497 3,623,940 11,066 424,238 208,510 40,399 5,600 689,813 27,178 33,374 - - - 60,552 - (92,846) (21,704) (12,375) (1,401) (128,326) (469) (9,893) (873) (349) 179 (11,405) 1,007,029 1,774,751 1,195,875 238,044 18,875 4,234,574 138,497 607,436 331,685 64,229 6,942 1,148,789 53,270 290,035 132,769 23,589 3,638 503,301 - (74,478) (10,704) (7,502) (858) (93,542) (35) (2,582) (79) (105) (33) (2,834) 191,732 820,411 453,671 80,211 9,689 1,555,714 7,708 85,797 1,475 - - 94,980 - - - - - - - (7,978) - - - (7,978) 7,708 77,819 1,475 - - 87,002 807,589 876,521 740,729 157,833 9,186 2,591,858 823,049 726,645 676,782 146,140 7,555 2,380,171 185

2007 12 31 13. 2007 650,000 191,818 376,999 97,000 471,817 87.51% 90,457 55,039 122,000 23,496 92,667 136,785-229,452 18,090 68,744-86,834 60,747 122,546 75,163 108,130 15,857 4,641 9,137 11,361 2006 ( ) 469,636 764,754 303,300 931,090 650,000 46,665 145,153-191,818 29.51% 6,008 84,449-90,457-92,667-92,667 1,162 16,928-18,090 34,129 26,618-60,747 12,195 15,003 27,198-14,589 2,998 17,587-9,440-9,440-2,553 19,631 6,327 15,857 126,741 403,447 60,552 469,636 186

2007 12 31 14. 2007 272,443 1,354 14,866 103,006 391,669 96,698-32,943-129,641 (5,195) - - (4,387) (9,582) 363,946 1,354 47,809 98,619 511,728 166,916 316 840 43,782 211,854 46,477 308 586 3,439 50,810 (1,673) - - (1,067) (2,740) 211,720 624 1,426 46,154 259,924 12,884-6,322 7,750 26,956 139,342 730 40,061 44,715 224,848 92,643 1,038 7,704 51,474 152,859 2007 12 31 54,183 44,654 187

2007 12 31 14. 2006 ( ) 230,209 1,354 13,333 104,614 349,510 42,234-1,533-43,767 - - - (1,608) (1,608) 272,443 1,354 14,866 103,006 391,669 121,216-474 40,600 162,290 45,700 316 366 3,182 49,564 - - - - - 166,916 316 840 43,782 211,854 12,884-6,322 7,750 26,956 92,643 1,038 7,704 51,474 152,859 96,109 1,354 6,537 56,264 160,264 15. 2007 2006 ( ) 209,475 129,751 49,516-258,991 129,751 188

2007 12 31 15. 2007 2006 ( ) 3,210,433 2,832,686 181,481-16. / 2007 7,298 34,562 51,141 87,516 53,166 (27,968) 5,208 210,923 54,785 (23,930) 20,014 49,179 12,284 (28,492) 987 84,827 62,083 10,632 71,155 136,695 65,450 (56,460) 6,195 295,750 2006 ( ) 4,474 37,350 - - 39,069 (26,614) 5,308 59,587 2,824 (2,788) 51,141 87,516 14,097 (1,354) (100) 151,336 7,298 34,562 51,141 87,516 53,166 (27,968) 5,208 210,923 2007 12 31 389,043 (2006 12 31 210,256 ) 2011 189

2007 12 31 17. (Algerie Telecom) 5 5 2007 12 31 5 2007 48,498 40,415 - (6,921) (15,004) 33,494 2006 ( ) 48,498 13,996 34,503 (8,084) (8,084) 40,415 18. 2007 556,857 714,042-1,270,899 448,662 91,765 (16,667) 523,760 87,002 - - 87,002 26,956 - - 26,956 2006 ( ) 1,119,477 805,807 (16,667) 1,908,617 466,244 90,613 - - 556,857 515,958 47,808 (115,104) - 448,662 94,980 - - (7,978) 87,002 26,956 - - - 26,956 1,104,138 138,421 (115,104) (7,978) 1,119,477 190

2007 12 31 19. 2007 2006 ( ) 808,990 808,990 78,900 78,900 276,992 2,023,231 95,000 741,826 160,000 29,634 - - * 3,000 3,000 125,000 125,000 29,000 29,000 - - 2,893,855 945,726 * 399 4.425-9.126% 20. 2006 5 2018 9 3,689 21. 2007 2006 ( ) 3,946,429 2,242,566 2007 12 31 5% (2006 12 31 ) 191

2007 12 31 21. 2007 2006 ( ) 3,130,628 1,816,066 687,382 371,529 3,818,010 2,187,595 2007 12 31 5% (2006 12 31 ) 22. 6 2007 12 31 5% 88,023 (2006 12 31 147,860 ) 2007 12 31 5% (2006 12 31 ) 23. 2007 12 31 5% (2006 12 31 ) 192

2007 12 31 24. 2007 668,307 4,360,358 (4,131,693) 896,972 133,867 263,295 (353,199) 43,963 3,578 217,942 (212,475) 9,045 369 51,190 (51,110) 449 3,057 147,596 (142,242) 8,411 92 8,246 (8,226) 112 23 7,615 (7,610) 28 37 3,295 (3,287) 45 1,397 2,303 (1,910) 1,790 251,655 117,704 (79,290) 290,069 2006 ( ) 1,058,804 4,961,602 (4,778,567) 1,241,839 622,804 2,877,822 (2,832,319) 668,307 273,053 274,108 (413,294) 133,867 3,753 208,596 (208,771) 3,578 353 49,805 (49,789) 369 3,255 144,225 (144,423) 3,057 88 5,469 (5,465) 92 22 6,643 (6,642) 23 35 2,454 (2,452) 37 1,393 1,547 (1,543) 1,397 247,165 62,843 (58,353) 251,655 1,148,168 3,424,916 (3,514,280) 1,058,804 193

2007 12 31 25. 2007 2006 ( ) (1,804,841) (1,026,553) 6,504 4,752 2,328 6,000 399,502 297,913 43,971 67,950 355,531 229,963 6,584 8,891 19,580 14,936 28,013 3,294 26. (1,342,330) (690,767) 2007 2006 ( ) - - 41,180 83,941 194 41,180 83,941 27. 2007 4,035 36,603 (4,035) 36,603 31,645 10,414 (11,688) 30,371 256,152 61,793 (258,877) 59,068 291,832 108,810 (274,600) 126,042

2007 12 31 27. 2006 ( ) 4,035 - - 4,035 16,000 33,855 (18,210) 31,645 274,733 114,724 (133,305) 256,152 28. 294,768 148,579 (151,515) 291,832 2007 2006 ( ) 485,931-298,823 310,837 338,384 193,270 51,372 15,114 139,547 188,967 1,314,057 708,188 2007 12 31 5% 313 (2006 12 31 361 ) 29. 2007 2006 ( ) 29 1,509,569-195

2007 12 31 30. 2007 2006 ( ) RMB 1,400,000 1,400,000 900,000 900,000 2008 USD 50,000 365,230 40,000 312,348 2009-2010 USD 20,000 146,092 - - 2010 111,929 117,157 2008-2010 USD 63,000 460,190 2009 1 USD 55,200 403,214 34,500 269,737 2012 2 RMB 708,143 708,143 80,000 80,000 2009-2012 3 (1,509,569) - 2,085,229 1,679,242 2.00-11.50% 1 Congo-Chine Telecom S.A.R.L. 51% 25% 2 Closed Joint Stock Company Tajik-China Mobile 3 4 31. 196 80,000 2001 8,000 2002