( ) SHENZHEN TELLUS HOLDING CO.,LTD

2005 2 2 4 6 7 9 12 46 1

2005 1 ( ) Shenzhen Tellus Holding Co., Ltd. Tellus 2 ST A 000025 2 ST B 200025 3 56 518031 sztljtgf@public.szptt.net.cn 4 5 (0755)83989338 (0755)83989399 szryj@tom.com : ( ) : (0755)83989363 : (0755)83989339 ndbridge@163.com 6 http://www.cninfo.com.cn

2005 1 2005 % 542,973,594.15 541,586,257.08 0.26 788,600,188.06 785,161,838.17 0.44 1,068,873,568.54 1,063,458,822.65 0.51 217,029,255.76 216,276,817.86 0.35 0.985 0.982 0.31 0.18 0.14 28.57 1 6 409,587.98-2,931,330.65 113.97% 1,843,429.54-3,333,822.34 155.29% 0.002-0.013 115.38% % 0.19-1.36 1.55 99,757,526.57-83,725,379.44 219.15% 9 2005 6 (%) ( / ) 3

2005 24.05 24.11 0.24 0.24 2.81 2.82 0.028 0.028 0.19 0.19 0.002 0.002 0.85 0.85 0.008 0.008 ( ) 446,986.06 1,880,827.62-1,433,841.56 2 1 2005 1-6 2004 1-6 530,653 657,166 410-2,931 210,357 202,512 0.002-0.013 0.955 0.919 % 0.19-1.45 % 19.68 17.16 2 2005 1-6 2004 1-6 530,653 657,166 410-2,931 1,068,874 1,180,294 217,029 208,807 0.002-0.013 0.985 0.948 % 0.19-1.40 % 20.30 17.69 2005 6 30 14,441 4

2005 A 10,582 B 3,859 (%) 1 0 159,588,000 72 45 2 567,659 0.26 3 330,000 0.15 4 303,487 0.14 5 DBS VICKERS HONG KONG LTD 261,100 0.12 A/C CLIENTS 6 201,000 0.09 7 195,800 0.09 8 195,800 0.09 9 181,148 0.08 10 ( 180,088 0.08 ) 10 1 567,659 A B 2 330,000 B 3 303,487 A 4 DBS VICKERS HONG KONG LTD A/C CLIENTS 261,100 B 5 201,000 A 5

2005 6 195,800 A 7 195,800 B 8 181,148 A 9 180,088 A 10 180,000 B 72.45% 158,282 100% 43.30% 28.87% 26.03% 1.80% 2005 4 2 0 0 0 0 0 0 0 0 9000 9000 0 0 0 0 0 0 0 0 6

2005 0 0 0 0 0 0 500 500 0 0 0 0 0 0 0 0 2005 4 27 2005 4 29 2005 6 3 2004 2005 6 4 1 1 53,065 65,717 12,652 19.25% 2 47,545 60,167 12,622 20.98% 3 4,774 5,413 639 11.8% 1,770 2,083 313 15.03% 2,626 2,680 54 378 650 272 41.85% 4 417 102 7

2005 315 41-293 334 2 1 2005 6 106,887 54,297 13,133 38,457 1,001 2 2005 6 79,881 78,860 588 433 3 2005 6 27,006 21,703 5,303 2005 1 % % % % 35,922,967.53 27,395,393.57 23.74-13.15-14.02 0.77 444,830,383.36 424,747,041.71 4.51-22.58-23.14 0.69 31,879,703.25 13,175,039.47 58.67 30.58 74.38-10.38 18,019,634.48 10,131,851.53 43.77 7.08 5.00 1.11 530 652 688.62 475,449,326.28 10.40-19.25-20.98 1.95 2 3 4 10% 5 2005 8

2005 9 1 2 3 4 5 1 2 2005 3 3 2000 700 35% 1300 65% 42 500 / 2005 3 5 2005 7 16

2005 1 2 1300 2005 1 27 50% 60% 2005 2 2 200 95% 5760 3311 1 3362 2 10 8618 2 39 71% 50% 3600

2005 70% 3600 50% 0 3600 50% 3600 70% 3600 1 2 3 ( ) ( ) ( ) 2005 3 31 4 : 2004 12 31 2005 6 30 105,066,595.24 105,530,622.00 5 1 8618.20 200 3362.2 3600 21703 39.71 50% 2 200 1997 3 3600 1996 2002 7 35% 11

2005 1 2 3 5% 5% 5% 1 2 2005 12

2005 2005 6 30 1 6,097,115.83 125,339,522.96 6,712,500.91 164,524,685.78 2 0.00 0.00 0.00 0.00 3 0.00 0.00 0.00 94,160.00 4 0.00 0.00 0.00 0.00 5 0.00 0.00 0.00 0.00 6 242,401.54 25,180,824.11 242,401.54 29,169,635.18 7 204,952,113.40 212,353,236.10 198,991,169.48 201,738,706.93 8 0.00 13,839,707.54 20,249,873.78 9 0.00 670,659.95 0.00 602,284.46 10 193,886.58 163,986,348.16 193,886.58 125,210,958.63 11 0.00 215,958.26 579,754.91 1,383,289.39 12 13 0.00 14 211,485,517.35 541,586,257.08 206,719,713.42 542,973,594.15 15 363,738,649.92 124,762,267.15 380,075,849.92 131,203,717.15 16 121,300.00 121,300.00 17 363,738,649.92 124,883,567.15 380,075,849.92 131,325,017.15 18 19 182,898,372.76 555,377,239.45 182,971,465.76 556,478,257.36 20 50,736,398.56 161,320,306.48 53,436,356.37 170,795,376.58 21 132,161,974.20 394,056,932.97 129,535,109.39 385,682,880.78 22 3,555,385.70 4,231,301.32 3,555,385.70 4,231,301.32 23 128,606,588.50 389,825,631.65 125,979,723.69 381,451,579.46 24 25 1,361,199.72 3,135,937.06 26-18,000.00 27 128,606,588.50 391,186,831.37 125,979,723.69 384,569,516.52 28 1,325,259.55 1,325,259.55 1,325,259.55 1,325,259.55 29 1,192,603.67 4,476,907.50 1,674,393.61 8,680,181.17 30 31 2,517,863.22 5,802,167.05 2,999,653.16 10,005,440.72 32 33 706,348,618.99 1,063,458,822.65 715,774,940.19 1,068,873,568.54 13

2005 34 311,197,130.41 387,462,130.41 308,580,130.41 370,386,130.41 35 100,174,500.00 161,369,624.00 36 1,554.00 38,269,043.42 1,554.00 36,731,195.46 37 47,091,893.33 33,689,187.58 38 644,200.00 7,398,692.89 5,074,885.49 39 992,285.50 5,837,824.23 659,302.93 4,693,884.99 40 1,674,491.98 174,491.98 41 2,267,754.00 63,448.89 3,033,030.41 3,101,046.82 42 2,245.73 6,657,775.56 5,651.66 6,626,413.50 43 147,607,621.21 153,461,153.36 160,206,225.55 129,873,443.74 44 2,088,702.67 11,982,484.10 1,768,341.16 11,791,484.09 45 25,088,400.00 25,088,400.00 25,088,400.00 25,088,400.00 46 47 48 489,889,893.52 785,161,838.17 499,342,636.12 788,600,188.06 49 50 51 6,612,736.66 5,879,736.66 52 2005 6 30 53 54 0.00 6,612,736.66 0.00 5,879,736.66 55 5,632,598.65 4,327,749.24 56 489,889,893.52 797,407,173.48 499,342,636.12 798,807,673.96 57 49,774,831.31 53,036,638.82 58 220,281,600.00 220,281,600.00 220,281,600.00 220,281,600.00 59 60 220,281,600.00 220,281,600.00 220,281,600.00 220,281,600.00 61 173,809,370.57 173,809,370.57 173,809,370.57 173,809,370.57 62 54,295,698.45 54,295,698.45 54,295,698.45 54,295,698.45 63 3,218,372.66 3,210,576.83 3,218,372.66 3,210,576.83 64-231,927,943.55-231,927,943.55-231,954,364.95-231,175,505.65 65 66 0.00-181,907.61 0.00-181,907.61 67 216,458,725.47 216,276,817.86 216,432,304.07 217,029,255.76 68 216,458,725.47 266,051,649.17 216,432,304.07 270,065,894.58 69 706,348,618.99 1,063,458,822.65 715,774,940.19 1,068,873,568.54 14

2005 2005 1-6 ( ) 1 8,737,312.98 530,652,688.62 6,697,567.82 657,166,444.94 2 1,538,741.47 475,449,326.28 1,765,523.39 601,665,562.44 3 454,340.27 3,011,022.51 348,273.52 2,820,159.86 4 6,744,231.24 52,192,339.83 4,583,770.91 52,680,722.64 5 0.00 1,661,809.43-56,359.16 1,126,758.52 6 17,703,431.83 20,832,994.55 7 7,415,242.43 26,263,902.70 8,804,681.43 26,795,724.44 8 3,307,895.79 3,779,768.41 4,341,083.08 6,498,105.78 9-3,978,906.98 6,107,046.32-8,618,352.76-319,343.61 10 3,685,482.90-508,117.10 5,428,119.90 940,919.90 11 0.00 12 21,924.63 446,986.06 3,254.83 424,514.81 13 202,352.59 1,880,827.62-158,914.40 22,023.12 14-473,852.04 4,165,087.66-3,028,063.63 1,024,067.98 15 932,653.84 1,291,207.74 16 2,822,845.84 2,664,190.89 17-473,852.04 409,587.98-3,028,063.63-2,931,330.65 18-231,927,943.55-231,927,943.55-236,247,697.83-236,247,697.83 19 447,430.64 342,849.92 447,430.65-668,290.47 20-231,954,364.95-231,175,505.65-238,828,330.81-239,847,318.95 21 22 23 24 25 26 27-231,954,364.95-231,175,505.65-238,828,330.81-239,847,318.95 28 29 30 31 32-231,954,364.95-231,175,505.65-238,828,330.81-239,847,318.95 15

2005 ( ) 2005 1-6 605,723,191.93 10,549,871.15 2,836.66 148,730,635.29 31,525,733.23 754,456,663.88 42,075,604.38 406,319,047.86 36,480,148.41 3,960,618.09 18,739,301.11 622,895.51 193,160,639.93 27,771,468.29 654,699,137.31 32,354,981.89 99,757,526.57 9,720,622.49 3,320,000.00 3,200,000.00 64,432.90 2,005,982.90 15,000.00 0.00 0.00 3,399,432.90 5,205,982.90 2,252,157.14 92,823.00 7,000,000.00 7,000,000.00 4,595,431.68 13,847,588.82 7,092,823.00-10,448,155.92-1,886,840.10 150,000.00 48,600,000.00 7,000,000.00 14,621,855.43 0.00 63,371,855.43 7,000,000.00 66,263,850.00 9,546,000.00 7,353,682.25 4,671,681.99 39,878,327.99 455.32 113,495,860.24 14,218,137.31-50,124,004.81-7,218,137.31-203.02-260.00 39,185,162.82 615,385.08 16

2005 1 409,587.98-473,852.04 2,822,845.84 297,271.38 0.00 10,489,513.64 2,725,000.49 2,004,650.84 336,534.04-1,184,632.85-579,754.91-248,744.44-320,361.51 43,747.70 0.00 12,800.00 4,767,921.84 3,307,895.79 508,117.10-3,685,482.90 1,924,352.70 38,613,841.71 0.00-29,604,683.65-1,042,099.07 68,914,225.13 9,452,742.60-13,288.35 99,757,526.57 9,720,622.49 2 ( ) 2005 1-6 3 164,524,685.78 6,712,500.91 125,339,522.96 6,097,115.83 39,185,162.82 615,385.08 17

2005 : 2005 6 : 6,281,133.35 70,399,966.45 - - - - - 475,024.24-475,024.24 6,281,133.35 69,924,942.21 :242,401.54 32,485,787.13 - - - 467,556.19 467,556.19 242,401.54 32,018,230.94 6,038,731.81 37,914,179.32 - - 7,468.05 7,468.05 6,038,731.81 37,906,711.27 : 2,195,632.05 17,396,443.68 - - - - - 29,059.83-29,059.83 2,195,632.05 17,367,383.85 :2,195,632.05 12,314,825.02 29,059.83 29,059.83 2,195,632.05 12,285,765.19 2,754,848.20-2,754,848.20 2,326,770.46-2,326,770.46 - - 17,780,900.00 35,013,971.13 - - - - - - - - 17,780,900.00 35,013,971.13 : 17,780,900.00 35,013,971.13 17,780,900.00 35,013,971.13 3,555,385.70 4,231,301.32 - - - - - - - - 3,555,385.70 4,231,301.32 : 3,555,385.70 3,577,414.70 3,555,385.70 3,577,414.70 650,147.31-650,147.31 - - - 3,739.31-3,739.31 : 18

2005 1 2 3 4 5 6 19

2005 2005 6 (%) ( / ) 24.05 24.11 0.24 0.24 2.81 2.82 0.028 0.028 0.19 0.19 0.002 0.002 0.85 0.85 0.008 0.008 20

2005 1992 1850 1994 6 1993 6 1993 34 1993 22 1997 3 31 [1997]19 [1997]5 15958.8 72.45% 01141 098 1. 2. 1 1 12 31 3. 4. 5. 6. 21

2005 7. 8. a. b. 3 3% 3 50% 100% 9. 10. 1 a. b. 22

2005 c. a 10 b 2003 10 10 2003 10 d. 20% 20% 20% 20% 2 3 23

2005 11. 1 2000 2 3 4 3% 35 2.77% 12 8.08% 7 13.86% 7 13.86% 7 13.86% 5 6 12. 24

2005 13. 1 a. b. c. 2 a. b. 3 3 4 14. 10 15. 16. 25

2005 1 2 3 1 2 17. 18. 19. 20. 21. 50% 26

2005 1999 10 0% 17% 6% 5% 5% 1% 15% ( ) 3290 100% 705 100% 3115 100% 725 100% 5896 100% USD500 60% 200 100% 200 60% 1000 100% * 2188 25.23% 300 90% 27

2005 * **.1 2004.12.31 2005. 6.30 CNY 2,586,539.81 2,586,539.81 1,067,134.18 1,067,134.18 HKD 35,706.26 1.0637 37,940.90 25,548.01 1.0892 27,827.49 USD 2,561.00 8.2765 21,202.08 2,561.00 8.2788 21,202.10 JPY 113,240.54 0.0797 9,088.58 251,085.00 0.0771 19,370.00 2,564,771.37 1,135,533.77 CNY 79,315,326.75 79,315,326.75 157,025,407.87 157,025,407.87 HKD 938,239.71 1.0637 998,461.09 195,131.16 1.0628 207,382.18 USD 35,532.82 8.2765 294,211.67 35,573.18 8.2758 294,396.81 JPY 43,007,642.00 0.0797 3,427,752.08 84,035,751.59 157,527,186.86 CNY 38,649,000.00 38,649,000.00 5,861,965.15 5,861,965.15 125,339,522.96 164,524,685.78.2 2004.12.31 2005.6.30 1 14,011,156.87 24.30 420,334.71 12,605,191.85 20.60 450,533.43 1-2 2,190,457.51 3.80 65,713.73 4,721,734.85 7.72 16,631.75 2-3 1,434,567.08 2.49 43,037.01 371,420.22 0.61 32,981.12 3 40,030,429.78 69.41 31,956,701.68 43,489,519.20 71.07 31,518,084.64 67,666,611.24 100 32,485,787.13 61,187,866.12 100 32,018,230.94 5% 5%.3 2004.12.31 2005.6.30 28

2005 1 25,286,723.23 10.10 704,539.12 26,965,021.07 11.25 1,412,824.50 1-2 9,823,050.48 3.33 221,807.51 16,406,828.66 6.85 98,265.36 2-3 3,580,429.45 2.03 71,045.41 4,129,896.77 1.72 96,970.75 3 211,577,212.26 84.54 36,916,787.28 192,143,671.70 80.18 36,298,650.66 250,267,415.42 100 37,914,179.32 239,645,418.20 100 37,906,711.27 5% 5% 18139.98 75.70%.4 2004.12.31 2005.6.30 1 10,072,122.39 72.78 16,350,667.57 80.74 1-2 3,612,725.85 26.10 3,480,534.51 17.19 2-3 154,859.30 1.12 373,871.70 1.85 3 -- -- 44,800.00 0.22 13,839,707.54 100 20,249,873.78 100 5% 5%.5 2004.12.31 2005.6.30 8,873,519.39 2,754,848.20 9,207,697.78 2,754,848.20 4,333,410.51 -- 4,733,689.13 125,956,349.93 12,314,825.02 111,984,255.55 12,285,765.19 2,596,474.12 -- 101,577.78 37,743.41 -- 8,756.50 11,457,105.44 2,326,770.46 11,457,105.44 2,326,770.46 28,128,189.04 -- 16,542,365.74 181,382,791.84 17,396,443.68 142.578.342.48 17,367,383.85.6 74,172.03 36,373.54 75,730.60 34,814.97 29

2005 31,633.84 17,480.65 23,457.21 25,657.28 43,003.74 6,354.00 24,678.90 24,678.84 6,297.00 21,400.00 27,697.00 3,345.00 3,345.00 24,895.10 15,545.50 9,349.60 1,006,230.07 415,168.89 591,061.18 57,506.65 1,305,621.40 665,400.53 697,727.52 215,958.26 2,418,354.76 1,251,023.63 1,383,289.39.7 * 159,776,238.28 7,460,900.00 1,019,450.00 166,217,688.28 : 147,422,051.94 7,460,900.00 1,019,450.00 153,863,501.94 8,832,182.37 8,832,182.37 3,522,003.97 3,522,003.97 ** 121,300.00 121,300.00 159,897,538.28 166,338,988.28 -- -- 35,013,971.13 35,013,971.13 124,883,567.15 131,325,017.15 * A. 123 0.148% 2,761,422.92 2,761,422.92 4.5 -- 60,581.05 60,581.05 ( ) 10 -- 700,000.00 700,000.00 686,900.00 3,522,003.97 3,522,003.97 686,900.00 B. 30

2005 % 4,187,500.00 3,804,694.94 -- 7,992,194.94 31.60 7,078,539.00 1,431,794.01 -- 8,510,333.01 35.84 302,368.57 -- -- -- 302,368.57 7.00 6,500,000.00 -- -- (215,031.48) -- 6,284,968.52 38.83 *1 9,898,382.78 -- -- -- -- 9,898,382.78 32.94 *1 14,527,044.85 -- -- -- -- 14,527,044.85 25.00 500,000.00 -- -- -- -- 500,000.00 25.00 17,849.20 -- -- -- -- 17,849.20 49.00 3,359,743.02 -- -- -- -- 3,359,743.02 30.00 *1 253,000.00 -- -- -- -- 253,000.00 40.00 *1 400,000.00 -- -- -- -- 400,000.00 35.00 453,440.00 -- -- -- -- 453,440.00 15.00 *1 1,320,000.00 -- -- -- -- 1,320,000.00 25.00 162,000.00 -- -- -- -- 162,000.00 6.25 200,001.10 -- -- -- -- 200,001.10 -- 600,000.00 -- -- -- -- 600,000.00 11.10 11,710,000.00 -- -- -- 11,710,000.00 14.73 6,700,000.00 -- -- -- -- 6,700,000.00 100 2,250,000.00 -- -- -- -- 2,250,000.00 49.00 600,000.00 -- -- -- -- 600,000.00 6.25 281,481.81 -- -- -- -- 281,481.81 5.50 *2 11,963,636.02 -- -- (11,963,636.02) -- -- 100 17,354,713.32 -- 6,900.00 (1,739,850.43) -- 15,614,862.89 30.00 *3 2,400,000.00 -- (245,000.00) 6,399,424.39 -- 8,799,424.39 50.00 10,176,617.20 -- -- -- -- 10,176,617.20 5.30 7,256,401.38 -- -- (2,504,779.76) -- 4,751,621.62 40.00 4,000,000.00 -- -- -- -- 4,000,000.00 12.50 6,900,000.00 -- -- (5,089,459.30) -- 1,810,540.70 36.55 1,000,000.00 -- -- 842,336.13 -- 1,842,336.13 50.00 3,466,000.00 -- -- (1,510,000.00) -- 1,956,000.00 80.00 3,150,000.00 -- -- 75,000.00 -- 3,225,000.00 45.00 825,000.00 -- -- -- -- 825,000.00 7.00 640,000.00 -- -- -- -- 640,000.00 -- 800,000.00 (276,000.00)- (276,000.00)- -- 524,000.00 40.00 9,000,000.00 (378,450.00)( (378,450.00) -- 8,621,5500.00 90.00 200,000.00 (120,000.00) -- 80,00.00 10.00 4,000,000.00 -- -- -- 4,000,000.00 90.00 *4 7,000,000.00 7,000,000.00 35.00 454,000.00 454,000.00 10.00 31

2005 156,587,257.25 7,334,000.00 (892,550.00) (11,123,957.52) -- 150,643,760.73 *1 *2 *3 *4 3 1,543,926.67 10 463,177.98 (1,452,996.53) 10 (956,556.06) 16,118,334.60 10 10,611,236.94 3,757,453.32 10 2,473,656.77 (1,794,856.76) 10 (1,181,614.02) 2,318,734.13 10 2,240,859.48 429,731.33 10 282,906.46 (2,688,205.66) 10 (1,881,743,97) 24,270,365.73 12,051,923.58 4 2004.12.31 2005.6.30 500,000.00 -- -- -- 500,000.00 3,359,743.02 -- -- -- 3,359,743.02 82,000.00 -- -- -- 82,000.00 295,056.53 -- -- -- 295,056.53 *1 453,440.00 -- 453,440.00 1,320,000.00 -- -- -- 1,320,000.00 162,000.00 -- -- -- 162,000.00 200,001.10 -- -- -- 200,001.10 92,000.00 -- -- -- 92,000.00 6,700,000.00 -- -- -- 6,700,000.00 2,250,000.00 -- -- -- 2,250,000.00 600,000.00 -- -- -- 600,000.00 4,648,000.00 -- -- 4,648,000.00 4,000,000.00 -- -- 4,000,000.00 1,800,000.00 -- -- 1,800,000.00 1,218,830.48 -- -- 1,218,830.48 1,956,000.00 -- -- 1,956,000.00 3,225,000.00 -- -- 3,225,000.00 825,000.00 -- -- 825,000.00 32

2005 640,000.00 -- -- 640,000.00 ( ) *2 686,900.00 686,900.00 35,013,971.13 35,013,971.13 *1 2004 12 15 *2 21,300.00 -- 21,300.00 100,000.00 -- 100,000.00 121,300.00 -- 121,300.00.8 489,136,111.00 1,040,739.25 -- 490,176,850.25 23,368,777.45 7,200.00 420,526.60 22,955,450.85 16,253,192.49 108,000.00 630,365.90 15,730,826.59 9,032,734.97 156,530.00 -- 9,189,264.97 11,575,550.34 658,485.44 12,800.00 12,221,235.78 6,010,873.20 193,755.72 -- 6,204,628.92 555,377,239.45 2,164,710.41 1,063,692.50 556,478,257.36 119,105,406.52 7,450,522.20 25,042.68 126,530,886.04 15,728,721.96 569,711.50 306,357.91 15,992,075.55 11,467,878.24 606,943.61 -- 12,074,821.85 6,083,696.14 332,091.27 -- 6,415,787.41 7,824,208.47 685,352.78 12,300.00 8,497,261.25 1,110,395.15 174,149.33 -- 1,284,544.48 161,320,306.48 9,818,770.69 343,700.59 170,795,376.58 385,682,880.78 * 4,231,301,32 33

2005 381,451,579.46 * 3,577,414.70 3,577,414.70 650,147.31 650,147.31 3,739.31 3,739.31 4,231,301.32 4,231,301.32.9 156,439.00 173,181.02 -- -- 329,620.02 1,204,760.72 1,330,518.00 -- -- 2,535,278.72 271,038.32 -- -- 271,038.32 1,361,199.72 1,774,737.74 -- -- 3,135,937.06 1,361,199.72 1,774,737.74 -- -- 3,135,937.06.10 ( ) 1,699,998.80 1,322,316.61 -- -- 377,682.19 1,322,316.61 34 36,643.46 2,942,94 -- -- 33,700.52 2,942,94 1 1,736,642.26 1,325,259.55 -- -- 411,382.71 1,325,259.55 : -- -- -- -- 1,325,259.55 1,325,259.55.11 ( ) 21,874,174.09 3,023,363.54 70,036.02 821,735.26 19,602,509.79 2,271,664.30 4-5 2,498,345.62 692,606.21 140,406.50 200,219.94 1,865,552.85 632,792.77 1-2 481,412.00 354,716.66 116,412.00 109,236.44 119,519.78 361,892.22 5 5,181,242.20 -- 5181242.20 225,767.25 225,767.25 4,955,474.95 5 501,793.12 406,221.09 122,996.72 70,860.88 70,860.88 458,356.93 5 34

2005 4,476,907.50 5631093.44 1427819.77 21,893,795.83 8,680,181.17.12 2004.12.31 2005.06.30 0.5600% 17,244,160.00 17,244,160.00 17,244,160.00 17,244,160.00 0.4425%-0.6342% 129,080,000.00 129,080,000.00 112,110,000.00 112,110,000.00 0.4200%-0.6300% 158,246,000.00 158,246,000.00 158,246,000.00 158,246,000.00 0.4000%-0.7000% 31,184,170.20 33,232,970.41 31,084,170.20 33,126,970.41 6,000,000.00 49,659,000.00 6,000,000.00 49,659,000.00 387,462,130.41 370,386,130.41 2004.12.31 2005.06.30 207,132,170.41 190,056,170.41 163,085,800.00 163,085,800.00 17,244,160.00 17,244,160.00 387,462,130.41 370,386,130.41 163,085,800.00 11,511,612.26 2000 4 19 2000 4 1 [2000]1086.13 2004.12.31 2005.6.30 100,174,500.00 161,369,624.00 35

2005.14 5% 5%.15 5% 5%.16.17 2004.12.31 2005.6.30 5%,3% (446,320.55) (279,965.83) 1% 19,411.14 9547.08 15% 5,804,928.55 3,464,443.86 1.2% 3,558,936.34 4,170,561.77 17% (8,938,991.10) (4,809,359.86) 65,484.51 545,719.80 63,448.89 3,101,046.82.18 5% 5%.19 2004.12.31 2005.6.30 3% 162,046.47 130,684.41 6,495,729.09 6,495,729.09 6,657,775.56 6,626,413.50.20 2004.12.31 2005.6.30 4,551,761.15 4,420,058.97 2,818,832.00 2,997,812.00 650,749.71 (82,534.29) 864,408.52 854,225.82 852,296.90 852,296.90 350,000.00 50,000.00 753,748.95 1,235,479.13 895,794.16 595,794.16 36

2005 244,892.71 238,691.80 629,659.60 11,982,484.10 11,791,484.09.21 2004.12.31 2005.6.30 25,088,400.00 25,088,400.00 25,008,400.00 25,008,400.00.22 2004.12.31 2005.6.30 2,003,888.26 1,970,888.26 2,588,848.40 2,588,848.40 2,020,000.00 1,320,000.00 6,612,736.66 5,879,736.66.23 5,632,598.65 4,327,749.24 5,632,598.65 4,327,749.24 130.48.24 159,596,550.00 -- -- -- -- -- -- 159,596,550.00 1. 159,588,000.00 -- -- -- -- -- -- 159,588,000.00 159,588,000.00 -- -- -- -- -- -- 159,588,000.00 2. 8,550.00 -- -- -- -- -- -- 8,550.00 60,685,050.00 -- -- -- -- -- -- 60,685,050.00 1. 34,285,050.00 -- -- -- -- -- -- 34,285,050.00 37

2005 2. 26,400,000.00 -- -- -- -- -- -- 26,400,000.00 220,281,600.00 220,281,600.00.25 2004.12.31 2005.6.30 166,646,999.40 -- 166,646,999.40 2,891,013.13 -- 2,891,013.13 2,370,502.58 -- 2,370,502.58 1,900,855.46 -- 1,900,855.46 173,809,370.57 -- 173,809,370.57 [2001]64.26. 2004.12.31 2005.6.30 15,277,750.90 15,277,750.90 3,210,576.83 3,210,576.83 35,807,370.72 35,807,370.72 54,295,698.45 54,295,698.45.27 2005 1-6 409,587.98 (231,927,943.55) 342,849.92 (231,175,505.65).28. (181,907.61) -- -- (181,907.61).29 (RMB) (RMB) (RMB) 35,922,967.53 41,361,214.30 27,395,393.57 31,861,321.18 8,527,573.96 9,499,893.12 444,830,383.36 574,562,911.08 424,747,041.71 552,599,369.04 20,083,341.65 21,963,542.04 38

2005 31,879,703.25 24,414,420.50 13,175,039.47 7,555,157.23 18,704,663.78 16,859,263.27 18,019,634.48 16,827,899.06 10,131,851.53 9,649,714.99 7,887,782.95 7,178,184.07 530,652,688.62 657,166,444.94 475,449,326.28 601,665,562.44 55,203,362.34 55,500,882.50 12,652, 19.3% 83.83% 2005 1-6 2005 1-6 38,032.06 2005 1-6 8,838.21 3%.30 2005 1-6 2004 1-6 5% 2,667,709.50 2,517,903.08 1% 110,171.83 101,968.18 3% 230,507.55 200,288.60 2,633.63 3,011,022.51 2,820,159.86.31 (RMB) (RMB) (RMB) 2005 1-6 2004 1-6 2005 1-6 2004 1-6 2005 1-6 2004 1-6 4,157,619.97 3,674,405.23 2,944,185.69 2,552,164.87 1,213,434.28 1,122,240.36 2,037,503.00 1,252,355.81 2,101,965.09 1,678,001.53 (64,462.09) (425,645.72) 1,270,916.34 1,932,224.34 758,079.10 1,502,060.46 512,837.24 430,163.88 7,466,039.31 6,858,985.38 5,804,229.88 5,732,226.86 1,661,809.43 1,126,758.52.32 2005 1-6 2004 1-6 5,484,291.06 7,866,455.40 1,889,523.38 1,613,290.29 0.74 18,427.30 -- -- 184,999.99 226,513.37 39

2005 3,779,768.41 6,498,105.78.33 2005 1-6 2004 1-6 ----- (514,100.00) 899,000.00 ----- -- ----- 5,982.90 4,169.90 ----- 37,750.00 (508,117.10) 940,919.90.34 2005 1-6 2004 1-6 13,514.06 61,996.18 166,302.14 60,000.00 74,530.70 192,639.16 302,518.63 446,986.06 424,514.81.35 2005 1-6 2004 1-6 33,506.32 64,571.22 299.96 1,241,098.50 31,965.60 43,747.70 255,186.93 227,331.03 48,892.24-43,748.76 1,880,827.62 22,023.12 1 2004.12.31 2005.6.30 % % 1 -- -- -- -- -- -- 1-2 -- -- -- -- -- -- 40

2005 2-3 -- -- -- -- -- -- 3 484,803.08 100 242,401.54 484,803.08 100 242,401.54 484,803.08 100 242,401.54 484,803.08 100 242,401.54 2 2004.12.31 2005.6.30 % % 1 24,027,581.14 11.39 178,305.64 18,066,637.22 8.81 178,305.64 1-2 5,547,137.69 2.63 93,530.13 5,547,137.69 2.71 93,530.13 2-3 3,578,574.16 1.70 70,989.76 3,578,574.16 1.75 70,989.76 3 177,837,552.22 84.28 5,695,906.28 177,837,552.22 86.73 5,695,906.28 210,990,845.21 100 6,038,731.81 205,029,901.29 100 6,038,731.81 3 * 381,519,549.92 20,577,600.00 4,240,400.00 397,856,749.92 321,942,062.59 13,570,700.00 3,719,400.00 331,793,362.59 56,055,483.36 7,006,900.00 521,000.00 62,541,383.36 3,522,003.97 3,522,003.97 17,780,900.00 17,780,900.00 363,738,649.92 380,075,849.92 123 0.148% 2,761,422.92 2,761,422.92 -- 4.5 -- 60,581.05 60,581.05 -- ( ) 10 -- 700,000.00 700,000.00 686,900.00 3,522,003.97 3,522,003.97 686,900.00 31,152,888.87 57,000.00 (13,609,600.26) 17,543,288.61 -- 11,963,636.02 -- (11,963,636.02) -- -- 57,672,885.22 (1,175,400.00) 29,972,605.72 87,398,529.01 -- 5,021,970.88 (396,000.00) 2,033,130.72 7,055,101.60 -- 10,708,622.90 304,300.00 3,773,326.79 14,481,949.69 -- 126,251,071.57 2,850,000.00 35,005,465.40 161,256,536.97 -- 17,354,713.32 6,900.00 (1,739,850.43) 15,614,862.89 -- 41

2005 19,224,692.65 12,000.00 746,659.82 19,971,352.47 -- 8,657,700.00 (148,000.00) (148,000.00) 8,756,661.93 -- 2,000,000.00 53,700.00 163,140.80 2,163,140.80 -- 281,481.81 -- -- 281,481.81 -- 2,400,000.00 (245,000.00) 6,399,424.39 8,799,424.39 -- 10,176,617.20 -- -- 10,176,617.20 -- 7,256,401.38 -- (2,504,779.76) 4,751,621.62 4,648,000.00 800,000.00 (276,000.00) (276,000.00) 524,000.00 -- 4,000,000.00 -- -- 4,000,000.00 4,000,000.00 6,900,000.00 -- (5,089,459.29) 1,810,540.70 1,800,000.00 3,466,000.00 -- (1,510,000.00) 1,956,000.00 1,956,000.00 3,150,000.00 -- 75,000.00 3,225,000.00 3,225,000.00 1,807,411.52 636,000.00 2,886,323.13 4,693,734.65 -- ( )825,000.00 -- -- 825,000.00 825,000.00 640,000.00 -- -- 640,000.00 640,000.00 7,000,000.00 7,000,000.00 338,711,093.34 1,679,500.00 44,213,751.00 382,924,844.34 17,094,000.00 1,543,926.67 10 463,177.98 (1,452,996.53) 10 (956,556.06) 16,118,334.60 10 10,611,236.94 3,757,453.32 10 2,473,656.77 (1,794,856.76) 10 (1,181,614.02) 24,210,105.93 11,409,901.61 4 2005 1-6 2004 1-6 ----- 4,193,600.00 5,387,200.00 ----- -- -- 42

2005 ----- 5,982.90 4,169.90 ----- 5,982.90-1,000.00 ----- 37,750.00 ----- 3,685,482.90 5,428,119.90 1 ( ) ( ). 2 10,485 3 % % % % ( ) 159,588,000.00 72.45 -- -- -- 159,588,000.00 72.45 32,900,000.00 100 -- -- -- -- 32,900,000.00 100 7,050,000.00 100 -- -- -- -- 7,050,000.00 100 31,150,000.00 100 -- -- -- -- 31,150,000.00 100 7,250,000.00 100 -- -- -- -- 7,250,000.00 100 58,960,000.00 100 -- -- -- -- 58,960,000.00 100 USD5,000,000.00 60 -- -- -- -- USD5,000,000.00 60 2,000,000.00 60 -- -- - -- 2,000,000.00 60 2,000,000.00 100 -- -- - -- 2,000,000.00 100 43

2005 4 ( ) 1 2005 6 30 3600 2 2005 6 30 5,786 44

2005 (%) 2004.12.31 2005.6.30 2004.12.31 2005.6.30 ( ) 148,463,360.95 148,467,518.95 59.32 61.95 22,713,671.13 23,177,059.10 9.08 9.67 1,273,461.58 1,311,378.24 0.51 0.55 4,943,968.18 5,148,977.37 1.98 2.15 554,973.30 554,973.30 0.22 0.23 518,440.00 518,440.00 0.21 0.22 ( ) 359,976.57 372,748.17 0.14 0.16 255,525.65 266,525.65 0.10 0.11 1,200,000.00 1,200,000.00 0.48 0.50 708,072.26 708,072.26 0.28 0.30 454,082.95 454,082.95 0.18 0.19 181,445,532.57 182,179,775.99 72.50 76.65 5,000,000.00 4,800,000.00 8.67 7.84 ( ) 7,744,160.00 7,744,160.00 2.00 2.09 6,000,000.00 6,000,000.00 1.55 1.62 13,744,160.00 13,744,160.00 3.55 3.71 6,054,855.46 6,054,855.46 13.90 16.48 7,921,985.24 872,046.55 16.82 1.73 ( ) 45,516,091.03 45,516,091.03 29.65 35.05 2,422,554.01 2,422,554.01 1.58 1.87 1,095,742.50 1,095,742.50 0.71 0.84 515,000.00 710,000.00 0.34 0.55 4,693,689.41 4,693,689.41 3.06 3.61 9,990,000.00 4,880,681.20 6.51 5.30 330,632.49 367,932.49 0.22 0.28 2,545,845.05 2,545,845.05 1.66 1.96 67,109,554.49 62,232,535.69 43.73 47.92 2004 12 31 21 RMB8,000,000.00 2005.3.25-2006.3.25 RMB10,000,000.00 2005.6.28-2006.6.28 45

2005 RMB18,000,000.00 2004.9.16-2005.9.16 46