2 4 7 17 24 25 27 28 29 1

Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 88 35 81 16 617000 168 200 37 3702 Butterfield Fund Services (Cayman) Limited Butterfield House 68 Fort Street P.O. Box 705 Grand Cayman KY1-1107 Cayman Islands 2

183 17 1712-1716 15 13 1393 http://www.hidili.com.cn 981 47 10 129 3 33 3

2010 6 30 1,050.9716.92009 65.3% 112.5% EBITDA531.950.5% 1,127.01,448.4 811.21,152.638.9% 25.7% 27.0% 274,80077.3% 472,000 4

1,722,100 1,110,500 55.1%626,300 645,400 752,900 465,100 61.9% 342,900 156 20103 2010 2010 1517.078.8 2010 1 311 2010 4 2009 0.1 5

2010 7 9 30200,000 5 2010 6 30 12.7 5.3 1,850 Hidili Industry International Development Limited 2010 8 24 6

6 30 2010 2009 % 1,050,924 635,852 65.3% 716,863 337,271 112.5% 348,735 192,590 81.1% 301,630 177,933 69.5% EBITDA 531,897 243,559 118.4% 14.4 8.7 66.7% 14.2 1,050.9 2009 635.9 65.3% 2009 6 30 266,200 77.3% 472,000 2009 6 30 376,600 27.0% 274,800 7

2009811.21,152.6 1,127.0 1,448.4 38.9% 25.7% 2009 6 30 2010 2009 531,912 472.0 1,127.0 215,934 266.2 811.2 398,086 274.8 1,448.4 376,419 376.6 1,152.6 929,998 592,353 70,124 298.4 235.0 29,614 183.3 161.6 15,114 7.3 2,075.3 9,906 8.0 1,244.1 85,238 39,520 30,627 61.3 499.7 373 1.9 200.0 4,446 1.3 3,301.3 1,839 1.3 1,451.7 615 1,767 35,688 3,979 1,050,924 635,852 8

334.12009298.635.5 11.9% 135.42009163.5 28.117.2% (i)(ii) (iii) 2009 70 6 30 2010 2010 2010 2009 2009 2009 626 281 206 645 325 239 753 322 67 465 239 83 343 163 1,722 766 273 1,110 564 322 9

6 30 2010 2009 134 130 22 22 156 152 335 337 478 474 115.8200982.033.8 41.2% 40.2200932.67.6 23.3% 716.92009337.3 379.6112.5% 68.2% 2009 53.0% 10

17.720094.313.4 311.6%2009 2.84.9 A 11.7 123.6200959.564.1 107.7% 135.7200977.758.0 74.6% (i) 20098.9 21.5(ii) 42.0 200970.42009 12 318.9 11

200913.4 33.4 A 5.0 (2010 4 28.4 93.12009 25.367.8 268.0% (i) 2009 20094.3 43.5(ii)2010 1 46.5 14.8 47.1200914.732.4 220.4% 20097.8%10.5% 12

296.5 2009 179.3117.265.4% 28.7% 2009 28.0% EBITDAEBITDA EBITDAEBITDA50.6%2009 38.3%12.3% 6 30 2010 2009 301,630 177,933 93,134 25,262 47,105 14,657 56,657 39,124 EBITDA 498,526 256,976 33,371 (13,417) EBITDA 531,897 243,559 13

2010 1 1,707 2010 6 30 551.92009 12 311,089.2 2010 6 30 2,6751,678 2.04% 9% 2010 6 3021.2% 2010 6 30 1,498.52009 12 311,831.7 3,0252009 12 313,712.1 2010 6 30 15,488 2009 12 31 11,176 4,312 163.12009 117.0 14

0.560.60.9 2010 6 3027.8A 27.0 235 2010 6 30 15

(a) 0.6 8116 17 (b) 2008 7 14 10.457% 51% (c) 2009 9 500 49% 49%9% 51% 2010 6 30250 16

2010 6 30 571 XV352 1 1,044,131,000 50.69% * 1,000 100% 2 15,380,000 0.75% Able Accord Enterprises Limited Able Accord 1,000 100% 3 15,380,000 0.75% Pavlova Investment LimitedPavlova Investment 1,000 100% 17

1. 1,044,131,000 1,044,131,000 2. 15,380,000Able Accord Able Accord 15,380,000Able Accord Able Accord 3. 15,380,000Pavlova Investment Pavlova Investment 15,380,000Pavlova Investment Pavlova Investment 2010 6 30 XV 352 18

2010 6 30336 1 1,044,131,000 (L) 50.69% 1 1,044,131,000 (L) 50.69% 2 1,044,131,000 (L) 50.69% Templeton Asset Management Limited 140,916,000 (L) 6.84% JPMorgan Chase & Co. 3 18,007,045 (L) 0.87% 13,151,544 (S) 0.64% 21,313,000 (L) 1.03% 82,784,371 (L) 4.02% Schroder Investment Management Limited 104,151,000 (L) 5.05% (L) (S) 1. 1,044,131,000 2. 3. 451,5012,217,000 19

XV 3365% 2007 8 252009 4 30 43,200,000 17 2010 2010 1 1 6 30 40,000 40,000 2009 4 30 2010 5 1 2017 8 24 40,000 40,000 2009 4 30 2011 5 1 2017 8 24 20,000 20,000 2009 4 30 2012 5 1 2017 8 24 3.15 3.15 3.15 3.15 3.15 3.15 100,000 100,000 40,000 40,000 2009 4 30 2010 5 1 2017 8 24 40,000 40,000 2009 4 30 2011 5 1 2017 8 24 20,000 20,000 2009 4 30 2012 5 1 2017 8 24 3.15 3.15 3.15 3.15 3.15 3.15 100,000 100,000 20

2010 2010 1 1 6 30 200,000 200,000 17,128,000 17,128,000 2009 4 30 2010 5 1 3.15 3.15 2017 8 24 17,128,000 17,128,000 2009 4 30 2011 5 1 3.15 3.15 2017 8 24 8,564,000 8,564,000 2009 4 30 2012 5 1 3.15 3.15 2017 8 24 42,820,000 42,820,000 32,000 32,000 2009 4 30 2010 5 1 3.15 3.15 2017 8 24 32,000 32,000 2009 4 30 2011 5 1 3.15 3.15 2017 8 24 16,000 16,000 2009 4 30 2012 5 1 3.15 3.15 2017 8 24 80,000 80,000 43,100,000 43,100,000 21

3.21 2007 8 25 A.2.1 22

2010 8 24 23

2010 6 30 6 30 2010 2009 4 1,050,924 635,852 (334,061) (298,581) 716,863 337,271 5 17,651 4,347 (123,603) (59,491) (135,671) (77,692) (33,371) 13,417 6 (93,134) (25,262) 7 348,735 192,590 8 (47,105) (14,657) 301,630 177,933 296,542 179,312 5,088 (1,379) 301,630 177,933 10 14.4 8.7 14.2 24

2010 2009 6 30 12 31 11 8,894,455 7,968,805 30,724 31,062 291,832 219,950 25,514 25,274 36,000 107,742 111,691 11,065 11,065 9,361,332 8,403,847 216,002 144,704 12(a) 940,506 516,366 12(b) 166,623 241,019 357,958 210,177 38,354 83,755 13 54,814 48,641 233,815 577,883 1,268,628 674,545 3,276,700 2,497,090 14 238,014 131,875 166,623 241,019 487,674 698,389 15,845 599 138,052 47,952 15 1,678,000 2,467,084 2,724,807 3,586,319 25

2010 2009 6 30 12 31 551,893 (1,089,229) 9,913,225 7,314,618 198,605 198,605 6,597,961 6,079,391 6,796,566 6,277,996 160,750 145,087 6,957,316 6,423,083 10,166 9,329 247,150 244,682 232,860 142,524 15 997,000 495,000 16 1,468,733 2,955,909 891,535 9,913,225 7,314,618 26

2010 6 30 2009 1 1 198,605 3,310,400 695,492 99,213 269,598 1,265,487 5,838,795 35,759 5,874,554 179,312 179,312 (1,379) 177,933 11,660 (11,660) 8,927 8,927 8,927 10,158 10,158 2009 6 30 198,605 3,310,400 695,492 110,873 269,598 8,927 1,433,139 6,027,034 44,538 6,071,572 224,197 224,197 (151) 224,046 41,138 46,371 (87,509) 26,765 26,765 26,765 45,197 45,197 67,503 67,503 (12,000) (12,000) 2009 12 31 198,605 3,310,400 695,492 152,011 315,969 35,692 1,569,827 6,277,996 145,087 6,423,083 296,542 296,542 5,088 301,630 8,818 (8,818) 21,466 21,466 21,466 12,173 12,173 (41,846) (41,846) (1,598) (43,444) 242,408 242,408 242,408 2010 6 30 198,605 3,310,400 695,492 160,829 315,969 57,158 242,408 (41,846) 1,857,551 6,796,566 160,750 6,957,316 27

2010 6 30 6 30 2010 2009 (48,987) 278,009 (960,051) (326,001) 344,068 (610,035) (72,122) (254,120) (6,000) (6,200) 5,753 (688,352) (1,196,356) 1,740,000 1,110,000 (2,037,084) (10,000) (64,180) (25,262) 12,173 10,158 1,680,513 1,331,422 1,084,896 594,083 166,549 674,545 694,820 1,268,628 861,369 1,268,628 861,369 28

2010 6 30 1. 2006 9 1 22 (1961 3 Sanlian Investment Holding Limited * 2. 3. 2009 12 31 29

2010 6 30 3. 2010 1 1 30

2010 6 30 3. 272008 272008 2010 1 1 272008 272008 272008 2010 1 24 2 32 3 1 7 4 9 5 2 14 4 19 31

2010 6 30 3. 272008 1 2010 7 12011 1 1 2 2011 1 1 3 2010 2 1 4 2010 7 1 5 2013 1 1 9 2013 1 1 39 (i) (ii) 9 4. (i)(ii) (iii) 32

2010 6 30 4. 2010 6 30 632,663 413,200 5,061 1,050,924 1,050,924 292,166 292,166 (292,166) 924,829 413,200 5,061 1,343,090 (292,166) 1,050,924 355,622 235,582 2,056 593,260 593,260 46% 17,651 (135,671) (33,371) (93,134) 348,735 33

2010 6 30 4. 2009 6 30 245,921 386,325 3,606 635,852 635,852 272,393 272,393 (272,393) 518,314 386,325 3,606 908,245 (272,393) 635,852 94,210 182,760 810 277,780 277,780 35% 4,347 (77,692) 13,417 (25,262) 192,590 34

2010 6 30 4. 5. 6 30 2010 2009 4,916 2,818 11,652 1,083 1,529 17,651 4,347 6. 6 30 2010 2009 5 43,457 4,297 17,966 20,965 46,473 107,896 25,262 (14,762) 93,134 25,262 35

2010 6 30 7. 6 30 2010 2009 3,949 1,899 338 337 837 615 52,370 36,888 8. 6 30 2010 2009 47,105 14,657 2008 1 1 25% 36

2010 6 30 8. 25% 2009 6 30 25% 20072008 20092011 201012.5% 2009 6 30 12.5% 20107.5% 2009 6 30 7.5% 20052009 201025% 2009 6 30 12.5% 2007 7 4 20082009 20102012201012.5% 2009 6 30 37

2010 6 30 9. 20102009 6 30 10. 6 30 2010 2009 2009 6 30 296,542 179,312 6 30 2010 2009 2,060,000 2,060,000 22,834 2,082,834 2010 6 30 38

2010 6 30 11. 976.3 12. (a) 2010 6 30 2009 12 31 520,263 397,047 (8,838) (8,838) 511,425 388,209 429,081 128,157 940,506 516,366 39

12. 2010 6 30 (a) 90 120 90 180 2010 6 30 2009 12 31 0 90 796,994 482,559 91 120 64,011 14,560 121 180 64,813 14,337 181 365 10,459 4,910 365 4,229 940,506 516,366 40

2010 6 30 12. (b) 90 180 2010 6 30 2009 12 31 0 90 146,623 162,749 91 120 20,000 78,270 166,623 241,019 13. 2010 6 30 2009 12 31 27,977 48,641 26,837 54,814 48,641 41

2010 6 30 14. 2010 6 30 2009 12 31 0 90 139,771 116,640 91 180 82,097 13,499 181 365 6,874 1,736 365 9,272 238,014 131,875 15. 2010 6 30 2009 12 31 1,678,000 2,467,084 511,000 255,000 486,000 240,000 2,675,000 2,962,084 5.0% 9.72% 42

2010 6 30 16. 2010 1 191 6.825 1,7070.1 1.5 1,7072015 1 19 12.58 1 0.88031.5% 2013 1 19106.2687% 2010 6 30 2015 1 19 110.8254% 7.51% 2010 6 30 2010 6 30 2009 12 31 1,422,260 46,473 1,468,733 43

2010 6 30 17. 2007 8 25 2017 8 24 2010 6 3043,100,000 2.09% 2010 1 1 2010 6 30 2009 4 30 2009 4 30 2009 4 30 2010 4 30 2017 8 24 2011 4 30 2017 8 24 2012 4 30 2017 8 24 3.15 80,000 80,000 3.15 80,000 80,000 3.15 40,000 40,000 200,000 200,000 2010 1 1 2010 6 30 2009 4 30 2009 4 30 2009 4 30 2010 4 30 2017 8 24 2011 4 30 2017 8 24 2012 4 30 2017 8 24 3.15 17,128,000 17,128,000 3.15 17,128,000 17,128,000 3.15 8,564,000 8,564,000 42,820,000 42,820,000 44

2010 6 30 17. 2010 1 1 2010 6 30 2009 4 30 2009 4 30 2009 4 30 2010 4 30 2017 8 24 2011 4 30 2017 8 24 2012 4 30 2017 8 24 3.15 32,000 32,000 3.15 32,000 32,000 3.15 16,000 16,000 80,000 80,000 2009 4 30 2010 4 302011 4 30 2012 4 30 35.48231.24537.6 33.11119.41417.096 2009 4 30 2009 4 30 2009 4 30 2010 4 30 2011 4 30 2012 4 30 3.15 3.15 3.15 3.15 3.15 3.15 8.32 8.32 8.32 110.57% 110.57% 110.57% 2.004% 2.004% 2.004% 45

2010 6 30 17. 2010 6 30 21,466,000 2009 12 31 35,692,000 18. 2010 6 30 2009 12 31 278,898 256,956 19. 2010 6 301,498.52009 12 311,918.2 3,0252009 12 313,712.1 46

2010 6 30 20. (a) 6 306 2010 2009 600 600 9,539 7,457 868 2,383 (b) 2010 6 30 2009 12 31 i 7,159 68,559 ii 2,412 14,929 iii 28,442 iv 341 267 38,354 83,755 v 599 47

2010 6 30 20. (b) (i) 37% (ii) 37% (iii) 57% 51% (iv) (v) (c) 6 306 2010 2009 1,043 1,048 24 53 3,675 274 4,742 1,375 48