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CONTENTS 1 2 3 5 7 9 10 15 16 19 65

twb@san-huan.com.cn 7 Annual Report 2009 1

1 2009 2008 2007 1,566,176,836.34 2,079,430,260.00-24.68% 2,074,188,986.54 108,892,163.33 163,984,818.22-33.60% 242,901,858.54 73,557,217.71 97,850,934.38-24.83% 164,006,837.81 61,276,223.64 88,518,018.88-30.78% 150,241,977.80 221,719,702.75 413,380,611.96-46.36% 97,542,212.38 2009 2008 2007 2,418,040,829.56 2,468,433,967.00-2.04% 2,466,691,063.54 1,244,096,010.64 1,198,436,746.53 3.81% 1,129,277,449.99 507,600,000.00 507,600,000.00 0.00% 507,600,000.00 2 2009 2008 2007 / 0.14 0.19-26.32% 0.32 / 0.14 0.19-26.32% 0.32 / 0.12 0.17-29.41% 0.30 % 6.02% 8.47% -2.45% 15.39% % 5.01% 7.66% -2.65% 14.10% / 0.44 0.81-45.68% 0.19 2009 2008 2007 / 2.45 2.36 3.81% 2.22 : 2009 2,312,435.60 17,995,784.59 244,888.89-3,647,415.07-3,382,000.96-1,242,698.98 12,280,994.07 3 2009 2008 2009 2008 2009 2008 6.02% 8.47% 0.14 0.19 0.14 0.19 5.01% 7.66% 0.12 0.17 0.12 0.17 2 Annual Report 2009

123,426,636 123,426,636 TRIDUS INTERNATIONAL INC 28,621,226 28,621,226 26,399,792 26,399,792 TAIGENE METAL COMPANY L.L.C 22,071,005 22,071,005 15,375,364 15,375,364 1,401,977 1,401,977 217,296,000 217,296,000 54,091 10 24.32% 123426636 123,426,636 0 5.64% 28621226 28,621,226 0 5.20% 26399792 26,399,792 0 4.35% 22071005 22,071,005 0 3.03% 15375364 15,375,364 0 0.99% 5050544 0 0.89% 4503229 0 0.79% 4000000 0 0.69% 3483598 0 0.59% 3017600 0 10 5050544 4503229 4000000 3483598 3017600 2540000 2177458 2000000 1688070 1209599 1 2 3 Annual Report 2009 3

2 1 1985 8 1 1658 2 1993 6 8 3 2002 4 12 411422 4 100 35 100 24.32 4 Annual Report 2009

67 2008.4-2011.4 0 0 73.00 45 2008.4-2011.4 0 0 0.00 68 2008.4-2011.4 0 0 0.00 81 2008.4-2011.4 0 0 0.00 43 2008.4-2011.4 0 0 0.00 56 2008.4-2011.4 0 0 0.00 69 2008.4-2011.4 0 0 6.00 46 2008.4-2011.4 0 0 6.00 48 2008.4-2011.4 0 0 6.00 47 2008.4-2011.4 0 0 58.00 67 2008.4-2011.4 0 0 0.00 46 2008.4-2011.4 0 0 57.00 34 2008.4-2011.4 0 0 0.00 69 2008.4-2011.4 0 0 73.00 68 2008.4-2011.4 0 0 69.00 52 2008.4-2011.4 0 0 60.00 55 2008.4-2011.4 0 0 59.00 47 2008.4-2011.4 0 0 58.00 47 2008.4-2011.4 0 0 67.00 2 2003.7 TRIDUS INTERNATIONAL INC 1984.4 TAIGENE METAL COMPANY L.L.C 1987.6 2003.1 2001.5 1999.6 2006 863 1985 HANG UP MOONTRIDUS INTERNATIONAL INC TAIGENE METAL COMPANY L.L.C Annual Report 2009 5

, 4 5 6 2009 12 31 3,894 225 5.778% 7 0.18% 2548 65.434% 27 0.693% 57 1.464% 138 3.544% 244 6.266% 76 1.952% 249 6.395% 73 1.875% 1454 37.339% 596 15.306% 1883 48.356% 211 5.418% 13 6 Annual Report 2009

1 2 3 4 5 6 1 5 3 2 0 0 5 2 2 1 0 5 1 2 2 0 5 1 2 2 0 5 3 2 0 0 5 3 2 0 0 5 3 2 0 0 5 3 2 0 0 5 3 2 0 0 2 Annual Report 2009 7

8 Annual Report 2009 1

Annual Report 2009 9

10 Annual Report 2009 2 3 2009 2009 1 (%) % % % 155,319.70 118,973.58 23.40% -24.59% -24.63% -0.33% 151,375.54 115,333.84 23.81% -24.42% -24.50% 0.08%

3,944.16 3,639.74 7.72% -30.60% -28.59% -2.60% 60,611.41-4.05% 94,708.30-33.68% 3 680,235,638.84 33.25% 577,604,942.36 36.88% 3 2009 2008 2009 2008 2,418,040,829.56 2,468,433,967.00 - - - 462,913,923.99 436,996,413.98 19.14% 17.70% 1.44% 351,112,591.11 423,465,480.05 14.52% 17.16% -2.64% 128,598,613.31 138,612,389.34 5.32% 5.62% -0.30% 736,633,795.57 671,779,433.64 30.46% 27.21% 3.25% 38,687,996.66 86,697,566.39 1.60% 3.51% -1.91% 500,763,758.69 574,552,050.00 20.71% 23.28% -2.57% 0.00 0.00 - - - 2009 2008 73,021,437.97 96,591,081.38-24.40% 124,909,575.93 147,263,611.83-15.18% 27,387,039.87 68,988,888.64-60.30% 22,415,033.44 25,097,820.42-10.69% 2009 2008 221,719,702.75 413,380,611.96-46.36% -60,491,361.01-130,457,494.16 53.63% -136,418,678.01-115,344,946.06-18.27% 5 1 2,150 75% 63,310.95 37,649.57 3,745.38 3,640.51 2 2,553.7 66% 53,398.39 35,656.98 883.58 905.47 3 9,019.61 51% 15,839.20 14,837.14 859.35 745.85 4 7,200 65% 9,772.11 5,673.18-683.18-459.55 5 2,500 98% 5,664.29 1,588.54-39.39-32.51 6 108,343.6 70% 29,262.18 26,243.74 160.02 520.45 7 3895 86% 6,735.10 3,944.16-340.35-279.25 1 Annual Report 2009 11

2008 2009 2010 2 2010 2010 2010 2010 HDD 3 4 2009 2010 2010 2010 2010 3,000 4,200 7,200 1,950 65% 2009 7 21 HDD VCMEPS 70 50 2009 30 2008 2009 6 2007 2009 2008 TOP100 1 12 Annual Report 2009

2009 2009 2 27 1 2009 3 26 2009 10 28 3 2009 2009 2009 2009 Annual Report 2009 13

200973,557,217.71 6,664,859.92 200966,892,357.7920091231507,600,000 100.4522,842,000 2008 27,918,000.00 97,850,934.38 29.82% 2007 46,191,600.00 164,006,837.81 28.16% 2006 40,608,000.00 141,463,179.07 28.71% 14 Annual Report 2009

TRIDUS INTERNATIONAL INC Annual Report 2009 15

16 Annual Report 2009 1

2009 12 31 23,400 26,775 21.52% Annual Report 2009 17

3,000 4,200 7,200 1,950 65% 2009 7 21 18 Annual Report 2009

Beijing JingDu Tiawha Certified Public Accountants Co.,Ltd. Annual Report 2009 19

1 504,923,677.74 163,440,530.57 469,139,884.08 213,864,085.90 2 1,209,634.31 1,200,000.00 1,100,000.00 4 462,913,923.99 216,179,054.67 436,996,413.98 216,138,898.20 6 55,956,217.20 2,978,417.02 58,323,831.03 1,324,404.52 3 3,469,735.50 1,377,000.00 8,357,552.23 5 4,531,362.56 23,729,299.75 8,221,042.41 27,290,179.81 7 351,112,591.11 60,774,052.76 423,465,480.05 65,254,631.65 8 32,484,307.32 32,484,307.32 61,966,836.36 42,966,836.36 1,413,131,714.23 503,055,397.59 1,460,690,487.91 576,296,588.67 10 128,598,613.31 686,571,064.68 138,612,389.34 676,898,276.18 11 489,750.00 24,349,279.06 516,750.00 25,273,543.23 12 736,633,795.57 39,590,584.92 671,779,433.64 42,066,197.64 13 38,687,996.66 616,000.00 86,697,566.39 668,000.00 14 65,561,165.57 20,396,176.24 69,954,122.47 20,886,272.92 15 30,124,298.70 35,526,946.26 21,975.26 85,115.27 16 4,791,520.26 1,452,037.94 4,571,155.72 3,194,831.97 1,004,909,115.33 772,975,142.84 1,007,743,479.09 768,987,121.94 2,418,040,829.56 1,276,030,540.43 2,468,433,967.00 1,345,283,710.61 20 Annual Report 2009

19 500,763,758.69 104,242,928.69 574,552,050.00 184,000,000.00 20 4,669,000.00 32,865,000.00 31,465,000.00 21 239,034,389.03 211,283,924.00 243,536,629.95 175,228,274.43 22 9,755,669.09 4,964,298.25 12,885,248.08 4,334,608.49 23 60,871,652.95 32,886,825.78 65,935,864.95 43,376,303.91 24-6,451,582.31-10,081,570.05-7,021,316.25-4,744,679.32 141,012.50 25 1,787,622.76 7,486,426.19 26 62,011,034.77 51,144,574.76 77,949,096.45 69,234,149.20 872,441,544.98 394,440,981.43 1,008,330,011.87 502,893,656.71 16 90,760.21 111,570.21 27 35,144,496.51 2,802,156.52 8,687,371.45 1,931,427.01 35,235,256.72 2,802,156.52 8,798,941.66 1,931,427.01 907,676,801.70 397,243,137.95 1,017,128,953.53 504,825,083.72 28 507,600,000.00 507,600,000.00 507,600,000.00 507,600,000.00 29 133,597,887.40 70,312,851.04 132,776,017.44 69,912,851.04 30 77,845,562.39 77,845,562.39 71,180,702.47 71,180,702.47 31 525,052,560.85 223,028,989.05 486,078,203.06 190,963,249.82 801,823.56 801,823.56 1,244,096,010.64 878,787,402.48 1,198,436,746.53 840,458,626.89 266,268,017.22 252,868,266.94 1,510,364,027.86 878,787,402.48 1,451,305,013.47 840,458,626.89 2,418,040,829.56 1,276,030,540.43 2,468,433,967.00 1,345,283,710.61 Annual Report 2009 21

32 1,566,176,836.34 691,768,347.16 2,079,430,260.00 940,452,919.13 32 1,200,048,666.33 556,228,303.45 1,594,926,715.48 791,834,387.56 33 2,995,841.29 1,338,066.18 3,462,781.87 1,488,120.52 73,021,437.97 21,700,035.65 96,591,081.38 22,639,928.82 124,909,575.93 28,824,526.05 147,263,611.83 38,107,133.63 34 27,387,039.87 7,148,452.69 68,988,888.64 28,687,009.67 35 37,608,333.67 29,860,824.44 16,659,634.51 17,215,767.30 36-7,974,583.07 26,336,623.26-2,514,584.38 48,402,343.83 92,231,358.21 73,004,761.96 149,022,961.91 88,882,915.46 37 23,219,682.53 1,776,487.36 18,750,025.61 3,121,872.99 38 6,558,877.41 600.00 3,788,169.30 1,031,000.00 1,732,428.70 600.00 576,851.93 108,892,163.33 74,780,649.32 163,984,818.22 90,973,788.45 39 22,415,033.44 8,132,050.17 25,097,820.42-118,728.53 86,477,129.89 66,648,599.15 138,886,997.80 91,092,516.98 73,557,217.71 66,648,599.15 97,850,934.38 91,092,516.98 12,919,912.18 41,036,063.42 40 0.14 0.19 41 145,223.01 340,000.00-172,894.54 86,622,352.90 66,988,599.15 138,714,103.26 91,092,516.98 73,532,070.15 97,678,039.84 13,090,282.75 41,036,063.42 22 Annual Report 2009

1,669,959,540.76 669,161,517.36 2,420,303,621.74 1,088,719,360.39 65,792,360.80 53,317,516.23 94,635,959.87 82,052,150.13 42 51,199,719.55 16,595,809.88 26,464,852.86 11,432,035.61 1,786,951,621.11 739,074,843.47 2,541,404,434.47 1,182,203,546.13 1,182,633,123.01 592,565,017.69 1,661,019,817.62 995,409,214.01 185,677,060.07 31,729,150.19 213,691,862.99 33,406,201.40 83,905,252.44 18,994,192.82 134,593,223.34 23,584,220.60 42 113,016,482.84 46,824,566.52 118,718,918.56 52,149,614.52 1,565,231,918.36 690,112,927.22 2,128,023,822.51 1,104,549,250.53 221,719,702.75 48,961,916.25 413,380,611.96 77,654,295.60 19,000,000.00 26,000,000.00 6,000,000.00 244,888.89 38,066,911.94 1,661,863.84 54,024,609.70 5,067,156.92 200,879.62 23,922,930.70 3,300.00 805,915.99 805,915.99 42 3,618,033.39 512,423.73 4,059,914.52 1,228,756.75 28,735,995.19 39,586,131.28 55,644,709.06 61,256,666.45 89,227,356.20 4,135,655.13 141,102,203.22 2,654,465.20 19,500,000.00 45,000,000.00 31,412,178.00 89,227,356.20 23,635,655.13 186,102,203.22 34,066,643.20-60,491,361.01 15,950,476.15-130,457,494.16 27,190,023.25 10,500,000.00 13,091,122.00 10,500,000.00 13,091,122.00 469,423,328.86 105,333,328.86 833,613,260.00 184,000,000.00 479,923,328.86 105,333,328.86 846,704,382.00 184,000,000.00 543,181,168.00 185,091,168.00 845,090,000.00 184,000,000.00 72,683,028.14 34,769,988.75 116,032,058.10 57,612,753.75 42 477,810.73 50,633.59 927,269.96 250,979.02 616,342,006.87 219,911,790.34 962,049,328.06 241,863,732.77-136,418,678.01-114,578,461.48-115,344,946.06-57,863,732.77-1,618,100.69-757,486.25-3,580,534.69-1,811,400.95 23,191,563.04-50,423,555.33 163,997,637.05 45,169,185.13 443,373,137.72 213,864,085.90 279,375,500.67 168,694,900.77 466,564,700.76 163,440,530.57 443,373,137.72 213,864,085.90 Annual Report 2009 23

86,477,129.89 138,886,997.80 138,886,997.80 91,092,516.98 37,608,333.67 16,659,634.51 16,659,634.51 17,215,767.30 79,867,006.19 77,269,280.81 77,269,280.81 6,212,207.96 4,392,956.90 4,877,428.95 4,877,428.95 489,736.68 63,140.01 89,271.56 89,271.56 - -2,312,435.60 1,671,143.85 1,671,143.85-3,300.00 - - - - - - - - 27,387,039.87 43,861,934.94 43,861,934.94 12,398,624.60 7,974,583.07 2,514,584.38 2,514,584.38-48,402,343.83-220,364.54-1,761,609.72-1,761,609.72-2,868,947.69-20,810.00-20,810.00-20,810.00-87,635,990.54 95,870,621.80 95,870,621.80 4,210,517.99-28,246,052.27 137,545,508.11 137,545,508.11 133,964,127.18-66,294,584.36-98,307,517.52-98,307,517.52-136,654,611.57-12,592,230.62-5,775,857.51-5,775,857.51-221,719,702.75 413,380,611.96 413,380,611.96 77,654,295.60 - - - - - - - - - - - - 466,564,700.76 443,373,137.72 443,373,137.72 213,864,085.90 443,373,137.72 279,375,500.67 279,375,500.67 168,694,900.77 - - - - - - - - 23,191,563.04 163,997,637.05 163,997,637.05 45,169,185.13 24 Annual Report 2009

2009 507,600,000.00 132,776,017.44 71,180,702.47 486,078,203.06 801,823.56 252,868,266.94 1,451,305,013.47 507,600,000.00 132,776,017.44 71,180,702.47 486,078,203.06 801,823.56 252,868,266.94 1,451,305,013.47-821,869.96 6,664,859.92 38,974,357.79-801,823.56 13,399,750.28 59,059,014.39 73,557,217.71 12,919,912.18 86,477,129.89 821,869.96-801,823.56 227,160.75 247,207.15 821,869.96 73,557,217.71-801,823.56 13,147,072.93 86,724,337.04 10,500,000.00 10,500,000.00 1 10,500,000.00 10,500,000.00 2 3 6,664,859.92-34,582,859.92-10,247,322.65-38,165,322.65 1 6,664,859.92-6,664,859.92 2. -27,918,000.00-10,247,322.65-38,165,322.65 3 1 2 3 1. 2. 4 507,600,000.00 133,597,887.40 77,845,562.39 525,052,560.85 266,268,017.22 1,510,364,027.86 Annual Report 2009 25

2008 507,600,000.00 115,072,649.94 62,071,450.77 443,528,120.38 1,005,228.90 248,123,092.47 1,377,400,542.46 507,600,000.00 115,072,649.94 62,071,450.77 443,528,120.38 1,005,228.90 248,123,092.47 1,377,400,542.46 17,703,367.50 9,109,251.70 42,550,082.68-203,405.34 4,745,174.47 73,904,471.01-97,850,934.38 41,036,063.42 138,886,997.80-203,405.34-203,405.34 97,850,934.38-203,405.34 41,036,063.42 138,683,592.46 13,091,122.00 13,091,122.00 1 13,091,122.00 13,091,122.00 2 3 9,109,251.70-55,300,851.70-31,678,643.45-77,870,243.45 1 9,109,251.70-9,109,251.70 2. -46,191,600.00-31,678,643.45-77,870,243.45 3 17,703,367.50-17,703,367.50 1 2 3 17,703,367.50-17,703,367.50 1. 2. 4 507,600,000.00 132,776,017.44 71,180,702.47 486,078,203.06 801,823.56 252,868,266.94 1,451,305,013.47 26 Annual Report 2009

2009 507,600,000.00 69,912,851.04 71,180,702.47 190,963,249.82 801,823.56 840,458,626.89 507,600,000.00 69,912,851.04 71,180,702.47 190,963,249.82 801,823.56 840,458,626.89-400,000.00 6,664,859.92 32,065,739.23-801,823.56 38,328,775.59 66,648,599.15 66,648,599.15 400,000.00-801,823.56-401,823.56 400,000.00 66,648,599.15-801,823.56 66,246,775.59 1 2 3 6,664,859.92-34,582,859.92-27,918,000.00 1 6,664,859.92-6,664,859.92 2. -27,918,000.00-27,918,000.00 3 1 2 3 1. 2. 4 507,600,000.00 70,312,851.04 77,845,562.39 223,028,989.05 878,787,402.48 Annual Report 2009 27

2008 507,600,000.00 69,912,851.04 62,071,450.77 155,171,584.54 1,005,228.90 795,761,115.25 507,600,000.00 69,912,851.04 62,071,450.77 155,171,584.54 1,005,228.90 795,761,115.25-9,109,251.70 35,791,665.28-203,405.34 44,697,511.64 91,092,516.98 91,092,516.98-203,405.34-203,405.34 91,092,516.98-203,405.34 90,889,111.64 1 2 3 9,109,251.70-55,300,851.70-46,191,600.00 1 9,109,251.70-9,109,251.70 2. -46,191,600.00-46,191,600.00 3 1 2 3 1. 2. 4 507,600,000.00 69,912,851.04 71,180,702.47 190,963,249.82 801,823.56 840,458,626.89 28 Annual Report 2009

8,504,263.16 38,577,395.32 653,607.61 65,057.04 46,362,993.83 18,683,163.67 5,718,101.60 9,565,000.00 3,400,062.07 5,402,647.56 5,402,647.56 27,187,426.83 43,980,042.88 6,371,709.21 9,630,057.04 55,165,703.46 Annual Report 2009 29

30 Annual Report 2009

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32 Annual Report 2009

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20-40 3-10% 2.25-4.85% 5-10 3-10% 9-19.4% 5-10 3-10% 9-19.4% 5-10 3-10% 9-19.4% 34 Annual Report 2009

Annual Report 2009 35

36 Annual Report 2009

17% 5% 5%7% 25% Annual Report 2009 37

38 Annual Report 2009

Annual Report 2009 39

40 Annual Report 2009

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182,124,661.76 3,125,363.17 178,999,298.59 217,463,289.77 18,408,464.77 199,054,825.00 66,665,055.50-66,665,055.50 124,971,896.12-124,971,896.12 98,833,278.61 274,698.90 98,558,579.71 94,654,246.52 274,698.90 94,379,547.62 6,889,657.31-6,889,657.31 5,059,211.31-5,059,211.31 354,512,653.18 3,400,062.07 351,112,591.11 442,148,643.72 18,683,163.67 423,465,480.05 42 Annual Report 2009

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44 Annual Report 2009

17,698,497.77-17,698,497.77 10,430,749.55-10,430,749.55 3,306,732.83-3,306,732.83 - - - - - - 50,470,187.86-50,470,187.86 145,707.00-145,707.00 - - - - - - 13,463,040.93-13,463,040.93 - - - 132,122.00-132,122.00 17,537,059.06-17,537,059.06 12,201,466.05-12,201,466.05 38,687,996.66-38,687,996.66 86,697,566.39-86,697,566.39 10,430,749.55 7,267,748.22 - - - - - 17,698,497.77-3,306,732.83 - - - - - 3,306,732.83 50,470,187.86 14,893,775.82 65,363,963.68 - - - - - - 145,707.00 - - - - - 145,707.00 13,463,040.93 2,788,634.96 16,251,675.89 - - - - - 74,363,978.34 28,402,598.83 81,615,639.57 - - - - 21,150,937.60 30,000,000.00 58.99 58.99 30,000,000.00 Annual Report 2009 45

46 Annual Report 2009-8,018,190.35-5,238,787.67 2013-5,238,787.67-5,238,787.67 2014-2,779,402.68 - -8,018,190.35-5,238,787.67 6,926,465.02 270,515.96 7,196,980.98-3,008,932.98 270,515.96 3,279,448.94-3,917,532.04-3,917,532.04-25,766,746.36 19,719,755.72 1,937,025.70 43,549,476.38-6,270,755.72 1,080,256.32 5,190,499.40 2 25,766,746.36 13,449,000.00 856,769.38 38,358,976.98 32,693,211.38 19,990,271.68 9,134,006.68 43,549,476.38 1 2003 0013 2004 0007 2004 0008 2007

00016 2 99012008292709 179,569.60 16 3 99012009290052 100ZGKE01EF0912 553,507.58 214,327.09 553,507.58 214,327.09 2010 1 20 2010 1 24 Annual Report 2009 47

48 Annual Report 2009

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249,220,376.04 15.91 PRECISION MAGNETICS TUAS PTE LTD 182,123,238.49 11.63 55,463,664.86 3.54 TRIDUS INTERNATION INC 46,702,729.15 2.98 NIDEC ELECTRONICS(THAILAND)CO.,LTD 44,094,933.82 2.82 577,604,942.36 36.88 50 Annual Report 2009

4,044,864.30 57,272.63 4,044,864.30 57,272.63 797,298.31 91,052.31 17,995,784.59 18,425,257.40 381,735.33 176,443.27 23,219,682.53 18,750,025.61 Annual Report 2009 51

52 Annual Report 2009

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P1 73,557,217.71 97,850,934.38 F 12,280,994.07 9,332,915.50 P2=P1-F 61,276,223.64 88,518,018.88 S0 507,600,000.00 507,600,000.00 S1 - - Si - - Mi - - Sj - - Mj - - Sk - - M0 12 12 S=S0+S1+Si*Mi/M0-Sj*Mj/M0-Sk 507,600,000.00 507,600,000.00 Y1=P1/S 0.14 0.19 Y2=P2/S 0.12 0.17 P1 73,557,217.71 97,850,934.38 F 12,280,994.07 9,332,915.50 P2=P1-F 61,276,223.64 88,518,018.88 S0 507,600,000.00 507,600,000.00 S1 - - Si - - Mi - - 54 Annual Report 2009

Annual Report 2009 55

86,477,129.89 138,886,997.80 37,608,333.67 16,659,634.51 79,867,006.19 77,269,280.81 4,392,956.90 4,877,428.95 63,140.01 89,271.56-2,312,435.60 1,671,143.85 - - - - 27,387,039.87 43,861,934.94 7,974,583.07 2,514,584.38-220,364.54-1,761,609.72-20,810.00-20,810.00 87,635,990.54 95,870,621.80-28,246,052.27 137,545,508.11-66,294,584.36-98,307,517.52-12,592,230.62-5,775,857.51 221,719,702.75 413,380,611.96 - - - - - - 466,564,700.76 443,373,137.72 443,373,137.72 279,375,500.67 - - - - 23,191,563.04 163,997,637.05 56 Annual Report 2009

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60 Annual Report 2009

265,882.82 1.10 251,631.96 94.64 225,585.94 0.82 112,792.97 50.00 23,869,241.96 98.90 154,193.07 0.65 27,199,777.92 99.18 22,391.08 0.08 24,135,124.78 100 405,825.03 27,425,363.86 100 135,184.05 Annual Report 2009 61

265,882.82 1.10 251,631.96 94.64 225,585.94 0.82 112,792.97 50.00 23,869,241.96 98.90 154,193.07 0.65 27,199,777.92 99.18 22,391.08 0.08 24,135,124.78 100 405,825.03 27,425,363.86 100 135,184.05 62 Annual Report 2009

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P1 73,557,217.71 F 12,280,994.07 P2=P1-F 61,276,223.64 E0 1,198,436,746.53 Ei Mi Ej 27,918,000.00 Mj 5,6 Ek -379,953.60 Mk 2,6 M0 12 E1 1,244,096,010.64 E2=E0+P1/2+Ei*Mi/M0-Ej*Mj/M0+Ek*Mk/M0 1,221,921,695.27 Y1=P1/E2 6.02% Y2=P2/E2 5.01% 1 1,377,000.00 100% 2 3,689,679.85 44.88% 3 29,482,529.04 47.58% T 2008 4 48,009,569.73 55.38% 5 63,140.01 74.18% 6 28,196,000.00 85.79% 7 141,012.50 100% 8 5,698,803.43 76.12% 9 26,457,125.06 304.55% 10 801,823.56 100.00% 11 41,601,848.77 60.30% 12 20,948,699.16 125.75% ENERGY CONVERSION SYSTEMS 13 5,459,998.69 217.13% 14 2,770,708.11 73.14% 66 Annual Report 2009

Annual Report 2009 67