2 4 7 26 38 43 78 85 95 97 99 100 102 104 106 107 109 111 345

2 4 7 26 38 43 78 85 95 97 99 100 102 104 106 107 109 111 345

2012 3 28 2011 4 27 2011 4 27 2011 4 27 1 2 37 3712-15 1 H 183 17 1712-1716 www.zjky.cn 2899 2012 3 28 2012 3 28 2 2011

2000 9 6 2003 12 2004 2005 2006 2007 2008 4 7.1314 A 2008 4 25 0.1 2010 2010 14,541,309,100 10 5 7,270,654,550 21,811,963,650 21,811,963,650 0.1 6,008,160,000 H27.55% 15,803,803,650 A 72.45% 2011 86.17 28.62 2011 59 1502134,352 2011 3

2011 2010 2009 2007 12 31 2011 2010 39,763,915,441 28,539,578,900 27,536,543,588 18,337,383,129 382,045,241 352,964,119 433,256,436 468,769,177 1,609,339,207 1,362,043,598 496,400,784 190,780,667 202,878,294 175,688,227 (57,130,642) 107,325,325 561,775,828 207,630,138 205,253,368 137,365,606 9,608,097,077 7,966,905,446 134,572,479 99,971,340 466,367,867 735,305,014 41,842,806 78,834,417 9,276,301,689 7,331,571,772 2,365,776,280 1,575,823,347 6,910,525,409 5,755,748,425 5,712,569,100 4,827,916,726 1,197,956,309 927,831,699 (894,452,113) 344,979,505 6,016,073,296 6,100,727,930 4,818,341,189 5,172,154,730 1,197,732,107 928,573,200 4 2011

12 31 2009 2008 2007 20,215,111 16,322,275 14,871,268 (13,642,427) (10,329,182) (9,295,361) 6,572,684 5,993,093 5,575,907 608,982 522,199 238,991 (376,971) (316,948) (255,000) (717,709) (826,891) (607,360) (968,942) (630,942) (318,248) (168,425) (247,326) (292,683) 79,050 11,370 72,371 16,654 28,502 18,225 5,045,323 4,533,057 4,432,203 (968,254) (639,031) (912,448) 4,077,069 3,894,026 3,519,755 3,552,347 3,066,201 2,552,007 524,722 827,825 967,748 4,077,069 3,894,026 3,519,755 12 31 2011 2010 2009 2008 2007 52,320,199 38,401,232 29,646,137 26,217,549 16,799,160 22,187,522 12,372,562 8,032,671 7,038,424 9,680,547 5,124,066 4,197,100 3,443,285 3,044,737 1,781,587 25,008,611 21,831,570 18,170,181 16,134,388 5,337,026 2011 5

2011 2010 2009 2008 2007 4,917,188 3,791,472 2,999,054 2,719,868 2,158,477 (%) 110 115 125 142 66 5.36 6.92 6.68 6.89 5.83 1. 5,712,569,100 4,827,916,726 25,008,610,933 21,831,570,548-15,252,213 4,812,664,513 21,831,570,548 2. 3 6 2011

2011 12 31 2011 39,763,915,441 39.33% 5,712,569,100 18.32% 0.26 18.18% 5,712,569,100 2010 4,827,916,726 21,811,963,650 2010 21,811,963,650 20112011 2011 1,421.381,920.381,308.13 1,565.0210.08% 2011 LME 9,685 10,190 6,636 7,557 2011 2011 2,430 2,599.75 1,718.5 1,845 2011 360.957 301.996 2011 86.17 28.62 9.48% ( ) 335.25892.76 27.67% 2011 7

397.6439.33 2010 285.40 57.1318.32 2010 48.28 2011 523.2036.25 2010 384.01 250.0914.55 2010 218.32 2011 8.21 1. 86,170.80 2,770,45324.76 2010 69,071.15 28,628.37 920,4231.88% 2010 29,177.05 16,165.13 519,721 2,334.51 75,056 2,100 67,517 8,028.73 258,129 57,542.43 1,850,03144.24% 2010 39,894.10 35,803.39 1,151,105 16,401.11 527,308 4,073.06 130,952 1,264.87 40,667 68.90% 68.10% 1 (troy ounce) = 31.1035 8 2011

2. 88,070.71 2.46% 2010 90,287.38 3,677.41 51.78% 2010 7,626.56 81,791.20 1.97% 2010 80,212.17 2,602.10 32,693.91 28,143.39 9,048.91 1,409.887,494.22 10.91% 21.73 3. 222,702.36 0.50 2010 223,832.61 187,616 1.36% 2010 185,097.98 35,086.36 9.42% 2010 38,734.63 187,616 19,527.7813,392.10 2,166.48 3,590.99 27.26 2010 4,936.94 7.16% 0.36 2011 9

4. 145,509.46 2010 122,419.22 35,168.75, 26,663.63 22,216.04 11,228.075,737.2415,032.26 29,463.47 195.69 11.06% 2010 176.20 13.03% 9.81% 3.0476.48 59.18 152.525.94 272.46 ZGC ZGC 248 2011 59 1502134,352 10 2011

2011 333 1,043.39 117.07 39.09% 1,161.299.78% 1,548.6 539.73 23.15% 10624.16% 35.2317.349.93 2.1660.71 8,370 2.144.59 NI 43-101 + 136.77 13.24 1. 2.3. 2011 Golder Associates Consulting Ltd.( ) NI 43-101 NI 43-101 14 13 1 13, 13 16.4% 7.03% 82.75% 104.3% 2011 11

(a) 1 13 NI 43-101 NI 43-101 333 + 331 332 333 1 (Mt) 2.47 55.27 169.26 227 121 139 260 24 284 33 g/t) 0.96 0.53 0.4 0.44 0.52 0.4 0.46 0.39 0.45 0.02 (t) 2.37 29.48 67.63 99.48 62.92 55.6 118.52 9.36 127.88 19.04 19.1% (Mt) 19.24 269.05 155.91 444.2 130 308 438 123 561-6.2 (%) 0.5 0.44 0.42 0.43 0.49 0.47 0.48 0.43 0.47 0.05 (10kt) 9.62 118.12 65.06 192.8 63.7 144.76 208.46 52.89 261.35 15.66 8.1% 2 (Mt) 5.19 4.87 10.06 19.18 9.35 28.53 32.22 60.75 18.47 (g/t) 0.45 0.32 0.39 0.42 0.41 0.42 0.38 0.4 0.03 (t) 2.33 1.55 3.88 8.06 3.83 11.89 12.24 24.13 8.01 206% (Mt) 5.19 4.87 10.06 19.18 9.35 28.53 32.22 60.75 18.47 (%) 0.24 0.17 0.2 0.17 0.16 0.17 0.19 0.18-0.03 (10kt) 1.23 0.82 2.05 3.26 1.5 4.76 6.12 10.88 2.71 132.2% (Mt) 5.19 4.87 10.06 19.18 9.35 28.53 32.22 60.75 18.47 (g/t) 77.37 55.02 66.56 55.44 47.93 52.98 41.22 46.74-13.58 (t) 401.71 267.8 669.51 1063.34 448.15 1511.49 1328.11 2839.6 841.98 125.8% (Mt) 4.05 7.39 11.44 30.54 30.54 16.63 47.17 19.1 (%) 0.66 0.58 0.61 0.37 0.37 0.36 0.37-0.24 (10kt) 2.68 4.27 6.95 11.3 11.3 5.99 17.29 4.35 62.6% (Mt) 4.05 7.39 11.44 30.54 30.54 16.63 47.17 19.1 g/t) 0.42 0.42 0.42 0.32 0.32 0.33 0.32-0.1 (t) 1.72 3.08 4.79 9.77 9.77 5.49 15.26 4.98 104% (Mt) 4.05 7.39 11.44 30.54 30.54 16.63 47.17 19.1 g/t) 17.87 17.87 17.87 8.97 8.97 10.22 9.41-8.9 (t) 72.43 132.02 204.45 273.94 273.94 169.96 443.9 69.49 34% 12 2011

NI 43-101 333 + 331 332 333 3 (Mt) 6.07 28.95 35.02 23 23 12.3 35.3-12.02 (g/t) 2.14 1.45 1.57 1.43 1.43 1.29 1.38-0.14 (t) 13 41.89 54.9 32.89 32.89 15.867 48.76-22.01-40.1% 4 (Mt) 5.41 9.79 15.2 9.83 14.58 24.41 11.68 36.09 9.21 (g/t) 3.72 4.44 4.18 2.86 2.5 2.64 2.25 2.52-1.54 (t) 20.14 43.44 63.58 28.11 36.45 64.56 26.28 90.84 0.98 1.5% 5 (Mt) 2.63 43.13 51.81 97.57 59.9 84.24 144.14 33.33 177.47 46.57 (g/t) 0.54 0.5 0.51 0.51 0.45 0.44 0.44 0.41 0.44-0.07 (t) 1.43 21.64 26.53 49.61 26.96 37.07 64.03 13.67 77.7 14.42 29.1% (Mt) 2.63 43.13 51.81 97.57 59.9 84.24 144.14 33.33 177.47 46.57 (%) 0.21 0.19 0.19 0.19 0.18 0.17 0.17 0.15 0.17-0.02 (10kt) 0.56 8.33 9.6 18.49 10.78 14.32 25.1 5 30.1 6.61 35.7% 6 (Mt) 218.53 163.47 382 109.71 469.24 578.95 263.31 842.26 196.95 (%) 0.45 0.48 0.47 0.4 0.34 0.35 0.34 0.35-0.12 (10kt) 98.51 79.16 177.67 43.88 159.54 203.42 89.53 292.95 25.75 14.5% (Mt) 0.03 0.03 109.71 469.24 578.95 263.31 842.26 578.92 (%) 0.18 0.18 0.014 0.013 0.01 0.015 0.01-0.17 (10kt) 0.01 0.01 1.54 6.1 7.64 3.95 11.59 7.63 76300% 7 (Mt) 0.73 1.76 1.02 3.51 16.6 16.6 0.6 17.2 13.09 (g/t) 5.72 5.13 5.14 5.26 2.5 2.5 2.82 2.51-2.76 (t) 4.19 9.03 5.24 18.45 41.5 41.5 1.69 43.19 23.05 124.9% 8 (Mt) 1.18 2.16 3.34 3.97 3.97-3.34 (%) 2.98 2.07 2.39 1.92 1.92-2.39 (10kt) 3.52 4.47 7.99 7.62 7.62-7.99 2011 13

NI 43-101 333 + 331 332 333 9 (Mt) 5.23 14.23 19.46 66.57 66.57-19.46 (%) 0.53 0.54 0.53 0.34 0.34-0.53 (10kt) 2.75 7.61 10.36 22.63 22.63-10.36 10 (Mt) 14.6 5.59 11.19 31.38 27 10.4 37.4 4.9 42.3 6.02 (%) 2.48 1.84 1.78 2.12 2.1 1.4 1.91 0.96 1.8-0.21 (10kt) 36.19 10.27 19.95 66.41 56.7 14.56 71.26 4.7 75.96 4.85 7.3% (Mt) 4.57 2.76 2.65 9.98 27 10.4 37.4 4.9 42.3 27.42 (%) 2.3 2.12 1.95 2.16 1.22 0.72 1.08 0.38 1-1.08 (10kt) 10.52 5.85 5.17 21.55 32.94 7.49 40.43 1.86 42.29 18.88 87.6% (Mt) 8.84 2.41 17.58 28.84 27 10.4 37.4 4.9 42.3 8.56 (%) 29.17 27.13 22.35 24.84 33.31 24.01 30.72 14.75 28.87 5.88 (10kt) 257.8 65.48 392.99 716.27 899.37 249.7 1149.07 72.28 1221.35 432.8 60.4% 11 (Mt) 64.48 34.68 99.16 45.29 50.38 95.67 7.82 103.49-3.49-3.5% (%) 38.55 31.75 36.17 31.31 30.19 30.72 24.44 30.25-5.45 (10kt) 2485.44 1101.12 3586.55 1418.03 1520.97 2939 191.12 3130.12-647.55-18.1% 12 (Mt) 252.6 125.18 10.73 388.51 256.72 116.15 372.87 12.64 385.51-15.64-4% 13 (Mt) 4.56 17 10.19 31.75 28.1 28.1 7 35.1-3.65 (%) 1.21 1.21 1.21 1.21 1.19 1.19 1.05 1.16-0.02 (10kt) 5.52 20.57 12.33 38.41 33.44 33.44 7.35 40.79-4.97-12.9% (Mt) 31.77 31.77 28.1 28.1 7 35.1-3.67 (%) 0.07 0.07 0.07 0.07 0.06 0.07 0 (10kt) 2.16 2.16 1.97 1.97 0.42 2.39-0.19-8.8% (Mt) 4.21 2.21 6.41 28.1 28.1 7 35.1 21.69 (%) 1.02 1.03 1.02 0.39 0.39 0.31 0.37-0.63 (10kt) 4.29 2.28 6.57 10.96 10.96 2.17 13.13 4.39 66.8% (Mt) 22.41 10.87 33.27 28.1 28.1 7 35.1-5.17-15.5% (%) 31.1 30.3 30.84 30.64 30.64 26.95 29.9-0.2 (10kt) 696.86 329.23 1026.09 860.98 860.98 188.65 1049.63-165.11-16.1% 14 2011

NI 43-101 333 + 331 332 333 (Mt) 5.83 120.88 273.09 399.8 209.91 317.31 527.22 130.76 657.98 127.42 (t) 7.99 97.34 189.36 294.69 126.04 217.11 343.15 84.6 427.75 48.46 16.4% (Mt) 41.03 568.95 421.22 1031.2 345.79 939.87 1285.66 550.93 1836.59 254.46 (10kt) 51.89 265.98 203.27 521.13 178.33 379.42 557.75 201.83 759.58 36.62 7.03% (Mt) 4.57 6.97 4.86 16.39 27 38.5 65.5 11.9 77.4 49.11 (10kt) 10.52 10.14 7.45 28.12 32.94 18.45 51.39 4.03 55.42 23.27 82.75% (Mt) 0.03 0.03 109.71 469.24 578.95 263.31 842.26 578.92 (10kt) 0.01 0.01 1.54 6.1 7.64 3.95 11.59 7.63 76300% (Mt) 9.24 12.26 21.5 19.18 39.89 59.07 48.85 107.92 37.57 (t) 474.14 399.82 873.96 1063.34 722.09 1785.43 1498.07 3283.5 911.47 104.30% (Mt) 31.77 31.77 28.1 28.1 7 35.1-3.67 (10kt) 2.16 2.16 1.97 1.97 0.42 2.39-0.19-8.8% (Mt) 64.48 34.68 99.16 45.29 50.38 95.67 7.82 103.49-3.49 (10kt) 2485.44 1101.12 3586.55 1418.03 1520.97 2939 191.12 3130.12-647.55-18.1% (Mt) 8.84 24.82 28.45 62.11 27 38.5 65.5 11.9 77.4 3.39 (10kt) 257.8 762.34 722.22 1026.09 899.37 1110.69 2010.06 260.93 2270.99 983.97 95.9% (Mt) 252.6 125.18 10.73 388.51 256.72 116.15 372.87 12.64 385.51-15.64-4% 2011 15

2 1 NI 43-101 NI 43-101 + (Mt) 441.2 441.20 51.9 493.1 (%) 0.31 0.31 0.34 0.31 (10kt) 136.77 136.77 17.65 154.42 (Mt) 441.2 441.20 51.9 493.1 (%) 0.03 0.03 0.021 0.029 (10kt) 13.24 13.24 1.09 14.33 NI 43-101 1 117641073-001-L-Rev0 Sia Khosrowshahi 2 117641073-005-L-Rev0 Sia Khosrowshahi 3 117641073-007-L-Rev0 Sia Khosrowshahi 4 117641073-013-L-Rev0 Alan Miller 5 117641073-019-L-Rev0 Sia Khosrowshahi 6 117641073-029-L-Rev0 Sia Khosrowshahi 7 117641073-033-L-Rev0 Sia Khosrowshahi 8 117641073-039-L-Rev0 Alan Miller 9 117641073-047-L-Rev0 Sia Khosrowshahi 10 117641073-049-L-Rev0 Sia Khosrowshahi 11 117641073-059-L-Rev0 Willem van der Schyff 12 117641073-063-L-Rev0 Willem van der Schyff 13 117641073-065-L-Rev0 Willem van der Schyff 14 117641073-069-L-Rev0 Alan Miller 16 2011

(b) NI 43-101 2 1 0.15g/t (Mt) (g/t) (t) (Mt) (g/t) (t) 121 0.52 62.92 119 0.46 54.74 139 0.40 55.6 128 0.36 46.08 260 0.46 118.52 247 0.41 100.82 2011 12 185.07% 0.13% 0.13-0.3% 0.3% (Mt) (%) (10kt) (Mt) (%) (10kt) (Mt) (%) (10Kt) 130 0.49 63.7 69 0.21 14.49 83 0.57 47.31 308 0.47 144.76 145 0.2 29 145 0.52 75.4 438 0.48 208.46 214 0.2 43.49 228 0.54 122.71 2011 12 179.73% 2011 17

2 0.45g/t (Mt) (g/t) (t) (Mt) (g/t) (t) 59.9 0.45 26.96 43 0.49 21.07 84.24 0.44 37.07 52 0.48 24.96 144.14 0.44 64.03 96 0.48 46.03 (Mt) (%) (10t) (Mt) (%) (10Kt) 59.9 0.18 10.78 43 0.19 8.17 84.24 0.17 14.32 52 0.18 9.36 144.14 0.17 25.1 96 0.18 17.53 2011 12 1 71.89% 69.84% =Au(g/t)+2*Cu(%) NI 43-101 1 117641073-001-L-Rev0 Ross Bertinshaw 2 117641073-031-L-Rev0 Ross Bertinshaw Golder Associates Consulting Ltd. NI 43 101 18 2011

7.3 9.21 104 45% CASA 2011 19

202011 ZGC 30 ZGC2,000 2012 2012 6,000 1 1.6 20 2011

2011 14 13 7 6 (PCT) 2011 40 2011 27,47580 6,000 2011 21

2012 2012 2012 30 10 125 4.2 19650 96.3 12.48 20 1. 22 2011

2. 3. 20 1. 2012 2011 23

2. 3. ZGC 24 2011

9.21 2012 65 4 55 2012 3 28 2011 25

2011 397.64 39.33% 2010 285.40 2011 2010 12 31 2011 1-12 2010 1-12 327.28 20,912 684,418 264.31 21,367 564,773 291.13 7,786 226,684 230.04 8,063 185,474 335.92 56,815 1,908,551 267.05 40,013 1,068,539 49,172 82,680 406,555 43,152 81,279 350,738 55,235 4,217 23,293 48,105 8,523 40,998 14,482 186,841 270,576 15,039 180,780 271,881 8,923 35,632 31,795 9,108 38,107 34,707 693 188 130,439 600 165 99,321 525,628 389,643-231,547-152,116 3,976,392 2,853,958 * (1) 8.55, 6.91 7.42 7.4122.27 2011 1 25.90% 13.40% 15.50% 30.20 41.12 2 50.97 26 2011

2011 2010 12 31 (%) 2011 2010 2011 2010 1-12 1-12 % 1-12 1-12 % 77.88 67.44 15.48 76.20 74.48 1.72 109.53 90.64 20.84 62.38 60.60 1.78 334.32 264.78 26.26 0.48 0.85-0.37 11,524 10,865 6.06 76.56 74.82 1.74 48,503 28,380 70.90 12.19 41.00-28.81 14,695 14,094 4.26-1.48 6.28-7.76 2,758 3,196-13.68 69.09 64.91 4.18 212 175 21.51 69.37 70.91-1.54 30.75 35.75-5.00 72.69 71.22 1.47 30.75% 572.69% 1.47 15.48% 20.84% 6.06% 21.51% 25.9% 13.4% 15.50% 20.25 30.2 0.517.37 1.71 0.36 2011 27

43,326 7.58% 46,877 2011 160,934 18.16% 136,204 1. 2. 3. 4. 73% 49,640 160.19% 19,078 4.8 20,288 17,569 8,440.5 4,432 7,181, 159-5,7132010 16,446 10,733 28 2011

942 3,013 2,834 1,121 3,0364,136 23 25 13,180 10,579,0712,321,910 27,475 20,297 2,038 1,571 1,224 720 602 1,023 491,719 112,572 29.69% 379,147 639,018 46,982 7.94% 592,036 770,436 141,271 22.45% 629,165 20 2011 29

253,297 134,781 118,516 4.8 2011 12 31634,903 2010 12 31 733,970 398,83276,348 159,723 2.9% 7.61% 2010 2.29% 6.89% (1) (%) (%) (%) 684,418 162,866 76.20 21.18 13.02 1.72 226,684 85,285 62.38 22.22 16.70 1.78 1,908,551 1,899,420 0.48 78.61 79.28 0.37 406,555 95,277 76.56 15.91 7.89 1.74 23,293 20,454 12.19-43.18-15.43 28.81 270,576 274,568-1.48-0.48 7.76 7.76 31,795 9,829 69.09-8.39-19.29 4.18 130,439 39,955 69.37 31.33 38.28 1.54 525,628 386,839 26.40 34.90 31.69 1.79-231,547-220,838 3,976,392 2,753,654 30.75 39.33 50.17 5.00 30 2011

(2) (3) 2011 5449,061 17.79% 2011 5 2,694,747 67.76% 58.16% 5% 2011 5 (4) 30% 6,180,009,655 4,651,209,600 32.87% 264,029,003 388,384,383-32.02% 574,697,737 326,625,938 75.95% 1,691,517,698 631,892,986 167.69% 7,160,297,387 3,482,682,131 105.60% 584,909,276 118,665,426 392.91% 2011 31

938,012,473 2,058,973,823-54.44% 7,898,525,167 3,999,386,221 97.49% 7,138,194,099 5,292,918,677 34.86% 333,854,223 113,160,383 195.03% 434,359,241 193,970,966 123.93% 4,005,648,200 2,321,910 172,415.22% 3,232,112,911 1,024,790,051 215.39% 1,012,751,443 430,106,172 135.47% 1,709,391,219 1,030,360,245 65.90% 216,444,590 652,448,993-66.83% 32 2011

2,987,514,948 100.00% 4.8 88,670,506 56,492,153 56.96% 2,181,196,365 1,454,130,910 50.00% 2010 33,491,518 56,500,682-40.72% 1,319,401,104 999,800,342 31.97% 14,004,152,348 10,065,314,920 39.13% -219,118,195-121,307,424 80.63% 39,763,915,441 28,539,578,900 39.33% 27,536,543,588 18,337,383,129 50.17% 496,400,784 190,780,667 160.19% 2011 33

-57,130,642 107,325,325-153.23% 561,775,828 207,630,138 170.57% 205,253,368 137,365,606 49.42% 134,572,479 99,971,340 34.61% 466,367,867 735,305,014-36.57% 2,365,776,280 1,575,823,347 50.13% 6,390,178,535 5,920,362,240 7.94% -7,704,356,375-6,291,652,494 22.45% 2,532,971,035 1,185,159,733 113.72% 34 2011

(5) 25,000 206,885 183,141 106,644 12,000 156,495 109,104 70,463 20,000 190,496 156,134 52,741 5,000 85,657 62,809 44,093 23,750 79,476 54,031 32,040 20,000 125,966 90,445 30,009 2,000 54,224 34,878 24,434 15,000 75,057 41,717 16,549 100,000 191,451 117,423 13,554 15,000 43,397 37,265 11,628 15,910 29,979 22,874 10,119 37,500 335,674 106,079 1,253 2011 35

(6) 10% 206,885 183,141 194,746 161,929 106,644 156,495 109,104 153,999 117,341 70,463 22,187,522,375 2010 12 31 12,372,561,976 30,132,676,957 2010 12 31 26,028,670,830 0.736 2010 12 31 0.475 5,712,569,100 2010 4,827,916,72618.32% 0.26 18.18% 5,712,569,100 2010 4,827,916,726 21,811,963,650 2010 21,811,963,650 2011 2010 2,527,306,040 1,693,408,870 3,041 (161,532,801) (117,585,523) 2,365,776,280 1,575,823,347 36 2011

2011 2010 9,276,301,689 7,331,571,772 1 2,319,075,422 1,832,892,943 16,582,695 (341,443,379) 16,212,501 2,495,011 2 (175,773,204) (48,518,756) 3 89,678,618 65,528,538 (21,547,998) 121,548,246 64,868,990 2,365,776,280 1,575,823,347 1 16.5% 2010 2 2011 205,253,368 2010 137,365,606 301,265,861 2010 3 2011124,631,890 2010 100,246,613 2011 37

55 2000 2006 8 2009 11 552000 8 2006 8 2006 8 2009 11 652000 8 2012 3 28 48 2000 8 2006 8 2006 8 44 1996 3 2006 8 2009 11 57 2005 2006 8 2009 11 67 1968 2008 6 38 2011

78 2006 8 69 2006 8 66 2006 8 57 1986 1992 1993 1996 (Richards Butler)1996 1997 2001 ING 2001 2004, 2009 11 48 2009 11 61 2000 8 2006 8 2011 39

50 2009 11 561996 10 2009 11 61 20002006 8 46 1994 2006 8 48 1993 12 2006 8 38 1997 8 2006 8 40 2011

421993 2009 11 58 2001 6 51 2004 12 1999 12 2011 41

2005 12 2007 4 18 2011 7 2014 7 2007 4 2012 12 2005 6 2012 6 2011 9 16 2012 1 30 2012 1 42 2011

2011 12 31 99.99% 99.95% 68.90%.1.10 97 352 564,669 137,720 426,949 (%) 32.26 (1) 2011 4 8(BVI) "" CASA Mining Ltd. "CASA" 50 CASA 133,000 665 2010 CASA 133,334 CASA 266,334 30% CASA (2) " " "" 8 2.4 30% 4,800 10 2011 43

(3) "" "" 1.61,92012% (4) " " " " "" 1 3,400 34% 16 67.9 1.7 6,460 2.686 34%10 (5) 2011 5 4 GLENCORE INTERNATIONAL PLC "Glencore" Glencore 1 Glencore 11,682,242 6 Glencore (6) " " "" 5,0001,968.5039 2010 12,978.4913 14,946.995223.0335% (7) 2011 6 29 "" Equitas Resources Corp. "Equitas" 0.15Equitas 900 0.5 0.2 13517.69% Equitas (8) 2011 10 10 2,000 100% (9) "" 2011 2 5 40%60% 44 2011

(10) "" 2011 23 46.5% 28.5% 25% (11) "" 61,818,300,000 100% 20 (12) " " 68 51% 10,200 (13) "" 1 450,066,993 100% (14) ""3 4.5 70% 10,500 (15) "" 5,00015,0007,000 95% 2,850 (16) 2011 11 21 " " " "2.5 12,50050% 2011 45

(17) 2007 2,000 20% 3,000 25% (%) Fortune Source 2011 5 5 14,000 International Limited 100% 2011 5 21 15,990 65% 2011 5 24 9,350 46.5% 2011 7 15 6,880 100% 46 2011

(%) 2011 8 15 3,150 70% 2011 6,600 60% 8 15 422,136,000 2011 27,670,000 138,350,000 7 25 193,158,736 2011 175,000,000 100% 11 4 1,154,475,000 2011 227,566,495 1,574,337,150 11 7 1,438,493,328 2011 47

(1) 2011 5 5 (BVI) Fortune Source International Limited 140,000,000 100% 80,847,819 (2) 2011 5 21 159,900,000 65% (3) 9,350 46.5% 9,350 20,03946.5% 9,318.135 2011 5 24 9,350 46.5% (4) 2011 7 15 6,880 100% (5) 2011 8 15 1,2004,500 3,150 70% 8 (6) 2011 8 15Superb Pacific Limited Summer Gold Limited Liability Partnership 6,600 422,136,000Altynken Limited Liability Company 60% 3,460 220,228,263 48 2011

(7) Luminous Gold Limited Norton Gold Fields Limited 2011 7 25 27,670,000193,158,736 138,350,000 5,900,000 144,250,000 16.98% (8) 2011 11 4Ding Jin Limited Warrior Advance Pty. Ltd.Dragon Mountain Gold Limited175,000,000 1,154,475,000 Long Province Resources Limited 100% 142,096,698 910,964,048 90% 87% (9) 2011 11 7 227,566,4951,438,493,328 1,574,337,15045% 100% 2011 49

(%) 2011 5 24 1,200 60% 2011 4 26 9,220 84.405% 2011 5 24 2,000100%60% 40%9,816,075 100%95% 2011 4 26 9,220 84.405% 50 2011

1 (%) 198,919,468 30,000,000 3,000 2011 51

2 9,318.135 9,350 46.5% 9,350 46.5% 9,350 20,03946.5% 9,318.135 2011 5 24 9,350 46.5% 14A 52 2011

(a) (b) (c) 2011 1. 2. 3. (d) 1. 2. 3. 2011 53

21,003 192 1,825 4,529 2,101 899 417 1,805 701 391 980 1,150 1,574 4,631 21,003 31 209 2,532 3,679 14,552 21,003 2011 21,003 54 2011

6,850,000 H 2011 2011 55

XV (a) XV 7 8 (b) 352(c) 132,000,000 0.84% 0.61% 7,242,525 0.05% 0.03% 7,500,000 0.05% 0.03% 7,500,000 0.05% 0.03% 1,500,000 0.01% 0.01% 56 2011

2011 12 3121,811,963,650 0.1 2011 12 31 2010 12 31 A 15,803,803,650 10,535,869,100 H 6,008,160,000 4,005,440,000 21,811,963,650 14,541,309,100 2011 12 31978,589H 1,004 977,585 1. 6,316,353,180 28.96% 2 3 2. 1 H 5,975,200,581 27.39% 3. 2,431,619,756 11.15% 4. 385,581,233 1.77% 5. 256,245,000 1.17% 6. 132,000,000 0.61% 7. 50 83,593,209 0.38% 8. 50 66,772,674 0.31% 9. 62,905,957 0.29% 10. 300 43,238,582 0.20% 1. 5,975,200,581 H27.39% 2. 208,484,145 A 3. 600,000,000 A 2011 57

336 5% H 6,316,353,180 28.96% 39.97% 2,431,619,756 11.15% 15.39% 1 2,446,736,046 11.22% 15.48% 2 BlackRock, Inc. H 549,022,164 2.52% 9.13% 3 BlackRock, Inc. H 79,469,616 0.36% 1.32% 3 Morgan Stanley H 376,972,337 1.73% 6.27% 4 Morgan Stanley H 357,830,219 1.64% 5.96% 4 (1) 2,431,619,756 (2) 15,116,290 73.56% 316 2,431,619,756 2,446,736,046 58 2011

(3) BlackRock, Inc. 549,022,164 H H9.13% 79,469,616 H H1.32% BlackRock, Inc. 2012 1 5 BlackRock, Inc. BlackRock, Inc. 549,022,164 79,469,616 BlackRock, Inc. % Trident Merger, LLC 1209 Orange Street, Blackrock Inc. 100.00 N Long position 3,470,250 Wilmington DE 19801, United States BlackRock Investment 800 Scudders Mill Road, Trident Merger, LLC 100.00 Y Long position 3,470,250 Management, LLC. Plainsboro NJ 08536, U.S.A BlackRock Holdco 2 Inc. 1209 Orange Street, Blackrock Inc. 100.00 N Long position 545,551,914 Wilmington DE 19801, Short position 79,469,616 United States BlackRock Financial Management, 40 East 52nd Street, BlackRock Holdco 2 Inc. 100.00 Y Long position 545,551,914 Inc. New York NY 10022, Short position 79,469,616 United States BlackRock Holdco 4 LLC 40 East 52nd Street, BlackRock Financial 100.00 N Long position 342,405,617 New York, 10022, Management, Inc. United States BlackRock Holdco 6 LLC 40 East 52nd Street, BlackRock Holdco 4 LLC 100.00 N Long position 342,405,617 New York, 10022, United States BlackRock Delaware Holdings, Inc. c/o The Corporation Trust BlackRock Holdco 6 LLC 100.00 N Long position 342,405,617 Company, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801, United States BlackRock Institutional Trust 400 Howard St, San Francisco, BlackRock Delaware 100.00 Y Long position 342,405,617 Company, N.A. CA, 94105-2618 Holdings, Inc. BlackRock Fund Advisors Howard Street, San Francisco, BlackRock Institutional 100.00 Y Long position 271,355,000 CA 94105, United States Trust Company, N.A. BlackRock Advisors Holdings Inc. 40 East 52nd Street, BlackRock Financial 100.00 N Long position 203,146,297 New York, 10022, Management, Inc. Short position 79,469,616 United States 2011 59

% BlackRock Capital Holdings, Inc. 40 East 52nd Street, BlackRock Advisors 100.00 N Long position 6,291,731 New York, NY 10022, USA Holdings Inc. Short position 2,056,000 BlackRock Advisors, LLC. 100 Bellevue Parkway, BlackRock Capital 100.00 Y Long position 6,291,731 Wilmington DE 19809, Holdings, Inc. Short position 2,056,000 United States BlackRock International 40 East 52nd Street, BlackRock Advisors 100.00 N Long position 196,854,566 Holdings Inc. New York, 10022, Holdings Inc. Short position 77,413,616 United States BR Jersey International LP Forum House, Grenville Street, BlackRock International 100.00 N Long position 196,854,566 St. Helier, JE1 0BR, Jersey Holdings Inc. Short position 77,413,616 BlackRock (Institutional) Canada Ltd 250 Yonge Street, BR Jersey International LP 100.00 N Long position 490,000 Suite 2400, Toronto ON M5B 2M6, Canada BlackRock Holdings Canada Limited 161 Bay Street, Suite 2500, BlackRock (Institutional) 100.00 N Long position 490,000 Toronto, Ontario M5J 2S1 Canada Ltd BlackRock Asset Management 161 Bay Street, Suite 2500, BlackRock Holdings 100.00 Y Long position 490,000 Canada Limited Toronto, Ontario M5J 2S1, Canada Limited Canada BlackRock HK Holdco Limited 35/F Cheung Kong Center, BR Jersey International LP 100.00 N Long position 30,506,326 2 Queen's Road Central, Short position 28,821,826 Hong Kong, SAR, China BlackRock Asset Management 2503-05 One International BlackRock HK Holdco 100.00 Y Long position 30,506,326 North Asia Limited Finance Centre, Limited Short position 28,821,826 1 Harbour View Street, Central, Hong Kong. BlackRock Australia Holdco Pty Ltd Level 18, 120 Collins Street, BR Jersey International LP 100.00 N Long position 145,500 Melbourne VIC 3000, Australia BlackRock Asset Management Level 43, Grosvenor Place, BlackRock Australia 100.00 Y Long position 96,000 Australia Limited 225 George Street, Sydney, Holdco Pty Ltd NSW 2000, PO Box N43, Grosvenor Place NSW 1220, Australia BlackRock Investment Management Level 43, Grosvenor Place, BlackRock Australia 100.00 Y Long position 49,500 (Australia) Limited 225 George Street, Sydney, Holdco Pty Ltd NSW 2000, PO Box N43, Grosvenor Place NSW 1220, Australia BlackRock Cayco Ltd. c/o Walkers SPV Limited, BR Jersey International LP 100.00 N Long position 3,082,500 P.O. Box 908GT, Walker House, Mary Street, George Town, British West Indies, Cayman Islands 60 2011

% BlackRock Trident Holding Riverside Two, BlackRock Cayco Ltd. 100.00 N Long position 3,082,500 Company Limited Sir John Rogerson's Quay, Grand Canal Dock, Dublin, 2, Ireland BlackRock Japan Holdings GK Sapia Tower, 1-7-12 BlackRock Trident Holding 100.00 N Long position 3,082,500 Marunouchi, Chiyoda-ku, Company Limited Tokyo, 100-0005, Japan BlackRock Asset Management Marunouchi Trust Tower Main, BlackRock Japan 100.00 Y Long position 3,082,500 Japan Limited -8-3 Marunouchi, Chiyoda-ku, Holdings GK Tokyo 100-8217 BlackRock Group Limited 12 Throgmorton Avenue. BR Jersey International LP 100.00 N Long position 162,630,240 London, EC2N 2DL, Short position 48,591,790 United Kingdom BlackRock International Limited 40 Torphichen Street, BlackRock Group Limited 100.00 Y Long position 4,584,000 Edinburgh,EH3 8JB, United Kingdom Blackrock Advisors (UK) Limited 12 Throgmorton Avenue. BlackRock Group Limited 100.00 Y Long position 64,194,040 London, EC2N 2DL, Short position 48,591,790 United Kingdom BlackRock (Netherlands) B.V. House, Grenville Street, BlackRock Group Limited 100.00 Y Long position 168,000 St. Helier, JE1 0BR, Jersey BlackRock Luxembourg Holdco 6D, Route de Trèves, BlackRock Group Limited 100.00 N Long position 68,978,200 S.a.r.l. Senningerberg, L-2633, Luxembourg BlackRock Investment Management First Floor, Fitzwilton House, BlackRock Luxembourg 100.00 N Long position 51,417,200 Ireland Holdings Ltd Wilton Place, Dublin 2, Ireland Holdco S.a.r.l. BlackRock Asset Management JPMorgan House, International BlackRock Investment 100.00 Y Long position 51,417,200 Ireland Limited Financial Services Centre, Management Ireland Dublin 1, Ireland Holdings Ltd BlackRock (Luxembourg) S.A. 6D, Route de Trèves, BlackRock Luxembourg 100.00 Y Long position 17,561,000 Senningerberg, L-2633, Holdco S.a.r.l. Luxembourg BlackRock Investment Management 12 Throgmorton Avenue. BlackRock Group Limited 100.00 N Long position 24,706,000 (UK) Limited London, EC2N 2DL, United Kingdom BlackRock Holdings Deutschland OpernTurm, Bockenheimer BlackRock Investment 100.00 N Long position 970,000 GmbH Landstraße 2-4, Management (UK) Limited 60306 Frankfurt am Main, Germany 2011 61

% BlackRock Asset Management Max-Joseph-Straße 6, BlackRock Holdings 100.00 Y Long position 970,000 Deutschland AG D-80333, München, Germany Deutschland GmbH BlackRock Fund Managers Limited 12 Throgmorton Avenue. BlackRock Investment 100.00 Y Long position 20,532,000 London, EC2N 2DL, Management (UK) Limited United Kingdom BlackRock Investment 23F, Seoul Finance Centre, BlackRock Fund 100.00 Y Long position 5,000 Management (Korea) Limited 84 Taepyungro 1-ka, Jung-ku, Managers Limited Seoul, 100-768, Korea, Republic of (4) Morgan Stanley 376,972,337 H H6.27% 357,830,219 H H5.96% Morgan Stanley 2012 1 4 Morgan Stanley Morgan Stanley 376,972,337 357,830,219 Morgan Stanley % Morgan Stanley Capital Management, 1585 Broadway, New York, Morgan Stanley 100.00 N Long position 376,972,337 L.L.C. 10036, New York, U.S.A. Short position 357,284,219 Place of Incorporation: Delaware Morgan Stanley Domestic 1585 Broadway, New York, Morgan Stanley Capital 100.00 N Long position 246,993,213 Holdings, Inc. 10036, New York, U.S.A. Management, L.L.C. Short position 227,230,095 Place of Incorporation: Delaware Morgan Stanley International 1585 Broadway, New York, Morgan Stanley Domestic 10.00 N Long position 246,993,213 Incorporated 10036, New York, U.S.A. Holdings, Inc. Short position 227,230,095 Place of incorporation: Delaware. Morgan Stanley International 1585 Broadway, New York, Morgan Stanley 90.00 N Long position 246,993,213 Incorporated 10036, New York, U.S.A. Short position 227,230,095 Place of incorporation: Delaware. Morgan Stanley International 25 Cabot Square, Canary Morgan Stanley 100.00 N Long position 157,039,413 Limited Wharf, London E14 4QA, International Incorporated Short position 137,824,295 England. Place of incorporation: England & Wales. 62 2011

% Morgan Stanley Group (Europe) 25 Cabot Square, Canary Morgan Stanley 98.30 N Long position 157,039,413 Wharf, London E14 4QA, International Limited Short position 137,824,295 England. Place of incorporation: England & Wales. Morgan Stanley UK Group 25 Cabot Square, Morgan Stanley 100.00 N Long position 157,039,413 Canary Wharf, Group (Europe) Short position 137,824,295 London E14 4QA, England. Place of incorporation: England & Wales. Morgan Stanley & Co. 25 Cabot Square, Morgan Stanley UK Group 100.00 Y Long position 157,039,413 International plc. Canary Wharf, London Short position 137,824,295 E14 4QA, England. Place of incorporation: England & Wales. Morgan Stanley Domestic 1585 Broadway, New York, Morgan Stanley Capital 100.00 N Long position 129,979,124 Holdings, Inc. 10036, New York, U.S.A. Management, L.L.C. Short position 130,054,124 Place of Incorporation: Delaware Morgan Stanley & Co, LLC Corporation Trust Center, Morgan Stanley Domestic 100.00 Y Long position 129,979,124 1209 Orange Street, Holdings, Inc. Short position 129,848,124 Wilmington, DE19801, U.S.A. Place of incorporation: Delaware Morgan Stanley International Corporation Trust Center, Morgan Stanley 18.00 N Long position 89,407,800 Holdings Inc. 1209 Orange Street, International Incorporated Short position 89,405,800 Wilmington, DE19801, U.S.A. Place of incorporation: Delaware. Morgan Stanley International Corporation Trust Center, Morgan Stanley 72.00 N Long position 89,407,800 Holdings Inc. 1209 Orange Street, Short position 89,405,800 Wilmington, DE19801, U.S.A. Place of incorporation: Delaware. Morgan Stanley International Corporation Trust Center, Morgan Stanley Domestic 10.00 N Long position 89,407,800 Holdings Inc. 1209 Orange Street, Holdings, Inc. Short position 89,405,800 Wilmington, DE19801, U.S.A. Place of incorporation: Delaware. MSDW Equity Financing Services 8-10, rue Mathias Hardt, Morgan Stanley 100.00 Y Long position 89,405,800 (Luxembourg) S.a.r.l. Luxembourg, L-1717, International Holdings Inc. Short position 89,405,800 Luxembourg. Place of incorporation: Luxembourg. 2011 63

% Morgan Stanley Capital 38-40 rue Sainte Zithe, Morgan Stanley 93.75 Y Long position 546,000 (Luxembourg) S.A. L-2763 Luxembourg. International Incorporated Short position 0 Place of incorporation: Luxembourg. Morgan Stanley Asia Pacific c/o Maples Corporate Morgan Stanley 100.00 N Long position 2,000 (Holdings) Limited Services Limited, International Holdings Inc. Short position 0 PO Box 309, Ugland House, Grand Cayman, KY1-1104. Place of Incorporation: Cayman Island MSDW-JL Holdings I Limited c/o Maples Corporate Morgan Stanley Asia 100.00 N Long position 2,000 Services Limited, Pacific (Holdings) Limited Short position 0 PO Box 309, Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands Morgan Stanley (Hong Kong) 46th Floor, International Morgan Stanley Asia 100.00 N Long position 2,000 Holdings Limited Commerce Centre, Pacific (Holdings) Limited Short position 0 1 Austin Road West, Kowloon, Hong Kong SAR. Place of incorporation: Hong Kong. Morgan Stanley Asia Regional c/o Maples Corporate Services Morgan Stanley Asia 100.00 N Long position 2,000 (Holdings) III LLC Limited, PO Box 309, Pacific (Holdings) Limited Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands Morgan Stanley (Singapore) #16-01 Capital Square, Morgan Stanley Asia 100.00 N Long position 2,000 Holdings Pte Ltd. 23 Church Street, Regional (Holdings) III LLC Short position 0 Singapore 049481. Place of incoporation: Singapore. Morgan Stanley Asia Regional c/o Maples Corporate Morgan Stanley (Singapore) 100.00 N Long position 2,000 (Holdings) IV Limited Services Limited, Holdings Pte Ltd. Short position 0 PO Box 309, Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands Morgan Stanley Japan c/o Maples Corporate Services MSDW-JL Holdings I Limited 70.00 N Long position 2,000 (Holdings) Ltd. Limited, PO Box 309, Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands 64 2011

% Morgan Stanley Japan c/o Maples Corporate Services Morgan Stanley (Singapore) 10.00 N Long position 2,000 (Holdings) Ltd. Limited, PO Box 309, Holdings Pte Ltd. Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands Morgan Stanley Japan c/o Maples Corporate Services Morgan Stanley International 10.00 N Long position 2,000 (Holdings) Ltd. Limited, PO Box 309, Holdings Inc. Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands Morgan Stanley Japan c/o Maples Corporate Services Morgan Stanley (Hong Kong) 10.00 N Long position 2,000 (Holdings) Ltd. Limited, PO Box 309, Holdings Limited Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands MSDW-JL Holdings II Limited c/o Maples Corporate Services Morgan Stanley Japan 100.00 N Long position 2,000 Limited, PO Box 309, (Holdings) Ltd. Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands MSJL Holdings 4682 Limited c/o Maples Corporate Services MSDW-JL Holdings II 100.00 N Long position 2,000 Limited, PO Box 309, Limited Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands MSJL Holdings Limited c/o Maples Corporate MSJL Holdings 4682 100.00 N Long position 2,000 Services Limited, PO Box 309, Limited Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands MS CYM Preferred Ltd. c/o Maples Corporate Services MSJL Holdings 4682 100.00 N Long position 2,000 Limited, PO Box 309, Limited Short position 0 Ugland House, Grand Cayman, KY1-1104. Place of incorporation: Cayman Islands MSJS Preferred YK Yebisu Garden Place Tower, MS CYM Preferred Ltd. 100.00 N Long position 2,000 4-20-3 Ebisu, Shibuya-ku, Short position 0 Tokyo 150-6009, Japan. Place of incorporation: Japan Morgan Stanley Japan Holdings Yebisu Garden Place Tower, Morgan Stanley Asia 18.60 N Long position 2,000 Co., Ltd 4-20-3 Ebisu, Shibuya-ku, Regional (Holdings) Short position 0 Tokyo 150-6009, Japan. IV Limited Place of incorporation: Japan 2011 65

% Morgan Stanley Japan Holdings Yebisu Garden Place Tower, MSJS Preferred YK 7.06 N Long position 2,000 Co., Ltd 4-20-3 Ebisu, Shibuya-ku, Short position 0 Tokyo 150-6009, Japan. Place of incorporation: Japan Morgan Stanley Japan Holdings Yebisu Garden Place Tower, MSJL Holdings Limited 74.34 N Long position 2,000 Co., Ltd 4-20-3 Ebisu, Shibuya-ku, Short position 0 Tokyo 150-6009, Japan. Place of incorporation: Japan Mitsubishi UFJ Morgan Stanley 2-5-2 Marunouchi, Morgan Stanley Japan 40.00 Y Long position 2,000 Securities Chiyoda-ku, Tokyo Japan. Holdings Co., Ltd Short position 0 Place of incorporation: Japan Morgan Stanley Capital Ugland House, South Church Morgan Stanley 100.00 Y Long position 0 (Cayman Islands) Limited Street, PO Box 309, Short position 546,000 George Town, Grand Cayman, Cayman Islands. Place of incorporation: Cayman Islands. Morgan Stanley Capital Corporation Trust Center, Morgan Stanley Domestic 100.00 Y Long position 0 Services Inc. 1209 Orange Street, Holdings, Inc. Short position 206,000 Wilmington, DE 19801 USA. Place of incorporation: Cayman Islands. XV 2 3 336 66 2011

2008 980,696.02 86,364.40 956,859.68 23,836.34 980,696.02 86,364.40 956,859.68 23,836.34 2008 4 A980,696.02 2011 12 956,859.68 23,836.34 2011 67

1. 152,252.68 152,411.32 2011 16,165.13 1,409.88 7,494.22 275,192 2. 46,150.00 45,738.04 2011 2,334.51 9,048.91 52,741 3. 200 19,809.40 19,809.40 2011 4,073.06 26,972.95 3,831.22 4. 1,706.76 1,706.76 5. 19,680.00 19,680.00 6. 60,300.00 60,300.00 68 2011

7. ZGC 76,362.97 76,370.69 2011 1,329.2 10,332.12 8. 27,160.00 27,160.00 70% 9. 34,210.51 25,542.79 10. 20 80,783.54 51,340.68 11. 476,800.00 476,800.00 / 995,215.86 956,859.68 / / / / / / 1 4 5 6 8 5 6 8 2 2011 69

34,210.51 25,542.79, 20 ZGC 80,783.54 51,340.68 / 114,994.05 76,883.47 / / / / / 2010 34,210.51 2010 11 3 ZGC 2010 55,252.72 20 25,530.82 20 2011 4 13 70 2011

7.3 2010 9 21 1,950 2010 10 2010 9 21 7,928,800.68 11,678,317.33 2011 12 5 2012 3 101,207 12,674,539 172010 4,745,739 17 12 15 13 2011 71

2010 9 21 311,929,227 2,480 2,000 371,419,020.29 2011 13 2010 9 21 1,300 2010 7 (2011) 42 (2011) 31 72 2011

2011 3 [2011]15 [2008]172 2010 7 3 15% 25% 2011 6 2011 7S 480,000,000 2016 4.25% 2011 7 27 2010 2010 14,541,309,100 10 5 7,270,654,550 21,811,963,650 2011 7 5 4,210,902,120 A A A36 4,210,902,120 A 2011 4 25 3 60% 2010 2010 12 31 14,541,309,100 0.10 1,454,130,910 2011 7 8 2011 73

2011 5 30 2010 2010 2010 2010 2010 2010 2010 2010 2011 2011 2011 12 31 449,061 175,532.6 17.79% 6.95% 5% 2011 2012 11 4 74 2011

75 2011 2009 11 5 3 2009 11 5 3 2012 3 28 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 2009 11 5 3 38 42

43 50 2011 5 30 2011 4 13.39.20.6 5,712,569,100 2011 21,811,963,650 10 0.80 2011 2011 A H 2011 12 31.13 76 2011

.35.22 30 31 25%.51 2012 2011 20122012 3 22 1. 2. 3. 2013 2012 2012 3 28 2011 77

1 5 2011 3 30 20 2010 2010 2010 2010 2010 2010 2011 4 12 12 2011 4 27 20 2011 8 9 20 2011 10 27 20 2011 2011 2011 78 2011

2011 2010 2011 2011 79

2011 (1) 2011 397.64 39.33% 69.11 20.06% 57.13 18.32% 0.2618.18% 250.09 14.55% 523.2036.25 % 2011 2011 2011 (2) 2011 20,287.83 8,440.5 7,181.42 4,431.96158.76 75.19 2011 (3) 20113,036.322010 4,136.1326.59% (4) 2011 27,474.98 80 2011

(5) 2011349,1223,000 311,922 2011 A 980,696.02 17,503.98 2011 12 31 956,859.68 97.57% 2011 3 31 ZGC 55,252.72ZGC NRA 5,614.29 25,530.82 80,783.54202011 5 302010 2011 (1) 175,000,0001,154,475,000 100% 2011 81

(2) 227,566,495 1,438,493,328 45% (3) 6,600 422,136,000 60% (4) 27,670,000193,158,736 138,350,000 (5) 92,200,000 84.41% 2011 (1) 19,891.95 (2) 9,350 46.5% (3) 3,000 2011 82 2011

2011 2011 2012 (1) (2) (3) 2011 83

(4) 2012 3 28 84 2011

2005 1 1 2003 12 23 2009 11 5 2012 11 4 3 3.13 3.13 A.2.1 2011 85

25 25 5 20 0 0 25 5 20 0 0 25 2 19 3 1 25 5 20 0 0 25 4 20 1 0 25 5 20 0 0 25 4 20 1 0 25 3 20 2 0 25 5 20 0 0 25 5 20 0 0 25 2 20 3 0 86 2011

2011 2010 20112011 2011 4 2011 87

4 4 0 0 0 4 0 4 0 0 4 4 0 0 0 4 0 4 0 0 4 4 0 0 0 4 2 0 0 2.7 685 2011 4 27 2011 4 27 2011 4 272011 4 4 0 0 0 4 4 0 0 0 4 3 0 1 0 4 2 0 2 0 4 4 0 0 0 2011 4 27 4 2 0 0 0 2011 4 27 4 3 0 0 0 2011 4 27 4 3 0 0 0 88 2011

2011 3 2010 2011 4 2011 2011 8 2011 2011 10 2011 2011 2012 3 27 2011 2011 2011 12 312011 95 96 2011 89

56 www.zjky.cn 90 2011

201020112011 20 52 2011 91

"" 2011 7 A 2011 4 27 20112011 10 27 2011 92 2011

2011 5 30 2011 4 13 2011 5 13 2011 5 30 2010 2010 2010 2010 2010 2010 2010 2010 2011 2011 2012 3 28 21,811,963,6500.10 6,008,160,000 H27.55%,15,803,803,650 A 72.45% 100% 2011 93

2011 12 31 94 2011

(2012) 60468092_G01 2011 12 31 2011 (1) (2) 2011 95

2011 2012 3 28 96 2011

2011 2010 1 6,180,009,655 4,651,209,600 2 264,029,003 388,384,383 3 574,697,737 326,625,938 4 489,112,425 669,093,678 5 1,691,517,698 631,892,986 6 987,302,617 792,011,714 7 7,160,297,387 3,482,682,131 8 584,909,276 118,665,426 17,931,875,798 11,060,565,856 9 938,012,473 2,058,973,823 11 3,203,933,411 2,673,804,272 12 51,056,575 53,100,358 13 10,145,321,562 8,444,568,258 14 7,898,525,167 3,999,386,221 333,854,223 113,160,383 15 7,138,194,099 5,292,918,677 16 338,979,724 383,299,356 17 769,907,533 752,546,244 18 434,359,241 193,970,966 19 3,136,179,526 3,374,938,392 34,388,323,534 27,340,666,950 52,320,199,332 38,401,232,806 2011 97

2011 2010 22 3,815,092,312 4,496,151,701 23 4,005,648,200 2,321,910 24 3,232,112,911 1,024,790,051 25 1,012,751,443 430,106,172 26 276,852,910 237,155,968 27 1,709,391,219 1,030,360,245 28 23,125,841 29,070,369 29 2,073,223,413 1,734,015,864 30 216,444,590 652,448,993 16,364,642,839 9,636,421,273 31 2,360,713,448 2,303,074,858 32 2,987,514,948 33 159,595,217 157,147,490 18 226,385,417 219,426,202 34 88,670,506 56,492,153 5,822,879,536 2,736,140,703 22,187,522,375 12,372,561,976 35 2,181,196,365 1,454,130,910 36 7,689,487,793 9,377,131,118 37 33,491,518 56,500,682 38 1,319,401,104 999,800,342 39 14,004,152,348 10,065,314,920 (219,118,195) (121,307,424) 25,008,610,933 21,831,570,548 40 5,124,066,024 4,197,100,282 30,132,676,957 26,028,670,830 52,320,199,332 38,401,232,806 98 2011

2011 2011 2010 41 39,763,915,441 28,539,578,900 41 27,536,543,588 18,337,383,129 42 382,045,241 352,964,119 43 433,256,436 468,769,177 44 1,609,339,207 1,362,043,598 45 496,400,784 190,780,667 46 202,878,294 175,688,227 47 (57,130,642) 107,325,325 48 561,775,828 207,630,138 205,253,368 137,365,606 9,608,097,077 7,966,905,446 49 134,572,479 99,971,340 50 466,367,867 735,305,014 41,842,806 78,834,417 9,276,301,689 7,331,571,772 51 2,365,776,280 1,575,823,347 6,910,525,409 5,755,748,425 5,712,569,100 4,827,916,726 1,197,956,309 927,831,699 52 0.26 0.22 53 (894,452,113) 344,979,505 6,016,073,296 6,100,727,930 4,818,341,189 5,172,154,730 1,197,732,107 928,573,200 2011 99

2011 1,454,130,910 9,377,131,118 56,500,682 999,800,342 10,065,314,920 (121,307,424 ) 21,831,570,548 4,197,100,282 26,028,670,830 5,712,569,100 5,712,569,100 1,197,956,309 6,910,525,409 (796,417,140) (97,810,771 ) (894,227,911 ) (224,202 ) (894,452,113 ) (796,417,140) 5,712,569,100 (97,810,771 ) 4,818,341,189 1,197,732,107 6,016,073,296 1. # (164,160,730) (164,160,730 ) 435,241,873 271,081,143 1. 319,600,762 (319,600,762 ) 2. (1,454,130,910 ) (1,454,130,910 ) (708,757,856 ) (2,162,888,766 ) 1. 727,065,455 (727,065,455) 1. 388,480,304 388,480,304 30,892,534 419,372,838 2. (411,489,468) (411,489,468 ) (28,142,916 ) (439,632,384 ) 727,065,455 (1,687,643,325) (23,009,164) 319,600,762 3,938,837,428 (97,810,771 ) 3,177,040,385 926,965,742 4,104,006,127 2,181,196,365 7,689,487,793 33,491,518 1,319,401,104 14,004,152,348 (219,118,195 ) 25,008,610,933 5,124,066,024 30,132,676,957 # 36 100 2011

2010 1,454,130,910 9,049,520,390 71,752,895 999,800,342 6,691,529,106 (96,553,522 ) 18,170,180,121 3,443,284,863 21,613,464,984 4,827,916,726 4,827,916,726 927,831,699 5,755,748,425 368,991,906 (24,753,902 ) 344,238,004 741,501 344,979,505 368,991,906 4,827,916,726 (24,753,902 ) 5,172,154,730 928,573,200 6,100,727,930 1. # (41,381,178 ) (41,381,178 ) 248,693,610 207,312,432 1. 2. (1,454,130,912) (1,454,130,912) (425,079,433 ) (1,879,210,345) 1. 385,561,043 385,561,043 8,844,957 394,406,000 2. (400,813,256 ) (400,813,256 ) (7,216,915) (408,030,171 ) 327,610,728 (15,252,213 ) 3,373,785,814 (24,753,902 ) 3,661,390,427 753,815,419 4,415,205,846 1,454,130,910 9,377,131,118 56,500,682 999,800,342 10,065,314,920 (121,307,424 ) 21,831,570,548 4,197,100,282 26,028,670,830 # 36 2011 101

2011 2011 2010 42,854,655,033 28,875,365,333 42,854,655,033 28,875,365,333 (30,400,248,339) (18,657,828,109) (1,243,421,788) (974,949,710) (3,594,276,242) (2,200,620,980) 54 (1,226,530,129) (1,121,604,294) (36,464,476,498) (22,955,003,093) 55 6,390,178,535 5,920,362,240 228,046,482 242,151,017 591,200,500 485,657,466 1,975,121,621 223,358,410 55 93,417,331 170,320,817 60,427,950 249,680,978 19,992,000 2,948,213,884 1,391,160,688 (7,476,373,611) (4,952,234,557) (1,646,301,298) (2,420,738,553) 55 (1,436,327,879) (203,517,153) 54 (93,567,471) (106,322,919) (10,652,570,259) (7,682,813,182) (7,704,356,375) (6,291,652,494) 102 2011

2011 2011 2010 183,850,260 94,952,733 183,850,260 94,952,733 11,969,162,578 8,722,044,537 3,051,784,128 54 241,991,412 276,087,187 15,446,788,378 9,093,084,457 (9,475,256,977) (5,722,535,786) (2,651,981,128) (2,185,388,938) (708,757,856) (395,079,433) 54 (786,579,238) (12,913,817,343) (7,907,924,724) 2,532,971,035 1,185,159,733 (93,077,303) (21,452,721) 1,125,715,892 792,416,758 3,791,471,973 2,999,055,215 55 4,917,187,865 3,791,471,973 2011 103

2011 2010 3,129,014,590 2,205,081,046 17,266,049 7,610,019 51,714,483 80,325,474 1 185,986,403 92,815,911 92,419,151 63,880,756 10,462,500 10,462,500 2 5,791,930,414 4,964,489,949 354,692,389 268,305,128 139,226,654 101,648,489 9,772,712,633 7,794,619,272 3 628,953,457 251,671,265 4 11,314,517,179 9,317,852,553 5 1,007,236,197 904,977,431 6 1,521,097,734 975,138,343 7,703,927 5,535,016 7 351,252,411 374,315,576 8 67,540,287 78,961,520 218,479,375 107,630,899 9 1,115,103,131 1,262,584,779 16,231,883,698 13,278,667,382 26,004,596,331 21,073,286,654 104 2011

2011 2010 918,268,384 1,567,389,850 3,490,174,465 2,321,910 12 170,401,663 220,602,743 2,110,280 10,714,042 162,244,197 138,077,300 734,182,864 506,708,905 305,890,146 372,488,699 43,212,700 443,113,763 5,826,484,699 3,261,417,212 13 130,610,691 126,044,628 9,060,768 9,249,534 31,299,391 139,671,459 166,593,553 5,966,156,158 3,428,010,765 2,181,196,365 1,454,130,910 8,714,239,590 9,728,469,476 16,021 516,024 1,090,812,600 771,211,838 8,052,175,597 5,690,947,641 20,038,440,173 17,645,275,889 26,004,596,331 21,073,286,654 2011 105

2011 2011 2010 14 11,539,176,241 6,205,111,040 14 6,942,756,168 2,254,088,177 123,173,167 121,409,167 12,116,345 9,546,283 520,508,087 443,228,961 15 38,916,258 35,770,106 16 1,401,806 286,733,176 (991,265) (7,377,271) 17 1,383,040,214 1,067,604,680 15,131,318 21,286,875 5,282,353,359 4,114,562,579 11,272,169 26,143,929 222,455,215 351,770,926 7,634,798 39,061,822 5,071,170,313 3,788,935,582 936,210,685 696,423,799 4,134,959,628 3,092,511,783 (287,164,431) 92,132,896 3,847,795,197 3,184,644,679 106 2011

2011 1,454,130,910 9,728,469,476 516,024 771,211,838 5,690,947,641 17,645,275,889 4,134,959,628 4,134,959,628 (287,164,431 ) (287,164,431 ) (287,164,431 ) 4,134,959,628 3,847,795,197 1. 319,600,762 (319,600,762 ) 2. (1,454,130,910 ) (1,454,130,910 ) 1. 727,065,455 (727,065,455 ) 1. 219,979,364 219,979,364 2. (220,479,367 ) (220,479,367 ) 727,065,455 (1,014,229,886 ) (500,003 ) 319,600,762 2,361,227,956 2,393,164,284 2,181,196,365 8,714,239,590 16,021 1,090,812,600 8,052,175,597 20,038,440,173 2011 107

2010 1,454,130,910 9,636,336,580 671,181 771,211,838 4,052,566,770 15,914,917,279 3,092,511,783 3,092,511,783 92,132,896 92,132,896 92,132,896 3,092,511,783 3,184,644,679 1. 2. (1,454,130,912 ) (1,454,130,912 ) 1. 300,271,035 300,271,035 2. (300,426,192 ) (300,426,192 ) 92,132,896 (155,157 ) 1,638,380,871 1,730,358,610 1,454,130,910 9,728,469,476 516,024 771,211,838 5,690,947,641 17,645,275,889 108 2011

2011 2011 2010 11,802,989,933 6,256,000,075 11,802,989,933 6,256,000,075 (6,969,869,997) (2,273,697,585) (346,589,934) (322,476,932) (1,020,867,944) (757,399,232) (545,417,942) (338,823,586) (8,882,745,817) (3,692,397,335) 18 2,920,244,116 2,563,602,740 103,747,169 242,750,718 1,368,484,889 1,149,025,895 55,903,682 173,184,958 493,732,503 326,665,464 1,898,746 12,546,961 2,023,766,989 1,904,173,996 (698,926,412) (487,140,800) (3,631,506,005) (2,692,573,306) (4,330,432,417) (3,179,714,106) (2,306,665,428) (1,275,540,110) 2011 109

2011 2011 2010 2,168,268,384 991,045,747 3,489,007,461 19,937,406 8,806,780 5,677,213,251 999,852,527 (3,135,054,850) (689,944,473) (1,609,725,509) (1,552,267,764) (487,443,998) (161,000,000) (5,232,224,357) (2,403,212,237) 444,988,894 (1,403,359,710) (3,690,283) 3,170,211 1,054,877,299 (112,126,869) 1,636,013,185 1,748,140,054 18 2,690,890,484 1,636,013,185 110 2011

2000 9 6 3500001002192 2000 8 17 (2000)22 1999 12 31 2004 6 16 2003 6 28 2003 11 18 [2003]41 0.1 400,544,000 3.3 3.516 36,413,090 3.3 3.516 131,413,0912004 5 282003 131,413,0911,314,130,910 0.1262,826,1822005 5 312004 262,826,182 2,628,261,820 0.1525,652,364 2006 5 182005 525,652,3645,256,523,640 0.1 2005 5,256,523,640 10102007 4 30 2006 262,826,182 2,628,261,820 0.1 2006 10,513,047,280 102.5 1,314,130,910 [2008]417 [2008]29 2008 4 25 A 14 0.17.13 1,454,130,910 2011 111

A1,050,000,000 2008 4 25 350,000,000 2008 7 25 4,210,902,100 36 4,924,966,980 12 A 2009 4 27 33.87% 2011 5 302010 727,065,4557,270,654,550 0.1 2010 14,541,309,100 105 21,811,963,65035 2012 3 28 1. 2006 2 38 112 2011

2. 2011 3. 1 1 12 31 4. 5. 2011 113

5. 6. 114 2011

6. 7. 8. 2011 115

8. 9. (1) (2) (a) (b) 116 2011

9. 2011 117

9. 118 2011

9. 2011 119

9. 120 2011

9. 2011 121

9. 2 122 2011

10. 11. (1) 10,000,000 (2) 2011 123

12. 13. 124 2011

13. 7 2011 125

13. 26 9 126 2011

14. 26 15. 2011 127

15. 13 8-35 3% 2.77-12.13% 8-30 3% 3.23-12.13% 5-15 3% 6.47-19.4% 5 3% 19.4% 4-10 3% 9.7-24.25% 6 3% 16.17% 26 16. 26 128 2011

17. (1) (2) (3) (1) (2) 3 2011 129

18. 30-50 2-30 50 10 130 2011

18. 26 19. 1 5-50 20. 2011 131

21. 132 2011

22. 23. 1) 2) 2011 133

23. 1) 2) 24. 134 2011

25. (1) (2) (3) 26. 2011 135

26. 27. 1 136 2011

28. 29. 30. (1) (2) (3) 31. 2011 137

31. 138 2011

31. 16 2011 139

31. 140 2011

1. 17% 5%3%3% 5% 5% 1% 5% 7% 2 6 2010 2 6 6 72010 6 7 7.142010 7.14 20 2010 20 2% 4% 25% 16.5% * 2011 141

2. [2001]202 2001 2010 15%2009 2010 15% 2011 1 1 25% [2007]39 2008 1 15 15% 2008 18% 2009 20% 2010 22% 2011 24% 2012 25% 2011 24% [2001]202 2001 2010 15% [2007]29 2008 2 27 2007 201015% 2011 1 1 25% < > [2008]421 2008 2010 2011 1 1 25% 142 2011

2. [2001]202 [2002]65 20032010 15% 2011 1 1 25% [2001]202 2001 2010 15% [2002]47 [2008]50 201015% 2011 1 1 25% (2006)80 2006 2010 15% 2011 1 1 25% 2011 143

1. (1) 73097727-8 200,000,000 112,000,000 51% 5% 56% 1 70546552-9 400,000,000 400,000,000 100% 100% 2 74456685-9 200,000,000 200,000,000 96.63% 3.37% 100% 3 76378183-7 300,000,000 300,000,000 100% 100% 4 76176521-9 564,000,000 564,000,000 99.11% 0.89% 100% 5 838,500,001 838,500,001 100% 100% 6 1,000,000,000 144 2011

1. (1) 77041052-4 300,000,000 300,000,000 95% 5% 100% 7 76786644-0 375,000,000 252,000,000 67.2% 67.2% 8 76615601-7 300,000,000 300,000,000 100% 100% 9 78469998-X 120,000,000 72,000,000 60% 60% 10 78084088-6 237,500,000 142,500,000 60% 60% 11 78901087-0 298,000,000 298,000,000 100% 100% 12 79515408-8 1,179,600,000 1,179,600,000 100% 100% 13 2011 145

1. (1) 79474193-4 22,500,000 22,500,000 75% 25% 100% 14 50,000,000 77959258-X 159,100,000 159,100,000 80% 20% 100% 15 66498436-4 200,000,000 200,000,000 100% 100% 16 79211756-4 150,000,000 150,000,000 100% 100% 17 78193694-3 800,000,000 408,000,000 51% 51% 18 79724451-1 1,000,000,000 775,180,000 77.52% 77.52% 19 146 2011

1. (1) 79722687-4 40,000,000 40,000,000 100% 100% 20 66507451-4 100,000,000 70,000,000 70% 70% 21 71052565-3 120,000,000 120,000,000 100% 100% 22 67193079-4 500,000,000 500,000,000 60% 40% 100% 23 67334624-1 600,000,000 600,000,000 100% 100% 24 2011 147

1. (1) 67651193-5 10,000,000 8,000,000 80% 80% 25 67915178-7 450,066,993 450,066,993 100% 100% 26 67873293-4 30,000,000 30,000,000 100% 100% 27 79724451-1 (APT) 50,000,000 25,500,000 51% 51% 28 148 2011

1. (1) 67362506-4 70,000,000 35,700,000 51% 51% 29 1 1 100% 100% 30 67633284-9 10,000,000 10,000,000 100% 100% 31 67845873-6 280,000,000 280,000,000 100% 100% 32 10,000 9,000 90% 90% 33 4,000,000 2011 149