2 3 8 13 20 29 42 44 46 48 49 51 53 55 56 57 59 160 162 1. 2.

7,124,775 5,886,854 3,367,726 2,154,840 1,602,098 1,270,105 958,659 564,292 459,316 293,743 1,380,922 987,159 619,430 496,842 339,417 1,187,036 852,062 529,594 423,337 341,982 1,184,443 850,528 526,087 422,300 341,894 2,593 1,534 3,507 1,037 88 1.09 0.78 0.49 0.39 0.32 8,654,179 7,088,275 5,459,557 4,246,628 3,722,412 3,216,495 2,518,512 1,512,301 745,527 487,529 5,437,684 4,569,763 3,947,256 3,501,101 3,234,883 2007 2

7,124.8 5,886.9 21.0% 1,184.4 850.5 39.3% 1.090.78 39.7% 2011 3

IGBT 800 AAAA 4

9600 7200 HXD1C 4400 CRH6 IGBT - - IGCT 2011 5

Zhuzhou CSR Times Electric Co., Ltd. Printed Circuit Business Division Zhuzhou Times Electronics Co., Ltd. Zhuzhou Times Equipment Technology Co., Ltd. Kunming CSR Electric Equipment Co., Ltd. Hangzhou CSR Electric Equipment Co., Ltd. Guangzhou CSR Times Electric Technology Co., Ltd. 6

Safety Equipment Business Division Power Electronics Business Division Ningbo CSR Times Sensor Technology Co., Ltd. Beijing CSR Times Information Technology Co., Ltd. Shenyang CSR Times Transportation Equipment Co., Ltd. Baoji CSR Times Engineering Machinery Co., Ltd. Dynex Power Inc. Zhuzhou Shiling Transportation Equipment Co., Ltd. 2011 7

5,246.7 4,134.5 2,214.3 2,350.7 2,537.7 1,471.5 494.7 312.3 439.9 410.9 597.2 566.7 6,283.8 5,112.1 498.7 462.2 107.7 100.7 234.6 211.9 841.0 774.8 7,124.8 5,886.9 5,886.91,237.9 7,124.821.0% 234.6 1,066.214M2T 6M2T 182.4 3,708.4 24.0% 4,598.7 2,178.5 16.0% 2,526.1 37.0% 35.5% 8

345.7 5.9% 347.4 4.9% 1 754.3 12.8% 817.7 11.5% 1.3 18.1 50.8% 27.3 149.9 54.1% 68.8 131.6 45.2 63.2 77.5% 112.2 34.7 96.3% 1.3 2011 9

987.2 39.9% 1,380.9 16.8% 19.4% 135.1 43.5% 193.9 15% 25 13.7% 14.0% 850.5 39.3% 1,184.4 1.5 73.3% 2.6 0.78 0.31 1.09 484.2 10

754.3 1,241.8 618.1 352.3 310.0 139.5 357.7 12 31 12 31 142.0 189.2 10.1 2.3 49.9 202.0 191.5 820.8 175.4 11.1 9.5 831.9 184.9 1,033.9 376.4 2011 11

12 31 12 31 139.0 500.0 500.0 60.3 3.1 699.3 503.1 10.7% 10.4% 12

51 55 45 Dynex 2011 13

45 58 71 CCTA CCTA 14

54 65 41 2011 15

54 48 48 16

58 45 46 41 2011 17

41 Dynex 40 47 MBA 18

40 42 45 59 20 2011 19

20

6 6 100% 6 6 100% 6 6 100% 6 6 100% 6 6 100% 6 6 100% 6 6 100% 6 6 100% 6 6 100% 2 2 100% 2011 21

(1) (2) (3) (4) (5) (6) (7) 22

(1) (2) (3) (4) 4/4 4/4 4/4 2/2 4/4 4/4 2011 23

1/1 1 0/0 1/1 2 1/1 (1) (2) 24

(1) (2) (3) (4) (1) (2) (3) (4) (5) (6) (7) (8) 2011 25

2,900 570 490 30 26

2011 27

(1) (2) (3) (4) (5) (6) 28

44 159 2,023.3 0.340 H H 10% [1994]020 H H 2011 29

H 11 18 19 28 31 DynexDynexDynex DynexDynex Dynex Dynex 2,657,316 Dynex3.30% Dynex Dynex10% Dynex 10% 5% 5% Dynex Dynex Dynex 30

Dynex Dynex 0.30 100,000 0.30 50,000 150,000 (1) (2) 1 0.30 (3) Dynex 0.30 (4) Dynex 0.30 Dynex Dynex Dynex 1,830,330 2011 31

2,023.3 368.6 68.8% 36.3% 97.2% 100% 100% 5% 30% 32

2011 33

13 17 Dynex XV XV 352 34

4,963 658.0 5 Dynex Dynex Dynex 589,585,699 54.38% 9,380,769 0.87% 9,380,769 0.87% 10,000,000 0.92% 9,800,000 0.90% H 456,108,400 42.06% 1,084,255,637 100% 2011 35

XV 2 3 589,585,699 93.86% 54.38% 1 608,966,468 96.95% 56.16% 2 618,347,237 98.44% 57.03% JPMorgan 6,068,988 1.33% 0.56% Chase & Co. 4,711,988 1.03% 0.43% 20,153,000 4.42.% 1.86% 27,871,935 6.11% 2.57% Cheah Capital 35,883,000 7.87% 3.31% Management Limited Cheah Company 35,883,000 7.87% 3.31% Limited Hang Seng Bank 35,883,000 7.87% 3.31% Trustee International Limited Value Partners 35,883,000 7.87% 3.31% Group Limited 36

Value Partners Limited 35,883,000 7.87% 3.31% 35,883,000 7.87% 3.31% 35,883,000 7.87% 3.31% GE Asset 26,958,645 5.91% 2.49% Management incorporated BlackRock, Inc. 24,348,745 5.34% 2.25% 1,821,791 3 0.40% 0.17% Fortis Investment 23,544,000 5.16% 2.17% Management SA Morgan Stanley 23,193,000 4 5.08% 2.14% 22,684,596 4.97% 2.09% FIL Limited 22,913,000 5.02% 2.11% (1) 100% (2) 55.06% 100% (3) BlackRock Inc. 325,000 H (4) Morgan Stanley 25,000 H 2011 37

14A.45 14A.48 38

597.1 4,590.4 14A.38 (1) (2) (3) (4) (i) (ii) (iii) 2011 39

(iv) (v) (i) (vi) 2012 3 29 1,084,255,637 0.340 368,646,917 40

10% H H 2011 41

1. 2. 42

2011 43

(2012) 60467257_A01 (1) (2) 44

2012 3 29 2011 45

12 31 12 31 1 2,157,721,027 1,681,459,290 2 1,051,609,300 791,448,692 3 1,119,253,348 901,235,717 4 109,766,313 103,856,109 5 103,373,942 26,649,880 6 1,668,583,237 1,590,491,385 8 1,092,595 7 326,745,808 83,835,319 6,538,145,570 5,178,976,392 8 1,772,676 4,049,142 10 202,853,768 168,103,938 11 1,367,692,631 1,200,278,728 135,340,542 203,315,594 12 200,313,770 182,331,684 12 39,322,801 7,124,068 13 58,694,931 61,039,505 14 59,717,549 43,677,601 15 50,325,133 39,378,500 2,116,033,801 1,909,298,760 8,654,179,371 7,088,275,152 59 159 46

12 31 12 31 18 139,000,000 19 500,000,000 500,000,000 20 448,604,661 196,086,850 21 906,553,647 1,012,637,815 22 351,164,281 243,057,865 23 15,390,522 7,680,029 24 286,584,166 171,837,030 25 12,468,969 6,845,833 26 134,599,283 103,506,159 27 125,258,321 134,693,562 2,919,623,850 2,376,345,143 28 57,075,276 2,332,751 14 15,725,481 13,714,095 29 134,147,121 91,150,106 30 89,923,075 34,969,987 296,870,953 142,166,939 3,216,494,803 2,518,512,082 31 1,084,255,637 1,084,255,637 32 1,693,508,949 1,693,508,949 33 350,134,445 227,060,371 34 2,218,523,143 1,487,852,295 (29,761,317) (19,730,237) 5,316,660,857 4,472,947,015 121,023,711 96,816,055 5,437,684,568 4,569,763,070 8,654,179,371 7,088,275,152 59 159 2011 47

35 7,124,774,974 5,886,854,235 35 4,598,693,100 3,708,357,506 36 45,691,926 9,704,011 347,441,917 345,716,671 37 817,743,978 754,306,139 38 27,342,197 18,091,668 39 68,847,635 149,946,109 40 51,090,507 57,927,000 40 49,811,540 57,303,971 1,270,104,728 958,659,131 41 112,153,540 63,167,927 42 1,336,057 34,667,643 42 904,403 32,252,900 1,380,922,211 987,159,415 43 193,885,925 135,097,752 1,187,036,286 852,061,663 1,184,442,891 850,528,177 2,593,395 1,533,486 44 1.09 0.78 1.09 0.78 45 (12,416,819) (18,187,345) 1,174,619,467 833,874,318 1,174,411,811 836,004,404 207,656 (2,130,086) 59 159 48

1,084,255,637 1,693,508,949 227,060,371 1,487,852,295 (19,730,237 ) 4,472,947,015 96,816,055 4,569,763,070 ( ) 1,184,442,891 1,184,442,891 2,593,395 1,187,036,286 ( ) 1. (10,031,080 ) (10,031,080 ) (2,385,739 ) (12,416,819 ) 1,184,442,891 (10,031,080 ) 1,174,411,811 207,656 1,174,619,467 ( ) 1. 24,000,000 24,000,000 ( ) 1. 123,074,074 (123,074,074 ) 2. (330,697,969 ) (330,697,969 ) (330,697,969 ) 1,084,255,637 1,693,508,949 350,134,445 2,218,523,143 (29,761,317 ) 5,316,660,857 121,023,711 5,437,684,568 59 159 2011 49

1,084,255,637 1,694,217,559 139,806,085 936,008,253 (5,206,464 ) 3,849,081,070 98,175,711 3,947,256,781 ( ) 850,528,177 850,528,177 1,533,486 852,061,663 ( ) 1. (14,523,773 ) (14,523,773 ) (3,663,572 ) (18,187,345 ) 850,528,177 (14,523,773 ) 836,004,404 (2,130,086 ) 833,874,318 ( ) 1. 61,820 61,820 2. (708,610 ) (708,610 ) 708,610 ( ) 1. 87,254,286 (87,254,286 ) 2. (211,429,849 ) (211,429,849 ) (211,429,849 ) 1,084,255,637 1,693,508,949 227,060,371 1,487,852,295 (19,730,237 ) 4,472,947,015 96,816,055 4,569,763,070 59 159 50

7,884,964,903 6,741,841,359 44,835,429 45,059,699 151,718,503 86,308,131 8,081,518,835 6,873,209,189 (4,801,367,322) (4,369,499,587) (643,605,339) (503,028,533) (498,964,687) (440,429,996) (895,810,788) (805,909,002) (6,839,748,136) (6,118,867,118) 46 1,241,770,699 754,342,071 16,340,677 11,372,104 27,870,337 4,476,585 1,027,680 90,128,250 44,211,014 107,004,619 (352,290,785) (408,742,421) (310,000,000) (4,049,141) (83,168,665) (662,290,785) (495,960,227) (618,079,771) (388,955,608) 59 159 2011 51

24,000,000 61,821 24,000,000 61,821 498,000,000 498,000,000 440,984,790 35,342,740 962,984,790 533,404,561 (500,000,000) (244,736,975) (154,851,480) (357,699,681) (222,893,771) (1,102,436,656) (377,745,251) (139,451,866) 155,659,310 484,239,062 521,045,773 1,569,479,328 1,048,433,555 46 2,053,718,390 1,569,479,328 59 159 52

12 31 12 31 1,796,772,759 1,327,204,047 907,710,223 713,684,212 1 954,599,711 676,218,424 95,270,853 97,148,042 2 343,291,085 179,633,968 1,444,346,990 1,408,830,663 1,092,595 300,000,000 68,061,331 5,843,084,216 4,470,780,687 1,772,676 4,049,142 3 904,227,042 848,477,212 921,212,320 853,289,051 103,100,459 161,037,980 96,827,829 97,760,789 26,594,184 7,124,068 56,042,153 40,105,036 38,268,244 29,378,500 2,148,044,907 2,041,221,778 7,991,129,123 6,512,002,465 59 159 2011 53

12 31 12 31 139,000,000 500,000,000 500,000,000 397,588,080 161,550,000 744,516,462 926,208,299 325,908,032 187,194,276 5,811,415 2,108,571 267,470,874 159,400,121 12,468,969 6,845,833 119,155,961 75,109,050 117,560,719 130,550,830 2,629,480,512 2,148,966,980 130,332,806 87,922,443 80,301,667 24,141,667 210,634,473 112,064,110 2,840,114,985 2,261,031,090 1,084,255,637 1,084,255,637 1,693,282,738 1,693,282,738 350,134,445 227,060,371 2,023,341,318 1,246,372,629 5,151,014,138 4,250,971,375 7,991,129,123 6,512,002,465 59 159 54

4 6,355,058,217 5,096,085,525 4 4,216,017,790 3,281,874,642 39,079,597 1,839,204 292,825,919 306,969,893 629,838,943 576,908,531 26,740,379 17,855,592 81,068,240 148,858,400 5 231,090,507 216,883,580 5 49,811,540 57,303,971 1,300,577,856 978,662,843 100,023,383 47,726,323 1,033,252 32,558,741 825,454 30,402,057 1,399,567,987 993,830,425 168,827,255 121,287,562 1,230,740,732 872,542,863 1,230,740,732 872,542,863 59 159 2011 55

1,084,255,637 1,693,282,738 227,060,371 1,246,372,629 4,250,971,375 ( ) 1,230,740,732 1,230,740,732 ( ) 1,230,740,732 1,230,740,732 ( ) 1. 123,074,074 (123,074,074) 2. (330,697,969) (330,697,969) 1,084,255,637 1,693,282,738 350,134,445 2,023,341,318 5,151,014,138 1,084,255,637 1,693,282,738 139,806,085 672,513,901 3,589,858,361 ( ) 872,542,863 872,542,863 ( ) 872,542,863 872,542,863 ( ) 1. 87,254,286 (87,254,286) 2. (211,429,849) (211,429,849) 1,084,255,637 1,693,282,738 227,060,371 1,246,372,629 4,250,971,375 59 159 56

6,966,753,931 5,786,182,979 41,337,946 40,415,611 136,287,287 89,477,574 7,144,379,164 5,916,076,164 (4,511,957,390) (4,252,288,239) (448,324,092) (367,424,611) ( 405,837,406) (337,813,878) (819,946,613) (436,604,098) (6,186,065,501) (5,394,130,826) 6 958,313,663 521,945,338 657 196,340,677 169,068,074 25,655,044 846,371 60,000,000 221,995,721 229,915,102 (177,367,619) (300,304,499) (321,000,000) (118,000,000) (61,213,100) (498,367,619) (479,517,599) (276,371,898) (249,602,497) 59 159 2011 57

498,000,000 498,000,000 368,414,694 866,414,694 498,000,000 (500,000,000) (229,414,694) (14,380,964) (356,349,146) (222,495,929) (1,085,763,840) (236,876,893) (219,349,146) 261,123,107 462,592,619 533,465,948 1,244,200,948 710,735,000 1,706,793,567 1,244,200,948 59 159 58

2005 9 26 [2005]1095 430000000009725H 2006 12 414,644,000 H 1 H 5.32,197,613,000 2,209,968,000 H 2006 12 1,084,255,63731 2012 3 29 2011 59

2006 2 38 6 1 1 12 31 60

2011 61

62

(1) (2) (a) (b) 2011 63

64

2011 65

66

2 2011 67

68

21 9 2011 69

20-45 5% 2.11%-4.75% 10 5% 9.50% 5 5% 19.00% 5 5% 19.00% 21 21 70

(1) (2) (3) (1) (2) 3 2011 71

40-50 5-10 3-10 21 72

(1) (2) (3) 2011 73

(1) (2) 74

(1) (2) 2011 75

1 76

(1) (2) (3) 2011 77

78

17% 5% 7% 25% 2007 3 16 15% 11 4 GF201143000144 GF2011430000563 [2011]10 9 6 GF2011331000493 [2009]134 2009 7 15 GR2009430000733 2009 2011 15% 15% 2011 79

[2011]582020 1 1 2020 12 31 15% 70% 80

100% 100% 48,826,200 100% 100% 80,000,000 100% 100% 36,000,000 100% 100% 29,000,000 100% 100% 3,000,000 80% 80% 200,000,000 100% 100% 3,000,000 60% 60% 75,000,000 1 60% 60% 30,000,000 2 Times Electric USA, LLC 430,000 100% 100% Times USA Dynex Power Inc. 37,096,192 75% 75% Dynex Dynex Semiconductor 15,000,000 75% 75% Limited Dynex Semiconductor 2011 81

1 12 23 75,000,000 3,000,000 12,000,000 100% 60% 40%30,000,000 2012 1 12 2 2011 18,000,00060% 12,000,00040% 7 28 2011 28,184,295 1,815,705 82

2,848 6.1777 17,594 1,987,956,332 1.0000 1,987,956,332 7,688,986 6.3009 48,447,532 4,819,166 0.8107 3,906,898 349,220 8.1625 2,850,508 11,944 6.1777 73,786 1,054,557 9.7116 10,241,436 224,304 2,053,700,796 104,002,637 1.0000 104,002,637 2,157,721,027 2011 83

12 31 1,034 1.0000 1,034 2,333 6.6043 15,411 16,445 1,512,111,979 1.0000 1,512,111,979 5,842,886 6.6227 38,695,679 10,546,475 0.8509 8,973,995 297,156 8.8065 2,616,902 172,569 6.6043 1,139,699 579,806 10.2182 5,924,574 55 1,569,462,883 111,979,962 1.0000 111,979,962 1,681,459,290 12 31 12 31 97,033,368 86,877,105 4,864,016 10,102,857 2,105,253 15,000,000 104,002,637 111,979,962 1 22,810,794 (12 31 24,024,936 ) 1 3 84

12 31 12 31 919,148,640 740,080,922 132,460,660 51,367,770 1,051,609,300 791,448,692 6 12 31 12 31 6 902,907,803 734,815,763 6 1 170,255,141 93,164,353 1 2 49,373,741 84,117,363 2 3 25,883,076 18,000,848 3 9,208,557 5,379,769 1,157,628,318 935,478,096 38,374,970 34,242,379 1,119,253,348 901,235,717 34,242,379 35,753,192 7,595,807 3,002,588 1,017,130 (4,254,766) (1,124,911) (168,890) (3,332,912) (56,690) (55,578) 38,374,970 34,242,379 2011 85

161,686,555 3,071,971 12 31 12 31 1 97,992,397 84,537,501 1 2 10,180,203 2,790,198 2 3 1,593,713 16,417,016 3 111,394 109,766,313 103,856,109 12 31 12 31 1 101,030,454 20,767,158 1 2 2,917,976 3,737,653 2 3 654,670 4,847,315 3 1,305,792 283,530 105,908,892 29,635,656 2,534,950 2,985,776 103,373,942 26,649,880 86

2,985,776 4,000,591 37,562 (450,826) (415,609) (636,768) 2,534,950 2,985,776 2011 87

689,993,102 89,218,919 600,774,183 404,565,010 21,234,863 383,330,147 708,950,559 30,743,227 678,207,332 7,082,140 810,565 6,271,575 1,810,590,811 142,007,574 1,668,583,237 12 31 499,950,051 50,306,722 449,643,329 369,627,516 30,728,892 338,898,624 813,040,593 16,578,913 796,461,680 5,634,915 147,163 5,487,752 1,688,253,075 97,761,690 1,590,491,385 1 2 50,306,722 43,334,684 (4,065,631) (356,856) 89,218,919 30,728,892 2,799,823 (11,971,566) (322,286) 21,234,863 16,578,913 16,219,107 (1,758,517) (224) (296,052) 30,743,227 147,163 751,247 ( 87,845) 810,565 97,761,690 63,104,861 (17,883,559) (224) (975,194) 142,007,574 1 2 88

1 2 49,581,681 9,083,976 (6,963,862) (638,454) (756,619) 50,306,722 41,036,063 16,515,442 (24,837,434) (247,143) (1,738,036) 30,728,892 20,182,582 4,377,179 (7,000,865) (332,980) (647,003) 16,578,913 379,541 12,225 (163,297) (81,306) 147,163 111,179,867 29,988,822 (38,965,458) (1,299,883) (3,141,658) 97,761,690 1 2 12 31(12 31 ) 12 31 12 31 16,745,808 83,835,319 310,000,000 326,745,808 83,835,319 12 31300,000,000 12 31 2012 1 4 4.8% 12 29 10,000,000 12 29 2012 1 12 4.4% 2011 89

12 31 2,865,271 2,865,271 4,049,142 4,049,142 12 31 12 31 1 1,092,595 1,183,871 1 2 1,163,640 1,092,595 2 3 609,036 1,163,640 3 4 609,036 2,865,271 4,049,142 1,092,595 1,772,676 4,049,142 90

14,000,000 50% 349,074,346 40,003,164 309,071,182 300,338,128 85,687,578 128,989,000 30% 673,736,206 503,458,329 170,277,877 582,860,197 39,784,540 14,000,000 50% 296,973,477 51,589,865 245,383,612 198,803,853 62,200,749 128,989,000 30% 508,048,671 362,833,614 145,215,057 695,751,064 87,345,321 2011 91

122,691,802 31,843,789 154,535,591 154,535,591 11,000,000 45,012,136 2,906,041 47,918,177 47,918,177 4,061,710 400,000 400,000 400,000 168,103,938 34,749,830 202,853,768 202,853,768 15,061,710 97,091,427 25,600,375 122,691,802 122,691,802 5,500,000 984,260 (984,260) 18,808,540 26,203,596 45,012,136 45,012,136 400,000 400,000 400,000 117,284,227 50,819,711 168,103,938 168,103,938 5,500,000 92

769,438,786 108,620,861 (1,476,932) 876,582,715 674,983,476 197,473,959 (22,594,390) (10,081,016) 839,782,029 22,376,452 7,377,299 (477,446) (9,828) 29,266,477 114,110,407 23,479,699 (4,147,321) (4,061) 133,438,724 1,580,909,121 336,951,818 (27,219,157) (11,571,837) 1,879,069,945 85,694,665 24,519,686 (20,952) 110,193,399 202,957,413 72,634,108 (1,260,377) (3,000,466) 271,330,678 9,838,909 3,806,329 (453,574) (2,502) 13,189,162 56,110,884 17,211,178 (3,350,185) (1,297) 69,970,580 354,601,871 118,171,301 (5,064,136) (3,025,217) 464,683,819 683,744,121 84,101,175 (1,455,980) 766,389,316 472,026,063 124,839,851 (21,334,013) (7,080,550) 568,451,351 12,537,543 3,570,970 (23,872) (7,326) 16,077,315 57,999,523 6,268,521 (797,136) (2,764) 63,468,144 1,226,307,250 218,780,517 (22,155,021) (8,546,620) 1,414,386,126 9,411,739 9,411,739 15,713,295 20,736,118 (52,885) 36,396,528 903,488 (18,260) 885,228 26,028,522 20,736,118 (71,145) 46,693,495 674,332,382 84,101,175 (1,455,980) 756,977,577 456,312,768 104,103,733 (21,281,128) (7,080,550) 532,054,823 12,537,543 3,570,970 (23,872) (7,326) 16,077,315 57,096,035 6,268,521 (778,876) (2,764) 62,582,916 1,200,278,728 198,044,399 (22,083,876) (8,546,620) 1,367,692,631 2011 93

613,314,494 162,716,590 (6,564,617) (27,681) 769,438,786 479,355,255 210,885,579 (8,751,134) (6,506,224) 674,983,476 17,095,670 7,926,137 (2,639,079) (6,276) 22,376,452 118,942,533 13,374,119 (18,204,153) (2,092) 114,110,407 1,228,707,952 394,902,425 (36,158,983) (6,542,273) 1,580,909,121 65,472,029 21,818,845 (1,595,705) (504) 85,694,665 145,866,229 66,059,067 (6,595,862) (2,372,021) 202,957,413 9,870,085 2,482,021 (2,512,091) (1,106) 9,838,909 49,132,478 21,372,940 (14,394,003) (531) 56,110,884 270,340,821 111,732,873 (25,097,661) (2,374,162) 354,601,871 547,842,465 140,897,745 (4,968,912) (27,177) 683,744,121 333,489,026 144,826,512 (2,155,272) (4,134,203) 472,026,063 7,225,585 5,444,116 (126,988) (5,170) 12,537,543 69,810,055 (7,998,821) (3,810,150) (1,561) 57,999,523 958,367,131 283,169,552 (11,061,322) (4,168,111) 1,226,307,250 9,411,739 9,411,739 213,440 15,499,855 15,713,295 51,847 883,901 (32,260) 903,488 265,287 25,795,495 (32,260) 26,028,522 547,842,465 131,486,006 (4,968,912) (27,177) 674,332,382 333,275,586 129,326,657 (2,155,272) (4,134,203) 456,312,768 7,225,585 5,444,116 (126,988) (5,170) 12,537,543 69,758,208 (8,882,722) (3,777,890) (1,561) 57,096,035 958,101,844 257,374,057 (11,029,062) (4,168,111) 1,200,278,728 94

2011118,171,301 111,732,873 238,245,157 318,789,867 50,970,484 2,573,940 48,396,544 12 31 57,439,947 4,921,837 52,518,110 27,093,551 12 31 2,745,242 17 44,914,912 12 31 23,145,879 2011 95

142,302,406 27,218,934 (941,544) 168,579,796 42,746,306 9,587,561 (2,489,031) 49,844,836 197,507,656 ( 713,698) 196,793,958 382,556,368 36,806,495 (2,489,031) ( 1,655,242) 415,218,590 11,961,806 2,969,223 14,931,029 25,448,501 6,810,213 (1,903,197) 30,355,517 31,186,757 6,958,047 ( 154,150) 37,990,654 68,597,064 16,737,483 (1,903,197) ( 154,150) 83,277,200 130,340,600 24,249,711 (941,544) 153,648,767 17,297,805 2,777,348 (585,834) 19,489,319 166,320,899 (6,958,047) (559,548) 158,803,304 313,959,304 20,069,012 (585,834) (1,501,092) 331,941,390 131,627,620 131,627,620 131,627,620 131,627,620 130,340,600 24,249,711 (941,544) 153,648,767 17,297,805 2,777,348 (585,834) 19,489,319 34,693,279 (6,958,047) (559,548) 27,175,684 182,331,684 20,069,012 (585,834) (1,501,092) 200,313,770 96

142,302,406 142,302,406 40,214,028 6,472,086 (3,939,808) 42,746,306 95,233,312 134,821,687 (30,193,788) (2,353,555) 197,507,656 277,749,746 141,293,773 (34,133,596) (2,353,555) 382,556,368 8,236,794 3,725,012 11,961,806 20,193,699 8,248,989 (2,994,187) 25,448,501 25,551,949 19,735,821 (13,900,355) (200,658) 31,186,757 53,982,442 31,709,822 (16,894,542) (200,658) 68,597,064 134,065,612 (3,725,012) 130,340,600 20,020,329 (1,776,903) (945,621) 17,297,805 69,681,363 115,085,866 (16,293,433) (2,152,897) 166,320,899 223,767,304 109,583,951 (17,239,054) (2,152,897) 313,959,304 131,627,620 131,627,620 131,627,620 131,627,620 134,065,612 (3,725,012) 130,340,600 20,020,329 (1,776,903) (945,621) 17,297,805 69,681,363 (16,541,754) (16,293,433) (2,152,897) 34,693,279 223,767,304 (22,043,669) (17,239,054) (2,152,897) 182,331,684 16,737,483 31,709,822 2011 97

2007 2010 131,627,620 131,627,620 12 31 10,000,000 12 31 7,124,068 32,198,733 39,322,801 9,000,745 1,274,655 3,151,332 7,124,068 7.60% 12 31 9.84%) 98

61,039,505 (2,344,574) 58,694,931 64,704,508 (3,665,003) 61,039,505 5 15% 15% 5 2% 2% 12 31 2011 99

12 31 12 31 6,812,875 3,973,677 30,543,197 25,965,445 22,361,477 13,738,479 59,717,549 43,677,601 12 31 12 31 4,981,429 7,292,655 10,744,052 6,421,440 15,725,481 13,714,095 12 31 12 31 52,886,810 30,734,609 37,452,867 15,365,427 90,339,677 46,100,036 12 31 12 31 2012 2,288,491 2,288,491 2013 5,684,466 5,716,777 2014 7,679,935 8,179,479 2015 14,549,862 14,549,862 2016 22,684,056 52,886,810 30,734,609 100

12 31 12 31 45,419,162 25,795,495 203,621,314 173,097,239 142,524,303 84,761,761 391,564,779 283,654,495 19,925,715 27,009,833 42,976,207 23,783,112 62,901,922 50,792,945 12 31 12 31 38,268,244 39,378,500 8,595,484 3,461,405 50,325,133 39,378,500 2011 101

37,228,155 7,595,807 1,017,130 (4,705,592) (168,890 ) (56,690) 40,909,920 97,761,690 63,104,861 (17,883,559 ) (224) (975,194 ) 142,007,574 26,028,522 20,736,118 (71,145) 46,693,495 131,627,620 131,627,620 292,645,987 91,436,786 1,017,130 (22,589,151 ) (240,259 ) (1,031,884) 361,238,609 39,753,783 3,040,150 (1,540,520) (3,969,680) (55,578 ) 37,228,155 111,179,867 29,988,822 (38,965,458) (1,299,883) (3,141,658) 97,761,690 265,287 25,795,495 (32,260 ) 26,028,522 131,627,620 131,627,620 151,198,937 190,452,087 (40,505,978) (5,301,823) (3,197,236) 292,645,987 102

111,979,962 104,002,637 111,979,962 104,002,637 1 74,225,600 198,894,960 74,225,600 198,894,960 2 2,745,242 27,093,551 2,745,242 27,093,551 3 188,950,804 329,991,148 188,950,804 329,991,148 28,811,297 111,979,962 28,811,297 111,979,962 1 74,225,600 74,225,600 2 3,762,061 2,745,242 3,762,061 2,745,242 3 32,573,358 188,950,804 32,573,358 188,950,804 12 31 1 97,033,368 12 31 86,877,105 4,864,016 12 31 10,102,857 2,105,253 12 31 12 31 15,000,000 2 198,894,960 12 31 74,225,600 3 27,093,551 12 31 2,745,242 2011 103

12 31 12 31 139,000,000 6.56% 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 6 1651 4.77% 7 1951 3.18% 7 19 5 12 31 12 31 448,604,661 196,086,850 448,604,661 12 31 196,086,850 104

3 12 31 12 31 3 606,436,051 872,138,727 3 1 173,605,093 125,730,308 1 2 116,837,628 11,360,855 2 3 7,201,945 1,884,371 3 2,472,930 1,523,554 906,553,647 1,012,637,815 12 31 12 31 1 340,997,056 211,020,854 1 2 7,298,839 28,082,078 2 3 1,251,553 2,650,353 3 1,616,833 1,304,580 351,164,281 243,057,865 2011 105

2,117,048 445,514,777 445,487,947 (115,555) 2,028,323 385,472 42,012,496 42,397,968 943,237 111,241,795 107,194,738 (7,643) 4,982,651 56,601 15,949,128 15,898,920 106,809 100,070 5,787,079 5,681,758 205,391 237,716 56,888,703 56,911,554 (7,643) 207,222 413,435 23,094,734 19,255,686 4,252,483 119,002 5,346,637 5,279,243 186,396 9,566 2,683,391 2,688,331 4,626 6,847 1,492,123 1,479,246 19,724 82,701 27,742,144 27,793,128 31,717 1,923,590 19,863,019 17,257,630 4,528,979 2,227,981 11,608,038 9,785,542 (231,625) 3,818,852 7,680,029 657,982,269 649,916,953 (354,823) 15,390,522 6,976,938 347,018,669 351,762,448 (116,111) 2,117,048 340,752 38,349,389 38,304,669 385,472 7,320,962 74,161,460 80,531,812 (7,373) 943,237 48,854 11,717,132 11,709,385 56,601 4,108 4,182,992 4,087,030 100,070 81,900 35,951,028 35,787,839 (7,373) 237,716 7,160,137 16,010,408 22,757,110 413,435 15,120 3,626,829 3,522,947 119,002 4,575 1,750,549 1,745,558 9,566 6,268 922,522 921,943 6,847 67,250 19,256,389 19,240,938 82,701 1,894,651 11,766,754 11,737,815 1,923,590 4,135,668 9,133,956 10,890,087 (151,556) 2,227,981 20,736,221 499,686,617 512,467,769 (275,040) 7,680,029 12 31 106

12 31 12 31 186,065,253 140,909,386 79,259,339 9,641,221 619,874 264,562 11,058,496 15,555,451 9,581,204 5,466,410 286,584,166 171,837,030 12 31 12 31 12,250,820 6,845,833 218,149 12,468,969 6,845,833 12 31 12 31 1 113,951,595 56,507,933 1 2 16,824,580 27,344,537 2 3 1,578,478 17,387,183 3 2,244,630 2,266,506 134,599,283 103,506,159 2011 107

12 31 12 31 28 3,175,968 738,737 29 69,481,125 83,369,963 30 52,601,228 50,584,862 125,258,321 134,693,562 12 31 12 31 5,719 3,175,968 733,018 3,175,968 738,737 12 31 12 31 5,719 30,922,613 3,065,769 29,328,631 60,251,244 3,071,488 3,175,968 738,737 57,075,276 2,332,751 12 31 12 31 1 3,175,968 738,737 2 37,285,947 824,005 3 5 19,789,329 1,508,746 60,251,244 3,071,488 108

12 31 12 31 18,709,776 40,919,784 1,499,511 1,469,110 67,280,818 1,842,814 132,014,916 13,797,557 16,277,390 293,811,676 174,520,069 178,188,622 149,080,445 203,628,246 69,481,125 134,147,121 93,359,707 193,111,045 111,950,683 174,520,069 83,369,963 91,150,106 2011 109

12 31 12 31 89,923,075 34,969,987 12 31 12 31 92,429,987 36,526,899 50,094,316 49,027,950 142,524,303 85,554,849 52,601,228 50,584,862 89,923,075 34,969,987 (%) (%) 628,147,237 57.94 628,147,237 57.94 41,464,400 3.82 41,464,400 3.82 414,644,000 38.24 414,644,000 38.24 1,084,255,637 100.00 1,084,255,637 100.00 110

1,693,508,949 1,694,217,559 (708,610) 1,693,508,949 227,060,371 123,074,074 350,134,445 139,806,085 87,254,286 227,060,371 10% 50% 2011 111

1,487,852,295 936,008,253 1,184,442,891 850,528,177 123,074,074 87,254,286 330,697,969 211,429,849 2,218,523,143 1,487,852,295 6 10 1,084,255,63720100.305 330,697,969 7,073,432,172 5,840,982,468 51,342,802 45,871,767 7,124,774,974 5,886,854,235 4,564,397,550 3,688,169,538 34,295,550 20,187,968 4,598,693,100 3,708,357,506 7,108,782,733 5,857,287,879 330,810 6,097,716 5,936,523 6,400,082 9,724,908 17,068,558 7,124,774,974 5,886,854,235 112

26,087,779 6,140,369 18,729,069 3,539,782 875,078 23,860 45,691,926 9,704,011 3,990,000 5,420,000 5 11,319,861 2,899,689 21,304,987 6,845,833 1,718,400 32,624,848 11,463,922 8,994,322 7,991,970 (2,305,442) 8,471,679 6,017,113 6,148,037 27,342,197 18,091,668 2,890,215 1,499,630 45,221,302 (8,976,636) 20,736,118 25,795,495 131,627,620 68,847,635 149,946,109 2011 113

49,811,540 57,303,971 1,278,967 623,029 51,090,507 57,927,000 6,967,751 26,203,596 42,843,789 31,100,375 49,811,540 57,303,971 3,427,370 1,191,128 72,727,906 41,677,753 33,463,646 18,390,821 1,422,134 840,750 90,904 182,929 1,021,580 884,546 112,153,540 63,167,927 20,055,753 11,995,000 13,407,893 6,395,821 33,463,646 18,390,821 114

904,403 32,252,900 1,000 30,000 265,387 277,184 165,267 2,107,559 1,336,057 34,667,643 207,131,206 158,211,423 7,423 28,113 207,138,629 158,239,536 (13,252,704) (23,141,784) 193,885,925 135,097,752 1,380,922,211 987,159,415 25% 1 345,230,553 246,789,854 92,757 89,895 (139,601,672) (99,574,355) (7,471,731) (8,595,596) (11,326,065) (6,996,782) 22,591,015 27,305,854 (18,689,679) (21,324,225) 5,732,406 4,851,725 (132,964) (2,538,695) (7,448,618) 193,885,925 135,097,752 1: 2011 115

1,184,442,891 850,528,177 1,084,255,637 1,084,255,637 1.09 0.78 1.09 0.78 (12,416,819) (18,187,345) 116

1,187,036,286 852,061,663 68,847,635 149,946,109 118,171,301 111,732,873 16,737,483 31,709,822 (2,522,967) 31,061,772 34,624,848 8,171,426 (51,090,507) (57,927,000) (16,039,948) (22,849,406) 2,011,386 (1,321,460) (122,337,960) (689,448,157) (488,190,124) (287,386,540) 494,523,266 628,590,969 1,241,770,699 754,342,071 17,594 16,445 2,053,700,796 1,569,462,883 2,053,718,390 1,569,479,328 2011 117

(%) (%) 2,436,710,000 54.38 54.38 55,000,000 2,436,710,000 12 31 12 31 701,773,274 680,773,274 319,115,173 12 31 217,154,827 89,758,946 12 31 74,890,732 118

9 2011 119

120

2,585,787,603 1,426,849,208 1,473,096,827 1,874,700,820 359,975,601 312,510,611 39,142,666 433,550 34,816,031 27,751,546 28,097,367 17,780,566 19,413,203 23,422,317 17,179,726 4,341,045 10,989,573 7,392,440 5,949,053 7,850,931 4,960,680 6,299,590 4,913,675 1,515,635 374,851 931,205 32,479 494,962 11,333 602,480 686,273 34,450 729,516 2,168,972 1,761 698,200 599,250 28,034 30,427 146,201 355,921 157,186 416,362 204,492 55,150 6,038 563,015 27,692 608,124 4,590,427,381 3,714,707,257 2011 121

380,967,196 193,690,372 224,358,974 128,205,128 86,458,553 108,911,066 74,012,087 86,706,847 57,208,352 28,492,307 50,213,974 113,042,734 34,866,325 26,155,214 31,509,511 44,071,808 16,385,331 103,419 11,232,412 1,925,724 4,128,205 2,796,529 1,195,839 1,593,410 1,272,072 1,497,436 10,256 688,727 259,829 425,228 62,803 339,316 4,421,795 184,800 63,872 113,299 978,076,112 739,494,638 122,054 60,324 825,072 815,982 599,130 936,277 1,546,256 1,812,583 122

1,391,522 2,164,503 350,000 350,000 1,921,539 3,586,874 3,663,061 6,101,377 652,125 117,851 1,500,000 513,180 2,013,180 3,267,969 2,643,214 2011 123

2,211,118,124 144,826,780 103,290,000 39,600,000 10,388,949 5,060,000 1,700,000 2,515,983,853 10,247,968 27,339,070 2,360,125 8,352 25,317,374 529,060 6,806,216 4,391 38,221,709 1,630,000 112,464,265 124

12 31 12 31 27,231,380 97,855,312 1,116,884 531,903 498,614 262,786 3,151 17,061,819 14,434,745 23,092,702 334,993,249 40,020,283 197,904 11,059,375 6,042,252 2,800 1,443,750 1,762,483 418,508 49,050 2,958,585 5,347,535 15,813,310 3,084,240 502,600 148,000 622,925 47,710 199,350 60,000 223,980 16,557 115,743 1,409,729 1,374,500 428,990,633 181,013,081 2011 125

12 31 12 31 205,000,000 404,000,000 2,500,000 200,000 4,550,000 1,200,000 380,000,000 103,000,000 1,300,000 20,700,000 2,760,000 2,100,000 1,750,000 3,980,000 600,000 1,369,750 400,000 4,000,000 2,500,000 342,373 2,113,885 603,202,373 541,163,635 12 31 12 31 118,100 84,300 4,756 12,000 100,000 230,100 89,056 12 31 12 31 50,000 50,000 3,191,424 50,000 1,500 1,500 80,087 40,000 1,120 25,349 47,409 3,389,480 148,909 126

12 31 12 31 633,459 3,708,593 7,365,497 6,963,564 12,000 391,188 34,188 10,000 184,800 73,480 729,009 1,212,231 251,773 114,672 377,255 11,655,442 9,151,928 4,340,630 10,200,535 132,066 798,000 18,214,573 80,529,351 1,104,000 2,803,350 2,802,870 49,556,851 114,237,603 2011 127

12 31 12 31 4,257,700 2,700,000 1,295,000 200,000 480,000 7,022,300 58,900,000 73,080,000 1,775,000 12 31 12 31 33,919,600 145,200 85,706 230,906 33,919,600 12 31 12 31 23,292 4,850,000 4,850,000 23,292 14A 128

12 31 12 31 152,075,786 191,473,349 831,914,703 184,976,294 983,990,489 376,449,643 49,934,800 2012 3 29 1,084,255,637 0.340 368,646,917 11 1 1 5,861,413 5,478,818 1 2 2 4,611,695 4,440,891 2 3 3 1,537,232 4,611,695 3 1,537,232 12,010,340 16,068,636 2011 129

1 1 7,029,655 5,858,794 1 2 2 3,032,139 3,937,512 2 3 3 2,411,162 3,747,978 3 4,246,110 13,827,104 16,719,066 27,371,388 7,124,774,974 5,886,854,235 130

6,803,704,691 5,556,666,751 321,070,283 330,187,484 7,124,774,974 5,886,854,235 12 31 12 31 1,801,653,602 1,641,525,889 252,889,974 220,046,128 2,054,543,576 1,861,572,017 10%4,592,958,843 3,714,099,133 2011 131

2,157,721,027 1,051,609,300 1,119,253,348 103,373,942 1,092,595 310,000,000 1,772,676 4,744,822,888 139,000,000 500,000,000 448,604,661 906,553,647 12,468,969 134,599,283 60,251,244 2,201,477,804 132

1,681,459,290 791,448,692 901,235,717 26,649,880 4,049,142 3,404,842,721 500,000,000 196,086,850 1,012,637,815 6,845,833 103,506,159 3,071,488 1,822,148,145 2011 133

29.0% 12 31 11.0% 41.1% 12 31 28.0% 3 12 31 6 6 902,634,708 902,634,708 1,051,609,300 1,051,609,300 63,177,838 63,177,838 1,092,595 1,092,595 310,000,000 310,000,000 1,772,676 1,772,676 2,330,287,117 2,330,287,117 6 6 733,030,027 733,030,027 791,448,692 791,448,692 17,334,967 17,334,967 4,049,142 4,049,142 1,545,862,828 1,545,862,828 12 31 134

1 1-2 2-5 2,157,721,027 2,157,721,027 1,051,609,300 1,051,609,300 1,119,253,348 1,119,253,348 103,373,942 103,373,942 1,258,766 1,258,766 310,000,000 310,000,000 1,258,766 629,383 1,888,149 4,743,216,383 1,258,766 629,383 4,745,104,532 1 1-2 2-5 145,870,169 145,870,169 523,850,000 523,850,000 448,604,661 448,604,661 906,553,647 906,553,647 134,599,283 134,599,283 4,742,694 38,706,699 20,521,933 63,971,326 2,164,220,454 38,706,699 20,521,933 2,223,449,086 2011 135

1 1-2 2-5 1,681,459,290 1,681,459,290 791,448,692 791,448,692 901,235,717 901,235,717 26,649,880 26,649,880 1,258,766 3,146,915 4,405,681 3,400,793,579 1,258,766 3,146,915 3,405,199,260 1 1-2 2-5 515,900,000 515,900,000 196,086,850 196,086,850 1,012,637,815 1,012,637,815 103,506,159 103,506,159 1,074,964 1,053,322 1,687,288 3,815,574 1,829,205,788 1,053,322 1,687,288 1,831,946,398 +100 (1,590,508) -100 1,590,508 +100-100 * 136

+10% 23,074,064-10% (23,074,064) +10% (11,285,729) -10% 11,285,729 +10% 5,122,987-10% (5,122,987) +10% 183,082-10% (183,082) * 2011 137

* +10% 16,291,968-10% (16,291,968) +10% (9,576,758) -10% 9,576,758 +10% (1,828,131) -10% 1,828,131 +10% 2,510,687-10% (2,510,687) * 12 31 138

139,000,000 500,000,000 500,000,000 448,604,661 196,086,850 906,553,647 1,012,637,815 351,164,281 243,057,865 15,390,522 7,680,029 100,518,913 30,927,644 12,468,969 6,845,833 134,599,283 103,506,159 60,251,244 3,071,488 (2,053,718,390) (1,569,479,328) 614,833,130 534,334,355 5,316,660,857 4,472,947,015 5,931,493,987 5,007,281,370 10.4% 10.7% 2011 139

2,157,721,027 1,681,459,290 2,157,721,027 1,681,459,290 1,051,609,300 791,448,692 1,051,609,300 791,448,692 1,119,253,348 901,235,717 1,119,253,348 901,235,717 103,373,942 26,649,880 103,373,942 26,649,880 1,092,595 1,092,595 310,000,000 310,000,000 1,772,676 4,049,142 1,772,676 4,049,142 4,744,822,888 3,404,842,721 4,744,822,888 3,404,842,721 139,000,000 139,000,000 500,000,000 500,000,000 497,812,000 497,545,500 448,604,661 196,086,850 448,604,661 196,086,850 906,553,647 1,012,637,815 906,553,647 1,012,637,815 12,468,969 6,845,833 12,468,969 6,845,833 134,599,283 103,506,159 134,599,283 103,506,159 60,251,244 3,071,488 60,251,244 3,071,488 2,201,477,804 1,822,148,145 2,199,289,804 1,819,693,645 140

a) 12 31 3,618,521,720 3,213,603,704 2,802,631,249 2,321,813,707 5,734,555,521 5,361,648,611 4,711,930,009 4,363,035,485 b) 79,983,437 51,968,809 767,518 877,107 1,327,338 896,226 1,029,977 794,367 143,136 75,514 2,500,451 1,766,107 3,267,969 2,643,214 2011 141

400,228 519,900 35,784 955,912 400,228 519,900 35,784 955,912 59,643 59,643 313,228 114,200 35,784 463,212 59,643 313,228 114,200 35,784 522,855 71,429 71,429 214,286 214,286 214,286 214,286 1 32,526 32,526 71,429 71,429 603,956 603,956 260,728 171,877 35,784 468,389 353,154 224,000 35,784 612,938 2 32,526 32,526 2 32,526 32,526 3 38,867 38,867 103,919 613,882 395,877 71,568 1,185,246 767,518 1,327,338 1,029,977 143,136 3,267,969 142

15,874 15,874 290,832 365,956 19,989 676,777 306,706 365,956 19,989 692,651 11,905 11,905 9,921 9,921 9,921 9,921 59,643 59,643 24,340 81,600 2,221 108,161 91,390 24,340 81,600 2,221 199,551 71,429 71,429 214,286 214,286 214,286 214,286 71,429 71,429 71,429 71,429 642,859 642,859 7,935 7,935 239,248 97,377 26,652 363,277 315,219 249,434 26,652 591,305 71,429 71,429 2,778 2,778 71,429 71,429 142,858 565,180 346,811 53,304 1,108,153 877,107 896,226 794,367 75,514 2,643,214 2011 143

1 6 10 2 6 10 3 6 10 2011 1 4 5 5 5 3,861,957 4,272,464 771,505 979,686 195,532 217,171 4,828,994 5,469,321 0 1,000,000 2 3 1,000,001 2,000,000 1 1 2,000,001 2,500,000 1 1 4 5 2011 144

4,502,738,741 67,024,329 4,569,763,070 853,675,947 (1,614,284) 852,061,663 2005 1,187,800,514 764,228 2011 145

6 12 31 12 31 6 777,536,646 544,323,219 6 1 143,298,311 68,621,423 1 2 34,009,509 71,048,905 2 3 22,735,523 15,969,535 3 7,077,691 4,482,582 984,657,680 704,445,664 30,057,969 28,227,240 954,599,711 676,218,424 28,227,240 30,734,771 5,383,581 743,426 448,413 (3,955,767) (45,498) (3,250,957) 30,057,969 28,227,240 99,613,555 3,071,971 8 146

12 31 12 31 1 176,126,951 43,532,913 1 2 34,425,941 41,265,925 2 3 41,053,063 97,316,580 3 94,218,080 51,500 345,824,035 182,166,918 2,532,950 2,532,950 343,291,085 179,633,968 2,532,950 2,982,950 (450,000) 2,532,950 2,532,950 8. 2011 147

122,691,802 31,843,789 154,535,591 154,535,591 11,000,000 45,012,136 2,906,041 47,918,177 47,918,177 4,061,710 182,977,618 182,977,618 182,977,618 140,000,000 33,507,255 33,507,255 33,507,255 20,000,000 29,000,000 29,000,000 29,000,000 Times USA 3,187,516 3,187,516 3,187,516 34,561,157 34,561,157 34,561,157 20,000,000 3,000,000 3,000,000 3,000,000 160,000,000 160,000,000 160,000,000 3,000,000 3,000,000 3,000,000 15,000,000 3,000,000 18,000,000 18,000,000 Dynex 216,539,728 216,539,728 216,539,728 18,000,000 18,000,000 18,000,000 680,773,274 21,000,000 701,773,274 701,773,274 180,000,000 848,477,212 55,749,830 904,227,042 904,227,042 195,061,710 148

97,091,427 25,600,375 122,691,802 122,691,802 5,500,000 18,808,540 26,203,596 45,012,136 45,012,136 182,977,618 182,977,618 182,977,618 130,000,000 33,507,255 33,507,255 33,507,255 29,000,000 29,000,000 29,000,000 29,000,000 Times USA 3,187,516 3,187,516 3,187,516 34,561,157 34,561,157 34,561,157 3,000,000 3,000,000 3,000,000 60,000,000 100,000,000 160,000,000 160,000,000 3,000,000 3,000,000 3,000,000 15,000,000 15,000,000 15,000,000 Dynex 216,540,385 (657) 216,539,728 216,539,728 562,773,931 117,999,343 680,773,274 680,773,274 159,000,000 678,673,898 169,803,314 848,477,212 848,477,212 164,500,000 2011 149

6,284,383,470 5,047,391,175 70,674,747 48,694,350 6,355,058,217 5,096,085,525 4,159,774,837 3,255,926,549 56,242,953 25,948,093 4,216,017,790 3,281,874,642 49,811,540 57,303,971 180,000,000 159,000,000 1,278,967 579,609 231,090,507 216,883,580 150

1,230,740,732 872,542,863 81,068,240 148,858,400 84,614,801 82,935,372 9,934,686 19,555,995 (960,542) 30,030,775 33,274,313 9,077,613 (231,090,507) (216,883,580) (15,937,117) (23,540,919) (94,445,773) (653,522,833) (573,345,930) (274,092,631) 434,460,760 526,984,283 958,313,663 521,945,338 2011 151

82,146,847 95,382,983 18,663,682 5,621,171 Dynex 11,809,761 17,600,684 Times USA 10,714,235 6,522,704 6,312,490 6,100,543 2,632,586 1,493,018 2,077,906 2,515,324 33,781 30,961 2,585,787,603 1,426,849,208 1,471,167,015 1,871,390,427 359,975,601 312,510,611 39,142,666 433,550 34,509,385 27,285,493 28,005,795 17,652,650 16,993,957 21,378,001 16,266,906 1,059,267 10,989,573 7,392,440 4,901,940 6,213,778 2,897,844 2,098,376 1,483,156 513 729,516 2,168,972 698,200 599,250 260,600 256,700 204,492 157,186 416,342 146,201 355,921 494,962 11,333 34,450 1,761 6,038 27,692 608,124 4,714,636,729 3,828,585,442 152

87,117,098 49,522,380 71,788,808 65,155,574 Dynex 53,975,673 19,785,266 36,836,705 47,765,232 34,640,761 28,699,145 20,445,949 224,358,974 128,205,128 81,437,101 104,408,331 74,012,087 86,701,211 57,208,352 28,492,307 50,213,974 113,042,734 31,509,511 44,071,808 16,385,331 7,424,067 2,796,529 1,195,839 339,316 579,060 259,829 330,356 44,273 347,564 688,727 380,967,196 193,690,372 34,866,325 26,155,214 1,274,881,055 930,583,052 60,324 667,088 815,982 599,130 936,277 1,266,218 1,812,583 2011 153

1,391,522 2,164,503 1,921,539 3,586,874 3,313,061 5,751,377 534,274 117,851 1,500,000 513,180 2,013,180 154

12 31 12 31 113,221 526,164 21,575,516 8,055,661 3,585,998 192,939 5,127,492 684,671 1,629,523 6,576,766 2,942,929 Dynex 2,152,045 1,479,796 Times USA 6,877,584 3,797,991 27,163,931 96,758,912 1,100,164 506,303 480,000 17,061,819 3,151 14,434,745 23,092,702 334,993,249 39,985,982 192,630 47,710 60,000 223,980 10,982,291 5,919,640 366,753 162,352 2,958,585 5,347,535 15,175,260 253,637 148,000 611,325 199,350 29,800 1,409,729 469,199,245 195,788,586 2011 155

12 31 12 31 490,000 201,000,000 402,000,000 2,500,000 4,550,000 1,000,000 380,000,000 93,000,000 1,300,000 20,700,000 2,500,000 960,000 500,000 1,200,000 3,380,000 4,000,000 600,000 187,057 1,983,205 596,787,057 525,063,205 156

12 31 12 31 3,778,860 5,249,439 250,000 Dynex 15,123,309 16,139,020 10,000,000 118,100 84,300 12,000 4,756 20,502,848 30,256,936 12 31 12 31 99,741,660 99,741,660 35,551,299 25,551,299 34,860,000 53,130,000 40,380,000 30,500,000 Times USA 465,158 1,120 50,000 50,000 20,000 3,191,424 80,087 1,500 1,500 25,349 47,409 257,617,597 165,771,868 2011 157

12 31 12 31 22,444,672 26,101,674 308,269 37,330,635 44,981,635 5,441,679 Dynex 5,676,757 203,108 633,459 3,708,593 6,880,497 6,478,564 391,188 34,188 729,009 160,262 13,213 11,655,442 9,151,929 1,671,030 5,078,336 132,066 798,000 18,214,573 80,529,351 2,803,350 2,802,870 114,978,560 179,375,789 158

12 31 12 31 5,350,000 4,257,700 7,022,300 58,900,000 75,530,000 12 31 12 31 3,699 85,706 145,200 33,919,600 230,906 33,923,299 12 31 12 31 6,086,567 2,827,097 Dynex 6,346,848 773,519 773,519 4,850,000 23,292 18,056,934 3,623,908 2011 159

80% A H 55.06% 97.2% 100% Dynex Dynex Power Inc. dynex 75% Dynex Semiconductor Ltd. 60% 60% A H 160

50% 40%10% 30% 20% 50% 2011 161

1 Zhuzhou CSR Times Electric Co., Ltd. 2 3 412001 +86 731 2849 8028 +86 731 2849 3447 http://www.timeselectric.cn 18 11 1106 4 H 3898 5 183 17M 6 7 1 16 100738 162