2005... 1... 1... 2... 3... 6... 10... 11... 11... 14... 14... 18... 66 1

600221 2005

2005... 1... 1... 2... 3... 6... 10... 11... 11... 14... 14... 18... 66 1

2005 1 2 3 4 1 Hainan Airlines Co., Ltd. HNA 2 3 29 0898-66739961 0898-66739960 E-mailsh_zhang@hnair.com 29 0898-66739961 0898-66739960 E-mailgw_lv@hnair.com 4 168 29 570206 http://www.hnair.com webmaster@hnair.com 5 http://www.sse.com.cn 6 A A A 600221 B B B B 900945 7 2000 10 18 008368 1150805791 6 22 1

2005 : : -218,697,815-215,817,924-287,105,924 277,716,628 97,715,237-269,556,308-15,834,919 49,411,000 17,282,412 3,013,251,601 2,538,240,537 : : -215,818 90,649 1,428,639 2,712,976-27,703-49,378-201,065-173,366 - -41,378-28,149-270,730-312,108-12,370 45,535-46,389-34,019-2,061 871 8,895 10,956 - -44,218-20,323-24,969 - -430-430 -215,062 35,633 918,920 2,179,040 : : 32,639 38,895 165-1,384 973 71,288 2

2005 1-2004 : : 2005 2004 2003 (%) 10,061,468,423 8,410,538,692 19.63 5,372,091,313-218,697,815 76,514,150-385.83-1,242,202,407-215,817,924 90,648,787-338.08-1,052,291,380-287,105,924-124,816,213 130.02-1,049,179,976-0.30 0.12-338.08-1.44 % -7.96 6.35 225.37 21.13 130.02-79.86-10.58-8.74 % -79.62-0.39-0.17 % -1.44 3,013,251,601 3,194,243,082-5.67-644,977,250 4.13 4.37-5.67-0.88 2005 2004 (%) 2003 30,690,976,784 25,327,877,356 21.17 23,320,694,920 2,712,975,810 1,428,638,756 89.90 1,317,666,515 3.72 1.96 89.90 1.80 2.67 1.16 130.35 1.07 : : - 730,252,801 1,058,729,373 169,097,575 53,094,720 514,191,177 1,428,638,756 1,500,000,000 1,500,000,000 730,252,801 2,558,729,373 169,097,575 53,094,720-514,191,177 2,928,638,756 1 : (%) (%) 1 134,836,555 134,836,555 3

2005 17,289,355 17,289,355 117,547,200 117,547,200 2 38,735,280 38,735,280 3 4 173,571,835 173,571,835 1 371,957,765 371,957,765 2 184,723,201 184,723,201 3 4 556,680,966 556,680,966 730,252,801 730,252,801 2 (1) (2) (3) 1 : 125,247 (%) American Aviation LTD 14.80 108,043,201 0 11.85 86,549,000 79,844,400 8,320,000 6.83 49,904,680 46,619,280 47,890,000 2.37 17,289,355 17,289,355 0.89 6,480,000 6,480,000 4

2005 0.89 6,480,000 6,480,000 0.59 4,320,000 4,320,000 Naito securities co.ltd 0.45 3,272,128-169,640 0 0.44 3,240,000 3,240,000 2,970,000 2,970,000 American Aviation LTD 108,043,201 6,704,600 3,285,400 Naito securities co.ltd 3,272,128 1,745,600 1,339,792 1,231,426 1,150,848 1,036,800 1,034,090 10 2 1 American Aviation LDC Ronald O. Drake 50,000 1995 7 7 2 3 5

2005 3 : : 50,000 1998-04-26 : : ( ) 53 2003-05- 2006-05- 13 13 41,400 41,400 0 24.36 45 2003-05- 2006-05- 13 13 36,200 36,200 0 21.72 39 2003-05- 2006-05- 13 13 25,900 25,900 0 8 49 2003-05- 2006-05- 13 13 37,500 37,500 0 19.56 71 2003-05- 2006-05- 13 13 8 68 2003-05- 2006-05- 13 13 8 64 2003-05- 2006-05- 13 13 8 Ronald O. 50 2003-05- 2006-05- Drake 13 13 8 Iain Aitken 52 2003-05- 2006-05- 13 13 8 6

2005 2003-05- 2006-05- 47 13 13 29 2003-05- 2006-05- 13 13 31 2003-05- 2006-05- 13 13 55 2003-05- 2006-05- 13 13 54 2003-05- 2006-05- 13 13 45 2003-04- 2006-04- 12 12 58 2003-04- 2006-04- 12 12 43 2003-04- 2006-04- 12 12 35 2003-04- 2006-04- 12 12 35 2003-04- 2006-04- 12 12 / / / / / / 2.5 2.5 2.5 2.5 2.5 17.75 14.4 13.3 14.06 11.56 5 (1) : 1953 6 24 1984 1995 2004 APEC 1994 1996 1997 2000 2002 4 2004 2004 12 (2) 1961 12 15 (JBL) BOTS (3) 1967 3 24 1989 1999 MBA (4) 1957 3 18 (5) 1935 11 1 1951 1957 1962 1985 7

2005 (6) 1938 12 27 1956 1980 1980 1988 1995 (7) 1942 12 20 (8)Ronald O. DrakeRonald O. Drake 1956 6 5 American Aviation LDC (9)Iain AitkenIain Aitken 1954 11 18 ABN AMRO Bank NV( ) ABN AMRO Bank NV 2000 (10) 1959 2 1 2003 4 2006 4 (11) 1977 1 5 2003 4 2006 4 (12) 1975 2 15 2003 4 2006 4 (13) 1951 4 19 2003 4 2006 4 (14) 1952 2 25 2003 4 2006 4 (15) 1961 10 16 2003 4 2006 4 (16) 1948 2 28 2003 4 2006 4 (17) 1963 2003 4 2006 4 1986 (18) 1971 12 1 1995 1995 (19) 1971 12 13 2004 4-2006 4 8

2005 1998-04-16 1998-04-16 Ronald O. American Aviation Drake LDC Iain Aitken 1 2002 9,102 53 1 1,520 1,736 1,388 199 4,278 9

2005 2 101 2,813 2,968 3,220 1 2 3 4 5 6 7 1 8 8 8 8 8 8 1/3 10

2005 2 1) 2) 3) 4) 5) 1) 2005 5 30 2004 2005 5 31 1) 1 2005 5 24 2005 2005 5 25 11

2005 1 2005 100.61 19.63% 91.12 90.56% 3.1 3.11%, 6.25 6.21% 15.34 2005 1280.16 16.91% 16.22 13.11% 18.10 15.60% 13 B737-800 7 A319 6 12 95 B737 53 A319 6 B767 5 D328 29 DH4 2 30.13 1.81-37.82 7.13 33.06 27.18 2 (1) 18.3 26.50 4.32 264 51% (2) 7.5439 12.01 1.41-567 73.51% (3) 3.2 9.87 1.37 1025 92.51% 3 (1) " " 10% 2002 20 2004-2008 11% 2008 16020 WTO (2) 2006 1546.54 20% 19.91 22% 220742 23% (3) 2006 2006 68.6 12

2005 (4) 1 : : (%) % 10,061,468,423 8,211,652,702 15.25 19.63 28.98 27.57 2 : : () 5,242,591,350 20.6 2,650,498,836-0.25 1,201,050,204 69.23 40,555 796,938-95.15 A ( ) 2005 11 2006 1 24 2006 150,000 101,927 67.95% 47,073 31.38% 1,000 0.67% [2005]1-105 2005 11 18 B2005 2 8 20% 20% 1,200 5,800 (%) 31.38 1 2 13

2005 1 1) 2005 1 27 2005 1 28 2) 2005 4 21 2005 4 22 3) 2005 4 27 2005 4 28 4) 2005 4 29 2005 4 30 5) 2005 5 25 2005 5 26 6) 2005 8 29 2005 8 30 7) 2005 10 28 2005 10 29 8) 2005 12 23 2005 12 24 2 2005 5 24 2005 2005-21582 -21506 2005 12005 4 27 5 5 2004 2004 22005 8 30 5 5 2005 1 (1) 14

2005 : : () 18.74 0.00 30,450.07 1.14 960.72 0.04 2,823.17 0.11 3,482.71 0.13 1,388,754.00 0.21 1,240,895.50 0.25 1) 2) 3) 4) 5) 6) 7) 15

2005 (2) : : () 5,627.50 51.83 6,593.08 46.31 1) 2) 2 : : -4,951.86 4,000.00 1,571.46 15,501.06-114,135.50-69,335.78 19,875.37-18.82 14,239.94 51,236.05-261,364.00 505,220.75 69,560.00 333,680.00 10,000.00-14,898.70 6,385.23-5,000.00 5,000.00 312,391.26 5,550.35 1,063.80 1,656.05 4,398.79 4,723.67 / -329,745.08 855,942.02 263,265.67 106,886.48-329,745.08 263,265.67 2006 1 50 16

2005 647,967 600,722 47,245 2006 4 723,680 2006 12 31 1 6 2006 4 7.24 2004 2005 12 31 9 30 2005 2006 2006 1 60,072 2006 4 67,743 / / : : 2006-04-162006-2006-04-16 50,200 09-01 2005-12-312006-335 12-30 36,665 50,535 73,100 73,100 17

2005 122,786 (%) 1 50,535 50,535 161 1 1 215 1 1 () 2005 12 31 2005 18

2005 2005 12 31 2005 2006 4 28 19

2005 () 2005 12 31 : : : 2005 12 31 2004 12 31 2005 12 31 2004 12 31 1 5,792,487,997 3,149,786,832 3,430,324,735 907,111,360 2 30,000,000 - - - - - - - - - - - - - - - 3 422,641,761 282,625,854 7,402,711 531,880,423 3 1,913,348,852 1,954,827,569 2,611,108,388 1,522,130,407 4 110,631,861 462,772,715 100,501,927 411,732,171 - - - - 5 323,701,783 338,044,172 309,577,087 319,922,005 6 49,971,167 70,886,124 30,378,103 49,387,415 - - - - - - - - 8,642,783,421 6,258,943,266 6,489,292,951 3,742,163,781 7 858,444,018 837,493,008 2,055,557,404 2,066,078,093 - - - - 858,444,018 837,493,008 2,055,557,404 2,066,078,093 7 111,805,010 129,467,842 - - 24,635,678,949 19,272,480,883 15,952,931,105 14,527,202,810 5,245,916,183 4,200,977,802 3,250,143,251 2,477,441,785 8 19,389,762,766 15,071,503,081 12,702,787,854 12,049,761,025 25,259,499 18,311,409 24,378,237 16,378,237 19,364,503,267 15,053,191,672 12,678,409,617 12,033,382,788 - - - - 9 1,117,782,507 2,378,105,885 374,963,565 740,024,104 - - - - 20,482,285,774 17,431,297,557 13,053,373,182 12,773,406,892 10 14,271,976 14,674,004 - - 11 351,696,053 406,117,049 256,779,632 301,202,612 12 341,495,542 379,352,472 276,513,615 305,572,823 707,463,571 800,143,525 533,293,247 606,775,435 30,690,976,784 25,327,877,356 22,131,516,784 19,188,424,201 20

2005 2004 12 31 2005 12 31 2005 12 31 2004 12 31 13 4,854,388,029 3,308,284,166 2,116,388,029 1,365,564,166 14 817,433,490 642,436,548 654,795,763 391,672,180 15 1,533,233,355 967,918,901 1,482,462,917 1,214,890,287 27,579,232 24,588,746 22,132,009 22,132,009 23,459,318 14,226,670 22,483,154 13,694,820 3,840,802 4,185,160 - - 16 26,889,152 26,891,312 26,889,152 26,891,312 17 296,934,145 274,286,183 108,685,677 242,678,503 18 313,907,717 145,318,235 38,058,547 24,750,841 15 361,824,164 634,746,366 90,108,840 85,144,328 19 1,166,737,295 928,922,279 1,087,048,734 898,912,212 20 477,140,789 329,729,616 - - 12,762,948 5,648,383 - - - - - - 21 2,054,983,724 2,032,747,432 1,498,333,721 1,402,098,632 - - - - 11,971,114,160 9,339,929,997 7,147,386,543 5,688,429,290 22 13,326,240,757 11,514,594,187 10,631,972,795 10,028,757,737 - - - - 23 1,766,873,007 2,180,257,775 1,510,601,937 1,892,328,462 24 20,000,000 20,000,000 - - 25 143,113,207 135,020,140 113,329,882 135,020,140 21

2005 15,256,226,971 13,849,872,102 12,255,904,614 12,056,106,339 - - - - 27,227,341,131 23,189,802,099 19,403,291,157 17,744,535,629 26 750,659,843 709,436,501 - - 27 730,252,801 730,252,801 730,252,801 730,252,801 28 2,558,884,351 1,058,729,373 2,558,884,351 1,058,729,373 29 169,097,575 169,097,575 169,097,575 169,097,575 : 53,094,720 53,094,720 53,094,720 53,094,720 - - -15,249,816 15,249,816 - - 30-730,009,101-514,191,177-730,009,100-514,191,177 2,712,975,810 1,428,638,756 2,728,225,627 1,443,888,572 30,690,976,784 25,327,877,356 22,131,516,784 19,188,424,201 : : 22

2005 : : : 2005 1-12 2005 2004 2005 2004 31 10,061,468,423 8,410,538,692 5,242,591,350 4,346,952,816 8,211,652,702 6,366,330,309 4,262,318,357 2,972,864,419 32 315,450,723 273,204,272 156,566,278 142,020,895 1,534,364,998 1,771,004,111 823,706,715 1,232,067,502 33 97,715,237 76,931,186 66,135,427 57,777,240 585,248,011 538,283,866 288,186,399 295,287,849 497,436,977 421,947,769 278,782,549 265,839,264 34 818,951,555 794,490,678 571,295,198 582,083,998-269,556,308 93,212,984-248,422,004 146,633,631 - - - 35 15,834,919 16,667,047 9,840,243-60,957,365 36 49,411,000 13,566,646 23,122,000 8,203,646 37 39,531,134 2,040,620 36,943,772 512,721 37 22,248,722 15,639,053 17,621,448 3,743,846 - -218,697,815 76,514,150 215,817,923 90,648,787 10,091 4,924,546 - - - 2,889,982-19,059,183 - - + - - - - -215,817,924 90,648,787-215,817,923 90,648,787-514,191,177-604,839,964-514,191,177-604,839,964 - - - - -730,009,101-514,191,177-730,009,100-514,191,177 23

2005 - - - - - - - - -730,009,101-514,191,177-730,009,100-514,191,177 - - - - - - - - - - - - - - - - -730,009,101-514,191,177-730,009,100-514,191,177 : : : : : 2005 1-12 10,117,492,386 5,212,373,413 34,404,896 5,600,000 38 11,039,818,607 10,516,651,016 21,191,715,889 15,734,624,429 4,481,482,070 1,787,737,088 702,009,717 271,775,929 477,143,247 276,282,819 39 12,517,829,254 11,620,417,334 18,178,464,288 13,956,213,170 3,013,251,601 1,778,411,259 75,700,000 0 61,200,000 0 1,630,378 835,425 2,958,427 829,760 0 0 80,288,805 1,665,185 3,831,991,904 1,101,202,909 30,000,000 0-41,368 0 24

2005 83,483 0 3,862,075,387 1,101,202,909-3,781,786,582-1,099,537,724 1,517,004,801 1,500,000,000 8,639,153,317 3,965,153,317 620,414,560 436,953,764 10,776,572,678 5,902,107,081 5,148,348,743 2,531,066,518 1,008,005,089 741,439,565 40 1,313,443,328 852,221,788 7,469,797,160 4,124,727,871 3,306,775,518 1,777,379,210 0 0 2,538,240,537 2,456,252,745 : () 2005 - - - - 1-215,817,924-215,817,924 * -2,889,982 0 * 0 0 65,984,558 61,819,685 1,092,227,418 779,336,425 402,027 0 147,723,235 128,491,979 20,914,957 19,009,312 237,815,016 188,136,522 2,073,903 3,259,948 1,639,222 0 818,951,555 571,295,198 15,834,919 9,840,243 0 0 14,342,389 10,344,918 25

2005 788,881,723-75,788,942 25,168,585 298,483,895 0 0 3,013,251,601 1,778,411,259 2 0 0 0 0 0 0 0 0 3 5,617,920,078 3,293,256,814 3,079,679,541 837,004,069 0 0 0 0 2,538,240,537 2,456,252,745 () 2005 1 1 2005 12 31 1 1992 9 [1992]18 [1992] 639 13,340,552, 24 1993 1 8 250,100,000 250,100,000 21994 3 1993 50,020,000 300,120,000 31993 5 [1993]17 96,059,448 STAQ STAQ 115,271,337 26

2005 41995 11 2 [1995] 615 0.25 100,040,001 25,000,000 207,905,000 100,040,001 70,177,849.79 1996 11 400,160,001 51997 4 18 [1997]24 1997 6 B 7,100 0.47 33,370,000 276,690,000 71,000,000 186,822,000 6 [1999]129 A 20,500 4.6 943,000,000 205,000,000 708,745,226 72000 5 18 1999 1999 67,616 10 0.8 1.00 ( ), 5,409.28 ( 1 ) 6,761.6 730,252,801 8 2004 4.5% 7.3% 11.9% 5% 9 2005 12 31 7.30 33.28 8 365 28 27

2005 1 1 12 31 6 28

2005 7 1 2 3 8 1 0% 12 5% 23 10% 34 30% 45 50% 56 80% 6 100% 29

2005 9 10 1 a 20% 20%20% 20%20% 20% b 10 10 10 10 2003 3 17-2 11 1 2,000 30

2005 5 40 10 20 10 15 7 10 8 14 1 2 3 12 1 2 31

2005 2 3 13 1 2 3 14 1 2 10 3 1) 2) 3) 32

2005 15 1 1 3-7 16 17 18 19 20 199511 962 51% 33

2005 1 1 [1988]27 2005 15% 2 (a) 2005 15% (b) 2005 15% (c) 2005 33% d 2005 33% e 2005 33% f 2005 15% 2 6% 3% * 7% * 3% 34

2005 * [2004]987 2004 10 1 3 2005 12 31 A B C 8,000,000 7,600,000 95% 1,020,408 502,408 51% 1,830,000,000 933,300,000 60% D 754,390,000 554,563,300 73.51% E 320,000,000 285,000,000 92.51% F 120,000,000 61,200,000 51% G 25,000,000 20,000,000 80% H 1,500,000 1,050,000 70% A 95% B 51%49% 35

2005 C 18.3 9.333 51% 2001 8 31 2001 9 1 2002 12 9% 60% 40% D 754,390 200,000 26.51% 2001 10 31 2001 10 30 47% 354,563 73.51% 13.84% 12.65% E ( ) 3.2 28,500 89.06% 2,000 6.25% 1,500 4.69% 2002 9 30 F 2002 9 29,990 15,294.9 51% 2002 11 29 2004 5 21 45,905 27,100 17,005 29,990 120,000 61,200 51% 58,800 49% G 2003 5 25,000 20,000 80% 5,000 20% H 2004 10 21 150 36

2005 30%70% 2004 11 30 920040 006 1. 2005 12 31 2004 12 31 1,557 1,243 3,407,933 1,459,788 2,382,998 1,688,756 5,792,488 3,149,787 2005 12 31 2,762,413 48% 2005 12 31 2,208,430 174,568 133,068 41,500 214,326 2005 12 31 81,359 8.0702 656,582 152 1.0403 158 185,001 3,809 266,512 660,549 2. 2005 12 31 2004 12 31 30,000 0 0 0 30,000 0 0 0 30,000 2005 5 2006 5 6.138% 37

2005 3. 1 2005 12 31 2004 12 31 1 392,380 89 197,456 66 12 22,430 5 78,708 26 6 23 7,385 2 35 3,400 1 29 3 19,226 4 18,744 21,643 7 18,546 441,421 100 18,779 301,207 100 18,581 133,899 30%, 5% 5% 397 2 2005 12 31 2004 12 31 1 1,156,504 55 2,998 1,192,579 57 3,451 12 325,564 15 5,453 256,495 12 20,969 23 94,475 5 13,606 511,151 24 82,113 3 532,325 25 173,462 138,697 7 37,561 2,108,868 100 195,519 2,098,922 100 144,094 1,057,236 50% 2005 12 31 2004 12 31 5% 5% 12,893 38

2005 3 2005 12 31 4,292 1 100% 4,292 11,799 4-5 100% 11,799 4,930 4-5 100% 4,930, GE Capital Aviation Service 14,176 5-6 100% 14,176, 6,302 2-3 100% 6,302 10,198 1-2 100% 10,198 PRATT&WHITNEY CANDA ADA COPRATION 17,443 3-4 100% 17,443 4. 2005 12 31 2004 12 31 1 31,091 28 281,682 61 12 13,257 12 108,058 23 23 38,320 35 40,179 9 3 27,964 25 32,854 7 110,632 100 462,773 100 2005 12 31 2004 12 31 76% 92,610 84% 5% 5% 5. 2005 12 31 2004 12 31 293,067 5,115 311,356 5,115 9,098 83 9,366 83 10,754 0 13,403 0 15,981 0 9,118 0 328,900 5,198 343,243 5,198 39

2005 6. 2005 12 31 2004 12 31 48,674 70,075 1,297 811 49,971 70,886 7. 1 2005 12 31 2004 12 31 320,835 282,221 440,579 440,578 761,414 722,799 38,373 45,145 5,759 6,747 67,672 77,576 14,774 14,774 858,444 837,493 2 2005 2004 12 31 12 31 28,775 28,865 48% 0 9,498 8,113 30% 0 18,419 19,694 44% 0 59,764 62,652 40% 0 2,886 2,764 30% 0 2,461 2,360 49% 0 0 5,469 20% 0 C 0 1,049 20% 0 C 2,574 2,210 25% 0 39,040 39,744 40% 0 784 992 50% 0 8,000 8,000 54.70% 8,000 A 101,561 100,309 33.33% 0 47,073 0 31.38% 0 B 320,835 282,221 8,000 ( ) 58,161 58,161 19% 0 15,000 15,000 15% 0 40

2005 3,274 3,274 3.30% 0 6,906 6,906 2.20% 0 29,860 29,860 3.39% 0 5,000 5,000 0.30% 5,000 10,000 10,000 2% 0 5,000 5,000 1.60% 0 304,765 304,765 16.48% 0 2,613 2,612 1,774 440,579 440,578 6,774 761,414 722,799 14,774 A B ( ) 2005 11 2006 1 24 2006 150,000 101,927 67.95% 47,073 31.38% 1,000 0.67% [2005]1-105 2005 11 18 C2005 2 8 20% 20% 1,200 5,800 3 2005 12 31 50,000-19,517-1,708-21,225 28,775 3,000 0 6,498 6,498 9,498 22,000 0-3,581-3,581 18,419 11,269 62,119-13,624 48,495 59,764 3,000 0-114 -114 2,886 3,312 0-851 -851 2,461 5,800-5,800 0-5,800 0 1,038-1,038 0-1,038 0 5,082 0-2,508-2,508 2,574 40,545 0-1,505-1,505 39,040 2,750 0-1,966-1,966 784 41

2005 8,000 0 0 0 8,000 100,000 0 1,561 1,561 101,561 47,073 0 0 0 47,073 302,869 35,764-17,798 17,966 320,835 4 2004 2005 12 31 12 31 68,109 45,145 0 6,772 38,373 9,878 6,747 0 988 5,759 99,033 77,576 0 9,903 67,673 177,020 129,468 0 17,663 111,805 8. 1 2004 12 31 1,841,189 9,336,778 5,241,315 210,572 193,371 313,568 2,135,688 19,272,481 268,791 4,851,231 181,274 1,381 23,809 43,552 207,361 5,577,399 : 263,606 4,496,596 398 21,881 4,782,481 6,949 182,424 8,320 16,508 214,201 2005 12 31 2,103,031 14,188,009 5,240,165 211,953 208,860 340,612 2,343,049 24,635,679 2004 12 31 179,692 1,356,469 1,492,557 156,797 86,729 116,460 812,274 4,200,978 48,878 538,886 270,732 20,343 17,895 33,091 165,670 1,095,495 1,452 36,932 3,258 8,915 50,557 2005 12 31 227,118 1,895,355 1,726,357 177,140 101,366 140,636 977,944 5,245,916 2004 12 31 1,661,497 7,980,309 3,748,758 53,775 106,642 197,108 1,323,414 15,071,503 2005 12 31 1,875,913 12,292,654 3,513,808 34,813 107,494 199,976 1,365,105 19,389,763 268,790 42

2005 4,821,109 5 B737-800 6 A319 3 2005 10 182,424 3,258 2 Dornier328 207,361 2005 12 31 1,144,915 1,031,069 7,818,155 6,854,792 5 74,550 62,866 2005 12 31 238,213 (2006)02 2006 05 2 2004 12 31 2005 12 31 1,389 8,000 1,052 8,337 16,378 0 0 16,378 130 0 0 130 400 0 0 400 14 0 0 14 18,311 8,000 1,052 25,259 2005 8,000 2005 1,052 43

2005 9. 1 2005 12 31 2004 12 31 784,815 1,544,169 339,830 834,437 1,124,645 2,378,606 6,862 500 1,117,783 2,378,106 2 2004 2005 12 31 12 31 737-800 924,679 1,559,555 2,050,800 433,434 Dornier328 20,723 0 0 20,723 A319 598,767 1,688,042 2,060,318 226,491 787 0 104,167 0 104,167 0 149 149 0 1,544,169 3,351,913 4,111,267 784,815 3 2004 2005 12 31 12 31 800 GENESYS 0 1,470 0 0 1,470 PROS 2,342 495 0 0 2,837 4,748 12,178 16,926 0 0 39,887 29,772 69,320 339 0 301,430 0 0 0 301,430 B 451,292 21,721 470,287 0 2,726 A 7,877 45,702 53,579 0 0 500 0 0 0 500 26,361 13,208 8,702 0 30,867 834,437 124,546 618,814 339 339,830 A 3 3 355,208 44

2005 B 451,760 2006 12 31 C 62,387 A319 5.91% 737-800 5.73% 4 2004 2005 12 31 12 31 500 0 0 500 Dornier328 0 6,362 0 6,362 500 6,362 0 6,862 10. 16,081 2004 12 31 14,674 0 402 1,809 2005 12 31 14,272 35 11. 2004 2005 12 31 12 31 28,295 873 15,855 0 13,313 208,922 1-5 195,609 314,029 91,567 109,056 7,510 289,030 610,059 1-7 313,519 17,737 0 1,093 0 16,644 26,587 24 9,943 8,313 0 381 0 7,932 9,760 21 1,828 37,743 8,372 21,338 24,777 154,993 1-6 130,216 406,117 100,812 147,723 7,510 351,696 1,010,321 651,115 45

2005 12. 2004 2005 12 31 12 31 Sumisho Aircraft Asset Management B.V 45,232 0 8,218 0 37,014 65,744 4.5 28,730 Mc.Aviation FinancialServi 45,457 0 8,157 0 37,300 65,264 4.5 27,964 ces Europe B.V -1,447 0-81 0-1,366-1,616 17-250 43,047 0 6,510 0 36,537 53,616 0.5-7.5 17,079 33,243 0 3,961 0 29,282 39,844 7.5 10,562 213,820 0 11,091 0 202,729 235,055 2-17 32,326 379,352 0 37,856 0 341,496 457,907 116,411 13. 2005 12 31 2004 12 31 530,000 100,000 5.05% 442,000 400,000 5.86% 3,233,000 2,359,049 5.022%-5.58% 506,779 422,500 4.72%-5.58% 112,609 26,735 5.59% 30,000 0 8.3% 4,854,388 3,308,284 362,000 80,000 46

2005 2,172,000 731,000 300,000 30,000 136,000 332,560 160,000 1.3 210,779 5,015 107,594 30,000 14. 2005 12 31 2004 12 31 701,433 371,672 116,000 270,765 817,433 642,437 5% 5% 15. 1 2005 12 31 1,533,233 2004 12 31 967,919 5% 5% 92,003 2 2005 12 31 361824 2004 12 31 634,746 2005 12 31 187,000 5% 5% 14,306 47

2005 16. 2005 12 31 2004 12 31 21,011 21,013 5,878 5,878 26,889 26,891 17. 2005 12 31 2004 12 31 288,226 210,649 27,695 16,881 2,988 1,200-1,766-2,081-21,841 40,888 1,632 6,749 296,934 274,286 18. 2005 12 31 2004 12 31 140,052 69,949 2,947 2,906 170,909 72,463 0 0 313,908 145,318 2005 12 31 2004 12 31 168,590 2005 12 31 [2004]51 2004 9 1 48

2005 19. 2005 12 31 2004 12 31 271,399 362,469 391,530 358,559 20,525 45,439 47,051 31,408 282,159 34,737 66,284 40,943 10,000 10,870 61,318 39,955 16,471 4,542 1,166,737 928,922 20. 2005 12 31 477,141 21. 2005 12 31 2004 12 31 (1) 1,529,199 1,521,720 (2) 589,171 589,423 2,118,370 2,111,143 63,386 78,396 2,054,984 2,032,747 1 2005 12 31 2004 12 31 269,968 180,000 425,178 341,336 450,000 242,415 384,053 575,076 1,529,199 1,338,827 0 182,893 0 182,893 1,529,199 1,521,720 49

2005 450,000 102,211 160,000 BSP 121,842 2 2005 12 31 Raytheon 11.5 82,880 0 6,480 5-10 885,860 40,069 128,399 6 24,309 0 6,295 Sino-America Aviation 11.5 1,437,975 0 185,349 3 37,111 0 8,963 2-3 231,105 412 83,364 StructuredTradeFinance Group 11-13 1,176,864 7,199 77,686 2-4.5 290,000 8,445 62,777 6 145,264 7,261 29,858 4,311,368 63,386 589,171 22. 2005 12 31 2004 12 31 1,272,079 114,436 2,516,790 7,224,681 2,443,667 1,994,350 7,089,738 954,662 13,322,274 10,288,129 3,967 1,226,465 3,967 1,226,465 13,326,241 11,514,594 90,000 2,443,667 50

2005 320,000 BSP 884,361 2,302,224 3,583,153 23. 1 2005 12 31 2004 12 31 395,755 463,709 283,694 402,083 1,263,467 1,572,256 1,942,916 2,438,048 176,043 257,790 1,766,873 2,180,258 2 2005 12 31 Raytheon 11.5 82,880 0 46,636 5-10 885,860 153,384 648,614 Sino-America Aviation 11.5 1,437,975 0 959,772 3 37,111 0 8,963 StructuredTradeFinance 11-13 1,176,864 1,440 36,683 Group 2-4.5 290,000 7,280 116,940 6 145,264 13,939 125,308 4,055,954 176,043 1,942,916 24. 2005 12 31 20,000 2001 12 [2001]1239 25. 2005 12 31 143,113 2006 51

2005 26. 2005 12 31 1,520,761 40% 608,304 279,656 26.49% 74,081 257,127 6.25% 16,077 119,631 5% 5,982-29,902 49% -14,652 1,573 30% 472 113,819 49% 55,771 23,126 20% 4,625 750,660 27. 1 2004 2005 12 31 12 31 1 134,837 0 134,837 17,289 0 17,289 2 38,735 0 38,735 3 0 0 0 173,572 0 173,572 1 371,958 0 371,958 2184,723 0 184,723 556,681 0 556,681 730,253 0 730,253 28. 2004 2005 12 31 12 31 965,745 0 965,745 11,056 0 0 11,056 61,605 0 0 61,605 18,091 0 0 18,091 2,232 155 0 2,387 0 1,500,000 0 1,500,000 1,058,729 1,500,155 0 2,558,884 52

2005 200550, 28 2005 10 2 7.5 15 2005001 28 15 15 29. 2004 12 31 2005 12 31 115,003 0 0 115,003 54,095 0 0 54,095 169,098 0 0 169,098 30. 2005 12 31 2004 12 31-514,191-604,840-215,818 90,649 0 0 0 0 0 0 0 0 0 0-730,009-514,191 31. 2005 2004 9,125,754 7,707,738 312,126 261,998 623,588 404,710 0 36,093 10,061,468 8,410,539 32. 2005 2004 301,591 251,907 9,070 14,579 4,388 6,103 402 615 315,451 273,204 53

2005 33. 2005 2004 32,157 27,218 4,048 2,929 1,317 21,375 23,792 19,504 18,930 0 8,074 0 3,052 0 268 0 6,077 5,905 97,715 76,931 34. 2005 2004 929,915 766,081 17,823 10,779 152,522 10,111 59,382 49,300 818,952 794,491 35. 2005 2004 A 1,385 2,471 A -91-86 A -1,276-1,472 A 365 441 A 162 179 A 502-670 A 3,361 2,089 B 0-2,052 B 395 5,472 B 835 756 B 168 205 B 0 8,363 C 540 0 D -23,699-23,324-6,772-6,772-988 -988-9,903-9,903-865 -490 54

2005-3,391-3,391-1,780-1,780 0-8,000 1,518-1,039-15,835-16,667 A B C D 36. 2005 2004 1,000 13,167 42,811 0 5,600 400 49,411 13,567 1,000 2005 11,730 2004 4,792 9,031 2004 2005 17,258 2004 2,240 2004 3,360 37. 1 2005 2004 2,069 1,015 496 334 1,610 179 34,840 516 513 39,531 2,041 55

2005 2 2005 2004 3,708 9,497 8,000 5,168 6,362 0 0 7 4,000 0 179 967 22,249 15,639 4,000 38. 2005 1-12 10,990,182 49,637 11,039,819 39. 2005 1-12 474,437 12,073,513 12,547,950 40. 2005 1-12 1,313,443 1,313,443 1 1 2005 12 31 2004 12 31 1,573,584 1,584,464 70,201 69,842 420,382 420,382 56

2005 2,064,167 2,074,688 8,610 8,610 2,055,557 2,066,078 2 2005 2004 12 31 12 31 113,649 113,649 95.00% 950,830 956,021 60.00% 211,334 216,487 73.51% 296,670 297,297 89.06% 1,101 1,010 70.00% 1,573,584 1,584,464 28,775 28,865 48.00% 9,498 8,113 30.00% 19,114 19,407 20.00% 9,204 9,847 22.00% 3,610 3,610 54.70% 70,201 69,842 ( ) 58,161 58,161 19.00% 3,274 3,274 3.30% 6,906 6,906 2.20% 15,000 15,000 15.00% 17,000 17,000 1.93% 5,000 5,000 0.30% 10,000 10,000 2.00% 304,765 304,765 16.48% 276 276 420,382 420,382 2,064,167 2,074,688 3 2005 12 31 8,000 0 105,649 105,649 113,649 927,571 161,177-137,919 23,258 950,829 553,575 0-342,241-342,241 211,334 275,097 0 21,573 21,573 296,670 1,050 0 51 51 1,101 57

2005 50,000-19,517-1,708-21,225 28,775 3,610 0 0 0 3,610 3,000 0 6,498 6,498 9,498 19,505 0-391 -391 19,114 11,000 0-1,795-1,795 9,205 1,852,408 141,660-350,283-208,623 1,643,785 2 2005 2004 A 1,582 12,477 A -4,170-103,800 A 9,126 37,715 A 1,385 2,471 A -642-736 A -293-98 A -91-86 A 91-40 B 0-2,052 B 0 3,249 B 835 756 B 0 39 B 0 10,421 C -17,663-17,663-6,772-6,772-988 -988-9,903-9,903 0-3,610-9,840-60,957 A B C D 58

2005 1 2005 12 31 2004 2005 2004 12 31 12 31 12 31 500,000 500,000 11.9% 11.9% 8,000 8,000 95% 95% 1,020 1,020 51% 51% 1,830,000 1,830,000 60% 60% 754,390 754,390 73.51% 73.51% 320,000 320,000 92.51% 92.51% 1,500 1,500 70% 70% 120,000 29,990 51% 51% 25,000 25,000 80% 80% 59

2005 ( ) 1 590,729 417,888 395,355 291,059 0 10,471 0 50,000 2,112,500 1,959,126 343,925 333,680 2,409 2,739 0 79,990 490,774 476,170 71,250 9,208 1,221,682 1,171,077 5,228,624 4,801,408 60

2005 2 2005 2004 54,366 34,000 34,719 18,379 61,200 40,000 A 27,137 37,158 175,603 0 B 17,799 15,429 86,054 80,876 117,951 0 C 84,359 100,386 8,870 0 309,771 249,408 18,396 10,758 16,685 0 13,887,540 4,673,667 D 12,408,955 3,389,839 D 7,000 0 E 0 11,327 0 22,500 0 201,600 1,972 3,008 F A 61,200 B 2005 12 23 19,650 1 18,477 C 2005 12 26 22,700 1 2005 10,764 D 2004 2005 E2005 2 8 20% 20% 1,200 5,800 61

2005 F 3-2 4 2005 12 31 2004 12 31 2,762,413 1,283,828 18,867 17,769 397 9,000 9,000 0 67,161 0 95,425 26,769 0 174,898 3,272 99,442 0 39,683 0 15,815 0 5,217 2,125 532 5,397 335,587 348,024 326,500 333,680 294,120 0 181,144 12,893 99,659 108,275 70,263 141,708 39,116 88,966 3,034 8,870 0 24,673 21,560 20,879 20,444 79,989 91 6,385 21,284 5,000 10,000 117 56,073 62

2005 24,265 13,876 1,203,724 1,157,164 74,336 98,973 38,575 89,223 92,003 67,933 53,989 54,284 36,668 27,628 21,989 26,015 30,294 9,916 24,375 49,046 52,500 0 16,638 4,541 61,200 0 8,568 0 15,728 6,309 526,863 433,868 0 273,000 32,013 42,003 31,782 30,504 6,328 0 20,818 21,627 14,306 18,387 772 2,588 0 33,000 10,000 123 6,438 0 11,700 0 6,447 4,922 140,604 426,154 100,000 0 16,000 0 116,000 0 0 21,720 63

2005 82,952 60,913 0 17,128 30,000 0 1 5,400 2005 12 31 2 2005 12 31 505,350 731,000 35,000 1 2005 12 31 13,418,670 11,715,050 1,703,620 1,719,908 2006 2006 1,020,220 2005 12 31 2 2005 12 31 2004 12 31 600,907 673,599 533,571 540,986 489,406 481,511 1,298,739 1,533,046 2,922,623 3,229,142 64

2005 2006 1 24 8 365 2006 1 50 647,967 600,722 47,245 2006 4 723,680 1-2004 2005 32,639 0 38,895 0 0 165-1,384 0 973 0 0 0 0 0 71,288 65

2005 1998 1 1 10 1998 1 1 1998 12 31 8 1999 1 1 2003 4 3 5 2 2003 5 1 12 31 SARS 2004 4 1 [2004]38 [2004]94 2004 4 1 2004 2003 4 950,534 1994 11 [1994]77 1996 10 18 [1996] 132, 2005 3 24 2006 03 2005 57% 97% 2.10 2.10-10% -17% -0.37-0.37-8% -14% -0.30-0.30-11% -18% -0.39-0.39 66

2 < > 2005 2005 2005 12 31 50535 731,000