2 6 10 14 20 36 38 40 46 49 50 54 60 95 96

2

3

4

5 34% 20%

1,235,272 816,833 819,725 1,272,256 52,109 1,185,700 42,639 6,933 1,301,452 (65,246) 2,272,515 1,308,949 854,445 1,270,605 1,298,842 (63,256) 6

2002 816,833 780,864 13,613,202 13,453,721 30,462 36,920 67,382 36,920 35,320 30,730 (1,582,832) (1,618,152) (16,838) 16,838 (8,237) (8,237) (10,877) (14,351) (25,228) (14,351) (7,077) 7,077 7,077 9,067 9,067 654,907 629,718 (2,445) 854,445 841,240 12,728,261 12,503,534 7

2002 2001 20,059 13,131 8,529 7,297 (13,126) (11,683) (14,680) (14,299) 163,430 163,430 (11,249) (11,249) (6,026) (6,026) 1,424 3,235 4,018 4,299 (2,892) (6,566) 155,271 154,701 2002 2001 2000 1999 1998 2,026,238 1,625,992 1,381,696 1,138,385 1,013,037 816,833 780,864 691,486 604,868 542,775 15,081,793 14,914,400 15,057,227 14,519,176 14,098,258 1,072,088 1,329,334 1,608,363 1,899,271 1,694,154 396,503 131,345 129,451 129,453 127,500 13,613,202 13,453,721 13,319,413 12,490,452 12,276,604 0.16 0.16 0.14 0.12 0.11 2.70 2.67 2.64 2.56 2.51 2.70 2.67 2.64 2.56 2.51 0.26 0.22 0.20 0.18 0.17 6.0% 5.8% 5.2% 4.8% 4.4% 5.9% 5.7% 5.4% 4.8% 4.4% 8

2002 2001 2000 1999 1998 2,272,515 1,829,552 1,542,952 1,233,924 1,052,975 854,445 841,240 688,306 630,683 566,363 13,566,108 13,334,684 13,400,108 12,844,327 12,397,693 441,344 452,305 940,466 1,296,469 1,318,721 396,503 378,845 343,951 343,953 212,485 12,728,261 12,503,534 12,115,691 11,203,905 10,866,487 0.1696 0.1670 0.1407 0.1290 0.1159 2.53 2.48 2.41 2.29 2.16 1,298,842 1,092,958 916,085 855,419 726,814 5,037,747,500 5,037,747,500 7,484,538,998 7,484,538,998 462,621,126 139,826,950 602,448,076 (1) 154,207,041 46,608,983 200,816,024 (1) (2,445,239) (2,445,239) (2) 468,813,520 816,833,308 (794,734,125) 490,912,703 (3) 13,453,721,144 954,215,019 (794,734,125) 13,613,202,038 9.35% 9.18% 0.25 0.25 8.71% 8.55% 0.24 0.24 6.00% 5.89% 0.162 0.162 6.02% 5.91% 0.163 0.163 9

10

11

12

13

14

1,235,272 (400,500) (20,384) 2,445 816,833 468,814 1,285,647 (93,218) (46,609) 1,145,820 (654,907) 490,913 0.162 15

1,308,949 (434,120) (20,384) 854,445 (107,851) (53,925) 692,669 1,294,661 (629,718) 1,357,612 (654,907) 0.1696 16

17

18

19

20

21

22

23

1,431,371 59.76 24.23 249,898 10.43 11.09 52,874 2.21 4.88 124,693 5.21 44.76 167,402 6.99 49.04 368,961 15.40 25.59 2,395,199 100 24.76 24

258.46 4 19 6 1997.6 25 271.1 2-4 6 0 1997.6 10 29.8 4 1 0 1999.1 27 17.2 6 1 0 1999.9 27 35 6 4 1 1999.9 27 3.07 6 1 0 1999.9 27 54.4 4 6 1 2002.12 30 2002 2001 2000 1999 1998 1997 25,356 21,013 18,087 16,235 13,964 12,121 41,442 42,434 42,357 42,909 45,174 47,517 9,986 9,450 10,644 10,243 19,481 13,361 8,977 7,471 17,205 11,889 8,963 8,165 20,836 15,555 14,162 12,569 25

2002 2001 2000 1999 1998 1997 3,921.6 3,156.6 2,640.0 2,390.0 2,049.5 1,570.0 684.7 616.3 620.9 647.0 726.0 712.5 144.9 138.1 147.2 143.5 341.6 236.0 153.9 128.0 458.6 307.7 212.9 186.0 1,016.1 700.4 460.8 579.1 26

0.16% 1.88% 0.19% 1.38% 9.03% 7.77% 42.30% 22.05% 44.23% 21.12% 24.59% 25.31% 27

28

29

30

31

15,081,793 14,914,400 1.12 1,010,594 1,031,521-2.03 61,494 297,813-79.35 396,503 131,345 201.88 13,613,202 13,453,721 1.19 1,272,256 1,017,568 25.03 816,833 780,864 4.61 489,400 7,500 100,000 95,000 64,648 756,548 32

252 719,359 109,067 828,678 120,000 6,822 61,494 188,316 126,822 6,822 20,466 34,206 188,316 33

12,728,261 93.8 12,503,534 93.8 396,503 2.9 378,845 2.8 188,316 1.4 265,016 2.0 253,028 1.9 187,289 1.4 13,566,108 100 13,334,684 100 3.25% 71,146 100 47,680 84.22 7,455 13.17 1,480 2.61 71,146 100 56,615 100.00 34

58,741 100 45,661 67.11 364 0.53 16,214 23.83 5,802 8.53 58,741 100 68,041 100.00 35

36

37

38

39

1 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40

41

42

43

1951 44

45

3,381,214,600 3,381,214,600 2,781,743,600 2,781,743,600 599,471,000 599,471,000 284,532,900 284,532,900 3,665,747,500 3,665,747,500 150,000,000 150,000,000 1,222,000,000 1,222,000,000 1,372,000,000 1,372,000,000 5,037,747,500 46

(+-) (%) 2,781,743,600 55.22 597,471,000 11.86 154,696,000 3.07 88,250,000 88,250,000 1.75 18,893,505-426,765 0.38 16,660,000 0.33 14,450,000 0.29 12,000,000 0.24 8,484,000 0.17 6,200,000 0.12 47

48

49

50

51

52

53

54

55

56

57

58

59

61 62 63 64 65 66 67-94

61

3 2,272,515 1,829,552 (954,509) (801,792) 1,318,006 1,027,760 3 13,135 33,736 (80,930) (47,272) 20,394 3,924 4 1,270,605 1,018,148 5 (10,727) (19,064) 49,071 28,787 1,308,949 1,027,871 6 (434,120) (173,892) 874,829 853,979 (20,384) (12,739) 7 854,445 841,240 8 654,907 629,718 9 0.1696 0.1670 9 62

11 11,276,734 11,513,447 12 1,381,807 782,324 13 73,157 12,658,541 12,368,928 7,743 5,815 3,482 13 7,910 14 71,146 56,615 15 109,067 9,234 16 107,077 719,611 775,623 907,567 965,756 17 120,000 210,000 92,800 92,228 58,741 68,041 70,441 5,818 12,669 18 6,822 4,703 354,622 387,641 552,945 578,115 13,211,486 12,947,043 18 61,494 50,313 19 25,228 14,351 86,722 64,664 396,503 378,845 12,728,261 12,503,534 20 5,037,748 5,037,748 7,690,513 7,465,786 12,728,261 12,503,534 63

11 8,851,952 9,060,596 21 2,232,445 2,121,702 12 1,259,268 762,566 13 73,157 12,343,665 12,018,021 7,365 5,276 7,260 13 7,910 14 64,389 51,637 15 109,067 9,234 16 107,077 496,965 642,437 677,786 830,831 17 120,000 210,000 81,822 75,776 44,628 50,242 58,379 5,818 7,789 18 6,822 4,703 317,469 348,510 360,317 482,321 12,703,982 12,500,342 18 61,494 50,313 19 25,228 14,351 86,722 64,664 12,617,260 12,435,678 20 5,037,748 5,037,748 22 7,579,512 7,397,930 12,617,260 12,435,678 64

5,037,748 5,730,454 215,694 107,848 1,023,947 12,115,691 (453,397) (453,397) 841,240 841,240 78,086 39,043 (117,129) 5,037,748 5,730,454 293,780 146,891 1,294,661 12,503,534 (629,718) (629,718) 854,445 854,445 107,851 53,925 (161,776) 5,037,748 5,730,454 401,631 200,816 1,357,612 12,728,261 654,907 702,705 1,357,612 65

24(a) 1,298,842 1,092,958 (596,900) (244,190) 24(c) (150,353) (167,569) 53,305 24,296 38,458 23,549 3,959 (646,103) (369,342) 652,739 723,616 (636,569) (463,123) (7,726) (10,845) 24(d) 19,055 12,862 24(d) (5,755) (4,569) 24(d) 450,000 680,000 24(d) (540,000) (1,050,000) 5,000 33,000 (715,995) (802,675) (63,256) (79,059) 891,934 970,993 24(b) 828,678 891,934 66

67

68

69

70

71

72

73

2,026,238 1,625,992 183,988 157,424 104,147 85,195 56,812 27,997 24,014 23,173 2,395,199 1,919,781 (122,684) 2,272,515 1,829,552 13,135 33,736 2,285,650 1,863,288 74

91,719 91,809 10,453 9,282 13,718 10,848 115,890 111,939 373,876 305,514 3,188 3,890 13,578 136 630 766 1,250 1,250 4,288 10,976 9,067 7,077 (10,727) (19,064) 75

400,501 146,986 10,877 14,351 22,742 12,555 434,120 173,892 1,308,949 100% 1,027,871 100% 431,953 33% 339,198 33% (163,430) (15.9%) 619 522 (3,315) (0.3%) 1,548 0.2% 917 0.1% 434,120 33.2% 173,892 16.9% 76

654,907 629,718 1,732 1,900 220 1,732 2,120 77

120 120 120 120 78

9,342,326 1,716,088 457,898 451,014 341,149 122,749 104,702 125,764 13,439 12,675,129 70,000 24,088 1,189 4,826 11,970 1,017 27,963 141,053 28,877 (28,877) (4,277) (3,041) (7,318) 9,412,326 1,716,088 481,986 451,014 342,338 127,575 112,395 152,617 12,525 12,808,864 (561,443) (105,832) (70,704) (198,749) (88,042) (34,080) (33,015) (69,817) (1,161,682) (200,879) (33,106) (15,543) (48,575) (30,017) (15,281) (9,503) (20,972) (373,876) 2,459 969 3,428 (762,322) (138,938) (86,247) (247,324) (118,059) (49,361) (40,059) (89,820) (1,532,130) 8,650,004 1,577,150 395,739 203,690 224,279 78,214 72,336 62,797 12,525 11,276,734 8,780,883 1,610,256 387,194 252,265 253,107 88,669 71,687 55,947 13,439 11,513,447 79

7,088,418 1,716,088 372,710 374,666 256,769 122,749 99,608 120,059 3,125 10,154,192 70,000 11,663 491 4,826 10,587 6,308 23,091 126,966 14,326 (14,326) (4,277) (3,041) (7,318) 7,158,418 1,716,088 384,373 374,666 257,260 127,575 105,918 137,652 11,890 10,273,840 (536,285) (105,832) (63,406) (181,798) (70,821) (34,080) (31,734) (69,640) (1,093,596) (181,419) (33,106) (12,646) (41,108) (19,768) (15,281) (8,821) (19,571) (331,720) 2,459 969 3,428 (717,704) (138,938) (76,052) (222,906) (90,589) (49,361) (38,096) (88,242) (1,421,888) 6,440,714 1,577,150 308,321 151,760 166,671 78,214 67,822 49,410 11,890 8,851,952 6,552,133 1,610,256 309,304 192,868 185,948 88,669 67,874 50,419 3,125 9,060,596 80

1,369,758 775,301 11,249 6,026 1,381,007 781,327 800 997 1,381,807 782,324 1,258,468 761,569 800 997 1,259,268 762,566 81

82

83

11,052 8,859 28,812 11,800 32,481 37,019 72,345 57,678 (1,199) (1,063) 71,146 56,615 8,883 7,258 28,812 11,800 27,893 33,599 65,588 52,657 (1,199) (1,020) 64,389 51,637 57,493 9,234 51,574 109,067 9,234 84

107,077 5.04% 120,000 5.58% 210,000 41,022 31,494 27,294 23,522 68,316 55,016 (6,822) (4,703) 61,494 50,313 85

6,822 4,703 6,822 4,703 20,466 14,109 34,206 31,501 68,316 55,016 12,184 2,167 14,351 10,053 (2,167) 2,991 10,877 22,237 2,991 25,228 86

2,781,743,600 2,781,744 2,781,743,600 2,781,744 599,471,000 599,471 599,471,000 599,471 284,532,900 284,533 284,532,900 284,533 1,222,000,000 1,222,000 1,222,000,000 1,222,000 150,000,000 150,000 150,000,000 150,000 5,037,747,500 5,037,748 5,037,747,500 5,037,748 2,220,445 723,460 12,000 1,398,242 2,232,445 2,121,702 87

85% 850,000 95.05% 1,010 95% 100,000 88

5,730,454 215,694 107,848 1,023,947 7,077,943 (71,773) (71,773) 5,730,454 215,694 107,848 952,174 7,006,170 (453,397) (453,397) 845,157 845,157 78,086 39,043 (117,129) 5,730,454 293,780 146,891 1,226,805 7,397,930 5,730,454 293,780 146,891 1,294,661 7,465,786 (67,856) (67,856) 5,730,454 293,780 146,891 1,226,805 7,397,930 (629,718) (629,718) 811,300 811,300 81,683 40,842 (122,525) 5,730,454 375,463 187,733 1,285,862 7,579,512 654,907 630,955 1,285,862 89

90

1,308,949 1,027,871 373,876 305,514 136 630 3,188 3,890 13,578 (13,135) (33,736) 10,727 19,064 (49,071) (28,787) (1,928) 940 5,613 (12,686) (8,224) 7,245 1,630,833 1,302,821 (10,727) (19,064) (321,264) (190,799) 1,298,842 1,092,958 (b) 109,067 9,234 107,077 252 243 675,398 695,720 43,961 79,660 828,678 891,934 91

141,053 68,579 68,041 167,031 (58,741) (68,041) 150,353 167,569 210,000 55,016 265,016 626,723 450,000 19,055 469,055 692,862 (540,000) (5,755) (545,755) (1,054,569) 120,000 68,316 188,316 265,016 92

816,833 780,864 13,613,202 13,453,721 30,462 36,920 67,382 36,920 35,320 30,730 (1,582,832) (1,618,152) (16,838) 16,838 (8,237) (8,237) (10,877) (14,351) (25,228) (14,351) (7,077) 7,077 7,077 9,067 9,067 (2,445) 654,907 629,718 854,445 841,240 12,728,261 12,503,534 93

94

95

The Group s Highway Network Shandong Province Henan Province Jiangsu Province Anhui Province 2 Jiangsu Expressway Company Limited Zhejiang Province

Heilongjiang Tongjiang Houcheng Urumqi Changchun Harbin Shenyang Yellow River Chengdu Lanzhou Xian Chongqing Shijiazhang Zhengzhou Wuhan Changsha Beijing Huai Yin Yantai Nanjing Jiujiang Hefe Qingdao Dalian Lianyungang Wuxi Xiamen Fuzhou Zhanjiang Zhuhai Foshan Sanya Haikou Tongjiang to Sanya Beijing to Zhuhai Lianyungang to Houcheng Shanghai to Chengdu Beijing to Shanghai 2002 Annual Report 3