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1 Guangdong Macro Co., Ltd. 2 *ST 000533 3 528333 http://www.macro.com.cn macro@macro.com.cn 4 2

5 0765-2321218 0765-2321200 liuyl@macro.com.cn 0765-2321232 0765-2321200 zhangcs@macro.com.cn 6 http://www.cninfo.com.cn 7 4400001004073 440681190363880 16 18 2003 6 30 2002 12 31 1,933,446,196.67 1,650,623,098.05 17.13% 2,024,368,046.94 1,781,444,032.54 13.64% 3,230,658,167.04 2,951,396,181.61 9.46% 413,694,524.36 377,837,193.85 9.49% 3

0.7186 0.6563 9.50% 0.4586 0.4381 4.68% 2003 1 6 2002 1-6 29,497,594.19-66,023,337.06-25,155,100.18-58,161,297.37-0.05-0.11-7.13% -37.03% - 196,617,662.30 37,655,507.31 422.15% 14,414.44 4,328,079.57 4,342,494.01 1 94,240 2 4

143,552,640 24.94 128,567,268 22.33 19,675,000 3.42 17,000,000 2.95 10,500,000 1.82 7,466,666 1.30 7,466,666 1.30 6,496,000 1.13 5,152,000 0.89 5,092,160 0.88 1 2 3 44,400,000 13,000,000 10,800,000 7,466,666 5,152,000 5

6 2002 2003 7 22 2003 5 21 2003 5 22 1 2003 6 27 2003 7 1 2003 7 22 2 2003 7 8 2003 7 9 2003 7 22 3 2003 7 22 4 2003 8 9 5 2003 8 9

2003 1-6 2002 1-6 % 564,910,628.34 473,771,333.07 19.24% 230,835,466.68 152,433,989.72 51.43% 29,497,594.19-66,023,337.06-151,112,590.64-2,515,603.56-2003 6 30 2002 12 31 % 3,230,658,167.04 2,951,396,181.61 9.46% 413,694,524.36 377,837,193.85 9.49% 1 2003 56,491 19.24% 2,950 2 3 4 9.46% 5 9.49% 1 1 2 10% % 7

402,676,891.57 226,359,037.34 43.79% 161,863,650.07 101,564,818.41 37.25% 258,415,312.90 147,831,723.39 42.79% 97,228,001.42 51,422,813.52 47.11% 95,471,296.88 64,667,932.67 32.26% 2 3 4 51.43% --- 2,918 5 49% M 3 M 5 S 2003 5,956 2,918 15% GSM900/GSM1800 CDMA 6 8

9 1 2 1 9 2002 2002 2002 2002

2003 2002 2003 29,497,594.19-1,030,846,822.67-1,001,349,228.48 2003 139 2003 2002 2002 11 19 2003 4 5 10

11 2002 10 4550 2002 2003 6 30 4,217 2003 6 30 34,050 1 64 1-5 2003 518 2 3 5% 5% 5% 5%

12 2002 11 19 7 2 2003 4 5 3 23 39 2003 4 12 9 11 73 2003 4 22 28 25 3 2003 6 25 23 15 3 --- www.cninfo.com.cn OO

2003 6 30 2003.06.30 2002.12.31 340,973,200.49 115,865,357.87 189,860,609.85 9,945,628.20 - - - - 3,608,528.00-7,912,177.00 637,000.00 57,151,785.57 60,206,733.73 57,151,785.57 60,206,733.73 - - - - 430,877,003.00-354,845,041.26-753,510,705.90 484,301,513.29 714,065,110.38 671,052,603.46 27,767,624.65-32,739,776.91 - - - - - 319,273,111.05-293,577,483.40-284,238.01-471,113.68 - - - - - - - - - 1,933,446,196.67 660,373,604.89 1,650,623,098.05 741,841,965.39 262,144,202.41 804,095,197.80 232,200,780.93 751,145,556.57 - - - - 262,144,202.41 804,095,197.80 232,200,780.93 751,145,556.57 1,153,359,899.16 365,955,083.52 1,158,973,474.96 368,202,734.81 457,958,775.05 34,612,269.66 443,988,621.80 31,542,688.57 695,401,124.11 331,342,813.86 714,984,853.16 336,660,046.24 118,819,615.71 86,841,902.28 119,275,888.60 87,286,305.11 576,581,508.40 244,500,911.58 595,708,964.56 249,373,741.13 - - - - 35,300,222.32-34,690,316.80 - - - - 611,881,730.72 244,500,911.58 630,399,281.36 249,373,741.13 400,293,460.39 387,718,828.08 412,262,147.10 397,951,998.77 22,892,576.85 2,921,363.50 25,910,874.17 3,116,121.07 - - - - 423,186,037.24 390,640,191.58 438,173,021.27 401,068,119.84 - - - - 3,230,658,167.04 2,099,609,905.85 2,951,396,181.61 2,143,429,382.93 13

2003 6 30 2003.06.30 2002.12.31 1,091,544,893.82 742,167,043.82 1,099,602,133.82 819,964,283.82 199,948,601.94-130,994,911.50-220,531,144.47-176,527,875.60-119,819,466.94-108,574,098.80-10,105,993.25-117,480.00 11,434,068.85-11,248,472.60 171,369.60 11,763,449.06 149,416.40 1,856,443.09 1,856,443.09 1,856,443.09 1,856,443.09 26,989,187.66 14,651,840.01 26,613,347.05 15,555,745.86 210,534.65 42,499.45 232,116.47 68,618.58 287,607,504.67 218,196,522.86 165,240,998.35 256,947,815.84 14,255,803.85 5,603,307.90 22,104,589.95 2,148,274.16 - - - - 40,250,000.00 34,000,000.00 26,500,000.00 14,000,000.00 - - - - 2,024,368,046.94 1,016,571,546.73 1,781,444,032.54 1,110,690,597.75 784,960,609.00 619,231,630.41 784,153,404.92 598,429,650.66 - - - - - - - - 6,410,000.00-6,310,000.00-25,000.00-25,000.00-791,395,609.00 619,231,630.41 790,488,404.92 598,429,650.66 1,199,986.74-1,626,550.30-2,816,963,642.68 1,635,803,177.14 2,573,558,987.76 1,709,120,248.41 - - - - 575,680,000.00 575,680,000.00 575,680,000.00 575,680,000.00 - - - - 575,680,000.00 575,680,000.00 575,680,000.00 575,680,000.00 632,907,874.72 632,907,874.72 632,907,874.72 632,907,874.72 256,568,082.47 199,171,357.34 256,568,082.47 199,171,357.34 32,113,214.50 32,113,214.50 32,113,214.50 32,113,214.50-1,001,349,228.48-943,952,503.35-1,030,846,822.67-973,450,097.54-50,112,204.35 - -56,471,940.67-413,694,524.36 463,806,728.71 377,837,193.85 434,309,134.52 3,230,658,167.04 2,099,609,905.85 2,951,396,181.61 2,143,429,382.93 14

2003 1-6 2003 1-6 2002 1-6 564,910,628.34-473,771,333.07-331,387,702.57-318,944,812.98-2,687,459.09-2,392,530.37-230,835,466.68-152,433,989.72 - -604,107.50-1,226,181.34 3,135,823.25 1,012,155.59 89,421,725.18-98,179,339.29-76,346,844.66 3,618,127.54 88,406,640.13 15,863,626.34 55,266,096.36 39,029,520.56 50,343,017.11 41,460,821.12 9,196,692.98-43,873,829.44-81,359,183.56-56,312,291.87 28,733,421.48 70,775,296.61 13,795,237.44-9,069,925.65 4,328,079.57 2,507,736.48 - - 1,682,828.68 284,709.50 202,978.88 34,835.67 1,668,414.24 196,318.96 8,065,018.57 675,955.21 42,272,608.47 29,497,594.19-75,425,985.81-66,023,337.06 7,390,148.39-1,090,686.74 - - - -8,359,862.57 - -5,384,865.89-2,133,472.92-29,497,594.19 29,497,594.19-66,023,337.06-66,023,337.06 2003 1-6 2002 1-6 1 2 3 4 5 6 15

2003 1-6 2003 1-6 2002 1-6 29,497,594.19 29,497,594.19-66,023,337.06-66,023,337.06-1,030,846,822.67-973,450,097.54-930,048,792.23-872,652,067.10 - - - - -1,001,349,228.48-943,952,503.35-996,072,129.29-938,675,404.16 - - - - - - - - -1,001,349,228.48-943,952,503.35-996,072,129.29-938,675,404.16 - - - - - - - - - - - - - - - - -1,001,349,228.48-943,952,503.35-996,072,129.29-938,675,404.16 16

2003 1-6 567,115,792.00-5,136,574.42 2,507,736.48 203,235,781.99 219,064,166.86 775,488,148.41 221,571,903.34 296,566,427.29-59,264,206.58 3,243,910.70 53,839,227.95 698,996.25 169,200,624.29 65,111,410.78 578,870,486.11 69,054,317.73 196,617,662.30 152,517,585.61 - - - - 1,537,411.14 18,079,951.52 - - 1,537,411.14 18,079,951.52 3,054,685.98-1,210,000.00 - - - 4,264,685.98 - -2,727,274.84 18,079,951.52 - - - - 172,500,000.00 341,430,000.00 - - 172,500,000.00 341,430,000.00 166,398,567.74 374,818,567.74 49,226,170.99 31,161,364.72 127,875.00 127,875.00 215,752,613.73 406,107,807.46-43,252,613.73-64,677,807.46 474,816.91-151,112,590.64 105,919,729.67 17

1-29,497,594.19 29,497,594.19-5,384,865.89 - - - - 5,962,906.84-19,786,236.08 4,703,957.58 12,010,386.17 10,233,170.69 4,305,735.76 194,757.57 192,538.00 - -13,052,330.67-2,598,600.09 326,398.07-88,390.54 - - 55,267,031.01 39,029,520.56-28,733,421.48-70,775,296.61 - - -42,082,548.14 - -150,907,896.97 74,970,151.74 298,660,167.55 67,350,720.52 - - 196,617,662.30 152,517,585.61 2 - - - - - - 3 303,725,350.49 115,865,357.87 152,612,759.85 9,945,628.20 - - - - 151,112,590.64 105,919,729.67 ** USD450 18

2003 1-6 139,719,821.99 6,555,476.22 1,766,415.18 144,508,883.03 29,443,634.53 5,583,852.21 1,766,415.18 33,261,071.56 - - - - 110,276,187.46 971,624.01-111,247,811.47 - - - - - - - - - - - - 83,322,252.57 987,225.09 5,655,431.32 84,654,046.34 16,508,375.67-5,655,431.32 10,852,944.35 72,295,509.89 987,225.09-73,282,734.98 349,029.99 - - 349,029.99 349,029.99 - - 349,029.99 - - - - 119,275,888.60-456,272.89 118,819,615.71 92,113,150.31-444,402.83 91,668,747.48 27,109,441.27 - - 27,109,441.27 53,297.02-11,870.06 41,426.96 - - - - 343,334,566.00 - - 343,334,566.00 - - - - 134,300,000.00 - - 134,300,000.00 209,034,566.00 - - 209,034,566.00 - - - - - - - - 68,696,050.88 - - 68,696,050.88 250,000.00 - - 250,000.00 19

2003 1 6 1992 9 8 [1992]58 1992 10 28 19036388-0 575,680,000 [97]359 1 2 1 1 12 31 3 4 5 20

6 3 7 8 5% 5% 1 2 3 9 21

22 10 1 20% 20% 20% 50% 50% 20% 20% 20% 10 2 3 11

12 2000 5% ============== ============ ============ 20-35 2.71-4.75% 6-15 6.33-15.83% 5-8 11.88-19% 5 19% ============== ============ ============ 13 3 23

14 1 2 3 = 15 10 16 5 24

5 17 18 1 2 3 19 25% 20 21 1 2 25

3 22 23 24 25 1995 11 1 17% 2 6% 5% 3 5% 26

4 3% 5 15-33 % 33% 27% [1996]65 15% 1 ================ ==== ====== ============ ================ ====== ================ ====== USD27,860,000 RMB247,332,835.45 75% RMB300,000,000 RMB268,356,679.95 89.50% RMB42,600,000 RMB146,798,672.89 90% RMB10,000,000 RMB6,000,000 60% RMB5,000,000 RMB3,000,000 60% 5,000,000.00 3,500,000.00 70% ================ ==== ====== ============ ================ ====== ================ * 10.50% 100% ** 30% 100% *** 10% 100% 2 2003 27

3 ================== ======== ====== ============== =================== ====== ============= USD5,200,000.00 RMB40,110,242.82 49% USD6,000,000.00 RMB37,859,721.00 49% USD2,100,000.00 RMB8,520,120.00 49% USD82,500,000.00 RMB60,000,000.00 15% ================== ======== ====== ============== =================== ====== ============= 1 ---------------------------------- ------------------------------------- ============= ====== ============== ============== ====== ============== RMB 233,818.48 233,818.48 266,862.93 266,862.93 RMB 302,273,877.34 302,273,877.34 137,036,549.17 137,036,549.17 USD 4,658,788.13 8.2773 38,562,036.01 4,703,273.06 8.2773 38,930,406.58 HKD 23,682.18 1.0609 25,124.42 1,620,352.94 1.0611 1,719,356.50 EUR 38,180.30 8.6787 331,355.36 39,908.01 8.6360 344,645.57 JPY 79,635.00 0.0690 5,497.60 RMB 230,604.62 230,604.62 11,557,291.50 -------------- -------------- 340,973,200.49 189,860,609.85 ============== ============== 28

79.59% 2 ------------------------ ---------------------- ======== ========== ========== ========== ========== 250,000.00 250,000.00 250,000.00 250,000.00 ======== ========== ========== ========== ========== 3 =================== =============== =============== 3,608,528.00 7,912,177.00 --------------- --------------- 3,608,528.00 7,912,177.00 4 =============== =============== ================================= =============== =============== 2,171,488.86 2,171,488.86 28,802,556.29 28,802,556.29 26,177,740.42 26,177,740.42 --- --- --------------- --------------- 57,151,785.57 57,151,785.57 =============== =============== 29

5 1 -------------------------------------- -------------------------------------- ========== ============== ======= ============= ============== ======= ============= 1 218,063,756.97 46.98% 10,903,187.85 169,310,293.46 44.06% 8,465,514.66 1 2 92,001,209.49 19.82% 4,600,060.47 107,444,585.64 27.96% 5,372,229.28 2-3 64,153,058.24 13.82% 3,207,652.91 35,790,157.35 9.31% 1,906,268.99 3 89,920,049.86 19.37% 14,550,170.33 71,743,639.34 18.67% 13,699,621.60 -------------- ------- ------------- -------------- ------- ------------- 464,138,074.56 100% 33,261,071.56 384,288,675.79 100% 29,443,634.53 ============== ======= ============= ============== ======= ============= 2 3 7,364,676.64 3 15,813,265.92 25% 3 20.78% 4 ================================ ============= ======= ======== ========= SH 20,182,371.00 4.35% SH 6,109,800.00 1.32% SH 4,831,398.08 1.04% GZ2 4,103,650.00 0.88% HN2 3,842,964.60 0.83% ------------- ------- 39,070,183.68 8.42% ============= ======= 30

5 5% 5% 6 1 -------------------------------------- -------------------------------------- ========== ============== ======= ============== ============== ======= ============= 1 412,815,414.42 47.74% 20,295,395.95 394,080,238.32 47.81% 20,794,435.53 1 2 319,208,956.70 36.91% 16,597,618.52 306,546,443.68 37.19% 16,928,706.63 2-3 10,354,284.64 1.20% 517,714.24 13,122,449.15 1.59% 655,622.45 3 122,379,861.61 14.15% 73,837,082.77 110,592,166.69 13.41% 71,897,422.85 -------------- ------- -------------- -------------- ------- ------------- 864,758,517.37 100% 111,247,811.47 824,341,297.84 100% 110,276,187.46 ============== ======= ============== ============== ======= ============= 2 ================================ ============== ========== =========== ================== 312,533,728.32 36.14% 2002 306,889,235.90 35.49% 2000-2001 59,144,728.38 6.84% 1997-1999 16,000,000.00 1.85% 2002 15,803,141.74 1.83% 2002 -------------- ---------- 710,370,834.34 82.15% ============== ========== 3 4 40% 1996 9 1,000 2002 12 31 31

1999 1996 9 1,000 2002 12 31 2000 9 25 2000 260 500 2001 2 21 2000 541 500 500 1999 50% 2001 100% 1,728,390.61 3 2001 70% 5 5% 5% 7 1 =========== ================= ======== ================= ======== 1 19,622,194.45 70.67% 24,730,415.34 75.54% 1 2 3,890,926.14 14.01% 3,418,108.30 10.44% 2-3 1,656,234.53 5.96% 2,068,839.06 6.32% 3 2,598,269.53 9.36% 2,522,414.21 7.70% ----------------- -------- ----------------- -------- 27,767,624.65 100.00% 32,739,776.91 100.00% ================= ======== ================= ======== 2 1 3 5% 5% 32

8 ------------------------------ ----------------------------- ============ ============== ============== ============== ============== 173,071,368.39 10,852,944.35 167,880,757.30 16,508,375.67 162,253,721.32 73,282,734.98 149,141,189.48 72,295,509.89 --- --- --- --- 7,846,138.04 17,264.79 7,981,131.26 17,264.79 6,076,119.99 --- 2,753,741.24 --- 4,788,509.40 501,102.22 10,069,619.63 501,102.77 49,891,300.25 --- 45,073,297.06 --- -------------- -------------- -------------- -------------- 403,927,157.39 84,654,046.34 382,899,735.97 89,322,252.57 ============== ============== ============== ============== 9 =========== ============= =============== ====================== --- 119,962.99 68,020.82 149,225.83 133,312.51 --- 82,904.68 --- ------------- ------------- 284,238.01 471,113.68 ============= =============== 33

10 --------------------------- -------------------------- ============== ============= ============== ============== ============== =========== -1,826,172.07 349,029.99 217,520.20 --- -1,608,651.87 349,029.99-2,175,202.06 --- 217,520.20 --- -1,957,681.86 --- 149,628,591.69 --- 29,183,295.70 667,394.42 178,144,492.97 --- 20,766,944.27 --- --- 667,394.42 20,099,549.85 --- 84,747,391.30 --- 1,210,000.00 --- 85,957,391.30 --- -------------- ----------- -------------- -------------- ----------- 232,549,810.92 349,029.99 30,610,815.90 667,394.42 262,493,232.40 349,029.99 ============== ============= ============== ============== ============== =========== 1 ----------------------- (%) ======================== ======== ========== ============ ============ ======== ======== ======== =========== =========== ======== ==== ==== ==== 1997-2012 60 3,000,000.00 349,029.99 --- --- --- -2,650,970.01 349,029.99 349,029.99 --- --- 100-4,350,404.14-2,175,202.06 --- 217,520.20 --- 2,392,722.28-1,957,681.86 --- -- -- -4,350,404.14-2,175,202.06 --- 217,520.20 --- 2,392,722.28-1,957,681.86 --- --- --- ----------- ------------ -------- -------- -------- ---------- ---------- -------- ---- ---- -1,350,404.14-1,826,172.07 --- 217,520.20 --- -258,247.73-1,608,651.87 349,029.99 --- --- ============ ============ ======== ======== ======== =========== =========== ======== ==== ==== * * 34

------------------------------------------------ (%) ======================= ======== ======== ============ ============ ======== =========== =========== =========== ============ ========== ========== ==== ==== 1985-2015 49 40,110,242.82 53,429,051.58 --- 375,541.47 --- 13,694,350.23 53,804,593.05 --- --- --- 1993-2043 49 37,859,721.00 35,902,741.24 --- -1,135,409.36 --- -3,092,389.12 34,767,331.88 --- --- --- 1998-2048 49 8,520,120.00 60,296,798.87 --- 29,275,769.17 --- 81,052,448.04 89,572,568.04 --- --- --- ----------- ----------- -------- ---------- ---------- ---------- ----------- ---------- ---------- ---- 86,490,083.82 149,628,591.69 --- 28,515,901.28 --- 91,654,409.15 178,144,492.97 --- --- --- 2 ============ ============ ======== =========== =========== =========== ============ ========== ========== ==== --------------------------------------- % ============================ ======== ================= ============== ============= ============= ======== ======== ======== ========= 0.35 10,000,000.00 10,000,000.00 10,000,000.00 --- --- --- 1.56 9,600,000.00 9,600,000.00 9,600,000.00 --- --- --- 1995-2045 15.00 60,000,000.00 60,000,000.00 60,000,000.00 --- --- --- 0.81 2,430,000.00 2,430,000.00 2,430,000.00 --- --- --- 1998-2028 5.00 56,826,212.98 2,717,391.30 2,717,391.30 --- --- 29.6 1,210,000.00 1,210,000.00 ------------- ------------- ------------- -------- -------- -------- 138,856,212.98 84,747,391.30 85,957,391.30 --- --- --- ============== ============== ============= ======== ======== ======== 35

* 3 ========================== ================ ========= ========= ============== =============== -4,350,404.14 10-217,520.20-1,957,681.86 19,807,798.33 17 582,582.30 13,399,393.02 7,633,090.07 45 84,812.12 6,700,156.83 ---------------- -------------- --------------- 23,090,484.26 449,874.22 18,141,867.99 ================ ============== =============== 36

11 ============== ================ ============= ============= ================ 705,371,140.30 188,166.00 549,260.81 705,010,045.49 388,886,645.59 2,755,581.15 2,512,909.85 389,129,316.89 37,088,680.43 246,800.00 6,906,744.35 30,428,736.08 27,627,008.64 2,168,142.06 1,003,350.00 28,791,800.70 ---------------- ------------- ------------- ---------------- 1,158,973,474.96 5,358,689.21 10,972,265.01 1,153,359,899.16 ================ ============= ============= ================ 1 526,937.17 2 5,339,251.30 3 292,963,800.00 275,333,398.19 266,206,861.97 127,125,511.53 285,830,029.04 182,920,903.14 12 ============== ================ ============= ============= ============== 148,804,549.13 8,951,106.10 179,350.42 157,576,304.81 254,269,412.52 9,877,595.46 1,584,683.79 262,562,324.19 26,459,263.99 1,430,817.22 5,462,690.91 22,427,390.30 14,455,396.16 2,528,261.51 1,590,901.92 15,392,755.75 -------------- ------------- ------------- -------------- 443,988,621.80 22,787,780.29 8,817,627.04 457,958,775.05 ================ ============= ============= ============== 37

13 ============== ================ ============ ============= ============== 92,113,150.31 --- 444,402.83 91,668,747.48 27,109,441.27 --- --- 27,109,441.27 53,297.02 --- 11,870.06 41,426.96 --- --- --- --- -------------- ------------ ------------- -------------- 119,275,888.60 --- 456,272.89 118,819,615.71 ================ ============ ============= ============== 14 ERP ======================= =========== ========== ========== ============ ============ --- --- --- --- --- 157,500.00 3,417,740.00 1,115,076.80 98,696,050.88 103,386,367.68 ( : ) --- --- --- 16,434,201.85 16,434,201.85 --- --- 1,136,842.69 --- 1,136,842.69 ( : ) --- --- --- --- --- 157,500.00 --- 369,437.17 --- 526,937.17 ( : ) --- --- --- --- --- --- --- --- --- --- ( : ) --- --- --- --- --- --- 3,417,740.00 1,882,482.32 98,696,050.88 103,996,273.20 ( : ) --- --- --- 16,434,201.85 16,434,201.85 --- --- --- --- --- --- 67.00% --- : --- --- --- --- --- --- --- --- 68,696,050.88 68,696,050.88 --- --- --- --- --- --- --- --- --- --- --- --- --- 68,696,050.88 68,696,050.88 ======================= =========== ========== ========== ============ ============= 1 1999 38

2 1999 68,696,050.88 15 ================ ============== ================= ============== ============= ============== --- --- 572,486,007.06 40,965,114.28 300,000,000.00 37,706,000.00 951,157,121.34 508,950,924.73 5,845,788.33 240,800,000.04 --- 755,596,713.10 --- --- --- --- --- --- --- --- --- --- 3,182,448.15 1,234,248.48 7,551,990.08 --- 11,968,686.71 505,768,476.58 4,611,539.85 233,248,009.96 --- 743,628,026.39 5---67 1---9.6 7 --- --- --- --- --- --- --- 209,034,566.00 --- 134,300,000.00 --- 343,334,566.00 --- --- --- --- --- --- --- --- --- --- 209,034,566.00 --- 134,300,000.00 --- 343,334,566.00 ================ ============== ================= ============== ============= ============== 1 5 10 5 1993 3 10 2000 7 39

10 2 28 29 30 249,827,460.40 16 ==================== ============= ============= ============= ============ =============== ============= 21,394,018.73 3,449,717.12 712,354.04 641,325.16 17,873,272.73 3,520,746.00 6,460,368.23 4,738,553.43 --- 617,743.19 2,339,557.99 4,120,810.24 13,898,701.86 8,027,500.55 381,698.41 687,285.06 6,176,787.96 7,721,913.90 10,931,352.25 4,703,123.66 --- 1,389,031.94 7,617,260.53 3,314,091.72 9,683,264.27 4,991,979.41 264,766.88 1,041,731.30 5,468,249.28 4,215,014.99 ------------- ------------- ------------- ------------ --------------- ------------- 62,367,705.34 25,910,874.17 1,358,819.33 4,377,116.65 39,475,128.49 22,892,576.85 17 ============= ============= ============= ============ =============== ============= ------------------------------------ ------------------------------------ ========== ============== ====== ============== ================ ====== ============== --- --- --- --- RMB230,120,000.00 230,120,000.00 RMB230,120,000.00 230,120,000.00 RMB75,423,843.82 75,423,843.82 RMB75,423,843.82 75,423,843.82 RMB732,200,000.00 732,200,000.00 RMB733,634,000.00 733,634,000.00 USD6,500,000.00 8.2771 53,801,050.00 USD7,300,000.00 8.2773 60,424,290.00 -------------- -------------- 1,091,544,893.82 1,099,602,133.82 ============== ============== 40

1 230,120,000.00 32,000,000.00 10,000,000.00 5,000,000.00 124,500,000.00 15,000,000.00 43,620,000.00 2 75,423,843.82 68,423,843.82 7,000,000.00 3 732,200,000.00 6,500,000.00 1,800,000.00 2,000,000.00 35,000,000.00 4,000,000.00 288,500,000.00 30,000,000.00 4,500,000.00 61,000,000.00 30,500,000.00 105,000,000.00 1,900,000.00 41

174,500,000.00 4 =========================== ============= ============ ================= ======= ==== ================ 1,800,000.00 2001.11.30-2002.7.30 7.02% 4,000,000.00 1994.01.04-1999.01.04 7.722% USD2,000,000 16,553,200.00 2001.10.25-2002.03.25 9.50% 36,000,000.00 1998.08.14-1998.12.14 5.85% 58,000,000.00 2002.09.21-2003.01.21 5.76% ------------ 116,353,200.00 ============ 10.66% 18 ============= =============== =============== 199,948,601.94 130,994,911.50 --------------- --------------- 199,948,601.94 130,994,911.50 =============== =============== 1 52.64% 2 5% 5% 19 1 --------------------------- --------------------------- =========== ================= ======== ================= ======== 1 176,347,353.73 79.96% 171,074,964.70 96.91% 1 2 31,981,126.00 14.50% 4,611,084.97 2.61% 2-3 6,869,330.69 3.11% 719,972.35 0.41% 42

3 5,333,334.05 2.42% 121,853.58 0.07% ----------------- -------- ----------------- -------- 220,531,144.47 100% 176,527,875.60 100% ================= ======== ================= ======== 2 24.93% 3 5%( 5%) 20 1 --------------------------- --------------------------- =========== ================= ======== ================= ======== 1 90,077,894.77 75.18% 104,128,746.80 95.91% 1 2 25,519,935.00 21.30% 4,442,412.50 4.09% 2-3 4,221,637.17 3.52% 2,939.50 --- 3 --- --- --- --- ----------------- -------- ----------------- -------- 119,819,466.94 100% 108,574,098.80 100% ================= ======== ================= ======== 2 1 3 5% 5% 21 =========================== =============== ================= 616,864.49 616,864.49 746,666.60 746,666.60 492,800.00 492,800.00 112.00 112.00 --------------- --------------- 1,856,443.09 1,856,443.09 =============== ================= 43

22 =========================== =============== ================= 9,953,265.48 11,730,649.96 731,116.65 2,613,926.54 304,280.30 456,960.57 288,986.60 143,486.50 --- --- 15,710,240.31 11,669,184.12 1,298.32-860.64 --------------- --------------- 26,989,187.66 26,613,347.05 23 =============== ================= 1 ============ =============== ================= 1 235,757,841.22 115,636,032.48 1 2 28,591,476.26 24,396,782.92 2 3 2,636,518.68 8,529,784.40 3 20,621,668.51 16,678,398.55 --------------- --------------- 287,607,504.67 165,240,998.35 =============== ================= 74.05% 15,000 2 ============================= ============= =========== ======== 150,000,000.00 1 8,000,000.00 3 44

6,278,400.00 1-2 4,540,356.98 3 3,327,478.42 1 ============================= ============= =========== ======== 3 5%( 5%) 24 ==================== ======== ============= ============= 5,689,795.09 3,263,458.82 1,892,164.62 3,830,000.00 6,673,844.14 13,392,354.30 --- 184,776.83 --- 1,434,000.00 ------------- ------------- 14,255,803.85 22,104,589.95 ============= ============= 35.50% 25 ==================== ============== ============== --- --- ==================== ============== ============== 26 ----------------------------------- ------------------------------------- ======== ================ ==== ============= ================= ==== ============== RMB20,250,000.00 20,250,000.00 RMB26,500,000.00 26,500,000.00 RMB20,000,000.00 20,000,000.00 --- --- ------------- ------------- 40,250,000.00 26,500,000.00 ============= ============== 45

1 14,000,000.00 2 6,250,000.00 3 20,000,000.00 27 ----------------------------------- ----------------------------------- ============== ================= ====== ============== =============== ====== ============== RMB426,100,000.00 426,100,000.00 RMB452,780,000.00 452,780,000.00 RMB346,530,000.00 346,530,000.00 RMB319,030,000.00 319,030,000.00 HKD11,632,650.00 1.06 12,330,609.00 HKD11,632,650.00 1.0611 12,343,404.92 46 ------------- ------------- 784,960,609.00 784,153,404.92 1 426,100,000.00 ============= ============= 321,000,000.00 30,000,000.00 105,100,000.00 2 346,530,000.00 11,632,650.00 144,430,000.00 11,632,650.00 35,700,000.00 44,000,000.00 2,000,000.00 120,400,000.00

28 ================= ============= =============== =============== 4,500,000.00 4,500,000.00 1,810,000.00 1,810,000.00 100,000.00 --------------- --------------- 6,410,000.00 6,310,000.00 29 47 =============== =============== ================================= =============== =============== 1,199,986.74. 1,626,550.30 ================================= =============== =============== 30 ===================== ================ ================ --- --- 1 176,288,934.00 176,288,934.00 --- --- 176,288,934.00 176,288,934.00 --- --- --- --- 2 195,685,466.00 195,685,466.00 3 --- --- 4 --- --- --- --- 371,974,400.00 371,974,400.00 1 203,705,600.00 203,705,600.00

2 --- --- 3 --- --- 4 --- --- 203,705,600.00 203,705,600.00 575,680,000.00 575,680,000.00 ===================== ================ ================ 44,400,000 13,000,000 10,800,000 7,466,666 5,152,000 31 ================ ============== ============== ========== ============== 299,938,763.30 --- --- 299,938,763.30 53,118,470.76 --- --- 53,118,470.76 279,850,640.66 --- --- 279,850,640.66 -------------- -------------- ---------- -------------- 632,907,874.72 --- --- 632,907,874.72 32 ============== ============== ========== ============== ================ ============== =========== =========== ============== 60,118,862.54 --- --- 60,118,862.54 32,113,214.50 --- --- 32,113,214.50 164,336,005.43 --- --- 164,336,005.43 -------------- ----------- ----------- -------------- 256,568,082.47 --- --- 256,568,082.47 ============== =========== =========== ============== 48

33 2003 1-6 2002 ==================== ================= ================ -1,030,846,822.67-930,048,792.23 29,497,594.19-100,798,030.44 --- --- --- --- --- --- --- --- -1,001,349,228.48-1,030,846,822.67 ==================== ================= ================ 34 ================================= =============== =============== -50,112,204.35-56,471,940.67 --------------- --------------- -50,112,204.35-56,471,940.67 =============== =============== 35 1 2003.01-06 2002.01-06 ----------------------------- ----------------------------- ============== ================ ============== ================ ============== 564,910,628.34 331,387,702.57 473,771,333.07 312,775,396.99 6,832,046.14 3,162,517.47 9,804,544.46 6,169,415.99-6,832,046.14-3,162,517.47-9,804,544.46 --- ---------------- -------------- ---------------- -------------- 564,910,628.34 331,387,702.57 473,771,333.07 318,944,812.98 ================ ============== ================ ============== 49

2 2003.01-06 2002.01-06 ------------------------------- ---------------------------- ========== ================ ============== ================ ============== 99,762,259.04 58,478,661.32 93,093,754.21 62,132,268.56 197,881,403.34 112,721,748.29 123,183,436.90 77,950,150.49 138,461,676.54 80,635,208.64 131,150,732.48 86,932,596.53 80,049,114.06 46,938,640.16 54,254,603.57 37,013,701.18 13,053,790.57 8,355,096.82 38,693,742.25 26,330,545.47 32,212,457.88 19,040,727.11 21,445,163.89 14,110,742.38 3,489,926.91 5,217,620.23 21,754,444.23 14,474,808.37 --- --- -9,804,544.46 --- ---------------- -------------- ---------------- -------------- 564,910,628.34 331,387,702.57 473,771,333.07 318,944,812.98 ================ ============== ================ ============== 3 75,077,286.28 13.29% 36 2003.01-06 2002.01-06 ================================= =============== =============== 2,687,459.09 2,392,530.37 --------------- --------------- 2,687,459.09 2,392,530.37 37 =============== =============== 2003.01-06 2002.01-06 ================================= =============== =============== -2,073,051.34 1,012,155.59 236,492.88 2,014,328.86 1,232,450.96 109,338.80 --------------- --------------- -604,107.50 3,135,823.25 =============== =============== 50

38 2003.01-06 2002.01-06 ================================= =============== =============== 76,346,844.66 88,406,640.13 39 --------------- --------------- 76,346,844.66 88,406,640.13 =============== =============== 2003.01-06 2002.01-06 =============== =============== 54,601,077.13 50,369,373.16 352,075.74 90,382.96 726,085.07 217,213.74 233,877.82 308,859.89 391,707.82 155,673.06 40 --------------- --------------- 55,266,096.36 50,343,017.11 =============== =============== 2003.01-06 2002.01-06 ========================================== ============= ============= --- --- --- --- --- --- 29,183,295.70 14,245,111.65-449,874.22-449,874.21 --- --- --- --- ------------- ------------- 28,733,421.48 13,795,237.44 ============= ============= 108.29% 41 51

2003.01-06 2002.01-06 ================================= =============== =============== 1,820,343.09 --- 2,507,736.48 --- --------------- --------------- 4,328,079.57 --- =============== =============== 42 2003.01-06 2002.01-06 ================================= =============== =============== --- --- 20.00 3,750.00 882,642.29 44,323.69 800,166.39 154,905.19 --------------- --------------- 1,682,828.68 202,978.88 =============== =============== 729.07% 43 2003.01-06 2002.01-06 ================================= =============== =============== 377,020.43 2,101,565.81 --- --- --- --- --- --- --- 5,237,611.38 --- 100,000.00 --- --- 1,291,393.81 625,841.38 --------------- --------------- 1,668,414.24 8,065,018.57 =============== =============== 79.31% 52

44 2003.01-06 2002.01-06 ================================= =============== =============== 7,387,254.41 1,028,764.52 --- 61 922.22 2,896.98 --- --------------- --------------- 7,390,148.39 1,090,686.74 =============== =============== 577.57% 45 ================================= =============== 150,000,000.00 38,040,000.00 1,161,154.10 787,500.00 1,500,000.00 801,231.33 10,945,896.56 --------------- 203,235,781.99 46 =============== ==================================================== =============== 13,000,000.00 42,172,521.58 495,604.00 53

7,460,078.95 3,620,130.43 5,993,206.03 18,449,186.21 3,399,428.49 11,819,932.43 3,200,388.34 11,687,036.78 22,849,795.67 1,353,315.38 23,700,000.00 --------------- 169,200,624.29 =============== 1 1 -------------------------------------- -------------------------------------- ========== ============== ======= ============= ============== ======= ============= 1 181,453,821.08 31.76% 14,719,512.60 379,509,458.22 49.95% 16,874,504.91 1 2 306,889,235.90 53.71% 15,981,632.48 299,512,299.81 39.42% 15,462,299.81 2-3 7,889,235.90 1.38% 394,461.80 7,889,235.90 1.04% 394,461.80 3 75,143,930.68 13.15% 55,979,103.39 72,851,979.44 9.59% 55,979,103.39 -------------- ------- ------------- -------------- ------- ------------- 571,376,223.56 100% 87,074,710.27 759,762,973.37 100% 88,710,369.91 ============== ======= ============= ============== ======= ============= 2 5% 5% 54

2 --------------------------- ---------------------------- ============== ============ ============== ============== ============== ============== 517,118,603.57 349,029.99 42,259,395.33 17,825,655.38 541,552,343.52 349,029.99-2,175,202.06 --- 217,520.20 --- -1,957,681.86 --- 149,628,591.69 --- 29,183,295.70 667,394.42 178,144,492.97 --- 20,766,944.27 --- --- 667,394.42 20,099,549.85 --- 84,747,391.30 --- --- --- 84,747,391.30 --- -------------- ------------ -------------- -------------- -------------- -------------- 751,494,586.56 349,029.99 71,442,691.03 18,493,049.80 804,444,227.79 349,029.99 ============== ============ ============== ============== ============== ============== 1 ------------------------ (%) ======================== ======= ==== =========== ============ ====== =========== ============ ====== ============ ======== ===== ==== ==== 1988-2008 75 247,332,835.45 --- --- -247,332,835.45 --- --- --- --- 89.50 268,356,679.95 269,258,562.44 --- 159,803.38 1,061,685.87 --- 269,418,365.82 --- --- --- 55

90 146,798,672.89 244,019,005.99 17,825,655.38 42,831,610.24 140,051,943.34 --- 269,024,960.85 --- --- --- 1997-2012 60 6,000,000.00 --- --- -6,000,000.00 --- --- --- --- --- 1997-2012 60 3,000,000.00 349,029.99 --- -2,650,970.01 --- 349,029.99 349,029.99 --- --- * 70 3,500,000.00 3,492,005.15 --- -732,018.29-740,013.14 --- 2,759,986.86 --- --- --- ----------- ------------ ------ ----------- ------------ ------ ------------ -------- ----- ---- 674,988,188.29 517,118,603.57 17,825,655.38 42,259,395.33-115,610,189.39 --- 541,552,343.52 349,029.99 --- --- ============ ============ ====== =========== ============ ======= ============ ======== ===== ==== * ** -------------------- (%) ========================== ======= ======= =========== ============ ====== ========== ========== ======== =========== ==== ==== ==== ==== 1985-2015 49 40,110,242.82 53,429,051.58 --- 375,541.47 13,694,350.23 --- 53,804,593.05 --- --- --- 1993-2043 49 37,859,721.00 35,902,741.24 --- -1,135,409.36-3,092,389.12 --- 34,767,331.88 --- --- --- 1998-2048 49 8,520,120.00 60,296,798.87 --- 29,275,769.17 81,052,448.04 --- 89,572,568.04 --- --- --- 56

----------- ----------- ------ ---------- ---------- -------- ----------- ---- ---- ---- 86,490,083.82 149,628,591.69 --- 28,515,901.28 91,654,409.15 --- 178,144,492.97 --- --- --- ============ ============ ====== ========== ========== ======== =========== ==== ==== ==== 2 ------------------------------------- % ============================ ========= ============ =============== =============== ============= ======== ======== ========= ======== 0.35 10,000,000.00 10,000,000.00 10,000,000.00 --- --- --- 1.56 9,600,000.00 9,600,000.00 9,600,000.00 --- --- --- 1995-2045 15.00 60,000,000.00 60,000,000.00 60,000,000.00 --- --- --- 0.81 2,430,000.00 2,430,000.00 2,430,000.00 --- --- --- 1998-2028 5.00 56,826,212.98 2,717,391.30 2,717,391.30 --- --- --- --------------- ------------- ------------- -------- -------- --------- 138,856,212.98 84,747,391.30 84,747,391.30 --- --- --- =============== =============== ============= ======== ======== ========= 3 =========================== ================ ========= ========= ============== =============== -4,350,404.14 10-217,520.20-1,957,681.86 19,807,798.33 17 582,582.30 13,399,393.02 7,633,090.07 45 84,812.12 6,700,156.83 ---------------- -------------- --------------- 23,090,484.26 449,874.22 18,141,867.99 ================ ============== =============== 57

3 ======== =============== =============== 1 207,576,618.43 230,623,384.50 1 2 5,112,068.93 11,055,674.37 2 3 1,000,000.00 --- 3 4,507,835.50 15,268,756.97 --------------- --------------- 218,196,522.86 256,947,815.84 =============== =============== 5% 5% 4 2003.01-06 2002.01-06 ======================================== ============= =============== --- --- --- --- 71,225,170.83-8,620,051.44 --- --- -449,874.22-449,874.22 --- --- --- --- ------------- ------------- 70,775,296.61-9,069,925.65 ============= =============== 1 ============================== ==== ================ =============== ========= ======= ============================== ==== ================ =============== ========= ======= 58

2 ============================== ================ ============ ======= ================ 300,000,000.00 --- --- 300,000,000.00 10,000,000.00 --- --- 10,000,000.00 USD27,860,000.00 --- --- USD27,860,000.00 300,000,000.00 --- --- 300,000,000.00 42,600,000.00 --- --- 42,600,000.00 10,000,000.00 --- --- 10,000,000.00 5,000,000.00 --- --- 5,000,000.00 5,000,000.00 --- --- 5,000,000.00 ============================== ================ ============ ======= ================ 3 ---------------------- -------------------- ----------------------- ========================= ================ ====== ============== ==== =============== ====== 143,552,640.00 24.94% --- --- 143,552,640.00 24.94% USD20,895,000.00 75% --- --- USD20,895,000.00 75% 268,500,000.00 89.50% --- --- 268,500,000.00 89.50% 42,600,000.00 100% -4,260,000.00 10% 38,340,000.00 90% 6,000,000.00 60% --- --- 6,000,000.00 60% 3,500,000.00 70% --- --- 3,500,000.00 70% 3,000,000.00 60% --- --- 3,000,000.00 60% ========================= ================ ====== ============== ==== =============== ====== 4 ================================== ==================== ================================== ==================== 59

5 340,500,000.00 6 ========== ================================== ============= ============== 2,608,317.06 2,608,317.06 343,205.97 113,666.96 28,798.21 30,679.75 746,401.30 743,334.65 1,717,185.86 2,240,690.42 1,410,000.00 1,410,000.00 3,327,478.42 45,500,000.00 --- 8,552.75 ========== ================================== ============= ============== 1 17 27 2 17 27 1 2003 8 1 28,802,556.29 2003 8 6 2,171,488.86 26,177,740.42 2 1,650 2003 7 10 3 =========================== ============== ============== ================ --- 5,000,000.00 2003 7 22 =========================== ============== ============== ================ 60

1 2002 23 4.15 9.06 1.61 4.06, 2002 4.15 2002, 2003 6 30 312,533,728.32 32,204,850.74 2003 2 18 169,500 1 94,500 2,000.00 18,900 61

2 75,000 2,000 15,000 2003 2 20 2003 2 18 1 A-3 379,201 169,500 2,000.00 169,500 209,701 6 7 8 28 29 30 21 8,250 2 2003 6 30 379,201 6 7 8 21 28 29 30 3 2003 6 30 379,201 169,500 6 7 8 21 8,250 379,201 169,500 6 7 8 28 29 30 21 8,250 4 5 379,201 1.5 2003 6 25 62

2 2003 974,870.43 1 1 2003 6 30 2,827,440.17 2 2003 6 30 7,534,017.92 958,108.00 2 1 2 1997 6 139 2002 11 18 2002 150 139 2003 3 23 2003 17 50% 2003 8 7 69.5 1 10% 2001 178,256,553.84 17,825,655.38 90% 10% 63

90% 10% 2 / ==== ================= ================================================= 1 2001 12 21 100% 2 2001 12 21 15% 3 2001 12 21 49% 4 2001 12 21 49% 5 2001 12 21 49% 6 2001 12 21 75% 7 2001 12 14 119 2801128 1,282.40 ==== ================= ================================================= 64