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Prince Frog International Holdings Limited (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) 1933 (l) 32

2010 1 OEM 173 (i) Intertek (HK) 2 Intertek (HK) 3 (ii) Pony 4 1. Euromonitor 2010 23.1% 10.0% 14.6% 2010 2010 15.5% 2. United Kingdom Accreditation Service 3. 2011 2 18 4. 1

5 1995 200620082010 6 Euromonitor 2006 3,325,400,0002010 5,336,600,000 12.6%2013 8,679,400,0002011 17.6% 2008 20092010 12 312008 320,300,000 2010 578,900,000 34.4% 2009 2009 26 20092009 2010 12 318,800,000 20,200,000 5. 2011 2 16 6. 2010 12 31Frost & Sullivan 2

200820092010 12 31 84,300,000 109,400,000 180,000,000 46.1% OEM OEM OEM 200820092010 12 31 OEM13.4% 12.1% 9.0% OEM OEM OEM 200820092010 12 31474,000,000 624,400,000 838,000,000 33.0%72,200,000 91,800,000 144,500,000 41.5% 3

200820092010 12 31 12 31 2008 2009 2010 % % % 202,419 42.7 255,621 40.9 359,011 42.8 44,042 9.3 72,921 11.7 100,747 12.0 39,012 8.2 39,860 6.4 55,694 6.6 8,769 1.4 20,199 2.4 34,811 7.4 55,409 8.9 43,238 5.2 320,284 67.6 432,580 69.3 578,889 69.0 67,132 14.2 97,100 15.6 165,350 19.7 17,173 3.6 12,324 2.0 14,689 1.8 OEM 69,377 14.6 82,392 13.1 79,063 9.5 473,966 100.0 624,396 100.0 837,991 100.0 OEM 4

200820092010 12 31 12 31 2008 2009 2010.......................... 473,966 624,396 837,991...................... (291,074) (385,412) (515,052).......................... 182,892 238,984 322,939............... 775 1,992 992............... (67,295) (94,811) (130,786)...................... (13,911) (14,714) (23,586)................. (635) (43) (21)...................... (2,410) (5,142) (1,638)................... 99,416 126,266 167,900................... (27,192) (34,467) (23,431)................... 72,224 91,799 144,469 12 31 2008 2009 2010...................... 72,224 91,799 144,469....... 27 16 2,191............... 72,251 91,815 146,660 6

12 31 2008 2009 2010............. 27,703 46,140 82,067................. 4,112 25,280 20,466...................... 3,555 3,375 144................. 250 550............... 21,141 100 8,387............... 56,761 75,445 111,064.......................... 30,384 34,323 34,737....... 35,609 74,559 59,149............... 10,731 11,091 26,144................... 11,992 2,337 3,731................... 2,997 3,662 2,350............. 27,786 114,442 72,299................. 119,499 240,414 198,410....... 9,390 35,270 33,894....... 6,978 14,028 17,211........... 45,700 85,728............... 1,218 2,025 89,565...................... 8,191 12,210 7,349................. 71,477 149,261 148,019................. 48,022 91,153 50,391............. 104,783 166,598 161,455................. 20,000 15,800............... 20,000 15,800...................... 104,783 146,598 145,655................... 11 11 11.......................... 104,772 146,587 145,644...................... 104,783 146,598 145,655 Joyful Paramount Joyful Paramount 2010 7 Joyful Paramount 2010 7 29 7

Joyful Paramount 10,000,0001,500,0002,000,00010,7851,6182,157 2010 8 2009Joyful Paramount 9.42% 1.41% 1.88% Joyful Paramount 73 68 53635 1161127336 82 BODY & EARTHGREEN CANYON SPA [ ] 94 2 (1) 2011 6 8

3067,700,000 95,000,0002011 1 1 [ ] 20% (i)(ii) (iii) 9

2011 6 22 [ ] 0 3 2004 11 29 4 12 22(1961 32 2011 1 11 12

2011 2 28 7,120,000 (Frog Prince) 76/768/EEC 2011 6 22 G. 1. 2011 6 22 Euromonitor Euromonitor International Ltd Euromonitor Euromonitor Frost & Sullivan Frost & Sullivan Frost & Sullivan Frost & Sullivan 13

2001 5 18 20,000,000 51% 49% 1995 1 192001 Intertek (HK) Intertek (HK) United Kingdom Accreditation Service 2010 3 10 5,000 0.1 Joyful Joyful Business Holdings Limited2009 6 4 Jie Liao [ ] 14

OEM Paramount PARAMOUNT STAGE LIMITED2010 5 26 Wan Chi Keung PONY Pony Testing International Group 2005 2 28 10,000,000 2002 7 5 10,000 2010 3 12 5,0000.1 15

2010 12 3 5,0000.1 2009 12 312011 6 22 25 0.01 2008 7 16 Lina Xu 51% 48% 1% 2 41 200820092010 12 31 2009 12 31 2011 3 20 2011 4 22 16

2010 3 10 5,0000.1 % 17

(i)(ii) (iii) (i) (ii) (iii) (iv) (v) 173 (i) (ii)(iii) (iv)(v) 19

(vi) 173 20

(i) Intertek (HK) 1 Intertek (HK) (ii)pony 2 1. 2011 2 18 2. 2011 2 16 22

200820092010 12 31 27.7% 24.0% 22.5% 15 30 23

[ ] OEM OEM OEMOEM OEMOEM OEM OEM 2011 7 OEMOEM OEM 24

(i) (ii) (iii) (iv) 2011 4 30 65,800,00015,800,000 50,000,000 18,200 (a) (b)2011 5 25

2007 8 27 2008 9 1 2011 6 2 27

2007 3 162008 1 1 2007 12 6 2008 1 1 25% 2008 201020112012 12 31 25%12.5% 28

25% 10% 10% 29

2007 6 29 2008 1 1 30

2008 1 1 5 15 31

56 7 806 18 2 304 5 1 302 13 8 302 8 1804 33

36 3 17B 101 80 52 10 C 13 34

15 43 77 334 Conyers Dill & Pearman Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 8 18 1 3 6 35

.................... Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands... 8............. 1 2 36...................... www.princefrog.com.cn................. (ACS ACIS)...................... Butterfield Fulcrum Group (Cayman) Limited Butterfield House 68 Fort Street P. O. Box 609 Grand Cayman KY1-1107 Cayman Islands............... 183 17 1712 1716 36

Euromonitor Frost & Sullivan Euromonitor Frost & Sullivan G. 9. Euromonitor Euromonitor G. 9. Euromonitor (i) Euromonitor (ii) (iii)euromonitor Euromonitor Frost & Sullivan Frost & Sullivan G. 9. Frost & Sullivan 2010 24 2,300 Euromonitor Frost & Sullivan Euromonitor Frost & Sullivan Euromonitor Frost & Sullivan 38,000330,000 Euromonitor Frost & Sullivan 37

70 2001 109,6552010 397,983 15.4% 2001 8,591.82010 29,688.3 14.8% 20012010 50,000 40,000 30,000 20,000 10,000 0 29,688.3 23,647.6 25,540.8 20,117.5 16,456.2 14,143.7 12,299.4 8,591.8 9,370.3 10,510.4 39,798.3 31,404.5 34,090.3 26,581.0 10,965.5 12,033.3 13,582.3 15,987.8 18,493.7 21,631.4 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Euromonitor 200120101.56220106.368 32.5%47.5% 38

20012010 1,400 1,200 1,000 800 600 400 200 0 795.6 37.7% 480.6 782.1 39.1% 502.1 768.5 40.5% 523.8 757.1 41.8% 542.8 745.4 43.0% 562.1 737.4 43.9% 577.1 727.5 44.9% 593.8 721.4 45.7% 606.7 712.9 46.6% 621.9 703.8 47.5% 636.8 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Euromonitor Euromonitor 2001 6,860.02010 19,109.0 12.1%2001 2,366.02010 5,919.0 10.7% 39

20012010 21,000 19,109.0 18,000 15,781.0 17,175.0 15,000 13,786.0 12,000 9,000 6,860.0 7,703.0 8,472.0 9,422.0 10,493.0 11,759.0 6,000 3,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Euromonitor 7,000 6,000 5,000 4,140.0 4,761.0 5,153.0 5,919.0 4,000 3,000 2,366.0 2,476.0 2,622.0 2,936.0 3,255.0 3,587.0 2,000 1,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Euromonitor 40

2001 28,1002010 74,65511.5% 20012010 8,000 4,000 2,810.0 3,107.0 3,408.0 3,861.8 4,266.0 4,858.5 5,501.1 6,161.9 6,729.9 7,465.5 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Euromonitor 2005 201080% 65%520,000 Euromonitor 201013.405 53,200,000130,300,000 41

2010 29.0% 53,200,000 130,300,000 71.0% Euromonitor Euromonitor 2006 3,325,400,0002010 5,336,600,000 12.6% Euromonitor 2013 8,679,400,00020112013 17.6% Euromonitor 600 201064.0% Euromonitor 20112013 60.0% 42

20062013 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 3,325.4 751.3 1,665.6 569.1 339.4 3,654.9 856.0 1,708.3 707.3 383.3 4,111.3 980.1 1,876.4 807.7 447.1 4,632.6 1,142.8 2,020.6 937.9 531.3 5,336.6 1,278.8 2,274.3 1,139.9 6,276.6 7,413.7 8,679.4 2006 2007 2008 2009 2010 2011 2012 2013 643.6 1,569.2 2,521.6 1,391.5 794.3 1,816.4 2,896.2 1,718.7 982.4 2,057.5 3,302.6 2,136.1 1,183.2 Euromonitor 2006 2,165,300,0002010 3,545,800,000 13.1% Euromonitor 20135,757,800,0002011 2013 17.6% Euromonitor 2010 65.0%20112013 60.0% 43

20062013 6,000 5,000 4,000 3,000 2,000 1,000 0 5,757.8 846.4 4,902.5 769.7 4,165.1 3,545.8 674.7 2,061.3 3,069.2 595.7 1,774.7 2,715.3 531.0 2,408.6 1,536.9 2,165.3 480.6 1,329.7 436.0 400.6 1,181.6 1,641.0 1,072.5 1,387.4 907.3 977.9 1,162.1 975.1 828.7 716.8 547.8 623.8 309.6 370.9 445.3 527.9 645.3 791.4 970.7 1,209.1 2006 2007 2008 2009 2010 2011 2012 2013 Euromonitor Euromonitor 200922.5% 33.1% 2006 2007 2008 2009 2006 2009................................... 9.6 10.9 12.3 13.0 10.6%................................... 41.7 40.9 40.2 39.3-2.0%................................... 40.6 46.5 50.1 45.7 4.0%................................... 56.5 57.9 57.2 57.9 0.8% Euromonitor Euromonitor Euromonitor 44

Euromonitor Euromonitor 2009 PH 45

2010 39.3% Euromonitor 2006 1,308,300,0002010 2,281,700,000 14.9%2011 2,732,300,0002013 3,926,000,000 19.9% 4,000 3,926.0 3,000 2,000 1,308.3 1,486.8 1,732.0 1,975.4 2,281.7 2,732.3 3,283.3 1,000 0 2006 2007 2008 2009 2010 2011 2012 2013 Euromonitor Euromonitor 50 6.0 22.02010 84.0%5022.050 6.02010 1.3% 47

14.7% Euromonitor 2013 85.0% 2010 29,200,000 335,900,000 1.3% 14.7% 84.0% 1,916,700,000 Euromonitor Euromonitor 2010 200820092010 Euromonitor 200820092010 200817.8%201023.1% 48

20082010 2008 2009 2010 2008 2009 2010................... 475.7 505.9 550.1 27.5% 25.6% 24.1%................... 308.7 381.0 527.2 17.8% 19.3% 23.1%..................... 153.4 199.4 249.2 8.9% 10.1% 10.9%..................... 74.7 89.7 106.7 4.3% 4.6% 4.7%..................... 65.8 85.8 99.6 3.8% 4.3% 4.4%..................... 57.7 69.2 82.4 3.3% 3.5% 3.6%..................... 56.6 61.3 64.5 3.3% 3.1% 2.8%..................... 46.4 54.6 63.9 2.7% 2.8% 2.8%....................... 14.6 16.2 18.2 0.8% 0.8% 0.8%..................... 13.8 15.5 17.4 0.8% 0.8% 0.8%....................... 464.6 496.8 502.5 26.8% 25.1% 22.0%....................... 1,732.0 1,975.4 2,281.7 100.0% 100.0% 100.0% Euromonitor 2006 681,600,0002010 1,212,900,000 15.5%2011 1,450,500,000 2013 2,083,500,000 19.9% 20062013 2,400 2,000 1,737.0 2,083.5 1,600 1,200 800 681.6 783.8 915.1 1,046.9 1,212.9 1,450.5 400 0 2006 2007 2008 2009 2010 2011 2012 2013 Euromonitor 49

2010 31.2% Euromonitor 2006 946,000,0002010 1,572,900,000 13.6% 2011 1,873,400,0002013 2,663,800,000 19.2% 20062013 3,000 2,663.8 2,239.2 2,000 1,000 946.0 1,063.6 1,220.5 1,373.5 1,572.9 1,873.4 0 2006 2007 2008 2009 2010 2011 2012 2013 Euromonitor Euromonitor 200 6.0 20.02010 77.0%20020.0 2006.02010 1.5% 21.5% Euromonitor 201380.0% 50

2010 337,500,000 24,300,000 1.5% 21.5% 77.0% 1,211,100,000 Euromonitor Euromonitor 20082010 2008 2009 2010 2008 2009 2010................... 373.0 389.6 429.5 30.6% 28.4% 27.3%................... 69.6 114.5 157.9 5.7% 8.3% 10.0%..................... 65.7 85.5 106.8 5.4% 6.2% 6.8%..................... 61.7 72.8 86.8 5.0% 5.3% 5.5%..................... 55.2 69.6 82.6 4.5% 5.1% 5.3%..................... 47.6 57.1 69.7 3.9% 4.2% 4.4%..................... 42.2 49.5 62.0 3.5% 3.6% 4.0%..................... 45.6 49.4 53.3 3.7% 3.6% 3.4%....................... 11.4 12.8 14.7 0.9% 0.9% 0.9%....................... 5.7 7.6 10.7 0.5% 0.5% 0.7%....................... 442.8 465.1 498.9 36.3% 33.9% 31.7%....................... 1,220.5 1,373.5 1,572.9 100.0% 100.0% 100.0% Euromonitor 51

2006 708,200,0002010 1,201,500,000 14.1% 2011 1,429,200,0002013 2,031,600,000 19.2% 20062013 2,400 2,000 1,600 1,200 800 708.2 805.8 926.7 1,046.1 1,201.5 1,429.2 1,702.4 2,031.6 400 0 2006 2007 2008 2009 2010 2011 2012 2013 Euromonitor Euromonitor 2006 870,900,0002010 971,200,000 2.8% 2011 1,014,900,0002013 1,090,300,000 3.6% 1,200 900 870.9 883.0 906.2 928.0 971.2 1,014.9 1,055.5 1,090.3 600 300 0 2006 Euromonitor 2007 2008 2009 2010 2011 2012 2013 52

2010 60.0% 2010 201014.6% 20082010 2008 2009 2010 2008 2009 2010..................... 141.7 147.2 152.9 15.6% 15.9% 15.7%................... 105.6 136.3 141.5 11.7% 14.7% 14.6%............... 107.7 115.3 125.7 11.9% 12.4% 12.9%................. 91.7 97.2 102.1 10.1% 10.5% 10.5%..................... 55.5 57.8 61.0 6.1% 6.2% 6.3%..................... 49.9 52.0 54.9 5.5% 5.6% 5.7%..................... 40.0 45.6 50.2 4.4% 4.9% 5.2%..................... 38.5 37.0 35.6 4.3% 4.0% 3.7% QQ.................. 27.4 30.9 33.0 3.0% 3.3% 3.4%................... 28.4 29.1 30.5 3.1% 3.1% 3.1%....................... 219.8 179.6 183.8 24.3% 19.4% 18.9%....................... 906.2 928.0 971.2 100.0% 100.0% 100.0% Euromonitor Euromonitor 2006 6,863,500,0002010 20,423,700,000 31.3% 2011 23,725,100,0002013 30,758,200,000 13.9% 32,000 24,000 16,000 13,552.5 16,811.4 20,423.7 23,725.1 27,192.4 30,758.2 8,000 6,863.5 10,057.2 0 2006 2007 2008 2009 2010 2011 2012 2013 Euromonitor 53

Euromonitor 20049.0%2009 39.0% Euromonitor 80% 54

60% 50% 40% 30% 20% 10% 0% 47.7% 26.5% 9.7% 6.8% 4.7% 2.7% 1.8% Frost & Sullivan 60% 50% 40% 30% 20% 10% 0% 48.9% 18.7% 13.4% 8.4% 5.7% 3.1% 1.9% Frost & Sullivan Euromonitor 2006 5,000,400,0002010 6,473,100,000 6.7% Euromonitor 2011 6,783,800,0002013 7,412,100,000 4.5% 55

20062013 10,000 8,000 6,000 5,000.4 5,260.0 5,640.1 5,971.2 6,473.1 6,783.8 7,096.3 7,412.1 4,000 2,000 0 2006 2007 2008 2009 2010 2011 2012 2013 Euromonitor 2010 77.7% 20082010 2008 2009 2010 2008 2009 2010....................... 991.2 1,044.4 1,110.6 17.6% 17.5% 17.2%....................... 642.5 700.0 774.8 11.4% 11.7% 12.0%....................... 648.6 697.2 759.1 11.5% 11.7% 11.7%....................... 484.5 518.9 579.1 8.6% 8.7% 8.9%....................... 375.3 459.8 500.4 6.7% 7.7% 7.7%..................... 346.9 364.0 387.6 6.1% 6.1% 6.0%..................... 122.8 177.5 302.5 2.2% 3.0% 4.7%..................... 245.2 262.5 294.0 4.3% 4.4% 4.5%..................... 155.0 169.4 184.2 2.7% 2.8% 2.9%....................... 117.5 125.6 138.0 2.1% 2.1% 2.1%....................... 1,510.6 1,451.9 1,442.8 26.8% 24.3% 22.3%....................... 5,640.1 5,971.2 6,473.1 100.0% 100.0% 100.0% Euromonitor Euromonitor 56

20082.2%20104.7% Euromonitor 2006 509,700,0002010 675,600,000 7.3% Euromonitor 2011 716,800,0002013 807,600,000 6.1% 20062013 900 800 700 600 500 400 300 200 100 0 509.7 2006 807.6 760.8 716.8 675.6 617.4 577.7 541.9 2007 2008 2009 2010 2011 2012 2013 Euromonitor 2010 78.2%2010 57

20082010 2008 2009 2010 2008 2009 2010....................... 142.9 156.2 172.2 24.7% 25.3% 25.5% All Joy..................... 111.0 121.2 129.7 19.2% 19.6% 19.2%....................... 78.1 84.6 93.4 13.5% 13.7% 13.8%..................... 33.5 36.6 39.5 5.8% 5.9% 5.8%..................... 31.4 22.5 26.9 5.5% 3.6% 4.0%............... 21.3 22.6 23.7 3.7% 3.7% 3.5%....................... 16.6 17.4 20.0 2.9% 2.8% 3.0%....................... 9.9 10.3 11.5 1.7% 1.7% 1.7%..................... 6.5 0.9% Bagus...................... 4.6 4.8 5.2 0.8% 0.8% 0.8%....................... 128.4 141.2 147.0 22.2% 22.9% 21.8%....................... 577.7 617.4 675.6 100.0% 100.0% 100.0% 58

1993 12 291994 7 1 2005 10 27 2006 1 1 1986 4 122000 10 31 1990 12 122001 4 12 2007 10 31 2007 12 1 1989 11 13 1990 1 1 2005 5 20 4 59

2005 7 9 2005 9 1 2010 4 21 2010 6 1 60

20 10 2007 8 27 2008 9 1 61

2004 4 16 2004 6 1 (A) (B)(C) 3040 2008 9 12 2008 12 29 100,000,000 62

2004 4 6 2004 7 1 2004 8 17 2005 3 31 2005 6 1 2008 1 11991 4 9 1991 7 1 63

30% 3%(a) (b) (c) 15% 24% 50% 2007 3 16 2008 1 1 25% 2007 12 6 2008 1 12007 3 16 (i) 2008(ii) 2008 2008 2008 11 5 2009 1 1 2008 12 15 2009 1 1 2(2)(3)17% 17% 2008 11 5 2009 1 1 64

30% 2010 10 18 2010 12 1 19851986 1985 2 8 1985 1994 3 12 1994 1 1 7% 5% 1% 2005 8 20 2005 10 1 3% 1996 1 291996 4 1 1997 1 142008 8 1 65

20% 20%10%2008 1 1 2006 8 21 25%5% 25%10% 2009 2 2 a) b) c) 2009 10 1 66

1993 2 222000 7 8 1993 10 31 1994 1 1 2007 8 30 2008 8 1 a) b)c) d) 67

e) f) g) 1% 10% 1997 12 29 1998 5 1 68

5,000 2010 2010 4 1 2001 10 27 2001 12 1 2008 12 27 2009 10 1 69

2004 11 5 2004 12 20 (IP) 1989 12 26 70

1998 11 29 2004 12 29 2005 4 1 71

2007 6 29 2008 1 1 1999 1 22 30 2003 4 27 2004 1 1 72

2010 10 28 2011 7 1 15 110% 73

1994 12 14 1995 1 1 0.2% 2004 3 24 30 20 30 5% 2002 6 29 2002 11 1 74

2003 3 11 2003 6 12009 1 14 2009 5 1 30 2002 1 26 2002 3 15 2005 8 30 2005 10 1 75

[ ] 2011 1 11 2010 1995 68,000 [] 50.0% 25.0% 25.0% 1995 OEM 1999 2000 1995 19955173 20052006 20062009 2004OEM 2005 2006200850 2010 76

1995 1999 2003 2004 2005 2006 2009 2010 14,0002004 OEM 2006200850 144,000 55,8542011 3 2011 5 2010 Joyful Paramount (1) 1995 1 19 68,000 50.0% 25.0% 25.0% 1994 12 8 1994 12 868,000 1995 6 11 68,0001995 8 16 386,000 50.0% 25.9% 24.1% 77

1995 7 61995 7 6 2001 2 12 93,000 2001 2 2001 3 7 2000 12 31386,349 50% 2001 2 22001 5 18386,0001,000,000 2001 5 102001 5 8 2003 7 311,000,000 5,000,000 2003 7 282003 7 28 2006 9 65,000,00020,000,000 2006 8 282006 8 28 2009 5 27 1%200,000 2009 6 22 51% 49% [ ] 78

(2) (a) 2002 7 5 2010 5 25 51% 49% 10,000 10,000 1.00 5,1004,900 [ ] 2010 4 122010 5 25 5,1004,900 2011 1 6 (b) 2005 2 28 65,0002005 1 21 2008 6 23 65,00010,000,00065,00025,000,000 2009 8 11 2009 8 42,000,000 2010 8 302010 8 2610,000,000 2009 2009 79

(3) 51% 49% 51% 49% 100% (1) 2010 1 1 2010 1 114,364,000 108,392,0002010 1 1 3,413,000 2010 12 314,330,000 80

100% (i) 14,700 2009 64,700 OEM (ii) (iii) (i) (ii) 2012 12 31 81

[ ] (i) (ii) (i) 2009 12 31 160,000BODY & EARTHGREEN CANYON SPA500,000 3,428,000 2010 7368 5 3635 1161 12733682 BODY & EARTHGREEN CANYON SPA 2010 12BODY & EARTHGREEN CANYON SPABODY & EARTHGREEN CANYON SPA[ ] 6BODY & EARTHGREEN CANYON SPA16 112 6 82

352 32 [ ] 94 2 3 (ii) 2006200850 2010 1 1 83

7,120,000 (iii) (a) 8 2010 1 12011 1 26 OEM 2010 1 12012 12 31 (b) Mingxin8 Zhangzhou Mingxin Infrastructure Projects Company LimitedMingxin 2009 12 312011 2 14 2010 1 1Mingxin Mingxin 2004 11 24 Mingxin 12,255 Mingxin (c) 2010 1 1 OEM 2012 12 31 (iv) 84

2011 4 26 2011 7 15 2012 12 31 (v) 2009 12 31 35,376,0002010 12 31 2009 12 31 2009 12 31 84,939,000 2009 12 31 85

2010 12 31 2009 12 31 2009 12 31 31,608,000 2009 12 312010 12 31 2010 12 31 (vi) 571 2009 12 31 2010 1 1 2010 1 1 2012 12 31 2012 6 30 86

2012 12 31 (2) 2010 3 105,000 50,000 0.12010 3 18 2010 3 105,000 50,000 0.12010 3 18 2010 3 12 5,000 50,000 0.12010 3 18 51492010 8 31 20,000 200,000 0.1 2010 4 12 5,1004,900 50,94948,951 87

51% 49% 100% (3) Joyful Paramount (a) Joyful Paramount 2010 Joyful Paramount 2010 7 Joyful Paramount 2010 7 29 Joyful Paramount 10,000,0001,500,0002,000,00010,7851,6182,157 2010 8 2009Joyful Paramount 9.42% 1.41% 1.88% (b) Joyful Paramount 88

939601939 Joyful 2009 6 4 Jie Liao Joyful Joyful Paramount2010 5 26 Wan Chi Keung Paramount (c) Joyful Paramount 2010 Joyful Paramount 2010 8 18 Joyful Paramount [ ] Joyful Paramount 2009 201090,000,000 115,000,000 Joyful Paramount 20092010 20092010Joyful Paramount 89

(d) Joyful Paramount Joyful Paramount 100% 100% 44.52% 42.77% 9.42% 1.41% 1.88% 100% 100% (4) 2010 12 3 5,000 50,000 0.1 100 2011 1 6 100 2011 1 11 2011 1 11 Codan Trust Company (Cayman) Limited 2011 1 11 99 50,000 5,000,000 0.01 2011 2 22 (i) 90

445,100(ii)100 100% 100% 44.52% 42.77% 9.42% 1.41% 1.88% 100% 100% 100% 100% 100% 2011 6 13 Joyful Paramount Joyful Paramount 427,70094,20014,10018,800 Joyful Paramount4,277943141188 Joyful Paramount Joyful Paramount 2011 6 20 Joyful Paramount 91

(i) 1104,750,461.29 Joyful Paramount (ii) 1 (iii) 1 100104,750,461.29 100(iv)(iii) 104,750,461.29 1 100 2006 8 8[ ] 2006 9 82009 6 [ ] 2 92

[ ][ ] (i) 2005 2 28 (ii) 2000 9 1 (i) (ii) (1) 2011 3 28 2005 10 21 752005 11 1 93

75 75 30 2011 5 12 75 94

100% 100% 100% 44.52% 42.77% 9.42% 1.41% 1.88% 100% 100% 100% 100% 96

2010 1 OEM 173 (i) Intertek (HK) 2 Intertek (HK) 3 (ii) Pony 4 5 1995 1. Euromonitor 2010 23.1% 10.0% 14.6% 2010 2010 15.5% 2. United Kingdom Accreditation Service 3. 2011 2 18 4. 5. 2011 2 16 97

200620082010 6 Euromonitor 2006 3,325,400,0002010 5,336,600,000 12.6%2013 8,679,400,0002011 17.6% 2008 20092010 12 312008 320,300,000 2010 578,900,000 34.4% 2009 2009 26 20092009 2010 12 318,800,000 20,200,000 200820092010 12 31 84,300,000 109,400,000 180,000,000 46.1% 6. 2010 12 31Frost & Sullivan 98

OEM OEM OEM 200820092010 12 31 OEM13.4% 12.1% 9.0% OEM OEM OEM 200820092010 12 31474,000,000 624,400,000 838,000,000 33.0%72,200,000 91,800,000 144,500,000 41.5% Frost & Sullivan 20062008 50 2010 2010 99

Euromonitor 2010 2010 130,300,000 2010 5,336,600,0002013 8,679,400,000 600 201064.0% 173 100

248 46 (i) Intertek (HK) 1 Intertek (HK) (ii) Pony 2 16 14 15CBE 16 10 1. 2011 2 18 2. 2011 2 16 101

2010 201131 KA431621 102

36 18 62 23 (i) (ii)(iii)(iv) KA 18 KA 103

(i) (ii) (iii) 55,854 2011 5 46 20112013 2013 80,00015 2011 9 104

OEM Frost & Sullivan 79 1999 2004 2002 2000 105

2003 1999 33 1999 1999 37 2001 2004 48 2009 2009 66 2006 106

42 2005 2005 19 2006 2006 OEM OEM OEM OEM200820092010 12 31 OEM13.4% 12.1% 9.0% OEM OEM (i) 107

(ii)(iii) 248 E 200820092010 12 31 12 31 2008 2009 2010 % % % 202,419 42.7 255,621 40.9 359,011 42.8 44,042 9.3 72,921 11.7 100,747 12.0 39,012 8.2 39,860 6.4 55,694 6.6 8,769 1.4 20,199 2.4 34,811 7.4 55,409 8.9 43,238 5.2 320,284 67.6 432,580 69.3 578,889 69.0 67,132 14.2 97,100 15.6 165,350 19.7 17,173 3.6 12,324 2.0 14,689 1.8 OEM 69,377 14.6 82,392 13.1 79,063 9.5 473,966 100.0 624,396 100.0 837,991 100.0 OEM 108

(i)(ii) OEMOEM 200820092010 12 31 58,300,000 99,200,000 145,100,00012.3% 15.9% 17.3% 2009 2009 200820102008 12 311072010 12 31 160173 109

110 (1) (1) (1) (9) (18) (10) (4) (4) (3) (2) (4) (1) (5) (15) (9) (12) (1) (9) (1) (1) (15) (13) (1) (6) (8) (3) (4) (1) (5) (6) OEM OEM OEM OEM OEM

12 201010 5 2008 20092010 12 311,300,000 1,500,000 2,700,0000.27% 0.24% 0.32% 1995 111

115210 OEM 53.................................................................................................................................................................................................................. 112

12 31 2008 2009 2010............................. 14 57,841 12.2% 32 72,021 11.5% 32 74,702 8.9% 13.6%............................. 27 92,874 19.6% 35 107,163 17.2% 40 123,649 14.8% 15.4%............................. 16 56,845 12.0% 32 92,945 14.9% 41 166,923 19.9% 71.4%............................. 11 48,172 10.2% 11 67,230 10.8% 16 83,958 10.0% 32.0%............................. 11 37,089 7.8% 31 68,892 11.0% 35 124,250 14.8% 83.0%............................. 8 37,603 7.9% 17 60,142 9.6% 19 79,517 9.5% 45.4%............................. 20 79,913 16.9% 16 80,245 12.9% 7 109,768 13.1% 17.2%..................... 107 410,337 86.6% 174 548,638 87.9% 190 762,767 91.0% 36.3%......................... 63,629 13.4% 75,758 12.1% 75,224 9.0% 8.7%............................. 473,966 100.0% 624,396 100.0% 837,991 100.0% 33.0% 200820092010 12 31 86.6% 87.9% 91.0% 2008 12 31410,300,000 2010 12 31 762,800,000 36.3% 2010 1 113

2008 2009 2010 1 1............... 98 107 146............................ 9 94 50............................ (55) (36) 12 31............. 107 146 160 (i)20092010 (ii) (iii)2009 2009 37 200820092010 12 31 10,400,000 10,500,000 17,900,000 114

3060 (i)30% (ii)3045 65180 OEM OEM 200620082010 115

2005 100 2008 52 2010 2011 2 28 7,120,000 2011 3 10 116

200820092010 12 31 53,400,000 66,600,000 82,300,000 11.3% 10.7% 9.8% (i)(ii) (iii) (iv) (v)(vi) (a)(b) 117

55,854 8 9,251 8 5,560 12 31 (1)...................... 2008 6 4,802 2,885 60.0% 2009 6 4,802 5,120 106.6% (2) 2010 6 4,802 4,831 100.6% (2)............... 2008 5 7,882 3,629 46.0% 2009 5 7,882 4,979 63.2% 2010 5 7,882 9,314 118.2% (2) (1) 12302 (2) 100% 2010 118

144,000 2011 5.... 55,854 (i) 20,000 2011 5 99,000,000 (ii) 60,000.... 33,350 990 2013 150,000,000.... 55,200 500,000,000 2013 150,000,000 55,8542011 32011 5 3016 11 2012 12 31 46 20,00060,0002010 316.5% 661.2% 2008 246,500,0002010 459,800,000 36.6% 119

20112013 399,000,000 [ ] OEM 2011 5 6 2008 20092010 12 31(i) 2010 18.3% 18.4% 22.6%(ii) 15.6% 16.7% 14.2% (a)(b)(c)(d) (e)30 120

200820092010 12 31 80,500,000 92,600,000 116,000,000 27.7% 24.0% 22.5% 21 35 700,000 800,000 1,600,000 2011 2 252011 3 2014 2200,000 (i) (ii) (iii) 20082009 2010 12 316110582 248(i)8449 2033(ii) 25 (iii)(iv)26 121

2011 6 22001 PH 122

2009 200820092010 12 31 241914............................................................................................................................................................ 200820092010 12 31 86,300,000 122,300,000 171,600,000 29.7% 31.7% 33.3% 123

200820092010 12 31107,300,000 149,500,000 194,800,00036.9% 38.8% 37.8% 30 200820092010 12 31 116,800,000 126,300,000 127,100,000 40.1% 32.8% 24.7% 12.4% 9.3% 6.5% 2006 10 19 20092010 49.5% 50.5% 20 20082009 124

50.5%50.5% 200820092010 18,800,000 32,400,000 4.8% 6.1% 2009 7 23 50.5% 1,770,00050.5% 2009 7 31 2008 20087,800,000 2009 1 125

10 (i) (ii) 2008 2009 2010 126

Euromonitor 2010 201023.1% 24.1% 2010 10.0% 27.3% 20085.7%201010.0% 200830.6%201027.3% 2010 14.6%15.7% 2008 12 311072010 12 31160 Euromonitor 2010600 64.0% 127

200820092010 12 31 8179141,066 2010 12 31.............................................................. 536............................................... 60.......................................................... 43.............................................................. 30................................................... 371.............................................................. 26.............................................................. 1,066 200820092010 12 31 20,800,000 27,700,000 36,300,000 4.4% 4.4% 4.3% 2011 1 18 2010 10 1,200,000 10,000 50,000 2011 1 302010 10 2010 10 128

174 44382 C. 2. 20052006200850 129

8 18,769 17,480 64,726 55,854 130

1. 107 Zhengwei Road 1,133 2. 460 3. 1,200 4. 600 5. 8 9,251 6. 8 5,560 (a) 131

(b)2011 5 2011 1 27 2011 3 29 132

OEM200820092010 12 31 13.1% 10.7% 43.4%OEM OEMOEMOEM OEM OEM OEM OEM OEM OEMOEM OEM 2011 7 OEMOEM OEM OEM OEM OEM OEM OEM OEM OEM OEM 133

217,000 140,000 422,000 200,000 I. A. 122 2002 7 5 2002 7 5 2008 12 312009 12 31 2010 10 4 122 122 122 300,000 12 134

B. [ ] 2011 2 11 2011 2 16 (i)2011 2 11 (ii) 122(1B) 2011 2 24 122 C. (a) 2010 10 (b) [ ] (c) (d) 135

(e) (f) [ ] (g) [ ] (h) I. A. (i) 2010 61,100,0007.3% 500,000 2011 3 (ii) 2010 9 2 136

2010 4,400,000 3,800,0000.5% 0.5% 500,000 2011 2 (iii) 2010 9,000,0001.1% 2011 1 1 (iv) 2010 24,900,0003.0% 2011 2 137

(v) 2010 2010 129,000,00015.4% 100,000 B. (a) 2011 2 28 (b) 2011 2 28(a) 2011 2 (b)2011 1 1 (c) (d) 138

D. 2011 7 E. (A)(i) (v) II. A. (i) 2009 12 2005 2009 12 140

2010 6 141

2010 8 (ii) 20042008 2009 2011 3 (i) 2009 142

2007 1 20092010 2011 2 16 Pony B. (a) 2011 6 2(A)(i) (ii) 1995 (b) 2011 6 2 2010 1 C. I. 143

2011 7 2011 9 (i) Intertek (HK) 1 Intertek (HK) (ii) Pony 2 Intertek (HK) Pony D. 1. 2011 2 18 2. 2011 2 16 144

145

[ ] 30% (i) (ii).......... 51% 49%........ 51% 48% Lina Xu 1% 2008 7 16 BODY & EARTHGREEN CANYON SPA BODY & EARTHGREEN CANYON SPAOEM 805,000 OEM OEM 200820092010 12 31 8,300,000 8,100,000 32,600,000 1.8% 1.3% 3.9% 146

OEM (i) (ii) (a) (b) (i) 10% (ii) 5% 147

(i) (ii) (iii) 30% (i) (ii) (iii) (iv) 148

[ ] [ ] OEM 145,000 55,8542011 3 2011 5 3016 11 2012 12 31 46 20,00060,0002010 316.5% 661.2% 149

[ ] [ ] 150

[ ] 14A [ ] 51% 49% 51% 48% [ ] (i)14a.45 14A.47 Mingxin (ii)14a.35 14A.37 14A.40 14A.45 14A.48 1. 89,251 53,400 2010 1 12012 12 31 2. Mingxin Mingxin 8 12,255700 Mingxin 4,846 151

Mingxin Mingxin Mingxin 27,743 22,059 Mingxin 2004 12 12014 12 1 3. OEM 204,000 110% 2010 1 12012 12 31 4. 2010 1 1(i)2012 12 31(ii) 5. 2011 6 13 2011 6 132014 6 12 152

Mingxin 0.1%5%14A Mingxin Mingxin 5%10,000,000 14A [ ] [ ] 14A.4714A.48 153

2010 12 31 12 31 2008 2009 2010 1........... 640,000 2.Mingxin........... 321,000 3......... 2,448,000 4............... 8,682,000 5............... 8,336,000 8,073,000 32,646,000 14A.35(2) 12 31 2011 2012 2013 1. Mingxin................ 961,800 961,800 321,000 1 2................. 2,448,000 2,448,000 1 3....................... 10,000,000 12,000,000 2 4....................... 39,420,000 45,333,000 52,133,000 3 1. 2012 12 312013 12 31 Mingxin Mingxin 2011 4 30 Mingxin 320,000 2011 4 30816,000 2. 2012 12 31201020112012 20%20102012Euromonitor 17.8%2011 4 30 5,243,000 3. 2011 12 3123,000,0002011 20122013 12 3115% 200820092010 12 31 9% 2011 4 30 14,519,000 154

14A 14A.35(1)14A.35(2)14A.3614A.4014A.45 2013 12 31 Mingxin 14A.35(3) (4) 155

51 16 1999 Frog Prince 14 15CBE 2010 6 20042010 1 EMBA2004 2007 52 16 1976 41 10 2002 1 1991 31997 81997 9 1999 2 1999 32001 12 1988 19971994 44 1995 5 8 2003 3 2004 82006 10 1986 156

3411 2010 3 1999 82004 3 2004 32007 3 Yunnan Phosphate Fertilizer Plant Company Limited 2007 102009 12 20091999 342011 2 18 11 199920012001 2006 2007 52007 8 TPG Growth Capital (Asia) Ltd. 20082010 6 PPF Financial Group PPF Hong Kong Limited 1999 2005 2008 592011 2 18 Industry Guidance Department Office 20051975 3 1978 91996 91999 7 352011 2 18 20042007 20072008 20082010 UBS Investment Bank Bicon International (HK) Limited 19971999 157

382011 2 1815 19941996 Moores Rowland 19962001 2001 9 63820072010 19901994 1994 3310 2001 21998 2007 3310 2001 10 199619982000 44 21 2005 5 151990 8.17 8.17 158

372011 2 182011 6 22 10 8207 2011 12 31 2,222,000 159

5,000,000,000................................ 50,000,000 [ ] [ ] [ ] % 1,000,001.......... 10,000.01 [ ] [ ] [ ]................... [ ] [ ] [ ] [ ]..................... [ ] [ ] [ ]................................... [ ] [ ] [ ][ ] [ ] [ ] [ ] % 1,000,001.......... 1,000.01 [ ] [ ] [ ]................... [ ] [ ] [ ] [ ]..................... [ ] [ ] [ ] [ ]............. [ ] [ ] [ ]................................... [ ] [ ] [ ] 160

%.................. 308,386,000 30.84........... 308,386,000 30.84.................. 296,292,000 29.63................ 296,292,000 29.63.............. 70,609,000 7.06....... 70,609,000 7.06 161

200820092010 12 31 2010 1 OEM 173 (i) Intertek (HK) 2 Intertek (HK) (ii) Pony 3 1. Euromonitor 2010 23.1% 10.0% 14.6% 2010 2. 2011 2 18 3. 2011 2 16 162

200820092010 12 31 474,000,000 624,400,000 838,000,000 33.0%72,200,000 91,800,000 144,500,000 41.5% OEMOEM OEM 200820092010 12 31OEM 13.4% 12.1% 9.0% OEMOEM OEM 2009 12 312010 1 1 20082009 12 31 20082009 12 31 2010 12 31 163

20082009 12 31 2010 1 1 2010 12 312010 12 31 2010 1 1................................................. 14,364..................................................... 4,019..................................................... 550................................................... 54,014........................................... 214........................................................ 3,662................................................. 108,392 185,215.......................................................... 3,662........................................... 20,026..................................................... 92,000.......................................................... 12,210 127,898.......................................................... 57,317 2010 12 3120012010 15.4% 164

12.1% 11.5% 2008 12 31320,300,000 2009 12 31432,600,0002010 12 31 578,900,000 34.4% 200820092010 12 31 107146160173 2007 3 162008 1 1 25% 165

2008 1 12008 1 12009 12 31 2010 1 12012 12 312013 1 1 25% KA 166

(a) (b) (c) 167

168

169

170

200820092010 12 31 12 31 2008 2009 2010................................ 473,966 624,396 837,991............................ (291,074) (385,412) (515,052)................................ 182,892 238,984 322,939..................... 775 1,992 992..................... (67,295) (94,811) (130,786)............................ (13,911) (14,714) (23,586)....................... (635) (43) (21)............................ (2,410) (5,142) (1,638).......................... 99,416 126,266 167,900.......................... (27,192) (34,467) (23,431)....... 72,224 91,799 144,469 12 31 2008 2009 2010................................. 202,419 42.7% 255,621 40.9% 359,011 42.8%........................... 44,042 9.3% 72,921 11.7% 100,747 12.0%........................... 39,012 8.2% 39,860 6.4% 55,694 6.6%............................... 8,769 1.4% 20,199 2.4%...................... 34,811 7.4% 55,409 8.9% 43,238 5.2% 320,284 67.6% 432,580 69.3% 578,889 69.0%................................. 67,132 14.2% 97,100 15.6% 165,350 19.7%................................. 17,173 3.6% 12,324 2.0% 14,689 1.8%................................... 69,377 14.6% 82,392 13.1% 79,063 9.5%................................... 473,966 100.0% 624,396 100.0% 837,991 100.0% 2008 12 31474,000,0002009 12 31624,400,000 2010 12 31838,000,000 171

33.0% 200820092010 12 3167.6% 69.3% 69.0% 2008 12 31320,300,000 2009 12 31432,600,0002010 12 31 578,900,000 34.4% (i) (ii) 2008 12 311072010 12 31160(iii) (iv) 2009 20092010 12 31 20092010 12 3112 OEM 2009 12 31 OEM 2010 12 31 2010 12 31 2008 2009 2010 % % %................................. 119,924 41.2% 151,743 39.4% 206,529 40.1%........................... 22,152 7.6% 37,206 9.7% 53,632 10.4%........................... 16,104 5.5% 17,522 4.5% 25,398 4.9%............................... 5,517 1.4% 12,117 2.4%...................... 21,066 7.3% 32,437 8.4% 26,269 5.1% 179,246 61.6% 244,425 63.4% 323,945 62.9%................................. 47,204 16.2% 69,961 18.2% 119,025 23.1%................................. 11,697 4.0% 8,877 2.3% 10,373 2.0%................................... 52,927 18.2% 62,149 16.1% 61,709 12.0%................................... 291,074 100.0% 385,412 100.0% 515,052 100.0% 172

12 31 2008 2009 2010................................. 86,347 29.7% 122,338 31.7% 171,624 33.3%............................... 107,274 36.9% 149,464 38.8% 194,750 37.8%................................... 80,511 27.7% 92,635 24.0% 116,022 22.5%............................... 4,442 1.5% 8,315 2.2% 10,527 2.0%........................... 12,500 4.2% 12,660 3.3% 22,129 4.4% 291,074 100.0% 385,412 100.0% 515,052 100.0% 2008 12 31291,100,000 2009 12 31385,400,0002010 12 31 515,100,000200820092010 12 31 66.6% 70.5% 71.1% OEM 2008 12 3180,500,00012,100,0002009 12 31 92,600,000 2009 12 3192,600,00023,400,000 2010 12 31116,000,0002010 12 31 2010 12 31 8,700,000 2010 1 1 200820092010 12 31 61.4% 61.7% 61.5% 173

12 31 2008 2009 2010 % % %................................. 82,495 40.8% 103,878 40.6% 152,482 42.5%........................... 21,890 49.7% 35,715 49.0% 47,115 46.8%........................... 22,908 58.7% 22,338 56.0% 30,296 54.4%............................... 3,252 37.1% 8,082 40.0%...................... 13,745 39.5% 22,972 41.5% 16,969 39.2% 141,038 44.0% 188,155 43.5% 254,944 44.0%................................. 19,928 29.7% 27,139 27.9% 46,325 28.0%................................. 5,476 31.9% 3,447 28.0% 4,316 29.4%................................... 16,450 23.7% 20,243 24.6% 17,354 21.9%................................... 182,892 38.6% 238,984 38.3% 322,939 38.5% 2008 12 31 182,900,000 2009 12 31239,000,0002010 12 31 322,900,00020082009 2010 12 3120082009 12 3140.8% 40.6%2010 12 3142.5% 2010 12 31 2010 12 31 2010 12 31 2008 12 31 29.7% 2009 12 31 27.9% 2008 12 31 23.7%2009 12 31 24.6%2010 12 3121.9% 200820092010 12 31 174

2008 12 31800,000 2009 12 31 2,000,0001,000,000 12 31 2008 2009 2010............................... 35,225 7.4% 29,455 4.7% 43,492 5.2%.................... 18,208 3.8% 37,171 6.0% 38,857 4.6%............................... 2,407 0.5% 12,400 2.0% 27,098 3.2%............................... 8,170 1.7% 9,938 1.6% 14,167 1.7%............................... 1,711 0.4% 2,677 0.4% 3,179 0.4%................................... 1,574 0.4% 3,170 0.5% 3,993 0.5% 67,295 14.2% 94,811 15.2% 130,786 15.6% (i) (ii) 2009 12 31 2008 12 31 2010 12 31 2009 12 31 2008 12 312,400,000 2009 12 31 12,400,0002010 12 3127,100,000 2008 12 31 2009 12 312010 12 31 175

2008 20092010 12 3115.2% 14.7% 17.2% 2008 12 3167,300,0002009 12 3194,800,000 2010 12 31130,800,000 14.2% 15.2% 15.6% 12 31 2008 2009 2010............................. 2,911 0.6% 2,966 0.5% 4,611 0.6%................................... 734 0.2% 723 0.1% 1,307 0.2%...................... 4,213 0.9% 5,217 0.9% 1,936 0.2%............................. 862 0.2% 713 0.1% 1,546 0.2%............................... 115 0.0% 272 0.0% 1,154 0.1%................................... 5,076 1.0% 4,823 0.8% 13,032 1.5% 13,911 2.9% 14,714 2.4% 23,586 2.8% 2008 12 312,900,000 2009 12 313,000,0002010 12 31 4,600,000 2010 12 31 2010 2010 12 31[ ]3,600,000 2008 12 3113,900,000 2009 12 3114,700,0002010 12 31 23,600,000200820092010 12 31 2.9% 2.4% 2.8% 176

2008 12 31 23,000 500,000 2008 12 31 2,400,000 2009 12 315,100,000 2009 12 315,100,000 2010 12 311,600,000 2010 1 1 2010 12 31 2007 3 16 2008 1 1 25% 25% 2007 12 26 2008 1 1 2008 1 12009 12 31 2010 1 12012 12 312013 1 1 25%2007 12 31 177

2010 12 312009 12 31 2009 12 31 624,400,000 213,600,0002010 12 31838,000,00034.2% (i) 2009 12 31 432,600,00033.8%2010 12 31578,900,000(ii) 2009 12 31385,400,000 129,700,0002010 12 31515,100,000 33.6% 2009 12 31 239,000,000 83,900,0002010 12 31322,900,000 35.1% 2009 12 31 38.3% 2010 12 31 38.5% 2009 12 31 2,000,000 1,000,0002010 12 311,000,000 50.0% 2009 12 3194,800,000 36,000,0002010 12 31130,800,000 38.0% (i) (ii)2010 12 31(iii) 2009 12 3114,700,000 8,900,0002010 12 3123,600,000 60.5% 178

(i) (ii)2010 (iii)[ ] 3,600,000 2009 12 315,100,000 3,500,0002010 12 311,600,000 68.6% 2010 1 12010 12 31 2009 12 31 126,300,00041,600,0002010 12 31167,900,000 32.9% 2009 12 3134,500,000 11,100,0002010 12 3123,400,000 32.2% 2009 12 31 27.3%2010 12 31 14.0% 2009 12 3191,800,000 2010 12 31144,500,0002009 12 31 14.7%2010 12 31 17.2% 2009 12 312008 12 31 2008 12 31 474,000,000 150,400,0002009 12 31624,400,000 31.7% (i) 2008 12 31320,300,00035.1% 2009 12 31432,600,000 2008 12 311072009 12 31146(ii) (iii) 179

2008 12 31291,100,000 94,300,0002009 12 31385,400,000 32.4% 2008 12 31 182,900,000 56,100,0002009 12 31239,000,000 30.7% 2009 12 31 38.3%2008 12 31 38.6% 2008 12 31800,000 1,200,0002009 12 312,000,000 150% 2008 12 3167,300,000 27,500,0002009 12 3194,800,000 40.9% 2009 2008 12 3113,900,000 800,0002009 12 3114,700,000 5.8% 2009 12 31 2008 12 31 523,000 2008 12 31635,000592,0002009 12 31 43,000 93.2% 2008 12 312,400,0002,700,000 180

2009 12 315,100,000 112.5% 2008 12 3199,400,000 26,900,0002009 12 31126,300,000 27.1% 2008 12 3127,200,0007,300,000 2009 12 3134,500,000 26.8% 2009 12 3127.3%2008 12 31 27.4% 2008 12 3172,200,000 2009 12 3191,800,0002008 12 31 15.2% 2009 12 31 14.7% 181

12 31 2008 2009 2010 2011 4 30................................... 30,384 34,323 34,737 19,447................ 35,609 74,559 59,149 210,079........................ 10,731 11,091 26,144 13,954.......... 11,992 2,337 3,731 1,276............................. 2,997 3,662 2,350 4,698...................... 27,786 114,442 72,299 72,629.......................... 119,499 240,414 198,410 322,083................ 9,390 35,270 33,894 92,802................ 6,978 14,028 17,211 13,051.................... 45,700 85,728 50,000........................ 1,218 2,025 89,565 89,038............................... 8,191 12,210 7,349 2,893.......................... 71,477 149,261 148,019 247,784.......................... 48,022 91,153 50,391 74,299 2011 4 30[ ] 743,000,000 12 31 2008 2009 2010.............................. 9,607 8,030 7,645.............................. 1,117 1,043 830.............................. 19,660 25,250 26,262................................ 30,384 34,323 34,737 2008 12 31 30,400,0003,900,0002009 12 31 34,300,000 12.8% 2010 12 31 182

2010 12 31 34,700,0002009 12 31 34,300,0002011 2 2011 1 12 31 2008 2009 2010............... 30 31 24 365 20082009 12 31 30 31 2010 12 31242011 2 2011 4 30 2010 12 31 31,008,00089.3%) 3060 12 31 2008 2009 2010............. 35,609 74,559 59,149 2008 12 31 35,600,000 39,000,0002009 12 31 74,600,000 109.4% (i) 2009 12 312008 12 31(ii)2009 12 31 183

2009 12 31 74,600,00015,500,0002010 12 31 59,100,000 20.7% 200820092010 12 31 12 31 2008 2009 2010 30.............................. 31,249 45,411 48,836 3160.......................... 3,797 28,433 10,052 6190.......................... 422 571 61 91 180........................... 3 200 181 365.......................... 141 365............................. 141 35,609 74,559 59,149 200820092010 12 31 1 30 31 60 6190 90 2008 12 31......................... 35,609 31,404 3,643 421 141 2009 12 31......................... 74,559 45,410 28,433 571 4 141 2010 12 31......................... 59,149 49,036 10,052 61 20082010 12 31 1,600,000 100,0002009 12 31 89,000 12 31 2008 2009 2010............. 31 32 29 365 184

2008 12 31 31 2009 12 31 322010 12 31 29 2011 4 302010 12 31 59,149,000 12 31 2008 2009 2010............................ 1,192 2,337 3,325............. 21,041.............................. 8,287................................ 100 100 506....................... 10,800 33,133 2,437 12,118..................... (21,141) (100) (8,387) 11,992 2,337 3,731 2008 12 31 2008 12 31 20092010 12 31 8,300,000 200820092010 12 31 30 185

12 31 2008 2009 2010............. 9,390 35,270 33,894 2008 12 31 9,400,000275.6% 2009 12 31 35,300,0002008 12 31 2009 12 31 35,300,0004.0% 2010 12 31 33,900,000 2011 2 12 31 2008 2009 2010 1............................. 5,423 31,510 28,111 1 3............................ 1,432 1,334 4,575 3 6............................ 2,479 2,426 1,170 6........................... 56 38 9,390 35,270 33,894 12 31 2008 2009 2010............. 12 21 25 365 2008 12 31 12 2009 12 31 212010 12 31 252008 12 31 2011 4 302010 12 3133,894,000 32,133,000 (94.8%) 186

12 31 2008 2009 2010....................... 98 415 40....................... 2,679 2,812 5,732................... 2,959 1,487............................ 4,201 7,842 9,952 6,978 14,028 17,211 30% (i) 12 31 2008 2009 2010................................ 4,727 7,500 2,573............................ 6,004 3,591 23,571 10,731 11,091 26,144 (ii) 12 31 2008 2009 2010................................ 1,218 2,025 430....................... 89,135 1,218 2,025 89,565 187

12 31 2008 2009 2010............... 65,874 99,292 126,523............... (25,604) (22,664) (62,346)......... (21,000) 10,028 (106,320)........ 19,270 86,656 (42,143)............... 8,516 27,786 114,442............... 27,786 114,442 72,299 2010 12 31 171,600,000126,500,00045,100,000 (i) 68,400,000(ii) 16,100,000 (i)23,000,000 (ii) 15,400,000 2009 12 31 134,000,00099,300,00034,700,000(i) 2009 12 31 39,000,000(ii) 3,900,000(iii) 30,400,000 (iv) 5,100,000(i)2008 12 31 188

25,900,000(ii)2008 10,800,000 10,100,0002009 12 31 (iii)7,100,000 2008 12 31 104,900,00065,900,00039,000,000(i) 13,300,000(ii) 10,800,000(iii) 27,700,000 21,000,0002008 12 31 10,700,000 6,000,000 2010 12 3162,300,000 2009 12 3122,700,000 2008 12 3125,600,000 12,900,000 12,000,000 2010 12 31106,300,000 108,400,00056,700,000 58,800,000 2009 12 3110,000,000 105,700,000 45,700,000 50,000,000 189

2008 12 3121,000,000 21,700,000 45,000,000 45,700,000 16,300,000 42,800,000 51,800,000 12 31 2008 2009 2010 % % %............................. 741 4.5% 1,368 3.2% 1,544 3.0%........................... 21,695 50.7%............................... 11,462 70.3% 18,897 44.1% 48,292 93.2%................................... 3,428 21.0%............ 685 4.2% 847 2.0% 1,971 3.8% 16,316 100.0% 42,807 100.0% 51,807 100.0% 2008 12 31 20092010 12 31 2009 12 31 200820092010 12 31 2008 12 31 2009 2010.............................. 709 884 4,118............. 1,838 1,431 4,323 2,547 2,315 8,441 190

12 31 2008 2009 2010............................ 138,633 120,477 77,362................. 6,790 138,633 120,477 84,152 2010 12 31 [ ] 12 12 31 2008 2009 2010 2011 4 30...................... 45,700 67,000 50,000...................... 13,728....... 5,000 45,700 85,728 50,000...................... 20,000...................... 15,800 15,800 45,700 105,728 15,800 65,800 2011 4 3065,800,00015,800,000 50,000,000 2011 4 30 2011 4 30 191

12 31 2008 2009 2010 (1).......................... 1.7 1.6 1.3 (2).......................... 1.2 1.4 1.1 (3).......................... 25.9% 33.5% 5.1% (1) (2) (3) 200820092010 12 31 1.7 1.6 1.3 2009 12 311.62010 12 311.3 200820092010 12 31 1.2 1.4 1.1 2008 12 311.22009 12 311.4 2009 12 312009 12 31 1.42010 12 311.1 200820092010 12 31 25.9% 33.5% 5.1% 2008 12 3125.9%2009 12 3133.5% 2010 12 31 20082009 12 31 43,000,000 57,700,0002010 12 31 192

20082009 12 31 20082009 12 38,000,000 92,000,000 20092010 12 31 [ ] 12 31 2008 2009 2010.................... (1) 8,336 8,073 32,646.................... (2) 3,578.................... (3) 8,682.................. (4) 159 (1) Shuangfei USA (2) 2010 1 12011 1 26 14,097 80,000 204,000 (3) (4) 193

12 31 2008 2009 2010 %.................... 5 (324) 56 (1,417).................... (5) 324 (56) 1,417 2008 2010 12 31.......................... 100 2009 12 31.......................... 100 69 2008 12 31.......................... 100 194

18 2008 12 31 1 1................ 9,390 9,390. 1,176 1,176.................... 47,834 47,834........................ 1,218 1,218 1,218 58,400 59,618 2009 12 31 1 1................ 35,270 35,270. 4,720 4,720.................... 88,441 21,216 109,657........................ 2,025 2,025 2,025 128,431 21,216 151,672 2010 12 31 1 1................ 33,894 33,894. 5,064 5,064.................... 853 16,920 17,773........................ 89,565 89,565 89,565 39,811 16,920 146,296 195

2011 6 3067,700,000 2011 6 30 2011 6 302011 2010 12 31128,700,000 95,000,0002011 1 1 [ ] 20% 196

2010 12 31 2010 12 31 [ ] 1 2 [ ][ ].......... 145,511 [ ] [ ] [ ] [ ][ ].......... 145,511 [ ] [ ] [ ] (1) 2010 12 31 145,655,000144,000 (2) [ ] [ ][ ][ ] [ ] (3) 1,000,000,000 [ ] 2010 12 31[ ] (4) 2011 5 31 2010 12 31 2011 6 30 1,900,000 87,000 2011 6 30 2011 5 31 104,700,000 197

2010 12 31 2011 5 31 2011 5 31............................ 104.7 2010 12 31........................................ 7.1................................ 20.9 2010 12 31.......................... 28.0 2011 1 12011 5 31............. 76.3 2011 1 12011 5 31............. (1.5) 2011 5 31........................... 102.8...................................... 1.9 1313.1313.19 13.1313.19 2010 12 31 2010 12 31 198

199

8 18 200820092010 12 31 II1 2.1 [ ][ ] 2011 1 11 12 31 II1 200820092010 12 31 II1 2.1 4.15 I-1

3.340 II1 2.1 200820092010 12 31 I-2

I. 12 31 2008 2009 2010.................. 5 473,966 624,396 837,991.............. (291,074) (385,412) (515,052).................. 182,892 238,984 322,939....... 5 775 1,992 992....... (67,295) (94,811) (130,786).............. (13,911) (14,714) (23,586)......... (635) (43) (21).............. 6 (2,410) (5,142) (1,638)........... 7 99,416 126,266 167,900........... 10 (27,192) (34,467) (23,431)....... 72,224 91,799 144,469 11 I-3

12 31 2008 2009 2010...................... 72,224 91,799 144,469....... 27 16 2,191....... 72,251 91,815 146,660 I-4

12 31 2008 2009 2010..... 13 27,703 46,140 82,067......... 14 4,112 25,280 20,466.............. 15 3,555 3,375 144......... 16 250 550....... 19 21,141 100 8,387....... 56,761 75,445 111,064.................. 17 30,384 34,323 34,737........... 18 35,609 74,559 59,149....... 30(ii) 10,731 11,091 26,144....... 19 11,992 2,337 3,731........... 20 2,997 3,662 2,350..... 20 27,786 114,442 72,299......... 119,499 240,414 198,410........... 21 9,390 35,270 33,894........... 22 6,978 14,028 17,211... 23 45,700 85,728....... 30(ii) 1,218 2,025 89,565.............. 8,191 12,210 7,349......... 71,477 149,261 148,019......... 48,022 91,153 50,391..... 104,783 166,598 161,455......... 23 20,000 15,800....... 20,000 15,800.............. 104,783 146,598 145,655........... 24 11 11 11.................. 25 104,772 146,587 145,644.............. 104,783 146,598 145,655 I-5

a b c 2008 1 1...................... 11 20,000 15,747 65 41,709 77,532............. 27 27............................ 72,224 72,224.................... 27 72,224 72,251...................... 10,225 (10,225) 200711......... (45,000) (45,000) 2008 12 31 2009 1 1...................... 11 20,000* 25,972* 92* 58,708* 104,783............. 16 16............................ 91,799 91,799.................... 16 91,799 91,815 200811......... (50,000) (50,000) 2009 12 31 2010 1 1...................... 11 20,000* 25,972* 108* 100,507* 146,598............. 2,191 2,191............................ 144,469 144,469.................... 2,191 144,469 146,660............. (20,000)** (25,972)** (101,631)** (147,603)...................... 14,690 (14,690) 2010 12 31.................... 11 * 14,690* 2,299* 128,655* 145,655 * 200820092010 12 31 104,772,000 146,587,000 145,644,000 ** 2010 1 1 I-6

2010 1 1................................................. 14,364..................................................... 4,019..................................................... 550................................................... 54,014........................................... 214........................................................ 3,662................................................. 108,392 185,215.......................................................... 3,662........................................... 20,026..................................................... 92,000.......................................................... 12,210 127,898.......................................................... 57,317 (a) 2002 12 31 10,000 10,000 110,000 1 20082009 12 312010 12 31 5,000 50,000 0.1100 0.1 2010 12 3110,00010 (b) II1 (c) 10%50% 50% I-7

I-8 12 31 2008 2009 2010............... 99,416 126,266 167,900............. 6 2,410 5,142 1,638......... 5 (275) (282) (119)........... 5 (62) (67) (98)..... 7 507 43... 5 (343).................. 7 2,809 2,632 1,516.................. 7 93 93 795......... 7 22 180 359 104,920 134,007 171,648.................. (13,289) (3,939) (414)... 6,021 (38,950) 15,410..... 10,734 10,089 (1,608)........... 329 25,880 2,286... (2,263) 7,050 22,996....... (10,759) 447 (68,385).................. 27 16 2,191............. 95,720 134,600 144,124.................. 275 282 119.................. (2,410) (5,142) (1,638)............. (27,711) (30,448) (16,082).................... 65,874 99,292 126,523........... (12,040) (654)............. (686)............... 13 (12,888) (21,112) (51,807)... 5 62 67 98......... 19 (8,287)........... (52) (665) (2,350)......... (300).................... (25,604) (22,664) (62,346).................. 20 (108,392)............. 45,700 105,728 58,800............. (21,700) (45,700) (56,728).................. (45,000) (50,000)........... (21,000) 10,028 (106,320)