SHENZHEN KONDARL GROUP CO., LTD. 1

.....3. 4. 6 9... 13.......16...18...24...25...27...66 2

SHENZHEN KONDARL GROUP CO., LTD. 1086 0755-25425020-388 359 0755-25420155 china000048@126.com 1086 1086 518003 3

http://www.kondarl.com china000048@126.com http://www.cninfo.com.cn ST 000048 1994 9 17 4403011014310 440301192180957 440303192180957 2006 5 ( ) 15,053,744.74 7,341,995.58 4,507,757.99 153,223,724.22 2,322,190.21 39,572,466.27-27,853,118.70-4

3,334,397.17 172,301,925.88-49,507,028.20 ( ) 3,334,397.17 2004 2003 2002 1 975,818,028.47 856,230,237.83 889,413,377.00 2 7,341,995.58 5,445,536.59 9,963,135.47 3 1,138,624,682.39 1,377,283,842.60 1,252,173,486.49 4 51,511,944.71 48,111,199.23 42,814,393.51 5 / 0.019 0.014 0.025 6 / 0.012 0.009-0.006 7 / 0.132 0.123 0.11 8 / 0.08 0.063 0.082 9 / 0.44 0.59 0.31 10 % 14.25% 11.32 23.27 2004 2003 / / 297.45% 295.9% 0.392 0.392 255.82% 270.72% 0.3150 0.3150 76.82% 76.42% 0.101 0.101 26.92% 28.49% 0.0331 0.0331 14.25% 14.18% 0.019 0.019 11.32% 11.98% 0.0139 0.0139 8.75% 8.71% 0.012 0.012 7.52% 7.96% 0.0093 0.0093 5

390,768,671 92,364,144 58,036,344 921,230-42,834,171-450,223,789 48,111,199-3,941,250 7,341,996 3,400,746 390,768,671 92,364,144 58,036,344 921,230-46,775,421-442,881,793 51,511,944 ( ) + - 1 276,531,300 276,531,300 2 3 4 276,531,300 276,531,300 1 114,237,371 114,237,371 2 3 6

4 114,237,371 114,237,371 390,768,671 390,768,671 ( ) 1 2 3 40,209 2004 12 31 102,998,857 26.36 87,906,000 22.50 87,906,000 38,292,443 9.8 14,645,000 14,645,000 3.75 7,972,000 2.04 6,762,000 1.73 5,000,000 5,000,000 1.28 4,807,018 4,807,018 1.23-23,452,018 4,147,982 1.06 4,000,000 4,000,000 1.02 87,906,000 2001 6 30 2002 9 19 7

87,906,000 26.36% 1996 5 2,000 17 ( 90 ) 1987 ( ) 90% 10% 26.36% 10% 22.5% 215,594,628 8

( ) 2004 12 31 A B H 848,100 A 726,001 A 553,301 A 470,490 A 462,330 A 458,800 A 387,820 A 385,481 A 368,040 A 350,710 A 45 2003.6-2006.6 0 0 52 2003.6-2006.6 0 0 37 2003.6-2006.6 0 0 41 2003.6-2006.6 0 0 51 2003.6-2006.6 0 0 41 2003.6-2006.6 0 0 37 2003.6-2006.6 0 0 44 2004.6-2006.6 0 0 54 2004.6-2006.6 0 0 48 2004.6-2006.6 0 0 55 2004.6-2006.6 0 0 35 2004.6-2006.6 0 0 48 2003.6-2006.6 0 0 35 2003.6-2006.6 0 0 41 2003.6-2006.6 0 0 37 2003.6-2006.6 0 0 43 2003.6-2006.6 0 0 9

2002.01 2003.12 2003.12 2000-2002 10 1984 8 1987 9 10

, 1999 1997 3 1999 12 2000 1996 5 1998-2002 1998-1995 1 1 11

2002 133.82 2 50 50 3 2 4 15 5 10-15 5 2003 1046 17 1.63% 195 18.64% 458 43.79% 376 35.95% 1046 100% 12

670 64.05% 32 3.06% 70 6.69% 61 5.83% 131 12.52% 82 7.84% 1046 100 2004 8 31 2002 13

14

6 6 0 6 6 0 6 6 0 3 3 0 15

2003 2004 5 18 2003 2004 6 18 9 30 2003 3 229,197,300 58. 65% 16

1 2003 2 2003 3 2003 4 2003 5 2003 6 2004 7 8 9 10 11 < > 2004 6 19 2004 9 23 2004 10 25 9 30 3 229,197,300 58.65% 17

1 2 2004 10 26 97,582 15,322 734 1 2004 2003 2004 2003 2004 2003 18

492,594,366.78 408,509,529.14 462,326,994.88 383,372,768.61 30,267,371.90 25,136,760.53 141,357,691.13 140,747,144.82 77,813,166.95 26,497,739.51 102,481,779.40 9,233,163.40 5,268,067.00-20,175,090.52 975,818,028.47 122,288,394.96 111,027,155.07 94,449,130.62 30,330,536.06 27,839,264.34 122,160,065.24 104,257,053.59 102,456,852.24 36,490,091.23 19,703,213.00 57,841,932.53 38,929,975.18 30,077,091.07 38,883,191.77 27,764,841.46 35,759,734.70 20,974,016.48 31,035,932.60 5,523,723.03 4,723,822.10 131,790,019.45 87,015,251.51 112,948,249.23 15,466,527.89 18,841,750.22 7,918,463.90 2,704,405.49 1,733,407.46 6,528,757.91 6,185,056.44 5,721,852.61 3,866,299.51 3,291,443.72 1,401,767.49 2,430,408.89-35,759,754.7-20,175,090.52-35,759,754.7 856,230,237,83 810,926,061.19 723,605,120.85 164,891,967.28 132,625,116.98 2 2004 2003 2004 2003 % 492,594,366.78 408,509,529.14 20.58% 141,357,691.13 122,288,394.96 15.59% 140,747,144.82 122,160,065.24 15.22% 77,813,166.95 57,841,932.53 34.53% 26,497,739.51 35,759,734.70-25.90% 102,481,779.40 131,790,019.45-22.24% 9,233,163.40 7,918,463.90 16.60% 5,268,067.00 5,721,852.61-7.93% 975,818,028.47 856,230,237.83 13.97% 3 2004 2003 2004 2003 % 582,770,349.47 519,959,125.89 12.08% 393,047,679.00 336,271,111.94 16.88% 975,818,028.47 856,230,237.83 13.97% 19

2004 12 31 2004 90% 80,000,000 90% 50,000,000 90% 30,000,000 90% 50,000,000 90% 30,000,000 70% 30,000,000 212,208,493.72 17,693,316.68 166,982,262.17 3,058,291.70 258,001,122.37 15,708,659.42 212,208,493.72-3,852,158.76 64,742,419.18 2,711,296.77 279,886,410.00 13,231,730.49 135,368,907.36 18.76% % 80,867,220.39 8.29 % 1 2 3 2002 20

2003 2004 2003 1,138,624,682.39 1,377,283,842.60-17.33% 975,663,665.7 1,204,206,294.76-18.98% 66,043,644.81 85,229,925.90-22.51% 51,511,944.71 48,111,199.23 7.07% 153,223,724.22 123,075,696.12 24.50% 7,341,995.58 5,445,536.59 34.83% -49,507,028.20 57,453,265.11-186.17% 1 2 3 4 5 6 6 1 2004 4 20 2003 2003 21

2003 2003 2 2004 4 23 3 2004 5 17 2003 4 2004 8 18 5 2004 9 15 6 2004 10 25 2004 7,341,995.58-442,881,793.59 2004 22

2005 49 2003 2004 12 31 2003 56 1 2004 12 31 42,838 10,785 2003 3000 3,2053 2003 3300 2 59,722 5,151 2003 991% 159% 831.64% 23

2005 2004 4 20 2003 2003 2003 2003 2004 4 23 2004 8 18 2004 8 21 24

[2005]49 2004 1997 8 24,834,280 165,831,681 2004 12 31 42,838 1 10,785 2003 3000 6,560 2,230 25

1,995 2 3,2053 2003 3300 10,372 210 7,520 3,000 8,181 2,770 3 2004 12 31 831.64% 2004 50 3 2002 12 20 (1992) 1600097 (1992) 1600098 127 M 2 2004 10 25 26

[2005]49 2004 12 31 2004 12 31 2005 4 13 27

1994 1 2,180 1994 11 1 N26211 390,768,671 1999 12 8 2001 8 6 2003 1 3 [2003]63 36.16% 14,129.13 ( ) ( ) 26.36% 9.80% 1 2 1 1 12 31 3 28

4 5 6 7 8 1 1 29

9 :a., ;b. 1 5% 1 2 10% 2 3 20% 3 40% 10 11 a. 30

b. c. d. 20% 20%, 20%,,,,, 12 31

1, 2000 a., b. ( 5%) 20-35 2.71-4.75% 10-15 6.33-9.50% 6-12 7.92-15.83% 5-7 13.57-19% a b c d 32

e 13, 14 (1),, a. b. c. (2),, : a., b., (3) 33

, 3,,, (4), 15,, 50 * 20 5 * 20 50 16 17 34

1 2 18 19 : 50%, 50% [1999]10 35

17% 13% 6% 0% * 3% 5% 5% 1% 15% 16% 33% * [2001]121 50,000,000 90% 10% 50,000,000 36

50,000,000 90% 10% 50,000,000 80,000,000 90% 10% 80,000,000 10,000,000 100% 10,000,000 30,000,000 90% 10% 30,000,000 8,200,000 61% 39% 8,200,000 30,000,000 90% 10% 30,000,000 30,000,000 70% 37,100,000 10,000 100% 13,323,949 2,000,000 80% 20% 2,000,000 1,500,000 20% 80% 1,500,000 ( ) 10,000,000 90% 9,000,000 2 100,000,000 85,278,400 80% - 100,000,000 69,793,435 70% 30% 13,000,000 5,700,000 51% - 10,000,000 8,500,000 85% - 37

80,000,000 87,270,000 90% - 10,000,000.00 - - 100% 3,000,000.00 3,000,000.00-100% 1 80% 2 3 4 5 2003 6 7 3 HKD10,000 40% 1. 2004-12-31 2003-12-31 RMB 8,301,045.12 8,301,045.12 1,776,403.72 1,776,403.72 HKD 541,164.31 575,240.36 343,084.29 365,624.93 USD 1,725.40 14,280.27 38

8,890,565.75 2,142,028.65 RMB 65,680,421.53 65,680,421.53 122,858,079.32 122,858,079.32 HKD 3,434,522.99 3,652,544.88 2,556,443.50 2,725,029.72 USD 176,009.02 1,456,738.66 175,887.08 1,462,161.33 70,789,705.07 127,045,270.37 79,680,270.82 129,187,299.02 38.32% 2. 2004-12-31 2003-12-31 * 79,983,684.55 79,983,684.55 2,180.00 79,985,864.55 79,983,684.55 2,180.00 79,983,684.55 79,983,684.55 2,180.00 79,985,864.55 79,983,684.55 2,180.00 - - - - 79,985,864.55 79,983,684.55 2,180.00 79,985,864.55 79,983,684.55 2,180.00 * 2000 8 9 8000 2001 2 3. 2004-12-31 2003-12-31 221,248.00 221,248.00 4. 2004-12-31 1 41,165,291.59 39.73% 2,199,918.49 38,965,373.10 1-2 6,352,518.88 6.13% 380,057.30 5,972,461.58 2-3 4,481,410.92 4.32% 1,036,807.79 3,444,603.13 39

3 51,626,003.84 49.82% 45,265,301.34 6,360,702.50 103,625,225.23 100% 48,882,084.92 54,743,140.31 2003-12-31 1 71,336,852.81 55.25% 1,839,230.20 69,497,622.61 1-2 5,060,558.59 3.92% 580,080.33 4,480,478.26 2-3 4,264,543.57 3.30% 1,010,931.06 3,253,612.51 3 50,136,798.19 37.53% 43,914,302.96 6,222,495.23 130,798,753.16 100% 47,344,544.55 83,454,208.61 2004 12 31 26 061 520.92 25.15% 5%( 5%) 5,815,577.09 5,815,577.09 3 4,528,352.27 4,528,352.27 3 5. 2004-12-31 1 24,993,025.99 23.43% 1,106,709.27 23,886,316.72 1-2 11,746,489.02 11.01% 984,694.17 10,761,794.85 2-3 17,719,640.00 16.61% 5,992,407.04 11,727,232.96 3 52,194,153.00 48.94% 40,128,867.10 12,065,285.90 106,653,308.01 100.00% 48,212,677.58 58,440,630.43 2003-12-31 1 44,213,922.05 37.87% 1,835,557.71 42,378,364.34 1-2 16,137,274.04 13.82% 2,464,064.71 13,673,209.33 2-3 5,258,957.98 4.50% 1,104,803.48 4,154,154.50 40

3 51,156,358.37 43.81% 39,070,326.42 12,086,031.95 116,766,512.44 100.00% 44,474,752.32 72,291,760.12 2004 12 31 37,423,923.02 35.09 % 5%( 5%) 9,654,102.00 9,654,102.00 3 3,853,844.69 3,853,844.69 3 3,000,000.00 3,000,000.00 3 2,560,332.36 2,560,332.36 3 1,850,000.00 1,850,000.00 3 6. 2004-12-31 2003-12-31 1 5,756,627.61 100% 10,027,431.04 100% 7. 2004-12-31 2003-12-31 30,506,517.72 30,506,517.72 39,011,863.07-39,011,863.07 21,490,800.24 21,490,800.24 15,607,402.87-15,607,402.87 9,203,770.82 1,312,962.00 7,890,808.82 7,766,914.03 1,312,962.00 6,453,952.03 1,967,677.28 1,967,677.28 2,043,293.05-2,043,293.05 491,133.20 491,133.20 500,277.38-500,277.38 * 191,770,343.10 2,666,225.13 189,104,117.97 266,574,908.70 2,666,225.13 263,908,683.57 41

255,430,242.36 3,979,187.13 251,451,055.23 331,504,659.10 3,979,187.13 327,525,471.97 * 2004-12-31 2003-12-31 135,209,416.69 2,666,225.13 210,026,047.49 2,666,225.13 7,586,237.77 7,482,088.93-48,974,688.64 49,066,772.28-191,770,343.10 2,666,225.13 266,574,908.70 2,666,225.13 2003-12-31 2004-12-31 1,312,962.00 - - 2,666,225.13 - - 1,312,962.00 2,666,225.13 3,979,187.13 - - 3,979,187.13 8. 2003-12-31 2004-12-31 4,913,373.97 8,493,844.76 9,227,317.78 4,179,900.95 8,145,991.71 4,535,440.17 3,475,630.72 9,205,801.16 31,609.76 3,156.27 30,908.00 3,858.03 858,776.59 3,036,755.85 2,927,358.79 968,173.65 1,162,783.17 742,805.43 1,640,618.05 264,970.55 15,112,535.20 16,812,002.48 17,301,833.34 14,622,704.34 9. (1) 2003-12-31 2004-12-31 336,791,216.70-886,269.16 28,800,000.00 307,104,947.54 213,737,392.75 26,970,000.00 240,707,392.75 123,053,823.95-27,856,269.16 28,800,000.00 66,397,554.79 (2) 42

a. 2003-12-31 2004-12-31 ( ) 860,000 1.55% 2,150,000.00 2,150,000.00 - - - 2,150,000.00 6,467,737 0.32% 4,080,000.00 4,080,000.00 - - - 4,080,000.00 5,330,000 1.84% 5,221,500.00 5,221,500.00 - - - 5,221,500.00 1,000,000 0.67% 1,792,000.00 1,792,000.00 - - - 1,792,000.00 13,243,500.00 13,243,500.00 - - - 13,243,500.00 b. 2003-12-31 ( ) 2004-12-31 85% 80% 51% 8,500,000.00 4,325,492.69-4,174,507.31 4,325,492.69 79,550,485.00 36,814,114.00-42,736,371.00 36,814,114.00 5,700,000.00 5,700,000.00 5,700,000.00 90% 87,270,000.00 87,270,000.00-28,800,000.00 58,470,000.00 100% 40% 100,000,000.00 99,627,764.00-372,236.00 99,627,764.00 4,194,923.00 3,979,973.86-214,949.14 3,979,973.86 35% 56,000,000.00 56,000,000.00 56,000,000.00 49% 2,514,551.00 9,398,884.31 204,553.58 7,088,886.89 9,603,437.89 15% 9,000,000.00 9,000,000.00 9,000,000.00 10,000,000.00 10,000,000.00 10,000,000.00 341,729,959.00 322,116,228.86 204,553.58-40,409,176.56-28,800,000.00 293,520,782.44 c. 2003-12-31 2004-12-31 10 5,563,721.00 1,955,128.58 561,234.94 4,169,827.36 1,393,893.64 43

10 7,922,445.00 1,139,852.11 792,244.52 7,574,837.41 347,607.59 10-2,626,567.00-1,663,492.85-262,656.72-1,225,730.87-1,400,836.13 10,859,599.00 1,431,487.84 1,090,822.74 10,518,933.90 340,665.10 d. 2003-12-31 2004-12-31 2,270,022.47 2,270,022.47 146,467,370.28 26,970,000.00 173,437,370.28 56,000,000.00 56,000,000.00 9,000,000.00 9,000,000.00 213,737,392.75 26,970,000.00 240,707,392.75 10. 2003-12-31 2004-12-31 508,393,999.35 25,971,534.49 5,589,052.12 528,776,481.72 85,154,648.83 1,150,421.43 83,588.60 86,221,481.66 81,168,910.38 16,648,943.50 7,037,208.12 90,780,645.76 7,324,577.34 323,138.90 347,448.70 7,300,267.54 94,644,444.40 2,890,667.89 738,388.29 96,796,724.00 500,569.40 500,569.40 777,187,149.70 46,984,706.21 13,795,685.83 810,376,170.08 134,393,245.37 13,825,421.72 3,290,895.22 144,927,771.87 43,216,291.07 7,753,659.48 79,926.62 50,890,023.93 37,593,161.85 6,626,752.18 6,846,318.86 37,373,595.17 4,563,660.08 774,441.48 5,338,101.56 44,946,545.81 8,705,615.60 665,855.37 52,986,306.04 43,831.10 97,649.44 141,480.54 264,756,735.28 37,783,539.90 10,882,996.07 291,657,279.11 44

512,430,414.42 518,718,890.97 23,996,235.30 11. 2003-12-31 2004-12-31 13,000,000.00 - - 13,000,000.00 12. ( ) 2003-12-31 2004-12-31 10000 9,279,714.60 14,716,520.70 23,996,235.30-0 108,022.00 108,022.00 135,430.00-135,430.00 9,415,144.60 14,689,112.70 23,996,235.30 108,022.00 13. 2003-12-31 ( ) 2004-12-31 92,255,964.00 80,295,836.84 600,145.64 79,695,691.20 41 ( ) 18,000,000.00 13,500,000.00 3,600,000.00 9,900,000.00 3 *( ) 22,158,726.23 10,545,461.67 1,107,932.28 9,437,529.39 10.5 131,514,690.23 104,341,298.51 0.00 5,308,077.92 99,033,220.59 *85 1,833 4,165 2266 14. 2003-12-31 2004-12-31 1,022,654.55 178,350.00 435,570.19 765,434.36 680,616.22 406,365.54 274,250.68 589,923.20 45,496.06 544,427.14 920,833.19 55,808.07 865,025.12 45

3,214,027.16 178,350.00 943,239.86 2,449,137.30 15. 2004-12-31 2003-12-31 550,858,973.95 745,929,052.20 22,350,000.00 149,250,000.00 22,350,000.00 149,250,000.00 156,760,173.95 133,585,973.95 2,800,000.00 23,174,200.00 363,239,200.00 576,503,452.20 353,691,000.00 514,963,472.00 3,000,000.00 24,831,900.00 9,000,000.00 9,548,200.00 34,500,000.00 36,708,080.20 8,509,600.00 20,175,600.00 11,650,000.00 8,000,000.00 8,509,600.00 8,000,000.00 8,525,600.00-131,037,454.67 51,443,454.67 - - 50,443,454.67 39,007,954.67 34,457,944.67 15,000,000.00 15,955,500.00 15,000,000.00 15,985,510.00 * - - 37,800,000.00 1,000,000.00 20,000,000.00 21,274,000.00 * - - 17,000,000.00 17,000,000.00 681,896,428.62 797,372,506.87 * % 46

32,800,000.00 2004.01.29 5.841 16,200,000.00 2004.05.20 7.137 6,500,000.00 2004.09.21 6.903 3,500,000.00 2004.10.22 6.903 1,350,000.00 2003.08.30 5.94 7,200,000.00 2004.11.13 6.903 50,000,000.00 2004.11.19 6.903 17,000,000.00 2004.07.16 5.7525 6,070,000.00 2004.05.28 5.7525 4,480,000.00 2003.07.16 4.8675 5,750,000.00 2004.8.16 5.841 9,500,000.00 2004.11.25 5.841 35,000,000.00 2004.06.30 5.8410 16. 2004-12-31 2003-12-31 100,000.00 60,181,926.00 5%( 5%) 17. 76,152,376.56 5%( 5%) 18. 21,577,186.75 5%( 5%) 47

19. 2004-12-31 2003-12-31 389,068.00 389,068.00 3,107,550.00 3,107,550.00 1,911,000.00 1,911,000.00 147,000.00 147,000.00 246,741.04 246,741.04 335,502.00 335,502.00 6,136,861.04 6,136,861.04 20. 2004-12-31 2003-12-31-16,101.14-363,577.45 11,206,166.06 10,074,726.56 119,333.44 93,395.05-899,461.41 2,403,210.90 404,726.24 346,634.53 58,597.70 59,968.78 14,903.15 216,235.19 10,888,164.04 12,830,593.56 21. 141,799,819.11 5%( 5%) ( ) 48

22. 2004-12-31 2003-12-31 21,497,550.21 22,478,459.55-72,149.95 410,187.17 674,510.67 1,800,956.00 944,987.33 17,466.00 16,819.78 294,324.29 283,078.35 24,020,483.67 24,470,005.63 23. 2004-12-31 2003-12-31 8,040,000.00 7,040,000.00 24. 2004-12-31 2003-12-31 1,994,301.28 2003.12.17-2006.12.17 7.137% 2,916,666.67-2000.8.30-2003.8.30 5.94% 1,350,000.00-2002.9.25-2004.3.25 6,039% 6,200,000.00 698,997.02 2002.12.24-2005.2.28 4.941% 8,883,565.25 40,000,000.00 2002.6.21-2007.6.21 5.58% 40,000,000.00 ( ) 11,138,410.96 12,411,952.69 53,831,709.26 71,762,184.61 10,471,383.81 25. 2003-12-31 2004-12-31 1,350,000.00 - - 1,350,000.00 49

26. 2004-12-31 2003-12-31 9,735,741.29 12,117,741.29 27. 2002-12-31 2003-12-31 ( ) 1. 276,531,300 - - - - - 276,531,300 : 141,291,300 - - - -141,291,300 - - 135,240,000 - - - 141,291.300-276,531.300 - - - - - - - 276,531,300 - - - - - 276,531,300 ( ) 1. 114,237,371 - - - - - 114,237,371 2. - - - - - - - 114,237,371 - - - - - 114,237,371 390,768,671 - - - - - 390,768,671 28. 2004-12-31 2003-12-31 73,774,846.25 73,774,846.25 18,589,298.14 18,589,298.14 92,364,144.39 92,364,144.39 50

29. 2004-12-31 2003-12-31 13,625,616.00 13,625,616.00 43,489,498.17 43,489,498.17 921,230.05 921,230.05 58,036,344.22 58,036,344.22 30. 2003-12-31 2004-12-31-42,834,171.21-3,941,250.10-46,775,421.31 31. 2003-12-31 2004-12-31-450,223,789.17 7,341,995.58-442,881,793.59 32. 2004 2003 2004 2003 2004 2003 492,594,366.78 408,509,529.14 462,326,994.88 383,372,768.61 30,267,371.90 25,136,760.53 141,357,691.13 122,288,394.96 111,027,155.07 94,449,130.62 30,330,536.06 27,839,264.34 140,747,144.82 122,160,065.24 104,257,053.59 102,456,852.24 36,490,091.23 19,703,213.00 77,813,166.95 57,841,932.53 38,929,975.18 30,077,091.07 38,883,191.77 27,764,841.46 26,497,739.51 35,759,734.70 20,974,016.48 31,035,932.60 5,523,723.03 4,723,822.10 102,481,779.40 131,790,019.45 87,015,251.51 112,948,249.23 15,466,527.89 18,841,750.22 9,233,163.40 7,918,463.90 2,704,405.49 1,733,407.46 6,528,757.91 6,185,056.44 51

5,268,067.00 5,721,852.61 3,866,299.51 3,291,443.72 1,401,767.49 2,430,408.89-20,175,090.52-35,759,754.70-20,175,090.52-35,759,754.70 - - 975,818,028.47 856,230,237.83 810,926,061.19 723,605,120.85 164,893,971.28 132,625,116.98 33. 2004 2003 3,156,181.45 3,620,955.16 833,991.24 1,508,810.45 2,322,190.21 2,112,144.71 2004 2003 1,092,801.89 548,997.51 543,804.38 - - - 766,554.34 213,143.93 553,410.41 2,409,673.89 1,264,617.70 1,145,056.19 1,296,825.22 71,849.80 1,224,975.42 1,211,281.27 244,192.75 967,088,52 3,156,181.45 833,991.24 2,322,190.21 3,620,955.16 1,508,810.45 2,112,144.71 34. 2004 2003 37,519,483.26 45,086,602.03 1,767,600.82 990,869.27 60,290.29 118,336.97 40,055.99 35.48 106,943.94 186,399.45 35,879,060.68 44,400,433.70 35. 52

2004 2003-64,677.37 ( ) 204,553.58 206,612.23-1,087,672.28-1,077,347.95-26,970,000.00-4,325,492.69-215,904.00-27,853,118.70-4,915,647.04 36. 2004 2003-500,000.00 37. 2004 2003 3,691,209.80 207,747.92-420,187.37-100,000.00-3,769,949.44 202,967.93-197,637.69 254,129.35 4,091,815.42 4,752,014.08 38. 2004 2003 320,413.35 371,940.21 9,774.48 29,238.36 53

6,850.00 100,000.00 420,380.42 334,245.73 757,418.25 835,424.30 39. 2004 14,700,000.00 5,606,734.12 20,306,734.12 22,325,470.42 12,655,259.94 8,795,672.51 5,164,250.53 6,097,063.57 55,037,716.97 1. 2004-12-31 1 6,640,117.54 20.75% - 6,640,117.54 1-2 - 0.00% - - 2-3 1,500,000.00 4.69% 300,000.00 1,200,000.00 3 23,861,931.80 74.56% 20,341,527.73 3,520,404.07 32,002,049.34 100.00% 20,641,527.73 11,360,521.61 2003-12-31 54

1 3,000,301.53 10.04% - 3,000,301.53 1-2 3,000,000.00 10.04% 300,000.00 2,700,000.00 2-3 815,577.09 2.73% 163,115.42 652,461.67 3 23,069,001.25 77.19% 20,041,655.54 3,027,345.71 29,884,879.87 100% 20,504,770.96 9,380,108.91 2. 2004-12-31 1 63,228,906.24 29.32% 95,715.33 63,133,190.91 1-2 32,997,048.99 15.30% 719,402.91 32,277,646.08 2-3 58,064,763.37 26.93% 140,749.45 57,924,013.92 3 61,342,395.24 28.45% 47,436,945.65 13,905,449.59 215,633,113.84 100% 48,392,813.34 167,240,300.50 2003-12-31 1 39,128,945.28 14.17% 454,535.39 38,674,409.89 1-2 57,929,614.48 20.98% 70,374.73 57,859,239.75 2-3 74,773,005.22 27.09% 28,161,520.17 46,611,485.05 3 104,222,788.44 37.75% 19,361,971.13 84,860,817.31 276,054,353.42 100% 48,048,401.42 228,005,952.00 3. (1) 2003-12-31 2004-12-31 609,903,225.52 44,245,936.94 28,800,000.00 625,349,162.46 213,737,392.75 26,970,000.00 240,707,392.75 55

396,165,832.77 17,275,936.94 28,800,000.00 384,641,769.71 (2) a. 2003-12-31 2004-12-31 ( ) 860,000.00 1.55% 2,150,000 2,150,000.00 - - - 2,150,000.00 6,467,737.00 0.32% 4,080,000 4,080,000.00 - - - 4,080,000.00 5,330,000.00 1.84% 5,221,500 5,221,500.00 - - - 5,221,500.00 1,000,000.00 0.67% 1,792,000 1,792,000.00 - - - 1,792,000.00 13,243,500 13,243,500.00 - - - 13,243,500.00 b. 2003-12-31 ( ) 2004-12-31 1 90% 72,000,000.00 8,998,901.81 17,693,316.44-45,307,781.75-26,692,218.25 90% 45,000,000.00 70,205,690.01 3,058,285.19 28,263,975.20-73,263,975.20 90% 27,000,000.00 72,787,609.09 15,708,659.42 61,496,268.51-88,496,268.51 90% 45,000,000.00 61,562,609.69-3,852,157.41 12,710,452.28-57,710,452.28 90% 27,000,000.00 35,464,967.31 2,711,297.26 11,176,264.57-38,176,264.57 90% 5,000,000.00 - - - 100% 10,918.00 - - - 70% 39,646,702.00 64,195,521.53 9,262,211.34 33,811,030.87-73,457,732.87 80% 1,600,000.00 1,637,383.29-97,566.91-60,183.62-1,539,816.38 20% 300,000.00 102,790.94 86,925.83-110,283.23-189,716.77 2-85% 8,500,000.00 4,325,492.69-4,174,507.31-4,325,492.69 80% 79,550,485.00 36,814,113.87-42,736,371.13-36,814,113.87 51% 5,700,000.00 5,700,000.00 - - 5,700,000.00 56

90% 87,270,000.00 87,270,000.00-28,800,000.00 58,470,000.00 70% 70,000,000.00 69,739,434.60-260,565.40-69,739,434.60 3 40% 4,194,923.00 3,979,967.43-214,955.57-3,979,967.43 4-35% 56,000,000.00 56,000,000.00 - - 56,000,000.00 49% 2,514,551.00 9,398,884.00 204,553.58 7,088,886.58-9,603,437.58 5-15% 9,000,000.00 9,000,000.00 - - 9,000,000.00 585,287,579.00 597,183,366.26 44,775,524.74 61,682,230.00-28,800,000.00 613,158,891.00 c. 2003-12-31 ( ) 2004-12-31 10 7,922,445.00 1,139,852.22-792,244.52 7,574,837.41 347,607.59 10-2,626,567.00-1,663,492.85 - -262,656.72-1,225,730.87-1,400,836.13 5,295,878.00-523,640.63-529,587.80 6,349,106.54-1,053,228.54 d. / 2003-12-31 2004-12-31 1,132,532.00 - - 1,132,532.00 699,030.59 - - 699,030.59 36,814,113.87 - - 36,814,113.87 5,700,000.00 - - 5,700,000.00 99,627,763.72 - - 99,627,763.72 9,000,000.00 - - 9,000,000.00 56,000,000.00 - - 56,000,000.00 4,325,492.69 - - 4,325,492.69 438,459.88 - - 438,459.88 57

- 26,970,000.00-26,970,000.00 213,737,392.75 26,970,000.00-240,707,392.75 4. 2004 2003 2004 2003 2004 2003 20,175,090.52 35,759,734.70 14,665,183.48 31,035,932.60 5,509,907.04 4,723,822.10 5. 2004 2003-64,677.37 ( ) 44,775,529.65 29,939,988.95-529,587.80-529,587.80 - - -26,970,000.00-4,325,492.69-215,985.00 17,275,941.85 25,365,570.83 ( ) 1. 58

2000 26.36% 20,000,000 -- -- 20,000,000 80,000,000 - -- -- 80,000,000 8,200,000 -- -- 8,200,000 50,000,000 -- -- 50,000,000 30,000,000 -- -- 30,000,000 50,000,000 -- -- 50,000,000 30,000,000 -- -- 30,000,000 80,000,000 -- -- 80,000,000 10,000,000 -- -- 10,000,000 30,000,000 -- -- 30,000,000 100,000,000 -- -- 100,000,000 100,000,000 -- -- 100,000,000 10,000 -- -- 10,000 10,000 -- -- 10,000 2,000,000 -- -- 2,000,000 1,500,000 -- - 1,500,000 10,000,000 -- -- 10,000,000 10,000,000 -- -- 10,000,000 59

. 2003-12-31 ( ) 2004-12-31 102,998,857 26.36% 102,998,857 26.36% 60

2. 22.5% 9.8% 40% ( ) 1. 2. 3. 550,000 4. (1) 2004 12 31 6,780 2003.6.30-2004.1.29 4,000 2004.5.17-2005.5.17 280 2004.9.22-2005.9.22 930 2003.1.19-2004.9.30 12,660 2004.8.11-2005.9.30 24,370 280 ( ) 2004-12-31 2003-12-31 2004-12-31 2003-12-31 11,579,218.72 11,598,219.48 11.17% 10.83% 6,006,446.25 4,956,446.25 5.71% 6.86% 165,015.39 165,015.39 0.16% 0.23% 61

10,132,530.70 10,151,582.18 7.1% 6.15% 428,658.97 25,694,271.25 0.3% 15.57% 1 2004 12 31 77,700,000.00 112,800,000.00 190,500,000.00 20,000,000.00 20,000,000.00-57,150,000.00 126,840,000.00 183,990,000.00 9,000,000.00 9,000,000.00 2,800,000.00 2,800,000.00 2 2004 12 31 1 8,000 2001 3 2001 4 5 [2001] 85 [ ] 2001 11 7 2002 1 16 2002 12 4 2003 1 22 2003 6 16 2005 2 1 [2005] 3 62

2 2000 8 25 1 900 1 900 2001 1 4 1 3 2000 5 10 8 7 3,000 2,000 2000 9 25 900 2001 1 3 900 2001 5 11 2001 29 51,016,745 7 3 63

2004 12 31 5 2 10,353,474.13 7,200,000.00 2 3 32,782,786.26 13,500,000.00 1-8 19,956,963.19 12,500,000.00 70% 73,457,732.34 110,925,973.95 31,500,000.00 USD 2,800,000.00 18,330,000.00 22,660,000.00 5,875,621.45 2,000,000.00 970,000.00 1,350,000.00 4,298,866.03 2,800,000.00 3500 4165 442 284 405 2005 4 8 6,972,761.32 2002 12 20 (1992) 1600097 (1992) 1600098 1,271,111 M 2 64

2004 10 25 2004 5 37,449 2,900 280 19575 2000 2003-12-31 2004-12-31 91,819,296.87 5,275,465.63 97,094,762.50 47,344,544.55 1,537,540.37 48,882,084.92 44,474,752.32 3,737,925.26 48,212,677.58 79,983,686.00 79,983,686.00 79,983,686.00 79,983,686.00 3,979,187.13 3,979,187.13 1,312,962.00 1,312,962.00 2,666,225.13 2,666,225.13 213,737,392.75 26,970,000.00 240,707,392.75 213,737,392.75 26,970,000.00 240,707,392.75-13,000,000.00 13,000,000.00 13,000,000.00 13,000,000.00-402,519,562.75 32,245,465.63 434,765,028.38 65

1 2 3 66

79,680,270.82 4,181,142.77 129,187,299.02 3,267,830.66 2,180.00 2,180.00 221,248.00 221,248.00 221,248.00 221,248.00 54,743,140.31 11,360,521.61 83,454,208.61 9,380,108.91 58,440,630.43 167,240,300.50 72,291,760.12 228,005,952.00 5,756,627.61 10,027,431.04 140,600.00 251,451,055.23 390,983.05 327,525,471.97 390,208.05 14,622,704.34 15,112,535.20 200,000.00 464,917,856.74 183,394,195.93 637,822,133.96 241,605,947.62 66,397,554.79 384,641,769.71 123,053,823.95 396,165,832.77 66,397,554.79 384,641,769.71 123,053,823.95 396,165,832.77 810,376,170.08 52,321,371.39 777,187,149.70 53,384,710.91 291,657,279.11 15,488,034.40 264,756,735.28 15,101,288.16 518,718,890.97 36,833,336.99 512,430,414.42 38,283,422.75 13,000,000.00 13,000,000.00 505,718,890.97 36,833,336.99 499,430,414.42 38,283,422.75 108,022.00 9,415,144.60 505,826,912.97 36,833,336.99 508,845,559.02 38,283,422.75 99,033,220.59 8,817,275.86 104,348,298.51 9,049,812.34 2,449,137.30 3,214,027.16 101,482,357.89 8,817,275.86 107,562,325.67 9,049,812.34 67

1,138,624,682.39 613,686,578.49 1,377,283,842.60 685,105,015.48 681,896,428.62 275,133,928.62 797,372,506.87 323,536,454.67 100,000.00 60,181,926.00 76,152,376.56 750,389.75 105,410,359.40 1,691,185.56 21,577,186.75 27,444.63 22,036,120.53 27,444.09 2,359,226.44 1,666,318.00 2,310,094.37 605,331.34 1,727,393.96 536,685.94 6,136,861.04 6,136,861.04 6,136,861.04 6,136,861.04 10,888,164.04 1,065,054.93 12,830,593.56 1,067,980.80 383,015.17 343,503.39 342,682.30 343,503.39 141,799,819.11 252,259,245.29 164,991,527.47 281,220,480.89 24,020,483.67 55,414.00 24,470,005.63 577,009.18 8,040,000.00 7,040,000.00 7,040,000.00 7,040,000.00 975,663,655.77 543,417,172.99 1,204,206,294.76 622,177,605.56 53,831,709.26 71,762,184.61 1,126,194.26 1,350,000.00 1,350,000.00 9,735,741.29 12,117,741.29 66,043,644.81 85,229,925.90 1,041,707,300.58 543,417,172.99 1,289,436,220.66 622,177,605.56 45,405,437.10 39,736,422.71 390,768,671.00 390,768,671.00 390,768,671.00 390,768,671.00 390,768,671.00 390,768,671.00 390,768,671.00 390,768,671.00 92,364,144.39 92,364,144.39 92,364,144.39 92,364,144.39 58,036,344.22 58,036,344.22 58,036,344.22 58,036,344.22 921,230.05 921,230.08 921,230.05 921,230.08-442,881,793.59-470,899,754.11-450,223,789.17-478,241,749.69-46,775,421.31-42,834,171.21 0.00 51,511,944.71 70,269,405.50 48,111,199.23 62,927,409.92 1,138,624,682.39 613,686,578.49 1,377,283,842.60 685,105,015.48 68

975,818,028.47 20,175,090.52 856,230,237.83 35,759,754.70 810,926,061.19 14,665,183.48 723,605,120.85 31,035,932.60 11,668,243.06 9,549,420.86 153,223,724.22 5,509,907.04 123,075,696.12 4,723,822.10 2,322,190.21 2,112,144.71 18,875,566.69 12,306,620.81 61,218,820.79 13,308,972.81 55,530,675.54 15,114,158.66 35,879,060.68 4,052,363.99 44,400,433.70 11,046,840.28 39,572,466.27-11,851,429.76 12,950,110.78-21,437,176.84-27,853,118.70 17,275,941.85-4,915,647.04 25,365,570.83 500,000.00 4,091,815.42 1,918,483.49 4,752,014.08 757,418.25 1,000.00 835,424.30 109,500.00 15,053,744.74 7,341,995.58 12,451,053.52 3,818,893.99 5,983,981.75 5,982,501.93 5,669,014.67 3,995,805.86 3,941,247.26 2,972,790.86 7,341,995.58 7,341,995.58 5,445,536.59 3,818,893.99-450,223,789.17-478,241,749.69-455,669,325.76-482,060,643.68-442,881,793.59-470,899,754.11-450,223,789.17-478,241,749.69-442,881,793.59-470,899,754.11-450,223,789.17-478,241,749.69-442,881,793.59-470,899,754.11-450,223,789.17-478,241,749.69 1 69

2 3 4 5 6 70

971,874,550.63 22,378,550.13 20,306,751.89 76,986,234.74 992,181,302.52 99,364,784.87 684,498,346.35 14,904,201.10 45,931,442.82 6,547,144.56 34,411,870.50 667,447.31 55,037,716.97 9,473,479.01 819,879,376.64 31,592,271.98 172,301,925.88 67,772,512.89 3,065,480.64 77,913.27 3,065,480.64 77,913.27 48,138,587.20 273,133.80 48,138,587.20 273,133.80-45,073,106.56-195,220.53 272,662,400.00 125,000,000.00 272,662,400.00 125,000,000.00 405,675,922.22 175,380,026.05 43,711,437.90 16,273,743.24 449,387,360.12 191,653,769.29-176,724,960.12-66,653,769.29-10,887.40-10,210.96-49,507,028.20 913,312.11 1 71

7,341,995.58 7,341,995.58 32,245,465.63 27,451,168.69 37,783,539.90 1,590,221.47 5,308,077.92 232,536.48 943,239.86 489,830.86 200,000.00-449,521.96-521,595.18-37,519,483.26 1,918,483.49 35,879,060.68 4,052,363.99 529,587.80-44,245,941.85 76,074,416.74 45,066,567.79 58,925,838.80-41,001,113.59 10,827,441.42 3,941,247.26 5,669,014.67 172,301,925.88 67,772,512.89 2 3 79,680,270.82 4,181,142.77 129,187,299.02 3,267,830.66-49,507,028.20 913,312.11 72