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					     YINGDE GASES GROUP COMPANY LIMITED


                               452,310,000
                               407,079,000

                               45,231,000
                                                    7.91             1%
                                       0.004%                      0.005%


                                         0.000001
                               02168




                                                                         342C



                                                                         2009    9
30             2009   10   5                 7.91                                6.03
                                                      2009   10    5




                                                                  2009   9      24
                                                                   (1)



                            (2)
                                  ......................................            2009       9    29


                                                    ......................          2009       9    29


                                                        ..................          2009       9    29


                    www.eipo.com.hk(3)       eIPO                                   2009       9    29
                                ...............................
                                               eIPO                                 2009       9    29
                              .......................................
                            (2)
                                  ......................................            2009       9    29


             ..............................................                         2009       9    30




                                                     .....................                          2009   10   7




                                                ..........................                          2009   10   7


      www.iporesults.com.hk
                                                  ........................          2009       10    7

                          eIPO
             (4)
                   .............................................                    2009       10    7


                                           ...............................          2009       10    8


(1)
(2)      2009      9   29

       10.
(3)                                                                      www.eipo.com.hk


(4)                    2009       10   7
                                                                             2009    10    8




                                                          i
      ..................................................................       i
........................................................................       1
........................................................................      11
    ....................................................................      19
      ..................................................................      36
                            ............................................      37
                     ...................................................      39
    ....................................................................      42
    ....................................................................      44
    ....................................................................      52
             ...........................................................      56
........................................................................      79
                   .....................................................     127
    ....................................................................     133
........................................................................     135
    ....................................................................     137
                   .....................................................     176
........................................................................     177
           .............................................................     186
                 .......................................................     194

                ........................................................      I-1
                          ..............................................     II-1
             ...........................................................    III-1
             ...........................................................   IV-1
                                         ...............................     V-1
                    ....................................................   VI-1
                                   .....................................   VII-1



                                    ii
       SAI             2008




100%



                        2008      12   31   80.6%




             15   25




                              1
                                                          2006      2007            2008    12      31
      2009 6 30
83.3% 80.1% 86.7%                87.5%




                                                   2001    10                   2003        5
                                                          20                                                            12

                                         848,800                              2008                361,000
                            135.1%




        2008 12             31
   70.6% 65.0%                    2008     12 31
     1,411.7                             489.9                   2009   6     30
                                               917.2                        278.0                        2006    2007
 2008     12     31                                2009    6     30
                                         (6.7)                    177.0                            430.1
 232.5                                                                       2006          2007     12 31
               2009     6    30                                             135.1                        38.3
        11.0                        2008     12    31                                      21.3



                                                                            2006     2007                2008   12 31
   2009        6 30                                                            287.3                            734.5
               900.6                        1,306.9



                 2001       10


                                                           2
                   2004

  1997      1998      1999           2003
          2003
                          2006
600,000




                                 3
            (i)          (ii)
(iii)             (iv)




2008




        4
2006   2007   2008   12   31   2009   6   30




                     5
6
                                          12    31                             6   30
                              2006             2007        2008         2008            2009



...........................    485,054          783,717    1,411,713     619,960         917,163
    .......................   (256,566)        (464,166)    (828,156)   (351,722)       (586,072)
...........................    228,488          319,551     583,557      268,238         331,091
    .......................      1,037              987       1,352          499             208
    .......................     (8,909)          (9,933)    (15,088)      (7,727)         (7,834)
    .......................    (40,718)         (58,603)    (79,946)     (25,739)        (45,448)
    .......................    179,898          252,002     489,875      235,271         278,017
    .......................      5,307           27,899      36,469       12,979           2,771
    .......................   (161,201)         (95,963)    (58,492)     (26,563)        (44,030)
      .....................     24,004          183,938     467,852      221,687         236,758
  .........................                      (8,055)    (39,192)     (21,489)         (4,234)

           ................     24,004          175,883     428,660      200,198         232,524


             ..............     (6,729)         177,049     430,133      200,721         232,487
         ..................     30,733           (1,166)     (1,473)        (523)             37




                                          7
                                                     12      31                        2009
                                        2006         2007         2008             6    30



               ................          611,025     1,123,091    1,751,968        2,176,570
...............................           14,948       291,874      488,655          391,293
       ........................          103,787       123,410      174,986          119,012
       ........................          729,760     1,538,375    2,415,609        2,686,875

               ................           82,089      167,786      126,676             284,463
       ........................           37,652      154,530      227,422             231,546
         ......................          119,347      169,562       28,463             232,824
     ..........................            5,564       14,914       11,648              18,925
     ..........................          244,652      506,792      394,209             767,758

       ........................          157,334      316,754      500,262             560,115
               ................          117,031      317,092      572,710             515,064
                        .......          223,981      161,668      141,224             156,500
...............................           26,930
     ..........................            4,740        5,822        10,020           15,307
     ..........................          530,016      801,336     1,224,216        1,246,986
     ..........................         (285,364)     (294,544)    (830,007)        (479,228)
           ....................          444,396     1,243,831    1,585,602        2,207,647

       ........................          130,000      417,760      400,350             746,780
     ..........................           30,477       29,952       29,385              30,515
     ..........................                                     10,991              16,952
       ........................          160,477      447,712      440,726             794,247
...............................          283,919      796,119     1,144,876        1,413,400

                     ..........          269,533      782,899     1,133,129        1,365,616
     ..........................           14,386       13,220        11,747           47,784
...............................          283,919      796,119     1,144,876        1,413,400



                                    12    31                              6   30
                        2006             2007         2008         2008             2009



             ........    182,182          214,503      513,801      264,546             185,813
             ........   (416,868)        (815,043)    (741,011)    (370,475)           (384,968)
             ........    334,090          651,499       86,122       15,562             403,590

   ..................     99,404           50,959     (141,088)     (90,367)           204,435
                 ....     20,095          119,347      169,562      169,562             28,463
         ............       (152)            (744)         (11)         (77)               (74)
                 ....    119,347          169,562       28,463       79,118            232,824


                                    8
                                   6.97
                                                                         2,161


                    1,401.0                                        65%
                                                         12
                                                              12


                    543.9                                          25%


                    216.1                                          10%




20%   30%




             2008     12      31
      79.9                                2008   4




                                                     9
      2009       12        31


               (1)(2)
                        .................                                   450                          511

                         (3)
                               ..............                                0.26                         0.30



(1)                     2009      12   31
(2)       2009     12      31
                                             2009     6    30                                                  2009       12     31


                                                                                                                      C           1
(3)                                                        2009    12   31
                                                                2009    1    1                                        1,809,232,500
                                                                                                                  (a)
                                                                             (b)
(4)                                                                                   0.8811      1.00




                                                                                           6.03                       7.91
                         (1)
                               ..............................                     10,910                  14,311
                         (2)
                               ..............................                          20.1                    26.4
                                                       (3)
                                                           .....                           1.65                    1.95
                                                                                       1.87                    2.21



(1)                                                                                                                   1,809,232,500


(2)                                                                                        6.03                           7.91


(3)
                           1,809,232,500



                        6.03                        7.91
      0.8811      1.00




                                                                  10
Ace Turbo       Ace Turbo Group Limited            2008   7    1




                                  III     (7A)
                  III    (7)

Baslow          Baslow Technology Limited
                                  Strutt
                                            100%

                                                        2006   9   6

                                              Zhongguo Sun                Trevor
                Strutt

Bubbly Brooke   Bubbly Brooke Holdings Limited

                                                 100%




                                22                                 1961




                          11
                                 Trevor Raymond Strutt
                                          Baslow Bubbly Brooke


                                              2006    6     20        Proper Sonic
                  Finance Limited      20.2                                6.0
                                              2.0


                  Trevor Raymond Strutt
                           Zhongguo Sun         Baslow      Bubbly Brooke




                                                                               Deutsche
                  Securities Nominees Hong Kong Limited




Gold Stand Goal   Gold Stand Goal Limited



                                      eIPO

                                                    2007    9     4


                                                     2006    12       4




                                                            2008          12    23




                            12
                                 70%
 30%




        32

                                                 45,231,000




             2009   9   23

                               2007    1    26



80%

                               2001    10   29




                             294,001,500




       13
                           2009   9      30



                2003   4   15




                2007   1   30



2009   9   14



                                  2009        10
  8




                2003   6   11




           14
                              67,846,500
                               15%



                                                               Gold Stand
    Goal



              50%                                               50%



             2006A




               2006     6   23
                                                14




                                                           2009    9   30
                            2009   10    5

      144A



                                   55%
                  45%

S             S




                                         2006        10   30




             15
                      55%
       45%

144A                 144A

                                                  113,077,500




                            Kou Zhenwei

                     31

SAI      Strategic Analysis Inc.     2009     7   16




              Baslow                                            Gold   Stand
       Goal   Winford Global

                     571

                                              2003      6   24



                                              2009     9    3



                                   0.000001

                      2009 9       12
              2009    9 12




                                                                2009   6   19
                                                  50%
                                    50%




                 16
                                                       2004    9   17




                        31



                          2006




                     2006      2007      2008    12    31
                   2009 6     30




                 1933

                                                2007    6     20



    eIPO                          eIPO          www.eipo.com.hk



    eIPO

Winford Global   Winford Global Investments Limited




                             17
                        2006     4     12



                        2006     4     18




                        2008     10        15



                          2004        12        31
                        75%

                        2003     4    8



                        2007     3     22



                        2006     11        8




                                       2007          9   25




                        0.8811       =1.00
   6.8284 =1.00
1.00     =7.7501




*



                   18
                                      2006      2007   2008
  12 31              2009   6   30           82.1% 65.3%
62.8% 66.9%                          21.9%   15.1% 21.5%
24.3%




                                         2003

              2008




                                19
       2008



2008




               2008   12   31




              20
21
22
                                         2006     2007      2008    12   31
  2009 6 30
83.3% 80.1% 86.7%         87.5%




                                                       2006    2007      2008    12    31
                                                          (i)
2006   5          64.7%    (ii)                           2006 7              13.5%   (iii)
                            2007   2   34.1%    (iv)                                    2008
7          9.1%




                                        Zhongguo Sun
Trevor Raymond Strutt                                         Sun
   Strutt




                                          23
24
                                                             2006       485.1
       191%     2008             1,411.7




                                            2006     2007   12    31
2009   6   30                              135.1                 38.3           11.0
                2008   12   31                     21.3




                                           25
     10




          2009   7   31




26
       33%
                                       2+3

2007   3    16                                    2007   12    6
                                                              2008   1      1

                     25%                                             2007       3   16
                      2+3

                            2008   1      1




2008   12    31
              79.9                 2008       4
                                                   6




                            27
      2006    2007   2008   12   31   2009     6   30

      2006    2007   2008 12     31   2009 6 30
      285.4             294.5             830.0               479.2




      2006    2007   2008   12   31    2009    6   30




                                                                            2006     11
10
250                                                     25%
                                      250                             25%

                                            2031   11




                                                                               250
                             25%




                                      28
29
1978




       30
                                 70




          2005   10   21        75     2005   11    1
75



            30                                           75



          2007   5         75         106          106
                     75                 106
     75     2006 3 31
              2005 4 21




                           31
2008   1   1

               25%




                     32
      10%
                       10%




            10%



10%




                  33
                   (i)                                 (ii)
               (iii)




                                                    6.97

               3,702
2.05                                                     4.92




                                              Trevor Raymond Strutt
                     Baslow   Bubbly Brooke
       54.3%                                                     51.9%




                               34
Baslow   Bubbly Brooke        Gold Stand Goal   Winford Global




                         35
36
             571V




                (i)   (ii)
(iii)




        37
                              Butterfield Fulcrum
Group (Cayman) Limited




                         38
Zhongguo Sun

                          99-8-5B




               1617       268




               777    9       2701



                          8
                              5B




               2168
               16 306



                              5
               2     21B



                          6A




                                  2
                                      68



                                  2
                                      68




                                  1
                                      46


                                39
           8
                 11




                 8
        20
      100005



Conyers Dill & Pearman
Cricket Square
Hutchins Drive
Grand Cayman KY1-1111
Cayman Islands




           1
           28




                      12
                 6
      100022




      10
           8




      979
                      17



            40
1




388
  15




    41
           1518
             A 1702
           200135

     Cricket Square, Hutchins Drive
     PO Box 2681, Grand Cayman, KY1-1111
     Cayman Islands

XI
                    15

                         8

                         HKICPA
                         FCIS, FCS(PE), CPA, ACCA

     Zhongguo Sun



           99-8-5B




               11        37C



           8
               5B




     Zhongguo Sun




               42
Butterfield Fulcrum Group (Cayman) Limited
Butterfield House
68 Fort Street, P.O. Box 609
Grand Cayman KY1-1107
Cayman Islands




                          183
               17       1712–16




                    1

17   18




          25



                          218



                          148
               1




               43
                                  Strategic Analysis Inc.             2009 7 16
            SAI                 SAI                       Strategic Analysis Inc.
                                    SAI                             Strategic Analysis Inc.
                       SAI                                Strategic Analysis Inc.




SAI

                             Strategic Analysis Inc.    SAI
                    2006                                 SAI                         2008
                                         SAI                         76,500
                                       SAI

      SAI    1977
                                                           SAI



            SAI        SAI




              SAI




                                                  44
       SAI
                               SAI




                            (O2)          (N2)          (Ar)

                                   (He)          (Kr)          (Xe)   (Ne)

                                                                                    20.9%    78.1%
0.9%




         70
                     2002   2008                                             12.0
       30.1                          16.5%                                             4.7
              12.9                           18.2%




                                                  45
SAI                                         2002          12                        2008       47
      25.6%                                                           2002          2008

                            2002         2008                                   10

      5                                                                                                     4.7

                                                                                             4.2
      4
                                                                              3.6

                                                               3.0
      3

                                                 2.2
      2
                              1.6
               1.2
      1



      0
              2002          2003                2004          2005           2006           2007           2008




                     SAI                                                            2008    47                    2010
57                   2015           86                                                 10.1% 9.0%

                     2008           9.2%               2010          10.0%           2015          11.4%




                                                         46
                                                       10

12



10
                                                                                      8.6
                                                                              8.0
8                                                                     7.4
                                                              6.8
                                                      6.3
6                                             5.7
                                      5.2
                              4.7
                      4.2
4             3.6
      3.0


2



0
     2005    2006    2007    2008    2009    2010    2011    2012    2013    2014    2015




                                                       10
90

80                                                                                    75.6
                                                                              71.6
70                                                                    67.7
                                                              64.1
                                                      60.5
60                                            57.1
                                      53.8
                              50.9
50                    48.0
              44.0
      41.0
40

30

20

10

 0
     2005    2006    2007    2008    2009    2010    2011    2012    2013    2014    2015




                                        47
           SAI
           2008                               56.0%                                      2015
47.6%




                                          2007           489.3                      2008           2.4% 500.9
                         2008          2010                              4.8%                         2010
                       550

                                                                                                   2008         342
                                         2010                378                                              1,000
                                                                    2020
                    2008        11.0                        2010                  18.3
                    2008        58.4                        2010           64.4




                                                  15.5%            2003           12.3                     2008        25.2

                       10%                                                                            2010                  30




                                                                   10
                                                                                         2008                       2010
                                                                                          2010                       2015
                                2007              2008                  2010                       2015



 .........................   1.29       30%      1.35       29%          1.49      26%        5%    2.08     24%         7%
   .......................   1.20       29%      1.30       28%          1.50      26%        7%    1.99     23%         6%
       ...................   0.04        1%      0.04        1%          0.05       1%       12%    0.07      1%         7%
   .......................   1.71       40%      2.04       42%          2.64      47%       14%    4.43     52%        11%
   .......................   4.24      100%      4.73      100%          5.68     100%       10%    8.57     100%           9%




                                                           48
          SAI               2008                                                                    58%       27.2
                                                                                       42%           20.1




                                                            SAI                                 2010             25.6
              2015          43.1                          2010         2015
45%     50%




                                                          10
                                                                             2008                             2010
                                                                              2010                             2015
                              2007          2008               2010                      2015



  .......................    2.51    59%   2.72    58%          3.13   55%        7%         4.26       50%        6%
  .......................    1.73    41%   2.01    42%          2.56   45%       13%         4.31       50%       11%




                                                        2008                                                37.3%
14.4%    27.4%     20.9%




                            50%




                                                   49
                                                          10
                                                                        2008                    2010
                                                                         2010                    2015
                           2007          2008             2010                    2015



.......................   0.62    15%   0.75    16%        1.01   18%       16%    1.94   23%       14%
.......................   0.50    12%   0.55    12%        0.68   12%       11%    0.99   12%        8%
.......................   0.21     5%   0.29     6%        0.40    7%       18%    0.76    9%       14%
.......................   0.40     9%   0.42     9%        0.47    8%        6%    0.62    7%        6%
.......................   1.73    41%   2.01    42%        2.56   45%       13%    4.31   50%       11%




                                                2008
                                                  1,000




                                                50
                                               2008


                                                                (1)
            2008




                       Nippon Sanso
                                         1.4%
                             1.5%


                   3.7%

                                                        25.4%
                     6.6%



                     8.2%

                     APCI
                     11.1%


                                                       22.3%

                                        20.0%


               SAI



(1)   SAI
            APCI                      Nippon Sanso
                                                 SAI




                                          51
2002   6   29




  52
                    2004   5   17




2005   7   9




               53
2002   1   26




            54
2007   10   28   2008   1   1




1997   11   1




  55
                                    Sun             Strutt
                                                             Sun                Strutt
                                                    Sun                   Strutt


           2001          Sun              Strutt
                                                                          Sun              Strutt


                                                     2007
                                                                              1961




           2001    10



                    Baslow Technology Limited                                                                        Sun
                                        Sun                                                     60%    Strutt               20%
                                                                                                      (1)




                                    60%                                              40%
                                                             (2)




                                                   100%


                                                                   (3)




(1)
      Baslow        20%                                                                                     2005 10        2006
      2                       Baslow                Strutt                             Strutt                 2005 10        2006
        2                 Baslow 25%      40%
(2)
                                           2001     8   15

      31                                                                                                        31
                  2005    5    24
(3)




                                                                         56
                                                                                       80%




                                                                66,800,000               Baslow
       13,360,000                                          7,680,000                                     7,800,000
                                              18,800,000                                      13,600,000
                             5,560,000                                                  20.00% 11.50% 11.68%
28.14%        20.36%       8.32%

         2001       12     18       Baslow
       Baslow                                                                                         2004   7
                                                     8.32%                                                         20%
                         2004   7



                                         31                                                                      Baslow

                                              31
                                                                                  31
2007     1    1                                 31

                                                           2001    10



                           2001     10                     Sun           Strutt




                                                           2004    11                    2007     4
       1997         1998        1999                                    2003
                  2003
                                         2006
       600,000
                                                       100,000           2004




                                                              57
2008     9       10




                                             Sun         Sun
  2004       3        2005    1                    Sun




         2000 5              2007   4
2000       2006




         2000          2006




             2002      9       2006     11




             2004      5       2006     6




                                              58
       2001    10                                           2003       5
                                                2003    5
2008
              20                       12
                                            848,800
         2008       361,000                            135.1%




                          2001    10                               1
                           2003    4                               1
                           2003    4                               2
                           2003    6                               1
                           2003    6                               3
                           2004    9                               1
                          2006    10                               3
                          2006    11                               1
                          2006    12                               2
                           2007    1                               1
                           2007    1                               1
                           2007    3                               1
                          2008    12                               2




                                  59
      2005    1      1

             2005        1        1

                    Strutt

      60%                20%
                                               100%                     100%


            Baslow(1)                                                                  (2)




                    20.0%                                   11.5%                   20.0%                        20.4%                  28.1%




                                           75%                        75%                        40%                   75%


                                                 (3)                    (4)                        (5)                   (6)




(1)       2005      1        1                           Strutt                 Baslow 80%                          Sun
                                                          Baslow                                         Sun       2004 8      Strutt
                                                                                                                        2006 2
                                        Strutt                                                       Strutt          2006 2 20
                                                                                        Conyers Dill & Pearman
                                      Strutt
(2)                                                             100%           2005 1        1
(3)                                                    5%          Baslow         20%

(4)                                                    5%           Baslow          20%
(5)                                                    30%           Baslow          30%
(6)                                                    12.5%          Baslow           12.5%
(7)       2005      1        1         Baslow                                                    20%     11.5%   20%
        51.5%
(8)       2006      2                                  Baslow               Strutt                                                 47.5%
                                 Strutt                                      Baslow 80%                                        Baslow
                  16%



             2006        6        20

                                                        2006 4        18
                                                           2006       6 20



                                                                               60
                        14                                                                            2,000                  850
                      Bubbly Brooke                                                                 20.2
      14.2                       6




                                                        2006   6    20

                  Strutt


  60%               40%                           100%                          100%


        Baslow(2)                                 (3)                            (4)




               20%                               11.5%                          20%                      28.1%                        20.4%




                           75%                          40%                    75%                 75%                  75%

                                                                                                                             (5)




(1)                                                   Baslow                                         8,000
(2)                    2006         6   20                 Strutt                             Baslow 60%                              Baslow
        40%                              2006     6 20             Strutt                  Baslow                     2001     5 5
        Baslow                          20%           30% 5% 45% Baslow                                      2004   8 31       2005     10
        25     2006        2     20               Strutt
(3)                                              50%
(4)                                                      55% 45%
(5)                                              5%         Baslow        20%


             2006      6       20                                        2006    6     22

                                        Strutt                     100
               1.2%                                                                                                          Baslow
                                                               Strutt                100

      2006    6      22                                                         Baslow
                                                                                                                      48.5%




                                                                          61
                                                                                      (1)



                                Strutt


                 60%              40%                 100%                 100%                      100%

                                                                            (2)                            (3)
                         Baslow                                                              Bubbly Brooke


                             39.3%                        25.6%            1.2%                    10.1%                  23.8%




                                                          80%                               20%




         75%                             40%              75%                   75%                  75%




(1)
        Baslow
(2)                       100
(3)              2006    6   20                                                         Bubbly Brooke                     1.00
             850                                          2006    6   22               Bubbly Brooke    100%
                                                        Baslow              4                                    Bubbly Brooke
                        Baslow            2007   1    1.00


      2006   8     23

                                               2006   8    23                                       20%

                        2,000                                              20%




                                                                      62
                                                                       (1)



                                   Strutt


                       60%            40%               100%                 100%               100%

                                                                             (2)             Bubbly
                             Baslow                                                          Brooke

                                  31.7%                 20.7%                20.2%              8.2%          19.2%




                                                        100%




          75%                     40%                   75%                  75%                75%




(1)
                                                  Baslow
(2)



      2007     3     20

              2007     3   20

        (i)                2006       8     18
                                                              2006                              2,015
                                                                                                            14.3%
                       2,015                                                                            1,733
                                                                                     12.3%
                2006A                  Gold Stand Goal Limited          141
                                   2007 3 20                             2.0%

        (ii)                                     2006    8      18                     Baslow
                                                                                     2006                   Baslow
                       1,193
                2007     3 20                                   8.5%




                                                                 63
       (iii)                 6                                         2006     12   29                                         502
                                                                                                                               3.6%      2007
                3       20




                                                                                          (1)



               Strutt                           Strutt


 60%             40%             60%                40%                100%                     100%


                                        Bubbly                                                                            Gold Stand
       Baslow                                 (2)                                                                                          (4)
                                       Brooke                                                                              Goal
                                                                                                                                (3)




           31.8%                             6.0%                      15.2%                    27.2%            17.7%          1.0%       1.0%




                                                                                                100%




                                                                                                        (5)




(1)
                                                                 Baslow
(2)    2007      26
                  1     Strutt                                  100% Bubbly Brooke                                       Bubbly Brooke
                   Bubbly Brooke                     Baslow
(3)    Gold Stand Goal Limited
       Gold Stand Goal
(4)             2006A

(5)                                                                                                           2006   7   31
               75%                                   25%          Smart Excel Investment Ltd.



                         2007      5        30

          2007          5    30



                (i)      Baslow                                 Winford Global Investments Limited                       411
                                                                                                                               2.9%)

                (ii)                                      139
                                                                1.0%

                                                                               64
                                                                            (1)



                                             Strutt


                              60%            40%                                  100%
                Strutt
                                                                                                                 (2)
                                    Bubbly                                                                 Winford
                                    Brooke                                                                  Global
60%              40%
                                                       100%

                                                                                                                       Gold
       Baslow                                                                                                          Stand
                                                                                                                       Goal


                                       6.0%                                       24.3%                         2.9%              18.7%

             30.8%                                             15.2%                                1.0%                   1.0%




                                                                                       100%




                                                                                              (3)




(1)
                                                      Baslow
(2)     Winford Global Investments Limited
                         Winford Global
(3)                                          75%


      2007       6       29

             2007         6   29                                                          2
      102                                                                                           0.6%)
                                                                                   2




                                                                       65
                                                                  (1)



           Strutt               Strutt


 60%            40%   60%            40%            100%         100%

                            Bubbly                                                      Gold Stand          Winford
       Baslow
                            Brooke                                                        Goal              Global




           30.6%                6.0%                15.1%        24.1%          19.3%         1.0%   1.0%       2.9%




                                                                         100%




                                                                                (2)




(1)
                                           Baslow
(2)                              75%




                                                            66
                       2007        8      3

             2007        8     3           Baslow                                                                     282
                                                                              2.0%)

                                                                                  (1)



             Strutt                           Strutt


 60%              40%         60%                40%                100%        100%


                                       Bubbly                                                     Gold Stand                Winford
        Baslow
                                       Brooke                                                       Goal                    Global     (2)




             28.6%                         6.0%                     15.1%      24.1%    19.3%            1.0%       1.0%        2.9%   2.0%




                                                                                        100%




                                                                                                (3)




(1)
                                                                   Baslow
(2)
(3)                                               75%


      2007     11

             2007        11

                 (i)          2007         11          21                                 50
                                                                                                      0.3%

                 (ii)         2007         11          21                    Gold Stand Goal            50
                                                                                                             0.3%

                 (iii)        2007         11          19                    Deutsche Securities Nominees Hong Kong Limited
                                                                                                             488
                                                                                                                 3.2%
                                        39.3

                 (iv)                                                       Strutt       Baslow                  100
                                                            2007    11       11            Bubbly Brooke        100
                                                                             Bubbly Brooke               Baslow


                                                                                67
                                                                                      Strutt               Baslow
                              100                     Bubbly Brooke




          Strutt                    Strutt

 60%           40%        60%           40%            100%           100%

                               Bubbly                                            Gold Stand                Winford
      Baslow                   Brooke                                              Goal                    Global



          27.0%                     6.5%               14.6%          22.6%   18.7%          1.3%   1.3%      2.8%   5.2%




                                                                              100%



                                                                                       (1)




(1)                                        75%


                   2009       3     6

         2009        3    6                                                                         31




                          31



                                                 31




                                                               68
          Strutt                   Strutt

 60%           40%        60%           40%         100%              100%

                               Bubbly                                            Gold Stand               Winford
      Baslow                   Brooke                                                                     Global
                                                                                    Goal



          27.0%                   6.5%              14.6%             22.6%   18.7%        1.3%   1.3%          2.8%         5.2%




                                                                              100%




                                                                                     (1)




(1)                                      75%                                                             2008     12    23
                         70%


                                                    31

                                               31

                                                                                           31
                                                    31
           2005      5     24                                                                        2009         3     6



                                                                                                             31
                                                                 31




                          31
                     31                                     31
                                                                                                                       31
                                                                                                                       31




                                                            69
                                                    31
                                                                          31




                                                    3%                    31                          31

                                                                             31
                                                                                                           31



      31
                                                         47.4% 31
                                                                                  17.6%
                             31
            31                                1%     3%
                                     19.6%

(i)

                                              50%                                                31
      15

                             34.9%       6.1%

           15         2001    9     8
                                                         2007    11   8
                                  2009    6   10                                   2001   2007
                                              2001            2007    2009



                 15

                                              15




                                                         70
(ii)

                                                    55%    45%
31                 18

                                                                       22.5%     15.3%     11.2%

            18              2001         9    8
                                                          2007 11 8
     2009   6     10                                       2001   2007
                 2001      2007              2009

                                                                                                 18

                                                                                                                           18




                                                     2007    1     1



                   Baslow     Bubbly Brooke                  Baslow                     60%
                        Strutt                         Strutt                                        Baslow               40%
                                         Bubbly Brooke                                  Baslow



                                                                                  100%
                                                                                                           31

                                                                            31             15
                                                                                                                15
                   2007    1     1

                                                                                 100%
                                                                                                      31

                                                                       31                       18
                                                                                                                     18
                          2007       1   1                                                                                 31




                                                              71
                  Baslow                                        2001    12    18
                                          Baslow

                       31                                              2001    12     18
                                                                                    2006     8   18         2006   8   23

                  Baslow                                                                         Sun



                                 Strutt                                 Baslow        2001  12 18
                                                                                         Strutt      2007 1
                  26           Bubbly Brooke                                                 Bubbly Brooke
                                  Baslow                                                                Baslow
                      Bubbly Brooke                        Bubbly Brooke             2001 12 18



                  2009      9     16       Baslow    Bubbly Brooke
                                            Strutt                                         2001        12   18



                                            Baslow



                            Baslow        Bubbly Brooke                       2007    1      1
                                                 50%
         Strutt




                                III       (7A)                  The Baring Asia Private Equity Fund III




(a) 14

         2006     6    20
                                                                         14
                                2,000                850                      Bubbly Brooke


                                                           72
                                                                               23.8%       10.1%
  2006       6   23



                                                                                               48.5%




                                                      0.54
                  91.0%       93.2%
                                           Baslow




(b) 20.2

         2006     6    20
                                                          20.2                             6
                       2006   12      29                                             502

                                                           3.6%

                                            14.2

      20.2                                     6
                                                                                                          3%
                                                                                                   6
                                                                                                       0.93
                                                                       84.6%    88.2%

(c)          2

         2006     12    29                                                     102

                                                   0.7%

                                                   2006    12     31




                                                             73
102

                                 1.52
      74.8%   80.8%




      (a)                  (b)          (c)




                      74
Gold Stand Goal               1.3%           14,100,000    3,800,000   70.0%   2007 2


                                              5,000,000    4,024,643   10.5%   2007 11 20

Gold Stand Goal Limited
         2006A


                              1.3%           14,100,000    3,800,000   70.0%   2007 2


                                              5,000,000    4,024,643   10.5%   2007 11 20

Gold Stand Goal Limited
         2006A



                        LDK
Solar Co. Ltd.



Winford Global                2.8%           27,000,000   12,507,008   48.5%   2007 6 8

                                                                                    2007 5
                                             14,100,000    6,531,437   48.5%
                                                                               30

                              5.2%           28,200,000   13,207,656   47.9%   2007 8 6


  Deutsche Securities                        48,800,000   39,263,080   10.5%   2007 11 19
Nominees Hong Kong
Limited




         Gold Stand Goal             Winford Global


                                                                                       5.28


                                             75
                                                                                          12.4%      33.2%

    Gold Stand Goal                                                                                     3.17
                                                                                          47.4%       59.9%

                                                                                                   3.17
                                                                               47.4%          59.9%

    Winford Capital                                                                                     3.59
                                                                                          40.5%       54.6%




                2007      9   25                    50,000                           50,000                 1.00



        2008    7    21                                  1.00                     1,000,000
0.000001                                               50,000                   49,600,000,000
   0.000001                        400,000,000             0.000001




         2009    7   10
                                                                                        1,269,000,000
     200,000,000                                    2009     7 10
49,800,000,000                 0.000001                      200,000,000              0.000001



Baslow     Bubbly Brooke

                 Strutt
                                                                 Baslow              Strutt
  Baslow        Bubbly Brooke                    40%                                            Bubbly Brooke
                                       Baslow    Bubbly Brooke              Strutt              Bubbly Brooke
                              60%                                         Strutt
                                                                   Bubbly Brooke       Baslow
                              Strutt                                                                      Baslow




                                                      76
    Bubbly Brooke                                                                  13.4%     20.1%
                                                                                                       Strutt
                                  Baslow     Bubbly Brooke




          2006        9       8
                                            (i)                                                                    (ii)
                                                                                               (iii)
                                   (iv)




       2006       9       8




     ...............................................                                            21,531,023      14.0%
Gold Stand Goal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       1,469,238       1.0%
         ...........................................                                             1,469,238       1.0%
Winford Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       3,161,555       2.1%
            .........................................                                           28,200,000       2.7%
       ...............................................                                          55,831,054      20.8%




                                                                      77
                                                                                                                            (i)
                               (ii)

                   Bubbly                                        Gold Stand                     Winford
      Baslow
                   Brooke                                          Goal                         Global




           10.0%       16.3%          11.0%   17.0%          14.0%          1.0%       1.0%          2.1%          2.7%   25.0%




                                                                     100%




                                                                     100%




                                  75%                                                            75%

                      25%                             100%                                                  25%


                                  40%                                                            75%
                                                                                                            25%
                      60%


                                  75%
                      25%                                                                                   100%



                                  75%
                                                                                                            100%
                      25%


                                  75%
                      25%                                                                                   100%



                                  75%
                      25%                                                                                   100%

                                  75%


                                                                                          (1)               100%

                                  25%
                      75%
                                                                                                            100%
                                                                                   Ace Turbo
                                  45%
                      25%



                      25%         75%




(1)                                                      2007        6    20


                                                                     78
       SAI            2008




100%



                       2009       6   30                        89.3%




                                                    15   25




                    2001     10            2003     5
                                                  20
             12                  12
                           848,800                       2008       361,000
                  135.1%




                             79
          2008 12              31
     70.6% 65.0%                     2008     12 31
       1,411.7                              489.9                           2009      6     30
                                                  917.2                                   278.0                    2006    2007
2008        12    31                                  2009              6   30
                                            (6.7)                            177.0                              430.1
232.5
                                                                                              2006       2007      12 31
                 2009    6      30                                                    135.1                        38.3
     11.0                            2008       12        31                                      21.3




            SAI                                                2008
                                                                  2008 12        31
1,411.7                                  2008        12        31
                                                                   361,000                                    545,500
       13,650                                                                                                              1,861.1
                          1,369.5                                  65.1
                                                                            20
12




                        2001        10                                                2003        5

                                                                                                         20



                                                          2003      5




                                                                    80
                             SAI
        2008     20.1          2008     2010
12.9%      (i)                (ii)
                                (iii)




                                               2003
  5




                        81
     2009   6   30                                               89.3%



                                       15        25
                                                               2009   6   30
                                   87.5%




                            2003   5




                 Sun          Strutt
                                                Sun   Strutt
10




                 2003   5                  12



                                            82
                       1,234

               543.9

         848,800       2008    361,000
135.1%




                       83
          2006     2007   2008   12    31                        2009 6    30
                                            399.5               625.9
1,137.2          819.0                              82.4%   79.9% 80.6%        89.3%




                                                                          15     25




                                      84
                                                         40




                                           2006     2007      2008   12   31
                    2009 6 30
85.6                 157.8         274.5          98.2
       17.6%   20.1% 19.4% 10.7%




                                      85
30   45




          86
                           180




2001   10
            2003        2003   5



                   87
2003
20            12




                                   (1)




            2003   5   17,500   92%
                       630
                       18,000

            2004   5   17,500   77%(2)
                       630
                       18,000

1           2004   9   25,000   93%
                       800
                       25,000

1           2005   6   17,500   86%
                       630
                       18,000

            2005   7   22,000   86%
                       750
                       40,000

       88
                                                  (1)




1                  2007   5          22,000    89%(3)
                                     750
                                     40,000
                               (2)
1                  2007   9          22,000    47%
                                     750
                                     40,000

    1              2007   9          22,000    75%
                                     750
                                     40,000

2                  2007   9          6,500     68%
                                     6,500

2                  2007   11         42,000    89%(3)
                                     1,400
                                     60,000

                   2008   3          28,000    77%(2)
                                     900
                                     40,000

                   2008   7          28,000    99%
                                     900
                                     40,000

3                  2008   10         63,000    89%(3)
                                     2,000
                                     120,000

    2              2008   11         28,000    62%
                                     900
                                     40,000

3                  2009   3          22,000
                                     750
                                     40,000

1                  2009   4          3,800
        (4)
                                     4,000

                   2009   4          6,000
                                     180
                                     10,000

                   2009   6          6,500
                                     180
                                     10,000

              89
                                                                                                                          (1)




          2                                                          2009       7              22,000
                                                                                               750
                                                                                               40,000


                                                                     2006       7              1,860




(1)                               2009       6    30
                                 2009    6       30



                                                              x 24        x 181


(2)


(3)                  1           2           3


(4)   1                                                       70%




                          2008                                                                     8
              24                                                                                                    50%
                   2001      8                                       2003       5
                     21




                                                                                30%
                     80%                     2002      10                                              2004    5
                                                               20                              2008      3




                                                                                             50%
                                                            2008                500                           467
              2003       1                                         2004     9                            1
                                                       20                             2007    9        2009    3
                     2            3

                                                             90
                              1



 2002   12                                 2005     6                          1
                         30                       2009    7                           2




                                       2005                                 11%
  50%    2008                                                              46
114          2004 7                                        2005        7
                 12




                                                                                              2008
                                       14                                   40                   2006    5
                         2007     5                                1
                    12                      2007    11                                    2
                                  19



                                                                           8
                                      2008                         30                                   74
             2006    6                                  2007   9                                 1
                                                   15                                 2         2008    11




                                                                       2008                   500
             452              2006 4                                           2007       9
                                 16



             30




                                      91
2008   6




2008                   42        101




                    2008
                8           24




           92
                                                                       12      31
                                                                                                                                 2009     6    30
                                            2006                            2007                         2008
                                                           %                              %                       %                                 %




        ............................       53.4           11.0          89.4             11.4           83.3      5.9            38.8               4.2

        ............................      112.2           23.1         134.5             17.2           95.1      6.7            21.7               2.4

        ............................      115.7           23.8         119.6             15.3          140.1      9.9            88.7               9.7

        ............................      105.1           21.7         125.9             16.1          145.9     10.3            83.3               9.1

        ............................       94.6           19.5         139.8             17.8          132.1      9.4            64.8               7.1

        ............................        4.1            0.9          20.6              2.6           13.9      1.0             2.8               0.3

       (1)
             ..........................                                104.2             13.3          363.8     25.8           242.3           26.4

       (1)
             ..........................                                 15.1              1.9           26.9      1.9            45.6               5.0

       (1)
             ..........................                                 34.6              4.4          162.6     11.5           109.4           11.9

       (2)
             ..........................                                                                153.0     10.9           101.1           11.0

       (2)
             ..........................                                                                 95.0      6.7           101.7           11.1

       (3)
             ..........................                                                                                           2.7               0.3

       (3)
             ..........................                                                                                          14.3               1.5


      ..............................      485.1          100.0         783.7          100.0        1,411.7      100.0           917.2          100.0




(1)                                                        2006    12     31
(2)                                                        2006         2007        12     31
(3)                                                        2006         2007             2008     12     31




                                                                  12     31                                            6   30
                                                  2006                 2007                     2008            2008                    2009



      ........................                           0.77                  0.90                    0.79             0.89                   0.69
      ........................                           0.97                  0.88                    0.76             1.18                   0.68
      ........................                           1.77                  2.55                    3.21             2.64                   1.60
                            ...........                  1.03                  1.36                    1.44             1.45                   0.89




                                                                  93
      2               2009   11   22,000
          (1)
                                  750
                                  40,000
                      2010   1    55,000
                                  1,600
                                  100,000
      2               2010   4    6,500
                                  180
                                  10,000
                      2010   7    60,000
                                  2,000
                                  60,000
                      2010   7    60,000
                                  60,000
                      2010   7    60,000
                                  60,000
                      2010   7    60,000
                                  60,000
      4               2010   7    45,000
                                  1,500
                                  70,000
                      2011   1    28,000
                                  900
                                  50,000
      3               2011   12   28,000
                                  900
                                  50,000


                      2009   10        3,000
                                  100
                                  9,000
                      2010   3         500
                                       150
                                  50



(1)        70%




                 94
                                          2006        11
10



     25%   49%



                                          250
                       25%                       10



                 250                25%



                             2031   11




                        95
        2008       11   28




70%    30%                                84
        36




                             70%




      2009     6    2
                                                     2008




50%                           50%
                               280




                             50%               50%




                                     96
                                                    (i)
                      (ii)



   1.66




                           2008   10   15                   2008




                                        2006     2007     2008   12   31
      2009 6 30
83.3% 80.1% 86.7   87.5%




                                            97
                         80%




                        2006    2007        2008   12 31                  2009 6 30
                          98.4% 74.6%      80.2%   73.7%   2006   2007     2008 12 31
                         2009 6 30                                               27.8%
17.5%       29.3%   29.3%
                                                                  5%




                                          2006   2007   2008 12 31
2009    6     30                                  82.1% 65.3% 62.8%   66.9%     2006
2007         2008   12   31                     2009 6 30
                          21.9%   15.1%    21.5% 24.3%
                                                                                       5%

                                           30      45




                                                   98
                                           15     25




                                     SAI               2009    7    16
                      1,000

        2008                                            87%              SAI
               2008




                                                              (1)
      (2)               (3)

SAI                      2008                                 47
                                           APCI




                                99
      12




100
2009   6   30   920




                      101
             2009   6   30



             ................................................................             7
           ..................................................................           478
             ................................................................            47
       ......................................................................            83
           ..................................................................            98
                            .................................................           207
       ......................................................................           920




                        2006        2007   2008    12     31          2009   6   30
                                                                      19.9
38.9                         51.0                 35.8                                4.1%
5.0%         3.6%   3.9%




       (i)                                                     (ii)




                                                         102
            (a)
      (b)




103
                                                                              2006         2007
                                                                            2008 12        31

                                                                              2009    6    30




                                                                                      4.4%
                                                                             11.5%       11.9%

              1
                                                                             34.6
                                                                                             162.6

                                                                                     109.4



                                                                               -1% 4%
                                                                             13.3% 9.2%


                                                                                      1.9%
                                                                             1.9%        5.0%


                                                                             15.1
                                                                                           26.9

                                                                             45.6


                                                                             -2 % 0 . 4 %
                                                                             -1.3% -1.9%




              2006    2007   2008 12 31                          2009    6 30
                              485.1               783.7                 1,411.7
917.2                               2006     2007    2008   12   31                             2009
  6 30                                                                              24.0
      175.9   428.7            232.5


                                       104
                 2006      2007
               2008 12     31

                2009   6   30




                             6.7%
                   11.1%

                                  95

                   101.7



                             8.0%
200,000            18.4%


2008      11
24




105
               2006         2007
             2008 12        31

              2009    6     30




              1 9 . 5 %
              17.8% 9.4%
                 7.1%

              94.6
                             139.8

                          132.1

                     64.8



       2.6    103% 34%
              8.0% 5.9%
 0.3




106
               2006      2007
             2008 12     31

              2009   6   30




              1 1 . 0 %
              11.4% 5.9%
                 4.2%

        42    53.4
                         89.4
  0.2
              83.3
                         38.8



42.2          27%        50%
              2.4%       1.2%




107
                           2006      2007
                         2008 12     31

                          2009   6   30




    2   2007                          2.0%
9                            1.5%



                                      3.5%
                             2.3%




               2
        2




                   108
        2006      2007
      2008 12     31

       2009   6   30




          1.6%


              14.3




       1.6%




109
                                    (i)
(ii)




                                          (3)   (10)
       (12)   (14)

                     (15)   (16)




                                   110
                                          75%




                              4



4                           2007    12     31
    4




                      (i)                 (ii)
        (iii)                      (iv)




                111
(1)


(2)




(3)




      112
(a)   2006   3



                  1.4




(b)   2007   10

       1.1



(c)




                        113
                                    20,000                 100,000
2008     1   21     2008   10   6



       (d)                                                        2004    4   26



                                        2006        2007          2008   12 31
                                               1,037,000                 987,000            1,346,000



       (e)                                                                    6,500




       (f)
             70%   30%                                                   9,800




                                                                                      (i)
                                                                  (ii)




                                1                   2007      9                                  2007   9

                                             2008   1     8       2008    2   20




                                                    114
                                                            100,000            500,000




            2008       4       10                                                 2008       8        1



                                        1          2007 9
                2007       9        2       2008     3 2
                                                                                                          100,000
       500,000




            2008       6       30                       1                                                       2008   9
  12

            2
                                                                      2008    9
                                                 2008       10
2008   11                                                                2008        11

                                2008 3                                       2008     2          25
                                  2008 3            1

            2008       6       26                                              2008          7        25



                                2008        7                                2008        6       4



            2008       11       18                                                  2009         3        13



                                2008        12                                    2008           12        23




                                                   115
    2009   6        19                                                                   2009      7
                         2009   7      20



    2008   10                   3
                                                                                            2009
1    12
                                                       3
                         3      2008        10                  2009    8   21
                                                           3                         2008     10



                1




                                                               2009    10

                                                                                 1




                                                                                     i

               ii




                                                 116
(a)




      1.   i)           i)



                        ii)
           ii)

                        iii)        2008   11
                               10
           iii)



      2.                i)



                        ii)




                  117
3.                i)




                  ii)    2008   5   8




                  iii)




4.   i)           i)

                  ii)

     ii)

     iii)




5.   i)           i)

     ii)          ii)




                  iii)




            118
(b)



      (i)




      (ii)




      (iii)




      (iv)




(c)
                    Zhongguo
      Sun




      (i)




              119
      (ii)




      (iii)




      (iv)



      (v)



      (vi)



      (vii)

(d)                 Zhongguo Sun




      (i)



      (ii)



      (iii)



      (iv)



      (v)



      (vi)

(e)




              120
(f)   2008   6   15




(g)   2008   6   15                (i)
                      (ii)




(h)




(i)




(j)




                             121
                                                  2009   3   12




Baslow     Bubbly Brooke



                                                             45.3         (a)
                                                                   (b)
                           2008   11   24          Baslow    Bubbly Brooke
                                                                      (a) (b)

    45.3                                                      (1)



                                                                    (2)




                                            122
2008   11   28
                                70%

                 30%

                                                         14A.11(1)
                             14A.13(1)(a)
                                              14A




2008   11   28




                 20                         2029    10     30




                       123
                      2009 4
                        2006         2007          2008    12     31

                                                                2009     4            2009 7   31
                               3.5                        4.7                           5.2                      5.2
                                                                                                                         2009
  4      2009     7     31                                                                        1.8                     2.5
                      2.7                         2.6
                      1

                                                                20                         2029     10     30
                                  2009       12    31                                      82.5
                110                                               2009       12       31                                   34
                                                  45




          (a)

          (b)

          (c)                            1                                        2                      2009    11




          (d)




           2.5%                              14A.16(5)                                14A.17
                                                          14A.48
14A.37           14A.41              14A.47                                                                     14A.45
14A.46




                      14A.17                                    14A.16(5)
         14A

                      14A.35(1)                                                                   14A.33


                                                            124
                                                                 14A.35(2)




                                                                 14A.42(3)



(a)                                                                   14A.35(1)



(b)                        20                  2029 10      30
                                     14A.47      14A.48




(a)                        20                  2029   10    30
                    2009   12   31                             82.5
                    110                                     2009 12    31
               34                                          45

(b)

(c)


(d)
      14A.37         14A.41                                      14A.45           14A.46



(e)

(f)                                                                               14A




(a)


(b)                                      14A.42(3)



(c)


                                         125
(d)



(e)




(f)




(a)

(b)




(a)




(b)



(c)



            14A




      126
      Zhongguo Sun              45            2007           11    12                         Sun
                                  2001
Sun                                                                     Sun                           10
                                Sun                                                         Sun
      1989                                                                    Sun
             13.51(2)

                           51     2007        11        12
               2001        10

                                            6                                             2007    4



                                                       1982
                                                    13.51(2)

                      42        2008     12        18
                                                                                          2006    6
                                            10
                                       Shanghai Dragon Bat Wines & Spirits Limited (Bacardi & Company
(China) Limited                         Avant-Garde City Group                               1990
                                            2000     2002
                                                                   13.51(2)




                           43     2008        7     15



                                       19




                                                                  127
                                                                1990
                                                             13.51(2)




                     40          2009     9    12




         10                             1991                                               2005

                   13.51(2)
                                                                             3.10(2)

                   43               2009       9    12
Comtech Group, Inc.                                                          2008      1    1



              10                           1994
                                                             13.51(2)

                    54        2009 9                12
        York International Corporation
                                2005                Johnson Controls International                        York
International Corporation
                                                           2007                            KHL Partners
                                        Fluidra, S.A.
                                                         Fluidra, S.A.
                                                           Henan ADD Electrical Equipment Co. Ltd.
         1980             1982
                                                                  13.51(2)




    Trevor Raymond Strutt                     58                                    Strutt
                                                                         Strutt                             20
                                                                               Strutt             1975




                                                           128
                                              2001                                 Strutt



                  43                                                                     2001   11



                   6                                                              1989




                39
              2007 1                                                         15

                                                                 1992
                2000




                   30          2008   7       1                                          2009    2   17
                                                             8



                                                                        Avex Group Holdings Inc.
                        Avex Group Holdings Inc.

    2003

                 47            2009       2       17
KCS Hong Kong Limited




(Andrews University)                                              (University of Wolverhampton)




                        8.12




                                                       129
            8.12



                                 Sun




Sun




                   3A.19
        3A.23

(i)

(ii)

(iii)



(iv)




                           130
             3.21                                                      C3




                                                B1




                                                     Zhongguo Sun
                                                       Zhongguo Sun




2006         2007   2008   12   31                      2009      6   30
                                           30                  1.3          2.8
       1.5


                                     131
             2006         2007        2008       12        31                        2009      6    30

                                                 1.8                        2.6                    3.1
1.2




             2006         2007        2008       12        31                     2009   6    30                    2
  1      1          1
                                                                                                            1.2
             6.5                       6.1                            2.2




                                    2006     6        20          Baslow                                   Baslow
                                 (1)                                                         (2)
 (3)                                 (4)
Baslow             200                                                                                   1.4%
                   2007   11     11
                               25




                                                                132
                                                                                                                          (i)
                                    (ii)                                                                    XV        2         3

                                                                                                      5%




Baslow Technology
  Limited . . . . . . . . . . . . . . . . . . .                           196,800,000           13.4%       181,661,461             10.0%
                                     (1)
Trevor Raymond Strutt . . . . . . .                                       196,800,000           13.4%       181,661,461             10.0%
Bubbly Brooke Holdings
  Limited . . . . . . . . . . . . . . . . . . .                           295,200,000           20.1%       295,200,000             16.3%
             (2)
                   ....................                                   295,200,000           20.1%       295,200,000             16.3%
                                             ....                         215,000,000           14.6%       198,461,454             11.0%
             (3)
                   ....................
                                                                          547,400,000           37.2%       505,292,093             28.0%
       (4)
             ......................
                                                                          215,000,000           14.6%       198,461,454             11.0%
                                    ..........                            332,400,000           22.6%       306,830,639             17.0%
             (5)
                   ....................
                                                                          332,400,000           22.6%       306,830,639             17.0%
                                   III
   (7A)                          .............                            274,300,000           18.7%       252,768,977             14.0%
Baring Private Equity Asia
  GP III Limited(6) . . . . . . . . . . . .                               274,300,000           18.7%       252,768,977             14.0%
                           (6)
Jean Eric Salata . . . . . . . . . . . . .
                                                                          274,300,000           18.7%       252,768,977             14.0%
                     (7)
                           ...............
                                                                           77,000,000             5.2%       48,800,000             2.7%



(1)      Baslow                                            Equity Trustee Limited   Equity Trustee            Equity Trustee
                                       TRS Trust            TRS Trust     Strutt                                                      TRS
         Trust                          Strutt                                      Strutt            TRS Trust
                     Baslow                           Baslow    Bubbly Brooke
                                           Baslow Bubbly Brooke
(2)      Bubbly Brooke                                            Equity Trustee           Equity Trustee
         LHM Family Trust                            LHM Family Trust                   Sun
                                                               LHM Family Trust
                                              LHM Family Trust                                Bubbly Brooke                          Balow
            Bubbly Brooke                                                                                              Baslow       Bubbly
         Brooke
(3)                                                          50%                                45%
                                                          505,292,093
                                                          31




                                                                        133
(4)                        50%                                                                198,461,454
                                                                                              31

(5)                    55%                                                               306,830,639
                                                                                          31

(6)   Baring Private Equity Asia GP III Limited                        Baring Private Equity Asia GP III, L.P.
                                          The Baring Asia Private Equity Fund III, L.P.1                                The
      Baring Asia Private Equity Fund III                                                                      III     (7A)
                                            Jean Eric Salata   Baring Private Equity Asia GP III Limited
                        III      (7A)              Jean Eric Salata
                 III      (7A)                  252,768,977                         Jean Eric Salata

(7)




                                          (i)                                   (ii)
Baslow        Strutt                    Bubbly Brooke
                                                                                                               54.3%




                                                            134
50,000,000,000        0.000001             49,800,000,000
       0.000001                200,000,000        0.000001
          ..........................................................         50,000


1,270,000,000       0.000001     ...................................          1,270
200,000,000              0.000001     ..............................            200




50,000,000,000       0.000001     ..................................         50,000


1,270,000,000       0.000001     ...................................          1,270
200,000,000              0.000001     ..............................            200


339,232,500       0.000001      ....................................           339


200,000,000       0.000001      ....................................           200


1,809,232,500       0.000001     ...................................          1,809




                                                                       (a)
                                       (b)
                          (c)




                                         135
(a)         20%



(b)




(a)

(b)



(c)




                  10%




(a)

(b)



(c)




      136
                                                      12    31                             6    30
                                          2006             2007        2008         2008             2009



      .........................            485,054          783,717    1,411,713     619,960          917,163
          .....................           (256,566)        (464,166)    (828,156)   (351,722)        (586,072)
      .........................            228,488          319,551      583,557     268,238          331,091
            .....................            1,037              987       1,352          499              208
            .....................           (8,909)          (9,933)    (15,088)      (7,727)          (7,834)
            .....................          (40,718)         (58,603)    (79,946)     (25,739)         (45,448)
            .....................          179,898          252,002     489,875      235,271          278,017
            .....................            5,307           27,899      36,469       12,979             2,771
              ...................              268            2,350       5,291        2,701             1,798

                   ................                                        1,555               742          796
                      (1)
                                  .                          12,478
                            (1)

                     ............                                         21,301       1,724
              ...................            5,039           13,071        8,322       7,812              177
            .....................         (161,201)         (95,963)     (58,492)    (26,563)         (44,030)
                         ........          (12,509)         (42,575)     (66,184)    (30,454)         (34,510)
                             ....           (2,318)          (2,675)      (2,633)     (1,317)          (1,244)

                                  ....     (11,190)         (10,555)      (9,148)     (4,555)            (4,373)
             (1)
                                    ...    (78,899)         (50,810)                                  (10,953)
                                  (1)

                     ..............        (55,041)
                      (1)

               ................             (1,117)
            ...................               (163)          (2,191)     (2,727)        (869)            (163)
                   ............                 36           12,843      22,200       10,632            7,213
            ...................             24,004          183,938     467,852      221,687          236,758
        .......................                              (8,055)    (39,192)     (21,489)          (4,234)

        .......................             24,004          175,883     428,660      200,198          232,524

                       ............         (6,729)         177,049     430,133      200,721          232,487
                   ................         30,733           (1,166)     (1,473)        (523)              37


(1)                                                                                                  C        22
       23
                                                      137
                                                    12     31                       2009
                                        2006        2007        2008            6     30



               ................         611,025     1,123,091   1,751,968       2,176,570
...............................          14,948       291,874     488,655         391,293
       ........................         103,787       123,410     174,986         119,012
       ........................         729,760     1,538,375   2,415,609       2,686,875

               ................          82,089      167,786     126,676            284,463
       ........................          37,652      154,530     227,422            231,546
         ......................         119,347      169,562      28,463            232,824
     ..........................           5,564       14,914      11,648             18,925
     ..........................         244,652      506,792     394,209            767,758

       ........................         157,334      316,754     500,262            560,115
               ................         117,031      317,092     572,710            515,064
                        .......         223,981      161,668     141,224            156,500
...............................          26,930
     ..........................           4,740        5,822       10,020          15,307
     ..........................         530,016      801,336    1,224,216       1,246,986
     ..........................         (285,364)   (294,544)   (830,007)       (479,228)
           ....................         444,396     1,243,831   1,585,602       2,207,647

       ........................         130,000      417,760     400,350            746,780
     ..........................          30,477       29,952      29,385             30,515
     ..........................                                   10,991             16,952
       ........................         160,477      447,712     440,726            794,247
...............................         283,919      796,119    1,144,876       1,413,400

                     ..........         269,533      782,899    1,133,129       1,365,616
     ..........................          14,386       13,220       11,747          47,784
...............................         283,919      796,119    1,144,876       1,413,400


                                   12    31                            6   30
                       2006             2007        2008        2008            2009



               .....    182,182          214,503     513,801     264,546         185,813
               .....   (416,868)        (815,043)   (741,011)   (370,475)       (384,968)
               .....    334,090          651,499      86,122      15,562         403,590

     ...............     99,404           50,959    (141,088)     (90,367)          204,435

     ...............    20,095          119,347      169,562     169,562             28,463
           .........      (152)            (744)         (11)        (77)               (74)
                       119,347          169,562       28,463      79,118            232,824


                                   138
               SAI                                     2008




                                                                                                   15        25




                                                  2006        2007      2008    12   31                           2009
  6     30




                                                       B                     2006    2007   2008        12        31
                       2009      6    30

2006          2007      2008         12    31                    2009    6     30
                                                                                            B                     2006
       2007          2008   12       31         2009   6   30




                                                           139
       2006    2                           48%

                                              2006    2
              4%                                                             48%       52%
2006   6                                                           48%
                                                                                    2006    1
6

       2006 2
    60% 60% 73%           59%   60%                       36%   36%    19%    36%    36%



              2006    2     6
                                           2006   1       6




                                      20                                 12



                     848,800                                    2008                       361,000
                            135.1%




                                            140
       2006    2007   2008                2009   6   30
          83.3% 80.1% 86.7%          87.5%                2006      2007
                                                 2008            2009 6     30




                                                                               20
                          1990      6,230                        2008      34,500
                10.0%




                                                                            2006    2007
2008     2009    6   30                                          32.1               48.6
       75.9                  53.0




                                      141
2009    6    30                                                                                           1,306.9



                                                                                      12    31                      2009
                                                                      2006             2007        2008         6     30

            . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.9–7.0%     3.6–7.5%    2.5–9.7%     1.7–7.9%
            . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1–10.4%   6.3–10.4%   5.7–10.4%    5.4 –10.4%




        2008      1    1                                                                   33%
  30%                 3%                                                                              15%
                                                                                                      24%



                                                                                                   2+3

                                                                2008       1    1
                   33%              25%                                                               2007    12           2008
  2                                           2007       3    16                                               2+3
                                   2+3                                                                                 2+3
               2008      1     1
               2008      1     1                2+3




                                                                   142
                                                                                          %
                                                                                                                                       2013
             (3)
                             2006         2007           2008             2009           2010               2011       2012
                   .....          15          15             25               25                25              25            25             25
                                    (2)
                   .....                     7.5           12.5             12.5                25              25            25             25
                   .....          15          15           12.5               25                25              25            25             25
                                    (1)          (2)            (2)
                   .....                                                    12.5              12.5            12.5            25             25
                   .....          15         15            12.5               15                25              25            25             25
                                    (2)          (2)
                   .....                                   12.5             12.5              12.5              25            25             25
                                    (1)          (1)            (2)              (2)
                   .....                                                                      12.5            12.5          12.5             25
                                    (1)          (1)            (2)              (2)
                   .....                                                                      12.5            12.5          12.5             25
                                    (1)          (1)            (2)              (2)
                   .....                                                                      12.5            12.5          12.5             25
                                    (1)          (1)            (2)              (2)
                   .....                                                                      12.5            12.5          12.5             25
                                    (1)          (1)            (2)              (2)
                   .....                                                                      12.5            12.5          12.5             25
                                    (1)          (1)            (1)
                   .....                                                        25              25              25            25             25
                                    (1)          (1)
                   .....                                      25                25              25              25            25             25
                                    (1)          (1)            (1)
                   .....                                                        25              25              25            25             25



(1)
(2)
(3)                                                                                           2009      6    30
                                    2+3

(4)      2010              2013



                                                                                                                        [2000]49

                                                           40%


                                                                                                                       2008        5    16
                                                       2008     1     1                                     2009     6 30
                                                                                 2007         12       31
             18.5

                                                                                       2008        1    1

                                                                                                                       10%
                                                                            2008
      2009         6   30                                                                                            2008
                                          17.0

                   2006      12     31
                                                                                                                              2007      12        31


                                                                          143
                                                       8.1                     2008   12   31
                                  39.2                  2009     6   30
                 4.2




                                                                          20
                                                         2008




                     2006     2007       2008   12     31                              2008       2009   6   30




(a) 6

         2006    6     23                                Proper Sonic Finance Limited            20.2
                            6.0                                        2006 12 31
  20.2                                                                              2.5
         20.2                                         Proper Sonic Finance Limited
2006     12 29                                                                                  502
                 1.1                                   2006     12   31

(b) 2

         2006    12 29
                 2.0                            2.0




                                                      144
                                                                            2006           2007           12    31
                                            2007     6   29           2.0
                                      102                            12.5                                                2007   12
31

(c)

         2006        6    23
       2,000                                  14.0




            2006     12    31


                                 1                   7.999


                                 55.0                                          2006        12        31




                    2006 12 31
              ...............................                        85,600        108,578                                 194,178
                        2006 12 31
                           ..................                   122,627               20,048                   106,544     249,219
     2006    12      31
                      ..........................                    (37,027)          88,530               (106,544)       (55,041)


                                                              2006          2007           2008           12    31
     2008          2009   6     30

                                     6.0                                           2.0




                                                                            4(a)      22        23




                                                              145
    2006

                              2006




                       75%      70%




                                      C
1          (i)         (ii)




                 146
                                                                                                          C          22
23




                                                                                                   15    25




                                             12 31                                            6 30
                           2006                2007                2008                2008                   2009


                                  %)                  %)                  %)                  %)                     %)



     . . . . . . . . . 399,470     82.4   625,929      79.9 1,137,167      80.6   494,594      79.8     818,969       89.3
     . . . . . . . . . 85,584      17.6   157,788      20.1 274,546        19.4   125,366      20.2      98,194       10.7
     . . . . . . . . . 485,054    100.0   783,717     100.0 1,411,713     100.0   619,960     100.0     917,163      100.0




                                                            147
                                      12    31                                                      6   30
                   2006                    2007                   2008                      2008                      2009




       .......   57.0     67.8%     68.2          58.6%     105.4        55.2%            50.3     58.0%            66.7      60.3%
       .......    6.5      7.7%     15.9          13.7%         33.8     17.7%            10.7     12.3%            19.7      17.8%
       .......   20.6     24.5%     32.3          27.7%         51.7     27.1%            25.7     29.7%            24.2      21.9%
           ...   84.1 100.0%       116.4 100.0%             190.9 100.0%                  86.7 100.0%           110.6 100.0%




                                                           12    31                                        6   30
                                             2006               2007               2008             2008                   2009


       ........................                     0.77               0.90               0.79             0.89                   0.69
       ....................... .                    0.97               0.88               0.76             1.18                   0.68
       ........................                     1.77               2.55               3.21             2.64                   1.60
                              .....                 1.03               1.36               1.44             1.45                   0.89




                                                                                                        2006               2007
2008     12 31                                     2008     2009         6    30
       84.2% 81.1%        87.3%   87.4%           88.2%




                                                           148
                                        12 31                                                        6 30
                      2006                2007                       2008                    2008                   2009


                             (%)                      (%)                   (%)                     (%)                         (%)



             . 215,912        84.2   376,373           81.1   723,149          87.3     307,247      87.4      516,746           88.2
     . . . . . 30,414         11.9    44,976            9.7    71,564           8.6      31,270       8.9       49,658            8.5
     .....       5,152         2.0     7,528            1.6    15,796           1.9       4,983       1.4        7,678            1.3
     .....       5,088         1.9    35,289            7.6    17,647           2.2       8,222       2.3       11,990            2.0
. . . . . . . . . 256,566    100.0   464,166          100.0   828,156         100.0     351,722     100.0      586,072          100.0




                                                              12    31                                     6   30

                                               2006                2007               2008          2008                 2009




      ....................                          862               1,030              1,937              588             1,626
  ........................                          392                 429                734              258               933
  ........................                          997                 949                841              321               425
  ....................... .                       6,299               7,103             10,852            6,525             4,133
  ........................                          359                 422                724               35               717
                                                  8,909               9,933             15,088            7,727             7,834




                                                              149
                                                12    31                                6   30
                                     2006            2007           2008         2008             2009




      ........................          1,282           3,196          3,605        1,589               2,392
      ........................            924           1,065            994          480                 512
            ..................          1,606              93            108           66                  79
          ....................          4,614           5,666          1,540          232                 119
               ...............          2,911           2,233          4,437        2,172               2,235

                         .......                           21            104                              (10)
          ....................          1,304           1,368          3,384          767               2,285
      ........................          1,405           1,252            111           81
                  (1)
                      ..........        1,800             700         (2,020)      (2,020)
                              ..        6,187           7,589
          ....................          7,692          22,703         33,223       16,344              26,480
      ........................          4,798           4,956         11,097        1,482               5,087

                            ...                                       10,721
                  .............                                        2,395
                    ...........         6,195           7,761         10,247        4,546               6,269
      ........................         40,718          58,603         79,946       25,739              45,448



(1)
                                                 2006        2007                                1.8
           0.7                                                             0.5                            2008
       6                      2008                          2.0




                                                150
2008         1    1
                         25%


2008          1   1                     2007     12        31

2008 5                                 [2008]52                   2008        1 1
  2009 6              30                                                       2007          12   31
                                             18,494,000
                                                                                                                                            C
         5




                                 2006          2007          2008        12        31                                    2008         2009
6       30


                                                                     12       31                                     6   30

                                                      2006                2007                2008            2008                  2009




         ........................                          100.0               100.0              100.0          100.0                 100.0
             ....................                          (52.9)              (59.2)             (58.7)         (56.7)                (63.9)
         ........................                            47.1                  40.8              41.3            43.3                  36.1
             ................... .                            0.2                   0.1               0.1
             ....................                            (1.8)                 (1.3)             (1.1)           (1.2)                 (0.9)
             ....................                            (8.4)                 (7.5)             (5.6)           (4.2)                 (4.9)
                  ....................                       37.1                  32.1              34.7            37.9                  30.3




                                      2006       2007             2008        12        31                                 2008            2009
    6        30




                  2006         2007      2008         12     31                                        2008          2009       6     30



                                                                     151
    2009       6   30                           2008     6     30




                                2008   6   30                                   620.0                  47.9%        2009
               917.2

               2009                                                              2009
                                                                3      2009       3
                   1                          2009      4                                                    2009        6

               2008                                                               2008
                                                                   2008     7
           3       2008    10                                                           2    2008     11

                                                       2008                                                2009



                                                                                                    2008
  125.4                       2009                            98.2

                                                                                                             2008
           1.45                                         2009                                0.89
                                              2008                               2.64                                    2009
                       1.60                                                                                       2008
      54%                2009                   40%




                       2008                            351.7                       66.6%       2009
586.1                                                                                                             2008
     56.7%              2009               63.9%

                                              20%                           2009
               10.7%           2009                                  2008




               2008                           268.2                       23.4% 2009                                 331.1
                                       2008                    43.3%           2009                    36.1%




                                                             152
               2008                      0.5                     2009                         0.2
       2009



               2008                       7.7                           1.3%   2009
7.8
                                                                  1            2008     2       2008   11




               2008                      25.7                    76.6%    2009                         45.4

                      2008                                 2.0
2009




                                               2008                        235.3                    18.2%
2009                      278.0                                  2008                 37.9%          2009
       30.3%



               2008                       13.0                    78.5%    2009                         2.8
                                                                                      2008
                          7.8             2009                                            0.2
2008
       2008                                                      1.7                  2009




               2008                      26.6                    65.4%    2009                         44.0

                                                        7.5
                                                        2009
                             11.0                2008

                      C           4(a)



                 2008                          21.5               80.5%     2009                        4.2
                                                                           18.5                        2009



                                                 153
6    30                                                                                          2007      12   31
                                     18,494,000               2008




                                                                         2008                         200.7
15.8%      2009                             232.5




      2009        6    30                                                                            25%
                              30%                                                         2008                          0.5
             2009                                    37,000

    2008     12       31                      2007       12    31



                           2007              783.7                        80.1%       2008               1,411.7


             2008                                                        2008
                                            2008     3                                                   2008      7
                                                     2        2008       11                                                   3
              2008          10

             2007                                                        2008
                                                                                                 1      2007    5
                                                1        2007        9                                                    1
           2007        9                                                       2    2007 9
                             2      2007 11                              1         2008 2
                                  2008 11

                             2007               157.8                          2008              274.5

                                                         2007                      1.36                                2008
                           1.44
                                     2007                     2.55                               2008                    3.21


                           2008      2007



                      2007                  464.2                        78.4%      2008              828.2
                                                   2008
    2007          47.5%             2008      50.9%                      (i)
                                                                                                                (ii)




                                                              154
              2007                   319.6                       82.6% 2008                    583.6
              2007           40.8%                    2008       41.3%




                      2007                  1.0                        2008                1.4




                      2007                   9.9                     52.5% 2008                      15.1
                (i)                            (ii)                   1    2008 2             2008     11
                                                                          1
                                                                                       1
              2008      8                                                                                          2008   11




                      2007                  58.6                     36.3%     2008                  79.9

                                                2008
       2008                                       13.1                    2007

                                 2007           7.5%            2008      5.6%



                                                             2007              252.0                    94.4% 2008
         489.9                                               2007      32.1%                  2008       34.7%



                      2007                  27.9                     30.8%     2008                  36.5
                                                             2007
         12.5                        2008                                                                   21.3



                      2007                  96.0                     39.1%     2008                  58.5
                                                                                       14.3



       2007                                                                                          50.8
2008
                                            C           4(a)



                                                               155
                     2007                              8.1                        2008                   39.2
           2007     4.4%                        2008          8.4%                                2008
                2008




                                                                              2007                       177.0                143.0%
  2008                         430.1




         2008        12        31                                                                                   25%
                                           2007                 1.2                         2008                   1.5


    2007        12        31                           2006     12       31




                               2006                    485.1                        61.6%       2007                 783.7


                2007                                                          2007
                                                  1      2007        5                                                    1   2007
           9                                                                  1      2007       9
                          2         2007    9                                                        2      2007     11

                                    2006                 85.6                            2007                157.8

                                                                2006                       1.03                               2007
                               1.36
                                                       2006                       1.77                                2007
                2.55
                                                                 2006


                                           2006




                          2006                        256.6                        80.9%        2007                 464.2
                                                                                                2006        52.9%           2007
59.2%                                  2007                                                                               2007

                     2006             83.3%             2007         80.1%
                     26.6


                                                                     156
       2006                 228.5                    39.9%      2007                  319.6
                                                     2006        47.1%             2007     40.8%
2007


         2007



2007                             1.0



              2006               8.9                     11.2%     2007                  9.9

2006          1.8%               2007        1.3%




              2006               40.7                     44.0%     2007                  58.6

                                 2006         8.4%           2007         7.5%




                                              2006                  179.9                     40.1%     2007
  252.0                                      2006        37.1%           2007            32.1%




              2006               5.3                     426.4%     2007                  27.9
  2007               2,000,000                                             12.5                  2007




              2006                  161.2                  40.4%        2007                   96.0
                                                                                  17.3



2006                                                                                                     135.1
         2007                               50.8                 2006                          135.1
                                                         78.9                        20,200,000


                                                   157
                                         56.2                2007                                50.8

                                                       C         4(a)




                         2006                                    2007               8.1
                                                                 2007




                                                                             2006         12    31
6.7                           2007                 177.0




      2007     12        31                                                                                25%



        2006        12    31                                                        30.7                        2007
        1.2                                                                                    2007        12     31




                                                            12    31                                   6    30
                                                2006             2007        2008               2008                   2009




                                     .....       182,182          214,503     513,801            264,546                185,813
                                     .....      (416,868)        (815,043)   (741,011)          (370,475)              (384,968)
                                     .....       334,090          651,499      86,122             15,562                403,590

                ...............                   99,404          50,959     (141,088)           (90,367)              204,435
                             ..                   20,095         119,347      169,562            169,562                28,463
                      .........                     (152)           (744)         (11)               (77)                  (74)
                                        ..      119,347          169,562       28,463             79,118               232,824


                                                            158
2009     6     30

       2009     6    30                                                              185.8
                            236.7                 50.9
                                                      64.4
       111.0                                                         4.3
3.2                                                                        (i) 2009
              2009                         2008               (ii)


2008     12     31

       2008     12     31                                                            513.8
                            467.9                  45.9
                                                             55.6
              22.6                                                            7.6
       17.8
                                                                                                    2008


2007     12     31

       2007     12     31                                                            214.5
                            183.9                  30.6
                                                             88.0
              64.9                                                            26.7
       10.1                                                                  (i)
       (ii)                                                          (iii)

                                    2007

2006     12     31

       2006     12     31                                                            182.2
                            24.0                  158.2
                                                              168.1
                32.2                                                            11.3
                4.1
                30.0                                                                         10.0




                                                  159
       2009    6     30        2008        6        30

         2009                                                                                                          2008
         78.7                                                                                                                               2009

                                                                                                                       2009
2008

       2008    12      31          2007        12        31

                                                      2007           2008                        299.3
                                                                                                                               2008
       2007

       2007    12      31          2006        12        31

                                                    2006             2007                      32.3




              2006          2007          2008       12 31                                2009      6      30
                                                    416.9                         815.0                                741.0
       385.0                          2006          1 1    2009 6               30                                                    (i)
                                                               (ii)                                (iii)
2006                                                48.5%                       (iv)




              2009     6     30                                                                             403.6
                                                                       773.2
         369.6

              2008     12     31                                                                                86.1
                                                                       580.7
414.7                                                                           79.9

              2007      12    31                                                                            651.5
                     (i)                                                     644.0               (ii)
              83.6                   (iii)                                             290.4
(i)                                194.1                      (ii)                     20.2                (iii)
                     88.8                      (iv)                                    65.6


                                                                       160
    2006       12     31                                                                       334.1
                                                226.0
           289.3                                                                                                        181.2




                                                        12    31                               2009           2009
                                         2006            2007                2008             6    30        8     31




........................                    1,463             5,013            9,646                6,775          6,482
                   .....                   82,089           167,786          126,676              284,463        351,187
           .............                                        928            1,872                1,872          1,872
             ...........                   4,101              8,973              130               10,278          6,623
           .............                  37,652            154,530          227,422              231,546        250,343
             ...........                 119,347            169,562           28,463              232,824        193,587
               ...............           244,652            506,792          394,209              767,758        810,094


           .............                 157,334            316,754          500,262              560,115        695,298
                   .....                 117,031            317,092          572,710              515,064        462,893
         ...............                   2,963              2,963            2,963                3,077          3,107
      ..................                  81,306
               .........                 142,675            161,668          141,224              156,500        157,027
    ....................                  26,930
      ..................                                      2,859             7,057              12,230         11,714
         ...............                    1,777
               ...............           530,016            801,336         1,224,216         1,246,986      1,330,039
               ...............           (285,364)       (294,544)           (830,007)         (479,228)      (519,945)

  2006         2007        2008 12        31            2009 6         30
285.4                       294.5                         830.0                              479.2

                           2006      2007            2008     12       31           2009      6      30

                                  2009 8        31
                                  519.9

  2006         2007     2008       12      31           2009       6    30
                  117.0                         317.1                          572.7                         515.1


                      2006        2007          2008    12      31            2009       6    30
         0.6                       9.5                         5.7                          10.2
                                            2006             2007        2008       12     31             2009 6        30
           85.3                         271.9                           519.9                             466.6


                                                       161
                                                                                                                       2006
       2007       2008       12    31          2009 6 30
                                                  157.3                        316.8                       500.3
              560.1                2006        2007     2008 12         31         2009 6           30
                                                     130.0                       417.8                          400.4
                746.8                              2006    2007              2008 12 31                  2009    6 30
                                                                                      C             19




                                                                                                                       2009
                                                     369.6
              773.2


                2006                 182.2                    2007                     214.5                           2008
                                   513.8               2009
                185.8

                                                               2009     6     30                                       2008
                12     31                 830.0                              479.2
                                                                                                                2008      12
                31                 28.5                 2009        6   30                 232.8

         2006                                                 2006           2007     2008 12 31
                            2006   6    23                                      Proper Sonic Finance Limited
20.2                                           6.0                                    2006 12 29
                                                                                       2.0
2006 6 23
2,000                                   14.0                 2006       2007           2008    12   31           2009      6
   30                                                                   224.0                       161.7
      141.2                         156.5


         2009     6     30                                              479.2
767.8
                1,247.0


         2009     6     30                                                      156.5                              2009
6   30




                                                         162
                                                      12




       2006          2007          2008            2009    6    30

2006        2007       2008                2009    6 30                                                         91.3
                     698.2                        670.0                   382.0

                            2009     12     31                                     632                          2010
  12   31                                 1,726
              100                                                                    11
                                                                                          2010        12   31
                                          1,726                          1,200

                                                            2010     7

                                   100

              2009          2010



                                                                         2009     2010    12     31




                                                          163
                                               12     31                     2009
                           2006                     2007        2008        6 30




           .....             212,990                  632,460     375,226      309,543
           .....             666,721                1,182,384     783,890    2,318,922
................             879,711                1,814,844   1,159,116    2,628,465

  ..............             663,256                  636,522     638,609    1,700,640
           .....              65,555                  598,242     260,402      603,390
  ..............             150,900                  580,080     260,105      324,435
................             879,711                1,814,844   1,159,116    2,628,465


                                                       1           3
                                1                      1           2
                                1                      1                        3
                                1                      2
                                2                                               2
                                                                   3            3
                                                       2
                                                       3
                                                       2




 12

              230                   2009   6    30

                2009   7    1

      2,161                                            6.97




                                               164
                                                                               12   31                              2009
                                                                2006            2007               2008             6    30


                                      ................          611,025        1,123,091           1,751,968        2,176,570


                                                                                                          2006      12        31
  2009        6       30
                                    2006       12   31
                                                     2                                      2007    12     31
                                               1         2                                                1
                                1                                              2
2008     12       31
                                       2                                                3
       2009       6        30                                                       3
       1




                                                                               12   31                              2009
                                                                2006            2007               2008             6    30


              ...............................                       14,948         291,874          488,655             391,293



2006     12       31                 14.9                    2008    12   31                   488.7
                                                2008                                                                               3
                                           2                                                         2009       6   30


                                                             165
                                                     2                                         3




                                                                          12   31                           2009
                                                         2006              2007         2008            6     30


         ...............................                   67,471              92,406      108,665          165,418
         ...............................                      798              22,069        9,216           49,883
              ..........................                                                   (10,721)         (10,721)
                                                           68,269          114,475         107,160          204,580
                      ....................                 13,820           53,311          19,516           79,883
                                                           82,089          167,786         126,676          284,463




                              30    45

                180


     2006       2007
                  2008   12   31         2009    6       30



     2006     12 31    2007    12    31
               2006 12 31       6                2007         12     31        11


                                            2008         12     31                      126.7




                                            2008         12     31                 126.7                      2009
6 30             284.5                                                          2008 12     31        15
2009 6   30      19
                                          2009       6     30                                        49.9


                                    2006        12 31                          13.8                   2007         12
31            53.3                                2007                          57.6




                                                  166
                          37.6
20                        2008     6         7




                                                 2008   12   31                 19.5                     2009     6         30
             79.9                                                                            2009    1   1


         2006        12       31                                         2007

                                                                  2007
                                                                                      2007
                                                             2008 12          31
                                                                 2008           26                         2009         6
30                   27



                                                                                                                 2009
                                                                         12    31
                                                                                                          6     30
                                                             2006             2007            2008
                          *
                              ......................           42               37              26               27



*                                                                                                          360
      2009   6   30                    181




                                                                          12     31                            2009
                                                             2006             2007            2008            6 30


     ...................................                       68,269         114,475          107,160         157,949
                          ....................                                                                   31,446
                      ........................                                                                   15,185
         ...............................                                                                         46,631
                                                               68,269         114,475          107,160         204,580


      2009       6    30                                                              46.6




                                                         167
                                                              12   31                       2009
                                                    2006       2007        2008            6 30


    ...............................                     562      9,498        5,719          10,204
    ...............................                  42,952    120,000      150,123         105,259
         ..........................                  42,392    151,878      369,792         361,318
                   ................                  31,125     35,716       47,076          38,283
...................................                 117,031    317,092      572,710         515,064




             2006        12        31


             2007        12        31


             2008        12        31


             2009        6     30


 2006   12     31             2009       6   30



        2007        12        31


                         2008           12   31

                                                                         2009     6   30




                                                  168
                             2008   12         31                             2009   6      30
                          2007
                     1                     1




                                                                   12    31                             2009                   2009
                                                      2006          2007             2008              6   30              8     31


           ....................                         96,000          165,000          329,200           412,200              454,542
                      .........                         61,334          151,754          171,062           147,915              240,756
                      .........                        130,000          417,760          400,350           746,780              645,742
      ........................                         287,334          734,514          900,612       1,306,895               1,341,040

                                                                   12    31                             2009                   2009
                                                      2006          2007             2008              6   30              8     31



               ...................                      67,000           87,000           22,000
           (1)
                ..................                     147,000          597,286          828,442       1,254,125               1,271,441


               ...................                                                                                               15,962
           (1)
                ..................                      73,334           50,228           50,170            52,770               53,637
      ........................                         287,334          734,514          900,612       1,306,895               1,341,040


(1)     2009     6   30
      621.3                     2009       6    30
                 75%
        2009     8 31
                 75%
                                               2006     12   31                   287.3                         2009       6     30
        1,306.9

                             2006      12       31
                             2007      12       31

                             2008      12       31                                                                     3
                                                 2                                                 2

                             2009      6       30

        2006             2007    2008 12 31    2009 6 30
                            5.9% 10.4% 3.6% 10.4% 2.5% 10.4%                                1.7%       10.4%



                                                                  169
          2009     8    31
1,341.0                                                                  678.1               2009         8         31
            397.3



                                                              12    31                            2009                        2009
                                               2006            2007               2008           6       30                  8    31



                .............                   157,334        316,754            500,262          560,115                       695,298
                .............                    75,000        120,410            226,590          333,140                       241,121
                .............                     5,000        247,350            173,760          408,640                       399,621
       ......................                    50,000         50,000                               5,000                         5,000
     ........................                   287,334        734,514            900,612        1,306,895                   1,341,040


                                                                                          2006        6        23




                                                               12     31                             2009                        2009
                                               2006            2007               2008            6       30                 8    31


                 ..................              81,306
                          .........             142,675        161,668            141,224            156,500                     157,027


                              20.2                      2.0                                      2006           6        23
                             Proper Sonic Finance Limited                  20.2                                                        6.0
                                   2006 12 29
                                     2.0                                           2006      6    23
                                                                                  2,000                                                 14.0



                        C         22    23




                                                              12    31                            2009                        2009
                                               2006            2007               2008           6       30                  8    31


                        .............               37,652     154,530             227,422            231,546                    250,343




                 2006         2008           2009
                                     2007                                                            1                   2

                                                             170
                         1                                           1
         2                                2008
                                                         2
3                             2009                                                        3
                                     1




               2006   2007     2008      12   31                          2009   6   30


                                                                    3.3




       2005
                        3.2                   25
2009    8     31                                             33.9




                                     C        29




                                                   171
                 2006           2007         2008    12   31              2009 6 30
                                                                 97%      87% 74% 79%




                                                                                           1   5




                                                                           2009   7   31
                                                                          178.9


                               2009    6     30
                                                               2009   7   31



                                                                  2009 7 31
                                                    ..................................         178.9
                2009 6 30
             ...........................................................                       118.1
                       ...................................................                      17.1
                (1)
                    ......................................................                       5.3
      2009  6 30                           ........................................            140.5
          2009 6         30      2009       7 31              .....................              0.5
      2009 7 31                            ........................................            140.0

                ........................................................                        38.9



(1)           2009   7    31               8.0




                                                           172
                    2007        9    25                     2009     6   30
2009    6     30                                                                 756.7

       2009        12     31


               (1)(2)
                        .................                       450                        511
                                    (3)
                                        ...                       0.26                       0.30



(1)                      2009   12   31
(2)         2009    12     31
                                          2009   6   30                                             2009   12   31

                                                                                                C          1
(3)                                                  2009 12 31
                                                         2009 1 1                                        1,809,232,500
                                                                                                       (a)
                                                                   (b)
(4)                                                                           0.8811     1.00




                                                          173
                                                 2009         6         30

                                                       2009
                                                   6     30




                                                                  (1)                (2)                                (3)                   (3)


                      6.03                ....     1,358,173                 1,634,441         2,992,614            1.65                 1.87
                      7.91                ....     1,358,173                 2,173,674         3,531,847            1.95                 2.21



(1)         2009     6     30
                          1,365,616,000                                                              9,924,000                         2009         6
            30                               2,481,000

(2)                                                                                                                                         6.03
                   7.91                            (a)
            (b)                                                                                                               0.8811        1.00

(3)                                                                                                                1,809,232,500


                                                                                                                                   0.8811
       1.00
(4)                         2009 7 31
                          2009 6 30                                                                              2009   12    31

(5)                                                                                2009    6   30




                                                          13.13                13.19




                                                                                                                                         20%
      30%




                                                                             174
       2008   12   31
79.9                    2008   4




                                         12




                                         2009   6   30




                                   175
          6.97
                                       2,161



1,401.0                          65%
                       12
                            12



543.9                            25%



216.1                            10%




                 176
                45,231,000
407,079,000




    (a)

          (i)



                177
(ii)




(iii)




(iv)




(v) (A)

          (B)




(vi)


(vii)


(viii)

(ix)




(x)


(xi)




                178
      (xii)




      (A)


      (B)




      (C)


(b)

      (i)




      (ii)


      (iii)


      (iv)


      (v)


      (vi)


      (vii)




      (viii)




               179
            10.08




                          (A)
(B)           (C)



      (i)




                    180
(ii)




(iii)




              10.07(1)



(i)



(ii)



        30%



              12

(i)



(ii)




                         181
                   (A)          (B)          (C)




      Winford Global

       Winford Global




                           30
                                67,846,500
15%




                         182
                                     2.75%



                      2.75%




        1.25%



                      204     6.97




3A.07




                183
                             30

                                                     571
(i)                                                             (ii)
                                                        (iii)
        (i)    (ii)                                  (iv)
                              (v)                                                   (vi)
      (ii)    (iii)   (iv)    (v)
                                     67,846,500
15%




                                                                                        30
                              2009   10   29




                                                                       67,846,500




                                               184
67,846,500




             185
   (i)                                       45,231,000



   (ii)         S
                         144A
                                            407,079,000
                    294,001,500                  113,077,500




                         45,231,000
10%
  2.5%    (i)             (ii)




                                                               5




                                      186
                                                                     5




                                                                                22,615,500




      (i)                (ii)
                                                                                       (i)15
                  50     (ii)50                 100     (iii)100

                              (i) 135,693,000                      (ii) 180,924,000
                (iii) 226,155,000
30%     40%   50%




                                                                     7.91

                                                      7.91




                                                187
                            294,001,500
113,077,500                                            90%




              30
                                          67,846,500
                      15%

              3.75%




                            188
                             30



                                                  571
(i)                                                          (ii)
                                                (iii)
         (i)   (ii)                          (iv)
                      (v)                                            (vi)
(ii)   (iii)   (iv)   (v)
                              67,846,500                                    15%




                                                                    30
               2009     10    29




                                           2009   10    29
                                   30




                                           189
                       67,846,500
15%




                                          67,846,500




      10.07(3)                      10.07(1)(a)




                 (a)                         (b)




                 190
                                        2009   9   30
        2009   10    5




                           7.91                         6.03




        10%




                              2,161                            6.97
                    6.03     7.91
                           1,855                           6.03
2,467                                  7.91




                                      191
                     2009   10         7




         (i)




         (ii)

         (iii)



                                                        2009     10
                 8

                                                               2009
10   5




         155

                                 (i)             (ii)




                                           192
                                  2009   10   8




                2009   10   8
2009   10   8




                                193
1.


     eIPO                                        eIPO


                                                               eIPO
 www.eipo.com.hk

2.




            18




                          S




                      eIPO     www.eipo.com.hk




                                     eIPO    www.eipo.com.hk
                   eIPO

                              eIPO




                                      194
3.




     2009   9   24                2009        9     29




                                      2                           68
                                               1                        46
                                 88                          18
                                 88                          34




                                          1    3
                                              71
                     409                             409–415
                                                     G1006

                                                                       G8B
                                                   55
                                                   608
                                                         4–4A

                                                   201–207
                                                   18–24
                                                   61
                                                      101




                           195
                                                  4–4A
                                                    16–18
                                             16
                                             77
                                         12–16
                                           284

              68                                  66–70
                                   B1
                                                  31                     A

                                                  P9–12

                                                                  G047–G052
                                                          30–33

                                   G37–40

      2009    9    24             2009   9    29



             199        2




(a)




                            196
(b)




(c)



(d)




(i)


(ii)


(iii)



(iv)



(v)




        (i)


               (a)


        (ii)

               (a)


               (b)



                     197
          (iii)

                  (a)


                  (b)

          (iv)

                  (a)


                  (b)




4.                eIPO



(a)
          www.eipo.com.hk                eIPO                                eIPO


(b)                eIPO                                          www.eipo.com.hk
                                                                               eIPO


(c)                                                         eIPO
            eIPO
      www.eipo.com.hk


(d)                      eIPO        www.eipo.com.hk             eIPO
                                          eIPO


(e)                        eIPO              500                                500

          www.eipo.com.hk

(f)               2009    9     24                        2009    9   29

                  www.eipo.com.hk                  eIPO



                                                   198
                                                                                  2009    9     29




(g)                                                                              www.eipo.com.hk
                    eIPO



         2009       9   29
                                                                        eIPO
                                                               www.eipo.com.hk



(h)                          eIPO      www.eipo.com.hk
      eIPO
                                                                   eIPO     (www.eipo.com.hk)




             eIPO
                                     eIPO                           www.eipo.com.hk
                              eIPO




             eIPO        www.eipo.com.hk
                                                        eIPO                www.eipo.com.hk




                                                          www.eipo.com.hk                eIPO
        eIPO



                                           eIPO                                     eIPO
                                                                     www.eipo.com.hk
        eIPO




                                                  199
5.




                                     +852 2979 7888
            (https://ip.ccass.com)




                    199




     (i)


     (ii)




              200
      40




201
500         500




      202
            40



                                                     40
                                342E




                                               (i)        (ii)
     eIPO        (iii)   2009   9   29




6.




                                         203
                            eIPO        www.eipo.com.hk                eIPO




       eIPO     www.eipo.com.hk                  eIPO




                                                    eIPO        www.eipo.com.hk
               eIPO



                                             eIPO         www.eipo.com.hk
        eIPO


                     22,615,500
               50%




                                                                   eIPO
eIPO




                                  204
7.

                               7.91                             1%          0.004%
     0.005%                                                      500            3,994.91
                                                                                       22,615,500




8.

                                                                                         1%
       0.004%                    0.005%




     1%              0.004%                      0.005%

                                          7.91
                1%            0.004%                          0.005%




                                           2009     10    7



9.

                                                         2009    9     29




                                             205
          2009   9   24
          2009   9   25
          2009   9   26
          2009   9   28
          2009   9   29

                     2009    9   29



2009       10    6

          eIPO

                     2009    9   24                             2009   9       29

          www.eipo.com.hk                eIPO
                                                                       2009         9   29



                            www.eipo.com.hk            eIPO




          2009   9   24                                                             1
          2009   9   25                                                             1
          2009   9   26                                                    1
          2009   9   28                                                             1
          2009   9   29                                                        1




1.

                                                2009   9   24                                2009   9
     29



                                                 206
                                                                       2009   9   29




10.

            2009     9    29




11.

                           2009       10   7

                                                    2009 10 7
 www.hkexnews.hk                                www.yingdegas.com




      (a)          2009    10     7                                 2009 10 13
                                                                       www.iporesults.com.hk




      (b)
            2009 10 7                          2009   10   10
              2862 8669

      (c)          2009    10   7                 2009     10   9




12.




                                                                                               2009 10
                     7                                                                           eIPO


                                                       207
www.eipo.com.hk              eIPO


                                                      2009   10   7




                  40                          342E

                   2009 10      7
                     eIPO           www.eipo.com.hk                    eIPO




                                       eIPO          www.eipo.com.hk
     eIPO




                                                 eIPO




                                         eIPO




                       208
                   eIPO




      50%

13.


      7.91




             209
(a)                                eIPO

      (i)

      (ii)

(b)

                                             (i)
                                                    (ii)
             (iii)

                1%               0.004%                       0.005%




                                                            2009   10   7




                                 2009     10        8



(a)

                     1,000,000

                                   2009        10       7



                      183               17     1712-1716




                                          210
                        1,000,000                                         1,000,000


      2009    10   7


(b)

                   1,000,000




                                                            2009     10    7




                               2009   10    7

                                                     2009   10   7




(c)                    eIPO

                        eIPO             1,000,000
                                      2009 10 7


             183           17     1712–1716


                                           211
                             eIPO


                        1,000,000                                             2009   10    7
                                                            www.eipo.com.hk
      eIPO

                        eIPO           www.eipo.com.hk

                                                         2009   10   7


                        eIPO           www.eipo.com.hk

                                                         2009   10   7
                                           eIPO


                                                                                  eIPO
                                                                                eIPO


(d)




                 2009   10    7




                        2009      10   7




                                                                                 2009     10
             7


                                           212
                                                            2009
               10   7




                                               1%         0.004%
                             0.005%         2009 10   7




14.

             2009   10   8                  500
      2168

15.




                                      213
                                                                      2006     2007    2008    12
31                     2009         6    30
                                                   2006        2007    2008   12 31     2009   6
30                                                                            2009 9   24



       2007       9        25                             22                   1961

                  2009          7   10
                                               A




                                    Ace Turbo Group Limited      Ace Turbo




     2009     6       30




                                                   I-1
                    2006
     2007             2008
     12 31

                    2006
     2007             2008
     12 31

     2006                2007
     12 31

                         2008
     12        31

                    2006
     2007             2008
     12 31

     2006                2007
     12 31

                         2008
     12        31

                    2006
     2007             2008
     12 31

                    2006
     2007             2008
     12 31

      2006           4     12
                         2006
12        31
                         2007
     12        31

                         2008
     12        31

     2006           10     30
                         2006
12     31
     2007                2008
     12 31




          I-2
          2006           11 8
                          2006
    12     31
         2007                2008
         12 31

          2006           12 4
                          2006
    12     31
         2007                2008
         12 31

          2007           1     26
                             2007
         12        31

                             2008
         12        31

          2007           1     30
                             2007
    12        31
                             2008
         12        31

          2007           3     22
                             2007
    12        31
                             2008
         12        31

              2007           9 4
                             2007
         12        31

                             2008
         12        31

         2008           10     15
                             2008
         12        31




A                                   C




              I-3
             3.340




                       2009   6   30




               A                           C        1

         2006  2007         2008 12 31   2009   6   30
2007   2008 12 31          2009 6 30




                     I-4
                                                                                         2410

                        2008       6   30




A

                                            2007     9 25
                                                   Trevor Raymond Strutt
                     2009     3    6                                31
                                                                                  2001   12     18
                            2006   8   18      2006     8    23

                2009    7     10




                                                                           2006   2007        2008   12
    31   2009    6     30




                                                       I-5
                     2006    14,700        100%
                     4 18

Ace Turbo            2008    1                    100%
                     7 1

                     2007    10,000               100%
                     6 20

            (i)      2001                         100%
                     10 29   246,000,000

            (i)      2003                         100%
                     4 8     140,000,000

            (i)      2003                         100%
                     4 15    44,000,000

            (i)      2003    2,100,000            100%
                     6 11

            (i)      2003                         100%
                     6 24    62,000,000

            (i)      2004                         100%
                     9 17    60,000,000

              (ii)   2004    10,000,000           75%
                     12 31

                     2006    11,499,970           100%
                     4 12

                     2006                         100%
                     10 30   219,400,000

                     2006    7,964,258            100%
                     11 8

                     2006                         100%
                     12 4    81,600,000

                     2007                         100%
                     1 26    64,000,000



                                 I-6
                                           2007               10,049,964                    100%
                                           1 30


                                           2007               8,000,000                     100%
                                           3 22


                             (iii)         2007               20,000,000                    100%
                                           9 4


                                           2008                                             100%
                                           10 15              5,000,000


                                           2008                                             70%
                                           12 23              120,000,000




(i)     2006       2                                    48%
                                                                                                                       2006
        2                                                             4%
                   48%               52%     2006   6                                                        48%
                                                                                                                         2006
            1          6

        2006 2                                                                                               60%       60%
        73% 59%             60%                         36%   36%   19%        36%    36%

                                                                2006       2     6
                                                                                                           2006    1      6




(ii)        2006       5                                                       75%
                                       25%

(iii)       2006       11       10                                                                            25
                                                                                                               25%       49%

                            250,000,000                                         25%                28(c)

(iv)        2009       9    3




                                                                I-7
B

1

                       C                  12    31                             6   30
                              2006             2007        2008         2008                2009




    ................   2       485,054          783,717    1,411,713     619,960             917,163
        ............          (256,566)        (464,166)    (828,156)   (351,722)           (586,072)
    ................          228,488           319,551     583,557     268,238             331,091
        ............   3        1,037               987       1,352         499                 208
        ............           (8,909)           (9,933)    (15,088)     (7,727)             (7,834)
        ............          (40,718)          (58,603)    (79,946)    (25,739)            (45,448)
        ............           179,898          252,002     489,875     235,271             278,017
        ............   4(a)      5,307           27,899      36,469      12,979               2,771
        ............   4(a)   (161,201)         (95,963)    (58,492)    (26,563)            (44,030)
          ..........   4        24,004          183,938     467,852     221,687             236,758
      ..............   5                         (8,055)    (39,192)    (21,489)             (4,234)


               .....            24,004          175,883     428,660     200,198             232,524


                 ...            (6,729)         177,049     430,133     200,721             232,487
             .......            30,733           (1,166)     (1,473)       (523)                 37


               .....            24,004          175,883     428,660     200,198             232,524


             .......   7
       .............            (0.005)           0.120        0.293       0.137               0.158
       .............            (0.005)           0.120        0.279       0.133               0.158




                                                                                        6

                                          I-8
2
                                                   C                        12   31                  6 30
                                                              2006           2007        2008         2009



                       ........                    10             611,025   1,123,091    1,751,968   2,176,570
        .......................                    11              14,948     291,874      488,655     391,293
             ..................                    12              13,595      17,532       17,245      17,064
        .......................                    13              11,256      10,667       10,199       9,924
               ................                    14                           5,036       13,053      12,855
               ................                    15              78,936      90,175      131,809      76,489
             ..................                   5(d)                                       2,680       2,680
               ................                                   729,760   1,538,375    2,415,609   2,686,875

    ...........................                                     1,463      5,013        9,646       6,775
                       ........                    16              82,089    167,786      126,676     284,463
               ................                    14                            928        1,872       1,872
             ..................                   5(c)              4,101      8,973          130      10,278
               ................                    17              37,652    154,530      227,422     231,546
                 ..............                    18             119,347    169,562       28,463     232,824
             ..................                                   244,652    506,792      394,209     767,758

                    ................                 19           157,334    316,754      500,262     560,115
                                    ........         20           117,031    317,092      572,710     515,064
                ..................                   21             2,963      2,963        2,963       3,077
          .....................                      22            81,306
                            ............             23           142,675    161,668      141,224     156,500
        .......................                                    26,930
          . . . . . . . . . . . . . . . . . . . . . 5(c)                         2,859      7,057      12,230
                . . . . . . . . . . . . . . . . . . 27(b)           1,777
                ..................                                530,016    801,336     1,224,216   1,246,986
                ..................                            (285,364)      (294,544)   (830,007)   (479,228)
                          ............                            444,396   1,243,831    1,585,602   2,207,647

                  ................                 19             130,000    417,760      400,350     746,780
                ..................                 21              30,477     29,952       29,385      30,515
                ..................                5(d)                                     10,991      16,952
                  ................                                160,477    447,712      440,726     794,247
        .......................                                   283,919    796,119     1,144,876   1,413,400

    ...........................                    25
    ...........................                    26             269,533    782,899     1,133,129   1,365,616
                             ..                                   269,533    782,899     1,133,129   1,365,616
             ..................                                    14,386     13,220        11,747      47,784
        .......................                                   283,919    796,119     1,144,876   1,413,400




                                                            I-9
       3

                                                        C

                                                                    25   26(a)     26(b)       26(c)
           2006   1    1 ......................                           24,896   150,364      18,249     193,509    153,685      347,194
                            ...................                                                 (6,729)     (6,729)    30,733       24,004
             ................................               26(a)        14,636                (14,636)
             ................................               26(b)                   14,790                  14,790     (14,767)         23
                        .......................                                                                         15,761      15,761
                            ...................             26(b)                  (100,858)              (100,858)   (171,026)   (271,884)
             20,200,000              ..........             22(a)                    49,760                 49,760                  49,760
                                        .......             23                      106,544                106,544                 106,544
                                      .........             24                       12,517                 12,517                  12,517
           2006   12       31    ....................                    39,532    233,117      (3,116)    269,533     14,386      283,919
           2007   1    1......................                           39,532    233,117      (3,116)    269,533     14,386      283,919
                           ...................                                                 177,049     177,049     (1,166)     175,883
             ................................               26(b)                  290,399                 290,399                 290,399
             2,000,000             ...........              22(b)                   36,397                  36,397                  36,397
                                     .........              24                       1,259                   1,259                   1,259




I-10
                    ..........................              24                       8,262                   8,262                   8,262
           2007   12       31    ....................                    39,532    569,434     173,933     782,899     13,220      796,119
           2008   1    1     ......................                      39,532    569,434     173,933     782,899     13,220      796,119
                                ...................                                            430,133     430,133     (1,473)     428,660
                            .......................          6                                 (79,903)    (79,903)                (79,903)
           2008   12       31    ....................                    39,532    569,434     524,163    1,133,129    11,747     1,144,876
           2009   1    1
                       ......................                            39,532    569,434     524,163    1,133,129    11,747     1,144,876
                          ...................                                                  232,487      232,487        37       232,524
             ................................                                                                          36,000        36,000
           2009   6    30       .....................                    39,532    569,434     756,650    1,365,616    47,784     1,413,400


           2008   1    1     ......................                      39,532    569,434     173,933     782,899     13,220      796,119
                                ...................                                            200,721     200,721       (523)     200,198
                            .......................          6                                 (79,903)    (79,903)                (79,903)
           2008   6    30       .....................                    39,532    569,434     294,751     903,717     12,697      916,414
4

                           C                   12     31                            6    30
                                   2006             2007         2008        2008             2009




          ..........                 24,004         183,938      467,852     221,687          236,758

    ................                32,088             48,601      75,903      33,117           52,983
    ................                   924              1,065         994         480              512
        ............                (5,307)           (27,899)    (36,469)    (12,979)          (2,771)
        ............               161,201             95,963      58,492      26,563           44,030

          ..........                  6,187            7,589


              .......                                    21          104                          (10)
                                   219,097          309,278      566,876     268,868          331,502
                    ...                468           (3,550)      (4,633)        495            2,871


               ......               (32,189)          (64,863)     22,622      38,232         (110,985)


                 .....              11,256           26,701        7,581      (8,132)          (4,308)
                                   198,632          267,566      592,446     299,463          219,080
        ............                   268            2,350        5,291       1,993            1,798
        ............               (12,617)         (45,345)     (66,096)    (27,907)         (31,817)
          ..........                (4,101)         (15,266)     (29,589)    (12,337)          (9,183)
          ..........                                  5,198       11,749       3,334            5,935

          ..........               182,182          214,503      513,801     264,546          185,813

        ............                (91,291)        (698,165)    (670,023)   (361,416)        (382,015)

          ..........                (37,652)        (116,878)     (72,892)     (9,966)          (4,124)

              .......      26(b)   (271,884)


           (b) . . . . .            (16,041)

                 .....                                                                               177

        ............                                                1,904               907          994

          ..........               (416,868)        (815,043)    (741,011)   (370,475)        (384,968)




                                               I-11
                            C                      12     31                                6    30
                                    2006                2007           2008          2008              2009




                   .....            226,000             644,000        580,700       248,500           773,200

             ..........             (131,000)           (194,050)      (414,690)     (153,050)         (369,610)
20,200,000
                 .....      22(a)   161,653
     20,200,000
            ..........      22(a)    (50,239)             (65,606)
2,000,000
                 .....      22(b)     15,617

                     ...     23     112,036
                   .....                                   83,617         1,415         1,415
                     ...                                  (13,174)

       ..............                                     (75,652)       (1,400)       (1,400)

       ..............       26(b)           23          290,399

             ..........      24                             2,141
                (c) . . .                                 (20,176)      (79,903)      (79,903)


             ..........             334,090             651,499          86,122        15,562          403,590



       ..............                 99,404              50,959       (141,088)      (90,367)         204,435

                .......               20,095            119,347        169,562       169,562             28,463

       ..............                      (152)               (744)          (11)              (77)          (74)


                .......      18     119,347             169,562          28,463        79,118          232,824




                                                   I-12
(a)
                                      C                        12     31                                       6    30
                                                    2006            2007             2008               2008             2009




           ..............              i              14,985
        20,200,000
               ..........             ii              49,760
        2,000,000
               ..........             iii                             36,397
                   .......            iv                               6,121
                   .......             v                                                                                   36,000

(i)          2004    3                                                                                                          18%
                                                                                                                         2006
                                                                                            2006        12         31
                                                                   14,985,000
                 5,364,000                                 9,621,000
(ii)         2006 12 29           20,200,000                                     C
                        502                                22(a)
(iii)        2007 6 29           2,000,000                                                                         102
                 22(b)
(iv)         2007 11 11                                            6,121,000
                                            24(a)    (b)
(v)       2009 3
        36,000,000
(b)
             2006     5                                                    75%



                             .........................................                                                        559
        ..............................................................                                                         11
                 .....................................................                                                     18,487
            ..........................................................                                                     12,173
                     .................................................                                                        237
            ..........................................................                                                        949
                 .....................................................                                                         16
                           ...........................................                                                        (71)
                 .....................................................                                                    (15,761)
            ..........................................................                                                     16,600
                                 .....................................                                                       (559)
                       ...............................................                                                     16,041
(c)
                    2007   12    31                                          20,176,000
      2005
                    79,903,000                                                          2008       12        31



                                                               I-13
C

1

(a)




                                                      C      1




                         31




(b)


           A

(c)

                                                                      1(h)



(d)

           2006   2007        2008   12   31          2009   6   30
                                                                      2010
12    31



(e)




                                               I-14
                   30

(f)




      1(p)   (r)

(g)



                        1(l)

(h)




(i)

                               1(l)




                        I-15
                1(l)
                                            1(y)




             ..........................................................   15–20
                    ...................................................   10–20
                                .......................................       5




(j)



1(l)                                        5      20

(k)




       (i)




                                            I-16
      (ii)




              1(i)          1(l)




      (iii)




      (iv)




      (v)


                     1(l)

(l)

      (i)




                            I-17
(ii)




       I-18
(m)




(n)



      1(l)



(o)

      (i)




             I-19
      (ii)




                    1(h)




             1(h)




(p)




                           I-20
(q)




             1(h)    (p)


(r)

                           1(v)(i)




(s)




(t)

      (i)




      (ii)




                    I-21
(u)




      I-22
(v)

      (i)




             (i)                     (ii)

                          1(v)(ii)

      (ii)




(w)




                   I-23
       (i)




       (ii)



(x)




(y)




(z)



              (i)


              (ii)

              (iii)



              (iv)    (i)


              (v)




(aa)




                            I-24
2




          2006      12    31
10%                            106,141,000                      89,809,000              88,190,000
      67,601,000

          2007      12    31
10%                            118,717,000                      105,204,000              103,276,000
      102,407,000              82,397,000

          2008      12    31
10%                            303,640,000                      209,773,000                      144,529,000

          2009      6    30
10%                            222,662,000                      110,694,000                      106,225,000

         2008 6          30
           10%                                132,432,000                        109,779,000
63,633,000

                                              29(a)

3

                                                    12    31                                 6    30
                                    2006                 2007          2008           2008             2009



            ..................         1,037                    987          1,346               499
      ........................                                                   6                             208
                                       1,037                    987          1,352               499           208


                                             2003


                                                I-25
4



(a)

                                                                12     31                              6    30
                                                   2006              2007           2008        2008             2009



             ....................                         268           2,350          5,291       2,701            1,798

                      ...............                                                  1,555               742          796
      2,000,000
                          22(b) . . . . . . .                          12,478

                         23 . . . . .                                                 21,301       1,724
             ....................                     5,039            13,071          8,322       7,812                177
             ....................                     5,307            27,899         36,469      12,979            2,771
                                 .........          (12,509)           (42,575)      (66,184)    (30,454)         (34,510)
                                     .....           (2,318)            (2,675)       (2,633)     (1,317)          (1,244)
20,200,000
                              22(a) . . . . .        (3,424)                (489)
2,000,000
                              22(b) . . . . .                               (314)

                              23 . . . . . . .       (7,766)            (9,752)       (9,148)     (4,555)          (4,373)
                      ...............               (26,017)           (55,805)      (77,965)    (36,326)         (40,127)
                            .........                    36             12,843        22,200      10,632            7,213
                                                    (25,981)           (42,962)      (55,765)    (25,694)         (32,914)
20,200,000

        22(a)         ...............                (2,493)
2,000,000

           22(b)      ...............                                  (33,327)


          23 . . . . . . . . . . . . . . . . . .    (76,406)           (17,483)                                   (10,953)
      20,200,000
                        22(a) . . . . . . .          (1,117)

                      23 . . . . . . .              (55,041)
             ....................                      (163)            (2,191)       (2,727)          (869)            (163)
             ....................                  (161,201)           (95,963)      (58,492)    (26,563)         (44,030)
                                                   (155,894)           (68,064)      (22,023)    (13,584)         (41,259)




                                                                I-26
                                                              12     31                             6    30
                                                 2006              2007         2008         2008             2009


                           ...........              6.3% 6.3%–8.4% 5.7%–8.5% 7.5%–8.4% 5.4%–7.9%

(b)
                                                              12     31                             6    30
                                                 2006              2007         2008         2008             2009




        ......................                     13,393            29,927       48,162       20,834           34,310
                           ...                        313             1,334        2,794        1,081            1,474

                        24 . . . . . . . . .        6,187             7,589
                                                   19,893            38,850       50,956       21,915           35,784

                                                        8



10%    22%


(c)
                                                              12     31                             6    30
                                                 2006              2007         2008         2008             2009



      ........................                   213,771           371,900      718,419      304,926          513,045
      ........................                    32,088            48,601       75,903       33,117           52,983

                        ...........                       7               433          352              162          181
                    ...............                     917               632          642              318          331

                   ...............                    966                  93          108               66           79
                     .............                    640
                (i) . . . . . . . . . . . . .       4,614             5,666        1,540                232          119

                               (ii)    ....         2,915             2,241        4,452        2,179            2,243

                                 .......                                 21          104                             (10)
                 28(d) . . . . . . . . . . .          117             4,401        3,500        1,162                468
             (iii) . . . . . . . . . . . . . .      1,405             1,252          111           81


               ..................                                                 10,721
                      ...........                                                  2,395
                          (iv) . .                  1,800                 700     (2,020)      (2,020)




                                                              I-27
(i)
(ii)
(iii)     2006                                        2006    3
                                 1,400,000                        2006     6
          2007
                  1,100,000
(iv)
                                                                      2006              2007   12    31
                    1,800,000                  700,000
                                                                       2008         6
        480,000                                                                           2,020,000              2008      12   31


5
(a)
                                                                      12       31                                     6   30
                                                         2006              2007                 2008           2008             2009




                                           .....                                8,055                30,881      16,356              (1,727)

                                 ...........                                                          8,311       5,133               5,961
                                                                                8,055                39,192      21,489               4,234

(b)
                                                                      12       31                                     6   30
                                                         2006              2007                 2008           2008             2009



                   ..................                        24,004        183,938                  467,852    221,687           236,758
       33%/25%

            (iii) . . . . . . . . . . . . . . . . .           7,921            60,699               116,963      55,422              59,190
                                          .....               2,332             4,621                 4,672       1,989               5,384

            (i)     (ii)      (iii) . . . . . . . .           9,697          (34,806)               (93,434)    (41,055)         (47,807)

            (iv) . . . . . . . . . . . . . . . . .        (19,950)           (22,459)                                            (18,494)

                        (v) . . . . . . . . . . .                                                    10,991       5,133               5,961
                          .............                                         8,055                39,192      21,489               4,234

(i)

(ii)




                                                                      I-28
(iii)        2008       1       1                                                      33%                                        30%               3%
                                                                                                                          15%
                                                                                                         24%

                                                                                                                                                     2+3


           2008     1       1

                                                                                                                         2+3


                                                                                       2+3
                        ......................                      33%                2003         –2007                                    15%
                        ......................                      15%                2005         –2009                                   7.5%
                        ......................                      33%                2004         –2008                                    15%
                        ......................                      24%                2007         –2011                                    12%
                        ......................                      33%                2004         –2008                                    15%
                        ......................                      24%                2006         –2010                                    12%

                                                                                                               2+3

             2007       3       16                                                                            2008 1 1
                                                                                                                33%     25%
                                               2007   12     2008    2                                           2007 3 16
                                    2+3                                  2+3                                                          2+3
           2008     1       1                               2+3                   2008          1    1

             2008       1       1                                                                         25%
                                                                                                      2+3
                                                                                                    2008 1 1             2+3

(iv)         2007       12          31
                                                                  2006          2007       12    31
           19,950,000                          22,459,000                                       2008      5                [2008]52             2008
           1 1                                                      2009    6     30
                                2007      12   31                                                        18,494,000

(v)                                                                      2008    1     1
                    10%                                                                                                  2008     1     1


(c)
                                                                                                         12    31                           6 30
                                                                                  2006                    2007           2008                2009


      1     1      ...............................                                                             (4,101)     (6,114)             6,927
                                                        .....                                                   8,055      30,881             (1,727)
                          ........................                                     (4,101)                (15,266)    (29,589)            (9,183)
                          ........................                                                              5,198      11,749              5,935
      12        31     6 30 . . . . . . . . . . . . . . . . . . .                      (4,101)                 (6,114)      6,927              1,952


                           ..........................                                  (4,101)                 (8,973)          (130)        (10,278)
                        .............................                                                           2,859          7,057          12,230
                                                                                       (4,101)                 (6,114)         6,927           1,952




                                                                               I-29
(d)

      (i)




  2006       1      1 ......................
                   ..........................
  2006       12        31     ....................
  2007       1      1 ......................
                   ..........................
  2007       12        31     ....................
  2008       1     1        ......................
                                 .................                   (2,680)             10,991               8,311
  2008       12        31     ....................                   (2,680)             10,991               8,311
  2009       1      1 ......................                         (2,680)             10,991               8,311
                   ..........................                                             5,961               5,961
  2009       6     30        .....................                   (2,680)             16,952              14,272


      (ii)

                                                                               12   31                     6 30
                                                              2006              2007        2008            2009



                   .............................                                                  2,680       2,680

                   .............................                                             (10,991)        (16,952)
                                                                                              (8,311)        (14,272)



  2008       1     1

(e)

            2008     12 31          2009    6    30
                   2008 1 1                                                                               373,284,000
                   561,254,000            2008   12   31          2009 6 30
                                                                   37,328,000               56,125,000



            2006            2007   2008     12   31        2009     6   30



                                                            I-30
6
                                                                                            2008        12     31

                                                                 12     31                                          6   30
                                                   2006               2007            2008                   2008            2009



                                .........                                                  79,903              79,903




7
                                                          2006          2007         2008        12     31
2009         6   30
                  1,270,000,000
                  2006      2007     12       31                             2009    6     30


                         2006      2007       12     31                             2009     6     30



       (i)
                                                                 12     31                                          6   30
                                                   2006               2007            2008                   2008            2009




                                          .          (6,729)          177,049            430,133             200,721         232,487


                            ...........                   916           (24,088)         (58,521)             (27,309)        (31,631)




                            ...........              (5,813)          152,961            371,612             173,412         200,856

                                      ...                                                  58,521              27,309


                                          .                                              (20,444)              (4,966)


                                  .......                                                409,689             195,755




                                                                 I-31
     (ii)
                                                   12     31                               6   30
                                      2006              2007            2008        2008            2009




                        ...........   1,270,000        1,270,000        1,270,000   1,270,000       1,270,000

                       ............                                      200,000     200,000

                        ...........                                     1,470,000   1,470,000

8


                                                           2006    12    31




Zhongguo Sun . . . . . . . .                  379                                                        379
      ..............                                                                       1,333       1,333
    ................                              70                                                      70

         ..............

      ................
        ..............
        ..............
      ................                        449                                          1,333       1,782

                                                           2007    12    31




Zhongguo Sun . . . . . . . .                  633               900                                    1,533
      ..............                          399                              19                        418
    ................                          109               500                                      609

         ..............

      ................
        ..............
        ..............
      ................                       1,141             1,400           19                      2,560



                                                   I-32
                                          2008     12    31




Zhongguo Sun . . . . . . . .   1,351                               1,351
      ..............             685                          22     707
    ................             492             500                 992

         ..............

      ................
        ..............
        ..............
      ................         2,528             500          22   3,050

                                          2009     6    30




Zhongguo Sun . . . . . . . .    600                                 600
      ..............            342                           15    357
    ................            246                                 246

         ..............

      ................
        ..............
        ..............
      ................         1,188                          15   1,203

                                   2008   6   30




Zhongguo Sun . . . . . . . .    600                                 600
      ..............            342                           11    353
    ................            123                                 123

         ..............

      ................
        ..............
        ..............
      ................         1,065                          11   1,076

                                   I-33
                                                                          9




9

            2006        2007   2008   12     31                     2008           2009        6       30

                          8

                                                   12     31                               6   30
                                      2006              2007       2008             2008                    2009




                          ...                632           3,524      3,425               1,742                2,197
     ........................                              1,670      2,580

              ..................             529           1,259
                     ...........              21              18              79                                   20
                                           1,182           6,471      6,084               1,742                2,217




                                                   12     31                               6   30
                                      2006              2007       2008             2008                    2009


            1,000,000

          882,000     ..........               2                                                                    1
1,000,000        1,500,000
           882,000
          1,323,000     ........               1               1               1                   3                3
1,500,000        2,500,000
           1,323,000
          2,205,000     ........                               3               3
                                               3               4               4                   3                4




                                                   I-34
10




 2006     1    1
              .........................                                 22,681     569,137      8,144       599,962
             ..........................                                                           237           237
    ...................................                                             41,081      2,773        43,854
               ........................                                             35,929                   35,929
 2006 12 31 . . . . . . . . . . . . . . . . . . . . . . .               22,681     646,147     11,154       679,982
 2007 1 1 . . . . . . . . . . . . . . . . . . . . . . . . .             22,681     646,147     11,154       679,982
    ...................................                                    105      32,425     10,607        43,137
               ........................                                 30,226     487,325                  517,551
    ...................................                                   (671)                   (88)         (759)
 2007 12 31 . . . . . . . . . . . . . . . . . . . . . . .               52,341    1,165,897    21,673     1,239,911
 2008 1 1 . . . . . . . . . . . . . . . . . . . . . . . . .             52,341    1,165,897    21,673     1,239,911
    ...................................                                     25       11,432     3,193        14,650
               ........................                                  8,181      682,352                 690,533
    ...................................                                                (438)      (95)         (533)
 2008 12 31 . . . . . . . . . . . . . . . . . . . . . . .               60,547    1,859,243    24,771     1,944,561
 2009 1 1 . . . . . . . . . . . . . . . . . . . . . . . . .             60,547    1,859,243    24,771     1,944,561
    ...................................                                              55,147    10,417        65,564
               ........................                                 65,708      346,480                 412,188
    ...................................                                                          (304)         (304)
 2009 6 30 . . . . . . . . . . . . . . . . . . . . . . . .          126,255       2,260,870    34,884     2,422,009

 2006     1 1 .........................                                 (1,528)     (33,377)    (1,964)     (36,869)
          ...............................                               (1,080)     (29,282)    (1,726)     (32,088)
 2006     12 31 . . . . . . . . . . . . . . . . . . . . . . .           (2,608)     (62,659)    (3,690)     (68,957)
 2007     1 1 .........................                                 (2,608)     (62,659)    (3,690)    (68,957)
          ...............................                               (2,411)     (43,061)    (3,129)    (48,601)
               ..........................                                  671                      67         738
 2007     12 31 . . . . . . . . . . . . . . . . . . . . . . .           (4,348)   (105,720)     (6,752)   (116,820)
 2008     1 1 .........................                                 (4,348)   (105,720)     (6,752)   (116,820)
          ...............................                               (2,174)    (69,658)     (4,071)    (75,903)
               ..........................                                               40          90         130
 2008     12 31 . . . . . . . . . . . . . . . . . . . . . . .           (6,522)   (175,338)    (10,733)   (192,593)
 2009     1 1 .........................                                 (6,522)   (175,338)    (10,733)   (192,593)
          ...............................                               (1,645)    (49,334)     (2,004)    (52,983)
               ..........................                                                          137         137
 2009     6 30 . . . . . . . . . . . . . . . . . . . . . . . .          (8,167)   (224,672)    (12,600)   (245,439)

 2006     12       31    .......................                        20,073     583,488      7,464      611,025
 2007     12       31    .......................                        47,993    1,060,177    14,921     1,123,091
 2008     12       31    .......................                        54,025    1,683,905    14,038     1,751,968
 2009     6    30       ........................                    118,088       2,036,198    22,284     2,176,570


                                                                 I-35
(a)

(b)     2006      2007             2008 12 31               2009 6 30
      283,780,000                  336,157,000                541,360,000                    617,981,000


(c)                                                                                              21
      25


                                                                           12    31                     6 30
                                                           2006               2007        2008           2009



                               ...................              31,725          30,103      28,480        27,669

(d)                                                          15 25
                                            15 25
        2006     2007            2008 12 31       2009 6 30
      10,924,000                  29,950,000          33,444,000                           44,425,000

(e)        2006       2007       2008   12   31          2009     6 30
                                                                  6,373,000               15,006,000
      11,439,000                     20,415,000


11

                                                                           12    31                     6 30
                                                           2006               2007        2008           2009

  1    1...............................                          27,274         14,948     291,874       488,655
             ..........................                             949
    ...................................                          22,654        800,441     896,624       314,826
                     ..................                         (35,929)      (517,551)   (690,533)     (412,188)
                   ....................                                         (5,964)     (9,310)
  12 31     6 30 . . . . . . . . . . . . . . . . . . .          14,948         291,874     488,655       391,293

12



                                                                           12    31                     6 30
                                                           2006               2007        2008           2009


                                         ..........             13,595          17,532      17,245        17,064




           2006       2007       2008   12 31       2009          6   30                                6,419,000
                  10,225,000             17,245,000                    3,308,000


                                                         I-36
13

                                                                                             12      31                                6 30
                                                                    2006                          2007               2008               2009



 1        1
       ...............................                                                              12,173              12,216               12,390
            ..........................                                    12,173
   ...................................                                                                  43                 174                   56
 12 31     6 30 . . . . . . . . . . . . . . . . . . .                     12,173                    12,216              12,390               12,446

 1        1      ...............................                                                      (917)             (1,549)              (2,191)
                        ........................                                 (917)                (632)               (642)                (331)
 12           31     6 30 . . . . . . . . . . . . . . . . . . .                  (917)              (1,549)             (2,191)              (2,522)

 12           31         6     30       ...................               11,256                    10,667              10,199                9,924


                                                                                                         20


14




                                                                           12 31                                                     6 30
                                                   2006                     2007                              2008                    2009




       ........................................                           928              996             1,872      1,988        1,872        1,988
                ...............................                            813              996            1,674      1,988        1,674        1,988
                ...............................                          1,884            2,988            4,041      5,964        4,041        5,964
       ........................................                          2,339            6,972            7,338     21,276        7,140       20,282
                                                                         5,036           10,956           13,053     29,228       12,855       28,234

     ..........................................                          5,964           11,952           14,925     31,216       14,727       30,222

                       .........................                                         (5,988)                     (16,291)                  (15,495)
                   .............................                                          5,964                      14,925                    14,727



15

                                                                                             12      31                                6 30
                                                                    2006                          2007               2008               2009


                          ..........................                      71,706                    87,175            128,634                68,214
                            ........................                         900                     3,000              3,175                 3,175
                                         24(c) . . . . .                   6,330
                          ..........................                                                                                          5,100
                                                                          78,936                    90,175            131,809                76,489



                                                                  I-37
16

                                                                               12   31                        6 30
                                                                 2006           2007           2008            2009


              ...............................                         67,471        92,406     108,665          165,418
              ...............................                            798        22,069       9,216           49,883
                   ..........................                                                  (10,721)         (10,721)
                                                                      68,269    114,475        107,160          204,580
                              ....................                    13,820     53,311         19,516           79,883
                                                                      82,089    167,786        126,676          284,463




(a)




                                                                               12   31                        6 30
                                                                 2006           2007           2008            2009


       ...................................                            68,269    114,475        107,160          157,949
                    ......................                                                                       31,446
                  ........................                                                                       15,185
           ...............................                                                                       46,631
                                                                      68,269    114,475        107,160          204,580


                                       30    45                                          180
                              29(a)

(b)


                                                                                                          1(l)(i)



                                                                               12   31                        6 30
                                                                 2006           2007           2008            2009


  1    1      ...............................                                                                       10,721
                     ........................                                                    10,721
  12       31     6 30 . . . . . . . . . . . . . . . . . . .                                     10,721             10,721


                2008 12         31
              10,721,000


                                                               I-38
(c)

                          16(b)                               10,721,000




17



18

                                                                    12   31                       6 30
                                                  2006               2007         2008             2009


                 ........................          119,347           169,562           28,463      232,824


              2006      2007      2008 12 31           2009      6 30
            119,246,000             158,152,000                  28,348,000                     229,358,000




                                                         12    31                                6 30
                                        2006              2007                 2008               2009


      ..........................           13              744                  131             34,210
      ..........................        4,799            5,518                    8                991


19

(a)

                                                                    12   31                       6 30
                                                  2006               2007         2008             2009


          ...............................           96,000           165,000          329,200      412,200
                     ....................           61,334           151,754          171,062      147,915
                                                   157,334           316,754          500,262      560,115
                      ....................         130,000           417,760          400,350      746,780
                                                   287,334           734,514          900,612    1,306,895




                                                I-39
                                                       12   31                                 6 30
                                     2006               2007                 2008               2009
        ......................      5.9%–7.0%          3.6%–7.5%            2.5%–9.7%          1.7%–7.9%
        ......................     6.1%–10.4%         6.3%–10.4%           5.7%–10.4%         5.4%–10.4%

(b)

                                                                 12   31                        6 30
                                               2006               2007          2008             2009


               ........................         157,334           316,754           500,262       560,115
               ........................          75,000           120,410           226,590       333,140
               ........................           5,000           247,350           173,760       408,640
      .................................          50,000            50,000                           5,000
                                                287,334           734,514           900,612     1,306,895

(c)

                                                                 12   31                        6 30
                                               2006               2007          2008             2009



         ..............................          67,000            87,000            22,000
         ..............................         147,000           597,286           828,442     1,254,125
                                                214,000           684,286           850,442     1,254,125

         ..............................          73,334            50,228            50,170        52,770
                                                287,334           734,514           900,612     1,306,895

(d)

                                                                 12   31                        6 30
                                               2006               2007          2008             2009


                    ......................      283,780           336,157           541,360      617,981
                ..........................        6,419            10,225            17,245        3,308
                                                290,199           346,382           558,605      621,289


        75%
(e)
      2006     12   31                38,000,000
                                                    2007    12        31
             2006   12   31
                                    10,000,000                                            2007     12   31




                                             I-40
20

                                                                                                    12     31                                6 30
                                                                            2006                        2007               2008               2009


                ...............................                                      562                    9,498             5,719               10,204
                ...............................                                   42,952                  120,000           150,123              105,259
                                 ..............                                   42,392                  151,878           369,792              361,318
                               ................                                   31,125                   35,716            47,076               38,283
                                                                             117,031                      317,092           572,710              515,064




                                                                                                    12     31                                6 30
                                                                            2006                        2007               2008               2009


                                         ..................                              269                1,533               4,851               9,675
                                           ................                              176                7,965                 728                 109
                                           ................                              117                                      140                 420
                                                                                         562                9,498               5,719              10,204


21



                                                                                   12 31                                                   6 30
                                                        2006                        2007                            2008                    2009




       ........................................      2,963      3,200            2,963          3,200            2,963      3,200        3,077        3,200
                ...............................      2,743      3,200         2,743             3,200            2,743      3,200        2,849        3,200
                ...............................      7,070      9,600         7,070             9,600            7,070      9,600        7,342        9,600
       ........................................     20,664     59,200        20,139            56,000           19,572     52,800       20,324       52,800
                                                    30,477     72,000        29,952            68,800           29,385     65,600       30,515       65,600

     ..........................................     33,440     75,200        32,915            72,000           32,348     68,800       33,592       68,800

                      .........................                (41,760)                        (39,085)                    (36,452)                  (35,208)
             ..................................                33,440                          32,915                      32,348                    33,592



22

                                                                                                    12     31                                6 30
                                                                            2006                        2007               2008               2009


20,200,000                                         a ..........                   65,689
2,000,000                                         b ...........                   15,617
                                                                                  81,306




                                                                          I-41
(a) 20,200,000



    2006 1 1 . . . . . . . . . . . . . . . . . . . . . .
      20,200,000                     ..........                        164,770                       (3,117)           161,653
                 .......................                                 3,424                                           3,424
                 .......................                                                               2,493             2,493
           ............................                                  (2,999)                                        (2,999)
           A ..........................                                 (50,239)                                       (50,239)
           C ..........................                                 (49,267)                          624          (48,643)
    2007 1 1 . . . . . . . . . . . . . . . . . . . . . .                 65,689                                         65,689
                 .......................                                    489                                            489
           ............................                                    (572)                                          (572)
           B ..........................                                 (65,606)                                       (65,606)
    2007 12 31


              2006 6               23                               Proper Sonic Finance Limited
    III         (7A)                                        20,200,000                           20,200,000
                                                  III    (7A)                                  2006 12 31
20,200,000                                     Proper Sonic Finance Limited                            III  (7A)
                       20,200,000

                                 6,200,000                             2006     8    31                   A
                                 8,000,000                             2007     2    28                   B
                                 6,000,000                             C

          20,200,000                                                                            3%
                                               20,200,000                                                              A
B                                                       C     2007     2   28                         A          B
          C                                      C
                            (i)                                         2006        12    31
                            (ii)

                   A         2006        8    31                                          C     2006      12    29
                                             502
2006          12       31

          20,200,000
                                                                     3,117,000
                            164,770,000


              2006          12      29             C                                                      48,643,000
                            C                                  502                                             49,760,000
                                                            1,117,000                    2006    12       31




                                                                I-42
      20,200,000




                                                                          2006   6   23              2006   12    29


                           .....................                       68,592,000                    176,726,000
      ..........................................                            6,658                         12,694
            ....................................                               27.14%                         23.50%
        ........................................                       2007 2 28                      2007 2 28
            ....................................                                0.00%                          0.00%
            ....................................                                5.27%                          5.00%

(b) 2,000,000




  2006 1 1          ......................
    2,000,000                  ...........                       15,299                      318                 15,617
  2007     1   1
               ......................                            15,299                      318                  15,617
              .......................                               314                                              314
              .......................                                                     33,327                  33,327
         ............................                               (383)                                           (383)
     ................................                            (15,230)                 (33,645)               (48,875)
  2007 12 31 . . . . . . . . . . . . . . . . . . . .


             2006      12     29                                                            III      (7A)
      2,000,000                          2,000,000                                                   III     (7A)
                                          2,000,000
  2,000,000
                       III         (7A)
                                    0.977475%
                                                                                                            20,200,000
                               C               22(a)                                                  23

                             2007    6    30



                                          2007 6 30                                                                    2007
  7    1                                 III   (7A)                          2,000,000
                                               III  (7A)

      2,000,000
                                                       318,000                                              15,299,000



                                                        I-43
         2007         6     29                                                                             2,000,000
                                                0.977475%                   0.7%
                      III        (7A)                  102                                 2,000,000
102                                            36,397,000                                        12,478,000
      2007       12       31

      2,000,000


                                                                                           2006
                                                                                      12     29                     2007
                                                                                       12     31                   6   29


                           .....................                                    176,726,000             656,556,000
      ..........................................                                         12,694                  46,857
            ....................................                                             23.50%                  24.90%
        ........................................                                     2007 6 30               2007 6 30
            ....................................                                              0.00%                   0.00%
            ....................................                                              5.00%                   4.90%

23




  2006       1    1.........................
                                  ................                         79,864           32,172                       112,036
                  ..........................                                7,766                                          7,766
                  ..........................                                                76,406                        76,406
             ...............................                            (2,030)                                           (2,030)
                                                    .......            (85,600)        (108,578)                        (194,178)
                                              ..........               122,627                            20,048         142,675
  2007       1 1 .........................                             122,627                            20,048         142,675
                  ..........................                             9,752                                             9,752
                  ..........................                                                              17,483          17,483
             ...............................                            (8,242)                                           (8,242)
  2008       1 1 .........................                             124,137                            37,531         161,668
                  ..........................                             9,148                                             9,148
                  ..........................                                                             (21,301)        (21,301)
             ...............................                            (8,291)                                           (8,291)
  2009       1 1 .........................                             124,994                            16,230         141,224
                  ..........................                             4,373                                             4,373
                  ..........................                                                              10,953          10,953
             ...............................                               (50)                                              (50)
  2009       6 30 . . . . . . . . . . . . . . . . . . . . . . . .      129,317                            27,183         156,500

         2006         6     23
                                                     14,000,000                                                             7,000
                                    III       (7)                                                  III   (7A)
                 2000



                                                                    I-44
                                                                 2010   12       31


                                           7,000




                                         2010   12   31

                                                                         2010          12     31   2012    12   31


                                                                                        (a)
                  (b)
  10%


                        32,172,000                                               79,864,000

         2006    12     31
                                                                  1                     7.999
                                                     III        (7)                                             III
  (7A)

                2006     12   31                                                                       55,041,000
                                                                              (a)
                20,048,000         (b)                                       122,627,000             (c)
                                           106,544,000




(a)

                                                                             2006                      2006
                                                                             6    23                  12   31


                           ......................                       68,592,000                 176,726,000
      ...........................................                            6,658                      12,694
            .....................................                               27.14%                      23.50%
        .........................................                               2010                        2010
                                                                              12 31                       12 31
                .....................................                            0.00%                       0.00%
                .....................................                            5.16%                       4.61%


                                                         I-45
(b)

                                                                                  12    31                                         6 30
                                                            2006                   2007                      2008                   2009
                         ............                              7.999                   7.999                   7.999                   7.999
                         ............                              7.809                   7.305                   6.835                   6.832
                         ............                              6.884                   6.092                   7.234                   6.721
        .............................                            2010                    2010                    2010                    2010
                                                               12 31                   12 31                   12 31                   12 31
                 .........................                        4.61%                   3.06%                   0.76%                   0.84%


24

(a)              Trevor Raymond Strutt

             2006      6    20                                                                                Trevor Raymond Strutt
  100

       (i)


2006         6   20        ..................                              33                      1                              3.5
2006         6   20        ..................                              33                      2                              3.5
2006         6   20        ..................                              34                      3                              3.5
                                                                          100


       (ii)

                                                                                       2006                                     2007
                                                                             12   31                                12     31



                          ........................                                                             5,500                       100
                    . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,500                        100
                    ...........................                                                              (5,500)                       (100)
                          . . . . . . . . . . . . . . . . . . . . . . . . 5,500                        100
                           ........................


             2006      12     31                                                             5,500
  3

             2007      11     11
                               Trevor Raymond Strutt                                            100                               5,500
                             550,000                                              4,131,000
                         Trevor Raymond Strutt                                                                                   100
                 Bubbly Brook Holding Limited




                                                                        I-46
      (iii)




                                                                                               2006
                                                                                              6 20
      ..............................................................                          6,658
        ............................................................                          5,500
            ........................................................                             27.14%
                                                             .......                               3.5
          ..........................................................                              0.00%
            ........................................................                              5.16%




              2006      2007        2008    12   31                2008           2009 6 30
                                                                                      529,000
1,259,000

(b)

         2006     6    20                                                               100

                                                                                                 24(a)(iii)
                                                                    2006      6    20
                                                 2006 6 20
                                                 1,333,000

       2007       11    11                            100                5,500
550,000                         4,131,000                                                                100


                                  Trevor Raymond Strutt


(c)

         2006     6    20       Baslow Technology Limited    Baslow
                            Baslow                                2006    6   20          2009     6    19
         3
               1         Baslow         200           Baslow
              Zhongguo Sun           Trevor Raymond Strutt


                                                      I-47
                                                    Baslow          100
                                                Zhongguo Sun           Trevor Raymond Strutt
                                                                                  1
                                  Zhongguo Sun              Trevor Raymond Strutt



                 Baslow                                                                              2006     6
20              200                                         10,655,000                               15



                                               Baslow                                   2007   11   11
                       Baslow                                               200
                     2007 11         11

              2006          2007        2008    12     31                   2008      2009 6   30
                                                                                   4,325,000             6,330,000


25

                     2007     9    25                                 50,000          50,000               1.00
                                          1.00                                   2007 9 25                 2008
     7   21                                   1.00                          1,000,000        0.000001
                                   400,000,000                                  0.000001
   50,000                                   49,600,000,000                0.000001                  400,000,000
        0.000001                               2008 12 31             2009 6 30
1,000,000                            0.000001



                                                                         26(b)

26

(a)




             2006      12     31                         14,636,000                                          2007
         2008 12       31                           2009 6 30




(b)



                                               25

                                                             I-48
       (i)

             2006     2                                                                                      4%
                                                                         48%         52%
                                                                                      75% 75%         40%        75%       75%
                                2006     12     31                               14,767,000


                                         2006        4      18                                    50,000                   50,000
                    1.00                                                         2006     5    12     2006       6    23
                       23,000                               2,000          850

       2007 11            19                                                Deutsche Securities Nominees Hong Kong
Limited    488                           1.00                                                290,399,000

       (ii)

             2006     6                                                  271,884,000                                              48%

             75%      75% 40% 75%               75%                                                                   171,026,000
                         271,884,000                                100,858,000

(c)

                      2007      9   25                                   2009    6   30
2009         6   30

(d)




27

(a)

                                                                    8                                                                 9


                                                                    12     31                                6   30
                                                     2006                2007           2008          2008                 2009



                       ...............                      842             5,076             6,445      2,206                2,790
                    ..................                                         19                22         11                   14
                       ...............                   1,862              1,259
                                                         2,704              6,354             6,467      2,217                2,804



                                                                    I-49
                                                     4(b)


            4(b)

(b)

      (i)

                                                        12     31                              6   30
                                            2006             2007        2008           2008            2009



                              .........                        83,617        1,415           1,415
                              .........         5,364          81,773        1,400           1,400
                        ...............                         4,518             13               13


                                               8%
  2009        6    30

      (ii)

                                                                        12   31                         6 30
                                                             2006        2007           2008             2009


                        ..........................              1,777


(c)

            2006    3    30                                                            18%
                                        14,985,000

(d)

      Zhongguo Sun               Trevor Raymond Strutt                                                     Baslow
                                                      24(c)


                                                        12     31                              6   30
                                            2006             2007        2008           2008            2009



                        ...............         4,325           6,330


                                 2007     11    11




                                                        I-50
28
(a)
         2006       2007    2008   12   31   2009       6   30


                                                                 12   31                          6 30
                                                  2006            2007               2008          2009


                     ........................       212,990        632,460          375,226         309,543
                     ........................       666,721      1,182,384          783,890       2,318,922
                                                    879,711      1,814,844        1,159,116       2,628,465

(b)
         2006       2007    2008   12   31   2009       6   30


                                                                 12   31                          6 30
                                                  2006            2007               2008          2009


         .................................              1,422          4,553              4,651      4,393
                  ........................              5,431         13,114             10,449      8,732
         .................................              9,783         26,053             24,366     26,778
                                                       16,636         43,720             39,466     39,903

                                                                           15   25


(c)
                                                                       2006     11       10
                                                        250,000,000
         25%


(d)
         2006
  30
       2007     12 31                                      910,000
                2008 12 31                             1,735,000           2009      1      1
                    1,325,000


                                                                 12   31                          6 30
                                                  2006            2007               2008          2009


         .................................                858            910              1,735      1,325
                  ........................              3,639          3,639              6,938      5,302
         .................................             22,745         21,548             39,459     29,489
                                                       27,242         26,097             48,132     36,116

                                                I-51
                                                              30%                              2006
2007   2008     12 31                     2008          2009 6 30
              3,920,000             2,350,000                587,000

(e)




                                                              3,300,000



29




(a)




                                                                             30   45




2006   2007       2008    12   31    2009   6      30
                                                                       97%    87%      74%    79%




                                                                                         16




                                                 I-52
(b)




                                                5%



                                                                           12       31                                       6 30
                                                         2006                2007                      2008                   2009


          ...............................                     2,191              (2,050)                           (9)            (1,470)


                                                5%



(c)




                                                                          2006      12       31


                                                                      1                  1                 2
                                                                                             2                 5              5


             .............................   287,334      340,071         174,477                 84,554            20,711          60,329
                     .....................   117,031      117,031         117,031
          ................................    33,440       75,200           3,200                  3,200             9,600          59,200
        ..................................    81,306       81,798          81,798
                 .........................   142,675      162,380                                                  162,380
      ....................................    26,930       26,930          26,930
          ................................     1,777        1,777           1,777
                                             690,493      805,187         405,213                 87,754           192,691         119,529




                                                       I-53
                                                                          2007      12       31

                                                                    1                    1                  2
                                                                                             2                  5                 5


         .............................    734,514       867,308          382,411                  150,550           279,375            54,972
                 .....................    317,092       317,092          317,092
      ................................     32,915        72,000            3,200                    3,200             9,600            56,000
             .........................    161,668       162,380                                                     162,380
                                         1,246,189    1,418,780          702,703                  153,750           451,355           110,972



                                                                          2008      12       31


                                                                    1                    1                  2
                                                                                             2                  5                 5


         .............................    900,612     1,003,240          550,539                  253,970           198,731
                 .....................    572,710       572,710          572,710
      ................................     32,348        68,800            3,200                    3,200             9,600            52,800
             .........................    141,224       162,380                                   162,380
                                         1,646,894    1,807,130         1,126,449                 419,550           208,331            52,800



                                                                          2009      6    30


                                                                    1                    1                  2
                                                                                             2                  5                 5


         .............................   1,306,895    1,442,959          622,695                  368,896           446,271                5,097
                 .....................     515,064      515,064          515,064
      ................................      33,592       68,800            3,200                    3,200             9,600            52,800
             .........................     156,500      162,380                                   162,380
                                         2,012,051    2,189,203         1,140,959                 534,476           455,871            57,897




(d)

                                                            19    21       22       23            27



                  100



                                                                           12       31                                        6       30
                                                       2006                 2007                        2008                  2009


      ...............................                       1,139                   3,147                   5,727                     8,648




                                                     I-54
(e)

      (i)

                                 7




                                                                2006   12   31




              2,000,000        .............                                     318              318
                                    ........           20,048                                  20,048
                                                       20,048                    318           20,366


                                                                2007   12   31




                                     ........          37,531                                  37,531


                                                                2008   12   31




                                     ........          16,230                                  16,230


                                                                2009   6    30




                                     ........          27,183                                  27,183


      (ii)

                                                                  2006           2007   2008    12
31          2009   6      30




                                                I-55
30




      1

(a)




(b)




(c)




(d)

                 15   25




          I-56
31




                       17
                     . . . . . . . . . . . . . . . . . . . . . . 2009    7   1

               18
     ...............................                                         2009   7   1


     1
                        . . . . . . . . . . . . . . . . . . . . 2009     7   1

     3                                      .........                                   2009
                                                              7     1



                                9
                     . . . . . . . . . . . . . . . . . . . . . . 2009    7   1

     27
            . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009   7   1

     39
                                                . . . . . . . 2009       7   1

          2009     . . . . . . . . . . . . . . . . . . . . . . . 2009    7   1
                                                                 2010    1   1

            1
                          . . . . . . . . . . . . . . . . . . . 2010     1   1

            2
                                                . . . . . . . 2010       7   1




                                         I-57
D

                           2009        6    30

1




           2009    7     10
                                                                      1,269,000,000             200,000,000


                                                49,600,000,000        0.000001                     0.000001
       400,000,000                                       49,800,000,000        0.000001
200,000,000 0.000001

                         2009    7     10

2

           2009    9     12


E

                  2007          2008       12    31     2009      6   30

                                                                           12   31              6 30
                                                               2007                      2008    2009



                   .......................


            25     .......................

F

                                                                           2009      6   30




2009   9   24


                                                           I-58
                                                4.29
                                       (i)
          (ii)                               2009       12         31




A.


                                                                          2009     6     30



                                                        2009
                                                    6    30




                                                                    (i)                (ii)                             (iii)               (iii)


                     6.03               ....        1,358,173                1,634,441        2,992,614               1.65             1.87
                     7.91               ....        1,358,173                2,173,674        3,531,847               1.95             2.21



(i)       2009       6    30
                                1,365,616,000                                                             9,924,000                        2009
          6     30                              2,481,000


(ii)
        6.03             7.91                                (a)
          (b)                                                                                                                     0.8811
        1.00
(iii)                                                                                                             1,809,232,500



                                                                                                                                  0.8811
        1.00



                                                                            II-1
(iv)                       2009       7        31
                      2009        6       30                                                                                       2009    12     31


(v)                                                                                          2009       6   30



B.

                                                    2009       12   31
                                                                                                                 2009     1    1

          2009        12        31

        2009     12        31
                                                                         (i)(ii)
                                                                                   ...                                                          450
                                                                                                                                          511

                                                      (iii)
                                                              ..............                                        0.26                        0.30


(i)                        2009       12        31
(ii)       2009       12    31
                                                                 2009    6         30                                                           2009   12    31


                                                                                                                                                 C          1
(iii)                                                                    2009           12   31
                                                                                    2009     1    1                                             1,809,232,500
                                                                                                                                            (a)
                                                                                                  (b)
(iv)                                                                                                             0.8811       1.00




                                                                                    II-2
C.




                                               2009   9   24
                                    II-1   II-2



       II-1    II-2     (A)   (B)




                                                               4.29
                                    7



     4.29(7)




                      II-3
  300




                                                           4.29(1)




                  2009     6    30

                    2009       12    31




       (a)

       (b)

       (c)                                4.29(1)




2009     9   24

                                                    II-4
A.
            2009     12   31


B.
                                    2009   6   30
2009   12    31                                                          2009   12   31




                                                    H5N1                 H1N1




                   2009   12   31                                                         450
                                                             12

                                                                  2009    12    31



                                                     III-1
C.




     III-2
III-3
D.




     2                                                 1
         68                                           46




              Alex Schrantz           George Taylor




                              III-4
                                                    2009     7    31


                                    Jones Lang LaSalle Sallmanns Limited
                                    17/F Dorset House Taikoo Place
                                    979 King’s Road Quarry Bay Hong Kong
                                    tel +852 2169 6000 fax +852 2169 6001
                                    Licence No: C-030171


                                        +852 2169 6000      +852 2169 6001




2009   7   31




                                1



                2   14




                         IV-1
                                  5
12                     RICS   6
            2005   1




     IV-2
                            B.Sc. FRICS FHKIS




       1518
         A
1702




2009   9   24

                26                29




                     IV-3
                                               2009   7   31
                       2009   7   31



1.                            488,000   100%          488,000




     B   2207

2.                       59,846,000     100%     59,846,000




3.                                      100%




4.                                      100%


                18-2


5.                                      100%




6.                                      100%




7.                                      100%




                       IV-4
                                      2009   7   31
               2009   7   31



8.                             100%



        18-2



9.                             100%



      600



10.                            100%




11.                            75%




12.                            100%




13.                            100%




               IV-5
                                        2009   7   31
                 2009   7   31



14.                              100%




                   60,334,000             60,334,000




                                        2009   7   31
                 2009   7   31



15.                              70%


       10


16.                 9,956,000    100%      9,956,000




                    9,956,000              9,956,000




                                        2009   7   31



17.

      1518
        A 1702

18.

       2123
       3033

                 IV-6
                                                                     2009   7   31



19.



                  B
      2114

20.




      2601    2602     2603          2605       2606   2607   2608

21.


                      18
                           2           3

22.


                                           55
              1                202

23.


                      65
              3                  4

24.


                                           54
              1                202

25.



      9   1



                                                                       70,290,000




                                                              IV-7
                                                                                                          2009   7    31



1.                                                                    2004                                       488,000
                                                  28
                                      22                                                                             100%

                      B
      2207                            131.85                                                                488,000




                                      2042     12           29




1.
           2004   9   29                                                                     137.32
                  442,170
2.                                     2007       11        14                                 00227119
             131.85
3.                    2008   6   30                                           2008   A0671
                                           2042        12        29
4.


     (i)
     (ii)




                                                                       IV-8
                                                                                                                        2009          7        31



2.                                                                                                                           59,846,000
                                                 115,754.04
                                                          2004                                                                            100%


                                                                                                                        59,846,000

                                       2,508.23




                                                             1,270
                                                                     2009        10




                                                  2053         5     22          2056
                                           7     30



1.
                2003     5   22                                                                      2003    15
     26,667                                                                                             50          2003          5       22
       2053     5   21                                26,667
2.                                                                         2003       7   29
                         2003     26                            40,001.5
                            50            2003    7    29          2053      7    28                  40,001.5
3.                                                    2006     7 31                                        4404LG-2006-000037
                        50,000                                                                                    50       2006
       7   31            2056 7 30                                   4,000,000
4.                             2008        1     11                                            C6098134                               25,752.54
                    1                                                                                        2053       5        22
5.                                 2008     1    15                                            C6099251                                40,001.5
                                  2                                                                       2053      7       28




                                                                      IV-9
6.                                            2008   1   15                                                  C6099252                          50,000
                                          3                                                                             2056   7    30
7.                                                                               2008   1   14                                             C6098130
                      2008       1        11                                       C6098131              C6098133                           2,508.23


8.                                                                    2007                         065                             1,270


9.
10.                                                                                2,850,000                        2,689,000


11.                 2009     6       24                           A11092402086                           4                         25,752.54
                                                         7
              40,000,000                                              2009   6   24         2010     6       23
12.
      (i)                                 1          2        3


      (ii)                 1


      (iii)


      (iv)          11                                                                                                                   2009    6
               24          2010           6    23




                                                                         IV-10
                                              2009    7   31



3.                                    2003




                           2,929.29




1.
             2006   10   25
                                                 20
                         100,000
2.


                     3,282,000
3.


     (i)
     (ii)


     (iii)




                                      IV-11
                                             2009   7   31



4.                                   2004




             18-2
                         1,636.3




1.



                                20
2.


                    2,747,000
3.


     (i)
     (ii)
     (iii)




                                     IV-12
                                                                                                    2009   7   31



5.                                             2005




                                    1,471.1




1.
             2007   4     10
                                                                      25
2.                                            2007    11       1
                        27,755.46             2004    7    2       2029    7   2           25
     771,046.68                                                      470


3.                                                                  1,471.1


                                                                               1,352,000
4.


     (i)


     (ii)


     (iii)
     (iv)                                                                                       3




                                                IV-13
                                                                    2009   7    31



6.                                               2004        2009




                         2,814




1.
             2003   1   18       2008   8       28
                                                                           20
                                            3


2.


                    3,830,000
3.


     (i)
     (ii)


     (iii)




                                                     IV-14
                                                                            2009   7   31



7.                                             2007




                                  1,817.72




1.


                                                                 2006   6    1
             2028   5   31                              42,000
                                             283,900
2.


                             2,630,000
3.


     (i)


     (ii)
     (iii)




                                                IV-15
                                            2009   7   31



8.                                  2007




             18-2           1,538




1.



                               20


2.


                1,730,000


3.


     (i)


     (ii)



     (iii)




                                    IV-16
                                                              2009   7   31



9.                               2007        2008




             600
                   5,807.25




1.



                      20                             25,000
                                           100,000


2.


                    10,199,000


3.


     (i)


     (ii)



     (iii)




                                   IV-17
                                                                 2009     7   31



10.                                       2007       2009




                             4,548.7




1.
              2006   6   5
                                                            20



2.                                        2007   11 7            20,000
                                  20               1,000

3.

                              6,067,000

4.

      (i)

      (ii)



      (iii)




                                             IV-18
                                                                                                    2009    7   31



11.
                                 68,055.4
                                   2008




                                 17,527.11




                                     2056    5   14




1.           2009      6   19                                      2009    380015                   68,055.4
                                                                                                    75%
                                50           2056     5   14
2.           2009   5      21                                             0000160293   0000160297         0000160298
                       17,527.11
3.


             63,630,000
4.


      (i)                                                      1



      (ii)
                4(i)




                                                      IV-19
                                                        2009       7    31



12.                             2008




                     2,560.8




1.                                                    2006    8    31


                                          20


2.            2007     5   15                  2007          038
                     72,411.4
3.


              6,127,000
4.


      (i)


      (ii)


      (iii)




                                  IV-20
                                                  2009     7        31



13.                                  2009




                          1,533.55




1.                                             2006   11       10


                  2009     3   1        25


2.


              2,125,000
3.


      (i)
      (ii)


      (iii)




                                       IV-21
                                                    2009   7   31



14.                                  2009




                         2,800.36




1.                                                         2007     3
            3
                                               20
                80,000


2.


                         3,625,000
3.


      (i)
      (ii)


      (iii)




                                       IV-22
                                                                      2009    7   31



15.

                                 2009      10
              10



                               2,487




1.                                                             2008   11     28



                   70%
2.                                     2,170,000   1,887,900
3.


                   1,223,000
4.


      (i)
      (ii)


      (iii)




                                IV-23
                                                                                                                       2009       7        31



16.                                                                                                                          9,956,000
                                              35,362.3
                                                                                                                                      100%



                                                                   2009     10                                             9,956,000




                                                           2,296



                                                                       50
                                                         2056   12    31




1.
      2006      12      31                                                                2006     58         109
            35,362.3                                                                                         50
      4,950,680
2.                         2008    4     1                                       (2008)   0179   0180                             35,362.3
                                                                                            50                 2056    12     31
3.                                                                               3210002008K0101             3210002008K0020
      3210002008K0022
4.               2008        7    21                                        2                     35,362.3
                                                                                   8,950,000                          41                   2008
            7   31               2011    12   31
5.


      (i)


      (ii)
      (iii)            2                                                                                41          2008      7       31
                     2011    12     31




                                                                   IV-24
                                                                                      2009   7   31



17.                                              2005
                              21                           17

                     1518
                       A
       1702                 389.29




                                                6          2006
                              8      20         2012      8 19

                                     4.9853




1.
                              2006    7   6                                2006   8   20
                               6                                  4.5321
            4.9853                            5.4838
2.


      (i)


      (ii)




                                                  IV-25
                                                                         2009   7      31



18.                                       1998
                                 28                 3

                 2123
                                                   30
       3033




                                         2006 10   18
                                 2011   10 18
                                        18,000




1.
                                                        2006   10   18          2011        10
            18          18,000
2.


      (i)


      (ii)




                                           IV-26
                                                                       2009    7   31



19.                                          2004
                              28
                    21

                                                           53
              B
       2114



                      2009        2   13            2009
                    12 31
                    15,828




1.                                                              2009    2     23
                  2009   2   13       2009    12     31           15,828
2.


      (i)
      (ii)




                                             IV-27
                                                                    2009   7   31



20.                                              2004
                                  29
                     26



                     1,300.67
         2601 2602
       2603 2605
       2606 2607
       2608               2007      10       1          2010
                     9     30
                                  4.6




1.
                           2007     10   1        2010    9    30   4.6
2.


      (i)
      (ii)




                                                 IV-28
                                                                                      2009      7   31



21.                                             2004
                                 3                             2
                                 3
                 18
                      2                                  150
             3




                          2009       4   1           2011     3
                          31                                960




1.                                                                             2009   4     1
                                         2009    4   1         2011   3   31          960


2.


      (i)
      (ii)




                                                IV-29
                                                                                         2009      7   31



22.                                               1998
                                   7                          2



                                                           80
             55         1
                  202



                            2009       3   1           2012     2
                            29                                600




1.                                                                                2009   3     9
                                           2009    3   1          2012   2   29          600


2.


      (i)
      (ii)




                                                  IV-30
                                                                                      2009     7   31



23.                                             1996
                                 7                         4



             65       3                                 120
                  4




                          2009       3   5          2010     3
                          4                                940




1.                                                                            2009    3    4
                                         2009   3   5          2010   3   4          940


2.


      (i)
      (ii)




                                                IV-31
                                                                               2009      7   31



24.                                     2001
                         7                          2



             54                                  80
              1
       202



                  2009       9   1           2010     2
                  28                                900




1.                                                                      2009   3     1
                                 2009    9   1          2010   2   28          900


2.


      (i)
      (ii)




                                        IV-32
                                                                2009     7   31



25.                                      4,973.36

                      2008               2
                      1                      2
       9    1



                150




                     2009    4   6           2010
                  4 5
                96,004




1.
                             2009    4   6       2010   4   5   96,004
2.


      (i)




                                     IV-33
            2007   9   25                  22   1961




1.

(a)
                                                       27(2)




(b)

2.

                   2009     9   12



(a)

      (i)




                                     V-1
(ii)




(iii)




(iv)




(v)




        V-2
       (aa)




       (bb)




       (cc)




       (dd)



       (ee)

              5%



       (ff)




(vi)




                   V-3
(vii)




        (aa)




               V-4
               (bb)

               (cc)          (6)



               (dd)

               (ee)

               (ff)




      (viii)




      (ix)




      (x)




                      (30)

(b)




                             V-5
(c)




      (i)

      (ii)

      (iii)




      (iv)




      (v)




(d)




(e)




                    (21)   (10)



              V-6
                    (95%)
                                                (21)
      (10)

                                  (15)




(f)




(g)



                                         (15)
             (18)



(h)




                            V-7
            (21)




(i)

                                (21)          (20)
                                        (e)
               (21)      (10)
            (14)      (10)




      (i)




                                  V-8
      (ii)
               (95%)




      (aa)

      (bb)

      (cc)

      (dd)

      (ee)

      (ff)
                       (20%)

      (gg)

(j)




             V-9
                               (30)

(k)




(l)




(m)




                   (i)
                               (ii)




      (a)
                         (b)




            V-10
(n)




(o)




      (20)




       V-11
                                        (14)




                                 (20)

(p)



                    (2)
      2.50
      1.00



(q)




(r)



                          3(f)

(s)




             V-12
                                        (i)

                           (ii)




(t)

      (i)
             (ii)
            (iii)
                                  (3)




(u)




                    V-13
3.




(a)




(b)




      (a)               (b)
            (c)                 37     (d)
                  (e)                (f)




(c)




                         V-14
(d)




(e)

      34
                                       34

                 2(m)

(f)



                  (a)            (b)
           (c)




                        (a)                 (b)




                          V-15
            (c)
                     (d)




(g)




(h)

                            (i)                       (ii)
                  (iii)




(i)




(j)

                                   1999           6

      (1)

      (2)

                          2007    10   9




                                           V-16
(k)




(l)




(m)




(n)




             (28)




      V-17
              (21)



(o)



                                           (75%)




(p)

                                             (4)
      (90%)                                  (4)     (2)

          (1)




(q)




4.

                            Conyers Dill & Pearman




                     V-18
A.

1.

                  2007      9     25
                                         Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman,
KY1-111 Cayman Islands                                                                   15
              8                                           XI
KCS Hong Kong Limited




2.




                                                               50,000                 50,000                  1.00



         2008   7 21
              1.00                                                            50,000            49,600,000,000
           0.000001                           400,000,000                 0.000001

       2009 7 10                                                 49,600,000,000                  0.000001
         400,000,000                      0.000001                                     49,800,000,000
0.000001                          200,000,000               0.000001

         2009    7     10



                                                        1,270,000,000                  200,000,000

         2009    9     12
50,000                                                         0.000001             50,000,000,000




                                                                                                     50,000
     48,000                     1.00                   2,000                 1.00



                2006    5 12           2006    6 22                         2,000               1.00
                       Baslow                  1,000


                                                        VI-1
           2006     6 23                                       6,200            1.00                        2,000
                    1.00                                  Baslow           Bubbly Brooke                 3,200
      2,150          850                                          2,000

           2006   11 1                                          8,200            1.00                      2,000
                  1.00                                    Baslow          Bubbly Brooke                       3,200
             2,150     850            2,000                                      2,000

              3 20
           2007                                                 11,910            1.00                     2,000
              1.00                                        Baslow           Bubbly Brooke                      Goal
      Stand Goal                                          4,393      2,150    850      3,733      502        141
        141                                                2,000

           2007    21
                    11                                        12,700               1.00                       2,000
                  1.00                                     Baslow             Bubbly Brooke
      Goal Stand Goal                                Winford Global                              3,970        2,150
           950    3,324               743            191     191     411        770
        2,000




    2007    9     26                                                                           45,998,013.33
                                         2007         9    27
      45,998,013.33                                                                         246,000,000

                  2006   11       8                                       7,500,000          2008 4         18
                                                                                            7,500,000
      9,750,000                                                                        2008 5 26
                              2008       7       2

                  2006   4    12                                          10,000,000           2007 3        5
                                                                                            10,000,000
      11,500,000                                                                        2007 2 7
                                  2007       3       26

                  2003   4    8                                                44,000,000         2007 10 22
                                                                                                     44,000,000
                         140,000,000                                                                2007 11
5                                                    2008       1   3




                                                             VI-2
3.

                                                                   2006   11   10
                                                     25%     49%




4.

                       2009   9   12

     (a)


     (b)

           (i)                         (aa)
                                                      (bb)




                 (1)




                 (2)

                 (3)




                                                                                    20%




                 (4)


                                                           10%



                                              VI-3
                  (5)                (3)

                               (4)

     (c)

     (d)                             50,000                       0.000001
                  50,000,000,000

       (3)    (4)       (5)                                          (i)
                                     (ii)
                                              (iii)




5.




     (a)




     (b)




       2009       9       12

                                                      10%
                                                            (i)
           (ii)
                  (iii)


     (c)




                                              VI-4
(d)




(e)




(f)

              1,809,232,500

180,923,250

(g)




                               26




                        VI-5
B.

1.




     (a)                                                                                                   2007
           11   16               39,263,080                                               488



     (b)                                                                             2009         6    2



     (c)
                     2008   11     28

     (d)                         III       (7A)               Baslow Technology Limited     Bubbly Brooke
           Holdings Limited                                                                 Winford Global
           Investments Limited         Gold Stand Goal Limited               2006A

                                                                                   2009     7     10
                                              1,269,000,000             200,000,000
                                                              12,700           2,000



     (e)

2.




A.



                                                  1




                                             1               2005   9   26                      4913045

YINGDE GASES




                                                      VI-6
                                            (1)



                                        1         2008   7   15              301033389


YINGDE GASES GROUP COMPANY LIMITED




YINGDE GASES GROUP COMPANY LIMITED




(1)




B.




1         Yingdegases.com                                         2006   4    18
2          Yingdegas.com                                          2006   4    18




                                 VI-7
C.

1.

                                               (i)                                        (ii)
                                                                                                                       XV
                                                                    XV       7    8

                                                              347

                      352




              (1)
                    .......                                  306,830,639              (L)                     17.0%
                       (2)
Zhongguo Sun               ..                                295,200,000              (L)                     16.3%



(1)                       55%                                                              306,830,639
                                                                                            31


(2)   Bubbly Brooke                                Equity Trustee        Equity Trustee                                LHM
      Family Trust              LHM Family Trust                     Sun
                    Sun         LHM Family Trust                                                         LHM Family Trust



2.



               10%


                                                                              10%


                                   . . . . 10,000,000                                                          25%

                                ......                                                                         30%
                                          120,000,000




                                                          VI-8
3.

         Sun                                                          2009        9    12

                                                                                       2.4

                                                                                                    2009
     9     12

                                          600,000




4.

                2006   2007       2008   12    31                   2009     6        30

                                              1.8            2.6                       3.1
     1.2

                                                                   2009    12     31
                                                       2.6

5.




D.

                       2009   9    12                                        2009          9   12

                                   10%                                       17

1.




                                                    VI-9
2.

       (a)




       (b)

             (i)




             (ii)         (b)(i)

                                           12



                                    0.1%

                                                        5



     17.04


3.

       (a)


                                                 10%   10%



       (b)
                                   10%




       (c)

                    30%



       (d)

                             30%


                                         VI-10
     (e)                        12

           1%

4.

     (a)




     (b)




                         1.00




     (c)




5.

     (a)



     (b)




6.




7.

                1.00
                 VI-11
8.




      (a)

      (b)


      (c)

9.



10.




11.




      (a)

      (b)   12

      (c)




      (d)




                 VI-12
      (e)               11(c)   11(d)


      (f)




      (g)



                        11(f)



            11(f)




      (h)



      (i)

      (j)



12.




                    3

13.




                                VI-13
14.




                       17.03(13)        2005
  9   5




          14




                                   14




15.




16.




               VI-14
17.



                                                                                  17




                                17.03




                                                                             17


18.




          (a)


          (b)




E.

1.




      Baslow    Bubbly Brooke
                                                                (i)
                                                                      (ii)




          (a)
                                                2009   6   30


                                        VI-15
         (b)


         (c)



         (d)




                                             (1)


                                                   (2)


2.




3.

                         3,650

4.




                                                             1
                                         4               6


                                                             1
                                         4               6




Conyers Dill & Pearman
                                             (n)




                                 VI-16
5.



                    Conyers Dill & Pearman
                    (n)




6.

      (a)




      (b)




      (c)


7.



     44A     44B

8.

                    3A.19
            3A.23




                                   VI-17
9.
                             III       (7A)
            Orangefield Management Services (BVI) Limited, Columbus Centre,
      2nd Floor Suite 210 P.O. Box 4714, Road Town, Tortola, British Virgin
      Islands


      Baslow Technology Limited
      P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British
      Virgin Islands




                        27                     8   801




      Akara Building, 24 De Castre Street, Wickhams Cay I, Road Town, Tortola,
      British Virgin Islands


                2006A
      2nd Floor, Abbott Building, Road Town, Tortola, British Virgin Islands


      Gold Stand Goal Limited
      Sea Meadow House, Blackburne Highway, Road Town, Tortola, British
      Virgin Islands


      Winford Global Investments Limited
      Trinity Chambers, P.O. Box 4301, Road Town, Tortola, British Virgin
      Islands




                        2                     55


      Deutsche Securities Nominees Hong Kong Limited
                        2                     48


10.
                                               4




                               VI-18
                                                                        (i)
                    (ii)                 (iii)
                                  (iv)
(v)




                                                 14
                8            11

(a)

(b)

(c)

(d)

(e)

(f)



(g)



(h)                                                   Conyers Dill & Pearman



(i)

(j)

(k)

(l)

(m)



(n) Conyers Dill & Pearman           Strutt


                                     VII-1

				
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