PCCW 00008·

Gross margin ------------------------------------------------------------50.01%--50.33%0.32%50.16%0.17%49.07%1.09%46.51%2.56% Net margin ------------------------------------------------------------8.31%--7.66%0.66%5.75%1.91%5.17%0.58%6.50%1.33% ROE ------------------------------------------------------------12.26%--2.84%9.41%-18.98%21.83%-18.70%0.28%12.87%31.57% ROA ------------------------------------------------------------3.13%--2.90%0.22%2.21%0.69%1.97%0.24%2.48%0.52% Revenue growth ----------------------------------------------------------------11.13%--2.24%8.89%5.59%3.35%4.53%1.05% Attributable profit growth -----------------------------------------------------------------83.39%---402.42%319.04%34.91%437.34%17.74%17.17% Debt-to-assets ------------------------------------------------------------83.57%--86.57%3.00%89.74%3.17%88.34%1.40%93.54%5.20% Current ratio ------------------------------------------------------------0.86--0.700.160.680.020.590.090.620.02 Operating cash flow / net profit ------------------------------------------------------------3.29--3.740.456.392.645.470.914.670.81 Operating cash flow / revenue ------------------------------------------------------------27.37%--28.67%1.30%36.72%8.05%28.29%8.43%30.33%2.04%

Net margin 4.01%--4.75%0.74% Revenue growth ----6.78%-- Attributable profit growth ----37.98%-- Debt-to-assets ----97.00%-- Current ratio ----0.57--

Revenue ------------------------------------------------------------28.99B--32.22B11.13%32.94B2.24%34.78B5.59%36.36B4.53% Gross profit ------------------------------------------------------------14.50B--16.21B11.85%16.52B1.90%17.07B3.30%16.91B0.92% Administrative expenses ------------------------------------------------------------10.78B--12.06B11.90%12.02B0.30%12.08B0.47%11.99B0.76% Net finance costs ------------------------------------------------------------1.15B--1.63B42.40%2.41B47.84%2.61B8.18%2.15B17.46% Income tax ------------------------------------------------------------815.96M--600.28M26.43%370.64M38.25%784.36M111.62%729.80M6.96% Operating profit ------------------------------------------------------------3.68B--4.11B11.58%4.75B15.67%5.40B13.48%5.29B1.96% Share of associates and JVs ------------------------------------------------------------467.67M---248.33M153.10%-228.37M8.04%-328.74M43.95%-131.87M59.89% Profit before tax ------------------------------------------------------------3.06B--2.32B24.20%2.26B2.45%2.58B14.00%3.09B19.75% Net profit ------------------------------------------------------------2.41B--2.47B2.36%1.89B23.21%1.80B5.10%2.36B31.40% Net profit attributable to owners ------------------------------------------------------------849.49M--141.14M83.39%-426.83M402.42%-277.81M34.91%-228.51M17.74%

Revenue 18.92B--20.20B6.78% Other income and gains 125.00M--224.00M79.20% Cost of sales 9.98B--11.16B11.88% Administrative expenses 6.60B--6.88B4.20% Net finance costs 1.19B--1.09B7.68% Income tax 446.00M--432.00M3.14% Share of associates and JVs -118.00M--50.00M142.37% Profit before tax 1.20B--1.39B15.53% Net profit 758.00M--959.00M26.52% Net profit attributable to owners -445.00M---276.00M37.98%

Cash and cash equivalents ------------------------------------------------------------3.73B--2.69B27.97%2.38B11.43%2.12B11.00%2.34B10.50% Trade and bills receivables ------------------------------------------------------------4.71B--4.11B12.72%3.75B8.85%3.41B9.13%4.07B19.42% Inventories ------------------------------------------------------------1.18B--1.84B56.24%1.46B21.00%1.97B34.85%1.54B21.63% Total current assets ------------------------------------------------------------15.22B--15.23B0.01%12.88B15.42%13.92B8.08%16.85B21.09% Total assets ------------------------------------------------------------77.04B--84.92B10.23%85.69B0.92%91.45B6.72%95.21B4.10% Total current liabilities ------------------------------------------------------------17.67B--21.77B23.20%18.82B13.56%23.42B24.44%27.24B16.29% Total liabilities ------------------------------------------------------------64.38B--73.52B14.19%76.90B4.61%80.79B5.06%89.06B10.23% Equity attributable to owners ------------------------------------------------------------6.93B--4.96B28.42%2.25B54.68%1.49B33.93%-1.78B219.55% Total equity ------------------------------------------------------------12.66B--11.40B9.92%8.79B22.90%10.66B21.28%6.15B42.35%

Cash and cash equivalents ----3.58B-- Trade and bills receivables ----5.00B-- Inventories ----1.84B-- Total current assets ----19.32B-- Total assets ----108.64B-- Total current liabilities ----34.00B-- Total liabilities ----105.38B-- Equity attributable to owners -----4.21B-- Total equity ----3.26B--

Net cash from operating activities ------------------------------------------------------------7.93B--9.24B16.40%12.09B30.96%9.84B18.65%11.03B12.08% Net cash from investing activities -------------------------------------------------------------6.23B---5.37B13.87%-6.76B26.02%-7.13B5.38%-7.36B3.25% Net cash from financing activities -------------------------------------------------------------1.28B---5.21B305.89%-5.68B9.09%-3.02B46.82%-3.39B12.28% Net change in cash ------------------------------------------------------------421.06M---1.34B417.58%-347.99M73.98%-307.45M11.65%278.19M190.48%