PICO FAR EAST 00752·

Gross margin ------------------------------------------------------------29.15%--29.93%0.78%29.85%0.07%30.70%0.84%30.94%0.25% Net margin ------------------------------------------------------------3.23%--3.38%0.15%4.57%1.19%5.82%1.24%6.05%0.23% ROE ------------------------------------------------------------6.26%--7.72%1.47%10.09%2.36%15.60%5.51%17.12%1.52% ROA ------------------------------------------------------------2.43%--3.06%0.63%4.82%1.75%6.45%1.63%6.98%0.53% Revenue growth ----------------------------------------------------------------24.71%--17.78%6.93%18.61%0.83%13.37%5.24% Attributable profit growth ----------------------------------------------------------------32.19%--40.78%8.58%56.58%15.81%21.35%35.23% Debt-to-assets ------------------------------------------------------------56.93%--56.38%0.56%53.96%2.42%59.38%5.42%59.16%0.23% Current ratio ------------------------------------------------------------1.46--1.490.031.480.011.370.121.400.04 Operating cash flow / net profit ------------------------------------------------------------1.83--0.960.861.890.922.580.690.761.82 Operating cash flow / revenue ------------------------------------------------------------5.91%--3.26%2.65%8.64%5.38%15.00%6.36%4.61%10.40%

Gross margin 28.66%--29.09%0.43% Net margin 5.95%--6.18%0.24% Revenue growth -----3.47%-- Attributable profit growth -----2.08%-- Debt-to-assets ----78.38%-- Current ratio ----1.40--

Revenue ------------------------------------------------------------3.33B--4.15B24.71%4.89B17.78%5.80B18.61%6.58B13.37% Other income and gains ------------------------------------------------------------136.88M--120.68M11.83%108.78M9.86%171.80M57.94%117.54M31.59% Gross profit ------------------------------------------------------------970.30M--1.24B28.06%1.46B17.49%1.78B21.95%2.03B14.27% Selling and distribution expenses ------------------------------------------------------------478.02M--547.31M14.50%608.12M11.11%750.14M23.36%824.21M9.87% Administrative expenses ------------------------------------------------------------467.24M--540.12M15.60%580.34M7.45%683.76M17.82%746.53M9.18% Net finance costs ------------------------------------------------------------14.98M--20.20M34.90%36.92M82.76%30.64M17.02%25.55M16.60% Income tax ------------------------------------------------------------20.96M--27.20M29.75%52.68M93.73%79.04M50.03%101.63M28.58% Operating profit ------------------------------------------------------------141.47M--185.59M31.19%301.96M62.70%435.05M44.08%517.65M18.99% Share of associates and JVs ------------------------------------------------------------2.12M--2.24M5.72%11.36M405.89%12.01M5.77%7.25M39.61% Profit before tax ------------------------------------------------------------128.61M--167.63M30.34%276.39M64.88%416.42M50.66%499.35M19.92% Net profit ------------------------------------------------------------107.65M--140.44M30.46%223.70M59.29%337.38M50.81%397.72M17.89% Net profit attributable to owners ------------------------------------------------------------112.49M--148.71M32.19%209.34M40.78%327.79M56.58%397.78M21.35%

Revenue 3.47B--3.35B3.47% Other income and gains 67.12M--74.74M11.36% Cost of sales 2.47B--2.37B4.05% Gross profit 994.43M--974.13M2.04% Selling and distribution expenses 394.36M--372.87M5.45% Administrative expenses 379.16M--385.74M1.74% Net finance costs 14.84M--13.45M9.40% Income tax 52.35M--64.28M22.79% Operating profit 268.79M--276.21M2.76% Share of associates and JVs 4.35M--8.43M93.79% Profit before tax 258.68M--271.34M4.89% Net profit 206.34M--207.07M0.35% Net profit attributable to owners 212.33M--207.92M2.08%

Cash and cash equivalents ------------------------------------------------------------1.22B--1.28B5.53%1.18B7.71%1.75B48.18%2.04B16.12% Trade and bills receivables ----------------------------------------------------------------878.84M--898.51M2.24%1.10B22.03%1.08B1.44% Inventories ------------------------------------------------------------20.04M--12.10M39.62%11.91M1.56%5.07M57.43%7.53M48.58% Total current assets ------------------------------------------------------------2.95B--3.08B4.12%3.18B3.41%3.83B20.45%4.29B11.88% Total assets ------------------------------------------------------------4.43B--4.58B3.55%4.64B1.36%5.23B12.64%5.70B8.94% Total current liabilities ------------------------------------------------------------2.03B--2.06B1.76%2.14B4.02%2.80B30.69%3.06B9.03% Total liabilities ------------------------------------------------------------2.52B--2.58B2.54%2.51B2.99%3.11B23.96%3.37B8.53% Equity attributable to owners ------------------------------------------------------------1.80B--1.93B7.10%2.08B7.82%2.10B1.23%2.32B10.61% Total equity ------------------------------------------------------------1.91B--2.00B4.88%2.14B6.99%2.13B0.62%2.33B9.55%

Cash and cash equivalents ----2.45B-- Trade and bills receivables ----1.02B-- Inventories ----9.83M-- Total current assets ----4.83B-- Total assets ----4.83B-- Total current liabilities ----3.44B-- Total liabilities ----3.79B-- Equity attributable to owners ----2.63B-- Total equity ----2.63B--

Net cash from operating activities ------------------------------------------------------------196.78M--135.52M31.13%422.54M211.79%870.29M105.97%302.91M65.19% Net cash from investing activities -------------------------------------------------------------79.05M---117.93M49.18%-124.79M5.82%-199.84M60.14%-140.94M29.48% Net cash from financing activities ------------------------------------------------------------9.56M---27.98M392.60%-514.97M1740.22%-335.39M34.87%2.88M100.86% Net change in cash ------------------------------------------------------------127.30M---10.40M108.17%-217.22M1989.36%335.06M254.25%164.86M50.80%