TIANNENG POWER 00819·

Gross margin 5.40%--8.56%3.17%7.11%1.45%6.41%0.70%9.81%3.41% Net margin 1.81%--2.79%0.98%2.19%0.60%1.69%0.50%3.09%1.40% ROE 10.01%--12.44%2.42%11.49%0.95%7.07%4.42%8.31%1.24% ROA 4.74%--5.18%0.44%3.93%1.26%2.35%1.58%3.02%0.67% Revenue growth -----12.87%--12.46%25.32%-8.61%21.07%-29.83%21.22% Attributable profit growth ----38.19%--1.42%36.77%-37.29%38.71%25.77%63.06% Debt-to-assets 53.03%--57.23%4.20%60.55%3.32%65.79%5.25%63.15%2.64% Current ratio 1.51--1.300.211.260.041.130.131.130.00 Operating cash flow / net profit 1.36--0.760.591.270.500.420.853.122.70 Operating cash flow / revenue 2.46%--2.13%0.33%2.78%0.65%0.72%2.06%9.65%8.93%

Gross margin 10.49%--10.21%0.28% Net margin 3.81%--1.46%2.35% Revenue growth -----6.24%-- Attributable profit growth -----65.33%-- Debt-to-assets ----70.65%-- Current ratio ----1.19-- Operating cash flow / net profit 0.97---1.622.59 Operating cash flow / revenue 3.68%---2.37%6.05%

Revenue 85.62B--74.60B12.87%83.89B12.46%76.67B8.61%53.80B29.83% Other income and gains 1.09B--1.11B1.11%1.90B71.47%2.10B10.73%1.64B22.00% Gross profit 4.62B--6.39B38.27%5.96B6.65%4.91B17.64%5.28B7.48% Selling and distribution expenses 1.04B--1.23B18.53%1.42B15.86%1.29B9.19%1.29B0.36% Administrative expenses 989.38M--1.36B37.75%1.36B0.43%1.27B6.33%1.25B1.51% Net finance costs 254.09M--340.74M34.10%482.78M41.69%546.53M13.20%433.51M20.68% Income tax 285.73M--659.16M130.69%727.78M10.41%594.11M18.37%330.25M44.41% Operating profit 2.09B--3.08B47.13%3.05B1.08%2.44B19.96%2.44B0.11% Share of associates and JVs -2.73M---905.00K66.91%-835.00K7.73%-485.00K41.92%-9.68M1894.85% Profit before tax 1.84B--2.74B49.10%2.56B6.40%1.89B26.19%1.99B5.35% Net profit 1.55B--2.08B34.07%1.84B11.73%1.30B29.30%1.66B28.13% Net profit attributable to owners 1.30B--1.80B38.19%1.82B1.42%1.14B37.29%1.44B25.77%

Revenue 24.19B--22.68B6.24% Other income and gains 889.23M--534.15M39.93% Cost of sales 21.66B--20.37B5.95% Gross profit 2.54B--2.32B8.70% Selling and distribution expenses 592.05M--615.30M3.93% Administrative expenses 561.36M--612.46M9.10% Net finance costs 235.38M--210.65M10.50% Income tax 181.42M--85.77M52.72% Share of associates and JVs -6.27M--2.52M140.15% Profit before tax 1.10B--416.91M62.23% Net profit 922.48M--331.14M64.10% Net profit attributable to owners 819.77M--284.20M65.33%

Cash and cash equivalents 8.70B--7.55B13.24%9.46B25.31%9.14B3.34%7.83B14.38% Trade and bills receivables 3.33B--5.04B51.44%5.03B0.19%4.58B8.95%6.34B38.45% Inventories 4.48B--6.84B52.53%6.81B0.48%8.28B21.69%7.70B7.10% Total current assets 23.09B--26.54B14.95%29.34B10.55%33.22B13.22%33.95B2.20% Total assets 32.74B--40.14B22.59%46.75B16.48%55.28B18.24%55.14B0.26% Total current liabilities 15.29B--20.37B33.27%23.29B14.30%29.27B25.71%29.92B2.21% Total liabilities 17.36B--22.97B32.30%28.31B23.23%36.37B28.49%34.82B4.26% Equity attributable to owners 12.98B--14.44B11.28%15.86B9.80%16.16B1.90%17.30B7.04% Total equity 15.38B--17.17B11.64%18.44B7.45%18.91B2.52%20.32B7.45%

Cash and cash equivalents ----7.27B-- Trade and bills receivables ----7.68B-- Inventories ----8.52B-- Total current assets ----51.74B-- Total assets ----68.85B-- Total current liabilities ----43.57B-- Total liabilities ----48.64B-- Equity attributable to owners ----17.22B-- Total equity ----20.21B--

Net cash from operating activities 2.10B--1.59B24.47%2.33B46.56%549.16M76.43%5.19B845.24% Net cash from investing activities -4.95B---4.21B14.90%-3.58B15.08%-8.46B136.63%-1.07B87.41% Net cash from financing activities 7.08B--1.47B79.25%3.16B114.70%7.60B140.68%-5.44B171.60% Net change in cash 4.24B---1.15B127.15%1.91B265.84%-316.22M116.56%-1.31B315.53%

Net cash from operating activities 891.00M---538.00M160.38%