CARPENTER TAN 00837·

Gross margin 59.78%--59.99%0.21%56.17%3.83%------------------------------------------------60.38%--58.98%1.40%60.21%1.23%60.38%0.17%61.86%1.47% Net margin 38.61%--33.67%4.95%23.81%9.85%------------------------------------------------32.74%--30.82%1.92%34.78%3.96%33.93%0.85%30.64%3.29% ROE 44.60%--36.63%7.97%23.39%13.25%------------------------------------------------16.11%--15.59%0.51%21.60%6.01%19.39%2.21%17.63%1.76% ROA 27.72%--25.92%1.80%12.74%13.19%------------------------------------------------13.81%--13.31%0.50%18.67%5.36%16.99%1.68%15.28%1.72% Revenue growth ----29.11%---11.78%40.89%----------------------------------------------------5.17%--43.59%38.42%1.15%42.44%10.44%9.29% Attributable profit growth ----12.28%---37.68%49.95%-----------------------------------------------------0.38%--61.99%62.37%-1.36%63.35%-0.20%1.17% Debt-to-assets 36.82%--29.16%7.66%45.55%16.39%------------------------------------------------14.26%--14.11%0.15%13.14%0.97%12.40%0.74%13.33%0.93% Current ratio 2.13--2.390.261.361.03------------------------------------------------7.42--6.570.856.880.325.481.404.550.93 Operating cash flow / net profit -0.02--0.900.920.730.17------------------------------------------------0.61--0.630.021.090.460.850.241.040.18 Operating cash flow / revenue -0.68%--30.36%31.04%17.39%12.97%------------------------------------------------19.99%--19.38%0.61%37.96%18.57%28.96%8.99%31.79%2.83%

Gross margin 61.76%--64.92%3.16% Net margin 37.88%--38.15%0.27% Revenue growth -----8.51%-- Attributable profit growth -----7.85%-- Debt-to-assets ----11.53%-- Current ratio ----5.77-- Operating cash flow / net profit ----0.50-- Operating cash flow / revenue ----18.99%--

Revenue 95.40M--123.17M29.11%108.66M11.78%------------------------------------------------330.91M--348.00M5.17%499.69M43.59%505.44M1.15%558.22M10.44% Other income and gains 8.69M--11.55M32.89%11.99M3.84%------------------------------------------------38.22M--35.36M7.46%41.21M16.53%42.46M3.02%45.05M6.10% Cost of sales 38.37M--49.28M28.43%47.63M3.34%-------------------------------------------------------------------- Gross profit 57.03M--73.89M29.57%61.03M17.41%------------------------------------------------199.79M--205.25M2.73%300.88M46.59%305.20M1.44%345.30M13.14% Selling and distribution expenses 8.81M--15.08M71.27%16.63M10.22%------------------------------------------------71.61M--69.76M2.59%85.50M22.57%85.62M0.14%96.94M13.22% Administrative expenses 15.67M--18.59M18.59%17.68M4.86%------------------------------------------------30.82M--31.98M3.74%40.47M26.56%41.85M3.41%45.43M8.56% Net finance costs 688.00K--1.45M110.32%2.33M61.09%------------------------------------------------334.00K--627.00K87.72%581.00K7.34%611.00K5.16%664.00K8.67% Income tax 2.53M--6.87M171.60%6.31M8.08%------------------------------------------------22.45M--26.11M16.30%35.92M37.59%41.45M15.42%45.46M9.66% Operating profit 40.05M--49.78M24.28%34.52M30.66%------------------------------------------------131.13M--133.99M2.18%210.27M56.93%213.54M1.56%217.15M1.69% Profit before tax 39.37M--48.33M22.78%32.19M33.41%------------------------------------------------130.79M--133.36M1.96%209.69M57.23%212.93M1.55%216.49M1.67% Net profit 36.84M--41.47M12.57%25.87M37.60%------------------------------------------------108.35M--107.26M1.01%173.77M62.01%171.48M1.32%171.03M0.26% Net profit attributable to owners 36.98M--41.52M12.28%25.87M37.68%------------------------------------------------107.66M--107.25M0.38%173.73M61.99%171.37M1.36%171.03M0.20%

Revenue 287.89M--263.39M8.51% Other income and gains 22.76M--32.14M41.21% Cost of sales 110.09M--92.39M16.08% Gross profit 177.80M--171.00M3.82% Selling and distribution expenses 46.01M--48.96M6.41% Administrative expenses 17.67M--26.67M50.93% Net finance costs 288.00K--436.00K51.39% Income tax 24.32M--23.50M3.37% Operating profit 133.65M--124.42M6.91% Profit before tax 133.37M--123.99M7.03% Net profit 109.05M--100.49M7.85% Net profit attributable to owners 109.05M--100.49M7.85%

Cash and cash equivalents 39.16M--40.43M3.26%50.88M25.84%------------------------------------------------35.80M--27.16M24.12%67.38M148.09%41.71M38.09%79.74M91.16% Trade and bills receivables 607.00K--690.00K13.67%420.00K39.13%------------------------------------------------4.90M--5.35M9.12%6.81M27.28%7.15M5.07%7.73M8.11% Inventories 24.92M--39.26M57.53%40.94M4.29%------------------------------------------------198.10M--244.43M23.39%248.14M1.52%292.50M17.88%308.56M5.49% Total current assets 91.56M--97.59M6.58%116.44M19.32%------------------------------------------------564.79M--525.19M7.01%641.32M22.11%537.81M16.14%523.40M2.68% Total assets 132.88M--159.97M20.38%203.17M27.00%------------------------------------------------784.31M--805.56M2.71%930.78M15.54%1.01B8.42%1.12B10.93% Total current liabilities 42.90M--40.81M4.86%85.58M109.70%------------------------------------------------76.11M--79.98M5.09%93.19M16.52%98.06M5.22%115.03M17.30% Total liabilities 48.93M--46.65M4.65%92.54M98.37%------------------------------------------------111.86M--113.68M1.63%122.29M7.58%125.17M2.35%149.25M19.25% Equity attributable to owners 82.90M--113.32M36.70%110.63M2.38%------------------------------------------------668.40M--687.82M2.91%804.38M16.95%883.96M9.89%970.20M9.76% Total equity 83.96M--113.32M34.98%110.63M2.38%------------------------------------------------672.45M--691.88M2.89%808.48M16.85%883.96M9.34%970.20M9.76%

Cash and cash equivalents ----70.11M-- Trade and bills receivables ----9.94M-- Inventories ----356.77M-- Total current assets ----541.73M-- Total assets ----1.11B-- Total current liabilities ----93.95M-- Total liabilities ----127.92M-- Equity attributable to owners ----981.50M-- Total equity ----981.50M--

Net cash from operating activities -647.00K--37.40M5880.37%18.89M49.48%------------------------------------------------66.15M--67.46M1.98%189.66M181.16%146.39M22.82%177.45M21.22% Net cash from investing activities -17.51M---25.48M45.53%-26.13M2.56%-------------------------------------------------66.78M--14.02M121.00%-89.46M737.97%-73.01M18.40%-40.95M43.90% Net cash from financing activities 30.70M---10.50M134.20%18.00M271.43%-------------------------------------------------60.00M---85.68M42.80%-59.87M30.13%-97.48M62.83%-103.44M6.11% Net change in cash 12.54M--1.42M88.69%10.76M658.49%-------------------------------------------------60.63M---4.20M93.07%40.33M1059.23%-24.10M159.77%33.05M237.13%

Net cash from operating activities ----50.02M-- Net cash from investing activities ----30.84M-- Net cash from financing activities -----86.96M-- Net change in cash -----9.63M--