V.S. INT'L 01002·

Gross margin ----------------------------------------------------------------21.20%--8.38%12.82%15.06%6.68%12.15%2.91%18.81%-- Net margin -----------------------------------------------------------------2.19%---39.74%37.55%-29.20%10.54%-15.71%13.49%3.86%-- ROE -----------------------------------------------------------------1.60%---15.98%14.38%-7.99%7.99%----0.54%-- ROA -----------------------------------------------------------------1.14%---13.09%11.95%-6.73%6.36%----2.04%-- Revenue growth ---------------------------------------------------------------------52.61%---37.03%15.58%-26.69%10.35%---- Attributable profit growth ---------------------------------------------------------------------759.71%--53.74%813.45%57.43%3.69%---- Debt-to-assets ------------------------------------------------------------43.32%--28.69%14.63%18.07%10.63%15.80%2.27%----30.16%-- Current ratio ------------------------------------------------------------1.28--1.900.624.722.822.342.38----1.35-- Operating cash flow / net profit -----------------------------------------------------------------1.85---0.781.07-0.610.171.642.254.08-- Operating cash flow / revenue ----------------------------------------------------------------4.05%--30.85%26.81%17.75%13.10%-25.75%43.50%15.75%--

Gross margin 15.19%--21.64%6.45% Net margin 2.92%--9.06%6.14% Revenue growth ----11.38%-- Attributable profit growth ----2636.59%-- Debt-to-assets ----30.29%-- Current ratio ----1.44--

Revenue ----------------------------------------------------------------256.20M--121.40M52.61%76.44M37.03%56.04M26.69%450.58M-- Other income and gains ----------------------------------------------------------------5.02M--4.56M9.14%4.52M1.01%4.97M10.05%3.23M-- Gross profit ----------------------------------------------------------------54.31M--10.17M81.27%11.51M13.14%6.81M40.84%84.74M-- Selling and distribution expenses ----------------------------------------------------------------5.90M--3.21M45.62%1.66M48.30%1.29M22.24%3.84M-- Administrative expenses ----------------------------------------------------------------45.07M--34.69M23.03%28.79M17.02%62.35M116.59%46.05M-- Net finance costs ----------------------------------------------------------------6.22M--2.22M64.36%1.83M17.45%349.00K80.94%5.92M-- Income tax ----------------------------------------------------------------421.00K--61.00K85.51%28.00K54.10%473.00K1589.29%7.80M-- Operating profit -----------------------------------------------------------------3.93M---49.28M1152.89%-23.78M51.73%-21.25M10.64%31.00M-- Share of associates and JVs ----------------------------------------------------------------4.45M--2.13M52.10%2.40M12.77%4.09M70.44%---- Profit before tax -----------------------------------------------------------------5.19M---48.31M830.61%-22.29M53.85%-8.33M62.63%25.19M-- Net profit -----------------------------------------------------------------5.61M---48.25M759.71%-22.32M53.74%-8.80M60.56%17.39M-- Net profit attributable to owners -----------------------------------------------------------------5.61M---48.25M759.71%-22.32M53.74%-9.50M57.43%2.78M--

Revenue 31.27M--34.83M11.38% Other income and gains 182.00K--444.00K143.96% Cost of sales 26.52M--27.29M2.92% Gross profit 4.75M--7.54M58.65% Selling and distribution expenses 422.00K--219.00K48.10% Administrative expenses 2.86M--3.49M21.87% Net finance costs 408.00K--168.00K58.82% Income tax 571.00K--1.00M75.13% Operating profit 1.89M--4.32M128.37% Profit before tax 1.49M--4.16M179.80% Net profit 914.00K--3.15M245.19% Net profit attributable to owners 82.00K--2.24M2636.59%

Cash and cash equivalents ------------------------------------------------------------104.43M--43.20M58.64%68.61M58.82%85.46M24.56%----74.12M-- Trade and bills receivables ----------------------------------------------------------------60.08M--41.03M31.71%26.23M36.08%----65.54M-- Inventories ------------------------------------------------------------24.66M--24.43M0.91%16.45M32.70%8.06M51.01%----85.44M-- Total current assets ------------------------------------------------------------294.57M--194.26M34.05%133.34M31.36%120.69M9.49%----227.26M-- Total assets ------------------------------------------------------------629.34M--491.96M21.83%368.54M25.09%331.71M9.99%----850.58M-- Total current liabilities ------------------------------------------------------------230.58M--102.33M55.62%28.25M72.39%51.48M82.23%----168.60M-- Total liabilities ------------------------------------------------------------272.63M--141.15M48.22%66.58M52.83%52.41M21.29%----256.54M-- Equity attributable to owners ------------------------------------------------------------356.71M--350.80M1.66%301.95M13.92%279.30M7.50%----514.67M-- Total equity ------------------------------------------------------------356.71M--350.80M1.66%301.95M13.92%279.30M7.50%----594.05M--

Cash and cash equivalents ----11.51M-- Trade and bills receivables ----9.87M-- Inventories ----15.56M-- Total current assets ----37.30M-- Total assets ----127.37M-- Total current liabilities ----25.94M-- Total liabilities ----38.57M-- Equity attributable to owners ----80.77M-- Total equity ----88.80M--

Net cash from operating activities ----------------------------------------------------------------10.37M--37.45M261.35%13.57M63.78%-14.43M206.38%70.97M-- Net cash from investing activities ----------------------------------------------------------------1.90M--1.58M16.98%3.59M127.49%27.79M673.58%-8.46M-- Net cash from financing activities -----------------------------------------------------------------63.26M---13.62M78.46%-308.00K97.74%-13.70M4346.43%-48.27M-- Net change in cash -----------------------------------------------------------------50.99M--25.41M149.83%16.85M33.68%-340.00K102.02%14.24M--