CHANGYOU INT GP 01039·

Gross margin 28.37%--28.54%0.17%31.43%2.89%--------------------------------------------11.10%--13.15%2.05%17.32%4.17%21.73%4.41%22.83%1.10% Net margin 23.92%--21.92%2.00%20.32%1.60%---------------------------------------------109.33%---22.67%86.66%-17.03%5.64%-10.05%6.98%-5.19%4.86% ROE 32.76%--32.49%0.27%31.03%1.46%---------------------------------------------15.90%---12.79%3.11%-16.01%3.22%-8.39%7.62%-7.33%1.06% ROA 14.01%--15.90%1.89%16.17%0.27%---------------------------------------------65.37%---31.57%33.80%-25.82%5.75%-13.08%12.74%-6.70%6.39% Revenue growth ----136.51%--91.74%44.76%------------------------------------------------88.28%--5.45%82.83%-20.31%25.75%6.30%26.60% Attributable profit growth ----116.75%--77.76%38.99%------------------------------------------------29.80%---8.17%37.97%48.04%56.21%17.59%30.46% Debt-to-assets 57.22%--51.06%6.17%47.87%3.19%--------------------------------------------132.57%--175.00%42.43%202.52%27.52%211.19%8.67%208.44%2.75% Current ratio 1.15--1.140.011.370.23--------------------------------------------1.33--0.560.770.480.070.710.221.080.37 Operating cash flow / net profit -0.00--0.340.34-0.370.71--------------------------------------------0.83--0.140.68-0.180.321.011.19-3.224.23 Operating cash flow / revenue -0.02%--7.52%7.55%-7.54%15.07%---------------------------------------------90.53%---3.26%87.27%3.05%6.30%-10.18%13.23%16.70%26.88%

Gross margin 21.72%--25.62%3.89% Net margin -4.19%--4.84%9.03% Revenue growth -----14.57%-- Attributable profit growth ----1.48%-- Debt-to-assets ----206.62%-- Current ratio ----0.59-- Operating cash flow / net profit -4.98--2.607.59 Operating cash flow / revenue 20.89%--12.61%8.28%

Revenue 176.67M--417.83M136.51%801.15M91.74%--------------------------------------------114.21M--215.04M88.28%226.75M5.45%180.71M20.31%192.09M6.30% Other income and gains 3.74M--9.78M161.27%5.08M48.09%---------------------------------------------------------------- Cost of sales 126.55M--298.60M135.95%549.37M83.99%---------------------------------------------------------------- Gross profit 50.12M--119.23M137.91%251.78M111.16%--------------------------------------------12.67M--28.27M123.09%39.27M38.91%39.27M0.01%43.85M11.66% Selling and distribution expenses 2.15M--7.76M260.61%17.57M126.33%--------------------------------------------24.22M--6.08M74.91%5.34M12.06%3.94M26.33%4.46M13.29% Administrative expenses 5.99M--17.34M189.34%27.13M56.44%--------------------------------------------51.94M--32.17M38.05%30.68M4.65%30.99M1.01%25.93M16.31% Net finance costs 2.93M--7.75M164.06%12.70M63.98%--------------------------------------------20.43M--33.28M62.92%34.35M3.22%20.81M39.41%16.63M20.11% Income tax 0--1.59M--28.13M1665.73%--------------------------------------------------------5.16M--4.00M22.51% Operating profit 45.19M--100.92M123.32%203.61M101.77%---------------------------------------------103.70M---15.34M85.20%-3.90M74.60%-2.41M38.05%10.69M542.67% Profit before tax 42.26M--93.17M120.49%190.91M104.91%---------------------------------------------124.86M---48.74M60.96%-38.62M20.77%-23.33M39.59%-5.97M74.40% Net profit 42.26M--91.58M116.72%162.78M77.76%---------------------------------------------124.86M---48.74M60.96%-38.62M20.77%-18.16M52.96%-9.97M45.11% Net profit attributable to owners 42.25M--91.58M116.75%162.78M77.76%---------------------------------------------49.47M---34.73M29.80%-37.56M8.17%-19.52M48.04%-16.08M17.59%

Revenue 90.37M--77.20M14.57% Other income and gains -50.00K--182.00K464.00% Cost of sales 70.74M--57.43M18.82% Gross profit 19.63M--19.78M0.74% Selling and distribution expenses 1.94M--1.95M0.62% Administrative expenses 9.83M--9.52M3.14% Net finance costs 5.31M--977.00K81.61% Income tax 2.83M--955.00K66.29% Operating profit 4.38M--5.79M32.30% Profit before tax -955.00K--4.69M591.31% Net profit -3.79M--3.74M198.65% Net profit attributable to owners -4.66M---4.59M1.48%

Cash and cash equivalents 4.85M--18.32M278.15%24.45M33.41%--------------------------------------------50.43M--32.97M34.61%25.41M22.92%8.23M67.62%33.64M308.71% Trade and bills receivables 89.93M--150.26M67.08%379.48M152.55%--------------------------------------------134.15M--114.78M14.44%120.25M4.77%122.69M2.02%112.45M8.35% Inventories 58.19M--143.57M146.73%194.72M35.62%--------------------------------------------633.00K--163.00K74.25%87.00K46.63%28.00K67.82%28.00K0.00% Total current assets 179.95M--322.72M79.34%630.62M95.41%--------------------------------------------186.12M--148.57M20.18%146.05M1.69%131.15M10.21%146.28M11.54% Total assets 301.54M--575.93M91.00%1.01B74.75%--------------------------------------------191.01M--154.41M19.16%149.55M3.15%138.82M7.17%148.84M7.21% Total current liabilities 156.65M--283.14M80.75%460.87M62.77%--------------------------------------------140.10M--267.55M90.97%301.65M12.75%185.14M38.63%135.43M26.85% Total liabilities 172.55M--294.05M70.41%481.75M63.84%--------------------------------------------253.23M--270.21M6.71%302.87M12.09%293.19M3.20%310.24M5.82% Equity attributable to owners 128.99M--281.89M118.54%524.67M86.13%--------------------------------------------311.12M--271.55M12.72%234.69M13.57%232.70M0.85%219.54M5.65% Total equity 128.99M--281.89M118.54%524.67M86.13%---------------------------------------------62.22M---115.80M86.13%-153.32M32.40%-154.36M0.68%-161.40M4.56%

Cash and cash equivalents ----38.94M-- Trade and bills receivables ----109.04M-- Inventories ----28.00K-- Total current assets ----148.08M-- Total assets ----149.06M-- Total current liabilities ----249.74M-- Total liabilities ----307.98M-- Equity attributable to owners ----213.70M-- Total equity -----158.92M--

Net cash from operating activities -42.00K--31.44M74950.00%-60.42M292.19%---------------------------------------------103.39M---7.01M93.22%6.91M198.57%-18.39M366.32%32.08M274.41% Net cash from investing activities -121.54M---131.11M7.88%-158.80M21.12%---------------------------------------------530.00K---527.00K0.57%-157.00K70.21%-552.00K251.59%-439.00K20.47% Net cash from financing activities 117.25M--113.15M3.49%225.35M99.15%--------------------------------------------3.82M---11.09M390.06%-14.40M29.91%1.72M111.94%-6.20M460.79% Net change in cash -4.33M--13.48M411.08%6.12M54.57%---------------------------------------------100.10M---18.62M81.40%-7.65M58.90%-17.23M125.14%25.44M247.67%

Net cash from operating activities 18.88M--9.73M48.43% Net cash from investing activities -43.00K--21.00K148.84% Net cash from financing activities -477.00K---4.43M829.14% Net change in cash 18.36M--5.32M71.00%