FRONTAGE 01521·

Gross margin ----39.66%--44.25%4.59%40.78%3.46%--------36.16%--35.63%0.54%30.17%5.46%27.39%2.78%26.96%0.43% Net margin ----13.66%--14.47%0.81%13.52%0.95%--------10.26%--10.35%0.09%4.13%6.22%0.24%3.89%2.63%2.39% ROE ----35.39%--33.64%1.75%25.76%7.87%--------5.76%--7.73%1.96%3.16%4.57%0.24%2.92%1.96%1.72% ROA ----15.59%--17.77%2.19%14.51%3.26%--------3.98%--4.70%0.73%1.88%2.83%0.11%1.76%1.25%1.14% Revenue growth --------44.41%--18.32%26.09%------------48.28%--5.55%42.73%-0.44%5.99%-1.54%1.10% Attributable profit growth --------52.95%--10.59%42.36%------------52.55%---57.29%109.84%-92.57%35.28%739.72%832.29% Debt-to-assets ----55.95%--47.16%8.79%43.67%3.49%--------32.10%--39.00%6.90%39.65%0.64%39.62%0.03%35.67%3.95% Current ratio ----1.11--1.550.431.490.06--------2.89--1.761.131.420.341.230.191.330.10 Operating cash flow / net profit ----1.41--0.660.742.021.35--------2.35--2.410.063.701.2965.6561.956.5059.16 Operating cash flow / revenue ----19.21%--9.62%9.59%27.26%17.64%--------24.15%--24.94%0.79%15.29%9.65%15.94%0.65%17.11%1.17%

Gross margin 27.90%--25.57%2.32% Net margin 2.31%--4.58%2.27% Revenue growth ----17.07%-- Attributable profit growth ----130.78%-- Debt-to-assets ----38.63%-- Current ratio ----2.46-- Operating cash flow / net profit 6.42--3.782.64 Operating cash flow / revenue 14.82%--17.32%2.49%

Revenue ----48.64M--70.25M44.41%83.11M18.32%--------1.18B--1.74B48.28%1.84B5.55%1.83B0.44%1.80B1.54% Other income and gains ----312.00K--244.00K21.79%467.00K91.39%--------29.08M--28.95M0.44%33.89M17.06%30.91M8.79%19.52M36.85% Cost of sales ----29.35M--39.16M33.42%49.22M25.67%---------------------------- Gross profit ----19.29M--31.08M61.13%33.90M9.06%--------425.27M--621.20M46.07%555.24M10.62%501.83M9.62%486.39M3.08% Selling and distribution expenses ----1.89M--1.57M17.16%2.58M64.75%--------36.46M--50.12M37.45%57.92M15.56%61.02M5.36%53.81M11.83% Administrative expenses ----6.52M--8.29M27.03%10.37M25.14%--------208.60M--309.46M48.35%315.55M1.97%338.21M7.18%275.74M18.47% Net finance costs ----272.00K--315.00K15.81%378.00K20.00%--------16.44M--27.50M67.22%50.09M82.17%68.75M37.26%53.09M22.78% Income tax ----3.13M--5.97M90.40%2.85M52.20%--------39.17M--71.01M81.28%27.26M61.61%15.28M43.97%33.91M122.02% Operating profit ----10.07M--17.79M76.61%14.13M20.55%--------176.20M--277.10M57.27%152.19M45.08%86.62M43.08%132.55M53.02% Share of associates and JVs ----568.00K---1.34M336.80%336.00K124.98%--------57.38K--1.79M3019.31%1.15M35.90%1.85M61.64%1.98M6.88% Profit before tax ----10.37M--16.13M55.56%14.09M12.64%--------159.81M--251.39M57.30%103.24M58.93%19.72M80.89%81.44M312.89% Net profit ----6.65M--10.16M52.95%11.24M10.59%--------120.64M--180.38M49.52%75.98M57.88%4.45M94.14%47.53M968.15% Net profit attributable to owners ----6.65M--10.16M52.95%11.24M10.59%--------117.49M--179.23M52.55%76.55M57.29%5.69M92.57%47.75M739.72%

Revenue 126.58M--148.19M17.07% Other income and gains 1.36M--1.83M34.85% Cost of sales 91.27M--110.30M20.85% Gross profit 35.31M--37.90M7.32% Selling and distribution expenses 4.28M--3.96M7.56% Administrative expenses 20.82M--18.91M9.18% Net finance costs 4.21M--3.49M17.25% Income tax 2.18M--2.67M22.34% Share of associates and JVs 85.00K--111.00K30.59% Profit before tax 5.11M--9.46M85.24% Net profit 2.92M--6.79M132.23% Net profit attributable to owners 2.93M--6.75M130.78%

Cash and cash equivalents ----3.25M--4.34M33.34%16.31M275.80%--------922.11M--608.94M33.96%376.70M38.14%316.94M15.86%255.14M19.50% Trade and bills receivables ----8.34M--13.16M57.73%19.46M47.83%--------271.24M--401.15M47.89%434.37M8.28%496.65M14.34%507.52M2.19% Inventories ----0--0--73.00K----------6.03M--22.18M267.78%19.84M10.57%20.67M4.21%20.94M1.28% Total current assets ----17.54M--30.33M72.96%44.19M45.68%--------1.35B--1.20B11.07%1.00B16.22%990.08M1.25%971.14M1.91% Total assets ----42.64M--57.19M34.13%77.46M35.45%--------3.03B--3.83B26.40%4.05B5.63%3.98B1.75%3.80B4.44% Total current liabilities ----15.76M--19.60M24.36%29.73M51.69%--------465.38M--678.85M45.87%705.30M3.90%801.79M13.68%727.45M9.27% Total liabilities ----23.86M--26.97M13.05%33.83M25.43%--------973.94M--1.50B53.56%1.61B7.37%1.58B1.82%1.36B13.97% Equity attributable to owners ----18.78M--30.22M60.91%43.63M44.39%--------2.04B--2.32B13.76%2.43B4.57%2.39B1.32%2.44B1.83% Total equity ----18.78M--30.22M60.91%43.63M44.39%--------2.06B--2.34B13.55%2.44B4.51%2.40B1.71%2.45B1.81%

Cash and cash equivalents ----34.55M-- Trade and bills receivables ----85.05M-- Inventories ----8.98M-- Total current assets ----412.84M-- Total assets ----580.47M-- Total current liabilities ----167.63M-- Total liabilities ----224.25M-- Equity attributable to owners ----354.89M-- Total equity ----356.23M--

Net cash from operating activities ----9.35M--6.76M27.67%22.66M235.23%--------284.03M--434.88M53.11%281.47M35.28%292.12M3.79%308.75M5.69% Net cash from investing activities -----7.39M---7.04M4.79%-11.44M62.48%---------685.02M---1.03B50.38%-620.63M39.75%-298.19M51.95%-97.32M67.36% Net cash from financing activities -----2.11M--1.07M150.52%1.33M24.44%---------35.35M--213.53M704.09%91.44M57.18%-73.44M180.32%-262.61M257.57% Net change in cash -------------------------436.34M---381.72M12.52%-247.72M35.10%-79.51M67.90%-51.18M35.63%

Net cash from operating activities 18.76M--25.66M36.75% Net cash from investing activities -3.55M---39.97M1025.65% Net cash from financing activities -25.20M--11.77M146.69% Net change in cash -9.99M---2.55M74.51%