TIANBAO ENERGY 01671·

Gross margin ----------------------------0.99%--4.84%3.84%5.31%0.47%7.18%1.87%7.74%0.56% Net margin ----------------------------1.05%--2.43%1.37%0.34%2.09%1.39%1.05%1.49%0.11% ROE ----------------------------0.14%--2.50%2.36%0.08%2.42%1.43%1.35%2.59%1.16% ROA ----------------------------0.74%--1.63%0.88%0.25%1.38%1.07%0.82%1.20%0.13% Revenue growth --------------------------------15.59%--10.01%5.58%4.97%5.03%-6.09%11.07% Attributable profit growth ---------1.32%---44.27%42.95%----------------1729.47%---96.73%1826.19%1655.81%1752.54%84.44%1571.38% Debt-to-assets ----------------------------52.81%--56.27%3.46%57.87%1.60%56.51%1.36%51.24%5.27% Current ratio ----1.07--1.560.491.300.27------------0.88--0.730.140.900.160.990.100.920.07 Operating cash flow / net profit ----1.39--1.240.152.521.28------------11.14--2.139.00-13.2415.375.9119.155.980.08 Operating cash flow / revenue ----------------------------11.70%--5.18%6.53%-4.50%9.68%8.19%12.69%8.92%0.74%

Gross margin 8.52%--9.44%0.92% Net margin 3.28%--3.56%0.27% Revenue growth ----3.31%-- Attributable profit growth -----6.77%-- Debt-to-assets ----60.17%-- Current ratio ----1.04-- Operating cash flow / net profit 4.11--3.690.42 Operating cash flow / revenue 13.50%--13.14%0.36%

Revenue ----------------------------617.37M--713.59M15.59%785.00M10.01%824.05M4.97%773.85M6.09% Other income and gains ----------------------------43.18M--29.35M32.03%926.00K96.84%-------- Gross profit ----------------------------6.14M--34.52M462.46%41.69M20.77%59.19M41.96%59.90M1.20% Administrative expenses ----------------------------27.57M--28.56M3.61%25.78M9.73%28.28M9.68%31.21M10.36% Net finance costs ----------------------------13.28M--12.64M4.83%13.31M5.31%17.07M28.26%12.15M28.84% Income tax ----------------------------2.54M--5.77M127.73%702.00K87.84%4.33M516.24%5.65M30.70% Operating profit ----------------------------21.75M--35.29M62.25%16.10M54.39%32.66M102.88%29.18M10.63% Profit before tax ----------------------------9.02M--23.08M155.82%3.37M85.39%15.74M366.87%17.19M9.20% Net profit ----55.04M--54.32M1.32%30.27M44.27%------------6.49M--17.31M166.80%2.67M84.58%11.42M327.60%11.54M1.06% Net profit attributable to owners ----------------------------431.00K--7.88M1729.47%258.00K96.73%4.53M1655.81%8.36M84.44%

Revenue 379.08M--391.62M3.31% Other income and gains 810.00K--768.00K5.19% Cost of sales 346.79M--354.67M2.27% Gross profit 32.29M--36.95M14.44% Administrative expenses 11.18M--13.73M22.81% Net finance costs 6.34M--5.39M14.97% Income tax 3.25M--4.72M44.88% Operating profit 21.92M--23.99M9.45% Profit before tax 15.71M--18.65M18.74% Net profit 12.45M--13.93M11.90% Net profit attributable to owners 9.89M--9.22M6.77%

Cash and cash equivalents ----65.59M--94.25M43.70%116.07M23.15%------------186.14M--153.31M17.64%144.31M5.87%128.79M10.75%71.55M44.45% Trade and bills receivables ----33.59M--37.48M11.58%41.91M11.83%------------55.34M--97.95M77.00%113.33M15.70%126.35M11.49%126.25M0.08% Inventories ----8.22M--7.65M6.90%6.36M16.82%------------10.07M--8.65M14.09%5.42M37.32%720.00K86.72%914.00K26.94% Total current assets ----125.27M--140.12M11.86%186.53M33.13%------------278.79M--321.61M15.36%351.06M9.16%331.59M5.55%263.28M20.60% Total assets ----------------------------873.55M--1.06B21.85%1.09B2.32%1.07B1.68%962.84M10.08% Total current liabilities ----117.43M--89.78M23.55%144.00M60.39%------------318.46M--438.02M37.54%392.15M10.47%334.77M14.63%285.85M14.61% Total liabilities ----------------------------461.33M--598.95M29.83%630.30M5.23%605.13M3.99%493.40M18.46% Equity attributable to owners ----------------------------307.12M--315.39M2.70%311.81M1.14%316.35M1.45%322.46M1.93% Total equity ----394.19M--214.53M45.58%244.81M14.11%------------412.22M--465.46M12.91%458.79M1.43%465.64M1.49%469.44M0.82%

Cash and cash equivalents ----69.87M-- Trade and bills receivables ----132.35M-- Inventories ----1.13M-- Total current assets ----261.31M-- Total assets ----935.65M-- Total current liabilities ----250.39M-- Total liabilities ----562.97M-- Equity attributable to owners ----330.43M-- Total equity ----372.68M--

Net cash from operating activities ----76.35M--67.28M11.88%76.20M13.26%------------72.25M--36.95M48.86%-35.34M195.65%67.46M290.87%69.05M2.36% Net cash from investing activities -----33.80M---13.32M60.59%3.95M129.63%-------------2.36M---123.74M5140.96%-74.28M39.97%-44.51M40.08%-12.88M71.06% Net cash from financing activities -----167.27M---25.30M84.88%-58.33M130.57%-------------10.26M--52.78M614.45%100.45M90.32%-38.66M138.48%-113.56M193.75% Net change in cash -----124.72M--28.66M122.98%21.82M23.86%------------59.63M---34.01M157.02%-9.17M73.05%-15.71M71.35%-57.39M265.40%

Net cash from operating activities 51.18M--51.45M0.52% Net cash from investing activities -3.52M---106.90M2932.68% Net cash from financing activities -63.08M--53.94M185.50% Net change in cash -14.79M---1.51M89.77%