GILSTON GROUP 02011·

Gross margin 41.32%--42.40%1.08%40.53%1.87%--------------------------------------------30.00%--32.34%2.34%41.47%9.13%52.65%11.18%54.53%1.89% Net margin 29.90%---1.76%31.66%25.06%26.82%---------------------------------------------7.05%--0.31%7.36%-29.96%30.27%9.87%39.83%7.90%1.97% ROE 58.81%--0.62%58.19%38.48%37.87%---------------------------------------------12.35%---1.02%11.33%-55.96%54.94%17.86%73.82%11.07%6.79% ROA 21.15%---1.29%22.44%24.27%25.56%---------------------------------------------6.13%--0.22%6.35%-28.72%28.93%5.96%34.68%4.98%0.98% Revenue growth ----28.20%--36.90%8.70%-------------------------------------------------1.75%--25.44%27.18%27.81%2.37%12.08%15.72% Attributable profit growth -----98.80%--11871.15%11969.95%------------------------------------------------88.21%---3609.95%3698.17%147.81%3757.76%-28.09%175.89% Debt-to-assets 64.03%--68.21%4.18%39.46%28.75%--------------------------------------------40.25%--32.48%7.77%52.01%19.53%65.10%13.09%64.31%0.79% Current ratio 0.92--0.620.301.110.49--------------------------------------------1.88--2.360.482.240.121.320.921.050.26 Operating cash flow / net profit 0.85---16.2217.071.2117.43---------------------------------------------2.10--23.7925.89-0.0223.800.950.974.133.18 Operating cash flow / revenue 25.56%--28.59%3.04%30.28%1.69%--------------------------------------------14.84%--7.26%7.58%0.49%6.77%9.37%8.88%32.60%23.23%

Gross margin 51.05%--57.55%6.50% Net margin 15.87%--18.85%2.98% Revenue growth -----5.85%-- Attributable profit growth ----8.37%-- Debt-to-assets ----57.90%-- Current ratio ----1.31--

Revenue 91.58M--117.40M28.20%160.71M36.90%--------------------------------------------195.99M--192.57M1.75%241.55M25.44%308.72M27.81%346.02M12.08% Other income and gains ---------------------------------------------------------2.85M--13.32M567.04%-4.05M130.39%14.94M469.25%4.86M67.50% Cost of sales 53.73M--67.62M25.85%95.58M41.34%---------------------------------------------------------------- Gross profit 37.84M--49.77M31.53%65.13M30.85%--------------------------------------------58.80M--62.27M5.91%100.17M60.87%162.53M62.25%188.70M16.10% Selling and distribution expenses 629.00K--490.00K22.10%370.00K24.49%--------------------------------------------14.23M--11.65M18.13%21.00M80.22%21.76M3.65%27.86M28.02% Administrative expenses 7.36M--7.42M0.77%7.45M0.39%--------------------------------------------52.44M--60.17M14.72%84.95M41.19%93.60M10.18%116.81M24.80% Net finance costs 0--913.00K--1.89M106.46%--------------------------------------------3.04M--3.44M13.10%2.92M15.07%3.47M18.92%7.67M120.78% Income tax 1.48M--4.60M210.67%3.98M13.52%--------------------------------------------25.35K--101.83K301.78%8.40M8146.80%28.50M239.42%13.17M53.80% Operating profit 28.86M--3.44M88.07%46.14M1239.69%---------------------------------------------10.81M--3.93M136.32%-61.06M1655.29%62.45M202.28%48.18M22.86% Profit before tax 28.86M--2.53M91.23%44.25M1648.48%---------------------------------------------13.85M--485.94K103.51%-63.98M13266.46%58.97M192.18%40.50M31.32% Net profit 27.38M---2.07M107.56%40.27M2045.65%---------------------------------------------13.83M--587.77K104.25%-72.38M12414.12%30.47M142.10%27.34M10.29% Net profit attributable to owners 25.99M--312.00K98.80%37.35M11871.15%---------------------------------------------14.31M---1.69M88.21%-62.57M3609.95%29.91M147.81%21.51M28.09%

Revenue 194.62M--183.22M5.85% Other income and gains 3.23M---375.00K111.60% Cost of sales 95.27M--77.77M18.36% Gross profit 99.35M--105.45M6.14% Selling and distribution expenses 13.35M--9.28M30.50% Administrative expenses 56.20M--61.38M9.22% Net finance costs 4.34M--3.58M17.51% Income tax 2.19M--12.91M489.99% Profit before tax 28.69M--47.45M65.35% Net profit 30.88M--34.54M11.83% Net profit attributable to owners 26.37M--28.58M8.37%

Cash and cash equivalents 22.76M--19.35M15.00%23.49M21.42%--------------------------------------------48.95M--94.03M92.10%57.39M38.96%131.02M128.28%83.38M36.36% Trade and bills receivables 20.53M--22.10M7.64%29.69M34.34%--------------------------------------------42.40M--39.08M7.83%94.02M140.56%62.09M33.96%48.79M21.43% Inventories 13.31M--16.28M22.37%15.43M5.23%--------------------------------------------25.20M--29.95M18.82%24.55M18.03%33.70M37.28%8.97M73.37% Total current assets 76.40M--66.73M12.66%71.87M7.70%--------------------------------------------116.65M--163.06M39.79%176.48M8.23%228.65M29.56%258.85M13.21% Total assets 129.48M--160.59M24.03%165.96M3.34%--------------------------------------------225.48M--273.08M21.11%252.02M7.71%510.98M102.75%548.51M7.35% Total current liabilities 82.90M--107.50M29.68%64.86M39.66%--------------------------------------------62.16M--69.24M11.39%78.90M13.96%173.83M120.31%246.28M41.68% Total liabilities 82.90M--109.54M32.14%65.49M40.21%--------------------------------------------90.76M--88.70M2.28%131.08M47.78%332.63M153.76%352.75M6.05% Equity attributable to owners 44.19M--50.58M14.46%97.06M91.88%--------------------------------------------115.83M--165.18M42.61%111.81M32.31%167.49M49.80%194.34M16.03% Total equity 46.58M--51.05M9.61%100.47M96.79%--------------------------------------------134.71M--184.38M36.87%120.94M34.41%178.35M47.46%195.76M9.76%

Cash and cash equivalents ----170.64M-- Trade and bills receivables ----75.26M-- Inventories ----10.97M-- Total current assets ----283.75M-- Total assets ----608.82M-- Total current liabilities ----217.38M-- Total liabilities ----352.53M-- Equity attributable to owners ----255.10M-- Total equity ----256.29M--

Net cash from operating activities 23.40M--33.57M43.44%48.67M44.99%--------------------------------------------29.09M--13.98M51.95%1.18M91.59%28.92M2360.92%112.81M290.03% Net cash from investing activities -35.98M---45.82M27.34%4.61M110.06%---------------------------------------------14.92M---12.20M18.27%-7.58M37.88%37.19M590.89%-103.90M379.38% Net cash from financing activities 18.50M--17.39M6.01%-34.63M299.14%---------------------------------------------17.01M--45.14M365.30%-30.25M167.02%11.41M137.73%-49.01M529.39% Net change in cash 15.29M---4.47M129.25%4.12M192.04%---------------------------------------------2.84M--46.92M1751.12%-36.65M178.11%77.53M311.52%-40.09M151.72%