FULU HOLDINGS 02101·

Gross margin 76.23%--76.00%0.23%79.99%3.99%----73.94%--74.86%0.92%74.26%0.60%70.66%3.61%78.19%7.54% Net margin 32.00%--30.01%1.99%33.32%3.31%----17.09%--18.91%1.82%14.30%4.61%5.39%8.90%6.01%0.61% ROE 70.19%--33.74%36.44%31.78%1.97%----5.86%--8.04%2.18%7.20%0.84%1.55%5.65%2.24%0.68% ROA ----------------4.95%--5.76%0.81%4.55%1.21%1.10%3.45%1.24%0.14% Revenue growth -----14.30%--15.80%30.09%--------20.18%--16.78%3.40%-35.80%52.58%-8.01%27.79% Attributable profit growth -----19.61%--28.39%48.00%--------43.47%---6.40%49.88%-77.99%71.59%35.40%113.39% Debt-to-assets ----------------15.49%--23.17%7.68%28.67%5.49%27.35%1.31%24.97%2.38% Current ratio 1.50--1.770.272.040.27----6.48--4.182.303.350.833.550.203.920.37 Operating cash flow / net profit -0.30--0.630.930.700.07-----1.82--0.252.06-0.620.8710.5611.1912.141.58 Operating cash flow / revenue -9.63%--19.01%28.64%23.43%4.43%-----31.02%--4.69%35.71%-8.90%13.59%56.98%65.88%72.89%15.91%

Gross margin 73.37%--80.74%7.37% Net margin 18.10%--24.85%6.75% Revenue growth -----28.44%-- Attributable profit growth -----23.47%-- Debt-to-assets ----27.23%-- Current ratio ----3.61-- Operating cash flow / net profit 3.19--1.951.23 Operating cash flow / revenue 57.66%--48.57%9.08%

Revenue 243.76M--208.91M14.30%241.92M15.80%----399.28M--479.86M20.18%560.41M16.78%359.79M35.80%330.96M8.01% Other income and gains 2.81M--4.30M52.77%7.79M81.31%----46.10M--43.52M5.60%37.74M13.27%15.71M58.38%11.39M27.50% Cost of sales 57.94M--50.14M13.45%48.40M3.47%------------------------ Gross profit 185.82M--158.77M14.56%193.52M21.88%----295.24M--359.24M21.67%416.18M15.85%254.22M38.92%258.79M1.80% Selling and distribution expenses 36.70M--25.25M31.20%37.25M47.51%----76.84M--148.63M93.43%173.24M16.55%93.50M46.03%70.28M24.84% Administrative expenses 26.42M--34.37M30.07%47.55M38.35%----141.70M--98.99M30.14%109.21M10.32%97.01M11.17%88.86M8.40% Net finance costs 4.78M--7.05M47.38%7.95M12.75%----660.00K--1.51M128.79%3.56M135.63%3.67M3.23%2.14M41.82% Income tax 15.89M--5.62M64.61%4.73M15.90%----6.97M--4.45M36.24%15.23M242.55%6.62M56.54%22.56M240.70% Operating profit 98.67M--75.37M23.61%93.29M23.78%----75.86M--87.79M15.73%98.92M12.68%29.70M69.97%44.57M50.06% Profit before tax 93.88M--68.32M27.23%85.34M24.92%----75.20M--86.28M14.74%95.36M10.53%26.03M72.71%42.43M63.02% Net profit 78.00M--62.70M19.61%80.61M28.58%----68.22M--90.73M32.99%80.13M11.68%19.41M75.78%19.88M2.41% Net profit attributable to owners 78.13M--62.81M19.61%80.64M28.39%----68.22M--97.88M43.47%91.61M6.40%20.16M77.99%27.30M35.40%

Revenue 157.43M--112.66M28.44% Other income and gains 7.67M--6.34M17.37% Cost of sales 41.92M--21.70M48.24% Gross profit 115.51M--90.96M21.25% Selling and distribution expenses 32.63M--21.23M34.92% Administrative expenses 38.23M--26.71M30.12% Net finance costs 1.54M--549.00K64.47% Income tax 3.53M--7.72M118.91% Operating profit 33.57M--36.27M8.04% Share of associates and JVs 0--319.00K-- Profit before tax 32.02M--35.72M11.54% Net profit 28.50M--28.00M1.75% Net profit attributable to owners 30.14M--23.06M23.47%

Cash and cash equivalents 4.68M--11.98M156.08%8.98M25.00%----209.44M--149.82M28.47%147.35M1.65%310.44M110.69%324.30M4.46% Trade and bills receivables 46.21M--31.84M31.10%53.42M67.80%----276.96M--475.75M71.78%544.15M14.38%493.14M9.37%591.69M19.98% Total current assets 303.56M--395.86M30.40%468.74M18.41%----1.34B--1.49B10.73%1.68B12.62%1.71B1.81%1.56B8.79% Total assets ----------------1.38B--1.58B14.39%1.76B11.88%1.76B0.08%1.60B9.46% Total current liabilities 201.77M--223.37M10.70%229.70M2.84%----207.43M--356.32M71.78%500.30M40.41%480.55M3.95%396.82M17.42% Total liabilities ----------------213.38M--365.10M71.10%505.28M38.40%482.52M4.50%398.80M17.35% Equity attributable to owners 111.32M--186.13M67.21%253.76M36.34%----1.16B--1.22B4.56%1.27B4.53%1.30B2.07%1.22B5.99% Total equity 111.18M--185.88M67.19%253.76M36.52%----1.16B--1.21B3.99%1.26B3.88%1.28B1.92%1.20B6.49%

Cash and cash equivalents ----325.14M-- Trade and bills receivables ----492.43M-- Total current assets ----1.65B-- Total assets ----1.68B-- Total current liabilities ----457.39M-- Total liabilities ----458.66M-- Equity attributable to owners ----1.24B-- Total equity ----1.23B--

Net cash from operating activities -23.49M--39.70M269.05%56.69M42.77%-----123.86M--22.48M118.15%-49.90M321.96%205.00M510.79%241.24M17.68% Net cash from investing activities -2.49M---4.99M100.08%-6.47M29.77%-----19.59M---22.41M14.36%1.52M106.81%-80.79M5397.57%46.10M157.07% Net cash from financing activities 11.88M---27.42M330.87%-53.21M94.08%-----101.32M---59.87M40.91%45.66M176.28%38.49M15.70%-272.70M808.40% Net change in cash -14.10M--7.30M151.76%-2.99M141.01%-----244.78M---59.79M75.57%-2.71M95.46%162.71M6092.93%14.64M91.00%

Net cash from operating activities 90.77M--54.73M39.71% Net cash from investing activities -28.84M---48.48M68.13% Net cash from financing activities -83.39M---4.06M95.14% Net change in cash -21.46M--2.19M110.19%