PAGODA GP 02411·

Gross margin 11.24%--11.62%0.38%11.54%0.08%7.44%4.10%7.31%0.13% Net margin 2.15%--2.71%0.55%2.98%0.28%-3.89%6.88%-4.20%0.30% ROE 8.74%--10.94%2.20%11.22%0.27%-14.26%25.47%-11.84%2.42% ROA 3.45%--4.50%1.05%4.48%0.02%-5.11%9.59%-4.51%0.60% Revenue growth ----9.94%--0.69%9.24%-9.81%10.50%-20.43%10.62% Attributable profit growth ----40.35%--11.88%28.47%-206.72%218.60%17.76%224.48% Debt-to-assets 57.74%--55.66%2.08%56.04%0.38%64.06%8.02%63.70%0.37% Current ratio 1.44--1.500.061.500.001.260.241.370.11 Operating cash flow / net profit 1.28--1.920.64-0.142.07-0.410.270.440.85 Operating cash flow / revenue 2.76%--5.21%2.45%-0.43%5.63%1.60%2.03%-1.84%3.44%

Gross margin 4.93%--12.16%7.23% Net margin -8.07%--0.65%8.72% Revenue growth ----14.46%-- Attributable profit growth ----109.81%-- Debt-to-assets ----68.85%-- Current ratio ----1.26-- Operating cash flow / net profit 0.35--3.883.53 Operating cash flow / revenue -2.82%--2.52%5.34%

Revenue 10.29B--11.31B9.94%11.39B0.69%10.27B9.81%8.17B20.43% Other income and gains 34.56M--40.83M18.13%36.83M9.79%46.70M26.81%40.23M13.84% Gross profit 1.16B--1.31B13.65%1.31B0.04%764.35M41.87%597.21M21.87% Selling and distribution expenses 451.73M--498.76M10.41%481.99M3.36%605.10M25.54%535.10M11.57% Administrative expenses 307.06M--321.58M4.73%313.53M2.50%329.62M5.13%203.47M38.27% Net finance costs 78.19M--83.74M7.10%75.80M9.48%99.96M31.87%98.98M0.98% Income tax 36.16M--40.23M11.23%41.04M2.03%8.29M79.79%13.95M68.17% Operating profit 295.14M--385.00M30.44%416.61M8.21%-341.46M181.96%-287.38M15.84% Share of associates and JVs ---------677.00K--5.78M954.06%29.30M406.73% Profit before tax 257.53M--346.36M34.50%381.03M10.01%-391.49M202.75%-328.99M15.97% Net profit 221.36M--306.14M38.30%339.99M11.06%-399.79M217.59%-342.94M14.22% Net profit attributable to owners 230.34M--323.30M40.35%361.72M11.88%-386.03M206.72%-317.49M17.76%

Revenue 4.38B--5.01B14.46% Other income and gains 17.42M--18.62M6.89% Cost of sales 4.16B--4.40B5.75% Gross profit 215.55M--608.86M182.46% Selling and distribution expenses 257.16M--286.49M11.41% Administrative expenses 216.25M--225.70M4.37% Net finance costs 37.18M--31.78M14.52% Income tax 285.00K--1.19M317.19% Operating profit -319.86M--61.43M119.21% Share of associates and JVs 4.07M--4.07M0.10% Profit before tax -352.97M--33.72M109.55% Net profit -353.25M--32.53M109.21% Net profit attributable to owners -342.05M--33.56M109.81%

Cash and cash equivalents 564.67M--1.47B159.61%2.11B44.27%1.76B16.86%1.95B10.70% Trade and bills receivables 1.16B--1.12B3.27%1.06B4.92%965.28M9.23%772.83M19.94% Inventories 246.76M--336.79M36.48%324.87M3.54%330.13M1.62%262.77M20.40% Total current assets 4.41B--4.73B7.37%5.27B11.34%5.50B4.38%5.65B2.82% Total assets 6.42B--6.81B6.07%7.59B11.47%7.82B3.01%7.60B2.76% Total current liabilities 3.06B--3.16B3.22%3.52B11.48%4.36B23.93%4.13B5.19% Total liabilities 3.71B--3.79B2.25%4.25B12.23%5.01B17.76%4.84B3.32% Equity attributable to owners 2.64B--2.95B12.10%3.22B9.15%2.71B16.04%2.68B0.97% Total equity 2.71B--3.02B11.30%3.34B10.52%2.81B15.79%2.76B1.77%

Cash and cash equivalents ----1.97B-- Trade and bills receivables ----845.12M-- Inventories ----282.44M-- Total current assets ----6.56B-- Total assets ----8.53B-- Total current liabilities ----5.20B-- Total liabilities ----5.87B-- Equity attributable to owners ----2.59B-- Total equity ----2.66B--

Net cash from operating activities 283.88M--589.18M107.54%-48.53M108.24%164.58M439.12%-150.08M191.19% Net cash from investing activities -577.90M--619.85M207.26%282.56M54.42%-760.20M369.04%581.61M176.51% Net cash from financing activities 404.05M---307.78M176.17%414.89M234.80%239.09M42.37%-243.21M201.72% Net change in cash 110.03M--901.24M719.09%648.91M28.00%-356.53M154.94%188.32M152.82%

Net cash from operating activities -123.30M--126.10M202.27% Net cash from investing activities 191.40M---4.10M102.14% Net cash from financing activities -8.30M---94.90M1043.37%