NONGFU SPRING 09633·

Gross margin 56.08%--53.34%2.74%55.41%2.08%----59.46%--57.45%2.01%59.55%2.10%58.08%1.46%60.53%2.44% Net margin 19.36%--17.64%1.72%20.62%2.99%----24.12%--25.56%1.44%28.31%2.75%28.26%0.05%30.19%1.93% ROE 30.38%--25.09%5.29%50.08%24.99%----34.53%--35.27%0.74%42.28%7.01%37.55%4.73%40.20%2.66% ROA 20.37%--17.24%3.13%27.84%10.60%----21.77%--21.64%0.13%24.58%2.94%22.81%1.78%24.35%1.54% Revenue growth ----17.06%--17.32%0.26%--------11.93%--28.36%16.43%0.54%27.83%22.51%21.98% Attributable profit growth ----6.68%--37.23%30.55%--------18.62%--42.19%23.57%0.36%41.83%30.89%30.53% Debt-to-assets 32.83%--31.19%1.64%44.47%13.28%----36.95%--38.65%1.70%41.85%3.21%39.26%2.59%39.43%0.17% Current ratio 1.32--1.430.110.590.85----1.54--1.260.281.430.170.950.481.070.12 Operating cash flow / net profit 1.39--1.280.111.510.23----1.59--1.420.171.430.020.910.521.330.42 Operating cash flow / revenue 26.86%--22.61%4.24%31.11%8.49%----38.39%--36.23%2.16%40.56%4.33%25.70%14.86%40.23%14.53%

Gross margin 60.32%--60.90%0.58% Net margin 29.75%--29.90%0.16% Revenue growth ----15.99%-- Attributable profit growth ----16.59%-- Debt-to-assets ----51.30%-- Current ratio ----1.06--

Revenue 17.49B--20.48B17.06%24.02B17.32%----29.70B--33.24B11.93%42.67B28.36%42.90B0.54%52.55B22.51% Other income and gains 402.39M--533.55M32.60%773.96M45.06%----873.56M--1.71B95.65%1.84B7.74%2.13B15.61%1.72B19.21% Cost of sales 7.68B--9.55B24.37%10.71B12.10%------------------------ Gross profit 9.81B--10.92B11.33%13.31B21.88%----17.66B--19.10B8.15%25.41B33.05%24.92B1.93%31.81B27.66% Selling and distribution expenses 4.89B--5.22B6.70%5.82B11.48%----7.23B--7.82B8.12%9.28B18.71%9.17B1.19%9.80B6.84% Administrative expenses 859.49M--1.07B23.93%1.38B29.79%----1.75B--1.84B4.81%2.16B17.83%1.96B9.25%2.45B24.95% Net finance costs 8.38M--4.11M50.92%15.53M277.46%----52.95M--76.03M43.60%99.73M31.18%91.47M8.29%66.90M26.86% Income tax 1.05B--1.15B9.77%1.54B34.13%----2.19B--2.56B16.54%3.61B41.24%3.66B1.55%5.05B37.79% Operating profit 4.44B--4.77B7.29%6.51B36.64%----9.41B--11.13B18.27%15.79B41.90%15.88B0.58%20.98B32.15% Profit before tax 4.43B--4.76B7.40%6.50B36.44%----9.35B--11.05B18.13%15.69B41.97%15.79B0.64%20.92B32.49% Net profit 3.39B--3.61B6.67%4.95B37.17%----7.16B--8.50B18.62%12.08B42.19%12.12B0.36%15.87B30.89% Net profit attributable to owners 3.38B--3.61B6.68%4.95B37.23%----7.16B--8.50B18.62%12.08B42.19%12.12B0.36%15.87B30.89%

Revenue 25.62B--29.72B15.99% Other income and gains 807.55M--856.95M6.12% Cost of sales 10.17B--11.62B14.30% Gross profit 15.46B--18.10B17.09% Selling and distribution expenses 5.01B--5.84B16.62% Administrative expenses 1.07B--1.12B5.36% Net finance costs 24.56M--28.59M16.38% Income tax 2.41B--2.85B18.19% Profit before tax 10.03B--11.74B16.98% Net profit 7.62B--8.89B16.59% Net profit attributable to owners 7.62B--8.89B16.59%

Cash and cash equivalents 2.56B--1.76B31.18%1.08B38.59%----14.78B--15.21B2.89%24.13B58.60%10.72B55.56%11.18B4.25% Trade and bills receivables 194.07M--222.65M14.73%306.00M37.44%----476.28M--478.59M0.49%547.02M14.30%581.37M6.28%598.15M2.89% Inventories 1.44B--1.91B32.16%1.76B7.57%----1.81B--2.11B16.53%3.09B46.64%5.01B62.14%5.85B16.63% Total current assets 6.86B--8.84B28.94%4.37B50.55%----17.84B--18.36B2.95%28.46B55.01%19.07B32.99%26.56B39.28% Total assets 16.62B--20.95B26.03%17.80B15.05%----32.90B--39.25B19.33%49.14B25.17%53.16B8.19%65.17B22.59% Total current liabilities 5.20B--6.16B18.60%7.44B20.74%----11.59B--14.60B25.99%19.88B36.13%19.98B0.54%24.82B24.21% Total liabilities 5.46B--6.53B19.74%7.91B21.13%----12.15B--15.17B24.82%20.57B35.56%20.87B1.49%25.70B23.12% Equity attributable to owners 11.13B--14.37B29.15%9.88B31.24%----20.74B--24.08B16.11%28.57B18.63%32.29B13.01%39.47B22.25% Total equity 11.17B--14.42B29.11%9.88B31.45%----20.74B--24.08B16.11%28.57B18.63%32.29B13.01%39.47B22.25%

Cash and cash equivalents ----21.08B-- Trade and bills receivables ----900.67M-- Inventories ----6.21B-- Total current assets ----40.75B-- Total assets ----76.31B-- Total current liabilities ----38.53B-- Total liabilities ----39.14B-- Equity attributable to owners ----37.17B-- Total equity ----37.17B--

Net cash from operating activities 4.70B--4.63B1.44%7.47B61.39%----11.40B--12.04B5.62%17.30B43.71%11.02B36.31%21.14B91.81% Net cash from investing activities -----------------5.32B---9.43B77.33%-14.28B51.53%-4.50B68.48%-11.49B155.34% Net cash from financing activities -----------------1.89B---5.37B183.60%-7.02B30.77%-8.06B14.81%-8.06B0.04% Net change in cash ----------------4.19B---2.75B165.73%-4.00B45.25%-1.54B61.48%1.59B203.10%