YOURAN DAIRY 09858·

Gross margin ----9.44%--9.01%0.42%7.49%1.52%30.59%23.10%23.40%7.19%23.91%0.51%28.78%4.87%29.79%1.02% Net margin -----16.47%---78.59%62.12%2.79%81.38%13.17%10.38%2.25%10.92%-7.77%10.02%-4.29%3.49%-2.11%2.18% ROE -----23.34%--519.82%543.16%2.67%517.15%11.82%9.15%3.17%8.65%-8.88%12.05%-6.12%2.76%-3.94%2.18% ROA -----4.39%---32.22%27.83%1.20%33.42%6.32%5.13%0.93%5.39%-3.14%4.08%-1.97%1.17%-1.03%0.95% Revenue growth --------16.05%--6.76%9.29%1193.38%1186.62%17.62%1175.75%3.56%14.06%7.50%3.94%2.77%4.73% Attributable profit growth ---------453.66%--103.79%557.45%4608.42%4504.63%-73.38%4681.80%-353.15%279.77%34.20%387.35%37.42%3.22% Debt-to-assets ----81.19%--106.20%25.00%55.11%51.09%53.44%1.66%66.05%12.60%71.65%5.60%72.15%0.50%72.05%0.09% Current ratio ----1.01--0.340.670.730.380.660.070.580.080.550.040.400.150.430.03 Operating cash flow / net profit -----0.47---0.180.296.086.271.124.966.285.15-3.029.30-6.783.76-13.666.88 Operating cash flow / revenue ----7.79%--14.53%6.74%16.96%2.43%14.77%2.19%14.11%0.65%23.48%9.37%29.05%5.57%28.79%0.27%

Gross margin 30.01%--29.65%0.36% Net margin -2.40%--7.95%10.36% Revenue growth ----3.33%-- Attributable profit growth ----371.78%-- Debt-to-assets ----64.05%-- Current ratio ----0.43-- Operating cash flow / net profit -11.61--4.0415.65 Operating cash flow / revenue 27.89%--32.12%4.22%

Revenue ----957.65M--1.11B16.05%1.19B6.76%15.35B1193.38%18.05B17.62%18.69B3.56%20.10B7.50%20.65B2.77% Other income and gains --------117.52M--207.94M76.95%151.97M26.92%362.89M138.78%453.82M25.06%549.37M21.05%429.17M21.88% Cost of sales ----867.28M--1.01B16.59%1.10B8.55%-------------------- Gross profit ----90.37M--100.18M10.86%88.92M11.24%4.69B5179.50%4.22B10.03%4.47B5.83%5.78B29.38%6.15B6.41% Selling and distribution expenses --------69.34M--50.76M26.79%556.70M996.66%590.02M5.98%619.57M5.01%632.29M2.05%638.15M0.93% Administrative expenses --------60.62M--60.41M0.35%835.40M1282.90%721.53M13.63%778.15M7.85%806.68M3.67%854.55M5.93% Net finance costs ----53.26M--50.08M5.98%48.20M3.75%732.44M1419.56%1.10B49.84%1.08B1.36%903.49M16.54%817.81M9.48% Income tax ----113.05M--8.92M92.11%0100.00%74.12M--69.28M6.52%93.39M34.79%87.02M6.82%57.57M33.85% Operating profit -----217.53M---814.38M274.37%81.29M109.98%2.83B3378.56%1.61B43.13%-149.81M109.32%209.68M239.96%519.90M147.95% Share of associates and JVs ----------------23.00K---35.53M154565.22%-127.10M257.76%-80.66M36.54%-79.82M1.03% Profit before tax -----270.80M---864.46M219.23%33.09M103.83%2.10B6232.22%475.27M77.32%-1.36B386.05%-774.47M43.03%-377.74M51.23% Net profit -----157.75M---873.39M453.66%33.09M103.79%2.02B6008.24%405.99M79.91%-1.45B457.87%-861.49M40.71%-435.30M49.47% Net profit attributable to owners ----------------1.56B--414.77M73.38%-1.05B353.15%-690.89M34.20%-432.39M37.42%

Revenue 10.28B--10.63B3.33% Other income and gains 153.11M--193.34M26.27% Cost of sales 9.68B--10.04B3.72% Gross profit 3.09B--3.15B2.08% Selling and distribution expenses 304.27M--319.50M5.00% Administrative expenses 402.05M--423.95M5.45% Net finance costs 394.50M--273.99M30.55% Income tax 32.80M--39.57M20.64% Share of associates and JVs -34.51M---22.30M35.37% Profit before tax -214.32M--884.73M512.80% Net profit -247.13M--845.16M442.00% Net profit attributable to owners -296.57M--806.03M371.78%

Cash and cash equivalents ----18.32M--14.40M21.40%67.62M369.62%--------3.94B--829.31M78.93%1.20B44.36% Trade and bills receivables ----99.81M--121.66M21.90%122.36M0.57%1.19B871.93%1.31B10.33%792.07M39.63%691.64M12.68%660.45M4.51% Inventories ----186.68M--180.29M3.42%197.35M9.46%3.33B1585.39%4.69B41.09%4.50B4.00%4.31B4.30%4.00B7.21% Total current assets ----421.65M--381.36M9.56%567.17M48.72%7.45B1214.28%11.57B55.20%11.41B1.41%8.36B26.74%8.71B4.22% Total assets ----3.59B--2.71B24.57%2.76B1.86%31.96B1057.44%43.45B35.93%46.20B6.34%43.66B5.50%42.37B2.95% Total current liabilities ----416.52M--1.11B165.69%778.82M29.62%11.31B1351.94%19.90B75.95%20.91B5.12%21.11B0.93%20.32B3.74% Total liabilities ----2.92B--2.88B1.34%1.52B47.14%17.08B1022.52%28.70B67.99%33.10B15.35%31.50B4.85%30.53B3.07% Equity attributable to owners ----675.92M---168.02M124.86%1.24B837.83%13.18B963.24%13.06B0.89%11.83B9.44%11.30B4.53%10.98B2.79% Total equity ----675.92M---168.02M124.86%1.24B837.83%14.88B1100.29%14.75B0.87%13.10B11.20%12.16B7.17%11.84B2.61%

Cash and cash equivalents ----1.74B-- Trade and bills receivables ----766.54M-- Inventories ----2.62B-- Total current assets ----7.97B-- Total assets ----41.00B-- Total current liabilities ----18.50B-- Total liabilities ----26.26B-- Equity attributable to owners ----13.84B-- Total equity ----14.74B--

Net cash from operating activities ----74.60M--161.44M116.42%201.22M24.64%2.27B1026.11%2.55B12.43%4.39B72.31%5.84B32.99%5.95B1.84% Net cash from investing activities -----32.19M---98.61M206.38%-127.66M29.46%-8.70B6712.42%-10.78B24.00%-4.34B59.71%-5.60B28.83%-4.04B27.73% Net cash from financing activities -----84.78M---68.78M18.87%-12.22M82.24%5.42B44503.26%8.05B48.44%2.99B62.87%-3.11B204.18%-1.60B48.57% Net change in cash -----42.38M---5.96M85.95%61.34M1130.14%-1.01B1740.93%-184.20M81.70%3.04B1747.98%-2.87B194.67%298.55M110.39%

Net cash from operating activities 2.87B--3.41B18.97% Net cash from investing activities -2.78B---1.15B58.78% Net cash from financing activities -19.16M---1.29B6611.47% Net change in cash 65.53M--979.64M1394.91%