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Document No. 3: Company’s 2007 Annual Financial Settlement and 2008 Annual Financial Budget Report
Report on the Company’s 2007 Financial Final Accounts and 2008 Financial Budget
Document No. 3 of the 2007 Annual General Meeting
Regarding the Company’s 2007 Annual Financial Settlement
Report on the 2008 Fiscal Budget
Dear Shareholders:
We now submit the Company’s 2007 Annual Financial Statements and the 2008 Financial Budget to the Shareholders’ Meeting for your review and approval.
I. 2007 Financial Final Accounts
According to the audit conducted by Dalian Hualian Certified Public Accountants LLP, the company’s asset status and the performance of its key financial and economic indicators for the year 2007 are as follows:
(1) Company Asset Status
At the end of 2007, the company’s total assets amounted to RMB 258,289 million, comprising current assets of RMB 107,184 million, fixed assets of RMB 39,017 million, long-term equity investments of RMB 97,571 million, and intangible and other assets of RMB 14,517 million.
At the end of 2007, the company’s total liabilities amounted to RMB 914.29 million, comprising RMB 774.15 million in current liabilities and RMB 140.14 million in non-current liabilities.
At the end of 2007, total equity amounted to RMB 166,860 million.
(II) Status of Achievement of the Company’s Key Financial and Economic Indicators
1. Operating revenue reached RMB 16,539.6 million, up 2.27% year on year.
2. Total profit reached RMB 150.37 million, a year-on-year decrease of 4.53%.
3. Net profit reached RMB 142.22 million, a year-on-year decrease of 1.94%.
II. 2008 Fiscal Budget
The company’s 2008 operating plan targets are as follows:
Sales revenue: RMB 160,000 million;
Total profit: RMB 135 million.
The above report is submitted for your review.
May 20, 2008