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Document No. 11: Report on the Estimated Annual Routine Related-Party Transactions for 2006

Document No. 11 of the 2005 Annual General Meeting

Regarding the Company’s Routine Related-Party Transactions for the Year 2005
Report on the Estimated Routine Related-Party Transactions for the Year 2006

Dear Shareholders:
In accordance with the relevant provisions of the Shenzhen Stock Exchange Rules for the Listing of Stocks, a listed company shall, no later than the date of disclosure of its annual report for the preceding year, make a reasonable estimate of the total amount of similar routine related-party transactions incurred throughout the year, based on the relevant underlying items, and shall, in accordance with the estimated result, fulfill the corresponding disclosure and deliberation procedures.
In 2005, the total amount of routine related-party transactions between the Company and its affiliates was RMB 629.84 million, representing 114.52% of the projected annual amount for 2005. Specifically, purchases from affiliates of complete sets of project-supporting products totaled RMB 443.70 million, or 110.93% of the projected annual amount; and sales to affiliates of supporting components amounted to RMB 186.14 million, or 124.09% of the projected annual amount.
The actual amount significantly exceeds the projected figure for 2005, primarily due to the following two factors: first, the company intensified its technological upgrading efforts in 2005, with the relevant specialized equipment being imported through Dalian Bingshan Group Import-Export Co., Ltd.; second, in order to proactively address the substantial increase in raw material prices, the company centralized the procurement of raw materials through Dalian Bingshan Group Materials Trading Co., Ltd., thereby reducing procurement costs.
Based on the 2005 routine related-party transactions, the Company expects the total amount of such transactions for the full year 2006 to be approximately RMB 650 million, of which about RMB 450 million will be spent on procuring complete sets of project-supporting products from related parties and about RMB 200 million will be generated from sales of supporting components to related parties.
Please review the above report.

May 30, 2006