FORTable THEof SIX MONTHS ENDED 30TH JUNE, 2005 2004 Increase/ RMB RMB (decrease) UNAUDITED unaudited Net profit 123,956,551 605,087,927 (79.51%) Net profit before non-operating loss 125,884,635 644,854,087 (80.48%) Earnings per share 0.035 0.17 (79.41%) Return on net assets (%) 2.07% 15.58% (13.51) Net cash flow from operating activities 2,145,757,163 1,478,751,765 45.11% AS AT As at 30TH JUNE, 31st December, 2005 2004 Increase/ RMB RMB (decrease) UNAUDITED audited Current assets 2,198,546,381 3,327,819,333 (33.93%) Current liabilities 5,999,171,982 7,628,841,391 (21.36%) Total assets 12,717,874,138 14,392,756,371 (11.64%) Shareholders' equity (excluding minority interests) 5,977,580,979 5,853,624,428 2.12% Net assets per share 1.68 1.64 2.44% Adjusted net assets per share 1.65 1.61 2.48%Contents

~~FOR~~SECURITIES ~~THE~~AND ~~SIX~~EXCHANGE MONTHS ENDED 30TH JUNE, 2005 2004 RMB'000 RMB'000 UNAUDITED unaudited Profit attributable to equity holders of the Company 128,536 606,354 Earning per share RMB 0.04 RMB 0.17 Return on net assets (%) 2.48% 19.45% AS AT As at 30TH JUNE, 31st December, 2005 2004 RMB'000 RMB'000 UNAUDITED audited Equity 5,204,372 5,069,342 Net assets per share RMB1.46 RMB1.42COMMISSION

~~RETURN ON NET ASSETS (%) PROFIT PER SHARE (RMB) PROFIT FOR THE SIX MONTHS WEIGHTED WEIGHTED ENDED 30TH JUNE~~Washington, ~~2005 FULLY DILUTED AVERAGE FULLY DILUTED AVERAGE Profit from principal operations 9~~D.~~87 9~~C.97 ~~0.1656 0.1656 Operating profit 2.92 2.95 0.0489 0.0489 Net profit 2.07 2.10 0.0348 0.0348 Net profit before non-operating loss 2.11 2.13 0.0354 0.0354~~20549

~~INCREASE/~~FORM (DECREASE) OF SHARES DURING THE NUMBER OF REPORTING PERCENTAGE NAME OF SHAREHOLDERS CLASS SHARES HELD PERIOD OF HOLDING (SHARES) (SHARES) (%) 1. PetroChina Company Limited A shares 2,396,300,000 -- 67.2914 2. HKSCC Nominees Limited H shares 822,166,699 2,322,000 23.0876 3. HSBC Nominees (Hong Kong) Limited H shares 135,627,300 -- 3.8086 4. Qiao Liang A shares 1,450,000 -- 0.0407 5. Zhang Li A shares 1,250,000 220,000 0.0351 6. Huang Sujie A shares 1,150,000 1,150,000 0.0323 7. Zhao Ying A shares 1,060,000 180,000 0.0298 8. Shanghai Shi Hong Development A shares 711,550 711,550 0.0200 Company Limited 9. Tian Qiucheng A shares 706,050 706,050 0.0198 10. Industrial and Commercial Bank of A shares 656,663 170,000 0.0184 China-~~Rongtong Shenzheng 100 Index Securities Investment Fund~~K

~~INCREASE/~~Report ~~(DECREASE)~~of OFForeign ~~SHARES~~Private ~~DURING~~Issuer Pursuant ~~THE~~to NUMBER OF REPORTING PERCENTAGE NAME OF SHAREHOLDERS CLASS SHARES HELD PERIOD OF HOLDING (SHARES) (SHARES) (%) 1. HKSCC Nominees Limited H shares 822,166,699 2,322,000 23.0876 2. HSBC Nominees (Hong Kong) Limited H shares 135,627,300 Rule 13a--16 ~~3.8086~~or ~~3. Qiao Liang A shares 1,450,000~~ 15d--16 0.0407 4. Zhang Li A shares 1,250,000 220,000 0.0351 5. Huang Sujie A shares 1,150,000 1,150,000 0.0323 6. Zhao Ying A shares 1,060,000 180,000 0.0298 7. Shanghai Shi Hong Development A shares 711,550 711,550 0.0200 Company Limited 8. Tian Qiucheng A shares 706,050 706,050 0.0198 9. Industrial and Commercial Bank of the ~~A shares 656,663 170,000 0.0184 China-Rongtong Shenzheng 100 Index~~ Securities ~~Investment~~Exchange ~~Fund~~Act ~~10.~~of ~~Chen Yu A shares 610,000 610,000 0.0171~~1934

For the month of June 2006

Commission File Number: 001-13750

%Jilin OFChemical ~~TOTAL~~Industrial ~~NUMBER~~Company AND % OF TOTAL % OF TOTAL % OF TOTAL ISSUED NAME OF TYPE OF SHARES ISSUED SHARE ISSUED ISSUED UNLISTED SHAREHOLDERS CAPACITY CAPITAL H SHARES A SHARES SHARES PetroChina 2,396,300,000 67.29 -- -- 100% Beneficial owner State-owned legal person shares HKSCC Nominees 822,166,699 23.09 85.22 -- -- Nominee Limited ~~H Shares HSBC Nominees 135,627,300 3.81 14.06 -- -- Nominee (Hong Kong) Limited H Shares~~

~~FOR THE SIX MONTHS ENDED PERCENTAGE OF THE SAME 30TH JUNE 2005 TYPE OF TRANSACTIONS~~ (~~RMB'000)~~Translation ~~% PETROCHINA: Purchase~~ of ~~crude~~registrant’s ~~oil~~name ~~7,381,607~~into 76.52 Purchase of production materials 3,087,316 76.94 Lease of machinery and equipment 15,650 93.62 Production safety insurance funds 16,576 90.23 Sale of gasoline and diesel oil 6,370,666 100 Sale of petrochemical products 5,781,711 46.48 Railway transport and water treatment services 17,093 33.00 JCGC: Sale of products 803,708 4.60 Examination and maintenance services 1,552 1.60 Construction of fixed assets 6,406 12.00 Purchase of production materials and spare parts 55,903 23.80 Welfare and supporting services 42,450 20.80 Operating lease rentals on land & property 3,200 100 CNPC: Interest receivable 205 24.91 Interest payable 58,392 61.56 Purchase of materials 4,883 0.04English)

~~SIX MONTHS ENDED 30TH JUNE~~No. 9, ~~2005~~Longtan ~~2004~~Street Longtan ~~NOTES~~District Jilin ~~RMB RMB TURNOVER 3 17~~City,~~992,634~~ ~~13,729,975~~Jilin ~~Cost~~Province People’s ofRepublic sales (17,508,817) (12,615,949) GROSS PROFIT 483,817 1,114,026 Distribution costs (8,617) (16,076) Administrative expenses (229,788) (306,330) Other operating income/(expenses), net 8,262 (62,364) OPERATING PROFIT 4 253,674 729,256 Interest expense (94,851) (152,934) Interest income 823 585 Exchange loss (29) (3,829) Exchange gain 12,226 6,926 Share of ~~profit of a jointly controlled entity 8,443 12,559 Share of profit of an associated company 2,953 1,005 PROFIT BEFORE TAXATION 183,239 593,568 Taxation 5~~ China (~~48,209)~~Address ~~-- PROFIT FOR THE PERIOD 135,030 593,568 ATTRIBUTABLE TO: Equity holders~~ of ~~the~~principal ~~Company~~executive ~~128,536 606,354 Minority interest 6,494 (12,786~~offices) ~~135,030 593,568 BASIC AND DILUTED EARNINGS PER SHARE FOR PROFIT ATTRIBUTABLE TO THE EQUITY HOLDERS OF THE COMPANY DURING THE PERIOD 6 RMB0.04 RMB0.17 DIVIDEND 7 -- --~~

~~30TH~~Indicate ~~JUNE,~~by ~~31st~~check ~~December,~~mark ~~2005~~whether ~~2004~~the ~~NOTES~~registrant ~~RMB~~files ~~RMB~~or ~~NON-CURRENT~~will ~~ASSETS~~file ~~Property,~~annual ~~plant~~reports ~~and~~under ~~equipment~~cover 8 8,937,297 9,368,990 Interests in a jointly controlled entity 74,278 89,835 Investment in an associated company 12,258 9,305 Intangible assets 8 466,523 515,047 Deferred income tax assets 15 234,993 283,202 9,725,349 10,266,379 CURRENT ASSETS Inventories 9 1,449,954 2,606,053 Accounts receivable 10 317,832 265,245 Prepaid expenses and other current assets 11 390,461 441,891 Cash and cash equivalents 12 40,300 14,629 2,198,547 3,327,818 CURRENT LIABILITIES Accounts payable and accrued liabilities 13 4,633,438 4,429,686 Current income tax liabilities 97,523 113,079 Short-term borrowings 14 1,268,212 3,086,075 5,999,173 7,628,840 NET CURRENT LIABILITIES (3,800,626) (4,301,022) TOTAL ASSETS LESS CURRENT LIABILITIES 5,924,723 5,965,357 EQUITY Equity attributable to equity holders of ~~the Company Share capital 3,561,078 3,561,078 Reserves 2,099,372 2,099,858 Accumulated losses (476,848) (605,870) 5,183,602 5,055,066 Minority interest~~ Form 20~~,770 14,276 Total equity 5,204,372 5,069,342 NON~~-~~CURRENT~~F ~~LIABILITIES~~or ~~Long-term~~Form ~~borrowings 14 720,351 896,015 5,924,723 5,965,357~~40-F.

~~SIX MONTHS ENDED 30TH JUNE, 2005 2004 NOTES RMB RMB CASH FLOWS FROM OPERATING ACTIVITIES Profit for the period 135,030 593,568 Adjustments for: Taxation 5 48,209~~ Form 20--F ~~Depreciation~~þ Form and amortisation 4 540,316 562,937 (Reversal)/provision for impairment of receivables 4 (882) 11,354 (Reversal)/provision for impairment of prepaid expenses and other current assets 4 (18) 11,179 Inventories writedowns 4 40--F 79,169 Provision for impairment of property, plant and equipment 4 -- 19,814 Provision for impairment of intangible assets 4 -- 6,698 Net (profit)/loss on disposal of property, plant and equipment 4 (4,638) 34,158 Share of profit of a jointly controlled entity (8,443) (12,559) Share of profit of an associated company (2,953) (1,005) Interest income (823) (585) Interest expense 94,851 152,934 Changes in working capital: Accounts and other receivables (net) 4,390 (221,291) Inventories 1,156,099 (7,391) Payables and accrued liabilities (net) 199,352 249,185 CASH GENERATED FROM OPERATIONS 2,160,490 1,478,165 Income tax paid (15,556) -- Interest received 823 585 Interest paid (86,133) (182,829) NET CASH PROVIDED BY OPERATING ACTIVITIES 2,059,624 1,295,921 CASH FLOWS FROM INVESTING ACTIVITIES Capital expenditures (69,539) (196,718) Dividends received from a jointly controlled entity 24,000 -- Proceeds from disposal of property, plant and equipment 5,113 1,515 NET CASH USED FOR INVESTING ACTIVITIES (40,426) (195,203) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings 14 2,861,390 4,854,427 Repayments of borrowings 14 (4,854,917) (5,974,366) NET CASH USED FOR FINANCING ACTIVITIES (1,993,527) (1,119,939) Increase/(decrease) in cash and cash equivalents 25,671 (19,221) Cash and cash equivalents at beginning of period 14,629 35,499 Cash and cash equivalents at end of period 40,300 16,278o

~~ATTRIBUTABLE~~Indicate TOby ~~EQUITY~~check ~~HOLDERS~~mark ~~MINORITY~~if TOTAL EQUITY OF THE COMPANY INTEREST SHARE ACCUMULATED CAPITAL LOSSES RESERVES RMB RMB RMB RMB RMB Balance at 1st January, 2004 as previously represented 3,561,078 (3,151,353) 2,100,831 -- 2,510,556 Representation as a result of the ~~adoption~~registrant ofis ~~revised~~submitting ~~IAS 1 and IAS 27 (NOTE 1) -- -- -- 30,800 30,800 Balance at 1st January, 2004 3,561,078 (3,151,353) 2,100,831 30,800 2,541,356 Profit for~~ the ~~period~~Form 6--K ~~606,354~~in --paper ~~(12,786)~~as ~~593,568~~permitted ~~Transfer to accumulated losses on realisation of revaluation reserve~~ by Regulation S--T ~~486~~ Rule 101(~~486~~b) ~~-- -- Balance at 30th June, 2004 3,561,078~~ (~~2,544,513) 2,100,345 18,014 3,134,924 Balance at 1st January, 2005 as previously represented 3,561,078 (605,870) 2,099,858 -- 5,055,066 Representation as a result of the adoption of revised IAS~~ 1 ~~and IAS 27 (NOTE 1~~) -- -- -- 14,276 14,276 Balance at 1st January, 2005 3,561,078 (605,870) 2,099,858 14,276 5,069,342 Profit for the period -- 128,536 -- 6,494 135,030 Transfer to accumulated losses on realisation of revaluation reserve -- 486 (486) -- -- BALANCE AT 30TH JUNE, 2005 3,561,078 (476,848) 2,099,372 20,770 5,204,372:

~~CHEMICAL~~Indicate ~~PETROCHEMICAL~~by ~~FERTILISERS~~check ~~AND~~mark ~~ORGANIC~~if ~~AND~~the ~~SYNTHETIC~~registrant ~~OTHER~~is ~~PETROLEUM~~submitting ~~CHEMICAL~~the ~~INORGANIC~~Form ~~RUBBER~~6-K ~~PRODUCTS~~in ~~PRODUCTS~~paper ~~PRODUCTS~~as ~~PRODUCTS~~permitted ~~PRODUCTS~~by Regulation S-T ~~AND SERVICES TOTAL RMB RMB RMB RMB RMB RMB Revenues 7,263,050 7,943,724 337,620 1,017,254 1,430,986 17,992,634 Segment results~~ Rule 101(~~1,351,841~~b) ~~1,571,834~~ (~~23,606~~7) 145,611 (88,324) 253,674 Finance costs, net (81,831) Share of profit of a jointly controlled entity -- 8,443 -- -- -- 8,443 Share of profit of an associated company -- -- -- -- 2,953 2,953 Profit before taxation 183,239:

~~Chemical~~Indicate ~~Petrochemical~~by ~~fertilisers~~check ~~and~~mark ~~organic~~whether ~~and~~the ~~Synthetic~~registrant ~~Other~~by ~~Petroleum~~furnishing ~~chemical~~the ~~inorganic~~information ~~rubber~~contained ~~products~~in ~~products~~this ~~products~~Form is ~~products~~also ~~products~~thereby ~~and~~furnishing ~~services~~the ~~Total~~information ~~RMB~~to ~~RMB~~the ~~RMB~~Commission ~~RMB~~pursuant ~~RMB~~to ~~RMB Revenues 6,212,553 5,493,959 616,306 800,349 606,808 13,729,975 Segment results~~ Rule 12g3-2(~~93,733~~b) ~~818,966~~under ~~(91,967)~~the Securities ~~172,965~~Exchange ~~(76,975)~~Act ~~729,256 Finance costs, net (149,252) Share~~ of ~~profit of a jointly controlled entity -- 12,559 -- -- -- 12,559 Share of profit of an associated company -- -- -- -- 1,005 1,005 Profit before taxation 593,568~~1934.

~~SIX~~Yes ~~MONTHS~~o No ENDED 30TH JUNE, 2005 2004 RMB RMB Crediting Government grants and subsidies (2,683) -- Charging Amortisation of intangible assets 48,524 61,562 Depreciation of property, plant and equipment 491,792 501,375 Net (profit)/loss on disposal of property, plant and equipment (included in "other operating (income)/expenses") (4,638) 34,158 Provision for impairment of property, plant and equipment (included in "cost of sales") -- 19,814 Provision for impairment of intangible assets (included in "cost of sales") -- 6,698 (Reversal)/provision for impairment of receivables (included in "administrative expenses") (882) 11,354 (Reversal)/provision for impairment of prepaid expenses and other current assets (included in "other operating (income)/expenses") (18) 11,179 Inventory writedowns (included in "cost of sales") -- 79,169 Research and development expenditure 279 192 Employee compensation costs 378,110 497,520 Operating lease rentals on land and buildings 3,200 4,320 Operating lease rentals on plant and machinery 15,650 13,867 Repair and maintenance 163,357 304,285þ

~~SIX~~If ~~MONTHS~~“Yes” ~~ENDED~~is ~~30TH JUNE~~marked, ~~2005~~indicate ~~2004~~below ~~RMB~~the ~~RMB~~file ~~PRC~~number ~~income~~assigned ~~tax~~to --the --registrant ~~Deferred~~in ~~tax~~connection ~~48,209~~ with Rule 12g3-2(b):82- ~~48,209 --~~ .

SIXTable MONTHS ENDED 30TH JUNE, 2005 2004 RMB RMB Profit before taxation 183,239 593,568 Tax calculated at a rate of 33% 60,469 195,877 Utilisation of previously unrecognised deferred tax assets -- (202,269) Other (12,260) 6,392 Tax expense 48,209 --Contents

~~PROPERTY,~~JILIN ~~PLANT~~CHEMICAL ~~AND~~INDUSTRIAL ~~EQUIPMENT~~COMPANY INTANGIBLE ASSETS RMB RMB Net book value: At 1st January, 2005 9,368,990 515,047 Additions 63,770 -- Disposals (3,671) -- Depreciation/amortisation (491,792) (48,524) AT 30TH JUNE, 2005 8,937,297 466,523 Net book value: At 1st January, 2004 9,929,535 621,534 Additions 261,460 168 Disposals (35,673) -- Depreciation/amortisation (501,375) (61,562) Impairment (19,814) (6,698) At 30th June, 2004 9,634,133 553,442 Additions 270,284 10,129 Disposals (12,204) -- Depreciation/amortisation (535,817) (48,524) Impairment 12,594 -- At 31st December, 2004 9,368,990 515,047 Capital commitments contracted but not provided for: AT 30TH JUNE, 2005 12,099 -- At 31st December, 2004 40,646 --LIMITED

30TH JUNE, 31st December, 2005 2004 RMB RMB Raw materials 578,056 1,294,877 Work in progress 530,901 692,320 Finished goods 135,893 460,687 Spare parts 449,000 406,903 Low value consumables and packing materials 12,401 7,563 1,706,251 2,862,350 Less: Provision of inventory writedowns (256,297) (256,297) 1,449,954 2,606,053Form 6-K

~~30TH~~TABLE ~~JUNE,~~OF 31st December, 2005 2004 RMB RMB Due from third parties 218,325 236,943 Due from related parties - PetroChina 287,222 211,530 - JCGC (a fellow subsidiary) Group Companies 172,007 169,077 - An associated company 17,147 23,138 - Other state-controlled enterprises 263,691 265,999 958,392 906,687 Less: Provision for impairment loss - Due from third parties (205,114) (211,932) - Due from related parties (435,446) (429,510) 317,832 265,245CONTENTS

30TH JUNE, 31st December, 2005 2004 RMB RMB Within 1 year 289,193 222,075 Between 1 to 2 years -- 2,042 Between 2 to 3 years 2,042 299 Over 3 years 667,157 682,271 958,392 906,687


	PAGE
Signature		3
EX-99.1 NOTICE OF ANNUAL GENERAL MEETING
EX-99.2 REPORT OF THE BOARD OF DIRECTORS
EX-99.3 REPORT OF THE SUPERVISORY BOARD
EX-99.4 REPORT OF INDEPENDENT AUDITORS
EX-99.5 FINANCIAL STATEMENTS AND REPORT OF AUDITORS FOR THE YEAR ENDED DECEMBER 31, 2005
Ex-99.6 2005 PROFIT APPROPRIATION PLAN

~~30TH JUNE, 31st December, 2005 2004 RMB RMB Other receivables 86,528 97,823 Amounts due from related parties~~ - CNPC Group Companies 10,147 7,172 - JCGC (a fellow subsidiary) Group Companies 74,965 138,347 - An associated company - 239 - Other state-controlled enterprises 274,323 188,895 Down payments to suppliers 15,237 62,940 Prepaid expenses 2~~,624~~ ~~19,856 463,824 515,272 Less: Provision for impairment loss~~ - ~~Due from third parties (52,927) (52,927) - Due from related parties (20,436) (20,454) 390,461 441,891~~

30THTable JUNE,of 31st December, 2005 2004 RMB RMB Cash on hand 18 6 Bank deposits balance - China Petroleum Finance Company Limited (NOTE (I)) 4 19 - State-controlled banks 40,278 14,604 40,300 14,629Contents

30TH JUNE, 31st December, 2005 2004 RMB RMB Trade payables 1,205,534 1,548,764 Advances from customers 203,243 545,545 Salaries and welfare payable 194,570 197,094 Other payables and accrued liabilities 200,731 121,461 Amounts due to related parties -- PetroChina 2,620,436 1,667,303 -- CNPC Group Companies 3,718 -- -- JCGC (a fellow subsidiary) Group Companies 58,277 85,623 -- An associated company -- 9,109 -- Other state-controlled enterprises 146,929 254,787 4,633,438 4,429,686SIGNATURE

~~30TH~~ Pursuant ~~JUNE,~~to ~~31st~~the ~~December,~~requirements ~~2005~~of ~~2004~~the ~~RMB~~Securities ~~RMB~~Exchange ~~Within~~Act 1of ~~year 1~~1934,~~112,293~~ ~~1,450,029~~the ~~Between~~registrant 1has toduly caused 2this ~~years~~report ~~25,483 33,123 Between 2~~ to 3be ~~years~~signed ~~12,345~~on ~~23,267~~its ~~Over~~behalf 3by ~~years~~the 55undersigned,~~413~~ ~~42,345~~thereunto ~~1,205,534~~duly ~~1,548,764~~authorized.

30TH JUNE, 31st December, 2005 2004 RMB RMB Short-term borrowings 1,268,212 3,086,075 Long-term borrowings 720,351 896,015 1,988,563 3,982,090


	JILIN CHEMICAL INDUSTRIAL COMPANY LIMITED

Date: June 8, 2006

		By:	/s/ Shen Diancheng

			Name: Shen Diancheng
			Title: Chairman and Executive Director

~~SIX~~- ~~MONTHS ENDED 30TH JUNE, 2005 2004 RMB RMB Balance at 1st January,~~ 3~~,982,090~~ ~~6,509,897 New borrowings 2,861,390 4,854,427 Repayments of borrowings (4,854,917) (5,974,366) Balance at 30th June, 1,988,563 5,389,958 30TH JUNE, 31st December, 2005 2004 RMB RMB Short~~-term borrowings Bank loans - unsecured (NOTE (I)) 44,640 44,640 Loans from a fellow subsidiary (NOTE (II)) 975,120 2,874,330 1,019,760 2,918,970 Current portion of long-term borrowings 248,452 167,105 1,268,212 3,086,075

30TH JUNE, 31st December, 2005 2004 RMB RMB Long-term borrowings Unsecured long-term borrowings 968,803 1,063,120 Current portion of long-term borrowings (248,452) (167,105) 720,351 896,015 The analysis of the above long-term borrowings is as follows: Wholly repayable within five years 908,704 984,094 Not wholly repayable within five years 60,099 79,026 968,803 1,063,120 Current portion of long-term borrowings (248,452) (167,105) 720,351 896,015

30TH JUNE, 31st December, INTEREST RATE AND FINAL MATURITY 2005 2004 RMB RMB US dollar - denominated loans Floating interest rate at 0% to 8.66% per annum as of 30th June, 2005, with maturities through 2029 820,401 867,251 Japanese Yen - denominated loans Fixed interest rate at 4.10% to 5.30% per annum as of 30th June, 2005, with maturities through 2008 123,114 157,746 Euro - denominated loans Fixed interest rate at 8.30% per annum as of 30th June, 2005, with maturities through 2006 25,288 38,123 968,803 1,063,120

AT 1ST JANUARY, PROFIT AND AT 30TH JUNE, 2005 LOSS ACCOUNT 2005 RMB RMB RMB Deferred tax liabilities: Non-current: Revaluation of fixed assets 2,787 (240) 2,547 Exchange gain in respect of loans borrowed for fixed assets 18,304 (1,206) 17,098 Deferred tax effect on housing subsidy cost 11,288 (1,538) 9,750 Deferred tax effect on accelerated depreciation and amortisation 119,622 111,432 231,054 Total deferred tax liabilities 152,001 108,448 260,449 Deferred tax assets: Non-current: Deferred tax effect on tax losses -- 67,932 67,932 Deferred tax effect on deductible temporary differences 435,203 (7,693) 427,510 Total deferred tax assets 435,203 60,239 495,442 Net deferred tax balance 283,202 (48,209) 234,993

At 1st January, Profit and At 30th June, 2004 loss account 2004 RMB RMB RMB Deferred tax liabilities: Non-current: Revaluation of fixed assets 3,266 (240) 3,026 Exchange gain in respect of loans borrowed for fixed assets 20,717 (1,206) 19,511 Deferred tax effect on housing subsidy cost 14,363 (1,538) 12,825 Total deferred tax liabilities 38,346 (2,984) 35,362 Deferred tax assets: Non-current: Deferred tax effect on tax losses 38,346 (2,984) 35,362 Total deferred tax assets 38,346 (2,984) 35,362 Net deferred tax balance -- -- --

SIX MONTHS ENDED 30TH JUNE, 2005 2004 RMB RMB PETROCHINA (PARENT) Purchase of crude oil (A) 7,381,607 6,346,803 Purchase of production materials (A) 3,087,316 889,065 Sale of gasoline and diesel oil (B) 6,370,666 4,797,825 Sale of petrochemical products (B) 5,781,711 4,027,540 Railway transport and water treatment services (B) 17,093 14,950 Lease of machinery and equipment (C) 15,650 13,867 Production safety insurance fund (D) 16,576 16,475 CNPC GROUP COMPANIES Interest income (E) 205 81 Purchase of materials (F) 4,883 35,763 JCGC (A FELLOW SUBSIDIARY) GROUP COMPANIES Sale of products (G) 803,708 688,092 Examination and maintenance services (H) 1,552 2,429 Construction of fixed assets (I) 6,406 65,294 Purchase of production materials and spare parts (J) 55,903 46,101 Welfare and supporting services (K) 42,450 146,837 Operating lease rentals on land and property (L) 3,200 4,320 AN ASSOCIATED COMPANY Sale of products (M) 106,970 45,603 Purchase of production materials (N) 13,101 17,031 OTHER STATE-CONTROLLED BANKS AND ENTERPRISES Interest income (O) 618 504 Sale of products (P) 704,383 529,564 Purchase of crude oil (Q) 2,432,110 1,195,862 Purchase of production materials (Q) 618,769 421,838

SIX MONTHS ENDED 30TH JUNE, LOAN FROM RELATED PARTIES 2005 2004 RMB RMB CNPC GROUP COMPANIES Principal Beginning of the period 2,874,330 4,791,900 Loan received during the period 2,861,390 4,438,120 Loan repayments paid (4,760,600) (5,031,550) End of the period 975,120 4,198,470 Interest expenses Beginning of the period - - Interest charged during the period 58,392 117,735 Interest paid (58,392) (117,735) End of the period - - JCGC (A FELLOW SUBSIDIARY) GROUP COMPANIES Principal Beginning of the period 333,209 441,726 Loan repayments paid (70,600) (61,434) End of the period 262,609 380,292 Interest expenses Beginning of the period 14,731 14,503 Interest charged during the period 12,835 12,373 Interest paid (10,346) (12,475) End of the period 17,220 14,401 STATE-CONTROLLED BANKS Principal Beginning of the period 774,551 1,276,271 Loan received during the period - 416,307 Loan repayments paid (23,717) (881,382) End of the period 750,834 811,196 Interest expenses Beginning of the period 11,319 39,225 Interest charged during the period 23,624 22,826 Interest paid (17,395) (52,619) End of the period 17,548 9,432

SIX MONTHS ENDED 30TH JUNE, KEY MANAGEMENT COMPENSATION 2005 2004 RMB RMB Fee for key management personnel 40 40 Salaries, allowance and other benefits 325 280 Contribution to retirement benefit scheme 22 23 387 343

30TH JUNE, 31st December, 30TH JUNE, 31st December, 2005 2004 2005 2004 GROUP Group COMPANY Company (UNAUDITED) (Audited) (UNAUDITED) (Audited) ASSETS CURRENT ASSETS Cash and bank (NOTE V-1) 40,300,488 14,629,219 36,259,808 11,819,321 Short-term investments -- -- -- -- Notes receivable (NOTE V-2) 1,971,000 10,545,237 1,911,000 9,456,637 Dividend receivable -- -- -- -- Interest receivable -- -- -- -- Accounts receivable (NOTE V-3) 315,860,595 254,700,444 385,279,727 322,568,028 Other receivables (NOTE V-4) 33,799,957 45,075,155 7,494,684 19,094,936 Advances to suppliers (NOTE V-5) 354,036,608 376,959,411 352,314,863 376,874,901 Subsidy receivable -- -- -- -- Inventories (NOTE V-6) 1,449,953,644 2,606,053,383 1,406,094,241 2,566,518,007 Prepaid expenses (NOTE V-7) 2,624,089 19,856,484 1,972,175 19,474,862 Long-term bond investments maturing within one year -- -- -- -- Other current assets -- -- -- --

30TH JUNE, 31st December, 30TH JUNE, 31st December, 2005 2004 2005 2004 GROUP Group COMPANY Company (UNAUDITED) (Audited) (UNAUDITED) (Audited) LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Short-term loans (NOTE V-14) 1,019,760,000 2,918,970,000 975,120,000 2,874,330,000 Notes payable -- -- -- -- Accounts payable (NOTE V-15) 2,409,675,322 1,891,153,893 2,403,450,986 1,864,805,946 Advances from customers (NOTE V-15) 1,711,754,822 2,137,105,902 1,704,000,340 2,119,941,248 Salaries payable 128,491,679 139,240,168 123,976,408 139,183,607 Welfare payable 66,078,191 57,854,011 53,914,480 48,261,501 Dividend payable -- -- -- -- Taxes payable (NOTE V-16) 181,876,402 154,334,897 178,690,849 150,912,286 Other levies payable -- -- -- -- Other payables (NOTE V-15) 135,460,655 137,027,193 127,048,196 131,685,926 Accrued expenses (NOTE V-17) 97,622,539 26,049,897 93,221,680 26,049,897 Provisions -- -- -- -- Long-term liabilities due within one year (NOTE V-18) 248,452,372 167,105,430 248,452,372 167,105,430 Other current liabilities -- -- -- -- TOTAL CURRENT LIABILITIES 5,999,171,982 7,628,841,391 5,907,875,311 7,522,275,841 LONG-TERM LIABILITIES Long-term loans (NOTE V-19) 580,557,049 682,499,114 580,557,049 682,499,114 Debentures payable -- -- -- -- Payables due after one year -- -- -- -- Special project payables -- -- -- -- Other long-term liabilities (NOTE V-20) 139,793,880 213,515,526 139,793,880 213,515,526 TOTAL LONG-TERM LIABILITIES 720,350,929 896,014,640 720,350,929 896,014,640 DEFERRED TAXES Deferred tax liabilities -- -- -- -- TOTAL LIABILITIES 6,719,522,911 8,524,856,031 6,628,226,240 8,418,290,481 MINORITY INTERESTS 20,770,248 14,275,912 -- -- SHAREHOLDERS' EQUITY Share capital (NOTE V-21) 3,561,078,000 3,561,078,000 3,561,078,000 3,561,078,000 Capital surplus (NOTE V-22) 2,293,618,886 2,293,618,886 2,293,618,886 2,293,618,886 Statutory common reserve fund (NOTE V-23) 701,442,717 701,442,717 693,730,248 693,730,248 Including: Statutory common welfare fund 126,834,279 126,834,279 125,287,623 125,287,623 Accumulated losses (NOTE V-24) (578,558,624) (702,515,175) (570,846,155) (694,802,706) Foreign exchange difference reserve -- -- -- -- TOTAL SHAREHOLDERS' EQUITY 5,977,580,979 5,853,624,428 5,977,580,979 5,853,624,428 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 12,717,874,138 14,392,756,371 12,605,807,219 14,271,914,909

2005 (1-6) 2004 (1-6) 2005 (1-6) 2004 (1-6) GROUP Group COMPANY Company ITEMS (UNAUDITED) (Unaudited) (UNAUDITED) (Unaudited) 1. SALES REVENUE (NOTE V-25) 16,122,195,208 12,556,716,553 16,055,223,686 12,545,541,890 Less: Cost of sales (NOTE V-26) (15,123,412,908) (10,955,477,471) (15,088,226,705) (10,921,200,679) Sales tax and other levies (NOTE V-27) (409,040,843) (366,365,066) (409,040,843) (366,365,066) 2. GROSS PROFIT ON SALES 589,741,457 1,234,874,016 557,956,138 1,257,976,145 Add: Other operating loss (NOTE V-28) (57,733,155) (39,597,041) (63,101,688) (44,951,883) Less: Selling expenses (8,616,914) (16,076,225) (8,614,199) (16,069,181) General and administrative expenses (267,196,723) (382,719,213) (245,913,469) (371,398,599) Financial expenses, net (NOTE V-29) (81,922,594) (149,332,739) (80,792,863) (146,361,685) 3. OPERATING PROFIT 174,272,071 647,148,798 159,533,919 679,194,797 Add: Investment income/(loss) (NOTE V-30) 11,396,841 13,563,392 19,686,575 (7,847,024) Subsidy income 2,683,084 -- 2,683,084 -- Non-operating income 7,209,537 1,693,881 7,163,619 1,665,763 Less: Non-operating expenses (NOTE V-31) (13,918,158) (70,103,725) (13,918,158) (67,925,609) 4. TOTAL PROFIT 181,643,375 592,302,346 175,149,039 605,087,927 LESS: Income tax (51,192,488) -- (51,192,488) -- Minority interests (6,494,336) 12,785,581 -- -- 5. NET PROFIT 123,956,551 605,087,927 123,956,551 605,087,927

2005 (1-6) 2004 (1-6) GROUP COMPANY Group Company (UNAUDITED) (UNAUDITED) (Unaudited) (Unaudited) 1. Income from sale and disposal of departments or investees -- -- -- -- 2. Loss from natural catastrophe -- -- -- -- 3. Increase in total profit resulting from change in accounting policies -- -- -- -- 4. Increase in total profit resulting from change in accounting estimates -- -- -- -- 5. Loss from debt restructuring -- -- -- -- 6. Other -- -- -- --

2005 (1-6) 2004 (1-6) 2005 (1-6) 2004 (1-6) GROUP Group COMPANY Company ITEMS (UNAUDITED) (Unaudited) (UNAUDITED) (Unaudited) 1. NET PROFIT 123,956,551 605,087,927 123,956,551 605,087,927 Add: Accumulated losses at the beginning of the period (702,515,175) (3,276,275,225) (694,802,706) (3,268,562,756) Transfer from other sources -- -- -- -- 2. ACCUMULATED LOSSES (578,558,624) (2,671,187,298) (570,846,155) (2,663,474,829) Less: Transfer to statutory common reserve fund -- -- -- -- Transfer to statutory common welfare fund -- -- -- -- Transfer to staff and workers' bonus and welfare fund -- -- -- -- 3. ACCUMULATED LOSSES (578,558,624) (2,671,187,298) (570,846,155) (2,663,474,829) Less: Dividend for preference stocks -- -- -- -- Transfer to discretionary common reserve fund -- -- -- -- Dividend for common stocks -- -- -- -- Dividend for common stocks transferred to capital -- -- -- -- 4. ACCUMULATED LOSSES AT THE END OF THE PERIOD (578,558,624) (2,671,187,298) (570,846,155) (2,663,474,829)

2005 (1-6) 2004 (1-6) 2005 (1-6) 2004 (1-6) GROUP Group COMPANY Company ITEMS (UNAUDITED) (Unaudited) (UNAUDITED) (Unaudited) 1. CASH FLOWS FROM OPERATING ACTIVITIES Cash received from sale of goods or rendering of services 18,577,643,853 13,575,335,485 18,433,571,643 13,484,432,032 Refund of tax 9,674,715 -- 9,674,715 -- Cash received relating to other operating activities 2,919,221 763,975 2,585,083 2,301,971 SUB-TOTAL OF CASH INFLOWS 18,590,237,789 13,576,099,460 18,445,831,441 13,486,734,003 Cash paid for goods and services (15,050,303,981) (10,782,067,240) (14,974,325,328) (10,730,760,826) Cash paid to and on behalf of employees (386,424,308) (235,213,677) (349,288,007) (206,644,741) Payment of all types of taxes (971,247,853) (999,288,984) (953,334,584) (994,857,894) Cash paid relating to other operating activities (36,504,484) (80,777,794) (31,508,819) (75,840,348) SUB-TOTAL OF CASH OUTFLOWS (16,444,480,626) (12,097,347,695) (16,308,456,738) (12,008,103,809) NET CASH FLOWS FROM OPERATING ACTIVITIES 2,145,757,163 1,478,751,765 2,137,374,703 1,478,630,194 2. CASH FLOWS FROM INVESTING ACTIVITIES Cash received from sale of investments -- -- -- -- Cash received from return of investments 24,000,000 -- 24,000,000 -- Net cash received from disposal of fixed assets 5,113,098 1,514,731 5,113,098 1,514,731 Cash received relating to other investing activities -- -- -- -- SUB-TOTAL OF CASH INFLOWS 29,113,098 1,514,731 29,113,098 1,514,731 Cash paid to acquire fixed assets and other long-term assets (69,538,730) (196,718,328) (63,801,686) (195,192,189) Cash paid to acquire investments -- -- -- -- Cash paid relating to other investing activities -- -- -- -- SUB-TOTAL OF CASH OUTFLOWS (69,538,730) (196,718,328) (63,801,686) (195,192,189) NET CASH FLOWS FROM INVESTING ACTIVITIES (40,425,632) (195,203,597) (34,688,588) (193,677,458)

2005 (1-6) 2004 (1-6) 2005 (1-6) 2004 (1-6) GROUP Group COMPANY Company ITEMS (UNAUDITED) (Unaudited) (UNAUDITED) (Unaudited) 3. CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuing shares -- -- -- -- Including: Cash received from minority shareholders -- -- -- -- Proceeds from borrowings 2,861,390,000 4,854,427,269 2,861,390,000 4,854,427,269 Cash received relating to other financing activities -- -- -- -- SUB-TOTAL OF CASH INFLOWS 2,861,390,000 4,854,427,269 2,861,390,000 4,854,427,269 Repayment of borrowings (4,854,916,769) (5,974,366,833) (4,854,916,769) (5,974,366,833) Cash paid for interest expense and distribution of dividends (86,133,493) (182,829,135) (84,718,859) (181,429,548) Including: Dividends paid to minority shareholders -- -- -- -- Cash paid relating to other financing activities -- -- -- -- Including: Cash paid to minority shareholders due to reduction of capital of subsidiaries -- -- -- -- SUB-TOTAL OF CASH OUTFLOWS (4,941,050,262) (6,157,195,968) (4,939,635,628) (6,155,796,381) NET CASH FLOWS FROM FINANCING ACTIVITIES (2,079,660,262) (1,302,768,699) (2,078,245,628) (1,301,369,112) 4. EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH -- -- -- -- 5. NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 25,671,269 (19,220,531) 24,440,487 (16,416,376)

2005 (1-6) 2004 (1-6) 2005 (1-6) 2004 (1-6) GROUP Group COMPANY Company ITEMS (UNAUDITED) (Unaudited) (UNAUDITED) (Unaudited) 1. RECONCILIATION OF NET PROFIT TO CASH FLOWS FROM OPERATING ACTIVITIES Net profit 123,956,551 605,087,927 123,956,551 605,087,927 Add: Minority interests 6,494,336 (12,785,581) -- -- (Reversal)/provision for impairment of assets (900,104) 128,214,613 (900,104) 127,551,812 Depreciation of fixed assets 470,407,433 454,768,739 459,025,273 443,626,779 Amortization of intangible assets 54,502,011 67,208,626 54,455,076 67,158,685 Amortization of long-term deferred expenses 17,001,633 42,225,822 17,001,633 42,225,822 Decrease/(increase) in prepaid expenses 17,232,395 (4,276,743) 17,502,687 (4,292,406) Increase in accrued expenses 62,855,438 263,075,625 58,454,579 259,935,408 Gain on disposal of fixed assets (5,113,098) (1,514,731) (5,113,098) (1,514,731) Loss on scrapping of fixed assets 474,816 35,672,355 474,816 33,737,001 Financial expenses 94,850,697 152,933,553 93,436,063 151,533,966 Investment (income)/loss (11,396,841) (13,563,392) (19,686,575) 7,847,024 Deferred tax credit 51,192,488 -- 51,192,488 -- Decrease/(increase) in inventories 1,156,099,739 (7,391,193) 1,160,423,766 12,668,078 Increase in operating receivables (12,841,338) (217,013,842) (13,459,197) (229,303,010) Increase/(decrease) in operating payables 120,941,007 (13,890,013) 140,610,745 (37,632,161) NET CASH FLOWS FROM OPERATING ACTIVITIES 2,145,757,163 1,478,751,765 2,137,374,703 1,478,630,194 2. INVESTING AND FINANCING ACTIVITIES THAT DO NOT INVOLVE CASH RECEIPTS AND PAYMENTS Purchase of fixed assets -- -- -- -- Convertible bonds maturing within one year -- -- -- -- Finance lease of fixed assets -- -- -- -- 3. NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS Cash at the end of the period 40,300,488 16,278,288 36,259,808 14,258,692 Less: Cash at the beginning of the period (14,629,219) (35,498,819) (11,819,321) (30,675,068) Cash equivalents at the end of the period -- -- -- -- Less: Cash equivalents at the beginning of the period -- -- -- -- NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 25,671,269 (19,220,531) 24,440,487 (16,416,376)

REGISTERED/ PERCENTAGE NAME OF TYPE OF PAID-IN INVESTMENT OF EQUITY ENTERPRISE ENTERPRISES CAPITAL BUSINESS SCOPE AMOUNT HELD CONSOLIDATION SUBSIDIARIES Winsway Transportation 51,454,000 Provision of 36,154,000 70% Yes enterprises transportation services for chemical materials and products Songmei Manufacturing 72,000,000 Manufacturing of 47,660,421 66% Yes enterprises acetic acid Jianxiu Construction 45,200,000 Machinery repair 44,537,759 99% Yes enterprises and installation Jilin Xinghua Manufacturing 25,668,000 Manufacturing of 19,250,000 75% No (NOTE I) enterprises nitrochloro-benzene Nitrochloro- benzene Company Limited ("Xinghua") Jinxiang Pressure vessels 2,000,000 Inspection, research 1,900,000 94% Yes inspection and consultation enterprises of pressure vessels JOINTLY CONTROLLED ENTITY BASF Manufacturing 150,000,000 Manufacturing of 60,066,150 40% No (NOTE II) enterprises petrochemical products

30TH JUNE, 31st December, 2005 2004 (UNAUDITED) (Audited) Cash on hand 17,900 6,486 Cash in bank 40,282,588 14,622,733 40,300,488 14,629,219

CURRENCY AMOUNT EXCHANGE RATE RMB EQUIVALENT USD 103,311 8.2765 855,053

30TH JUNE, 31st December, 2005 2004 (UNAUDITED) (Audited) Accounts receivable 956,420,073 896,142,211 Less: Specific provision (640,559,478) (641,441,767) 315,860,595 254,700,444

30TH JUNE, 2005 31st December, 2004 (UNAUDITED) (Audited) PROVISION FOR Provision for BALANCE % BAD DEBTS Balance % bad debts Ageing: Within 1 year 287,222,470 30 -- 211,529,663 24 -- 1-2 years -- 0 -- 2,042,308 0 -- 2-3 years 2,042,308 0 -- 298,777 0 (298,777) More than 3 years 667,155,295 70 (640,559,478) 682,271,463 76 (641,142,990) 956,420,073 100 (640,559,478) 896,142,211 100 (641,441,767)

30TH JUNE, 31st December, 2005 2004 RMB RMB (UNAUDITED) (Audited) Other receivables 107,163,428 118,456,441 Less: Specific provision (73,363,471) (73,381,286) 33,799,957 45,075,155

30TH JUNE, 2005 31st December, 2004 (UNAUDITED) (Audited) PROVISION FOR Provision for BALANCE % BAD DEBTS Balance % bad debts Ageing: Within 1 year 7,042,904 6 -- 24,807,982 21 -- 1-2 years 6,472,065 6 -- 837,310 0 (127,602) 2-3 years 837,310 1 (127,602) 1,154,676 0 (163,607) More than 3 years 92,811,149 87 (73,235,869) 91,656,473 79 (73,090,077) 107,163,428 100 (73,363,471) 118,456,441 100 (73,381,286)

30TH JUNE, 2005 31st December, 2004 (UNAUDITED) (Audited) BALANCE % Balance % Ageing: Within 1 year 336,831,818 95 361,188,190 95 1-2 years 1,652,240 1 7,984,731 3 2-3 years 8,325,568 2 1,918,666 0 More than 3 years 7,226,982 2 5,867,824 2 354,036,608 100 376,959,411 100

31st December, 30TH JUNE, 2004 2005 (Audited) (UNAUDITED) Cost: Raw materials 1,294,876,600 578,056,228 Work in progress 692,320,089 530,900,953 Finished goods 460,687,071 135,892,654 Spare parts 406,903,650 449,000,023 Low value consumables and packing materials 7,563,052 12,400,865 2,862,350,462 1,706,250,723 ADDITIONS DEDUCTIONS (Unaudited) (Unaudited) Provision for diminution in value of inventories: Raw materials (70,820,662) -- -- (70,820,662) Work in progress (5,643,854) -- -- (5,643,854) Finished goods (16,210,129) -- -- (16,210,129) Spare parts (163,262,401) -- -- (163,262,401) Low value consumables and packing materials (360,033) -- -- (360,033) (256,297,079) -- -- (256,297,079) 2,606,053,383 1,449,953,644

1st January, 30TH JUNE, 2005 ADDITIONS AMORTIZATION 2005 (Audited) (Unaudited) (Unaudited) (UNAUDITED) Catalyst 14,692,609 9,022,513 (22,853,211) 861,911 Insurance premium 934,351 1,908,371 (1,148,977) 1,693,745 Other 4,229,524 12,093,895 (16,254,986) 68,433 19,856,484 23,024,779 (40,257,174) 2,624,089

1st January, 30TH JUNE, 2005 ADDITIONS DEDUCTION 2005 (Audited) (Unaudited) (Unaudited) (UNAUDITED) Jointly controlled entity 89,834,909 8,443,125 (24,000,000) 74,278,034 Associated company 9,304,685 2,953,716 -- 12,258,401 99,139,594 11,396,841 (24,000,000) 86,536,435

PERCENTAGE OF EQUITY HELD ORIGINAL INVESTMENT NAME OF INVESTMENT 1st January, 30TH JUNE, 1st January, 30TH JUNE, ENTERPRISE PERIOD 2005 2005 2005 ADDITIONS DECREASE 2005 (Audited) (UNAUDITED) (Audited) (Unaudited) (Unaudited) (UNAUDITED) % % UNCONSOLIDATED SUBSIDIARY Xinghua (NOTE IV (I)) -- -- -- -- -- -- JOINTLY CONTROLLED ENTITY BASF From 18th November, 40 40 60,066,150 -- -- 60,066,150 1995 ASSOCIATED COMPANY Lianli 22nd March, 2001 47 47 20,042,147 -- -- 20,042,147 to 22nd March, 2006 80,108,297 -- -- 80,108,297

1st January, REDUCTION 30TH JUNE, 2005 ADDITIONAL IN SHARE OF DIVIDEND 2005 book value INVESTMENT INVESTMENT NET PROFIT RECEIVED BOOK VALUE (Audited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (UNAUDITED) JOINTLY CONTROLLED ENTITY BASF 89,834,909 -- -- 8,443,125 (24,000,000) 74,278,034 ASSOCIATED COMPANY Lianli 9,304,685 -- -- 2,953,716 -- 12,258,401 99,139,594 -- -- 11,396,841 (24,000,000) 86,536,435

PLANT AND BUILDINGS MACHINERY EQUIPMENT MOTOR VEHICLES TOTAL COST 1st January, 2005 (Audited) 1,758,552,631 11,622,153,893 2,636,382,789 179,886,250 16,196,975,563 Transfer from CIP (NOTE V 10) (Unaudited) 900,023 22,990,409 6,748,750 2,534,748 33,173,930 Other additions (Unaudited) 2,430,089 -- -- 287,540 2,717,629 Reclassifications (Unaudited) 28,184,761 (26,316,528) (1,868,233) -- -- Disposals (Unaudited) -- (3,639,134) (484,345) (718,744) (4,842,223) 30TH JUNE, 2005 (UNAUDITED) 1,790,067,504 11,615,188,640 2,640,778,961 181,989,794 16,228,024,899 ACCUMULATED DEPRECIATION 1st January, 2005 (Audited) 722,644,107 3,989,998,260 1,904,382,191 102,892,295 6,719,916,853 Depreciation (Unaudited) 40,772,922 333,956,698 87,819,480 7,858,333 470,407,433 Disposals (Unaudited) -- (288,901) (370,779) (511,256) (1,170,936) 30TH JUNE, 2005 (UNAUDITED) 763,417,029 4,323,666,057 1,991,830,892 110,239,372 7,189,153,350 NET BOOK VALUE 30TH JUNE, 2005 (UNAUDITED) 1,026,650,475 7,291,522,583 648,948,069 71,750,422 9,038,871,549 31st December, 2004 (Audited) 1,035,908,524 7,632,155,633 732,000,598 76,993,955 9,477,058,710 PROVISION FOR IMPAIRMENT 1st January, 2005 (Audited) and 30th June, 2005 (Unaudited) 54,004,790 176,484,961 46,996,897 4,536,600 282,023,248 NET BOOK AMOUNT 30TH JUNE, 2005 (UNAUDITED) 972,645,685 7,115,037,622 601,951,172 67,213,822 8,756,848,301 31st December, 2004 (Audited) 981,903,734 7,455,670,672 685,003,701 72,457,355 9,195,035,462

TOTAL TRANSFER ADDITIONS NAME OF 1st January, OUT TO OTHER 30TH JUNE, SOURCE OF AS A % PROJECT BUDGET 2005 ADDITIONS FIXED ASSETS TRANSFER OUT 2005 FUNDS OF BUDGET (Unaudited) (Audited) (Unaudited) (Unaudited) (Unaudited) (UNAUDITED) (Unaudited) (Unaudited) Improvement project for commutation project 19,998,000 16,276,011 -- -- (2,338,688) 13,937,323 Working 70% capital Improvement project for F0301 boiler 25,000,000 -- 22,543,492 (22,543,492) -- -- Working 90% capital Other (A) 33,499,735 34,630,640 (10,630,438) -- 57,499,937 49,775,746 57,174,132 (33,173,930) (2,338,688) 71,437,260 Less: Provision for construction in progress (B) (7,220,081) -- -- -- (7,220,081) 42,555,665 64,217,179

TECHNICAL LAND USE RIGHTS KNOW-HOW TOTAL COST 1st January, 2005 (Audited) 1,149,201,148 924,504,667 2,073,705,815 Disposals (Unaudited) -- (44,804,880) (44,804,880) 30TH JUNE, 2005 (UNAUDITED) 1,149,201,148 879,699,787 2,028,900,935 ACCUMULATED AMORTIZATION 1st January, 2005 (Audited) 235,599,745 486,268,134 721,867,879 Amortization (Unaudited) 11,265,002 43,237,009 54,502,011 Disposals (Unaudited) -- (44,804,880) (44,804,880) 30TH JUNE, 2005 (UNAUDITED) 246,864,747 484,700,263 731,565,010 NET BOOK VALUE 30TH JUNE, 2005 (UNAUDITED) 902,336,401 394,999,524 1,297,335,925 31st December, 2004 (Audited) 913,601,403 438,236,533 1,351,837,936 PROVISION FOR IMPAIRMENT 1st January, 2005 (Audited) and 30th June, 2005 (Unaudited) -- 6,698,195 6,698,195 NET BOOK AMOUNT 30TH JUNE, 2005 (UNAUDITED) 902,336,401 388,301,329 1,290,637,730 31st December, 2004 (Audited) 913,601,403 431,538,338 1,345,139,741 Remaining years of amortization (Unaudited) 40-47 years 3-10 years

REMAINING ACCUMULATED 1st January, 30TH JUNE, YEARS OF COST AMORTIZATION 2005 ADDITIONS AMORTIZATION 2005 AMORTIZATION (Unaudited) (Unaudited) (Audited) (Unaudited) (Unaudited) (UNAUDITED) (Unaudited) Catalyst 283,211,846 229,345,527 64,648,462 6,219,490 (17,001,633) 53,866,319 1-5

30TH JUNE, 31st December, 2005 2004 (UNAUDITED) (Audited) Assets impairment provision and disposal loss (A) 427,510,818 435,203,118 Tax losses (B) 67,932,216 -- Accelerated depreciation and amortisation (C) (231,054,881) (119,622,477) 264,388,153 315,580,641

FOREIGN BALANCE AT CURRENCY EXCHANGE INTEREST NAME OF LENDER 30TH JUNE, 2005 CURRENCY AMOUNT RATE RATE DUE DATE CONDITIONS (UNAUDITED) % Construction Bank of China, Jilin Branch 121,248,656 USD 14,649,750 8.2765 8.66 30th September, 2009 Guaranteed by JCGC Construction Bank of China, Jilin Branch (A) 95,610,687 USD 11,552,068 8.2765 8.42 31st July, 2010 Guaranteed by JCGC Bank of China, Changchun sub-branch 75,509,562 USD 9,123,369 8.2765 - 29th September, 2029 Unsecured Bank of China, 413,825,000 USD 50,000,000 8.2765 LIBOR 14th March, 2007 Guaranteed by Jilin Branch +60bps PetroChina 706,193,905 Current portion of long-term loans (NOTE V 18) (125,636,856) 580,557,049

30TH JUNE, 31st December, INTEREST RATE 2005 2004 PER ANNUM (UNAUDITED) (Audited) Payables to JCGC - Ethylene Project loans 262,609,396 333,208,992 4.1%-8.3% Other long-term liabilities due within one year (NOTE V 18) (122,815,516) (119,693,466) 139,793,880 213,515,526

30TH JUNE, 2005 31st December, 2004 (UNAUDITED) (Audited) ORIGINAL CURRENCY RMB EQUIVALENT Original currency RMB equivalent US Dollar 13,797,880 114,207,308 16,593,913 137,339,517 Japanese Yen 1,638,268,750 123,114,258 1,979,225,000 157,746,212 Euro 2,538,684 25,287,830 3,384,913 38,123,263 262,609,396 333,208,992

1st January, 30TH JUNE, 2005 ADDITIONS DEDUCTION 2005 (Audited) (Unaudited) (Unaudited) (UNAUDITED) Share premium 2,281,092,338 -- -- 2,281,092,338 Reserve for non-cash donations received 8,408,898 -- -- 8,408,898 Reserve for equity investments 4,106,100 -- -- 4,106,100 Other 11,550 -- -- 11,550 2,293,618,886 -- -- 2,293,618,886

1st January, 30TH JUNE, 2005 ADDITIONS DEDUCTION 2005 (Audited) (Unaudited) (Unaudited) (UNAUDITED) Statutory common reserve fund 160,154,718 -- -- 160,154,718 Statutory common welfare fund 126,834,279 -- -- 126,834,279 Discretionary common reserve fund 414,453,720 -- -- 414,453,720 701,442,717 -- -- 701,442,717

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 Accumulated losses at the beginning of the period (Audited) (702,515,175) (3,276,275,225) Add: Net profit for the period (Unaudited) 123,956,551 605,087,927 Accumulated losses at the end of the period (Unaudited) (578,558,624) (2,671,187,298)

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Petroleum products 7,589,622,286 6,431,753,688 Petrochemical and organic chemical products 7,315,043,811 5,062,350,861 Synthetic rubber products 878,240,816 723,277,372 Chemical fertilizers and inorganic chemical products 339,288,295 339,334,632 16,122,195,208 12,556,716,553

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Petroleum products 8,519,812,965 6,132,236,068 Petrochemical and organic chemical products 5,544,427,085 3,925,907,186 Synthetic rubber products 706,814,460 508,238,015 Chemical fertilizers and inorganic chemical products 352,358,398 389,096,202 15,123,412,908 10,955,477,471

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Interest expense 94,850,697 152,933,553 Less: Interest income (822,782) (584,825) Exchange loss 28,754 3,828,755 Less: Exchange gain (12,226,283) (6,926,029) Other 92,208 81,285 81,922,594 149,332,739

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Share of profit of a jointly controlled entity 8,443,125 12,558,430 Share of profit of an associated company 2,953,716 1,004,962 11,396,841 13,563,392

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Loss on temporary shutdown 12,269,275 6,045,532 Loss on disposal of fixed assets 474,816 35,672,355 Loss on impairment of construction in progress - 19,814,260 Loss on impairment of intangible assets - 6,698,195 Other 1,174,067 1,873,383 13,918,158 70,103,725

30TH JUNE, 2005 31st December, 2004 (UNAUDITED) (Audited) PROVISION FOR Provision for BALANCE % BAD DEBTS Balance % bad debts Ageing: Within 1 year 358,683,910 35 -- 281,439,555 29 -- 1-2 years -- 0 -- -- 0 -- 2-3 years -- 0 -- 298,777 0 (298,777) More than 3 years 666,488,937 65 (639,893,120) 681,605,105 71 (640,476,632) 1,025,172,847 100 (639,893,120) 963,343,437 100 (640,775,409)

30TH JUNE, 2005 31st December, 2004 (UNAUDITED) (Audited) PROVISION FOR Provision for BALANCE % BAD DEBTS Balance % bad debts Ageing: Within 1 year 6,782,173 8 -- 18,310,771 20 -- 1-2 years -- 0 -- 302,810 0 (127,602) 2-3 years 302,810 0 (127,602) 772,564 0 (163,607) More than 3 years 73,773,172 92 (73,235,869) 73,090,077 80 (73,090,077) 80,858,155 100 (73,363,471) 92,476,222 100 (73,381,286)

1st January, 30TH JUNE, 2005 ADDITIONS DECREASE 2005 (Audited) (Unaudited) (Unaudited) (UNAUDITED) Subsidiaries (NOTE (1)) 70,330,134 8,289,734 -- 78,619,868 Jointly controlled entity (NOTE (2)) 89,834,909 8,443,125 (24,000,000) 74,278,034 Associated company (NOTE (2)) 9,304,685 2,953,716 -- 12,258,401 169,469,728 19,686,575 (24,000,000) 165,156,303

PERCENTAGE OF EQUITY HELD ORIGINAL INVESTMENT NAME OF 1st January, 30TH JUNE, 1st January, 30TH JUNE, ENTERPRISE INVESTMENT PERIOD 2005 2005 2005 ADDITIONS 2005 (Audited) (UNAUDITED) (Audited) (Unaudited) (UNAUDITED) % % Winsway 7th August, 1995 to 70 70 36,154,000 -- 36,154,000 6th August, 2005 Songmei 26th December, 1997 to 66 66 47,660,421 -- 47,660,421 25th December, 2017 Jianxiu 12th February, 2001 to 99 99 44,537,759 -- 44,537,759 12th February, 2008 Xinghua 21st February, 1991 to 75 75 19,250,000 -- 19,250,000 20th February, 2011 147,602,180 -- 147,602,180

1st January, SHARE 30TH JUNE, 2005 ADDITIONAL OF NET DIVIDEND 2005 book value INVESTMENT PROFIT/(LOSS) RECEIVED BOOK VALUE (Audited) (Unaudited) (Unaudited) (Unaudited) (UNAUDITED) Winsway 36,740,580 -- (811,196) -- 35,929,384 Songmei 19,638,596 -- 14,797,428 -- 34,436,024 Jianxiu 13,950,958 -- (5,696,498) -- 8,254,460 Xinghua (NOTE IV (I)) -- -- -- -- -- 70,330,134 -- 8,289,734 -- 78,619,868

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Petroleum products 7,589,622,286 6,431,753,688 Petrochemical and organic chemical products 7,248,072,289 5,051,176,198 Synthetic rubber products 878,240,816 723,277,372 Chemical fertilizers and inorganic chemical products 339,288,295 339,334,632 16,055,223,686 12,545,541,890

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Petroleum products 8,519,812,965 6,132,236,068 Petrochemical and organic chemical products 5,509,240,882 3,891,630,394 Synthetic rubber products 706,814,460 508,238,015 Chemical fertilizers and inorganic chemical products 352,358,398 389,096,202 15,088,226,705 10,921,200,679

NAME OF PLACE OF RELATIONSHIP WITH NATURE OF LEGAL ENTERPRISE REGISTRATION PRINCIPAL ACTIVITIES THE COMPANY THE ENTERPRISE REPRESENTATIVE CNPC PRC Exploration, development, Ultimate holding State-owned Chen Geng production and sale of company enterprise natural resources PetroChina PRC Exploration, manufacture Immediate holding Joint stock limited Chen Geng and sale of petroleum company company and natural gas; pipeline transportation, manufacture and sale of petrochemical products Winsway PRC Transportation of Subsidiary Sino-foreign equity Ni Muhua petrochemical products joint venture Songmei PRC Manufacture of Subsidiary Sino-foreign Ni Muhua acetic acid co-operative joint venture Jianxiu PRC Machinery repair Subsidiary Joint venture Zhang Xingfu and installation Jinxiang PRC Inspection, research and Indirect subsidiary Limited company Li Jiangqiang consultation of pressure vessels

1st January, 30TH JUNE, NAME 2005 ADDITIONS DECREASE 2005 (Audited) (Unaudited) (Unaudited) (UNAUDITED) RMB'000 % RMB'000 % RMB'000 % RMB'000 % PetroChina 2,396,300 67 -- -- -- -- 2,396,300 67

Capital or CAPITAL equity OR EQUITY held at HELD AT 1st January, 30TH JUNE, 2005 ADDITIONS REDUCTION 2005 (Audited) % (Unaudited) % (Unaudited) % (UNAUDITED) % Winsway 36,154,000 70 -- -- -- -- 36,154,000 70 Songmei 47,660,421 66 -- -- -- -- 47,660,421 66 Jianxiu 44,537,759 99 -- -- -- -- 44,537,759 99 Jinxiang 1,881,000 94 -- -- -- -- 1,881,000 94

EQUITY PERCENTAGE HELD AT NATURE OF THE DATE OF PLACE OF REGISTERED 30TH JUNE, PRINCIPAL NAME ENTERPRISE REGISTRATION REGISTRATION CAPITAL CURRENCY 2005 ACTIVITIES RMB'000 JOINTLY CONTROLLED ENTITY - BASF Sino-foreign 18th November, Jilin 150,000 RMB 40% Manufacturing of joint venture 1995 petrochemical products ASSOCIATED COMPANY - Lianli State-owned 22nd March, Jilin 42,210 RMB 47% Wholesale and 2001 retail of petrochemical products

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) PETROCHINA GROUP COMPANIES Purchase of crude oil 7,381,606,716 6,346,802,733 Purchase of production materials 3,087,315,721 889,064,803 Sale of gasoline and diesel oil 6,370,666,069 4,797,824,641 Sale of petrochemical products 5,781,710,572 4,027,539,747 Railway transport and water treatment services 17,093,143 14,950,134 Property safety and insurance fund (NOTE (1)) 16,575,567 16,474,896 Lease of machinery and equipment 15,650,000 13,867,000 CNPC GROUP COMPANIES Loan drawn 2,861,390,000 4,438,120,000 Interest income 205,404 80,824 Interest expenses 58,391,975 117,735,079 Purchase of materials 4,883,238 35,763,456 JCGC GROUP COMPANIES Sale of products 803,707,733 688,092,135 Examination and maintenance services 1,551,967 2,428,644 Construction of fixed assets 6,406,419 65,294,023 Purchase of production materials and spare parts 55,902,999 46,100,792 Welfare and supporting services 42,450,152 146,837,253 Operating rental on land & property 3,200,000 4,320,222 LIANLI Sale of products 106,970,293 45,603,486 Purchase of production materials 13,100,597 17,031,242

30TH JUNE, 31st December, 2005 2004 (UNAUDITED) (Audited) Accounts receivable from -- PetroChina Group Companies 287,222,470 211,529,663 -- JCGC Group Companies 172,006,595 169,077,379 -- Lianli 17,147,018 23,138,266 Accounts receivable due from related parties are for goods sold to these companies. Other receivables from -- JCGC Group Companies 8,634,241 8,633,041 Other receivables due from related parties are mainly for expenses paid on their behalf. Advances to suppliers to -- JCGC Group Companies 66,330,799 129,713,525 -- CNPC Group Companies 10,147,018 7,171,710 -- Lianli -- 239,298 The balance mainly represents advance payments for import of machinery through JCGC. Accounts payable to -- CNPC Group Companies 1,160,276,272 186,038,691 -- PetroChina Group Companies 3,717,784 -- -- JCGC Group Companies 16,194,689 32,486,521 -- Lianli -- 4,482,628 Advances from -- PetroChina Group Companies 1,460,160,000 1,481,263,819 -- JCGC Group Companies 9,731,236 11,517,711 -- Lianli -- 4,625,674 Other payables to -- JCGC Group Companies 32,350,846 41,618,179 Short-term loans from -- CP Finance 975,120,000 2,874,330,000 Other long-term liabilities from -- JCGC Group Companies 262,609,396 333,208,992

30TH JUNE, 31st December, 2005 2004 (UNAUDITED) (Audited) Guaranteed by - PetroChina Group Companies (NOTE V 19,20) 676,434,396 747,033,992 - JCGC Group Companies (NOTE V 19) 216,859,343 239,035,505

30TH JUNE, 31st December, 2005 2004 (UNAUDITED) (Audited) Property, plant and equipment 12,099,300 40,646,387

SIX MONTHS ENDED Six months ended 30TH JUNE, 2005 30th June, 2004 (UNAUDITED) (Unaudited) Net profit 123,956,551 605,087,927 Add/(Deduct): Non-operating (profit)/loss -- Net (income)/loss from disposal of fixed assets (4,638,282) 34,157,624 -- Non-seasonal shutdown 12,269,275 6,045,532 -- Reversal of assets impairment provision (900,104) (1,570,546) -- Subsidy income (2,683,084) -- -- Other (1,170,067) 1,133,550 126,834,289 644,854,087 Net impact on income tax (949,654) -- Net profit before non-operating loss 125,884,635 644,854,087

SIX MONTHS ENDED 30TH JUNE, 2005 2004 NOTES RMB RMB Net profit as reported under PRC GAAP 123,957 605,088 Adjustments to conform with IFRS: - Depreciation expense due to revaluation of fixed assets at 28th February, 1995 (I) (726) (726) - Depreciation expense on fixed assets due to difference in exchange gains capitalised (III) (3,655) (3,655) - Amortisation of housing subsidy cost (IV) (4,660) (4,660) - Reversal of amortisation of land use rights (V) 10,636 10,307 - Tax adjustment (VI) 2,984 - - Minority interest (VII) 6,494 (12,786) Profit as reported under IFRS 135,030 593,568 30TH JUNE, 31st December, 2005 2004 NOTES RMB RMB Shareholders' equity as reported under PRC GAAP 5,977,581 5,853,624 Adjustments to conform with IFRS: - Surplus on revaluation of fixed assets at 28th February, 1995 (I) 29,033 29,033 - Deferred tax effect on revaluation surplus on revaluation of fixed assets at 28th February, 1995 (I) (9,580) (9,580) - Depreciation expense due to revaluation at 28th February, 1995 (I) (15,003) (14,277) - Difference in loss on write-off of fixed assets due to revaluation at 28th February, 1995 (II) (6,309) (6,309) - Exchange gains in respect of funds borrowed for fixed assets (III) 112,471 112,471 - Depreciation expense on fixed assets due to difference in exchange gains capitalised (III) (60,661) (57,006) - Housing subsidy cost (IV) 29,542 34,202 - Deferred tax effect on housing subsidy cost (IV) (23,587) (23,587) - Adjustment of land use rights at 1st January, 2001 (V) (853,657) (864,293) - Tax adjustment (VI) 3,772 788 - Minority interest (VII) 20,770 14,276 Equity as reported under IFRS 5,204,372 5,069,342

SIX MONTHS ENDED 30TH JUNE, 2005 2004 2005 NOTES RMB RMB USD Profit under IFRS 135,030 593,568 16,315 US GAAP adjustments: - Depreciation charge on fixed asset revaluation surplus on Restructuring and at 28th February, 1995 (I) 4,541 5,611 549 - Depreciation charge on writedown in carrying amount (net of minority interests) of fixed assets, net of impairment (I) (12,722) (12,978) (1,537) - Difference in loss on write-off of fixed assets due to writedown in carrying amount of fixed assets (I) -- (19,978) -- - Depreciation charge on foreign currency translation difference on interest components capitalised in fixed assets (II) 765 765 92 - Tax effect (IV) 2,447 -- 296 - Minority interest (V) (6,494) 12,786 (785) Profit under US GAAP 123,567 579,774 14,930 Basic and diluted earnings per share RMB0.03 RMB0.16 USD0.00

30TH JUNE, 31st December, 30TH JUNE, 2005 2004 2005 NOTES RMB RMB USD Equity as reported under IFRS 5,204,372 5,069,342 628,813 US GAAP adjustments: - Fixed asset revaluation on Restructuring and at 28th February, 1995 (I) (744,007) (744,007) (89,894) - Depreciation charge on fixed assets due to revaluation on Restructuring and at 28th February, 1995 (I) 681,225 676,684 82,308 - Reduction in loss on write-off of fixed assets (I) 11,532 11,532 1,393 - Reversal of writedown in carrying amount (net of minority interests) of fixed assets, net of impairment of fixed assets (I) 254,446 254,446 30,743 - Depreciation charge on writedown in carrying amount (net of minority interests) of fixed assets, net of impairment (I) (66,121) (53,399) (7,989) - Foreign currency translation difference on interest components capitalised in fixed assets (II) (30,616) (30,616) (3,699) - Depreciation charge on foreign currency translation difference on interest components capitalised in fixed assets (II) 13,013 12,248 1,572 - Gain on transfer of fixed assets to Jilian (III) (65,320) (65,320) (7,892) - Tax effect (IV) (17,870) (20,317) (2,158) - Minority interest (V) (20,770) (14,276) (2,510) Equity as reported under US GAAP 5,219,884 5,096,317 630,687

SIX MONTHS ENDED 30TH JUNE, 2005 2004 2005 RMB RMB USD Equity as reported under US GAAP at beginning of the period 5,096,317 2,609,909 615,757 Profit for the period 123,567 579,774 14,930 Equity as reported under US GAAP at end of the period 5,219,884 3,189,683 630,687

CURRENT PERIOD REDUCTION REVERSAL CAUSED BY AS AT CURRENT INCREASE OF OTHER TRANSFER-OUT AS AT 1ST JANUARY, 2005 PERIOD ADDITION ASSETS VALUE (NOTE) TOTAL ITEMS GROUP COMPANY GROUP COMPANY GROUP COMPANY GROUP COMPANY GROUP 1. BAD DEBT PROVISION 714,823,053 714,156,695 -- -- -- -- (900,104) (900,104) (900,104) Including: Accounts receivable 641,441,767 640,775,409 -- -- -- -- (882,289) (882,289) (882,289) Other receivables 73,381,286 73,381,286 -- -- -- -- (17,815) (17,815) (17,815) 2. PROVISION FOR IMPAIRMENT OF SHORT-TERM INVESTMENTS Including: Equity investments Bond investments 3. INVENTORY PROVISION 256,297,079 255,622,836 -- -- -- -- -- -- -- Including: Raw materials 70,820,662 70,820,662 -- -- -- -- -- -- -- Work in progress 5,643,854 5,643,854 -- -- -- -- -- -- -- Finished goods 16,210,129 15,535,886 -- -- -- -- -- -- -- Spare parts 163,262,401 163,262,401 -- -- -- -- -- -- -- Low value consumables and packing materials 360,033 360,033 -- -- -- -- -- -- -- 4. PROVISION FOR IMPAIRMENT OF LONG-TERM INVESTMENTS Including: Long-term equity investments Long-term bond investments 5. PROVISION FOR IMPAIRMENT OF FIXED ASSETS 282,023,248 269,931,112 -- -- -- -- -- -- -- Including: Buildings 54,004,790 54,320,147 -- -- -- -- -- -- -- Machinery 176,484,961 175,250,656 -- -- -- -- -- -- -- Equipment 46,996,897 39,123,709 -- -- -- -- -- -- -- Motor vehicles 4,536,600 1,236,600 -- -- -- -- -- -- -- 6. PROVISION FOR IMPAIRMENT OF INTANGIBLE ASSETS 6,698,195 6,698,195 -- -- -- -- -- -- -- Including: Technical know-how 6,698,195 6,698,195 -- -- -- -- -- -- -- Patent -- -- -- -- -- -- -- -- -- 7. PROVISION FOR IMPAIRMENT OF CONSTRUCTION IN PROGRESS 7,220,081 7,220,081 -- -- -- -- -- -- -- 8. PROVISION FOR TRUST LOAN

30TH JUNE, 2005 ITEMS COMPANY GROUP COMPANY 1. BAD DEBT PROVISION (900,104) 713,922,949 13,256,591 Including: Accounts receivable (882,289) 640,559,478 639,893,120 Other receivables (17,815) 73,363,471 73,363,471 2. PROVISION FOR IMPAIRMENT OF SHORT-TERM INVESTMENTS Including: Equity investments Bond investments 3. INVENTORY PROVISION -- 256,297,079 255,622,836 Including: Raw materials -- 70,820,662 70,820,662 Work in progress -- 5,643,854 5,643,854 Finished goods -- 16,210,129 15,535,886 Spare parts -- 163,262,401 163,262,401 Low value consumables and packing materials -- 360,033 360,033 4. PROVISION FOR IMPAIRMENT OF LONG-TERM INVESTMENTS Including: Long-term equity investments Long-term bond investments 5. PROVISION FOR IMPAIRMENT OF FIXED ASSETS -- 282,023,248 269,931,112 Including: Buildings -- 54,004,790 54,320,147 Machinery -- 176,484,961 175,250,656 Equipment -- 46,996,897 39,123,709 Motor vehicles -- 4,536,600 1,236,600 6. PROVISION FOR IMPAIRMENT OF INTANGIBLE ASSETS -- 6,698,195 6,698,195 Including: Technical know-how -- 6,698,195 6,698,195 Patent -- -- - 7. PROVISION FOR IMPAIRMENT OF CONSTRUCTION IN PROGRESS -- 7,220,081 7,220,081 8. PROVISION FOR TRUST LOAN

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