MIRA INFORM REPORT

Report Date :

02.06.2012

IDENTIFICATION DETAILS

Name :	ZHEJIANG JINGGONG SCIENCE & TECH. CO.,
Registered Office :	1809 Jianhu Road, Kexi Industrial District, Ke Qiao Town, Shaoxing, 312030
Country :	China
Financials (as on) :	31.12.2011
Date of Incorporation :	10.09.2000
Legal Form :	Public Independent
Line of Business :	Manufacture of special purpose machinery for use in the textile and engineering industries
No. of Employees :	904

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Good
Payment Behaviour :	No complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
China	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name and address

Zhejiang Jinggong Science & Tech. Co.,

1809 Jianhu Road
Kexi Industrial District
Ke Qiao Town
Shaoxing, 312030
China
Tel:	86-575-84138692
Fax:	86-575-84886600
en.jgtec.com.cn

Employees:

904

Company Type:

Public Independent

Traded:

Shenzhen Stock Exchange:

002006

Incorporation Date:

10-Sep-2000

Auditor:

Pan-China CPA

Fiscal Year End:	31-Dec-2011
Reporting Currency:	Chinese Renminbi
Annual Sales:	363.7 ^1
Net Income:	62.1
Total Assets:	428.3 ^2
Market Value:	948.0
	(18-May-2012)

Business Description

Zhejiang Jinggong Science & Technology Co., Ltd is principally engaged in the research, development, manufacture and sale of special purpose machineries and equipment. The Company mainly provides solar energy photovoltaic machineries, new type construction and construction material special purpose machineries, light textile special purpose machineries, solar energy polysilicon chips, solar energy polysilicon ingots and engineering machineries, among others. Through its subsidiaries, the Company is also involved in the design, development, production and distribution of mechanical and electronic integration products and electrical control systems, as well as the refitting of special purpose vehicles and the production of chemical dangerous cargo special troughs and jars, among others. The Company distributes its products in both domestic and overseas markets. For the six months ended 30 June 2011, Zhejiang Jinggong Science & Tech Co., Ltd.'s total revenues totaled RMB1.26B, up from RMB442.8M. The Company's net income totaled RMB221.0M, up from RMB13.7M. Total revenues reflect higher sales due to increased market demand for the Company's products and effective marketing strategy. Net income also benefited from the higher gross profit margin, as well as decreased financing expense.

Industry

Industry	Miscellaneous Capital Goods
ANZSIC 2006:	2469 - Other Specialised Machinery and Equipment Manufacturing
NACE 2002:	2924 - Manufacture of other general purpose machinery not elsewhere classified
NAICS 2002:	333298 - All Other Industrial Machinery Manufacturing
UK SIC 2003:	2924 - Manufacture of other general purpose machinery not elsewhere classified
US SIC 1987:	3559 - Special Industry Machinery, Not Elsewhere Classified

Key Executives

Name	Title
Yueshun Jin	General Manager, Director
Senlin Qiu	Finance Director
Weiming Huang	Secretary of the Board, Deputy General Manager
Zhijuan Wang	Deputy General Manager
Huili Sun	Chief Accounting Officer

Significant Developments

Topic	#*	Most Recent Headline	Date
Strategic Combinations	1	Zhejiang Jinggong Science & Technology Co., Ltd to Set up Joint Venture	15-Sep-2011
Other Earnings Pre-Announcement	1	Zhejiang Jinggong Science & Technology Co., Ltd Announces FY 2012 Q1 Net Profit Outlook	31-Mar-2012
Special Events / Other	1	Zhejiang Jinggong Science & Technology Co., Ltd's Subsidiary Receives Subsidy	17-Jan-2012
Positive Earnings Pre-Announcement	1	Zhejiang Jinggong Science & Technology Co., Ltd Revises FY 2011 H1 Net Profit Outlook	15-Jul-2011
Dividends	4	Zhejiang Jinggong Science & Technology Co., Ltd Announces FY 2011 Dividend Payment Date	8-May-2012

* number of significant developments within the last 12 months

Financial Summary

As of 31-Mar-2012

Key Ratios	Company	Industry
Current Ratio (MRQ)	1.49	1.95
Quick Ratio (MRQ)	1.00	1.03
Debt to Equity (MRQ)	0.53	0.45
Sales 5 Year Growth	41.80	6.22
Net Profit Margin (TTM) %	14.59	7.96
Return on Assets (TTM) %	14.05	8.48
Return on Equity (TTM) %	36.47	17.58

Stock Snapshot

Traded: Shenzhen Stock Exchange: 002006

As of 18-May-2012

   Financials in: CNY

Recent Price	13.17	EPS	1.02
52 Week High	39.98	Price/Sales	2.55
52 Week Low	13.06	Dividend Rate	0.07
Avg. Volume (mil)	8.27	Price/Earnings	32.02
Market Value (mil)	5,994.46	Price/Book	4.80
		Beta	1.26

	Price % Change	Rel S&P 500%
4 Week	-40.46%	-39.09%
13 Week	-49.62%	-51.08%
52 Week	-57.15%	-47.39%
Year to Date	-44.34%	-49.87%

Profit & Loss Item Exchange Rate: USD 1 = CNY 6.46438

Balance Sheet Item Exchange Rate: USD 1 = CNY 6.294

Corporate Overview

Location
1809 Jianhu Road
Kexi Industrial District
Ke Qiao Town
Shaoxing, 312030
China

Tel:	86-575-84138692
Fax:	86-575-84886600

en.jgtec.com.cn

Quote Symbol - Exchange
002006 - Shenzhen Stock Exchange
Sales CNY(mil):	2,351.4
Assets CNY(mil):	2,695.6
Employees:	904
Fiscal Year End:	31-Dec-2011

Industry:	Miscellaneous Capital Goods

Incorporation Date:	10-Sep-2000
Company Type:	Public Independent
Quoted Status:	Quoted

Secretary of the Board, Deputy General Manager:	Weiming Huang

Industry Codes

ANZSIC 2006 Codes:
2469	-	Other Specialised Machinery and Equipment Manufacturing
2439	-	Other Electrical Equipment Manufacturing
2599	-	Other Manufacturing Not Elsewhere Classified
2429	-	Other Electronic Equipment Manufacturing

NACE 2002 Codes:
2954	-	Manufacture of machinery for textile, apparel and leather production
3663	-	Other manufacturing not elsewhere classified
3162	-	Manufacture of other electrical equipment not elsewhere classified
3210	-	Manufacture of electronic valves and tubes and other electronic components
2924	-	Manufacture of other general purpose machinery not elsewhere classified

NAICS 2002 Codes:
339999	-	All Other Miscellaneous Manufacturing
333292	-	Textile Machinery Manufacturing
334413	-	Semiconductor and Related Device Manufacturing
335999	-	All Other Miscellaneous Electrical Equipment and Component Manufacturing
333298	-	All Other Industrial Machinery Manufacturing

US SIC 1987:
3674	-	Semiconductors and Related Devices
3699	-	Electrical Machinery, Equipment, and Supplies, Not Elsewhere Classified
3552	-	Textile Machinery
3999	-	Manufacturing Industries, Not Elsewhere Classified
3559	-	Special Industry Machinery, Not Elsewhere Classified

UK SIC 2003:
3210	-	Manufacture of electronic valves and tubes and other electronic components
3162	-	Manufacture of other electrical equipment not elsewhere classified
2924	-	Manufacture of other general purpose machinery not elsewhere classified
2954	-	Manufacture of machinery for textile, apparel and leather production
3663	-	Other manufacturing not elsewhere classified

Business Description

Zhejiang Jinggong Science & Technology Co., Ltd is principally engaged in the research, development, manufacture and sale of special purpose machineries and equipment. The Company mainly provides solar energy photovoltaic machineries, new type construction and construction material special purpose machineries, light textile special purpose machineries, solar energy polysilicon chips, solar energy polysilicon ingots and engineering machineries, among others. Through its subsidiaries, the Company is also involved in the design, development, production and distribution of mechanical and electronic integration products and electrical control systems, as well as the refitting of special purpose vehicles and the production of chemical dangerous cargo special troughs and jars, among others. The Company distributes its products in both domestic and overseas markets. For the six months ended 30 June 2011, Zhejiang Jinggong Science & Tech Co., Ltd.'s total revenues totaled RMB1.26B, up from RMB442.8M. The Company's net income totaled RMB221.0M, up from RMB13.7M. Total revenues reflect higher sales due to increased market demand for the Company's products and effective marketing strategy. Net income also benefited from the higher gross profit margin, as well as decreased financing expense.

More Business Descriptions

Manufacture of special purpose machinery for use in the textile and engineering industries

All Other General Purpose Machinery Manufacturing

Financial Data

Financials in:	CNY(mil)
Revenue:	2,351.4
Net Income:	401.7
Assets:	2,695.6
Long Term Debt:	0.0
Total Liabilities:	1,447.1
Working Capital:	0.0
Date of Financial Data:	31-Dec-2011

1 Year Growth

141.2%

340.5%

57.2%

Market Data

Quote Symbol:	002006
Exchange:	Shenzhen Stock Exchange
Currency:	CNY
Stock Price:	13.2
Stock Price Date:	05-18-2012
52 Week Price Change %:	-57.2
Market Value (mil):	5,994,457.0
SEDOL:	B01KBF0
ISIN:	CNE000001JL2
Equity and Dept Distribution:
06/2006, Scrip Issue, 2 new shares for every 10 shares held. FY'03 & FY'04 Q2s are 6 month value. FY'07 Q1 financials are RES due to accouting change. 5/2008, Scrip Issue, 5 new shares for every 10 shares held. Q2 I/S, C/F 08 are restated. FY'10 Q2 IS, CF are RES. 09/2011, Scrip Issue, 10 shares for every 10 shares issued

Key Corporate Relationships

Auditor:	Pan-China CPA
Auditor:	Pan-China CPA, Zhejiang Dongfang

Executives Report

Board of Directors

Name	Title	Function
Jianjiang Sun	Chairman of the Board	Chairman
Biography Mr. Sun Jianjiang has been Chairman of the Board in Zhejiang Jinggong Science & Technology Co., Ltd. He also serves as Vice Chairman in Jinggong Group, as well as Director in another company. He used to be General Manager in the Company and two Shaoxing-based companies, and Head of a Shaoxing-based machinery factory. Age: 48
Fenghua Yu	Vice Chairman of the Board	Vice-Chairman
Hang Zhu	Co-Vice Chairman	Vice-Chairman
Leping Cai	Independent Director	Director/Board Member
Biography Mr. Cai Leping has been Independent Director in Zhejiang Jinggong Science & Technology Co., Ltd. since August 29, 2006. He holds a Bachelor's degree in Law and a Master's degree in Law. Age: 42
Jinming Chang	Director	Director/Board Member
Biography Mr. Chang Jinming is serving as Director in Zhejiang Jinggong Science & Technology Co., Ltd. since August 2009. He used to be Vice Chairman of the Board in the Company, as well as Section Head-Construction Technology in another company. Age: 76
Jiangnan Han	Independent Director	Director/Board Member
Yueshun Jin	General Manager, Director	Director/Board Member
Biography Mr. Jin Yueshun has been serving as Executive Deputy General Manager and Director in Zhejiang Jinggong Science & Technology Co., Ltd. He used to be Deputy General Manager and Executive Deputy General Manager in the Company. He is also Chairman of the Board and General Manager in a Shaoxing-based solar energy technology company. He also used to serve as Deputy Head of a Shaoxing-based machine tool company, Deputy General Manager in two other Shaoxing-based companies. Age: 50
Liangshun Jin	Director	Director/Board Member
Shengxiao Li	Independent Director	Director/Board Member
Biography Mr. Li Shengxiao has been Independent Director in Zhejiang Jinggong Science & Technology Co., Ltd since August 29, 2006. He is Professor of Shaoxing University, China. He holds a Master's degree in Law. Age: 49 Education: Zhejiang University, M (Law) Zhejiang University
Min Lou	Director	Director/Board Member
Zhiming Shao	Director	Director/Board Member
Biography Mr. Shao Zhiming has been Director in Zhejiang Jinggong Science & Technology Co., Ltd. He is also Executive Vice President and Director in Jinggong Group, Chairman of the Board and General Manager in a Hubei-based company, Chairman of the Board in an automobile company and a sound energy technology company, as well as Director in six other companies. He used to be General Manager in the Company and Deputy General Manager in a Shaoxing-based technical company and Head of a Shaoxing-based machinery factory, as well as Deputy General Manager in a Shaoxing-based textile machinery company. Age: 47
Yongfa Wang	Deputy General Manager, Director	Director/Board Member
Biography Mr. Wang Yongfa has been Deputy General Manager and Director in Zhejiang Jinggong Science & Technology Co., Ltd since August 29, 2006. He used to be Executive Deputy General Manager in the Company. He also served as Deputy General Manager and Manager-Sales in a Shaoxing-based technical company, and Deputy Head of a Shaoxing-based machinery factory. Age: 48

Executives

Name	Title	Function
Yueshun Jin	General Manager, Director	Division Head Executive
Biography Mr. Jin Yueshun has been serving as Executive Deputy General Manager and Director in Zhejiang Jinggong Science & Technology Co., Ltd. He used to be Deputy General Manager and Executive Deputy General Manager in the Company. He is also Chairman of the Board and General Manager in a Shaoxing-based solar energy technology company. He also used to serve as Deputy Head of a Shaoxing-based machine tool company, Deputy General Manager in two other Shaoxing-based companies. Age: 50
Weiming Huang	Secretary of the Board, Deputy General Manager	Company Secretary
Biography Mr. Huang Weiming has been Deputy General Manager and Secretary of the Board in Zhejiang Jinggong Science & Technology Co., Ltd since September 1, 2009. He was Finance Director in the Company. Age: 40
Senlin Qiu	Finance Director	Finance Executive
Biography Mr. Qiu Senlin has been Finance Director in Zhejiang Jinggong Science & Technology Co., Ltd. He was Head of General Office in the Company. He was also Manager of Finance, Chief Accounting Officer and Finance Director in two other companies. Age: 55
Huili Sun	Chief Accounting Officer	Accounting Executive
Qinghua Xia	Manager-Investments	Investment Executive
Zhijuan Wang	Deputy General Manager	Other
Biography Ms. Wang Zhijuan has been Deputy General Manager in Zhejiang Jinggong Science & Technology Co., Ltd since April 25, 2009. She used to be Deputy General Manager of Zhejiang China Light & Textile Industrial. Age: 55
Haixiang Wu	Executive Deputy General Manager	Other
Biography Mr. Wu Haixiang has been Executive Deputy General Manager in Zhejiang Jinggong Science & Technology Co., Ltd. He used to be Deputy General Manager in three companies from January 1996 to March 2001, and Deputy Head of a Shaoxing-based machine tool factory from January 1995 to December 1995. Age: 49

Significant Developments

Zhejiang Jinggong Science & Technology Co., Ltd Announces FY 2011 Dividend Payment Date

May 08, 2012

Zhejiang Jinggong Science & Technology Co., Ltd announced that it will pay a cash dividend of RMB 0.9 per 10 shares (after tax) and use additional paid-in capital to distribute five new shares for every 10 shares, to shareholders of record on May 15, 2012. The Company's shares will trade ex-right and ex-dividend on May 16, 2012.

Zhejiang Jinggong Science & Technology Co., Ltd Announces FY 2011 Dividend Payment

Apr 07, 2012

Zhejiang Jinggong Science & Technology Co., Ltd announced that it will use undistributed profits to pay a cash dividend of RMB 1 per 10 shares (pre-tax) and use additional paid-in capital to distribute five new shares for every 10 shares, to shareholders for fiscal year 2011.

Zhejiang Jinggong Science & Technology Co., Ltd Announces FY 2012 Q1 Net Profit Outlook

Mar 31, 2012

Zhejiang Jinggong Science & Technology Co., Ltd announced that it expects its net profit for the first quarter of fiscal year (FY) 2012 to be RMB 8 million to RMB 12 million, or to decrease by 87.05% to 91.37%, compared to the net profit of the same period in FY 2011 (RMB 92,686,000). The Company cited the decreased market demands for its main products as the main reason for the forecast.

Zhejiang Jinggong Science & Technology Co., Ltd's Subsidiary Receives Subsidy

Jan 17, 2012

Zhejiang Jinggong Science & Technology Co., Ltd announced that the Company's subsidiary, a Zhejiang-based new energy company, has received a subsidy of RMB 31.5 million as golden sun special funds.

Zhejiang Jinggong Science & Technology Co., Ltd to Set up Joint Venture

Sep 15, 2011

Zhejiang Jinggong Science & Technology Co., Ltd announced that it will invest RMB 35 million to set up a joint venture with a Hong Kong-based technology company, with each to hold a 40% and a 60% stake. The joint venture will be with a registered capital of RMB 87.5 million and be engaged in the research and development of polysilicon production technologies, and production and sale of key equipment.

Zhejiang Jinggong Science & Technology Co., Ltd Announces FY 2011 H1 Dividend Payment Date

Sep 06, 2011

Zhejiang Jinggong Science & Technology Co., Ltd announced that it will use additional paid-in capital to issue 10 new shares for every 10 shares to shareholders of record on September 9, 2011. The Company's shares will be traded ex-right on September 13, 2011.

Zhejiang Jinggong Science & Technology Co., Ltd Announces FY 2011 H1 Dividend Payment

Aug 12, 2011

Zhejiang Jinggong Science & Technology Co., Ltd announced that it will use additional paid-in capital to issue new shares, with a ratio of every 10 shares to be given 10 new shares.

Zhejiang Jinggong Science & Technology Co., Ltd Revises FY 2011 H1 Net Profit Outlook

Jul 15, 2011

Zhejiang Jinggong Science & Technology Co., Ltd announced that it revised its net profit outlook for the first half of fiscal year 2011 from RMB 210-215 million to RMB 220-225 million, compared to that of same period last year (RMB 10,465,200). The Company cited the higher finished production than expected as the main reason for this amendment.

Annual Income Statement

Zhejiang Jinggong Science & Tech. Co.,

Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Tian Jian CPA
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	363.7	144.0	93.7	88.3	84.5
Revenue	363.7	144.0	93.7	88.3	84.5
Total Revenue	363.7	144.0	93.7	88.3	84.5
Cost of Revenue	246.6	110.1	76.4	69.7	69.0
Excise Taxes Payments	1.4	0.4	0.5	0.3	0.3
Cost of Revenue, Total	248.0	110.5	76.8	70.0	69.2
Gross Profit	115.7	33.5	16.9	18.3	15.3
Selling/General/Administrative Expense	30.0	15.7	14.7	13.1	10.4
Total Selling/General/Administrative Expenses	30.0	15.7	14.7	13.1	10.4
Interest Expense - Operating	4.5	4.7	5.8	-	-
Interest Expense - Net Operating	4.5	4.7	5.8	-	-
Interest Income - Operating	-2.6	-0.6	-1.5	-	-
Investment Income - Operating	0.3	-2.7	-5.7	0.4	0.1
Interest/Investment Income - Operating	-2.3	-3.3	-7.2	0.4	0.1
Interest Expense (Income) - Net Operating	-	-	-	6.9	4.1
Interest Expense (Income) - Net Operating Total	2.2	1.4	-1.4	7.3	4.2
Impairment-Assets Held for Use	9.2	0.5	3.0	5.4	0.3
Unusual Expense (Income)	9.2	0.5	3.0	5.4	0.3
Other Operating Expense	0.5	0.1	0.1	-	-
Other Operating Expenses, Total	0.5	0.1	0.1	-	-
Total Operating Expense	289.8	128.2	93.2	95.8	84.1
Operating Income	74.0	15.8	0.5	-7.6	0.4
Gain (Loss) on Sale of Assets	-0.8	0.0	0.3	0.0	0.1
Other Non-Operating Income (Expense)	-0.4	0.2	0.7	0.5	0.9
Other, Net	-0.4	0.2	0.7	0.5	0.9
Income Before Tax	72.8	16.0	1.5	-7.1	1.3
Total Income Tax	11.8	1.7	0.5	0.9	0.6
Income After Tax	60.9	14.3	1.0	-8.0	0.7
Minority Interest	1.2	-0.8	2.4	1.1	0.2
Net Income Before Extraord Items	62.1	13.5	3.4	-6.9	1.0
Net Income	62.1	13.5	3.4	-6.9	1.0
Income Available to Common Excl Extraord Items	62.1	13.5	3.4	-6.9	1.0
Income Available to Common Incl Extraord Items	62.1	13.5	3.4	-6.9	1.0
Basic/Primary Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Basic EPS Excl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Basic/Primary EPS Incl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Dilution Adjustment	-	-	0.0	0.0	-
Diluted Net Income	62.1	13.5	3.4	-6.9	1.0
Diluted Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Diluted EPS Excl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Diluted EPS Incl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Dividends per Share - Common Stock Primary Issue	0.01	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	4.7	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	4.5	4.7	5.8	-	-
Interest Capitalized, Supplemental	-	-	-0.1	-	-
Depreciation, Supplemental	6.2	5.1	4.3	3.9	3.2
Total Special Items	10.0	0.6	2.7	5.4	0.2
Normalized Income Before Tax	82.7	16.5	4.2	-1.7	1.6
Effect of Special Items on Income Taxes	1.6	0.1	0.9	1.9	0.1
Inc Tax Ex Impact of Sp Items	13.5	1.8	1.4	2.8	0.7
Normalized Income After Tax	69.3	14.8	2.8	-4.5	0.9
Normalized Inc. Avail to Com.	70.5	14.0	5.2	-3.4	1.1
Basic Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Diluted Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Amort of Intangibles, Supplemental	0.3	0.2	0.3	0.3	0.3
Advertising Expense, Supplemental	0.9	0.5	0.4	-	-
Research & Development Exp, Supplemental	7.5	3.0	3.7	-	-
Normalized EBIT	85.3	17.7	2.1	5.1	4.9
Normalized EBITDA	91.7	23.0	6.7	9.3	8.4
Current Tax - Domestic	12.9	1.9	0.6	0.4	0.7
Current Tax - Total	12.9	1.9	0.6	0.4	0.7
Deferred Tax - Domestic	-1.1	-0.2	-0.1	0.5	-0.1
Deferred Tax - Total	-1.1	-0.2	-0.1	0.5	-0.1
Income Tax - Total	11.8	1.7	0.5	0.9	0.6

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate	6.294	6.5897	6.827	6.823	7.3041
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Tian Jian CPA
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	85.5	62.8	51.3	48.5	30.2
Cash and Short Term Investments	85.5	62.8	51.3	48.5	30.2
Accounts Receivable - Trade, Gross	112.2	27.2	23.3	19.9	20.7
Provision for Doubtful Accounts	-9.7	-4.3	-3.9	-3.7	-2.5
Trade Accounts Receivable - Net	102.5	22.9	19.4	16.2	18.1
Notes Receivable - Short Term	17.7	17.8	11.1	2.6	4.7
Other Receivables	1.6	1.7	4.0	1.7	3.6
Total Receivables, Net	121.8	42.4	34.5	20.5	26.4
Inventories - Finished Goods	39.1	25.1	16.2	12.7	8.8
Inventories - Work In Progress	38.8	19.1	7.9	10.9	10.7
Inventories - Raw Materials	29.8	19.9	8.4	15.2	10.7
Inventories - Other	-4.6	0.6	0.3	-3.4	0.5
Total Inventory	103.2	64.7	32.9	35.4	30.7
Prepaid Expenses	6.6	6.7	2.6	5.5	5.3
Total Current Assets	317.1	176.6	121.2	109.8	92.6
Buildings	50.6	43.1	40.2	37.9	34.3
Machinery/Equipment	66.1	42.2	38.5	30.7	25.4
Construction in Progress	5.2	13.7	1.2	10.3	5.4
Property/Plant/Equipment - Gross	121.8	99.0	79.8	78.8	65.1
Accumulated Depreciation	-31.9	-25.3	-19.7	-17.6	-13.3
Property/Plant/Equipment - Net	89.9	73.7	60.2	61.2	51.8
Goodwill, Net	0.5	0.5	0.5	0.5	0.5
Intangibles - Gross	10.3	9.8	9.4	13.4	12.4
Accumulated Intangible Amortization	-1.9	-1.6	-1.3	-1.3	-0.9
Intangibles, Net	8.4	8.2	8.2	12.1	11.5
LT Investment - Affiliate Companies	10.1	0.3	4.1	3.8	3.8
LT Investments - Other	-	-	0.4	4.7	4.9
Long Term Investments	10.1	0.3	4.5	8.5	8.8
Deferred Charges	0.3	0.1	0.0	0.0	0.3
Deferred Income Tax - Long Term Asset	1.9	0.8	0.6	0.5	0.9
Other Long Term Assets, Total	2.3	0.9	0.6	0.5	1.2
Total Assets	428.3	260.2	195.1	192.5	166.3
Accounts Payable	52.6	40.8	24.0	15.0	14.8
Accrued Expenses	8.3	1.5	1.4	1.8	1.9
Notes Payable/Short Term Debt	110.2	91.3	100.9	123.5	85.0
Current Portion - Long Term Debt/Capital Leases	0.0	6.8	5.1	0.8	3.8
Dividends Payable	0.0	0.1	-	-	-
Customer Advances	41.4	56.0	8.1	4.9	4.1
Income Taxes Payable	13.9	-1.5	-0.2	0.5	1.0
Other Current liabilities, Total	55.3	54.6	7.9	5.4	5.1
Total Current Liabilities	226.3	195.1	139.3	146.5	110.6
Long Term Debt	-	-	6.6	0.0	-
Total Long Term Debt	0.0	0.0	6.6	0.0	0.0
Total Debt	110.2	98.1	112.6	124.3	88.8
Minority Interest	-0.2	1.0	2.1	4.5	5.4
Other Long Term Liabilities	3.8	3.2	1.1	0.7	0.2
Other Liabilities, Total	3.8	3.2	1.1	0.7	0.2
Total Liabilities	229.9	199.3	149.1	151.7	116.2
Common Stock	48.2	21.9	21.1	21.1	13.1
Common Stock	48.2	21.9	21.1	21.1	13.1
Additional Paid-In Capital	65.8	19.5	19.3	17.6	28.3
Retained Earnings (Accumulated Deficit)	84.3	19.6	5.6	2.2	8.6
Total Equity	198.4	60.9	46.0	40.9	50.1
Total Liabilities & Shareholders’ Equity	428.3	260.2	195.1	192.5	166.3
Shares Outstanding - Common Stock Primary Issue	455.2	432.0	432.0	432.0	432.0
Total Common Shares Outstanding	455.2	432.0	432.0	432.0	432.0
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	0.0
Employees	904	797	680	704	711
Number of Common Shareholders	53,646	26,459	23,366	20,026	14,852
Accumulated Intangible Amort, Suppl.	1.9	1.6	1.3	1.3	0.9
Deferred Revenue - Current	41.4	56.0	8.1	4.9	4.1
Total Long Term Debt, Supplemental	-	6.8	5.1	0.8	-
Long Term Debt Maturing within 1 Year	-	6.8	5.1	0.8	-
Long Term Debt Matur. in Year 6 & Beyond	-	0.0	0.0	0.0	-

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Tian Jian CPA
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash Receipts	245.5	179.9	74.2	89.5	89.1
Cash Payments	-238.6	-125.0	-53.4	-76.3	-86.6
Cash Taxes Paid	-11.2	-3.2	-3.7	-3.4	0.0
Other Operating Cash Flow	4.7	-18.6	5.5	-2.6	1.5
Changes in Working Capital	4.7	-18.6	5.5	-2.6	1.5
Cash from Operating Activities	0.4	33.1	22.7	7.2	4.0
Purchase of Fixed Assets	-10.4	-14.5	-7.0	-8.1	-5.0
Capital Expenditures	-10.4	-14.5	-7.0	-8.1	-5.0
Sale of Business	0.0	6.7	6.6	-	-
Sale of Fixed Assets	0.2	0.1	0.0	0.6	0.1
Purchase of Investments	-9.6	-2.4	-0.1	-5.7	-6.9
Other Investing Cash Flow Items, Total	-9.4	4.4	6.5	-5.1	-6.8
Cash from Investing Activities	-19.8	-10.1	-0.5	-13.2	-11.8
Other Financing Cash Flow	64.4	-11.8	-16.0	-0.4	3.6
Financing Cash Flow Items	64.4	-11.8	-16.0	-0.4	3.6
Total Debt Issued	101.7	88.1	131.3	100.1	96.3
Total Debt Reduction	-112.6	-102.0	-111.9	-99.9	-89.2
Issuance (Retirement) of Debt, Net	-10.9	-13.9	19.4	0.2	7.1
Cash from Financing Activities	53.5	-25.6	3.4	-0.2	10.7
Foreign Exchange Effects	0.1	-0.2	0.0	0.0	-0.1
Net Change in Cash	34.1	-2.8	25.6	-6.2	2.8
Net Cash - Beginning Balance	37.7	38.9	12.9	18.9	14.5
Net Cash - Ending Balance	71.8	36.0	38.5	12.7	17.3
Depreciation	6.2	5.1	4.3	3.9	3.2

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Orient Public Accountants
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
In Operating Income	363.7	144.0	93.7	88.3	84.5
Total Revenue	363.7	144.0	93.7	88.3	84.5
Cost of Good Sold	246.6	110.1	76.4	69.7	69.0
Business Tax	1.4	0.4	0.5	0.3	0.3
Marketing expenses	7.9	4.8	3.7	4.1	4.0
Administrative expenses	22.1	10.9	11.0	9.1	6.4
Finance Expense	-	-	-	6.9	4.1
Interest Expense	4.5	4.7	5.8	-	-
Interest Income	-2.6	-0.6	-1.5	-	-
Foreign Exchange Gain or Loss	0.2	0.2	-0.1	-	-
Other Financial Costs	0.5	0.1	0.1	-	-
Assets depreciation loss	9.2	0.5	3.0	5.4	0.3
Gain/Loss from Change in Fair Value	-	-	-0.1	0.1	-
Investment Income	0.0	-2.9	-5.5	0.3	0.1
Total Operating Expense	289.8	128.2	93.2	95.8	84.1
Gain from Sale of Non-Current Assets	-	-	-	0.1	0.1
Gain from Sale of Fixed Assets	0.0	0.0	0.0	-	-
Gain from Sale of Intangible Assets	1.3	-	0.3	-	-
Non - Operating Income	-	0.4	0.8	0.6	1.0
Loss from Sale of Fxed Assets	-2.1	0.0	0.0	-0.1	0.0
Non - Operating Expense	-0.4	-0.1	-0.2	-0.1	-0.1
Net Income Before Taxes	72.8	16.0	1.5	-7.1	1.3
Provision for Income Taxes	11.8	1.7	0.5	0.9	0.6
Net Income After Taxes	60.9	14.3	1.0	-8.0	0.7
Minority Interest	1.2	-0.8	2.4	1.1	0.2
Net Income Before Extra. Items	62.1	13.5	3.4	-6.9	1.0
Net Income	62.1	13.5	3.4	-6.9	1.0
Income Available to Com Excl ExtraOrd	62.1	13.5	3.4	-6.9	1.0
Income Available to Com Incl ExtraOrd	62.1	13.5	3.4	-6.9	1.0
Basic Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Basic EPS Excluding ExtraOrdinary Items	0.14	0.03	0.01	-0.02	0.00
Basic EPS Including ExtraOrdinary Items	0.14	0.03	0.01	-0.02	0.00
Dilution Adjustment	-	-	0.0	0.0	-
Diluted Net Income	62.1	13.5	3.4	-6.9	1.0
Diluted Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Diluted EPS Excluding ExtraOrd Items	0.14	0.03	0.01	-0.02	0.00
Diluted EPS Including ExtraOrd Items	0.14	0.03	0.01	-0.02	0.00
DPS-A Share	0.01	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	4.7	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	82.7	16.5	4.2	-1.7	1.6
Inc Tax Ex Impact of Sp Items	13.5	1.8	1.4	2.8	0.7
Normalized Income After Taxes	69.3	14.8	2.8	-4.5	0.9
Normalized Inc. Avail to Com.	70.5	14.0	5.2	-3.4	1.1
Basic Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Diluted Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Interest Expense	4.5	4.7	5.8	-	-
Interest Capitalized	-	-	-0.1	-	-
Depreciation	6.2	5.1	4.3	3.9	3.2
Amort of Intangibles	0.3	0.2	0.3	0.3	0.3
Advertising Expense, Supplemental	0.9	0.5	0.4	-	-
Research & Development Exp, Supplemental	7.5	3.0	3.7	-	-
Current Tax	12.9	1.9	0.6	0.4	0.7
Current Tax - Total	12.9	1.9	0.6	0.4	0.7
Deferred Tax	-1.1	-0.2	-0.1	0.5	-0.1
Deferred Tax - Total	-1.1	-0.2	-0.1	0.5	-0.1
Income Tax - Total	11.8	1.7	0.5	0.9	0.6

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate	6.294	6.5897	6.827	6.823	7.3041
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Orient Public Accountants
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	85.5	62.8	51.3	48.5	30.2
Note Receivables	17.7	17.8	11.1	2.6	4.7
Accounts Receivable	112.2	27.2	23.3	19.9	20.7
Provision for Doubtful Accounts	-9.7	-4.3	-3.9	-3.7	-2.5
Other Receivables	1.6	1.7	4.0	1.7	3.6
Prepayments	6.6	6.7	2.6	5.5	5.3
Supplies in Transit	-	-	-	0.5	0.0
Raw Materials	29.8	19.9	8.4	14.7	10.7
Working in Progress	38.8	19.1	7.9	9.9	9.9
Semi-Finished Goods	-	-	-	1.0	0.8
Finished Goods	39.1	25.1	16.2	12.7	8.8
Materials on Subcontract	0.4	0.6	0.3	0.1	0.6
Provision for Inventory	-5.0	-	-	-3.5	-0.1
Total Current Assets	317.1	176.6	121.2	109.8	92.6
LT Equity Investments	10.1	0.3	4.1	3.8	3.8
Real Estate Investment	-	-	0.4	4.7	4.9
Buildings	50.6	43.1	40.2	37.9	34.3
Machinery Equipments	59.9	36.9	33.4	26.0	21.9
Office & Electronic Equipments	1.5	1.1	1.2	1.3	1.1
Transportation Equipment	4.8	4.1	3.9	3.4	2.4
Depreciation	-31.9	-25.3	-19.7	-17.6	-13.3
Construction Material	-	-	0.0	0.0	0.0
Under-construction projects	5.2	13.7	1.1	10.3	5.4
Intangible Assets Gross	10.3	9.8	9.4	13.4	12.4
Accumulated Amort. of Intangibles	-1.9	-1.6	-1.3	-1.3	-0.9
Goodwill	0.5	0.5	0.5	0.5	0.5
Long-term prepaid expenses	0.3	0.1	0.0	0.0	0.3
Deferred Tax Assets	1.9	0.8	0.6	0.5	0.9
Total Assets	428.3	260.2	195.1	192.5	166.3
ST Borrowings	64.2	65.2	71.6	71.2	62.5
Financial Liabilities for Trading	-	-	-	0.1	-
Note Payables	46.0	26.1	29.4	52.2	22.5
Acct. Payables	52.6	40.8	24.0	15.0	14.8
Advance receipts	41.4	56.0	8.1	4.9	4.1
Accrued Payroll	4.4	0.9	0.3	0.5	0.3
Dividend Payable	0.0	0.1	-	-	-
Taxes payable	13.9	-1.5	-0.2	0.5	1.0
Interest Payable	0.1	0.1	0.1	0.1	0.1
Other Creditor	3.7	0.5	0.9	1.2	1.4
Current Portion of LT Debt	0.0	6.8	5.1	0.8	3.8
Total Current Liabilities	226.3	195.1	139.3	146.5	110.6
Long Term Borrowing	-	-	6.6	0.0	-
Total Long Term Debt	-	-	6.6	0.0	-
Long Term Payable	0.0	0.0	0.0	0.5	0.0
Other Liabilities-Non Current	3.7	3.2	1.1	0.2	0.2
Special Payable	0.1	-	-	-	-
Minority Stockholder''s Interest	-0.2	1.0	2.1	4.5	5.4
Total Liabilities	229.9	199.3	149.1	151.7	116.2
Common Stock	48.2	21.9	21.1	21.1	13.1
Paid in Capital	65.8	19.5	19.3	17.6	28.3
Surplus reserves	11.5	4.0	2.9	2.6	2.4
Retained Reserves	72.9	15.6	2.6	-0.4	6.2
Total Equity	198.4	60.9	46.0	40.9	50.1
Total Liabilities & Shareholders' Equity	428.3	260.2	195.1	192.5	166.3
S/O-A Share	455.2	432.0	432.0	432.0	432.0
Total Common Shares Outstanding	455.2	432.0	432.0	432.0	432.0
T/S-A Share	0.0	0.0	0.0	0.0	0.0
Customer Advance	41.4	56.0	8.1	4.9	4.1
Accumulated Amort. of Intangibles	1.9	1.6	1.3	1.3	0.9
Full-Time Employees	904	797	680	704	711
Number of Common Shareholders	53,646	26,459	23,366	20,026	14,852
Current maturities	-	6.8	5.1	0.8	-
Total Long Term Debt, Supplemental	-	6.8	5.1	0.8	-

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Orient Public Accountants
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash from Sales of Goods & Services	245.5	179.9	74.2	89.5	89.1
Cash Payments for Goods & Services	-238.6	-125.0	-53.4	-76.3	-86.6
Refund of Taxes	1.8	2.0	0.8	1.1	1.6
Other Operating Cash Received	19.3	8.5	23.1	11.6	13.1
Tax Paid	-13.0	-5.2	-4.5	-4.5	-1.5
Cash paid for other operating activities	-14.6	-27.1	-17.6	-14.2	-11.6
Cash from Operating Activities	0.4	33.1	22.7	7.2	4.0
Sales of Fixed, Intangibles and Others	0.2	0.1	0.0	0.6	0.1
Cash from Disposal of Subsidiaries	0.0	6.7	6.6	-	-
Capital Expenditure	-10.4	-14.5	-7.0	-8.1	-5.0
Purchase of Investments	-9.6	-2.4	-0.1	-5.7	-6.9
Cash from Investing Activities	-19.8	-10.1	-0.5	-13.2	-11.8
Cash received from capital contributions	68.9	-	-	-	1.9
Proceeds From Borrowings	101.7	88.1	131.3	100.1	96.3
Other cash received concerning financing	0.0	2.9	72.7	73.0	16.6
Repayment of Borrowings	-112.6	-102.0	-111.9	-99.9	-89.2
Cash paid for dividend and profit distri	-4.5	-4.7	-4.8	-5.5	-4.3
Other Financing Cash Paid	0.0	-10.0	-83.9	-67.9	-10.5
Cash from Financing Activities	53.5	-25.6	3.4	-0.2	10.7
Foreign Exchange Effects	0.1	-0.2	0.0	0.0	-0.1
Net Change in Cash	34.1	-2.8	25.6	-6.2	2.8
Net Cash - Beginning Balance	37.7	38.9	12.9	18.9	14.5
Net Cash - Ending Balance	71.8	36.0	38.5	12.7	17.3
Depreciation	6.2	5.1	4.3	3.9	3.2
Amortization of Intangibles	0.3	0.2	0.3	0.3	0.3
hejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/					Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 31-Mar-2012	Quarter Ending Yr Ago	Annual Year End 31-Dec-2011	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	41.2	-47.51%	363.7	141.24%	56.49%	41.80%
Operating Income1	1.6	-90.64%	74.0	348.21%	-	131.19%
Income Available to Common Excl Extraord Items1	1.7	-88.40%	62.1	340.53%	-	153.21%
Basic EPS Excl Extraord Items1	0.00	-89.00%	0.14	327.10%	-	151.84%
Capital Expenditures2	3.8	-32.90%	10.4	-31.25%	6.28%	-7.49%
Cash from Operating Activities2	-5.0	-	0.4	-98.89%	-63.30%	-
Free Cash Flow	-8.8	-	-10.3	-	-	-
Total Assets3	401.6	35.78%	428.3	57.20%	27.07%	21.62%
Total Liabilities3	201.8	-7.17%	229.9	10.18%	11.82%	16.62%
Total Long Term Debt3	0.0	-	0.0	-	-	-
Employees3	-	-	904	13.43%	8.69%	2.37%
Total Common Shares Outstanding3	455.2	5.36%	455.2	5.36%	1.76%	1.05%
1-ExchangeRate: CNY to USD Average for Period	6.309123	Â	6.464380	Â	Â	Â
2-ExchangeRate: CNY to USD Average for Period	6.309123	Â	6.464380	Â	Â	Â
3-ExchangeRate: CNY to USD Period End Date	6.303024	Â	6.294000	Â	Â	Â

Utility Industry Specific USD (mil)
Â	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Deferred Charges3	0.3	0.1	0.0	0.0	0.3
3-ExchangeRate: CNY to USD Period End Date	6.294000	6.589700	6.827000	6.823000	7.304100

Key Ratios
Â	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Profitability
Gross Margin	31.82%	23.26%	18.02%	20.68%	18.07%
Operating Margin	20.33%	10.94%	0.56%	-8.57%	0.44%
Pretax Margin	20.01%	11.09%	1.61%	-8.04%	1.57%
Net Profit Margin	17.08%	9.35%	3.63%	-7.81%	1.13%
Financial Strength
Current Ratio	1.40	0.91	0.87	0.75	0.84
Long Term Debt/Equity	0.00	0.00	0.14	0.00	0.00
Total Debt/Equity	0.56	1.61	2.45	3.04	1.77
Interest Coverage	-	-	-	-0.10	1.09
Management Effectiveness
Return on Assets	17.86%	6.34%	0.53%	-4.42%	0.50%
Return on Equity	48.69%	25.49%	7.84%	-14.88%	2.05%
Efficiency
Receivables Turnover	4.49	3.79	3.41	3.69	3.45
Inventory Turnover	2.98	2.30	2.25	2.09	2.80
Asset Turnover	1.07	0.64	0.48	0.49	0.58

Market Valuation USD (mil)
P/E (TTM)	18.49	.	Enterprise Value2	979.8
Price/Sales (TTM)	2.83	.	Enterprise Value/Revenue (TTM)	2.92
Price/Book (MRQ)	4.76	.	Enterprise Value/EBITDA (TTM)	15.59
Market Cap as of 18-May-20121		.
1-ExchangeRate: CNY to USD on 18-May-2012	Â
2-ExchangeRate: CNY to USD on 31-Mar-2012	6.303024

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Financial Strength
Current Ratio	1.40	0.91	0.87	0.75	0.84
Quick/Acid Test Ratio	0.92	0.54	0.62	0.47	0.51
Working Capital1	90.8	-18.5	-18.1	-36.6	-18.0
Long Term Debt/Equity	0.00	0.00	0.14	0.00	0.00
Total Debt/Equity	0.56	1.61	2.45	3.04	1.77
Long Term Debt/Total Capital	0.00	0.00	0.04	0.00	0.00
Total Debt/Total Capital	0.36	0.62	0.71	0.75	0.64
Interest Coverage	-	-	-	-0.10	1.09
Payout Ratio	7.40%	0.00%	0.00%	0.00%	0.00%
Effective Tax Rate	16.28%	10.65%	32.42%	-	45.01%
Total Capital1	308.6	159.0	158.6	165.2	138.9
Efficiency
Asset Turnover	1.07	0.64	0.48	0.49	0.58
Inventory Turnover	2.98	2.30	2.25	2.09	2.80
Days In Inventory	122.46	158.85	161.98	174.52	130.22
Receivables Turnover	4.49	3.79	3.41	3.69	3.45
Days Receivables Outstanding	81.22	96.39	106.94	99.03	105.68
Revenue/Employee2	413,261	185,584	137,934	127,743	123,752
Operating Income/Employee2	84,022	20,309	774	-10,950	546
EBITDA/Employee2	91,311	27,171	7,616	5,034	11,649
Profitability
Gross Margin	31.82%	23.26%	18.02%	20.68%	18.07%
Operating Margin	20.33%	10.94%	0.56%	-8.57%	0.44%
EBITDA Margin	22.10%	14.64%	5.52%	3.94%	9.41%
EBIT Margin	20.33%	10.94%	0.56%	-0.79%	5.26%
Pretax Margin	20.01%	11.09%	1.61%	-8.04%	1.57%
Net Profit Margin	17.08%	9.35%	3.63%	-7.81%	1.13%
COGS/Revenue	68.18%	76.74%	81.98%	79.32%	81.93%
SG&A Expense/Revenue	8.23%	10.92%	15.70%	14.89%	12.30%
Management Effectiveness
Return on Assets	17.86%	6.34%	0.53%	-4.42%	0.50%
Return on Equity	48.69%	25.49%	7.84%	-14.88%	2.05%
Valuation
Free Cash Flow/Share2	-0.02	0.04	0.04	0.00	0.00
Operating Cash Flow/Share 2	0.00	0.08	0.05	0.02	0.01
1-ExchangeRate: CNY to USD Period End Date	6.294	6.5897	6.827	6.823	7.3041
2-ExchangeRate: CNY to USD Average for Period	6.294	6.5897	6.827	6.823	7.3041

Current Market Multiples
Market Cap/Earnings (TTM)	18.49
Market Cap/Equity (MRQ)	4.76
Market Cap/Revenue (TTM)	2.83
Market Cap/EBIT (TTM)	15.14
Market Cap/EBITDA (TTM)	15.14
Enterprise Value/Earnings (TTM)	19.05
Enterprise Value/Equity (MRQ)	4.90
Enterprise Value/Revenue (TTM)	2.92
Enterprise Value/EBIT (TTM)	15.59
Enterprise Value/EBITDA (TTM)	15.59

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Income Statement Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Tian Jian CPA
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	363.7	144.0	93.7	88.3	84.5
Revenue	363.7	144.0	93.7	88.3	84.5
Total Revenue	363.7	144.0	93.7	88.3	84.5
Cost of Revenue	246.6	110.1	76.4	69.7	69.0
Excise Taxes Payments	1.4	0.4	0.5	0.3	0.3
Cost of Revenue, Total	248.0	110.5	76.8	70.0	69.2
Gross Profit	115.7	33.5	16.9	18.3	15.3
Selling/General/Administrative Expense	30.0	15.7	14.7	13.1	10.4
Total Selling/General/Administrative Expenses	30.0	15.7	14.7	13.1	10.4
Interest Expense - Operating	4.5	4.7	5.8	-	-
Interest Expense - Net Operating	4.5	4.7	5.8	-	-
Interest Income - Operating	-2.6	-0.6	-1.5	-	-
Investment Income - Operating	0.3	-2.7	-5.7	0.4	0.1
Interest/Investment Income - Operating	-2.3	-3.3	-7.2	0.4	0.1
Interest Expense (Income) - Net Operating	-	-	-	6.9	4.1
Interest Expense (Income) - Net Operating Total	2.2	1.4	-1.4	7.3	4.2
Impairment-Assets Held for Use	9.2	0.5	3.0	5.4	0.3
Unusual Expense (Income)	9.2	0.5	3.0	5.4	0.3
Other Operating Expense	0.5	0.1	0.1	-	-
Other Operating Expenses, Total	0.5	0.1	0.1	-	-
Total Operating Expense	289.8	128.2	93.2	95.8	84.1
Operating Income	74.0	15.8	0.5	-7.6	0.4
Gain (Loss) on Sale of Assets	-0.8	0.0	0.3	0.0	0.1
Other Non-Operating Income (Expense)	-0.4	0.2	0.7	0.5	0.9
Other, Net	-0.4	0.2	0.7	0.5	0.9
Income Before Tax	72.8	16.0	1.5	-7.1	1.3
Total Income Tax	11.8	1.7	0.5	0.9	0.6
Income After Tax	60.9	14.3	1.0	-8.0	0.7
Minority Interest	1.2	-0.8	2.4	1.1	0.2
Net Income Before Extraord Items	62.1	13.5	3.4	-6.9	1.0
Net Income	62.1	13.5	3.4	-6.9	1.0
Income Available to Common Excl Extraord Items	62.1	13.5	3.4	-6.9	1.0
Income Available to Common Incl Extraord Items	62.1	13.5	3.4	-6.9	1.0
Basic/Primary Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Basic EPS Excl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Basic/Primary EPS Incl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Dilution Adjustment	-	-	0.0	0.0	-
Diluted Net Income	62.1	13.5	3.4	-6.9	1.0
Diluted Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Diluted EPS Excl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Diluted EPS Incl Extraord Items	0.14	0.03	0.01	-0.02	0.00
Dividends per Share - Common Stock Primary Issue	0.01	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	4.7	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	4.5	4.7	5.8	-	-
Interest Capitalized, Supplemental	-	-	-0.1	-	-
Depreciation, Supplemental	6.2	5.1	4.3	3.9	3.2
Total Special Items	10.0	0.6	2.7	5.4	0.2
Normalized Income Before Tax	82.7	16.5	4.2	-1.7	1.6
Effect of Special Items on Income Taxes	1.6	0.1	0.9	1.9	0.1
Inc Tax Ex Impact of Sp Items	13.5	1.8	1.4	2.8	0.7
Normalized Income After Tax	69.3	14.8	2.8	-4.5	0.9
Normalized Inc. Avail to Com.	70.5	14.0	5.2	-3.4	1.1
Basic Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Diluted Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Amort of Intangibles, Supplemental	0.3	0.2	0.3	0.3	0.3
Advertising Expense, Supplemental	0.9	0.5	0.4	-	-
Research & Development Exp, Supplemental	7.5	3.0	3.7	-	-
Normalized EBIT	85.3	17.7	2.1	5.1	4.9
Normalized EBITDA	91.7	23.0	6.7	9.3	8.4
Current Tax - Domestic	12.9	1.9	0.6	0.4	0.7
Current Tax - Total	12.9	1.9	0.6	0.4	0.7
Deferred Tax - Domestic	-1.1	-0.2	-0.1	0.5	-0.1
Deferred Tax - Total	-1.1	-0.2	-0.1	0.5	-0.1
Income Tax - Total	11.8	1.7	0.5	0.9	0.6

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Interim Income Statement Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.309123	6.359548	6.417282	6.501206	6.583076
Net Sales	41.2	70.9	100.5	116.9	75.3
Revenue	41.2	70.9	100.5	116.9	75.3
Total Revenue	41.2	70.9	100.5	116.9	75.3
Cost of Revenue	32.0	46.2	70.9	78.5	50.8
Excise Taxes Payments	0.3	0.4	0.3	0.5	0.2
Cost of Revenue, Total	32.3	46.6	71.2	79.0	51.0
Gross Profit	8.9	24.3	29.2	37.9	24.2
Selling/General/Administrative Expense	6.3	10.6	7.0	6.1	6.3
Total Selling/General/Administrative Expenses	6.3	10.6	7.0	6.1	6.3
Investment Income - Operating	0.2	0.0	0.0	0.0	0.0
Interest/Investment Income - Operating	0.2	0.0	0.0	0.0	0.0
Interest Expense (Income) - Net Operating	0.8	0.7	0.3	0.7	0.9
Interest Expense (Income) - Net Operating Total	1.0	0.8	0.3	0.7	0.9
Impairment-Assets Held for Use	0.0	0.9	0.9	7.0	0.3
Unusual Expense (Income)	0.0	0.9	0.9	7.0	0.3
Total Operating Expense	39.6	58.9	79.5	92.8	58.5
Operating Income	1.6	12.0	21.0	24.2	16.7
Other Non-Operating Income (Expense)	0.4	-1.9	0.6	0.0	0.1
Other, Net	0.4	-1.9	0.6	0.0	0.1
Income Before Tax	2.0	10.1	21.6	24.2	16.8
Total Income Tax	0.6	0.5	3.8	4.9	2.5
Income After Tax	1.4	9.6	17.7	19.2	14.2
Minority Interest	0.3	0.6	0.3	0.5	-0.2
Net Income Before Extraord Items	1.7	10.2	18.0	19.7	14.1
Net Income	1.7	10.2	18.0	19.7	14.1
Income Available to Common Excl Extraord Items	1.7	10.2	18.0	19.7	14.1
Income Available to Common Incl Extraord Items	1.7	10.2	18.0	19.7	14.1
Basic/Primary Weighted Average Shares	455.2	455.2	455.2	439.7	432.0
Basic EPS Excl Extraord Items	0.00	0.02	0.04	0.04	0.03
Basic/Primary EPS Incl Extraord Items	0.00	0.02	0.04	0.04	0.03
Diluted Net Income	1.7	10.2	18.0	19.7	14.1
Diluted Weighted Average Shares	455.2	455.2	455.2	439.7	432.0
Diluted EPS Excl Extraord Items	0.00	0.02	0.04	0.04	0.03
Diluted EPS Incl Extraord Items	0.00	0.02	0.04	0.04	0.03
Dividends per Share - Common Stock Primary Issue	0.00	0.01	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	4.8	0.0	0.0	0.0
Total Special Items	0.0	0.9	0.9	7.0	0.3
Normalized Income Before Tax	2.0	11.0	22.5	31.2	17.1
Effect of Special Items on Income Taxes	0.0	0.0	0.2	1.4	0.0
Inc Tax Ex Impact of Sp Items	0.6	0.5	4.0	6.4	2.6
Normalized Income After Tax	1.4	10.5	18.5	24.8	14.5
Normalized Inc. Avail to Com.	1.7	11.1	18.8	25.3	14.3
Basic Normalized EPS	0.00	0.02	0.04	0.06	0.03
Diluted Normalized EPS	0.00	0.02	0.04	0.06	0.03
Normalized EBIT	2.7	13.7	22.2	31.9	17.9
Normalized EBITDA	2.7	13.7	22.2	31.9	17.9

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Balance Sheet Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate	6.294	6.5897	6.827	6.823	7.3041
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Tian Jian CPA
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	85.5	62.8	51.3	48.5	30.2
Cash and Short Term Investments	85.5	62.8	51.3	48.5	30.2
Accounts Receivable - Trade, Gross	112.2	27.2	23.3	19.9	20.7
Provision for Doubtful Accounts	-9.7	-4.3	-3.9	-3.7	-2.5
Trade Accounts Receivable - Net	102.5	22.9	19.4	16.2	18.1
Notes Receivable - Short Term	17.7	17.8	11.1	2.6	4.7
Other Receivables	1.6	1.7	4.0	1.7	3.6
Total Receivables, Net	121.8	42.4	34.5	20.5	26.4
Inventories - Finished Goods	39.1	25.1	16.2	12.7	8.8
Inventories - Work In Progress	38.8	19.1	7.9	10.9	10.7
Inventories - Raw Materials	29.8	19.9	8.4	15.2	10.7
Inventories - Other	-4.6	0.6	0.3	-3.4	0.5
Total Inventory	103.2	64.7	32.9	35.4	30.7
Prepaid Expenses	6.6	6.7	2.6	5.5	5.3
Total Current Assets	317.1	176.6	121.2	109.8	92.6
Buildings	50.6	43.1	40.2	37.9	34.3
Machinery/Equipment	66.1	42.2	38.5	30.7	25.4
Construction in Progress	5.2	13.7	1.2	10.3	5.4
Property/Plant/Equipment - Gross	121.8	99.0	79.8	78.8	65.1
Accumulated Depreciation	-31.9	-25.3	-19.7	-17.6	-13.3
Property/Plant/Equipment - Net	89.9	73.7	60.2	61.2	51.8
Goodwill, Net	0.5	0.5	0.5	0.5	0.5
Intangibles - Gross	10.3	9.8	9.4	13.4	12.4
Accumulated Intangible Amortization	-1.9	-1.6	-1.3	-1.3	-0.9
Intangibles, Net	8.4	8.2	8.2	12.1	11.5
LT Investment - Affiliate Companies	10.1	0.3	4.1	3.8	3.8
LT Investments - Other	-	-	0.4	4.7	4.9
Long Term Investments	10.1	0.3	4.5	8.5	8.8
Deferred Charges	0.3	0.1	0.0	0.0	0.3
Deferred Income Tax - Long Term Asset	1.9	0.8	0.6	0.5	0.9
Other Long Term Assets, Total	2.3	0.9	0.6	0.5	1.2
Total Assets	428.3	260.2	195.1	192.5	166.3
Accounts Payable	52.6	40.8	24.0	15.0	14.8
Accrued Expenses	8.3	1.5	1.4	1.8	1.9
Notes Payable/Short Term Debt	110.2	91.3	100.9	123.5	85.0
Current Portion - Long Term Debt/Capital Leases	0.0	6.8	5.1	0.8	3.8
Dividends Payable	0.0	0.1	-	-	-
Customer Advances	41.4	56.0	8.1	4.9	4.1
Income Taxes Payable	13.9	-1.5	-0.2	0.5	1.0
Other Current liabilities, Total	55.3	54.6	7.9	5.4	5.1
Total Current Liabilities	226.3	195.1	139.3	146.5	110.6
Long Term Debt	-	-	6.6	0.0	-
Total Long Term Debt	0.0	0.0	6.6	0.0	0.0
Total Debt	110.2	98.1	112.6	124.3	88.8
Minority Interest	-0.2	1.0	2.1	4.5	5.4
Other Long Term Liabilities	3.8	3.2	1.1	0.7	0.2
Other Liabilities, Total	3.8	3.2	1.1	0.7	0.2
Total Liabilities	229.9	199.3	149.1	151.7	116.2
Common Stock	48.2	21.9	21.1	21.1	13.1
Common Stock	48.2	21.9	21.1	21.1	13.1
Additional Paid-In Capital	65.8	19.5	19.3	17.6	28.3
Retained Earnings (Accumulated Deficit)	84.3	19.6	5.6	2.2	8.6
Total Equity	198.4	60.9	46.0	40.9	50.1
Total Liabilities & Shareholders’ Equity	428.3	260.2	195.1	192.5	166.3
Shares Outstanding - Common Stock Primary Issue	455.2	432.0	432.0	432.0	432.0
Total Common Shares Outstanding	455.2	432.0	432.0	432.0	432.0
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	0.0
Employees	904	797	680	704	711
Number of Common Shareholders	53,646	26,459	23,366	20,026	14,852
Accumulated Intangible Amort, Suppl.	1.9	1.6	1.3	1.3	0.9
Deferred Revenue - Current	41.4	56.0	8.1	4.9	4.1
Total Long Term Debt, Supplemental	-	6.8	5.1	0.8	-
Long Term Debt Maturing within 1 Year	-	6.8	5.1	0.8	-
Long Term Debt Matur. in Year 6 & Beyond	-	0.0	0.0	0.0	-

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Interim Balance Sheet Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate	6.303024	6.294	6.3859	6.464	6.5485
Cash & Equivalents	76.7	85.5	106.3	98.4	55.2
Cash and Short Term Investments	76.7	85.5	106.3	98.4	55.2
Trade Accounts Receivable - Net	90.9	102.5	52.9	48.6	22.5
Notes Receivable - Short Term	18.2	17.7	20.6	31.6	17.9
Other Receivables	1.8	1.6	1.6	2.2	1.8
Total Receivables, Net	110.9	121.8	75.2	82.4	42.3
Total Inventory	95.5	103.2	115.5	101.0	82.4
Prepaid Expenses	6.0	6.6	11.4	11.8	16.0
Total Current Assets	289.2	317.1	308.5	293.7	195.8
Construction in Progress	8.3	5.2	10.0	10.1	19.3
Property/Plant/Equipment - Gross	8.3	5.2	10.0	10.1	19.3
Property/Plant/Equipment - Net	91.4	89.9	81.5	81.6	78.9
Goodwill, Net	0.5	0.5	0.5	0.5	0.5
Intangibles, Net	8.3	8.4	8.3	8.2	8.2
LT Investment - Affiliate Companies	9.8	10.1	4.5	0.3	0.3
Long Term Investments	9.8	10.1	4.5	0.3	0.3
Deferred Charges	0.4	0.3	0.1	0.2	0.1
Deferred Income Tax - Long Term Asset	1.9	1.9	0.7	1.0	0.8
Other Long Term Assets, Total	2.3	2.3	0.8	1.2	0.9
Total Assets	401.6	428.3	404.1	385.5	284.6
Accounts Payable	41.2	52.6	62.6	64.3	56.4
Accrued Expenses	7.8	8.3	2.2	3.0	2.0
Notes Payable/Short Term Debt	106.0	110.2	107.1	77.9	85.8
Current Portion - Long Term Debt/Capital Leases	-	0.0	1.7	6.2	6.1
Dividends Payable	-	0.0	0.0	0.0	0.0
Customer Advances	25.4	41.4	34.4	58.4	51.5
Income Taxes Payable	13.9	13.9	6.8	6.4	2.8
Other Current liabilities, Total	39.3	55.3	41.2	64.7	54.4
Total Current Liabilities	194.3	226.3	214.8	216.1	204.8
Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	106.0	110.2	108.8	84.1	92.0
Minority Interest	-0.6	-0.2	0.4	0.6	1.1
Other Long Term Liabilities	8.0	3.8	3.6	3.5	3.3
Other Liabilities, Total	8.0	3.8	3.6	3.5	3.3
Total Liabilities	201.8	229.9	218.7	220.3	209.2
Common Stock	48.1	48.2	47.5	23.5	22.0
Common Stock	48.1	48.2	47.5	23.5	22.0
Additional Paid-In Capital	65.7	65.8	64.9	87.6	19.6
Retained Earnings (Accumulated Deficit)	85.9	84.3	72.9	54.2	33.9
Total Equity	199.8	198.4	185.3	165.2	75.4
Total Liabilities & Shareholders’ Equity	401.6	428.3	404.1	385.5	284.6
Shares Outstanding - Common Stock Primary Issue	455.2	455.2	455.2	455.2	432.0
Total Common Shares Outstanding	455.2	455.2	455.2	455.2	432.0
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	0.0
Number of Common Shareholders	51,402	53,646	38,101	25,210	19,878
Accumulated Intangible Amort, Suppl.	-	1.9	-	1.7	-
Deferred Revenue - Current	25.4	41.4	34.4	58.4	51.5
Total Long Term Debt, Supplemental	-	-	-	6.2	6.1
Long Term Debt Maturing within 1 Year	-	-	-	6.2	6.1
Long Term Debt Matur. in Year 6 & Beyond	-	-	-	0.0	0.0

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Cash Flows Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Tian Jian CPA
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash Receipts	245.5	179.9	74.2	89.5	89.1
Cash Payments	-238.6	-125.0	-53.4	-76.3	-86.6
Cash Taxes Paid	-11.2	-3.2	-3.7	-3.4	0.0
Other Operating Cash Flow	4.7	-18.6	5.5	-2.6	1.5
Changes in Working Capital	4.7	-18.6	5.5	-2.6	1.5
Cash from Operating Activities	0.4	33.1	22.7	7.2	4.0
Purchase of Fixed Assets	-10.4	-14.5	-7.0	-8.1	-5.0
Capital Expenditures	-10.4	-14.5	-7.0	-8.1	-5.0
Sale of Business	0.0	6.7	6.6	-	-
Sale of Fixed Assets	0.2	0.1	0.0	0.6	0.1
Purchase of Investments	-9.6	-2.4	-0.1	-5.7	-6.9
Other Investing Cash Flow Items, Total	-9.4	4.4	6.5	-5.1	-6.8
Cash from Investing Activities	-19.8	-10.1	-0.5	-13.2	-11.8
Other Financing Cash Flow	64.4	-11.8	-16.0	-0.4	3.6
Financing Cash Flow Items	64.4	-11.8	-16.0	-0.4	3.6
Total Debt Issued	101.7	88.1	131.3	100.1	96.3
Total Debt Reduction	-112.6	-102.0	-111.9	-99.9	-89.2
Issuance (Retirement) of Debt, Net	-10.9	-13.9	19.4	0.2	7.1
Cash from Financing Activities	53.5	-25.6	3.4	-0.2	10.7
Foreign Exchange Effects	0.1	-0.2	0.0	0.0	-0.1
Net Change in Cash	34.1	-2.8	25.6	-6.2	2.8
Net Cash - Beginning Balance	37.7	38.9	12.9	18.9	14.5
Net Cash - Ending Balance	71.8	36.0	38.5	12.7	17.3
Depreciation	6.2	5.1	4.3	3.9	3.2

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Interim Cash Flows Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	12 Months	9 Months	6 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.309123	6.46438	6.500043	6.541904	6.583076
Cash Receipts	45.4	245.5	228.2	138.3	64.5
Cash Payments	-43.8	-238.6	-203.9	-132.8	-61.5
Cash Taxes Paid	-4.2	-11.2	-11.6	-5.4	-0.3
Other Operating Cash Flow	-2.4	4.7	-17.8	-2.3	17.2
Changes in Working Capital	-2.4	4.7	-17.8	-2.3	17.2
Cash from Operating Activities	-5.0	0.4	-5.1	-2.2	19.8
Purchase of Fixed Assets	-3.8	-10.4	-8.6	-7.3	-5.5
Capital Expenditures	-3.8	-10.4	-8.6	-7.3	-5.5
Sale of Business	-	0.0	-	-	-
Sale of Fixed Assets	0.0	0.2	0.0	0.1	-
Purchase of Investments	-	-9.6	-4.2	-0.6	-
Other Investing Cash Flow	4.3	-	-	-	-
Other Investing Cash Flow Items, Total	4.3	-9.4	-4.1	-0.5	-
Cash from Investing Activities	0.5	-19.8	-12.8	-7.9	-5.5
Other Financing Cash Flow	-1.1	64.4	73.4	65.9	-1.1
Financing Cash Flow Items	-1.1	64.4	73.4	65.9	-1.1
Total Debt Issued	31.7	101.7	74.2	49.5	30.5
Total Debt Reduction	-23.0	-112.6	-88.9	-68.2	-32.0
Issuance (Retirement) of Debt, Net	8.7	-10.9	-14.7	-18.8	-1.6
Cash from Financing Activities	7.5	53.5	58.7	47.1	-2.7
Foreign Exchange Effects	0.0	0.1	0.0	0.0	0.0
Net Change in Cash	3.0	34.1	40.9	37.0	11.6
Net Cash - Beginning Balance	73.6	37.7	37.5	37.3	37.0
Net Cash - Ending Balance	76.6	71.8	78.4	74.3	48.7
Depreciation	-	6.2	-	2.8	-

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Income Statement As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Orient Public Accountants
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
In Operating Income	363.7	144.0	93.7	88.3	84.5
Total Revenue	363.7	144.0	93.7	88.3	84.5
Cost of Good Sold	246.6	110.1	76.4	69.7	69.0
Business Tax	1.4	0.4	0.5	0.3	0.3
Marketing expenses	7.9	4.8	3.7	4.1	4.0
Administrative expenses	22.1	10.9	11.0	9.1	6.4
Finance Expense	-	-	-	6.9	4.1
Interest Expense	4.5	4.7	5.8	-	-
Interest Income	-2.6	-0.6	-1.5	-	-
Foreign Exchange Gain or Loss	0.2	0.2	-0.1	-	-
Other Financial Costs	0.5	0.1	0.1	-	-
Assets depreciation loss	9.2	0.5	3.0	5.4	0.3
Gain/Loss from Change in Fair Value	-	-	-0.1	0.1	-
Investment Income	0.0	-2.9	-5.5	0.3	0.1
Total Operating Expense	289.8	128.2	93.2	95.8	84.1
Gain from Sale of Non-Current Assets	-	-	-	0.1	0.1
Gain from Sale of Fixed Assets	0.0	0.0	0.0	-	-
Gain from Sale of Intangible Assets	1.3	-	0.3	-	-
Non - Operating Income	-	0.4	0.8	0.6	1.0
Loss from Sale of Fxed Assets	-2.1	0.0	0.0	-0.1	0.0
Non - Operating Expense	-0.4	-0.1	-0.2	-0.1	-0.1
Net Income Before Taxes	72.8	16.0	1.5	-7.1	1.3
Provision for Income Taxes	11.8	1.7	0.5	0.9	0.6
Net Income After Taxes	60.9	14.3	1.0	-8.0	0.7
Minority Interest	1.2	-0.8	2.4	1.1	0.2
Net Income Before Extra. Items	62.1	13.5	3.4	-6.9	1.0
Net Income	62.1	13.5	3.4	-6.9	1.0
Income Available to Com Excl ExtraOrd	62.1	13.5	3.4	-6.9	1.0
Income Available to Com Incl ExtraOrd	62.1	13.5	3.4	-6.9	1.0
Basic Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Basic EPS Excluding ExtraOrdinary Items	0.14	0.03	0.01	-0.02	0.00
Basic EPS Including ExtraOrdinary Items	0.14	0.03	0.01	-0.02	0.00
Dilution Adjustment	-	-	0.0	0.0	-
Diluted Net Income	62.1	13.5	3.4	-6.9	1.0
Diluted Weighted Average Shares	445.5	432.0	432.0	432.0	432.0
Diluted EPS Excluding ExtraOrd Items	0.14	0.03	0.01	-0.02	0.00
Diluted EPS Including ExtraOrd Items	0.14	0.03	0.01	-0.02	0.00
DPS-A Share	0.01	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	4.7	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	82.7	16.5	4.2	-1.7	1.6
Inc Tax Ex Impact of Sp Items	13.5	1.8	1.4	2.8	0.7
Normalized Income After Taxes	69.3	14.8	2.8	-4.5	0.9
Normalized Inc. Avail to Com.	70.5	14.0	5.2	-3.4	1.1
Basic Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Diluted Normalized EPS	0.16	0.03	0.01	-0.01	0.00
Interest Expense	4.5	4.7	5.8	-	-
Interest Capitalized	-	-	-0.1	-	-
Depreciation	6.2	5.1	4.3	3.9	3.2
Amort of Intangibles	0.3	0.2	0.3	0.3	0.3
Advertising Expense, Supplemental	0.9	0.5	0.4	-	-
Research & Development Exp, Supplemental	7.5	3.0	3.7	-	-
Current Tax	12.9	1.9	0.6	0.4	0.7
Current Tax - Total	12.9	1.9	0.6	0.4	0.7
Deferred Tax	-1.1	-0.2	-0.1	0.5	-0.1
Deferred Tax - Total	-1.1	-0.2	-0.1	0.5	-0.1
Income Tax - Total	11.8	1.7	0.5	0.9	0.6

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Interim Income Statement As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.309123	6.359548	6.417282	6.501206	6.583076
In Operating Income	41.2	70.9	100.5	116.9	75.3
Total Revenue	41.2	70.9	100.5	116.9	75.3
Cost of Good Sold	32.0	46.2	70.9	78.5	50.8
Business Tax and Surcharges	0.3	0.4	0.3	0.5	0.2
Selling Expense	2.2	2.2	2.2	1.8	1.8
General & Admin. Expenses	4.0	8.4	4.9	4.3	4.5
Financing Cost	0.8	0.7	0.3	0.7	0.9
Losses on Impairment of Fixed Assets	0.0	0.9	0.9	7.0	0.3
Investment income	0.2	0.0	0.0	0.0	0.0
Total Operating Expense	39.6	58.9	79.5	92.8	58.5
Non - Operating Income	0.4	0.3	0.7	0.2	0.1
Non-operating expenses	-0.1	-2.2	-0.1	-0.2	-0.1
Net Income Before Taxes	2.0	10.1	21.6	24.2	16.8
Provision for Income Taxes	0.6	0.5	3.8	4.9	2.5
Net Income After Taxes	1.4	9.6	17.7	19.2	14.2
Minority Interest	0.3	0.6	0.3	0.5	-0.2
Net Income Before Extra. Items	1.7	10.2	18.0	19.7	14.1
Net Income	1.7	10.2	18.0	19.7	14.1
Income Available to Com Excl ExtraOrd	1.7	10.2	18.0	19.7	14.1
Income Available to Com Incl ExtraOrd	1.7	10.2	18.0	19.7	14.1
Basic Weighted Average Shares	455.2	455.2	455.2	439.7	432.0
Basic EPS Excluding ExtraOrdinary Items	0.00	0.02	0.04	0.04	0.03
Basic EPS Including ExtraOrdinary Items	0.00	0.02	0.04	0.04	0.03
Diluted Net Income	1.7	10.2	18.0	19.7	14.1
Diluted Weighted Average Shares	455.2	455.2	455.2	439.7	432.0
Diluted EPS Excluding ExtraOrd Items	0.00	0.02	0.04	0.04	0.03
Diluted EPS Including ExtraOrd Items	0.00	0.02	0.04	0.04	0.03
DPS-A Share	0.00	0.01	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	4.8	0.0	0.0	0.0
Normalized Income Before Taxes	2.0	11.0	22.5	31.2	17.1
Inc Tax Ex Impact of Sp Items	0.6	0.5	4.0	6.4	2.6
Normalized Income After Taxes	1.4	10.5	18.5	24.8	14.5
Normalized Inc. Avail to Com.	1.7	11.1	18.8	25.3	14.3
Basic Normalized EPS	0.00	0.02	0.04	0.06	0.03
Diluted Normalized EPS	0.00	0.02	0.04	0.06	0.03

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Balance Sheet As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate	6.294	6.5897	6.827	6.823	7.3041
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Orient Public Accountants
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash & Equivalents	85.5	62.8	51.3	48.5	30.2
Note Receivables	17.7	17.8	11.1	2.6	4.7
Accounts Receivable	112.2	27.2	23.3	19.9	20.7
Provision for Doubtful Accounts	-9.7	-4.3	-3.9	-3.7	-2.5
Other Receivables	1.6	1.7	4.0	1.7	3.6
Prepayments	6.6	6.7	2.6	5.5	5.3
Supplies in Transit	-	-	-	0.5	0.0
Raw Materials	29.8	19.9	8.4	14.7	10.7
Working in Progress	38.8	19.1	7.9	9.9	9.9
Semi-Finished Goods	-	-	-	1.0	0.8
Finished Goods	39.1	25.1	16.2	12.7	8.8
Materials on Subcontract	0.4	0.6	0.3	0.1	0.6
Provision for Inventory	-5.0	-	-	-3.5	-0.1
Total Current Assets	317.1	176.6	121.2	109.8	92.6
LT Equity Investments	10.1	0.3	4.1	3.8	3.8
Real Estate Investment	-	-	0.4	4.7	4.9
Buildings	50.6	43.1	40.2	37.9	34.3
Machinery Equipments	59.9	36.9	33.4	26.0	21.9
Office & Electronic Equipments	1.5	1.1	1.2	1.3	1.1
Transportation Equipment	4.8	4.1	3.9	3.4	2.4
Depreciation	-31.9	-25.3	-19.7	-17.6	-13.3
Construction Material	-	-	0.0	0.0	0.0
Under-construction projects	5.2	13.7	1.1	10.3	5.4
Intangible Assets Gross	10.3	9.8	9.4	13.4	12.4
Accumulated Amort. of Intangibles	-1.9	-1.6	-1.3	-1.3	-0.9
Goodwill	0.5	0.5	0.5	0.5	0.5
Long-term prepaid expenses	0.3	0.1	0.0	0.0	0.3
Deferred Tax Assets	1.9	0.8	0.6	0.5	0.9
Total Assets	428.3	260.2	195.1	192.5	166.3
ST Borrowings	64.2	65.2	71.6	71.2	62.5
Financial Liabilities for Trading	-	-	-	0.1	-
Note Payables	46.0	26.1	29.4	52.2	22.5
Acct. Payables	52.6	40.8	24.0	15.0	14.8
Advance receipts	41.4	56.0	8.1	4.9	4.1
Accrued Payroll	4.4	0.9	0.3	0.5	0.3
Dividend Payable	0.0	0.1	-	-	-
Taxes payable	13.9	-1.5	-0.2	0.5	1.0
Interest Payable	0.1	0.1	0.1	0.1	0.1
Other Creditor	3.7	0.5	0.9	1.2	1.4
Current Portion of LT Debt	0.0	6.8	5.1	0.8	3.8
Total Current Liabilities	226.3	195.1	139.3	146.5	110.6
Long Term Borrowing	-	-	6.6	0.0	-
Total Long Term Debt	-	-	6.6	0.0	-
Long Term Payable	0.0	0.0	0.0	0.5	0.0
Other Liabilities-Non Current	3.7	3.2	1.1	0.2	0.2
Special Payable	0.1	-	-	-	-
Minority Stockholder''s Interest	-0.2	1.0	2.1	4.5	5.4
Total Liabilities	229.9	199.3	149.1	151.7	116.2
Common Stock	48.2	21.9	21.1	21.1	13.1
Paid in Capital	65.8	19.5	19.3	17.6	28.3
Surplus reserves	11.5	4.0	2.9	2.6	2.4
Retained Reserves	72.9	15.6	2.6	-0.4	6.2
Total Equity	198.4	60.9	46.0	40.9	50.1
Total Liabilities & Shareholders' Equity	428.3	260.2	195.1	192.5	166.3
S/O-A Share	455.2	432.0	432.0	432.0	432.0
Total Common Shares Outstanding	455.2	432.0	432.0	432.0	432.0
T/S-A Share	0.0	0.0	0.0	0.0	0.0
Customer Advance	41.4	56.0	8.1	4.9	4.1
Accumulated Amort. of Intangibles	1.9	1.6	1.3	1.3	0.9
Full-Time Employees	904	797	680	704	711
Number of Common Shareholders	53,646	26,459	23,366	20,026	14,852
Current maturities	-	6.8	5.1	0.8	-
Total Long Term Debt, Supplemental	-	6.8	5.1	0.8	-
Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/				Interim Balance Sheet As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate	6.303024	6.294	6.3859	6.464	6.5485
Cash & Equivalents	76.7	85.5	106.3	98.4	55.2
Note Receivables	18.2	17.7	20.6	31.6	17.9
Acct. Receivables	90.9	102.5	52.9	48.6	22.5
Other Receivables	1.8	1.6	1.6	2.2	1.8
Payment in Advance	6.0	6.6	11.4	11.8	16.0
Inventories	95.5	103.2	115.5	101.0	82.4
Total Current Assets	289.2	317.1	308.5	293.7	195.8
LT Equity Investments	9.8	10.1	4.5	0.3	0.3
Fixed Assets, Net	83.1	84.8	71.5	71.5	59.6
Construction Material	-	-	0.1	-	-
Constraction in Progress	8.3	5.2	9.9	10.1	19.3
Intangible Assets, Net	8.3	8.4	8.3	8.2	8.2
Goodwill, Net	0.5	0.5	0.5	0.5	0.5
Deferred Tax Assets	1.9	1.9	0.7	1.0	0.8
Long Term Prepaid Expense	0.4	0.3	0.1	0.2	0.1
Total Assets	401.6	428.3	404.1	385.5	284.6
ST Borrowings	72.8	64.2	57.6	48.2	64.8
Note Payables	33.2	46.0	49.5	29.7	21.1
Acct. Payables	41.2	52.6	62.6	64.3	56.4
Customer Advance	25.4	41.4	34.4	58.4	51.5
Accrued Payroll	3.7	4.4	1.0	2.0	1.3
Dividend Payable	-	0.0	0.0	0.0	0.0
Tax Payable	13.9	13.9	6.8	6.4	2.8
Interest Payable	0.2	0.1	0.1	0.1	0.1
Other Creditor	3.9	3.7	1.2	0.9	0.6
Current Portion of LT Debt	-	0.0	1.7	6.2	6.1
Total Current Liabilities	194.3	226.3	214.8	216.1	204.8
Long Term Payable	0.0	0.0	0.0	0.0	0.0
Other Liabilities-Non Current	7.9	3.7	3.6	3.4	3.3
Special payables	0.1	0.1	-	0.1	-
Minority Interest	-0.6	-0.2	0.4	0.6	1.1
Total Liabilities	201.8	229.9	218.7	220.3	209.2
Paid-up capital	48.1	48.2	47.5	23.5	22.0
Paid in Capital	65.7	65.8	64.9	87.6	19.6
Surplus Reserves	11.4	11.5	4.1	4.1	4.0
Undistributed Profit	74.5	72.9	68.8	50.1	29.9
Total Equity	199.8	198.4	185.3	165.2	75.4
Total Liabilities & Shareholders' Equity	401.6	428.3	404.1	385.5	284.6
S/O-A Share	455.2	455.2	455.2	455.2	432.0
Total Common Shares Outstanding	455.2	455.2	455.2	455.2	432.0
T/S-A Share	0.0	0.0	0.0	0.0	0.0
Customer Advance	25.4	41.4	34.4	58.4	51.5
Accumulated Amort. of Intangibles	-	1.9	-	1.7	-
Number of Common Shareholders	51,402	53,646	38,101	25,210	19,878
Current maturities	-	-	-	6.2	6.1
Total Long Term Debt, Supplemental	-	-	-	6.2	6.1

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Annual Cash Flows As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Restated Normal 31-Dec-2008
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.46438	6.768989	6.831007	6.950445	7.605973
Auditor	Pan-China CPA	Pan-China CPA	Pan-China CPA	Zhejiang Tian Jian CPA	Zhejiang Orient Public Accountants
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash from Sales of Goods & Services	245.5	179.9	74.2	89.5	89.1
Cash Payments for Goods & Services	-238.6	-125.0	-53.4	-76.3	-86.6
Refund of Taxes	1.8	2.0	0.8	1.1	1.6
Other Operating Cash Received	19.3	8.5	23.1	11.6	13.1
Tax Paid	-13.0	-5.2	-4.5	-4.5	-1.5
Cash paid for other operating activities	-14.6	-27.1	-17.6	-14.2	-11.6
Cash from Operating Activities	0.4	33.1	22.7	7.2	4.0
Sales of Fixed, Intangibles and Others	0.2	0.1	0.0	0.6	0.1
Cash from Disposal of Subsidiaries	0.0	6.7	6.6	-	-
Capital Expenditure	-10.4	-14.5	-7.0	-8.1	-5.0
Purchase of Investments	-9.6	-2.4	-0.1	-5.7	-6.9
Cash from Investing Activities	-19.8	-10.1	-0.5	-13.2	-11.8
Cash received from capital contributions	68.9	-	-	-	1.9
Proceeds From Borrowings	101.7	88.1	131.3	100.1	96.3
Other cash received concerning financing	0.0	2.9	72.7	73.0	16.6
Repayment of Borrowings	-112.6	-102.0	-111.9	-99.9	-89.2
Cash paid for dividend and profit distri	-4.5	-4.7	-4.8	-5.5	-4.3
Other Financing Cash Paid	0.0	-10.0	-83.9	-67.9	-10.5
Cash from Financing Activities	53.5	-25.6	3.4	-0.2	10.7
Foreign Exchange Effects	0.1	-0.2	0.0	0.0	-0.1
Net Change in Cash	34.1	-2.8	25.6	-6.2	2.8
Net Cash - Beginning Balance	37.7	38.9	12.9	18.9	14.5
Net Cash - Ending Balance	71.8	36.0	38.5	12.7	17.3
Depreciation	6.2	5.1	4.3	3.9	3.2
Amortization of Intangibles	0.3	0.2	0.3	0.3	0.3
Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/					Interim Cash Flows As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	12 Months	9 Months	6 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	CNY	CNY	CNY	CNY	CNY
Exchange Rate (Period Average)	6.309123	6.46438	6.500043	6.541904	6.583076
Cash from Sales of Goods & Cash Receipts	45.4	245.5	228.2	138.3	64.5
Cash Payments for Goods & Services	-43.8	-238.6	-203.9	-132.8	-61.5
Refund of Tax	-	1.8	1.5	1.3	1.1
Other Operating Cash Received	5.2	19.3	10.6	6.4	25.9
Cash Paid for All Taxes	-4.2	-13.0	-13.1	-6.7	-1.4
Other Operating Cash Paid	-7.6	-14.6	-28.4	-8.7	-8.7
Cash from Operating Activities	-5.0	0.4	-5.1	-2.2	19.8
Sales of Fixed, Intangibles and Others	0.0	0.2	0.0	0.1	-
Other cash received concerning investing	4.3	-	-	-	-
Cash from Disposal of Subsidiaries	-	0.0	-	-	-
Capital Expenditure	-3.8	-10.4	-8.6	-7.3	-5.5
Cash paid for acquisition of investments	-	-9.6	-4.2	-0.6	-
Cash from Investing Activities	0.5	-19.8	-12.8	-7.9	-5.5
Cash received from capital contributions	-	68.9	68.8	68.1	-
Proceeds From Borrowings	31.7	101.7	74.2	49.5	30.5
Other cash received concerning financing	0.0	0.0	8.0	0.0	-
Repayment of Borrowings	-23.0	-112.6	-88.9	-68.2	-32.0
Cash Paid for Dividend and Interest	-1.2	-4.5	-3.2	-2.2	-1.1
Other Financing Cash Paid	0.0	0.0	-0.1	0.0	-
Cash from Financing Activities	7.5	53.5	58.7	47.1	-2.7
Foreign Exchange Effects	0.0	0.1	0.0	0.0	0.0
Net Change in Cash	3.0	34.1	40.9	37.0	11.6
Net Cash - Beginning Balance	73.6	37.7	37.5	37.3	37.0
Net Cash - Ending Balance	76.6	71.8	78.4	74.3	48.7
Depreciation	-	6.2	-	2.8	-
Amortization of Intangibles	-	0.3	-	0.1	-

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Geographic Segments

Financials in: As Reported (mil)

Annual

Interim

External Revenue   USD (mil)
	31-Dec-11		31-Dec-10		31-Dec-09		31-Dec-08		31-Dec-07
China	351.3	97 %	116.7	81.7 %	82.0	88.5 %	53.7	63 %	45.8	71.3 %
Other Foreign	10.7	3 %	26.2	18.3 %	10.6	11.5 %	31.6	37 %	18.5	28.7 %
Segment Total	362.0	100 %	142.8	100 %	92.6	100 %	85.3	100 %	64.3	100 %
Consolidated Total	362.0	100 %	142.8	100 %	92.6	100 %	85.3	100 %	64.3	100 %
Exchange Rate: CNY to USD	6.464380		6.768989		6.831007		6.950445		7.605973
Total Revenue   USD (mil)
	31-Dec-11		31-Dec-10		31-Dec-09		31-Dec-08		31-Dec-07
China	351.3	97 %	116.7	81.7 %	82.0	88.5 %	53.7	63 %	45.8	71.3 %
Other Foreign	10.7	3 %	26.2	18.3 %	10.6	11.5 %	31.6	37 %	18.5	28.7 %
Segment Total	362.0	100 %	142.8	100 %	92.6	100 %	85.3	100 %	64.3	100 %
Consolidated Total	362.0	100 %	142.8	100 %	92.6	100 %	85.3	100 %	64.3	100 %
Exchange Rate: CNY to USD	6.464380		6.768989		6.831007		6.950445		7.605973

Cost of Revenue   USD (mil)
	31-Dec-11		31-Dec-10		31-Dec-09		31-Dec-08
China	236.8	96.6 %	88.4	80.9 %	64.7	85.6 %	41.7	61.7 %
Other Foreign	8.2	3.4 %	20.9	19.1 %	10.9	14.4 %	25.9	38.3 %
Segment Total	245.0	100 %	109.3	100 %	75.6	100 %	67.6	100 %
Consolidated Total	245.0	100 %	109.3	100 %	75.6	100 %	67.6	100 %
Exchange Rate: CNY to USD	6.464380		6.768989		6.831007		6.950445

Zhejiang Jinggong Science & Tech. Co., Shaoxing, China, Tel: 86-575-84138692, URL: http://en.jgtec.com.cn/

Geographic Segments

Financials in: As Reported (mil)

Annual

Interim

External Revenue   USD (mil)
	31-Dec-11		30-Jun-11		31-Dec-10		30-Jun-10		31-Dec-09
China	165.5	97.1 %	185.5	97 %	64.0	82.4 %	52.6	82.1 %	53.9	89.2 %
Other Foreign	4.9	2.9 %	5.8	3 %	13.7	17.6 %	11.5	17.9 %	6.5	10.8 %
Segment Total	170.4	100 %	191.4	100 %	77.7	100 %	64.1	100 %	60.4	100 %
Consolidated Total	170.4	100 %	191.4	100 %	77.7	100 %	64.1	100 %	60.4	100 %
Exchange Rate: CNY to USD	6.388429		6.541904		6.713124		6.825839		6.829140
Total Revenue   USD (mil)
	31-Dec-11		30-Jun-11		31-Dec-10		30-Jun-10		31-Dec-09
China	165.5	97.1 %	185.5	97 %	64.0	82.4 %	52.6	82.1 %	53.9	89.2 %
Other Foreign	4.9	2.9 %	5.8	3 %	13.7	17.6 %	11.5	17.9 %	6.5	10.8 %
Segment Total	170.4	100 %	191.4	100 %	77.7	100 %	64.1	100 %	60.4	100 %
Consolidated Total	170.4	100 %	191.4	100 %	77.7	100 %	64.1	100 %	60.4	100 %
Exchange Rate: CNY to USD	6.388429		6.541904		6.713124		6.825839		6.829140

Cost of Revenue   USD (mil)
	31-Dec-11		30-Jun-11		31-Dec-10		30-Jun-10		31-Dec-09
China	112.4	97 %	124.2	96.3 %	44.7	79.8 %	42.3	82.9 %	42.1	83.6 %
Other Foreign	3.5	3 %	4.7	3.7 %	11.3	20.2 %	8.7	17.1 %	8.3	16.4 %
Segment Total	115.9	100 %	128.9	100 %	55.9	100 %	51.0	100 %	50.4	100 %
Consolidated Total	115.9	100 %	128.9	100 %	55.9	100 %	51.0	100 %	50.4	100 %
Exchange Rate: CNY to USD	6.388429		6.541904		6.713124		6.825839		6.829140

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.91
UK Pound	1	Rs.86.03
Euro	1	Rs.69.12

INFORMATION DETAILS

Report Prepared by :

PDT

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.