Daily Report Excerpt January 5, 2009

Daily Report of TX Investment ---

January 5, 2009
By TX Investment Analysis Department

1. Commentary on Macro-economy & Market

Global Economic News

Daily News of Bond Market

Daily News of International Market

Daily Market Review and Prospect

PMI Slightly Rebounds in December

Wen Jiabao: Package Plan Implemented to Cope with Economic Turmoil

China Manufacturing Climate Continues Downside in December 2008

State Council: Central Government Likely to Grant or Return Local Debts as Substitute; New Categories to
Emerge in Bond Market

Release and Decreasing Holdings of Restricted Shares: Two Decreasing Holdings Announcements
Released at the Beginning of 2009

2. Comments on Industries and Companies

Report To-be-issued Today: Looking Forward to A Warm Spring --- 2008 Major Events Review & 2009
Prospect of Securities Industry

Report To-be-issued Today: Comments on 20 Opinions of Circulation Invigoration & Consumption

Enlargement by State Department

China Iron & Steel Industry Emphasizes Internal Work, Focusing on Trading Opportunities --- 2009
Government Promotion Planning Estimation

Attentions Paid to Auto Industry Promotion via Three Aspects at the Beginning of 2009

Railway Infrastructure to Lead Investment Tide in the Coming 4 Years; Transportation Bottleneck Basically
Extinguished in 2012
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Report To-be-issued Today: Electricity Prices of Industry & Commerce Likely to Combine

Report To-be-issued Today: Chemical Fiber Industry: Plummeted in 2008, while to Revivify in 2009

Report To-be-issued Today: To Defend before Gaining --- 2008 Major Events Review & 2009 Prospect of
Banking Industry

Telecom Industry: 3G License Granting Activated at Executive Meeting of the State Council

China National Software & Service (600536): Proposal of Issuing 64.38mn A-Shares Non-Publicly to
Shareholders Approved by General Meeting

Sanan Optoelectronics (600703): 2008 Net Profit Predicted at ~Rmb52mn

Shenzhen Agricultural Products (000061): Lowers Earnings Forecast

YGSOFT (002063): To Be Recognized as High-tech Enterprise

Shanghai Bashi Industrial (Group) (600741): Material Asset Reorganization Application Be Passed
Conditionally

Greatwall Information Industry (000748): Recognized as High-tech Enterprise

Shenzhen Zhongjin Lingnan Nonfemet Com. (000060): To Be Recognized as High-tech Enterprise

Gansu Languang Science & Technology (000981): Releases Share Reform Progress Risk Warning

Shanghai Zhixin Electric (600517): Wholly-owned Subsidiary, Shanghai Zhixin Electric (600517) Signs
Significant Contract

Tianjin Tianyao Pharmaceutical (600488): Its Products, Solu-medrol and Spironolactone Pass European
COS Authentication

Shenzhen Great Wall Kaifa Techco (000021): Hard Disk Board Order of 2009 Q1 Amounts 14.42mn Units

TCL Corporation (000100): To Transfer 45% Equity of Wuxi Digital

Huawen Media Investment (000793): Holding Proportion of the Company’s Shareholders Mounts up to
20.31%

Inner Mongolia MengDian HuaNeng Thermal (600863): Board of Director Approves to Accept Wind & Power
Company

Shenzhen Techo Telcom. (000555): Shanghai Huazhida Trading Company Decreases Holdings Again

Bank of China (601988): UBS Sells Its Holding H-shares

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Tianjin Port Company (600717): Recommends Strategic Investors to Subordinated Tianjin China-gas

Zhongshan Broad-Ocean Motor (002249): Entitled in Top 10 New Energy-saving Projects in 2008 within the
Central Budget

Gree Electric Appliances Inc of Zhuhai (000651): Listed as High-tech Enterprise

Guangdong Dongyangguang Aluminum (600673): 10.12mn Haitong Securities (600837) Shares Sold
through Secondary Market

GD Power Development Company (600795): Signs Contract to Restructure Datong Coal Mine Project

3. Excerpts of TX Latest Reports

Bulk Commodities Prices Close to Historic Bottom --- Weekly Report of TX Bulk Commodities Prices (34th)

New Channels Hard to Change Mood of Banks --- Follow-up Report of Credit Policy & Its Impact

2009 Likely to Be Inflexion for Air-conditioner Price

American Consumer Confidence Falls to Record Low

To Closely Follow the Market in the First Half Year, While Carefully Select Categories in the Second Half

Foreign Exchange Reserve Decreases; Focus on Liquidity Variation of Bond Market

Daily Report of TX Macro-finance & Real Estate Industry --- Dec 31, 2008

Daily Report of TX Machinery & Metal --- Dec 31, 2008

Daily Report of TX Consumer Goods Industry --- Dec 31, 2008

Daily News of TX IT Industry --- Dec 31, 2008

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Disclaimer
This material is for information purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any
security in any jurisdiction. The information included herein has been compiled by TX Investment Consulting (“TX”) from sources that it
believes to be reliable, but no presentation or guarantee is made or given by TX or any other person as to its accuracy, completeness or
timeliness.

All opinions and estimates expressed are entirely those of TX as of the date appearing on this material only and are subject to change
without notice. Neither TX nor its analysts accept any liability whatsoever for any direct or consequential loss arising from any use of
this material or otherwise arising in connection therewith.

This material is strictly confidential to the recipient. No part of this material may be redistributed, reproduced, or published by any
person for any purpose without prior permission in writing from TX. All rights are reserved.

Investment Rating System

Performance of stock or sector relative to TX Free-float Index over next 6 months after research publications

Rating Remark
1 Buy Relative performance over TX Free-float Index >15%

2 Overweight Relative performance over TX Free-float Index 5% ~ 15%

3 Neutral Relative performance over TX Free-float Index -5% ~ 5%

4 Underweight Relative performance over TX Free-float Index -5% ~ -15%

5 Sell Relative performance over TX Free-float Index <-15%

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