09:52 SHENZHENEXPRESS<00548>-Announcement&Resumption of Trading-2 Exchange from 9:30 a.m. on 4 February 2005 at the request of the Company pending the release of this announcement. The Company has made an application to the Stock Exchange to resume trading of its H shares on the Stock Exchange from 9:30 a.m. on 16 February 2005. INFORMATION ON QINGLIAN COMPANY Qinglian Company is a Sino-foreign co-operative joint venture which was established on 23 February 1995 in Guangdong, PRC for a term of 33 years starting from 23 February 1995. Its principal and only significant assets consist of the Qinglian Highways and the related facilities. According to the joint venture contracts of Qinglian Company, the annual net distributable profit of Qinglian Company shall be paid according to the following schedule: (1) repay the principal and accrued interest of bank loans extended by domestic financial institutions to Qinglian Company that should be repaid for the year; (2) repay shareholders' loans and accrued interest for the year in the same proportion to the equity interest of each of the current shareholders of Qinglian Company; (3) The remaining profit for the year after full deduction of item (1) above and full repayment of all outstanding shareholders' loan and interest shall be paid to the current shareholders in the same proportion to the equity interest of each of the current shareholders of Qinglian Company. According to the joint venture contracts of Qinglian Company, the board of directors of Qinglian Company shall comprise of 15 directors, Spring Sun and Sun Yue Traffic are entitled to appoint 7 and 2 directors respectively. Each of Yueqing and Guangzhou Cement is entitled to appoint 3 directors. Spring Sun is also entitled to appoint the chairman of the board of directors of Qinglian Company. The following financial figures relating to Qinglian Company are extracted from the audited reports of Qinglian Company (under the PRC GAAP) for the years ended 31 December 2002 and 2003 respectively: For the year ended 31 December 2002 31 December 2003 RMB RMB Net Assets 635,874,015 532,451,701 Total Assets 3,195,005,217 2,933,580,373 Net loss for the 136,011,371 103,422,314 year The total investment costs in Qinglian Company as at the date of establishment that was approved by the Guangdong Foreign Economic Relation & Trade Commission is RMB3,500,000,000 (approximately HK$3,301,886,792) and its registered capital is RMB1,200,000,000 (approximately HK$1,132,075,472). As at 31 December 2004, with reference to the management accounts of Qinglian Company, the total amount of shareholders' loan of Qinglian Company payable to its existing shareholders were approximately RMB433,644,740 (approximately HK$409,098,811) and US$67,055,615 (approximately HK$523,033,797) and the accrued interests of which were approximately RMB265,585,280 (approximately HK$250,552,151) and US$50,224,714 (approximately HK$391,752,770) respectively. Details of the shareholders' loans with the accrued interests are as follows: Shareholders Equity Shareholder's of Qinglian Interest in Loan(s) in Company Qinglian Qinglian Company Company Note 1 Principal as Accrued at 31 December Interests as 2004 at 31 December 2004 Spring Sun, 42.10% US$50,180,127 Approximately incorporated (approximately US$40,806,241 in the British HK$391,404,991) (approximately Virgin HK$318,288,681) Islands Sun Yue 14.18% Note 2 1. Approximately Traffic, US$16,875,488 US$9,418,473 incorporated (approximately (approximately in Hong HK$131,628,806) HK$73,464,089) Kong 2. RMB498,756 Approximately (approximately RMB224,782 HK$470,525) (approximately