¡¡¡¡Introduction:ª¥

¡¡¡¡Project site: Changde, Yiyang, Yueyang and Changsha cities. ª¥

¡¡¡¡Investment Scale: Total investment of 42.713 million USD, including the fixed assets of 25.697 million USD and the circulating fund of 17.016 million USD.ª¤

¡¡¡¡Undertaker:ª¥

¡¡¡¡Name:Hunan Dongting Aquaculture Co.Ltd.ª¥

¡¡¡¡Nature: A listed company in Shanghai Stock Exchange.ª¥

¡¡¡¡There are 9 subsidiary companies at present in the company with 905 staff members whose average age is 33 years old and whose formal schooling records of technical secondary school, college or higher education account for 47.6%. Two of the senior management personal enjoys "special allowance of State Council". One person is a "state level expert who has made outstanding contribution"Business scope: The farming and marketing of aquatic products, marketing and production of Chinese traditional preparation medicine, beverage and wine. ª¥

¡¡¡¡The company was rated as "the leading enterprise of agricultural industrialization" by 9 ministries and commissions including Agriculture Ministry in Dec. 2002.

¡¡¡¡The industry of the company is aquatic product farming and its main products are the best quality fresh water fish and special aquatic products including 4 commercial varieties of the Dongting lake crab, variegated carp, grass carp, silvercarp and carp.ª¥

¡¡¡¡In 2002, the company had the total assets of 112.908 million USD, net assets of 52.267 million USD with the main business income of 34.746 million USD, main business profit of 10.851 million USD and net profit of 3.492 million USD.ª¤

¡¡¡¡Background:ª¥

¡¡¡¡It is commonly known that the aquatic products of taking fish as their main kind  are good for people's health. The market demand for aquatic products in the society increases gradually. The Dongting lake area with the mild and wet climate and rich water living things has become one of the most suitable areas in the world for the best quality of aquatic products of fish, shrimp, crab and pearl. ª¥

¡¡¡¡The company possesses 6 over one-thousand-mu lakes for aquiculture in the west and south of Dongting lake with the total area of 157 hundred hectares, a seed-fish base with the annual hatching capacity of 2000 million high quality fish and an aquatic product engineering technology center. It has got a clear industrial driving function.ª¥

Due to the history reasons, the aquatic industry is all the time in a state of decentralization, small-sized and self-run. The output in these¡°golden water areas¡±is low with poor brand reputation and business benefit. So, the industrial merging with the characteristics of the production and marketing integration of high quality aquatic products will become an inevitable choice, which will get economic benefit in scale, raise the quality of aquatic product, promote employment and increase the farmer's income.ª¤

¡¡¡¡Economic Targets:ª¥

¡¡¡¡Unit: 10 thousand yuanª¤

¡¡¡¡SNNameTarGets  InvestmentAnnualª¤IncomeInternalª¤incomeª¤ratioAnnualª¤Profit   Laborª¤Days

¡¡¡¡1.Breedª¤Centerª¤Construction 2 billionª¤fish /year 545.5 387.9 17%  127.3   100

¡¡¡¡2.Purchasingª¤in Datonghu  6700ª¤hectares  242.4  787.9  20%  157.6 500

¡¡¡¡3.Purchasingª¤aroundª¤Dongting Lake 10ª¤thousandª¤hectares 606.11333.3 22% 290.9 1000

¡¡¡¡4.Changshaª¤wholesaleª¤market  Annualª¤sales of ¡çª¤121 million 1297 91.9 1000

¡¡¡¡5.Changdeª¤market Annualª¤sales of¡çª¤48 million 484.8 47.3  400

¡¡¡¡6.Bio-foodª¤processingª¤center Annualª¤output ofª¤¡ç30 million 1095.5  2181.8 153.9 1000

¡¡¡¡7.Total 4271.3   868.8   4000

¡¡¡¡After the project is put into operation, 4 thousand persons can be employed and an annual profit and tax of 8.6885 million USD can be achieved.

¡¡¡¡Fund:ª¥

¡¡¡¡There will be a stable economic benefit and sufficient current cash for the above projects with small investment ratio in the fixed assets, high self-raising fund ratio and strong loan payment capability. The emerging in the agricultural production and circulating is strongly supported by the state, and the scientific financing combination can be made for different projects at different stages to reach the optimum fund structure and financing cost. The preliminary fund-raising scheme is as follows:

¡¡¡¡1.Self-raising fund of 13.455 million USD that accounts for 31.5%ª¥

¡¡¡¡2.EJV and CJIª¥

¡¡¡¡3.Investment from the state securities, newly increased shares and allocated shares of 14.653 million USD that accounts for34.3%ª¤ª¥

¡¡¡¡Published by:TaoLin Guest House, Construction Road, Changde Cityª¥

¡¡¡¡Tel: 0086736-7236888    Fax: 0086736-7266736ª¥

¡¡¡¡E-mail:dtsz @ hndtsz.comª¥

¡¡¡¡Website:www.hndtsz.com