The balance of cash of the Company and its Subsidiaries as at the end of the period increased by approximately 80% over the beginning of the period. This was mainly due to the cash inflow from financing activities such as borrowings and sale and lease back. (2) Notes receivable for the Company and its Subsidiaries as at the end of the period decreased by approximately 92%

Reference is made to the announcement and circular of the Company dated 12 May 2005 and 19 May 2005 respectively in relation to, amongst others, the Continuing Connected Transactions in respect of agreements for the provision of goods and/or services between certain members of the CEA Holding Group and the Group. The Company has, in view of the expiration of the agreements relating to the Continuing Connected Transactions, entered into respective agreements relating to the Continuing Connected Transactions. It is the Company’s intention to finance the Renewed Continuing Connected Transactions through its internal resources.

On 17 March 2008, the Board of the Company approved the bidding by the Company in an open tender process on the China Beijing Equity Exchange to acquire certain equity interests in five aluminum fabrication plants and one primary aluminum production plant. Currently, the Board has submitted relevant proposals to the extraordinary general meeting to be convened on 9 May 2008 for consideration and approval and the relevant announcemen of the general meeting and circular were disclosed on 25 March 2008. Upon approval in the general meeting, the Company will participate in bidding on the China Beijing Equity Exchange.

During the reporting period, in accordance with IFRSs, revenues of the Group was RMB23,788 million (for the three months ended 31 March 2007: RMB18,489 million), representing an increase of 28.7%. Profit for the period attributable to shareholders of the Company was RMB6,772 million (for the three months ended 31March 2007: RMB4,919 million), representing an increase of 37.7%. During the reporting period, changes in major items of the financial statements and explanation thereof are as follows:

Datang International Power Generation Co., Ltd. (the “Company”) announces that, based on the Company’s preliminary statistics, as of 31 March 2008, the total power generation of the Company and its subsidiaries (the “Group”) for the first quarter of 2008 amounted to 29.306 billion kWh, an increase of 6.45% when compared to the corresponding period of the previous year. The Group’s total on-grid power generation was 27.561 billion kWh, an increase of 6.24% when compared to the corresponding period of the previous year.

Pursuant to Rule 13.43 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, there will be a meeting of the Directors of HSBC Holdings plc on Tuesday, 6 May 2008 to consider the declaration of the first interim dividend for 2008.

1. Mainly because of investing in construction projects and repaying the debts, the cash as at the end of the reporting period decreased by 55.86%, compared to the beginning of the reporting period.
2. Mainly because of the increase in value of coal inventories, the inventories as at the end of the reporting period increased by 30.20% compared to the beginning of the reporting period.
3. Mainly because of investing in construction projects, the construction materials as at the end of the reporting period increased by 40.27% compared to the beginning of the reporting period.
4. The notes payable as at the end of the reporting period were reduced by 100% to zero, as all notes payable were due and settled accordingly as at balance sheet date.

This year, the international crude oil prices have been continuously climbing. Due to the strict control over refined oil prices in the People’s Republic of China (the “PRC”), a distortion to the correlation of the refined oil prices and crude oil prices occurred. China Petroleum & Chemical Corporation (the “Company”) has taken various measures to guarantee the supply for the refined oil market in the PRC, which resulted in great losses in the oil-refinery business and massive decline in overall performance of the Company. Recently, the Company received a notice from the Ministry of Finance regarding the policy on provision of financial support to guarantee the supply for the refined oil market. The matters in relation to provision of financial support setting out in the notice are as follows:

For the first quarter of 2008, despite facing the challenges from the intense market competition and the increased diversity in communication means, the Group had successfully maintained its solid fundamentals. The Group grasped the opportunities brought by informatisation to tackle various challenges, and promoted the scale development of transformation businesses to drive revenue growth. Additionally, capitalizing on the customer brands operation and effective packaged sales of voice and transformation businesses, the Group endeavored to foster customer loyalty and mitigate the loss in voice revenue, progressively transforming voice usage value to integrated information services.

The Group’s net sales for the year ended 31st December, 2007 was RMB14,560.6 million (approximately US$2,080.6 million, or HK$16,234.4 million), representing an increase of RMB2,553.3 million (approximately US$364.9 million, or HK$2,846.8 million), or 21.3% as compared with the 2006 net sales of RMB12,007.3 million (approximately US$1,537.7 million, or HK$11,951.1 million).

By leveraging our premium network, strong brand recognition, economies of scale and highly effective refined management, the Group continued to maintain a favorable growth in its financial results for the first quarter of 2008. The Group’s operating revenue reached RMB93.024 billion, representing an increase of 19.7% compared to the same period of last year. EBITDA reached RMB49.777 billion, representing an increase of 22.2% compared to the same period of last year. With the positive effect of lowering the income tax rate in Mainland China, profit attributable to shareholders reached RMB24.102 billion, representing an increase of 37.2% compared to the same period of last year. Margin of profit attributable to shareholders reached a relatively high level of 25.9%.

For the first quarter of 2008, the revenue of the Company was RMB 20,487 million, including upfront connection fees of RMB 270 million. Excluding upfront connection fees, the revenue of the Company was RMB 20,217 million for the first quarter of 2008, representing an increase of 0.85% over that of 2007.

Reference is made to the notice of annual general meeting of PetroChina Company Limited (the “Company”) dated 28 March 2008 (the “AGM Notice”) for the annual general meeting to be held on 15 May 2008 (the “AGM”) which contains the resolutions to be considered before the AGM.

During the reporting period, the aviation market has seen steady growth in demand, and the Group persevered with the strategic transformation toward an internationalized airline with network economy. The Company dealt with pressures resulted from soaring jet fuel prices by enhancing the operating efficiency of its principal businesses and reinforcing its control over costs. During the reporting period, the growth rate of the traffic volume was significantly higher than that of capacity, and the growth rate of operating revenue was also higher than that of operating costs and capacity, leading to a remarkable improvement of operating efficiency. The gain from exchange as a result of the appreciation of Renminbi has further improved the Company’s performance.

During the reporting period, the booming domestic aviation market directly led to the rapid development momentum of the air transportation business. The exchange rate of Renminbi against major currencies such as the US dollar continued to appreciate. Under the precondition of ensuring flight safety, the Group continued to improve its corporate governance and business model. However, due to fierce competition in the industry and skyrocketing fuel prices, the Group was faced with comparatively significant cost pressures. The Group dealt with such pressures resulting from high fuel prices by optimizing the structure of flight routes and the composition of fleet, increasing its overall revenue, taking a series of fuel-saving measures and utilizing financial derivatives. In order to cope with the soaring jet fuel prices, the Group continued to reinforce financial budget management and cost control. It also improved the performance-assessment-by-objective mechanism geared towards operating efficiency of the flight routes network. All of these helped to realize a satisfactory improvement in operating standards and results benchmarks of the Company

On 18 April 2008 (after trading hours), Xiamen Airlines and Boeing entered into the Boeing Aircraft Acquisition Agreement, pursuant to which Xiamen Airlines agreed to purchase the Boeing Aircraft from Boeing in accordance with the terms and conditions thereof.