2005 Interim Results Announcement Sinotrans Limited August 26, 2005 Sinotrans Limited August 26, 2005

1 Forward-Looking Statement Disclaimer This Presentation and subsequent discussions may contain forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward-looking terminology such as believe, expect, anticipate, estimate, plan, project, target, may, will or may be expressed to be results of actions that may or are expected to occur in the future. You should not place undue reliance on these forward-looking statements, which reflect our belief only as of the date of this presentation. These forward-looking statements are based on our own information and on information from other sources we believe to be reliable. Our actual results may be materially less favourable than those expressed or implied by these forward-looking statements which could depress the market price of our shares.

2 Table of Contents Interim Highlights 2.Outlook and Strategic Focus 3.Conclusion 3 – – –18

Interim Highlights

4 Interim Summary Highlights Steady IH revenue growth of 33.7% and Profit attributable to equity holders of the Company growth of 32.5% Freight forwarding remained as the core business of the Group Freight forwarding, storage and terminal service and the marine transport businesses continued to bring significant growth The increase in the price of international marine transportation stimulated our revenue growth Continuous efforts in restructuring business resources and developing new products Rapid development of NVOOC business Better customer structure Development of extended value-added services Improving marine transportation business Better management and operational efficiency and cost control

5 9, H H 2005 Strong Financial Performance EPS: RMB0.12 Profit Attributable to Equity Holders of the Company (RMB mm)  Effective enhancing operational efficiency resulted in stable growth in financial performance  Stronger growth in our 2005 interim financial performance H 20041H H H 2005 Dividend: RMB per share 13, Turnover from Continuing Operations Operating Profit from Continuing Operations

6 0 2, , , , , , H H 2005 (RMB mm) 1H H 2005 Growing Turnover of Continuing Operations Key drivers of revenue growth Continued momentum in freight forwarding and marine transportation services; strong growth in storage and terminal services Adopted aggressive marketing strategy and enhancement in operational efficiency 2005 Interim Turnover Contribution 9, , , Turnover Trend 34.0 % (RMB mm) RevenueGrowth Freight Forwarding Shipping Agency Express Services Marine Transportation Storage and Terminal Services Other Operating Turnover by Segment (RMB mm) Freight ForwardingExpress Services Shipping AgencyMarine Transportation Storage Other 36.0 % 32.3 % 16.4 % 33.2 % 42.5 % 1H 04–1H 05 growth 0 1, , , , , , , , , H H , , , , , , % , , , , %

7 (RMB mm) Improving Operating Profit Performance of Continuing Operations Growth in operating profit from freight forwarding, marine transportation business and storage and terminal business Operating Profit Contribution Operating Profit Trend Note:After unallocated costs Note:Before unallocated costs Freight Forwarding Shipping Agency Express Services Marine Transportation Storage and Terminal Services Other (RMB mm) Operating Profit by Segment Note:Before unallocated costs Freight ForwardingExpress Services Shipping AgencyMarine Transportation Storage Other 64.6% 42.4% 22.7 % 1H 04–1H 05 growth H H 2005 RevenueGrowth H H 2005 (RMB mm) 1H H (0.7) NANA % 12.4% %

8 Total Operating Profit: RMB728.7mn Total Revenue: RMB13.074bn Key Business Lines Operating Profit Contribution (2) Turnover Contribution (1) Integrated Logistics Sinotrans Limited Support Services Storage & Terminal Services Trucking Marine Transportation Core Services Shipping Agency Freight Forwarding Freight ForwardingExpress Services Storage & Terminal Services Shipping Agency Marine TransportationOther (2)Percentage contribution is before unallocated costs and exclude the negative operating profit from others (1)Percentage contribution is before inter-segment eliminations Express Services

9 5, , , , , , , H 20031H 20041H H 20031H 20041H H 20031H 20041H 2005 (RMB mm) Freight Forwarding Operating Performance (million TEUS) (Kilogram in million) Number of TEU Growth 30.1% Amount of cargo Note: Before elimination adjustments A relatively fast business development pace with better customer structure Operating Profit and Growth Note: Before unallocated costs Cargo Volume Growth Turnover and Growth Growth H 20031H 20041H % % , , % % 8, , , , % % %

H 20041H H 20041H 2005 Note:Before elimination adjustments Express Services – the Performance of Continuing Operations Growth 21.0% 32.3% Enhanced marketing efforts resulted in rapid business growth Turnover and Growth (RMB mm) Packages Growth (Packages in millions) Growth Operating Profit and Growth Note:Before unallocated costs (RMB mm) H 20041H %

11 1H 20031H 20041H 2005 Shipping Agency Operating Performance % 35.8% Note: Before unallocated costs Note: Before elimination adjustments Turnover and volume growth due to enhanced customer service and marketing efforts Net Registered Vessel Tonnage (NRT in millions) Growth Turnover and Growth (RMB mm) Growth Operating Profit and Growth (RMB mm) 4.04% 16.4% H 20031H 20041H H 20031H 20041H Growth 10.8% %

12 Storage and Terminal Services Operating Performance Note: Before unallocated costs Note: Before elimination adjustments Turnover and Growth (RMB mm) Growth Operating Profit and Growth (RMB mm) 16.9% 42.5% H 20031H 20041H H H H Growth % 17.7%

13 Marine Transportation Operating Performance Note: Before unallocated costs Note: Before elimination adjustments Turnover and Growth (RMB mm) Growth Operating Profit and Growth (RMB mm) 119.3% 36% 1, , H 20031H 20041H H H H , Growth % 17.5%

14 Income Statement RMB mm 1H 2005 (1) 1H 2004 (2) Turnover 13,074.09,754.4 Other revenues Total revenues13, ,783.7 Operating costs (excl. Depreciation and amortization) (9,969.1) (7,356.4) Depreciation and amortization (129.0) (107.7) Operating profit Net financial income Share of results of associates Profit before taxation Profit for the period from continuing operations Profit for the period from discountinued operations Note: (1) 2005 interim profit and loss statement is un-audited. (2) 2004 interim profit and loss statement is re-stated. Profit attributable to shareholders Profit for the period

15 Balance Sheet Statement RMB mm 1H Cash and cash equivalents 4, ,722.7 Term deposits with initial term of over three months 1, Trade and other receivables5,005.44,073.6 Others Total current assets 11, ,218.3 Property, plant and equipment2, ,896.7 Other non-current assets1, Total non-current assets Non-current assets classified as held for sale 3, , Total assets14, ,083.3 Borrowings Trade payables 3, ,074.6 Other current liabilities2, ,926.0 Total current liabilities 6, ,195.1 Borrowings Deferred tax liabilities Others Total non-current liabilities Owner’s equity7, ,768.5 Minority interests 1, ,035.1 Total equity and liabilities14, ,083.3 Note: interim balance sheet statement is un-audited interim profit and loss statement is re-stated.

16 Cash Flow Statement RMB mm 1H H Net cash inflow from operating activities Net cash (used in)/ provided from investing activities(488.1) Net cash used in from financing activities (165.0) (34.8) Net (decrease) / increase in cash and cash equivalents (285.8) Note: interim cash flow statement is un-audited interim profit and loss statement is re-stated.

17 2.Outlook and Strategic Focus

18 Company Strategies Optimize marketing and customer management to enhance management level and cost control 4 Open up new revenue resources by developing new services and new products 3 Improve the service network and to expand NVOCC business 2 Strengthen business integration and enhance operational quality to improve business efficiency 1 Enjoy ongoing business growth in the ever-changing logistics and transportation market to cope with external trade and seasonal change in the industry in the second half of 2005

19 3.Conclusion

20 Conclusion Strong Sector Growth in China Valuable Strategic Relationships Market Leadership Extensive Network Experienced Management Team Full Service Capabilities Strong Brand Recognition Superior Financial Performance

21 - Thank You -