2001 Interim Report

Gzitic Hualing Holdings Limited
Condensed Consolidated Income Statement
Condensed Consolidated Balance Sheet
Condensed Consolidated Cash Flow Statement
Notes to Unaudited Condensed Consolidated Financial Statements
Financial Performance
Interim Dividend
Industry Overview
Business Review
Air-conditioner Business Analysis
Refrigerator Business Analysis
Overall Profitability Analysis
Placing of Shares
Employment, Training, Development and Remuneration Policy
Prospects
Directors' Interests in Shares, Warrants and Share Options
Substantial Shareholders
Purchase, Sales and Redemption of Securities
Audit Committee
Summary of the Group's Future Targets:
Code of Best Practice