Cash Flow Statement
For the year ended February 20 2006
				UNIT:USD
Items		Notes
Operating activities
	Calls and premiums received			24,584,377.74
	Claims recoveries from 3rd party			-
	Reinsurance recoveries			2,477,628.52
	Guarantee returned			426,667.56
	Interest received & exchange profit			2,420,826.72
	Other income			690,653.33
Subtotal			A	30,600,153.87
	Claims paid			11,579,932.64
	Reinsurance premiums paid			9,183,840.63
	Operating expenses paid			1,662,836.46
	Loss prevention paid			34,345.94
	Guarantee paid			-
	Bank charges & exchange loss			31,896.65
	Others expenses paid			207,300.14
Subtotal			B	22,700,152.46
Net cash flow from operating activities			A-B=C	7,900,001.41
Investing activities
	Sale of investments			-
	Investment income received			403,793.22
	Other investing income			-
Subtotal			D	403,793.22
	Purchase of fixed assets			43,052.20
	Cash paid to acquire equity investments			3,936,528.24
	Other investing activities			-
Subtotal			E	3,979,580.44
Net cash flow from investing activities			D-E=F	(3,575,787.22)
Financing activities
	Proceeds from borrowings			13,576,624.14
Subtotal			G	13,576,624.14
	Cash repayments of amounts borrowed			15,859,499.00
	Cash payments of interest expenses			220,421.33
Subtotal			H	16,079,920.33
Net cash flow from financing activities			G-H=I	(2,503,296.19)
Net increase in cash and cash equivalents			I+F+C=J	1,820,918.00
Cash and cash equivalents at beginning of period				17,439,825.23
Cash and cash equivalents at end of period				19,260,743.23
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