Cash Flow Statement
For the year ended February 20 2009
				UNIT:USD
Items		Notes
Operating activities
	Calls and premiums received			43,829,098.29
	Claims recoveries from 3rd party			12,028.97
	Guarantee returned			-
	Co-insured recoveries			3,194,881.47
	Interest received & exchange profit			440,798.49
	Other income			4,092,398.18
Subtotal			A	51,569,205.40
	Claims paid			16,784,000.55
	Co-insurance premiums paid			18,787,853.79
	Operating expenses paid			4,342,819.91
	Loss prevention paid			14,043.92
	Guarantee paid			33,040.90
	Brokerage paid			819,092.02
	Bank charges & exchange loss			10,514.09
	Others expenses paid			12,115,441.41
Subtotal			B	52,906,806.59
Net cash flow from operating activities			A-B=C	(1,337,601.19)
Investing activities
	Sale of investments			969,602.24
	Investment income received			8,827,415.59
	Other investing income			-
Subtotal			D	9,797,017.83
	Purchase of fixed assets			6,434,718.31
	Cash paid to acquire equity investments			1,755,489.57
	Other investing activities			-
Subtotal			E	8,190,207.88
Net cash flow from investing activities			D-E=F	1,606,809.95
Financing activities
	Proceeds from borrowings			5,000,000.00
Subtotal			G	5,000,000.00
	Cash repayments of amounts borrowed			-
	Cash payments of interest expenses			64,001.04
Subtotal			H	64,001.04
Net cash flow from financing activities			G-H=I	4,935,998.96
Cash equivalents			J	46,392.07
Net increase in cash and cash equivalents			C+F+I+J	5,251,599.79
Cash and cash equivalents at beginning of period				16,535,356.92
Cash and cash equivalents at end of period				11,283,757.13