CStone Pharmaceuticals — Capital/Financing Update 2005

Apr 28, 2005

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

兗州煤業股份有限公司 YANZHOU COAL MINING COMPANY LIMITED

(a joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 1171)

Announcement

Profit Estimate

and

Resolution Passed at the 21st Meeting of the Second Session of the Board of Directors

Profit Estimate

In the first quarter of 2005, the net profit of the Company increased by 102.3% as compared with the same period in 2004. Based on the prices of the signed domestic coal sales contract of the Company and the trend of the coal prices in domestic and overseas markets, the Company estimates that the accumulated net profit for the first half of 2005 will increase by more than 50% as compared with the same period in 2004.

In accordance with the requirements of the CSRC regulations, if a listed company estimates that the accumulated net profit from the beginning of the year to the end of the next reporting period increases by more than 50% as compared with the same period last year, the listed company is required to make an announcement to the public. Solely for the purpose of complying with such regulations, the Company announces that it estimates that the accumulated net profit for the first half of 2005 will increase by more than 50% as compared with the same period in 2004. However, the Company cannot provide any assurance that these results will be achieved. Actual results may vary materially from the projections made. Shareholders of the Company and public investors are cautioned not to place undue reliance on these projections.

Resolution Passed at the 21st Meeting of the Second Session of the Board of Directors

The 21st meeting of the second session of the board of directors of the Company was held on 27th April 2005 at the Company’s headquarter. A Resolution was passed by the board of directors of the Company, which are set out in this announcement.

This announcement is made pursuant to the disclosure requirement under Rule 13.09 of the Listing Rules.

Profit Estimate

In the first quarter of 2005, the net profit of Yanzhou Coal Mining Company Limited (the “Company”) increased by 102.3% as compared with the same period in 2004. The Company aims to increase coal sales price by continuously improving the quality of products and optimizing coal mix and products mix.

Based on the prices of the signed domestic coal sales contract of the Company and the trend of the coal prices in domestic and overseas markets, the Company estimates that the accumulated net profit for the first half of 2005 will increase by more than 50% as compared with the same period in 2004.

The above estimation was given to comply with the requirements of the China Securities Regulatory Commission (the “CSRC”).

The Company did not prepare the above projections with a view towards compliance with the published guidelines of the American Institute of Certified Public Accountants regarding forecasts and projections. The Company is announcing this estimate solely for the purpose of complying with the CSRC regulation. Such projections are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of the Company, and upon assumptions with respect to future business decisions which are subject to change. Accordingly, the Company cannot provide any assurance and makes no representation that these results will be achieved. Actual results of the Company may vary materially from the above projections. Shareholders of the Company and public investors are cautioned not to place undue reliance on these projections.

Resolution Passed at the 21st Meeting of the Second Session of the Board of Directors

The 21st meeting of the second session of the board of directors of the Company was held on 27th April 2005 in the Company’s headquarter at 298 South Fushan Road (former 40 Fushan Road), Zoucheng City, Shandong Province, PRC. Thirteen directors were called upon for the meeting and all of them were present, complying with the requirements of the laws and regulations such as the PRC Company Law, and the articles of association of the Company.

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The directors of the Company unanimously agreed and passed the resolution set out below:

Approved the 2005 first-quarter results of the Company. The Company estimates that the accumulated net profit for the first half of 2005 will increase by more than 50% as compared with the same period in 2004.

This announcement is made pursuant to the disclosure requirement under Rule 13.09 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

By order of the Board of Directors of Yanzhou Coal Mining Company Limited Wang Xin Chairman of the Board of Directors

Shandong Province, PRC, 27th April, 2005

Note: As at the date of this announcement, the directors of the Company are Mr. Wang Xin, Mr. Geng Jiahuai, Mr. Yang Deyu, Mr. Mo Liqi, Mr. Wang Bangjun, Mr. Yang Jiachun, Mr. Wu Yuxiang, Mr. Wang Xinkun and Mr. Dong Yunqing, and the independent non-executive Directors of the Company are Mr. Fan Weitang, Mr. Cui Jianmin, Mr. Wang Xiaojun and Mr. Wang Quanxi.

Please also refer to the published version of this announcement in South China Morning Post.

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