1. Corporate Presentation

2. 1 Agenda Speaker Company’s Vision & Overview WEI Tingzhan Future Plans WEI Tingzhan CHEN Limin Financial Highlights Retail Business Wholesale Business Industry Overview WEI Tingzhan

3. 2 Chairman Section 1: Company’s Vision & Overview

4. 3 Our Vision Expanding distribution network in the Greater Beijing Region, Northern and Eastern China by actively exploring expansion opportunities through organic growth and/or merger & acquisitions To have approximately 255 Retail Outlets by the end of 2008 Strengthening the information and logistics system Further brand building To Become One of the Leading Integrated Retail and Wholesale Distribution Operators in the Greater Beijing Region by :

5. 4 Core Investment Value One of the largest supermarket chains in BeijingIntegrated wholesale and retail distribution operator Operates in the Greater Beijing Region, with a strong network in the affluent and populous Chaoyang District, in particular, the CBD in Beijing Well established and modernized logistics infrastructure and management information systems to capture immense potential for future growth Well-poised to capture opportunities arising from the 2008 Beijing Olympics

6. 5 Jingkelong – A Renowned Brand in Greater Beijing Region A leading integrated retail and wholesale distribution operator of daily consumer products in the Greater Beijing Region, with a strong presence in Chaoyang District One of the largest supermarket chains in Beijing

7. 6 We have Grown Significantly in a Short Time 1994199520022005 Establishment of 1 st Distribution Center in Chaoyang District 19971998 2003 2004 2000 Establishment of 1 st Dry Products Logistics Center Opened 2 nd & 3 rd Hypermarkets Establishment of 2 nd Distribution Center in Tianjin Revenue and net income after minority interest from continuing operations reached RMB2.9 billion and RMB38.2 million Establishment of Live & Fresh Produce Logistics Center Revenue and net income after minority interest from continuing operations reached RMB4.1 billion and RMB75.1 million Establishment of joint stock limited company, Jingkelong Revenue and net income after minority interest from continuing operations reached RMB3.6 billion and RMB73.2 million Restructuring by Parent and the establishment of Beijing Jingkelong Supermarket Chain Company Limited Opened 4 th Hypermarket Opened 1 st convenience store Opened 1 st Hypermarket Opened 1 st supermarket 2006 Listed on the GEM of The Stock Exchange of Hong Kong in September

8. 7 A strategic operator for an integrated retail and wholesale distribution businesses Directly operate retail network complemented by franchise operations enables fast and efficient expansion Jingkelong – An Integrated Retail & Wholesale Distribution Operator Retailing Hypermarkets 5 (1) directly operated Hypermarkets Supermarkets 39 (1) supermarkets including: -38 directly operated -1 franchise stores Convenience Stores 127 (1) convenience stores, including: -39 directly operated -88 franchise stores Dry Product Logistics Center Live and Fresh Produce Logistics Center (1)Number of Retail Outlets as at 31 December 2006 which had commenced commercial operation

9. 8 Wholesale distribution business operated by Chaopi Trading and its subsidiaries and associates Complementary operation of Logistic Centers and Distribution Center enhances distribution efficiency Wholesaling Major customers: including local and foreign retail chain store operators & wholesale operators Wholesale Distribution Business Tianjin Distribution Center Beijing Distribution Center Jingkelong – An Integrated Retail & Wholesale Distribution Operator

10. 9 Our Key Strengths More than 10 years of experience in the daily consumer product distribution industry One of the largest supermarket chains in Beijing Ranked 21st amongst the top 100 fast moving consumer goods retail chain in China in 2005 in terms of revenue (2003: RMB2.9 billion, 2004: RMB3.6 billion, 2005: RMB4.1 billion,Q3 2006:RMB 3.3 billion) Well-Recognized Brands

11. 10 Our Key Strengths Extensive retail network comprising 5 hypermarkets, 39 supermarkets and 127 convenience stores Strong retail network in densely populated and affluent Chaoyang District Hosting of the Beijing Olympics in 2008 Locality of Operations..... Greater Beijing Region Chaoyang Dongcheng Fengtai Chongwen 3rd Outer Ring 4th Outer Ring 5th Outer Ring Beijing Capital International Airport Central Business District No. of Retail Outlets in Chaoyang District: 2 Hypermarkets 23 Supermarkets 106 Convenience Stores

12. 11 Integrated Retail and Wholesale Distribution Network Our Key Strengths Timely collection of first-hand information on market trends and consumer preferences Broader customer base Higher bargaining power and better concession on bulk purchase Stability in sourcing and distribution of products

13. 12 Minimize costs and increase profit margin Fully equipped for future expansion of distribution network Our Key Strengths Centralized Logistics Centers and Distribution Centers Chaoyang district Distribution centers Retail Distribution Business Wholesale Distribution Business Tianjin Dry products Logistics centers Live & fresh produce

14. 13 TitleResponsibility WEI Tingzhan LI Jianwen LIU Yuejin CHEN Limin LI Chunyan Chairman Executive Director/ General Manager Executive Director Chief Financial Officer Executive Director/ Joint Company Secretary Overall strategies planning Business development and operation Retail operation Financial affairs Legal affairs Our Key Strengths Experienced & Stable Management Well-established merit based reward system Over 20 years of experience Strong vision

15. 14 Strong Financial Position (1)After adjusting for non-recurring revaluation gain on Jinsong Supermarket (2)After adjusting for one-off bank interest income and related tax from over-subscription Significant growth in Revenue, Net Income & Net Margin from Continuing Operations NetNet RevenueIncomeMargin RMB millionRMB million% 20032,89438.21.3 20043,56954.8 (1) 1.5 (1) 20054,12275.11.8 2003 – 2005 Revenue & Net Income CAGR: 19.4% / 40.3% 05/06 9-months Revenue & Net Income Growth: 6.0% / 22.2% 30 September 20053,08759.81.9 30 September 20063,273 73.1 (2) 2.2 (2)

16. 15 Shareholding & Corporate Structure 44.24%3.52%5.84%39.47% Chaoyang Auxillary 3 Corporate Promoters (1) Public Beijing Xinyang Tongli Commercial Facilities Company Limited (Commercial equipment installation & repair) Beijing Chaopi Trading Company (Wholesaling distribution) Beijing Jingkelong (Langfang) Company Limited (Hypermarket operation) 52.03% 76.42% 80.00% Individual Promoters Beijing Jingkelong Supermarket Chain Company Limited (Supermarket operation) 100.00% 6.93% Shanxi Trust (2) (1) Represents three small suppliers of the Group (2) A professional trustee company and is holding Domestic Shares as trustee for 122 employees and officers of the Company

17. 16 Section 2: Industry Overview

18. 17 Regions in the PRC with the Highest Per Capita Annual Disposal Income and Living Expenditure of Urban Residents in 2005 Beijing, One of the Regions with the Highest Per Capita Annual Disposable Income and Living Expenditure Source: National Bureau of Statistics of China Disposable IncomeLiving expenditure 0 5,000 10,000 15,000 20,000 BeijingZhejiangTianjinJiangsuChongqing ShanghaiGuangdongFujianShangdong Per Capita (RMB)

19. 18 Source: Beijing Municipal Bureau of Statistics Rapid Growth in Retail Sales of Consumer Goods in Beijing Retail Sales of Consumer Goods in Beijing (RMB billion) Retail Sales of Consumer Goods in Beijing (RMB billion) 95.0 150.9 165.9 183.1 200.5 229.7 262.7 0 50 100 150 200 250 1995199920002001200220032004 CAGR: 11.8% 290.3 2005 300

20. 19 Chaoyang District – One of the Top Average Wages amongst Districts in Beijing in 2005 Source: Beijing Municipal Bureau of Statistics Number of Employed PersonsAverage Annual Wages per Employed Person ChaoyangFengtaiXuanwuShijingshan HaidianXichengDongchengDaxingChongwen 100 300 500 700 900 5,000 15,000 25,000 35,000 45,000 ('000)(RMB)

21. 20 Section 3: Retail Business

22. 21 Strategic investment in modernized back-end support during track record period led to prudent growth in retail outlets Continue to expand number of hypermarkets and supermarkets through self- operated mode Retail Outlets are mostly located in Chaoyang District of Beijing Number of Retail Outlets directly operated by the Group as at the date indicated: Number of franchised stores: Fengtai 4th Outer Ring 5th Outer Ring Beijing Capital International Airport Central Business District Chongwen Dongcheng 3rd Outer Ring Chaoyang No. of Retail Outlets in Chaoyang District: 2 Hypermarkets 23 Supermarkets 106 Convenience Stores 200320052004 Hypermarket Supermarket Convenience Stores 4 27 34 65 4 26 35 65 4 26 34 64 2006 5 38 39 82 31 December LPD-2008 4 16 36 Planned new store openings 200320052004 Supermarket Convenience Stores 4 46 50 5 88 93 4 72 76 2006 1 88 89 31 December LPD-2008 - 35 Planned new store openings

23. 22 Optimize product mix by enhancing operation capability of live and fresh produce in the Retail Outlets Increase number of in-house branded products Our Strategy to Retailing Solid top line growth without scarifying Profitability Increase pace of expansion through organic growth and/or merger & acquisitions Renovate and upgrade existing Retail Outlets Strengthen the logistics and information systems

24. 23 Limited Exposure to Rental Inflation Long-term leases for all of its directly-operated retail outlets, with a step up clause of 5% once every five years During the past three years and nine months ended 30 September 2006, rental costs as a percentage of the Group’s revenue is 0.65%, 0.96%, 0.96% and 1.14% respectively A defensive player amongst its competitors

25. 24 Live and Fresh Produce Logistics Center and Dry Products Logistics Center situated in the Chaoyang District CAPEX of RMB53 million and RMB57 million respectively Consolidate orders and provide daily consumer products to Retail Outlets in the Greater Beijing region Provide logistics support to wholesale distribution business during peak season Logistics Centers

26. 25 Business Statistics by Format 200320042005 As at Dec 31 Hypermarkets 4 38.6 9.7 42.3 47.3 7.2 4 38.6 9.7 46.2 45.9 10.5 4 38.6 9.7 49.2 48.4 6.2 Number of stores Total operating area (’000 sq.m.) Average area per store (’000 sq.m.) Revenue/Operating area/day (RMB) Average value per transaction (RMB) Same store sales growth (%) 2006 4 38.6 9.7 48.6 49.2 (1.6) As at Sept 30 200320042005 As at Dec 31 Supermarkets 27 65.1 2.4 51.2 25.5 2.5 26 66.9 2.6 48.1 25.0 3.1 26 65.4 2.5 46.9 27.8 4.0 Number of stores Total operating area (’000 sq.m.) Average area per store (’000 sq.m.) Revenue/Operating area/day (RMB) Average value per transaction (RMB) Same store sales growth (%) 2006 39 89.2 2.3 47.6 29.2 5.0 As at Sept 30

27. 26 Business Statistics by Format (Cont’d) 200320042005 As at Dec 31 Convenience Stores Number of directly operated stores Total operating area (’000 sq.m.) Average area per store (’000 sq.m.) Revenue/Operating area/Day (RMB) Average value per transaction Same store sales growth (%) 34 7.7 0.23 54.5 10.3 (7.6) 34 8.2 0.24 49.7 9.3 (5.8) 35 8.1 0.23 55.3 9.0 5.6 2006 36 8.2 0.23 57.2 8.4 3.6 As at Sept 30

28. 27 Section 4: Wholesale Business

29. 28 Close relationship with suppliers and customers build over 20 years of operating history Huge market potential brought forth by rapid growth of retail industry With long history in wholesale sector, the Group is prepared for future competition from foreign competitors Control supply chains to prevent revenue leakage and strengthen customer loyalty Logics Behind Going into Wholesaling

30. 29 Our Strategy to Wholesaling We provide wholesale supply of daily consumer products including food products, beverages and wine product to customers including our own Retail Outlets and other local and foreign retail operators and trading companies 20032005 (RMB M) 2004 Revenue Gross Profit Gross Margin 1,026.7 84.4 8.2% 2,057.4 205.6 10.0% 1,555.9 130.6 8.4% Capture more sole distributorships Increase our pace of expansion in Eastern and Northern China Revenue CAGR 42% 20062005 1,622.9 165.9 10.2% 1,528.9 151.4 9.9% 31 December 30 September

31. 30 Distribution Centers Provide accurate and latest market intelligence to customers Monitor market demand and fluctuations at the retail level To support retail distribution business during peak season 2 Distribution Centers, located in Chaoyang District and Tianjin respectively Wholesaling of daily consumer products to retail outlets, and other retail operators and trading companies To acquire additional automated loading systems from Japan in order to strengthen distribution capacity

32. 31 Section 5: Financial Highlights CHEN Limin Chief Financial Officer

33. 32 Profit after Adjusting for Non-Recurring Event 20032004 Year ended Dec 31 2005 (RMB M) Profit attributable to Equity Holders Less: Revaluation gain on exchange of fixed assets, net of tax Bank interest from over- subscription 38.2 — 38.2 73.2 (18.4) — 54.8 75.1 — 75.1 2003 – 2005 CAGR: 40.3% Jingkelong has relinquished a property in June 2002 for redevelopment purposes in exchange for a property with similar size from the property developer The replacement was completed in December 2004 and a property of similar size was transferred to the Company Revaluation Gain on Exchange of Fixed Assets 2006 88.6 — (15.5) 73.1 Nine months ended Sept 30 59.8 — 59.8 2005 05/06 9-months Growth: 22.2%

34. 33 Contributions from Continuing Operations Strong growth in revenue and gross profit from wholesaling Significant investment in logistics infrastructure and is now ready for rapid expansion for retail and wholesale businesses Revenue Gross Profit Year ended Dec 31 (RMB million) 1,864 2,009 1,027 1,556 0 1,000 2,000 3,000 4,000 200320042005 264 272 84 131 0 100 200 300 400 500 200320042005 5,000 2,061 2,057 293 206 Retailing Wholesaling Retailing Wholesaling 2005 2006 Nine months ended Sept 30 Year ended Dec 31 2005 2006 Nine months ended Sept 30 51.5% 7.7% 32.1% 2.5% 56% 3% 57.2% 7.7% 1,554 1,529 1,648 1,623 6.1% 6.0% 210 151 241 166 14.8% 9.9%

35. 34 (RMB million) Year ended Dec 31 HypermarketsConvenience Stores 7.8% 10.5% Supermarkets 2.6% 592 654 1,121 1,208 152 148 0 300 600 900 1,200 1,500 1,800 2,100 200320042005 695 1,205 161 6.2% 0.2% 8.7% 1.6% Turnover Breakdown by Retail Segments Hypermarkets and Supermarkets contribute over 90% revenue to retail distribution business Nine months ended Sept 30 2005 2006 512 1,007 128 520 917 118 9.8% 8.5% 592 654 1,121 1,208 152 148 695 1,205 161

36. 35 Operating Expenses from Continuing Operations For the year ended Dec 30 2004 Cost of salesSelling & distribution costs Administrative expenses 20052003 Stringent cost control 87.9% 9.7% 3.2% 88.7% 8.9% 2.5% 87.9% 9% 2.2% As a percentage of revenue 20052006 88.2% 8.7% 2.3% 87.5% 8.7% 2.8% For the nine months ended Sept 30

37. 36 A Fairly Stable Gross Profit Margin in Retailing with a Strong Growth in Wholesaling Optimization of product mix and logistics arrangement of live and fresh produce in convenience stores led to a rebound in gross profit margin in 2005 Establishment of new subsidiaries specialized in major product categories, the acquisition of more sole distributorships and the well established reward system gave rise to continuous improvement in gross profit margin WholesalingRetailing Hypermarkets Supermarkets Convenience Stores 14.6 14.7 13.3 13.6 13.0 14.3 13.9 14.7 15.5 13.6 14.8 10.2 10.0 8.2 8.4 %

38. 37 Selected Financial Ratios (1)After adjustment for non-recurring items (2)After adjustment for non-recurring items and increase in equity from listing proceeds Gross profit margin EBITDA margin EBIT margin Net profit margin Effective tax rate Return on equity Current ratio Net gearing ratio 2003 Key Financial Ratios 2004 As at Dec 31 12.1% 5.3% 4.0% 1.8% 32.4% 20.9% 0.82 128.6% 11.3% 4.9% (1) 3.7% (1) 1.5% (1) 34.5% 17.0% (1) 0.87 101.5% 12.1% 4.6% 3.0% 1.3% 31.2% 14.0% 0.74 98.1% 2006 2005 12.5% 6.1 %(1) 4.8 %(1) 2.2% (1) 33.2% 19.4 %(2) 1.26 0.1% As at Sept 30

39. 38 Selected Financial Ratios (Cont’d) Inventory turnover days Debtor turnover days Creditor turnover days Fixed assets turnover Operating lease / revenue Staffing expenses / revenue Finance costs / sales Retail: revenue / employee (RMB) Key Financial Ratios 2003 2004 As at Dec 31 2006 2005 As at Sept 30 46 23 68 6.7x 0.7% 5.8% 0.7% 468,000 41 31 66 7.7x 1.0% 4.7% 0.6% 542,000 37 38 64 8.3x 1.0% 4.3% 0.5% 586,000 43 35 62 6.0x 1.1% 4.8% 0.5% 435,000

40. 39 Section 6: Future Plans WEI Tingzhan

41. 40 Future Plans Our 5 key business objectives going forward are: Further expand our Distribution Network in Greater Beijing Region, Eastern and Northern China Upgrade Logistics and Distribution Centers to further improve distribution capability Upgrade Retail Outlets to strengthen customers’ loyalty Keep on strengthening internal control Continue to invest in management information systems