中国林业全资子公司汉中亨泰生物科技有限公司 (HTBSC) 及曼地亚红豆杉

1. 中国林业全资子公司汉中亨泰生物科技有限公司(HTBSC)及曼地亚红豆杉 China Forestry Inc. ‘s wholly owned subsidiary Han Zhong Heng Tai Bio-Technology Science Co., Ltd. and Taxus Madia 项目介绍 Project Introduction

2. 一、概述 Taxus Overview • 红豆杉是第四纪冰川时期遗留下来的古老树种。九十年代初美国科学家发现并由FDA证实从红豆杉中提取的紫杉醇是目前为止最有效、天然的有机抗癌药物。围绕红豆杉资源开发快速展开，野生资源被掠夺性发掘，生态环境惨遭破坏。目前，我国已将红豆杉属的所有种列为国家一级保护野生植物，严格禁止野生红豆杉资源的直接商业性利用。联合国《濒危野生动植物种国际贸易公约》（CITES）也将其列入，限制其国际贸易。 Taxus is an ancient species living from the fourth glacial period. In the early nineties, the U.S. scientists have discovered and FDA proved that taxus can extract paclitaxel (PTX) that was the most effective, natural organic anti-cancer crude drug by far. With rapid deployment around taxus resource, wild resources are predatorily explored, the ecological environment devastated fatally. At present, all species of Taxus have been classified as national I level protected wild plants, wild taxus resource is strictly prohibited from direct commerce purpose. The United Nations Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) has listed itas restricted international trade species.

3. 其他国家 和地区：13% 亚洲：87% • 世界红豆杉资源分布图 World taxus resource distribution pie chart • China occupies more than 50%, Asia 87% 中国：大于50%

4. 曼地亚红豆杉是为了解决资源保护和商业开发而于二十世纪末引种我国的杂交品种。其母本是东北红豆杉（T.CUSPIDATA）.父本是欧洲红豆杉（T.BACCDFA）.红豆杉植物体内( 内层树皮、树根和枝叶中) , 可提取昂贵的新型抗癌药物紫杉醇( 1克3 0 0 0 美元) 及其衍生物, 它是紫杉醇的药源料树种。 Taxus Madia is a hybridization introduced in 20 century in the aim of protection resource and commercial development. Its female parent is T.CUSPIDATA, male parent is T.BACCDFA. Taxus (inner bark, roots and leaves) can extract expensive new anti-cancer drug PTX ( $3,000 per gram) and derivant. Taxus is the resource tree of PTX. • 天然红豆杉树的紫杉醇一般分布于树皮中，整株利用率低，且形成生态破坏。曼地亚红豆杉则属灌木类，适合循环采摘且植株各部分均含有紫杉醇，枝叶含量达0.04%以上，根系部分可达0.07%，全株可用于提取紫杉醇，植株利用率高，其深度加工后综合经济价值更高。 Paclitaxel (PTX) usually distributes in the bark of natural taxue. It is easy to lead to ecocide if utilize the whole tree. Taxus Madia belongs to bush, it fits to circularly picking and all parts of taxus Madia containing PTX. Taxue Madia utilization rate is higher than other race and has more economic value after deeply processing.

6. Taxus Madia

7. 红豆杉茶 taxus tea 叶片 leaves 叶片 二、曼地亚红豆杉产品链Taxus Madia products chain 保健枕 health care pillow 曼地亚红豆杉植株 Taxus Madia plant 曼地亚红豆杉植株 高级化妆品 advanced cosmetic 分离separation 纯化purified 枝条withes 紫杉醇原料药 PTX crude drug 紫杉醇制剂 PTX preparation 废渣 residue 有机肥料 organic fertilizer 红豆杉盆景 Taxus miniascape 植株 plant 绿化苗木 afforesting plant

8. 三、紫杉醇原料药的市场及价值分析Paclitaxel(PTX) crude drug market and value analysis • 1.市场需求趋势 Market demand trend

9. 2. 紫杉醇原料药及价值分析 PTX crude drug and value analysis • a.纯度为99%的紫杉醇原料药的市场价格区间：90-180 万元/公斤. Purity of 99% PTX market price range:0.9-1.8 million RMB per kg. • b.纯化后的紫杉醇原料药制成的广普抗肿瘤针剂，市场价 格为1500元/支，每公斤纯化后的紫杉醇原料药可制成 3.3万支针剂，可产生4950万元的市场价值。 Purified PTX can made up Broad-spectrum anti-tumor injection, per injectionmarket price is RMB1500 Yuan, every kilogram purified PTX can make into 33,000 injections, which market value is 49.5 million Yuan. c.文献统计，每年全球紫杉醇类抗肿瘤药物销售金额高达50亿美元 According to Statistics, the world PTX anti-tumor drug sales arrived at 5 billion dollars.

10. 四、HTBSC的基本情况及主营产品HTBSC basic information and main products 1.基本情况 Basic information • 企业性质：民营高科技有限责任公司 Type： Private high-tech Co., Ltd. • 设立日期：2003年 Incorporated date: 2003 • 注册资本：1500万元 Registered capital: RMB 15 million Yuan • 资产规模：1.8亿元人民币（累计形成，已评估） Asset size: RMB 180 million Yuan (accumulated, assessed) • 资本形态：曼地亚红豆杉约799万株（含幼苗），其中绿化苗木200万株左右，13个种植基地，总面积近3万亩。 Asset form: Taxus Madia plants 7.99 million plants (including young seeding),afforesting plants about 2 million;13 planting bases, total cultivated area nearly 30,000 Mu.

11. 2.主营产品 Main products • 曼地亚红豆杉苗 Taxus Madia young plants • 曼地亚红豆杉盆景 Taxus Madia miniascapes • 红豆杉茶及保健品 Taxus tea and health care products • 绿化苗木 Afforesting plants • 绿化工程 Plant engineering • 紫杉醇原料药及附属产品 PTX crude drug and derivant

12. 五、HTBSC的核心竞争力 HTBSC core competitiveness • 基地设在红豆杉优生带 Bases establish in the region suitable for taxus growth • 种植面积在西北地区规模最大 The biggest cultivated area in the Northwest of China • 品种繁育技术行业领先 Leading technology of breeding • 政府大力支持 Strong government support • 产业发展区域的劳动力成本低廉 Low labor cost in the cultivated area • 产业配套齐全（公司基地坐落在中国中草药生产加工基地） Industry fully furnished (The company is located in the Chinese herbal producing and processing base)

13. 六、HTBSC三年规划及目标 HTBSC 3-year plan and objective • 2011年：◇可用于采摘枝条5年生的曼地亚红豆杉种植面积达6000亩。 6000 Mu Taxus Madia cultivated area which can pick 5-year withes. ◇ 进行紫杉醇原料药的加工。 Processing PTX crude drug. • 2012年：◇新增种植面积10000亩，可采面积达12000亩生产高纯紫杉醇原料药100 公斤。 Adding cultivated area 10,000 Mu, picking area 12,000 Mu can produce PTX crude drug 100 kilogram. • 2013年：◇总种植面积30000亩，每次轮采6000亩；加工鲜枝条4500 吨，年产高纯度（99%）的原料药300公斤，附加产品若干。 Total cultivated area 30,000 Mu, picking 6,000 Mu at every turn; processing fresh withes 4,500 ton; producing PTX crude drug 300 kilogram and several derivant. • 2014年： ◇与医疗机构合作，生产紫杉醇制剂。 Corporate with medical establishment, producing PTX preparation.

14. 七、融资需求及条件 Financing demand and conditions • 1.首期融资需求：1.2亿元人民币 Initial financing demand: RMB 120 million Yuan (18.46 million dollars) • 其中： 6000万元用于1万亩新增曼地亚红豆杉种植等费用 including: 60 million Yuan for increasing 10,000 Mu Taxus Madia planting fee 4000万元用于紫杉醇原料药生产 40 million Yuan for PTX crude drug producing 1500万元用于品牌宣传及市场渠道的建立 15 million Yuan for branding and marketing 500万元用于周边曼地亚红豆杉资源的战略性投资 5 million Yuan for strategic investment for around area Taxus Madia resource

15. 2.融资条件 Financing conditions • a.中国林业以合理的市盈率进行股权出让，权益人可通过 资本市场获利退出。 Reasonable P/E for equity sell, holder can make a profit from capital market and quit. • b.可转换债券 Convertible securities • c.要约收购 Tender offer

16. 八、财务分析和递延预测Finance analysis and deferred forecasting • 注： 1、产品销售率按90%计算。 Calculated sales rate 90%. 2、紫杉醇原料药单价按80万元/公斤计算。Calculated PTX crude drug 800,000 Yuan per kg. 3、此表不含附属产品的销售收入。The table does not contain sales of auxiliary products.

17. 九、可持续盈利能力分析Sustainable profitability analysis • 1 .有了稳定的紫杉醇原料药，即可联合有批号的医疗机构生产针剂，销售面向终端客户，盈利能力和利润将显著提高。 Once we have stable resource of PTX crude drug, we can cooperate with approved medical establishment and produce injection. Sell to end-user directly and improve our profit. • 2 .基于如下一组数据：Based on the following data: • 枝条提取利用率：70%（实际85%以上） withes extract utilization:70% （ actual over 85%) • 枝条中紫杉醇含量：0.04%（实际0.04%-0.09%） withes content PTX:0.04% (actual 0.04%-0.09%) • 原料销售率：90% sales rate of raw material:90% • 每4斤鲜枝出一斤干枝：25%（实际上33.3%） 2 kg fresh withes produce 0.5 kg dry withes:25% (actual 33.3%) • 原料药价格：80万元/公斤（实际80-120万元/公斤） PTX crude drug price: 800,000 Yuan per kg (actual 0.8-1.2 million Yuan per kg)

18. 上述数据安全边际高，预测利润有保障。 The above data has high margin of safety, the forecasting profit easy to come true. • 3.附加产品的开发 Auxiliary products development • a.萃取分离后的油脂类物质可生产出高级护肤品 the separation after extraction can produce advanced cosmetic • b.残渣经过处理可用作肥料 the processed residual can be used as fertilizer • c.其它衍生产品，紫杉酸可用于治疗若干种慢性炎症性疾病，其中包括继发性进行性多发性硬化症、风湿性关节炎以及外用治疗牛皮癣和特应性湿疹等等。以上新用途无疑将大大增加紫杉醇的销售量。 other derivant, PTX can cure several chronic inflammatory diseases, including rheumatic arthritis, psoriasis, and eczema etc, such new application obviously improve the sales of PTX. • 上述产品实现销售后，产值的可持续增长力强。 Realize the sales of above products, the value can sustainable improve.

19. 谢谢收看！ Thank you !