2007 Interim Results Announcement

1. China Foods Limited (0506.HK） 2007 Interim Results Announcement 19 September 2007

2. Disclaimer The slides herein are prepared by China Foods Limited (the "Company") solely to be used as a support for oral discussions of its interim results for the year 2007. They may not be distributed, reproduced or re-distributed or passed on, directly or indirectly, to any person, in whole or in part, for any purpose. By participating in this presentation, you agree to be bound by the forgoing restrictions. Any failure to comply with these restrictions may constitute a violation of applicable laws and regulations. The information contained in this presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis for or be relied on in connection with any contract or commitment whatsoever. This presentation may contain forward-looking statements. Prospective investors are cautioned that actual results may differ materially from those set forth in any forward-looking statements herein. The information contained in these slides herein has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information or opinion contained herein. The information contained in these slides should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. None of the Company, or any of their respective directors, officers, employees, agents or advisers shall be in any way responsible for the contents hereof, or shall be liable for any loss arising from use of the information contained in these slides herein or otherwise arising in connection therewith.

3. Contents • 2007 Interim Financial Performance • 2007 Interim Business Review and Analysis

4. China Foods Limited (0506.HK） 2007 Interim Financial Performance

5. Organization Structure COFCO 100% COFCO (Hong Kong) 74.25% China Foods Limited (0506.HK) Wines Beverages Consumer-pack Edible Oil Confectionary 100% 65% China Great Wall WineCo.，Ltd. COFCO Coca-Cola Beverages Limited 100% 100％ COFCO Le Conte Food (Shenzhen) Co., Ltd. 100% COFCO Huaxia Greatwall WineCo.， Ltd. 100％ Hunan COFCO Coca-Cola Beverages Co.,Ltd. COFCO Foods Sales and Distribution Co., Ltd. 100% 90% Tianjin Coca-Cola Beverages Co., Ltd. 50％ COFCO Greatwall Wine (Yantai)Co.， Ltd. Shenzhen Le Conte Marketing Services Co., Ltd. 100％ Jilin COFCO Coca-Cola Beverages Limited 55％ COFCO Navavally Jundung Vineyard Co.， Ltd. 100％ Zhanjiang COFCO Coca-Cola Beverages Limited 100% COFCO Wines and SpiritsCo.， Ltd. 100％ Hainan COFCO Coca-cola Beverages CompanyLimited 80% COFCO Huaxiahong Wines and Spirits (Shenzhen) Co.,Ltd. 100％ Gansu COFCO Coca-Cola Beverages Co.Ltd. 100％ Yantai Greatwall Wines and Spirits Co., Ltd. Xinjiang COFCO Coca-Cola Beverages Co. Ltd. 80% 100％ Qinghuangdao Huaxia Greatwall Wines & Spirits Co., Ltd. COFCO Coca-cola Beverages (Jiangxi) Limited 100％ 100％ 100％ COFCO Shaoxing Winery Co., Ltd. Other associated Companies(16)

6. Pro Forma Financial Results Highlights 2007 1H 2006 2H 2006 1H Turnover HK$4,294mm HK$3,375 mm HK$3,134 mm Operating Profit HK$322 mm HK$242 mm HK$296 mm EBITDA HK$391mm HK$301mm HK$362 mm HK$202mm HK$154 mm HK$188 mm Earnings per share HK7.25cents HK5.79cents HK7.11 cents ROE5.1% 4.5% 6.7% ROA 4.0% 2.9% 5.2% Profits after Tax & MI

7. Assets, Liabilities and Equities 30June 200731 December 2006(Pro forma) Total Assets HK$6,964mm HK$6,837 mm Total Liabilities HK$2,155mm HK$2,231 mm Minority interests HK$751mm HK$730mm Net Assets HK$4,059mm HK$3,876 mm Cash on book HK$1,335mm HK$1,308 mm Total Liabilities/Total Assets 30.94% 32.63% Interest Bearing Debt/Net Assets 16.7% 15.4% No. of Shares Issued 2,791 mm shares 2,791 mm shares

8. Pro Forma Turnover Breakdown 2007 1H 2006 1H +/-% (HK$mm) Wine 1,081 901 19.9% Beverages 1,570 1,289 21.8% 1,516 793 91.2% Confectionery 128 151 (15.4%) Total 4,294 3,134 37% Consumer-pack edible oil

9. Pro Forma Operating Profit and Net Profit Operating Profit Net Profit 2007 1H 2006 1H +/-% 2007 1H 2006 1H +/-% (HK$mm) (HK$mm) Wine 143.2110.929.1% Beverages 83.586.4(3.4%) (6.9) 5 — Confectionery （18.3）（3.6）— Wine 211.8 164 29.2% Beverages 124.6 131.8 (5.5%) (0.7) 11.6 — Confectionery （14.4）（0.1）— Consumer-pack edible oil Consumer-pack edible oil

10. Pro Forma Net Profit and EPS Growth (HK$mm) (HK cents/share) 250 7.25 202.2 7.11 +2% 8 187.5 +7.9% 7 200 6 5 150 4 100 3 2 50 1 0 2006 1H 2007 1H 2006 1H 2007 1H Profit Attributable to Shareholders Earnings per share Note: The total number of issued shares for 2007 interim results is 2,791mm and the pro forma total number of issued shares for 2006 interim results is 2,640mm.

11. Total Assets and Net Assets by Business Total Assets Net Assets Others 9.1% Wine 38.2% Others 15% Confectionery 8.2％ Wine 45.2% Confectionery 7.5％ Consumer -pack edible oil 6% Consumer-pack edible oil 0.3% Beverages 31.9% Beverages 38.5%

12. China Foods Limited (0506.HK） 2007 Interim Business Review and Analysis

13. Wine business • Turnover of the wine business in 2007 1H reached HK$1,081 million, representing an increase of 19.9% over the same period of the previous year. • Sales volume in 2007 1H was 49,100 tonnes, 7.3% higher than that in 2006 1H. • Attributable to the increase in average selling price and the reduction of the cost of raw materials, the gross profit margin of the wine business increased by 3.1% compared with the same period of the previous year. • With the expansion of production capacity in our existing winery in 20071H, our total production capacity increased by 30,000 tonnes to 140,000 tonnes as at 30 June 2007. • The first phase construction of a new vineyard in Yantai was completed in 2007 1H. After the completion of the second phase construction, the vineyard will become a premium chateau encompassing research and development of premium wines, top-quality vine planting, promotion of oenology and vineyard resort. • We carried out a series of marketing and promotion activities, including organizing the Olympic Wine Label Competition and sponsoring a premium golf tournament in China, the 2007 Pine Valley Beijing Open. • We have also introduced Italian and Spanish sparkling wines under the Greatwall label to further enhance our product portfolio and brand image. • The Shaoxing wine business recorded sales amount of HK$11.10 million in 2007 1H, an increase of 45% over the same period of the previous year. We aim to further develop “孔乙己” and “黄中皇” into well-known brands.

14. Beverages business • The beverages business recorded a turnover of HK$1,570 million, increased by 21.8% compared with the same period of the previous year. Among the total sales , sparking beverages account for 83%, while still beverages account for 17%. • Due to increased investments in marketing and marginal increase in commodity costs, the operating profit decreased by 5.5% during 2007 1H compared with the same period of the previous year. • A bottler was established in Jiangxi in 2007 1H. It is expected to commence production in 2008. We are also applying to establish a bottler in Xinjiang. In addition, a can production line was put into use in the bottler in Gansu in July 2007.

15. Beverages business (Cont’) • We negotiated with Coca-Cola China Industries Limited (CCCI ), a subsidiary of The Coca-Cola Company, a share transfer master agreement involving several bottlers. The agreement, which was announced on 6 August 2007, involves two transactions: • -The first transaction: COFCO Coca-Cola Beverages Limited (CBL), a 65%-owned subsidiary with The Coca-Cola Company owning the remaining 35%, will transfer to CCCI all of its shares in, and outstanding shareholder’s loans owed by, its wholly-owned subsidiaries, each of which holds minority equity interest in the bottlers in Chengdu, Harbin, Kunming, Taiyuan, Wuhan and all equity interest in the bottler in Jilin. CCCI will transfer to CBL all of its shares in, and outstanding shareholder’s loan owed by, its wholly-owned subsidiary, which holds majority interests in the bottlers in Qingdao and Jinan. CCCI will pay to CBL RMB50m. After completion of the transaction, CBL will no longer indirectly hold equity interests in bottlers in Chengdu, Harbin, Kunming, Taiyuan, Wuhan and Jilin, and will indirectly hold 75% equity interests in each of the bottlers in Qingdao and Jinan. The transaction is to be completed by 30 September 2007 or such other date as may be agreed by the parties. • -The second transaction: CCCI will transfer to CBL all of its shares in, and outstanding shareholder’s loan owed by, its wholly-owned subsidiary, which holds 40% equity interest in the bottler in Beijing. The consideration to be paid by CBL to CCCI is RMB 270mm. This transaction is to be completed after the expiration of the CCCI management control period, which will be no later than 10 January 2009 or such other date as may be agreed by the parties. • After the completion of the transactions, China Foods will control 10 bottlers in Tianjin, Hunan, Hainan, Gansu, Zhanjiang, Beijing, Qingdao, Jinan, Jiangxi and Xinjiang (a bottler is currently being established in Xinjiang). In addition, China Foods hold minority interests in the bottlers in Nanjing, Hangzhou, Wenzhou, Shanghai, Huizhou and Guangzhou. Our franchise with The Coca-Cola Company will cover Beijing, Tianjin, Hebei, Shandong, Inner Mongolia, Gansu, Qinghai, Ningxia, Tibet, Hunan, Jiangxi, Guizhou, Hainan, Zhanjiang, Maoming and Xinjiang (which is currently a distributor’s franchise territory). • The completion of the transactions will give the CBL group a contiguous bloc of territory covering 118 million people, and enable our bottlers to better share transportation, storage and distribution channels and other resources, which will be beneficial to the beverage business over the longer term.

16. Consumer-pack edible oil business • The consumer-pack edible oil business recorded a turnover of HK$1,516 million, an increase of 91.2% over the same period of the previous year. If the sales of associate companies were included for 2006 1H, the increase would be 19%. • Due to significant pressure from rising raw materials cost, the consumer-pack edible oil business recorded loss during the period under review. • In order to improve the brand image, we introduced new visual identities for the “Fortune” and “福臨門”in 2007. • Product mix is gradually being adjusted. Sales volume of the first-tier products currently counts for 27% of the total sales volume, compared with 21% of the same period of previous year. This will help improve profitability over the longer term. • In order to further reduce costs, we have secured a new supplier in southwest China.

17. Confectionery business • The confectionery business recorded a turnover of HK$128 million in 2007 1H, representing a decrease of 15.4% from the same period of the previous year. The decline is due to the tightening of credit policies towards distributors by controlling sales on credit. • Due to the increase in average selling price and cost reduction, the gross profit margin improved from 42.4% in 2006 1H to 45.9% in 2007 1H. • Due to the turnover decrease, loss incurred during the period under review.

18. Thank you！