《电力监管年度报告20xx》

1、20xx年电力行业回顾

20xx年，我国电力工业在新的起点上实现了又好又快发展，发电量和电网规模已居世界第一位。转变发展方式进展明显，电源结构逐步优化，水电装机2.3亿千瓦，年发电量6900亿千瓦时，风电并网运行规模超4500万千瓦，均居世界第一。技术装备水平显著提高，在大型空冷机组、循环流化床机组应用等方面取得国际领先地位。电力节能降耗成效明显，火电供电煤耗为330克/千瓦时，较20xx年下降11%，达到世界先进水平。电力体制改革迈出重要步伐，中国电建、中国能建组建完成，电网企业主辅分离取得实质性进展。

具体来说，一是电力建设实现了跨越式发展。截至20xx年底，全国发电装机总容量达10.6亿千瓦，同比增长9.3%；年发电量达4.72 万亿千瓦时，同比增长11.9%；220 千伏及以上输电线路回路长度达48 万公里，同比增长7.9%；变电容量达22 亿千伏安，同比增长10.5%。我国发电量和电网规模已居世界第一位。

二是转变发展方式进展明显。电力能源结构逐步优化,30 万千瓦以上火电机组占火电装机容量比重超过70%，百万千瓦级超超临界机组建成投产38 台。新能源和可再生能源快速发展，水电装机2.3 亿千瓦，年发电量6900 亿千瓦时。风电并网运行规

模超过4500 万千瓦，均居世界第一。核电已投运装机1191 万千瓦，在建规模占世界40%以上。

三是技术装备水平显著提高，火电机组从中高压参数发展到超超临界参数，单机容量由十万千瓦等级发展到百万千瓦等级，并且在大型空冷机组、循环流化床机组应用等方面取得国际领先地位。

四是电力节能降耗成效明显，火电供电标准煤耗为330 克/千瓦时，比20xx年下降11%，达到世界先进水平，烟气脱硫机组占燃煤总装机容量的89%，单位火电发电量二氧化硫排放比20xx年减少了60%以上，煤泥、煤矸石综合利用发电装机达2600 万千瓦，比20xx年增长约3 倍。

2、20xx年电力行业预测

20xx年全社会用电量5.1-5.15万亿千瓦时，同比增长

8.5-9.5%，全年最高用电负荷6.8亿千瓦，同比增长11.3%。预计20xx年全国新增发电装机规模约9000万千瓦，发电装机总量将突破11亿千瓦。

3、火电投资大幅下降

发电业务亏损导致企业投资意愿严重下降。数据显示，20xx年全国火电投资仅1054亿元，同比减少372亿元，降幅高达26%。

自20xx年以来，我国电源投资总额均保持在3000亿元以上，但火电投资逐年下降，20xx年火电投资总额不足20xx年的一半。

国家电监会指出，作为电力供应主力，火电投资持续下降将对电力供应造成重大影响。

4、五大发电集团电力业务整体亏损

中央五大发电集团20xx年电力业务亏损达到151.17亿元，同比负增长348.32%。

《报告》表示，我国发电企业负债率居高不下。截至20xx年底，华能、大唐、华电、国电、中电投等五大发电集团资产总额30397亿元，负债26054亿元，负债率达85.71%，同比提高了0.69个百分点。

在经营数据方面，20xx年发电企业财务费用大幅增加。华能、大唐、华电、国电、中电投等中央五大发电集团20xx年主营业务收入9804.54亿元，同比增20.14%；财务费用为946.89亿元，同比大增37.45%；电力业务亏损151.17亿元，同比负增长348.32%。除华能电力业务赢利1.92亿元外，其他均为亏损。

5、国有企业所占比例有所上升

目前在中国的电力供应格局中，以五大发电集团为首的央企占据了主要地位。在20xx年全国10.6亿千瓦总装机容量中，五大集团持有51472万千瓦，约占48.75%。如果再算上其他央企类发电企业比如神华、华润和地方国有发电企业的装机容量，全国电力供应的71.41%由国有企业控制，同比提升了1.33个百分点。

第二篇：联盟会员年度报告

機密性文件：僅提供Interush聯盟會員閱覽 請勿外流

在20xx年x月所舉辦之夏季發表會上，我們介紹了我們的投資銀行並說明了Interush上市準備作業的進度，至今已過了一年。

所有聯盟會員對於Interush上市這件事抱有高度關注，因為上市意味著公司將走入下一個重要的發展階段。對於擁有已結束之第一階段與第二階段虛擬股票選擇權資格之聯盟會員來說，意義更是重大。這份年度上市進度報告，含括了美國證交會SEC允許我們提供的資訊。我們深信這份報告將幫助各位了解公司的上市進度正順利且如期進行中。關於上市，公司之所以無法針對所有提問之個人一一答覆，一方面除了時間上的考量外，另一方面更是由於法律明文規定，在美國證交會SEC審核並通過上市申請前，公司不可先行宣傳推銷公司股票之故。

20xx年x月，Interush在日本、台灣及香港的發表會上，向各位介紹了我們的投資銀行B. Riley (B. Riley & Co., LLC) 公司的執行董事Paul Donnelly先生。在演說中，Donnelly先生概述了在美國申請上市的公司，皆必須執行的基本步驟。

同時表示，Interush正如期進行這些步驟。Donnelly先生在他的演講中，說明這些步驟將花費18到24個月的時間。當時我們預計照著這樣的規劃進行，除非將來遇到無法預知的外力，才可能去影響或延後這樣預計的進度。

目前，Interush採用投資銀行的建議，進行多數私人公司申請上市時使用的策略。第一步，我們預計先從機構投資人當中，鎖定一個初期投資人。如此，在具有高度市場尊敬度的財務公司針對本公司進行盡職調查時，有助於建立公司的信賴度。這個步驟目前已在進行中，

B. Riley公司已接洽數家機構投資人，並安排了數場三方會議，與會成員包括機構投資人、

B. Riley代表和我本人，也就是Interush執行長Martin Matthews。

以上步驟成功完成之後，我們將慎選一個各方面考量皆最適宜的時機，進行上市作業。我們考量的條件包括所需花費的時間與成本、交易市場的選擇及投資市場的狀態。同時，我們的審計公司，也是擁有合格執照的McGladrey (McGladrey & Pullen LLP) 會計師事務所，也不斷進行公司三年的財務審計作業。前兩年的美國審計作業是最花時間的部分，目前這個部分已完成了百分之98，亦將於近期內完成。待前兩年之審計作業完成後，McGladrey將立刻進入20xx年的財務審計作業。目前Interush的母公司、Interush全球分公司，及我們的稅務顧問，都已結算這部分的財務報表。這個階段將照我們在20xx年x月所公布的預計時間去完成。

除此之外，全球知名的法律顧問公司－K&L Gates (K&L Gates LLP) 律師事務所，也在我們的上市進程中扮演重要的角色。其專業團隊深知國際市場上市公司的組織架構，我們將採納其建議，重組公司股份架構。

在K&L Gates公司的計畫當中，Interush控股公司 (Interush Holdings Ltd.) 將重組架構，將股份分配給員工與投資組織，根據其在職服務年數與投資內容。股份包括分配給執行長的

股份，其亦將成為最大的個人股東；股份亦將分配給美國、台灣及香港員工及主要顧問。當然，亦包括分配給機構投資人及公開交易市場的股東。重要的是，Interush將從公開上市中取得足夠資金，將紅利配發給所有持有虛擬股票選擇權權益之聯盟會員。

Interush集團在20xx年的全球總收益大幅成長，突破8500萬美金，我們也預計20xx年的全球總收益將接近1億美金。Interush目前在美國擁有約20位員工、台灣50位、香港12位，全球正職員工總數超過80位，員工數亦持續不斷增加當中。

Interush和美國銀行( Bank of America )擁有良好的企業合作關係，我們更無任何企業貸款。Interush在近期亦通過了萬事達卡公司的審核，針對香港及中國區聯盟會員推出Interush萬事達聯名借記卡。我們與世界知名集團萬事達卡之間的企業合作關係，也使得Interush在世界各地都能接受包括Visa、萬事達卡、美國運通卡等信用卡及借記卡的付款。

Interush也非常明白，隨著公司不斷成長的同時，亦將引來市場上各種不法人士的覬覦，試圖以攻擊公司的方式來獲取不肖利益。針對這些為了自身利益，惡意散布公司不實消息的人，公司未來將採取非常積極的作為，與所有聯盟會員溝通，公司也將透過公關部門，積極舉辦一般大眾、企業、及消費者市場的公關活動。

在公司大規模拓展聯盟會員市場及一般消費者市場的同時，請您知悉，在公司提出詳細的上市營運計劃書前，我們無法一一透露上市所有細節。Interush管理團隊在此鼓勵全體聯盟會員，讓我們一同積極參與、推廣我們即將在全球消費者市場中所進行的各種計劃，包括IRIS套組、子網站及全新ARC電子商務計畫中，以幫助加速公司成長。

祝 安祺

Interush Inc.

Martin J. Matthews,

President, CEO and Chairman

安全港聲明

這份年度報告中，可能存在預測、評估及預估其他未來可能性的聲明。這樣的預估聲明，是根據目前的狀況去評估未來的結果。這樣的評估，可能因為各種風險及不確定性，導致與最終結果產生差異。請勿過分依賴此評估聲明，本聲明僅將報告發布時，我們的意見真實反映。任何未根據歷史事實所做出的聲明皆為預估聲明。有許多重要的因素，可能導致Interush實際結果和這份預估聲明的預測值產生差異。Interush拒絕承擔任何更新這份預估聲明所產生的法律責任。

Annual Update Report to Affiliates about the Interush Public

Listing.

CONFIDENTIAL INFORMATION: For Interush Affiliates Only

It is the time for the Annual Interush Seminars that are held each September in Japan. At this time, we would like to update all Affiliates on the progress of the Interush public listing. The public listing should be of great interest to all Affiliates as it is expected to bring the next very important stage of development to Interush. This will also be important for those who remain qualified to participate in the company’s Phantom Stock Option Bonus

Program, for Phase One and Phase Two which had been previously closed. We trust that this Annual Update which is providing information in as much detail as permitted, will help you understand that our public listing process is moving forward smoothly and as planned. Please understand that, due to the time this would require and also the legal reasons of not promoting the purchase of a public stock before American Securities and Exchange Commission formal review and approval, we are not able to respond to each inquiry individually.

Last September 20xx, Interush introduced Paul Donnelly, Managing Director of B. Riley& Co., LLC, our Investment Banker in the seminars held in Japan, Taiwan and Hong Kong. At this introduction, Mr. Donnelly outlined the basic steps which all companies are

required to follow to become publicly listed in the USA, and he confirmed and announced that this process was already well underway with Interush. Mr. Donnelly advised in his presentation that this would likely be an 18 to 24 months process. At this time, we continue to expect to be on this schedule, unless there are any outside influences that could potentially cause a delay .

Currently, Interush is proceeding with the strategy advised by our Investment Banker, B. Riley & Co, which is used by the majority of companies who become publicly listed. We are planning to secure an initial minority investment from an Institutional Investor as the first step, to help increase credibility in the company by a well-respected financial firm that has conducted their own due diligence. This step is already underway and B. Riley & Co. has already approached several Institutional Investors who have subsequently met with B. Riley and also me, Interush CEO, Martin Matthews.

Following a successful closing of the above, we will proceed with the public listing through the best possible means at that date, considering various factors such as the time and cost requirements, choice of preferred stock exchange, and investment community

conditions. Also, our auditing firm McGladrey & Pullen LLP, Certified Public Accountants, have been working on the three years of financial audit. The first two years USA audits were the most time consuming and are now about 98% complete, and should be very finalized very soon. Immediately following the completion of this, McGladrey & Pullen LLP will proceed with the audit of 20xx fiscal year, now that the holding company, all

subsidiaries and our tax advisors have closed all these records as well. The timing of this is all within the schedule announced in September 20xx.

Additionally, K+L Gates LLP, one of the world’s most respected legal firms, also plays important roles in our public listing process. Working with their experts in the structure of

public international companies, we are working on the planned restructuring for share ownership in the public market.

Going forward with the plans developed by K+L Gates, Interush Holdings Ltd. is being restructured to accommodate all the groups and individuals who are entitled to shares through their years of service or investment. This includes shares for the Chief Executive Officer who will become the largest individual shareholder; plus shares allocated for our Corporate Staff and key Advisors in USA, Taiwan and Hong Kong; and of course, for the Institutional Investors and the Public Market Shareholders. And most importantly, please note that Interush will secure sufficient funds from the public offering, in order to payout the Phantom Stock Option Bonus for all the qualified Interush Affiliates.

Worldwide revenue for Interush Group in 20xx grew to exceed $85 million USD, and we are projecting revenues of close to $100 million USD in 20xx. Interush currently has about 20 staff members in the USA; plus 50 in Taiwan; and 12 in Hong Kong; for a total of over 80 full-time staff members and we are continuing to expand our support teams. Interush has a very positive and well-established business relationship with Bank of America and has absolutely no corporate debt. Interush was also recently reviewed and approved by Master Card to offer a co-branded debit card for the Hong Kong and China market. These expanding relationships have also allowed Interush to accept credit and debit card payments worldwide, including Japan, through Visa, Master Card, and

American Express. This has also allowed Interush to become more efficient through an advanced business e-Commerce transaction system to accommodate the increasing usage of debit card in Japanese market.

Interush recognizes that as we have grown, we have attracted the attention of various groups who wish to profit by attempting to undermine our success. In response to the

misinformation and conjecture often suggested by outsiders with their self-serving interest, Interush will become much more proactive in our communications to our Affiliates and also more proactive in our Public Relations activities to the regulatory, business and consumer markets. While the company has extensive plans developed to expand our Affiliate network and our Consumer Business, please understand that we are unable to elaborate on these specific details until after the prospectus for the public listing is released.

Interush Management would like to encourage all Affiliate to continue to provide close attention to all the business developments underway to accelerate the company’s growth through the update and expansion of our core IRIS Application Suite, new consumer websites and the introduction of our new e-Commerce program for worldwide consumer markets.

Interush Inc. Martin J. Matthews,

President, CEO and Chairman

Safe Harbor Statement The information presented on this Annual Update Report to Affiliates may contain predictions, estimates or other information considered to be forward-looking statements. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are

cautioned not place undue reliance on these forward-looking statements which reflect our opinions only as of the date of this report. Any statements that are not statements of historical fact should be considered forward looking statements. There are a number of important factors that could cause Interush's actual results to differ materially from those indicated by the forward looking statements. Interush disclaims any obligation to update any forward looking statement.

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