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1 2015 :

2 4 138%9% 76% One Bay East 21%

3

4

5 (852) (852)

6 5

7 7%

8

9 6.9% 66% 50.5% 2.4% 2.5% 3.7% 9%76%73% 8

10 A 16%25% CHINA MAGBest Luxury Wedding Hotel Travel+Leisure 21% 18%51% 5% % % 18.9%

11 2015 GRI 6.5% 10

12 1% 2% 3% 11

13 40,875 38,136 +7% 14,853 14,283 +4% a 10,969 10,474 +5% 9,793 8, % 16,024 35,930-55% 5,759 5,486 +5% % % % % % 443, ,658 b 414, ,412-2% 310, ,890 +3% 47,197 59,259-20% 307, ,495 +1% 317, ,111 +1% 3,031 3, % 14.9% 18.9% -4.0% pt (a) 50% (b) 12

14 , , , ,000 4,000 6,000 8,000 10,000 12, ,000 20,000 30,000 40,000 50, ,000 6,000 9,000 12,000 15, , , ,000 20,000 30,000 40,000 50, , ,000150,000200,000250,000300,000350,

15

16 7% 6% 16% 25% 18% 51% 4%2%12% 9% 1%

17 172,292 9,882 7,846

18

19 3%5% 5%100% J. Crew Miu Miu Pandora Philipp Plein Rado Sulwhasoo Christian Louboutin Men Issey Miyake Maison Margiela Tea WG Boutique Bottega Veneta Giuseppe Zanotti Jimmy Choo Prada Roger VivierLOG-ON 18

20 Ballin Leonard Paris MM6 Pleats Please Vivienne Westwood Café Adidas China Tang WallyMartin Handford Happily Ever After 9% 98%76% 19

21 163, ,700 +2% * 8,020 8,420-5% % 172, ,074 +2% * 5,949 5,674 +5% 2,317 2,121 +9% ,315 1,454-10% 9,882 9,550 +3% 5,312 5,066 +5% 1,977 1, % % 7,846 7,474 +5% 20

22 (%) 2,049,000 5, ,639 4,263,000 2, , , ,180 1,368,000 1, , , , , , , , ,550 8,471 7,508 6,635 21

23 (%) (%) (%)

24 /3 Avenue Montaigne 307 2,377 23

25 54,114 2,687 2,346

26

27 6% 3% 7% 99% AMOREPACIFIC Burberry Beauty kikki.k Kurt Geiger Laura Mercier M.A.C Origins Stuart Weitzman Adidas Camper Max & Co.Greenhouse by Gaia Group Häagen-Dazs dessert café Joe & The Juice 26

28 AKids SquareKingkow Marks & Spencer Baby Watsons Baby Donguri Republic LABO Hair & Nail by IL COLPO LensCrafters OSIM OTO Sugarman Tic Tac Time Tissot Square on 9th floormetro Kids by Metro Books Gundam Docks at Hong Kong II Hugh Jackman 98%65% 27

29 54,070 52,100 +4% % 54,114 52,142 +4% 2,017 1,883 +7% % 2,687 2,544 +6% 1,775 1,701 +4% % 2,346 2,276 +3% ,070 52,100 46,200 43,600 37, ,687 2,544 2,096 1,908 1,732 28

30 #1 91 1,517 29

31 (%) (%) (%)

32 (%) 936,000 2, ,731 1,033, ,339 31

33 32

34 3% 96% 65% (%) (%) (%)

35

36 Mount Nicholson 31,318

37 When you re talking about building a house, you re talking about dreams -Robert A.M. Stern 36

38 397, , , ,000 CHELSEA COURT 43, ,200 13,000 25,514 24,472 +4% 3,838 3,739 +3% 1, % % 31,318 29,306 +7% 37

39 3.2% One Bay East Peninsula East 189, , , ,000 Peninsula East 256, ,000 38

40 39

41 40

42

43 16% 25% 25% 100% UA IMAX Creemee J Ed Hardy Hollys Coffee Hublot Roberto Cavalli Junior Shiseido SPA Zenith 2015 International Vertical Marathon Chengdu ICSC 2015 Western Commercial Real Estate Value List The Most Demonstrative City Complex in Western China 33% 42

44 16% 43

45 44

46 98% 81% 11% CitySuper 100% 82% 45

47 1/3 1/3 1/2 * * * 46

48 75% 50% 85% 80% 80% 1 47

49 48

50 49

51 18%51% 21% 21% (%) (%)

52 1 51

53 245, , , , ,000 94,000 82,000 77,000 62,000 52,000 GS05-R21-A01 52, , , ,000 98,000 71, , , , , , , , , ,000 84, , ,000 76,000 52

54 118,000 84,000 70,000 K 48, ,000 90,000 66,

55 19 *( ) The Murray* ( ) *( ) *( ) * ( ) *

56

57 (GRI ) 56

58 The Murray 57

59

60 17,

61 4% 2%12% 60% 40% 15% 35% 2% 23% 20%3% 8% 50% 50% 66% 11,526 14,196-19% 5,075 4, % % % 17,245 19,148-10% 60

62

63 ICT ICT 2%3% 18% PIHK Network Limited 9% 1% 62

64 63

65 Google HKMA/TVB ICSC The Golden Globe Tigers Awards Marketing Campaign of the Year The Marketing Events Awards 2015Best Event Consumer The Golden Globe Tigers Awards Best Use of Social Media in Marketing AMEC Awards 2015 Most Innovative Use of Measurement in a Digital Campaign The Marketing Events Awards 2015 Best PR Strategy The Marketing Events Awards 2015Best Digital Integration Unveiling VITA The New Home of Beauty: The Marketing Events Awards 2015 Best Event, Targeted Community 64

66 Global Awards for Brand ExcellenceAward for Brand Excellence in Retail Sector PR Awards 2015Best PR IdeaBest PR Campaign ConsumerBest PR Campaign Public Services The Marketing Events Awards 2015Most Creative Event PR Awards 2015 Best Engagement Targeted CommunityBest PR Campaign Corporate Social Responsibility The Marketing Events Awards 2015Best Event CSR 2015 PMAA Dragons of Asia AwardBest Use of Public Relations The Marketing Events Awards 2015Best Stunt ICSC 6S ICSC I AM HERE! 100A 65

67 /WeB The Marketing Events Awards 2015Best Experiential Event Hong Kong Business2014 Travel + Leisure e-zonee Your Focus 2014/15 66

68 Navis Inspire Awards 2015 Squarefoot 2015 TripAdvisor ISO

69

70

71 English WeCan ,000 70

72 71

73

74 73

75 ISO14001 PLU S HKQAA CSR INDEX 74

76 75

77 1, ,

78 77

79 (GRI) G4 78

80 79

81 (I) 5% 9%76%73% 48% 55% 8% 7% 16%8% 6% 25% 16% 27% 18% 51% 3% 28% 14%34% 3%2% 9%47% 3% 24%35% 7% 4% 21% 24.3% 80

82 2.8%3.2% 8% 5% 58% 55% % 5%76% 11%9% 48%

83 (II) 1% % 70% 34%37% 20% 39,863 48,965 8,763 11,023 (1,647) (767) ,197 59, %18.9% 82

84

85 A. 1,218 4,137 5, ,912 16,801 2,107 20,049 22, , ,204 3,258 20,102 23,360 i. ii. iii. B. 2, ,504 8,714 5,144 13,858 10,741 5,621 16, ,800 16,289 28,089 12,259 16,289 28,548 1, , , ,847 25,293 22,464 47,757 84

86 (III) 14,6002,400 (IV) 80% (V)

87 86

88 A.2.1 F.1.3 I. A. A

89 A.2 88

90 A.2.1 A.3 89

91 A.4 (1) (2) 90

92 A.5 (a) (b) (c) (d) (a) (b) (c) 91

93 A.6 B A, B A, B A, B A, B A, B A, B A, B A, B A, B B A, B A B 92

94 2/2 1/1 1/1 4/4 1/1 3/4 1/1 4/4 1/1 4/4 1/1 4/4 1/1 1/2 4/4 4/4 1/1 3/4 1/1 1/4 1/1 3/4 3/4 1/1 2/4 1/4 1/1 0/1 0/3 2/3 1/1 0/1 4/4 1/1 3/4 1/1 0/ A.7 93

95 B. B.1 (a) (b) (c) (i) (ii) (d) (e) (f) 94

96 (g) (h) (i) 93 (a) (b) 225, ,000 75, (b) 95

97 C. C.1 (i) (ii) (iii) C.1.3 C

98 C C.3 (I) (a) (b) (c) 97

99 98 (II) (a) (i) (ii) (iii) (iv) (v) (vi) (b) (II)(a) (i) (ii) (III) (a) (b) (c) (d) (e) (f) (g) (h)

100 99 (i) (j) (k) (IV) (a) (b) (c) (d) (e) C (a) (b) (c) (d) C.3(II)(a) (e) (f) (g) (h) (i) (j) (k)

101 D. D.1 D.2 C.3B.1A.5 D.3 99 (IV) 100

102 E. E

103 E.2 (a) (b) (c) (d) (e) (a) (b) (c) (d) F. 102

104 F.1.3 F.1.3 I % II. III. (i) (ii) % (a) (b) (c)

105 (I) 104

106 (II) (III) COSO Committee of Sponsoring Organizations of the Treadway Commission > > > > (IV)

107 ,

108 (A) 122 (L) (J) 107

109 (a) (b)(c)

110 (A) (i) 63 Joyce Boutique Holdings LimitedJoyce Hotel Properties Limited Joyce 69 FCCA, FCPA, FCMA, CGMA, FCIS, CGA-Canada Joyce 109

111 44 BSc(Hons), MRICS, MHKIS, RPS 55 OBE 69 ACA, FCCA, FCPA, AAIA, FCIB, FHKIB GBS, CBE, JP

112 SBS, JP 72 BBS 59 St. Gallen Dannebrog DannebrogHofjægermester Dannebrog 60 Green Dragon Gas Limited Greka Drilling Limited 111

113 GBS, OBE, JP 69 MBBS(HK), FHKAM, FHKCCM, FHKCP, FFPHM(UK), FRCP(Edin), FRCP(Lond), FRCP(Glasg), FRACMA, FRACP (1) (2) (3) 3.13 (ii) A(i) 112

114 (B) (i) 20% 804,445 (0.0265%) 100,000 (0.0033%) 100,000 (0.0033%) 15,000 (0.0005%) 300,000 (0.0148%) 1,265,005 (0.0629%) 3,787 (5.40%) 5,000, ,000 (0.02%) (1) (ii)(iii) (2) 113

115 (ii) 3,500,000 (0.12%) 04/07/2011 1,500,000 1,500, /07/ /07/2016 (1) 05/06/2013 2,000,000 2,000, /06/ /06/2018 (2) 3,500,000 (0.12%) 04/07/2011 1,500,000 1,500, /07/ /07/2016 (1) 05/06/2013 2,000,000 2,000, /06/ /06/2018 (2) 3,320,000 (0.11%) 04/07/2011 1,320,000 1,320, /07/ /07/2016 (1) 05/06/2013 2,000,000 2,000, /06/ /06/2018 (2) 2,200,000 (0.07%) 04/07/2011 1,200,000 1,200, /07/ /07/2016 (1) 05/06/2013 1,000,000 1,000, /06/ /06/2018 (2) 1,250,000 (0.04%) 04/07/ , , /07/ /07/2016 (1) 05/06/ , , /06/ /06/2018 (2) 1,250,000 (0.04%) 04/07/ , , /07/ /07/2016 (1) 05/06/ , , /06/ /06/2018 (2) (1) (i) (ii) 300, , ,000 (2) (3) 114

116 (iii) 14/06/2013 1,500,000 1,500,000 (0.074%) /06/ /06/2018 (a) (b) 352 (C) 3365% (i) 1,789,006,608 (59.02%) (ii) HSBC Trustee (C.I.) Limited 1,789,006,608 (59.02%) (1) (i)(ii) (2) Lynchpin LimitedLLWF Investment Partners LimitedWIPLWheelock Investments LimitedWIL LL248,871, %WIPL1,349,610, %High Fame Investments Limited187,525, % WIL1,789,006, % 115

117 (D) (I) (a) (b) (c) (i) 281,024,732 (ii) 9.27% (d) 1% (e) (f) (g) (i) (ii) (iii) (h) (i) (ii) (iii) (iv) 622 (i) 116

118 (II) 04/07/2011 1,540,000 1,540,000 05/07/ /07/ ,320,000 (300,000) 2,020,000 05/07/ /07/2016 2,320,000 (300,000) 2,020,000 05/07/ /07/2016 2,320,000 (300,000) 2,020,000 05/07/ /07/2016 2,320,000 (300,000) 2,020,000 05/07/ /07/ ,820,000 (900,000) (300,000) 9,620,000 05/06/2013 2,500,000 (400,000) 2,100,000 06/06/ /06/ ,500,000 (400,000) 2,100,000 06/06/ /06/2018 2,500,000 (400,000) 2,100,000 06/06/ /06/2018 2,500,000 (400,000) 2,100,000 06/06/ /06/2018 2,500,000 (400,000) 2,100,000 06/06/ /06/ ,500,000 (2,000,000) 10,500,000 23,320,000 (900,000) (2,300,000) 20,120,000 (1) 2,300,000 (2) (3) (E) 117

119 (F) (2) (i)(ii)(iii) (G) (i) 30% (ii) 30% (H) (I) 118

120 (J) (i) 117, ,174 25:24:26:25 25:26:24:25 25% 51.89% (ii) Wisdom Gateway LimitedWGL City Super WGL WGL WGL WGL WGL 119

121 (iii) (a) J(ii) (1) (2) (3) (b) 14A (1) (2) (3) (4) (iv) (a) (b) (K) 70% 120

122 121

123 122 ICT (L) Andrea Limited * Chavalit Uttasart * * * * * * * * * * * * * ZEMAN Allan * * * * *

124

125 1 40,875 38,136 (21,282) (19,472) (1,560) (1,363) (1,632) (1,496) 16,401 15,805 2 (1,548) (1,522) 2 14,853 14,283 6,729 28,293 3 (460) (1,743) 21,122 40,833 4 (1,879) (1,930) 1,156 1, (11) 20,635 40,154 5 (3,829) (3,730) 16,806 36,424 16,024 35, ,806 36,

126 16,806 36,424 (5,554) (426) (5,437) (426) (117) (2,032) (76) (1,508) (76) (524) (1,272) (288) 10 9 (8,848) (781) 7,958 35,643 7,629 35, ,958 35,

127 8 310, , ,779 25, ,785 22, ,612 19, ,102 3, , , ,768 47, ,974 3, ,510 18,725 65,634 70, , , (1,558) (1,071) 22 (10,748) (10,425) (334) (315) 20 (62,244) (69,331) (74,884) (81,142) 18 (22,681) (23,664) 19 (18,854) (14,496) 16 (612) (1,116) 5(d) (1,242) (1,476) 20 (8,463) (8,653) (51,852) (49,405) (126,736) (130,547) 317, , ,441 29, , , , ,495 9,452 8, , ,

128 3,030 26, ,080 9, , ,557 8, ,255 35,930 35, ,424 (314) (464) 5 (773) (8) (781) (314) (464) 35,935 35, , (11) 11 (99) 99 (3,636) (3,636) (3,636) (1,667) (1,667) (1,667) (568) (568) 24(a)) 26,346 (26,339) (7) 29, , , ,495 8, ,111 16,024 16, ,806 (1,855) (6,546) 6 (8,395) (453) (8,848) (1,855) (6,546) 16,030 7, , (15) (28) 28 (3,819) (3,819) (3,819) (1,667) (1,667) (1,667) (365) (365) (4) (4) 29,441 (1,118) 2, , ,728 9, ,

129 (a) 15,951 15,108 (a) 11,887 6,992 (a) 27,838 22,100 (1,808) (1,797) (2,172) (2,527) , (1,730) (1,367) (1,482) (1,661) 24,053 18,253 (5,436) (9,463) (1,297) (1,696) (116) (118) (1,592) (2,103) (5,827) (73) 2,729 (6) (c) 1, ,447 (1) (70) (7,290) (10,719) 50 19,261 26,961 (25,361) (34,417) 876 (5,486) (5,303) (365) (568) (11,025) (13,327) 5,738 (5,793) 18,625 24,485 (954) (67) 23,409 18,625 (b) 23,409 18,

130 a. 14,853 14,283 (363) (633) (174) (152) 1,548 1, ,951 15,108 (8,337) (7,653) 15,038 13,291 2 (1) (188) 103 1,363 2,035 4,358 (834) (334) 37 (15) 14 11,887 6,992 27,838 22,100 b ,510 18,725 (101) (100) 23,409 18,625 c. 2, (2,130) (4) (290) (29) (22) (46) ,

131 1. 130

132 a. 14,470 11,759 6, (1,255) 17,344 12,165 10,516 5,761 (1,246) 15,031 2,305 1, (9) 2,313 18,018 2,241 (1,542) (93) ,697 (25) 18 (57) (64) 18,018 2,266 (1,542) (93) ,761 1, (4) 274 2, (194) ,423 2, (194) , (41) , (34) 80 1,510 (246) 2 (3) (247) 1, (31) 331 (4) (4) (298) 40,088 15,079 6,729 (802) (1,580) 1, , (299) 507 (690) (690) 40,875 14,853 6,729 (460) (1,879) 1, ,635 13,397 10,896 28, (1,303) 37,955 11,413 9,905 27, (1,269) 36,518 1, (34) 1,437 15,539 1,762 (1,778) (100) 930 (64) (23) 79 15,426 1,669 (1,778) (100) 921 (41) 671 1, (6) 381 3,319 1,051 (61) (246) ,129 3,206 1,034 (20) (246) , (41) , (37) 175 1,666 (140) 1 (139) 1, (37) 315 (1) (1) (370) 37,101 14,307 28,293 (1,769) (1,692) 1,262 (11) 40,390 1, (238) 502 (738) (738) 38,136 14,283 28,293 (1,743) (1,930) 1,262 (11) 40,

133 b. 14,470 (148) 14,322 13,397 (144) 13,253 18,018 18,018 15,539 15,539 1,549 1,549 1,600 1,600 2,848 2,848 3,319 3,319 3,501 (78) 3,423 3,616 (94) 3, (72) 715 1,035 (132) ,173 (298) 40,875 38,506 (370) 38,136 c. 311, , , ,005 58,737 57,493 73,239 87,421 5,685 4,703 67,554 82,718 7,728 7,208 18,244 20,197 17,245 19, ,049 3,918 4,088 1,189 1,284 2,729 2, , ,412 29,146 22, , ,658 29,332 36,187 6,065 5,292 35,397 41,

134 d. 5,355 13, ,218 6, ,137 6, ,487 4, ,332 4, ,559 14,982 3,495 4,646 1,548 1,522 (i) 24.3%(ii) (iii) e. 19,152 19,126 11,409 11,549 21,685 18,977 3,406 2, ,875 38,136 14,853 14, , , , , , , , , , , , ,

135 2. a ,190 1, ,548 1, (i) 3,632 3, ,000 13, (ii) (14,470) (13,397) 2,584 2,402 (16) (9) (iii) (363) (633) (174) (152) 2 4 i. ii. iii. 134

136 b iv 83 5,411 5,494 32,591 iv 197 7,243 15, ,958 21, ,440 10, ,608 17, ,605 9, ,092 16, ,787 8,500 13,437 11, ,695 4, ,210 8,971 v 95 2,022 4, ,417 iii 24,923 ii vii ii ii ii vi ii ,426 34,203 51,500 1,538 89, ,577 1,794 42,681 89,000 1, ,577 i. ii. iii. iv. v. vi. vii. viii. 21(d) 135

137 c ,500,00114,000, ,000,00117,500, a. 24.3% b. 50% c. d. e. 136

138 4. 1,018 1, ,196 1,956 2, (678) (904) 1,473 1, ,879 1,930 a. 2.4%2.0% b. c. 137

139 5. 1,592 1,540 (21) (56) 1, (5) 9 2,639 2,353 5(c) (13) (56) ,829 3,730 a. 16.5%16.5% b. 25%25%10% c. 30% 60% d. e. f. 10% 138

140 g. 20,635 40,154 3,553 6, (242) (329) (951) (4,598) (26) (47) (138) (97) (13) (56) (30) ,829 3, , , , , , ,486 a. b

141 8. a. 229,150 31, ,097 (91) (74) (165) 6,988 6,215 13,203 (29) (29) 12,319 (12,828) (509) 28, , ,629 25, ,890 (2,390) (884) (3,274) 647 4,550 5,197 (1,340) 975 (365) 6, , ,113 30, ,177 b. 280,113 12, ,853 17,324 17, ,113 30, , ,629 9, ,206 15,684 15, ,629 25, ,890 c. 211, ,375 27,724 13,001 40, ,099 13, ,100 41,014 17,063 58, ,113 30, , , ,007 29,334 9,770 39, ,341 9, ,111 41,288 15,491 56, ,629 25, ,

142 d ,325 76,982 25, ,839 18,292 21,493 1,229 41, ,617 98,475 26, , ,296 74,897 24, ,918 18,237 21,752 1,299 41, ,533 96,649 25, ,

143 229,150 13, ,343 (91) (91) 6, ,269 (29) (29) 12,319 (3,898) 8,421 28, , ,629 9, ,206 (2,390) (2,390) ,128 (1,340) 2,520 1,180 6, , ,113 12, ,

144 5.2% 5.2% % 4.2% % 4.0% % 7.5% % 6.4% % 5.0% e. f. 11,616 9,776 17,187 14,720 1,333 1,534 30,136 26,

145 9. a. 4,904 6,770 2,089 17,562 11,786 43,111 (11) (5) (7) (19) (42) ,779 (367) (47) (414) (14) 38 (1) 540 4,897 7,986 2,110 17,871 12,146 45,010 (160) (143) (119) (214) (636) ,362 (107) (42) (149) (606) (2,148) (2,754) (14) (14) ,148 8,634 2,023 16,011 12,532 43, ,355 7,714 8,972 18,950 (1) (2) (3) (6) ,401 (356) (45) (401) ,431 8,102 9,468 19,983 (19) (45) (57) (121) ,421 (102) (40) (142) (117) (573) (690) (14) (14) ,478 8,204 9,972 20,569 3,233 7,156 2,023 7,807 2,560 22,779 3,915 6,555 2,110 9,769 2,678 25,

146 b ,023 2,923 8, ,145 2,929 9,042 2,265 2,011 2,023 1,613 7,912 3,233 7,156 2,023 4,542 16, ,703 2,885 8, ,843 2,891 8,723 2,926 1,712 2,110 2,701 9,449 3,915 6,555 2,110 5,592 18,172 c. 145

147 10. 7,384 7,225 6,949 1,961 1,853 9,186 8,802 8,599 6,263 17,785 15,065 17,785 22, (3,083) (2,798) 14,702 19,651 4,041 a. 185 b. 24.3% c. d. 67.6% Mega Shekou Container Terminals Limited e. 146

148 f. 3(a)) 106,328 20,816 (67,775) (24,524) 34,845 32,049 3, ,845 (8,190) (3,015) 23,640 29, % 7, ,384 9,186 8,802 1, (462) (19)

149 11. 7,999 9, ,999 9,918 9,613 9,112 17,612 19, (2,524) (2,045) 15,088 16, ,999 9, (11) (810) (68) (574) (79) 12. 6,493 2,468 1,583 1, ,102 3,

150 ,289 40,797 5,479 6,746 37,768 47,543 a. b. c. d ,955 31, ,384 26,147 33,

151 15. a ,067 3,003 2,784 3,974 3,851 b (15) (18) c. 94%93%)86%91%) 150

152 , , ,170 1,168 2, , , , ,170 1,168 2, , , ,170 1,168 2,

153 a. 21,690 19,585 8,230 8,230 19,226 18,852 42,719 28,142 b. c. d. e ,510 18,725 a. b. 1.9%3.2% 152

154 22,772 16, , ,510 18, ,982 3,552 7,980 9,599 3,083 2,798 2,524 2,045 4,304 4,868 22,681 23,

155 20. 2,363 10,255 2,459 10,495 19,046 7,752 8,648 30,865 30,153 1,991 3, ,416 1,617 1,892 3,968 7,773 4,109 5,188 2,500 8,779 29,265 25,085 1,006 35,874 40,058 70,707 77,984 8,463 8,653 54,492 59,677 7,752 9,654 62,244 69,331 70,707 77,

156 a. 23(b) 68,579 29,366 2,128 3,376 41,670 3,572 70,707 77,984 b. 23(a) (b) % % 3.0 3, , , ,230 12,017 12, , , , ,601 58,690 65,945 70,707 77,984 c. d. e. f. 155

157 21. (i) (ii) (iii) (iv) 622 a. 9,000,000 11,750,000 3,100,000 1,500,000 25,350,000 b. Binomial Model 156

158 c ,820,000 (900,000) (300,000) 9,620,000 9,620, ,500,000 (2,000,000) 10,500,000 6,300, ,320,000 (900,000) (2,300,000) 20,120,000 15,920, ,220,000 (400,000) 10,820,000 8,500, ,250,000 (750,000) 12,500,000 5,000, ,470,000 (1,150,000) 23,320,000 13,500, d. y(i) 2,656 12,890 7,235 12,890 7,235 12,890 7,235 12,890 12,890 4,131 7,593 2,670 4,738 1,690 32,852 76,

159 22. a. 10,748 10,425 (700) (673) 10,048 9,752 2,644 6,976 (109) (602) 8, (14) (21) (1) (22) 2,902 7,498 (124) (524) 9, (4) (39) (456) 11 1 (483) 3,133 7,530 (117) (498) 10,048 b , , , , ,591 1,517 7,178 1,457 8,037 1,628 7,730 1,

160 23. a. 2.1% 3.6% 83%85%) 17%15%)20(b)) 1 %1%) b. 159

161 (32) (4) (2) (36) (2) (4) (2) (3,279) (1,950) (11,955) (420) (110) (3,793) (1,650) (11,951) (420) (110) (250) (250) (8) (3,072) (1,473) (11,959) (670) (112) (3,600) (1,315) (11,955) (670) 1 (112) (8) 4,636 52,764 (4,594) 52,764 (938) 1,950 (40,764) (899) 1,450 (40,764) (82) (44) (2) (9,137) (2) (8) 1% 160

162 c. 10% d (70,707) (74,345) (7,443) (14,856) (43,460) (8,586) (22,681) (22,681) (18,862) (2,091) (1,529) (199) (127) (127) (43) (14) (43) (27) (1,029) (501) (9) 123 (284) (331) (93) 48 (9) 48 (52) 61 (94,637) (97,606) (26,366) (16,790) (45,368) (9,082) (77,984) (78,265) (9,438) (13,069) (46,976) (8,782) (23,664) (23,664) (20,204) (1,955) (1,267) (238) (347) (347) (315) (32) (559) (264) (118) (543) (82) (89) (244) (128) (102,667) (102,734) (29,888) (15,067) (48,367) (9,412) 161

163 e. 27 f. i. 13 8(d) 13 8,076 8, , , ,556 1,556 14,217 14, ,315 17,

164 3,714 3, ,719 1,163 4, ,142 1,142 13,170 13, ,282 16,282 ii. 163

165 g ,707 77, (23,510) (18,725) 47,197 59, , , , , % 19.4% 14.9% 18.9% 24. a. 3,030 3,030 29,376 3,030 26, ,031 3,030 29,441 29,

166 b. (y)(i) (r) 3,030 26, ,894 59,614 10,216 10, (11) (11) (99) 99 (3,636) (3,636) (1,667) (1,667) 26,346 (26,339) (7) 29, ,906 64,600 12,147 12, (15) (28) (28) (3,819) (3,819) (1,667) (1,667) 29, ,567 71,323 c. d

167 25. 91,927 88, ,298 89, ,323 89,078 (51) (45) (20,416) (23,900) (533) (533) (21,000) (24,478) 71,323 64, ,441 29,376 41,882 35,224 71,323 64,

168 26. a. b. 52(b) 2(c)

169 28. a. (I) 2, ,504 1,598 1,011 2,609 8,714 5,144 13,858 6,221 9,909 16,130 10,741 5,621 16,362 7,819 10,920 18, ,123 1,123 11,800 16,289 28,089 12,520 25,325 37,845 12,259 16,289 28,548 13,643 25,325 38,968 2, ,963 2,721 1,011 3,732 20,514 21,433 41,947 18,741 35,234 53,975 23,000 21,910 44,910 21,462 36,245 57,707 (II) 1, , ,042 2, , , ,375 2,936 25,293 22,464 47,757 22,023 38,620 60,643 i. ii. b. c

170

171 a. 29 b. (z) c. i. (o) (p) 170

172 (f) (c)(ii) ii. (c)(iii) (k) (f) iii. (a) (b) (b)(a) 171

173 (k) d. i. (k)) (s)(i) (i) ii. iii. iv. v. e. i. ii

174 iii. 220 iv. 325 f. s(iv) (v) (k))s(iv) t(v) (k) g. (h) 173

175 h. i. ii. iii. i. i. (d)(i)) 174

176 ii. iii. (e)(k) j. k. i. (c)(ii) (k)(ii)(k)(ii) 175

177 ii. 176

178 34 6 l. i. ii. m. n. o. 177

179 p. q. r. s. i. ii. iii. iv. v. vi. 178

180 t. u. i. ii. iii. (d)(i) iv. v. i. (a) (b) (c) 179

181 ii. (a) (b) (c) (d) (e) (f) (i) (g) (i)(a) (h) w. i. ii. x. 180

182 y. i. Binomiel Model ii. z

183 (i) (ii) 182

184 # ,100,00020, ,000,00010,000, Ridge Limited 10,00010, # 7,000,000,0007,000,000, Wharf Peak Properties Limited 30,000,0003,000, ,000500, Olinda Limited ,00010, # Wharf China Holdings Limited 5,129,000, ,000, iii 45,000, ii 200,000, ii 223,533, i 240,000, ii 330,000, ii 2,377,000, ii 170,000, ii 40,000, ii 1,192,000, ii 20,000, ,000, ii 33,100, ii 165,000, iii 3,500, i 22,330, ii 745,000, ii 155,000, ii 220,000, ii 307,580, ii 26,000, ii 240,000, ii 537,500, ii 166,800, ii 187,000, ii 274,000, ii 140,900, ii 111,400, ii 144,600, ii 146,990, ii 310,000, ii 320,000, ii 126,000, ii 418,000, ii 1,080,000, ii 106,000, ii 180,000, ii 69,300, ii 172,000,

185 * 3,641,350,047708,750, i 4,000,000, ii 229,800, ii 70,000, ,200,0001,440, ,049,20070, i 4,095,195, # Wharf Hotels Limited ,000, ,000100, ,0001, Smart Event Investments Limited ii 3,850, ii 8,000, ii 7,000, # 10,000,0001,000, * 6,857,598,9562,011,512, ,000,000750,000, ,000,000740,000, ,000,00040,

186 iv Wharf Finance Limited iv Wharf Finance (BVI) Limited # Wharf Hong Kong Limited 500,000, Wharf China Finance Limited 5,000,0005,000, iv Wharf Finance (No.1) Limited Wharf Finance (BVI) No. 1 Limited iv Wharf Finance (HK) Limited Wharf Finance (2014) Limited) iv Wharf MTN (Singapore) Pte. Ltd Start Treasure Limited Mega Shekou Container Terminals Limited

187 Market Prospect Limited # * i ii iii # 186

188 Wharf Finance (BVI) Limited Wharf Finance Limited Wharf Finance (No. 1) Limited Wharf MTN (Singapore) Pte. Ltd

189 511, , , , , , , , , , , , ,000 1,241,000 1,127, ,000 2,636,000 1,551, , , ,000 14, , , , , , , , ,000 8,350,000 4,263,000 2,049, ,000 1,368,000 1,969,000 1,033, , , , , ,000 5, , , ,000 13, Chelsea Court 43,000 43, Mountain Court 46,000 46, ,000 91, ,200 42, ,000 6, , A 188, ,400 83, ,800 50,800 4,934,700 1,667,400 1,643,100 1,058, , , ,000 13,609,700 5,930,400 3,692,100 1,728,200 2,259, One Midtown 1,900 1,900 5 Peninsula East 255,600 42, , ,500 42, ,000 1,900 g 596,000 11, , , , ,000 11, ,000 1,015,500 53, ,000 1,900 14,625,200 5,930,400 3,745,700 2,688,200 2,260,

190 346,719 KPP % 126,488 KML 11 S.A % (a) KML 11 S.B % (a) KML 11 S.B % (a) KML 11 S.D % (a) KML 11 S.B. & D /83 100% (a) KML 11 R.P % (a) KML 11 S.B. & D /99 100% ,814 KML 91 S.A. & KML 10 S.B % 397 (a) KML 11 S.B % 393 (a) KML 11 S.D % 48,309 KIL % 112,441 IL 731, IL 728, IL 727, 2850/60/ % IL 725 S.A. & R.P., IL 724 S.A. 280,510 NKIL % 48,438 KTIL % TWTL % RBL 512 & / /77 100% 29,640 RBL 556 S.A.R.P. & S.B % 32,145 RBL 522, 639, % 97,670 RBL 534 S.E., S.F. & R.P % 76,726 RBL % 165,809 NKIL 5805, 5806 & % 12,286 IL 7 R.P. & IL 45 S.A.R.P % KML 10 S.A % 68, % 66,000 TWIL % 42,625 YTIL 40 RP % 816,872 YTML % YTML 28 YTML 29 YTML ,930 IL % 189

191 () , , , , ,800 13, , ,000 8, , , , ,000 5,349,000 3,136,000 2,213,000 1,592,000 1,592, ,199,000 1,149,000 50,000 10,580,800 6,221,800 4,164, , , , , ,000 2,989,000 2,558, , ,000 7,805,000 4,799,000 2,425, , , ,000 A 2,202,000 1,463, , ,000 g 14,990,000 8,820,000 3,742, ,000 1,473, , , , , , ,000 1,322,000 1,322,000 26,892,800 15,041,800 7,906,000 1,150,000 2,795,

192 148, % 95, % (b) % (c) % (d) % (e) / % (f) 2047/ % 136, % (e) % 253 (f) 2047/ % , / % , % 1,299, % , / % 100% 356 (b) % , % 230 (e) % 191

193 1,426,000 1,426,000 1,970,000 1,970,000 2,638,000 2,638,000 C/D 825, ,000 FG05 883, , ,000 78, , ,666,000 1,666,000 GS05-R , ,000 GS05-R21-A01 565, ,000 D1 3,000 3, , ,000 E18 1,464,000 1,464, , , ,053,000 1,053, , ,000 2,802,000 2,802,000 3,740,000 3,740,000 1,625, ,000 1,312,000 2,717,000 2,717, , ,000 3,462,000 3,462,000 1,116,000 1,116, , ,

194 3,585, / % 2,563, / % 1,180, % 914, % 258, % 553, / % 1,315, % 211, % 198, % 638, % 877, % 585, % 170, / % 526, % 3,654, % 2,501, % 5,425, % 1,276, % 3,314, % 1,416, % 2,121, / % 558, % 160, % 193

195 56,000 5,000 38,000 13, ,000 2,000 4,277,000 2,348, , , ,392,000 88,000 2,304, ,000 62, ,000 B 710, , ,000 10,000 39,714,000 2,666,000 1,228,000 35,820,000 g 3,000 3,000 40,000 13,000 3,000 24,000 35,000 35, ,000 26, ,000 16,000 A18AA21 2,000 2,000 A 902,000 41, ,000 2,000 1,270,000 89,000 1,163,000 18, ,000 27, ,000 3,000 KXCD D ,000 8, ,000 14, ,000 11, , , , , ,000 43, , ,000 34,000 2,000 32, ,000 50, ,000 46, /1 4,000 4, a 05/278b 02/278b 04 1,428,000 1,182, ,000 27,

196 761, / % 884, / % (d) 2047/ % 800, / % 1,130, / % 454, % (c) % 1,976, % 2,867, / % 1,155, / % 1,526, % 603, % 639, % 1,069, % 305, / % 1,181, % 783, % 582, % 680, % 511, % 902, % 648, % 1,156, / % 195

197 1 1,225,000 83,000 1,142,000 1,010,000 76, ,000 R21 02 A R ,000 44, ,000 8, ,000 5, ,000 R , ,000 3# 2 17,000 17,000 E 4#, 7#, 8#, 12# 13# 395, ,000 1,550,000 1,550,000 3,659,074 1,236, ,903 1,865, , ,000 40, ,000 2,796, ,000 2,627,000 C 2,877, ,000 1,976,000 26,000 26,000 23,099,074 2,418,264 2,300,903 17,842, ,630 () 62,813,074 5,084,264 3,528,903 53,662, ,630 89,705,874 20,126,064 11,434,903 54,812,277 3,332,630 40,502,500 20,972,200 11,598,100 2,878,200 5,054,000 63,828,574 5,084,264 3,582,503 54,622, ,530 i 104,331,074 26,056,464 15,180,603 57,500,477 5,593,530 (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) 428, , ,356 3,900, , ,867 14,928, ,

198 2,046, / % 756, / % 448, / % 114, / % 207, / % 524, % 708, % 922, % 2,212, / % 1,002, % 2,335, / % 6,080, / % 1,619, / % 197

199 40,875 38,136 31,887 30,856 24,004 14,853 14,283 13,280 14,170 11,388 a 10,969 10,474 11,298 11,040 8,083 9,793 8,247 12,206 13,927 6,727 16,024 35,930 29,380 47,263 30,568 5,759 5,486 5,151 4,998 3, , , , , ,057 22,779 25,027 24,161 19,870 18,984 17,785 22,449 19,205 16,673 10,198 17,612 19,030 19,585 19,530 16,934 8,102 3,740 3,744 3,868 2,703 37,768 47,543 53,764 48,915 47,511 23,510 18,725 24,515 18,795 32,528 6,183 6,254 8,981 9,825 5, , , , , ,973 (70,707) (77,984) (82,587) (74,420) (75,993) (56,029) (52,563) (48,210) (37,672) (31,106) 317, , , , ,874 3,030 3,029 3,029 26,346 26,285 26,285 29,441 29,376 29,376 29,314 29, , , , , , , , , , ,257 9,452 8,616 8,698 8,405 7, , , , , ,874 47,197 59,259 58,072 55,625 43, (%) 15.3% 19.4% 21.1% 22.4% 21.4% (%) 14.9% 18.9% 20.4% 21.7% 20.6% c (%)b 5.2% 12.4% 11.2% 20.9% 16.7% (%) 52.5% 52.4% 45.6% 45.3% 39.7% 35.9% 15.3% 17.5% 10.6% 10.5% 198

200 19,380 17,553 15,940 16,208 13,364 9,372 8,554 7,406 7,832 6,056 a 7,088 6,420 4,796 6,043 4,285 7,905 7,817 4,194 5,947 4,285 35,750 19,256 5,816 13,143 10,757 2,930 2,754 2,203 2,093 1, , ,492 98,410 95,782 86,684 18,397 18,510 21,183 18,831 15,514 5,510 4,238 4,009 4, ,350 7,551 7,989 4, ,362 1, ,858 2,921 29,732 17,797 17,272 9,235 5,784 16,900 18,412 15,886 7,717 3,769 5,276 7,130 3,099 3,011 3, , , , , ,277 (49,589) (39,844) (38,009) (31,282) (20,670) (22,530) (15,029) (13,030) (22,887) (18,689) 170, , ,515 92,002 79,918 2,754 2,754 2,754 2,448 2,448 16,573 16,573 16,573 7,758 7,758 19,327 19,327 19,327 10,206 10, , ,219 91,748 76,158 64, , , ,075 86,364 75,162 7,560 7,042 6,440 5,638 4, , , ,515 92,002 79,918 32,689 21,432 22,123 23,565 16, (%) 20.0% 16.7% 19.9% 27.3% 22.5% (%) 19.2% 15.8% 18.8% 25.6% 21.1% c (%)b 24.5% 16.1% 5.9% 16.3% 15.3% (%) 41.3% 42.9% 45.9% 34.6% 45.7% 8.2% 14.3% 37.9% 15.9% 18.2% (a) (b) (c) (d) 50% 199

201 Tsim Sha Tsui p.14 Costume of Painter kotkkoji girls p.68-69

202

203

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