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1 於百慕達註冊成立之有限公司 股份代號 1031 年報 2010 Golden Resorts Group Limited 黃金集團有限公司 Golden Resorts Group Limited 黃金集團有限公司 Golden Resorts Group Limited 黃金集團有限公司 (Incorporated in Bermuda with limited liability) Stock Code: 1031 Annual Report 2010 Annual Report 年報 2010

2

3 Clarendon House 2 Church Street Hamilton HM11 Bermuda Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre 11 Bermudiana Road Pembroke HM08 Bermuda Conyers Dill & Pearman

4 3

5 4 541,000,000414,000,000 31% 159,000,000131,000,000 21% 382,000, ,000,000 35% 99,600, ,900,000 14,800, ,600,000 4,700,000 93,700, ,000, ,000,000 29%32% 70% 382,000, ,000,000 35%71%68% ,700, ,100,000 13,600,000 16,800,000

6 5 (i) 1,435,680,377 (ii) 1,350,000 (iii) 16,000,000 (iv) 1,000, ,166, ,800, ,000, ,200, ,300,000 3,816,000,0001,208,000, ,000,

7 74% 69% 30% 5% ,906,000 Active Dynamic Limited Kingston Capital Asia Limited 12,000,000,000 (i) (ii) (iii)(iv) (v)(vi) 14 6

8 14 (a) (b) 7

9 8

10 6/9 6/9 8/9 8/9 2/2 1/1 7/9 1/2 1/1 8/9 2/2 1/1 14 9

11 10

12 (a) 10 (b) (c) ,000 53,000 11

13 540, , ,000 53, ,

14 ,030,

15 541, , , , ,516 64, , , , , , , ,687 (179,910) 139, ,399 (1,199) 100, ,687 (179,910) 139, ,200 99, ,915 (180,816) 137, ,064 3,875,279 3,252,731 2,859,876 3,484,791 2,982,584 (55,526) (44,815) (34,915) (174,045) (351,998) (3,886) (2,540) (2,568) (5,662) (10,136) 3,815,867 3,205,376 2,822,393 3,305,084 2,620,450 (1) (2) 17 14

16 (1)

17 Wharton School 16

18 Youngstown State University American College Pacific Union Real Estate Company 35 17

19 XV (a)xv78 (b)352 (c) 6,772,269,895 5,256,080,000 12,028,349, % 1 2 6,772,269,895 5,256,080,000 12,028,349, % ,788,000 88,788, % 3 (1) 12,028,349,8951,881,329,896 Sure Expert Limited15,939,999 4,875,000,000 Active Dynamic LimitedSure Expert Limited Active Dynamic Limited 6,772,269,895 (2) Active Dynamic Limited5,250,000, ,250,000,000 4,200,000,0006,080,000 6,080,000 5,256,080,000 (3) 88,788,00088,788,000 XVXV XV352 18

20 Sure Expert Limited 1 1,881,329,896 1,881,329, % Active Dynamic Limited 2 4,875,000,000 5,250,000,000 10,125,000, % 3 1,125,000,000 1,125,000, % 4 18,852,000 1,530,750,000 1,549,602, % 5 (1) Sure Expert LimitedSure Expert Limited (2) Active Dynamic LimitedActive Dynamic Limited (3) (4) (5) 1,530,750,000405,750,000Choose Right Limited 1,125,000,000 1,125,000,000 19

21 % 20

22 GRAHAM H.Y. CHAN & CO. CERTIFIED PUBLIC ACCOUNTANTS (Practising) HONG KONG

23

24 4 541, ,739 (16,771) (13,574) (236,981) (175,838) 287, , ,582 7, ,170 4,743 93,666 (14,778) 107,569 (154,307) (152,173) 9 (5,811) (20,801) 7 (48,381) (33,850) (1) 100, , , , , ,915 1,346 1, , ,

25 100, , (20,321) (53,392) 1,913 1,740 (1,372) (18,408) (53,024) 82, ,663 81, ,891 1,346 1,772 82, ,663 24

26 16 2,206,347 2,305,632 2,343,959 12,702 7, ,575 5,575 5, ,000 4,121 2,611,922 2,315,328 2,369, ,925 2,105 2, ,960 4,047 2, , ,609 38, ,328 76, ,948 50,261 43, , , ,891 1,263, , , ,526 44,218 33, , ,526 44,815 34,915 1,207, , ,014 3,819,753 3,207,916 2,824, ,198 88,678 73,863 3,712,669 3,116,698 2,748,530 3,815,867 3,205,376 2,822,393 3,886 2,540 2,568 3,819,753 3,207,916 2,824,

27 ,432,487 2,087, ,000 1,832,576 2,087, ,413 2, ,328 76, ,242 62, , , ,410 1, , ,963 2,743,149 2,227, ,198 88, ,639,951 2,139,119 2,743,149 2,227,797 26

28 73,863 1,650, ,344 8,512 1, ,674 2,822,393 2,568 2,824, , ,915 1, ,687 (53,392) 368 (53,024) (53,024) (53,392) , ,891 1, ,663 (17,564) 17, (66) , , , , ,001 1,031 1,031 13,258 13,258 13,258 (8,532) 8,532 (73,863) (73,863) (73,863) (1,800) (1,800) 88,678 1,902, ,388 13,172 1, ,822 3,205,376 2,540 3,207,916 88,678 1,902, ,569 13,172 1, ,151 3,200,886 2,540 3,203, ,819 1,671 4,490 4,490 88,678 1,902, ,388 13,172 1, ,822 3,205,376 2,540 3,207,916 99,558 99,558 1, ,904 (20,321) 1,913 (18,408) (18,408) (20,321) 1,913 99,558 81,150 1,346 82,496 (16,077) 16,077 (10) (300) 10 (10) (310) (310) 173 3,292 (759) 2,706 2,706 14, , , ,488 24,457 24,457 24,457 (35) ,198 2,393, ,990 36,835 3, ,482 3,815,867 3,886 3,819,753 27

29 100, ,687 1 (27,674) (5,628) (2,785) (1,412) (4,170) 99, ,219 2,316 17,306 3,495 3,495 14,778 (107,569) 24,457 13, , ,187 (820) (45) 539 (106,995) (36,330) (10,721) 11,308 10, , ,022 (47) 190, ,975 (33,871) (30,021) (400,000) (4,121) 15,652 75,000 (388,750) (76,751) 15,995 6,209 2,785 1,412 (728,841) (87,620) 265,432 2, ,488 1,031 (310) (1) (73,863) (1,800) 504, ,033 (33,907) 248, , , , ,033 28

30 (a) 38 29

31 2 (b) 2(f) 30

32 2 (b) (c) 10% 50% 20% 33% 10% 31

33 2 (c) (d) 2(h) (e) (f) 32

34 2 (f) 39 33

35 2 (f) 30 34

36 2 (f) 39 35

37 2 (f) (i) (ii) 2(l) (g) (h) 36

38 2 (h) (i) (i) (ii) 37

39 2 (i) (iii) 2(j) (iv) (j) 28 (k) 38

40 2 (k) (l) (m) (i) (ii) (iii) (iv) 39

41 2 (n) (i) (ii) (iii) (a) (b) (c) (o) 40

42 2 (p) (i) (ii) (iii) (i) (ii) (iv) (ii) (iii) (v) (q)

43 (18,408) (15,648) 19,099 19,099 13,971 (109,349) (14,778) 107,569 (116) 1,671 27,390 2,819 27,274 4,

44 ,702, ,487 2,343,959 15,775 (15,775) 625,712 (625,712) 716, , , ,674 1,569, ,227 2,305,632 21,306 (21,306) 710,431 (710,431) 642,569 2, , ,151 1, ,822 1,475, ,430 2,206,347 19,099 (19,099) 679,568 (679,568) 578,791 30, , ,918 1, ,482 43

45 (i)(ii) ,069 92,724 37,518 36, , ,829 4,672 4, , ,739 44

46 5 (a) (b) (c) (d) 45

47 5 123,741 35, ,001 5, ,912 30,064 13,035 43, ,805 35, ,036 5, ,011 98,965 (2,562) 162,240 7, , ,060 5,085 (72,654) (20,127) (3,979) (96,760) 4,743 4,743 (3,495) (3,495) (2,316) (2,316) (10,773) (3,715) (290) (14,778) 1,689, , , ,427 2,528,058 31, ,794 37,942 8,694 12,767 21, ,374 46

48 5 97,299 33, ,885 5, ,984 26,400 15,962 42, ,699 33, ,847 5, ,346 71,912 (3,823) 115,369 99, , , ,649 (70,340) (25,040) (6,807) (102,187) 93,666 93,666 (3,495) (3,495) (17,306) (17,306) 75,816 25,476 6, ,569 (1) (1) 1,613, , , ,649 3,075,465 27,469 2,522 29,991 10,532 13,922 14, ,488 47

49 5 590, ,346 (43,099) (42,362) (5,665) (5,245) 541, , , ,991 1, ,674 5,628 (49,472) (26,176) (99,862) (105,219) (24,457) (13,258) (3,495) (3,495) (2,316) (17,306) (14,778) 107,569 (1) 100, ,687 2,528,058 3,075,465 5,575 5, , ,328 76,751 5,960 4, ,358 90,893 3,875,279 3,252,731 43,374 38,488 12,152 6,327 55,526 44,815 48

50 5 10% 375, , ,674 5,628 2,785 1,412 1, ,582 7, ,471 33, , ,381 33,850 53,525 54, ,906 88,304 49

51 8 (a) (b) 100, ,687 11,379 30,848 8,080 4,226 (27,617) (22,041) (973) (16,052) 9,131 3,019 12%16.5% 50

52 9 16,771 13, , ,219 9,176 7,919 1,262 5,811 20,801 3,495 3,495 2,316 17,306 (9,273) (1,593) 10 13,989,000 90,149, ,863 51

53 (a) 99, ,915 4,844,402,854 4,079,677,124 (b) 4,844,402,854 4,079,677, ,164,105 11,630,829 42,021,465 5,036,588,424 4,091,307,953 52

54 13 (20,321) (20,321) (53,392) (53,392) 1,913 1,913 1,740 1,740 (1,372) (1,372) 1,913 1, (18,408) (18,408) (53,024) (53,024) 14 6,500 6,000 1, ,001 1,948 9, , ,448 6,000 11, ,439 53

55 14 6,500 5, ,512 1, , ,220 5, , ,939 1, ,165 1,805 1,000,0001,000,000 1,500,000 1,000,000 54

56 16 1,523, ,588 6,575 25,618 1,881, , ,487 2,165, ,588 6,575 25,618 2,523,184 29, ,021 (78,639) (1,600) (80,239) 1,355 1,355 2,166, ,575 5,370 25,618 2,474, ,575 5,370 25, ,563 2,166,758 2,166,758 2,166, ,575 5,370 25,618 2,474,321 1,430, ,575 5,370 25,618 1,738, , ,227 2,166, ,575 5,370 25,618 2,474,321 37, ,992 (26,336) (26,336) (89,278) (89,278) 2,077, ,076 5,525 25,618 2,396, ,076 5,525 25, ,219 2,077,480 2,077,480 2,077, ,076 5,525 25,618 2,396, ,699 4, ,225 52,822 48,690 1,145 2, ,219 (61,333) (1,600) (62,933) (52,822) (52,822) 161,056 4,217 3, , ,056 4,217 3, ,689 54,179 42, ,561 99,862 (24,020) (24,020) (54,179) (54,179) 179,522 4,853 5, ,352 2,077, , ,641 2,206,347 2,166, ,519 1,153 22,202 2,305,632 55

57 16 (a) (b) (c) 35,099,00020,321,000 54,177,00053,392, ,569,000 (d) 1,513,200,000 1,552,001,000 2,431 1,041 3, ,462 1,041 3, ,511 1,041 3,552 1, , ,299 1,041 3, ,422 1,041 3,

58 17 1 2,242,127 2,298,648 (408,313) (134,226) 1,833,815 2,164,422 (401,328) (76,751) 1,432,487 2,087, ,328,000 76,751, % 100% Futuremind Holdings Limited 1 100% 100% GR Casa Real Holdings Limited 5 100% 100% 2 100% 100% 100, % 100% Glory State Limited 1 100% 100% 57

59 17 100, % 100% Goventure Finance Limited^ 1 100% 100% Next Champion Limited 1 100% 100% 28 * 10,000,000 80% 80% Target All Investments Limited^ 1 100% 100% Good Start Group Limited^ 1 100% 100% Brilliant Red Limited # 1 100% 100% Crystal Sea Group Limited^ 1 100% 100% Noble Brand Limited # 1 100% 100% Right Business Limited # % 100% # ^ * 28 58

60 17 115,819 (115,819) ,000 Kingston Capital Asia Limited 19 2,925 2, ,960 4,047 1,913,000 1,740,000 59

61 21 152, , ,328 76,751 50,000,000 A 13 80,000,000(i) 25% (ii)a A18.89%(i)A 75.56% 90% (ii) 34 17% A

62 23 72,201 42,519 11,747 7,742 5,413 2,269 83,948 50,261 5,413 2, ,981 29, ,148 12, ,790 15,554 91,701 58,524 (19,500) (16,005) 72,201 42, ,005 12,510 3,495 3,495 19,500 16,005 19,500,000 16,005,000 19,500,000 16,005,000 61

63 23 59,690 29, ,857 12, ,511 13,404 72,201 42, , , ,908 44, , ,315 62,330 59,334 18, , , ,242 62, (597) 617, ,033 62

64 25 16,162 13,472 39,364 30,746 2,410 1,835 55,526 44,218 2,410 1,835 6,000,000 5,000, , , ,395 8, ,498 3, ,461 1, ,162 13, % 20,000 63

65 % 1% (i)(ii) (iii) ,160,000 12,160, ,000,000 10,000, ,788,000 78,788, ,475,545 (16,000,000) 132,475, ,166, ,166, ,218, ,218, ,000,000 (1,350,000) (2,400,000) 2,250, ,000,000 (1,000,000) 30,000, ,641, ,166,000 (17,350,000) (3,400,000) 1,030,057,

66 % 73.33% 82.63% % 0.210% 0.976% 2.414% 2.405% 4.868% 15% 30% 45% 60% 80% 100% AB8,610,0003,690,000 A B 15% 30% 45% 60% 80% 100% 65

67 % % 4.334% 20% 35% 50% 65% 80% 100% 6,150,000 24,457,000 13,258,000 66

68 29 3 5,572 5, ,572 5, ,572 5, ,955, ,880,000 46,429,000 46,429,000 34,106 46,062 52,528 34,106 33,655 75,149 35,237 41, , , ,000,000, ,000 30,000,000, ,000 8,867,766,956 88,678 7,386,323,823 73,863 (1,000,000) (10) 1,435,680,377 14,357 2,943, ,477,000,000 14,770 17,350, ,500, ,319,797, ,198 8,867,766,956 88,678 67

69 30 1,000,000 1,000, ,488,000 1,435,680, ,706,000 17,350, , , , ,033 3,819,753 3,207,916 68

70 ,650,305 69,332 8, ,270 1,857, (66) 219 1,001 1, , ,662 13,258 13,258 (8,532) 8,532 90,149 90,149 (73,863) (73,863) 1,902,253 69,332 13, ,088 2,139,119 1,902,253 69,332 13, ,088 2,139,119 (300) 10 (10) (300) 3,292 (759) 2, , ,131 24,457 24,457 (35) 35 (13,989) (13,989) 2,393,376 69,332 36, ,124 2,639,951 (a) (b) (i) (ii) (c) 2 28 (d) 209,456, ,420,000 69

71 32 (a) 5,960 4, , ,609 2,242,127 2,298, ,328 76,751 74,194 43,596 1, , , ,242 62,778 1,092, ,977 2,749,923 2,361,469 1,250, ,633 2,749,923 2,361, , ,226 25,114 29, , ,114 30, , ,399 (b) (i) 70

72 32 (b) (i) 29,751 31, ,326 21, ,328 2%2%4%2% 4% 2%2%4% 2% 2%4% 2% 2% 4% 8, ,053 71

73 32 (b) (i) ,708,000 6,196, % 15% 10% 10% 12,698 10% % 19,114 15%

74 32 (b) (ii) 30 73%56%78% 63% (iii) 73

75 32 (b) (iii) 25,114 25,114 25,114 29,855 29,855 29, ,114 25,114 25,114 30,452 30,452 30, , , , , , ,399 (c) 74

76 32 (d) 7 152, ,070 5,960 5, ,070 5, , , ,609 4,047 4, ,609 4, ,656 75

77 33 (a) 1, , , (b) 2,287 8, ,378 2,391 9, ,084 4,763 17,191 14,520 19,275 19,283 76

78 34 Active Dynamic Limited Kingston Capital Asia Limited12,000,000,000 (i) 2,000,000,000 (ii) 1,000,000,000 (iii) 4,800,000, (iv) 4,200,000, ,000, (a) ,217 15, , ,604 16,

79 35 (b) , ,000 1, (1) (2) (3) 2.5% 0.25% (4) (5) 36 3,272,727 78

80 37 (i) 34 Kingston Capital Asia Limited (ii) ,750,000, ,250,000, ,000,00015,000,000, ,000,00024,750,000, ,250,000, Golden Resorts Group LimitedKingston Financial Group Limited

81

Conyers Dill & Pearman Clarendon House 2 Church Street Hamilton HM11 Bermuda MUFG Fund Services (Bermuda) Limited 26 Burnaby S

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