年報 2016 年報 2016
700 20 340
2 4 6 8 10 41 49 60 73 79 F-1 F-8 F-9 F-10 F-11 F-12 F-14 F-96
16,842 12,510 12,730 11,456 9,344 1,238 1,090 968 893 839 580 530 515 512 523 1,250 820 1,005 1,002 818 13,292 13,155 13,208 12,672 11,793 50,400 40,056 42,484 43,429 37,275 0.68 0.48 0.58 0.58 0.46 1.69 1.11 1.37 1.36 1.10 66 73 74 49 49 68% 25% 10% 51% 27% 7% 12% 2
2016 1,238 16,842 18,080 2015 1,090 12,510 13,600 2014 968 12,730 13,698 2013 893 11,456 12,349 2012 839 9,344 10,183 2016 18,683 2015 11,649 2014 10,411 2013 12,280 2012 9,563 2016 3,245 2016 1,250 2015 1,982 2015 820 2014 2,501 2013 2,521 2014 1,005 2013 1,002 2012 2,318 2012 818 2016 1.69 2016 0.68 2015 1.11 2015 0.48 2014 1.37 2013 1.36 2012 1.10 2014 0.58 2013 0.58 2012 0.46 3
12.5052%0.55 0.13 0.68 0.48 186.83 23.76210.59 52% 270 34,000 I ip2 Entertainment 4
5.80 5
186.83 23.76210.59 52% 15.18 1.44 3.30 13.74 5.45 66% 1.69 186.83 60%25%13,700 1,204,000 142.79 266 34,000 I54,00030 6
230 8,000 23.76 9% 31% 54.79.5 4.5 15 3 7.95 1.86 7
主要獎項 路勁基建有限公司 2016 中國房地產上市公司綜合實力 25 強 路勁地產集團有限公司 2016 中國房地產開發企業 30 強 2016 中國房地產開發企業外資企業 10 強第一名 2016 全國五一品牌建設獎管理示範企業 路勁物業服務集團有限公司 2016 中國物業服務百強企業 33 強 8 路勁基建有限公司
I 9
管理層討論及分析 房地產項目 長 長三角地區 渤 渤海灣地區 其 其他主要地區 渤海灣地區 15 北京巿 河北省 16-17 18, 31 天津巿 廊坊市 19-21 濟南巿 山東省 27, 32-33 6-7 8-11, 25 江蘇省 22-23 鄭州巿 12 鎮江巿 常州巿 洛陽巿 河南省 無錫巿 13-14, 26, 29 1-5, 28 蘇州巿 上海巿 30 浙江省 湖南省 34 長三角地區 永州市 廣東省 24 35-36 廣州巿 香港特別行政區 10 路勁基建有限公司 寧波市
P1 62,000 S/C 136,000 55% 2017 P2 39,000 S/C 133,000 55% 2017 589 P3 84,000 S/C 72,000 90% 2017 P4 80,000 M 42,000 75% 2019 P5 52,000 F 37,000 60% 2017 P6 115,000 S/C 98,000 100% 2018 11
P7 495,000 P/F 257,000 100% 2020 P8 512,000 P/F/S/C 280,000 100% 2020 P9 130,000 S/C 95,000 100% 2017 P10 217,000 P/F 89,000 100% 2020 P11 230,000 P/F/S/C 110,000 100% 2019 P12 145,000 F/S/C 88,000 100% 2019 12
P13 255,000 P/F/S/C 843,000 100% 2019 P14 60,000 P/F 58,000 58.82% 2017 P15 80,000 F/C 108,000 100% 2019 P16 448,000 P/F/S/C 811,000 94.74% 2020 P17 266,000 P 125,000 50% 2020 P18 512,000 P/F/S/C 495,000 100% 2020 13
P19 II 125,000 F 34,000 100% 2018 P20 III 101,000 M 17,000 100% 2020 P21 129,000 M 53,000 100% 2019 P22 302,000 P/F/S/C 147,000 100% 2020 P23 53,000 P/F 54,000 100% 2019 P24 224,000 P/F 90,000 51% 2019 14
P25 120,000 C 67,000 100% 33 P13 22,000 C 17,000 100% P26 37,000 C 24,000 100% 180 P16 18,000 C 9,000 94.74% P27 25,000 C 9,000 94.74% 15
P28 BC 177,000 M 122,000 60% 2020 P29 190,000 M 95,000 51% 2020 P30 98,000 P/F/S 27,000 100% 2019 32 P31 110,000 S/C 200,000 45% 2017 P32 465,000 P/F 162,000 60% 2020 16
P33 B 878,000 P 314,000 60% 2024 P34 102,000 F 196,000 48.45% 2018 P35 34,000 P 28,000 100% 2020 103 1066 P36 54,000 M 11,000 50% 2022 467 A M P F S C 17
管理層討論及分析 收費公路項目 高速公路 河北省 1 2 4 山西省 安徽省 5 3 湖南省 18 路勁基建有限公司
T1 105 40% G18 ~ T2 58 45% G25 ~ T3 69 43.17% G5513 ~ T4 72 45% S60 ~ T5 36 49% S24 ~ 19
186.83 23.76210.59 52% 15.18 1.44 3.30 13.74 5.45 66% 1.69 186.83 176.13 10.70 10,102 737,000 9,682 692,000 7,494 489,000 3,620 402,000 1,087 133,000 977 110,000 18,683 1,359,000 14,279 1,204,000 11,649 1,055,000 10,374 1,006,000 186.8360% 13,700 25% 20
16,842 12,510 4,222 2,883 (1,035) (813) 1,132 823 1,204,000 11,900 12.55 1.23 11.32 270 60% 159,000 229,000 5,050 51%-100% 177,000 287,000 4,484 100% 27,000 98,000 554 50% 125,000 266,000 2,060 45% 200,000 110,000 400 100% 51,000 226,000 496 60% 476,000 1,343,000 1,045 48.45% 196,000 102,000 95 100% 28,000 34,000 868 21
I54,000 30 700 6 494,000 12 2,528,000 1 98,000 1 80,000 2 732,000 2 622,000 3 355,000 5 1,723,000 1 102,000 1 224,000 1 34,000 1,977,000 1,289,000 2,437,000 1,310,000 22
136,000 130,000 6.6330,300 3.0315,000 30,10018,400 133,000 133,000 8.90 22,800 13.8666,000 18,0005,100 61,000 129,000 1.36 23,100 8.58 45,000 72,000 135,000 1624,700 11.93 52,000 54,70013,000 23
37,000 56,000 280,000 705,000 13.017,600 4.8354,000 128,800113,500 95,000 232,000 4.83 2.5342,00083,20043,200 89,000 217,000 110,000 264,000 3.6410,000 3.40 34,400 11,3001,200 24
487,000 842,000 14,000 1.045.02 81,400 16,0005,300 88,000 200,000 3.2912,800 3.2427,000 21,900 3,500 26,000 94,000 7.44 11,000 8.4882,000 9,800 860,0001,560,000 788 100,000 10,000, 17.20 27,100, 17.93117,00040,500 39,000 25
46,000 85,000 8.8921,400 11.2857,000 29,600 2,600 58,00061,000 SOHO 3.16 24,000 0.84 3,400 820,000 1,153,000 30,000 8,000 30.7021,600 109,800 20,000 92% 125,000 276,000 26
495,000723,000 35,300 1,000 30.41 14,100 21.68206,000 65,7003,100 42,000156,000 3,200 4.73 9,300 10.72145,500 4,900500 34,000 127,000 17,000 102,000 27
147,000 392,000 3.032.40 41,00081,10027,100 54,00054,000 107,000271,000 3.64 11,400 5.7154,000 13,0001,800 9 90,000225,000 67,000 131,00026,000 105,000 28
BC 122,000 203,000 95,000 190,000 27,000 98,000 200,000 84,00071,00039,000 B 878,000 314,000 28,000 34,000 13 I 11,000 54,000 30 29
6.7% 6.3% 5.80 2.50 3.83 % 1,013 849 19 23 19 21 293 305 (4) 14 12 17 30
% % 56,000 6 688 8 46,000 4 530 (4) 65,000 9 649 11 17,000 31 274 37 18,000 37 190 24 202,000 10 2,331 10 17,000 (6) 45 (2) 219,000 9 2,376 9 8,00023.76 97% 98% 31
6% 8% G112 4%4% 9%11% 32
31% 37% 37% 24% 33
16,842 12,510 4,222 2,883 132 (42) (1,131) (887) 394 261 (372) (233) 3,245 1,982 (1,871) (1,154) 1,374 828 (124) (8) 1,250 820 1.86 34
9.53.5 6,549 6,705 2,468 2,193 335 90 9,352 8,988 27,386 25,728 8,215 3,314 2,036 179 3,411 1,847 41,048 31,068 (6,784) (5,496) (718) (280) (8,747) (4,548) (5,847) (6,224) (1,614) (1,539) (23,710) (18,087) (12,457) (7,993) 14,233 13,976 35
16 222,000 690,000 5,847 6,224 1,515 5,954 9,935 940 280 332 17,577 13,450 36
33% 46% 61% 73% 67% 54% 39% 27% 100% 100% 100% 100% 4% 1% 42% 60% 42% 47% 58% 40% 54% 52% 100% 100% 100% 100% (a) (b) (c) 4.5 5 15 4.5 5 4.7 3 7.95 123% 66% 10.85 10.93 37
(4,498) (2,568) 8,716 4,098 (907) 909 1,504 (2,549) (175) (90) 2,651 2,851 7,291 2,651 9.5 15 38
132.92 131.55 17.96 17.78 504.00400.56 80.4930.72 83% 17% 1.66 2.42 50.99 34.46 1.86 66.40 46.50 7.73 8.45 39
2,982 6.585.78 40
69 64 61 54 610 610240 40 27 30 41
54 54 44 331 659 1231 610 Richard Ivey School of Business 604 604 SZ000014 42
69 75 SZ000813 40 OBE 25 51240 404 43
66 67 49 0020 35 Kleinwort Benson Advent International Corporation 13 New York Stock Exchange (NYSE National Association of Securities Dealers Automatic Quotation (NASDAQ)) 44
58 61 45 42 35 37 23 21 45
44 42 54 55 21 30 500 30 32 46
63 47 49 51 37 14 17 25 12 1520 25 47
46 44 41 49 17 20 18 17 7 48
44 18 17 F-8F-9 0.13 0.96 0.55 4.07 183 22 183 22 23456710 40 60 72 F-8 F-95 F-96 49
25 26 F-11 (i) (ii) 1,991,234,000 15 16 RKI Overseas Finance 2016 (A) Limited4.55 RKI Overseas Finance 2016 (B) Limited54.7 154.5 50
RKP Overseas Finance 2016 (A) Limited37.95 27 34 F-96 30% 51
87 8.10 52
XV 352 (I) % 4 1 14,497,000 1.96 2 1,500,000 0.20 1 & 3 2,100,000 0.28 1 100,000 0.01 2 1,200,000 0.16 1 100,000 0.01 2 50,000 0.01 1 455,000 0.06 2 150,000 0.02 2 150,000 0.02 2 100,000 0.01 1. 2. (II 3. 960,000 4. 739,936,566 53
(II) 26 1 1,500,000 1,500,000 1&2 1,400,000 1,400,000 1 1,200,000 1,200,000 1&3 800,000 800,000 1 50,000 50,000 1 150,000 150,000 1 150,000 150,000 1 100,000 100,000 5,350,000 5,350,000 1 5,050,000 (200,000) 4,850,000 5,050,000 (200,000) 4,850,000 10,400,000 (200,000) 10,200,000 1. 7.13 2. 3. 54
XV 352 18 336 % 1 11 2 306,034,428 41.36 Wai Kee (Zens) Holding Limited 306,034,428 41.36 3 4 65,918,000 8.91 Wai Kee China Investments (BVI) 237,116,428 32.05 Company Limited4 5 237,116,428 32.05 ZWP Investments Limited 6 237,116,428 32.05 7 202,334,142 27.34 8 202,334,142 27.34 9 202,334,142 27.34 Hover Limited10 202,334,142 27.34 55
1. 2. (i) Wai Kee (Zens) Holding LimitedWai Kee China Investments (BVI) Company LimitedZWP Investments Limited Top Horizon Holdings Limited)(ii) Top Tactic Holdings Limited Amazing Reward Group Limited 3,000,000 3. Wai Kee (Zens) Holding Limited Wai Kee (Zens) Holding Limited 4. Wai Kee China Investments (BVI) Company Limited Wai Kee (Zens) Holding Limited Wai Kee China Investments (BVI) Company Limited 5. Wai Kee China Investments (BVI) Company Limited 6. ZWP Investments Limited ZWP Investments Limited 7. 100% 8. 61.11% 9. Hover Limited 10. Hover Limited 11. 739,936,566 336 56
Road King Infrastructure Finance (2012) Limited 9.875 3.52017 2017 102.46875% RKI Finance (2013) Limited6 22 20162016 100% 2017 2016 1,313,000 26 57
1. 13.18 4.55 54.7 4.55 5 4.7 101% 3 7.95 101% RKP Overseas Finance 2014 (A) LimitedRKP Overseas Finance 2 2 2 RKP Overseas Finance 30% RKP Finance (2012) LimitedRKP Finance 3 3 3 RKP Finance 30% RKI Finance (2012) LimitedRKI Finance 5 5 5 RKI Finance 30% 58
2. 13.51B(1) 13.51B(1) 6,837,000 7,042,200 7,042,200 4,324,200 4,454,400 4,454,400 5,843,400 6,019,200 6,019,200 3,408,000 3,600,000 3,600,000 59
3.10(1) 3.10(2)3.10A 60
A.4.1 3.13 61
5/5 2/2 5/5 1/1 5/5 1/1 5/5 1/1 5/5 1/1 3/3 1/1 3/3 1/1 5/5 3/3 1/1 1/5 0/1 4/5 0/1 5/5 3/3 2/2 4/5 1/1 4/5 3/3 2/2 5/5 1/1 5/5 5/5 1/1 5/5 2/3 2/2 1/1 5/5 1/1-62
14 63
64 A B C B C B C B C B C B C B C B C B C B C B C B C A B C
65
66
67
11 2,000,000 3 2,000,0013,000,000 5 3,000,0014,000,000 3 4,000,001 5,000,000 2 5,000,001 6,000,000 2 6,000,001 7,000,000 1 68
3,980,000 1,200,000 5,384,000 10,564,000 F-1 F-7 69
Committee of Sponsoring Organizations of the Treadway Commission COSO2013 COSO COSO 2013 70
100 71
21 ( C F40) 72
A. A1 A2 A3 B. B1 B2 B3 B4 B5 B6 B7 B8 73
A) A1 30 7,000,000 A2 74
A3 B) B1 75
B2 B3 B4 15 76
B5 B6 B7 77
B8 21 21 78
Conyers, Dill & Pearman MUFG Fund Services (Bermuda) Limited The Belvedere Building 69 Pitts Bay Road Pembroke HM08 Bermuda 79
183 22 Clarendon House 2 Church Street Hamilton HM 11 Bermuda 9 6 5 501 1098 4.55 5695 54.7 4309 3 7.95 154.5 (852) 2957 6800 (852) 2375 2477 rki@roadking.com.hk http://www.roadking.com.hk http://www.rkph.com 80
F-8F-95 F-1
164.51 5 98%3 F-2
F-3 208.26 54.58 21 4 10 2.56 4
3.97 32 32 F-4
90 F-5
F-6
F-7
5 16,841,585 12,509,646 (12,619,518) (9,626,650) 4,222,067 2,882,996 150,114 86,557 48,200 43,708 7 (66,268) (171,987) (520,553) (367,459) (610,547) (518,964) (1,689) 8 395,553 261,018 9 (371,585) (233,346) 10 3,245,292 1,982,523 12 (1,871,696) (1,154,213) 1,373,596 828,310 1,250,075 820,005 123,521 8,305 1,373,596 828,310 14 1.69 1.11 1.69 1.11 F-8
1,373,596 828,310 (821,133) (547,096) 552,463 281,214 491,604 305,405 60,859 (24,191) 552,463 281,214 F-9
15 42,531 33,503 16 2,468,194 2,193,098 17 799,192 18 4,564,980 5,108,141 29 29,968 56,229 19 1,185,114 1,596,933 20 261,959 9,351,938 8,987,904 21 26,283,708 25,247,436 22 1,102,355 480,201 19 2,035,678 179,366 20 200,634 23 2,231,787 1,455,019 582,387 392,726 32 396,918 24 165,909 241,932 24 8,048,817 3,071,723 41,048,193 31,068,403 50,400,131 40,056,307 25 73,994 73,994 13,217,837 13,081,403 13,291,831 13,155,397 940,797 820,470 14,232,628 13,975,867 27 11,729,547 7,226,144 28 77,904 180,000 29 649,305 586,532 12,456,756 7,992,676 30 6,784,521 5,495,510 31 717,659 280,488 8,747,284 4,548,201 1,409,744 895,891 27 5,847,427 6,224,230 28 204,112 374,741 32 268,703 23,710,747 18,087,764 50,400,131 40,056,307 F-8 F-95 F-10
a b 72,970 3,072,836 2,207,451 1,260,000 24,472 911,129 5,659,033 13,207,891 844,661 14,052,552 820,005 820,005 8,305 828,310 (514,600) (514,600) (32,496) (547,096) (514,600) 820,005 305,405 (24,191) 281,214 72,970 3,072,836 1,692,851 1,260,000 24,472 911,129 6,479,038 13,513,296 820,470 14,333,766 1,024 80,150 (9,910) 71,264 71,264 (8,226) 8,226 (25,047) 25,047 (429,163) (429,163) (429,163) 328,385 (328,385) 73,994 3,152,986 1,667,804 1,260,000 6,336 1,239,514 5,754,763 13,155,397 820,470 13,975,867 1,250,075 1,250,075 123,521 1,373,596 (758,471) (758,471) (62,662) (821,133) (758,471) 1,250,075 491,604 60,859 552,463 73,994 3,152,986 909,333 1,260,000 6,336 1,239,514 7,004,838 13,647,001 881,329 14,528,330 37 59,468 59,468 (122) 122 (355,170) (355,170) (355,170) 289,121 (289,121) 73,994 3,152,986 909,333 1,260,000 6,214 1,528,635 6,360,669 13,291,831 940,797 14,232,628 (a) (b) F-11
3,245,292 1,982,523 14,305 12,596 (62,735) (77,617) (92,936) (429,357) 128,273 (150,114) (86,557) 371,585 233,346 (2,145) (395,553) (261,018) 1,689 (397) (206) 2,579,833 1,851,141 (1,070,347) (70,849) 1,162,438 (131,236) 4,859,240 4,600,675 191,161 (131,360) 2,199,834 (880,300) (2,343,475) (542,049) 7,578,684 4,696,022 (1,205,461) (1,139,281) 6,373,223 3,556,741 F-12
534,392 473,259 (286,303) (70,615) (117,646) 88,976 70,183 158,630 53,539 487 585 11,231 152,787 70,281 32,341 37 (53,063) (384,966) 13,489 (14,723) (7,828) (218,514) 26,746 (2,884,427) (1,256,575) 876,680 93,513 (365,396) 424,675 (420,751) (1,024,040) (156,428) (3,062,238) (1,117,243) 14,976,250 3,282,119 (11,707,248) (4,027,648) (329,035) (125,762) 71,264 (355,170) (429,163) (1,081,168) (1,320,018) 1,503,629 (2,549,208) 4,814,614 (109,710) 2,651,312 2,851,433 (175,144) (90,411) 33 7,290,782 2,651,312 F-13
1. Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda96 5 501 44 17 18 2. 11 1 16 38 16 41 27 10 12 28 F-14
2. 9 1 15 1 16 3 2 1 4 9 4 1 10 2 28 15 15 1 7 4 12 4 1 2 3 4 9 9 9 9 9 F-15
2. 9 39 9 9 15 15 15 18 11 15 15 15 15 15 15 15 F-16
2. 16 16 17 12 16 17 16 17 38 35,302,000 16 3. F-17
3. 217 236 F-18
3. (i) (ii) 39 F-19
3. F-20
3. F-21
3. 39 36 36 F-22
3. F-23
3. F-24
3. F-25
3. 12 F-26
3. F-27
3. F-28
3. (i) 37 (ii) F-29
3. 4. 3 F-30
4. 3,341,836,000 3,628,714,000 3,341,836,000 3,628,714,000 20,826,040,000 18,789,743,000 5,457,668,000 6,457,693,000 F-31
4., 36(c) 16 5. 16,450,805 12,205,731 77,373 66,911 313,407 237,004 16,841,585 12,509,646 1,238,543 1,090,009 18,080,128 13,599,655 6. F-32
6. 16,841,585 16,841,585 12,509,646 12,509,646 1,132,118 333,122 1,465,240 822,582 211,696 1,034,278 40,076,979 3,563,906 43,640,885 33,245,218 4,094,399 37,339,617 (34,440,653) (47,033) (34,487,686) (24,431,923) (32,175) (24,464,098) (a) 3 F-33
6. (a) (b) 1,465,240 1,034,278 4,498 585 71,703 5,577 (110,080) (183,301) (57,765) (24,988) (320) (3,521) 1,373,596 828,310 43,640,885 37,339,617 79 322 4,528 2,361 207,602 66,286 6,690,520 2,504,238 50,400,131 40,056,307 (34,487,686) (24,464,098) (135,059) (109,972) (1,544,758) (1,237,667) (268,703) (36,167,503) (26,080,440) F-34
6. (c) 134,928 10,688 4,498 150,114 71,015 14,957 585 86,557 2,145 2,145 62,735 62,735 77,617 77,617 92,936 92,936 (13,855) (249) (201) (14,305) (11,648) (289) (659) (12,596) (310,736) (3,084) (57,765) (371,585) (204,966) (3,392) (24,988) (233,346) (1,846,170) (25,526) (1,871,696) (1,125,589) (28,304) (320) (1,154,213) (1,689) (1,689) (13,117) 408,670 395,553 (13,401) 277,940 (3,521) 261,018 799,192 799,192 1,223,144 3,341,836 4,564,980 1,474,899 3,628,714 4,528 5,108,141 1,973,471 165,743 2,139,214 1,188,206 53 37 1,188,296 (d) (e) 90% (f) 10% F-35
7. (573,639) (201,736) 429,357 (128,273) (144,282) (330,009) 2,145 397 206 62,735 77,617 92,936 (66,268) (171,987) 8. 408,670 277,940 (13,117) (16,922) 395,553 261,018 9. 1,136,178 1,291,873 77,552 97,261 124,149 1,310,991 1,416,022 (939,406) (1,182,676) 371,585 233,346 7.23%7.68% F-36
10. 15,004 13,992 (699) (1,396) 14,305 12,596 256,385 237,094 19,161 18,599 587,397 503,697 287,000 47,000 70,797 74,159 (136,223) (135,313) 521,971 442,543 3,980 3,980 12,327,100 9,440,691 35,564 28,855 F-37
11. 6,837 16,519 684 24,040 4,324 2,993 18 7,335 (a) 7,270 13,376 584 21,230 (b) 1,569 1,778 157 3,504 3,408 4,513 341 8,262 (c) 1,300 80 1,380 419 419 309 309 309 309 549 549 539 539 369 369 459 459 309 309 3,262 24,708 39,179 1,864 69,013 F-38
11. 6,756 7,494 676 14,926 (a) 7,296 6,068 577 13,941 4,273 237 18 4,528 4,062 2,124 406 6,592 3,367 1,820 337 5,524 2,059 700 154 2,913 380 380 (d) 16 16 (d) 16 16 (e) 256 256 (e) 256 256 510 510 500 500 308 308 365 365 (f) 244 244 2,851 27,813 18,443 2,168 51,275 (a) (b) (c) (d) (e) (f) F-39
11. 4,111,000 4,682,000 411,000 12. 859,766 678,074 791,185 382,124 63,820 127,485 1,714,771 1,187,683 29 156,925 (33,470) 1,871,696 1,154,213 25% 30% 60% F-40
12. 3,245,292 1,982,523 25%25% 811,323 495,631 791,185 382,124 (197,796) (95,531) 364,021 358,018 (2,171) (14,035) (98,888) (65,255) 422 27,411 10,764 (9,394) (19,922) 99,738 (14,290) 63,820 127,485 708 21,317 (10,776) 1,871,696 1,154,213 13. 0.35 0.45 258,978 332,971 0.13 0.13 96,192 96,192 355,170 429,163 0.55 4.07 740,186,566 F-41
14. 1,250,075 820,005 739,937 736,706 123 739,937 736,829 F-42
15. 847 29,806 46,290 36,306 113,249 941 5,569 1,318 7,828 (2,264) (1,652) (3,916) (27) (1,021) (1,796) (1,368) (4,212) 820 29,726 47,799 34,604 112,949 9,198 4,193 1,332 14,723 655 9,346 10,001 (2,164) (1,082) (3,246) (54) (1,904) (2,979) (2,156) (7,093) 766 37,020 47,504 42,044 127,334 847 20,413 32,003 18,772 72,035 1,116 6,618 6,258 13,992 (1,990) (1,547) (3,537) (27) (685) (1,432) (900) (3,044) 820 20,844 35,199 22,583 79,446 2,688 5,975 6,341 15,004 (2,145) (1,011) (3,156) (54) (1,755) (2,852) (1,830) (6,491) 766 21,777 36,177 26,083 84,803 15,243 11,327 15,961 42,531 8,882 12,600 12,021 33,503 20 25 3 10% 25% 12.5% 25% F-43
16. 2,193,098 2,243,909 70,615 286,303 291 38,239 (11,231) (152,787) 62,735 77,617 92,936 (148,499) (91,934) 2,468,194 2,193,098 76,464 149,310 F-44
16., 2,162,299 2,162,984 1. 5%-6.5% 5%-6.5% 2. 6%-7% 6%-7% 3. 69 173 93 167 305,895 30,114 2,468,194 2,193,098 F-45
16. 2,162,984 2,063,322 71 36,280 70,615 (1,214) (1,319) 62,735 76,291 86,677 (146,448) (84,711) 2,162,299 2,162,984 17. 804,553 (1,689) (3,672) 799,192 60% 60% 88,235,00029,411,000 60% 686,907,000 60% F-46
17. 1,897,520 34 (1,063,307) 834,247 60% 500,548 298,644 799,192 18. 4,782,431 4,950,224 a (3,154,530) (3,263,799) 1,118,207 1,059,404 595,728 882,885 3,341,836 3,628,714 1,223,457 1,514,189 47,035 42,210 (47,348) (76,972) 1,223,144 1,479,427 4,564,980 5,108,141 F-47
18. (a) (b) 68,000,000 77,448,000 50% 7,167,000 70,281,000 (c) 28,640,000 35,934,000 70% 2,145,000 * 96,287,600 40% * 95,700,000 40% * 96,007,600 40% * 97,262,000 40% F-48
18. * 96,843,600 40% * 97,359,600 40% * 90,030,400 40% * 96,507,600 40% * 96,575,200 40% * 97,426,400 40% ** 287,324,000 45% ** 250,300,000 45% F-49
18. ** 172,524,000 45% *** 97,011,500 43.17% *** 98,985,400 43.17% *** 98,553,500 43.17% *** 101,695,200 43.17% *** 98,458,100 43.17% *** 78,328,300 43.17% F-50
18. 1,467,000,000 45% 575,000,000 49% * ** *** 40% 50%/ 30% 45% F-51
18. 105,725 115,059 39,452 10,156 133,931 404,323 2,082,220 1,075,102 1,192,286 4,777,834 2,816,204 11,943,646 2,187,945 1,190,161 1,231,738 4,787,990 2,950,135 12,347,969 a 45,558 45,558 240,923 359,971 109,215 161,587 65,761 937,457 14,241 16,905 48,129 46,093 1,701 127,069 255,164 376,876 202,902 207,680 67,462 1,110,084 46,332 176,538 222,870 46,332 45,558 18,793 110,683 101,507 100,776 77,904 184,873 76,639 541,699 101,507 100,776 170,568 406,969 95,432 875,252 92,631 92,631 92,631 3,097,950 1,889,521 5,080,102 260,464 35,138 147,773 105,624 548,999 260,464 35,138 333,035 3,203,574 1,889,521 5,721,732 b 2,081,138 1,431,123 931,037 1,385,127 1,032,644 6,861,069 40% 45% 43.17% 45% 49% 832,455 644,005 401,929 623,307 505,995 3,007,691 23(b) 164,428 164,428 c 49,889 (10,353) 12,535 52,071 882,344 633,652 414,464 623,307 670,423 3,224,190 F-52
18. 794,770 612,174 749,776 316,630 220,233 2,693,583 17,868 28,629 13,083 59,580 812,638 612,174 749,776 345,259 233,316 2,753,163 (17,868) (28,629) (13,083) (59,580) 6,264 2,559 3,363 1,265 1,324 14,775 (104,325) (80,183) (88,762) (52,677) (18,269) (344,216) (27,039) (32,066) (29,992) (11,710) (9,353) (110,160) (143,481) (181,796) (191,797) (59,786) (52,206) (629,066) (17,470) (166,204) (104,866) (288,540) (127,420) (81,496) (107,819) (5,768) (322,503) 398,769 239,192 317,299 21,750 36,863 1,013,873 (174,146) (121,810) (83,963) (97,887) (72,276) (550,082) 224,623 117,382 233,336 (76,137) (35,413) 463,791 (a) 2,127,345 1,478,247 2,271,858 207,680 67,462 6,152,592 (1,872,181) (1,101,371) (2,068,956) (5,042,508) 255,164 376,876 202,902 207,680 67,462 1,110,084 (b) 3,953,319 2,532,494 2,999,993 1,385,127 1,032,644 11,903,577 (1,872,181) (1,101,371) (2,068,956) (5,042,508) 2,081,138 1,431,123 931,037 1,385,127 1,032,644 6,861,069 (c) F-53
18. 134,033 145,725 43,544 11,400 162,130 496,832 2,331,878 1,304,765 1,467,304 5,145,119 3,036,306 13,285,372 2,465,911 1,450,490 1,510,848 5,156,519 3,198,436 13,782,204 a 48,780 48,780 247,414 296,002 82,208 130,584 48,366 804,574 15,640 86,787 49,845 46,124 11,713 210,109 263,054 382,789 180,833 176,708 60,079 1,063,463 49,610 189,024 238,634 49,610 24,390 16,220 90,220 102,954 121,282 76,995 185,488 100,458 587,177 102,954 121,282 176,215 398,902 116,678 916,031 148,793 148,793 148,792 3,365,854 2,073,780 5,588,426 266,549 36,098 166,872 107,207 576,726 266,549 36,098 464,457 3,473,061 2,073,780 6,313,945 b 2,359,462 1,675,899 1,051,009 1,461,264 1,068,057 7,615,691 40% 45% 43.17% 45% 49% 943,785 754,155 453,720 657,569 523,348 3,332,577 c 52,906 (37,606) 4,609 19,909 996,691 716,549 458,329 657,569 523,348 3,352,486 F-54
18. 772,250 668,414 709,610 242,024 186,899 2,579,197 47,407 98,372 49,854 30,110 225,743 819,657 766,786 709,610 291,878 217,009 2,804,940 (47,407) (98,372) (49,854) (30,110) (225,743) 5,972 4,313 4,340 3,555 4,574 22,754 (131,679) (86,832) (99,061) (48,585) (10,150) (376,307) (27,527) (31,990) (31,222) (10,628) (8,336) (109,703) (141,976) (149,248) (204,331) (45,757) (34,669) (575,981) (27,608) (218,356) (128,821) (374,785) (121,556) (101,769) (88,575) (29,923) (341,823) 355,484 302,888 263,153 (107,670) 9,497 823,352 (106,229) (78,540) (52,147) (61,688) (43,266) (341,870) 249,255 224,348 211,006 (169,358) (33,769) 481,482 (a) 2,027,312 1,435,126 2,383,887 176,708 60,079 6,083,112 (1,764,258) (1,052,337) (2,203,054) (5,019,649) 263,054 382,789 180,833 176,708 60,079 1,063,463 (b) 4,123,720 2,728,236 3,254,063 1,461,264 1,068,057 12,635,340 (1,764,258) (1,052,337) (2,203,054) (5,019,649) 2,359,462 1,675,899 1,051,009 1,461,264 1,068,057 7,615,691 (c) (d) F-55
18. 162,505 146,355 41,474 12,389 177,751 540,474 2,492,403 1,379,630 1,726,822 5,351,411 3,152,677 14,102,943 2,654,908 1,525,985 1,768,296 5,363,800 3,330,428 14,643,417 a 162,761 120,186 131,360 354,800 21,270 790,377 154,862 154,862 21,957 99,732 65,241 14,247 22,036 223,213 184,718 374,780 196,601 369,047 43,306 1,168,452 51,624 196,701 38,071 286,396 51,624 177,665 126,904 356,193 94,222 72,958 85,932 284,492 216,058 753,662 94,222 72,958 189,180 658,858 381,033 1,396,251 206,460 1,890,875 2,097,335 206,460 3,362,944 3,569,404 263,073 34,783 180,148 80,423 558,427 263,073 34,783 593,068 3,443,367 1,890,875 6,225,166 b 2,482,331 1,793,024 1,182,649 1,630,622 1,101,826 8,190,452 40% 45% 43.17% 45% 49% 992,932 806,861 510,550 733,780 539,895 3,584,018 c 54,523 (28,969) 930 26,484 1,047,455 777,892 511,480 733,780 539,895 3,610,502 F-56
18. d 706,207 598,413 652,852 207,386 89,710 2,254,568 52,753 184,262 241,637 205,040 683,692 758,960 782,675 652,852 449,023 294,750 2,938,260 (52,753) (184,262) (241,637) (205,040) (683,692) 5,259 501 4,420 6,246 1,263 17,689 (106,403) (70,630) (85,857) (29,734) (3,898) (296,522) (31,625) (32,694) (26,401) (13,711) (3,639) (108,070) (126,586) (129,213) (188,901) (45,362) (18,114) (508,176) (40,075) (239,294) (89,503) (368,872) (110,503) (94,881) (83,720) (31,197) (320,301) 336,349 271,496 232,318 (145,666) (24,181) 670,316 9,645 5,971 4,581 2,788 1,490 24,475 345,994 277,467 236,899 (142,878) (22,691) 694,791 (a) 1,893,951 1,365,091 2,134,362 369,047 43,306 5,805,757 (1,709,233) (990,311) (1,937,761) (4,637,305) 184,718 374,780 196,601 369,047 43,306 1,168,452 (b) 4,191,564 2,783,335 3,120,410 1,630,622 1,101,826 12,827,757 (1,709,233) (990,311) (1,937,761) (4,637,305) 2,482,331 1,793,024 1,182,649 1,630,622 1,101,826 8,190,452 (c) (d) (e) F-57
18. 100% 40% 100% 40% a 100% 49% 100% 49% b 60% 60% e 60% 60% e 50% 66.67% e 45% 40% c 51% 51% 66.67% 51% e 58.82% 66.67% e Both Win Development Limited 60% 60% Both Win d F-58
18. : (a) 14 5.68.4 145.6 40%100% 40% (b) 37 51% 51% (c) 2.624.6 117,000,000134,725,000 45% 0.9 102,506,000 (d) Both Win 389,587,000 Both Win 60% 30,000,000 359,587,000 Both Win 60% 40%Both Win (e) 50% F-59
18. * * * Both Win* 1,091,438 4,859,155 2,452,865 846,258 2,910,986 1,108,695 659,510 13,928,907 907 12 809,162 4,732 49 814,862 (240,815) (1,430,957) (2,396,968) (615,188) (2,358,097) (403,139) (127,548) (7,572,712) (784,169) (3,359,909) (747,265) (609,339) (466,970) (5,967,652) 68,718 18,608 6,474 227,130 29,070 36,455 247,890 634,345 67,361 68,301 55,897 292,967 557,621 96,217 65,041 1,203,405 60% 60% 50% 45% 51% 58.82% 60% 40,417 40,981 27,949 131,835 284,387 56,595 39,024 621,188 350,563 350,563 40,417 40,981 27,949 131,835 284,387 56,595 389,587 971,751 F-60
18. * * * Both Win* (1,023) (38) (1,101) (3,315) (11,520) (624) (17,621) 48 2 51 155 (19,973) 29 (19,688) (975) (36) (1,050) (3,160) (31,493) (595) (37,309) (24) (3) (36) (63) 101 73 154 138 134 122 722 (47) (47) 341 13 367 3,840 214 4,775 F-61
18. * 1,649,240 22,501 (865,510) 59,937 806,231 40% 322,492 351,206 673,698 * (23,737) 666 (23,071) (47) 607 (472) 7,912 * F-62
18. (51,071) (35,384) (61,781) (65,141) (112,852) (100,525) 19. (a) 138,963 198,403 (b) 79,727 85,366 (c) 499,908 (d) 149,123 44,390 (e) 56,168 948,232 (f) 170,843 (g) 772,434 (h) 289,863 (i) 889,066 (j) 385,649 (k) 58,237 (k) 6,771 (k) 189,210 (k) 11,731 (k) 23,007 3,220,792 1,776,299 (l) (2,035,678) (179,366) 1,185,114 1,596,933 F-63
19. : (a) 10%10% 92,631,000 148,793,000 46,332,000 49,610,000 (b) (c) 6.15 (d) 30,000,000 34,169,000 10 12 (e) 11 (f) 10 (g) 6.7757,631,000 14,803,000 (h) 7 164,009,000 125,854,000 (i) 7 (j) 6.02 (k) (l) 20. 442,092 20,501 462,593 (200,634) 261,959 F-64
20. 200,634 113,895 148,064 462,593 8.4-21 21. 5,457,668 6,457,693 20,826,040 18,789,743 26,283,708 25,247,436 15,264,035,00013,184,506,000 22. 1,102,355,000 480,201,000 F-65
23. a 60 146,517 2,157 61 90 1,014 992 90 6,532 7,547 154,063 10,696 b 176,555 c 515,438 180,805 d 452,107 280,487 327,629 187,896 782,550 618,580 2,231,787 1,455,019 : (a) 60 (b) 256,875,000 50% 60%65,570,0009,430,000 181,875,000 165,718,000 49% (c) 500,000,000 569,476,000 459,933,000 0.03 55,505,000180,805,000 (d) 91,116,000 36,585,000 F-66
23. 24. 165,909,000241,932,000 1,358,297,000 567,485,000 758,035,000 420,411,000 600,262,000 147,074,000 0.012.50.01 4.2 1,224,357 81,416 188,735 48,652 F-67
25. 0.1 20,000,000,000 20,000,000,000 2,000,000 2,000,000 0.1 7.5 518,380 518,380 52 52 739,936,566 729,696,566 73,994 72,970 10,240,000 1,024 739,936,566 739,936,566 73,994 73,994 26. 10%10% 10% 10% 30% F-68
26. 1% 1 (a)(b) (c) 10,200,000 10,400,000 1.4%1.4% 7.13 5,350,000 (2,200,000) 3,150,000 7.13 5,050,000 2,200,000 (200,000) 7,050,000 10,400,000 (200,000) 10,200,000 7.13 7.13 7.13 F-69
26. 6.79 6,600,000 (5,090,000) (1,510,000) 7.13 10,250,000 (4,900,000) 5,350,000 16,850,000 (9,990,000) (1,510,000) 5,350,000 6.79 4,755,000 (50,000) (4,705,000) 7.13 5,250,000 (200,000) 5,050,000 10,005,000 (250,000) (4,705,000) 5,050,000 26,855,000 (10,240,000) (6,215,000) 10,400,000 6.99 6.96 6.79 7.13 1,400,000 800,000 27. 2012 (a) 2,736,975 2013 (b) 2,674,197 2016 (c) 3,476,890 2016 (d) 3,858,575 2016 (e) 1,708,428 (f) 8,390,143 8,039,202 (g) 142,938 17,576,974 13,450,374 F-70
27. * 2,524,203 3,530,444 560,540 5,390,534 7,335,465 558,190 10,420,208 9,479,168 * 3,063,224 2,306,286 954,556 563,091 2,599,373 382,012 279,613 332,317 6,896,766 3,583,706 260,000 387,500 17,576,974 13,450,374 (5,847,427) (6,224,230) 11,729,547 7,226,144 * : (a) 2012 350,000,0009.875 (b) 20132,200,000,0002,200,000,000 6 F-71
27. : (c) 450,000,000 5 100% 105% 65% 101% (d) 500,000,000 4.7 100% 102.35%101.175% 104.7%65% 101% (e) 1,500,000,000 4.5 (f) 4,691,755,0003,583,707,000 4.28 7.48 5.467.26 1,043,850,000 5.46 10 2.27 4.733.5 4.73 (g) 142,938,000 6.239 4.97 106.37 10.282.52 7.48 5.12 7.26 F-72
27. 36(c)(ii) 9,193,369 6,893,799 753,500 195,412 28. 204,112,000374,741,000 5.22 5.75.7 7.38 77,904,000 180,000,000 5.75.7 6.9 29. (64,781) 15,588 154,898 292,980 186,975 585,660 (9,214) (14,290) (29,283) 19,317 (33,470) 2,672 (494) (7,126) (10,469) (6,470) (21,887) (71,323) 15,094 133,482 253,228 199,822 530,303 50,900 99,738 24,609 (18,322) 156,925 (26,011) (26,011) 2,369 (997) (13,657) (17,877) (11,718) (41,880) (44,065) 14,097 219,563 259,960 169,782 619,337 (i) (ii)(iii)(iv) (v) F-73
29. (29,968) (56,229) 649,305 586,532 619,337 530,303 387,868,000 424,834,000 176,260,000 285,292,000 211,608,000 139,542,000 203,283,000 139,542,000 3,371,298,000 4,414,634,000 F-74
30. 60 362,882 116,469 61 90 44,738 51,780 90 509,970 654,786 917,590 823,035 60 16,175 48,943 61 90 34,268 90 42,226 80,404 58,401 163,615 4,198,020 3,582,035 5,174,011 4,568,685 174,385 92,661 227,191 65,116 395,159 813,775 769,048 6,784,521 5,495,510 31. F-75
32. (1) (2) (3) 2 188,500,000 6.6550 7.0000 6 450,000,000 6.6400-6.6500 7.2000 6 500,000,000 6.6770-6.6915 7.2000 14 396,918,000 396,918,000 268,703,000 2,200,000,000 6 361,872,0004.816.07951 32,439,000 36(c)(i) F-76
33. 8,048,817 3,071,723 24 (758,035) (420,411) 7,290,782 2,651,312 34. 35. 27 28 F-77
36. (a) 13,754,322 6,329,873 396,918 25,361,170 19,781,113 268,703 (b) F-78
36. (b) (i) 32 1,301,956 81,416 9,321,178 6,973,070 217,264 51,705 789,256 239,883 5%5% 5% 5% 400,961 344,583 28,600 9,409 F-79
36. (b) (i) 50 50 26,447,00033,765,000 10,284,000 6,431,000 F-80
36. (b) (ii) 40 19 20 23 19 20 70% F-81
36. (b) (iii) F-82
36. (b) (iii) 6,784,521 6,784,521 6,784,521 717,659 717,659 717,659 4.97 340,978 806,475 978,239 9,889,517 12,015,209 10,230,681 5.02 1,195,759 4,300,048 1,098,978 971,722 345,795 7,912,302 7,346,293 5.68 8,013 211,207 79,482 298,702 282,016 7,413,621 7,413,621 16,460,551 5,317,730 2,156,699 10,861,239 345,795 35,142,014 25,361,170 5,495,510 5,495,510 5,495,510 280,488 280,488 280,488 7.95 217,247 2,901,662 2,984,824 6,103,733 5,411,172 5.59 1,563,331 2,490,448 3,335,728 1,058,887 422,689 8,871,083 8,039,202 6.79 39,579 366,759 183,873 590,211 554,741 5,495,511 5,495,511 13,091,666 5,758,869 6,504,425 1,058,887 422,689 26,836,536 19,781,113 (80,708) (2,763,194) (2,843,902) 68,573 2,872,705 2,941,278 (12,135) 109,511 97,376 268,703 F-83
36. (b) (iii) 4,075 262,060 266,135 260,000 9,000 396,461 405,461 387,500 (c) (i) 396,918,000 268,703,000 F-84
36. (c) (ii) 2012 2,736,975 2,861,688 2013 2,674,197 2,656,098 2016 3,476,890 3,517,107 2016 3,858,575 3,724,179 2016 1,708,428 1,683,858 F-85
37. (a) (b) (c) (d) (e) 115,000,000 130,979,000 83,768,000 95,407,000 31,232,00035,572,000 100% 8.4 60% 145.6 40% 100% 8,000,000 9,112,000 300,000,000 357,995,000 51% 140,660,000,000 59,100,000 81,560,000 F-86
37. 10,001 26,011 5,597,502 28,935 130,271 71,178 22,905 491,011 (977,875) (2,299,700) (1,124,874) (214,707) (97,393) 1,663,265 544,074 35,572 59,100 965,051 59,468 1,663,265 (544,074) 491,011 (53,063) F-87
38. 65,720 94,423 213,803 374,231 416,917 925,126 696,440 1,393,780 14,309,000 16,843,000 16,454 13,955 15,682 7,731 3,166 35,302 21,686 39. 174,373 F-88
40. 6,640,336,000 4,650,201,000 773,285,000 845,310,000 41. 24 5,099,271,000 3,446,268,000 42. 19 28 31 40 9,071 14,454 85,950 41,458 29,049 49,050 130,561 99,385 5,156 5,640 135,717 105,025 F-89
43. 13,004,389 14,065,380 25,479 491 1,319,579 94,657 1,345,058 95,148 14,349,447 14,160,528 25 73,994 73,994 5,831,585 6,607,323 5,905,579 6,681,317 387,500 82 453 8,443,786 7,091,258 8,443,868 7,479,211 14,349,447 14,160,528 F-90
43. 3,072,836 1,378,909 1,260,000 24,472 1,191,408 6,927,625 309,593 309,593 (270,972) (270,972) (270,972) 309,593 38,621 3,072,836 1,107,937 1,260,000 24,472 1,501,001 6,966,246 80,150 (9,910) 70,240 (8,226) 8,226 (429,163) (429,163) 3,152,986 1,107,937 1,260,000 6,336 1,080,064 6,607,323 6,218 6,218 (426,786) (426,786) (426,786) 6,218 (420,568) 3,152,986 681,151 1,260,000 6,336 1,086,282 6,186,755 (122) 122 (355,170) (355,170) 3,152,986 681,151 1,260,000 6,214 731,234 5,831,585 F-91
44. % % 16,000,000 100 1 100 @ 1 100 RKE International Holdings Limited @ # 0.1 100 @ 1 100 RKI Overseas Finance 2016 (A) Limited @ # 1 100 RKI Overseas Finance 2016 (B) Limited @ # 1 100 1 100 1 100 # 1 100 RKP Overseas Finance 2014 (A) Limited # 1 100 RKP Overseas Finance 2016 (A) Limited @ # 1 100 1 100 1 100 1 100 1 100 1 100 1 100 1 100 Road King (China) Infrastructure Limited 2,000,000,000 100 2 100 1 100 1 100 250 94.74 F-92
44. ) % % 153,245,300 100 612,220,000 100 538,000,000 100 678,500,000 94.74 600,000,000 94.74 760,000,000 94.74 1,146,000,000 100 50,000,000 100 50,000,000 100 30,000,000 100 100,000,000 100 1,008,600,000 100 400,000,000 100 950,000,000 75 600,000,000 55 * 500,000,000 90 700,000,000 94.74 4,385,300,000 100 F-93
44. % % 320,000,000 100 100,000,000 100 30,000,000 100 860,000,000 100 550,470,000 100 185,000,000 100 250,000,000 100 150,000,000 100 170,000,000 100 770,000,000 * 710,000,000 100 50,000,000 100 # @ * F-94
44. Road King Infrastructure Finance (2012) Limited 2,736,975 RKI Finance (2013) Limited 2,674,197 RKI Overseas Finance 2016 (A) Limited 3,476,890 RKI Overseas Finance 2016 (B) Limited 3,858,575 1,708,428 9,043,893 5,411,172 45. 26,689,384,000 21,968,543,000 17,337,446,000 12,980,639,000 46. RKP Overseas Finance 2016 (A) Limited300,000,000 7.95 F-95
16,841,585 12,509,646 12,730,104 11,456,048 9,344,130 3,245,292 1,982,523 2,500,655 2,520,762 2,317,737 (1,871,696) (1,154,213) (1,471,272) (1,497,395) (1,465,003) 1,373,596 828,310 1,029,383 1,023,367 852,734 1,250,075 820,005 1,005,018 1,001,618 818,179 123,521 8,305 24,365 21,749 34,555 1,373,596 828,310 1,029,383 1,023,367 852,734 50,400,131 40,056,307 42,483,789 43,429,463 37,275,341 (36,167,503) (26,080,440) (28,431,237) (30,066,211) (25,052,468) 14,232,628 13,975,867 14,052,552 13,363,252 12,222,873 13,291,831 13,155,397 13,207,891 12,671,769 11,793,131 940,797 820,470 844,661 691,483 429,742 14,232,628 13,975,867 14,052,552 13,363,252 12,222,873 F-96
年報 2016 年報 2016