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集團簡介 15 760 40 180 26520

.................................................. 2.................................................. 4.................................................. 6............................................. 8................................................ 11........................................... 12...................................... 16.................................... 35............................................. 41........................................... 56..................................................... 61................................................ 68........................................ A-1....................................... A-3................................... A-4................................... A-5................................... A-7................................... A-8............................... A-10.............................................. A-86

803 1,083 1,699 1,282 1,187 4,942 4,600 4,631 2,408 506 7,573 6,288 2,413 2,996 569 751 539 1,083 767 885 7,475 5,600 2,568 2,598 555 1,605 1,045 1,043 1,209 786 625 728 656 851 705 0.84 0.99 0.87 1.16 1.16 0.43 0.50 0.25 0.52 0.48* 5,230 2,887 796 1,859 1,113 27,686 22,223 20,909 21,428 10,962 17,283 12,190 11,376 12,804 4,184 10,288 9,852 9,369 8,472 6,778 13.9 13.3 12.7 11.3 9.8 (%) 32 34 66 55 30 (%) 24 25 40 35 23 * 2

2010 2009 2008 2007 2006 2,408 4,600 4,631 4,942 7,573 2010 6,288 2009 2008 2007 2006 2,413 2,996 506 569 2007 2006 2010 2009 2008 1,045 1,043 1,209 1,605 2008 2007 2006 2010 2009 705 728 625 851 656 786 2008 2007 2006 2010 2009 10,962 20,909 21,428 27,686 22,223 2010 2009 2008 2007 2006 6,778 8,472 10,288 9,852 9,369 1% 2% 3% 4% 38% 2% 18% 14% 9% 65% 44% 3

6.250.23 0.200.43 0.50 75.73 20%12%31% 810,000 6

6.257.28 0.84 0.99 ( ())5.79319% 19.59 11% 4% 8

75.7320% 49.42 7% 4.82 610,000 200,000 Sunco Real Estate 9

2010 2010 2010 2010 2010 21 21 21 21 21 2010 CRIC 201150 < > 2011 < > 2010 2010 2010 11

% T1 G18 105 40 T2 G25 58 45 T3 307 40 60 T4 307 59 35 T5 206 90 60 T6 312 99 50 T7 307 21 35 T8 206 2 35 T9 G5513 69 43 T10 17 65 T11 108 17 65 T12 108 38 65 T13 343 53 50 T14 324 11 70 T15 311103 80 50 13

1 % P1 F/S/C 309 101 94.74 P2 C 361 4 94.74 P3 M 11 31 100.00 P4 M 108 237 100.00 P5 F/S/C 133 168 100.00 P6 P/F/S/C 315 36 29.84 P7 M 133 73 55.00 P8 C 7 10 100.00 P9 P 134 268 100.00 P10 M 35 105 100.00 P11 R/P/F/S/C 820 477 94.74 P12 P/S/C 327 184 94.74 P13 P/F/S/C 860 1,162 100.00 P14 C 164 2 94.74 P15 P/F/S/C 487 573 100.00 P16 F/S/C 127 288 100.00 P17 2 S/C 67 121 100.00 P18 S/C 91 57 94.74 P19 P/F/S 80 200 100.00 P20 P/F/S/C 249 190 94.74 P21 P/F/S/C 177 244 94.74 P22 P/F/S/C 219 222 94.74 P23 P/F/S/C 111 183 94.74 P24 P/F/S/C 76 82 94.74 P25 S/C 172 24 94.74 P26 M 88 194 100.00 1. M ; R P F S C 2. 14

% % T1 39,859 40 704 15 T2 33,598 12 527-10 T3 13,038-1 27-38 * @ 6,107 10 T4 4,130-42 9-42 T5 5,786-10 25-3 T6 @ 27,384 15 100 22 T7 22,192 31 40-6 T8 16,263 54 12-23 T9 30,425 12 346 18 T10 5,629-17 12-4 T11 8,441 8 12 29 T12 8,460 14 19 21 T13 5,838 11 30 0 T14 6,696 6 17 56 T15 12,621 3 69 1 * @ 2.14 18

7918G18 7.04 15% 112 112 G25 5.27 10% 12% 1.6524% G5513 18% 19

管理層討論及分析續房地產項目住宅北京領海上海上雋嘉苑蘇州尚瀾灣用心築造品質生活常州御城廣州花都商業濟南御景城天津嶼東城常州又一城石家莊國際城廣州荔灣北京昌平新項目成為值得信賴的房地產企業上海外岡 21 路勁基建有限公司二零一零年年報無錫蠡湖

5.25 10.43 18% 10% 2,390 249,000 2,794 308,000 868 154,000 283 16,000 6,335 727,000 1,697 198,000 1,547 162,000 502 98,000 628 36,000 4,374 494,000 950,000 390,000 1,797,000945,000 22

520 23

309,000482,000 9 6313,000 38,00017,0002,000 5.4317,200 76%5.16 38,000 37,0008 36,000 2 727 820,000 1,153,0008 30,0008,000 2.6211,800 82,000 177,000325,000 5 158,000 16,00020,000 4.357,900 35%3.47 58,000 55,00094% 3 78,000 24

11133,000 217,000 4245,000 2,000 7.3312,800 20,40010% 50% 6.13 45,000 69,00065% 34 48,000 860,0001,560,000 i- 325,000 i- 788 100,000 10,000 i-5.558,500 30%i-99,000 i- 385,000 2.1816,400 1.19 7,200 21,000 229,000 25

487,000872,000 8 2264,000 16,000 15,000 5,00016,000 6.496,800 30%4.17 70,000 55,00064% 45 109,000 127,000 395,000 31101,000 4,000 3.836,500 30% 151,000 3 57,000 219,000551,000 4 311,00013 37,000 4 4.887,000 37%3.57 56,000 32,000 34 70,000 26

297,000614,000 200,000 31,000 8,000 2.88 8,90045,00070% 4 40,000 35,000105,000 2 108,000 237,000 3 SOHO 1 88,000 194,000 3 4 27

55% 133,000 133,000 3 67,000121,000 2 126,000 295,000 8,000 Sunco Real Estate 28

4,942 4,600 1,544 539 31% 12% 360 583 (575) (487) 391 514 (115) (104) 1,605 1,045 (972) (302) 633 743 (8) (15) 625 728 7% 29

5.79 30

3,855 4,358 892 985 4,747 5,343 16,280 13,175 5,230 2,887 1,429 818 22,939 16,880 (5,214) (2,904) (3,003) (1,201) (3,095) (2,732) (11,312) (6,837) (5,970) (5,354) 10,404 10,032 18 22 31

3.5 460,000 712,000 64.01 86.90 3.5 102.8898.52 13.9 13.3 276.86222.23 52.3028.8765%35% 3.5 13 32

65% 84% 9.5 3.5 34% 32%17.613.9 86.9064.01 3,003 1,201 1,510 2,081 4,177 3,119 8,690 6,401 6.25 2 7.625 2 9.5 3.5 1.902.07 13.2237.45 33

531 581 98 78 44.90 1,540 2.58 15,110,000 34

63 610 55 21 52 773 30 48 25 58 610 240 35 35

48 604 23181124 20 57 6041124 20 48 17 659 610 000690 240 665 Univerisity of EdinburghUniversity of Essex 36

62 63 35 69 OBE 498 25 51240 37

39 17 55 31 40 15 36 15 38

47 22 14 56 32 22 36 13 500 39 13 38 15 20 39

45 20 43 11 40

41 19 30% A-3A-4 0.20 1.48 0.23 1.71() 2826 27 28 41

A-7 1,348,042 1,348,042 1,976,979 1,099,299 3,325,021 2,447,341 (i) (ii) 17 18 29 42

34 A-86 86(2) 87 12 43

8.10 44

XV 352 (I) % 3 4,324,0001 0.58 6,400,0002 0.86 910,0001 0.12 5,900,0002 0.80 1,000,0001 0.13 4,300,0002 0.58 790,0001 0.11 3,900,0002 0.53 6,053,0001 0.82 3,150,0002 0.42 150,0002 0.02 150,0002 0.02 461,0001 0.06 500,0002 0.07 305,0001 0.04 500,0002 0.07 150,0002 0.02 1. 2. (II) 3. 741,934,566 45

(II) 28 5 1 1,000,000 (1,000,000) 6.27 2 2,500,000 2,500,000 3 2,500,000 2,500,000 4 1,400,000 1,400,000 1 500,000 (500,000) 6.77 2 2,300,000 2,300,000 3 2,300,000 2,300,000 4 1,300,000 1,300,000 2 1,800,000 1,800,000 3 1,600,000 1,600,000 4 900,000 900,000 1 700,000 (700,000) 6.88 2 1,400,000 1,400,000 3 1,600,000 1,600,000 4 900,000 900,000 2 800,000 800,000 3 1,500,000 1,500,000 4 850,000 850,000 4 150,000 150,000 4 150,000 150,000 * 2 250,000 (250,000) 3 250,000 (250,000) * 2 250,000 (250,000) 3 250,000 (250,000) 1 250,000 (250,000) 7.06 2 250,000 250,000 3 100,000 100,000 4 150,000 150,000 1 250,000 (250,000) 7.18 2 250,000 250,000 3 100,000 100,000 4 150,000 150,000 4 150,000 150,000 22,700,000 6,100,000 (2,700,000) (1,000,000) 25,100,000 46

(II) 1 100,000 (100,000) 6.53 2 3,675,000 (85,000) 3,590,000 3 6,710,000 (330,000) 6,380,000 4 9,010,000 (18,000) (459,000) 8,533,000 7.15 10,485,000 9,010,000 (118,000) (874,000) 18,503,000 5 33,185,000 15,110,000 (2,818,000) (1,874,000) 43,603,000 1. 5.80 2. 11.66 3. 14.85 4. 6.79 2 : 1,853 1,721 1,190 1,190 1,125 199 199 199 199 199 8,074 5. 47

(II) * XV 352 336 % 1 11 2 286,317,428 38.59 Wai Kee (Zens) Holding Limited3 286,317,428 38.59 4 65,918,000 8.88 Wai Kee China Investments (BVI) Company Limited4 217,399,428 29.30 5 217,399,428 29.30 48

% 1 11 ZWP Investments Limited6 217,399,428 29.30 7 202,334,142 27.27 8 202,334,142 27.27 9 202,334,142 27.27 Hover Limited10 202,334,142 27.27 1. 2. (i) Wai Kee (Zens) Holding Limited Wai 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 4. Wai Kee China Investments (BVI) Company Limited Wai Kee (Zens) Holding Limited 5. Wai Kee China Investments (BVI) Company Limited 6. ZWP Investments Limited 7. 100% 8. 43.09% 9. Hover Limited 10. Hover Limited 11. 741,934,566 49

336 101.95% 102%32,769,000 6.25 % 30,414 102.00 31,022 2,355 101.95 2,401 32,769 33,423 5,000,000 50

1,646,000 28 1. 13.16 (a) 39 50% (b) 51

1. 13.16 (c) (d) 28.41 275.16 8% 20) 2. 13.18 1.57.625 26 13 9.5 3.5 101% 3. 13.22 (a) 8,361,661 1,892,453 (1,130,621) 761,832 (547,903) 8,575,590 52

3. 13.22 (b) 50% 124,677 60% 80,118 60% 71,707 50% 64,705 35% 34,514 35% 43,253 35% 31,686 70% 81,800 70% 79,223 70% 80,474 40% 54,064 40% 54,111 40% 53,907 40% 54,994 40% 54,377 40% 55,049 40% 50,550 40% 54,187 40% 54,445 40% 54,703 45% 182,778 45% 159,225 45% 109,749 43.17% 58,635 43.17% 59,832 43.17% 59,567 43.17% 61,465 43.17% 59,510 43.17% 47,346 50% 68,487 50% 63,286 50% 68,352 50% 59,025 65% 99,693 65% 75,938 65% 60,460 60% 96,657 60% 54,040 50% 120,874 * 31.50% 43,649 2,841,112 * 94.74% 53

4. 13.51B(1) 13.51B(1) 5,500,000 5,850,000 4,750,000 5,000,000 100,000 3,200,000 3,350,000 2,500,000 2,700,000 0.25%0.30% 3,500,000 3,700,000 360,000370,000 345,000365,000 335,000345,000 5. 54

43 55

A.4.1 6 3 3 6/6 3/3 6/6 6/6 6/6 6/6 1/6 3/6 3/3 6/6 3/3 3/3 6/6 3/3 3/3 5/6 2/3 2/3 56

A.4.1 87 3.13 57

the Committee of Sponsoring Organization of the Treadway Commission COSO 59

5,000,0001,430,000 A-1A-2 60

Sunco Management Sunco Management 571 0.10 61

Sunco Management Sunco Real Estate % 50% Sunco Management Holdings Limited 94.74% Sunco Real Estate Investment Limited 62

307 307 206 206 312 324 G18 309 307 G25 311103 G5513 343 108 108 64

299 117 33 440 13 65

8 161 10 12 88 9 998 1 1 669 2999 66

207 8 67

Conyers, Dill & Pearman Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre 11 Bermudiana Road Pembroke, HM 08, Bermuda 28 26 Clarendon House 2 Church Street Hamilton HM 11 Bermuda 9 6 5 501 http://www.roadking.com.hk http://www.rkph.com 1098 1098.HK 1098HK (852) 2957 6800 (852) 2375 2477 rki@roadking.com.hk 68

A-3A-85 90 A-1

A-2

7 4,942,028 4,600,424 (3,398,281) (4,061,924) 1,543,747 538,500 33,428 23,090 46,476 33,987 9 279,628 526,533 (167,581) (127,682) (407,393) (358,858) 10 391,478 514,323 11 (115,272) (104,435) 12 1,604,511 1,045,458 14 (971,790) (302,281) 632,721 743,177 625,008 728,080 7,713 15,097 632,721 743,177 16 0.84 0.99 0.84 0.99 A-3

632,721 743,177 145,272 50,090 777,993 793,267 : 768,492 776,630 9,501 16,637 777,993 793,267 A-4

17 60,043 19,352 18 715,386 255,437 19 3,855,047 4,357,996 21 48,200 30 6,500 31,506 22 110,634 542,603 2 88,310 4,747,610 5,343,404 23 14,496,917 12,953,468 24 1,783,378 222,334 20 43,649 64,286 21 23,400 3,300 25 974,810 330,951 196,694 211,203 26 189,546 206,553 26 5,230,371 2,887,090 22,938,765 16,879,185 27,686,375 22,222,589 27 74,193 73,912 10,213,942 9,777,653 10,288,135 9,851,565 115,663 180,778 10,403,798 10,032,343 29 5,686,644 5,199,953 30 283,470 153,886 5,970,114 5,353,839 A-5

31 2,419,010 2,438,815 5,213,949 2,904,072 676,081 292,195 29 3,003,423 1,201,325 11,312,463 6,836,407 27,686,375 22,222,589 A-3A-85 A-6

a b 73,893 3,142,142 1,279,924 1,260,000 85,791 32,945 3,494,766 9,369,461 164,141 9,533,602 728,080 728,080 15,097 743,177 48,550 48,550 1,540 50,090 48,550 728,080 776,630 16,637 793,267 73,893 3,142,142 1,328,474 1,260,000 85,791 32,945 4,222,846 10,146,091 180,778 10,326,869 19 1,064 1,083 1,083 (3,150) 3,150 (129,970) 129,970 (295,609) (295,609) (295,609) 4,603 (4,603) 73,912 3,143,206 1,198,504 1,260,000 82,641 37,548 4,055,754 9,851,565 180,778 10,032,343 625,008 625,008 7,713 632,721 143,484 143,484 1,788 145,272 143,484 625,008 768,492 9,501 777,993 73,912 3,143,206 1,341,988 1,260,000 82,641 37,548 4,680,762 10,620,057 190,279 10,810,336 281 16,080 16,361 16,361 (4,437) 4,437 679 (679) 20,000 20,000 20,000 25,852 (25,852) 1,895 1,895 (90,205) (88,310) 15,589 15,589 (370,178) (370,178) (370,178) 7,515 (7,515) 74,193 3,159,965 1,367,840 1,260,000 97,525 45,063 4,283,549 10,288,135 115,663 10,403,798 (a) (b) A-7

1,604,511 1,045,458 17,521 22,268 162,103 158,000 (91,013) (179,749) (40,678) (33,428) (23,090) 115,272 104,435 33 (578,597) (391,478) (514,323) 2,082 1,485 20,000 1,225,821 174,958 (630,469) 394,570 953,541 (652,827) (1,339,806) 2,328,046 (187,095) (221,592) 2,256,222 759,386 (1,672,523) (113,491) 605,691 2,669,050 (425,184) (174,297) 180,507 2,494,753 780,970 548,831 (155,599) (17,189) 20,823 (41,345) 33 1,251,097 34,559 21,904 3,360 2,231 222,683 66,195 (10,828) (5,313) 32 (426,442) 914 28,100 3,200 20,637 7,143 27,211 17,007 15,589 (716,458) (88,310) 561,063 1,049,907 A-8

3,924,442 1,323,356 (1,674,434) (2,113,964) 16,361 1,083 (370,178) (295,609) (347,821) (374,898) 1,548,370 (1,460,032) 2,289,940 2,084,628 2,887,090 796,098 53,341 6,364 5,230,371 2,887,090 A-9

1. Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda 96 5 501 41 19 2. 2 3 27 39 17 5 5 A-10

2. 3 3 3 3 3 27 27 27 5.28% 88,310,000 89.46%94.74% 1,895,000 A-11

2. 5 55,, 5 5 5 5 149,361,000 5 6(b)(iii) 1 1 7 3 1 5 7 5 9 7 12 6 24 4 32 2 4 14 3 19 A-12

2. 1 2 3 4 5 6 7 12 40 12 3. A-13

3. A-14

3. (i) (ii) 39 A-15

3. 12 19 2 A-16

3. 3937 A-17

3. A-18

3. 40 16 A-19

3. A-20

3. 39 36 36 A-21

3. A-22

3. A-23

3. A-24

3. A-25

3. A-26

3. A-27

3. (i) 37 (ii) 18 A-28

3., 4. 3 A-29

4. 3,838,124,000 4,307,950,000 13,047,098,000 10,520,175,000 3,838,124,000 4,307,950,000 5. 29 A-30

5. 6. (a) 6,353,510 3,955,500 11,109,077 8,840,093 (b) A-31

6. (b) (i) 1,537,894 94,797 7,340,630 5,340,545 343,556 375,445 371,760 131,100 5% 5% 5% 5%5% 290,137 262,287 1,410 (12,217) A-32

6. (b) (i) 100 100 6,104,000 6,704,00014,899,000 15,957,000 (ii) 37 A-33

6. (b) (ii) 20 21 22 25 22 110,634,000 510,397,000 20 21 25 70% (iii) 50,000,000 100,000,000 A-34

6. (b) (iii) 694,890 1,724,120 2,419,010 2,419,010 7.8 327,003 2,542,054 443,901 5,259,264 8,572,222 6,566,315 2.04 487,370 240,623 1,509,846 2,237,839 2,123,752 4,490,163 4,490,163 5,999,426 4,506,797 1,953,747 5,259,264 17,719,234 11,109,077 565,822 1,872,993 2,438,815 2,438,815 6.64 175,921 451,281 1,954,234 2,368,044 4,949,480 4,083,714 2.31 236,775 235,565 467,169 1,502,070 2,441,579 2,317,564 3,433,161 3,433,161 4,411,679 2,559,839 2,421,403 3,870,114 13,263,035 8,840,093 A-35

6. (b) (iii) 149,361,000 157,409,000 (c) 29 A-36

7. 4,942,028 4,600,424 802,617 1,082,933 5,744,645 5,683,357 8. A-37

8. 4,942,028 4,942,028 4,600,424 4,600,424 144,990 482,435 627,425 823,968 (10,248) 813,720 3,992,321 18,816,164 22,808,485 4,376,361 15,305,633 19,681,994 (57,557) (14,627,160) (14,684,717) (50,269) (10,269,610) (10,319,879) 2,608 25,723 28,331 349 20,241 20,590 578,597 578,597 (162,103) (162,103) (158,000) (158,000) 91,013 91,013 179,749 179,749 40,678 40,678 (71) (16,984) (17,055) (163) (21,616) (21,779) (4,192) (75,727) (79,919) (5,600) (10,018) (15,618) (20,230) (951,560) (971,790) (18,017) (284,264) (302,281) 395,634 (4,156) 391,478 484,429 29,894 514,323 3,838,124 16,923 3,855,047 4,307,950 50,046 4,357,996 30 166,127 166,157 35 23,285 23,320 A-38

8. (a) 3 A-39

8. (b) 627,425 813,720 5,097 2,500 62,990 25,819 (27,438) (10,045) (35,353) (88,817) 632,721 743,177 22,808,485 19,681,994 789 600 23,400 51,500 3,067 4,453 4,850,634 2,484,042 27,686,375 22,222,589 (14,684,717) (10,319,879) (144,929) (78,468) (2,452,931) (1,791,899) (17,282,577) (12,190,246) A-40

8. (c) (d) 90% (e) 10% 9. 578,597 (162,103) (158,000) (2,082) (1,485) 91,013 179,749 40,678 173,051 66,743 279,628 526,533 A-41

10. 687,723 762,966 (188,043) (191,834) (112,943) (85,203) 8,897 (1,500) 395,634 484,429 (4,156) 29,894 391,478 514,323 15%25% 11. 395,794 364,424 40,693 40,422 436,487 404,846 (321,215) (300,411) 115,272 104,435 5.30% 4.74% A-42

12. 18,255 23,079 (734) (811) 17,521 22,268 12,876 13,801 (147) (741) 12,729 13,060 227,766 167,694 11,926 341,000 195,000 30,257 22,470 (54,075) (44,926) 215,874 145,238 5,000 5,049 3,398,281 4,061,924 23,837 13,751 6,138 4,654 A-43

13. 5,500 7,719 550 13,769 4,441 6,250 444 11,135 2,947 2,188 295 5,430 2,310 1,563 231 4,104 3,500 12 3,512 200 200 200 200 123 123 357 357 366 366 341 341 1,587 18,698 17,720 1,532 39,537 A-44

13. 4,750 8,992 475 14,217 3,823 7,281 382 11,486 2,441 2,548 244 5,233 1,931 1,820 193 3,944 3,500 12 3,512 149 149 181 181 44 44 12 12 337 337 352 352 327 327 127 127 1,529 16,445 20,641 1,306 39,921 A-45

14. 280,823 162,092 431,401 109,237 30,970 15,725 743,194 287,054 80,000 30 148,596 15,227 971,790 302,281 25% A-46

14. 1,604,511 1,045,458 25% 25% 401,128 261,365 431,401 109,237 (107,850) (27,309) 246,157 179,811 (64,221) (170,876) (97,869) (128,581) 19,093 40,502 40,384 63,638 (35,010) (61,955) 34,765 2,292 30,970 15,725 80,000 (7,158) 18,432 971,790 302,281 15. 0.30 0.20 222,035 147,785 0.20 0.20 148,143 147,824 370,178 295,609 A-47

15. 0.23 1.71 741,934,566 16. 625,008 728,080 740,205 738,993 122 740,327 738,993 A-48

17. 17,575 1,156 19,444 25,625 905 21,969 86,674 1,871 2,380 1,062 5,313 (227) (4,208) (804) (5,612) (10,851) 18 (17,575) (17,575) 32(b) 92 739 831 10 152 211 9 216 598 939 21,467 24,100 110 18,374 64,990 57 4,507 6,264 10,828 (6,276) (1,072) (2,429) (3,266) (13,043) 53,086 53,086 32(a) 102 287 389 5 260 641 (98) 402 1,210 47,811 20,655 26,921 12 22,061 117,460 190 8,816 12,580 7,742 29,328 283 11,144 7,356 47 4,249 23,079 (87) (3,830) (3,218) (7,135) 3 95 164 104 366 389 20,055 16,270 47 8,877 45,638 9,745 864 3,670 3 3,973 18,255 (1,060) (1,072) (2,353) (3,116) (7,601) 140 286 406 (38) 331 1,125 9,214 20,133 17,993 12 10,065 57,417 38,597 522 8,928 11,996 60,043 550 1,412 7,830 63 9,497 19,352 4040 A-49

17. 20 25 3 10% 25% 20% 30% 12.5% 25% A-50

18. 171,233 143,851 24,804 91,013 18,171 25,989 4,803 1,393 310,024 171,233 84,204 17 17,575 34,231 155,599 17,189 161,578 14,689 3,981 520 405,362 84,204 715,386 255,437 40 17,575,000 34,231,000 A-51

18., A-52

19. 4,602,426 4,606,618 3,249,063 3,428,703 a (3,691,024) (3,569,371) b (322,341) (158,000) 3,838,124 4,307,950 16,123 16,123 800 33,923 16,923 50,046 3,855,047 4,357,996 (a) (b) 162,103,000 158,000,000 A-53

19. 133,530,000 50% # 90,000,000 60% * # 206 80,000,000 60% * # 206 92,400,000 50% # 73,592,000 35% # 92,880,000 35% # 307 A-54

19. 68,040,000 35% # 307 99,562,400 70% * # 324 78,200,000 70% * # @ 309 81,800,000 70% * # @ 309 96,287,600 40% # 95,700,000 40% # A-55

19. 96,007,600 40% # 97,262,000 40% # 96,843,600 40% # 97,359,600 40% # 90,030,400 40% # 96,507,600 40% # 96,575,200 40% # A-56

19. 97,426,400 40% # 287,324,000 45% # 250,300,000 45% # 172,524,000 45% # 97,011,500 43.17% # 98,985,400 43.17% # A-57

19. 98,553,500 43.17% # 101,695,200 43.17% # 98,458,100 43.17% # 78,328,300 43.17% # 97,800,000 50% # @ 90,364,000 50% # A-58

19. 73,400,000 50% # 311 103 63,400,000 50% # 311 103 82,340,000 65% * # 108 83,414,000 65% * # 66,412,000 65% * # 108 88,000,000 60% * # 307 A-59

19. 44,000,000 60% * # 307 130,000,000 50% 343 * # @ A-60

19. 50,000,000 31.5% 991,817 1,239,397 (600,339) (725,074) 1,084,690 666,075 3,814,959 4,214,789 (722,261) (364,868) 20. 64,286,000 5.6, 20,637,00043,649,000 5.6 6(b)(ii) A-61

21. 1.756.25 1.7 28,100,000 23,400,000 23,400 3,300 16,700 31,500 23,400 51,500 (23,400) (3,300) 48,200 23,400 31,500 20,000 23,400 51,500 A-62

22. (a) 4,995 (b) 27,211 (c) 110,634 510,397 110,634 542,603 (a) 254,995,000 90 7,859,000 8,163,000 4,995,000 25 (b) 27,211,000 33(a)(ii) 25 6(b)(ii) (c) 1 6(b)(ii) 23. 1,449,819 2,433,293 13,047,098 10,520,175 14,496,917 12,953,468 10,593,495,000 8,855,792,000 A-63

24. 1,783,378,000 222,334,000 25. (a) 60 48,073 11,227 6090 6,277 6,267 90 11,778 14,263 66,128 31,757 22(b) 33(a)(ii) 27,713 27,211 335 1,439 210,969 115,904 (b) 669,665 154,640 974,810 330,951 (a) 22(a) 60 (b) 517,321,000 31,746,000 311,778,000 381,573,00036,281,000 18,141,000 18,140,000 51,700,000 A-64

25. 7,859,000 8,163,000 26. 189,546,000 206,553,000 0.011.35 0.011.17 0.780.36 340,341 353,122 1,513,453 60,544 A-65

27. 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 52 739,116,566 738,926,566 73,912 73,893 2,818,000 190,000 281 19 741,934,566 739,116,566 74,193 73,912 2,818,000 190,00028 28. A-66

28. 10%10% 10% 39,540,15654,650,156 43,603,000 5.88% 10% 30% 1% 1 (a) (b) (c) 15,110,000132 20,000,000 8,074,000 Hull White Trinomial 6.79 6.79 38.87% 5 2.01% 6.73% A-67

28. 5.80 2,700,000 (2,700,000) 11.66 9,800,000 (500,000) 9,300,000 14.85 10,200,000 (500,000) 9,700,000 6.79 6,100,000 6,100,000 22,700,000 6,100,000 (2,700,000) (1,000,000) 25,100,000 5.80 100,000 (100,000) 11.66 3,675,000 (85,000) 3,590,000 14.85 6,710,000 (330,000) 6,380,000 6.79 9,010,000 (18,000) (459,000) 8,533,000 10,485,000 9,010,000 (118,000) (874,000) 18,503,000 33,185,000 15,110,000 (2,818,000) (1,874,000) 43,603,000 12.79 6.79 5.81 11.88 11.20 A-68

28. 5.70 140,000 (140,000) 5.80 2,700,000 2,700,000 11.66 9,800,000 9,800,000 14.85 10,200,000 10,200,000 22,840,000 (140,000) 22,700,000 5.70 390,000 (50,000) (340,000) 5.80 100,000 100,000 11.66 4,192,000 (517,000) 3,675,000 14.85 7,360,000 (650,000) 6,710,000 12,042,000 (50,000) (1,507,000) 10,485,000 34,882,000 (190,000) (1,507,000) 33,185,000 12.70 5.70 11.69 12.79 6.68 5.92 A-69

29. (a) 2,673,040 2,692,473 (b) 2,652,917 (c) 1,251,394 1,522,085 (d) 2,112,716 2,186,720 8,690,067 6,401,278 * 1,348,449 113,379 1,245,255 1,522,085 4,176,809 2,791,501 6,770,513 4,426,965 * 1,505,613 1,087,946 264,580 559,119 327,248 1,770,193 1,974,313 ( ) 149,361 8,690,067 6,401,278 (3,003,423) (1,201,325) 5,686,644 5,199,953 * A-70

29. (a) 1,523,892,000 1,536,047,000 7.625 1,149,148,000 1,156,426,000 2.25 2,616,900,000 2,466,750,000 (b) 9.5 2,702,700,000 (c) 6.25 1,278,056,000 1,482,975,000 (d) 1,138,112,000 1,025,582,0005.135.62 4.867.081.351.851.391.87 342,524 99,028 7,209,431 5,276,669 A-71

30. (75,904) 35,203 46,000 101,999 107,298 22,765 (13,234) 2,292 10,169 (6,765) 15,227 (346) 10 57 35 99 (145) (53,485) 21,979 48,349 10,204 95,333 122,380 25,311 (101) 34,765 67,691 20,930 148,596 (610) 406 2,891 1,204 2,103 5,994 (28,784) 22,284 86,005 79,099 118,366 276,970 (i)(ii) (iii)(iv)(v) (6,500) (31,506) 283,470 153,886 276,970 122,380 A-72

30. 504,006,000 342,472,000 1,069,340,000 1,214,351,000 115,136,000 213,938,000 954,204,000 1,000,413,000 954,204,000 1,000,413,000 31. 60 47,916 9,299 6090 2,045 11,339 90 103,795 99,722 153,756 120,360 1,724,120 1,872,993 1,877,876 1,993,353 132,229 66,385 23,615 15,595 385,290 363,482 2,419,010 2,438,815 A-73

32. (a) 505,000,000, 389 3,000 658,208 3,411 1,111 78,558 (52,572) (187,105) 505,000 505,000 505,000 (78,558) 426,442 A-74

32. (b), 831 268,749 2,010,724 11,061 28,379 914 (907,595) (48,992) (9,112) 1,354,959 1,354,959 914 A-75

33. (a) (i) 45% 1,207,684,000 584,864 253,130 (202,364) 635,630 8,640 563,414 1,207,684 1,207,684 1,207,684 (8,640) 1,199,044 99,743,00047,511,000 A-76

33. (a) (ii) 70%124,270,000 118,365 81,929 (91,995) 108,299 788 15,183 124,270 52,841 (a) 44,218 22(b) 27,211 124,270 52,841 (788) 52,053 (a) 17,007,000 27,211,000 25 (b) A-77

34. 35. 9,282 6,402 42,327 26,069 75,669 85,723 127,278 118,194 A-78

35. 10,854 12,543 13,583 3,790 24,437 16,333 36. 146,207 18,146 316,536 544,529 37. 4,490,163,000 3,433,161,000 A-79

38. 261,321,777,000 3,744,759,000 39. Sunco Management Holdings Limited 40. 2 20 21 33 3,326 7,795 2,448 1,544 2,448,000 1,544,000 A-80

40. 71,956 65,262 3,569 2,889 13,752 89,277 68,151 41. % % * 91,745,300 100 * 123,500,000 100 ** 100,000,000 100 * 60,000,000 100 50,000,000 100 *** @ * 60,220,000 100 * 538,000,000 100 A-81

41. RK Properties Finance (2007) # Limited % % 1 100 # 1 100 1 100 RKI Finance Limited # 1 100 RKI Finance (2010) Limited @ # 1 100 Road King (China) Infrastructure Limited 1,300,000,000 100 Road King Infrastructure Finance (2004) Limited # 1 100 Road King Infrastructure Finance (2007) Limited # 1 100 2 100 # 250 94.74 (: 89.46) * 678,500,000 94.74 (: 89.46) * 600,000,000 94.74 (: 89.46) A-82

41. % % * 760,000,000 94.74 (: 89.46) ** 235,000,000 94.74 (: 89.46) *** @ 30,000,000 55 *** 250,000,000 100 *** 300,000,000 94.74 (: 89.46) *** 50,000,000 94.74 (: 89.46) *** 40,000,000 94.74 (: 89.46) *** 90,000,000 94.74 (: 89.46) *** 40,000,000 94.74 (: 89.46)) *** 50,000,000 94.74 (: 89.46) * 41,500,000 100 *** 40,000,000 94.74 (: 89.46) A-83

41. % % *** 110,000,000 94.74 (: 89.46) *** 160,000,000 94.74 (: 89.46) *** 130,000,000 94.74 (: 89.46) *** 250,000,000 94.74 (: 89.46) ** 2,508,600,000 100 # * ** *** @ A-84

41. Road King Infrastructure Finance (2004) Limited 1,251,394 1,522,085 Road King Infrastructure Finance (2007) Limited 2,673,040 2,692,473 RKI Finance (2010) Limited 2,652,917 6,577,351 4,214,558 42. 16,373,912,000 15,386,182,000 11,626,302,000 10,042,778,000 43. 1,300,000,000 6 A-85

4,942,028 4,600,424 4,630,672 2,407,770 552,239 1,604,511 1,045,458 1,043,327 1,208,952 785,853 (971,790) (302,281) (366,693) (342,811) (84,130) 632,721 743,177 676,634 866,141 701,723 625,008 728,080 656,429 851,067 705,076 7,713 15,097 20,205 15,074 (3,353) 632,721 743,177 676,634 866,141 701,723 27,686,375 22,222,589 20,909,142 21,428,355 10,961,828 (17,282,577) (12,190,246) (11,375,540) (12,804,412) (4,184,260) 10,403,798 10,032,343 9,533,602 8,623,943 6,777,568 10,288,135 9,851,565 9,369,461 8,472,416 6,777,568 115,663 180,778 164,141 151,527 10,403,798 10,032,343 9,533,602 8,623,943 6,777,568 A-86