從中信泰富到中信股份 新的篇章 中信泰富在2014年8月25日完成收購中信集團幾乎 全部業務以後 已正式更名為中國中信股份有限公 司 並以同一個股份代號00267在香港交易所掛牌 上市 收購完成後 公司的規模和業務範疇都比之 前顯著擴大 也將延續原有的成熟高效的企業管治 和良好的國際化管理 這份報告

從中信泰富到中信股份 新的篇章 中信泰富在2014年8月25日完成收購中信集團幾乎 全部業務以後 已正式更名為中國中信股份有限公 司 並以同一個股份代號00267在香港交易所掛牌 上市 收購完成後 公司的規模和業務範疇都比之 前顯著擴大 也將延續原有的成熟高效的企業管治 和良好的國際化管理 這份報告涵蓋的是公司截止2014年6月30日止的上 半年業績 當時的股東權益為港幣1,020億 而現 在公司的規模是當時的四倍 已成為一家擁有規模 可觀的金融業務 擴大的房地產及基礎設施業務 以及資源能源 工程承包 製造業及其他多項業務 的大型綜合企業集團 公司的業務結構與中國多元 的經濟行業結構高度契合 中信股份在港交所掛牌交易為集團的發展翻開了新 的篇章 我們將充分利用管理團隊的專業知識以及 處於各行業領先地位的多元化業務優勢 以高標準 的企業管治和國際最佳水準的管理 立足公司的長 遠發展 為股東創造更大的價值

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6 30 2014 2013 1 55,026 48,977 6,049 EBITDA 7,798 8,892 (1,094) EBIT 5,669 4,653 1,016 2,417 (2,417) EBIT 5,669 7,070 (1,401) 2,005 4,463 (2,458) 0.55 1.22 (0.67) 2 1.5 10 (8.5) 5,988 3,729 2,259 1,462 1,255 207 7,160 10,254 (3,094) 2014 6 30 2013 12 31 102,113 101,763 350 90,406 85,660 4,746 31,331 35,070 (3,739) 15,391 13,032 2,359 (%) 47 46 1 36,235 36,512 (277) 8,893 9,233 2010 58 88 46 59 192 2013 12 31 6,954 7,588 59 93 45 57 4,463 197 2014 6 30 2,005 2011 2012 2013 2013 2014 1 2014 2014 2014 6 30 6 30 6 30 3 4 58,976 547 21,848 1,377 773 168 93,276 5,142 475 345 (1,067) (13) 45,326 (800) 1,910 761 345 127 14,504 (2,614) 1,052 562 812 613 10,535 751 5,281 (739) 874 2 2,102 (81) 659 22 309 12 21,696 69 22,094 3,158 236 19 3,945 52 1,707 620 160 (180) 1 2 3 4 3

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55 18.6% 45% 8,893 9,233 6,954 7,588 4,463 2,005 2010 2011 2012 2013 2013 2014 0.551.22 55% 3,649,444,160 19% 1.510 90 3.0 75 60 45 30 15 2.5 2.0 1.5 1.0 0.5 2010 2011 2012 2013 2013 2014 12

^ 6 30 2014 2013 2014 2013 6 30 12 31 773 605 58,976 58,429 (1,067) (1,054) 93,276 88,134 345 218 45,326 46,126 812 199 14,504 17,118 874 872 10,535 9,784 309 297 2,102 2,183 236 217 21,696 21,627 160 340 3,945 3,893 195 120 4,079 3,792 ^ 2,637 1,814 254,439 251,086 773 605 812 872 874 218 345 199 297 309 217 236 340 160 (1,054) (1,067) 2013 2014 13

2% 89% 6 30 2014 2013 344 99 245 247% 213 221 (8) (4)% (212) (102) (110) (108)% 345 218 127 58% 6 30 2014 2013 615 (42) 657 197 241 (44) (18)% 812 199 613 308% 14

12% 30% 24% 6 30 2014 2013 703 627 76 12% 171 245 (74) (30)% 874 872 2 2% 6% 9% 4S 20% 99% IDD 18.6% 25% 15

17 18 12 25% 12% 5% 10% 7% 2013 42% 2014 40% 39% 2% 40% 3% 2% 2%2%1% 4% 2%1% 3% 3% 2013 93% 2014 87% 16

3% 4.5% 2% 6 30 2014 2013 5,998 3,729 2,269 61% 985 907 78 9% 144 139 5 4% 333 209 124 59% 1,462 1,255 207 16% 7,460 4,984 2,476 50% 1,168 1,742 (574) (33)% 7,725 (7,725) (100)% 8,628 14,451 (5,823) (40)% * (6,320) (8,859) (2,539) (29)% (912) (1,095) (183) (17)% (567) (230) 337 147% (2,770) (2,764) 6 (4,678) (629) 4,049 644% (15,247) (13,577) 1,670 12% (6,619) 874 (7,493) * 18 19 61% 17

2918 19 2014 6 30 2013 1,053 42 1,095 1,691 50 1,741 (146) (146) 15 1 16 1,356 601 1,957 1,098 382 1,480 2,263 643 2,906 2,804 433 3,237 3,642^ 59 3,701 192 49 241 24^ 27 51 8 318 326 303 225 528 304 1 305 (14)^ 177 163 377 313 690 105 105 64^ 72 136 (220) 226 6 (20) 69 49 5,998 1,462 7,460 3,729 1,255 4,984 ^ 30 25 20 15 10 5 2010 2011 2012 2013 2013 2014 18

6 30 2014 2013 1,265 1,529 (264) (17)% 3,463 5,893 (2,430) (41)% 1,877 1,965 (88) (4)% 6,605 9,387 (2,782) (30)% 555 867 (312) (36)% 7,160 10,254 (3,094) (30)% 30% 28 29 2014 2013 6 30 12 31 268,370 267,779 591 142,366 138,705 3,661 3% 145 86 59 69% 18 2,983 2,697 286 11% 18 15,901 14,660 1,241 8% 90,406 85,660 4,746 6% 102,113 101,763 350 19

58 59 88 93 46 45 59 192 57 197 2013 12 31 2014 6 30 36% 35% 2013 12 31 52% 2014 6 30 52% 12% 13% 20

255 268 4,687 4,964 9,990 10,003 2013 12 31 2014 6 30 2014 6 30 2013 12 31 2014 6 30 2013 12 31 1,821 2,225 42 (91) 26,175 26,143 (2,978) (2,596) 619 642 98 76 28,615 29,010 (2,838) (2,611) 21

8% 43% 2013 12 31 47% 50% 2014 6 30 40% 10% 10% 6% 7% 24% 19% 58% 2013 12 31 63% 2014 6 30 11% 12% 22

6% 25 29 140 120 100 80 60 40 20 2010 2011 2012 2013 2014 6 30 23

ALCO ALCO ALCO ALCO ALCO ALCO ALCO ALCO ALCO 24

ALCO 2014 6 30 2013 12 31 2013 6 30 121,992 121,144 118,697 31,331 35,070 33,685 90,661 86,074 85,012 2014 6 30 2013 12 31 13,643 13,346 26,969 27,737 2,600 2,701 792 776 7,404 7,435 70,584 69,149 121,992 121,144 25

2014 2015 2016 2017 2018 2019 70,584 4,400 20,517 8,197 3,206 9,158 25,106 51,408 13,370 6,164 3,977 3,416 3,322 21,159 121,992 17,770 26,681 12,174 6,622 12,480 46,265 15% 0% 1% 4% 9% 38% 2014 6 30 22% 20% 2014 6 30 10% 10% 5% 2014 2015 2016 2017 2018 2019 16% 50% 26

249 96 (5,526) (2,763) (1,050) (517) 9,811 4,917 (298) (104) (93) (52) 6,670 2,751 687 (59) 10,450 4,269 47% 250 200 150 42% 46% 46% 50% 46% 47% 60 50 40 100 30 50 20 2009 2010 2011 2012 2013 2014 % 27

ALCO 40 Sino Iron Sino Iron 28

19,598 1,560 21 17,979 ^ 38 10,789 6,204 4,535 32 18 542 406 1 134 1 287 250 5 31 1 115 32 83 31,331 8,452 4,556 18,017 134 31 141 ^ 74,862 60,471 14,391 49% 20,725 19,725 1,000 4% 95,587 80,196 15,391 53% 18,558 10,281 8,277 28% 9,093 3,635 5,458 19% 27,651 13,916 13,735 47% 123,238 94,112 29,126 100% 61,482 53,219 8,263 28% 54,426 37,219 17,207 59% 7,330 3,674 3,656 13% 123,238 94,112 29,126 100% 29

250 1,027 1.5 1.2 30% 0.3% 30

Ba2 BB A3 BB A3 BBB+ A3 BBB+ 253 Mineralogy Pty LtdMineralogy (Mining Right and Site Lease Agreements) B Mineralogy Mineralogy B Mineralogy Mineralogy Mineralogy Mineralogy Mineralogy Mineralogy MineralogyMineralogy B Mineralogy 31

(www.sfc.hk) ALCO ALCO 39 Reval Inc.Reval Reval 13 Reval SunGard Data Systems Inc.SunGard Integrity 32

(1) (2) (3) (4) (5) (6) 39 33

121,992 19,504 87,101 14,118 653 616 121,992 20,008 87,343 14,118 149 374 (31,331) (4,556) (8,452) (18,017) (55) (251) 90,661 15,452 78,891 (3,899) 94 123 12% 1% 16% 12% 16% 2014 6 30 2014 6 30 71% 72% 34

55% 140,000 120,000 121,144 121,992 100,000 80,000 60,000 53% 83,706 87,343 56% 55% 53% 40,000 20,000 47% 21,231 44% 20,008 47% 49% 44% 51% 56% 45% 4.5%4.5% 5.0% 4.5% 4.0% 3.5% 3.0% 2.5% 2009 2010 2011 2012 2013 2013 2014 35

A- A3 ALCO 36

37

www.citic.com201 350 II-1 38

36,235 34,364 (CPLDP) 2014 33 (YWCA) 39

2014 2013 3 46,685 41,291 (40,524) (36,295) 6,161 4,996 4 770 852 (1,747) (1,541) (2,608) (2,313) 388 599 3 5 2,964 2,593 3 1,428 1,582 3 651 145 5,043 4,320 (2,132) (1,362) 327 258 6 (1,805) (1,104) 3,238 3,216 7 (272) (266) 2,966 2,950 20 2,102 2,966 5,052 3 2,005 4,463 562 304 399 285 2,966 5,052 2,005 2,380 2,083 2,005 4,463 10 0.55 0.65 0.57 0.55 1.22 0.55 0.65 0.57 0.55 1.22 40

2014 2013 2,966 5,052 (4) 130 (4) 130 (228) 1,291 158 (73) (40) 36 (666) 1,012 (22) (206) (9) (798) 2,051 (802) 2,181 2,164 7,233 1,265 6,642 562 304 337 287 2,164 7,233 1,265 4,559 2,083 1,265 6,642 41

2014 2013 6 30 12 31 111,892 109,480 15,235 14,932 10,624 10,779 2,671 2,633 21,561 22,647 8,320 7,668 483 294 19,202 18,802 3,402 2,868 18 25 36 11 4,815 3,748 198,230 193,887 1,944 881 2,944 3,729 12 136 3,848 15,901 14,660 18 120 50 13 17,764 15,654 31,331 35,070 70,140 73,892 15 1,610 1,426 15 28,751 25,713 14 26,717 28,717 18 73 151 19 555 130 1,173 1,139 43 58,879 57,319 ` 11,261 16,573 209,491 210,460 15 91,376 93,591 3,993 3,918 18 2,910 2,546 19 2,438 2,092 100,717 102,147 108,774 108,313 42

2014 2013 6 30 12 31 9(a) 1,460 9(c) 36,533 9(c) 29 38,022 38,022 8 13,833 13,838 49,884 48,991 9(b) 374 912 102,113 101,763 6,661 6,550 108,774 108,313 43

2014 2013 3,238 3,216 2,104 (2,079) (1,760) 1,805 1,112 122 (38) (8) (5) 1,916 1,819 50 3 (8) (3) 435 554 11 13 (26) (1) (388) (599) (6) (30) (400) (2,055) (46) (362) 4,592 3,992 (1,184) 132 839 438 (1,042) 882 (225) (1,043) (26) (15) 2,954 4,386 (597) (672) 2,357 3,714 305 204 (2,770) (2,764) (7) 3 (137) (41) (252) 1,116 (1,644) (1,635) (1,896) (519) 44

2014 2013 (874) (45) (167) (3,873) (3,762) (36) (5) (510) (1,784) 144 139 3,470 773 45 126 (3,024) 265 4 29 (546) (741) (881) (617) (11) (773) 585 818 400 89 28 5 (4,124) (6,605) 22,094 24,557 (20,926) (22,815) (567) (230) (288) (144) (912) (1,095) 7,725 (599) 7,998 (6,619) 874 30,899 30,610 (140) 284 24,140 31,768 31,331 # 33,685 (6,732) (1,479) (459) (438) 24,140 31,768 # 45

1,460 36,533 29 13,838 10,438 39,465 101,763 6,550 108,313 562 2,005 2,567 399 2,966 (4) (4) (4) (4) (4) (4) (40) (40) (40) 158 158 158 (604) (604) (62) (666) (228) (228) (228) (22) (22) (22) (736) (736) (62) (798) (740) (740) (62) (802) 562 (740) 2,005 1,827 337 2,164 (211) (211) (912) (912) (912) (567) (567) (567) 6 6 5 11 (4) (4) (20) (24) (1) 1 (18) 18 9(a) 36,562 (36,533) (29) 36,562 (36,533) (29) (567) (17) (893) (1,477) (226) (1,703) 38,022 13,833 9,681 40,577 102,113 6,661 108,774 46

1,460 36,533 29 5,953 6,144 34,559 84,678 7,188 91,866 304 4,463 4,767 285 5,052 123 123 7 130 997 (997) 1,120 (997) 123 7 130 34 34 2 36 (73) (73) (73) 1,019 1,019 (7) 1,012 1,291 1,291 1,291 (206) (206) (206) (9) (9) (9) 2,056 2,056 (5) 2,051 3,176 (997) 2,179 2 2,181 304 3,176 3,466 6,946 287 7,233 (970) (970) 7,800 7,800 7,800 6 6 (141) (141) (1,095) (1,095) (1,095) (230) (230) (230) 7 7 6 13 (75) (75) (75) (10) (10) (9) (19) 12 12 (23) 23 7,570 (26) (1,147) 6,397 (1,096) 5,301 1,460 36,533 29 13,827 9,294 36,878 98,021 6,379 104,400 47

1 (a) 23 (b) 34 16 32 39 2 (i) 48

2 0.15% Sino Iron Sino Iron Sino Iron Sino Iron (ii) Sino Iron Pty LtdSino Iron Korean Steel Pty LtdKorean SteelMineralogy Pty LtdMineralogy(Mining Right and Site Lease Agreements) Mineralogy Mineralogy Mineralogy Mineralogy 49

2 Mineralogy Mineralogy Mineralogy Sino Iron Korean SteelMineralogy B B Mineralogy BMineralogyB Mineralogy B Sino Iron Korean Steel B Mineralogy Mineralogy Mineralogy B B B BSino Iron Korean SteelMineralogy 50

2 Mineralogy Mineralogy MineralogyMineralogy Mineralogy Mineralogy Mineralogy Mineralogy Mineralogy Mineralogy 51

3 (a) 21,848 475 1,743 103 10 412 22,094 46,685 1,420 (544) 412 484 (11) 283 797 40 (305) 388 2,964 (12) 62 928 140 160 150 1,428 23 268 8 8 344 651 24 103 9 3 9 179 327 (393) (930) (82) (131) (596) (2,132) 1,062 (1,474) 495 752 926 426 683 160 198 (722) 732 3,238 * (4) 4 81 (81) 1,058 (1,474) 499 833 926 426 602 160 198 (722) 732 3,238 (214) 407 (141) (21) (52) (47) (124) (3) (8) (69) (272) 844 (1,067) 358 812 874 379 478 160 195 (730) 663 2,966 773 (1,067) 345 812 874 309 236 160 195 (1,292) 660 2,005 562 562 71 13 70 242 3 399 844 (1,067) 358 812 874 379 478 160 195 (730) 663 2,966 1,301 107 107 15 1 2 260 3 1,796 18 6 3 5 32 1 62 25 88 50-50 * 52

3 (a) 20,471 130 1,138 147 7 405 18,936 57 41,291 523 41,814 1,407 (869) 300 122 19 279 706 9 21 599 2,593 2,071 4,664 128 (9) 903 131 9 312 94 14 1,582 1,582 38 13 5 6 83 145 33 178 19 1 99 12 1 10 116 258 258 (463) (608) (33) (1) (108) (1) (148) (1,362) (1,362) 1,129 (1,476) 357 135 933 411 622 312 108 (11) 696 3,216 2,104 5,320 * (4) (1) 5 81 (81) 1,125 (1,477) 362 216 933 411 541 312 108 (11) 696 3,216 2,104 5,320 (99) 423 (177) (17) (61) (46) (157) 12 (61) (83) (266) (2) (268) 1,026 (1,054) 185 199 872 365 384 312 120 (72) 613 2,950 2,102 5,052 967 (1,054) 218 199 872 297 217 312 120 (376) 608 2,380 2,083 4,463 304 304 304 59 (33) 68 167 5 266 19 285 1,026 (1,054) 185 199 872 365 384 312 120 (72) 613 2,950 2,102 5,052 1,206 102 101 7 2 248 3 1,669 25 1,694 17 8 11 5 41 41 2 60 22 84 84 1 2 3-3 * 53

3 (a) 2014 2013 35,450 31,402 5,779 5,495 5,456 4,394 46,685 41,291 (b) # 58,253 93,276 40,111 6,939 3,592 926 20,984 477 13,931 238,489 293 5,215 6,943 1,176 416 3,945 3,573 21,561 430 7,565 296 29 8,320 58,976 93,276 45,326 14,504 10,535 2,102 21,696 3,945 4,079 13,931 268,370 # (12,670) (5,719) (11,134) (277) (504) (130) (4,732) (28) (2,665) (37,859) (13,643) (29,513) (792) (7,382) (70,407) (121,737) 32,663 58,044 33,400 14,227 10,031 1,972 9,582 3,945 4,051 (59,141) 108,774 * 1,248 4,559 1,265 60 - - 532 - - 2 7,666 * # 54

3 (b) # 57,709 88,134 40,328 10,116 2,304 923 20,977 280 16,693 237,464 308 5,798 7,480 1,260 426 3,893 3,482 22,647 412 7,002 224 30 7,668 58,429 88,134 46,126 17,118 9,784 2,183 21,627 3,893 3,792 16,693 267,779 # (13,465) (5,249) (11,422) (702) (484) (123) (4,830) (26) (2,435) (38,736) (13,346) (30,379) (776) (7,424) (68,805) (120,730) 31,618 52,506 33,928 16,416 9,300 2,060 9,373 3,893 3,766 (54,547) 108,313 * 2,773 9,142 3,418 143 1 1,178 9 16,664 * # 55

4 2014 2013 401 431 8 5 409 436 (122) 38 400 46 362 30 7 16 361 416 770 852 5 2014 2013 35,765 32,282 1,916 1,794 163 81 (190) (153) 12 2 38 1 25 56

6 2014 2013 2,887 2,813 (840) (1,395) 2,047 1,418 109 76 (37) (2) 13 (130) 2,132 1,362 (327) (258) 1,805 1,104 7 16.5%16.5% 2014 2013 138 115 547 438 68 85 (481) (372) 272 266 4 (2) 2 57

8 9 (a) 0.46,000,000,000 622 62211 37 3,649,444,16023 21,253,879,470 24,903,323,630 (b) 2014 2013 0.25 0.30 912 1,095 0.015 0.10 374 365 24,903,323,6303,649,444,160 (c) 32 48B 49H 62211 37 9(a) 622 58

10 3,649,444,160 3,649,444,160 11 12 13 2014 6 30 2013 12 31 7,503 7,059 86 69 7,589 7,128 10,175 8,526 17,764 15,654 (i) (ii) (iii) (iv) 59

13 2014 6 30 2013 12 31 191 324 91 67 96 78 2014 6 30 378 469 2013 12 31 101 99 (1) 1 2 15 (7) (2) (7) 100 101 14 2014 6 30 2013 12 31 10,964 10,905 247 302 11,211 11,207 15,506 17,510 26,717 28,717 60

15 (a) 2014 6 30 2013 12 31 11,019 13,261 387 400 11,406 13,661 1,366 267 347 149 17,242 13,062 30,361 27,139 65,446 65,207 12,026 12,464 77,472 77,671 31,146 28,982 (17,242) (13,062) 91,376 93,591 121,737 120,730 108,977 107,717 12,760 13,013 121,737 120,730 61

15 (a) (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) (xv) CITIC Pacific Finance (2005) Limited 81.29% 6.9% 1 1 6.625%2 2 2.7% 11 6.875%3 3 5.23% 22 6.8%4 4 6.06% 33 6.375% 5 5 4.93% 44 5.9% 5.99% 62

15 (b) 2014 6 30 2013 12 31 17,242 13,062 17,571 22,030 16,319 15,184 26,340 27,395 77,472 77,671 1,133 483 11,172 11,820 18,841 16,679 31,146 28,982 108,618 106,653 (c) 2014 6 30 2013 12 31 121,737 120,730 (30,722) (28,587) (25,887) (24,871) 65,128 67,272 2014 6 30 2013 12 31 4.5% 4.5% (d) 63

15 (e) 2014 6 30 2013 12 31 19,309 20,577 87,044 83,223 14,116 15,677 1,268 1,253 121,737 120,730 2014 6 30 2013 12 31 9,877 10,196 13,791 10,632 23,668 20,828 16 ALCO 64

16 (a) 0.5% 0.5% 0.5% (301) 301 122 (122) 53 608 (52) (622) 0.5% 0.5% 0.5% (276) 276 157 (157) 61 618 (69) (630) 65

16 (b) () 66

16 (b) 2014 6 30 1% (51) (458) 1% 51 458 2% 169 2% (169) 15% 220 15% (220) 10% (64) 10% 64 10% (8) 10% 8 10% (6) 10% 6 2013 12 31 1% 14 (460) 1% (14) 460 2% 79 2% (79) 15% 246 15% (246) 10% (41) 10% 41 10% (8) 10% 8 10% (15) 10% 15 67

16 (c) 10% (d) ALCO 15 90 68

16 (e) (34,437) (21,927) (34,996) (54,911) (872) (725) (1,073) (704) (26,711) (6) (31,328) (25,827) (34,656) (57,262) (862) (792) (1,043) (78) (28,711) (6) 69

16 (e) (1,429) 1,471 (404) (649) 403 750 (1,735) 1,654 (504) (655) 500 736 70

16 Reval Inc.Reval Reval 15(d) (i) 13 71

16 (i) 2014 6 30 2013 12 31 193 193 200 200 276 276 81 81 100 100 80 80 45 45 6 6 2,980 2,980 2,600 2,600 3 3 97 97 81 165 30 276 81 3 (2) 82 72

16 (ii) 2014 6 30 2014 6 30 2013 12 31 90,339 88,392 88,392 91,494 88,982 24,052 27,260 27,260 24,039 23,808 1,512 1,577 1,577 1,526 1,607 252 265 265 254 254 5,582 5,864 5,864 3,417 3,601 (iii) (ISDA) ISDA 73

16 (iii) 100 100 45 (31) 14 145 (31) 114 (2,980) 31 (2,949) (3) (3) (2,983) 31 (2,952) 80 80 6 6 86 86 (2,600) (2,600) (97) (97) (2,697) (2,697) 74

17 2014 6 30 2013 12 31 121,737 120,730 31,331 35,070 90,406 85,660 102,113 101,763 192,519 187,423 47% 46% 30% 75

18 2014 6 30 2013 12 31 2,813 2,421 43 1 88 43 2,814 2,509 100 167 80 179 2 2 6 9 102 169 86 188 145 2,983 86 2,697 75 71 44 54 45 2 6 97 120 73 50 151 25 2,910 36 2,546 (i) (ii) 0.56% 5.10% 0.56% 5.10% (HIBOR) (LIBOR) 19 76

20 18.55% 2013 6 523 (507) 33 49 (2) 47 2,055 2,083 19 2,102 2,102 21 (i) (ii) Nippon Steel & Sumitomo Metal Corporation NSSMCSilver Wings Enterprises IncSilver Wings 25% Silver Wings Silver Wings 77

21 3,275 37 76 445 660 32 (80) (973) (6) (224) 3,242 10 (2,130) 206 (362) (12) 954 (48) 906 (32) 874 78

22 (a) 57.5% (i) (ii) 18 2014 6 30 2013 12 31 14,693 18,485 67,491 70,383 79

22 (a) (iii) Sino Iron Pty Ltd. Sino Iron Sino Iron Sino Iron Sino IronSino Iron Sino Iron 1% Sino Iron 2014 6 30 2013 12 31 Sino Iron 20% (546) 153 1,407 80

22 (a) (iii) Sino Iron Sino Iron Sino Iron Sino Iron Sino Iron 20% Sino Iron 20% Sino Iron 20% 2.13% 81

22 (b) 2014 6 30 2013 12 31 (i) 1,064 1,142 (ii) 683 693 (iii) 1,032 1,407 (iv) 137 42 (i) 5 7 (ii) 184 223 23 13.48 21,253,879,470 17,301,765,470 3,952,114,000 24,903,000,000 77.90% 82

40 82 2014 6 30 34 34 2410 2014 6 30 34 10 8 83

226,995,660,900 (i) 13.48 5,348,170,470 11,953,595,000(ii) 13.4827 3,952,114,000 53,357,554,905 57.508%77.9% 15% 25% 21.87% CITIC Pacific Limited CITIC Limited CITIC 00267 www.citic.com 84

1.510 183 22 (I) (i) 11,550,000 18.20 12,780,000 19.90 15,930,000 22.10 18,500,000 47.32 13,890,000 22.00 880,000 20.59 18.2019.9022.1047.32 200,000 85

A. 14 1 1 14 6 30 14 6 30 14 6 30 19.11.09 22.00 600,000 600,000 0.016 19.11.09 22.00 500,000 500,000 0.014 19.11.09 22.00 500,000 500,000 0.014 19.11.09 22.00 500,000 500,000 0.014 19.11.09 22.00 500,000 500,000 0.014 B. 14 1 1 14 6 30 14 6 30 19.11.09 22.00 6,710,000 6,710,000 14.01.10 20.59 400,000 400,000 C. 14 1 1 19.11.09 22.00 2,670,000 14.01.10 20.59 200,000 14 6 30 14 6 30 14 6 30 2,670,000 200,000 86

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A.6.7 3.10A 3.11 34 2410 13.51B(1) 93

EBITDA EBIT EBITDA EBITDA EBITDA 94

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