00623
2 3 2011 4 6 9 12 22 30 37 42 49 51 52 53 55 56 57 59 139
% 1,617,800 1,373,173 +18% 352,292 208,979 +69% 238,945 158,064 +51% 0.424 0.279 +52% 0.419 0.278 +51% 10.6 6.6 +61% 10.6 6.6 +61% % 1,605,435 1,378,316 +16% 18,613 9,875 +88% 39,255 18,467 +113% 638 (46,141) (33,485) +38% 1,617,800 1,373,173 +18% 1,851,158 1,284,248 1,018,875 849,140 2
19 15 1505 450 15D 18317 1712 1716 ipr www.sinomedia.com.hk 3
1 2 CCTV-5 CCTV-5 CCTV-5 Media Corp Pte Ltd Channel NewsAsia 4 5 6 7 IAI 2010 2011 IAI 2011 2011 2012 100TV 8 CNBC CNBC CNBC Asia Pacifi ccnbc 4
2011 9 2011 9 19 200 2011 9 200 15,000 65 11 201214 2011 2011 2012 12 4A 2011 12 94A 4A 2011 12 2012 2 5
2011 2 2010 2011 10 18 CTR 2011 2012 2 2010 ARC 2011 6 MerComm ARCMerComm1987 2010 LACP 50 20 2011 6 2011 6 2011 6 6
WWF 2011 6 2010 2011 6 APP 2011 6 2011 9 2011 9 2011 2011 2 2010 MBA 2011 9 MBA MBA 7
8
CCTV-1 CCTV- CCTV-2CCTV-4CCTV-5CCTV-7 CCTV-NEWS CNBC 2011 150 100TV 9
2011 11.2 150
CCTV-1 CCTVCCTV-2 CCTV-4CCTV-5CCTV-7CCTV-NEWS46 41,209CCTV-1 CCTV-1 CCTV 30CCTV-2CCTV-4 CCTV-5 CCTV-7 CCTV-NEWS 12
14 CNBC 1. 13
2. 150 3. 100TV 1. 100TV 100TV 14
100TV 2. 3. 4. 1,617,8001,373,173 18%(1) 15
(2)(3) 1,605,4351,378,316 16% 849,943552,619 54% 18,613 9,87588% 39,25518,467 113% 1. 2. 238,945158,064 51% 156,126 19,8139.7%9.9% 16
66,77867,493 4.1%4.9% (1)3,001 (2) 5,874 89,34868,820 20,528 1. 10,175 2. 4,892 14,060 18,952 71,2124.4% 4.0% 100TV 17
Life Media Limited Life Media Limited FF 2010 258 12 913,179 795,79115%97%3% 526,983504,392 74,811 1,851,158 1,018,8756,359 38015% 36,780,000 18
CPI CTR 13% GDP 9.2% CNNIC29 12 53.25 3.56 19
2012 14
2011 CNBC
45 (EMBA) 43 4AThe Association of Accredited Advertising Agencies of China 2008 2121 2009 MBA2009 20102010 2011 (EMBA) 22
44 23
49Bain Capital, LLC Bain Capital, LLC 51Bain Capital Asia, LLC Bain Capital Asia, LLC(GE) (Northwest University Kellogg School of Business) 48 24
47 48 25
44 (California University of Management and Sciences) 44 TCL (Monash University) 33 100200 26
41 CTR (EMBA) 48 MTV 27
201140 40 2011
2011 7 100TV
2227 30
1. 2. 3. 31
4. 5/5 5/5 5/5 5/5 3/5 2/5 5/5 5/5 1/5 4/5 32
5. 6. 122 1286 7. 33
B.1.1 34
1. 49 2. 3. 3,100 35
www.sinomedia.com.hk ir@sinomedia.com.hk 86-10-59180628 36
6040 402010 4A 2011 WWF 20032003 2006 4 37
2011 9 9 15092011 38
3802011 57 MBA 2011 39
2011 2011 2012
2011 80%
1915 150545015D 118 92% 99% 15% 5% 5155 42
238,945158,064 59 62,22417,786 10.68.6 6.6 10.68.6 6.6 17 24 10,218,000 105 43
XV(a)XV78 (b)352 (c) (i) 1 251,428,169 4,400,000 255,828,169 45.93% 2 251,428,165 251,428,165 45.14% 3 2,500,000 2,500,000 0.45% 600,000 600,000 0.11% 260,000 260,000 0.05% 200,000 200,000 0.04% 200,000 200,000 0.04% 1. 2. 251,428,169UMEDFS 2CLH CLH 203,941,513 3. 251,428,165MHSDFS 1CLH CLH203,941,513 44
(ii) CLH Holding Limited 100% 100% 100% 0.3% CLH Holding Limited 100% 100% 100% XV(a)XV 78 (b)352 (c) 36,780,0007% 45
3,200,000 3,200,000 1.56 2 1,200,000 1,200,000 1.84 4 1,600,000 1,600,000 1.56 1 900,000 900,000 1.84 4 600,000 600,000 1.84 4 260,000 260,000 1.49 3 200,000 200,000 1.49 3 200,000 200,000 2.62 4 9,608,000 (48,000) 9,560,000 1.56 1 200,000 200,000 1.49 3 16,640,000 (405,000) (1,115,000) 15,120,000 1.84 4 1,300,000 (800,000) 500,000 2.82 4 1,060,000 (160,000) 900,000 2.88 4 2,340,000 2,340,000 2.62 4 1. 36525% 25% 2. (1)36550% 25% 3. 25% 25% 4. 25% 25% 46
XV23 Equity Trustee Limited 1 298,914,821 53.66% CLH Holding Limited 2 203,941,513 36.61% Bain Capital CTVGB Holding L.P. 3 117,624,579 21.12% 1. Equity Trustee Limited CLHMHS Merger Holding Service Company Limited UME United Marine Enterprise Company Limited DFS 1 Digital Finance Service Company Limited DFS 2 SinoMedia Investment Ltd. 298,914,821 2. CLH Holding Limited CLH Holding Limited 203,941,513 3. Bain Capital CTVGB Holding L.P. Bain Capital CTVGB Holding Ltd. Bain Capital CTVGB Holding L.P. Bain Capital CTVGB Holding Ltd. 117,624,579 XV2 3 14A.31 14A.33 (i) 99.7% 60% 40% 47
30%10% 90% (ii) 58 972,099 972,099 ii(a)(b) (c) 14A.42(3) 14A 139 9 48
51 138 141 49
10 8 50
6 1,617,800 1,373,173 (1,116,620) (1,033,979) 501,180 339,194 7 7,238 6,098 (66,778) (67,493) (89,348) (68,820) 352,292 208,979 10 17,068 20,960 10 (728) (7,406) 16,340 13,554 (7,169) (584) 361,463 221,949 11 (119,132) (55,598) 242,331 166,351 238,945 158,064 3,386 8,287 242,331 166,351 16 0.424 0.279 0.419 0.278 59138 25(b) 51
242,331 166,351 (5,669) (1,270) (5,669) (1,270) 236,662 165,081 233,276 156,794 3,386 8,287 236,662 165,081 59138 52
17 56,229 54,601 17 3,899 230,000 19 47,722 6,000 20 30,447 21 3,643 8,748 371,940 69,349 22 566,039 419,108 23 913,179 795,791 1,479,218 1,214,899 1,851,158 1,284,248 24 171 174 1,018,704 848,966 1,018,875 849,140 6,359 6,904 1,025,234 856,044 20 14,245 13,657 21 4,041 14,245 17,698 26 742,860 369,185 11(c) 68,819 29,450 20 11,871 811,679 410,506 53
825,924 428,204 1,851,158 1,284,248 667,539 804,393 1,039,479 873,742 59138 54
18 223,515 210,854 19 34,846 20 6,609 264,970 210,854 22 272,803 319,199 23 20,701 33,550 293,504 352,749 558,474 563,603 24 171 174 25 556,028 552,442 556,199 552,616 2,275 10,987 2,275 10,987 2,275 10,987 558,474 563,603 291,229 341,762 556,199 552,616 59138 55
24) 25(c) 25(c) 25(c) 25(c) 25(c) 173 461,741 18 17,414 37,735 2,776 (11,151) 227,767 736,473 5,465 741,938 27 3,362 3,362 19 3,381 1,813 (35,436) (33,623) (6,867) (40,490) 25(b) (17,786) (17,786) (17,786) 17,482 (17,482) 1 6,665 (2,746) 3,920 3,920 (1,270) 158,064 156,794 8,287 165,081 174 468,406 18 18,030 55,217 1,506 (9,338) 315,127 849,140 6,904 856,044 27 4,645 4,645 4,645 (3) 3 (19,722) (19,722) (19,722) 5 9,842 3,301 13,143 (3,301) 9,842 25(b) (62,224) (62,224) (630) (62,854) 5,435 (5,435) 803 (186) 617 617 (5,669) 238,945 233,276 3,386 236,662 171 469,209 21 32,331 60,652 (4,163) (9,338) 469,992 1,018,875 6,359 1,025,234 59138 56
242,331 166,351 8 6,799 5,012 434 303 11(b) 119,132 55,598 18,952 10 579 7,373 10 (17,068) (20,889) 7,169 584 27 4,645 3,381 382,973 217,713 (151,899) 97,083 374,608 232,668 605,682 547,464 11(c) (78,699) (43,072) 526,983 504,392 10,589 3,835 377 755 (9,148) (3,571) (230,000) (51,880) (6,000) (38,952) (319,014) (4,981) 57
617 4,172 5(a) (3,583) (11,820) 24 (19,722) (62,224) (17,786) (84,912) (25,434) 123,057 473,977 795,791 323,084 (5,669) (1,270) 23 913,179 795,791 59138 58
1. 1915 1505 2. (a) (b) 4 (c) 59
2. (d) 31 (e) 24 19 1419 60
3. (a) (i) 61
3. (a) (i) 3(g) (ii) 62
3. (a) (iii) (b) (i) (ii) 63
3. (b) (ii) (c) (i) 64
3. (c) (i) 22 65
3. (c) (i) 3(g)(i) 3(b)(i) 3(g) (ii) 66
3. (c) (iii) (iv) 20 (d) (i) 67
3. (d) (i) (ii) (iii) 30 3 5 5 68
3. (e) (i) (ii) 30 (f) (i) (ii) (ii)(i) 69
3. (f) (g) (i) (ii) 70
3. (g) (ii) (iii) 71
3. (h) (i) (ii) (iii) 72
3. (h) (iv) (i) (j) 73
3. (k) (i) (ii) (iii) (iv) 74
3. (l) (m) (n) (o) 75
3. (o) 76
3. (p) (q) (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) 77
3. (q) (b) (v) (vi) (a) (vii) (a)(i) (r) 78
3. (s) 9 4. (a) 27 (b) (c) (d) 79
5. (a) (i) 99.7% 80% 20% 3,114,000 3,726,07310% 90% 80%90% 20,090 3,301 14,795 38,186 80
5. (b) (i) 1,000 (ii) 18 (iii) 100 6. 1,605,435 1,378,316 18,613 9,875 39,255 18,467 638 (46,141) (33,485) 1,617,800 1,373,173 81
7. (i) 6,675 5,982 563 116 7,238 6,098 (i) 8. (816) 13,244 18,952 6,799 5,012 3,219 2,397 3,100 2,800 6,514 3,477 9. 46,131 44,845 (i) 9,448 6,110 27 4,645 3,362 60,224 54,317 82
9. (i) 20% 22% 10. 9,610 4,813 20 7,458 16,076 71 17,068 20,960 20 (579) (7,373) (149) (33) (728) (7,406) 16,340 13,554 83
11. (a) 118,068 52,841 1,064 2,757 119,132 55,598 (i) (ii) 25% 24%22% 25% 84
11. (b) 361,463 221,949 90,577 48,920 10,020 6,424 16,896 1,726 47 (i) 2,192 (600) (1,472) 119,132 55,598 (i) 21(a) (c) 29,450 19,681 118,068 52,841 (78,699) (43,072) 68,819 29,450 85
12. 161 1,020 960 66 2,046 1,020 960 66 234 2,280 744 372 234 1,350 (i) (i) 117 117 124 15 139 124 19 143 (ii) 52 15 67 (ii) 73 24 97 373 2,784 2,292 132 658 6,239 (i) (ii) 86
12. 864 62 926 864 62 164 1,090 600 200 227 1,027 128 32 160 128 41 169 128 32 160 384 2,328 200 124 496 3,532 13 87
13. 12 4,160 3,929 139 192 623 630 4,922 4,751 1,000,000 1,000,0011,500,000 4 1,500,0012,000,000 3 14. 1,512.5 427.811,266.1 7,577.2 88
14. (15,125) (4,278) 112,661 75,772 25 97,536 71,494 25(b)(i) 15. 16. (a) 2.389451.58064 5.636495.65716 238,945 158,064 238,945 158,064 89
16. (a) 000 000 566,838 564,310 24 181 1,406 24 (3,370) 563,649 565,716 (b) 2.389451.58064 5.70921 5.69298 238,945 158,064 000 000 563,649 565,716 7,272 3,582 570,921 569,298 90
17. 50,162 3,457 12,912 66,531 66,531 1,005 2,604 3,609 3,609 (1,452) (1,452) (1,452) 50,162 4,462 14,064 68,688 68,688 50,162 4,462 14,064 68,688 68,688 2,221 6,927 9,148 3,988 13,136 (925) (2,927) (3,852) (3,852) 50,162 5,758 18,064 73,984 3,988 77,972 3,461 805 5,203 9,469 9,469 2,218 834 1,960 5,012 5,012 (394) (394) (394) 5,679 1,639 6,769 14,087 14,087 5,679 1,639 6,769 14,087 14,087 1,048 2,780 2,882 6,710 89 6,799 (922) (2,120) (3,042) (3,042) 6,727 3,497 7,531 17,755 89 17,844 44,483 2,823 7,295 54,601 54,601 43,435 2,261 10,533 56,229 3,899 60,128 91
18. 223,515 210,854 (i) 30,000,000 99.7% 99.7% (vii) (ii) 10,000,000 100% 100% (vi) (vii) 92
18. (iii) 2,000,000 99.7% 100% (vii) (iii) 3,000,000 99.7% 100% (vi) (vii) (iii) 28,000,000 89.7% 90% (vi) (vii) (iii) 3,000,000 99.7% 100% (vi) (vii) 93
18. (iii) 5,000,000 99.7% 100% (vi) (vii) (iii) 50,000,000 99.7% 100% (vii) (iii) 25,000,000 99.7% 100% (v) (vi) (vii) (iv) 1,000,000 99.7% 100% (vi) (vii) 94
95 18. (iii) (v) (vi) (vii) 10,000,000 99.7% 100% (i) (ii) (iii) (iv) (v) 5(b) (vi) (vii)
19. 34,846 47,722 6,000 47,722 6,000 34,846 (i) 18.9% 19% 5,000,000 (i) 37.9% 38% 5,000,000 96
19. 180,000 12.5% 12.5% (i) (a) 20% 81% (b) 38% 50038% 62% 97
19. (c) 6 12.5%20% 162,147 (41,079) (121,068) 109,867 (103,185) 6,682 10,285 (7,669) (2,616) (6,506) (6,506) 98
20. (a) Ftuan.com (i) (ii) 20,000 (iii) 381 381 (iv) 2,803 2,803 (v) 3,838 7,022 3,184 (vi) 3,425 3,425 30,447 6,609 99
20. (a) (i) Ftuan.com 5% Ftuan.com 100% Ftuan.com 18,952 18,952 Ftuan.com (18,952) (18,952) (ii) 5% (iii) (iv) (v) 10% (vi) 1.25% 100
20. (a) 2,989 2,989 7,458 3,620 10,447 6,609 (b) 10%5(a) 101
20. (b) 25,528 (i) (11,862) 579 14,245 (i) 10%5(a) 102
21. (a) (3,470) 2,315 (6,309) (7,464) (3,086) 1,726 4,117 2,757 (6,556) 4,041 (2,192) (4,707) (6,556) 4,041 (2,192) (4,707) 3,127 (4,041) 1,978 (i) 1,064 (3,429) (214) (3,643) (i) 219.2 103
21. (a) (3,643) (8,748) 4,041 (3,643) (4,707) (b) 48,149.1 32,331.44,814.9 1,616.6 104
22. 151,953 134,654 (58,216) (60,115) 93,737 74,539 272,387 318,163 93,737 74,539 272,387 318,163 465,381 334,546 2,398 3,804 291 905 4,687 5,240 125 131 (164) 979 566,039 419,108 272,803 319,199 105
22. (a) 69,816 71,923 23,137 6,682 4,066 2,132 1,348 1,365 1,365 56,868 56,868 54,684 54,684 82,137 58,216 62,731 60,115 151,953 58,216 134,654 60,115 31 106
22. (b) 60,115 46,871 (2,455) (919) 1,475 13,244 58,216 60,115 5,821.6 6,011.5 5,821.6 6,011.5 107
22. (c) 69,816 71,923 23,137 2,616 784 23,921 2,616 93,737 74,539 108
23. 913,179 795,791 20,701 33,550 884,321 762,241 13,026 32,444 12,217 32,444 8 9 8 9 15,824 1,097 8,476 1,097 913,179 795,791 20,701 33,550 109
24. (a) 1,800,000,000 562,500 1,800,000,000 562,500 566,838,400 177,137 564,310,400 176,347 405,000 126 2,528,000 790 (10,218,000) (3,193) 557,025,400 174,070 566,838,400 177,137 171,376 173,872 110
24. (b) 851,000 2.70 2.39 2,151 1,761 402,000 2.70 2.68 1,085 888 1,711,000 2.62 2.35 4,273 3,498 6,754,000 2.58 2.00 15,609 12,779 500,000 1.97 1.92 972 796 24,090 19,722 49H 3,1932,601 (c) (i) 365 25% 25% 14,360,0001.56 14,408,000 111
24. (c) (ii) 1.49 165,000 165,000 1.49 165,000 165,000 1.49 165,000 165,000 1.49 165,000 165,000 1.84 4,835,000 4,835,000 1.84 4,835,000 4,835,000 1.84 4,835,000 4,835,000 1.84 4,835,000 4,835,000 2.82 325,000 325,000 2.82 325,000 325,000 2.82 325,000 325,000 2.82 325,000 325,000 2.88 265,000 265,000 2.88 265,000 265,000 2.88 265,000 265,000 2.88 265,000 265,000 2.62 635,000 2.62 635,000 2.62 635,000 2.62 635,000 24,900,000 22,360,000 112
24. (c) (ii) 27 22,420,000 22,360,000 (iii) 4,286,9705(a) 27(c) 4,286,970 113
25. (a) 25(c) 25(c) 25(c) 461,741 18 17,414 (4,494) 33,247 507,926 27 3,362 3,362 6,665 (2,746) 3,919 (17,786) (17,786) (16,473) 71,494 55,021 468,406 18 18,030 (20,967) 86,955 552,442 468,406 18 18,030 (20,967) 86,955 552,442 27 14,487 14,487 803 (186) 617 3 (19,722) (19,719) (62,224) (62,224) (27,111) 97,536 70,425 469,209 21 32,331 (48,078) 102,545 556,028 114
25. (b) (i) 8.6 5.6 48,002 31,472 8.6 5.6 48,002 31,472 96,004 62,944 (ii) 62,224 17,786 630 62,854 17,786 7,482.30.831626,222.4 115
25. (c) (i) 48B49H (ii) 3(h)(iii) (iii) 10% 50% 25% (iv) 3(b) (v) 20 116
25. (c) (vi) 10,254.58,695.5 26. (i) 432,475 130,949 14,681 11,266 (ii) 11,726 18,801 8,301 6,548 646 16 467,829 167,580 (iii) 275,031 201,605 742,860 369,185 (i) 94,925 130,949 105,235 232,315 432,475 130,949 117
26. (ii) (iii) 30 27. (a) 0.1 3.2 3.2 (i) 4,400,000 8 3,472,000 8 3,584,000 8 2,904,000 8 118
27. (a) (ii) 1.56 14,408,000 1.56 17,920,000 1.56 1.56 2,528,000 1.56 48,000 1.56 984,000 14,360,000 14,408,000 14,304,000 11,456,000 1.56 3.5 119
27. (a) (iii) 2.31 1.56 34.39% 8 0.00% 4.17% 43.060.2 120
27. (b) (i) (1) 165,000 8 165,000 8 165,000 8 165,000 8 121
27. (b) (i) (2) 4,835,000 8 4,835,000 8 4,835,000 8 4,835,000 8 (3) 122
27. (b) (i) (3) 125,000 8 125,000 8 125,000 8 125,000 8 (4) 225,000 8 225,000 8 225,000 8 225,000 8 123
27. (b) (i) (5) 635,000 8 635,000 8 635,000 8 635,000 8 124
27. (b) (ii) 1.49 660,000 660,000 1.84 19,580,000 2.82 1,300,000 2.88 1,060,000 21,940,000 1.84 240,000 240,000 1.49 660,000 1.84 19,340,000 2.82 1,300,000 2.88 1,060,000 22,360,000 1.49 660,000 1.84 19,340,000 2.82 1,300,000 2.88 1,060,000 22,360,000 2.62 2,540,000 2,540,000 1.84 405,000 405,000 1.84 1,115,000 2.82 800,000 2.88 160,000 2,075,000 1.49 660,000 1.84 17,820,000 2.82 500,000 2.88 900,000 2.62 2,540,000 22,420,000 1.49 495,000 1.84 4,395,000 2.82 125,000 2.88 225,000 5,240,000 1.49 5.75 1.846.5 2.826.9 2.886.95 2.627.33 125
27. (b) (iii) 1.49 1.49 43.77% 8 2.49% 2.16% 1.74 1.84 46.17% 8 1.61% 2.09% 2.82 2.82 45.72% 8 1.30% 2.02% 2.88 2.88 45.70% 8 1.30% 2.16% 2.60 2.62 41.47% 8 2.94% 1.74% 421.5276 126
27. (c) 4,286,970 5(a) 27(c) 4,286,970 5 28. (a) 28,000 (b) 5,745 1,757 4,362 1,088 10,107 2,845 127
28. (b) 106,180 117,766 700 18,594 106,880 136,360 (c) 29. (a) (i) 972 972 (i) 97.2 128
29. (b) (i) 650 578 (ii) 750 700 (i) 65 (ii) 7570 (c) 1,974 1,646 20122013 129
29. (d) 5,581 3,036 658 496 6,239 3,532 9 30. (a) (i) 130
30. (a) (i) 90 2.63% 3.43%8.13%11.07% 22 30 (ii) 131
30. (b) * 467,829 467,829 467,829 15,513 15,513 14,245 * 167,580 167,580 167,580 12,064 15,652 27,716 25,528 * 132
30. (b) 2,275 2,275 2,275 10,987 10,987 10,987 133
30. (c) 1% (i) 983 1,036 416 1,036 13,034 32,453 12,225 32,453 13,026 32,444 12,217 32,444 8 9 8 9 (949) (1,285) (1,295) (1,285) 13,034 32,453 12,225 32,453 6.4618 6.7255 6.3009 6.6227 6.5616 6.4217 6.4093 6.7139 134
30. (c) (ii) 10% 1,303 10% 3,244 (10%) (1,303) (10%) (3,244) 10% 1 10% 1 (10%) (1) (10%) (1) 135
30. (d) (i) 7 20,000 20,000 2,803 2,803 381 381 3,838 3,838 3,425 3,425 136
30. (d) (i) 14,245 14,245 25,528 25,528 137
30. (d) (i) 20 (ii) 31. (a) 3(d) 3(g) 3(h) 3(o) 4 (b) 20 27 30 32. 33. 138
1,617,800 1,373,173 766,804 558,356 364,702 352,292 208,979 120,907 159,712 79,630 16,340 13,554 5,646 (7,159) (23,608) (7,169) (584) (259) (107) 361,463 221,949 126,294 152,446 56,022 (119,132) (55,598) (37,407) (31,343) (13,247) 242,331 166,351 88,887 121,103 42,775 238,945 158,064 97,245 120,800 42,316 3,386 8,287 (8,358) 303 459 242,331 166,351 88,887 121,103 42,775 56,229 54,601 57,062 54,182 48,266 3,899 230,000 47,722 6,000 584 843 30,447 11,031 3,643 8,748 9,779 6,350 3,268 667,539 804,393 683,952 617,976 338,087 1,039,479 873,742 762,408 679,351 389,621 (4,041) (2,315) (1,286) (14,245) (13,657) (18,155) 1,025,234 856,044 741,938 678,065 389,621 139
171 174 173 173 137 1,018,704 848,966 736,300 670,473 388,556 1,018,875 849,140 736,473 670,646 388,693 6,359 6,904 5,465 7,419 928 1,025,234 856,044 741,938 678,065 389,621 0.424 0.279 0.172 0.243 0.098 0.419 0.278 0.172 0.243 0.096 140
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