2 4 5 9 11 14 32 40 67 69 82 83 85 86 87 89 90 200 1

306 72 89 51.3% 24115 32,791,713 1,250,609 11.9% 139399,237 40 120 74 12 1752 2

51% 49% 29 400 16.23% 50% 3

4 1 3 300461 183 49 CEO ** * ** * ** H 183 18 1806-1807 http://www.chinacosco.com

1 2 3 4 JR 500 50019 50 9,449 (Green Flag) 2,0001,352 500 Forbes 2,000 5

10% 5 6 6 CKYHCKYH (IACMR) (Distinguished CEO Award) 8 5,100 8 100 30% 3 20% 5 600,082 6

7 8 9 50 10025 1 71.43% 6 Reliance A.P.A.P. 33.9% 59% (AAA-) AAA MerComm, Inc. 20ARC 30 7

10 11 12 15 5 4 H 51% Europe Container Terminals B.V. Maasvlakte Euromax IR Magazine 8

50,993,950 47,966,347 6.3% 3,356,443 7,064,945-52.5% 4,092,149 7,679,136-46.7% 2,031,016 5,582,059-63.6% 0.32989 1.08728-69.7% 0.09 0.13-30.8% * 29.7% 29.8% 55,460,140 56,013,489-1% 27,983,432 29,088,401-3.8% 8,541,404 7,472,397 14.3% 18,935,304 19,452,691-2.7% 26.6% 25.3% 9.8% 19.1% * 9

10

10.7% 17,610 23.8% 51% 2004 2006 A A 50,993,950,000 6.3% 2,031,016,000 63.6% 11

12 0.0929.7% 1.00 101.5 40,033,474,000 5.6% 5,111,338 12.7% 8 5,086 7 139 399,237 CKYH 32,791,71325.7% 115 69.3 200510.9% 200611.9% 1,250,609 96.2%

2006 H ARC 13

14

50,993,950,000 47,966,347,000 6.3% 4,092,149,0002005 7,679,136,000 46.7% 2,031,016,000 63.6% 5,111,338 12.7% 40,033,474,000 5.6% 15

1,303,027 1,183,899 10.1 1,208,507 1,002,561 20.5 1,500,873 1,392,828 7.8 256,513 240,873 6.5 842,418 714,449 17.9 5,111,338 4,534,610 12.7 13,373,828 12,527,188 6.8 9,743,126 9,154,183 6.4 5,958,387 5,935,908 0.4 2,507,890 2,573,389 (-2.6) 1,575,506 1,433,004 9.9 33,158,737 31,623,672 4.9 297,346 288,193 3.18 6,577,391 6,008,372 9.5 40,033,474 37,920,237 5.6 16

7 2 8,204 5 9,449 85,086 2 3,534 2 4,506 26166,320 139399,237 23.8% CKYH 7 8,000 82 5 1 17

GKA 2006 25.7% 32,791,713 2006 15115 54,900,000 61,000,000 18

2006 2006 2005 2006 12 31 13,431,338 9,370,361 43.3% 6,770,003 5,443,086 24.4% 744,276 605,791 22.9% 2,885,276 2,467,465 16.9% 421,068 132,984 216.6% 1,773,141 87,462 1,927.3% 837,574 633,573 32.2% 7,732,423 6,831,502 13.2% 3,703,460 3,646,732 1.6% 2,650,007 2,471,840 7.2% 455,946 377,121 20.9% 222,912 157,123 41.9% 700,098 178,686 291.8% 10,400,888 9,196,652 13.1% 1,688,697 1,841,193-8.3% 8,470,919 7,355,459 15.2% 241,272 1,227,064 681,097 80.2% 627,894 611,013 2.8% Antwerp Gateway NV 599,170 70,084 754.9% 29,875,952 23,557,322 26.8% 32,791,713 26,079,612 25.7% 19

20 2006 93,000,000 23% 29,875,952 26.8% 43.3% 13,431,338 6,770,003 13.2% 7,732,432 291.8% 700,098 13.1% 10,400,888 15.2% 8,470,919 8.3% 4 8,000 80.2% 1,227,064 2.8% 627,894 2005 9 2006599,170 754.9% 2006 3 2006 30%3 2008 10%20% 30% 5 20% 16 6 71.4%4

2005 12 20% 2006 12 268,236 1,090,000 24.6% 200510.9% 200611.9% 2006 12 31 256270 2006 6 600,082 869,203,000 2006 12 51% 49% 2006 12 31 1,250,609 19.9%2006 95.5%96.2% 91.8% 21

2006 10,166,985,000200515.3% 2006 2006 2005 30,720 23,290 31.9% 562,484 90,000 525.0% 766.4 567.9 35.0% 135,087 134,780 0.2% 129,280 102,410 26.2% 1,915,987 1,632,242 17.4% 103,046 90,796 13.5% 22

2006 40(RDC) 2006 3,072 200531.9% 11 2006 562,4842005525% 2006 500 PTA RELIANCE 2006 7.66 200535% PENAVICO 50% 2006 135,087 20050.2% 20061,915,987 200517.4%12,928 200526.2% 2006 103,046 200513.5% (TMT) 2006 TMT 23

RF RFID TMT 2006 24.1% 524,501,000 20% 101,823,000 27.4% 2006 2006 16.23% 20% 22.5% 2006 2005 460,003,000 43,588,000 50,993,950,000 47,966,347,000 3,027,603,0006.3% (I) 40,033,474,000 37,920,237,000 24

(II) 5.6% 33,456,083,000 31,911,865,000 4.8% 12.7% 11.7% (III) 1,796,815,000 2005 20.6% 2006 6600,082 2007 46.8% 232,468,000 2006 9 46,752,000 17 200520.4% 119,911,000 (IV) 10,166,985,000 15.3% 58.9% 2,234,140,000 25

46,019,733,000 38,819,904,000 7,199,829,000 18.5% (I) 35,765,842,000 29,693,808,000 20.4% 9,253,259,000 6,509,218,000 42.2% 44% 34% 37.1% 4,993,383,000 4,084,148,000 22.3% 14,898,710,000 20.1% 6,241,249,000 6,341,762,000 1.6% 26

27 (II) 2006 121,083,000 2005 32.6% 2006 9 20.9% (III) 673,176,000 21.5% (IV) 9,459,632,0002005 15.7% 2,980,384,0002.4% 2,910,327,000 1,732,260,000 833,374,000 92.7% 290,807,000 672,980,000 121,449,000 169,265,000 439,707,000

28 274,354,00033% 877,462,000110,983,000 988,445,000 12.6% 626,002,000 567,253,000 10.4% 291.8%700,098 22.9% 744,276 24.4% 6,770,003 823,795,000 718,076,000 14.7% 10% 55% 123,027,000 Antwerp Gateway NV 70,084 599,170 733,101,000 923,983,000 1,646,171,000 6,341,547,000 4,695,376,000 3,935,023,000 4,303,479,00052.2%

29 2,031,056,000 4,914,715,00051% 503,890,000 7,327,663,000 983,092,000 5,775,457,000 15,560,960,000 3,435,965,000 12,235,166,000 1,500,000,000 7,795,855,000 9,969,650,000 2,173,795,000 21.8% H 523,887,000 55,460,140,000 56,013,489,000 553,349,000 27,983,432,000 29,088,401,000 18,935,304,000 19,452,691,000517,387,000 15,106,560,000 16,783,674,000 857,628,000 2,486,497,000 51% 1,679,636,000 26.6% 25.3%5.5 10.2 8,468,780,000

14,875,047,0006,138,557,000 10,631,675,000 32.1% 51.1% 4,825,817 2,217,308 1,333,535 2,196,863 2,565,052 2,246,890 2,375,658 5,359,536 4,006,498 4,763,077 10,280,743 14,566,366 15,106,560 16,783,674 15,106,560,000 16,783,674,000 1,677,114,000 10,780,926,000 4,325,634,000 71.4% 28.6% 6,138,557,000 8,968,003,000 40.6% 59.4% 30

197,591,000 176,899,000 38 31

57 CEO 1967 1998 19972000 2005 2005 340 1993 19992005CCTV 2002 11 571999 2002 20032005 19992005 330 2003 32

57 1975 1998 1997 2003 20042006 12 600428 2005 3 30 1995 50 19892000 1997 2004 2 AB 0000392000392005 32010 33

49197519992006 11 20002005 6004282005 330 1 53 197720002006 11 2007 30 1 48 1982 2000 200020022004 2 2005 320 1 34

71 81 1966 1973 Tan Sri19992002 Connecticut Maritime Association Commodore Award 2006 65 19942005 19972004 1620 35

57 48 19762003 20042000 20032005 1998 2005 330 52197219972002 2005 330 36

442007 2A 2006 3 4919802001 / 2005 320 2001 52 2005 6 1994 41 2005 6 10 37

4719822002 2005 2007 1 2005 320 4419832002 4819802007 1 30 38

5219741998 2003 2005 3 30 55 19762002 2005 3 30 39

41 86 0.09 1.00 101.5 8,817,797,000 30% 30% 21 40

21 6,347,085,000 6 7 23(b) CEO 41

A 3.13 32 39 42

14A (a) 43,400,000 (b) 425,650,000 34 36 45,584,000 43

(c) 51% 1,679,635,632 (d) 59,000 (e) 285,000 (f) 44

(g) Win Hanverky Investments LimitedWH Investments WH Investments51% 49% 17 (i)171,081,966.699,800,000(ii) (iii)(iv) 14A (i) 179185 (ii)171 181 45

1. 460,000 440,538 2. 204,000 196,664 3. 3,000,000 600,708 3,000,000 776,800 4. 1 8,000,000 6,423,409 5. 365,000 262,397 6. 603,000 348,580 7. 1,320,000 733,614 8. 1,760,000 1,084,945 9. 750,000 572,117 10. 100,000 48,085 11. 90,000 74,957 12. 3 57,589 56,488 13. 31,828 22,684 14. 24,207 1,663 46

1 5,800,000,000 8,000,000,000 2 400,000,0003,000,000,000 3 51,865,0006,642,00057,589,0007,375,000 40 12 14 (1) (2) (3) 12 14(1) (2) (3) 47

14.38 4400 12 14 (1) (2) (3) (4) 14A.38 4400 12 14 (1) (2)(3) (4) 38 48

43 20 XV23 336 H H % % % Temasek Holdings 306,741,500 13.67 (1) (Private) Limited Temasek Capital 306,741,500 13.67 (1) (Private) Limited Seletar Investments 306,741,500 13.67 (1) Pte Ltd 49

H H % % % Singapex Investments 272,536,000 12.15 (2) Pte Ltd Discretionary trusts 275,294,000 12.27 (3) Li Ka-Shing Unity 275,294,000 12.27 (3) Trustee Company LimitedTUT1 Li Ka-Shing Unity 275,294,000 12.27 (3) Corporation Company LimitedTDT1 Li Ka-Shing 275,294,000 12.27 (3) Unity Trustcorp LimitedTDT2 275,294,000 12.27 (3) 275,294,000 12.27 (3) 275,294,000 12.27 (3) 275,294,000 12.27 (3) 50

H H % % % Cactus Holdings 275,294,000 12.27 (3) LimitedCactus Northpier Enterprises 137,647,000 6.13 (3) LimitedNorthpier Vember Lord Limited 137,647,000 6.13 (3) Vember Lord Yanter Services Limited 137,647,000 6.13 (3) Yanter Rhine Office Investments 137,647,000 6.13 (3) LimitedRhine Office 135,511,640 6.04 4,465,000 0.20 (4) AllianceBernstein L.P. 112,777,000 5.03 (5) (1) 306,741,500 (a) Singapex Investments Pte Ltd (Temasek Holdings (Private) Limited Temasek Capital (Private) Limited Seletar Investments Pte Ltd272,536,000 (b) Aranda Investments Pte Ltd (Temasek Holdings (Private) Limited Temasek Capital (Private) Limited Seletar Investments Pte Ltd34,205,500 Temasek Holdings (Private) Limited Temasek Capital (Private) Limited Seletar Investment Pte Ltd 51

(2) (1)(a)Singapex Investments Pte Ltd272,536,000 (3) 275,294,000Vember Lord Rhine Office 137,647,000 Li Ka-Shing Unity Holdings LimitedUnity Holdings TUT1 Unity HoldingsTUT1 The Li Ka-Shing Unity TrustUT1 TUT1UT1 Unity HoldingsTDT1Li Ka-Shing Unity Discretionary TrustDT1TDT2 DT2 TDT1 TDT12UT1 Cactus Cactus Yanter Northpier Rhine Office Vember Lord DT1 DT2TDT1 TDT2 TUT1 Cactus Yanter Northpier Rhine Office Vember Lord (4) 135,511,640 (a) 38,868,140 (b) 13,339,500 (c) 83,304,000UBS Global Asset Management (UK) Ltd. UBS Fund Management (Switzerland) AG UBS Fund Services (Luxembourg) SA UBS Global Asset Management (Americas) Inc. UBS Global Asset Management (Hong Kong) Limited UBS Global Asset Management (Singapore) Limited UBS Global Asset Management (Japan) Ltd. UBS Securities LLC4,465,500 (5) 112,777,000 AllianceBernstein L.P. AllianceBernstein Investment Management Australia Limited AllianceBernstein Limited 52

XV2 3 336 % % % 3,960,756,337 63.83 XV2 3 336 10% 3,960,756,33763.83% 19 6,204,756,337 2,244,000,000H 36.17% 53

3.195 9 3 3.588 8 38 36,800,000 H H 0.3% H 3.195 900,000 900,000 0.04% (1) 3,588 900,000 900,000 0.04% (2) 3.195 800,000 800,000 0.04% (1) 3,588 800,000 800,000 0.04% (2) 3.195 700,000 700,000 0.03% (1) 3,588 700,000 700,000 0.03% (2) 3.195 600,000 600,000 0.03% (1) 3,588 600,000 600,000 0.03% (2) 3.195 600,000 600,000 0.03% (1) 3,588 600,000 600,000 0.03% (2) 54

H (4) 3.195 600,000 600,000 0.03% (1) 3.588 600,000 600,000 0.03% (2) (4) 3.195 600,000 600,000 0.03% (1) 3.588 600,000 600,000 0.03% (2) (4) 3.195 600,000 600,000 0.03% (1) 3.588 600,000 600,000 0.03% (2) (4) 3.195 600,000 600,000 0.03% (1) 3.195 600,000 600,000 0.03% (1) 3.588 600,000 600,000 0.03% (2) 3.195 500,000 500,000 0.02% (1) 3.588 500,000 500,000 0.02% (2) 3.195 300,000 300,000 0.01% (1) 3.588 300,000 300,000 0.01% (2) (1) H 25% 50% 75% 100% 3.195 (2) H 25% 50% 75% 100% 3.588 (3) (4) 55

(i) 8.80 900,000 (600,000 ) 300,000 0.013% (1), (3) 8.80 254,000 (232,000 ) 22,000 0.001% (1), (2), (3) 1,154,000 (832,000 ) 322,000 (1) (a) 20% (b) 20% (2) (3) 16.87 (4) 56

(ii) 9.54 500,000 (100,000 ) 400,000 0.02% (1), (3) 13.75 1,000,000 1,000,000 0.05% (2), (3) 9.54 400,000 (100,000 ) 300,000 0.01% (1), (3) 13.75 1,000,000 1,000,000 0.05% (2), (3) 9.54 400,000 (100,000 ) 300,000 0.01% (1), (3) 13.75 1,000,000 1,000,000 0.05% (2), (3) 9.54 400,000 (100,000 ) 300,000 0.01% (1), (3) 13.75 1,000,000 1,000,000 0.05% (2), (3) 9.54 400,000 (100,000 ) 300,000 0.01% (1), (3) 13.75 1,000,000 1,000,000 0.05% (2), (3) (7) 9.54 400,000 (400,000 ) N/A (1), (3) 13.75 1,000,000 (500,000 ) 500,000 0.02% (2), (3) 57

(ii) (7) 9.54 400,000 (100,000 ) 300,000 0.01% (1), (3) 13.75 1,000,000 1,000,000 0.05% (2), (3) (7) 9.54 400,000 (400,000 ) (2), (3) 13.75 1,000,000 (1,000,000 ) (2), (3) (7) 13.75 1,000,000 (1,000,000 ) (2), (3) 9.54 400,000 (100,000 ) 300,000 0.01% (1), (3) 13.75 1,000,000 1,000,000 0.05% (2), (3) (5) 9.54 8,898,000 (4,020,000 ) 4,878,000 0.20% 1 (1), (3) 13.75 47,844,000 (20,866,000 ) (20,000 ) 26,958,000 1.21% 2 (2), (3) 70,442,000 (28,886,000 ) (20,000 ) 41,536,000 58

(1) 9.54 (2) 13.75 (3) (4) 17.03 (5) (6) (7) 59

XV352 (a) H H 50,000 0.002% (b) 50,000 0.002% 1,900,000 0.086% 1,300,000 0.059% 1,400,000 0.063% (c) 60

(d) 9.54 500,000 (100,000 ) 400,000 0.02% (1) 13.75 1,000,000 1,000,000 0.05% (2) 9.54 400,000 (100,000 ) 300,000 0.01% (1) 13.75 1,000,000 1,000,000 0.05% (2) 9.54 400,000 (100,000 ) 300,000 0.01% (2) 13.75 1,000,000 1,000,000 0.05% (2) 9.54 400,000 (100,000 ) 300,000 0.01% (1) 13.75 1,000,000 1,000,000 0.05% (2) 9.54 400,000 (100,000 ) 300,000 0.01% (1) 13.75 1,000,000 1,000,000 0.05% (2) 9.54 400,000 (100,000 ) 300,000 0.01% (1) 13.75 1,000,000 1,000,000 0.05% (2) (8) 9.54 400,000 (400,000 ) (1) 13.75 1,000,000 (500,000 ) 500,000 0.02% (2) (8) 9.54 400,000 (100,000 ) 300,000 0.01% (1) 13.75 1,000,000 1,000,000 0.05% (2) (8) 9.54 400,000 (400,000 ) (1) 13.75 1,000,000 (1,000,000 ) (2) (8) 13.57 1,000,000 (1,000,000 ) (2) 61

(d) 0.57 1,800,000 1,800,000 0.13% (3), (4) 1.37 1,200,000 1,200,000 0.08% (3), (5) 0.57 1,800,000 1,800,000 0.13% (3), (4) 1.37 1,200,000 1,200,000 0.08% (3), (5) 0.57 1,800,000 1,800,000 0.13% (3), (4) 1.37 1,200,000 1,200,000 0.08% (3), (5) 0.807 900,000 (900,000 ) (6) 1.23 1,100,000 1,100,000 0.05% (7) 0.807 600,000 (600,000 ) (6) 1.23 700,000 700,000 0.03% (7) 0.807 600,000 (600,000 ) (6) 1.23 700,000 700,000 0.03% (7) 62

(d) (1) 9.54 (2) 13.75 (3) (4) 0.57 (5) 1.37 (6) 10.20 2 0.10 1.6140.807 (7) 1.23 (8) XV XV78 352 63

13.22 13.22 5,031,692 589,877 1,568,167 3,160,274 893,128 592,454 300,674 893,128 729,059,000 36 64

7281 7281 18,351 3,074,200,000 65

5,334,000 66

1. 2. 51%A 67

3. 4. 68

23 69

12 12/12 12/12 10/122 * 11/121 8/124 * 9/122 * 9/122 11/121 * 8/8 * 11/121 11/121 12/12 10/122 70

CEO CEO 3.10 3.13 71

72

(1) 3A 2006 3/3 3/3 3/3 73

(2) 5 2006 4/51 5/5 5/5 (3) 3.21 74

2006 3/3 3/3 3/3 3 2007 1 223 25 2006 75

(4) 3 2006 3/3 3/3 3/3 76

(5) (6) 77

28,186,0008,947,00010,928,000 COSO COSO COSO (1) 2006 COSO 78

(2) (3) 79

(4) 2006 5 (www.chinacosco.com) 80

(www.chinacosco.com) 81

83 199 82

...... 6 26,401,135 29,087,099... 7 20,961 22,243... 8 353,581 226,227... 9 128,819 177,201... 11 2,546,150 2,153,904... 12 5,298,689 4,373,647... 13 3,128,903 2,266,936... 14 124,342 100,733... 15 23,340 30,241... 16 96,632 239,988 38,122,552 38,678,219... 17 601,542 544,630... 18 8,924,415 6,804,782... 15 11,257 10,355... 19 4,519 5,853... 16 7,795,855 9,969,650 17,337,588 17,335,270 55,460,140 56,013,489 83

...... 20, 21 6,204,756 6,140,000... 21 11,241,407 12,514,491... 21 1,489,141 798,200 18,935,304 19,452,691 8,541,404 7,472,397 27,476,708 26,925,088...... 22 8,947,208 12,369,503... 23 316,691 260,637... 19 36,071 16,199... 14 488,246 735,661 9,788,216 13,382,000... 24 11,370,365 10,394,104... 19 430,892... 25 4,825,817 2,217,308... 22 1,333,535 2,196,863... 234,607 898,126 18,195,216 15,706,401 27,983,432 29,088,401 55,460,140 56,013,489 (857,628) 1,628,869 37,264,924 40,307,088 84

...... 6 5,877 6,219... 9 92 119... 10 8,586,288 6,868,438... 14 2,381 8,594,638 6,874,776... 18 316,428 355,033... 10 7,810,772 10,761,230... 16 631,847 2,262,888 8,759,047 13,379,151 17,353,685 20,253,927... 20 6,204,756 6,140,000... 21 5,570,419 7,519,336... 21 1,489,141 798,200 13,264,316 14,457,536...... 24 1,300,877 1,138,649... 10 514,189 4,411,050... 25 2,273,700 242,106... 603 4,586 4,089,369 5,796,391 4,089,369 5,796,391 17,353,685 20,253,927 4,669,678 7,582,760 13,264,316 14,457,536 85

5 50,993,950 47,966,347... 27 (46,019,733) (38,819,904) 4,974,217 9,146,443... 26 2,467,305 1,348,557... 27 (2,910,327) (2,980,384)... 27 (735,045) (449,671)... 28 (439,707)... 29 3,356,443 7,064,945... 30 274,354 206,324... 30 (988,445) (877,462) 2,642,352 6,393,807...... 11 626,002 567,253... 12 823,795 718,076 4,092,149 7,679,136... 31 (923,983) (733,101) 3,168,166 6,946,035... 32 2,031,016 5,582,059... 1,137,150 1,363,976 3,168,166 6,946,035 33(a) 1,816,824 3,952,695 33(b) 1,489,141 798,200... 34 0.32989 1.08728 34 0.32989 1.08069 86

... 37(a) 3,227,861 6,535,779... 260,993 183,236... 21,168... (1,842,683) (398,636) 1,646,171 6,341,547... (4,914,715) (6,058,554)... (142,631) (48,045)... (37,702) (68,584)... (681,587) (418,263)... (82,602) (159,640)... 7,327,663 495,453... 6,763... 577 264... 146... 70,973 19,829... 64,384 652,791... (467,791) (312,396)... 271,783 157,325... 51% (503,890)... 517,640 456,378... 368,459 301,574... 96,993 155,371... (2,891,595)... 143,356 (105,905) 2,031,056 (7,817,234) 87

37(c)... 12,235,166 6,342,689... (15,560,960) (6,757,078)... 14,472... (9,105)... 399,148 179,901... (2,686,134) (2,166,623)... (749,831) (766,669)... 28,321 3,989... (880,974) (812,197)... (27,949) (36,869)... H 9,232,683... (32,244)... 1,500,000... (414,886) (5,775,457) 4,810,307 (2,098,230) 3,334,620... 9,969,650 6,730,788... (75,565) (95,758) 16 7,795,855 9,969,650 88

721,130 124,330... 28,406 12,782... (419,183) (529,725)... 2(a)(i) (3,363) 326,990 (392,613)... 3,168,166 6,946,035 3,495,156 6,553,422 2,174,511 5,267,083... 1,320,645 1,286,339... 3,495,156 6,553,422 89

1 1 3 H H 2(b)(i) 21(g) 40 2 (a) 5 857,628,000 7,996,000,000 4 90

2 (a) (i) 19 21 39 39 4 39 4 19 19 5,971,000 3,363,000 5,676,0002,313,000 4 39 39 4 39 (i)(ii) 37 12(f) 91

2 (a) (ii) 7 1 8 9 10 (b) (i) 92

2 (b) (i) (ii) 2(b)(i) (iii) 93

2 (b) (iv) 20% 50% 94

2 (c) (i) (ii) (iii) (1) (2) (3) 95

2 (c) (iii) (d) (i) (ii) 2512 15 (iii) 2550 510 35 96

2 (d) (iii) (e) (f) 2550 (g) (i) 97

2 (g) (ii) 5 5 (h) 98

2 (i) (i) (1) (2) (ii) (1) 2(d) 2(w)(iii) (2) 2(w)(iii) 99

2 (j) (a) (b) 12 100

2 (k) (a) (b) 12 12 (a) 101

2 (k) (b) (c) 102

2 (l) (m) (n) (o) (p) 103

2 (q) (r) (s) (i) (ii) 104

2 (s) (iii) (iv) 105

2 (s) (v) (vi) (vii) 106

2 (t) (u) (v) 107

2 (v) (w) (i) (ii) (iii) (iv) (v) 108

2 (w) (vi) (vii) (viii) (x) (y) (z) (i)(ii) (aa) 109

3 (a) (i) (1) (2) (ii) (iii) 110

3 (a) (iv) (v) 111

4 (i) 2(h) () 10% 10% 9,144,000 (ii) 10% 161,086,000 222,948,000 10%43,977,000 43,977,000 (iii) 10% 304,423,000304,227,000 112

4 (iv) 10%152,116,000 152,116,000 (v) (vi) 10% 30,455,00030,455,000 14 275,337,000 113

5 a 39,999,174 37,864,210 174,935 106,378 b 707,428 1,227,429 10,112,413 8,768,330 50,993,950 47,966,347 (a) (b) 297,346,000 288,193,000 703,507 1,223,072 3,921 4,357 707,428 1,227,429 (c) 114

5 (c) 39,999,174 174,935 707,428 10,112,413 50,993,950 34,300 57,533 1,089,387 54,572 (1,235,792 ) 40,033,474 232,468 1,796,815 10,166,985 (1,235,792 ) 50,993,950 1,564,866 208,871 1,112,074 204,010 48,651 3,138,472 26(a) 672,980 672,980 (439,707) (439,707 ) 274,354 (988,445 ) 205,173 (220,475 ) 2,642,352 4,581 460,888 89,761 70,772 626,002 12,221 147,714 70,574 593,286 823,795 4,092,149 (923,983 ) 3,168,166 26,075,211 1,703,788 9,044,085 5,770,459 726 (295,503 ) 42,298,766 34,450 1,949,201 367,791 194,708 2,546,150 33,300 1,475,209 316,929 3,473,251 5,298,689 8,890 2,873,601 179,343 67,069 3,128,903 2,187,632 55,460,140 14,264,520 1,755,989 2,665,195 3,920,760 738,883 (295,503 ) 23,049,844 4,933,588 27,983,432 992,691 22,950 708,585 107,663 4,606 1,836,495 1,373,562 1,068,103 3,852,949 213,402 19,402 6,527,418 (67,990 ) (4,130 ) (72,120 ) 6,561 127 10,909 17,597 7,112 1,650 30,950 1,857 41,569 115

5 (c) 37,864,210 106,378 1,227,429 8,768,330 47,966,347 56,027 51,973 1,035,547 48,904 (1,192,451 ) 37,920,237 158,351 2,262,976 8,817,234 (1,192,451 ) 47,966,347 5,045,256 208,955 1,278,403 179,890 4,463 6,716,967 26(c) 512,117 512,117 206,324 (877,462 ) 108,151 (272,290 ) 6,393,807 4,242 449,012 88,775 25,224 567,253 5,567 136,427 56,159 519,923 718,076 7,679,136 (733,101 ) 6,946,035 26,123,789 422,903 12,622,708 5,146,500 113 (287,838 ) 44,028,175 8,297 1,624,257 374,149 147,201 2,153,904 24,955 970,232 257,093 3,121,367 4,373,647 8,945 2,134,744 33,894 89,353 2,266,936 3,190,827 56,013,489 15,146,697 1,030,500 4,665,640 3,343,637 443,861 (287,838 ) 24,342,497 4,745,904 29,088,401 908,597 10,753 886,338 114,500 3,905 1,924,093 2,989,311 35,791 2,749,623 261,969 7,287 6,043,981 (62,384 ) (117 ) (1,702 ) (64,203 ) 15,897 11,376 2,841 30,114 8,527 1,900 16,117 1,833 28,377 116

5 (d) 14 13,375,881 12,527,189 10,075,897 9,524,198 6,621,046 6,369,199 17,705,808 15,744,945 2,507,890 2,573,387 707,428 1,227,429 50,993,950 47,966,347 117

6 1,162,921 25,282,529 16,100,266 779,939 1,125,297 3,204,475 47,655,427 (8,432) (445,523) (406,641) (247) (12,323) (97,736) (970,902) 198,022 39,586 10,051 163,326 (410,985) 446,393 69,712 3,829,974 300,077 464,563 1,236,366 6,347,085 (5,108) (725,269) (9,518,115) (78,759) (62,186) (10,389,437) 1,793,796 24,221,035 10,005,484 1,011,061 1,678,677 3,932,120 42,642,173 272,524 12,227,418 4,976,589 464,598 627,199 18,568,328 (245) (184,751) (113,415) (236) (1,213) (299,860) 61,666 754,315 682,424 81,636 159,909 1,739,950 (3,169) (573,520) (3,072,561) (65,866) (52,264) (3,767,380) 330,776 12,223,462 2,473,037 480,132 733,631 16,241,038 1,463,020 11,997,573 7,532,447 530,929 945,046 3,932,120 26,401,135 118

6 1,079,234 25,483,788 14,772,337 845,581 918,072 656,105 43,755,117 (1,336) (323,237) (366,887) (988) (8,736) (11,263) (712,447) 29,711 3,530 118,322 (151,563) 127,487 121,978 2,692,282 131,570 134,599 2,711,196 5,919,112 (72,175) (997,466) (199,754) (36,960) (1,306,355) 1,162,921 25,282,529 16,100,266 779,939 1,125,297 3,204,475 47,655,427 250,362 11,646,531 4,797,321 469,080 533,101 17,696,395 (15) (115,596) (124,769) (659) (5,529) (246,568) 74,474 696,483 875,141 60,001 131,949 1,838,048 (52,297) (571,104) (63,824) (32,322) (719,547) 272,524 12,227,418 4,976,589 464,598 627,199 18,568,328 890,397 13,055,111 11,123,677 315,341 498,098 3,204,475 29,087,099 119

6 1,400 5,309 6,709 836 151 987 2,236 5,460 7,696 58 432 490 253 1,076 1,329 311 1,508 1,819 1,925 3,952 5,877 1,400 5,309 6,709 (58) (432) (490) 1,342 4,877 6,219 120

6 (a) 2,429,763 434,840 2,864,603 (1,029,116) (228,622) (1,257,738)... 1,400,647 206,218 1,606,865 7,940,649 7,940,649 (2,319,028) (2,319,028)... 5,621,621 5,621,621 (b) (c) (d) (e) 8,437,857,000 10,748,980,0004,126,067,000 22(h) 30,923,000 25(b) 331,956,000 131,560,000 3,015,220,000386,136,000 (i) (ii) (iii) (iv) (v) 627,632,00080,376,000 60% 121

7 22,243 30,081 (207) (183) (6,580) (1,075) (1,075) 20,961 22,243 38,922 39,148 (17,961) (16,905) 20,961 22,243 38,031,000 37,756,000 8 226,227 180,144 (4,449) (4,931) 142,631 56,285 (10,682) (5,254) (146) (17) 353,581 226,227 122

8 (a) 50 129,161 130,681 10 50 1,758 1,934... 130,919 132,615... 50 9,520 9,091 10 50 213,142 84,521... 222,662 93,612... 353,581 226,227 (b) 12,845,000 13,598,000 22(h) 9 511,628 476,976 132 132 (382,809) (299,775) (40) (13) 128,819 177,201 92 119 177,201 189,324 119 (719) (727) 37,702 68,584 132 (84,788) (79,716) (27) (13) (577) (264) 128,819 177,201 92 119 123

10 8,586,288 6,868,438 a 7,810,772 10,761,230 a (514,189) (4,411,050) (a) (b) 41(a) 11 2,137,740 1,900,298 a 78,149 80,767 b 330,261 172,839 2,546,150 2,153,904 4,908,547 4,943,296 124

11 (a) 41,870,000 43,272,000 35,396,000 36,582,000 80,767 44,185 36,582 (2,618)... 78,149 80,767 (b) (c) (d) 62,196,000 77,522,0001.60%1.60% 41(b)... 1,159,202 222,478 (82,436 ) (1,139,328 ) (491,957 ) 189,262... 4,125,729 1,453,086 (1,282,038 ) (2,130,847 ) (1,791,576 ) 436,740... 5,284,931 1,675,564 (1,364,474 ) (3,270,175 ) (2,283,533 ) 626,002... 1,184,197 234,964 (1,117,900 ) (108,988 ) (541,827 ) 229,162... 2,213,621 1,201,403 (657,327 ) (1,049,137 ) (1,748,531 ) 338,091... 3,397,818 1,436,367 (1,775,227 ) (1,158,125 ) (2,290,358 ) 567,253 125

12 4,906,661 4,258,655 a 246,146 702 b 145,882 114,290 5,298,689 4,373,647 1,711,581 1,768,899 c 1,074,485 1,289,352 1,997,814 4,075,418 3,766,713 8,298,446 1,113,663 (a)... 702 1,556... (815)... 245,466... (22) (39)... 246,146 702 10%245,466,000 (b) (c) 97,882,000 66,288,000 2%2%48,000,000 48,002,000 0.5% 0.5% 28 6,785,097,000 126

12 (d) (e) 41(c) 12,849,107 (11,483,029) (562,272) 101,823 3,791,639 (1,654,047) (5,388,304) 460,003 3,751,817 (2,065,741) (720,173) 261,969 20,392,563 (15,202,817) (6,670,749) 823,795 10,559,034 (9,187,527) 407,939 82,120 2,762,421 (1,056,494) 5,021,326 455,645 2,914,496 (1,580,294) (66,245) 180,311 16,235,951 (11,824,315) 5,363,020 718,076 (f) 197,591,000 176,899,000 127

13 2,266,936 2,584,447 (71,438) (56,838) 103,537 329,121 (9,594) (646,124) (68,000) 839,462 124,330 3,128,903 2,266,936 b 67,069 89,353 108,834 8,862 c 2,953,000 2,168,721 3,128,903 2,266,936 (a) (b) (c) 410,870,000 402,994,000 128

14 15% 46%15% 44% (634,928) (752,554) 6,010 12,714 31 309,466 104,912 2,381 (44,452) (363,904) (634,928) 2,381 147,391,000 154,472,000 40,424 8,526 8,526 4,663 4,663 11,520 11,520 50,693 50,693 33,447 275,337,000 104,918,000 990,604,000 387,011,000 129

14 (1,195,136) (110,594) (22,610) (3,656) (1,331,996) 24,792 24,792 156,453 90,608 (177,600) 616 70,077 (1,013,891) (19,986) (200,210) (3,040) (1,237,127) 13,552 5 13,557 962,394 19,986 (219,108) 3,024 766,296 (46,894) (46,894) (37,945) (419,318) (46,894) (11) (504,168) 130

14 453,476 4,360 41,852 79,754 579,442 (10,536) (428) (1,114) (12,078) (54,117) 77,255 21,822 3,174 (13,299) 34,835 388,823 77,255 25,754 45,026 65,341 602,199 (5,851) (835) (861) (7,547) (379,061) (48,151) 1,148 (1,132) (29,634) (456,830) 2,313 129 2,442 3,911 29,104 28,380 43,894 34,975 140,264 124,342 100,733 (488,246) (735,661) (363,904) (634,928) 12 96,930 100,413 12 (379,867) (727,961) 131

15 14,570 (2,843) (470) 11,257 26,963 (3,537) (86) 23,340 41,533 (6,380) (556) 34,597 (14,570) 2,843 470 (11,257) 26,963 (3,537) (86) 23,340 13,752 (3,397) 10,355 33,790 (5,585) 28,205 2,076 (40) 2,036 49,618 (9,022) 40,596 (13,752) 3,397 (10,355) 35,866 (5,625) 30,241 1919 63,227,000 65,990,000 55,000 73,000 132

16 a 96,632 239,988 b 62,470 64,562 c 535,205 526,007 7,198,180 9,379,081 631,847 2,262,888 7,795,855 9,969,650 631,847 2,262,888 e 7,892,487 10,209,638 631,847 2,262,888 (a) 22(h) (b) (c) (d) (e) 4,075,559,000 3,428,182,000 3,330,492 3,659,295 46,124 117,161 2,787,420 2,554,775 90,691 139,762 206,239 570,752 1,121,575 2,236,835 495,032 2,005,965 446,761 1,187,981... 7,892,487 10,209,638 631,847 2,262,888 0.16% 6.50%1.62% 4.29% 4365 133

17 549,942 499,744 51,600 44,886 601,542 544,630 18 a 5,580,883 4,505,198 1,068,503 670,573 252,317 288,176 1,773 61,847 8,970 6,965,323 5,472,917 a 79,147 105,774 7,044,470 5,578,691 1,218,928 765,595 6,243 3,618 c 212,121 195,334 136,300 207,530 303,013 313,775 235,173 57,066 37,640 6,598 566 70,825 7,172 661,017 460,496 310,185 351,415 8,924,415 6,804,782 316,428 355,033 134

18 (a) 25 90 1 3 6,434,983 4,876,380 4 6 410,625 594,799 7 12 199,089 95,741 1 2 44,991 41,923 2 3 15,611 10,386... 7,105,299 5,619,229 (60,829) (40,538)... 7,044,470 5,578,691 (b) 3,107,698 2,989,817 3,264,924 1,782,861 417,745 419,142 20,564 23,299 233,539 363,572... 7,044,470 5,578,691 (c) (d) 135

19 a 4,519 2,010 5,853 b 34,061 16,199 4,519 36,071 5,853 16,199 28 430,892 4,519 466,963 5,853 16,199 (a) (b) (c) 3.88% 4.90%3.88% 4.90% 100,000,000780,870,000100,000,000807,020,000 1.05% 1.16%1.05% 1.16% 200,000,0001,561,740,000200,000,000 1,614,040,00022(c) 24,864,000 200,656,000 20 (a) 1.00 3,960,756 3,960,756 3,896,000 3,896,000 1.00H 2,244,000 2,244,000 2,244,000 2,244,000... 6,204,756 6,204,756 6,140,000 6,140,000 136

20 (a) H i 4,100,000 4,100,000 H ii (204,000) 204,000 ii 2,040,000 2,040,000 3,896,000 2,244,000 6,140,000 3,896,000 2,244,000 6,140,000 21(d) 64,756 64,756... 3,960,756 2,244,000 6,204,756 (i) 4,100,000,000 4,100,000,000 1.004,100,000,0001.00 1 H (ii) H2,244,000,000 H 2,040,000,000 204,000,0001.00H4.254.53 2,040,000,0008,817,797,000 2,040,000,000 6,777,797,000 204,000,000H42,727,000 880,541,000 137

20 (b) H H10% H10% 25% 25% 50% 75% 100% (i), (iv) HK$3.195 6,000,000 (600,000) 5,400,000... (ii) HK$3.588 5,400,000 5,400,000... (i) HK$3.195 1,400,000 1,400,000... (ii) HK$3.588 1,400,000 1,400,000... (i) HK$3.195 12,525,000 150,000 12,675,000... (ii) HK$3.588 12,740,000 12,740,000... (i), (iii), (iv) HK$3.195 2,225,000 600,000 2,825,000... (ii), (iii) HK$3.588 2,160,000 2,160,000 22,150,000 21,850,000 44,000,000 138

20 (b) (i) 3.195 6,000,000 6,000,000 (i) 3.195 1,400,000 1,400,000 (i) 3.195 12,525,000 12,525,000 (i),(iii) 3.195 2,225,000 2,225,000 22,150,000 22,150,000 (i) (ii) (iii) (iv) 3.43093.3834 5.07 39.2% 1.8751.482 139

20 (c) (vi) (v) (iii) 9.54 3,300,000 (1,400,000) 1,900,000 (iv) 13.75 9,000,000 (2,500,000) 6,500,000 (iii) 9.54 400,000 (100,000) 300,000 (iv) 13.75 1,000,000 1,000,000 (ii) 8.80 1,154,000 (832,000) 322,000 (iii) 9.54 7,988,000 (3,210,000) 4,778,000 (iv) 13.75 38,144,000 (14,126,000) (20,000) 23,998,000 (iii) 9.54 910,000 (810,000) 100,000 (iv) 13.75 9,700,000 (6,740,000) 2,960,000 71,596,000 (29,718,000) (20,000) 41,858,000 140

20 (c) (vi) (v) (iii) 9.54 6,700,000 (3,400,000 ) 3,300,000 (iv) 13.75 9,000,000 9,000,000 (iii) 9.54 800,000 (400,000 ) 400,000 (iv) 13.75 1,000,000 1,000,000 (ii) 8.80 2,702,000 (1,548,000 ) 1,154,000 (iii) 9.54 11,670,000 (3,682,000 ) 7,988,000 (iv) 13.75 43,990,000 (4,846,000 ) (1,000,000 ) 38,144,000 (iii) 9.54 1,320,000 (410,000 ) 910,000 (iv) 13.75 9,750,000 (1,050,000 ) 1,000,000 9,700,000 86,932,000 (15,336,000 ) 71,596,000 (i) (ii) 20% 141

20 (c) (iii) (iv) (v) (vi) (vii) 9.54 13.75 29,718,00015,336,000 391,139,000 179,901,000 12.93 71,596,000 12.60 86,932,000 12.97 (29,718,000) 11.08 (15,336,000) 13.75 (20,000)... 12.94 41,858,000 12.93 71,596,000 17.31 15.73 142

21 f b 4,100,000 2,929,994 217,814 1,030,706 26,131 348,302 8,652,947 7,007,499 15,660,446 2(a) 1,688 4,514 933,452 939,654 (46,175 ) 893,479 4,100,000 2,929,994 219,502 1,030,706 30,645 1,281,754 9,592,601 6,961,324 16,553,925 (3,720,000 ) 3,720,000 a 2,248,316 279,422 (217,814 ) (26,131 ) (2,283,793 ) H 2,040,000 7,192,683 9,232,683 9,232,683 (414,886 ) (414,886 ) (414,886 ) 5,582,059 5,582,059 1,363,976 6,946,035 (261,381 ) (261,381 ) (237,871 ) (499,252 ) (4,796 ) (5,639 ) (10,435 ) 141,628 131,193 (279 ) (279 ) (279 ) 13 64,689 64,689 59,641 124,330 71,940 71,940 9,631 9,631 3,151 12,782 e (389,296 ) (389,296 ) (140,429 ) (529,725 ) (2,134 ) (2,134 ) b 1,081,763 (1,081,763 ) 41,049 (41,049 ) 4,187 4,187 1,937 1,937 (754,953 ) (754,953 ) 33(a) (3,952,695 ) (3,952,695 ) (3,952,695 ) 6,140,000 8,231,032 279,422 52,368 1,081,763 828,375 (384,782 ) 3,224,513 19,452,691 7,472,397 26,925,088 6,140,000 8,231,032 279,422 52,368 1,081,763 828,375 (384,782 ) 2,426,313 18,654,491 7,472,397 26,126,888 798,200 798,200 798,200 6,140,000 8,231,032 279,422 52,368 1,081,763 828,375 (384,782 ) 3,224,513 19,452,691 7,472,397 26,925,088 143

21 f b 6,140,000 8,231,032 279,422 9,208 1,081,763 828,375 (393,559 ) 2,260,111 18,436,352 7,508,740 25,945,092 2(a) 43,160 8,777 964,402 1,016,339 (36,343 ) 979,996 6,140,000 8,231,032 279,422 52,368 1,081,763 828,375 (384,782 ) 3,224,513 19,452,691 7,472,397 26,925,088 2,031,016 2,031,016 1,137,150 3,168,166 2,471 2,471 (2,471 ) (68,791 ) (13,616 ) (1,207 ) (83,614 ) 312,895 229,281 13 400,418 400,418 320,712 721,130 18,167 1,610 19,777 8,629 28,406 e (273,337 ) (273,337 ) (145,846 ) (419,183 ) 75,890 594,572 (670,462 ) d 64,756 214,666 (279,422 ) 220,897 220,897 (798,200 ) (798,200 ) (798,200 ) (749,831 ) (749,831 ) (884 ) (884 ) (32,244 ) (32,244 ) 33(a) (1,816,824 ) (1,816,824 ) (1,816,824 ) (3,363 ) (3,363 ) (3,363 ) 4,269 4,269 4,269 6,204,756 8,376,907 146,425 1,676,335 1,219,258 (659,326 ) 1,970,949 18,935,304 8,541,404 27,476,708 6,204,756 8,376,907 146,425 1,676,335 1,219,258 (659,326 ) 481,808 17,446,163 8,541,404 25,987,567 1,489,141 1,489,141 1,489,141 6,204,756 8,376,907 146,425 1,676,335 1,219,258 (659,326 ) 1,970,949 18,935,304 8,541,404 27,476,708 144

21 a d 4,100,000 2,489,016 279,422 6,868,438 (75,297 ) (75,297 ) H 2,040,000 7,192,683 9,232,683 (414,886 ) (414,886 ) (967,926 ) (967,926 ) e (185,476 ) (185,476 ) b 1,081,763 (1,081,763 ) 6,140,000 9,266,813 279,422 1,081,763 (2,124,986 ) (185,476 ) 14,457,536 6,140,000 9,266,813 279,422 1,081,763 (2,923,186 ) (185,476 ) 13,659,336 798,200 798,200 6,140,000 9,266,813 279,422 1,081,763 (2,124,986 ) (185,476 ) 14,457,536 6,140,000 9,266,813 279,422 1,081,763 (2,124,986 ) (185,476 ) 14,457,536 (115,586 ) (115,586 ) e (279,434 ) (279,434 ) (798,200 ) (798,200 ) b 594,572 (594,572 ) d 64,756 214,666 (279,422 ) 6,204,756 9,481,479 1,676,335 (3,633,344 ) (464,910 ) 13,264,316 6,204,756 9,481,479 1,676,335 (5,122,485 ) (464,910 ) 11,775,175 1,489,141 1,489,141 6,204,756 9,481,479 1,676,335 (3,633,344 ) (464,910 ) 13,264,316 145

21 (a) (b) 1.004,100,000,000 21(d) 1,065,352 454,370 454,370 610,983 173,023... 1,676,335 1,081,763 10% 50% 25% 5% 10% 173,023,000 10% 281,347,000 10% 281,347,000 454,370,000 10% 156,612,000 146

21 (c) (i)(ii) 1,566,124,000 4,402,099,000 (d) 279,422,000 4.25 64,756,000 (e) (f) (g) 38,597,546 1,579,561 (1,498,888) (i), (ii) 38,678,219 13,078,108 4,368,601 (111,439) (iii) 17,335,270... 51,675,654 5,948,162 (1,610,327) 56,013,489 6,140,000 1,585,333 (1,585,333) (i) 6,140,000 11,498,152 746,810 269,529 (i), (ii) 12,514,491 798,200 798,200... 18,436,352 2,332,143 (1,315,804) 19,452,691 7,508,740 140,544 (176,887) (i) 7,472,397... 25,945,092 2,472,687 (1,492,691) 26,925,088... 13,222,070 159,930 13,382,000 12,508,492 3,315,545 (117,636) (iii) 15,706,401... 25,730,562 3,475,475 (117,636) 29,088,401... 51,675,654 5,948,162 (1,610,327) 56,013,489 147

21 (g) 39,468,117 1,924,421 (3,269,986) (i), (ii) 38,122,552 12,632,228 4,819,623 (114,263) (iii) 17,337,588... 52,100,345 6,744,044 (3,384,249) 55,460,140 6,204,756 1,585,333 (1,585,333) (i) 6,204,756 11,777,598 958,347 (1,494,538) (i), (ii) 11,241,407 1,489,141 1,489,141... 19,471,495 2,543,680 (3,079,871) 18,935,304 8,594,897 137,310 (190,803) (i) 8,541,404... 28,066,392 2,680,990 (3,270,674) 27,476,708... 9,495,561 292,655 9,788,216 14,538,392 3,770,399 (113,575) (iii) 18,195,216... 24,033,953 4,063,054 (113,575) 27,983,432... 52,100,345 6,744,044 (3,384,249) 55,460,140 (i) (ii) (iii) 49% 148

22 h 6,125,557 10,570,648 1,892,903 1,588,449 h 61,027 c 2,262,283 2,346,242 10,280,743 14,566,366 (1,333,535) (2,196,863) 8,947,208 12,369,503 (a) 3,691,238 7,920,595 61,027... 3,691,238 7,981,622... 4,327,222 4,238,502 2,262,283 2,346,242... 6,589,505 6,584,744... 10,280,743 14,566,366 149

22 (b) 1,333,535 2,173,798 2,565,052 2,222,049 2,375,658 5,346,415 1,744,215 2,416,835... 8,018,460 12,159,097... 23,065 24,840 13,122... 61,027... 2,262,283 2,346,242... 10,280,743 14,566,366 150

22 (c) 2,342,610 2,421,060 (14,829) (15,325) (14,056) (14,526)... 2,313,725 2,391,209 5,802 4,269 5,497 4,043 (62,741) (53,279)... 2,262,283 2,346,242 300,000,000 2,342,610,0005.96%99.367% 5.875% (d) 1 2 5 5 7,502,459 450,003 2,328,281 10,280,743 (124,939) (1,561,740) (1,686,679)... 7,377,520 450,003 766,541 8,594,064 12,195,090 25,034 2,346,242 14,566,366 (1,614,040) (1,614,040)... 12,195,090 25,034 732,202 12,952,326 151

22 (e) 9,669,748 14,543,374 610,995 22,992... 10,280,743 14,566,366 (f) 8,018,460 12,159,097 8,054,479 12,090,767 61,027 60,010 2,262,283 2,346,242 2,402,440 2,514,012... 10,280,743 14,566,366 10,456,919 14,664,789 5.4%5.2% (g) 5.1% 6.8% 5.2% 6.2% 2.8% 5.8% 4.7% 5.6% 6.8% 6.0% 6.0% (h) (i) (ii) (iii) 2,781,100,000 152

23 a 201,643 204,702 b 69,645 51,225 57,022 4,710 328,310 260,637 24 (11,619) 316,691 260,637 (a) 184,536 197,436 20,166 31,234 204,702 228,670 (36,343) (9,035) (1,593) (37,936) (9,035) 40,242 40,242 (3,865) (5,365) (11,068) (5,365) (14,933)... 188,435 184,536 13,208 20,166 201,643 204,702 153

23 (b) (i) 21,083 16,975 (ii) 48,562 34,250... 69,645 51,225 35 (i) 7,250 9,056 (ii) 17,865 34,825... 25,115 43,881 (i) Summit Financial Corporation 44,648 40,422 (21,730) (11,471)... 22,918 28,951... (7,740) (1,835) (4,236)... 21,083 16,975 154

23 (b) (i) 40,422 34,147 (1,311) (959) 4,003 3,070 2,146 1,937 (420) 2,429 (192) (202)... 44,648 40,422 11,471 9,055 (371) (266) 1,163 807 478 (367) 9,181 2,444 (192) (202)... 21,730 11,471 4,003 3,070 2,146 1,937 (1,163) (807) 94 2,264 4,762... 7,250 9,056 1,911,000 713,000 5.75% 5.50% 8.00% 8.00% 155

23 (b) (i) 65 19.4 19.4 19.4 19.4 % % 12,431 57 6,964 61 3,897 18 2,273 20 5,402 25 2,234 19... 21,730 100 11,471 100 4,843,000 44,648 40,422 (21,730) (11,471)... 22,918 28,951 (420) 2,393... 478 (362) (ii) 9.5%10% 5% 156

23 (b) (ii) 67,466 63,209 (2,192) (624)... 65,274 62,585 (2,427) (16,712) (25,908)... 48,562 34,250 63,209 56,821 (2,048) (1,536) 6,193 5,915 3,364 3,233 (3,252) (1,224)... 67,466 63,209 624 618 (21) (16) 48 49 1,531 10 (27)... 2,192 624 157

23 (b) (ii) 6,193 5,915 3,364 3,233 (48) 49 8,356 25,628... 17,865 34,825 71,000 49,000 1% 2,985 (2,191)... 17,083 (12,733) % % 1,326 60 377 61 424 20 109 17 442 20 138 22... 2,192 100 624 100 1,701,000 67,466 63,209 (2,192) (624)... 65,274 62,585 (3,252) (1,206)... 10 (27) 158

24 a 4,124,626 3,112,830 1,020,258 945,828 252,907 191,463 267,511 137,129 27,475 36,645 5,692,777 4,423,895 a 52,233 19,758 5,745,010 4,443,653 4,374,750 3,975,231 46,475 24,805 c 1,213,959 1,794,022 1,213,959 967,926 d 23,114 117,778 937 63,420 40,443 145,918 976 25,027 181,198 40,443 145,918 23 11,619 11,370,365 10,394,104 1,300,877 1,138,649 159

24 (a) 1 6 5,569,053 4,176,423 7 12 65,339 102,010 1 2 92,341 118,066 2 3 592 21,295 3 17,685 25,859... 5,745,010 4,443,653 (b) 2,915,957 2,269,516 2,123,914 1,653,336 332,113 165,401 176,918 138,258 196,108 217,142... 5,745,010 4,443,653 (c) (d) (e) 51% 33(a) 160

25 a 2,781,178 1,773,108 764,261 242,106 b 522,200 356,200 13,000 c 88,000 d 1,509,439 1,509,439 4,825,817 2,217,308 2,273,700 242,106 (a) 4.70% 6.48%4.70% 5.58% (b) 4.70% 5.85%4.70% 5.02% 6(c) (c) 5.85%5.85% (d) 1,500,000,000 3.48% 364 (e) 1,111,178 886,108 234,261 242,106 3,714,639 1,331,200 2,039,439... 4,825,817 2,217,308 2,273,700 242,106 161

26 169,265 155,371 9,365 4,953 224,909 146,091 d 346,738 185,239 a 121,449 a 672,980 12,113 b 377,060 35,398 13,482 169,867 48,708 c 54,790 512,117 66,426 3,420 1,458 3,199 32,629 71,701 72,120 64,203 143,739 97,072 2,467,305 1,348,557 (a) 6,745,611,000 121,499,000 58,097,0005,818,000 52,279,000 (b) 457,458,000 78,881,000 345,892,000 2436 (c) (d) 17.5% 27 162

27 14,898,710 12,403,892 9,253,259 6,509,218 4,993,383 4,084,148 15,700,881 14,518,938 121,083 91,301 673,176 857,619 379,241 354,788 46,019,733 38,819,904 26(d) (357,772) (155,026) (477) (510) (124,063) (144,879) (177,152) (33,168) (5,604) (17,597) (30,114) (57,089) (81,265) (735,045) (449,671) 1,691,518 1,736,282 278,352 206,837 135,195 129,640 133,287 125,114 135,773 123,570 132,821 122,083 99,846 156,908 75,956 77,742 227,579 302,208 2,910,327 2,980,384 163

28 327,402,912 A 424,106,507 A A 12(c) 4,241,000,000 16%37% 439,707,000 (1,116,114) 676,407 (439,707) 29 37,790 33,811 10,682 5,254 84,788 79,716 7,023,552 4,746,101. 3,346 496,580 1,736,604 1,341,468 1,075 1,075 2,709,940 1,845,413 761,660 752,510 142,674 122,349 324,747 388,180 2,425 164

30 735,724 686,586 9,439 64 3,115 21,127 6,447 25(c) 5,581 3,705 147,802 132,859 919,737 832,712 38,724 21,553 1,705 1,858 28,279 21,339 988,445 877,462 16(c) (12,337) (13,639) 11(b) (3,315) (2,642) 12(b) (8,225) (5,441) (250,477) (184,602) (274,354) (206,324) 714,091 671,138 31 a 235,148 773,319 b 7,751 5,440 c 981,698 60,691 8,852 (1,437) 1,233,449 838,013 14 (309,466) (104,912) 923,983 733,101 165

31 91,711,000 93,694,000 71,238,000 50,754,000 (a) 33% 15% 27% (b) 17.5%17.5% (c) 20% 44% 22% 44% (d) 4,092,149 7,679,136 (1,449,797) (1,285,329) 2,642,352 6,393,807 33%33% 871,976 2,109,956 (263) (340,177) (86,574) (16,390) (492,144) (114,293) (147,455) 61,596 76,090 (14,480) (5,212) 139,744 25,215 (82,482) (32,556) (176,000) (175,572) 244,291 (3,231) (88,670) 4,807 (170,899) 8,852 (1,437) 70,040 (7,648) 923,983 733,101 166

31 (e) 3% 5% 32 115,586,000 75,297,000 33 (a) (i) 1,994,544 1,794,022... 3,788,566 (ii) 1,679,636 (iii) 133,586 58,994 3,602 94,568 10,567... 1,816,824 3,952,695 (i) 3,788,566,000 (ii) 51% (iii) 51% 167

33 (b) 0.09 0.13 558,428 798,200 0.15 930,713... 1,489,141 798,200 0.09 101.001.5 930,713,000 (i)(ii) 34 2,031,016,000 5,582,059,000 6,156,676,974 5,133,972,603 0.32989 1.08728 168

34 4.25 21(b) 2,031,016,000 5,582,059,000 6,156,676,974 5,133,972,603 31,292,600 6,156,676,974 5,165,265,203 0.32989 1.08069 35 551,090 612,978 1,857,627 1,865,372 a 89,147 71,804 23(b) 25,115 43,881 b 139,252 104,628 411,969 393,587 3,074,200 3,092,250 169

35 (a) 5% 20% (b) 9% 20% 29,316,605 32,136,700 (c) 36 170

36 (a) 958 685... 1,486 1,639 7,469 4,564 8,257 322 22... 17,212 6,547... 1,523 1,659 2,016 75 150 19 16 44... 3,558 1,944... 12,283 7,599 2,705 402 407 730 61 57 23... 16,177 8,090... 37,905 17,266 20(b) 5,400,0006,000,000 1,400,0001,400,000 171

36 (b) 151 2,716 1,262 4,129 2,522 1,121 3,643 121 2,231 981 3,333 162 841 1,003 305 841 1,146 163 841 1,004 165 841 1,006 291 841 1,132 (ii) 128 688 816... 202 202 249 249 255 255 252 252... 2,444 7,469 8,257 18,170 172

36 (b) 158 1,181 49 1,388 63 1,097 43 1,203 126 970 38 1,134 200 32 232 288 32 320 199 32 231 200 32 232 265 32 297 140 1,316 32 22 1,510... 111 111 147 147 284 284 143 143... 2,324 4,564 322 22 7,232 (i) (ii) 173

36 (c) 3 2 5 5 5 36(b) 8,714 11,094 1,455 402 2,132 19 164 730 11,320 13,390 1,500,001 2,000,000 1,560,0002,080,000 2 2,000,001 2,500,000 2,080,0002,600,000 2 2,500,001 3,000,000 2,600,000 3,120,000 1 4,500,001 5,000,000 4,680,0005,200,000 1 8,000,001 8,500,000 8,320,000 8,840,000 1 2 5 174

37 (a) 4,092,149 7,679,136 1,735,381 1,839,123 84,788 79,716 10,682 5,254 40,429 23,411 (169,265) (155,371) (626,002) (567,253) (823,795) (718,076) (54,790) (512,117) 919,737 832,712 (274,354) (206,324) (169,867) (48,708) 17,597 30,114 (72,120) (64,203) 2,425 (14,472) (1,052,270) (19,991)... 17... (66,426) (3,420) (1,458) (3,199) (32,629) 439,707 (124,063) 71,701 28,279 21,339 3,935,023 8,238,501 406,146 (291,835) (1,955,120) 1,721,168 819,495 (3,087,826) (54,328) (75,076) 13,915 12,744 62,730 18,103 3,227,861 6,535,779 175

37 (b) 118,796,000 (c) 8,817,797 16,783,674 7,472,397 (403,541 ) (145,846 ) 24,188 530,000 12,235,166 (15,560,960 ) 1,509,439 (11,406 ) (2,471) 312,895 320,712 8,629 (884) 1,137,150 (749,831 ) 220,897 (32,244) 8,817,797 15,106,560 8,541,404 176

37 (c) 17,768,666 9,105 6,961,324 H 9,232,683 (414,886) (419,282) (140,429) 21,553 6,342,689 (6,757,078) (9,105) (118,796) (54,078) (237,871) 141,628 59,641 3,151 71,940 1,363,976 (754,953) (2,134) 4,187 1,937 8,817,797 16,783,674 7,472,397 177

38 b 36,482 36,280 (a) (b) (c) 39 (a) 3,705,947 2,562,757 304,000 67,713 145,234 5,675 3,500 7,918 3,777,160 3,025,584 307,241 67,233 10,285,682 7,395,455 391,281 104,018 i 5,732,624 5,744,723 18,359 11,805 16,735,187 13,323,234 178

39 (a) (i) 607,650 839,462... Antwerp Gateway NV 673,844 654,421... 714,855 713,341... 1,295,479 2,365,343... 557,736 356,679... 3,849,564 4,929,246... 1,079,998... 400,000 400,000... 370,913 383,335... 32,149 32,142... 1,883,060 815,477... 5,732,624 5,744,723 (ii) 251,604 67,128... 225,298 59,042... 476,902 126,170 179

39 (b) 97,077 15,167 5,470 4,677 6,739 10,498 1,317 1,930 13,526 17,105 150,768 822,860 471,170 1,898,248 52,907 83,632 674,845 2,804,740 12,032 8,643 24,508 21,881 36,540 30,524 821,988 2,867,536 180

39 (c) 105,916 110,311 4,176 8,352 203,850 178,756 4,176 74,364 49,483 384,130 338,550 4,176 12,528 2,558,710 2,206,671 8,253,466 7,815,862 7,546,683 7,668,402 18,358,859 17,690,935 577,198 527,576 1,127,258 1,093,345 498 1,322 1,704,954 1,622,243 73,919 25,022 152,793 25,691 35,482 5 262,194 50,718 20,710,137 19,702,446 4,176 12,528 181

40 24 182

40 a 152,945 113,236 51%t 1,683,239 b 415,046 392,823 l 31,627 15,888 c 20,168 35,808 d 225,745 267,871 e 572,117 603,433 a 529,312 495,307 e 74,957 75,248 f 6,197,664 4,489,521 g 1,079,944 1,261,996 h 236,918 229,363 i 258,605 231,659 j 93,547 247,743 l 18,442 21,289 l 22,958 22,973 l 40,294 49,099 n 12,760 n 27,900 18,600 o 425,650 p 392,100 183

40 c 97,144 98,904 l 27,420 21,056 g 1,096,443 1,091,301 h 1,969 1,336 i 8,934 5,093 j 91,745 99,600 l 4,478 4,595 q 321,732 301,642 c 2,031 870 l 6,845 5,020 l 12,909 14,562 j 34 346 r 49,820 q 1,245,484 866,147 l 15,937 s 417,934 184

40 b 5,107,369 2,867,281 c 848,119 748,952 l 8,295 17,281 l 611,042 404,422 l 89,859 41,533 d 65,920 74,497 g 2,877,197 1,365,032 j 327,060 337,420 l 560 7,320 k 351,624 421,314 l 129,683 125,321 (a) (b) m (c) m (d) m (e) m 185

40 (f) m 200,656,000 (g) m (h) m (i) m (j) m (k) (l) (m) 186

40 (n) (o) 425,650,000 290,807,000 (p) 10,000 485,800,0004,021,200,000 392,100,000 (q) (r) 20%6,252,00049,820,000 5,470,00043,588,000 (s) 171,082,000 9,800,000 76,525,000 5.265%5.022% 246,852,000 14,256,000111,321,000 1,050,000 8,199,000 (t) 51% 1,679,636,000 100% 55% 3,462,000 3,603,000 (u) 119121 26,900 187

40 a 4,204,205 5,986,175 a 7,274,256 7,897,694 b 5,280,045 514,253 b 1,502,974 343,195 (a) (b) 188

41 (a) 1 100% # 2,380,000,000 500 100% # 1,000 4 76.16% 1,582,029,851 100% i 80,000,000 100% 20,000,000 3 # 2,228,684,298 51.34% 0.1 1 1 100% # 100% 20,000,000 100% 20,000,000 100% 24,300,000 88.32% 44,680,000 100% 114,000,000 100% 50,000,000 100% 15,000,000 100% 5,705,600 189

41 (a) 100% 10,000,000 100% 10,000,000 100% 3,000,000 100% 10,000,000 100% # 668,800,000 1,000,000 70% 100% 13,000,000 250,000 60% 1,000,000 100% # 1 # 50,000 100% 5,000 200,000 100% 1 57.12% 39,960,000 76.16% 17,000,000 76.16% 50,000,000 76.16% 23,750,000 57.12% 80,000,000 76.16% 147,500,000 190

41 (a) 76.16% 18,000,000 76.16% 29,012,113 76.16% 19,717,719 57.12% 27,666,300 76.16% 25,000,000 76.16% 19,371,238 76.16% 27,248,461 76.16% 21,001,615 45.69% 22,000,000 45.69% 26,000,000 76.16% 46,831,250 76.16% 47,473,579 76.16% 113,372,000 38,789,500 76.16% 76.16% 10,822,823 76.16% 180,000,000 76.16% 4,000,000 191

41 (a) 37,496,000 51.34% COSCO Pacific Finance 11 51.34% (2003) Company Limited # 11 51.34% ii 22,0141 51.34% 36.67% ^ 397,395,746 16,800,000 26.18% ^ COSCO (Cayman) 50,000 100% Mercury Co. Ltd. # 1 Honor River 2100 100% Maritime Inc. vii Starry Shipping Inc. 2100 100% vii Pretty River Shipping 2100 100% Inc.vii Dainty River 2100 100% Shippng Inc. vii Sky Manna 2100 100% Maritime Inc. vii Golden Cascade 100100 100% Corporation # Golden Shore 100100 100% Corporation # 2 Buyihe Shipping Inc. # 100100 100% Chaoshanhe Maritime 100100 100% Inc. # Chuanhe Shipping Inc. # 10,0001 100% 2 Caiyunhe Maritime Inc. # 1,00010 100% 2 COSCO Line New 50020 100% Jersey Inc. # 2 COSCO Line 50020 100% New York Inc. # 192

41 (a) Daqinghe Shipping Inc. # 100100 100% 2 Hanihe Shipping Inc. # 100100 100% Hutuohe Shipping Inc. # 100100 100% 2 Jingpohe Shipping Inc. # 100100 100% 2 Jinyunhe Maritime Inc. # 1,00010 100% 2 Luhe Shipping Inc. # 10,0001 100% 2 Lubahe Shipping Inc. # 100100 100% Miyunhe Maritime Inc. # 1,00010 100% 2 Naxihe Shipping Inc. # 100100 100% 2 Ninghe Shipping Inc. # 10,0001 100% Qiyunhe Maritime Inc. # 1,00010 100% Wanhe Shipping Inc. # 10,0001 100% 2 Xibohe Shipping Inc. # 100100 100% Xinhuihe Maritime Inc. # 100100 100% Yangjianghe Maritime 100100 100% Inc. # Yongdinghe Shipping 100100 100% Inc. # Yuehe Shipping Inc. # 10,0001 100% 2 Yuguhe Shipping Inc. # 100100 100% 2 Yunhe Shipping Inc. # 10,000 100% 1 Zhaoqinghe Maritime 100100 100% Inc. # 193

41 (a) Ziyahe Shipping Inc. # 100100 100% Fenghou Maritime Inc. # 1,00010 100% Haihou Maritime Inc. # 1,00010 100% Longhou Maritime Inc. # 1,00010 100% Tianhou Maritime Inc. # 1,00010 100% 2 COSCO Charleston 1,00010 100% Maritime Inc. # 2 COSCO New York 1,00010 100% Maritime Inc. # 2 COSCO Boston 1,00010 100% Maritime Inc. # 2 COSCO Norfolk 1,00010 100% Maritime Inc. 2 COSCO Asia Maritime 1,00010 100% Inc. # 2 COSCO Africa Maritime 1,00010 100% Inc. # 2 COSCO Europe 1,00010 100% Maritime Inc. # 2 COSCO America 1,00010 100% Maritime Inc. # COSCO Oceania 11 100% Shipping Limited # COSCO Pacific 11 100% Shipping Limited # COSCO Indian 11 100% Ocean Shipping Limited # COSCO Atlantic 11 100% Shipping Limited # 1,000,000 100% 1 # 1,500,000 100% 40,000,000 100% 194

41 (a) 1,000 100% 0.01 2,980,000 100% iii # 1 COSCO (Cayman) 1,0001 100% Golden Company Limitedii # # ^ 1 6,100,000,000 2,380,000,000 2,380,000,0006,088,763,082 2 22(h) 3 4 51% (b) COSCON Italy S.R.L. 100,000 50% i 1 50% 50% 25.67%/ 10 50.00%/ A 25.67% 10 B 10 5% 25.67%/ 337,868,700 50.00%/ 25.67% 31,000,000 10.27%/ a 21.40%/ 10.27% 195

41 (b) 10,000 33.94%/ 66.70%/ 33.94% 10.27%/ 390,000,000 20.00%/ 10.27% 16,682,000 11.55%/ 20.00%/ 11.55% 199,962,500 10.27%/ 18.20%/ 10.27% 29,800,000 28.55%/ 50.00%/ 28.55% 8,000,000 25.67%/ 57.10%/ 25.67% 48,900,000 25.16%/ 50.00%/ 25.16% 10.27%/ 474,000,000 22.20%/ 10.27% COSCO Container Lines 18,000 50.00%/ (Netherlands) B.V. 50.00%/ (Note viii) 50.00% 38.84%/ 32,500,000 50.00%/ 38.84% 37.32%/ 30,000,000 40.00%/ 37.32% 40.20%/ 29,803,145 50.00%/ 42.20% 196

41 (b) 41.89%/ 38,080,000 50.00%/ 41.89% 38.84%/ 82,867,650 50.00%/ 38.84% 40.00%/ 60,000,000 40.00%/ 40.00% (a) (b) 51% (c) 15.40%/ 1,900,000,000 30.00%/ 15.40% 21.82% 800,000,000 Antwerp Gateway NV 14,000,000 10.27%/ 17.78%/ 10.27% 8.33%/ 2,016,966,706 16.26%/ CIMC 327,402,912 8.33% 605,866,438 A 1,083,697,356 B 1 197

41 (c) 15.40%/ 160,000,000 28.56%/ 15.40% 10.27%/ 240,000,000 18.18%/ 10.27% 435,000,000 10.27%/ 0.5 11.10%/ 10.27% 15.23%/ 250,000,000 20.00%/ 15.23% 30.46%/ 81,489,470 42.00%/ 30.46% 24.37%/ 46,000,000 28.57%/ 24.37% 37.32%/ 30,000,000 33.00%/ 37.32% # 198

42 2 43 33% 15%25% 199

50,993,950 47,966,347 32,188,669 25,852,874 20,925,740 2,642,352 6,393,807 4,405,956 2,050,206 (883,487)... 1,449,797 1,285,329 837,344 481,202 432,591... 4,092,149 7,679,136 5,243,300 2,531,408 (450,896)... (923,983) (733,101) (285,757) (177,506) (146,757)... 3,168,166 6,946,035 4,957,543 2,353,902 (597,653) 2,031,016 5,582,059 4,157,960 1,742,228 (1,196,183)... 1,137,150 1,363,976 799,583 611,674 598,530... 3,168,166 6,946,035 4,957,543 2,353,902 (597,653) 55,460,140 56,013,489 44,249,567 39,124,943 40,625,251 (27,983,432) (29,088,401) (30,847,045) (31,893,227) (35,191,410) 27,476,708 26,925,088 13,402,522 7,231,716 5,433,841 (a) (b) 200