XINYI SOLAR HOLDINGS LIMITED V

Xinyi Solar Holdings Limited 信義光能控股有限公司 ( 根據開曼群島法例註冊成立的有限公司 ) 股份代號 :968 以介紹形式在香港聯合交易所有限公司主板上市 保薦人

XINYI SOLAR HOLDINGS LIMITED 968 571V

(1) (1)............ (2)... (2)... (3)... (1) (2) (3) 100 100

... i... ii... 1... 19... 27... 29... 31... 49... 50... 53... 55... 59... 61... 71... 78... 87... 112... 160... 166... 169... 176... 179... 181... I-1... II-1... III-1... IV-1... V-1... VI-1

(a) (b) TCO 2,000 16 1,194 500

35 50 87 88 88 89

2,900 484,000 35 50 284.1 686.2 200.0 28 6.620.9 35 10 21

7 538.7141,617 2,847 4,451 185.1 Solar World Industries America Inc. 14.78% 15.97% 18.32% 249.96%

34% EU ProSun 20 11.8% 47.6% 67.9% 97 0.56 7.0 47.6%

EU ProSun Glass25% EU ProSun Glass 81.6 71.8 53.4 7.6% 5.8% 3.5% 33.2 9.2 3.9% 1.1%

(a) (b)... 1,077,393 1,233,678 1,533,130 853,085 859,781... (522,711) (791,060) (1,268,910) (692,949) (637,493)... 554,682 51.5 442,618 35.9 264,220 17.2 160,136 18.8 222,288 25.9... 38,918 66,026 40,345 35,086 5,864. 1,852 (4,296) 2,367 710 (421)... (44,026) (46,936) (71,602) (31,693) (64,754)... (71,439) (66,798) (92,516) (30,579) (67,979)... 479,987 44.6 390,614 31.7 142,814 9.3 133,660 15.7 94,998 11.0... 193 349 929 556 866... 480,180 390,963 143,743 134,216 95,864... (72,331) (70,187) (23,894) (17,936) (15,651)... 407,849 37.9 320,776 26.0 119,849 7.8 116,280 13.6 80,213 9.3 1,077.4 1,233.7 1,533.1480.0 390.6 142.8859.8 95.0 853.1133.7 19.3%

... 424,152 39.4 384,319 31.2 441,688 28.8 261,799 30.7 267,054 31.1... 640,045 59.4 802,186 65.0 851,817 55.6 495,656 58.1 592,178 68.9... 13,196 1.2 47,173 (1) 3.8 239,625 (1) 15.6 95,630 11.2 549 * (2)... 1,077,393 100.0 1,233,678 100.0 1,533,130 100.0 853,085 100.0 859,781 100.0 (1) 24.4 230.1 (2)... 811,745 75.3 877,679 71.1 1,245,210 81.2 699,601 82.0 701,521 81.6... 98,890 9.2 111,768 9.1 98,351 6.4 49,723 5.8 25,478 3.0... 33,536 3.1 73,937 6.0 68,156 4.4 48,609 5.7 65,755 7.6 (1)... 133,222 12.4 170,294 13.8 121,413 8.0 55,152 6.5 67,027 7.8... 1,077,393 100.0 1,233,678 100.0 1,533,130 100.0 853,085 100.0 859,781 100.0 (1) 37.6 62.7 38.1 4.6 24.4 46.4 20.5 0.07

554.7 442.6 264.2 51.5% 35.9% 17.2% 222.3 160.1 25.9% 18.8%... 221,749 52.3 127,512 33.2 51,577 11.7 40,404 15.4 33,788 12.7... 330,661 51.7 302,487 37.7 194,799 22.9 110,152 22.2 188,793 31.9... 2,272 17.2 12,619 26.8 17,844 7.4 9,580 10.0 (293)... 554,682 51.5 442,618 35.9 264,220 17.2 160,136 18.8 222,288 25.9 554.7 442.6 264.2 51.5% 35.9% 17.2% 222.3 160.1 25.9% 18.8%

... 1,170,297 1,832,045 1,654,825 1,407,509... 308,107 189,754 188,146 188,512... 152,958 21,534 20,833 25,156... 1,412... 608 928 1,115 1,632,774 2,043,941 1,864,732 1,622,292 ----------------- ----------------- ----------------- -----------------... 69,889 415,336 217,416 110,247... 241,339 431,889 642,542 543,812... 8,402 4,046 16,816 5,325... 1,531... 20,018 31,933 54,176 40,950 339,648 883,204 930,950 700,334 ----------------- ----------------- ----------------- -----------------... 1,972,422 2,927,145 2,795,682 2,322,626... 16,070 4,122 4,122 4,122... 85,079 25,061 11,872 16,070 89,201 29,183 15,994 ----------------- ----------------- ----------------- -----------------... 133,734 380,949 189,675 221,673... 468,476 1,500,222 1,510,971 441,212... 30,863 35,894 735 4,940 633,073 1,917,065 1,701,381 667,825 ----------------- ----------------- ----------------- -----------------... 649,143 2,006,266 1,730,564 683,819... 1,323,279 920,879 1,065,118 1,638,807... 1,323,279 920,879 1,065,118 1,638,807... (293,425) (1,033,861) (770,431) 32,509

293.4 1,033.9 770.4 468.5 1,500.2 1,511.0 32.5121.1 5,699,999,800 908.9 100 38.7% 33.9% 42.0% 9.5% 10.0% 13.7% 43.6% 57.9% 14.6% 17.4% 35 41.6 71.4 488.8 350.7 50

10 20 33.6% 60.8% 40.0% 16.2% 29.5% 20.5% 40.0% 37.4% 20.9% 21.0% 93 101 108.6 TCO 142.9TCO TCOTCO 202.2 TCOTCO TCO

... 292,000 573,300 549,000 273,000 324,000 (%)... 91.6% 90.4% 87.5% 85.7% 97.2% 365 101,383167,381213,968 55.3% 47.2% 62.1% 118,490155,195 70.5% 66.4%... 157,000 277,000 381,000 187,000 205,000 (%)... 64.6% 60.5% 55.5% 62.4% 65.0% 365 TCO

2,3283,3431,544 85 TCO 680,000 TCO TCO 24.4 230.1TCO 202.2 421.8 68.8% 154 3,921,290,699 3,921,290,699 68.8% 129,333,334 31.2% 28.9%

100 100 15 7.16 (a) (b) (i) (ii) (iii)

(c) 15 15155 (a) (b) 3,921,290,699 (BVI) 31.2% 129,333,334 31.2% 28.9%

............... 169 175 35.0

(a) (b) (c) (d) 31 48

A. 4.

223 32 (Xinyi Solar Holdings Limited) (BVI) G. 1. 2,574,013,096

A. 4.

A. 4.

82 3,125,986,704 571 0.1 233,000,000 98,087,881 Sculptor Finance (MD) Ireland Limited Sculptor Finance (AS) Ireland Limited Sculptor Finance (SI) Ireland Limited 1 2 45 67

2 (Xinyi Glass Holdings Limited) 00868

(a) (b) 0.1 (BVI) Xinyi Automobile Glass (BVI) Company Limited

(Xinyi Group (Glass) Company Limited) (BVI) (BVI)(Xinyi Solar (BVI) Limited) (Xinyi Solar (Hong Kong) Limited) %

AZO TCO BIPV CIGS European Photovoltaic Industry Association FTO TCO ISO ITO TCO TCO

TCO TCO

2,00016 1,194 1,077.4 1,233.7 1,533.1 853.1 859.8 51.5% 35.9% 17.2% 18.8% 25.9% 407.8 320.8 119.8 116.3 80.2 4,600 3,700 2,600 5.4% 7,400 5,900 4,500 2.0%

38.7% 33.9% 42.0%9.5% 10.0% 13.7% 43.6% 57.9% 14.6% 17.4% 75.3% 71.1% 81.2% 82.0% 81.6%

33.6% 60.8% 40.0% 16.2% 29.5% 20.5% 40.0% 37.4%20.9% 21.0% 36.9% 31.3% 30.7% 29.8% 30.2% 10 20

81.6 71.8 53.4 7.6% 5.8% 3.5% 33.2 9.2 3.9% 1.1% 293.4 1,033.9 770.4 468.5 1,500.2 1,511.0 577.4 878.5 347.8 149.1 131.4

50 35 2,000 2,900 430,000484,000

TCO

14 251419 26.7 61.1 89.3 2.5% 5.0% 5.8% 47.3 45.1 5.5% 5.2% C.2.

23.9% 10.4% 1.6% 26.5% 24.4% 17.7%

25% 50% 25% 5% 11%12% 12.5% 15% 15% (BVI) 31.2% 3,921,290,699 129,333,334 31.2% 28.9%

25% 82 82 82 25% 10% 10% 5% 601 601 601 10% 5%

0.3% 0.5%

H7N9 (a) (b)

20%

14A

15

15 7.16 3,921,290,699(BVI) 31.2% 129,333,334 31.2% 28.9% 2,000968

Codan Trust Company (Cayman) Limited

68.8% 154 3,921,290,699 3,921,290,699 68.8% 129,333,334 31.2% 28.9% 100 100 15 15155 (a) (b)

(a) (b) (i) (ii) (iii) (c)

1C 12 B4 108 29 1C 8 D2602 1C 16

33 9 41 C 278-288 A 9 4 6 9

3 50 15 29 580 45-46 200041 Conyers Dill & Pearman (Cayman) Limited Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY-1111 Cayman Islands 15 26 6 SK36-37 100022

22 398 10 19 12

XI Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 2 2 16 2 3 www.xinyisolar.com FCCA CPA 108 29

Codan Trust Company (Cayman) Limited Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 183 17 1712-16 C1016# 3 79 3 3 44 1

20,000 1631.1 1% (c-si)80% 15% 16% 17% 18%

20% (a-si) 8% (CdTe) 10% (CIGS) 10%-12% 31.1 13%... 8.0 16.6 29.3 31.1... 3.8 7.4 7.5 7.6... 0.7 2.3 9.0 3.4... 0.2 0.5 2.0 5.0... 0.5 1.0 1.1 2.5... 0.5 0.9 1.6 3.3... 2.3 4.5 8.1 9.3

26

Fe 2 O 3 0.015% Fe 2 O 3 0.001% (a) (b) (c) TCO ITO FTO AZO (d) (a) 3.2 320 1,10091% 92% (b) (c) TCO TCOTCO ITO FTO AZO TCO TCO (d)

66% 69% 90% Saint-Gobain PPG 5838 60%

1 1,500 23.9% 2,000 20.7% 2 1,150 18.3% 1,750 18.1% 3 450 7.2% 750 7.7% 4 650 10.4% 650 6.7% 5 130 2.1% 650 6.7% 6 2,395 38.2% 3,870 40.0% 6,275 100.0% 9,670 100.0% 21 50 (1) (2) (3) (4) (5) (6)

Solar World Industries America Inc.

14.78% 15.97% 18.32% 249.96% (%) (%)... 14.78 31.73... 15.97 18.32 59... 25.96... 15.24 249.96 34% EU ProSun 20 11.8% 47.6% 67.9% 97 0.56 7.0

47.6% 97 LDK EU ProSun Glass25% EU ProSun Glass

28 6.620.9 35 10 21 7

13 1622

2 410 CCC CCC

[2006]81 10%50% 10%

25% [2009]698 (i)12.5%(ii) 30 2011

300 (1) 36,000 (2) 45,000 (3) 500 27,00023,000 (1) 300 108.6 (2) 36,000 45,000 108.6 (3)

27,000 23,000 TCO 42,00019,000 500 500 42,00020,000 500 20,000 20,00020,000

21,000 42,00020,000 42,000 10 10 42,000 15 380,000 3,800,000 1 (BVI) 99 (BVI)100 100 79,996,200,000 380,000 3,800,000 8,000,000,000 80,000,000,000 2,574,013,296 3,125,986,704 5,700,000,000

(BVI) (BVI) 50,000 50,000 1.00200 (BVI) 10,000 10,000 1.00(BVI) 200 29.0 58.087.9

(BVI) (BVI) (BVI) (BVI) 135,000400,000 110,000 270,000

TCO 481.5 (BVI) 100 10.0 76.3 210.4 (BVI) 656.9 (BVI) 100 (BVI) 100 100 2,574,013,096 471.5

1,940,000 98,087,881 233,000,000 1514 0.102.38 13,000,000 3,125,986,704 437.4 68.8% 154 3,921,290,699 3,921,290,699 70.0% 129,333,334

31.2% 28.9%

3,921,290,699 (1) 3,921,290,699 3,921,290,699 68.8% 129,333,334 31.2% 28.94%

(a) (b) TCO 2,000 16 1,194 500

500 14 2,000 2,900 284,000 16 430,000

35 35 50

35 50 (a) (b)(c)... CIGS 3.2 4.0... CIGS 3.2 4.0

1... 2.5 3.2 TCO 3.2 4.0 TCO (1) TCO... 424,152 39.4 384,319 31.2 441,688 28.8 261,799 30.7 267,054 31.1... 640,045 59.4 802,186 65.0 851,817 55.6 495,656 58.1 592,178 68.9... 13,196 1.2 47,173 (1) 3.8 239,625 (1) 15.6 95,630 11.2 549 * (2)... 1,077,393 100.0 1,233,678 100.0 1,533,130 100.0 853,085 100.0 859,781 100.0 (1) 24.4 230.1 (2)

39.4% 31.2% 28.8% 30.7% 31.1% 93,015105,037168,940 92,317107,883 59.4% 65.0% 55.6% 58.1% 68.9% 86,335136,942190,795 107,389141,543 TCO TCO TCO TCOTCO TCOTCO TCO45,000 TCO TCO TCO TCO 202.2 TCO

1.2% 3.8% 15.6%2,3283,3431,544 11.2% 0.1% 30985 CE TCO 108.6 TCO 142.9TCO TCOTCO 202.2 TCOTCO TCO

(1)... 500 (2)... 500 (3)... 500 (4)... 500... 2,000 (1) (2) (3) (4)

300 108.6... 56,538 53,345... 126,917 238,524 238,152 166,010... 62,805 106,399 67,657 365 (1)... 84.0% 82.6% % (1)... 96.2% 92.0% 90.6% 97.1% (1)... 92.0% 81.3% 97.5% (1) 250 495

101,383167,381213,968 55.3% 47.2% 62.1% 118,490155,195 70.5% 66.4%... 27,000... 23,000... 27,000... 23,000... 61,000... 20,000... 20,000... 42,000... 20,000... 42,000... 42,000... 42,000... 20,000... 21,000... 430,000 36,00045,000

108.6... 74.2% 60.5%... 46.8% 48.1% 67.0% 73.2%... 32.4% 45.7% 49.7%... 35,669 29,064 5,080... 52,922 100,310 145,102 109,944... 17,777 43,400 30,799 365 (1)... 51.8% 39.3% 13.0% (1)... 78.2% 71.7% 59.1% 74.7% (1)... 58.7% 62.8% 80.1% (1)

TCOTCO TCO TCO... 680,000 500TCO 600 TCO TCO TCO 202.2

ISO 9001:2008 161

(CCC) 32... 811,745 75.3 877,679 71.1 1,245,210 81.2 699,601 82.0 701,521 81.6... 98,890 9.2 111,768 9.1 98,351 6.4 49,723 5.8 25,478 3.0... 33,536 3.1 73,937 6.0 68,156 4.4 48,609 5.7 65,755 7.6 (1)... 133,222 12.4 170,294 13.8 121,413 8.0 55,152 6.5 67,027 7.8... 1,077,393 100.0 1,233,678 100.0 1,533,130 100.0 853,085 100.0 859,781 100.0 (1) 75.3% 71.1% 81.2% 82.0% 81.6%

90 3.7 1.2 2.6 60 SNEC 4.1 3.4 0.7 0.7 0.2

16.3 32.1 44.7 1.5% 2.6% 2.9% 12.9 10.0 1.5% 1.2% 81.6 71.8 53.4 7.6% 5.8% 3.5% 33.2 9.2 3.9% 1.1% 100 38.7% 33.9% 42.0% 9.5% 10.0% 13.7% 43.6% 57.9% 14.6% 17.4% 35 41.6 71.4 488.8 350.7 5%

... GB/T19001 2008 idt ISO 9001:2008... E/V1288-3:2000 E/V TÜV Nord (Hangzhou) Company 12150-1:2000 9.4 Limited...... 3.2SPF Solartechnik Prüfung Forschung (Solartechnik Prüfung Forschung)...... 2010 TOC TCO 5.7 9.2 32.7 0.8 36.4 TCO

32.7 36.4... 19,141 26,091... 1,287 1,467... 2,618 2,802... 2,071 1,850... 664 778... 25,781 32,988 TCO... 5,614 9,072 6,522 845 2,993... 108 161 392 437... 5,722 9,233 32,695 845 36,418 C.2.

50 33.6% 60.8% 40.0% 16.2% 29.5% 20.5% 25% 5% 60 40.0% 37.4% 20.9% 21.0% 35 10 20

3060 23.9%10.4% 26.5% 24.4% 30 0.7% 0.6% 0.1%

5311696 10146 69.9 415.3 217.4 110.2 30 60

5.5 9.3 3.7 2.2 1.0 5.0 6.0 (a) (b) (c) (d)(e)

C. 2. 31 17 22 C. 2. 217,253 157,545.91 19,961161,139 28,680 3,441.6 11,000 924 (a) (b) (c)

(a) (b) TCO 2,000 16 1,194 1,077.4 1,233.7 1,533.1 480.0 390.6 142.8 859.895.0 853.1133.7 19.3%

28 6.620.9 35 10 21 7 538.7141,617 2,847 4,451 185.1 5

(a) (b) 16.0

14.5% 24.3% 853.1 680.0 0.8% 26.4% 554.7 442.6 264.2 51.5% 35.9% 17.2% 160.1 222.3 18.8% 25.9% 4,600 3,700 2,600 2,500 7,400 5,900 4,500 4,200

... 653,241 60.6 849,359 68.8 1,091,442 71.2 591,286 69.3 592,727 68.9... 424,152 39.4 384,319 31.2 441,688 28.8 261,799 30.7 267,054 31.1... 1,077,393 100.0 1,233,678 100.0 1,533,130 100.0 853,085 100.0 859,781 100.0 2,000 2,90016 1,194 484,000 577.4 878.5 347.8131.4 149.1 23.9% 10.4% 1.6% 26.5% 24.4% 17.7%

36.9% 31.3% 30.7% 30.2%29.8% 11% 12% 12.5% 15% 15.1% 18.0% 16.6% 13.4% 16.3% 5% 10% 42.7% 39.8% 4

4 (a) (b) (c)

(a) (b) (c) (i) (ii) (iii)

......... 30 5 15 3 7

(a) (b)

... 1,077,393 1,233,678 1,533,130 853,085 859,781... (522,711) (791,060) (1,268,910) (692,949) (637,493)... 554,682 442,618 264,220 160,136 222,288... 38,918 66,026 40,345 35,086 5,864... 1,852 (4,296) 2,367 710 (421)... (44,026) (46,936) (71,602) (31,693) (64,754)... (71,439) (66,798) (92,516) (30,579) (67,979)... 479,987 390,614 142,814 133,660 94,998... 193 349 929 556 866... 480,180 390,963 143,743 134,216 95,864... (72,331) (70,187) (23,894) (17,936) (15,651)... 407,849 320,776 119,849 116,280 80,213... 11.67 9.18 3.43 3.33 2.29... 11.67 9.18 3.43 3.33 2.29

... 1,170,297 1,832,045 1,654,825 1,407,509... 308,107 189,754 188,146 188,512... 152,958 21,534 20,833 25,156... 1,412... 608 928 1,115... 1,632,774 ----------------- 2,043,941 ----------------- 1,864,732 ----------------- 1,622,292 -----------------... 69,889 415,336 217,416 110,247... 241,339 431,889 641,011 543,812... 8,402 4,046 16,816 5,325... 1,531... 20,018 31,933 54,176 40,950... 339,648 883,204 930,950 700,334 ----------------- ----------------- ----------------- -----------------... 1,972,422 2,927,145 2,795,682 2,322,626... 899,850 899,850 899,850 1,371,365... (104,120) (16,970) 20,886 42,847... 527,549 37,999 144,382 224,595... 1,323,279 ----------------- 920,879 ----------------- 1,065,118 ----------------- 1,638,807 -----------------... 16,070 4,122 4,122 4,122... 85,079 25,061 11,872... 16,070 ----------------- 89,201 ----------------- 29,183 ----------------- 15,994 -----------------... 133,734 380,949 189,675 221,673... 468,476 1,500,222 1,510,971 441,212... 30,863 35,894 735 4,940... 633,073 1,917,065 1,701,381 667,825 ----------------- ----------------- ----------------- -----------------... 649,143 2,006,266 1,730,564 683,819 ----------------- ----------------- ----------------- -----------------... 1,972,422 2,927,145 2,795,682 2,322,626... (293,425) (1,033,861) (770,431) 32,509... 1,339,349 1,010,080 1,094,301 1,654,801

(a) (b)(c) TCO 1,077.4 1,233.7 1,533.1 859.8853.1 (a)(b) (c)... 424,152 39.4 384,319 31.2 441,688 28.8 261,799 30.7 267,054 31.1... 640,045 59.4 802,186 65.0 851,817 55.6 495,656 58.1 592,178 68.9... 13,196 1.2 47,173 (1) 3.8 239,625 (1) 15.6 95,630 11.2 549 * (2)... 1,077,393 100.0 1,233,678 100.0 1,533,130 100.0 853,085 100.0 859,781 100.0 (1) 24.4 230.1 (2)

424.2 384.3 441.7 267.1 261.8 4,600 3,700 2,600 2,500 640.0 802.2 851.8 592.2495.7 7,400 5,900 4,500 4,200 TCO 13.2 47.2 239.6 0.5 95.6

TCO TCO TCO TCO 24.4 230.1 TCO 202.2 (a) (b) (c)... 811,745 75.3 877,679 71.1 1,245,210 81.2 699,601 82.0 701,521 81.6... 98,890 9.2 111,768 9.1 98,351 6.4 49,723 5.8 25,478 3.0... 33,536 3.1 73,937 6.0 68,156 4.4 48,609 5.7 65,755 7.6 (1)... 133,222 12.4 170,294 13.8 121,413 8.0 55,152 6.5 67,027 7.8... 1,077,393 100.0 1,233,678 100.0 1,533,130 100.0 853,085 100.0 859,781 100.0 (1)

... 292,000 573,300 549,000 273,000 324,000... 183,455 354,674 344,551 168,019 233,668... 93,015 105,037 168,940 92,317 107,883... 101,388 167,381 213,968 118,490 155,195 (%) (1)... 91.6% 90.4% 87.5% 85.7% 97.2% (1) 365 101,383167,381213,968155,195... 157,000 276,700 380,800 186,577 204,709... 88,591 147,151 193,583 107,097 140,743... 86,335 136,942 190,795 107,389 141,543 (%) (1)... 64.6% 60.5% 56.2% 63.5% 75.8% (1) 365 2,3283,3431,544 0.2 309

522.7 791.1 1,268.9637.5 692.9... 192,871 36.9% 17.9% 247,918 31.3% 20.1% 388,974 30.7% 25.4% 206,736 29.8% 24.2% 192,268 30.2% 22.4%... 29,419 5.6% 2.7% 66,875 8.5% 5.4% 99,732 7.9% 6.5% 58,792 8.5% 6.9% 41,646 6.5% 4.8%... 56,770 10.9% 5.3% 82,654 10.4% 6.7% 130,152 10.3% 8.5% 73,391 10.6% 8.6% 83,463 13.1% 9.7%... 63,047 12.1% 5.9% 115,049 14.5% 9.3% 174,017 13.7% 11.4% 97,737 14.1% 11.5% 68,171 10.7% 7.9%... 26,434 5.1% 2.5% 52,771 6.7% 4.3% 77,399 6.1% 5.0% 41,564 6.0% 4.9% 45,681 7.2% 5.3%... 25,826 4.9% 2.4% 18,458 2.3% 1.5% 49,820 3.9% 3.2% 33,182 4.8% 3.9% 10,639 1.7% 1.2% (1)... 60,211 11.5% 5.6% 93,189 11.8% 7.6% 157,950 12.4% 10.3% 79,520 11.5% 9.3% 97,912 15.4% 11.4%... 27,844 5.3% 2.6% 36,207 4.6% 2.9% 98,159 7.7% 6.4% 51,648 7.5% 6.1% 44,577 7.0% 5.2%... 26,650 5.1% 2.5% 61,091 7.7% 5.0% 89,323 7.0% 5.8% 47,337 6.8% 5.5% 45,074 7.0% 5.2%... 13,639 2.6% 1.1% 16,848 2.2% 1.3% 3,384 0.3% 0.3% 3,042 0.4% 0.3% 8,062 1.2% 1.0%... 522,711 100.0% 48.5% 791,060 100.0% 64.1% 1,268,910 100.0% 82.8% 692,949 100.0% 81.2% 637,493 100.0% 74.1% (1) 6.3% 192.3 22.4% 24.2% 5.0% 9.6 12.4 19.4 9.6

29.4 66.9 99.7 127.3% 49.1%41.6 58.829.2% 23.9% 10.4% 26.5% 24.4% 305.9 325.46.0% 5.0% 11.6 18.1 29.5 15.3 30.0% 171.1% 36.2 98.2 44.6 51.6 26.7 61.1 89.3 45.1 47.3

9231,536 1,1591,251... 221,749 52.3 127,512 33.2 51,577 11.7 40,404 15.4 33,788 12.7... 330,661 51.7 302,487 37.7 194,799 22.9 110,152 22.2 188,793 31.9... 2,272 17.2 12,619 26.8 17,844 7.4 9,580 10.0 (293)... 554,682 51.5 442,618 35.9 264,220 17.2 160,136 18.8 222,288 25.9 554.7 442.6 264.2 51.5% 35.9% 17.2% 222.3 160.1 25.9% 18.8%

25.9% 18.8% 38.9 66.0 40.35.9 35.1 37.6 62.7 38.1 4.6 24.4 46.4 20.5 0.07... 44,026 4.1 46,936 3.8 71,602 4.7 31,693 3.7 64,754 7.5... 71,439 6.6 66,798 5.4 92,516 6.0 30,579 3.6 67,979 7.9... 115,465 10.7 113,734 9.2 164,118 10.7 62,272 7.3 132,733 15.4... 26,124 2.4 32,380 2.6 53,980 3.5 22,370 2.6 54,401 6.3... 6,727 0.6 3,966 0.3 7,314 0.5 4,396 0.5 4,926 0.6... 4,056 0.4 3,431 0.3 656 0.1 603 0.1 213... 7,119 0.7 7,159 0.6 9,652 0.6 4,324 0.5 5,214 0.6... 44,026 4.1 46,936 3.8 71,602 4.7 31,693 3.7 64,754 7.5

44.0 46.9 71.6 4.1% 3.8% 4.7% 64.8 7.5%... 22,936 32.1% 21,251 31.8% 17,564 19.0% 9,430 30.8% 12,955 19.1%... 12,291 17.2% 12,358 18.5% 11,726 12.7% 5,695 18.6% 6,184 9.1%... 9,138 12.8% 7,446 11.2% 7,807 8.4% 4,083 13.4% 3,652 5.4%... 7,776 10.9% 9,751 14.6% 13,122 14.2% 7,085 23.2% 5,159 7.6%... 5,721 8.0% 9,233 13.8% 32,695 35.3% 845 2.8% 36,418 53.5%... 4,005 5.6% (3,253) (4.9%) 602 0.7% (205) (0.7%) (711) (1.1%)... 2,553 3.6% 0.0% 0.0% 0.0% 0.0%... 0.0% 9,502 14.2% 3,144 3.4% 643 2.1% 1,150 1.7% (1)... 7,019 9.8% 510 0.8% 5,856 6.3% 3,003 9.8% 3,172 4.7%... 71,439 100.0% 66,798 100.0% 92,516 100.0% 30,579 100.0% 67,979 100.0% (1) 71.4 66.8 92.5 6.6% 5.4% 6.0%

32.7 TCO 32.7 36.4... 19,141 26,091... 1,287 1,467... 2,618 2,802... 2,071 1,850... 664 778... 25,781 32,988 TCO... 5,614 9,072 6,522 845 2,993... 108 161 392 437... 5,722 9,233 32,695 845 36,418 480.0 390.6 142.844.6% 31.7% 9.3% 95.0 11.0% 133.7 15.7%

480.2 391.0 143.7 95.9 134.2 72.3 70.2 23.9 15.1% 18.0% 16.6% 15.7 16.3%17.9 13.4% 6.5 7.8 2.6 1.6 0.4 16.5% 49.8 48.2 21.6 16.5 15.5 25% 15%

... 480,180 390,963 143,743 134,216 95,864... 112,169 85,716 35,508 32,970 24,018... (56,711) (33,995) (17,076) (16,118) (9,392)... (188) 69... (821) (326) (423) (433)... 1,624 4,184 5,816 1,517 1,025... 16,070 14,796... 72,331 70,187 23,894 17,936 15,651 407.8 320.8 119.837.9% 26.0% 7.8% 80.2 9.3% 116.3 13.6% 853.16.7 0.8% 859.8 (a) 16.9% 92,317 107,883(b) 31.8%

107,389 141,543 48,935 5.4% 2.0% 692.955.4 8.0%637.5 325.419.5 6.0% 305.9 265.531.6 11.9% 233.9 47.32.2 4.8% 45.1 51.67.0 13.7% 44.6 81.2% 74.1% 160.1 62.2 38.8%222.3 18.8% 25.9% 35.129.2 83.3% 5.9 20.1 31.733.1 104.3%64.8

22.4 54.4 0.5 3.7% 7.5% 30.637.4 122.3%68.0 (a) 0.8 36.4(b) 9.4 13.03.6% 7.9% 133.7 38.7 28.9%95.0 15.7% 11.0% 134.2 38.4 28.6%95.9 15.7%11.1% 17.92.2 12.7%15.7 80.2 116.336.1 31.0% 13.6% 9.3% 1,233.7299.4 24.3% 1,533.160.8% 105,037 168,94039.3%

136,942 190,795 12,803 128,259 791.1477.8 60.4% 1,268.9 362.1227.2 62.7% 589.3 314.8 173.9 55.2% 488.7 61.1 28.2 46.2% 89.3 36.262.0 171.3% 98.2 64.1% 82.8% 442.6178.4 40.3% 264.2 35.9% 17.2% 66.025.7 38.9% 40.3 46.420.5 46.924.7 52.6% 71.6 32.4 54.0 0.6 3.8% 4.7% 66.825.7 38.5% 92.5 (a) 9.2 32.7(b) 21.3 17.6(c) 12.411.7 5.4% 6.0%

390.6247.8 63.4% 142.8 31.7% 9.3% 391.0247.3 63.2% 143.7 31.7% 9.4% 70.246.3 66.0% 23.9 119.8320.8 201.0 62.6%26.0% 7.8% 1,077.4156.3 14.5% 1,233.7(a) 12.9% 93,015 105,037 (b) 58.6% 86,335 136,942 47.2 13.2 522.7268.4 51.3% 791.1 48.5% 64.1% 554.7112.1 20.2% 442.6 51.5% 35.9% 38.9 66.0 44.02.9 6.6% 46.9

26.132.4 4.13.4 4.1% 3.8% 71.44.6 6.5% 66.8 4.0 3.3 9.5 6.6%5.4% 480.089.4 18.6% 390.6 44.6% 31.7% 480.289.2 18.6% 391.044.6%31.7% 72.32.1 2.9% 70.2 320.8407.8 87.0 21.3% 37.9% 26.0% (a) (b) TCO

(a)... 3,825 4,727 1,125 451 (b)... 13,470 28,978 17,037 6,727 12,997 (c)... 69,650 43,860 (d)... 286 7,755 11,318 5,672 4,297 (a) 20%25% 32(b) (a)... 4,260 8,018 2,018 5 29 (b)... 10,825 48,954 8,697 6,340 9,066 (c)... 1,720 156 (d)... 40 40 181,266 52,258 (e)... 10,466 15,812 8,417 639 16,047 (f)... 3,721 1,172 2,637 1,314 (g)... 400 586 293 248 (h)... 2,533 (i)... 341,255 (j)... 582,009 248,665 179,357 (k)... 136,081

(a) (h) (d) TCOTCO TCO 202.2 (j) (i) (j) (j) 142.9 TCO TCO TCO (k) 108.6

(1)... 18 32 65 53 70 (2)... 10 17 23 11 35 (3)... 23 34 21 23 12 (4) (5)... 53 116 96 101 46 (%) (6)... 39.3 28.6 12.1 12.0 5.9 (1) (2) (3) (4) (5) (6)

... -26.7% 28.3% -26.7% 28.3% -26.7% 28.3% -26.7% 28.3%... 1,077,393 793,594 1,378,335 1,233,678 917,262 1,569,208 1,533,130 1,188,179 1,898,919 859,781 630,642 1,102,762... 554,682 270,883 855,624 442,618 126,202 778,148 264,220 (80,731) 630,009 222,288 (6,851) 465,269... 51.5% 34.1% 62.1% 35.9% 13.8% 49.6% 17.2% -6.8% 33.2% 25.9% -1.1% 42.2%... 407,849 166,800 663,459 320,776 61,164 596,071 119,849 (167,762) 424,834 80,213 (111,516) 283,524... 37.9% 21.0% 48.1% 26.0% 6.7% 38.0% 7.8% -14.1% 22.4% 9.3% -17.7% 25.7%... 10.6% -6.3% 10.6% -6.3% 10.6% -6.3% 10.6% -6.3%... 1,077,393 1,077,393 1,077,393 1,233,678 1,233,678 1,233,678 1,533,130 1,533,130 1,533,130 859,781 859,781 859,781... 554,682 534,735 566,493 442,618 417,575 457,447 264,220 230,316 284,297 222,288 202,006 234,298... 51.5% 49.6% 52.6% 35.9% 33.8% 37.1% 17.2% 15.0% 18.5% 25.9% 23.5% 27.3%... 407,849 390,907 417,881 320,776 300,229 332,943 119,849 91,581 136,589 80,213 63,242 90,262... 37.9% 36.3% 38.8% 26.0% 24.3% 27.0% 7.8% 6.0% 8.9% 9.3% 7.4% 10.5%... 23.9% -10.4% 23.9% -10.4% 23.9% -10.4% 23.9% -10.4%... 33.4% -24.4% 33.4% -24.4% 33.4% -24.4% 33.4% -24.4%... 1,077,393 1,077,393 1,077,393 1,233,678 1,233,678 1,233,678 1,533,130 1,533,130 1,533,130 859,781 859,781 859,781... 554,682 520,757 575,547 442,618 386,947 477,714 264,220 190,544 310,470 222,288 179,595 247,603... 51.5% 48.3% 53.4% 35.9% 31.4% 38.7% 17.2% 12.4% 20.3% 25.9% 20.9% 28.8%... 407,849 379,034 425,571 320,776 275,099 349,571 119,849 58,420 158,411 80,213 44,490 101,395... 37.9% 35.2% 39.5% 26.0% 22.3% 28.3% 7.8% 3.8% 10.3% 9.3% 5.2% 11.8%

41.0... 473,963 (10,409) 86,513 116,504 364,064... (498,244) (852,353) (308,579) (133,922) (90,924)... 21,794 873,689 244,042 37,622 (286,920)... (2,487) 10,927 21,976 20,204 (13,780)... 21,736 20,018 31,933 31,933 54,176... 769 988 267 (258) 554... 20,018 31,933 54,176 51,879 40,950

... 480,180 390,963 143,743 134,216 95,864... 1,284 2,550 3,632 2,151 3,506... (193) (349) (929) (556) (866)... 35,850 46,346 107,536 56,167 49,565... 4,285 2,219 2,349 1,177 1,196... 8,128 (2,737) 611 (205) (711) 529,534 438,992 256,942 192,950 148,554... 5,330 (328,653) 189,653 101,841 103,569... (99,413) (187,297) (209,724) (102,107) 93,046... 38,250 105,188 (103,119) (51,025) 30,073... 10,639 5,911 13,572 11,012 (1,076)... 484,340 34,141 147,324 152,671 374,166... (10,377) (44,550) (60,811) (36,167) (10,102)... 473,963 (10,409) 86,513 116,504 364,064 364.1 (i) 95.9 (ii)30.1 (iii)103.6 (iv) 93.0 116.5 (i) 134.2 (ii) 101.8 (i) 51.0 (ii) 102.1 86.5(i) 143.7 (ii)189.7 (i) 209.7

(ii) 103.1 10.4(i) 391.0 (ii) 105.2(i)328.7 (ii) 187.3 474.0(i) 480.2 (ii)38.3 99.4... (550,290) (819,357) (347,798) (149,087) (131,374)... (27,070) (59,164)... 65,666 (89,804) (12,062) (471) 14,487... 193 349 929 556 866... 14,998 116,098 50,352 15,080 25,097... (1,412)... (329) (475)... (498,244) (852,353) (308,579) (133,922) (90,924) 90.9 131.4 (i) 14.5 (ii) 25.1 133.9 149.1 15.1

308.6 347.8 12.1 50.4 852.4 878.5 89.8116.1 498.2 577.4(i)15.0(ii) 65.7... 97,163 32,266... 1,851 1,851... (75,369) 841,423 242,191 35,771 (286,920)... 21,794 873,689 244,042 37,622 (286,920) 286.9 37.6 35.8 1.9 244.0 242.2 1.9 873.7 841.4 32.3 21.897.2 75.4

577.4 878.5 347.8 131.4 149.1... 27,070 59,164... 550,290 819,357 347,798 149,087 131,374... 577,360 878,521 347,798 149,087 131,374 336.8 293.4 1,033.9 770.4 468.5 1,500.2 1,511.0 32.5121.1 5,699,999,800 908.9

... 110,247 103,386... 543,812 553,253... 5,325 7,685... 40,950 24,790... 221,673 255,781... 441,212 303,668... 4,940 8,601... 32,509 121,064 69.9 415.3 217.4 110.2 80.0%... 32,159 46.0 93,986 22.6 72,951 33.6 53,903 48.9... 8,313 11.9 26,744 6.4 14,581 6.7 13,144 11.9... 29,417 42.1 294,606 71.0 129,884 59.7 43,200 39.2... 69,889 100.0 415,336 100.0 217,416 100.0 110,247 100.0 15 60

531169646 46 3.9 1.7 TCO 75.2% 100.0% 97.4% 60 56.9 159.9 387.4 280.1 180.8% 142.3% 27.7% 280.1 90 183265 70 42.7 72.2 119.8 213.3 10172335

54.0 152.1 87.2 5.0 4.0 3.3 0.6 0.7... 87,185 87.5 121,979 52.5 229,894 45.3 364,147 73.8 90... 12,479 12.5 59,246 25.5 125,539 24.8 97,653 19.8 91 180... 23 0.0 45,200 19.5 73,883 14.6 21,448 4.3 180... 4 0.0 5,713 2.5 77,850 15.3 10,135 2.1... 99,691 100.0 232,138 100.0 507,166 100.0 493,383 100.0 129.2 10.6 493.4392.8 79.6% 133.7 380.9 189.7 221.7

60 23342112 12... 52,102 52.7 192,386 71.5 104,201 67.9 105,897 61.6... 14,886 15.1 25,492 9.5 24,516 16.0 28,057 16.3... 7,954 8.0 18,519 6.9 8,870 5.8 10,459 6.1... 2,114 2.1 20,134 7.5 6,951 4.5 10,814 6.3... 1,040 1.1 3,245 1.2 1,056 0.6 5,526 3.2... 16,610 16.8 5,451 2.0 2,605 1.7 3,297 1.9... 4,175 4.2 3,673 1.4 5,357 3.5 7,789 4.6... 98,881 100.0 268,900 100.0 153,556 100.0 171,839 100.0 98.9 268.9 153.6 171.898.9 268.9 48.9 98.2%

468.5 1,500.2 1,511.0 441.2 8.4 4.0 16.8 5.3 435.9 296.0 12... 7.0 7.0 47.2 284.1 686.2 200.0 253.2

296.0 (a) (b) 13,000,000 3,125,986,704 32 441.1

(i)(ii)... 391,622...... (2,492)......... 389,130... 52,010... 441,140 421.8

1.0% 285,000 137,000 416,000 588,000 25 42,000 67,000 111,000 85,000 60 39% 34% 42% 58% 41% 23% 46% 70%

12 12 4.29 (1) (2) (3) (4) (5)(6) 5,700,000,000 1,638,807 21,204 13,000 437,440 2,042,043 0.36 (1) 1,638.8 (2)

(3) 13,000,000 (4) 437.43,125,986,704 (5) 5,700,000,000 (6) 35.0 13.13 13.19

61 (1)(2)(3)... (1)(3)... 48 (2)(3)... 37... 58... 56 (2)(3)... 36... 62... 66 1. 2. 3.

... 30 61 25 Realbest 48 25 2006 37 14

58 56 TCO TCO 19 36 62 30 Leach & Co., Chartered Accountants Mitsubishi UFJ Securities (HK) Holdings, Limited 8185 Forterra Real Estate Pte. Ltd Forterra Real Estate Pte. Ltd Forterra Trust Forterra TrustLG2U.SI

66 00109 30 13.51(2)... 44... 34... 51 44 34

51 16 3.21C.3 3.10(2)3.21 A.5 3.25B.1 3.4 4.4 5.1

3.8 6.1 8.0 1,550... 1,251... 32... 161... 62... 44... 1,550 3A.19 3A.23

11,000 26,000 2,496,000 26,000 1.8 3.1 1.6 2.1 11,000 924,000 28,680 36,370

4,364,400 36,370 4.0 5.4 2.7 3.7 28,680 3,441,600 11,000 600 924,000 14A.25 5% 14A.34

14A.42(3) 14A.34... 5,900... 1,910 5,830 6,120 7,810 5,830 6,120... 410 1,240 1,300 1.01.28 1.01.331.01.40 14A.35(1) 14A.35(2) 14A.36 14A.37 14A.38 14A.39 14A.40 (i) (ii) (i) (ii)

...............

5.0% 1.8% 18.0% 2.7% 0.09 18.0% 4.2% TCO 202.2

67.9 163.5 146.413.0% 20.7% 11.5% 40.2 71.45.8% 11.2% 162.1 339.5 341.131.0% 42.9% 26.9% 183.8 177.826.5% 27.9%

5% 27.9% 27.9% 27.9% 27.9% 22.3% 63.8% 48.0% 16.2% 21.6% 12.1% (a) (i) A (ii)

(b) (c) (d) (BVI) (BVI) 30% (a) 5%

(b) 60 (i)(ii) (a) (b) (c) (d) 30% (90) 8.10

(BVI) 68.8% 3,921,290,699 (%)... 1,778,709,301 31.205 (BVI)... 1,778,709,301 31.205... 1,778,709,301 31.205... 36.390... 725,209,552 12.723 32,912,000 0.577 (1) 2,074,251,059 36.390... 266,766,546 4.680 19,900,000 0.349 (1) 2,074,251,059 36.390... 246,932,579 4.332 48,064,000 0.843 (1) 2,074,251,059 36.390... 251,595,089 4.414 19,770,000 0.347 (1) 2,074,251,059 36.390... 116,580,868 2.045 (1) 2,074,251,059 36.390... 74,041,911 1.387 1,540,000 0.027 (1) 2,074,251,059 36.390... 105,630,781 1.853 (1) 2,074,251,059 36.390... 77,853,912 1.366 2,200,000 0.039 (1) 2,074,251,059 36.390... 77,853,911 1.366 2,400,000 0.042 (1) 2,074,251,059 36.390 (1)

(BVI) (BVI) (BVI)... a 725,209,552 18.494 b 32,912,000 0.839... c 266,766,456 6.803 d 19,900,000 0.507... n 251,595,089 6.416 19,770,000 0.504... e 246,932,579 6.297 f 46,064,000 1.226... g 116,580,868 2.973... h 105,630,781 2.694... i 77,853,912 1.985 2,200,000 0.056... j 79,041,911 2.016 k 1,540,000 0.039... l 77,853,911 1.985 2,000,000 0.051 m 400,000 * * (a) (b) (c) Realbest Investment LimitedRealbest High Park Technology LimitedHigh Park

(d) (e) (f) (g) (h) (i) (j) (k) (l) (m) (n) Copark Investment LimitedCopark Goldbo International LimitedGoldbo Goldpine LimitedGoldpine Linkall Investment LimitedLinkall Perfect All Investments LimitedPerfect All Herosmart Holdings LimitedHerosmart Telerich Investment LimitedTelerich 10.07 (a) (b) 30% (a) (b) 155

80,000,000,000... 8,000,000,000 5,700,000,000... 570,000,000 20.0% (i) (ii) (iii) A. 4. 10.0%

(i) (ii) (iii) A. 5. 10.08 10.08

2,900 484,000 35 50 284.1 686.2 200.0

3.340 I III 22 3 I 2 I 2

I 2 3.340 I III I 4 2410

I 4 3... 7 1,077,393 1,233,678 1,533,130 853,085 859,781... 9 (522,711) (791,060) (1,268,910) (692,949) (637,493)... 554,682 442,618 264,220 160,136 222,288... 7 38,918 66,026 40,345 35,086 5,864... 8 1,852 (4,296) 2,367 710 (421)... 9 (44,026) (46,936) (71,602) (31,693) (64,754)... 9 (71,439) (66,798) (92,516) (30,579) (67,979)... 479,987 390,614 142,814 133,660 94,998... 193 349 929 556 866... 480,180 390,963 143,743 134,216 95,864... 11 (72,331) (70,187) (23,894) (17,936) (15,651)... 407,849 320,776 119,849 116,280 80,213... 12 11.67 9.18 3.43 3.33 2.29... 12 11.67 9.18 3.43 3.33 2.29... 13 514,423

... 407,849 320,776 119,849 116,280 80,213... 38,204 57,213 20,130 (17,848) 20,650... 446,053 377,989 139,979 98,432 100,863

... 14 1,170,297 1,832,045 1,654,825 1,407,509... 15 308,107 189,754 188,146 188,512... 152,958 21,534 20,833 25,156... 16 1,412... 26 608 928 1,115... 1,632,774 ---------------- 2,043,941 ---------------- 1,864,732 ---------------- 1,622,292 ----------------... 17 69,889 415,336 217,416 110,247... 18 241,339 431,889 641,011 543,812... 32(c) 8,402 4,046 16,816 5,325... 1,531... 19 20,018 31,933 54,176 40,950... 339,648 ---------------- 883,204 ---------------- 930,950 ---------------- 700,334 ----------------... 1,972,422 2,927,145 2,795,682 2,322,626... 20 899,850 899,850 899,850 1,371,365... 21 (104,120) (16,970) 20,886 42,847... 527,549 37,999 144,382 224,595... 1,323,279 920,879 1,065,118 1,638,807 ---------------- ---------------- ---------------- ----------------... 26 16,070 4,122 4,122 4,122... 27 85,079 25,061 11,872... 16,070 89,201 29,183 15,994 ---------------- ---------------- ---------------- ----------------... 25 133,734 380,949 189,675 221,673... 32(c) 468,476 1,500,222 1,510,971 441,212... 30,863 35,894 735 4,940... 633,073 ---------------- 1,917,065 ---------------- 1,701,381 ---------------- 667,825 ----------------... 649,143 ---------------- 2,006,266 ---------------- 1,730,564 ---------------- 683,819 ----------------... 1,972,422 2,927,145 2,795,682 2,322,626... (293,425) (1,033,861) (770,431) 32,509... 1,339,349 1,010,080 1,094,301 1,654,801

... 23 899,850 ---------------- 899,850 ---------------- 899,850 ----------------... 23 10 10 459,490... 24 2,079... 1,000... 19 99 59 58... 1,109 2,148 459,548 ---------------- ---------------- ----------------... 900,959 901,998 1,359,398... 20 899,850 899,850 1,371,365... 21 1,851 1,851... 22 (9,638) (13,156) (14,473)... 890,212 ---------------- 888,545 ---------------- 1,358,743 ----------------... 42 105 655... 24 10,705 13,348... 10,747 13,453 655 ---------------- ---------------- ----------------... 900,959 901,998 1,359,398... (9,638) (11,305) 458,893... 890,212 888,545 1,358,743

20 20 21(a) 21(e) 21(f)... 899,850 (316,659) 1,916 1,095 14,826 (298,822) 152,558 753,586... 407,849 407,849... 38,204 38,204 38,204... 38,204 38,204 407,849 446,053 21(b)... 122,356 122,356 122,356... 1,284 1,284 1,284... 32,858 32,858 (32,858)... 899,850 (194,303) 34,774 2,379 53,030 (104,120) 527,549 1,323,279

20 20 21(a) 21(e) 21(f)... 899,850 (194,303) 34,774 2,379 53,030 (104,120) 527,549 1,323,279... 320,776 320,776... 57,213 57,213 57,213... 57,213 57,213 320,776 377,989 21(b)... 46,062 46,062 46,062 21(c)... (61,688) (12,398) (74,086) (267,169) (341,255). 434 (434)... (67) (67) (67)... 2,550 2,550 2,550 21(d)... 26,744 26,744 (514,423) (487,679)... 28,734 28,734 (28,734)... 899,850 (209,495) 26,744 63,508 4,428 97,845 (16,970) 37,999 920,879

20 2021(a) 21(e)21(f)21(g)... 899,850 (209,495) 26,744 63,508 4,428 97,845 (16,970) 37,999 920,879... 119,849 119,849... 20,130 20,130 20,130... 20,130 20,130 119,849 139,979... 1,851 1,851 1,851... (1,223) (1,223) (1,223)... 3,632 3,632 3,632... 13,466 13,466 (13,466)... 899,850 (209,495) 26,744 76,974 6,837 1,851 117,975 20,886 144,382 1,065,118

20 2021(a) 21(e)21(f)21(g)... 899,850 (209,495) 26,744 63,508 4,428 97,845 (16,970) 37,999 920,879... 116,280 116,280... (17,848) (17,848) (17,848)... (17,848) (17,848) 116,280 98,432... 1,851 1,851 1,851... (282) (282) (282)... 2,151 2,151 2,151... 899,850 (209,495) 26,744 63,508 6,297 1,851 79,997 (31,098) 154,279 1,023,031... 899,850 (209,495) 26,744 76,974 6,837 1,851 117,975 20,886 144,382 1,065,118... 80,213 80,213... 20,650 20,650 20,650... 20,650 20,650 80,213 100,863... 257,401 214,114 471,515... (2,195) (2,195) (2,195)... 3,506 3,506 3,506... 257,401 1,113,964 (209,495) 26,744 76,974 8,148 1,851 138,625 42,847 224,595 1,638,807

... 28(a) 484,340 34,141 147,324 152,671 374,166... (10,377) (44,550) (60,811) (36,167) (10,102)... 473,963 (10,409) 86,513 116,504 364,064... (550,290) (819,357) (347,798) (149,087) (131,374)... (27,070) (59,164)... 14 14,998 116,098 50,352 15,080 25,097... (1,412)... 65,666 (89,804) (12,062) (471) 14,487... (329) (475)... 193 349 929 556 866... (498,244) (852,353) (308,579) (133,922) (90,924)... 97,163 32,266... 1,851 1,851... (75,369) 841,423 242,191 35,771 (286,920)... 21,794 873,689 244,042 37,622 (286,920)... (2,487) 10,927 21,976 20,204 (13,780)... 21,736 20,018 31,933 31,933 54,176... 769 988 267 (258) 554... 19 20,018 31,933 54,176 51,879 40,950

1 22 3 Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands 2 Xinyi Glass Deutschland GmbH (a) (b) (c) (d) (e) Xinyi Automobile Glass (BVI) Company Limited(BVI) (BVI)(BVI) (BVI) 76,302,000 90,836,000

(f) 210,352,000 250,419,000 (g) 481,486,000 582,009,000 (h) (BVI) 10 100 (i) 421,826,000 514,423,000 (j) (BVI) 656,877,000 791,418,000 (BVI) 100 (BVI)100 100 (k) 100 0.1 (l) 380,000 8,000,000,000 80,000,000,000 0.1 (m) 87.9 154.2 (n) 2,574,013,096 0.1 471,515,000

(BVI) 50,000 100% (i) (i) (i) 200 1 10,000 100% (i) (ii) (ii) 200 1 100% (iii) (iv) (iv) 154,200,000 (i) (ii) (iii) (iv) 3 5

(a) 2 32(b)(vi) 32(b)(ii) 32(b)(ii) (b) (i) 16.0

4 4.1 6 36... 39... 10 12 27... 32... 7 9... 9... 21... 4.2 (a)

(b) (c) (d)

(e) 20% 50% 4.3

4.4 (a) (b) (c) (i) (ii) (iii) 4.5

... 30... 5 15... 3 7 4.7 4.6 4.7 4.8

12 4.12 4.13 4.9 4.10 4.11

4.12 4.13 4.14 4.15 4.16 4.17

4.18 4.19 (a) (b)

(c) 4.20 (a) (b) (c) 4.21 (a) (b)

(c) 4.22 (a) (b)

4.23 4.24 4.25 18 4.26

5 5.1 (a) (i) 1% 285,000 137,000 416,000 588,000 18 19 (ii) 25 42,000 67,000 111,000 85,000 (b)... 163,752 428,023 635,412 531,776 32(c)... 8,402 4,046 16,816 5,325 19... 19,817 31,655 53,937 40,809... 191,971 463,724 706,165 577,910

90 39% 34% 42% 44% 58% 41% 23% 46% 70% (c)

12 12... 109,854 333,693 155,233 177,631 32(c)... 468,476 1,500,222 1,510,971 441,212 578,330 1,833,915 1,666,204 618,843... 105 655 24... 10,705 13,348 10,705 13,453 655 5.2... 19... 20,018 31,933 54,176 40,950... (20,018) (31,933) (54,176) (40,950)... 1,323,279 920,879 1,065,118 1,638,807... 5.3

6 (a) 3 (b) (i) (ii) (c) (d)

(e) 7... 424,152 384,319 441,688 261,799 267,054... 640,045 802,186 851,817 495,656 592,178... 13,196 47,173 239,625 95,630 549 1,077,393 1,233,678 1,533,130 853,085 859,781... 129 14 (a)... 37,576 62,741 38,132 33,811 4,641... 1,213 3,271 2,213 1,275 1,223 38,918 66,026 40,345 35,086 5,864 (a) 14

(1) (2)(3)... 424,152 640,045 13,196 1,077,393... (202,403) (309,384) (10,924) (522,711)... 221,749 330,661 2,272 554,682... 384,319 802,186 47,173 1,233,678... (256,807) (499,699) (34,554) (791,060)... 127,512 302,487 12,619 442,618... 441,688 851,817 239,625 1,533,130... (390,111) (657,018) (221,781) (1,268,910)... 51,577 194,799 17,844 264,220

... 261,799 495,656 95,630 853,085... (221,395) (385,504) (86,050) (692,949)... 40,404 110,152 9,580 160,136... 267,054 592,178 549 859,781... (233,266) (403,385) (842) (637,493)... 33,788 188,793 (293) 222,288... 554,682 442,618 264,220 160,136 222,288... 38,918 66,026 40,345 35,086 5,864... 1,852 (4,296) 2,367 710 (421)... (44,026) (46,936) (71,602) (31,693) (64,754)... (71,439) (66,798) (92,516) (30,579) (67,979)... 193 349 929 556 866... 480,180 390,963 143,743 134,216 95,864

... 811,745 877,679 1,245,210 699,601 701,521... 98,890 111,768 98,351 49,723 25,478... 33,536 73,937 68,156 48,609 65,755... 133,222 170,294 121,413 55,152 67,027 1,077,393 1,233,678 1,533,130 853,085 859,781 10% 210,800,000 A124,793,000 99,955,000 A B 149,421,000 147,183,000 100,291,000A B C 8... 2,120 (2,128) 2,376 710 (421)... (268) (9)... (2,168) 1,852 (4,296) 2,367 710 (421)

9... 271 629 600 300 560 14... 35,850 46,346 107,536 56,167 49,565 15... 4,285 2,219 2,349 1,177 1,196 10... 52,449 84,280 109,604 58,085 59,248... 415,324 953,406 775,588 621,334 389,038... 9,835 (345,447) 197,920 (90,849) 107,169 17... 425,159 607,959 973,508 530,485 496,207... 685 7,725 11,319 5,671 4,297 17... 3,855 (1,652)... 9,502 3,144 643 1,150 18(b)... 4,005 (3,253) 602 (205) (711)... 30,180 35,811 54,637 22,973 54,401... 5,721 9,233 32,695 845 36,418... 75,716 105,995 137,034 79,080 67,895 638,176 904,794 1,433,028 755,221 770,226

10... 45,525 70,217 91,933 48,660 48,766 (i)... 5,640 11,513 14,039 7,274 6,976 21(f)... 1,284 2,550 3,632 2,151 3,506 52,449 84,280 109,604 58,085 59,248 (i) 5%1,250 1,000 (a) (i)... 43 8 797 848... 43 858 374 2 1,277... 43 235 150 2 430............ 373 272 5 204 854............ 129 1,474 1,593 9 204 3,409

(i)......... 2,430 1,154 12 3,596............ 468 110 16 214 808... 15 15... 15 15... 15 15... 45 2,898 1,264 28 214 4,449 (i)......... 2,487 1,154 14 3,655............ 557 17 636 1,210... 67 67... 67 67... 67 67... 201 3,044 1,154 31 636 5,066

(i)......... 1,227 577 6 1,810............ 276 9 123 408... 50 50... 50 50... 50 50... 150 1,503 577 15 123 2,368 (i)......... 1,319 577 8 1,904............ 305 148 435 888... 1,624 725 8 435 2,792

(i)....................................... 3 (ii) (iii) (b) 42222 13333... 323 1,269 1,987 991 970... 10 50 52 26 27... 70 335 1,066 707 726 403 1,654 3,105 1,724 1,723

1,000,000... 1 3 2 3 3 1,000,001 1,500,000... 1 1 3 3 3 3 (i) 11 (ii)... 6,481 7,824 2,607 1,550 358 (iii)... 49,780 48,175 21,607 16,539 15,479 26... 16,070 14,188 (320) (153) (186)... 72,331 70,187 23,894 17,936 15,651 (i) (ii) (iii) 223 16.5% 25% 11% 12% 12.5% 15%

12.5% 15%... 480,180 390,963 143,743 134,216 95,864... 112,169 85,716 35,508 32,970 24,018... (56,711) (33,995) (17,076) (16,118) (9,392)... (188) 69... (821) (326) (423) (433)... 1,624 4,184 5,816 1,517 1,025... 16,070 14,796... 72,331 70,187 23,894 17,936 15,651 23.4% 21.9% 24.7% 24.6% 25.0% 12... 407,849 320,776 119,849 116,280 80,213 *... 3,494,869,912 3,494,869,912 3,494,869,912 3,494,869,912 3,500,360,918... 11.67 9.18 3.43 3.33 2.29

* 20(d) 34(b) 13 421.8 514.4 14... 112,677 429,952 5,517 147,447 695,593... (21,886) (289) (22,175)... 112,677 408,066 5,228 147,447 673,418... 112,677 408,066 5,228 147,447 673,418... 6,636 9,375 280 493,415 509,706... 156,506 32,842 (189,348)... (268) (268)... (5,525) (29,314) (361) (35,200)... 3,831 13,367 176 5,267 22,641... 274,125 434,068 5,323 456,781 1,170,297... 279,797 486,710 5,992 456,781 1,229,280... (5,672) (52,642) (669) (58,983)... 274,125 434,068 5,323 456,781 1,170,297

... 274,125 434,068 5,323 456,781 1,170,297... 336 184,599 208 859,919 1,045,062... 221,387 838,796 (3,613) (1,056,570)... (297,304) (1,552) (71,523) (370,379)... (4,482) (56,621) (385) (61,488)... 6,196 21,053 263 21,041 48,553... 200,258 1,420,343 1,796 209,648 1,832,045... 200,986 1,531,843 2,883 209,648 1,945,360... (728) (111,500) (1,087) (113,315)... 200,258 1,420,343 1,796 209,648 1,832,045... 200,258 1,420,343 1,796 209,648 1,832,045... 6,488 12,004 132,524 151,016... 64,373 (64,373)... (248,595) (79) (248,674)... (5,758) (93,196) (315) (99,269)... 2,515 13,498 18 3,676 19,707... 203,503 1,168,427 1,499 281,396 1,654,825... 210,094 1,359,933 2,916 281,396 1,854,339... (6,591) (191,506) (1,417) (199,514)... 203,503 1,168,427 1,499 281,396 1,654,825

... 203,503 1,168,427 1,499 281,396 1,654,825... 7,242 83,741 90,983... 62,686 (62,686)... (120,641) (19) (189,913) (310,573)... (2,938) (42,892) (135) (45,965)... 2,545 13,921 15 1,758 18,239... 203,110 1,088,743 1,360 114,296 1,407,509... 212,753 1,270,179 2,778 114,296 1,600,006... (9,643) (181,436) (1,418) (192,497)... 203,110 1,088,743 1,360 114,296 1,407,509... 27,844 36,207 98,159 51,648 44,577... 8,006 10,139 9,377 4,519 4,988 35,850 46,346 107,536 56,167 49,565... 2,751 17,893 9,626 6,026

... 85,079 85,079 25,061... 14,998 116,098 50,352 15,080 25,097... (14,998) (33,674) (112,164) (11,629) (38,562)... 2,655 1,794 (1,038) 276 27... 85,079 25,061 87,492 11,872 15... 302,846 308,107 189,754 188,146... 86,234... (211,630)... (5,335) (5,076) (3,915) (1,994)... 10,596 12,119 2,307 2,360... 308,107 189,754 188,146 188,512 1050 1,050,000 2,857,000 1,566,000 764,000 798,000 4,285,000 2,219,000 2,349,000 1,177,000 1,196,000

16... 1,412... 1,412... (1,412)... 1,412 32(c) (i)... 329 (i):... 40% 3,000,000... 1,669... 257

17... 32,159 93,986 72,951 53,903... 8,313 26,744 14,581 13,144... 29,417 294,606 129,884 43,200 69,889 415,336 217,416 110,247 425,159,000 607,959,000 973,508,000 530,485,000 496,207,000 3,855,000 1,652,000 18... 56,943 159,890 387,382 280,070... 42,748 72,248 119,784 213,313 (a)... 99,691 232,138 507,166 493,383 (b)... (4,090) (917) (825) (123)... 95,601 231,221 506,341 493,260... 76,814 2,082 5,434 10,169... 773 1,784 165 1,867 (c)... 14,175 44,737 41,833 33,541 (d)... 53,976 152,065 87,238 4,975 241,339 431,889 641,011 543,812

(a) 30 90 0 90... 56,802 108,170 231,260 247,620 91180... 137 46,007 77,968 22,315 180... 4 5,713 78,154 10,135 56,943 159,890 387,382 280,070... 70,596 206,670 468,398 450,791... 25,835 18,600 34,094 41,998... 3,260 6,868 4,674 594 99,691 232,138 507,166 493,383 (b) 6,886,000 83,198,000 235,907,000 128,009,000 0 90... 6,859 40,748 97,437 97,653 91180... 23 36,792 61,848 21,448 180... 4 5,658 76,622 8,908 6,886 83,198 235,907 128,009

5,620,000 26,961,000 41,365,000 1,227,000 4,090,000 917,000 825,000 123,000 0 90... 5,620 18,498 28,102 91180... 8,408 12,035 180... 55 1,228 1,227 5,620 26,961 41,365 1,227... 4,090 917 825 9... 4,005 (3,253) 602 (711)... (685)... 85 80 (9) 9... 4,090 917 825 123

(c) 1... 8,207 39,461 41,665 33,411 12... 5,968 5,276 168 130 14,175 44,737 41,833 33,541 (d) (e) 19... 19,817 31,655 53,937 40,809... 201 278 239 141 20,018 31,933 54,176 40,950 19,817,000 20,934,000 43,519,000 33,120,000 10,721,000 10,418,000 7,689,000

... 12,374 17,225 28,369 29,894... 7,644 12,662 15,785 10,250... 708 675 504... 1,338 8,331 78... 1,016 224 20,018 31,933 54,176 40,950... 99 59 58 20 0.1 (a)... 3,800,000 380 380 (c)... 79,996,200,000 7,999,620 7,999,620... 80,000,000,000 8,000,000 8,000,000 (a)... 100 10 10 (b)... 100 10 899,850,000 899,850,010... 200 20 899,850,000 899,850,020 (d)... 2,574,013,096 257,401,000 214,114,000 471,515,000... 2,574,013,296 257,401,020 1,113,964,000 1,371,365,020

(a) (b) (c) (d) 380,000 3,800,000 0.1Xinyi Automobile Glass (BVI) Company Limited 100 100 0.1 380,0008,000,000,000 80,000,000,000 0.1 2,574,013,096 0.1 471,515,000 21 (i) (a) (b) (c) (d) 341,255,000 421,826,000 514,423,000 26,744,000 (e) 10% 50% 25% 32,858,000 28,734,000 13,466,000

(f) (i) (ii) (iii) 1 10% 30%... 2.11 4,794 2.70 7,729 3.90 8,487 3.90 8,487 4.48 8,565... 3.55 3,227 6.44 2,478 4.34 2,707 4.34 2,707 4.80 2,982... 1.72 (979) 2.15 (1,670) 1.73 (517) 2.81 (2,117)... 3.31 (292) 2.77 (741) 2.95 (959) 2.80 (895) 5.25 (46)... 2.70 7,729 3.90 8,487 4.48 8,565 4.23 9,782 4.96 9,384 592,0001,744,0002,187,000 1.72 2.15 1.73 2.81979,0001,670,000 517,0002,117,000

... 1.72 1,716 515... 2.34 2,832 2,450 591... 3.55 3,181 3,146 3,019 2,187... 6.44 2,376 2,288 2,268... 4.34 2,667 2,641... 5.55 2,288 7,729 8,487 8,565 9,384 1.38 2.37 1.40 1.40 1.39... 3.55 6.44 4.34 4.34 5.28... 3.55 6.44 4.34 4.34 5.55 (%)... 63.19 60.40 56.89 56.89 47.72 (%)... 2.96 3.26 3.69 3.69 3.29... 3.5 3.58 3.36 3.83 3.5 (%)... 1.42 1.33 0.32 0.32 0.29 10

(ii) (g) i) 1,940,000 98,987,881ii) 233,000,000 5 112.38 1,782,000,000 89,000 15 14 22... (9,638) (9,638) (13,156)... (9,638) (3,518) (860) (1,317)... (9,638) (13,156) (10,498) (14,473) 23 (i)... 899,850 899,850 899,850 (ii)... 459,490 (i) (ii)

(BVI)... 200 100% 1... 100% 10,000 200 1 100%... 154,200,000 (BVI) 24 25 (a)... 34,853 68,734 36,119 49,834 (b)... 43,315... 34,853 112,049 36,119 49,834 (c)... 98,881 268,900 153,556 171,839 133,734 380,949 189,675 221,673

(a) 0 90... 34,853 67,173 31,503 46,952 91180... 936 1,399 1,495 180... 625 3,217 1,387 34,853 68,734 36,119 49,834 (b) (c)... 52,102 192,386 104,201 105,897... 14,886 25,492 24,516 28,057... 7,954 18,519 8,870 10,459... 2,114 20,134 6,951 10,814... 1,040 3,245 1,056 5,526... 16,610 5,451 2,605 3,297... 4,175 3,673 5,357 7,789 98,881 268,900 153,556 171,839 (d)

26 12... 608 928 1,115 12... (16,070) (4,122) (4,122) (4,122)... (16,070) (3,514) (3,194) (3,007)... 16,070 3,514 3,514 3,194 11... 16,070 14,188 (320) (153) (186) 21(d)... (26,744)... (1)... 16,070 3,514 3,194 3,361 3,007

... 608 608 928 11... 608 320 153 186... 1... 608 928 761 1,115... 16,070 4,122 4,122 4,122 11... 16,070 14,796 21(d)... (26,744)... 16,070 4,122 4,122 4,122 4,122 5% 862,000 6,168,000 10,624,000 17,245,000 123,370,000 212,477,000

27 28 (a)... 480,180 390,963 143,743 134,216 95,864 10... 1,284 2,550 3,632 2,151 3,506... (193) (349) (929) (556) (866) 9... 35,850 46,346 107,536 56,167 49,565 9... 4,285 2,219 2,349 1,177 1,196 8... 268 9 8... 2,168 9... 3,855 (1,652) 9... 4,005 (3,253) 602 (205) (711) 529,534 438,992 256,942 192,950 148,554... 5,330 (328,653) 189,653 101,841 103,569... (99,413) (187,297) (209,724) (102,107) 93,046... 38,250 105,188 (103,119) (51,025) 30,073... 10,639 5,911 13,572 11,012 (1,076)... 484,340 34,141 147,324 152,671 374,166

(b) (i) 211,630,000 370,379,000 248,665,000 179,357,000 136,081,000 (ii) 2,574,013,096 0.1 471,515,000 29 (i)... 11,091 8,576 7,039... 15,234 2,663 26,325 11,239 7,039... 329... 381... 66 776 2(g) (ii)

30 (i)... 381,044 40,058 53,542 47,174 (ii) 31 (i)... 235,294 493,827 46,576 78,000 253,165 (i)... 235,294 (ii)... 78,000 (i)... 352,941 (i) (ii)

(ii) 32 (a)......................................................... Xinyi Glass Deutschland GmbH... *......... *

(b) i... 3,825 4,727 1,125 451 i... 13,470 28,978 17,037 6,727 12,997 i... 69,650 43,860 ii... 286 2,034 2,883 1,445... 1,766 3,069 1,538 1,563... 3,955 5,366 2,689 2,734 286 7,755 11,318 5,672 4,297 (i) (ii) 21,000 30,000 195,400 2(g) 208,000 363,700

i... 29... 5 5... 4,260 8,018 2,013 4,260 8,018 2,018 5 29 i... 132 779 877 502 347... 1... 10,337 11,438 714 18 8,088... 9,571 2,038 1,949... 1 1,693 178 175... 36 30 1... 100 189 3,259 3,169 257... 219 665 424 408... 24,530 900 114 374... 58 306 5 10,825 48,954 8,697 6,340 9,066 i... 156 156... 1,564... 1,720 156

ii... 40 40... 2,091 560... 5 5... 271... 641... 28,958... 147,972 50,628... 1,328 1,065 40 40 181,266 52,258 ii... 42 12 7 3 161... 16 3... 29 11 1 1... 518 721 180 7 317... 1,326 7,439 234 118 349... 8,523 1,579 7,423 15,081... 4,270 2 131... 15... 5 115 110... 1,718 427 396... 8 42 2 1... 10 2... 6 10,446 15,812 8,417 639 16,047

iii... 2,214 253 Xinyi Glass Deutschland GmbH... 2,637 1,314... 1,507 919 3,721 1,172 2,637 1,314 iii... 400 586 293 248 iv... 2,553 v... 250,419... 90,836 341,255 vi... 424,012 248,665 179,357... 157,997 582,009 248,665 179,357 vii... 136,081 (i) (ii) (iii)

(iv) (v) (vi) 2,553,000 3 2(e) 2(f) 481,486,000 582,009,0002(g) 202,205,000 248,665,000 TCO 142,937,000 179,357,000 (vii) 108,634,000 136,081,000

(c)... 34 5... 550... 12... 1... 6 107... 1,559... 10 50 326... 95 594 ------------------ 1,621 ------------------ 540 ------------------ ------------------ i... 1 6,762... 876 66... 6... 34... 6,557... 1,929 5,325... 11... 5,744... 76 7,440 ------------------ 2,040 ------------------ 12,582 ------------------ 5,325 ------------------... 8,034 ------------------ 3,661 ------------------ 13,122 ------------------ 5,325 ------------------ i... ------------------ ------------------ 1,789 ------------------ ------------------ i... 39 ------------------ 385 ------------------ ------------------ ------------------ i... 1,905 i... 329... 8,402 4,046 16,816 5,325 39,000 385,000 1,905,000

... 1,197 96... 1 1 1,433... 5,125... 1,388... 389 129... 2,808 3,556... 6... 712 7,711 ------------------ 4,006 ------------------ 5,124 ------------------ ------------------... 472 1,892... 1,851 1,078 ------------------ 1,851 ------------------ 472 ------------------ 2,970 ------------------ i... 51 50 45 Xinyi Glass Deutschland GmbH... 265... 4,403 4,886... 31,264 34,994... 43,537 623,390 391 277,617... 8,830 14 5,431... 28,793... 74,449 10,592 15,961 4,960... 200,620 28,910 734,249 4,885... 80,901 274,081 2,482 1,769... 12,310... 233 86... 1... 203 194,687 437,181 ------------------ 973,140 ------------------ 993,478 ------------------ 301,541 ------------------ i... ------------------ ------------------ 597 ------------------ 2,195 ------------------ i... 23,584 521,225 511,300 134,506... 468,476 1,500,222 1,510,971 441,212

... 444,841 920,439 935,785 303,864... 4,403 4,886... 23,584 575,329 569,990 137,348... 51 51 310 468,476 1,500,222 1,510,971 441,212... 75,659 7,440 2,040 12,582... (3,955)... (90,836)... 5,325... 7,440 96,764 12,548... (75,659) (7,373) (2,006) (12,582)... 7,440 2,040 12,582 5,325... 1,789... 1,789... (1,789)... 1,789... 39 39 385 (597)... (614)... (2,553)... (67) (1,223) (2,195)... 2,553 486 834 1,211... (73) (593)... 39 385 (597) (2,195)... 1,905... 1,905 (1,905)... 1,905

... 329... (804)... 329 475... 329... (508,543) (437,181) (973,140) (993,478)... (286) (3,800) (11,318) (4,297)... (3,721) (1,172) (2,637)... (400) (586) (248)... (250,419)... (1,720)... (4,918)... 582,009 248,665 179,357... 136,081... 36,944... 208,805 287,306 905,358 791,839... (128,518) (1,149,483) (1,158,100) (447,739)... (437,181) (973,140) (993,478) (301,541)... (18,666) (23,584) (521,225) (511,300)... (3,972)... (514,423)... 614... (36,944)... 471,515... 20,754 9,925... (4,918) (58,391)... (23,584) (521,225) (511,300) (134,506) (i) (d) 31

(e)... 3,953 5,703 6,556 3,312 3,319... 35 94 98 50 35... 432 643 1,986 1,019 1,161 4,420 6,440 8,640 4,381 4,515 (i) 3 33 34 (a) 13,000,000 22(ii)(g) (b) 3,125,986,704 0.1 437,440,000

I-6

. 4.29 (1) (2) (3) (4) (5)(6) 5,700,000,000 1,638,807 21,204 13,000 437,440 2,042,043 0.36 (1) 1,638.8 (2) (3) 13,000,000 (4) 437.43,125,986,704 (5) 5,700,000,000 (6)

. II-1 II-1 4.29 7 7 4.29(7)

3420 4.29 7 (a) (b) (c) 4.29(1)

12 10.79

2 16 2 3 MRICS MHKIS MSc e-com MRICS MHKIS MSc e-com

1. 100% 348,500,000 348,500,000 441,140,000 441,140,000 2 2. 100% 2 3. 100% 2 348,500,000 348,500,000 441,140,000 441,140,000

1. 2 3 398,353.55 157,545.91 11,000 77,000 348,500,000 441,140,000 5 6 100% 348,500,000 441,140,000 5 6 1. 431,029.32 50 163,796,000 09001 217,253.31 82,560,000 2010037 19,961 7,586,000 2011010 193,815.01 73,650,000 431,029.32 163,796,000

2. 193,815.01161,139.24 3. 398,353.55 09001 217,253.31 (2010) 007 2010037 19,961 ( )(2011) 037 2011010 161,139.24 ( )(2011) 036 398,353.55 4. 4 157,545.91 26,094.25 1 2011043162 7,079.31 6 2011091877 108,507.04 2 2011091877 9,705.66 1 2011091875 2,993.3 1 2011091875 1,198.75 1 2011091875 774 1 2011091876 451.1 1 2011091876 742.5 1 2011091876 157,545.91 5. 56,800,00071,900,000 6. 13,320,00016,860,000 7.

8. (a) (b) (c) (d)

2. 2 28,680 286,800 100% 1. 122011307877 2. 3. (a) (b)

3. 11,000 77,000 100% 2 1. (2011) 135 2012074956 2. 3. (a) (b)

22 1. (a) (b) 27(2) 2. (a) (i)

(ii) (iii) (iv) (v)

(aa) (bb) (cc) (dd) (ee) (vi)

(vii) (aa) (bb) (cc) (6) (dd) (ee) (ff)

(viii) (ix) (x) (30) (b) (c) (i) (ii) (iii)

(iv) (v) (d) (e) (21) (10) (95%) (21)(10) (15)

(f) (g) (15) (18) (h)

(21) (i) (21)(20) (e) (21) (10) (14) (10) (i) (ii) (95%)

(aa) (bb) (cc) (dd) (ee) (ff) (20%) (gg) (j)

(30) (k) (l) (m) (i) (ii) (a) (b)

(n) (o) 20

(14) 20 (p) (2)2.50 1.00 (q) (r) 3(f)

(s) (i) (ii) (t) (i) (ii) (iii) (3) (u)

3. (a) (b) (a) (b) (c) 37(d) (e) (c)

(d) (e) 34 34

2(m) (f) (a) (b) (c) (a)(b) (c) (d) (g) (h) (i) (ii) (iii) (i)

(j) 6 (1) (2) (k) (l) (m) (n)

(28) (21) (o) (75%)

(p) (4) (90%) (4) (2) (1) (q) 4. Conyers Dill & Pearman (Cayman) Limited

A. 1. XI 216 2 3 29 2. (a) (b) (c) (d) (e) (f) 380,000 3,800,000 0.10 Codan Trust Company (Cayman) Limited (BVI)99 (BVI) (BVI) 10.0 100 100 79,996,200,000 7,999,620,000 2,574,013,096 3,125,986,704 8,000,000,000 80,000,000,000 5,700,000,00074,300,000,000 3.

(a) (BVI) (BVI) 50,000 1.00 (BVI)100 (b) 10,000 10,000 1.00(BVI) (BVI) 100 6,912,332 (BVI) 100 (c) 656,876,900.45 (BVI) 100 (d) (e) 4. 79,996,200,000380,000 3,800,0008,000,000,000 80,000,000,000 471.5 2,574,013,096 (a) (BVI) 3,125,986,704

(b) (c) (d) (e) (f) (BVI) 795,303,995 20% 10% (d) (e) 10% (d) (e) (f) (i) (ii) (iii) 5. (1) (i)

(ii) (iii) (2) (3) (4) 26

B. C. 1. (a) (b) (c) (d) (e) (f) (g) (h) 2. (a) 301882765 4, 7, 9, 11, 12, 19, 21 301882738 4, 7, 9, 11, 12, 19, 21 301882756 4, 7, 9, 11, 12, 19, 21 301882747 4, 7, 9, 11, 12, 19, 21 9065134 4 9065166 4

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