( 於開曼群島註冊成立之有限公司 ) (股份代號: 1717) 2015 AUSNUTRIA DAIRY CORPORATION LTD 澳 優 乳 業 股 份 有 限 公 司 AUSNUTRIA DAIRY CORPORATION LTD 澳優乳業股份有限公司 AUSNUTRIA DAIRY CORPORATION LTD 澳優乳業股份有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock code: 1717) 2015 Interim Report 中期報告 Interim Report 2015 中期報告

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Bartle van der Meer Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 168 A 8 168-200 36 16 Burgemeester Falkenaweg 58-1 (8442LE), Heerenveen, the Netherlands Codan Trust Company (Cayman) Limited Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 183 17M ABN AMRO Bank N.V. 1717 www.ausnutria.com.hk 2

197,368,600 20.0% 594.13.01 30% 26.1 122,677,075 12.4% 597,486,12560.5% 4123 15.0% 85.0% 4.1%12.5%68.4%30.8% 3

(i) (ii) (iii) Ausnutria Hyproca B.V.49.0% Dutch Dairy Investments B.V.DDIBartle van der Meer 30% Ausnutria Hyproca B.V. 49.0% 470.3 100,193,398147,459,300 13.0% 51.0% 19.7219.5 4

912.3 24.72.6% 531.6121.429.6% 97.7185.5 65.5%(i) (ii) 290.1270.3 19.87.3%31.8% 28.8%3.0 24.3%40.54.10 1.32 5

49.0% 440 Heerenveen140,000 83.0618.8 90,000 (i)(ii)(iii) 6

235.9 73.7% 10 (i) (ii)(iii) (iv) (v) IT IT(i) (ii)it(iii) IT IT 7

% * 531.6 410.2 29.6 140.2 72.5 93.4 97.7 283.2 65.5 10.1 13.3 24.1 55.0 72.4 24.0 77.7 85.4 9.0 912.3 937.0 2.6 (A) 291.5 264.8 10.1 (B) 638.3 704.9-9.4 929.8 969.7-4.1 (17.5) (32.7) -46.5 912.3 937.0-2.6 * 912.3937.0 24.72.6% 8

(A) % 143.9 136.3 5.6 68.4 55.2 23.9 1897 62.2 65.5-5.0 17.0 7.8 117.9 291.5 264.8 10.1 10.1%291.51897 18975.0% 9

(B) % (i) 240.1 145.4 65.1 (ii) 97.7 283.2-65.5 (iii) 17.5 32.7-46.5 (iv) 140.2 72.5 93.4 (v) 10.1 13.3-24.1 (vi) 55.0 72.4-24.0 560.6 619.5-9.5 (vii) 77.7 85.4-9.0 638.3 704.9-9.4 (i) (ii) (iii) (iv) (v) (vi) (vii) 1897 10

(i) (ii)(iii) (iv) 240.1 65.1% 9.4%638.3 % % 149.7 146.8 51.4 55.4 140.4 123.5 22.6 18.4 290.1 270.3 31.8 28.8 290.119.8 7.3%28.8%31.8% 11

14.5 10.8 2.50.5 88.9 70.0 114.1 75.0 203.0 145.0 22.3% 15.5% 30.5% 26.4% 17.9%10.6% 58.7% 56.4% 71.9% 12

24.6 23.3 27.2 30.4 51.8 53.7 7.35.9 Farmel Holding B.V.Farmel50%Farmel 2.0Farmel 13

25% 15%25% 200,00020%200,000 25% 22.9%4.8 25% 40.5 53.524.3% 750.6 683.0 562.0 483.251% 69.8 75.739.8 44.5Farmel 29.930.147.2 47.5 14

16.9116.35.647.0 2,037.9 1,750.2588.4 515.6 149.2 163.6 699.7216.9 100.0465.1376.6 278.3 (i) 186.0(ii)72.8 588.4515.6 162 108 (i) (ii) 15

15.4 24.6 92.8 99.6 108.2 124.2 41.0 39.4 149.2 163.6 13 1728 28 476.6 743.4 16

1,357.7 1,121.7202.8 184.2 472.3 373.5 650.5 517.2 31.7 46.4 10.3 10.6 192.5 173.6 202.8 184.2 13 1770 53 77.027.0 17

198.4 96.6156.6 51.914.5 15.727.3 29.1 DDI49% 49% 18

807.2 569.1 (669.7) (216.9) (100.0) (465.1) (376.6) (278.3) (339.1) (391.2) 2,788.5 2,433.3 1 1. 138.0947.9 98.8736.8669.7 216.9 19

2.5 4.45% 7.3 8.0 3.3 40.0 20

823.1 * 246,930 (246,930) 246,930 (246,930) 82,310 (64,215) 18,095 (18,095) 82,310 (64,856) 17,454 (3,550) 13,904 82,310 (82,310) 82,310 (82,310) 823,100 (787,551) 35,549 (21,645) 13,904 * 21

852 4 856 481 387 60 928 1,333 4 387 60 1,784 763 4 767 444 356 50 850 1,207 4 356 50 1,617 1,7841,617 145.6122.7 22

XV 352 1 86,805,450 8.80% 1. 352 23

336 5% 1 86,805,450 8.80% 2 123,355,375 12.50% 3 258,528,969 26.20% 138,943,064 14.08% 1 86,805,450 8.80% 2 123,355,375 12.50% 4 304,324,321 30.84% 144,193,643 14.61% Babyland Holdings Limited 50,859,045 5.16% 54,697,423 5.54% 1. 2. 3. 123,355,37515,587,969 4. 123,355,37520,838,268 336 24

0.1 10%100,000,000 10.1% 30% 3.21 3.23 25

Bartle van der Meer49% A 25.8276.1 30.6327.4 12.5 101.32.617.5 26

4 912,302 936,958 (622,212) (666,693) 290,090 270,265 4 19,654 12,087 (203,045) (144,988) (51,829) (53,670) (1,612) (6,843) 5 (7,255) (5,947) 1,971 6 47,974 70,904 7 (10,985) (12,849) 36,989 58,055 40,506 53,510 (3,517) 4,545 36,989 58,055 9 4.10 5.42 27

36,989 58,055 (22,586) 254 (22,586) 254 (22,586) 254 14,403 58,309 12,333 52,667 2,070 5,642 14,403 58,309 28

10 561,964 483,162 2,000 2,028 69,765 75,713 39,839 44,497 29,858 30,101 47,162 47,522 750,588 683,023 11 588,373 515,559 12 149,182 163,562 143,425 104,335 10,616 6,511 13 669,728 216,900 13 100,000 465,100 13 376,586 278,277 2,037,910 1,750,244 14 202,820 184,215 472,327 373,469 372 404 650,515 517,197 31,653 46,411 1,357,687 1,121,696 680,223 628,548 1,430,811 1,311,571 29

1,430,811 1,311,571 156,637 51,864 14,475 15,709 27,291 29,070 198,403 96,643 1,232,408 1,214,928 15 86,866 86,866 1,033,227 1,020,894 1,120,093 1,107,760 112,315 107,168 1,232,408 1,214,928 30

* * * * * 86,866 456,267 16,974 52,161 (27,093) 522,585 1,107,760 107,168 1,214,928 40,506 40,506 (3,517) 36,989 (28,173) (28,173) 5,587 (22,586) (28,173) 40,506 12,333 2,070 14,403 (2,864) (2,864) 5,941 5,941 1,492 (1,492) 86,866 456,267 16,974 53,653 (55,266) 561,599 1,120,093 112,315 1,232,408 86,866 456,267 14,310 48,136 (10,930) 437,572 77,589 1,109,810 84,656 1,194,466 53,510 53,510 4,545 58,055 (843) (843) 1,097 254 (843) 53,510 52,667 5,642 58,309 1,227 (1,227) 86,866 456,267 14,310 49,363 (11,773) 489,855 77,589 # 1,162,477 90,298 1,252,775 * 1,033,227,000 998,022,000 31

47,974 70,904 5 7,255 5,947 (1,971) 4 (14,531) (10,768) 6 22,948 21,987 6 227 61,902 88,070 (97,034) (174,229) 7,422 12,690 (44,653) (15,319) 31,962 102,139 106,353 54,516 65,952 67,867 16,201 23,510 (6,832) (5,978) (30,980) (20,550) (466) (120) 43,875 64,729 (135,682) (127,373) (1,694) (2,599) 13 365,100 246,295 13 (452,828) (3,900) (225,104) 112,423 361,692 109,251 (100,310) (5,817) 5,941 (2,863) (423) (47) 264,037 103,387 82,808 280,539 278,277 161,161 15,501 1,123 376,586 442,823 13 376,586 442,823 32

1. Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands(i) 168 A 8(ii) 168-200 36 16(iii)Burgemeester Falkenaweg 58-1 (8442LE), Heerenveen 2. 34 33

2. 19 3. (a) (b) 34

3. 291,523 620,779 912,302 17,530 17,530 291,523 638,309 929,832 (17,530) 912,302 41,822 4,825 46,647 14,531 (7,255) (5,949) 47,974 1,500 (1,273) 227 1,971 1,971 4,969 17,979 22,948 * 1,957 135,419 137,376 518,717 1,404,804 1,923,521 (307,798) 1,172,775 2,788,498 107,600 949,136 1,056,736 (307,798) 807,152 1,556,090 35

3. 264,786 672,172 936,958 32,748 32,748 264,786 704,920 969,706 (32,748) 936,958 52,694 14,604 67,298 10,768 (5,947) (14,064) 58,055 5,046 16,941 21,987 * 1,115 128,857 129,972 478,049 1,157,726 1,635,775 (189,827) 987,319 2,433,267 232,883 606,222 839,105 (189,827) 569,061 1,218,339 * 36

3. (a) 547,732 517,266 265,328 231,087 27,820 73,942 16,069 49,479 6,043 13,023 49,310 52,161 912,302 936,958 (b) 77,406 78,295 626,020 557,206 703,426 635,501 10% 37

4. 912,302 936,958 14,531 10,768 (i) 2,513 465 2,610 854 19,654 12,087 (i) 5. 9,263 7,227 423 47 9,686 7,274 (2,431) (1,327) 7,255 5,947 38

6. 621,985 666,693 227 622,212 666,693 19,488 18,904 28 28 3,432 3,055 1,659 1,416 2,000 1,500 134,634 112,098 * 10,938 10,592 145,572 122,690 * 39

7. 25%200,000 20%200,00025% 34%38% 15% (3,925) 1,288 16,024 15,491 (1,114) (3,930) 10,985 12,849 40

7. % % % % % % % (5,661) (20,932) 90,112 (2,599) (5,664) (7,282) 47,974 (934) 16.5 (5,164) 24.7 22,528 25.0 (988) 38.0 (1,926) 34.0 13,516 28.2 (5,740) (6.4) (5,740) (12.0) 4,362 (20.8) 22 0.1 4,384 9.1 10% 1,620 1.8 1,620 3.4 (493) 2.4 (493) (1.0) (2,592) 12.3 (241) (0.3) (2,833) (5.9) 934 (16.5) 934 1.9 (403) 1.9 (403) (0.8) (4,290) 20.5 18,189 20.2 (988) 38.0 (1,926) 34.0 10,985 22.9 % % % % % (1,112) 6,088 77,988 (12,060) 70,904 (184) 16.5 1,228 20.2 19,497 25.0 (1,977) 16.4 18,564 26.2 (6,340) (8.1) (6,340) (8.9) (913) (15.0) (1,273) (1.6) (2,186) (3.1) 448 7.4 969 1.2 1,417 2.0 10% 2,000 2.6 2,000 2.8 (419) (6.9) (371) (0.5) (790) (1.1) 184 (16.5) 184 0.2 344 5.7 14,482 18.6 (1,977) 16.4 12,849 18.1 8. 41

9. 986,843,000986,843,000 40,506 53,510 986,843,000 986,843,000 10. 135,682,000 127,373,000 116,309,00047,025,000 Heerenveen 15,013,000 103,138,000 14,766,000110,089,000 38,270,000262,911,000 28,391,000 211,672,000 42

11. 131,935 184,909 452,292 326,969 4,146 3,681 588,373 515,559 65,663,000 451,098,000 40,879,000304,777,000 12. 108,179 124,115 41,003 39,447 149,182 163,562 1,082,0007,433,000 602,0004,491,000 43

12. 102,555 106,602 3,071 11,396 2,240 3,146 313 2,971 108,179 124,115 19,033,000 130,755,000 14,786,000110,239,000 13. 286,586 278,277 859,728 682,000 1,146,314 960,277 (669,728) (216,900) (100,000) (465,100) 376,586 278,277 209,415,000 260,679,000 44

14. 202,664 184,107 156 108 202,820 184,215 3,178,00021,833,000 4,215,00031,425,00045 15. 1,500,000,0001,500,000,000 0.10 150,000 150,000 986,843,000 986,843,000 0.10 98,684 86,866 98,684 86,866 45

16. 17. 10 11 12 13 18. 3,064 3,377 4,200 4,487 118 7,264 7,982 19. 18 3,318 2,315 37,636 3,318 39,951 46

20. (a) (i) 95,384 (i) 5,294 (ii) 110 DDI (b)(i) 486 (i) (ii) (b) (i) DDI49% 8,820,00060,593,000 7,350,000 54,799,000 2%21 (ii) 12 14 47

20. (c) 6,972 7,561 426 678 7,398 8,239 21. DDIDDI DDI49%470.3 (i)147,459,300 13.0%(ii)100,193,398 22. 48