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Stock Code: 2868 2011

目錄 2 3 4 5 12 14 16 22 51 56 65 77 78 79 81 82 83 84 86 1

2 公司資料 * * * * 1 501 217 85806-08 http://www.bjcapitalland.com

上市資料 H 2868 2868.HK 2868HK H 2,000 H 183 17 1712-1716 (852) 2862 8628 (852) 2529 6087 kittycheung@bjcapitalland.com.hk H 2.92 2.21 99,933,024 3.64 2.62 284,639,237 3.15 2.06 146,378,676 3.15 1.95 332,494,246 2.70 1.35 87,559,488 2.92 2.04 249,844,352 2.02 1.26 122,431,211 3.24 2.48 156,051,689 4.74 1.24 3.50 2.60 1.53 3

財務資料摘要 1 2 2 3 3 3 7,523,321 6,493,795 5,393,150 5,167,098 4,870,929 1,635,891 1,463,156 1,510,295 1,266,520 1,319,768 (455,852) (375,231) (622,005) (504,258) (592,901) 1,180,039 1,060,925 888,290 762,262 726,867 955,062 918,155 538,435 382,890 526,009 224,977 142,770 349,855 379,372 200,858 1,180,039 1,060,925 888,290 762,262 726,867 37,711,118 30,513,787 22,421,735 19,067,502 19,803,326 29,482,884 22,883,841 15,744,990 12,908,182 14,045,002 8,228,234 7,629,946 6,676,745 6,159,320 5,758,324 1 2 3 4 2010 12 3147 4

2.4% 24.4% 3.6% 13.2% 4.4% 3.3% 5.3% 7.6% 18% 9.7% 8.1% 5 物業組合一覽

物業組合一覽 6

物業組合一覽 7

物業組合一覽 1 100% 20,100 50,700 2 34% 12,900 42,900 3 35% 9,400 51,700 4 55% 17,900 4,467 4,135 2009 5 100% 86,300 105,314 75,670 5.1 37,800 37,800 2007 5.2 15,214 3,270 2011 5.3 52,300 34,600 6 50% 116,000 34,900 28,800 2011 7 A-Z Town 100% 122,500 13,428 7,920 2009 8 95% 175,489 264,189 255,708 8.1 109,737 105,672 2013 8.2 154,452 150,036 2014 9 100% 175,489 255,149 239,849 9.1 53,436 53,436 2012 9.2 85,816 85,816 2013 9.3 115,897 100,597 2014 8

物業組合一覽 10 99% 233,336 262,996 246,977 10.1 18,563 10,170 2011 10.2 108,723 108,723 2012 10.3 73,095 65,469 2013 10.4 62,615 62,615 2014 11 55% 233,336 98,844 76,210 11.1 9,122 4,498 2011 11.2 89,722 71,712 2012 12 40% 271,800 180,239 180,239 12.1 9,489 9,489 2011 12.2 28,649 28,649 2012 12.3 99,601 99,601 2013 12.4 42,500 42,500 2014 13 40% 151,600 107,510 107,510 13.1 90,410 90,410 2012 13.2 17,100 17,100 2013 14 121 55% 255,000 81,343 81,343 14.1 5,203 5,203 2011 14.2 76,140 76140 2013 15 122 A-Z Town 55% 183,500 228,430 207,830 16 100% 217,826 714,213 623,279 16.1 42,498 42,498 2012 16.2 113,166 108,053 2013 16.3 250,751 195,887 2014 16.4 307,798 276,841 2015 17 30% 145,800 331,864 286,015 17.1 12,190 7,317 2010 17.2 32,659 32,659 2012 17.3 93,300 93,300 2013 17.4 193,715 152,739 2014 18 1 50% 471,400 469,268 425,547 18.1 13,114 13,114 2011 18.2 77,374 77,374 2013 18.3 113,137 97,137 2014 18.4 265,643 237,922 19 100% 78,200 90,480 71,385 19.1 9,699 4,263 2011 19.2 80,781 67,122 2012 9

物業組合一覽 20 55% 75,000 213,850 143,157 20.1 52,797 22,971 2012 20.2 161,053 120,186 2013 21 55% 106,800 463,750 353,889 21.1 145,709 113,359 2013 21.2 217,465 143,664 2014 21.3 100,576 96,866 2015 22 40% 355,400 1,080,630 847,795 22.1 16,845 12,116 2011 22.2 61,826 28,471 2012 22.3 429,198 333,604 2013 22.4 314,211 247,470 2014 22.5 258,550 226,134 2015 23 50% 229,300 736,359 583,692 23.1 43,402 12,388 2011 23.2 241,100 196,294 2012 23.3 317,870 265,823 2013 23.4 133,987 109,187 2014 24 100% 163,000 31,767 18,817 25 100% 96,600 149,571 129,363 25.1 16,066 6,306 2012 25.2 133,505 123,057 2013 26 531,100 817,928 661,993 26.1 20% 97,542 97,542 2012 26.2 68% 76,312 53,143 2013 26.3 68% 397,274 308,255 2014 26.4 68% 246,800 203,053 27 100% 114,493 232,287 212,121 28 100% 78,258 176,171 169,181 28.1 55,942 51,922 2013 28.2 120,229 117,259 2014 10

物業組合一覽 29 1,631,200 1,675,399 1,569,999 29.1 55% 95,259 95,259 2012 29.2 55% 119,774 102,832 2013 29.3 68% 495,167 495,167 2014 29.4 68% 138,624 138,624 2015 29.5 68% 344,491 344,491 2016 29.6 68% 482,084 393,626 30 55% 451,333 298,690 284,987 30.1 103,180 100,879 2012 30.2 195,510 184,108 2013 31 1 1 100% 81,016 103,049 94,744 31.1 50,690 43,006 2011 31.2 33,137 32,516 2012 31.3 19,222 19,222 2013 32 100% 41,450 67,734 58,208 32.1 67,734 58,208 2013 33 100% 96,695 140,381 121,348 33.1 50,599 45,525 2012 33.2 89,782 75,823 2013 34 100% 195,609 420,520 388,727 34.1 40,927 30,976 2012 34.2 204,989 192,093 2013 34.3 174,604 165,658 2014 35 100% 92,455 235,010 184,910 35.1 103,446 81,277 2013 35.2 131,564 103,633 2014 10,085,731 8,741,348 1. 2. 3. 4. 5. 11

年度大事紀要 2011 2 11.534.75% 2011 3 2011 4 2011 5 30 2011 6 200 12

年度大事紀要 2011 7 A-Z Town 72490% A-Z Town 2011 9 2011 2011 11 + ++++ 27 2011 12 1 75 13

年度主要獎項一覽 2011 2011 4 2011 5 2011 9 2011TOP10 43.36 2011 10 2011 10 2011 11 2011 11 2011 14

年度主要獎項一覽 2011 2011 12 2011 2011 12 2011 2011 12 2011 2011 12 2011 12 CIHAF 2011 12 201130 20 CIHAFCIHAF 15

董事長報告 16

董事長報告 18

董事長報告 11 28 118 110 7,523,321,000 955,062,00016% 4% 0.19 19

董事長報告 A-Z Town 246 11.53 4.75% 20

董事長報告 21

管理層討論和分析 22

管理層討論和分析 471,564 9.2% 301,93323.8% 23,97914.1%8.4% 21,810 14.1%8.4% 61,74027.9%30.2% 71.8%109,9464.9% 5.7 3.9%6.2% 12.6% 24

管理層討論和分析 59,11912.1% 6.8 10.2% 16.1%23.7% 83,246 14.1% 12.1 5.110.1%34,6283.8%2.93 11.3%11,89529.4%2.96 8.0%12,59623.9% 25

管理層討論和分析 11.89 25.2% 5 26

管理層討論和分析 21.07 9.98 21.2% 82,000 48% 67%110,000 53% 72% 27

管理層討論和分析 4,230 41,698 5.27 11.2%4,10431.6%6.6% 2 5 1,350 85%-90% 28

管理層討論和分析 - 20111,595.6424.8% 2,015.0924.4%1,002.67 19.0% 680 29

管理層討論和分析 - 160 272 35,35460.2% 877.382,515.29 12.0% 663.05 41.7%3,659.88 35.6%888.193.9% 30

管理層討論和分析 3 6 120 5010 7,523,321,00016% 1,180,039,000 11%955,062,0004%0.47 0.45 0.19 0.18 2012 2012 1,249 1,08171 3 1.7 31

管理層討論和分析 IRR A-Z Town CRM 400 CRM 400 32

管理層討論和分析 20 33

管理層討論和分析 11.534.75% +++ 1,336,347 55,018 100% 72,617 99% 131,216 55% 24,447 40% 193,696 55% 178,051 100% 161,085 30% 1 64,183 50% 273,092 40% 99,926 100% 1 73,687 100% 6,628 100% 2,701 55% 1,336,347 34

管理層討論和分析 354,926 14,066 4,992,294 11,541 43,138 497,850 6,323 61,969 391,830 10,923 37,976 414,810 60,080 16,671 1,001,583 13,999 14,034 196,460 93,187 9,125 850,375 34,090 11,044 376,507 37,343 12,943 483,339 41,705 9,802 408,776 15,635 8,092 126,520 A-Z Town 30,100 8,114 244,244 694,468 6,650 4,617,895 A-Z TOWN 534 10,204 5,449 55,232 6,784 374,676 103,899 5,328 553,560 83,068 5,223 433,875 79,484 6,736 535,407 1 12,057 13,418 161,783 21,087 8,082 170,420 28,850 8,401 242,379 2,052 5,210 10,690 148,420 6,539 970,450 118,943 6,825 811,804 305 8,990 2,742 1 26,564 8,186 217,450 13,973 9,104 127,210 73,977 16,463 1,217,882 153 53,856 8,240 10,714 28,001 300,000 42,614 8,510 362,652 10,294 14,163 145,790 10,202 39,326 401,200 57,756 3,639 210,202 1,181,127 11,038,273 35

管理層討論和分析 7% 2% 1% 7% 7% 5% 10% 31% 7% 6% 11% 42% 4% 21% 13% 26% 100 118 105110 11.5% 96 32 14 CRM 36

管理層討論和分析 CCTV50 CBD 4.5 270 60 75 5.1 A-Z Town A-Z Town 13 10 53 5 4.2 CBD45 2.8 6030% 1030 37

管理層討論和分析 A-Z Town A-Z Town A-Z Town 2.4 A-Z Town A-Z Town Smart 40 210 4A 5.6 2 4.3 38

管理層討論和分析 8.5 ART DECO 2 4.1 CBD GENSLER 5.5 10800 11.5 39

管理層討論和分析 CBD, 5.9 13 3.8 1 6 8.5 4.1 40

管理層討論和分析 Art Deco CSD 2.4 30 10 41

管理層討論和分析 35180 230 298300 1.3 1 3.3 2.2 42

管理層討論和分析 1.3 M1M3 2 102,541,00016%68% 4 43

管理層討論和分析 246 133 28 30 175 113 24SOHO 08-02 08-07 25 01-05 03-02 46 4,500 220 18 1,009874 60024.4% 13.2% 3.6%9.7%8.1%18%7.6%3.3%5.3%4.4% 2.4%77% 21% 2% 44

管理層討論和分析 7,000330 3 1.7 4 20 15 35 29 1,06832 11.8%67.5% 26.2% 3.9% 22,37321 100 45

管理層討論和分析 46

管理層討論和分析 1. 7,669,514,000 7,629,946,00039,568,000 2. 7,523,321,0006,493,795,000 16% 33% 35% 1,626,434,0001,410,851,000 15% 3. 37,711,118,000 30,513,787,000 4,766,943,0003,591,357,000 29,482,884,00022,883,841,00021,205,573,000 15,270,411,0008,277,311,000 7,613,430,0008,228,234,0007,629,946,000 1.55 1.76 8,352,243,000 8,460,068,000 47

管理層討論和分析 12,975,783,000 9,771,502,0008,134,261,000 7,468,391,000 46,600,000 293,427,000 82%26% 4. 100% 40% 100% 100% 50% 100% 100% 100% 48

管理層討論和分析 100% 38% 5. 6. 2,550,000,0003,550,000,000 4,188,880,0002,211,560,000 393,234,000240,000,000 100,000,000 100,000,000 360,193,000 155,000,000 30,000,000 500,000,000700,000,000 825,000,000 825,000,000 800,000,000750,000,000 400,000,000 282,620,000282,620,000 50,000,000 49

管理層討論和分析 7. 2,134,974,000 1,150,000,000 4.75% 8. 3,028,311,0002,973,167,000 (i) (ii)(iii) 910,193,000 700,000,000 1,150,000,000 50

董事監事及高級管理人員簡介 57 13 1062 6000083989 52 000608 57 University of Northern Virginia MBA 51

董事監事及高級管理人員簡介 59 600008 59 600008 48 52

董事監事及高級管理人員簡介 56 47 438 1886 1733881 6311011 47 000038 53

董事監事及高級管理人員簡介 43 42 600008 41 47 54

董事監事及高級管理人員簡介 43 20 41 MBA 50 000608 39 38 55

董事會報告 7885 2,027,960,0000.19 385,312,000 (27)(28)(16) 4 11.73 6.425.31 56

董事會報告 (10) 811 11,100,000 HH1.09% 0.55% 57

董事會報告 5155 7(5)j 58

董事會報告 XV352 18 13.51B(1) 2011 103833 2,027,960,000 649,205,700 32.01% H 357,998,300 17.65% H 1,020,756,000 50.34% 59

董事會報告 XV2 3 10% (%) (%) 924,441,900 (1) 30.88 60.90 91.78 15.34 30.25 45.58 32,436,000 (1) H 3.22 3.22 1.60 1.60 322,654,800 (2) 4.71 27.33 32.04 2.34 13.57 15.91 32,436,000 (2) H 3.22 275,236,200 (3) 27.33 32,436,000 (3) H 3.22 3.22 1.60 27.33 13.57 3.22 1.60 1.60 13.57 1.60 172,006,700 17.08 118,747,600 11.79 275,236,200 27.33 32,436,000 H 3.22 82,762,100 8.22 17.08 8.48 11.79 5.86 27.33 13.57 3.22 1.60 8.22 4.08 8.48 5.86 13.57 1.60 4.08 Fexi Holdings Limited 82,762,100 (4) 8.22 82,762,100 (5) 8.22 8.22 4.08 8.22 4.08 4.08 4.08 60

董事會報告 (%) (%) Reco Pearl Private Limited 165,070,000 H 16.17 16.17 8.14 8.14 Recosia China Pte Ltd 165,070,000 (6) H 16.17 Recosia Pte Ltd. 165,070,000 (7) H 16.17 16.17 8.14 16.17 8.14 8.14 8.14 Government of Singapore Investment Corporation (Realty) Pte Ltd. 165,070,000 (8) H 16.17 16.17 8.14 8.14 Templeton Asset Management Limited 92,176,000 H 9.03 9.03 4.55 4.55 The Hamon Investment Group Pte Limited 81,199,000 (9) H 7.95 7.95 4.00 4.00 The Deryfus Corporation 59,892,000 H 5.87 5.87 2.95 2.95 1. 924,441,900 311,032,800613,409,100 32,436,000 H 2. 322,654,800 47,418,600275,236,200 32,436,000 H 3. 275,236,20032,436,000 H 4. 82,762,100 5. 82,762,100Fexi Holdings Limited 61

6. 165,070,000Reco Pearl Private Limited 7. 165,070,000Reco Pearl Private Limited Recosia China Pte Ltd 8. 165,070,000Reco Pearl Private Limited Recosia China Pte Ltd Recosia Pte Ltd. 9. 81,199,000Hamon Asset Management Limited Hamon Asians Advisors Limited Hamon Investment Management Limited XV2 3 10% 1,068 62

董事會報告 7(4) (23) (1) 25% 63

董事會報告 25% < > 2007 2010 12 312011 3 28 20112011 5 9 64

企業管治報告 65

企業管治報告 5155 4/4 4/4 4/4 4/4 4/4 1/1 3/3 4/4 4/4 1/1 3/3 66

企業管治報告 1. (1) 1. 2. 3. 4. 5. 6. 7. 8. (2) 1. 2. 3. 4. 5. 6. 67

企業管治報告 2. (1) 1. 2. 3. (2) 1. 2. 3. 4. 5. 6. 3. (1) (2) (3) 68

企業管治報告 (4) (5) (6) (7) (8) 3.08 3.09 69

企業管治報告 60 61 3.13 C.3.3(a) (n) 70

企業管治報告 2/2 2/2 2/2 71

企業管治報告 3/3 3/3 1/1 2/2 2/2 2/2 1/1 1/1 72

企業管治報告 1. 2. 31 3. (a) 70% 73

企業管治報告 (b) 30% 74

企業管治報告 4 26 7,000,000 5,200,000 1,550,000 http://www.bjcapitalland.com 75

企業管治報告 283 13 3 76

監事會報告 77

獨立核數師報告 (1) (2) 78

合併及公司資產負債表 (1)(1) 8,352,243 8,460,068 1,366,081 2,795,108 (2)(a)(2)(a) 139,987 385,364 160 160 (3) 231,596 989,824 11,100 554 (4)(4) 71,032 283,606 12,400 207,202 (2)(b)(2)(b) 769,031 782,026 13,827,716 5,793,910 (5)(3) 22,568,908 15,378,261 44,076 46,137 (6) 811,378 643,281 32,944,175 26,922,430 15,261,533 8,843,071 (7)(5) 112,480 140,615 73,961 140,610 (12)(6) 824,167 395,453 404,597 148,914 (8)(7) 1,627,197 1,419,389 2,811,874 6,241,069 (9)(8) 1,296,468 893,890 1,958 (10)(9) 500,916 529,355 71,295 74,080 (11) 42,697 43,743 1,335 (25)(c)(14)(c) 188,913 168,912 40,986 12,757 (13) 172,770 4,766,943 3,591,357 3,404,671 6,617,430 37,711,118 30,513,787 18,666,204 15,460,501 (15)(11) 1,260,000 750,000 750,000 (16)(10) 2,813,588 2,014,310 10,783 10,783 (17) 7,768,754 7,336,834 1,625 807 (18) 121,355 104,739 89,344 82,389 (19)(15) 1,740,933 1,406,485 40,914 12,643 132,724 104,182 24,144 24,938 (20) 884,747 947,049 64,521 (21)(12) 2,901,950 1,053,701 8,642,050 5,146,210 (22) 3,581,522 1,553,111 1,502,000 1,200,000 21,205,573 15,270,411 10,375,381 7,227,770 79

合併及公司資產負債表 (23)(13) 5,999,287 6,479,180 1,678,000 3,050,000 (24) 2,134,974 989,211 991,872 989,211 (25)(c)(14)(c) 143,050 145,039 8,277,311 7,613,430 2,669,872 4,039,211 29,482,884 22,883,841 13,045,253 11,266,981 (26) 2,027,960 2,027,960 2,027,960 2,027,960 (27)(16) 1,081,696 1,233,985 1,303,865 1,353,372 (28) 330,231 146,034 330,231 146,034 (29) 2,224,879 1,819,047 1,958,895 666,154 2,638 (661) 5,667,404 5,226,365 5,620,951 4,193,520 (30) 2,560,830 2,403,581 8,228,234 7,629,946 5,620,591 4,193,520 37,711,118 30,513,787 18,666,204 15,460,501 80

合併及公司利潤表 (31)(17) 7,523,321 6,493,795 130,047 220,300 (31)(17) (4,614,417) (3,897,360) (103) (6,018) (32) (816,782) (832,907) (25,454) (21,518) (244,366) (183,198) (140) (292,295) (175,280) (198,074) (127,555) (33)(18) (18,214) (36,650) 63,688 (103,342) (34) (9,104) (1,203) (35)(19) 98,291 43,654 1,868,864 430,250 96,973 (4,551) 12,769 5,137 1,626,434 1,410,851 1,838,968 391,977 13,681 28,838 10,000 (4,224) (3,533) (200) (1,045) (54) (991) 1,635,891 1,436,156 1,848,768 390,932 (37)(20) (455,852) (375,231) (6,797) 9,634 1,180,039 1,060,925 1,841,971 400,566 955,062 918,155 224,977 142,770 (38) 0.47 0.45 0.47 0.45 (39) (46,041) (70,214) (49,507) (39,665) 1,133,998 990,711 1,792,464 360,901 909,021 862,885 224,977 127,826 81

合併股東權益變動表 2,027,960 1,287,782 105,978 1,164,024 2,051,433 6,637,177 (53,797) 40,056 655,023 (661) 352,148 992,769 918,155 142,770 1,060,925 (39) (54,609) (661) (14,944) (70,214) 115,670 115,670 (27) 812 527,002 527,814 (29) (223,076) (418,350) (641,426) (28) 40,056 (40,056) 2,027,960 1,233,985 146,034 1,819,047 (661) 2,403,581 7,629,946 2,027,960 1,233,985 146,034 1,819,047 (661) 2,403,581 7,629,946 (152,289) 184,197 405,832 3,299 157,249 598,288 955,062 224,977 1,180,039 (39) (49,340) 3,299 (46,041) 42,226 42,226 (27) (102,949) (109,954) (212,903) (29) (365,033) (365,033) (28) 184,197 (184,197) 2,027,960 1,081,696 330,231 2,224,879 2,638 2,560,830 8,228,234 82

公司股東權益變動表 2,027,960 1,393,037 105,978 528,720 4,055,695 (39,665) 40,056 137,434 137,825 400,566 400,566 (39,665) (39,665) (29) (223,076) (223,076) (28) 40,056 (40,056) 2,027,960 1,353,372 146,034 666,154 4,193,520 2,027,960 1,353,372 146,034 666,154 4,193,520 (49,507) 184,197 1,292,741 1,427,431 1,841,971 1,841,971 (49,507) (49,507) (29) (365,033) (365,033) (28) 184,197 (184,197) 2,027,960 1,303,865 330,231 1,958,895 5,620,951 83

合併及公司現金流量表 8,025,451 8,775,797 130,865 206,277 548,146 477,421 4,276,848 2,398,448 8,573,597 9,253,218 4,407,713 2,604,725 (6,691,037) (4,472,805) (864) (8,360) (18) (317,014) (197,901) (162,850) (92,137) (1,150,566) (1,078,931) (29,554) (13,735) (845,220) (1,938,083) (2,930,103) (1,438,821) (9,003,837) (7,687,720) (3,123,371) (1,553,053) (40)(a)(21)(a) (430,240) 1,565,498 1,284,342 1,051,672 640 13,591 640 13,591 215,852 35,814 198,080 35,814 149 807 24,556 43,125 ( ) 44,509 28,549 3,634 364 264,784 103,317 199,084 92,530 (416,323) (645,683) (3,437) (7,082) (38,291) (188,019) (25,010) (83,297) (192,116) (491,902) (44,424) (262,290) (43,991) (1,138,632) (878,126) (290,737) (134,370) (873,848) (774,809) (91,653) (41,840) 84

合併及公司現金流量表 2,000 135,670 2,000 127,000 4,036,427 4,816,415 130,000 1,450,000 (24) 1,140,078 29,301 29,301 5,207,806 4,952,085 159,301 1,450,000 (2,530,680) (1,572,640) (1,950,000) (309,000) (1,302,053) (619,467) (562,960) (511,511) (520,545) (369,500) (4,353,278) (2,192,107) (2,882,460) (820,511) 854,528 2,759,978 (2,723,159) 629,489 (4,984) (595) 1,443 179 (40)(b)(21)(b) (454,544) 3,550,072 (1,529,027) 1,639,500 (40)(b)(21)(b) 8,429,444 4,879,372 2,795,108 1,155,608 (40)(b)(21)(b) 7,974,900 8,429,444 1,266,081 2,795,108 85

. 1,100,000,000 1H H513,300,000 51,330,000H H 112,926,000 1 H 102,660,00010,266,000 343,200,000 1 H 312,000,00031,200,000 14.11% 15.34% 86

. (1). 38 (2). (3). (4). (5). (a) 87

. (5). (b) (6). 88

. (6). (7). (8). (a) (b) 89

. (9). (a) (i) 金融資產分類應收款項可供出售金融資產 12 (ii) 確認和計量 90

. (9). (a) (iii) 金融資產減值 (iv) 金融資產的終止確認 (1) (2) (3) 91

. (9). (b) (c) 92

. (10). (11). (a) (b) 93

. (11). (c) (d) (e) (12). (a) 94

. (12). (b) 95

. (12). (c) (d) (19) (13). (14). 96

. (14). 10-40 0% 10% 2.3% 10.0% 40 2.5% (19) 97

. (15). (a) (b) 10-40 0% 10% 2.3% 10.0% 5 0% 10% 18.0% 20.0% 3-10 0% 10% 9.0% 33.3% (c) (19) 98

. (15). (d) (16). 3 99

. (17). (a) 50 (b) (c) (19) (18). 100

. (19). (20). (20%) 5%1,000 101

. (21). (22). (a) (b) 102

. (22). (c) (23). 103

. (24). (25). 104

. (26). (27). (28). 105

. (29). (30). (a) (i) 房地產開發成本 106

. (30). (a) (ii) 稅項 (iii) 資產減值 (19) (iv) 應收款項壞賬準備 (10) (v) 遞延所得稅資產 107

. (30). (b) (22). 25% 5% 30%-60% 5%-7% 3% 1.2% 108

. 1. % % % % % % % % (1) 11,258,000 11,258,000 75 25 75 25 75 25 75 25 (2) 6,360,000 6,360,000 10 49.5 10 49.5 10 49.5 10 49.5 (3) 370,000,000 370,000,000 100 100 100 100 (4) Central Plaza ) 1 1 100 100 100 100 (5) IFC 1 1 100 100 100 100 2. % % % % % % % % (1) 640,000,000 640,000,000 100 100 100 100 (2) (iii) 10,000,000 10,000,000 100 85 15 100 85 15 (3) 30,000,000 30,000,000 55 55 60 60 109

. 2. % % % % % % % % (4) (iii) (v) 89,000,000 60,000,000 55 55 60 60 (5) (i) 20,000,000 20,000,000 50 50 60 60 (6) (i)(iii) 95,000,000 95,000,000 50 50 66.7 66.7 (7) 40,000,000 40,000,000 55 55 55 55 (8) (ii) 89,000,000 89,000,000 100 100 (9) (ii) 50,000,000 50,000,000 100 100 (10) (ii) 20,000,000 20,000,000 100 100 (11) (ii) 50,000,000 50,000,000 100 100 (12) (ii) 75,000,000 75,000,000 100 100 (13) (ii) 75,000,000 75,000,000 100 100 110

. 3. % % % % % % % % (1) 496,590,000 496,590,000 100 100 100 100 (2) 30,000,000 30,000,000 100 100 100 100 (3) (iv) 30,000,000 30,000,000 51 100 51 100 (4) 25,000,000 25,000,000 55 55 60 60 (5) (iii) 30,000,000 30,000,000 55 55 60 60 (6) (iv) 12,500,000 12,500,000 60 40 60 60 40 60 (7) 10,000,000 10,000,000 100 100 100 100 (8) 150,000,000 150,000,000 100 100 100 100 (9) (iii) 100,000,000 100,000,000 55 55 60 60 (10) (iii) 95,000,000 95,000,000 55 55 60 60 (11) (iii) 95,000,000 95,000,000 55 55 60 60 (12) 100,000,000 100,000,000 100 100 100 100 (13) 6,062,000 6,062,000 75 25 75 25 75 25 75 25 (14) 50,000,000 50,000,000 100 100 100 100 (15) (i) 250,000,000 250,000,000 50 50 51 51 (16) 127,000,000 127,000,000 99 99 99 99 111

. 3. % % % % % % % % (17) 100,000,000 100,000,000 100 100 100 100 (18) 40,000,000 40,000,000 68 68 68 68 (19) 30,000,000 30,000,000 68 68 68 68 (20) 10,000,000 10,000,000 68 68 68 68 (21) 1,150,000,000 9,900,000 9,900,000 100 100 100 100 (22) (iv) 10,310,000 10,310,000 100 69 100 69 (23) 50,000,000 50,000,000 95 95 95 95 (24) 30,000,000 N/A 100 100 (25) 24,500,000 24,500,000 68 68 68 68 (26) 67,000,000 67,000,000 68 68 68 68 (27) 10,000,000 10,000,000 100 100 100 100 (28) 100,000,000 N/A 100 100 (29) 100,000,000 N/A 100 100 (30) (31) 14,000,000 49,000,000 N/A 100 100 N/A 100 100 (32) 100,000,000 N/A 100 100 (33) 30,000,000 N/A 100 100 112

. (i) 50% (ii) (iii) (19) (iv) (27) (v) 60,000,000 89,000,000 (1) 92% 8% 89,000 89,000 113

. (1) 684 684 684 7,490 7,490 7,490 1,110,374 1,074,241 1,074,241 622,921 622,921 622,921 302,579 302,579 302,579 15 15 15 95,000 95,000 95,000 9,033 89,000 61,900 61,900 89,000 89,000 (684) 88,316 114

. (1) 13,840 175,188 298,946 (2) 100% 50,000 (21) 185,770 235,770 237,965 (2,195) 115

. (2) 94,509 94,509 35,510 87,805 87,805 104,866 225,570 225,570 14,563 2,138,078 2,114,756 1,435,784 1,214 1,214 1,347 277 277 499 203,074 203,074 11,726 198,296 198,296 54,864 1,424,472 1,424,472 1,254,880 814 814 4,076 917 917 708 1,085 1,085 180 475,000 475,000 218,000 5,830 237,965 220,473 48,135 237,965 50,000 (94,509) (44,509) 116

. (2). (1). 1,604 1,517 8,350,639 8,458,551 8,352,243 8,460,068 117

. (1). 377,343,000 30,624,00055,315,000 30,624,000100,000,000 23(c) 222,028,000 (2). (a) 143,831 389,208 (3,844) (3,844) 139,987 385,364 60,000,000 135,000,000 (5)(a) 118

. (2). (a) 64,457 381,535 71,701 7,673 7,673 143,831 389,208 % % % % 128,062 89 374,140 96 15,769 11 (3,844) 24 15,068 4 (3,844) 26 143,831 100 (3,844) 3 389,208 100 (3,844) 1 160,000 160,000 7,513,0007,513,000 3,844,000 3,844,000 119

. (2). (b) 164,500 34,089 105,554 417,194 19,700 13,873 18,892 494,820 178,801 173,382 808,457 812,348 (39,426) (30,322) 769,031 782,026 % % % % 573,836 71 663,245 82 183,524 23 107,738 13 11,469 1 1,109 39,628 5 (39,426) 99 40,256 5 (30,322) 75 808,457 100 (39,426) 5 812,348 100 (30,322) 4 120

. (2). (b) % % % % 613,996 80 742,891 95 194,461 20 (39,426) 25 69,457 5 (30,322) 44 808,457 100 (39,426) 5 812,348 100 (30,322) 4 (3). 64,722 63,418 25,000 169,680 141,874 756,726 231,596 989,824 121

. (3). % % 176,916 76 989,824 100 54,680 24 231,596 100 989,824 100 (4). (i) 162,565 (162,565) (i) 32,237 (32,237) 12,400 12,400 76,404 (17,772) 58,632 283,606 (212,574) 71,032 (i) 122

. (5). 19,575,113 19,575,113 12,818,683 12,818,683 2,884,226 2,884,226 2,284,708 2,284,708 102,718 102,718 266,956 266,956 4,172 4,172 4,172 4,172 2,679 2,679 3,742 3,742 22,568,908 22,568,908 15,378,261 15,378,261 4,513,231,000 3,800,681,000 (31)(a) 1,044,132,000 681,063,0006.94% 5.92% 1,012,690,000 1,010,835,000 800,000,000750,000,000 (15) 1,415,695,000 212,823,000 999,200,00020,000,000 (23)(c) 6,907,326,000 4,132,315,000 3,189,680,000 2,191,560,000 (23)(c) 123

. (5). 2,550,000,000 3,550,000,000 (23)(d) 155,000,000 (23)(f) 10 50 2,347,956 2,568,070 50 7,226,166 5,059,408 9,574,122 7,627,478 (6). 811,378 643,281 124

. (7). (a) 112,480 140,615 112,480 140,615 112,479 140,610 (a) 73,961 140,610 38,518 1 5 112,480 140,615 73,961,000140,610,000 19,310,913 2.6% 38,518,000 28,000,000 0.5% 125

. (8). (a) 286,419 125,897 (b) 1,340,778 1,293,492 1,627,197 1,419,389 1,627,197 1,419,389 (a) % % 40,000,000 50 50 1,429,380 1,159,080 270,300 402,587 18,508 200,000,000 50 50 716,448 518,418 198,030 421 (1,970) (i) 100,000,000 55 55 204,308 105,098 99,210 (780) 126

. (8). (a) 125,897 6,941 132,838 100,000 (985) 99,015 (i) 24,998 (429) 29,997 54,566 125,897 124,998 5,527 29,997 286,419 (i) 25% 55% (b) % % (i) 5,000,000 14 14 55,234 530 54,704 150 15,565 18,000,00 49.22 49.22 5,909 5,799 110 4,098 (500) 72,190,000 35 35 403,597 281,781 121,816 82,208 17,432 92,500,000 30 30 1,727,512 1,097,589 629,923 672,175 (15,905) 95,000,000 40 40 1,402,096 760,675 641,421 1,778 (4,324) 127

. (8). (b) % % 95,000,000 40 40 1,365,663 680,349 685,314 192,240 26,204 (ii) 5,640,000 59.5 33 924,039 1,002,109 (78,070) 178,025 (28,725) 165,000,000 40 40 2,676,570 1,224,473 1,452,097 1,254,269 199,161 10,000 20 20 25 19 6 (20) 2,000,000 20 20 381,351 376,160 5,191 (6,640) 1,000,000 38 38 7,041 1,234 5,807 (4,152) (i) (ii) 59.5% 34% 128

. (8). (b) 7,440 2,179 (1,960) 7,659 301 (246) 55 36,535 6,101 42,636 193,749 (6,158) 187,591 258,295 (4,139) 254,156 263,643 6,392 270,035 (iii) 501,175 74,224 575,399 10 (4) 6 2,347 (1,328) 1,019 3,800 (1,578) 2,222 (8)(a) 29,997 (29,997) 1,293,492 3,800 75,443 (1,960) (29,997) 1,340,778 (iii) 9,767,0004,320,000 14,087,0004,320,000 129

. (9). 286,474 615,025 901,499 334,038 84,018 418,056 620,512 699,043 1,319,555 (7,609) (7,609) (62) (15,416) (15,478) (62) (23,025) (23,087) 620,450 676,018 1,296,468 286,474 607,416 893,890 15,375,0007,609,000 78,453,000 18,607,0008.25% 5.79% 130

. (9). 476,015,000 476,004,000 999,200,000 600,000,000 (23)(c) 100,240,000 303,786,000 400,000,000 (15) 10 50 676,018 607,416 13,000,000 131

. (10). 674,266 43,828 34,257 752,351 7,311 4,723 12,034 659 555 1,214 (498) (2,023) (2,521) 674,266 51,300 37,512 763,078 (179,183) (19,606) (24,207) (222,996) (27,566) (8,827) (5,228) (41,621) 496 1,959 2,455 (206,749) (27,937) (27,476) (262,162) 467,517 23,363 10,036 500,916 495,083 24,222 10,050 529,355 405,094,000 601,431,000 430,919,000 601,431,000 393,234,000 240,000,000 (23)(c)) 25,825,000 15,796,00025,825,00014,041,000 132

. (11). 52,283 43,743 (1,046) 42,697 (9,585) 1,046,0001,046,000 1,046,0001,046,000 42,697,000 52,283,000 43,743,000 52,283,000 393,234,000 240,000,000 (23)(c) 10 50 42,697 43,743 (12). (5)(c) 603,877 395,453 (i) 220,290 824,167 395,453 (i) 30% 220,290,00030% 133

. (13). 172,770 (14). 3,844 3,844 30,322 9,104 39,426 34,166 9,104 43,270 (15). 1,200,000 750,000 60,000 1,260,000 750,000 800,000,000 750,000,000 (5) 400,000,000 (9) 60,000,000 9.85% 6.02% 134

. (16). 2,752,337 1,999,457 61,251 14,853 2,813,588 2,014,310 (17). 7,754,766 7,323,768 13,988 13,066 7,768,754 7,336,834 135

. (18). 49,026 277,813 (222,388) 104,451 302 1,446 (1,325) 423 7,135 29,743 (34,785) 2,093 271 8,612 (8,127) 756 336 17,557 (17,004) 889 6,510 1,271 (7,413) 368 11 1,085 (1,066) 30 7 556 (536) 27 662 (639) 23 10,550 (9,933) 617 3,446 3,629 (2,369) 4,706 44,823 10,251 (46,206) 8,868 7 198 (8) 197 104,739 333,630 (317,014) 121,355 (19) 496,294 336,701 1,095,912 850,428 125,286 200,582 23,441 18,774 1,740,933 1,406,485 136

. (20). 220,839 422,157 Reco Camellia Pte Ltd.Reco Camellia 294,042 294,042 Reco Hibiscus Pte Ltd.Reco Hibiscus 285,764 230,850 8,535 55,986 14,000 5,581 884,747 947,049 (21). 1,160,318 170,582 7,800 98,844 75,658 23,948 46,409 (2) 185,770 369,500 (a) 135,383 56,714 43,429 112,243 402,879 62,637 (b) 605,734 (b) 19,285 183,024 28,805 35,536 131,153 2,901,950 1,053,701 137

. (21). (a) (b) 56,714,000 75,656,000 10% ( )(2) (22). (a) 3,375,640 1,330,000 (b) 205,882 223,111 3,581,522 1,553,111 (a) (b) (23) Reco Camellia12,375,0006.336% 17,300,0006.633%3,000,0006.336% 138

. (23). (a) 30,000 (b) 35,000 110,193 (c) 4,498,880 2,451,560 183,234 (d) 2,550,000 3,550,000 (e) 1,657,620 1,807,620 (f) 310,000 9,374,927 7,809,180 (a) (2,000) (b) (35,000) (c) (731,020) (130,000) (d) (1,000,000) (1,000,000) (e) (1,607,620) (200,000) (3,375,640) (1,330,000) 5,999,287 6,479,180 139

. (23). (a) 30,000,000 2,000,000 (b) 145,193,000 35,000,000 (c) 999,200,000 20,000,000(5) (9) 60,000,000 3,189,680,000 2,191,560,000 (5) 73,000,000 85,680,000 150,000,000 264,340,00068,000,000 393,234,000 240,000,000 (10) (11) 210,000,000 30,000,000 183,234,000 1.8% 140

. (23). (c) (d) 100,000,000 100,000,000 2,550,000,000 3,550,000,000 (5) 1,000,000,000 (e) 500,000,000 700,000,000 282,620,000 282,620,000 825,000,000 95%825,000,000 50,000,000 141

. (23). (f) 310,000,000 155,000,000 155,000,000 (5) 6.57% 5.53% (24). 989,211 1,145,763 2,134,974 (a) 2009 764 1,800,000,000 1,000,000,000 986,000,000 5 6.5% 991,872,000 200,000,000 180 142

. (24). (b) 1,150,000,000 1,140,078,000 4.75% (25). (a) 遞延所得稅資產 8,276 33,104 6,000 24,000 75,580 302,320 131,966 527,864 66,124 264,496 45,443 181,772 67,440 269,760 19,025 76,100 217,420 869,680 202,434 809,736 414,979,000 198,901,000103,745,000 49,725,000 31,194 23,322 8,445 31,194 80,793 8,445 55,147 80,793 239,400 55,147 414,979 198,901 143

. (25). (a) 10,166,000 10,166,0002,542,000 2,542,000 (b) 8,305 33,225 24,752 99,008 140,248 560,992 128,304 513,216 23,004 92,016 25,505 102,020 171,557 686,233 178,561 714,244 (c) 188,913 168,912 143,050 145,039 144

. (26). 2,027,960 2,027,960 2,027,960 2,027,960 (27). (a) 1,028,215 (102,949) 925,266 74,258 (49,340) 24,918 35,974 35,974 95,538 95,538 1,233,985 (152,289) 1,081,696 (b) 1,027,403 812 1,028,215 113,923 (39,665) 74,258 35,974 35,974 110,482 (14,944) 95,538 1,287,782 812 (54,609) 1,233,985 145

. (27). (a) AG BCL, LLCAG BCL, LLC AG Wuxi Residential SRLAG Wuxi 100% 16,000,000AG Wuxi 40% 40% 48,867,000 31.04% 47,500,000 70,409,000 49% 29,301,000 29,301,00049% 16,327,000 51% (b) 40% 20,000,000 40% 812,00050% 146

. (28). 146,034 184,197 330,231 105,978 40,056 146,034 10% 50% 184,197,00040,056,000 147

. (29). 385,312 365,033 365,033 223,076 642,523,000404,145,000 238,378,000107,133,000 0.11 2,027,960,000 223,076,000 0.18 2,027,960,000 365,033,000 0.19385,312,000 148

. (30). 393,158 203,888 217,097 211,058 146,144 137,764 104,769 103,878 332,287 295,137 294,518 297,874 50,559 117,732 117,816 318,231 322,126 337,001 343,092 93,543 124,962 22,251 22,251 11,853 164,658 168,206 7,588 4,970 2,560,830 2,403,581 (31). (a) 7,480,141 6,492,649 (b) 43,180 1,146 7,523,321 6,493,795 149

. (31). (a) 4,613,997 3,894,525 (b) 420 2,835 4,614,417 3,897,360 (a) 7,377,600 4,513,231 6,404,370 3,803,989 102,541 100,766 88,279 90,536 7,480,141 4,613,997 6,492,649 3,894,525 2011 11 1 (b) 43,180 420 1,146 2,835 150

. (32). 416,331 342,229 365,051 469,478 35,400 21,200 816,782 832,907 (33). 854,305 399,221 418,491 244,034 270,279 68,851 119,596 65,662 45,939 20,674 9,124 49,716 (800,874) (348,367) 62,555 100,570 (78,215) (63,624) 4,984 (5,685) 28,890 5,389 18,214 36,650 151

. (33). 372,917 435,814 232,024 155,187 45,574 12,010 418,491 435,814 244,034 155,187 (34). 9,104 1,203 (35). 96,973 (4,551) (396) - 1,318 32,979-2,835 19,891 (7,104) 98,291 43,654 152

. (35). 1,318,000 96,973,00032,979,00010,675,000 (36). 41,621 39,866 1,046 1,046 103 273 191,892 94,955 8,550 6,968 1,462 481 (37). 473,339 463,154 (17,487) (87,923) 455,852 375,231 153

. (37). 1,635,891 1,436,156 25% 408,973 359,039 (24,243) 1,138 (12,238) 11,272 13,091 304 59,850 13,897 455,852 375,231 (38). 955,062 918,155 2,027,960 2,027,960 47 45 47 45 154

. (39). (64,465) (19,908) (1,321) (32,979) 16,446 13,222 (49,340) (39,665) (29,888) 3,299 (661) (46,041) (70,214) 155

. (40). (a) 1,180,039 1,060,925 (34) 9,104 1,203 (10) 41,621 39,866 (11) 1,046 1,046 273 103 (83) (266) 64,269 94,885 (35) (98,291) (43,654) (2) (2,195) (5,264) (19,997) (110,246) (406) 22,323 (2,934,702) (2,059,258) (39,850) (1) (346,719) 66,687 1,245,524 263,290 430,174 2,273,811 (430,240) 1,565,498 156

. (40). (b) 7,974,900 8,429,444 (8,429,444) (4,879,372) / (454,544) 3,550,072 (c) (1) 8,352,243 8,460,068 (1) (377,343) (30,624) 7,974,900 8,429,444 (d) 157

. 5 3,153,273 3,183,075 821,900 262,532 102,541 7,523,321 69,550 (69,550) 95,077 87,476 41,103 84,872 214 337,322 (567,849) 78,215 (186,098) (73,508) (6,131) (139,440) (13,008) (270,922) 626,552 (62,555) 2,253 94,720 96,973 (9,104) (9,104) (4,612) (442) (749) (4,862) (25,883) (6,222) (42,770) 683,750 663,752 164,471 29,943 (15,295) 69,270 40,000 1,635,891 (226,761) (163,608) (39,543) (9,143) (6,797) (10,000) (455,852) 456,989 500,144 124,929 20,799 (15,295) 62,473 30,000 1,180,039 22,196,771 8,586,513 6,546,569 23,845,274 586,175 18,666,205 (42,716,389) 37,711,118 524,191 1,103,006 1,627,197 159,895 540 216 250,002 275 5,395 416,323 158

. 4,417,478 1,089,533 564,458 334,047 88,279 6,493,795 134,533 (134,533) 14,600 6,282 38,928 3,703 111 63,624 (53,745) (26,365) (315) (13,148) (6,997) (100,570) 1,803 (6,354) (4,551) (1,215) 12 (1,203) (3,328) (393) (1,361) (2,966) (26,016) (6,848) (40,912) 1,087,842 239,247 (35,322) 112,128 (18,455) 50,716 1,436,156 (285,918) (64,488) (23,454) (11,208) 9,837 (375,231) 801,924 174,759 (58,776) 100,920 (18,455) 60,553 1,060,925 15,380,356 7,198,103 6,229,051 8,085,863 599,118 15,460,500 (22,439,204) 30,513,787 521,938 897,451 1,419,389 1,124 7 633 4,892 101 6,757 10% 1,098,363,000830,132,000 159

. (1). (a) (b) 3,300,000 3,300,000 (c) % % % % % % 15.34 16.68 32.02 15.34 16.68 32.02 160

. (2). (8 (3). Reco Camellia (4). (a) 7,903 5,000 3,614 10,267 5,000 2,676 5,000 4,657 29,117 15,000 161

. (4). (b) (i) 193,927 (i) 545,000 (i) 387,128 (385) 104,885 60,000 (5,019) 18,892 221,611 41,849 37,320 (47,000) (29,500) (881,843) (43,884) (7,800) (691,971) 1,287,152 (c) 104,504 74,569 162

. (4). (d) 12,372 (e) 3,451 5,163 (ii) 1,258 6,413 (i) 9,321 4,367 Reco Camellia (1,316) (1,312) (12,573) (13,172) (9,522) 11,122 (i) (ii) 163

. (4). (f) 1,000,000 1,000,000 1,000,000,000 2,060,193 700,000 1,150,000,000 110,193,000 35,000,000 155,000,000 500,000,000 50,000,000 60,000,000 (g) (2) 164

. (4). (h) 22,380 19,797 339 229 22,719 20,026 (5). (a) (2)(a) 15,000 60,000 120,000 60,000 135,000 (b) 36,652 49,326 165

. (5). (c) (12) (i) 428,177 395,453 (ii) 175,700 603,877 395,453 (i) (ii) 175,700,000 10% (d) (4) 162,565 32,237 12,400 12,400 12,400 207,202 166

. (5). (e) (2)(b) 205 464 464 104,500 104,885 60,000 13,873 18,892 33,625 212,462 124,446 (f) (21) 85,500 38,500 1,001,639 119,796 12,286 56,714 426,214 43,679 29,500 7,800 791,504 19,285 2,035,621 596,796 (21)(a) 167

. (5). (g) (20) 220,839 422,157 Reco Camellia 294,042 294,042 Reco Hibiscus 285,764 230,850 55,986 856,631 947,049 (h) 87,927 75,354 Reco Camellia 7,619 6,940 95,546 82,294 (i) 8,868 44,823 168

. (5). (j) 2,447 2,447 3,180 487 42 3,709 1,516 386 42 1,944 505 505 505 505 (i) 463 463 (ii) 42 42 (i) 224 224 244 244 244 244 (ii) 20 20 (i) 139 139 (i) 139 139 (i) 502 119 39 660 (ii) 13 13 (ii) 13 13 (ii) 55 10 3 68 (i) (ii) 169

. (5). (j) 2,420 2,420 3,146 232 29 3,407 1,500 191 29 1,720 500 500 500 500 500 500 242 242 242 242 150 150 389 124 29 542 242 242 150 150 (k) 33 22 4,502 3,148 170

. (5). (k) 0 1,000,000 1,000,001 4,000,000 2 2 (l) 48,300,00025,000,000 10% 90% 60% 11,100,000 H H1.09%0.55%. (1). (a) 8,608,543 10,689,324 2,569,063 3,010,911 171

. (1). (b) 30,250 30,690 1,350 2,717 (2). 5,446 10,492 2,434 8,537 487 5,793 2,006 8,367 26,828 (3). 620,478 626,618 172

. 3,028,311,000 2,973,167,000 (4)(f). (1). (a) 173

. (1). (a) 69,417 1,587,514 1,656,931 293,427 293,427 205,882 205,882 82,273 82,273 68,057 9,689 77,746 223,111 223,111 69,638 69,638 5% 40,326,0005,451,000 (b) 7,562,307,0005,696,560,000 174

. (1). (b) 37,812,000 28,483,000 (2). 175

. (3). 8,352,243 8,352,243 980,051 980,051 17,570 899,712 917,282 9,349,864 899,712 10,249,576 8,460,068 8,460,068 1,450,996 1,450,996 445,169 445,169 9,911,064 445,169 10,356,233 176

. (3). 1,340,278 1,340,278 6,733,009 6,733,009 118,769 118,769 2,203,884 2,441,422 395,173 2,932,991 2,666,611 1,312,169 7,306,944 3,722,055 3,722,055 12,309,284 3,051,760 4,870,495 1,312,169 21,543,708 769,359 769,359 3,896,131 3,896,131 65,000 65,000 1,105,308 1,235,308 428,192 3,398,832 3,351,335 256,933 7,435,292 1,706,145 1,706,145 6,864,827 3,463,832 4,456,643 256,933 15,042,235 177

. (3). 6,542,307 2,857,620 5,791,560 2,557,620 1,235,000 21,000 7,777,307 2,857,620 5,812,560 2,557,620 (4). (a) (b) 178

. (4). (b) 112,479 1 112,480 140,610 5 140,615. RECOSIA CHINA PTE LTD 45% RECOSIA CHINA PTE LTDReco Hibiscus Reco Camellia 100% 50% 45% 179

. (1). 722 13 1,365,359 2,795,095 1,366,081 2,795,108 100,000,000 100,000,000 (2). (a) 160 160 160 160 160 160 180

. (2). (b) (i) 13,805,809 5,777,224 2,363 6,234 10,000 10,000 33,544 24,452 13,851,716 5,817,910 (24,000) (24,000) 13,827,716 5,793,910 (i) 4,249,646,000 2,329,402,0006.34% 7.22% % % % % 13,816,876 100 5,783,070 100 10,240 10,240 24,600 (24,000) 98 24,600 (24,000) 98 13,851,716 100 (24,000) 5,817,910 100 (24,000) 181

. (3). 44,076 44,076 46,137 46,137 10 50 5,742 6,011 (4). 162,565 (162,565) 32,237 (32,237) 12,400 12,400 207,202 (194,802) 12,400 (5). 73,961 140,610 73,961 140,610 73,961 140,610 182

. (6). (i) 184,307 148,914 (12) 220,290 404,597 148,914 (i) (7). (a) 2,761,524 4,854,034 (b) 125,897 (c) 50,350 1,261,138 2,811,874 6,241,069 183

. (7). (a) 100% 100% 734,095 734,095 59.5% 59.5% 21,968 21,968 100% 100% 79,433 79,433 100% 100% 90,437 90,437 IFC 100% 100% 20,480 20,480 Central Plaza 100% 100% 39,466 39,466 100% 100% 369,970 369,970 (i) 0% 0% 199,695 (199,695) 100% 100% 642,625 642,625 55% 55% 136,303 136,303 100% 100% 30,000 30,000 (27)(a) 51% 51% 30,000 (14,700) 15,300 (i) 0% 0% 131,808 (131,808) 100% 100% 60,375 60,375 100% 100% 150,000 150,000 (i) 50% 50% 82,766 82,766 100% 100% 100,000 100,000 100% 100% 5,000 5,000 100% 100% 5,000 5,000 100% 100% 10,000 10,000 100% 100% 10,000 10,000 100% 100% 50,000 50,000 100% 100% 1,000 1,000 (i) 0% 0% 20,000 (20,000) 100% 100% 5,000 5,000 (i) 0% 0% 303,464 (303,464) (i) 0% 0% 363,700 (363,700) (i) 0% 0% 365,146 (365,146) (i) 0% 0% 393,074 (393,074) (i) 0% 0% 325,933 (325,933) 100% 100% 10,000 10,000 100% 100% 67,296 67,296 0.03% 0.03% 10 10 100% 100% 5,000 5,000 100% 100% 5,000 5,000 100% 100% 5,000 5,000 100% 100% 5,000 5,000 100% 100% 5,000 5,000 4,854,034 25,010 (2,117,520) 2,761,524 (i) (3)(iii) 184

. (7). (b) (i) 125,897 4,656 (130,553) (c) 7,440 2,179 (1,960) 7,659 301 (246) 55 36,535 6,101 42,636 (i) 193,749 (5,735) (188,014) (i) 258,295 (3,337) (254,958) (i) 263,643 (5,916) (257,727) 501,175 14,705 (515,880) 1,261,138 7,751 (1,960) (1,216,579) 50,350 (i) 185

. (8). 1,258 803 2,061 1,258 803 2,061 (62) (41) (103) (62) (41) (103) 1,196 762 1,958 186

. (9). 72,925 8,060 15,376 96,361 237 3,200 3,437 72,925 8,297 18,576 99,798 (8,760) (5,960) (7,561) (22,281) (1,741) (1,469) (3,012) (6,222) (10,501) (7,429) (10,573) (28,503) 62,424 868 8,003 71,295 64,165 2,100 7,815 74,080 6,222,0006,848,000 187

. (10). 10,783 10,783 10,783 10,783 (11). 750,000 (12). 8,622,718 4,740,928 369,500 19,332 35,782 8,642,050 5,146,210 188

. (13). 30,000 2,550,000 3,550,000 500,000 700,000 100,000 3,180,000 4,250,000 (2,000) (1,000,000) (1,000,000) (500,000) (200,000) (1,502,000) (1,200,000) 1,678,000 3,050,000 2,680,000 500,000 3,550,000 700,000 189

. (14). (a) 6,000 24,000 6,000 24,000 38,965 155,860 21,630 86,520 9,879 39,516 4,271 17,084 49,236 196,944 37,509 150,036 (b) 8,250 33,001 24,752 99,008 (c) 40,986 12,757 190

. (15). 14,640 20 20 21,999 11,747 4,255 876 40,914 12,643 (16). 987,446 987,446 365,926 (49,507) 316,419 1,353,372 (49,507) 1,303,865 987,446 987,446 405,591 (39,665) 365,926 1,393,037 (39,665) 1,353,372 191

. (17). (a) 117,315 220,300 12,732 130,047 220,300 (a) 2,710 103 3,308 103 6,018 (a) 1,562 7,350 2,710 115,753 212,950 117,315 220,300 2,710 192

. (18). 264,316 272,767 194,796 207,105 67,662 65,662 1,858 6,606 18,721 270,922 291,488 (337,322) (190,033) (1,443) (179) 4,155 2,066 (63,688) 103,342 194,796 69,520 207,105 65,662 193

. (19). 12,769 5,137 1,780,516 423,450 (1,019) (27,010) 14,601 (a) 60,679 1,318 32,979 2,835 (7,141) 1,868,864 430,250 1,318,000 1,867,546,00032,979,000397,271,000 (a) (7) (20). 18,524 (11,727) (9,634) 6,797 (9,634) 194

. (20). 184,768 390,932 25% 462,192 97,733 (455,780) (107,855) 385 488 6,797 (9,634) (21). (a) 1,841,971 400,566 (9)) 6,222 6,848 (8)) 103 269,479 291,309 (19)) (1,868,864) (430,250) (11,727) (9,635) 2,709 (2,754,226) (1,397,866) 3,901,384 2,187,991 (100,000) 1,284,342 1,051,672 195

. (21). (b) 1,266,081 2,795,108 (2,795,108) (1,155,608) (1,529,027) 1,639,500 (c) (1)) 1,366,081 2,795,108 (100,000) 1,266,081 2,795,108. 32,944,175 26,922,430 15,261,533 8,843,071 (21,205,573) (15,270,411) (10,375,381) (7,227,770) 11,738,602 11,652,019 4,886,152 1,615,301. 37,711,118 30,513,787 18,666,204 15,460,501 (21,205,573) (15,270,411) (10,375,381) (7,227,770) 16,505,545 15,243,376 8,290,823 8,232,731 196