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BAOYE GROUP COMPANY LIMITED 寶業集團股份有限公司 ANNUAL REPORT 2014 Website 網址 www.baoyegroup.com 二零一四年年報 Contact 聯絡方式 Investor Relations Department Baoye Group Company Limited 寶業集團股份有限公司投資者關係部 Tel 電話: 86-575-84135837 Fax 傳真: 86-575-84118792 E-mail 電郵: irbaoye@baoyegroup.com BAOYE GROUP COMPANY LIMITED 寶業集團股份有限公司 (A joint stock limited company incorporated in the People s Republic of China) 於中華人民共和國註冊成立的股份有限公司 Stock Code 股票代碼 2355 ANNUAL REPORT 2014 年年報

2 4 6 8 12 30 44 46 49 58 59 61 63 64 65 67 68 139

PC 2

FCIS, FCS 22 5016 100-A 34 518001 9 21 2103-05 1 2 1008 100004 H 183 22 86 575 84882990 312028 501 312030 38 1902 (2355) 86 575 84135837 86 575 84118792 E-mail: irbaoye@baoyegroup.com www.baoyegroup.com 5

18,897,996 17,553,323 17,275,899 16,186,830 12,055,243 1,180,772 1,204,810 1,460,176 1,349,833 951,191 660,787 669,597 756,579 715,843 546,425 648,702 663,312 752,256 710,196 527,875 1.009 1.001 1.135 1.071 0.796 17,368,036 15,958,350 13,733,068 13,103,562 10,959,300 11,277,699 10,348,196 8,643,251 8,655,852 7,129,822 6,090,337 5,610,154 5,089,817 4,447,710 3,829,478 10.9% 12.0% 9.46 8.31 25.5% 25.9% 1.35 1.32 406,751 567,771 6

16,187 17,276 17,553 18,898 1.071 1.135 1.001 1.009 12,055 0.796 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 710 752 663 649 7.52 8.31 9.46 528 5.69 6.59 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 7

18,897,996,000 7.7% 648,702,000 2.2%1.01 0.1 8

18,897,996,000 17,553,323,0008% 840,710,000947,627,000 11% 648,702,000663,312,000 2%1.01 1.00 14,568,202 77% 13,961,972 79% 4% 2,090,226 11% 1,405,818 8% 49% 2,114,170 11% 2,066,685 12% 2% 125,398 1% 118,848 1% 6% 18,897,996 100% 17,553,323 100% 8% 2014 2013 77% 79% 1% 11% 11% 1% 12% 8% 14

452,869 54% 431,777 45% 5% 281,504 33% 376,002 40% 25% 90,729 11% 72,566 8% 25% 15,608 2% 67,282 7% 77% 840,710 100% 947,627 100% 11% 2014 2013 54% 45% 2% 11% 33% 7% 8% 40% 15

14,568,202,000 4%452,869,000 5% 56,539,559,000 15% 18,997,292 34% 16,053,174 33% 18% 18,149,199 32% 15,717,301 32% 15% 9,837,883 17% 9,161,718 18% 7% 9,555,185 17% 8,323,265 17% 15% 56,539,559 100% 49,255,458 100% 15% 2014 2013 34% 32% 33% 32% 17% 17% 17% 18% 16

16,735,710 30% 14,038,117 29% 19% 13,004,099 23% 11,378,263 23% 14% 5,710,495 10% 5,664,503 11% 1% 11,760,228 21% 9,654,284 20% 22% 5,880,114 10% 5,467,477 11% 8% 1,922,345 3% 1,674,723 3% 15% * 1,526,568 3% 1,378,091 3% 11% 56,539,559 100% 49,255,458 100% 15% 2014 2013 30% 23% 29% 23% 10% 11% 3% * 3% 10% 21% 3% * 3% 11% 20% * 17

BT BT 249 198 26% 18

83 19

2,090,226,000 2,233,521,000 49%281,504,000 25% 7,358 142,881 1,051,316 5,498 54,496 299,614 8,604 21,390 184,046 4,773 31,127 148,561 44,536 3,216 143,229 4,351 39,193 170,523 20

28 24 260,000 446,000 100% 300,000 100% 245,000 100% 27,000 100% 384,000 50% 131,000 50% 199,700 63% 170,000 60% 21

5 1,050,000 525,0000.5 12 120,000 300,000 18 106,950245,000 8,13027,000 13,000 14,000 430,000 22

93,000 62,600 199,700 20,00015 900,000 1,200,000 5 8 5.7 28,000 2.0 2.28 15,600 2,114,170,000 2%90,729,000 25% 23

1,126,801 53% 1,086,414 52% 4% 386,484 18% 371,366 18% 4% 251,002 12% 245,147 12% 2% 229,410 11% 262,652 13% 13% 80,107 4% 100,182 5% 20% 40,366 2% 924 0% 4269% 2,114,170 100% 2,066,685 100% 2% PC PC 24

BT BT EPC (Engineer-Procure-Construct)PPP (Public-Private-Partnership) 23 BIM BIM 25

30%47% 20%16% AAA 35 2,298,272 2,159,157 21,034 212,607 270,015 (1,008,000) (1,000,388) 1,523,913 1,428,784 5,976,180 5,507,144 25.5% 25.9% = 26

10.9% 12.0% 9.46 8.31 1.35 1.32 9.2%13.8% 25.5%25.9% 27

(i) 406,751 567,771 (ii) (176,393) (85,294) (iii) (91,243) 64,129 139,115 546,606 i 406,751,000567,771,000 161,020,000 ii 176,393,000 iii 91,243,000H 7,906,00078,648,000 406,867,000 403,512,000 1% 28

85,438 134,037 921,968,000 1,780,782,000 29

A.2.1 3.10(1) 3.10A 32

46 47 34 650,000 5 5 34

4/4 4/4 4/4 4/4 4/4 4/4 4/4 3/4 1/4 2/4 2/4 3.10(1) 35

36 A.6.5

3/3 3/3 0/3* 3/3 * 1/1 1/1 0/1* 1/1 * 37

2/2 1/2 0/2* 0/2* 2/2 * 38

59 60 3.28 3.29 20 H 40

3/3 3/3 3/3 3/3 3/3 3/3 3/3 3/3 3/3 0/3* 0/3* * 87 10%10% 30 41

42 13.51(2) 7 7 38 1902 501

43 150 45 84

H 336XV2 3 H H 28,432,000 10.12% 4.50% Citigroup Inc. 27,455,396 9.77% 4.35% Norges Bank 20,936,000 7.45% 3.31% First Beijing Investment (Cayman) Limited 16,868,000 6.00% 2.67% Top Easy Holdings Limited 16,086,000 5.72% 2.55% H 44

501 45

EMBA 46

38 47

10 61 62 63 6 24 304,479,000 389,292,000 0.10 0.10 5 49

30% 5% 7 50

47 50 34 34(c) 3.13 3.13 51

571XV(i) XV7 8 (ii)xv352 (iii) H 198,753,054 31.46% 361,244 0.71% 12,674,647 2.01% 180,622 0.36% 9,544,775 1.51% 120,415 0.24% 5,794,259 0.92% 2,440,527 0.39% 5,250,290 0.83% 2,424,288 4.77% 11,705,283 1.85% 7,147,039 1.13% 120,415 0.24% 4,533,172 0.72% 120,415 0.24% 2,647,911 0.42% 52

18 H H H H H H H H 1.43 4.05 4.85 10.88 H 180,684,000 36,136,800 43,364,160 52,036,992 53

(%) 258,370,000 0.0635 33,746,000 112,409,000 30% / 0.1436 81,502,000 275,082,000 30% 356,660,000 0.12 73,311,000 304,226,000 24% / 0.07 46,407,000 474,032,000 10% 566,160,000 0.07 46,407,000 225,795,000 21% / 0.08 53,037,000 150,044,000 35% / 0.13 86,185,000 502,239,000 17% / 0.16 106,074,240 527,875,000 20% / 0.21 139,222,000 710,196,000 20% / 0.21 139,222,000 752,256,000 18.5% / 0.10 66,296,401 663,213,000 10% / 0.10 63,174,401 648,702,000 9.7% 1,181,190,000 1,531,251,642 631,744,005 350,742,053 55.52% H 281,001,952 44.48% 631,744,005 100% HH31,220,000 H 10% 4.71%151,070,240 H 54

3,949 3,671 74,73574,318 4,230,264,000 55

3,280 3,250 400 400 56

H H H 18322 501312030 H H H 18322 501312030 57

61 138 59

6 536,240 556,586 4,860 5,089 7 1,234,450 1,185,751 22,856 24,739 8 596,583 560,013 9 16,534 16,534 10 1,217,143 860,153 11(a) 48,699 49,693 50,000 99,000 11(b) 139,245 205,688 233,558 443,685 12(a) 24,423 23,083 14 11,988 10,603 30 63,251 63,575 2,671,413 2,671,526 1,528,417 1,432,666 10 191,269 487,086 15 141,816 170,085 16 4,152,152 3,780,913 17 1,106,578 1,179,160 18 2,569,726 2,338,278 19 1,395,895 1,289,959 20 2,592,414 2,062,209 2,483 2,460 12(b) 40,229 37,048 14 165,900 77,000 21 212,607 270,015 22 21,034 22 2,298,272 2,159,157 67,838 170,690 14,696,623 13,286,824 338,590 660,236 17,368,036 15,958,350 1,867,007 2,092,902 23 631,744 662,964 631,744 662,964 23 756,533 847,295 756,533 847,295 24 145,024 139,534 147,036 147,036 38 63,174 66,296 63,174 66,296 25 4,379,705 3,791,055 241,305 322,996 5,976,180 5,507,144 1,839,792 2,046,587 114,157 103,010 6,090,337 5,610,154 1,839,792 2,046,587 61

29 289,000 242,509 30 63,505 58,929 352,505 301,438 26 2,417,144 2,158,446 27 2,332,662 1,966,302 19,465 38,565 28 3,228,749 2,612,992 428,161 651,885 7,750 7,750 18 1,799,478 1,899,254 29 719,000 757,879 10,925,194 10,046,758 27,215 46,315 11,277,699 10,348,196 27,215 46,315 17,368,036 15,958,350 1,867,007 2,092,902 3,771,429 3,240,066 311,375 613,921 6,442,842 5,911,592 1,839,792 2,046,587 68 138 61 138 62

5 18,897,996 17,553,323 33 (17,717,224) (16,348,513) 1,180,772 1,204,810 31 119,588 70,441 32 9,740 127,559 33 (62,523) (51,671) 33 (406,867) (403,512) 840,710 947,627 35 11(a) (27,997) (17,473) 12(a) 340 (2,509) 813,053 927,645 36 (152,266) (258,048) 660,787 669,597 648,702 663,312 12,085 6,285 660,787 669,597 37 1.01 1.00 38 63,174 66,296 68 138 63

660,787 669,597 (1,528) (1,381) (2,071) (2,270) 5,112 900 1,513 (2,751) 662,300 666,846 650,215 660,561 12,085 6,285 662,300 666,846 68 138 64

662,964 847,295 135,742 3,340,201 4,986,202 103,615 5,089,817 663,312 663,312 6,285 669,597 (1,381) (1,381) (1,381) (2,270) (2,270) (2,270) 900 900 900 (2,751) 663,312 660,561 6,285 666,846 6,940 (6,940) (139,222) (139,222) (7,587) (146,809) 6,940 (146,162) (139,222) (7,587) (146,809) (397) (397) (4,703) (5,100) 5,400 5,400 (397) (397) 697 300 6,543 (146,162) (139,619) (6,890) (146,509) 662,964 847,295 139,534 3,857,351 5,507,144 103,010 5,610,154 65

662,964 847,295 139,534 3,857,351 5,507,144 103,010 5,610,154 648,702 648,702 12,085 660,787 (1,528) (1,528) (1,528) (2,071) (2,071) (2,071) 5,112 5,112 5,112 1,513 648,702 650,215 12,085 662,300 23 (31,220) (90,762) (121,982) (121,982) (63,174) (63,174) (1,977) (65,151) (31,220) (90,762) (63,174) (185,156) (1,977) (187,133) 12 12 14,004 14,016 42 3,965 3,965 (12,965) (9,000) 3,977 3,977 1,039 5,016 (31,220) (90,762) 3,977 (63,174) (181,179) (938) (182,117) 631,744 756,533 145,024 4,442,879 5,976,180 114,157 6,090,337 68 138 66

39 838,481 923,490 (59,626) (53,409) (372,104) (302,310) 406,751 567,771 (50,000) 43,127 (1,400) (1,781) 4,027 (268,400) 107,932 59,026 (173,667) (220,412) 39 6,513 43,968 9,702 12,463 400 600 (21,034) 118,188 69,061 (176,393) (85,294) 1,621,000 1,930,388 (1,613,388) (1,775,000) (63,174) (139,222) 14,016 5,400 (121,982) 83,262 55,250 42 (9,000) (5,100) (1,977) (7,587) (91,243) 64,129 139,115 546,606 2,159,157 1,612,551 2,298,272 2,159,157 68 138 67

1 H 2 2.1 32 4 68

2 2.1 2.1.1 (a) HK32 10 12 27 36 21 (b) 19 2012 2010-2012 2013 2011-2013 14 11 16 38 16 41 10 28 27 2014 15 9 69

2 2.1 2.1.1 (c) 622 622 9 358 622 9 2.2 (a) 2.7 70

2 2.2 (b) (c) (d) 71

2 2.2 (e) 20% 50% 2.3 72

2 2.4 (a) (b) (c) 73

2 2.5 20 10 4~5 3~5 2.8 2.6 74

2 2.6 2.7 2.8 75

2 2.9 (a) 12 2.15 2.17 12 (b) 76

2 2.10 (a) (b) 77

2 2.11 2.12 2.12 2.13 2.14 2.15 78

2 2.16 2.17 79

2 2.18 2.19 2.20 12 80

2 2.21 (a) (b) (i) (ii) (c) 81

2 2.22 2.23 (a) (b) (c) 82

2 2.23 (d) 2.24 2.25 83

2 2.26 (a) (b) (c) (d) (e) (f) 2.27 (a) (b) 84

2 2.28 2.29 3 3.1 (a) (i) ` 85

3 3.1 (a) (i) 171,941 88,223 12,697 37,934 8,057 4,794 2,812 1,599 1,951 456 (125,568) (71,868) (17,344) (18,735) (5,623) (4,590) 5% (6,448) (3,308) 4,233 1,273 348 523 105 112 (73) (17) 86

3 3.1 (a) (ii) (iii) 1% 5,300,000 4,880,000 11(b) 87

3 3.1 (b) 70% 88

3 3.1 (c) 719,000 289,000 1,008,000 40,587 8,788 49,375 2,417,144 2,417,144 1,877,687 1,877,687 6,052 85,438 85,438 577,000 5,139,856 297,788 5,437,644 583,052 757,879 44,509 198,000 1,000,388 32,752 13,951 4,878 51,581 2,158,446 2,158,446 1,656,799 1,656,799 17,409 134,037 134,037 477,000 4,739,913 58,460 202,878 5,001,251 494,409 89

3 3.2 3.3 8 9,318 2,670 11,988 165,900 165,900 9,318 168,570 177,888 90

3 3.3 5,263 5,340 10,603 91

3 3.3 5,340 5,340 268,400 268,400 (2,670) (105,262) (107,932) 2,762 2,762 2,670 165,900 168,570 5,340 56,320 61,660 (59,026) (59,026) 2,706 2,706 5,340 5,340 92

4 (a) 10%10%59,894,000 53,949,000 60,391,000 54,369,000 (b) 93

4 (c) (d) 8 5 94

5 15,469,583 2,090,226 2,434,580 128,820 20,123,209 (901,381) (320,410) (3,422) (1,225,213) 14,568,202 2,090,226 2,114,170 125,398 18,897,996 452,869 281,504 90,729 15,608 840,710 31,360 5,326 46,449 27,525 110,660 6,646 3,517 2,605 12,768 3,038 11,298 14,336 23,316 4,681 27,997 (340) (340) 108,740 8,967 25,659 8,900 152,266 14,653,253 1,405,818 2,344,436 124,924 18,528,431 (691,281) (277,751) (6,076) (975,108) 13,961,972 1,405,818 2,066,685 118,848 17,553,323 431,777 376,002 72,566 67,282 947,627 34,655 3,947 41,106 24,323 104,031 6,919 3,499 2,605 13,023 1,705 6,342 8,047 17,166 307 17,473 2,509 2,509 89,876 128,924 20,637 18,611 258,048 95

5 14,568,202 13,961,972 2,114,170 2,066,685 2,090,226 1,405,818 46,951 12,360 78,447 106,488 18,897,996 17,553,323 6 556,586 576,183 5,089 5,319 (7,578) (6,574) (12,768) (13,023) (229) (230) 536,240 556,586 4,860 5,089 50 155,963 159,593 10 50 380,277 396,993 4,860 5,089 536,240 556,586 4,860 5,089 8,831,000 29(a) 96

7 964,705 400,407 118,336 185,009 192,988 1,861,445 (301,456) (196,689) (86,910) (166,172) (751,227) 663,249 203,718 31,426 18,837 192,988 1,110,218 663,249 203,718 31,426 18,837 192,988 1,110,218 36,482 69,108 11,017 13,269 90,536 220,412 11,737 (11,737) (20,308) (17,489) (2,556) (495) (40,848) (42,162) (35,205) (13,088) (13,576) (104,031) 648,998 220,132 26,799 18,035 271,787 1,185,751 978,595 431,430 102,296 194,329 271,787 1,978,437 (329,597) (211,298) (75,497) (176,294) (792,686) 648,998 220,132 26,799 18,035 271,787 1,185,751 648,998 220,132 26,799 18,035 271,787 1,185,751 5,145 35,337 10,197 11,487 107,814 169,980 (580) (919) (2,273) (25) (3,797) 147,559 2,876 (150,435) (2,657) (3,527) (493) (147) (6,824) (46,786) (37,038) (11,671) (15,165) (110,660) 751,679 216,861 22,559 14,185 229,166 1,234,450 1,112,727 459,038 104,610 203,592 229,166 2,109,133 (361,048) (242,177) (82,051) (189,407) (874,683) 751,679 216,861 22,559 14,185 229,166 1,234,450 97

7 56,275,000 52,868,000 54,385,000 51,163,000 15,005,000 29(a) 153,849 150,755 (53,687) (46,131) (7,701) (7,556) 92,461 97,068 11,144 7,056 98

7 33,464 5,964 6,425 45,853 (9,107) (5,666) (5,552) (20,325) 24,357 298 873 25,528 24,357 298 873 25,528 108 108 (11) (11) (451) (1) (434) (886) 23,906 297 536 24,739 33,464 5,964 6,015 45,443 (9,558) (5,667) (5,479) (20,704) 23,906 297 536 24,739 23,906 297 536 24,739 52 52 (22) (22) (1,590) (1) (322) (1,913) 22,316 274 266 22,856 33,464 5,525 6,067 45,056 (11,148) (5,251) (5,801) (22,200) 22,316 274 266 22,856 1,913,000 886,000 99

8 560,013 491,974 34,346 2,224 68,039 596,583 560,013 (a) 35,807 5,304 (7,391) (1,099) 28,416 4,205 560,013,00029(a) 32 100

8 1 2 3 596,583 1 2 3 560,013 1 2 3 101

8 3 560,013 34,346 491,974 2,224 68,039 596,583 560,013 2,224 68,039 2,224 68,039 2 3 102

8 3 596,583 RMB19-RMB82 7% 7% 560,013 RMB19-RMB82 7.25% 7.25% 103

9 31% 17% 10 1,217,143 860,153 191,269 487,086 104

10 100% 910,000 83.1% 16.9% 50,800 73.68% 26.32% 228,000 100% 50,000 90% 10% 50,000 100% 100,000 40% 60% 53,600 40% 60% 31,514 105

10 100% 5,000 100% 18,000 100% 20,000 95% 5% 20,000 100% 86,000 100% 30,000 100% 10,000 100% 110,000 100% 111,800 106

10 100% 50,800 100% 110,000 100% 50,190 100% 20,000 100% 20,080 100% 20,000 100% 18,300 100% 1,000 107

10 100% 80,000 100% 20,000 100% 6,000 20% 80% 10,000 (a) 50% 50% 20,000 55% 45% 20,000 75% 25% 20,000 100% 20,000 (a) 50% (b) 108

11 (a) 49% 50% 49,000 (49,000) 50,000 (307) 49,693 99,000 (49,307) 49,693 (4,681) (4,681) 3,687 3,687 99,000 (50,301) 48,699 110,777 83,312 12,742 11,352 706,524 1,039,222 92,271 98,924 817,301 1,122,534 105,013 110,276 284,173 419,771 627,791 749,843 7,615 10,890 911,964 1,169,614 7,615 10,890 (94,663) (47,080) 97,398 99,386 109

11 (a) 329,708 301,694 27,049 2,958 (47,583) (35,032) (1,988) (614) (47,583) (35,032) (1,988) (614) (94,663) (47,080) 97,398 99,386 49% 49% 50% 50% (46,385) (23,069) 48,699 49,693 46,385 23,069 48,699 49,693 49,000 49,000 50,000 50,000 (i) (49,000) 50,000 99,000 110

11 (b) 222,854 413,360 30,325 (17,166) 205,688 443,685 (43,127) (43,127) (23,316) 139,245 400,558 (i) (167,000) 139,245 233,558 7.19% (i) 15% 216,000,000 12 (a) 23,083 27,888 1,400 (1,696) 340 (2,509) (400) (600) 24,423 23,083 111

12 (a) 472 (467) 20% (663) (1,239) 29% 531 (803) 29% (b) 37,048 35,668 1,781 1,400 1,380 40,229 37,048 4% 112

13 14 177,888 77,000 19 1,395,895 20 1,486,083 2,483 10 191,269 11(b) 139,245 233,558 12(b) 40,229 21 212,607 22 21,034 22 2,298,272 67,838 5,593,365 177,888 495,148 77,000 14 10,603 19 1,289,959 20 1,382,452 2,460 10 487,086 11(b) 205,688 443,685 12(b) 37,048 21 270,015 22 2,159,157 170,690 5,344,319 10,603 1,103,921 113

13 26 2,417,144 27 1,877,687 6,052 29 1,008,000 5,302,831 6,052 26 2,158,446 27 1,656,799 17,409 29 1,000,388 4,815,633 17,409 14 10,603 68,429 268,400 77,000 (107,932) (59,026) 6,817 1,200 177,888 10,603 77,000 114

14 9,318 5,263 (a) 2,670 5,340 11,988 10,603 (b) 165,900 77,000 177,888 10,603 77,000 (a) (b) 3.50% 4.05% 165,900,000 15 58,229 54,333 35,532 47,818 48,055 67,934 141,816 170,085 1,707,269,000 1,693,921,000 115

16 1,978,605 2,430,965 2,055,925 1,252,370 117,622 97,578 4,152,152 3,780,913 1,155,332 1,597,359 2,996,820 2,183,554 4,152,152 3,780,913 921,968,000 1,196,933,00029(a) 17 321,762 412,890 766,008 743,843 18,808 22,427 1,106,578 1,179,160 116

18 56,539,559 49,255,458 (55,769,311) (48,816,434) 770,248 439,024 2,569,726 2,338,278 (1,799,478) (1,899,254) 770,248 439,024 1,067,770,000 1,070,721,00020 19 1,457,083 1,346,223 (61,188) (56,264) 1,395,895 1,289,959 117

19 1 31 12 3 532,215 562,549 3 1 493,637 420,870 1 2 250,280 217,899 2 3 92,145 79,752 3 88,806 65,153 1,457,083 1,346,223 1,374,685,000 1,279,958,000 3 532,215 562,549 3 1 493,637 420,870 1 2 250,010 212,537 2 3 83,424 68,409 3 15,399 15,593 1,374,685 1,279,958 118

19 82,398,000 66,265,000 61,188,000 56,264,000 1 2 270 5,362 2 3 8,721 11,343 3 73,407 49,560 82,398 66,265 56,264 48,217 14,336 8,047 (9,412) 61,188 56,264 1,287,060 1,250,810 108,835 39,149 1,395,895 1,289,959 119

20 1,067,770 1,070,721 1,041,091 611,047 65,240 68,710 418,313 311,731 2,483 2,460 2,592,414 2,062,209 2,483 2,460 2,585,706 2,054,411 4,522 4,050 2,094 3,664 92 84 2,592,414 2,062,209 658,387,000 620,094,000 21 120

22 2,471,856 2,287,682 67,838 170,690 60,057 141,490 2,531,913 2,429,172 67,838 170,690 2,449,998 2,343,113 66,370 170,686 63,106 49,074 8,175 33,884 5,963 1,130 2,720 1,515 1,951 456 1,468 4 2,531,913 2,429,172 67,838 170,690 (21,034) 21 (212,607) (270,015) 2,298,272 2,159,157 67,838 170,690 1.25%1.15% 121

23 350,742 350,742 350,742 H * 312,222 312,222 847,295 1,159,517 662,964 662,964 847,295 1,510,259 H * (31,220) (31,220) (90,762) (121,982) 350,742 350,742 350,742 H * 281,002 281,002 756,533 1,037,535 631,744 631,744 756,533 1,388,277 350,742 350,742 350,742 H * 312,222 312,222 847,295 1,159,517 662,964 662,964 847,295 1,510,259 * H H31,220,000 H 10% 4.71%151,070,000 121,982,000 31,220,000 H 31,220,000 631,744,005631,744,005 631,744,000 631,744,000 1.00350,742,000 281,002,000H 662,964,000662,964,000 1.00350,742,000 312,222,000H 122

24 2,909 3,816 140,096 (11,079) 135,742 6,940 6,940 (1,381) (1,381) (3,026) (3,026) 30 756 756 14 1,200 1,200 30 (300) (300) (397) (397) 1,528 2,446 147,036 (11,476) 139,534 1,528 2,446 147,036 (11,476) 139,534 (1,528) (1,528) (2,762) (2,762) 30 691 691 14 6,817 6,817 30 (1,705) (1,705) 12 12 3,965 3,965 5,487 147,036 (7,499) 145,024 123

24 147,036 140,096 6,940 147,036 147,036 (a) (b) 10% 50% 25% 25 3,340,201 456,953 663,312 78,501 (139,222) (139,222) (6,940) (6,940) 3,857,351 389,292 3,857,351 389,292 648,702 (21,639) (63,174) (63,174) 4,442,879 304,479 366,850,000 351,418,000 15,432,000 35,390,000 124

26 3 820,598 859,803 3 1 957,403 784,555 1 2 356,650 241,898 2 3 136,976 134,227 3 145,517 137,963 2,417,144 2,158,446 27 1,183,546 1,064,805 284,059 230,556 13,413 21,156 (a) 246,262 163,000 (b) 98,423 72,493 78,947 9,790 8,812 438,089 420,182 6,052 17,409 2,332,662 1,966,302 19,465 38,565 (a) (b) 8,889,00078,000 28 125

29 (a) 289,000 242,509 (a) 12,000 232,491 (b) 205,000 165,000 502,000 360,388 719,000 757,879 1,008,000 1,000,388 (a) 921,968 1,196,933 8,831 15,005 560,013 921,968 1,780,782 (b) 205,000 165,000 126

29 (c) 1 719,000 757,879 1 2 289,000 44,509 2 5 198,000 1,008,000 1,000,388 5.85% 5.82% 30 12 49,840 46,614 12 13,411 16,961 63,251 63,575 12 (46,131) (44,111) 12 (17,374) (14,818) (63,505) (58,929) (254) 4,646 127

30 16,461 37,142 53,603 2,125 7,847 9,972 18,586 44,989 63,575 3,584 (3,908) (324) 22,170 41,081 63,251 (1,274) (19,226) (17,295) (37,795) 1,336 (5,916) (17,010) (21,590) 456 456 (818) (17,890) (23,211) (17,010) (58,929) 4,528 (4,820) (3,270) (3,562) (1,014) (1,014) (1,832) (13,362) (28,031) (20,280) (63,505) 128

30 146,930,000 108,345,000 31 32 5,787 6,847 2,762 3,026 8 2,224 68,039 2,124 5,889 100 (2,745) (11,486) (311) 3,120 759 45,227 (201) 6,138 9,740 127,559 129

33 7 110,660 104,031 6 12,768 13,023 34 4,230,264 3,952,729 10,185,168 9,937,034 1,719,445 902,602 32,165 (63,663) 1,675,104 1,757,584 6,659 12,038 3,680 3,650 210,701 184,668 18,186,614 16,803,696 11,048,000 12,293,000 34 4,150,381 3,880,887 54,376 49,422 (a) 25,507 22,420 4,230,264 3,952,729 (a) 18% 20%18% 20% 130

34 (b) (i) 100 1,000 7 1,107 100 1,000 7 1,107 100 750 7 857 100 750 20 870 100 750 7 857 201 201 201 201 (ii) 25 25 (ii) 25 25 577 7 584 (ii) 432 7 439 (ii) 400 7 407 50 50 (ii) 25 25 1,027 5,659 69 6,755 (i) 100 900 6 1,006 100 900 6 1,006 100 650 6 756 100 650 20 770 100 650 6 756 180 180 180 180 (iii) 50 50 (iii) 50 50 570 6 576 (iii) 359 6 365 (iii) 50 50 50 50 (iii) 50 50 1,110 4,679 56 5,845 131

34 (b) (i) (ii) (iii) (c) 35 59,626 53,409 (59,626) (53,409) 6.24%6.10% 132

36 (a) (b) 15% 25%25% (c) 30% 60% 219,122 248,418 7,906 22,412 (78,648) (24,400) 3,886 11,618 152,266 258,048 133

36 813,053 927,645 (340) 2,509 27,997 17,473 840,710 947,627 25%25% 210,178 236,907 (9,427) (9,719) (12,934) 7,858 4,792 11,675 28,307 (2,028) (748) 17,686 497 223,008 260,036 (70,742) (1,988) 152,266 258,048 37 648,702 663,312 642,962 662,964 1.01 1.00 134

38 0.10 0.10 63,174 66,296 0.10 0.10 63,174,000 66,296,000 H 63,174,000 39 660,787 669,597 36 152,266 258,048 7 110,660 104,031 6 12,768 13,023 32 311 (3,120) 32 (2,124) (5,889) 32 (2,762) (3,026) 32 (45,227) (100) (1,528) (1,381) (119,588) (70,441) 12 (340) 2,509 11 27,997 17,473 32 (2,224) (68,039) (273,377) (718,867) 57,408 (56,819) 24,505 (44,304) (331,224) (171,195) (654,298) (338,469) 615,757 789,346 563,587 596,240 838,481 923,490 135

39 7 6,824 40,848 32 (311) 3,120 6,513 43,968 40 85,438 134,037 577,000 477,000 136

41 (a) 1,545,772 1,410,443 (b) 2,791 2,927 3,126 4,982 5,917 7,909 (c) 44,578 31,251 117,117 93,866 174,248 174,727 335,943 299,844 137

42 9,000,000 1% 12,965,000 3,965,000 12,965 (9,000) 3,965 43 11 12 11 12 29(b) 34(b) 138

H 1.00 139

571 H 140