GREENTOWN CHINA HOLDINGS LIMITED 綠城中國控股有限公司 (incorporated in the Cayman Islands with limited liability) (Stock Code: 03900) 於開曼群島註冊成立的有限公司 股票代碼 03900 中期報告
2 4 6 9 11 16 24 26 33 34 35 37 38 39 63
2 綠城中國控股有限公司 二零一四年中期報告 公 司 簡 介 POST C ARD
3 TOP10 TOP10 2012-2013 2014 3 500 2014 102014 10 2014 102014 10 2012 6 8 51 41.6 4.9 2014 22014 6 30 24.3% 2012 6 22 50% 2014 5 22 Lead Sunny Investments Limited 12 524,851,793 24.3% 2014 6 30 3,782
4 Maples Corporate Services Limited PO Box 309, Ugland House South Church Street George Town, Grand Cayman KY1-1104, Cayman Islands 183 17 1712 1716 Royal Bank of Canada Trust Company (Cayman) Limited 4th Floor, Royal Bank House 24 Shedden Road, George Town Grand Cayman KY1-1110 Cayman Islands Maples and Calder 1 A 10 310007 16 18 1 14 1406 1408 ir@chinagreentown.com (852) 2523 3138 (852) 2523 6608 greentown@hkstrategies.com (852) 2894 6321 (852) 2576 1990 03900 www.chinagreentown.com www.greentownchina.com
5 / * ** : * 2014 6 27 ** 2014 8 8
6 31% 10% 15% 26% 18% 3,782
7 / 31.2% (%) 11,793 14.4% (%) 5,443 10.2% (%) 3,869 9.2% (%) 3,481 6.7% (%) 2,523 5.7% (%) 2,170 4.5% (%) 1,719 3.1% (%) 1,190 2.8% (%) 1,064 2.3% (%) 871 1.7% (%) 631 1.6% (%) 606 0.8% (%) 308 0.6% (%) 210 5.2% (%) 1,945 21 1,725 3,869 10.2% 33 6,558 11,793 31.2% 7 1,340 3,481 9.2% 12 763 2,170 5.7% 10 2,450 5,443 14.4% 3 1,049 2,523 6.7% 1 1,728 1,719 4.5% 3 294 606 1.6% 12 3,782 6,219 16.5% 102 19,689 37,823 100%
8 綠城中國控股有限公司 二零一四年中期報告 管理層 討論與分析 管 理 層 討 論 與 分 析 RD A POST C
9 20 2014 6 30 12,560 2013 10,214 23.0%3,224 2013 3,158 2.1% 2,83124.0%2013 29.7% 2009 613 2013 1,855 67.0% 661 2013 1,620 59.2% 121 2013 685 806 2014 2014 6 30 124305 29 47% 132 22,279 20,395 20145 180 109 52 9.5
10 / 2014 6 30 3,782 2,048 2,6491,413 3,256 2014 1 5 9% 2013 2012 25.5
11 / 2014 5 22 12 524,851,793 63 24.3%
12 / 14
13 /
14 / 2012 6 8 2013 2014 24.3% 2014301 31 2014330
15 / 2014 100% 120,766 80% 67,934 51% 185,213 55.2% 86,246 96.875% 34,012 65% 80,653 70% 72,620 100% 82,693 80% 21,275 100% 189,348 100% 16,662 51% 61,960 64% 13,106 60% 277,675 60% 71,165 50% 14,774 85% 68,715 1,464,817 50% 179,907 49.34% 236,415 25% 113,789 50% 52,710 34,145 45% 86,954 37.5% 194,750 40% 153,436 15% 22,164 55% 185,294 50% 56,533 19.5% 33,809 24.5% 162,914 48.5% 196,901 25% 123,598 1,833,319 3,298,136 2014 6 30822414
16 / 11,805 94.0%2013 9,5962,20923.0% 17,942 2013 14,84320.9%
17 / 2014 216,317 3,038 25.7% 14,044 47,592 2,220 18.8% 46,646 25,300 1,325 11.2% 52,372 75,065 624 5.3% 8,313 65,361 606 5.1% 9,272 228,331 3,992 33.9% 17,483 657,966 11,805 100% 17,942
18 / 4,16735.3% 3,65831.0% 1,325 11.2% 8,08568.5%3,501 29.7% 219 1.8% 319 2013 284 12.3% 164 2013 130 26.2% 2014
19 / 119 2013 101 17.8% 59 2013 53 2,831 24.0%201329.7% 2009 4062013 350 16.0% 242 2013 223 8.5% 3452013 277 24.5% 646 2013 377269 69 2013 18 1,274 2013 1,006 26.6%
20 / 2732013 266 1,470 2013 994 47.9% 7.9%20138.8% 1,197 81.4% 121 2013 685 806
21 / 167 12 2 15,022 2013 13,221 13.6% 2013 518,173 52.6% 790,900 2013 25,515 25.6% 18,994 9.3% 2014 126,508 4,112 27.4% 32,504 75,972 1,892 12.6% 24,904 145,862 1,157 7.7% 7,932 61,880 1,109 7.4% 17,922 60,255 1,068 7.1% 17,725 17,300 1,059 7.0% 61,214 303,123 4,625 30.8% 15,258 790,900 15,022 100% 18,994
22 / 5832013 472580 2013 692 34.3% 25.0% 2013 525 862013 33 2014 6 30 23,702 2013 12 31 23,428 2014 6 30 40,712 2013 12 31 42,7262,0144.7% 2014 6 30 9,5032013 12 31 11,281 35,8982013 12 31 30,512 26,395 2013 12 31 19,231 78.1%2013 12 31 60.1% 2014 6 3035,898 7,843 28,05521.8% 78.2% 494 2014 6 30179
23 / 2013 10 2014 6 30 2014 6 30 14,8302013 12 31 14,065 2014 6 30 15,2792013 12 31 17,625 2014 6 30 25,086 2013 12 31 22,725 2014 2014 6 30 5,2772013 12 314,928
24 企業 綠城中國控股有限公司 二零一四年中期報告 管治 企 業 管 治 RD A POST C
25 14 10 2410 34 2014 6 30 2014 8 22 2 2012 6 8 100%
26 其他 綠城中國控股有限公司 二零一四年中期報告 資料 其 他 資 料 POST CA RD
27 2014 6 30 352 1,089,000 1 68,859,000 2 472,124,000 3 9 542,072,000 25.11% 384,490,500 4 9 384,490,500 17.81% 15,000,000 5 336,000 1 100,000,000 6 13,010,000 7 115,000,000 5.33% 13,346,000 0.62% 3,359,000 8 3,359,000 0.16% (1) 2009 1 222009 1 222019 1 21 2.89 (2) Wisearn LimitedWisearn (3) Delta House LimitedDeltaXVDelta 372,124,000 112 88 XV 100,000,000 (4) Profitwise LimitedProfitwise (5) 2009 7 172009 7 172019 7 16 11.59 (6) Tandellen Group LimitedTandellen50% (7) Jamuta Investments Limited (8) 2009 5 132009 5 132019 5 12 7.16 (9) 2014 5 22Delta Wisearn Profitwise 12524,851,793 63 24.31%
28 / 300,000 1 (1) Yu Ka Po Ruby 69,200,000 34.6% 20,000,000 10% 2014 6 30 352 2014 6 30336 1 211 542,072,000 (L) 25.11% Delta 311 372,124,000 (L) 17.24% 3 100,000,000 (L) 4.63% Profitwise 411 384,490,500 (L) 17.81% 5 115,000,000 (L) 5.33% Tandellen 6 100,000,000 (L) 4.63%
29 / 1 Lehman Brothers Holdings Inc. 7 101,400,450 (L) 31,868,575 (S) 4.70% 1.48% HSBC Trustee (Guernsey) Limited 8 524,851,793 (L) 24.31% 9 524,851,793 (L) 24.31% 10 524,851,793 (L) 24.31% (1) LS (2) WisearnXVWisearn 68,859,000 XV(i) Delta372,124,000(ii) 100,000,000 (iii)1,089,000 (3) (2) (4) (5) Tandellen 100,000,00050% 15,000,000 (6) (5) (7) Lehman Brothers Holdings Inc. 101,400,450 (L) 31,868,575 (S) (8) HSBC Trustee (Guernsey) Limited Wheelock Investments Limited WF Investment Partners Limited Wharf China Holdings Limited Target Smart Investments LimitedTarget Smart Enzio Investments LimitedEnzio 524,851,793 (9) Wheelock Investments Limited WF Investment Partners Limited Wharf China Holdings Limited Target Smart Enzio 524,851,793 (10) Wharf China Holdings Limited Target Smart Enzio524,851,793 (11) 2014 5 22Delta Wisearn Profitwise 12524,851,793 63 24.31% 2014 6 30
30 / 2006 6 22 2016 6 21 10% 1% 0.1% 5,000,000 (i)(ii)5 (iii) 2014 6 30 544,500 544,500 2009 1 22 2009 1 222019 1 21 2.89 272,250 272,250 2009 1 22 2010 1 222019 1 21 2.89 272,250 272,250 2009 1 22 2011 1 222019 1 21 2.89 1,089,000 1,089,000 7,500,000 7,500,000 2009 7 17 2009 7 172019 7 16 11.59 3,750,000 3,750,000 2009 7 17 2010 7 172019 7 16 11.59 3,750,000 3,750,000 2009 7 17 2011 7 172019 7 16 11.59 15,000,000 15,000,000 48,000 48,000 2009 1 22 2009 1 222019 1 21 2.89 144,000 144,000 2009 1 22 2010 1 222019 1 21 2.89 144,000 144,000 2009 1 22 2011 1 222019 1 21 2.89 336,000 336,000
31 / 2009 5 13 2009 5 132019 5 12 7.16 59,000 59,000 2009 5 13 2011 5 132019 5 12 7.16 3,300,000 3,300,000 2009 5 13 2012 5 132019 5 12 7.16 3,359,000 3,359,000 2,850,000 42,500 2,807,500 2009 1 22 2009 1 222019 1 21 2.89 3,396,250 79,000 3,317,250 2009 1 22 2010 1 222019 1 21 2.89 4,450,750 217,500 4,233,250 2009 1 22 2011 1 222019 1 21 2.89 13,173,000 13,173,000 2009 6 22 2009 6 222019 6 21 11.00 7,198,500 7,198,500 2009 6 22 2010 6 222019 6 21 11.00 7,460,000 7,460,000 2009 6 22 2011 6 222019 6 21 11.00 38,528,500 339,000 38,189,500 872,500 872,500 2009 6 22 2009 6 222019 6 21 11.00 436,250 436,250 2009 6 22 2010 6 222019 6 21 11.00 436,250 436,250 2009 6 22 2011 6 222019 6 21 11.00 1,745,000 1,745,000 60,057,500 339,000 59,718,500 339,000 23
32 / 2014 1500,000,000 9%493,781,000 2012 82,550,000,000 2014 6 302013 6 30 2014 8 22
33 34 62 2014 6 30 3434 34 2410 34 2014 8 22
34 2014 6 30 6 30 2014 2013 3 12,560,245 10,213,995 (9,336,149) (7,055,929) 3,224,096 3,158,066 4 645,753 377,366 (384,305) (337,818) (889,278) (668,375) 5 (273,082) (265,672) (86,302) (32,950) 24 37,196 24 1,363 704,131 (39,152) 173,655 (81,429) 511,464 6 2,154,860 3,619,867 7 (1,162,973) (1,163,931) 991,887 2,455,936 613,174 1,854,924 378,713 601,012 991,887 2,455,936 9 0.19 0.82 0.19 0.74
35 2014 6 30 2014 6 30 2013 12 31 10 5,775,134 4,864,054 1,831,500 1,831,500 11 9,660,192 10,015,706 12 1,787,042 1,848,221 384,252 377,010 635,547 664,713 7,185 9,385 1,051,572 1,053,244 49,849 21,132,424 20,713,682 13 9,838,618 6,280,067 14 39,324,542 38,967,574 17,736,911 13,062,500 105,383 101,920 15 5,698,105 4,380,556 25,009,117 24,981,206 1,392,980 1,304,209 1,233,162 1,262,909 26 799,894 595,038 8,702,757 10,686,041 109,841,469 101,622,020 16 18,864,887 17,910,929 17 23,701,786 23,428,384 10,857,758 10,775,306 928,301 5,342,270 5,777,814 833,911 1,217,041 1 18 7,842,596 6,017,895 68,371,509 65,127,369
36 / 2014 6 30 2014 6 30 2013 12 31 41,469,960 36,494,651 62,602,384 57,208,333 1 18 19,435,217 15,935,463 19 8,619,872 8,558,184 733,417 703,714 36,453 28,824,959 25,197,361 33,777,425 32,010,972 20 208,683 208,656 22,173,256 22,654,206 2,084,472 22,381,939 24,947,334 21 3,014,681 8,380,805 7,063,638 33,777,425 32,010,972 34 62 2014 8 22
37 2014 6 30 2013 1 1 207,422 8,395,764 (410,856) 449,470 267,863 2,084,472 10,148,028 21,142,163 6,345,912 27,488,075 1,854,924 1,854,924 601,012 2,455,936 (1,077,319) (1,077,319) (1,077,319) (320,000) (320,000) 431,827 (431,827) 927 107,314 (41,319) 66,922 66,922 60,919 60,919 (38,419) 22,500 24 814 814 192,250 192,250 2013 6 30 208,349 8,503,078 (349,937) 881,297 226,544 2,084,472 10,493,806 22,047,609 6,781,569 28,829,178 2014 1 1 208,656 8,530,329 (316,680) 1,314,590 217,778 2,084,472 12,908,189 24,947,334 7,063,638 32,010,972 613,174 613,174 378,713 991,887 8 (928,301) (928,301) (928,301) (21,219) (21,219) 3,014,681 3,014,681 (2,151,149) (2,151,149) (2,151,149) 66,677 (66,677) (99,896) (99,896) (99,896) (6,125) (6,125) 368,156 (368,156) 27 1,096 (346) 777 777 (24,664) (24,664) 24 77,375 77,375 913,087 913,087 2014 6 30 208,683 8,531,425 (316,680) 1,682,746 217,432 12,058,333 22,381,939 3,014,681 8,380,805 33,777,425
38 2014 6 30 6 30 2014 2013 (4,975,383) 8,339 (907,790) (868,472) 2,662 656 (71) (371,378) 54,961 (27,897) (88,733) (204,856) 752,130 24 17,231 (6,443) 638,510 272,887 (7,242) (13,310) (248,254) (1,067,043) (221,758) (600,000) (69,600) 551,494 347,370 (848,949) (1,215,997) 6,926,766 7,312,206 (2,940,446) (10,829,234) (461,251) 2,121,652 (1,334,790) (1,009,816) (27,344) (320,000) 22,500 (2,151,149) (99,896) 913,087 192,250 20162018 6,891,379 3,014,681 777 66,922 682 22,202 3,841,117 4,470,061 (1,983,215) 3,262,403 1 1 10,686,041 6,163,632 (69) (16,636) 6 30 8,702,757 9,409,399 8,702,757 9,409,399
39 2014 6 30 1. 34 16 2. 2014 6 302013 12 31 2014 1 1 3. 6 30 2014 2013 11,805,098 9,595,940 163,636 130,467 119,024 100,677 59,157 52,580 319,038 283,685 13,392 22,507 80,900 28,139 12,560,245 10,213,995
40 / 2014 6 30 3. 2014 6 30 11,805,098 163,636 59,157 532,354 12,560,245 4,362 85 275,811 280,258 11,805,098 167,998 59,242 808,165 12,840,503 1,241,593 (37,184) (2,049) 13,073 1,215,433 (86,261) 6,949 (13,626) (86,302) (44,306) 991,887 2013 6 30 9,595,940 130,467 52,580 435,008 10,213,995 3,016 247 570,310 573,573 9,595,940 133,483 52,827 1,005,318 10,787,568 2,739,319 (29,674) (4,395) 9,476 2,714,726 (8,949) 10,994 (167,902) (32,950) (59,983) 2,455,936
41 / 2014 6 30 3. 2014 6 30 2013 12 31 118,529,367 111,780,398 5,951,524 5,067,566 1,877,246 1,853,416 2,663,600 1,900,384 129,021,737 120,601,764 1,952,156 1,733,938 130,973,893 122,335,702 2014 6 30 2013 12 31 91,175,476 85,710,438 307,140 261,676 975,035 1,003,689 3,138,466 2,793,658 95,596,117 89,769,461 1,600,351 555,269 97,196,468 90,324,730
42 / 2014 6 30 4. 6 30 2014 2013 545,047 328,654 17,734 1,034 600 64,344 35,328 30,378 645,753 377,366 5. 6 30 2014 2013 1,470,233 994,244 (1,197,151) (728,572) 273,082 265,672 6. 6 30 2014 2013 531,504 478,925 23,774 21,520 (149,637) (150,149) 405,641 350,296 71,297 74,183 (4,007) (4,529) 67,290 69,654 9,185,089 6,986,982 5,137 3,457
43 / 2014 6 30 7. 6 30 2014 2013 530,174 733,915 582,594 471,758 1,112,768 1,205,673 50,205 (41,742) 1,162,973 1,163,931 25% 25% 201325% 5% 10%10% 2014 6 30 582,594,000 2013 6 30 471,758,000 8. 2013 12 31 0.43 928,301,000 2014 7 18 2014 6 302013 6 30
44 / 2014 6 30 9. 6 30 2014 2013 613,174 1,854,924 (66,677) (116,819) (25,282) (91,404) 404,396 1,763,520 91,404 404,396 1,854,924 6 30 2014 2013 2,158,621,591 2,152,537,013 8,922,774 24,920,175 344,594,594 2,167,544,365 2,522,051,782 20142014
45 / 2014 6 30 10. 988,546,0002013 6 30 868,472,000912,667,0002013 6 30 816,281,000 26 11. 248,254,000 2014 5 30 147,370,000 50%35% 85% 24 12. 5,000,000 33,330,000 2014 1 22 50% 183,428,000 39.82% 50% 60.18% 13. 2014 6 302,229,220,0002013 12 31 2,139,387,000 12
46 / 2014 6 30 14. 2014 6 30 2013 12 31 19,064,051 18,096,461 16,541,662 17,025,985 3,718,829 3,845,128 39,324,542 38,967,574 25,889,914,0002013 12 31 22,865,603,00012 15. 2014 6 30 2013 12 31 525,718 411,777 3,943,752 3,041,088 1,228,635 927,691 5,698,105 4,380,556 90 2014 6 30 2013 12 31 30 185,298 146,659 31 90 98,260 62,526 91 180 8,953 19,550 181 365 64,703 49,080 365 168,504 133,962 525,718 411,777
47 / 2014 6 30 16. 2014 6 30 2013 12 31 11,163,825 10,514,844 7,631,062 7,256,485 70,000 139,600 18,864,887 17,910,929 2014 6 30 2013 12 31 30 5,193,284 5,682,270 31 90 1,177,897 850,113 91 180 1,426,977 1,050,500 181 365 2,287,528 1,637,541 365 1,078,139 1,294,420 11,163,825 10,514,844 17.
48 / 2014 6 30 18. 2014 6 30 2013 12 31 26 17,213,336 13,164,350 4,737,277 2,992,189 21,950,613 16,156,539 26 5,283,641 5,796,819 43,559 5,327,200 5,796,819 27,277,813 21,953,358 1 7,842,596 6,017,895 1 19,435,217 15,935,463 27,277,813 21,953,358 2014 6 30 2013 12 31 480,000 580,000 795,900 1,018,380 490,000 490,000 270,500 207,000
49 / 2014 6 30 19. 2013 2 4 100% 400,000,000 8.5% 394,626,000 2,480,617,000 2018 2 4 2013 3 26 102.5%300,000,000 308,515,000 1,934,851,000 2013 2014 1 1 4,265,827 39,638 182,491 (182,771) 4,305,185 2013 5 13 100%2,500,000,000 5.625% 2,475,911,000 2016 5 13 2013 2014 1 1 2,480,996 74,328 (70,313) 2,485,011
50 / 2014 6 30 19. 2013 9 24 100% 300,000,000 8.0% 296,947,000 1,826,138,0002019 3 24 2013 2014 1 1 1,811,361 16,908 75,211 (73,804) 1,829,676 2014 1 1 8,558,184 56,546 332,030 (326,888) 8,619,872 2013 12 312014 6 30
51 / 2014 6 30 20. 0.10 2013 1 1 2,143,175,190 214,317 11,463,500 1,146 2013 6 30 2,154,638,690 215,463 2014 1 1 2,158,500,690 215,850 339,000 34 2014 6 30 2,158,839,690 215,884 2013 12 31 208,656 2014 6 30 208,683 21. 2014 1 28 500,000,000 (i) 9%(ii) (A) (B) 7.373% 5%
52 / 2014 6 30 21. (i) (ii)75% 32 2012 8 2013 2014 2 20 99,896,000 22.
53 / 2014 6 30 22. 2014 6 30 2013 12 31 49,849 36,453 2014 6 30 2013 12 31 8,619,872 8,650,035 1 8,558,184 8,869,747 1 1
54 / 2014 6 30 23. 2014 1 1 60,057,500 9.30 (339,000) 2.89 2014 6 30 59,718,500 9.33 8.472013 6 3015.36 24. 2014 6 30 (i) 2014 2 27 70% 74,200 (ii) 2014 3 27 50% (ii) 2014 3 27 50% (iii) 2014 5 30 85% 147,370
55 / 2014 6 30 24. (i) 70% (ii) 50% (iii) 50% 35% 50% 2013 6 30 (i) 2013 3 5 52.85% 2,400 (ii) 2013 1 15 51% 104,090 (i) (ii) 51% 35% 51%
56 / 2014 6 30 24. 6 30 2014 2013 2,870 22 429 18,830 1,295,250 149,571 4,817,102 28,682 501 15 2,165 368,449 238,801 47 (109,628) (4,060,190) (468,904) (45,911) (3,129) (21) (1,724,681) 403,467 106,803 501 (77,375) (814) 326,092 106,490 (65,963) (i) (37,196) (ii) (1,363) 221,570 106,490 221,570 6,490 100,000 221,570 106,490 (221,570) (6,490) 238,801 47 17,231 (6,443)
57 / 2014 6 30 24. (i) (ii) 35%37,196,000 11,363,000 2014 5 28,697,000 28,697,000 77,375,000 2,219,919,000 3,372,000 3,604,000 9,893,000 148,339,000 2014 1 1 2014 6 30
58 / 2014 6 30 25. 2014 6 30 2013 12 31 14,735,865 14,038,730 94,543 25,855 14,830,408 14,064,585 2014 6 30 2013 12 31 1,938,968 2,136,249 26. 2014 6 30 2013 12 31 16,001 16,317 2,187,788 1,484,407 1,264,211 533,039 467,590 470,343 395,908 431,533 15,280,811 15,843,475 2,290,578 1,201,163 1,800,000 1,800,000 799,894 595,038 443,643 255,270 139,876 94,004 25,086,300 22,724,589
59 / 2014 6 30 27. (i) 2014 6 3015,278,889,000 2013 12 31 17,625,119,000 2014 6 30 2013 12 31 5,224,947 6,570,135 826,000 336,000 300,000 300,000 6,350,947 7,206,135 443,643 255,270 445,222 456,910 888,865 712,180 7,239,812 7,918,315 2014 6 30 2013 12 31 4,789,378 5,076,552 2014 6 30 2013 12 31 1,981,228 1,667,378
60 / 2014 6 30 27. (ii) 2011 12 29 SOHO (i)100% (ii) 100% 2012 1 9 10% 40% 50% 100% 2012115,330,000 2012 5 30 2012 6 4 2012 11 292013 4 24 1. 2011 12 29 100% 2. 2011 12 29 100% 3. 2012 1 12100% 4. SOHO
61 / 2014 6 30 28. (i) 2014 6 30 6 30 2014 2013 98,191 2,328 6,148 1,968 15,670 12 1,818 1,693 235 1,268 2,170 220 676 4,081 3,760 64 500 2,039 4,165 47,891 29,291 271,283 262,135 80,798 41,129 10,263 7,445 980 35,687 28,954 17,369 132,629 17,549 35,000 35,000 6,300 8,224 181,383 116,753 135 3,363 1,691 1,512 4,766 488 883 86 474 109 161 293 460 1,919 51 7,604 1,051 1,683 1,621 2,943 677
62 / 2014 6 30 28. (i) 2014 6 30 6 30 2014 2013 80,464 22,986 34,290 3,173 32 411 219 4 2,200 1,872 (ii) 2014 6 3024 6 30 2014 2013 20,000 160,520 22,500 (iii) 2014 6 30 6 30 2014 2013 9,657 7,024 153 152 9,810 7,176
63 2014 6 30 571 2006 6 22 01918
64 / 00004
GREENTOWN CHINA HOLDINGS LIMITED 綠城中國控股有限公司 HANGZHOU HEADQUARTERS 10/F, Block A, Century Plaza, No.1 Hangda Road, Hangzhou, Zhejiang, PRC (Postcode: 310007) Tel: (86-571) 8898 8888 Fax: (86-571) 8790 1717 杭州總部 中國浙江省杭州市杭大路1號, 黃龍世紀廣場A座10樓 (郵編: 310007) 電話: (86-571) 8898 8888 傳真: (86-571) 8790 1717 HONG KONG OFFICE Rm 1406-1408, New World Tower 1, 16-18 Queen s Road Central, Hong Kong Tel: (852) 2523 3138 Fax: (852) 2523 6608 香港辦事處 香港中環皇后大道中16-18號, 新世界大廈1期14樓1406-1408室 電話: (852) 2523 3138 傳真: (852) 2523 6608 www.chinagreentown.com www.chinagreentown.com Design and Production by: ione Financial Press Limited Website: www.ione.com.hk 設計及制作: 卓智財經印刷有限公司 網址: www.ione.com.hk