:

: 1146 2015

2 3 5 7 9 11 12 14 34 51 1 2015

2015 2 190 Elgin Avenue George Town Grand Cayman KY1-9005 Cayman Islands 1225 9 9 13 1303 www.cohl.hk 183 22

526.6 542.0 (2.8%) 384.1 389.7 (1.4%) 118.4 150.9 (21.5%) 95.7 101.6 (5.8%) 27.9 72.8 (61.7%) 2.78 2.95 (5.8%) 72.9% 71.9% +1.0 22.5% 27.8% (5.3) 18.0% 18.7% (0.7) 30.6% 42.7% (12.1) 2.4 2 43 40 +3 52 42 +10 518 430 +88 3 2015

1. 3,440,181,9673,445,450,000 2. 3. x180 4. x180 5. x180 2015 4

3434 34 2410 5 2015

34 1 22 2015 6

4 526,576 541,996 (142,440) (152,294) 384,136 389,702 4 11,737 14,873 (243,323) (210,452) (25,184) (28,935) (9,015) (14,316) 118,351 150,872 5 24,565 28,190 (6,806) (1,042) 351 (1,000) 6 136,461 177,020 7 (41,808) (75,499) 94,653 101,521 127 167 94,780 101,688 7 2015

95,710 101,560 (1,057) (39) 94,653 101,521 95,843 101,719 (1,063) (31) 94,780 101,688 9 2.78 2.95 8 2015 8

10 217,817 207,367 11 87,104 88,136 4,798 4,945 70,697 70,697 10 111,878 112,697 113,119 117,824 101,423 94,928 706,836 696,594 12 410,937 409,361 13 117,809 128,955 14 65,233 76,153 2,243 15 414,428 707,700 16 423,929 432,098 16 161,005 190,154 1,593,341 1,946,664 17 378,533 646,827 18 32,712 53,986 2,517 19 99,901 116,172 151,374 150,783 665,037 967,768 9 2015

928,304 978,896 1,635,140 1,675,490 5,802 38,438 1,629,338 1,637,052 20 280,661 280,661 (6,045) (3,669) 1,351,909 1,254,380 8 101,804 1,626,525 1,633,176 2,813 3,876 1,629,338 1,637,052 2015 10

20 22 21 280,661 (3,669) 543* 389,848* (186,036)* 50,523* 47,783* 4,413* 947,306* 101,804 1,633,176 3,876 1,637,052 95,710 95,710 (1,057) 94,653 133 133 (6) 127 133 95,710 95,843 (1,063) 94,780 259 (259) 1,686 1,686 1,686 (101,804) (101,804) (101,804) (2,376) (2,376) (2,376) 280,661 (6,045) 543* 389,848* (186,036)* 52,209* 48,042* 4,546* 1,042,757* 1,626,525 2,813 1,629,338 280,661 543* 389,848* (186,036)* 50,392* 47,507* (699)* 1,176,148* 326,318 2,084,682 2,388 2,087,070 101,560 101,560 (39) 101,521 159 159 8 167 159 101,560 101,719 (31) 101,688 5,205 5,205 5,205 2,183 2,183 (326,318) (326,318) (326,318) 280,661 543* 389,848* (186,036)* 55,597* 47,507* (540)* 1,277,708* 1,865,288 4,540 1,869,828 * 1,351,909,0001,254,380,000 11 2015

136,461 177,020 6 5,228 4,504 6 146 197 6 1,023 858 6 786 786 6 1,686 5,205 2 49 6 35,996 50,232 (351) 1,000 4,760 1,132 6 11,500 6,806 1,042 5 (24,565) (28,190) 167,978 225,335 (33,937) (55,006) 11,146 3,313 14,500 (497) (21,274) (216) (23,394) (17,411) (80,348) (82,750) (6,806) 27,864 72,768 2015 12

16 86 (8,580) (58,056) (3,775) (500) 59,060 876 445 20,109 18,900 293,272 (197,100) 2,427 307,620 (180,440) (2,376) 269,828 (268,294) (101,804) (326,318) (372,474) (56,490) (36,990) (164,162) (859) (1,058) 199,388 287,764 161,539 122,544 16 161,005 115,616 5,034 10,928 (4,500) (4,000) 161,539 122,544 13 2015

1. 22 3 190 Elgin Avenue, George Town, Grand Cayman KY1 9005, Cayman Islands 913 1303 CEC Outfitters Limited China Enterprise Capital Limited 2015 14

2. 34 19 15 2015

3. 8 8 10% 4. 2015 16

4. 526,576 541,996 * 10,423 14,112 # 350 139 612 433 54 50 298 139 11,737 14,873 * # 5. 876 445 23,689 27,745 24,565 28,190 17 2015

6. 106,444 102,062 10 5,228 4,504 146 197 5,374 4,701 48,110 42,704 26 1,686 5,205 6,275 5,842 56,071 53,751 * 11 1,023 858 * 10 786 786 ^ 11,500 # 35,996 50,232 1,973 1,684 * 2015 18

6. ^ # 7. 25% 46,456 66,018 (4,648) 9,481 41,808 75,499 19 2015

8. 101,804,000 9. 95,710,000 101,560,000 3,440,181,967 3,445,450,000 95,710 101,560 2015 20

9. 3,445,450,000 3,445,450,000 (5,268,033) 3,440,181,967 3,445,450,000 10. 207,367 112,697 15,704 (18) (5,228) (786) (8) (33) 217,817 111,878 128,243 125,418 88,785 (98) (9,585) (1,572) (11,500) 22 351 207,367 112,697 21 2015

10. 5,964,000 6,143,000 94,377,000 11. 89,805 77,812 13,885 (1,023) (1,892) 88,782 89,805 (1,678) (1,669) 87,104 88,136 35,730,000 36,105,000 2015 22

12. 13,290 15,855 9,600 9,307 388,047 384,199 410,937 409,361 13. 30 90 23 2015

13. 60 109,220 117,127 61 90 1,364 1,763 91 180 2,269 2,032 181 360 2,124 2,262 360 673 558 115,650 123,742 2,159 5,213 117,809 128,955 14. 29,810 31,066 35,423 45,087 65,233 76,153 1,800,000 2015 24

14. 15. 414,428 707,700 275,200,000 25 2015

16. 156,505 186,154 428,429 436,098 584,934 622,252 * (423,929) (432,098) 161,005 190,154 * 584,934,000525,732,000 2015 26

17. 378,533 646,827 480,000,000 401,564,000 1.80% 18. 30 16,861 36,517 31 90 12,465 11,315 91 180 919 395 181 360 1,988 809 360 382 32,615 49,036 97 4,950 32,712 53,986 30 45 60 27 2015

19. 54,440 67,150 34,456 32,396 5,304 6,856 5,701 9,770 99,901 116,172 20. 1,000,000,000,000 1,000,000,000,000 0.1 100,000,000 100,000,000 3,445,450,000 3,445,450,000 0.1 344,545 344,545 280,661 280,661 2015 28

21. 1.64 168,024,000 1.64 199,224,000 1,686,000 5,205,000 168,024,000 168,024,000 16,802,400 13,253,000258,756,960 204,100,000 168,024,000 4.88% 29 2015

21. 22. (a) (b) South Zone Holding Limited 3,036,504 2,376,000 3,392,000 2015 30

23. (a) 486 432 3,739 864 4,225 1,296 (b) 10,245 8,140 6,250 8,432 16,495 16,572 31 2015

24. 23(b) 6,307 14,134 6,307 14,134 25. 26. 1,460 1,340 1,991 2,218 1,686 5,205 72 82 5,209 8,845 2015 32

26. 14A 27. 28. 33 2015

GDP 257.0% 10.4%12.1%1.7 542.0 2.8% 526.6 101.6 5.8% 95.7 526.6 542.015.42.8% 367.0 8.22.2% 375.2 71.3%67.7% 670 3.8% 72.1 12.084.1 16.6% 2015 34

158.5 31.0127.5 19.6%24.2%29.3% (i) (ii) (iii) 16.5 7.423.9 44.8%4.5%3.0% (i) 5.9 11.4 (ii) 2.5 3.8 35 2015

375.2 71.3% 367.0 67.7% 127.5 24.2% 158.5 29.3% 23.9 4.5% 16.5 3.0% 526.6 100.0% 542.0 100.0% 26.2 12.738.948.5% 4.8%7.4% Jeep Spirit MCS 54.6 22.276.8 40.7% 10.1%14.6% 2015 36

487.7 92.6% 515.8 95.2% 38.9 7.4% 26.2 4.8% 526.6 100.0% 542.0 100.0% 152.3 9.9142.46.5% 50.2 14.236.0 389.7 5.6384.1 1.4% 14.9 3.211.7 21.5% 14.1 3.710.4 37 2015

210.5 32.8243.3 15.6% 107.61.0108.6 0.9% 37.3 44.3 5.86.3 4.511.3 Barbour MCS 28.9 3.725.212.8% 3.5 2015 38

9.0 4.2 4.8 24.6 28.2 12.8% 6.8 1.0 MCS0.5 1.0 Henry Cotton s 0.2 Henry Cotton s Henry Cotton s 177.0 40.5136.5 22.9% 39 2015

75.5 33.741.844.6% (i) 25.0 (ii) 66.0 19.5 46.529.5% 30.6%42.7% 101.5 6.894.76.7% 101.6 5.9 95.75.8% 518 430 43 40 52 42 88 75 2015 40

928.3 978.9 2.4 2.0 378.5 999.3 27.9 72.7 307.6 (180.4) (372.5) (56.5) (37.0) (164.2) (0.9) (1.1) 199.4 287.8 161.5 122.5 72.7 44.827.9(i) 168.0 225.3(ii) 140.1 152.6 41 2015

307.6 293.320.1 101.8 326.3268.3 423.9 803.9654.8 8.3 6.6 2015 42

47% 380.7 210.2 170.5 24% 193.1 181.5 11.6 19% 152.8 147.1 5.7 10% 77.3 77.3 100% 803.9 538.8 265.1 43 2015

670 559 Jeep 210 474 684 205 511 716 Spirit* 71 18 89 74 21 95 SBPRC 200 60 260 196 118 314 63 2 65 59 4 63 Barbour 11 1 12 6 6 LINCS 23 1 24 14 14 MCS 41 41 30 30 Zoo York 16 3 19 7 7 35 35 36 36 670 559 1,229 627 654 1,281 * 4771 Jeep lady 2015 44

642 611 119110 28 16 9 ManhattanMCS Barbour LINCS Zoo York 32 559 654 14.5% 45 2015

MCS MCS MCS MCS2 MCS MCS MCS MCS 2016 150 2015 46

LINCS LINCS BMW LINCS Barbour Barbour BarbourCEO Barbour 120 Zoo York ACTION TIME Zoo York Zoo York Zoo York 47 2015

MCS Henry Cotton sbarbour LINCSZoo York 55,000 B2C 2,965 56.153.8 17 7 168,024,000 0.1 2015 48

Henry Cotton s Marina Yachting O2O B2C 49 2015

12 2015 50

XV 352 (%) 1,000,000 20,328,000 21,328,000 0.62 9,028,000 20,328,000 29,356,000 0.85 452,000 8,328,000 8,780,000 0.25 600,000 14,400,000 15,000,000 0.44 1,000,000 1,000,000 0.03 1,000,000 1,000,000 0.03 1,000,000 1,000,000 0.03 352 51 2015

336 5% (%) China Enterprise Capital Limited (1) 1,786,656,000 51.86 CEC Menswear Limited (1) 1,786,656,000 51.86 (1) 1,786,656,000 51.86 Vinglory Holdings Limited (1) 1,786,656,000 51.86 CEC Outfitters Limited (1) 1,786,656,000 51.86 Managecorp Limited (2) 491,784,000 14.27 (2) 491,784,000 14.27 (2) 491,784,000 14.27 YM Investment Limited (3) 491,784,000 14.27 Orchid Asia IV Investment, Limited (3) 482,078,000 13.99 Orchid Asia IV Group, Limited (3) 482,078,000 13.99 Orchid Asia IV Group Management, Limited (3) 482,078,000 13.99 OAIV Holdings, L.P. (3) 482,078,000 13.99 Orchid Asia IV, L.P. (3) 482,078,000 13.99 KRAVIS Henry Roberts (4) 285,366,000 8.33 ROBERTS George R. (4) 285,366,000 8.33 KKR Management LLC (4) 285,366,000 8.33 KKR & Co. L.P. (4) 285,366,000 8.33 KKR Group Limited (4) 285,366,000 8.33 KKR Fund Holdings GP Limited (4) 285,366,000 8.33 KKR Group Holdings GP L.P. (4) 285,366,000 8.33 KKR Fund Holdings L.P. (4) 285,366,000 8.33 KKR China Growth Limited (4) 285,366,000 8.33 KKR SP Limited (4) 285,366,000 8.33 KKR Associates China Growth L.P. (4) 285,366,000 8.33 KKR China Growth Fund L.P. (4) 285,366,000 8.33 KKR China Apparel Limited (4) 285,366,000 8.33 2015 52

(1) 1,786,656,000 CEC Outfitters Limited 56.13% 43.87% CEC Menswear Limited CEC Menswear Vinglory Holdings Limited Vinglory CEC Menswear China Enterprise Capital Limited Vinglory1,786,656,000 (2) 491,784,000 YM Investment Limited Managecorp Limited Managecorp Limited (3) YM Investment Limited 491,784,000 (3.1) Orchid Asia IV, L.P.482,078,000 Orchid Asia IV L.P. OAIV Holdings, L.P.OAIV Holdings, L.P.Orchid Asia IV Group Management, Limited Orchid Asia IV Group Management, Limited Orchid Asia IV Group, LimitedOrchid Asia IV Group, LimitedOrchid Asia IV Investment, Limited Orchid Asia IV Investment, Limited 92.61% YM Investment Limited (3.2) Orchid Asia IV Co-Investment, Limited9,706,000 Orchid Asia IV Co-Investment Limited YM Investment Limited 53 2015

(4) 285,366,000 KKR China Apparel Limited 90% KKR China Growth Fund L.P. KKR Associates China Growth L.P. KKR Associates KKR China Growth Fund L.P. KKR SP Limited KKR Associates KKR China Growth Limited KKR Associates KKR China Growth Limited KKR Fund Holdings L.P. KKR Fund Holdings GP Limited KKP Fund Holdings L.P. KKR Group Holdings L.P. KKR Fund Holdings L.P. KKR Fund Holdings G.P. LimitedKKR Group Limited KKR Group Holdings L.P. KKR Group Limited KKR & Co. L.P.KKR Management LLC KKR & Co. L.P. KRAVIS Henry Roberts ROBERTS George R. KKR Management LLCKRAVIS Henry Roberts ROBERTS George R.KKR China Apparel Limited 285,366,000 336 7.78,154,000 2015 54

205,552,000 20 7 1 (1 4) 168,024,000 168,024,000 55 2015

4 4 3 3 12 (2) 10 19 (2) 17 63,384,000 63,384,000 3,000,000 3,000,000 132,840,000 (31,200,000) 101,640,000 199,224,000 (31,200,000) 168,024,000 2015 56

13.51B 57 2015

2015 58