2 3 12 16 30 38 40 41 42 44 46 49 159 163 164 1

2 3 12 16 30 38 40 41 42 44 46 49 159 163 164 1

Richard Howard Gorges David Michael Norman David Michael Norman David Michael Norman AFC Merchant Bank Floor 4 Willow House Cricket Square P O Box 2804 Grand Cayman KY1-1112 Cayman Islands 1 28 338 2 33 3301-04 00413 http://www.scchina.co 2

South China Holdings Company Limited 3,400,000,000 3,200,000,000151,700,000 180,500,000 7.8%16.0% 2.7 3.2 (i) OEM(ii)(iii) OEM 6.4% 3,200,000,0003,000,000,000 133.7% 92,500,00039,600,000 (i) OEM 2.1% 6.5%14% OEM2,800,000,00011% (Toys Industry Association) 2016 3

(ii) 17.8% 313,300,000 (iii) OEM OEM 80% 39.8% 180,200,000 74.6% 456,300,000 a51,200,000b 256,700,000 c29 99,200,000 560,000 250,000 154,200,000 256,700,000390,100,000 4

2.2 1641 16 41 41 9,200,0009,100,000 100,000 10.5% 17,600,000 96,600,000 23,900,00072,700,000 8,300,000 7,500,000 7,600,000 98,500,000 8.6%90,000,000 4.4% 4,800,000 1.430.1% 1.0 26.1% 1,700,000,000 5,800,000,000 5

39 Perennial Success Limited A Profit Runner Investments Limited BSouth China Assets Holdings Limited South China Land Limited Crystal Hub Limited ABElite Empire Investments Limited 100% ABigwin Investments Limited 100% BElite Empire Investments Limited Elite Empire Group Bigwin Investments Limited Bigwin Group A B885,700,000740,900,000Elite Empire Group Bigwin Group (i) A700,000,000(ii) 92,850,000 (iii)ab AB856,900,000 AB740,800,000 15,000,000 15,000,000 6

71,400,00074,000,000 46,700,00050,500,000 15,10016,100 1,163,000,000 1,046,000,000 40 39 OEM 7

170,000 390,000 250,000 560,000 298,000 8

500,000 9

10

11

66 XV 62 XV Richard Howard Gorges72Gorges Gorges XV 35 12

34 Corpus Christi College 66 Winning Management Company Limited 37 13

David Michael Norman59 NormanSouth China Holdings Limited * Norman Norman 68 66 Empresarial University * The Royal Institution of Chartered Surveyors * CEPA * 14

46 Monash University 58 South China Holdings Limited * 69 DSG International (Thailand) Public Company Limited Chartered Institute of Bankers, London * Certified Financial Planner * MBE * 15

South China (China) LimitedSouth China Holdings Company Limited 311 40 162 163 39 40 1,042,123,131 0.8833,700,000 Elite Empire Investments LimitedElite EmpireBigwin Investments LimitedBigwin Elite Empire Bigwin 16

2,735,802,127 1,042,123,131 1,693,678,996 5,428,414,512 2,084,246,262 57,300,000 100,440,000 (i) (ii) (iii) 5% 25% 30% (a) (b) 39 17

19.9% 60.9% 8.1% 23.6% 5% Richard Howard Gorges David Michael Norman 18

116 99 3.13 1215 19

571 XV 352 a 371,413,834 107,000,000 3,159,912,992 3,638,326,826 60.87% b c 40,000,000 40,000,000 0.67% 326,688,000 326,688,000 5.47% 136,560,000 d 136,560,000 2.28% 5,040,000 e 5,040,000 0.08% 136,560,000 136,560,000 2.28% f 30 30% 20

(a) (b) (c) 3,159,912,992Fung Shing Group LimitedFung Shing 979,732,836 Parkfield Holdings LimitedParkfield931,867,420 620,038,762 Bannock Investment LimitedBannock587,031,298 Ronastar Investments Limited Ronastar41,226,67616,000 Fung Shing Parkfield RonastarBannock60% Richard Howard Gorges Gorges 20% 20% 26.94% 16,000 Bannock 1,207,070,060 (d) 136,560,000 (e) 5,040,000 432,000432,0001,040,000 3,136,000 (f) 70% 352 40 21

40,250,00029,886,368 2,250,000 67,886,368 68,800,000 a a b 26,000,000 52,000,000 0.75 c 26,000,000 52,000,000 0.75 39,200,000 (600,000) 77,200,000 0.75 91,200,000 (600,000) 181,200,000 d 40,250,000 (2,250,000) 76,000,000 0.65 e 29,886,368 29,886,368 29,886,368 0.65 20/10/2015 20/10/2017 19/10/2025 22

(a) (b) 0.87% (c) 0.87% (d) 0.65 (e) 0.52 158,486,368 90,600,000 67,886,368 204,700,000 60,000,000 39 2.4(x)(i) 46 23

5% 620,038,762 587,031,298 1,207,070,060 20.19% a Bannock 587,031,298 a 587,031,298 9.82% Parkfield 931,867,420 931,867,420 15.59% Fung Shing 979,732,836 979,732,836 16.39% 107,000,000 3,531,326,826 b 3,638,326,826 60.87% Bannock 1,207,070,060Bannock587,031,298 107,000,000 371,413,8343,159,912,992 336 24

Gorges Gorges 20.03% 13.51B(1) 13.51(2) (a) (e) (g) Gorges 200,00010,000 200,000210,000 25

14A (i)crystal Hub LimitedCrystal HubPerennial Success Limited AProfit Runner Investments Limited B Crystal HubABElite Empire Bigwin AB Crystal Hub Elite Empire Bigwin (ii) Crystal HubAB Crystal HubABElite Empire Bigwin 26

(i) Crystal HubA700,000,000(ii) 92,850,000 (iii)ab Crystal Hub Elite Empire BigwinAB 856,900,000 Crystal Hub AB A B740,800,000 64.92% (1) Crystal Hub Elite Empire Bigwin 100,000,000 15,000,000 0.1% 15,000,000 7,000,000 27

(2) Copthorne Holdings Corp.Copthorne Jessicacode Management LimitedJessicacode C30,123.50 (3) A 129,504 (4) A126,096 (5) Copthorne A, B D A, B, C DBA, B, AB 215,505 (6) CopthorneJessicacode C27,385 (1) (2) (3) 28

3000 740 14A.56 14246 29

E.1.2 3.28 Richard Howard Gorges David Michael Norman 12 15 30

3.10A 31

3/4 3/4 Richard Howard Gorges 4/4 3/4 4/4 4/4 David Michael Norman 2/4 4/4 4/4 4/4 4/4 4/4 2/2 32

3839 3,174,000406,000 33

Richard Howard Gorges David Michael Norman David Michael Norman 34

5/5 4/5 5/5 5/5 David Michael Norman 3/5 David Michael Norman 35

1/1 1/1 1/1 1/1 David Michael Norman 1/1 36

21 Richard Howard Gorges David Michael Norman 37

South China Holdings Company Limited South China (China) Limited * 40162South China Holdings Company Limited 38

* 39

4 & 5 3,406,501 3,159,789 (2,902,444) (2,775,914) 504,057 383,875 5 27,323 138,650 390,089 133,348 3,642 (4,840) (2,749) (1,158) (73,395) (77,646) (505,901) (438,862) (7,514) (2,127) 335,552 131,240 7 (117,163) (94,298) 17 18,879 176,258 17 427 (22) 6 237,695 213,178 10 (86,040) (32,660) 151,655 180,518 156,749 189,780 (5,094) (9,262) 151,655 180,518 11 2.7 3.2 1.6 2.0 49162 40

151,655 180,518 315 2,602 (272) 60 2,662 (272) (188,528) (76,870) (519) (271) (186,385) (77,098) (34,730) 103,420 (7,179) 125,647 (27,551) (22,227) (34,730) 103,420 49162 41

12 198,941 225,507 13 6,598,018 6,498,488 14 85,814 98,019 15 127,907 131,922 17 15,985 16,281 18 89,981 98,458 19 74,018 71,417 20 18,623 18,851 21 3,041 3,171 15,638 15,638 7,227,966 7,177,752 22 341,995 363,604 23 1,044,074 24 380,506 416,047 25 802,163 136,013 26 50,476 46,696 27 1,011 28 56,650 41,236 28 104,277 110,765 29 695,228 41,690 27,766 30 486,422 319,898 3,308,253 2,158,264 31 904,000 821,000 4,212,253 2,979,264 32 346,840 373,144 33 594,004 468,017 34 1,959,204 2,038,507 27 55,714 3,588 35 932 937 51,744 44,557 3,008,438 2,928,750 1,203,815 50,514 8,431,781 7,228,266 42

34 1,740,880 1,314,135 36 7,941 7,941 37 74,458 78,174 38 832,001 803,562 2,655,280 2,203,812 5,776,501 5,024,454 39 114,488 95,655 41(a) 5,304,746 4,548,369 5,419,234 4,644,024 357,267 380,430 5,776,501 5,024,454 Richard Howard Gorges 43 49162

# 59,773 27,059 750,842 508,172 223 (1,603,030) 68,040 54,096 10,965 (25,115) 52,092 (3,067) 378,277 3,901,724 4,180,051 483,756 4,663,807 189,780 189,780 (9,262) 180,518 12 315 315 315 19 (272) (272) (272) (63,905) (63,905) (12,965) (76,870) (271) (271) (271) 315 (272) (64,176) 189,780 125,647 (22,227) 103,420 39 & 41 8,823 291,177 300,000 300,000 50 37,520 37,520 (81,099) (43,579) 39 (429) (429) (429) 39 1,101 (852) (249) (764) 764 1,235 1,235 1,235 59,773 35,882 1,042,019 508,172 223 (1,603,030) 68,355 53,824 10,965 (24,443) 51,711 (3,067) 314,101 4,129,539 4,644,024 380,430 5,024,454 44

# 59,773 35,882 1,042,019 508,172 223 (1,603,030) 68,355 53,824 10,965 (24,443) 51,711 (3,067) 314,179 4,138,662 4,653,225 380,430 5,033,655 16 41 2.2 (78) (9,123) (9,201) (9,201) 59,773 35,882 1,042,019 508,172 223 (1,603,030) 68,355 53,824 10,965 (24,443) 51,711 (3,067) 314,101 4,129,539 4,644,024 380,430 5,024,454 156,749 156,749 (5,094) 151,655 19 2,602 2,602 2,602 60 60 60 (166,071) (166,071) (22,457) (188,528) (519) (519) (519) 2,662 (166,590) 156,749 (7,179) (27,551) (34,730) 39 & 41 20,842 812,856 833,698 833,698 39 (2,009) (55,242) (57,251) (57,251) 4,388 4,388 39 1,943 (2,640) 697 (579) 579 5,942 5,942 5,942 59,773 54,715 1,799,633 508,172 223 (1,603,030) 68,355 56,486 10,965 (22,500) 54,434 (3,067) 147,511 4,287,564 5,419,234 357,267 5,776,501 # 45 49162

237,695 213,178 7 117,163 94,298 17 (18,879) (176,258) 5 (9,089) (108,434) 5 4,898 (128) (61) 5 (215) (9,875) 5 8,342 8,880 (390,089) (133,348) (3,642) 4,840 6 56,944 6,694 6 7,514 2,127 17 (427) 22 5 60 6 778 1,011 5 9,804 5 1,904 275 6 (1,610) 57 5 (15) (13,587) 6 16,993 13,593 15 644 5 7,492 (459) 6 47,824 52,239 6 47,509 49,365 2,817 27,235 (96,143) 34,050 (145,353) 14,222 1,251 (22,723) 21,978 74,330 57,276 16 (474) 122,009 (7,500) (15,212) (13,123) (12,287) (7,865) 94,510 (28,488) 46

12 (28,439) (33,839) 13(a)&(b) (2,581) (39,264) 14 (31,148) (65,010) 15 (1,802) (5,186) 18 (553) (882) (4,706) (11,897) (8) (22) 4,317 4,423 4,673 34,150 2,243 2,371 (3,807) 10,498 1,663 810 51 (87,334) (4,553) 35,265 (32,765) (433,746) (291,217) 19,091 74,666 459 (92,667) (791,463) 47

2,200,540 2,314,912 (1,798,243) (1,268,401) (106,931) (29,698) (13,972) (132,812) (109,248) 30 408 (8,373) 39 (57,251) (35) (32,447) 50 (43,579) 39 (429) 182,909 731,532 184,752 (88,419) 259,095 349,968 (3,937) (2,454) 439,910 259,095 30 486,422 319,898 30 (27,318) (27,726) 34 (19,194) (33,077) 439,910 259,095 49162 48

1 Floor 4, Willow House, Cricket Square, P O Box 2804, Grand Cayman KY1-1112, Cayman Islands 2.1 2.2 49

2.1 2.4(i) 3 50

2.2 19 1641 1641 16 41 16 41 2.4(g) 412.4(j) 51

2.2 16 41 (8,489) * 8,489 (18,656) * 11,164 (7,492) 144,868 1,274 146,142 117,723 20,927 138,650 (408,812) (30,050) (438,862) 189,641 (9,123) 180,518 198,903 (9,123) 189,780 (76,792) (78) (76,870) 134,848 (9,201) 125,647 3.4 ** (0.2 ) 3.2 2.2 ** (0.2 ) 2.0 * ** 11 39(a) 52

2.2 16 41 107,659 (9,201) 98,458 4,557,570 (9,201) 4,548,369 4,653,225 (9,201) 4,644,024 16 41 (17,699) (10,789) (28,488) (802,252) 10,789 (791,463) 53

2.3 1028 11 1 1638 15 9 2.4 (a) 54

2.4 (a) 2.4(o) 2.4(l) 2.4(b) 2.4(e) 2.4(i) (b) 2.4(n) 2.4(i) 55

2.4 (c) 2.4(u) 2.4(u) 56

2.4 (d) 57

2.4 (e) (f) (a) (i) (ii) (iii) 58

2.4 (f) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) (viii) (g) 59

2.4 (g) 1680A 2% 5% 20% 10% 25% 20% 25% 20% 25% 2% 5% 60

2.4 (h) (i) 61

2.4 (j) 2 (k) 62

2.4 (l) (i) (ii) 39 (iii) 63

2.4 (l) (iv) (a) (b) 64

2.4 (m) (a) (b) (n) (i) 65

2.4 (n) (i) (ii) (iii) 66

2.4 (n) (iii) (iv) 2.4(b) 2.4(e) 2.4(e) (v) 34 2.4(n) 67

2.4 (o) (i) (ii) (iii) (i) (ii) 68

2.4 (p) (q) (r) (s) (i) 69

2.4 (s) (ii) 2.4(y) (t) 70

2.4 (u) (v) 71

2.4 (v) (w) (a) (b) (c) 72

2.4 (w) (d) (e) (x) (i) 73

2.4 (x) (ii) 40 74

2.4 (x) (ii) 75

2.4 (y) (z) (aa) 76

2.4 (aa) (bb) (cc) 2.4(o)(ii) 77

3 (i) 13 31 (ii) (iii) 24 78

3 (iv) 60,000 74,018,00071,417,00019 (v) (vi) 4 (a) (b) (c) (d) 79

4 (a) 3,208,626 3,014,883 180,247 128,955 17,628 15,951 3,406,501 3,159,789 92,486 39,568 456,315 261,365 (72,711) (96,564) (140,538) (73,129) 335,552 131,240 79 1,471 18,000 174,787 800 18,879 176,258 (8) (22) 435 427 (22) (117,163) (94,298) 237,695 213,178 80

4 (a) 1,534,850 1,414,605 9,471,985 8,265,389 189,000 216,660 186,709 216,315 11,382,544 10,112,969 12,102 12,398 3,883 3,883 15,985 16,281 41,690 27,766 11,440,219 10,157,016 2,232,099 1,628,397 2,494,181 2,501,243 20,199 16,552 33,494 138,251 4,779,973 4,284,443 51,744 44,557 832,001 803,562 5,663,718 5,132,562 24,353 29,934 99,894 77,138 34,029 69,968 340 351 158,616 177,391 36,207 40,339 5,280 4,068 53,662 57,039 184 158 95,333 101,604 6 16,993 13,593 16,993 13,593 6 & 24 598 1,011 180 778 1,011 6 28 (1,610) 29 (1,610) 57 5 7,492 7,492 5 9,804 9,804 5 & 12 1,904 275 1,904 275 81

4 (b) (i) 406,159 359,798 1,706,498 1,731,995 668,745 557,490 26,665 32,071 598,434 478,435 3,406,501 3,159,789 (ii) 2,041,809 1,874,063 5,091,360 5,209,681 4,794 6,310 7,137,963 7,090,054 (iii) 10% 679,000,0001,025,000,000 447,000,000 517,000,000 425,000,000 82

5 3,208,626 3,014,883 180,247 128,955 17,628 15,951 3,406,501 3,159,789 321 518 46 8,658 107,901 110 15 21,774 31,421 30,863 139,855 15 13,587 (9,804) (4,898) 128 215 9,875 (8,342) (60) 12 (1,904) (275) (7,492) 3,092 1,118 (3,540) (1,205) 27,323 138,650 83

6 2,885,451 2,762,321 12 18 47,824 52,239 14 47,509 49,365 3,174 2,794 406 6 3,580 2,800 8 * 80,317 70,636 7,514 2,127 1,074,733 972,888 1,162,564 1,045,651 (68) (6,070) 1,156,426 1,045,651 52,702 53,392 (180,247) (128,955) 26,738 21,803 (153,509) (107,152) 24 778 1,011 ** 22 16,993 13,593 (1,610) 57 *** 27 56,944 6,694 19,264 11,921 * ** *** 54,194,0005,536,000 84

7 129,976 107,426 46 983 18,099 129,976 126,508 (12,813) (24,838) (7,372) 117,163 94,298 4.07%3.18% 8 383(1) 1,073 854 11,520 7,508 200 189 450 238 963 937 13,133 8,872 14,206 9,726 39 85

8 (a) 100 75 100 75 100 75 280 280 120 120 73 120 773 745 (b) 10 1,920 192 2,122 10 3,000 150 3,160 Richard Howard Gorges 10 1,800 90 1,900 10 2,400 18 2,428 10 2,400 200 963 3,573 50 11,520 200 450 963 13,183 100 100 David Michael Norman 150 150 250 250 300 11,520 200 450 963 13,433 86

8 (b) 10 470 24 504 10 2,040 120 2,170 Richard Howard Gorges 10 1,200 60 1,270 10 1,530 17 1,557 10 2,268 189 17 937 3,421 50 7,508 189 238 937 8,922 50 50 David Michael Norman 9 9 59 59 109 7,508 189 238 937 8,981 87

9 8 2,952 4,329 1,200 520 32 1 479 4,153 5,360 1,500,0012,000,000 1 3,500,0014,000,000 1 4,000,0014,500,000 1 1 2 88

10 16.5%16.5% 7,288 10,651 (1,923) 14,424 13,485 19 38 64,328 10,428 86,040 32,660 237,695 213,178 16.5%16.5% 39,220 35,174 9,661 (4,678) (3,115) (29,208) 68,089 65,061 (51,624) (53,637) (1,904) (1,223) (3,863) 24,203 25,046 829 669 86,040 32,660 89

11 156,749,000 189,780,000 5,897,771,0005,894,854,000 39(a) 156,749 189,780 5,897,771 5,894,854 3,893,588 3,348,914 79,503 82,420 9,870,862 9,326,188 90

12 226,980 304,584 313,627 21,037 30,676 896,904 (2,375) (1,406) (3,269) (173) (474) (7,697) 1,589 13,712 9,972 687 2,482 28,442 51 190 1,780 1,970 (6,749) (19,724) (1,898) (28,371) 15 804 804 13 (19,133) (19,133) 207,865 310,331 300,606 21,551 32,566 872,919 160,356 310,331 300,606 21,551 32,566 825,410 31,112 31,112 5,220 5,220 204 204 10,973 10,973 207,865 310,331 300,606 21,551 32,566 872,919 121,268 252,923 252,747 18,220 26,239 671,397 (1,196) (678) (2,008) (68) (495) (4,445) 6 7,085 17,136 15,263 1,926 1,606 43,016 (6,734) (13,231) (1,845) (21,810) 13 (16,084) (16,084) 5 1,904 1,904 112,977 262,647 252,771 20,078 25,505 673,978 94,888 47,684 47,835 1,473 7,061 198,941 91

12 237,172 288,538 307,585 19,122 30,539 882,956 (2,013) (585) (1,804) (23) (199) (4,624) 74 17,104 12,856 1,938 1,867 33,839 (3) (473) (5,010) (1,531) (7,017) 13 (8,565) (8,565) 315 315 226,980 304,584 313,627 21,037 30,676 896,904 179,471 304,584 313,627 21,037 30,676 849,395 31,112 31,112 5,220 5,220 204 204 10,973 10,973 226,980 304,584 313,627 21,037 30,676 896,904 118,460 237,745 243,523 15,382 25,422 640,532 (1,255) (261) (1,184) (9) (199) (2,908) 6 10,649 15,900 15,188 2,847 2,110 46,694 (461) (4,780) (1,094) (6,335) 13 (6,861) (6,861) 5 275 275 121,268 252,923 252,747 18,220 26,239 671,397 105,712 51,661 60,880 2,817 4,437 225,507 92

12 1,904,000 16,752 17,604 12,873 13,250 29,625 30,854 65,263 74,858 94,888 105,712 34,623,000 36,651,000 1680A 76,268,00086,427,000 34 93

13 (a) 6,498,488 1,765,795 (211,007) (33,828) 12 3,049 1,704 31 473,160 3,138,677 2,581 6,422 (2,182) (16,905) 1,045,600 307,089 117,863 6,598,018 6,498,488 415,720 386,500 1,567,770 1,437,850 1,983,490 1,824,350 4,794 6,310 4,609,734 4,667,828 6,598,018 6,498,488 94

13 (b) 3,162,809 (70,450) 32,842 30,442 (16,966) (3,138,677) 6,598,018,000 6,498,488,000 44(a) 34 94,168,00092,160,000 37 1,246,266,0001,264,951,000 164 170 95

13 (c) 6,029,038 6,029,038 568,980 568,980 6,598,018 6,598,018 5,962,584 5,962,584 535,904 535,904 6,498,488 6,498,488 96

13 (c) 5,962,584 535,904 (202,914) (8,093) 12 3,049 2,581 (2,182) 265,920 41,169 6,029,038 568,980 4,515,340 413,264 (100,407) (3,871) 12 1,704 31 398,560 74,600 39,264 (16,905) 1,045,600 30,442 48,986 51,911 5,962,584 535,904 97

13 (c) 16181 14165 6.16.5 5.56 9365 8350 10,00059,200 11,00035,500 311 310 2.8% 3% 2.8% 3% 2.8% 3% 2.9% 3.1% 5.0% 12.5% 4.0% 12.5% 7.0% 8.0% 7.0% 8.0% 36,20042,800 29,00037,000 98

14 120,561 106,435 (3,282) (1,519) 31,148 65,010 6 (47,509) (49,365) 100,918 120,561 (15,104) (22,542) 85,814 98,019 34,662 34,923 66,256 85,638 100,918 120,561 15 131,922 127,770 (5,609) (2,802) 1,802 5,186 12 (804) (644) 1,240 1,768 127,907 131,922 34 99

16 34 159162 % % 20% 20% 14,078 925 341,233 349,198 33,916 28,836 70,388 4,626 (110,212) (53,469) (39,824) (48,843) 94,808 80,814 3,095,433 3,139,105 (231,392) (276,499) (561,700) (538,731) (31,022) (19,465) 10 (32,691) 27,567 55,350 (3,445) 3,194 100

16 80%20% 608,000,000152,000,000 557,447,000531,678,000 690,982,000 658,700,000 349,198,000341,233,000 17 15,550 16,281 57,869 57,861 # (57,434) (57,861) 435 15,985 16,281 # 101

17 57,869,00057,861,000 57,861 57,839 (427) 22 57,434 57,861 18,879 176,258 (519) (271) 18,360 175,987 19,091 1,933,266 15,550 16,281 102

18 19,757 16,568 16,957 32,399 17,486 103,167 (876) (735) (752) (1,437) (776) (4,576) 449 39 25 40 553 18,881 16,282 16,244 30,987 16,750 99,144 549 924 1,238 1,244 754 4,709 (41) (70) (92) (92) (59) (354) 6 541 935 1,222 1,226 884 4,808 1,049 1,789 2,368 2,378 1,579 9,163 17,832 14,493 13,876 28,609 15,171 89,981 20,207 16,450 17,266 44,622 25,417 123,962 (450) (366) (384) (935) (526) (2,661) 484 75 6 317 882 (11,294) (7,722) (19,016) 19,757 16,568 16,957 32,399 17,486 103,167 (3) (5) (6) (6) (4) (24) 6 552 929 1,244 1,679 1,141 5,545 (429) (383) (812) 549 924 1,238 1,244 754 4,709 19,208 15,644 15,719 31,155 16,732 98,458 103

18 209 215 518 322 205 213 219 197 1,688 2,069 2,839 3,016 19 73,994 71,392 24 25 74,018 71,417 2,602,000 272,000 34 104

20 21 34 3,171 3,219 (130) (48) 3,041 3,171 6,541 6,671 (3,500) (3,500) 3,041 3,171 3,067,0003,067,000 34 105

21 18% 12%3%3% 8% 12%4%4% 1,667 1,797 1,374 1,374 3,041 3,171 22 128,683 130,515 85,249 86,535 177,419 193,471 391,351 410,521 (49,356) (46,917) 341,995 363,604 106

22 46,917 39,986 (534) (297) 6 16,993 13,593 (14,020) (6,365) 49,356 46,917 34 23 (19,709) 51 956,067 96,143 11,573 1,044,074 1,044,074 1,044,074,000 170 107

24 445,153 480,536 (64,647) (64,489) 380,506 416,047 49 306,895 378,918 52,639 19,398 11,365 12,365 9,607 5,366 380,506 416,047 64,489 65,303 (416) (205) 6 778 1,011 (204) (1,620) 64,647 64,489 64,647,00064,489,000 64,647,00064,489,000 108

24 211,128 237,304 89,540 104,648 57,500 47,510 8,643 8,878 5,525 12,376 8,170 5,331 169,378 178,743 380,506 416,047 34 25 631,270,000 109

25 631,270,000 34 26 47,951 44,509 2,525 2,187 50,476 46,696 27 1,011 55,714 3,588 56,944,0006,694,000 110

28 34 75,500,00078,000,000 130,033,000110,765,000 29 Perennial Success Limited Crystal Hub Limited Elite Empire Investments Limited 40%600,000,000 Elite Empire Investments LimitedElite Empire 40% 8,800,000591,200,000 700,000,000 111

29 Elite Empire Investments LimitedElite Empire 500,000,000 60% (a) (b) (a) (a) (b) (i) (ii) Elite Empire Elite Empire Elite Empire Elite Empire 700,000,000 4,800,000104,000,000 700,000,000 Elite Empire Investments Limited 40% Elite Empire Investments Limited 51 112

30 72,931,000 88,708,000 27,318,000 27,726,000 34 31 821,000 449,069 (360) 13 (473,160) 83,000 32,451 813,000 904,000 821,000 904,000,000 821,000,000 44(a) 34 170 113

31 904,000 904,000 821,000 821,000 114

31 821,000 83,000 904,000 377,169 71,900 (360) 813,000 13 (398,560) (74,600) 29,751 2,700 821,000 46 55 45 54 2.8% 3.0% 2.8% 3.0% 115

31 904,000 821,000 32 346,840 373,144 224,973 269,151 53,636 49,358 13,923 8,081 54,308 46,554 346,840 373,144 33 116

34 (%) 4 5 8,275 15,207 5 10,919 17,870 2 5 144,504 66,006 2 7 1,477,411 1,591,631 2 318,095 347,793 1,959,204 2,038,507 5 2 7 572 5,499 1,740,308 1,308,636 1,740,880 1,314,135 3,700,084 3,352,642 1,959,204 2,038,507 500,271 1,249,717 1,238,158 55,809 2,451 8,609 3,700,084 3,352,642 117

118 34 (a) 3,546,733,0003,265,930,000 (i) 4,871,848,0004,787,674,000 13 (ii) 904,000,000821,000,000 31 (iii) 79,113,00099,979,000 12 (iv) 329,735,000311,207,000 22 (v) 27,318,00027,726,000 30 (vi) 30% 4,000,000 30%4,000,000 (b) 3,418,077,000(a)(i) 186,429,000 99,979,000 (a)(iii) 323,356,000 311,207,000(a)(iv) 1521 19 24 25 28 30 116,880,0001,374,0004,672,000347,990,000 49,455,00027,766,00040,470,000209,233,000 (c) 203,652,000229,215,000 23,250,000 717,000 1,376,000 7,750,000

35 36 37 73,521 76,915 937 1,259 74,458 78,174 76,915 79,149 (3,410) (1,760) 19 (3) (474) 73,521 76,915 94,168,000 92,160,000 119

38 9,439 807,187 (5,772) 810,854 10 55 10,268 105 10,428 (17,720) (17,720) 9,494 799,735 (5,667) 803,562 9,494 799,735 (5,667) 803,562 10 27,623 36,876 (171) 64,328 (9) (35,880) (35,889) 37,108 800,731 (5,838) 832,001 (i) 376,283,000325,629,000 (ii) 469,491,000421,697,000 10% 5% 10% 120

38 39 58,122,00047,012,000 (a) 12,000,000,000 0.01 5,000,000,000 0.02 i ii 120,000 100,000 3,000,000,000 0.02 2,000,000,000 0.02 ii 60,000 40,000 180,000 140,000 5,977,273,726 0.01 2,988,636,863 0.02 i 59,773 59,773 2,735,802,127 1,794,118,996 0.02 54,715 35,882 114,488 95,655 i) 0.020.01 ii) 2,000,000,000 0.011,000,000,0000.02 121

39 (a) 0.02 0.01 5,471,604,2543,588,237,992 (i) 5% (ii) 25% (iii) 30% (a) (b) 122

39 (a) 59,773 27,059 750,842 837,674 441,176,470 8,823 291,177 300,000 59,773 35,882 1,042,019 1,137,674 1,042,123,131 51 20,842 812,856 833,698 100,440,000 (2,009) (55,242) (57,251) 59,773 54,715 1,799,633 1,914,121 2,988,637 1,352,943 441,176 2,988,637 1,794,119 2,988,637 1,042,123 (100,440) 5,977,274 2,735,802 123

39 (b) 40 (c) 4,088,000 6,576,000 0.27 (464,000) 0.52 (696,000) 3,624,000 0.42 (6,320,000) 0.48 (1,792,000) 928,000 4,088,000 124

39 (c) 24,443 39,760,000 25,115 40,944,000 39,760,000 429 608,000 (1,943) (6,320,000) (1,101) (1,792,000) 22,500 73,200,000 24,443 39,760,000 40 6,320,000 1,792,0001,943,0001,101,000 0.51.5 125

40 (i) (a) (b) (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) 126

40 (i) (c) 10% (d) 1% 0.1% 5,000,000 (e) 127

40 (i) (f) (g) 1 (h) (i) (ii) (iii) (i) 1.5 91,200 1.5 91,500 0.75 (600) 1.5 (300) 0.75 90,600 1.5 91,200 0.75 90,600 1.5 91,200 17.03(13) 128

40 (i) (i) 1 2 8,666,666 8,666,666 18/09/2007 18/09/2008 17/09/2017 8,666,667 8,666,667 18/09/2007 18/09/2009 17/09/2017 8,666,667 8,666,667 18/09/2007 18/09/2010 17/09/2017 8,666,666 8,666,666 18/09/2007 18/09/2008 17/09/2017 8,666,667 8,666,667 18/09/2007 18/09/2009 17/09/2017 8,666,667 8,666,667 18/09/2007 18/09/2010 17/09/2017 17,333,332 0.75 17,333,334 0.75 17,333,334 0.75 17,333,332 0.75 17,333,334 0.75 17,333,334 0.75 52,000,000 52,000,000 104,000,000 1,333,333 1,333,333 18/09/2007 18/09/2008 17/09/2017 1,333,333 1,333,333 18/09/2007 18/09/2009 17/09/2017 1,333,334 1,333,334 18/09/2007 18/09/2010 17/09/2017 1,566,666 1,566,666 25/09/2007 25/09/2008 24/09/2017 1,566,666 1,566,666 25/09/2007 25/09/2009 24/09/2017 1,566,668 1,566,668 25/09/2007 25/09/2010 24/09/2017 2,666,666 0.75 2,666,666 0.75 2,666,668 0.75 3,133,332 0.75 3,133,332 0.75 3,133,336 0.75 8,700,000 8,700,000 17,400,000 9,866,665 9,866,665 18/09/2007 18/09/2008 17/09/2017 9,866,666 9,866,666 18/09/2007 18/09/2009 17/09/2017 9,866,669 9,866,669 18/09/2007 18/09/2010 17/09/2017 300,000 (200,000) 100,000 25/09/2007 25/09/2008 24/09/2017 300,000 (200,000) 100,000 25/09/2007 25/09/2009 24/09/2017 300,000 (200,000) 100,000 25/09/2007 25/09/2010 24/09/2017 19,733,330 0.75 19,733,332 0.75 19,733,338 0.75 200,000 0.75 200,000 0.75 200,000 0.75 30,500,000 (600,000) 29,900,000 59,800,000 91,200,000 (600,000) 90,600,000 181,200,000 129

40 (i) (i) (1) 33 1 / 3 66 2 / 3 100 (2) 600,000 300,000 90,600,000 181,200,000 135,900,000 (ii) (a) 130

40 (ii) (b) (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) 131

40 (ii) (c) 10% 597,727,372 298,863,686 491,841,004 298,863,6868.23% (d) 1% 0.1% 5,000,000 132

40 (ii) (e) (f) (g) 1 (h) (i) (ii) (iii) 133

40 (ii) (i) 1.3 40,250 0.65 29,886 0.65 (2,250) 0.65 67,886 17.03(13) 134

40 (ii) (i) 1 2 12,166,664 (500,000) 11,666,664 10/07/2015 10/07/2016 09/07/2025 12,166,666 (500,000) 11,666,666 10/07/2015 10/07/2017 09/07/2025 12,166,670 (500,000) 11,666,670 10/07/2015 10/07/2018 09/07/2025 8,965,000 8,965,000 20/10/2015 20/10/2017 19/10/2025 8,965,000 8,965,000 20/10/2015 20/10/2018 19/10/2025 11,956,368 11,956,368 20/10/2015 20/10/2019 19/10/2025 23,333,328 0.65 23,333,332 0.65 23,333,340 0.65 8,965,000 0.65 8,965,000 0.65 11,956,368 0.65 66,386,368 (1,500,000) 64,886,368 99,886,368 1,250,000 (250,000) 1,000,000 10/07/2015 10/07/2016 09/07/2025 1,250,000 (250,000) 1,000,000 10/07/2015 10/07/2017 09/07/2025 1,250,000 (250,000) 1,000,000 10/07/2015 10/07/2018 09/07/2025 2,000,000 0.65 2,000,000 0.65 2,000,000 0.65 3,750,000 (750,000) 3,000,000 6,000,000 70,136,368 (2,250,000) 67,886,368 105,886,368 (1) 33 1 / 3 66 2 / 3 100 (2) 67,886,368 105,886,368 68,826,000 135

40 (ii) (j) 0.18 0.29 0.52 0.65 0.65 67.03% 76.74% 1 4 0.49% 1.18% 41 (a) (b) 44 45 (i) 136

41 (b) (ii) (iii) (iv) 2.4(g) (v) 2.4(l) (vi) 137

41 (b) (vii) 3 (viii) 2.4(aa) (ix) 2.4(x) (c) 138

41 (d) # 750,842 223 (25,115) 52,092 22,393 800,435 59,657 59,657 291,177 291,177 (429) (429) 1,101 (852) (249) (764) 163 (601) 1,235 1,235 1,042,019 223 (24,443) 51,711 81,964 1,151,474 (78,331) (78,331) 812,856 812,856 (55,242) (55,242) 1,943 (2,640) 697 (579) 325 (254) 5,942 5,942 1,799,633 223 (22,500) 54,434 4,655 1,836,445 # 22 1,858,945,0001,175,917,000 139

42 15,000 13,526 15,000 13,526 7,000,000 43 34 44 (a) 13 31 164,534 136,627 212,067 178,226 29,072 46,459 405,673 361,312 140

44 (b) 53,242 38,272 58,242 58,130 66,376 74,999 177,860 171,401 45 61,114 63,949 2,099 1,819 11,171 11,690 74,384 77,458 49,347 51,881 141

46 (a) 7 (i) (983) # 5 ** (ii) 8,658 107,901 ** 5,712 5,931 * (3,715) (3,579) * (120) # * 14A ** 14A 14A (i) 1.15% (ii) 3,885,0003,889,000 29 4,773,000104,012,000 (b) 17 28 29 35 36 (c) 8 142

47 19 74,018 74,018 24 380,506 380,506 136,625 136,625 28 56,650 56,650 28 104,277 104,277 26 50,476 50,476 30 486,422 486,422 50,476 1,164,480 74,018 1,288,974 143

47 19 71,417 71,417 24 416,047 416,047 109,054 109,054 28 41,236 41,236 28 110,765 110,765 29 695,228 695,228 26 46,696 46,696 27 1,011 1,011 30 319,898 319,898 47,707 1,692,228 71,417 1,811,352 144

47 32 346,840 346,840 493,108 493,108 27 55,714 55,714 34 3,700,084 3,700,084 35 36 8,873 8,873 111 187 298 55,825 4,549,092 4,604,917 32 373,144 373,144 401,294 401,294 27 3,588 3,588 34 3,352,642 3,352,642 35 36 8,878 8,878 406 183 589 3,994 4,136,141 4,140,135 145

48 146

49 (a) 50 16,068 50 15,164 (b) (i) 147

49 (b) (i) 186,195 404,420 98,027 293,965 (379,951) (31,024) (371,811) (37,062) (193,756) 373,396 (273,784) 256,903 1,173,901 1,212,648 980,145 373,396 938,864 256,903 148

49 (b) (ii) 5% 49,007 5% 46,943 (5)% (49,007) (5)% (46,943) 149

49 (c) 42 54.7% 59% (d) 150

49 (d) 346,840 346,840 493,108 493,108 2,047,281 1,826,911 2,546 3,876,738 55,714 55,714 932 7,941 8,873 298 298 2,943,875 1,835,150 2,546 4,781,571 373,144 373,144 401,294 401,294 2,104,260 1,334,728 8,857 3,447,845 3,588 3,588 937 7,941 8,878 589 589 2,883,223 1,343,258 8,857 4,235,338 151

49 (e) 10% 47,951 4,795 2,525 252 44,509 4,451 2,187 219 152

49 (f) 50% 1,740,880 1,314,135 5,776,501 5,024,454 30.1% 26.1% 153

50 34,900,000 13% 15% 15% 39,668 3,202 709 43,579 (65,143) (1,630) (14,326) (81,099) (25,475) 1,572 (13,617) (37,520) 51 Elite Empire Investments LimitedElite EmpireA Bigwin Investments LimitedBigwinB Perennial Success LimitedPSLProfit Runner Investments LimitedPRIL CHL PSL PRIL AB 100% CHLABAB 154

51 Elite Empire Investments LimitedElite EmpireA Bigwin Investments LimitedBigwinB (a) A 1,970 956,067 540,946 17,741 5,246 (46) (57,171) 1,464,753 29 700,000 696,986 92,850 CHL (25,083) 1,464,753 (92,850) 5,246 (87,604) 155

51 Elite Empire Investments LimitedElite EmpireA Bigwin Investments LimitedBigwinB (b) B 132,748 270 133,018 136,712 * CHL (3,694) 133,018 * 270 270 * 1 156

52 4,862,638 4,149,875 7,471 2,777 34,399 34,533 1,011 28,061 23,328 69,931 61,649 9,705 12,540 1,586 272,159 853,671 283,450 866,211 (213,519) (804,562) 4,649,119 3,345,313 1,351,075 754,450 1,347,000 1,343,328 111 406 2,698,186 2,098,184 1,950,933 1,247,129 39 114,488 95,655 41(d) 1,836,445 1,151,474 1,950,933 1,247,129 157

53 2.216 41 54 15 158

Autowill Limited 1 100% Beat Time Enterprises Limited 1 100% (d) 20,000,000 100% Copthorne Holdings Corp. 200 100% (d) (d) 1,000,000 100% 3,000,000 100% 2 100% (d) 64,500,000 100% (d) 7,500,000 100% (d) 8,250,000 100% (c) 1,030,000,000 80% (d) 77,550,000 100% (d) 53,426,450 100% (d) 18,940,000 100% (d) 48,093,733 100% 159

(d) (e) (d) (e) 1,425,400 100% 2,345,600 100% (d) 16,756,800 100% (d) 25,261,300 100% (d) (e) 29,035,500 100% (d) 1,000,000 100% (d) 2,000,000 100% (d) 2,100,000 100% (d) 2,100,000 100% (c) 5,000,000 80% South China Industries (BVI) Limited (a) 1,000 100% 500,000 100% South China Strategic (BVI) Limited 1 100% 308,593,789 100% South China Strategic Properties (BVI) Limited 1 100% 160

5,000,000 100% 2 100% 2 100% (d) 7,500,000 100% (d) 10,000,000 70% Thousand China Investments Limited 1 100% (c) (c) 20,516,500 80% 10,213,600 80% (c) 36,100,200 80% (d) 8,000,000 100% Wah Shing (BVI) Limited 1,000 100% 571,500 70% Wah Shing International Holdings Limited 54,432,000 100% 2 3,020,002 (b) 100% 161

(d) 5,000,000 100% Welbeck Holdings Limited 1 100% WTS International (BVI) Limited 1 100% (d) 6,000,000 100% (d) 1,000,000 100% (d) (d) 130,000,000 100% 130,000,000 100% (a) South China Industries (BVI) Limited (b) (c) (d) (e) 13% 15% 15%34,850,400 162

3,406,501 3,159,789 3,013,518 2,354,199 3,103,165 237,695 213,178 317,099 380,879 377,698 (86,040) (32,660) (33,481) (36,053) (51,519) 151,655 180,518 283,618 344,826 326,179 156,749 189,780 285,604 329,070 306,214 (5,094) (9,262) (1,986) 15,756 19,965 151,655 180,518 283,618 344,826 326,179 11,440,219 10,157,016 8,843,617 8,299,114 7,901,052 (5,663,718) (5,132,562) (4,179,810) (3,491,319) (3,262,378) (357,267) (380,430) (483,756) (835,087) (818,728) 5,419,234 4,644,024 4,180,051 3,972,708 3,819,946 1641 163

1 (a) 60 60 31 33 36 5 2 ABCD 3 ABCD 4 ABCD 6 AB 10 ABD 12 ABCD 13 BCD 7171819 31213212526 15 1 G 25 27 27A 12 30% 100% 100% 100% 100% 164

1 (a) 63 2 78 3 4 5 6 7 8 18 20 5 47 53 20 28 2 JL G20 G22 L3 L4 3 4 7 A B C 3 4 8 A B C 100% 100% 100% 100% 100% 165

1 (a) 3 4 9 B C 46 54 4 19 6 14 5 7 1 A B C D 10A 2 264 298 64 98 10 1022 100% 100% 100% 100% 100% 100% 166

1 (b) 28 2 32 36 855 166 64 4 100% 100% 100% 100% 100% 167

1 (b) 104160 262 160 2 292 100% 100% 100% 100% 100% 168

1 (b) 462 51 71 15 C 168 100% 100% 100% 100% 100% 100% 80% 169

1 (c) 303 24 1 100% 2 66 16 21 23 26 44,000 100% 3 19 170,000 100% 170