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2015 SINO BIOPHARMACEUTICAL LIMITED : 1177

2 5 9 10 13 19 31 47 53 55 57 58 59 61 63 65 1

+ 130 2

GMP PVC GMP GMP GMP CN20110001 MSCI http://www.sinobiopharm.com GMP GMP 3

4 1.1 55.588% 75% 55 60% 55.6% 80.682% 60% 60% 60.898% 60.898% 60% 60% 60.898% 60% 51% 100% 60% 55.588% 51% 51% 51% 51% 51% 33% 46.7% 80.682% 33%

14,550,225 12,378,350 9,901,196 7,496,888 5,171,354 (3,249,697) (2,920,531) (2,228,351) (1,610,587) (1,170,199) 11,300,528 9,457,819 7,672,845 5,886,301 4,001,155 391,633 293,182 188,782 139,253 100,174 (5,897,286) (5,342,527) (4,413,986) (3,322,544) (2,267,047) (1,234,046) (824,966) (638,312) (669,960) (494,042) (1,362,387) (1,075,997) (908,321) (540,972) (577,592) (79,812) (43,096) (2,500) (9,650) (11,418) 325,254 336,792 238,002 240,179 199,576 3,443,884 2,801,207 2,136,510 1,722,607 950,806 (532,876) (440,153) (354,551) (305,135) (121,567) 2,911,008 2,361,054 1,781,959 1,417,472 829,239 1,778,692 1,513,205 1,036,764 890,758 462,801 1,132,316 847,849 745,195 526,714 366,438 2,911,008 2,361,054 1,781,959 1,417,472 829,239 16,482,618 14,163,941 9,968,867 7,701,178 6,208,864 (6,039,573) (5,345,645) (2,743,904) (1,916,482) (1,432,499) 10,443,045 8,818,296 7,224,963 5,784,696 4,776,365 (2,687,157) (2,207,654) (1,737,947) (1,202,720) (940,360) 5

1.2 16,000,000 14,000,000 12,000,000 30% 12,378,350 14,550,225 10,000,000 9,901,196 8,000,000 7,496,888* 6,000,000 5,171,354* 4,000,000 2,000,000 0 2011 2012 2013 2014 2015 1.3 3,200,000 2,911,008 2,400,000 37% 2,361,054 1,781,959 1,600,000 1,471,472 800,000 829,239 0 2011 2012 2013 2014 2015 * 6

1.4 3,500,000 3,120,771 2,800,000 2,100,000 1,400,000 700,000 0 1,924,995 1,692,511 1,748,307 1,669,334 1,638,961 1,366,942 1,353,688 1,611,098 962,925 1,069,271 778,596 850,659 781,253 754,706 749,166 710,000 562,675 698,114 634,209 423,045 545,527 616,985 496,654 365,908 416,565 657,060 416,837 546,497 295,934 314,006 387,411 501,027 252,428 285,081 378,021 220,896 252,329 189,021 66,698 2011 2012 2013 2014 2,339,472 2015 2,256,434 1,566,638 1,191,137 764,540 748,663 672,125 657,060 546,497 501,027 1.5 1.6 12,000,000 10,443,045 5,000,000 4,468,333 10,000,000 8,000,000 6,000,000 4,000,000 22% 4,776,365 5,784,696 7,224,963 8,818,296 4,000,000 3,000,000 2,000,000 11% 2,981,343 2,547,455* 1,792,470* 2,711,061 2,000,000 1,000,000 0 2011 2012 2013 2014 2015 0 2011 2012 2013 2014 2015 * 7

1.7 6.3% 9.4% 47.8% 10.1% 7.7% 6.2% 7.2% 1.7% 3.6% 1.8 600,000 500,000 479,226 400,000 300,000 200,000 100,000 133,271 126,147 114,379 107,341 0 A B C D E A B C D E 8

9 Red Herring 25

6.9% GMP 10

20 Johnson & Johnson Janssen Pharmaceuticals Inc.Janssen Janssen 2.53 16 1,455,023 17.5% 177,270177,869 20.0%17.5% 33.8333.95 13.1%10.9%271,106 11

PVC 12

694,802 47.8% 15,570 50,10316.1% 225,643 17.2% 65,706 312,07733.4% 322,039 18.1% 137,239 9.4% PVC 13

18,458 54,65013.5% 47,923 40.6% (DDS) GMP 156,664 147,388 10.1% 35,70725.9% 29,286 26.0%22,243 11.5% 13,327 60.5% 10,734137.6% 11,438 69.6% 142,177 8.0% DDS 119,114 23.7% 14

104,064 7.2% 74,866 7.2% 21,342 15.0% 91,407 6.3% 67,213 8.9% 23,041 90,607 6.2% 76,454 37.5% 52,851 3.6% 29,749 52.3% 14,731 25.9% 25,312 1.7% 18,391 9,314 0.6% 15

16 9,000 7,50631.2% 22583 23 2 361 41 18 14621 21 114 130,196 8.9% 205 197 7 1 59 48 8 3 44512 53 12 470

A.6.7 271,106 446,833 141,999 43,51930,606 128,860 53,372 5,208 1,648,262 1,416,394, 603,957 534,565 36.6% 37.7% 15,259 1,324,068,000 1,066,406,000 17

3.10 3.10(A) 2.58 3.05 1,907,845,112H 18

A.6.7 A. 19

20

21

A.2.1 (i) (ii) 22

3.13 3.13 A.4.3 A.6.5 3.28 3.29 15 23

(i)(ii)(iii) (iv) 8 24

25

26

2/2 0/1 4/4 2/2 4/4 2/2 4/4 2/2 3/3 0/2 3/3 0/2 3/3 1/2 1/1 4/4 1/2 1/1 1/1 4/4 4/4 1/1 1/2 4/4 4/4 0/2 3/3 3/3 1/1 1/2 3/3 1/1 2/2 1/1 0/1 1/1 4 4 1 2 27

23 500,000 1,000,001 500,000 1,000,000 1,500,000 1,500,000 1 5 7 10 23 B. 28

4,661 38 C. 29

58 41 09 http://www.sinobiopharm.com 30

1 57 146 1.51.5 1222,366,000 1.5 (a) (b) 183 22 183 22 10 18 31

14,550,225 12,378,350 9,901,196 7,496,888 5,171,354 (3,249,697) (2,920,531) (2,228,351) (1,610,587) (1,170,199) 11,300,528 9,457,819 7,672,845 5,886,301 4,001,155 391,633 293,182 188,782 139,253 100,174 (5,897,286) (5,342,527) (4,413,986) (3,322,544) (2,267,047) (1,234,046) (824,966) (638,312) (669,960) (494,042) (1,362,387) (1,075,997) (908,321) (540,972) (577,592) (79,812) (43,096) (2,500) (9,650) (11,418) 325,254 336,792 238,002 240,179 199,576 3,443,884 2,801,207 2,136,510 1,722,607 950,806 (532,876) (440,153) (354,551) (305,135) (121,567) 2,911,008 2,361,054 1,781,959 1,417,472 829,239 1,778,692 1,513,205 1,036,764 890,758 462,801 1,132,316 847,849 745,195 526,714 366,438 2,911,008 2,361,054 1,781,959 1,417,472 829,239 16,482,618 14,163,941 9,968,867 7,701,178 6,208,864 (6,039,573) (5,345,645) (2,743,904) (1,916,482) (1,432,499) 10,443,045 8,818,296 7,224,963 5,784,696 4,776,365 (2,687,157) (2,207,654) (1,737,947) (1,202,720) (940,360) 32

13 32 33 34 42 111,183,00074,122,000 2,810,495,0002,182,507,000 30% 30% 5% 33

86 87 47 52 34

38 571 XVXV7 8 352 (1) 135,000,000 1,080,626,722 1,215,626,722 16.40% 60,498,000 60,498,000 0.82% (1) Validated Profits Limited1,080,626,722 35

(1) 288,000,000 57.6% 7,560 0.1% 229,250 0.18% 26,583 0.53% (1) 1 XV78 352 36

XV23 336 Validated Profits Limited (1) 1,080,626,722 (L) 14.58% (2) 1,050,000,000 (L) 14.17% Remarkable Industries Limited (2) 750,000,000 (L) 10.11% JP Morgan Chase & Co. (3) 54,669,877 (L) 0.74% 336,000 (S) 0.00% 217,590,000 (L) 2.93% 176,990,715 (P) 2.39% (1) Validated Profits Limited (2) Remarkable Industries Limited (3) JP Morgan Chase & Co. (4) LSP XV23336 37

38 60% 35,500,000 44,900,000 60% 20,000,000 25,300,00030,000,00037,900,00050,000,00063,200,000 33.5% 63,300,000 80,000,00075,900,000 95,900,00090,900,000114,900,000 34,398,00037,158,000 12,900,00016,300,00015,300,000 19,300,00018,400,00023,300,000 14,356,00010,475,000 1,500,0001,900,0002,000,0002,500,000 2,500,000 3,200,0001,618,000 975,000 38

50% 3,600,0004,500,000 3,840,000 4,900,000 4,200,000 5,300,0004,489,0004,500,000 60% 33.5% 10,000,00012,600,000 386,0003,883,000 60% 4 900,0001,100,000 580,000 429,000 60% 4,500,0005,700,000 3,408,0003,477,000 14,200,00017,900,00015,800,000 20,000,00017,300,00021,900,000 12,872,0009,894,000 800,000 1,000,0001,200,0001,500,000 1,600,0002,000,000 39

4,000,0005,100,0005,000,0006,300,0006,000,0007,600,000 567,0001,174,000 40,000,000 50,500,00056,000,00070,800,000 78,400,00099,100,00019,007,000 22,501,000 2,000,0002,500,0003,000,0003,800,000 4,000,0005,100,000 2,657,000602,000 3,300,0004,200,0004,000,0005,100,0004,800,0006,100,000 802,000 3,448,000 10,000,000 12,600,00013,000,00016,400,000 16,900,00021,400,0003,316,000 1,427,000 10,000,000 12,600,00013,000,00016,400,00016,900,00021,400,000 40

156,000,000197,100,000202,800,000256,300,000 255,000,000322,200,000214,902,000 153,941,000 20,000,00025,300,00026,000,00032,900,000 33,800,00042,700,00021,512,000 11,523,000 9,600,000 12,100,000 11,600,000 14,700,000 15,000,00019,000,0004,086,000 3,950,000 2,000,0002,500,0002,600,000 3,300,0003,500,0004,400,000 2,909,0001,966,000 99% 1,200,000 1,440,0001,800,000 1,200,0001,200,000 32,300,00040,800,00036,500,00046,100,00039,600,000 50,000,000 32,493,00022,009,000 41

6,000,0007,600,0006,983,000 7,124,000 * (i) (ii) (iii) 13.18 13.18 165,000,000 165,000,000165,000,000 (i) (ii) 741,219,220 15% 42

13.18 1. 2. 30 25%,(i) 30%(ii) 50% 43

(i) (ii) (i) (ii) 20% (iii) (i) (ii) (iii) 44

15,259 A.6.7 3.10 3.10(A) 49 45

46

23 Golden Sword Ventures Limited 64 10 47

53 AOTS 46 48 GMP GMP 52 MBA 48

57 52 72 46 58 49

52 (ACCA)ACCA (IPMA-HR) 47MBA 49 GMP 59 46 50

44 45 45 46 51 52 46 EMBA 49 51

53 Institut National des Sciences Appliquees (INSA) de Toulouse Ecole Superieure de Commerce (ESC) de Toulouse 47 46 ESMOD(Ecole International de Mode Paris) 42 48 52

53 1177 www.sinobiopharm.com FCCA, CPA 166 1

43 Royal Bank of Canada Trust Company (Cayman) Limited 4th Floor, Royal Bank House 24 Shedden Road, George Town Grand Cayman KY1-1110 Cayman Islands 183 22 Codan Trust Company (Cayman) Limited Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 1 41 09 2 39 Conyers Dill & Pearman, Cayman Boundary Hall, 2nd Floor Cricket Square Hutchins Drive P.O. Box 2681 KY1-1111 Cayman Islands 1 C2308A 1 22 18 1 29 A 54

57 146 55

1 22 56

5 14,550,225 12,378,350 (3,249,697) (2,920,531) 11,300,528 9,457,819 5 391,633 293,182 (5,897,286) (5,342,527) (1,234,046) (824,966) (1,362,387) (1,075,997) 7 (79,812) (43,096) 19 325,254 336,792 6 3,443,884 2,801,207 10 (532,876) (440,153) 2,911,008 2,361,054 1,778,692 1,513,205 1,132,316 847,849 2,911,008 2,361,054 12 33.95 30.62 57

2,911,008 2,361,054 (9,052) 1,206 6 7,846 (341,327) (139,673) (342,533) (138,467) 30,056 49,714 (3,473) (11,002) 26,583 38,712 (114,352) (6,024) (87,769) 32,688 (430,302) (105,779) 2,480,706 2,255,275 1,470,504 1,443,682 1,010,202 811,593 2,480,706 2,255,275 58

13 2,656,187 2,340,180 14 496,489 15 529,735 16 333,884 339,351 17 110,709 110,850 18 198,907 162,233 19 1,258,323 1,361,421 20 368,351 425,563 21 224,989 31 214,966 107,927 24 154,347 1,135,890 6,546,887 5,983,415 22 950,148 901,625 23 1,866,408 1,889,661 24 1,527,610 373,186 38(c) 18,050 20 2,419,678 25 460,826 529,671 26 2,711,061 4,468,333 9,935,731 8,180,526 27 767,592 775,241 257,221 172,820 28 3,079,249 2,444,065 29 1,419,990 435,187 38(c) 33,959 5,524,052 3,861,272 4,411,679 4,319,254 10,958,566 10,302,669 59

10,958,566 10,302,669 30 141,638 119,050 29 306,062 1,288,597 31 67,821 76,726 515,521 1,484,373 10,443,045 8,818,296 32 185,305 123,536 34 7,570,583 6,487,106 7,755,888 6,610,642 2,687,157 2,207,654 10,443,045 8,818,296 60

32 34 11 123,536 1,285,444 (171,651) 228,429 20,743 647,107 306,083 2,948,496 98,829 5,487,016 1,737,947 7,224,963 1,513,205 1,513,205 847,849 2,361,054 1,206 1,206 1,206 23,834 23,834 14,878 38,712 1,473 1,473 1,473 (88,539) (88,539) (51,134) (139,673) (7,497) (7,497) (7,497) 25,307 1,206 (96,036) 1,513,205 1,443,682 811,593 2,255,275 84,926 84,926 7,646 7,646 249 249 1,080 1,329 (435,538) (435,538) (98,829) (98,829) (98,829) 11 (222,366) (222,366) (222,366) 11 (74,122) 74,122 276,747 (276,747) 890 890 890 123,536 1,285,444 (171,651) 253,736 1,206 20,743 924,744 210,296 3,888,466 74,122 6,610,642 2,207,654 8,818,296 61

32 34 11 123,536 1,285,444 (171,651) 253,736 1,206 20,743 924,744 210,296 3,888,466 74,122 6,610,642 2,207,654 8,818,296 1,778,692 1,778,692 1,132,316 2,911,008 (9,052) (9,052) (9,052) 7,846 7,846 7,846 12,796 12,796 13,787 26,583 (61,538) (61,538) (61,538) (205,426) (205,426) (135,901) (341,327) (52,814) (52,814) (52,814) (48,742) (1,206) (258,240) 1,778,692 1,470,504 1,010,202 2,480,706 43,693 43,693 (30,320) (30,320) (17,168) (47,488) (557,224) (557,224) (74,122) (74,122) (74,122) 32 61,769 (61,769) 11 (222,366) (222,366) (222,366) 11 (111,183) 111,183 420,128 (420,128) 1,550 1,550 1,550 185,305 1,223,675* (201,971)* 204,994* * 20,743* 1,346,422* (47,944)* 4,913,481 111,183 7,755,888 2,687,157 10,443,045 * 7,570,583,000 6,487,106,000 62

3,443,884 2,801,207 7 79,812 43,096 19 (325,254) (336,792) 5 (74,503) (113,593) 5 (18,798) 5 (194,595) 5 (12,848) (15,776) 13 317,902 248,164 6 27,852 (24) 6 23,849 6 7,345 6,078 6 11,559 11,326 5,6 134 1,753 5,6 (125) 5,6 (8,428) 6 15,699 6 7,846 5,6 (31,278) (35,677) 6 25,281 3,303,887 2,601,209 (48,523) (79,504) 23,253 (259,658) (1,154,405) (18,994) 100,123 (355,312) 18,050 (8,089) (7,649) 268,187 635,184 425,264 22,588 22,853 (33,959) 35,231 2,858,549 2,631,187 (567,892) (330,995) 2,290,657 2,300,192 63

2,290,657 2,300,192 74,503 113,593 194,595 12,848 15,776 425,094 88,469 (735,332) (446,962) (520,338) (529,735) (2,426,403) (282,816) (250,270) 9,024 7,989 1,124 56,091 (54,304) (28,555) (73,609) (126,793) (47,488) (17,437) (162,861) 981,543 (823,948) 1,120,921 (1,210,173) 13,440 (1,833,481) (2,788,533) 794,724 1,829,957 (792,456) (192,878) (296,488) (321,195) (79,812) (43,096) (557,224) (435,538) 43,693 7,646 (887,563) 844,896 (430,387) 356,555 3,167,230 2,890,413 (205,964) (79,738) 2,530,879 3,167,230 26 1,230,422 1,362,227 26 1,300,457 1,805,003 2,530,879 3,167,230 64

1. 1 4109 * 1,000,000 75 Champion First 2 100 Investments Limited 100 51 * 60 690,000,000 1 ** 60 10,000,000 65

1. 500,000 60 * 55.6 117,609,001 2 ** 5,000,000 60 ** 60 65,000,000 ** 60 50,000,000 2 100 2 100 1 100 1 100 66

1. * 55.588 48,960,000 ** 55.588 5,000,000 * 9,363,500 60.898 ** 60.898 20,000,000 ** 60.898 500,000 1 100 * 7,560,000 51 ** 51 1,250,000 67

1. ** 51 5,000,000 1 100 100 100 1 100 1 100 Ace Elite Investments Limited 10 100 * 80.682 3 52,800,000 *** 118,500,000 100 100 100 68

1. * 46.7 127,228,711 ** 60 100,000 ** 80.682 1,200,000 ** 33 30,000,000 ** 60 500,000,000 * 51 19,000,000 ** 51 500,000 ** 33 30,000,000 100 100 69

1. 4,224,819 55 4 * 55 500,000 * 38.5 7,000,000 * 38.5 5,000,000 * 55 17,373,261 ** 55 100,000 ** 33 15,101,000 ** 33 70

1. * 38.5 1,000,000 ** 55 3,000,000 ** 55 100,000 * 41.25 13,870,032 100 100 * 72,167,000 100 10 100 ** 55.6 ** 51 30,000 71

1. * 38.06125 72,000,000 5 Karolinska Development 1 100 (Asia) Limited KD Asia 6 Golden Sword 1 100 Ventures Limited Golden Sword 7 ** 43.35 1,000,000 8 1 200,000,000 490,000,000 690,000,000 2 75,811,149 5,050,000 117,609,001 3 17.282% 21.79%8,083,378 9,972,464 4 125,0004,224,819 2,662,000 5 38.06125% 6 KD Asia 100% 7 Golden Sword100% 8 43.35% 9 * ** *** 72

2.1 2.4 (i)(ii) (iii) (i)(ii) (iii) 73

2.2 19 622 2.3 9 2 10 4 28 10 1 12 28 11 1 14 3 15 2 1 1 16 38 1 16 41 1 27 1 1 1 2 3 4 9 39 9 74

2.3 1028 11 3 11 15 1515 15 15 15 15 1 (i) (ii) 1 (iii) (iv) 75

2.3 1638 ( 2.4 20% 5 76

2.4 77

2.4 78

2.4 (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (a)(i) (vii) 79

2.4 4%-5% 5%-20% 5%-9% 9%-18% 18% 80

2.4 20 81

2.4 30 82

2.4 39 39 83

2.4 (a)(b) 84

2.4 (a)(b) 85

2.4 86

2.4 87

2.4 88

2.4 (i)(ii) 89

2.4 (a) (b) (c) 90

2.4 91

2.4 622 92

2.4 3. 50% 46.7%50% 214,966,000 107,927,00031 93

3. 110,709,000 110,850,00017 2.4 117,056,00083,920,000 18 4. (a) (b) (c) (i) (ii) 94

4. 14,045,796 504,429 14,550,225 3,296,629 (47,442) 95,178 3,344,365 74,503 325,254 (300,238) 3,443,884 (532,876) 2,911,008 10,134,496 4,294,458 580,375 15,009,329 1,258,323 214,966 16,482,618 3,727,461 1,751,865 235,205 5,714,531 325,042 6,039,573 299,757 53,403 7,495 360,655 772,324 546,642 8,445 1,327,411 325 16 1 342 95

4. 11,951,420 426,930 12,378,350 2,482,034 26,136 111,630 2,619,800 113,593 336,792 (268,978) 2,801,207 (440,153) 2,361,054 8,676,147 3,515,351 503,095 12,694,593 1,361,421 107,927 14,163,941 3,501,846 1,418,194 176,059 5,096,099 249,546 5,345,645 253,547 6,291 5,730 265,568 584,248 17,428 36,702 638,378 1,962 4 45 2,011 90% 90% 10% 96

5. 14,550,225 12,378,350 74,503 113,593 18,798 12,848 15,776 194,595 23,349 * 29,767 52,373 2,024 8,271 14,481 19,341 29,122 360,147 248,694 208 258 125 8,428 31,278 35,677 31,486 44,488 391,633 293,182 * 97

6. 3,249,697 2,920,531 13 317,902 248,164 14 23,849 16 7,345 6,078 * 18 11,559 11,326 1,301,959 1,073,319 27,852 (24) 5 (208) (258) 5 (125) 342 2,011 5 (74,503) (113,593) 5 (12,848) (15,776) 5 (194,595) (23,349) 5 (8,428) 15,699 7,846 5 (31,278) (35,677) 25,281 25,518 33,660 4,699 4,879 8 1,108,851 904,335 215,217 162,071 1,324,068 1,066,406 23 319 (124) 87,711 30,840 * 98

7. 79,812 43,096 8. 383(1)(a) (b) (c) (f) 1,132 1,116 22,035 19,916 23,448 20,420 256 271 45,739 40,607 46,871 41,723 (a) 276 264 276 264 192 192 108 324 88 264 1,132 1,116 99

8. (b) 754 1,000 9 1,763 10,010 20,000 18 30,028 834 1,258 121 2,213 1,261 450 18 1,729 5,688 45 5,733 2,846 45 2,891 642 740 1,382 22,035 23,448 256 45,739 8,560 18,000 17 26,577 1,418 110 1,528 2,045 110 2,155 1,189 420 17 1,626 2,125 2,000 17 4,142 3,559 3,559 1,020 1,020 19,916 20,420 271 40,607 9. 8 100

10. 16.5%16.5% 590,724 409,468 31 (57,848) 30,685 532,876 440,153 15% 25% 3,117,723 326,161 3,443,884 779,431 53,817 833,248 (294,993) (294,993) (1,673) (109,340) (111,013) 39,022 76,846 115,868 (61,836) (61,836) 5% 51,602 51,602 459,951 72,925 532,876 101

10. 2,368,569 432,638 2,801,207 592,142 71,385 663,527 (190,326) (190,326) (1,204) (104,163) (105,367) 27,627 33,414 61,041 (67,574) (67,574) 5% 78,852 78,852 11. 360,665 79,488 440,153 44.5 222,366 222,366 1.51.5 111,183 74,122 333,549 296,488 12. 1,778,692,000 1,513,205,000 5,239,302,9864,941,461,473 102

13. 1,075,592 8,975 1,186,211 180,345 376,826 193,561 3,021,510 (8,481) (415,003) (83,861) (173,985) (681,330) 1,075,592 494 771,208 96,484 202,841 193,561 2,340,180 1,075,592 494 771,208 96,484 202,841 193,561 2,340,180 33,849 11 177,211 60,071 101,030 363,160 735,332 (79,690) (418) (132,042) (29,312) (76,440) (317,902) 2,204 2,204 (129) (2,142) (3,582) (647) (2,658) (9,158) 128,145 172,204 6,047 (306,396) (35,182) (9) (36,648) (4,824) (7,440) (10,366) (94,469) 1,124,789 78 949,791 118,837 225,391 237,301 2,656,187 1,124,789 8,941 1,465,718 181,503 456,800 237,301 3,475,052 (8,863) (515,927) (62,666) (231,409) (818,865) 1,124,789 78 949,791 118,837 225,391 237,301 2,656,187 103

13. 960,990 8,112 947,444 142,706 319,029 227,278 2,605,559 (8,007) (300,313) (69,330) (120,798) (498,448) 960,990 105 647,131 73,376 198,231 227,278 2,107,111 960,990 105 647,131 73,376 198,231 227,278 2,107,111 2,269 941 81,821 56,064 59,523 246,344 446,962 (67,335) (486) (93,512) (29,486) (57,345) (248,164) 35,654 3,432 3,961 43,047 49,738 49,738 (2,638) (60) (2,108) (3,306) (1,146) (484) (9,742) (255) (2) (26) (283) 149,981 119,551 4,690 (274,222) (17,413) (6) (17,074) (3,594) (5,047) (5,355) (48,489) 1,075,592 494 771,208 96,484 202,841 193,561 2,340,180 1,075,592 8,975 1,186,211 180,345 376,826 193,561 3,021,510 (8,481) (415,003) (83,861) (173,985) (681,330) 1,075,592 494 771,208 96,484 202,841 193,561 2,340,180 1,124,789,000 1,075,592,000 2,204,00049,738,000 48,742,000 25,307,00027,852,000 23,520 822,001,000770,526,000 32,228,00052,079,000 29 104

14. 520,338 520,338 23,849 23,849 496,489 504,000,000 36(a) 29 15. 529,735 529,735 105

16. 346,674 197,484 17,437 162,861 (999) (7,345) (6,078) (15,540) (6,594) 341,226 346,674 (7,342) (7,323) 17. 333,884 339,351 110,850 (141) 110,709 58,083 52,847 (80) 110,850 106

17. 43% 107

18. 37,178 107,669 63,317 208,164 10,163 44,141 54,304 (2,163) (6,370) (8,533) 45,178 145,440 63,317 253,935 20,055 23,749 2,127 45,931 3,422 5,973 2,164 11,559 (1,124) (1,338) (2,462) 22,353 28,384 4,291 55,028 22,825 117,056 59,026 198,907 41,276 82,952 124,228 1,454 27,101 28,555 253 64,919 65,172 (6,293) (6,293) 488 (2,384) (1,602) (3,498) 37,178 107,669 63,317 208,164 18,016 18,453 36,469 3,323 5,839 2,164 11,326 (793) (793) (491) (543) (37) (1,071) 20,055 23,749 2,127 45,931 17,123 83,920 61,190 162,233 108

19. (i) 946,806 1,141,657 (ii) 212,874 219,764 (iii) 98,643 1,258,323 1,361,421 21.82% 33.6% 500,000,000 109

19. (i) 906,917 1,101,768 39,889 39,889 946,806 1,141,657 1 (a)51% 33.6% 293,000,000(b) Super Demand Investment LimitedSuper Demand )48% France Investment (China I) Group Limited 24% (c) Super Demand 45%(b) (c)293,000,000 (a) (b) (c) 110

19. (i) 2,193,684 1,636,250 (544,137) (185,891) 3,099,906 3,099,906 33.6% 1,041,569 39,889 (134,652) 946,806 3,269,098 964,551 653,785 414,523 (ii) 212,874 219,764 212,874 219,764 111

19. (ii) 2,481,196 816,754 (2,168,365) (108,464) 1,021,121 1,021,121 21.82% 222,809 (9,935) 212,874 4,055,598 62,399 16,868 10,571 (iii) 12,451 12,451 98,643 112

20. 2,419,678 63,937 368,351 361,626 368,351 425,563 1,206,000 1,206,0001,206,0001,206,000 5% LTT Bio-Pharma Co., Ltd. 4.93% Lifebond 14.73% 5%Wuxi Healthcare Ventures II. L. P. 6.99% 21. Karolinska Development AB 224,989 Karolinska Development AB 22,858,294 250,000,000 22 8% 113

22. 266,675 269,019 181,909 194,627 498,635 431,645 2,929 6,334 23. 950,148 901,625 1,867,102 1,892,020 (694) (2,359) 1,866,408 1,889,661 60180 90 1,603,326 1,459,335 91180 235,107 412,250 180 27,975 18,076 1,866,408 1,889,661 114

23. 2,359 5,162 6 319 (124) (1,932) (2,571) (52) (108) 694 2,359 1,680,660 1,777,452 30 148,005 84,059 31 90 35,725 16,505 91 180 1,656 7,569 181 365 362 4,076 1,866,408 1,889,661 115

23. 549,831,000 656,058,000 438,485,000 547,712,000 24. 85,532 107,750 1,411,065 216,343 23,671 41,770 7,342 7,323 1,527,610 373,186 154,347 1,135,890 116

25. 460,826 529,671 26. 1,230,422 1,362,227 1,300,457 1,805,003 180,182 1,301,103 2,711,061 4,468,333 2,250,880,000 3,651,942,000 117

27. 90 617,372 600,036 91 180 111,786 135,742 180 38,434 39,463 767,592 775,241 90 28. 57,880 46,528 757,277 627,576 810,431 609,569 1,246,521 989,705 55,049 50,094 152,091 120,593 3,079,249 2,444,065 118

29. (%) (%) 4.85 2016 5,966 3.0-5.6 2015 176,124 (d) LIBOR+2 2016 1,287,000 (c) 5.6-6.2 2016 34,603 5.6-6.0 2015 29,978 (e) 3.0-3.8 2016 76,551 3.5-5.0 2015 216,594 (f) HIBOR+1.75 2016 12,750 6 2015 12,491 (f) HIBOR+1.95 2016 3,120 (d) LIBOR+2 2016 1,287,000 (f) HIBOR+1.75 2030 137,453 6 2016 1,597 (f) HIBOR+1.95 2022 168,609 1,726,052 1,723,784 1,419,990 435,187 15,870 1,288,597 47,609 242,583 1,726,052 1,723,784 (a) (b) (c) (d) (e) (f) 2% 37,228,000 52,079,000 165,000,000 2% 76,551,000216,594,000 76,551,000216,594,000 496,488,859 119

30. 31. 18,560 69,054 159,421 9,198 24,203 280,436 10 7,032 (4,047) 51,602 20,127 (1,544) 73,170 (61,333) (236) (61,569) 3,473 3,473 25,592 68,480 149,690 29,089 22,659 295,510 20,789 794 236,051 12,960 41,043 311,637 10 13,065 20 70,686 6,340 40,907 131,018 33,854 814 306,737 19,300 81,950 442,655 120

31. 214,966 (67,821) 147,145 15,087 57,926 115,966 8,456 197,435 10 3,473 126 78,852 9,198 (1,168) 90,481 (35,397) (35,397) 11,002 16,915 27,917 18,560 69,054 159,421 9,198 24,203 280,436 15,853 1,116 195,139 7,517 32,216 251,841 10 4,936 (322) 40,912 5,443 8,827 59,796 20,789 794 236,051 12,960 41,043 311,637 121

31. 107,927 (76,726) 31,201 10% 5% 32. 7,412,192,209 0.025 4,941,461,473 0.025 (i) 185,305 123,536 (i) 2,470,730,736 122

33. 30% 10%494,146,147 1% (a)0.1%(b) 5 301 123

33. (i)(ii) (iii) 10 0.10 4 0.025 34. (1) (2) (3) 124

35. 40.0% 40.0% 44.4% 44.4% 40.0% 40.0% 813,427 584,638 139,459 131,199 615,725 386,190 1,287,169 1,001,038 319,350 343,955 739,447 465,942 7,654,929 1,801,169 2,513,208 (5,621,362) (1,487,071) (973,896) 2,033,567 314,098 1,539,312 1,893,554 284,630 1,463,099 2,438,674 748,482 2,077,246 2,318,215 593,122 149,659 (1,347,326) (615,201) (357,858) (191,641) (7,146) (20,430) 1,263,652 276,755 842,027 (1,291,528) (405,453) (49,823) (1,290,050) (339,472) (794,746) (1,317,926) (468,170) (2,542) 125

35. 6,264,934 1,548,654 1,737,039 (4,803,338) (1,253,161) (771,564) 1,461,596 295,493 965,475 1,435,183 282,954 943,532 1,663,010 819,296 1,240,920 2,225,070 495,279 132,440 (1,250,173) (532,274) (196,286) (135,313) (7,627) (12,220) 1,647,798 401,607 598,826 (156,064) (186,859) (64,443) (759,793) (79,787) (542,057) 731,941 134,961 (7,674) 36. (a) 14 6,072 22,770 28,842 126

36. (b) 37. 15,684 10,363 13,703 20,347 30,136 32,211 36 59,523 62,921 117,682 180,860 406,422 99,000 78,936 196,618 686,282 127

38. (a) (i) 5,689 5,744 (ii) 6,983 7,124 (i) (ii) (b) (i) (ii) 35,500,000 44,900,000 14A 20,000,000 25,300,00030,000,000 37,900,000 50,000,000 63,200,000 14A 128

38. (b) (iii) 63,300,000 80,000,00075,900,000 95,900,000 90,900,000 114,900,000 14A 34,398,000 37,158,000 (iv) (v) 12,900,000 16,300,00015,300,000 19,300,000 18,400,000 23,300,000 14A 14,356,000 10,475,000 1,500,000 1,900,000 2,000,000 2,500,000 2,500,000 3,200,000 14A 1,618,000975,000 129

38. (b) (vi) 50% 3,600,000 4,500,000 3,840,000 4,900,0004,200,000 5,300,000 14A 3,600,000 4,489,000 4,500,000 38(a) (vii) 33.5 10,000,00012,600,000 14A 386,000 3,883,000 (viii) 4 900,0001,100,000 14A 580,000429,000 130

38. (b) (ix) (x) (xi) 4,500,000 5,700,000 14A 3,408,0003,477,000 14,200,000 17,900,00015,800,000 20,000,00017,300,00021,900,000 14A 12,872,0009,894,000 800,0001,000,000 1,200,0001,500,0001,600,000 2,000,000 14A 131

38. (b) (xii) 4,000,000 5,100,000 5,000,0006,300,000 6,000,000 7,600,000 14A 567,000 1,174,000 (xiii) 40,000,000 50,500,00056,000,000 70,800,000 78,400,00099,100,000 14A 19,007,00022,501,000 (xiv) 2,000,0002,500,0003,000,0003,800,0004,000,000 5,100,000 14A 2,657,000602,000 132

38. (b) (xv) 3,300,0004,200,0004,000,0005,100,0004,800,000 6,100,000 14A 802,000 3,448,000 (xvi) 10,000,00012,600,00013,000,00016,400,00016,900,000 21,400,000 14A 3,316,0001,427,000 (xvii) 10,000,000 12,600,000 13,000,000 16,400,000 16,900,000 21,400,000 14A 133

38. (b) (xviii) 156,000,000 197,100,000202,800,000 256,300,000 255,000,000 322,200,000 14A 214,902,000153,941,000 (xix) 20,000,00025,300,00026,000,000 32,900,00033,800,000 42,700,000 14A 21,512,000 11,523,000 (xx) 9,600,00012,100,00011,600,000 14,700,000 15,000,000 19,000,000 14A 4,086,000 3,950,000 134

38. (b) (xxi) 2,000,0002,500,0002,600,000 3,300,000 3,500,0004,400,000 14A 2,909,0001,966,000 (xxii) 99 1,200,0001,440,0001,800,000 14A 1,200,000 1,200,00038(a) (xxiii) 32,300,00040,800,00036,500,000 46,100,000 39,600,000 50,000,000 14A 32,493,000 22,009,000 135

38. (b) (xxiv) 6,000,0007,600,000 14A 6,983,000 7,124,000 38(a) (xxv) Validated Profits LimitedValidated Profits (a) Validated Profits Validated Profits 7.5% (b) 2.5% 280,402,000293,539,000 20 4,700,000,0005% 136

38. (b) (xxvi) (a)51% 33.6%293,000,000(b)Super Demand 48% 24% (c) Super Demand 45% (b) (c)293,000,000 (a)(b) (c) (c) 33,959,000 18,050,000 (d) 8 90,415 90,406 1,292 1,273 91,707 91,679 137

39. 460,826 460,826 224,989 224,989 2,788,029 2,788,029 1,866,408 1,866,408 1,411,065 1,411,065 2,711,061 2,711,061 460,826 224,989 5,988,534 2,788,029 9,462,378 529,671 529,671 425,563 425,563 1,889,661 1,889,661 216,343 216,343 18,050 18,050 4,468,333 4,468,333 529,671 6,592,387 425,563 7,547,621 138

40. 460,826 529,671 460,826 529,671 224,989 224,989 2,788,029 425,563 2,788,029 425,563 1,866,408 1,889,661 1,866,408 1,889,661 1,411,065 216,343 1,411,065 216,343 18,050 18,050 2,711,061 4,468,333 2,711,061 4,468,333 9,462,378 7,547,621 9,462,378 7,547,621 767,592 775,241 767,592 775,241 810,431 609,569 810,431 609,569 1,726,052 1,723,784 1,662,096 1,723,784 33,959 33,959 3,304,075 3,142,553 3,240,119 3,142,553 139

40. 460,826 460,826 224,989 224,989 529,671 529,671 140

41. 50 (1,610) (1,610) 50 (6,435) (6,435) (50) 1,610 1,610 (50) 6,435 6,435 50 50 (6,435) (6,435) (50) (50) 6,435 6,435 141

41. % 5 235,490 (5) (235,490) 5 213,536 (5) (213,536) 142

41. 261,178 456,245 47,300 2,869 767,592 364,835 266,585 141,729 37,282 810,431 79,233 1,380,044 333,793 1,793,070 626,013 802,063 1,569,073 373,944 3,371,093 110,711 598,903 58,382 7,245 775,241 213,667 227,318 153,626 14,958 609,569 307,779 127,408 1,288,597 1,723,784 33,959 33,959 358,337 1,134,000 339,416 1,310,800 3,142,553 143

41. 25 1% 431,573 4,316/(4,316) 4,316/(4,316) 29,253 293/(293) 293/(293) 497,871 4,979/(4,979) 4,979/(4,979) 31,800 318/(318) 318/(318) 144

42. 15,922 18,185 496,489 1,025,819 1,025,819 98,644 23,278 87,215 18,848 135,058 1,679,000 1,266,277 1,506,506 1,742,854 43,344 70,089 460,826 529,671 1,362,290 747,658 3,372,966 3,090,272 260,892 626,150 75,159 63,234 1,302,870 1,638,921 689,384 1,734,045 2,400,888 3,413,045 3,667,165 306,062 1,287,000 306,062 1,287,000 3,106,983 2,380,165 185,305 123,536 2,921,678 2,256,629 3,106,983 2,380,165 145

42. 1,285,444 60,464 649,469 98,829 2,094,206 1,206 482,412 483,618 (98,829) (98,829) (222,366) (222,366) (74,122) 74,122 1,285,444 60,464 1,206 835,393 74,122 2,256,629 1,285,444 60,464 1,206 835,393 74,122 2,256,629 (1,206) 1,024,512 1,023,306 (74,122) (74,122) (61,769) (61,769) (222,366) (222,366) (111,183) 111,183 1,223,675 60,464 1,526,356 111,183 2,921,678 2.4 43. 2.58 3.05 1,907,845,112 H 44. 146