WEST CHINA CEMENT LIMITED 94796 (a) (b) (c) (d) (e) 322(1) (f) (g) (h) (i) (j) (k) S (l) (m)

9.6 61%5.0 2.43.55.11.22.2 1.1 2.2 0.7 12.5 30 34.0% 26.0% 32.4% 24.5% 21.4% 36.0% 31.2% 37.3% 24.8% 22.0% 20.7% 17.1% 30.539.265.0 25.2

5.21.5 6.53.2 (1)... 104.6 136.4 657.7 72.0 77.5... 60.4 165.1 113.3 23.8 43.8... 273.7 406.4 595.1 205.6 416.4 (2)... 87.2 158.2 150.7 48.0 137.6... 525.9 866.1 1,516.8 349.4 675.3 (1) (2) 0.91.85.50.66.8

525.9 866.1 1,516.8 69.8% 174.9 283.2 616.2 87.7% 150.3246.2 330.5 48.3% 675.3242.5154.3 93.3% 75.8% 69.9% 42.5 42528 32.532528

(1)... (2) 448.0 320.0 1... 1 2... 2 646.1 293.7 (4)... 807.8 448.8 (5)... (3) (2) 153.8 219.7... (3) (2) 365.4 332.2... (2) 405.0 368.2 (6)... (2) 242.4 220.4 (7) (1) (2) (3) (4) 0.7 (5) 0.2 7 (6) 80 440.9 (7) 350400 318.2 363.6

(2) (1)... 1.4 1.4 1.4 (3) 1.4 1.4 1.4 100.0% 100.0% 100.0% 1+ 2... 2.2 2.2 2.2 1.0 (4) 2.0 2.2 83.9% 90.9% 100.0%... 2.0 (5) 1.3 (7) 86.7%... 0.7 (6) 0.2 (8) 68.6%... 1.1 (9)... 1.1 (10)... 3.6 3.6 8.5 2.4 3.5 5.1 (1) 3100.7 0.25 0.9 0.7 0.7 (2) (3) 300,000 (4) 12 (5) 200,000 (6) 248,000 (7) (8) (9) (10) (11) 1.1 0.7

... 1.1 330-380 164 166-216... 1.1 370-420 57 313-363 (3) (1) (2) 1.3 1,078 85,300 1.3 2,120 59,360 0.4 1,754 69,500 0.1 400 154,970 0.1 450 8,635 (2) 0.2 80 7,007 (4) 0.6 2,219 110,180 0.3 1,200 13,542 0.2 1,200 27,937 (1) (2) (3)

30 20 10 80 15 8015 (4) 100,000 1.1 2.2

12 18 0.25 0.6 4

4.5 2.2 0.8 2.8 4.0 1.1 3.7 ;

1.4 409360 511450 250200 257.4258.41,074.4 1,064.9 (i)(ii) 336.2676.31,648.9 1,466.0 (i) (ii) 50 (iii) 300

(i) (ii) (iii)(iv) (i) BVI(ii)BVI(iii) BVI (i)(ii) (iii)

BVI

0.10 50 0.002 10,000,000,000 0.002 75%

... 0.0382 0.0330 0.0354 0.0360... 0.0366 0.0318 0.0358 0.0353... 0.0546 0.0330 0.0516 0.0398... 0.0674 0.0486 0.0654 0.0585... 0.0812 0.0622 0.0694 0.0728... 0.1016 0.0680 0.0882 0.0855... 0.0986 0.0858 0.0940 0.0926... 0.0954 0.0870 0.0894 0.0902... 0.0928 0.0766 0.0772 0.0872... 0.0938 0.0776 0.0914 0.0880... 0.1355 0.0914 0.1217 0.1196... 0.1455 0.1197 0.1335 0.1326... 0.1345 0.0840 0.1015 0.1135... 0.1115 0.0925 0.0980 0.1019... 0.10 500.002 20,000,000 10,000,000,000 0.002 50

... 525,929 866,126 1,516,766 349,421 675,309... (350,165) (556,073) (878,087) (198,537) (429,710)... 175,764 310,053 638,679 150,884 245,599... (9,796) (12,018) (15,064) (4,745) (6,082)... (29,038) (55,224) (77,846) (16,778) (24,912) (1)... 35,708 40,617 71,526 8,546 28,444... 2,273 (184) (1,057) 50 (513)... 174,911 283,244 616,238 137,957 242,536... 1,572 2,600 1,190 347 138... (168,451)... (26,210) (28,115) (73,830) (39,855) (58,582)... (24,638) (25,515) (241,091) (39,508) (58,444)... 150,273 257,729 375,147 98,449 184,092... (11,566) (44,687) (7,626) (29,798)... 150,273 246,163 330,460 90,823 154,294... 150,273 246,163 330,460 90,823 154,294... 150,273 246,163 330,460 90,823 153,074... 1,220 (2)... 2.35 3.84 5.12 1.42 2.36 (3)... 2.33 3.83 5.07 1.42 2.34 (1)

(2) (3)... 961,507 1,540,533 2,611,502 3,128,079... 17,806 76,521 124,571 178,412... 25,500 27,907 46,373 45,681... 65,104 64,413... 12,364 798 13,540 13,540 1,017,177 1,645,759 2,861,090 3,430,125... 45,653 81,507 128,979 143,633... 101,454 125,770 317,670 382,194... 29,997 37,038 346,258 53,724... 24,336 35,999 19,582 9,415 201,440 280,314 812,489 588,966... 1,218,617 1,926,073 3,673,579 4,019,091... 96,811 96,811 97,623 98,634... 662,636 662,636 672,775 687,922... 5,228 6,708 5,439 686... (341,304) (341,304) (341,304) (341,304)... 36,420 63,163 118,140 118,140... 222,650 442,070 717,553 870,627 682,441 930,084 1,270,226 1,434,705... 25,000 26,220... 682,441 930,084 1,295,226 1,460,925

... 63,800 407,069 360,058 746,336... 32,908... 6,265 6,389... 8,079 8,079... 13,487 17,317 117,049 143,539 77,287 457,294 491,451 904,343... 186,536 269,511 559,395 898,450... 38,639 35,715... 272,353 269,184 1,288,868 719,658 458,889 538,695 1,886,902 1,653,823... 536,176 995,989 2,378,353 2,558,166... 1,218,617 1,926,073 3,673,579 4,019,091... (257,449) (258,381) (1,074,413) (1,064,857)... 759,728 1,387,378 1,786,677 2,365,268... 170,969 323,092 619,676 229,236 261,572... (355,395) (667,923) (847,503) (250,590) (373,978)... 22,034 351,872 537,047 82,460 (180,128)... (162,392) 7,041 309,220 61,106 (292,534) 192,389 29,997 37,038 37,038 346,258 29,997 37,038 346,258 98,144 53,724

(1)... 307.0 348.9 (1) 11.18

BVI 4,00012

32 45.69% BVI [ ] [ ] (www.dcement.com) 43 32 Credit Suisse International

50 50

[ ] [ ]

D. 2. 50.42% 38.33% 3.33% 3.33% 3.33% 0.83% 0.42%

0.002 D. 1. 2 Credit Suisse International

BVI BVI % 0.881.00 6.831.00

*

310 35% 42.5425 28

32.5325 28 5% 90% 5%

13.6% 35.1% 8.7% 30.1% 26.5 34.037.547.521.5% 525.9866.1 1,516.869.8%150.3 246.2330.548.3% 675.3154.3 93.3% 69.9%

359.1 669.1750.2374.8 68.3% 77.3% 49.5% 55.5%409360 511450 250200 80%

100 355.4667.9847.5374.0 171.0323.1619.7 261.6 29% 41% 50% 49% 336.2676.31,648.91,466.0 257.4258.4 1,074.41,064.9

12 1,446.0 10% 2.22.62.62.0 BVI (i) BVI(ii)BVI (iii) BVI

21.4% 36.0% 31.2% 37.3% 290 492 434 559 24.8% 22.0% 20.7% 17.1% 0.40 0.40 0.43 0.48 0.0367

2.0 4.15.4 7.44.2 27.5 37.574.827.5 7.9% 6.7% 8.5% 6.4%

34.0% 26.0% 32.4% 24.5% (i) (ii) (iii) (iv) (i)(ii)

50% 16 25% 15% 162.9 256.3539.0197.8 25% 10%

30.539.265.0 25.220.3% 15.9% 19.7% 16.3% % G20 (i) (ii)(iii) (iv)(v)

45.69% 50%

0.6 0.4 0.31.9 2.4 2.7 0.3 1214

0.61.6 2.51.2 0.5 1.10.6

(1) (2) (i) (ii)(iii)

GB175-1999 200,000 200,000

500,000

25%

10% 10% H 10%

1% 3,562,000 1% 6,634,000 1% 6,742,000

H1N1

... 402... 66... 11021... 502... 127... 48 A9... 88 A22... 89 6 13 E

8 39 12 500 100742 Memery Crystal LLP 44 Southampton Buildings London WC2A 1AP United Kingdom Carey Olsen 47 Esplanade St Helier Jersey JE1 0BD 22

979 17

A 1903 47 Esplanade St Helier Jersey JE1 0BD 183 34 3401-2 HKICPA, FCCA Computershare Investor Services (Channel Islands) Limited Ordinance House 31 Pier Road St Helier Jersey JE4 8PW 44

(PO)(PS)(PC) 32.5R 42.5R 52.5R 15% 50%

(1)(2) (3) (4) 2,7001,450

............ 14.1% 63.0% 211,924 335,35316.5% 109,998 224,84626.9% 1,6291,240 9.5%1,620 9.9% 9.6%10.0% 13.0% 4 81.8%

(%)... 21,192.4 25,730.6 31,404.5 33,535.3 16.5% (%)... 11.6% 13.0% 9.6% 8.7%... 10,999.8 13,732.4 17,229.1 22,484.6 26.8% (%)... 23.9% 24.8% 25.5% 30.1%... 1,240.0 1,360.0 1,400.0 1,629.0 9.5% (%)... 17.0% 9.7% 2.9% 16.4%... 1,220.6 1,344.8 1,368.8 1,620.5 9.9% (%)... 16.4% 10.2% 1.8% 18.4% 4

31.3% 16 2.7% 14.1% 17.1% 22.1% 32.8% 44.9% 48.8% 55.0% 63.0% 200,000 70% 30%

5,000 2,0002,000103040 70% 10% 30

130110 40% 60% 80% 110 60% 80% 15% 15.6%9.6% 6,55335.1% 30.1%

3G... 438.4 537.0 685.1 818.7 23.2%... 12.7% 14.4% 15.6% 13.6% 23.2%... 11.6% 13.0% 9.6% 8.7% 16.5%... 261.0 364.2 483.5 655.3 35.8%... 31.9% 39.5% 32.8% 35.1% 35.8%... 23.9% 24.8% 25.5% 30.1% 26.8%... 23.8 30.3 36.1 44.8 23.5%... 20.8% 27.4% 19.2% 24.1% 23.5%... 17.0% 9.7% 2.9% 16.4% 9.5%... 26.5 34.0 37.5 47.5 21.5%... 20.5% 28.3% 10.3% 26.7% 21.5%... 16.4% 10.2% 1.8% 18.4% 9.9% 23.844.823.5% 9.5%26.545.1 21.5%9.9%

1... 31.0% 2... 23.9% 3... 19.5% 4... 19.0% 5... 17.1% 6... 17.1% 7... 17.0% 8... 16.3% 9... 16.3% 10... 15.7%

40% 1570%... 3,300... 4,400... 3,000... 2,400... 800... 3,500... 17,500... 4,600... 3,700... 4,300... 47,500

1645150,000 7 77.4% 7 1 3,979.3 2 3,422.4 3 2,960.1 4 2,864.1 5 2,397.0 6 1,293.4 7 1,180.0 11.4% 15.6 60%9.9 3.3 6.6

... 9,880 3,280 6,610... 550 200 350... 950 200 750... 570 280 290... 5,530 1,850 3,690... 2,280 750 1,530... 5,750 3,220 2,530... 1,900 1,090 810... 2,950 1,750 1,200... 900 380 520......... 15,630 6,500 9,140 (www.dcement.com) 124,000 180,000

2005(i) 4,000 2,000 (ii) 100 (iii)2,000 1,500 2.22.5 1.83 4,000 20

4,000 2,000 2,000 2,000 70% 75,0002,000 3,0001050040 2008 4,000

105 90 30 50

1 3 20052,000

302010 30

100100 5001,000 1,000 = x x

259 2% 50% 0.5 20 2 0.5 3.0 2

25%

10% 25% 5%10% 25% 10% (1) (2) (3) 12 5%5% 15%

70% 15% 17% 30% 100% < > (1)(2)

(3) (4) 30%

1% 5%

75

10% 50%

13... 394,000 35.69%... 238,200 21.58%... 110,800 10.03%... 184,000 16.67%... 119,000 10.78%... 2,000 0.18%... 2,000 0.18%... 20,000 1.81%... 10,000 0.91%... 10,000 0.91%... 2,000 0.18%... 4,000 0.36%... 2,000 0.18%... 1,000 0.09%... 1,000 0.09%... 4,000 0.36%... 1,104,000 100.00% 13

833,550 (i) 21.58% 238,200(ii) 10.03% (iii) 0.91%10,000(iv) 0.18% 2,000(v) 1.81% 20,000(vi) 1,861,800... 2,494,000 84.10%... 300,800 10.15%... 119,000 4.01%... 10,000 0.34%... 4,000 0.13%... 2,000 0.07%... 1,000 0.03%... 1,000 0.03%... 4,000 0.13%... 10,000 0.34%... 20,000 0.67%... 2,965,800 100.00% 10

18,390,000 18,407,400 70,000 70,000 150,000 2,500 1.4 2,5002.2 4,000 7 1.1 700,000

1.18.5 30,000,000... 15,470,000 51.57%... 1,861,600 6.21%... 738,500 2.46%... 62,000 0.21%... 24,800 0.08%... 12,300 0.04%... 6,300 0.02%... 6,300 0.02%... 24,800 0.08%... 62,000 0.21%... 121,400 0.40%... 1,750,000 5.83%... 430,000 1.43%... 1,000,000 3.33%... 500,000 1.67%... 500,000 1.67%... 7,430,000 24.77%... 30,000,000 100.00% 18,390,000 18,407,400 2,180,000 2,192,300

30,000,000 60,000,000... 27,487,700 45.81%... 3,804,360 6.34%... 2,289,350 3.81%... 230,200 0.38%... 52,080 0.09%... 25,830 0.04%... 63,230 0.11%... 15,930 0.03%... 52,080 0.09%... 230,200 0.38%... 354,940 0.59%... 1,925,000 3.21%... 973,000 1.62%... 1,100,000 1.83%... 550,000 0.92%... 550,000 0.92%... 20,296,100 33.83%... 60,000,000 100.00% (i)3,000,00010 1(ii) 14,876,900(iii) 8,350,000(iv)3,773,100 43 13,800,00031,200,00060,000,000 105,000,0000.72%

753,500... 48,558,475 46.24%... 1,925,000 1.83%... 962,500 0.92%... 962,500 0.92%... 5,689,775 5.42%... 4,777,500 4.55%... 735,350 0.70%... 109,025 0.10%... 46,550 0.04%... 329,700 0.31%... 50,575 0.05%... 91,525 0.09%... 686,700 0.65%... 962,500 0.92%... 8,694,900 8.28%... 3,024,875 2.88%... 2,915,500 2.78%... 616,875 0.59%... 506,100 0.48%... 581,000 0.55%... 100,100 0.10%... 235,900 0.22%... 114,625 0.11%... 114,625 0.11%... 199,325 0.19%... 184,625 0.18%... 192,500 0.18%... 8,750,000 8.33%... 2,223,900 2.12%... 1,855,000 1.77%... 1,207,500 1.15%... 889,000 0.85%... 388,500 0.37%... 376,250 0.36%... 793,625 0.76%... 45,500 0.04%... 175,000 0.17%... 175,000 0.17%... 275,000 0.26%... 275,000 0.26%... 102,100 0.10%... 1,000,000 0.95%... 70,000 0.07%

... 2,000,000 1.90%... 1,000,000 0.95%... 30,000 0.03%... 105,000,000 100.00% (i) 1.83% 0.92% 0.39% 1,925,000 962,500 412,500(ii) 430.05% 0.03% 0.17% 0.04% 50,575 28,525 175,000 46,500(iii)0.53% 550,000(iv) 0.06% 63,000... 48,558,475 46.24%... 5,689,775 5.42%... 4,777,500 4.55%... 735,350 0.70%... 109,025 0.10%... 329,700 0.31%... 686,700 0.65%... 962,500 0.92%... 12,295,550 11.71%... 3,024,875 2.88%... 2,915,500 2.78%... 616,875 0.59%... 506,100 0.48%... 581,000 0.55%... 100,100 0.10%... 235,900 0.22%... 114,625 0.11%... 114,625 0.11%... 199,325 0.19%... 184,625 0.18%... 192,500 0.18%... 8,750,000 8.33%

... 2,286,900 2.18%... 1,855,000 1.77%... 1,207,500 1.15%... 889,000 0.85%... 388,500 0.37%... 376,250 0.36%... 793,625 0.76%... 45,500 0.04%... 175,000 0.17%... 275,000 0.26%... 275,000 0.26%... 102,100 0.10%... 1,000,000 0.95%... 70,000 0.07%... 2,000,000 1.90%... 1,000,000 0.95%... 30,000 0.03%... 550,000 0.53%... 105,000,000 100.00% 39 (i) 11.71% 8.33%(ii)37 33.72%43,824,300 127,011,347 10% 13,000,000127,011,347 90% 10%

BVI BVI BVIBVI BVI42,735,9652020 20 BVI 425,000,000 530,000,000 10,000,000 90% 6% 4% 6% 4% 135,000,000345,000,000 135,000,000 105,000,000140,000,000

35,000,000 105,000,000 21,000,000 84,000,000 125,000,000 80% 20% 100,000,00050,000,000 50,000,000 25,000,000 165,320,900(i)1.1 365,320,900(ii) 200,000,000165,320,900 25,000,000 140,320,900 [ ] [ ] 75,000,000 50,000,000

80% 20% 20%25,000,000 10,000,000 20,000,000 41 180,699,527 700,000 100%

AS 1 BVI 2 3 4 20%80% 20% [ ] 10% 50,000 50,000 1.00100

50,000 50,000 1.00100 1.004,273,599 6.49% 6.49% 2,830,189 4.30%1.00 4.30% 10,000 10,000 1.001Ready- Made Incorporations Limited Ready-Made Incorporations Limited1.00 1BVI BVI BVI 5% 5%

本網上預覽資料集為草擬本 本網上預覽資料集所載資料並不完整 並可予更改 本網上 預覽資料集必須與其封面 警告 一節一併閱讀 歷史 重組及企業架構 根據中國西部BVI 作為賣方 與集誠 作為買方 於二零一零年三月一日訂立的股權轉讓 協 議 中 國 西 部 BVI以 代 價 人 民 幣 530,000,000元 轉 讓 其 於 陝 西 堯 柏 持 有 的 全 部 股 權 予 集 誠 代價乃經參考陝西堯柏的註冊資本釐定 並以集誠按溢價向中國西部BVI配發及發行99 股入賬列作繳足的股份支付 於二零一零年四月十六日完成轉讓後 陝西堯柏由集誠全資 擁有 下圖載列本集團緊隨重組及Anthony Schindler先生及Simon Waxley先生於最後實際可 行日期行使部分AS認股權證後 但於[ ]完成前的企業及股權架構 附註1 科信及中耀各自的主要業務均為投資控股 附註2 本公司 中國西部BVI及集誠各自的主要業務均為投資控股 附註3 陝西堯柏 藍田堯柏 安康堯柏 漢中堯柏 勉縣堯柏 秀山堯柏及西鄉堯柏各自的主要 業務均為生產和銷售水泥 附註4 西安堯柏的主要業務為批發原材料 附註5 龍橋堯柏由陝西堯柏及陝西丹水 就其於龍橋堯柏的20%權益而言屬關連人士 分別擁有80% 及20%權益 根據[ ] 由於本公司關連人士 在本公司附屬公司層面除外 於最後實際可行 日期在龍橋堯柏股東大會上概無持有10%或以上投票權 故龍橋堯柏並非本公司的關連人 士 龍橋堯柏的主要業務為生產和銷售水泥 99

[ ] Robert Sinclair RobertsonBrett Lance Miller Robert Sinclair RobertsonBrett Lance Miller Robert Sinclair RobertsonBrett Lance Miller Robert Sinclair RobertsonBrett Lance Miller Sino Vanadium Inc. Sino Vanadium Inc. Sino Vanadium Inc.Sino Vanadium Inc. 0.1050 0.002 10,000,000,000 0.002[ ] [ ] (A) 2.0

60 6013.5%(a) [ ] 2450% 36 50%(b)30 30 2451 5 5 (a) (b) 50% 20,625476,922.22 618,750(C) 2.6916 2015% 7,802,142 36

19% (i)bvi (ii) BVI(iii) BVI(iv) BVI (v) BVI(vi) (vii) BVI (viii) 7,802,142 10.7% 30,187,6966.5608 4.001.6402 2.6916 7,802,142 10%5% 168.5 168.5

(B) 5050 30.2 5 [ ] 7 19,393,776[ ] 29.45% (C) 50 50 3 [ ][ ]50%

51 [ ] (i)bvi (ii)bvi (iii)(iv)bvi (v) (vi) 19,393,776[ ]29.45% [ ] (a) (m) (b) (i)bvi (ii)(iii)

(iv) (v) (vi) (vii) (viii) (c) (d) (e) (a) (b) 51% 51% 51%

(f) (g) (h) (i) (j) (k) (l) (i)

(ii) (i)110 2.5 (A) (B) (1) (2) (x) (y) (z) (I) (II) (a) (b) (c) (d) (e) (f) (g) (h) (i) (a) (h)

(a) (b) (c) (d) (A) (B) (1) (2) (C) (e) (f)

(g) (A) (B) (h) (i) (j) (k) (l) 330,000,000/ (m) (m) (A)1,125,000,000(B) 2.00 1(C) EBITDA5.00 1 (i) (ii)(iii) (iv) (v)

EBITDA EBIT EBIT (i)(ii) (iii) (i) (ii)(iii) 15 (m)

(a) (b) (c) (d) (a) (d)10,000,000 (a) 15(b) Eastbank Consulting LLP Anthony SchindlerInsinger de BeaufortInsinger de Beaufort Eastbank Consulting LLP Anthony Schindler Eastbank Consulting LLP Eastbank Consulting LLP 13,3286,666Eastbank Consulting LLP 13,332 Anthony Schindler 420,000 0.10AS ASAS [ ]AS[ ] 0.51%420,000 AS(a)100,000 AS Insinger de BeaufortAnthony SchindlerInsinger de Beaufort AS Anthony Schindler AS 1.05(b) 320,000 ASAnthony Schindler AS1.577 Anthony Schindler100,000 AS

AS1.05Anthony SchindlerAnthony Schindler [ ][ ]ASAS (i)as[ ]1.577 0.03154(ii)Anthony Schindler230,000AS Anthony SchindlerAS11,500,000 AS [ ]AS AS Simon Waxley Anthony Schindler Anthony Schindler 90,000 AS Simon Waxley Simon Waxley ASAS 1.577Simon WaxleyAnthony Schindler AS Anthony Schindler Anthony Schindler BVI [ ]

[ ]

9.6 61% 5.0 2.43.55.11.22.2 1.1 2.2 0.7 12.5 30 34.0% 26.0% 32.4% 24.5% 21.4% 36.0% 31.2% 37.3% 24.8% 22.0% 20.7% 17.1% 30.539.265.0

25.2 5.21.5 6.53.2 525.9 866.1 1,516.8 69.8% 174.9 283.2 616.2 87.7% 150.3246.2 330.5 48.3% 675.3242.5154.3 93.3% 75.8% 69.9% 42.5425 28 32.532528

10

13.6% 35.1% 8.7% 30.1% 26.534.037.545.1 19.4%

8.0% 6.1% 10.0% 6.4% 30 1.6 30.5 39.265.025.2 18.4

20 3.3 80% 20

5.0% 3.5% 5.0% 3 17 PO42.5 (42.5) 22(42.5R) 23 PO42.5R (52.5) 27(52.5R) 28 PO52.5 42.542.5 42.5R PO52.5R 52.552.5 52.5R3 3.5(42.5) 4 42.5R 52.5 5(52.5R) 28 6.542.5 42.5R7.0 52.5 52.5R) 3.5% 6.0% 3 10 (32.5) 1532.5R PC32.5 42.5) 19(42.5R) 28 PC32.5R 32.532.5 42.5R PC42.5 42.542.5 42.5R3 PC42.5R 2.5(32.5) 3.5 32.5R 42.5 4.0 (42.5R) 28 5.5 32.5 32.5R 6.542.5 42.5R 3.5% 5% 3 127 2228 PMH42.5 42.53 3 7 4.528 6.53 2517 293

3.5% 5% 7 1328 42.57 PLH42.5 42.528 6.53 230 7 260 3.5% 5% 7 21 28 32.5 PSLH32.5 7 3.0 28 5.53 1977 230 3.5% 5% 3 2128 42.53 PR42.5 4.028 7.0 9.6

(1)... (2) 448.0 320.0 1... 1 646.1 293.7 2... 2 (4)... 807.8 448.8 (5)... (3) (2) 153.8 219.7... (3) (2) 365.4 332.2... (2) 405.0 368.2 (6)... (2) 242.4 220.4 (7) (1) (2) (3) (4) 0.7 (5) 0.2 7 (6) 80 440.9 (7) 350400 318.2 363.6

(2) (1)... 1.4 1.4 1.4 (3) 1.4 1.4 1.4 100.0% 100.0% 100.0% 1+ 2... 2.2 2.2 2.2 1.0 (4) 2.0 2.2 83.9% 90.9% 100.0%... 2.0 (5) 1.3 (7) 86.7%... 0.7 (6) 0.2 (8) 68.6%... 1.1 (9)... 1.1 (10)... 3.6 3.6 8.5 (11) 2.4 3.5 5.1 (1) 3100.7 0.25 0.95 0.7 0.7 (2) (3) 300,000 (4) 12 (5) 200,000 (6) 248,000 (7) (8) (9) (10) (11) 1.1 0.7

200,000 180.7 700,000PC32.5 PO42.5 80% 100.0 50.0 50.0 1.1PO42.5 PC32.5 PC32.5R 100% 1.1

100 100 650

1.1 2.2 4 660 580... 1.1 330-380 164 166-216... 1.1 370-420 57 313-363 1,4501,280 250 50110 100500 80

110 ERP70 1,5002,500 (1)(2) (3) (4)

34.0% 26.0% 32.4% 24.5% 30 7.627.3 31.415.8 0.62.52.71.4 2.5

1.30.61.7 0.6 (3) (1) (2) 1.3 1,078 85,300 1.3 2,120 59,360 0.4 1,754 69,500 0.1 400 154,970 0.1 450 8,635 (2) 0.2 80 7,007 (4) 0.6 2,219 110,180 0.3 1,200 13,542 0.2 1,200 27,937 (1) (2) (3) 30 20 10 80 15 8015 (4) 100,000

21.4% 36.0% 31.2% 37.3% 0.30.40.60.3 290 492 434 559 24.8% 22.0% 20.7% 17.1% 16,500 0.14 0.16 0.48 18.4 27,000

49.2% 59.8% 35.6% 50.6% 15.7% 16.4% 8.8% 32.7% 5%

1.71.1

(1)... 104.6 136.4 657.7 72.0 77.5... 60.4 165.1 113.3 23.8 43.8... 273.7 406.4 595.1 205.6 416.4 (2)... 87.2 158.2 150.7 48.0 137.6... 525.9 866.1 1,516.8 349.4 675.3 (1) (2) 0.91.85.50.66.8 172

... 322 1 3... 412 1 4... 431 1 5 144289291 96174272 282387340 255.6362.9413.948.5% 38.0% 21.9% 3,9006,60016,80021,000 0.5% 0.91.85.56.8

25.0% 19.2% 13.4% 12.4%6.6% 4.8% 7.1% 4.1% (i) (ii)(iii)..................... 76.4 152.8133.592.9 5%

6090 165 5150,000

1.6 0.7 1.90.8

50% 2*2500 1*5000

901015 5158040 yaobo.com.cnce08b-ym/ ty0027998ghwestchinacement.com20061219129921093 20061219129921083 20070706130198354 ISO-9000 GB/T 17671-1999 GB/T 176-1 996

916.59 OHSAS18000 18

0.6 0.4 0.31.9 2.4 2.7 0.3 1214 479,000290,000

2,978... 387... 180... 1,870... 285... 172... 29... 55... 2,978 30.244.957.7 25.5 0.61.6 2.51.2 0.5 1.10.6

(1) (2) 221,650,482 81,852176 1,074 313,801

(1) (ii)(iii)(iv) ISO14001

21.341.874.7 75.4 142.7 30.539.2 65.025.2 15% 25% 1.0

7,802,142 10.7% 30,187,696 6.560841.6402 2.6916 7,802,142 10% 5%168,500,000

168,500,000 (i) (ii)

(i) (ii) (iii) (iv)

284384103 591516 Memery Crystal LLP NCB Stockbrokers Limited

(1) (2) (1) (2) (2)

(1) (1) (1) (1)

NCB Stockbrokers Limited

(2) 3A.19 (1)

(2)... Nineyou International Limited... 19... 12... 12 12

45.69% 5%

(i) (ii) (iii) (iv) (v) 19,393,77629.45% 50 50 19,393,776 29.45%

140,320,900 50%50% 80% 20% (i) (ii)

... 55... 46... 35... 49... 42... 55... 49... 61 55 BVI 25

46 28 35 Systematic Business Training Centre PricewaterhouseCoopers Consulting Sdn Bhd (Tan Choon Chye & Co.) BDO International BDO LondonPKF (UK) LLP ACCA 10

49 42 Sino Vanadium Inc. Taihua PLC 55 Kingston University of TechnologyKingston Polytechnic Curtin University of Technology 29 Sino Vanadium Inc. 49

28 Bull Capital Partners Ltd. 61 Concordia University... 50... 49... 45... 32... 41... 42... 31 50

49 17 45 32 41

42 19 31 Curtin University of Science and Technology 10 HSBC International Trustee Limited

20 4.5 8.04.71.1 4.88.64.7 1.1

3,733,000 2,978... 387... 180... 1,870... 285... 172... 29... 55... 2,978 30.244.957.7 25.5

0.61.6 2.51.2 0.5 1.10.6

10,000,000,000... 20,000,000 3,292,411,850... 6,584,823.70 D.

... 0.0382 0.0330 0.0354 0.0360... 0.0366 0.0318 0.0358 0.0353... 0.0546 0.0330 0.0516 0.0398... 0.0674 0.0486 0.0654 0.0585... 0.0812 0.0622 0.0694 0.0728... 0.1016 0.0680 0.0882 0.0855... 0.0986 0.0858 0.0940 0.0926... 0.0954 0.0870 0.0894 0.0902... 0.0928 0.0766 0.0772 0.0872... 0.0938 0.0776 0.0914 0.0880... 0.1355 0.0914 0.1217 0.1196... 0.1455 0.1197 0.1335 0.1326... 0.1345 0.0840 0.1015 0.1135... 0.1115 0.0925 0.0980 0.1019... 0.10 500.002 20,000,000 10,000,000,000 0.002 50

... 8,193,273 200,840... 1,066,320 25,107... 762,500 16,929... 8,167,180 186,929... 24,688,840 773,838... 3,024,711 116,563... 2,352,245 95,126... 6,022,268 270,243... 3,961,500 172,296... 4,126,930 151,701... 11,915,680 550,155... 2,131,393 91,576... 597,679 26,061... 1,181,361 41,943... 274,048 8,803... 1,320,436 31,599... 7,296,359 156,328... 4,006,273 99,590... 17,467,162 524,386... 2,620,748 62,784... 2,182,364 46,541... 14,226,980 331,685... 1,292,635 20,176... 17,471,425 222,071... 5,554,278 67,334... 8,626,230 106,655... 11,995,765 170,959... 9,206,977 183,748... 11,469,200 331,973... 12,165,974 442,466... 4,590,102 161,378... 9,548,026 417,287... 13,255,248 783,231... 10,252,507 751,253... 10,438,834 913,156... 7,364,919 686,450... 5,506,402 500,949

... 7,337,964 630,154... 7,625,728 652,344... 14,499,583 1,733,114... 14,271,220 1,884,631... 10,688,098 1,195,386... 4,423,320 451,182... [ ] [ ] 0.10 500.002 20,000,000 10,000,000,000 0.002 50

... 525,929 866,126 1,516,766 349,421 675,309... (350,165) (556,073) (878,087) (198,537) (429,710)... 175,764 310,053 638,679 150,884 245,599... (9,796) (12,018) (15,064) (4,745) (6,082)... (29,038) (55,224) (77,846) (16,778) (24,912)... 35,708 40,617 71,526 8,546 28,444... 2,273 (184) (1,057) 50 (513)... 174,911 283,244 616,238 137,957 242,536... 1,572 2,600 1,190 347 138... (168,451)... (26,210) (28,115) (73,830) (39,855) (58,582)... (24,638) (25,515) (241,091) (39,508) (58,444)... 150,273 257,729 375,147 98,449 184,092... (11,566) (44,687) (7,626) (29,798)... 150,273 246,163 330,460 90,823 154,294... 150,273 246,163 330,460 90,823 153,074... 1,220 150,273 246,163 330,460 90,823 154,294 (1)(2)... 2.35 3.84 5.12 1.42 2.36 (1)(3)... 2.33 3.83 5.07 1.42 2.34 (1) (2)

(3)... 1,017,177 1,645,759 2,861,090 3,430,125... 201,440 280,314 812,489 588,966... 77,287 457,294 491,451 904,343... 458,889 538,695 1,886,902 1,653,823... (257,449) (258,381) (1,074,413) (1,064,857)... 759,728 1,387,378 1,786,677 2,365,268... 682,441 930,084 1,270,226 1,434,705... 25,000 26,220... 170,969 323,092 619,676 229,236 261,572... (355,395) (667,923) (847,503) (250,590) (373,978)... 22,034 351,872 537,047 82,460 (180,128)... (162,392) 7,041 309,220 61,106 (292,534)... 192,389 29,997 37,038 37,038 346,258... 29,997 37,038 346,258 98,144 53,724

... 687 239 1,581 280 3,679 311 784 304 1,564 307... 1,709 211 1,863 227 1,392 268 416 265 686 264... 2 201 4 191 4 256 3 256 58 234... 2,398 3,448 5,075 1,204 2,308 (1)... 219 251 299 290 294 (2)... 219 251 299 290 293 (1) (i)(ii) (2) (i)(ii)

9.6 2.43.45.12.3 219 251 299 294 0.72.2 12.5 525.9 866.1 1,516.8 69.8% 174.9283.2 616.287.7% 150.3 246.2 330.5 48.3% 675.3242.5154.3 93.3% 75.8% 69.9%

35.1% 4 1.48.5 359.1669.1629.3374.8 120.9 64.7% 75.1%

219 251 299 294 239 280 311 307 211 227 268 264 0.71.63.71.6 28.6% 45.9% 72.5% 67.8% 31.2% 51.2% 75.4% 71.2%

21.4% 36.0% 31.2% 37.3% 290 492 434 429 559 24.8% 22.0% 20.7% 17.1% 0.40 0.40 0.43 0.480.0367

(1) (2) (3)... 308,707 866,126 1,035,071 567,491... 217,222 481,695 107,818... 525,929 866,126 1,516,766 675,309... 100,538 310,053 496,735 217,133... 75,227 141,944 28,466... 175,764 310,053 638,679 245,599... 32.6% 35.8% 48.0% 38.3%... 34.6% 29.5% 26.4%... 33.4% 35.8% 42.1% 36.4% (1) (2) (3) 217.2 75.234.6% 481.7141.9 7

107.828.5 26.4% 18.0 42.937.8 15% 25% 50% 525.9866.11,516.8675.3

2.43.45.11.22.3 3.68.5 219 251 299 % % %... 164.3 687 28.6 239 443.1 1,581 45.9 280 1,143.4 3,679 72.5 311... 361.2 1,709 71.3 211 422.3 1,863 54.0 227 372.4 1,392 27.4 268... 0.4 2 0.1 201 0.7 4 0.1 191 1.0 4 0.1 256... 525.9 2,398 100.0 866.1 3,448 100.0 1,516.8 5,075 100.0... 219 251 299... 219 251 299

% %... 238.1 784 65.1 304 480.8 1,564 67.8 307... 110.5 416 34.6 265 181.0 686 29.7 264... 0.9 3 0.2 256 13.5 58 (1) 2.5 234... 349.4 1,204 100.0 675.3 2,308 100.0... 290 294... 290 293 (1) (2) (i)(ii) (3) (i)(ii) 164.3 443.11,143.4 0.8 1.6 361.2 422.3 372.4 PO32.5R PO32.5R

PO32.5R 0.4 0.7 (i) (ii)... 119,141 34.0 22.7 49.7 144,379 26.0 16.7 41.9 284,543 32.4 18.8 56.1... 75,070 21.4 14.3 31.3 200,209 36.0 23.1 58.1 273,745 31.2 18.0 53.9... 86,859 24.8 16.5 36.2 122,160 22.0 14.1 35.4 182,062 20.7 12.0 35.9... 42,216 12.1 8.0 17.6 57,496 10.3 6.6 16.7 92,035 10.5 6.1 18.1... 17,010 4.9 3.2 7.1 17,486 3.1 2.0 5.1 28,534 3.2 1.9 5.6... 9,869 2.8 1.9 4.1 14,343 2.6 1.7 4.2 17,168 2.0 1.1 3.4... 350,165 100.0 66.6 146.0 556,073 100.0 64.2 161.3 878,087 100.0 57.9 173.0... 49,726 25.0 14.2 41.3 105,226 24.5 15.6 45.6... 71,472 36.0 20.5 59.4 160,252 37.3 23.7 69.4... 44,964 22.6 12.9 37.3 73,540 17.1 10.9 31.9... 20,097 10.1 5.8 16.7 58,111 13.5 8.6 25.2... 7,589 3.8 2.2 6.3 13,324 3.1 2.0 5.8... 4,690 2.4 1.3 3.9 19,257 4.5 2.9 8.3... 198,537 100.0 56.8 164.9 429,710 100.0 63.6 186.2

350.2556.1 878.1429.7 0.62.5 2.71.4 1.30.61.70.6 12.2 11.0 11.4 11.6 15.1 15.6 25.4 19.0 49.7 41.9 56.1 45.6

49.0 75.1200.2 273.771.5160.3 21.4% 36.0% 31.2% 36.0% 37.3% 31.3 58.1 53.9 59.4 69.4 59.419.7%69.4 86.9122.2182.1 73.5 24.8% 22.0% 20.7% 17.1% 8.353.422.0 2.4

18.415.2 36.2 35.4 35.9 31.9 175.8310.1638.7 245.633.4% 35.8% 42.1% 36.4% 43.2% 36.4% 16.7 25.2 % % % % %... 2,187 0.4 3,512 0.4 4,773 0.3 1,413 0.4 2,442 0.4... 5,232 1.0 5,030 0.6 3,773 0.3 1,675 0.5 1,983 0.3... 554 0.1 981 0.1 2,042 0.1 690 0.2 786 0.1... 1,823 0.3 2,495 0.3 4,476 0.3 967 0.3 871 0.1... 9,796 1.9 12,018 1.4 15,064 1.0 4,745 1.4 6,082 0.9

9.8 12.015.16.1 1.9% 1.4% 1.0% 0.9% % % % % %... 11,010 2.1 23,872 2.8 24,343 1.6 5,302 1.5 9,712 1.4... 5,231 1.0 5,291 0.6 12,116 0.8 3,050 0.9 6,757 1.0... 2,641 0.5 6,888 0.8 11,068 0.7 3,964 1.1 4,759 0.7... 3,034 0.6 5,573 0.6 7,727 0.5 1,618 0.5 1,267 0.2... 7,122 1.3 13,600 1.6 22,590 1.5 2,844 0.8 2,418 0.4... 29,038 5.5 55,224 6.4 77,846 5.1 16,778 4.8 24,912 3.7

29.055.2 77.824.9 5.5% 6.4% 5.1% 3.7%... 30,528 39,167 65,035 6,683 25,217... 5,180 1,450 6,491 1,863 3,227... 35,708 40,617 71,526 8,546 28,444... 2,981 1,153 1,344... (689) (1,499) (825) (5) (390)... (425) (74) (2,733) (417)... 406 236 1,157 55 294... 2,273 (184) (1,057) 50 (513)... 37,981 40,433 70,469 8,596 27,931 30.5 39.265.025.2

1.41.72.81.2 290.3 399.4754.1287.8 55.2% 46.1% 49.7% 42.7% 5.2 1.56.53.2 2.3 0.21.10.5 1.62.61.2 0.1 Credit Suisse International 26.228.1242.358.6 168.5 60.0 168.5 58.6

... 150,273 257,729 375,147 98,449 184,092 (1)... 49,590 64,432 93,787 24,612 46,023 454 614 1,656... (53,750) (59,654) (101,429) (26,688) (28,252)... (3,772) (4,355) (2)... 4,160 2,536 56,070 9,702 10,371... 7,570... 11,566 44,687 7,626 29,798 (1) 33% 25% 25% 25% (2) 11.644.729.8 4.5% 11.9% 16.2% 150.3246.2 330.5154.328.6% 28.4% 21.8% 22.8%6.6% 168.5

BVI 25% 50%

16 25% 15% 25% 10%

5%............ 20 8 5 12

(a) (b)

60 Credit Suisse International 19% 30

(i)(ii) (iii)

... 525,929 866,126 1,516,766 349,421 675,309... (350,165) (556,073) (878,087) (198,537) (429,710)... 175,764 310,053 638,679 150,884 245,599... (9,796) (12,018) (15,064) (4,745) (6,082)... (29,038) (55,224) (77,846) (16,778) (24,912)... 37,981 40,433 70,469 8,596 27,931... (24,638) (25,515) (241,091) (39,508) (58,444)... 150,273 257,729 375,147 98,449 184,092... (11,566) (44,687) (7,626) (29,798)... 150,273 246,163 330,460 90,823 154,294

349.4 675.393.3% 1.2 2.391.7% 290294 1.4% 198.5 429.7116.4% 56.8%63.6% 36.0% 37.3% 10.1%13.5% 150.9 94.7245.6 62.8% 43.2% 36.4% 4.7 6.128.2% 1.4 2.472.8%0.7

0.813.9% 1.4% 0.9% 16.8 24.948.5% 5.3 9.7 83.2%3.1 6.8121.5% 4.0 4.820.1% 4.8% 3.7% 8.6 27.9224.9% 0.3 0.1 39.9 58.6 55.0 7.5 98.4 184.1 87.0%

7.6 29.8 25%15% 90.8 154.369.9% 866.11,516.8 75.1% 3.45.150.0% 251 29919.1% 2.0 556.1878.1 57.9% 64.2% 57.9%36.0% 31.2% 22.0% 20.7%

310.1 328.6 638.7106.0% 35.8%42.1% 12.0 15.125.8% 1.4% 1.0%3.54.8 37.1% 5.03.824.0% 1.0 2.0100.0% 55.277.8 40.9% 6.4% 5.1%23.91.7% 24.3 5.312.1128.3% 6.911.160.9% 40.4 30.1 70.5 74.5%

2.61.2 28.1242.3 Credit Suisse International60.0Credit Suisse International 168.5 257.7 375.145.6% 11.644.7 0.0% 7.5% 246.2 84.3 330.534.2% 525.9866.1 64.7% 2.43.441.7% 219251 14.6%

350.2556.1 58.8% 66.6%64.2% 21.4%36.0% 175.8 134.3 310.176.4% 33.4%35.8% 9.822.4% 12.0 1.9% 1.4% 5.25.0 3.8% 2.23.5 59.1% 0.61.066.7% 29.055.2 90.3% 5.5% 6.4% 11.023.9 117.3% 5.25.3 1.9% 2.6 6.9165.4%

38.0 2.4 40.46.3% 1.62.6 1.6 26.228.1 7.3% 8.0%15.0% 150.3 257.771.5% 11.6 4.5% 15% 150.3 95.9 246.263.8%

... 170,969 323,092 619,676 229,236 261,572... (355,395) (667,923) (847,503) (250,590) (373,978)... 22,034 351,872 537,047 82,460 (180,128)... (162,392) 7,041 309,220 61,106 (292,534)... 192,389 29,997 37,038 37,038 346,258... 29,997 37,038 346,258 98,144 53,724... 221,350 350,095 724,607 160,035 306,107... (25,205) (386) (27,869) 96,166 29,140... 196,145 349,709 696,738 256,201 335,247... (25,176) (26,617) (57,975) (21,540) (40,954)... (19,087) (5,425) (32,721)... 170,969 323,092 619,676 229,236 261,572

171.0 (i)150.3(ii) 56.0 (iii) 44.9 24.6(i)30.3(ii) 29.2 (iii)21.7 323.1 (i)257.7(ii) 64.425.5 (iii) 61.1(i)35.9(ii) 14.7 (iii)11.0 619.7 (i) 375.1(ii) 103.1241.1 (iii) 59.6(i)52.6 (ii)29.9 229.2 (i)98.4(ii) 21.839.5 (iii) 195.0(i) 58.8(ii)22.9 (iii) 17.1 261.6 (i) 184.1(ii) 58.4(iii) 62.9 (iv) 108.3(i) 62.6(ii)14.7

355.4 345.5 667.9 603.2 847.5(i)600.0 (ii)120.9(iii) 100.0 250.6250.9 374.0374.8 22.0 236.0198.7 351.9 635.1271.6 537.0 1,074.6 356.0206.5

82.5 180.0 103.0 180.1 598.4132.8 529.8... 556,656 449,035 558,336 502,988... 345 484 74... 533 217 209... 504 496 446... 1,382 1,197 729

6... 140,000 168,000 626,563 332,829 310,929 6 12... 115,400 85,400 540,505 386,829 468,729 12... 28,000 407,069 204,596 639,654 643,256 25... 35,800 123,462 85,682 87,727... 319,200 660,469 1,495,126 1,444,994 1,510,641 6... 16,953 15,784 92,800 6 12... 29,000 12... 29,000 18,000 18,000 25... 3,000 3,000 3,000... 16,953 15,784 153,800 21,000 21,000... 336,153 676,253 1,648,926 1,465,994 1,531,641 1,648.91,466.01,531.6 1,495.11,445.01,510.6 153.8150.8

676.3 660.5 15.8 336.2319.2 17.0... 319,200 289,200 794,800 770,666... 371,269 700,326 674,328... 319,200 660,469 1,495,126 1,444,994... 7.78% 8.44% 7.27% 7.12%... 20.23% 12.94% 6.64% 80% 20%340.3 200.0 140.3

365.3200.0 49.2 150.8 66.410.12% 66.48.43%18.0 3.0%49.2 132.8 150.8 18.0 18.0 66.4 180.7 36.1 32.0 59.9 1,442.8

1,531.6 1,510.621.0 (i)310.9 468.7 (ii) 643.3 50.0 50.0(iii)87.7 21.018.0 3.0 1.0 2.0 330.0 50.050.0 19,393,776 19,393,776

1,825.1 58.1 359.1669.1750.2 374.8 120.9 2,165

... 45,653 81,507 128,979 143,633 154,041... 101,454 125,770 317,670 382,194 390,784... 29,997 37,038 346,258 53,724 48,402... 24,336 35,999 19,582 9,415 9,415... 201,440 280,314 812,489 588,966 602,642... 186,536 269,511 559,395 898,450 802,824... 38,639 35,715 41,490... 272,353 269,184 1,288,868 719,658 (1) 779,700 (1)... 458,889 538,695 1,886,902 1,653,823 1,624,014... 257,449 258,381 1,074,413 1,064,857 1,021,372 (1) 450.0 300.0 257.4258.4 1,074.4 1,064.9 269.2 1,288.9(i) 50.0341.4 (ii) Credit Suisse International55.0

41.3281.7 (iii) 330.066.0(iv) 478.0 (v) 121.8 Credit Suisse International 330.0 50.0 50.030.0 50.0 50.0 330.0 36110% 111,355 3,366 (i)140.3 50%50% (ii)52.0 (iii) 18.0

300.0 50.0 50% 55.0 50.0(i)(ii) 5% 7%500,000 500,000 1,064.9 589.0 382.2143.653.7 1,653.8 898.5719.7 35.7 602.6 57.8 1,624.0 779.7300.0 1,021.4 1,288.9 779.7

12 (1)... 0.44 0.52 0.43 0.37 (2)... 29% 41% 50% 49% (1) (2) 0.44 0.52 0.43 0.37 0.440.52 458.9 538.7201.4 280.3 0.52 0.43 330.0 538.7 1,886.9 280.3 812.5

0.43 0.37 29% 41% 50% 49% 29%41% 41% 50% 49% (i)(ii) (iii)(iv) 1,531.6 659 1,506

... 28,856 51,719 81,751 87,346... 10,515 18,585 23,618 40,943... 8,411 13,332 25,739 17,473... 47,782 83,636 131,108 145,762... (2,129) (2,129) (2,129) (2,129)... 45,653 81,507 128,979 143,633 (1)(2)... 36 42 44 38 (1) 365 (2) 120 36 42 42 44 38 45.7 81.5 81.5 129.0

129.0 143.6 105.482%... 56,006 69,291 95,676 92,598... (2,800) (3,465) (4,881) (4,881)... 53,206 65,826 90,795 87,717 (1)(2)... 28 25 19 16 (1) 365 (2) 120 60 90 53.265.890.8 87.728 2519 16

90... 42,209 45,340 64,220 63,518 90180... 4,189 12,651 9,198 15,598 180360... 3,801 4,880 6,947 6,906 360720... 1,607 2,923 11,365 3,546 720... 4,200 3,497 3,946 3,030 56,006 69,291 95,676 92,598 1 90... 5,331 15,578 12,731 12,286 91 180... 4,290 6,742 6,723 11,934 181 360... 1,342 4,091 12,045 3,482 360720... 674 507 6,102 720... 1,361... 12,998 26,918 31,499 33,804 23.2% 38.8% 32.9% 36.5% 1.80.71.4 68.9 76%

... 24,929 28,550 154,605 139,675... 18,969 25,675 66,900 144,452... 4,350 5,719 5,370 10,350 100.0 24.9 28.6 154.6 100.0 30.0 30.0 30.0 30.0 100.0 130.0 154.624.62.3 9.4%

25.7 66.9 66.9 144.5 100% 5.4... (4,007) (2,800) (3,465) (4,881)... (1,776) (691) (1,416)... 26... 2,983... (2,800) (3,465) (4,881) (4,881)... (191) (414) (370)... (191) (486) (190)... 263 234... (191) (414) (370) (370)

... 57,532 83,802 185,950 301,577 (1)(2)... 58 46 56 68 (1) 365 (2) 120 45 60 57.5 83.8 186.0301.6 186.0 61.2% 301.6 120.9 65%45 60 58 46 5668 60.0

(i) (ii) 56 68... 15,000 15,000... 70,161... 36,050 823... 6,000 6,000 6.000... 20,057 22,959 56,920 91,270... 4,894 9,219 17,204 15,513... 975 1,932 3,007 2,029... 16,000 32,021 32,288 19,897... 20,771 43,323 141,343 434,062... 51,307 55,255 10,472 27,279... 129,004 185,709 373,445 596,873 43.3 141.3 434.1 20.8 434.1 43.3 141.3 434.1 70.2

36.1 6.0 25 36.10.8 65.164.4 45.319.8 45.345.3 19.819.1

9110 25.527.946.4 45.7 32.9 206.4 (A) 4.8% 5.9% (0.7)%

... 101,454 24,598 24,336 150,388... 5,391 5,391... 8 8... 125,744 32,834 21,340 179,916... 445 14,659 15,104... 26 3,755 3,781... 5 6... 303,077 318,497 5,010 626,584... 22,380 14,572 36,952... 14,593 5,378 19,971... 3 3... 355,751 50,693 9,415 415,859... 2,766 2,766... 26,443 264 26,707... 1 1

... 185,029 336,153 13,487 534,669... 1,507 1,507...... 261,295 304,984 17,317 583,596... 404,177 404,177... 8,216 8,216...... 548,605 948,600 117,049 1,614,254... 3,007 700,326 700,326... 7,784 10,790...... 885,637 791,666 143,539 1,820,841... 674,328 674,328... 12,813 12,813... 1% 3,562,000 1% 6,634,000

7.78% 8.44% 7.27% 7.12% 20.23% 12.93% 6.64% 11.82% 11.64% 9.16% 3.09% 10% 2.22.62.62.0

1 1 2 2 5 5... 272,353 28,000 35,800 336,153... 173,355 173,355... 1,900 11,100 487 13,487 455,780 29,900 46,900 487 522,995... 269,184 445,876 715,060... 46,593 46,593... 241,379 241,379... 3,700 7,400 487 11,587 510,563 496,169 7,400 487 1,014,619... 1,288,868 254,888 135,000 1,678,756... 532,421 532,421... 73,860 3,700 487 78,047 1,821,289 328,748 138,700 487 2,289,224... 719,658 662,113 102,000 1,483,771... 878,553 878,553... 101,993 3,700 105,693 1,598,211 764,106 105,700 2,468,017

2.72.7 0.7 0.9 1.1

(i) (ii) 424.6687.9 263.3 168.5 12 13.1313.19 13.17 50.0 19,393,776 13.1313.19

1,037.1

1.1 2.2... 1.1 330-380 164 166-216... 1.1 370-420 57 303-363 409360 511450

4.5 2.2 0.8

2.8 4.0 1.1 3.7 1.4 50.0 (B) 50.025.0 (C)

3.340 [] I III II1 PKF (UK) LLP PricewaterhouseCoopers LLP II1

3.340 I III I2 2410 II2

I.... 6 961,507 1,540,533 2,611,502 3,128,079... 7 17,806 76,521 124,571 178,412... 8 25,500 27,907 46,373 45,681... 9 65,104 64,413... 10 12,364 798 13,540 13,540 1,017,177 1,645,759 2,861,090 3,430,125... 12 45,653 81,507 128,979 143,633... 13 101,454 125,770 317,670 382,194... 14 29,997 37,038 346,258 53,724... 14 24,336 35,999 19,582 9,415 201,440 280,314 812,489 588,966... 1,218,617 1,926,073 3,673,579 4,019,091... 15 96,811 96,811 97,623 98,634... 15 662,636 662,636 672,775 687,922... 16 5,228 6,708 5,439 686... 17 (341,304) (341,304) (341,304) (341,304)... 17 36,420 63,163 118,140 118,140... 18 222,650 442,070 717,553 870,627 682,441 930,084 1,270,226 1,434,705... 25,000 26,220... 682,441 930,084 1,295,226 1,460,925

... 19 63,800 407,069 360,058 746,336... 20 32,908... 21 6,265 6,389... 10 8,079 8,079... 22 13,487 17,317 117,049 143,539 77,287 457,294 491,451 904,343... 23 186,536 269,511 559,395 898,450... 38,639 35,715... 19 272,353 269,184 1,288,868 719,658 458,889 538,695 1,886,902 1,653,823... 536,176 995,989 2,378,353 2,558,166... 1,218,617 1,926,073 3,673,579 4,019,091... (257,449) (258,381) (1,074,413) (1,064,857)... 759,728 1,387,378 1,786,677 2,365,268

... 11 447,285 447,285 447,285 447,285... 13 287,361 658,673 741,283 716,807... 3,026 44,078 44,078... 14 5,391 4,200 27,758 2,958... 14 14,659 14,572 292,752 680,558 827,691 763,843... 740,037 1,127,843 1,274,976 1,211,128... 15 96,811 96,811 97,623 98,634... 15 662,636 662,636 672,775 687,922... 16 5,228 6,708 5,439 686... 18 (26,145) (50,705) (211,977) (263,254)... 738,530 715,450 563,860 523,988... 19 371,269 77,258 503,671... 20 32,908 404,177 77,258 503,671... 1,507 8,216 10,790 12,811... 19 623,068 170,658 1,507 8,216 633,858 183,469... 1,507 412,393 711,116 687,140... 740,037 1,127,843 1,274,976 1,211,128... 291,245 672,342 193,833 580,374... 738,530 1,119,627 641,118 1,027,659

... 5 525,929 866,126 1,516,766 349,421 675,309... 24 (350,165) (556,073) (878,087) (198,537) (429,710)... 175,764 310,053 638,679 150,884 245,599... 24 (9,796) (12,018) (15,064) (4,745) (6,082)... 24 (29,038) (55,224) (77,846) (16,778) (24,912)... 26 35,708 40,617 71,526 8,546 28,444... 27 2,273 (184) (1,057) 50 (513)... 174,911 283,244 616,238 137,957 242,536... 28 1,572 2,600 1,190 347 138... 28 (168,451)... 28 (26,210) (28,115) (73,830) (39,855) (58,582)... (24,638) (25,515) (241,091) (39,508) (58,444)... 150,273 257,729 375,147 98,449 184,092... 29 (11,566) (44,687) (7,626) (29,798)... 150,273 246,163 330,460 90,823 154,294...... 150,273 246,163 330,460 90,823 154,294... 150,273 246,163 330,460 90,823 153,074... 1,220... 30(a) 2.35 3.84 5.12 1.42 2.36... 30(b) 2.33 3.83 5.07 1.42 2.34...

... 96,191 655,370 (341,304 ) 4,646 20,463 88,334 523,700 523,700... 18 150,273 150,273 150,273... 18 15,957 (15,957 )... 1,962 1,962 1,962... 15 620 7,266 (1,380 ) 6,506 6,506... 96,811 662,636 (341,304 ) 5,228 36,420 222,650 682,441 682,441... 96,811 662,636 (341,304 ) 5,228 36,420 222,650 682,441 682,441... 18 246,163 246,163 246,163... 18 26,743 (26,743 )... 1,480 1,480 1,480... 96,811 662,636 (341,304 ) 6,708 63,163 442,070 930,084 930,084... 96,811 662,636 (341,304 ) 6,708 63,163 442,070 930,084 930,084... 18 330,460 330,460 330,460... 18 54,977 (54,977 )... 1,161 1,161 1,161... 15 812 10,139 (2,430 ) 8,521 8,521... 35 25,000 25,000... 97,623 672,775 (341,304 ) 5,439 118,140 717,553 1,270,226 25,000 1,295,226... 18 153,074 153,074 1,220 154,294... 285 285 285... 15 1,011 15,147 (5,038) 11,120 11,120... 98,634 687,922 (341,304) 686 118,140 870,627 1,434,705 26,220 1,460,925... 96,811 662,636 (341,304) 6,708 63,163 442,070 930,084... 90,823 90,823... 328 328... 143 1,669 (317) 1,495... 96,954 664,305 (341,304) 6,719 63,163 532,893 1,022,730

... 31 196,145 349,709 696,738 256,201 335,247... (25,176) (26,617) (57,975) (21,540) (40,954)... (19,087) (5,425) (32,721)... 170,969 323,092 619,676 229,236 261,572... 31 2,172 138 1,899 684... 1,572 1,023 803 340 138... 34 (120,922)... 13 (100,000)... (345,515) (603,246) (599,998) (250,930) (374,800)... (1,124) (61,731) (27,398)... 8 (12,500) (4,107) (1,807)... 9 (80)... (355,395) (667,923) (847,503) (250,590) (373,978)... 6,506 8,521 1,495 11,120... 231,850 625,104 1,066,205 180,000 529,832... 4,162 10,031 8,374 911... 14 (21,768) (11,663) 16,417 4,221 10,167... (162,354) (260,400) (302,848) (103,000) (598,447)... (36,362) (11,200) (53,167) (1,167) (132,800)... 20 (206,455)... 22,034 351,872 537,047 82,460 (180,128)... (162,392) 7,041 309,220 61,106 (292,534)... 14 192,389 29,997 37,038 37,038 346,258... 14 29,997 37,038 346,258 98,144 53,724

II. 1. 47 Esplanade, St Helier, Jersey JE1 0BD 4 A1903 % % (a) 7,800 100% BVI 100 100% (b) 100% * 530,000,000 100% * 100,000,000 100% * 345,000,000 100% * 135,000,000 100% * 140,000,000

% % 100% * 35,000,000 100% * 21,000,000 80% 75,000,000 (c) 100% * 20,000,000 2. 2.1 4

19... 9... 257,449,000 258,381,000 1,074,413,000 1,064,857,000 18 2.2 (a)

3 3 2.9 (b) 27 2.3

2.4 (a) (b) 2.5 (a) (b)

2.9 (a) (b) 2.6 2.7

2.8 (a) (b) (c) 2.9

2.10 12 2.12 2.13 2.14 2.11 2.12 2.13 2.14

2.15 2.16 2.17 2.18

2.19 2.20 (a)

(b) (c) 2.21 2.22

(a) (b) 2.23 2.24 2.25 3.

3.1 (a) (i) 1% 3,562,000 1% 6,634,000 1% 6,742,000 (ii) 19 19

10% 2,214,000 2,567,000 2,649,000 2,042,000 (b) (c)

1 1 2 2 5 5... 272,353 28,000 35,800 336,153... 173,355 173,355... 1,900 11,100 487 13,487 445,708 29,900 46,900 487 522,995... 269,184 445,876 715,060 46,593 46,593... 241,379 241,379... 3,700 7,400 487 11,587 510,563 496,169 7,400 487 1,014,619... 1,288,868 254,888 135,000 1,678,756... 532,421 532,421... 73,860 3,700 487 78,047 1,821,289 328,748 138,700 487 2,289,224... 719,658 662,113 102,000 1,483,771... 878,553 878,553... 101,993 3,700 105,693 1,598,211 764,106 105,700 2,468,017 3.2

19 20... 336,153 709,161 1,648,926 1,465,994 14... (54,333) (73,037) (365,840) (63,139)... 281,820 636,124 1,283,086 1,402,855... 682,441 930,084 1,295,226 1,460,925... 964,261 1,566,208 2,578,312 2,863,780... 29% 41% 50% 49% 60 19 20 5033019 3.3

4. (a) (b) (c) 2.8 (d)

(e) (f) (g) (h) 21 (i) 5.

6.... 171,305 4,503 2,094 222,250 20,066 300,461 720,679... (39,452) (1,108) (945) (55,973) (2,302) (99,780)... 131,853 3,395 1,149 166,277 17,764 300,461 620,899... 131,853 3,395 1,149 166,277 17,764 300,461 620,899... 167,324 304,653 9,389 (481,366)... 263 7,795 3,096 3,568 17,180 356,409 388,311... (1,356) (381) (537) (323) (2,597)... (13,199) (1,153) (693) (28,873) (1,188) (45,106)... 284,885 9,656 3,015 445,302 43,145 175,504 961,507... 336,670 11,296 4,596 529,031 46,635 175,504 1,103,732... (51,785) (1,640) (1,581) (83,729) (3,490) (142,225)... 284,885 9,656 3,015 445,302 43,145 175,504 961,507... 284,885 9,656 3,015 445,302 43,145 175,504 961,507... 8,261 31 60,456 (68,748)... 796 2,231 754 6,363 15,510 616,183 641,837... (183) (29) (212)... (16,597) (1,591) (844) (41,014) (2,553) (62,599)... 277,345 10,113 2,956 471,078 56,102 722,939 1,540,533... 345,727 13,103 5,382 595,809 62,145 722,939 1,745,105... (68,382) (2,990) (2,426) (124,731) (6,043) (204,572)... 277,345 10,113 2,956 471,078 56,102 722,939 1,540,533

... 277,345 10,113 2,956 471,078 56,102 722,939 1,540,533 34... 69,827 1,905 3,809 52,308 11,500 1,126 140,475 35... 176,591 1,869 4,827 153,939 337,226... 291,232 487,695 85,923 (864,850)... 1,108 9,902 7,813 5,319 7,878 665,662 697,682... (1,962) (2,093) (65) (512) (4,632)... (15,404) (2,061) (2,548) (72,902) (6,867) (99,782)... 798,737 19,635 16,792 1,096,925 154,536 524,877 2,611,502... 874,493 23,511 21,742 1,293,466 167,446 524,877 2,905,535... (75,756) (3,876) (4,950) (196,541) (12,910) (294,033)... 798,737 19,635 16,792 1,096,925 154,536 524,877 2,611,502... 798,737 19,635 16,792 1,096,925 154,536 524,877 2,611,502... 148,105 386 23,577 198,335 33,316 (403,719)... 121 2,890 3,278 8,826 563,669 578,784... (1,101) (1,101)... (17,404) (1,053) (3,422) (37,956) (1,271) (61,106)... 929,559 20,757 40,225 1,266,130 186,581 684,827 3,128,079... 1,022,719 25,686 48,597 1,500,627 200,762 684,827 3,483,218... (93,160) (4,929) (8,372) (234,497) (14,181) (355,139)... 929,559 20,757 40,225 1,266,130 186,581 684,827 3,128,079 513,000 39,607,000 40,789,000 10,017,00028 12% 19% 13% 9% 28 430,296,000 389,109,000 1,627,328,000 1,423,384,000 19

... 42,307 57,496 92,035 17,786 58,111... 2,346 4,821 7,251 3,175 2,841 (a)... 453 282 496 68 154 45,106 62,599 99,782 21,029 61,106 (a)

7.... 15,068... (833)... 14,235... 14,235... 3,775... (204)... 17,806... 18,843... (1,037)... 17,806... 17,806... 59,081... (366)... 76,521... 77,924... (1,403)... 76,521... 76,521... 27,397 34... 6,924 35... 15,165... (1,436)... 124,571... 127,410... (2,839)... 124,571... 124,571... 54,375... (534)... 178,412... 181,785... (3,373)... 178,412

7,556,00041,527,000 38,763,00019 3650 8....... 25,500...... 25,500... 25,500...... 25,500... 25,500... 4,107... (1,700)... 27,907... 29,607... (1,700)... 27,907... 27,907... 1,807 34... 5,250 35... 12,930... (1,521)... 46,373... 49,594... (3,221)... 46,373... 46,373... (692)... 45,681... 49,594... (3,913)... 45,681

1040 25,500,000 9.... 45 45... (45) (45)......... 80 80 34... 45,274 20,610 65,884... (859) (1) (860)... 45,274 19,751 79 65,104... 45,274 20,610 80 65,964... (859) (1) (860)... 45,274 19,751 79 65,104... 45,274 19,751 79 65,104... (687) (4) (691)... 45,274 19,064 75 64,413... 45,274 20,610 80 65,964... (1,546) (5) (1,551)... 45,274 19,064 75 64,413 20,610,000 10 10

10. 12... 8,874 8,874 12... 12,364 798 4,666 4,666 12,364 798 13,540 13,540 12... (7,366) (7,366) 12... (713) (713) (8,079) (8,079) (a)... 11,342 1,022 12,364... (11,342) (224) (11,566)... 798 798... 2,679 9,357 706 12,742... 3,477 9,357 706 13,540 (a)

... 34... (8,376)... 297... (8,079) 11.... 447,285 447,285 447,285 447,285 BVI17 12.... 28,856 51,719 81,751 87,346... 10,515 18,585 23,618 40,943... 8,411 13,332 25,739 17,473 47,782 83,636 131,108 145,762... (2,129) (2,129) (2,129) (2,129)... 45,653 81,507 128,979 143,633 281,968,000 467,713,000 742,513,000 348,088,000

13.... 4,350 5,719 5,370 10,350 (a)... 56,006 69,291 95,676 92,598 (c).. (2,800) (3,465) (4,881) (4,881) 57,556 71,545 96,165 98,067 (b)... 25,120 28,964 54,975 40,045 (d)... 100,000 100,000 (c).. (191) (414) (370) (370) 24,929 28,550 154,605 139,675... 18,969 25,675 66,900 144,452... 101,454 125,770 317,670 382,194 (a) 90... 42,209 45,340 64,220 63,518 90180... 4,189 12,651 9,198 15,598 180360... 3,801 4,880 6,947 6,906 360720... 1,607 2,923 11,365 3,546 720... 4,200 3,497 3,946 3,030 56,006 69,291 95,676 92,598 60 90 2,800,000 3,465,000 4,881,000 4,881,000

40,208,000 38,908,000 59,296,000 53,913,000 1 90... 5,331 15,578 12,731 12,286 91 180... 4,290 6,742 6,723 11,934 181 360... 1,342 4,091 12,045 3,482 360 720... 674 507 6,102 720... 1,361 12,998 26,918 31,499 33,804 (b)... 11,705 20,307 17,839 30,264 35(c)... 30,000... 13,415 8,657 7,136 9,781 25,120 28,964 54,975 40,045 (c)... (4,007) (2,800) (3,465) (4,881)... (1,776) (691) (1,416)... 26... 2,983... (2,800) (3,465) (4,881) (4,881)

... (191) (414) (370)... (191) (486) (190)... 263 234... (191) (414) (370) (370) (d) 100% 100 100 (a)... 287,361 658,647 726,691 690,323... 26 14,592 26,484 287,361 658,673 741,283 716,807

(a) BVI... 189,143 410,063 417,866 417,873... 98,218 248,584 308,825 272,450 287,361 658,647 726,691 690,323 14. (a)... 54,333 73,037 365,840 63,139 (b)... (24,336) (35,999) (19,582) (9,415)... 29,997 37,038 346,258 53,724... 24,598 32,832 318,497 50,693... 5,391 3,755 5,378 2,766... 445 22,380 264... 8 6 3 1 29,997 37,038 346,258 53,724... 24,336 21,340 5,010 9,415... 14,659 14,572 24,336 35,999 19,582 9,415

(a)... 5,391 18,859 42,330 2,958 (b)... (14,659) (14,572)... 5,391 4,200 27,758 2,958... 5,391 3,755 5,378 2,766... 445 22,380 192 5,391 4,200 27,758 2,958 (a) (b) (c) 1.26% 1.61% 0.37% 0.20%

15.... 63,688 96,191 655,370 751,561... 425 620 7,266 7,886... 64,113 96,811 662,636 759,447... 749 812 10,139 10,951... 64,862 97,623 672,775 770,398... 986 1,011 15,147 16,158... 65,848 98,634 687,922 786,556 10,000 10,000 1 110 10 199,900,000 1010,000 20,000,000BVI42,735,965 20,952,381 10 2000.1 BVI 1.05 0.1 50 0.002

16.... 1.05 2,070 1.05 1,645 1.13 1,965 1.22 1,466... 1.56 320 1.42 250... 1.05 (425) 1.05 (749) 1.10 (986)... 1.05 1,645 1.13 1,965 1.22 1,466 1.49 480 1.61 2.156.50... 1.05 849 849... 1.05 100... 1.05 796 796 796... 1.56 320 320 230... 1.42 250 250 1,645 1,965 1,466 480

0.26 0.64... 0.96 1.39... 1.56 1.42... 42% 51%... 0% 0%... 5 5... 4.09% 2.55% 17. BVI3 BVI BVIBVI42,735,965 10BVI BVI 10% 50% 25%

10% 5% [2008]1 18.... 88,334 222,650 442,070 442,070 717,553... 150,273 246,163 330,460 110,904 153,074 (a)... (15,957) (26,743) (54,977)... 222,650 442,070 717,553 552,974 870,627... (5,114) (26,145) (50,705) (50,705) (211,977)... (21,031) (24,560) (161,272) (13,340) (51,277)... (26,145) (50,705) (211,977) (64,045) (263,254) (a)

19. (a)... 88,800 430,069 704,522 994,994 (b)... 32,000 21,000... (25,000) (23,000) (376,464) (269,658) 63,800 407,069 360,058 746,336 (a)... 230,400 230,400 790,604 450,000 (b)... 16,953 15,784 121,800... 25,000 23,000 376,464 269,658 272,353 269,184 1,288,868 719,658... 336,153 676,253 1,648,926 1,465,994 (a)... 319,200 289,200 745,600 770,666 35... 49,200 60(iii)... 371,269 358,921 50(iv)... 341,405 339,496 50(v)... 334,832 319,200 660,469 1,495,126 1,444,994

(i)... 319,200 289,200 478,000 450,000 (ii)... 316,800 320,666 (iii)... 371,269 358,921 (iv)... 341,405 339,496 (v)... 334,832 319,200 660,469 1,495,126 1,444,994 (i) (ii) 437,852,000 389,109,000 681,764,000 496,091,0007 6 330,000,000 987,091,000 966,056,000 7 6 100% (iii) 60,000,000 20100% (iv) 50,000,000 19,393,776 v 50 6050 60 (a) BVI(b)BVI (c)(d)bvi (e)(f)

19,393,776 6... 140,000 168,000 626,563 332,829 6 12... 115,400 85,400 540,505 386,829 1 2... 28,000 407,069 204,596 639,654 2 5... 35,800 123,462 85,682 319,200 660,469 1,495,126 1,444,994 (i)... 371,269 77,258 503,671 (ii)... 63,800 35,800 264,000 221,665 63,800 407,069 328,058 725,336 (i)... 371,269 114,819 503,671 (ii)... 63,800 35,800 250,800 221,665 63,800 407,069 365,619 725,336 (i) (ii) 60,000,000 20

... 7.78% 8.44% 7.27% 7.12%... 20.23% 12.94% 6.64% (b)... 16,953 15,784 35... 150,800 18,000... 3,000 3,000 16,953 15,784 153,800 21,000 6 (i)... 16,953 15,784 92,800 6 12 (i)... 29,000 1 2... 29,000 18,000 2 5... 3,000 3,000 16,953 15,784 153,800 21,000 11.82% 11.64% 9.16% 3.09%

20. 60 60 13.5%50% 24 50% 36 30 30 50% (i) (ii) (1) 2.69167,802,142 2015% 36 (2)

(3) 6019% 30 60 30,188,000 206,435,000 60 606030 60 53,106,000 4,414,000 3060 39

60 75% 60 60... 371,269 358,922... 32,908 60... 20.23% 20.23%... 17.78% 5 21....... 6,265... 6,265 28... 124... 6,389

22. (a)... 13,000 11,100 7,400 7,400 (b)... 5,730 39,002 37,846 35(b)... 70,160 98,293... 487 487 487 13,487 17,317 117,049 143,539 (a) (b) 23.... 15,000 15,000... 57,532 83,802 185,950 301,577... 20,771 43,323 141,343 434,062 35(b)... 70,161 34(b)... 36,050 823... 6,000 6,000 6,000... 20,057 22,959 56,920 91,270... 4,894 9,219 17,204 15,513... 975 1,932 3,007 2,029 (a). 16,000 32,021 32,288 19,897... 51,307 55,255 10,472 27,279 186,536 269,511 559,395 898,450

90... 41,663 56,622 147,187 247,076 90180... 6,825 9,198 21,926 51,309 180360... 4,012 9,821 12,851 825 360720... 1,365 8,161 3,967 2,324 720... 3,667 19 43 57,532 83,802 185,950 301,577 (a) (i)... 11,065 24,453 20,433 3,461... 4,935 7,568 11,855 16,436 16,000 32,021 32,288 19,897 (i) 17%

24. 12... (13,519) (12,991) (17,440) (17,032) (9,059)... 133,044 157,641 303,015 67,165 114,618 25... 30,207 44,870 57,653 14,304 25,479 6 7 8 9... 44,857 64,383 103,103 21,750 62,869... 162,443 323,063 456,938 117,187 244,349... 5,232 5,030 3,773 1,674 1,983... 3,765 6,259 7,500 2,978 3,668... 1,644 2,669 2,959 916 1,271 13... (1,016) 914 1,372... 6,717 7,937 17,190 3,855 7,150... 1,170 1,480 1,898 649 108... 6,727 11,805 16,220 3,929 4,833... 194 488 1,556 719 58... 7,534 9,767 15,260 1,966 3,377... 388,999 623,315 970,997 220,060 460,704 25.... 27,262 38,111 51,685 12,363 20,582... 577 997 1,983 167 871... 32 632 552 120 289 (a)... 1,962 1,480 976 266 226... 374 3,650 2,457 1,388 3,511... 30,207 44,870 57,653 14,304 25,479

788 1,353 2,606 2,675 (a) (b) 796,104 16 250,000 16 Robert Sinclair Robertson... 761 960 801 244 264... 1,570 1,184 567 189 90 Brett Lance Miller... 532 673 561 171 185... 392 296 144 48 23 (i)... 153 720 167 134... 265 29 113... 602 3,466 1,200 85 88... 300 641 450 74 76 (ii)... 300 587 88 4,457 7,960 4,708 1,007 1,061 (i) (ii)

(c)... 4 4 5 5 5... 1 1 (b)... 388 638 (d) 26. (a)... 30,528 39,167 65,035 6,683 25,217... 5,180 1,450 6,491 1,863 3,227 35,708 40,617 71,526 8,546 28,444 (a)

27.... 2,981 1,153 1,344... (689) (1,499) (825) (5) (390)... (425) (74) (2,733) (417)... 406 236 1,157 55 294 28. 2,273 (184) (1,057) 50 (513)... 1,572 1,023 803 340 138 (a)... 1,577 387 7 1,572 2,600 1,190 347 138... (23,688) (65,816) (113,443) (34,837) (58,704)... (3,035) (1,906) (1,176) (391) (2,010)... (7,479) 21... (124) (a)... (282)... (10,949) (b)... 513 39,607 40,789 6,322 10,017 (26,210) (28,115) (73,830) (39,855) (58,582) 20... (168,451) (26,210) (28,115) (242,281) (39,855) (58,582)... (24,638) (25,515) (241,091) (39,508) (58,444)

(a) (b) 12% 19% 13% 9% 6 29.... 57,429 7,626 29,798 10... 11,566 (12,742)... 11,566 44,687 7,626 29,798... 150,273 257,729 375,147 98,449 184,092... 49,590 64,432 93,787 24,612 46,023... 454 614 1,656 (a)... (53,750) (59,654) (101,429) (26,688) (28,252) (b)... (3,772) (4,335)... 4,160 2,536 56,070 9,702 10,371... 7,570... 11,566 44,687 7,626 29,798 BVI

33% 25% 33% (a) 15% 50% 70% 15%... 0% 7.5% 7.5% 7.5% 7.5%... 0% 0% 7.5% 7.5% 7.5%... 33% 25% 15% 15% 15% (b)

30. (a) 16... 150,273 246,163 330,460 90,823 153,074... 63,979 64,113 64,531 64,116 64,996... 2.35 3.84 5.12 1.42 2.36 (b)... 150,273 246,163 330,460 90,823 153,074... 150,273 246,163 330,460 90,823 153,074... 63,979 64,113 64,531 64,116 64,996... 388 81 653 460... 64,367 64,194 65,184 64,116 65,456... 2.33 3.83 5.07 1.42 2.34

31.... 150,273 257,729 375,147 98,449 184,092 6 7 8 9... 44,857 64,383 103,103 21,750 62,869 27... 425 74 2,733 417 13... (1,016) 914 1,372... 211... 1,962 1,480 1,161 328 285 28... 24,638 25,515 241,091 39,508 58,444... (21,674) (35,854) (29,881) (22,909) (14,654)... (29,234) (14,654) (4,936) (58,843) (1,901)... (30,326) (10,954) (52,632) (17,059) (62,622)... 56,029 61,076 59,580 194,977 108,317... 196,145 349,709 696,738 256,201 335,247 6... 2,597 212 4,632 1,101 27... (425) (74) (2,733) (417)... 2,172 138 1,899 684

32. 33. (a)... 556,656 449,035 558,336 502,988 (b) 5 10 1... 345 484 74 1 5... 533 217 209 5... 504 496 446 1,382 1,197 729 34. (a) 100% 36%41 180,700,000

... 130,000 (a)... 14,650 (b)23... 36,050... 180,700... 135,426... 45,274 (a) (b)... 9,078 9,078 6... 140,475 130,542 7... 6,924 5,176... 461 8... 5,250 3,576 9... 20,610... 266 266... 17,591 17,591... 35,555 35,555... (59,938) (59,938)... (32,009) (32,009) 10... (8,376)... 135,426 110,298 9... 45,274... 180,700 110,298... 130,000... (9,078)... 120,922

86,329,000 46,539,000 15,773,000 5,483,000 35. 125,000,000 80% 20% 100,000,00025,000,000 340,321,000 200,000,000 (a)... 50,000 6... 25,000 75,000 6... 312,226 7... 15,165 8... 12,930 340,321 19... (49,200) 19... (150,800) (200,000) (b)... (140,321) (a) (b) (c) 50,000,000 98,293,000 30 13(b)

36. (a)... 3,167 4,632 5,821 1,061 1,098... 3,600... 1,962 1,480 976 266 226 5,129 9,712 6,797 1,327 1,324 (b)... 900 900... 580 580 1,480 1,480 12 (c)... 2,662 2,662 2,662 2,662 (d) 19(a)(iv)19(a)(v)

37. 60,000,000 III. []

A.

12 12

512

A1903 B.Sc. FRICS FHKIS [ ] 27 30

1. 1,897,000 100% 1,897,000 20 12001 12002 2. 5,376,000 100% 5,376,000 A1903 3. 107,997,000 100% 107,997,000 3 31 4. 26,688,000 100% 26,688,000 4 27

5. 17,642,000 100% 17,642,000 21 6. 56,701,000 100% 56,701,000 25 7. 416,000 100% 416,000 3 8. 216,663,000 100% 216,663,000 2 22

9. 5,967,000 100% 5,967,000 8 10. 216,722,000 100% 216,722,000 3 27 11. 5,099,000 100% 5,099,000 12. 185,129,000 80% 148,103,000 9 846,297,000 809,271,000

13. 114,411,000 100% 114,411,000 14. 78,736,000 100% 78,736,000 15. 34,343,000 100% 34,343,000 227,490,000 227,490,000

16. 311,000 100% 311,000 311,000 311,000 1,074,098,000 1,037,072,000

1. 1,897,000 23 202 100% 20 364.82 12001 1,897,000 12002 1. 21100104017-21-1-12001-1 1100104017-21-1-12002-1 364.822 2. a. b.

2. 5,376,000 2819 100% 853.34 A1903 5,376,000 1. 1075106011-20-1-A1603 853.34 2. 260 30 3. a. b. c.

3. 3 31 228,582.663 31 13,044.88 107,997,000 100% 107,997,000 1. 2. 3 (2008) 00182 (2010) 1029410295 3228,582.66 (2008) 00182 (2010) 102942 742,025 3. 26 122520012501 0012505 0013601 0013604 0013711 0013714 0013801 0013805 0013808 0022101 0022103 0025301 002530313,044.88 31 4. 122525 2,324.75 140,000,000 5. a. (2010) 10295 2 b.

c. d.

4. 4 27 48,000 4 27 8,633.38 26,688,000 100% 26,688,000 2,500( ) 24,556.34 57,852,900 15,069,000 1. 2. 4 (2008) 00183 00186 4 48,000 2,928,001 3. 12 122500186501 0186505 0131101 0131104 0131601 0131602 8,633.3827 4. [2010] 026 24,556.342,500 5. [2010] 006 4

6. (2008) 00181 16 00184 00186 40,0534 50,000,000 7. a. b. c. d. e.

5. 49,917.80 17,642,000 21 100% 21 17,642,000 9,045.6 1. 2. (2008) 00180 49,917.80 4,922,34516 3. 5 122530136201 01362049,045.621 4. a. b. c.

6. 48,554 56,701,000 25 100% 25 56,701,000 13,656.02 1. 2. (2010) 001 48,554 4,900,575.887 3. (2009)00005806-0280 13,656.0225 4. a. b. c.

7. 3,680 416,000 3 100% 3 74.43 416,000 21 1. 2. (2010) 002 3,680 6 3. (2009)00005807-0281 74.433 4. a. b. c.

8. 216,663,000 2 22 111,355.052 22 8,439.87 100% 216,663,000 1. 2. 2 (2007) 186 (2009) 37 2111,355.05 10,385,000 3. 1608000770800079 0800093 8,439.8722 4. (2007) 186 (2009) 37 111,355.05 20800077 3,365.72 1 330,000,000 5. a. b. c. d.

9. 16,120.53 5,967,000 8 8 2,121.3 100% 5,967,000 1. 2. (2010) 10576 16,120.53 961,371.76 3. 80162101 0162106 0163001 0163002 2,121.38 4. a. b. c.

10. 3 27 506,129.393 27 19,905.48 216,722,000 100% 216,722,000 1. 2. 215,574.602 11,642,400 3. 3 (2010) 10202 (2007)1276 1277 3506,129.39 4. 8 1003 1004 2009122401-1 2009122401-619,905.4827 5. 61101200900004285(2007)1276 1277 215,574.60 2 1003 10045,405.872 46,000,000

6. a. (2010) 10202 b. c. d.

11. 55,425.44 5,099,000 100% 5,099,000 1. 2. (2010)10201 55,425.44 6,468,000 3. a. b. c.

12. 72,163.89 185,129,000 9 80% 148,103,000 9 5,713.76 1. 80% 2. (2010) 1055172,163.89 3. 90138000 01380085,713.76 9 4. a. b. c.

13. 4,000 199,576.6 141,987 114,411,000 100% 114,411,000 6,090 2,600 132,640 657 141,987 91,200,000 86,393,600 1. 2. 094623 199,576.6 19,420,782.50 3. (2009) 52 141,9874,000 4. (2009)-02 3

5. a. b. c. d.

14. 2,500 78,736,000 148,314 107,514 100% 78,736,000 6,090 1,226.42 100,197.58 107,514 76,264,700 59,752,000 1. 2. (2010) 10238 148,314 11,878,408 3. 0017051 107,5142,500 4. (2009) 102 3

5. a. b. c. d.

15. 2,500 153,330 64,300 34,343,000 100% 34,343,000 7,000 2,600 54,700 64,300 93,955,100 19,623,000 1. 2. (2010) 10248 153,330 3. 61072420090000268 2,500 64,300 4. (2009)89 3 5. a. b. c.

16. 9,333 311,000 100% 311,000 1. 2. (2008) 00181 9,333 5 3. 4. 2 (2008)00184 00186 4 3 50,000,000 5. a. b. c. d.

1. 1.1 1.1.1 West China Cement Limited 1.1.2 1.1.3 1.1.4 1.2 2. 2.1 2.1.1 2.1.2

2.1.3 32 2.1.4 (a) (b) (i) (ii) (c) 2.1.5 (a)

(b) 2.1.6 (a) (b) (c) (i) (ii) (d) (i) (ii) (iii) (iv) (v) (e) (f)

(g) (h) (i) 2.1.7 2.1.8 2.1.9

2.2 2.3 2.4 2.5 2.5.1 (a) (b) 2.5.2 2.5.3 2.5.4 2.5.5

2.5.6 2.6 15 2.7 2.7.1 2.7.2 2.7.3 2.7.4 (i) (ii) 21 2.7.5

2.8 2.8.1 (a) 20 10 (b) 95% (c) (d) (e) (f) (g) 2.8.2

2.9 2.9.1 2.9.2 2.9.3 2.9.4 30 2.9.5 2.9.6

2.10 32 2.11 2.11.1, 2.11.2 2.11.3 2.11.4

2.11.5. 2.11.6 2.11.7 2.12 2.12.1 2.12.2 (a) 48

(b) 48 24 (c) 48 2.12.3 2.12.4 2.13 2.13.1 (a) 14 (b)

(c) (d) (e) 2.13.2 (a) 14 (b) (c)

(d) 2.14 30 30 60 2.15 2.15.1 2.15.2

2.16 3.7 2.17 2.17.1 2.17.2 2.18 2.18.1 (a) (i) (ii) (iii) (iv)

(v) (vi) (b) (c) 2.18.2 (a) (b) 14 (c)

2.18.3 (a) (i) (iii)12 (iii) 3 (ii) (iii) 3 (b) 2.18.4 (a)

(b) (c) (d) 2.18.5 (a) (b) 2.18.6

2.18.7 2.18.8 (a) (b) (i) (ii) (c) (d)

2.18.9 3. 3.1 3.1.1 (Regulation of Undertakings and Development (Jersey) Law 1973) 3.1.2 150 3.2 Control of Borrowing (Jersey) Order 1958(Jersey Financial Services Commission) 3.3 3.3.1 3.3.2 (a)

(b) (i) (ii) (iii) (iv) 11 (v) 17 (c) (d) 17 3.6 3.3.3 12 1117 3.3.4 3.3.5

3.4 3.5 3.5.1 (a) (b) (c) 12 (d) 3.5.2 (a) (b)

(c) 18 (d) 3.5.3 3.6 12 3.7 3.7.1 (a) (b) 3.7.2

3.7.3 (a) (Minister for Economic Development) (Jersey Financial Services Commission) (b) (c) 10,000 3.7.4 3.8 (a) (b) 3.9 3.10

3.11 3.11.1 3.11.2 0% 10% 20% 123 20% 0% 3.11.3 3.11.4 0.75% 3.11.5 3.12

3.13 10 3.14 3.14.1 3.14.2 3.14.3 3.14.4 3,000

3.15 3.15.1 3.15.2 3.15.1 3.15.2 3.16 3.16.1 3.16.2 3.16.1 6

3.17 3.17.1 (b) 3.17.2 (a) (i) (ii) (iii) (b) (c) (d)

A. 1. 183 34 3401-02 XI 2. 10,000 10,000 1.00 1.00 (a)10,000 1.00100,000 0.10(b)199,900,000 0.1020,000,000 BVI 42,735,965 0.10 0.10 500.002 10,000,000,000 0.002 8,231,063.70 4,115,531,8505,884,468,150 3.

3. (i) (a) (b) D. 2. (ii) (a) 0.10 50 0.002 4. 5. (a) (b) (c) 300,000,000 530,000,000 135,000,000 345,000,000 105,000,000 140,000,000

6. B. 1. (a) (b) (c) (d) (e) (f) 41 Li Xianlan 180,699,527.36 50,000,000 BVI 80% 20% Ready-Made Incorporations LimitedBVI Ready-Made Incorporations Limited 1.00BVI1.00 Ready-Made Incorporations LimitedBVI 1.00 1.00 BVI BVI 530,000,000 BVI99

(g) [ ] [ ] [ ] (h) [ ] [ ] [ ]D. 3. (i) 2. (a) (i) 19 901015 1 19 5158040 2 19 301490689 3 19 301490661 3 19 301490652 3

(1) 19 (2) 19 (3) 19 (b) westchinacement.com yaobo.com.cn... cn... cn... cn... cn C. 1. (a) (b)

(c)... 1,200,000... 450,000... 720,000... 500,000 200,000 200,000 3,733,000 1. (b) 2. 3. 4. (a) (b) D. 10.

(c) (d) (e) (f) (g) 5% D. 1. (a) (i) (ii) (iii) (iv) (v)

(vi) (b) 75% (c) (1) (2) (3) (4) 75% (d)

(e) (f) (g) (h) (i) 12,500,000 0.0283 0.30% 11021

(ii) Robert The Village House, 31,844,150 0.021 Sinclair Bradfield Berks, 0.77% Robertson United Kingdom RG7 6BH Brett Lance 5 A Gilston Road, 7,961,050 0.021 Miller London, United 0.19% Kingdom SW10 9SJ [ ][ ]%

0.1050 0.002 10,000,000,000 0.002 12,500,000 0.0283 0.30% 11021 [ ] [ ] [ ] [ ] 2. (a) (b) (i)

(ii) (b) (f) (i) (ii) (iii) 1.00 (c) 1.00 (l) (m) (n) (o) (p) 21(r)

(d) 10%411,533,185 (i) 10% (ii) 10% (r) 30% 30% (r) (e) 12 1% 1% (i)

(ii) (aa) (bb) (cc) (dd) (c) (ee) (ff) (gg) (hh) (c) (f) (r) (i) (ii) (iii)

(g) 12 (i) 0.1% (ii) 5 (i) (ii) (iii) (h) (i)

(ii) (iii) 60 (iv) 30 (i) (j) 10 1010 10 (k) (l) (i) (m) (ii) 12

(m) (n) 14 (o) (p)

(q) (r) (s) (i) (ii) (l) (m) (n) (o) (p) (iii) (p)

(iv) (o) (v) (vi) (i) (u) (t) (i) (ii) (u) (i) (m) (v)

(w) (x) (x) (i) (ii) (iii) (y) (z) 3. B. 1. (h)

4. 5. 6. 7. 8. (a) 0.1% (b) (c) 9. 10. 11. 12. (a) (i) (ii)

(iii) (iv) (b) (c) D. (d) (e) 12 (f) (g) (h) 13.