2005-2015 股份代號 03311 慎微篤行 精築致遠 二零一五年年報 ANNIVERSARY 上市十週年

2 4 5 6 8 14 24 32 50 58 68 77 90 96 105 202 204

22015 25 2015

(BT, BOT PPP*) 32015 ** * BT * BOT * PPP ** 00830

42015

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 03311 CSC FIN N1804 * 05916 * China State Construction Finance (Cayman) I Limited500,000,0003.125% 2018 52015 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 139 28 www.csci.com.hk

a 17,510,533 22,059,910 27,285,620 34,439,575 37,913,159 b 2,236,635 2,994,662 3,897,458 4,823,804 5,704,248 1,514,514 2,044,337 2,749,551 3,457,410 4,153,072 (%) 8.6 9.3 10.1 10.0 11.0 1.20 1.56 1.28 1.10 1.05 62015 44.43 54.98 70.71 88.75 103.16 13.00 16.00 21.00 26.00 33.00 2.65 3.45 4.10 4.94 5.24 48.92 57.69 76.48 93.10 127.06 (a) (b)

4,500,000 40,000,000 120 3,750,000 32,000,000 100 3,000,000 80 24,000,000 2,250,000 60 1,500,000 750,000 16,000,000 8,000,000 40 20 72015 0 2011 2012 2013 2014 2015 0 0 2011 2012 2013 2014 2015 * 14.0% 4.7% 42.7% 14.3% 0.4% 16.3% 38.6% 69.0% *

82015

200 92015

21 2015 10 21 2015 2015 2015 34

820 94 625 JUL 5 32016 PPP 2015 11

2015 12

JUL Site D Site D 52.6 2015 13

2015 14 41 700.9

2015 15

2015 16 20 16 41.53 20.1% 379.13 10.1% 103.1616.2% 18.0020.0% 33.00 2.0026.9% 1. 191.58 C1 C2

2. 482.49 PPP9 3. 2015 17

2015 18 24 41 700.89 19.5% 68.9%7.8%3.8% 8 155.80 88 1,997.88 1,270.48 2,142.88

35 80.15 177.73 45.9% 31.15 246.49 139.46 2015 19

2015 20 BBB BBB+ 47 32 244 2015 2014 2015 BT BOT PPP

2014/15 2014/2015 21 3 1 2 2015 2014 40 2015 Site D 2015 21

2015 22

2015 23

41.53 20.1% 2015 24 379.1341.53 10.1% 20.1% 3.00 18.00 13.00 2.00 33.00 26.9%

PPP 1) 161.84 5.9% 5.3% 7.3% 2015 25

2015 26 2) 135.6% 178.8% 53.14 2.69 122.6% 7.31 146.31 1.7% 6.7%BT 64.47 PPP 1) BT BOT TOT PPP 130.087.7% 4.5% 4.9% 30.83 29.98

PPP 3) 36.2% 6.77 458.30 2) 9.46 2.31 2.04 2015 27

75.2% 8.33 4.24 33.2% 6.07 2015 28 103.16 16.2% 41.534,026,027,000 211.47 198.3041.53 80.15 74.52 11.4% % % 36 27 48 57 16 13 3

3.00 16.89 BT13.9641.38 16.96 24.49 9.35 20.91 13.09 31.72 31.15 177.7373.3% 25.3% 808 587 816 1,066 10,663 4,395 1,607 4,901 13,894 10,949 3,879 3,870 2015 29 17,773 14,819 97.58 73.67 45.9% 36.8% 246.49

(1) 131.40 (2) 70.60 (3) BT 89.60 2015 30 (4) PPP 46.9070% 30% (5) 4.00 (6) PPP 23.8090% 10% (7) BT

2015 31

88 1,997.9

/ 1 200 201 2 3 Site D 2015 34 4 52 5 A 6 1 2 3 4 5 6 1 2 TW5

/ 1 A 2 B 34.1% 1 2 3 7.8% 44.6% 32.2% 35.6% 4.3% 2015 35 13.5% 67.8% 60.1%

41 700.89 8.8% 3.8% 11.1% 10.9% 14.0% 3.8% 7.8% 3.8% 19.5% 2015 36 65.4% 8155.8 82.2% 68.9% 34 55,573 23,990 8 14,667 6,854 13 35,147 14,308 13 5,759 2,828 49 119,498 88,221 2 2,640 2,087 47 116,858 86,134 5 18,330 11,169 6,387 3,668 88 199,788 127,048

47 116,858 86,134 72,484 53,528 44,374 32,606 41 76,543 37,246 2 2,640 2,087 34 55,573 23,990 5 18,330 11,169 6,387 3,668 88 199,788 127,048 4.2% 3.2% 16.5% 16.1% 3.2% 9.2% 3.2% 27.8% 2015 37 17.6% 58.5% 80.7% 59.8%

2015 38 (continued) 10 7 2 3 1 9 3 11 12 8 6 2 13 4, 5 1

1 B 1,776 2 52 2,580 3 5,454 4 C1 C2 1,044 5 2,063 6 5,377 7 8,875 8 4,792 9 1,659 10 2,510 11 2,876 12 1,708 13 2,132 2015 39

3 2015 40 1 2

5 6 7 2015 41

8 9 2015 42 11

1 1 2 1,892 2 10,485 3 5,405 1 2015 43 2

業務回顧 續 主要業務 中國 內地 2 0 1 5年 年 報 30 黃河 31 17 27 中 國建 築 國 際 集 團 有 限 公 司 44 23 25 10 26 中國內地 11, 12, 13, 14, 24 33 3, 5 28 22 7, 8, 9, 21 15, 16 20 6 29 長江 1, 2 18, 19 珠江 4 32 公路 工廠 大橋 港口 樓宇建築

1 BT 2 BT 3 4 5 6 7 BT 8 BT 9 10 11 BT 12 BT 13 PPP 14 PPP 15 16 17 18 G104BT 19 BT 20 21 PPP 22 23 BT 24 PPP 25 26 27 28 29 30 31 32 33 2015 45

2 2015 46 4

7 11 2015 47

29 2015 48 31

32 33 2015 49

2015 50 2014/15 2014/15 2014 2014 2014

AAA 2014 2015 2014 40 2015 ARC ARC Awards 2015 51

PCF 2015 52 A71# 5# 8# 9# 10# 12# 14# 15# 16# 2014

DBO RFID 2015 53

2014/2015 2014 BT 2015 54 8 Site D 2014 TW5

2015 55

2015 56 2015 2015 2015 2015

2015 2015 57

58 2015

2015 60 155 10,889 5,0625,142685

4,350 Scheme A 2015 61

2015 62

2015 63 2015 63 2014ISO50001 2011 2015 (BEAM Pro) BEAM Pro 2 2014 6

2015 64 250

30 13 2015 2015 65

www.csci.com.hk 2015 66

2015 67

2015 68 5 3 1 2 4 6 1 2 3 4 5 6

2015 69

2015 70

MBE 2015 71

2015 72 BAI Global Banking Innovation Awards The Berkeley Group Holdings plc Abertis Infraestructuras, S.A. AFFIN Holdings Berhad

OBE 2015 73

2015 74

2015 75

2015 76

A.2.1 4/4 1/1 4/4 1/1 4/4 1/1 4/4 1/1 4/4 1/1 4/4 1/1 2015 77 4/4 1/1 4/4 1/1 3/4 1/1 4/4 1/1

2015 78

2015 79

A.2.1 2015 80

3.103.10(A) 3.13 3.13 2015 81

2015 82 1/1 1/1 1/1 1/1

1/1 1/1 1/1 1/1 2015 83

(a) (b) (c) (d) (e) 2015 84 4/4 4/4 3/4 4/4

7,468,000 7,152,000 316,000 2015 85

XV352 3,233,027 3,300,000 2,605,138 167,471 581,584 913,569 913,569 913,569 913,569 7,095 30,000 2,365 2015 86 400,000 35,520,224 16,659,383 11,922,075 31,974,915 45,678 4,737,308 3,499,631 0.2254 1.03 0.99 0.2475 0.2345 0.2254 20% 43,896,990 959,247 42,937,743 12.469012.1896

3.29 2015 87

2015 88

www.csci.com.hk 2015 89

2015 90 45 6 107 108 13527,321,000 10 281,126,000 18 730,137,000 2015 2431 (1) 5+3

(2) (3) (4) 62,323 84,400 204 4,056,314,622 0.025 43,896,990 9,895,000 34 181 10,271,648,000 10,125,066,000 40 2015 91

202 203 87(1) 87(2) 9 178,500187,500 3.13 2015 92

336 1 2 2,336,091,659 57.59 3 2,336,091,659 57.59 4 2,336,091,659 57.59 1. 4,056,314,622 2. 2,336,091,6592,239,953,30896,138,351 3. 2,336,091,659 4. 2,336,091,659 2015 93

20.5% 14.6% 46.0% 43.4% 2.8% 6.7% 10.6% 11.8% 5% 96 104 43 13.22 8.10 4,954,970 3,895,200 (2,594,982) (7,249,621) (994,433) (994,433) (994,433) 235,169,000 2015 94

1.23 2015 95

2015 96 A. A.1 2,500,000 3,000,000 80% 20% 2,100,000,000 2,561,000,000 177,600,000 216,600,000 20% 0.1% 5% A.2 50 50

500,000,000 609,756,098 250,000,000 304,878,049 0.1% 5% A.3 50 50 10,000,000 12,195,122 5,000,000 6,097,561 1,500,000,000 1,829,268,293 150,000,000 182,926,829 0.1% 5% 2015 97

A.4 B. 2015 98 SAIF XINGHE Hong Kong Limited 4.76% 45 45 10 550,185,000 671,225,700 0.1% 5% B.1 25,000,000 50,000,000 25,000,000

2015 99 5% 2,179,631.84 B.2 9,000,000 18,000,000 9,000,000 5% 6,670,822.50 B.3 100,000,000

2015 100 5% 32,812,500 B.4 85,000,000 130,000,000 130,000,000 5% B.5 (i) 15,000,000,000 (ii) 3,000,000,000

5% B.6 BT 5,062,166,273.43 17,611,389 BT 1,000,000,000 5% 2015 101

2015 102 B.7 800,000,000 5% 318,658,326.41 B.8 3,000,000,000 5%

2015 103 2,891,654,200 B.9 10,000,000 20,000,000 10,000,000 0.1% 5,207,404.44 14A.55 (i) (ii)

(iii) 14A.56 3000 740 43 14A 2015 104 (1) (2) (3) (4)

107 201 2015 105

2015 106

5 37,913,159 34,439,575 (32,883,385) (29,696,483) 5,029,774 4,743,092 7 832,800 475,339 (995,527) (1,033,140) 423,728 294,345 72,462 23,787 8 (607,082) (455,829) 4,756,155 4,047,594 11 (654,526) (659,716) 12 4,101,629 3,387,878 4,153,072 3,457,410 (51,443) (69,532) 4,101,629 3,387,878 14 103.16 88.75 102.26 87.52 2015 107

4,101,629 3,387,878 (375,127) (9,954) 362,652 4,838 (1,641,918) (178,351) (1,654,393) (183,467) 2015 108 2,447,236 3,204,411 2,517,035 3,290,828 (69,799) (86,417) 2,447,236 3,204,411

15 2,771,990 2,827,300 16 36,991 38,073 17 1,536,372 1,489,188 18 269,816 273,022 19 3,573,662 3,449,034 20 3,800,193 2,104,943 21 6,044,202 6,530,992 38 280,951 187,320 22 186,025 200,640 22 577,664 577,664 23 239,503 453,286 24 281,858 411,838 27 17,949,961 12,901,282 108,043 29 804,918 37,657,231 32,249,500 17 35,817 17,176 25 108,835 160,289 418,915 66,544 26 2,421,715 1,354,148 27 18,170,163 12,542,067 526,915 461,585 29 1,104,082 29 1,564,404 1,342,025 41,271 11,559 30 8,015,187 7,452,448 2015 109 32,407,304 23,407,841 33 10,921,766 32,407,304 34,329,607

26 4,669,015 3,793,052 31 21,926,222 17,261,318 698,194 828,738 29 625,844 354,111 28 26,480 2,015,547 930,971 32 808,197 587,269 951 998 2015 110 30,743,970 23,782,937 33 7,438,135 30,743,970 31,221,072 1,663,334 3,108,535 39,320,565 35,358,035 34 101,408 100,310 35 21,045,308 19,729,786 21,146,716 19,830,096 100,262 167,566 21,246,978 19,997,662 32 13,085,694 10,361,804 36 3,879,322 3,869,804 37 738,610 735,808 38 367,242 389,477 2,719 3,480 18,073,587 15,360,373 39,320,565 35,358,035

34 35 97,219 15,836,417 15,933,636 253,237 16,186,873 3,457,410 3,457,410 (69,532) 3,387,878 (9,954) (9,954) (9,954) 4,838 4,838 4,838 (161,466) (161,466) (16,885) (178,351) 3,290,828 3,290,828 (86,417) 3,204,411 160 1,281 1,441 1,441 2,931 1,317,619 1,320,550 1,320,550 178,892 178,892 178,892 6,338 6,338 (5,592) (5,592) (467,088) (467,088) (467,088) (428,163) (428,163) (428,163) 3,091 602,541 605,632 746 606,378 100,310 19,729,786 19,830,096 167,566 19,997,662 2015 111

34 35 100,310 19,729,786 19,830,096 167,566 19,997,662 2015 112 4,153,072 4,153,072 (51,443) 4,101,629 (375,127) (375,127) (375,127) 362,598 362,598 54 362,652 (1,623,508) (1,623,508) (18,410) (1,641,918) 2,517,035 2,517,035 (69,799) 2,447,236 1,098 8,797 9,895 9,895 8,646 8,646 (6,151) (6,151) (601,863) (601,863) (601,863) (527,321) (527,321) (527,321) (81,126) (81,126) (81,126) 1,098 (1,201,513) (1,200,415) 2,495 (1,197,920) 101,408 21,045,308 21,146,716 100,262 21,246,978

4,756,155 4,047,594 607,082 455,829 (201,583) (154,661) (15,458) (15,289) (375,127) (13,992) (75,682) (244,166) (1,341) 4,156 (90,569) (423,728) (294,345) (72,462) (23,787) 20,126 1,873 139,110 145,084 1,003 1,007 180,863 142,257 14,615 25,956 5,420 6,077 2,800 2,932 4,471,224 4,086,525 (38,263) (253,537) (117,091) (178,669) 51,454 3,138 (64,001) 559,217 (7,699,473) (7,661,711) (12,014) (98,284) 3,993,957 4,278,046 (100,319) (935,685) (26,480) (1,134) (1,273,675) 54,232 100,922 2015 113 513,226 (1,374,847) (223,035) (336,944) 9,905 22,853 300,096 (1,688,938)

2015 114 73,422 94,787 (425,478) (514,487) (21,985) 32,818 38,017 187,465 130,720 330,502 (36,232) (140,746) 369,453 338,451 (299,164) (677,368) 267,135 160,075 16,846 40,197 15,458 15,289 (959,838) (1,572,596) (108,043) 26,325 (998) (183,061) 282,277 391 (391) (3) 142 (203,496) (302,407) (935,204) (2,091,319)

(606,160) (853,197) (1,210,310) (895,251) (6,151) (5,592) 178,892 8,646 6,338 7,191,039 6,249,098 (4,075,969) (1,507,621) (1,542) (1,839) 9,895 1,441 1,309,448 3,172,269 674,340 (607,988) 7,505,128 8,161,250 (164,595) (48,134) 8,014,873 7,505,128 8,015,187 7,452,448 33 53,382 (314) (702) 8,014,873 7,505,128 2015 115 BT13.96 41.3816.96 24.49

1 Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, The Cayman Islands 139 28 45 19 20 2015 116 2 2.1 4

2 2.1 (a) 19 2010 2012 2011 2013 (b) 622 622 9 (c) 1 1 16 38 1 16 41 1 27 1 10 3 28 10 1 12 28 11 1 9 2 14 1 15 2 2012 2014 1 2015 117 1 2 3

2 2.2 (a) 2015 118 5

2 2.2 (a) 2015 119

2 2.2 (a) 2015 120 (b) 20% 50%

2 2.2 (b) (c) 11 2015 121

2 2.2 (c) 2.3 2015 122 2.4 (a) (b)

2 2.4 (c) (i) (ii) (iii) (d) 2.5 2015 123

2 2.5 50 20 3 10 3 8 2015 124 2.6

2 2.7 50 20 50 2.8 39 2.9 (a) 2015 125

2 2.9 (a) (b) 2015 126 (c)

2 2.10 (a) 12 (b) 12 (c) 2015 127

2 2.10 2015 128 2.11 (a)

2 2.11 (a) (b) 2.12 2015 129

2 2.13 2.14 2.15 2015 130

2 2.16 2.17 2.18 2.19 2.20 2015 131

2 2.21 2015 132 2.22 2.23 (i)

2 2.23 (ii) (iii) 2.24 2015 133

2 2.25 (a) 2015 134 (b) (i) (ii)

2 2.26 (a) (b) 2.27 (a) 2015 135 (b)

2 2.28 (a) 2015 136 (b) (c)

2 2.28 (d) (e) (f) (g) (h) (i) (j) 2015 137 (k) (l) BT BT

2 2.29 2015 138 2.30 2.31 2.32 2

3 3.1 (a) (i) 5%29,363,000 565,000 (ii) HIBOR LIBOR 23 27 32 2015 139

3 3.1 (a) (ii) 50 50 2015 140 50 50 37,071,000 29,856,000 (b)

3 3.1 (b) (c) 19,065,054 129,597 1,971,555 701,236 859 21,868,301 625,844 625,844 654,499 514,394 1,215,053 11,318,307 2,096,482 15,798,735 60,938 60,938 121,875 3,910,041 4,153,792 489 489 794 1,773 859 4,404 2015 141 20,406,824 705,418 3,309,277 15,931,357 2,098,200 42,451,076 15,199,120 177,080 1,125,357 716,512 596 17,218,665 354,111 354,111 26,480 26,480 472,824 481,169 1,385,345 5,330,952 5,652,864 13,323,154 60,938 60,938 121,875 4,052,594 4,296,345 513 513 988 2,012 1,402 5,428 16,113,986 719,700 2,633,565 10,102,070 5,654,862 35,224,183

3 3.2 2015 142 45.9% 36.8% 3.3 107,811 107,811 19,061 19,061 112,631 112,631 107,811 131,692 239,503

3 3.3 107,511 107,511 18,853 18,853 326,922 326,922 107,511 345,775 453,286 350,237 (14) (4,448) 345,775 (221) 1,000 (577,215) 362,353 2015 143 131,692

3 3.3 2015 144 4

4 4.1 4.2 4.3 4.4 2015 145

4 4.5 4.6 2015 146 4.7

5 21,676,285 17,506,644 (a) 13,008,014 14,097,918 1,784,380 1,382,018 (b) 946,031 921,969 (c) 498,449 531,026 37,913,159 34,439,575 (a) BT (b) (c) 6 2015 147

6 2015 148 16,183,532 15,284,749 957,560 1,010,830 833,437 898,999 14,631,020 15,516,909 3,635,761 3,575,493 3,528,357 3,305,605 5,314,227 2,255,899 268,605 96,334 730,828 328,282 (16,219) (27,954) (28,386) (53,627) 1,784,380 1,382,018 184,067 88,389 19,003 (114,998) 37,913,159 34,439,575 5,029,774 4,743,092 5,083,239 4,364,261 (229,280) (192,962) 13,088 13,992 423,728 294,345 72,462 23,787 (607,082) (455,829) 4,756,155 4,047,594

6 1,036 7,415 1,764 (4,483) 2,800 2,932 5,109 4,877 307,669 272,640 3,954 6,975 36 24,279 35,853 341,011 320,381 (46) 4,758 3,876 943 12 (301) (9,433) (2,200) (424) 1,341 (4,156) 90,569 90,569 939,178 1,034,165 119,131 181,875 8,550,764 9,010,758 303,446 321,402 129,108 131,411 5,268 10,959 267,638 271,357 8,508 10,996 2015 149 9,886,688 10,447,691 436,353 525,232

6 7,779,929,000 5,021,915,000 7 2015 150 67,865 87,876 5,557 6,911 15,514 14,317 112,647 45,557 15,458 15,289 90,569 13,992 1,341 75,682 244,166 9,041 9,598 26,832 9,420 375,127 3,480 37,167 24,733 832,800 475,339

8 426,683 700,730 133,085 133,085 74 257 272 57,932 33,544 617,957 867,705 (87,197) (313,934) (10,875) (10,745) 607,082 455,829 3.5% 3.5% 9 (a) (a) (b)(c) 800 25 360 360 250 360 2,155 : 2,760 1,229 1,229 1,229 2,213 1,229 9,889 (d) 3,002 3,333 3,079 2,753 2,100 2,753 17,020 18 18 18 18 18 18 108 2015 151 6,580 4,580 4,326 4,000 4,331 4,000 25 360 360 250 360 29,172

9 (a) 622 (a) (b) (c) 2015 152 800 300 360 360 250 360 2,430 : 2,760 1,212 1,212 1,212 2,030 706 9,132 (d) 3,003 3,098 2,839 2,655 1,900 2,361 15,856 17 17 17 17 17 10 95 6,580 4,327 4,068 3,884 3,947 3,077 300 360 360 250 360 27,513 (a) (b) (c) (d)

9 (b) 10 23,166 24,830 144 151 23,310 24,981 1,000,000 1,000,001 1,500,000 1,500,001 2,000,000 1 2,000,001 2,500,000 2 2,500,001 3,000,000 2 3,000,000 4 9 2015 153 11 94,266 93,475 667,686 615,064 761,952 708,539 1,106 (1,498) 7,845 (2,032) 8,951 (3,530) 770,903 705,009 38 (116,377) (45,293) 654,526 659,716

11 16.5% 2015 154 4,756,155 4,047,594 (423,728) (294,345) (72,462) (23,787) 4,259,965 3,729,462 16.5% 16.5% 702,894 615,361 87,392 129,600 41,215 11,250 (196,243) (156,880) 41,977 72,185 (35,565) (8,180) 38 5,247 (1,434) 8,951 (3,530) (1,342) 1,344 654,526 659,716

12 9,157 7,719 (30) 9,157 7,689 331,820 319,974 (192,710) (174,890) 139,110 145,084 3,256,717 2,818,649 123,117 85,432 (2,508,371) (2,050,941) 871,463 853,140 409,444 340,415 57,904 34,694 467,348 375,109 (424,859) (347,265) 42,489 27,844 2015 155 (9,041) (9,598) 1,003 1,007 180,863 142,257 14,615 25,956 5,420 6,077 31,967,799 28,591,958 431,940 375,695 20,126 1,873 2,800 2,932 (1,341) 4,156

13 15.00 12.00 601,863 467,088 13.00 11.00 527,321 428,163 2.00 81,126 2015 156 1,210,310 895,251 18.0015.00 730,137,000 601,863,000 14 4,153,072 3,457,410 4,026,027 3,895,850 35,387 54,658 4,061,414 3,950,508

15 1,094,711 1,599,054 893,538 162,369 101,364 252,054 4,103,090 (4,963) (5,223) (1,761) (1,279) (205) (744) (14,175) 28,752 53,614 184,275 23,528 14,589 220,474 525,232 80,608 126,549 38,133 (245,290) (27,571) (813) (44,541) (9,858) (12,633) (95,416) 1,171,537 1,773,181 1,069,644 174,760 103,115 226,494 4,518,731 1,171,537 1,773,181 1,069,644 174,760 103,115 226,494 4,518,731 (59,975) (99,258) (10,189) (7,000) (3,607) (11,061) (191,090) 20,206 42,691 121,651 25,496 15,804 210,505 436,353 141,360 39,970 12,358 (193,688) (5,642) (87,634) (12,311) (8,347) (113,934) 1,267,486 1,756,584 1,105,830 180,945 106,965 232,250 4,650,060 199,460 536,610 545,098 93,819 55,746 1,430,733 (1,942) (2,124) (1,057) (836) (74) (6,033) 37,506 80,955 154,836 27,992 18,685 319,974 (399) (522) (33,321) (8,788) (10,213) (53,243) 2015 157 234,625 614,919 665,556 112,187 64,144 1,691,431 234,625 614,919 665,556 112,187 64,144 1,691,431 (14,533) (36,460) (5,688) (4,200) (1,843) (62,724) 41,313 78,138 169,416 25,307 17,646 331,820 (4,448) (63,641) (7,962) (6,406) (82,457) 256,957 656,597 765,643 125,332 73,541 1,878,070 1,010,529 1,099,987 340,187 55,613 33,424 232,250 2,771,990 936,912 1,158,262 404,088 62,573 38,971 226,494 2,827,300

15 83,546 88,127 310,341 313,135 471,787 397,002 72,664 77,998 15,764 17,934 56,427 42,716 2015 158 1,010,529 936,912 14,463,000 17,934,000 34,944,000 36,137,000 16 54,538 (22) 54,516 (350) 54,166 15,453 (17) 1,007 16,443 (271) 1,003 17,175 36,991 38,073

16 18,879 19,377 16,820 17,246 1,292 1,450 36,991 38,073 242,866,000228,876,000 (i) (ii) 17 2015 159 1,572,189 1,506,364 (35,817) (17,176) 1,536,372 1,489,188 BT 10.34% 27.76% 9.40% 31.07%

18 19 2,570,354 2,366,858 1,003,308 1,082,176 2015 160 3,573,662 3,449,034 % % 65 65 60 60

19 173,348 320,103 494,668 372,833 191,606 3,203 50,922 116,960 364,954 323,306 545,590 489,793 39,241 41,485 48,019 52,072 335,454 309,349 87,260 93,557 335,454 309,349 1,339,193 1,510,289 908,758 1,134,115 1,928,510 2,163,361 236,552 136,797 3,267,703 3,673,650 1,145,310 1,270,912 1,025,621 1,171,833 363,736 410,301 1,389,357 1,582,134 449 431 2,156,040 2,321,265 1,354,997 1,450,925 2015 161 778,690 821,541 376,829 (151,110) (148,221) (80,889) 5,044 5,500 8,693 (72,434) (84,129) (201,103) (195,625) (156,069) 359,087 399,066 148,564 (88,877) (92,137) (24,851) 270,210 306,929 123,713 (125,571) (7,281) (123,436) 144,639 299,648 277 201,412 156,335 57,723

19 2015 162 2,321,265 2,262,132 1,450,925 (125,571) (7,281) (123,436) 270,210 306,929 123,713 1,450,925 (309,864) (240,515) (96,205) 2,156,040 2,321,265 1,354,997 1,450,925 1,401,426 1,508,822 812,998 870,555 1,401,426 1,508,822 812,998 870,555 1,359,238 1,069,657 173,863 94,841 (79,777) (3,048) 94,086 91,793

19 % % 32.5 32.5 50 50 56.4 56.4 51 51 51 51 60 60 55 55 50 50 2015 163 Leighton China State Van Oord Joint Venture 45 45 * 49 30 30 * 49

19 % % 26 26 CSHK 30 30 2015 164 * 20 3,124,775 1,843,828 48,768 9,740 3,173,543 1,853,568 626,650 251,375 3,800,193 2,104,943 494,000494,000

20 31.5% 31.5% 40.0% 40.0% 20.0% 20.0% 29.0% 29.0% Fast Shift Investments B Limited Fast Shift # 15.0% 25.0% * * 31.34% 20.0% * * 2015 165 Fast Shift B Fast Shift 29%

20 Fast Shift Fast Shift 8,983,118 8,486,001 2015 166 8,983,118 8,486,001 856,373 1,264,753 1,849,692 942,176 2,706,065 2,206,929 6,277,053 6,279,072 Fast Shift (2,019) (998) Fast Shift Fast Shift Fast Shift

20 Fast Shift Fast Shift 6,279,072 6,280,070 (2,019) (998) 6,277,053 6,279,072 1,820,345 1,820,931 1,820,345 1,820,931 260,075 251,375 1,353,198 32,637 73,047 24,077 (16,587) 2015 167 56,460 24,077

21 6,735,017 (22,423) 340,733 7,053,327 (379,809) 38,263 2015 168 6,711,781 381,184 (1,106) 142,257 522,335 (35,619) 180,863 667,579 6,044,202 6,530,992 3,413,704,0003,751,314,000 2,630,498,000 2,779,678,000 3,413,704,000 3,751,314,000 2,254,197,000 2,488,002,000

22 216,708 45,359 9,950 577,664 849,681 18,961 26,460 45,421 10,836 15,120 25,956 29,797 41,580 71,377 10,836 3,779 14,615 40,633 45,359 85,992 176,075 9,950 577,664 763,689 186,911 3,779 9,950 577,664 778,304 203 2015 169

23 4.75% 39,269 38,400 4 6.45% (a) 68,542 69,111 2015 170 107,811 107,511 19,061 18,853 (b) 112,631 326,922 239,503 453,286 (a) 49,147,00049,750,000 (b) 65,636,000280,706,000 6,735,000 57,293 54,277 3,857 4,078 126,873 126,363 51,480 268,568 239,503 453,286

24 5.25% 7.83% 5.25% 7.83% 262,230,000392,210,000 25 94,103 124,897 812 1,413 13,920 33,979 108,835 160,289 26 85,465,277 54,141,631 (87,712,577) (56,580,535) 2015 171 (2,247,300) (2,438,904) 2,421,715 1,354,148 (4,669,015) (3,793,052) (2,247,300) (2,438,904) 2,577,509,000 2,025,904,000

27 34,975,504 24,510,257 (21,538) (19,930) 34,953,966 24,490,327 1,167,316 954,224 (1,158) (1,202) 1,166,158 953,022 2015 172 (a) 36,120,124 25,443,349 (18,170,163) (12,542,067) (b) 17,949,961 12,901,282 (a) (b) 61,332,000181,160,000 664,313,000667,206,000 BT 8,588,196,000 8,146,093,0001,215,672,000 0 30 10,695,737 5,373,856 31 90 4,449,776 3,030,702 90 17,230,944 14,059,865 32,376,457 22,464,423 2,577,509 2,025,904 1,166,158 953,022 36,120,124 25,443,349 (18,170,163) (12,542,067) 17,949,961 12,901,282

27 16,704,856,00013,690,541,000 1,305,526,0001,111,393,000 BT 9090 91 180 33,041 181 365 251,240 86,934 365 438,197 549,654 689,437 669,629 22,696,000 21,132,000 2015 173 21,132 18,142 (1,236) 58 2,800 2,932 22,696 21,132

27 4,664,747 3,918,400 29,346,885 19,321,842 1,420,993 1,178,964 240,738 177,853 446,761 846,290 36,120,124 25,443,349 2015 174 28 29 10% 12%

30 291 682 23 20 8,014,873 7,451,746 8,015,187 7,452,448 291,000682,000 0.3% 0.35% 0.35% 0.385% 0.001% 0.00146% 0.97498% 0.001% 5.1% 0.001% 5.1% 2015 175 2,850,071 2,016,188 3,810,485 4,270,081 1,297,252 980,358 57,379 185,821 8,015,187 7,452,448

31 0 30 8,072,265 5,826,387 31 90 2,056,945 2,584,934 90 3,740,657 2,729,907 2015 176 13,869,867 11,141,228 5,986,535 4,282,776 2,069,820 1,837,314 21,926,222 17,261,318 2,011,899,0001,794,661,000 1,788,869,0001,812,070,000 660,002,000573,591,000 6060 2,673,649,000 1,842,466,000 6,364,435 4,781,162 14,107,905 11,325,294 1,182,653 736,003 60,904 77,259 210,325 341,600 21,926,222 17,261,318

32 2,267,388 2,462,752 11,626,503 8,486,321 13,893,891 10,949,073 (808,197) (587,269) 13,085,694 10,361,804 808,197 587,269 815,832 1,065,761 10,663,147 4,394,662 1,606,715 4,901,381 13,893,891 10,949,073 % % % % % % % % 2015 177 4.86 6.26 6.06 6.26 2.41 5.67 3.45 3.11 2.45 6.45 4.00 4.00

33 (a) 9,994,376 798,303 53,382 75,705 10,921,766 2015 178 (b) 1,054,992 5,811,514 571,629 7,438,135 (c) 102,330

33 BT 34 0.025 60,000,000,000 1,500,000 3,888,744,651 97,219 6,394,981 160 117,278,000 2,931 4,012,417,632 100,310 43,896,990 1,098 4,056,314,622 101,408 117,278,000 1,320,550,00011.26 2015 179

35 (a) (b) (c) (d) 8,117,735 (1,849,113) 337 3,058 63,842 1,235,920 190,051 8,074,587 15,836,417 2015 180 3,457,410 3,457,410 (9,954) (9,954) 4,838 4,838 (161,466) (161,466) (5,116) (161,466) 3,457,410 3,290,828 1,673 (392) 1,281 34 1,317,619 1,317,619 178,892 178,892 (467,088) (467,088) (428,163) (428,163) 21,172 (21,172) 1,319,292 178,892 (392) 21,172 (916,423) 602,541 9,437,027 (1,670,221) 337 2,666 58,726 1,074,454 211,223 10,615,574 19,729,786

35 (a) (b) (c) (d) 9,437,027 (1,670,221) 337 2,666 58,726 1,074,454 211,223 10,615,574 19,729,786 4,153,072 4,153,072 (375,127) (375,127) 362,598 362,598 (1,623,508) (1,623,508) (12,529) (1,623,508) 4,153,072 2,517,035 10,957 (2,160) 8,797 (506) 506 (601,863) (601,863) (527,321) (527,321) (81,126) (81,126) 52,261 (52,261) 10,957 (2,666) 52,261 (1,262,065) (1,201,513) 9,447,984 (1,670,221) 337 46,197 (549,054) 263,484 13,506,581 21,045,308 2015 181 (a) (i) Zetson Enterprises Limited COHL Value Idea Investments Limited (ii) 1.2645,500,000 76.2%74.1% 5,700 2,3003,400 (b) (c) (d) 730,137,000601,863,000

36 99.542%5.0038.60 3.125% 39.20 38.78 37 2015 182 796,531 778,460 57,921 42,652 738,610 735,808 796,531 778,460

38 225,824 154,216 55,127 33,104 280,951 187,320 359,451 384,724 7,791 4,753 367,242 389,477 9,420 248,590 19,430 67,630 42,459 5,158 (152,352) 6,958 247,293 (632) (85) 874 157 11 9,197 8,356 (10,021) (1,434) (4,522) (37,168) (9,701) (45,293) 18,617 256,314 9,324 66,196 37,937 5,158 (188,646) (2,743) 202,157 2015 183 18,617 256,314 9,324 66,196 37,937 5,158 (188,646) (2,743) 202,157 (8,239) 280 (3,596) 12,066 511 11 (1,014) (3,402) (4,514) 5,247 (6,998) (105,696) (116,377) 17,603 244,673 5,090 71,443 27,343 5,158 (282,276) (2,743) 86,291

38 280,951 187,320 (367,242) (389,477) (86,291) (202,157) 2015 184 (a) 843,675 804,705 (b) 3 111 843,678 804,816 (a) 412,660,000585,292,000 (b) 39 38,263,000319,247,000

40 52,180,0001.30% 30% 1% 0.1% 5,000,000 1.00 (i) (ii) (iii) 52,180,000 0.2544 2015 185 4,614 (4,614) 35,529 35,529 (46) (31,975) (3,508) 18,432 (1,781) 16,651 (11,922) (4,729) 58,575 (6,395) 52,180 (46) (43,897) (8,237)

40 2015 186 6,848 (6,395) 453 (46) (407) 9,523 9,523 (1,693) (7,830) 11,590 11,590 (11,590) 11,590 11,590 (11,590) 19,024 19,024 (19,024) 58,575 (6,395) 52,180 (46) (43,897) (8,237) 58,575 52,180 11.1012.27 0.245

41 46,500 32,556 42,543 13,349 89,043 45,905 36,991,00038,073,000 11,139,0009,598,000 2015 187 9,432 7,905 17,256 10,206 9,627 1,685 36,315 19,796 42 554,885 116,671

43 23 24 27 28 29 31 2015 188 14,684 14,824 14,785 17,163 360,154 23,752 23,382 4,413,982 2,864,093 1,112 2,099 4,354 19,273 72,042 418,905 132,695 618,582 131,582 2,757,716 2,958,048 574 1,793 109,257 122,969 22,322 14,951 27,806 111,174 772,012 25,280 66 90,569 1,702 12,000 1,365 473,022 584,921

43 52,230 52,248 252 246 2015 189 52,482 52,494

44 10,396,924 8,602,692 2015 190 243 31,520 5,519,912 6,198,748 651 602,583 7,114 6,123,389 6,237,382 10,680 10,116 1,579 10,680 11,695 6,112,709 6,225,687 16,509,633 14,828,379 101,408 100,310 10,271,985 10,128,069 10,373,393 10,228,379 6,136,240 4,600,000 16,509,633 14,828,379

44 8,117,735 337 3,058 580,295 8,701,425 1,002,995 1,002,995 1,673 (392) 1,281 1,317,619 1,317,619 (467,088) (467,088) (428,163) (428,163) 9,437,027 337 2,666 688,039 10,128,069 1,345,429 1,345,429 10,957 (2,160) 8,797 (506) 506 (601,863) (601,863) (527,321) (527,321) (81,126) (81,126) 9,447,984 337 823,664 10,271,985 2015 191

45 % % 2015 192 300,000,000 100 100 300,000,000 150,000 100 100 150,000 655,569,190 655,569,190 100 100 355,569,190 355,569,190 844,430,810 844,430,810 100 100 100 100 1 1 100 100 Zetson Enterprises Ltd 1 1 100 100

45 % % China State Construction Finance (Cayman) I Limited 1 1 100 100 1 1 100 100 19,999,900 199,999,000 100 100 4,999,900 49,999,000 100 1,000 5,000,000 50,000,000 100 100 1,999,900 19,999,000 100 1,000 100 100 2015 193 99,500,000 99,500,000 46,500,000 46,500,000 500,000 500,000 100 100

45 % % 1 1 100 100 2 2 100 100 2015 194 100,000,000 100 100 100,000,000 10,000,000 10,000,000 2 2 100 100 2 2 100 100 900,000 90,000,000 74.06 74.06 100 100 100 100 2 2 74.06 74.06 1 1 100 100

45 % % Barkgate Enterprises Limited 200 1 100 100 1 1 100 100 64,100,000 100 100 1 1 100 100 Citycharm Investments Limited 1 1 100 100 1 1 100 100 1 1 100 100 2015 195 1 1 100 100

45 % % Value Idea Investments Limited 1 1 100 100 2015 196 Weedon International Limited 1 1 100 100 Gamma Windows and Walls International, Inc. 100 53,362.36 40.73 40.73 (iii) 2,155,545,000 74.06 74.06 0.01 4,000,000 1 100 100 Far East Facade (UK) Limited 1 1 74.06 74.06

45 % % 300,000,000 100 100 COHL 200,000 100 100 CSFE 200,000 100 100 CSME 200,000 100 100 25,000 74.06 74.06 C.S.H.K. Dubai Contracting L.L.C. 1,000 1,000 100 100 2015 197

45 % % Gamma North Corporation 1 1 40.73 40.73 2015 198 Gamma USA, Inc. 1,000 0.001 40.73 40.73 (i) 10,770,000 100 100 (i) 680,660,000 100 100 (i) 350,000,000 100 100 (ii) 50,000,000 100 100

45 % % (i) 50,000,000 100 100 (ii) 10,000,000 100 100 (ii) 100,000,000 100 100 202,000,000 100 100 (ii) (ii) 200,000,000 100 100 (ii) 500,000,000 100 100 (i) 29,800,000 100 100 (ii) 878,000,000 100 100 2015 199 (ii) 48,000,000 100 100 (ii) 10,000,000 100 100

45 % % (ii) 380,000,000 100 100 (ii) 310,000,000 100 100 2015 200 (ii) 150,000,000 100 100 (ii) 120,000,000 100 100 (ii) 500,000,000 100 100 (ii) 200,000,000 100 100 (ii) 180,000,000 100 100 (ii) 50,000,000 100 100 (ii) 10,000,000 100 100 (ii) 10,000,000 74.06 74.06 (ii) 20,000,000 74.06 74.06

45 % % (ii)(iv) 100,000,000 100 (ii)(iv) 170,000,000 100 (ii)(iv) 100,000,000 100 (ii)(iv) 100,000,000 100 (ii)(iv) 100,000,000 100 (ii)(iv) 150,000,000 90 (ii)(iv) 100,000,000 100 (ii)(iv) 100,000,000 100 (ii)(iv) 100,000,000 100 (ii)(iv) 250,000,000 100 2015 201 (ii)(iv) 100,000,000 100 (i) (ii) (iii) (iv)

17,510,533 22,059,910 27,285,620 34,439,575 37,913,159 2015 202 1,679,150 2,278,536 3,140,029 4,185,291 4,867,047 359,002 413,284 430,228 294,345 423,728 13,702 18,255 21,941 23,787 72,462 (194,896) (255,601) (418,440) (455,829) (607,082) 1,856,958 2,454,474 3,173,758 4,047,594 4,756,155 (339,670) (405,095) (503,071) (659,716) (654,526) 1,517,288 2,049,379 2,670,687 3,387,878 4,101,629 1,514,514 2,044,337 2,749,551 3,457,410 4,153,072 2,774 5,042 (78,864) (69,532) (51,443) 1,517,288 2,049,379 2,670,687 3,387,878 4,101,629

2,211,357 2,523,107 2,672,357 2,827,300 2,771,990 41,063 40,044 39,085 38,073 36,991 673,224 915,049 1,186,012 1,489,188 1,536,372 282,836 277,795 280,063 273,022 269,816 2,506,098 2,630,927 2,149,893 3,449,034 3,573,662 29,237 36,156 48,757 2,104,943 3,800,193 4,926,465 5,501,701 6,353,833 6,530,992 6,044,202 151,027 187,320 280,951 9,950 252,551 226,596 200,640 186,025 577,664 577,664 577,664 577,664 490,842 497,861 543,642 453,286 239,503 240,000 296,827 356,085 361,471 399,645 411,838 281,858 919,473 3,186,846 8,141,167 12,901,282 17,949,961 500,000 108,043 127,550 804,918 12,686,630 17,097,999 23,397,291 32,249,500 37,657,231 14,759,220 21,269,340 29,052,920 34,329,607 32,407,304 27,445,850 38,367,339 52,450,211 66,579,107 70,064,535 2015 203 (4,961,268) (10,101,194) (8,600,258) (10,361,804) (13,085,694) (3,860,286) (3,869,804) (3,879,322) (421,938) (520,791) (638,802) (735,808) (738,610) (279,527) (365,778) (398,320) (389,477) (367,242) (4,938) (4,280) (3,480) (2,719) (5,662,733) (10,992,701) (13,501,946) (15,360,373) (18,073,587) (12,287,343) (13,612,234) (22,761,392) (31,221,072) (30,743,970) (17,950,076) (24,604,935) (36,263,338) (46,581,445) (48,817,557) 9,495,774 13,762,404 16,186,873 19,997,662 21,246,978

% (a) 1 3A 88 96 11 13 15,672 100 2015 204 (b) 39,057 100 1 3 22 23 (c) 1,057 100 245 201 (d) 1,134 100 1081 11 1104 (e) 70 76 A 11 24 6,542 100 (f) 26 36 109 115 1 11 6 215 16 16,175 100

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