2 3 4 6 10 24 31 46 57 58 67 69 70 72 73 75 77
2 2333 2266 15 9 183 46 24 30 18 86(312)-2197812 86(312)-2197812 www.gwm.com.cn
1,095,272,000 682,000,000413,272,000 H 500 2333 3
2008 2007 2006 2005 2004 8,210,581 7,579,356 4,918,622 3,809,958 3,184,614 1,489,350 1,795,929 1,236,891 1,000,690 887,946 584,638 1,044,203 742,656 561,568 552,969 513,143 937,451 702,844 441,007 402,917 0.47 0.91 0.74 0.47 0.43 30,000 25,000 20,000 15,000 10,000 5,000 0 2004 2005 2006 2007 2008 SUVCUV 4
2008 2007 2006 2005 2004 6,734 6,442 4,113 3,505 3,143 10,816 10,162 6,472 5,763 4,814 0 0 0 0 0 % # 7.6 14.6 17.1 12.6 12.8 % 4.7 9.2 10.9 7.7 8.4 % * 0 0 0 0 0 53 38 38 53 70 38 45 48 66 47 # * 2008 2007 2006 2005 2004 SUV CUV 5
6
7
Chairman s Statement 8,210,581,000 8.3% 513,143,000 45.3% 8
9
10
11
50% 100% 9,345,1009,380,5005.21% 6.70% 16.8115.14 12
1.6L50%1.6L 60% 1.6L 8,210,581,000 8.3% % % 63,235 3,447,344 42.0 54,955 2,905,415 38.3 SUV CUV) 44,006 3,628,096 44.2 51,855 4,262,922 56.2 9,754 367,826 4.5 3,451 258,253 3.1 1,010 106,216 1.5 509,062 6.2 304,803 4.0 120,446 8,210,581 100.0 107,820 7,579,356 100.0 120,446107,82011.7% 63,23554,955 15.1% SUV44,00651,855 15.1%9,754 3,451 SUV 13
304,803,000 67.0%509,062,000 9.0% 1,795,929,00017.1%1,489,350,000 23.7% 18.1%(1) (2)(3) 937,451,000513,143,000 0.47 14
590,957,000 27.5% 753,701,0007.8% 9.2% (1) (2) (3) 10,267,0008,428,000 2,092,465,000 251,936,000 876,392,000958,101,000 108,124,000107,000,000 15
689,366,000 13,120,000937,889,000 8,537,000 1,318,212,000 1,413,364,00040,692,000 16
19,782 6.3% 36,838,000 9.1%33,478,000 90% 4,750,312 3,460,269 8,210,581 4,483,953 3,095,403 7,579,356 SUVSUV 120,44611.7% 17
(1) 9,754 (2) 63,235 15.1%3,447,344,000 18.7% (3) SUV SUVSUV 44,006 15.1%3,628,096,000 14.9% (4) 509,062,000 67.0% 6.2% (5) 258,253,000 143.1% 68,21611.0%4,376,895,000 3.5%SUV 6,80035,23023,299254,329,000 18
1,944,021,0001,959,932,000(1)(2) 3,990,847,000386,048,000 % % 61,639 3,990,847 91.2 59,337 4,084,647 96.6 6,577 386,048 8.8 2,145 143,795 3.4 68,216 4,376,895 100.0 61,482 4,228,442 100.0 % % 965,203 22.1 726,569 17.2 413,423 9.4 397,470 9.4 452,196 10.3 434,725 10.3 757,306 17.3 639,664 15.1 918,897 21.0 1,047,569 24.8 869,870 19.9 982,445 23.2 4,376,895 100.0 4,228,442 100.0 19
52,23012.7%3,324,624,000 9.1%40.5% SUV 28,005 20,707 1,503,323,000 1,668,164,0008.9% 2.2%SUV45.2% 50.2% 118 20
1.6L MPV 20 092.5TCI VCA 21
SUV SUV SUV 1.6L SUV KD 22
SUV A A A 23
45 59 38 24
63 42 32 34 58 25
28 43 43 CAD/CAE 54 10 26
46 OCU MBA (Senior International Finance Manager) 47 International Journal of ITS Research (HEV) 9 45 64 27
49 49 37 40 39 39 28
36 39 38 45 KIA MOTECH FIAT 61 46 29
35 30
SUV 18 67 152 0.08 0.07 H 10% H H 31
8,210,581 7,579,356 4,918,622 3,809,958 3,184,614 (6,721,231) (5,783,427) (3,681,731) (2,809,268) (2,296,668) 1,489,350 1,795,929 1,236,891 1,000,690 887,946 143,599 62,443 66,798 42,003 35,206 (461,665) (354,340) (241,950) (219,300) (170,302) (292,036) (236,617) (178,030) (155,392) (127,761) (291,181) (235,372) (151,681) (111,571) (71,501) (10,267) (8,428) (1,732) (669) (619) 2,683 13,776 12,362 5,807 4,155 6,812 (2) 584,638 1,044,203 742,656 561,568 552,969 (33,478) (36,838) (9,799) (69,659) (69,160) 551,160 1,007,365 732,857 491,909 483,809 513,143 937,451 702,844 441,007 402,917 38,017 69,914 30,013 50,902 80,892 551,160 1,007,365 732,857 491,909 483,809 10,816,318 10,162,412 6,471,716 5,763,102 4,813,891 3,798,876 3,304,621 2,011,673 1,912,552 1,319,909 32
10.65151,072,000 H(H 1,542,460,0001,576,738,000 275.10 398.22 97.21 57.43 827.97 33 14 33
34 1,604,664,000164,291,000 2,558,856,000 5,492,000 4.88% 15.09% 13.7% 27.73% 30% 5% 34
35
24 30 3.13 40 1. 6,000 19.6% 2. 3,375 36
18,750 3. 3,675 18,750 XV7 8 352 H % % % 417,610,760(L)* 61.23 38.13 417,610,760(L)* 61.23 38.13 (L) * 37
417,610,760 XV78 352 3 H 1,694 1,697 38
336 H % % % 1 417,610,760(L)* 61.23 38.13 2 264,389,240(L)* 38.77 24.14 3 264,389,240(L)* 38.77 24.14 4 35,690,760(L)* 5.23 3.26 Cheah Capital Management Limited 57,861,000(L) 14.00(L) 5.28 Cheah Company Limited 57,861,000(L) 14.00(L) 5.28 Hang Seng Bank Trustee International Limited 57,861,000(L) 14.00(L) 5.28 Value Partners Group Limited 57,861,000(L) 14.00(L) 5.28 Value Partners Limited 57,861,000(L) 14.00(L) 5.28 57,861,000(L) 14.00(L) 5.28 57,861,000(L) 14.00(L) 5.28 JPMorgan Chase & Co. 49,030,600(L) 11.86(L) 4.48 47,950,600(P) 11.60(P) 4.38 Sanlam Universal Funds plc 33,105,500(L) 8.01(L) 3.02 UBS AG 32,566,500(L) 7.88(L) 2.97 780,040(S) 0.19(S) 0.07 TOSCA Asia 24,946,000(L) 6.04(L) 2.28 Toscafund Global Limited 24,946,000(L) 6.04(L) 2.28 Alliance Bernstein L.P. ( Alliance Capital Management L.P. 24,687,500(L) 5.97(L) 2.25 (L) (S) (P) * 39
(1) 7,638,400 1588 (2) 150,000638 (3) 17,260,000 210 (4) 120,000,000 2 336 37.73% 1. 40
2. 3. 4. 1. 2. 3. 4. 1. 122,000 109,916 2. 122,000 90,736 3. 122,000 42,737 41
42 19.6% 2008 1 31 24.5% 60,000,000 2008 1 31 19.6% 2008 1 31 24.5% 60,000,000 2008 1 31 75% 2008 4 3 3.26% 75% 750,000 2008 4 3 2008 4 3 25% 9,000,000 2008 4 3 2008 4 3 25% 33,750,000 2008 4 3 75% 2008 4 3 34.87% 750,000 2008 4 3 2008 4 3 25% 36,750,000 2008 4 3 2008 7 30 25% 1,180,000 2008 7 30 2008 9 26 3.26% 23,723,510 2008 9 26
42 3 6 8 40,000 83 7,541.607110,092.15 6512,248.50 43
10 44
45
A. 3.13 24 30 35 46
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 47
(11) (12) 48
14 4 49
4 4 100% 4 100% 4 100% 4 100% 4 100% 4 100% 4 100% 4 100% 4 100% 4 100% 4 100% 100% 50
7 7 100% 7 100% 7 100% 7 100% 7 100% 7 100% 7 100% 7 100% 7 100% 7 100% 7 100% 100% H 51
B. 1 1 100% 1 100% 1 100% 100% 52
C. D. 1 2 53
231 63 54
1 1 100% 1 100% 1 100% 1 100% 100% 1 1 100% 1 100% 1 100% 1 100% 100% 20082008 55
2007 2007 E. 56
1. 2. (1) (2) (3) 57
2266 1. 2. 0.08 0.07 3. 4. 5. 6. 7. 8. 9. (1) H (a) 58
(b) H (I) 20%136,400,000 (II) H20%82,654,400 H (c) (2) (1) (a) (I) (II) (III) (IV) (V) (VI) (VII) 59
(b) (1) (c) 1.00 H 1.00 (a) (b) (c) 10. 11. (1) 11 11 60
(2) 59 (3) 62 ( ) ( ) 61
(4) 63 (5) 191 (1) (2) (3) (4) 62
(1) (2) (3) (4) (5) (6) (6) 192 H 7 63
H 7 (7) 196 H H 64
(A) H H 183 17 1712 1716 (B) H20 2266 (86-312) 2197813 (86-312) 2197812 (C) H (D) (E) 24H 18318 1806 1807 (F) (C) (D) 24 (B) 65
(G) (H) 66
69 152 67
8 2 18 68
4, 5 8,210,581 7,579,356 (6,721,231) (5,783,427) 1,489,350 1,795,929 5 143,599 62,443 (461,665) (354,340) (292,036) (236,617) (291,181) (235,372) 7 (10,267) (8,428) 2,683 13,776 4,155 6,812 6 584,638 1,044,203 10 (33,478) (36,838) 551,160 1,007,365 11 513,143 937,451 38,017 69,914 551,160 1,007,365 12 164,291 219,054 13 0.47 0.91 69
14 2,775,611 1,597,425 15 854,615 283,578 16 1,830,388 2,173,680 17 2,164 2,164 19 178,015 154,226 20 17,767 10,403 21 1,200 31 73,174 67,680 5,732,934 4,289,156 22 876,392 957,633 23 251,936 152,210 24 958,101 657,763 21 107,000 210,000 108,124 77,273 25 689,366 506,314 26 575,941 238,486 26 1,516,524 3,073,577 5,083,384 5,873,256 27 1,413,364 1,712,381 28 1,318,212 457,395 8,537 33,254 29 937,889 984,919 13,120 7,384 30 40,692 39,396 3,731,814 3,234,729 1,351,570 2,638,527 7,084,504 6,927,683 32 67,062 69,892 67,062 69,892 7,017,442 6,857,791 70
33 1,095,272 1,095,272 34 5,474,839 5,127,715 12 164,291 219,054 6,734,402 6,442,041 283,040 415,750 7,017,442 6,857,791 71
34(i) 944,200 1,170,400 (10,092) 848,878 1,008,807 151,072 4,113,265 346,779 4,460,044 H 151,072 1,391,388 1,542,460 1,542,460 (63) (63) (63) 937,451 937,451 69,914 1,007,365 12,662 12,662 (6,572) 6,572 180,723 (180,723) (13,605) (13,605) (151,072) (151,072) (151,072) (219,054) 219,054 1,095,272 2,561,788* (16,664)* 1,029,601* (63)* 1,553,053* 219,054 6,442,041 415,750 6,857,791 (1,728) (1,728) (1,728) 513,143 513,143 38,017 551,160 (134,998) (134,998) (10,708) 10,708 (35,729) (35,729) (219,054) (219,054) (219,054) (164,291) 164,291 1,095,272 2,561,788* (16,664)* 1,018,893* (1,791)* 1,912,613* 164,291 6,734,402 283,040 7,017,442 * 5,474,839,000 5,127,715,000 72
584,638 1,044,203 (2,683) (13,776) (4,155) (6,812) 5 (231) 5 (13,517) 24,694 24,692 7 136 5 (4,639) (2,348) 5 (8,334) (1,092) 5 (594) 5, 6 387 (274) 5 (7,244) 6 230,731 168,404 6 7,134 4,882 6 (2,399) (2,178) 6 37,677 15,839 30 28,525 24,031 870,720 1,254,977 (30,033) (369,020) (97,486) (120,199) (300,338) (169,977) 75,180 (219,359) (289,991) 784,173 860,817 216,930 (140,978) 66,635 (27,229) (17,343) 920,662 1,426,817 (94,540) (139,961) 826,122 1,286,856 73
(1,105,673) (1,448,575) (664,723) (36,812) 35 4,960 (120,000) (3,468) (13,420) (97,000) (268,200) (210,000) 5,403 5,286 2,600 1,457 370,000 4,134 4,947 5 8,334 1,092 32 6,060 16,729 (1,772,312) (1,764,557) H 1,542,460 3,594 (3,594) (136) 1,250 (29,524) (4,722) (219,054) (153,720) (248,714) 1,385,268 (1,194,904) 907,567 3,312,063 2,429,188 (24,694) (24,692) 2,092,465 3,312,063 26 2,092,465 3,312,063 74
14 2,070,377 957,282 15 479,817 225,630 16 1,759,963 2,059,795 18 1,014,628 316,855 19 130,405 126,405 20 16,575 3,591 21 1,200 31 17,407 11,513 5,490,372 3,701,071 22 437,167 441,062 23 248,936 134,472 24 566,776 347,680 21 190,000 13,244 8,012 91,309 72,502 25 659,101 463,659 26 462,503 92,449 26 938,447 2,683,705 3,417,483 4,433,541 27 1,457,923 1,663,422 28 1,003,555 182,510 29 621,954 636,258 30 26,857 26,538 3,110,289 2,508,728 307,194 1,924,813 5,797,566 5,625,884 32 67,062 69,892 67,062 69,892 5,730,504 5,555,992 75
33 1,095,272 1,095,272 34 4,470,941 4,241,666 12 164,291 219,054 5,730,504 5,555,992 76
1. 2266 413,272,000 1H 2.1 77
2.2 39 7 11 12 14 39 7 2 19 (a) 397 39 7 78
2.2 (b) 11 2 11 (c) 12 (d) 14 19 19 79
2.3 1 27 2 1 27 1 2 1 3 2 7 1 8 1 5 939 1 1 23 1 27 2 321 39 13 15 16 17 18 32 1 1 39 2 3 1 4 2 6 * 5 1 2 3 4 5 6 * 5 71 81016181920 2327282931 3436383940 41 80
2.3 81 3 27 3.1 (a) (b) (c) 20% (d) 39 20% 81
3.1 20% 82
3.1 83
3.1 (a) (i) (ii)(iii) (b) (c) (d) (e) (a) (d) (f) (d) (e)(d) (e) 84
3.1 2.40% 11.90% 9.50% 19.00% 9.50% 15.80% 19.00% 85
3.1 39 86
3.1 (a)(b) 87
3.1 88
3.1 (a) (b) 89
3.1 90
3.1 91
3.1 92
3.1 (a) (b) (c) 93
3.1 3.2 94
3.2 3.1 107,000,000 210,000,000 95
3.2 416,776,000 448,809,000 31 40,692,000 39,396,000 30 4. (1)(2) 90% 4,750,312 3,460,269 8,210,581 4,483,953 3,095,403 7,579,356 96
5. 7,701,519 7,274,553 509,062 304,803 8,210,581 7,579,356 77,983 37,288 32 4,639 2,348 * 31,651 20,847 8,334 1,092 594 7,244 274 35 231 13,517 143,599 62,443 * 97
6. 6,721,231 5,783,427 14 230,731 168,404 15 7,134 4,882 61 3,864 5,516 8 465,450 319,379 48,786 24,502 514,236 343,881 30 28,525 24,031 268,046 208,132 10,524 29,418 37,677 15,839 387 (274) (2,399) (2,178) 7. 136 10,131 8,428 10,267 8,428 98
8. 161 48 1,012 1,106 9 6 1,069 1,112 (a) 16 48 16 48 16 48 32 32 32 211 231 355 375 99
8. (b) 176 3 179 100 100 142 3 145 55 3 58 91 91 48 48 93 93 48 657 9 714 184 2 186 104 104 148 2 150 52 2 54 97 97 48 48 98 98 731 6 737 100
9. 2 2 3 3 8 882,0001,000,000 617 497 617 497 10. 38,972 43,582 31 (5,494) (25,360) 18,616 33,478 36,838 101
10. 25% 33%) 60,631,000 49,614,000 106,657,000 102
10. % % 584,638 1,044,203 146,160 25.0 344,587 33.0 (1,709) (0.3) (6,794) (0.7) (32,457) (5.6) (36,723) (3.5) 245 2,645 0.3 6,206 1.1 12,493 1.2 (2,920) (0.5) (7,723) (1.3) 18,616 1.8 (74,324) (12.7) (297,986) (28.5) 33,478 5.7 36,838 3.6 50,000 41,000 17%0% 3% 5% 9% 12% 103
11. 393,566,000 803,435,000 34 12. 0.15 0.20 164,291 219,054 13. 513,143,000 937,451,0001,095,272,000 1,032,325,333 104
14. 730,075 1,219,582 37,327 247,958 2,234,942 14,316 62,466 10,809 37,137 124,728 16 469,774 605,064 37,926 177,365 1,290,129 (433) (7,473) (2,781) (2,160) (12,847) 1,213,732 1,879,639 83,281 460,300 3,636,952 102,379 444,935 15,047 75,156 637,517 33,062 144,095 6,192 47,382 230,731 (351) (3,257) (1,512) (1,787) (6,907) 135,090 585,773 19,727 120,751 861,341 1,078,642 1,293,866 63,554 339,549 2,775,611 691,357 1,026,113 34,190 166,551 1,918,211 4,491 21,430 2,451 4,824 33,196 16 39,201 175,088 3,960 77,085 295,334 (4,974) (3,049) (3,274) (502) (11,799) 730,075 1,219,582 37,327 247,958 2,234,942 79,617 340,475 12,843 42,965 475,900 25,443 106,412 3,933 32,616 168,404 (2,681) (1,952) (1,729) (425) (6,787) 102,379 444,935 15,047 75,156 637,517 627,696 774,647 22,280 172,802 1,597,425 105
14. 473,596 510,787 11,269 183,483 1,179,135 12,833 44,986 28,292 86,111 16 428,192 569,509 37,203 162,265 1,197,169 (5,526) (34,251) (2,829) (42,606) 914,621 1,119,756 14,221 371,211 2,419,809 40,331 122,026 4,205 55,291 221,853 19,640 76,038 2,586 35,207 133,471 (2,296) (1,966) (1,630) (5,892) 59,971 195,768 4,825 88,868 349,432 854,650 923,988 9,396 282,343 2,070,377 451,988 453,447 8,318 136,805 1,050,558 34 591 2,659 3,284 16 21,909 63,808 2,454 44,136 132,307 (301) (6,502) (94) (117) (7,014) 473,596 510,787 11,269 183,483 1,179,135 27,025 73,945 3,339 28,149 132,458 13,415 48,307 877 27,222 89,821 (109) (226) (11) (80) (426) 40,331 122,026 4,205 55,291 221,853 433,265 388,761 7,064 128,192 957,282 106
15. 283,578 254,248 585,244 36,812 (2,600) (3,555) (3,518) (7,134) (4,882) 854,615 283,578 225,630 199,930 266,020 36,812 (2,600) (5,300) (3,555) (3,518) (4,760) (3,212) 479,817 225,630 107
16. 2,173,680 870,428 946,837 1,598,586 14 (1,290,129) (295,334) 1,830,388 2,173,680 2,059,795 719,039 897,337 1,473,063 14 (1,197,169) (132,307) 1,759,963 2,059,795 17. 2,164 2,164 2,164 2,164 2,164 2,164 2,164 2,164 SUV CUV 108
18. 1,014,628 316,855 25 27 28 29 177,550 52.97 53,910 100 40,816 90.2 23,000 100 # 40,720 75 109
18. 32,420 100 # 28,000 75 # 1,000 75 300 100 8,000 100 # 20,339 51 15,300 51 (i) 500 5 95 50 100 110
18. 50 100 # 600 75 # 300,000 100 (ii) 420,000 75 (i) 1,000 100 476 100 50,000 100 (iii) 500,000 100 111
18. (iii) 60,000 100 (iv) 0.1 100 #(iv) 300,000 100 #(iv) 13,000 75 25 #(iv) 1,000 75 25 #(iv) 1,000 75 25 # (i) (ii) 25% (iii) (iv) 35 112
19. 130,405 126,405 178,015 154,226 178,015 154,226 130,405 126,405 27 28 49 49 49 50 50 50 50 50 50 45 45 45 113
19. 450,00045% 8,970,0003,555,000 23.55% 21.45% 8,580,000 21.45% 45% 37,822 78,117 151,952 106,667 (11,759) (30,558) 178,015 154,226 84,910 81,319 (82,197) (67,584) (30) 41 2,683 13,776 114
20. 16,575 3,591 17,767 10,403 17,767 10,403 16,575 3,591 27 28 25 25 25 32 32 32 25 25 25 35 115
20. 15,073 2,861 18,513 18,668 (15,819) (11,126) 17,767 10,403 48,141 39,110 (43,966) (32,298) (20) 4,155 6,812 21. 1,200 107,000 210,000 1,200 190,000 90,000,000 210,000,000 17,000,000 116
22. 353,495 361,546 116,746 215,952 413,150 433,226 15,505 12,832 898,896 1,023,556 (22,504) (65,923) 876,392 957,633 119,080,000 145,660 137,739 38,471 63,834 262,408 236,161 3,728 3,328 450,267 441,062 (13,100) 437,167 441,062 67,667,000 117
23. 262,241 164,558 (10,305) (12,348) 251,936 152,210 90 249,742 150,044 5,945 3,661 6,554 10,853 262,241 164,558 (10,305) (12,348) 251,936 152,210 12,348 14,115 6,516 1,366 197 (522) (8,756) (2,611) 10,305 12,348 118
23. 10,305,000 12,348,00014,280,000 13,806,000 247,961 150,752 3,975 1,458 251,936 152,210 1,258,000 1,213,000 256,836 138,160 (7,900) (3,688) 248,936 134,472 119
23. 248,483 133,963 3,812 2,320 4,541 1,877 256,836 138,160 (7,900) (3,688) 248,936 134,472 3,688 2,773 5,687 915 (1,475) 7,900 3,688 7,900,000 3,688,00011,655,000 5,032,000 120
23. 245,181 133,128 3,755 1,344 248,936 134,472 616,000 24. 407,501 299,114 550,600 358,649 958,101 657,763 274,485,000 227,500,000) 121
24. 238,392 92,014 328,384 255,666 566,776 347,680 25. 401,065 245,153 173,737 183,689 117,909 80,976 692,711 509,818 (3,345) (3,504) 689,366 506,314 3,504 4,437 514 (673) (933) 3,345 3,504 122
25. 287,617 260,617 684 544 288,301 261,161 41,155,000 1,074,000 446,757 185,146 173,621 182,669 39,989 97,270 660,367 465,085 (1,266) (1,426) 659,101 463,659 123
25. 1,426 2,359 514 (674) (933) 1,266 1,426 211,660 277,969 684 544 212,344 278,513 164,804 33,000 178 197,804 178 124
26. 1,371,965 1,964,463 720,500 1,347,600 2,092,465 3,312,063 (575,941) (238,486) 1,516,524 3,073,577 575,941 238,486 2,092,465 3,312,063 891,950 1,428,554 509,000 1,347,600 1,400,950 2,776,154 (462,503) (92,449) 938,447 2,683,705 125
27. 1,308,421 1,625,982 12,595 37,485 56,643 13,023 35,705 35,891 1,413,364 1,712,381 90 3,861 21,394 34,705 21,102 21,744 11,917 60,310 54,413 126
27. 1,273,230 1,512,079 44,653 119,863 119,609 2,786 20,431 28,694 1,457,923 1,663,422 90 713,684 768,483 2,144 19,728 23,049 20,469 390 3,495 739,267 812,175 127
28. 859,619 175,250 458,593 282,145 1,318,212 457,395 14,360 3,590 100 315 50 18,265 150 692,087 83,800 311,468 98,710 1,003,555 182,510 128
28. 7,100 12,630 3,590 230 50 23,550 50 29. 355,013 455,416 23,589 60,387 32 4,251 555,036 469,116 937,889 984,919 7,961,000 2,419,000 129
29. 223,901 288,315 14,858 39,501 32 4,251 378,944 308,442 621,954 636,258 161,424 202,386 224 195 161,648 202,581 130
30. 39,396 32,708 28,525 24,031 (27,229) (17,343) 40,692 39,396 26,538 23,436 12,800 9,235 (12,481) (6,133) 26,857 26,538 24 50,000 0.5% 1% 131
31. 67,680 60,936 10 5,494 25,360 (18,616) 73,174 67,680 2,267 3,235 23,639 16,417 7,696 9,413 242 238 9,007 7,112 9,393 9,020 2,462 9,786 19,783 3,750 2,462 4,681 251 73,174 67,680 416,776,000 448,809,000 132
31. 11,513 11,036 10 5,894 2,780 (2,303) 17,407 11,513 1,146 639 1,637 7,124 6,313 4,905 4,561 2,462 133 17,407 11,513 381,732,000 402,829,000 133
32. 75,162 58,433 6,060 16,729 81,222 75,162 5,270 2,922 5 4,639 2,348 9,909 5,270 71,313 69,892 29 4,251 67,062 69,892 33. 682,0000 682,000 682,000 H 413,272 413,272 413,272 1,085,272 1,085,272 1,085,272 134
34. 72 (i) 1,170,400 (19,498) 410,754 704,241 2,265,897 H 1,391,388 1,391,388 803,435 803,435 81,989 (81,989) (4,465) 4,465 (219,054) (219,054) 2,561,788 (23,963) 492,743 1,211,098 4,241,666 393,566 393,566 (164,291) (164,291) 2,561,788 (23,963) 492,743 1,440,373 4,470,941 (i) (ii) 10%50% 25% 983,000 8,014,000 135
35. (a) 750,000 75% (b) 750,000 75% (c) 1,180,0008,065,000 100% 975,000 25% 25% 25% 25% 25% 25% 231,000 25% 136
35. 8,269 6,656 3,006 (6,635) 11,296 (231) 11,065 * (3,309) 8,269 4,960 * 7,756,000 8,210,581,000 551,160,000 137
36. (a) 3,518,000 (b) 3,555,000 21.45% 37. 1. Nuora Panda model (1)(2)15,000 50,000 (3) (4) (1) (2) (3) (4)(5) (6) 340 2009 7 14 138
37. 2. 3 3. CUV 15,000 130,000 4. 7,690,000 20,000 (1) 7,690,00020,000(2) 139
37. 5. (1) (2) 15,788,500 4,466,000 (1)11,720,000(2) 9,595,934 (3) [ (2008) 8 ] 6. 200630003744.5 140
38. 61 461 461 61 461 461 39. 38 (a) 1,081,954 970,325 723,944 949,505 1,549,095 4,481,788 894,834 4,166,462 2,631,049 5,452,113 1,618,778 5,115,967 2,320,513 5,452,113 1,618,778 5,115,967 310,536 2,631,049 5,452,113 1,618,778 5,115,967 141
39. (a) 34,851 13,532 (b) (1) 788,660,000 5 (2) 168,189 138,820 7,870 176,059 138,820 142
40. (i) (a) 90,736 65,441 (b) 4 2 (b) 316 (b) 99 73 (a) 2 (i) (a) 574 1,174 (b) 26 (b) 7 1 (b) 5 (i) (b) 1 (i) (b) 84,006 785 (b) 2 (b) 3,580 (b) 12,811 (b) 758 (b) 455 43 (b) 204 12 (a) 212 29 (i) (b) 25,910 118,586 (i) (a) 132 119 (a) 151 221 (b) 7 (b) 33 143 (i) (b) 994 1,069 (b) 467 380 143
40. (i) (b) 1,321 835 (b) 55 332 (b) 35 3 (a) 15 (a) 2 1 (b) 1,200 (i) (i) (a) 41 73 (a) 4,027 369 (a) 35 (i) (b) 1 (i) (b) 37 (ii) * (a) 171,417 160,988 * (a) 19 4 * (a) 1,068 247 (ii) * (a) 40 144
40. (ii) * (a) 75 (ii) (b) 110 80 (iii) (b) 102 (iii) * * (a) (a) 42 176,872 78 157,413 * (a) 3 397 * (a) 590 157 (iii) * (a) 24,992 * (a) 5,143 * (a) 1,859 * (a) 3 * (a) 15 (iv) (b) 37 (b) 119 (iv) 145
40. (v) (b) 404 146 (v) (b) 1,317 (a) 42,737 (vi) (a) 29 (a) (b) (i) (ii) (iii) (iv) (v) (vi) 146
40. (1) 120,000,000 19.6% 51% 51% 90.2% 13,517,000 (2) 450,000 45% (3) 750,000 75% 35(a) (4) 750,000 75% 35(b) (5) 1,180,0008,065,000 100% 975,000 35(c) * 14A 2,195 1,821 33 28 2,228 1,849 147
40. 8 23 25 27 28 29 41. 23% 35%66%71%) 23 25 148
41. 1,413,364 1,413,364 1,318,212 1,318,212 555,036 555,036 3,286,612 3,286,612 1,712,381 1,712,381 457,395 457,395 469,116 469,116 2,638,892 2,638,892 1,457,923 1,457,923 1,003,555 1,003,555 378,944 378,944 2,840,422 2,840,422 1,663,422 1,663,422 182,510 182,510 308,442 308,442 2,154,374 2,154,374 149
41. 42.1% 40.8% 5% (8,904) (5%) 8,904 5% (6,852) (5%) 6,852 5% (558) (5%) 558 5% (448) (5%) 448 150
41. 1,413,364 1,712,381 1,318,212 457,395 578,625 529,503 13,120 7,384 (1,516,524) (3,073,577) (575,941) (238,486) 1,230,856 (605,400) 6,738,566 6,442,041 7,969,422 5,836,641 15% 10% 151
42. (a) 30,000,000 9.8% (b) 40,720,000 28,000,000 75% 25% 68,720,000 2009 2 18 (c) 194,000,000214,000,000 20,000,000 50% 54.67% 43. 152