,722,649 2,774, % 5,504,418 5,422, % (%) 31.78% 30.45% % 29.87% , , %

6 30 3 6 30 6 2014 2013 2014 2013 2,722,649 2,774,574 1.87% 5,504,418 5,422,795 1.51% (%) 31.78% 30.45% 1.33 31.07% 29.87% 1.20 865,393 844,809 2.44% 1,710,493 1,619,931 5.59% (EBITDA) 339,228 287,584 17.96% 703,414 582,570 20.74% 164,129 127,633 28.59% 336,999 244,734 37.70% 103,547 91,779 12.82% 231,906 196,655 17.93% 1.85 1.64 0.21 4.14 3.52 0.62 1.84 1.64 0.20 4.13 3.50 0.63 2014 6 30 1,576,991 0.11 2014 6 30 3 6 2013 2014 1

2014 6 30 3 6 2014 2014 2013 2013 4 6 1 6 4 6 1 6 2 2,722,649 5,504,418 2,774,574 5,422,795 (1,857,256) (3,793,925) (1,929,765) (3,802,864) 865,393 1,710,493 844,809 1,619,931 76,865 109,774 82,386 107,684 (591,573) (1,105,475) (626,540) (1,130,285) (86,670) (168,770) (87,757) (173,934) (42,011) (69,685) (31,195) (46,282) 5 (10,039) (20,900) (8,913) (19,156) 7,929 9,472 4,203 5,779 5 219,894 464,909 176,993 363,737 6 (55,765) (127,910) (49,360) (119,003) 164,129 336,999 127,633 244,734 103,547 231,906 91,779 196,655 60,582 105,093 35,854 48,079 164,129 336,999 127,633 244,734 7 1.85 4.14 1.64 3.52 1.84 4.13 1.64 3.50 2

2014 6 30 3 6 2014 2014 2013 2013 4 6 1 6 4 6 1 6 164,129 336,999 127,633 244,734 12,159 (104,649) 43,022 54,298 3,951 11,173 (14,397) (14,397) 12,159 (104,649) 32,576 51,074 176,288 232,350 160,209 295,808 113,084 155,335 112,903 232,995 63,204 77,015 47,306 62,813 176,288 232,350 160,209 295,808 3

2014 6 30 2014 2013 6 30 12 31 6,103,751 5,485,100 332,211 318,961 27,681 28,058 31,990 29,050 76,742 80,276 53,720 24,683 52,135 48,105 6,678,230 6,014,233 1,103 4,952 472,826 480,862 9 345,084 260,427 454,236 413,957 23,940 15,491 1,553,051 1,234,399 2,850,240 2,410,088 9,528,470 8,424,321 4

2014 2013 6 30 12 31 10 27,999 27,982 58,935 53,431 2,755,765 2,798,879 2,842,699 2,880,292 1,084,606 1,046,095 3,927,305 3,926,387 11 940,812 659,643 76,126 262 29,836 28,186 206,602 184,389 1,253,376 872,480 12 1,468,445 1,251,710 1,829,130 1,192,428 11 939,875 1,016,636 55,734 108,354 54,605 56,326 4,347,789 3,625,454 5,601,165 4,497,934 9,528,470 8,424,321 (1,497,549) (1,215,366) 5,180,681 4,798,867 5

2014 6 30 6 2013 1 1 27,964 66,656 2,449,530 2,544,150 945,035 3,489,185 196,655 196,655 48,079 244,734 39,564 39,564 14,734 54,298 11,173 11,173 11,173 (14,397) (14,397) (14,397) 36,340 36,340 14,734 51,074 232,995 232,995 62,813 295,808 7,992 7,992 7,992 5 1,584 (388) 1,201 1,201 2012 (18,832) (161,291) (180,123) (23,286) (203,409) 5 (17,248) (153,687) (170,930) (23,286) (194,216) 2013 6 30 27,969 49,408 2,528,838 2,606,215 984,562 3,590,777 6

2014 6 30 6 2014 1 1 27,982 53,431 2,798,879 2,880,292 1,046,095 3,926,387 231,906 231,906 105,093 336,999 (76,571) (76,571) (28,078) (104,649) (76,571) (76,571) (28,078) (104,649) 155,335 155,335 77,015 232,350 7,206 7,206 7,206 17 5,504 (1,331) 4,190 4,190 2013 (204,324) (204,324) (38,504) (242,828) 17 5,504 (198,449) (192,928) (38,504) (231,432) 2014 6 30 27,999 58,935 2,755,765 2,842,699 1,084,606 3,927,305 7

2014 6 30 6 2014 2013 1 6 1 6 999,598 1,015,829 (594,810) (418,381) (77,687) (27,718) 327,101 569,730 1 1 1,249,890 837,898 6 30 1,576,991 1,407,628 1,553,051 1,389,500 23,940 18,128 1,576,991 1,407,628 8

1. 34 2013 12 31 2014 1 1 2013 12 31 10 12 27 2011 32 36 39 21 2. 9

3. 2014 6 30 6 2,033,801 3,332,107 89,615 48,895 5,504,418 25 381 57 44,302 (44,765) 2,033,826 3,332,488 89,672 93,197 (44,765) 5,504,418 220,860 251,593 (5,698) (8,365) (841) 457,549 14,911 (5,439) 9,472 (2,112) (2,112) 220,860 266,504 (11,137) (10,477) (841) 464,909 (59,630) (69,494) 485 729 (127,910) 161,230 197,010 (10,652) (9,748) (841) 336,999 2013 6 30 6 1,992,919 3,249,603 99,085 81,188 5,422,795 26 625 24 49,503 (50,178) 1,992,945 3,250,228 99,109 130,691 (50,178) 5,422,795 218,814 127,188 (5,308) 20,970 (3,706) 357,958 6,637 (858) 5,779 218,814 133,825 (6,166) 20,970 (3,706) 363,737 (64,128) (46,338) 274 (8,811) (119,003) 154,686 87,487 (5,892) 12,159 (3,706) 244,734 10

3. 2014 6 30 3,293,718 5,335,919 155,672 1,478,369 (898,763) 9,364,915 29,440 2,550 31,990 56,914 19,828 76,742 54,823 9,528,470 1,028,407 3,371,363 57,460 1,958,865 (844,766) 5,571,329 29,836 5,601,165 2013 12 31 3,420,533 5,075,114 182,198 839,614 (1,232,099) 8,285,360 25,628 3,422 29,050 57,883 22,393 80,276 29,635 8,424,321 1,290,983 3,179,545 77,143 1,106,220 (1,184,143) 4,469,748 28,186 4,497,934 4. 6 8 11

5. 2014 2014 2013 2013 4 6 1 6 4 6 1 6 10,039 20,900 8,913 19,156 125,671 249,288 112,930 218,141 2,058 4,083 1,850 3,753 6. 2014 2014 2013 2013 4 6 1 6 4 6 1 6 44,488 109,008 39,016 99,379 3,694 1,461 3,915 5,772 7,583 17,441 6,429 13,852 55,765 127,910 49,360 119,003 2014 2013 6 30 6 25% 2013 25% [2011]58 70% 2011 2020 15% 15% 2013 15% 10% 2008 1 1 2007 12 31 10% 2007 50% 50% 2007 12

7. (a) 2014 2014 2013 2013 4 6 1 6 4 6 1 6 103,547 231,906 91,779 196,655 5,597,817 5,597,133 5,593,896 5,593,605 1.85 4.14 1.64 3.52 (b) 2014 2014 2013 2013 4 6 1 6 4 6 1 6 103,547 231,906 91,779 196,655 5,597,817 5,597,133 5,593,896 5,593,605 18,815 18,420 16,769 17,687 5,616,632 5,615,553 5,610,665 5,611,292 1.84 4.13 1.64 3.50 8. 2014 6 30 6 2013 9. 30 90 2014 2013 6 30 12 31 0 90 335,246 248,538 90 9,838 11,889 345,084 260,427 13

10. 2014 6 30 2013 12 31 0.005 7,000,000,000 35,000 7,000,000,000 35,000 5,596,405,360 27,982 5,592,897,360 27,964 3,308,000 17 3,508,000 18 5,599,713,360 27,999 5,596,405,360 27,982 3,308,000 3,308,000 4,190,000 17,000 4,173,000 1,331,000 11. 2014 2013 6 30 12 31 939,875 1,016,636 232,618 84,874 708,194 574,769 1,880,687 1,676,279 (939,875) (1,016,636) 940,812 659,643 2012 6 20 495,794,000 2013 494,490,000 2014 6 30 527,675,000 2013 518,060,000 2014 6 30 6 599,514,000 2013 387,294,000 622,000 2013 354,000 380,101,000 2013 416,213,000 14

12. 2014 2013 6 30 12 31 0 90 1,384,993 1,214,761 90 83,452 36,949 1,468,445 1,251,710 13. (a) 2014 6 30 13 1 2 3 2014 6 30 2013 12 31 1 2 3 1 2 3 19,335 30,998 50,333 21,275 21,275 4,838 4,838 1,103 1,103 114 114 1,103 19,335 30,998 51,436 4,952 21,275 26,227 6,893 6,893 6,893 6,893 15

13. (a) 2014 2013 6 30 6 1 2 3 3 3 2014 6 30 2013 6 30 21,275 (6,893) 16,677 (19,074) 29,058 1,518 50,333 (6,893) 18,195 (19,074) 2014 6 30 2013 6 30 (i) (ii) 3 2013 12 31 16

13. (a) 2014 6 30 3 2013 12 31 3 2013 12 31 3 3 1 3 (b) 11 2014 6 30 2013 12 31 14. 2014 2013 6 30 12 31 (a) 293,268 235,442 39,742 27,464 333,010 262,906 (b) 42,756 43,723 88,159 82,719 47,530 50,172 178,445 176,614 17

15. 2014 2014 2013 2013 4 6 1 6 4 6 1 6 (a) (b) (c) 6,311 12,138 6,037 10,745 6,781 11,684 8,404 13,713 9,373 17,360 11,001 19,317 95,412 211,576 113,264 235,678 14,816 34,575 11,867 31,568 3,244 3,675 4,676 7,508 * 534,635 534,635 * 2014 5 14 Wealth City Investment Limited ( Wealth City ) Wealth City 2,483,016,850 402,740,000 80,548,000 322,192,000 75,926,000 2014 4 2 2014 4 17 16. 2014 8 18 2014 18

2014 GDP 7.4% 7.5% (CPI) 2.3% 3.4% 1.8% 2014 1.51% 5,504,418 2.05% 2.53% 9.52% 1.20 31.07% 5.59% 0.76 20.08% 2.39% 2014 1 6 10,288 2014 EBITDA 20.74% 703,414 17.93% 231,906 0.58 4.21% 0.62 4.14 2014 2.05% 2,033,826 36.95% AC Nielsen 2014 1.9% 1.89 27.29% 161,230 4.23% AC Nielsen 2014 47.4% 57.1% 3.2 1.5 O2O CUBA 4 19

2moro SNS 125 2014 2 2014 2014 89,672 9.52% 1.63% 1.62 35.27% 2014 10,652 20

AC Nielsen 2014 22.0% 18.3% 3.0 3+2 6 1,623 50 2014 (Go to market Model) 2014 3.4% 3,332,488 2.53% 60.54% PET 3.25 33.45% 13.56% 131.58% 93,080 21

4 AC Nielsen 2014 6 54.2% 25.6% 21.8% Canadean 2014 34.7% 52.3% 2014 C NBA 10 22

2014 6 30 1,576,991 2013 12 31 327,101 9,528,470 5,601,165 2013 12 31 1,104,149 1,103,231 2013 12 31 5.39 58.78% 2014 6 30 1,880,687 2013 12 31 204,408 91%:9% 88%:12% 50%:50% 39%:61% 2.39% 2014 1-6 114,937 10,288 104,649 2014 2013 6 30 12 31 12.33 12.90 9.96 8.23 0.66 0.66 58.78% 53.39% 0.11 0.15 2014 6 30 76,753 2013 12 31 80,541 2010! 3 22 33 6000 1679 9 8 3 6.5 960 23

1 2 3 4 5 2014 2014 2 5 11 2014 2014 50 Kantar Worldpanel 2014 TOP50 2013 2013 91% 9 13 (CRP) 5.6% 2014 C-BPI 2014 3 20 2014 2014 2014 5 14 Wealth City Investment Limited 534,635,000 2012 4 1 2014 6 30 A.2.1 A.4.1 24

A.2.1 A.2.1 1996 2013 1 1 A.4.1 A.4.1 3 25

10 2008 3 20 2008 3 20 11,760,000 2013 3 21 2018 3 20 $9.28 2,000,000 2009 4 22 26,688,000 2014 4 23 2019 4 22 $9.38 2,816,000 2010 4 1 15,044,000 2015 4 1 2020 3 31 $18.57 2,200,000 2011 4 12 17,702,000 2016 4 12 2021 4 11 $19.96 2,264,000 2012 4 26 9,700,000 2017 4 26 2022 4 25 $20.54 1,368,000 2013 5 27 11,492,000 2018 5 27 2023 5 26 $20.16 1,390,000 2014 4 17 12,718,500 2019 4 17 2024 4 16 $22.38 1,486,000 2014 6 30 3,308,000 HK$9.82 HK$21.24 2014 6 30 (a) (b) 352 (c) 26

(a) 1 2 13,242,000 1,854,827,866 33.61% 13,524,000 1,854,827,866 33.13% (b) 3 3 3 180,008 17.10% 180,008 17.10% 1. 1,854,827,866 44.08% 30.24% China Foods Investment Corp. 25.00% 0.68% Profit Surplus Holdings Limited Profit Surplus 100% Profit Surplus HSBC International Trustee Limited 2. 13,242,000 2008 3 20 13,524,000 2,000,000 2013 3 21 2018 3 20 9.28 2,816,000 2014 4 23 2019 4 22 9.38 2,200,000 2015 4 1 2020 3 31 18.57 2,264,000 2016 4 12 2021 4 11 19.96 1,368,000 2017 4 26 2022 4 25 20.54 1,390,000 2018 5 27 2023 5 26 20.16 1,486,000 2019 4 17 2024 4 16 22.38 3. 180,008 1 2014 6 30 27

2014 6 30 (a) (b) 352 (c) 2014 6 30 336 % 1 ^ 1,854,827,866 33.13 1 ^ 1,854,827,866 33.13 1 ^ 1,854,827,866 33.13 Profit Surplus Holdings Limited 1 ^ 1,854,827,866 33.13 HSBC International Trustee Limited 1 ^ 1,854,827,866 33.13 1 ^ 1,854,827,866 33.13 1 ^ 1,854,827,866 33.13 1 2 ^ 1,881,593,866 33.61 1 ^ 1,854,827,866 33.13 1 ^ 1,854,827,866 33.13 1 ^ 1,854,827,866 33.13 1,854,827,866 33.13 ^ 1 2 27 2014 6 30 336 2014 8 18 http://www.masterkong.com.cn http://www.irasia.com/listco/hk/tingyi 28