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RIGHT DAY HOLDINGS LIMITED 875 (1) (2) (3) (4) (5) (6) (7) (8) * 16 89 90 97 100 137 26 2109350 366 48 2826 *

........................................................ 1.................................................. 14.................................................. 16.................................................. 90........................................... 98................................................. 100................................... 138................................. 191............................... 222................................. 254..................... 288.......................................... 296................................. 297...................................... 299............................. 302.......................................... 317.......................................... 335............................................. 350 i

Modern Excellence 99 1

1,600,000,000 150,000,000,000 10,000,000,000 0.01 5,000,000,000 A 5,000,000,000 B 0.01 0.00125 2

A B Concord Concord Group (B.V.I.) Limited Concord 33% 33% 34% 99% 1% 98% 1%1% 3

(i) (ii) Huai Hua Holdings Limited 1,380,000,000 A 4

(a) 15,000,000 Concord 60% 40% Trade Rise100% 612 5

1 2 4 6 9 7,500,000 2,500,000 20,000,000 Modern Excellence 100% 166 6

(i)(ii) (iii) Right Day Holdings Limited 0.10 1,000,000,000 29,500,000 7

Modern Excellence Modern Excellence Limited 0.01 25% 8

0.01A B 6 9

Modern Excellence Modern Excellence 100% Ever Growth Asia Limited Huge Summit Investments Limited Chinese Investment Limited Profit Dragon Management Limited China Merchants Investment (H.K.) Limited 10

571 0.00125 0.01 (i) (ii) (iii) (iv) (v) 11

Trade Rise Trade Rise Holdings Limited Wanthorpe SPC First Vanguard Opportunity Fund SPC Wanthorpe Opportunity Fund SPC 261 12

60% % * 13

.............................................................................................................................................................................................. 4,000.............. 500................................. 20,000................... 14

..................................... 500..................... 15

* 875 Canon s Court 22 Victoria Street, Hamilton HM12 Bermuda 26 2109 (1) (2) (3) (4) (5) (6) (7) (8) * 16

Modern Excellence (i) (ii) (iii) (iv) 350 366 17 17 Modern Excellence 13.24 17

(i) (ii) (a) Modern Excellence (b) 1b 29(2) (c) 4.29 (iii) (ii) (iii) 18

1. 1,600,000,000 160,000,000,000 2,532,543,083 (a) 0.010.00125 (i) 1,600,000,000 160,000,000,000 200,000,000 160,000,000,000 0.00125(ii) 25,325,430.83 2,532,543,083 3,165,678.85 2,532,543,083 0.00125 (b) 2,532,543,083316,567,885 200,000,000 20,000,000,000 3,165,678.85 316,567,885 (c) 130,000,000,000 10,000,000,000 5,000,000,000 A 5,000,000,000 B 1,600,000,000 150,000,000,000 10,000,000,000 0.01 19

(d) 2,532,543,083 22,160,000 163,532,000 153,519,000 0.1 90,000,000 69,863,000 412,239,000 25,325,000 163,532,000 153,519,000 (412,239,000) (22,160,000) 22,160,000 (163,532,000) 163,532,000 90,000,000 (90,000,000) 90,000,000 (412,239,000) 412,239,000 3,165,000 16,972,000 20

2. 0.10 1,000,000,000 0.10 (i) 0.344 70.9% (ii) 0.23 71,559,000316,567,885 0.33 0.088 (i) (ii) 47,300,000 (iii) (iv) 3. (a) 1,380,000,000 A 21

(b) (d)a (c) (d)a (d) A A A 30,000,000A (e) 1 67,400,000 A 67,400,000A 22

1,380,000,000 A A 0.0488 A Trade Rise 1 A (a) 50%75% (b) (c) 23

10,032,000 43,000,000 4,000,000 Concord Luck Healthy Group Ltd. 4. 29,500,000 (a) (b) 5. 16,000,000 8,000,000 24

6. 100% 100% 100% 100% # # # 100% Trade Rise 100% 100% 100% 100% # 100% 100% # # Trade Rise 1 25

653,983 653,9841 653,983 7. (a) (b) (c) (d) (e) (i) (ii) (iii) 26

(iv) (v) (vi) (f) (g) (h) (i) (j) 27

Modern Excellence 1. (a) Trade Rise (b) 48,750,000 28

(i) 15,000,000 (ii) B0.15 B 33,750,000 B 50% 50% B (c) (A) 6.5 12,000 (i) B 29

6.5 B (ii)b B 0.15 50% (ii) B 6.5 B B 0.15 B B (B) 20,000,000 20,717,313.06 30 275,000 6,577,449 B 96,584,728B B 30

B 225,000,000 B B B (d) (i) (ii) (iii) (iv) B (e) B 0.01 225,000,000B 31

B 2. 20 1,000,000 999,999 1,000,000 1 (a) Trade Rise 32

(b) 16,250,000 (i) 5,000,000 (ii) B0.15 B 11,250,000 B 50% 50% B (c) (A) 6.5 12,000 33

(i) B x 6.5 B (ii)b B 0.15 50% (ii) B x 6.5 B B 0.15 B B (B) 1,871,890.60 30 803,800 34

1,038,864 B 7,748,720B B B75,000,000 B B B (d) (i) (ii) (iii) (iv) B (v) 35

(e) B 0.01 75,000,000B B 3. 18 36

Modern Excellence Modern Excellence (a) Modern Excellence (b) 143,000,000 (a) 15,000,000 (i) Modern Excellence Modern Excellence (ii) (b) 20,750,000 (c) B0.15 B 107,250,000 B 50% Modern Excellence 50%Modern Excellence B 37

Modern Excellence Modern Excellence Modern Excellence (c) (A) Modern Excellence 7.5 (i) B 50% xx 7.15 35,750,000 B 0.15 B (ii) Modern Excellence B 50% x x 7.15 35,750,000 B 0.15 B 38

(B) Modern Excellence 88,302,700.79Modern Excellence 30 (C) (a) 50% (b)4,500,000 (D) B 1 6.666666667 B B 0.15B Modern Excellence 10,274,111 B 39

(d) (i) (ii) B (iii) Modern Excellence (iv) Modern Excellence (v) (vi) (vii) (viii) 40

(e) B 0.01 715,000,000B B (f) Modern Excellence 30% 70% 100%70% Modern Excellence 41

(a) (i) Modern Excellence (ii) Modern Excellence (iii) (b) 20% (c) Modern Excellence Modern Excellence 20,750,000 (d) 4,000,000 Modern Excellence 42

1. 10,000 2,690 100 37% 700,000 1,353,900 43

57,568,380 105,969,168 75,319,431 11,757,530 8,706,045 11,786,723 14,768,732 3,924,118 (678,370) 2,307,521 7,868,899 2,797,760 (678,370) 2,307,521 6,577,449 2,228,075 20,381,344 23,736,415 17,216,703 23,476,679 (4,990,436) (2,740,583) 3,335,922 5,861,743 732%48,750,000 5,861,743 1,353,900 44

2. 1,000,000 100 90% 10% 66,087,497 65,108,132 62,955,847 9,011,454 13,441,131 14,174,470 14,152,045 1,839,273 257,273 786,807 1,513,474 (70,703) 290,422 786,807 1,038,864 (98,017) 7,534,725 11,727,657 11,588,509 11,628,968 1,627,973 2,461,199 3,435,255 3,505,545 364%16,250,000 3,505,545 45

3. Modern Excellence Modern Excellence Modern Excellence 100% 40017,132 61,269 333,335 647,870 1,103,379 163,021 48,000 9,200 379,335 2,032,010 3,333,350 113 o 17-114 o 0423 o 22-23 o 56 20.45 o C 115 o 27-115 o 4528 o 26-29 o 01 17.7 o C 115 o 55-119 o 1540 o 11-42 o 40 6-9.1 o C 107 o 4937 o 35 9.4 o C 46

709,139 61,269 647,870 1,000,000 2,118,0002,324,000 2,103,000 1,000,000 2,000 2,00033%67% 50% 47

85,098,099 74,722,796 91,396,505 32,942,097 42,526,305 31,767,054 34,846,972 8,470,461 12,779,751 13,749,595 12,106,929 3,099,661 11,500,848 13,019,706 10,274,111 2,906,408 123,847,408 122,739,809 143,895,805 144,324,378 71,199,520 85,219,226 100,493,337 103,399,745 38% 143,000,000103,399,745 500 48

3,300,000 700,000 43,500,000 5.8 14 9.3 2.3 4.4 1,000 7.7 1,000 49

100% 100% 99.9999% 0.0001% 100% 50

Modern Excellence 100% Modern Excellence 100% 100% 100% 100% 100% 100% 51

100% 100% 100% 100% * * 100% 100% 100% 100% 100% 00% 100% Trade Rise 100% * * 100% Modern Excellence 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% * 52

287,400,000 3,200,000 284,200,000 53,400,000 78,000,000 24,600,000 53,300,000 9,600,000 87,800,000 (a) 25,800,000 (b) 29,500,000 (c) 53

1 (i) (i) (ii) (ii) (iii) (iii) (iv) 2 % % % 1,000,000,000 75.72 990,425,913 75.00 10 530,530,000 20.95 8 334,000,000 13.19 9 430,000,000 16.98 EFH10 66,316,250 5.02 66,316,250 5.02 Concord 20,000,000 0.79 2,500,000 0.19 2,500,000 0.19 8 41,750,000 3.16 41,750,000 3.16 9 53,750,000 4.07 53,750,000 4.07 1 4,000,000 0.30 4,000,000 0.30 2 9,574,087 0.72 1,218,013,083 48.09 152,251,635 11.54 152,251,635 11.54 1,238,013,083 48.88 320,567,885 24.28 330,141,972 25.00 2,532,543,083 100.00 1,320,567,885 100.00 1,320,567,885 100.00 54

2 (i) (ii) (i) (iii) (ii) (iv) (v) (iii) (iv) (v) A (vi) B 2 5 6 7 2 4 5 % % 2,370,425,913 87.78 990,425,913 26.66 3 900,609,602 24.24 11 715,000,000 19.24 10 66,316,250 2.46 66,316,250 1.78 Concord 2,500,000 0.09 207,838,989 5.59 8 41,750,000 1.55 41,750,000 1.12 9 53,750,000 1.99 53,750,000 1.45 Concord 274,051,409 7.38 1 4,000,000 0.15 4,000,000 0.11 225,000,000 6.06 75,000,000 2.02 2 9,574,087 0.35 9,574,087 0.26 152,251,635 5.63 152,251,635 4.09 330,141,972 12.22 1,104,701,649 29.86 2,700,567,885 100.00 3,715,567,885 100.00 55

1. 400,000 2. 25 3. 60% 20.95%A 20 4. 67,400,000 A A % 44,000 65.26 900,609,602 Concord 10,032 14.88 205,338,989 4,538 6.73 92,885,600 8,851 13.13 181,165,809 67,421 100.00 1,380,000,000 5. A B 6. A 7. 25% 56

8. 10% 9. 10% 10. 10% 11. B 75% 4,000,000 25% 1. 17 57

13.24 17 2. 29,500,000 50 58

3. Modern Excellence 100% 100% 100% 100% * * 100% 100% 100% 100% 100% 100% Trade Rise 100% * * 100% Modern Excellence 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% * 60

3.1 50 3.2 2,690 1,353,900 18% 9% 4% 3.3 7 100 20 61

29% 3.4 Modern Excellence Modern Excellence100% 12 62

17,132 2,000 50% 6,545,026 400 6,545,000 31% 69% 12.8 2,000,000 14% 7.0 7% 5.4 6% 63

1,675,000 78% 22% 28.3 37% 19.1 25% 10 13% 20 92% 8% 56.7 90% 28.3 58% 64

65 (i) (ii) (i) (ii) (i) (ii)

4. 4.1 10 4.2 4.3 Modern Excellence 5. (a) 66

(b) (c) (d) 2018 67

6. (a) 75,000,000 6,000,000 63,000,0001,000,000 91,000,000 10,000,000 200,000,000 (b) 8,100,000 1,300,000 9,400,000 (c) 35,000,0003291,334,000 68

(18)(18)(22) 3,000,000 (d) 7,000,0004,000,000 1,000,000 450,000 (e) Modern Excellence 69

1. 2. 3. 3 4. 5. 16 10 6. 10 10 70

董事會函件經重組集團的營運策略性位於整個中國眾多地區且其加工設施均較接近其種植基地此將有助於確保產品的新鮮度並節省運輸成本由於具有經驗豐富的營銷實施團隊經重組集團擬通過建立一個向香港及中國的超市及餐廳直接分銷的成熟系統以進一步滲透客戶群鑑於經擴大集團的蔬菜種植採收加工及分銷能力經重組集團將轉向發展蔬菜業務包括從種植到加工分銷及銷售所有階段的全面業務網絡 7. 可能影響經重組集團業務及盈利能力之風險因素 A. 與經重組集團業務營運有關之風險極端天氣狀況自然災害農作物病蟲害及可導致經重組集團之業務及經營業績產生重大波動之其他自然條件新鮮蔬菜生產易受華南之暴雨冰雹干旱極端氣溫及台風等極端天氣狀況以及地震森林火災及洪水等自然災害的影響經重組集團之農場位於承德雲南江西寧夏及從化該等地區均為熱帶及亞熱帶地 71

14,196.933946.935 72

(1) (2) (3) (4) 74

(i) (ii) 75

100 400 100% 78% 94% 31% 77

B. 78

8. 400 ISO/GMP 79

9. 34,200,000 0.02 1. 224 1,000,000,000 75.72% 30.17% 224 Concord Concord 80

2. Concord 40% 530,530,000 20.95% Concord 20,000,000 0.79% Concord Concord 60% Concord 25 5 Concord 25 25 81

(i) (ii) 25 1. 14A.13(1)(b) 14A.13(1)(b) 14A.13(1)(b) 14A.45 14A.47 14A.48 14A.48 14.22 14A.25 82

2. 900,609,602A 60% A 92,885,600A A A 3. 4,000 20,000 83

1. 28 26 2.50 2. (i) 4,000 500 (ii) 20,000 (iii) (iv) 500 20,000 84

500 3. 4,00020,000 20,000 20,000 3022 (852)2544-9861 2545-3298 4. 85

(1) (2) (3) (a) (b) (c) (4) 86

98 99 100 137 26 2109350 366 (i) (ii) Concord Concord100% Concord Concord 87

530,530,00020,000,000 78.3% 2826 88

RIGHT DAY HOLDINGS LIMITED P.O. Box 957, Offshore Incorporations Centre, Road Tower, Tortola, British Virgin Islands (1) (2) (3) (4) (5) (6) (7) (8) 90

First Vanguard Opportunity Fund SPC First Vanguard Private Equity Segregated Portfolio Wanthorpe Opportunity Fund SPC-Wanthorpe Private Equity Segregated Portfolio Wanthorpe SPC First Vanguard Opportunity Fund SPC First Vanguard Private Equity Segregated Portfolio Wanthorpe Opportunity Fund SPC Wanthorpe Private Equity Segregated Portfolio Nice Grace Holdings Limited29% Excel Mind Investments Limited29%22% Capital Faith Limited20% Nice Grace Holdings Limited Nice Grace Family Trust Excel Mind Investments Ltd 100% Capital Faith LimitedXu Yajun Wanthorpe SPC Wanthorpe AAA Management Limited First Vanguard AAA Management Limited Wanthorpe SPC Wanthorpe SPC 100% Wanthorpe AAA Management Limited 224 91

(a) 53 92

21 241828 59 20 277 20 HKFORT 46 18 47 Richsource International Group Limited 20 93

(b) 62 35 Pepperdine University 54 60 McDonnell Douglas Ford Aerospace 94

6943382 80358271 AACSB (a) (b) (c) XV (d) (e) 13.51(2)(h) 13.51(2)(v) (c) 95

51 Concord Concord40% 20.95%Concord 0.79% Concord21.74%Concord Evertop Investment Holdings Limited Evertop Investment Holdings LimitedConcord 34% 21.74% 54 20 15 96

18 18 Right Day Holdings Limited 97

* 875 100 137 * 98

181 25 2505-06 (I) (II) (III) 60% A14A 14 100

14 14A.13(1)(b) 1,000,000,000 75.73% 26 Concord 25 5 Concord 25 101

(i) (ii) (iii) (iv) 13.80 102

Concord Trade Rise Modern Excellence 103

(I) (1) 1.1 17 17 Modern Excellence 104

Trade Rise Modern ExcellenceModern Excellence 1.2 8,059 15,097 36,659 (92) 321 4,091 (3,250) (9,621) (7,117) (11,977) 105

3,177 1,376 6,807 4,312 11 15 205 652 3,188 1,391 7,012 4,964 (77,997) (72,950) (68,950) (59,785) (74,820) (71,574) (62,143) (55,473) (74,809) (71,559) (61,938) (54,821) 2,413 435 103 3,067 11,980,000 878,000 12,860,000 40.58% 35.18% 80.16% (i) (ii) (iii) 106

129.19%(i) (ii) (iii) (i) 68,750,000 (ii) 9,250,000 9,160,000 1.3 107

24 1.4 74,810,000 2,410,000 108

(i) (ii) (iii) (2) 2.1 1,600,000,000 160,000,000,000 2,532,543,083 0.010.00125 (i) 1,600,000,000 160,000,000,000 200,000,000 160,000,000,000 109

0.00125 (ii)25,325,430.83 2,532,543,0833,165,678.85 2,532,543,083 0.00125 2,532,543,083 316,567,885 200,000,000 20,000,000,000 3,165,678.85 316,567,885 130,000,000,000 10,000,000,000 5,000,000,000 A 5,000,000,000 B 1,600,000,000 0.01 150,000,000,000 10,000,000,000 110

2.2 0.10 1,000,000,000 (i) (ii) 47,300,000(iii) (iv) 0.10 (a) 0.344 70.9% (b) 0.23 71,559,000 316,567,8850.33 (c) 0.24 74,809,000 316,567,885 0.34 111

87,800,000 (i) 25,800,000 (ii)29,500,000 (iii) (i) (ii) (iii) (iv) 2.3 1,380,000,000 A AA0.0488 A 67,400,000 0.230.24 0.2788 0.2888 112

(a) A (b) A A A A 30,000,000A 30,000,000 30,000,000 1,380,000,000AA 0.0217 113

67,400,000 A 60% Trade Rise 1 653,983 114

653,984 (i) (ii) (iii) 115

(3) (i)(ii) (iii) (iv) A (i) (i) (ii) (ii) (iii) A % % % % 1,000,000,000 75.96 1,000,000,000 37.08 530,530,000 20.95 66,316,250 20.95 66,316,250 5.04 66,316,250 2.46 334,000,000 13.19 41,750,000 13.19 41,750,000 3.17 41,750,000 1.55 430,000,000 16.98 53,750,000 16.98 53,750,000 4.08 53,750,000 1.99 Concord 20,000,000 0.79 2,500,000 0.79 2,500,000 0.19 207,838,989 7.71 900,609,602 33.40 Concord 274,051,409 10.16 1,218,013,083 48.09 152,251,635 48.09 152,251,635 11.56 152,251,635 5.65 2,532,543,083 100 316,567,885 100 1,316,567,885 100 2,696,567,885 100 67,400,000 A A 116

A (%) 44,000 65.26 900,609,602 Concord 10,032 14.88 205,338,989 4,538 6.73 92,885,600 8,851 13.13 181,165,809 67,421 100 1,380,000,000 75% 4,000,000 25% A 48.09% 5.65% (i) (ii)(iii) (II) (i) (ii) (iii) (iv) 117

(v) (1) 1.1 10,000 2,690 100 1,353,900 11,757,530 75,319,431 105,969,168 2,525,821 6,076,505 2,249,853 118

5,861,743 3,335,922 (2,740,583) 1,000,000 10090% 10% 9,011,454 62,955,847 65,108,132 70,290 974,056 833,226 3,505,545 3,435,255 2,461,199 Modern Excellence Modern Excellence 119

Modern Excellence Modern Excellence 400 17,132 2,000 33%67% 50% 32,942,097 91,396,505 74,722,796 2,906,408 10,274,111 13,019,706 120

103,399,745 100,493,337 85,219,226 1.2 50 (i)(ii) (iii) 121

(2) 2.1 Trade Rise 48,750,000 (a) 15,000,000 (b) B0.15 B B 33,750,000 50% 50% B (i) 122

(ii) (iii) (a) 6.5 12,000 (b) 20,000,000.00 20,717,313.06 30 275,000 (i) (ii) 123

2.2 Trade Rise 16,250,000 (a) 5,000,000 (b) B B 11,250,000 50% 50% B (i) (ii) (iii) 124

(a) 6.5 12,000 (b) 1,871,890.60 30 803,800 (i) (ii) 125

2.3 Modern Excellence 143,000,000 (a) 15,000,000 (i) Modern Excellence Modern Excellence (ii) (b) 20,750,000 (c) B B 107,250,000 B 50% Modern Excellence 50%Modern Excellence B (i)modern Excellence 126

(ii) Modern Excellence (iii)modern Excellence (a) Modern Excellence 7.15 (b) Modern Excellence 88,302,700.79Modern Excellence 30 Modern Excellence (i)modern Excellence (ii) 127

2.4 B B B 0.15 225,000,000B 75,000,000B 715,000,000B B B B B 0.15 (a) 0.344 56.40% (b) 0.23 71,559,000 316,567,8850.38 (c) 0.24 74,809,000 316,567,885 0.39 128

B 2.5 (73) (682) (904) 9.36 1.42 4.49 1.07 12.20 1.99 1 12.20 1.99 4.49 1.07 8.68 1.49 6.50 8.32 2 4 6.50 4.64 3 5 (www.hkex.com.hk) 129

1. 2. 3. 4. 5. 4.4912.20 8.68 6.5 (73) (682) (904) 6.82 1.05 5.93 1.02 10.44 1.96 10.44 1.96 5.93 1.02 7.73 1.34 7.15 1.15 1 2 (www.hkex.com.hk) 130

1. 2. 5.9310.447.73 7.15 1.071.991.49 8.32 4.64 1.02 1.961.341.15 (i) (ii) (iii) (iv) (v) B 131

6.506.50 7.15 (3) (i)(ii) (iii) B (iv) B (v) B(vi) B B B B B % % % % % % 530,530,000 20.95 66,316,250 20.95 66,316,250 12.25 66,316,250 16.94 66,316,250 6.43 66,316,250 4.98 334,000,000 13.19 41,750,000 13.19 41,750,000 7.71 41,750,000 10.66 41,750,000 4.05 41,750,000 3.14 430,000,000 16.98 53,750,000 16.98 53,750,000 9.92 53,750,000 13.73 53,750,000 5.21 53,750,000 4.04 225,000,000 41.55 225,000,000 16.90 75,000,000 19.15 75,000,000 5.63 715,000,000 69.31 715,000,000 53.69 Concord 1,238,013,083 48.88 154,751,635 48.88 154,751,635 28.57 154,751,635 39.52 154,751,635 15.00 154,751,635 11.62 2,532,543,083 100 316,567,885 100 541,567,885 100 391,567,885 100 1,031,567,885 100 1,331,567,885 100 B 25%B B 132

B 48.88%11.62%(i) (ii) (4) 74,810,00078,000,000 3,190,000 234,040,000 53,360,000287,400,000 42,800,000 2,410,00074,820,000 133

51,260,000 67,270,000 (III) 22 4 1,000,000,000 75.73% 26 134

50% 26 (IV) Concord 255 Concord 25 (i) (ii) (iii)concord 135

80% (iv) (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) Concord80% (ix) (i) (ii) (iii) 136

137

1. 36,659 15,097 7,065 8,059 (32,568) (14,776) (6,258) (8,151) 4,091 321 807 (92) 160 38 9 (1,460) (291) (291) (292) (13,464) (9,786) (9,660) (4,633) (2,866) (6) 455 878 (11,977) (7,117) (9,621) (4,117) (3,250) (11,977) (7,117) (9,621) (4,117) (3,250) 138

(11,977) (7,117) (9,621) (4,117) (3,250) 0.47 0.28 0.38 0.16 0.13 652 205 15 11 4,312 6,807 1,376 3,177 (59,785) (68,950) (72,950) 77,997 (54,821) (61,938) (71,559) (74,809) 25,325 25,325 25,325 25,325 (80,146) (87,263) (96,884) (100,134) (54,821) (61,938) (71,559) (74,809) 139

2. 23 85 90 140

2(b) 11,977,000 55,473,000 2(b) 8(b) 5,345,000 16,312,000 141

70% 20(b)(i) (ii) 10,967,000 P05049 142

3. 22 73 90 143

2(b) 7,117,000 62,143,00061,938,000 2(b) 2(b) P05049 144

4. 1 1 22 2208-11 (852)2122 9736 (852)2180 9163 22 57 90 145

3 9,621,000 71,574,00071,559,000 3 3 146

5. 4 15,097 36,659 (14,776) (32,568) 321 4,091 4 9 38 (291) (1,460) (9,660) (9,786) 5 (9,621) (7,117) 8 9 (9,621) (7,117) (9,621) (7,117) 10 0.38 0.28 147

12 15 205 14 941 6,704 435 103 1,376 6,807 15 66,614 65,464 16 6,336 3,486 72,950 68,950 (71,574) (62,143) (71,559) (61,938) 18 25,325 25,325 (96,884) (87,263) (71,559) (61,938) 148

12 12 195 13 107 88 119 283 14 323 1,150 111 23 434 1,173 15 65,886 62,607 16 86 86 65,972 62,693 (65,538) (61,520) (65,419) (61,237) 18 25,325 25,325 19 (95,188) (88,543) (69,863) (63,218) 15 4,444 1,981 (65,419) (61,237) 149

25,325 163,532 126,883 (370,561) (54,821) (7,117) (7,117) 25,325 163,532 126,883 (377,678) (61,938) 25,325 163,532 126,883 (377,678) (61,938) (9,621) (9,621) 25,325 163,532 126,883 (387,299) (71,559) 150

(9,621) (7,117) 186 461 6 658 (8,771) (6,656) 5,105 (5,459) 1,150 5,765 (2,516) (6,350) (2) (14) (2) (14) 2,850 3,400 2,850 3,400 332 (2,964) 103 3,067 435 103 435 103 151

1. Canon s Court, 22 Victoria Street, Hamilton HM12, Bermuda 26 2109 2. (a) 27 39 2 3 5 5 17 5 152

12 24 7 9 14 19 * * (b) (c) (i) (ii) (iii) 153

(d) (e) (f) 1030 1020 10 154

(g) (i) (ii) ( ) (iii) 155

(iv) (v) (vi) (h) (i) (j) 156

(k) (i) (ii) (iii) i) ii) (iv) ii)iii) (v) (l) 3. 2 9,621,000 7,117,000 71,574,000 62,143,000 71,559,000 61,938,000 157

(i) (ii) (iii) (iv) Modern Excellence Limited Modern Excellence Modern Excellence (v) 158

4. 15,097 36,659 9 38 15,106 36,697 5. 375 460 1,405 150 14,776 32,568 186 461 14 658 6 1,118 2,431 21 31 641 1,064 159

50 50 6. 80 80 80 4 84 80 80 80 4 84 80 4 84 50 50 50 50 260 240 12 512 80 80 80 4 84 80 80 80 4 84 80 4 84 50 50 27 27 50 50 287 240 12 539 1) 2) 17 160

7. 544 813 16 19 560 832 1,000,000 8. (9,621) (7,117) (1,587) (1,174) 302 1,107 (1) 1,286 67 9. 6,645,000 7,684,000 10. 9,621,000 7,117,000 2,532,543,083 2,532,543,083 161

11. a) b) (a) 2(l) 162

15,097 36,659 15,097 36,659 (6,750) (6,664) (2,871) (453) (9,621) (7,117) (186) (461) (186) (461) (658) (658) 528 1,411 863 5,601 1,391 7,012 72,236 66,155 714 2,795 72,950 68,950 2 14 2 14 (b) (9,621) (7,117) (9,621) (7,117) (c) 10% A * * B 4,013 23,695 C 2,666 12,964 * 10% (d) 8 163

12. 1,046 36 259 1,341 14 14 1,046 36 273 1,355 2 2 (1,046) (11) (1,057) 36 264 300 546 12 131 689 364 6 91 461 910 18 222 1,150 136 6 44 186 (1,046) (5) (1,051) 24 261 285 12 3 15 136 18 51 205 164

1,046 36 259 1,341 (1,046) (1,046) 36 259 295 546 12 131 689 364 6 87 457 910 18 218 1,146 136 6 41 183 (1,046) (1,046) 24 259 283 12 12 136 18 41 195 13. 2 2 1,283 1,264 1,285 1,266 (1,178) (1,178) 107 88 165

Ever Growth Asia Limited 1 100% Huge Summit Investments 100 100% Limited Profit Dragon Management 100 100% Limited Chinese Investment Limited 10,000 100% China Merchants Investments 10,000 100% (H.K.) Limited 2 100% 2 100% 2 100% () 1 100% 14. 118 5,259 118 5,259 823 1,445 323 1,150 941 6,704 323 1,150 166

60 3,574 90 1,685 90 118 118 5,259 90 1,685 90 118 118 1,685 240 240 5 658 (658) 658,000 167

15. (a) (b) 644 2,029 (b) 2,337 2,903 2,253 2,075 24 59,032 57,041 59,032 57,041 (c) 4,444 1,981 24 4,601 3,491 4,601 3,491 66,614 65,464 70,330 64,588 66,614 65,464 65,886 62,607 4,444 1,981 66,614 65,464 70,330 64,588 (a) (b) (c) 16. (a) 86 86 86 86 (b) 6,250 3,400 6,336 3,486 86 86 (a) (b) Right Day Holdings LimitedRight Day Right Day 10,000,000 6,250,000 3,400,000 168

19. (i) (ii) Corasia International (BVI) Limited 17,039,000 (iii) 112,950,000 112,950,000 163,532 153,519 (397,910) (80,859) (7,684) (7,684) 163,532 153,519 (405,594) (88,543) (6,645) (6,645) 163,532 153,519 (412,239) (95,188) 20. 108 919 49 4 157 923 170

21. 553 5,362 111 23 72,950 68,950 70,416 64,674 22. (a) 100% 100% 10,000,000 10,000,0006,250,000 3,400,000 171

66,614 66,614 66,614 6,336 6,336 6,336 72,950 72,950 72,950 65,464 65,464 65,464 3,486 3,486 3,486 68,950 68,950 68,950 65,886 4,444 70,330 70,330 86 86 86 65,972 4,444 70,416 70,416 172

62,607 1,981 64,588 64,588 86 86 86 62,693 1,981 64,674 64,674 (b) 23. 173

24. (a) Pelican Securities Limited i 9 Concord Group (B.V.I.) Limitedii 10,032 10,032 ii 44,000 43,000 Luck Healthy Group Limited ii 5,000 4,000 59,032 57,041 i. ii. (b) (c) (d) 6 7 875 1,171 20 23 895 1,194 25. Right Day 16 26. (a) 48,750,000 48,750,000 (i)15,000,000 (ii)33,750,000 0.15 50% (i) 174

7,500,000 (ii) 20,000,00020,717,313.06 (b) 16,250,000 16,250,000(i)5,000,000 (ii)11,250,000 0.15 50%(i) 2,500,000 (ii) 1,871,890.60 (c) Modern Excellence143,000,000 143,000,000(i)35,750,000 (ii)107,250,0000.15 Modern Excellence 50% (i) Modern Excellence 20,000,000 (ii) Modern Excellence 88,302,701 (d) 27. 175

6. 2 8,059 7,065 (8,151) (6,258) (92) 807 (292) (291) (644) (513) (4) (176) (2,218) (3,944) (3,250) (4,117) 4 3 (3,250) (4,117) (3,250) (4,117) 6 7 (0.13) (0.16) 176

11 15 8 764 941 2,413 435 3,177 1,376 9 68,751 66,614 10 9,246 6,336 77,997 72,950 (74,820) (71,574) (74,809) (71,559) 25,325 25,325 (100,134) (96,884) (74,809) (71,559) 177

1. 34 16 2. 8,059 7,065 3. (a) (b) 628 499 16 14 644 513 178

8,059 7,065 8,059 7,065 8,059 7,065 8,059 7,065 (3,091) (3,343) (159) (774) (3,250) (4,117) (3,091) (3,343) (159) (774) (3,250) (4,117) 1 1 4 176 4 176 1,617 1,163 1,571 2,627 3,188 3,790 1,617 1,163 1,571 2,627 3,188 3,790 76,232 69,757 1,765 88 77,997 69,845 76,232 69,757 1,765 88 77,997 69,845 6. 180

7. 3,250,000 4,117,000 2,532,543,083 2,532,543,083 8. 17 118 747 823 764 941 60 90 17 118 17 118 9. 1,696 644 2,473 2,337 59,032 59,032 5,550 4,601 68,751 66,614 181

1 1,696 644 1,696 644 10. (a) 86 86 (b) 9,160 6,250 9,246 6,336 9,246 6,336 (a) (b) 86,000 Right Day Holdings LimitedRight DayRight Day 10,000,000 9,160,000 182

11. 103 108 49 103 157 12 183

7. 3,250,000 8,059,000 14% 92,000 15,097,000 9,621,000 36,659,000 7,117,000 11,977,000 878,000 2,413,000 435,000 103,000 3,067,000 184

10,000,000 24.47 52.44 9.83 12.04 185

100% 100% 99% 10,000,000 10,000,000 6,250,000 3,400,000 186

14,000 (a) 48,750,000 48,750,000 (a)15,000,000 (b)33,750,000 0.15 50% (a) 7,500,000 (b) 187

20,000,000 20,717,313.06 (b) 16,250,000 16,250,000 (a)5,000,000 (b)11,250,0000.15 50%(a) 2,500,000 (b) 1,871,890.60 (c) Modern Excellence 143,000,000 143,000,000 (i)35,750,000 (ii)107,250,000 0.15 Modern Excellence 50% (i) Modern Excellence 20,000,000 (ii) Modern Excellence 88,302,701 188

4 8. 47,000,000 18,000,00029,000,000 9. 189

10. (i) ( ) ( ) 14 (ii) ( ) ( ) (a)10,000,000 29,500,000 (b) (c) (iii) ( ) 28,700,000 190

1. 1 22 2208-11 852 2122 9736 852 2180 9163 191

3.340 2410 1 15 3 192

4 57,568,380 105,969,168 75,319,431 10,907,941 11,757,530 (48,862,335) (94,182,445) (60,550,699) (8,173,111) (7,833,412) 8,706,045 11,786,723 14,768,732 2,734,830 3,924,118 494,830 292,143 4 359,948 492,340 1,814,706 58,954 248,258 (9,744,363) (9,945,835) (8,646,162) (1,631,069) (1,656,808) (25,707) (68,377) (12,454) (9,951) 5 (678,370) 2,307,521 7,868,899 1,645,091 2,797,760 8 (1,291,450) (272,237) (569,685) (678,370) 2,307,521 6,577,449 1,372,854 2,228,075 107,782 (57,668) (500,944) 168,589 297,746 (570,588) 2,249,853 6,076,505 1,541,443 2,525,821 193

10 5,194,177 6,246,117 6,683,137 8,361,445 11 320,046 485,363 477,825 12 1,678,012 13 14,615,503 15,910,809 7,309,346 11,660,150 15 571,664 1,259,443 2,738,857 1,299,247 15,187,167 17,490,298 10,533,566 15,115,234 16 25,371,780 26,476,998 10,539,101 12,569,976 1,248,657 1,830,674 25,371,780 26,476,998 11,787,758 14,400,650 (10,184,613) (8,986,700) (1,254,192) 714,584 (4,990,436) (2,740,583) 5,428,945 9,076,029 19 2 2 2 2 (5,193,506) (3,112,374) 3,259,031 5,457,466 20 203,068 371,789 76,889 404,275 (4,990,436) (2,740,583) 3,335,922 5,861,743 2,093,023 3,214,286 (4,990,436) (2,740,583) 5,428,945 9,076,029 194

2 95,286 (4,515,136) (4,419,848) 107,782 (678,370) (570,588) 2 203,068 (5,193,506) (4,990,436) (57,668) 2,307,521 2,249,853 226,389 (226,389) 2 145,400 226,389 (3,112,374) (2,740,583) (500,944) 6,577,449 6,076,505 206,044 (206,044) 2 (355,544) 432,433 3,259,031 3,335,922 297,746 2,228,075 2,525,821 29,640 (29,640) 2 (57,798) 462,073 5,457,466 5,861,743 2 145,400 226,389 (3,112,374) (2,740,583) 168,589 1,372,854 1,541,443 122,889 (122,889) 2 313,989 349,278 (1,862,409) (1,199,140) 195

(678,370) 2,307,521 7,868,899 1,645,091 2,797,760 1,058,226 1,096,551 1,278,300 253,687 233,022 (494,830) (292,143) (2,791) (1,179) (1,816) (24) (941) 25,707 68,377 12,454 9,951 377,065 3,428,600 9,213,760 1,416,378 2,747,649 (320,046) (165,317) (8,556) 7,538 (1,302,183) (1,385,869) (4,526,686) (1,295,306) 8,601,463 2,769,122 (4,350,804) 7,594,570 1,105,218 (16,170,455) (3,794,936) 1,906,290 3,444,949 2,918,466 1,479,451 (920,175) (1,075,196) (42,793) 3,444,949 2,918,466 1,436,658 (920,175) (1,075,196) (2,907,714) (2,148,491) (1,574,357) (204,080) (1,772,042) 2,791 1,179 1,816 24 941 (2,904,923) (2,147,312) (1,572,541) (204,056) (1,771,101) 196

(25,707) (68,377) (12,454) (9,951) 2,325,581 1,245,848 (25,707) 2,257,204 (12,454) 1,235,897 540,026 745,447 2,121,321 (1,136,685) (1,610,400) 101,077 571,664 1,259,443 1,259,443 2,738,857 (69,439) (57,668) (641,907) 8,527 170,790 571,664 1,259,443 2,738,857 131,285 1,299,247 571,664 1,259,443 2,738,857 131,285 1,299,247 197

1. 6 A 805 2. (a) (b) (c) 12 27 28 7 9 10 11 12 13 198

2. (c) (d) (e) (i) (ii) (iii) (iv) (f) (g) 199

2. (h) (i) 1020 10 10% 20% 10 10 200

2. (j) (i) (ii) 201

2. (k) (l) (m) (n) (o) 12 (p) 202

2. (q) (r) (s) (t) 203

2. (u) (i) (ii) (iii) i) ii) (iv) ii)iii) (v) (v) 3. 2 204

3. 205

4. 57,568,380 105,696,168 75,319,431 10,907,941 11,757,530 644,922 108,547 170,222 258,493 776,433 611 203,853 2,791 1,179 1,816 24 941 186,935 28,815 391,535 58,930 138,159 359,948 492,340 1,814,706 58,954 248,258 57,928,328 106,461,508 77,134,137 10,966,895 12,005,788 5. 6,048,436 6,933,759 5,954,626 1,334,642 1,501,940 29,400 18,000 5,625 1,500 750 6,077,836 6,951,759 5,960,251 1,336,142 1,502,690 12,000 12,000 200,000 33,333 33,333 320,037 348,956 533,372 84,250 58,250 42,095,727 85,538,515 52,812,343 6,745,847 6,535,420 1,058,226 1,096,551 1,278,300 253,687 233,022 1,100,622 1,277,410 928,033 84,734 167,671 206

6. 275,000 12,000 287,000 300,000 12,000 312,000 300,000 12,000 312,000 Wong Lit Keung 180,000 9,000 189,000 480,000 21,000 501,000 25,000 1,000 26,000 Wong Lit Keung 30,000 1,500 31,500 55,000 2,500 57,500 50,000 2,000 52,000 Wong Lit Keung 30,000 1,500 31,500 80,000 3,500 83,500 207

7. 98,140 105,511 94,900 25,460 25,460 98,140 105,511 94,900 25,460 25,460 0 1,000,000 8. (a) (b) 16.5% 25% 773,522 86,472 124,257 517,928 185,765 445,428 1,291,450 272,237 569,685 208

8. (c) (678,370) 2,307,521 7,868,899 1,645,091 2,797,760 (111,931) 380,741 1,298,368 271,440 461,630 1,794 2,244 1,860 1,485 79 (204,401) (173,195) (102,405) 426 16,473 19,527 19,858 4,890 109,711 (361,413) 8,186 176,096 154,703 205,491 (46,231) (2,054) 1,291,450 272,237 569,685 (d) 9. (a) 209

9. (b) 54,580,931 97,649,422 58,761,905 9,561,749 8,381,006 2,987,449 8,319,746 16,557,526 1,346,192 3,376,524 57,568,380 105,969,168 75,319,431 10,907,941 11,757,530 (c) 10% A 16,909,592 29,742,849 28,312,924 4,657,850 4,011,345 B 16,137,547 18,778,838 19,115,837 2,908,315 2,170,933 C 7,574,500 9,079,179 10,013,110 1,731,665 1,631,102 D 38,926,000 E 9,758,691 210

10. 2,584,028 602,621 387,132 982,284 576,121 5,132,186 660,935 545,602 56,626 992,523 652,028 2,907,714 8,281 50,103 8,958 81,670 47,900 196,912 3,253,244 1,198,326 452,716 2,056,477 1,276,049 8,236,812 323,749 522,961 944,661 357,120 2,148,491 3,576,993 1,721,287 452,716 3,001,138 1,633,169 10,385,303 367,093 73,998 206,663 926,603 1,574,357 4,067 46,014 4,633 80,228 43,659 178,601 3,948,153 1,841,299 664,012 4,007,969 1,676,828 12,138,261 36,979 14,080 147,976 1,573,007 1,772,042 4,659 43,840 9,157 95,428 39,924 193,008 3,989,791 1,899,219 821,145 5,676,404 1,716,752 14,103,311 1,585,207 60,262 163,409 98,228 57,612 1,964,718 554,673 119,833 50,467 205,648 127,605 1,058,226 828 5,010 896 8,167 4,790 19,691 2,140,708 185,105 214,772 312,043 190,007 3,042,635 412,451 172,129 48,540 300,114 163,317 1,096,551 2,553,159 357,234 263,312 612,157 353,324 4,139,186 456,021 184,129 69,670 400,797 167,683 1,278,300 1,040 9,550 1,239 16,364 9,445 37,638 3,010,220 550,913 334,221 1,029,318 530,452 5,455,124 63,919 31,654 14,230 94,607 28,612 233,022 1,417 13,117 2,048 24,508 12,630 53,720 3,075,556 595,684 350,499 1,148,433 571,694 5,741,866 1,112,536 1,013,221 237,944 1,744,434 1,086,042 5,194,177 1,023,834 1,364,053 189,404 2,388,981 1,279,845 6,246,117 937,933 1,290,386 329,791 2,978,651 1,146,376 6,683,137 914,235 1,303,535 470,646 4,527,971 1,145,058 8,361,445 211

11. 293,239 382,921 252,527 26,807 102,442 225,298 320,046 485,363 477,825 12. 7,238,064 6,958,101 8,895,318 1,681,878 1,747,402 (7,238,064) (6,958,101) (8,895,318) (379,695) (361,533) 494,830 292,143 1,797,013 1,678,012 1,398,412 1,505,274 1,675,494 201,761 368,275 7,918,615 9,035,153 10,715,371 972,627 1,921,186 212

13. 6,426,300 6,901,494 2,617,608 6,183,591 536,994 782,195 405,905 905,292 7,652,209 8,227,120 4,285,833 4,497,189 14 74,078 14,615,503 15,910,809 7,309,346 11,660,150 30 60 1 1 0 60 4,663,347 6,820,999 2,530,013 5,662,766 61 180 1,762,953 11,734 438,939 180 80,495 75,861 81,886 6,426,300 6,901,494 2,617,608 6,183,591 1,324,640 87,595 80,495 1,792,953 120 1,792,953 11,734 1,242,754 120 80,495 75,861 81,886 1,792,953 80,495 87,595 1,324,640 213

13. 86% 6,426,300 6,725,223 1,947,879 3,787,260 80,495 511,224 2,224,716 95,776 158,505 171,615 6,426,300 6,901,494 2,617,608 6,183,591 14. Wong Lit Keung 74,078 74,078 15. 214

16. 2,647,416 8,757,111 3,462,939 3,965,556 4,939,675 1,251,274 4,464,548 4,603,315 17 16,000,000 15,000,000 795,476 1,985,952 18 39,785 267,793 97,280 34,872 7,984 8,197 8,393 1,710,032 1,192,836 1,478,103 1,649,617 232,558 357,143 25,371,780 26,476,998 10,539,101 12,569,976 30 0 60 2,572,240 8,754,339 3,356,871 3,060,351 61 120 62,316 2,772 882,040 120 12,860 106,068 23,165 17. 18. 2,647,416 8,757,111 3,462,939 3,965,556 19. 10,000 1 10,000 10,000 10,000 10,000 2 1 2 2 2 2 215

19. 20. (a) (b) 10% 21. 593,045 609,279 611,285 625,840 2,662,115 2,830,028 2,998,024 3,168,024 2,378,771 1,634,092 884,482 794,396 5,633,931 5,073,399 4,493,791 4,588,260 22. 14,078,509 15,128,614 6,903,441 10,754,858 571,651 1,259,443 2,738,857 1,299,247 25,336,908 26,469,014 10,298,346 12,204,440 216

23. (a) 795,476 217

23. (a) 25,336,908 25,336,908 25,336,908 26,469,014 26,469,014 26,469,014 10,298,346 10,298,346 10,298,346 12,204,440 12,204,440 12,204,440 218

23. (b) (c) 24. 219

2. 57,600,000 48,900,000 2,300,000 1,500,000 700,000 84106,000,000 15113,100,000 2,200,000 700,000 75,000,000 106 2514,800,000 11,800,000 6,100,000 2,200,000 11,758,000 7.8 43 2,526,000 64 572,000 4,990,000 25,372,000 220

1,259,000 2,741,000 26,477,000 2,739,000 416% 1,299,000 301% 260 5,960,000 1,910 221

1. 1 22 2208-11 852 2122 9736 852 2180 9163 222

3.340 2410 1 15 3 223

4 66,087,497 65,108,132 62,955,847 10,658,689 9,011,454 (52,646,366) (50,933,662) (48,803,802) (8,023,828) (7,172,181) 13,441,131 14,174,470 14,152,045 2,634,861 1,839,273 4 141,993 828,806 117,955 197,781 (13,311,702) (13,372,969) (13,461,152) (2,189,306) (2,107,757) (14,149) (14,694) (6,225) (6,225) 5 257,273 786,807 1,513,474 557,285 (70,703) 7 33,149 (474,610) (102,574) (27,314) 290,422 786,807 1,038,864 454,711 (98,017) 46,419 (64,808) 55,222 168,307 290,422 833,226 974,056 509,933 70,290 224

9 1,132,231 2,086,098 5,229,009 5,262,263 10 5,844,554 8,734,706 5,938,889 5,591,039 12 557,940 906,853 420,611 775,666 6,402,494 9,641,559 6,359,500 6,366,705 13 5,357,944 7,140,796 5,382,889 5,405,959 14 176,322 184,159 15 1,503,803 1,115,991 1,049,652 125,199 474,610 501,924 5,659,465 8,828,758 6,973,490 6,957,535 743,029 812,801 (613,990) (590,830) 1,875,260 2,898,899 4,615,019 4,671,433 16 1,000,000 1,000,000 1,000,000 1,000,000 627,973 1,414,780 2,316,619 2,218,602 17 46,419 118,636 286,943 1,627,973 2,461,199 3,435,255 3,505,545 14 247,287 63,128 15 374,572 388,764 391,388 791,000 774,500 247,287 437,700 1,179,764 1,165,888 1,875,260 2,898,899 4,615,019 4,671,433 225

1,000,000 337,551 1,337,551 290,422 290,422 1,000,000 627,973 1,627,973 46,419 786,807 833,226 1,000,000 46,419 1,414,780 2,461,199 (64,808) 1,038,864 974,056 137,025 (137,025) 1,000,000 (18,389) 137,025 2,316,619 3,435,255 168,307 (98,017) 70,290 1,000,000 149,918 137,025 2,218,602 3,505,545 1,000,000 46,419 1,414,780 2,461,199 55,222 454,711 509,933 11,905 (11,905) 1,000,000 101,641 11,905 1,857,586 2,971,132 226

257,273 786,807 1,513,474 557,285 (70,703) 388,719 468,867 871,075 85,146 140,504 (141,993) 14,149 14,694 6,225 6,225 (98,506) (16,500) 518,148 1,270,368 2,292,268 648,656 53,301 (181,292) (2,890,152) 2,795,817 (152,765) 347,850 649,054 1,782,852 (1,856,907) 337,172 23,070 985,910 163,068 3,231,178 833,063 424,221 (125,199) 985,910 37,869 3,231,178 833,063 424,221 18 (154,351) (1,422,734) (4,013,986) (432,549) (7,248) 141,993 (12,358) (1,422,734) (4,013,986) (432,549) (7,248) 227

(14,149) (14,694) (6,225) (6,225) (121,625) (373,620) (61,209) (63,715) (523,011) (176,322) (247,287) (247,287) 2,000,000 988,506 (537,160) 1,687,359 361,374 (314,721) (63,715) 436,392 302,494 (421,434) 85,793 353,258 121,548 557,940 906,853 906,853 420,611 46,419 (64,808) 8,803 1,797 557,940 906,853 420,611 1,001,449 775,666 557,940 906,853 420,611 1,001,449 775,666 228

1. 21 13 2. (a) (b) (c) 12 27 28 7 9 10 11 12 13 229

2. (c) (d) (e) (i) (ii) (iii) (f) (i) (ii) (iii) (g) 230

2. (h) (i) 20 20 20% 231

2. (j) (i) (ii) 232

2. (k) (l) (m) 12 (n) (o) (p) 233

2. (q) (r) (s) (i) (ii) (iii) i) ii) (iv) ii)iii) 234

2. (s) (v) (t) 3. 2 235

3. 4. 66,087,497 65,108,132 62,955,847 10,658,689 9,011,454 141,993 98,506 16,500 730,300 117,955 120,904 60,377 141,993 828,806 117,955 197,781 66,229,490 65,108,132 63,784,653 10,776,644 9,209,235 236

5. 10,406,465 10,380,965 9,991,262 1,624,201 1,460,977 485,740 461,865 451,894 78,739 68,779 10,892,205 10,842,830 10,443,156 1,702,940 1,529,756 12,000 12,000 100,000 16,667 16,667 39,257,343 35,862,674 33,775,593 5,512,229 5,197,488 388,719 468,867 871,075 85,146 140,504 579,870 627,274 649,350 110,455 103,250 6. 480,000 24,000 504,000 480,000 24,000 504,000 480,000 24,000 504,000 237

6. 80,000 2,000 82,000 80,000 2,000 82,000 477,337 481,931 484,357 79,800 84,929 23,867 24,097 24,219 3,990 4,246 501,204 506,028 508,576 83,790 89,175 0 1,000,000 238

7. (a) (b) 16.5% 25% 212,747 59,891 27,314 52,476 42,683 (25,000) 209,387 (25,000) 474,610 102,574 27,314 (8,149) (33,149) 474,610 102,574 27,314 239

7. (c) 257,273 786,807 1,513,474 557,285 (70,703) 42,450 129,823 249,723 91,952 (11,666) 686 10,274 10,864 1,485 757 (8,149) (69,012) 9,668 8,599 3,295 6,487 25,876 (8,095) (17,781) (17,781) 48,085 (25,000) (209,387) 209,387 67,717 13,818 14,512 (16,349) 9,111 (33,149) 474,610 102,574 27,314 (d) 8. (a) 240

8. (b) 66,087,497 60,917,653 59,158,949 9,841,557 8,433,617 4,190,479 3,796,898 817,132 577,837 66,087,497 65,108,132 62,955,847 10,658,689 9,011,454 1,132,231 819,182 566,717 518,460 1,266,916 4,662,292 4,743,803 1,132,231 2,086,098 5,229,009 5,262,263 (c) 10% A 61,141,303 56,809,103 56,710,206 9,402,848 8,249,044 241

9. 782,542 919,287 1,701,829 154,351 946,620 1,100,971 (614,588) (614,588) 936,893 1,251,319 2,188,212 15,050 1,407,684 1,422,734 951,943 1,407,684 1,251,319 3,610,946 103,614 3,910,372 4,013,986 1,055,557 5,318,056 1,251,319 7,624,932 7,248 7,248 667 189,930 190,597 1,056,224 5,515,234 1,251,319 7,822,777 423,503 858,347 1,281,850 138,455 250,264 388,719 (614,588) (614,588) 561,958 494,023 1,055,981 138,775 140,768 189,324 468,867 700,733 140,768 683,347 1,524,848 149,946 531,805 189,324 871,075 850,679 672,573 872,671 2,395,923 17,025 91,925 31,554 140,504 67 24,020 24,087 867,771 788,518 904,225 2,560,514 374,935 757,296 1,132,231 251,210 1,266,916 567,972 2,086,098 204,878 4,645,483 378,648 5,229,009 188,453 4,726,716 347,094 5,262,263 567,972757,296 242

10. 3,812,509 5,430,170 4,531,652 4,110,527 175,086 153,586 208,366 256,500 1,394,044 82,994 73,781 98,922 11 462,915 3,067,956 1,125,090 1,125,090 5,844,554 8,734,706 5,938,889 5,591,039 45 1801 1 0 60 3,812,509 3,590,546 4,314,281 3,380,227 61 180 1,259 217,371 730,300 180 1,838,365 3,812,509 5,430,170 4,531,652 4,110,527 730,300 217,371 1,839,624 120 1,259 217,371 730,300 120 1,838,365 1,839,624 217,371 730,300 243

10. 3,812,509 3,591,805 4,531,652 4,110,527 1,838,365 3,812,509 5,430,170 4,531,652 4,110,527 11. 161B 1,125,090 3,282,230 3,067,956462,915 12. 557,940 802,181 363,056 756,258 104,672 57,555 19,408 557,940 906,853 420,611 775,666 13. 3,831,164 3,334,505 1,019,110 1,047,759 2,366,868 2,883,125 2,883,737 1,526,780 1,439,423 1,381,654 1,375,463 99,000 99,000 5,357,944 7,140,796 5,382,889 5,405,959 244

13. 60 0 60 3,610,300 3,334,505 930,442 979,873 61 120 220,864 88,668 67,886 3,831,164 3,334,505 1,019,110 1,047,759 14. 191,016 191,016 176,322 184,159 254,688 63,672 247,287 63,128 445,704 254,688 423,609 247,287 22,095 7,401 423,609 247,287 423,609 247,287 176,322 184,159 247,287 63,128 245

15. 2,000,000 1,878,375 1,504,755 1,441,040 (374,572) (388,764) (391,388) 1,503,803 1,115,991 1,049,652 374,572 388,764 391,388 1,503,803 1,115,991 1,049,652 1,878,375 1,504,755 1,441,040 1% 16. 1,000,000 1 1,000,000 1,000,000 1,000,000 1,000,000 246

17. (a) (b) 10% 18. 946,620 19. 583,000 449,000 558,000 501,330 112,000 8,000 80,000 40,000 695,000 457,000 638,000 541,330 20. 5,813,054 8,734,706 5,909,889 5,513,909 557,940 906,853 420,611 775,666 5,357,944 7,140,796 5,283,889 5,306,959 1,878,375 1,504,755 1,441,040 423,609 247,287 247

21. (a) 92% 2,000,000 1,441,040 1,504,755 1,878,375 248

21. (a) 5,357,944 5,357,944 5,357,944 191,016 191,016 63,672 445,704 423,609 5,548,960 191,016 63,672 5,803,648 5,781,553 7,140,796 7,140,796 7,140,796 441,997 441,997 1,178,382 2,062,376 1,878,375 191,016 63,672 254,688 247,287 7,773,809 505,669 1,178,382 9,457,860 9,266,458 5,283,889 5,283,889 5,283,889 441,997 441,997 736,385 1,620,379 1,504,755 5,725,886 441,997 736,385 6,904,268 6,788,644 249

21. (a) 5,306,959 5,306,959 5,306,959 441,997 441,997 662,720 1,546,714 1,441,040 5,748,956 441,997 662,720 6,853,673 6,747,999 1,441,040 1,504,755 1,878,375 15 1 (b) (c) 22. 250

2. 66,100,000 66,000,000 1,000,000 140,000 300,000 1,000,000 700,000 300,000800,000 63,000,000 65,100,000 14,100,000 700,000 0.7100,000800,000 1,500,000 970,000 9,000,000 15.5 41 36 2,600,0001,800,00030 70,000 251

558,000 363% 907,000 377%2,000,000 1% 421,000 237%2,000,000 1% 776,000 231%2,000,000 1% 100 11,000,000 9,166 252

253

1. 1 22 2208-11 852 2122 9736 852 2180 9163 ) 100% 254

3.340 2410 255

1 15 3 256

4 85,098,099 74,722,796 91,396,505 28,916,458 32,942,097 (42,571,794) (42,955,742) (56,549,533) (17,677,383) (24,471,636) 42,526,305 31,767,054 34,846,972 11,239,075 8,470,461 151,842 136,022 179,457 2,110,369 (677,226) 4 2,830,608 4,251,491 4,286,688 1,385,552 3,840,201 (18,193,443) (11,192,189) (13,090,913) (2,481,078) (3,123,653) (11,938,269) (9,187,777) (13,319,008) (4,665,918) (5,091,162) 5 (2,597,292) (2,025,006) (796,267) (239,792) (318,960) 6 12,779,751 13,749,595 12,106,929 7,348,208 3,099,661 8 (1,278,903) (729,889) (1,832,818) (678,815) (193,253) 11,500,848 13,019,706 10,274,111 6,669,393 2,906,408 257

10 91,956,135 91,735,323 87,707,834 85,427,718 11 2,238,563 1,432,429 12,431,514 15,890,863 94,194,698 93,167,752 100,139,348 101,318,581 12 3,460,616 2,428,928 4,424,506 4,199,375 13 1,292,678 1,497,109 2,043,554 2,288,651 14 19,634,765 19,428,903 27,361,791 32,583,934 16 5,264,651 6,217,117 9,926,606 3,933,837 29,652,710 29,572,057 43,756,457 43,005,797 17 20,807,614 15,081,813 10,680,437 10,770,762 18 26,688,000 14,998,000 16,998,000 14,598,000 47,495,614 30,079,813 27,678,437 25,368,762 (17,842,904) (507,756) 16,078,020 17,637,035 76,351,794 92,659,996 116,217,368 118,955,616 19 14,000,000 15,000,000 20,000,000 20,000,000 51,690,340 63,300,293 73,426,007 76,027,607 20 5,509,180 6,918,933 7,067,330 7,372,138 71,199,520 85,219,226 100,493,337 103,399,745 5,152,274 7,440,770 15,724,031 15,555,871 76,351,794 92,659,996 116,217,368 118,955,616 258

14,000,000 185,605 3,682,453 41,830,614 59,698,672 11,500,848 11,500,848 1,641,122 (1,641,122) 14,000,000 185,605 5,323,575 51,690,340 71,199,520 1,000,000 1,000,000 13,019,706 13,019,706 1,409,753 (1,409,753) 15,000,000 185,605 6,733,328 63,300,293 85,219,226 5,000,000 5,000,000 10,274,111 10,274,111 148,397 (148,397) 20,000,000 185,605 6,881,725 73,426,007 100,493,337 2,906,408 2,906,408 304,808 (304,808) 20,000,000 185,605 7,186,533 76,027,607 103,399,745 15,000,000 185,605 6,733,328 63,300,293 85,219,226 5,000,000 5,000,000 6,669,393 6,669,393 47,167 (47,167) 20,000,000 185,605 6,780,495 69,922,519 96,888,619 259

12,779,751 13,749,595 12,106,929 7,348,208 3,099,661 4,740,699 5,981,833 6,881,257 2,526,203 2,686,963 (587) 2,574,501 2,023,581 796,267 53,492 318,960 (151,842) (136,022) (179,457) (2,110,369) 677,226 (373,913) (373,912) (1,428,584) (243,160) (254,160) 375,788 228,865 941,049 97,618 928,049 (12,567) (8,809) (8,900) (3,588) (2,728) 304,631 321,450 557,319 (2,400,000) 20,489,736 21,465,131 20,662,691 7,570,786 4,222,953 (1,484,898) 1,031,688 (2,317,028) (860,700) 225,131 74,236 (68,409) (671,619) (1,479,730) (922,323) 10,479,581 (752,892) (35,295,550) (40,691,493) (5,513,014) 11,013,009 (5,245,214) 23,173,215 24,954,049 90,325 40,571,664 16,430,304 5,551,709 (10,507,088) (1,896,928) 260

(26,431,227) (4,954,887) (13,852,853) (2,631,950) (3,866,259) 650 12,567 8,809 8,900 3,588 2,728 (26,418,660) (4,946,078) (13,843,953) (2,628,362) (3,862,881) 1,000,000 5,000,000 5,000,000 10,000,000 12,000,000 2,000,000 (12,446,216) (21,690,000) (10,000,000) (2,109,914) (2,234,168) (796,267) (53,492) (318,960) 2,082,000 2,100,000 (1,390,000) (2,370,000) (422,000) 2,662,408 6,220,000 1,935,805 86,000 (13,864,130) (10,531,760) 12,001,733 8,882,313 (232,960) 288,874 952,466 3,709,489 (4,253,137) (5,992,769) 4,975,777 5,264,651 6,217,117 6,217,117 9,926,606 5,264,651 6,217,117 9,926,606 1,963,980 3,933,837 5,264,651 6,217,117 9,926,606 1,963,980 3,933,837 261

1. 2. (a) (b) 262

(f) (g) (h) (i) 264

20 5 1020 20% 510 20% (j) 2(i) (k) (i) 265

(ii) (l) (m) (n) 266

(o) (p) 12 (q) (r) (s) (t) 267

(u) (i) (ii) (iii) i) ii) (iv) ii)iii) (v) (v) 3. 2 268

269

4. 85,098,099 74,722,796 91,396,505 28,916,458 32,942,097 1,431,713 2,834,500 2,384,944 381,180 744,472 12,567 8,809 8,900 3,588 2,728 1,200,000 1,396,456 1,350,000 579,167 658,333 186,328 11,726 542,844 421,617 34,668 2,400,000 2,830,608 4,251,491 4,286,688 1,385,552 3,840,201 87,928,707 78,974,287 95,683,193 30,302,010 36,782,298 5. 1,950,144 1,769,581 735,944 186,300 318,960 624,357 254,000 60,323 53,492 22,791 1,425 2,597,292 2,025,006 796,267 239,792 318,960 270

6. 10,410,088 9,707,908 9,582,537 3,248,596 4,324,717 148,845 362,522 111,725 50,421 59,507 10,558,933 10,070,430 9,694,262 3,299,017 4,384,224 32,034,888 33,520,546 41,139,591 14,486,365 18,639,609 4,740,699 5,981,833 6,881,257 2,526,203 2,686,963 375,788 228,865 941,049 97,618 928,049 557,319 304,631 321,450 3,925,665 3,270,401 3,833,317 1,739,838 2,510,453 7. 200,153 200,911 221,313 92,376 96,784 5,696 6,327 7,178 2,800 2,520 205,849 207,238 228,491 95,176 99,304 0 1,000,000 8. (a) 35% 6,750 271

(b) (c) 12,779,751 13,749,595 12,106,929 7,348,208 3,099,661 4,472,912 4,812,358 4,237,425 2,571,874 1,084,881 26,639,711 22,880,201 20,210,103 6,212,041 8,458,406 (29,833,720) (26,962,670) (22,614,710) (8,397,507) (9,556,392) 292,407 206,358 1,278,903 729,889 1,832,818 678,815 193,253 (d) 9. (a) 272

(b) 44,934,099 44,536,796 62,701,505 20,680,380 21,820,043 40,164,000 30,186,000 28,695,000 8,236,078 11,122,054 85,098,099 74,722,796 91,396,505 28,916,458 32,942,097 (c) 10% A 18,120,000 12,442,000 12,802,000 2,572,000 5,562,000 B 10,566,000 7,600,000 6,973,000 2,865,000 3,225,000 C 10,199,000 7,182,000 5,376,000 1,688,000 2,108,000 273

10. 15,930,836 621,305 848,159 994,215 71,535,967 1,329,655 91,260,137 299,754 118,437 2,312,220 70,570 2,800,981 11 4,312,191 29,137 19,322,049 23,663,377 20,243,027 650,442 1,147,913 1,112,652 93,170,236 1,400,225 117,724,495 201,800 800 59,600 1,795,838 503,030 2,561,068 (7,620) (7,620) 11 2,733,950 318,175 55,869 91,959 3,199,953 23,178,777 968,617 1,204,582 1,172,252 95,058,033 1,895,635 123,477,896 171,332 354,868 343,245 434,323 1,303,768 11 1,550,000 1,550,000 24,728,777 968,617 1,375,914 1,527,120 95,401,278 2,329,958 126,331,664 8,000 3,310 76,370 313,930 5,300 406,910 (1,250) (1,250) 24,728,777 976,617 1,379,224 1,602,240 95,715,208 2,335,258 126,737,324 2,973,709 7,833 334,925 546,422 15,909,042 1,255,730 21,027,661 748,555 29,512 80,489 141,374 3,727,365 13,404 4,740,699 3,722,264 37,345 415,414 687,796 19,636,407 1,269,134 25,768,360 947,060 37,231 141,265 138,215 4,637,531 80,531 5,981,833 (7,620) (7,620) 4,669,324 74,576 556,679 826,011 24,273,938 1,342,045 31,742,573 1,137,709 39,674 153,558 109,673 5,292,948 147,695 6,881,257 5,807,033 114,250 710,237 935,684 29,566,886 1,489,740 38,623,830 488,418 19,424 67,114 64,385 1,967,786 79,836 2,686,963 (1,187) (1,187) 6,295,451 133,674 777,351 998,882 31,534,672 1,569,576 41,309,606 16,520,763 613,097 732,499 424,856 73,533,829 131,091 91,956,135 18,509,453 894,041 647,903 346,241 70,784,095 553,590 91,735,323 18,921,744 854,367 665,677 591,436 65,834,392 840,218 87,707,834 18,433,326 842,943 601,873 603,358 64,180,536 765,682 85,427,718 274

11. 2,829,013 23,630,246 10 (23,663,377) (557,319) 2,238,563 2,393,819 10 (3,199,953) 1,432,429 12,549,085 10 (1,550,000) 12,431,514 3,459,349 15,890,863 12. 1,468,026 1,092,500 1,834,456 2,702,229 1,020,510 1,247,250 1,270,142 1,127,168 972,080 89,178 1,319,908 369,978 3,460,616 2,428,928 4,424,506 4,199,375 275

13. 1,215,072 1,292,678 1,497,109 2,043,554 23,024,788 18,847,625 20,751,544 10,990,992 (23,099,024) (18,779,216) (20,079,925) (10,068,669) 151,842 136,022 179,457 (677,226) (304,631) 1,292,678 1,497,109 2,043,554 2,288,651 6,588,586 6,328,385 6,545,026 1,067,723 1,778,377 55,542,126 41,577,903 45,084,163 8,009,108 12,553,275 14. 2,955,490 3,851,967 8,728,171 10,748,866 375,788 604,653 1,408,722 1,506,340 2,579,702 3,247,314 7,319,449 9,242,526 924,958 2,205,832 1,061,640 10,888,027 15 1,711,945 3,399,854 3,327,709 3,467,552 14,418,160 10,575,903 15,652,993 8,985,829 19,634,765 19,428,903 27,361,791 32,583,934 276

60 1801 1 0 60 1,382,725 1,277,956 5,115,201 4,887,213 61 180 855,175 1,491,135 866,969 2,413,959 180 341,802 478,223 1,337,279 1,941,354 2,579,702 3,247,314 7,319,449 9,242,526 3,761,093 2,204,248 1,9,69,358 1,196,977 120 855,175 1,491,135 866,969 2,413,959 120 341,802 478,223 1,337,279 1,941,344 1,196,977 1,969,358 2,204,248 4,355,303 277

375,788 604,653 1,408,722 375,788 228,865 941,049 97,618 (136,980) 375,788 604,653 1,408,722 1,506,340 1,506,340 1,408,722604,653 375,788 15. 161B 995,934 124,534 773,274 995,934 839,426 839,426 1,711,945 2,403,920 2,363,749 2,263,749 2,403,920 430,529 430,529 1,711,945 3,399,854 3,327,709 3,467,552 16. 278

17. 3,972,080 2,352,107 5,305,261 2,839,245 6,498,588 5,452,996 2,978,860 4,991,156 a 692,000 422,000 1,135,149 652,437 1,129,478 1,210,720 4,334,395 774,233 428,644 997,006 3,193,435 4,075,430 583,584 583,584 b 129,357 b 852,610 1,352,610 254,610 149,051 20,807,614 15,081,813 10,680,437 10,770,762 a 20% 25% b 60 0 60 1,616,465 162,340 4,023,843 1,426,891 61 120 18,944 45,994 210,400 131,697 120 2,336,671 2,143,773 1,071,018 1,280,657 3,972,080 2,352,107 5,305,261 2,839,245 279

18. 14,000,000 a 14,000,000 10,000,000 b 2,500,000 7,500,000 b 7,500,000 12,000,000 c 12,000,000 12,000,000 d 12,688,000 4,998,000 4,998,000 2,598,000 26,688,000 14,998,000 16,998,000 14,598,000 26,688,000 14,998,000 10,998,000 14,598,000 c 6,000,000 26,688,000 14,998,000 16,998,000 14,598,000 a 7.25% 9.71% b 5.3% c 6.21% d 280

19. 1,000,000 7,000,000 4,000,000 2,000,000 1,000,000 5,000,000 20. 10% 50% 21. 815,000 815,000 4,246,000 3,880,000 4,190,000 4,130,000 14,491,000 18,379,000 13,079,000 13,950,000 45,323,000 54,293,000 18,084,000 18,895,000 64,060,000 76,552,000 22. 891,000 402,000 1,680,950 6,098,000 3,307,000 6,298,804 2,571,950 6,500,000 3,307,000 6,298,804 281

23. 19,634,765 19,428,903 27,361,791 32,583,934 5,264,651 6,217,117 9,926,606 3,933,937 13,279,784 10,232,150 9,668,209 9,190,172 26,688,000 14,998,000 16,998,000 14,598,000 24. (a) 282

15,500,000 24,000,000 12,000,000 12,000,00014,000,000 10,000,000 12,000,000 12,000,000 13,279,784 13,279,784 13,279,784 27,677,333 27,677,333 26,688,000 40,957,117 40,957,117 39,967,784 10,232,150 10,232,150 10,232,150 15,086,333 15,086,333 14,998,000 25,318,483 25,318,483 25,230,150 283

9,668,209 9,668,209 9,668,209 17,753,408 17,753,408 16,998,000 27,421,617 27,421,617 26,666,209 9,190,172 9,190,172 9,190,172 15,240,312 15,240,312 14,598,000 24,430,484 24,430,484 23,788,172 12,000,000 12,000,00010,000,000 14,000,000 18 6.21% 6.21%5.3%7.25% 9.71% (b) 13 284

(c) 25. 200,153 200,911 211,313 92,376 96,784 42,554,274 27,983,217 32,240,635 8,948,667 12,435,163 2,533,258 1,185,014 2,115,991 483,607 884,733 26. 27. 285

2. 32,900,00028,900,000 39% 26% 2,400,000 2,100,000 700,000 5,000,000 2,200,000 6,600,000 2,900,000 91,300,00074,720,000 6,328,385 3.4% 6,545,026 42.5%38% 13,020,00010,270,000 74,720,000 85,100,000 6,588,586 6,328,385 11,500,00013,020,000 1,400,000 500,000 3,930,000 39.58% 12,000,0006.21% 6,300,000 9,930,000 43.19% 12,000,0006.21% 286

3,310,000 6,220,000 5,260,000 44.03% 10,000,000 5.3% 6,500,000 452 4,100,000 1,812 12,000,000 287

A. (i) (ii) (iii) (iv) (1) (7) (5) (7) 288

B. 15,097 75,319 62,956 111,460 264,832 (14,776) (60,551) (48,804) (68,962) (193,093) 321 14,768 14,152 42,498 71,739 9 1,815 829 5,446 8,099 (9,951) (8,646) (13,461) (32,207) (64,265) (68) (6) (971) (1,045) 42,800 42,800 (2) (3) (9,621) 7,869 1,514 14,766 42,800 57,328 (1,291) (475) (2,235) (4,001) (9,621) 6,578 1,039 12,531 42,800 53,327 (501) (65) (566) (9,621) 6,077 974 12,531 42,800 52,761 289

C. (1) (7) 1 2 3 4 5 6 7 11 8,361 5,262 123,558 137,192 52,536 52,536 22,888 12,745 16,903 2,413 1,299 776 4,798 35,564 44,850 87,800 (29,500) 3,014 (5,000) (20,750) 764 11,660 5,591 39,737 (15,000) 42,752 (15,000) 2,156 7,912 10,068 (77,997) (14,400) (5,908) (13,135) 100,286 (11,154) 68,800 29,500 1,986 (1,441) (17,802) (19,243) (3,214) (775) (18,971) (22,960) (25,325) (1,000) (24,390) 37,549 (13,166) 22,159 (10,000) 1,000 24,390 (23,950) (23,950) (13,800) (2,250) (750) (7,150) (163,532) (68,568) (232,100) 163,532 (90,000) (31,500) (10,500) (100,100) (126,883) 126,883 126,883 390,549 (5,862) (2,505) (101,707) (245,300) 35,175 (312,574) 12,200 (55,000) 5,862 2,505 101,707 290

D. (9,621) 7,869 1,514 14,765 14,527 186 1,278 871 8,391 10,726 6 6 (2) (11) (13) 971 971 68 6 74 (218) (218) (99) (1,743) (1,842) 658 2,279 2,937 372 372 391 391 (8,771) 9,213 2,292 25,197 27,931 (165) (3,645) (3,810) 5,105 8,601 2,796 (43,044) (26,542) 1,150 (16,170) (1,857) 28,260 11,383 (2,516) 1,479 3,231 6,768 8,962 (43) (43) (2,516) 1,436 3,231 6,768 8,919 291

(2) (1,574) (4,014) (16,894) (22,484) 2 11 13 (2) (1,572) (4,014) (16,883) (22,471) (374) (12,195) (31,486) (44,055) (247) (247) 2,850 14,634 17,484 6,098 87,800 93,898 (68) (6) (970) (1,044) (515) (515) 2,326 988 7,585 10,899 (20,750) (20,750) 2,850 2,258 361 14,637 55,670 332 2,122 (422) 4,522 42,118 103 1,259 907 7,582 9,851 (642) (65) (707) 435 2,739 420 12,104 51,262 435 2,739 420 12,104 51,262 292

(1) 0.00875 22,159,000 126,883,000 163,532,000 (2) 8,000,0004,200,000 87,800,000(3)55,000,0008,000,000 4,200,000 42,800,000 (3) 68,800,000 1,380,000,000 0.0155,000,000 68,800,00013,800,000 (4) 29,500,000 (5) 15,000,000 0.15225,000,000 0.01 20,000,00020,000,000 1,986,000 3,014,0001,986,000 22,888,00048,750,000 20,000,0005,862,000 (6) 5,000,000 0.1575,000,000 0.01 12,745,00016,250,000 3,505,000 (7) 35,750,000 0.15 715,000,000 0.01 100% 16,903,000 143,000,000126,097,000 293

100% 293 4 29 7 4 29(7) 300 294

4 29(1) 100% 100% a) b) c) 4 29(1) 295

1.............. 34,200,000...................................... 0.02 2. 1. 2. 3. 4. 5. 6. 7. 8. 10% 296

3.341 297

26 2109 298

A 0.01A B 0.01 225,000,000B 0.01 75,000,000B 0.01 715,000,000B Modern Excellence A B 25% 299

A A 2% B (i) A A 14 A (ii) B B (iii) A 300

301

1 A 0.01 B 0.01 Right Day Holdings Limited Right Day Holdings Limited 302

1(C) 21 95% 21 63 1(D) 14 95% 14 63 303

8A A 1) A (i) A (ii) A A (iii) A A A (iv) A (v) A A 25% A 304

(vi) A A A 2% A (vii) 2) A B A 305

3) A A 4) A 5) A A 14 A A 306

6) A 7) A A 8B B 1) B (i) B (ii) B B 307

(iii) B B B (iv) B (v) B B 25%B (vi) B B (vii) 308

2) B A B 3) B B 4) B 309

5) B 6) B 7) B B 310

63 (i) (ii) (a) (b) 95% 311

70 (i) (ii) (iii) (iv) 312

71 72 72 73 74 72 313

76 79 314

315 81 83

85 (i) (ii) 99 (i) (ii) (3) 175A 175 177 8A 8B 316

1. 1.1 25003500 40005000 50007000 7000 80001600 200 1,200 13.28 1.21716 0.092 40% (i) (ii) (iii) (iv) 1.2 GNP 9% 13.28 317

GDP 11.3%36.6% ( ) GDP 28.2 70.5 5.4 67.6 30.2 68.7 4.8 65.7 28.4 62.4 13.5 56.5 12.1 24.5 27.1 60.1 13.4 53.1 16.1 17.2 20.0 52.2 18.7 40.0 9.3 9.4 15.1 50.0 21.0 38.2 5.0 6.3 14.4 50.0 21.6 37.4 4.9 6.0 13.7 50.0 22.4 35.8 4.2 5.6 12.8 49.1 23.8 35.0 4.6 4.7 13.4 46.9 25.4 34.1 5.0 3.9 12.2 44.8 26.9 32.8 4.3 3.6 11.3 42.6 32.5 4.1 3.2 11.3 40.8 32.3 4.3 3.0 11.3 39.6 32.0 5.1 2.8 171.5% 2994.4 1.3 318

1.4 150,000 3,870 7.2 3,480 13.8% 172,000 9,511 1,649 2.5665.203 (54.5% 45.5% 5.50 1.5 1.6 5.29 1.9% 2.55.02.3% 0.30.4 319

1.7 4,761 4,627 3006% 2.50 30.7% 1,479 1.6% 4,007 1.89 272.39 20.9 262.1 199.5 14.95.46.0 9.7 4.6 3.8 1.8 320

321

2% 8 2. 2.1 10 360,000 440,000 690,000 90 23 10% 322

13% 2% 2.2 2423 24 4% 2.3 402,000558,000 650,000 430,000 2.3.1 250,000 280,00065 35 14 18% 56%23% 95% 611,909 610,212619,489161515 13 18% 323

680 AQSIQ 2.3.2 23% 530,000,000 12% 260,000,000 80,000,000 3.5% 5% 2.4 324

3. 3.1 5,8471.3 0.9%5,2395.9 6.1% 5,713.2 22.6 10.9% 8.20 7.0 45.9%2.4 1,80080% 1,500 2 3 3.2 318.00 1,500 3.3 325

41 95% 3.4 140 20 1,000 15.2% 326

61991.6 9.7% 3.4% 4. 21 4.1 13 2080 95% 4.2 90 327

4.3 1,250 140 8 4.4 1,470 4.5 20 80 328

5. 5.1 95% 55.40 680 3,2001.20 1.212 1.203 5.2 53% 90% 5.3 50% 1.5 1 250500 329

5.4 8 45% 30% 5.5 5.6 5.7 330

5.8 5.9 6. 6.1 8,758 6.2 (i)13 (ii)8,75012,500 331

270(iii)(iv) 6.3 14.8% 5,050 8,760 8.0 6.4 1. 2. 3. 4. 5. 332

7. 612 5 6 8. 333

3 334

1. 2. (i)(ii) (iii)(iv) A A (v) B B 160,000,000,000 1,600,000,000 335

150,000,000,000 1,500,000,000 10,000,000,000 100,000,000 2,532,543,083 25,325,430 316,567,885 3,165,678.85 1,000,000,000 10,000,000.00 4,000,000 40,000.00 1,320,567,885 13,205,678.85 2,395,000,000 23,950,000.00 336

3. (a) XV XV78 352 (b) XV2 3 10% 530,530,000 20.95% Crowneast Worldwide Limited 530,530,000 20.95% 1 530,530,000 20.95% 1 530,530,000 20.95% 1 Concord 550,530,000 21.74% 1 550,530,000 21.74% 1 2 550,530,000 21.74% 1 2 337

Evertop Investment Holdings Limited 550,530,000 21.74% 1 3 550,530,000 21.74% 1 3 550,530,000 21.74% 1 4 550,530,000 21.74% 1 4 430,000,000 16.98% 334,000,000 13.19% 1. 530,530,000100Crowneast Worldwide Limited Concord 60% 40% Concord Evertop Investment Holdings LimitedEvertop 33% 34% 33% Concord 20,000,000 530,530,000Evertop Concord 550,530,000 2. 99% Concord 550,530,000 3. Evertop Concord 550,530,000 4. 98% Concord 550,530,000 (c) 224 338

(d) (i) (1) (2) (3) (4) 22 8 (ii) (iii) (2) (iv) (v) (vi) 224 (vii) 228 50% 26 339

4. 5. (a) 22 4 (b) 22 4 (c) (i) (ii) (2) (iii) (1) (2) (3) (4) 340

(iv) (v) Concord (vi) 6. 7. (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) 341

8. (a) (b) (c) (d) 9. (i)6 (ii) 12 (iii)12 342

14A.13(1)(b) 14A.13(1)(b) 10. 11. 343

12. Canon s Court 22 Victoria Street, Hamilton HM12 Bermuda 26 2109 P.O. Box 957 Offshore Incorporations Centre Road Tow, Tortola British Virgin Islands First Vanguard Opportunity Fund SPC First Vanguard Private Equity Segregated Portfolio Wanthorpe Opportunity Fund SPC Wanthorpe Private Equity Segregated Portfolio Walkers SPV Limited Walker House 87 Mary Street George Town Grand Cayman KY1-9022 Cayman Islands Nice Grace Holdings Limited P.O. Box 957 Offshore Incorporations Centre Road Town, Tortola British Virgin Islands Excel Mind Investments Limited P.O. Box 957 Offshore Incorporations Centre Road Town, Tortola British Virgin Islands Capital Faith Limited P.O. Box 957 Offshore Incorporations Centre Road Town, Tortola British Virgin Islands 344

11 32 181 25 2505-06 1 1 22 2208-11 89 1 1109 Appleby 1 2206-19 28 26 1 CP2 345

13. (a) 6 2-1-402 172 4 902 Jia Jia Building 401 29 35 9 2 501 57-59 8 346

6 7 (b) 39 21 13 10 D 39 8-12 3 3 B 8 A2 5 B 12 9 924 347

14. 1 2 46 9 15. 26 2109 www.sfc.hk www.875.com.hk (i) (ii) (iii) 16 89 (iv) 90 97 348

(v) 100 137 (vi) (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) (xv) Concord (xvi) 16. First Vanguard OpportunityFund SPC First Vanguard Private Equity Segregated Portfolio Wanthorpe Opportunity Fund SPC Wanthorpe Private Equity Segregated PortfolioWanthorpe SPC Tan Poh Oon Philip Nice Grace Holdings LimitedExcel Mind Investments Limited Yin Jason HoeyanCapital Faith Limited Xu Yajun 349

* 875 26 2109 1. 2 12 4 (A) 1 (i) (ii) A 0.01 B 0.01 * 350

(iii) (iv) Right Day Holdings Limited Right Day Holdings Limited (v) (B) 8A 8 8A 8AA 1) A (i) A (ii) A A (iii) A A A (iv) A 351

(v) A A25% A (vi) A A A 2% A (vii) 2) A B A 3) A A 4) A 352

5) A A 14 A A 6) A 7) A A (C) 8B 8A8B 8B B 1) B (i) B (ii) B B 353

(iii) B B B (iv) B (v) B B 25% B (vi) B B (vii) 2) B A B 3) B B 354

4) B 5) B 6) B 7) B B (D) 1(C) 1(C) 1(C) 63 (E) 1(D) 1(D) 1(D) 65 355

(F) 63 63 63 (a) (b) 95% (G) 70 70 70 (H) 71 71 71 72 356

(I) 72 72 72 (J) 73 73 73 (K) 74 74 (L) 76 76 76 (N) 79 79 79 357

(O) 81 81 81 (P) 83 83 83 (Q) 85 85 85 (i) 358

(ii) (R) 99 99 (3) (S) 175A 175 175A 175A 176 1778A 8B 2. 1 4 (a) 0.010.00125 1,600,000,000 160,000,000,000 0.01 200,000,000 160,000,000,000 0.00125 22,159,751.9825,325,430.833,165,678.85 (b) 0.01 359

(c) 130,000,000,000 10,000,000,000 20,000,000,000 200,000,000 150,000,000,000 0.01 10,000,000,000 1,600,000,000 5,000,000,000 A A 5,000,000,000BB AB1 (d) 163,532,000 (e) 22,160,000 163,532,000 412,239,000 (f) 3. (i)2 0.01 4,00020,000 360

4. (i)32 166(ii)2 3 5 12 (a) Right Day Holdings Limited A (b) 5. (i)(ii) 4 (iii) (a) 10,000,000 1,000,000,000 (b) (c) 361

6. (i)(ii) 4(iii) (a) 13,800,000 1,380,000,000 A B A (b) A (c) 7. (i)(ii) 4(iii) (a) 4,000,000 (b) (c) 362

8. (i)2 (ii) 4(iii) B (a) 48,750,000 C D (b) 33,750,000 B (c) B B 9. (i)2 (ii) 4(iii) B 363

(a) 16,250,000 E F (b) 11,250,000 B (c) B B 10. (i)2 (ii) 4(iii) B (a) 143,000,000 Modern Excellence Limited G H (b) 107,250,000 B 364

(e) (f) (g) 26 2109 1. 2. 3. 28 26 4. 366