2 4 17 22 35 49 51 52 53 55 56 58 131 132 1
2,546 2,418 449 336 440 327 55.50 41.19 14.50 11.20 8.5% 6.9% 7,035 6,082 (1,693) (1,198) (137) (135) 5,205 4,749 6.56 5.99 2
本公司擁有人應佔溢利 本公司擁有人應佔權益 500 6,000 400 300 316 291 327 440 5,000 4,000 3,921 4,049 4,420 4,749 5,205 3,000 200 189 2,000 100 1,000 0 0 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 每股基本盈利 本公司擁有人應佔每股權益 60 55.50 7 6.56 50 40 39.82 36.66 41.19 6 5 4 4.94 5.11 5.57 5.99 30 23.80 3 20 2 10 1 0 2009 2010 2011 2012 2013 0 2009 2010 2011 2012 2013 3
2,546,000,000 2,418,000,000 440,000,000 327,000,00035% 10.2 7.7 4
收費公路 5
387,000,000 312,000,00038.90% 648,000 2,000,000 2,155,000 19,000,000 7,404,00025,000,000 0.64% 1,002,000,000 818,000,00022% 259,000,000180,000,000 68,000,0001,895,000,000 87%94% 49% 6
主席報告書 房地產 發展 惠記集團有限公司 二零一三年年報 7
28% 11,060 18% 23% 11,456,000,000 913,000 10,430 17% 849,000,000 5,600,000 8
建築 9
12,000,000 11,000,00051.17% 2,193,000,000 2,142,000,000 21,000,000 21,000,00014,000,000 6,000,000 7,000,000 15,000,000 3,000,000,000900,000,000 8,000,000,000 49%3,300,000,000 3,000,000,000 700,000,0001,900,000,000 35,00050,000 10
建築材料 11
362,000,000 309,000,000 17,000,000 7,000,000 79,000,000 70,000,000 8,000,000 9,000,000 800,000 10,000,000 78,000,000 Grand China Cayman Investors III, Limited 34.6%28,900,00040% 2,59490% 7,800,000 61,000,000Elite International Limited I LPElite Fund 30%24,000,00075% 7201Elite Fund 3,600,000 28,000,000 12
石礦 13
219,000,000 239,000,000 166 193 30 16 43 10 239 219 224 219 15 239 219 58,000,000 26,000,000 341,000,000 175,000,000 30,000 10,000 7,000,000 6,000,000 62,000,000 61,000,000 22,000,000 20,000,000 9,000,000 21,000,0007,000,000 15,000,000 14
5,205,000,000 6.56 4,749,000,0005.99 4.6% 4.6% 2.0% 0.9% 14,000,000 18,000,000 248,000,000 243,000,000 18,000,000 800,000 15
16
Chai-Na-Ta Corp. 17
University of EdinburghUniversity of Essex Richard Ivey School of Business 18
Amrop HeverNorman Broadbent 19
Kaden Construction LimitedKaden Kaden Kaden Kaden (Sharjah)Leader Marine Cont. L.L.C. Kaden KadenThe City UniversityThe University of Hull 20
Kaden Kaden1108 Kaden Heriot-Watt University 21
A.2.1 A.2.1 22
3.10(1)3.10(2)3.10A A.4.1 3.13 23
24
5/5 4/4 2/2 1 0 5/5 4/4 2/2 1 1 5/5 1 1 5/5 1 1 4/5 0 0 5/5 1 1 5/5 2/3 4/4 2/2 1 1 5/5 3/3 4/4 2/2 1 1 5/5 3/3 4/4 2/2 1 1 25
A,B,C B,C B,C B,C B,C B,C B,C B,C B,C A: B: C: 26
27
28
29
30
12 1,000,000 1 1,000,0012,000,000 5 2,000,0013,000,000 8 31
2,570,000 939,000 552,000 4,061,000 49 50 32
the Committee of Sponsoring Organization of the Treadway Commission 33
100 34
50 21 22 79%42% 17% 5% 5152 4.3 10.2 15 2826 18322 35
2826 183 22 55 (a) (b) 604,016,000 131 17 38 40 36
87 3.13 37
XV XV 7 8 352 (I) % 192,381,843 24.26 185,557,078 23.40 300,000 0.04 900,000 0.11 38
(II) % 1,400,000 1 0.11 3 3,400,000 2 0.46 2,000,000 1 10.00 30,000 1 37.50 111,475,228 1 8.98 9,096,000 1 1.24 4 2,350,000 2 0.32 2,000,000 1 10.00 30,000 1 37.50 1,116,000 1 0.09 205,000 1 0.03 186,666 1 0.02 150,000 2 0.02 1,170,000 1 0.09 407,448 1 0.03 39
(II) 1. 2. (II) 3. 1,241,877,992 4. 735,178,566 350,000,000 9.5% 907,188 1 2 350,000,000 9.875% 4,300,000 1 1. 2. 171,630 XV 352 40
(I) (II) 22,200,0003,650,000 12,145,0007,805,000 * 6.79 1,400,000 1,400,000 7.13 2,000,000 2,000,000 6.79 850,000 850,000 7.13 1,500,000 1,500,000 7.13 150,000 150,000 2,250,000 3,650,000 5,900,000 * 6.94 XV 41
42
336 XV 2 3 1 % Cheng Yu Tung Family (Holdings) Limited 2 213,868,000 26.97 Cheng Yu Tung Family (Holdings II) Limited 3 213,868,000 26.97 Chow Tai Fook Capital Limited 4 213,868,000 26.97 Chow Tai Fook (Holding) Limited 5 213,868,000 26.97 6 213,868,000 26.97 7 213,868,000 26.97 8 213,868,000 26.97 9 213,868,000 26.97 NWS Service Management Limited 10 213,868,000 26.97 Vast Earn Group Limited 11 213,868,000 26.97 43
1. 2. Cheng Yu Tung Family (Holdings) Limited Chow Tai Fook Capital Limited 3. Cheng Yu Tung Family (Holdings II) Limited Chow Tai Fook Capital Limited 4. Chow Tai Fook Capital LimitedChow Tai Fook (Holding) Limited 5. Chow Tai Fook (Holding) Limited 6. 7. 8. 9. NWS Service Management Limited 10. NWS Service Management Limited Vast Earn Group Limited NWS Service Management Limited 11. Vast Earn Group Limited NWS Service Management Limited Vast Earn Group Limited 336 44
13.1713.1813.21 (1) Kaden Construction Limited 11,000,000 1.39% 62,300,000 12,500,000 112,000,000 (2) 50,000,000 (i) 43%(ii) 13.1713.1813.21 13.51B(1) 13.51B(1) 1,778,2001,885,000 694 943 923 45
30 130 390 340 2,370,000 (a) (b) (c) (d) 46
14A.383000 740 14A.38 315,000 1,288 1,037 1,165 915 114 1089 14 509,000,000 330,000,000 47
48
51130 49
50
5 2,545,909 2,417,992 (2,305,488) (2,223,867) 240,421 194,125 7 44,211 34,301 8 9,107 20,864 (55,652) (56,057) (210,798) (181,923) (14,838) 9 (6,836) (6,243) 387,825 310,002 10 42,236 36,360 11 450,514 336,591 14 (1,495) (261) 449,019 336,330 440,205 326,692 8,814 9,638 449,019 336,330 16 55.50 41.19 55.39 41.19 51
449,019 336,330 2,542 886 (3,138) 108,801 76,765 111,343 74,513 560,362 410,843 550,249 400,769 10,113 10,074 560,362 410,843 52
17 124,541 135,104 146,734 18 71,110 65,095 65,996 19 29,838 29,838 29,838 21 4,991,653 4,497,169 4,245,484 22 12,312 24 25 52,390 52,295 53,400 26 8,733 12,830 16,767 5,278,265 4,792,331 4,570,531 27 12,458 11,223 5,227 28 325,487 253,679 164,779 29 936,275 749,287 539,981 30 11,384 10,427 7,218 30 321 321 321 30 66,601 27,922 30,108 1,482 570 388 31 61,717 61,416 45,443 32 30 10 21 32 341,129 174,945 209,880 1,756,884 1,289,800 1,003,366 28 643,952 291,988 242,529 33 692,938 612,189 523,797 34 12,159 11,052 9,947 34 1,142 1,142 1,825 34 69,849 27,377 12,876 34 3,359 3,359 3,357 1,073 2,039 2,767 25 35 224,407 218,996 183,033 1,648,879 1,168,142 980,156 108,005 121,658 23,210 5,386,270 4,913,989 4,593,741 53
36 5,750 5,750 5,750 21 17,432 17,795 18,235 37 6,041 6,713 7,172 4,067 5 35 15,000 13,750 44,223 30,258 48,979 5,342,047 4,883,731 4,544,762 38 79,312 79,312 79,312 5,125,333 4,669,208 4,340,613 5,204,645 4,748,520 4,419,925 39 137,402 135,211 124,837 5,342,047 4,883,731 4,544,762 51130 54
39 a) b) 39 79,312 731,906 730,726 (29,530) 2,319 (8,336) 2,913,528 4,419,925 124,837 4,544,762 326,692 326,692 9,638 336,330 74,077 74,077 436 74,513 74,077 326,692 400,769 10,074 410,843 79,312 731,906 804,803 (29,530) 2,319 (8,336) 3,240,220 4,820,694 134,911 4,955,605 300 300 15 (72,174) (72,174) (72,174) 79,312 731,906 804,803 (29,530) 2,319 (8,336) 3,168,046 4,748,520 135,211 4,883,731 440,205 440,205 8,814 449,019 110,044 110,044 1,299 111,343 110,044 440,205 550,249 10,113 560,362 79,312 731,906 914,847 (29,530) 2,319 (8,336) 3,608,251 5,298,769 145,324 5,444,093 4,900 4,900 1,483 1,483 (1,483) (432) (432) (11,339) (11,771) 15 (95,175) (95,175) (95,175) 79,312 731,906 914,847 (29,530) 2,319 (7,285) 3,513,076 5,204,645 137,402 5,342,047 (a) (b) 55
450,514 336,591 6,836 6,243 (387,825) (310,002) (276) (242) (187) (1,430) (1,439) (632) (785) (4,450) (16,371) (2,959) (2,936) (18,853) 2,160 (25,246) (297) (13,791) (18,489) (4,080) 1,342 1,264 57 40,647 34,651 5,500 64,844 10,671 (95) 1,105 (1,235) (5,996) (55,108) (79,352) (186,802) (211,465) 4,149 398 351,964 49,459 80,749 88,392 258,466 (146,788) (3,373) (1,171) 255,093 (147,959) 56
4,638 4,588 136,442 113,327 10(d) 36,706 1,318 16,767 41 12,325 (53,299) (35,539) (6,478) (11,771) (92,724) (40) 4,570 6,853 (770) (2,959) (38,679) 2,186 (20) 11 (56,773) 154,225 (6,401) (5,847) 15 (95,175) (72,174) 4,900 300 (683) 42,472 14,501 135,000 99,980 (114,589) (77,767) (30) 2 (33,793) (41,718) 164,527 (35,452) 174,945 209,880 1,657 517 341,129 174,945 341,129 174,945 57
1. 50 21 22 2. 7 10 11 12 10 11 12 13 1 19 27 28 20 1 58
2. 10 10 27 12 10 10 (a)(b) (c) 10 1050% 10 10 11 11 31 13 28 11 1111 31 31 59
2. 11 11 31 11 11 11 459,923 (442,553) (8,525) (774) (8,071) 60
2. 11 11 130,882 15,852 146,734 38,815 (26,503) 12,312 98,761 66,018 164,779 401,721 138,260 539,981 41,741 (41,420) 321 30,108 30,108 388 388 124,450 85,430 209,880 (65,549) (176,980) (242,529) (440,927) (82,870) (523,797) (6,418) 4,593 (1,825) (12,876) (12,876) 4,340,613 4,340,613 124,837 124,837 61
2. 11 11 113,430 21,674 135,104 26,156 (26,156) 138,152 115,527 253,679 652,182 97,105 749,287 82,573 (82,252) 321 27,922 27,922 570 570 75,185 99,760 174,945 (125,957) (166,031) (291,988) (580,414) (31,775) (612,189) (12,465) 11,323 (1,142) (27,377) (27,377) (178,706) (40,290) (218,996) 4,669,208 4,669,208 135,211 135,211 11 (52,188) 13,184 53,334 14,330 62
2. 12 12 12 21 22 50 13 1313 13 13 13 13 13 1313 13 24 43(c) 13 1 11 1 1(a) (b) 63
2. 3 2 9 9 5 7 10 1 12 27 9 5 14 4 19 2 32 1 36 1 39 1 1 21 1 2 3 4 5 9 3. 2 17 2 36 64
3. 65
3. (i)(ii) 39 12 19 2 5 66
3. 39 37 67
3. 68
3. 69
3. 70
3. 39 36 36 39 71
3. 72
3. 1118 73
3. 74
3. 75
3. 76
3. ) 77
3. 78
3. 79
3. 4. 3 11 23 80
4. 32,858,000 32,858,000 18(a) 29,838,000 29,838,00020 4,914,003,000 4,497,083,00021 535,572,000 538,210,000 36 81
4. 5. 2,193,098 2,142,042 335,843 256,476 16,968 19,474 2,545,909 2,417,992 82
6. 8 Chai-Na-Ta Corp.CNT CNT 83
6. 2,193,098 2,193,098 12,034 361,771 (25,928) 335,843 16,943 79,177 (62,209) 16,968 (8,290) 387,488 2,634,046 (88,137) 2,545,909 408,175 2,142,042 2,142,042 10,577 308,714 (52,238) 256,476 7,368 70,278 (50,804) 19,474 (8,953) 312,432 CNT (2,837) CNT 18,489 2,521,034 (103,042) 2,417,992 337,076 84
6. 408,175 337,076 9,514 9,359 2,065 6,163 (19,126) (22,695) (2,360) (3,196) (2) (33) 18,853 (2,160) 25,246 19 (1) 440,205 326,692 85
6. (15,224) (21,472) (3,382) (40,078) (569) (40,647) (5,500) (5,500) (5,500) 91 (71) 277 297 297 1,672 665 2,337 5,802 (5,614) 2,525 (4,324) (5,766) (10,090) (2,360) 5,614 (6,836) 643 (304) 387,488 387,827 (2) 387,825 (1,495) (1,495) (1,495) (10,059) (20,770) (3,267) (34,096) (555) (34,651) 12,929 843 13,772 19 13,791 1,657 809 2,466 5,859 (5,859) 2,466 (2,751) (6,155) (8,906) (3,196) 5,859 (6,243) 440 312,432 (2,837) 310,035 (33) 310,002 (1,822) 1,562 (260) (1) (261) 86
6. 2,518,010 2,394,769 5,094,059 4,678,409 27,899 18,939 44,419 46,783 4,284 1,074 2,014 77,590 2,545,909 2,417,992 5,217,142 4,727,206 10% 1,062,937 1,051,608 1 247,096 711,608 1 1,774,545 1,298,704 1 10% 87
7. 276 242 187 1,430 1,439 632 785 2,169 16,919 22,459 2,451 206 3,000 3,000 60 174 2,370 8. 4,450 16,371 1,698 1,557 2,959 2,936 9,107 20,864 9. 6,401 5,847 435 396 6,836 6,243 88
10. a 18,853 b (2,160) c 25,246 297 13,791 d 18,489 41 4,080 42,236 36,360 (a) (b) (c) (d) 2,155,000 15,134,000 0.29%18,853,000 648,000 0.04%6.792,160,000 7,404,0000.39% 25,246,000 CNT CNT36,706,000CNT18,489,000 89
11. 2,572 2,421 1,342 1,264 57 57,347 44,192 7 57,347 44,199 (16,700) (9,548) 40,647 34,651 14,838 330 177 93,092 58,010 (93,092) (58,010) 5,500 48,060 45,820 (2,178) (3,943) 45,882 41,877 578,715 559,441 12 17,171 15,236 476,017 300,605 603,000 438,000 16,005 14,009 509,193 329,850 (364,829) (196,515) 144,364 133,335 90
12. 343 440 35 818 1,876 9,876 616 12,368 1,775 235 175 2,185 3,994 10,551 826 15,371 199 199 a 50 50 b 367 367 c 149 149 765 765 337 337 349 349 349 349 1,035 1,035 1,800 3,994 10,551 826 17,171 (a) (b) (c) 168,000 51.17% 51.17% 91
12. 327 327 33 687 1,799 8,406 545 10,750 1,677 254 165 2,096 3,803 8,987 743 13,533 189 189 340 340 189 189 718 718 321 321 332 332 332 332 985 985 1,703 3,803 8,987 743 15,236 151,000 92
13. 12 8,956 5,800 643 507 9,599 6,307 1,500,0012,000,000 2 2,000,0012,500,000 3 1 2,500,0013,000,000 1 14. 1,484 900 (6) 923 17 (1,562) 11 (639) 1,495 261 16.5% 25% 93
14. 450,514 336,591 16.5% 16.5% 74,335 55,538 13,914 6,821 (17,053) (10,666) 11 (639) 10,134 10,925 (10,310) (11,325) (63,991) (51,150) 622 (114) (6,167) 871 1,495 261 15. 7.7 5.6 61,070 44,415 4.3 3.5 34,105 27,759 95,175 72,174 10.2 7.780,899,000 61,070,000 94
16. 440,205 326,692 (854) 439,351 326,692 793,124,034 793,124,034 95
17. 13,611 20,918 8,533 159,639 31,288 39,608 100,991 374,588 1 11 27 39 3,614 1,444 25,938 620 1,149 2,774 35,539 (17,225) 1,735 15,490 (2,554) (717) (655) (49,068) (52,994) 20,918 9,977 184,759 31,202 40,129 70,187 357,172 23 11 34 275 37,132 8,097 3,553 4,242 53,299 (15,764) (2,522) (15,347) (2,176) (888) (1,507) (38,204) 5,154 7,730 206,544 37,146 42,805 72,922 372,301 19,479 4,951 83,085 26,352 13,096 80,891 227,854 6 27 33 196 1,601 29,633 1,889 6,092 4,788 44,199 (2,202) (532) (552) (46,732) (50,018) 19,675 6,552 110,516 27,715 18,663 38,947 222,068 18 10 28 196 2,279 36,607 3,316 5,945 9,004 57,347 5,500 5,500 (15,764) (2,484) (14,757) (1,828) (844) (1,506) (37,183) 4,107 6,347 137,866 29,221 23,774 46,445 247,760 1,047 1,383 68,678 7,925 19,031 26,477 124,541 1,243 3,425 74,243 3,487 21,466 31,240 135,104 96
17. 33 1 /3% 20% 25% 16 2 /3% 25% 10% 15% 6 49 13,906,000 18,499,000 3 10% 5,500,00095% 97
18. a b 32,858 35,013 67,871 383 383 32,858 35,396 68,254 965 965 6,478 6,478 32,858 42,839 75,697 1,875 1,875 20 20 1,264 1,264 3,159 3,159 86 86 1,342 1,342 4,587 4,587 32,858 38,252 71,110 32,858 32,237 65,095 (a) Kaden Construction Limited 98
18. (a) 20 (b) 25 30 30 19. 20. 18(a) 99
20. 5 10% 10%) 21. a 1,559,011 1,543,877 77,634 44 1,636,645 1,543,921 3,337,576 2,935,453 4,974,221 4,479,374 4,991,653 4,497,169 b (17,432) (17,795) 4,974,221 4,479,374 2,118,205 1,918,059 (a) (b) 30,964,000 30,964,000 100
21. % % 40 40 Grand China Cayman Investors III, Limited 34.60 a 17.65 b 17.65 b c 38.83 38.19 (a) 10,000,000 77,590,000 Grand China Cayman Investors III, Limited 34.6% (b) (c) 4,914,003,000 4,497,083,000 2,118,205,000 1,918,059,000 10% 10 101
21. 37,303,877 30,574,895 6,125,586 6,700,446 (21,555,269) (16,322,548) (8,510,942) (8,729,920) 5,336,386 3,755,365 (6,164,441) (3,692,616) (7,927,650) (8,088,286) 102
21. 11,456,048 9,344,130 1,023,367 852,734 290,954 206,023 1,314,321 1,058,757 136,442 113,327 72,407 50,141 (11,536) (10,174) (257,128) (224,551) (1,497,395) (1,465,003) 12,671,769 11,793,131 4,920,448 4,503,325 30,964 30,964 (37,409) (37,206) 4,914,003 4,497,083 103
21. 337 (2,430) 617 337 (1,813) 22. % Hip Hing-Leader JV Limited 17.04 104
22. Hip Hing-Leader JV Limited (3,429) (3,429) (3,429) (3,429) 17.04% 17.04% 105
23. % % ACC-Leader Joint Venture 25.59 25.59 China State-Leader Joint Venture 25.07 Chun Wo-Leader Joint Venture 26.10 26.10 Gammon-Kaden SCL 1111 Joint Venture 15.35 15.35 Kaden-Chun Wo Joint Venture 26.10 Kaden-VSL Joint Venture 28.14 28.14 Kier-Kaden-OSSA Joint Venture 17.91 17.91 Kier-Laing O Rourke-Kaden Joint Venture 7.68 7.68 McDow-Kaden Joint Venture 25.59 25.59 Sembawang-Leader Joint Venture 23.03 23.03 106
24. 3,368 3,368 (3,368) (3,368) 25. 18(b) 30 2.61% 2.61% 30 107
26. 8,733,000 12,830,000 4,097,000 3,938,000 29 27. 3,803 1,528 1,978 6,117 4,212 2,896 2,465 682 12,458 11,223 238,193,000 208,815,000 28. 9,379,923 7,263,097 (9,698,388) (7,301,406) (318,465) (38,309) 325,487 253,679 (643,952) (291,988) (318,465) (38,309) 108
29. 590,134 475,016 (623) (623) 589,511 474,393 195,401 141,420 66,153 33,015 81,113 96,521 26 4,097 3,938 936,275 749,287 8,391,000 4,095,000 580,599 468,595 8,404 5,655 508 143 589,511 474,393 109,220 58,569 86,181 82,851 195,401 141,420 109
29. 98% 99% 1,495,000 2,000,000 67,000 8,912,000 5,798,000 8,404 5,655 508 143 8,912 5,798 623,000 623,000 623 623 110
30. 31. 29,078 28,290 32,639 33,126 61,717 61,416 22,260,000 20,310,000 32. 30,000 10,000 0.01% 0.01% 0.00% 0.35% 0.00% 0.50% 7,974,000 3,360,000 3,000 3,000 111
33. 128,615 111,110 21,556 5,950 13,806 6,964 163,977 124,024 133,432 124,134 317,085 295,449 78,444 68,582 692,938 612,189 70,148 46,546 63,284 77,588 133,432 124,134 6,865,000 3,695,000 34. 112
35. 128,580 139,318 15,000 143,580 139,318 37,218 53,851 15,484 15,718 43,125 10,109 95,827 79,678 239,407 218,996 (224,407) (218,996) 15,000 89,910 78,069 149,497 140,927 239,407 218,996 2.22% 3.39% 2.26% 3.59% 113
36. 4,298 1,584 1,584 533,988 532,328 535,572 538,210 37. 5.4% 5.4% 38. 0.10 1,000,000 1,000,000 100,000 100,000 793,124 793,124 79,312 79,312 114
39. 730,726 124,837 9,638 450 436 (3,138) 76,765 300 804,803 135,211 8,814 1,243 1,299 108,801 4,900 (1,483) (11,339) 914,847 137,402 40. (a) (b) 115
40. (c) 79,312,40310% (d) 1% (e) (f) (g) 1 (h) (i) (ii) (iii) (i) 116
41. 10,000,000 12,325,000 100% 51% 6,134,000 12,312 (4,067) 8,245 4,080 12,325 42. 35 117
43. (a) 61,717 61,416 1,335,167 931,516 1,396,884 992,932 986,565 851,896 (b) (i) 118
43. (b) (i) 16,365 7,455 6,865 3,695 3 3 (ii) 35 100 100 100 100 1,999,000 1,829,000 119
43. (b) (iii) 10% 10% 5,153,000 5,128,000 120
43. (b) 260,630,000 196,833,000 27,275,000 25,114,000 % 654,760 1,189 21,883 36,028 41,626 755,486 747,158 3.11 214,625 5,190 5,309 15,231 240,355 239,407 869,385 6,379 27,192 51,259 41,626 995,841 986,565 % 525,656 21,982 960 60,041 33,022 641,661 632,900 3.08 205,315 13,931 219,246 218,996 730,971 35,913 960 60,041 33,022 860,907 851,896 121
43. (b) 95,827,000 79,678,000 5,426 5,400 29,064 61,416 101,306 95,827 5,065 20,039 30,386 25,797 629 81,916 79,678 (c) 122
44. 18,165 756 18,921 45. 2,123 168 3,000 3,000 191 128 625 3,625 2,314 296 3,625 6,625 49,137 44,800 11,697 47,506 60,834 92,306 123
46. 248,288 242,799 47. 16,831,000 14,752,000 124
48. 187 60 174 8 1,380 2,000 2,370 29 30 34 37 12,500,000 12,500,000 39,341 30,899 2,373 1,968 41,714 32,867 49. 7,800,000 60,840,000 Elite International Limited I LP Elite 30%EliteElite 3,600,000 27,938,000 125
50. * % % 6,000 4,000 c 51.17 b 51.17 b a 124,187,799 51.17 51.17 20,000,000 51.17 b 26.10 b 10,000,000 94.05 d 94.05 d 2 100 100 Kaden Construction Limited 16,072,500 51.17 b 51.17 b 25,200,000 24,000,000 51.17 b 51.17 b 51.17 b 51.17 b 200,000 51.17 b 51.17 b Leader Marine Cont. L.L.C. 300,000 51.17 b 51.17 b 126
50. * % % 105,000,000 94.05 94.05 2 1,200,000 100 100 100 100 10,000,000 51.17 b 51.17 b 2 100 100 25,000,002 14,800,000 5,200,000 e 51.17 b 51.17 b 51.17 b 51.17 b Wai Kee (Zens) Holding Limited 50,000 100 100 f 5,400,000* 48.92 b 48.92 b f 47,000,000* 80 80 g 800,000* 51.17 b 51.17 b 127
50. (a) (b) (c) (d) (e) (f) (g) Wai Kee (Zens) Holding Limited 1,532,696 1,112,431 230,365 212,293 (1,431,067) (1,002,427) (28,943) (30,258) 303,051 292,039 299,812 276,434 3,239 15,605 303,051 292,039 128
50. 2,193,098 2,142,042 (2,172,884) (2,121,918) 20,214 20,124 21,330 20,669 (1,116) (545) 20,214 20,124 2,480 825 89 33 2,569 858 23,810 21,494 (1,027) (512) 22,783 20,982 222,965 (116,723) (56,681) 23,047 (23,988) 71,554 142,296 (22,122) 129
51. 123,915 123,915 2,264,763 2,011,481 25,251 3,231 (893,300) (869,241) (395) (147) (105,000) (40,000) 1,415,234 1,229,239 38 79,312 79,312 1,335,922 1,149,927 1,415,234 1,229,239 79,312 731,906 93,995 270,104 1,175,317 126,096 126,096 79,312 731,906 93,995 396,200 1,301,413 (72,174) (72,174) 79,312 731,906 93,995 324,026 1,229,239 281,170 281,170 79,312 731,906 93,995 605,196 1,510,409 (95,175) (95,175) 79,312 731,906 93,995 510,021 1,415,234 130
1,037,619 926,698 1,825,558 2,417,992 2,545,909 19,765 1,057,384 926,698 1,825,558 2,417,992 2,545,909 71,443 (31,717) 14,249 26,589 62,689 280,586 224,231 292,050 310,002 387,825 (610) 351,419 192,514 306,299 336,591 450,514 (4,499) (322) (5,074) (261) (1,495) 346,920 192,192 301,225 336,330 449,019 315,821 188,800 290,735 326,692 440,205 31,099 3,392 10,490 9,638 8,814 346,920 192,192 301,225 336,330 449,019 4,539,120 4,864,419 5,573,897 6,082,131 7,035,149 (550,634) (712,017) (1,029,135) (1,198,400) (1,693,102) 3,988,486 4,152,402 4,544,762 4,883,731 5,342,047 3,920,668 4,049,072 4,419,925 4,748,520 5,204,645 67,818 103,330 124,837 135,211 137,402 3,988,486 4,152,402 4,544,762 4,883,731 5,342,047 2 11 131
Conyers Dill & Pearman Clarendon House 2 Church Street Hamilton HM 11 Bermuda 98 11 1103 MUFG Fund Services (Bermuda) Limited 26 Burnaby Street Hamilton HM 11 Bermuda 28 26 18322 610 www.waikee.com 132