LT10coverHI

目錄 2 3 4 6 8 12 16 26 33 35 37 38 39 40 41 42 124 1

公司資料 Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands 57 5 http://www.luenthai.com HSBC Trustee (Cayman) Limited P.O. Box 484 HSBC House, 68, West Bay Road, Grand Cayman, KY1-1106, Cayman Islands 183 17 1712 1716 22 18 5 2

業務簡介 adidas Coach Dillard s Esprit Fast Retailing Limited Brands Polo Ralph Lauren Targus 74,000,000 (design-to-store) D2S D2S D2S 794,000,000 27,000 3

主要財務摘要 794,017 774,892 134,335 143,020 16.9% 18.5% 17,662 19,418 2.2% 2.5% 18,052 15,220 2.3% 2.0% 1.8 1.5 0.319 0.236 0.227 0.224 276,721 234,355 4

主要財務摘要 2010 2009 774,892 794,017 450,000 500,000 550,000 600,000 650,000 700,000 750,000 800,000 2010 18,052,000 2010 1.8 2009 15,220,000 2009 1.5 6,000,000 10,000,000 14,000,000 18,000,000 0.6 0.8 1.0 1.2 1.4 1.6 1.8 3.8% 7.2% 7.6% 9.2% 8.0% 2009 50.5% 4.8% 2010 52.0% 30.5% 26.4% 5

主席報告書 2.5% 794,017,000 18,052,000 18.6% 6

主席報告書 0.319 2.488 7

管理層討論及分析 794,017,000 2.5% 134,335,000 6.1% 16.9% 18.5% 127,035,000 113,959,000 10.3% On Time International Limited60% 18,052,000 15,220,000 81.6% 1,328,000 316,000 8

管理層討論及分析 52.0% 3.0 26.4% 13.4 12.4% 5.1 Fortune Investment Overseas LimitedTrinew Limited 60% Ospella International Limited Trinew Limited 40% Trinew Limited 9

管理層討論及分析 21 20 www.luenthai.com 81,907,000 25,643,000 64,252,000 67,016,000 2,764,000 40,054,0005,432,000 14,241,000 4,525,000 10

管理層討論及分析 27,000 (go green) 11

行政管理人員 80 57 26 49 21 DHL/SCMP Owner-Operator 58 20 Pentland Group plc INSEAD Euro-Asia Centre 37 University of Wisconsin-Madison 12

行政管理人員 55 Luen Thai Enterprises Limited Tan Holdings Corporation 28 Philippine-China Business Council Honorary Ambassador-at-Large 57 TSE 33 4523 Carleton University 67 Nam Tai Electronics, Inc. 37 13

行政管理人員 63 36 58 62 36 25 DILCOCK, Victoria Anne Theresa 56 YTI Yuen Thai Philippines Incorporated Dilcock 38 Sara Lee Courtaulds Claremont Garments Ltd. Brentwood Clothing Ltd. (Stirling Group) Eriksson s Management Consultancy HELFENBEIN Richard A. 62Helfenbein Crystal Brands Inc. Izod/Lacoste Youthwear Burlington Industries, Inc. HelfenbeinBlythedale Children s Hospital Greyston FoundationAmerican Apparel and Footwear Association University of Arkansas Apparel Studies Advisory Board Greyston Foundation Wisdom Council Helfenbein Wharton Business School COER (Consortium for Operational Excellence in Retailing) ROMAGNA John65Romagna 30 Macau Telephone GTE Adventis Romagna 14

行政管理人員 52 Verte Company Polo Ralph-Lauren Levi s Sauceda Texas Southmost CollegeMexican Chamber of Commerce Hong Kong 49 21 Northern Marianas College Foundation Mariana Visitor s Authority (EAFF) Northern Marianas Badminton Association2003 (2004 Employer of the Year) Guam Business Executive of the Year (Rotary Club of Saipan) Rotary Citizen of the Year Award 54 30OCAD University 47 18 15

董事會報告 38 8 11 0.227 2,253,000 0.319 3,167,000 9 11 17 18 193,033,000 4,451,000 117,018,000 71,564,000 124 11,205,000 7 20 119,000 16

董事會報告 a) b) (i) (ii) (iii) 10 21 (i) (ii) (iii) 17

董事會報告 4 2.52 200,000 200,000 1.28 250,000 250,000 450,000 450,000 4 2.52 150,000 150,000 1.28 150,000 150,000 300,000 300,000 6 2.52 500,000 500,000 1.28 700,000 700,000 0.71 2,000,000 2,000,000 3,200,000 3,200,000 4 2.52 300,000 300,000 1.28 400,000 400,000 700,000 700,000 5 2.52 300,000 300,000 300,000 300,000 2.52 4,655,000 158,500 4,496,500 1.28 5,089,000 151,000 4,938,000 0.71 10,600,000 134,000 166,000 10,300,000 20,344,000 443,500 166,000 19,734,500 2.52 6,105,000 158,500 5,946,500 1.28 6,589,000 151,000 6,438,000 0.71 12,600,000 134,000 166,000 12,300,000 25,294,000 443,500 166,000 24,684,500 1. 10 2. 3. 66,000 100,000 4. 5. 4 6. 18

董事會報告 i ii iii iv v 0.78 2.50 2.52 37% 4% 3 5 2.1% 0.46 1.28 1.28 43% 3.8 3.9% 3 5 1.7% 0.24 0.71 0.71 44.79% 1.26 2.99% 2.8 4.9 1.89% i. ii. iii. iv. v. 19

董事會報告 67,500 277,808 202,096 67,000 120,000 240,000 120,000 150,000 120,000 120,000 XV 352 20

董事會報告 1 5,743,000 0.58% 1 10,000,000 1.01% 1 5,743,000 0.58% 3 4 450,000 0.05% 2 675,950,000 68.09% 1 5,743,000 0.58% 3 4 6 1,550,000 0.15% 3 4 5 3,200,000 0.32% 1 5,743,000 0.58% 3 4 7 1,022,000 0.10% 1 5,743,000 0.58% 3 300,000 0.03% 1. Tan Family Trust of 2004 Tan Family Trust of 2004 XVTan Holdings Corporation Tan Holdings Corporation Tan Holdings Corporation Wincare International Company Limited Wincare International Company Limited 5,743,000 0.58% Tan Siu Lin Foundation Limited Tan Siu Lin Foundation Limited Tan Siu Lin Foundation Limited 10,000,000 1.01% Tan Family Trust of 2004 XV Wincare International Company Limited 2. Helmsley Enterprises Limited Helmsley 3,500 70% Helmsley Hanium Industries Limited Hanium Industries Limited 631,350,000 63.60% Tan Holdings Corporation 5,543,668 35% Tan Holdings Corporation Union Bright Limited Union Bright Limited43,650,000 4.40% Double Joy Investment Limited Double Joy Investment Limited 950,000 0.09% 3. 4. 5. 6. 1,250,000 XV 1,250,000 7. 322,000 21

董事會報告 (i) Fortune Investment Overseas Limited Fortune Investment On Time International Limited On Time 40% On Time60% Fortune Investment Fortune Investment On Time 40% Fortune Investment On Time 40% (ii) Fortune Investment Ospella International Limited Luen Thai Overseas Limited Trinew TrinewFortune Investment Trinew Limited 60% Trinew Limited Ospella International Limited Trinew Limited 40% 7,315,000 Ospella International Limited Trinew Limited Trinew Trinew Limited 40% (iii) Partner Joy Group Limited Kardon International Worldwide Limited Kardon Linktop Enterprises Limited Linktop 2,543,000 Kardon Linktop Tan Private GroupHelmsley Tan Holdings Corporation Helmsley Tan Holdings Corporation Tan Private Group Tan Private Group Tan Private Group14A 14A 22

董事會報告 14A Tan Private Group 173 142 a 2,105 2,192 b 1,458 1,225 Tan Private Group 66 116 c 254 289 d 623 769 19 103 e 6,423 7,324 e 2,534 2,819 (a) Luen Thai Overseas Limited Tan Private Group Tan Private Group (b) Luen Thai Overseas Limited Tan Private Group Tan Private Group (c) Tan Private GroupTan Private Group (d) Tan Private Group Tan Private Group (e) A. M. International Manufacturing Company Limited AMI AMI AMIAMI (a)(b) (c) (d) 23

董事會報告 3000 740 14A.38 23 (i) (ii) 336 (a) 614,250,000 61.88% Helmsley (a) 631,350,000 63.60% Pou Chen Corporation 89,100,000 8.98% Wealthplus Holdings Limited 89,100,000 8.98% 89,100,000 8.98% Pou Hing Industrial Co. Ltd. 89,100,000 8.98% Great Pacific Investments Limited 89,100,000 8.98% (a) Helmsley Helmsley 24

董事會報告 XV 2 3 10% 53% 60% 20.5% 48.7% 15% 21% 7.5% 19% 5% 26 32 25

企業管治報告 97.5% 100% 4/4 100% * 4/4 100% * 4/4 100% 4/4 100% * 4/4 100% 88% * 3/4 75% 4/4 100% 100% 4/4 100% 4/4 100% 4/4 100% * 26

企業管治報告 27

企業管治報告 (i) (ii) (iii) (iv) 120,000 120,000 28

企業管治報告 http://www.luenthai.com 2/2 2/2 2/2 1/2 2,379,0002,184,000 29

企業管治報告 (i) (ii) (iii) 30

企業管治報告 3/3 3/3 3/3 801,000351,000 174,00012,000 992,666,000 0.01 1 2 614,250,000 61.88% Union Bright Limited1 3 43,650,000 4.40% Hanium Industries Limited1 4 17,100,000 1.72% 1 5 6 7 8 17,315,000 1.74% 692,315,000 69.74% 89,100,000 8.98% 211,251,000 21.28% 992,666,000 100.00% 31

企業管治報告 1. 2. HelmsleyHelmsley Tan Family Trust of 2004 3. Union Bright Limited Tan Holdings CorporationTan Holdings Corporation Tan Family Trust 4. Hanium Industries Limited HelmsleyHelmsley Tan Family Trust 5. Tan Family Trust of 2004 Wincare International Company Limited5,743,000 6. 10,000,000 7. 1,250,000 XV 8. 322,000 0.82 814,000,000 1.26 0.69 32

獨立核數師報告 35 123 33

獨立核數師報告 34

合併資產負債表 6 8,788 8,868 10,644 7 105,479 104,970 117,679 8 65,068 67,002 68,870 10 494 372 377 11 10,246 9,813 9,531 12 630 991 230 14 22,986 3,827 4,346 4,955 217,518 196,362 212,286 13 79,230 62,341 76,208 14 20,758 15 115,243 110,001 108,351 37 2,339 2,702 4,143 37 4,395 5,192 1,584 25,028 18,423 19,876 1,000 370 16 1,723 1,564 1,509 16 81,907 107,550 117,839 310,865 328,901 329,510 528,383 525,263 541,796 17 9,927 9,925 9,925 18 133,911 102,110 101,340 3,167 2,343 1,439 129,716 119,977 108,858 276,721 234,355 221,562 10,839 21,821 24,898 287,560 256,176 246,460 35

合併資產負債表 19 3,063 37 3,097 3,097 20 5,687 2,841 2,431 12 6,557 6,781 5,075 21 31,259 33,959 15,307 43,978 44,562 22 60,687 50,242 66,196 23 90,810 87,364 81,039 37 1,852 1,309 817 37 1,308 4,340 3,953 19 61,189 67,016 83,540 24 727 22 2,199 8,943 14,816 13,030 225,516 225,109 250,774 240,823 269,087 295,336 528,383 525,263 541,796 85,349 103,792 78,736 302,867 300,154 291,022 42123 36

資產負債表 9 201,326 201,326 16 476 429 9 3,500 3,000 3,976 3,429 205,302 204,755 17 9,927 9,925 18 190,369 190,292 3,167 2,343 1,284 1,796 204,747 204,356 405 399 9 150 555 399 205,302 204,755 3,421 3,030 204,747 204,356 42123 37

合併利潤表 5 794,017 774,892 26 (659,682) (631,872) 134,335 143,020 25 (2,714) 3,433 26 (15,885) (13,670) 26 (98,074) (113,365) 17,662 19,418 28 6,787 4,982 28 (1,488) (3,225) 28 5,299 1,757 (8) (15) 402 371 23,355 21,531 29 (4,092) (2,524) 19,263 19,007 18,052 15,220 1,211 3,787 19,263 19,007 31 1.8 1.5 1.8 1.5 32 5,420 4,566 42123 38

合併綜合收益表 19,263 19,007 1,948 (280) 21,211 18,727 19,942 14,848 1,269 3,879 21,211 18,727 42123 39

合併權益變動表 9,925 116,998 (15,658) 110,297 221,562 24,898 246,460 15,220 15,220 3,787 19,007 (372) (372) 92 (280) (372) 15,220 14,848 3,879 18,727 8(i) (756) (756) 8(i) 18(iii) 939 465 1,404 1,404 (3,662) (3,662) (3,662) (6,200) (6,200) 203 203 203 1,142 (3,197) (2,055) (6,956) (9,011) 9,925 116,998 (14,888) 122,320 234,355 21,821 256,176 9,925 116,998 (14,888) 122,320 234,355 21,821 256,176 18,052 18,052 1,211 19,263 1,890 1,890 58 1,948 1,890 18,052 19,942 1,269 21,211 21 20,383 (2,893) 17,490 17,490 21 36 9,451 9,451 (9,451) 2 20 (6) 16 16 (4,596) (4,596) (2,800) (7,396) 63 63 63 2 20 29,891 (7,489) 22,424 (12,251) 10,173 9,927 117,018 16,893 132,883 276,721 10,839 287,560 42123 40

合併現金流量表 33 20,778 29,000 (1,488) (2,046) (11,248) (2,713) 8,042 24,241 (11,205) (9,340) 12,560 (8,969) (159) (55) 903 1,397 34 (2,178) 977 36 (7,315) (421) (1,592) (146) (56) (26) 333 940 519 609 (6,744) (16,480) 1,298 7,761 1,608 (4,157) 8,861 (10,123) (8,233) (3,097) (4,596) (3,662) (2,800) (6,200) 16 (10,131) (22,252) (8,833) (14,491) 91,365 106,489 (1,140) (633) 16 81,392 91,365 42123 41

1 57 5 2 2.1 4 42

2 2.1 2.1.1 (a) 3 27 28 31 3 34 27 36 17 17 43

2 2.1 2.1.1 (a) 5 1 1 69(d) 5 5 21,134 27,071 33,259 (21,134) (27,071) (33,259) 44

2 2.1 2.1.1 (b) 9 39 9 16 39 17 5 18 45

2 2.1 2.1.1 (b) 1 12 36 8 5 39 2 8 211 2 11 46

2 2.1 2.1.1 (b) 5 5 1 1 15 125 5 (c) 9 39 9 99 12 47

2 2.1 2.1.1 (c) 24 24 24 32 8 14 14 19 14 48

2 2.1 2.1.1 (c) 19 2.2 (a) 49

2 2.2 (a) 2.7 (b) 27 (c) 20% 50% 50

2 2.2 (d) (e) 2.3 51

2 2.4 (a) (b) (c) (i) (ii) (iii) 52

2 2.5 20 5 15 5 10 3 5 3 5 2.9 2.6 2.5 53

2 2.7 (a) (b) 3 15 2.8 10 50 2.9 54

2 2.10 2.10.1 (a) 12 (b) 2.152.16) 2.10.2 55

2 2.11 (i) (ii) 56

2 2.12 2.13 2.14 17 2 2.15 2.16 57

2 2.17 2.18 2.19 (i) (ii) 58

2 2.20 2.21 59

2 2.21 2.22 (a) 60

2 2.22 (b) (c) 2.23 61

2 2.23 2.24 2.25 62

2 2.26 (i) (ii) (iii) (iv) (v) 2.27 2.28 63

3 3.1 (a) (1) 4% 6% 607,000 913,000 3% 4% 354,000 100,000 8% 10% 197,000 170,000 64

3 3.1 (a) (2) 1% 1% 556,0001,067,000 (b) 65

3 3.1 (b) 53% 60% (c) 19 16. 66

3 3.1 (c) 513 513 28,862 28,862 34,277 95 208 685 2,769 38,034 150,233 150,233 1,852 1,852 1,308 1,308 727 727 1,264 1,264 7,741 7,741 71,393 155,479 208 685 2,769 230,534 68,748 68,748 405 405 150 150 68,748 555 69,303 67

3 3.1 (c) 3,623 3,623 35,383 35,383 31,056 31,056 3,141 3,141 135,945 135,945 1,309 1,309 4,340 4,340 22 22 1,661 33,885 35,546 2,187 2,187 72,249 143,277 3,141 33,885 252,552 63,568 63,568 399 399 63,568 399 63,967 68

3 3.1 (c) 6,139 5,402 15,031 2,290 28,862 6,377 7,036 14,857 7,113 35,383 3.2 3.3 69

4 (a) (b) (c) 29 (i) (ii) (iii) (iv) (v) 70

4 (d) 2.0% 2.0% 2.0% 12.4% 18.4% 15.1% 14.6% 14.6% 14.6% 71

4 (e) (f) (g) (h) 17 72

5 589,940 170,896 122,375 131,836 15,295 1,030,342 (219,664) (745) (15,130) (786) (236,325) 370,276 170,151 107,245 131,836 14,509 794,017 13,783 3,989 3,313 1,328 316 (1,590) 21,139 (10,753) (2,387) (1,092) (3,810) (1,020) (967) (20,029) (8) (8) 402 402 (1,549) (904) (1,006) (460) (173) (4,092) 73

5 350,696 197,730 128,888 108,606 13,621 799,541 (8,159) (726) (14,050) (1,096) (618) (24,649) 342,537 197,004 114,838 107,510 13,003 774,892 15,824 14,550 4,319 (7,394) 1,575 (2,134) 26,740 (11,721) (2,520) (927) (3,947) (873) (236) (20,224) (15) (15) 506 (135) 371 (1,072) 828 (1,012) (1,752) 484 (2,524) 21,139 26,740 (8,330) (7,575) (3,646) 6,454 4,042 (1,179) 25 625 19,263 19,007 74

5 771,405 755,495 14,509 13,003 158 121 291 77 394 215 219 100 643 769 4,621 3,884 1,777 1,228 794,017 774,892 412,857 390,965 209,708 236,258 38,532 61,907 60,125 29,654 72,795 56,108 794,017 774,892 108,500,000 162,600,000 122,500,000 147,500,000 75

6 10 50 8,788 8,868 8,868 10,644 26 (206) (229) (1,555) 126 8 8,788 8,868 (a) 1,166,000 1,184,000 (b) 3,915,0004,015,000 19 7 74,256 23,053 74,874 44,279 4,671 2,914 224,047 (13,745) (14,129) (43,458) (31,697) (3,339) (106,368) 60,511 8,924 31,416 12,582 1,332 2,914 117,679 60,511 8,924 31,416 12,582 1,332 2,914 117,679 34 81 309 390 911 2,852 634 1,300 837 2,806 9,340 (102) (897) (298) (73) (1,370) (80) (3,519) (47) (3,646) 3,967 688 (2,738) 561 18 (2,496) (4,057) (2,797) (6,257) (3,942) (651) (17,704) (146) (53) 669 (221) 32 281 61,186 9,513 19,308 10,244 1,495 3,224 104,970 80,628 27,397 60,776 44,871 4,906 3,224 221,802 (19,442) (17,884) (41,468) (34,627) (3,411) (116,832) 61,186 9,513 19,308 10,244 1,495 3,224 104,970 76

7 61,186 9,513 19,308 10,244 1,495 3,224 104,970 34 2,500 2,220 31 19 4,770 138 823 2,734 924 427 6,159 11,205 (44) (814) (65) (11) (3) (937) 299 6,992 985 594 (8,870) (4,756) (2,541) (5,639) (3,963) (633) (17,532) 1,556 179 1,239 8 18 3 3,003 60,923 14,922 20,033 7,773 1,315 513 105,479 86,496 35,719 68,678 44,645 5,172 513 241,223 (25,573) (20,797) (48,645) (36,872) (3,857) (135,744) 60,923 14,922 20,033 7,773 1,315 513 105,479 (a) 7,250,0007,966,000 10,282,000 9,738,000 (b) 7,740,000 8,281,000 (c) 3,805,0004,037,000 19 (d) 77

8 46,087 30,128 76,215 (1,585) (5,760) (7,345) 44,502 24,368 68,870 44,502 24,368 68,870 i 423 423 34 119 119 26 (2,291) (2,291) (119) (119) 44,925 22,077 67,002 46,510 30,128 76,638 (1,585) (8,051) (9,636) 44,925 22,077 67,002 44,925 22,077 67,002 34 357 357 26 (2,291) (2,291) 45,282 19,786 65,068 46,867 30,128 76,995 (1,585) (10,342) (11,927) 45,282 19,786 65,068 (i) Partner Joy Limited 1,404,000 Partner Joy Limited 5% 423,000 (ii) 2,291,0002,291,000 78

8 16,253 15,896 2,380 2,380 26,649 26,649 45,282 44,925 (a) 12.9% 18.9% 15.6% (b) 3.0% 3.0% 3.0% (c) 13.6% 13.6% 13.6% (a) 13.6% 19.5% 17.1% (b) 3.0% 3.0% 3.0% (c) 14.0% 14.0% 14.5% 79

8 (a) (b) (c) 9 71,564 71,564 129,762 129,762 201,326 201,326 80

9 10,000 1 60% Consolidated 1,000,000 100% Transportation 1 Services, Inc. Consolidated Transportation Services (FSM), Inc 100,000 1 90% Consolidated Transportation Services, Incorporated (Guam) 400,000 1 100% Consolidated Transportation Services, Inc. (Palau) 100,000 1 80% CTSI Holdings Limited 11 100% CTSI Logistics, Inc. 10,000 100,000 100% CTSI Logistics Inc. 100 380,000 100% 60,000 5,000 60% 81

9 100,000 10 100% 100,000 100% 100 23,206,000 1 100% 100 1 100% 264,850,000 264,850,000 100% 8,000,000 100% 20,000,000 100% 54,000,000 100% Fortune Investment Overseas Limited 11 100% 2 1 100% 2 100 100% 82

9 120,500,000 106,146,661 100% GJM (UK) Limited 11 100% Glory Silk International Limited 1,000 1 95% 1,000 1 95% Golden Dragon Apparel, Inc. 62,000 100 100% 7,200,000 7,200,000 100% 1,000,000 100% Kingsmere, Inc. 100 310,000 100% L & T International Group Phils., Inc. 20,000 100 100% 10,100,000 70% 2 1 100% 25,000 100% Luen Thai Overseas Limited 16,685,804 1 100% 83

9 53,500,000 53,500,000 100% 10,000 1 60% On Time International Limited 500 1 60% Philippine Luen Thai Holdings Corporation 260,000 100 100% Partner Joy Group Limited 1,000 1 95% Power Might Limited 12,207,164 1 100% Pt. Buena Intisari Garment 500 1,000 90.2% Pt. Cedrateks Indah Busana 1,000 1,000 92.6% Pt. Eka Sandang Duta Prima 500 1,000 90.2% 136,000,000 61,105,400 100% 2 1 100% Sunny Force Limited 11 100% Tellas Ltd. 100 100,000 100% 1,000 1 95% 84

9 1,000,000 1 95% 1,000,000 1 95% 1,000,000 1 95% TMS Fashion (H.K) 3,000,000 1 60% Limited TMS International Limited 2,000 500 60% Trinew Limited 1,000 1 100% 10,000 1 100% Luen Thai Overseas Limited 3,500,000 3,000,000 85

10 494 372 302 156 1,420,000 10 49% LT Investment Co. Ltd. 25 8,000 49% 11 3,970 3,537 6,276 6,276 10,246 9,813 3,610 3,554 86

11 20,000,000 2,500 132 5 (48) 50% 2,400,000 1,360 1,712 25% 2,050,000 1,241,400 3,431 933 4,857 110 50% 2 1 31,590 29,553 65,345 1,235 50% Yuen Thai Holdings Limited 2 1 8,398 4,436 761 681 50% Yuenthai Philippines, Inc. 4,000,000 12,040 9,499 13,607 596 50% 2 1 8,193 13,550 1,927 (1,112) 50% 5,000,000 1 4,201 4,774 8,422 (509) 47.5% 87

12 12 (630) (991) 12 6,557 6,781 5,927 5,790 5,790 4,845 29 137 (1,605) 2,550 5,927 5,790 482 2,661 1,838 4,981 401 (230) (108) 63 2,550 2,550 883 2,431 2,550 1,730 7,594 (79) (232) (111) (422) 804 2,199 2,550 1,619 7,172 88

12 (21) (115) (136) (874) (794) (1,668) (895) (909) (1,804) 294 265 559 (601) (644) (1,245) 10,167,000 8,421,000 2,781,000 2,360,000 4,944,000 4,397,000 21,009,00017,974,000 13 38,564 29,807 25,536 18,091 15,130 14,443 79,230 62,341 548,232,000539,792,000 19,926,000 24,124,000 89

14 18,499 18,192 4,487 2,566 22,986 20,758 41 66 15 116,016 111,322 (773) (1,321) 115,243 110,001 120 88,783 75,905 1 30 16,432 23,876 31 60 3,097 4,218 61 90 2,037 2,234 91 120 228 881 120 4,666 2,887 26,460 34,096 115,243 110,001 90

15 773,000 1,321,000 1,321 1,480 688 902 (1,236) (1,061) 773 1,321 95,267 87,949 303 476 9,267 13,541 7,508 5,145 2,733 2,688 165 202 115,243 110,001 91

16 60,164 67,645 476 429 21,741 27,343 2 12,562 81,907 107,550 476 429 19 (513) (3,623) (2) (12,562) 81,392 91,365 1,723 1,564 46,620 67,656 10,576 9,092 3,667 13,537 19,942 15,422 2,825 3,407 83,630 109,114 92

16 426 373 50 56 476 429 1.02% 0.22% 36 50 90 1,723,0001,564,00019 17 0.01 1,500,000,000 15,000 0.01 992,500,000 9,925 992,500,000 9,925 i 166,000 2 992,666,000 9,927 (i) 166,000 16,000 0.13 93

17 10 10% 1% (i) (ii) (iii) 2.52 6,105 (158) 5,947 1.28 6,589 (151) 6,438 0.71 12,600 (134) (166) 12,300 25,294 (443) (166) 24,685 94

17 24,685,000 25,294,000 20,585,000 16,894,000 1.02 0.13 166,000 2.52 5,947 6,105 1.28 6,438 6,589 0.71 12,300 12,600 18 24,685 25,294 (a) (i) (ii) 116,998 11,722 (35,572) 1,527 6,665 101,340 (iii) 939 939 203 203 (372) (372) 116,998 11,722 (34,633) 1,730 6,293 102,110 116,998 11,722 (34,633) 1,730 6,293 102,110 (iv) 20,383 20,383 (iv) 9,451 9,451 20 (6) 14 63 63 1,890 1,890 117,018 11,722 (4,799) 1,787 8,183 133,911 95

18 (b) (v) 116,998 71,564 1,527 190,089 203 203 116,998 71,564 1,730 190,292 116,998 71,564 1,730 190,292 20 (6) 14 63 63 117,018 71,564 1,787 190,369 (i) (ii) (iii) (iv) Partner Joy Limited Partner Joy Limited 5%1,404,000939,000 On Time International Limited On Time On Time 40% On Time 17,490,000 Trinew Limited Trinew Trinew 40% 57,000,000 7,315,000 2,136,000 Trinew 40% 7,315,000 (v) 96

19 3,063 513 3,623 7,757 19,926 24,124 24,651 5,806 3,630 13,809 12,198 14,243 21,135 27,071 33,259 61,189 67,016 83,540 64,252 67,016 83,540 3,063 8,135 8,403 10,850 53,054 58,613 72,690 64,252 67,016 83,540 97

19 513 3,623 7,757 19,926 24,124 24,651 13,809 12,198 14,243 5,806 3,630 40,054 39,945 50,281 1 : 5,432 6,821 8,509 5,432 6,821 8,509 14,241 13,500 13,500 14,241 13,500 13,500 4,525 6,750 11,250 4,525 6,750 11,250 24,198 27,071 33,259 24,198 27,071 33,259 513 3,623 7,757 19,926 24,124 24,651 38,007 39,269 47,502 5,806 3,630 64,252 67,016 83,540 513 3,623 7,757 19,926 24,124 24,651 10,103 10,019 13,752 5,806 3,630 36,348 37,766 49,790 27,904 29,250 33,750 27,904 29,250 33,750 513 3,623 7,757 19,926 24,124 24,651 38,007 39,269 47,502 5,806 3,630 64,252 67,016 83,540 1 17,471 22,153 31,456 44,354 38,243 46,717 2,364 6,620 5,367 63 64,252 67,016 83,540 98

19 3.65% 1.52% 4.72% 3.10% 4.23% 4.82% 1.88% 4.27% 7.30% 1.13% 0.91% 1.78% 1.78% 3.53% 3.53% 5.25% 5.00% 5.00% 5.00% 5.00% 5.00% 324,385,000339,702,000 238,239,000 267,550,000 (i) 7,720,000 8,052,000 6 7 (ii) 1,723,0001,564,000 (iii) 13 (iv) 37 99

20 5,235 2,343 452 498 5,687 2,841 27 366 564 (116) 17 250 581 Real Actuarial Consulting Limited (a) 2,378,0002,623,000 100

20 (b) 5,152 1,903 83 440 5,235 2,343 382 378 233 188 (249) (2) 27 366 564 2,343 1,961 366 564 34 2,387 (24) (244) 163 62 5,235 2,343 7.50% 8.00% 9.25% 4.00% 14.00% 5.00% 101

20 (c) Real Actuarial Consulting Limited 418 388 34 110 452 498 14 11 7 6 (137) 27 (116) 17 102

20 (c) 498 470 (116) 17 70 11 452 498 1.8% 2.0% 2.5% 2.0% 103

21 397 1,264 1,264 33,885 1,264 35,546 (2,626) 1,264 32,920 (1,264) (1,661) 31,259 On Time International Limited On Time Trinew Limited Trinew On Time Trinew 24,805,000 On Time 17,490,000 Trinew 7,315,000Trinew 40% 36 1,264 31,744 1,176 1,264 32,920 104

22 0 30 53,346 41,564 31 60 2,401 2,010 61 90 205 1,548 90 4,735 5,120 60,687 50,242 29,381 26,426 19,642 8,164 3,088 6,709 7,510 8,001 729 658 337 284 60,687 50,242 105

23 8,121,000 9,519,000 9,519 8,356 26 3,019 3,802 (4,417) (2,639) 8,121 9,519 24 47 (51) a 680 73 727 22 (a) 24,750,00029,250,000 25 24 (47) 51 (680) (73) 1,449 422 (3,436) 2,527 625 (119) (2,714) 3,433 106

26 540,100 522,516 8,132 17,276 34 (27) 1,191 934 6 206 229 8 2,291 2,291 7 17,532 17,704 7 3,646 23 3,019 3,802 15 688 902 1,808 916 i 1,780 6,914 8,017 415 374 27 137,072 126,691 5,081 5,137 2,432 2,789 18,343 18,754 28,383 25,176 773,641 758,907 659,682 631,872 15,885 13,670 98,074 113,365 773,641 758,907 (i) 1,780,000 2,967,000 1,780,000 107

27 (a) 133,399 120,020 784 2,791 63 203 20(a) 2,378 2,623 20(b) 366 564 20(c) (116) 17 198 473 137,072 126,691 (b) 113 113 394 51 2 447 286 36 2 324 15 403 673 63 1,154 112 17 2 131 150 150 15 15 15 15 15 15 15 15 108

27 (b) 113 113 332 51 2 385 242 37 36 2 317 15 377 581 55 1,028 112 17 2 131 150 150 15 15 15 15 15 15 15 15 109

27 (c) 803 1,153 1,366 1,037 22 13 642 499 2,833 2,702 516,129580,645 4,000,0014,500,000 1 2 645,162709,677 5,000,0015,500,000 1 1 709,678774,194 5,500,0016,000,000 1 838,710903,226 6,500,0017,000,000 1 1 4 4 110

28 1,488 2,046 1,179 1,488 3,225 (333) (940) (6,454) (4,042) (6,787) (4,982) (5,299) (1,757) 21 29 16.5% 16.5% 4,150 6,059 (195) (1,930) 12 137 (1,605) 4,092 2,524 111

29 23,355 21,531 4,561 4,377 (1,288) (1,512) 536 955 257 242 221 392 (195) (1,930) 4,092 2,524 19.5% 20.3% (i) 3,887,000 3,453,000 (ii) 10,185,000 112

30 4,908,0004,870,000 31 (a) 18,052 15,220 992,613 992,500 1.8 1.5 (b) 992,613 992,500 927 993,540 992,500 1.8 1.5 113

32 0.2271.764 0.224 2,253 2,223 0.3192.488 0.236 3,167 2,343 5,420 4,566 0.319 3,167,000 114

33 23,355 21,531 8 15 (402) (371) 28 (6,787) (4,982) 28 1,488 3,225 727 22 (625) 8 119 8 2,291 2,291 6 206 229 7 17,532 17,704 3,646 276 34 (27) 63 203 38,515 43,256 (16,082) 16,207 (2,228) (16,653) (5,240) (1,498) 363 1,441 797 (3,608) (6,134) 1,677 10,445 (16,017) 543 492 (3,032) 387 2,394 5,105 (22) (2,199) 459 410 20,778 29,000 115

33 7 937 1,370 (34) 27 903 1,397 34 Glory Silk International Limited Glory 382,000 1,231,000 4,770 807 365 2 471 (1,052) 20(b) (2,387) (790) 2,186 8 (i) 357 2,543 (2,543) 365 (2,178) (i) 116

34 70% 1,004,000750,000 775,576,000 18,215,000 390 390 2,340 2,340 977 977 152 152 224 224 (63) (63) (4,190) (4,190) (170) 30% 51 (119) 8 119 977 977 117

35 (a) 101 851 32,889 32,441 32,990 33,292 (b) 3,873 2,897 6,299 5,568 4,655 5,257 14,827 13,722 24 77 133 24 210 118

36 Trinew 40% 7,315,000 Trinew 9,451,000 21 37 61.88% Helmsley Enterprises Limited (a) (i) 158 121 291 77 449 198 643 769 393 289 250 210 643 499 219 100 3,496 1,565 119

37 (a) (i) 310 153 103 352 197 505 300 4,020 2,819 11,239 7,305 15,259 10,124 (ii) 1,603 1,346 176 213 2,362 2,192 15,332 4,565 1,829 1,876 120

37 (a) (ii) 501 4,258 2,490 4,759 2,490 6,448 7,324 211 6,448 7,535 (b) 2,543,000 Kardon International Worldwide Limited Kardon Linktop Enterprises Limited Kardon 42%Linktop Enterprises Limited 121

37 (c) 3,797 4,539 3,530 3,723 100 93 7,427 8,355 (d) 279,311,000279,311,000 11,613,00090,000,000 11,613,00090,000,000 (e) 122

37 (f) (g) 3,097,000 38 123

財務概要 445,894 457,124 541,796 525,263 528,383 231,661 227,044 295,336 269,087 240,823 69,434 52,158 83,540 67,016 64,252 198,731 220,286 221,562 234,355 276,721 88,394 89,418 78,736 103,792 85,349 661,836 800,877 832,002 774,892 794,017 2,509 12,515 11,829 15,220 18,052 1.43 1.46 1.31 1.46 1.38 18.8% 19.3% 18.5% 18.5% 16.9% 0.4% 1.56% 1.42% 1.96% 2.30% 124