中國中藥有限公司 年報 2014 中 國 中 藥 有 限 公 司 China Traditional Chinese Medicine Co. Limited (Incorporated in Hong Kong with Limited Liability) (Stock code: 00570) ANNUAL REPORT 2014 2014 年報 China Traditional Chinese Medicine Co. Limited 2014 Annual Report

2 3 5 9 21 33 48 52 54 55 56 58 59 61 62

288 1601 (852) 2854 3393 (852) 2544 1269 publicrelation@china-tcm.com.cn 00570 10 8 183 17 1712-16 http://www.china-tcm.com.cn 2

817,743 841,075 1,031,766 1,394,613 2,690,173 34.68% 456,164 454,016 564,013 825,779 1,654,323 38.00% 103,667 84,563 235,795 272,757 545,390 51.45% 100,331 78,198 216,406 237,575 481,173 47.98% 53,047 59,667 168,526 198,463 413,090 67.05% 55.78% 53.98% 54.66% 59.21% 61.50% 12.68% 10.05% 22.85% 19.56% 20.27% 9.17% 7.26% 16.77% 14.29% 15.30% 3.07 3.34 9.45 9.68 16.30 51.80% 1,196,542 1,315,566 1,554,220 5,066,470 5,331,852 710,940 768,945 828,454 2,759,853 3,183,756 473,955 533,795 708,449 2,231,707 2,074,730 102,120 34,336 46,258 345,411 439,416 39.61% 40.58% 45.58% 44.05% 38.91% 3

92.90% 100.33% 2,690,173 1,654,323 1,394,613 825,779 817,743 841,075 1,031,766 456,164 454,016 564,013 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 108.14% 5.24% 413,090 5,066,470 5,331,852 168,526 198,463 1,196,542 1,315,566 1,554,220 53,047 59,667 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 4

主席報告 主席報告 5 中國中藥有限公司

2,690,173,0001,394,613,000 92.9%413,090,000198,463,000108.1% 9.68 16.30 68.4% OTC 81.48% 2006 201350% 2018 188 6

50% 500 60 26 2012 7

8

9

33252663 58 20127 200 26 11 492010 GMP8.756.5 32 22,000 88.5% 10.0%1.5% 2014 5 28 2014 50% 5 10

2014 7 17 2014 320 90 75% 50% 2014 8 26 2014-2017 5005002018-2020 2015 1 2320151 2 34 56 7 7 2012 1,600 11

2014 7 24 (1) (2) (3) 2014 7 29 (1) 2016 1 1 (2) 2014 6 12

IV 2014 5 8 2014 7 1 2014 10 2014 100 13

1,394,613,00092.9%2,690,173,000 7 2,380,766 88.5% 1,160,708 83.2% 105.1% 269,688 10.0% 195,424 14.0% 38.0% 39,719 1.5% 38,481 2.8% 3.2% 2,690,173 100.0% 1,394,613 100.0% 92.9% 850,358 31.6% 207,340 14.9% 310.1% 255,841 9.5% 215,338 15.4% 18.8% 250,049 9.3% 218,459 15.7% 14.5% 200,534 7.5% 38,238 2.7% 424.4% 158,455 5.9% 30,942 2.2% 412.1% 87,303 3.2% 90,231 6.5% -3.2% 87,113 3.2% 61,066 4.4% 42.7% 81,585 3.0% 85,102 6.1% -4.1% 57,909 2.2% 8,364 0.6% 592.4% 52,790 2.0% 8,212 0.6% 542.8% 608,236 22.6% 431,321 30.9% 41.0% 2,690,173 100.0% 1,394,613 100.0% 92.9% 14

2013 11 12 3.2 6 2015 COPD IgE 81.48% 7,595,900,0008,346,000,000 15

31%139,500,000 20% 20% 39,719,0007,187,000 GMP 16

2,690,173,000 1,394,613,00092.9% 1,035,850,000568,834,000 82.1% 74.8% 9.6% 15.6% 74.3% 13.0% 12.7% 1,654,323,000825,779,000 828,544,000 59.2% 61.5% 38,413,00015,769,000 143.6% 1,694 7,748-78.1% 35,708 7,390 383.2% 1,011 631 60.2% 38,413 15,769 143.6% 22,000,000 17

3,516,000 8,146,000 903,493,000 404,629,000 499,424 227,509 119.5% 244,012 109,440 123.0% 27,817 13,263 109.7% 132,240 54,417 143.0% 903,493 404,629 123.3% 123.3% 33.6% 29.0% 240,337,000 172,308,000 64,731 52,099 24.2% 20,895 15,412 35.6% 67,875 45,947 47.7% 86,836 58,850 47.6% 240,337 172,308 39.5% 18

240,337,000 172,308,000 39.5%12.4% 8.9% 545,390,000272,757,000100.0% 19.6% 20.3% 64,217,000 35,182,000 670,565,000 8,486,000 5.04%5.17% 16.309.68 68.4% 108.1% 413,090,000 198,463,000 2,094,478,000 1,778,150,000 439,721,000 349,650,000 1,236,400,000 1,016,832,000 1,133,841,0001,264,388,000 960,637,000513,762,000 1.81.4 0.45 0.37 19

1,172,213,000 1,251,896,000409,547,000338,928,000 302,526,000 189,003,000 6,7916,719 3,813 2,098 880 414,778,000 226,272,000 20

288 1601 54 132 413,090,000 198,463,000 11 26(a) 21

3 4 15 22

3.13 92 101 48 51 23

234,000 13.51B(1) 13.51B(1) 13.51B(1) 24

XV XV 7 8 352 267,511,621 10.56% 1 71,037,863 2.80% 2 66,488,379 2.62% 334,000,000 13.18% 334,000,000 13.18% 3 150,000,000 5.92% 4 334,000,000 13.18% 1. 267,511,621 2. 71,037,863 3. 334,000,000 25 4. 150,000,000Design Time Limited

352 336 1,016,023,044 40.10% 1 1,016,023,044 40.10% 1 71,037,863 2.80% 2 267,511,621 10.56% 71,037,863 2.80% 2 334,000,000 13.18% 3 150,000,000 5.92% 3 150,000,000 5.92% 4 & 5 150,000,000 5.92% 4 & 5 26

1. 1,016,023,044 2. 71,037,863 3. 334,000,000 150,000,000Design Time Limited 4. 5. 57.26% 100% 100% 100% CCBI Investments Limited 100% Design Time Limited CCBI Investments Limited 100% 336 35,000,000 39,000,000 45,000,000 500,000,000 610,000,000 740,000,000 27

1,140,179,044 45.00% 23,540,000 35,000,000 453,567,000 500,000,000 136,270,000 1,139,879,0441,121,023,044 44.99% 44.24% 28

10,012,000 136,270,000 (i) (ii) (iii) 14A.56 (i) (ii) (iii) (iv) 29

51% 39,719,000 7,187,000 31% 139,500,000 31% 20% 1,016,023,044 40.10% 81.48% 7,595,900,0008,346,000,000 30

14.4% 26.4% 14.4% 5.6% 20.7% 2.3% 5% 5(b) 24 31

33 47 33 47 25% 32

A.5.1 33

3.13 3.13 3.10A 3.10A 34

16 7 8 0 650 4 651 1,300 1 4/4 0/4 1/1 0/1 4/4 0/4 1/1 0/1 4/4 0/4 0/1 0/1 35

2/2 0/2 0/1 0/1 4/4 0/4 0/1 0/1 1/1 0/1 4/4 0/4 0/1 0/1 4/4 0/4 1/1 1/1 4/4 0/4 1/1 1/1 4/4 0/4 1/1 0/1 2/3 0/3 0/1 1/1 3/4 1/4 1/1 0/1 93 36

37

A.5.1 38

2/2 2/2 2/2 2/2 1/2 93 39

3.21 3.21 2/2 2/2 1/2 40

(a) (b) (c) (i)(ii) (d) (e) (f) (g) 41

2/2 2/2 2/2 1/2 93 42

52 53 43

2,461 3,796 6,257 F.1.1 15 44

(a) (b) (c) (d) (e) (f) www.china-tcm.com.cn publicrelation@china-tcm.com.cn (852) 2854 3393 (852) 2544 1269 288 1601 D.3.1 45

622 www.hkexnews.hk www.china-tcm.com.cn www.hkexnews.hkwww.china-tcm.com.cn 32 113 566 568 566 5% 288 1601 publicrelation@china-tcm.com.cn567 566 21 28 46

32 115A 615 616 615 (a) 2.5% (b) 50 (a) 288 1601 publicrelation@china-tcm.com. cn (b) (c)(d) (i) (ii) 616 615(a) (b) 105 7 47

54 47 47 48

70 70 40 600789 49 000597 49

47 66 63 50

58 CAD 56 378 729 51

54 132 62211 80 52

10 8 53

3(a) 2,690,173 1,394,613 (1,035,850) (568,834) 1,654,323 825,779 4 38,413 15,769 4 (3,516) 8,146 (903,493) (404,629) (240,337) (172,308) 545,390 272,757 5(a) (64,217) (35,182) 5 481,173 237,575 6 (69,627) (38,218) 411,546 199,357 413,090 198,463 (1,544) 894 411,546 199,357 10 16.30 9.68 62 132 54

411,546 199,357 (687) (1,149) (687) (1,149) 410,859 198,208 412,403 197,314 (1,544) 894 410,859 198,208 62 132 55

11 2,651 2,813 11 674,696 636,429 11 282,893 156,450 12 76,074 89,245 19 12,569 161,464 1,048,883 1,046,401 13 948,005 997,351 14 1,191,052 1,191,052 17 1,010 1,010 25(b) 48,424 52,506 3,237,374 3,288,320 17 662 6,164 18 417,695 405,504 19 1,236,400 1,016,832 20 305 4,239 20 439,416 345,411 2,094,478 1,778,150 21 540,113 595,763 22 501,648 583,626 25(a) 47,743 50,469 23 44,337 34,530 1,133,841 1,264,388 960,637 513,762 4,198,011 3,802,082 56

25(b) 245,022 269,600 23 25,302 29,449 22 670,565 668,270 940,889 967,319 3,257,122 2,834,763 26(c) 235,087 2,307,159 2,542,246 2,542,246 641,510 217,607 3,183,756 2,759,853 73,366 74,910 3,257,122 2,834,763 62 132 57

15 3,178,121 3,167,243 19 1,483 3,243 3,179,604 3,170,486 19 22,714 21,570 20 4,000 20 10,432 41,801 33,146 67,371 21 288,359 288,892 288,359 288,892 (255,213) (221,521) 2,924,391 2,948,965 22 670,565 668,270 2,253,826 2,280,695 26(c) 235,087 2,307,159 2,542,246 2,542,246 (288,420) (261,551) 2,253,826 2,280,695 62 132 58

26(c) 26(d)26(d)26(e)26(f)26(g)26(i) 175,589 625,875 319 (115,073) 89,619 6,378 (64,539) 110,286 828,454 17,317 845,771 198,463 198,463 894 199,357 (1,149) (1,149) (1,149) (1,149) 198,463 197,314 894 198,208 26(c) 59,498 1,680,965 1,740,463 1,740,463 56,699 56,699 (6,378) (6,378) (6,378) 20,617 (20,617) 235,087 2,306,840 319 (116,222) 110,236 (64,539) 288,132 2,759,853 74,910 2,834,763 59

26(c) 26(d)26(d)26(e) 26(f) 26(i) 235,087 2,306,840 319 (116,222) 110,236 (64,539) 288,132 2,759,853 74,910 2,834,763 413,090 413,090 (1,544) 411,546 (687) (687) (687) (687) 413,090 412,403 (1,544) 410,859 26(i) 11,500 11,500 11,500 26(c) 2,307,159 (2,306,840) (319) 47,710 (47,710) 2,542,246 (116,909) 157,946 (53,039) 653,512 3,183,756 73,366 3,257,122 62 132 60

20(b) 417,843 135,611 25(a) (92,844) (50,752) 324,999 84,859 (28,778) (50,299) (644) (588) (11,174) (25,959) 14,572 16 (65,826) (17,227) 3,934 83,386 (5,000) (5,000) 10,000 9,733 (1,429,817) 1,694 3,765 (81,222) (1,431,990) 749,648 1,247,777 26(c) 1,016,335 5,000 (5,000) (821,884) (577,301) (64,217) (35,182) (8,231) (7,683) (149,684) 1,648,946 94,093 301,815 345,411 46,258 (88) (2,662) 439,416 345,411 62 132 61

1 (a) 62211 76 87 9 32 1(c) (b) 1(h) 1(z) 62

1 (b) 2 (c) 10 12 27 32 36 39 21 10 1227 10 32 3232 63

1 (c) 36 36 39 39 21 (d) 64

1 (d) 1(q) (r) 1(h) 1(n) (e) (f) 65

1 (f) (g) (i) ; (ii) (ii) (i) 1(n) 66

1 (h) 1(w)(iii) (iv) 1(n) 1(w)(iii) 1(n) (i) 1(w)(ii) 67

1 (j) 1(n) 50 (k) 1(n) 68

1 (l) 1(n) 69

1 (m) (i) (ii) 1(i) 70

1 (n) (i) 71

1 (n) (i) (ii) 72

1 (n) (ii) 73

1 (n) (iii) 34 1(n)(i) (ii) (o) (p) 1(n) 74

1 (q) (r) (s) (t) (u) 75

1 (u) 76

1 (u) (v) (i) ( )( )() 77

1 (v) (i) (i) (ii) 1(v)(ii) (ii) (w) (i) (ii) 78

1 (w) (iii) (iv) (v) (x) 79

1 (x) (y) (z) (i) 80

1 (z) (i) 1 (ii) (i) 81

1 (aa) (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) (bb) 82

1 (bb) 2 1 11(b) 14 27 83

2 (a) 36 (b) (c) 84

3 (a) 1,781,062 800,851 494,005 287,594 155,082 118,896 81,585 85,102 178,439 102,170 2,690,173 1,394,613 10% (b) 85

3 (b) (i) EBITDA EBITDA EBITDA 86

3 (b) (i) 6,183 26,756 19,886 36,321 35,424 1,046,716 1,150,884 259,100 48,455 20,729 39,719 2,690,173 277,272 171,637 324,344 35,220 52,621 90 1,312 31 6,232 868,759 283,455 198,393 344,230 71,541 88,045 1,046,806 1,152,196 259,100 48,486 26,961 39,719 3,558,932 EBITDA 94,953 30,088 67,815 27,316 3,078 45,225 352,464 60,713 8,691 8,817 4,169 703,329 143 151 34 10 15 149 251 387 164 76 314 1,694 9,886 5,393 8,427 540 743 37,588 1,640 64,217 17,571 5,815 18,485 5,505 419 576 53,141 4,358 140 1,278 11,810 119,098 1,024,135 370,105 530,795 175,780 232,043 433,783 3,053,801 300,378 52,062 66,225 244,334 6,483,441 9,068 841 19,104 999 1,723 457 60,711 6,656 69 303 683 100,614 478,881 94,233 611,032 17,993 211,627 425,937 399,701 120,855 17,077 14,922 36,475 2,428,733 87

3 (b) (i) 10,303 11,226 15,432 46,614 24,281 930,859 254,872 48,946 7,492 6,107 38,481 1,394,613 302,569 216,479 314,691 22,230 114,388 4,803 975,160 312,872 227,705 330,123 68,844 138,669 935,662 254,872 48,946 7,492 6,107 38,481 2,369,773 EBITDA 95,765 44,377 99,539 21,822 5,039 10,975 74,718 12,079 2,174 2,103 12,226 380,817 40 25 7,386 10 110 121 6 17 33 7,748 11,286 5,229 9,447 124 1,470 7,107 519 35,182 19,542 6,310 14,225 6,473 262 339 8,918 390 24 201 11,597 68,281 1,085,293 464,179 738,298 158,040 318,383 493,046 2,798,319 246,733 35,222 58,926 319,172 6,715,611 19,608 2,484 146,245 3,364 37 1,615 1,126,012 105,160 2,013 32,117 129,088 1,567,743 592,015 205,949 774,707 16,278 293,933 512,606 366,712 120,983 7,387 14,406 103,643 3,008,619 503,086,000 503,086,000 88

3 (b) (ii) 3,558,932 2,369,773 (868,759) (975,160) 2,690,173 1,394,613 703,329 380,817 (23,971) (28,960) 679,358 351,857 34,897 23,915 (119,098) (68,281) (64,217) (35,182) (49,767) (34,734) 481,173 237,575 89

3 (b) (ii) 6,483,441 6,715,611 (1,318,451) (1,766,707) 5,164,990 4,948,904 1,010 1,010 662 6,164 48,424 52,506 116,766 57,886 5,331,852 5,066,470 2,428,733 3,008,619 (1,318,451) (1,763,465) 1,110,282 1,245,154 47,743 50,469 245,022 269,600 671,683 666,484 2,074,730 2,231,707 (iii) 90

4 30,551 5,064 23 5,157 2,326 1,694 7,748 1,011 631 38,413 15,769 (559) (892) 9,621 (502) (1,688) 1,412 (767) (1,995) (3,516) 8,146 91

5 (a) 64,217 35,182 (b) 393,615 208,982 21,163 17,290 414,778 226,272 (c) 6,257 3,967 162 162 5,238 2,566 63,708 47,149 49,990 18,404 19(b) 5,627 1,108 (1,327) 413 4,618 4,563 67,875 45,947 (1,011) (631) # 18 1,035,850 568,834 # 200,850,000 122,916,000 5(b) 92

6 (a) 91,149 54,769 (2,331) 269 88,818 55,038 (18,106) (16,820) (1,085) 69,627 38,218 25% 1) 15% 15% 15%2) [2011 ] 58 15% 93

6 (a) 10% 25% 5% 5% 12,000,000 25(d) (b) 481,173 237,575 123,637 58,505 4,012 2,462 (50,836) (27,020) (2,331) 269 8,763 4,002 (1,085) (533) (12,000) 69,627 38,218 94

7 622 11 78 32 161 950 950 185 1,701 100 1,986 185 1,661 78 1,924 185 185 (ii) (iii) 185 185 185 185 (iv) 167 167 185 185 (v) 1,277 4,312 178 5,767 95

7 485 485 184 1,626 70 1,880 (i) 24 81 8 113 (i) 24 97 5 126 36 183 8 227 (i) 24 24 (ii) 94 94 (i) 24 24 (i) 24 24 (i) 24 24 (i) 24 24 169 169 169 169 (iv) 169 169 19 19 1,008 2,472 91 3,571 (i) (ii) (iii) (iv) (v) 96

8 7 1,685 1,983 92 100 1,777 2,083 1,000,000 1 2 1,000,001 1,500,000 1 1,500,001 2,000,000 1 9 38,484,000 22,622,000 (38,484) (22,622) 3,629 19,549 26(a) (34,855) (3,073) 26 (b) 97

10 (a) 413,090,000 198,463,000 2,533,899,186 2,050,558,456 (i) 2,533,899 1,783,411 26(c) 267,147 2,533,899 2,050,558 (b) 98

11 238,623 207,031 11,002 56,024 512,680 6,134 94,550 613,364 3,184 36,232 4,336 9,909 53,661 91 53,752 134,336 73,820 15,744 10,737 234,637 76,120 310,757 12 44,505 16,244 1,878 62,627 62,627 (1,026) (1,026) 1,026 (637) (416) (1,867) (423) (3,343) (3,343) (52) (52) (52) 418,985 332,911 29,215 78,073 859,184 7,160 170,761 1,037,105 418,985 332,911 29,215 78,073 859,184 7,160 170,761 1,037,105 3,993 10,531 1,944 7,446 23,914 160,120 184,034 12 60,918 15,378 179 2,522 78,997 78,997 (352) (4,903) (764) (882) (6,901) (28,500) (35,401) 5 1 7 13 13 483,549 353,917 30,575 87,166 955,207 7,160 302,381 1,264,748 23,043 119,132 8,742 27,962 178,879 3,382 11,745 194,006 16,871 20,583 1,729 7,966 47,149 162 2,566 49,877 (803) (803) 803 (637) (56) (1,333) (409) (2,435) (2,435) (35) (35) (35) 38,474 139,659 9,138 35,484 222,755 4,347 14,311 241,413 38,474 139,659 9,138 35,484 222,755 4,347 14,311 241,413 24,100 24,783 4,347 10,478 63,708 162 5,238 69,108 (141) (4,413) (579) (826) (5,959) (61) (6,020) 1 1 5 7 7 62,434 160,029 12,907 45,141 280,511 4,509 19,488 304,508 421,115 193,888 17,668 42,025 674,696 2,651 282,893 960,240 380,511 193,252 20,077 42,589 636,429 2,813 156,450 795,692 99

11 (a) (b) 342 674 15,820,000 15,820,000 (c) 131,776,000 148,825,000 22 12 89,245 34,516 85,722 65,826 31,634 11 (78,997) (62,627) 76,074 89,245 100

13 65,400 48,695 59,000 782 744 174,621 588 588 582,458 251,863 818 106,337 941,476 (138) (138) 647,858 300,558 59,818 1,232 107,081 1,116,547 647,858 300,558 59,818 1,232 107,081 1,116,547 644 644 (100) (100) 647,858 300,558 59,818 1,776 107,081 1,117,091 65,400 11,765 23,108 496 161 100,930 8,159 2,036 6,002 286 1,921 18,404 (138) (138) 73,559 13,801 29,110 644 2,082 119,196 73,559 13,801 29,110 644 2,082 119,196 31,178 1,729 6,002 298 10,783 49,990 (100) (100) 104,737 15,530 35,112 842 12,865 169,086 543,121 285,028 24,706 934 94,216 948,005 574,299 286,757 30,708 588 104,999 997,351 101

13 251,863,000 198,972 198,972 37,779 37,779 10,075 10,075 5,037 5,037 251,863 251,863 3% 3% 15.35% 17.64%15.26% 17.11%) 4,203,000 22 4,700,000 14 1,191,052 169,170 1,021,882 1,191,052 1,191,052 102

14 100,391 100,391 23,664 23,664 26,055 26,055 11,221 11,221 2,449 2,449 5,390 5,390 733,037 733,037 139,184 139,184 37,116 37,116 18,558 18,558 93,987 93,987 1,191,052 1,191,052 103

14 3% 3% 12.84% 18.32% 15.59% 21.50%14.09% 15.03% 18.24% 20.31% 15 3,033,096 3,022,715 145,025 144,528 3,178,121 3,167,243 1(d) 104

15 (i) 6,460,000 96.94% (i) 7,526,100 98.00% (ii) 27,340,000 100% (iii) 24,529,300 100% (iv) 5,500,000 100% (iv) 10,000,000 100% (vi) 249,759,458 100% (iv) 39,000,000 100% (iv) 50,000,000 100% (iv) 27,520,000 100% 16,330,000 51% (v) 105

15 (i) (ii) (iii) (iv) (v) (vi) 49% 49% 44,235 107,843 105,762 116,691 (33,034) (98,643) (8,469) (10,211) 108,494 115,680 53,162 56,683 39,719 38,481 (7,187) (32) (7,187) (32) (3,521) (16) 15,702 8,984 (2,941) (8,495) (1,640) 3,563 106

16 234,050,000 94,722,000 93,294,000 17 1,010 1,010 1,010 1,010 662 1,164 5,000 662 6,164 662 1,164 107

18 (a) 137,441 168,795 141,846 124,294 115,254 89,390 394,541 382,479 17,479 17,465 5,675 5,560 417,695 405,504 (b) 1,037,174 564,364 4,470 (1,324) 1,035,850 568,834 19 565,218 415,275 608,653 508,327 19(b) (20,728) (16,431) 1,153,143 907,171 83,257 109,661 22,714 21,570 1,236,400 1,016,832 22,714 21,570 12,569 161,464 1,483 3,243 1,248,969 1,178,296 24,197 24,813 108

19 11,086,000 40,003,000 1,483,000 3,243,000 118,218,000 166,547,000 35,478,000 22(i) (a) 421,102 320,585 84,433 53,314 29,453 22,106 30,230 19,270 565,218 415,275 30 90 27(a) (b) 1(n)(i)) 109

19 (b) 16,431 9,475 5,848 5(c) 5,627 1,108 (1,330) 20,728 16,431 20,728,000 16,431,000 20,728,000 16,431,000 (c) 421,102 320,585 84,433 53,314 29,453 22,106 9,502 2,839 544,490 398,844 110

20 (a) 305 4,239 4,000 439,416 345,411 10,432 41,801 439,721 349,650 10,432 45,801 (305) (4,239) (4,000) 439,416 345,411 10,432 41,801 (b) 481,173 237,575 119,098 68,281 5(c) 5,627 1,108 5(c) (1,327) 413 5(a) 64,217 35,182 4 (1,694) (7,748) 4 559 892 4 (9,621) 4 502 4 1,688 (1,412) (12,191) (64,383) (223,624) (230,729) (16,185) 106,053 417,843 135,611 111

21 133,143 152,364 333,940 426,258 288,359 288,892 73,030 17,141 540,113 595,763 288,359 288,892 133,143 152,364 112

22 501,648 583,626 670,565 668,270 670,565 668,270 1,172,213 1,251,896 670,565 668,270 406,547 335,928 762,666 912,968 670,565 668,270 1,169,213 1,248,896 670,565 668,270 * 3,000 3,000 1,172,213 1,251,896 670,565 668,270 * Foshan Shunde Industry Service Innovation Center 113

22 (i) 11(c) 131,776 148,825 13 4,203 4,700 19 166,547 35,478 302,526 189,003 (ii) 3,000,000 22,000,000 3,000,000 (iii) 1,904,312,0001,256,825,0001,169,213,000 1,248,896,000 22(i) 911,665,000 892,726,000 27(b) 23 63,979 17,462 10,817 5,761 43,082 4 (5,157) (2,326) 69,639 63,979 44,337 34,530 25,302 29,449 69,639 63,979 114

23 24 20,000 20,000 25,000 25 (a) 90,118 55,401 (92,844) (50,752) (2,726) 4,649 19,737 142 50,469 25,941 47,743 50,469 115

25 (b) (17,675) (11,951) 5,455 (1,127) (14,061) 5,317 9,188 (24,854) (208,195) (16,248) 1,946 (8,876) 20,823 (210,550) 6,373 670 (265) 6,582 3,460 16,820 1,127 1,127 363 363 (219,497) (27,529) 7,136 (22,574) 11,899 33,471 (217,094) (219,497) (27,529) 7,136 (22,574) 11,899 33,471 (217,094) 1,031 1,264 (657) (553) 1,085 7,812 1,166 526 12,000 (6,589) 3,191 18,106 1,100 200 1,300 5 5 (210,654) (23,999) 7,005 (10,369) 5,310 36,109 (196,598) 48,424 52,506 (245,022) (269,600) (196,598) (217,094) 116

25 (c) 1(u) 73,259,000 20,195,000 (d) 37,848,000 14,059,000 6(a) 26 (a) 175,589 625,875 319 (173,218) (53,192) 575,373 59,498 1,680,965 1,740,463 (32,068) (3,073) (35,141) 235,087 2,306,840 319 (205,286) (56,265) 2,280,695 235,087 2,306,840 319 (205,286) (56,265) 2,280,695 7,986 (34,855) (26,869) 26(c) 2,307,159 (2,306,840) (319) 2,542,246 (197,300) (91,120) 2,253,826 117

26 (b) (c) 1 0.10 0.08 2 3,000,000 271,732 2,533,899 235,087 1,783,411 175,589 3 750,488 59,498 4 2,307,159 2,533,899 2,542,246 2,533,899 235,087 1 622 2 622135 3 1,680,965,000750,488,000 0.1 0.08 32 48B 4 62211 37 118

26 (d) 32 48B 49H 622 11 37 26(c) 622 (e) 1(x) (f) (g) 1(h) (h) 6226 (i) 11,500,000 119

26 (j) 540,113 595,763 501,648 583,626 1,041,761 1,179,389 670,565 668,270 1,712,326 1,847,659 (439,416) (345,411) 1,272,910 1,502,248 3,257,122 2,834,763 3,257,122 2,834,763 39% 53% 120

26 (j) 22 27 (a) 30 90 29 29 19 121

27 (b) 540,113 540,113 540,113 595,763 595,763 595,763 1,172,213 1,228,526 536,801 691,725 1,251,896 1,329,786 614,237 26,191 689,358 1,712,326 1,768,639 1,076,914 691,725 1,847,659 1,925,549 1,210,000 26,191 689,358 288,359 288,359 288,359 288,892 288,892 288,892 670,565 718,005 26,280 691,725 668,270 741,743 26,194 26,191 689,358 958,924 1,006,364 314,639 691,725 957,162 1,030,635 315,086 26,191 689,358 122

27 (c) (i) % % % % 6.27% 498,648 6.23% 580,626 0% 3,000 0% 3,000 501,648 583,626 4.11% 670,565 4.25% 668,270 4.11% 670,565 4.25% 668,270 1,172,213 1,251,896 670,565 668,270 42.8% 46.6% (ii) 100 6,705,000 6,683,000 123

27 (d) (e) 17 20% 132 233 (20%) (132) (233) 124

27 (f) (i) 13 () ( ) 662 662 1,164 1,164 5,000 5,000 622 662 6,164 1,164 5,000 125

27 (f) (i) (ii) 28 (a) 137,948 216,165 353,073 7,591 491,021 223,756 (b) 2,394 3,878 1,797 2,394 5,675 126

29 90,000 82,824 30 (a) 78 7,274 5,463 270 191 7,544 5,654 5(b) 127

30 (b) 45.32% 27.34% 100% 128

30 (b) (i) 387,664 123,695 (ii) 20,120 13,107 (iii) 10,012 (iv) * 5,000 * 129

30 (b) (iv) (i) (ii) (iii)14a 14A (v) 101,206 76,312 (vi) 5,000 9,626 2,038 9,626 7,038 130

31 1) 31%139,500,000 2) 81.48% 7,595,900,0008,346,000,000 32 131

33 11 16 38 10 28 15 9 6229 358 9 132