2688 386 (1) (2) (3) 1
2011 12 7 (i) (ii)............................................. 3.50 13 (A) 0.71.................................. 2.79 (B) 0.80.................................. 2.70 (C) 1.50.................................. 2.00 (D) 1.52.................................. 1.98 (E) 2.10.................................. 1.40 (F) 2.32.................................. 1.18 2
(G) 2.60.................................. 0.90 55% 45% 2.80 25.0% (1) (2) (a) (b) (3) 3
(4) (5) 5 (a) (b) 50% 4
(c) (d) (e) (f) (i) (ii) (iii) (a) (d) 30.1 2 5
90% 2.11 25% (a) (b) 25% 6
25% 25% 25% 55% 45% 16,699,756,843 (i) (ii) 55% 45% 14 100% 14 2012 2 28 7
2011 12 7 2011 12 13 (1) 2011 12 7 (i) (ii) 4,383,055,098 2011 598,304,000 2011 0.71 164,000,000 2005 3 20 2014 10 5 0.80 11,910,000 2004 9 1 2014 1 8 1.50 130,000,000 2010 10 20 2015 10 19 1.52 6,500,000 2011 1 27 2016 1 26 2.10 276,394,000 2011 8 3 2014 8 2 2.32 3,000,000 2008 9 19 2017 8 22 2.60 6,500,000 2009 10 14 2014 9 16 2012 9 17 2014 9 16 8
............................................... 3.50 13 (A) 0.71.................................... 2.79 (B) 0.80.................................... 2.70 (C) 1.50.................................... 2.00 (D) 1.52.................................... 1.98 (E) 2.10.................................... 1.40 9
(F) 2.32.................................... 1.18 (G) 2.60.................................... 0.90 55% 45% 55% 45% 13 55%45% 10
% 2.80 25.0 5 10 20 30 60 2.81 24.7 2.77 26.5 2.66 31.5 2.50 40.1 2.27 54.0 11
2011 6 8 3.27 2011 10 4 1.63 210,000,000 4.79% 210,000,000 4.79% 0 0 / 12
10 4,383,055,098 210,000,000 3.50 14,605,692,843 2011598,304,000 0.71164,000,000 0.8011,910,000 1.50130,000,000 1.526,500,000 2.10276,394,000 2.323,000,000 2.606,500,000 1,158,928,600 15,764,621,443 598,304,00012.01% 16,699,756,843 935,135,400 13
16,699,756,843 9,184,866,264 7,514,890,579 15,764,621,443 8,670,541,794 7,094,079,649 55% 45% (i) (ii) 55% 45% (1) (a) 14
(2) (a) (b) (3) (4) (1) (2) (3) (4) (5) (5) 15
(a) (b) (c) (d) (e) (f) 50% (i) (ii) (iii) 16
(a) (d) 30.1 2 2000 7 20 2688 : : : 17
2000 2 25 386600028 SNP * # * # # # * * # * + + + + + # * + 1995 8 22 384 18
(A)(B) : (i) % (1) % (2) % (3) % 210,000,000 4.79 2,195,910,604 50.10 4,383,055,098 100.00 3,287,291,324 75.00 0 0 1,092,250,832 24.92 2,295,180,304 52.36 3,287,291,324 75.00 210,000,000 4.79 1,103,659,772 25.18 2,087,874,794 47.64 (4) (4) 4,173,055,098 95.21 2,187,144,494 49.90 0 0 1,095,763,774 25.00 4,383,055,098 100.00 4,383,055,098 100.00 4,383,055,098 100.00 4,383,055,098 100.00 (1) 50.1% (2) 25% (3) 75% (4) 25% 19
(ii) % (1) % (2) % (3) % 210,000,000 4.22 2,495,660,908 50.10 4,981,359,098 100.00 3,736,019,324 75.00 0 0 1,257,113,499 25.24 2,624,247,504 52.68 3,736,019,324 75.00 210,000,000 4.22 1,238,547,409 24.86 2,357,111,594 47.32 (4) (4) 4,771,359,098 95.78 2,485,698,190 49.90 0 0 1,245,339,774 25.00 4,981,359,098 100.00 4,981,359,098 100.00 4,981,359,098 100.00 4,981,359,098 100.00 (1) 50.1% (2) 25% (3) 75% (4) 25% (5) 2011 105,000,000 105,000,000 20
2011 9 30 2011 9 30 20 151 9 1121 44 2011 4 1 2011 9 303 2011 9 30 2011 9 30 2011 9 30 2011 9 30 2011 9 30 7 167 670 1,410 21
2011 6 30 15 100 2011 9 30 20 151 9 112 1 44 2011 9 3062,494,950 18,983,808 1,42840,553 22
23
2011 12 12 24
55% 45% 55% 45% 18) ) (a) (b) (i) (ii) (i) 5% (ii) 50% 1 25
26
(i)(ii) (a) (b) (c) (d) (e) (f) 10% 27
90% 2.11 25% (a) (b) 25% 25% 25% 25% 55% 45% 28
1,0001.00 8 3 8.221 8.22 8.2 7 29
22 4) 7 60 7 3.8 5% 2211 22 7 30
(http://www.sfc.hk/ 1933 27A 1934 21E 31
(2) 9,184,866,264 8,670,541,794 25% 50% 32
55% 2011 12 12 ENN Gas Investment Group Limited ENN Gas Hong Kong Investment Limited 33
A B (a) A (b) B 2009 11 9 150,000,000 (a) A (i)2012 6 30 (ii) (iii)a (iv) (b) B (i)2012 2 20 (ii)b (a) A A (b) B 2012 5 31 34
2012 5 31 250,000,000 (a) (b) (c) (d) 3,500,000,000 250% EBITDA 2.5 : 1.0 40% 35
15% (i) (ii) 15% 40% (a) 20 (b) 36
A 2009 11 9 150,000,000 14 100% 14 2012 2 28 37
2011 9 30 314 180 2011 3 31 308 185 2010 3 31 229 140 2011 9 30 6.974.43 2011 3 31 10.977.81 2010 3 31 11.7310.15 (3) 2011 12 7 2011 12 13 38
384) 2011 2011 3 31 0.01 39
EBIT EBITDA EBIT 2011 12 12 40
2688) 0.1 2011 12 12 571 2011 12 6 41
18 (i) (ii) 2012 3 31 2012 3 31 (iii) 42
598,304,000 8.24 43
2003 2 6 386 600028 SNP 2011 12 12 16,670,000,000 44
(a) (b) (c) (d) % 2011 12 12 2011 3 31 2011 9 30 2011 11 30 2011 3 31 2011 9 30 2011 11 30 45
* # * # # # * * # * + + + + + # * + 46