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2010

2 3 4 6 8 10 2010 12 16 20 24 66 78 92 108 112 118 119 120 200 201

6 2

2010

3,800 400 1 6 6 19 3 8 2 24

Lai Chi Kok Properties Investment Limited LCK Commercial Properties Limited 50,000 LCK Real Estate Limited 17 156,700 KT Real Estate Limited 98 240 50% TM Properties Investment Limited 1 105,900 RoadShow Media Limited* Bus Power Limited* * 73% 2010

2010 4,407 2,674 1,877 988 578 472 514 136

2010

2010 12 31 2010 2009 / % 6,686.8 6,842.2 (2%) 6,317.3 6,441.8 (2%) 29.3 156.2 (81%) 327.0 236.5 38% 13.2 7.7 71% 930.7 799.8 16% 866.9 673.5 29% 2.15 1.67 29% 1.35 1.35 1.00 (100%) 6,737.3 6,788.9 (1%) 9,691.9 9,972.1 (3%) 2,133.2 2,681.3 (20%) 30.0 25.1 20% 1,407.9 2,062.8 (32%) 13.0% 9.8% 33% 5.9% 7.3% (19%) 12.9% 9.9% 30% 1.59 0.71 124% 25.45 22.00 16% 10,272.6 8,880.1 16% 2.67 2.72 (2%) 3,988 4,047 (1%) 12,132 12,327 (2%) 3.04 3.05 (0.3%) 397 392 1% 620 635 (2%) 4,748 4,501 5% 4,937 4,796 3% 8

4,000 3,000 2,000 1,000 10 8 6 4 2 0 06 07 08 09 10 0 06 07 08 09 10 20108.669 20102.15 1,100 1,000 900 800 700 06 07 08 09 10 50 40 30 20 10 0 06 07 08 09 10 30,000 25,000 20,000 15,000 10,000 5,000 0 201020099.99.8 2010 25.45 2009 16% 2010 9

2010 50% 2 0 1 0 1 2 1 50% 2009 2010 1 300 8,500 2010 TVB 200 2 0 0 9 Communicator Awards I n t e r n a t i o n a l Academy of The Visual Arts The Communicator Awards 2 0 1 0 7 3 0 8.6% 7.4% 2 0 0 9 Communication Concepts Apex Awards for Publication Excellence 10

2010 gbus 100 2010 100 2009 2010 2009-10 2009-10 2009 900,000 X1 1995 11 2009 2010 11

2010 2010 12 31 8.669 2009 6.735 28.7% 2009 1.67 20102.15 2010 1 50% 4.891 2010 3.949 2009 19.0% 2010 2009 82010 2009 1.9% 2009 9,760 1.7% 2009 3.3% 1.826 1.845 21.9% 2010 2010 11 2010 4.4% 2010 2010 7 30 8.6% 7.4% 2010 13

2010 2010 6,160 1.100 1.05 2009 1.05 1.00 2010 10 18 0.30 2009 0.30 1.35 20092.35 5.449 20099.486 2010 gbusgbus 2009 2010 14

2007 2008 OHSAS 18001 2011 2010 98 1 2011 3 50,000 2010 2011 3 17 2010 15

2010

問 2010 答 2010 2011 2010 問問 2011 答 2010 7 30 8.6% 7.4% 答 2010 17

2010 18% 0.5% 2010 89.6 2009 69.1 29.7% 2010 7 86 2011 3 17 130 51% 問答問問答 gbus gbus 答 2010 問答 18

問 2010 2009 問 15.8% 2010 答 Turbo Result Limited 答問 360 2010 問答 2011 3 2010 35% 100 答 2010 問答 3,000 2010 19

,,,,,, 24 38 42 46 50 52 58 20

66 72 76 78 84 89 2010 21

2010 23

1933 12,000 8,000 3,800 400260 77 1999 ISO 9001:1994 2002 ISO 9001:2000 2003 ISO 14001:1996 ISO 9001 ISO 14001 2004 ISO 14001:2004 2005 ISO 14001:2004 24

60,000 45,000 30,000 15,000 0 06 07 08 09 10 (%) 120 100 80 60 40 20 0 06 07 08 09 10 79 2007 Q 2009 ISO 9001:2008 20102009-2010 Take Me Home 2009-2010 2009-2010 100 2010 Take Me Home 2010 25

79 2010 45,000 148,023 1 100% 97.2% 2010 27

2+2 1997 2+2 2009 2010 131 35 48 40 28

2010 12 313,8223,665 157 96.6% 2010 1 1 3,550 151 179 3,880 103 (1) 48 151 (1) (119) (42) (48) (209) 2010 12 31 3,534 157 131 3,822 (1) 20 160 120 80 40 0 06 07 08 09 10 11 279 60 2011 2010 394 2009 8 16 2010 19 2010 12 31 600 450 300 150 0 (%) 100 75 50 25 0 06 07 08 09 10 06 07 08 09 10 (1) 16 19 9 9 (47.4%) (1) 38P44S 2010 29

2010 131 12 31 500 400 300 200 100 0 06 07 08 09 10 (%) 100 75 50 25 0 06 07 08 09 10 13 B168M 68X 268C B1 2010 1012 400 B176K276B 2011 1 225 2 30

2010 12 31 768,038 1,043 1990 720,005 1,094 1988 648,946 836 2002 148,961 849 1979 380,915 1983 82,422 166 1998 2,749,287 3,988 2010 31

20101,907 161 14163 37 2010 28 2009 2010 2010 8 2010 OMS CSS DMS OMS OMS CSS DMS OMS2011 32

2010 163 TOM 2009 EPC/RFID EPC/RFID TOM TOM TOM TOM OCM 2009 OCM 10 SAP 2009 SAP R/3 Release 4.6C ERP 6.0 2010 SAP 33 2010

1997 6 1 360 2010 578 79 201060,123 1 101.37%50,000 1 100% 21 20 34

2010 12 31 166 2010 1 1 165 2 167 21 21 (20) (2) (22) 2010 12 31 166 166 2010 2011 2010 35

80,000 65,000 50,000 35,000 20,000 06 07 08 09 10 201019 2010 5 E34 36

(%) 120 100 80 60 40 20 0 06 07 08 09 10 79 92% 32 20% 2010 37

201011 2010 19 2010 382 2008 11 ISO 9001:20002009 ISO 9001:2008 38

2010 11 2010 39

2010 15 24 2009 580 2010560 2009 4 2010 2,00027%2010 12 40

深圳香港 2010 41

2010 35% 2005 1 2010 251 5,248 9.325 20098.628 8.1% 2010 2010 42

2007 ISO 9001:2000 2010 2010 43

2003 31.38% 44

4,437 4,437 2006 ISO 9001:2000 2009 100 2010 45

Lai Chi Kok Properties Investment Limited 41 43 1,1156685,008 390 2006 112007 7 2010 1,111 1,183,61999.0% 46

LCK Commercial Properties Limited LCKCP LCKCP L CKCP 2009 3 2010 50,000 2010 47

LCK Real Estate Limited LCKRE LCKRE L CKRE 17 156,700 149,470 7,230 2010 85% 48

KT Real Estate LimitedKTRE KTRE Turbo Result LimitedTRL 98 240 240 KTRE TRL KTRE TRL KTRE TRL 36 KTRE TRL TM Properties Investment LimitedTMPI TMPI 80 TMPI T MPI 105,9002010 2011 3 (%) 240 98 1,150,000 50% 50,000 100% 156,700 100% 80 1 105,900 100% 2014 2010 49

400 2001 6 28 73.0% Bus-TV Bus-TV 20,000 400 2010 3GBus-TV 2009 2 Bus-TV 50

2010 3G Bus-TV 2009 11 2009-10 66% 2001 JCDecaux Cityscape Limited JCDecaux Texon Limited2008 2012 7 31 2010 2010300% 3 1 2010 51

2010 74 260 12 201065 2 A2006 1 28 2012 1 31 52

1997 2010 89% LED 201040 60 LED LED 2010 53

2010 17 2,417 32 2,720 2010 2010 (2745 4466) 2010 370 31 7 11 24 (SMS)2010 (2261 2791) 2010 15,949 1,329 54

2010 ISO 2010 ISO 2010 55

2010 9 2012 OHSAS18001 ISO 9001 ISO 14001 OHSAS 18001 56

70 2010 3,664166 2010 9 2,000 2010 12 2010 122011 4 2010 57

20102009 2010 2009 11,674 458 11,870 457 620 635 (1) 104 105 (2) 7 7 12,863 13,074 (1) (2) 58

2009 10,000 522010 14 30030 2010 59

2011 1 2011 1 2010 2010 400 201040 35 60

42 1973 2010 1,503212 11 192 201026 2,186 2010233 2010 12 31 15,000 10,000 5,000 0 06 07 08 09 10 (%) 20 15 10 5 0 06 07 08 09 10 2010 61

1990 2010 724 64 5,4794,182 334 2010 12 45 40 414 30 617 20 2010 20103.69% 2010 12 2010 63

2010 65

Q 2 010Q 2010 5 12013 4 30 Q 66

20062008 2009 30% 80%2009 20109732 89 294 201086949 2010 3,988 97 932 2,503 18850 12989 1992 90.4% 2010 67

2010 12 31 97 97 1,120 1,120 50 50 2,555 166 2,721 3,822 166 3,988 2010 68% 2009 0.001% 20010.005% 20012005 80%3 15 2003 6% 10% 12 2008 2005 68

2010 30,7001972 690,000 2010 18,000190 2010 2009 1,150 2010 69

gbus 2010778,000 329,000 11 640 2005 60% 2006 70

2006 201095,000 385,000 2009 12% 2010 95,000 385,000 25.5 2010 gbus 3.3 gbus gbus 2010 71

19932000 2010 2010 2010 2009 Communication Concepts Apex 2010 Awards for Publication Excellence G3 72

2010 gbus 2010 B1 B1 21,690 2010 6 gbus 2010 73

10 2010 710 2010 15 74

2010 TVB (www.tih.hk) (www.kmb.hk) 360 360 2009 (International Academy of The Visual Arts) The Communicator Awards 2010 2010 75

2010 Earth Partner Earth Partner 2010 2009-2010 76

5 1995 2010 14,000 2009-10 6 12 700 28 2009-10 15 100,000 2009 15 100,000 2010 11 21 652010 11 21 2010 77

2010 2010 12 31 8.6692009 6.7351.9342009 1.67 20102.15 2010 1 50% 4.891 2010 3.949200919.0% 2010 12 31 66.868 200968.422 2009 1.5542.3% 2009 2010 2009 2009132010 2,930 20091.562 200964.418 1.244 201063.174 20092.365 9,050 20103.270 2010 12 31 2010 2009 2010 2009 6,062.4 6,200.0 397.3 474.3 256.7 295.3 26.7 22.1 42.5 163.9 493.6 230.1 325.2 183.0 (48.3) 22.7 23.3 21.8 33.8 38.4 6,686.8 6,842.2 926.4 809.4 (6.6) (12.1) 10.9 2.5 930.7 799.8 (75.3) (117.7) 11.5 (8.6) 866.9 673.5 78

6 5 4 3 2 1 0 06 07 08 09 10 12 31 12,500 10,000 7,500 5,000 2,500 0 06 07 08 09 10 (%) 7,000 6,000 5,000 4,000 3,000 06 07 08 09 10 20 15 10 5 0 12,500 10,000 7,500 5,000 2,500 0 06 07 08 09 10 201063.489 200961.436 2009 2.053 3.3% 2010 1.803 84 89 20103,380 20092,960 2009 420 7,530 2009 1.177 157 6(a) 162 164 13 1.05 20091.05 1.002010 10 0.3020090.30 2010 1.352009 2.352011 5 19 2010 79

2010 12 31 2010 10.802 20096.515 165 166 14(a) 2010 12 316.675 20098.718 2010 12 312009 12 31 12 31 6,990(10%) 2.000(23%) 4.000(60%) 2.698(31%) 2009 1.976 30%) 4.019(46%) 2010 3.420(32%) 3.330(51%) 2009 7.280(67%) 3.110(48%) 2010 1,000(1%) 800(1%) 2010 12 31 21.332 2009 26.813 2010 12 31 2010 12 31 32.130 200941.000 4,520 2009 4,2102.566 2009 3.84628.007 2009 35.531 2010 2010 12 31 14.502 200916.461 2010 12 31 2,455.1 (667.5) 1,787.6 25.0 194.1 194.1 1.7 21.0 21.0 110.2 130.5 130.5 2,800.7 (667.5) 2,133.2 2009 12 31 3,072.1 (871.8) 2,200.3 39.9 309.4 309.4 1.7 21.5 21.5 132.8 150.1 150.1 3,553.1 (871.8) 2,681.3 80

2010 12 31 24.384 2009 9.407 2010 2009 1,797.1 346.3 582.5 293.0 356.7 2.0 1.5 2,438.4 940.7 2010 12 31 385 20093332011 2010 12 31 13.298 2009 7.200 2010 12 312009 12 31 20102009 2010 2009 12 31 2.2 2.5 2010 12 31 21.332 200926.813 2010 12 31 20091,210 660 2010 0.80%20090.89% 2010 12 31 3,000 20092,510 12 31 8,000 6,000 4,000 2,000 0 06 07 08 09 10 2010 81

50% 2010 12 31 3,470 2009 17.087 2010 2009 1,315.1 1,990.6 (188.8) (2,690.6) (1,161.0) (1,008.7) (34.7) (1,708.7) 2010 11.263 20097.000 (i) 11.266 200913.468 (ii) 1.338 20093.281(iii) 10.352 20096.189 (iv) 7.430 200921.833 2.000 2009 4.3592010 9.1392009 11.637 2010 12 31 137 82

2010 12 31 2010 2002 1 14 A 201056% 200927% 2010 12 31 2010 2010 7 30 8.6% 7.4% 2010 12 31 29.6712009 29.888 2010 12,863 2009 13,074 1.6% 3,000 2,500 2,000 1,500 1,000 500 0 06 07 08 09 10 4 3 2 1 0 2010 83

2010 2009 5,829.7 5,928.6 105.7 980.0 114.0 19.3 74.3 (36.4) (5,648.2) (5,465.6) (5.6) (9.5) 469.9 1,416.4 (58.9) (71.9) 411.0 1,344.5 305.3 364.5 7.1% 22.7% 5.2% 6.1% 946.7 965.2 309.7 320.8 11,674 11,870 3,822 3,880 4,826.5 4,801.4 4.110 (i) 1.057 2009 9.800(ii) 19 7,430 2009 3,640 20102.4332009 3.9491.51638.4% 2010 57.237 200958.2139,760 1.7% 2010 9.467 25920099.652 2641.9% 1.037 1.0501.2% 201056.4822009 54.656 1.826 1.84521.9% 84

0.5% 2010 89.62009 69.129.7% 2010 7 30 8.6% 2002 1 14 A 2010 11 3.1032009 2.9211,820 1,210 25.9% 2010 2010 2009 336.9 326.9 1.3 (3.5) (0.3) (3.0) (310.3) (292.1) (0.4) (0.4) 27.2 27.9 (4.4) (4.5) 22.8 23.4 6.8% 7.2% 29.4 28.2 25.6 25.8 458 457 166 167 288.7 299.2 2,280 2,34060 2.6% 2010 3.366 20093.2511,150 3.5%2,940 80,579 20092,820 77,151 4.4% 7 30 7.4% 2010 2,30020091,890 41021.7% 2010 2.56720092.95313.1% 2010 85

2.167 20092.108590 2.8% 38 200938 24 2007 8 2008 7 2010 56046 2009580 483.5% 2010 15 2009 2010 12 31 3822009377 3,000 2,500 2,000 1,500 1,000 500 0 06 07 08 09 10 400 300 200 100 0 06 07 08 09 10 12 31 5,000 4,500 4,000 3,500 3,000 06 07 08 09 10 12 31 14,000 13,000 12,000 11,000 10,000 06 07 08 09 10 86

Lai Chi Kok Properties Investment Limited 1,115 100 20091,112 1,186,100 99.2% 367 2010 2,300 2,220 4,7002010 155 4(b) 3,5002010 20101,700 2009 1.861 2011 1 2011 2010 12 31 274,520 2009 4,210 2010 12 31 2009 LCK Commercial Properties Limited LCKCP LCKCP 50,000 2009 2010 2010 12 31 1.109 2009 1.159 LCK Real Estate LimitedLCKRE LCKRE 9 17 156,700 3,520 20093,590 2010 12 31 KT Real Estate LimitedKTRE KT Properties Investment Limited KTPI 2009KTRE KTPI 98 240 2010 1 21 Turbo Result Limited TRLKTPI50% 4.900 2010 1 25KTRE TRL 50% 4.891 2010 12 31 2009 12 11 KTRE TRL 36 KTRE TRL 2010 4 26 2010 12 31 17.971 2009 2010 87

2010 2009 325.2 196.3 31.2 26.8 356.4 223.1 (295.3) (186.3) (110.0) (9.8) (4.4) (48.9) 22.6 (8.3) (4.4) (57.2) 18.2 (4.4) (4.2) (61.6) 14.0 2010 12 31 3.564 20092.231 6,160 2009 1,400 39 1.100 2009980 2010 3.24120091.941 67.0% 2009 11 20091.863 58.5% 20102.953 2010 2010 12 31 6.403 2009 6.120 2010 12 31 3,380 20093,840 88

2010 12 31 2003 4 2005 1 80 387 31.38% 35% 2010 4,437 5,248 932.5 392.1 2010 4,656 21,950 2003 3 8,000 7,550 31.38% 4,4374,656 2010 2005 1 3.871 3.639 35% 251 5,248 2010 9.325 20098.628 8.1% 14A (a) KT Real Estate LimitedKTRE 2010 4 26 KTRE Turbo Result LimitedTRL 98 240 2010 4 26(i) (ii) KTRE TRL (1)20,000,000 (2)(a) 2010 89

1%(b) 25,000,000 1,150,000 (1)20,000,000 (2)(a) 1% (b) 26,000,000 (1) 3.2 (2) 3,840,0001,840,000 2010KTRE 2,000,000 920,000 2010 4 26 (b) 19636(a)(ii) 2010 2010 1 1 2010 2010 12 31 2010 67,869,000 2010 11 24 2011 2011 2011 1 1 2011 12 31 77,250,00020102011 2009 11 202010 11 24 (c) Lai Chi Kok Properties Investment Limited 2003 7 17 2007 8 15 65,000,000 196 36(a)(iv) 2010 12 31 127,000 2010 12 31 64,122,000 2003 7 21 2007 8 16 90

(d) Bus Focus LimitedBus Focus 2008 11 12 Bus Focus Bus Focus 2008 8 1 2012 7 31 Bus Focus 2010 12 31 (a) Bus Focus 16,738,000 (b) Bus Focus 7,474,000 2008 11 13 14A 1. (i) (ii) (iii) 2. 2010 12 31 2009 11 2072,000,000 3. 2010 12 31 10,000,0002009 12 313% 4. 2010 12 31 12,426,000 2007 8 1665,000,000 5. Bus Focus 2010 12 31 2008 11 13 18,000,00047,100,000 3000 740 14A.38 (b) (c) (d) 2010 91

14 2010 12 31 10 COSOISO Higgs19 2010 93

15 (4 INEDs + 8 NEDs + MD + 2 EDs) (1 INED + 3 NEDs + MD + 1 ED) (2 INEDs + 1 NED) (2 INEDs + 1 NED) (3 INEDs) INED NED MD ED 3.10(1) (2) 94

3.13 10 2010 GBM GBE GBS GBS OBE GBS CBE GBS SBS OBE M.H. 2010 5 20 112 117 2010 12 31 123 124 2010 95

2010 5 20 2010 5 20 2010 2010 5 9 2.07 2010 2011 5 19 2011 2011 96

2010 9 16 2010 89 91 2010 97

112 117 ^ ^ ^ ^ # # # # * * ^ # * 2010 5 9 2010 98

2010 (a) 2010 6 30 2010 12 31 2010 (b) 2011 12 31 2010 108 111 2010 99

2010 2010 3 12 2010 GBM, GBE 12/12 GBS 11/12 11/12 2/2 GBS, OBE 11/12 2/2 2/2 GBS, CBE 12/12 2/2 GBS, OBE 1 4/4 0/1 0/1 12/12 11/12 12/12 12/12 11/12 GBS 12/12 12/12 2/2 12/12 12/12 12/12 2/2 SBS, OBE 12/12 M.H. 9/12 9/12 11/12 12/12 2 8/8 1. 2010 5 9 2. 2010 5 20 100

118 119 130 131 199 2010 12 31 2010 101

Sponsoring Organisations of the Treadway CommissionCOSO 102

2010 98 99 ISO ISO 1999 ISO 9001:1994 2003 ISO 14001 2008 ISO 9001:20002009 ISO 9001:2008 ISO ISO ISO ISO ISO 2010 103

104 SAP 2010 2010

2010 12 31 2010 12 31 2010 12 31 6.4 0.2 6.6 www.tih.hk 20092010 Citation for Design ARCHonors Award for Financial Data director@tih.hk 2007 20 2010 5 20 2010 2009 12 31 2009 12 31 1.051.00 20% 2010 105

2010 10% 10% 2010 2010 5 20 2011 www.tih.hk 2009 2010 2010 2010 2011 2010 2011 2011 2011 3 17 2011 4 14 2011 5 11 2011 5 12 19 2011 5 19 2011 5 24 2011 8 2011 10 2011 12 31 106

2 0 1 0 2 0 0 9 Communications Concepts Apex Awards for Publication Excellence International Academy of the Visual Arts Communicator Awards www.kmb.hk 2010 107

2003 14 108

2010 2010 2010 2010 Higgs 19 2010 504,000 * 360,000 * 84,000 60,000 42,000 30,000 336,000 * 240,000 * * 12 2010 109

2010 12 31 2009 158 1597 118 110

2010 2000 i) 1978 426 2000 12 1 ii) 1983 426 2000 12 1 iii) 5% 12% 5% 20,000 2010 111

GBM, GBE, PhD, FREng 93 1999 8 12 XV 40 1974-78 1980-88 1997-99 1966-70 1974-78 1960-611994-97 19721984 1991 1990 1982 1985 1992 1997 GBS, LLD, BA 70 2000 3 18 2001 6 14 2006 2 1 2009 1 16 30 1993 2007 1997 2002 1997 2003 112

MA(Cantab), MBA, Hon DBA, Hon LLD 57 1997 9 4 1981 9 1 1997 5 8 XV D.Sc., MSc(Lond), DIC, MICE 60 1997 9 4 1990 11 15 1997 5 8 XV 2010 113

80 1997 9 4 1983 3 3 1997 5 8 GBS, DBA(Hon), DSocSc (Hon), BA, DipMS, CCMI, FCILT, FHKIoD 67 1997 9 4 2008 4 7 1993 11 1 2006 12 31 1997 5 82006 12 31 2007 1 1 2008 4 7 2008 4 8 2000 2003 1964 1978 1980 1993 1978 1980 2000 12 DHL/ BSc(Econ) 51 1997 9 4 1993 1 14 1997 5 8 1995 1999 Hong Kong Oxford Scholarship Fund 2003 The Friends of Cambridge University in Hong Kong The Friends of Cambridge University Prince Philip Scholarship 114

M.H., BEc, AASA, FCILT 7 6 1 9 9 7 9 4 1993 9 17 1994 8 24 1960 1989 3 1 65 1999 7 21 1999 9 1 2003 8 13 BA, MBA(Chicago), MPA(Harvard), FCIM, CMILT, MHKIoD 47 1995 1997 2010 Mason Fellow Caring Heart 2008 10 23 1995 2008 10 13 2010 115

MSc(Lond), BSc(Eng), DIC, FICE, CEng, PEng, FITE 73 1998 7 16 1995 6 8 1998 10 13 XV 10 24 GBS, OBE, LLD, DSocSc, BA, FCPA(Practising), FCA, FCPA(Aust.), FCIS 57 1998 12 10 2004 9 16 2010 4 19 XV MA(Cantab), MBA, FCILT, MHKIoD 49 2001 1 1 2008 10 13 1998 9 1999 1 2003 4 2002 1 10 2007 1 1 2008 4 8 116

GBS, CBE, MSS(Birmingham, UK) 65 2004 10 26 1966 1993 2002 7 36 1981 19851985 1988 1988 19891989 19921992 1993 1993 1996 1996 19971997 1999 1999 2002 1997CBE 2002 2003 SBS, OBE, MPA(Harvard), BA(Lond) 60 2008 3 1 2008 3 20 2007 2 35 2002 2004 1996 2002 1993 1996 1991 1993 1989 1991 1979 1982 BA, MBA 39 2010 5 20 2009 10 McKinsey & Company Brown University Northwestern University Kellogg School of Management 2010 117

MA(Cantab), MBA, FCILT, MHKIoD 49 116 BSc 46 1990 1993 2006 3 2009 2011 M.H., BEc, AASA, FCILT 76 115 BA, MBA 39 117 BBA, MBA, CA(Canada), FCPA, MHKIoD 43 2003 BA, MIPA 41 1991 2004 2007 CMILT 47 1988 1997 6 2009 12 2010 6 118

MBA, BA, AAT, CGA, ACIS, MIFC, CFC MA, CMILT MBA, BA, AAT, CGA, ACIS, MIFC, CFC MBA, MSc(Finance), LLB(Peking), ACA, CPA, ACIS BA MSc, MBA, CEng, MIStructE, MHKIE, RPE, AP, RSE MBA, ACA, CPA BA, MIHRM BSc, DMS BBA, ANZIIF(Snr Assoc), MCIArb BSc(Hons), ACA, FCCA, CPA, CGA BBA MBA, CPA BA MSc(SafMgt), GD(OHS) BSc, MIMechE, CEng BSc(Eng), MSc, MSc(Eng), MBA, MIRTE, FIMechE, CEng, FHKIE, ACGI, MSOE, RPE, CEnv BA, CMILT MBA, BSc, CGA, ACCA, CMILT BSc BA, CMILT, AMInstTA, PgD MBA, BA, AAT, CGA, ACIS, MIFC, CFC MBA, CMILT CMILT ACA, CPA, ACIS, ACS BBA 2010 119

121 129 130 131 132 133 134 135 136 137 138 199 138 151 152 154 154 155 156 157 158 159 160 160 161 161 161 162 162 164 165 167 168 168 169 169 169 169 172 172 173 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 176 177 178 179 180 181 181 182 182 183 184 184 186 186 187 187 188 189 189 195 196 198 198 198 199 199 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 2010 12 31 173 174 21 174 176 22 120

2010 12 31 Clarendon House, 2 Church Street, Hamilton HM11, Bermuda 19 13 2010 12 31131 199 866,886,0002009673,504,000 0.30 2010 10 18 20090.302011 5 24 2010 12 31 1.052009 1.05 1.00 535,00020091,070,000 703,686,000 335,051,000 341,080,000 14 31(b) 2010 121

* * * * * 2010 5 20 2010 5 9 2010 5 9 * * 14 112 117 122

2010 12 31 XV 352 (i) (a) 1 * 18,821 18,821 0.005% * 393,350 393,350 0.097% 61,522 61,522 0.015% 21,000,609 21,000,609 5.203% 6,251,416 6,251,416 1.549% 2,000 2,000 12,427 2,651,750 2,664,177 0.660% 1 41,416 21,000,609 21,042,025 5.213% 2 2,000 2,000 * * * (1) 2,651,750 (2) 21,000,609 2010 123

(i) (b) 0.1 * 4,000 4,000 * 37,400 37,400 0.004% 6,600 6,600 0.001% 123,743 123,743 0.012% 412,371 412,371 0.041% 209,131 209,131 0.021% 1 1,000,000 123,743 1,123,743 0.113% 2 * * * (1) 209,131 (2) 123,743 2010 12 31 124

(ii) 2001 6 7 102011 6 6 2010 12 3199,736,5332010 12 31 10%12 1%0.1 2010 12 31 18 352 36(a) XV 5% 2010 125

2010 12 31XV 5% XV 2 3 336 1 1 2 133,271,012 133,271,012 33.0% 1 68,600,352 68,600,352 17.0% 3 42,592,788 42,592,788 10.6% HSBC Trustee (C.I.) Limited 3 134,341,973 134,341,973 33.3% Kwong Tai Holdings (PTC) Limited 4 21,000,609 21,000,609 5.2% (1) 68,600,352 (2) 30% 2001 10 19 35% 30%2001 10 19 30% 35%10 26.1(a) (b) 30% 35% 26.1(c) (d) 2% 2001 10 19 30% 35% 2001 10 19 10 (3) HSBC Trustee (C.I.) Limited 176,934,761 133,271,012 (4) Kwong Tai Holdings (PTC) Limited21,000,609 118 126

2011 1 1 (i) (ii) (iii) (iv) (v) 1978 2 15 5.5% 4.5% 2001 65 2010 12 31 1,206,019,000 2010 12 31 2010 12 31 504,970,000 505,221,000 (i) (ii) (iii) (iv) (v) 1983 7 1 5.5% 4.5% 2001 60 2010 12 31 2,767,252,000 2010 12 31 2010 12 31 1,212,364,000 1,294,235,000 1(x)(ii) 22 2010 127

5% 12% 5%20,000 2010 12 31 2010 12 31 26 30% 30% 10200 10 14 87 128

2010 12 31 3.13 2011 3 17 2010 129

131 199 2010 12 31 1981 90 2010 12 31 10 8 2011 3 17 130

2010 12 31 2010 2009 3 13 6,686,836 6,842,195 4 186,570 90,539 (6,665) (27,809) 5(a) (3,040,705) (3,057,194) (899,248) (900,942) (1,140,289) (960,000) (245,274) (236,013) (363,827) (372,356) (1,832) (2,069) (651,095) (587,198) 524,471 789,153 5(b) (6,618) (12,143) 36(a)(xi) 489,052 33,821 29,568 3,021 (110,000) (9,801) 5 930,726 799,798 6(a) (75,352) (117,742) 855,374 682,056 9 866,886 673,504 (11,512) 8,552 855,374 682,056 471,952 186,099 394,934 487,405 866,886 673,504 11 1.17 0.46 0.98 1.21 2.15 1.67 138 199 12 2010 131

2010 12 31 2010 2009 855,374 682,056 21,885 610 (2,935) (2,070) 10 8,222 (1,684) 10 595 885,481 676,572 896,993 672,947 (11,512) 3,625 885,481 676,572 138 199 132

2010 12 31 2010 2009 14(a) 123,767 115,925 5,236 73,438 77,946 4,073,853 3,906,247 4,276,294 4,100,118 15 22,536 21,536 16 63,315 63,315 17 372 18 44,267 19,161 20 640,263 612,007 21 636,262 333,548 22(a) 789,983 715,993 29(b) 6,055 6,013 6,478,975 5,872,063 45,245 42,082 62,032 72,376 24 256,628 384,579 32,569 40,074 29(a) 15,781 7,868 25(a) 73,921 51,200 25(a) 2,726,776 3,501,861 3,212,952 4,100,040 26 197,592 401,930 27 1,109,044 1,069,502 28 131,122 127,542 29(a) 12,400 47,104 1,450,158 1,646,078 1,762,794 2,453,962 8,241,769 8,326,025 2010 133

2010 12 31 2010 2009 26 469,916 469,832 28 300,295 305,067 29(b) 499,456 499,146 30 29,885 34,280 1,299,552 1,308,325 6,942,217 7,017,700 31(b) 403,639 403,639 6,333,659 6,385,218 6,737,298 6,788,857 204,919 228,843 6,942,217 7,017,700 2011 3 17 138 199 134

2010 12 31 2010 2009 14(b) 19(a) 1,188,423 1,188,423 1,188,423 1,188,423 473 1,023 19(b) 7,890,053 7,319,559 25(a) 31,590 28,417 7,922,116 7,348,999 27 42,088 41,051 19(b) 7,357,759 6,788,653 7,399,847 6,829,704 522,269 519,295 1,710,692 1,707,718 31(a) 403,639 403,639 1,307,053 1,304,079 1,710,692 1,707,718 2011 3 17 138 199 2010 135

2010 12 31 31 (c)(i) 31 (c)(ii) 31 (c)(iii) 2009 1 1 403,639 1,102,851 110,656 (595) 1,690 5,042,582 6,660,823 253,080 6,913,903 2009 673,504 673,504 8,552 682,056 532 595 (1,684) (557) (4,927) (5,484) 532 595 (1,684) 673,504 672,947 3,625 676,572 12(b) (423,821) (423,821) (423,821) (27,862) (27,862) 12(a) (121,092) (121,092) (121,092) 2009 12 31 2010 1 1 403,639 1,102,851 111,188 6 5,171,173 6,788,857 228,843 7,017,700 2010 () 866,886 866,886 (11,512) 855,374 21,885 8,222 30,107 30,107 21,885 8,222 866,886 896,993 (11,512) 885,481 12(b) (827,460) (827,460) (827,460) (3,976) (3,976) (8,436) (8,436) 12(a) (121,092) (121,092) (121,092) 2010 12 31 403,639 1,102,851 133,073 8,228 5,089,507 6,737,298 204,919 6,942,217 138 199 136

2010 12 31 2010 2009 25(b) 1,407,931 2,062,841 31,816 32,945 (8,411) (10,131) (116,301) (94,634) (397) 1,315,035 1,990,624 (22,721) (51,200) 742,962 (2,183,342) (1,034,218) (613,421) (1,000) (5,500) (386,565) (93,570) 88,554 496,399 3,652 32(b) 106,640 21,945 32(a) (2,030) 25,830 (26,127) 3,202 26,374 16,145 8,680 (188,751) (2,690,560) (948,552) (544,913) (8,436) (27,862) 200,000 400,000 (400,000) (835,920) (3,976) (1,160,964) (1,008,695) (34,680) (1,708,631) 1 1 671,654 2,377,892 5,088 2,393 12 31 25(a) 642,062 671,654 138 199 2010 137

1 (a) 2 (b) 2010 12 31 1(e) 1(f)1(g)1(x)(ii) 38 (c) 138

1 (c) 1(f)1(d) 1(m)(ii) (d) (i) (ii) 1(e) 1(m) 2010 139

1 (d) 1(f) (e) (i) (ii) (ii) (i) 1(m)(ii) 140

1 (f) 1(m)(i) 1(u)(v) 1(u)(iv) 1(m)(i) (g) 1(h) (h) 2010 141

1 (i) 1(k) 1(m)(ii) 40 1(u)(vi) (j) 1(m)(ii) 1(v) 40 14 5 14 25 2 7 142

1 (k) 1(j) 1(m) (l) 1(m)(ii) 5 10 1(m)(ii) (m) (i) 1(m)(ii) 2010 143

1 (m) (i) 1(d)1(m)(ii) 1(m)(ii) 144

1 (m) (ii) 2010 145

1 (m) (iii) 34 1(m)(i) (ii) (n) (o) (p) 1(m)(i) (q) (r) (s) 1(t)(i) 146

1 (t) (i) 1(t)(iii) (ii) 1(t)(iii) 1(t)(iii) (iii) (u) (i) 2010 147

1 (u) (ii) (iii) (iv) (v) (vi) (v) (w) 2005 1 1 2005 1 1 148

1 (w) (x) (i) (ii) 10% 10% (iii) (iv) 2010 149

1 (x) (iv) (v) (y) 150

1 (y) (z) (i) (ii) (iii) (iv) (v) (vi) (i) (aa) 2010 151

2 32008 27 5 39 2009 5 39 39 5 39 5 3 27 5 3 27 2009 17 32008 2010 1 1 32008 152

2 3 2008 272008 2010 1 1 5 5 27 3 27 28 312010 1 1 2010 153

2 3 27 272010 1 1 27 17 2009 3 19 2010 2009 6,060,373 6,146,454 256,986 295,373 29,263 156,176 327,000 236,525 13,214 7,667 6,686,836 6,842,195 10% 13 154

4 2010 2009 (a) 26,657 (58,100) 22(e) 73,990 (39,442) 284 852 36,310 36,380 27,059 29,298 16,145 8,680 8,642 6,004 15,519 (2,801) 3,345 400 80,285 1,287 (125) 177 (b) (38,628) 17,247 27,644 186,570 90,539 (a) (b) 50% 2010 2009 9.7% 2010 12 31 31,572,000200958,100,00027 2010 12 31 10% 38,628,0009,072,000 53,111,000999,000 2010 155

5 2010 2009 (a) 68,048 65,557 30 5,593 2,887 2,967,064 2,988,750 3,040,705 3,057,194 (b) (c) 6,618 12,143 4,810 4,107 1,738 1,465 31,417 29,551 896,987 898,457 2,056 2,079 205 406 663 296 171 (731) (80,285) 12,440 2,843 6,961,00020095,796,000 (6,253) (1,871) 324,0002009177,000 156

6 (a) 2010 2009 71,902 138,813 1,923 357 73,825 139,170 260 247 (401) (141) 247 1,400 268 (21,675) 75,352 117,742 2010 16.5% 2009 16.5% (b) 2010 2009 930,726 799,798 151,416 135,541 23,008 11,091 (102,022) (29,422) 1,078 1,077 1,522 357 350 (902) 75,352 117,742 2010 157

7 161 2010 12 31 360 840 67 1,267 (1) 450 3,963 1,000 476 5,889 (1) 2010 5 20 223 3,501 502 200 4,426 (1) 600 600 360 360 360 360 360 360 756 756 (1) 750 750 (1) 420 420 450 450 (1) (2) 178 178 504 504 738 738 648 648 (1) 420 420 (3) 159 159 7,736 8,304 1,569 676 18,285 158

7 161 2009 12 31 360 600 67 1,027 (1) 415 3,901 1,000 468 5,784 (1) 360 360 360 360 360 360 360 360 456 456 (1) 460 460 (1) 420 420 415 415 (1) (2) 108 108 504 504 402 402 592 592 (1) 377 377 (3) 450 450 6,399 4,501 1,067 468 12,435 (1) (2) 2008 11 20 (3) 2010 5 9 2010 159

8 2009 7 2010 2009 673 415 14,089 12,353 2,655 2,808 888 685 18,305 16,261 2009 2010 2009 2,000,0012,500,000 1 1 2,500,0013,000,000 2 3 4,000,0014,500,000 1 5,500,0016,000,000 1 1 9 900,895,0002009 362,106,000 2010 2009 900,895 362,106 50,631 109,061 31(a) 951,526 471,167 160

10 2010 2009 8,222 (1,809) 125 8,222 (1,684) 595 11 (a) 866,886,000 2009 673,504,000 2010 2009 12 31 403,639,413 471,952,0002009 186,099,000 394,934,0002009 487,405,000 2010 2009 12 31 403,639,413 (b) 12 (a) 2010 2009 0.30 121,092 0.30 121,092 1.05 423,821 1.05 423,821 1.00 403,639 1.35 544,913 2.35 948,552 2010 161

12 (b) 2010 2009 1.05 423,821 1.05 423,821 1.00 403,639 2.05 827,460 1.05 423,821 13 8 (a) 162

13 (a) 20102009 12 31 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 6,062,437 6,200,046 325,231 183,022 29,633 156,176 269,535 302,951 6,686,836 6,842,195 102,072 54,371 13,339 28,010 19,837 130,082 87,547 6,164,509 6,254,417 325,231 196,361 29,633 156,176 297,545 322,788 6,816,918 6,929,742 328,028 387,897 (57,155) 18,220 (16,999) 185,252 73,078 59,682 326,952 651,051 1,044 3,109 12,024 13,648 284 852 13,352 17,609 (5,993) (9,930) (625) (2,213) (6,618) (12,143) (859,399) (854,498) (6,498) (9,875) (33,351) (36,569) (899,248) (900,942) 731 (318) (10) 80,285 (345) (286) 68 79,989 (110,000) (9,801) (110,000) (9,801) (171) (171) (2,886,038) (2,903,030) (54,454) (39,975) (91,445) (106,691) (3,031,937) (3,049,696) (4,544) 33,821 34,112 33,821 29,568 5,113,638 5,055,096 797,887 852,081 64,610 198,217 1,087,663 1,072,698 7,063,798 7,178,092 640,263 612,007 640,263 612,007 1,044,774 605,984 1,303 11,021 34,112 36,569 1,080,189 653,574 2,415,519 2,433,116 66,220 47,987 176,156 187,252 49,373 247,777 2,707,268 2,916,132 (b) 2010 2009 6,519,373 6,606,954 297,545 322,788 (130,082) (87,547) 6,686,836 6,842,195 2010 2009 253,874 591,369 73,078 59,682 489,052 39,370 31,005 855,374 682,056 2010 163

13 (b) 2010 2009 5,976,135 6,105,394 1,087,663 1,072,698 2,628,129 2,794,011 9,691,927 9,972,103 2010 2009 2,657,895 2,668,355 49,373 247,777 42,442 38,271 2,749,710 2,954,403 (c) 2010 2009 4,354,299 4,169,731 648,109 627,617 5,002,408 4,797,348 164

14 (a) 2009 1 1 1,429,913 9,156,710 122,885 43,088 2,559,066 13,311,662 120,375 126,120 13,558,157 7,840 30,386 229,507 326,576 594,309 584 594,893 32(a) 1,800 1,800 1,800 (13,056) (158,321) (46,056) (217,433) (217,433) 32(b) (955) (39,462) (122,885) (4,906) (168,208) (168,208) 142,665 (142,665) (120,375) 120,375 2009 12 31 1,423,742 9,133,778 129,930 2,834,680 13,522,130 120,959 126,120 13,769,209 2009 1 1 856,047 6,003,539 34,547 2,167,801 9,061,934 46,095 9,108,029 32,106 573,816 1,925 285,576 893,423 5,034 2,079 900,536 32(a) 1,200 1,200 1,200 (13,056) (155,265) (45,860) (214,181) (214,181) 32(b) (918) (18,203) (36,472) (3,989) (59,582) (59,582) 2009 12 31 874,179 6,405,087 2,403,528 9,682,794 5,034 48,174 9,736,002 2009 12 31 549,563 2,728,691 129,930 431,152 3,839,336 115,925 77,946 4,033,207 66,911 66,911 3,906,247 115,925 77,946 4,100,118 2010 165

14 (a) 2010 1 1 1,423,742 9,133,778 129,930 2,834,680 13,522,130 120,959 126,120 13,769,209 10,261 40,553 703,686 335,051 1,089,551 5,236 1,093 1,095,880 (318,591) (266,047) (584,638) (2,020) (586,658) 87 43 130 130 (25,978) 341,080 (341,080) (25,978) 2,020 32,545 (8,587) 2010 12 31 1,408,025 9,196,907 492,536 2,903,727 14,001,195 7,256 154,597 115,513 14,278,561 2010 1 1 874,179 6,405,087 2,403,528 9,682,794 5,034 48,174 9,736,002 31,695 555,237 304,897 891,829 5,158 2,056 899,043 (318,436) (262,200) (580,636) (2,020) (582,656) 73 26 99 99 (16,523) (16,523) 2,020 20,638 (6,135) 2010 12 31 889,351 6,641,961 2,446,251 9,977,563 2,020 30,830 42,075 10,052,488 2010 12 31 518,674 2,554,946 492,536 457,476 4,023,632 5,236 123,767 73,438 4,226,073 50,221 50,221 4,073,853 5,236 123,767 73,438 4,276,294 (b) 2010 2009 1 112 31 201 201 1 112 31 201 201 12 31 166

14 (c) 2010 2009 462,614 478,884 258,501 264,550 721,115 743,434 518,674 549,563 73,438 77,946 123,767 115,925 5,236 721,115 743,434 (d) (e) 2010 12 31 790,900,000775,000,0002009432,000,000 2010 12 31 5,236,0002009 2010 12 31 2 3 2010 2009 13,315 10,436 5,236 12,746 18,551 23,182 2010 167

15 2010 2009 1 1 21,536 15,036 32(a) 1,000 1,000 5,500 12 31 22,536 21,536 16 16 2010 2009 1 1 75,802 75,372 32(a) 430 12 31 75,802 75,802 1 112 31 12,487 12,487 12 31 63,315 63,315 2010 2009 % % 3.0 2.0 8.1 8.7 168

16 17 2010 2009 1 1 2,030 2,030 23 12 31 2,053 2,030 1 1 1,658 1,252 205 406 19 171 12 31 2,053 1,658 12 31 372 18 20022012 19 (a) 2010 2009 1,188,423 1,188,423 (b) 2010 169

19 (c) KMB Resources Limited 1 1 403,639,413 1 100,000,000 1 2 1 10,000 1 120,000 1 10,000 1 1,000 1 20,000 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 170

19 (c) Lai Chi Kok Properties Investment Limited 1 1 100 100 LCK Real Estate Limited 1 1 100 100 LCK Commercial Properties Limited 1 1 100 100 KT Real Estate Limited 1 1 100 100 TM Properties Investment Limited 1 1 100 100 TIH Financial Services Limited 2 1 100 100 KMB Financial Services Limited 1 1 100 100 997,365,332 0.1 73 73 RoadShow Creations Limited 2 1 73 100 RoadShow Media Limited 2 1 73 100 2010 171

19 (c) RoadShow Productions Limited 2 1 Bus Power Limited 1 1 600,000 73 100 73 100 37.2 51 2010 12 31 473,282,000 2009 531,533,000 20 2010 2009 581,364 555,453 63,821 61,476 (4,922) (4,922) 640,263 612,007 172

20 166,600,000 31.4 31.4 951,430,306 35 35 2010 3,573,937 (1,944,990) 1,628,947 2,625,011 96,375 1,287,401 (706,037) 581,364 905,507 33,821 2009 3,025,850 (1,480,168) 1,545,682 2,541,619 87,017 1,093,632 (538,179) 555,453 890,675 29,568 21 2010 2009 3,019 9,267 38,925 148,925 97,218 69,884 15,882 12,167 442,717 55,283 38,501 38,022 636,262 333,548 2010 173

21 2010 2009 12 31 23,570,0002009 133,570,000 2010 12 31 110,000,00020099,801,0002010 12 31 2010 2009 12 31 5.31% 7.47% 2010 2009 12 31 A- AA+ 2010 2009 12 31 22 2010 12 31 147% 2009132% (a) 2010 2009 (2,700,389) (2,886,274) 3,973,271 3,816,704 (482,899) (214,437) 789,983 715,993 12 2011 (b) 2010 2009 2,955,833 2,774,886 894,688 862,291 122,750 179,527 3,973,271 3,816,704 174

22 (c) 2010 2009 1 1 2,886,274 3,443,631 (199,878) (168,950) 135,474 168,753 74,139 40,925 (195,620) (598,085) 12 31 2,700,389 2,886,274 (d) 2010 2009 1 1 3,816,704 3,110,517 (199,878) (168,950) 283,647 230,798 72,798 644,339 12 31 3,973,271 3,816,704 (e) 2010 2009 135,474 168,753 74,139 40,925 (283,647) (230,798) 44 60,562 (73,990) 39,442 356,445,0002009875,137,000 2010 175

22 (f) 2010 2009 % % 3.0 2.6 7.0 7.5 4.5 4.5 (g) 2010 2009 2008 2007 2006 3,973,271 3,816,704 3,110,517 4,782,207 3,864,006 (2,700,389) (2,886,274) (3,443,631) (2,755,991) (2,661,069) 1,272,882 930,430 (333,114) 2,026,216 1,202,937 85,373 125,284 (47,681) 84,445 41,439 72,798 644,339 (1,846,847) 866,572 302,284 23 2001 6 7 102011 6 6 20102009 12 31 176

24 2010 2009 242,408 236,159 409 143,571 14,156 9,378 24(b) (345) (4,529) 256,628 384,579 (a) 2010 2009 97,294 148,726 18,427 17,872 7,934 93,708 123,655 260,306 35(a) (b) 1(m)(i) 2010 2009 1 1 4,529 84,528 663 296 (731) (80,285) (4,116) (10) 12 31 345 4,529 2010 177

25 (a) 2010 2009 2010 2009 185,208 335,505 31,590 28,417 2,615,489 3,217,556 2,800,697 3,553,061 31,590 28,417 (73,921) (51,200) 2,726,776 3,501,861 31,590 28,417 (2,084,485) (2,827,447) (229) (2,760) 642,062 671,654 41,200,000 2009 51,200,000 4 2010 12 31 32,721,0002009 2010 179

25 (b) 2010 2009 930,726 799,798 (16,145) (8,680) (36,594) (37,232) 6,618 12,143 125 110,000 9,801 899,248 900,942 171 (492,397) (400) (1,287) (177) (33,821) (29,568) (3,021) (3,495) (2,386) 1,364,311 1,640,058 / (25,106) 9,580 10,344 (597) (10,433) 244,881 149,410 96,536 7,505 (12,886) ()/ (3,163) 36,387 (5,360) 61,018 (350) / 3,580 (15,142) (4,772) (31,845) (4,395) (4,241) (73,990) 39,442 1,407,931 2,062,841 180

26 2010 12 31 2010 2009 197,592 401,930 69,916 200,000 400,000 269,832 469,916 469,832 667,508 871,762 27 2010 2009 2010 2009 237,737 206,375 4 31,572 58,100 839,735 805,027 41,615 37,451 1,109,044 1,069,502 41,615 37,451 473 3,600 1,109,044 1,069,502 42,088 41,051 151,00020091,809,0002010 2009 12 31 2010 2009 202,101 188,291 33,120 16,686 2,516 1,398 237,737 206,375 2010 181

28 2010 2009 1 1 432,609 479,596 39,466 12,862 (40,658) (59,849) 12 31 431,417 432,609 131,122 127,542 300,295 305,067 431,417 432,609 29 (a) 2010 2009 71,902 138,813 (75,473) (99,955) (3,571) 38,858 (70) (23) (3,641) 38,835 260 401 (3,381) 39,236 (15,781) (7,868) 12,400 47,104 (3,381) 39,236 182

29 (b) 2009 1 1 558,226 (46,241) (43,155) 42,379 11,628 522,837 32(b) (15,442) 7,413 (8,029) (29,636) 9,061 3,910 (502) (4,508) (21,675) 2009 12 31 513,148 (37,180) (31,832) 41,877 7,120 493,133 2010 1 1 513,148 (37,180) (31,832) 41,877 7,120 493,133 3,837 (4,491) 4,694 (50) (3,722) 268 2010 12 31 516,985 (41,671) (27,138) 41,827 3,398 493,401 2010 2009 (6,055) (6,013) 499,456 499,146 493,401 493,133 (c) 177,007,0002009170,463,000 29,385,000200928,307,000 2,107,00020092,127,000 2010 183

30 2010 2009 1 1 34,280 38,521 5(a) 5,593 2,887 (9,988) (7,128) 12 31 29,885 34,280 31 (a) 2009 1 1 403,639 1,300,000 77,825 1,781,464 2009 12(b) (423,821) (423,821) 471,167 471,167 12(a) (121,092) (121,092) 2009 12 31 403,639 1,300,000 4,079 1,707,718 2010 1 1 403,639 1,300,000 4,079 1,707,718 2010 12(b) (827,460) (827,460) 951,526 951,526 12(a) (121,092) (121,092) 2010 12 31 403,639 1,300,000 7,053 1,710,692 184

31 (a) 2010 12 31 1,307,053,0002009 1,304,079,000 1.052009 1.05 1.00 423,821,0002009423,821,000403,639,000 (b) 2010 2009 600,000,000 1 600,000 600,000 403,639,413 1 403,639 403,639 (c) (i) 1(w) (ii) 1(h) (iii) 1(f) (d) 2010 185

31 (d) 20102009 12 31 2010 2009 2010 2009 25(a) 2,726,776 3,501,861 31,590 28,417 25(a) 73,921 51,200 26 (667,508) (871,762) 2,133,189 2,681,299 31,590 28,417 6,945,348 7,017,700 1,710,692 1,707,718 32 (a) 2009 1 82,030,000 2009 12 31 600 1,000 1,600 16 430 2,030 186

32 (b) 2009 5 21Sun Hung Kai Transport Company LimitedSHKTC 110,626,000 2009 5 31 2009 6 1 108,626 4,461 12,631 1,670 3,986 (12,719) (8,029) 110,626 110,626 110,626 (3,986) 106,640 SHKTC 36(a) 33 (a) 2010 12 31 2010 2009 530,314 767,739 111,006 173,000 641,320 940,739 2010 187

34 2010 12 31 140,000,000 2009 340,000,000 70,000,0002009270,000,000 27 35 (a) 30 90 21 24 2010 189

35 (b) 2010 2009 1 1 2 2 5 1 1 2 2 5 205,120 74,575 403,592 683,287 667,279 404,228 202,636 273,307 880,171 869,002 1,109,044 1,109,044 1,109,044 1,069,502 1,069,502 1,069,502 229 229 229 2,760 2,760 2,760 1,314,393 74,575 403,592 1,792,560 1,776,552 1,476,490 202,636 273,307 1,952,433 1,941,264 2010 2009 1 1 2 2 5 1 1 2 2 5 7,357,759 7,357,759 7,357,759 6,788,653 6,788,653 6,788,653 41,615 41,615 41,615 37,451 37,451 37,451 7,399,374 7,399,374 7,399,374 6,826,104 6,826,104 6,826,104 34 70,000 70,000 473 270,000 270,000 3,600 190

35 (c) 20102009 12 31 (i) 2010 2009 % % 0.7 2,615,489 0.5 3,217,556 5.3 97,218 5.8 69,884 3.7 481,218 3.3 93,305 3,193,925 3,380,745 0.1 75,898 0.3 65,955 5.0 3,428 5.0 10,159 5.0 (229) 5.0 (2,760) 0.9 (667,279) 0.7 (869,002) (588,182) (795,648) (ii) 2010 12 31 100 4,786,00020096,535,000 13,662,00020092,824,000 2009 2010 191

35 (d) 56% 2009 27% 2010 2009 12 31 20102009 12 31 (i) 2010 2009 4,112 20,963 194,191 21,515 309,614 (52,516) (3,168) (18,860) (5,165) 442,519 55,283 15,882 12,167 27,064 70,154 69,884 31,176 (31,553) 719,578 2,655 441,783 2010 12 31 123,734,000 145,882,0002009 124,557,000 141,460,000 192

35 (d) (ii) 2010 2009 3% 5,319 3% 4,245 (3%) (5,319) (3%) (4,245) 4% (916) 11% 634 (4%) 916 (11%) (634) 1% 2,776 4,425 1% 3,874 553 (1%) (2,776) (4,425) (1%) (3,874) (553) 2009 (e) 2010 193

35 (f) 20102009 12 31 (g) (i) 7 2010 442,717 442,717 38,501 38,501 442,717 38,501 481,218 2009 55,283 55,283 38,022 38,022 55,283 38,022 93,305 194

35 (g) (ii) 20102009 12 31 (1) (2) 38,925,0002009148,925,000 (h) (i) (ii) (iii) 2010 195

36 (a) 2010 2009 (i) 36,612 32,568 (ii) 67,869 63,094 (iii) (iv) (127) 1,899 (v) 4,659 5,323 (vi) (vii) 2,730 32(b) 110,626 (viii) (ix) (x) 15,000 (x) 396 327 (xi) 489,052 (xii) 2,920 (i) (ii) (iii) (iv) (v) 2010 12 31 10,067,00020096,826,000 2010 2010 67,869,000 (2009 4,704,000 ) 2010 12 31 25,0002009 22,000 Lai Chi Kok Properties Investment Limited2003 CFCCL CFCCL 2004 CFCCL CFCCL 1,617,743,000 2010 12 31101,845,0002009106,623,000 2003 7 17 2007 8 15 65,000,000 2010 12 31 3,605,0002009 3,732,000 2003 2007 2010 12 3120091,078,000 196

36 (a) (vi) (vii) 15,000,0001% 20,000,000 2010 12 31 3,800,00020093,800,000 2001 5 23 Sun Hung Kai (Ma Wan) Transport Company LimitedSHKMW 2009 12 13 2002 12 42003 8 12004 2 292005 12 62006 11 282007 12 62008 11 25 6% 15% 2009 5 21 Sun Hung Kai Transport Company Limited 110,626,000 2009 5 31 2009 6 1 2009 12 31 SHKMW (viii) (ix) (x) (xi) 2008 4 16 LCK Commercial Properties LimitedLCKCP CFCCL CFCCL CFCCL 37,400,000 2010 12 314,229,0002009 4,390,000 2008 4 16LCKCP SHKAE SHKAE 2,670,000SHKAE2010 12 31 2009370,000 2009 3 6 KMB Financial Services LimitedKMBFS 15,000,000 Sun Hung Kai Properties (Capital Market) LimitedSHKPCM 15,000,000 2.65% SHKPCM 2012 2 12 KMBFS 2010 12 31 KMBFS 15,282,000200915,251,000 2010 1 21 Turbo Result Limited TRL 50% 490,000,000 2010 1 25 489,052,000 TRL TRL 14(d)2010 12 31 33(a) (xii) 2010 4 26 KT Real Estate LimitedKTRE TRLKTRE TRL (1) 20,000,000 (2)(a) 1% (b) 25,000,000 (1) 3.2 (2)3,840,000 2010 12 31 2010 197

36 (b) 7 37 12(a) 38 16 22(f) 35(h) (a) 28 (b) (c) (d) 198

38 (e) 2010 12 31 29(b) 39 2010 12 31 2010 12 31 24 9 2010 12 2011 1 1 2013 1 1 2010 7 1 2011 1 1 2012 1 1 2010 199

12 31 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 6,687 6,842 7,353 12,013 8,705 6,456 6,544 6,540 6,843 6,862 931 800 694 4,074 2,002 691 913 857 1,142 1,810 (75) (118) (18) (206) (133) (96) (169) (259) (175) (237) 856 682 676 3,868 1,869 595 744 598 967 1,573 11 (9) (18) (21) (31) (11) (13) (1) (28) (34) 867 673 658 3,847 1,838 584 731 597 939 1,539 4,276 4,100 4,466 4,981 5,463 5,720 6,119 6,491 6,497 6,047 23 22 15 14 8 63 63 63 52 49 33 30 50 53 21 1 1 1 96 115 61 44 19 29 38 48 63 470 105 101 640 612 834 911 834 776 330 162 61 1 20 23 23 16 5 1 2 6 636 334 136 138 46 34 15 15 15 15 790 716 755 602 537 485 414 339 278 1,763 2,455 2,083 3,224 1,426 184 253 548 465 854 8,235 8,321 8,402 9,984 8,435 7,407 7,751 7,772 7,472 6,944 404 404 404 404 404 404 404 404 404 404 6,334 6,385 6,257 7,145 4,670 3,628 3,847 3,935 4,157 3,776 6,738 6,789 6,661 7,549 5,074 4,032 4,251 4,339 4,561 4,180 205 229 253 249 245 269 289 260 244 228 6,943 7,018 6,914 7,798 5,319 4,301 4,540 4,599 4,805 4,408 300 305 337 295 271 52 59 106 117 202 470 470 590 1,155 2,052 2,218 2,298 2,218 1,830 1,743 522 528 561 736 793 836 854 849 720 591 8,235 8,321 8,402 9,984 8,435 7,407 7,751 7,772 7,472 6,944 2.15 1.67 1.63 9.53 4.55 1.45 1.81 1.48 2.33 3.81 1.35 2.35 1.35 5.53 2.03 2.03 2.03 2.03 2.03 1.86 24.01 24.71 25.49 29.57 29.98 23.78 23.32 23.44 22.70 21.68 17.20 17.39 17.13 19.32 13.18 10.65 11.25 11.39 11.90 10.92 (1) 2005 2005 1 1 2004 2010 (2) 34 19 12 122002 2001 200

* GBM, GBE, PhD, FREng * GBS, LLD, BA s MA(Cantab), MBA, Hon DBA, Hon LLD s D.Sc., MSc(Lond), DIC, MICE s s BSc(Econ) s GBS, DBA(Hon), DSocSc(Hon), BA, DipMS, CCMI, FCILT, FHKIoD M.H., BEc, AASA, FCILT s BA, MBA(Chicago), MPA(Harvard), FCIM, CMILT, MHKIoD s s MSc(Lond), BSc(Eng), DIC, FICE, CEng, PEng, FITE * GBS, OBE, LLD, DSocSc, BA, FCPA(Practising), FCA, FCPA(Aust.), FCIS MA(Cantab), MBA, FCILT, MHKIoD * GBS, CBE, MSS(Birmingham, UK) s SBS, OBE, MPA(Harvard), BA(Lond) BA, MBA s s # # # # MBA, BA, AAT, CGA, ACIS, MIFC, CFC Clarendon House, 2 Church Street Hamilton HM11, Bermuda (852) 2786 8888 (852) 2745 0300 www.tih.hk director@tih.hk 10 8 183 17 Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre 11 Bermudiana Road Pembroke, HM 08 Bermuda 2011 5 122011 5 19 0.30 2010 10 18 1.05 2011 5 24 62 62HK 0062.HK (852) 2745 4466 (852) 2745 0600 (852) 2261 2791 (852) 2371 2666 * s # www.tih.hk

9 (852) 2786 8888 (852) 2745 0300 www.tih.hk 62 YELLOW CREATIVE (HK) LIMITED FSC Forest Stewardship Council