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2006 388

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AMS/3 2007 2002 400 50 2010 3 2007 2 28 * 469 872 425 818 44 54 49 49 518 921 1.78 * 135 164 135 164 0 0 59 61 194 225 1.16 * 50

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H 2006 2006706,0102006 10 2006 3 31H 3.52.5 2007 2006 2 10 H 2006 7 3 53

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CEPA 2006 2005 12,718,380 119,836 9,910,565 98,211 2,140,242 5,974 1,501,342 3,081 H 4,880,470 59,345 1,978,673 35,125 25 (1) 8,154 107 2,882 48 102,010 4,260 13,069 1,750 155 0 246 5 13,888 1,532 24,935 1,472 0 0 1,250 0 19,863,299 191,054 13,433,386 (2) 139,692 4,095,679 227,946 3,071,822 192,069 53,456 781 30,595 555 H 758,247 74,903 257,425 32,599 25 (1) 7,881 358 7,386 431 18,127,353 2,533,807 8,722,393 1,021,913 23,042,616 2,837,795 12,089,621 1,247,567 42,905,915 3,028,849 25,523,007 1,387,259 1 2005 5 23 2 424 2005 3 21 CCASS 2006 1 1 2007 6 30 CCASS 2006 1 3 2007 1 2 CCASS 55

2006 9 4 CCASS DCASS CCASS 2006 3(CCASS CCASS 2006 6 5 2007 1 2 2007 2006 1 3 50% 2006 10 1531 8.482006 12 31 1,000 56

2006 11 20 2006 2006 2005 431 435 1 1 37 37 6 7 CCASS 2006 2005 CCASS 259,417 149,618 339 183 384 234 CCASS 36,259 25,354 871 462 217 141 CCASS 586 349 2.202 1.000 7,720 7,070 T+2 99.72% 99.78% T+3 99.97% 99.98% T+3 12 8 13 8 660 270 CCASS 16,576 13,099 58.79% 55.55% 57,549 30,269 40.23% 34.60% 57

180 2006 6 2006 8 780 2006 5 CCASS 2006 12 2006 7 8 CCASS 2006 ( ) 58

3 28 70 5 12 KCC Conference 38 5 18 Anhui Conference 40 6 13 HKEx Deloitte Conference 67 6 14 Seminar on Hong Kong Listing 220 7 17 80 8 11 FHKI Seminar 60 9 15 HKEx (Hunan) Conference 150 10 10 HKEx Joint Chambers Seminar 120-12 13 HKEx Kazakhstan Conference 113 3 8 2006 21% 3.91 200675200569 37 200535 4902005490 59

2006 50%2008 6 80 2006 6030 15 2007 4 2 5,0002008 1 1 2006 9 20067,8102005 16% 21% 3,162 100% 60

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2006 12 31 4 2005 12 313 2006 12 31296 2005 12 31 189 > > > > 2006 2005 2006 2005 2006 2005 2006 2005 2006 2005 2006 2005 5.5 3.9 24% 14% 16% 23% 30% 23% 20% 24% 10% 16% 21.8 13.6 32% 56% 22% 19% 46% 17% 0% 8% 0% 0% 2.3 1.4 86% 77% 0% 7% 14% 9% 0% 7% 0% 0% 29.6 18.9 35% 49% 19% 19% 40% 18% 4% 11% 2% 3% 2006 12 31 Aa2 2005 Aa20.720051.3 Value-at-RiskVaR VaR 95% 10 VaR 2006 2005 VaR VaR VaR 2006 2005 2006 2005 2006 2005 14.0 13.5 15.9 16.1 12.3 11.2 7.8 14.4 9.4 17.9 4.1 9.8 0.4 1.0 0.6 1.5 0.2 0.6 7 CHIS 2006 12 31CHIS 30% CHIS5,2002005 5,200 6,800 20056,300 ADP Wilco Processing Services Limited AWPS 2002 5180AWPS 30%2006 3130 AWPS 2006 7 63

2004 2006 H A H AMS 3 AMS 3 AMS 3 AMS 3 AMS 3 H 25 HKATS H 25 (no-action relief) FOW DCASS 24 CCASS CCASS CCASS CCASS CCASS CCASS IIS CCASS 3 CCASS 3 HKATS DCASS HKATS DCASS PRS CCASS 3 MDFSDNet AMS 3 AMS 3 HKATS DCASS PRS 2005 1998 AMS 3 AMS 3 AMS 3 AMS 3 MIS 64

2007 A AMS 3 AMS 3 H H CCASS CCASS IIS AMS 3 SDNet AMS 3 CCASS 3 HKATS DCASS 19.x 65

2006 339 * 2,823 * 56 6 2006 12 31 975 2006 12 31 198 5,160 * 85 5,245 * * 2006 2005 6 370,246 64,581 7 15,027,401 2,799,178 1,359,133 8 3,310,377 22,930,916 9 14,400,332 82,700 10 4,110,413 18,593,445 4,337,471 1,911,695 11 (30,028) 1,776,254 679,550 } 2,455,804 4,337,471 1,822,011 661,305 1,269,840 393,760 4,146,916 570,324 158,201 420,779 61,269 1,210,573 1 1,251,687 2 503,104 3 849,061 4 332,491 2,936,343 1 27,123 5 27,124 12 2,865,468 11 (21,269) (60,269) (1,671,151) (535,585) 278,930 856,124 2006 1 1 1,359,133 2006 12 31 2,215,257 1,251,688 503,104 876,184 332,491 2,963,467 (444,898) 2,518,569 100,318 * 73,390 * * 2006 2006 6 323,584 68,377 7 23,977,540 3,641,853 2,215,257 8 10,226,687 40,453,298 9 23,308,969 81,450 10 11,805,293 35,195,712 5,257,586 1,982,340 11 (51,297) 2,060,156 1,266,387 5,257,586 66

2006 1 1 1,213,160 34,980 (37,086) 700,641 1,911,695 30,895 30,895 24,033 24,033 47,203 47,203 415 415 441 37 478 (32,379) (32,379) 7,335 (7,335) 2006 12 31 1,251,390 52,119 10,569 668,262 1,982,340 2006 2006 1 6.24 2 2.09 3 4.8 4 7,400 5 2005 6% 6 4,700 7 216.662005136.49 22.71 2005 13.40 4,100 2005 3,800 8 95.86 2005 28.90 2,518,569 (1,680,895) 686 32,379 870,739 2006 1 1 2,455,804 2006 12 31 3,326,543 9 216.66 2005 136.49 16.43 2005 7.52 7 10 95.88 2005 28.90 11 2,100 12 14.36 2,060,156 1,266,387 3,326,543 67

2006 2005 2,390,846 1,437,218 465,445 413,000 391,213 322,713 601,080 300,120 298,332 221,017 4,146,916 2,694,068 1,210,573 1,145,483 2,936,343 1,548,585 27,124 18,433 2,963,467 1,567,018 (444,898) (227,460) 2,518,569 1,339,558 2.37 1.26 2.34 1.26 0.94 0.49 1.19 0.64 2.13 1.13 90% 90% 2006 2005 5,257,586 4,337,471 ø * 40,453,298 22,930,916 ø # 4.94 4.09 ø ø HKFRS3,0003,000 0.02 * # 2006 12 311,064,190,346 1,065,448,3461,258,000 20051,061,796,846 1,062,754,846 958,000 20062006 12 31 2005 13.40 25.19 88% 68

2006 6% HKFRSs 2006 12 31HKFRSs 7.2% (2.98) 8.2% (2.21) 14.5% (6.01) 32.3% (13.4) 11.1% (3) 29.4% (7.93) 9.4% (3.91) 2006 12.0% (3.23) 2005 11.2% (4.66) 9.7% (2.6) 15.3% (4.13) 9.1% (3.76) 16.3% (6.75) 14.3% (3.84) = 41.47 = 26.94 69

(A) 2006 2005 1,340,355 793,247 69% 674,373 384,019 76% 376,118 259,952 45% 2,390,846 1,437,218 66% 2006 2005 339 183 85% 100,318 68,157 47% 73,390 35,385 107% 1,200 1,000 800 600 400 200 0 969 2006 33.9 529 18.3 2005 35 30 25 20 15 10 5 0 H 2006 H 500 400 300 200 100 100,318 371 73,390 35,385 68,157 264 120,000 100,000 80,000 60,000 40,000 20,000 2006 0 2006 2005 0 70

2006 2006 1 12005 4,100 (B) 2006 2005 274,586 263,945 4% 184,601 142,075 30% 6,258 6,980 (10%) 465,445 413,000 13% 2006 2005 12 31 12 31 975 934 4% 198 201 (1%) 1,173 1,135 3% 71

2006 2005 2,823 1,682 68% 83 56 57 (2%) 6 10 (40%) 93 85 9% 3,061 1,834 67% 2006 2005 516.0 298.7 73% 8.5 3.0 183% 524.5 301.7 74% 300 275 264 1,500 250 1,250 200 150 100 1,173 1,135 1,000 750 500 50 250 0 2006 2005 0 250 200 150 100 50 3,061 185 1,834 142 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2006 2005 0 72

(C) 2006 2005 391,213 322,713 21% (D) 2006 2005 1,043,750 426,380 145% (442,670) (126,260) 251% 601,080 300,120 100% 700 600 500 400 300 306 247 601 300 2006 2006 200 100 0 119 150 48 31 2006 2005 30.0 25.0 = 25.6 2.0 20.0 15.0 18.8 = 17.6 1.5 10.0 5.0 0.0 4.8 2006 12.1 4.0 2005 73

8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 6.52% 3.03% 3.49% 2.21% 3.84% 2.58% 4.08% 2.43% 2006 1.00% 0.00% 2006 2005 2006 2005 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 6.42% 3.00% 2.39% 2.02% 2.35% 1.71% 1.31% 1.24% 2005 6 1 2006 2006 2005 6 1 2006 2006 2005 2006 74

(E) 2006 2005 180,372 129,733 39% 33,927 34,351 (1%) 57,066 34,123 67% 9,162 1,600 4,400 (64%) 3,164 2,154 47% 13,041 16,256 (20%) 298,332 221,017 35% AMS/3 2006 2005 6 1 2005 2006 8.2% (9,900) 8.9% (1.02) 8.2% (1) 0.7% (800) 0.9% (1,100) 13.2% (1.51) 1.2% (1,300) 9.8% (1.19) 2006 54.1% (6.55) 0.9% (1,000) 2005 51.2% (5.86) 7.0% (8,100) 18.1% (2.18) 17.6% (2.02) = 12.10 = 11.45 75

2006 2005 654,806 586,034 12% 218,608 201,725 8% 119,167 80,679 48% 11,270 10,065 12% 7,996 13,641 (41%) 99,888 150,995 (34%) 98,838 102,344 (3%) 1,210,573 1,145,483 6% 6,9002006 8,50020055,500 1.3320051.47 AMS/3 2005 2006 2005 27,124 18,433 47% CHIS 2005 5 CHIS 6% 76

2006 2005 444,898 227,460 96% 2006 2006 2006 2006 2006 854,127 1,041,121 948,435 1,303,233 4,146,916 292,527 303,961 297,163 316,922 1,210,573 561,600 737,160 651,272 986,311 2,936,343 3,220 6,032 6,734 11,138 27,124 564,820 743,192 658,006 997,449 2,963,467 (85,981) (113,720) (92,288) (152,909) (444,898) 478,839 629,472 565,718 844,540 2,518,569 2005 2005 2005 2005 2005 245,421 325,375 389,120 379,642 1,339,558 900 800 700 600 500 400 300 200 100 0 845 44.7 31.2 629 34.1 566 26.3 479 389 380 18.4 325 20.6 18.7 246 15.4 2006 2005 2006 2005 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 2006 2005 2006 77

1,400 1,200 1,000 800 600 400 200 0 297 2006 = 10.41 71 = 8.54 104 53 98 113 85 178 41 155 162 63 174 91 74 140 110 104 116 111 210 117 83 218 136 324 291 428 = 9.49 = 13.03 2006 2006 2006 2006 2006 31.2 34.1 26.3 44.7 33.9 87,755 107,681 95,911 110,661 100,318 61,863 65,038 66,836 100,169 73,390 546 566 716 995 2,823 12 10 10 24 56 3 1 1 1 6 2006 400 350 300 250 200 150 = 2.92 35 25 27 = 3.04 = 2.97 36 29 25 25 31 31 46 47 54 = 3.17 18 25 30 71 100 50 0 159 165 158 173 * 78 *

(A) 2006 12 312005 12 314,800 8,900 6,200 1.52005 2.12 2,700 2006 1,100 3,800 2005 2,700 2006 12 319,200 20051.37 (B) 2006 2005 2,270,531 1,340,410 69% 21,666,474 13,648,581 59% 5,897,645 4,196,721 41% 29,834,650 19,185,712 56% 2006 79

(C) (D) 2006 2005 9,586,161 2,889,804 232% 408,321 203,933 100% 211,759 197,427 7% (4,679) (4,329) 8% 10,201,562 3,286,835 210% 9,588,374 2,889,524 232% 802,261 190,594 321% 268,236 75,899 253% 448,329 485,054 (8%) 11,107,200 3,641,071 205% 20062006 2005 (E) 2006 12 31 9.2152.58200543.37 8.39 4,8003,400 20065,500 2,100 80

2005 31% 2006 48% 6,000 5,000 4,000 3,000 2,000 1,000 5,258 48% 4,337 31% 60% 50% 40% 30% 20% 10% 2006 0 2006 2005 0% 2006 12 31 9.14(27%) 42.71200533.57 25.19 1,000 6,6002005 6.81 2006 10 2006 12 31 15.58200516.0815 200515 2006 12 312005 12 31 2006 12 31 97% 2005 99% 2006 12 31 2005 12 31 48(a)(i) 42 81

Ω 2006 2005 2004 2003 2002 2001 2000 33.9 18.3 16.0 10.4 6.7 8.2 12.7 100,318 68,157 56,752 41,889 30,038 27,192 22,118 73,390 35,385 22,720 17,122 15,203 16,567 16,958 4,147 2,694 2,394 2,020 1,808 1,998 2,312 1,210 1,145 1,156 1,224 1,165 1,179 1,331 2,937 1,549 1,238 796 643 819 981 27 18 13 9 5 2,964 1,567 1,251 805 648 819 981 (445) (227) (194) (112) (59) (85) (98) 2,519 1,340 1,057 693 589 734 883 2.13 1.13 0.90 0.60 0.51 0.33 0.33 1.68 2.13 1.13 0.90 2.28 0.51 0.33 0.33 2.37 1.26 1.00 0.66 0.56 0.71 0.85 2,766 1,875 2,423 2,690 1,886 1,803 2,199 37,687 21,055 19,020 17,118 12,147 11,927 11,948 (33,415) (17,698) (15,955) (13,048) (7,939) (7,888) (8,672) 4,272 3,357 3,065 4,070 4,208 4,039 3,276 7,038 5,232 5,488 6,760 6,094 5,842 5,475 (1,780) (895) (1,456) (1,146) (600) (620) (620) 5,258 4,337 4,032 5,614 5,494 5,222 4,855 ^ 4.94 4.09 3.82 5.35 5.26 5.02 4.67 @ 90% 90% 90% 91% 91% 46% 39% * 29% 42% 48% 60% 64% 59% 58% # 48% 31% 26% 12% 11% 14% 18% 1.1 1.2 1.2 1.3 1.5 1.5 1.4 Ω ^ @ * # HKAS 272005 12 31 12 31 82

4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2000 2001 2002 2003 2004 2005 2006 20002002 2003 2006 2006 2.50 2.00 1.50 1.00 0.50 0.00 2000 2001 2002 2003 2004 2005 2006 2006 2002 90% 40,000 1.80 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2000 2001 2002 2003 2004 2005 2006 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 T+2 2006 12 31 6.00 60% 5.00 4.00 3.00 2.00 1.00 0.00 2000 2001 2002 2003 2004 2005 2006 50% 40% 30% 20% 10% 0% 20042004 5 1.68 2004 2004 5 83

6 6 ( + 3 + ) (5) (4 + 1 ) (5) (5) (5) ( + 2 + 5) 84

90 77 - - + + 6 6 1 85

2006 David M Webb2006 2006 4 262009 2006 2006 4 26 2006 2006 4 26 2008 2006 4 272006 4 28 2006 12 13 2007 5 1 2009 4 302006 12 14 86

2006 9 2007 2 9 2007 2 14 2007 2 16 2007 2 14 20072007 3 8 2007 2007 87

89 5% 26 2006 88

2006 2006 2006 14 18 5 4 2 1 5 11 1 1 10/10 10/10 1/1 7/7 2 4/4 8/8 1/1 4/4 1/1 3, 8 9/10 3/3 1/1 3, 4 9/10 3/3 2/4 5 6/14 3/5 2/5 1/1 6 13/14 1/2 3/3 10/11 1/1 4, 7, 8 12/14 9/10 5/5 2/2 1/1 4/4 11/11 1/1 2 2/4 1/1 1/1 8 14/14 18/18 1/1 11/11 1/1 2, 4, 8 4/4 8/8 0/0 1/1 1/1 4, 7, 8 13/14 10/10 5/5 2/2 1/1 4/4 1/1 2, 4 3/4 1/1 1/1 3, 4 9/10 4/4 13/14 5/5 1/1 David M Webb 14/14 4/4 2/2 1/1 8 12/14 4/4 2/2 1/1 1/1 14/14 18/18 1/1 7 8/8 11/11 9 10/11 10 5/5 3/4 10 6/6 9 0/0 11/11 88% 99% 88% 95% 100% 100% 78% 98% 100% 1. 2006 4 262006 4 28 65 2006 4 27 2. 2006 3. 2006 4 262006 4 27 4. 2006 4 27 2006 4 26 5. 6. 2006 4 27 7. 2006 4 27 8. 2006 4 12 2006 4 27 2006 9. 2006 1 19 2006 1 20 2006 10. 2006 8 28 89

10 8 2006 2006 12 31 102 110 2006 12 31 3 2 45 90

2006 100 2006 12 31 2005 12 31 2006 2005 2,323,600 2,000,025 442,002 1,190,193 * 300,000 7,200 1,950 * 91

2005 2006 2003 2006 2006 2005 12 31 2005 12 31 0.64 David M Webb 10% 240,000 2006 214 2006 111 2006/2007 (Investor Perception Study (Asia 2006/2007)) IR Magazine 2006 92

2006 93

2005 77 2006 GovernanceMetrics International Inc 2006 12 7.5 (2005 6.5) 10.0 (20059.5)10.0 (FTSE4Good Index Series) (FTSE4Good Policy Committee) 20062006 11 2005 2006 2006 11 2005 2006 11 94

2006 12 31 352 3,280,000 3,280,000 0.31 1 1,927,500 1,927,500 0.18 2 18,000 18,000 0.00 3 David M Webb 2 2 6 10 0.00 4 5 6 1. 820,000 2003 5 2 2,460,0002005 5 2 2013 5 1 8.28 2004 2. 1,927,500Pacific Trust Company Limited 33.33% 3. 4. David M Webb 5. David M Webb 6. David M Webb Fundamental Consultants Limited Member One Limited Member Two Limited XV 352 2006 12 31 18 2006 95

2006 12 31 1,476,000 10,000 350,000 41,677 700,000 278,000 25,253 654,000 220,000 29,461 180,000 23,507 822,000 164,000 33,567 547,000 190,000 200,000 32,952 2006 12 31 (A) 2006 12 31 i ii (1) 50% (2) (3) 2006 4 26 (4) 52005 4 12 96

(B) 2006 12 31 (1) (2) (3) 2006 4 26 (C) 2006 12 31 (1) 50%2006 4 26 2006 12 31 348,891.46 347,980.76 910.70 (2) 2006 12 31 12,141,900.98 12,126,472.15 15,428.83 (3) 2006 4 26 2006 12 31 5,313,077.835,299,583.00 13,494.83 (4) 2006 12 31 8,048,666.428,037,871.41 10,795.01 97

(5) 2005 4 12 2006 1 1 2006 4 12 343,564.30 342,632.30 932.00 (D) 2005 2 16 3 5 501-3 11 1101 1109-112005 1 1 310,440 49.2% 2006 5 24 2006 4 26 2004 12 14 2006 12 31 5,101,013.68 CP SH LimitedCP SH 2006 4 26 CP SH 3CP SH 2006 12 31 2006 12 13CP SH 2007 1 1 745,056 CP SH49.2% 2006 12 13 1992 98

(a) (b) (c) (d) (a) (b) (c) 2004 12 14 45 2007 3 8 99

5 2006 4 2006 5 892006 2005 2006 2005 12 31 2006 6 30 2006 3 31 2006 9 30 2006 2006 96 99 100

2007 1 192006 2006 2006 2007 3 1 2006 2006 12 31 2006 2006 2007 3 8 101

2006 2006 89 2006 2006/2007 240,0002005 20052006 2007 240,000450,000300,000 50,000 2007 102

2006 2 9 2006/2007 2006/20074%2% 2% 3.3 2006 19,673,160 2006 67% 21% 12% 75% 25% 82% 18% 103

2006 2006 240,000 20062007 2006 2005 2006 4 26 180,000 2006 4 26 60,000 205,000 2006 4 26 180,000 2006 4 26 180,000 2005 4 12 240,000 180,000 240,000 205,000 240,000 205,000 2006 4 26 60,000 205,000 240,000 205,000 2006 4 26 60,000 205,000 240,000 205,000 2005 4 12 25,000 2006 4 26 60,000 205,000 2006 4 26 180,000 240,000 205,000 David M Webb 240,000 205,000 240,000 205,000 2,880,000 2,460,000 2006 2005 1 2 3 3 7,344,000 2,754,000 58,540 918,000 11,074,540 9,361,576 1,197,639 11,866 2006 2005 1 2 3 3 4 5,514,600 2,297,750 118,914 689,326 8,620,590 6,986,948 1,083,845 3,794,400 1,422,900 71,538 474,300 5,763,138 4,903,035 506,906 359,004 3,672,000 1,009,800 80,747 459,000 5,221,547 5,279,613 248,164 214,051 3,574,080 1,206,260 64,143 446,760 5,291,243 4,522,844 248,164 250,308 2,448,000 795,600 29,349 306,000 3,578,949 2,987,106 202,742 202,432 3,794,400 1,280,610 70,441 474,300 5,619,751 4,851,646 1,246,543 5,517 3,060,000 1,071,000 64,172 382,500 4,577,672 3,851,549 199,818 288,502 5 3,978,000 1,491,750 113,224 497,250 6,080,224 5,391,575 772,677 12,856 3,000,000 1,125,000 61,809 375,000 4,561,809 3,721,208 227,110 283,843 104

1. 2. 18%18% 100% 3. 2007 1 152006 12 13 106 2006 12 31 HKFRS 2 4. 2007 2 9 20062007 1 1,378,650 HKFRS2 2006 5. 4(3) 2006 2006 1 1 12 31 2003 5 2 8.28 2,460,000 2,460,000 2005 5 2 2013 5 1 1 2003 8 18 12.49 1,476,000 1,476,000 2005 8 182013 8 17 2004 5 17 15.91 200,000 50,000 150,000 2006 5 172014 5 16 2005 1 26 19.25 200,000 200,000 2007 1 262015 1 25 2000 6 20 6.88 258,000 200,000 58,000 2002 3 6 2010 5 30 2004 3 31 16.96 120,000 120,000 2006 3 31 2014 3 30 2005 1 26 19.25 100,000 100,000 2007 1 26 2015 1 25 2004 3 31 16.96 120,000 120,000 2006 3 31 2014 3 30 2005 1 26 19.25 100,000 100,000 2007 1 26 2015 1 25 2004 3 31 16.96 100,000 100,000 2006 3 31 2014 3 30 2005 1 26 19.25 80,000 80,000 2007 1 26 2015 1 25 2004 1 15 17.30 1,094,000 272,000 822,000 2006 1 15 2014 1 14 2005 1 26 19.25 164,000 164,000 2007 1 26 2015 1 25 2003 8 14 12.45 844,000 297,000 547,000 2005 8 14 2013 8 13 2004 3 31 16.96 100,000 100,000 2006 3 31 2014 3 30 2005 1 26 19.25 100,000 100,000 2007 1 26 2015 1 25 105

2006 2006 1 1 12 31 2 3 2007 1 15 11,528 72.28 2008 12 13 2011 12 13 2005 12 19 40,600 31.20 40,600 1,077 41,677 2007 12 19 2010 12 19 2007 1 15 11,911 72.28 2008 12 13 2011 12 13 2005 12 19 24,600 31.20 24,600 653 25,253 2007 12 19 2010 12 19 2007 1 15 3,842 72.28 2008 12 13 2011 12 13 2005 12 19 28,700 31.20 28,700 761 29,461 2007 12 19 2010 12 19 2007 1 15 5,048 72.28 2008 12 13 2011 12 13 2005 12 19 22,900 31.20 22,900 607 23,507 2007 12 19 2010 12 19 2007 1 15 6,660 72.28 2008 12 13 2011 12 13 2007 1 15 5,360 72.28 2008 12 13 2011 12 13 2005 12 19 32,700 31.20 32,700 867 33,567 2007 12 19 2010 12 19 2007 1 15 8,965 72.28 2008 12 13 2011 12 13 2007 1 15 12,490 72.28 2008 12 13 2011 12 13 2005 12 19 32,100 31.20 32,100 852 32,952 2007 12 19 2010 12 19 2007 1 15 9,417 72.28 2008 12 13 2011 12 13 1. 2007 1 3492,000 984,000 2. 2006 8 162006 8 16 2006 12 132007 1 15 3. 25% 2005 9 2000 5 3110 2010 5 302002 4 17 2001 9 1 106

1 10% 104,066,484 2000 6 2034,890,262 2002 3 6 25%2005 3 6 100%2010 5 30 2000 6 27 25% P = 80% AxB PA 18.81 B1999 12 31 1,040,664,846 7.52 2004 1.682004 6.88 12 1% i ii 5 iii 107

25% 100%10 63,901,484 2007 3 8 5.99% 2005 9 2006 12 31 2006 2006 1 1 12 31 2000 6 20 6.88 2,126,000 1,338,000 788,000 2002 3 6 2010 5 30 1 2 3 2006 2006 1 1 12 31 5 6 4 2003 5 2 8.28 2,460,000 2,460,000 2005 5 2 2013 5 1 1 2003 8 14 12.45 844,000 297,000 547,000 2005 8 142013 8 13 2003 8 18 12.49 1,476,000 1,476,000 2005 8 182013 8 17 2004 1 15 17.30 1,094,000 272,000 822,000 2006 1 152014 1 14 2004 3 31 16.96 5,074,000 736,500 253,000 4,084,500 2006 3 312014 3 30 2004 5 17 15.91 200,000 50,000 150,000 2006 5 172014 5 16 2005 1 26 19.25 5,426,000 372,000 5,054,000 2007 1 262015 1 25 1. 2. 46.02 3. 25% 2005 3 6 100% 4. 5. 55.91 108

6. 25% 7. 10 2006 12 31 15,553,000200522,663,000 2005 9 14 15 3%31,871,575 1% 10,623,858 2006 8 16 25% 2006 12 13 19,673,16067 272,5000.026% 2007 1 15272,465 19,696,000 109

1,232,465 2005 12 19 960,000 31.20 1 2007 12 19 2010 12 19 2007 1 15 272,465 72.28 2 2008 12 13 2011 12 13 1. 2. 2006 8 16 3. 2006 12 318,480,0002005: 292,000 2006 12 31 1,258,000272,50029,594 28,700 2003 5 12007 4 30 2007 5 1 2009 4 30 2007 3 8 110

2006 http://www.hkex.com.hk/exchange/asso/exchange_c.htm 111

2006 20030( ) 9 118,0002005 68,000 74%13,300 2005 8,30060% 75 200 7,000 0.94 1.19 70 112

11 13 2007 3 4 12 1 7 42004 05 62005 12 2005 06 100 2006 100% 11 4 > 3 4 > 5 7 CCASS 3 SDNet > 10 21AMS 3 7 24 2 20 113

6 > 65 > 14 > 3 > 26 10 > 15 > 24 > 78 > 1 > 10 > 1 11 10 2007 1 250 500 > 2006 > > 2006 > > 2006 > 2006 > Eurofinance > > CFO 114

2007 4%2%2% 90 400 113 3,00030.8 > > > > 8 > 17 2007 1 8 115

828 387 441 84 My Community 72 370,000 2007 20% 100 23 2005 2006 10% 828 (2005804 )35 (2005 25 ) > > > 45 > 2006 94 116

4,000 8 3 2005 2006 2006 2007 50 100 37,500 > > > > 800 90 370,000 > 2006 > > > 2006 > 2006 > 2006 > 2006 > > 2006 > 2006 117

3R 2007 27% 2005 24% 1999 200662% 2005 48% 40% ( ) ( ) 6 9 2007 3 8 118

2006 12 31 2006 12 31 4 2006 12 31 125 2006 9 19 0.9420050.49 10.01 20055.21 912,000 2005 2007 4 261.192005 0.64 22.69 2,409,000 2005 12.02 614,000 2006 12 3179B 33.75 200532.35 33 3739 111,600 82 119

18 32 26 2006 12 31136 77 6 David M Webb 90(1) 90(1A) 90(3) 93(5) 2007 2007 96 45 120

( 2000 6 27 ( 2005 9 14 ( 2006 8 16 2006 2006 12 31 31 (a) (b) 2006 121

(c) 2006 (d) 2006104 161 13 2006 12 31 336 5% JPMorgan Chase & Co 6,713,586 } 12,744,310 65,106,894 45,648,998 6.11 JPMorgan Chase & Co(25,150 ) (1,130,500 ) 1,155,650 45,648,998 336 5% 61 5% 122

2006 12 31 CCASS 63.8%2005 12 3164.5% 100% 2006 12 31 210 214 5 2006 12 31 30%5 2006 12 31 30% 274,5002,000 2005 2006 12 13 25,5002006 12 31 300,000 21,269,000 109 9 2006 12 31 2007 2007 3 8 123

125 209 2006 12 31 141 2006 12 31 2007 3 8 124

2006 2005 5 1,340,355 793,247 6 465,445 413,000 674,373 384,019 376,118 259,952 391,213 322,713 7 601,080 300,120 8 298,332 221,017 4 4,146,916 2,694,068 9 654,806 586,034 10 218,608 201,725 119,167 80,679 11,270 10,065 7,996 13,641 99,888 150,995 11 98,838 102,344 4 1,210,573 1,145,483 4 2,936,343 1,548,585 4 21(a) 27,124 18,433 4 12 2,963,467 1,567,018 4 15(a) (444,898) (227,460) 4 39 2,518,569 1,339,558 16 2,266,694 1,200,117 17(a) 2.37 1.26 17(b) 2.34 1.26 0.94 0.49 1.19 0.64 2.13 1.13 90% 90% 125

32 33 34 35 36 39 2006 1 1 1,213,160 34,980 (37,086) 700,641 2,455,794 4,367,489 HKAS 27 (30,028) 10 (30,018) 2006 1 1 1,183,132 34,980 (37,086) 700,641 2,455,804 4,337,471 502 502 31,356 31,356 17,941 17,941 475 475 (475) (475) (87) (87) (2,094) (2,094) 686 686 47,618 686 48,304 2,518,569 2,518,569 47,618 2,519,255 2,566,873 2005 (680,588) (680,588) 2006 (1,000,307) (1,000,307) 30,895 30,895 (21,269) (21,269) 24,033 24,033 441 37 478 7,335 (7,335) (32,379) 32,379 2006 12 31 1,200,093 52,119 10,569 668,262 3,326,543 5,257,586 126

32 33 34 35 36 39 2005 1 1 1,160,673 17,061 18,829 680,996 2,154,675 4,032,234 (377) (377) (52,985) (52,985) (5,775) (5,775) (129) (129) 129 129 65 65 3,136 3,136 (55,936) (55,936) 1,339,558 1,339,558 (55,936) 1,339,558 1,283,622 2004 (498,217) (498,217) 2005 (520,567) (520,567) 47,379 47,379 (30,028) (30,028) 22,955 22,955 72 21 93 5,108 (5,108) 19,645 (19,645) 2005 12 31 1,183,132 34,980 (37,086) 700,641 2,455,804 4,337,471 127

2006 2005 18(a) 210,161 257,876 19 19,300 17,700 20 93,575 94,123 21 68,377 64,581 22 2,270,531 1,340,410 23 40,535 38,410 38,886 38,768 38(e) 3,330 3,060 18,583 17,162 3,212 3,212 2,766,490 1,875,302 24 10,201,562 3,286,835 20 548 547 108 25 21,666,474 13,648,581 26 2,878,224 2,643,788 27 539,132 185,611 116,622 2,215,257 1,359,133 37,686,808 21,055,614 25 21,666,474 13,648,581 28 11,107,200 3,641,071 26 7,505 1,443 29 1,700 2,550 318,468 284,851 287,368 92,628 30(a) 26,712 27,145 33,415,427 17,698,269 4,271,381 3,357,345 7,037,871 5,232,647 128

2006 2005 29 79,750 80,150 22 1,642,495 751,751 38(e) 14,003 20,770 42(a)(ii) 19,909 19,909 30(a) 24,128 22,596 1,780,285 895,176 5,257,586 4,337,471 32 1,065,448 1,062,755 32 185,942 150,405 32 (51,297) (30,028) 33 52,119 34,980 34 10,569 (37,086) 36 668,262 700,641 39 2,060,156 1,776,254 39 1,266,387 679,550 5,257,586 4,337,471 4.94 4.09 2007 3 8 129

2006 2005 18(b) 17,482 17,723 31(a) 4,156,588 4,156,588 31(d) 49,825 30,037 38(e) 3,330 2,967 483 480 3,089 3,089 4,230,797 4,210,884 24 9,758 26,274 31(b) 1,020,858 583,102 29,089 10,184 41,656 43,383 1,101,361 662,943 28 104,491 162,018 31(b) 498,224 183,116 13,054 8,257 30(b) 26,712 25,613 642,481 379,004 458,880 283,939 4,689,677 4,494,823 30(b) 575 575 42(b)(i) 11,390 11,390 11,965 11,965 4,677,712 4,482,858 32 1,065,448 1,062,755 32 185,942 150,405 33 51,606 34,908 37 2,997,115 2,997,115 39 (890,283) (442,488) 39 1,267,884 680,163 4,677,712 4,482,858 4.39 4.22 2007 3 8 130

2006 2005 40(a) 2,865,468 1,429,946 (60,269) (62,080) 385 56 (24,876) 1,312 27,784 12,668 (69,107) (115,109) (535,585) 288,911 89,916 (346,569) (99,425) 30,895 47,379 (21,269) (30,028) (1,250) (5,000) (1,671,151) (1,018,784) (1,662,775) (1,006,433) 856,124 324,088 2005 12 31 2004 12 31 1,359,113 1,035,045 HKAS 27 20 2006 12 31 2005 12 31 2,215,257 1,359,133 1,379,963 1,174,313 835,294 184,820 2006 12 31 2005 12 31 2,215,257 1,359,133 131

1. 1 12 2007 3 8 2. (a) HKFRSs HKFRSs HKASs 2006 12 31 (b) HKFRSs 3 HKFRSs 2006HKAS 272006 HKFRS HKAS 27 HKAS 272006 HKFRSs 2005 2006 1 1 HKAS 27 132

2. (b) HKFRSs 2005 HKAS 27 2006 HKAS 27 HKFRSs 2006 2006 12 31 HKFRS HKFRS HK(IFRIC)-INT 10 HK(IFRIC)-INT 102006 HK(IFRIC)-INT 10 HK(IFRIC)-INT 10 HKAS 362003 1 1 HKAS 392004 1 1 HKAS 27 2006 2005 6 11 (20) (1) (14) 10 (0.00 ) 0.00 (0.00 ) 0.00 133

2. (b) HKAS 272006 12 312005 12 31 2006 2005 (49,825) (30,037) 53 20 3 1 (51,297) (30,028) 1,522 10 2006 12 31 HKFRSs 2006 12 31 HKFRS HK(IFRIC)-Int 11: HKFRS 2 (c) 2000 12 31 (i) (ii) 20% 50% 134

2. (d) (e) (i) (ii) (iii) (iv) T+1 (v) CCASS (vi) (vii) (viii) (ix) (x) (f) 135

2. (g) (i) (ii) 2002 11 7 HKFRS 2 (iii) (h) 136

2. (i) 25 5 5 3 5 3 2(m) 137

2. (i) (j) HKIS HKIS (k) (l) (m) 138

2. (m) (n) CCASS HKAS 39 44 (o) HKAS 39 44 139

2. (p) (q) 2(r) (r) 12 12 (i) (ii) 140

2. (s) (i) 12 12 (ii) (iii) 141

2. (s) (iv) HKAS 39 HKAS 21 HKAS 39 (v) 142

2. (s) (vi) 180 143

2. (s) (vi) (t) (i) 2(s)(i) 144

2. (t) (ii) HKAS 39 HKAS 37 (iii) (u) (v) CCASS T+1 T+1 CCASS (w) (x) 145

2. (y) (z) (i) (ii) 2(s)(iv) (aa) 146

2. (ab) (ac) (ad) (ae) 3. 2(m) CHIS 21(b)(ii) 40%76% 147

4. 2006 1,822,011 661,305 1,269,840 393,760 4,146,916 441,233 118,456 328,529 41,860 930,078 129,091 39,745 92,250 19,409 280,495 570,324 158,201 420,779 61,269 1,210,573 1,251,687 503,104 849,061 332,491 2,936,343 1 27,123 27,124 1,251,688 503,104 876,184 332,491 2,963,467 (444,898) 2,518,569 2,803,226 22,782,430 14,715,139 80,796 3,330 40,384,921 68,377 68,377 2,803,226 22,782,430 14,783,516 80,796 3,330 40,453,298 831,567 21,698,925 12,286,695 35,808 342,717 35,195,712 31,719 3,050 15,717 1,775 52,261 25,538 9,633 61,112 4,152 100,435 146 (51) (138) (29) (72) 13,306 3,291 7,416 1,119 25,132 148

4. 2005 1,172,854 441,758 753,699 325,757 2,694,068 429,042 111,812 305,821 46,703 893,378 115,915 36,149 79,089 20,952 252,105 544,957 147,961 384,910 67,655 1,145,483 627,897 293,797 368,789 258,102 1,548,585 (3) 18,436 18,433 627,894 293,797 387,225 258,102 1,567,018 (227,460) 1,339,558 2,157,514 14,616,310 6,028,404 60,939 3,168 22,866,335 1,305 63,276 64,581 2,158,819 14,616,310 6,091,680 60,939 3,168 22,930,916 608,183 13,697,352 4,106,773 35,451 145,686 18,593,445 68,364 2,875 12,416 2,148 85,803 64,263 13,192 65,870 8,218 151,543 73 102 261 7 443 12,619 3,141 8,281 1,315 25,356 149

4. 6 5. 2006 2005 969,421 528,954 370,934 264,293 1,340,355 793,247 150

6. 2006 2005 247,797 24,977 1,812 274,586 236,125 25,946 1,874 263,945 45,910 3,175 135,516 184,601 53,175 5,880 83,020 142,075 2,730 360 60 3,150 2,775 375 140 3,290 2,174 934 3,108 2,706 984 3,690 298,611 29,446 137,388 465,445 294,781 33,185 85,034 413,000 120,623 30,664 6,886 158,173 98,408 28,749 5,645 132,802 1,943 517 2,460 1,608 441 2 2,051 14,930 3,722 870 19,522 6,336 1,846 363 8,545 1,785 1,247 3,032 4,907 1,202 1 6,110 3,420 1,008 57 4,485 6,234 1,918 206 8,358 8,489 2,992 204 11,685 20,777 5,337 164 26,278 151,190 40,150 8,017 199,357 138,270 39,493 6,381 184,144 25,175 5,361 4,578 35,114 27,822 5,602 4,571 37,995 122,246 (16,065) 124,793 230,974 128,689 (11,910) 74,082 190,861 151

7. 2006 2005 516,468 246,740 24,755 11,852 267,227 78,064 808,450 336,656 a (442,670) (126,260) 365,780 210,396 266 163,640 84,644 49,521 15,513 15,824 (17,928) 228,985 82,229 228,985 82,495 6,115 7,630 200 (401) 601,080 300,120 b 305,729 119,198 246,732 150,209 48,619 30,713 601,080 300,120 (a) 2005 6 12006 2005 6 1 (b) 2,026,000 2005 1,286,000 152

8. 2006 2005 180,372 129,733 33,927 34,351 57,066 34,123 9,162 19 1,600 4,400 3,164 2,154 13,041 16,256 9. (a) 298,332 221,017 2006 2005 577,713 512,549 33 24,033 22,955 1,194 237 b ORSO 51,507 50,011 359 282 654,806 586,034 (b) ORSO ORSO 5% ORSO 12.5% ORSO 10% ORSO 5%1,000 153

9. (b) ORSO 2005 2006 12 31 ORSO ORSO ORSO 2006 2005 ORSO 5,047 3,143 10. 2006 2005 133,237 146,568 85,371 55,157 218,608 201,725 11. 2006 2005 24(b) 350 (389) 18(a)(iii) (422) 837 15,338 16,187 4,274 4,954 8,420 7,887 11,476 4,420 7,821 8,476 8,857 6,279 4,878 4,659 37,846 49,034 98,838 102,344 154

12. 2006 2005 (547) (548) (2,324) (2,000) (300) (449) (1,192) 440 158 (6) (9) (80,946) (44,976) (5,784) (6,514) 515 501 (168) (166) (99,888) (150,995) 422 (837) 5 (627) 38 6 200 (401) (671) 1,604 155

13. 2006 12 31 2005 12 31 2006 2005 7,403 7,262 2,754 1,200 918 900 11,075 9,362 a 1,210 1,791 12,285 11,153 2,880 2,460 15,165 13,613 (a) (b) 2006 2005 1 500,000 16 13 11,000,001 11,500,000 1 12,000,001 12,500,000 1 17 14 156

13. 20062005 12 31 2006 a b c 180 180 180 d 60 60 60 7,344 59 2,754 918 11,075 1,210 12,285 c 180 180 180 c 180 180 180 e 240 240 240 240 240 240 240 240 240 d 60 60 60 240 240 240 d 60 60 60 240 240 240 f d 60 60 60 c 180 180 180 240 240 240 David M Webb 240 240 240 240 240 240 2,880 7,344 59 2,754 918 13,955 1,210 15,165 2005 a b c d 205 205 205 7,200 62 1,200 900 9,362 1,791 11,153 c c e 180 180 180 205 205 205 205 205 205 d 205 205 205 205 205 205 d 205 205 205 205 205 205 f 25 25 25 d 205 205 205 c 205 205 205 David M Webb 205 205 205 205 205 205 2,460 7,200 62 1,200 900 11,822 1,791 13,613 (a) (b) 18%18% 100% (c) 2006 4 26 (d) 2006 4 26 (e) 2005 4 12 (f) 2005 4 12 157

14. 200513 2005 2006 2005 17,456 17,569 6,493 2,790 2,135 2,151 26,084 22,510 a 1,820 5,374 27,904 27,884 (a) (b) 2005 2006 2005 5,500,001 6,000,000 1 6,000,001 6,500,000 1 6,500,001 7,000,000 3 1 7,500,001 8,000,000 1 9,000,001 9,500,000 1 4 4 158

15. (a) 2006 2005 i 454,121 245,043 (5) (8,845) 454,116 236,198 38(a) (9,218) (8,738) 444,898 227,460 (i) 17.5% 200517.5% (b) 17.5% 200517.5% 2006 2005 2,936,343 1,548,585 17.5% 2005 17.5% 513,860 271,002 (77,190) (53,960) 7,726 7,735 507 11,528 (5) (8,845) 444,898 227,460 159

16. 2006 2005 0.94 20050.49 1,001,219 520,567 (912) 1,000,307 520,567 a b 1.19 2005 0.64 1,267,884 680,163 (1,497) (613) 1,266,387 679,550 2,266,694 1,200,117 (a) 2005680,588,000 614,0001,000 2006 1 )1,039,0002005 12 31 (b) 17. (a) 2006 2005 2,518,569 1,339,558 1,063,493,204 1,060,349,075 2.37 1.26 (b) 2006 2005 2,518,569 1,339,558 1,063,493,204 1,060,349,075 11,592,735 6,598,114 956,325 27,616 1,076,042,264 1,066,974,805 2.34 1.26 160

18. (a) 2005 1 1 i 17,600 240,377 47,496 18,827 324,300 48,137 10,004 27,662 85,803 ii (17) (1) (18) (686) (103,393) (30,410) (16,506) (150,995) iii (1,214) (1,214) 2005 12 31 15,700 185,104 27,089 29,983 257,876 2005 12 31 1,271,146 350,659 253,746 1,875,551 15,700 15,700 (1,086,042) (323,570) (223,763) (1,633,375) 15,700 185,104 27,089 29,983 257,876 2006 1 1 15,700 185,104 27,089 29,983 257,876 13,566 13,207 25,488 52,261 ii (1,012) (1,012) (624) (71,767) (17,430) (10,067) (99,888) iii 924 924 2006 12 31 16,000 126,903 22,866 44,392 210,161 2006 12 31 1,275,800 352,662 268,171 1,896,633 16,000 16,000 (1,148,897) (329,796) (223,779) (1,702,472) 16,000 126,903 22,866 44,392 210,161 (i) 2005 1 1 1,223,047 352,106 229,674 1,804,827 17,600 17,600 (982,670) (304,610) (210,847) (1,498,127) 17,600 240,377 47,496 18,827 324,300 (ii) 2006 31,179,000 200515,079,000 (iii) 2006 12 31 2006 12 31924,000502,000 34422,000 112005 12 31 1,214,000 377,000 34837,000 11 (iv) 26,900,000200526,900,000 2006 12 3111,001,0002005 12,077,000 161

18. (b) 2005 1 1 i 22,062 3,102 25,164 5,828 1,771 7,599 ii (1) (1) (12,532) (2,507) (15,039) 2005 12 31 15,357 2,366 17,723 2005 12 31 52,673 19,128 71,801 (37,316) (16,762) (54,078) 15,357 2,366 17,723 2006 1 1 15,357 2,366 17,723 7,447 3,678 11,125 (10,289) (1,077) (11,366) 2006 12 31 12,515 4,967 17,482 2006 12 31 60,080 22,806 82,886 (47,565) (17,839) (65,404) 12,515 4,967 17,482 (i) 2005 1 1 46,695 16,565 63,260 (24,633) (13,463) (38,096) 22,062 3,102 25,164 (ii) 200641,00020053,000 19. 2006 2005 1 1 17,700 13,300 1,600 4,400 12 31 19,300 17,700 8,229,0002005 8,229,0002006 12 31 1,600,00020054,400,000 8) 162

20. 2006 2005 1 1 94,670 95,218 (547) (548) 12 31 94,123 94,670 (548) (547) 93,575 94,123 102,770,0002005 102,770,000 21. 2006 2005 a 18,170 14,374 b 50,207 50,207 (a) 68,377 64,581 2006 2005 1 1 14,374 13,790 2005 5 3 CHIS 6% 10 ADP Wilco Processing Services Limited (1,306) 32,846 22,110 (5,722) (3,677) 27,124 18,433 478 93 (22,500) (17,952) 12 31 18,170 14,374 163

21. (b) 2006 2005 1 1 i 50,207 24,941 2005 5 3 CHIS 6% 25,266 12 31 50,207 50,207 HKFRS 3 24,941 25,321 25,266 25,266 (380) 50,207 50,207 (i) 2005 1 1HKFRS 325,321,000 380,000 (ii) CHIS CHIS 2006 12 31 3.73% 20054.18% 2005 ADP Wilco Processing Services LimitedAWPS (c) 2006 12 31 7,317 A 30% CHIS AWPS 6 B 30% 2006 3 AWPS 1,312,000 6,000 6,000 AWPS 2006 7 (d) 12 31 12 31 2006 2005 122,486 90,387 61,918 42,537 374,121 232,098 90,409 66,071 164

22. 2006 2005 344,825 342,679 578,407 376,758 1,347,299 620,973 2,270,531 1,340,410 129,512 98,896 187,700 125,241 30,290 1,957,229 1,091,233 2,274,441 1,345,660 (3,910) (5,250) 2,270,531 1,340,410 a 1,642,495 751,751 36 320,200 320,200 1,928 1,928 232,148 204,213 73,540 63,635 627,816 589,976 34(b) 220 (1,317) 2,270,531 1,340,410 98,896 2,270,531 1,241,514 2,270,531 1,340,410 (a) 1,279,645,000 2005 393,701,000 (b) CCASS 165

23. 2006 2005 42,990 18,488 8,653 30,240 51,643 48,728 (11,108) (10,318) 40,535 38,410 36 40,446 38,420 34(b) 89 (10) 40,535 38,410 40,535 38,410 10 5 (i) (ii) (iii) 42(a)(i) 166

24. 2006 2005 2006 2005 9,586,161 2,889,804 386,141 193,849 22,180 10,084 175,656 137,848 9,811 36,638 9,398 26,114 26,292 22,941 360 160 b (4,679) (4,329) 10,201,562 3,286,835 9,758 26,274 (a) (b) 2006 2005 1 1 4,329 5,167 11 350 (389) (449) 12 31 4,679 4,329 (c) 94% 200588% 30 167

25. 2006 2005 3,994,664 1,506,962 17,671,810 12,141,619 21,666,474 13,648,581 137,191 78,907 634,688 359,635 10,311,166 3,390,291 51,459 100,018 10,664,404 9,686,026 61,813 33,704 21,860,721 13,648,581 (194,247) 21,666,474 13,648,581 21,666,474 13,648,581 1,114,326 21,666,474 12,534,255 21,666,474 13,648,581 168

26. 2006 2005 186,658 139,220 194,267 173,349 380,925 312,569 70,539 86,509 1,255,022 1,070,100 1,169,592 1,172,015 2,495,153 2,328,624 a 2,146 2,595 2,878,224 2,643,788 a 7,505 1,443 (a) 280,976,0002005275,071,000 ) 48(b) 169

27. 2006 2005 28,462 43,574 467,096 539,132 12 28. 2006 2005 2006 2005 9,588,374 2,889,524 734,696 144,144 67,565 46,450 84,670 55,027 b 191,681 180,327 41,346 32,288 268,236 75,899 24,243 22,156 147,735 227,544 63,145 129,730 11,107,200 3,641,071 104,491 162,018 (a) (b) 686,000 2005 39 (c) 86% 2005 79% 29. CCASS CCASS CCASS 12 170

30. (a) 2006 1 1 24,128 25,613 49,741 1,850 35,730 37,580 (1,850) (33,494) (35,344) (1,137) (1,137) 2006 12 31 24,128 26,712 50,840 2006 2005 26,712 27,145 24,128 22,596 (b) 50,840 49,741 2006 1 1 575 25,613 26,188 35,730 35,730 (33,494) (33,494) (1,137) (1,137) 2006 12 31 575 26,712 27,287 2006 2005 26,712 25,613 575 575 27,287 26,188 (i) 4 (ii) 12 171

31. (a) 2006 2005 4,145,198 4,145,198 42(b)(i) 11,390 11,390 (b) 4,156,588 4,156,588 (c) 2006 12 31 A 929 100% 100% 19,600,000 850,000 2 CCASS 100% HKEC Nominees Limited 2 100% 2 100% 2 100% HKEx (Singapore) Limited 2 100% 172

31. (c) 1,000,000 100% HKEx Information Services 100 100% Limited Prime View Company Limited 20 100% The Stock Exchange Club 8 100% Limited The Stock Exchange Nominee 2 100% Limited 1,000,000 100% HKFE Clearing Linkage Limited 2 100% 20 CCASS 100% Many Profit Limited 2 100% Freestar Corporation Limited 2 100% Star Prime Limited 2 100% HK Conversion Agency Services 2 100% Limited d) 33(c) 2006 12 3149,825,000 200530,037,000 173

32. 2006 2005 2,000,000,000 2,000,000 2,000,000 1 2005 1 1 1,056,638,846 1,056,639 104,034 1,160,673 a 6,116,000 6,116 41,263 47,379 33 5,108 5,108 b (958,000) (30,028) (30,028) 2005 12 31 1,061,796,846 1,062,755 150,405 (30,028) 1,183,132 2006 1 1 1,062,754,846 1,062,755 150,405 1,213,160 HKAS27 (958,000) (30,028) (30,028) 2006 1 1 1,061,796,846 1,062,755 150,405 (30,028) 1,183,132 a 2,693,500 2,693 28,202 30,895 33 7,335 7,335 b (300,000) (21,269) (21,269) 2006 12 31 1,064,190,346 1,065,448 185,942 (51,297) 1,200,093 174

32. 1 2005 1 1 1,056,638,846 1,056,639 104,034 1,160,673 a 6,116,000 6,116 41,263 47,379 33 5,108 5,108 2005 12 31 1,062,754,846 1,062,755 150,405 1,213,160 2006 1 1 1,062,754,846 1,062,755 150,405 1,213,160 a 2,693,500 2,693 28,202 30,895 33 7,335 7,335 2006 12 31 1,065,448,346 1,065,448 185,942 1,251,390 (a) 2,693,50020056,116,00011.472005 7.751.00 (b) 300,000 2005958,00033(c) 21,269,000 (200530,028,000 ) 33. 2006 2005 2006 2005 1 1 34,980 17,061 34,908 17,061 a 9(a) 24,033 22,955 24,033 22,955 32 (7,335) (5,108) (7,335) (5,108) 441 72 12 31 52,119 34,980 51,606 34,908 175

33. (a) 9(a) (b) (i) 2000 5 31 25% 2005 1 26 5,884,000 2007 1 262015 1 25 19.252006 (ii) 2006 2005 1 1 6.88 2,126,000 6.88 6,680,000 6.88 (1,338,000) 6.88 (4,554,000) 12 31 6.88 788,000 6.88 2,126,000 1 1 15.80 16,574,000 13.78 13,218,000 19.25 5,884,000 16.00 (1,355,500) 10.27 (1,562,000) 18.32 (625,000) 18.05 (966,000) 12 31 15.68 14,593,500 15.80 16,574,000 15.23 15,381,500 14.79 18,700,000 2006 12 3115,381,500200518,700,000 2,626,500 20052,148,000 10.39 20056.94 2,693,500 2005 6,116,000 11.47 2005 7.75 51.33 2005 21.06 176

33. (b) (iii) 12 31 2006 2005 6.88 3.41 788,000 4.41 2,126,000 8.28 6.33 2,460,000 7.33 2,460,000 12.45 6.62 547,000 7.62 844,000 12.49 6.63 1,476,000 7.63 1,476,000 17.30 7.04 822,000 8.04 1,094,000 16.96 7.24 4,084,500 8.24 5,074,000 15.91 7.37 150,000 8.37 200,000 19.25 8.07 5,054,000 9.07 5,426,000 7.08 15,381,500 7.84 18,700,000 (iv) 2005 2005 2005 1 26 5,884,000 26,183,800 19.25 10 2005 1 26 3.67% # 26% 2005 1 26 10 4.42% 2005 1 26 ) # 177

33. (b) (v) 2006 12 31 234,205,000 85.50 1,315,118,000 2006 12 31 2000 6 20 788,000 6.88 78.62 61,953 2003 5 2 2,460,000 8.28 77.22 189,961 2003 8 14 547,000 12.45 73.05 39,958 2003 8 18* 1,476,000 12.49 73.01 107,763 2004 1 15 822,000 17.30 68.20 56,060 2004 3 31 4,084,500 16.96 68.54 279,952 2004 5 17 150,000 15.91 69.59 10,439 2005 1 26 5,054,000 19.25 66.25 334,827 1,080,913 * 2007 1 3 492,000984,000 86.60 492,000 36,462,000 178

33. (c) (i) 2005 9 14 25% 2006 8 16 2006 8 16 )20 2005 12 19960,000 2007 12 192010 12 19 2005 12 30,028,000 958,000 2006 1 70,000 2,000 2006 12 13 19,673,000 19,696,000 272,500 2007 1 15272,465 2008 12 132011 12 13 2006 1,503,000 25,500 2005 24,867 2005 179

33. (c) (ii) 2006 2005 1 1 31.20 960,000 * 31.20 960,000 31.20 (28,700) 24,867 (261) 12 31 31.20 955,906 31.20 960,000 * 2006 12 1319,673,000 2007 1 15272,465 2006 8 16 2006 8 16 (iii) 12 31 2006 2005 31.20 0.97 3.97 931,300 1.974.97 960,000 0.97 3.97 24,606 0.97 3.97 955,906 1.974.97 960,000 (iv) 2006 12 31302,094 2005272,465 2007 1 1529,629 (v) 2006 12 31 85.50 81,730,000 180

34. b c 2005 1 1 2,537 16,292 18,829 18(a)(iii) (377) (377) (52,985) (52,985) (5,775) (5,775) 38(b) 65 65 38(b) 3,136 3,136 21 21 2005 12 31 2,225 (39,311) (37,086) 2006 1 1 2,225 (39,311) (37,086) 18(a)(iii) 502 502 31,356 31,356 17,941 17,941 38(b) (87) (87) 38(b) (2,094) (2,094) 37 37 2006 12 31 2,640 7,929 10,569 (a) (b) 220,00020051,317,000 89,0002005 10,000 (c) 58,000200521,000 ) 181