香港股份代號 : 00686 2016

2 3 17 18 19 21 23 24 44 1

Appleby Management (Bermuda) Ltd. Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda 168 20010 1012 www.unitedpvgroup.com 2

發電量 ( 兆瓦時 ) 700,000 600,000 60,104 聯營公司附屬公司 500,000 26 21 400,000 70,278 56.4% 996 300,000 550,740 200,000 332,112 100,000 0 二零一六年六月三十日 二零一五年六月三十日 6 270 222,810 3 130 107,168 4 200 154,473 4 200 150,054 6 120 58,009 5 100 33,484 1 100 47,108 1 100 39,587 1 100 48,574 1 100 2,640 1 19.8 15,928 2 2.4 1,198 2 2.4 1,819 22 912.2 550,740 15 532.4 332,112 2 60 44,220 2 60 45,060 2 23.8 15,884 2 23.8 14,893 2 20.8 10,325 4 83.8 60,104 6 104.6 70,278 26 996 610,844 21 637 402,390 3

95.4% 2% 3% 3% 10% 按地區劃分的裝機容量 4% 10% 10% 二零一六年 33% 內蒙古青海新疆甘肅湖北 山西雲南江蘇福建 16% 16% 二零一五年 30% 12% 20% 31% 43.7% 25.3% 14019% 按地區劃分的發電量 雲南 3% 福建 3% 江蘇 3% 甘肅 8% 甘肅 10% 內蒙古 44% 青海 25% 江蘇 4% 青海 37% 內蒙古 38% 湖北 8% 新疆 9% 二零一六年 新疆 8% 二零一五年 4

100 PLC 4G LTE 633,600 5

4G 4G 16 14 2017 130 109 6

% 452 283 169 60 70 71 (1) (1) EBITDA 376 212 164 77 (167) (107) (60) 56 523 421 102 24 (493) (269) (224) 83 19 (3) 22 733 258 254 4 1 EBITDA 379.8 71%218,62866% 7

182,572 91,596 130,954 128,251 44,159 28,212 35,659 33,835 45,667 12,570 851 1,292 452,432 283,186 37,182 37,876 32,718 30,677 2,900 69,900 71,453 522,332 354,639 332,112 66%550,740 8

93024 74% 45 19137% 25 9.7 306 9

20 1916 83% 691,376 EBITDA 10

EBITDAEBITDAEBITDA EBITDA8% 83% 0.970.83 60.6%67.7% 10,5583,541 4,2777,189 26 27 11

6,129,453 5,009,599 1,236,463 1,442,416 3,475,282 2,910,959 10,841,198 9,362,794 (889,148) (947,154) 9,952,050 8,415,820 2,633,181 2,229,954 12,585,231 10,645,774 79.08% 79.05% 6853,473 1,694,900 778,650 1,435,848 1,961,189 161,619 6,032,206 1,009,533 815,275 654,842 2,479,650 935,456 157,423 1,092,879 2,704,433 2,529,381 2,248,113 1,961,189 161,619 9,604,735 12

55.6% 1 19.8 100% 1 20 13

29617035 261 50 30.5 35 69.7 20 50 14

175 0.015 0.019 7.14 18.1 15

16

119,960 77,576 332,472 205,610 452,432 283,186 4 27,075 250 (50,067) (33,936) 419 9,787 (3,128) (3,878) (17,014) (27,666) (4,442) (2,239) (6,416) (2,346) (3,121) (573) (19,352) (10,227) EBITDA 376,386 212,358 (7) (1,085) (166,544) (107,048) (i) 18 4,167 11,824 (ii) 6,787 (i) (9,708) 142,244 (ii) 11 305,680 212,809 (iii) 11 106,709 (i) 36,665 (57,637) (ii) 21,262 (11,813) 5 67,132 118,537 6 (493,234) (269,462) 9,030 (3,161) 257,538 254,353 7 257,538 254,353 248,951 242,914 8,587 11,439 257,538 254,353 9 5.22 5.60 9 3.73 3.60 2443 17

257,538 254,353 18,769 (1,755) 18,769 (1,755) 276,307 252,598 267,720 241,159 8,587 11,439 276,307 252,598 2443 18

435 440 8,414,254 7,419,750 918,097 949,781 281,484 305,040 10 832,607 741,123 11 111,182 120,890 10,558,059 9,537,024 1,314 1,314 285,189 279,277 10 471,101 770,031 11 429,380 12 1,445,469 1,228,359 19,539 206,150 889,148 947,154 3,541,140 3,432,285 14,099,199 12,969,309 13 393,086 385,804 2,094,757 1,739,519 2,487,843 2,125,323 145,338 104,631 2,633,181 2,229,954 19

14 4,434,553 4,305,778 15 2,465,749 1,986,936 15 580,691 23,570 2,210 4,210 286,152 281,532 7,188,664 7,182,717 89,638 1,555,906 1,792,566 17,015 25,328 14 1,694,900 703,821 15 1,009,533 924,023 21,262 4,277,354 3,556,638 11,466,018 10,739,355 14,099,199 12,969,309 2443 20

385,804 4,511,460 118,792 (53,890) 221,993 (157,561) (6,664) (2,894,611) 2,125,323 104,631 2,229,954 248,951 248,951 8,587 257,538 18,769 18,769 18,769 18,769 248,951 267,720 8,587 276,307 20,000 20,000 13 7,282 67,089 (19,535) (2,182) 52,654 52,654 15 36,726 36,726 36,726 18 12,120 12,120 5,420 5,420 5,420 7,282 67,089 5,420 (19,535) 34,544 94,800 32,120 126,920 393,086 4,578,549 124,212 (73,425) 256,537 (138,792) (6,664) (2,645,660) 2,487,843 145,338 2,633,181 21

354,915 4,235,731 99,754 (53,890) 108,313 (50,041) (3,255,281) 1,439,501 44,249 1,483,750 242,914 242,914 11,439 254,353 (1,755) (1,755) (1,755) (1,755) 242,914 241,159 11,439 252,598 30,041 269,962 300,003 300,003 113,680 113,680 113,680 73,317 73,317 13,500 13,500 13,500 30,041 269,962 13,500 113,680 427,183 73,317 500,500 384,956 4,505,693 113,254 (53,890) 221,993 (51,796) (3,012,367) 2,107,843 129,005 2,236,848 2443 22

16 2,669 32,114 (3,747) 18 (11,796) (144,746) (14,225) 20,000 (115,000) (621,733) 396,170 4,062 855 (15,809) (808,687) (13,514) (539,580) (472,242) (1,069,056) (1,270,936) (281,483) (100,300) 61,000 186,440 (330,000) 300 (64,000) 1,288,430 810,307 480,000 (465,318) (31,500) 725,257 590,371 (15,653) (10,368) 32,322 300,003 (10,000) 992,172 2,173,636 (74,215) 934,814 947,154 212,672 16,209 (3,259) 889,148 1,144,227 2443 23

1 Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda168-20010 1012 1.1 20 19.818 40 20 18 30.5 100% 3530 EPC 284 21 100%40 EPC215 24

1 1.1 100% 98.87% 1050 EPC 90490 2 34 2.1 736 1.1 EPC 11 69.720 21 50% 225 8%50% 25

2 2.1 (i) 11 50 (ii) (iii) 50 326 (iv) EPC (v) 26

2 2.1 (vi) 2017 130 109 (iv) (vi) 2.2 (a) 10 28 10 12 28 11 14 1 16 38 27 27

2 2.2 (b) 16 2.3 2.4 3 28

3 9,672,141 8,733,918 957 435 9,673,098 8,734,353 10% A 143,733 91,596 B 130,954 128,251 C 45,667 D 33,835 4 24 5 4,557 507 4,062 855 58,513 117,175 67,132 118,537 29

6 34,615 6,207 141,926 81,873 33,254 31,431 283,439 99,325 50,626 493,234 269,462 7 25% 17 2 50% 0%0% 8 30

9 (a) 248,951 242,914 4,771,452 4,341,126 5.22 5.60 (b) 31

9 (b) 248,951 242,914 (21,262) 9,269 35,164 8,476 (48,989) (88,898) 223,133 162,492 4,771,452 4,341,126 1,022,062 96,270 75,827 194,285 5,987,799 4,513,223 3.73 3.60 32

10 424 11 111,182 120,890 (a) 305,680 (b) 123,700 540,562 120,890 (111,182) (120,890) 429,380 (a) (b) 107 12 34 (i) 5339652367 (ii) 58 35 33

13 0.10 20,000,000 1,637,168 4,751,266 385,804 88,044 7,282 4,839,310 393,086 B88,044,00040,020,000 1.00 14 4,434,553 4,305,778 1,694,900 703,821 6,129,453 5,009,599 34

14 5,009,599 34,615 810,307 (465,318) 725,257 (15,653) 32,322 (1,654) (22) 6,129,453 15 B 35

16 257,538 254,353 (2,000) (250) 5 6 (i) (4,167) (11,824) (ii) (6,787) 166,544 107,048 (i) 9,708 (142,244) (ii) (305,680) (212,809) (iii) (106,709) (i) (36,665) 57,637 (ii) (21,262) 11,813 (67,132) (118,537) 493,234 269,462 5,420 17,131 (9,030) 3,161 379,804 228,160 (243,946) (215,060) (4,882) (46,722) 15,000 (89,638) (38,669) 50,736 2,669 32,114 36

17 690 18 19.1%36.5% 20.1 55.6% 19.8 40 20 37

18 20,100 40,000 60,100 31,684 31,684 (6,495) (6,495) 15,595 15,595 35,695 65,189 100,884 175,527 176,833 352,360 18,993 19,995 38,988 (b) 1,460 14,012 15,472 8,175 129 8,304 (147,661) (139,177) (286,838) (4,512) (6,603) (11,115) 51,982 65,189 117,171 (12,120) (12,120) (4,167) (4,167) 35,695 65,189 100,884 7 7 (20,100) (40,000) (60,100) 40,000 40,000 8,175 129 8,304 (11,925) 129 (11,796) 38

18 (a) 12.6 5.33.93.2 452 249 (b) 15,472,000 1,405,000 1,405,000 (c) 11,115,000 (d) 4,167,000 25 (e) 19 (a) 39

19 (b) 5,470 2,781 1,369 2,162 6,839 4,943 20 (a) 40

20 (a) 120,890 (580,691) (21,262) (108,527) (9,708) 305,680 106,709 36,665 21,262 58,513 524,809 16,991 19,217 1,553 111,182 305,680 123,700 (48,461) (9,708) 305,680 106,709 36,665 21,262 58,513 (9,708) 305,680 106,709 36,665 21,262 58,513 41

20 (b) 111,182 120,890 +5% 5% 9,998 (10,126) 11,162 (11,325) 123,700 +5% 5% 6,185 (6,185) (48,461) (108,527) +5% 5% (13,713) 13,062 (22,496) 23,527 +0.10 (27,886) (42,455) 0.10 21,568 35,774 3,426,821 3,603,501 2,802,432 3,053,378 42

20 (b) 21 30.5 35 69.7 20 50326 43

XV 352 0.10 6,003,000 159,404,314 1 4,002,000 2 70,000 4,002,000 3 2,401,200 1,600,800 4 3.50% 0.08% 0.08% 1. 159,404,314141,230,827Magicgrand Group Limited 18,173,487Pairing Venture Limited 2. 4,002,000 3. 4,002,000 4. 1,600,800 44

XV 352 64,500,00064,500,000 36,568,31936,568,319 1 1 6,000,000 6,000,000 0.564 0.54 3,000,000 3,000,000 1 1 2,000,000 2,000,000 0.564 0.54 3,000,000 3,000,000 1 1 2,000,000 2,000,000 0.564 0.54 3,000,000 3,000,000 45

1 1 3,000,000 3,000,000 0.564 0.54 3,000,000 3,000,000 1 1 3,000,000 3,000,000 0.564 0.54 1,000,000 1,000,000 0.564 0.54 1,000,000 1,000,000 1 1 2,000,000 2,000,000 0.564 0.54 1,000,000 1,000,000 1 1 2,000,000 2,000,000 0.564 0.54 1,000,000 1,000,000 1 1 2,000,000 2,000,000 0.564 0.54 1,000,000 1,000,000 1 1 2,000,000 2,000,000 0.564 0.54 1,000,000 1,000,000 1 1 27,800,000 (1,700,000) 26,100,000 0.564 0.54 18,568,319 (878,000) 17,690,319 51,800,000 36,568,319 (2,578,000) 85,790,319 30% 30% 40%330%1 30%240%31 46

10% 30% 1% 281.00 (i) (ii) (iii) 47

1.257% 1.295% 45% 45% 0% 0% 5 5 22.5 7.1 48

336 1 683,055,686 1,543,622,303 46.01% 2 3 Snow Hill Developments Limited 103,111,436 23.21% Snow Hill2 579,944,250 440,036,000 4 579,944,250 440,036,000 21.08% 4 5 547,731,493 11.32% 555,854,810 11.49% 6 201,926,000 33,293,000 6.13% NEX7 61,627,621 8 299,922,000 79,948,000 7.85% 9 70,924,000 290,860,132 7.48% 10 631,376,578 13.05% 11 486,564,540 10.05% COAMI ABS No. 1 Limited12 380,728,155 7.87% 49

1. 31724.44% 57.02% 4,839,310,325 2. 683,055,686 Snow Hill 3. Snow HillSnow Hill 4. 579,944,250Snow Hill Magicgrand Group LimitedMagicgrand 79.36% 20.64%Magicgrand 5. 55% 45%50.86% 547,731,493 6. 52% 7. 317NEX 8. 74.81% 46.8%299,922,000 79,948,000 9. Fosun International Holdings Limited79.53%58% 70,924,000290,860,132 10. Driven Innovation Limited 11. 12. Walkers Fiduciary LimitedCOAMI ABS No.1 Limited380,728,155 13. NEX Sino Arena Investments Limited Magicgrand Pairing Venture Limited 3172,205,621 76,653,860141,230,82718,173,487 XV2 3 XV336 5% 50

14 A.2.1 10 13.51B(1) 88 51

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