China Development Bank International Investment Limited Annual Report 2014 China Development Bank International Investment Limited (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1062) Annual Report 2014 國開國際投資有限公司 二零一四年年報 年報 2014 1062 國開國際投資有限公司

2 4 5 11 22 25 36 38 39 40 41 42 80 1

3 3 5 9 10 4 9 1 6 7 8 3 7 8 5 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 8 4506-4509 Royal Bank of Canada Trust Company (Cayman) Limited 4th Floor, Royal Bank House 24 Shedden Road, George Town Grand Cayman KY1-1110 Cayman Islands 7 8 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 2

183 22 Conyers Dill & Pearman KBR Fund Management Limited KBR Management Limited 2 138 1403 8 3 38 3808-9 33 6 1062 www.cdb-intl.com www.irasia.com/listco/hk/cdbintl 3

4

4,856 1,818 90.51%5,273 2,768 190 41153.72% 1,458 2,879 Jinqiao Investments LimitedJinqiao 2,547 834 Jinkosolar Power Engineering Group Limited 6,383 North Sea Rigs Holdings LimitedNSR HoldingsJinqiao 2,020 3,861 10.6432 11.12641.67 0.63 5

4.149 4.4273 6

6 7 2168 1 2 NSR Holdings 3 4 Jinqiao 5 195,000,000 202,868,576 7,868,576 18.23% 5% 194,987,520 195,253,368 265,848 17.55% 73.0 187,200,000 182,587,019 (4,612,981) 16.41% 25% 47,766,128 71,897,511 24,131,383 2,323,901 6.46% 71.9 39,000,000 49,764,000 10,764,000 4.47% 1. 2. 3. NSR Holdings 4. 5. Jinqiao Golden Bridge Holdings Limited Zhongpin, Inc. 6. 7. 7

(i) 25,000,0008% (ii) 18,953,853 0.000001 11,90413,09623.81% 26.19% 23.81% 76.19% 26,809 13,404 5,250 4.09513,405 13,405 NSR Holdings NSR Holdings 7,500 NSR Holdings NSR Holdings NSR Holdings 2,500 8

NSR Holdings 1,234 1,940 36.36% Jinqiao Jinqiao Jinqiao Jinqiao JinqiaoJinqiao 2,000 20% Jinqiao 13.5Jinqiao 1,000Jinqiao Zhongpin, Inc. Golden Bridge Merger Sub Limited (Golden BridgeZhongpin, Inc. Golden BridgeZhongpin, Inc. 9

131,100 1,643 298.93 79.25 0.48% 0.83% 25% 10

14 26 38 80 35 183 22 11

13 206 25(b) 909,331,529 861,801,659 2 3 1 4 5 6 1. 2. 3. 4. 5. 6. 12

88 87(3) 22 24 9 XV 352 10 13

336 1 1,920,000,000 66.16% 1,920,000,000 66.16% 1 1 1,920,000,000 66.16% 2 163,702,560 5.64% 2 163,702,560 5.64% 1. 2. 336 14

(a) 0.2% 5 (b) (c) 15

21 11,90413,096 24,998,400 193,737,600 11,90423.81% 27,501,600213,137,400 13,096 26.19% 14A 5% 11,904 23.81% 76.19% KBR Fund Management Limited KBR Management LimitedKBR KBR (3) (3) KBR KBR KBR66,667 16

350,000 116,667 14A.08 350,000 5%14A 14A.76 14A.56 (a) (b) (c) (d) 14A.55 (a) (b) (c) 14A 17

17.07 17.09 1. 2. 3. 64,711,400 2.23% 4. 12 1% 5. 6 30 6. 6 7. 10 8. 18

9. 5 10. 10 2535 19

79 3.13 20

21

38, 60 600008A 2868 H : 3989 1329, 22

45 376 (INSEAD) 63 1229 205) A601998 H 998 A000488 B200488 H 1812 23

57 000001 1288 Société Générale S.A. (SocGen) 54 1206 229 563 1387 6868 1205 1296 220 2882112 1868 1811 2285 385 24

A.2.1 A.2.7 F.1.3 A.2.1 A.2.1 A.2.7 F.1.3 25

22 24 33.13 14 3 26

2 0/2 0.00% 3 5/8 62.50% 1 8/8 100.00% 5/8 62.50% 4 5/5 100.00% 8/8 100.00% 1/1 100.00% 5 3/4 75.00% 6 4/4 100.00% 1/1 100.00% 8/8 100.00% 1/1 100.00% 1. 2. 3. 4. 5. 6. 27

28

3.21 1 0/1 0.00% 2/2 100.00% 3 2/2 100.00% 2 1/1 100.00% 1. 2. 3. 29

2/3 66.67% 1 2/2 100.00% 2 1/1 100.00% 3/3 100.00% 1. 2. 30

1 1/1 0.00% 2 2/2 100.00% 3/3 100.00% 3/3 100.00% 1. 2. 31

1 380,000 2 1,028,000 3 87,000 1. 2. 3. 3.29 15 3.293.29 15 32

58 (2) (21) (i)(ii) (iii) (iv) (v) (vi) 8 4506-4509 89 (i) (ii) 33

(7) (7) (i) (ii) (iii) (iv) 13.51(2) 7 10 (i) (ii)(iii) (iv) 7 10 2 2/2 100.00% 1 2/2 100.00% 2/2 100.00% 3 2/2 100.00% 2/2 100.00% 4 1/1 100.00% 5 1/1 100.00% 2/2 100.00% 34

1. 2. 3. 4. 5. 7 10 2,902,215,360 0.01 (i) (ii) (iii) (iv) 35

38 79 36

37

6 52,727,655 27,676,408 (14,582,486) 28,790,609 25,468,016 (8,336,063) 1,902,037 4,109,435 929,464 (20,197,545) (38,605,051) 3,632,484 5,894,027 48,950,161 20,458,829 7 (391,188) (2,274,903) 8 48,558,973 18,183,926 (236,085) 2,003,487 (4,395,080) (929,464) (236,085) (3,321,057) 48,322,888 14,862,869 12 1.67 0.63 38

13 5,783 14 72,415,974 71,343,476 15 196,342,657 503,320,461 268,758,631 574,669,720 15 434,130,306 32,065,404 16 206,510 23,262,904 17 414,901,459 442,728,651 849,238,275 498,056,959 18 (2,840,963) (6,284,812) 846,397,312 491,772,147 1,115,155,943 1,066,441,867 19 (2,512,483) (2,121,295) 1,112,643,460 1,064,320,572 20 29,022,154 29,022,154 1,083,621,306 1,035,298,418 1,112,643,460 1,064,320,572 27 0.38 0.37 38 79 39

29,022,154 1,043,800,995 382,880,958 5,324,544 13,719,516 270,200 (425,560,664) 1,049,457,703 18,183,926 18,183,926 (4,395,080) (4,395,080) (929,464) (929,464) 2,003,487 2,003,487 (5,324,544) 2,003,487 18,183,926 14,862,869 29,022,154 1,043,800,995 382,880,958 15,723,003 270,200 (407,376,738) 1,064,320,572 48,558,973 48,558,973 (236,085) (236,085) (236,085) 48,558,973 48,322,888 29,022,154 1,043,800,995 382,880,958 15,486,918 270,200 (358,817,765) 1,112,643,460 622670 673 ING ING INGING 40

48,950,161 20,458,829 5,783 22,305 (1,902,037) (4,109,435) (3,632,484) (5,894,027) 14,582,486 (28,790,609) (25,468,016) 8,336,063 (929,464) 32,535,893 (10,906,338) 23,056,394 (6,599,705) (3,443,849) (4,908,940) 52,148,438 (22,414,983) (1,658,103) 52,148,438 (24,073,086) 1,902,037 4,109,435 2,323,901 1,606,425 16,709,762 32,785,952 38,247,010 78,000,000 39,000,000 (194,987,520) (349,812,500) (79,975,630) (250,139,868) (27,827,192) (274,212,954) 442,728,651 716,941,605 414,901,459 442,728,651 41

1. 26 2. 10 12 27 32 36 39 21 10 12 27 10 12 2710 42

2. 10 12 27 12 27 10 9 6 14 4 15 5 1 3 16 3 38 16 3 41 19 1 27 3 10 3 28 10 3 12 28 11 3 2 1 3 43

2. 10 12 27 1 2 3 4 5 6 9 9 9 9(a)(b) 9 39 99 9 9 39 39 9 44

2. 9 39 9 3. 2 17 236 45

3. (i) (ii) 46

3. 39 36 36 47

3. ( 48

3. 49

3. 39 23(c) 50

3. 51

3. 52

3. 53

3. 54

4. 3 15 630,472,963 503,320,461 55

4. 23 5. 72,415,974 71,343,476 5,783 72,415,974 71,349,259 56

6. 1,050,489 1,086,956 51,677,166 26,589,452 52,727,655 27,676,408 7. 1,658,103 19 391,188 616,800 391,188 2,274,903 10% 10% 57

7. 48,950,161 20,458,829 16.5% 8,076,777 3,375,707 448,766 2,084,806 (4,909,839) (3,835,333) (599,360) (972,514) (3,016,418) (655,276) 74 2,610 391,188 616,800 1,658,103 391,188 2,274,903 8. 1,020,000 900,000 9 400,000 400,000 10,562,382 15,877,981 434,385 555,938 11,396,767 16,833,919 183,334 400,000 5,783 22,305 2,876,834 3,429,702 13,283,461 1,012,787 649,217 58

9. a b c 100,000 100,000 d 100,000 100,000 e 66,667 66,667 f 33,333 33,333 100,000 100,000 400,000 400,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 400,000 400,000 (a) (b) (c) (d) (e) (f) 59

10. 9 7,079,062 7,776,116 280,953 351,872 7,360,015 8,127,988 1,000,001 1,500,000 3 2 1,500,001 2,000,000 2 3 5 5 11. 12. 48,558,973 18,183,926 60

12. 2,902,215,360 2,902,215,360 13. 401,733 357,522 759,255 401,733 329,434 731,167 22,305 22,305 401,733 351,739 753,472 5,783 5,783 401,733 357,552 759,255 5,783 5,783 33 1 /3% 33 1 /3% 759,255 732,274 61

14. 125,766,128 125,766,128 (53,350,154) (54,422,652) 72,415,974 71,343,476 25% 25% 25% 25% China Property Development 33.42% 33.42% 20.49% 20.49% (Holdings) Limited 62

14. 97,454,043 112,135,236 594,420,300 602,823,923 (392,241,756) (432,776,671) (12,042,543) 958,742,732 893,237,501 15,647,505 24,672,016 2,323,901 1,606,425 287,590,044 282,182,488 25% 25% 71,897,511 70,545,622 China Property Development (Holdings) LimitedCPDH 25,091,563 25,992,564 (23,540,205) (23,605,210) 63

14. China Property Development (Holdings) LimitedCPDH (835,996) (819,799) CPDH CPDH 1,551,358 2,387,354 CPDH 33.42% 33.42% CPDH 518,463 797,854 15. 1 32,065,404 2 (i) 182,587,019 179,203,034 2 1 (ii) 49,764,000 129,241,070 2 1 (iii) 202,868,576 194,876,357 2 (iv) 195,253,368 630,472,963 535,385,865 196,342,657 503,320,461 434,130,306 32,065,404 630,472,963 535,385,865 1 2 64

15. (i) North Sea Rigs Holdings Limited NSR Holdings NSR Holdings 5.0% 182,587,019 179,203,034 10% (ii) Jinqiao Investments LimitedJinqiao Jinqiao Jinqiao20,000,000 20%Jinqiao 13.50 740,740 Jinqiao 10,000,000 39,390,000 103,956,559 10,374,000 25,284,511 (iii) (i)25,000,0008% (ii)18,953,853 0.000001 201,779,287 193,394,545 1,089,2891,481,812 10% 65

15. (iv) 11,904 13,09623.81% 26.19%23.81% 76.19% Jinkosolar Power Engineering Group Limited 26,809 13,404 5,250 4.095 13,405 13,405 30 195,253,368 10% 23(c) 16. 6,288,965 505,294 16,028,325 206,510 440,320 206,510 23,262,904 66

17. 70,875,107 262,650,361 344,026,352 180,078,290 414,901,459 442,728,651 0.59% 1.2% 0.67% 1.36% 18. 2,840,963 6,284,812 19. 1,032,867 (1,032,867) 1,504,495 1,504,495 7 578,503 (578,503) 616,800 616,800 1,611,370 (1,611,370) 2,121,295 2,121,295 7 (1,611,370) 1,611,370 391,188 391,188 2,512,483 2,512,483 66,963,58295,010,784 85,244,904 27,80627,358 67

20. 0.01 12,000,000,000 120,000,000 2,902,215,360 29,022,154 21. (a) (b) (c) (d) 60,000 60,000 KBR Fund Management Limited KBR Management LimitedKBR KBR KBR 66,667 400,000 KBR 116,667 7,079,062 8,176,116 280,953 351,872 7,360,015 8,527,988 68

22. 23. (a) 11,463,289 58,831,727 619,009,674 476,554,138 630,472,963 535,385,865 22,822,584 414,901,459 442,728,651 414,901,459 465,551,235 69

23. (b) (i) 5% 892669,810 (ii) 20% 6,413,081 70

23. (b) (c) 71

23. (c) (i) 32,065,404 (ii) NSR Holdings 5% 182,587,019 NSR Holdings 5% 179,203,034 48.48% 3% 3,536,969 3,690,714 0.24% 27.27% 72

23. (c) (iii) Jinqiao 39,390,000 Jinqiao 103,956,559 28.82% (iv) Jinqiao 10,374,000 Jinqiao 25,284,511 28.82% (v) 201,779,287 193,394,545 17.49% 10% 7,440,014 8,071,626 0.12% 25.91% 73

23. (c) (vi) 1,089,289 1,481,812 0.54% 29.13% (vii) 195,253,368 17.33% 17.45% 3% 9,493,169 9,838,147 0.65% 64.55% 10% 5,297,147 2,979,246 74

23. (c) 630,472,963 630,472,963 32,065,404 503,320,461 535,385,865 32,065,404 503,320,461 535,385,865 75

23. (c) 37,133,167 205,395,356 242,528,523 23,938,331 23,938,331 (8,336,063) (8,336,063) 37,133,167 220,997,624 258,130,791 (4,395,080) (4,395,080) 349,812,500 349,812,500 (39,000,000) (39,000,000) (32,738,087) (28,489,663) (61,227,750) 503,320,461 503,320,461 (15,303,034) (15,303,034) 25,468,016 25,468,016 513,485,443 513,485,443 194,987,520 194,987,520 (78,000,000) (78,000,000) 630,472,963 630,472,963 76

23. (c) 10,164,98215,602,268 4,395,080 929,464 24. 1 64,711,400 1%10 (a) (b) (c) 77

25. (a) 5,783 18 18 196,342,657 503,320,461 53,752,444 53,741,048 250,095,119 557,067,310 434,130,306 32,065,404 88,131 7,234,579 363,509,916 407,240,704 797,728,353 446,540,687 2,840,963 6,161,812 106,358,626 106,352,172 109,199,589 112,513,984 688,528,764 334,026,703 938,623,883 891,094,013 29,022,154 29,022,154 909,601,729 862,071,859 938,623,883 891,094,013 (b) 29,022,154 1,043,800,995 270,200 (190,135,881) 882,957,468 8,136,545 8,136,545 29,022,154 1,043,800,995 270,200 (181,999,336) 891,094,013 47,529,870 47,529,870 29,022,154 1,043,800,995 270,200 (134,469,466) 938,623,883 78

26. Pacific Equity Venture Inc. 1 1 100% 100% Kencheers Investments Ltd. 1 1 100% 100% 1 1 100% 100% 27. 1,112,643,4601,064,320,572 2,902,215,360 2,902,215,360 79

52,727,655 27,676,408 1,018,899 623,390 479,060 48,950,161 20,458,829 (8,264,546) (16,257,587) (7,426,497) 5,783 28,088 65,862 85,366 72,415,974 71,343,476 65,052,387 64,108,384 59,195,669 37,133,167 31,808,623 31,808,623 196,342,657 503,302,461 205,395,356 13,043,394 2,185,745 268,758,631 574,669,720 307,608,998 109,026,263 93,275,403 434,130,306 32,065,404 36,970,473 30,710,674 17,030,506 206,510 23,262,904 634,874 1,845,618 3,347,904 414,901,459 442,728,651 716,941,605 153,102,049 200,621,488 849,238,275 498,056,959 754,546,952 185,658,341 220,999,898 (2,840,963) (6,284,812) (11,193,752) (9,406,991) (15,827,648) 846,397,312 491,772,147 743,353,200 176,251,350 205,172,250 1,115,155,943 1,066,441,867 1,050,962,198 285,277,613 298,447,653 (2,512,483) (2,121,295) (1,504,495) (1,100,000) (837,000) 1,112,643,460 1,064,320,572 1,049,457,703 284,177,613 297,610,653 29,022,154 29,022,154 29,022,154 9,822,154 9,822,154 1,083,621,306 1,035,298,418 1,020,435,549 274,355,459 287,788,499 1,112,643,460 1,064,320,572 1,049,457,703 284,177,613 297,610,653 80