China Chuanglian Education Group Limited (Incorporated in the Cayman Islands with limited liability) : 2371 Ecat.org.cn Exammm.com Chinanet.gov.cn Qianxue.chinahrt.com Dljxjy.edu.cn 2013

2 3 4 13 16 26 36 38 39 41 43 45 1

Citibank, N.A. Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 38 9 905-6 Royal Bank of Canada Trust Company (Cayman) Limited 4th Floor, Royal Bank House 24 Shedden Road, George Town Grand Cayman KY1-1110 Cayman Islands 33 18 www.chinahrt.com 2371 2

98,350 22,748 58,169 30,970 31,334 73,004 (644,489) (43,655) (33,766) 424 10,383 (702,236) (146,841) (105,290) (9,233) 7,712 (701,309) (145,840) (105,150) (9,233) 2,671 (927) (1,001) (140) 10,383 (702,236) (146,841) (105,290) (9,233) 0.33 (35.34) (8.30) (8.50) (2.24) 498,528 30,572 684,787 674,587 33,967 133,329 62,599 66,850 110,075 149,586 70,110 (59,174) (40,316) (25,601) (13,903) 63,219 3,425 26,534 84,474 135,683 (26,655) (43,519) (37,703) (73,129) (2,539) 132 (795) (816) 532,553 (9,390) 672,823 685,116 169,650

98,350,000 22,748,000 332.3% 437,00030,690,00067,223,000 10,240,00012,508,000 35,204,00042,425,000 17.02% 7,712,000(701,309,000) 0.33 (35.34) (i) LED (ii) 30 Housden Holdings LimitedHousden 4

2013 8 1 2 201344209169 GSV 2017 2555 23% 2012 2012 7232017 31.7%1700 20137 5 54% 2013-2017 90/110/ 40% 5

B2B B2C Smart Century Investment Limited 49% Apex One Enterprises LimitedApex One20,000,000 Apex One Apex One 11,740,000 50,917,000 19,965,000 63,219,000 3,425,0001.90 1.06 15.3% 110.2% 6

236,902,000202,194,000 2,369,022,5780.10 0.2371,900,000 100,000,000 0.519 0.29 0.281 0.2950,000,000 10,662,75688,967,96965,554,6140.315 30,000,000 0.29 15,000,000 0.21 950,000,000 199,500,000 Housden Holdings Limited Talent Group Development LimitedTalent Group Headwind Holdings LimitedHeadwindHousden Holdings LimitedHousden HeadwindHousdenTalent Group HeadwindHousden 199,500,000 Housden 0.21950,000,000(i) (ii)199,500,000 Housden Housden Headwind950,000,000Headwind 1,900,000,000 7

Housden Talent Group 14.06Housden Housden 14A A. 20 90% 90% HousdenHousden 14A 8

Housden ICP 927 5 B. 20 60% HousdenHousden 51% 14A 9

(i) (ii) 94,082 14,147 14A.38 15,000,000 0.29 30,000,000 0.1 0.315 10

LED 12,378,000 LED7,500,000 7,500,000 7,500,000 10,953,000129,000 3,222,000 11

Housden Holdings Limited 100% 399,000,000320,000,000 12260 12,639,0008,684,000 75,760,000 12

44 20 4613 (CRI) Asia Media

37 8 53 55 34

64 38 15 10 4519 46University of Strathclyde

43 (i) LED(ii) 8 38 17 33 41 42 16

3.13 17

10 1.00 (i) (ii) (iii) 10% 30% 36,400,000 75,760,0003.20% 18

1%1% 10 38 3,000,000 (3,000,000) 0.96 980,000 980,000 0.58 5,000,000 5,000,000 0.55 5,000,000 (5,000,000) 0.96 2,000,000 2,000,000 0.56 500,000 (500,000) 0.96 460,000 460,000 0.58 1,900,000 (1,900,000) 3 0.237 500,000 2 500,000 0.37 5,000,000 5,000,000 0.58 17,300,000 (17,300,000) 0.58 1,500,000 (1,500,000) 0.96 1 1 1,500,000 (1,500,000) 0.58 44,140,000 500,000 (1,900,000) (28,800,000) 13,940,000 19

19,200,000 (19,200,000) 0.96 4,360,000 (1,200,000) 3,160,000 0.85 6,960,000 6,960,000 0.58 3,000,000 3,000,000 0.53 4,800,000 4,800,000 0.55 8,000,000 (8,000,000) 0.366 32,900,000 2 46,320,000 32,900,000 (28,400,000) 50,820,000 32,900,000 0.37 5,000,000 5,000,000 0.53 45,000,000 (42,000,000) 3,000,000 0.56 2,000,000 (2,000,000) 0.366 3,000,000 2 52,000,000 3,000,000 (42,000,000) 13,000,000 142,460,000 36,400,000 (1,900,000) (99,200,000) 75,760,000 3,000,000 0.37 1. 2. 0.3400 3. 0.5100 20

XV 352 2,432,000 8,980,000 11,412,000 0.56% 2,000,000 2,000,000 0.09% 960,000 960,000 0.04% 1,900,000 1,900,000 0.09% 500,000 500,000 0.00% 5,000,000 5,000,000 0.24% XV 352 21

336 1 356,639,306 406,859,306 17.17% 2 50,220,000 2 50,220,000 406,859,306 17.17% 1 356,639,306 Rotaland Limited 1 355,139,306 355,139,306 14.99% 3 2,031,728,323 2,031,728,323 85.76% Ascher Group Limited 3 131,728,323 131,728,323 5.56% Headwind Holdings Limited 3 1,900,000,000 1,900,000,000 80.20% 1. 356,639,306Rotaland Limited355,139,306Similan Limited1,500,000Rotaland Limited Similan Limited 2. 50,220,000 3. 2,031,728,323Headwind Holdings Limited 1,900,000,000Ascher Group Limited 131,728,323Headwind Holdings Limited Ascher Group Limited 336 22

38% 98% 23% 63% 5% 41 China Oriental Culture Group LimitedChina Chuanglian Education Group Limited C ORI CULTUREC CHUANGLIAN ED 23

33 18 0.2371,900,000 100,000,000 0.519 0.29 0.281 0.2950,000,000 10,662,75688,967,96965,554,6140.315 30,000,0000.29 15,000,000 0.21 950,000,000 199,500,000 13.51B(1) 24

2635 25

26

3.10(1) 3.10A 3.10(2) 3.13 27

37 37/37 4/18 5/37 1/3 4/18 5/37 26/37 32/37 3 3/3 0/1 1/3 0/2 2/3 0/3 0/3 28

A.6.5 A.2.1 A.4.1 29

13 1,000,000802,000 4 1,500,001 2,000,0001,203,000 1,604,000 1 30

1/1 1/1 1/1 31

1 t 1/1 1/1 1/1 3.21 3.21 3 32

3/3 3/3 3/3 D.3.1 (a)(b) (c)(d) (e) 1,000,000 1,000,000 1,000,000 2,000,000 33

34

3.29 15 58 35

38 138 36

P05589 37

7 98,350 22,748 (25,346) (667,237) 73,004 (644,489) 9 4,162 4,031 (3,936) (805) (35,204) (42,425) 29 (3,222) (7,500) 7,520 32 (15,263) 1,384 10 (5,534) (8,810) 21,527 (698,614) 11 (11,144) (3,622) 12 10,383 (702,236) (4,711) (702) 5,672 (702,938) 7,712 (701,309) 2,671 (927) 10,383 (702,236) 3,001 (702,011) 2,671 (927) 5,672 (702,938) 16 0.33 (35.34) 38

17 10,730 6,909 18 111,925 3,395 19 373,920 18,262 20 21 22 23 1,953 2,006 498,528 30,572 24 70,320 35,336 25 11,740 7,095 25 352 25 203 26 50,917 19,965 133,329 62,599 27 27,969 16,208 28 240 28 1,563 29 10,722 7,500 11,856 3,559 30 18,000 18,000 31 6,413 32 7,254 70,110 59,174 63,219 3,425 561,747 33,997

33 205,864 178,517 34 67,027 259,662 (187,907) 532,553 (9,390) 2,539 (132) 535,092 (9,522) 31 43,519 35 26,655 26,655 43,519 561,747 33,997 38 138

a b c d 171,828 648,716 15,536 (2,476) 28,900 595 47,220 1,927 (239) (239,184) 672,823 795 673,618 (701,309) (701,309) (927) (702,236) (702) (702) (702) (702) (701,309) (702,011) (927) (702,938) 38 127 127 127 33 5,054 20,443 (8,695) 16,802 16,802 1,635 1,308 2,943 2,943 (74) (74) (74) 178,517 670,393 15,536 (3,178) 20,205 595 47,347 1,927 (239) (940,493) (9,390) (132) (9,522)

a b c d 178,517 670,393 15,536 (3,178) 20,205 595 47,347 1,927 (239) (940,493) (9,390) (132) (9,522) 7,712 7,712 2,671 10,383 (4,711) (4,711) (4,711) (4,711) 7,712 3,001 2,671 5,672 38 1,169 1,169 1,169 149 326 (123) 352 352 33 16,992 77,963 (20,205) 74,750 74,750 34 74,874 82,361 70,500 227,735 227,735 40(i) 227,735 227,735 227,735 7,847 (7,847) 2,359 5,073 7,432 7,432 (231) (231) (231) 205,864 67,027 835,885 15,536 (7,889) 595 48,393 1,927 297,996 (932,781) 532,553 2,539 535,092 (a) (b) 37.4(a) (c) (d) (i) (ii) Housden Holdings Limited

21,527 (698,614) 5,534 8,810 (55) (16) (550) (1,000) (1,792) (3,000) (1,761) 4,288 38,369 4,510 3,586 2,803 610,814 9,967 381 (7,520) 1,169 127 9 1,017 203 40 (12) 15,263 (1,384) 3,222 7,500 46,841 (23,446) (29,749) 18,997 2,816 (17,371) 19,908 (21,820) (3,890) (54) 16,018 (21,874) 43

2,626 3,653 40 9,607 58 55 16 (4,925) (278) 7,363 3,449 20,000 7,432 2,943 1,563 1,761 (65) (231) (74) (321) (360) (381) (2,338) (1,790) 7,827 20,312 31,208 1,887 19,965 18,194 (256) (116) 50,917 19,965 44

45 1. 43 2. 1 7 10 11 12 10 11 12 13 19 27 28 36 * 20 *

2. 1 1 1 1(a) (b) 1 7 7 7 a) 32 b) 32 7 46

2. 101112 2728 10 11 12 27 10 1027 1210 a)b) c) 10 10 10 10 47

2. 11 11 31 13 28 11 11 11 31 31 48

2. 12 12 12 20 42 13 13 13 1313 2 17 13 13 13 13 13 136 13 49

2. 19 19 19 19 19 19 19 19 36 36 36 13 13 50

2. 9 3 14 4 9 7 10 12 27 2 2 9 3 1 19 2 32 1 39 1 1 21 1 2 3 99 99 4 9 9 9 51

2. 9 9 39 9 9 39 9 52

2. 32 32 32 32 3. 217 2 36 53

3. 54

3. 3937 55

3. 56

3. 39 36 36 57

3. 58

3. 59

3. 60

3. 61

3. 62

3. 63

3. 64

3. 65

3. 66

3. 67

3. 68

3. 69

3. 4. 3 70

4. i. 29 LED 12,378,000LED 570,000 570,0001,017,000 1,017,000 LED 7,500,000 7,500,0007,500,000 10,593,000129,000 3,222,0003,222,000 ii. 71

4. 10,730,000 6,909,0001,017,000 1,017,000 4 111,925,000 3,395,000613,806,000 611,989,000 18 72

4. 373,920,000 18,262,00019 5,000,000 39 1,953,000 2,006,000 73

4. 4,691,000 10,396,000 70,320,000 35,336,000 7,396,000 15,228,00011,740,000 7,095,000 3,466,000 3,788,000 74

4. 5. 75

6. (a) 132,651 62,422 1,953 2,006 42,539 84,219 7,254 (b) (i) 76

6. (b) (i) 32 876 20,118 863 14 10% 10% 10%10% 10%10% 10% 10% 10%10%) 77

6. (b) (i) 10% (70) (1,680) 10% 65 1 (ii) 3031 26 5050 78

6. (b) (ii) 5050 188,000 81,000 (iii) 31 20% 2,384,000 79

6. (b) 203,000 9,467,000 7,396,00018,974,00015,228,000 11,740,000 7,095,000 100%100%) 74%17%74% 29% 80

6. (b) 1 1 2 2 5 22,976 22,976 22,976 1,563 1,563 1,563 18,360 18,360 18,000 42,899 42,899 42,539 16,047 16,047 16,047 240 240 240 18,360 18,360 18,000 10,248 32,928 22,628 65,804 49,932 44,895 32,928 22,628 100,451 84,219 81

6. (c) 7. 8. 8 1. LED 2. 3. 4. 40 82

8. 437 30,690 67,223 98,350 (13,030) 18,311 52,092 57,373 (15,263) 7,520 1,792 59 (24,420) (5,534) 21,527 83

8. 10,240 12,508 22,748 (638,773) (27,592) (666,365) 1,384 31 (24,854) (8,810) (698,614) 3 84

8. 5,228 6,305 45,934 26,726 500,187 551,349 33,031 80,508 60,140 631,857 93,171 14,350 11,276 28 100 10,023 24,401 11,376 72,364 91,317 96,765 102,693 85

8. 3,450 28 480,145 1,238 484,861 2,466 4 4,637 1,691 8,798 2,803 2,803 203 203 3,222 3,222 (1,792) (1,792) (7,520) (7,520) (363) (187) (550) (55) (55) 5,534 5,534 1,169 1,169 15,263 15,263 86

8. 2 32 276 310 35,971 4,362 1,622 41,955 574,877 35,937 610,814 7,810 2,157 9,967 381 381 9 9 1,017 1,017 7,500 7,500 (3,000) (3,000) (1,000) (1,000) (16) (16) 8,810 8,810 127 127 (1,384) (1,384) 87

8. 493,152 24,598 3,423 3,968 496,575 28,566 10% 1 18,733 3 1 18,304 3 1 13,553 3 2 3 4,142 1 2 3 10% 88

9. 1,792 3,000 1,761 550 1,000 55 16 40(ii) 12 4 3 4,162 4,031 1,761,000 10. 360 381 31 5,174 8,429 5,534 8,810 11. 11,910 3,622 35 (766) 11,144 3,622 25% 89

11. 16.5% 21,527 (698,614) 25%25% 5,382 (174,653) 11,111 113,974 (1,701) (152) (1,510) (92) 2,778 6,694 (4,919) 3 57,851 11,144 3,622 25%25%) 92,572,000 87,500,000 53,690,00041,945,00053,690,00043,089,000 50,627,000 44,411,000 3,450,000 9,056,000 90

12. 13 2,052 2,275 8,859 6,105 1,057 671 304 12,639 8,684 791 561 96 4,510 3,586 4,288 38,369 9,967 203 381 126 17 2,803 610,814 1,017 9 7,445 8,817 91

13. 97 2 99 500 14 514 496 11 507 198 296 9 503 55 13 68 95 21 116 95 21 116 92 21 16 129 535 1,465 36 16 2,052 92

13. 607 19 626 511 19 530 504 12 516 96 23 119 56 23 79 80 23 103 96 23 119 33 23 127 183 361 1,737 50 127 2,275 93

14. 13 770 1,209 12 28 782 1,237 1,000,000802,000 816,000 1 2 15. 94

16. 7,712 (701,309) 2,358,495 1,984,410 40 95

17. 6,390 169 2,989 4,400 1,587 15,535 (37) (1) (2) (41) (81) 254 5 19 278 40 32 32 (7) (17) (24) 6,607 166 3,021 4,359 1,587 15,740 (110) (4) (5) (99) (218) 4,624 101 200 4,925 40 994 511 1,221 780 3,506 12,115 774 4,437 5,040 1,587 23,953 2,554 62 567 1,081 4,264 (10) (1) (1) (9) (21) 2,154 33 809 590 3,586 (5) (10) (15) 1,017 1,017 4,698 89 1,365 1,662 1,017 8,831 (74) (3) (3) (38) (118) 2,653 166 1,050 641 4,510 7,277 252 2,412 2,265 1,017 13,223 4,838 522 2,025 2,775 570 10,730 1,909 77 1,656 2,697 570 6,909 96

17. 20% 33% 20% 33% 12.5% 20% 1,017,000 1,017,000 18. LED i ii iii iv iv 680,320 44,039 1,188 725,547 (479) (13) (492) 680,320 43,560 1,175 725,055 40 8,417 108,274 116,691 (1,157) (31) (25) (1,083) (2,296) 680,320 42,403 1,144 8,392 107,191 839,450 68,032 3,303 1,188 72,523 34,016 4,353 38,369 574,877 35,937 610,814 (33) (13) (46) 676,925 43,560 1,175 721,660 200 1,457 2,631 4,288 2,803 2,803 (1,157) (31) (5) (33) (1,226) 679,928 42,403 1,144 1,452 2,598 727,525 392 6,940 104,593 111,925 3,395 3,395 97

18. (i) LEDLED Precious Luck Enterprises LimitedPrecious Luck 20 16 17 20.71% 21.75%) 5 50% LED LEDLED LED 2,803,000 574,877,000 98

18. (ii) 10 17.14%3 35,937,000 (iii) 10 1,464,0001,229,000 99

18. (iv) Housden Holdings 38 Housden Holdings Housden Holdings 15 8,417,000108,274,000 4 20.72%4 3% 100

19. 18,463 (201) 18,262 40 359,739 (4,081) 373,920 373,920 18,262 17,777 18,262 Housden Holdings 356,143 373,920 18,262 101

19. 5 21.10%17.14% 5 3 0%0%) Housden Holdings Housden HoldingsHousden Holdings 4 20.72%43% 102

20. Apex One Enterprises LimitedApex One 49% 49% (4,187) 509 3,988 8,175 103

21. 11,936,00010,108,000 1,464,000 1,229,000 10,472,0008,545,000 22. Precious Luck Precious Luck 5,000,000 104

23. 1,953 2,006 24. 29,096 15,400 (4,606) (6,967) 24,490 8,433 23,786 4,923 (85) (429) 23,701 4,494 21,451 25,232 (3,000) 21,451 22,232 678 177 70,320 35,336 105

24. 30 211 4,832 31 60 18,461 3,375 61 180 739 181 365 4,579 365 500 226 24,490 8,433 19,257,000 4,832,000 31 60 3,375 61 180 221 181 365 4,512 365 500 226 5,233 3,601 5,233,000 3,601,000) 106

24. 6,967 (2,174) 6,967 (187) 4,606 6,967 4,606,000 6,967,000 3,429 1,436 (8) (7) 3,000 (2,973) (363) (1,000) 85 3,429 85,000 3,429,000 25,000,00019,531,000 25,000,00020,065,00018,000,000 30 107

25. 9,467,000 7,396,00018,974,00015,228,000 203,000 352,000 26. 0.010.35 0.010.50 32 863 14 27. 3,792 3,715 2,574 3,663 4,993 161 16,610 8,669 27,969 16,208 108

27. 30 177 100 31 60 205 181 365 3,410 3,615 3,792 3,715 876 899 28. 29. LED 12,378,000 LED7,500,000 109

29. 7,500,000 7,500,000 10,953,000129,000 3,222,000 30. 18,000 18,000 18,000,000 18,000,000 2 2 25,000,00019,531,00025,000,000 20,065,000 110

31. (i) 756,000,000659,262,000 Precious Luck 0.519 25 17,970 28,900 46,870 10 3,143 3,143 33 (6,966) (8,695) (15,661) (199) (199) 13,948 20,205 34,153 10 1,657 1,657 33 (15,401) (20,205) (35,606) (204) (204) 111

31. (ii) 25,000,0008 0.49 8 0.49 80.1% 0.29 25.26 15,000,000 31(iv) 112

31. (ii) 34 19,733 7,247 26,980 10 5,163 5,163 (1,790) (1,790) (947) (947) 33 (6,792) (3,044) (9,836) (282) (69) (351) 16,032 3,187 19,219 10 1,821 1,821 (600) (600) (2,457) (174) (2,631) 33 (3,060) (3,060) (15,000) (15,000) 204 47 251 (iii) 25,000,00020,000,000 10 0.281 10 113

31. (iii) 10.68 34 19,765 235 20,000 10 123 123 43 43 64 1 65 19,952 279 20,231 10 1,078 1,078 (1,180) (1,180) 10,896 10,896 33 (19,609) (11,168) (30,777) (241) (7) (248) 114

31. (iv) 15,000,0008 0.29 8 10.38 34 31(ii) 13,891 1,109 15,000 10 618 618 (558) (558) 11,160 11,160 33 (13,801) (12,140) (25,941) (150) (129) (279) 115

31. (iv) 43,519 6,413 49,932 32. 16,032 31(ii) (iii) (iv)) 4,340 7,247 11,587 31(iii) 235 235 31(ii) (3,044) (3,044) (480) (904) (1,384) (72) (68) (140) 3,788 3,466 7,254 31(iv) 1,109 1,109 31 (ii) (iii) (iv) (23,482) (23,482) (3,733) 18,996 15,263 (55) (89) (144) 116

32. 74,000,000 62,156,00010,000,0008,400,000 100,000,000 24,000,000 2,014,000 1,692,000 4,720,0003,733,000 599,000 480,000 3,187 33. 0.1 10,000,000 10,000,000 1,000,000 1,000,000 879,100 879,100 2,021,937 1,939,436 202,194 193,944 178,517 171,828 a b) 215,186 62,501 21,518 6,250 16,992 5,054 c 100,000 10,000 7,847 d 1,900 190 149 e f) 30,000 20,000 3,000 2,000 2,359 1,635 2,369,023 2,021,937 236,902 202,194 205,864 178,517 117

33. (a) 25,950,000 0.519 50,000,0000.1 2,500,000 3,092,000 0.2910,663,0000.1 25,000,000 0.281 88,968,0000.1 15,000,000 19,010,000 0.2965,555,0000.1 (b) 15,917,000 0.519 30,668,0000.1 7,500,000 9,232,000 0.2931,833,0000.1 (c) (d) (e) 100,000,0000.1 100,000,0000.1 38(a) 1,900,000 0.237 0.31530,000,000 0.10 5% (f) 0.1820,000,000 0.10 24% 118

34. 0.1 2,000,000 200,000 157,629 2,000,000 200,000 157,629 950,000 95,000 74,874 (100,000) (10,000) (7,847) 850,000 85,000 67,027 2,000,000,0000.1 950,000,0000.1 Housden Holdings Limited33(c) 0.21 (i) (ii) (iii) (1) 26 (2)25% 119

35. 40(i) 27,687 (766) (266) 26,655 36. 6,385 2,926 3,758 733 10,143 3,659 37. 320,225 Housden Holdings Limited 399,000,000320,225,000 1,900,000,000 0.21 120

38. (a) 1.00 30 (i)(ii) (iii) 30% 10%12 1% 121

38. (a) 1.27 0.59 1.80 1.46 0.96 0.85 0.58 0.53 0.56 0.55 0.37 0.24 0.51 0.40 0.32 0.28 0.19 0.14 0.19 0.19 0.11 0.08 0.37 0.15 122

38. (a) 5,000,000 (5,000,000) 25,240,000 (18,800,000) 6,440,000 5,000,000 5,000,000 1,900,000 (1,900,000) 500,000 500,000 24,200,000 (24,200,000) 4,360,000 (1,200,000) 3,160,000 6,960,000 6,960,000 3,000,000 3,000,000 2,000,000 2,000,000 4,800,000 4,800,000 8,000,000 (8,000,000) 3,000,000 3,000,000 5,000,000 5,000,000 45,000,000 (42,000,000) 3,000,000 2,000,000 (2,000,000) 32,900,000 32,900,000 142,460,000 36,400,000 (1,900,000) (101,200,000) 75,760,000 50,280,000 0.64 0.37 0.24 0.66 0.54 123

38. (a) 5,000,000 5,000,000 25,240,000 25,240,000 5,000,000 5,000,000 1,900,000 1,900,000 24,200,000 24,200,000 4,600,000 (240,000) 4,360,000 6,960,000 6,960,000 3,000,000 3,000,000 2,000,000 2,000,000 5,000,000 (200,000) 4,800,000 8,000,000 8,000,000 5,000,000 5,000,000 45,000,000 45,000,000 2,000,000 2,000,000 141,000,000 1,900,000 (440,000) 142,460,000 142,460,000 0.64 0.24 0.71 0.64 0.47 124

38. (a) 1.27 1.70 1.45 0.96 0.85 0.58 0.48 0.56 0.55 0.35 0.24 0.35 1.27 1.80 1.46 0.96 0.85 0.58 0.53 0.56 0.55 0.37 0.24 0.37 96.7% 63.17% 58.52% 70.48% 69.54% 68.08% 69.73% 77.88% 72.07% 71.19% 75.59% 73.09% 1.6 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 3 0.39% 0.44% 0.45% 0.45% 0.44% 0.32% 0.22% 0.20% 0.16% 0.21% 0.27% 0.80% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 1,478,0001,169,000158,000127,000 125

38. (b) 18,000,000 4.5% 0.20 20% 100% 39. 5% 1,0001,250 160,000 155,000 126

39. 547,000 199,000 40. (i) Headwind Holdings Limited Housden Holdings LimitedHousden Holdings 199,500,000 950,000,000950,000,000 1,900,000,000399,000,000 Housden Holdings 116,691,000 147,871,000 359,739,000 420,775,000 227,735 227,735 455,470 127

40. (i) Housden Holdings950,000,0000.1 950,000,000 288,585,000227,735,000 288,585,000 227,735,000 3,506 18 116,691 4,976 118 9,607 (11,085) (27,687) (395) 95,731 4,976,000 4,976,000 455,470 (95,731) 359,739 Housden HoldingsHousden Holdings Housden Holdings 128

40. (i) 9,607 Housden Holdings 47,816,000 Housden Holdings67,223,000 110,443,000 7,159,000 Housden Holdings 129

40. (ii) 3,000,000 12,000 3,000 32 26,412 58 (23,197) (293) 3,012 3,000 (3,012) (12) 58 130

40. (ii) 6,724,000 12,240,000 23,187,000 713,932,000 41. (a) (b) 2,770 3,307 48 78 16 127 2,834 3,512 131

42. 1,967 1,444 (a) 19 19 1,986 1,463 20,307 20,690 (b) 485,629 29,875 (b) 352 2,207 15,825 508,495 66,390 1,332 1,726 (b) 1,563 6,413 3,466 2,895 11,605 505,600 54,785 507,586 56,248 205,864 178,517 67,027 (c) 234,695 (151,840) 507,586 26,677 29,571 507,586 56,248 132

42. (a) (b) (c) 648,716 57,814 2,421 28,900 595 47,220 1,927 (292,829) 494,764 (651,860) (651,860) (7,853) (7,853) (7,853) (651,860) (659,713) 38 127 127 33 20,443 (8,695) 11,748 1,308 1,308 (74) (74) 670,393 57,814 (5,432) 20,205 595 47,347 1,927 (944,689) (151,840) 133

42. (c) 670,393 57,814 (5,432) 20,205 595 47,347 1,927 (944,689) (151,840) (52,639) (52,639) (5,394) (5,394) (5,394) (52,639) (58,033) 38 1,169 1,169 326 (123) 203 33 77,963 (20,205) 57,758 34 82,361 70,500 152,861 40(i) 227,735 227,735 5,073 5,073 (231) (231) 835,885 57,814 (10,826) 298,235 595 48,393 1,927 (997,328) 234,695 134

43. 3,000,000 98% 98% 45,965,860 97.82% 97.82% LED 2,000,000 100% 100% Precious Luck 100 100% 100% 1,000,000 98% 98% 2,000,000 51% 51% LED Sino Advantage Asia Limited 1,000 100% 100% China Oriental Culture 1 100% 100% (Hong Kong) Limited 135

43. Star Apex Investment Limited 1,000 100% 100% Perfection Asia Limited 1 100% 100% Housden Holdings Limited 1 100% 28,146,300 100% 27,070,700 100% 11,000,000 100% 1,020,000 51% 136

43. 3 5 4 4 1 1 3 3 6 6 17 19 49% 2,960 2,960 (421) (132) 2,539 (132) 137

43. 7,487 942 (11,491) (6,022) 2,960 23,861 (17,820) 6,041 3,081 2,960 6,041 5,435 (67) (3,449) 1,919 138