2 3 4 6 8 16 32 46 48 51 65 73 75 76 77 80 82 84 86 169 52 55

公司架構 於二 一三年十二月三十一日 廣州越秀集團有限公司 100% 越秀企業 集團 有限公司 49.68% 越秀地產股份有限公司 股份代號 00123 35.69% 越秀房地產 投資信託基金 股份代號 00405 2

620 Avenue of the Americas, 6th Floor New York, NY 10011, USA (646) 885 3218 (646) 885 3043 http://www.yuexiuproperty.com http://www.irasia.com/listco/hk/yuexiuproperty http://www.hkexnews.hk 160 26 183 22-00123 -123.HK -123 HK 350,000,000 3.25 4596 500,000,000 4.50 4597 (852) 2593 2326 (852) 2511 0832 ir@yuexiuproperty.com 2013 3

14,208,873 8,119,945 9,569,006 5,633,963 4,670,531 4,104,453 3,857,881 4,004,094 1,881,263 1,633,903 2,880,343 2,481,834 5,235,666 918,840 646,013 0.3094 0.2672 0.5640 0.1228 0.0906 8,374,233 9,263,401 6,127,658 7,472,712 6,173,115 78,070,648 69,996,933 61,213,284 50,799,557 36,953,836 46,280,399 42,440,452 37,854,687 31,477,818 25,954,199 24,175,205 22,158,140 20,186,647 15,662,746 12,075,749 2.593 2.383 2.174 1.708 1.692 5,000 4,000 3,000 2,000 1,000 0 4

6,000 80,000 5,000 4,000 70,000 60,000 50,000 3,000 40,000 2,000 1,000 30,000 20,000 10,000 0 0 25,000 3.0 20,000 2.5 15,000 2.0 1.5 1,0000 1.0 5,000 0.5 0 0.0 2013 5

3.5 5 5 10 3.25% 4.5% BBB- Baa3 24.61 2013 4 9 16 279 6

2013 90.1-30 2013 2013 2012 ARC - MERCURY 2013 146.34 19.0% 145 2013 7

7.7% 26.3% 17.3% 7.7% 142.09 75.0% 145.73 62.3% 28.9% 28.80 16.1% 0.3094 15.8% * 15.40 28.8% 0.035 0.027 0.049 0.039 0.084 0.066 40% * 2013 11

146.34 115.52 19.0% 11.6% 132 145 3.5 5 5 10 3.25% 4.5% BBBBaa3 43:57 5.59% 201.24 275 58.17 1,526 1,259 12 12

93% + + 92.6% 88.0% 85.4% 15.2 2013 2013 ARC 2013 13

7.5% 220 146.34 50% 14

+ + 2013 15

142.09 81.20 75.0% 145.73 89.76 62.3% 41.04 38.58 6.4% 28.9% 18.6 28.80 24.82 16.1% 15.40 11.96 28.8% 146.34 19.0% 145 100.9% 115.52 11.6% 119 97.1% 12,700 6.7% 29 18

1 1,100 0.44 40,000 2 10,900 3.77 34,600 3 13,300 3.81 28,600 4 1,900 0.54 28,400 5 4,400 0.95 21,600 6 4,900 2.63 53,700 7 44,800 7.39 16,500 8 43,500 10.33 23,700 9 40,800 8.68 21,300 10 38,200 8.58 22,500 11 77,500 11.08 14,300 12 47,500 5.77 12,100 13 176,900 17.85 10,100 14 15,800 1.18 7,500 15 79,900 14.71 18,400 16 1,400 0.23 16,400 17 34,100 2.06 6,000 18 4,100 0.50 12,200 29,400 5.28 18,000 670,600 105.78 15,800 19 102,200 6.99 6,800 20 60,000 4.19 7,000 21 10,400 0.86 8,300 172,600 12.04 7,000 22 67,600 3.86 5,700 23 52,000 4.20 8,100 119,600 8.06 6,700 24 86,400 13.69 15,800 25 2,300 0.24 10,400 88,700 13.93 15,700 26 岄 5,300 0.42 7,900 27 20,300 1.51 7,400 28 21,500 1.46 6,800 29 56,800 3.14 5,500 103,900 6.53 6,300 1,155,200 146.34 12,700 2013 19

72.3% 8.2% 5.5% 9.5% 4.5% 90% 10% 3.64 135.09 73.1% 2.02 93.82 67.2% 14,400 1 87,200 25.67 29,400 2 2,900 1.15 39,700 3 13,300 3.80 28,600 4 33,700 6.06 18,000 5 124,500 18.43 14,800 6 67,100 14.38 21,400 7 93,900 18.04 19,200 8 46,400 9.61 20,700 9 58,000 7.61 13,100 10 103,300 7.01 6,800 11 23,800 1.75 7,400 12 4,000 0.48 12,000 8,000 1.32 16,500 20,200 3.64 18,000 686,300 118.95 17,300 13 33,900 2.74 8,100 14 117,600 6.86 5,800 151,500 9.60 6,300 15 岄 4,800 0.37 7,700 16 95,600 6.17 6,500 100,400 6.54 6,500 938,200 135.09 14,400 20

129.14 113.34 11,400 87.95 1 2,000 0.55 27,500 2 700 0.35 50,000 3 3,500 0.63 18,000 4 19,600 4.98 25,400 5 4,400 0.95 21,600 6 51,200 11.56 22,600 7 9,300 1.66 17,800 8 29,900 6.92 23,100 9 9,800 1.97 20,100 10 6,400 1.52 23,800 11 51,900 7.46 14,400 12 73,800 8.77 11,900 13 199,800 20.06 10,000 14 79,900 14.71 18,400 15 1,400 0.23 16,400 16 2,700 0.16 5,900 17 100 0.01 10,000 18 34,100 2.06 6,000 21,400 2.43 11,400 601,900 86.98 14,500 19 77,800 4.86 6,200 20 43,300 2.94 6,800 21 10,400 0.86 8,300 131,500 8.66 6,600 22 166,100 8.87 5,300 23 52,000 4.20 8,100 218,100 13.07 6,000 24 94,600 14.88 15,700 25 2,300 0.24 10,400 96,900 15.12 15,600 26 岄 5,200 0.47 9,000 27 20,300 1.51 7,400 28 2,700 0.19 7,000 29 56,800 3.14 5,500 85,000 5.31 6,200 1,133,400 129.14 11,400 2013 21

201.24 274.53 1 100% 161,600 386,100 3.39 2 95.48% 42,700 152,600 24.61 3 100% 67,000 227,200 16.08 4 20% 12,300 63,800 5.84 5 19% 56,000 299,200 17.72 6 7.6% 189,500 950,000 90.10 7 4.77% 147,200 666,400 43.50 676,300 2,745,300 201.24 1,526 40 12 1,259 37.6% 15.2% 13.4% 18.1% 14.5% 0.7% 0.5% 57.9% 42.1% 22

1 95% 211,500 211,500 2 95% 232,000 232,000 3 95% 34,900 34,900 4 95% 25,600 25,600 5 95% 9,600 9,600 6 95.48% 152,600 152,600 7 99.06% 53,000 53,000 8 100% 205,300 205,300 9 95% 40,000 40,000 10 95% 305,000 305,000 11 95% 134,000 134,000 12 95.48% 2,286,100 958,000 1,328,100 13 95% 323,400 323,400 14 95.48% 325,000 325,000 15 47.74% 446,200 446,200 16 4.77% 666,400 666,400 17 95.48% 188,700 188,700 103,800 43,700 60,100 5,743,100 3,535,900 2,207,200 18 95% 390,400 331,100 59,300 19 95% 283,000 137,300 145,700 20 100% 152,700 152,700 21 95% 478,700 113,000 365,700 22 100% 427,300 130,600 296,700 23 95% 290,700 290,700 24 19% 299,200 277,700 21,500 2,322,000 1,433,100 888,900 2013 23

25 岄 99.95% 290,700 20,800 269,900 26 100% 519,900 175,500 344,400 27 100% 181,300 170,000 11,300 28 100% 589,900 195,200 394,700 29 100% 466,400 215,800 250,600 2,048,200 777,300 1,270,900 30 100% 1,920,800 595,100 1,325,700 31 100% 227,200 129,100 98,100 32 20% 63,800 63,800 33 48.45% 549,000 175,000 374,000 2,760,800 899,200 1,861,600 34 100% 661,500 661,500 35 95.48% 604,100 414,100 190,000 36 7.6% 950,000 950,000 2,215,600 1,075,600 1,140,000 37 47.50% 98,000 98,000 15,187,700 7,721,100 7,466,600 38 100% 70,500 70,500 39 100% 900 900 40 100% 3,800 3,800 75,200 4,700 70,500 15,262,900 7,725,800 7,537,100 24

2,578,100 3,828,200 1,713,000 1,062,800 1,614,700 1,133,000 561,100 938,200 1,041,200 61.36 8.5% 60.2% 31.3% 35.56 4.57 5.6% 19.75 26% 16.30 8.3 5,981 3,300 3,608 4,764 2013 25

4.93 6% 3.4% 3.8% 0.4 8.17 1.7% 5.6% 6.8% 1.2 15.20 11% 10.08 5.12 5.53 7% 1.94 8,000 19.3% 1.99 35.69% 5.99 4.03 48.4% 2.14 0.3094 0.2672 0.035 0.027 0.022 0.018 0.049 0.039 0.084 0.066 26

3.5 5 3.25% 5 10 4.5% 78 7.03% 1.44 5.59% 43:57 60:40 21% 5 15% 2.9% 263.26 272.75 1.8 50.55 70.60 33.19 22.03 59 2013 27

10,355,330 12,566,252 7,357,686 7,250,185 6,152,157 314,323 23,865,173 20,130,760 193 161 86 56 23,865,452 20,130,977 8,330,549 6,828,742 4,817,035 7,219,978 7,020,496 5,490,657 3,697,372 591,600 23,865,452 20,130,977 (5,054,749) (7,060,453) 18,810,703 13,070,524 24,175,205 22,158,140 42,985,908 35,228,664 43.8% 37.1% 4.86 28

21% 5 15% 9.11 5.54 27.81 18.87 0.58 0.60 36.8 45 6,050 6,200 2013 29

13.21 13.21 (a) 8 5 3 3 3 (b) 4 2 (c) 5 3 (d) 10 3 (e) 5 5 (f) 3 18 (g) 38 (h) 5 3 (i) 5 3 (j) 1 12 (k) 2 3 30

(i) (ii) 35% (iii) (a) (c) (d) (e) (f) (g) (h) (i) (k) 20 3.50 3.25 5 4.50 2013 31

物業發展 區域 面積 平方米 廣州 37.6% 5,743,100 珠三角 除廣州外 15.2% 2,322,000 中山 1,341,700 江門 390,400 佛山 589,900 環渤海 13.4% 煙台 589,900 瀋陽 991,900 青島 466,400 長三角 18.1% 2,760,800 杭州 2,211,800 昆山 549,000 中部地區 14.5% 海南 0.7% 合計 98,000 98,000 海口 香港 2,215,600 2,215,600 武漢 0.5% 75,200 100% 15,262,900 發展階段 32 2,048,200 面積 平方米 在建物業 50.6% 7,725,800 未建物業 49.4% 7,537,100

越 秀 地 產 股 份 有 限 公 司 2013 年 報 33

1. 2. 3. 4. 5. 6. 34

2013 35

1. 2. 3. 4. 5. 6. 36

2013 37

13 6 140-170 15 323,400 30 15 82 105 325,000 38

88 16 30 6 21 446,200 12 18 2,286,100 2013 39

34,900 205,300 37 42 22 300 20 500 28 HBA 7 40

310 68 211,500 2,500 2,600 266,000 2013 41

290,700 299,200 42

24 478,700 466,400 2013 43

300 130 14 661,500 60 4 100-140 2-3 16 10-32 10 8 604,100 44

1,920,800 14 2 227,200 2013 45

1,200 7.0 900 46

100% 550 1.8 2013 47

48

49 19 60 20 1,000 1 1 1 1 3 3 3 4 5 5 5 2013 49

6 6 6 7 7 7 8 8 8 9 9 9 10 11 11 11 3.5 5 5 10 100 50

2013 2013 201310 2013 2013 30 2013 ARC MERCOMM, INC. MERCURY MERCOMM, INC. 2013 51

50 1111 1052 2152 12 51 14 51 52

52 45 405 45 2013 53

66 Macquarie University 40 59 20 116 555 66 817 393 1052 207 302933 1339 Chu & Lau Nominees Limited Sun Hon Investment And Finance Limited Wydoff Limited Wytex Limited 54

2013 55

67 (www.yuexiuproperty.com) A.4.1 56

2013 57

27 3/5 2/9 6/6 21/21 1/1 12/12 5/6 21/21 6/6 21/21 6/6 21/21 6/6 21/21 6/6 21/21 4/6 20/21 E.1.2 58

A.2.1 (www.yuexiuproperty.com) 28 2013 59

(a) (b) (c) 2/2 2/2 2/2 60

2/2 2/2 2/2 1/2 1/2 2/2 2/2 2/2 2/2 2013 61

800,000, 1052 405 15 6,500,000 1,900,000 62

2013 63

www.yuexiuproperty.com 622 566 568 5% 21 28 3 622 615 616 2.5% 50 64

169 180 5 75 0.049 0.039 360,505 0.035 0.027 251,704 612,209 183 22 40 900 2013 65

16 38 10.08 11.55 42.97 54.94 66

* * * * 52 54 91 97 2013 67

830,000,000 I II III IV V I V 47(b)(I) (V) 47(b)(III) (IV) 47(b)(III) 68

XV 352 1. 4,550,000 0.05 3,640,000 0.04 574,961 0.01 2. 23/06/2004 0.607 1,620,375 1,620,375(a) (a) 2.09 2013 69

195,720 0.012 69,900 0.004 XV 352 336 4,631,163,657 49.68 4,631,163,657 49.68 70

4,631,163,657 4,631,163,657 Superb Master Ltd. 302,247,835 Excellence Enterprises Co., Ltd. Excellence 4,323,213,675 Bosworth International Limited Bosworth i 3,160,100,867 Sun Peak Enterprises Ltd. Sun Peak 735,387,900 Novena Pacific Limited Novena ii 735,387,900 Shine Wah Worldwide Limited Shine Wah 205,463,700 Morrison Pacific Limited Morrison iii 205,463,700 Perfect Goal Development Co., Ltd. Perfect Goal 176,458,100 Greenwood Pacific Limited Greenwood iv 176,458,100 Seaport Development Limited Seaport 45,803,108 Goldstock International Limited Goldstock v 45,803,108 5,702,147 (i) (ii) (iii) (iv) (v) Bosworth 3,160,100,867 Bosworth Excellence Excellence Novena 735,387,900 Novena Sun Peak Sun Peak Excellence Morrison 205,463,700 Morrison Shine Wah Shine Wah Excellence Greenwood 176,458,100 Greenwood Perfect Goal Perfect Goal Excellence Goldstock 45,803,108 Goldstock Seaport Seaport Excellence ( 69 70 (b) 4,343,620 (2,972,534) (1,371,086) 0.395 02/05/2003 02/05/2003-01/05/2013 (a) 2.38 1,142,572 (1,142,572) 0.784 27/10/2003 27/10/2003-26/10/2013 (a) 2.35 5,272,450 (4,287,758) (984,692) 0.814 23/12/2003 23/12/2003-22/12/2013 (a) 2.13 19,015,698 (15,195,636) (1,312,918) 2,507,144 0.607 23/06/2004 23/06/2004-22/06/2014 (a) 2.17 2013 71

(a) (b) 180,000 30% 72

75 180 141 2013 73

74

5 14,208,873 8,119,945 6 (10,104,420) (4,262,064) 4,104,453 3,857,881 364,150 856,419 (288,233) (617,232) 22 75,917 239,187 17 1,974,765 1,566,979 7 143,541 436,938 6 (493,283) (465,277) 6 (816,662) (830,923) 4,988,731 4,804,785 8 44,081 60,984 9 (511,944) (552,673) 193,747 (80,363) 20 155,460 23 (3,857) (89) 24 198,958 246,440 4,909,716 4,634,544 10 (2,004,627) (2,075,470) 11 2,905,089 2,559,074 2,880,343 2,481,834 24,746 77,240 2,905,089 2,559,074 12 0.3094 0.2672 0.3087 0.2664 86 180 13 2013 75

2,905,089 2,559,074 (50,994) 2,276 (37,039) 147,906 (22,325) (6,101) (754) (116,459) 149,428 2,788,630 2,708,502 2,765,902 2,623,412 22,728 85,090 2,788,630 2,708,502 86 180 76

16 1,023,079 763,564 17 10,219,375 6,185,441 18 265,901 283,234 23 1,164,939 990,734 24 6,309,075 5,964,993 25 842,226 895,944 41 130,067 81,679 19,954,662 15,165,589 27 37,554,999 34,672,854 28 6,342,773 3,147,952 3,634,670 5,439,939 30 10,676 11,645 26 47,642 31 16,013 18,424 1,704,398 1,569,860 430,582 625,729 32 3,319,484 2,202,948 33 5,054,749 7,060,453 58,115,986 54,749,804 34 81,540 2013 77

35 233,069 336,173 45,944 11,310,525 10,002,524 36 9,257,473 8,809,342 37 8,330,549 6,828,742 2,658,633 1,533,756 31,790,249 27,556,481 26,325,737 27,274,863 46,280,399 42,440,452 37 15,534,903 13,302,235 41 5,367,095 5,707,741 64,595 66,389 36 153,798 243,872 21,120,391 19,320,237 25,160,008 23,120,215 78

38 854,089 852,196 38 8,891,760 8,878,673 40 398,425 516,153 40 251,704 399,952 40 13,779,227 11,511,166 24,175,205 22,158,140 984,803 962,075 25,160,008 23,120,215 86 180 2013 79

16 10,177 10,042 19 26,677,146 21,617,867 24 9,364 26,696,687 21,627,909 2,086 1,622 1,003,599 1,003,599 33 575,429 949,988 1,581,114 1,955,209 19 48,588 50,538 36 361,584 306,860 37 4,429,962 1,061,503 4,840,134 1,418,901 (3,259,020) 536,308 23,437,667 22,164,217 36 105,228 210,891 37 9,287,731 6,723,164 9,392,959 6,934,055 14,044,708 15,230,162 80

38 854,089 852,196 38 8,891,760 8,878,673 40 1,759 5,431 40 251,704 399,952 40 4,045,396 5,093,910 14,044,708 15,230,162 86 180 2013 81

42 (1,548,978) (1,248,121) 44,081 60,984 (1,520,241) (1,707,341) (1,010) (4,332) (1,006,687) (838,911) (4,032,835) (3,737,721) (153,837) (892,222) 76,152 60,353 (332,229) (39,731) 364,150 856,419 45,000 951 21 827,907 4,905,920 20 (295,467) 199,635 99,528 (100,000) (350,000) (164,000) (110,362) (540,393) (1,116,536) (896,194) (464,120) 2,909,164 82

6 11,853 6,290 24,500 (760,690) (658,306) (352) (15,171) (474,823) (540,482) 1,337,265 70,553 562,484 7,781,965 13,495,362 (9,166,288) (11,181,485) 5,118,835 (67) (63) 2,500,508 3,110,872 (1,996,447) 2,282,315 7,060,397 4,823,603 (9,287) (45,521) 5,054,663 7,060,397 5,054,749 7,060,453 (86) (56) 5,054,663 7,060,397 86 180 2013 83

852,196 8,878,673 12,427,271 962,075 23,120,215 2,880,343 24,746 2,905,089 (50,994) (50,994) (35,021) (2,018) (37,039) (22,325) (22,325) 21 (6,101) (6,101) (114,441) (2,018) (116,459) 2,765,902 22,728 2,788,630 1,893 9,960 11,853 3,127 (3,127) (760,690) (760,690) 1,893 13,087 (763,817) (748,837) 854,089 8,891,760 14,429,356 984,803 25,160,008 84

851,021 8,871,970 10,463,656 442,163 20,628,810 2,481,834 77,240 2,559,074 2,276 2,276 140,056 7,850 147,906 21 (754) (754) 141,578 7,850 149,428 2,623,412 85,090 2,708,502 1,175 5,115 6,290 1,588 (1,588) 97 505,460 505,557 24,500 24,500 21 (94,786) (94,786) (658,306) (352) (658,658) 1,175 6,703 (659,797) 434,822 (217,097) 852,196 8,878,673 12,427,271 962,075 23,120,215 86 180 2013 85

1 160 26 2 2.1 3,259,000,000 536,000,000 4,430,000,000 1,300,000,000 4 86

2 2.1 (a) 1 10 11 28 11 12 13 2013 87

2 2.1 (b) 19 27 1 7 20 (c) 32 36 39 9 10 12 27 21 88

2 2.2 (a) (b) 39 2013 89

2 2.2 (c) (d) (e) (f) 20% 50% 90

2 2.2 (f) (g) 11 11 2013 91

2 2.3 2.4 (a) (b) 92

2 2.4 (c) (i) (ii) (iii) (d) 2013 93

2 2.5 25 50 3 5 5 2.7 94

2 2.6 16 2013 95

2 2.7 2.8 2 2.9 2.9.1 (a) 96

2 2.9 2.9.1 (b) 2.13 (c) 12 2.9.2 2.9.3 2013 97

2 2.9 2.9.4 (a) 2.13 (b) 98

2 2.10 2.11 2.12 2.13 2013 99

2 2.14 2.15 2.16 2.17 100

2 2.18 2.19 2013 101

2 2.20 (a) (b) (c) 102

2 2.20 (d) 2.21 2.22 (a) (b) (c) 2013 103

2 2.22 (d) (e) (f) (g) 2.23 2.24 104

2 2.25 2.26 2.27 2.28 2013 105

3 3.1 (a) (i) 3% 3,230,000,000 1,620,000,000 (ii) 100 49,000,000 54,000,000 (iii) 10% 57,000,000 61,000,000 106

3 3.1 (b) 45 (c) 33 2013 107

3 3.1 (c) 9,061,221 5,326,646 7,914,188 4,281,667 26,583,722 233,069 233,069 8,578,128 124,570 43,000 8,745,698 8,307,545 8,088,594 5,920,028 1,301,417 23,617,584 336,173 336,173 45,944 45,944 8,327,597 123,431 104,940 15,501 8,571,469 4,815,444 3,334,515 3,962,009 3,623,083 15,735,051 48,588 48,588 309,672 124,570 43,000 477,242 1,095,055 3,869,178 3,064,797 8,029,030 50,538 50,538 306,860 119,061 91,830 517,751 108

3 3.2 37 23,865,452 20,130,977 33 (5,054,749) (7,060,453) 18,810,703 13,070,524 24,175,205 22,158,140 42,985,908 35,228,664 44% 37% 2013 109

3 3.3 25 26 17 4 (a) 110

4 (b) (c) 17 (d) 10 (e) 2013 111

4 (f) (g) (h) 25 (i) 26 (j) 5 112

5 13,145,199 425,605 463,872 850,446 14,885,122 (79,568) (6,726) (589,955) (676,249) 13,145,199 346,037 457,146 260,491 14,208,873 2,704,039 11,948 2,270,974 4,435 4,991,396 (42,448) (480) (15,898) (58,826) (3,857) (3,857) 175,774 23,184 198,958 6,946,344 410,252 489,251 1,242,381 9,088,228 (79,430) (5,438) (883,415) (968,283) 6,946,344 330,822 483,813 358,966 8,119,945 2,410,082 758 2,030,554 58,035 4,499,429 (54,704) (1,090) (20,205) (75,999) (89) (89) 246,440 246,440 2013 113

5 58,456,305 435,884 10,219,375 336,729 69,448,293 1,164,939 1,164,939 6,199,030 110,045 6,309,075 59,621,244 435,884 16,418,405 446,774 76,922,307 152,746 787 332,229 304 486,066 54,081,016 354,674 6,185,441 751,014 61,372,145 990,734 990,734 5,964,993 5,964,993 55,071,750 354,674 12,150,434 751,014 68,327,872 966,934 515 39,731 814 1,007,994 114

5 4,991,396 4,499,429 (146,206) (131,582) 143,541 436,938 4,988,731 4,804,785 44,081 60,984 (511,944) (552,673) 193,747 (80,363) 155,460 (3,857) (89) 198,958 246,440 4,909,716 4,634,544 2013 115

5 76,922,307 68,327,872 130,067 81,679 430,582 625,729 587,692 961,653 78,070,648 69,996,933 113,123 166,416 2,231,176 2,254,878 14,094,704 7,952,534 74,682,844 66,065,954 1,046 995 8,287 7,040 14,208,873 8,119,945 76,922,307 68,327,872 1,148,341 1,669,061 78,070,648 69,996,933 116

6 420,775 377,388 9,361,992 3,523,520 44,877 82,038 112,535 182,305 339 549 46,284 57,717 85 62 16 (14,531) (1,103) 18 12,457 18,220 74,185 45,609 6,500 6,500 14 848,686 876,749 (26,653) 15,901 526,834 372,809 11,414,365 5,558,264 7. 21 59,810 436,938 36,089 47,642 143,541 436,938 2013 117

8 44,081 60,984 9 1,153,341 1,396,061 47,826 249,963 87,819 51,585 198,649 16,794 9,732 15,812 1,520,241 1,707,341 (1,008,297) (1,154,668) 511,944 552,673 5.74% 8.15% 118

10 (a) 16.5% 16.5% (b) 25% 25% 5% 10% 5% 10% 5% 10% (c) 30% 60% (d) 11,004 3,269 746,351 302,720 428,690 1,114,630 (45,238) 15,284 678,490 508,685 185,330 130,882 2,004,627 2,075,470 2013 119

10 (d) 4,714,615 4,388,193 25% 25% 1,178,654 1,097,048 14,205 68,558 (37,583) (141,274) 97,833 96,309 31,818 (5,004) (45,238) 15,284 (193,203) (271,223) 185,330 130,882 1,231,816 990,580 772,811 1,084,890 2,004,627 2,075,470 11 437,000,000 4,335,000,000 120

12 2,880,343 2,481,834 9,309,159 9,289,774 0.3094 0.2672 2,880,343 2,481,834 9,309,159 9,289,774 21,904 25,946 9,331,063 9,315,720 0.3087 0.2664 2013 121

13 7.61 6.58 0.027 0.035 2.52 0.049 0.039 0.042 0.034 360,505 319,459 0.031 0.025 232,530 0.035 0.027 0.022 0.018 251,704 167,422 612,209 719,411 14 660,221 681,030 43,200 48,745 16,719 19,245 58,296 66,308 335 345 69,915 61,076 848,686 876,749 5% 20% 5% 122

14 5% 1,250 16% 24% 15 (a) (ii) 1,071 7,353 54 8,478 1,421 13,678 99 15,198 (i) 669 7,512 8,181 1,718 12,136 120 13,974 2,699 10,693 13,392 (iii) 1,825 12 1,837 180 180 180 180 180 180 540 9,403 51,372 285 61,600 2013 123

15 (b) 1,537 11,917 77 13,531 1,595 10,900 112 12,607 1,626 9,339 93 11,058 2,275 9,337 11,612 (iv) 1,332 7,323 56 8,711 1,930 11 1,941 180 180 180 180 180 180 540 10,295 48,816 349 60,000 (i) (ii) (iii) (iv) 124

16 (a) 421,088 539,738 2,008,547 98,842 70,170 3,138,385 (162,357) (237,215) (62,591) (51,310) (513,473) 258,731 302,523 2,008,547 36,251 18,860 2,624,912 258,731 302,523 2,008,547 36,251 18,860 2,624,912 213 38 5 256 40,028 811,195 24,758 16,241 892,222 20 60,711 1,738 6,304 68,753 (57,286) (2,594) (473) (60,353) 3,995,639 (3,995,639) 21 (4,055,804) (492) (9,504) (4,065,800) (2,831) (38,278) (10,958) (5,712) (57,779) 1,103 1,103 17 94,431 94,431 1,265,819 1,265,819 256,113 282,394 150,633 48,708 25,716 763,564 421,438 541,279 150,633 119,331 82,809 1,315,490 (165,325) (258,885) (70,623) (57,093) (551,926) 256,113 282,394 150,633 48,708 25,716 763,564 2013 125

16 (a) 256,113 282,394 150,633 48,708 25,716 763,564 (8,046) (3,687) (700) (11) (12,444) 11,218 123,476 11,605 7,538 153,837 (20,459) (1,441) (656) (22,556) 21 (15) (15) (2,652) (24,030) (12,112) (7,575) (46,369) 14,531 14,531 17 (1,295) (1,295) 173,826 173,826 245,415 258,672 447,935 46,045 25,012 1,023,079 408,419 520,618 447,935 128,102 85,142 1,590,216 (163,004) (261,946) (82,057) (60,130) (567,137) 245,415 258,672 447,935 46,045 25,012 1,023,079 50 8.57 5.68 46 126

16 (b) 13,747 2,955 7,431 24,133 (6,268) (1,465) (7,364) (15,097) 7,479 1,490 67 9,036 7,479 1,490 67 9,036 113 2,156 2,269 (263) (454) (546) (1,263) 7,216 1,149 1,677 10,042 13,747 3,068 9,587 26,402 (6,531) (1,919) (7,910) (16,360) 7,216 1,149 1,677 10,042 7,216 1,149 1,677 10,042 295 1,342 1,637 (261) (477) (764) (1,502) 6,955 967 2,255 10,177 13,747 3,119 10,486 27,352 (6,792) (2,152) (8,231) (17,175) 6,955 967 2,255 10,177 2013 127

17 3,528,230 616,211 2,041,000 6,185,441 11,922,571 (19,668) (19,668) 483 11,232 6,072 314,925 332,229 39,731 16 1,295 1,295 (94,431) (228,398) (228,398) (328,717) 2,056,111 2,056,111 2,829,365 21 (82,400) (82,400) (9,709,000) 1,792,145 36,545 146,075 1,974,765 1,566,979 34 (41,540) 7,076,920 640,455 2,502,000 10,219,375 6,185,441 128

17 3.7% 4.5% 7.0% 11.5% 5 300 5 600 627,000,000 1,023,000,000 360,000,000 486,000,000 6.2% 6.4% 21.58 40.31 46 2013 129

17 10 50 640,455 616,211 10 50 9,578,920 5,569,230 10,219,375 6,185,441 18 283,234 557,609 20 7,288 8,530 164,706 21 (428,149) (13,406) (12,457) (18,220) 265,901 283,234 265,901 283,234 130

18 10 50 265,901 283,234 700 0.26 46 19 50,349 59,714 (a) 26,626,797 21,558,153 26,677,146 21,617,867 (b) (48,588) (50,538) 2013 131

19 (a) 243.33 193.12 2.5 3 2.5 5.5 7,690,665 6,782,762 18,936,132 14,775,391 26,626,797 21,558,153 (b) 32,770 32,776 15,818 17,762 48,588 50,538 (c) 169 179 (d) (e) 9.85 9.62 132

20 50% 3.50 350,000 (505,460) (155,460) 68,753 7,288 2,330,000 23,726 54,533 (591,600) (69,368) (812,412) 1,010,920 (505,460) 505,460 350,000 (54,533) 295,467 500,000 0.10 2013 133

21 (a) 59,810 Tower Top (b) 256,474 (c) 180,464 59,810 436,938 (a) 8.30 Citiland International Limited (i) 15 82,400 744,000 673 409 143 (707,463) (1,336) (2,478) 116,363 830,000 (1,420) (116,363) (658,508) 6,101 59,810 134

21 (a) (ii) 830,000 (1,420) (673) 827,907 (b) Tower Top Tower Top Development Limited Tower Top 99.99% Tower Top 99% 134.40 Tower Top 2013 135

21 (b) Tower Top (i) Tower Top 4,065,800 9,709,000 428,149 60,883 3,272 1,084,618 425,105 (10,352,861) (4,430,802) (1,773,181) (77,906) (857,923) 4,868,728 1,697,763 2,129,581 36 (410,402) 8,285,670 (8,850,027) (19,720) 857,923 (17,372) Tower Top 256,474 Tower Top 136

21 (b) Tower Top (ii) Tower Top 4,868,728 (19,720) (425,105) 4,423,903 (c) 4.94 (i) 783,000 11,983 1,043 1,314 (401,735) (148) (58,392) (5,895) (16,880) 314,290 494,000 (314,290) 754 180,464 2013 137

21 (c) (ii) 494,000 (11,983) 482,017 22 3.64 8.56 0.76 2.39 23 411,142 61,231 100,000 350,000 (3,857) (89) 507,285 411,142 47(c) 658,653 580,591 (999) (999) 657,654 579,592 1,164,939 990,734 179 138

23 1,602 1,559 1,132,250 775,932 1,133,852 777,491 (626,567) (366,349) (626,567) (366,349) 507,285 411,142 1,930 (3,880) (2,019) (3,880) (89) 23 (3,857) (89) (3,857) (89) 2013 139

24 4,091,340 3,779,558 2,129,581 2,129,581 47(c) 88,154 55,854 6,309,075 5,964,993 21 Tower Top 26 642,088 261,024 198,958 246,440 9,950,396 8,975,078 (5,859,056) (5,195,520) 4,091,340 3,779,558 180 140

24 37.20 36.57 29.34 28.78 22,986,448 22,736,259 639,786 774,021 923,306 1,363,832 24,549,540 24,874,112 (10,063,683) (10,405,495) (1,733,089) (1,861,915) (11,796,772) (12,267,410) (12,669,468) (12,524,083) (24,466,240) (24,791,493) 83,300 82,619 1,370,653 712,201 (144,335) (35,151) 234,722 53,752 (441,431) (163,827) 672,661 738,202 (148,594) (50,400) 524,067 687,802 (631,117) (692,312) (107,050) (4,510) 107,731 6,243 681 1,733 (199,635) (82,640) 2013 141

24 12,524,083 5,095,264 77,471 4,882,001 2,129,581 631,117 692,312 (563,203) (275,075) 12,669,468 12,524,083 (2,129,581) (2,129,581) 10,539,887 10,394,502 35.69% 35.14% 3,720,241 3,656,760 5.75 36.80 142

25 895,944 722,573 (951) (53,718) 214,322 34 (40,000) 842,226 895,944 +0.5% -0.5% 7 7 2013 143

26. 47,642 12% Black-Scholes Geometric Brownian motion 0.5% 0.5% 2.62% 33,517 (27,825) 144

27 37,554,999 34,672,854 221.09 252.72 46 28 6,342,773 3,147,952 292,000,000 172,000,000 46 2013 145

29 11,516 19,557 12,513 44,273 24,029 63,830 30 80 93 6,642 8,455 3,954 3,097 10,676 11,645 45,000,000 82,000,000 146

31 25,299 27,710 (9,286) (9,286) 16,013 18,424 10,240 10,195 3,620 6,246 886 183 10,553 11,086 25,299 27,710 14,000,000 16,000,000 2,000,000 2,000,000 2,153 1,983 2013 147

31 9,000,000 9,000,000 9,000,000 9,000,000 9,286 9,286 9,286 56,230 (46,944) 9,286 9,286 32 148

33 4,857,818 6,719,894 378,498 624,870 196,931 340,559 196,931 325,118 5,054,749 7,060,453 575,429 949,988 660,895 1,001,870 492,423 812,952 4,314,218 5,927,110 3,370 5,563 77,939 128,671 77,939 128,671 1,697 2,802 1,697 2,802 5,054,749 7,060,453 575,429 949,988 0.6 0.5 2013 149

34 41,540 40,000 81,540 35 54,178 43,778 178,891 292,395 233,069 336,173 76,593 79,610 122,992 221,188 23,738 25,800 5,706 6,494 3,985 3,039 55 42 233,069 336,173 150

36 5,814,548 5,110,750 248,963 204,198 66,879 60,150 (b) 1,464,794 2,313,221 44,025 25,171 (a) 219,072 420,134 219,072 420,134 1,663,894 1,004,911 136,836 12,296 9,411,271 9,053,214 466,812 517,751 9,257,473 8,809,342 361,584 306,860 153,798 243,872 105,228 210,891 9,411,271 9,053,214 466,812 517,751 (a) 21 5.59% (b) 143,000,000 99,000,000 2013 151

37 8,492,503 7,716,554 2,987,674 2,596,384 1,923,556 5,585,587 1,181,213 4,126,686 5,118,735 5,118,735 109 94 109 94 15,534,903 13,302,235 9,287,731 6,723,164 86 56 1,300,000 520,000 938,294 1,617,031 758,294 314,322 1,100,500 3,944,474 4,991,585 747,114 3,671,584 747,114 84 67 84 67 8,330,549 6,828,742 4,429,962 1,061,503 23,865,452 20,130,977 13,717,693 7,784,667 152

37 8,330,465 6,828,675 84 67 4,816,987 7,219,929 48 49 4,907,472 5,490,612 2,113,024 45 691,600 591,600 3,005,772 18,746,524 20,130,816 5,118,928 161 4,429,878 1,061,436 84 67 3,012,558 3,751,928 48 49 1,156,329 2,971,142 2,113,024 45 3,005,772 8,598,765 7,784,506 5,118,928 161 6.39% 6.60% 3.19% 7.93% 3.77% 3.15% 9.88% 3.18% 2013 153

37 7,357,965 7,250,402 7,345,536 7,250,344 10,355,330 12,566,252 220,000 220,000 6,152,157 314,323 6,152,157 314,323 23,865,452 20,130,977 13,717,693 7,784,667 38 9,284,012 851,021 8,871,970 9,722,991 39 14,420 1,175 5,115 6,290 1,588 1,588 9,298,432 852,196 8,878,673 9,730,869 39 23,599 1,893 9,960 11,853 3,127 3,127 9,322,031 854,089 8,891,760 9,745,849 200 200 0.1 0.1 154

39 44,194 (14,420) 29,774 29,774 (23,599) (3,668) 2,507 0.3950 4,344 0.7840 1,143 0.8140 5,272 0.6070 2,507 19,015 2,507 29,774 10% (i) (ii) (iii) 2013 155

39 40 (a) a 1,699 203,283 (240,129) 547,568 3,732 11,911,118 12,427,271 (50,994) (50,994) (51,032) (51,032) 12,758 12,758 3,253 3,253 (22,325) (22,325) 2,880,343 2,880,343 385 (385) (3,127) (3,127) (545) 545 21 (6,101) (6,101) (760,690) (760,690) 1,699 197,567 (291,123) 490,222 60 14,030,931 14,429,356 251,704 13,779,227 14,030,931 156

40 (a) a 1,699 203,590 (242,405) 407,512 5,320 10,087,940 10,463,656 2,276 2,276 203,856 203,856 (50,964) (50,964) (12,836) (12,836) 2,481,834 2,481,834 350 (350) (1,588) (1,588) 97 97 21 (754) (754) (658,306) (658,306) 1,699 203,283 (240,129) 547,568 3,732 11,911,118 12,427,271 399,952 11,511,166 11,911,118 (a) 2013 157

40 (b) 1,699 3,732 5,493,862 5,499,293 (3,127) (3,127) (545) 545 (436,617) (436,617) (760,690) (760,690) 1,699 60 4,297,100 4,298,859 251,704 4,045,396 4,297,100 1,699 5,320 1,817,543 1,824,562 (1,588) (1,588) 4,334,625 4,334,625 (658,306) (658,306) 1,699 3,732 5,493,862 5,499,293 399,952 5,093,910 5,493,862 158

41 5,626,062 5,883,646 (348,535) 639,567 20 812,412 21 (1,336) (1,773,181) (8,763) (16,683) 66,416 (13,717) (2,798) 5,237,028 5,626,062 299,304 18,608 17,834 863 336,609 (238) (238) (43,116) 16,647 158 (26,311) 255,950 18,608 34,481 1,021 310,060 272,325 18,608 60,318 625 351,876 118 118 17,688 (21,377) 238 (3,451) 9,173 (21,107) (11,934) 299,304 18,608 17,834 863 336,609 2013 159

41 2,289,331 69,668 254,814 2,813,541 20,609 514,708 5,962,671 (81) (2,332) (11,542) (13,955) 564,787 1,081 (43,736) (1,096,348) 14,040 185,330 (374,846) (13,430) (3,253) (16,683) 21 (8,574) 9,570 (2,332) (1,336) (7,772) (991) (8,763) 2,845,544 70,668 189,876 1,724,431 23,107 693,462 5,547,088 2,769,811 80,028 121,729 2,649,327 20,521 594,106 6,235,522 (2,685) 5 (2,680) 251,843 (10,365) 79,505 184,163 88 130,882 636,116 53,580 12,836 66,416 20 812,412 812,412 (1,542,050) (19,949) (223,116) (1,785,115) 2,289,331 69,668 254,814 2,813,541 20,609 514,708 5,962,671 160

41 5,016 9,643 125,051 72,036 130,067 81,679 22,705 20,685 2,187,071 2,873,743 3,157,319 2,813,313 5,367,095 5,707,741 14.81 14.39 2.56 2.48 1.38 1.23 2013 161

42 4,988,731 4,804,785 58,826 75,999 (59,810) (436,938) (40,190) (14,531) (1,103) (36,089) (75,917) (239,187) (1,974,765) (1,566,979) (47,642) 46,944 15,006 (6,291,811) (9,527,577) 969 85,881 (28,712) (1,794,733) 1,949,620 7,442,610 (1,794) (1,795) (161,776) (51,614) 59,186 58,910 126,727 (158,330) (1,548,978) (1,248,121) 162

43 620,097 157,551 2,278,432 335,388 82,025 287,778 2,980,554 780,717 44 199,840 200,023 711,538 353,685 911,378 553,708 2013 163

45 (a) 2,781,108 1,886,682 (b) 29,307 33,491 (d) 3,680,000 4,500,000 6,461,108 6,386,682 29,307 33,491 (a) (b) (c) (d) 58,000,000 60,000,000 46 (a) 221.09 252.72 2.92 1.72 21.58 40.31 8.57 5.68 (b) 700 0.26 (c) 160.99 111.64 164

47 (a) GYHL YXIDL YXCSWL YCTIIC GYTEOM GYPIL GSDCL GYFL GSLL GYFIG GYIIM GGHSSIA GYHL GYHL GYHL GYHL 2013 165

47 (b) (I) (II) (III) (IV) (V) (VI) (2,175) (2,207) 153 156 (24,606) 49,567 19,151 20,569 (86,447) (26,209) (20,000) (4,565) (75,207) (22,129) 1,038 1,058 YXIDL YXIDL (1,381) (1,345) YXCSWL YXCSWL 2,684 2,433 YCTIIC YCTIIC 3,619 (VII) GYTEOM GYTEOM 845 (VIII) GYPIL GYPIL 570 166

47 (b) (IX) (X) (XI) GSDCL GSDCL 430 GYFL GYFL 1,048 GSLL GSLL 16,308 (XII) GYFIG GYFIG 2,942 (XIII) GYIIM GYIIM 1,924 (XIV) GGHSSIA GGHSSIA 988 (c) (ii), (iii) (8) (15,179) (i), (v) 116,400 106,065 (iii), (vii) (1,215,571) (1,153,531) (i), (iv), (vi) 695,654 579,592 (i), (iii) (270,457) (556,849) (i), (iii) (54,908) (587,662) 2013 167

47 (c) (ii), (iii) (15,171) (i), (iii) (44,025) (10,000) (i) (ii) (iii) (iv) (v) (vi) (vii) 15,171,000 4.2 12 38,000,000 28,246,000 50,211,000 999,000 999,000 729,000,000 926,000,000 9.0 (d) 540 540 60,775 59,111 285 349 61,600 60,000 168

1 1 100 100 1 1 100 100 1 1 100 100 7,000,000 100 100 1 1 100 100 2 1 100 100 1 198,000 1 2,000 1 99,000 1 1,000 100 100 100 100 1 1 100 100 7,500,000 100 100 1 1 100 100 2013 169

2 1 100 100 Elsburg Limited 10,000 1 1,000 1 500,000 1 100 100 100 100 100 100 1 1 100 100 1 1 100 100 88,315,800 28,684,800 37,236,300 259,670,000 111,450,000 190,000,000 95 95 95 95 95 95 100 100 75 75 100 100 170

1,908,610,000 2,145,800 95 95 98.13 98.13 35,882,800 98.62 98.62 95.48 95.48 380,000,000 99.75 99.75 13,712,500 12,994,800 99.75 99.75 98.25 98.25 8,921,500 955,300 80 80 97.6 97.6 37,520,000 1 1 100 100 2013 171

28,684,800 12,734,400 16,231,400 95 95 95 95 95 95 99.06 99.06 2,730,600 539,578,600 18,287,700 16,386,800 100 100 95 95 95 95 2 1 100 100 14,083,200 12,853,900 28,684,800 14,448,600 95 95 95 95 95 95 95 95 172

23,074,600 14,083,200 14,440,300 11,952,000 95 95 95 95 95 95 95 95 11,952,000 11,952,000 19,776,700 118,873,900 5,000,000 11,952,000 28,684,800 154,612,700 95 95 95 95 95 95 100 100 99.84 99.84 95 95 95 95 99.75 99.75 2013 173

5,000,000 14,083,200 1,612,244,900 399,470,000 99.28 99.28 95 95 99.06 98.84 100 100 Honstar Investments Limited 1 1 100 100 1 1 100 100 2 1 100 100 570,000,000 95 95 2 1 100 100 2 1 100 100 1 1 100 100 3 1 100 100 174

1 1 100 100 100 1 100 100 2 1 100 100 1 1 100 100 100 1 100 100 1 99,000 1 1,000 100 100 2 1 100 100 Super Gain Development Limited 350,000 1 10,000 1 1,000 1 100 100 100 100 100 100 100 100 100 100 1 1 100 100 2013 175

10,000 1 100 100 2 1 100 100 100 1 500,000 1 10,000 1 100 100 100 100 (B.V.I.) 1 1 100 100 5,000 1 100 100 1 1 100 100 1 1 100 100 20,000,000 100 100 100 95 600,000,000 523,613,085 47.5 47.5 48.45 48.45 50,000,000 176

560,000,000 1,165,940,000 99,800,000 605,000,000 700,000,000 1,404,000,000 624,000,000 100 100 100 100 100 100 95 95 100 100 100 100 290,000,000 20,000,000 100 95.48 59,800,000 99.95 99.95 3,000,000 800,000 3,000,000 99.95 99.95 49.88 49.88 100 100 2013 177

2,280,000,000 1,920,000,000 3,000,000 500,000 2,000,000 500,000 200,000,000 150,000,000 10,000,000 300,000,000 50,000,000 10,000,000 650,000,000 100 100 100 99.75 95 95 99.75 99.74 99.70 99.70 99.70 99.70 95.48 95.48 95.48 95.48 95 95 95 95 100 100 100 100 100 178

500,000,000 3,000,000 95.48 95.48 95 95 57 57 5,000,000 60,000,000 300,000,000 30,000,000 95.48 95.48 100 100 95.48 95.48 57.14 52 52 33.33 4.77 2013 179

35.69 35.14 7.64 19 20 180