ANNUAL REPORT 2015 (incorporated in the Cayman Islands with limited liability) ( ) Stock Code : 256

002 004 006 008 012 023 029 044 053 061 062 064 066 067 069 162 164

002 V A L U E 6,838,556 6,732,878 6,273,631 5,261,137 3,678,225 340,159 163,032 600,610 310,287 280,782 3,476,354 3,488,553 3,176,423 2,240,304 1,970,319 11' 12' 13' 14' 15' 11' 12' 13' 14' 15' 11 12 13 14 15

003 15 14 13 12 11 2,181 2,235 2,796 3,478 5,206 6,658 8,566 3,538 4,458 5,626 15 14 13 12 11 4,043,253 3,846,524 4,315,079 3,058,389 3,789,021 15 14 13 12 11 338,143 659,741 1,082,025 1,495,849 2,073,990 2,538,128 2,843,863 971,265 805,527 519,521

004 TH NK UK Superbrands YouGov 120 60 60 Turkcell Platinum Bosphorus Cup 60 IRC Challenger 44 GMT 6,300 24,000 24,000

005 500 85.7 56.3 500 APEA (Special Achievement Award) APEA 2015 NO.1 2015

006 183 22 P.O. Box 309 Ugland House South Church Street Grand Cayman Cayman Islands 1 19 1902 04 http://www.citychampwatchjewellery.com http://www.irasia.com/listco/hk/citychamp

007

009 34.90.3% 34.8 3.081.321.76 133%6.98 7.4% 4.5% 2.5

010 300 6,000 16% %

011

013 3,476,354,000 3,488,553,000 12,199,0000.3% 1,781,858,000 1,690,642,00091,216,0005.4% 1,499,303,000 1,624,464,000125,161,0007.7% 340,159,000 163,032,000177,127,000109% 182,561,000 163,542,000 158,108,000

014 1. 60%54% 2. 15%23% 3. 21%19%

015 (1) 91% 1,152,437,000 1,051,541,000 100,896,000 10% 342,694,000 341,632,000 1,062,0000.31% 2,348 2,681 3,190 33 135,000,000 202,381,000 12.8% 17.6% AAAA 24,000 500 86500 300,00037,688,000

016 956,559,000822,457,000 134,102,000 16%231,683,000 131,038,000 100,645,00077% 2,095 2,493 2,910 81,725,000 148,348,000 9.9%15.5% 500 56 500

017 Eterna AG UhrenfabrikEterna Uhren GmbH, Kronberg Eterna Movement AG (1) (2)(3) (4) 39 COSC Facebook41 80% 372322 1112051640 162,353,000 83,049,000 59,759,000 87,023,000 2,943,000

018 281,746,000 328,732,000 90,078,000 169,156,000 42,524,000 607 5301 12610851 Dreyfuss & Co. J&T Windmills 73.4%69% 2410 20 63 3,8852,270 385,000 126,000 290,768,000 252,347,00016,887,0004,855,000

019 (2) 51% 128 519,884,000 805,527,000 1,783,000 8,672,000 20,200,0007,614,000 7,000,000 (3) OEM 78% 52,368,000 75,286,000 6,979,000 8,268,000 95% 5%

020 25% OEM OEM 9,685,000 13,333,000 51% OEM 32,329,000 41,924,000 3,248,000 2,791,000 (4) 30,389,058317,173,000 (5) 18,109,000 17,888,000 (6) 8,280,000 2,534,000 (1) 836,065,000 878,253,000938,532,000 824,677,000 708,834,000 764,914,0004,043,253,000 3,846,524,000 41% 41% 766,654,000 82%

021 (2) 23,800,000 129,397,000 153,197,000 264,664,000 (3) 109,974,000 169,024,000 (1) 1,781,858,0001,690,642,000 5.4% 817,046,00071%570,225,00060% (2) 883,152,000 926,387,000 4.7% 318,010,000279,222,00024,627,000 71,688,000117,743,000 (3) 616,151,000 698,077,000 11.7% 92,124,00080,549,00099,346,000114,603,000 (4) 77,075,00065,055,000 18.5%100,000,000 (5) 307,675,000 132,005,000 133% 342,694,000231,683,000 (6) 2,042,892,0002,065,394,000 1.1% 401,581,000522,490,000241,469,000324,397,000 108,660,000

022 7% 20% 5,300200

023

024 Carefirst Bluecross Blueshield

025

026 Newport University

027 ING Bank

028 TEGUH Halim Teguh Halim Halim Halim

029 (i) E.1.2 E.1.2 (ii) A.6.7 A.6.7

030 (i) (ii) (iii) 23 28

031 4 8 3 31-40 1 41-50 5 51-60 3 61-70 1 11 3 0-5 1 6-10 8 11-15 5 7 2 2 5 3 3.13 A.4.3

032 2/4 0/1 4/4 1/1 4/4 0/1 4/4 1/1 4/4 1/1 4/4 1/1 3/4 0/1 2/4 0/1 4/4 1/1 3/4 1/1 3/4 0/1 4/4 1/1

033 99 116

034 3.21

035 3/3 2/3 1/3 2/3 1/1 1/1 0/1 0/1 1/1 1/1

036 27

037 2,480,000 2,380,000 300,000 600,000 2,780,000 2,980,000

038 6% 10%

039 824,677,000938,532,000 2.2% 7.3% 2.1% 6.1%50 369,000 212,000 72% 72%16% 18% 140 10

040 793,000,000694,000,000 62,000,000 64,000,0007.2% 8.4% 3.47 2.82

041 971,560,000913,906,000 (a) (b) (c) (d)

042 72

043 www.irasia.com/listco/hk/citychamp 119 1902 04 68.85% 110,500,000

044 50 62 161 2.5 162163 17 18 164 39 50 41

045 906,973,000 6% 19% 2% 6%

046 116 3.13 23 28

047 352 XV 1 3,217,389,515 72.97% 3,500,000 0.08% 2 1,374,000 0.03% 8,000,000 0.18% 5,000,000 0.11% 3,500,000 0.08% 1,600,000 0.04% 1,750,000 0.04% 5,000,000 0.11%

048 1. 3,217,389,515 1,840,128,0001,377,261,515 2. 1,374,000 0.03% 20% 31.24% 80% 100% 41.73% 0.08% 3,500,000 0.325 0.325 0.325 0.325 0.325 0.325 0.325 0.325 0.325

049 1 2 9% 2 9% 1. 91% 9% XV 2. 68.5% 31.5% 31.5% 352 336 5% 1,377,261,515 31.24% 1,840,128,000 41.73% 3,222,263,515 73.08% 3,222,263,515 73.08%

050 3,222,263,515 1,377,261,515 1,840,128,000 3,500,000 1,374,000 0.03% 20% 31.24% 80% 100% 41.73% 0.08% 336

051 40 3,500,000 3,500,000 3,500,000 3,500,000 4,300,000 (75,000) 4,225,000 6,085,000 (375,000) 5,710,000 13,885,000 (450,000) 13,435,000 25% 29 43

052 3.21

053 5,500 70% 18 29 36% 41% 43% 30 39 35% 32% 31% 40 49 22% 19% 20% 50 59 7% 8% 6% 18 29 41% 38% 39% 30 39 44% 45% 46% 40 49 12% 16% 13% 50 59 3% 2% 2% 5% 70%

054 4,628 5,321 6,963 8.58 8.72 8.48

055 19

056 (OHSAS) 18001 0 0 0 (%) 100 100 100 (%) 0 0 0 3,000,000 11

057 100 1,900,000 200,000 9

058 1,596,000 221,000 3,100,000 25,000 500,000 322,000

059 ISO14001 4,160 6,500 5,148 0.92 0.93 0.93

060 0.02 0.01 0.01

061 62 161 P06162

062 7 3,476,354 3,488,553 (1,694,496) (1,797,911) 1,781,858 1,690,642 8 204,608 150,825 (883,152) (926,387) (616,151) (698,077) 28 29,078 45,734 34 (969) 54,511 23 (1,749) 35 17,559 18,615 18 (499) 3,078 22 163,542 12 9,517 15,859 20 (49,395) 24 (133,166) 21 9,685 13,333 9 (77,075) (65,055) 10 472,710 284,059 11 (132,551) (121,027) 340,159 163,032 9,485 (5,955) (142,928) (2,021) 12 256 (2,015) 21 133 (16) 22 (163,542) 22 9,051 (11,533) (133,488) (179,127) (124,003) (185,082) 216,156 (22,050)

063 307,675 132,005 32,484 31,027 340,159 163,032 196,583 (55,528) 19,573 33,478 216,156 (22,050) 14 6.98 2.94 6.96 2.93

064 17 730,799 576,661 18 111,676 112,175 19 45,242 37,800 20 741,636 741,636 21 65,828 56,020 22 317,250 308,204 23 8,327 24 172,270 229,924 25 21,887 23,992 38 7,641 10,223 2,222,556 2,096,635 26 2,042,892 2,065,394 27 693,868 792,839 19 966 1,028 25 522,128 473,745 9,248 2,538 28 367,471 271,552 35 1,653 29 143,362 149,241 30 836,065 878,253 4,616,000 4,636,243 31 359,533 358,839 32 431,407 507,023 1,482 1,492 69,323 67,672 33 766,654 349,195 34 10,669 35 7,260 26,479 36 181 13,961 1,635,840 1,335,330 2,980,160 3,300,913 5,202,716 5,397,548

065 32 60,031 55,406 33 171,878 475,482 37 708,834 764,914 38 27,486 26,816 968,229 1,322,618 4,234,487 4,074,930 39 440,938 440,893 41 3,602,315 3,405,631 4,043,253 3,846,524 191,234 228,406 4,234,487 4,074,930 62 161

066 * * * * * * * * # * 39 41 41 41 41 41 41 41 41 472,840 1,053,488 2,534 22,692 (15,300) 26,268 91,543 363,780 9,845 2,287,389 4,315,079 246,965 4,562,044 1,800 8,045 (9,845) (34,030) (221,195) (255,225) (255,225) 283 636 919 919 428 (428) (24,000) (24,000) (158,721) (158,721) (158,721) (28,037) (28,037) (31,947) (212,086) (428) (9,845) (158,721) (413,027) (52,037) (465,064) 132,005 132,005 31,027 163,032 (5,955) (5,955) (5,955) (4,472) (4,472) 2,451 (2,021) (2,015) (2,015) (2,015) (16) (16) (16) (163,542) (163,542) (163,542) (11,533) (11,533) (11,533) (6,503) (175,075) 126,050 (55,528) 33,478 (22,050) 440,893 841,402 2,106 22,692 (15,300) 26,268 85,040 188,705 2,254,718 3,846,524 228,406 4,074,930 45 101 146 146 68 (68) (28,996) (28,996) (27,749) (27,749) 45 169 (68) 146 (56,745) (56,599) 307,675 307,675 32,484 340,159 9,485 9,485 9,485 (130,017) (130,017) (12,911) (142,928) 256 256 256 133 133 133 9,051 9,051 9,051 (129,628) 9,051 317,160 196,583 19,573 216,156 4,313 (4,313) 440,938 841,571 2,038 22,692 (15,300) 30,581 (44,588) 197,756 2,567,565 4,043,253 191,234 4,234,487 * 3,602,315,000 3,405,631,000

067 472,710 284,059 8 (35,511) (28,966) 9 77,075 65,055 8 (7,597) (163,542) 8 (1,637) (17,731) 18 499 (3,078) 10 103,144 103,824 10 1,015 1,028 10 9,096 14,037 10 3,561 2,001 (9,685) (13,333) 34 969 (54,511) 35 (17,559) (18,615) 23 1,749 8 (6,872) 10 (155) (1,067) 8 (4,280) 8 (30,000) 10 (9,864) (321) 10 (37,696) (17,808) 10 12,688 61,145 10 56,770 16,807 12 (9,517) (15,859) 49,395 133,166 568,903 395,686 (131,314) 34,155 57,103 (125,466) (49,299) (76,287) (95,919) (46,581) 18,350 (71,198) (51,869) (24,534) 315,955 85,775 35,369 28,966 (76,966) (51,394) (131,718) (132,416) 142,640 (69,069)

068 7,597 22 379,671 1,637 17,731 (288,093) (125,652) (698) (1,367) (12,546) (6,109) 45 (282,540) 12 90,192 63,888 32 11,638 839 2,899 5,636 5,000 25 (25,000) (10,000) (3,155) (93,545) (216,953) (45,024) (157,682) (27,749) (28,037) 612,139 735,804 (491,953) (553,089) (153,135) 146 919 37 762,913 (51,262) - (92,545) (13,284) 1,140 28,037 516,288 (46,276) 402,195 878,253 478,713 4,088 (2,655) 836,065 878,253 30 836,065 878,253

069 1. P.O. Box 309, Ugland House, South Church Street, Grand Cayman, Cayman Islands1 19 1902 04 12 51% 2. (a) 19 16 16

070 2. (a) 19 (b) 1 1 1 16 1 38 9 2 10 3 28 10 1 12 28 15 2 1 2 3 1 1 16 38 16 38

071 2. (b) 9 9 9 39 939 9 39 10 28 10 12 28 12

072 2. (b) 15 15 1811 15 15 15 15 (c) 622

073 3. 3.1 3.2 4 4 2(a) 5 3.3

074 4. 4.1 12 3

075 4. 4.1 (i) (ii) 4.2 4.3 4.5

076 4. 4.4 4.5 4.4

077 4. 4.6 (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) (viii) (i) (ii) (iii)

078 4. 4.7 20 40 5 6% 20% 6% 50% 9% 25%

079 4. 4.8 4.9 (i)

080 4. 4.9 (ii) (iii) 4.10 (i) 10 10 10 (ii)

081 4. 4.10 (ii) (iii) 4.5 4.11

082 4. 4.11 (i) 4.19 (ii)

083 4. 4.11 (iii) (iv) 4.13 (v)

084 4. 4.11 (i) (ii) 4.12

085 4. 4.12 (i) 4.22 (ii) (iii) (iv) (v) 4.13 4.13

086 4. 4.14 4.15 4.16 4.17

087 4. 4.18 40 (a) (b)

088 4. 4.18 (a) (b) (i) (ii) 4.19 4.20

089 4. 4.20

090 4. 4.20 4.21 4.22 4.23

091 4. 4.23 4.24 4.25 4.17

092 4. 4.26 (a)(b)(c) 8

093 5. 4.4 20 4.7 4.10

094 5.

095 5. 19 4.10 4.10

096 5. 18 22 23 28 35 34 35 6. (a) (b) (c)

097 6. 3,458,245 18,109 3,476,354 162,305 1,513 163,818 3,620,550 19,622 3,640,172 549,559 4,470 (8,280) 545,749 (5,649) 540,100 9,685 (77,075) 472,710 (132,551) 340,159 4,247,209 235,551 28,060 4,510,820 741,636 65,828 317,250 8,327 367,471 143,362 683,862 6,838,556 842,124 49,870 36 892,030 938,532 708,834 181 7,260 57,232 2,604,069 16,840 197 17,037 12,688 12,688 9,864 9,864 49,932 6,838 56,770 37,696 37,696 97,680 4,470 102,150 296,097 296,097 499 499 9,517 9,517 969 969

098 6. 3,460,865 17,888 9,800 3,488,553 104,463 4,308 108,771 3,565,328 22,196 9,800 3,597,324 198,422 5,492 (2,535) 201,379 (29,140) 172,239 163,542 13,333 (65,055) 284,059 (121,027) 163,032 4,262,959 209,882 34,879 4,507,720 741,636 56,020 308,204 271,552 1,653 149,241 696,852 6,732,878 783,383 43,269 826,652 824,677 764,914 13,961 10,669 26,479 190,596 2,657,948 19,827 126 19,953 61,145 61,145 321 321 16,807 16,807 17,808 17,808 112,912 4,937 1 117,850 127,019 127,019 3,078 3,078 15,859 15,859 133,166 133,166 49,395 49,395 54,511 54,511

099 6. 109,978 48,627 75,312 83,477 2,706,583 2,809,125 1,344,978 1,158,518 152,867 60,192 316,821 272,248 24,432 11,423 1,203 887 235,871 252,475 145,415 260,686 9,525 40,218 237,098 266,493 2,929 2,392 3,476,354 3,488,553 1,886,658 1,778,208

100 7. 3,458,245 3,470,665 18,109 17,888 3,476,354 3,488,553 8. 35,511 28,966 1,637 17,731 22 7,597 38,378 8,280 3,917 341 346 39,884 22,524 a 26,888 24,420 44.1(ii) 30,000 37 6,872 4,280 b 23,495 19,823 14,543 204,608 150,825 (a) (b) Montres Corum Sàrl 9. 29,218 13,661 47,782 51,290 75 104 77,075 65,055

101 10. 1,694,496 1,797,911 c (37,696) (17,808) 56,770 16,807 a 103,144 103,824 b 1,015 1,028 b 9,096 14,037 37 b 3,561 2,001 54,324 50,128 3,493 2,480 2,380 (18,109) (17,888) 2,538 3,498 (15,571) (14,390) 6,130 41,276 (155) (1,067) 12,688 61,145 (9,864) (321) b 110,898 74,449 (a) 15,104,000 21,278,000 44,616,000 37,774,000 43,424,000 44,772,000 (b) (c)

102 11. 15% 25%15% 25% 5% 10%5% 10% 124,123 146,064 2,128 270 2,370 4,271 (305) (728) 114 38 4,121 (28,850) 132,551 121,027 472,710 284,059 90,856 74,595 (12,111) (19,932) 13,272 25,411 (191) (728) (659) (144) 41,384 41,825 132,551 121,027

103 12. 12.1 81,214,00051% 9,517,000 17 196 24 41,260 41,221 10,041 10,727 6,022 (1,384) (7,253) (393) 100,437 (28,996) 71,441 256 71,697 (81,214) (9,517) 81,214 (6,022) 75,192 81,214,000

104 12. 12.2 100,523,000 127,245,000 51% 15,859,000 2,459 7,360 163,418 43,722 5,603 6,311 (31,953) (5,265) (42,748) (94,067) 54,840 (24,000) 30,840 (2,015) 28,825 60,759 21,802 111,386 (127,245) (15,859) 127,245 (57,046) (6,311) 63,888 67,457,00085,389,000 55,457,00070,199,000 12,000,00015,000,000 33,066,00039,364,000

105 12. 12.2 33,066,00039,364,000 45,066,00057,046,000 25 13. 15,000,000 3.6 158,721 2.5 14. 307,675 132,005 4,409,302 4,491,328 9,588 10,595 4,418,890 4,501,923

106 15. 15.1 612,254 674,101 52,329 56,274 664,583 730,375 155,460,000 95,130,000 228,220,000 335,149,000280,903,000 300,096,000 15.2 53,436 53,398 Eterna AG UhrenfabrikMontres Corum Sàrl Institute of Actuaries Martin Schnider Institute of Actuaries Nicolas Colozier

107 15. 15.2 (a) 299,974 310,229 (246,538) (256,831) 53,436 53,398 (b) 310,229 349,767 22,326 24,049 2,861 5,571 (12,298) 21,438 (22,246) (56,036) (898) (34,560) 299,974 310,229 (c) 256,831 305,180 1,045 2,035 2,466 5,402 (5,279) 10,081 8,906 11,151 5,508 8,031 (22,246) (56,036) (693) (29,013) 246,538 256,831

108 15. 15.2 (d) 22,326 24,049 1,816 3,536 24,142 27,585 2,466 5,402 7,019 (11,357) 9,485 (5,955) 24,142,000 27,585,000 (e) 62,300 56,221 87,285 96,659 79,654 75,962 772 1,027 6,639 6,366 7,519 9,888 13,077 246,538 256,831

109 15. 15.2 (f) 0.8%-0.85% 0.85%-1% 0.5%-1% 0.5%-1.5% (g) 5029,381,000 32,613,000 34,050,000 37,797,000 503,865,000 4,290,000 3,678,000 4,925,000

110 16. 16.1 1,690 18 1,708 10,169 72 10,241 1,690 18 1,708 1,430 18 1,448 1,456 18 1,474 1,430 18 1,448 1,430 18 1,448 1,430 18 1,448 200 200 150 150 150 150 150 150 650 20,725 198 21,573

111 16. 16.1 1,690 17 1,707 8,776 72 8,848 1,690 17 1,707 1,430 17 1,447 1,456 17 1,473 1,430 17 1,447 a 488 7 495 b 119 119 200 200 150 150 150 150 b 15 15 515 17,079 164 17,758 (a) (b)

112 16. 16.2 16.1 6,377 11,660 355 1,045 6,732 12,705 2,000,0012,500,000 3 2,500,0013,000,000 3 4,000,0014,500,000 1 3 4 16.3 16.1 1,000,000 2 2 1,000,0011,500,000 2 2 4,000,0014,500,000 1 4 5

113 17. 297,530 45,567 141,208 182,306 49,976 20,107 736,694 (30,041) (21,470) (38,443) (64,650) (28,897) (183,501) 267,489 24,097 102,765 117,656 21,079 20,107 553,193 267,489 24,097 102,765 117,656 21,079 20,107 553,193 6,120 7,157 33,337 52,675 6,576 19,787 125,652 45 1,412 29,110 30,522 (9,947) (11,074) (19,512) (57,022) (6,269) (103,824) (261) (525) (724) (322) (1,832) (12,055) (323) (4,807) (7,133) (224) (2,508) (27,050) 251,607 21,008 111,258 134,562 20,840 37,386 576,661 291,121 52,824 166,377 227,756 54,347 37,386 829,811 (39,514) (31,816) (55,119) (93,194) (33,507) (253,150) 251,607 21,008 111,258 134,562 20,840 37,386 576,661 251,607 21,008 111,258 134,562 20,840 37,386 576,661 6,305 6,072 20,470 74,653 2,332 178,261 288,093 12.1 (24) (172) (196) (9,969) (11,036) (19,285) (56,492) (6,362) (103,144) (100) (81) (503) (684) (7,460) (594) (4,692) (6,020) (641) (10,524) (29,931) 240,483 15,426 107,651 146,450 15,666 205,123 730,799 287,511 56,174 179,368 287,939 49,845 205,123 1,065,960 (47,028) (40,748) (71,717) (141,489) (34,179) (335,161) 240,483 15,426 107,651 146,450 15,666 205,123 730,799

114 17. (a) 458 515 239,702 250,639 323 453 240,483 251,607 129,397,000 132,104,000 33 (b) 3,467,000 597,000 (c) 1,591,000 18. 112,175 109,097 (499) 3,078 111,676 112,175

115 18. 23,800 22,800 87,876 89,375 111,676 112,175 41,900,000 42,780,000 23,800,000 22,800,000 33 111,676,000 112,175,000 112,175 109,097 (499) 3,078 111,676 112,175 (499) 3,078

116 18. 2.9% 7% 2.5% 7% 677 6 83 14,570 14,060 19. 38,828 39,856 12,546 (1,015) (1,028) (4,151) 46,208 38,828 (966) (1,028) 45,242 37,800 11,949,000

117 20. 791,031 670,777 (49,395) 741,636 670,777 741,636 670,777 45 120,254 (49,395) 741,636 741,636 791,031 791,031 (49,395) (49,395) 741,636 741,636 621,382 621,382 49,395 49,395 120,254 120,254 791,031 791,031

118 20. 3%3% 17.12%17.55% 3%3% 18.72%17.32% 3%3% 17.94%19.56% 158,611,000 49,395,000 15,300,000 15,300,000

119 21. 56,020 70,203 9,818 13,317 (27,500) (10) 65,828 56,020 600,000 25%25% 606,628 862,878 40,390 34,633 535,947 824,487 782 531 110,289 72,493 434 (1,043) 110,723 71,450 25% 25% 27,681 17,863 37,987 37,987 65,668 55,850

120 21. 1,182,278 1,109,062 37,260 51,969 536 (66) 37,796 51,903 38,739 53,333 39,272 53,267 27,500 25% 25% 9,685 13,333 133 (16) 9,818 13,317 22. a 317,173 308,122 b 77 82 317,250 308,204

121 22. (a) 10 2 7,597,000 A 30,389,058 30,389,058 2.05% 2.55% 9,051,000 11,533,000 302,104,000379,671,000 55,000,000 163,542,000 (b) 23. 5 0.1 10,000,0008%

122 23. 29% 4.99 3.83 5.00 5.00 38.19% 38.62% 18.64% 16.62% 0.76% 0.70% 0.00% 0.00% 6,007 3,993 10,000 (66) (66) 142 142 (1,749) (1,749) 6,083 2,244 8,327 1,749,000

123 24. 123,195 146,855 32,959 303,009 (20,532) (141) (4,073) (24,746) 102,663 146,714 28,886 278,263 102,663 146,714 28,886 278,263 1,367 1,367 45 124,720 124,720 (2,024) (104,833) (26,309) (133,166) (13,675) (80) (282) (14,037) (198) (24,060) (2,965) (27,223) 86,766 142,461 697 229,924 122,670 247,518 30,933 401,121 (35,904) (105,057) (30,236) (171,197) 86,766 142,461 697 229,924 86,766 142,461 697 229,924 698 698 12.1 (41,260) (41,260) (765) (591) (1,356) (8,826) (79) (191) (9,096) (1,327) (5,293) (20) (6,640) 34,588 137,089 593 172,270 58,024 242,080 31,497 331,601 (23,436) (104,991) (30,904) (159,331) 34,588 137,089 593 172,270 98,441,000 5,055,000 75,417,000 20

124 24. 33,034,000 24,715,000 57,749,000 25. 299,162 206,749 27,500 27,500 44.1(ii) 25,000 12.2 39,364 57,046 17,107 11,017 911 285 108,052 190,368 26,919 4,772 544,015 497,737 (522,128) (473,745) 21,887 23,992 26. 246,328 312,300 367,055 276,705 1,429,509 1,476,389 2,042,892 2,065,394

125 27. 757,927 854,833 (64,059) (61,994) 693,868 792,839 61,994 2,477 (9,864) (321) 12,688 61,145 (759) (1,307) 64,059 61,994 109,760,000 33 1 3 562,540 612,274 4 6 68,523 110,593 6 62,805 69,972 693,868 792,839

126 27. 241,825 250,157 3 353,343 417,471 36 50,851 74,297 6 47,849 50,914 452,043 542,682 693,868 792,839 28. 367,471 271,552 29,078,000 45,734,000 29. 101,797,000 75,824,000 41,565,000 73,417,000 4.4% 6% 3.86% 6%

127 30. 226,043,000 195,577,000 31. 1 3 320,297 316,213 4 6 16,745 22,046 6 22,491 20,580 359,533 358,839 32. 142,781 103,393 102,090 34 11,638 331,562 350,130 5,457 6,816 491,438 562,429 (431,407) (507,023) 60,031 55,406 26,312,000204,400,000 13,156,000102,090,000

128 33. a 938,532 772,750 b 50,387 c 1,540 938,532 824,677 (766,654) (349,195) 171,878 475,482 (a) 559,977 292,698 258,815 304,879 104,744 157,533 14,996 17,640 378,555 480,052 938,532 772,750 2.1% 6.11% 2.18% 7.34% (i) (ii) 44.1(v) (iii) 129,397,000 132,104,000 17(a)23,800,000 22,800,000 18 (iv) 109,760,00027 (v) 27,600,000

129 33. (b) 6.3% (c) 1,613 (73) 1,540 1,540 (1,540) 34. 10,669 45 5,000,00065,180,000 885,00010,669,000 1,050,00011,638,000 32 969,000 54,511,000 47.8

130 35. (a) 1,653 (b) (7,260) (25,544) (c) (935) (7,260) (26,479) (a) 1,660,0001,753,000 (b) 1 (c) 56,000,000 38,000,000 18,000,000 1 (b)(c) 39 19,219,000 16,862,000 1.31 0.97 2.076% 3.959% 1.04% 0.12% 1.43% 39.65% 30.68% 37.65% 47.8 36.

131 37. 764,914 825,062 3,561 2,001 (58,136) (1,505) (62,149) 708,834 764,914 100,000,000 3.625% 97,295,000 762,913,000 3060100% 6,360,000 51,262,000 7,385,000 58,136,000 853,000 6,872,000 38. 1,344 (9,424) (26,437) (5,503) 41,364 (24,693) (23,349) 45 (3,269) (28,723) 5,666 2,100 (24,226) (1,344) 12,379 25,739 (32,733) 23,745 1,064 28,850 314 2,879 550 (2,061) 674 (224) 2,132 (26,542) (4,953) 12,236 (274) 2,940 (16,593) 11 (2,194) (1,942) 15 (4,121) 1,211 19 (286) 1 60 (136) 869 (25,331) (4,934) 9,756 (273) (1,882) 2,819 (19,845)

132 38. 7,641 10,223 (27,486) (26,816) (19,845) (16,593) 282,589,000 237,859,000 64,246,000 42,556,000 35,689,000 37,396,000 4,822,000 7,283,000 1,554,116,000 1,442,007,000 4,934,000 4,953,000 1,548,493,000 1,395,929,000

133 39. 0.10 6,000,000 600,000 6,000,000 600,000 4,408,924 440,893 4,728,399 472,840 a 18,000 1,800 b (340,300) (34,030) c 450 45 2,825 283 4,409,374 440,938 4,408,924 440,893 (a) 56,000,000 38,000,00018,000,000 35(c) 8,045,000 (b) Severin Participations GmbHMichael Wunderman Severin Wunderman Family Trust 340,300,0000.75255,225,000 340,300,000 (c) 450,0002,825,000 146,000 919,000 101,000 636,000 45,000 283,000 40

134 40. (i) (ii) (iii) 30% 30% 1% 1% 1% 0.1% 5,000,000 (i)(ii) (iii)

135 40. 30% 35% 35% 0.325 13,885 0.325 16,710 0.325 (450) 0.325 (2,825) 0.325 13,435 0.325 13,885 0.325 13,435 0.325 13,885 0.325

136 40. 34 1 0.95 3,500,000 3,500,000 4,300,000 (75,000) 4,225,000 6,085,000 (375,000) 5,710,000 13,885,000 (450,000) 13,435,000 3,500,000 3,500,000 6,925,000 (2,625,000) 4,300,000 6,285,000 (200,000) 6,085,000 16,710,000 (2,825,000) 13,885,000

137 41. 20 1,053,488 2,534 22,692 9,845 234,141 1,322,700 8,045 (9,845) (1,800) (221,195) (221,195) 636 636 428 (428) (158,721) (158,721) (87,215) (87,215) 841,402 2,106 22,692 (11,795) 854,405 101 101 68 (68) 97,607 97,607 841,571 2,038 22,692 85,812 952,113 223

138 42. 42.1 13,242 14,995 35,389 48,957 28,475 36,748 77,106 100,700 42.2 22,878 21,829 20,873 37,889 43,751 59,718 42.3 20% 557,000 531,000 43. 109,974 169,024

139 44. 44.1 (i) a 120 120 b 341 346 (a) 10,000 10,000 (b) 29,000 29,000 (ii) * 30,000 39,229 32,293 50,480 1,617 106 192 112 354 154 333 940 2,882 57 1,258 * 30,000,000 Code X 5,000,00025,000,000 25 30,000,000 (iii) 2,000

140 44. 44.1 (iv) 27,500 27,500 25,000 a 17,107 11,017 b 911 285 (a) 17,107,000 11,017,000 (b) 911,000 1,441,000 (v) 35,000,000 300,000,000 372,000,000 4,500,000 14,000,000 21,000,000 1,140,000 3,891,000 14,000,000 27,210,000 (vi) 55,000,000302,104,000 379,671,000 (vii) 120,000,000 120,000,00046

141 44. 44.2 21,375 17,594 198 164 21,573 17,758 16.1 45. 286,961 65,180 352,141 (231,887) 120,254 27,000,000352,141,00016,000,000 208,745,000 6,000,00078,216,000 5,000,00065,180,000

142 45. (i) 2,150,000 28,036,000 (ii) 10,200,000 133,008,000 (iii) 900,00011,736,000 6,000,00078,216,000 (i) (ii) (iii) (iv) 3,000,000 39,120,000 (v) 13,200,000 172,128,000 5,000,00065,180,000 (iv) (v) (iv) (v) 120,254,000

143 45. 17 30,522 30,522 24 124,720 1,181 38 7,766 7,766 109,896 95,835 77,454 77,454 37,014 37,014 3,103 3,103 (34,554) (34,554) (41,611) (41,611) (3,483) (3,483) (46,948) (46,948) 38 (31,992) 126,279 231,887 3,103 (285,643) (282,540) 16,000,000208,745,000 5,901,00076,898,000 268,020,000 24,720,000 331,032,00014,861,000 46. 120,000,000 120,000,000

144 47. 47.1 317,173 308,122 367,471 271,552 1,653 2,244 686,888 581,327 6,083 693,868 792,839 416,756 307,369 143,362 149,241 836,065 878,253 2,096,134 2,127,702 77 82 2,783,099 2,709,111 7,260 26,479 10,669 359,533 358,839 487,867 562,429 1,482 1,492 708,834 764,914 938,532 824,677 181 13,961 2,496,429 2,526,312 2,503,689 2,563,460

145 47. 47.2 33 50 369,000212,000 47.3

146 47. 47.3 317,173 110 31,855 148,135 1,542 313,131 2,044 1,785 (7,521) (522) (11,638) (24,633) (635,533) (148,478) (494,919) (147,458) 313,241 (9,594) 326,180 308,122 16,614 708 143 802 208 392,016 46,316 (102,090) (24,711) (10,669) (434,417) (132,042) (535,799) (131,834) 392,159 (10,669) 347,143

147 47. 47.3 +5% (7,373) +5% (6,592) -5% 7,373-5% 6,592 +5% 15,662 +5% 19,708-5% (15,662) -5% (19,708) +5% (480) +5% (533) -5% 480-5% 533 +5% 450 15,859 +5% 1,289 15,406-5% (450) (15,859) -5% (1,289) (15,406)

148 47. 47.4 120,000,000 120,000,000 47.5 360 30

149 47. 47.5 359,533 359,533 359,533 487,867 498,400 438,369 60,031 1,482 1,482 1,482 938,532 957,847 782,836 175,011 708,834 800,909 25,695 775,214 181 181 181 2,496,429 2,618,352 1,608,096 1,010,256 120,000 120,000 358,839 358,839 358,839 562,429 562,429 507,023 55,406 1,492 1,492 1,492 824,677 932,465 504,537 427,928 764,914 892,001 27,728 864,273 13,961 13,961 13,961 2,526,312 2,761,187 1,413,580 1,347,607 120,000 120,000

150 47. 47.5 310,021 333,556 115,859 111,844 105,853 115,368 131,638 126,887 2,306 2,445 47.6 47.7

151 47. 47.7 30%30% 110,241 81,466 30%30% (110,241) (81,466) 30%30% 95,152 92,437 30%30% (95,152) (92,437)

152 47. 47.8 13

153 47. 47.8 317,173 317,173 367,471 367,471 2,244 2,244 684,644 2,244 686,888 7,260 7,260 7,260 7,260 308,122 308,122 271,552 271,552 1,653 1,653 579,674 1,653 581,327 10,669 10,669 26,479 26,479 37,418 37,148

154 47. 47.8 (10,669) 45 65,180 34 (969) (54,511) 11,638 (10,669) 26,479 49,450 (6,109) 35 (19,219) (16,862) 7,260 26,479 23

155 48. (i) (ii) (iii) 4,234,487 4,074,930 938,532 824,677 708,834 764,914 181 13,961 1,647,547 1,603,552 2.57 2.54

156 49. 7,256 2,891 8,327 1,356,052 1,437,907 1,371,635 1,440,798 79,453 9,849 283,885 75,165 483,662 462,980 847,000 547,994 24,612 123,425 1,482 1,492 437,150 108,618 1,140 463,244 234,675 383,756 313,319 1,755,391 1,754,117 655 977 361,685 457,842 362,340 458,819 1,393,051 1,295,298 440,938 440,893 41 952,113 854,405 1,393,051 1,295,298

157 50. 2 100% 100% 2 100% 100% Haidian-Creation International Limited 1 100% 100% 1 100% 100% 1 100% 100% Citychamp Watch and Jewellery SwissCo AG 100,000 100% 100% a 36,000,000 100% 100% b 1,000,000 100% 100% c 45,525,860 100% 100% b 500,000 100% 100% 10,000 100% 100% 1 100% d 180,000,000 91% 91% b 10,000,000 100% 100%

158 50. b 23,000,000 100% 100% b 1,000,000 91% 91% 2,000,000 100% 100% Eterna AG Uhrenfabrik 6,000,000 100% 100% Eterna Uhren GmbH, Kronberg 205,000 100% 100% Eterna Movement AG 1,000,000 100% 100% d 15,000,000 51% 51% d 25,500,000 51% 51% b 100,000,000 78% 78% 5,000,00 70% 70% a 4,550,000 70% 70% b 1,000,000 70% 70% d 15,000,000 51% 51%

159 50. b 100,000,000 51% 51% 10,000 51% 51% b 1,000,000 51% 51% b 500,000 51% 51% b 1,000,000 51% 51% Montres Corum Sàrl 3,000,000 100% 100% Montres Corum (UK) Ltd. 3,383,424 100% 100% Corum Italia SRL 10,400 100% 100% Montres Corum Europe SA 100,000 100% 100% Servicio de Importacion SA 739,000 100% 100% Corum Deutschland GmbH 200,000 100% 100% Corum (Hong Kong) Limited 1,000 100% 100% The Dreyfuss Group Limited 221,541 100% 100% Rotary Overseas Limited 1,000,000 100% 100%

160 50. Artemis Watch Company Limited 100 100% 100% Rotary Watches LLC 10 100% 100% Dreyfuss & Co SA 100,000 100% 100% Fabrique de Moritres Rotary S.A 1,000,000 100% 100% Citychamp Watch and Jewellery SwissCo AG100,000,0003.65% 37 (a) (b) (c) (d)

161 50. 49% 49% 9% 9% 1,824 6,961 252,801 170,076 172,400 149,181 1,043,712 937,857 (45,919) (19,935) (221,276) (226,326) 128,305 136,207 1,075,237 881,607 62,869 66,741 96,771 79,345 202,990 203,019 1,162,111 1,066,632 2,716 4,869 386,838 375,420 (8,118) (64,777) (5,402) 4,869 322,061 375,420 1,331 2,386 34,815 33,788 1,275 1,291 11,997 6,965 4,926 5,053 89,722 127,221 (305) (2,154) (45,247) (12,403) (2,381) (2,532) (15,399) (43,284) 2,240 367 29,076 71,534

162 3,476,354 3,488,553 3,176,423 2,240,304 1,465,276 (1,694,496) (1,797,911) (1,697,584) (1,022,583) (637,042) 1,781,858 1,690,642 1,478,839 1,217,721 828,234 204,608 150,825 74,945 29,182 21,027 (883,152) (926,387) (724,581) (513,278) (343,908) (616,151) (698,077) (542,743) (351,448) (234,144) 29,078 45,734 (11,450) 2,056 10,947 (969) 54,511 (1,749) 17,559 18,615 12,093 6,187 46,904 (499) 3,078 8,185 7,525 5,675 30,965 17,169 6,551 163,542 456,023 9,517 15,859 (49,395) (133,166) 9,685 13,333 12,134 13,499 1,991 (4,952) (77,075) (65,055) (36,554) (14,894) (4,331) 472,710 284,059 757,856 413,719 333,994 (132,551) (121,027) (157,246) (103,432) (68,240) 340,159 163,032 600,610 310,287 265,754 16,036 340,159 163,032 600,610 310,287 281,790

163 9,485 (5,955) 1,785 (142,928) (2,021) 32,719 16,468 14,570 256 (2,015) (17,496) 133 (16) (163,542) (456,023) 9,051 (11,533) 94,418 601,480 (305,401) (124,003) (185,082) (327,101) 617,948 (308,327) 216,156 (22,050) 273,509 928,235 (26,537) 307,675 132,005 565,434 270,425 255,874 32,484 31,027 35,176 39,862 25,916 340,159 163,032 600,610 310,287 281,790 196,583 (55,528) 233,899 887,501 (54,105) 19,573 33,478 39,610 40,734 27,568 216,156 (22,050) 273,509 928,235 (26,537) 6,838,556 6,732,878 6,273,631 5,261,137 3,678,225 (2,604,069) (2,657,948) (1,711,587) (1,305,018) (543,286) (191,234) (228,406) (246,965) (167,098) (76,550) 4,043,253 3,846,524 4,315,079 3,789,021 3,058,389

164 8 21 B 100% 332 100% 100% 459 461 463 13 14 15 100%

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