2 3 14 17 29 36 38 39 40 42 43 45 132 1
1060 Clarendon House, 2 Church Street Hamilton HM 11, Bermuda 333 47 (852) 2877 8313 (852) 2511 3696 info@chinavision.hk http://www.chinavision.hk Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre, 11 Bermudiana Road Pembroke HM08, Bermuda 28 26 Boardroom Corporate & Advisory Services Pte. Ltd. 50 Raffles Place, #32-01 Singapore Land Tower Singapore 048623 2
3G 3
Prefect Strategy International Limited 50% 70% 25 44 85%86% 4
3G 3G 3G 3.0 MTK J2ME Symbian 5
3G 2G 3G 2009~20139.5% 1,1002.7% 6
388,935,000 552,847,000 225,296,000 2,487,000 202,425,000 22,871,000 34,173,000 45.7% 49,778,000 49.8% 52.4% 36,081,00035,158,000 16.73 0.28 0.24 0.43 7
Shanghai Allied Cement Limited ChinaVision Media Group Limited 1,788,000 2,164,000 17.4%343,070,000 552,847,000 37.9%12,364,000 49,637,00075.1% 200,000,000 202,425,000 8
SMS MMS WAPJava CRBT 45,752,000 5,032,000113,000838,000 75% 1,278,00010,125,000 11,506,000 Year Wealth Limited 51% 58,273,0000.660,000,000 19,600,000 22,273,000 15,000,000 26,000,000 20,000,000 51% 9
51%7,284,0004,590,000 5,216,000 Prefect Strategy International LimitedPrefect Strategy 400,000,000 50,000,000350,000,000 70% 50% 50% Prefect Strategy 219,000,00069,000,000 150,000,000 30% 50% Prefect Strategy100% 50% 10
Youline Technology CompanyYouline Technology 25,000,000 28,409,000 Youline TechnologySMS MMS WAP Java CRBT (www.people.com.cn) Right Point International Limited 26,000,000 29,380,000 25% 4,684,000 11
126,671,000 74,283,000 359,589,000 313,074,00017,081,000 525,420,000 144% 0.27145,000,000 37,867,000 0.52 170,000,000 84,364,000 0.3437,197,521124,400,000 12
57,822,000 71,300,00016,949,000 13,636,000 92 559 13
48 53 (GROUPE ESSEC) 45 14
44 61 50 45 15
36 100 34 43 16
17
14 16 3.10 3.13 3/3 3/4 3/3 4/4 3/3 1/1 3/4 4/4 4/4 18
19
A.2.1 (i) (ii) (iii) A.4.2 A.4.2 20
19 (i) (ii) (iii) (iv) (v) B.1.3 (i) 21
(ii) (iii) (iv) B.1.4 1/1 1/1 1/1 22
12 13 (i) (ii) (iii) (iv) 23
(v) (vi) (vii) (viii) C.3.3 (i) (ii) (iii) (i) (ii) (iii) 24
4/4 4/4 4/4 (i) (ii) (iii) 25
(iv) (v) C.3.3 (i) (ii) A.5.4 26
36 37 1,924 2,005 3,929 27
28
45 38 17 18 34 4244(e) 29
132 33 87(2) 14 16 30
352 XV 0.25 1 12,530,000 12,530,000 0.85% 2 331,288,020 331,288,020 22.36% 3 1. 1,481,592,564 2. 12,530,000 3. Basic Charm Investment LimitedBasic Charm Rainstone International Limited Rainstone 331,288,020Rainstone100% 331,288,020 352 XV 31
35 43(b) 36%11% 40% 11% 5% 32
336 1 2 331,288,020 22.36% Rainstone 2 331,288,020 22.36% Basic Charm 2 331,288,020 22.36% 3 90,000,000 6.07% China Spirit Limited CSL 3 90,000,000 6.07% Vigor Online Offshore Limited Vigor 3 90,000,000 6.07% COL Capital LimitedCOL 3 90,000,000 6.07% 1. 1,481,592,564 2. Basic Charm Rainstone331,288,020 Rainstone100% Rainstone 3. Sparking Summer LimitedSSL Classic Fortune LimitedCFL 90,000,000 CFL COL COL SSLVigor COL 64.29% COLCSLVigor Vigor CSLCSL 336 33
60% 4,661,000 (i) (ii) (iii) (iv) 34
17 28 35
38 131 90 36
37
8 388,935 552,847 (350,614) (509,121) 38,321 43,726 9 36,081 71,831 10 6,522 12,924 41(a) (202,425) (12,220) (8,178) (49,778) (34,173) 11 (35,158) (73,923) (218,657) 12,207 13 (400) (1,857) (219,057) 10,350 14 139 15 (219,057) 10,489 (225,296) 2,487 6,239 8,002 (219,057) 10,489 16 (16.73) 0.28 (16.73) (16.73) 0.27 (16.73) 38
(219,057) 10,489 (72) 28,823 (2,157) (72) 26,666 (219,129) 37,155 (225,368) 17,989 6,239 19,166 (219,129) 37,155 39
17 19,050 471,596 18 16,510 19 39,781 69,479 20 7,770 21 8,001 22 2,591 23 8,780 268 39(a) 6,818 29 2,856 30 34,091 122,236 565,355 24 241,219 25 1,333 18 439 26 48,554 27 59,114 28 57,822 29 98,745 228,240 42 756 1,544 18,604 721 31 13,636 31 126,671 60,647 344,652 613,393 32 23,154 109,467 42 682 4,876 42 9,087 2,283 7,891 1,377 33 17,081 515,079 57,895 633,082 286,757 (19,689) 408,993 545,666 40
34 370,398 182,349 (10,809) 130,725 359,589 313,074 45,737 192,882 405,326 505,956 42 450 33 10,341 36 3,667 28,919 3,667 39,710 408,993 545,666 38 131 41
a b c d 182,349 918 44,203 26,589 1,799 824 14,108 24,295 295,085 186,677 481,762 16,211 16,211 12,612 28,823 (709) (709) (1,448) (2,157) 2,487 2,487 8,002 10,489 15,502 2,487 17,989 19,166 37,155 1,017 (1,017) (5,230) (5,230) (7,731) (7,731) 182,349 918 44,203 42,091 1,799 824 15,125 25,765 313,074 192,882 505,956 (72) (72) (72) (225,296) (225,296) 6,239 (219,057) (72) (225,296) (225,368) 6,239 (219,129) (32,060) (824) (16,037) 48,921 912 (912) 22,500 22,500 22,500 (8,815) (8,815) 188,049 70,661 258,710 258,710 (9,327) (9,327) (9,327) 556 556 40,097 40,097 41(a) (185,222) (185,222) 370,398 61,334 918 44,203 9,959 1,799 22,500 (151,522) 359,589 45,737 405,326 (a) (b) (c) 0.2540,000,000 0.2520,000,000 40(b) (d) 42
(218,657) 12,207 139 (218,657) 12,346 233 410 (381) (2,866) 21,506 28,691 311 439 198 (39) 35,158 73,923 (3,642) (22,551) (39,944) 202,425 (258) (72) (8,800) 14,528 63,902 (2,175) (6,994) 10,276 (18,044) 35,417 5,402 (9,989) 1,281 (54,180) (25,476) (47,210) (3,182) (28,231) 1,506 (101,082) 37,913 2,617 (6,167) (98,465) 31,746 43
(32,445) (17,499) (8,780) (2,591) (5,230) 2,272 14,554 2,197 2,010 40 (18,564) 29 (30,000) 30 (34,091) (268) (6,818) 41 139,220 1,572 20,799 1,129 241,219 272,150 (3,464) (404,761) (116,207) (11,454) (62,357) (1,883) (8,469) (7,163) 4,876 68,217 170,809 258,710 (9,327) (107,661) (11,348) 66,024 16,934 60,647 41,269 2,444 126,671 60,647 44
1. 45 2. Shanghai Allied Cement Limited ChinaVision Media Group Limited 3. 1 23 32 1 32 1 27 45
3. 2 7 8 9 39 13 15 16 18 5 3980 1 1 7 7 46
3. 8 8 8 23 23 23 23 32 32 32 32 0.30437,195,521 32 47
3. 5 1 2 24 5 27 1 39 1 1 3 1 7 4 2 3 3 1 9 6 5 14 1 17 4 19 1 2 3 4 5 6 3 27 48
3. 9 39 (i) (ii) 9 4. 49
4. (A) (B) 50
4. (C) 3 (D) 51
4. (D) (E) 52
4. (F) 53
4. (G) (H) 54
4. (H) (I) 50 (J) (K) 55
4. (L) (M) (N) 56
4. (O) (P) (Q) 57
4. (Q) (R) 58
4. (S) (T) 59
4. (U) (V) (i) 60
4. (V) (i) (ii) 61
4. (V) (ii) 62
4. (V) (iii) 63
4. (V) (iv) (v) 5. 4 64
5. 59,114,000 27 183,706,000 176,672,000 65
5. 39,781,000 69,479,000 19 40(c) 6. 33 66
7. 57,822 260,096 543,742 42,865 626,119 33 33 67
7. 100 100 973,000 104,182,000 1,119,000 1,966,000 31,792,000 17,081,000 383,021,000 241,219,000 68
7. 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 4,964 (5,874) 82 69
7. 10% 4,828,000 70
7. 71
7. % 12 18,533 18,533 17,081 14,151 1,806 58 16,015 16,015 682 682 682 9,087 9,087 9,087 23,920 1,806 18,591 44,317 42,865 % 17.66 10,592 1,109 430,746 442,447 405,922 5.41 71,022 9,080 30,381 11,595 122,078 119,498 47,488 6,392 39,210 93,090 93,090 5.58 4,876 3,181 8,057 5,326 2,283 2,283 2,283 136,261 16,581 500,337 11,595 3,181 667,955 626,119 72
7. 8. 45,752 113 343,070 552,847 388,935 552,847 73
8. 8 8 14 14 8 8 8 (i) (ii) (iii) (iv) (v) 74
8. (i) (ii) 40(a) (c) (iii) (iv) 41(a) (v) (1) 45,752 113 343,070 388,935 5,032 (838) 4,684 12,364 21,242 23,421 (202,425) (26,539) (34,356) (218,657) 75
8. (1) 552,847 4,402 557,249 49,637 (119) 49,518 50,741 258 50,999 (14,248) (14,248) (73,923) (73,923) 12,207 139 12,346 4 76
8. (2) 216,175 12,254 57,822 1,631 287,882 9,931 6,818 34,976 126,671 610 466,888 20,245 170 17,081 1,607 39,103 10,219 682 7,891 3,667 61,562 77
8. (2) 862,525 721 241,219 60,647 13,636 1,178,748 74,032 35,435 2,283 1,377 525,420 5,326 28,919 672,792 78
8. (3) 35,898 11,884 47,782 11,371 11,371 16,282 54 12,987 3,122 32,445 209 149 358 749 8 20,779 281 21,817 29,620 29,620 160 38 198 5,702 5,702 802 34,356 35,158 11,795,000 ( : ) 79
8. (3) 17,177 245 17,422 77 17,499 28,712 20 28,732 398 29,130 245 165 410 410 (39) (39) (39) 80
8. 9,931 12 388,935 552,847 78,214 565,343 388,935 552,847 88,145 565,355 45,752 113 272,017 396,824 71,053 156,023 388,935 552,847 81
8. 10% 9. 22,551 39,944 3,653 a 9,979 19,711 b 2,419 1,132 8,523 36,081 71,831 (a) (b) 82
10. (198) 39 870 10,429 381 2,866 (233) (410) 5,702 6,522 12,924 2,060,000 3,642,000 11. 7,926 13,096 18 51 27,214 60,776 35,158 73,923 83
12. * 1,458 1,140 8 2,606 10 1,124 54 1,188 10 1,716 72 1,798 * 808 8 816 120 200 320 120 390 510 10 70 80 10 70 80 10 70 80 10 70 80 10 90 100 10 90 100 ** 38 38 120 120 *** 120 120 120 433 553 2,584 2,694 70 5,348 400 2,769 72 3,241 * ** *** 84
12. 1,000,000 1,511 1,835 8 40 1,519 1,875 13. (5,902) (6,576) 3,736 2,976 36 (2,166) (3,600) 1,766 1,743 (400) (1,857) 17.5% 16.5% 85
13. 25% 50% (218,657) 12,207 139 (218,657) 12,346 25% 25% 54,664 (3,086) (56,165) (13,624) 4,358 10,907 (3,842) (2,582) 1,210 61 417 6,077 (4,357) (2,217) 3,736 2,976 (421) (369) (400) (1,857) 86
14. 80% 20%4,700,000 5,341,000 (119) 41(b) 258 139 4,402 (4,455) 466 (236) (296) (119) (119) 87
14. 23 622 645 3,412 (398) (176) (465) (1) 41(b) 11,025,000 77,000 88
15. 2,047 1,561 29,620 320,994 509,121 122 173 21,384 28,120 21,506 28,293 311 439 2,436 830 412 777 382 33,823 30,539 16. (225,296) 2,487 1,346,683,584 875,274,052 89
16. 437,197,521 437,197,521 437,197,52134 40(b)(ii) (225,296) 2,487 139 (225,296) 2,348 0.01 139,000 90
17. 271,543 459 479,032 1,414 3,805 8,560 764,813 18,466 31 32,755 96 241 561 52,150 2,861 3,404 10,295 76 863 17,499 (162) (1,966) (68) (652) (2,848) (1,703) (12,609) (127) (161) (130) (14,730) 1,598 10,074 (11,678) 6 292,603 490 510,690 3,899 9,202 816,884 464 4,507 3,425 9,388 3,205 11,456 32,445 120 238 358 (1,529) (444) (1,132) (3,105) (290,836) (490) (512,685) (9,388) (3,784) (8,736) (825,919) 702 4,507 1,550 3,114 10,790 20,663 78,570 404 213,622 2,715 4,478 299,789 5,325 28 14,569 169 283 20,374 8,717 40 18,651 323 787 28,518 (11) (317) (60) (489) (877) (256) (2,058) (99) (103) (2,516) 92,345 472 244,467 3,048 4,956 345,288 6,267 134 13,377 270 1,336 21,384 (155) (555) (710) (98,120) (472) (257,835) (2,910) (5,012) (364,349) 492 134 9 253 725 1,613 210 4,373 1,541 2,861 10,065 19,050 200,258 18 266,223 851 4,246 471,596 91
17. 2.7% 10% 4.5% 10% 4% 8% 10% 23% 15% 25% 71,300,000 13,400,000 15,500,000 210 220 200,038 210 200,258 92
18. 16,949 16,510 439 16,949 77,273,000 19. 83,618 39,781 41(a)) (83,618) 39,781 14,139 (14,139) 39,781 69,479 93
19. A 972 B 34,926 C 3,883 D 69,479 39,781 69,479 A B A B 16.5% A B A B A B 94
19. C C 19.76% C C C D D 10% D D 12.94% D D 95
20. 7,854 535 8,389 (8,389) 418 28 173 619 122 (741) 7,770 10 10 50 96
21. 2,107 5,894 8,001 2,107 5,894 8,001 2 2 22. 2,591 23. 8,780 97
24. Redstone Gold LimitedRedstone Sunnysino (B.V.I.) LimitedSunnysino Sunnysino Limited 150,000,000 Redstone 50,000,000 41,219,000 15% 25. 26. 35,852 6,147 6,555 48,554 98
27. 40 69,390 19,344 (29,620) 59,114 39,017,000 20,097,000 28. 57,822 10% 129(2) 1,099,037,500 3.96% 17,081,000 99
29. 51,910 252,795 (2,913) (36,426) 48,997 216,369 54,846 29,795 (2,242) (17,924) 52,604 11,871 101,601 228,240 120 0 90 5,784 173,285 91 180 41,227 33,830 181 365 1,986 7,364 1,890 48,997 216,369 100
29. 32,740,000 33 3,409,000 33 1,890,000 518 1,890 101
29. 30,000,000 12% 15,000,000 2,842,000 15,000,000 54,350 54,805 3,737 233 410 (381) (2,866) (47,675) (1,736) (1,372) 5,155 54,350 5,155,000 54,350,000 102
30. 34,091,000 10.5% 31. 0.01% 0.36% 0.01% 1.98% 13,636,000 0.81% 3.42% 1,966 104,182 1,119 103
32. 3,379,000 47,943,000 0 90 1,806 15,300 91 180 29,505 181 365 1,177 1,573 1,961 3,379 47,943 120210 104
33. 17,081 208,286 317,134 17,081 525,420 17,081 390,795 134,625 17,081 525,420 : 17,081 515,079 10,341 17,081 525,420 17,081 515,079 10,341 17,081,000 28 32,740,000 390,795,000 (a) (b) (c) (d) 17 18 29 105
33. 17,081 83,500 299,521 17,081 383,021 17,081 113,422 292,500 17,081 405,922 : 94,864 14,293 5 10,341 119,498 106
33. 1.5% 71,000 12,500 3.5% 7,021 160% 11,363 120% 17,614 119,498 12% 4.83% 22.15% 3.98% 8.39% 71,000,000 24 107
34. 0.25 2,000,000,000 2,000,000,000 500,000 500,000 8,000,000,000 2,000,000 10,000,000,000 2,000,000,000 2,500,000 500,000 729,395,043 729,395,043 182,349 182,349 1 315,000,000 78,750 2 437,197,521 109,299 1,481,592,564 729,395,043 370,398 182,349 (1) 0.27145,000,000 0.52170,000,000 (2) 0.30437,197,521 108
35. 10%10% 10% 30% 148,159,256 10% 1% 12 0.1%5,000,000 2110 10 109
36. 32,932 (4,830) 644 28,746 2,245 (329) 1,916 (2,150) 369 38 (1,743) 33,027 (4,790) 682 28,919 (1,496) (270) (1,766) 2,000 1,937 3,937 (31,531) 4,790 (682) (27,423) 2,000 1,667 3,667 23,281,000 42,184,000 183,706,000 176,672,000 11,411,000 9,372,800 11,329,0002012 110
37. 5% 1,000 20% 22% 20% 22% 5,975,000 5,289,000 123,000 104,000 38. 2,848 1,783 10,463 1,648 20,269 6,591 12,277 30,732 20,516 111
39. (a) Right Point International LimitedRight Point Right Point 26,000,000 29,500,000 6,000,000 6,818,000 20,000,000 22,727,000 Right Point25% (b) Ideal Growth Investments LimitedIdeal Growth Ideal Growth Prefect Strategy International Limited 400,000,000 50,000,000350,000,000 70% 50% 50% 112
39. (c) 25,000,000 28,409,000 (d) 6,801 113
40. (a) 75% 1,278,000 203 6,057 17 5 1,742 (4,434) (3,182) 408 (102) 972 1,278 1,278 1,742 114
40. (a) 1,324,000 (b) Year Wealth Limited Year Wealth 51%58,273,000 0.660,000,000 19,600,000 22,273,000 15,000,000 26,000,000 20,000,000 (ii) 115
40. (b) 6 6 55,583 7,750 63,333 47,891 47,891 1,703 1,703 (32,106) (32,106) (35,035) (35,035) (2,292) (2,292) (1,937) (1,937) 35,750 5,813 41,563 (31,716) 34,926 44,773 i 15,000 ii 7,500 22,500 22,273 44,773 (22,273) 1,703 (20,570) 116
40. (b) (i) 40,000,0000.25 1.00 0.88 15,000,000 (ii) 15,000,000 17,045,00026,000,000 29,545,000 20,000,0000.25 20,000,000 0.6 20,000,000 7,500,000 Year Wealth Year Wealth Year Wealth12,743,000 117
40. (c) 51% 7,284,000 149 149 8,001 8,001 10,331 10,331 881 881 264 264 (730) (730) (2,000) (2,000) 10,895 6,001 16,896 (8,279) 3,883 (5,216) 7,284 7,284 264 118
40. (c) 703,000 (a) (c) 434,800,000219,059,000 41. (a) Sunwealth Holdings LimitedSunwealth Sunwealth 278,504,000 200,000,000 119
41. (a) 461,570 16,638 7,648 1,333 50,729 224,595 11,663 3,182 160 11,364 60,580 (121,666) (282,182) (6,932) (171,795) (27,423) 239,464 (185,222) 69,479 123,721 (202,425) (78,704) 200,000 (278,504) (200) (78,704) 200,000 (60,580) (200) 139,220 120
41. (a) 41,337,000 30,044,0009,732,000 7,844,000 30,186,000 16,935,000 (b) 4,700,000 12,214 604 14,161 48 201 (19,657) (331) 7,240 (1,448) (709) 5,083 258 5,341 1,773 3,568 5,341 1,773 (201) 1,572 121
41. (b) 14 42. 40% (1) 10% (2) 4,661,000 6,747,000 (a) 534 1,506 (b) 6,856 4,522 122 228 6,978 4,750 122
42. i 756 i 682 4,876 i, iii 9,087 2,283 ii 450 (i) (ii) 2,799,000 3,181,000 5.58% 5.58% (iii) 123
43. 39 (a) 219,000,00069,000,000 150,000,000 30% 50% 39(b) 100% 50% (b) 111,550,000 0.250.475 (c) (www.people.com.cn) 124
44. 36,345 102,344 a 192,256 374,866 228,601 477,210 57,822 74 277 b 60,562 104,100 954 161,996 61,793 8,050 12,081 c 62,425 31,038 d 275,000 70,475 318,119 91,521 (256,326) 320,122 220,884 370,398 182,349 e (50,276) 38,535 320,122 220,884 125
44. 45 (a) 2.11% 4.35% (b) 50,000,000 15% (c) (d) 262,500,000 12,500,000 262,500,00012,500,000 22.15% 5.85% 126
44. (e) 918 65,409 23,233 89,560 (68,976) (68,976) 17,951 17,951 918 65,409 17,951 (45,743) 38,535 (172,645) (172,645) 22,500 22,500 70,661 70,661 (9,327) (9,327) 61,334 918 65,409 17,951 22,500 (218,388) (50,276) (i) All Gold Investment Limited (ii) 127
44. (e) (i) (ii) 61,334 65,409 65,409 (218,388) (45,743) (91,645) 19,666 128
45. % % % % AII-cement Limited d 1 100 AII-Shanghai Inc. d 15,376,500 83.3 SAC Enterprises Limited 1,000 100 100 100 100 100 a, d 1,000,000 100 b, d 24,000,000 60 d 10,000,000 100 a, d 9,200,000 100 Sino Able Investments Limited 1 100 100 129
45. % % % % c 1,500,000 e 1,300,000 e 1,500,000 e 1,000,000 f 200,000 f 3,000,000 g 1,000,000 100 Rich Data Limited 1 100 130
45. (a) (b) (c) (d) (e) 75% 51% 75% 51% (f) 51%51% (g) 131
349,437 386,511 434,300 552,847 388,935 (32,120) 14,406 (16,595) 12,346 (218,657) (420) (7,212) 1,400 (1,857) (400) (32,540) 7,194 (15,195) 10,489 (219,057) (35,233) 387 (21,658) 2,487 (225,296) 2,693 6,807 6,463 8,002 6,239 (32,540) 7,194 (15,195) 10,489 (219,057) 885,135 868,454 1,133,021 1,178,748 466,888 (434,673) (394,714) (651,259) (672,792) (61,562) 450,462 473,740 481,762 505,956 405,326 (159,822) (173,093) (186,677) (192,882) (45,737) 290,640 300,647 295,085 313,074 359,589 132