at 31 December 2020

<table><tr><td rowspan="2"></td><td rowspan="2">Note</td><td>2020</td><td>2019</td></tr><tr><td>HK$’000</td><td>HK$’000</td></tr><tr><td>Non-current liabilities</td><td></td><td></td><td></td></tr><tr><td>Bank loans</td><td>20</td><td>1,057,943</td><td>805,907</td></tr><tr><td>Lease liabilities</td><td>22</td><td>568,563</td><td>790,497</td></tr><tr><td>Deferred tax liabilities</td><td>23(b)</td><td>162,859</td><td>176,931</td></tr><tr><td></td><td></td><td>1,789,365</td><td>1,773,335</td></tr><tr><td>NET ASSETS</td><td></td><td>1,882,735</td><td>2,155,933</td></tr><tr><td>CAPITAL AND RESERVES</td><td>24</td><td></td><td></td></tr><tr><td>Share cailpta</td><td></td><td>279,967</td><td>279,967</td></tr><tr><td>Reserves</td><td></td><td>1,603,365</td><td>1,876,525</td></tr><tr><td>Total equity attributable to equity holders of the Company</td><td></td><td>1,883,332</td><td>2,156,492</td></tr><tr><td>Non-controlling interests</td><td></td><td>(597)</td><td>(559)</td></tr><tr><td>TOTAL EQUITY</td><td></td><td>1,882,735</td><td>2,155,933</td></tr></table>

Approved and authorised for issue by the Board of Directors on 26 March 2021.

<table><tr><td>Wu Kebo</td><td> Chow Sau Fong, Fiona</td></tr><tr><td>Director</td><td> Director</td></tr></table>

<table><tr><td rowspan="2"></td><td>Share 
cailpta</td><td>Share 
premium</td><td>Cailpta 
redemipton 
reserve</td><td>Contributed 
surplus</td><td>Reserve 
funds</td><td>Exchange 
reserve</td><td>Retained 
profits</td><td> Total</td><td>Non-
controlling 
interests</td><td>Total 
equity</td></tr><tr><td>HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td></tr><tr><td>Balance at 1 January 2020</td><td>279,967</td><td>771,749</td><td>15,886</td><td>80,000</td><td>3,134</td><td>5,098</td><td>1,000,658</td><td>2,156,492</td><td>(559)</td><td>2,155,933</td></tr><tr><td>Changes in equity for 2020:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loss for the year</td><td>–</td><td> –</td><td> –</td><td> –</td><td> –</td><td> –</td><td>(288,171)</td><td>(288,171)</td><td>(3)</td><td>(288,174)</td></tr><tr><td>Other comprehensive income</td><td>–</td><td> –</td><td> –</td><td> –</td><td> –</td><td>15,011</td><td> –</td><td>15,011</td><td>(35)</td><td>14,976</td></tr><tr><td>Total comprehensive income</td><td>–</td><td> –</td><td> –</td><td> –</td><td> –</td><td>15,011</td><td>(288,171)</td><td>(273,160)</td><td>(38)</td><td>(273,198)</td></tr><tr><td>Balance at 31 December 2020</td><td>279,967</td><td>771,749</td><td>15,886</td><td>80,000</td><td>3,134</td><td>20,109</td><td>712,487</td><td>1,883,332</td><td>(597)</td><td>1,882,735</td></tr></table>

<table><tr><td rowspan="2"></td><td>Share 
cailpta</td><td>Share 
premium</td><td>Cailpta 
redemipton 
reserve</td><td>Contributed 
surplus</td><td>Reserve 
funds</td><td>Exchange 
reserve</td><td>Retained 
profits</td><td> Total</td><td>Non-
controling 
interests</td><td>Total 
equity</td></tr><tr><td>HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td></tr><tr><td>Balance at 1 January 2019</td><td>279,967</td><td>771,749</td><td>15,886</td><td>80,000</td><td>3,134</td><td>(4,826)</td><td>1,035,750</td><td>2,181,660</td><td>(545)</td><td>2,181,115</td></tr><tr><td>Changes in equity for 2019:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loss for the year</td><td> –</td><td>– 
</td><td> –</td><td> –</td><td> –</td><td> –</td><td>(35,092)</td><td>(35,092)</td><td>(24)</td><td>(35,116)</td></tr><tr><td>Other comprehensive income</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>9,924</td><td> –</td><td>9,924</td><td>10</td><td>9,934</td></tr><tr><td>Total comprehensive income</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>9,924</td><td>(35,092)</td><td>(25,168)</td><td>(14)</td><td>(25,182)</td></tr><tr><td>Balance at 31 December 2019</td><td>279,967</td><td>771,749</td><td>15,886</td><td>80,000</td><td>3,134</td><td>5,098</td><td>1,000,658</td><td>2,156,492</td><td>(559)</td><td>2,155,933</td></tr></table>

The notes on pages 102 to 157 form part of these financial statements.