ChatDOC/OCRFlux-bench-single huggingface dataset:
Note
附註	2020
二零二零年	2019
二零一九年
RMB’000
人民幣千元	RMB’000
人民幣千元
Liabilities 負債
Non-current liabilities 非流動負債
Borrowings 借款	23	13,399,808	4,694,786
Deferred income tax liabilities 遞延所得稅負債	16	1,954477,	634,906
15,3542,85	5,329,692
Current liabilities 流動負債
Trade and other payables 貿易及其他應付款項	24	15,352,054	12,020,186
Borrowings 借款	23	67114,,56	12,087,907
Amounts due to non-controlling interests 應付非控制性權益款項	32	6,07522,6	5,146,101
Amounts due to associates 應付聯營公司款項	33	159274,	485,280
Amounts due to joint ventures 應付合營企業款項	33	507,84	50,776
Contract liabilities 合約負債	25	26,815,905	15,552,490
Income tax liabilities 所得稅負債	2,50742,9	2,302,360
57,67221,8	47,645,100
Total liabilities 總負債	73,026,503	52,974,792
Total equity and liabilities 總權益及負債	85,97417,8	62,609,340

The above consolidated balance sheet should be read in conjunction with the accompanying notes.

The financial statements on pages 118 to 300 were approved for issue by the Board of Directors on 29 March 2021 and were signed on its behalf:

上述合併資產負債表應與隨附附註一併閱覽。

列載於第 118 至 300 頁的財務報表已由董事會於二零二一年三月二十九日批准刊發，並由以下董事代表簽署：

黃若虹 WONG Yeuk Hung	黃若青 HUANG Ruoqing
董事 Director	董事 Director
November 15, 2016 expressed an unqualified opinion on those consolidated financial statements and financial statement schedule.

/s/ Deloitte & Touche LLP

Philadelphia, Pennsylvania

November 15, 2016
附 3：纺织服装行业近一年增持比例超过流通股 1%的个股梳理

代码	名称	类别	占流通股比(%)
002083.SZ	孚日股份	实际控制人、员工持股	2.24
600398.SH	海澜之家	高管	2.01
002042.SZ	华孚色纺	员工持股	2.69
002404.SZ	嘉欣丝绸	关联方，同为实际控制人控制	1.04
600137.SH	浪莎股份	举牌	5.00
300005.SZ	探路者	员工持股	1.78
600177.SH	雅戈尔	实际控制人、博睿传媒投资等	2.66
600070.SH	浙江富润	控股股东，计划未来增持 2%	0.56

数据来源：Wind、东方证券研究所

附 4：国内外重点上市公司估值表

股票代码	公司名称	评级	股价
(当地货币)	总市值(百
万美元)	每股收益	市盈率	未来三
年复合
增长率
2015A	2016E	2017E	2018E	2015A	2016E	2017E	2018E
A 股市场
002029.SZ	七匹狼	增持	10.62	1163	0.36	0.35	0.42	0.50	30	30	26	21	10.6%
002327.SZ	富安娜	买入	9.92	1250	0.48	0.50	0.54	0.60	21	19	18	17	8.1%
002293.SZ	罗莱生活	买入	13.18	1341	0.59	0.47	0.55	0.63	22	28	24	21	4.6%
300005.SZ	探路者	买入	14.05	1210	0.44	0.34	0.40	0.45	32	39	35	31	0.9%
000726.SZ	鲁泰 A	买入	12.92	1483	0.75	0.85	0.97	1.09	17	15	13	12	12.1%
002003.SZ	伟星股份	增持	15.06	979	0.55	0.69	0.83	0.96	27	20	18	16	20.0%
601566.SH	九牧王	增持	17.13	1427	0.70	0.73	0.77	0.83	24	23	22	21	5.5%
002612.SZ	朗姿股份	增持	17.30	1003	0.19	0.41	0.52	0.64	91	43	33	27	19.2%
603001.SH	奥康国际	买入	22.51	1308	0.98	0.94	1.10	1.27	23	24	20	18	7.8%
600315.SH	上海家化	增持	29.64	2893	3.28	0.32	0.62	0.76	9	93	48	39	-27.3%
002563.SZ	森马服饰	买入	9.89	3863	0.50	0.53	0.59	0.69	20	19	17	14	21.0%
600439.SH	瑞贝卡	增持	7.87	1076	0.15	0.18	0.21	0.23	52	44	37	34	12.9%
600398.SH	海澜之家	买入	10.51	6845	0.66	0.70	0.77	0.86	16	14	13	12	16.1%
002640.SZ	跨境通	买入	17.14	3557	0.12	0.29	0.55	0.89	143	55	30	18	94.9%
603555.SH	贵人鸟	买入	-	-	0.54	0.53	0.58	0.63	-	-	-	-	5.4%
600612.SH	老凤祥	买入	39.90	2572	2.14	2.17	2.36	2.58	19	18	17	15	6.4%
002127.SZ	南极电商	增持	11.70	2609	0.41	0.20	0.32	0.49	59	37	24	24	59.5%
603808.SH	歌力思	买入	31.31	1127	0.64	0.69	1.07	1.30	45	29	24	24	26.3%
002083.SZ	孚日股份	买入	7.12	937	0.34	0.41	0.47	0.54	17	15	13	13	14.1%
002763.SZ	汇洁股份 增持	30.92	968	0.77	0.85	0.93	1.08	36	34	28	28	12.3%
603877.SH	太平鸟 增持	36.04	2482	1.28	0.99	1.16	1.34	36	31	27	27	5.9%
香港市场
0210.HK	达芙妮国
-
际	0.78	166	-0.50	-0.06	0.01	0.00	-	-	130	-	-
0321.HK	德永佳集
-
团	5.25	934	0.76	0.42	0.45	0.48	7	12	12	11	-14.5%
0330.HK	思捷环球 -	6.30	1576	0.01	0.03	0.16	0.26	39	217	39	24	190.9%
0551.HK	裕元集团 -	31.20	6621	2.52	2.61	2.76	2.88	12	12	11	11	4.1%
0589.HK	宝姿 -	3.04	217	0.08	-	-	-	36	-	-	-	-
0891.HK	利邦 -	0.57	128	-0.25	-0.11	-0.08	-0.03	-	-	-	-	-
1234.HK	中国利郎 -	5.15	801	0.52	0.50	0.52	0.56	10	10	10	9	3.6%
1361.HK	361 度 -	2.86	761	0.23	0.32	0.36	0.41	13	9	8	7	22.8%
1368.HK	特步国际 -	3.23	923	0.28	0.36	0.39	0.42	12	9	8	8	16.5%
1836.HK	九兴控股 -	12.98	1327	0.80	0.86	0.99	1.06	16	15	13	12	10.9%
1880.HK	百丽国际 -	4.98	5406	0.44	0.45	0.45	0.46	14	11	11	11	4.8%
1968.HK	匹克体育 -	-	-	0.22	0.20	0.22	0.23	-	-	-	-	6.7%
2020.HK	安踏体育 -	22.10	7615	1.11	1.25	1.45	1.66	21	18	15	13	16.1%
2313.HK	申洲国际 -	50.40	9074	2.47	2.75	3.22	3.71	21	18	16	14	18.3%
2331.HK	李宁 -	4.66	1304	0.34	0.25	0.37	0.45	50	18	13	10	13.4%
2698.HK	魏桥纺织 -	5.58	858	1.01	-	-	-	6	-	-	-	-
3818.HK	中国动向 -	1.49	1062	0.18	0.15	0.15	0.11	8	10	10	13	-13.2%
3998.HK	波司登 -	0.67	921	0.04	-	-	-	16	-	-	-	-
1910.HK	新秀丽 -	28.80	5238	1.40	1.46	1.71	1.91	21	20	17	15	10.8%
1913.HK	普拉达 -	34.70	11427	1.10	0.96	1.12	1.25	32	37	31	28	5.3%
海外市场
MC.PA	LVMH Moet Hennessy	206.65	111411	7.92	9.14	10.06	10.85	20	23	21	19	11.3%
RMS.PA	Hermes	447.10	50183	10.42	11.42	12.41	13.48	33	39	36	33	9.4%
CDI.PA	International
Christian Dior	221.30	42471	8.75	11.10	12.36	14.78	13	20	18	15	20.2%
TIF	Tiffany & Co.	93.69	11670	3.57	3.97	4.37	4.74	21	24	21	20	9.2%
IDX.DE	Inditex, S.A.	33.56	111189	1.01	1.18	1.33	1.49	33	29	25	23	13.8%
HSMB.SG	Hennes & Mauritz	218.50	40064	11.26	12.17	13.51	14.81	26	18	16	15	9.9%
NXT.L	Next PLC	39.99	7314	4.41	4.04	3.97	4.04	17	10	10	10	-2.2%
GPS	Gap Inc.	24.05	9625	1.69	1.98	2.03	2.08	15	12	12	12	5.3%
LB	Limited Brands,
Inc.	47.85	13628	4.04	3.20	3.43	3.91	24	15	14	12	-2.1%
BRBY.L	Burberry Group PLC	17.34	9454	0.70	0.76	0.83	0.91	23	23	21	19	8.8%
RL	Polo Ralhp Lauren
Corp.	80.71	6635	4.65	5.60	5.23	5.75	16	14	15	14	4.5%
FIG. 9.— top row: Left, middle, and right panels show the evolution of 2013 April 11 CME in the running difference image of HI2-A, HI1-A, and COR2-A respectively. bottom row: Running difference images from COR2-B, HI1-B, HI2-B in Left, middle and right panels, respectively. The contours of the elongation angle (green) and the position angle (blue) are also deployed on each image. In all panels, horizontal red line is along the ecliptic and indicates the position angle of the Earth and vertical red line (left panel) refers \( \mathcal { P } \) position angle.

methods essentially convert the elongation into distance from the Sun assuming a fixed direction (longitude, here \( 1 . 3 ^ { o } \) East) of CME propagation as an input.

On applying the above methods on the STEREO-A and B observations, we noticed that estimated kinematics also largely overestimates the speed (approx. 900-1200 km/s even beyond \( 1 0 0 R _ { \odot } , \)) of the CME and the method becomes com-pletely unreliable once the CME reaches higher elongations. The direction of propagation of CMEs is \( 1 4 6 ^ { c } \) and \( 1 2 8 ^ { o } \) away from the line connecting the Sun with STEREO-A and B spacecraft, respectively. As the CME propagating in East-ward is little closer to 90ofrom the STEREO-B spacecraft, the derived kinematics and arrival time from this spacecraft are more accurate than using STEREO-A observations. Among all the three single spacecraft methods, the most inaccurate re-sults are obtained from the FP method and less inaccurate are from the HM method. This probably confirms the assump-tion that the larger structure of CME is somewhat suitable for estimating the time varying profile of the CME kinemat-ics. However, the failure of these single spacecraft methods at higher elongation could be due to real deflection or artificial deflection because of expansion or/and due to changes in the approximated idealized structure (Wood et al. 2010; Howard 2011; Mishra & Srivastava 2014).

We further applied the fitting version of the three single spacecraft reconstruction methods, namely Fixed-Phi Fitting (FPF: Sheeley et al. 2008), Harmonic Mean Fitting (HMF: Möstl et al. 2011), and Self-Similar Expansion Fitting (SSEF: Davies et al. 2012). Noting the expressions for the elongation as a function of speed and direction from the earlier FP, HM and SSE methods, these methods fit the observed elongation-time profile of the CME to an analytical function. From the FPF method on STEREO-A, we found that CME speed as 654 km/s, propagation direction as 99ofrom STEREO-A space-craft and its launch time at 11 April 05:05. Similarly, we also applied the HMF and SSEF methods (with \( \lambda \)\( = 5 0 ^ { o } \)) and ob-tained the speed, propagation direction and launch time of the CME. The results obtained for STEREO-A and B are shown in Figure 13 and 14, respectively and summarized in Table 3. In these figures, the results for SSEF, which fall between the FPF and HMF methods, are not plotted to avoid cluttering.

Moreover, we have also analyzed the in-situ observations of this CME obtained from WIND spacecraft (Figure 12). The
Garde (‘Joyful Keep’) (Lancelot 1980, vol. 1, p. 283; Truitt 2015, p. 59). In these examples, and similar ones, the artificial figures can be defeated by the hero because he is the hero—one indication of his prowess as a warrior is his ability to subdue the mechanical guardians; the implication is that any other challenger would be defeated. And in all of these instances, the artificial knights, archers, or pikemen are seen as better than their human counter-parts. Unlike human sentries, the artificial ones will never get tired or ill, lazy or lecherous, and, like the sentries guarding Alardin’s tent, they cannot be tricked or bribed.

The repeated motif of the armed robot guard suggests concern about security and about loyalty, trust, and control. This concern extended beyond keeping a castle or mausoleum or bridge secure to keeping tabs on an entire empire. ‘The Salvation of Rome’ (Salvatio Romae) was an elaborate surveillance and alarm system that could perceive, assess, and react to events taking place far away. This device, attributed, like the bocca della verità, to Virgil, appears in several diferent texts from the late twelfth century onward. The most extensive description of this marvel appears in the natural philosophical treatise On the Natures of Things (De rerum natura, ca. 1190) by the English scholar and courtier Alexander Neckam (1157–1217); according to him, Virgil had built in Rome a palace which contained a number of wooden statues, each rep-resenting a diferent province of the empire, and each holding a bell in its hand.5 ‘Whenever any province dared to foment a plot against the majesty of the Roman Empire, the image of the intemperate traitor began to bang on the little bell. A soldier of bronze, seated on a bronze horse, on the topmost gable of the aforementioned palace, turned itself in the very direction where it might look toward that province’ (Ziolkowski & Putnam 2008, p. 856). Neckam’s description appears in a chapter about the potential of the liberal arts and the places where those arts flour-ished, thereby tying Virgil’s invention to his mastery of the liberal arts rather than forbidden branches of study, such as demonic magic. Furthermore, the function of the Salvatio Romae, to safeguard
the empire from revolt, recalls Virgil’s epic poem about the foundation of the Roman Empire, the Aeneid. Although Virgil may have been known more for his reputation as a magician and learned man in the Latin Christian West than for writing the Aeneid, he remained linked to the Roman Empire and was seen as having some kind of unoficial yet critically important over-sight of it. Moreover, Neckam was writing during a period when the ruling dynasty of England, the Plantagenets, controlled an empire that included England, Ireland, and most of what is now France. Henry II (1133–1189; r. 1154–1189) faced numerous rebellions—from castellans in his domains, from his Archbishop of Canterbury, Thomas Becket, and from his wife and sons. Henry’s son and successor, Richard I (1157–1199; r. 1189–1199), likewise spent a significant amount of time responding to challenges to his authority and rule. The invention of the Salvatio Romae mirrors the practical concerns of maintaining control over a large empire and the need to have reliable, timely information about threats to its stability.

# 2.3 Espionage and Surveillance

Artificial intelligence appears in multiple guises in textual and visual sources to provide surveillance and foster espionage, indi-cating a long-standing desire to use artificial means to gather information to gain advantage. The Salvatio Romae is one example, but there are many others. Catroptomancy (using a reflective surface, such as a bowl of water or a polished metal mirror, as a viewfinder) was one way to see events distant in time and place. All of the mantic arts (the arts of divination)—chiromancy (palm reading), geomancy (interpreting earth signs), pyromancy (fire signs), and scapulomancy (interpreting the marks on the shoulder blades of animals, often sheep or goats)—promised foreknowledge, but catroptomancy also promised knowledge of the distant now. In multiple versions of the history of Alexander the Great (widely translated and circulated in this period),
图表 8：传媒板块重点公司估值

EPS	P E
股票简称	代码	股 价	2014EPS	2015EPS	2016EPS	2014PE	2015PE	2016PE
互联网
信息服务	人民网	603000.SH	17.36	0.60	0.00	0.25	29	0	68
三六五网	300295.SZ	33.38	1.88	0.66	0.93	18	50	36
财经服务	东方财富	300059.SZ	21.82	0.14	0.97	0.67	159	22	33
同花顺	300033.SZ	76.62	0.22	1.14	2.22	348	67	34
大智慧	601519.SH	9.24	0.05	-0.24	-0.11	171	0	0
电子商务	欧浦钢网	002711.SZ	26.50	0.86	0.49	0.72	31	55	37
快乐购	300413.SZ	26.79	0.47	0.21	0.26	57	129	102
焦点科技	002315.SZ	62.80	1.02	0.00	0.92	62	0	69
生意宝	002095.SZ	54.69	0.16	0.00	0.00	342	0	0
上海钢联	300226.SZ	45.82	0.12	-1.16	0.06	381	0	815
网络游戏	掌趣科技	300315.SZ	11.27	0.27	0.17	0.32	42	68	36
中青宝	300052.SZ	22.00	-0.08	0.00	0.16	0	0	133
顺网科技	300113.SZ	88.94	0.54	0.90	1.46	165	99	61
天神娱乐	300114.SZ	32.00	0.45	0.44	0.58	71	72	55
昆仑万维	300418.SZ	29.70	1.55	0.38	0.49	19	77	61
游族网络	002174.SZ	33.59	1.67	1.60	0.81	20	21	42
网络视频	乐视网	300104.SZ	58.80	0.44	0.32	0.47	134	186	124
移动互联网/SP	拓维信息	002261.SZ	14.04	0.14	0.41	0.26	100	34	54
北纬通信	002148.SZ	18.20	0.06	0.02	0.21	303	778	86
朗玛信息	300288.SZ	35.39	0.33	0.23	0.34	107	155	104
神州泰岳	300002.SZ	8.52	0.49	0.20	0.24	18	43	36
互联网支撑商	二六三	002467.SZ	13.93	0.31	0.12	0.19	45	119	72
网宿科技	300017.SZ	63.81	1.54	1.02	1.70	41	62	37
互联网金融	腾邦国际	300178.SZ	19.55	0.53	0.30	0.42	37	65	47
京天利	300399.SZ	38.99	0.57	0.00	0.00	68	0	0
传 媒
图书出版	中南传媒	601098.SH	17.44	0.82	1.02	1.17	21	17	15
天舟文化	300148.SZ	18.90	0.39	0.39	0.71	48	48	27
皖新传媒	601801.SH	22.02	0.76	0.97	0.99	29	23	22
凤凰传媒	601928.SH	10.63	0.47	0.57	0.54	22	19	20
新华传媒	600825.SH	8.20	0.05	0.00	0.00	164	0	0
青岛碱业	600229.SH	11.79	0.19	0.00	0.00	62	0	0
时代出版	600551.SH	16.99	0.77	0.82	0.86	22	21	20
出版传媒	601999.SH	9.30	0.14	0.00	0.00	66	0	0
大地传媒	000719.SZ	14.49	0.87	0.00	0.00	17	0	0
视觉中国	000681.SZ	23.87	0.23	0.25	0.38	102	95	62
长江传媒	600757.SH	7.51	0.17	0.00	0.36	44	0	21
中文在线	300364.SZ	93.35	0.51	0.44	0.60	183	212	154
中文传媒	600373.SH	20.79	0.68	0.87	1.02	31	24	20
华闻传媒	000793.SZ	9.15	0.53	0.00	0.00	17	0	0
华媒控股	000794.SZ	0.00	0.00	0.00	0.00	0	0	0
浙报传媒	600633.SH	15.58	0.44	0.49	0.54	35	32	29
影视动漫	华谊兄弟	300027.SZ	27.58	0.73	0.78	0.88	38	35	31
华策影视	300133.SZ	25.90	0.62	0.46	0.62	42	56	42
华录百纳	300291.SZ	23.12	0.52	0.47	0.60	44	49	38
中视传媒	600088.SH	21.51	0.16	0.00	0.00	135	0	0
光线传媒	300251.SZ	25.47	0.33	0.31	0.42	77	82	60
万达院线	002739.SZ	80.30	1.60	1.05	1.61	50	77	50
慈文传媒	002343.SZ	41.56	0.27	0.63	0.99	152	66	42
宋城演艺	300144.SZ	27.30	0.65	0.45	0.66	42	61	41
新文化	300336.SZ	27.80	0.63	0.64	0.72	44	44	39
奥飞动漫	002292.SZ	33.77	0.68	0.44	0.56	50	77	60
营销服务	蓝色光标	300058.SZ	10.86	0.75	0.17	0.38	14	65	29
省广股份	002400.SZ	18.27	0.74	0.66	0.76	25	28	24
华谊嘉信	300071.SZ	9.00	0.20	0.22	0.24	45	42	38
粤传媒	002181.SZ	8.68	0.33	0.00	0.00	27	0	0
思美传媒	002712.SZ	114.20	0.84	1.28	2.01	136	89	57
北巴传媒	600386.SH	18.72	0.47	0.00	0.52	40	0	36
利欧股份	002131.SZ	19.25	0.48	0.31	0.55	40	62	35
明家科技	300242.SZ	36.30	0.05	0.21	0.67	726	171	55
龙韵股份	603729.SH	73.81	1.57	0.00	0.00	47	0	0
腾信股份	300392.SZ	28.36	1.72	0.36	0.54	16	78	52
科达股份	600986.SH	18.20	0.16	0.18	0.55	114	101	33
有线网络运营商	歌华有线	600037.SH	15.09	0.54	0.53	0.55	28	28	27
天威视讯	002238.SZ	17.41	0.54	0.48	0.60	32	36	29
广电网络	600831.SH	12.60	0.21	0.24	0.29	61	52	44
吉视传媒	601929.SH	4.18	0.28	0.00	0.14	15	0	29
电广传媒	000917.SZ	17.99	0.23	0.43	0.59	78	41	31
湖北广电	000665.SZ	15.40	0.51	0.67	0.75	30	23	21
东方明珠	600832.SH	23.18	0.37	0.00	0.00	63	0	0
IPTV/互联网电视	百视通	600637.SH	25.65	0.71	1.05	1.16	36	24	22
当代东方	000673.SZ	15.17	0.00	0.37	0.34	0	41	45
金亚科技	300028.SZ	20.00	0.10	0.00	0.00	200	0	0
华数传媒	000156.SZ	19.19	0.33	0.00	0.44	58	0	43
体 育	中体产业	600158.SH	18.66	0.12	0.12	0.20	153	152	93
雷曼光电	300162.SZ	23.84	0.19	0.14	0.21	125	174	114
强生控股	600662.SH	12.27	0.18	0.20	0.22	69	60	55
广弘控股	000529.SZ	8.92	0.26	0.00	0.00	34	0	0
国旅联合	600358.SH	13.50	-0.38	0.04	0.03	0	350	489
鸿博股份	002229.SZ	27.19	0.09	0.04	0.07	293	687	409

来源：中泰证券研究所
“Galaxy International Holdings”	China Galaxy International Financial Holdings Company Limited（中國銀河國際金融
控股有限公司）, owned as to 100% by the Company and a wholly-owned subsidiary
of the Company
“Galaxy Jinhui”	Galaxy Jinhui Securities Assets Management Co., Ltd.（ 銀河金匯證券資產管理有限
公司）, owned as to 100% by the Company and a wholly-owned subsidiary of the
Company
“Group”	the Company and its subsidiaries
“H Share(s)”	overseas listed foreign shares in the share capital of the Company with a nominal
value of RMB1.00 each, which is (are) listed on the Hong Kong Stock Exchange and
are subscribed for and traded in HK dollars
“HK$”or“HK dollars”	Hong Kong dollars, the lawful currency of Hong Kong
“Hong Kong”	the Hong Kong Special Administrative Region of the PRC
“Hong Kong Stock Exchange”	The Stock Exchange of Hong Kong Limited
“Huijin”	Central Huijin Investment Ltd.（中央滙金投資有限責任公司）, which held an equity
interest of 69.07% of Galaxy Financial Holdings
“IPO”	Initial Public Offering
“Stock Exchange Listing Rules”	the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange (as
amended from time to time)
“margin and securities refinancing”	a business in which securities firms can act as intermediaries to borrow funds or
securities from the China Securities Finance Co., Ltd. and lend such funds and
securities to their clients
“Model Code”	the Model Code for Securities Transactions by Directors of Listed Companies set out
in the Appendix 10 to the Stock Exchange Listing Rules
“New OTC Board”	National Equities Exchange and Quotations for medium and small-sized enterprises
“PRC”or“China”	the People’s Republic of China, and for the purposes of this report, excluding Hong
Kong, Macau Special Administrative Region and Taiwan region
“QDII”	Qualified Domestic Institutional Investor
“QFII”	Qualified Foreign Institutional Investor
“RMB”or“Renminbi”	Renminbi, the lawful currency of the PRC
“Reporting Period”	the period from 1 January 2018 to 31 December 2018
“RQFII”	Renminbi Qualified Foreign Institutional Investor, a pilot program launched in the PRC
which allows Hong Kong subsidiaries of PRC brokerage companies and fund houses
to facilitate investments of offshore Renminbi into the PRC capital markets
“SASAC”	the State-owned Assets Supervision and Administration Committee of the State
Council（ 國務院國有資產監督管理委員會）
“Securities Law”	the Securities Law of the People’s Republic of China
“SFC”	the Securities and Futures Commission of Hong Kong
“SFO”	the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as
amended, supplemented or otherwise modified from time to time
“Singapore dollars”	Singapore dollars, the lawful currency of Singapore
“SHCI”	the Shanghai Composite Index
“SSE”	the Shanghai Stock Exchange
“SSE Listing Rules”	the Rules Governing the Listing of Securities on the Shanghai Stock Exchange (as
amended from time to time)
“Supervisors”	supervisors of the Company
“Supervisory Committee”	the supervisory committee of the Company
“SZCI”	the Shenzhen Component Index
“SZSE”	the Shenzhen Stock Exchange
“US$”or“U.S. dollars”or“USD”	United States dollars, the lawful currency of the United States
“VaR”	value at risk

Notes:

1. In this report, any discrepancies between totals and sums of amounts listed are due to rounding.

2. This report is prepared in both Chinese and English languages and in the event of any inconsistency, the Chinese version shall prevail.
required (other than pursuant to Section 4.06(b)) to be paid as a result of such transaction, and any deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer or any of its Restricted Subsidiaries after such sale or other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction.

“New York Uniform Commercial Code ” means the Uniform Commercial Code as in effect from time to time in the State of New York.

“Note Guarantee” means a Guarantee of the Notes pursuant to this Indenture.

“Notes” has the meaning assigned to it in the preamble to this Indenture. The Initial Notes and the Additional Notes shall be treated as a single class for all purposes under this Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional Notes.

“Obligations” means any principal, interest, penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities (including all interest accruing after the commencement of any insolvency or liquidation proceeding, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding) under the documentation governing any Indebtedness.

“Of ering Memorandum” means the final offering memorandum, dated December 8, 2016, relating to the offering of the Notes.

“Of icer” means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Senior Vice President, any Vice President or any Assistant Vice President of such Person.

“Of icer’s Certificate” means a certificate signed on behalf of a Person by an Officer of such Person that meets the requirements of this Indenture.

“Opinion of Counsel” means an opinion from legal counsel (who may be counsel to or an employee of the Issuer), or other counsel who is reasonably acceptable to the Trustee, that meets the requirements of this Indenture.

“Participant” means, with respect to the Depositary, a Person who has an account with the Depositary (and, with respect to DTC, shall include Euroclear and Clearstream).

“Permitted Asset Swap” means any transfer of properties or assets by the Issuer or any of its Restricted Subsidiaries in which the consideration received by the transferor consists primarily of properties or assets to be used in a Similar Business; provided that the fair market value (determined in good faith by the Board of Directors of the Issuer if such amount is reasonably likely to exceed \$50.0 million) of properties or assets received by the Issuer or any such Restricted