å¹´å ± - Li Ning

lining.com

å¹´å ± - Li Ning

KAPPA


32804-5: +852 3102 0926: +852 3102 0927Bank of Butterfield International(Cayman) Ltd.Butterfield House68 Fort StreetP. O. Box 705George TownGrand CaymanBritish West Indies 23312,00018346www.lining.comwww.irasia.com/listco/hk/lining


Li Ning AR05-02-013 • 04 C_Li Ning AR04_Milestones • 4th Proof • 11th April, 2005 • 060SNP VITE LIMITED • (852) 28778773 • 15TH MARCH, 2005 • SNP Vite •


6 734,935 958,005 1,276,224 1,878,102 65,201 103,347 119,109 191,443 59,090 95,955 114,563 192,264 49,620 66,889 93,960 133,439 91,607 86,489 89,523 102,819 397,511 484,144 678,255 1,378,612 324,232 337,760 362,877 454,206 73,279 146,384 315,378 924,406 489,118 570,633 767,778 1,481,431 164,886 232,873 404,901 1,027,225 148,689 215,578 389,032 1,010,017(%) 39.1 44.9 47.5 46.5 6.62 8.92 12.53 15.02 14.96 2.29 3.20 8.77 9.77(%)1 39.7 36.7 31.1 19.1 19.63 28.50 51.37 112.642 2.18 1.57 0.93 0.451. 100%2.


72,000,0001,878,102150,000133,4391,500,0001,276,224112,50093,9601,000,000734,935958,00575,00049,62066,889500,00037,00000 16.0015.02120112.6414.0012.0012.5310010.008.92808.006.626051.376.004.002.00402019.6328.5000 2001 2002 2003 20041,600,0001,481,4311,200,0001,400,0001,000,0001,010,0171,200,0001,000,000800,000800,000767,778600,000600,000489,118570,633400,000389,032400,000200,000200,000148,689215,57800 2001 2002 2003 2004


10559.11,878.147.2%42.0%133.4


12National Basketball Association (NBA)


161722,526120241 2,8873001421418410538 122 8 111175 8 164574 6 12 51 23 5 33109 10 24 3997 117 7 17 1171042 107411 68 17 1465 398 9 136962 13 16 24 1114510 11 196 13 21 44


17KAPPAKAPPAKAPPA


18 1,878,102 1,276,224 47.2 873,524 605,919 44.2 191,443 119,109 60.7 134,778 92,534 45.7 133,439 93,960 42.01 15.02 12.53 19.9(%) 46.5 47.5(%) 10.2 9.3(%) 7.1 7.4(%) 29.9 19.2(%) 19.1 31.1 0.45 0.932 112 1433 33 294 77 751. 133,439,00093,960,000888,392,000750,000,0002. 3653. 3654. 365


191,878,102,00047.2% (%) 562,889 30.0 443,811 34.8 26.8 1,083,130 57.7 658,649 51.6 64.4 232,083 12.3 173,764 13.6 33.6 1,878,102 100.0 1,276,224 100.0 47.264.4%33.6%26.8%


20 (%) 1,772,559 94.4 1,236,166 96.9 43.4KAPPA 105,543 5.6 40,058 3.1 163.5 1,878,102 100.0 1,276,224 100.0 47.243.4%KAPPA163.5% (%) 75.0 78.0 12.0 10.3 10.6 8.8 2.4 2.9 100.0 100.0


21 (%) 9.9 7.8 1 12.4 12.9 2 21.9 20.6 3 11.0 11.9 4 8.2 9.6 5 13.8 15.2 6 12.5 13.2 7 2.3 2.8 2.4 2.9 5.6 3.1 100.0 100.01. 2. 3. 4. 5. 6. 7.


221,004,578,000670,305,00046.5%1.0%43.7%47.5%48.7%545,985,000335,717,00029.1%26.3%168,658,000121,049,0009.5%9.0%39.3%47.2%15,163,00038,190,000 (%) (7,030) 46.4 14,894 39.0 (147.2) (5,201) 34.3 11,873 31.1 (143.8) (2,932) 19.3 11,423 29.9 (125.7) (15,163) 100.0 38,190 100.0 (139.7)


234,546,000821,000(i)(ii)(iii)57,486,00022,029,00029.9%19.2%133,439,00042.0%9.3%10.2%7.1%7.4%(i)(ii)(iii)10,228,00015,429,000


2410,020,00017,050,000(i)(ii)(iii)(iv)3002,526KAPPA11120241


25 2,272 1,722 31.9 117 87 34.5 233 176 32.4 2,622 1,985 32.1 254 144 76.4 3 3 0.0 8 13 (38.5) 265 160 65.6 2,526 1,866 35.4 120 90 33.3 241 189 27.5 2,887 2,145 34.674234.6%2,887200620


261431122943377752


27Tie1,027,225,000404,901,000115.6353.99134,417,00044.3%282,568,000143,080,000517,600,00075,718,000105,772,00038,625,0001,356,0004,369,000437,245,000322,568,000224,488,00040,000,00085,000,0001,010,017,000389,032,0004.0%21.8%


2866,212,00020,000,000273,038,000559,101,00032,818,00019,652,0004,870,0003,930,000


29National Basketball AssociationNBANBA Properties, Inc.NBA4,4023,13119016,219,00020045


3010.5%9.1%1,000


31100%


32Stuart Schonberger


33100%Stuart Schonberger


34www.lining.comwww.irasia.com/listco/hk/lining


3542231536104927AFEComputer Services LimitedStock Market ChannelInfocast Pty Limited


36472041Government of Singapore Investment Corporation Pte. Ltd.GIC SpecialInvestments Pte. Ltd.International FinanceCorporationUniversity CollegeUniversity of StrathclydeStuart SCHONBERGER 46SchonbergerCDH China Holdings Management Company LimitedCDHChina Holdings Management Company Limited CDH China Fund, L.P.CDHChina Fund, L.P.CDH China HoldingsManagement Company LimitedSchonbergerSchonbergerFirstNational Bank of ChicagoSchonbergerWesleyan UniversitySchonbergerGEM Services Inc.eBIS Company Limited58University of Kent


37484913Beijing Investment Consultants Inc.Maryland University College ParkUniversity of Lancaster472541


3833842123563810364210Leicester University RossBusiness School


3945University of Wisconsin36KAPPA635KAPPA439145443310


42KAPPA2.15273,038,000601084.574.301.001.0638


43555,780,00025 13.1 13.6 3.9 4.3 30.2 34.1 9.1 8.35%2375,00010,240,000


441324266732 Stuart Schonberger


4587Stuart Schonberger35373313839


4616,255,000Alpha Talent Management LimitedAlpha TalentAlpha Talent35,250,000Alpha TalentAlpha Talent10AlphaTalent


4728Alpha Talent25,230,000 9,750,000 9,750,000 0.43 40 30 30 2,700,000 2,700,000 0.86 50 50 750,000 750,000 0.86 50 50 12,030,000 (600,000) 11,430,000 0.86 50 50 25,230,000 (600,000) 24,630,000


481.827515%110 1,597,000 1,597,000 1.8275 33.3 33.3 33.4 1,287,000 1,287,000 1.8275 33.3 33.3 33.4 13,335,000 (578,000) 12,757,000 1.8275 33.3 33.3 33.4 16,219,000 (578,000) 15,641,000


49101(a)(b)(c)30%10%98,606,20098,606,200121%10


50XV352 405,424,000 39.63 25,230,000 2.47 Victory Mind Assets Limited Champion Link Capital LimitedAlpha Talent Management Limited405,424,000(a)(b)(c)220,174,00062.106%Victory Mind Assets LimitedVictory Mind Assets Limited220,174,000Victory Mind Assets Limited150,000,000Champion Link Capital LimitedChampion Link CapitalLimitedDragon City Management LimitedThree-River Unit TrustCititrust (Cayman) LimitedPalm Trust Gingko Trust60% 40% Palm Trust Gingko TrustPalmTrustChampion Link Capital Limited150,000,000Champion Link Capital LimitedDragon City ManagementLimited35,250,000Alpha Talent Management LimitedAlpha TalentManagement LimitedAlpha Talent Management Limited35,250,000Alpha Talent Management Limited


51Alpha Talent Management Limited35,250,00025,230,000Alpha Talent25,230,000Alpha Talent Management Limited25,230,000 15,047,000 1.47 15,047,0003,700,0009,750,0001,597,000 3,987,000 0.39 3,987,0002,700,0001,287,000


52 1 19,486,000 1.90 2 201. 15,926,0002,810,000750,0002. 20%49.1%


53XVXV783523365% 1 370,174,000 36.18 Victory Mind Assets 220,174,000 21.52Limited1(a) Champion Link Capital 150,000,000 14.66Limited1(b) Dragon City 150,000,000 14.66Management Limited 1(b)Cititrust (Cayman) 150,000,000 14.66Limited1(b) Tetrad Ventures Pte. 149,737,500 14.64Ltd.2


54 Government of Singapore 149,737,500 14.64Investment Corporation (Ventures) Pte. Ltd.2GIC Special Investments 149,737,500 14.64Pte. Ltd.2 Government of Singapore 149,737,500 14.64Investment Corporation Pte. Ltd.2Minister of Finance 149,737,500 14.64(Incorporated)2 JPMorgan Chase & Co. 48,686,000 4.76315,912,000 1.56 Fidelity International 61,466,000 6.01Limited


551. Victory Mind Assets LimitedChampion Link Capital Limited370,174,000(a)(b)220,174,000Victory Mind Assets LimitedVictory Mind Assets Limited37.894%62.106%150,000,000Champion Link Capital LimitedChampion Link Capital LimitedDragon City Management LimitedThree-River Unit TrustCititrust (Cayman) LimitedPalm TrustGingkoTrust60%40%Palm TrustGingko TrustGingko TrustChampion Link Capital Limited150,000,0002. 149,737,500Tetrad Ventures Pte. Ltd.Tetrad Ventures Pte. Ltd. Governmentof Singapore Investment Corporation (Ventures) Pte. Ltd.Government of SingaporeInvestment Corporation (Ventures) Pte. Ltd. Minister of Finance (Incorporated)Tetrad Ventures Pte. Ltd.Government of Singapore Investment Corporation Pte. Ltd.GIC Special Investments Pte. Ltd.Government of SingaporeInvestment Corporation Pte. Ltd. Minister of Finance (Incorporated)3. 15,912,000JPMorgan Chase & Co.4. 3361. 80%


562,640,0002. KAPPA70%30%KAPPA15,509,00014,000,00020,000,0003. 60%40%911,000


57(1) (2) (3) (1) (2) (3) (4) 3134


5960108


60 3 1,878,102 1,276,224 (1,004,578) (670,305) 873,524 605,919 4 17,399 8,146 (545,985) (335,717) (168,658) (121,049) 15,163 (38,190) 5 191,443 119,109 6 821 (4,546) 192,264 114,563 7 (57,486) (22,029) 134,778 92,534 27 (1,339) 1,426 133,439 93,960 8, 25 86,753 65,772 10 15.02 12.53 14.96


61 13 89,399 81,484 14 4,057 4,264 15 9,363 3,775102,819 89,523--------------------------------------- 17 318,326 296,239 18 217,574 120,059 19 81,424 37,469 66,212 20 372,508 20 322,568 224,4881,378,612 678,255--------------------------------------- 1,481,431 767,778 24 108,563 79,568 25 901,454 309,464 1,010,017 389,032--------------------------------------- 27 17,208 15,869--------------------------------------- 21 260,997 171,581 22 138,102 91,608 23 40,000 85,000 15,107 14,688 454,206 362,877--------------------------------------- 1,481,431 767,778


62 16 79,568 19 2,550 66,212 20 372,508 20 153,137594,407-------------------- 673,975 24 108,563 25 555,780 664,343-------------------- 22 9,632 673,975


63 389,032 215,578 25 133,439 93,960 25 (105,772) (23,970) 103,464 593,318 1,010,017 389,032


64 28(a) 191,484 112,192 (57,067) (19,018) 134,417 93,174--------------------------------------- (31,145) (22,282) (7,655) (2,847) 175 161 1,356 1,123 (371,277) (408,546) (23,845)--------------------------------------- 622,918 103,464 (29,600) 90,000 85,000 (135,000) (131,000) (66,212) (105,772) (24,247) (4,369) (5,710) 371,965 27,507--------------------------------------- 97,836 96,836 224,488 127,652 244 28(b) 322,568 224,488


653RealSports Pte Ltd.RealSports


67204021018312


682(d)2050(i)(ii)10


71(i)


72(ii)


73 10%


74 17,399 8,114 32 17,399 8,146 207 207 81 106 1,986 811 987,622 659,462 2,758 500 18,147 14,049 4,908 3,185 80,794 40,177 (7,030) 14,89412 178,580 124,599 (5,201) 11,873


755 4,369 5,710 (3,715) (1,123) (1,475) (41)(821) 4,546a 430 b 57,056 22,02957,486 22,029(a)(b)17.5%33%15%


7633% 192,264 114,56333% 63,447 37,806 (380) (42,121) (23,597) 36,828 23,939 (288) (16,119) 57,486 22,02916,305,00028,549,000RealSports25a 40,000 65,7724.574.30b 46,753 86,753 65,772


77(a)(b)RealSports4.574.308,543,000133,439,00093,960,000888,392,000750,000,000133,439,000891,696,000888,392,0003,304,00026


78 10,751 3,910 404 10611,155 4,016 243 243 11,641 4,016


79 1,060,0001,000,000 6 61,060,0001,000,0001,590,0001,500,000 11,590,0001,500,0002,120,0002,000,000 1 2,120,0002,000,0002,650,0002,500,000 2,650,0002,500,0003,180,0003,000,000 2 3,180,0003,000,0003,710,0003,500,000 1 10 7 4 4 1 15 5


80 959 669 47 261,006 695 1,060,0001,000,000 1 1(c)


81 133,605 92,404 3,861 1,754 16,255 9,276 24,859 21,165178,580 124,5994,4023,131


82 53,738 6,445 14,774 4,149 1,067 80,173 1,461 1,786 12,435 7,812 363 23,8572 (1,395) (371) (1,580) (3,346) 1,430 (1,430) 1,315 (1,315) (5,151) (5,151) (3,814) (667) (2,794) (6,774) (14,049) 47,584 7,193 21,520 5,187 81,484 70,873 11,442 38,883 11,961 133,159 (23,289) (4,249) (17,363) (6,774) (51,675)--------------------------------------------------------------------------------------- 47,584 7,193 21,520 5,187 81,484 47,584 7,193 21,520 5,187 81,484 600 998 14,454 11,574 3,519 31,145 (2,715) (265) (2,103) (5,083) 3,369 (3,369) (2,812) (1,996) (7,111) (6,228) (18,147) 42,657 5,930 30,129 10,533 150 89,399 68,759 9,527 43,339 23,535 150 145,310 (26,102) (3,597) (13,210) (13,002) (55,911)--------------------------------------------------------------------------------------- 42,657 5,930 30,129 10,533 150 89,3992050


83 4,471 (207) 4,264 5,390 (1,126) 4,264 4,264 (207) 4,057 5,390 (1,333) 4,057


84 599 1,246 1,845 887 1,960 2,847 (106) (811) (917) 1,380 2,395 3,775---------------------------------------------------------- 1,526 4,566 6,092 (146) (2,171) (2,317) 1,380 2,395 3,775 1,380 2,395 3,775 7,655 7,655 (81) (1,986) (2,067) 1,299 8,064 9,363---------------------------------------------------------- 1,526 12,221 13,747 (227) (4,157) (4,384) 1,299 8,064 9,363


85 79,56832 21,884 21,064 707 3,418 305,963 287,186328,554 311,668 (10,228) (15,429)318,326 296,23946,300,00034,619,0005,201,000


86 227,594 137,109 (10,020) (17,050)217,574 120,0591,738,0002,894,00031(b)7,030,00060 30 154,318 83,7673160 34,946 24,8326190 13,847 8,56891180 12,942 7,621181365 3,705 7,101365 7,836 5,220227,594 137,109


87 24,905 10,765 21,589 7,682 14,924 8,307 20,006 10,715 2,55081,424 37,469 2,550 322,568 224,488 153,137 372,508 372,508695,076 224,488 525,6452.01%258


88 162,207 147,536 328,333 326,817 204,536 76,952 198,828695,076 224,488 525,6453060 30 189,984 163,7643160 66,855 1,4556190 2,695 5,69291180 873 611181365 341 49365 249 10260,997 171,581


89 14,244 16,533 1,662 23,534 20,284 35,382 21,572 29,578 22,339 31(b) 1,840 520 33,524 10,360 7,970138,102 91,608 9,632 20,000 20,000 85,00040,000 85,00020,000,0004.6%5.31%


900.10 3,800,000 380 9,996,200,000 999,620 10,000,000,000 1,000,000 100 RealSports 749,999,900 75,000 273,038,000 27,304 1,023,038,000 102,304 108,563(a)380,0003,800,0000.100.100.10(b)9,996,200,0000.101,000,000,000(c)RealSports749,999,9000.10(a)100


91(d)2.15236,062,0000.102.1536,976,0000.10 a(i) 61,732 37,479 14,885 101,476 215,572a(ii) 23,902 23,902 93,960 93,960 4,897 2,449 (7,346) (23,970) (23,970) 85,634 42,376 17,334 164,120 309,464 85,634 42,376 17,334 164,120 309,464 564,323 564,323 133,439 133,439 5,027 92 (5,119) (65,772) (65,772)a(iii) (40,000) (40,000) 564,323 45,634 47,403 17,426 226,668 901,454


92 564,323 564,323 (8,543) (8,543) 564,323 (8,543) 555,780(i)61,732,000(ii)(aa) RealSports153,122,000RealSports49,660,0006,000,000(bb) RealSports79,560,000(iii)RealSports65,772,000RealSports40,000,000RealSports


93(i)10%50%25%(ii)5%10%555,780,000


9435,250,000Alpha Talent Management LimitedAlphaTalentAlpha TalentAlpha Talent10Alpha Talent


95 9,750,000 9,750,000 0.43 40 30 30 2,700,000 2,700,000 0.86 50 50 750,000 750,000 0.86 50 50 12,030,000 (600,000) 11,430,000 0.86 50 50 25,230,000 (600,000) 24,630,000


961 1,597,000 1,597,000 1.8275 33.3 33.3 33.4 1,287,000 1,287,000 1.8275 33.3 33.3 33.4 13,335,000 (578,000) 12,757,000 1.8275 33.3 33.3 33.4 16,219,000 (578,000) 15,641,000


97101(a)(b)(c)30%1%10


98 15,869 17,295 1,339 (1,426) 17,208 15,869


99 192,264 114,563 18,147 14,049 2,274 1,124 5,151 (7,030) 14,894 (5,201) 11,873 4,908 3,185 (3,715) (1,123) 4,369 5,710 (1,475) (41) 204,541 169,385 (16,886) (79,287) (90,485) (51,922) (41,596) 7,208 89,416 43,655 46,494 23,153 191,484 112,192 322,568 224,488


100 66,934 34,727 109,829 62,758176,763 97,485 150,000


101111 15,509 10,656 911 1,59916,420 12,255 2,640 2,350


102 320Li Ning Sport Goods (HK) Co.,Ltd. 200 1,840 1,840 520 1,738 2,894


103 RealSports Pte Ltd. 1,000 100% 1 100% Li Ning Sports (Hong Kong) 100 100% Co., Ltd. 8,000,000 100% 50,000,000 100% 800,000 80%


104 3,000,000 100% 2,000,000 100% 3,000,000 100% 3,000,000 100% 1,000,000 100% 8,240,000 80%


105 10,000,000 100% 2,750,000 100% 1,200,000 100% 1,000,000 100% 500,000 100% 1,000,000 100%


106 1,000,000 100% 1,000,000 100% 1,000,000 100% 5,000,000 100% 1,000,000 100% 5,000,000 100%


107 3,500,000 100% 1,000,000 100% (i)(ii)23


108(iii) 924,406 315,378 584,775 1,027,225 404,901 664,343

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