Other costs of goods sold mainly comprise warehouse rentals, utility charges and other expenses related to production. Gross Profit Considering gross profit, for the year ended 31 December 2017 and 2018

762.6 (254.9) (33.4) Administrative expenses (84.7) (88.0) (3.3) (3.8) Finance costs (34.1) (26.3) 7.8 29.7 Profit before income tax 388.9 648.3 (259.4) (40.0) Tax income (expense) (28.6) (54.8) (26.2

years along with the coming expenses related in project launches expense, Transfer fees and taxes, which was in line with the increase of units sold resulting in higher income mentioned in operating

corresponding period last year. The decline was resulted from the rising costs in SG&A expenses with regard to the sponsorship fees payable to Chelsea Football Club Limited and one-off expenses incurred from the

. In light of this, we have decided to enter into the deed of variation in respect of rights and fees to the sponsorship agreement with Chelsea Football Club Limited. The amendments allow the Group to

2 28.6 63.5 -55.0% Costs of Sales and Services (1,120.0) (1,092.4) 2.5% Gross Profit 588.3 541.4 8.7% Gross Profit from Operation3 559.7 477.9 17.1% Other Income4 162.7 134.4 21.1% Administrative

Revenue2 26.8 1.4 1,883.2% - Power Business 1.4 0.0 N/A Costs of Sales and Services (276.0) (273.0) 1.1% Gross Profit 183.4 149.0 23.1% Gross Profit from Operation3 156.6 147.6 6.1% Other Income4 19.4 16.8

% (0.45) (33.95%) Total revenues 3,296.37 100.00% 3,406.32 100.00% 109.95 3.34% Distribution costs 131.70 4.00% 132.77 3.90% 1.07 0.81% Administrative expenses 90.56 2.75% 104.05 3.05% 13.50 14.91% Profit

the Company has new customers signed contract in 2018. Cost of services The Company’s cost of services consists of employees’ expenses, utilities, rental, depreciation and other costs directly related

salary, welfare, cost of depreciation, other managing fees, etc. which is in line with the increase of real estate development projects mentioned above. III Share of loss from investments in joint ventures