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神州长城(000018)公告正文

神州B:2015年年度报告(英文版)(已取消)

公告日期:2016-04-15

Sino Great Wall Co., Ltd.                               2015 Annual Report




                            Sino Great Wall Co., Ltd.
                              2015 Annual Report




                                   April 2016




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Sino Great Wall Co., Ltd.                                                                     2015 Annual Report




                     I. Important Notice, Table of Contents and Definitions

The Board of Directors and the directors, Supervisory Committee and supervisors and Senior Executives of the
Company hereby warrant that at the year , there are no misstatement, misleading representation or important
omissions in this report and shall assume joint and several liability for the authenticity, accuracy and completeness
of the contents hereof.


     Mr.Chen Lue , The Company leader, Mr. Cui Hongli, Chief financial officer and the Mr. Cui Hongli, the
person in charge of the accounting department (the person in charge of the accounting )hereby confirm the
authenticity and completeness of the financial report enclosed in this annual report.


All the directors attended the board meeting for reviewing the Annual Report.


There are detailed descriptions in the annual report about the possible risks may faced, but due to the influence of
various factors, there may be some differences between the specific situations and the descriptions, furthermore,
the company’s description on the company’s future development strategy does not constitute the solid
commitment to the investors, so please be aware of the investment risks.


The profit distribution proposal reviewed and approved by the boarding meeting was summarized as follows:
446,906,582 for the base, the Company would distribute cash dividend to all the shareholders at the rate of CNY0
for every 10 shares (with tax inclusive) , 0 bonus shares(including tax),The Company will transfer the capital
reserve to increase capital stock, 28 shares for every 10 shares.




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Sino Great Wall Co., Ltd.                                                2015 Annual Report




                                         Table of Contents




I.Important Notice, Table of contents and Definitions

II. Basic Information of the Company and Financial index

III. Outline of Company Business

IV. Management’s Discussion and Analysis

V. Important Events

VI. Change of share capital and shareholding of Principal Shareholders

VII. Situation of the Preferred Shares

VIII. Information about Directors, Supervisors and Senior Executives

IX. Administrative structure

X. Financial Report




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Sino Great Wall Co., Ltd.                                                                           2015 Annual Report



                                                Definition


                                       Refers
              Terms to be defined                                              Definition
                                         to

                                       Refers
Company Law                                     Company Law of the People’s Republic of China
                                         to

                                       Refers
Securities Law                                  Securities Law of the People’s Republic of China
                                         to

                                       Refers
“CSRC”                                        China Securities Regulatory Commission
                                         to

                                       Refers
Company,The Company, Sino Great Wall            Sino Great Wall Co., Ltd.
                                         to

                                       Refers
Sino International                              Sino Great Wall International Engineering Co., Ltd.
                                         to

                                       Refers
BDO                                             BDO China Shu Lun Pan Certified Public Accountants LLP
                                         to

                                       Refers
SZSE                                            Shenzhen Stock Exchange
                                         to

                                       Refers
Reporting period                                January 1, 2015 to December 31, 2015
                                         to

                                       Refers
Yatian Decoration                               Shenzhen Yatian Decoration Design Engineering Co., Ltd.
                                         to

                                       Refers
Union Development                               Union Development Group Co., Ltd.
                                         to

                                       Refers
Union Holdings                                  Union Holdings Co., Ltd.
                                         to

                                       Refers
Rich Crown Investment                           Rich Crown Investment Co., Ltd.
                                         to




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Sino Great Wall Co., Ltd.                                                                                 2015 Annual Report



                            II. Basic Information of the Company and Financial index
I.Company Information

                                                                                                     000018
Stock abbreviation:             Sino Great Wall      Sino-B              Stock code:
                                                                                                     200018

Stock exchange for listing      Shenzhen Stock Exchange

Name in Chinese                 神州长城股份有限公司

Chinese Abbreviation            神州长城     神州 B

English name (If any)           Sino Great Wall Co., Ltd.

English Abbreviation (If any) Sino Great Wall        Sino-B

Legal Representative            Chen Lue

Registered address              26 Kuipeng Road, Kuiyong Town, Longgang District, Shenzhen

Postal code of the Registered
                                518119
Address

Office Address                  Sino Great Wall Building, No.3 Jinxiu Street,Economic Technology Development Zone , Beijing

Postal code of the office
                                100176
address

Internet Web Site               www.sgwde.com

E-mail                          000018sz@sina.com

II. Contact person and contact manner
                                                            Board secretary                  Securities affairs Representative

Name                                        Yang Chunling                               Liu Guofa

                                            Sino Great Wall Building, No.3 Jinxiu       Sino Great Wall Building, No.3 Jinxiu
Contact address                             Street,Economic Technology Development Street,Economic Technology Development
                                            Zone , Beijing                              Zone , Beijing

Tel                                         010-89045855                                010-89045855

Fax                                         010-89045856                                010-89045856

E-mail                                      1208806865@qq.com                           000018sz@sina.com


III. Information disclosure and placed


Newspapers selected by the Company for information
                                                       Securities Times and Hongkong Commercial Daily.
disclosure

Internet website designated by CSRC for publishing
                                                       http: // www.cninfo. com. cn
the Annual report of the Company

The place where the Annual report is prepared and      Secutities Department , Sino Great Wall Building, No.3 Jinxiu
placed                                                 Street,Economic Technology Development Zone , Beijing


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Sino Great Wall Co., Ltd.                                                                                   2015 Annual Report


IV.Changes in Registration


Organization Code                           91440300618801483A

                                            On October 13, 2015, the company held the 26th board meeting of the sixth session
                                            board of directors, at which the Proposal on Alteration of the Company’s Business
                                            Scope was examined and approved. In the light of the major asset restructuring
                                            conducted by the company, the main business of the company shall be significantly
                                            changed. In order to meet the company’s development requirements, the company
                                            planned to change the company’s business scope to “Engineering design and
                                            construction, infrastructure investment, new energy construction and investment,
                                            medical    investment,   life   technology   research   and   development,    equipment
Changes in principal business activities
                                            manufacturing, defense equipment, financial investment and real estate development
since listing (if any)
                                            (Finally, the business scope shall be the business scope approved by the Administration
                                            for Industry and Commerce) from the original business scope of “Production and
                                            operation of the textile industry products and its required raw materials, accessories,
                                            machinery and equipment, all kinds of fabrics and clothing and providing related
                                            services(Do not contain the products included in the existing license management, if
                                            has a license, then it will execute by the license). The Proposal on Alteration of the
                                            Company’s Business Scope was examined and approved in the 2015 second
                                            extraordinary general shareholder meeting which was convened on October 29, 2015,

                                            On October 14, 2015, the company completed the share-issuing of a total of

                                            251,849,593 shares issued to 17 transaction objects such as Chen Lue for purchasing

                                            related assets, of which the issuing price is RMB 9.84 per share. Of which Chen Lue

                                            Holdings held 138,340,890 shares, taking for 32.86% of the company’s share capital,

                                            The Largest shareholder of the company was changed to Mr. Chen Lue form Union

                                            Holdings Co., Ltd.   And the actual controller of the Compnay was changed to Mr.
Changes is the controlling shareholder in
                                            Chen Lue    from Union Developemnt Co., Ltd.
the past (is any)
                                            On Nov 27, 2015, the company completed the non-public share-issuing to purchase the
                                            assets and raise the matching funds. The total share quantity of the non-public
                                            share-issuing for raising funds is 25,914,633 shares, with issuing price of RMB 9.84
                                            per share, of which Chen Lue subscribed 14,735,772 shares of the newly increasing
                                            shares. After completing the non-public share-issuing, the company’s total share capital
                                            shall be changed to 446,906,582 shares, of which Mr. Chen Lue holds 153,076,662
                                            shares, taking for 34.25% of the company’s total share capital, remained as the
                                            company’s actual controlling shareholder and the actual controller.


V. Other Relevant Information

CPAs engaged

Name of the CPAs                     BDO China Shu Lun Pan Certified Public Accountants LLP

Office address:                     10/F of the No.7 Building, No16 Yard, Mid of West 4th Ring Road, Haidian DDistrict, Beijing


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Sino Great Wall Co., Ltd.                                                                                      2015 Annual Report


Names of the Certified Public
                                       Liao Jiahe, Xu Shibao
Accountants as the signatories

The sponsor performing persist ant supervision duties engaged by the Company in the reporting period.
√Applicable □Not applicable
         Sponsor name                          Office address                   Representatives       Period of supervision and guide

                                    6/F,A Unit, Fengming
Huatai United Securities Co.,       International Building, No.22,     Jia Chunhao, Mao Dawei, Wu     September 27, 2015 to
Ltd.                                Fengsheng Hutong, Xicheng           Wenmin                        December 31,2018
                                    District, Beijing

The Financial advisor performing persist ant supervision duties engaged by the Company in the reporting period
√ Applicable □Not applicable

         Advisor Name                          Office address                   Representatives       Period of supervision and guide

                                    6/F,A Unit, Fengming
Huatai United Securities Co.,       International Building, No.22,     Jia Chunhao, Mao Dawei, Wu     September 27, 2015 to
Ltd.                                Fengsheng Hutong, Xicheng           Wenmin                        December 31,2018
                                    District, Beijing


VI.Summary of Accounting data and Financial index

May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to
change of the accounting policy and correction of accounting errors.
□Yes √No
                                                                                           Changed over last
                                                  2015                   2014                                             2013
                                                                                              year(%)

 Operating Gross income(RMB) 4,010,358,999.58                 2,754,684,893.91          45.58%                 2,035,212,861.16

 Net profit attributable to the
 shareholders of the listed             346,648,651.48          186,857,504.45            85.51%                 103,518,058.00
 company(RMB)

 Net profit after deducting of
 non-recurring gain/loss
                                        347,196,614.68          183,801,389.95            88.90%                 101,026,921.20
 attributable to the shareholders
 of listed company(RMB)

 Cash flow generated by business
                                        -292,051,257.08         163,847,389.34            -278.25%               -182,151,177.61
 operation, net(RMB)

 Basic earning per
                                        1.50                    0.74                      102.70%                0.6120
 share(RMB/Share)

 Diluted gains per
                                        1.50                    0.74                      102.70%                0.6120
 share(RMB/Share)(RMB/Share)

 Net asset earning ratio(%)           34.52%                  24.54%                    9.98%                  17.46%



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Sino Great Wall Co., Ltd.                                                                                 2015 Annual Report


                                                                    End of            Changed over last
                                           End of 2015                                                           End of 2013
                                                                     2014               year(%)

 Gross assets(RMB)                   4,017,462,824.63       2,447,572,750.57       64.14%                   1,675,076,620.29

 Net assets attributable to
 shareholders of the listed            1,282,256,738.74       761,471,188.44         68.39%                   593,026,818.30
 company(RMB)


Ⅶ.The differences between domestic and international accounting standards

1.Simultaneously pursuant to both Chinese accounting standards and international accounting standards
disclosed in the financial reports of differences in net income and net assets.

□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS
(International Accounting Standards) or Chinese GAAP(Generally Accepted Accounting Principles) in the period.

2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards.

□ Applicable √Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign
accounting rules or Chinese GAAP(Generally Accepted Accounting Principles) in the period.

Ⅷ.Main Financial Index by Quarters

                                                                                                                           In RMB

                                           First quarter        Second quarter          Third quarter            Fourth quarter

Operating income                             825,262,582.68       1,255,946,636.48        835,406,170.68          1,093,743,609.74

Net profit attributable to the
                                              47,877,449.11         117,464,892.01            77,186,010.32         104,120,300.04
shareholders of the listed company

Net profit after deducting of
non-recurring gain/loss attributable
                                              47,519,957.09         117,483,194.26            77,869,941.81         104,323,521.52
to the shareholders of listed
company

Net Cash flow generated by
                                            -116,108,845.35        -127,687,027.48         -83,783,608.09            35,528,223.84
business operation



Whether significant variances exist between the above financial index or the index with its sum and the financial
index of the quarterly report as well as semi-annual report index disclosed by the Company.
□ Yes    √No



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Sino Great Wall Co., Ltd.                                                                      2015 Annual Report


Ⅸ.Items and amount of non-current gains and losses

√Applicable □Not applicable
                                                                                                                 In RMB

                         Items                          Amount (2015)      Amount (2014)      Amount (2013)

 Non-current asset disposal gain/loss(including the
 write-off part for which assets impairment                   -81,112.15        -137,889.40
 provision is made)

 Govemment subsidy recognized in currentgain
 and loss(excluding those closely related to the
                                                             342,246.00
 Company’s business and granted under the state’s
 policies)

 Capital occupation fees charged by non financial
                                                                               5,214,416.45       3,232,123.00
 enterprises in the current profits and losses

 Except the effective hedge business related to the
 normal operation business of the Company, the
 profit and loss in the changes of fair values
 caused by the holding of tradable financial assets
                                                                                  60,407.78
 and tradable financial liabilities as well as the
 investment returns in disposal of tradable
 financial assets, tradable financial liabilities and
 saleable financial assets

 Other non-operating income and expenditure
                                                             -905,796.34      -1,062,500.49          89,392.74
 except for the aforementioned items

 Less: Amount of influence of income tax                      -96,699.29       1,018,319.84        830,378.94

 Total                                                       -547,963.20       3,056,114.50       2,491,136.80            --



For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable     √ Not applicable
None of Non-recurring gain /loss items recorgnized as recurring gain /loss/itesm as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.




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Sino Great Wall Co., Ltd.                                                                     2015 Annual Report




                                  III. Outline of Company Business



Ⅰ.Main Business the Company is Engaged in During the Report Period

In 2015,The company has completed great asset replacement, purchased by issuing shares and raising supporting
funds in the year, the total assets company has owned and liabilities company has made were exchanged with
equivalent assets that all shareholders hold in Sino Great Wall International Engineering Co., Ltd., and differential
sections were purchased by my company ,issuing shares for all shareholders hold in Sino Great Wall International
Engineering Co., Ltd.,meanwhile, company has distributed supporting funds,255 million Yuan used for raising
and restructuring shares, to Chen Lue and Hui tong 2.Since the major assets restructuring was accomplished, our
primary services has shifted from previous producing and processing of textile into Engineering general
contracting(overseas),decoration, mechanical and electrical installation, curtain wall design and construction,
Investment and construction of hospital health industry, etc.
  Domestic business in 2015 : Company’s building decoration business maintained steady growth and
company’s market standing in Domestic construction projects has been further promoted. Since domestic
revenues accounted for 60 % of company's business income in 2015, it is still the main source of revenue: at the
same time, the year of 2015 is the company's first year of strategic layout of medical business as well. Despite the
fact that no income has been gained from medical business, works on different levels are carried out in a smooth
way, and company has signed a cooperation agreement with Sichuan Jiale Enterprise Group, Beijing Anjie Asset
Management Co., Ltd, Sinopharm Finance Lease Co., Ltd successively, and Launched extensive cooperation in
fields like acquisition or construction of hospital projects, medical engineering contracting, health-care investment
and financial leasing to provide a guarantee for promoting the rapid development of the company's medical
business. Although the medical business still hasn’t formed income, all the works have been progressing smoothly,
which has provided the foundation of the fast development of the company’s medical business.Talented
personnel recruited from overseas personnel market formation for many years, diverse marketing channels and
understanding construction capability have made the company's overseas spread throughout the Middle East,
Southeast Asia and Africa. Moreover, large-scale projects are widely in construction or under construction in
countries and regions like Qatar, Kuwait, Indonesia, Sri Lanka, Burma, Cambodia, and Algeria. In the above areas,
the company has accumulated and created a good market reputation and corporate image, laying a good
foundation for the company to win more project orders and further expand their business to other countries and
regions. An extensive step to increase building and construction industry and health care industry would be
conducted in future, promoting the sustained and rapid growth of the company.

II.Industry development and outlook of the company
In 2015, the global economic situation still was perplexing and complicated and the world economic growth was
low, yet China has been entered into the new normal of adjusting industrial structure, stabling the growth and
transformation and upgrading of the industries. The domestic architectural decoration industry was affected by the
weak real estate market, resulted in a low growth; the company relying on the initiative advantage, brand
influences and good business development ability has formed three core business segments of the Middle East,
Southeast Asia and Africa, remained in a comparatively fast growth momentum. In the future, along with steady

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Sino Great Wall Co., Ltd.                                                                                     2015 Annual Report


growth of the Chinese economic and the speeding up of the urbanization of China and the increasing escalation of
the consumption level of residents, the architectural decoration market such as in the transportation, culture, sports,
medical and health facilities and new hotel construction will keep growing at a certain pace. As to the overseas
market, along with the implementation and deepening of the national strategy of “One Belt, One Road” which
brings a new round of growth opportunities, by virtue of the construction implemented of the contracted projects
by the company, the accumulation and the establishment of good market reputation and image of the company, the
company’s overseas business will keep in a comparatively fast growth and the company’s business scale and
market share will continuously be increased.
   Health-care industry: according to spirit of normative documents, Guidance on the Pilot Reform of Public
Hospitals and Opinions of Further Encouraging and Guiding the Social Capital to Hold Medical Institutions
released successively by five ministries including ministry of health, the company combined it with the status quo
of the medical and health industry in China, on the basis of full investigation, com firmed strategic direction of
development in future and actively carried out medical industry layout in 2015. for the acquisition of the company,
the existing hospitals, hospital, a new construction of medical and health projects all the input and take direct
investment, industry fund operation mode initiated and Realization of medical industry, landing, and strive to
build the company into a building and medical services and drive the development of a group of outstanding
enterprises.
      By 2015,Sino Great Wall International Engineering Co., Ltd, a wholly-owned subsidiary of the company,
ranked eighth in China's 100 top building decoration enterprises, and the project "Convention Center in Gansu
five-star hotel complex project", which it participated in, won China's construction Engineering Luban Awards
during 2014 to 2015.

 Ⅱ.Major Changes in Main Assets


1. Major Changes in Main Assets


Main assets                                    Major changes


                                               The main reason is the Ministry of Finance of Kuwait , Cambodia Howley and NAGA cr
Fixed assets
                                               ane and other equipment procurement project.
                                               Kuwait Ministry of Defence procurement is mainly due to crane and other equipment is n
Construction in process
                                               ot installed


2. Main Conditions of Overseas Assets

√ Applicable □ Not applicable

                                                                                Control                      Foreign
                                                                                                                           Whether exist
                                                                              measure to                      assets
  Content of     Reason for                                     Operation                     Income(RMB                    significant
                                  Asset size       Location                    ensure the                  accounted for
    assets      the formation                                      mode                           )                         impairment
                                                                              secutity of                  net assets of
                                                                                                                               risk
                                                                                 assets                    the Company

                The overseas 19,349,597.7           Kuwait,
 Fixed assets                                                                                                     1.54%         No
                purchase of 2                    Kampuchea,



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Sino Great Wall Co., Ltd.                                                                   2015 Annual Report


                   the tower                   Qatar,
                   crane, car                  Algeria

                  The crane is
Construction
                  not installed 5,038,257.45   Kuwait,                                         0.39%      No
     in process
                   overseas


Ⅲ.Analysis On core Competitiveness

 After the completion of the reorganization of the company, Sino Great Wall Co., Ltd is a national leader in
integrated architectural engineering contractors, and boasts top comprehensive strength and competitiveness
among the nation's public building decoration industry. In recent years, with the increasing efforts of expanding
overseas marketing, and the number and scale of overseas projects continually improved, overseas business
increased sharply.
1.           Service advantages of integration
  The company has three national first-level qualifications, national building decoration, engineering design and
construction, specialized contracting of Mechanical and electrical equipment installation projects and specialized
contracting of the construction curtain wall projects ,and Foreign Project Contracting and Operation.
Self-contained design and sound execution conditions help Sino Great Wall Co., Ltd provide customers with
decorative, mechanical and electrical installation and whole industry chain of curtain, integrated services of
construction and design. The company can independently complete a full implementation of the construction
project without the need for specialized subcontractors, as it owns civil engineering, electrolytic skills, refined
decoration, experience of curtain wall construction and construction team. In this way, advantages can be formed
together in the field of construction engineering; we can rationalize arrangement of project procurement,
employment and construction plans, and optimize project schedule, effectively shorten the construction period,
reducing the overall cost of the project, to maximize project benefits.
 2.          Preemptive advantages and brand effect of overseas business
   Judging from the international and domestic economic situations and the construction market, the company
assessed the situation ahead of others and made the layout of the overseas market, to form marketing team for
overseas construction business in advance, cultivate abilities of project management training and business
negotiation, and accumulate experience in the construction project. Familiar with the political and economic
environment in overseas markets, the construction market environment and labor market and labor regulations, the
company can make reasonable estimates about construction projects, effectively control construction projects and
win customers' acceptance by offering the engineering of perfect quality. With winning the bid and completion of
local landmarks, the company's visibility and influence in countries of the Middle East, Southeast Asia has been
increasing promoted establishing a good corporate image and brand image.
 3.       Advantages of talented personnel
     Talent competition is the core part of enterprise competition, as talents are the most valuable asset of
enterprises. In order to ensure the stability of the company's personnel, various effective measures has be carried
out, including continuing to introduce talents, mobilizing and inspiring the enthusiasm and creativity of employees
work, sharing incentives for business growth with employees, and giving part of the company directors,
supervisors and senior management personnel and business backbones the privileged rights to purchase
non-public shares. In this way, listed companies and employees share a mutual benefits, and their subjective
initiative would be inspired, promoting the company's rapid development of overseas and domestic business The


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Company’s core business management team, experienced in operating and skillfully marketing, is of high quality
and capability, like management capability, leaving good support for development of the company in future.




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                                  IV. Management’s Discussion and Analysis



Ⅰ.General


 1. Overall overview of business condition
Obstacles and difficulties were still in the way of global economic recovery in 2015, despite of the economy of
US showing signs of improvement. The entire international economic environment is still fragile and on sluggish
growth. To enhance China's economic growth momentum and strengthen supply-side structural reforms,
domestic fixed asset investment has been decelerated, and real estate faced greater pressure of d-stocking. Under
the new normal, domestic architectural decoration industry underwent slower growth rate than that of previous
years. also bringing great pressure for the company’s operation and management.However, with the
advancement and implementation of the "one belt, one road" strategy, overseas construction decoration market
still have dynamic growth potential. With the introduction of national health reform policy, the health care
industry is also facing greater development opportunities.
   Operating with international and domestic economic situation, the company developed a business plan
"consolidating of the domestic decoration main industry, expanding overseas construction market, ensuring steady
growth of the performance". With a clearly scientific development strategy and the unremitting efforts of all staff,
the company's overall asset quality and profitability were significantly improved. In 2015, although domestic
economic suffered a slow growth, the company has maintained good growth momentum with a good performance
of the company's overseas business. In 2015, the company achieved operating income of 4.01 billion Yuan, an
increase of 45.58 % over the previous year; operating profit of 431 million Yuan, an increase of 75.22% over the
previous year; net profit attributable to parent company 347 million Yuan, an increase over the previous year
85.51%.

2.     Main works carried out by the company in 2015 are as follow:
  (1)        Maintaining stability in domestic decoration business
   During the reporting period, the company will further consolidate the traditional decoration business market,
promote the company's well-known brands and the implementation of characteristic operating strategy, and spare
great efforts to develop and nurture high-end customers, making a steady increase of high-end customers in the
company's share of the domestic business and continuing to improve brand influence Sino Great Wall. Moreover,
we would also provide customers with comprehensive solutions, including high-quality and efficient architectural
decoration, mechanical and electrical installation, curtain wall design and construction, and meanwhile actively
explore relevant qualifications and industrial chain in innovative business model, improving the company
decoration, engineering construction, creating a new performance and profit growth and constantly improving the
company's profitability.
  (2)        Achieving good results in expanding overseas market business
        In 2015,under the leadership of national policy "One Belt and One Road", relying on it's a good reputation
in the overseas company and rich experience in marketing and construction, the company's overseas business
grew rapidly in Myanmar, Indonesia, the Philippines, Sri Lanka and other places ,with new orders for large
projects signed equivalent value of more than billion. Overseas projects are likely to use more the contracting
management models, EPC and PPP, providing a strong guarantee for the company's performance in next few


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Sino Great Wall Co., Ltd.                                                                          2015 Annual Report


years.
(3)     Gaining a initial success of medical health industry layout and working smoothly
        In 2015, the company decided to regard health care as key direction of the company in future. Afterward,
the company introduced the management authority and technical experts in the medical field, in conjunction with
the company's senior personnel, to set up a new medical team and carry out the in-depth project study and
research in nationwide. Moreover, they carefully organized project feasibility and screening and have deep
contacts with the target project, and signed a cooperation agreement to conduct a joint medical investment
business with Sichuan Jiale enterprise Group Co., Ltd. Andrzej asset management Limited and Sinopharm Group
financial leasing Co., Ltd, giving full play to their respective advantages in terms of construction, finance,
customer resources, brand, etc. and promoting the development of the company in the medical engineering
contracting, health care investment business. Since the medical team was built, company medical business is
progressing well and the layout of the medical industry enjoyed a initial success.
   (4)        Laying emphasis on incentives to storing talents for the company
 During the reporting period, the company completed the election of the new Supervisory Board; a new senior
management team was appointed; dozens of talents in marketing, technology, management and health care
industries were recruited; three boards and one level, namely shareholders' board, board of directors, board of
supervisors, governance level, has a clear structure. In 2015, parts of the company directors, supervisors and
senior management personnel and business backbones participated in the subscription of the company's
non-public offering of stocks by the customer-specific asset management plans set by Jiu Tai Hui Tong number
two, and some of the staffs were involved in the first phase of the company's plan of employee's stock ownership.
All measures above are conducive to the formation of mechanism where employees and all shareholders share
mutual benefits and risks, urging executives and core team of the company to work in a more diligent way for
company's development and laying a solid talent base development of the company in future.

Ⅱ.Main business analysis

1. General

Refer to relevant contents of “1.Summarization” in “Discussion and Analysis of Management”.

2. Revenue and cost

(1)Component of Business Income

                                                                                                                 In RMB

                                          2015                                 2014
                                                                                                       Increase /decrease
                              Amount             Proportion        Amount             Proportion

Total business
                            4,010,358,999.58              100%   2,754,684,893.91              100%               45.58%
income

Industry

Decoration works            2,455,199,964.42            61.22%   2,557,064,400.00            92.82%                -3.98%

Engineering design            19,919,636.46              0.50%     21,436,293.91              0.78%                -7.08%



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Sino Great Wall Co., Ltd.                                                                                    2015 Annual Report


EPC                         1,513,458,850.56             37.74%           176,184,200.00                 6.40%               759.02%

Other                         21,780,548.14               0.54%

Product

                            4,010,358,999.58             100.00%       2,754,684,893.91               100.00%                100.00%

Area

        Domestic            2,436,352,972.25              60.75%       2,578,500,693.91                92.59%                  -4.48%

        Overseas            1,574,006,027.33              39.25%          176,184,200.00                 6.40%               671.16%




 (2)Situation of Industry, Product and District Occupying the Company’s Business Income and Operating
Profit with Profit over 10%
√ Applicable □Not applicable
                                                                                                                            In RMB

                                                                             Increase/decrease Increase/decrease Increase/decrease
                                                                             of revenue in the   of business cost     of gross profit
                                                           Gross profit
                        Turnover        Operation cost                        same period of      over the same     rate over the same
                                                             rate(%)
                                                                               the previous          period of        period of the
                                                                                 year(%)         previous year (%) previous year (%)

Industry

Decoration works 2,455,199,964.42 1,959,709,623.80                 20.18%              -3.98%              -6.05%               9.54%

EPC                 1,513,458,850.56 1,194,713,739.79              21.06%            641.49%             686.94%             -17.79%

Product

Area

    Domestic       1,574,006,027.33 1,194,713,739.79               24.10%            671.16%             686.94%               -5.94%

     Overseas      2,436,352,972.25 1,970,313,445.87               19.13%              -4.48%              -6.08%               7.77%




Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main
business based on latest on year’s scope of period-end.
□ Applicable √Not applicable

(3)Whether the Company’s Physical Sales Income Exceeded Service Income

□ Yes √No


(4)Degree of Performance of the Significant Sales Contract Signed up to this Report Period

√ Applicable □Not applicable

                                                                                                                                        16
Sino Great Wall Co., Ltd.                                                                          2015 Annual Report


On December 9, 2015, the company signed the general contract of USD 250 million of Colombo Free City
Center with Sri Lanka, but the company still has not enter into the site. On January 8, 2016, the company won
the bid of comprehensive development project of USD 285 million of Oxley-Gem(Cambodia)Co.,Ltd, and the
company had entered into the site in March, currently, the company completed the geological exploration and the
temporary construction. On January 15, 2016, the company won the bid of two projects of Burma M tower and
Min Apartment with bid amount respectively in USD 80 million and USD 120 million, and the company had
entered into the site for construction of the projects in January. On March 8, 2016, the company won the bid of
Indonesia EMERALD project, and the project still remained in the early stage of research, thus the company has
not entered into the site.

(5)Component of business cost

Industry Category


                                                                                             In RMB


                                                  2015                              2014                     Increase
      Industry              Items
                                       Amount            Proportion       Amount           Proportion       /decrease

Decoration works Labor wages         547,781,369.10            17.31%   615,001,376.10           27.34%

Decoration works Material           1,359,863,294.41           42.95% 1,394,068,420.78           61.96%

Decoration works Other                52,064,960.29             1.65%    76,883,845.43            3.42%

Engineering
                                      10,603,822.07             0.34%    11,928,193.73            0.53%
design

EPC                 Labor wages      227,743,800.08             7.20%    11,051,656.16            0.49%

EPC                 Material         695,054,284.77            21.96%    92,194,400.99            4.10%

EPC                 Other            271,915,654.94             8.59%    48,571,723.35            2.16%

Notes


 (6)Whether Changes Occurred in Consolidation Scope in the Report Period

√ Yes □No

In 2015, the company had completed the major asset replacement and the share-issuing to purchase the asset and
raise matching funds, which swapped out the company’s original total assets and liabilities, swapped in the
equivalent part of the equity of the Sino Great Wall International Engineering Co., Ltd which was held by all the
shareholders of Sino Great Wall International Engineering Co., Ltd. Sino Great Wall International Engineering
Co., Ltd shall be included in the consolidation scope in 2015.



(7)Relevant Situation of Significant Changes or Adjustment of the Business, Product or Service in the
Company’s Report Period

√ Applicable □Not applicable


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Sino Great Wall Co., Ltd.                                                                            2015 Annual Report


In 2015, the company had completed the major asset replacement and the share-issuing to purchase the asset and
raise matching funds, which swapped out the company’s original total assets and liabilities, swapped in the
equivalent part of the equity of the Sino Great Wall International Engineering Co., Ltd which was held by all the
shareholders of Sino Great Wall International Engineering Co., Ltd.,and differential sections were purchased by
my company ,issuing shares for all shareholders hold in Sino Great Wall International Engineering Co.,
LTD ,meanwhile, company has distributed supporting funds,255 million Yuan used for raising and restructuring
shares, to Chen lue and Hui tong After the completion of the major assets restructuring, the main business was
changed to engaging in general contracting of project (overseas), decoration, mechanical and electrical
installation, curtain wall design and construction and Investment and construction of hospital health industry
from the textile production and processing.

(8)Situation of Main Customers and Main Supplier

Information of the Company’s top 5 customers
 Total sales amount to top 5 sales customers
                                                                                                          1,626,764,008.69
 (RMB)
 Proportion of sales to top 5 customers in the
                                                                                                                  40.42%
 annual sales(%)
Information of the Company’s top 5 customers
 No         Name                                           Amount(RMB)              Proportion %

 1          Powerchina Construction Group Ltd.                      526,490,055.14                                13.13%

 2          China Harbour Engineering Company                       436,824,730.24                                10.89%

            OXLEY
 3                                                                  239,425,033.36                                  5.97%
            DIAMOND(CAMBODIA)CO,LTD

 4          CHina Central Asia Group Co., Ltd                       223,455,443.32                                  5.57%

            Henan No.1 Thermal Power Construction
 5                                                                  200,568,746.63                                  5.00%
             Company

 Total      --                                                     1,626,764,008.69                               40.56%

Principal suppliers
Information of the Company’s top 5 suppliers
 Total Purchase amount to top 5 sales suppliers (RMB)                                                      210,324,623.20

 Proportion of purchase to top 5 suppliers in the annual
                                                                                                                   14.11%
 purchase(%)

Information about the top 5 suppliers
 No              Name                                      Amount(RMB)              Proportion%^

 1               Qinghei Heyi Trade Co., Ltd.                        46,364,957.40                                  3.11%

 2               GOLDEN B.S.T CONCRETE CO.,LTD                       43,957,152.10                                  2.95%

 3               Unibeton Ready Mix                                  42,154,215.58                                  2.83%

 4               Zulin LS Engineering Co.Limited                     41,504,469.88                                  2.78%


                                                                                                                          18
Sino Great Wall Co., Ltd.                                                                                    2015 Annual Report


 5              CHIP MONG GROUP LTD.                                       36,343,828.24                                        2.44%

 Total          --                                                        210,324,623.20                                     14.11%


3.Expenses

                                                                                                                            In RMB

                                                                          Increase/Decrea
                                   2015                   2014                                                Notes
                                                                               se(%)
        Sale expenses                                                                         Due to the reduction of marketing
                                   13,686,172.10          16,414,043.95             -16.62%
                                                                                              personnel

Administration expenses                                                                       Due to the increase of overseas
                                                                                              branches and the increase of domestic
                                  154,562,327.86          84,770,936.89             87.64%
                                                                                              and overseas departments such as
                                                                                              group, optoelectronic and medical.

     Financial expenses                                                                       For the increase in the Company’s
                                                                                              short-term loan and long-term loan as
                                   54,866,402.02          25,561,307.08            114.65%
                                                                                              well as the increase in overseas L/G
                                                                                              amortization


4.R& D Expenses

√ Applicable □Not applicable

In order to strengthen the company’s core competitiveness and meet the company’s sustainable development, the
company’s main research directions in the reporting period were the decoration engineering design, general
contracting of project and so on, currently, all the projects have been carried out on schedule, which was proved
by the real facts and resulted in good economic and social benefits.
Situation of Research and Development Input by the Company


 Items                             2015                             2014                              Increase /decrease

      Number of Research and
       Development persons                                   189                               153                          23.53%
             (persons)

     Proportion of Research and
                                                          11.24%                           10.25%                               0.99%
       Development persons

      Amount of Research and
  Development Investment (In                       133,143,918.79                   90,629,133.01                           46.91%
              RMB)

     Proportion of Research and
  Development Investment of                                3.32%                            3.29%                               0.03%
         Operation Revenue



                                                                                                                                      19
Sino Great Wall Co., Ltd.                                                                 2015 Annual Report


    Amount of Research and
    Development Investment                         0.00                        0.00                      0.00%
    Capitalization (In RMB)

  Proportion of Capitalization
  Research and Development
                                                 0.00%                       0.00%                       0.00%
  Investment of Research and
    Development Investment

The Reason of the Prominent Change in Total Amount of Research and Development Input Occupying the
Business Income Year on Year
□ Applicable √Not applicable

Explanation of the Reason for Substantial Changes in the Research and Development Input’s Capitalization Rate
and Its Reasonableness
□ Applicable √ Not applicable

5.Cash Flow

                                                                                                       In RMB

              Items                    2015                2014                         Increase/Decrease(%)

Subtotal of cash inflow received
                                        4,257,440,458.70            2,032,366,032.40                    109.48%
from operation activities

Subtotal of cash outflow
received from operation                 4,549,491,715.78            1,868,518,643.06                    143.48%
activities

Net cash flow arising from
                                         -292,051,257.08             163,847,389.34                    -278.25%
operating activities

Subtotal of cash inflow received
                                                2,494.86                 105,388.10                      -97.63%
from investing activities

Subtotal of cash outflow for
                                           28,713,135.66               30,045,696.54                      -4.44%
investment activities

Net cash flow arising from
                                          -28,710,640.80              -29,940,308.44                      -4.11%
investment activities

Subtotal cash inflow received
                                        1,805,738,341.24             312,900,000.00                     477.10%
from financing activities

Subtotal cash outflow for
                                        1,146,676,943.40              269,562,115.66                    325.39%
financing activities

Net cash flow arising from
                                          659,061,397.84               43,337,884.34                  1,420.75%
financing activities

Net increase in cash and cash
                                          338,985,801.91             176,234,125.52                      92.35%
equivalents




                                                                                                               20
Sino Great Wall Co., Ltd.                                                                                        2015 Annual Report


Notes to the year-on-year change of the relevant data
√Applicable □ Not applicable
1. Net cash flows from operating activities decreased significantly over the previous year, which was mainly due
to the short period of credit accounts of overseas project suppliers.
2. The net cash flow from financing activities increased compared to the last year mainly due to the increase of
bank loans in the current period.
Notes to the big difference between cash flow from operating activities and net profit in the reporting year
√Applicable □     Not applicable
The large difference between the company’s net cash flows from operating activities and the net profits of the year
in the reporting period was mainly due to the increase of operating receivables.

Ⅲ.Analysis of Non-core Business

□ Applicable √ Not applicable

Ⅳ.Condition of Asset and Liabilities

1.Condition of Asset Causing Significant Change
                                                                                                                                 In RMB
                              End of 2015                        End of 2014
                                                                                            Proportion
                                                                             Proportion
                                        Proportion in the                                   increase/d Notes to the significant change
                        Amount                               Amount          in the total
                                         total assets(%)                                    ecrease
                                                                             assets(%)

                                                                                                         Due to the collection
Monetary funds        695,384,561.31             17.30%     290,949,160.76      11.89%          5.42% centralized at the end of the
                                                                                                         year and the deferred payment

                                                                                                         Mainly due to the smooth
                                                                                                         process of the major project
                                                                                                         under implementation, and the
Account
                     2,352,808,087.33            58.55% 1,784,235,686.61        72.90%        -14.34% increase of engineering
receivable
                                                                                                         revenue but because in the
                                                                                                         reporting period, there was no
                                                                                                         collection of it.

                                                                                                         For the increase in raw
                                                                                                         material and inventory goods at
                                                                                                         the end of period and partial
Inventory             168,133,668.91              4.18%      34,960,199.93       1.43%          2.76%
                                                                                                         increase in the current project
                                                                                                         which has been completed but
                                                                                                         haven’t been settled

                                                                                                         Mainly for the purchase of
Fixed assets            43,846,215.63             1.09%      10,346,069.91       0.42%          0.67% tower crane in overseas
                                                                                                         projects


                                                                                                                                           21
Sino Great Wall Co., Ltd.                                                                                          2015 Annual Report


Construction in
                        10,016,928.24                 0.25%       11,856,578.49      0.48%         -0.23%
process

Short-term loans       225,408,496.07                 5.61%     282,450,873.41       11.54%        -5.93%

                                                                                                            Due to the increase of the
Long-term loans         30,140,649.14                 0.75%                                        0.75%
                                                                                                            loan-term bank loans


2.Asset and Liabilities Measured by Fair Value

√Applicable □ Not applicable


                                          Gain/loss                                                                             Amount at
                                           on fair     Cumulative      Impairment                                               year end
                                                                                       Purchased
                      Amount at            value        fair value      provisions                      Sold amount in
                                                                                       amount in
Items                       year          change in      change           in the                        the reporting
                                                                                       the
                                             the         recorded       reporting                       period
                      beginning                                                        reporting
                                          reporting     into equity       period
                                           period

Financial assets

3.
Avaliable-for-sale   1,060,407.78         42,553.26                                                                             1,102,961.04
financial assets

Subtotal of
                     1,060,407.78         42,553.26                                                                             1,102,961.04
financial assets

Total                1,060,407.78         42,553.26                                                                             1,102,961.04

Financial
                                   0.00                                                                                                    0.00
Liabilities

Did any significant change occur to the attribute of the Company’s main asset measurement during the reporting
period?
□ Yes √No




                                                                                                                                            22
Sino Great Wall Co., Ltd.                                                                                   2015 Annual Report




Ⅴ.Investment situation

1. General

□Applicable     √Not applicable

2.Condition of Acquiring Significant Share Right Investment during the Report Period

□Applicable     √Not applicable

3.Situation of the Significant Non-equity Investment Undergoing in the Report Period

□ Applicable √ Not applicable

4.Investment of Financial Asset

(1)Securities investment

□ Applicable √ Not applicable

The Company had no securities investment in the reporting period.

(2)Investment in Derivatives

□ Applicable √ Not applicable
The Company had no investment in derivatives in the reporting period.

5.Application of the raised capital

√ Applicable □ Not applicable

(1)General application of the raised funds

√ Applicable □ Not applicable
                                                                                                                        In RMB’0000

                                                           Amount of Accumulat Proportion          Total
                                                                                                                          Amount of
                                                             raised   ive amount of      raised Amount of     Use and
                                      Total                                                                               the Raised
                                                   Total    capital of of   raised capital   of     the      Whereabo
                       Total        Amount of                                                                             Fund with
  Year of     Way of                             amount of which the capital     of which the     Unused     uts of the
                       raised       the Raised                                                                             over 2
  Raising    Raising                              Raised    purpose which the purpose             Raised      Unused
                       capital      Fund Used                                                                               Years’
                                                  Funds       was     purpose      has    been Fund at        Raised
                                      at the                                                                                Idling
                                                           changed in has    been changed           the        Fund
                                                            the report changed     (%)            Current



                                                                                                                                      23
Sino Great Wall Co., Ltd.                                                                                                          2015 Annual Report


                                                                              period                                      Period

                                                                                                                                      In the
                                                                                                                                      special
              Stocks
2015                              25,500           1,600            1,600              0             0        0.00%        23,900 account to                     0
              issue
                                                                                                                                      raise funds
                                                                                                                                      in storage

Total             --              25,500           1,600            1,600              0             0        0.00%        23,900          --                    0

                                                               Notes to use of raised capital

Upon the approval from the CSRC with the document of the 2015-No.1774 Zheng Jian Xu Ke -Reply of the Major Asset
Restructuring and the Issue of Shares to Objects such as Chen Lue to Purchase Assets and Raise Matching Funds by Shenzhen
Victor Onward Textile Industrial Co., Ltd, Sino Great Wall International Engineering Co.,Ltd( hereinafter referred to as: “company
or the company”) had non-publicly issued 25,914,633 shares of RMB common share(A share), of which the par value per share was
RMB 1.00, the issuing price per share was RMB 9.84, the total funds raised was RMB 254,999,988.72, and after deducting the
issuance expenses of RMB 14,500,000.00 directly from the raised funds, the actual net amount of the raised funds is RMB
240,499,988.72.




(2)Promised projects of raised capital

√ Applicable □ Not applicable
                                                                                                                                                     In RMB’0000

                                                                                                                Date
                                                                                    Accumul Investme
                                                                                                              when the
                                            Total                                      ated           nt                                                Has any
                              Project                       Total      Amount                                  project      Benefit
                                            raised                                   amount        progress                              Has the        material
                             changed(i                 investme inested in                                       has        realized
Committed investment                       capital                                  invested ended the                                   predicted      change
                             ncluding                      nt after         the                                reached       in the
projects and investment                    invested                                 at the end reporting                                 result be       taken
                              partial                  adjustme reporting                                        the       reporting
                                              as                                       of the      period(%                              realized       place in
                             change)                       nt (1)       period                                predicted     period
                                         commited                                   reporting )(3)=(2)(                                                feasibility
                                                                                                              applicabl
                                                                                    period(2)         1)
                                                                                                               e status

Committed investment projects

1. Overseas marketing
network       construction No                10,000         10,000                                                                      No             No
project

2.Informatization
                             No               2,500           2,500                                                                     No             No
Construction Phase II

3.Related     taxes    and
agency fees of this No                       13,000         13,000          1,600          1,600    12.31%                              No             No
transaction

Subtotal of committeed
                                  --         25,500         25,500          1,600          1,600      --          --                            --          --
investment projects


                                                                                                                                                                 24
Sino Great Wall Co., Ltd.                                                               2015 Annual Report


Investment orientation for und arising out of plan

No                                                                                           No        No

Subtotal investment
                              --            0                                 --   --    0        --        --
orientation

Total                         --        25,500       25,500   1,600   1,600   --   --    0        --        --

Situation about not
coming up to schemed
progress or expected       Not applicable
revenue and the reason
( in specific project0

Notes to significant
change in feasibility of Not applicable
the project

Amount, application        Not applicable
and application
progress of the
unbooked proceeds

About the change of        Not applicable
the implementation site
of the projects invested
with the proceeds

Adjustment of the          Not applicable
implementation way of
investment funded by
raised capital

About the initial          Not applicable
investment in the
projects planned to be
invested with the
proceeds and the
replacement

Using the idle proceeds Not applicable
to supplement the
working capital on
temporary basis

Balance of the             Not applicable
proceeds in process of
project implementation
and the cause

About application and
                           Not applicable
status of the proceeds

                                                                                                                 25
Sino Great Wall Co., Ltd.                                                                                       2015 Annual Report


unused

Problems existing in
application of the
proceeds and the             Not applicable
information disclosure
or other issues


(3)Changes of raised funds projects

□ Applicable √ Not applicable
The Company had no raised funds in company reporting period.

VI. Sales of major assets and equity

1. Sales of major assets

□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.

2.Sales of major equity

□ Applicable √ Not applicable

Ⅶ.Analysis of the Main Share Holding Companies and Share Participating Companies

√ Applicable □ Not applicable
Situation of Main Subsidiaries and the Joint-stock Company with over 10% net profit influencing to the Company
                                                                                                                                   In RMB

  Company          Company                                  Registered                                          Operating
                                    Sectors engaged in                   Total assets   Net assets   Turnover                    Net Profit
    Name              type                                   capital                                              profit

Sino Great
Wall                             Contract of construction
                                                            70,136,09    3,758,560,7 1,152,792,8 3988,440, 437,543,279 357,624,09
International     Subsidiaries project,       decoration,
                                                            9.00               41.47         36.44     464.76              .15         9.32
Engineering                      healthcare investment
Co., Ltd.

Acquirement and disposal of subsidiaries in the Reporting period
√Applicable □Not applicable
                                                 The method of obtaining and handling         The influence to the whole production and
                Company name
                                                  subsidiaries during the report period                     performance

Sino International                             Assets reorganization                          361,561,752.41

Notes

In 2015, the company had completed the major asset replacement and the share-issuing to purchase the asset and

                                                                                                                                          26
Sino Great Wall Co., Ltd.                                                                     2015 Annual Report


raise matching funds, which swapped out the company’s original total assets and liabilities, swapped in the
equivalent part of the equity of the Sino Great Wall International Engineering Co., Ltd which was held by all the
shareholders of Sino Great Wall International Engineering Co., Ltd. Sino Great Wall International Engineering
Co., Ltd shall be included in the consolidation scope in 2015.

Ⅷ.Special purpose vehicle controlled by the Company

□ Applicable √ Not applicable

Ⅸ.Prospect for future development of the Company

1.Strategy of the Company’s Development
Based on the continuous consolidation of the existing business market,The company development strategy focuses
on two aspects: 1, it reinforces ”one belt one road”engineering contracting and investment; 2, it strengthens its
efforts in investing in domestic medical care field. So far, the company has boasted many projects in Southeast
Asia, South Asia, Middle East and Africa. The next step will be, in addition to enhancing development and
investment in these countries, to focus on expanding the high-end markets in North America, South America,
Australia and Europe. In the medical investment filed, besides the PPT-based investment and construction of
hospitals, more capitals shall be invested in acquiring well-operated hospitals, arranging e-commerce model for
medicine, and introducing advanced medical technology and leading medical service from foreign countries.
2.Perspective of the Company’s Operation in 2016
In 2016, the Company will surround the development strategy formulated by the board of directors, to emphasize
on carrying out the following work:
(1)Perfect the construction qualification, extend the domestic business scope
In 2016, while ensuring the steady development in domestic decoration, the traditional main business, the
Company will gradually perfect the contract qualification in construction, actively integrate decoration,
mechanical and electrical installation, curtain wall design and installation, resource allocation of construction and
contract, develop superior and high-end strategic partners , which is to provide integrated service of perfect,
high-quality and efficient construction and decoration for clients.
(2) Improve the influence in overseas markets, extend overseas business share
In 2016, the Company will continue to going deep into the overseas market. With the boost of the national
strategy of“One Belt and One Road”, sufficiently master the construction opportunity from the countries and
regions along the route, probe into carrying out cooperation with Asia Infrastructure Investment Bank and Silk
Road Fund Co. Ltd. as well as other political financial institutions. By means of deeper cooperation, extend the
Company’s overseas business scale and improve the overseas influence of Sino Great Wall.
  (3) Strive for implementation in partial medical projects, cultivate new growth points in profit.
In 2016, the Company will sufficiently make use of the good opportunities offered by the national medical reform,
actively develop the range service in healthcare, seek for high-quality projects. On the basis of the work in 2015,
the Company will open up deep communication with relevant party, innovate cooperation mode. By means of
investigation, the Company will compile the feasibility analysis report, formulate the specific cooperation plan
and the project implementation plan, promote the implementation of healthcare project to make material progress
on the road to healthcare industry; The Company will start the new engine for its healthcare business development,
improving the operation efficiency and profitability of the Company.


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Sino Great Wall Co., Ltd.                                                                     2015 Annual Report


(4) Strengthen the talent team construction, enhance the team cohesion
In 2016, the Company will continue to intensify the HR development to reserve superior talents for the
Company’s future business development. By means of holding expert lectures, setting up online academy,
strengthen the education and training of staff, promote staff’s professional ability and comprehensive quality,
constantly perfect the staff training and the examination and evaluation system, probe into talent incentive
mechanism, accelerate the optimal construction of operation team, improve the cohesion and work efficiency of
the top management team.
3. Main risks the Company are facing with and solutions
  (1)Macro Economy and Political Influence
The construction industry which the Company engages in and the healthcare industry which the Company is
getting involved in are substantially influenced by the macro economy and policy, Bringing potential risks to the
company's market development and the company’s operation and management.
 Measures: Constantly pay close attention to the international and domestic economic situation, make reasonable
prejudgement, timely adjust the operation strategy and marketing policy, formulate the preplan for coping with
market changes, ensure that the operation goals of 2016 can be smoothly realized.
          (2) Risks in Overseas Business Operation
In spite of the Company’s years of experience in domestic construction, but various of differences exist between
the international architecture construction environment and the domestic market, including marketing, technical
standard, management. Whether to connect the domestic construction experience with the overseas projects well
and how to avoid and evade the geographic political risk and exchange rate risk are still biggish tests for the
Company.
Measures: Hire and introduce various kinds of top talents, improve the business operation level, strengthen the
supervision and control in projects. In the case of choosing projects, focus on risk assessment, avoid and keep
away from the countries and regions which are under unsteady social security and political environment as much
as possible.
(3) Risk of Receivables Withdrawal
      With the rapid development of the Company’s business, the receivables increase continuously. How to
manage receivables and reduce the withdrawal risk in order to avoid bad-debt losses caused by receivables in
large amount which can not be withdrawn is also one of the risks the Company will face with.
Measures: Set up a special group, strengthen in push for receivables, track the change situation of the key clients’
credit. Once founded hard to withdraw the receivables, the judicial procedure of arbitration will be started to
maintain the legitimate rights of our company.
(4) Progress of the Project and Risk of the Quality
      In view of construction business engaged by the Company, ensuring the project will be completed as
scheduled and guaranteeing the quality conform with standards are always the goals which the Company pursues,
which is also the problem the Company will face with all along. Once there is delay in construction time and issue
in construction quality, it will constitute bad influence to the Company.
  Measures: Strictly implement project management system, set up an elite management group, formulate detailed
construction plans, supervise and monitor the construction progress and construction quality regularly, rectify
problems on time when founded, ensure the construction period and quality.

  Ⅹ.Particulars about researches, visits and interviews received in this reporting period



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Sino Great Wall Co., Ltd.                                                                               2015 Annual Report


1.Particulars about researches, visits and interviews received in this reporting period

√ Applicable □ Not applicable
         Reception time             Way of reception               Types of visitors                   Basic index

                                                                                       The   interactive     relation     with    the
                                                                                       investors on Shenzhen Stock Exchange
                                                                                       platform    about     Sino       Great    Wall
December 31,2015              Onsite investigation            Organization
                                                                                       International   Engineering        Co.,   Ltd:
                                                                                       Record     of   the   investors      relations
                                                                                       activities on December 31, 2015.

Reception times                                                                                                                    1

Reception agency amount                                                                                                            7

Reception personal number                                                                                                          0

Others                                                                                                                             0

Whether to disclose, reveal or disclose non-public material
                                                              No
  information




                                                                                                                                    29
Sino Great Wall Co., Ltd.                                                                                       2015 Annual Report




                                                    V. Important Events



ⅠSpecification of profit distribution of common shares and capitalizing of common reserves

Formulation, implementation and adjustment of profit distribution policy of common shares especially cash
dividend policy during the reporting period
□ Applicable √ Not applicable
The profit distribution preplan or proposal and the preplan or proposal of conversion of the capital reserve into
share capital in the past three years(with the reporting period inclusive):
Profit distribution preplan for 2013:

    1 As audited by Da Hua Certified Public Accountants(Special General Partnership) , the total profit of the
Company for 2013 is RMB10,234,487 , After deduction of minority gains and losses of RMB-364,906 and
income tax expenses of RMB 2,384,583, net profit is RMB8,214,810,the total year-end undistributed profit is
RMB-108,059,131. The Company is neither to distribute profit nor to capitalize capital surplus for the current
year.
Profit distribution preplan for 2014:
    1 As audited by Da Hua Certified Public Accountants(Special General Partnership) , the total profit of the
Company for 2014 is RMB4,740,872 , After deduction of minority gains and losses of RMB-3,709 and income
tax expenses of RMB 453,676, net profit is RMB4,290,905,the total year-end undistributed profit is
RMB-103,768,226. The Company is neither to distribute profit nor to capitalize capital surplus for the current
year.
Profit distribution preplan for 2015:
     based on the 2014 total share capital of 446.906582 million shares, The Company will transfer the capital
reserve to increase capital stock, 28 shares for every 10 shares.
The preplan had reviewed and approved by the Board of Directors and planed to submit to the Annual General
Meeting for approval.
Dividend distribution of the latest three years
                                                                                                                               In RMB


                                                     Net profit
                                                                        Ratio in net profit
                                                 attributable to the                           Amount of cash       Proportion of cash
                                                                        attributable to the
                            Cash dividend        over of the parent                           dividends from cash dividends from cash
        Year                                                           parent company in
                         (Including Tax)          company in the                              offer to repurchase   offer to repurchase
                                                                        the consolidated
                                                   consolidated                               shares of the funds   shares of the funds
                                                                       financial statements
                                                financial statements

        2015                             0.00        346,648,651.48                   0.00%                  0.00                0.00%

        2014                             0.00        186,857,504.45                   0.00%                  0.00                0.00%


                                                                                                                                          30
Sino Great Wall Co., Ltd.                                                                                     2015 Annual Report


        2013                            0.00        103,518,058.00                  0.00%                   0.00                  0.00%

In the reporting period, both the Company’s profit and the parent company’s retained earnings were positive
however not cash dividend distribution proposal has been put forward.
√ Applicable □ Not applicable
     In the reporting period, it was profitable and the profits
 distributed among common shareholders were positive, but the                Purpose of and plans to use undistributed profits.
 reason for the profit-sharing scheme by cash was not proposed.

As the company is in the period of fast development, the
company’s construction contracting business needed to pay a
certain proportion for the guarantee, so the funds demand is
                                                                     Used for daily operations and future business development and
large, therefore according the company’s actual operation and the
                                                                     future annual profit distribution
principal of being helpful to the company’s sustainable
development, the company shall not carry out cash dividend
distribution for the year 2015.

 II.Profit distribution plan and capitalizing of common reserves plan for the Period

√ Applicable □ Not applicable
Bonus shares for every ten shares(Shares)                                                                                             0

Cash dividend for everty ten shares
                                                                                                                                      0
(Yuan)(Tax-included)

Distribute additional (shares)for 10 shares                                                                                          28

A total number of shares as the distribution
                                                                                                                          446,906,582
 basis(shares)

Total cash dividend (Yuan)(Tax-included)                                                                                           0.00

Distribution of profits(RMB)                                                                                           755,308,636.19

Proportion of cash dividend in the distributable
                                                                                                                                  0.00%
profit (%)

                                                   Cash dividend distribution policy

Other

                                      Details of profit distribution or reserve capitalization plan

     As audited by BDO China Shu Lun Pan Certified Public Accountants LLP, the total profit of the Company for 2015 is
RMB430,792,029.49, Attributable to shareholders of the parent company's net profit of RMB 346,648,651.48. The profit
distribution proposal reviewed as follows: 446.906582 million shares for the base, ,The Company will transfer the capital reserve to
increase capital stock, 28 shares for every 10 shares and planed to submit to the Annual General Meeting for approval.




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Sino Great Wall Co., Ltd.                                                                                     2015 Annual Report


III.Commitments to fulfill the situation

1.The fulfilled commitments in the reporting period and under-fulfillment commitments by the end of the
reporting period made by the company, shareholder, actual controller, acquirer, director, supervisor,
senior management personnel and other related parities.

√ Applicable □ Not applicable


                                                                                                      Time of      Peiod of
                                       Commitment                                                                              Fulfill
            Commitment                                Type                 Contents                   making      commitme
                                            maker                                                                              ment
                                                                                                    commitment         nt

Commitment on share reform             No             No     No                                                   No          No

Commitment in the acquisition report
                                       No             No     No                                                   No          No
or the report on equity changes

                                                             Shares acquired by purchases of
                                                             assets through issuing shares: “I
                                                             will not transfer the new shares of
                                                             Victor Onward Holdings acquired
                                                             through this restructuring,
                                                             including but not limited to the
                                                             public transfer through the stock
                                                             market or by agreement, and I will
                                                             not entrust anybody else to
                                                             manage my shares of Victor
                                                             Onward Holdings, within 36
                                                             months from the date new shares
                                                             list and before the date I’ve
                                                             carried out my obligations of                                    Strict
                                       Chen Lue, He                                                 March
Commitments in assets reorganization                         performance compensation under                       36 months    perfor
                                        Feiyan                                                      19,2015
                                                             this restructuring(subject to                                     ming
                                                             whatever is early, hereinafter
                                                             referred to as “lock-up periods”).
                                                             If the closing price of shares of
                                                             Victor Onward Holdings were
                                                             lower than this issue price for 20
                                                             continuous trading days in 6
                                                             months after the restructuring
                                                             transaction has been completed, or
                                                             the final closing price were lower
                                                             than this issue price 6 months
                                                             after the transaction has been
                                                             completed, the lock-up periods of
                                                             my shares of Victor Onward


                                                                                                                                       32
Sino Great Wall Co., Ltd.                                                               2015 Annual Report


                                       Holdings are automatically
                                       prolonged for 6 months. (The
                                       above-mentioned issue price will
                                       be calculated according to the
                                       price after the adjustment of
                                       ex-dividend, etc. if ex-dividend
                                       behaviors of the company,
                                       including distribution of
                                       dividends, giving bonus,
                                       conversion of share capital,
                                       rationing shares, and etc., were
                                       happened during the
                                       above-mentioned periods. If the
                                       restructuring transaction were
                                       March 19,2015 36 mont hs Strict
                                       perfor ming Shenzhen Victor
                                       Onward Textile Industrial Co.,
                                       Ltd. The Third Quarterly Report
                                       2015. 14 investigated by judicial
                                       authorities or China Securities
                                       Regulatory Commission due to
                                       false record, misleading statement
                                       or major omission of the
                                       information provided or disclosed,
                                       I will not transfer my shares of the
                                       company before the conclusion of
                                       the case has been made clear.
                                       After the above-mentioned
                                       lock-up periods, I will sell or
                                       transfer the new shares of the
                                       company acquired from this
                                       restructuring following relevant
                                       regulations of China Securities
                                       Regulatory commission and
                                       Shenzhen Stock Exchange.

                                       Shares acquired by matching
                                       funds raised: “I will not transfer
                                       the new shares of Victor Onward
                                       Holdings acquired through this                                   Strict
                                                                              March
                            Chen Lue   issuing by any way, including but                    36 months    perfor
                                                                              19,2015
                                       not limited to the public transfer                                ming
                                       through the stock market or by
                                       agreement, within 36 months from
                                       the date new shares list. If


                                                                                                                 33
Sino Great Wall Co., Ltd.                                                               2015 Annual Report


                                       regulation rules or regulators have
                                       longer requirements for lock-up
                                       periods, it should be executed
                                       accordingly.

                                       Up to the issue day of the letter, I
                                       and other corporations controlled
                                       by me haven’t possessed funds of
                                       Sino Great Wall; After the
                                       transaction is completed, I and
                                       other companies controlled by me
                                       (if any), except for listed
                                       companies and their holding
                                       subsidiaries, will not possess the
                                       funds of listed companies or Sino
                                       Great Wall by any way, including
                                       cash in advance, other expenses,
                                       direct or indirect loans,
                                       assumption, etc. and try our best
                                       to avoid fund intercourse with
                                                                                                      Strict
                                       listed companies or Sino Great         March
                            Chen Lue                                                        Long-term perfor
                                       Wall, which has nothing to do          19,2015
                                                                                                       ming
                                       with normal operations. If Sino
                                       Great Wall got penalized by
                                       government administration
                                       departments due to the money
                                       lending which was happened
                                       before the transaction, I will bear
                                       the total compensation for the
                                       company’s loss resulting from it
                                       by cash in order to guarantee Sino
                                       Great Wall won’t suffer any loss.
                                       Meanwhile, I will actively urge
                                       Sino Great Wall to establish
                                       complete inner control system and
                                       funds management system within
                                       lawful authority.

                                       In view of the fact that the houses
                                       rented by Sino Great Wall and it’s
                                       son subsidiaries, subsidiaries,
                                                                                                      Strict
                                       haven’t rental registration, I        March
                            Chen Lue                                                        Long-term perfor
                                       promise, if Sino Great Wall and        19,2015
                                                                                                       ming
                                       its son subsidiaries, subsidiaries,
                                       were penalized by real estate
                                       management department or

                                                                                                               34
Sino Great Wall Co., Ltd.                                                              2015 Annual Report


                                       suffered other losses resulting
                                       from it, I agree to compensate the
                                       loss of the company by cash.

                                       During the reporting period, the
                                       project which Sino Great Wall is
                                       involved in is the decoration
                                       engineering construction project
                                       of Libo Grand Hotel (hereinafter
                                       referred to as “Libo project”)
                                       which the company contracted
                                       before the bidding process. Sino
                                       Great Wall is not involved in any
                                       other projects except for Libo
                                       project before bidding process. As
                                       to the violating issues existed in
                                       the Libo project, I promise as                                Strict
                                                                             March
                            Chen Lue   follows: if Sino Great Wall got                     Long-term perfor
                                                                             19,2015
                                       penalized by government                                        ming
                                       administration departments or
                                       suffered any economic loss
                                       resulted from it, I will compensate
                                       the company by cash; Meanwhile,
                                       I, within lawful authority, will
                                       also promise to urge the company
                                       to undertake related construction
                                       projects legally so as to avoid
                                       violating issues happened before
                                       implementation of bidding
                                       process, i.e., at the time for
                                       construction again.

                                       “1. Up to October 13th,2014, the
                                       related expenses of the litigation
                                       and arbitration cases, including
                                       the actual price, compensation,
                                       penalty, ligation costs, etc. which
                                       the parent-subsidiary companies
                                                                                                     Strict
                                       of Sino Great Wall needs to pay       March
                            Chen Lue                                                       Long-term perfor
                                       caused by the final results of        19,2015
                                                                                                      ming
                                       ligation and arbitration cases,
                                       exceed the amount of liabilities
                                       which recognized in the “Audit
                                       Report” made for Sino Great Wall
                                       by Ruihua CPA (Special Ordinary
                                       Partnership) on the basis of the

                                                                                                              35
Sino Great Wall Co., Ltd.                                                              2015 Annual Report


                                       audit base day of July 31st, 2014,
                                       I promise to bear the balance by
                                       cash unconditionally so as to
                                       guarantee the parent-subsidiaries
                                       of Sino Great Wall won’t suffer
                                       any loss. 2. This commitment
                                       letter is irrevocable.

                                       1. On condition that ownership
                                       defect exists in the lease of house
                                       property of parent-subsidiary
                                       companies of Sino Great Wall and
                                       its subsidiary corporation, which
                                       resulted in inability for
                                       parent-subsidiary companies of
                                       Sino Great Wall and its subsidiary
                                       corporation to continue leasing
                                       this house property but having to
                                       relocate, or parent-subsidiary
                                       companies of Sino Great Wall and
                                       its subsidiary corporation can’t
                                       timely find suitable workplace for
                                       lawful operation in related area, I
                                       will undertake to compensate by
                                       cash for parent-subsidiary
                                       companies of Sino Great Wall’s                               Strict
                                                                             March
                            Chen Lue   losses which are caused by                          Long-term perfor
                                                                             19,2015
                                       operation and finance due to the                               ming
                                       above-mentioned matters. 2. I
                                       undertake to unconditionally bear
                                       the relevant fines by cash for
                                       parent-subsidiary companies of
                                       Sino Great Wall on condition that
                                       the rental house property of
                                       parent-subsidiary companies of
                                       Sino Great Wall and its subsidiary
                                       corporation is in absence of
                                       handling procedures for filing
                                       house leasing ,which resulted in
                                       that parent-subsidiary companies
                                       of Sino Great Wall and its
                                       subsidiary corporation are fined
                                       by property administrative
                                       department. 3.The commitment
                                       letter is irrevocable.


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Sino Great Wall Co., Ltd.                                                               2015 Annual Report


                                       “In condition that
                                       parent-subsidiary companies of
                                       Sino Great Wall or its son
                                       subsidiary haven’t paid social
                                       security or housing fund for staff
                                       according to law, which resulted
                                       in any losses to Sino Great Wall ,
                                       including the competent
                                       authorities’ requirement for Sino                             Strict
                                                                              March
                            Chen Lue   Great Wall or its subsidiary to                      Long-term perfor
                                                                              19,2015
                                       make supplementary payment, to                                  ming
                                       be punished and resourced, I will
                                       bear by full-amount cash for the
                                       fee of supplemental payment and
                                       the expense and fee for being
                                       punished or resourced, which is to
                                       guarantee Sino Great Wall and its
                                       subsidiary to avoid suffering from
                                       any loss ”.

                                       “At present, Suzhou Lvbang has
                                       possessed one state-own land use
                                       right, of which the land certificate
                                       is Suzhou Guo Yong(2014)
                                       No.Y2014086”, locates in Danan
                                       Village, Dadian Town, Yongqiao
                                       District, Suzhou City with 32,966
                                       square meters of area and the
                                       purpose for industry. Suzhou
                                       Lvbang possesses its own factory
                                       with 9,843.87 square meters of
                                       area above-mentioned, which is                                 Strict
                                                                              March
                            Chen Lue   the building reserved on the                         Long-term perfor
                                                                              19,2015
                                       former selling land. Suzhou                                     ming
                                       Lvbang is carrying out
                                       refurnishing and reconstruction
                                       for this factory and has acquired
                                       “License of Construction Land
                                       Planning ”with No.2014-08-001
                                       approved and issued by Yongqiao
                                       District, Suzhou City’s housing
                                       and rural construction bureau, of
                                       which other examination and
                                       approval procedures of
                                       construction are in the process of


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Sino Great Wall Co., Ltd.                                                                2015 Annual Report


                                       handling “I undertake to actively
                                       supervise and urge Suzhou
                                       Lvbang on handling procedures of
                                       the approval process involved
                                       with factor refurnishing and
                                       reconstruction, and which is
                                       suffered from administrative
                                       punishment by relevant competent
                                       authorities in reason of claiming
                                       certificate of title, or in which any
                                       dispute or controversy exist in
                                       construction and ownership,
                                       which shall be my responsibility
                                       to carry out solution, and I
                                       undertake to compensate by cash
                                       for Suzhou Lvbang’s losses which
                                       are due to this matter,
                                       guaranteeing no losses occur to
                                       Sino Great Wall and Suzhou
                                       Lvbang for this matter.

                                       “According to the “Agreement of
                                       Significant Asset Replacement
                                       and Issue of Share to Buy
                                       Asset”(hereinafter referred to as
                                       “Agreement”) signed among
                                       Victor Onward Holdings, all
                                       shareholders of Sino Great Wall
                                       and Union Development Group
                                       Co., Ltd (hereinafter referred to
                                       as“ Union Group”) on October 13,
                                       2014, all the creditor’s rights and
                                                                                                       Strict
                                       liabilities related to place-out        March
                            Chen Lue                                                         Long-term perfor
                                       asset before the delivery date of       19,2015
                                                                                                        ming
                                       Victor Onward Holdings shall be
                                       Union Group’s responsibility to
                                       carry out solution; After the asset
                                       delivery date, if any losses occur
                                       to Victor Onward Holdings in
                                       reason of the liability transfer of
                                       asset delivery, personnel
                                       placement, unsettled dispute or
                                       controversy and other
                                       compensation related to place-out
                                       asset, payment obligation and


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Sino Great Wall Co., Ltd.                                                                   2015 Annual Report


                                             punishment, Union Group or the
                                             specified third party shall
                                             sufficiently compensate all losses
                                             for Victor Onward Holdings for
                                             the above matters. I undertake, if
                                             Union Group and the specified
                                             third party refuse to compensate
                                             the losses caused by the above
                                             mentioned matters for Victor
                                             Onward Holdings according to
                                             the“ Agreement”, I will
                                             compensate by cash for the Victor
                                             Onward Company within 5
                                             working day in advance.
                                             Meanwhile, I will reserve the
                                             resource rights for Union Group
                                             and the specified third party “.

                                             According to“ Agreement of
                                             Shenzhen Victor Onward Textile
                                             Industrial Co., Ltd., Chen Lue and
                                             He Feiyan Concerning on
                                             Performance Compensation” and
                                             its supplemental agreement , Chen
                                             Lue’s promised Sino Great Wall
                                             that the net profit deducted by
                                             incidental losses and attributable
                                             to the parent companies’ owners
                                             after audition of 2015, 2016 and                             Strict
                            Chen Lue , He                                         May
                                             2017 shall be respectively more                    Long-term perfor
                             Feiyan                                               11,2015
                                             than RMB 345.8 million, RMB                                   ming
                                             438.5 million and RMB 538.2
                                             million. If the net profit of Sino
                                             Great Wall is less than the
                                             promised net profit mentioned
                                             above , Chen Lue and He Feiyan
                                             will compensate for listed
                                             company in accordance with
                                             “Performance Compensation
                                             Agreement” and its supplemental
                                             agreement

                            Chen Lue; He     1. This reorganization is planned
                                                                                                          Strict
                            Feiyan, Wuxi     to place in asset. At present,       September
                                                                                                Long-term perfor
                            Hengtai          complete separation has existed      30,2015
                                                                                                           ming
                            Jiuding Assets   between me or other enterprises

                                                                                                                   39
Sino Great Wall Co., Ltd.                                                            2015 Annual Report


                            Management       under my possession (if any) and
                            Centre           the listed company in staff, asset,
                            (LP);Yantai    finance, institution and business
                            Zhaoxuan         of Sino Great Wall. Independence
                            Yuantai          exists in both staff, asset, finance,
                            Jiuding          institution and business and no
                            Venture          confusion exists. 2. I undertake,
                            Investment       after this reorganization, to ensure
                            Centre           the continued complete separation
                            (LP);Suzh      between me or other enterprises
                            ou Taiyao        under my possession(if any) and
                            Zhongshan        the listed company in staff, asset,
                            Jiuding          finance, institution and business,
                            Investment       sustaining the independence in the
                            Centre           listed company’s staff, asset,
                            (LP);Jiaxing   finance, institution and business,
                            Jiahe Jiuding    as follows: (1).The Ensurance of
                            Investment       Independence for Listed
                            Centre(LP)     Company’s Personnel Ensure that
                                             the general manager, the
                                             vice-general manger, the chief
                                             financial officer, the board
                                             secretary and the senior
                                             executives of the Company only
                                             accept salary in listed company,
                                             including no holding of any post
                                             except director and supervisor in
                                             my enterprise or other enterprises
                                             under my possession. 2.Ensure the
                                             complete independence exists
                                             among the listed company’s labor,
                                             personnel, and salary management
                                             and me. 3. The director,
                                             supervisor, general manager and
                                             other senior executives
                                             recommended by me have all
                                             been through the legal procedures,
                                             and I will not intervene the
                                             company’s board and the
                                             shareholder’s decision for
                                             appointing and dismissing
                                             personnel by exercising official
                                             power. (2)The Ensurance of the
                                             Asset Independence of Listed


                                                                                                          40
Sino Great Wall Co., Ltd.                                            2015 Annual Report


                            Company 1.Ensure that the listed
                            company possesses business
                            system related to operation and
                            the relevant
                            completely-independent asset.
                            2.Ensure that no occupation of
                            mine exists in capitals and assets
                            of the listed company. 3.The
                            Ensurance of the Financial
                            Independence of Listed Company
                            1.Ensure that the independent
                            finance department and the
                            independent financial calculating
                            system set up by the listed
                            company, which possess
                            normative and independent
                            financial and accounting rules. 2.
                            Ensure that the listed company
                            independently opens a bank
                            account, not sharing the same
                            bank account with me. 3.Ensure
                            that the financial staff of the listed
                            company holds no part-time post
                            in my enterprise and other
                            enterprises under my possession.
                            4. Ensure that the listed company
                            pays taxes according to law. 5.
                            Ensure that the listed company
                            makes the financial
                            decision-making independently, I
                            will not intervene the utilization
                            of the listed company’s capital.
                            (4)The Ensurance of the
                            Institutional Independence of
                            Listed Company 1.Ensure that the
                            listed company sets up perfect
                            governance structure for the share
                            company’s legal person, which
                            possesses independent and
                            complete institutional framework
                            2.Ensure that the shareholder’s
                            meeting, the board of director, the
                            independent director, the
                            supervisor and the general


                                                                                          41
Sino Great Wall Co., Ltd.                                                                     2015 Annual Report


                                             managers exercise official powers
                                             according to laws, regulations and
                                             articles of incorporation (5)The
                                             Ensurance of the Business
                                             Independence of Listed Company
                                             1. Ensure that the listed company
                                             possesses the asset, staff,
                                             qualification and ability for
                                             independently holding business
                                             activities, which possesses the
                                             independent, autonomous and
                                             sustain operation ability catering
                                             to the market. 2. Ensure that I will
                                             not intervene the listed company’s
                                             business activities except
                                             exercising shareholder’s rights.
                                             3.Ensure that I or other enterprises
                                             under my possession will avoid
                                             working on the listed company’s
                                             main business which possesses
                                             substantial competition. 4. Ensure
                                             to reduce the related transaction
                                             between me and the listed
                                             company or between other
                                             enterprises under my possession
                                             and the listed company as much
                                             as possible; When confirming
                                             necessary but unavoidable related
                                             transaction, I will ensure the fair
                                             operation according to the
                                             principle of market culture and the
                                             fair price, and fulfill the
                                             transaction procedures and the
                                             obligation of disclosing
                                             information according to relevant
                                             laws and regulations and
                                             normative document.

                            Wuxi Hengtai     “Once I or our unit acquire the
                            Jiuding Assets   newly-added share of Victor
                            Management       Onward Company through this                                    Strict
                                                                                    March
                            Centre(LP);    transaction, no transfers will occur                 12 months perform
                                                                                    19,2015
                            Yantai           in any way within 12 months from                               ing
                            Zhaoxuan         the listing date, including but not
                            Yuantai          limited to public transfer by


                                                                                                                     42
Sino Great Wall Co., Ltd.                                                                2015 Annual Report


                            Jiuding          securities market or transfer by
                            Venture          agreement, and no entrusting for
                            Investment       others to manage my holding
                            Centre           share of Victor Onward Holdings .
                            (LP);Suzh      Once the above-mentioned lockup
                            ou Tianyao       period expires, I will implement
                            Zhongshan        the selling or transferring of the
                            Jiuding          newly-added share of Victor
                            Investment       Onward Holdings according to the
                            Centre(LP);    relevant provision of CSRC and
                            Jiaxing Jiahe    SZSE.
                            Jiuding
                            Investment
                            Centre(LP)

                                             “1.Before this reorganization, the
                                             fairness and reasonableness of
                                             pricing and the legitimacy and
                                             effectiveness of decision-making
                            Chen Lue; He
                                             procedure exist in the
                            Feiyan,Wuxi
                                             transaction(if any) between me or
                            Hengtai
                                             the enterprise under my
                            Jiuding Assets
                                             possession(if any) and Sino Great
                            Management
                                             Wall which is planned to place
                            Centre(LP);
                                             asset in, no related transaction
                            Yantai
                                             with obvious unfairness exists ;
                            Zhaoxuan
                                             2.After this reorganization, I or
                            Yuantai
                                             the enterprise under my
                            Jiuding
                                             possession will avoid and reduce
                            Venture                                                                    Strict
                                             the related transaction with listed March
                            Investment                                                       Long-term perform
                                             company as much as possible. As 19,2015
                            Centre                                                                     ing
                                             for any unavoidable or reasonable
                            (LP);Suzh
                                             related transaction, I or the
                            ou Tianyao
                                             enterprise under my possession
                            Zhongshan
                                             will sign the agreement according
                            Jiuding
                                             to laws and fulfill the lawful
                            Investment
                                             procedure, and fulfill relevant
                            Centre(LP);
                                             approval procedure for internal
                            Jiaxing Jiahe
                                             decision-making and timely fulfill
                            Jiuding
                                             the obligation of disclosing
                            Investment
                                             information according to law,
                            Centre(LP)
                                             following relevant laws,
                                             regulations, other normative
                                             documents and articles of listed
                                             company, which is to guarantee


                                                                                                                43
Sino Great Wall Co., Ltd.                                                                   2015 Annual Report


                                          the fairness and reasonableness in
                                          related transaction pricing, to
                                          guarantee the fairness of
                                          transaction condition and to
                                          guarantee not to utilize the related
                                          transaction to illegally transfer the
                                          capital and profit of listed
                                          company, and not to utilize this
                                          transaction to engage in any
                                          behaviors which will cause any
                                          losses to listed company or other
                                          shareholder’s legitimate rights.
                                          Once I violate the above promises
                                          and cause losses to the listed
                                          company, I will compensate the
                                          listed company for the losses
                                          caused by the this matter.

                                          During the assets reorganization,
                                          the house property and land
                                          without property certificate in the
                                          disposed assets within the plant
                                          area of Kuixin Community of
                                          Kuichong Street of Longgang
                                          District and the expected
                                          compensations, as well as the
                                          expected compensations
                                          concerning to the regaining of
                                          plots planned as schools within
                                          the right of land use of Nanyou
                            Union
                                          Industrial Park of Nanshan                                      Strict
                            Development                                           March
                                          District have not been recorded in                    Long-term perform
                            Group Co.,                                            19,2015
                                          the assessment. Therefore, Union                                ing
                            Ltd.
                                          Group promises that after the
                                          reorganization, if Union or a third
                                          party appointed by Union receives
                                          compensations or incomes related
                                          toabove-mentioned disposed
                                          assets which are house property
                                          and land without property
                                          certificate as well as regaining of
                                          plots planned as schools, Union
                                          will return the benefits to Victor
                                          Onward Holdings, in 10 working
                                          days since the collection. The


                                                                                                                   44
Sino Great Wall Co., Ltd.                                                                 2015 Annual Report


                                          actual costs and fees during the
                                          possession of the house property
                                          and land and the paid as well as
                                          the unpaid but necessary costs and
                                          fees for the reception of the
                                          above-mentioned benefits for
                                          Union Group or its third party will
                                          be deducted from the income. The
                                          specific benefits and payable costs
                                          and fees should be confirmed
                                          jointly by Union Group and Victor
                                          Onward Holdings based on the
                                          actual situations. (Notes:On June
                                          25, 2015,All shareholders of
                                          Victor Onward Holdings, Union
                                          Group and Sino Great Wall
                                          Signed supplementary agreement,
                                          and specified that the land and
                                          houses without ownership
                                          certificate of Victor Onward
                                          Holdings located at the factory
                                          area of Kuixin community of
                                          Kuichong street office of
                                          Longgang district (the land area is
                                          about 50,000 square meters, the
                                          built-up area of houses is about
                                          25,000 square meters, among
                                          them about 18,000 square meters
                                          of buildings at built-up area are
                                          within the plan of removal and
                                          collection of government,
                                          hereinafter referred as
                                          “undocumented property) still
                                          belongs to Victor Onward
                                          Holdings. And the benefits and
                                          risks of the real estate without
                                          certificate are enjoyed and
                                          assumed by Victor Onward
                                          Holdings.”

                                          According to the Term 5.5.3 of
                            Union
                                          Agreement on Major Asset                                      Strict
                            Development                                         March
                                          Replacement and Asset Purchase                      Long-term perform
                            Group Co.,                                          19,2015
                                          Through Issuing Shares                                        ing
                            Ltd
                                          (hereinafter referred to as


                                                                                                                 45
Sino Great Wall Co., Ltd.                                         2015 Annual Report


                            Agreement) signed on October 13,
                            2014 by the company and all
                            shareholders of Victor Onward
                            Co. Ltd.. and Sino Great Wall,
                            Victor Onward Holdings should
                            obtain the letter of approval
                            concerning the transferred debts
                            of the disposed assets from the
                            creditor (including the guarantee,
                            similarly hereinafter) before the
                            date of assets delivery. In the
                            situation of debts on Victor
                            Onward Holdings due to the
                            absence of creditor’s consent, the
                            company or the third party
                            appointed by the company is in
                            charge of paying off debts or
                            reaching agreement on the
                            solution with the creditor. When
                            there are losses caused by
                            improper solutions of the
                            company or the third party
                            appointed by the company, the
                            company or the third party
                            appointed by the company will
                            fully compensate for the caused
                            losses of Victor Onward Holdings
                            in 5 working days after receiving
                            the notice. According to the Term
                            5.5.4 of Agreement, after the date
                            of assets delivery, any
                            compensations, obligations of
                            payment and penalties caused by
                            disposed assets as well as
                            unsettled disputes in Victor
                            Onward Holdings will be
                            undertaken and solved by the
                            company or the third party
                            appointed by the company, and
                            Victor Onward Holdings assumes
                            no responsibility. When there are
                            losses caused by it, the company
                            or the third party appointed by the
                            company will fully compensate


                                                                                       46
Sino Great Wall Co., Ltd.                                          2015 Annual Report


                            for the caused losses of Victor
                            Onward Holdings in 5 working
                            days after receiving the notice.
                            According to the Term 5.6.1 of
                            Agreement and based on the
                            principle of “staff arrangement
                            according to the assets”, the labor
                            relations, social insurance
                            relations including pension,
                            medical treatment,
                            unemployment, working injury
                            and maternity, and other liable
                            welfare and salary of all the staff
                            in Victor Onward Holdings.
                            (including but not limited to
                            on-post Shenzhen Victor Onward
                            Textile Industrial Co., Ltd. The
                            Third Quarterly Report 2015. 25
                            employees, employees awaiting
                            job assignments, retired
                            employees, retained employees
                            with suspend salary, transferred
                            employees, and temporary
                            employees, etc) will be transferred
                            to the company or the third party
                            appointed by the company.
                            Compensations or related matters
                            (if any) due to the termination of
                            labor relationship in advance with
                            Victor Onward Holdings, the
                            company or the third party
                            appointed by the company will be
                            in charge of the payment. The
                            company promises that for the
                            losses caused by matters such as
                            the above-mentioned debt
                            transfers of disposed assets,
                            personnel arrangement, unsettled
                            disputes, potential debts, payment
                            obligations and penalties, the
                            company or the third party
                            appointed by the company will
                            fully compensate for the losses of
                            Victor Onward Holdings due to


                                                                                        47
Sino Great Wall Co., Ltd.                                                                   2015 Annual Report


                                                      the above-mentioned matters
                                                      based on the Agreement in cash.

Commitments make in initial public
                                         No    No     No                                         No       No
offering or re-financing

Equity incentive commitment              No    No     No                                         No       No

Other commitments for medium and
                                         No    No     No                                         No       No
small shareholders

Completed on time(Y/N)                   Yes

If the commitments is not fulfilled on
time, shall explain the specify reason No
and the next work plan


2.The existence of the company's assets or projects earnings forecasts and earnings reporting period is still
in the forecast period, the company has assets or projects meet the original profit forecast made and the
reasons explained

□Applicable √ Not applicable

IV.Particulars about the non-operating occupation of funds by the controlling shareholder

□ Applicable √ Not applicable
No non-operating occupation from controlling shareholders and its related party in the period.

V.Explanation of the Supervisory Committee and Independent Directors (If applicable)on the Qualified
Auditor’s Report Issued by the CPAs.

□ Applicable √ Not applicable

VI.Explain change of the accounting policy, accounting estimate and measurement methods as compared
with the financial reporting of last year.

√Applicable □Not applicable

VII.Explain retrospective restatement due to correction of significant accounting errors in the reporting
period

□Applicable √ Not applicable
No major accounting errors within reporting period that needs retrospective restatement for the Company in the
period.

VIII.Explain change of the consolidation scope as compared with the financial reporting of last year.

√Applicable □Not applicable

                                                                                                                 48
Sino Great Wall Co., Ltd.                                                                            2015 Annual Report


In 2015, the company had completed the major asset replacement and the share-issuing to purchase the asset and
raise matching funds, which swapped out the company’s original total assets and liabilities, swapped in the
equivalent part of the equity of the Sino Great Wall International Engineering Co., Ltd which was held by all the
shareholders of Sino Great Wall International Engineering Co., Ltd. Sino Great Wall International Engineering
Co., Ltd shall be included in the consolidation scope in 2015.

IX. Engagement/Disengagement of CPAs

CPAs currently engaged
Name of the domestic CPAs                            BDO China Shu Lun Pan Certified Public Accountants LLP

Remuneration for domestic accounting firm
                                                                                                                          150
(RMB’0000)

Continuous life of auditing service for domestic
                                                     1
accounting firm

Name of domestic CPA                                 Liao Jiahe, Xu Shibao

Name of the foreign CPAs(If any)                   No

Remuneration for foreign accounting firm
                                                                                                                            0
(RMB’0000)(If any)

Continuous life of auditing service for foreign
                                                     No
accounting firm

Name of foreign CPA                                  No

Has the CPAs been changed in the current period
√ Yes □No
Whether to change the accounting firm during the audit period
□ Yes √No
To replace the accounting firm to perform the examination and approval procedures
√ Yes □ No

Detailed description of the appointment, alteration of the accounting firm
1. The company’s audit committee of the board of directors fully acquainted BDO China Shu Lun Pan Certified
Public Accountants LLP , then agreed to change the accounting firm, engaged the BDO China Shu Lun Pan
Certified Public Accountants LLP as the audit agency for the company’s 2015 annual financial report, and the
proposal had been submitted to the company’s board of directors for the approval.
2. The Proposal on Alteration and Engaging of the 2015 Annual Audit Agency was examined and approved in the
5th meeting of the seventh session board of directors convened on March 14, 2016, which agreed to engage the
BDO China Shu Lun Pan Certified Public Accountants LLP as the company’s 2015 annual audit agency.
3. Alteration and engaging of the audit agency had been prior approved by the company’s independent directors
and the independent directors issued an independent opinion of assent on the item, reckoned that: BDO China Shu
Lun Pan Certified Public Accountants LLP possessed the qualification to audit in securities-related business and
possessed years of experiences and the ability to provide audit services for listed companies, so that shall meet the
requirements by the company’s financial audit and the related special audit work, and the accounting firm is able
to carry out independent financial situation audit to the company. Therefore it was agreed the alteration and the

                                                                                                                            49
Sino Great Wall Co., Ltd.                                                                    2015 Annual Report


engaging of BDO China Shu Lun Pan Certified Public Accountants LLP as the company’s 2015 annual audit
agency, and agreed to submit the Proposal to the general shareholder meeting for approval.(Please see its details as
the Prior Approval Opinion on the Alteration and Engaging of the Company’s 2015 Annual Audit Agency, the
Independent Opinion on the Proposals Related to the 5th Meeting of the Company’s 7th Session Board of
Directors from Independent Directors disclosed on www.cninfo.com.cn,)
4. The Proposal on Alteration and Engaging of the 2015 Annual Audit Agency was examined and approved in the
company’s 2016 first extraordinary general shareholder meeting convened on March 30, 2016, agreed the
alteration and engaging the BDO China Shu Lun Pan Certified Public Accountants LLP as the company’s 2015
annual audit agency.
Description of the CPAs, financial adiver or sponsor engaged for intemal control auditing
√Applicable □Not applicable
In the current year, the company engaged BDO China Shu Lun Pan Certified Public Accountants LLP as the
internal control audit accounting firm, during the period, the company totally pays RMB 1million for the internal
control audit expenses.
In the year, due to the item of the major asset restructuring, the company engaged Huatai Securities Co., Ltd as the
financial adviser, during the period, a total of RMB15 million was paid for financial advisory fees and
underwriting fees.

X.Situation of Facing Listing Suspension and Listing Termination after the Disclosure of the Yearly Report

□Applicable √ Not applicable

XI.Bankruptcy reorganization

□Applicable √ Not applicable
No bankruptcy reorganization for the Company in reporting period.

XII.Significant lawsuits and arbitrations of the Company

□Applicable √ Not applicable
No significant lawsuits and arbitrations occourred in the reporting period.

XIII.Situation of Punishment and Rectification

□Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.

XIV.Credit Condition of the Company and its Controlling Shareholders and Actual Controllers

√Applicable □ Not applicable

During reporting period, there was no effective judgment of a court and large amount of debt maturity that the

company, its controlling shareholders and actual controller failed to perform or pay off.



                                                                                                                  50
Sino Great Wall Co., Ltd.                                                                          2015 Annual Report


XV.Implementation Situation of Stock Incentive Plan of the Company, Employee Stock Ownership Plan or
Other Employee Incentive Measures

√Applicable □ Not applicable
The second meeting of the seventh board of directors, the second meeting of the seventh board of supervisors and
the 2015 third extraordinary general shareholder meeting were respectively convened by the company on Nov 5,
2015 and Nov 23, 205, at which the Proposal on the First Phase of Employee Stock Ownership Plan (draft) of
Shenzhen Victor Onward Textile Industrial Co., Ltd was examined and approved.
Please refer to the published on November 7, 2015, the securities times, the Hong Kong Commercial Daily and
cninfo (www.cninfo.com.cn) on the relevant announcement.
On December 24, 2015, the company as the asset trustor of the ESOP asset management plan, together with the
asset manager- Xingzheng Securities Asset Management Co.,Ltd and the asset trustee- China Everbright Bank
Co.,Ltd signed the contract of No.57 Xing Zheng Zi Guan Xin Zhong Assets Management Contract of the
Collection Assets Management Plan which concretely explained and stipulated the information included the basic
information of the collection plan, participating in and withdrawal of the collection plan, guarantee, classification
of the collection plan, the management methods and the management rights of the customer assets in the
collection plan, the establishment of the collection plan, the expenses of the collection plan, the proceeds and its
distribution of the collection plan, investment philosophy and investment strategy, investment decision-making
and risk control, restrictions and prohibited behaviors of investment, information disclosure of the collection plan,
transfer of the share of the collection plan, non-transaction transfer ownership and freezing and so on.
Please refer to the published on December 29, 2015, the securities times, the Hong Kong Commercial Daily and
cninfo (www.cninfo.com.cn) on the relevant announcement.
As of January 7, 2016, the company’s first phase of the employee stock ownership plan has completed the
share-purchasing by means of buying in the secondary security market, of which the average position price is
RMB44.7578 per share, the total purchase quantity is 833,187 shares which account for 0.1864% of the
company's total share capital, and the total turnover is RMB37,291,630. The lock-up period of the shares
purchased under the plan is 12 months commenced from the date of this announcement.
Please refer to the published on January 8, 2016, the securities times, the Hong Kong Commercial Daily and
cninfo (www.cninfo.com.cn) on the relevant announcement.

XVI.Material related transactions

1. Related transactions in connection with daily operation

√Applicable □ Not applicable

                                                                                Whethe
                                                                      Trading
                                    Principl                                      r over
                                                                           limit                  Market              Index
                          Subjects e of                                             the
                                                      Amount                                      price of              of
                            of the pricing                     Ratio in approve          Way of            Date of
 Related Relation Type of                    Price of of trade                                    similar           informa
                           related    the                      similar           approve paymen            disclosu
 parties  ship      trade                     trade RMB0’                                         trade               tion
                          transacti related                     trades       d              t                 re
                                                        000                                       availabl           disclos
                             ons transacti                                           d               e                  ure
                                      ons                               (RMB
                                                                                 limited
                                                                        ’0000)
                                                                                  or not



                                                                                                                          51
Sino Great Wall Co., Ltd.                                                                                  2015 Annual Report



                                                                                    (Y/N)
               The
             compan
             y where
               the
Qinghai                 Procure                                                               Quarterl
             Compan
 Heyi                   ment of Material Market Market                                        y          Market
                y’s                                          4,636.5   3.11%       No
 Trade                  goods/s     Goods price       price                                   settleme price
             director
 Co., Ltd.              ervices                                                               nt
              holds
             the post
             of legal
              person

               The
             compan
             y where
               the
Qianghai                Procure                                                               Quarterl
             Compan
 Heyi                   ment of Consulta Market Market                                        y          Market
                y’s                                           1,187 55.42%         No
 Mining                 goods/s nt fee      price     price                                   settleme price
             director
 Co., Ltd.              ervices                                                               nt
              holds
             the post
             of legal
              person

             5% or
Jiuxin       more
Investme sharehol
                        Sale of                                                               Settlem
nt           ders are              Decorati Market Market                                                Market
                        goods /                                5,800    1.45%       No        ent by
Managem subject                    on items price     price                                              price
                        services                                                              contract
ent Co.,     to the
Ltd.         same
             control

             5% or
             more
Beijing
             sharehol
Baolilai                Sale of                                                               Settlem
             ders are              Decorati Market Market                                                Market
Technolo                goods /                                  800    0.20%       No        ent by
             subject               on items price     price                                              price
gy Co.,                 services                                                              contract
             to the
Ltd.
             same
             control

                                                              12,423.
Total                                            --      --              --     0        --        --       --      --      --
                                                                   5

Details of any sales return of a large      No



                                                                                                                                 52
Sino Great Wall Co., Ltd.                                                                                             2015 Annual Report


amount

Give the actual situation in the report
period where a forecast had been
made for the total amounts of routine        No
related-party transactions by type to
occur in the current period(if any)

Reason for any significant difference
between the transaction price and the        Not applicable
market refernce price (if applicable)




2. Related-party transactions arising from asset acquisition or sold

□Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in reporting period.

3. Related-party transitions with joint investments

□Applicable √ Not applicable
No main related transactions of joint investment outside for the Company in reporting period.

4. Credits and liabilities with related parties

√Applicable □Not applicable
Was there any non-operating credit or liability with any related party?
√Applicable □Not applicable
Creditor's rights of related parties

                                                                         Amount
                                             Whether                     newly        Amount                          Interest in
                                                                                                                                      Ending
                                             there is non     Opening    increased in repaid in the                      the
  Related     Relationshi Causes        of                                                                                           balance
                                             operating      balance(RM the            reporting       Interest rate   reporting
   parties          p       formation                                                                                               (RMB’0000
                                             funds            B’0000)   reporting    period(RM                       period(RM
                                                                                                                                        )
                                             occupied                    period(RM B’0000)                            B’0000)
                                                                         B’0000)

Indluence of the related
Creditor's rights upon
the company’s operation Not applicable
results and financial
position.



Due to related parties



                                                                                                                                               53
Sino Great Wall Co., Ltd.                                                                                            2015 Annual Report


                                                                 Amount
                                                   Amount
                                                                 repaid in
                                                   newly
                                      Opening                    the                            Interest in the
                                                   increased
 Related Relation Causes            of balance(                  reportin                         reporting       Ending balance
                                                   in      the                 Interest rate
  parties      ship     formation     RMB’00                    g                             period(RMB’00      (RMB’0000)
                                                   reporting
                                         00)                     period(R                            00)
                                                   period(R
                                                                 MB’000
                                                   MB’0000)
                                                                 0)

             Controll
               ing
Chen Lue                                       0 78,018.76            39,990                                              38,028.76
             sharehol
               der

 Xian Zhi
                 ??                            0        17,500        17,500                                                        0
   Juan
               The
             compan
             y where
               the
 Qinghai
             Compan
   Heyi
               y’s                            0         7,000         7,000                                                        0
  Trade      director

 Co., Ltd.    holds
             the post
             of legal
             person

  Indluence of the
  related rights of
     credit and
liabilities upon the      The Company’s controlling shareholder and the related party’s financial support of the Company
    company’s                                                           benefits the Company’s operation and future development
 operation results
   and financial
     position.


5. Other significant related-party transactions

□Applicable √ Not applicable

No other material related transactions.




                                                                                                                                          54
Sino Great Wall Co., Ltd.                                                  2015 Annual Report


XVII.Particulars about significant contracts and their fulfillment

1. Particulars about trusteeship, contract and lease

(1) Trusteeship

□Applicable √ Not applicable
No trusteeship, contract or leasing for the Company in reporting period.

(2) Contract

□ Applicable √ Not applicable
No any contract for the Company in the reporting period.

(3) Lease

□Applicable √ Not applicable
No any lease for the Company in the reporting period..

2.Guarantees

□Applicable √ Not applicable
No any guarantees for the Company in the reporting period..

3.Situation of Entrusting Others for Managing Spot Asset

(1)Situation of Entrusted Finance

□ Applicable √ Not applicable
No any Entrusted Finance for the Company in the reporting period..

(2)Situation of Entrusted Loans

□ Applicable √ Not applicable
No any Entrusted loans for the Company in the reporting period..

4. Other significant contract

□ Applicable √ Not applicable

XVIII.Explanation about other significant matters

□ Applicable √ Not applicable



                                                                                                55
Sino Great Wall Co., Ltd.                                                                 2015 Annual Report


No any Explanation about other significant matters

XIX.Major issues of subsidiary

□ Applicable √ Not applicable

XX.Social responsibility

□ Applicable √ Not applicable

XXI.Information about the corporate bonds

Whether the listed company failed to honor the corporate bonds public issued and listed on the Stock Exchange in
due or undue at the approval date of the annual report
No




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Sino Great Wall Co., Ltd.                                                                                      2015 Annual Report




            VI. Change of share capital and shareholding of Principal

                                                          Shareholders

Ⅰ.Changes in share capital

1. Changes in share capital

                                                                                                                                  In shares

                                  Before the change                    Increase/decrease(+,-)                      After the Change

                                 Amount       Proportio                         Capitaliza
                                                 n                               tion of
                                                           Share       Bonus                                                     Proportio
                                                                                common       Other       Subtotal    Quantity
                                                          allotment    shares                                                       n
                                                                                 reserve
                                                                                  fund

1.Shares with conditional                                 277,764,2                                      277,880,6 277,880,6
                                                                                             116,400                             100.00%
subscription                                                     26                                            26          26

                                                          277,764,2                                      277,880,6 277,880,6
3.Other domestic shares                                                                      116,400                               62.18%
                                                                 26                                            26          26

Including :Domestic Legal                                99,888,34                                      99,888,34 99,888,34
                                                                                                                                   22.35%
person shares                                                      8                                            8           8

Domestic natural person                                   177,875,8                                      177,992,2 177,992,2
                                                                                             116,400                               39.83%
shares                                                           78                                            78          78

II.Shares with unconditional 169,142,3                                                                               169,025,9
                                               100.00%             0                         -116,400     -116,400                 37.82%
subscription                           56                                                                                  56


                                 99,720,45                                                                           99,604,05
1.Common shares in RMB                          58.96%                                       -116,400     -116,400                 22.29%
                                          3                                                                                 3

2.Foreign shares in domestic     69,421,90                                                                           69,421,90
                                                41.04%                                                                             15.53%
market                                    3                                                                                 3

                                 169,142,3                277,764,2                                      277,764,2 446,906,5
III. Total of capital shares                   100.00%                                               0                           100.00%
                                       56                        26                                            26          82

Reasons for share changed
√ Applicable □Not applicable

In 2015, the company completed the major asset restructuring and the issue of shares to objects such as Chen Lue to
purchase assets and raise matching funds, and the company’s share capital changed.
Approval of Change of Shares



                                                                                                                                         57
Sino Great Wall Co., Ltd.                                                                                             2015 Annual Report


√ Applicable □Not applicable

On July 23, 2015, the CSRC issued the Reply of the Major Asset Restructuring and the Issue of Shares to Objects
such as Chen Lue to Purchase Assets and Raise Matching Funds by Shenzhen Victor Onward Textile Industrial
Co., Ltd-the 2015-No.1774 Zheng Jian Xu Ke document which approved the issuer to issue shares to 17
shareholders of Sino Great Wall Company such as Chen Lue for purchasing assets and approved the issuer
non-publicly issue no more than 25,914,633 new shares to raise the matching funds; the Reply is effective in 12
months commenced from its issuing date.
Ownership transfer of share changes
√ Applicable □Not applicable
On October 14, 2015, the company completed the share-issuing of a total of 251,849,593 shares issued to 17
transaction objects such as Chen Lue for purchasing related assets, of which the issuing price is RMB 9.84 per
share. After the completion of the assets swap, the company's share capital changed to 420,991,949 shares.
On November 27, 2015, the company completed the non-public share-issuing to purchase the assets and raise
matching funds. The quantity of the non-public share-issuing for raising matching funds is 25,914,633 shares and
the issue price is RMB9.84 per share. After the completion of the non-public share-issuing, the company's share
capital changed to 446,906,582 shares.
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to
common shareholders of Company in latest year and period
√ Applicable □Not applicable
The company completed the major assets restructuring in 2015, thus the company’s share capital
changed to 446,906,582 shares from 169,142,356 shares. Due to the good quality of the assets
swapped in, the company’s earnings per share and the net assets per share in the recent year and the
period were significantly increased.
Other information necessary to disclose for the company or need to disclosed under requirement from security
regulators
□ Applicable √ Not applicable

2. Change of shares with limited sales condition

□Applicable√Not applicable
√ Applicable □Not applicable
                                                                                                                                     In shares

                                                                Number of
                                             Number of                           Restricted Shares                              Date of
                     Initial Restricted                         Increased                               Reason for
Shareholder Name                            Unrestricted                         in the End of the                             Restriction
                            Shares                           Restricted Shares                       Restricted Shares
                                          Shares This Term                            Term                                     Removal
                                                                This Term

                                                                                                     The major asset

                                                                                                     restructuring and
Chen Lue                                                          138,248,490         138,248,490 the         issue      of October 14,2018

                                                                                                     shares              to

                                                                                                     purchase         assets


                                                                                                                                             58
Sino Great Wall Co., Ltd.                                                  2015 Annual Report



                                                          and               raise

                                                          matching funds

                                                          The major asset

                                                          restructuring and

                                                          the      issue      of
                                                                                    November
Chen Lue                        14,735,772   14,735,772 shares                to
                                                                                    27,2018
                                                          purchase         assets

                                                          and               raise

                                                          matching funds

                                                          The major asset

                                                          restructuring and
Shanghai
Financial                                                 the      issue      of
Development                 0   20,079,080   20,079,080 shares                to October 14,2016
Investment
                                                          purchase         assets
Fund(LP)
                                                          and               raise

                                                          matching funds

                                                          The major asset

                                                          restructuring and

                                                          the      issue      of
He Feiyan                   0   14,421,173   14,421,173 shares                to October 14,2018

                                                          purchase         assets

                                                          and               raise

                                                          matching funds

                                                          The major asset
Jiutai Fund-Bank
                                                          restructuring and
of
Communications                                            the      issue      of
                                                                                    November
-Jiutai Huitong            0   11,178,861   11,178,861 shares                to
                                                                                    27,2016
No.2 specific
                                                          purchase         assets
customer asset
management plan                                           and               raise

                                                          matching funds

Wuxi Hengtai                                              The major asset

Jiuding Assets                                            restructuring and
                            0   10,087,004   10,087,004                             October 14,2016
Management
                                                          the      issue      of
Centre(LP)
                                                          shares              to



                                                                                                  59
Sino Great Wall Co., Ltd.                                                2015 Annual Report



                                                        purchase         assets

                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and
Foshan Haihui
                                                        the      issue      of
Heying Venture
                            0   10,039,540   10,039,540 shares              to October 14,2016
Investment
Partnership(LP)                                       purchase         assets

                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and
Jiangxi Taihao
                                                        the      issue      of
Venture
                            0    8,366,284    8,366,284 shares              to October 14,2016
Investment
Centre(LP)                                             purchase         assets

                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and
Yantai
 ZhaoxuanYuantai                                        the      issue      of
 Jiuding Venture            0    8,353,354    8,353,354 shares              to October 14,2016
 Investment
                                                        purchase         assets
 Centre(LP)
                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and
Suzhou Tianyao
                                                        the      issue      of
Zhongshan Jiuding
                            0    7,551,634    7,551,634 shares              to October 14,2016
Investment
Centre(LP)                                              purchase         assets

                                                        and               raise

                                                        matching funds

Jiaxing Jiahe                                           The major asset
Jiuding Investment          0    7,499,912    7,499,912 restructuring and October 14,2016
Centre(LP)
                                                        the      issue      of



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Sino Great Wall Co., Ltd.                                                2015 Annual Report



                                                        shares              to

                                                        purchase         assets

                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and
Beijing Xinhe
                                                        the      issue      of
Taida Investment
                            0   6,693,140   6,693,140 shares                to October 14,2016
Management
Centre(LP)                                              purchase         assets

                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and

                                                        the      issue      of
Wu Chenxi                   0   5,019,770   5,019,770 shares                to October 14,2016

                                                        purchase         assets

                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and
Beijing Longbai
                                                        the      issue      of
Huirun Investment
                            0   5,019,770   5,019,770 shares                to October 14,2016
Management
Centre(GP)                                              purchase         assets

                                                        and               raise

                                                        matching funds

                                                        The major asset

                                                        restructuring and

                                                        the      issue      of
Zhu Lijun                   0   3,346,514   3,346,514 shares                to October 14,2016

                                                        purchase         assets

                                                        and               raise

                                                        matching funds
Shenzhen
                                                        The major asset
Septwolves                  0   3,346,514   3,346,514                             October 14,2016
Shenglian Equity                                        restructuring and


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Sino Great Wall Co., Ltd.                                                                                             2015 Annual Report


Investment Fund
                                                                                                     the      issue      of
Co., Ltd.
                                                                                                     shares              to

                                                                                                     purchase         assets

                                                                                                     and               raise

                                                                                                     matching funds

                                                                                                     The major asset

                                                                                                     restructuring and

                                                                                                     the      issue      of
Feng Renyi                             0                             1,673,255           1,673,255 shares                to October 14,2016

                                                                                                     purchase         assets

                                                                                                     and               raise

                                                                                                     matching funds

                                                                                                     The major asset

                                                                                                     restructuring and
Shenzhen Jiayuan
                                                                                                     the      issue      of
 Qihang Venture
                                       0                             1,673,255           1,673,255 shares                to October 14,2016
 Investment
 Company(LP)                                                                                         purchase         assets

                                                                                                     and               raise

                                                                                                     matching funds

                                                                                                     The major asset

                                                                                                     restructuring and

                                                                                                     the      issue      of
He Sen                                 0                               430,904             430,904 shares                to October 14,2016

                                                                                                     purchase         assets

                                                                                                     and               raise

                                                                                                     matching funds
Total                                  0                    0      277,764,226         277,764,226             --                    --



II.Issuing and listing

1.Explanation of the Situation of the Security Issue(No Preferred Shares) in the Report Period
√ Applicable □ Not applicable


Description       of                   Issuing price(Or                                              Quantity             Expiration date of
                        Issuing date                        Issuing quantity     Listing date
stock       and   its                      interest rate)                                        approved for                  transaction



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Sino Great Wall Co., Ltd.                                                                      2015 Annual Report


Derivative                                                                           listing
securities

Stocks

Restricted
                                  9.84Yuan/share       251,849,593 October 14,2015   251,849,593
circulating share

Restricted                                                           November
                                  9.84/Yuan/share       25,914,633                    25,914,633
circulating share                                                    27,2015

Convertible Corporate Bonds, Detachable Convertible Bond and Corporate Bonds

Other derivative securities

Notes
On July 23, 2015, the CSRC issued the Reply of the Major Asset Restructuring and the Issue of Shares to Objects
such as Chen Lue to Purchase Assets and Raise Matching Funds by Shenzhen Victor Onward Textile Industrial
Co., Ltd-the 2015-No.1774 Zheng Jian Xu Ke document which approved the issuer to issue shares to 17
shareholders of Sino Great Wall Company such as Chen Lue for purchasing assets and approved the issuer
non-publicly issue no more than 25,914,633 new shares to raise the matching funds; the Reply is effective in 12
months commenced from its issuing date.
According to Acceptance Confirmation of Share Registration Application and Register of Securities Holders (the
consolidated register of the registered and shareholders shall received in their account) issued by China Securities
Depository and Clearing Co., Ltd Shenzhen Branch on September 24, 2015, the company’s application documents
of the new share registration of the non-public share-issuing have been in the process of acceptance and the
underlying shares will listed in the Register of shareholders of the listed company after registration to account.
The quantity of the new shares of the non-public share-issuing by the listed company is 251,849,593 shares (all
are condition-limited for sales). After the completion of the non-public share-issuing, the total share capital of the
listed company is 420,991,949 shares.
According to Acceptance Confirmation of Share Registration Application and Register of Securities Holders (the
consolidated register of the registered and shareholders shall received in their account) issued by China Securities
Depository and Clearing Co., Ltd Shenzhen Branch on November9, 2015, the company’s application documents of
the new share registration of the non-public share-issuing have been in the process of acceptance and the
underlying shares will listed in the Register of shareholders of the listed company after registration to account.
The quantity of the new shares of the non-public share-issuing by the listed company is 25,914,633 shares (all are
condition-limited for sales). After the completion of the non-public share-issuing, the total share capital of the
listed company is 446,906,582 shares.

2.Change of asset and liability structure caused by change of total capital shares and structure

√ Applicable □ Not applicable
Before October 14, 2015, the share capital of the company was 169,142,356 shares, of which Union Holdings held
43,141,032 shares, taking for 25.51% of the company’s share capital, thus Union Holdings was the largest
shareholder and the controlling shareholder. Union Development held 5,681,089 shares, taking for 3.36% of the
company’s share capital; Rich Crown Investment Co., Ltd. whose 99.99% stake held by Union Development held
6,114,556 shares, taking for 3.62% of the company’s share capital. Due to Union Development held 31.32% stake
of Union Holdings, thus Union Development was the controlling shareholder of Union Holdings. Therefore, the


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Sino Great Wall Co., Ltd.                                                                                              2015 Annual Report


equity proportion of the company’s share capital directly and indirectly held by Union Development was 32.48%,
and Union Development was the company’s actual controller.
  On October 14, 2015, the company completed the share-issuing of a total of 251,849,593 shares issued to 17
transaction objects such as Chen Lue for purchasing related assets, of which the issuing price is RMB 9.84 per
share,of which Chen Lue subscribed 138,248,490 shares of the newly increasing shares., After the completion of
the assets swap, the company's share capital changed to 420,991,949 shares.. of which Mr. Chen Lue holds
138,340,890 shares, taking for 32.86% of the company’s total share capital, The largest shareholder of the
company was changed to Mr. Chen Lue from Union Holdings and the actual controller of the company was
changed to Mr. Chen Lue from Union Development, henceforth, Mr. Chen lue has become the new controlling
shareholder and the actual controller of the company (Note: due to the performance of the commitment of
increasing holding shares, Mr. Chen Lue increased the holding shares by 92,400 shares through bidding trading on
Shenzhen Stock Exchange on July 7, 2015).
  On Nov 27, 2015, the company completed the non-public share-issuing to purchase the assets and raise the
matching funds. The total share quantity of the non-public share-issuing for raising funds is 25,914,633 shares,
with issuing price of RMB 9.84 per share, of which Chen Lue subscribed 14,735,772 shares of the newly
increasing shares. After completing the non-public share-issuing, the company’s total share capital shall be
changed to 446,906,582 shares, of which Mr. Chen Lue holds 153,076,662 shares, taking for 34.25% of the
company’s total share capital, remained as the company’s actual controlling shareholder and the actual controller.

3.About the existing employees’ shares


□Applicable√Not applicable



III.Shareholders and actual controlling shareholder

1. Number of shareholders and shareholding


                                                                                                                                      In Share



                                                                          The total number o                   Total
Total number                         Total
                                                                          f preferred shareho                  preferred shareh
of common                            shareholders at
                                                                          lders voting rights                  olders at the end
shareholders at                      the end of the
                            15,008                                 26,580 restored at period-e               0 of the month                 0
the end of the                       month from the
                                                                          nd                                   from the date of
reporting                            date of disclosing
                                                                           (if any)(See                        disclosing the
period                               the annual report
                                                                          Notes 8)                             annual report

                                        Shareholding of shareholders holding more than 5% shares

                                                          Number                  Amount        Amount     Number of share pledged/frozen
                                             Proportio                Changes
                                                          of shares                   of          of
                        Nuture of              n of                       in
   Shareholders                                            held at                restricted un-restrict
                       shareholder            shares                  reporting                            State of share          Amount
                                                           period                  shares    ed shares
                                             held(%)                 period
                                                            -end                     held        held



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Sino Great Wall Co., Ltd.                                                                               2015 Annual Report


                     Domestic Natural               153,136,4           153,098,4
Chen Lue                                   34.27%                                     38,050 Mortgage                90,621,209
                     person                               62                   12

                     Domestic Non-
Union Holdings                                      43,141,03                       43,141,03
                     State-owned legal      9.65%                               0
Co., Ltd.                                                  2                               2
                     person

STYLE-SUCCESS Foreign legal                         24,466,02                       24,466,02
                                            5.47%                               0
LIMITED              person                                9                               9

Shanghai Financial
                     Domestic Non-
Development                                         20,079,08           20,079,08
                     State-owned legal      4.49%                                          0
Investment                                                 0                    0
                     person
Fund(LP)

                     Domestic Natural               14,421,17           14,421,17
He Feiyan                                   3.23%                                          0
                     person                                3                    3

Jiutai Fund-Bank
of
Communications-
                                                    11,178,86           11,178,86
Jiutai Huitong       Other                  2.50%                                          0
                                                           1                    1
No.2 specific
customer asset
management plan

Wuxi Hengtai
                     Domestic Non-
Jiuding Assets                                      10,087,00           10,087,00
                     State-owned legal      2.26%                                          0
Management                                                 4                    4
                     person
Centre(LP)

Foshan Haihui
Heying Venture       Domestic Non-
                                                    10,039,54           10,039,54
Imvestment           State-owned legal      2.25%                                          0
                                                           0                    0
Partnership(Limite person
d Partnership)

Jiangxi Taihao       Domestic Non-
Venture Investment State-owned legal        1.87% 8,366,284             8,366,284          0
Centre(LP)          person

Yantai
 ZhaoxuanYuantai Domestic Non-
 Jiuding Venture     State-owned legal      1.87% 8,353,354             8,353,354          0
 Investment          person
 Centre(LP)

Strategy investors or general legal      On July 23, 2015, the CSRC issued the Reply of the Major Asset Restructuring and the
person becomes top 10 shareholders       Issue of Shares to Objects such as Chen Lue to Purchase Assets and Raise Matching Funds
due to rights issued (if applicable)See by Shenzhen Victor Onward Textile Industrial Co., Ltd-the 2015-No.1774 Zheng Jian Xu
Notes 3)                                Ke document which approved the issuer to issue shares to 17 shareholders of Sino Great


                                                                                                                              65
Sino Great Wall Co., Ltd.                                                                                      2015 Annual Report


                                         Wall Company such as Chen Lue for purchasing assets. After the completion of the
                                         non-public share issuing, the above-said shareholders-Chen Lue, Shanghai Financial
                                         Development Investment Funds (Limited Partnership), He Fei Yan, Jiutai Asset
                                         Management- Bank of Communications- No.2 Jiutai Huitong Directional Issued Special
                                         Clients Asset Management Plan, Wuxi Hengtai Jiuding Asset Management Center (limited
                                         partnership), Foshan Haihui Double-win Venture Investment Partnership (limited
                                         partnership), Jiangxi Taihao Venture Investment Center (Limited partnership), Yantai
                                         Zhaoxuan Yuantai Jiuding Venture Investment Center (limited partnership) have become
                                         the company's top 10 shareholders.

                                         The largest shareholder of Mr. Chen Lue and the fifth largest shareholder of
Explanation on associated relationship
                                         Ms. He Feiyan aforesaid are persons acting in concern, whether the other
among the aforesaid shareholders
                                         shareholders have associated relations are unknown.
                                    Shareholding of top 10 shareholders of unrestricted shares

                                          Quantity of unrestricted shares held at the end of the               Share type
       Name of the shareholder
                                                            reporting period                          Share type        Quantity

                                                                                                   RMB Common
Union Holdings Co., Ltd.                                                             43,141,032                             43,141,032
                                                                                                   shares

                                                                                                   Foreign shares
                                                                                                   placed in
STYLE-SUCCESS LIMITED                                                                24,466,029                             24,466,029
                                                                                                   domestic
                                                                                                   exchange

                                                                                                   Foreign shares
                                                                                                   placed in
Rich Crown Investment Co., Ltd.                                                       6,114,556                              6,114,556
                                                                                                   domestic
                                                                                                   exchange

                                                                                                   RMB Common
Union Development Group Co., Ltd.                                                     5,681,089                              5,681,089
                                                                                                   shares

Liuzhou Jiali Real estate                                                                          RMB Common
                                                                                      3,600,000                              3,600,000
Development Co., ltd.                                                                              shares

Agricultural Bank of China-
                                                                                                   RMB Common
Changxin Domestic demand growth                                                       2,276,042                              2,276,042
                                                                                                   shares
Securities Investment Fund

                                                                                                   Foreign shares
                                                                                                   placed in
Zeng Ying                                                                             1,750,000                              1,750,000
                                                                                                   domestic
                                                                                                   exchange

ICBC-South Innovation Economy                                                                     RMB Common
                                                                                      1,738,302                              1,738,302
Mixed securities Investment fund                                                                   shares

                                                                                                   RMB Common
National social security fund 114                                                     1,697,784                              1,697,784
                                                                                                   shares



                                                                                                                                    66
Sino Great Wall Co., Ltd.                                                                                    2015 Annual Report


ICBC-Fuguo research select flexible
                                                                                                  RMB Common
configuration mixed Securities                                                        1,691,235                            1,691,235
                                                                                                  shares
Investment Fund

Explanation on associated relationship
or consistent action among the top 10
shareholders of non-restricted            The controlling shareholder of the above-mentioned largest shareholder Shenzhen Union
negotiable shares and that between the Holdings Ltd. and third shareholder Rich Crown Investment Co., Ltd.. Is Union
top 10 shareholders of non-restricted     Development Group Ltd.
negotiable shares and top 10
shareholders

                                          Among the shareholders above, Liuzhou Jiali Real estate Development Co., ltd. holds
Notes to the shareholders involved in
                                          3,600,000 shares of the Company through stock account with credit transaction and
financing securities (if any)(See Notes
                                          guarantee of Guohai Securities Co., Ltd.
4)


Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.

2.Controlling shareholder

Nature of Controlling Shareholders: Natural Person Holding
Type of Controlling Shareholders: Natural Person
                                                                               Whether to obtain the right of abode in other countries
                     Name                                 Nationality
                                                                                                      or regions

Chen Lue                                         China                         No

Main occoupations and duties                     Chairman and General Manager of the Company

Situation of domestic and abroad holding
                                                 None
listed companies in the reporting period.

Change of the actual controller in the reporting period
√ Applicable □Not applicable

Name of the new controlling shareholder                             Chen Lue

Date of change                                                      October 14,2015

                                                                    The Listing Announcement and Alteration Report on Newly
                                                                    Increasing Shares of Shenzhen Victor Onward Textile Industrial
Specify website query index
                                                                    Co., Ltd issued on Cninf, Securities Times and Hong Kong
                                                                    Commercial Daily.

Specify website disclosure date                                     October 13,2015




                                                                                                                                    67
Sino Great Wall Co., Ltd.                                                                                  2015 Annual Report


3.Information about the controlling shareholder of the Company

Actual controller nature:Domestic naturaol person
Actual controller type:Natural person
                                                                        Whether to obtain the right of abode in other countries or
                    Name                           Nationality
                                                                                                 regions

Chen Lue                                   China                        No

Main occoupations and duties               Chairman and General Manager of the Company

Situation of domestic and abroad holding
                                           None
listed companies in the part 10 years

Change of the actual controller in the reporting period
√ Applicable □Not applicable

Name of the new actual controller                                Chen Lue

Date of change                                                   October 14,2015

                                                                 The Listing Announcement and Alteration Report on Newly
                                                                 Increasing Shares of Shenzhen Victor Onward Textile Industrial
Specify website query index
                                                                 Co., Ltd issued on Cninf, Securities Times and Hong Kong
                                                                 Commercial Daily.

Specify website disclosure date                                  October 13,2015

Block Diagram of the ownership and control relations between the company and the actual controller




The actual controller controls the company by means of trust or managing the assets in other way

□Applicable √Not applicable


                                                                                                                                 68
Sino Great Wall Co., Ltd.                                                            2015 Annual Report


4.Other corporate shareholder holding over 10% of the Company’s shares

□Applicable √Not applicable
5.Situation of Share Limitation Reduction of Controlling Shareholders, Actual Controllers, Restructuring
Party and Other Commitment Subjects
√Applicable□Not applicable
No any Share Limitation Reduction of Controlling Shareholders, Actual Controllers, Restructuring Party and
Other Commitment Subjects in the reporting period




                                                                                                          69
Sino Great Wall Co., Ltd.                                                  2015 Annual Report




                                  VII. Situation of the Preferred Shares


□ Applicable √ Not Applicable
The Company had no preferred shares in the reporting period




                                                                                                70
Sino Great Wall Co., Ltd.                                                                                        2015 Annual Report




                        VIII. Information about Directors, Supervisors and Senior Executives



I. Change ein shares held by directors, supervisors and senior executives


                                                                                          Amount        Amount
                                                                            Shares        of shares of shares                       Shares
                                                                                                                        Other
                                                     Starting    Expiry     held at       increased decreased                       held at
                          Office                                                                                       changes
  Name      Positions                 Sex   Age      date of     date of     the           at the       at the                        the
                          status                                                                                      increase/d
                                                     tenure      tenure    year-begi reporting reporting                           year-gegi
                                                                                                                       ecrease
                                                                           n(share) period(sh period(sh                            n(share)
                                                                                            are)         are)

            Board
            chairman,                              October      October                   153,136,4                                153,136,4
Chen Lue                In office   Male      45                                      0                           0
            General                                29,2015      28,2018                            62                                       62
            Manager

Hu                                                 May          October
            Director    In office   Male      53                                      0             0             0                           0
Yongfeng                                           12,2000      28,2018

            Director,
             Deputy                                October      October
Li Erlong               In office   Male      40                                      0      3,000                0                    3,000
             General                               29,2015      28,2018
             Manager

            Director,
Liang       Deputy                                 October 29, October
                        In office   Male      46                                      0             0             0                           0
Rong        General                                2015         28,2018
            Manager

                                                   October      October
Wang Lei Director       In office   Male      52                                      0             0             0                           0
                                                   29,2015      28,2018

                                                   October 29, October
Ban Bin     Director    In office   Male      30                                      0             0             0                           0
                                                   2015         28,2018

            Independ
Tang                                               October      October
            ent         In office   Male      50                                      0             0             0                           0
Jianxin                                            29,2015      28,2018
            Director

            Independ
Zhang                                              October 29, October
            ent         In office   Male      52                                      0             0             0                           0
Yufeng                                             2015         28,2018
            Director

Jiang       Independ
                                                   October      October
Chonggua ent            In office   Male      40                                      0             0             0                           0
                                                   29,2015      28,2018
ng          Director

Dong        Chairman In office      Male      66 October 29, October                  0             0             0                           0


                                                                                                                                              71
Sino Great Wall Co., Ltd.                                                      2015 Annual Report


Binggen    of the                                2015       28,2018
           superviso
           ry
           committe
           e

Huang                                            October    October
           upervisor In office     Male     37                         0   0    0                   0
Shengde                                          29,2015    28,2018

Wu                                               October 29, October
           upervisor In office     Male     35                         0   0    0                   0
Xiaoming                                         2015       28,2018

           Deputy
Song                                             October    October
           General     In office   Female   43                         0   0    0                   0
Chenling                                         29,2015    28,2018
           Manager

Cui                                              October    October
           CFO         In office   Female   43                         0   0    0                   0
Hongli                                           29,2015    28,2018

           Secretary
Yang       to the                                October 29, October
                       In office   Female   44                         0   0    0                   0
Chunling board of                                2015       28,2018
           directors

           Vice
                       Office                    October    October
Ding Yue Board                     Male     57                         0   0    0                   0
                       leaving                   18,2011    29,2015
           chairman

           Vice
                       Office                    October    October
Shu Yibo Board                     Female   43                         0   0    0                   0
                       leaving                   18,2011    29,2015
           chairman

Zhang                  Office                    October    October
           Director                Female   40                         0   0    0                   0
Mei                    leaving                   18,2011    29,2015

Feng                   Office                    October    October
           Director                Male     53                         0   0    0                   0
Junbin                 leaving                   18,2011    29,2015

           Deputy
           General
           Manager,
Zhang                  Office                    October    October
           Secretary               Male     53                         0   0    0                   0
Jinliang               leaving                   18,2011    29, 2015
           to the
           board of
           directors

           Independ
Jin                    Office                    October    October
           ent                     Male     56                         0   0    0                   0
Ligang                 leaving                   18,2011    29,2015
           Director

           Independ
Shen                   Office                    October    October
           ent                     Male     58                         0   0    0                   0
Songqim                leaving                   18,2011    29, 2015
           Director


                                                                                                    72
Sino Great Wall Co., Ltd.                                                                                             2015 Annual Report


Huang        Superviso Office                                 October      October
                                       Female            58                                  0          0              0                    0
Xiaoping r                leaving                             18,2011      29,2015

Pan          Superviso Office                                 October      October
                                       Male              64                                  0          0              0                    0
Weichao r                 leaving                             18,2011      29,2015

             Manager
Ren
             of           Office                              October      October
Changzhe                               Male              40                                  0          0              0                    0
             Finance      leaving                             18,2011      29, 2015
ng
             Dept

                                                                                                 153,139,4                        153,139,4
Total             --              --      --        --            --           --            0                         0
                                                                                                       62                                  62


II. Change in shares held by directors, supervisors and senior executives


        Name               Positions            Types                   Date                                 Reason

                       Vice Board         Expiration of the
Ding Yue                                                       Octo ber 29,2015 Expiration of the term of office
                       chairman           term of office

                       Vice Board         Expiration of the
Shu Yibo                                                       Octo ber 29,2015 Expiration of the term of office
                       chairman           term of office

                                          Expiration of the
Zhang Mei              Director                                Octo ber 29,2015 Expiration of the term of office
                                          term of office

                                          Expiration of the
Feng Junbin            Director                                Octo ber 29,2015 Expiration of the term of office
                                          term of office

                                          Expiration of the
Zhang Jinliang         Director                                Octo ber 29,2015 Expiration of the term of office
                                          term of office

                       Independent        Expiration of the
Jin Ligang                                                     Octo ber 29,2015 Expiration of the term of office
                       director           term of office

                       Independent        Expiration of the
Shen Songqin                                                   Octo ber 29,2015 Expiration of the term of office
                       director           term of office

                       Independent        Expiration of the
Chen Jinmei                                                    Octo ber 29,2015 Expiration of the term of office
                       director           term of office

                                          Expiration of the
Huang Xiaoping Supervisor                                      Octo ber 29,2015 Expiration of the term of office
                                          term of office

                                          Expiration of the
Pan Weichao            Supervisor                              Octo ber 29,2015 Expiration of the term of office
                                          term of office

                       Deputy general
                                          Expiration of the
Zhang Jinliang         Manager, Board                          Octo ber 29,2015 Expiration of the term of office
                                          term of office
                       secretary

                       Manager of         Expiration of the
Ren Changzheng                                                 Octo ber 29,2015 Expiration of the term of office
                       Finance Dept       term of office



                                                                                                                                            73
Sino Great Wall Co., Ltd.                                                                     2015 Annual Report


III.Posts holding

Work Experience in the past five years of Directors, supervisors and senior Executives in Current office
(1) Director
Mr. Chen Lue, male, Chinese nationality, no overseas permanent residence, born in April 1970, currently the
doctoral students of accounting specialty in Wuhan University, Senior Management MBA of Guanghua School of
Management of Beijing University, Senior Management MBA of School of Economics and Management of
Tsinghua University, Bachelor in major of Food Science and Nutritional Engineering of China Agricultural
University, senior engineer. He had served as a technician in Zhuhai Fisheries Group Canned Food Factory,
project manager in Guangdong Yuexi Construction Company, vice general manager in Guizhou Construction
Engineering Group Dongguan Company, vice general manager in Shenzhen Great Wall Furniture Decoration
Engineering Co., Ltd. Currently, he is the Vice Chairman of Beijing Decoration Association, Director of
Informatization Committee of China Building Decoration Association, director of information technology
committee, executive member of China Building Decoration Association, the first chairman of Beijing-Zhanjiang
Business Association. From June 2006 to September 2014, he was the chairman of the Great Wall Construction
Engineering Co. Ltd; from December 2007 to September 2014, he served as the general manager of the Great Wall
Construction Engineering Co. Ltd; from May 2011 to September 2014, he served as the supervisor of Sino Great
Wall Construction Engineering (Liaoning) Co., Ltd. since 2001, he has been the executive director and chairman of
the board of the Sino Great Wall International Engineering Co., Ltd; since November 2007, he has been the
executive director of Sino Great Wall (Beijing) Decoration Design Co., Ltd; since February 2011, he has been the
supervisor of Sino Great Wall Decoration Engineering (Shenyang) Co., Ltd; since April 2014, he has been the
executive director and general manager of Sino Great Wall Investment (Beijing) Co., Ltd; since September 2015,
he has been the chairman and the general manager of Sino Great Wall Cubic Investment Co., Ltd; since October
2015, he has been the chairman of the board and the general manager of the company.
Mr. Hu Yongfeng, Chinese nationality, no overseas permanent residence ,male, born in July 1962, graduated from
East China Textile Engineering College in 1983, bachelor, senior engineer. He served as the director of the general
office of the National Textile Association. From April 2008 to October 2015, he had served as the general manager
of Shenzhen Victor Onward Textile Industrial Co., Ltd; from October 2000 to October 2015, he had served as the
chairman of Shenzhen Victor Onward Textile Industrial Co., Ltd; currently, he is the vice-president of Hualian
Development Group Co., Ltd and the vice-chairman of Union Holdings Co., Ltd; since October 2015, he has been
served as the company’s director.
Mr. Li Erlong, Chinese nationality, no overseas permanent residence, male, was born in September 1975,
graduated from the Shandong Building Materials Engineering College, MBA of Tsinghua University. He had
served as the assistant to director of the National Building Materials Quality Supervision and Inspection Center, the
researcher for the China-Africa R&D Center of Artificial Crystal. Since March 2005, he has been served as the
general manager of the Sino Great Wall International Engineering Co., Ltd; since November 2007, he has been the
general manager of Beijing Sino Great Wall Decoration Design Co., Ltd.; since June 2014, he has been the
executive director of the Sino Heji Environmental-protection Material Co., Ltd; since September 2015, he has been
the director of Sino Cubic Investment Co., Ltd; since October 2015, he has been the company’s director and vice
general manager.
Mr. Liang Rong, Chinese nationality, no overseas permanent residence, male, born in December 1969,
graduated from the specialty of civil and architectural engineering of Shantou University, senior management
MBA of Nankai University, senior engineer. He had served as the assistant engineer in Zhuhai Xinzhou Real Estate
Co., Ltd, material surveyor in Japan Shimizu Corporation, project manager in Shenzhen Great Wall Furniture


                                                                                                                   74
Sino Great Wall Co., Ltd.                                                                    2015 Annual Report


Decoration Engineering Co., Ltd. Since April 2003, he has been the executive general manager of Sino Great Wall
International Engineering Co., Ltd; Since June 2014, he has been the director of the Sino Great Wall International
Engineering Co., Ltd; since November 2014, he has been the director of the Sino Great Wall International
Engineering Co., Ltd(Macau); since October 2015, he has been the company’s director and vice general manager.

Mr. Wang Lei, Chinese nationality, no overseas permanent residence, male, born in March 1963, senior
management MBA of School of economics and management of Tsinghua University, currently pursuing the
finance EMBA of PBC School of Finance, senior engineer. He had Served as the general manager of Anshan
Yongxin Engineering General Contracting Company, vice president of Chinese Enterprises Investment Company,
director and general manager of Henan Shunyuan Aluminum Industry Co.,Ltd, director and vice chief-economist
of Henan Coal Chemical Industry Group Co., Ltd. Since April 2013, he has been the chairman of Shanghai
     Heyi Supply Chain Management Co., Ltd.; since October 2015, he has been the company’s director.
Mr. Bai Bin, Chinese nationality, no overseas permanent residence, male, born in 1985, master of law, possesses
vocational qualification of lawyer and law. He had successively served as the lawyer of Beijing Jingda Law Firm,
investment manager, Investment Director, general manager of the asset management department and so forth posts
of Kunwu Jiuding Investment Management Co.,Ltd. Currently, he is the general manager of Jiuxin Asset
Management Co.,Ltd, director of Sino High-speed Rail technology Co.,Ltd, director of Beijing UTS International
Travel Service Co., Ltd, director of Sino Great Wall International Engineering Co., Ltd, director of Sichuan Dawei
Science and Technology Co., Ltd and so on. Since October 2015, he has been the company’s director.

Mr. Tang Jianxin, male, Chinese nationality, no overseas permanent residence, born in December 1965, Doctor,
Professor, doctoral supervisor, registered auditor, Certified Public Valuer. He had served as the deputy director in
Hainan Spring Auditor Firm, independent director of Wuhan Zhongnan Commercial Group Co., Ltd, independent
director of Wuhan Sanzhen Industry Holding Co., Ltd. Since 1995, he has been teaching at Wuhan University.
Currently, he is the professor and dean of accounting department of Wuhan University. From June 2008 to June
2014, he had been served as the independent director of Wuhan Zhongnan Commercial Group Co., Ltd.; from June
2009 to July 2015, he had been served as the independent director of Wuhan Sanzhen Industry Holding Co., Ltd;
since August 2010, he has been the independent director of Shenzhen Hua Pengfei Modern Logistics Co., Ltd; since
November 2011, he has been the independent director of Wuhan Zhongbai Group Co., Ltd.; since May 2013, he has
been the independent director of Pingdingshan Tianan Coal Industry Co., Ltd; since October 2015, he has been the
independent director of the company.

Mr. Zhang Yufeng, male, Chinese nationality, no overseas permanent residence, born in November 1963, Master's
degree, EMBA of PBC School of Finance of Tsinghua University. He had served as the principal staff member of
the discipline inspection team stationed in Ministry of health from the Commission for Discipline Inspection of
the Central Committee of the CPC, Project Manager of China Hualian Real Estate Company, project manager of
the Import and Export Department of China Construction Engineering Corporation, lawyer of Great Wall Law
Firm of Department of Commerce. Currently, he is the director of Beijing Great Wall Law Firm; since June 2011,
he has been the independent director of NetPosa Technologies Ltd; since May 2013, he has been the independent
director of Bank of Langfang; since October 2015, he has been the independent director of the company.
Mr. Jiang Chongguang, male, Chinese nationality, no overseas permanent residence, born in 1975, PhD in finance
of Chinese Academy of Social Sciences, PhD in economics, graduated from Peking University, Fordham
University and Chinese Academy of Social Sciences. He had served as the middle, senior management staff in Haier
Group, managing director of Singapore CKSP Group. Currently, he is the researcher of the Non-governmental


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Sino Great Wall Co., Ltd.                                                                   2015 Annual Report


organization and Public Administration Research Center of Chinese Academy of Social Sciences, executive
director of Health China Strategy Research Center; chief economist and director of Ivy capital; vice executive
chairman of the China Old-age Health International Alliance; permanent financial adviser to China- Israel
Exchange Association of the High-tech Committee of Israel Parliament; independent director of Singapore CKSP;
expert and committee member of Hospital Management Research Institute of Tsinghua University; expert and
committee member of China Social Medical Research Association of MOHRSS; since October 2015, he has been
the independent director of the company.
2. Supervisors
Mr. Dong Binggen, male, born in July 1949, bachelor, senior engineer, graduated from East China Textile
Engineering College in 1977. He had served as the vice president of Zhejiang Silk Industry Institute, general
manager of China Garment General Corporation, chairman of China National Garment Association, and so on.
Currently, he is the party secretary, chairman of the board and president of Union Development Group Co., Ltd;
chairman of the board of Union Holdings Co., Ltd; since June 2002, he has been the chairman of the board of
supervisors of the company.
Mr. Huang Shengde, male, born in January 1972; Hongkong Chinese; obtained the high Diploma of City
University of Hongkong in architecture, bachelor(honorary degree) of University of South Australia in
Architecture, MBA (financial) of the business school of The University of Manchester; he had served in the
Hopewell Slip-form Engineering Co. Ltd, China Foundation Engineering Co. Ltd, Qian Tian Construction Co.,
Ltd, Hongkong Xing Sheng Construction Co. Ltd, Wu Teng (Hongkong) Co. Ltd, Beijing Xingrong Real Estate
Development Co., Ltd, Yoma Strategic Holdings Co.,Ltd and Intecs Vantage Capitals Ltd; he had the management
and professional qualifications, including the member of 2006-Hongkong Project Management Association, the
member of 2006 Chinese Engineering Cost Association, the member of 2002 Hongkong Surveyors Association,
the member of 2002 Royal Institution of Chartered Surveyors, the member of 2001 Australian Institute of
Quantity Surveyors Association, the member of 2001-2004 British Cost Engineers Council and the member of
2001-2004 Australian Institute of architects. Currently, he is the vice general manager of Sino Great Wall
International Engineering Co., Ltd mainly in charge of overseas business cooperation and business development;
since October, 2015, he has been the company’s supervisor.
Mr. Wu Xiaoming, male, Chinese nationality, no overseas permanent residence,born in November 1980, Bachelor
in law, graduated from the law school of Guangdong Business College (now as Guangdong University of Finance
& Economics) with major in law. He had served in Guangzhou Municipal Bureau of Quality and Technical
Supervision Haizhu Branch ( now as Guangzhou Haizhu District Bureau of Quality and Technical Supervision);
since December 2008, he has been the assistant to general manager and Legal Department Manager of Sino Great
Wall International Engineering Co., Ltd; since June 2014, he has been the chairman of the board of supervisors of
Sino Great Wall International Engineering Co., Ltd; since October 2015, he has been the company’s supervisor.

3. Senior management personnel
Please see detailed work experience of Mr. Li Erlong and Mr. Liang Rong in the column of directors.
Mrs. Song Chenling, female, Chinese nationality, no overseas permanent residence,born in July 1972, bachelor,
certified public accountant in china. She had been the teacher of Minjiang University, senior manager and
assistant to partner of Shenzhen Dahua Tiancheng Accounting Firm, audit department manager, Assistant to
general manager of audit center, assistant to general manager of financial center and general manager of funds
center of Huafu Holding Co., Ltd; director, CFO, secretary of the board of directors, assistant to president and so
on of Huafu Top Dyed Melange Yarn Co., Ltd; since March 2015, she has been serving in the Sino Great Wall
International Engineering Co., Ltd; since October 2015, she has been the company's vice general manager.


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Sino Great Wall Co., Ltd.                                                                                    2015 Annual Report


Mrs. Cui Hongli, female, Chinese nationality, no overseas permanent residence, born in January 1972, graduated
from Henan University of Finance and Economics, CPA. She had been served in China Luoyang Float Glass Group
Co.,Ltd, Beijing Jiayou Real Estate Development Group Co.,Ltd and Yuancheng Industrial Group Co.,Ltd. Since
July 2011, she has been the investment and finance department manager, CFO of Sino Great Wall International
Engineering Co., Ltd; since October 2015, she has been the company’s CFO.
Mrs. Yang Chunling, female, Chinese nationality, no overseas permanent residence, born in February 1971,
Bachelor in economics, master in industrial engineering, accountant. She had served as employee in Sinotrans
Henan Zhengzhou Logistic and Trading Company, Deputy Minister of the securities department of Aeolus Tyre
Co., Ltd, vice general manager and secretary of the board of directors of Henan Yuhua New Material Co., Ltd.
Since September 2015, she has been the director of Sino Cubic Investment Co., Ltd; since March 2014, she has
been the secretary of the board of directors of Sino Great Wall International Engineering Co., Ltd; since October
2015, she has been the secretary of the board of directors of the company.



Office taking in shareholder companies

□ Applicable √Not applicable

Offices taken in other organizations
√Applicable □Not applicable

                                                                                                                        Whether
                                                                                                                        receiving
                                                                                  Office term      Office term
Name                             Name of other units            Position                                            remuneration
                                                                                   start from        ended
                                                                                                                   from other units
                                                                                                                         or not

                 Sino Great Wall International Engineering   Board              October
Chen Lue                                                                                                          Yes
                   Co., Ltd.                                 chairman           17,2001

                 Beijing Sino Great Wall Decoration Design Executive            November
Chen Lue                                                                                                          No
                 Co., Ltd.                                   director           28,2007

                                                             Executive
                 Sino Great Wall Investment (Beijing) Co.,
Chen Lue                                                     director,Gene April 22, 2014                         No
                 Ltd.
                                                             ral Manager

                                                             Board
                                                                                September
Chen Lue         China Sino Lifang Investment Co., Ltd.      chairman,Gen                                         No
                                                                                14,2015
                                                             eral Manager

                                                             Vice
Hu Yongfeng      Union Development Group Co., Ltd.                              May 18,2012     May 17,2015       No
                                                             President

                                                             Vice       Board
Hu Yongfeng      Union Holdings Co., Ltd.                                       June 21, 2013   June 20, 2016     No
                                                             chairman

                 Sino Great Wall International Engineering   General
Li Erlong                                                                       March 1,2005                      Yes
                 Co., Ltd.                                   Manager

                 Sino Great Wall International Engineering
Li Erlong                                                    Director           June 1,2014                       No
                 Co., Ltd.


                                                                                                                                      77
Sino Great Wall Co., Ltd.                                                                                 2015 Annual Report


                 Beijing Sino Great Wall Decoration Design                   November
Li Erlong                                                     Manager                                          No
                 Co., Ltd.                                                   28,2007

                                                              Executive      September
Li Erlong        Sino Heji Environmental Material Co., Ltd.                                                    No
                                                              director       2,2015

                                                                             September
Li Erlong        China Sino Lifang Investment Co., Ltd.       Director                                         No
                                                                             14,2015

                                                              Executive
                 Sino Great Wall International Engineering
Liang Rong                                                    General        April 1,2003                      Yes
                 Co., Ltd.
                                                              Manger

                 Sino Great Wall International Engineering
Liang Rong                                                    Director       June 1,2014                       No
                 Co., Ltd.

                 Sino Great Wall International                               November
Liang Rong                                                    Director                                         No
                 Engineering(Macao) Co., Ltd.                                17,2014

                                                              Board          September 2,
Wang Lei         Qinghai Heyi Mining Co., Ltd.                                                                 No
                                                              chairman       2008

                                                              Board
Wang Lei         Qinghai Heyi Trade Co., Ltd.                                May 8, 2009                       No
                                                              chairman

                 Shanghai Heyi Supply chain Management        Board
Wang Lei                                                                     April 7, 2013                     Yes
                 Co., Ltd.                                    chairman

                                                              General        September       September
Bai Bin          Jiuxin Assets Management Co., Ltd.                                                            Yes
                                                              Manger         9,2015          8,2018

Bai Bin          Utour                                        Director       June 13,2014    June 12,2017      No

Bai Bin          Sichuan Dawei Technology Co., Ltd.           Director       May 10,2014     May 9,2017        No

Bai Bin          CHSR                                         Director       March 3,2015    May 17,2016       No

                 Sino Great Wall International Engineering
Bai Bin                                                       Director       June 1,2014                       No
                 Co., Ltd.

                                                              Professor
                                                               ofAccountin
                                                               g
                                                               Department , December
Tang Jianxin     Wuhan University                                                                              Yes
                                                               Economics     1,2004
                                                               and
                                                               Management
                                                               School

                 Shenzhen Huapengfei Modern Logistics         Independent
Tang Jianxin                                                                 August 1,2010                     Yes
                 Co., Ltd.                                     Director

                                                              Independent    November
Tang Jianxin     Wuhan Zhongbai Group Co., Ltd.                                                                Yes
                                                               Director      1,2011

Tang Jianxin     Pingdingshan Tianan Coal Co., Ltd.           Independent    May 17,2013                       Yes


                                                                                                                               78
Sino Great Wall Co., Ltd.                                                                               2015 Annual Report


                                                             Director

Zhang Yufeng     Beijing Great Wall Law Firm                 Director                                         Yes

                                                             Independent
Zhang Yufeng     Beijing Netposa Technologies Co., Ltd.                      June 1,2011                      Yes
                                                             Director

                                                             Independent
Zhang Yufeng     Langfang Bank                                               May 1,2013                       Yes
                                                             Director

                                                             Chief
Jiang
                 Ivy Capital                                 Economist, May 1,2015                           Yes
Chongguang
                                                             Director

Jiang            Centre of Health China Strategy Research of Executive
                                                                             May 1,2015                       Yes
Chongguang       Chinese Academy of Social sciences          director

Jiang            China Health & senior care International    Executive
                                                                             May 1,2014                       Yes
Chongguang       Alliance                                    vice chairman

                                                             Lifelong
Jiang            High tech Committee of the Israeli
                                                             Financial       March 1,2014                     Yes
Chongguang       parliament to exchange association
                                                             advisor

                 Chinese Academy of Social Sciences, civil
Jiang
                 society organizations and Public            Researcher      March 1,2014                     Yes
Chongguang
                 Governance Research Center

Jiang                                                        Independent     December
                 Singapore CKSP                                                              January 1,2025   Yes
Chongguang                                                   Director        1,2015

Jiang            Institute for Hospital Management of        Specialist      December
                                                                                             December 1,2018 Yes
Chongguang       Tsinghua University                         director        1,2015

Jiang                                                        Specialist
                 Social Secutity Research Society of China                   March 1,2016                     Yes
Chongguang                                                   director

                                                             Secretary of
                                                             Party
                                                             committee,
Dong Binggen Union Development Group Co., Ltd.               chairman of     May 18,2012     May 17,2015      Yes
                                                             board of
                                                             directors and
                                                             President

                                                             Board
Dong Binggen Union Holdings Co., Ltd.                                        June 21, 2013   June 20, 2016    No
                                                             chairman

                                                             Deputy
                 Sino Great Wall International Engineering
Huang Desheng                                                Generaql                                         Yes
                 Co., Ltd.
                                                             Manager

                                                             Assistant
                 Sino Great Wall International Engineering                   December
Wu Xiaoming                                                  General                                          Yes
                 Co., Ltd.                                                   1,2008
                                                             Manager,


                                                                                                                             79
Sino Great Wall Co., Ltd.                                                                                    2015 Annual Report


                                                              Manager of
                                                              Law Dept.

                                                              Chairman of
                 Sino Great Wall International Engineering    the
Wu Xiaoming                                                                   June 1,2014                            Yes
                 Co., Ltd.                                    supervisory
                                                              committee

                 Sino Great Wall International Engineering
Song Chenling                                                                 March 1,2015                           Yes
                 Co., Ltd.

                 Sino Great Wall International Engineering    Board
Yang Chunling                                                                 March 1,2014                           Yes
                 Co., Ltd.                                    secretary

                                                                              September
Yang Chunling China Sino Lifang Investment Co., Ltd.          Director                                               No
                                                                              1,2015

                                                              Manager
                 Sino Great Wall International Engineering
Cui Hongli                                                     ofInvestmen July 1,2011                               Yes
                 Co., Ltd.
                                                               t Dept, CFO

                 Except the concurrently hold posts in the above-mentioned information, the company’s directors, supervisors,
                 senior management staff do not hold other posts or concurrently hold other posts in any other companies.
                 The above-said company’s non-independent directors, supervisors and senior management personnel receiving
Notes
                 remunerations from the company who had received remunerations from the wholly-owned subsidiary-Sino Great
                 Wall International Company from January 2015 to October 2015, but having received remunerations from the
                 company since November 2015.

Punishments to the current and leaving board directors, supervisors and senior managers during the report period
by securities regulators in the recent three years
□ Applicable √Not applicable


IV. Remuneration to directors, supervisors and senior executives

Decision-making procedures, basis for determination and actual payment of the remuneration to directors ,
supervisors and senior executives
    The remuneration appraisal committee of the board of directors of the Company proposed remuneration
standards according to the responsibilities, work scope and importance of directors, supervisors and senior
executives, the earnings of the Company for the current year and the remuneration level of relevant post and
submitted it to the board of directors for approval. After approval, the remuneration was paid on monthly basis.
The remuneration of independent directors is subject to approval by the shareholders' meeting.
Remuneration to directors, supervisors and senior executives in the reporting period
                                                                                                                     Unit :RMB’0000

                                                                                                     Total            Remuneration
                                                                                                 remuneration        actually receivect
      Name              Positions           Sex                Age             Office status
                                                                                               received from the at the end of the
                                                                                                 shareholder         reporting period

Chen Lue           Board Chairman, Male                                   45 In Office                        36.6                  No


                                                                                                                                      80
Sino Great Wall Co., Ltd.                                       2015 Annual Report


                   General Manager

Hu Yongfeng        Director             Male     53 In office      0                 Yes

                   Director, Deputy
Li Erlong                               Male     40 In Office    28.2                No
                    General Manger

                   Director, Deputy
Liang Rong                              Male     46 In office     27                 No
                    General Manger

Wang Lei           Director             Male     52 In Office      0                 Yes

Bai Bin            Director             Male     30 In Office      0             No

                   Independent
Tang Jianxin                            Male     50 In office    1.83            No
                   Director

                   Independent
Zhang Yufeng                            Male     52 In Office    1.83            No
                   Director

Jiang              Independent
                                        Male     40 In office    1.83            No
Chongguang         Director

                   Chairman of the
Dong Binggen       supervisory          Male     66 In Office      0                 Yes
                   committee

Huang Desheng      Supervisor           Male     37 In office    4.85            No

Wu Xiaoming        Supervisor           Male     35 In Office    11.1            No

                   Deputy General
Song Chenling                           Female   43 In office     5.1            No
                    Manger

Cui Hongli         CFO                  Female   43 In Office   22.56            No

                   Secretary to the
Yang Chunling                           Female   44 In Office    14.1            No
                   board of directors

                   Vice Board
Ding Yue                                Male     57 Former         0                 Yes
                   Chairman

                   Vice Board
Shu Yibo                                Female   43 Former         0                 Yes
                   Chairman

Zhang Mei          Director             Female   40 Former         0                 Yes

Feng Junbin        Director             Male     53 Former         0                 Yes

                   Deputy General
                    Manager,
Zhang Jinliang      Secretary to the Male        53 Former         0                 Yes
                    board of
                    directors

                   Independent
Jin Ligang                              Male     56 Former         0             No
                   director

She Songqin        Independent          Male     58 Former         0             No


                                                                                       81
Sino Great Wall Co., Ltd.                                                                                    2015 Annual Report


                   director

                   Independent
 Chen Jinmei                              Female                             63 Former                           0                No
                   director

Huang Xiaoping Supervisor                 Female                             58 Former                           0            Yes

Pan Weichao        Supervisor             Male                               64 Former                           0                Yes

                   Manager of
Ren Changzheng                            Male                               40 Former                           0                Yes
                   Finance Dept

Total                                                                                                          155

Incentive equity to directors, supervisors or/and senior executives in the reporting period
□ Applicable √Not applicable


V. Particulars about employees.

1.Number of staff, professional structure and educational background


Number of in-service staff of the parent company(person)                                                                         10

Number of in-service staff of the main subsidiaries(person)                                                                1,671

Total number of the in-service staff(person)                                                                               1,681

Total number of staff receiving remuneration in the current
                                                                                                                             1,681
period(person)

The number of the parent company and the main subsidiary’s
                                                                                                                                    0
retired staffs who need to bear the cost(person)

                                                              Professional

               Classified according by Professions                                       Number of persons(person)
                              Production                                                                                            0

                                 Sales                                                                                             83

                              Technical  &nb