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4 Annual Report

2013 Shenyang Public Utility Holdings Company Limited Chairman'

s Statement 主席报告 Dear Shareholders, The

2013 Financial Year was a year of business transformation and restructuring for the Company. On the one hand, the Company endeavoured to maintain sound management and increase the operating income from core businesses. On the other hand, the Company actively explored the business strategy for sustainable development. In the

2013 Financial Year, the Company recorded turnover of approximately RMB336,800,000, representing a substantial increase as compared with that in the

2012 Corresponding Period. Profit after tax for the

2013 Financial Year amounted to RMB11,639,000. Profit for the

2012 Corresponding Period of RMB27,126,000 included a gain from fair value change in contingent consideration of RMB30,500,000. Profit after tax of the Group for the

2013 Financial Year achieved significant increase comparing with profit for the

2012 Corresponding Period excluding such gain from fair value change in contingent consideration. Given the fact that the majority of the land development project of Jing Nan Industrial Park in Chaozhou has been completed and the acceptance procedures are well underway, the Board believes that the Company will continue to achieve satisfactory growth in 2014. During the year, the Company has entered into the disposal agreement to dispose the equity interest and the shareholder loan of Guangzhou Zhongzhan. Following the completion of disposal, the Group ceased to carry on real estate development business. Looking ahead, the Company will focus on infrastructure construction business, and other financial business. Currently, further cooperation on the land development project of Jing Nan Industrial Park is still under negotiation and the Company is also exploring the investment opportunities in infrastructure construction project in other regions of Guangdong. In order to strengthen the Group'

s financial foundation to allocate more resources to its principal businesses, the Company has proposed to issue new Domestic Shares and H-shares during the year. In particular, the issue of the additional Domestic Shares shall be completed by the end of June

2014 whereas the application for the issue of new H shares has been submitted to CSRC for approval. The application is currently in progress. In 2014, the Company will continue to expand infrastructure construction business, as well as explore opportunities in financial business with a view to maximising the returns for shareholders. Finally, I, on behalf of the Board and management, would like to extend heartfelt thanks to all the shareholders, business partners and employees for their strong support to the Company. Ma Zhong Hong Chairman

28 March

2014 尊敬的各位股东: 2013年财政年度是本公司业务转型及重组 的一年.一方面,公司继续致力於稳健的管 理,增强核心经营收入.另一方面,公司积 极探索可持续发展的业务模式. 在2013年财政年度内,公司实现营业额约为 人民币336,800,000元,较2012年同期有了大 幅增长.2013年财政年度的税后利润为人民 币11,639,000元,而2012年同期利润为人民 币27,126,000元,当中包括或然代价公允价 值收益人民币30,500,000元.撇除或然代价 公允价值变动的有关收益,集团2013年财政 年度税后利润较2012年同期大幅增长.鉴於 潮州径南工业园土地平整项目的大部分完工 及验收工作的有序进行,董事会相信2014年 公司仍将取得有利增长. 本年度公司已订立出售协议出售广州中展股 权及股东贷款.完成出售后,集团不再从事 房地产开发业务.未来公司将努力发展基础 设施建设及其他金融业务.目前公司正在洽 谈径南工业园进一步土地平整合作,并探索 在广东其他地区的基础设施建设投资机会. 为了增强集团财务实力以加强在主营业务上 的投资力度,公司於本年度内拟开展了增发 内资股及H股的工作.其中,内资股增发工作 将於2014年6月底前完成.H股增发申请报告 已递送中国证监会审批,目前正在审批中. 2014年公司仍将扩展基础设施建设业务,发 掘金融业务机会,为股东创造更大价值. 最后,我谨代表董事会及管理层,向全体股 东、业务夥伴及公司员工给与的大力支持表 示衷心感谢. 董事长 马钟鸿 2014年3月28日2013年报 沈阳公用发展股份有限公司