13 February 2015

HANG SENG INDEXES ANNOUNCES INDEX REVIEW RESULTS

Hang Seng Indexes Company Limited (“Hang Seng Indexes”) today announced the
results of its review of the Hang Seng Family of Indexes for the quarter ended 31
December 2014. All changes will be effective on 9 March 2015 (Monday).

1. Hang Seng Index

There is no change to the constituents of the Hang Seng Index. The total number of
constituents is fixed at 50.

The list of constituents is provided in Appendix 1.

Index adjustments with respect to Cheung Kong (Holdings) and Hutchison Whampoa
Reorganisation

Based on the latest available information, expected index adjustments at various stages
of the reorganisation proposals in the Hang Seng Family of Indexes (including the Hang
Seng Index) are as follows:

Stages Index Adjustments

Cheung Kong Reorganisation
Cheung Kong (Holdings) (HKEx • CK Hutchison Holdings will replace Cheung
Stock Code: 0001) shareholders Kong (Holdings) in all relevant indexes on its
will receive one CK Hutchison listing date.
Holdings share for every share
held.

Merger of CK Hutchison Holdings and Hutchison Whampoa

Hutchison Whampoa (HKEx Stock • Hutchison Whampoa will be removed from
Code: 0013) shareholders will all relevant indexes on completion of the
receive 0.684 CK Hutchison merger. No replacement will be made until
Holdings shares for every share the following regular index review.
held and Hutchison Whampoa will • The number of shares of CK Hutchison
be delisted from HKEx afterwards. Holdings used in index calculation will be
increased to reflect the change after the
merger.

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Stages Index Adjustments

Spin-off of Cheung Kong Property Holdings
Cheung Kong Property Holdings • Cheung Kong Property Holdings will be
will be spun off from CK added to all relevant indexes on its listing
Hutchison Holdings on the basis of date and its constituency will be reviewed in
one Cheung Kong Property the following regular index review.
Holdings share for every CK • Between the ex-date of CK Hutchison
Hutchison Holdings share held. Holdings and the listing date of Cheung
Kong Property Holdings, if any, the
estimated value of Cheung Kong Property
Holdings will be kept in all relevant indexes.

Further announcements will be made with respect to the details of the adjustments.

2. Hang Seng China Enterprises Index

There is no change to the constituents of the Hang Seng China Enterprises Index. The
total number of constituents is fixed at 40.

The list of constituents is provided in Appendix 2.

3. Hang Seng Composite LargeCap / MidCap Index

The following constituent changes will be made to the Hang Seng Composite LargeCap
Index / MidCap Index. The total number of constituents for these two indexes will
increase from 251 to 266.

Inclusion:
Code Company Size
823 The Link Real Estate Investment Trust LargeCap
86 Sun Hung Kai & Co. Ltd. MidCap
241 Alibaba Health Information Technology Ltd. MidCap
285 BYD Electronic (International) Co. Ltd. MidCap
778 Fortune Real Estate Investment Trust MidCap
933 Brightoil Petroleum (Holdings) Ltd. MidCap
967 Sound Global Ltd. MidCap
968 Xinyi Solar Holdings Ltd. MidCap

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Code Company Size

996 Carnival Group International Holdings Ltd. MidCap
1060 Alibaba Pictures Group Ltd. MidCap
1136 TCC International Holdings Ltd. MidCap
1347 Hua Hong Semiconductor Ltd. MidCap
1816 CGN Power Co., Ltd. - H Shares MidCap
1958 BAIC Motor Corporation Ltd. - H Shares MidCap
2329 Guorui Properties Ltd. MidCap
2357 AviChina Industry & Technology Co. Ltd. - H Shares MidCap
2382 Sunny Optical Technology (Group) Co. Ltd. MidCap
2778 Champion Real Estate Investment Trust MidCap
3331 Vinda International Holdings Ltd. MidCap
Dalian Wanda Commercial Properties Co., Ltd. - H MidCap
3699
Shares
6199 China CNR Corporation Ltd. - H Shares MidCap

Removal:
Code Company Size
116 Chow Sang Sang Holdings International Ltd. MidCap
917 New World China Land Ltd. MidCap
1068 China Yurun Food Group Ltd. MidCap
1432 China Shengmu Organic Milk Ltd. MidCap
3368 Parkson Retail Group Ltd. MidCap
3389 Hengdeli Holdings Ltd. MidCap

The complete review results of the Hang Seng Composite Index and its sub-indexes
have been released in a separate index notice.

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4. Hang Seng China AH Index Series

The following constituent changes will be made to the Hang Seng China AH Index
Series. The total number of constituent companies will increase from 57 to 59.

Inclusion:
Code
Company
HK Share A Share
2727 601727 Shanghai Electric Group Co. Ltd.
1919 601919 China COSCO Holdings Co. Ltd.

5. Hang Seng China 50 Index

The following constituent changes will be made to the Hang Seng China 50 Index. The
total number of constituent companies is fixed at 50.

Inclusion:
Code
Company
HK Share A Share
267 - CITIC Ltd.
- 601989 China Shipbuilding Industry Company Limited

Removal:
Code
Company
HK Share A Share
- 002415 Hangzhou Hikvision Digital Technology Co.,Ltd.
135 - Kunlun Energy Co. Ltd.

6. Other Benchmark & Thematic Indexes

The Benchmark and Thematic Indexes in the Hang Seng Family of Indexes were also
part of the index review.

The review results of the Benchmark Indexes and Thematic Indexes have been released
in a separate index notice.

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About Hang Seng Indexes Company Limited

The Hang Seng Family of Indexes is managed and compiled by Hang Seng Indexes Company Limited
(formerly HSI Services Limited), which is a wholly-owned subsidiary of Hang Seng Bank. The Hang
Seng Family of Indexes comprises a wide range of Flagship, Benchmark, Thematic and Strategy indexes
that cover stocks listed in Hong Kong and mainland China markets. For further information on the Hang
Seng Family of Indexes, please visit the company's website at www.hsi.com.hk.

About HSI Advisory Committee

Hang Seng Indexes Company Limited has appointed an independent advisory committee which meets
regularly to discuss matters pertaining to the indexes, including changes of constituents and the launch of
new indexes.

About Index Review

Indexes in the Hang Seng Family of Indexes are reviewed quarterly, excluding the Hang Seng China
H-Financials Index, the Hang Seng REIT Index, the Hang Seng China 50 Index, the Hang Seng China AH
Index Series, the Hang Seng Composite Index Series, the Hang Seng Foreign Companies Composite
Index, the Hang Seng Global Composite Index, the Hang Seng Low Volatility Index, the Hang Seng High
Beta Index, the Hang Seng Broad Consumption Index, the Hang Seng Infrastructure Index, the Hang Seng
Mainland Consumer Goods Index and the Hang Seng Natural Resources Index, which are reviewed on a
semi-annual basis, and the Hang Seng China A Industry Top Index, the Hang Seng Corporate
Sustainability Index Series, the Hang Seng High Dividend Yield Index, the Hang Seng China A Top 100
Index and the Hang Seng China A Top 500 Index, which are reviewed annually. The review will normally
be completed within eight weeks after each calendar quarter-end.

# End #
 Appendix 1
Hang Seng Index
Constituent Change (Effective 9 March 2015)
ADD REMOVE
Nil Nil

Index Information
Number of Constituents (Effective 9 March 2015): 50
Market Value Coverage Ratio* (As at 31 December 2014): 58.8%
Turnover Coverage Ratio* (Fourth Quarter of 2014): 49.9%

* The universe comprises Main Board primary listings excluding foreign companies

Constituent List (Assuming the rebalancing had been undertaken on 11 February 2015)
Weighting (%) *
Code Company Name FAF (%)^
Before After **
Finance 45.60 45.70
5 HSBC HOLDINGS 100 11.54 12.00
1299 AIA 100 6.55 6.48
939 CCB (H) 35 6.49 6.42
1398 ICBC (H) 85 5.03 4.98
3988 BANK OF CHINA (H) 95 4.20 4.15
2628 CHINA LIFE (H) 100 2.85 2.82
2318 PING AN (H) 70 2.67 2.64
388 HKEX 95 2.41 2.39
11 HANG SENG BANK 40 1.35 1.33
2388 BOC HONG KONG 35 1.27 1.25
3328 BANKCOMM (H) 25 0.69 0.68
23 BANK OF E ASIA 60 0.56 0.56
Utilities 4.77 4.72
2 CLP HOLDINGS 75 1.59 1.57
3 HK & CHINA GAS 60 1.36 1.34
6 POWER ASSETS 65 1.35 1.34
836 CHINA RES POWER 40 0.47 0.47
Properties 11.28 11.40
1 CHEUNG KONG 60 2.60 2.57
#
16 SHK PPT 55 2.09 2.36
823 LINK REIT 100 1.44 1.42
688 CHINA OVERSEAS 50 1.17 1.16
4 WHARF HOLDINGS 45 1.01 1.00
12 HENDERSON LAND 35 0.70 0.69
101 HANG LUNG PPT 50 0.61 0.60
17 NEW WORLD DEV 60 0.59 0.59
1109 CHINA RES LAND 35 0.60 0.55
83 SINO LAND 50 0.47 0.47
Commerce & Industry 38.35 38.18
700 TENCENT 60 9.15 9.06
941 CHINA MOBILE 30 7.72 7.64
13 HUTCHISON 50 2.77 2.74
883 CNOOC 40 2.39 2.37
857 PETROCHINA (H) 100 2.23 2.20
386 SINOPEC CORP (H) 100 1.93 1.91
27 GALAXY ENT 55 1.24 1.22
1928 SANDS CHINA LTD 30 1.14 1.13
#
992 LENOVO GROUP 65 0.85 1.06
762 CHINA UNICOM 25 0.92 0.91
1044 HENGAN INT'L 65 0.87 0.85
1088 CHINA SHENHUA (H) 100 0.86 0.85
267 CITIC 20 0.80 0.79
151 WANT WANT CHINA 55 0.78 0.77
19 SWIRE PACIFIC A 65 0.76 0.76
66 MTR CORPORATION 25 0.62 0.62
2319 MENGNIU DAIRY 70 0.61 0.60
494 LI & FUNG 70 0.53 0.52
1880 BELLE INT'L 55 0.49 0.48
322 TINGYI 35 0.46 0.46
144 CHINA MER HOLD 50 0.44 0.44
135 KUNLUN ENERGY 40 0.30 0.30
293 CATHAY PAC AIR 30 0.25 0.25
291 CHINA RESOURCES 50 0.24 0.24
Total 100.00 100.00
^
FAF is subject to change resulted from substantial capital change issues.
*
Figures may not add up to totals due to rounding.
**
The weighting changes reflect a re-capping of HSBC to 12%, and changes in FAF.
#
FAF changed in this review. New FAF will take effect on 9 March 2015.
(H): H-share company
 Appendix 2
Hang Seng China Enterprises Index
Constituent Change (Effective 9 March 2015)
ADD REMOVE
Nil Nil

Constituent List (Assuming the rebalancing had been undertaken on 11 February 2015)
Weighting (%) *
Code Company Name FAF (%)^
Before After **
939 CCB 35 9.94 10.00
1398 ICBC 85 9.86 10.00
3988 BANK OF CHINA 95 9.82 10.00
2628 CHINA LIFE 100 8.27 8.20
2318 PING AN 70 7.73 7.66
857 PETROCHINA 100 6.46 6.40
386 SINOPEC CORP 100 5.60 5.55
1288 ABC 80 3.34 3.31
2601 CPIC 80 3.04 3.01
3968 CM BANK 100 2.92 2.90
1088 CHINA SHENHUA 100 2.49 2.47
728 CHINA TELECOM 100 2.41 2.39
1988 MINSHENG BANK 90 2.05 2.03
3328 BANKCOMM 25 2.00 1.98
2328 PICC P&C 75 1.88 1.86
2333 GREATWALL MOTOR 100 1.72 1.70
998 CITIC BANK 55 1.67 1.66
1800 CHINA COMM CONS 100 1.31 1.30
1336 NCI 75 1.24 1.23
914 ANHUI CONCH 95 1.15 1.14
489 DONGFENG GROUP 95 1.12 1.11
#
902 HUANENG POWER 85 1.18 1.11
1099 SINOPHARM 95 1.08 1.07
#
6030 CITIC SEC 95 0.87 1.02
1339 PICC GROUP 85 0.99 0.98
916 CHINA LONGYUAN 90 0.88 0.88
6837 HAITONG SEC 90 0.85 0.85
#
1359 CHINA CINDA 55 0.68 0.82
2883 CHINA OILFIELD 100 0.81 0.80
2202 CHINA VANKE 100 0.81 0.80
390 CHINA RAILWAY 95 0.80 0.79
3323 CNBM 100 0.76 0.76
168 TSINGTAO BREW 55 0.66 0.65
358 JIANGXI COPPER 95 0.60 0.60
1211 BYD COMPANY 70 0.58 0.57
2238 GAC GROUP 100 0.56 0.55
2338 WEICHAI POWER 100 0.54 0.53
753 AIR CHINA 45 0.48 0.48
1066 WEIGAO GROUP 100 0.42 0.42
1898 CHINA COAL 70 0.42 0.41
Total 100.00 100.00
Total number of constituents: 40

^
FAF is subject to change resulted from substantial capital change issues.
*
Figures may not add up to totals due to rounding.
**
The weighting changes reflect a re-capping of CCB, ICBC and BANK OF CHINA to 10%, and changes in FAF.
#
FAF changed in this review. New FAF will take effect on 9 March 2015.