15 August 2014

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 30 June
2014. All changes will be effective on 8 September 2014 (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.

Change in Index Weighting Methodology

The Hang Seng Index adopts a freefloat-adjusted market capitalisation weighted

methodology with a 15% cap on individual stock weightings. Following a review on
this, it was decided that the 15% cap should be lowered to 10%. This change will be
phased in over the next 12 months through five rounds of index rebalancing. Details of
the rebalancing schedule are set out below:

After Market Close on Capping Level

5 Sep 2014 (Fri) 14%
5 Dec 2014 (Fri) 13%
6 Mar 2015 (Fri) 12%
5 Jun 2015 (Fri) 11%
4 Sep 2015 (Fri) 10%

Eligibility of Real Estate Investment Trusts (“REITs”)

Hang Seng Indexes has been compiling a Hang Seng REIT Index since October 2008 to
provide a performance benchmark for all REITs listed in Hong Kong, as REITs are
generally not eligible for inclusion in the Hang Seng equity index series. Following a
review on this, it was decided that REITs will become eligible for selection for all
indexes in the Hang Seng Family of Indexes, including the Hang Seng Index, starting
from the next index review.

more…
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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 239 to 247.

Inclusion:
Code Company
173 K. Wah International Holdings Ltd.
177 Jiangsu Expressway Co. Ltd. - H Shares
283 Goldin Properties Holdings Ltd.
530 Goldin Financial Holdings Ltd.
732 Truly International Holdings Ltd.
1111 Chong Hing Bank Ltd.
1165 Shunfeng Photovoltaic International Ltd.
1619 Tianhe Chemicals Group Ltd.
1638 Kaisa Group Holdings Ltd.
1668 China South City Holdings Ltd.
1999 Man Wah Holdings Ltd.
2202 China Vanke Co., Ltd. - H Shares
3380 Logan Property Holdings Co. Ltd.
3898 Zhuzhou CSR Times Electric Co., Ltd. - H Shares

more…
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Removal:
Code Company
189 Dongyue Group Ltd.
210 Daphne International Holdings Ltd.
341 Cafe de Coral Holdings Ltd.
631 Sany Heavy Equipment International Holdings Co. Ltd.
845 Glorious Property Holdings Ltd.
848 Maoye International Holdings Ltd.

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

Expansion of Hang Seng Composite Index (“HSCI”) Fast Entry Rule

Constituent reviews of the HSCI are undertaken twice a year after the end of the second
quarter and the fourth quarter. Fast admission of newly listed large cap stock is
allowed under the existing fast entry rule, i.e. a newly listed stock will be added to the
HSCI and its sub-indexes at the market close of its 10th trading day if its market value
ranks within the top 10% of existing HSCI constituents (in terms of number of
constituents) at the close of its first trading day. Following a review on this, it was
decided that the fast entry rule will be expanded as follows:

Stocks that are newly listed in the first or third quarter of each year and
that meet the criteria for joining the LargeCap / MidCap indexes will join
the respective indexes and the HSCI on the rebalancing date in June or
December respectively.

4. Hang Seng China A Industry Top Index

The following constituent changes will be made to the Hang Seng China A Industry Top
Index. The total number of constituents will remain at 50.

Inclusion:
Code Company
000333 Midea Group Co., Ltd.
000725 BOE Technology Group Co., Ltd.
600018 Shanghai International Port (Group) Co., Ltd.
600023 Zhejiang Zheneng Electric Power Co., Ltd.
600703 Sanan Optoelectronics Co., Ltd.

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Removal:
Code Company
000858 Wuliangye Yibin Co., Ltd.
600031 Sany Heavy Industry Co., Ltd.
600100 Tsinghua Tongfang Co., Ltd
600406 NARI Technology Co., Ltd.
600642 Shenergy Co., Ltd.

5. Hang Seng Corporate Sustainability Index Series

Hang Seng Corporate Sustainability Index

The following constituent changes will be made to the Hang Seng Corporate
Sustainability Index (“HSSUS”). The total number of constituents for HSSUS is fixed at
30.

Inclusion:
Code Company
257 China Everbright International Ltd.
1398 Industrial and Commercial Bank of China Ltd. - H Shares
2018 AAC Technologies Holdings Inc.

Removal:
Code Company
16 Sun Hung Kai Properties Ltd.
606 China Agri-Industries Holdings Ltd.
857 PetroChina Co. Ltd. - H Shares

Hang Seng (China A) Corporate Sustainability Index

The following constituent changes will be made to the Hang Seng (China A) Corporate
Sustainability Index (“HSCASUS”). The total number of constituents for HSCASUS is
fixed at 15.

more…
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Inclusion:
Code Company
600115 China Eastern Airlines Corporation Limited
601318 Ping An Insurance (Group) Company of China, Ltd.

Removal:
Code Company
600029 China Southern Airlines Co., Ltd.
601857 PetroChina Co., Ltd.

Constituent companies either joining or leaving the HSSUS or the HSCASUS after the
review will automatically be included in or excluded from the Hang Seng (Mainland and
HK) Corporate Sustainability Index.

Hang Seng Corporate Sustainability Benchmark Index

The following constituent changes will be made to the Hang Seng Corporate
Sustainability Benchmark Index. The total number of constituents increases from 69 to
76.

Inclusion:
Code Company
17 New World Development Co. Ltd.
817 Franshion Properties (China) Ltd.
883 CNOOC Ltd.
998 China CITIC Bank Corporation Ltd. - H Shares
1929 Chow Tai Fook Jewellery Group Ltd.
2196 Shanghai Fosun Pharmaceutical (Group) Co., Ltd. - H Shares
2883 China Oilfield Services Ltd. - H Shares
3898 Zhuzhou CSR Times Electric Co., Ltd. - H Shares

Removal:
Code Company
517 COSCO International Holdings Ltd.

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Hang Seng (China A) Corporate Sustainability Benchmark Index

The following constituent changes will be made to the Hang Seng (China A) Corporate
Sustainability Benchmark Index. The total number of constituents increases from 28 to
29.

Inclusion:
Code Company
601998 China CITIC Bank Corporation Limited

The constituents of the various indexes of the Hang Seng Corporate Sustainability Index
Series are provided in Appendix 3.

6. 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 constituents will increase from 54 to 57.

Inclusion:
Code
Company
HK Share A Share
338 600688 Sinopec Shanghai Petrochemical Co. Ltd.
347 000898 Angang Steel Co. Ltd.
2202 000002 China Vanke Co., Ltd.
6199 601299 China CNR Corporation Ltd.

Removal:
Code
Company
HK Share A Share
564 601717 Zhengzhou Coal Mining Machinery Group Co. Ltd.

7. Hang Seng China A Top 100 Index

The following constituent changes will be made to the Hang Seng China A Top 100
Index. The total number of constituents is fixed at 100.

more…
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Inclusion:
Code Company
000725 BOE Technology Group Co., Ltd.
002142 Bank of Ningbo Co., Ltd.
002415 Hangzhou Hikvision Digital Technology Co., Ltd.
600018 Shanghai International Port (Group) Co., Ltd
600023 Zhejiang Zheneng Electric Power Co., Ltd.
600027 Huadian Power International Corporation Limited
600340 China Fortune Land Development Co., Ltd.
600518 Kangmei Pharmaceutical Co., Ltd.
600583 Offshore Oil Engineering Co., Ltd.
600886 SDIC Power Holdings Co., Ltd.
601225 Shaanxi Coal Industry Company Limited

Removal:
Code Company
000425 XCMG Construction Machinery Co., Ltd.
000630 Tongling Nonferrous Metals Group Co., Ltd.
000709 Hebei Iron and Steel Co., Ltd.
000825 Shanxi Taigang Stainless Steel Co., Ltd.
000937 Jizhong Energy Resources Co., Ltd.
600005 Wuhan Iron and Steel Co., Ltd.
600068 China Gezhouba Group Co., Ltd.
600150 China CSSC Holdings Ltd.
600348 Yang Quan Coal Industry (Group) Co., Ltd.
601333 Guangshen Railway Company Limited
601666 Pingdingshan Tianan Coal. Mining Co., Ltd.

more…
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8. Hang Seng China 50 Index

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

Inclusion:
Code
Company
HK Share A Share
1044 - Hengan International Group Co. Ltd.
1211 002594 BYD Co., Ltd.
1359 - China Cinda Asset Management Co., Ltd.
- 002415 Hangzhou Hikvision Digital Technology Co.,Ltd.
- 600018 Shanghai International Port (Group) Co., Ltd

Removal:
Code
Company
HK Share A Share
1800 601800 China Communications Construction Co., Ltd.
1880 - Belle International Holdings Ltd.
- 000776 GF Securities Co., Ltd.
- 000858 Wuliangye Yibin Co.,Ltd
- 600019 Baoshan Iron & Steel Co.,Ltd.

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.
HANG SENG INDEXES ANNOUNCES INDEX REVIEW RESULTS/ 9

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 8 September 2014)
ADD REMOVE
Nil Nil

Index Information
Number of Constituents (Effective 8 September 2014): 50
Market Value Coverage Ratio* (As at 30 June 2014): 59.2%
Turnover Coverage Ratio* (Second Quarter of 2014): 52.1%

* The universe comprises Main Board primary listings excluding foreign companies

Constituent List (Assuming the rebalancing had been undertaken on 13 August 2014)
Weighting (%) *
Code Company Name FAF (%)^
Before After **
Finance 45.09 45.00
5 HSBC HOLDINGS 100 14.22 14.00
1299 AIA 100 6.41 6.43
939 CCB (H) 35 6.17 6.20
1398 ICBC (H) 85 4.80 4.82
3988 BANK OF CHINA (H) 95 3.63 3.65
388 HKEX 95 2.46 2.48
2628 CHINA LIFE (H) 100 2.14 2.15
2318 PING AN (H) 65 1.66 1.67
11 HANG SENG BANK 40 1.24 1.24
2388 BOC HONG KONG 35 1.13 1.13
3328 BANKCOMM (H) 25 0.64 0.64
23 BANK OF E ASIA 60 0.57 0.58
Utilities 4.62 4.63
2 CLP HOLDINGS 75 1.51 1.52
3 HK & CHINA GAS 60 1.34 1.34
6 POWER ASSETS 65 1.24 1.24
836 CHINA RES POWER 40 0.53 0.53
Properties 9.61 9.47
1 CHEUNG KONG 60 2.49 2.50
#
16 SHK PPT 45 1.96 1.79
688 CHINA OVERSEAS 50 1.19 1.19
4 WHARF HOLDINGS 50 1.11 1.11
101 HANG LUNG PPT 50 0.65 0.66
12 HENDERSON LAND 35 0.64 0.64
17 NEW WORLD DEV 60 0.62 0.62
83 SINO LAND 50 0.51 0.51
1109 CHINA RES LAND 35 0.45 0.45
Commerce & Industry 40.69 40.90
700 TENCENT 60 9.19 9.24
941 CHINA MOBILE 30 6.53 6.59
883 CNOOC 40 3.20 3.21
857 PETROCHINA (H) 100 2.83 2.84
13 HUTCHISON 50 2.73 2.74
386 SINOPEC CORP (H) 100 2.43 2.43
27 GALAXY ENT 55 1.72 1.73
1928 SANDS CHINA LTD 30 1.57 1.57
1088 CHINA SHENHUA (H) 100 1.00 1.01
151 WANT WANT CHINA 55 0.99 1.00
762 CHINA UNICOM 25 0.95 0.96
1044 HENGAN INT'L 65 0.83 0.83
992 LENOVO GROUP 55 0.81 0.81
19 SWIRE PACIFIC A 70 0.78 0.78
494 LI & FUNG 70 0.75 0.75
2319 MENGNIU DAIRY 70 0.65 0.65
1880 BELLE INT'L 55 0.56 0.56
322 TINGYI 35 0.56 0.56
66 MTR CORPORATION 25 0.55 0.55
135 KUNLUN ENERGY 40 0.53 0.53
144 CHINA MER HOLD 45 0.37 0.37
291 CHINA RESOURCES 50 0.36 0.36
267 CITIC PACIFIC 45 0.34 0.34
1199 COSCO PACIFIC 60 0.26 0.26
293 CATHAY PAC AIR 30 0.21 0.21
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 14%, and changes in FAF.
#
FAF changed in this review. New FAF will take effect on 8 September 2014.
(H): H-share company
 Appendix 2
Hang Seng China Enterprises Index
Constituent Change (Effective 8 September 2014)
ADD REMOVE
Nil Nil

Constituent List (Assuming the rebalancing had been undertaken on 13 August 2014)
Weighting (%) *
Code Company Name FAF (%)^
Before After **
939 CCB 35 9.48 10.00
1398 ICBC 85 9.48 10.00
3988 BANK OF CHINA 95 9.20 10.00
857 PETROCHINA 100 8.89 8.66
386 SINOPEC CORP 100 7.63 7.44
2628 CHINA LIFE 100 6.74 6.57
2318 PING AN 65 5.23 5.10
#
1288 ABC 80 3.38 3.52
1088 CHINA SHENHUA 100 3.16 3.08
3968 CM BANK 100 2.79 2.72
2601 CPIC 80 2.61 2.54
728 CHINA TELECOM 100 2.28 2.23
3328 BANKCOMM 25 2.00 1.95
1988 MINSHENG BANK 90 1.92 1.88
998 CITIC BANK 55 1.62 1.58
2328 PICC P&C 75 1.56 1.52
489 DONGFENG GROUP 95 1.47 1.43
914 ANHUI CONCH 95 1.41 1.38
2883 CHINA OILFIELD 100 1.40 1.37
2333 GREATWALL MOTOR 100 1.31 1.28
1211 BYD COMPANY 70 1.30 1.26
902 HUANENG POWER 90 1.09 1.06
1800 CHINA COMM CONS 100 1.03 1.00
916 CHINA LONGYUAN 90 1.00 0.97
1339 PICC GROUP 85 0.97 0.95
#
1359 CHINA CINDA 50 1.15 0.93
1099 SINOPHARM 100 0.91 0.89
1336 NCI 75 0.87 0.85
3323 CNBM 100 0.87 0.84
168 TSINGTAO BREW 55 0.85 0.83
2238 GAC GROUP 100 0.76 0.74
358 JIANGXI COPPER 95 0.75 0.73
6030 CITIC SEC 80 0.72 0.70
390 CHINA RAILWAY 95 0.69 0.67
6837 HAITONG SEC 90 0.68 0.66
2338 WEICHAI POWER 100 0.66 0.64
#
1898 CHINA COAL 75 0.64 0.58
1066 WEIGAO GROUP 100 0.58 0.56
1171 YANZHOU COAL 95 0.51 0.49
753 AIR CHINA 45 0.40 0.39
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 BANK OF CHINA, ICBC and CCB to 10%, and changes in FAF.
#
FAF changed in this review. New FAF will take effect on 8 September 2014.
 Appendix 3
Hang Seng Corporate Sustainability Index Series

Hang Seng Corporate Sustainability Benchmark Index

Constituent List (Effective 8 September 2014)
Code Company Name Code Company Name
1 * CHEUNG KONG 700 * TENCENT
2 * CLP HOLDINGS 715 HUTCH HARB RING
3 * HK & CHINA GAS 728 CHINA TELECOM
4 WHARF HOLDINGS 737 HOPEWELL INFR
5 * HSBC HOLDINGS 762 CHINA UNICOM
6 * POWER ASSETS 763 ZTE
8 PCCW 817 FRANSHION PPT
11 * HANG SENG BANK 857 PETROCHINA
12 * HENDERSON LAND 883 CNOOC
13 * HUTCHISON 891 TRINITY
14 * HYSAN DEV 939 * CCB
16 SHK PPT 941 * CHINA MOBILE
17 NEW WORLD DEV 981 SMIC
19 * SWIRE PACIFIC A 992 * LENOVO GROUP
41 GREAT EAGLE H 998 CITIC BANK
54 * HOPEWELL HOLD 1055 CHINA SOUTH AIR
66 * MTR CORPORATION 1083 TOWNGAS CHINA
69 SHANGRI-LA ASIA 1088 CHINA SHENHUA
83 * SINO LAND 1199 COSCO PACIFIC
101 * HANG LUNG PPT 1208 MMG
168 TSINGTAO BREW 1288 ABC
178 SA SA INT'L 1398 * ICBC
200 MELCO INT'L DEV 1929 CHOW TAI FOOK
215 HUTCHTEL HK 1972 SWIREPROPERTIES
242 SHUN TAK HOLD 2018 * AAC TECH
257 * CHINA EB INT'L 2020 ANTA SPORTS
293 * CATHAY PAC AIR 2196 FOSUN PHARMA
297 SINOFERT 2318 PING AN
316 * OOIL 2331 LI NING
330 ESPRIT HOLDINGS 2343 PACIFIC BASIN
388 * HKEX 2388 * BOC HONG KONG
390 CHINA RAILWAY 2628 CHINA LIFE
494 * LI & FUNG 2883 CHINA OILFIELD
552 CHINACOMSERVICE 3311 * CHINA STATE CON
606 CHINA AGRI 3328 BANKCOMM
659 NWS HOLDINGS 3898 CSR TIMES ELEC
670 CHINA EAST AIR 3968 * CM BANK
688 * CHINA OVERSEAS 3988 * BANK OF CHINA
* This company is also a constituent of the Hang Seng Corporate Sustainability Index and the Hang Seng (Mainland and HK) Corporate Sustainability
Index.

Hang Seng (China A) Corporate Sustainability Benchmark Index

Constituent List (Effective 8 September 2014)
Code Company Name Code Company Name
000001 PING AN BANK 600690 ^ QINGDAO HAIER
000002 CHINA VANKE CO 601088 ^ CHINA SHENHUA
000063 ^ ZTE 601166 ^ INDUSTRIAL BANK
002024 SUNING COMMERC 601288 ^ ABC
600000 ^ SHANG PUDONG 601318 ^ PING AN BANK
600019 ^ BAOSHAN IRON & S 601328 BANKCOMM
600029 CHINA SOUTH AIR 601390 ^ CHINA RAILWAY
600036 ^ CM BANK 601398 ^ ICBC
600050 CHINA UNITED 601628 ^ CHINA LIFE
600089 TBEA CO LTD 601808 CHINA OILFIELD
600098 GUANGZHOU DEVE 601857 PETROCHINA
600104 SAIC MOTOR 601939 ^ CCB
600115 ^ CHINA EAST AIR 601988 ^ BANK OF CHINA
600196 FOSUN PHARMA 601998 CITIC BANK
600600 TSINGTAO BREW
^ This company is also a constituent of the Hang Seng (China A) Corporate Sustainability Index and the Hang Seng (Mainland and HK) Corporate
Sustainability Index.

Number of Constituents:
Hang Seng Corporate Sustainability Benchmark Index 76
Hang Seng Corporate Sustainability Index 30
Hang Seng (China A) Corporate Sustainability Benchmark Index 29
Hang Seng (China A) Corporate Sustainability Index 15
Hang Seng (Mainland and HK) Corporate Sustainability Index 41