Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock code: 190)
(website : www.hkcholdings.com)
VOLUNTARY ANNOUNCEMENT IN RELATION TO CHINA RENEWABLE ENERGY INVESTMENT LIMITED
The board ("Board") of directors ("Directors") of HKC (Holdings) Limited ("Company", together with its subsidiaries, the "Group") refers to the announcement ("CRE Announcement") issued by China Renewable Energy Investment Limited ("CRE") early today regarding an impairment loss provisioning on certain wind farm assets held by CRE and its subsidiaries ("CRE Group") in its unaudited financial statements for the financial year ended 31 December 2012 ("FY 2012") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap.
571, Laws of Hong Kong). CRE is a listed subsidiary of the Company.
As stated in the CRE Announcement, CRE is expecting to see a significant impairment loss to be provided on certain wind farm assets of CRE Group for the financial year ended 31
December 2012 with reference to the internal management accounts of CRE Group for the year. The impairment loss under consideration is mainly attributed to the continuous significant drop in the traded market unit price of Certified Emission Reduction ("CER") under the Clean Development Mechanism and its adverse impact on the estimated recoverable amount attributable to future CER income in the business valuation of the wind farms assets. Neither the impairment loss provisioning for CRE Group's wind farm assets nor the extent of its attendant impact on the performance of CRE Group as a whole for FY 2012 has been ascertained. However, CRE Group is expecting a significant consolidated loss, the exact amount of which is yet to be determined, in its audited financial statements for FY 2012. The impairment loss provisioning under consideration by CRE is a non-cash item in compiling the annual audited financial statements of CRE Group. Shareholders of the Company may refer to
the CRE Announcement for further information.
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The Board wishes to clarify that the assessment of impact, if any, on the financial position and performance of the Company and the Group as whole in its consolidated financial statements for FY 2012 that may arise from the above impairment loss provisioning and the effect on the performance of CRE Group is not yet available. As far as the Company and the Group is concerned, such assessment could not be made unless and until such information is made available by CRE.
Nevertheless, the Board believes that the impact on the Group arising from the above matters relating to CRE Group will not bring about any material adverse effect on the normal operations and current cash position of the Group as a whole. The management of the Group will continue to monitor the development in that regard and will issue further announcements as and when appropriate.
The Company's consolidated financial statements for FY 2012 is expected to be published before the end of March 2013.
By order of the Board
HKC (HOLDINGS) LIMITED CHANG Li Hsien, Leslie
Executive Director and Chief Executive Officer
Hong Kong, 23 January 2013
As at the date of this announcement, the Board comprises ten directors, of which three are executive directors, namely, Mr. OEI Kang, Eric, Mr. CHANG Li Hsien, Leslie and Mr. CHUNG Wai Sum, Patrick; three are non-executive directors, namely, Mr. OEI Tjie Goan, Ms. YEN Teresa and Mr. WAN Ming Sun; four are independent non-executive directors, namely, Mr. FAN Yan Hok, Philip, Mr. CHUNG Cho Yee, Mico, Mr. CHENG Yuk Wo and Mr. Albert Thomas DA ROSA, Junior.
* For identification purposes only
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