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The directors of Culture Landmark Investment Limited (formerly known as United Power Investment Limited) (the “Company”) would like to present the Interim Report and unaudited condensed consolidated financial statements of the Company and its subsidiaries (the “Group”) for the six months ended 30 September 2010. The consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows of the Group for the six months ended 30 September 2010, and the consolidated statement of financial position as at 30 September 2010 of the Group, all of which are unaudited and condensed, along with selected explanatory notes, are set out on pages 7 to 32 of this report. BUSINESS REVIEW AND PROSPECTS Consolidated results The turnover of the Group for the six months ended 30 September 2010 was about HK$102 million. Loss of HK$45.6 million for the period was recorded as compared to loss of HK$585.7 million in the previous period. The loss was mainly due to an amortisation of deferred expenditures of about HK$18.6 million, loss in hotel operations of about HK$13.9 million and an amortisation of about HK$7.9 million in respect of intangible assets arising from the acquisition of Hua Rong Sheng Shi Holding Limited (which holds a wholly owned subsidiary and jointly controlled entities, Tian He Culture Holding Co. Ltd and its subsidiaries) (together the “HR Group”). The Group also record loss in entertainment business and wedding services. Such loss was partially offset by income from investment properties and restaurant operations. Hotel operations The business of Dynasty Hotel in Zhaoqing, the People’s Republic of China (“PRC”) recorded a turnover of HK$33.8 million and a loss of HK$13.9 million. The loss was mainly due to depreciation of its assets of HK$10 million and amortisation of payments for leasehold land held for own use under operating leases of about HK$2.4 million. This business had been