財經文件編輯一則

The bases and assumptions that the valuer uses for the valuation typically include references to values realized in comparable precedent transactions in the market for properties of similar size, character and location.

The fair value of our investment properties may have been higher or lower if the valuer used a different set of bases or assumptions or if the valuation was conducted by other qualified independent professional valuers.

In addition, upward revaluation adjustments reflect unrealized capital gains of our investment properties at the relevant balance sheet dates and are not profit generated from the sales or rentals of our investment properties, and do not generate any cash inflow to us for potential dividend distribution to our shareholders until such investment properties are disposed of at similarly revalued amounts.

The amounts of revaluation adjustments have been, and may continue to be, significantly affected by the prevailing property markets and may go down as well as up.]

估值师所采用的估值基准准则及假设一般会包括参考市场中类似规模上大小、特点及地点的物业的可比前期交易的变现价值相似的物业在以前可比交易中的变现值。倘若估值师采用不同的基准准则或假设，或者由其他的另一合资格独立专业估值师进行估值，均会使公司则我们投资物业的公允价值有高低之分公平值可能会较高或较低。

此外，重估价值的向上调整反映的是公司投资物业于在相关有关结算日我们投资物业的未变现资本收益增值，而并非出售或出租租售我们投资物业产生的利润溢利，也不会为公司产生任何现金流量用于向公司股东分派股息，除非投资物业按相若的重估价格且直至投资物业以相当的估值额出售，否则亦不会使我们获得现金流而可向股东派发股息。

重估调整金额以往在颇大程度上受地产市场的市况影响，预计未来仍将如此。重估调整金额可能上升，也有可能下跌在过往及日后均受当时物业市场的重大影响，既会上升亦可下跌。]