20062006Interim Results Interim Results (unaudited)(unaudited)

11 September, 2006

Agenda

Financial HighlightsFinancial Highlights

Updates on APT’s OperationsUpdates on APT’s Operations

Business OutlookBusiness Outlook

Financial HighlightsFinancial Highlights

Interim Results

1H/2006(HK$ M)

1H/2005(HK$ M)

Turnover 208.0 144.3

Loss attributable to Equity Shareholders

(21.1) (10.4)

Turnover Breakdown By Business

49%44%

7%

43%50%

7%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

1H/2005 1H/2006

Broadcasting

Telecom

Other

Turnover Breakdown By Region

62%55%

13% 11% 10% 9%5%

11% 10%14%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

China HK S'pore Indonesia Others

1H/ 20051H/ 2006

Income Statement Breakdown (1)

1H/2006

(HK$ M)

1H/2005

(HK$ M)

Turnover 208.0 144.3

Cost of Services (167.5) (121.1)

Gross Profit 40.5 23.2

Other net income 9.1 22.8

Revaluation gain on investment property

0.1 -

Administrative expenses (35.4) (37.0)

Profit from operations 14.3 9.0

Income Statement Breakdown (2)

1H/2006

(HK$ M)

1H/2005

(HK$ M)

Profit from operations 14.3 9.0

Finance costs (31.0) (8.6)

Share of results of jointly controlled entities (0.5) (2.9)

Loss before taxation (17.2) (2.5)

Income tax (4.5) (8.3)

Loss after taxation (21.7) (10.8)

Attributable to:

Equity shareholders of the company (21.1) (10.4)

Minority interests (0.6) (0.4)

Loss after taxation (21.7) (10.8)

Loss per share – Basic (HK cents) (5.12) (2.51)

Expenses Breakdown

72% 72%

22%

15%

6%13%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Cost of Services Admin. Exp. Finance Cost

1H/20051H/2006

Cost of Services Breakdown

66% 69%

13%17%

12%7% 9% 7%

0%

20%

40%

60%

80%

Depreciation Insurance Licence & Orbit SlotFees

Satellite-basedTelecom

1H/2005

1H/2006

EBITDA Margin

Note: EBITDA Margin represents earnings before interest income / expenses, other income, taxation, depreciation, amortization, impairment loss and share of results of jointly controlled entities as a percentage of turnover.

46%

59%

0%

20%

40%

60%

80%

100%

YE2005 1H/2006

Transponder

Utilization Rates

As at

30 Jun 06

APSTAR V 69.9%

APSTAR VI 40.4%

Assets & Liabilities

*As at 30 June 2006

Total assets HK$3,525 million

Total liabilities HK$1,487 million

Bank borrowings due within one year

HK$ 126 million

Bank borrowings due after one year

HK$ 933 million

Gearing

73%

42%

75%

43%

0%

10%

20%

30%

40%

50%

60%

70%

80%

YE/2005 1H/2006

Debt-equity ratio

Debt-ratio

Cash

*As at 30 June 2006

Free cash HK$228 million

Pledged deposit HK$60 million

Updates on APT’s OperationsUpdates on APT’s Operations

Principal Shareholders

Singasat Pte Limited 20.33%

China Telecommunications Broadcast Satellite

Corporation16.26%

CASIL Satellite Holdings Limited 14.95%

China Aerospace Science & Tech. Corporation 8.85%

Kwang Hua Development & Investment Limited

7.40%

67.79%

(including both direct and indirect interests as of 30 June 2006)

APSTAR V: Boosting Edges

High power satellite based on SS/L

FS1300 at 138° E orbital slot

APT has taken up 25 C & 12 Ku

Provides versatile services including DTH, Internet, VSAT services within Asia Pacific region with inter-connection to USA

Operation mission life over 15 years

Boosting the APT’s competitive edges in the marketplace

APSTAR V: High Power & Bridging Pacific

APSTAR VI: High Power & Bridges Pacific

APSTAR VI: Welcome by customers

High-power satellite based on Alcatel SB4100 with 38 C-band and 12 Ku-band

Replaces APSTAR IA at 134°E

Asia Pacific footprints including Hawaii

Operation mission life over 15 years

Welcome by customers

Signed with Intelsat in December 2005

Expand business with combined satellite capacities and ground resources

Provide broadcasting, telecom & uplink services

Explore additional growth potential in IPTV, uplink services in Asia Pacific region

Strategic Alliance with Intelsat

Satellite TV Broadcasting Platform

Establish satellite TV uplink and broadcasting services platform for broadcasting services under the Broadcasting Licence of Hong Kong

As at June 30, 2006, the Broadcasting Platform uplinks and broadcasts up to 64 satellite TV channels, 21% increase from end of 2005

Provides VSAT, wholesales voice, facility management and teleport uplink services to Hong Kong and Asian telecom operators

Provides two-way satellite internet services and teleport uplink services

Satellite-based External Telecom Services

Met the Code Provisions of the Code on Corporate Governance Practices as required by the Listing Rules.

Established the Nomination Committee and the Remuneration Committee for handling appointments and the emoluments of directors and senior executives.

Set up an Internal Audit Team which reports directly to the Audit Committee.

Set up the Internal Control and Risk Management Committee.

Adopted the Code of Ethical Business Conduct for directors, senior executives and employees and Whistle-blower Protection Policy in compliance with the regulations

Corporate Governance

Business Outlook

The broadcasting and telecom businesses will grow slowly

Market competition will still be fierce due to more supply than demand

The price of transponders will still be subject to pressure

APSTAR V and APSTAR VI continue to boost the competitive edges of the Group

APT Satellite Holdings Limited11 September 2006

www.apstar.com