WAFER SYSTEMS LIMITED * 32342C

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2 WAFER SYSTEMS LIMITED * 32342C

3 i

4 (1) (2) (3) ii

5 i ii iii

6 iv

7 v

8 (i) (ii) (iii) NetScoutNAICheck PointRadvision PictureTel 1

9 (1) IP IP IP IP (2) (3) (i)(ii)(iii) 2

10 (iv)(v)(vi) (vii)voip (i)(ii) (iii) (i) (ii)(iii) (i) (ii) 3

11 IP IPIP 1.0IP2.0 IP IP IP OSSBSS Sybase IP 4

12 300 Asiabondportal.com* * * * * * IVRS* Kraft Foods Limited* * Pillsbury Sharp-Roxy (Hong Kong) Ltd.* * Sun Microsystems of California Limited* Sybase* * * 5

13 * 6

14 50%15% 7

15 (i) (ii) (iii) (iv) 8

16 1,700,0003,300,000 8,500,000 3,500,000 3,500,0001,500,000 1,200,000 2,300, ,000600, ,000 9

17 13 2,563,0002,563,000115,000 2,448, ,000 2,216,000 2,216,000 (i) 95% (ii) 5% 10

18 (ii)5% 2,216, , ,00010% 35, ,000 35,000 95% 254,000 11

19 100% 70% 10% 10% 10% 80% 20% 35% 35% 30% (1) (2) 80%20% 3 (3) (4) 12

20 78, ,978 6,707 10, ,259 85, ,579 (62,409) (109,515) 22,930 40,064 (8,685) (12,505) (1,903) (2,031) (41) (666) (1,651) (3,297) (7,035) (12,288) 1,552 1, (4,248) (3,342) (22,456) (31,866) 474 8, (191) 877 8,007 (8,356) (7,479) (1,087) (7,479) (559)

21 1. 26,800 24,066 14,716 45,179 29,951 43,735 3,168 10,568 10,704 26,031 85, ,579 21,238 10,416 64, ,163 85, , ,622 28,988 5,998 8, ,259 22,930 40, ,0008,007, ,000,000165,221,000 14

22 877,00010,058, ,435,000261,360, ,007 2, , , ,221 70,827 12,667 12,755 5,768 12, , , ,000,000 85,000,00075% (i) (ii)(iii) 27% 15

23 NetScoutNAICheck PointRadvisionPictureTel

24 17

25 18 iiiiii iv

26 ,972, ,268, ,000, (1) 52,020,0003,952,000 (2) (3) 278,268,000 (4) 8,007, ,221,000 19

27 (5) 10,058,000261,360,000 (6) (7) ,268, ,071, (8) 278,268, ,071,000 19,000,000 6,000,000 4,000,000 3,000,000 2,000,000 4,000,000 20

28 4,100,000 2,000,000 2,100,000 21

29 Woodstock 56,400, % 1,271, ,460, % 17,639, ,780, % 19,500,000* North 22 Nominees 36,900, % 831, North 22 Capital 19,652, % 442, Universal 10,652, % 240, Winsley 11,252, % 253, Falcolner 11,200, % 252, ,020, % 28,611, ,952, % 2,173,

30 1. WoodstockWoodstock 25% Woodstock 25% 2. 70,826,563 34,875,00017,437,50050% 50%35,413, ,048, ,188, % ,400, % ,800, % ,660, % ,000, % ,437,500 20,048,1007% % 12 23

31 ,045,000 1,718 4, ,2004, ,676, North 22 NomineesNorth 22 Nominees North 22 Technology Services Group Limited North 22 Nominees North 22 CapitalNorth 22 Nominees North 22 Nominees 24

32 5. North 22 CapitalUniversal13.8%John Tu 13.8% 13.8%Falcolner13.8% 13.8%3.45%Belicia Capital Limited13.8% Apocalypse Investments Limited13.75%North 22 CapitalNorth 22 Capital North 22 Capital North 22 Capital North 22 Capital North 22 CapitalNorth 22 Capital North 22 Capital2,000 North 22 Capital4, Universal North 22 Technology Services Group LimitedNorth 22 Capital Universal Universal UniversalUniversal2,000 Universal4, WinsleyWinsley WinsleyFalcolner Winsley Winsley Winsley2,000 Winsley4, Falcolner1947 Falcolner Falcolner 25

33 WinsleyFalcolner Falcolner Falcolner2,000Falcolner 4,000 (i)(ii) (iii) Woodstock 56,400, % 56,400, % 48,460, % 86,523, % 27,780, % 35,456, % North 22 Nominees 36,900, % 36,900, % North 22 Capital 19,652, % 19,652, % Universal 10,652, % 10,652, % 0 0% 11,913, % Winsley 11,252, % 11,252, % Falcolner 11,200, % 11,200, % 52,020, % 52,020, % 3,952, % 3,952, % 26

34 25%Woodstock 25% ,676,745 27

35 Woodstock 56,400, % 12 48,460, % 12 27,780, % 12 North 22 Capital 19,652, % 12 North 22 Nominees 36,900, % 12 Winsley 11,252, % Falcolner 11,200, % 12 Universal 10,652, % 12 North 22 CapitalNorth 22 Nominees6 12 FalcolnerUniversal 12 Woodstock 12 56,400, ,460,000 28

36 12 27,780, Woodstock North 22 Nominees 12 36,900, North 22 Nominees North 22 Capital 12 19,652,000 UniversalJohn TuFalcolnerBelicia Capital LimitedApocalyse Investments Limited 12 North 22 Capital Misa Yuen 12(i) North 22 Capital(ii)North 22 Capital 29

37 12Misa Yuen 12 Universal 12 Belicia Capital Limited 12 Falcolner 12 Apocalypse Investments Limited Falcolner 12 11,200,000 Universal 12 10,652,000 30

38 Applied Materials Inc. Asiabondportal.com Asiabondportal.com Inc. Asiabondportal.com BVI 31

39 Caterpillar Inc. Caterpillar Check Point Check Point Software Technologies Ltd. Check Point Cisco Systems, Inc. Coca-Cola 32

40 ECNI ECNI Limited Falcolner Falcolner Limited 33

41 IDC International Data Corporation Infa TechnologiesChinaLtd. 25 Infonet Woodstock 34

42 IVRS IVRSInternationalLtd. IVRS 333 Lucent Technologies Asia/Pacific Ltd. 35

43 Motorola (China) Electronics Ltd.Motorola, Inc. NAI Network Associates, Inc. NAI 16.7% NetScout NetScout Systems Inc. NetScout Netsourcing NetTasking Investments (Singapore) Pte Ltd NetSourcing.net (Singapore) Pte Ltd NetTasking NetTasking NetTasking Inc.NetTasking.com Holdings (Cayman) Co. Ltd.Netsourcing NetTasking NetTaskingNetTasking 36

44 52,020,000 VPN Nokia Internet Communications North 22 Capital North 22 Capital Partners Inc. North 22 Nominees North 22 Nominees Limited 7,803,000 15% 37

45 7,803,000 PictureTel PictureTel Corporation PictureTel Pillsbury The Pillsbury Company Pillsbury

46 55,972,000 52,020,0003,952,000 Polycom Polycom, Inc. Polycom 39

47 Radvision Radvision Ltd. IP Radvision ,952, North 22 Nominees North 22 Capital Sony Corporation 40

48 Woodstock Sybase Sybase Inc. Sybase Universal Universal Chinese Limited Falcolner 41

49 Wafer Systems (China) Limited Wafer Systems (Singapore) Pte Ltd

50 Winsley Winsley Management Limited Woodstock Woodstock Management Limited % 43

51 ADSL ATM (ATM) CMM Capability Maturity ModelSoftware Engineering Institute CMM (SE-CMM) 44

52 DMZ DSLAM (DSL)ADSL DSL DSL 10Mbps H.320 H.323 HDSL 2Mbps IETF 45

53 IP IP Mbps 46

54 IPOSSBSS VoIP IP IPOSSIP OSSBSS IP 47

55 PKI Public Key Infrastructure QoS RAS RSVP QoS RTCP RTP QoS RTP IETF RTSP IETF 48

56 SDSL TCPIP VDSL 52Mbps Mbps Mbps52Mbps VoIP 49

57 xdsl ADSL HDSLSDSLVDSL XML 50

58 131,000,000 96%4%6,000,000 51

59 72% 30% 30 30% ECNI30,000, ECNI 52

60 53

61 46%56% 54

62 %10% 40%32 38,680, % % % % % %365 54% 39.68%58.48% 22,620,000 8,500,000 55

63 5,000,000 3,000, ,000 38,063, % 12.03%0.01 7,676, % 2.68% 11,913, % 4.11% 25.76% 10.55% 20.28%Woodstock 16.79% 28.18%23.35% 56

64 57

65 58

66 50% 59

67 Falcolner Falcolner3,952,000 12Falcolner % 4.02%Falcolner % 60

68 (a) (b) (c) 55,972,000 61

69 4,000 62

70 333 63

71 1 7 8C A 158B 32 12B

72

73

74 Century Yard Cricket Square Hutchins Drive George Town Grand Cayman Cayman Islands British West Indies

75 Huntlaw Building P.O. Box 2804 George Town Grand Cayman Cayman Islands British West Indies ACIS, ACS FCCA Bank of Butterfield International (Cayman) Ltd. Butterfield House 68 Fort Street P.O. Box 705 George Town Grand Cayman Cayman Islands British West Indies 68

76

77 1)2) 3) IDC %212IDC % 22.3% % % 20.4%

78 IDC ,000, ,000, i) ii) 32550,000,000iii) 71

79 1, % 49%50% IPIP IPIP 72

80 IPNSPsIP NSPsIP IPIPVPNVoIP IP IP IP IP IDC 38.9%NSPs IPIP 12 IP IDC844,700, % 625,100, % 73

81 IDC 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 IDC 74

82 IDC % % IDC 15.4% IDC 38.44%52,750, ,270,000 75

83 IP IPIP IP VoIPIP 76

84 IDCIP % IP IP IP

85 3 12 IP IP IP 78

86 5 79

87 20.28% 17.41% 9.98% 13.26% 7.06% 4.04% 4.02% 3.83% 20.12% 100% 100% 100% 100% 100% 1. WoodstockWoodstock 25% Woodstock 25% 2. 70,826,563 34,875,00050% 17,437,50050% 80

88 35,413, ,048, ,188, % ,400, % ,800, % ,660, % ,000, % ,437,500 20,048,1007% % ,045,000 1,718 4, ,2004,000 81

89 ,676, North 22 NomineesNorth 22 Nominees North 22 Technology Services Group Limited North 22 Nominees North 22 CapitalNorth 22 Nominees North 22 Nominees 5. North 22 CapitalUniversal13.8%John Tu 13.8%Thomas C. K. Yuen Family Trust13.8%Falcolner 13.8% 13.8%3.45%Belicia Capital Limited 13.8%Apocalypse Investments Limited 13.75%North 22 Capital North 22 CapitalNorth 22 Capital North 22 Capital North 22 Capital North 22 Capital North 22 Capital North 22 Capital 2,000North 22 Capital4, WinsleyWinsley WinsleyFalcolner WinsleyWinsley Winsley2,000 Winsley4,000 82

90 7. Falcolner1947 Falcolner Falcolner WinsleyFalcolner Falcolner Falcolner2,000Falcolner 4, Universal North 22 Technology Services Group LimitedNorth 22 Capital Universal Universal UniversalUniversal2,000 Universal4, Winsley4.04% Falcolner4.02%WinsleyFalcolner 20.12% 28.18% 83

91 (i) (ii)(iii) Woodstock 56,400, % 56,400, % 48,460, % 86,523, % 27,780, % 35,456, % North 22 Nominees 36,900, % 36,900, % North 22 Capital 19,652, % 19,652, % Universal 10,652, % 10,652, % 0 0% 11,913, % Winsley 11,252, % 11,252, % Falcolner 11,200, % 11,200, % 52,020, % 52,020, % 3,952, % 3,952, % 25%Woodstock 25% 84

92 6,000,00046,500,000 Wafer Limited Wafer Telecom (Singapore) Pte. Ltd. (i)(ii) Daytona Developments LimitedWoodstockNorth 22 NomineesNorth 22 CapitalWinsleyFalcolnerUniversal WoodstockNorth 22 NomineesNorth 22 Capital WinsleyFalcolnerUniversal3,381,000 2,999, ,999,900Daytona Developments Limited Woodstock1,128, %North 22 Nominees737, %North 22 Capital393, %Winsley 225,0007.5% Falcolner303, %Universal213, % 85

93 (i) 86

94 (ii) (iii) (iv) 1,700,0003,300,000 8,500,000 3,500,000 3,500,0001,500,000 1,200,000 87

95 2,300, ,000600, , % 70% 10% 10% 10% 80% 20% 35% 35% 30% 88

96 (1) (2) 80%20% (3) (4) 89

97 90

98 13 2,563,0002,563,000115,000 2,448, ,000 2,216,000 2,216,000 (i) 95% (ii) 5% 91

99 (ii)5% 2,216, , ,00010% 35, ,000 35,000 95% 254,000 Netsourcing2,000,00015,500,000 3,859,000 Netsourcing NetTasking 92

100 IP1.0 IP 2.0 IP2.0CORBA IP2.0 2,500,00019,500,000 * 41 30%81% 10% 93

101 49,950200,00025% 15%3 100,905 50% 50%99,095 IP1.0 IPIP2.0 IP (8)(9) 16.7% 400,000 94

102 6.1% IP Wong Yun Fai SpencerSiu Yan WoWong Yun FaiSpencer 95

103 Harefield Limited * * * * # 96

104 600IP1.0 85,000,000 69%31% PictureTel Check Point IP1.0 IP 97

105 ,500,00019,500,000 * 150,000,000 75% 150,000, ,000,00092% 98

106 80084% 16% PictureTelPolycom IPIP 99

107 IP1.0 IP2.0 IP2.0 CORBAIP2.0 IP 3.0 NAI

108 % ,000,00044% 16.7% IP 101

109 23,700,000 17,300,000 41% 18077% 23% IP 102

110 IP3.0 OSSBSS Check Point NAIYear 2001 Best Performance Sniffer Reseller of Hong KongNokia Reseller of the Year in Greater ChinaNAI 103

111

112 (i)(ii)(iii) ,000,000150,000,000 23,000,00040,000,

113 (i)(ii)(iii) OSSBSS OSSBSS (i)(ii)(iii) 106

114 (iv)(v)(vi)(vii) VoIP(i) (ii)(iii) NetScoutNAICheck PointRadvisionPictureTel 107

115 IP RSVPRTPRTCPRTSP VoIPIP IPH.323IP H.320ISDN IP PKI 108

116 (i)(ii) (iii) (i) (ii) 24 Wafer Help Desk V1.0 Wafer Help Desk V

117 110

118 IPOSSBSS CMMIP IP IP IPPSTNADSL 111

119 OSSBSSIP OSS BSSOSSBSS OSSBSS IP OSSBSS 112

120 42 113

121 Channel of the Year Award Nokia Reseller of the Year in Greater China NAIYear 2001 Best Performance Sniffer Reseller in Hong Kong Sybase IP IP IP 114

122 NetScoutNAICheck PointRadivisionPictureTel

123 40%32% 13%10% 25%7% 5% 116

124 %60%10% 112 IP 35 IP30% 70%IP 67%75% 46%56% 117

125 NAICheck PointPictureTelNetScout PictureTel Radvision NetScout NAICheck Point 88%82% % 118

126 NetScoutNAICheck Point RadvisionPictureTel 119

127 (i) (ii) (iii) (a) (b) (iv) (v) (i) (ii) 120

128 (iii) (iv) NetScout NetScout (i) (ii) NetScoutNetScout NetScout NetScoutNetScout (iii) NetScout (iv) NetScout NetScoutNetScout (v) NetScout NetScout (vi) 121

129 NAI NAINAI NAIFullbase Systems LimitedNAINAIFullbase Systems Limited Check Point Check PointCheck Point Check Point Radvision Radvision (i) (ii) Radvision RadvisionRadvision (iii) RadvisionRadvision RadvisionRadvision (iv) Radvision Radvision (v) 122

130 PictureTel PictureTel (i) (ii) PictureTelPictureTelPictureTel PictureTel (iii) PictureTelPictureTel PictureTel PictureTel (iv) PictureTelPictureTel PictureTelPictureTel (v) 7,500,000 6% 2,000,0004,000,

131 603,0001,236, % % 12 50% 2 100% 1,240,000 4,500, % % % 12 75% 2 100% 30% 60%10% ,0003,500,

132 (i) (ii)(iii) 12%17% 732, ,0001% 38,680, % 22,620, NetScoutNAI 125

133 IP 4,481,000 4,026, (i)iposs BSS (ii) 126

134 127

135 34 (i) 128

136 95% (ii) 5% Wafer LimitedWafer Limited 254,000 1,000, (3) ,000,

137 Woodstock 50%17,437,500 (i) 4,188,1003,400,0004,800,0004,660,0003,000,000 17,437,500 (ii) 50%17,437, ,188, % ,400, % ,800, % ,660, % ,000, % ,437,500 20,048,1007%

138 7% %35,413,282 48,460, % HSBC Private Equity Technology (Asia) Limited Woodstock 131

139 (1) (14) (2) (3) (4) 48,460,000(i)50%35,413,282 (ii)13,045,000 (iii)4,0001, ,676,

140 133

141

142 IP Picture TelPolycom IP3.0 IP OSSBSS IP IP

143 Picture TelPolycom IP IP IP3.0 OSSBSS1OSSBSS1 OSSBSS2 136

144 IP IP 137

145 IP OSSBSS2 OSSBSS3 3 IP IP IP 138

146 OSSBSS3 3 IP IPOSSBSS IP IP 139

147 IPOSSBSS IPOSSBSS IP IP 140

148 IPOSSBSS IPOSSBSS 19,000,000 6,000,000 4,000,000 3,000,000 2,000,000 4,000,

149 4,100,000 2,000,000 2,100,000 10,000,000Grand Leader Global Limited600,000Grand Leader Global Limited (1) (2) (3) 142

150

151 Case Communications Limited1988 Wafer Limited Wafer Limited HSBC Private Equity (Asia) Limited HSBC Private Equity (Asia) LimitedCDC Capital Partners Nagle Edinburgh University HSBC Private Equity (Asia) Limited HSBC Private Equity (Asia) Limited University of Bristol 144

152 University of Southern Queensland China Vantage Technology Capital Limited Donaldson Lufkin & Jenrette Asia Ltd. (DLJ) DLJAsia Pacific Investment Banking GroupDLJ Credit SuisseDLJ Stanford Graduate School of Business Cornell University 750,000 Tsoi Ha CPA Limited Association of Certified General Accountants Glycel Far East Co., Limited 145

153 ST Computer Systems (HK) Limited Jardine Office Systems Loughborough University of Technology 46 Sybase Inc.Sybase Inc. Simens NixdorfUnisys 750,000 UniversalNorth 22 Capital NetTasking 146

154 Datacraft IT ClubSME Club 147

155 ,079,0001,205,000 74, ,003 35,000 5,000,000 5% 10% 148

156 120,

157 485 14%20%

158 10% Woodstock 56,400, % 56,400, % 48,460, % North 22 Nominees 36,900, % 36,900, % 1. Woodstock 2. North 22 Nominees Woodstock 56,400, % 56,400, % 48,460, % 27,780, % 151

159 1. WoodstockWoodstock 3,000, % (i) (ii) (iii) 12(a) (b) 152

160 12 Woodstock 5% North 22 Nominees 36,900, % 36,900, % North 22 Capital 19,652, % 1. North 22 NomineesNorth 22 Nominees 2. North 22 CapitalUniversal13.8%John Tu13.8%Thomas C.K. Yuen Family Trust13.8% Falcolner13.8% 13.8%3.45%Belicia Capital Limited 13.8% Apocalypse Investments Limited 13.75%North 22 Capital 12 (i) (ii)

161 (iii) 12(a) (b) 12 North 22 Nominees UniversalJohn TuFalcolnerBelicia Capital LimitedApocalypse Investments Limited 12 North 22 Capital Misa Yuen 12(i) North 22 Capital(ii)North 22 Capital 12Misa Yuen 12 Universal 154

162 12 Belicia Capital Limited 12 Falcolner 12 Apocalypse Investments Limited Falcolner 11,200, % Universal 10,652, % 1. Falcolner 2. Universal Falcolner 12 (i) 155

163 (ii) (iii) 12(a) (b) Universal 12 (i) (ii) (iii) 12(a) (b) 156

164

165 500,000,000 5,000, ,248,000 2,262,480 52,020, , ,268,000 2,782,680 (i)177,777,800 (ii) 35,413,28213,045,000 (iii) 4,000North 22 Capital UniversalWinsleyFalcolner1,7182,2002,0002,0002,000 25% 48,460, % 20,048, ,188, % ,400, % ,800, % ,660, % ,000, %

166 27,780, % ,676,745 7,803,00015% 11,913, % 159

167 30% (a) 20% ; (b) 160

168 10% 161

169 55,800,000 2,950,00015,269,000 2,706,00034,875,000 34,875, (1) 21 (2) 31 (3) 7,750,000 23,250,000 (4) 7,750,000 23,250,000 (5) 7,750,

170 (6) (5) 1,500,0003 1,500,000 Woodstock 150,000,000WoodstockNorth 22 NomineesNorth 22 Capital UniversalWinsleyFalcolner 50% 35,413,28250%20,048,100 1,550,00013,950,000 7,750,000 11,625,000 5,035, ,000 29,190,000 17,268,000 1,190,00026,190,000 30,190,

171 24,631,000 6,479,00040,548, ,000 10,510,00017,268,000 3,302,0002,950,000 15,269,0002,706,00015,500,000 9,620,0005,014,000 1,087,0001,786,000 34,875, % 164

172 17,437,500 20,048,10050% 17,437,50035,413,282 29,190,000 20,926,000 10% 50% 25% 543, ,000272,

173 150,000,000WoodstockNorth 22 NomineesNorth 22 CapitalUniversal WinsleyFalcolner

174 78, ,978 6,707 10, ,259 85, ,579 (62,409) (109,515) 22,930 40,064 (8,685) (12,505) (1,903) (2,031) (41) (666) (1,651) (3,297) (7,035) (12,288) 1,552 1, (4,248) (3,342) (22,456) (31,866) 474 8, (191) 877 8,007 (8,356) (7,479) (1,087) (7,479) (559)

175 1. 26,800 24,066 14,716 45,179 29,951 43,735 3,168 10,568 10,704 26,031 85, ,579 3,000,00010% 67,000,000114% 207%143%234% 21,238 10,416 64, ,163 85, ,579 11,000,00051% 75,000,000117% 2. 16,622 28,988 5,998 8, ,259 22,930 40,

176 3. 877,0008,007, ,000,000165,221, ,00010,058, ,435,000261,360, ,007 2, , , ,221 70,827 12,667 12,755 5,768 12, , ,360 85,000,000 78,000,00092% 169

177 69%31% 23,000,000 27% 72%26% 8,700,000 39%39 4,200,000 19% 3,000,000 13% 16%25.5% 403, ,000 1,149, , % 170

178 877, ,000,000 75% 142,000178, ,000,000 92% IP 18047,000 40,000,000 75% 75% 27% 32,000,000 22,000,00042% 171

179 39% ,205,000 1,079,00012% 7%10% 75%5,300,000 2,638,0005,802,000 12%18%3%4% 105%600, % 732,000626,000 3%2% 172

180 455,000 51%500, ,000 16% 27% 50% 15% 50% 15% 50% 173

181 8,007, , % 75% 1,552,000 40%32% 13%10% 67%75% 46%56% 5% (i)north 22 Capital Woodstock Winsley North 22 Nominees Falcolner Universal(ii) (iii) (a)46,500,000 46,500,000(b)1,687,

182 (a) 11,625,000(b) 34,875,00070,826,563 (c)260, (i) (a)50% (b) 50% (ii) (i) (iii) 13,045, (i) ,777,

183 34,875,000 70,826, ,750,000 7,750,000 7,750,000 11,625,000 WoodstockNorth 22 NomineesNorth 22 CapitalUniversalWinsleyFalcolner150,000,000 13,045,

184 Woodstock 50%17,437,500 (i) 4,188,1003,400,0004,800,0004,660,0003,000,000 17,437,500 (ii) 50%17,437, ,188, % ,400, % ,800, % ,660, % ,000, % ,437,500 20,048,1007% %12 177

185 % 35,413,282 1,550,00013,950,000 7,750,000 11,625,000 48,460, % Woodstock (1) (2) ,777, ,777,

186 (3) 14 (4) (5) 48,460,000(i)50%35,413,282 (ii)13,045,000(iii) 4,0001, ,676,745 7,676,745 11,913, % 6.58%

187 (i) (ii)

188 22,365 (3,319) 19,046 (3,677) 17, ,581 51, ,437, ,413, ,045, ,000,000 23,000, ,268,

189 19,960,000 20,059,00099,

190 ,676,745 7,676,745 11,913, % 6.58%

191 (i) (ii)

192 52,020,0003,952,000 7,803,000 (i) (ii) (iii) 185

193 (iv) (v) (vi) (vii) (viii) (a) (b) (ix) (a)(b) (x) (a) 186

194 (b) (xi) (xii) (A) 12 Woodstock (B) (a) 13.18(1) 13.18(4) (b) 187

195 (C) (D) (E) (i) 6 (ii) % (F) 3.5% 10,000,000 93%7% 188

196 6.6% 6.6% (i) 189

197 (ii) (iii) (iv) 6.6% (v) 190

198 (a) (b) 30 (i)(ii) 52,020,000 3,952, % 22.3% 191

199 S %0.007% 0.005%4,0002, ,803,000 15% Woodstock Woodstock 7,803,000 (i) (ii) (a)(b) Woodstock 22.3% 192

200 /

201 15 21 Wafer Systems (China) Limited ECNI Limited 194

202 195

203 1 5 85, ,579 3 (1,651) (3,297) (62,409) (109,515) (8,685) (12,505) (1,903) (2,031) (41) (666) (7,035) (12,288) 3,615 9, ,552 1, (4,248) (3,342) , (191) 877 8,007 (8,356) (7,479) 26 (1,087) (7,479) (559)

204 ,950 4, ,462 3,319 4,412 8, ,288 5, ,926 37, ,121 8, ,419 11, ,200 21, ,129 10,386 66,083 95, (5,842) (18,615) 20 (15,500) (15,500) 21 (19,400) 22 (10,188) (17,091) (2,641) (5,435) (297) (2,550) 23 (792) (556) (2,349) (55,216) (61,540) 10,867 33,561 15,279 41, (19,375) (19,375) (4,096) 22, , ,149 20, ,087 (7,479) (559) (4,096) 22,

205 27.a (8,061) 2,621 1, (4,248) (3,342) (3,141) (2,631) (234) (400) (2,480) (3,399) 158 (1,503) (2,523) (3,825) (6,322) (15,261) (6,332) 27.b 19,400 (749) (946) 18,651 (946) 3,390 (7,278) 17,097 20, d 20,487 13,

206 10, % 10, % Wafer Systems (China) 10, % Limited 210, % (ii) 350, % (ii) 100,950(iv) 100% (ii) Wafer Systems 2 100% (Singapore) Pte Ltd (iii) ECNI Limited 10, % (Creative Hub Technology Limited) (i) 199

207 (ii) 15 (iii) Wafer Systems (Singapore) Pte Ltd Wafer Systems (Singapore) Pte Ltd (iv) 200,0001,552, ,950783,000 (i) (ii)iii 200

208 (i) (ii) (iii) 201

209 (i) (ii)(iii) (iv)(v) (vi) 202

210 203

211 42,665 22,099 * (21,238) (10,416) (9,943) (5,882) ** (13,135) (9,098) *** (1,651) (3,297) * 9,737 4,477 10,873 2, ,676 21,238 10,416 ** 3,392 2,665 1, ,076 1,474 1,558 1,

212 *** (32) 1,076 1, ,353 1,651 3,297 12,434 17,792 8, ,491 18,121 8,481 17,792 20, ,000354,000 (i) 3,461,000(ii)3,520,000 (iii)1,500,

213 3.a * NetTasking Inc.** 1,552 *** ,000,00030,190, ,000, * ** NetTasking Inc. Wafer Systems (Singapore) Pte Ltd 15,500,000 Netsourcing.net (Singapore) Pte Ltd 3,859,

214 Netsourcing.net (Singpaore) Pte LtdNetTasking Inc. NetTasking.com Holdings (Cayman) Co Ltd25 Wafer Systems (Singapore) Pte Ltd200,000 NetTasking Inc.Wafer Systems (Singapore) Pte Ltd NetTasking Inc.1,552,000200, , ,000 *** 16.7%12 78, ,978 6,707 10, ,259 85, ,579 * 1,552 1, , ,842 * 4 40%32% 207

215 9,814 14,481 (1,129) (1,976) 8,685 12, , , ,441 2, , ,903 2, , ,

216 1,078 1, ,153 1,205 1,000,0011,500, ,000, ,079,0001,205,000 74,000 3,551 3, ,554 3,

217 1,000, ,000,0011,500, % 30%90% 5%1,000 14%20% 183,000362, ,

218 (1,149) 190 (403) % 25.5%24.5% 27% 50% 15% 50% 15% 50% 211

219 5% 17% 877,0008,007, ,000,000165,221, ,000 10,058,000168,435,000261,360, ,007 2, ,

220 150, ,221 70,827 12,667 12,755 5,768 12, , , , % 213

221 207 1,718 1, , , ,480 (214) (39) (253) 552 3,160 2, , ,051 1, ,214 (694) (694) 1,009 5,211 3, , , ,903 (65) (24) (89) 294 1,535 1, , , ,031 (21) (21) 495 2,570 1, , ,625 1,067 2, ,641 1, ,

222 1,503 1,503 2,523 1,503 4, ,462 3,319 1,462 2,170 3, ,636 2,983 7,491 (695) (1,931) 2,288 5, ,000 3,348,000506, , ,000948,

223 030 6,820 12, ,338 6, ,760 8, ,776 2, , ,816 38,678 (890) (938) 16,926 37, , , , , ,419 11,496 1,230,0003,756,

224 3,071 5,842 11,123 4,421 5,842 18, ,500 15,500 19,375 19,375 34,875 34,875 (15,500) (15,500) 19,375 19,375 34,875,0004,500,0007% 150,000, (i)17,437,500 2,250, ,413,

225 24 (ii)17,437,5002,250,000 20,048, (iii)150,000,000 1,550,000 13,950,0007,750,000 11,625,00031.a ,045,000 19,400,000 2,500, ,777, ,590 9, ,356 7, , ,188 17,

226 * 792 * , ,000 5, , , , , , , ,778 1, ,000, ,000, ,000, ,000,

227 ,777, ,400, ,777,800 (i) ,000, ,000 27,733, ,333 (ii) 422,000, ,000 5,000,000500,000, (iii) 1,500, ,044, ,777, ,149 3,149 19,357 (1,501) (946) 3,149 20,

228 ,087 10% 50% 25% 543, ,000272,

229 474 8,198 (1,107) (711) 4,248 3,342 1,903 2, (1,552) 693 (2,599) (13,536) (20,814) (5,630) 9, (1,065) (8,340) 4,275 6,903 1,031 4,396 (41) 2, (792) (8,061) 2,621 3,383 34, ,400 (749) 3,383 34,875 19,400 19,400 (19,400) (946) 21,837 34,875 27,777,

230 17,200 21,438 9,129 10,386 (3,071) (5,842) (11,123) (4,421) 20,487 13,209 78, ,978 6,707 10, ,259 85, , , , ,007 1,351 1, ,944 2,697 1,391 2, ,090 3,082 3,983 6,

231 39,120 54, ,983 4,121 28,748 43,320 70, ,280 16,327 38,256 58,264 42,659 74,591 80,915 * 26,800 24,066 58, ,513 85, ,579 (2,408) (498) 3,362 6,975 (77) 1, ,007 1,294 1,321 2,689 5,416 3,983 6,737 * 224

232 30,574 35,886 39,921 67,394 70, , , , , , , ,00099,050 1,552,000200, ,000100,950 c. 497,0008,709,

233 23,200,00034,338,00013,846,000 8,822,000 (i) (ii) (iii) (iv) 17,200,000 21,438,000 20,000,00026,190,000 20,000,00030,190,000 a. 17,437, ,413,282 17,437,50020,048, ,000,000 1,550,00013,950,000 7,750,000 11,625,000 b ,677,000 27,777, c ,913,000 d. 226

234 1 22,584 19, ,096 2 (19,400) (123) (1,292) (19,523) (1,292) (19,277) 1,804 3,307 21, , ,149 20,059 (76) (99) 3,307 21,

235 ,574 20,790 (866) 22,584 19,934 (i) (ii) 3,073,00019,960,000 3,149,00020,059,00076,000 99,000 1,500,

236 229

237 3 3.a 106, ,262 (72,352) (115,397) (8,685) (12,505) (1,903) (2,031) (41) (666) (13,135) (9,098) (7,035) (12,288) 3,615 9,277 1,552 1, (4,248) (3,342) 474 8, (191) 877 8,

238 (a) (b) (c) (d) 231

239 (e) A.H.K.I.S., M.R.I.C.S. 1710

240 C

241 A219A236A

242 A

243 ,664 46,640 46,

244 , ,

245 C ,068 26,

246 , ,652 12,

247 ,855 6, A219A236 A ,306 20,

248 A ,600 11, ,334 21,

249 (a) (b) 242

250 243

251 244

252 (aa) (bb) (cc) (dd) (ee) 5% (ff) 245

253 246

254 (aa) (bb) (cc) 6 247

255 (dd) (ee) (ff) 248

256 (i) (ii) (iii) (iv) (v) 249

257 95% 250

258 (i)(ii) (iii) (iv) 251

259 252

260 (e) (i) (ii) 95% (aa) (bb) (cc) (dd) 253

261 (ee) (ff) 20% 254

262 255

263 (i) (ii) (a) (b) 256

264 20 257

265 20 (2)

266 4(e) (i) (ii) (i) (ii) (iii) 259

267 260

268 (a)(b) (c)37 (d)(e) (f) 261

269 (m) (a) (b)(c) 262

270 (i)(ii) (iii) 6 (1) 263

271 (2) 264

272 265

273 75% 90% Conyers Dill & Pearman, Cayman 266

274 XI ,000100, Apocalypse Investments LimitedApocalypse Investments Limited 1.00North 22 Nominees 100, , ,00010,000, ,999, ,000 North 22 Capital1,128,000Woodstock 225,000Winsley737,900North 22 Nominees303,000Falcolner 213,000UniversalWafer Limited,, Wafer Telecom (Singapore) Pte. Ltd 100,000 10,000, ,000500,000, ,500,000 27,777, ,500,000 (4) 267

275 (i) ,000277, (ii) (iii) 1, ,000 78,000, , ,733, ,000, ,0005,000,000150,044, ,143,600North 22 Nominees 47,601,600 Woodstock9,495,000Winsley16,584,600North 22 Capital 12,786, 600Falcolner8,988,600Universal23,444, ,500, ,200 2,000Winsley2,000North 22 Capital2,000 Falcolner2,000Universal2,200 48,460,000 35,413,28213,045,0001,718 5,000, ,000,000 2,782, ,268, ,732,

276 (1) 10210,200 2,000 Winsley2,000North 22 Capital2,000Falcolner2,000 Universal2,200 (2) (i) (ii) (a) (b) 7% 17,437, ,413,282 (c) ,045,000 (d) ,

277 (e) 4,188,100 3,400,0004,800,0004,660,0003,000, ,951,585 6,455,2889,113,3478,847,541 5,695,842 (3) (i) (ii) (4) 270

278 (i) (ii) 20% (a) (b) (c) (5) (i) (ii) 10% (a) (b) (c) (6) (4) (5) (i) (ii) 10% 271

279 (7) (8) (16) (1) ECNI9, ECNI ECNI 1 (2) 350,000 (3) 200,

280 (i)(ii) (iii) 10% 278,268,000 (1) 27,826,

281 26 274

282 (1) Beijing Wafer Technology Limited* Guangzhou Wafer Technology Limited* Wafer Telecom* Guangzhou Wafer Technology Limited* Guang Zhou Wafer Technology Limited* (2) NetTasking NetTasking NetTasking ,000 NetTaskingNetsourcing Netsourcing10% (3) North 22 NomineesWoodstockWinsleyNorth 22 CapitalFalcolnerUniversal 2,500,00019,500,000 # 2,500,

283 34,875,000 (4) (4) (3) 2,500,00019,500,000 # (5) North 22 CapitalWoodstockWinsleyNorth 22 NomineesFalcolner Universal (6) North 22 Nominees WoodstockWinsleyNorth 22 Capital FalcolnerUniversal ,777,800(3) 2,500,00019,500,000 # (7) NetTasking NetTasking(2) NetTasking200,000 (8) 400, ,

284 (9) Siu Yan Wo Wong Yun FaiChan Mei YingSpencerLock Wai Pang (10) (1)(1) (11) (12) 3,520,000 (13) (i) (ii) (14) Woodstock 277

285 (15) 1,500,000 1,500,000 (16) (17) (18) Woodstock Woodstock (19) 278

286 wafersystems.com.hk wafersystems.info wafersystems.biz wafersystems.com IP 2.0 OSS 279

287 (a) ,400,000 56,400, % 20.28% Woodstock Woodstock 280

288 (b) 10% Woodstock 56,400, % 56,400, % 48,460, % North 22 Nominees 36,900, % 36,900, % 1. Woodstock North 22 Nominees (i) (a) (b) 900,003 35,000 10% 281

289 (c) 5% 5,000,000 (d) (e) (a) (f) (a) (ii) 282

290 (i) (a) (b) (c) (ii) 1,320,000 (iii) (a)(b) (iv) (v) (vi) 120,

291 (vii) 7 7 (1) (2) (3) (4) 284

292 (5) (6) (7) 5 5% 285

293 (5) 16(i) (ii) (i) (ii) (iii) 286

294 (a) (b) 10% 10% (b) (a) 10% 10% 10% (c) 10% 30% 287

295 27,826,800 10% 1% (a) 0.1% (b) 5,000,

296 10 289

297 12 290

298 21 (a) (18)(21) 291

299 (b) (10)(11)(13) (c) (14) (d) (e) (f) (g) (17) 292

300 (6)(7) (i) 293

301 (ii) (a) 0.55 (b) 11,913,000 (7) (c) (i) (ii) 294

302 (d) 50 (e) (i) (ii) (i) 25% (ii) 6.25% (iii) ,913,

303 4.3% ,000, % 7 8C , % ,400, % ,000, % F , %

304 Pheasant Run Drive 750, % Danville, CA 94506, U.S , % 2A-2B 12A , % , % F , %

305 11. 75, % , % 88 22F , % 264 C , % , % , % , % 12 8A 298

306 18. 15, % 54E 19. 5, % 613C , % , % , % , % , %

307 25. 30, % , % , % , % , % , % , %

308 32. 5, % , % , % , % , % , % , % , %

309 40. 10, % , % , % , % , % , % , %

310 , % , % , % , % , % , % , % , % , %

311 56. 5, % , % , % , % , % , % , % ,913, % 304

312 Woodstock (i) (ii) Woodstock (i) (ii) (iii) Woodstock (iv) 305

313 , ,777, Conyers Dill & Pearman, Cayman 306

314 Conyers Dill & Pearman, Cayman 44A44B 4 Falcolner P.O. Box 957, Offshore 3,952,000 Incorporations Centre, Road Town, Tortola, BVI Falcolner 307

315 (1) (a) (b) (c) (d) (e) (2) Conyers Dill & Pearman, Cayman (a) (b) (3) (4) 308

316 (i) (ii) (iii) (iv) 127 (a) (b) (c) (d) (e) (f) (g) Conyers Dill & Pearman, Cayman (h) 309

317 (i) (j) (k) 310

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