2014 2 3 4-5 6-14 15-17 18-29 30-40 41-42 43 44 45 46 47-48 49 50-99 100 1
2014 Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 75 4 1-3 Royal Bank of Canada Trust Company (Cayman) Limited 4th Floor, Royal Bank House 24 Shedden Road, George Town Grand Cayman KY1-1110 Cayman Islands 183 17 1712-1716 77 9 www.milanstation.com.hk 1150 2
2014 (%) 1 21.7% 22.0% (%) 2 (8.7)% (5.4)% (%) 3 (16.5)% (10.0)% (%) 4 (19.8)% (11.8)% 5 4.4 4.6 6 2 2.0 (%) 7 7.7% 7.2% 8 101.6 88.7 1. 100% 2. 100% 3. 100% 4. 100% 5. 6. 7. 100% 8. 3
2014 452 16.7% (milanstation.net) 20.711.13.4% 1.8% 4
2014 8.2%70 0.8%82 122.0% 5
2014 2.3% 4730 16.0% 7.4%24 12.0% 26.2 1.1 3,5152.6% 6
2014 61611.8% 54 3,800 73.4% 11.4% 13.2% 2.0% 18.3% 26.9% 34.9% 28.5% 16.7%452 7 10,00130,000 30,00150,000 50,000 37.0% 5.7% 48.3% (milanstation.net) 20.7 33.8% 11.1 7
2014 19,457 8.2%7011.3% (milanstation.cc) 0.8%82 12 2.0% 8
2014 MS 9
2014 % % % 611.1 99.2 690.4 98.9 (11.5) 4.8 0.8 7.6 1.1 (36.8) 615.9 100.0 698.0 100.0 (11.8) 444.0 72.1 437.4 62.7 1.5 171.9 27.9 260.6 37.3 (34.1) 615.9 100.0 698.0 100.0 (11.8) 10,000 121.8 19.8 162.7 23.3 (25.1) 10,00130,000 128.8 20.9 158.1 22.7 (18.5) 30,00150,000 38.8 6.3 40.2 5.7 (3.5) 50,000 326.5 53.0 337.0 48.3 (3.1) 615.9 100.0 698.0 100.0 (11.8) 452.1 73.4 543.3 77.8 (16.8) 69.9 11.4 64.5 9.2 8.4 81.5 13.2 82.1 11.8 (0.8) (1) 12.4 2.0 8.1 1.2 53.1 615.9 100.0 698.0 100.0 (11.8) (1) 10
2014 482 11.46% 19.7 133.50 0.221.7% 18.3% 26.9% 34.9%19.2% 30.8% 32.8% 119149 101.688.7 0 90 25,055 77,934 91 180 31,062 38,216 1811 40,536 31,128 1 21,405 631 118,058 147,909 11
2014 0 45 36 225 46 90 78 254 911 947 860 1 18 2 1,079 1,341 50,000 50,000 0 90 12,331 40,795 91 180 16,715 16,419 1811 20,092 13,451 1 9,818 58,956 70,665 3.67.0 13221.5%138.4 19.8% 12
2014 57.20.6 9.3% 0.90.4 52.9 37.541%7.9 5.6 150173 24.526.8 76.5 59.753.3 267.681.358.2319.0 7.7% 4.4 2.07.2% 4.6 2.0 76.51.0 13
2014 (Beijing San Dong An Co. Ltd.) 2,780,000 1,344,000 655,000 689,000 689,000 1.24.6 14
2014 46 44 MS 4615 EDS Wellness Holdings Limited 45 20 (Lionrock Capital (Cayman) Limited)(Sow Asia Foundation) 15
2014 59 Genius World Investments Limited 36 40 6 16 44 Initial Fashion Company Limited 16
2014 45 JCL Merchandising Company 14 Body GloveBody Glove Mondi 44 MS 41 Marchiori 35 47 17
2014 14 A.2.1 A.2.1 A.2.1 10 18
2014 A.1.3 14 A.1.3 15/15 13/15 3/3 3/3 14/15 14/15 13/15 15/15 14/15 19
2014 1516 84 83(3) (i) (ii) 1/1 1/1 0/0 0/0 0/1 1/1 0/1 1/1 1/1 A.6.7 20
2014 A.6.5 21
2014 4/4 3/4 3/4 4/4 1/1 (1) (2) (3) 22
2014 B.1.5 1,000,000 3 1,000,0011,500,000 2 1,500,0012,000,000 1 8 4/4 1/1 3/4 4/4 4/4 23
2014 (a) (b) (c) (d) 5/6 6/6 5/6 24
2014 (a) (b) (c) 3.21 900,000 200,000 900,000 80,000 120,000 1,100,000 25
2014 (a) (b) (c) (d) (e) 4142 26
2014 (a) (b) (c) 27
2014 3.2915 (a) (b) (c) 28
2014 75 4 1-3 ms_ir@milanstation.net 29
2014 15 4399 18317 1712-1716 41.8 30
2014 148.0 113.5 41.7 71.8 24.7 47.1 8.9 38.2 12.0 12.0 5.5 6.5 2.9 3.6 3.5 0.1 17.0 17.0 2.9 14.1 6.6 7.5 7.2 0.3 MS 4.0 4.0 4.0 2.1 1.9 1.5 0.4 2.4 2.4 2.4 2.8 2.8 0.3 2.5 0.2 2.3 2.3 3.2 3.2 1.9 1.3 0.8 0.5 0.5 13.3 10.3 10.3 1.5 8.8 8.8 37.5 37.5 202.7 202.7 92.2 110.5 38.8 71.7 30.0 41.8 100 14 26 31
2014 27(b) 249,481,000 728,102,000478,621,00022 201,638 30% 5% 32
2014 84(1) 84(2) 1516 33
2014 28 34
2014 571 XV XV7 8 352 487,500,000 487,500,000 72.29% 487,500,000 8,740,000 8,740,000 1.30% 8,740,000 8,740,000 1.30% 200,000 200,000 0.03% 200,000 200,000 0.03% 3,900,000 3,900,000 0.58% 35
2014 2,000,000 2,000,000 6,740,000 6,740,000 2,000,000 2,000,000 6,740,000 6,740,000 2,000,000 (2,000,000) 400,000 (400,000) 1.384 0.616 1.384 0.616 1.384 1.384 200,000 200,000 1.384 200,000 200,000 1.384 6,800,000 13,480,000 (2,400,000) 17,880,000 3,900,000 3,900,000 0.616 3,700,000 (650,000) 3,050,000 11,485,000 11,485,000 1.384 0.616 10,500,000 28,865,000 (3,050,000) 36,315,000 1.40 0.61 36
2014 8,740,000 2,815 8,740,000 2,815 200,000 98 200,000 98 3,900,000 1,059 14,535,000 4,620 36,315,000 11,505 26 37
2014 336 487,500,000 72.29% 487,500,000 336 14A (a) (c) 10,026 10,000 (d) 158 108 (e) 2,743 3,211 (f) 246 599 (a) 83E F 7.08 38
2014 (b) (c) (d) (e) (f) 81F H B 81I 2.466B 50% 1 1 31 B 0.48 50% 1,000,000 1,000,000 14A (i) (ii) (iii) (iv) 39
2014 3000 740 14A.56 25% 14 1829 1829 40
2014 4399 41
2014 P03552 42
2014 5 615,863 698,007 (482,317) (544,730) 133,546 153,277 5 3,555 10,529 (132,379) (138,387) (57,175) (57,744) 6 (990) (1,343) 7 (53,443) (33,668) 10 (82) (4,296) (53,525) (37,964) 11 (52,918) (37,520) (607) (444) (53,525) (37,964) 13 (7.85) (5.56) 5099 43
2014 (53,525) (37,964) (2,346) 2,103 (55,871) (35,861) 11 (55,173) (35,528) (698) (333) (55,871) (35,861) 5099 44
2014 14 96,646 95,026 24 574 574 16 8,392 22,912 105,612 118,512 17 119,137 149,250 18 9,748 10,712 16 26,513 18,228 2,208 1,958 19 1,002 1,000 19 59,703 81,302 218,311 262,450 20 22,216 25,155 21 24,479 26,808 22 118 114 23 2,515 2,820 846 1,587 50,174 56,484 168,137 205,966 273,749 324,478 20 2,303 23 132 911 22 344 463 24 322 322 3,101 1,696 270,648 322,782 25 6,744 6,744 27(a) 260,825 312,261 267,569 319,005 3,079 3,777 270,648 322,782 5099 45
2014 a b c 26 6,744 173,102 10 (23,782) 1,729 1,583 5,413 189,734 354,533 3,760 358,293 1,992 1,992 111 2,103 (37,520) (37,520) (444) (37,964) 1,992 (37,520) (35,528) (333) (35,861) 350 350 (246) 246 6,744 173,102* 10* (23,782)* 1,729* 3,575* 5,167* 152,460* 319,005 3,777 322,782 (2,255) (2,255) (91) (2,346) (52,918) (52,918) (607) (53,525) (2,255) (52,918) (55,173) (698) (55,871) 3,737 3,737 3,737 (1,501) 1,501 6,744 173,102* 10* (23,782)* 1,729* 1,320* 7,403* 101,043* 267,569 3,079 270,648 * 260,825,000 312,261,000 (a) (b) (c) 10% 50% 50% 5099 46
2014 (53,443) (33,668) 5 (82) (699) 5 (52) (526) 7 1,636 1,476 7 1,345 (17,264) 7 8,220 10,786 7 1,155 1,790 7 2,119 3,737 (421) 6 990 1,343 (34,796) (36,762) 28,044 (16,600) 899 (2,398) 3,712 (9,437) (314) 6,413 (1,082) 2,638 (3,537) (56,146) (609) 6,353 (464) 224 (4,610) (49,569) 82 699 (12,605) (11,157) 52 1,484 (12,471) (8,974) 47
2014 27,000 (2,329) (36,935) (2) 20,597 (115) (191) 350 (973) (1,333) (17) (10) (3,436) 9,478 (20,517) (49,065) 81,302 128,384 (1,082) 1,983 59,703 81,302 59,703 80,302 1,000 19 59,703 81,302 (a) 605,000 (b) 68,000 309,000 5099 48
2014 14 85 125 15 85,000 144,000 85,085 144,125 16 249 359 15 188,547 181,255 19 649 742 189,445 182,356 15 9,304 4,364 20 1,598 3,211 10,902 7,575 178,543 174,781 263,628 318,906 25 6,744 6,744 27(b) 256,884 312,162 263,628 318,906 5099 49
2014 1. Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, the Cayman Islands 754 1-3 15 2.1 622 11 76 87 9 32 50
2014 2.1 (i)(ii) (iii)(i) (ii)(iii) 2.2 10 12 27 10 12 27 10 12 27 10 32 3232 51
2014 2.2 32 36 3636 13 39 3939 21 21 21 21 52
2014 2.3 9 1 14 2 15 3 11 5 1 5 16 5 38 16 5 41 19 4 27 5 10 5 28 6 4 5 10 5 12 28 1 2 3 4 5 6 6229358 9 53
2014 2.4 (a) (b) (c) 54
2014 2.4 (a) (i) (ii) (iii) 55
2014 2.4 (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) 2% 20% 20% 30% 56
2014 2.4 57
2014 2.4 (a) (b) 58
2014 2.4 59
2014 2.4 (i) (ii) 60
2014 2.4 61
2014 2.4 62
2014 2.4 (a) (b) (c) (d) 63
2014 2.4 26 64
2014 2.4 65
2014 3. (1)(2) (3) 90 10% 9010% 120 840 9,902,0009,902,000 66
2014 4. 452,134 81,437 69,871 12,421 615,863 86,357 27 11,629 98,013 2,199 1,454 9,020 12,673 543,249 82,074 64,548 8,136 698,007 93,265 113 7,219 100,597 9,603 25 2,443 12,071 10% 611,051 690,408 4,812 7,599 615,863 698,007 67
2014 5. 615,863 698,007 82 699 82 699 52 526 2,901 8,400 520 904 3,555 10,529 6. 136 112 837 1,221 17 10 990 1,343 68
2014 7. 482,317 544,730 1,345 (17,264) 8,192 10,691 28 95 14 8,220 10,786 455 2,872 14 1,155 1,790 2,119 72,121 79,053 900 1,460 1,636 1,476 23 1,590 3,956 8 39,142 33,988 1,084 1,054 1,991 42,217 35,042 69
2014 8. 62211 7832161 ^ 4,372 17 873 5,262 885 17 873 1,775 134 2 136 122 3 125 5,513 39 1,746 7,298 300 300 200 200 500 500 200 200 200 200 200 200 600 600 1,100 5,513 39 1,746 8,398 ^ 1,863 9 505 2,377 1,100 7,376 48 2,251 10,775 70
2014 8. ^ 5,046 15 5,061 852 15 867 1,073 15 1,088 852 15 867 7,823 60 7,883 300 300 200 200 500 500 200 200 154 154 117 117 41 41 84 84 596-596 1,096 7,823 60 8,979 ^ 26 71
2014 8. 9. 8 1,760 840 32 11 957 2,749 851 1,000,000 1 1,000,0011,500,000 1 1,500,0012,000,000 1 26 72
2014 10. 16.5%16.5% 25%25%12% 12%17%17% 27 2,038 (191) 44 462 11 373 24 1,614 82 4,296 73
2014 10. (53,443) (33,668) (10,572) (7,737) 11 182 (99) (668) 1,323 2,399 10,139 11,945 (547) (95) (173) (1,730) 82 4,296 11. 13,308,000 11,564,000 27(b) 12. 13. 52,918,000 37,520,000 674,374,000674,374,000 74
2014 14. 80,417 31,719 12,023 972 125,131 11,108 665 900 12,673 (215) (215) (11,891) (327) (12,218) (183) (9) (192) 80,417 30,753 12,352 1,657 125,179 1,575 23,135 5,085 310 30,105 796 5,270 1,991 163 8,220 1,155 1,155 (215) (215) (10,405) (177) (10,582) (144) (6) (150) 2,371 19,011 6,893 258 28,533 78,046 11,742 5,459 1,399 96,646 78,879 28,628 9,988 1,333 118,828 1,538 6,598 2,148 1,787 12,071 (3,696) (126) (2,148) (5,970) 189 13 202 80,417 31,719 12,023 972 125,131 783 15,684 3,286 1,230 20,983 792 7,822 1,897 275 10,786 1,785 5 1,790 (2,234) (107) (1,195) (3,536) 78 4 82 1,575 23,135 5,085 310 30,105 78,842 8,584 6,938 662 95,026 1,155,000 1,212,000 578,000 75
2014 14. 203 78 40 118 85 203 37 41 78 125 76
2014 14. 78,046,000 78,842,000 76,530,000 77,313,000 21 634,000 662,000 15. 555,000 555,000 # (470,000) (411,000) 85,000 144,000 # 411,000,000 59,000,000 555,000,000470,000,000 77
2014 15. Milan Station (BVI) Limited (BVI) 4 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 78
2014 15. 2 100 Trilink Global Limited 1 100 10,000 100 10,000 100 30,000 100 10,000 100 Milan Station (PRC) Limited 2 100 Milan Station (E-Business) Limited 10,000 100 10,000 100 10,000 100 10,000 100 79
2014 15. * 32,000,000 100 * 34,000,000 100 *i 10,134,312 70 Milan Station Luxury Pte. Limited 10 100 Standpoint Global Limited Standpoint Global 1 100 * ii 7,000,000 90 * 80
2014 15. (i) 14,286 170%30% 30,000,000 15,000,000 10,500,00013,125,000 4,500,0005,625,000 8,792,0003,768,000 (ii) Standpoint Global J&C (Asia) LimitedJ&C J&C J&C J&CJ&CStandpoint Global90% J&C10%J&C Standpoint Global J&CJ&C 10,000,0007,000,000 Standpoint Global J&CJ&C 6,300,000 8,077,000700,000897,000 7,000,000 16. 13,933 6,346 249 291 19,943 29,461 1,029 5,333 68 34,905 41,140 249 359 (8,392) (22,912) 26,513 18,228 249 359 81
2014 17. 119,137 149,250 18. 1 8,182 10,337 1 2 498 375 2 3 464 3 604 9,748 10,712 8,237 10,429 1 2 907 283 3 604 9,748 10,712 82
2014 19. 59,703 80,302 649 742 1,002 1,000 1,000 60,705 82,302 649 742 21 (1,002) (1,000) 59,703 81,302 649 742 18,694,000 9,167,000 20. 5,939 7,675 1,000 1,506 7,673 7,447 598 1,705 10,907 10,033 24,519 25,155 1,598 3,211 (2,303) 22,216 25,155 1,598 3,211 83
2014 21. 3.25% 3.25% 24,479 26,808 2,406 2,329 2,483 2,406 7,959 7,703 11,631 14,370 22,073 24,479 24,479 26,808 (i) 76,530,000 77,313,000 (ii) 67,000,000 67,000,000 (iii) 1,002,000 1,000,000 84
2014 22. 131 131 118 114 131 131 121 118 229 360 223 345 491 622 462 577 (29) (45) 462 577 (118) (114) 344 463 23. 2,409 1,322 3,731 1,590 68 1,658 (2,349) (100) (2,449) (223) (223) (60) (10) (70) 1,590 1,057 2,647 (132) (132) 1,590 925 2,515 A A A A A 1,590,000 1,590,000 85
2014 23. B B B B B3,956,000 1,547,000 24. a) i) (62) 523 1,405 1,866 10 (260) 51 (1,405) (1,614) (322) 574 252 ii) 574 574 (322) (322) 252 252 b) 94,011,000 67,557,000 86
2014 24. b) 65,758,000 44,851,000 c) 25. 2,000,000,0000.01 20,000 20,000 674,374,000674,374,000 0.01 6,744 6,744 26. 10 10% 1% 87
2014 26. 0.1%5,000,000 1 (i)(ii) (iii) 1.384 10,500 1.384 11,000 0.616 28,865 1.384 (3,050) 1.384 (500) 0.774 36,315 1.384 10,500 1.384 7,450 1.384 10,500 1.3480.616 1.384 4.002.95 88
2014 26. 28,865 0.616 7,450 1.384 36,315 10,500 1.384 7,839,0000.27 3,737,000 (%) 0 (%) 59.18 (%) 1.383 5 0.61 89
2014 26. 36,315,000 10,500,000 35,790,000 5.31% 27. (a) (b) 26 173,102 555,000 5,413 (420,717) 312,798 (636) (636) (246) 246 173,102 555,000 5,167 (421,107) 312,162 (59,015) (59,015) 3,737 3,737 (1,501) 1,501 173,102 555,000 7,403 (478,621) 256,884 90
2014 27. (b) 59,015,000 636,000 59,000,00013,293,000 10,928,000 28. (a) (i) 10,026 10,000 (ii) 156 (iii) 158 108 (iv) 152 3,211 (v) 246 599 (i) (ii) (iii) (iv) (v) 91
2014 28. (b) 11,394 7,480 30 (c) 11,284 12,022 2,502 100 116 13,886 12,138 8 29. 67,000 67,000 24,479,000 26,808,000 92
2014 30. (a) 1,219 4,574 (b) 47,127 67,785 528 80 65,917 104,798 9,542 113,044 182,125 528 80 93
2014 31. 9,748 10,712 19,605 28,965 68 188,547 181,255 1,002 1,000 59,703 81,302 649 742 90,058 121,979 189,196 182,065 9,304 4,364 19,528 18,942 598 1,705 24,479 26,808 462 577 44,469 46,327 9,902 6,069 94
2014 32. 21 100 245 100 268 95
2014 32. % 5 (935) (5) 935 5 (458) (5) 458 96
2014 32. 29 29 18 19 15 19 1 1 17,225 2,303 19,528 * 24,479 24,479 131 360 491 41,835 2,663 44,498 97
2014 32. 1 1 18,942 18,942 * 26,808 26,808 131 491 622 45,881 491 46,372 * 24,479,000 26,808,000 12 3,166,000 3,166,000 3,166,000 3,166,000 9,498,000 9,498,000 12,403,000 15,590,000 1 1 9,304 9,304 598 598 9,902 9,902 29 24,479 24,479 98
2014 32. 1 1 4,364 4,364 1,705 1,705 6,069 6,069 29 26,808 26,808 1 33. 90% 61.1% 13,750,000 3,000,000 34. 99
2014 615,863 698,007 676,444 879,802 730,259 (482,317) (544,730) (532,461) (666,464) (555,599) 133,546 153,277 143,983 213,338 174,660 3,555 10,529 9,825 8,770 935 (132,379) (138,387) (109,442) (104,151) (84,091) (57,175) (57,744) (52,286) (53,654) (24,681) (990) (1,343) (1,380) (220) (187) (53,443) (33,668) (9,300) 64,083 66,636 (82) (4,296) (4,630) (16,119) (12,326) (53,525) (37,964) (13,930) 47,964 54,310 (52,918) (37,520) (13,918) 47,964 54,310 (607) (444) (12) (53,525) (37,964) (13,930) 47,964 54,310 323,923 380,962 415,417 399,970 165,894 (53,275) (58,180) (57,124) (28,344) (32,299) (3,079) (3,777) (3,760) 267,569 319,005 354,533 371,626 133,595 (i) (ii) 4345 100