HUAXI HOLDINGS COMPANY LIMITED : 75,000,000 60,000,000 15,000,000 : 67,500,000 : 7,500,000 : %0.003% 0.005% : 0.01 : C

HUAXI HOLDINGS COMPANY LIMITED 華禧控股有限公司 HUAXI HOLDINGS COMPANY LIMITED 華禧控股有限公司於開曼群島註冊成立的有限公司股份代號 1689 股份發售 HUAXI HOLDINGS COMPANY LIMITED 華禧控股有限公司保薦人獨家賬簿管理人及獨家牽頭經辦人海通國際資本有限公司海通國際證券有限公司

HUAXI HOLDINGS COMPANY LIMITED : 75,000,000 60,000,000 15,000,000 : 67,500,000 : 7,500,000 : 1.48 1.18 1%0.003% 0.005% : 0.01 : 1689 32 342C 1.481.18 1.481%0.003% 0.005% 1.48 1.18 1.48 (www.hkexnews.hk) (www.huaxihds.com.hk)

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1,000,000 iii

............................................................... 1............................................................... 11.......................................................... 20........................................................ 21.......................................................... 22............................................. 41................................... 42......................................... 45.......................................................... 48.......................................................... 50.............................................. 73............................................................... 80.................................................. 151.......................................................... 157.................................................. 158.......................................................... 165............................................................... 166.......................................................... 168........................................... 238........................................................ 240............................................................... 242 iv

.................................................... 250............................................. 257............................................ I-1..................................................................................... II-1 III-1 IV-1........................................ V-1......................... VI-1 v

20+10 7.4% 5.3% 76.1% 85.3% 91.8% 92.4% 212,100,000 265,800,000 279,000,000 51,100,000 14.7% 9,600,000 29,700,000 44,700,000 8,200,000 115.6% 0.6% 7.4% 2.3% (i)100,400,000 151,000,000 159,100,000 30,600,000 1

47.3% 56.8% 57.0% 59.8% (ii) 48,300,000 52,300,000 59,400,000 8,500,000 22.8% 19.7% 21.3% 16.5% 16 80% 20% 30% 25 25 2

4 17,667 43.9% 38.5% 33.7% 37.9% 31.5% 32.4% 27.0% 24.9% 13.2% 16.1% 12.5% 11.8%50.5% 57.2% 50.2% 46.4% 3

212,143 265,821 278,983 70,709 51,121 27,706 50,420 78,544 15,575 15,717 9,624 29,688 44,738 11,031 8,151 49,530 49,543 53,120 57,034 159,499 166,249 210,063 177,642 137,497 111,191 111,031 100,564 22,002 55,058 99,032 77,078 2,328 1,341 71,532 104,601 149,824 132,771 4

(7,523) 59,315 38,587 8,154 5,280 (22,735) (7,442) (10,011) (9,422) 9,252 30,684 (38,266) (9,252) (5,537) (30,249) 22,400,000 30,700,000 5,900,000 36,600,000 7,600,000 27,700,000 % % % % % 142,339 67.1% 174,432 65.6% 162,476 58.2% 47,931 67.8% 27,587 54.0% 41,975 19.8% 35,748 13.4% 26,256 9.4% 6,282 8.9% 7,320 14.3% 26,994 10.2% 69,044 24.7% 9,946 14.1% 11,952 23.4% 12,099 4.6% 17,244 6.2% 4,361 6.2% 3,688 7.2% 26,627 12.6% 15,285 5.8% 3,457 1.3% 2,189 3.0% 574 1.1% 210,941 99.5% 264,558 99.6% 278,477 99.8% 70,709 100.0% 51,121 100.0% 639 0.3% 651 0.2% 255 0.1% 563 0.2% 612 0.2% 251 0.1% 212,143 100.0% 265,821 100.0% 278,983 100.0% 70,709 100.0% 51,121 100.0% 5

(i) (ii) (iii) (i) (ii) 52.3 % % % % % % 24,288 17.1% 67.1% 25,557 14.7% 65.6% 33,309 20.5% 58.2% 8,648 18.0% 67.8% 6,394 23.2% 54.0% 7,398 17.6% 19.8% 7,800 21.8% 13.4% 6,150 23.4% 9.4% 1,327 21.1% 8.9% 1,984 27.1% 14.3% 12,145 45.0% 10.2% 32,283 46.8% 24.7% 3,825 38.5% 14.1% 6,116 51.2% 23.4% 6,643 54.9% 4.6% 7,143 41.4% 6.2% 1,780 40.8% 6.2% 1,243 33.7% 7.2% (4,233) -15.9% 12.6% (1,399) -9.2% 5.8% 318 9.2% 1.3% (5) -0.2% 3.0% (20) -3.5% 1.1% 13.1% 19.0% 28.2% 22.0% 30.7% (i) (ii) 28.2% 30.7%3,100,000 16.0% 15.9% 6

(i) (ii) (iii) (iv) 25.3% 5.0% (27.7%) 208.5% 50.7% (26.1%) 13.1% 19.0% 28.2% 22.0% 30.7% 4.5% 11.2% 16.0% 15.6% 15.9% 104 78 79 106 74 153 137 159 219 155 40 46 52 88 58 1.2 1.5 1.9 1.8 0.1 88 58 7

SXD Limited 225,000,000 75%SXD Limited (i) (ii) (iii) (iv) (v)(vi) 78,000,00014.8% 52.3% (i) (ii) (iii) 129,000,000 6.9%(iv) 2.2% 26,400,000 4,700,000 8

5,800,000 3,100,000 2,700,000 5,800,000 10,100,000 35% 23,000,000 29,100,000 1,100,000 1,400,000 21,900,000 27,700,000(i) 19,000,000 24,000,000 (ii) 9,500,000 12,000,000SXD Limited 354,000,000 444,000,000 25% 3.6% 1.18 1.48 2,000 90%52,500,000 15,000,000 10% 300,000,000 9

1.331.48 1.18 53,400,000 20,600,000 (38.5%) 20,600,000 (38.5%) 5,600,000 (10.6%) 2,000,000 (3.7%) 2,000,000 (3.7%) 2,600,000 (5.0%) 1.18............................. 0.62 1.48............................. 0.68 1. 2. 300,000,000 10

20+10 20 10 239,999,999 11

32 SXD Limited 12

eipo Ipsos Hong Kong Limited 13

1% 0.003% 0.005% 1.48 1.18 30 11,250,000 15% 14

67,500,000 52,500,000 15,000,000 15

7,500,000 15,000,000 SXD Limited 16

571 90% 10% 0.01 13 4 6 17

SXD Limited eipo www.eipo.com.hk eipo 18

% 1.00 7.80 1.00 0.81 (i)(ii) (iii) (iv) 19

ph VOC 20

47.3% 56.8% 57.0% 59.8% 92.1% 91.9% 92.7% 93.6% 22

15% 15% 25% 13.1% 19.0% 28.2% 30.7% 4.5% 11.2% 16.0% 15.9% 25

99.5% 99.6% 99.8% 100.0% 13.1% 19.0% 28.2% 30.7% 26

97,600,000 110,500,000 97,800,000 14,600,000 50.5% 57.2% 50.2% 46.4% 166,600,000 191,600,000 178,300,000 31,100,000 90.4% 89.0% 89.0% 87.9% (i) 2.5% (ii) 2.0%(iii) 2.1% 27

(i) 12.3% (ii) 7.5%(iii) 7.7% 7,500,000 22,400,000 28

90 29

20,600,000 38.5%1.33 11,300,000 21.2%1.33 30

100,000 33

(i) (ii) 34

11 11 20017 35

20025 1,181 98 36

10% 10% 37

Ipsos Hong Kong Limited 21,900,000 27,700,000 (i) 19,000,000 24,000,000 (ii)9,500,000 12,000,000 SXD Limited 39

8.12 8.12 8.12 (a) 3.05 (b) (c) (d) (e) 3A.19 13.46 41

571V 42

2,000 (i)(ii) (iii) (iv) 44

38 3 28 B 4 1-2202 1 1 39 H 25 4 A 45

189 22 189 22 189 22 189 22 Pang & Co 3 21 7 A 40 1 2206-19 46

15 10 1002-1003 12 6 100022 22 1 16 388 15 47

Clifton House P. O. Box 1350 75 Fort Street Grand Cayman KY1-1108 Cayman Islands 4 183 33 19 6-7 CPA 189 22 38 3 28 B 218-220 16 C 48

Appleby Trust (Cayman) Ltd. Clifton House P. O. Box 1350 75 Fort Street Grand Cayman KY1-1108 Cayman Islands 183 17 1712-1716 122 101 201 301 401 2 3 4 7 8 9 17 1 3 1 1 83 www.huaxihds.com.hk 49

Ipsos Hong Kong Limited Ipsos Hong Kong Limited Ipsos Hong Kong Limited Ipsos Hong Kong Limited Ipsos Hong Kong Limited Ipsos Hong Kong Limited Ipsos Hong Kong Limited 300,000 Ipsos SASynovate Ltd. 8516,000 50

8% 87% 50% 7.5% 7% 52

95,000 85,000 75,000 65,000 55,000 45,000 35,000 25,000 15,000 5,000 9.0% 8.7% 10.3% 31,405 34,090 40,151 9.2% 47,288 7.8% 7.5% 51,932 57,125 62,838 69,122 75,688 83,257 7.5% 7.2% 7.2%7.0% 10% 8% 6% 4% 2% 0% 11.0% 24,5657,917 9.0% 7.0% 53

37,000 34,454 32,200 32,000 30,093 28,124 26,285 27,000 24,565 23,741 21,810 22,031 19,109 18,972 20,444 22,000 15,781 17,175 17,606 16,338 15,161 17,000 13,471 12,265 11,243 11,313 7,917 8,503 9,132 9,808 10,534 12,000 6,977 5,919 4,761 5,153 7,000 8,892 3,661 3,993 4,382 5,221 5,705 6,235 6,813 7,446 8,137 2,000 3 52.9% 3% 8.0% 1.3% 2.7% 54

270 277 285 292 300 304 308 312 316 320 3,564 2051% 60% 55

56 2,712 2,977 3,236 3,564 3,891 4,320 4,809 5,369 6,016 6,766 2,000 3,000 4,000 5,000 6,000 7,000 2.9% 28,640 (i) (ii) 6%(iii)

3,500 3,000 2,500 2,000 2,220 2,290 2,375 2,447 2,516 2,585 2,655 2,724 2,794 2,864 1,500 1,000 500 0 29,460 21,650 57

3,500 3,000 2,500 2,000 1,500 1,000 500 0 2,143 2,229 2,317 2,406 2,497 2,588 2,679 2,770 2,860 2,946 732 825 922 1,041 1,167 1,313 1,481 1,675 1,901 2,165 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2598 1,181 98 58

180 160 140 120 100 80 60 40 20 0 155 138 133 117 25 25 25 25 25 98 20+1020 10 20+10 200 100 70 100 307016.5 30 16.5 59

20+10 20 Chunghwa Shanghai Tobacco Group Co., Ltd Double Happiness Shanghai Tobacco Group Co., Ltd Su Yan China Tobacco Jiangsu Industrial Co., Ltd Nanjing China Tobacco Jiangsu Industrial Co., Ltd Liqun China Tobacco Zhejiang Industrial Co., Ltd Huangshan China Tobacco Anhui Industrial Co., Ltd Septwolves China Tobacco Fujian Industrial Co., Ltd Dihao China Tobacco Henan Industrial Co., Ltd Huanghelou China Tobacco Hubei Industrial Co., Ltd Shuangxi China Tobacco Guangdong Industrial Co., Ltd Zhenlong China Tobacco Guangxi Industrial Co., Ltd Pride China Tobacco Chuanyu Industrial Co., Ltd Huangguoshu China Tobacco Guizhou Industrial Co., Ltd Furongwang China Tobacco Hunan Industrial Co., Ltd Baisha China Tobacco Hunan Industrial Co., Ltd Yuxi China Tobacco Yunnan Industrial Co., Ltd Hongtashan China Tobacco Yunnan Industrial Co., Ltd Hongmei China Tobacco Yunnan Industrial Co., Ltd Yunyan China Tobacco Yunnan Industrial Co., Ltd Honghe China Tobacco Yunnan Industrial Co., Ltd 10 Changbaishan Jinlin Tobacco Industry Co., Ltd Lanzhou Gansu Tobacco Industry Co., Ltd Golden Bridge China Tobacco Fujian Industrial Co., Ltd Jinshen China Tobacco Jiangxi Industrial Co., Ltd Taishan China Tobacco Shandong Industrial Co., Ltd Zhongnanhai Shanghai Tobacco Group Co., Ltd Diamond China Tobacco Hebei Industrial Co., Ltd Derby China Tobacco Anhui Industrial Co., Ltd Guiyan China Tobacco Guizhou Industrial Co., Ltd Haomao China Tobacco Shanxi Industrial Co., Ltd 60

532 461 532 5,000,0003,000,000 5,000,0002,000,000 3,000,000 50,000461 1,000 600 1,000 12 400 600 532 461 (i) (ii) (iii) 10 4 4,000 61

20025 25 168 11 Shanghai Tobacco Group Co., Ltd 5.4% China Tobacco Hebei Industrial Co., Ltd 85.8% China Tobacco Jiangsu Industrial Co., Ltd China Tobacco Zhejiang Industrial Co., Ltd China Tobacco Anhui Industrial Co., Ltd China Tobacco Fujian Industrial Co., Ltd China Tobacco Jiangxi Industrial Co., Ltd China Tobacco Shandong Industrial Co., Ltd China Tobacco Henan Industrial Co., Ltd China Tobacco Hubei Industrial Co., Ltd China Tobacco Guangdong Industrial Co., Ltd China Tobacco Guangxi Industrial Co., Ltd China Tobacco Chuanyu Industrial Co., Ltd China Tobacco Guizhou Industrial Co., Ltd China Tobacco Shaanxi Industrial Co., Ltd China Tobacco Hunan Industrial Co., Ltd China Tobacco Yunnan Industrial Co., Ltd Heilongjiang Tobacco Industry Co., Ltd 8.8% Hongta Liaoning Tobacco Co., Ltd Jinlin Tobacco Industry Co., Ltd Gansu Tobacco Industry Co., Ltd Inner Mongolia Kunming Cigarette Co., Ltd Hainan Hongta Cigarette Co., Ltd Shenzhen Tobacco Industry Co., Ltd Shanxi Kunming Tobacco Co., Ltd 62

19% 51% 24,970 9% 7% 7% 7% 20+10 63

7.6% 2.0% 8.4% 1.2% 64.1% 16.8% 2.9% 2.7% 2.3% 64

200 24.5% 60.1% 87.6% 1 A 7.9% 25.9% 0.6% 2 B 5.4% 4.8% 1.7% 3 C 4.3% 9.9% 0.0% 4 D 3.7% 2.6% 1.8% 5 E 3.2% 3.9% 2.3% (1)(2)(3)(4) (5) 65

1 A 25.9% 2 F 10.9% 3 C 9.9% 4 7.4% 5 G 6.0% (1)(2)(3)(4) (5) 1 H 46.5% 2 I 16.9% 3 J 11.1% 4 K 6.8% 5 L 6.3% (1)(2)(3)(4) (5) 66

12 20 2 4 5 8 25 86.8% ISO9001 67

344 366 366 409 1.9% 22,200 25,160 28,640 2.9% -0.94% 10.0% 15.0% 68

50,000 40,000 34,432 35,040 35,311 36,080 36,645 37,542 38,437 39,274 40,106 40,932 30,000 20,000 10,000 0 1,060 1,1801,350 2.7% 18.08 19.39 21.87 2.1% 69

2,500 2,000 1,808 1,832 1,853 1,902 1,939 1,989 2,040 2,089 2,137 2,187 1,500 1,000 500 0 1,230 1,3501,520 2.3% 21.54 22.74 25.19 1.8% 3,000 2,500 2,000 2,154 2,197 2,221 2,255 2,274 2,323 2,374 2,422 2,470 2,519 1,500 1,000 500 0 70

0.6% 7.4% 2.3% 15,357.8 (20.5%) 14,609.0 (4.9%) 15,775.8 8.0% 16,574.3 5.1% 15,506.5 (6.4%) 24,813.4 (10.8%) 24,290.6 (2.1%) 26,327.5 8.4% 27,799.5 5.6% 27,006.5 (2.9%) 4,400.5 (1.7%) 4,040.6 (8.2%) 5,521.7 36.7% 5,158.5 (6.6%) 4,551.2 (11.8%) China Paper Newsletter 71

12.3% 7.5% 2.5% 2.0% 2.1% 72

SXD LimitedXinda Capital Limited (a) (b) 73

ISO9001:2008 15% 279,000,000 74

Xinda Capital Limited Xinda Capital Limited 150,000 Xinda Capital Limited 1 100,000 10,000,000 0.01 75

5,000,000 30 35,000,000 35,000,000 SXD Limited Xinda Capital Limited Xinda Capital Limited Xinda Capital Limited 50,000 100 Xinda Capital Limited 35,000,000 76

1 100% 77

100% SXD Limited 100% 100% Xinda Capital Limited 100% 100% 78

100% SXD Limited 75% 25% 100% Xinda Capital Limited 100% 100% 79

20+10 7.4% 5.3% 76.1% 85.3% 91.8% 92.4% 212,100,000 265,800,000 279,000,000 51,100,000 14.7% 9,600,000 29,700,000 44,700,000 8,200,000 115.6% 100,400,000 151,000,000 159,100,000 30,600,000 47.3% 56.8% 57.0% 59.8% 48,300,000 52,300,000 59,400,000 8,500,000 22.8% 19.7% 21.3% 16.5% 80% 80

20 (i) 20+10 20+10(ii) (iii) 20025 15598 25 81

4 17,667 2 7 1 1 2 2 82

200 25 16 20 20 18 83

148,600,000 203,200,000 218,500,000 39,000,00070.1% 76.5% 78.3% 76.3% (i) (ii) (iii) 84

(i) (ii) (iii) 85

(i) (ii)(iii) (iv)(v) (vi) 86

(a) (b) (a) 11.3 (b) 9.3-15.9% -9.2% 9.2% -0.3% (i)20+10 20+10(ii) (iii) 87

64.1% 20% 30% 927 88

2,300,000 500,000 500,000 800,000 1,500,000 90

20 I. II. III. IV. 91

V. 20 10 142,339 67.1% 174,432 65.6% 162,476 58.2% 47,931 67.8% 27,587 54.0% 41,975 19.8% 35,748 13.4% 26,256 9.4% 6,282 8.9% 7,320 14.3% 26,994 10.2% 69,044 24.7% 9,946 14.1% 11,952 23.4% 12,099 4.6% 17,244 6.2% 4,361 6.2% 3,688 7.2% 26,627 12.6% 15,285 5.8% 3,457 1.3% 2,189 3.0% 574 1.1% 210,941 99.5% 264,558 99.6% 278,477 99.8% 70,709 100.0% 51,121 100.0% 639 0.3% 651 0.2% 255 0.1% 563 0.2% 612 0.2% 251 0.1% 212,143 100.0% 265,821 100.0% 278,983 100.0% 70,709 100.0% 51,121 100.0% 92

(a) 99.5% 99.6% 99.8% 100.0% (b) (c) 0.5% 0.4% 0.2% 90% 93

102,277 48.2% 156,104 58.7% 169,786 60.9% 40,719 57.6% 32,370 63.3% 49,452 23.3% 52,252 19.7% 59,437 21.3% 15,003 21.2% 8,453 16.5% 22,608 10.7% 12,161 4.6% 10,840 5.1% 12,412 4.7% 12,097 4.3% 2,909 4.1% 2,072 4.1% 8,823 4.2% 17,100 6.4% 21,705 7.8% 5,238 7.4% 3,911 7.7% 13,236 6.2% 9,492 3.6% 3,168 1.2% 9,138 3.3% 4,651 6.6% 4,907 2.3% 3,132 1.1% 6,820 2.4% 2,189 3.1% 4,315 8.4% 212,143 100.0% 265,821 100.0% 278,983 100.0% 70,709 100.0% 51,121 100.0% 71.5% 78.4% 82.2% 79.8% 417,667 7,900,000 5,900,000 2,000,000 94

2 7 1 1 2 2 1. 9 2. 7 3. 9 4. 6 5. 1 6. 11 95

7. 2 8. 1 9. 2 10. 2 11. 1 96

890 362 1,112 1,077 214 190 (40.7%) (96.9%) (88.8%) 6,180 3,950 6,180 5,383 7,057 5,385 1,358 926 (63.9%) (87.1%) (76.3%) (68.2%) 3,434 2,242 3,434 1,767 3,434 1,289 661 410 (65.3%) (51.5%) (37.5%) (62.0%) 453 267 906 391 174 68 (58.9%) (43.2%) (39.1%) 186 141 186 34 186 46 36 9 (75.8%) (18.3%) (24.7%) (25.0%) 1. 2. (i) 12 6 153 (ii) 2010 142 3. 4. 5. 97

(a) 4.9 (b) 5.4 (c) 3.5 (d) 14.2 (e) 2.0 99

(a) 5.8 (b) 3.5 (c) 2.8 100

101

(a) (b) (c) (d) 4.6 4.6 4.2 4.0 102

(a) 3.6 (b) 3.1 (c) 2.8 (d) 3.8 (e) 3.5 (f) 4.4 (g) 4.4 103

(a) 1.0 (b) 8.2 (c) 2.0 104

100,000 (a) 6 (b) 30 (c) 30 105

106

10,000 (a) 2.4 (b) 2.4 (c) 2.4 (d) 2.9 3.6 (i) (ii) (iii) 38 107

108

VOC ISO9001:2008 43.9% 38.5% 33.7% 37.9% 31.5% 32.4% 27.0% 24.9% 109

90 (i) (ii) (iii) 110

24 111

90 27,280 32.2 41,981 56.4 49,578 75.4 6,863 57.4 21,040 34.6 15,092 24.1 8,022 15.3 3 0.04 1 2 1. (i) (ii) 112

2. (i) (ii) (iii) 193,200,000 193,400,000 194,700,000 31,500,000 25,400,000 31,200,000 24,400,000 3,700,000 13.2% 16.1% 12.5% 11.8% 97,600,000 110,500,000 97,800,000 14,600,000 50.5% 57.2% 50.2% 46.4% 2.5% 12.3% 113

114 A 60-90 B 60 C 90 D 180 E 90 F 30

G 90 H I 180 5% ISO9001 115

(i)(ii) (iii)(iv) (i) (ii) (iii)(iv) (v) (i) (ii)(iii) (iv) (i) (ii) (iii) (iv) 10% 300,000 116

(i)3(ii) (iii) (iv) 17 100% (i) (ii) 212,100,000 265,800,000 279,000,000 51,100,000 100,400,000 151,000,000 159,100,000 30,600,000 47.3% 56.8% 57.0% 59.8% 48,300,000 52,300,000 59,400,000 8,500,00022.8% 19.7% 21.3% 16.5% 195,300,000 244,200,000 258,700,000 47,900,00092.1% 91.9% 92.7% 93.6% 117

20+10 80% 95.12% 100% 16 90 13 90 A 16 60 B 15 118

C 90 D 16 180 E 16 40 F 16 180 5% 13,200,000 9,500,000 6.2% 3.6% 119

16 47.3% 56.8% 57.0% 59.8% (a) (b) 120

(f) 47.3% 56% 60% (g) (a) (b) (c) 122

(i)(ii) (iii) (iv) 123

90 A 124

3,813,264 99,000,000 122,000,000 60,400,000 74,500,000 90 1%10% B 125

1,520,000 20,000,000 25,000,000 14,800,000 18,200,000 90 1%10% 126

62,375 62,299 63,981 1 25,983 25,881 25,971 25,016 16,352 16,648 16,408 15,849 38,120 38,120 38,120 1 119,293 115,792 47,212 2 49,728 2 1. 2. 127

1 +0.1% +2.7% -0.4% +0.4% -3.7% +1.8% -1.4% -3.4% 1 0.0% 0.0% -2.9% -2.3% 2 +5.3% 1. 2. 60 90 128

10478 79106 (i) (ii)(iii) (i) (ii) (iii) 129

(i) (ii) (iii) (iv) 130

33,500,000 34,700,000 25,300,000 4046528858 300,000 1,000,000 800,000 900,000 24,559 20,374 14,608 13,305 7,052 3,627 19,614 22,244 131

AA A AA 132

A 15% 133

11,000 6,000 9,000 10,000 134

69 ph VOC 6,800,000 6,700,000 8,700,000 700,000 135

226 7 25 135 38 3 18 136

(i) (ii) 1% 5% (i) (ii) (iii) 137

0.6% 7.4% 2.3% 37,000,000 (i)(ii) (iii) 4 17,667 6,242.12 138

5.01 15% 32L 6(2) 26,666.67 4 17,667.24 6,242.12 90,120 183 33 1,428 19 6-7 139

1 77 78 550 10 B (a) A B Xinda Capital Limited 16 302663569 16 140

(b) ZL201010597104.7 141

(i) (ii) (iii) 142

(a) (b) (i) (ii) (i) 10,000 50,000 (ii) 143

(i) (ii) 2,300,000 2,700,000 3,100,000 (i) (ii) (iii) 2,300,000 2,700,000 3,100,000 25% 90 144

90 2,197,757.94 90 100,000 145

(i) (ii) (iii) 2,197,757.94 1,360,293 655,820 2,000,000 146

(i) (ii) (iii) 3A.15(5) 147

166 148

(i) (ii) (iii) (iv) (v) 3.08 3.09 149

3.083.09 150

SXD Limited 30% SXD Limited (a) (b) SXD Limited SXD Limited SXD Limited ) 151

(ii) 5% (a) (b) 30% (c) (a) (i) (ii) (b) (i) (ii) (a) (b) 153

(a) (b) (c) (d) (a) (b) 154

675,000 719,000 (a) (b) 155

77 7810 B 1 14A.14 14A.33(3) 14A 157

* 53 * 50 70 67 54 * 53 20 (i) (ii)(iii) (iv) 158

50 20 70 002191 67 00070 54 17 159

(i) 00070 (ii) 00353 (iii) 01191 (iv) 00718 (v) 08017 13.51(2) 13.51(2)(h) 13.51(2)(v) 13.51(2) 52 38 33 * 49 * 160

52 38 33 49 55 14 00166 120,000 162,000 210,000 56,000 161

500,000 400,000 100,000 100,000 100,000 447,000 A.2.1 162

14 14 163

3A.19 13.10 13.46 164

XV2 3 10% 1 SXD Limited 225,000,000 (L) 2 75 225,000,000 (L) 3 75 1. L 2. 225,000,000 11,250,000 3. 225,000,000 XV2 3 10% 165

2,000,000,000 20,000,000 1 0.01 239,999,999 2,399,999.99 60,000,000 600,000.00 300,000,000 3,000,000.00 8.08 25% 1. 20% 2. 166

10% 167

76.1% 85.3% 91.8% 92.4% 100,400,000 151,000,000 159,100,000 30,600,000 47.3% 56.8% 57.0% 59.8% 48,300,000 168

52,300,000 59,400,000 8,500,000 22.8% 19.7% 21.3% 16.5% 16 80% 212,100,000 265,800,000 279,000,000 51,100,000 14.7% 19,600,000 27.7% (i) (ii) 169

78,000,000 14.8% 52.3% 129,000,000 6.9% 9,600,000 29,700,000 44,700,000 8,200,000 115.6% 28.2% 30.7%3,100,000 6% 16.0% 15.9% 11,670 12.1% 21,650 13.3% 12.4% 170

20025 155 98 (i) (ii) 16 171

193,200,000 193,400,000 194,700,000 31,500,000 43.9% 38.5% 33.7% 37.9% 31.5% 32.4% 27.0% 24.9% (i) 2.5% (ii) 2.0%(iii) 2.1% (i) 12.3% (ii) 7.5%(iii) 7.7% 172

173

3.340 174

3 20 5 10 3 5 175

(a) (b) 176

178

212,143 265,821 278,983 70,709 51,121 (184,437) (215,401) (200,439) (55,134) (35,404) 27,706 50,420 78,544 15,575 15,717 (2,508) (3,340) (3,722) (803) (599) (13,021) (13,623) (20,760) (1,608) (5,224) (95) (65) (80) 3 (93) 12,082 33,392 53,982 13,167 9,801 824 1,696 2,280 479 713 (449) (83) 375 1,613 2,280 479 713 12,457 35,005 56,262 13,646 10,514 (2,833) (5,317) (11,524) (2,615) (2,363) 9,624 29,688 44,738 11,031 8,151 2,802 3,381 485 (623) 2,451 2,802 3,381 485 (623) 2,451 12,426 33,069 45,223 10,408 10,602 27,655 35,975 179

% % % % % 142,339 67.1% 174,432 65.6% 162,476 58.2% 47,931 67.8% 27,587 54.0% 41,975 19.8% 35,748 13.4% 26,256 9.4% 6,282 8.9% 7,320 14.3% 26,994 10.2% 69,044 24.7% 9,946 14.1% 11,952 23.4% 12,099 4.6% 17,244 6.2% 4,361 6.2% 3,688 7.2% 26,627 12.6% 15,285 5.8% 3,457 1.3% 2,189 3.0% 574 1.1% 210,941 99.5% 264,558 99.6% 278,477 99.8% 70,709 100.0% 51,121 100.0% 639 0.3% 651 0.2% 255 0.1% 563 0.2% 612 0.2% 251 0.1% 212,143 100.0% 265,821 100.0% 278,983 100.0% 70,709 100.0% 51,121 100.0% 67.1% 65.6% 58.2% 54.0% 10.2% 24.7% 23.4% 180

212,100,000 25.3%265,800,000 5.0%279,000,000 70,700,000 51,100,000 (i) 20+10 20+10 (ii) (iii) 181

(i) (ii) 129,000,000 6.9% (i) 380 410 (ii) (iii) 0.5% 0.4% 0.2% 90% 182

% % % % % 102,277 48.2% 156,104 58.7% 169,786 60.9% 40,719 57.6% 32,370 63.3% 49,452 23.3% 52,252 19.7% 59,437 21.3% 15,003 21.2% 8,453 16.5% 22,608 10.7% 12,161 4.6% 10,840 5.1% 12,412 4.7% 12,097 4.3% 2,909 4.1% 2,072 4.1% 8,823 4.2% 17,100 6.4% 21,705 7.8% 5,238 7.4% 3,911 7.7% 13,236 6.2% 9,492 3.6% 3,168 1.2% 9,138 3.3% 4,651 6.6% 4,907 2.3% 3,132 1.1% 6,820 2.4% 2,189 3.1% 4,315 8.4% 212,143 100.0% 265,821 100.0% 278,983 100.0% 70,709 100.0% 51,121 100.0% 183

71.5% 78.4% 82.2% 79.8% % % % % % 166,649 90.4% 191,648 89.0% 178,254 89.0% 48,758 88.4% 31,110 87.9% 4,851 2.6% 7,541 3.5% 8,204 4.0% 2,305 4.2% 1,715 4.8% 12,937 7.0% 16,212 7.5% 13,981 7.0% 4,071 7.4% 2,579 7.3% 184,437 100.0% 215,401 100.0% 200,439 100.0% 55,134 100.0% 35,404 100.0% 90% 43.9% 38.5% 33.7% 37.9% 31.5% 32.4% 27.0% 24.9% 184

184,400,000 16.8% 215,400,000 2.5% 12.3% (i) (ii) 2.0% 7.5% 55,100,000 35.8% 35,400,000 (i)27.7% 2.1% 7.7% (ii) 10% 5.0% 6.9%200,400,000 (i) (ii) 46.8% 20.5% 9.2% 2.1% 7.7% 185

% % % % % 24,288 17.1% 67.1% 25,557 14.7% 65.6% 33,309 20.5% 58.2% 8,648 18.0% 67.8% 6,394 23.2% 54.0% 7,398 17.6% 19.8% 7,800 21.8% 13.4% 6,150 23.4% 9.4% 1,327 21.1% 8.9% 1,984 27.1% 14.3% 12,145 45.0% 10.2% 32,283 46.8% 24.7% 3,825 38.5% 14.1% 6,116 51.2% 23.4% 6,643 54.9% 4.6% 7,143 41.4% 6.2% 1,780 40.8% 6.2% 1,243 33.7% 7.2% (4,233) -15.9% 12.6% (1,399) -9.2% 5.8% 318 9.2% 1.3% (5) -0.2% 3.0% (20) -3.5% 1.1% 13.1% 19.0% 28.2% 22.0% 30.7% 186

(i) (ii) (i) (ii) (i) 20+10 20+10 (ii) (iii) 187

62,375 62,299 63,981 1 25,983 25,881 25,971 25,016 16,352 16,648 16,408 15,849 38,120 38,120 38,120 1 119,293 115,792 47,212 49,728 2 1 1. 2. 1 +0.1% +2.7% -0.4% +0.4% -3.7% +1.8% -1.4% -3.4% 1 0.0% 0.0% -2.9% -2.3% 2 +5.3% 1. 2. 188

27,700,000 13.1% 50,400,000 19.0% 78,500,000 28.2% 15,600,000 22.0% 15,700,000 30.7% 13.1% 19.0% (i)(a) (b) (ii) 2.5% 12.3% 28.2% (i)(a) (b)(ii) 2.0% 7.5% (i) (ii)2.1% 7.7%(iii) 189

(i) (ii) (iii) (i) (ii) (iii) (i) 2.5% 0.7% (ii) 2.0% 0.5%(iii) 2.1% 0.4% (i) 12.3% 2.9%(ii) 7.5% 1.3%(iii) 7.7% 1.1% 190

17.1% 14.7% (i) (ii) 12.3% 20.5% (i)(ii) 7.5% 17.6% 21.8% 23.4% 45.0% 46.8% 54.9%41.4% 33.7% (i) (ii) 100,000 191

300,000 700,000 100,000 200,000 (i) (ii) (iii) % % % % % 2,078 82.8% 2,877 86.1% 3,166 85.1% 726 90.4% 459 76.6% 292 11.6% 343 10.3% 313 8.4% 36 4.5% 86 14.4% 87 3.5% 109 3.3% 144 3.9% 12 1.5% 10 1.7% 51 2.1% 11 0.3% 99 2.6% 29 3.6% 44 7.3% 2,508 100.0% 3,340 100.0% 3,722 100.0% 803 100.0% 599 100.0% 2,500,000 3,300,000 3,700,000 600,000 1.2% 1.3% 1.3% 1.2% 192

(i) (ii)(iii) (iv) (v)(vi)(vii) % % % % % 6,768 52.0% 6,731 49.4% 8,743 42.1% 654 12.5% 4,653 22.4% 3,145 60.2% 1,744 13.4% 2,663 19.5% 3,154 15.2% 697 43.3% 498 9.5% 1,639 12.6% 1,812 13.3% 1,421 6.9% 258 16.0% 456 8.7% 801 6.2% 179 1.3% 510 2.5% 95 5.9% 74 1.4% 788 6.0% 932 6.8% 653 3.1% 105 6.5% 103 2.0% 716 5.5% 842 6.2% 901 4.3% 206 12.8% 182 3.5% 565 4.3% 464 3.5% 725 3.5% 247 15.5% 112 2.2% 13,021 100.0% 13,623 100.0% 20,760 100.0% 1,608 100.0% 5,224 100.0% 13,000,000 13,600,000 20,800,000 5,200,000 6.1% 5.1% 7.4% 10.2% 193

% % % % % 5,411 79.9% 6,070 90.2% 7,652 87.5% 149 22.8% 735 10.9% 330 4.9% 585 6.7% 505 77.2% 622 9.2% 331 4.9% 506 5.8% 6,768 100.0% 6,731 100.0% 8,743 100.0% 100.0% 654 100.0% 26,400,000 4,700,000 5,800,000 3,100,000 2,700,0005,800,000 10,100,000 194

(i) (ii) 95 65 55 (15) 46 25 12 47 95 65 80 (3) 93 (i)(ii) (iii) 824 1,477 1,746 436 713 219 534 43 824 1,696 2,280 479 713 (449) (83) 375 1,613 2,280 479 713 195

9,600,000 29,700,000 44,700,000 8,200,000 4.5% 11.2% 16.0% 15.9% (i) (ii) 1.2% 1.3% 1.3% 1.2% 6.1% 5.1% 7.4% 10.2% 212,100,00025.3% 265,800,000 (i)142,300,000 22.6% 174,400,000 (ii) 39,100,000 (iii) 26,600,000 42.6% 15,300,000 196

(i)53,800,000 (ii)8,300,000 (iii) 10,400,000 3,800,000 184,400,000 16.8% 215,400,000 2.5% 12.3% 27,700,000 13.1% 50,400,000 19.0% (i) 45.0% 54.9% (ii) -15.9% -9.2% (iii) 197

2,500,000 800,00033.2% 3,300,000 800,000 13,000,000 600,0004.6% 13,600,000 900,000 95,000 30,00031.6% 65,000 400,000 1,200,000330.1% 1,600,000 9,600,000 20,100,000208.5% 29,700,000 198

265,800,0005.0% 279,000,000 (i) 47,200,000 (ii)12,000,000 6.9% 9,500,000 26.6% (iii) 15,300,000 77.4% 3,500,000 (i) (ii) (i) 14,100,000 (ii) 7,200,000(iii) 4,600,000 (iv)6,000,000 (v) (vi) 3,400,000 199

215,400,000 6.9% 200,400,000 2.0% 7.5% (i) (ii) 46.8% 20.5% 9.2% 50,400,000 19.0% 78,500,000 28.2% 2.0% 7.5% 3,300,000 400,00011.4% 3,700,000 300,000 200

13,600,000 7,100,00052.4% 20,800,000 (i)2,000,000 (ii)4,700,000 (iii)500,000 65,000 15,00023.1% 80,000 (i) 25,000 (ii) 10,000 1,600,000 700,00041.4% 2,300,000 (i) 300,000 (ii) 300,000 29,700,000 15,100,00050.7% 44,700,000 70,700,00027.7% 51,100,000 (i) 20,300,000 (ii)1,600,000 (iii) 3,000,000 201

8,300,000 (i)(ii) 6,600,000 (iii) 4,700,000 (i) (ii) 55,100,00035.8% 35,400,000 (i) 27.7% (ii) 202

15,600,000 22.0%15,700,000 30.7% (i) (ii)2.1% 7.7%(iii) 800,000 200,00025.4% 600,000 300,000 1,600,000 3,600,000224.9% 5,200,000 3,100,000 (i) 47,000 (ii) 46,000 500,000 200,000 48.9% 700,000 203

11,000,000 2,900,00026.1% 8,200,000 3,100,000 41,700,000 41,200,000 45,500,000 49,400,000 500,000 4,400,000 (i) 9,100,000 (ii) 4,900,000 3,900,000 (i) 4,600,000 (ii) 1,400,000 16,800,000 5,900,000 7,000,000 7,100,000 7,000,000 7,000,000 50 5,100,000 5,900,000 204

% % % % % 24,559 77.7% 20,374 84.9% 14,608 42.7% 13,305 37.4% 13,877 53.9% 7,052 22.3% 3,627 15.1% 19,614 57.3% 22,244 62.6% 11,879 46.1% 31,611 100.0% 24,001 100.0% 34,222 100.0% 35,549 100.0% 25,756 100.0% (295) (956) (758) (905) (462) 31,316 23,045 33,464 34,644 25,294 19.6% 13.9% 15.9% 19.5% 295 956 758 295 661 (198) 147 295 956 758 905 300,000 1,000,000 800,000 900,000 205

31,300,00026.4% 23,000,000 45.2% 33,500,000 (i) 5,600,000(ii) 16,000,000 2,500,000 206

30 31 60 61 180 181 1 24,276 11,555 3,406 6,671 2,644 7,040 1,704 5,083 253 31,316 13,259 8,489 6,924 2,644 30 31 60 61 180 181 1 20,141 11,297 3,695 4,535 614 2,904 2,624 165 115 23,045 13,921 3,860 4,650 614 30 31 60 61 180 181 1 14,563 11,015 167 2,940 441 18,901 12,324 4,691 1,886 33,464 23,339 4,858 4,826 441 30 31 60 61 180 181 1 13,271 7,096 3,586 2,400 189 21,373 7,739 4,702 8,738 194 34,644 14,835 8,288 11,138 383 207

(i)(ii) 31 60 61 180 (i) (ii) 92% 40 46 52 88 58 3659192 208

40 46 52 (i) (ii) (i)(ii) 58 209

57,900,000 55,500,000 65,500,000 54,000,000 57,900,0002,400,0004.1% 55,500,000 10,000,000 18.0% 65,500,000 11,500,000 17.6%54,000,000 % % % % 52,531 90.8% 51,418 92.7% 65,488 100.0% 53,950 100.0% 5,343 9.2% 4,071 7.3% 57,874 100.0% 55,489 100.0% 65,488 100.0% 53,950 100.0% 180 90.8% 92.7% 100.0% 100.0% 5,300,000 4,100,000 210

% % % % 30 41,866 79.7% 43,346 84.3% 40,971 62.6% 36,117 66.9% 31 60 6,475 12.3% 7,521 14.6% 20,470 31.3% 12,814 23.8% 61 90 4,190 8.0% 2,298 3.5% 2,825 5.2% 91 180 551 1.1% 1,749 2.6% 2,049 3.8% 180 145 0.3% 52,531 100.0% 51,418 100.0% 65,488 100.0% 53,950 100.0% 60 90 91 180 180 104 78 79 106 74 365 9192 211

180 79106 (i) (ii) 106 74 86% 212

% % % % 1,858 39.1% 613 8.8% 835 95.4% 711 18.3% 2,710 69.9% 6,292 90.7% 2,897 60.9% 33 0.5% 40 4.6% 456 11.8% 4,755 100.0% 6,938 100.0% 875 100.0% 3,877 100.0% 1,900,000 14 1,509 13,195 5,638 32,676 237 247 247 10,725 11,144 1,892 43,638 11,391 2,139 213

23,000,000 29,100,000 1,100,000 1,400,000 21,900,000 27,700,000(i) 19,000,000 24,000,000 (ii) 9,500,000 12,000,000 SXD Limited 78,100,000 83,000,000 91,100,000 79,300,000 4,800,000 6.2% 8,200,000 9.8% 91,100,000 79,300,000 0.05% 180 60 90 % % % % 18,304 23.4% 25,928 31.2% 40,761 44.7% 33,402 42.1% 59,832 76.6% 57,044 68.8% 50,372 55.3% 45,938 57.9% 78,136 100.0% 82,972 100.0% 91,133 100.0% 79,340 100.0% 214

23.4% 31.2% 44.7% 42.1% 180 % % % % 90 16,821 91.9% 23,594 91.0% 34,393 84.4% 24,747 74.1% 91 180 1,327 7.2% 2,168 8.4% 4,465 11.0% 8,382 25.1% 180 156 0.9% 166 0.6% 1,903 4.6% 273 0.8% 18,304 100.0% 25,928 100.0% 40,761 100.0% 33,402 100.0% 60 90 91.9% 91.0% 84.4% 74.1% 90 53,900,000 52,300,000 49,800,000 46,300,0005,300,000 4,100,000 153 137 159 219 155 3659192 215

180 (i) (ii) 159219 (i)(ii) 52.1% 80.2% 219 155 216

% % % % 3,118 85.5% 3,996 44.7% 4,733 46.3% 4,059 26.1% 129 3.5% 3,958 44.2% 3,008 29.4% 3,699 23.8% 590 5.8% 4,448 28.6% 619 6.1% 2,165 13.9% 398 11.0% 993 11.1% 1,264 12.4% 1,176 7.6% 3,645 100.0% 8,947 100.0% 10,214 100.0% 15,547 100.0% (i) (ii) 2,300,000 2,700,000 3,100,000 217

3,100,000 4,000,000 4,700,000 1,000,000 2,500,000 31,316 23,045 33,464 34,644 25,294 57,874 55,489 65,488 53,950 71,797 4,755 6,938 875 3,877 5,014 1,509 13,195 5,638 1,262 635 596 729 53,857 52,267 49,810 46,326 47,747 11,697 27,001 46,596 32,611 54,657 159,499 166,249 210,063 177,642 206,500 218

78,136 82,972 91,133 79,340 82,436 3,645 8,947 10,214 15,547 20,033 43,638 11,391 2,139 5,936 6,142 7,881 7,545 5,677 7,794 137,497 111,191 111,031 100,564 110,263 22,002 55,058 99,032 77,078 96,237 22,000,000 33,100,000 150.2% 55,100,000 (i) 32,200,000 (ii) 15,300,000(iii)8,300,000 44,000,000 79.9%99,000,000(i) 19,600,000 (ii) 11,700,000 (iii)10,000,000 (iv)10,400,000 (v)9,300,000 (vi)8,200,000 219

22,000,000 22.2% 77,100,000(i)27,700,000 (ii) 11,500,000 (iii) 7,600,000 (iv) 11,800,000 (v)2,100,000 (vi)5,300,000 3,900,000 1,500,000 19,200,000 24.8% 96,200,000 (i) 22,000,000 (ii) 17,800,000 (iii) 9,400,000 25% 15% 25% 22% 15% 220

10% 5% 3,033 5,600 8,965 2,148 1,856 (200) (283) 231 (51) 54 2,328 518 453 2,833 5,317 11,524 2,615 2,363 22.7% 15.2% 20.5% 19.2% 22.5% 22.7% 15.2% 16.3% 15.4% 18.2% 22.7% 15.2% 16.3% 15% 22% 18.2% 221

5% 11,700,000 27,000,000 46,600,000 32,600,0006.3% 12.5% 23.2% 92.1% 23.145.8 84.983.8 53,900,000 52,300,000 49,800,000 46,300,000 222

(7,523) 59,315 38,587 8,154 5,280 (22,735) (7,442) (10,011) (9,422) 9,252 30,684 (38,266) (9,252) (5,537) (30,249) 426 13,607 19,324 (6,805) (15,717) 10,394 11,697 27,001 27,001 46,596 877 1,697 271 (379) 1,732 11,697 27,001 46,596 19,817 32,611 7,500,00012,500,000 22,400,000 59,300,000 35,000,000 (i)7,600,000 (ii)5,300,000 (iii)4,100,000 (iv) 4,800,000 38,600,000 56,300,000 (i) 10,000,000 (ii)10,200,000 (iii)8,200,000 223

5,300,000 10,500,000 (i) 11,800,000 (ii)1,300,000 (iii)11,500,000 22,700,000 (i) 18,800,000 (ii) 4,800,000 7,400,0006,300,000 10,000,000(i)6,300,000 (ii)2,500,000 (iii) 8,700,000 (iv)11,700,000 9,300,000(i) 7,600,000 (ii)3,500,000(iii) 2,500,000 30,700,000 (i) 5,900,000 (ii)11,400,000 (iii) 36,600,000 38,300,000 (i)5,900,000 (ii) 32,200,000 9,300,000 224

30,200,000 (i)27,700,000(ii) 2,100,000 12 35% 23,000,000 29,100,000 1,100,000 1,400,000 21,900,000 27,700,000(i) 19,000,000 24,000,000 (ii) 9,500,000 12,000,000SXD Limited 225

5,900,000 16,800,000 5,100,000 5,936 5,936 32,676 237 247 247 10,725 11,144 1,892 43,638 11,391 2,139 49,574 11,391 2,139 226

13.13 13.19 13.1313.19 409 344 2,306 475 1,222 227

8,544 17,334 23,682 18,666 56,962 55,168 66,375 57,611 6,279 6,304 2,626 65,506 78,781 96,361 78,903 228

78.7% 79.5% 90.9% 87.8% 33.2% 33.2% 67.4% 66.8% 229

6,019 78,136 3,645 43,638 131,438 82,972 8,947 11,391 103,310 91,133 10,214 2,139 103,486 79,340 15,547 94,887 230

30 78,000,000 14.8% 52.3% (i) (ii) (iii) 129,000,000 6.9%(iv) 2.2% 231

26,400,000 4,700,000 5,800,000 3,100,000 2,700,0005,800,000 10,100,000 12 2.5% 12.3% 232

+/-2.5% +/-2.5% +/-2.5% +/-2.5% -/+1.8 -/+1.8 -/+1.6 -/+0.2 +/-12.3% +/-12.3% +/-12.3% +/-12.3% -/+9.4 -/+8.5 -/+5.6 -/+0.8 1 25.3% 5.0% (27.7%) 2 208.5% 50.7% (26.1%) 3 13.1% 19.0% 28.2% 22.0% 30.7% 4 4.5% 11.2% 16.0% 15.6% 15.9% 5 13.5% 28.4% 29.9% 6.1% 6 4.6% 13.8% 17.0% 3.5% 233

7 1.2 1.5 1.9 1.8 8 0.9 1.3 1.6 1.4 9 104 78 79 106 74 10 153 137 159 219 155 11 40 46 52 88 58 12 0.1 13 0.1 0.3 0.3 0.2 14 26.9 402.3 1. 2. 3. 100% 4. 100% 5. 100% 6. 100% 7. 8. 9. 3659192 234

10. 3659192 11. 3659192 12. 13. 14. (i) (ii) (iii) (iv) (i) (ii)(iii) 27,700,000 235

5,900,000 (i) (ii) 27,700,000 4.29 1 2 3 1.18 132,771 52,474 185,245 0.62 1.48 132,771 69,934 202,705 0.68 236

(1) 132,771,000 (2) 1.18 1.48 (3) 300,000,000 (4) 35,975,000 1.181.48 0.50 0.56 237

1.331.48 1.18 53,400,000 20,600,00038.5% (a) (b) 20,600,00038.5% (i)(ii) (iii) (iv) (v)(vi) 5,600,000 10.6% (i) (ii) (iii) (iv) (v) 238

2,000,0003.7% 2,000,0003.7% 2,600,0005.0% 1.48 62,100,000 78,300,000 1.18 44,700,000 45,100,000 1.33 20,000,000 239

20,000,0001.48 1.33 1.18 13,512,000 15,036,00016,948,0002,000 4.5% 5.0% 5.6% 1335 240

241

(a) (i) (ii) 242

(iii) (iv) (b) (i) (ii) (iii) (iv) (v) 243

(vi) (vii) (viii) (ix) (x) (xi) (1) (2) (3) 10.08 10.08 244

10.07(1) SXD Limited (i) (ii) (i) (i) 10.07 (2) 10.07 155 10.07 3 12 (i) 155 (ii) 245

(i) (ii) (i) 30% (i) (iii) (i)(ii) 246

(iv) (a) 13.25(2) (b) (a) SXD Limited 30% SXD Limited 247

30 11,250,000 15% 3% 27,400,000 1.33 1.48 1.18 248

(i) (ii) (iii) 13.46 249

1.481.18 1.48 1%0.003% 0.005% 2,000 2,989.84 www.huaxihds.com.hk www.hkexnews.hk 1. 250

2. 155 67,500,000 7,500,000 25% 251

67,500,000 90% 7,500,000 10% (2) 3,750,0005,000,000 3,750,000 5,000,000 252

100% (i) 112,500,000 15375,000,000 50 22,500,00075,000,000 30% (ii) 375,000,000 50750,000,000 100 30,000,000 75,000,000 40% (iii) 750,000,000 100 37,500,000 75,000,000 50% 253

30 15% 3.6% 254

11,250,000 15% (i) (ii) (i) (A) (1) (2) (B) (ii)(a) (C) (i) (D) (ii)(a)(2) (ii)(b) (ii)(c) 30 255

11,250,000 SXD Limited 11,250,000 SXD Limited 11,250,000 (i) (ii) SXD Limited SXD Limited 256

1. eipowww.eipo.com.hk eipo 2. 18 S eipo (i) (ii) eipo 257

3. www.eipo.com.hk (i) 189 22 258

(ii) 4-4A 38-40A 399 284 G 31 A 414 8A-10 G201 298 C G047-G052 23 25 1&2 223 175-176 199 2 259

4. eipo (i) (ii) (iii) (iv) (v) 260

(vi) (vii) (viii) (ix) (x) (xi) (xii) (i) (ii) SS 902 (h)(3) (xiii) (xiv) (xv) 261

(xvi) (xvii) (xviii) eipo (xix) (i) (ii) 5. eipo eipo www.eipo.com.hk eipo eipo eipo 262

eipo www.eipo.com.hk 24 eipo eipo eipo eipo eipo 40 40 342E eipo eipo www.eipo.com.hk eipo 263

6. 29797888 https://ip.ccass.com 199 2 (i) 264

(ii) 265

40 266

2,000 2,000 (1) (1) (1) (1) (1) 267

24 40 40 342E 7. eipo eipo eipo 268

(i) (ii) 8. eipo 9. 269

eipo 2,000 2,000 www.eipo.com.hk 10. 11. www.huaxihds.com.hk www.hkexnews.hk www.huaxihds.com.hk www.hkexnews.hk 24 www.iporesults.com.hk 270

(852) 2862 8669 12. (i) eipo 40 342E 271

(ii) eipo (iii) (iv) eipo 50% 272

13. 1.48 14. (i) (ii) 273

(i) 1,000,000 18317 1712-1716 1,000,000 (ii) 1,000,000 1,000,000 274

(iii) eipo 1,000,000 183 17 1712-1716 1,000,000 275

(iv) 276

15. 277

3.340 IIV II 1.2 II 1.2 I-1

II 1.2 II 1.3 II 1.3 3.340 II 1.3 II IV I-2

II 1.3 II 2 2410 II 1.3 II 2 I-3

I. 1.3 (a) 6 212,143 265,821 278,983 70,709 51,121 7 (184,437) (215,401) (200,439) (55,134) (35,404) 27,706 50,420 78,544 15,575 15,717 7 (2,508) (3,340) (3,722) (803) (599) 7 (13,021) (13,623) (20,760) (1,608) (5,224) 9 (95) (65) (80) 3 (93) 12,082 33,392 53,982 13,167 9,801 824 1,696 2,280 479 713 (449) (83) 10 375 1,613 2,280 479 713 12,457 35,005 56,262 13,646 10,514 11 (2,833) (5,317) (11,524) (2,615) (2,363) 9,624 29,688 44,738 11,031 8,151 2,802 3,381 485 (623) 2,451 2,802 3,381 485 (623) 2,451 12,426 33,069 45,223 10,408 10,602 12 13 27,655 35,975 I-4

(b) 14 41,715 41,182 45,536 49,441 15 7,017 7,125 6,983 7,037 279 409 23 519 827 601 556 49,530 49,543 53,120 57,034 16 31,316 23,045 33,464 34,644 17 57,874 55,489 65,488 53,950 18 4,755 6,938 875 3,877 30(d) 1,509 13,195 5,638 635 596 19 53,857 52,267 49,810 46,326 20 11,697 27,001 46,596 32,611 159,499 166,249 210,063 177,642 209,029 215,792 263,183 234,676 21 35,000 35,000 35,000 35,000 22 36,532 69,601 114,824 97,771 71,532 104,601 149,824 132,771 I-5

23 2,328 1,341 24 78,136 82,972 91,133 79,340 25 3,645 8,947 10,214 15,547 30(d) 43,638 11,391 2,139 26 5,936 6,142 7,881 7,545 5,677 137,497 111,191 111,031 100,564 137,497 111,191 113,359 101,905 209,029 215,792 263,183 234,676 22,002 55,058 99,032 77,078 71,532 104,601 152,152 134,112 I-6

(c) 21 22 35,000 331 4,581 274 18,920 24,106 59,106 9,624 9,624 9,624 2,802 2,802 2,802 2,802 9,624 12,426 12,426 664 (664) 35,000 995 7,383 274 27,880 36,532 71,532 35,000 995 7,383 274 27,880 36,532 71,532 29,688 29,688 29,688 3,381 3,381 3,381 3,381 29,688 33,069 33,069 2,050 (2,050) 35,000 3,045 10,764 274 55,518 69,601 104,601 35,000 3,045 10,764 274 55,518 69,601 104,601 44,738 44,738 44,738 485 485 485 485 44,738 45,223 45,223 5,262 (5,262) 35,000 8,307 11,249 274 94,994 114,824 149,824 I-7

21 22 35,000 8,307 11,249 274 94,994 114,824 149,824 8,151 8,151 8,151 2,451 2,451 2,451 2,451 8,151 10,602 10,602 (27,655) (27,655) (27,655) 35,000 8,307 13,700 274 75,490 97,771 132,771 35,000 3,045 10,764 274 55,518 69,601 104,601 11,031 11,031 11,031 (623) (623) (623) (623) 11,031 10,408 10,408 35,000 3,045 10,141 274 66,549 80,009 115,009 I-8

(d) 27 (5,828) 63,444 47,920 9,999 10,535 (1,695) (4,129) (9,333) (1,845) (5,255) (7,523) 59,315 38,587 8,154 5,280 (4,788) (2,927) (8,694) (1,583) (2,502) (6,292) 6,292 159 (949) (319) 289 (1,509) (11,686) (9,677) 7,557 (18,771) 1,590 2,457 1,519 3,484 824 1,696 2,280 479 713 (22,735) (7,442) (10,011) (9,422) 9,252 5,936 (11,374) (5,936) (449) (83) (455) 36,571 (32,247) (9,252) (5,537) (2,139) 13 (27,655) 30,684 (38,266) (9,252) (5,537) (30,249) 426 13,607 19,324 (6,805) (15,717) 10,394 11,697 27,001 27,001 46,596 877 1,697 271 (379) 1,732 20 11,697 27,001 46,596 19,817 32,611 I-9

II. 1. 1.1 Appleby Trust (Cayman) Ltd. Clifton House, P.O. Box 1350, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands 1.2 (a) SXD Limited (b) 38,000,000 0.010.01 SXD Limited (c) Xinda Capital Limited (d) Xinda Capital Limited (e) 35,000,000 (f) 1 I-10

Xinda Capital Limited 50,000 100% (a) 1 100% (a) 35,000,000 100% (b) (a) (b) 1.3 3.340 2. 2.1 4 I-11

32 10 12 27 36 39 21 9 7 9 9 2.2 50% 50% 2.3 2.4 (a) I-12

(b) (c) 2.5 50 2.6 3-20 5-10 3-5 2.7 I-13

2.7 2.8 2.8.1 (a) (b) 2.13 2.8.2 I-14

2.9 2.10 2.11 2.12 2.13 I-15

2.14 2.15 2.16 (a) (b) I-16

2.19 2.20 (a) (b) (c) 2.21 I-18

2.22 3. 3.1 3.1.1 (a) (b) 0.4% 2.8% 0.5% 3.3% 0.35% 2.8% 0.35% 2. 8% 3.79% 3.28% 1% 50,000 I-19

(c) 3.1.2 (i) 8,544 17,334 23,682 18,666 56,962 55,168 66,375 57,611 6,279 6,304 2,626 65,506 78,781 96,361 78,903 (i) 78.7% 79.5% 90.9% 87.8% 33.2% 33.2% 67.4% 66.8% I-20

17 18 30(d) 3.1.3 6,019 78,136 3,645 43,638 131,438 82,972 8,947 11,391 103,310 91,133 10,214 2,139 103,486 79,340 15,547 94,887 3.2 I-21

3.3 635 635 596 596 I-22

4. (a) (b) (c) (d) 5. I-23

6. 211,504 265,170 278,728 70,709 51,121 639 651 255 212,143 265,821 278,983 70,709 51,121 99.7% 99.8% 99.9% 100.0% 100.0% 80.8% 81.4% 78.3% 75.0% 76.3% 47.3% 56.8% 57.0% 53.8% 59.8% 22.8% 19.7% 21.3% 21.2% 16.5% 10.7% 4.9% 80.8% 81.4% 78.3% 75.0% 76.3% 10% I-24

7. 179,028 205,558 191,690 50,580 31,669 295 661 (198) 109 147 14 4,320 4,920 4,910 1,058 1,413 15 157 164 167 42 42 7,331 10,535 11,943 3,002 2,719 3,175 3,941 4,171 1,092 784 2,078 2,877 3,166 726 459 4,653 3,145 1,093 522 823 131 160 1,146 1,869 2,166 460 464 257 359 353 113 49 642 755 457 55 128 15 16 42 4 11 429 187 578 173 37 199,966 232,364 224,921 57,545 41,227 6,768 6,731 8,743 654 8. 6,482 9,414 10,665 2,664 2,454 (c) 849 1,121 1,278 338 265 7,331 10,535 11,943 3,002 2,719 I-25

(a) (i) 56 4 60 56 4 60 * * * 112 8 120 (ii) 76 5 81 76 5 81 * * * 152 10 162 (iii) 98 7 105 98 7 105 * * * 196 14 210 I-26

(iv) 25 3 28 25 3 28 * * * 50 6 56 (v) 21 1 22 21 1 22 * * * 42 2 44 * (b) 143 193 217 56 72 13 17 20 5 6 156 210 237 61 78 I-27

1,000,000 3 3 3 3 3 (c) 15% 9. (95) (65) (55) 15 (46) (25) (12) (47) (95) (65) (80) 3 (93) I-28

10. 824 1,477 1,746 436 713 219 534 43 824 1,696 2,280 479 713 (449) (83) 375 1,613 2,280 479 713 11. 25% 15% 25% 22% 15% I-29

10% 5% 3,033 5,600 8,965 2,148 1,856 (200) (283) 231 (51) 54 2,328 518 453 2,833 5,317 11,524 2,615 2,363 12,457 35,005 56,262 13,646 10,514 2,523 5,250 8,371 2,047 1,557 532 67 825 50 353 (222) 2,833 5,317 9,196 2,097 1,910 2,328 518 453 2,833 5,317 11,524 2,615 2,363 12. 1.3 I-30

13. 23,017,00029,095,000 1,145,000 1,440,000 21,872,000 27,655,000 19,000,000 23,975,0009,500,000 12,000,000 14. 25,301 25,268 1,392 51,961 (5,215) (6,754) (340) (12,309) 20,086 18,514 1,052 39,652 20,086 18,514 1,052 39,652 865 837 43 1,745 1,391 3,242 5 4,638 (2,134) (2,073) (113) (4,320) 20,208 20,520 987 41,715 27,831 29,688 1,458 58,977 (7,623) (9,168) (471) (17,262) 20,208 20,520 987 41,715 20,208 20,520 987 41,715 745 806 39 1,590 2,663 134 2,797 (2,342) (2,463) (115) (4,920) 18,611 21,526 1,045 41,182 28,920 33,564 1,652 64,136 (10,309) (12,038) (607) (22,954) 18,611 21,526 1,045 41,182 I-31

18,611 21,526 1,045 41,182 71 86 4 161 3,522 5,581 9,103 (2,022) (2,803) (85) (4,910) 20,182 24,390 964 45,536 32,555 39,281 1,658 73,494 (12,373) (14,891) (694) (27,958) 20,182 24,390 964 45,536 20,182 24,390 964 45,536 307 331 13 651 4,624 43 4,667 (596) (795) (22) (1,413) 24,517 23,926 998 49,441 37,662 39,823 1,724 79,209 (13,145) (15,897) (726) (29,768) 24,517 23,926 998 49,441 18,611 21,526 1,045 41,182 (105) (120) (5) (230) 453 453 (378) (659) (21) (1,058) 18,128 21,200 1,019 40,347 28,755 33,827 1,643 64,225 (10,627) (12,627) (624) (23,878) 18,128 21,200 1,019 40,347 16,799,000 26 I-32

2,215 2,920 3,155 863 1,000 2,105 2,000 1,755 195 413 4,320 4,920 4,910 1,058 1,413 15. 50 7,705 8,042 8,357 8,357 8,387 (828) (1,025) (1,232) (1,232) (1,404) 6,877 7,017 7,125 7,125 6,983 / 6,877 7,017 7,125 7,125 6,983 297 272 25 (40) 96 (157) (164) (167) (42) (42) / 7,017 7,125 6,983 7,043 7,037 8,042 8,357 8,387 8,310 8,504 (1,025) (1,232) (1,404) (1,267) (1,467) 7,017 7,125 6,983 7,043 7,037 10 50 7,017 7,125 6,983 7,043 7,037 I-33

29 31 31 8 8 128 133 136 34 34 157 164 167 42 42 5,141,000 26 16. 24,559 20,374 14,608 13,305 7,052 3,627 19,614 22,244 31,611 24,001 34,222 35,549 (295) (956) (758) (905) 31,316 23,045 33,464 34,644 295 956 758 295 661 (198) 147 295 956 758 905 17. 52,531 51,418 65,488 53,950 5,343 4,071 57,874 55,489 65,488 53,950 I-34

(a) 30 41,866 43,346 40,971 36,117 3160 6,475 7,521 20,470 12,814 6190 4,190 2,298 2,825 91180 551 1,749 2,049 180 145 52,531 51,418 65,488 53,950 60 90 (b) 57,808 55,077 64,241 53,121 66 412 1,247 829 57,874 55,489 65,488 53,950 (c) (d) 5,343,000 4,071,000 18. 1,858 613 835 711 2,710 6,292 2,897 33 40 456 4,755 6,938 875 3,877 (a) I-35

(b) 14 19. 53,857 52,267 49,810 46,326 53,857,000 52,267,000 49,810,000 46,326,000 20. 11,365 26,568 46,102 24,495 331 407 336 335 1 26 158 7,781 11,697 27,001 46,596 32,611 21. 22. 10% 50% I-36

23. 12 503 803 487 555 12 16 24 114 1 519 827 601 556 12 (2,328) (1,341) 519 827 (1,727) (785) 302 519 827 827 (1,727) 17 25 5 (5) 9 200 283 (2,559) (467) (507) 1,440 519 827 (1,727) 355 (785) I-37

270 32 302 15 2 17 143 13 44 200 428 47 44 519 20 2 3 25 160 27 96 283 608 76 143 827 2 1 2 5 (236) 36 (31) (231) 374 113 114 601 7 2 9 39 (113) 20 (54) 420 136 556 608 76 143 827 (3) (2) (5) 26 9 16 51 631 83 159 873 I-38

2,328 2,328 453 (1,440) 1,341 518 518 1,451,000 2,918,000 2,918,000 2,918,000 29,016,000 58,351,000 58,351,000 58,351,000 24. (a) 18,304 25,928 40,761 33,402 59,832 57,044 50,372 45,938 78,136 82,972 91,133 79,340 (a) 90 16,821 23,594 34,393 24,747 90 180 1,327 2,168 4,465 8,382 180 156 166 1,903 273 18,304 25,928 40,761 33,402 I-39

6 25. 3,118 3,996 4,733 4,059 129 3,958 3,008 3,699 398 993 2,473 7,789 3,645 8,947 10,214 15,547 3,645 8,947 9,624 11,099 590 4,448 3,645 8,947 10,214 15,547 26. (a) 5,936 (a) 6.06% I-40

27. 12,457 35,005 56,262 13,646 10,514 4,320 4,920 4,910 1,058 1,413 157 164 167 42 42 295 661 (198) 109 147 (375) (1,613) (2,280) (479) (713) 95 65 80 (3) 93 (22,418) 7,610 (10,221) (551) (1,327) 5,316 2,385 (9,999) (1,702) 11,538 (3,707) 4,109 (229) 411 (292) 1,479 4,836 8,161 (1,144) (11,793) (3,447) 5,302 1,267 (1,388) 913 (5,828) 63,444 47,920 9,999 10,535 28. 29. 409 344 2,306 475 1,222 I-41

30. (a) (b) 675 719 (c) 287 385 484 106 134 25 32 40 9 10 312 417 524 115 144 I-42

(d) (i) 1,509 13,195 5,638 (i) 32,676 237 247 247 10,725 11,144 1,892 43,638 11,391 2,139 (i) 161B 1,509 13,195 13,195 I-43

31. (i) (ii) (iii) 239,999,999 19,000,000 23,975,0009,500,000 12,000,000 III. 38,000,0000.01 0.01 0.01 IV. I-44

A. 4.29 1 2 3 1.18 132,771 52,474 185,245 0.62 1.48 132,771 69,934 202,705 0.68 (1) 132,771,000 II-1

(2) 1.18 1.48 (3) 300,000,000 (4) 35,975,000 1.181.48 0.50 0.56 II-2

B. II-1 II-2 II-1 II-2 4.29 7 7, II-3

4.29(7) 3420 4.29 7 II-4

(a) (b) (c) 4.29(1) II-5

1. (a) (b) 2. (a) (i) (ii) III-1

4 (b) (i) III-2

(ii) (iii) (iv) III-3

(v) (aa) III-4

(bb) (cc) (dd) (ee) (vi) III-5

(vii) III-6

7 7 (aa) (bb) (cc) (6) (dd) (ee) III-7

(ff) (gg) (hh) (viii) (ix) 30 III-8

(x) (c) (d) (e) (a) (b) (c) (d) (e) (f)(g) III-9

(h) (f) 21 95% 21 15 14 (g) III-10

(i) (ii) (iii) (iv) III-11

(h) 15 (i) 21 21 21 III-12

(j) 21 14 (i) (ii) 95% III-13

(aa) (bb) (cc) (dd) (ee) (ff) 20% (gg) (k) III-14

30 (l) (m) III-15

(n) (i) (ii) (aa) (bb) III-16

20% (o) III-17

(p) 20% 20% 14 14 III-18

20% (q) (r) (s) 3(f) III-19

(t) (i) (ii) (u) III-20

(i) 12 (ii) 12 (iii) (iii) (v) 3. (a) III-21

(b) (i) (ii) (iii) 37 (iv) (v) III-22

(e) 34 37A(7) 34 2(n) 37A(7)(c) (f) Foss v. Harbottle (i) (ii) (iii) III-24

(g) (h) 59 (i) (ii)(iii) 59 III-25

(i) (j) 6 (i) (ii) (aa) (bb) 6(3) (k) (l) III-26

(m) (n) (o) (i) (ii)(iii) III-27

(i)(ii) (p) 75% III-28

(q) 90% (r) 4. III-29

IV-1

(i) (ii)(iii) (iv) (v) IV-2

IV-3

IV-4

5% IV-5

IV-6

33% 25% (1) 5(2) 25% 10% 25% 5% IV-7

15% 17% 13% ; 10,000 200,000 IV-8

10,000 200,000 0.5% 1% 5%10% ; IV-9

A. 1. (a) 18333 19 6-7XI 218-220 16 C (b) 2. 380,000 38,000,000 0.01 (a) SXD Limited (b) 1,962,000,000 380,000 38,000,00020,000,0002,000,000,000 20,000,000 2,000,000,000 3,112,500 311,250,000 1,688,750,000 V-1

3. (a) Xinda Capital Limited Xinda Capital Limited 50,000 1 (b) 100,000 10,000,0000.01 (c) 35,000,000 4. (a) 1,962,000,000 380,000 38,000,000 20,000,000 2,000,000,000 V-2

(b) (i) (ii) (iii) 2,399,999.99 239,999,999 (iv) 20% V-3

(i)(ii) (iii) (iv) (v) 10% (vi) 4(b)(iv) 4(b)(v) (c) 4(b)(iv) 4(b)(iv)4(b)(v) (i)(ii) (iii) V-4

5. 6. (a) (b) 10% (i)(ii) (iii) (c) V-5

(d) (e) (f) 300,000,000 30,000,000 (g) V-6

26 B. 1. (a) 35,000,000 (b) 1 (c) (d) V-7

(e) 20,000,000 (f) 2. (a) A B Xinda Capital Limited 16 302663569 16 (b) ZL201010597104.7 V-8

ZL200510035437.X (c) huaxihds.com.hk C. 1. XV XV7 8 352 1 225,000,000 (L) 2 75 V-9

1. L 2. 225,000,000SXD Limited SXD Limited SXD Limited 225,000,000 225,000,00011,250,000 2. XV2 3 10% 1 SXD Limited 225,000,000 (L) 2 225,000,000 (L) 3 75 75 1. L 2. 225,000,000 11,250,000 3. 225,000,000 3. (a) V-10

120,000 (b) 300,000 (c) (i) 196,000 (ii) 196,000 4. D. 1. (a) (i) V-11

7(b) (ii) (b) 1(a) (c) 1(a)(i) 2. (a) 3(a) (b) 3(b) (c) 113 (d) 5(d)(i) V-12

3. (a) 3(b) 4 4 (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) V-13

(b) 7(d) (c) (d) (i) 6 (ii) (e) 3(d) (i) (ii) (iii) (iv) V-14

(v) (vi) (vii) (viii) 2(d)5(a) (f) 1 (g) 1 (h) 3(f)3(g) 3(f) 3(g) (i) (j) V-15

(k) (i) (aa) (bb) (ii) 4. 8 (a) (b) (c) 4(b) V-16

5. (a) (b) (c) 2(d) 5(d)5(e) 5(d)(iii) 8 5(d)(i) (d) (i) 5(c) V-17

5(d)(iii)5(d)(iv) 5(d)(iii)5(d)(iv) (ii) 6(a)(iv) 5(c) 5(d)(iii) 5(d)(iv) 5(d)(iii)5(d)(iv) (iii) 5(c) V-18

(iv) 5(c) (v) (aa) 5(d)(i)5(d)(ii)6(a)(iv)6(a)(v) 5(d)(i)5(d)(ii)6(a)(iv)6(a)(v) (bb) (e) V-19

6. (a) (i) (ii) 5(d) (iii) (iv) (v) (aa)(1) (2) (3) (bb) (1)(2)(3) (vi) 5(a) (b) 6(a)(iv) 6(a)(v)(aa) V-20

(i) (ii) (iii) (i) (ii) (iii) (iv) 8(a) (b) 8(a) 5(c) 8(a) (c) 8 8(a) V-23

9. (a) 5(a)17 (b) 7(b)(i)7(b)(ii) 10. 11. 8(a) 12. (a) 12(b)12(d) (i) (ii) 17.03 V-24

(b) (c) (d) 12 13. 30,000,000 E. 1. (a) (b)(i) (ii) V-25

(iii) (c) 11135 (a) (b) (c) (d) 2. 3. V-26

4. 38,000 5. 6. 6 7. 8. Appleby Trust (Cayman) Ltd. V-27

9. (a) (b) (c) (i) (ii) (d) (e) (f) (g) (h) V-28

(i) (j) (k) (l) 10. 44A 44B 11. 32L 4 12. SXD Limited 1767996 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, BVI 15,000,000 V-29

14 321 Pang & Co (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) VI-1