2 3 4 10 15 17 27 32 34 36 38 39 40 41 108 1 2009

HKICPA, FCCA HKICPA, FCCA Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 255-257 31 02 33 18 22 827 www.koyochem.com 2

7,200,000 67,800,000 0.11 602,000,0008.0% BB159,000,00087,69619.7% 3.2% 3 2009

7,200,000 60,600,000 67,800,000 0.11 1.0602,000,000 655,000,000 8.0%422,000 397,0006.3% 4

95% 0.03 5 2009

40% IFA 1%(+1.6%)(+3%)-4.5% 5% 5% 50% 6

500,000 800,000 400,000450,000 3 10,000,00020,000,000 400,000450,000 30 400,000500,000450,000 800,000 7 2009

4.5China Petrochemical Corporation 10 Kellogg s ProcessCO 2 Stamicarbon s CO 2 Stripping Process 8

! 9 2009

BB 602,000,0008.0%7,200,000 67,800,0000.11 0.03 533,000,000 6.9% 23.9%11.5% 8.6%3.3% 22.7% 56,800,000 43,900,000 900,000 28 10

BB BB 159,000,000 19.7%26.4% 80,000,00050,000,00038.9% 29.6% 13.2% 8.2% 0.8%243,000,000 40.3% 18.2%9,000,0001.6% 483%14,000,0002.4% 47,000,000 7.9% 2009 100 11 2009

131,498,000 144,498,00083,325,000 100,263,000 24,094,000116,513,000 252,030,000128,141,000 119,405,00072,865,00027,750,000 2.1 26,900,000 33 144,498,00083,325,000 733,746,000 116% 68% 3.2 12

400,000 450,000 3.1 71,287,000 65,415,000 478,170,000 24,404,000 83,325,000 59,336,000 13 2009

1,944 2,0426 6 85 108 1,762 1,846 87 76 4 61,938 2,036 6 6 2.20 14

56 20 (Asia Brand Ceremony Organizing Committee) (Asia 10 Brand Innovative Personality Award) 2008 (World Economy Top 10 Outstanding Chinese Enterpreneurs) 51 54 46 15 57 15 2009

59 57 STI Certified Products Inc. Fairchild Semiconductor Corporation 67 58 39 16

BB 14 15 557,330,000 507,706,000 17 2009

108 6 18

87 3% 14 19 2009

2,100,000 2,100,000 0.150 2,100,000 2,000,000 2,000,000 0.150 2,000,000 21,000,000 21,000,000 0.124 21,000,000 19,000,000 19,000,000 0.124 19,000,000 21,000,000 21,000,000 0.124 21,000,000 2,000,000 2,000,000 0.124 2,000,000 2,000,000 2,000,000 0.124 2,000,000 2,100,000 2,100,000 0.150 2,100,000 57,000,000 57,000,000 0.124 57,000,000 47,000,000 5,000,000 42,000,000 0.150 42,000,000 30,000,000 30,000,000 0.116 30,000,000 205,200,000 5,000,000 200,200,000 122,000,000 48,200,000 30,000,000 20

XV (a)xv7 8 (b)352 (c) (i) 2,924,440,000 2,100,000 2,926,540,000 41.54% 366,464,000 2,000,000 368,464,000 5.23% 62,640,000 21,000,000 83,640,000 1.19% 31,320,000 19,000,000 50,320,000 0.71% 21,000,000 21,000,000 0.30% 2,000,000 2,000,000 0.03% 2,000,000 2,000,000 0.03% 2,100,000 2,100,000 0.03% (ii) 2,100,000 70% 420,000 14% 120,000 4% 60,000 2% 21 2009

(iii) 2,100,000 70% 420,000 14% 120,000 4% 60,000 2% XV2 3 336 10% (i) XV2 3 336 5% 0.02 650,000,000 9.23% 22

(ii) 500,000,000 7.10% 91 (iii) 300,000 10% (iv) 300,000 25% 23 2009

24

0.12 650,000,000 0.02 13,000,000 IFC0.1414.29% 10.17% 76,000,000 400,000450,000 IFC500,000,000 0.156 19% 41% 7.8% 12.4% 5% 35 27 31 25 2009

26

3.10(1) (2) 3.13 27 2009

12 12/12 100% 12/12 100% 12/12 100% 12/12 100% 12/12 100% 4/12 33% 4/12 33% 4/12 33% 28

1/1 100% 1/1 100% 1/1 100% 1/1 100% 1/1 100% 1/1 100% 29 2009

87 4/4 100% 4/4 100% 4/4 100% 30

31 2009

34 107 32

33 2009

5 90,128 42,284 6 1,069,949 759,835 7 332,613 331,547 8 8,900 8,900 19 2,586 2,071 1,504,176 1,144,637 10 100,263 98,258 11 134,490 78,200 6,117 4,205 12 83,325 59,336 13 144,498 44,902 468,693 284,901 1,972,869 1,429,538 14 136,082 124,642 15 775,721 727,765 911,803 852,407 34

16 331,575 104,070 17 41,029 18 7,404 5,534 19 80,867 80,867 460,875 190,471 20 220,020 173,059 21 252,030 171,000 16 128,141 42,601 600,191 386,660 1,061,066 577,131 1,972,869 1,429,538 (131,498) (101,759) 1,372,678 1,042,878 41 107 35 2009

9 760,030 703,332 11 39,652 39,656 13 200 167 39,852 39,823 799,882 743,155 14 136,082 124,642 15 557,330 507,706 693,412 632,348 16 76,070 17 41,029 41,029 76,070 41 107 36

20 300 2,136 16 65,141 32,601 65,441 34,737 106,470 110,807 799,882 743,155 (25,589) 5,086 734,441 708,418 41 107 37 2009

22 602,468 654,920 23 (532,951) (498,318) 69,517 156,602 23 (19,670) (18,106) 23 (43,892) (56,771) 26 (703) 2,199 5,252 83,924 27 (12,061) (16,207) (6,809) 67,717 28 (375) (7,060) 29 (7,184) 60,657 (7,184) 60,657 (7,184) 60,657 30 (0.0011) 0.0100 30 (0.0011) 0.0100 31 1,703 41 107 38

97,746 489,693 587,439 60,657 60,657 60,657 60,657 14 26,896 183,040 209,936 (5,625) (5,625) 124,642 727,765 852,407 124,642 727,765 852,407 (7,184) (7,184) (7,184) (7,184) 14 11,440 55,140 66,580 136,082 775,721 911,803 41 107 39 2009

32 (a) 17,005 147,383 (12,935) (18,225) (2,802) (10,992) 1,268 118,166 (49,619) (1,066) (448) (328,347) (327,246) 32 (b) 702 716 100 2,157 2,620 (376,173) (324,258) (23,989) (13,121) 66,580 209,936 726,980 213,601 (295,070) (172,998) (5,625) 474,501 231,793 99,596 25,701 44,902 19,201 13 144,498 44,902 41 107 40

1 Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands 255-25731 02 2 2.1 131,498,000 101,759,000 26,850,000 212,549,000 33(a) 110,000,000 80,000,000 88,300,000 41 2009

2 2.1 4 42

2 2.1 (a) 7 1 2 2 23 43 2009

2 2.1 (a) 88 14 (b) 17 5 17 27 27 44

2 2.1 (b) 3 3 38 338 5 5 1 115 125 5 45 2009

2 2.1 (b) 1 12 1 2 8 2 11 2 11 2.2 46

2 2.2 2.8 2.9 2.3 47 2009

2 2.4 (a) (b) (c) 48

2 2.5 35 1214 10 7 2.9 2.6 49 2009

2 2.7 2.8 2.9 50

2 2.10 (a) (b) (c) (d) 51 2009

2 2.11 2.12 2.13 52

2 2.14 2.15 2.16 2.17 2.18 53 2009

2 2.19 2.20 (a) 54

2 2.20 (b) 28.6% 20.6% 20.6% 1,000 (c) 55 2009

2 2.20 (d) 12 2.21 2.22 2.23 56

2 2.23 2.24 2.25 2.26 57 2009

3 3.1 (a) 5% 6,235,0004,618,000 5% 7,00017,000 58

3 3.1 (b) 20 782,000185,000 (c) 59 2009

3 3.1 (d) 17 220,020 128,141 252,030 70,000 204,218 57,357 7,043 8,667 48,383 12,599 173,059 42,601 171,000 104,070 7,410 5,296 60

3 3.1 (d) 300 65,141 1,911 2,136 32,601 76,070 5,363 4,818 131,498,000 101,759,000 61 2009

3 3.1 (d) 110,000,000 80,000,000 88,300,000 3.2 62

3 3.2 1,061,066 577,131 911,803 852,407 116% 68% 68%116% 3.3 7 1 1 2 3 63 2009

3 3.3 1 2 3 17 41,029 41,029 3 4 4.1 64

4 4.1 (a) (b) 4.2 (a) (1) (2) 2.10 (b) 2.8 8 65 2009

4 4.2 (c) (1) (2) (3) (d) 17 IFC (e) 5% 10% 2008 1 66

5 50,759 50,759 (8,475) (7,444) 42,284 43,315 42,284 43,315 49,619 (1,775) (1,031) 90,128 42,284 100,378 50,759 (10,250) (8,475) 90,128 42,284 7 49 8 48 29,016,000 30,705,000 48,875,00021) 1,031,000 1,031,000744,000 67 2009

6 74,453 159,859 6,223 16,260 262,139 518,934 (11,443) (47,281) (1,879) (7,630) (68,233) 63,010 112,578 4,344 8,630 262,139 450,701 63,010 112,578 4,344 8,630 262,139 450,701 20,119 1,340 (21,459) 16 1,404 2,627 505 324,535 329,087 (1,841) (1,841) 32 (1,346) (109) (92) (1,547) (465) (57) (522) (1,857) (12,596) (667) (923) (16,043) 61,169 117,853 6,195 9,403 565,215 759,835 74,468 176,384 8,655 17,635 565,215 842,357 (13,299) (58,531) (2,460) (8,232) (82,522) 61,169 117,853 6,195 9,403 565,215 759,835 68

6 61,169 117,853 6,195 9,403 565,215 759,835 1,368 686 (2,054) 270 1,899 2,059 785 324,737 329,750 (543) (42) (74) (659) 32 (102) (589) (228) (49) (968) (2,018) (13,925) (883) (1,183) (18,009) 60,687 105,381 7,101 8,882 887,898 1,069,949 75,992 177,319 10,278 18,280 887,898 1,169,767 (15,305) (71,938) (3,177) (9,398) (99,818) 60,687 105,381 7,101 8,882 887,898 1,069,949 15,440,000 14,328,0002,569,000 1,715,000 24,578,000 34,710,00021,099,000 24,404,000 21 17,693,000 457,071,000 16 21,834,000 7,614,000 5.64%6.18% 69 2009

7 326,090 5,009 331,099 448 448 326,090 5,457 331,547 326,090 5,457 331,547 1,066 1,066 326,090 6,523 332,613 30 70

8 8,900 8,900 30% 3% 16% 30 71 2009

9 332,113 332,113 i 5,510 5,510 ii 428,190 371,492 ii (5,783) (5,783) 760,030 703,332 (i) (ii) (BVI) BVI BVI 1001 100% BVIa BVI BVI 11 100% 3,000,000 100% b 100 1 27,000,000 100% 72

9 15,000,000 100% 350,000,000 100% b 2,100,000 100% 4,720,000 100% 1 5,000,000 100% 24,000,000 100% c (a) (b) 100%16 (c) 73 2009

10 49,429 76,788 315 259 50,519 21,211 100,263 98,258 318,518,000 296,272,000 274,000 274,000 607,000 11 29,120 12,552 (5,026) (5,176) 24,094 7,376 88,250 56,469 476 480 10,463 3,165 5,860 5,982 3,689 39,176 39,176 2,536 4,806 134,490 78,200 39,652 39,656 74

11 23,491 6,667 603 733 2 352 255 4,541 4,769 259 29,120 12,552 (5,026) (5,176) 24,094 7,376 603,000 587,000 603 587 75 2009

11 5,026,000 5,298,000 5,026,000 5,176,000 146 2 352 255 4,541 4,769 259 5,026 5,298 134,014 77,720 476 480 39,652 39,656 134,490 78,200 39,652 39,656 76

11 5,176 5,647 56 (150) (527) 5,026 5,176 23 12 83,325 59,336 1.98 5.40 3.333.78 77 2009

13 144,274 44,813 200 167 224 89 144,498 44,902 200 167 144,274 44,813 200 167 0.36%0.69% 143,460 44,002 562 2 476 900 198 167 144,498 44,902 200 167 78

14 0.02 10,000,000 10,000,000 200,000 200,000 0.02 6,394,400 4,894,400 124,642 97,746 (a) 650,000 1,500,000 11,440 26,896 7,044,400 6,394,400 136,082 124,642 10,000,000,000 10,000,000,0000.02 0.02 79 2009

14 (a) 0.145 500,000,0000.02 63,768,000 9,172,00054,596,000 15 0.170 1,000,000,0000.02 146,168,000 17,724,000128,444,000 15 0.120 IFC650,000,0000.02 66,580,000 11,440,00055,140,000 15 80

14 (b) (1) 30% 210,000,000 10% 21,000,000 (a)(b) (c) 81 2009

14 (b) (1) 0.12 0.15 0.15 0.12 2 18 2 7 2 1 6 10 10 10 10 i ii 122,000,000 48,500,000 6,200,000 30,000,000 206,700,000 (1,500,000) (1,500,000) 122,000,000 47,000,000 6,200,000 30,000,000 205,200,000 (5,000,000) (5,000,000) 122,000,000 42,000,000 6,200,000 30,000,000 200,200,000 82

14 (b) (1) (i) 21,000,000 21,000,000 19,000,000 2,000,000 2,000,000 65,000,000 57,000,000 122,000,000 (ii) 2,100,000 2,000,000 2,100,000 6,200,000 83 2009

14 (b) (2) 30% 10% (a) (b) (c) 84

15 a b b 289,457 (22,041) 5,510 15,325 1,131 200,311 489,693 14(a) 183,040 183,040 60,657 60,657 b 2,809 (2,809) 31 (5,625) (5,625) 472,497 (22,041) 5,510 18,134 1,131 252,534 727,765 472,497 (22,041) 5,510 18,134 1,131 252,534 727,765 14(a) 55,140 55,140 (7,184) (7,184) b 554 (554) 527,637 (22,041) 5,510 18,688 1,131 244,796 775,721 85 2009

15 c 289,457 37,162 5,510 2,964 335,093 14(a) 183,040 183,040 (4,802) (4,802) 31 (5,625) (5,625) 472,497 37,162 5,510 (7,463) 507,706 472,497 37,162 5,510 (7,463) 507,706 14(a) 55,140 55,140 29 (5,516) (5,516) 527,637 37,162 5,510 (12,979) 557,330 (a) 86

15 (b) 10% 50% (c) 37,162,000 87 2009

16 378,141 146,671 65,141 108,671 IFC 81,575 459,716 146,671 65,141 108,671 (a) 29,267,000 24,849,000 33,630,000314,498,000 100%9 5.63%6.31% 88

16 (b) IFC IFC IFC 20,000,000 4.5%IFC 17 17,000,000116,147,000 IFC IFC IFC 116,147 17 (37,835) 78,132 6,457 (3,194) IFC 81,575 IFC 13.09% IFC15,245,000 142,573,000 89 2009

16 1 128,141 42,601 65,141 32,601 1-2 70,000 104,070 76,070 2-3 83,162 3 178,413 459,716 146,671 65,141 108,671 (128,141) (42,601) (65,141) (32,601) 331,575 104,070 76,070 146,716 108,671 65,141 108,671 313,000 38,000 459,716 146,671 65,141 108,671 90

17 37,835 37,835 26 3,194 3,194 41,029 41,029 IFCIFC0.156 500,000,000IFC 0.0860.076 0.0930.082 0.138 0.156 80% 78% 1.66% 1.55% 91 2009

18. 6,008 26 (474) 5,534 5,534 2,610 26 (740) 7,404 2,610,000 19 12 2,505 2,071 12 81 2,586 2,071 12 (80,867) (80,867) 92

19 1,049 1,360 2,409 (225) (113) (338) 824 1,247 2,071 824 1,247 2,071 (70) (48) 633 515 754 1,199 633 2,586 93 2009

19 (80,867) 32,557,000 23,688,000 10% 5% 85,691,000 94

20 a 97,405 54,540 b 22,000 48,130 72,865 46,072 4,207 10,673 300 2,136 14,564 3,559 1,308 624 7,671 9,461 220,020 173,059 300 2,136 219,720 170,923 300 2,136 300 2,136 220,020 173,059 300 2,136 95 2009

20 (a) 95,033 52,509 2,262 1,988 110 43 97,405 54,540 (b) 22,000,000 48,130,000 12,900,000 24,487,000 21 5.056.37 5.578.96 41,158,000 10,000,00029,016,000 30,705,000545,677,000 59,114,0006 6 6 219,630 97,600 6 1 32,400 73,400 252,030 171,000 96

22 0% 17% 23 347,882 310,183 (29,364) (13,911) 163,037 150,792 24 51,277 61,533 19,040 17,074 12,646 10,856 3,279 4,586 1,499 3,551 2,175 2,687 1,599 2,122 1,716 1,727 1,818 1,511 32 266 831 10 274 11 (150) (471) 19,793 19,850 596,513 573,195 97 2009

24 42,166 52,197 4,975 4,537 4,102 4,288 34 511 51,277 61,533 25 (a) 528 235 18 781 141 306 13 460 141 235 13 389 141 235 15 391 141 370 11 522 70 70 70 70 70 70 1,302 1,381 70 2,753 98

25 (a) 528 276 176 18 998 141 360 132 13 646 141 276 132 13 562 141 276 132 15 564 141 370 132 11 654 70 18 88 70 18 88 70 18 88 1,302 1,558 758 70 3,688 99 2009

25 (b) 606 606 11 26 11 617 643 880,500 1,000,000 1 1 100

26 1,020 1,637 18 740 474 779 440 (422) 17 (3,194) (48) 70 (703) 2,199 27 28,312 25,839 IFC 6,457 6 (21,834) (7,614) 12,935 18,225 (2,157) (2,620) 1,283 602 12,061 16,207 101 2009

28 15%15% 50% 7.5% 7.5% 890 6,722 19 (515) 338 375 7,060 102

28 (6,809) 67,717 15%15% (1,021) 10,158 701 120 (a) (3,144) 1,330 1,842 (635) (1,916) 375 7,060 (a) 40% 29 5,516,000 4,802,000 103 2009

30 (a) 14 (7,184) 60,657 6,834,263 5,895,770 (0.0011) 0.0100 (b) (7,184) 60,657 6,834,263 5,895,770 9,410 6,834,263 5,905,180 (0.0011) 0.0100 104

31 0.0003 1,703 32 (a) (6,809) 67,717 18,009 16,043 1,031 1,031 23 266 831 (2,157) (2,620) 12,935 18,225 422 IFC 3,194 26,469 101,649 (2,005) (34,128) (56,290) (11,326) 46,961 91,662 1,870 (474) 17,005 147,383 105 2009

32 (b) 6 968 1,547 23 (266) (831) 702 716 33 (a) 26,850 212,549 (b) 1 2 748 1,341 106

34. 41.5%45.7% 58.5% (a) 893 1,653 25 35 88,300,000 110,000,00080,000,000 107 2009

602,468 654,920 774,919 610,587 627,616 (6,809) 67,717 44,923 33,324 53,200 (375) (7,060) (3,534) (4,728) (6,421) (7,184) 60,657 41,389 28,596 46,779 23 (7,184) 60,657 41,389 28,596 46,802 1,972,869 1,429,538 1,032,844 524,290 488,879 (1,061,066) (577,131) (445,405) (231,428) (285,952) 911,803 852,407 587,439 292,862 202,927 108