Infinity Global Corporation Limited (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) GEM
[ ] Infinity Global Corporation Limited [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 1% 0.0027% 0.005% 0.01 [ ] [ ] [ ] [ ] [ ] 32 342C [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] www.hkexnews.hk www.infinitycargo.com [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]
G E M GEM GEM GEM GEM GEM www.hkexnews.hk GEM i
[ ] ii
[ ] iii
[ ] iv
[ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [][] [][] [ ] www.infinitycargo.com [ ] GEM.................................................................................................................................................................................................. i ii v..................................................................... 1..................................................................... 11................................................................. 22............................................................... 24 [ ] [ ].............................................. 26................................................................. 30 [ ].................................................. 51................................................................. 54................................................................. 56................................................................. 66 v
.................................................... 78..................................................................... 86........................................................ 123........................................................ 130...................................................... 139..................................................................... 140................................................................. 143.................................................. 180..................................................................... 188 [ ]...................................................... 198 [ ]........................................................... 205................................................... I-1........................................ II-1..................................................... III-1....................... IV-1............................................... V-1................................ VI-1 vi
s [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 18 72 % % % % 328,460 73.2 493,871 76.3 117,364 73.6 119,490 67.9 120,450 26.8 152,912 23.6 42,090 26.4 55,945 31.8 583 0.1 493 0.3 448,910 100.0 647,366 100.0 159,454 100.0 175,928 100.0 1
% % % % 437,797 97.5 636,904 98.5 155,787 97.7 171,338 97.7 11,113 2.5 9,879 1.5 3,667 2.3 4,097 2.3 448,910 100.0 646,783 100.0 159,454 100.0 175,435 100.0 % % % % 221,287 50.5 295,196 46.3 71,256 45.7 96,717 56.4 117,206 26.8 212,008 33.3 49,487 31.8 39,342 23.0 79,288 18.2 108,597 17.1 27,864 17.9 29,549 17.2 17,671 4.0 19,278 3.0 6,723 4.3 5,280 3.1 (1) 2,345 0.5 1,825 0.3 457 0.3 450 0.3 437,797 100.0 636,904 100.0 155,787 100.0 171,338 100.0 (1) 2
U % % % % 5,234 47.1 3,825 38.7 1,345 36.7 1,263 30.9 3,063 27.6 2,510 25.4 1,177 32.1 898 21.9 1,784 16.0 2,326 23.6 704 19.2 1,173 28.6 1,027 9.2 1,199 12.1 430 11.7 763 18.6 (1) 5 0.1 19 0.2 11 0.3 0.0 11,113 100.0 9,879 100.0 3,667 100.0 4,097 100.0 (1) CEPA CEPA 10 12 FIATAIATA WCAEGLNCATA CIFANAP PPL 3
(1) (2) 22.0% 26.8% 26.4% 8.5%11.8% 14.1% [ ] (i) (ii) 45.9%49.2% 45.2% 17.9% 24.6% 26.6% [ ] 4
[ ] [ ] 1.5 1.3 0.4 0.3%0.2% 0.2% [ ] 1,300 2,200 35,000 [ ] [ ] Intelligence Group [ ] [ ] [ ]% [ ] 5
[ ] [ ] 448,910 647,366 159,454 175,928 82,153 105,731 28,445 29,652 20,095 30,497 9,019 4,527 [ ] 18,030 20,959 20,971 130,959 169,790 123,332 614 835 919 122,100 138,636 85,972 8,859 31,154 37,360 26,275 51,278 57,412 [ ] 6
22,462 (1,139) 15,857 26,285 (673) (9,382) (3,578) 6,285 (17,041) 5,318 (6,773) (24,234) 4,748 (5,203) 5,506 8,336 (428) 334 505 15,443 19,763 19,763 14,894 19,763 14,894 25,269 23,735 [ ] 1.1 1.2 1.4 163.9% 97.5% 46.9% 88.7% 68.5% 5.5% 44.9 62.2 22.5 13.5% 16.0% 76.5% 59.5% 7
[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 8
[ ] [ ][ ][ ] [ ][ ][ ][ ] [ ] [ ] [ ] [ ] [ ] (i) [ ]% [ ] (ii) [ ]% [ ] (iii) [ ]% [ ] (iv) [ ]% [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] (i) [ ] [ ] (ii) [ ] [ ] [ ] [ ] [ ] 9
5.0 7.0 [ ] [10.0] [ ] (1) [ ] [ ] [ ] [ ] [ ] [ ] (2) [ ] [ ] (3) [ ] [ ] (1) [ ] (2) [ ] [ ] [ ] (3) [ ] [ ][ ] [ ] [ ] (4) [ ] [10] [ ][ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] 10
[ ] [ ] Advance Strategy Advance Strategy Holding Limited [ ] [ ] [ ] [ ] [ ] 11
[ ] CEPA [ ] 622 32 [ ][ ] GEM[ ] 12
GEM Intelligence Group GEM 15 [ ] 15. [ ] EGLN Elite Global Logistics Network 28 [ ] FIATA 40,000 13
GEM GEM GEM GEM [ ] [ ] [ ] IATA 14
GEM Infinity Group Global Infinity Group Global Limited Intelligence Group Intelligence Group Limited [ ] [ ] 3. 15
[ ] [ ] [ ] [ ] [ ] NAP Neutral Air Partner OFAC [ ] 16
[ ] [ ] PPL Pacific Power Logistics 120 [ ] 17
[ ] [ ] [ ] [ ] 3. 18
571 0.01 [ ] [ ] 14. [ ] Lego Corporate Finance Limited 6 19
[ ] [ ] WCA World Cargo Alliance 190 [ ] Yeuking Holding Yeuking Holding Limited % [ ] 1. GEM 2. 3. [ ] 20
* 21
[ ] [ ] (i) (ii) (iii) (i) (ii) (iii) 22
1,000 23
[ ] [ ] [ ] 24
[ ] GEM [ ] [ ] [ ] [ ] 25
[ ] [ ] [ ] 26
[ ] [ ] [ ] 27
[ ] [ ] [ ] 28
[ ] [ ] [ ] 29
[ ] 10 12 30 60 267.7 401.5 96.9 107.0 73.0%74.1% 74.0% 73.1% 30
31
50% 45.8%49.2% 45.2% [ ] 94.1 137.6 86.5 32
[ ] 417.8 615.8 148.6 165.6 95.5% 96.7%95.4% 96.6% IATA (i) (ii) 33
24.8 36.7 26.9 0.6 0.6 0.2 0.3 1.1 [ ] 34
(i) (ii) (iii) (iv) 30 26 13 [ ] 35
(i) (ii) [ ] (i) (ii) (iii) [ ] 1,000 10,000 36
[ ] 1.5 1.3 0.4 0.3%0.2%0.2% [ ] [ ] [ ] 37
[ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] (i) [ ] [ ] (ii) [ ] [ ] [ ] [ ] [ ] [ ] 8. 38
448.9 647.4 159.5 175.9 20.1 30.5 9.0 4.5 [ ] 39
(i) (ii) (iii) 340 25% 545 25% 40
1,300 2,200 35,000 [ ] 41
42
SARS (H1N1) (H5N1) MERS 43
1% 2% [ ] 44
[ ] [ ] 10% 20% 45
25% 5% 5% 46
[ ] [ ] 47
GEM (i) (ii) [ ] [ ] [ ] [ ] (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) 48
724 [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 49
[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 50
[ ] 80 37 30 169 Tung Tau Tsuen Ha Tsuen House C, Heather Villa 18 29 E 7 6 C 1 6 36 A 7 Bin Tong Park Singapore [ ] 51
[ ] [ ] 6 29 16 1601 [ ] [ ] [ ] [ ] 15 13 (510623) 6 25 99 53 88 1 11 [ ] 1 21 52
[ ] (518026) 1006 A 4 22 8 1 17 1706 139 22 [ ] [ ] 53
GEM P.O. Box 309, Ugland House Grand Cayman KY1-1104 Cayman Islands 8 2 25 2503 ACS, ACIS 5 19 1904 80 37 30 5 19 1904 54
[ ] [ ] [ ] [ ] 6 29 16 1601 83 21 1 www.infinitycargo.com [ ] 55
[ ][ ][ ] [ ] [ ] [ ] 400,000 3,500 3,528 0.2% 1.0% 3,688 56
400 350.0 364.4 300 200 342.7 327.1 0.2% 1.0% 352.8 354.9 357.7 361.6 366.3 368.8 100 0 7.0 4.1 4.6 2.9% 57
7 6 5 4 3 2 1 0 4.1 2.9% 5.3% 4.4 4.4 4.5 4.6 5.0 5.2 5.5 5.8 6.1 4.6 4.3 3.4 2.7 2.6... 1.7 1.1 22.4 20.8 1.8% 26.3 4.5% 40.2-1.8% 4.5% 30 25 22.4 22.2 20.1 19.8 20.8 22.1 23.4 24.9 25.6 26.3 20 15 10 5 0 25.2 24.6 20.8 20.5 20.4 40.2 33.7 697 692 0.2% 6.0% 505 553 2.3% 737 5.9% 200 150 100 120.2 50.5 122.6 51.5 109.8 46.1 116.4 48.9 124.5 55.3 131.9 58.6 2.3% 5.9% -0.2% 6.0% 139.8 62.0 148.3 65.8 157.2 69.7 166.5 73.7 50 69.7 71.1 63.7 67.5 69.2 73.3 77.8 82.5 87.5 92.8 0 58
24.6 27.8 1.9% 40% 35.7 5.1% 59
45 40 35 30 25 20 15 10 5 0 1.9% 5.1% 34.0 35.7 25.8 26.4 27.8 29.3 30.3 31.8 24.6 24.3 58.5% 8.2% 7.5% 6.9% 14.1% 4.9% 120 44.4 47.1 1.5% 75% 49.6 1.2% 1.5% 3.4% 0.01% 14.1% 7.8% 60 50 44.4 43.2 45.0 43.3 47.1 48.2 51.1 52.1 53.5 55.1 40 30 20 10 0 78.0% 1,089 1,207 2.6% 1,413 3.3% 60
180 160 140 120 100 80 60 40 20 0 108.9 19.4 89.5 117.2 20.9 96.3 117.0 22.7 94.3 116.3 24.3 92.0 120.7 25.3 95.4 124.2 26.0 98.2 6.9% 5.3% 1.6% 2.7% 2.6% 3.3% 128.6 27.5 101.1 132.8 28.9 103.9 137.1 30.4 106.7 141.3 31.9 109.4 3.0% 51.6 80 66.8 200 10 61
7.5 15.3 19.5% 1.9 7.2 39.5% 37.3 18.7% 22.6% 40 39.5% 22.6% 19.5% 18.7% 37.3 35 32.4 30 25 20 15 10 5 0 7.5 1.9 5.6 8.9 2.8 6.1 10.3 3.9 6.4 12.3 5.2 7.1 15.3 7.2 8.1 18.7 8.6 10.2 22.9 10.5 12.4 27.5 12.9 14.6 15.9 16.5 19.4 17.9 62
2.7 7.7 30.0% 75% 20.4 25 20 15 10 5 0 2.7 0.4 2.3 4.4 0.8 3.6 5.4 0.9 4.5 6.7 1.2 5.5 7.8 1.9 5.9 47.6% 23.4% 26.6% 21.2% 30.0% 21.7% 9.3 2.2 7.1 11.5 2.8 8.7 14.1 3.4 10.7 17.1 4.3 12.8 20.4 5.1 15.3 72 0.3% 0.8% =100 120 100 80 60 40 20 0 0.3% 0.9% 100.0 103.6 100.5 97.8 101.2 105.1 106.2 107.1 108.3 108.8 =100 180 160 140 120 100 80 60 40 20 0 0.8% 0.2% 100.0 103.8 102.8 96.6 103.2 103.5 103.7 103.9 104.1 104.3 63
80% (i) (i) 0.2 0.7 0.2 0.7 0.2 0.7 0.1 0.2 0.1 0.2 0.1 0.2 0.2 0.7 0.3 1.2 0.3 1.2 0.4 1.6 0.4 1.6 0.5 2.1 0.4 1.6 0.5 2.1 0.7 2.5 0.8 2.9 1,300 2,200 30,000 0.30% 35,000 64
0.20% 65
494 2000 3 (a) (b) (c) (d) 31 66
500 1A 18(1) (i) (ii) (iii) (iv) 462 (i) (ii) (iii) 3(2) 3(4) 506 67
4(1) 4(2) (i) (ii) 295 295C 1,400 10 6 6 25,000 4 48 4 5,000 384 384A 68
250,000 60 60E 18(1) 500,000 2,000,000 18A(1) (i) (ii) (iii) 500,000 2,000,000 35A(1) (i) (ii) (iii) (iv) (v) (vi) 500,000 500,000 2,000,000 4 14 69
5 14 59 6A (a) (b) (c) (d) (e) 6A 500,000 500,000 509 (a) (b) 70
(c) (d) (e) 200,000 200,000 200,000 500,000 CEPA CEPA CEPA (i) (ii) (iii) CEPA CEPA 282 40 112 14(1) 71
51C 310 5 485 7 7A (i) (ii) 608 34.5 (i) (ii) (iii) (iv) 57 350,000 72
73
74
0.05% 75
10,000 50,000 76
50% 26 14 77
[ ] CEPA FIATA IATA CEPA 78
380,000 38,000,000 0.01 Intelligence Group 69 20 10 Intelligence Group Yeuking Holding Advance Strategy Intelligence GroupYeuking Holding Advance Strategy 70%20% 10% Infinity Group Global 50,000 1.0 100 Infinity Group Global Infinity Group Global 79
100 100 100 Infinity Group Global Infinity Group Global 200,000 200,000 136,000 68% 112,500 22.5% 1,000,000 1,000,000 77.5% 22.5% 100,000 75,000 7.5% 25,000 2.5% 75,000 25,000 10% 1. 7.5% 2.5% 70%20% 10% 700,000 200,000 100,000 8. 80
CEPA 650,000 1,380,000 77.5% (1) 22.5% (2) 100% 100% (1) 100,000 75,000 7.5% (2) 100,000 25,000 2.5% 81
[ ] 1. 7.5% 2.5% 100,000 75,000 25,000 75,000 25,000 7.5% 2.5% 70%20% 10% 2. Advance Strategy Holding Advance Strategy Holding Advance Strategy 3. Intelligence Group Intelligence Group Intelligence Group 4. Yeuking Holding Yeuking Holding Yeuking Holding 5. [ ] Intelligence GroupYeuking Holding Advance Strategy 70%20% 10% 6. Infinity Group Global Infinity Group Global Infinity Group Global 82
7. Infinity Group Global 8. 700,000 200,000 100,000 100 Infinity Group Global 83
[ ] 100% Intelligence Group 70% 100% Yeuking Holding 20% 100% Advance Strategy 10% 100% Infinity Group Global 100% 100% 100% (1) [ ] 84
[ ] [ ] [ ] 100% 100% 100% Intelligence Group % Yeuking Holding % Advance Strategy % % 100% Infinity Group Global 100% 100% 100% (1) 85
18 % % % % 328,460 73.2 493,871 76.3 117,364 73.6 119,490 67.9 120,450 26.8 152,912 23.6 42,090 26.4 55,945 31.8 583 0.1 493 0.3 448,910 100.0 647,366 100.0 159,454 100.0 175,928 100.0 CEPA CEPA 86
18 10 12 FIATAIATA WCAEGLNCATA CIFANAP PPL 18 810 11 10 12 87
400 72 (i) (ii) (iii) 37.3 18.5% 19.4 22.6% 5,500 88
CEPA CEPA 1,242 1,413 3.3% 3026 13 [ ] 89
5,000 (i) (ii) X [ ] [ ] (i) (ii) (iii) [ ] (i) (ii) 15 [ ] [ ] [ ]% (i) (ii) (iii) X 90
(iv) (v) [ ] [ ][ ] [ ]% (i) (ii) [ ] [ ] [ ] [ ]% (i) (ii) [ ] 91
(1) (2) % % % % 328,460 73.2 493,871 76.3 117,364 73.6 119,490 67.9 120,450 26.8 152,912 23.6 42,090 26.4 55,945 31.8 583 0.1 493 0.3 448,910 100.0 647,366 100.0 159,454 100.0 175,928 100.0 92
73.2%76.3%73.6% 67.9% 26.8% 23.6%26.4%31.8% [ ] % % % % 437,797 97.5 636,904 98.5 155,787 97.7 171,338 97.7 11,113 2.5 9,879 1.5 3,667 2.3 4,097 2.3 448,910 100.0 646,783 100.0 159,454 100.0 175,435 100.0 97.5%98.5%97.7%97.7% 2.5% 1.5%2.3% 2.3% [ ] % % % % 221,287 50.5 295,196 46.3 71,256 45.7 96,717 56.4 117,206 26.8 212,008 33.3 49,487 31.8 39,342 23.0 79,288 18.2 108,597 17.1 27,864 17.9 29,549 17.2 17,671 4.0 19,278 3.0 6,723 4.3 5,280 3.1 (1) 2,345 0.5 1,825 0.3 457 0.3 450 0.3 437,797 100.0 636,904 100.0 155,787 100.0 171,338 100.0 (1) 93
95.5%96.7%95.4% 96.6% [ ] % % % % 5,234 47.1 3,825 38.7 1,345 36.7 1,263 30.9 3,063 27.6 2,510 25.4 1,177 32.1 898 21.9 1,784 16.0 2,326 23.6 704 19.2 1,173 28.6 1,027 9.2 1,199 12.1 430 11.7 763 18.6 (1) 5 0.1 19 0.2 11 0.3 0.0 11,113 100.0 9,879 100.0 3,667 100.0 4,097 100.0 (1) 90.7%87.7%88.0% 81.4% [ ] (i) (ii) 94
328.5 493.9 117.4 119.5 73.2%76.3% 73.6% 67.9% 15,43924,1566,2165,223 72 810 11 10 [ ] 30 12 30 60 95
4,405 6,693 2,783 10,008 22,107 4,823 (i) IATA 5% 30 (ii) 96
120.5 152.9 42.1 55.9 26.8%23.6%26.4% 31.8% 24,690 24,631 8,208 7,776 97
20 40 11.111.7 8.3 3.0 1.8 2.0 98
99
100
11 EGLN PPL NAP (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) 101
% % % % (1) 355,869 79.3 546,136 84.4 130,542 81.9 146,280 83.1 (2) 91,461 20.4 98,581 15.2 28,369 17.8 28,636 16.3 (3) 1,580 0.3 2,649 0.4 543 0.3 1,012 0.6 448,910 100.0 647,366 100.0 159,454 100.0 175,928 100.0 (1) (i) (ii) (2) (3) 102
22.0%26.8% 26.4% 8.5%11.8% 14.1% 2 14 (%) 1. A 38,100 8.5 2011 2. B 22,471 5.0 2004 3. C 14,426 3.2 2011 4. D 12,998 2.9 2015 5. E 10,564 2.4 2007 103
(%) 1. A 76,345 11.8 2011 2. F 29,366 4.5 2016 3. D 28,037 4.3 2015 4. B 23,438 3.6 2004 5. G 16,260 2.5 2010 (%) 1. A 24,790 14.1 2011 2. B 9,285 5.3 2004 3. D 5,451 3.1 2015 4. E 3,526 2.0 2007 5. H 3,410 1.9 2014 104
(i) (ii) 5% G G G 3.316.3 2.8 0.7%2.5% 1.6% G 0.3 1.3 0.2 0.1%0.2% 0.2% 50 50 30 30 30 (i) (ii) (iii) 94.1 137.6 86.5 98.4% 105
F F F 12 532,506.66 4.2 F 177,500 1.4 F 1.5 1.3 0.4 0.3%0.2%0.2% (a) (b) (c) [ ] (d) (i) 106
(ii) [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 107
[ ] [ ] [ ] 108
(i) (ii) 450 [ ] 45.9%49.2% 45.2% 17.9%24.6% 26.6% 109
1 13 15 60 (%) 1. A 65,768 17.9 2010 2. B 52,536 14.3 2004 3. C 24,877 6.8 2011 4. D 13,693 3.7 2013 5. E 11,385 3.1 2015 (%) 1. A 133,043 24.6 2010 2. B 76,065 14.0 2004 3. C 22,598 4.2 2011 4. D 18,171 3.4 2013 5. F 16,365 3.0 2013 110
(%) 1. A 38,904 26.6 2010 2. G 7,875 5.4 2016 3. F 6,694 4.6 2013 4. H 6,486 4.4 2010 5. C 6,131 4.2 2011 (i) (ii) 5% B B B 52.5 76.1 4.7 14.3%14.0% 3.2% B 40,000 1.3 8,000 0.01%0.2% 0.01% (i) (ii) 25.5 33.3 8.5 6.9%6.2% 5.8% 111
30 12 (i) (ii) (i) (ii) 112
1,300 2,200 35,000 [ ] Virgin Atlantic Cargo Polar Air Cargo Air New Zealand Cargo Top Performer Virgin Atlantic Cargo Most Active Sales Award Global Logistics Network Rising Star Award 113
Neutral Air Partner Elite Global Logistics Network Pacific Power Logistics World Cargo Alliance 190 3 3 4 7 11 26 29 55 3 59 62 2 10 12 6 24 30 7 10 17 51 139 190 35.2 43.6 11.7 14.4 114
[ ] 8. 1. 4 804 121.2 2. 4 805 300.0 105,287.5 6% 115
0.6 0.5 0.1% 0.3% [ ] 12 1. 8 2 25 2503 5,318 116,996.0 2. 168 21,548 98 334,768.0 2 1 Nina Tower Property (i) Nina Tower Property (ii) 116
10 1. 575 SOHO 18 1801 1802 1 881.8 153,146.8 2. 3800 32 1101 2 254.0 22,500.0 3. A 15 1503 3 (1) 385.5 61,680.0 65,380.8 4. 193 9 917 67.6 6,454.0 (2) 5. 193 918 920 5 116.9 12,000.0 6. 018 H 6 110.8 3.0 7. 775 3 11 1107 7 172.2 10,333.8 8. 97 D 3 01 8 178.0 14,595.0 9. 36 10 1006 9 160.6 16,250.0 10. 2 2 B010 10 (3) 17,500.0 117
(1) 3 (2) (3) 3 (i) 3 (ii) 3 (iii) 3 (iv) (v) 2 2 2 (i) 2 (ii) (iii) 1 2 5 6 7 8 9 10 118
1,000 10,000 [ ] 0.3 0.3 0.2 [ ] CEPA (1) 119
(1) [ ] 120
300,000 [ ] GEM (i) (ii) 121
[ ] (iii) [ ] GEM (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) GEM 122
[ ] Intelligence Group [ ] [ ] [ ]% [ ] GEM 11.04 (a) (b) (c) 123
(d) (e) (a) (b) (c) (d) (e) (f) 124
[ ] [ ] [ ] (a) [ ] (b) GEM (a) (i) (ii) (b) GEM 125
(a) (i) (ii) (b) (i) (ii) (a) 20 (iii) (b)(ii) 20 (iv) 126
(a) (b) (i) 10% (ii) 5% (i) [ ] (ii) (iii) 30% [ ] 30% 30% GEM (a) [ ] GEM GEM 127
(b) (c) GEM (d) (e) (f) (g) (h) (i) (j) 128
129
52 44 47 51 49 40 130
41 53 58 52 30 Van Ommeren Air (HK) Limited 44 Infinity Group Global 131
26 47 Infinity Group Global 13 Cable & Wireless HKT Limited Fujitsu Australia Limited 51 24 868 132
866 935 8135 SDM Group Holdings Limited 8363 1620 49 18 2898 40 133
18 Deloitte &Touche Financial Advisory Services Pte Ltd. CFO (HK) Limited GEM 8245 Ernst & Young Solutions LLP True Fitness Holdings (Singapore) Pte Ltd. (i) [ ] (ii) (iii) [ ] [ ] 9. XV GEM 17.50(2)(h) (v) 41 15 134
685 5090 159 BCK 53 27 Cargolux Airlines International S.A. World Name Logistics (H.K.) Limited Geodis Overseas Limited Rhenus Logistics Asia-Pacific Limited IFB Air Service Limited University of Strathclyde 58 19 AFS International (HK) Limited AFS-VISA International (HK) Ltd JCCTA Logistics Services Ltd. 135
48 2340 404 GEM 8442 GEM 5.28 5.29 C.3.3 C.3.7 GEM 5.34 5.35 B.1.2 136
A.5.1 A.5.2 2.2 2.9 1.0 4.5 5.6 1.7 137
3.7 [ ] A.2.1 [ ] [ ] 14. GEM 6A.19 GEM 6A.23 (a) (b) (c) [ ] [ ] [ ] (d) GEM 17.11 [ ] [ ] GEM 18.03 138
[ ] [ ] [ ] XV 2 3 10% [ ] [ ] [ ] (1) (1) Intelligence Group (3) 70 (L) 70% [ ](L) [ ]% Yeuking Holding (4) 20 (L) 20% [ ](L) [ ]% Advance Strategy (5) 10 (L) 10% [ ](L) [ ]% (2) (3) 70 (L) 70% [ ](L) [ ]% (4) 20 (L) 20% [ ](L) [ ]% (2) (5) 10 (L) 10% [ ](L) [ ]% (1) L (2) (3) [ ] [ ] [ ] Intelligence Group [ ]% Intelligence Group Intelligence Group (4) [ ] [ ] [ ] Yeuking Holding [ ]% Yeuking Holding Yeuking Holding (5) [ ] [ ] [ ] Advance Strategy [ ]% Advance Strategy Advance Strategy 139
10,000,000,000 0.01 100,000,000.0 [ ] [ ] [ ] 100 [ ] 1.0 [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 100 [ ] 1.0 [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] (i) (ii) 140
GEM 11.23(7) [ ] GEM[ ] 25% [ ] [ ] 25% [ ] [ ] [ ] [ ] (i)(ii) (iii) (iv) (v) [ ] 2. 2.5 [ ] 2. 2.4 [ ] [ ] 3. [ ] [ ] 3. 141
[ ] 14. 142
[ ] [ ] [ ] [ ] [ ] 143
448.9 647.4 159.5 175.9 20.1 30.5 9.0 4.5 [ ] GEM 2.1 [ ] 144
7.2 38.5% 145
[ ] [ ] 24 448.9 646.8 159.5 175.4 [ ] 2.20 9 146
[ ] 2.4 (i) (ii) (iii) [ ] 2.8 147
6.3 3.2 2.9 [ ] 2.5 148
[ ] 448,910 647,366 159,454 175,928 (366,757) (541,635) (131,009) (146,276) 82,153 105,731 28,445 29,652 683 342 197 170 (387) 942 1,272 920 (57,001) (69,997) (19,043) (24,909) 25,448 37,018 10,871 5,833 437 69 4 7 (576) (596) (195) (260) (139) (527) (191) (253) 25,309 36,491 10,680 5,580 (5,214) (5,994) (1,661) (1,053) 20,095 30,497 9,019 4,527 149
448.9 647.4 159.5 175.9 % % % % 328,460 73.2 493,871 76.3 117,364 73.6 119,490 67.9 120,450 26.8 152,912 23.6 42,090 26.4 55,945 31.8 583 0.1 493 0.3 448,910 100.0 647,366 100.0 159,454 100.0 175,928 100.0 328.5 165.4 50.4% 493.9 (i) A 38.1 76.3 (ii) 117.4 2.1 1.8% 119.5 A 10.3 150
F 14,689 23,372 6,018 5,012 750 784 198 211 15,439 24,156 6,216 5,223 120.5 32.5 27.0% 152.9 4.9 1.3 26.5% 6.2 42.1 13.9 32.9% 55.9 2.1 41.2% 151
TEU TEU TEU TEU 24,203 24,159 8,094 7,609 487 472 114 167 24,690 24,631 8,208 7,776 % % % % 437,797 97.5 636,904 98.5 155,787 97.7 171,338 97.7 11,113 2.5 9,879 1.5 3,667 2.3 4,097 2.3 448,910 100.0 646,783 100.0 159,454 100.0 175,435 100.0 % % % % 221,287 50.5 295,196 46.3 71,256 45.7 96,717 56.4 117,206 26.8 212,008 33.3 49,487 31.8 39,342 23.0 79,288 18.2 108,597 17.1 27,864 17.9 29,549 17.2 17,671 4.0 19,278 3.0 6,723 4.3 5,280 3.1 (1) 2,345 0.5 1,825 0.3 457 0.3 450 0.3 437,797 100.0 636,904 100.0 155,787 100.0 171,338 100.0 (1) 152
% % % % 5,234 47.1 3,825 38.7 1,345 36.7 1,263 30.9 3,063 27.6 2,510 25.4 1,177 32.1 898 21.9 1,784 16.0 2,326 23.6 704 19.2 1,173 28.6 1,027 9.2 1,199 12.1 430 11.7 763 18.6 (1) 5 0.1 19 0.2 11 0.3 0.0 11,113 100.0 9,879 100.0 3,667 100.0 4,097 100.0 (1) 222.3 74.1 33.3% 296.4 A 71.7 25.8 36.0% 97.5 A 122.4 93.4 76.3% 215.8 A 50.8 10.2 20.1% 40.6 F 10.4 0.9 F 153
% % % % 355,869 79.3 546,136 84.4 130,542 81.9 146,280 83.1 91,461 20.4 98,581 15.2 28,369 17.8 28,636 16.3 (1) 1,580 0.3 2,649 0.4 543 0.3 1,012 0.6 448,910 100.0 647,366 100.0 159,454 100.0 175,928 100.0 (1) 79.3%84.4%81.9% 83.1% 355.9 190.3 53.5% 546.1 130.5 15.7 12.1% 146.3 91.5 7.1 7.8% 98.6 28.4 28.6 0.6 0.5 [ ] 17 154
% % % % (1) 267,705 73.0 401,548 74.1 96,883 74.0 106,988 73.1 (2) 49,152 13.4 54,474 10.0 15,989 12.2 15,952 10.9 (3) 24,413 6.7 52,245 9.6 10,755 8.2 14,822 10.1 (4) 18,075 4.9 25,470 4.7 5,807 4.4 6,518 4.5 7,412 2.0 7,849 1.5 1,575 1.2 1,954 1.3 49 0.1 42 0.1 366,757 100.0 541,635 100.0 131,009 100.0 146,276 100.0 (1) (2) (3) (4) 366.8 174.9 47.7% 541.6 (i) 267.7 50.0% 401.5 (ii) 131.0 15.3 11.7% 146.3 (i) (ii) 155
% % % % 278,536 75.9 423,101 78.1 99,661 76.1 103,263 70.6 88,221 24.1 118,485 21.8 31,348 23.9 42,971 29.3 49 0.1 42 0.1 366,757 100.0 541,635 100.0 131,009 100.0 146,276 100.0 278.5 144.6 51.9% 423.1 99.7 3.6 3.6% 103.3 88.2 30.3 34.3% 118.5 31.3 11.6 37.1% 43.0 156
82.2 105.7 28.4 29.7 18.3%16.3%17.8% 16.9% % % % % 49,924 15.2 70,770 14.3 17,704 15.1 16,227 13.6 32,229 26.8 34,427 22.5 10,741 25.5 12,974 23.2 534 91.6 451 91.5 82,153 18.3 105,731 16.3 28,445 17.8 29,652 16.9 82.2 23.6 28.7% 105.7 18.3% 16.3% 1.2 4.2% 29.7 17.8% 16.9% 49.9 20.8 41.8% 70.8 15.2% 14.3% A 17.7 1.5 8.3% 16.2 15.1% 157
13.6% 32.2 2.2 6.8% 34.4 26.8% 22.5% 10.7 2.2 20.8% 13.0 25.5% 23.2% 37.1% 32.9% 0.7 0.4 49.9% 0.3 0.2 158
(i) (ii) 0.4 0.9 1.3 0.9 57.0 70.0 19.0 24.9 % % % % 35,165 61.7 43,551 62.2 11,720 61.5 14,434 57.9 7,933 13.9 9,642 13.8 2,779 14.6 3,463 13.9 2,483 4.4 2,786 4.0 898 4.7 996 4.0 1,401 2.5 1,821 2.6 581 3.1 829 3.3 1,553 2.7 1,602 2.3 493 2.6 616 2.5 1,117 2.0 1,242 1.8 388 2.0 453 1.8 118 0.2 922 1.3 90 0.5 36 0.1 832 1.5 661 0.9 234 1.2 271 1.1 781 1.3 1,099 1.6 380 2.0 458 1.8 523 0.9 540 0.8 174 0.9 180 0.7 538 0.9 540 0.8 157 0.8 168 0.7 [ ] [ ] [ ] [ ] [ ] 4,557 8.0 5,141 7.3 1,149 6.1 1,162 4.8 57,001 100.0 69,997 100.0 19,043 100.0 24,909 100.0 (i) (ii) (iii) (iv) (v) (vi) (vii)[ ] 159
57.0 13.0 22.8% 70.0 (i) 8.4 23.9%(ii) 1.7 21.5% (a) (b) (iii) 0.8 6.8 (iv) [ ] [ ] 19.0 5.9 30.8% 24.9 (i) 2.7 23.2%(ii) 0.7 24.6%(iii) [ ][ ] 0.4 0.3 84.2% 0.1 0.6 0.6 0.2 0.3 0.2 0.3 16.5% 25.0% 5.2 6.0 20.6% 16.4% 1.7 1.1 15.6% 18.9% [ ] 160
20.1 10.4 51.8% 30.5 9.0 4.5 49.8% 4.5 [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] (i) [ ] [ ] (ii) [ ] [ ] [ ] [ ] [ ] [ ] 161
[ ] 22,462 (1,139) 15,857 26,285 (673) (9,382) (3,578) 6,285 (17,041) 5,318 (6,773) (24,234) 4,748 (5,203) 5,506 8,336 (428) 334 505 15,443 19,763 19,763 14,894 19,763 14,894 25,269 23,735 22.5 25.3 1.3 27.4 (i) 30.4 (ii) 0.6 1.1 (i) 42.8(ii) 0.6 162
(i) 36.5 (ii) 8.5 26.3 5.6 0.5 49.6 28.7 (i) (ii) (iii) 0.7 (i) 2.7 (ii) 0.9 (iii) 1.7 (i) 2.2 (ii) 2.2 9.4 (i) 6.1 (ii) 2.3 (iii) 2.7 1.5 6.3 (i) 6.0 (ii) 0.2 (i) (ii) (iii) 163
17.0 (i) 11.3 (ii) 3.0 (iii) 2.2 (iv) 1.2 5.3 11.9 2.2 3.8 5.0 24.2 (i) 9.8 (ii) 13.3 (iii) [ ] [ ] 36.5 37.9 [ ] [ ] [ ] [ ] [ ] 164
8.9 31.2 37.4 33.5 103,753 146,781 97,450 101,546 3,248 6,104 132 4,195 2,011 2,015 2,016 19,763 14,894 23,735 36,466 130,959 169,790 123,332 140,028 75,718 84,188 54,390 60,961 18,296 13,296 24,772 36,704 26,914 38,063 3,314 4,448 4,668 7,511 122,100 138,636 85,972 106,535 8,859 31,154 37,360 33,493 131.0 169.8 123.3 140.0 122.1 138.6 86.0 106.5 33.5 165
94,075 137,555 86,514 9,678 9,076 8,052 [ ] [ ] [ ] 103,753 146,781 97,450 94.1 43.5 46.2% 137.6 44.2% 137.6 51.0 37.1% 86.5 166
1 30 44,508 56,837 39,009 31 60 45,215 60,100 42,324 61 90 1,780 14,222 1,187 90 2,572 6,396 3,994 94,075 137,555 86,514 30 90 2.6 6.4 4.0 90 F 5.2 1.2 90 F F 4.2 F 1.4 F 64.5 65.3 76.4 366 365 120 167
64.5 65.3 76.4 F 135.7 83.3 98.7% 96.3% 9.7 9.1 8.1 1,794 2,572 2,663 2,915 2,572 2,725 3,040 1,881 2,027 1,506 1,536 378 423 515 259 9,678 9,076 8,052 9.7 0.6 6.2% 9.1 1.0 168
9.1 1.0 11.3% 8.1 4.2 2.0 2.0 2.2 71,371 75,443 48,284 3,047 5,696 3,573 1,300 3,049 2,533 75,718 84,188 54,390 71.4 4.1 5.7% 75.4 75.4 27.2 36.0% 48.3 169
1 30 14,420 24,817 16,889 31 60 55,339 47,838 29,683 61 90 926 1,341 891 90 686 1,447 821 71,371 75,443 48,284 15 60 70.8 74.9 47.8 99.2% 99.3% 98.9% 57.6 49.3 51.4 366 365 120 57.6 49.3 49.3 51.4 170
3.0 2.6 86.9% 5.7 (i) (ii) 5.7 2.1 37.3% 3.6 [ ] 1.3 1.7 134.5% 3.0 (i) [ ] [ ] (ii) 0.4 (iii) 0.3 3.0 2.5 0.2 20,772 30,031 17,303 28,986 4,000 4,000 8,000 8,000 2,673 1,611 1,076 24,772 36,704 26,914 38,062 24.8 36.7 26.9 25.5 34.9 45.5 (i) (ii) (iii) 171
(iv) (v) [ ] [ ] 14,387 10,304 3,909 2,992 18,296 13,296 [ ] (i) 28.9 (ii) 8.0 (iii) 1.1 37.9 (i) (ii) (iii) (iv) (v) 172
[ ] (i) 3.0 (ii) 15.0 10.0 [ ] [ ] 0.5 2.7 0.1 [ ] [ ] 173
[ ] 32 7,324 6,271 6,062 4,095 5,123 7,194 11,419 11,394 13,256 1,491 1,579 6,354 6,796 4,980 4,684 12,825 13,059 [ ] 12 [ ] 174
[ ] 30 1 1.1 1.2 1.4 2 163.9% 97.5% 46.9% 3 88.7% 68.5% 5.5% 4 44.9 62.2 22.5 5 13.5% 16.0% 6 76.5% 59.5% (1) (2) 100% (3) 100% 175
(4) (5) 100% (6) 100% 1.1 1.2 1.4 163.9% 97.5% 97.5% 46.9% 88.7% 68.5% 68.5% 5.5% (i) (ii) (iii) 44.9 62.2 62.2 22.5 [ ] 176
13.5% 16.0% 76.5% 59.5% 267.7 401.5 107.0 73.0%74.1% 73.2% 5%10% 15% 5% (13,385) (20,077) (5,349) 5% 13,385 20,077 5,349 10% (26,771) (40.155) (10,699) 10% 26,771 40,155 10,699 15% (40,156) (60,232) (16,048) 15% 40,156 60,232 16,048 177
9.5% 9.1% 5.2% [ ] 3 5.0 7.0 [ ] [10.0] 178
GEM GEM 17.15 17.21 GEM 7.31 [ ] [ ] [ ] [ ] [ ] 179
[ ] [ ] 180
[ ] [ ] [ ] [ ] [ ] [ ] 181
X [ ] [ ] [ ] [ ] [ ] [ ] 182
[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 183
[ ][ ][ ] [ ][ ][ ][ ] [ ] [ ] [ ] [ ] [ ] (i) [ ]% [ ] (ii) [ ]% [ ] (iii) [ ]% [ ] (iv) [ ]% [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 184
[ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] GEM [ ] [ ] [ ][ ] 185
[ ] [ ] [ ] (i) [ ] [ ] [ ] GEM [ ] (ii) [ ] [ ] [ ] [ ] (iii) [ ] [ ] [ ] [ ] [ ] 186
(iv) 38.1 0.6 0.6 0.3 [ ] 187
[ ] 188
[ ] 189
[ ] 190
[ ] 191
[ ] 192
[ ] 193
[ ] 194
[ ] 195
[ ] 196
[ ] [ ] [ ] [ ] GEM 6A.19 [ ] [ ] GEM 6A.07 197
[ ] [ ] 198
[ ] [ ] 199
[ ] [ ] 200
[ ] [ ] 201
[ ] [ ] 202
[ ] [ ] 203
[ ] [ ] 204
[ ] [ ] 205
[ ] [ ] 206
[ ] [ ] 207
[ ] [ ] 208
[ ] [ ] 209
[ ] [ ] 210
[ ] [ ] 211
[ ] [ ] 212
[ ] [ ] 213
[ ] [ ] 214
[ ] [ ] 215
[ ] [ ] 216
[ ] [ ] 217
[ ] [ ] 218
[ ] [ ] 219
[ ] [ ] 220
[ ] [ ] 221
I-1I-3 [ ] 200 [ ] [ ] I-4I-58 I-4 I-58 [[ ] ] GEM [ ] [ ][ ] 1.3 2.1 200 I-1
1.3 2.1 1.3 2.1 1.32.1 2410 1.3 2.1 I-2
GEM I-4 14 [ ] I-3
I (a) 6 448,910 647,366 159,454 175,928 10 (366,757) (541,635) (131,009) (146,276) 82,153 105,731 28,445 29,652 7 683 342 197 170 8 (387) 942 1,272 920 10 (57,001) (69,997) (19,043) (24,909) 25,448 37,018 10,871 5,833 9 437 69 4 7 9 (576) (596) (195) (260) (139) (527) (191) (253) 25,309 36,491 10,680 5,580 12 (5,214) (5,994) (1,661) (1,053) 20,095 30,497 9,019 4,527 13 I-4
(1,725) 1,136 641 1,568 16 370 45 39 (1,709) 1,506 686 1,607 18,386 32,003 9,705 6,134 I-5
(b) 15 6,298 3,247 2,870 16 7,917 8,052 8,453 17 4,517 4,743 19 1,289 192 20 2,272 2,226 21 2,526 2,679 2,679 18,030 20,959 20,971 22 103,753 146,781 97,450 23 3,248 6,104 132 26(b) 4,195 2,011 2,015 26(a) 19,763 14,894 23,735 130,959 169,790 123,332 148,989 190,749 144,303 28 1,000 1,000 1,000 29 25,275 50,278 56,412 26,275 51,278 57,412 I-6
27 614 835 919 24 75,718 84,188 54,390 23 18,296 13,296 25 24,772 36,704 26,914 3,314 4,448 4,668 122,100 138,636 85,972 122,714 139,471 86,891 148,989 190,749 144,303 I-7
(c) 1,000 1,356 2,869 (399) 8,063 12,889 20,095 20,095 16 16 (10) 10 (1,725) (1,725) (1,725) 6 20,105 18,386 14 (5,000) (5,000) 1,000 (369) 2,869 (393) 23,168 26,275 30,497 30,497 370 370 (11) 11 1,136 1,136 1,136 359 30,508 32,003 14 (7,000) (7,000) 1,000 767 2,869 (34) 46,676 51,278 I-8
1,000 767 2,869 (34) 46,676 51,278 4,527 4,527 39 39 (5) 5 1,568 1,568 1,568 34 4,532 6,134 14 1,000 2,335 2,869 51,208 57,412 1,000 (369) 2,869 (393) 23,168 26,275 9,019 9,019 45 45 641 641 641 45 9,019 9,705 14 1,000 272 2,869 (348) 32,187 35,980 I-9
(d) 33(a) 23,888 4,058 16,121 27,337 437 69 4 7 (576) (596) (195) (260) (1,287) (4,670) (73) (799) 22,462 (1,139) 15,857 26,285 (493) (2,661) (76) 123 (909) (2,250) (2,250) 580 (2,688) (6,058) (1,355) 5,972 2,200 1,467 231 2,185 (1,740) 192 120 27 35 I-10
(673) (9,382) (3,578) 6,285 110,642 153,662 45,783 48,075 (121,927) (141,730) (49,740) (57,865) (3,000) (5,000) (5,000) (13,296) (1,178) (3,798) (2,185) 2,184 2,184 (4) [ ] [ ] 607 (17,041) 5,318 (6,773) (24,234) 4,748 (5,203) 5,506 8,336 (428) 334 505 15,443 19,763 19,763 14,894 19,763 14,894 25,269 23,735 I-11
II 1 1.1 22 P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands [ ] Intelligence Group Limited Lee Yat Hin 1.2 GEM[ ] Advance Strategy Holding Limited Advance Strategy Holding Limited 1 Advance Strategy Holding Limited 100% Intelligence Group Limited Intelligence Group Limited 1 Intelligence Group Limited 100% Yeuking Holding Limited Yeuking Holding Limited 1Yeuking Holding Limited100% 380,000 38,000,000 0.01 Intelligence Group Limited69 Intelligence Group Limited20 Yeuking Holding Limited 10 Advance Strategy Holding LimitedIntelligence Group Limited 70 Yeuking Holding Limited 20 Advance Strategy Holding Limited 10 70%20% 10% Infinity Group Global Limited Infinity Group Global Limited 100 Infinity Group Global Limited 100% Infinity Global Logistics Limited Infinity Group Global Limited Infinity Global Logistics Limited 100 Infinity Global Logistics Limited 100% Infinity Group Global Limited I-12
Infinity Global Logistics Limited Infinity Global Logistics Limited Infinity Cargo Express LimitedICEL 700,000 200,000 100,000 Infinity Global Logistics Limited 1,000,000 ICEL ICEL 70%20% 10%Infinity Global Logistics Limited ICEL ICEL 1,000,000 ICEL Infinity Group Global Limited 100 100% Infinity Global Logistics Limited 100 100% Infinity Cargo Express Limited ICEL 1,000,000 100% 100% 100% 100% a a Infinity Cargo Logistics (China) Limited ICLCL 1,380,000 100% 100% 100% 100% b b (a) (b) 1.3 [ ] ICEL ICLCL [ ] ICEL [ ] [ ] ICEL [ ] ICEL ICEL [ ] I-13
2. 2.1 4 9 16 17 23 19 28 10 28 16 16 16 2.21 32 16 I-14
7,324 6,271 6,062 4,095 5,123 7,194 11,419 11,394 13,256 15.3% 16 2.2 (i) I-15
(ii) 2.3 2.4 (a) I-16
(b) (c) (i) (ii) (iii) (d) 2.5 I-17
45 5 3 3 2.7 2.6 2.7 2.8 (a) 18 I-18
(b) I-19
(c) 9 12 (d) (i) (ii) (iii) 2.9 (a) 12 I-20
18 (b) 2.10 2.11 2.12 2.13 2.14 2.15 I-21
12 2.16 2.17 (a) (b) (c) I-22
2.18 (a) (b) (c) 2.19 2.20 I-23
2.21 I-24
2.22 2.23 (1) (i) (ii) (iii) (2) (i) (ii) (iii) (iv) (v) (vi) (1) (vii) (1)(i) 2.24 I-25
3 3.1 (a) 5% 21,000 90,000 120,000 (b) I-26
(i) 9 94,075,000 137,555,000 86,514,000 94,075,000 137,555,000 86,514,000 (ii) 8,171 7,540 7,674 3,248 6,104 132 11,419 13,644 7,806 I-27
(c) 10% 227,000 223,000 10% 129,000 19,000 (d) 72,510 72,510 72,510 18,296 18,296 18,296 24,772 24,772 24,846 115,578 115,578 115,652 78,255 78,255 78,255 13,296 13,296 13,296 36,704 36,704 36,986 128,255 128,255 128,537 50,704 50,704 50,704 26,914 26,914 27,116 77,618 77,618 77,820 I-28
(e) 25 (f) +1% 1% 1% (207) (306) (225) 1% 207 306 225 3.2 1 1 2 3 1 2 3 1,289 1,289 I-29
1 2 3 192 192 2,272 2,272 2,464 2,464 1 2 3 2,226 2,226 1 2 3 3.3 24,772 36,704 26,914 18,296 13,296 (19,763) (14,894) (23,735) (4,195) (2,011) (2,015) 19,110 33,095 1,164 26,275 51,278 57,412 45,385 84,373 58,576 42% 39% 2% I-30
4 (a) 9 (b) (c) I-31
5 8,515 319,945 2,598 117,852 448,910 2,649 31,978 407 22,332 57,366 1,120 (387) (32,214) (576) 25,309 (5,214) 20,095 6,970 486,901 2,909 150,003 583 647,366 2,717 50,241 347 22,077 534 75,916 411 942 (40,182) (596) 36,491 (5,994) 30,497 I-32
2,771 114,593 896 41,194 159,454 955 11,459 81 7,141 19,636 201 1,272 (10,234) (195) 10,680 (1,661) 9,019 2,853 116,637 1,244 54,701 493 175,928 580 9,801 215 8,691 451 19,738 177 920 (14,995) (260) 5,580 (1,053) 4,527 I-33
222,314 296,395 71,686 97,480 122,440 215,833 50,832 40,605 81,072 110,923 28,568 30,722 20,734 22,371 7,900 6,671 2,350 1,844 468 450 448,910 647,366 159,454 175,928 1,544 1,394 1,052 12,671 14,422 15,014 14,215 15,816 16,066 10% A 76,345 24,790 10% I-34
6 328,460 493,871 117,364 119,490 120,450 152,912 42,090 55,945 583 493 448,910 647,366 159,454 175,928 448,910 647,366 159,454 175,928 7 192 120 27 35 491 222 170 135 683 342 197 170 8 104 7 7 (58) (58) (394) 782 1,330 874 21 153 (387) 942 1,272 920 I-35
9 437 69 4 7 (576) (596) (195) (260) (139) (527) (191) (253) 576 596 195 260 10. 267,705 401,548 96,883 106,988 49,152 54,474 15,989 15,952 24,413 52,245 10,755 14,822 18,075 25,470 5,807 6,518 7,412 7,849 1,575 1,954 523 540 174 180 1,338 1,393 424 541 49 42 215 209 69 75 7,535 9,225 2,643 3,309 97 102 33 38 11 35,165 43,551 11,720 14,434 [ ] [ ] [ ] 12,128 14,527 3,980 4,489 423,758 611,632 150,052 171,185 11 29,803 37,362 9,714 11,668 4,342 4,575 1,341 1,658 1,020 1,614 665 1,108 35,165 43,551 11,720 14,434 I-36
(a) 333 3 (b) 222 2 2,230 2,626 653 730 36 36 12 12 2,266 2,662 665 742 1 1,000,000 1 1 2 2 1,000,001 1,500,000 1 1 2 2 2 2 (b) 702 18 720 702 18 720 751 15 766 2,155 51 2,206 I-37
962 18 980 962 18 980 940 18 958 2,864 54 2,918 242 6 248 242 6 248 282 6 288 766 18 784 I-38
320 6 326 320 6 326 292 6 298 932 18 950 (b) 5% 1,500 8% 21% 35% (c) (d) (e) 23 I-39
(f) 12 16.5% 25% 3,528 5,598 1,334 1,019 1,589 206 296 97 190 31 34 5,214 5,994 1,661 1,053 25,309 36,491 10,680 5,580 16.5% 4,176 6,021 1,762 921 578 113 96 11 (117) (502) (251) (355) 744 679 48 568 (20) (30) (147) (287) 6 (92) 5,214 5,994 1,661 1,053 13 1.3 I-40
14 5,000 7,000 ICEL 5,000,000 32(d) ICEL 7,000,000 32(d) 15 5,620 2,502 2,451 3,187 13,760 (741) (2,308) (2,042) (1,184) (6,275) 4,879 194 409 2,003 7,485 4,879 194 409 2,003 7,485 210 283 493 (120) (159) (202) (857) (1,338) (318) (1) (21) (2) (342) 4,441 244 469 1,144 6,298 5,249 2,708 2,657 3,162 13,776 (808) (2,464) (2,188) (2,018) (7,478) 4,441 244 469 1,144 6,298 4,441 244 469 1,144 6,298 1,813 425 423 2,661 17 (4,451) (4,451) (68) (313) (201) (811) (1,393) 78 21 20 13 132 1,765 713 769 3,247 I-41
4,547 3,137 3,612 11,296 (2,782) (2,424) (2,843) (8,049) 1,765 713 769 3,247 1,765 713 769 3,247 76 76 (240) (84) (217) (541) (19) (19) 48 34 25 107 1,573 739 558 2,870 4,607 3,305 3,273 11,185 (3,034) (2,566) (2,715) (8,315) 1,573 739 558 2,870 16 10 50 7,917 8,052 8,453 I-42
17 4,451 (49) 115 4,517 4,567 (50) 4,517 4,517 (42) 268 4,743 4,839 (96) 4,743 583 493 49 42 4,484,000 4,751,500 I-43
18 1,289 1,289 102,246 102,246 3,248 3,248 4,195 4,195 19,763 19,763 129,452 1,289 130,741 72,510 18,296 24,772 115,578 192 192 2,272 2,272 145,095 145,095 6,104 6,104 2,011 2,011 14,894 14,894 168,104 192 2,272 170,568 I-44
78,255 13,296 36,704 128,255 2,226 2,226 94,188 94,188 132 132 2,015 2,015 23,735 23,735 120,070 2,226 122,296 50,704 26,914 77,618 19 1,289 192 I-45
20 2,272 2,226 ICEL 31 21 A 1,054 1,124 1,124 B 1,472 1,555 1,555 2,526 2,679 2,679 B A A 10 B 15 31 I-46
22 94,075 137,555 86,514 9,678 9,076 8,052 [ ] [ ] [ ] 103,753 146,781 97,450 30 1 30 44,508 56,837 39,009 31 60 45,215 60,100 42,324 61 90 1,780 14,222 1,187 90 2,572 6,396 3,994 94,075 137,555 86,514 50,887 55,342 39,684 41,928 48,451 43,840 10,938 42,988 13,905 21 103,753 146,781 97,450 I-47
23. 3,051 5,247 132 197 557 300 3,248 6,104 132 14,387 10,304 3,909 2,992 18,296 13,296 4,162 6,539 6,288 654 830 643 600 300 300 24. 71,371 75,443 48,284 3,047 5,696 3,573 1,300 3,049 2,533 75,718 84,188 54,390 I-48
1 30 [14,420] [24,817] [16,889] 31 60 [55,339] [47,838] [29,683] 61 90 926 1,341 891 90 [686] [1,447] [821] [71,371] [75,443] [48,284] 40,396 54,603 25,539 32,626 27,672 26,192 2,629 1,913 2,649 67 10 75,718 84,188 54,390 25. (a) [20,772] [30,031] [17,303] (b) [4,000] [4,000] [8,000] (c) [ ] [2,673] [1,611] [24,772] [36,704] [26,914] [24,772] [36,704] [26,914] I-49
2.22% 2.42% 2.97% 1.27% 1.50% 2.03% 2.75% 2.75% 25,494,000 34,933,000 43,643,000 (a) (i) 11,315,000 12,448,000 10,997,000 2 31 (ii) (iii) 3,527,000 8,600,000 6,306,000 1.75% 31 5,930,000 8,983,000 1.75% 31 (b) (i) 4,000,000 4,000,000 4,000,000 12 3 1 31 (ii) 4,000,000 1 31 (c) 2,673,000 1,611,000 2.25% 31 26. (a) 19,763 14,894 23,735 I-50
5,519 4,839 7,690 9,230 3,436 9,500 4,568 6,209 6,202 446 410 343 19,763 14,894 23,735 (b) 4,195,000 2,011,000 2,015,000 31 2,011 2,011 2,015 2,184 4,195 2,011 2,015 4,468,000 3,370,000 2,548,000 27. 16.5% 25% 614 835 919 I-51
557 557 97 97 (40) (40) 614 614 95 95 190 29 2 31 738 97 835 34 34 44 6 50 816 103 919 16,318,000 15,148,000 14,710,000 28. I-52
29. (399) 8,063 41 2,869 1,315 11,889 20,095 20,095 16 16 (10) 10 (1,725) (1,725) 14 (5,000) (5,000) (393) 23,168 41 2,869 (410) 25,275 30,497 30,497 370 370 (11) 11 1,136 1,136 14 (7,000) (7,000) (34) 46,676 41 2,869 726 50,278 4,527 4,527 39 39 (5) 5 1,568 1,568 14 51,208 41 2,869 2,294 56,412 (393) 23,168 41 2,869 (410) 25,275 9,019 9,019 45 45 641 641 (348) 32,187 41 2,869 231 34,980 I-53
30. 11 31. (a) (b) (c) ICEL 4,000,000 4,000,000 8,000,000 8,000,000 4,000,000 ICEL 6,000,000 4,000,000 4,000,000 6,000,000 8,000,000 16,923,000 17,700,000 17,700,000 (i) (ii) (iii) (iv) (v) ICEL Infinity Cargo Logistic Limited 22,000,000 24,000,000 26,000,000 26,000,000 2,184,000 ICEL 20; 2,000,000 2,000,0002,000,000 21 8,590,000 16,098,000 12,760,000 (d) 15,650,000 15,500,000 15,500,000 (i) (ii) (iii) 2,011,000 2,011,000 2,015,000 26(b); 15,650,000 15,650,000 15,500,000 15,650,000 15,650,000 15,650,000 13,215,000 14,348,000 12,897,000 I-54
(e) 14,656,000 34,689,000 34,689,000 (i) (ii) 5,930,000 9,983,000 1,000,000 (f) 4,000,000 4,000,000 4,000,000 (i) (ii) 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 (g) 6,963,000 7,725,000 7,743,000 32. (a) 7,324 6,271 6,062 4,095 5,123 7,194 11,419 11,394 13,256 (b) 1,491 1,579 6,354 6,796 4,980 4,684 12,825 13,059 I-55
33. (a) 25,309 36,491 10,680 5,580 (153) 1,338 1,393 424 541 215 209 69 75 49 42 (192) (120) (27) (35) (7) (7) 58 58 (104) (437) (69) (4) (7) 576 596 195 260 26,802 38,389 11,395 6,410 (30,355) (42,801) 43,165 49,581 27,441 8,470 (38,439) (28,654) 23,888 4,058 16,121 27,337 (b) 19 104 123 I-56
(c) 18,296 13,296 24,772 36,704 26,914 43,068 50,000 26,914 18,296 13,296 24,772 36,704 26,914 43,068 50,000 26,914 24,772 18,296 43,068 11,932 (5,000) 6,932 36,704 13,296 50,000 36,704 13,296 50,000 (9,790) (13,296) (23,086) 26,914 26,914 (d) 34. 3,822,000 3,202,000 35. 1.2 I-57
380,000 0.01 38,000,000 I-58
[ ] [ ][ ] A. GEM 7.31 [ ] [ ] [ ] [ ] 1 2 3 [ ] [ ] 57,412 [ ] [ ] [ ] [ ] [ ] 57,412 [ ] [ ] [ ] (1) [ ] 57,412,000 (2) [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] II-1
(3) [ ] [ ] (4) [ ] [10] [ ] [ ] [ ] [ ][ ] II-2
[ ] II-3
[ ] II-4
[ ] II-5
[ ] 139 22 (852) 2529 6878 (852) 2529 6806 info@romagroup.com http://www.romagroup.com GEM[ ] 1. 2. 3. III-1
4. 5. 6. GEM 8 III-2
7. BABusiness Admin in Act/Econ MSc (Real Est) MRICS Registered Valuer MAusIMM ACIPHE 19 10 III-3
4 8 804 805 52 421.15 105,287.50 26% 27,400,000 804 121.20 805 299.95 421.15 1. 3000665045 3000665218 421.15 2. 3. a. b. c. III-4
1. [ ] 2. 2.1 100,000,000.0 10,000,000,000 0.01 2.2 (a) IV-1
(b) (c) (d) (e) (f) IV-2
GEM (i) (ii) (iii) (iv) (A) (B) IV-3
(v) (g) (h) IV-4
(i) (ii) (iii) 12 (iv) (v) IV-5
(vi) (vii) (i) (j) 2.3 2.4 IV-6
2.5 (a) (b) (c) IV-7
2.6 2.7 GEM IV-8
GEM 2.8 15 2.9 IV-9
21 2.10 21 14 (a) (b) 95% 2.11 IV-10
(a) (b) (c) (d) (e) (f) GEM 10 6 30 60 IV-11
2.12 2.13 2.14 (a) IV-12
(b) 2.15 IV-13
12 48 48 12 2.16 14 IV-14
15% 14 15% 2.17 GEM 10 6 30 60 IV-15
GEM 2.18 2.4 2.19 2.20 IV-16
2.21 (a) 12 (b) (d) (c) 12 (d) 12 GEM 1. 2. IV-17
3. (a) (b) (c) 37 (d) (e) (f) IV-18
4. 34 34 3 5. Foss v. Harbottle (a) (b) (c) 6. IV-19
7. 8. (a) (b) (c) 9. 10. 11. IV-20
12. 13. (a) (b) (a) (b) 14. 75% IV-21
15. 90% 16. 17. (a) (b) 18. 19. 6 (a) (b) (i) IV-22
(ii) 6(3) 20. 21. Maples and Calder (Hong Kong) LLP [ ] IV-23
1. P.O.Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands 8 2 25 2503 16 [ ] 2. 380,000.0 38,000,000 0.01 [ ] (a) Intelligence Group (b) 69 20 10 Intelligence GroupYeuking Holding Advance Strategy (c) 9,962,000,000 380,000.0 38,000,000 100,000,000.0 10,000,000,000 [ ] [ ] [ ] [ ] [ ] 3. V-1
3. (a) (i) [ ] [ ] [ ] [ ] (ii)[ ] [ ] (iii)[ ] [ ] (iv)[ ][ ] (i) [ ] [ ] [ ] [ ] (ii) [ ] [ ] [ ] (iii) 9,962,000,000 380,000.0 100,000,000.0 (iv) [ ] [ ] [ ] (v) [ ] [ ] [ ] [ ] [ ] 20% [ ] V-2
(vi) GEM [ ] [ ] 10% [ ] (vii) (viii) (b) (c) [ ] 4. [ ] [ ] [ ] [ ] 5. [ ] 6. [ ] V-3
(a) [ ] [ ] 10% [ ] (b) GEM (c) (d) GEM V-4
[ ] [ ] (e) GEM 26 25% GEM V-5
7. [ ] (a) 75,000 25,000 7.5% 2.5% (b) 700,000 200,000 100,000 (c) (d) (e) [ ] 8. (a) 1. 35394042 300366264 V-6
2. 35394042 40201508417R 3. 3940 01763555 (b) infinitycargo.com V-7
9. (a) [ ] [ ] [ ] [ ] XV XV 7 8 352 GEM 5.46 5.67 (1) (2) (3) [ ] (L) [ ]% (4) [ ] (L) [ ]% (2) (5) [ ] (L) [ ]% (1) L (2) (3) [ ] [ ] [ ] Intelligence Group [ ]% Intelligence Group Intelligence Group (4) [ ] [ ] [ ] Yeuking Holding [ ]% Yeuking Holding Yeuking Holding (5) [ ] [ ] [ ] Advance Strategy [ ]% Advance Strategy Advance Strategy V-8
(b) [ ] [ ] [ ] XV 2 3 10% (1) Intelligence Group (3) [ ] (L) [ ]% Yeuking Holding (4) [ ] (L) [ ]% Advance Strategy (5) [ ] (L) [ ]% (2) (3) [ ] (L) [ ]% (4) [ ] (L) [ ]% (2) (5) [ ] (L) [ ]% (1) L (2) (3) [ ] [ ] [ ] Intelligence Group [ ]% Intelligence Group Intelligence Group (4) [ ] [ ] [ ] Yeuking Holding[ ]% Yeuking Holding Yeuking Holding (5) [ ] [ ] [ ] Advance Strategy[ ]% Advance Strategy Advance Strategy V-9
10. [ ] 11. 2.22.91.0 3.7 [ ] 2,040 1,320 960 180 180 180 V-10
12. 13. (a) [ ] [ ] (b) [ ] [ ] 14. (a) (i) (b) (ii) (b) (i) (ii) V-11
(iii) (c) (d) (i) (ii) (e) [ ] (f) [ ] (i) (ii) (iii) V-12
1.00 12 (i) 0.1% (ii) 5 GEM (g) (i) (ii) (iii) (1) (m) V-13
(h) (i) (ii) (iii) (1) 12 (2) (3) (4) (i)(vi) 30 (3) (4) (5) V-14
(6) 30 (7) (8) (9) GEM 10.18(3) V-15
(iv) (v) GEM (i) (i) (ii) (h)(iii)(1) (h)(iii)(7) (iii) (h)(iii)(8) (iv) (h)(iii)(9) V-16
(v) (vi) (1) (2) (3) 6 (4) (1)(2) (3) (5) (6) (vii) (h)(ii) (viii) (ix) V-17
(j) [ ] [ ] 10% 10.0% GEM GEM 30% 1% (j) (k) GEM 23 (k) (i) (d)(ii) V-18
(ii) (iii) (j) (l) (i) (ii) (iii) (iv) (l) (l) V-19
(m) (i) (ii) (iii) (iv) (m) (l) (n) GEM 23.03 GEM (o) [ ] (i) (ii) [ ] [ ] [ ] [ ] [ ] (iii) GEM[ ] V-20
(p) 15. Intelligence Group (a) [ ] (b) [ ] [ ] (c) [ ] (a) (b) [ ] V-21
(i) [ ] (ii) [ ] [ ] (c) [ ] [ ] (d) 0.2% 16. [ ] [ ] GEM 6A.07 V-22
17. [ ] GEM Frost & Sullivan Limited 6 18. [ ] 19. [ ] 20. [ ] 30 21. GEM 22. 3,930 V-23
23. [ ] [ ] 44A 44B 24. [ ] 32L 4 [ ] 24. (a) [ ] [ ] (i) (ii) (iii) [ ] (b) [ ] (c) (d) (e) (f) [ ] 12 V-24
[ ] (i)[ ] [ ] (ii) [ ] 18. (iii) [ ] 7. [ ] 14 15 13 (i) (ii) (iii) (iv) [ ] (v) [ ] (vi) [ ] (vii) [ ] 7. (viii) [ ] 10. (ix) [ ] 18. (x) (xi) (xii) VI-1
(xiii) (xiv) VI-2