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Transcription:

Cookies Quartet Holdings Limited (a) (b) (c) (d) (e) (f) (g) (h) (i) 1933 (j) (k)

Cookies Quartet Holdings Limited [] [][] [][][] [] [] [] [] [][][] [] [] [][] [][] 1%0.0027% 0.005% 0.01 [] [] [] 32 342C [][][][][][][] [][][][] [][][][][][][] www.hkexnews.hkwww.cookiesquartet.com [][][][][][ ][][][ ]www.hkexnews.hkwww.cookiesquartet.com[ ][] [][][][][][] [] [] []S []

[] i

[] ii

[] iii

[][] [][ ] [][] [][][ ] [] [][][][][]... i... iv... 1... 11... 22... 23... 24 []... 46 []... 53... 56... 58 iv

... 72... 95... 101... 163... 173... 176... 189... 191... 194 []... 234... 245 []... 257 []... 271... I-1... II-1... III-1... IV-1... V-1 v

[] [] [] 20084 Ipsos2017 13.6% (i) (ii)(iii) (i) (ii) 2008 201833130 2016 94,500,00081,600,00080,700,000 1

4,500,000 () (i)(ii) 2

(i)(ii) 18,100,00014,300,000 14,700,00062.7%58.8%59.7% (i)(ii) 3

(i) (ii)(iii)[](iv) 4 Ipsos2017593,600,000 201320172.6%20182022 3.4% 7.1%2017 201816201710.1% Ipsos2017 66.6% 4

331 2016 2017 2018 94,499 81,628 80,674 65,570 57,385 56,102 27,725 34,188 29,919 22,390 29,472 24,686 331 2016 2017 2018 % % % 94,499 100.0 81,423 99.7 80,261 99.5 205 0.3 413 0.5 94,499 100.0 81,628 100.0 80,674 100.0 331 2016 2017 2018 % % % 59,692 63.2 51,081 62.6 51,277 63.6 31,633 33.5 27,097 33.2 25,813 32.0 3,174 3.3 3,450 4.2 3,584 4.4 94,499 100.0 81,628 100.0 80,674 100.0 331 2016 2017 2018 97,417 612.7 78,794 648.3 75,796 676.5 82,892 381.6 67,696 400.3 62,322 414.2 7,245 438.1 7,819 441.2 7,884 454.6 187,554 503.8 154,309 529.0 146,002 552.6 5

331 2016 2017 2018 % % % 41,753 69.9 36,430 71.3 36,434 71.1 22,349 70.7 19,273 71.1 17,954 69.6 1,468 46.3 1,682 48.8 1,714 47.8 65,570 69.4 57,385 70.3 56,102 69.5 331 2016 2017 2018 2,843 1,820 3,785 15,346 12,446 17,776 6,962 10,167 5,676 8,384 2,279 12,100 11,227 4,099 15,885 331 2016 2017 2018 16,600 35,116 22,371 (16) (137) (2,149) (19,268) (33,625) (16,644) (2,684) 1,354 3,578 9,602 6,918 8,272 6,918 8,272 11,850 6

331331 2016 2017 2018 29.3% 41.9% 37.1% 23.7% 36.1% 30.6% 2.2 1.2 3.1 1.7 1.0 2.6 123.1% 206.6% 114.5% 199.4% 719.0% 155.4% (a) (b) (c) (d) (e) (f) (g) (h) (i) (ii)(iii) [] ISO 22000[ ] [] 7

[][][][][] [][][][] [] [][][]% 350 [][][]% ISO 22000 [][][]% [][][]% [][][]% [][][]% 19,400,000 36,600,00012,900,000 3,900,000 8

2018331 [] [] [] CSTCST [][] [] CST[]% CST [][][][][][] [][][][] [][][][] [][][] []E.12.[] 9

20188 201811 [][][][ ][][][]2019 331[] [][] 2019331 20187 20187 201867 4,500,000 2018630 2017 20187 2018331(i) (ii) 2018331 2019331 10

[] [] [ ][ ][ ] 123 A.4. [ ][ ][ ] 11

2219613 622 32 201874 CST 12

Thrive Trade Limited2008424 Cookies Quartet BVI Cookies Quartet Group Limited2018 719 CST CST Group Holdings Limited2018522 [ ][ ][ ] E. 1. [ ][ ][ ] [] [] 13

[] [] [] [] [] [] [] [] [] 14

[] [] [] [] [] [] 16 [] [] [] [] 15

[] [] [] [] [] [] Ipsos IPSOS LimitedIPSOS Hong Kong LimitedIpsos Ipsos Ipsos 2018[823] 16

[] GEM 485 2018[ ] 17

[] [] [] [] [] [] [] [] [] [] 18

350 S S [] [] [] [] 571 0.01 [ ][ ][ ] D. 1. [] [] [] [] 19

[] [] 201620172018331 20162017 2018331 [] [] [] [] 1933 [] [] 20

358 [] [] % [ ] 21

ISO ISO 22000 ISO Ipsos 75 22

23

(i) (ii)(iii)[](iv) 4 4 4 24

(i)(ii) 70.0%70.2%66.5% 6,300,000 6,100,0007,100,0006.6%7.4%8.8% 25

201620172018331 11101314 1%6% 1,100,000700,000 800,00017.9%11.7%11.0% 26

9A 2011615 27

76.2%78.0%70.9% Ipsos 200812 28

100 29

76 171836Ipsos 11,600,00011,200,00011,500,000 12.3%13.7%14.2%201151 Ipsos 201310,200201712,0004.1% 201311,100201713,300 4.6% 2015512017430 32.520175134.5Ipsos 30

31

200,000 400,000 10,000 32

201633194,500,000 201733181,600,0002018331 80,700,000 33

(i)(ii) 201920203311,000,000 47,800,000 34

4,500,000 35

4 36

37

(POS) 38

19.1%15.8%18.2% 39

Ipsos20132017 183215.5%Ipsos 2017 66.6% [] 40

[] [] [][] [][][][] (i)(ii) [](iii)[] 41

[] [][] []% 19,400,00036,600,000 12,900,000 3,900,000 [] [] 42

[][][] [] [] [] [ ] (i) (ii) (iii)(iv)(v) (vi) [] [] 43

[] [][] [] [] [] [] 3. 44

[][ ][][][] 45

[ ] [] 46

[ ] [] 47

[ ] [] 48

[ ] [] 49

[ ] [] 50

[ ] [] 51

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B7 13 23 15E 11 G 100 36 1 [ ] 53

[ ] [] 178 2002 1 6 [] [] 8 39 Capital Chambers 77 18 Conyers Dill & Pearman Cricket Square Hutchins Drive PO Box 2681 Grand Cayman, KY1-1111 Cayman Islands 54

[ ] [] [] [] [] [] 88 135 Ipsos Limited 77 22 [ 178 2002] [1 6 ] [] 55

Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 9 2202 www.cookiesquartet.com (ACCA, CPA) 13 22-26 151513 [] 56

[] 1 57

Ipsos Ipsos[][][ ][][][] Ipsos20132022 482,000Ipsos 8816,000Ipsos Ipsos IpsosIpsos(a) Ipsos(b) (c) IpsosIpsos Ipsos Ipsos Ipsos IPSOS Ipsos 58

Ipsos(i)2013 2022(ii)20132022 (iii)20132017(iv) 20132017(v)20132017 (vi)20132017 (vii)20132017 (viii)20132017(ix) 20132017(x)20132017 (i)(ii)(iii) 20132017 59

20132017 20132017 70.0 60.0 50.0 40.0 54.3 13.6 60.8 59.3 13.6 13.5 56.7 58.5 13.9 14.0 2.2% 0.9% 1.9% 30.0 20.0 10.0 40.7 47.2 45.8 42.8 44.4 0.0 2013 2014 2015 2016 2017 Ipsos 201320171.9% 2014 201720142016 (i)(ii) (iii) 20162017201720182018 2019 20172018 60

2013201720182022 800 700 600 500 400 300 200 100 0 635.8 600.3 598.6 578.1 593.6 536.4 2013 2014 2015 2016 2017 2018 665.1 684.9 705.0 725.5 2019 2020 2021 2022 20132017 2.6% 20182022 3.4% Ipsos 2013536,400,0002017 593,600,0002.6% 20152016 201460,800,000201656,700,000 20182022635,800,000 725,500,0003.4% 20172016 20173.2%201816 201710.1% 201820177.9% 61

20132017(i)(ii) 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 13,300 12,200 12,600 11,100 11,600 10,200 10,500 11,000 11,500 12,000 2013 2014 2015 2016 2017 20132017 4.6% 4.1% 50 Ipsos 201310,200201712,000 4.1%11,100 13,3004.6% 2018 14,000201715 62

20132017 1,628 1,549 1,612 1,499 1,517 1,600 1,400 1,482 1,534 1,519 1,338 1,394 1,200 1,250 1,284 1,300 1,328 1,000 1,176 800 600 400 200 0 2013 2014 2015 2016 2017 20132017-0.5% -1.5% 3.1% Ipsos 20132017-0.5% -1.5%3.1% 20152016 2017 20132017 2013 2014 2015 2016 2017 2013 2017 1 37.7 43.5 38.4 37.3 49.2 6.9% 2 5.3 5.1 5.1 4.6 4.4 4.5% 3 4.9 4.5 4.3 4.2 4.3 3.2% 63

1. 2. 3. Ipsos 2013201737.7 49.26.9% 20135.34.4 4.5% 2012 2014 4.94.3 3.2%201320162011 20152017 2016 20173280 20182022 3.4% 66.6%2013 2017 20182022 201833180,700,000 201713.6% 64

(i) (ii)(iii) ISO 22000 65

2017 2017 2017 % 1 A 206.9 34.8% 2 80.7 4 13.6% 3 B 50.6 8.5% 4 C 35.9 6.0% 5 D 21.1 3.6% 198.4 33.4% 593.6 100% 1. 100% 2. 3. 20172017 (i)(ii) 4. 2018331 5. (i) (ii)(iii) Ipsos 66

2017 201758,500,0003.2% 20182022 2013 20174.1%4.6% 2014 20162017 67

20142016 68

2005 2013201720182022 892.1 914.0 938.5 966.1 991.2 1,017.6 1,044.6 1,070.4 1,096.1 1,123.0-200.0 400.0 600.0 800.0 1,000.0 1,200.0 20132017 2.7% 20182022 2.5% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Ipsos 69

2013892,100,0002017 991,200,0002.7%(i) (ii) 20132017 2.3% 20181,017,600,00020221,123,000,000 2.5% 2013201720182022 20,000.0 18,000.0 16,000.0 14,000.0 12,000.0 10,000.0 8,000.0 6,000.0 4,000.0 2,000.0 17,877.1 18,288.6 16,041.4 16,669.4 16,910.1 17,279.5 17,677.5 18,098.2 18,531.0 18,982.6 20132017 1.3% 20182022 2.4% - 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Ipsos 201316,041,400,000 201716,910,100,0001.3% 2017 201817,279,500,000 202218,982,600,0002.4% 70

2013201720182022 50,000.0 45,000.0 40,000.0 35,000.0 30,000.0 25,000.0 20,000.0 15,000.0 46,624.4 44,076.3 41,691.5 39,569.8 35,110.1 37,288.8 33,081.2 30,969.3 29,135.2 26,548.7 20132017 7.2% 20182022 5.7% 10,000.0 5,000.0-2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Ipsos 2013201726,548,700,000 35,110,100,0007.2% 20132017 201820225.7% 71

132 V 50 10,000 52 10,000 54 5450,000 61 6150,000 72

(1) 132X II (i) (ii) (iii) (iv) (v) 31(1) 73

3531(1) 50,000 900 (2) 132W 4A 43 (a) (b) (c) (d) (e) (f) 3 4B51 4A4B50,000 74

(3) 132H 3 1 5(3) 2 50,000 300 (4) 132U 3 3 50,000 (5) 132V 3 12 50,000 75

(6) 132AF 3 11 350,000 (7) 132AR4(i) (ii) (a) 1000.2(b) 50,000 (8) 132BD3 1 56 2 356 50,000 76

(9) 132CM 4 1 1 450,000 (10) 132AK4 450,000 59 62 5254 (a) 1215 77

(b) 12 1514 (c) 12 15 (d) (e) 12 612 5 550,000 IV 5(3)1 78

24 (a)(b) (c)(d) 72(i) 24(ii)(iii) 10,000 (i) (ii) 60 60H (i) 310(ii) (iii)(iv) (v) 500,000 79

362 2 7 500,000 100,000 112 2,000,0008.25%2,000,000 16.5% 80

52 5252 10,000 5 (i)(ii) (iii)(iv) 14(1) (i)(ii) 14(1)(a)400,0002(b) 20,000 123N 14 6 50,000 81

24 (i)(ii) 8(1)8(2)(i) (ii) 9(1)9(2) 10A 12(1)(b) 8(1)8(2)9(1)9(2) 82

118(1)8(2)9(1)9(2) (a)200,000(b) 400,000 10,000 400 13 (a) (b) (a) (c) 13(6) (a) 100,000(b)200,000 20,000 603 18A 3 502 83

18A 100,000200,000 28A 18A21 2,000 21 282 5 40 40 100,000100,000 57 84

25 7 25 350,00025A 25(2)(a) 25A 10,000 608 34.5 485 60186560 30,000 7,1005.0% 1,500 5.0%30,000 85

59 6A 6BA(5) 500,000 500,000 59Q (i) (a)(b)(c) (d)(e)(ii) (i)(a)(b)(c) (iii) 50,000 86

59AF 3250 32 (i) 41 8 (ii) 9 (iii) 12 200,000 509 87

200,000 200,000 200,000 500,00012 50,000 61920151214 88

2 (i) (ii) (iii) (iv) 82 67 21(3) 67 89

93 10.0% 3 (i) (ii) (iii) (iv) Customs ActR.S.C. 1985, c.1 CBSACFIA CBSA 1. (BN) 2. 3. 4. Special Import Measures Act 5. CBSA 90

CFIAGood Importing Practices Safe Food for Canadians Act (S.C. 2012, c. 24) Safe Food for Canadians Regulations (SOR/2018-108) 2019115 Food and Drugs Act (R.S.C 1985, c. F-27)27 (i)(ii) Food and Drug Regulations (CRC 2018, c 870) (R.S.C., 1985, c. C-38) 91

21417222141722 burmanni Blume loureirii NeesCassia Blume(a)(i) (ii)(iii) (b)1001.2 2019115 92

93

94

2008 20084 201874 2008 2011 2012 U 95

2013 2016 2018 201874 [380,000] 0.01 Cookies Quartet BVI 2018719 50,000 3,000 2008424 9 A.2. [] 96

Thrive Trading Limited2008424 1 200865 1 2009331 2009420 2009422 33.33% 33.33% 33.33% 33.33% 97

CST 2018522CST CST 50,0001.001,000 CST 33.33% 201874 380,00038,000,0000.01 CST CST Cookies Quartet BVI 2018719Cookies Quartet BVI 50,00050,0001.00 1,000Cookies Quartet BVI100% Cookies Quartet BVI Cookies Quartet BVI 2018827Cookies Quartet BVI 333 Cookies Quartet BVI 98

[] 33.33% 33.33% 33.33% CST 100% 100% Cookies Quartet BVI 100% [ ][4,962,000,000]380,000 38,000,0000.01[50,000,000][5,000,000,000] 0.01 [ ]CST[] [] CST[] [ ]A. 4.[ ] 99

[][] 33.33% 33.33% 33.33% CST % % 100% Cookies Quartet BVI 100% 100

20084 Ipsos2017 13.6% (i) (ii) (iii) (i) (ii) 200810 201833130 2008 2016 101

4,500,000 102

94,500,00081,600,000 80,700,000 331 2016 2017 2018 % % % 59,692 63.2 51,081 62.6 51,277 63.6 31,633 33.5 27,097 33.2 25,813 32.0 3,174 3.3 3,450 4.2 3,584 4.4 94,499 100.0 81,628 100.0 80,674 100.0 4 Ipsos2017 13.6% 103

(i)(ii) (iii) 10 15 40 15 200812 104

Ipsos2013536,400,000 2017593,600,0002.6%2018 20223.4% 2008 4 200810 30 105

Ipsos 2018 2022 106

Ipsos 20181,017,600,00020221,123,000,000 2.5% Ipsos 201817,279,500,000202218,982,600,000 2.4% (i)(ii)(iii) (iv) Ipsos 201837,288,800,0002022 46,624,400,0005.7% 107

Ipsos(i) (ii)(iii) Ipsos (a) ISO (b) 2016 108

Ipsos (i)(ii) [][]%[] 1,628702926 (i) 350 (ii) ISO 22000 2020 [][]%[] [][]%[] ISO 22000 109

ISO 22000 (i) 96.5%81.5%77.4% 147.2%111.7%105.4% (ii) (iii) ISOISO (iv) ISO 22000ISO 22000 ISO 22000 ISO 22000 110

Ipsos2017 13.6% 200812 Ipsos 201820223.4% 20182022 [][]% [] 20182019 (i) (ii) Ipsos 111

Ipsos [][]%[] 4 112

() (i)(ii) 2008102018331 30 (i)(ii) 11250500 80180 100 113

25080100 320520 100180 114

115

116

331 2016 2017 2018 68 168 72 178 72 188 68 208 72 218 72 228 228 298 228 298 228 338 5 238 8 288 8 313 (i)20% (ii)30% 5%10% 117

2016 331 2016 2017 2018 % % % 94,499 100.0 81,423 99.7 80,261 99.5 205 0.3 413 0.5 94,499 100.0 81,628 100.0 80,674 100.0 4,000 118

201620172018331 2011219 1 37.2 201221 2 27.9 2012929 44.6 V City 201381 32.2 201451 3 29.5 20171028 45.4 2017118 33.3 2017126 29.7 1. 20081220112 2. 2010720122 3. 2011920145 119

120

121

331 2016 2017 2018 2018 41 5 5 5 8 3 5 5 8 8 122

(a) (i) (ii) (iii) 123

(b) 14 (c) (d) (e) 124

201712 20192 2016 125

20% 4,500,000 A 201861 1,500 B 2018723 3,000 4,500 126

Ipsos 30% 45 1,500,0003,000,000 127

128

(i) 30(ii) (iii) 129

331 2016 2017 2018 (1) (1) (1) (%) (%) (%) (2) 66,309 97,634 147.2 64,339 71,843 119.7 65,652 69,228 105.4 (3) 131,304 93,075 70.9 133,274 89,205 66.9 131,961 83,761 63.5 197,613 190,708 96.5 197,613 161,048 81.5 197,613 152,989 77.4 1. 301 2. 101 100% 3. 29 130

96.5%81.5%77.4% 2018331 21 3.3 2018331 6 3.3 6.7 3 3.3 7.7 3 3.3 5.3 21 3.3 7.1 4 3.3 5.5 2 3.3 5.0 131

(i)(ii) 1.52.527.028.0 132

4 100 (i)(ii) (i)(ii) 133

2018331 30 134

2016331 2018 331 1 A 2 B 3 C 960 4 D 5 E 9 7 6,640 37.1% 9 30 2,958 16.5% 9 30 1,408 7.9% 9 30 908 5.1% 9 30 610 3.4% 12,524 70.0% 135

2017331 2018 331 1 A 2 B 3 C 960 4 E 5 F 9 7 4,956 36.4% 9 30 2,389 17.5% 9 30 1,128 8.3% 9 30 563 4.1% 9 30 534 3.9% 9,570 70.2% 136

2018331 2018 331 1 A 2 B 3 C 960 4 G 5 F 9 7 5,129 34.4% 9 30 2,240 15.0% 9 30 1,157 7.8% 4 699 4.7% 9 30 692 4.6% 9,917 66.5% 137

70.0%70.2%66.5% 20 []5% (i) (ii)(iii) (iv)(v) (vi) 138

25 139

30 24 140

141

142

143

400,000400,000 400,000 4,000 144

(i)(ii) 2012 145

146

(EPS) 50.2%49.3% 45.1%44.3%46.1%48.8% 45 (i) (ii) (iii)(iv) (v) 147

1.5%1.9% (EPS) 0.95% 360 200810 201833130 148

40 149

Ipsos2017593,600,000 201320172.6%20182022 3.4%2018 7.1%2017 201816201710.1% Ipsos2017 66.6% 14 2,071.6 8,300,0008,000,000 9,100,000 150

1. 9A 37.2 7.5 201829 202028 2. 10B E 3. 432 436 1 4. 321 2 5. 1 156 44.6 6.0 201841 20213 31 27.9 6.7 20161223 201812 22 29.7 0.9 2017103 202010 2 29.5 4.4 201781 20197 31 6% 1% 3% 201812 23 202012 22 151

6. 83V City MTR M-36 32.2 5.0 201881 20207 31 7. 8 2 258C 45.4 1.0 201791 20208 31 8. 223 2 279 33.3 0.9 2017915 20209 14 6%5% 9. 8 14F F-2 223.0 4.8 20171111 201911 10 10. 8 18E 330.5 7.0 201781 20197 31 201981 2021 731 152

11. 8 18F 371.9 7.0 201781 20197 31 201981 2021 731 12. 8 19E 330.5 5.7 2017121 201911 30 13. 8 19F 371.9 5.3 201851 20204 30 14. 9 2202 164.0 0.1 201871 20206 30 153

201863 2011615 24(1)9A (i)(ii) 20202 700,000 (i)(ii) (iii) 154

87,00085,000 95,000 B. 2. 20162017201833168 646476 3 2 36 17 18 76 155

(i)(ii) (iii)(iv) 11,600,00011,200,00011,500,000 156

20183 2019 331 (i) (ii)(iii) 157

2153800131 2019117 4953804157 201926 41717 2019831 2011 2011 U 2012 2013 2018 2012 158

9(1)9(2) Ipsos 20188 201811 9(1)9(2)11 200,000400,000 10,000 10A E.1. 159

(i) (ii) 10,00050 (iii) (i) 20185 (ii) (iii) 160

(a) [][] (b) 201878 (c) (d) (e) 161

(i)3.08 3.09(ii) 8.04 (i) (ii) (iii) (iv) (v) (vi) 162

CST33.33% 33.33%33.33%[][] CST []CSTCST SP Simply Pleasure Limited SP Flower & Tea Room SP Creative Studio 201653 100% Smile Yogurt Limited Smile Yogurt Smile Yogurt.Cake.Dessert 2010914 1 33.33%33.33%1 Smile YogurtSmile Yogurt.Cake.Dessert 163

Bonne Journee Company Limited Patisserie Tony Wong 200993 36.67%33.33% 2 2 Patisserie Tony Wong 1. 33.33%Kwan Chi Keung 2. 30%Wong Chung On 10%20% 2018711Tat Comfort Food Limited 90%45%10% 45%Wong Hoi Chi Tat Comfort Food LimitedWong Hoi Chi 55%45%Tat Comfort Food Limited Tat Comfort Food Limited Tat Comfort Food Limited 8.10 8.10 164

[] [] (a) 5% (b) (c) (d) (i) 165

(ii) (iii) (1) (2) (3) (4) (i)(ii) 30% 166

(a) 30 (b) (c) (d) 30 (e) 30 167

(f) 30 30 14A 30% 168

(a) (b) (c) (d) 169

(a) (b) (c) (d) (e) 170

171

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14A SYL [ ]Smile Yogurt LimitedSYL SYL (a) (b) (c) (d) SYL [SYL] Smile Yogurt SYL 201920202021331 1,800,0002,000,0002,200,000 (a)syl (b)(c) SYL SYL(i) 33.33%(ii) 33.33%(iii)Kwan Chi Keung 33.33%SYLSYL Smile YogurtSmile Yogurt, Cake Dessert 173

SYLSYL SYL 5% 3,000,000 14A.76(1) BJCL [ ]Bonne Journee Company LimitedBJCL BJCL [BJCL] BJCL BJCL 201920202021331 120,000150,000180,000 (a)(b) BJCL BJCL(i)36.67%(ii) 33.33%(iii) Wong Chung On10%(iv)20% BJCLBJCL Patisserie Tony Wong BJCLBJCL BJCL 174

5% 3,000,00014A.76(1) (i) (ii) 175

44 201874 2008530 54 201874 2008530 61 201874 2018530 49 [ ] [ ] 56 [ ] [ ] 68 [ ] [ ] 176

44201874 2018824 Cookies Quartet BVI 152008 SP Creative StudioSP Flower & Tea RoomSP Dance Smile YogurtBU Dining20109Smile Yogurt Limited20135 Gourmand Company Limited20164SP Simply Pleasure Limited 2004320143Bonne Chere Food & Life Style Studio30 Asian 20122015 20122012 Liza Magazine 199712 CST 54 2018742018824 Cookies Quartet BVI 2008 177

1985 20052009 Shaw s Café 20132016Best of the Best Culinary Award 20122018UU Favourite Food Awards 20102014International Kam Cha Competition 20132014International Tea Competition 1983 201411732291AA CST 178

612018 742018824 Cookies Quartet BVI 2008 401986 200719881990 1990199519951985 198619841985Cannes Cake Shop 19791984Caravelle Hotel 1976197919751976 HOFEXBarry Callebaut Asia Pacific Fonterra Brands (Hong Kong) Limited07 CST 49[ ] 1992819999 19991020078 179

2008120108 3918 2011120147 2098 2014720174 295 2014920174 20174 8452 20175 371 20176 1695 20011020059 199210 200961232291AA 180

56[ ] 2007MI Asia Limited 20022004Celluar Master Incorporated20002002 Delano Technology Corporation19851998IBM Canada 300468 1985University of Waterloo 32291AA622751 GTMI Limited My Kids Club Limited 201049 2008314 201587 2015515 (i) (ii) BBSJP68[ ] 1993 181

20082017 University of Minnesota Foundation1974 University of Minnesota 32291AA622751 B.Y.O.C. Coffee Chateau Limited Citismart Limited Joyful Harmony Limited Market Web Enterprises Limited 2006526 2003103 2012127 2009220 2015410 2006526 2007105 2011610 2012629 2009116 2009313 2009313 2006324 2018323 2007420 (i) (ii) 182

(i) (ii) (iii) C.3. XV 8.10 13.51(2) C. 1. 36 200991 49 2011121 48 201441 54 20081210 183

36 2009200210 2008320084 20098 20012002 49 292011(i)1989 1993(ii)19931994 (iii)19942011 48 252014(i)1993 2014(ii)19921993 The Wesley(iii)19911992Grand Tower Hotel(iv)19901991G2000(v) 19881989 54 1520081210 20117120081992 19931996 1997200596 200996630A 184

53 28 20187 1586 20078518 2014720149: 2078 20141020157 201410201542008120149 23892011520149 1997200711 : 97819901997 19881990 20021988 [ ]3.21 14 C.3 3.10(2) 185

[ ]B.1 (i) (ii) (iii) [ ]14 A.5 D.3.1 (i)(ii) (iii) (iv) (v) 186

3A.19[] [] 23,700,000 10,000,00010,900,000 800,000800,000900,000 187

2019331 11,200,000 D. 188

[][] XV23 10% [] (1) [] (1) CST 1(L) 100% [] [] (2) 1(L) 100% [] [] (3) 1(L) 100% [] [] (2) 1(L) 100% [] [] (4) 1(L) 100% [] [] (2) 1(L) 100% [] [] (5) 1(L) 100% [] [] (1) L (2) CST 33.33% []CST[] 189

(3) (4) (5) [] [] XV23 10% 190

[] [] [5,000,000,000] 0.01 [50,000,000.00] 1 0.01 [] [] [] [] [] [] [] [][] [] [] 8.08(1) 25%[] [][] 191

[] (1) []20%[] (2) [] A. 4.[ ] [] []10% [] 192

A.6. A. 4.[ ]A.6. [ ] D. 193

20084 Ipsos 13.6% 200812 2016 (i) (ii) 2012 94,500,00081,600,000 80,700,00022,400,00029,500,000 24,700,000 194

2. 4 4 Ipsos2017 13.6% 195

4 (i) (ii) 70.0%70.2%66.5% 18,100,00014,300,00014,700,000 19.1%17.5%18.2% 196

(i)(ii)(iii) 8,300,0008,000,000 9,100,0008.8%9.8%11.3% (i)(ii) (iii)(iv) 197

11,600,00011,200,00011,500,000 12.3%13.7%14.2% Ipsos 201310,200201712,000 4.1%201311,000201713,300 4.6% 201551 201743032.520175134.5 Ipsos 4. 5. 198

(i)(ii)(iii) 4. 4. 5. 4. 16201911 17 3. 1616 9 99(i) (ii) 39 9 4. 15 199

1515 15 15 4. 331 2016 2017 2018 94,499 81,628 80,674 (28,929) (24,243) (24,572) 65,570 57,385 56,102 (10,065) (9,706) (11,311) (27,780) (13,491) (14,872) 27,725 34,188 29,919 (5,335) (4,716) (5,233) 22,390 29,472 24,686 200

(i)(ii) 331 2016 2017 2018 % % % 94,499 100.0 81,423 99.7 80,261 99.5 205 0.3 413 0.5 94,499 100.0 81,628 100.0 80,674 100.0 99.7%99.5% (i)(ii) 201

331 2016 2017 2018 % % % 30,096 31.8 28,643 35.2 27,903 34.8 26,697 28.3 22,841 28.1 18,555 23.1 15,233 16.1 12,158 14.9 10,777 13.4 72,026 76.2 63,642 78.2 57,235 71.3 13,980 14.8 10,522 12.9 10,261 12.8 8,493 9.0 7,259 8.9 6,557 8.2 1 3,071 3.8 2 2,452 3.1 3 685 0.8 22,473 23.8 17,781 21.8 23,026 28.7 94,499 100.0 81,423 100.0 80,261 100.0 (1) 20171120162017331 (2) 201710201620173 31 (3) 201712201620173 31 4 72,000,00063,600,00057,200,000 76.2%78.2%71.3% 202

2014 2015331 2015 (i) (ii) (iii) 2018331 20183316,200,000 7.7% Ipsos20182022 (i) (ii) 2016 0.3% 0.5% 203

2016 331 2016 2017 2018 % % % 59,692 63.2 51,081 62.6 51,277 63.6 31,633 33.5 27,097 33.2 25,813 32.0 3,174 3.3 3,450 4.2 3,584 4.4 94,499 100.0 81,628 100.0 80,674 100.0 3.3%4.2%4.4% 331 2016 2017 2018 97,417 612.7 78,794 648.3 75,796 676.5 82,892 381.6 67,696 400.3 62,322 414.2 7,245 438.1 7,819 441.2 7,884 454.6 187,554 503.8 154,309 529.0 146,002 552.6 204

59,700,000 51,100,00051,300,00063.2%62.6% 63.6% 31,600,000 27,100,00025,800,00033.5%33.2% 32.0% 20163 31612.7381.620183 31676.5414.2 5.1%4.2% (i)(ii)(iii) (iv) 201633197,417 82,892201833175,79662,322 331 2016 2017 2018 % % % 41,836 44.3 37,646 46.1 39,409 48.8 47,429 50.2 40,221 49.3 36,358 45.1 (EPS) 3,220 3.4 2,388 2.9 2,298 2.8 2,014 2.1 1,373 1.7 2,609 3.3 94,499 100.0 81,628 100.0 80,674 100.0 205

(EPS) 44.3%46.1%48.8% 50.2%49.3%45.1% 331 2016 2017 2018 % % % 18,128 62.7 14,267 58.8 14,664 59.7 1 7,169 24.8 6,799 28.0 6,723 27.4 2 2,056 7.1 1,940 8.0 1,996 8.1 3 437 1.5 370 1.5 389 1.6 4 287 1.0 149 0.6 84 0.3 5 852 2.9 718 3.1 716 2.9 28,929 100.0 24,243 100.0 24,572 100.0 (1) (2) (3) (4) (5) 18,100,00014,300,00014,700,000 62.7%58.8%59.7% 206

100% 331 2016 2017 2018 % % % 41,753 69.9 36,430 71.3 36,434 71.1 22,349 70.7 19,273 71.1 17,954 69.6 1,468 46.3 1,682 48.8 1,714 47.8 65,570 69.4 57,385 70.3 56,102 69.5 201633165,600,0002017331 57,400,0002018 3 31 56,100,000 201720183312016331 69.9%71.3%71.1%2017 20183312018331 2016201733170.7%71.1% 69.6%2018331 207

331 2016 2017 2018 % % % 1 6,268 62.3 6,075 62.6 7,105 62.8 2 2,857 28.4 2,771 28.5 3,073 27.2 3 437 4.3 372 3.8 413 3.7 4 503 5.0 488 5.1 720 6.3 10,065 100.0 9,706 100.0 11,311 100.0 (1) (2) (3) (4) 10,100,0009,700,000 11,300,00010.7%11.9%14.0% 62.3% 62.6%62.8%(i)(ii) 331 2016 2017 2018 % % % 5,143 82.1 5,365 88.3 6,322 89.0 1,125 17.9 710 11.7 783 11.0 6,268 100.0 6,075 100.0 7,105 100.0 208

331 2016 2017 2018 % % % 23,724 85.4 9,954 73.8 10,854 73.0 1 1,622 5.8 1,606 11.9 1,667 11.2 799 2.9 640 4.7 636 4.3 189 0.7 243 1.8 252 1.7 2 435 1.6 240 1.8 151 1.0 3 1,011 3.6 808 6.0 1,312 8.8 27,780 100.0 13,491 100.0 14,872 100.0 (1) (2) (3) 27,800,00013,500,000 14,900,00029.4%16.5%18.4% 209

331 2016 2017 2018 4,701 5,704 4,888 781 (916) 320 5,482 4,788 5,208 (147) (72) 25 5,335 4,716 5,233 16.5% 100%19.2%13.8%17.5% 16.4%16.5%16.4% 10. (i) (ii) 210

20183312017331 20172018331 81,600,00080,700,00020173 31154,3092018331146,002 (i) 2018331 (ii) 2017331529.020183 31552.6(iii) (i)2018331 (ii) 2016 201733124,200,000300,000 201833124,600,0002017 33114,300,000201833114,700,000 211

201733157,400,0001,300,000 201833156,100,000 20172018331 70.3%69.5%(i) (ii)20172018331 20173319,700,000 1,600,000201833111,300,000(i) 1,000,0002018331 (ii)2017331300,000 201733113,500,000 1,400,000201833114,900,000(i) 900,000(ii)500,000 20173314,700,0002018 3315,200,000(i)2018331 300,000(ii)2017331 900,000 212

201733113.8% 201833117.5% 201733129,500,00020183 3124,700,000(i)(ii) (iii) 20173312016331 201633194,500,00012,900,000 201733181,600,000 2016331187,5542017331 154,309(i) (ii) (iii) (iv) (v) 2016331 508.32017331529.0 (vi) 2016 213

201633128,900,0004,700,000 201733124,200,000(i) 201633118,100,0002017331 14,300,000(ii) 20163317,200,0002017331 6,800,000 201633165,600,0008,200,000 201733157,400,000 20172018331 69.4%70.3%(i) (ii)20162017331 214

201633110,100,000 400,00020173319,700,000 400,000 201633127,800,000 14,300,000201733113,500,000(i) 13,800,0002016331 12,200,000(ii)200,000 20162017331(iii) 200,000 20163315,300,000600,000 20173314,700,000(i)20163 31800,000(ii)2017331 900,000 201633119.2% 201733113.8% 201633122,400,00020173 3129,500,000(i)(ii) 215

(i) (ii)(iii)(iv) +2.5% +5.0% 2.5% 5.0% 2016331 2,362 4,725 (2,362) (4,725) 2017331 2,041 4,081 (2,041) (4,081) 2018331 2,017 4,034 (2,017) (4,034) 1 +3.5% +7.0% -3.5% -7.0% 2016331 (634) (1,269) 634 1,269 2017331 (499) (999) 499 999 2018331 (513) (1,026) 513 1,026 2 +1.5% +3.0% -1.5% -3.0% 2016331 (125) (250) 125 250 2017331 (120) (240) 120 240 2018331 (137) (273) 137 273 2 +2.5% +5.0% -2.5% -5.0% 2016331 (291) (582) 291 582 2017331 (279) (559) 279 559 2018331 (287) (573) 287 573 (1) 3.5%7.0% 20132017(i)6.9%(ii)(4.5)%(iii)(3.2)% 216

(2) 1.5%3.0% 2013 2017(i)(0.5)%(ii) (1.5)%(iii)3.1% (3) 2.5%5.0% 2013 2017(i)4.1%(ii)4.6% (i) 1.52.42.0(ii) 3.34.33.3(iii) 2.43.12.6 (i)(ii) (i)(ii)(iii)[] 217

331 2018 2016 2017 2018 630 3,299 2,663 2,891 3,126 1,110 1,511 1,878 3,935 129 4,019 1,157 778 6,918 8,272 11,850 11,329 15,346 12,446 17,776 19,297 4,379 2,710 3,862 7,691 2,583 5,558 1,814 2,244 1,899 6,962 10,167 5,676 9,935 8,384 2,279 12,100 9,362 20163318,400,0002017331 2,300,00020163314,000,000 20173311,900,0002016331 201833112,100,000 201833124,700,000(i) 12,900,000(ii)2,100,000 20186309,400,0002018 630 218

331 2016 2017 2018 16,600 35,116 22,371 (16) (137) (2,149) (19,268) (33,625) (16,644) (2,684) 1,354 3,578 9,602 6,918 8,272 6,918 8,272 11,850 (i)(ii) (iii) 201633116,600,000 27,700,000(i)1,200,000 (ii)(a)100,000(b) 200,000(c)2,800,000 (iii)9,600,000 219

201733135,100,000 34,200,000(i)800,000 (ii)(a)600,000(b) 1,700,000(iii)1,100,000 201833122,400,000 29,900,000(i)600,000 (ii)(a)900,000(b) 200,000(c)1,200,000 (iii)8,300,000 16,000100,000 2,100,000 201633119,300,000 (i)19,400,000(ii)1,500,000(iii) 1,400,000 201733133,600,000 (i)36,600,000(ii)3,100,000 201833116,600,000 (i)12,900,000(ii)3,700,000 220

[] 12 (i)(ii)(ii) (iv) 20163311,100,000 2017331500,0002017331 800,0002017331100,000 20183312,000,000 20183312,100,000 2018331600,000 221

331 2016 2017 2018 1 1,741 811 1,650 2 1,558 1,852 1,241 3,299 2,663 2,891 331 2016 2017 2018 3 43.2 44.9 41.3 (1) (2) (3) 365 20163313,300,0002017331 2,700,000 20183312,900,00020173 31800,00020183311,700,000 222

331 2016 2017 2018 130 1,857 1,764 1,616 3160 667 422 214 6190 413 208 614 91120 88 67 45 120 274 202 402 3,299 2,663 2,891 43.244.9 41.360 201873120183312,200,00076.4% 223

331 2016 2017 2018 1 188 89 279 2,027 2,049 2,698 2 316 316 316 3 78 85 102 2,609 2,539 3,395 (1,499) (1,028) (1,517) 1,110 1,511 1,878 (1) (2) B (3) 331 2016 2017 2018 0.7 0.6 0.8 365 224

20162017201833130 201620172018331 2016 20172018331 201620173312,600,000 2,500,00020183313,400,000 201620173312,000,00020183312,700,000 2018331 20187312018331 331 2016 2017 2018 1 1,046 1,017 741 2 3,333 1,693 3,121 4,379 2,710 3,862 (1) 30 (2) (i)(ii) 225

331 2016 2017 2018 18.0 15.5 13.1 365 20162017201833130 18.015.513.1 20163314,400,0002017331 2,700,00020163313,300,0002017 3311,700,000(i) (ii) 20183313,900,000 20183313,100,000(i) (ii)2018 331 20187312018331 226

331 2016 2017 2018 861 2,048 800 861 1,536 288 861 1,974 726 2,583 5,558 1,814 2018331 2018630 2018630 20187(i)8,200,000(ii) 3,000,000(i) 1,000,000(ii) 227

(i) (ii) (iii) (iv) 201872018630 2016201720183312018 630 331331 2016 2017 2018 29.3% 41.9% 37.1% 23.7% 36.1% 30.6% 2.2 1.2 3.1 1.7 1.0 2.6 123.1% 206.6% 114.5% 199.4% 719.0% 155.4% 228

100% 100% 201633129.3%23.7% 201733141.9%36.1% 201633123,700,00025.1%2017 33110,000,00012.2% 2018331 37.1%30.6%(i)2017331 8,000,0009.8%2018331 9,100,00011.3%(ii)2018331 10,900,00013.5% 20163312.21.720173311.2 1.020163318,400,00020173 312,300,0002016331 4,000,00020173311,900,000 2016331 20183313.12.6 201833112,100,0002018331 24,700,0002018331 12,900,000 100% 229

2016331123.1%2017331 206.6%(i)201633122,400,000 201733129,500,000 (ii)201633118,200,0002017 33114,300,00020163314,000,000 2017331 2018331114.5% 201833121,600,000(i)2017331 8,300,000201833111,900,000(ii) 2017331500,00020183312,000,000 100% 2016331199.4%2017331 719.0%(i)2016331 22,400,000201733129,500,000(ii) 201633111,200,0002017331 4,100,00036,600,000 2018331155.4%(i) 201633122,400,00020173 3129,500,000(ii)2018331 15,900,000201833124,700,000 201833112,900,000 16,000100,0002,100,000 [] []2019331 230

21. 201620172018331 [] [][][][][ ][][] (i) []2019331 (ii) [][] (iii) [][] 2019331[ ]20193 31[] [] 19,400,000 36,600,00012,900,000 3,900,000 231

2018331 23. 232

25. 13.1313.19 2018331(i) (ii) 2018331 233

[ ] [] [][][][][] [][][] [][] (i) [][][][]% 350 87,000 2019 2020 (1) (2) 1. 2. 234

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[ ] [][][][] [][][][][] [][][] [][] 2019331 [] [] [] [] [] 237

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331 2016 2017 2018 13 1,127 503 2,004 15 1,499 1,028 1,517 19 217 289 264 2,843 1,820 3,785 14 3,299 2,663 2,891 15 1,110 1,511 1,878 4,019 1,157 16 6,918 8,272 11,850 15,346 12,446 17,776 17 4,379 2,710 3,862 18 2,583 5,558 1,814 1,899 6,962 10,167 5,676 8,384 2,279 12,100 11,227 4,099 15,885 20 11,227 4,099 15,885 11,227 4,099 15,885 I-5

201541 8,187 8,187 22,390 22,390 10 (19,350) (19,350) 2016331201641 11,227 11,227 29,472 29,472 10 (36,600) (36,600) 2017331201741 4,099 4,099 24,686 24,686 10 (12,900) (12,900) 2018331 15,885 15,885 I-6

331 2016 2017 2018 27,725 34,188 29,919 1,175 761 648 28,900 34,949 30,567 (134) 70 (856) 248 636 (228) (2,828) (1,669) 1,152 26,186 33,986 30,635 (9,586) (8,264) 1,130 16,600 35,116 22,371 (16) (137) (2,149) (19,350) (36,600) (12,900) 1,500 3,053 (1,418) (78) (3,744) (19,268) (34,578) (16,644) (2,684) 1,354 3,578 9,602 6,918 8,272 6,918 8,272 11,850 I-7

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9 I-15

12 12 2312 12 1 30 i)ii) iii) I-16

90 a) b) c) d) I-17

12 I-18

5. 4 201620172018331 3,299,0002,663,0002,891,000 6. 7. 4 2016 2017 2018 94,499 81,628 80,674 10% I-19

2016 2017 2018 94,499 81,628 80,674 2016 2017 2018 1,127 503 2,004 8. 331 2016 2017 2018 34,797 20,591 21,755 575 539 562 35,372 21,130 22,317 88 88 120 18,128 14,267 14,664 7,199 7,305 8,318 1,125 710 783 8,324 8,015 9,101 1,175 761 648 I-20

9. 331 2016 2017 2018 4,701 5,704 4,888 781 (916) 320 5,482 4,788 5,208 (147) (72) 25 5,335 4,716 5,233 16.5% 331 2016 2017 2018 27,725 34,188 29,919 16.5% 4,574 5,641 4,937 11 6 781 (916) 320 (20) (20) (30) 5,335 4,716 5,233 10. 331 2016 2017 2018 6,450 12,200 4,300 6,450 12,200 4,300 6,450 12,200 4,300 19,350 36,600 12,900 I-21

11. (a) 2016331 3,840 4,050 18 7,908 3,840 4,050 18 7,908 3,840 4,050 18 7,908 11,520 12,150 54 23,724 2017331 3,300 18 3,318 3,300 18 3,318 3,300 18 3,318 9,900 54 9,954 2018331 3,600 18 3,618 3,600 18 3,618 3,600 18 3,618 10,800 54 10,854 I-22

(b) 201620172018331 11(a)2016201720183 31 331 2016 2017 2018 766 778 834 33 35 35 799 813 869 331 2016 2017 2018 1,000,000 2 2 2 I-23

12. 2 13. 201541 347 2,237 2,166 2,686 7,436 4 12 16 2016331 351 2,237 2,178 2,686 7,452 3 127 7 137 2017331 354 2,237 2,305 2,693 7,589 159 1,899 60 31 2,149 2018331 513 4,136 2,365 2,724 9,738 201541 177 1,246 1,708 2,019 5,150 68 437 299 371 1,175 2016331 245 1,683 2,007 2,390 6,325 62 372 149 178 761 2017331 307 2,055 2,156 2,568 7,086 57 413 84 94 648 2018331 364 2,468 2,240 2,662 7,734 2016331 106 554 171 296 1,127 2017331 47 182 149 125 503 2018331 149 1,668 125 62 2,004 20% 5 30% 20% I-24

14. 331 2016 2017 2018 1,741 811 1,650 1,558 1,852 1,241 3,299 2,663 2,891 15. 331 2016 2017 2018 188 89 279 2,027 2,049 2,698 316 316 316 78 85 102 2,609 2,539 3,395 (1,499) (1,028) (1,517) 1,110 1,511 1,878 30 331 2016 2017 2018 130 188 89 279 201620172018331 I-25

16. 0.01 17. 331 2016 2017 2018 1,046 1,017 741 3,333 1,693 3,121 4,379 2,710 3,862 030 331 2016 2017 2018 130 1,046 1,017 741 18. 331 2016 2017 2018 861 2,048 800 861 1,536 288 861 1,974 726 2,583 5,558 1,814 I-26

19. 201541 70 147 2016331 217 72 2017331 289 (25) 2018331 264 20. 201620172018331 21. 331 2016 2017 2018 7,003 4,056 7,631 5,815 1,855 4,656 12,818 5,911 12,287 I-27

22. 5%1,500 20162017 2018331575,000 539,000544,000 23. (i) 18 (ii) 331 2016 2017 2018 11,520 9,900 10,800 54 54 54 12,150 23,724 9,954 10,854 24. I-28

25. 331 2016 2017 2018 9,449 10,726 15,143 3,629 6,575 2,555 16 50 50 201620172018331 29,00035,00049,000 I-29

I-30

% 2016331 1,046 1,046 1,046 2,583 2,583 2,583 3,629 3,629 3,629 2017331 1,017 1,017 1,017 5,558 5,558 5,558 6,575 6,575 6,575 2018331 741 741 741 1,814 1,814 1,814 2,555 2,555 2,555 I-31

26. 201541 2,501 2,501 (19,350) 82 (19,268) 19,350 19,350 201633141 2,583 2,583 (36,000) 2,975 (33,025) 36,000 36,000 201733141 5,558 5,558 (12,900) (3,744) (16,644) 12,900 12,900 2018331 1,814 1,814 27. [2018331] (i) (ii) (iii) 2017827 20187123,900,000 2018612018723 4,500,000 28. 2018331 I-32

2018331 A. 4.29(1)[]2018331 []20183 31 2018331[ ] 2018331 20183 20183 31 [] 20183 31 31 1 2 3 [][] [] 15,885 [] [] [] [][] [] 15,885 [] [] [] II-1

1. 2018331 15,885,000 2. [][][][][] [][][] 2018331 [] 3. 2018331 (2)[][] 2018331[] 4. 2018331 2018331 2018331 2018712 3,900,000[][][][] 2018331 [][] II-2

[] II-3

[] II-4

[] II-5

2018742219613 [] [] 1. (a) 27(2) (b) 2. [ ][ ][ ] (a) (i) (ii) III-1

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

(30) (v) (vi) III-3

(vii) (20%) (14) (20%) III-4

(b) (i) (aa) (bb) (cc) (6) III-5

(dd) (ee) (ff) (ii) (a) (b) III-6

(iii) (iv) (v) III-7

(vi) (vii) 622 III-8

(viii) (aa) III-9

(bb) (cc) (dd) (ee) (c) (d) III-10

(e) (i) (15) (ii) III-11

(iii) (15)(18) 21 (iv) (21)(20) (14) (10) III-12

(aa) (bb) (cc) (dd) (ee) (ff) (20%) (gg) (v) III-13

(vi) (f) (21) III-14

(g) (i) (ii) (a) (b) III-15

(h) (2) 2.50 1.00 III-16

(i) 3(f) (j) (i) (ii) III-17

(k) 3. (a) (b) (a)(b) (c)37 (d)(e) III-18

(c) (d) III-19

(e) (f) (a)(b) (c) III-20

(a)(b) (c) (d) (g) (h) (i)(ii) (iii) III-21

(i) (j) (1) (2) 2018713 2010 (k) (l) III-22

(m) (n) (o) (60) (p) 25% III-23

(q) (a)(b)(c) 21 III-24

(r) (75%) (s) (4)(90%) (4)(2) (1) (t) 4. Conyers Dill & Pearman III-25

A. 1. 201874 9 2202[ ]16 2. 380,00038,000,000 0.01 CST [ ][4,962,000,000]380,000 38,000,0000.01[50,000,000][5,000,000,000] 0.01 [][] [50,000,000][5,000,000,000] [][] [ ] IV-1

3. Cookies Quartet BVI 4. [ ] CST[ ] (a) (b) [4,962,000,000]380,000 38,000,000[50,000,000][5,000,000,000] (c) (aa) [] (bb)[] (cc) [] 30 (i) [](aa)[][](bb) [](cc)[] IV-2

(ii) D. (iii) [] [][] CST (iv) [] (aa)[] [] 20%(bb)(vi) IV-3

(v) [] 10% (vi) (iv) (v) [] [] 10% 5. IV-4

6. (a) (i) [ ] [] [] 10% (ii) IV-5

(iii) (b) (c) [] [] IV-6

(d) 26 25% IV-7

B. 1. (a) Cookies Quartet BVI 2018827Cookies Quartet BVI(3)3 (b) Cookies Quartet BVI 2018827Cookies Quartet BVI(3)3 (c) Cookies Quartet BVI 2018827Cookies Quartet BVI(3)3 (d) (e) (f) IV-8

2. (a) 301223892 30 20181020 20181019 302757844 30 2013107 2023106 302968688 35 2014417 2024416 303630564 43 20151216 20251215 14408869 30 2016921 2026920 18594121 43 2017414 2027413 14408868 35 201567 202566 01672347 3035 20141016 20241015 88013206 3035 2018625 3320315 3035 2016625 01936571 3035 2018626 N/140287 3035 2018628 N/140288 3035 2018628 1906864 3035 2018628 IV-9

(b) cookiesquartet.com 20171121 20191120 cookiesquartet.com.hk 20171121 20191120 cookiesquartet.hk 20171121 20191120 cookiesquartet.asia 20171121 20191120 cookiesquartet.com.cn 20171121 20191120 cookiesquartet.cn 20171121 20191120 cookiesquartet.in 20171121 20191120 C. 1. [][] [][] 120,000 IV-10

2. 23,700,00010,000,000 10,900,00011 2019331 11,200,000 2018331 (i)(ii) 3. [][] XV XV78 352 IV-11

(i) (1) (2) [] [] (2) [] [] (2) [] [] (1) L (2) CST 33.33%CST (ii) 1 CST 1,000 (L) 33.33% CST 1,000 (L) 33.33% CST 1,000 (L) 33.33% (1) L IV-12

4. [][] XV23 10% [] (1) [] (1) CST 1(L) 100% [] [] (2) 1(L) 100% [] [] (3) 1(L) 100% [] [] (2) 1(L) 100% [] [] (4) 1(L) 100% [] [] (2) 1(L) 100% [] [] (5) 1(L) 100% [] [] (1) L (2) CST33.33% CST (3) (4) (5) IV-13

5. (a) XV XV78 352 (b) XV23 10% (c) E.8. (d) E.8. (e) E.8. (f) IV-14

(g) 5% D. 1. [ ] (a) 17 (b) (i) (ii) (b) (f) (i) (ii) (iii) IV-15

(c) 1.00 (l)(m)(n)(o)(p) 21(r) IV-16

(d) []10% [] (i) 10% (ii) 10% 17.02(2)(d)17.02(4) (r) 30% 30% (r) IV-17

(e) 1%1% (i) 17.02(2)(d) 17.02(4) (ii) (aa) (bb) (cc) (dd) (c) (ee) (ff) (gg) IV-18

(hh) (c) (f) (r) (i) (ii) (iii) (g) (i) 0.1% (ii) 5,000,000 IV-19

(i) (ii) (iii) 17.02(2)(c)(d)17.02(4) (iv) 2.17 (h) XIVA (i) (ii) (i) (ii) (i) 60 IV-20

(ii) 30 (i) (j) (k) (l) (i) (m) IV-21

(ii) (m) (n) 14 (o) IV-22

(p) (q) (r) IV-23

17.03(13) 200595 (s) (i) (ii) (l)(m)(n)(o)(p) (iii) (p) (iv) (o) (v) IV-24

(vi) (i) (u) (t) (i) 17.03 (ii) 17 (u) (i) (m) (v) IV-25

(w) (x) (i) (ii) (iii) (iv) (i) (ii) (iii) (y) IV-26

(z) [] E. 1. [][] B.1.(e) 358 2. 3. 3A.07 4,200,000 IV-27

4. 9,600 5. 2018331 6. [] 7. (a) 0.1% (b) [] IV-28

8. 1 6 Conyers Dill & Pearman Ipsos Limited 9. 44A44B 10. 32L 4 IV-29

11. (a) (i) (ii) (iii) (iv) (b) (c) 12 (d) [] [] (e) IV-30

(f) (g) (h) E.8. (i) (ii) (i) 12. [] [] [] 2018522 Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands [][] [] [] 33.33% IV-31

(a) [] (b) E.8. (c) B.1. (d) [] [] 839 (a) (b) (c) (d) 201620172018331 (e) Conyers Dill & Pearman (f) (g) (h) B.1. V-1

(i) C.1. (j) D.8. (k) (l) Ipsos (m) [] V-2