1623 2018

2 4 5 22 29 44 65 69 71 72 73 74 75 164

3,222.42,669.3 20.7% 150.5125.719.8% 2017 1,134.428.8% OCTG PDOBP 2017 2018 1,428.78.6% 329.5326.4 OCTG(CRA)(CWC) CRA 72.8OCTG CWC CWC 90.9CWC39% (MFL) 2

106Saipem S.p.A CRA PDO BP 105 20192019 2018 2019 API OCTG OCTG 16,000 3

Cricket Square, Hutchins Drive PO Box 2681 Grand Cayman, KY1-1111 Cayman Islands 1825 1 1 3206 Conyers Trust Company (Cayman) Limited PO Box 2681 Grand Cayman, KY1-1111 Cayman Islands 183 17 1712 1716 1623 www.hilonggroup.net 852-2506-0885 852-2506-0109 4

% % 1,036,832 32.2 1,037,083 38.9 OCTG 225,501 7.0 161,863 6.1 58,373 1.8 67,412 2.5 20,673 0.7 18,350 0.7 87,352 2.7 31,524 1.1 1,428,731 44.4 1,316,232 49.3 OCTG 63,994 2.0 54,041 2.0 7,948 0.2 86,634 3.2 71,866 2.2 81,172 3.0 CRA 72,836 2.3 27,021 1.0 CWC 90,886 2.8 65,576 2.5 18,910 0.6 15,092 0.6 326,440 10.1 329,536 12.3 1,134,413 35.2 880,745 33.0 332,832 10.3 142,834 5.4 3,222,416 100.0 2,669,347 100.0 5

% % 918,137 28.5 908,926 34.1 873,600 27.1 799,886 30.0 615,405 19.1 427,483 16.0 399,308 12.4 239,731 9.0 279,867 8.7 238,222 8.9 133,218 4.1 53,916 2.0 2,881 0.1 1,183 0.0 3,222,416 100.0 2,669,347 100.0 2,669.3553.120.7%3,222.4 1,316.2112.5 8.5%1,428.7OCTG 45,614 51,600 18,390 18,138 838,837 935,893 12,362 6,642 16,016 15,234 197,995 101,190 1,036,832 1,037,083 6

935.997.110.4% 838.8 51,60011.6%45,614 101.2 96.895.7% 198.0 6,64286.1%12,362 15,234 5.1% 16,016 OCTG161.9 63.639.3%225.5 OCTG 329.53.10.9% 326.4 OCTGCRA CWC OCTG CRA PPL CWC 880.7 253.728.8% 1,134.4(i)(ii) OCTG(iii) CPOC93.0Sepeat 50.5Saipem106.0 77.8 7

1,823.7378.020.7% 2,201.7 845.6 175.120.7% 1,020.731.7% 168.7 44.526.4%124.2 3.9% 6.3% (i) (ii) 357.4 48.413.5%405.8 56.9 94.9 8.9 62.9 10.6 114.2 23.2%750.3 0.523.3% 57.7 252.0437.0%309.7 (i)106.3 122.6(ii)196.2212.5 171.6 60.935.5% 232.5 45.982.0 26.8% 35.3% 119.2 29.524.8% 148.7 8

889,138 848,700 (1) 144 164 (1) 365 164144 1,958,858 1,901,756 4,039 5,925 (154,978) (44,164) 1,807,919 1,863,517 92,163 95,055 133,866 107,262 226,029 202,317 48,913 23,013 2,036 5,037 2,084,897 2,093,884 9

90 1,000,596 814,464 90 180 212,306 195,656 180 360 371,425 332,458 360 720 135,565 266,502 720 88,027 254,437 1,807,919 1,863,517 (1) 208 238 (1) 365 238 208 9 10

9 143,457 33,511 12,418 10,653 (897) 154,978 44,164 206,909 165,683 15,984 30,265 658,109 645,654 19,031 36,021 34,213 34,815 44,168 32,843 7,026 5,362 94,158 40,675 4,109 3,482 15,482 10,699 1,099,189 1,005,499 11

90 458,889 474,009 90 180 170,886 176,756 180 360 28,656 11,500 360 720 12,812 8,978 720 2,850 4,676 674,093 675,919 (1) 112 119 (1) 365 469,136 255,970 (496,446) (179,055) 296,587 (326,705) 269,277 (249,790) 3,447 (18,618) 389,014 657,422 661,738 389,014 12

469.1 585.4 116.3 256.0 314.4 58.4 496.4 489.533.0 11.8 179.1 233.2 38.2 30.4 296.6527.6 205.0 1,027.0 326.72,831.9 225.4 2,721.7 232.8588.9 13

3,070.6 2,106,656 1,602,591 16,780 660 480,527 355,261 (109,290) (53,072) 2,494,673 1,905,440 97,185 149,575 369,467 341,365 109,290 53,072 575,942 544,012 2,706.9 2,255.5 217.2108.7 49.645.8 400.0 385.077.0 Hilong Oil Service Co., Ltd. 36,000,000 29,000,000 3,200,000 20.0 14

60,000,0007.25% 250,000,0007.25% 59 3,070,615 2,449,452 (661,738) (389,014) (184,479) (150,006) (24,040) 2,224,398 1,886,392 3,522,010 3,463,775 5,746,408 5,350,167 38.71% 35.26% 15.0% 37.7% 47.8% 15

3,4052,914 2,174 562 436 108 89 36 3,405 558.9 46,322,000 5.93 19,980,000 16

OCTGPDO CWC 2,669.320.7%3,222.4 150.5125.7 19.8%117.4 194.065.2% 1,428.78.5% 32.2%33.5% OCTG 58.0 58.2 6.612.4 5.1% OCTG 161.939.3%225.5 1,134.428.8% OCTG 17

PDO2 10 51,000 BP8,500 51 22,800 326.4 329.5 CRA3 OCTG CWC 24.4% 33.9% 1.73 MFL 332.8 142.8 133.0% 106 Saipem S.p.A 5,360 75 CWC 18

24 11 118% E&P API API OCTG OCTG 19

OCTG OCTG PDO BP PDO PDOPDO 16,000 20

21 OCTG CWC

51 55 45 60 69 62 72 54 72 62 51 2009 Hilong Group Limited 22

55 Hilong Oil Service and Engineering Nigeria Limited Hilong Drilling & Supply FZE GAC Energy Company 45 UMW Ace (L) Ltd. 23

60 69 (the College of Economy of Texas A&M University in the United States) 24

62 72 5214 54 581 610 923 94 861 380020011739 3768 25

72 62 52Hilong Oil Service and Engineering Nigeria Limited China-Egypt Drilling Company 26

45 (FCCA) 54 49 49 49 27

55 57 55 28

29

30

4/4 4/4 3/4 4/4 4/4 4/4 4/4 4/4 4/4 3/4 3.13 31

32

A B A B A B A B A B A B A B A B A B A B A B 33

4 3/3 3/3 3/3 34

2/2 2/2 2/2 35

1/1 1/1 1/1 36

10 9 8 7 65-74 13-18 6 5 55-64 7-12 4 3 2 1 0 0-6 45-54 18 37

D.3.1 65 68 3,700 977 728 5,405 38

(i) (ii) (iii) (iv) (v) (vi) (vii) (viii) 39

(1) (2) (3) (4) (5) 40

41

11 3206 +852 2506 0109 amyszhang@hilonggroup.com 42

1/1 0/1 1/1 0/1 0/1 0/1 1/1 1/1 0/1 0/1 43

30 5 21 ABS Quality Evaluations Inc. ISO 14001 44

(ABS) OHSAS 18001106 ABS LED (i) (ii) (iii) (iv) (v) 45

24 46

47

2 3 5 21 1.0 17.014.7 1.0 17.014.9 18 33 1,191.7 1,191.5 9.2% 26.9%7.3% 29.3% 6.6% 28.3%4.8% 16.1% 5% 14(d) 7 48

17 164 3.13 84 49

3,4052,914 558.9 46,322,000 5.93 19,980,000 21(a) 50

1,000,001 1,500,000 5 1,500,001 2,000,000 4 9 51

30 (a) (b) (i) (ii) (b) (i) (ii) (iii) (iv) 1.00 (c) 46,322,0002.73% 46,322,000 2,150,0000.13% (d) 2.60 52

(e) 20% 20% (f) (i) (ii) (iii) (iv) (v) 53

600,000 600,000 2.60 600,000 600,000 2.60 2,150,000 2,150,000 2.60 2,150,000 2,150,000 2.60 5,500,000 5,500,000 24,064,300 24,064,300 2.60 29,564,300 29,564,300 (a) (b) 1.00 54

(c) 5% 30% 81,573,950 4.81% (d) 12 1% (e) (i)(ii) (iii) (f) (g) (i) (ii) 21 (iii) (iv) 55

(v) (vi) (vii) (viii) (ix) 5.93 19,980,000 17,221,200 17,221,200 5.93 5.72 56

A. XV 352 (a) 881,581,000 (1) 112,300,800 (2) 760,000 994,641,800 58.631% 24,300,000 (3) 692,000 24,992,000 1.473% 1,151,600 0.068% 1,200,000 0.071% 77,000 (4) 0.005% (1) Hilong Group LimitedHilong Group LimitedSCTS Capital Pte Ltd. Standard Chartered Trust (Singapore) Limited Hilong Group Limited (2) 24,300,000 24,000,000 64,000,800 Younger Investment Limited North Violet Investment Limited LongZhi Investment Limited SCTS Capital Pte Ltd. Standard Chartered Trust (Singapore) Limited North Violet Investment Limited LongZhi Investment Limited (3) Younger Investment Limited (4) 57

(b) 600,000 0.04% 600,000 0.04% 2,150,000 0.13% 2,150,000 0.13% (c) Hilong Group Limited 100 100% 58

B. 336 Hilong Group Limited 881,581,000 (1) 51.97% SCTS Capital Pte Ltd. 1,026,950,800 (1)(2) 60.54% Standard Chartered Trust (Singapore) Limited 1,026,950,800 (1)(2) 60.54% 995,241,800 (3) 58.67% (1) 881,581,000Hilong Group LimitedHilong Group LimitedSCTS Capital Pte Ltd. Standard Chartered Trust (Singapore) Limited (2) 24,300,00024,000,00064,000,800 Younger Investment Limited North Violet Investment Limited LongZhi Investment Limited SCTS Capital Pte Ltd.Standard Chartered Trust (Singapore) Limited (3) 59

2929 A 154 155 A 14A.76 1,850.32 610,644.15627,528.32644,412.49 476.99 151,903.43 156,255.96160,608.50 126.12 28,349.1529,499.9930,650.84 60

(i) (ii) (iii) (iv) (v) (vi) 9,490,7629,759,41210,028,062 0.1% 5%A 276.74 1,008 411.12 1,046.58 603.16 61

(i) (ii) (iii) (iv) (v) 9,490,7629,759,41210,028,062 12,020,307 16,093,98316,719,6423,921,099 94.74% 206,355.44 5,176,412 (i) (ii)(iii)(iv) (v) 95.65% 98.0% 1.0% 50.0%94.74% A 62

(i)(ii) (iii)12 14A.81 17,349,07619,195,9075,366,152 0.1% 5% A (i) (ii) (iii) 14A.56 14A.57 60,000,0007.25% 250,000,0007.25% 100% 59 7.25 63

25% Hilong Group Limited 1.0 0.008831 64

69 163 2018 12 31 2018 12 31 65

3.2 94.1(b) 5 14(b) 2018 12 31 19.632018 12 31 3.21 1.55 66

67

2019 3 22 68

7 3,261,017 2,915,155 8 83,110 86,440 9 212,627 183,406 10 39,230 55,629 12 211,348 180,815 11 57,244 21,460 3,864,576 3,442,905 13 889,138 848,700 4,14(a) 24,040 14(b) 2,084,897 2,093,884 15 176,959 166,312 37,910 35,695 14(c) 184,479 150,006 14(c) 661,738 389,014 4,035,121 3,707,651 7,899,697 7,150,556 17 141,976 141,976 18 1,139,627 1,136,669 (92,848) (114,649) 2,120,614 2,067,512 3,309,369 3,231,508 212,641 232,267 3,522,010 3,463,775 69

14(d) 2,494,673 1,905,440 12 48,185 42,902 16 38,311 21,783 2,581,169 1,970,125 3,14(e) 1,099,189 1,005,499 114,175 3 71,465 41,117 47,124 14(d) 575,942 544,012 16 8,805 5,846 1,796,518 1,716,656 4,377,687 3,686,781 7,899,697 7,150,556 69163 70

6 3,222,416 2,669,347 19 (2,201,734) (1,823,746) 1,020,682 845,601 19 (124,227) (168,650) 19 (405,810) (357,424) 4,14(b) (12,418) 22 56,881 (94,850) 535,108 224,677 23 9,105 138,722 23 (318,791) (196,397) (309,686) (57,675) 10 7,121 4,611 232,543 171,613 24 (82,012) (45,913) 150,531 125,700 148,741 119,150 1,790 6,550 150,531 125,700 25 0.0877 0.0702 25 0.0877 0.0702 71

150,531 125,700 21,801 (129,926) 21,801 (129,926) 172,332 (4,226) 170,542 (10,776) 1,790 6,550 172,332 (4,226) 72

141,976 1,133,443 1,963,797 15,277 3,254,493 237,385 3,491,878 119,150 119,150 6,550 125,700 (129,926) (129,926) (129,926) 119,150 (129,926) (10,776) 6,550 (4,226) 18(a) 819 (819) 18(b) 2,407 2,407 2,407 (11,668) (11,668) 26 (14,616) (14,616) (14,616) 141,976 1,136,669 2,067,512 (114,649) 3,231,508 232,267 3,463,775 141,976 1,136,669 2,067,512 (114,649) 3,231,508 232,267 3,463,775 9 3.1 (79,013) (79,013) (79,013) 141,976 1,136,669 1,988,499 (114,649) 3,152,495 232,267 3,384,762 148,741 148,741 1,790 150,531 21,801 21,801 21,801 148,741 21,801 170,542 1,790 172,332 18(a) 1,892 (1,892) 18(b) 1,066 1,066 1,066 22 (16,042) (16,042) (5,374) (5,374) 26 (14,734) (14,734) (14,734) 141,976 1,139,627 2,120,614 (92,848) 3,309,369 212,641 3,522,010 73

27(a) 585,408 314,400 (116,272) (58,430) 469,136 255,970 27(b) 11,790 38,151 6,413 (489,515) (233,215) 9 (33,043) (14,372) 22 7,909 30,381 (496,446) (179,055) 1,026,982 2,721,722 (527,571) (2,831,874) 3 (205,028) (225,362) 14(d) (3,830) 57,284 25,515 (24,210) 26 (19,481) (24,265) 296,587 (326,705) 269,277 (249,790) 3,447 (18,618) 389,014 657,422 661,738 389,014 74

1 Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands 2 2.1 622 5 (a) 9 15 2014-2016 2 22 9 15 3 75

2 2.1 (b) 16 23 28 2015-2017 1028 9 19 3 17 16 16 16 12 16 (C10) 76

2 2.1 (b) 80,381,00028 9,405,000 60,269,000 60,269,000 26,526,00026,526,000 16 16 2.2 2.2.1 (a) 77

2 2.2 2.2.1 (a) (b) (c) 78

2 2.2 2.2.2 2.3 20% 50% 2.5 79

2 2.4 11 11 2.5 2.5 2.11 2.6 80

2 2.7 (a) (b) (c) 81

2 2.7 (d) 2.8 5-40 3-25 3-10 3-10 5-10 82

2 2.8 2.11 2.9 2.11 2.10 (a) (b) 2 10 (c) 10 2.11 83

2 2.12 (a) (b) (c) 84

2 2.12 (c) 85

2 2.12 (d) 12 12 30 270 5 9 4.1(b) (e) FVPL i 12 86

2 2.12 (e) ii 12 87

2 2.12 (e) 2.13 2.14 2.12 2.15 2.16 2.17 88

2 2.18 2.19 12 2.20 89

2 2.21 (a) (b) (c) 90

2 2.22 (a) (b) 2.23 (a) 91

2 2.23 (b) 2.24 2.25 (a) 15 (i) (ii) 92

2 2.25 (a) (iii) (iv) (b) (i) (ii) 93

2 2.25 (b) (iii) 2.26 23 2.27 2.28 2.29 94

2 2.30 2.31 95

3 i 205,028,000 225,362,000 ii 915 3.1 3.2 3.3 9 15 180,815 20,280 201,095 (897) 89,718 88,821 2,093,884 (98,396) (89,718) 1,905,770 7,150,556 (79,013) 7,071,543 114,175 114,175 1,119,674 (114,175) 1,005,499 3,686,781 3,686,781 2,067,512 (79,013) 1,988,499 3.2 9 9 96

3 3.2 9 3.2.1 9 9 39 (44,164) (99,293) 9 (143,457) 3.2.2 2.12 4.1(b) 3.3 15 15 97

3 3.3 15 3.3.1 15 18 15 (i) 89,718 89,718 (i) 2,093,884 (89,718) 2,004,166 (ii) 114,175 114,175 (ii) 114,175 (114,175) 18 15 (i) (i) 2,084,897 2,084,897 (ii) 71,465 71,465 (ii) 71,465 (71,465) (i) (ii) 15 71,465,000 98

3 3.3 15 3.3.1 15 15 15 15 15121 1518 15 3.3.2 2.25 99

4 4.1 (a) (i) 10% 37,376,000 50,024,000 (ii) 14(d) 5% 351,000 271,000 (b) 100

4 4.1 (b) (i) * AA 159,262 99,927 * A 158,221 124,470 * A 107,511 34,055 ** BAA2 59,308 29,493 * B 40,637 46,534 NA 40,341 12,901 ** BAA2 35,143 6 ** BAA2 34,797 14,969 * BBB+ 32,182 31,631 Habib Bank Limited* B3 24,661 ** A2 21,847 18,697 * BBB 19,565 5,156 * A 12,503 11,967 12,075 443 10,906 30,135 * A+ 3,384 13,162 * BBB 276 13,136 * ** (ii) 101

4 4.1 (b) (iii) 9 60 GDP PPI 102

4 4.1 (b) (iii) 9 1.01% 1.96% 7.82% 23.33% 75.10% 7.75% 982,050 659,789 112,735 63,181 145,142 1,962,897 48,913 48,913 1,030,963 659,789 112,735 63,181 145,142 2,011,810 (9,908) (12,911) (8,816) (14,740) (109,006) (155,381) (494) (494) (10,402) (12,911) (8,816) (14,740) (109,006) (155,875) 897 897 (9,505) (12,911) (8,816) (14,740) (109,006) (154,978) 1.00% 1.94% 7.74% 23.10% 67.83% 7.43% 757,913 511,210 337,192 100,225 111,422 1,817,962 23,013 23,013 780,926 511,210 337,192 100,225 111,422 1,840,975 89,718 89,718 870,644 511,210 337,192 100,225 111,422 1,930,693 (7,579) (9,917) (26,099) (23,152) (75,583) (142,330) (230) (230) (7,809) (9,917) (26,099) (23,152) (75,583) (142,560) (897) (897) (8,706) (9,917) (26,099) (23,152) (75,583) (143,457) 103

4 4.1 (b) (iii) 39 (44,164) (897) (98,396) 9 (897) (142,560) (12,418) 897 (154,978) 5 104

4 4.1 (b) (iii) 9 12 (iv) 24,040,000 105

4 4.1 (c) 1 1 2 25 5 773,073 2,464,101 141,824 19,163 3,398,161 953,837 953,837 1,726,910 2,464,101 141,824 19,163 4,351,998 708,280 230,700 1,907,966 2,846,946 926,619 926,619 1,634,899 230,700 1,907,966 3,773,565 106

4 4.2 30% 40% 14(d) 3,070,615 2,449,452 14(c) (661,738) (389,014) 14(c) (184,479) (150,006) 14(a) (24,040) 2,224,398 1,886,392 3,522,010 3,463,775 5,746,408 5,350,167 38.71% 35.26% 30% 40% 107

4 4.3 1 24,040 24,040 (a) 108

4 4.3 (b) 24,040 24,260 (25,515) 1,475 (220) 24,040 1,475 (220) (220) 5 (a) 2.12 3.2 4.1(b)(iii) (b) 109

5 (c) (d) (e) 2.11 6 110

6 (a) 1,428,731 1,316,232 326,440 329,536 1,134,413 880,745 332,832 142,834 3,222,416 2,669,347 111

6 (b) 1,464,394 389,375 1,135,483 332,832 3,322,084 (35,663) (62,935) (1,070) (99,668) 1,428,731 326,440 1,134,413 332,832 3,222,416 1,135,258 71,942 216,604 1,423,804 293,473 254,498 917,809 332,832 1,798,612 1,428,731 326,440 1,134,413 332,832 3,222,416 478,288 110,752 416,723 14,919 1,020,682 280,531 46,236 278,834 5,926 611,527 (76,419) 535,108 9,105 (318,791) 7,121 232,543 82,156 21,695 104,163 63,997 272,011 1,196 904 2,100 2,570 225 156 977 3,928 125,007 21,650 442,244 588,901 112

6 (b) 2,944,139 736,757 2,754,301 1,425,270 7,860,467 39,230 7,899,697 (a) 3,461,992 271,262 620,220 24,213 4,377,687 (a) 310,000,000 250,000,000 113

6 (b) 1,384,078 382,700 880,745 142,834 2,790,357 (67,846) (53,164) (121,010) 1,316,232 329,536 880,745 142,834 2,669,347 423,813 80,407 311,784 29,597 845,601 85,928 14,166 180,866 1,452 282,412 (57,735) 224,677 138,722 (196,397) 4,611 171,613 81,446 16,844 110,084 57,361 265,735 1,223 904 2,127 905 201 112 977 2,195 120,347 9,480 61,135 41,793 232,755 3,066,416 489,163 2,190,411 1,348,937 7,094,927 55,629 7,150,556 3,198,553 140,982 305,390 41,856 3,686,781 114

6 (c) 918,137 908,926 873,600 799,886 615,405 427,483 399,308 239,731 279,867 238,222 133,218 53,916 2,881 1,183 3,222,416 2,669,347 1,797,890 1,905,547 514,985 106,093 412,852 409,885 339,551 270,128 250,747 239,324 240,729 254,024 3,556,754 3,185,001 115

6 (c) 399,820 (12,603) 85,248 52,110 50,452 81,836 38,946 26,145 10,620 82,492 3,815 2,775 588,901 232,755 (d) (i) 89,718 4.1(b) (897) 88,821 (iii) 52,825 19,084 19,084 (ii) 71,465 114,175 (i) 9 4.1(b) 116

6 (d) (ii) 58,538 1,344 59,882 (iii) 52,825 19,084 10,041 9,358 117

7 565,878 3,211,161 46,271 28,031 10,433 278,228 4,140,002 (129,978) (811,803) (30,195) (22,081) (6,201) (1,000,258) 435,900 2,399,358 16,076 5,950 4,232 278,228 3,139,744 435,900 2,399,358 16,076 5,950 4,232 278,228 3,139,744 5,693 280,551 158 320 (286,722) 5,248 40,307 2,524 1,503 164,437 214,019 (27) (16,284) (2,364) (212) (18,887) (a) (6,685) (6,685) 19 (23,495) (234,518) (4,330) (1,599) (1,793) (265,735) (3,171) (128,335) (155) (69) (22) (15,549) (147,301) 420,148 2,334,394 11,909 5,893 2,417 140,394 2,915,155 572,360 3,260,690 41,574 26,884 10,433 140,394 4,052,335 (152,212) (926,296) (29,665) (20,991) (8,016) (1,137,180) 420,148 2,334,394 11,909 5,893 2,417 140,394 2,915,155 420,148 2,334,394 11,909 5,893 2,417 140,394 2,915,155 22 50,989 71 204 (51,286) 12,280 420,609 2,744 2,297 117,928 555,858 (3,582) (32,093) (89) (110) (35,874) 19 (20,442) (243,068) (5,770) (1,492) (1,239) (272,011) (428) 100,324 (59) (20) 20 (1,948) 97,889 407,998 2,631,155 8,806 6,772 1,198 205,088 3,261,017 579,588 3,756,619 43,887 28,346 7,726 205,088 4,621,254 (171,590) (1,125,464) (35,081) (21,574) (6,528) (1,360,237) 407,998 2,631,155 8,806 6,772 1,198 205,088 3,261,017 118

7 (a) (b) 253,807 244,212 17,316 19,767 888 1,756 272,011 265,735 8 10 50 83,110 86,440 86,440 88,567 (1,230) 19 (2,100) (2,127) 83,110 86,440 119

9 (a) 165,322 7,388 10,394 183,104 (1,782) (5,644) (7,426) (2,097) (2,097) 165,322 3,509 4,750 173,581 165,322 3,509 4,750 173,581 16,741 1,995 18,736 19 (696) (1,499) (2,195) (6,619) (97) (6,716) 158,703 19,554 5,149 183,406 158,703 24,129 12,165 194,997 (2,478) (7,016) (9,494) (2,097) (2,097) 158,703 19,554 5,149 183,406 158,703 19,554 5,149 183,406 32,702 341 33,043 19 (2,070) (1,858) (3,928) (327) 396 37 106 158,376 50,582 3,669 212,627 158,376 56,767 11,886 227,029 (4,088) (8,217) (12,305) (2,097) (2,097) 158,376 50,582 3,669 212,627 120

9 (a) 158,376 158,703 5 5 3%3% 33% 32% 16% 16% (b) 3,167 1,510 761 685 3,928 2,195 121

10 (a) 39,230 31,032 (b) 24,597 39,230 55,629 7,296 4,610 (175) 1 7,121 4,611 (a) 31,032 33,019 7,296 4,610 4,368 (3,110) (3,466) (3,487) 39,230 31,032 122

10 (a) 20,000,000 30% 30% 15,000,000 30% 30% 18,000,000 22.95% 22.95% 60,037 20,807 39,230 45,397 7,296 85,581 54,549 31,032 58,482 4,610 123

10 (b) 24,597 24,596 22 (24,422) (175) 1 24,597 50,000,000 0% 49% (175) 25,748 1,151 24,597 1 22(b) 11 6(d) 52,825 19,084 4,419 2,376 57,244 21,460 124

12 12 54,809 34,870 12 156,539 145,945 211,348 180,815 12 (48,185) (42,902) (a) 62,448 6,107 2,701 73,610 5,395 936 151,197 24 29,527 2,282 (281) 5,107 607 37,242 91,975 8,389 2,420 78,717 5,395 1,543 188,439 9 3.1 20,280 20,280 91,975 28,669 2,420 78,717 5,395 1,543 208,719 24 28,295 932 641 (7,828) (56) 21,984 120,270 29,601 3,061 70,889 5,395 1,487 230,703 (a) 1,795,0006,102,00070,323,000 100,675,00045,551,0004,813,00036,175,000 283,535,000 194,071,000 161,825,000 125

12 (38,311) (3,381) (4,516) (5,904) (52,112) 24 2,216 49 (1,209) 1,056 311 219 530 (36,095) (3,381) (4,156) (6,894) (50,526) 24 (1,219) 20 (15,706) (16,905) 699 (808) (109) (37,314) (3,381) (3,437) (23,408) (67,540) 13 521,916 416,792 77,506 74,968 278,087 346,505 722 877 10,907 9,558 889,138 848,700 1,289,662,000 1,069,930,000 4,794,000 4,794,000 126

14 (a) 24,040 (b) 2,084,897 2,093,884 (c) 661,738 389,014 (c) 184,479 150,006 2,931,114 2,656,944 (d) 3,070,615 2,449,452 (e) 1,099,189 1,005,499 4,169,804 3,454,951 (a) 24,040 14(d) 22 127

14 (b) (i) 48,913 23,013 (i) 1,962,897 1,907,681 29(c) 4,039 5,925 1,958,858 1,901,756 (ii) (154,978) (44,164) 1,807,919 1,863,517 (iii) 226,029 202,317 29(c) 2,036 5,037 2,084,897 2,093,884 1,102,254 990,387 750,770 806,109 166,476 178,375 23,561 19,531 209 1,733 12,869 33,783 10,783 21,370 10,755 27,591 3,845 11,731 3,375 3,274 2,084,897 2,093,884 128

14 (b) (i) 180 90 1,015,844 814,464 90 180 216,567 195,656 180 360 377,399 332,458 360 720 144,381 266,502 720 208,706 298,601 1,962,897 1,907,681 (ii) 4.1 (143,457) (33,511) 19 (12,418) (10,653) 897 (154,978) (44,164) (iii) 29(c) 133,866 107,262 42,990 32,738 29,546 28,010 1,167 2,579 18,460 31,728 226,029 202,317 129

14 (c) (i) 846,217 539,020 (ii) (184,479) (150,006) 661,738 389,014 (i) (ii) 14(d) 490,370 186,030 252,241 216,038 40,237 77,612 25,757 33,382 13,386 4,559 10,955 4,236 4,411 1,769 4,309 10,524 2,253 1,982 2,298 2,888 846,217 539,020 139,963 100,839 39,837 47,607 3,269 45 1,352 1,515 58 184,479 150,006 130

14 (d) (i) 480,527 355,261 16,780 660 (ii) 2,106,656 1,602,591 (i) (109,290) (53,072) 2,494,673 1,905,440 (i) 97,185 149,575 369,467 341,365 (i) 109,290 53,072 575,942 544,012 3,070,615 2,449,452 (i) 217,185,160 108,665,00049,590,000 14(c) 45,760,000 400,000,000 385,000,000 77,000,000 36,000,000 SINO SURE 2,900 3,200,000 20,000,000 131

14 (d) (ii) 250,000,00099.339% 7.25% 60,000,000 7.25% 2,351,634 1,705,827 67,467 64,365 47,084 604,430 679,260 3,070,615 2,449,452 6 6 12 1 5 300,269 271,768 2,498,578 3,070,615 370,684 173,745 1,905,023 2,449,452 1 575,942 544,012 12 2,353,164 92,387 25 123,272 1,813,053 5 18,237 3,070,615 2,449,452 132

14 (d) 4.81% 4.76% 3.11% 5.61% 1.38% 3.44% 5.98% 6.24% 5.89% 8.10% 8.19% 2,106,656 1,891,642 164,374 126,459 192,307 198,616 356,681 325,075 133

14 (e) 206,909 165,683 674,093 675,919 658,109 645,654 29(c) 15,984 30,265 53,244 70,836 29(c) (i) 19,031 36,021 (ii) 34,213 34,815 44,168 32,843 7,026 5,362 94,158 40,675 4,109 3,482 15,482 10,699 1,099,189 1,005,499 (i) 938,00029(c) (ii) Kamelon LLC 200,000 134

14 (e) (ii) 945,746 850,744 46,522 85,468 19,366 9,159 24,522 22,950 8,648 13,921 28,647 12,872 8,660 3,921 1,346 2,983 1,249 2,497 3,054 2,485 7,140 961 1,083 443 93 10 198 1,099,189 1,005,499 (iii) 90 458,889 474,009 90 180 170,886 176,756 180 360 28,656 11,500 360 720 12,812 8,978 720 2,850 4,676 674,093 675,919 135

15 176,959 166,312 16 23,776 5,817 14,535 15,966 38,311 21,783 8,691 5,772 114 74 8,805 5,846 47,116 27,629 17 1,696,438,600 169,643,860 141,975,506 136

18 100,653 (141,929) 45,322 1,172,248 702 (43,553) 1,133,443 (a) 819 819 (b) 2,407 2,407 101,472 (141,929) 47,729 1,172,248 702 (43,553) 1,136,669 101,472 (141,929) 47,729 1,172,248 702 (43,553) 1,136,669 (a) 1,892 1,892 (b) 1,066 1,066 103,364 (141,929) 48,795 1,172,248 702 (43,553) 1,139,627 (a) 10%50% 25% 1,892,000 819,000 (b) 5% 19,980,000 137

18 (b) (i) 2.60 29,564,300 29,174,300 2.60 2.60 390,000 2.60 29,564,300 29,564,300 2.60 2,176,900 2,176,900 2.60 6,426,800 6,426,800 2.60 6,973,000 6,973,000 2.60 6,985,800 6,985,800 2.60 7,001,800 7,001,800 29,564,300 29,564,300 32,804 138

18 (b) (i) 2.60 2.11 2.60 2.11 55.98% 10.00 2.80% 2.00% 1.30 (ii) 5.93 17,221,200 17,221,200 5.93 5.93 17,221,200 17,221,200 5.93 3,444,240 3,444,240 5.93 3,444,240 3,444,240 5.93 3,444,240 3,444,240 5.93 3,444,240 3,444,240 5.93 3,444,240 3,444,240 17,221,200 17,221,200 17,221,200 17,221,20013,776,960 10,332,720 139

18 (b) (ii) 29,009 5.64 4.43 5.93 4.66 55.79% 10.00 2.20% 2.68% 1.58 873 1,944 190 442 3 21 1,066 2,407 140

19 13 65,880 (51,320) 13 1,223,782 1,121,250 20 565,034 490,388 7 272,011 265,735 136,229 132,320 122,110 70,404 61,622 49,018 49,967 38,848 53,390 46,861 36,057 33,970 31,911 19,901 29,229 40,521 16,908 16,830 14,319 21,320 12,917 9,743 14(b) 12,418 10,653 12,368 9,001 7,550 7,895 5,405 4,801 3,700 3,500 1,705 1,301 9 3,928 2,195 8 2,100 2,127 9,054 7,359 2,744,189 2,349,820 141

20 456,075 395,564 107,893 92,417 18(b)(i), (ii) 1,066 2,407 565,034 490,388 (a) 2,340 2,223 1,463 1,513 288 242 18(b) 39 85 4,130 4,063 1,500,000 1,500,001 2,000,000 3 3 2,000,001 2,500,000 2,500,001 3,000,000 3 3 142

21 (a) 706 741 65 1,512 779 597 99 1,475 205 1,003 54 1,262 610 78 688 205 205 227 227 205 205 205 205 205 205 205 205 1,457 3,152 1,338 242 6,189 143

21 (a) 706 751 64 1,521 728 548 67 1,343 156 235 391 772 49 75 896 193 193 260 260 193 193 Lee Siang Chin* 32 32 193 193 ** 156 156 *** 87 87 1,077 2,634 1,348 206 5,265 * ** *** (b) 144

22 8,941 10,556 (a) 2,910 8,095 (b) 113 (14,310) (1,193) 62,862 (114,239) (3,635) 1,931 56,881 (94,850) (a) 100% 24,727,6223,446,597 15,727,6229,000,000 51%16,160,000 536,12520188,240,000 7,920,000 (b) 10 113,200 23 7,630 15,004 122,571 1,475 1,147 9,105 138,722 (217,459) (196,177) 4,996 (220) (106,328) (318,791) (196,397) (309,686) (57,675) 145

24 108,050 84,211 12 (26,038) (38,298) 82,012 45,913 232,543 171,613 51,228 29,889 5,057 1,775 (b) (8,242) (6,728) (12,957) (5,216) 46,926 26,193 82,012 45,913 16.5% 15% 35%15% 34% 25% 146

24 15% 24(a) 10% 5% 5% 6,437,000 9,993,0001,473,060,000 1,344,320,00073,653,000 67,216,000 (a) * 15% 15% * 15% 15% * 15% 15% * 15% 15% * 15% 15% * 15% 15% * 15% 15% * 15% 25% * 15% 25% * 15% * 15% 147

24 (a) * 15% * 15% * 15% * 15% * 15% * 15% * 15% (b) 75% 25 148,741 119,150 1,696,439 1,696,439 0.0877 0.0702 148

25 29,564,300 29,564,30018(b)(i) 17,221,200 17,221,20018(b)(ii) 26 0.01000.0088 16,964,00014,9280,000 0.0100 0.008716,964,000 14,734,000 0.0100 0.008616,964,000 14,616,000 149

27 (a) 232,543 171,613 7 272,011 265,735 8 2,100 2,127 9 3,928 2,195 11 12,917 9,743 14(b)(ii) 12,418 10,653 10 (7,121) (4,611) 22 (3,023) (8,095) 23 317,316 72,679 22 14,310 1,193 18(b) 1,066 2,407 858,465 525,639 (87,746) (295,808) (187,564) (125,188) (30,643) (52,254) 19,487 (9,040) 13,409 271,051 (273,057) (211,239) 585,408 314,400 150

27 (b) 7 35,874 18,887 22 (14,310) (1,193) 21,564 17,694 2,447 8,351 (i) 19,117 9,343 21,564 17,694 (i) 9,343,000 (c) 14(c) 661,738 389,014 14(c) 184,479 150,006 14(a) 24,040 14(d) (575,942) (544,012) 14(d) (2,494,673) (1,905,440) (2,224,398) (1,886,392) 846,217 563,060 (2,706,930) (2,255,513) (363,685) (193,939) (2,224,398) (1,886,392) 151

27 (c) 389,014 24,040 (544,012) (1,905,440) (2,036,398) 269,277 (25,515) (26,594) (472,817) (255,649) 3,447 (3,770) (106,005) (106,328) 437 13,340 13,777 (2,003) (23,751) (25,754) 1,475 1,475 661,738 (575,942) (2,494,673) (2,408,877) 28 (a) 294,039 (b) 32,865 36,295 30,262 59,999 17,254 14,344 80,381 110,638 152

29 Hilong Group LimitedHilong Group Limited 51.97%51.97% (a) (i) (ii) (iii) Hilong Group Limited (iv) (v) * (vi) 30 * 10 22 153

29 (b) 21,880 1,308 15,685 33,094 11,023 700 48,588 35,102 8,956 8,776 10,820 9,920 2,835 1,129 13,655 11,049 1,238 22 8,095 154

29 (c) 1,805 4,612 2,234 1,313 4,039 5,925 52,484 19,786 44,621 48,485 24,609 24,192 7,112 4,377 3,525 6,525 Hilong Group Limited 1,515 1,515 2,382 133,866 107,262 15,984 30,265 10,355 4,242 3,964 1,129 3,774 29,712 938 938 19,031 36,021 2,036 1,550 3,487 2,036 5,037 155

29 (d) 8,485 8,675 4,662 4,383 881 775 39 85 14,067 13,918 30 (%) Hilong Energy Holding Limited 100% 100% 26,000,000 51% 51% 2,960,000 38.09% 38.09% 150,000,000 100% 100% 3,600,000 100% 100% 50,000,000 100% 100% 156

30 (%) 3,000,000 100% 100% Hilong Investment Ltd. 100 100% 100% 5,000,000 100% 100% Hilong Petroleum Pipe Company LLC 1,000,000 100% 100% 50,000,000 100% 100% Hilong Petroleum Technology & Engineering Co., Ltd. 110,000 100% 100% Hilong Petropipe Co., Ltd. 100 100% 100% 105,880,000 95% 95% 20,000,000 45.4% 45.4% 157

30 (%) 1 100% 100% 80,000,000 100% 100% Hilong USA LLC 1,030,000 100% 100% 120,000,000 100% 100% 10,000,000 55% 55% Hilong Oil Service Ltd. 5,000,000 100% 100% Hilong Oil Service & Engineering Ecuador CIA. Ltd. 20,000,000 100% 100% 20,000,000 100% 100% 6,000,000 100% 100% 20,000,000 51% 51% 100% 100% 30,000,000 158

30 (%) 15,000,000 100% 100% Hilong Oil Service Sucursal Colombia Ltd. 90,734,500 100% 100% 10,000,000 100% 100% Trade House Hilong-Rus Co. Ltd. 300,000 100% 100% Hilong Oil Service & Engineering Pakistan (Pvt.) Ltd. 5,000,000 100% 100% 50,000,000 100% 100% 1,000,000 100% 100% 1,000,000 100% 100% Hilong USA Holding Corp. 10 100% 100% Texas Internal Pipe Coating, LLC 100% 100% Hilong TIPC Asset Management LLC 100% 100% 159

30 (%) 60,000,000 100% 100% 5,000,000 80% 80% Technomash LLC 62,332,000 100% 100% 80,000,000 100% 100% Hilong Drilling & Engineering Service Ltd (Malaysia) 1,000 100% 100% Hilong Oil Service & Engineering Albania SHPK 3,000,000 100% 100% 50,000,000 100% 100% 15,000,000 100% 100% Hilong Petroleum Technical Services Nigeria Limited 5,000,000 100% 100% Hilong Oil Service & Engineering Perú S.A.C. 3,000 100% 100% 160

30 Hilong Oil Service DMCC (%) 160,000 100% 100% Hilong Petroleum Pipeline Service (Surgut) 1,000,000 100% 100% 2,000,000 100% 100% Well X, Inc (US) 65,000 62.50% 62.50% 17,400,000 100% 100% Hilong Offshore (M) SDN.BHD 100 100% 100% OHJV.SDN.BHD 1,000 100% 100% Hilong Oriente Co. Ltd 2,000 100% 100% West Texas Internal Pipe Coating 100% 100% West Texas Internal Pipe Asset management LLC 100% 100% 900,000 100% Hilong Petroleum Pipe Service (Orenburg) Limited Liability Company 10,000 100% * * * 161

31 0.01000.0088 26 32 3 33 54,221 53,155 3,996,654 4,399,767 4,206 8,867 4,000,860 4,408,634 4,055,081 4,461,789 141,976 141,976 (a) 1,221,745 1,220,679 (a) 19,386 19,201 1,383,107 1,381,856 2,316,842 1,905,022 195,420 1,057,715 159,712 117,196 355,132 1,174,911 2,671,974 3,079,933 4,055,081 4,461,789 162

33 (a) 21,280 1,218,272 12,537 (14,616) 2,407 19,201 1,220,679 19,201 1,220,679 14,919 (14,734) 1,066 19,386 1,221,745 34 163

3,222,416 2,669,347 1,929,037 2,484,329 2,575,986 1,020,682 845,601 666,794 809,906 1,020,579 31.7% 31.7% 34.6% 32.6% 39.6% 535,108 224,677 492,461 424,521 535,792 16.6% 8.4% 25.5% 17.1% 20.8% 150,531 125,700 127,909 174,111 415,174 148,741 119,150 124,611 160,893 397,692 1,790 6,550 3,298 13,218 17,482 3,864,576 3,442,905 3,607,018 3,476,766 3,275,391 4,035,121 3,707,651 3,691,156 3,587,633 3,351,624 7,899,697 7,150,556 7,298,174 7,064,339 6,627,015 3,522,010 3,463,775 3,491,878 3,256,136 3,143,249 2,581,169 1,970,125 1,397,346 1,152,828 1,700,393 1,796,518 1,716,656 2,408,950 2,655,435 1,783,373 4,377,687 3,686,781 3,806,296 3,808,263 3,483,766 7,899,697 7,150,556 7,298,174 7,064,339 6,627,015 164