( 於開曼群島註冊成立的有限公司 ) ( 股份代號 : 1880)

( 於開曼群島註冊成立的有限公司 ) ( 股份代號 : 1880)

I 2-3 II 4 III 5 IV CEO 6-15 V 16-19 VI 20-29 VII 30-34 VIII 35-37 IX 38-39 X 40 XI 41-42 XII 43 XIII 44 XIV 45 XV 46-110

, FCPA Offshore Incorporation (Cayman) Limited Scotia Centre, 4/F P.O. Box 2804, George Town Grand Cayman Cayman Islands 39 20 1880 www.belleintl.com 38 2

4 22 22 183 17 1712-1716 Butterfield Fund Services (Cayman) Limited Butterfield House 68 Fort Street P.O. Box 705 Grand Cayman KY1-1107 Cayman Islands 3 2008

12 31 2008 2007 17,855,785 11,671,858 2,279,303 1,754,915 1 257,558 43,197 2 2,010,435 1,979,106 % 51.7 50.6 % 12.8 15.0 % 11.2 17.0 23.82 25.03 23.82 25.03 3.00 3.00 3.50 3.50 12 31 2008 2007 % 3.0 1.5 3.0 6.9 33.4 34.9 44.1 33.7 138.1 121.8 1. 2006 2007 2008 2010 2008 18%9% 25% 2. 364.2 2,010.4 1.6% 4

2008 2008 2008 2008 12 31 53.0% 29.9%3,241 2008 12 31 9,384215 2009 3 24 5 2008

2008 53.0 17,855.8 9,663.78,192.1 54.145.9 2008 2008 2008 2009 2008 2008 2008 53.0%17,855.8 29.9%2,279.3 2,010.4 1.6% 23.823.5 32008 10 21 6.52007 6.5 6

Belle Staccato Tata Teenmix Fato JipiJapa Millie s Senda Basto Joy & Peace MirabellBata BCBG Elle Scholl Fiorucci Clarks Mephisto Merrell Sebago Caterpillar Geox Nike Adidas Reebok PUMA Mizuno Converse LiNing Kappa Nike Adidas Fila 7 2008

OEM 12 31 2008 2007 % % 8,826.4 91.4% 5,870.4 94.7% 50.4% 697.4 7.2% 151.8 2.4% 359.4% 9,523.8 98.6% 6,022.2 97.1% 58.1% OEM 139.9 1.4% 179.7 2.9% -22.1% 9,663.7 100.0% 6,201.9 100.0% 55.8% * Joy & Peace ** 12 31 2008 2007 % % # 6,713.0 82.0% 4,731.5 86.5% 41.9% # 1,409.9 17.2% 684.7 12.5% 105.9% 69.2 0.8% 53.8 1.0% 28.6% 8,192.1 100.0% 5,470.0 100.0% 49.8% # Nike Adidas Fila Reebok PUMA Kappa Mizuno Converse LiNing 8

2008 12 31 9 2008

2008 12 31 957 171 1,128 392 135 527 1,655 980 106 1,086 270 89 23 382 1,468 * 859 77 936 234 133 367 1,303 644 60 704 272 185 457 1,161 389 21 410 270 240 510 920 423 45 468 118 113 231 699 367 25 392 116 109 225 617 391 23 414 158 18 176 590 249 17 266 114 130 244 510 * 231 15 246 246 5,490 560 6,050 1,944 1,152 23 3,119 9,169 * ** Joy & Peace *** 215 10

2008 GDP 9% 2008 2008 11 2008

2008 GDP2009 2% 2008 2008 45.9%2007 48.3% Senda Basto Senda Basto 17.2%200712.5% 17.9% 12

20082007 2006 2007 2008 2009 2010 2008 2009 2010 18% 20% 22% 9% 10% 11% 25% 2006 200733%15% 25% 2008 25% 2008 2008 Senda Basto 13 2008

2009 2009 2008 20092009 2009 2009Senda Basto Millie's Mirabell 2008 Senda 14

CEO 2009 3 24 15 2008

2008 12 3117,855.8 2,279.353.0% 29.9% 364.2 2,010.4 1.6% 2008 2007 11,671.953.0%17,855.8 2007 6,201.9 5,470.0 3,461.8 2,722.1 2008 9,663.7 8,192.1 12 31 2008 2007 % % (a) 8,826.4 49.4% 5,870.4 50.3% 50.4% 697.4 3.9% 151.8 1.3% 359.4% OEM 139.9 0.8% 179.7 1.5% -22.1% 9,663.7 54.1% 6,201.9 53.1% 55.8% (b) 6,713.0 37.6% 4,731.5 40.5% 41.9% 1,409.9 7.9% 684.7 5.9% 105.9% 69.2 0.4% 53.8 0.5% 28.6% 8,192.1 45.9% 5,470.0 46.9% 49.8% 17,855.8 100.0% 11,671.9 100.0% 53.0% (a) Joy & Peace (b) Nike Adidas Fila Reebok PUMA Kappa Mizuno Converse LiNing 16

29.9%2,279.3 364.2 1.6%2,010.4 2008 2007 % % 9,663.7 8,192.1 6,201.9 5,470.0 55.8 49.8 (3,394.1) (5,233.3) (2,244.5) (3,524.9) 51.2 48.5 6,269.6 2,958.8 3,957.4 1,945.1 58.4 52.1 (%) 64.9 36.1 63.8 35.6 2007 5,769.449.5% 2008 8,627.4 2007 5,902.556.3% 2008 9,228.4 2007 3,957.458.4% 2008 6,269.6 2007 1,945.152.1% 2008 2,958.8 64.9% 36.1% 200750.6%200851.7% 2008 5,676.52007 3,366.4 2008 1,359.62007 819.9 2007 28.8% 7.0% 31.8% 7.6% 502.272.6 364.2 17 2008

2008 12 315.75%61.5 2007 7 200838.1 2008 12 31 72.6 29.7 81.0 2008 257.62007 43.2 2006 2007 2008 2010 2008 18% 2008 9% 25% 2008 12 31 2007 12 31 5,213.2 55.4% 2008 12 31 2,326.6 2008 12 31 6,412.0 2007 12 31 22.2% 2,868.4 2008 12 31 3.02007 12 316.93.0% 2007 12 311.5%2008 12 31 2007 12 31 200.0 151.7%503.4 2,461.2 337.9 628.4% 2008 12 31 4,923.72007 2,452.9 2,868.4 1,077.0 371.9 240.0 401.0 245.820077,240.6 2007295.42008253.2 312.6 18

2008 12 31 2007 292.2 2008 12 31 2007 5 23 1,370,733,000 8,014.62008 12 31 2,102.8 1,695.8 1,221.0 1,200.0 230.6 95.3 2008 12 31 2008 12 31 70,6352007 12 3148,495 19 2008

2008 12 31 40 5 2008 12 31 40 110 2008 9 103 253,240,000 2008 10 21 2008 12 31 3.5 3.97 295,198,000 1.000.88199 2009 5 15 2009 5 262009 5 15 2009 5 13 2009 5 15 2009 5 12 183 17 1712-1716 20

2008 12 31 10,380,802,0002007 9,920,155,00033 34 30% 56.7% 27.6% 5% ) 1,077.02007 878.3 16 40.3 35.5 7,100,00033 21 2008

87 35 37 2009 4 15 2007 4 27 2007 5 1 22

2007 4 272007 5 1 2008 12 31 352 10 XV 1 2 2,865,625,000 (L) 33.98% 3 183,169,000 (L) 2.17% 4 337,500,000 (L) 4.00% 5 694,675,000 (L) 8.24% 6 25,000,000 (L) 0.30% 75,000,000 (L) 0.89% 23 2008

(1) L (2) 0.01Profit Leader Holdings LimitedProfit Leader Merry Century Investments LimitedMerry Century Merry Century Profit Leader51.1% Golden Coral Holdings LimitedGolden CoralProfit Leader 38.9% (3) Profit Discovery Limited Profit Discovery Profit Discovery (4) High Summit Group Limited High Summit High Summit (5) Handy LimitedHandyHandy 56.4% (6) Best Castle Group LimitedBest CastleBest Castle 352 24

2008 12 31 336 1 Handy 694,675,000 (L) 8.24% Essen Worldwide Limited 689,700,000 (L) 8.18% Profit Leader 2,865,625,000 (L) 33.98% Merry Century 2 2,865,625,000 (L) 33.98% Golden Coral 2 2,865,625,000 (L) 33.98% 2 2,865,625,000 (L) 33.98% JPMorgan Chase & Co. 3 586,134,311 (L) 6.95% 1,325,000 (S) 0.02% 121,151,826 (P) 1.44% 2008 12 31 XV2 3 336 (1) L S P (2) Profit LeaderMerry Century Merry Century Profit Leader51.1% Golden CoralProfit Leader 38.9% (3) JPMorgan Chase & Co. 4,743,404 460,239,081 121,151,826JPMorgan Chase Co. JPMorgan Chase Bank, N.A. 123,854,826JF Asset Management Limited319,121,081J.P. Morgan Whitefriars Inc.4,743,404 J.P. Morgan Investment Management Inc.11,128,000JF Asset Management (Singapore) Limited 63,146,000JPMorgan Asset Management (UK) Limited25,244,000JF Asset Management (Taiwan) Limited 17,877,000China International Fund Management Ltd21,020,000JPMorgan Chase & Co. JPMorgan Chare & Co.1,325,000 J.P. Morgan Structured Products B.V. J.P. Morgan Structured Products B.V. JPMorgan Chase & Co. 25 2008

2007 4 27 (i) (ii) (i) (ii) (iii) (iv) (v) 10 10% 2008 12 312008 12 31 2008 12 31 32 36(a)(iii) 14A : 26

2008 2 22Mirabell International Holdings Limited 2008 2 28 Tang's Enterprises Limited Rich Land Property Limited Kinlington Agents Limited Mosman Associates Limited 164,925,000 62.87% 2008 2 28 2008 5 15 6.00 164,925,000989,550,000 2008 5 23 2008 9 18 39(b) 14A : 50% 14A.11(4)14A.11(4) 14A.11(4) 14A 2008 5 15 2008 5 15 27 2008

2007 4 30 Joy & Peace2007 5 1 5,0002008 1 12008 5 15 2,870,000 Full Prospect LimitedFull Prospect85% Fila Luxembourg S.a.r.lFila Full Prospect 15 B Full Prospect15% Fila Korea LimitedFila Fila Fila Sport LimitedFila Fila Fila Fila Marketing (Hong Kong) Limited Speed Benefit Limited 2007 12 23Fila Fila Fila Fila Fila Fila 2008 12 31Fila Fila Fila15,815,000 39(a) (c) (1) (2) (3) 28

2008 2007 2006 2005 2004 17,855,785 11,671,858 6,238,560 1,731,833 870,508 9,228,413 5,902,466 3,500,745 957,145 211,966 51.68% 50.57% 56.11% 55.27% 24.35% 2,279,303 1,754,915 1,024,621 292,288 99,486 12.77% 15.04% 16.42% 16.88% 11.43% 2,010,435 1,979,106 976,569 234,865 75,056 2,984,605 5,213,167 302,095 235,904 63,147 503,448 200,000 819,182 155,238 145,095 17,022,559 13,539,243 4,445,172 1,600,641 636,551 3,591,208 1,502,882 1,811,208 773,469 345,122 13,431,351 12,036,361 2,633,964 827,172 291,429 14 3.13 2009 3 24 29 2008

2008 12 31 14 30

4/4 4/4 1/1 4/4 4/4 # 4/4 # 4/4 * 4/4 4/4 * 3/4 3/4 1/1 * 3/4 3/4 1/1 # * 3.13 3537 31 2008

2009 4 15 87 3.2114C.32007 4 27 2008 32

14B.12007 4 27 2008 2008 3839 2008 12 31 33 2008

2008 8.0 3.4 0.1 11.5 10 34

74 31 (1970) 2004 11 Profit Leader Holdings Limited Profit Discovery Limited High Summit Group Limited Profit Leader Holdings Limited Profit Discovery Limited High Summit Group Limited 56 1991 20 Handy Limited Best Castle Group Limited 56.4% Handy Limited Best Castle Group Limited 50 2005 14 39 1998 11 1970 352006 8 Donaldson, Lufkin & Jenrett s 35 2008

38 2005 9CDH China Growth Capital Fund II L.P. CDH China Growth Capital Management Company Limited 502006 10 21 20012003 48 2006 10 PuraPharm Corporation Limited 1982 56 2006 10 199619931999 199920031982 19841988 36

431993 14 51 1995 19972005 44 2004 9 19 1 2008 12 31 XV 2 (a) (b) 3 87 4 2009 4 15 37 2008

40 110 2008 12 31 38

2008 12 31 2009 3 24 39 2008

2008 12 31 12 31 2008 2007 5 17,855,785 11,671,858 (8,627,372) (5,769,392) 9,228,413 5,902,466 (5,676,469) (3,366,380) (1,359,603) (819,941) 6 18,231 10,008 7 68,731 83,390 (54,628) 8 2,279,303 1,754,915 72,552 502,235 (91,260) (235,333) 9 (18,708) 266,902 ----------------------- ----------------------- 2,260,595 2,021,817 10 (257,558) (43,197) 11 2,003,037 1,978,620 2,010,435 1,979,106 (7,398) (486) 2,003,037 1,978,620 12 23.82 25.03 23.82 25.03 13 548,438 548,687 46 110 40

2008 12 31 12 31 2008 2007 16 2,225,763 1,113,312 17 1,437,124 549,703 18 22,458 24,382 19 3,360,271 1,114,102 21 240,977 1,053,055 22 78,707 37,493 7,365,300 3,892,047 ------------------ ------------------ 23 4,228,964 2,281,651 24 1,864,861 1,395,111 578,829 317,899 25 396,703 26 42,665 27 249,333 28 408,676 29 2,326,596 5,213,167 9,657,259 9,647,196 ------------------ ------------------ 17,022,559 13,539,243 46 110 41 2008

2008 12 31 12 31 2008 2007 33 83,056 83,126 9,214,078 9,249,510 34 4,077,094 2,640,794 13,374,228 11,973,430 57,123 62,931 13,431,351 12,036,361 ------------------ ------------------ 22 296,313 52,322 49,676 47,293 345,989 99,615 ------------------ ------------------ 30 1,459,169 617,834 31 980,246 505,769 32 503,448 200,000 302,356 79,664 3,245,219 1,403,267 ------------------ ------------------ 3,591,208 1,502,882 ------------------ ------------------ 17,022,559 13,539,243 6,412,040 8,243,929 13,777,340 12,135,976 46 110 42

2008 12 31 12 31 2008 2007 20 9,543,082 ------------------ 5,157,483 ------------------ 20 1,420,127 4,845,182 559 608 29 778 213 1,421,464 4,846,003 ------------------ ------------------ 10,964,546 10,003,486 33 83,056 83,126 33 9,331,889 9,367,321 34 1,048,983 552,834 10,463,928 10,003,281 ------------------ ------------------ 20 498,997 31 1,621 205 500,618 205 ------------------ ------------------ 10,964,546 10,003,486 920,846 4,845,798 10,463,928 10,003,281 46 110 43 2008

2008 12 31 33 34(b) 34(c) 83,126 --------------- 9,249,510 --------------- 3,531 --------------- 37,306 --------------- --------------- (420 ) 2,600,377 --------------- --------------- 11,973,430 --------------- 62,931 --------------- 12,036,361 --------------- (25,448 ) (25,448 ) (25,448 ) (25,448 ) (25,448 ) (25,448 ) 2,010,435 2,010,435 (7,398 ) 2,003,037 (25,448 ) 2,010,435 1,984,987 (7,398 ) 1,977,589 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- 1,590 1,590 (70 ) (35,432 ) 70 (70 ) (35,502 ) (35,502 ) (548,687 ) (548,687 ) (548,687 ) (70 ) (35,432 ) 70 (548,757 ) (584,189 ) 1,590 (582,599 ) --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- 83,056 9,214,078 3,531 37,306 70 (25,868 ) 4,062,055 13,374,228 57,123 13,431,351 2007 12 31 2007 1 1 3 --------------- 1,318,078 --------------- 3,531 --------------- 19,068 --------------- --------------- 534 --------------- 1,292,750 --------------- 2,633,964 --------------- --------------- 2,633,964 --------------- (954 ) (954 ) (954 ) (954 ) (954 ) (954 ) () 1,979,106 1,979,106 (486 ) 1,978,620 () (954 ) 1,979,106 1,978,152 (486 ) 1,977,666 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- 18,238 (18,238 ) 69,763 (69,763 ) 13,360 8,269,822 8,283,182 8,283,182 (268,627 ) (268,627 ) (268,627 ) 63,417 63,417 (653,241 ) (653,241 ) (653,241 ) 83,123 7,931,432 18,238 (671,479 ) 7,361,314 63,417 7,424,731 --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- 2007 12 31 83,126 9,249,510 3,531 37,306 (420 ) 2,600,377 11,973,430 62,931 12,036,361 46 110 44

2008 12 31 12 31 2008 2007 35(a) 2,461,181 337,854 (2,272) (2,573) (97,531) (42,064) (832) (520) 2,360,546 292,697 ------------------ ------------------ (1,077,011) (878,276) (371,906) (298,534) (14,231) 35(b) 7,080 2,948 36(c) (2,868,436) (360,247) 21 (904,552) (1,000,000) 1,027,547 (769,657) 529,657 (400,966) (4,923,692) (2,452,892) ------------------ ------------------ 8,014,555 (548,687) (653,241) 55,509 502,235 (29,736) (27,299) 3,195,505 1,985,762 (2,882,882) (2,581,448) (35,502) ( (245,793) 7,240,564 ------------------ ------------------ ( (2,808,939) 5,080,369 5,213,167 302,095 (77,632) (169,297) 29 2,326,596 5,213,167 46 110 45 2008

1 2004 5 192219613 Scotia Centre, 4th Floor, P.O. Box 2804, George Town, Grand Cayman, Cayman Islands 2009 3 24 2 4 2008 1 1 39 7 11 12 14 2 19 46

47 2008 2 2008 1 2009 1 1 1 27 2009 1 1 2 2009 1 1 3 2009 7 1 7 2009 1 1 8 2009 1 1 1 2009 1 1 23 2009 1 1 27 2009 7 1 32 2009 1 1 1 39 2009 7 1 2009 6 30 9 39 2008 7 1 13 2009 1 1 15 2008 10 1 16 17 2009 7 1 2009 7 1 18 327 2010 1 1

2 12 31 48

2 (i) (ii) (iii) 49 2008

2 20 40 1-5 10 3 5 5 2.5 50

2 3540 3070 113 51 2008

2 1040 5 5 52

2 12 12 53 2008

2 54

2 12 55 2008

2 12 56

2 (i) (ii) (a) (b) (c) (d) 57 2008

3 2008 12 31 5% 18,595,0002007153,411,000 27 29 32 58

3 30 30 20082007 12 3127 29 59 2008

3 1 1 5 5 2008 12 31 1,459,169 1,459,169 980,246 980,246 20,057 99,054 119,111 507,341 507,341 2,946,756 20,057 99,054 3,065,867 1 1 5 5 2007 12 31 617,834 617,834 506,034 506,034 17,459 109,116 126,575 203,718 203,718 1,327,586 17,459 109,116 1,454,161 12 60

3 61 2008

3 20082007 12 31 2008 2007 503,448 200,000 (2,984,605) (5,213,167) (2,481,157) (5,013,167) 13,431,351 12,036,361 10,950,194 7,023,194 (0.23) (0.71) 2008 12 31 4 62

4 19 (i) (ii) (iii) 63 2008

5 17,841,153,0002007 11,659,163,000 64

5 2008 12 31 9,669,208 8,177,467 (5,522) 17,841,153 14,632 14,632 9,669,208 8,192,099 (5,522) 17,855,785 2,008,015 378,372 2,386,387 75,324 (59,466) (51,142) (110,608) (71,800) 2,279,303 72,552 (91,260) 2,260,595 (257,558) 2,003,037 755,312 418,907 1,174,219 274,698 249,056 258,503 507,559 2,314 17,685 5,439 23,124 5,645 59,466 51,142 110,608 979 36,117 4,277 40,394 1,195 7 1,202 65 2008

5 2008 12 31 7,933,394 6,945,568 (2,504,450) 12,374,512 1,651,893 505,927 2,157,820 664,865 537,586 1,202,451 1,186,611 22,458 78,707 17,022,559 3,865,987 1,131,674 (2,504,450) 2,493,211 16,935 482,393 302,356 296,313 3,591,208 66

5 2007 12 31 6,201,823 5,457,340 11,659,163 12,695 12,695 6,201,823 5,470,035 11,671,858 1,472,048 321,687 1,793,735 93,398 (1,786) (42,916) (44,702) (87,516) 1,754,915 502,235 (235,333) 2,021,817 (43,197) 1,978,620 484,453 562,988 1,047,441 143,600 152,260 182,269 334,529 1,894 3,822 2,788 6,610 3,878 1,786 42,916 44,702 711 376 376 12 12 67 2008

5 2007 12 31 3,997,461 4,495,826 (712,289) 7,780,998 505,927 505,927 19,613 588,562 608,175 4,582,268 24,382 37,493 13,539,243 1,294,316 583,388 (712,289) 1,165,415 5,481 200,000 79,664 52,322 1,502,882 12 31 2008 2007 16,960,702 11,276,256 636,053 172,419 259,030 223,183 17,855,785 11,671,858 68

5 12 31 2008 2007 15,880,691 8,715,555 1,079,288 4,799,544 62,580 24,144 17,022,559 13,539,243 12 31 2008 2007 1,150,688 1,114,328 293,040 72,809 5,189 3,904 1,448,917 1,191,041 6 12 31 2008 2007 3,315 4,762 11,638 3,278 5,246 18,231 10,008 69 2008

7 12 31 2008 2007 38,069 71,344 3,115 12,046 27,547 68,731 83,390 8 12 31 2008 2007 8,589,785 5,768,288 509,873 336,423 979 711 110,608 44,702 28,769 10,488 3,701,092 2,262,233 14 2,118,008 1,258,156 35(b) 10,227 (62) 40,394 376 1,202 12 9,420 5,619 70

9 12 31 2008 2007 45,457 138,057 364,178 27,095 72,552 502,235 ------------------- ------------------- 5 (29,736) (27,299) (61,524) (208,034) (91,260) (235,333) ------------------ ------------------ (18,708) 266,902 10. 12 31 2008 2007 303,446 84,860 1,404 1,723 1,533 865 (2,423) (775) (5,003) (311) 22 (45,316) (39,248) 257,558 43,197 16.5% 200717.5% 71 2008

10. 9% 18%201325% 12 31 2008 2007 2,260,595 2,021,817 409,969 303,298 (215,666) (240,194) (22,432) (99,410) 43,257 62,233 37,543 21,352 (2,004) (3,509) (5,003) 10,400 921 257,558 43,197 2008 12 3118.1% 200715.0% 11. 2008 12 311,044,836,0002007 805,784,000 72

12. 12 31 2008 2007 2,010,435 1,979,106 8,439,180 7,908,062 23.82 25.03 2007 12 31 33(e) 2007 4 27 13. 12 31 2008 2007 3 2007 3 (a) 253,240 253,240 3.52007 3.5 (b) 295,198 295,447 548,438 548,687 (a) (b) 2008 9 102008 12 313 253,240,000 2009 3 242008 12 31 3.52007 3.5295,198,000 2007 295,447,000 2009 12 31 73 2008

14 12 31 2008 2007 1,821,353 1,093,673 257,017 139,277 39,638 25,206 2,118,008 1,258,156 5% 1,000 7% 3% 2008 12 31 20072008 12 312007 8% 11% 10% 35% 74

15 2008 12 31 4,355 2,903 7,258 3,480 3,520 19 7,019 2,320 1,680 35 4,035 735 517 11 1,263 145 145 145 145 145 145 435 10,890 8,620 65 20,010 75 2008

15 2007 12 31 4,638 3,865 8,503 3,600 4,000 19 7,619 2,400 2,580 35 5,015 623 440 12 1,075 145 145 145 145 145 145 435 11,261 10,885 66 22,647 76

15 320073 2 12 31 2008 2007 5,800 8,910 42 51 5,842 8,961 12 31 2008 2007 3,000,001 2,645,000 3,500,000 3,086,000 2 4,000,001 3,528,000 4,500,000 3,969,000 1 5,500,001 4,850,000 6,000,000 5,291,000 1 2 2 (c) 2007 77 2008

16 2007 1 1 212,515 346,779 154,808 62,988 38,478 13,982 829,550 132,272 410,456 25,906 66,831 19,253 223,558 878,276 36(b) 1,424 249 525 2,198 (3,210) (2,773) (2,629) (2,168) (10,780) (2,255) (3,002) (516) (731) (175) (6,679) 2007 12 31 342,532 752,447 177,674 126,984 55,388 237,540 1,692,565 36(a) 465,423 14,769 58,595 25,886 1,759 566,432 106,343 583,621 66,270 89,906 17,859 213,012 1,077,011 822 822 377,661 71,360 (449,021) (32,638) (16,430) (15,904) (2,433) (67,405) (130,899) (130,899) (3,466) (2,665) (377) (704) (111) (7,323) 1,289,315 1,184,635 357,092 226,168 72,462 1,531 3,131,203 2007 1 1 18,040 183,032 30,877 13,810 8,170 253,929 9,599 282,689 12,826 22,522 8,787 336,423 (2,684) (2,274) (1,918) (1,018) (7,894) (204) (1,887) (355) (662) (97) (3,205) 2007 12 31 27,435 461,150 41,074 33,752 15,842 579,253 42,850 367,831 42,536 46,342 10,314 509,873 433 433 (26,629) (13,902) (7,818) (1,749) (50,098) (130,899) (130,899) (277) (1,885) (254) (632) (74) (3,122) 70,441 669,568 69,454 71,644 24,333 905,440 1,218,874 515,067 287,638 154,524 48,129 1,531 2,225,763 2007 12 31 315,097 291,297 136,600 93,232 39,546 237,540 1,113,312 78

16 12 31 2008 2007 10 50 74,706 ------------------- 33,145 ------------------- 10 50 1,130,815 281,952 50 13,353 1,144,168 281,952 ------------------ ------------------ 1,218,874 315,097 12 31 2008 2007 32(b) 228,000 17 2008 2007 1 1 582,912 301,842 36(a) 566,771 363,827 290,567 (14,760) (9,497) 12 31 1,498,750 582,912 ------------------- ------------------- 1 1 33,209 22,945 28,769 10,488 (352) (224) 12 31 61,626 33,209 ------------------ ------------------ 12 31 1,437,124 549,703 79 2008

17 12 31 2008 2007 10 50 387,251 ------------------- 150,836 ------------------- 10 50 1,009,357 398,867 50 40,516 1,049,873 398,867 ------------------ ------------------ 1,437,124 549,703 12 31 2008 2007 32(b) 64,162 80

18 2008 2007 1 1 25,656 12,250 14,231 (822) (599) (825) 12 31 24,235 25,656 ------------------- ------------------- 1 1 1,274 614 979 711 (433) (43) (51) 12 31 1,777 1,274 ------------------ ------------------ 12 31 22,458 24,382 24,300 27,611 20082007 12 31 12 31 2008 2007 10 50 9,354 10,566 10 50 13,104 13,816 22,458 24,382 81 2008

19 2007 1 1 488,850 175,000 15,964 1,000 680,814 36(b) 20,666 474,173 494,839 7,967 7,967 (199) (199) 2007 12 31 509,516 175,000 489,938 8,967 1,183,421 36(a) 1,651,893 174,635 521,812 461 2,348,801 1,158 6,921 8,079 (3,589) (3,589) (242) (5) (247) 2,157,820 349,635 1,012,666 16,344 3,536,465 2007 1 1 3,589 19,444 1,244 400 24,677 38,889 5,548 265 44,702 (60) (60) 2007 12 31 3,589 58,333 6,732 665 69,319 64,229 42,316 4,063 110,608 (3,589) (3,589) (136) (8) (144) 122,562 48,912 4,720 176,194 2,157,820 227,073 963,754 11,624 3,360,271 2007 12 31 505,927 116,667 483,206 8,302 1,114,102 82

19 1,580,136 505,927 2,086,063 71,757 71,757 1,651,893 505,927 2,157,820 2007 12 31 505,927 505,927 3,589 3,589 3,589 505,927 509,516 3% 55% 65% 63% 70% 35% 36% 26% 68% 3% 10% 10% 20% 12% 12% 12% 83 2008

20 12 31 2008 2007 3,957,309 1,329,146 (a) 5,585,773 3,828,337 9,543,082 5,157,483 (b) 1,420,127 4,845,182 (b) 498,997 (a) (b) (c) 40 21. 2007 12 31 904,552,000 36(c) 84

22 12 31 2008 2007 78,707 37,493 (296,313) (52,322) (217,606) (14,829) 2007 1 1 441 8,616 (42,438) (33,381) 36(b) (20,666) (20,666) 27,585 10,610 172 881 39,248 (30) (30) 2007 12 31 411 36,201 (31,828) (20,494) 881 (14,829) 36(a) (112,550) (20,399) (120,469) 5,374 (248,044) 10 3,479 14,257 15,369 5,185 23,683 (16,657) 45,316 (45) (11) 7 (49) (108,705) 50,447 (36,858) (135,778) 23,683 (10,395) (217,606) 2008 12 31 362,915,0002007 237,827,000 85 2008

22 12 31 2008 2007 112,865 120,144 119,523 89,151 130,527 28,532 362,915 237,827 2008 12 3189,936,0002007 58,251,000 23 12 31 2008 2007 248,821 248,329 52,552 96,780 3,939,597 1,931,986 14,832 8,092 4,255,802 2,285,187 (26,838) (3,536) 4,228,964 2,281,651 24 30 0 30 2008 12 31 12 31 2008 2007 0 30 1,643,039 1,316,312 31 60 73,989 50,680 61 90 38,508 13,809 90 109,325 14,310 1,864,861 1,395,111 86

24 12 31 2008 2007 1,837,966 1,389,950 21,074 4,138 1,159 952 4,662 71 1,864,861 1,395,111 2008 12 31 147,833,0002007 28,119,000 12 31 2008 2007 61 90 38,508 13,809 91 150 95,850 13,866 150 13,475 444 147,833 28,119 2008 12 311,202,0002007 12,000 25 87 2008

26 12 31 2008 2007 42,665 12 12 2008 12 31 27 2008 12 316.00% 2007 28 2008 12 314.03% 2007 88

29 12 31 12 31 2008 2007 200 2007 2,270,732 1,399,485 778 213 55,864 3,813,682 2,326,596 5,213,167 778 213 2,145,772 745,201 145,463 4,337,636 778 213 624 128,047 34,737 2,283 2,326,596 5,213,167 778 213 2008 12 312.88% 2007 3.54% 89 2008

30 0 60 2008 12 31 12 31 2008 2007 0 30 1,006,904 616,733 31 60 425,114 1,101 60 27,151 1,459,169 617,834 12 31 2008 2007 1,448,336 606,320 5,964 2,908 4,281 8,606 588 1,459,169 617,834 31 12 31 12 31 2008 2007 200 2007 267,888 203,825 178,099 101,163 198,076 141,135 312,355 55,546 1,621 205 36(c) 20,000 3,828 4,100 980,246 505,769 1,621 205 90

32 (a) 12 31 2008 2007 482,393 200,000 21,055 503,448 200,000 503,448 200,000 503,448 200,000 12 31 2008 2007 200,000 503,448 503,448 200,000 2.01% 6.48% 12 31 2008 2007 200,000 503,448 503,448 200,000 91 2008

32 (b) 12 31 2008 2007 228,000 64,162 292,162 887,799 249,196 1,953,563 313,546 503,448 200,000 12 31 2008 2007 1,382,711 272,248 50,000 1,382,711 322,248 92

33 0.01 0.01 2008 1 1 2008 12 31 30,000,000,000 30,000,000,000 296,038 2008 1 1 8,441,333,000 8,441,333,000 83,126 (a) (7,100,000) (7,100,000) (70) 8,434,233,000 8,434,233,000 83,056 2007 12 31 2007 1 1 19,500,000 19,500,000 39,000,000 413 b 19,500,000 (19,500,000) c 29,961,000,000 29,961,000,000 295,625 2007 12 31 30,000,000,000 30,000,000,000 296,038 2007 1 1 86,354 196,470 282,824 3 d 196,470 (196,470) e 7,070,317,176 7,070,317,176 69,763 f 1,370,733,000 1,370,733,000 13,360 2007 12 31 8,441,333,000 8,441,333,000 83,126 93 2008

33 (a) 40,263,000 35,502,0007,100,000 2007 5.70 5.50 (b) 2007 4 27 19,500,000 0.010.01 39,000,000 0.01 (c) 2007 4 2729,961,000,000 0.01 390,000 413,000300,000,000 296,038,000 (d) 2007 4 27196,470 (e) 2007 4 27 70,703,172 69,762,820 2007 5 8 7,070,317,176 0.01 (f) 2007 5 232007 5 31 8,498,545,0008,283,182,000 6.2 0.01 1,161,300,000209,433,000 2007 1 1 1,435,889 (69,763) 8,269,822 (268,627) 2007 12 31 9,367,321 (35,432) 2008 12 31 9,331,889 2219613 94

33 2007 4 27 (i) (ii) (i) (ii) (iii) (iv) (v) 10 10% 2008 12 31 95 2008

34 (a) (b) 2219613 2005 (c) 2007 1 1 400,291 400,291 805,784 805,784 (653,241) (653,241) 2007 12 31 552,834 552,834 1,044,836 1,044,836 33(a) 70 (70) (548,687) (548,687) 2008 12 31 70 1,048,913 1,048,983 96

35 (a) 12 31 2008 2007 2,003,037 1,978,620 257,558 43,197 139,377 55,190 509,873 336,423 979 711 10,227 (62) 40,394 376 1,202 12 (27,547) (6,703) (42,665) 41,222 182,033 (72,552) (502,235) 29,736 27,299 2,933,506 2,072,196 (91,924) (135,398) (1,304,812) (700,607) (276,280) (556,866) (148,720) (116,174) 396,703 (390,000) 42,665 (128,839) (34,026) (23,496) 728,139 169,353 215,930 147,685 2,461,181 337,854 97 2008

35 (b) 12 31 2008 2007 16 17,307 2,886 8 (10,227) 62 7,080 2,948 36 (i) 2008 1 1Full Brand Limited Millie s 600,000,000 559,224,000200,000,000( 186,500,000 (ii) 2007 11 2,108,602,0002008 1 2008 5 98

36 (iii) 2008 6 1Mirabell International Holdings Limited 1,615,656,000 1,475,950,000 559,224 2,088,602 1,475,950 4,123,776 20,000 20,000 388 7,650 8,038 559,612 2,108,602 1,483,600 4,151,814 (106,094) (1,577,086) (816,741) (2,499,921) 19 453,518 531,516 666,859 1,651,893 99 2008

36 16 17) 19,914 19,914 605,946 1,037,218 36,516 76,071 662,376 1,133,203 19 99,138 324,120 10,136 273,650 10,136 696,908 110,661 110,661 311,659 311,659 229,820 260,575 652,140 682,895 7,195 7,195 126,306 126,306 225,325 225,325 358,826 358,826 72,096 72,096 88,077 88,077 147,259 147,259 307,432 307,432 22 966 (15,392 ) (188,848 ) 6,202 (43,804 ) 7,168 (248,044 ) (55,081 ) (55,081 ) (55,081 ) (55,081 ) (130,847 ) (130,847 ) (121,446 ) (121,446 ) (122,335 ) (122,335 ) (374,628 ) (374,628 ) 24,904 107,684 1,010,542 1,577,086 532,923 816,741 1,568,369 2,501,511 (1,590 ) (1,590 ) (1,590 ) (1,590 ) 23,314 106,094 1,010,542 1,577,086 532,923 816,741 1,566,779 2,499,921 2008 12 311,145,290,000 90,414,000 2008 12 31 2008 1 1 2008 12 31 100

36 2007 9 1 Fila 85% Fila Marketing (Hong Kong) Limited 100%Fila Fila Fila 2007 9 1 368,788 51,393 (399,515) 19 20,666 19 474,173 16 2,198 2,198 11,558 11,558 1,508 1,508 9,712 9,712 8,541 8,541 (207) (207) (23,885) (23,885) 22 (20,666) 9,425 462,932 (63,417) 9,425 399,515 Fila2008 12 31 3,828,000 2007 4,100,00046,595,000 2007 47,293,000 101 2008

36 12 31 2008 2007 4,151,814 368,788 2007 21 (904,552) 2008 12 31 31 (20,000) 3,227,262 368,788 (358,826) (8,541) 2,868,436 360,247 37 2008 12 31 12 31 2008 2007 1,689,888 139,130 22,971 178,367 22,971 2,007,385 102

37 2008 12 31 12 31 2008 2007 596,022 624,239 761,686 524,311 390,455 350,117 1,748,163 1,498,667 2008 12 312007 38 2008 12 31 12 31 2008 2007 6,306 3,500 745 24 7,051 3,524 103 2008

39 2007 7 27 2008 6 1 12 31 2008 2007 a 568 887 b 2,870 6,755 c 29,155 32,221 (a) (b) (c) 104

40 2008 12 31 10,000,000 100% 1 515,001 100% 1 10,000,000 100% 1 20,000 100% 100 1,000,000 100% 1 10,000 100% ( BVI ) 1 Famestep Management 10,000 100% BVI Limited 1 Fullbest Investments 20,000 100% BVI Limited 1 50,000 85% 1 105 2008

40 20,000,000 100% 1 3 100% 1 Fila Marketing (Hong Kong) 79,800,000 100% Limited 1 Fiorucci (HK) Limited 10,000 100% 1 1,000,000 100% 1 2 100% 1 14,000 100% 1,000 1,000,000 100% 10 2 100% 1 2 100% 100 2,016 100 Puppies Company Ltd. 1,000,000 100% 1 10,000 100% 1 106

40 10,000 100% 1 300,000 100% 1 Artigiano Footwear Limited 30,000 100% 1 2 100% 12,500 Mirabell International 263,320,000 100% Holdings Limited 0.1 Staccato (IP) Limited 100 100% 1 Hornet Agents Limited 1 100% BVI 1 1 100% BVI 1 Mirabell Investments Limited 1 100% BVI 1 Full Prospect (IP) Pte Limited 200,000 100% 1 10,000,000 100% # 25,000,000 100% # 107 2008

40 # 5,000,000 100% # 5,000,000 100% # 12,000,000 100% # 12,000,000 100% 8,771,368 100% # # 32,000,000 100% # 130,000,000 100% 32,000,000 100% # 100% @ 240,000,000 108

40 @ 100% 180,000,000 @ 100% 242,000,000 @ 100% 32,000,000 100% @ 220,750,000 @ 100% 1,000,000 @ 100% 12,000,000 @ 100% 500,000 100% @ 1,800,000 @ 100% 294,250,000 100% @ 980,000 109 2008

40 100% @ 50,000,000 100% @ 10,000,000 @ 100% 371,880,000 # @ 110