2 3-4 5-6 7-9 10-15 16-19 20-60 61-70 71-72 73 74 75-76 77 78-79 80-140 141-146
01565 32,706 14,252 2,002 73.6% 69.5% 77.4% 15 2
15 43 77 3 34 Conyers Dill & Pearman Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 1 22 9 6 19 1903 1904 3 2015
Cricket Square Hutchins Drive, P.O. Box 2681 Grand Cayman, KY1-1111 Cayman Islands 23 ir@virscendeducation.com 23 www.virscendeducation.com 1 36 Codan Trust Company (Cayman) Limited Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 1565 183 17 1712-1716 4
502,057 554,719 626,007 707,690 197,752 207,239 254,623 296,353 95,774 53,730 114,321 125,150 1 95,774 53,730 114,321 151,444 66,482 37,302 79,120 109,677 1 (%) 39.4% 37.4% 40.7% 41.9% (%) 19.1% 9.7% 18.3% 17.7% (%) 19.1% 9.7% 18.3% 21.4% 5 2015
2,120,723 2,311,152 2,349,135 2,324,487 250,737 305,998 246,415 288,788 1,032,321 1,178,797 1,075,774 1,272,640 (781,584) (872,799) (829,359) (983,852) 1,339,139 1,438,353 1,519,776 1,340,635 729,972 830,456 837,493 752,184 609,167 607,897 682,283 588,451 706,871 780,493 812,794 2,064,117 153,268 189,453 109,850 248,600 295,760 338,406 371,371 435,743 1,235,999 1,447,785 1,350,648 1,335,021 0.24 0.26 0.23 0.23 2 202.9% 238.2% 198.0% 226.9% 2 146,726 219,474 273,865 577,035 6
109.7 38.6% 0.0487 151.4 32.5% 15 32,706 2.7% 7 2015
77.4% 20% 588.4 80.4 13.7% 668.8 8
9 2015
626.0 81.7 ( 13.1%) 707.7 588.4 80.4 13.7% 668.8 (i) (ii) 371.4 39.9 10.7% 411.3 243.7 20.0 8.2% 263.7 43.5 18.1 41.6% 61.6 254.6 41.8 16.4% 296.4 40.7% 41.9% 2.2 0.6 27.3% 2.8 10
32.8 36.7 111.9% 69.5 (i) (ii) 73,000 1.6 (i) (ii) 10% 260.0 109.8 7.3 6.6% 102.5 11 2015
125,150 114,321 26,294 151,444 114,321 114.3 37.1 32.5% 151.4 (i) (ii) (iii) 72.4 1,352.4 12
1,424.8 577,035 273,865 (219,218) (343,116) (219,080) (10,352) 138,737 (79,603) 109,850 189,453 13 248,600 109,850 1,335,021 1,350,648 21 13 2015
3 20 13,550 1,820 33,952 8,179 20,755 23,199 68,257 33,198 68.3 14
198.0% 226.9% 220.0 2,890 2,784 297.0 269.3 15 2015
53 15 44 20 56 22 16
54 20 65 Hong Kong Quanzhou Associations Limited 34 69 17 2015
52 15 69 44 55 15 18
61 36 58 20 58 22 19 2015
1 1 73 19,946 9,225 16.7% 86.9% 20
10.9% 2,475 12.9% 230.8 2.6% 23.0 35.3 8.9% 50.6 7.5% 519 1,687 26.6% 3,344 14.7% 152,148 0.1% 4.2 66,100 1.6% 17,900 21 2015
0.43% 18,454 14,252 73.6% 69.5% 77.4% 6 SAT 22
(i) (ii) (iii) (iv) (v) (vi) 2,002 85.0% 25.7% 43 29.1% 16 23 2015
626.0 707.7 94.5% 24
184,986 151,706 33,280 21.9 127,891 106,374 21,517 20.2 116,242 106,102 10,140 9.6 66,807 61,870 4,937 8.0 6,744 6,221 523 8.4 166,154 156,152 10,002 6.4 668,824 588,425 80,399 13.7 38,866 37,582 1,284 3.4 707,690 626,007 81,683 13.0 172,951 28,917 196,382 31,542 116,724 26,772 133,968 29,482 113,563 28,138 126,363 30,686 62,253 23,599 65,846 24,424 6,179 20,259 6,747 21,625 150,554 11,429 161,605 11,810 25 2015
5,491 5,026 465 9.3 9,960 10,053 (93) (0.9) 2,678 2,685 (7) (0.3) 325 312 13 4.2 18,454 18,076 378 2.1 14,252 13,762 490 3.6 32,706 31,838 868 2.7 31,838 32,706 26
3,000 54,349.72 20 5,000 45.0% 55.0% 27 2015
6,500 5 6 1,930.2 5% 83.9% 52.6% 5% 28
13 386,256,000 8,583,000 23 77 33 21 183 17 1712-1716 29 2015
84 16 19 3.13 30
486 486 V-20 8 9 2.4 31 2015
XV 7 8 352 XV XV 7 8 352 10 (%) (1) 1,562,467,500 50.59 67,500,000 2.19 (2) 1,562,467,500 50.59 67,500,000 2.19 (3) 95,400,000 3.09 (1) Virscend Holdings Company Limited Virscend Holdings Company Limited Smart Ally International Limited (2) Smart Ally International Limited Smart Ally International Limited Virscend Holdings Company Limited (3) Lucky Sign Global Limited 37.5% Lucky Sign Global Limited XV XV 7 8 32
352 18 XV 2 3 336 336 XV 2 3 (%) Virscend Holdings Company Limited (1) 1,562,467,500 50.59 Happy Venus Limited (2) 417,330,000 13.51 (2) 417,330,000 13.51 (1) Virscend Holdings Company Limited Virscend Holdings Company Limited (2) Happy Venus Limited Happy Venus Limited XV 2 3 336 33 2015
(a) (b) (c) (d) (e) (f) (g) (a) (f) 10% 300,000,000 9.71% 12 1% 12 1% 10 34
28 28 1.00 (a) (b) (c) 5 10 (i) (ii) (i) 35 2015
70% 30% 14A 36
14A (1) 94,778.30 14 100,031.00 46,953.12 3,231.66 37 2015
14A.07(1) 69.44% (a) (b) 92.9% 7.1% 14A.07(1) 14A.07(1) 14A.06(23) (2) A. 38
1. (2) 2. (2) 3. (3) 4. (4) (5) 39 2015
5. (4) (6) 6. (7) 7. (8) 8. (9) 9. 51.87% 24.3% 23.83% 0811 60% 40% 10. 23.83% 11. 12. 13. 14. 15. 16. 40
B. (1) (i) (ii) (i) (ii) (iii) (2) 41 2015
(3) 42
(4) (i) (ii) (5) (4) 43 2015
(6) (4) (7) (a) (b) (c) (d) 44
(e) (f) (8) 45 2015
(9) C. D. 100% 100% 111% 100% 99% 100% 46
E. (i) (ii) 707,690 2,591,883 F. 1. 47 2015
2. 50% (a) (b) (i) (ii) 48
(iii) (iv) (v) (vi) (vii) (a) (i) (ii) (b) 49 2015
3. (i) (ii) 2.0 Wahtai (US) Robert T. Chi Department of Information Systems 70.0% 30.0% Wahtai (US) 12 130,000 50
Wahtai (US) USA Tianren Hotel Management Inc. USA Tianren Hotel USA Tianren Hotel 5,000 6,000 USA Tianren Hotel 60 Wahtai (US) Wahtai (US) 4. 51 2015
(i) 50% (ii) 50% (a) 50% (b) 50% (c) (iii) 19 52
(a) (b) (c) 53 2015
144 145 147 148 100,000 1 10% 100,000 1 10% 50,000 500,000 5% 54
(i) 50.59% (ii) (iii) G. 55 2015
(a) (b) (c) (d) (e) (a) (b) (c) 56
(d) H. I. (3) (i) (ii) (iii) (4) 3000 740 57 2015
(i) (ii) (iii) (1) (2) (3) (4) (5) 14A (i) USA Tianren Hotel Management Inc. 5,000 (ii) 28 58
28 14A 259,000 164(1) 32 59 2015
61 70 25% 60
14 61 2015
3.10(1) 3.10(2) 3.10A 3.13 62
A/B/C/D A/B/C/D A/C/D A/B/C/D A/D A/D A/D A B C D A.2.1 63 2015
(3) 64
2/2 2/2 2/2 2/2 1/1 1/1 1/1 10 65 2015
(a) (b) (c) (d) (e) (f) 1. 2. 3. 66
1. 2. 3. 4. 5. 1. 2. 3. 4. 67 2015
5. 6. 7. 8. 16 19 0 1 13 71 72 68
838,000 100,000 938,000 3.29 15 69 2015
(www.virscendeducation.com) 21 1 36 ir@virscendeducation.com 70
73 140 71 2015
72
5 707,690 626,007 (411,337) (371,384) 296,353 254,623 5 5,184 4,764 (2,789) (2,194) (69,458) (32,844) (1,595) (73) 7 (102,545) (109,848) (107) 6 125,150 114,321 10 125,150 114,321 12 109,677 79,120 15,473 35,201 125,150 114,321 12 0.0487 0.0352 73 2015
125,150 114,321 (13) (13) (13) 125,137 114,321 109,660 79,120 15,477 35,201 125,137 114,321 74
13 2,064,117 812,794 14 259,995 151,606 375 369 15 520,947 28(a) 863,419 2,324,487 2,349,135 17 40,188 136,315 16 250 18 248,600 109,850 288,788 246,415 20 233,054 78,403 21 589,000 626,000 19 435,743 371,371 22 190 28(a) 14,653 1,272,640 1,075,774 (983,852) (829,359) 1,340,635 1,519,776 75 2015
1,340,635 1,519,776 21 746,021 724,648 22 6,163 4,810 28(a) 108,035 752,184 837,493 588,451 682,283 23 310 24 587,971 590,058 170 92,225 588,451 682,283 76
23 24(a) 24(b) 374,540* 76,372* 87,561* 538,473 69,424 607,897 79,120 79,120 35,201 114,321 79,120 79,120 35,201 114,321 65 65 65 31,275 (31,275) 11 (27,600) (27,600) (12,400) (40,000) 374,605* 107,647* 107,806* 590,058 92,225 682,283 109,677 109,677 15,473 125,150 (17) (17) 4 (13) (17) 109,677 109,660 15,477 125,137 23 310 310 310 (300) (1,584) (1,884) 2,100 216 47,480 (47,480) 315 315 315 190 190 41,622 41,622 (41,622) 11 (151,800) (151,800) (68,200) (220,000) 310 416,242* 153,543* (17)* 18,203* 588,281 170 588,451 * 587,971,000 590,058,000 77 2015
6 125,150 114,321 7 102,545 109,848 107 487 5 (823) (653) 6 3 9 5 (507) (1,656) 6 13 56,300 40,101 6 14 6,130 4,612 289,285 266,689 148,783 (21,820) (6) 58,504 (6,278) 15,274 64,372 32,965 1,656 576,212 273,212 5 823 653 10 577,035 273,865 13 (27,047) (87,209) 5 2,050 3,694 1,200 3,121 (180,513) (212,633) (10,404) (50,089) (4,504) (219,218) (343,116) 78
671,000 558,800 (688,000) (659,000) 310 315 190 (101,048) (40,000) (14,115) 251,000 (100,960) (107,037) (887) (219,080) (10,352) 138,737 (79,603) 109,850 189,453 13 248,600 109,850 18 248,600 109,850 79 2015
1. Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, KY1-1111, Cayman Islands Virscend Holdings Company Limited Virscend Investment Holding Company Limited 50,000 100.00% 10,000 100.00% 500,000 100.00% (a)) 98,408,800 (a)) 80
1. 52,000,000 100.00% 132,100,000 100.00% 1,000,000 100.00% 1,000,000 100.00% 1,000,000 100.00% USA Wahtai Educational Consulting Services Inc. 100,000 70.00% 100,000 100.00% 81 2015
1. (a) 23.83% 255,000,000 23.83% 75.70% 24.30% 260 8% 9% 10% 2.1 82
2.1 (a) (b) (c) (i) (ii) (iii) (i) (ii) (iii) 983,852,000 1,617,100,000 1,930,000,000 83 2015
2.2 19 (a) 19 (b) 8 8 16 38 24 84
2.2 (c) 3 3 13 13 9 39 13 13 40 3 40 622 9 85 2015
2.3 9 2 10 1 28 10 1 12 28 11 1 14 3 15 2 1 1 16 1 38 16 1 41 27 1 1 7 4 12 4 16 5 1 2 3 4 5 9 9 9 9 86
2.3 (a) 9 (b) 9 9 9 10 28 10 28 11 3 11 87 2015
2.3 14 14 15 15 15 15 15 15 1 (i) 1 (ii) (iii) (iv) 88
2.3 16 38 16 38 16 41 16 41 16 16 41 20 27 5 5 7 7 7 89 2015
2.3 7 7 19 34 2.4 20% 90
2.4 91 2015
2.4 92
2.4 1 2 3 93 2015
2.4 (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) (viii) 94
2.4 1.8% 2.6% 10% 18% 18% 18% 95 2015
2.4 39 39 96
2.4 (a) (b) 97 2015
2.4 98
2.4 99 2015
2.4 100
2.4 101 2015
2.4 102
2.4 622 103 2015
3. 104
3. 13 4. 8 10% 105 2015
5. 668,824 588,425 38,866 37,582 707,690 626,007 6 823 653 (i)) 949 2,192 16 196 174 333 1,656 2,889 67 5,184 4,764 (i) 106
6. 8 167,079 142,548 32,497 25,990 13 56,300 40,101 14 6,130 4,612 6,922 8,705 838 78 346 26,294 5 (823) (653) 3 9 487 7. 102,545 109,848 107 2015
8. 383(1) (a) (b) (c) (f) 2 1,244 1,505 5 1,249 1,505 (a) 108
8. (b) 690 690 448 448 1,138 1,138 106 5 111 1,244 5 1,249 720 720 785 785 1,505 1,505 1,505 1,505 109 2015
9. 2 2 8 3 3 943 578 22 965 578 1,000,000 3 3 10. 110
10. 15% 40% 9% 15% % % 125,150 114,321 37,708 28,580 25.0 1,114 0.9 627 0.5 47 (39,496) (31.6) (28,580) (25.0) 111 2015
10. 10% 10% 6,965,000 70,122,000 107,812,000 11. 220,000,000 40,000,000 66,442,000 101,048,000 112
12. 2,250,000,000 2,250,000,000 23 109,677 79,120 2,250,000,000 2,250,000,000 0.0487 0.0352 113 2015
13. 719,344 114,168 9,961 39,943 195,285 1,078,701 (56,416) (19,246) (7,108) (31,857) (151,280) (265,907) 662,928 94,922 2,853 8,086 44,005 812,794 662,928 94,922 2,853 8,086 44,005 812,794 (i) 1,295,680 640 1,403 2,800 7,140 1,307,663 (40) (40) 6 (32,937) (11,433) (932) (2,143) (8,855) (56,300) 1,925,671 84,129 3,324 8,743 42,250 2,064,117 2,015,024 114,808 11,364 42,743 202,385 2,386,324 (89,353) (30,679) (8,040) (34,000) (160,135) (322,207) 1,925,671 84,129 3,324 8,743 42,250 2,064,117 114
13. 678,355 90,127 9,444 39,154 189,312 1,006,392 (38,878) (9,649) (6,277) (29,199) (141,896) (225,899) 639,477 80,478 3,167 9,955 47,416 780,493 639,477 80,478 3,167 9,955 47,416 780,493 40,989 24,041 517 789 6,071 72,407 (5) (5) 6 (17,538) (9,597) (831) (2,658) (9,477) (40,101) 662,928 94,922 2,853 8,086 44,005 812,794 719,344 114,168 9,961 39,943 195,285 1,078,701 (56,416) (19,246) (7,108) (31,857) (151,280) (265,907) 662,928 94,922 2,853 8,086 44,005 812,794 (i) 28(b) 1,390,401,000 1,273,304,000 117,097,000 14 15 28(a) 115 2015
14. 156,218 160,830 (i) 117,097 (6,130) (4,612) 267,185 156,218 17 7,190 4,612 259,995 151,606 (i) 28(b) 1,390,401,000 1,273,304,000 117,097,000 13 15 28(a) 116
15. 520,947 520,947 1,390,401,000 13 14 28(a) 16. 250 117 2015
17. 1,946 719 1,200 14 7,190 4,612 343 275 (ii) 15,133 (i) 123,600 3,608 5,700 2,301 9,876 40,188 136,315 (i) 123,600,000 (ii) 118
18. 248,600 109,850 245,855,000 109,850,000 19. 411,815 348,157 23,928 23,214 435,743 371,371 119 2015
20. 31,155 16,669 (i) 12,842 14,410 7,134 (ii) 52,507 18,578 3,870 3,498 (iii) 52,510 27,991 28,202 21,070 16,699 4,322 233,054 78,403 (i) (ii) (iii) 220,000,000 66,442,000 101,048,000 120
21. (%) 4.57-6.23 509,000 7.55 80,000 589,000 5.67-7.84 486,021 10.00 * 260,000 746,021 1,335,021 (%) 5.88-7.57 626,000 7.21 384,648 7.55 80,000 10.00 * 260,000 724,648 1,350,648 * 24.3% 260 10% 121 2015
21. 509,000 626,000 105,000 80,000 255,000 180,000 126,021 124,648 995,021 1,010,648 80,000 80,000 260,000 260,000 340,000 340,000 1,335,021 1,350,648 1,090,648,000 1,075,021,000 122
22. 4,810 1,116 2,050 5,350 (507) (1,656) 6,353 4,810 190 6,163 4,810 6,353 4,810 23. 2,250,000,000 2,250,000,000 0.01 310 123 2015
23. 38,000,000 310 310 (a) 2,212,000,000 18,670 (18,670) 2,250,000,000 18,980 (18,670) 310 (a) 22,120,000 2,212,000,000 24. 7 (a) 124
24. (b) (i) (ii) 1) 10% 50% 25% 2) 25% (c) 125 2015
25. i) 66,442,000 11ii 1,390,401,000 13 14iii 180,513,000 26. 3 20 13,550 1,820 33,952 8,179 20,755 23,199 68,257 33,198 27. 126
28. (a) 28(b)-2 349,044 28(b)-2 248,660 28(b)-2 115,600 28(b)-2 60,738 28(b)-2 75,262 28(b)-2 9,035 28(b)-2 3,540 28(b)-2 1,279 28(b)-2 261 863,419 127 2015
28. (a) 28(b)-2 201 28(b)-2 1 USA Tianren Hotel 28(b)-2 84 28(b)-2 106,928 28(b)-2 407 28(b)-2 700 28(b)-2 14,367 14,653 108,035 128
28. (b) 1) 2) 28(a) 1,390,401,000 1,273,304,000 117,097,000 13 14 3) (i) 40,990 (ii) 1,390,401 4,836 201 1 USA Tianren Hotel 84 (i) (ii) 4) 1,090,648,000 1,075,021,000 129 2015
28. (c) 2,076 2,181 5 2,081 2,181 8 14A 29. 250 250 130
29. 6,043 127,376 248,600 109,850 375 369 255,018 237,595 14,653 108,035 172,269 57,896 1,335,021 1,350,648 1,521,943 1,516,579 131 2015
30. 375 290 746,021 746,021 746,396 746,311 250 250 369 286 724,648 724,648 725,267 725,184 132
30. 250 250 250 250 133 2015
30. 290 290 290 290 286 286 286 286 134
30. 486,021 260,000 746,021 486,021 260,000 746,021 384,648 340,000 724,648 384,648 340,000 724,648 135 2015
31. 21 50 50 2,239,000 3,355,000 136
31. 35,046 417,291 104,000 260,000* 816,337 10,613 238,559 422,634 167,859 839,665 14,653 14,653 172,269 172,269 172,269 45,659 670,503 526,634 427,859 1,842,924 45,000 11,436 254,060 189,822 260,000* 760,318 25,000 10,415 209,750 340,472 145,187 730,824 108,035 108,035 57,896 57,896 127,896 21,851 463,810 638,329 405,187 1,657,073 * 260,000,000 10% 137 2015
31. 21 32. (a) 750,000,000 0.01 2.40 2.40 88,761,000 (b) 22,120,000 2,212,000,000 38,000,000 380,000 3,000,000,000 750,000,000 138
33. 315 315 310 2,042 2,352 8,167 8,167 (5,815) (5,500) (5,500) 310 (5,810) (5,500) 139 2015
33. (6,125) (6,125) (6,125) (6,125) 315 315 315 (6,125) (5,810) 34. 140
141 2015
51.87% 24.3% 23.83% 622 Virscend Holdings 92.9% 7.1% 142
143 2015
0.01 69.44% 18.55% 3.00% 2.65% 1.59% 1.59% 1.59% 1.59% 144
Virscend Holdings Virscend Holdings Company Limited 145 2015
Wahtai (US) USA Wahtai Educational Consulting Services Inc. Robert T. Chi 70% 30% 0811 % 146