LTB Holdings Limited [ ] [ ] [ ] [ ] [ ][ ] [ ][ ] 1% 0.005% % [ ]0.01 [ ] [ ] C [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ]

LTB Holdings Limited (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k)

LTB Holdings Limited [ ] [ ] [ ] [ ] [ ][ ] [ ][ ] 1% 0.005% 0.0027% [ ]0.01 [ ] [ ] 32 342C [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] www.hkexnews.hk www.linkthebest.com.hk [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] www.hkexnews. hk www.linkthebest.com.hk [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]

[ ] ii

[ ] [ ] [ ] [ ][ ] [ ] [ ]............................................................... i............................................................... ii..................................................................... iii..................................................................... 1..................................................................... 11................................................................. 21............................................................... 22................................................................. 24 [ ]................................................ 38 [ ].................................................. 42................................................................. 45................................................................. 47................................................................. 56......................................................... 66..................................................................... 75 iii

........................................................ 117........................................................ 127.......................................................... 134................................................................. 136..................................................................... 138................................................................. 141 [ ].................................................... 178........................................................ 187..................................................................... 188 [ ]...................................................... 195................................................... I 1........................................ II 1......................... III 1............................................... IV 1................................ V 1 iv

[ ] [ ] [ ] 18.6% HVAC CFC HCFC (i) (ii) (i) (ii) 1

(%) (%) 12,653 53.9 32,420 68.0 7,236 30.8 9,023 18.9 2,162 9.2 4,905 10.3 1,438 6.1 1,325 2.8 23,489 100.0 47,673 100.0 14 Lucky-PIP Lucky-PIP Lucky-PIP CFC HCFC 200 76.2 1.1 81 2

(i) (ii) (iii) (iv) 15,500 92 (%) 4,676 11,944 39.1 8,204 11,944 68.7 93 ISO 90012008 1.00 0.15 0.06 80 3

(i) (ii) (iii) (iv) (v) (vi) 102 33 40 9.2 12.7 39.3% 26.7% 17.2 39.1 73.2% 82.1% 99 HDPE 4

1.2 1.9 23.8% 21.2% 3.8 6.4 73.8% 69.8% 102 76 78 (i) (ii) 95 5

24 23,489 47,673 (9,428) (17,073) 14,061 30,600 9,533 19,056 7,926 15,127 6

509 462 18,092 14,044 8,381 8,338 150 171 9,711 5,706 10,070 5,997 59.9% 64.2% 33.7% 31.7% 42.6% 104.3% 78.7% 252.2% 2.2 1.7 141 [ ] [ ] Jolly Fine 50% 40% 4.5% 4.5% 1% [ ]% Jolly Fine 127 7

Jolly Fine 250 Jolly Fine 2% 80,000 Jolly Fine 3,658 Jolly Fine 14.6% 1,170,560 HKEx-GL29 12 HKEx-GL43 12 69 (3) [ ] 134 Southa Investment 5.0 19.2 [ ] 8

50 18.6% 107 [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] (i) [ ] (ii)[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ][ ] [ ] [ ][ ] [ ][ ]% [ ] [ ][ ]% [ ] [ ][ ]% [ ] 9

[ ][ ]% [ ] 183 [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 18 16.0 13 8.4 5 2 [ ] [ ] (i) (ii) (iii) 10

Jolly Fine 2016 6 25 2016 6 25 123 3(1) 2016 11

[ ] 22 1961 3 622201433 32 2016 5 17 12

Jolly Fine 15 200,000 2006 12 27 2016 13. 2016 59 2016 13

[ ] CT Partners Consultants Limited [ ] [ ] ISO ISO 9001 ISO 14

Jolly Fine Jolly Fine Limited 2016 1 12 [ ] 50%40%4.5%4.5% 1% 1993 2 23 799,999 1 50.7% [ ] 1993 2 23 50.7%24.6% 24.6% [ ] 1993 3 30 2016 1995 12 28 [ ] 15

[ ] [ ] 12 2016 1977 8 5 4,699,999 1 50.7% [ ] [ ] 16

[ ] [ ] [ ] 2014 3 3 32 [ ] [ ] CFC HCFC [ ] 17

3. 2016 2013 1 1 571 2016 12. 0.01 [ ] [ ] [ ] 1985 2 26 18.1% 81.8% 18

1988 11 1 8,200,000 1 Speedy Racer Speedy Racer Limited 2016 1 12 2013 1 1 2015 2016 3 31 [ ] [ ] % 19

* * 20

(i) (ii) (iii) (iv) [ ] (v) 2015 2016 3 31 73.2% 82.1% 39.3% 26.7% 24

2015 2016 3 31 74.4% 59.6% 2015 2016331 5.1 9.2 (i) (ii) (iii) 25

2021 5 24 26

2014 3 1 2016 2 29 20,000 480,000 23.8% 21.2% 73.8% 69.8% 2015 2016 3 31 23.5 47.7 59.9% 64.2% HVAC 27

(i) (ii) (iii) (i) (ii) (iii) (iv) 2017 3 31 2018 2019 3 31 4.913.8 21.2[ ] 29

1995 2002 HVAC 2006 Lucky-PIP D. 30

30% 50% 30 45 31

2015 2016 3 31 5.0 19.2 50 32

100% 33

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] [ ][ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] 2017 3 31 2017 3 31 [ ] 2015 2016 3 31 [ ] [ ] [ ] 10% 34

[ ] [ ] [ ] [ ]% 17.29 [ ] [ ] 35

[ ][ ] [ ] [ ] [ ] [ ] 36

[ ] [ ] 38

[ ] [ ] 39

[ ] [ ] 40

[ ] [ ] 41

[ ] 131 139 5 8 A 148 150 A 1 4 148 150 A 1 3 458 25 B 236 238 D 5 501 233 2 42

[ ] [ ] 1 6 88 13 [ ] 3 16 1604 6 1 2206 19 [ ] 8 39 88 35 43

[ ] CT Partners Consultants Limited 33 6 16 1601A 500 B 1018 1 6 88 13 44

Clifton House 75 Fort Street P.O. Box 1350 Grand Cayman KY1-1108 Cayman Islands 188 8 131 139 5 8 A 148 150 A 1 4 1 10 42 G 131 139 5 8 A 45

[ ] [ ] 1 2 8 www.linkthebest.com.hk 46

[ ][ ][ ] [ ] [ ] 1961 40 2,000 1990 (i) (ii) 47

(i) (ii) (iii) (iv) 388,000 [ ] 2011 177 2014 200 4.2% 2013 2020 243 2014 2020 3.3% 2011 353 2015 678 17.7% 2020 1,186 2015 2020 11.8% 2011 525 2015 793 10.8% 2020 1,251 2015 2020 9.6% 2011 7.1 2015 7.3 2020 7.5 48

2012 HVAC 2020 419.7 9.5% 2011 165.5 2015 266.3 2011 2015 12.6%2020419.72015 2020 9.5% 2011 18.1 201554.5 31.6% 163.7 2015 2020 24.6% 49

2011 2020 500 450 400 350 300 250 200 150 100 50 0 165.5 44.3% 184.8 43.6% +12.6% 205.7 43.7% 226.1 44.4% 36.3% 36.2% 35.4% 36.1% 5.7% 5.9% 6.0% 11.0% 3.7% 10.6% 3.8% 10.2% 3.8% 9.6% 6.1% 3.7% 266.3 39.3% 31.6% 20.5% +9.5% 385.1 419.7 352.8 29.9% 322.4 31.6% 293.5 33.2% 34.9% 23.5% 37.1% 24.8% 26.3% 4.7% 27.8% 4.9% 2.9% 29.5% 2.9% 2.9% 5.0% 3.0% 5.2% 3.0% 5.4% 3.1% 32.6% 35.8% 39.0% 3.3% 25.1% 29.2% (i) (ii) (iii) (iv) CFCHFCHCFC PU 2011 10.9% 44.3% 35.3%2015 20.5% 39.3% 31.6% 2020 39.0% 29.9% 23.5% 50

2011 19,344 2015 24,025 5.6% 2015 2020 30,190 60% 2016 2017 858 2015 8.2% CFCHFC HCFC 51

2015 (%) 1 A 20.1 2 B 19.2 3 18.6 PU 4 C 7.4 5 D 3.9 2015 50 2015 69.2% 2015 18.6% 52

2007 2016 17 2016 17 858 53

CFCHFC HCFC 2020 HDPE 2011 2015 160,000 140,000 131,646.3 120,000 100,000 80,000 60,000 40,000 23,490.5 20,000 11,143.3 7,624.2 0 0.50.6 HDPE 128,131.8 113,126.6 104,146.8 106,127.1 20,574.5 18,828.5 19,055.0 17,415.9 11,458.0 12,010.0 12.648.2 10,323.0 6,820.2 6,445.4 6,379.6 5,868.5 2011 2015 2011 131,646.3 2015 106,127.1 2011 7,624.2 2015 5,868.5 54

HDPE 2011 2015 50,000 40,000 30,000 20,000 31,663.4 31,903.9 17,339.0 34,124.5 33,619.1 18,566.6 36,309.3 28,735.6 18,672.9 39,803.8 25,043.0 21,489.2 37,763.9 24,128.7 18,462.3 10,000 0 15,088.9 6,394.4 13,730.1 13,044.0 13,059.9 12,713.2 7,459.1 7,098.2 7,008.4 7,774.5 2011 31,663.4 2014 39,803.8 3.6% 2014 2015 2011 2015 55

A. 23. 3.8 2004 6 14 (Project Administration Handbook for Civil Engineering Works) 2004 8 15 56

583 8 (a) (b) (c) (d) 201 (e) (f) 57

(g) 485 (h) (i) (ii) (i) 59 509 6 (j) 115 (k) 10 (i) (ii) (iii) B. 59 58

(a) (b) (c) (d) (e) 500,000 500,000 6 59AE 8 (a) (b) (c) 6(1)(a)(iii) (d) 8 100,000 100,000 12 59

59AG 3 50,000 59AI 50,000 59J 5 200,000 50,000 95B 12 50,000 60

56 30,000 509 (a) (b) (c) (d) (e) 200,000 200,000 6 C. 57 61

43C (i) (ii) (a) (b) 43D 60 14 5 43F 43C (i) (ii) 282 40 100 62

200 200 200 100,000 100,000 48 100,000 485 18 6560 60 5% 2014 6 1 25,000 7,100 2014 6 1 30,000 7,100 608 32.5 7 350,000 63

115 38A (i) (ii) (i) (ii) 350,000 (3) D. 400 100,000 200,000 20,000 354 16B (i) 20 13 (ii) 16C 21 64

200,000 6 500,000 6 E. 112 16.5% 123 123N 14 400,000 2 65

1995 12 1995 2002 HVAC 2006 39 1995 12 1995 5 2000 3 20 16 2006 Lucky-PIP 1995 2002 HVAC 2004 2004 2006 66

2006 ISO 90012008 2006 2006 12 Lucky-PIP 2006 2008 2010 2015 2016 1995 12 28 400,000 400,000 1.00 75% 25% 27.9% 1.6% 70.5% 33.8%25%9.1%1.6% 0.9% 30 2000 3 2000 3 15 40.6% 67

20% 2% [ ] 37.4% 36%1% 0.4% 2002628 [ ] 2002 6 28 50% 50% 50% 25.4% 12.3% 12.3% 20061227 50% 50% 2016 1 50.7% 24.6% 24.6% 50% 50% 68

(1) (2) (1) Jolly Fine 2016 1 12 Jolly Fine Jolly Fine Jolly Fine 50,000 1.00 2016 3 30 1 Jolly Fine (2) Jolly Fine 2016 5 10 Jolly Fine Jolly Fine 200,000 4,000,000 2016 3 31 Jolly Fine 6,341 3,079 3,079 2016 5 30 Jolly Fine 50.7% 24.6% 24.6% (3) (a) 69

(b) 2016 5 30 Jolly Fine 1,954 625,280 2016 3 31 2016 5 30 2016 5 30 2016 5 30 Jolly Fine 1,704 545,280 2016 3 31 2016 5 30 2016 5 30 (c) 2016 5 30 Jolly Fine 250 80,000 2016 5 30 2016 5 30 2016 5 30 2016 5 30 80,000 625,280 545,280 2016 3 31 2016 3 31 2016 5 30 2016 5 30 2016 5 30 [ ] [ ] [ ] [ ]% [ ]% 70

1% 14.6% 1% 40% [ ] [ ]% [ ]% [ ] 12 [ ] 12 11.23 [ ] [ ] [ ] [ ] 71

(d) (i) (ii) 2016 3 31 (iii) 2016 5 30 [ ] 28 HKEx-GL29 12 HKEx- GL43 12 (4) 2016 5 17 2016 16 380,000 38,000,000 0.01 2016 5 17 1 Jolly Fine 380,000 38,000,000 0.01 (5) Speedy Racer 2016 1 12 Speedy Racer Speedy Racer 50,000 1.00 2016 4 19 1 2016 6 17 Speedy Racer 1 1.00 Jolly Fine 1 Jolly Fine 1 Speedy Racer (6) Jolly Fine Speedy Racer Speedy Racer Speedy Racer 200,000 4,000,000 2016 3 31 Jolly Fine 12,500 72

Jolly Fine Speedy Racer Speedy Racer Jolly Fine 200,000 4,000,000 2016 3 31 Speedy Racer [ ] [ ] 50% 40% 4.5% 4.5% 1% 100% 100% 100% [ ] [ ] [ ] 75% 73

[ ] [ ] [ ] 100% 100% 74

18.6% (i) (ii) CFC HCFC HVAC 14 Lucky-PIP Lucky-PIP 23.5 103.0% 47.7 7.9 91.1% 15.1 [ ] [ ] [ ] 18.8 138.0% 75

12.6% 9.5% 201118.1 201554.5 31.6% 163.7 2015 2020 24.6% 18.6% Lucky-PIP ISO 90012008 (i) 14 (ii) (iii) Lucky-PIP (i) (ii) (iii) 76

33 40 30 30 77

[ ] (i) (ii) (iii) 266.3 419.7 9.5% (i) (ii) (iii) [ ] 78

[ ] (i) 79

(ii) (iii) 18.6% Lucky-PIP (%) (%) 12,653 53.9 32,420 68.0 7,236 30.8 9,023 18.9 2,162 9.2 4,905 10.3 1,438 6.1 1,325 2.8 23,489 100.0 47,673 100.0 53.9% 68.0% 80

100 HDPE 81

本文件為草擬稿並不完整且可作更改其中所載資料必須與本文件首頁警告一節一併閱讀業務於我們的生產設施生產熱絕緣管道根據管理層的經驗完成直管道的生產工序通常需時約一至兩天而完成非直管道的生產工序通常需時約一至三天我們的生產程序通常於支付訂金確認訂單以及收取內管道後開始進行下圖概述熱絕緣管道的普遍生產程序生產或採購外層護套透過插入塑膠間隔使內管道中心與外層護套一致達到統一間距在相關管道兩頭組裝末端板利用我們的高壓PUR發泡機在內管道及外層護套中間的空間注入混合液體聚氨酯化學品待混合液體聚氨酯化學品變為一層固體熱絕緣發泡層 82

1.100 0.15 0.06 30.8% 18.9% 83

本文件為草擬稿並不完整且可作更改其中所載資料必須與本文件首頁警告一節一併閱讀業務現場絕緣及重建程序根據管理層的經驗完成現場絕緣及重建工序通常需時約一至兩天下圖概述我們現場絕緣及重建服務工作流程項下的現場絕緣及重建程序現場絕緣現場重建在項目地點去除現有的熱絕緣物料於項目地點連接熱絕緣管道的內管道部分以外層護套覆蓋內管道的未絕緣部分封上注入孔於外層護套鑽穿注入孔於注入孔人手注入混合液體聚氨酯化學品封上外層護套由客戶的工人進行 85

9.2% 10.3% (i) HDPE 12 86

(ii) 6.1% 2.8% HVAC B.L. B.L. x x x x x x x Lucky-PIP HVAC 87

本文件為草擬稿並不完整且可作更改其中所載資料必須與本文件首頁警告一節一併閱讀業務緣管道更為環保沒有消耗臭氧層的 CFC 或 HCFC 物質更節省能源及耐用近年來對環保熱絕緣管道產品的需求日益增長政府亦提倡使用該等產品我們相信我們的產品日後的更受歡迎聚氨酯化學品絕緣管道的結構聚氨酯化學品絕緣管道由三個主要部分組成 (i) 內管道 (ii) 一層聚氨酯化學品熱絕緣發泡層及 (iii) 外層護套以下圖片說明聚氨酯化學品絕緣管道的結構內管道外層護套聚氨酯化學品熱絕緣發泡層內管道內管道可由不同類型的物料製成包括黑鋼銅及聚氯乙烯 (PVC) 用於承載冷熱水我們不會為客戶生產內管道客戶一般須自費採購內管道及將其交付至我們的生產設施供絕緣工作就若干項目而言客戶可要求我們按客戶提供的規格採購內管道 88

PU (i) CFC HCFC (ii) (iii) (iv) (v) 89

HDPE HDPE HDPE HDPE HDPE 90

200 76.2 1.1 91

(%) (3) (%) (3) 8,190 64.7 4,677 (1) 1.8 22,952 70.8 7,798 (1) 2.9 4,463 35.3 167 (2) 26.7 9,468 29.2 344 (2) 27.5 12,653 100.0 4,844 32,420 100.0 8,142 (1) 200 76.2 1.1 (2) (3) (i) (ii) (iii) (i) (ii) (iii) (iv) 92

PUR PUR PUR (i) (ii) PUR (2) (2) (3) (4) (4) (%) 4,676 11,944 39.1 8,204 11,944 68.7 93

(1) (2) 45.94 260 (3) (4) 200 76.2 1.1 2015 3 31 39.1% 2016 3 31 68.7% (i) 2016 3 31 (ii) 94

266.3 419.7 9.5% (i) (ii) (i) (ii) PUR (iii) 7 95

80.0% [ ][ ] [ ]% [ ] (i) (ii) (iii)(iv) [ ] [ ] (i) (ii) (iii) (iv) 96

[ ][ ][ ]%[ ] (i) (ii) (iii) (i) (ii) [ ] Lucky-PIP 97

[ ] [ ] (i) (ii) (iii) (iv) (v) (vi) (i) 12 (ii) 12 18 2015 2016 3 31 0.3 1.5 98

33 40 (%) (%) (1) 17,477 74.4 28,430 59.6 (2) 6,012 25.6 19,243 40.4 23,489 100.0 47,673 100.0 (1) (2) 99

9.2 12.7 39.3% 26.7% 17.2 39.1 73.2% 82.1% (%) 1. A 9,224.7 39.3 2. B 2,983.4 12.7 3. C 1,949.8 8.3 4. D 1,607.6 6.8 5. E 1,433.8 6.1 1. A 12,726.7 26.7 2. F 10,668.2 22.4 3. B 7,080.4 14.9 4. D 5,109.5 10.7 5. G 3,546.6 7.4 100

(a) (b) 30% 50% (c) 30 45 (d) 12 12 18 (e) (f) (i)lucky-pip CFC (ii) Lucky-PIP CFC 316 (iii) Lucky-PIP CFC HCFC 30 45 30% 50% 5% 101

1. (i) (ii) HVAC 2. (i) (ii) HVAC 3. (i) (ii) 4. (i) (ii) HVAC (iii) HVAC HDPE (i) (ii) (iii) 5.1 9.2 102

1.2 1.9 23.8% 21.2% 3.8 6.4 73.8% 69.8% 1. A HDPE 23.8 2. B (1) 18.6 3. C 15.4 4. D HDPE 9.3 5. E 6.7 1. E 21.2 2. A HDPE 21.2 3. B (1) 17.2 4. F HDPE 6.1 5. C 4.3 (1) B B 103

30 60 5% 493,000 90,000 5.2% 0.5% 90% 12 18 10% 104

5% 105

ISO 90012008 ISO ISO 90012008 (i) (ii) 2.2 1.6 106

18.6% (i) (ii) (iii) 188 8 15,500 74,500 107

21 (%) 4 19.0 1 4.8 6 28.6 8 38.1 2 9.5 21 100.0 5.7 9.5 24.3% 20.0% 12. 108

12 9 12 2 6 1 5 B. 109

United Charitable Fund Limited 0.2 200.0% 0.6 D. Lucky-PIP www.linkthebest.com.hk 110

HVAC A. [ ] CT Partners Consultants Limited [ ] 111

[ ] 112 57 201 [ ] [ ] 112

[ ] [ ] CT Partners Consultants Limited HKEx-GL 63 13 113

(i) (ii) C. 282 347 114

80,640.0 111,888.0 2014 3 1 2016 2 29 20,000 ] 480,000 115

116

56 1999 5 12 2016 6 23 64 1996 1 4 2016 5 17 36 2016 2 1 2016 6 23 60 2016 2016 117

55 2016 2016 37 2016 2016 37 2016 2 1 56 1999 5 12 2000 3 2016 6 23 2016 118

1981 11 1983 11 1987 11 1991 9 1995 8 30 1981 7 1981 9 Hi Tak Thermal & Acoustic Insulation Engineering Ltd 1982 1 1984 8 HMT Consort (H.K.) Ltd 1989 1992 1994 10 1994 10 1999 4 64 2016 5 17 2016 1996 1 Jolly Fine Speedy Racer 197710 198211 1986 10 119

1982 4 1984 2 1985 3 (IMechE) 1985 7 1994 10 39 1977 6 1979 4 1979 5 HMT Consort (H.K.) Ltd 1985 12 46319861198612G.E.C. (Hong Kong) Limited 1987 1 1989 3 1995 11 2015 12 1995 2 2015 12 1993 4 2003 4 17 2003 4 17 291AA 2004 2005 2003 1 2013 7 2013 7 2015 2006 11 2016 11 2007 8 2010 9 2011 8 3620162 2016 6 23 2016 [--] 120

2002 5 2011 12 2007 8 2008 4 2009 6 2010 3 14 2001 12 2006 7 2006 9 2011 6 2012 12 2014 2 2016 4 60 2016 2002 10 1993 6 (AICPA) 2012 10 AICPA 2001 4 12 2001 121

4 12 291AA 552016 1986 8 15 1997 2007 2011 5 372016 2002 6 2005 11 2007 7 2008 10 2008 10 2010 6 2013 8 Goldin Real Estate Financial Group (Hong Kong) 20131219 Gigaset AG [ ] 122

37 2016 2 2001 6 2002 10 2003 8 2002 10 2003 8 2007 7 2013 5 PER International Limited 2014 2 2016 1 Compass Offices 64 1977 4 (HKCPA) 15 [ ] 2016 C.3.3 2016 3 123

B.1.2 2016 1 2 A.5.2 2016 3 6A.19 6A.23 (i) (ii) (iii) [ ] (iv) 17.11 124

[ ] 18.03 [ ] [ ] 2015 2016 3 31 1.0 3.4 2015 2016 3 31 2017 3 31 1.4 240,000 125

12. 126

[ ] [ ] Jolly Fine [ ]% 2002628 2016 6 25 [ ] [ ] 11.04 (1) (2) 127

18.2% (i) (ii) (iii) Southa Engineering (Macau) Limited 28 100 HVAC HVAC HVAC HVAC (1) (2) Lucky-PIP [ ] 128

[ ] [ ] [ ] [ ] (a) (b) (c) (d) (a) (b) 129

(d) (e) (f) (a) (b) (c) (d) (e) (a) 131

(b) 30% [ ] [ ] (a) (b) (c) (d) (e) 132

(f) 133

1. 99.9% 0.1% 50.7%24.6%24.6% [ ] 431,000 [ ] 2. 99.9% 0.1% 50.7%24.6% 24.6% [ ] 350,000350,000 134

[ ] 3. 1,000,000 5.25% 9,000 [ ] 135

[ ] [ ] [ ] XV 2 3 336 10% [ ] 1 [ ] [ ] 1 [ ] Jolly Fine 2 (L) 100% [ ] (L) [ ]% 2 3 (L) 100% [ ] (L) [ ]% 4 (L) 100% [ ] (L) [ ]% 2 3 (L) 100% [ ] (L) [ ]% 5 (L) 100% [ ] (L) [ ]% 2 3 (L) 100% [ ] (L) [ ]% 6 (L) 100% [ ] (L) [ ]% 2 3 (L) 100% [ ] (L) [ ]% 7 (L) 100% [ ] (L) [ ]% 2 3 (L) 100% [ ] (L) [ ]% 8 (L) 100% [ ] (L) [ ]% 136

(1) L (2) Jolly Fine (3) Jolly Fine [ ]% [ ]% [ ]% [ ]% [ ]% 2016 6 25 Jolly Fine (4) (5) (6) (7) (8) [ ] [ ] XV 23 10% 137

[ ] [ ] 2,000,000,000 20,000,000 2 0.01 0.02 [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 11.23(7) [ ] 25% [ ] [ ] [ ] [ ] 138

(a) [ ] [ ] 20% (b) (a) (b) (c) 3. 2016 [ ] [ ] [ ] [ ] [ ] 10% 139

6. (a) (b) (c) 3. 2016 12. 140

2015 2016331 2015 18.6% 1995 2002 HVAC 2006 CFCHCFC (i) (ii) (i) (ii) 141

14 2006 Lucky-PIP Lucky-PIP 2015 3 31 23.5 103.0% 2016 3 31 47.7 2015 3 31 7.9 91.1%2016331 15.1 [ ] [ ] 2016 3 31 18.8 2015 3 31 138.0% 2016 5 17 [ ] (i) (ii) (iii) 2015 2016 3 31 142

2015 2016 3 31 2 2015 3 31 9.4 81.9%201633117.1 143

2015 2016 3 31 4.1 10.4 43.9%60.9% 2015 2016 3 31 4.0%8.0% 12.0% 12.0% 8.0% 4.0% 4.0% 8.0% 12.0% 2015 12 31 (497) (331) (166) 166 331 497 497 331 166 (166) (331) (497) 2016 12 31 (1,248) (832) (416) 416 832 1,248 1,248 832 416 (416) (832) (1,248) 2015 2016 3 31 2.6 3.1 27.2% 18.1% 608 32.5 144

2015 2016 3 31 4.0% 8.0% 12.0% 12.0% 8.0% 4.0% 4.0% 8.0% 12.0% 2015 12 31 (307) (205) (102) 102 205 307 307 205 102 (102) (205) (307) 2016 12 31 (370) (247) (123) 123 247 370 370 247 123 (123) (247) (370) (i) (ii) (iii) (vi) (v) (vii) 4 5 145

(i) (ii) (iii) (iv) (v) 146

147

3 31 2015 2016 (%) (%) 23,489 100.0 47,673 100.0 (9,428) (40.1) (17,073) (35.8) 14,061 59.9 30,600 64.2 288 1.2 583 1.2 5 0.0 1 0.0 (619) (2.6) (880) (1.8) (4,198) (17.9) (7,553) (15.8) [ ] [ ] [ ] (4) (0.0) (4) (0.0) 9,533 40.6 19,056 40.0 (1,607) (6.8) (3,929) (8.2) 7,926 33.7 15,127 31.7 148

3 31 2015 2016 509 462 18,092 14,044 8,381 8,338 150 171 9,711 5,706 10,070 5,997 3 31 2015 2016 11,056 16,236 669 68 (5,000) (19,200) 6,725 (2,896) 2,221 8,946 8,946 6,050 149

2015 3 31 23.5 103.0% 2016 3 31 47.7 3 31 2015 2016 (%) (%) 12,653 53.9 32,420 68.0 7,236 30.8 9,023 18.9 2,162 9.2 4,905 10.3 1,438 6.1 1,325 2.8 23,489 100.0 47,673 100.0 2015 3 31 12.7 155.1% 2016 3 31 32.4 3 31 2015 2016 (%) (3) (%) (3) 8,190 64.7 4,677 (1) 1.8 22,952 70.8 7,798 (1) 2.9 4,463 35.3 167 (2) 26.7 9,468 29.2 344 (2) 27.5 12,653 100 4,844 32,420 100 8,142 150

(1) 200 76.2 1.1 (2) (3) (i) (ii) (iii) 2015 3 31 7.2 25.0% 2016 3 31 9.0 3 31 2015 2016 (%) (%) 5,529 76.4 8,579 95.1 1,707 23.6 444 4.9 7,236 100.0 9,023 100.0 2016 3 31 2015 3 31 2.2 122.7% 2016 3 31 4.9 151

2015 2016 3 31 1.4 1.3 3 31 2015 2016 (%) (%) (1) 17,477 74.4 28,430 59.6 (2) 6,012 25.6 19,243 40.4 23,489 100.0 47,673 100.0 (1) (2) 2015 3 31 17.5 62.3% 2016 3 31 28.4 (i) (ii) 2015 3 31 6.0 220.0% 2016 3 31 19.2 (i) (ii) 2016 3 31 152

2015 3 31 9.4 81.9% 2016 3 31 17.1 3 31 2015 2016 (%) (%) 4,140 43.9 10,400 60.9 2,562 27.2 3,086 18.1 493 5.2 90 0.5 350 3.7 350 2.1 (1) 1,883 20.0 3,147 18.4 9,428 100.0 17,073 100.0 (1) (i) (ii) HDPE 2016 3 31 2015 3 31 4.1 153.7% 2016 3 31 10.4 2015 3 31 2.6 19.2% 2016 3 31 3.1 (i) (ii) 2016 3 31 153

2015 3 31 493,000 201633190,000 2015 2016331 350,000 [ ] 2015 3 31 14.1 117.0% 2016 3 31 30.6 2015 2016 3 31 59.9% 64.2% 2015 3 31 0.3 100.0% 2016 3 31 0.6 3 31 2015 2016 (%) (%) 240 83.4 220 37.7 9 3.1 1 0.3 1 0.2 38 13.2 362 62.1 288 100.0 583 100.0 (i) 20,000 154

2016 2 29 2016 3 31 (ii) 2013 7 24 1.0 2014 6 4 (iii) (iv) 2015 3 31 5,000 2016 3 31 1,000 2015 3 31 0.6 50.0% 2016 3 31 0.9 3 31 2015 2016 (%) (%) 358 57.8 475 54.0 261 42.2 405 46.0 619 100.0 880 100.0 2015 3 31 0.4 25.0% 2016 3 31 0.5 2016 3 31 2015 3 31 0.3 33.3% 2016 3 31 0.4 155

2015 3 31 4.2 81.0% 2016 3 31 7.6 3 31 2015 2016 (%) (%) 2,798 66.7 5,974 79.1 163 3.9 568 7.5 179 4.3 148 2.0 167 4.0 124 1.6 172 4.1 (1) 719 17.0 739 9.8 4,198 100.0 7,553 100.0 (1) 2015 3 31 2.8 114.3% 2016 3 31 6.0 (i) 2016 3 31 (ii) 2016 3 31 2015 3 31 0.2 200.0% 2016 3 31 0.6 156

2015 2016 3 31 179,000 148,000 2015 2016 3 31 167,000 124,000 2015 3 31 172,000 2014 4 2014 7 2014 7 2015 3 31 [ ] [ ] [ ] 2016 3 31 [ ] [ ] [ ] 2015 2016331 4,000 16.5% 2015 3 31 1.6 143.8% 2016 3 31 3.9 2015 2016 3 31 16.9% 20.6% 2015 2016 3 31 [ ] 157

2015 3 31 23.5 103.0% 2016 3 31 47.7 2015 3 31 12.7 155.1% 201633132.4 (i) (ii) 2015 3 31 5.5 56.4% 2016 3 31 8.6 (i) (ii) (iii) 2015 3 31 1.7 76.5% 2016 3 31 0.4 2015 3 31 2.2 122.7% 2016 3 31 4.9 158

2015 2016 3 31 1.4 1.3 2015 3 31 9.4 81.9% 2016 3 31 17.1 (i) (ii) 2015 3 31 14.1 117.0% 2016 3 31 30.6 2015 3 31 59.9% 2016 3 31 64.2% (i) HDPE 2016 3 31 (ii) 2015 3 31 0.3 100.0% 2016 3 31 0.6 2015 3 31 5,000 2016331 1,000 2015 3 31 0.6 50.0% 20163310.9 (i) 159

(ii) 2015 3 31 4.2 81.0% 2016 3 31 7.6 (i) (ii) [ ] 2016331[ ][ ] [ ]% [ ] [ ] 2015 2016 3 31 4,000 2015 3 31 1.6 143.8% 2016 3 31 3.9 2015 3 31 7.9 91.1% 2016 3 31 15.1 2015 2016331 360,000313,000 160

(i) (ii) 3 31 2015 2016 (%) (%) 2,207 98.4 1,531 96.2 36 1.6 60 3.8 2,243 100.0 1,591 100.0 2015 3 31 2.2 27.3% 2016 3 31 1.6 2016 3 2015 3 2015 3 31 2.2 31.8% 2016 3 31 1.5 2015 3 31 36,000 2016 3 31 60,000 3 31 2015 2016 (1) 65 41 (1) 2015 2016 3 31 365 161

2015 3 31 65 2016 3 31 41 2016 3 31 2016331 2015331 2016531 2016331 47.0% 3 31 2015 2016 5,179 4,647 1,362 1,905 6,541 6,552 (149) (149) 6,392 6,403 (i) (ii) (i) (ii) [ ] 2015 3 31 5.2 11.5% 2016 3 31 4.6 2016 3 2015 3 2015 3 31 1.4 35.7% 2016 3 31 1.9 2016 3 31 [ ] 2015 2016331 6.4 162

3 31 2015 2016 1 30 5,171 4,079 31 60 8 558 60 10 5,179 4,647 30 45 2015 2016 3 31 3 31 2015 2016 (1) 61 37 (1) 2015 2016 3 31 365 2015 3 31 61 2016 3 31 37 2016 3 31 163

2016 5 31 2016 3 31 91.6% 2015331 260,000 20,000 2016 2 29 2016 3 31 3 31 2015 2016 309 128 614 5,651 2,215 416 1,889 6,990 4,232 (i) (ii) (iii) (iv) [ ] 2015 3 31 7.0 40.0% 2016 3 31 4.2 (i) 2015 3 31 5.7 61.4% 2016 3 31 2.2 2016 3 31 (ii) 2016 3 31 2016 3 164

2015 3 31 0.4 375.0% 2016 3 31 1.9 2016 3 31 [ ] 3 31 2015 2016 1 30 923 99 31 60 29 923 128 30 60 2016 3 31 3 31 2015 2016 (1) 27 11 (1) 2015 2016 3 31 365 165

2015 3 31 27 2016 3 31 11 2016 5 31 2016 3 31 (i) 12 (ii) 12 18 2015 2016 3 31 0.3 1.5 (i) (ii) 2016331 2015 2016 3 31 28 (i) (ii) [ ] [ ] [ ] 166

3 31 2015 2016 11,056 16,236 669 68 (5,000) (19,200) 2,221 8,946 8,946 6,050 (i) (ii) (iii) (i) (ii) 2016 3 31 16.2 19.1 0.2 19.3 3.6 (i) 2.8 2016 3 31 2015 3 31 (ii)2.4 (i)1.2(ii)0.7 (iii) 0.3 167

2015 3 31 11.1 9.5 0.2 9.7 1.6 (i) 5.8 (ii) 0.3 (i) 2.9 (ii) 1.1 (iii) 0.5 2016 3 31 68,000 251,000 184,000 2015 3 31 669,000 1.0 345,000 2015 2016 3 31 5.0 19.2 168

3 31 4 30 2015 2016 2016 2,243 1,591 [1,658] 6,392 6,403 [6,784] 260 [ ] 251 [ ] [ ] 8,946 6,050 [4,485] 18,092 14,044 [12,927] 6,990 4,232 [2,809] 274 1,484 [1,484] 1,117 2,622 [2,670] 8,381 8,338 [6,963] 9,711 5,706 [5,964] 20153319.7 41.2%20163315.7 (i) 2015 3 31 8.9 2016 3316.1 2016331 (ii) 2015 3 31 0.3 2016 3 31 1.5 2015 3 31 7.0 2016 3 31 4.2 2016 3 31 2016 3 31 5.7 5.3% 2016 4 30 6.0 (i) 2016 3 31 4.2 2016 4 30 2.8 (ii) 2016 3 31 6.4 2016 4 30 6.8 (iii) 2016 3 31 1.6 2016 4 30 1.7 2016 3 31 6.1 2016 4 30 4.5 169

2015 2016 3 31 2015 2016 3 31 240,000 220,000 3 31 2015 2016 220 20,000 2016 2 29 3 31 2015 2016 894 894 1,863 969 2,757 1,863 170

2016 4 30 2016 3 31 [ ] [ ] 12 2016 4 30 2016 3 31 171

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 2016 3 31 [ ] [ ] [ ] [ ] 2017 3 31 [ ] [ ] (i) [ ] (ii)[ ] [ ] 2017 3 31 [ ] [ ] 2017 3 31 [ ] 3 31 3 31 2015 2016 (1) 59.9% 64.2% (2) 33.7% 31.7% (3) 42.6% 104.3% (4) 78.7% 252.2% (5) 2.2 1.7 (6) (1) 100% (2) 100% (3) 100% (4) 100% 172

(5) (6) 100% 2015 3 31 59.9% 2016 3 31 64.2% 2015 3 31 33.7% 2016 3 31 31.7% [ ] 3.7 2016331 39.5% 2015 3 31 42.6% 2016 3 31 104.3% 2016 3 31 2015 3 31 2016 3 31 2015 3 31 2016 3 31 2015 3 31 78.7% 2016 3 31 252.2% (i) 2016 3 31 2015 3 31 (ii)2016 3 31 2015 3 31 2016 3 31 2015 3 31 2.2 2016 3 31 1.7 2016 3 31 2015 2016 3 31 173

(i) (ii) (iii) (iv) 2015 2016 2015 2016 4 4 (26) (32) 52 50 ( ) ( ) 174

2015 2016 3 31 69.5% 72.5% 2015 2016 3 31 98.3% 99.7% 2015 2016 3 31 73.2% 82.1% 2015 3 31 967 967 967 2016 3 31 1,817 1,817 1,817 2016 5 17 2016 3 31 2015 2016 3 31 5.0 19.2 [ ] 175

2015 2016 3 31 16.5% 14 [ ] [ ] [ ] 2016 3 31 (i) (ii) (iii) 18 176

16.0 13 8.4 5 2 17 17.15 17.21 177

[ ] 2020 419.7 9.5% 2011 18.1 2015 54.5 31.6% 163.7 2015 2020 24.6% 2019 3 31 178

[ ] 2019 3 31 2017 3 31 [ ] [ ] [ ] [ ] [ ] [ ] 179

[ ] 2017 9 30 [ ] [ ] [ ] [ ] [ ] [ ] 180

[ ] 2018 3 31 2018 9 30 [ ] [ ] [ ] [ ] [ ] [ ] 181

[ ] 2018 9 30 PUR [ ] [ ] [ ] [ ] [ ] [ ] 182

[ ] 2019 3 31 [ ] [ ] [ ] [ ] 2019 3 31 183

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 184

[ ] [ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ][ ][ ] [ ](i)[ ] [ ] [ ] (ii)[ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] (i) [ ] [ ] (ii)[ ] [ ] [ ] [ ] [ ] [ ] [ ]% [ ] [ ] [ ] [ ] [ ] 185

[ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ][ ][ ] [ ] 2016 3 31 2017 9 30 2018 3 31 2018 9 30 2019 3 31 (%) [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 100.0 [ ] [ ] [ ] 2019 3 31 [ ] [ ][ ] 186

[ ] [ ] [ ] (a) [ ] (b) [ ] [ ] (c) [ ] [ ] [ ][ ] [ ] (d) [ ] 18.03 [ ] (e) [ ] 187

[ ] [ ] 188

[ ] 189

[ ] 190

[ ] 191

[ ] 192

[ ] 193

[ ] [ ] [ ] [ ][ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] [ ] 2.5% [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] 2017 3 31 [ ] [ ] 194

[ ] [ ] 195

[ ] [ ] 196

[ ] [ ] 197

[ ] [ ] 198

2015 2016331 [ ][ ] 2016 5 17 2016 3 31 2015 2016 * 1995 12 28 400,000 100% 100% 100% Speedy Racer Limited Speedy Racer 2016 1 12 1 # 100% I-1

* # Speedy Racer 2016 1 12 2016 4 19 1 Speedy Racer 3 31 Speedy Racer 2015 2016 3 31 3.340 E 2 E 2 2015 3 31 2016 3 31 I-2

(A) 3 31 2015 2016 8 23,489 47,673 (9,428) (17,073) 14,061 30,600 9 288 583 10 5 1 (619) (880) (4,198) (7,553) [ ] [ ] 11 (4) (4) 12 9,533 19,056 14 (1,607) (3,929) 7,926 15,127 I-3

(B) 3 31 2015 2016 17 360 313 19 149 149 509 462 18 2,243 1,591 19 6,392 6,403 20 260 21 251 21 8,946 6,050 18,092 14,044 22 6,990 4,232 23 274 1,484 1,117 2,622 8,381 8,338 9,711 5,706 10,220 6,168 24 132 133 25 18 38 150 171 10,070 5,997 26 400 400 9,670 5,597 10,070 5,997 I-4

(D) 3 31 2015 2016 9,533 19,056 216 231 (10) (1) 9,739 19,286 (1,117) 652 (2,907) (11) (240) 260 5,781 (2,758) 272 1,211 11,528 18,640 (472) (2,404) 11,056 16,236 20 1,004 10 1 (345) (184) 251 669 68 (5,000) (19,200) 6,725 (2,896) 2,221 8,946 8,946 6,050 I-6

(E) 1. 2016517 2. Speedy Racer 2015 5 2016 3 31 1995 12 28 2006 12 27 200,000 50% 50.736%24.632% 24.632% [ ] (a) 2016 1 12 Jolly Fine 2016 3 30 Jolly Fine 1.00 (b) 2016 5 10 Jolly Fine Jolly Fine Jolly Fine 6,341 3,079 3,079 Jolly Fine 50.736%24.632% 24.632% (c) 2016 5 30 Jolly Fine 1,954 1,704 2016 5 30 Jolly Fine 250 I-7

(d) (e) (f) 2016 5 17 380,000 38,000,000 0.01 2016 5 17 0.01 Jolly Fine 2016 1 12 Speedy Racer 2016 4 19 1.00 2016 6 17 1 Speedy Racer 1 0.01 Jolly Fine Jolly Fine Speedy Racer Speedy Racer 50%Jolly Fine 12,500 1.00 Jolly Fine Speedy Racer Speedy Racer Jolly Fine 50% Speedy Racer 1.00 2015 2016 3 31 436 2015 3 31 2016 3 31 406(2) 407(2) (3) I-8

3. 2015 4 1 9 1 15 1 16 2 11 3 15 15 1 1 3 16 3 38 16 3 41 27 3 10 28 4 10 3 12 28 2012 2014 3 7 5 12 5 1 2018 1 1 2 2019 1 1 3 2016 1 1 4 5 2017 1 1 9 2009 9 9 2010 2013 9 2015 a b 9 39 I-9

9 9 39 9 39 39 9 9 15 15 15 18 11 15 I-10

15 15 15 15 16 16 17 12 16 17 29 2016 3 31 1,863,000 16 4. 2 17 2 36 I-11

I-12

I-13

I-14

I-15

I-16

5. 4 2015 2016 3 31 5,179,000 4,647,000 I-17

12 12 18 2015 2016 3 31 274,000 1,484,000 6. E 23 7. 4 3 31 2015 2016 14,641 10,701 967 1,817 I-18

2015 2016 2015 2016 4 4 (26) (32) 52 50 2015 2016 3 31 69.5% 72.5% 2015 2016 3 31 98.3% 99.7% I-19

1 2015 3 31 967 967 967 2016 3 31 1,817 1,817 1,817 8. 8 I-20

3 31 2015 2016 12,653 32,420 7,236 9,023 2,162 4,905 1,438 1,325 23,489 47,673 10% 3 31 2015 2016 A 9,225 12,727 B * 10,668 C 2,983 7,080 D * 5,109 9. * 10% 3 31 2015 2016 240 220 9 1 1 38 362 288 583 I-21

10. 3 31 2015 2016 5 1 11. 2015 2016 4 4 12. 3 31 2015 2016 111 149 105 82 216 231 13 863 1,116 135 2,270 24 25 1,022 3,411 4,409 5,776 289 346 5,720 9,533 41 60 4,140 10,400 894 894 I-22

13. 2016 5 17 3 31 2015 2016 1 863 1,092 135 2,270 24 24 1,022 3,386 2 24 1 25 (1) (2) 2016 6 23 I-23

2015 2016 3 31 3 31 2015 2016 1,239 1,344 178 396 81 92 1,498 1,832 3 31 2015 2016 1,000,000 4 4 14. 3 31 2015 2016 1,572 3,944 15 (35) 1,587 3,909 25 20 20 1,607 3,929 16.5% I-24

3 31 2015 2016 9,533 19,056 16.5% 1,573 3,144 44 815 15 (35) (25) 5 1,607 3,929 15. 2 16. 2015 2016 3 31 2015 2016331 5,000,00019,200,000 I-25

17. 2014 4 1 221 2,543 107 2,871 345 345 2015 3 31 221 2,888 107 3,216 184 184 2016 3 31 221 3,072 107 3,400 2014 4 1 121 2,423 96 2,640 44 161 11 216 2015 3 31 165 2,584 107 2,856 30 201 231 2016 3 31 195 2,785 107 3,087 2015 3 31 56 304 360 2016 3 31 26 287 313 20% 20% 30% 30% 18. 3 31 2015 2016 2,207 1,531 36 60 2,243 1,591 I-26

19. 3 31 2015 2016 5,179 4,647 1,362 1,905 6,541 6,552 (149) (149) 6,392 6,403 2015 3 31 17,000 47,000 30 45 3 31 2015 2016 1 30 5,171 4,079 31 60 8 558 60 10 5,179 4,647 2015 2016 3 31 100% 99.8% 2016 3 31 10,000 3 31 2015 2016 1 60 10 I-27

20. 2014 2 28 2014 3 1 2015 2 28 20,000 2015 2 27 2015 3 1 2016 2 29 2015 2016 3 31 260,000 2016 2 29 29 2014 4 1 1,004,000 2015 3 31 1,004,000 21. 2015 3 31 251,000 2016 3 31 3 31 2015 2016 52 50 4 4 2015 2016 3 31 0.01% 22. 3 31 2015 2016 309 128 614 5,651 2,215 416 1,889 6,990 4,232 I-28

30 60 3 31 2015 2016 1 30 923 99 31 60 29 923 128 23. 2014 4 1 23 251 2015 3 31 2015 4 1 274 1,210 2016 3 31 1,484 12 12 18 24. 3 31 2015 2016 111 132 21 1 132 133 I-29

25. 2014 4 1 2 14 (20) 2015 3 31 2015 4 1 (18) 14 (20) 2016 3 31 (38) 26. 2016 5 17 380,000 38,000,000 0.01 2016 5 17 0.01 Jolly Fine 2014 4 1 2015 2016 3 31 27. 2000 12 5% 15% 5% 1,500 2014 6 1 1,250 5%1,500 2014611,250 65 313,000 371,000 2015 2016 3 31 I-30

28. 3 31 2015 2016 (i) 829 656 (ii) 240 220 (iii) 9 (iii) 522 350 (i) (ii) (iii) Southa Engineering (Macau) LimitedSoutha Engineering (Macau) Limited 3 31 2015 2016 863 1,116 135 2,270 24 25 1,022 3,411 I-31

29. 2015 2016 3 31 240,000 220,000 3 31 2015 2016 3 31 2015 2016 894 894 1,863 969 2,757 1,863 (F) Jolly Fine Limited (G) 2016 3 31 I-32

(H) 2016 3 31 [ ] I-33

2016 3 31 A. 7 31[ ] [ ] 2016 3 31 2016 3 31 [ ] 2016 3 31 2016 3 31 [ ] (1) [ ] (2) (3) [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] (1) 2016 3 31 II-1

(2) [ ][ ] [ ][ ] [ ][ ] [ ] [ ] 2016 3 31 [ ] [ ] (3) 2 [ ] [ ] [ ] 2016331 [ ] (4) 2016 3 31 II-2

[ ] II-3

[ ] II-4

[ ] II-5

2016 5 17 1. (a) (b) 2. 2016 (a) (i) (ii) III-1

(iii) (a) (b) (c) (d) (e) (f) (g) (h) (iv) III-2

30 (v) (vi) (vii) 20 III-3

20 14 14 20 (b) (i) III-4

(aa) (bb) (cc) (dd) (ee) (ff) (gg) III-5

(hh) (ii) III-6

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

(vi) (vii) (viii) III-8

(aa) (bb) (cc) (dd) (i) (ii) III-9

(ee) (ix) (c) (d) (i) 15 III-10

(ii) (a) (b) (A) (B) (C) III-11

(iii) 15 (iv) 21 14 (i) (ii) 95% III-12

(v) (vi) III-13

(e) 21 21 21 III-14

(f) (i) (ii) (iii) (aa) (bb) III-15

20 (g) (h) 3(f) III-16

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

3. 2016 5 17 (a) (b) (i) (ii) (iii) 37 (iv) (v) III-18

(e) (f) Foss v. Harbottle (g) (h) (i) (ii) (iii) III-20

(Tax Information Authority) (Tax Information Authority Law)2013 (i) (j) (Tax Concessions Law)2011 6 (i) (ii) (aa) (bb) 2011 6(3) 2016 20 (k) III-21

(l) (m) (n) 2013 (o) 30 (p) (i) (ii) (iii) III-22

(i) (ii) (q) 75% III-23

(r) 90% (s) 4. III-24

1. 2016 5 17 188 8 2016 16 2. (a) 380,000.00 38,000,000 0.01 2016 5 17 Jolly Fine (b) 2016 6 17 1.00 Speedy Racer 0.01 Jolly Fine Jolly Fine (c) 2016 1,962,000,000 380,000 38,000,000.00 0.01 20,000,000.00 2,000,000,000 0.01 (d) [ ] [ ] 20,000,000.00 2,000,000,000 [ ] [ ] [ ] IV-1

3. 2016 2016 (a) (b) 1,962,000,000 0.01 380,000.00 38,000,000 0.01 20,000,000 2,000,000,000 0.01 (c) 12. [ ] [ ] (d) (i) [ ] (ii) [ ] [ ] [ ] (i) [ ] [ ] [ ][ ] (ii) [ ] [ ] [ ] [ ] 2016 IV-2

(iii) [ ] [ ] (aa) [ ] 20% [ ] (bb) (iii) (iv) [ ] 10% [ ] (iv) 4. [ ] 5. IV-3

6. (a) (i) [ ] [ ] 10% (ii) IV-4

(iii) (iv) 10% 10% 30 5% (v) [ ] IV-5

(vi) (1) (2) (vii) 30 (b) [ ] [ ] [ ] (c) IV-6

(d) (e) 26 25% IV-7

7. (a) 2016 6 17 1.00 Speedy Racer 0.01 Jolly Fine (b) Jolly Fine Speedy Racer 2016 Jolly Fine 200,000 50% Speedy Racer, Speedy Racer (c) Speedy Racer 2016 200,000 50% Speedy Racer, Jolly Fine 12,500 (d) (e) (f) [ ] 8. (a) 1. 6,17 300775774 2006 12 08 2016 12 07 IV-8

(b) linkthebest.com.hk 2000 6 16 9. (a) 2016 (a) [ ] (b) 2016 (a) [ ] (b) IV-9

(b) (i) 1,080,000.0 144,000.0 144,000.0 100,000.0 100,000.0 100,000.0 (ii) 2017331 (iii) 2015 2016 3 31 1.0 3.4 (iv) 2017 3 31 1.4 (v) (vi) (vii) 2016 6 27 240,000 IV-10

(c) [ ] [ ] XV 7 8 352 5.46 5.67 [ ] [ ]% [ ] [ ]% [ ] [ ]% Jolly Fine 25,000 1.00 100% 2 3 (L) 1 Jolly Fine 25,000 1.00 100% 2 3 (L) Jolly Fine 25,000 1.00 100% 2 (L) 3 IV-11

(1) L (2) Jolly Fine XV (3) Jolly Fine [ ]% [ ]% [ ]% [ ]% [ ]% 2016 6 25 Jolly Fine 10. [ ] [ ] [ ] XV 2 3 10% 11. (a) [ ] [ ] [ ] XV 2 3 10% (b) XV 7 8 XV 7 8 352 5.46 5.67 (c) IV-12

[ ] (d) (e) 12. IV-13

(a) (b) (c) (d) (e) (f) (g) (h) IV-14

(a) (b) (d) 1.00 (c) XIVA (i) (ii) 5.48 5.67 12 1% 12 1% IV-15

(d) (i) (ii) (iii) [ ] (e) (i) [ ] 10% [ ] [ ] [ ] [ ] 10% (ii) 10% 10% IV-16

(iii) 10% (iv) 30% 30% (f) (g) (h) (i) IV-17

(i) (ii) (iii) (iv) (e) (c) (j) 14 IV-18

(k) (i) (h) (2) (ii) (h) (l) (m)(iv) IV-19

(m) (i) (ii) (h) (l) (iii) (j) (iv) (k)(i) (v) (vi) (k)(ii) (vii) (g) (viii) IV-20

(n) (o) (p) (q) (i) (ii) 23.03 IV-21

23 (r) 23.04(1) 12 (i) 0.1% (ii) 5 IV-22

(i) (ii) (iii) 23.04(1)(2) (3) (s) (i) [ ] (ii) [ ] 13. Jolly Fine 7. (e) IV-23

(a) [ ] 111 35 43 (b) [ ] [ ] (c) (i) (b) (ii) (iii) (iv) (d) [ ] (i) (ii) (a) 2016 3 31 IV-24

(b) 2016 4 1 [ ] (i) [ ] (ii) [ ] (c) (d) [ ] (e) 2016 3 31 14. 15. [ ] IV-25

16. [ ] (a) (b)[ ] (c) [ ] 10%[ ] [ ] 6A.07 17. [ ] 2019 3 31 18.03 18. 33,540 19. [ ] IV-26

20. 1 6 Appleby CT Partners Consultants Limited 21. 44A 44B 22. 32L 4 IV-27

23. (a) (i) (ii) 0.1% 5 (iii) 2006 2 11 2006 2 11 111 2005 7 15 2006 2 11 7.5 100 2006 2 11 (b) (c) IV-28

[ ] 24. (a) (i) (aa) (bb) (cc) (dd) (ii) 2016 3 31 (iii) 24 (iv) (v) (vi) (vii) (b) [ ] [ ] IV-29

(l) 7. (m) 20. V-2