578564.indb

TM CHINA PIONEER PHARMA HOLDINGS LIMITED 333,334,000 33,334,000 300,000,000 5.001.0%0.003% 0.005% 0.01 01345 32 342C 5.00 4.10 5.001.0%0.003% 0.005% 4.10 5.00 www.hkexnews.hk www.pioneer-pharma.com 1

( 1 ) eipo www.eipo.com.hk (2)................... (3)..................................... (4)............. eipo.......................................... (5)...................................... www.pioneer-pharma.com www.hkexnews.hk............................. www.pioneer-pharma.com www.hkexnews.hk (6)............... www.iporesults.com.hk.......................................... (7).................................... (1) i

( 1 ) (2) www.eipo.com.hk (3) 10. (4) 6. (5) (6) www.hkexnews.hk (7) ii

................................................................... i......................................................................... iii......................................................................... 1......................................................................... 16..................................................................... 26................................................................... 32..................................................................... 33..................................................................... 34........................................................ 55.......................................................... 57...................................................... 59..................................................................... 62..................................................................... 64..................................................................... 83................................................................... 101......................................................................... 116............................................................ 168..................................................................... 175............................................................ 179..................................................................... 186......................................................................... 187..................................................................... 189...................................................... 233......................................................................... 235.............................................................. 245........................................................ 253......................................................... I-1....................................................... II-1................................ III-1..................................................... IV-1...................................... V-1 iii

17 Frost & Sullivan 9.4% 170.5194.4323.7 200.329.9% 27.1% 33.8% 36.3% 93.9105.1202.5106.4 56.5% 53.7% 66.0% 65.2%55.0% 54.0% 62.6% 53.1% 400.1523.4 635.0351.170.1% 72.9% 66.2% 63.7% 72.290.7104.2 56.943.5% 46.3% 34.0% 34.8% 1

219 967 32 1421 3121,589 1,092 67.2%) 2,658 40.5% 17,83985,420 Frost & Sullivan Frost & Sullivan 8% 55.2% 86.4% 2

Frost & Sullivan 14% 17.6% 22.0% 16 100% 80.6% 84.6% 79.7% 79.6% 97.1% 96.7% 94.5% 92.2% 65.4% 61.1% 60.1% 59.1% 19.9% 17.6% 17.5% 16.4% 5.7% 4.1% 4.3% 4.0% 31 500 3

4 570.6 717.8958.729.6% 432.727.4% 551.3 166.1195.7306.7 35.9%29.1% 27.3% 32.0% 133.422.3% 163.2 30.8%29.6% 75.197.0185.7 57.3% 13.2% 13.5% 19.4% 78.142.2% 111.1 18.1% 20.1% (i) (ii)

5

% % % % %... 170,549 29.9 194,437 27.1 323,721 33.8 135,883 31.4 200,257 36.3 (1).......... 400,098 70.1 523,394 72.9 635,002 66.2 296,816 68.6 351,073 63.7........................ 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.0 551,330 100.0... 76,667 19.0 89,387 17.1 121,173 18.6 50,375 16.8 93,883 24.2 (1).......... 327,890 81.0 432,742 82.9 530,805 81.4 248,890 83.2 294,214 75.8........................ 404,557 100.0 522,129 100.0 651,978 100.0 299,265 100.0 388,097 100.0... 93,882 56.5 105,050 53.7 202,548 66.0 85,508 64.1 106,374 65.2 (1).......... 72,208 43.5 90,652 46.3 104,197 34.0 47,926 35.9 56,859 34.8........................ 166,090 100.0 195,702 100.0 306,745 100.0 133,434 100.0 163,233 100.0 6

% % % % %... 55.0 54.0 62.6 62.9 53.1 (1).......... 18.0 17.3 16.4 16.1 16.2........................ 29.1 27.3 32.0 30.8 29.6 (1) Frost & Sullivan 268 603 22.5% 21.1% 1,596 314722 23.2% 20.5% 1,770 Frost & Sullivan 40.0% 21.8% 22.6%........................................... 16.7% 18.4%............................................. 8.7% 9.4%........................................... 8.5% 7.7%........................................... 14.7% 5.0%............................................. 3.8% 4.1% Frost & Sullivan 7

8

................... 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.00 551,330 100............... (404,557) (70.9) (522,129) (72.7) (651,978) (68.0) (299,265) (69.2) (388,097) (70.4)................... 166,090 29.1 195,702 27.3 306,745 32.0 133,434 30.8 163,233 29.6............... 14,453 2.5 15,944 2.2 26,604 2.8 15,073 3.5 42,536 7.7........ 691 0.1 3,922 0.5 3,682 0.4 (3,347) (0.8) (7,091) (1.3)........ (63,811) (11.2) (68,652) (9.6) (92,087) (9.6) (41,375) (9.5) (47,740) (8.6)............... (7,440) (1.3)............... (15,565) (2.7) (18,333) (2.5) (28,670) (3.0) (11,681) (2.7) (13,596) (2.5)............... (4,976) (0.8) (5,490) (0.8) (9,435) (1.0) (4,805) (1.1) (3,820) (0.7)................. (1,160) (0.2)............. 96,882 17.0 123,093 17.1 206,839 21.6 87,299 20.2 124,922 22.7............. (21,805) (3.8) (26,081) (3.6) (21,122) (2.2) (9,194) (2.1) (13,842) (2.6)........ 75,077 13.2 97,012 13.5 185,717 19.4 78,105 18.1 111,080 20.1 9

................................. 26,085 29,488 61,579 82,775................................... 494,853 758,024 866,974 967,200..................................... 520,938 787,512 928,553 1,049,975................................. 460................................... 336,062 594,486 715,728 1,043,839................................... 336,062 594,486 715,728 1,044,299..................................... 184,876 193,026 212,825 5,676.............................. 520,938 787,512 928,533 1,049,975............. 71,205 (21,777) 120,758 41,727 159,325............. 45,912 (147,341) (27,498) (41,643) (25,729)............. (84,642) 106,334 (85,082) 2,694 (97,574)........... 32,475 (62,784) 8,178 2,778 36,022............... 81,861 114,336 51,356 51,356 59,559......... (196) 25 609 560... 114,336 51,356 59,559 54,743 96,141 760.6220.6 209.2 110.650.2 98.6 4.5 Pioneer Pharma (BVI) 10

% % % % %.................... 68,222 12.0 65,579 9.1 94,383 9.9 45,426 10.5 57,884 10.5.................. 25,592 4.5 36,938 5.1 61,683 6.4 25,812 6.0 36,611 6.6.................. 17,567 2.4 38,939 4.1 17,954 4.1 26,379 4.8....... 11,116 1.6 21,756 2.3 8,720 2.0 12,253 2.2......... 6,402 1.1 4,855 0.7 12,466 1.3 14,171 2.6 Zenotec......... 5,896 0.6 2,897 0.5.................. 4,840 0.5 862 0.2 7,653 1.4............ 5 0.0 1,144 0.1 285 0.1 572 0.1................ 48,319 8.5 24,849 3.5 24,268 2.5 12,184 2.8 550 0.1.................... 10,014 1.7 15,034 2.1 26,729 2.8 15,957 3.7 311 0.1.................... 12,000 2.1 18,494 2.6 31,617 3.3 8,683 2.0 40,976 7.4... 400,098 70.1 523,394 72.9 635,002 66.2 296,816 68.6 351,073 63.7 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.0 551,330 100.0 GSP GMP 11

16 13 1671.4% 71.1% 68.7% 66.4% 13 17.1% 22.3% 24.0% 21.3% 147 570.6717.8 958.729.6% 432.727.4% 551.3 166.1 195.7306.735.9% 29.1% 27.3% 32.0% 133.422.3% 163.2 30.8% 29.6% 12

33,334,000 S 300,000,000 25% 28.8% 4.10 5.00 (1)......................................... 5,466.7 6,666.7 (2)................. 0.96 1.18 (1) 1,333,334,000 (2) 1,333,334,000 30% 13

4.55 4.10 5.00 1,439.3 30% 431.8 15% 215.9 5% 72.0 25% 359.8 15% 215.9 10% 143.9 68.7 41.826.9 7.4 3.8 14

Pioneer Pharma (BVI) 75.0% Pioneer Pharma (BVI) 48.5%3.0% Pioneer Pharma (BVI) 15

........... AMG............. amg International GmbH Q3...................................... Asian Strategic Alliance Partners... Asian Strategic Alliance Partners Pte. Ltd. Choe Siaw Lai Catherine Janet Shung Suk Ling 60% 35% 5% Choe Siaw Lai Catherine Janet Shung Suk Ling................ 155...................... 16

................. A. 3...................................................................... 32............................. Pioneer Pharma (BVI) Covex............. Covex, S.A. Covex 24% 17

........................................ Frost & Sullivan.. Frost & Sullivan.............. Grand Hill Technology....... Grand Hill Technology Limited Tam Wai Ming..... eipo................................................ 18

33,334,000......................................... 300,000,000......... S 144A..... 19

............ UBS AG... UBS AG....................................................................................................................... Pioneer Pharma (BVI) 20

................................. Pioneer Medident Pioneer Medident...................... Grand Hill Technology.................................. NovaBay.......... NovaBay Pharmaceuticals, Inc. NovaCal Pharmaceuticals, Inc. NovaCal Pharmaceuticals, Inc. NovaBay Pharmaceuticals, Inc. NovaBay 5.2%......................... 1.0%0.003% 0.005% 21

.............. Pioneer Pharma (BVI)....... 50,000,000 15%................. 60% Pioneer Medident.... Pioneer Medident (SE Asia) Pte. Ltd. 60%......... Pioneer Pharma (BVI).. Pioneer Pharma (BVI) Co., Ltd.......... 70% 22

.................. Q3............... Q3 Medical Devices Limited Q3 21.2%... 144A QualiMed.......... QualiMed Innovative Medizinprodukte GmbH Q3 S............. S......................... 144A......... 144A........................................................ 23

... 571... Li Yanming........ 60%.............. 0.01............................ UBS AG............ UBS AG.................... Pioneer Pharma (BVI)................................................. 24

............................................ 1934....... 1933 eipo......... eipo www.eipo.com.hk eipo..................................... 0.79221.00 6.1431 1.00 25

510(k)........ US Federal Food, Drug, and Cosmetic Act510(k) 90 USFDA510(k)...................................................................................................... 26

......................................................... T.............. COPD............................................ 27

CRO.................................................................................................................................. GMP.... 28

GSP............................................................................................................................................ 29

.................................................................... 0.9%...................................................................................... 30

...................................... USFDA................ 31

32

571V 33

97.1% 96.7% 94.5% 92.2% Polichem 80.9% 78.7% 34

400.1523.4635.0351.1 70.1% 72.9% 66.2% 63.7% 72.290.7104.256.9 43.5% 46.3% 34.0% 34.8% 18.0% 17.3%16.4% 16.2% 35

1613 1671.4% 71.1% 68.7% 66.4% 13 17.1% 22.3% 24.0% 21.3% 147. 36

967 37

500 38

(GSP) 2.8% 17.7% 16.5% 14.3% 13.0% 10.7% 9.4% 7.3% 7.3% 4.4% 4.9% 4.7% 4.7% 2.8% 3.2% 2.4% 3.0% 39

68.7% 66.4% 40

158.8163.5151.2 76.6 209.2 92.7 116.5 50.28.0 50.2 6.08.0 3.5 42.1 98.6 41

NovaBay QualiMed Q3 139 136 213 225 566716689556 42

109.6242.6295.9 299.7 101.6123.1150.7140.4 81.693.4107.794.2 (i) (ii) (iii) (iv) 30 120 180 78.697.6122.2 164.9 54.644.841.847.7 43

44

570.6717.8 958.7 29.6% 432.7 551.327.4% 45

[2008]78 15% [2011]114 15% [2012]000035 15%40% 15% 9% 9%15% 46

[2008]62 [2011]52 200,000 200,00015% 50% Frost & Sullivan 47

48

49

50

10% 10% 51

10% 50% 25% (i)(ii) (iii) (iv) 25% 52

53

75.0% 4.55 3.48 54

8.12 8.12 8.12 3.05 3A.19 13.46 3.28 8.17 3.28 8.17 3.28 (1) (a) 55

(b) 159 (c) 50 3.28 (1) 3.28 8.17 3.28 8.17 3.28 (2) 3.288.17 3.28 3.28 (2) 56

................................................................ 333,334,000 33,334,000 300,000,000 333,334,000 50,000,000.......................... Pioneer Pharma (BVI)............................. 4.10 5.00 1.0% 0.003% 0.005%.................... 50,000,000............................. 50,000,000.................. 1,333,334,000...................................... 30%.................................................................. 0.1% 0.2% 57

................................ 58

................ 3001 88159................ 309 14 402.................. 13 603................ 2 6 923A................ 56A 1101................ 13502................ 41 6 3................ 112A 2 59

8 42 UBS AG 8 52 UBS AG 8 52 99 17 181 27 15 12 77 334 Walkers 18 1501 1507 60

1 11 580 45 46 88 35 99 16 10 61

190 Elgin Avenue George Town Grand Cayman KY1-9005 Cayman Islands 1000 682 26 2605 http://www.pioneer-pharma.com/ 309 14 402 15 8 62

Intertrust Corporate Services (Cayman) Limited 190 Elgin Avenue, George Town Grand Cayman KY1-9005 Cayman Islands 183 17 1712 1716 181 27 33 571000 28 571000 1318 18 63

................................................................................................................................................................................... 64

(i) (ii) 65

GSP GSP GSP GSP GSP GSP 66

GSP GSP 10,000 10,000 30,000 67

2009 2012 68

(1) (2) (3) 2009 243 69

70

115%125% 71

72

73

74

5,000 5003,000 0.05% 75

5% 10,000 50,000 5 15 2011 76

10% 50% 30 142 77

59 59 7559(1) (2) (3) 30 75 59 (1) (2) (3) 78

75 Pioneer Pharma (BVI) 25% 15% 25% 79

10% 10% 15% 70% 15% [2012]000035 15%40% 15% 9%9% 15% [2008]62 26 [2011]52 4 80

(i)(ii) (iii) 5% 17% [2008]62 [2011]52 200,000 200,000 15% 50% 25%5% 25%10% 81

(1) (2) (3) 12 698 (1) 12.5%(2) 698 82

Frost & Sullivan Frost & Sullivan 314,050 519,32013.4%10.1% Frost & Sullivan 577,160 895,75011.6% 23,708 38,35412.8% Frost & Sullivan 42,414 64,536 11.1% 83

100,000 80,000 60,000 40,000 20,000 64,219 57,716 47,156 51,932 40,151 31,405 34,090 35,083 38,35442,414 23,70825,608 30,015 71,764 52,218 46,960 80,156 89,575 64,536 58,036 80,000 60,000 40,000 20,000 0 0 Frost & Sullivan Frost & Sullivan 15,781 24,56511.7% 28,100 46,81513.6% 4,761 7,91713.6% 9,132 15,824 14.7% 13.113.565 7.7%100.6 9.1%122.9 84

Frost & Sullivan 3,000 2,698.6 2,500 2,000 1,500 1,000 500 548.4 400.4 380.7 322.3 226.1 221.9 208.7 199.5 139.1 0 Frost & Sullivan 26.3% 284 %............................. 2,698.6 7,503 8,627 4.8............................. 548.4 3,161 4,291 10.7............................. 400.4 4,865 4,895 0.2............................. 380.7 141 284 26.3............................. 322.3 5,541 4,958 (3.6)............................. 226.1 4,034 3,630 (3.5)............................. 221.9 768 1,163 14.8........................... 208.7 3,598 3,437 (1.5)........................... 199.5 4,760 5,782 6.7........................... 139.1 3,768 3,010 (7.2) Frost & Sullivan 85

5.2% 11.6% 17.9% (%) 20.0 17.9 16.0 12.0 8.9 9.3 9.3 9.4 9.5 11.1 11.2 11.6 8.0 4.0 3.9 5.2 6.2 0.0 Frost & Sullivan 14,540 28,910 18.8% Frost & Sullivan 12.5% 53,670 6,000 5,367 5,000 4,000 3,000 2,000 1,454 1,754 1,998 2,436 2,891 3,351 3,763 4,290 4,792 1,000 0 Frost & Sullivan 86

(2009 2011) 8,500 3,318 15,228 4,506 (2009 2011) 8,500 2020 2020 77 1.3%0.02% 87

6.5% 7.0%2020 2020 30% 88

23,170 57.8% 91% 15% 5% 80% 91% 9% Frost & Sullivan 1,6246,5665,962 Frost & Sullivan 3,4218,44725.4% 20,150 18.5% 89

2,500 2,000 1,708 2,015 1,500 1,000 500 342 447 558 681 845 1,022 1,216 1,447 0 Frost & Sullivan Frost & Sullivan 268 60322.5% Frost & Sullivan 1,596 21.1% 90

180 150 131.9 159.6 120 108.6 90 60 30 26.8 32.6 40.8 49.4 60.3 74.2 89.7 0 Frost & Sullivan Frost & Sullivan 122Frost & Sullivan50 22.7% 277 21.8% 754 50 14622.3%326 20.5% 842 91

50 90 84.2 69.9 75.4 60 30 14.6 12.2 17.6 15.1 21.4 19.4 25.4 24.0 32.6 27.7 39.9 34.2 48.1 41.6 58.0 50.6 62.0 0 Frost & Sullivan Frost & Sullivan 92

Frost & Sullivan 2,2144,815 21.4%12,201 20.1% 14,000 12,201 12,000 10,245 10,000 8,576 8,000 7,101 6,000 4,000 2,000 2,214 2,678 3,265 3,966 4,815 5,872 0 Frost & Sullivan Frost & Sullivan 50% 16.2% 93

Frost & Sullivan 8962,22125.4% 6,102 22.4% 700 600 610.2 500 504.3 400 333.3 410.0 300 200 100 89.6 113.8 143.3 180.6 222.1 271.1 0 Frost & Sullivan 94

Frost & Sullivan314 722 23.2% 1,77020.5% 210 180 177.0 150 120 90 60 30 31.4 40.4 50.2 61.4 72.2 84.0 100.0 121.0 146.3 0 Frost & Sullivan Frost & Sullivan 114 27.0% 298 22.6% 811 20 199 20.8% 42418.8% 959 95

20 120 95.9 90 80.3 81.1 67.1 66.0 60 30 19.9 11.4 25.4 15.0 30.9 19.2 37.2 24.2 42.4 29.8 48.1 35.9 56.9 43.1 53.8 0 Frost & Sullivan Frost & Sullivan 96

Frost & Sullivan 2,509 9,654 40.1% Frost & Sullivan 37,526 31.2% 97

40,000 37,526 35,000 30,000 28,866 25,000 21,868 20,000 15,000 10,000 5,000 2,509 4,054 5,611 7,764 9,654 12,647 16,567 0 Frost & Sullivan Frost & Sullivan 8.7% 9.4% 98

........................................... 16.7% 18.4%............................................. 8.7% 9.4%........................................... 8.5% 7.7%........................................... 14.7% 5.0%............................................. 3.8% 4.1% Frost & Sullivan Frost & Sullivan Frost & Sullivan Frost & Sullivan720,000 Frost & Sullivan Frost & Sullivan 99

Frost & Sullivan Frost & Sullivan Frost & Sullivan Frost & Sullivan Frost & Sullivan Frost & Sullivan 100

Klinge Pharma GmbH (Alfa Wassermann) 100 NovaBay 101

NovaBay QualiMed AMGQ3 1.6 0.41.2 60%0.4 20% 220 18 (i) 60% 40% 99.9% (ii)0.1% 95.1% 4.9% 100% 102

10 2.8 2.8 2.8 85.2 35% 65% 4 70%20% 10% 11 Pioneer Medident Pioneer Medident 66 Pioneer Medident Asian Strategic Alliance Partners 44 Pioneer Medident 103

Asian Strategic Alliance Partners 1 199,99479,996 Pioneer Medident Pioneer Medident 60% Asian Strategic Alliance Partners 40% Pioneer Medident 1 1,000,0001 Asian Strategic Alliance Partners Grand Hill Technology 1 600,000200,000 200,000 60% Asian Strategic Alliance Partners 20% Grand Hill Technology 20% NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay 2.5 2,000,000 NovaBay (a) NovaBay (b) 1.50 NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay NovaBay 5,656 NovaBay 104

2,005,656 NovaBay NovaBay 38,796,5292,000,000 NovaBay NovaBay 5.2% NovaBay 2,000,000 NovaBay 3 NovaBay 10% NovaBay 38,796,529 Q3 QualiMed QualiMed TsunaMed QualiMed QualiMed Q3 QualiMed Q3AMG QualiMed AMG 1.8Q33.2 Q3 38,570 1 750,000 19,284 Q3150,000 1 Q3 Q3 700,000 QualiMedQ3 7,254 Q3 3.5% Q3 45,824 Q3 22.1%Q3 21.2% Q3 (i) Q31.0 Q3 1 Q3 105

10% Q3Q3 (ii) Q31.5 Q3 1.5 Q310% Q3Q3 Q3 Q329.0% Q3 Covex Covex Covex Covex Covex Covex Covex Covex 224% Covex 24% Covex 24% Covex Covex 14A Covex Covex Covex Covex Covex 24% Covex 106

Covex Covex (i) Covex NovaBay QualiMed Q3 (ii) Covex NovaBay QualiMed (iii) NovaBay QualiMed Mathijs van Basten Batenburg Batenburg (iv) NovaBay Q3 QualiMed NovaBay Q3 QualiMed (v) NovaBay Q3 NovaBay Q3 Covex Covex Mavens Covex Covex Mavens 107

(1) 40% 60% 100% (2) (3) 99.9% 0.1% 100% 35% 100% 70% 24% 65% (4) Covex (5) 60% 60% 5.4% Pioneer Medident (6) (7) NovaBay(8) (1) 100% (2) (3) (4) 30% 20% 10% (5) Covex (6) Pioneer Medident 40% Asian Strategic Alliance Partners Asian Strategic Alliance Partners Choe Siaw Lai Catherine Janet Shung Suk Ling 60% 35% 5% Choe Siaw Lai Catherine Janet Shung Suk Ling (7) 40% 20% Asian Strategic Alliance Partners 20% Grand Hill Technology Grand Hill Technology Tam Wai Ming 50% Tam Wai Ming 108

(8) NovaBay NovaBay 120,000NovaBay NovaBay Pioneer Pharma (BVI) Pioneer Pharma (BVI) 55,000,000 1 1 Pioneer Pharma (BVI) Pioneer Pharma (BVI) Pioneer Pharma (BVI) 500,500 Pioneer Pharma (BVI) 1,999,499 Pioneer Pharma (BVI) 5 75,000 Pioneer Pharma (BVI) 1.5% 9.0 Pioneer Pharma (BVI) 3% Pioneer Pharma (BVI) Pioneer Pharma (BVI) Pioneer Pharma (BVI) 5500,000,000 0.01 11 0.01 Pioneer Pharma (BVI Pioneer Pharma (BVI) 99 Pioneer Pharma (BVI) Pioneer Pharma (BVI) 100,100,000 Pioneer Pharma (BVI) 399,899,900 5 109

55,000,000 11 1 1,001,000 1,001,000 3,998,9995 1 50,210,000 100% 19,690,000 35% 300,000 70% 110

70% 20% 10% 210,000 5.0% 3.7% 6.6% 7.9% 137.7 528 51,843,105 7,743,600 60% Pioneer Medident 60% NovaBay Q3 111

60% 10% 112

(1) 48.5% 48.5% 3.0% Pioneer Pharma (BVI) 100% 100% 100% 100% 100% 60% 60% 5.2% 21.2% (2) Pioneer NovaBay (4) Q3 (5) Medident (3) 100% 70% 60% (6) (7) (1) (2) 40% Asian Strategic Alliance Partners 20% Grand Hill Technology 20% Asian Strategic Alliance Partners Choe Siaw Lai Catherine Janet Shung Suk Ling 60% 35% 5%Choe Siaw Lai Catherine Janet Shung Suk Ling Grand Hill Technology Tam Wai Ming 50% Tam Wai Ming (3) Pioneer Medident 40% Asian Strategic Alliance Partners (4) NovaBay NovaBay10%NovaBay NovaBay 120,000NovaBay NovaBay 113

(5) QualiMed AMGQ3 Q3 4.0% Q3 4.7% (6) 30%20% 10% (7) 40% 10% (1) 48.5% 48.5% 3.0% Pioneer Pharma (BVI) 75.0% 25.0% 100% 100% 100% 100% 60% 60% 5.2% 21.2% Pioneer NovaBay (4) Q3 (5) Medident (3) (2) 100% 70% 60% (6) (7) (1) 114

(2) 40% Asian Strategic Alliance Partners 20% Grand Hill Technology 20% Asian Strategic Alliance Partners Choe Siaw Lai Catherine Janet Shung Suk Ling 60% 35% 5%Choe Siaw Lai Catherine Janet Shung Suk Ling Grand Hill Technology Tam Wai Ming 50% Tam Wai Ming (3) Pioneer Medident 40% Asian Strategic Alliance Partners (4) NovaBay NovaBay10%NovaBay NovaBay 120,000NovaBay NovaBay (5) QualiMed AMGQ3 Q3 4.0%Q3 4.7% (6) 30%20% 10% (7) 40% 10% (i)(ii) (iii) Pioneer Pharma (BVI) Pioneer Pharma (BVI) 75 Pioneer Pharma (BVI) 115

17 Frost & Sullivan 9.4% 170.5194.4323.7 200.329.9% 27.1% 33.8% 36.3% 93.9105.1202.5106.4 56.5% 53.7% 66.0% 65.2%55.0% 54.0% 62.6% 53.1% 400.1523.4 635.0351.170.1% 72.9% 66.2% 63.7% 72.290.7104.2 56.943.5% 46.3% 34.0% 34.8% 219 967 116

3121,5891,092 67.2%) 2,658 40.5%17,83985,420 32 14 21 Frost & Sullivan Frost & Sullivan 8% 55.2% 86.4% Frost & Sullivan 14% 17.6% 22.0% 16 100% 80.6% 117

84.6% 79.7% 79.6% 97.1% 96.7% 94.5% 92.2% 65.4% 61.1% 60.1% 59.1% 19.9% 17.6% 17.5% 16.4% 5.7% 4.1% 4.3% 4.0% 31 500 570.6 717.8958.729.6% 432.727.4% 551.3 166.1195.7306.7 35.9%29.1% 27.3% 32.0% 133.422.3% 163.2 30.8%29.6% 75.197.0185.7 57.3% 13.2% 13.5% 19.4% 78.142.2% 111.1 18.1% 20.1% 118

Frost & Sullivan 9.4% Frost & Sullivan 3121,5891,092 67.2%) 2,658 40.5%17,839 85,420 1,200 Frost & Sullivan 268 603 22.5% 119

21.1% 1,596 314 722 23.2% 20.5% 1,770 Frost & Sullivan 40.0% 21.8% 22.6% Frost & Sullivan Frost & Sullivan 8% 55.2% 86.4% Frost & Sullivan 14% 17.6% 22.0% 120

25 32 1421 29.6% 57.3%13.2% 19.4% 20.1% 17 Frost & Sullivan 121

16 100% 20 219 967 13 122

25 32 3121,5891,092 67.2%) 2,658 40.5%17,839 85,42035 1,000 17 20 17 13 20 123

100 124

NovaBay NovaBay 2.5 QualiMed TsunaMed TsunaMed 1.8 QualiMed Q3 0.7 2.5 Asian Strategic Alliance Partners Pioneer Medident 5% (ERP) ERP ERP 125

GSP ERP (i) (ii) 126

127

% % % % %... 170,549 29.9 194,437 27.1 323,721 33.8 135,883 31.4 200,257 36.3 (1).......... 400,098 70.1 523,394 72.9 635,002 66.2 296,816 68.6 351,073 63.7........................ 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.0 551,330 100.0... 76,667 19.0 89,387 17.1 121,173 18.6 50,375 16.8 93,883 24.2 (1).......... 327,890 81.0 432,742 82.9 530,805 81.4 248,890 83.2 294,214 75.8........................ 404,557 100.0 522,129 100.0 651,978 100.0 299,265 100.0 388,097 100.0... 93,882 56.5 105,050 53.7 202,548 66.0 85,508 64.1 106,374 65.2 (1).......... 72,208 43.5 90,652 46.3 104,197 34.0 47,926 35.9 56,859 34.8........................ 166,090 100.0 195,702 100.0 306,745 100.0 133,434 100.0 163,233 100.0 128

% % % % %... 55.0 54.0 62.6 62.9 53.1 (1).......... 18.0 17.3 16.4 16.1 16.2........................ 29.1 27.3 32.0 30.8 29.6 (1) 129

1.03.0 1.0 (CRO) CROCROCRO CRO CRO CRO CRO 0.71.32.00.7 130

219 32 187 967 GSP GSP 3121,5891,092 67.2%) 2,658 40.5%17,83985,420............................... 1,010 1,068 1,092 1,092............................... 2,361 2,569 2,636 2,658................ 4,273 6,761 10,348 17,839................................... 49,411 52,471 79,004 85,420 1,200 131

132

133

134

135

31500 GSP GSP 1,100 5% 10 5.81.0% 136

30 120........................ 522 566 716 689.................. 183 286 186 92................................. 139 136 213 225........................ 566 716 689 556............................... 112 94 125 130........................ 61.................... 5 10 7.................... 4 44........................ 27 33 34 27................................... 139 136 213 225 137

(i) 10.2% 5.6% 5.3% (ii) (iii) 0.84% 1.23% 0.004% 138

49 105 45 45 83 157 72 139

1.00.20.1 0.4 140

CROs NovaBay QualiMed 25 32 % % % % %.................... 68,222 12.0 65,579 9.1 94,383 9.9 45,426 10.5 57,884 10.5.................. 25,592 4.5 36,938 5.1 61,683 6.4 25,812 6.0 36,611 6.6.................. 17,567 2.4 38,939 4.1 17,954 4.1 26,379 4.8....... 11,116 1.6 21,756 2.3 8,720 2.0 12,253 2.2......... 6,402 1.1 4,855 0.7 12,466 1.3 14,171 2.6 Zenotec......... 5,896 0.6 2,897 0.5.................. 4,840 0.5 862 0.2 7,653 1.4............ 5 0.0 1,144 0.1 285 0.1 572 0.1................ 48,319 8.5 24,849 3.5 24,268 2.5 12,184 2.8 550 0.1.................... 10,014 1.7 15,034 2.1 26,729 2.8 15,957 3.7 311 0.1.................... 12,000 2.1 18,494 2.6 31,617 3.3 8,683 2.0 40,976 7.4... 400,098 70.1 523,394 72.9 635,002 66.2 296,816 68.6 351,073 63.7 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.0 551,330 100.0 141

H20100590 H20090246 H20090247 H20090248 H20090181 H20090607 H20090662 H20130596 Polichem H20090934 Polichem H20100044 H20100436 142

Covex H20120267 Zenotec 20 H20080661 (1) H20080660 (1) H20091082 H20110316 H20090611 H20090082 H20100193 H20080355 (2) H20100018 H20130321 H20100212 H20100207 H20120526 H20110005 H20110062 H20130018 H20090507 H20120244 H20090471 H20110413 (1) (1) (2) (1) H2008066117.7% 16.5% 14.3% 13.0%10.7% 9.4% 7.3% 7.3% H20080660 4.4% 4.9% 4.7% 4.7%2.8% 3.2% 2.4% 3.0% (2) (i) (ii) 1% 0.6% 0.5% 0.5% 0.6% 0.4% 0.2% 0.2% 143

Frost & Sullivan 15.5% 885.0 14% 30 39154,944 68.2 65.694.4 17.6% 45.427.4% 57.9 Frost & Sullivan Frost & Sullivan 24.4%1,304 8.0% 28 186696 25.636.961.7 55.2% 25.841.8% 36.6 144

Frost & Sullivan 14.5% 2,920 4.1% Cardinal Health (H.K. Co. Limited 5 6 713 4.8 7.7 Frost & Sullivan 44.3% 1,509 1033135 1.1 0.6 Polichem 145

Polichem (Italian Health Authority) Frost & Sullivan 12.1%739 13% Polichem S.A. 1950 17.638.9 26.4 Polichem Polichem Polichem Polichem Frost & Sullivan 11.5%160 19% Polichem 12 32100 11.121.812.3 Covex 146

Frost & Sullivan 23.8% 5.7% Covex Covex 29 6.4 4.912.5 39.5% 14.2 Zenotec Zenotec Zenotec Zenotec Zenotec Zenotec 5.92.9 Frost & Sullivan 20 31 407 61,000 400.1523.4 635.026.0% 296.818.3% 351.1 147

14,000 23,000 5 Frost & Sullivan 11.2% 16,000 34,000 14 21 NovaBay 5.5 CollaGuard Innocoll Ethypharm 10 148

Magma Archimedes QualiMed Pharmascience STARflo istar 0.01% NovaBay NovaBay USFDA 510(k) Frost & Sullivan 5020% NovaBay 5.5 NovaBay NovaBay 5.2%2.5 NovaBay NovaBay NovaBay NovaBay 149

CollaGUARD CollaGUARD Frost & Sullivan 21 15% Innocoll Pharmaceuticals Limited CollaGUARD CollaGUARD CollaGUARD Frost & Sullivan 2 10% Ehypharm Shanghai Ethypharm Pharmaceutical Co., Ltd. AstraZeneca Frost & Sullivan 4 30% Magma QualiMed Magma 150

Magma Frost & Sullivan Frost & Sullivan 45 20% QualiMed Magma Magma QualiMed QualiMed QualiMed QualiMed NovaBay QualiMed Archimedes QualiMed archimedes archimedes Frost & Sullivan 80 10% QualiMed Archimedes archimedes Frost & Sullivan 1.5 10% Pharmascience Inc. 151

STARflo STARflo Healionics STAR STARflo STARflo STARflo Frost & Sullivan Frost & Sullivan 8 30% istar Medical STARflo STARflo GMP 16 13 16 0.3 0.4 0.6 13 152

16 71.4% 71.1% 68.7% 66.4% 1217.1% 22.3% 24.0% 21.3% 147 17.9% 15.6% 14.0% 16.4% 1.8% 12.0% 9.1% 9.8%6.1% 4.5% 5.1% 6.4% 15.0% 2.4% 11 11 49.0% 50.3% 48.2%18.2% 7.9% 570.6717.8 958.729.6% 153

432.727.4% 551.3 166.1195.7306.735.9% 29.1% 27.3% 32.0% 133.422.3% 163.230.8% 29.6% 154

.................... 13.................... 10........... 6 31/12/2018 31/12/2019 (1) 31/12/2013 (2) 31/1/2014.................... 31/12/2017 Polichem.................. (3) 30/12/2014 Covex.................. 1 15/7/2017.................... Zenotec 29/3/2017 CB Fleet................... 2 31/12/2015 (1) (2) (3) Skytec International Pty Ltd. Polichem Skytec Polichem 6 155

30 180 97.1% 96.7% 94.5% 92.2% 5% Covex Covex Covex 80.6% 84.6% 79.7% 79.6% 400.1523.4635.0 351.1 70.1% 72.9% 66.2% 63.7% 72.290.7104.2 56.943.5% 46.3% 34.0% 34.8% (i) (ii) 567115 156

102 15 90 (i) GSP (ii) 157

Covex NovaBay Q3 Covex NovaBay Q3 250 89.1% 90.1% 91.2% 91.2% 566716689556 158

2.52.03.0 1.4 30 120 180 0.4 0.50.10.3 0.5% 0.6% 0.1% 0.2% 30 19.9% 17.6% 17.5% 16.4% 5.7% 4.1% 4.3% 4.0% 5% 159

Frost & Sullivan GSP 160

GSP 203 241 302 355....................................... 271........................................... 44................................. 30........................................................ 10........................................................ 355 34 161

162 11.214.5 25.216.8 3,000 50,000 5,000

163 45 38 1.1 310,000 0.05% 50,000 1.1 3.3 3,350,000

164

3,269 17,179 2,296 1,289528 137.7 78.5 46.5 5.01 0.6%15% 5 32L6(2) 342(1)(b)34(2) 165

IIIII X 166

II III X II III X II III 167

Pioneer Pharma (BVI) 75.0% Pioneer Pharma (BVI) 48.5%3.0%Pioneer Pharma (BVI) 99.9% 60% 40% Covex 24% Covex Covex Covex Covex Covex Covex 24% Covex Covex 168

Covex Covex Covex Covex Covex Covex 0.2% 1.8% 4.0%1.1% 0.7% 1.3% 4.9% Covex Covex Mavens Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex CovexCovex Covex Covex Covex Covex Covex Covex Covex 169

Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex Covex NovaBay NovaBay 2,005,656 NovaBay NovaBay 5.2% 120,000 NovaBay 3 NovaBay 2,000,000 NovaBay 10% NovaBay NovaBay NovaBay 170

Covex Covex 24% Covex Covex Covex Covex 24%Covex Covex Covex 0.5 171

50,000 (5) 209.2 110.6 50.2 98.6 172

(a) (b) (i) 10%(ii) 5% (a) (b) 30 30 (c) (i) 173

(ii)30 60 (d) (a) (b) 14A 174

14A 1. Pioneer Medident Pioneer Medident 0.2 0.2 0.4 14A.65(4) 14.07 0.1% 14A.31(2) 2. 30,000 30,000 60,000 175

14A.65(4) 14.07 0.1% 14A.31(2) 3. 3,000 14.07 0.1% 14A.33(3) 4. 3 15,000 C 2102 22022103 2203 176

1,289.08 14.07 0.1% 14A.33(3) 5. 60% 40% 1000 2,229.61 50,000 14.07 0.1% 14A.33(3) 1. 177

5 2 14A 2. 0.5 14A 178

50 42 39 39 47 51 65 50 50 Pioneer Medident NovaBay 5.2% NovaBay NovaBay 179

42 Pioneer Medident 39 39 UBS AG 180

(University of the Manchester) (Manchester Business School) 47 51 65 50 (University of Kent) 181

13.51(2)(a) (v) 43 37 39 42 50 43 37 39 182

42 50 31 L Occitane International S.A. 00973 06881 00484 183

A.2.1 758,000755,000 621,000252,000 184

1,250,000 1,714,0002,041,0001,385,000 975,000 3A.19 3A.23 (i) (ii) (iii) (iv) 185

XV2 3 10% Pioneer Pharma (BVI).......... 1,000,000,000 (2)..................... 1,000,000,000 (3)..................... 1,000,000,000 (1) 75.0% 75.0% 75.0% (1) (2) Pioneer Pharma (BVI) 48.5% 48.5% (3) Pioneer Pharma (BVI) 48.5% 48.5% XV2 3 10% 186

..................... 3,000,000,0000.01 30,000,000................... 500,000,0000.01 5,000,000.............. 500,000,0000.01 5,000,000................ 500,000,0000.01 5,000,000................ 333,334,0000.01 3,333,340......................... 1,333,334,0000.01 13,333,340 (a) (b) 187

(c) (i) 20% (ii) (1) (2) (3) 3. 10% A. 7. (i) (ii) (iii) 3. 188

17 Frost & Sullivan 9.4% 170.5194.4323.7 200.329.9% 27.1% 33.8% 36.3% 93.9105.1202.5106.4 56.5% 53.7% 66.0% 65.2%55.0% 54.0% 62.6% 53.1% 400.1523.4 635.0351.170.1% 72.9% 66.2% 63.7% 189

72.290.7104.2 56.943.5% 46.3% 34.0% 34.8% 219 967 3121,5891,092 67.2%) 2,658 40.5%17,83985,420 32 14 21 Frost & Sullivan Frost & Sullivan 8% 190

55.2% 86.4% Frost & Sullivan 14% 17.6% 22.0% 16 100% 80.6% 84.6% 79.7% 79.6% 97.1% 96.7% 94.5% 92.2% 65.4% 61.1% 60.1% 59.1% 19.9% 17.6% 17.5% 16.4% 5.7% 4.1% 4.3% 4.0% 31 500 191

570.6 717.8958.729.6% 432.727.4% 551.3 166.1195.7306.7 35.9%29.1% 27.3% 32.0% 133.422.3% 163.2 30.8%29.6% 75.197.0185.7 57.3% 13.2% 13.5% 19.4% 78.142.2% 111.1 18.1% 20.1% Frost & Sullivan 268603 22.5% 21.1%1,596 314722 23.2% 20.5%1,770 192

Frost & Sullivan 21.8% 754 70.1% 72.9% 66.2% 63.7% 43.5% 46.3% 34.0% 34.8% 2532 193

31 20,000 3216 13 1671.4% 71.1% 68.7% 66.4% 1317.1% 22.3% 24.0% 21.3% 14 7 194

.................... 170,549 29.9 194,437 27.1 323,721 33.8 135,883 31.4 200,257 36.3..... 400,098 70.1 523,394 72.9 635,002 66.2 296,816 68.6 351,073 63.7........................ 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.0 551,330 100.0......... 55.0 54.0 62.6 62.9 53.1............. 18.0 17.3 16.4 16.1 16.2.............................. 29.1 27.3 32.0 30.8 29.6 195

29.9% 27.1% 33.8% 36.3%56.5% 53.7% 66.0% 65.2% 70.1% 72.9% 66.2% 63.7%43.5% 46.3% 34.0% 34.8% 25% 22% 24% 25% 15% 9% 22.5% 21.2% 10.2% 11.1% 9% 196

9% (i) (ii) Covex (iii) Covex Covex 197

1.92.8 3.23.7 198

109.6242.6295.9299.7 1.01.21.30.9 78.297.1 122.1164.6 0.40.5 0.10.3 199

6 200

201

202

203

.................... 170,549 29.9 194,437 27.1 323,721 33.8 135,883 31.4 200,257 36.3..... 400,098 70.1 523,394 72.9 635,002 66.2 296,816 68.6 351,073 63.7........................ 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.0 551,330 100.0 400.1523.4635.0351.1 70.1% 72.9% 66.2% 63.7% 204

(i) (ii) (iii) 205

... 76,667 19.0 89,387 17.1 121,173 18.6 50,375 16.8 93,883 24.2........... 327,890 81.0 432,742 82.9 530,805 81.4 248,890 83.2 294,214 75.8........................ 404,557 100.0 522,129 100.0 651,978 100.0 299,265 100.0 388,097 100.0... 93,882 55.0% 105,050 54.0% 202,548 62.6% 85,508 62.9% 106,374 53.1%........... 72,208 18.0% 90,652 17.3% 104,197 16.4% 47,926 16.1% 56,859 16.2%........................ 166,090 29.1% 195,702 27.3% 306,745 32.0% 133,434 30.8% 163,233 29.6% 206

55.0% 54.0% 62.6% 53.1% 54.0%62.6% (i) (ii) (iii) 62.9%53.1% 18.0% 17.3%16.4% 16.2%.................... 7,937 7,269 11,383 5,337 35,112............... 5,827 7,455 14,428 9,355 6,772.................... 334 594 775 381 410........................ 355 626 18 242........................ 14,453 15,944 26,604 15,073 42,536 207

............. 46,234 8.1 47,129 6.6 56,855 5.9 26,773 6.2 29,228 5.3... 6,634 1.2 8,095 1.1 15,670 1.6 6,516 1.5 9,740 1.8.................... 4,957 0.9 7,069 1.0 7,767 0.8 3,586 0.8 4,251 0.8.................... 217 0.0 679 0.1 2,248 0.3 847 0.2 1,193 0.2....... 2,132 0.4 2,694 0.4 3,714 0.4 1,725 0.4 2,159 0.4............. 3,637 0.6 2,986 0.4 5,833 0.6 1,928 0.4 1,169 0.1........................ 63,811 11.2 68,652 9.6 92,087 9.6 41,375 9.5 47,740 8.6 7.4 208

...................... 4,440 0.8 6,433 0.9 10,302 1.1 4,577 1.1 7,013 1.3............. 1,874 0.3 2,579 0.4 2,871 0.3 1,414 0.3 1,523 0.3............. 2,059 0.4 1,678 0.2 2,687 0.3 809 0.2 1,740 0.3.................... 3,160 0.6 2,654 0.4 4,028 0.4 2,024 0.5 549 0.1.................... 4,032 0.6 4,989 0.6 8,782 0.9 2,857 0.6 2,771 0.5........................ 15,565 2.7 18,333 2.5 28,670 3.0 11,681 2.7 13,596 2.5 5.05.5 9.4 4.8 3.8 16.5% Pioneer Medident 17% 209

25% 22% 24% 25% 15% 9% i ii iii 15%40% 9% 9%........... 23,963 26,855 24,978 12,794 12,662............... 520 23,963 27,375 24,978 12,794 12,662........... (2,540) (2,540) 433.................... (2,158) (1,294) (2,002) (1,746) 747............. 686 686 21,805 26,081 21,122 9,194 13,842 5% 10% 210

........................ 570,647 100.0 717,831 100.0 958,723 100.0 432,699 100.0 551,330 100.0.................... (404,557) (70.9) (522,129) (72.7) (651,978) (68.0) (299,265) (69.2) (388,097) (70.4)........................ 166,090 29.1 195,702 27.3 306,745 32.0 133,434 30.8 163,233 29.6.................... 14,453 2.5 15,944 2.2 26,604 2.8 15,073 3.5 42,536 7.7............. 691 0.1 3,922 0.5 3,682 0.4 (3,347) (0.8) (7,091) (1.3)............. (63,811) (11.2) (68,652) (9.6) (92,087) (9.6) (41,375) (9.5) (47,740) (8.6).................... (7,440) (1.3).................... (15,565) (2.7) (18,333) (2.5) (28,670) (3.0) (11,681) (2.7) (13,596) (2.5).................... (4,976) (0.8) (5,490) (0.8) (9,435) (1.0) (4,805) (1.1) (3,820) (0.7)....... (1,160) (0.2).................. 96,882 17.0 123,093 17.1 206,839 21.6 87,299 20.2 124,922 22.7.................. (21,805) (3.8) (26,081) (3.6) (21,122) (2.2) (9,194) (2.1) (13,842) (2.6).................... 75,077 13.2 97,012 13.5 185,717 19.4 78,105 18.1 111,080 20.1... (62) 0.0 616 0.1 547 0.1 274 0.1............. (3,243) (0.4) 3,122 0.6 (62) (2,627) (0.3) 547 0.1 3,396 0.7....... 75,077 13.2 96,950 13.5 183,090 19.1 78,652 18.2 114,476 20.8............. 70,435 12.4 95,675 13.3 186,369 19.5 78,448 18.2 112,499 20.4................ 4,642 0.8 1,337 0.2 (652) (0.1) (343) (0.1) (1,419) (0.3) 75,077 13.2 97,012 13.5 185,717 19.4 78,105 18.1 111,080 20.1............. 70,435 12.4 95,613 13.3 183,742 19.2 78,995 18.3 115,895 21.0................ 4,642 0.8 1,337 0.2 (652) (0.1) (343) (0.1) (1,419) (0.2) 75,077 13.2 96,950 13.5 183,090 19.1 78,652 18.2 114,476 20.8 432.727.4% 551.3 135.9 47.4% 200.3 (i) 211

(ii) (iii) 296.818.3% 351.1 299.3 29.7% 388.1 50.486.4% 93.9 248.918.2% 294.2 133.422.3% 163.2 30.8% 29.6% 62.9% 53.1% 47.4% 36.3% 31.4% 16.1% 16.2% 15.1 42.5 5.3 212

35.1 9.4 6.8 41.4 15.4% 47.7 9.5% 8.6% 7.4 11.716.4% 13.6 2.7% 2.5% 4.820.5% 3.8 9.250.6% 13.8 10.5% 11.1% 78.1 42.2% 111.1 18.1% 20.1% 213

717.833.6%958.7 194.466.5%323.7(i) (ii) (iii)(iv) 523.421.3%635.0 522.124.9% 652.0 89.435.6% 121.2 432.722.7%530.8 195.756.7%306.7 27.3%32.0% 66.5%33.8% 27.1% 54.0%62.6%(i) (ii) (iii) 17.3% 16.4% 15.966.9%26.6 214

7.514.4 7.311.4 68.734.1% 92.1 (i)47.1 56.9(ii) 8.1 15.7 9.6% 9.5% 18.356.4% 28.7 (i) (ii) (iii) 2.5% 3.0% 5.571.9% 9.4 26.119.0%21.1 21.2% 10.2% 9% 97.091.4% 185.713.5% 19.4% 570.625.8%717.8 215

170.514.0%194.4 (i) (ii) 400.130.8% 523.4 404.629.1% 522.1 76.716.6% 89.4 327.932.0%432.7 166.117.8%195.7 29.1%27.3% 30.8%72.9%70.1% 55.0% 54.0% 18.0%17.3% 14.510.3%15.9 5.8 7.5 63.87.6% 68.7 (i)5.0 7.1(ii) 6.68.1 11.2%9.6% 216

15.617.8% 18.3 (i) (ii) 2.7%2.5% 5.010.3% 5.5 (i) (ii) 21.819.6%26.1 22.5% 21.2% 15% 75.129.2% 97.0 13.2%13.5%.................. 71,205 (21,777) 120,758 41,727 159,325.................. 45,912 (147,341) (27,498) (41,643) (25,729).................. (84,642) 106,334 (85,082) 2,694 (97,574)............... 32,475 (62,784) 8,178 2,778 36,022...................... 81,861 114,336 51,356 51,356 59,559......... (196) 25 609 560... 114,336 51,356 59,559 54,743 96,141 217

159.3 177.714.5 3.7 177.7 124.9 (i)64.0 (ii)9.3(i) 20.6(ii) 10.7 120.8 160.8 29.4 8.9 160.8 206.8 (i)56.3 (ii)30.1 46.9 21.8 3.5 19.5 5.3 3.5 123.1 (i)135.3(ii) 40.7 72.2 (i) (ii) (iii) (iv) 71.2 102.1 25.9 5.0 102.1 96.9 (i)18.0(ii) 2.7 218

25.7 312.6 20.1Q3 QualiMed 19 294.7 11.9 27.5 15.7 NovaBay 11.7 NovaBay 11.9 147.3 289.4 143.3 45.9 183.6 143.3 97.6 137.0274.1 244.4 85.1 147.616.2 416.2 338.0 106.3 338.0 142.9 90.0 84.6 191.5142.9 36.0 219

........................ 109,582 242,632 295,862 299,696 324,466........... 1,323 2,829 2,829......... 124,101 167,054 200,097 221,159 257,729......... 34,646 28,181.................. 875 59 2,916............... 52 52 52 52 52............... 2,221 2,618............. 143,312 289,409 294,726 312,618 279,107............. 3,470 5,300 11,862............. 114,336 51,356 59,559 96,141 62,712 494,853 758,024 866,974 967,200 957,992......... 169,599 241,832 290,840 356,968 371,247............. 460 222,889 117,656.................... 2,077 9,894 3,823 2,651 501............. 158,929 338,011 416,220 445,955 493,457............... 3,548 1,952 1,162 3,890 3,890........................ 1,909 2,797 3,223 3,685 3,804.................... 7,801 9,567 336,062 594,486 715,728 1,043,839 1,000,122......... 158,791 163,538 151,246 (76,639) (42,130)................................. 110,538 242,879 295,935 299,279.......................... (956) (247) (73).......................... 417................................... 109,582 242,632 295,862 299,696 220

(1)..................... 101.6 123.1 150.7 140.4 (2) (3)................... 81.6 93.4 107.7 94.2 (1) 365 183 (2) 365 183 (3) 36.748.2 105.590.3 109.6 242.6 295.9 299.7 (i) (ii) (iii)(iv) 101.6123.1150.7140.4 81.693.4107.794.2 1.00.20.1 0.4 221

.......................... 78,619 97,598 122,234 164,914.......................... (424) (543) (107) (324) 78,195 97,055 122,127 164,590............................... 36,632 37,826 55,988 36,772.......................... 4,841 2,269 4,531 6,890.......................... (260) (122) (136) (46)............................... 1,454 3,655 6,156 6,227.................... 3,042 7,223 3,864 5,521........................ 197 19,148 7,567 1,205................................... 124,101 167,054 200,097 221,159 (1)............ 54.6 44.8 41.8 47.7 (1) 365 183 30 120 180 54.644.841.847.7 0.40.5 0.10.3 0.5% 0.6% 0.1% 0.2% 222

060.............................. 67,191 83,555 105,701 129,966 61180............................ 10,855 12,670 15,080 31,035 1811............................. 127 600 1,321 3,416 12............................... 22 230 25 173................................... 78,195 97,055 122,127 164,590 11.0 13.514.019.8 0.4 0.50.10.3 76.0% 16.1.......................... 141,903 207,500 244,356 303,227........................ 820 1,576 3,393 2,729............................... 2,593 2,897 15,841 4,425.......................... 10,744 5,201 2,166 12,299...................... 8,289 10,453 9,094 17,850............................... 1,779 1,919 2,450 113............................. 2,200........................ 891 4,038 4,731 5,904.......................... 2,804.................. 2,806................ 2,580 8,248 6,609 4,811................................... 169,599 241,832 290,840 356,968 223

(1)............ 144.2 122.1 126.5 129.1 (1) 365 183 144.2122.1126.5129.1 90............................... 70,037 163,049 196,030 237,128 91 180.............................. 71,866 44,451 48,326 66,099................................... 141,903 207,500 244,356 303,227 30180 12........................ 158,929 338,011 416,220 445,955............................... 158,929 286,227 391,078 445,955............................... 51,784 25,142 158,929 338,011 416,220 445,955 224

1.79% 3.36% 3.28% 6.70% 1.26% 6.90% 1.20% 6.90% 143.3 289.4294.7312.6 30.5% 42.9% 44.8% 42.5% 611.6397.1 30.965.5 118.1.................. 1,339 1,927 757 6,284.......................... 2,780 11,709................................... 1,339 4,707 12,466 6,284 225

8.6 7.6 88.4%) 130.0 64% 31% (1)..... (2) x 100% 52.3% 92.2% 206.3%... (2) x 100% 14.8% 21.6% 22.5%......... 1.5 1.3 1.2 0.9......... 1.1 0.9 0.8 0.6 (3)... (4) x 100% (55.3%) (4.2%) 23.5% n.m. (1) 52.3% 92.2% 91.4% 10.6% (2) (3) 212.8 5.7 209.229 (4) 226

1.0 2.0 29 80.6% 84.6% 79.7% 79.6% 227

26............................... 7,262................................. 18,987 1,204 44,622 161,661 64,623 67,081 49,377................................. 1 1 23,984 601 13,659 15,792 24,987 9,690................ 155 1,512 1,435 67 162 222........................ 808 491 24 5,287................................. 1 26,405 27,508 47,149 175,320 80,482 92,254 64,257 5% 5% 5%................................... 6,062 1,711 2,470 178................................... 512 592 38 341 5% 232,391,000256,224,000335,335,000 5% 228

8,715,000 9,608,00012,575,000 6% 7% 5% 5%24% 24% 17% 19% 26 30 50 50 229

633,000543,000128,000 (1) (2) (3)(5) 4.10............ (9,525) 1,025,290 1,015,765 0.76 0.96 5.00............ (9,525) 1,255,108 1,245,583 0.93 1.18 (1) 6.1 15.6 (2) 333,334,000 4.103.25 5.003.96 0.79221 230

(3) 2 1,333,334,000 (4) (5) 0.79221 30% 36.090.0 147.6163.0 13.13 13.19 13.13 13.19 231

760.6220.6 209.2 110.650.2 98.6 4.5 Pioneer Pharma (BVI) 232

4.55 4.10 5.00 1,439.3 30% 431.8 (i) (ii) (iii) (iv) 15% 215.9 5% 72.0 25% 359.8 (i) (ii) 15% 215.9 10% 143.9 233

1,584.3 1,294.2 4.55 220.7 234

UBS AG 33,334,000 (i) (ii) (a) (i) (ii) 235

(iii) (iv) (v) (vi) (vii) (viii) (ix) 236

(x) (xi) (xii) (xiii) (xiv) (xv) (xvi) (1) (2) (3) (4) (b) (i) 237

(ii) (iii) (iv) (v) (vi) (vii) (viii) (A) 10.08 238

10.08 (B) 10.07(1)(a)(i) Pioneer Pharma (BVI) (ii) (a) (b) (a) (a) 10.07(2) (2) 10.07(2) (3) (a) (b) 10.07(2) (2) 239

(A) (a) (b) (c) (d) (a) (b) (a) (b) (c) (a) (b) (c) (a) (b) (c) 240

(B) (a) (i) (ii) (iii) (iv) (i) (ii) (i) (ii) (iii) (i) (ii) (iii) (b) (c) (a)(i) (ii) (iii) (a)(i) (ii) (iii) 241

(i) (ii) 3% 1.5% 1.5% 242

30 50,000,000 15%1%0.003% 0.005% 4.55 86.7 9.3 3A.07 243

(a) (b) 244

UBS AG (a) (b) 33,334,000 S 300,000,000 25.0% 28.8% 33,334,00010% 2.5% 5 245

5 33,334,000 50%16,667,000 33,334,000 10% (i)1550(ii)50100 (iii)100 100,002,000(i) 133,334,000(ii) 166,668,000 (iii)30% 40% 50% 246

300,000,000 90% 22.5% S 144A 30 50,000,000 15% 247

50,000,000 15% 30 50,000,000 15% Pioneer Pharma (BVI) 50,000,000 (a) (b)(i) (ii) (iii) (i) (ii) (iv) (v)(ii) (iii) (iv) 248

30 Pioneer Pharma (BVI) 10.07(3) 10.07(1)(a)(i) (ii) Pioneer Pharma (BVI) Pioneer Pharma (BVI) 5.00 4.10 249

www.hkexnews.hk www.pioneer-pharma.com 5.004.10 5.001.0%0.005% 0.003%1,000 5,050.40 250

5.00 30 251

13. (i) (ii) 1,000 252

1. eipo(www.eipo.com.hk) eipo 2. 18 S eipo(i) (ii) eipo 253

3. www.eipo.com.hk (i) UBS AG 8 52 99 17 181 27 254

(ii) 99 391 22 24 54 2 21 27 47 48 10 253 261 A C 638 640 1 2 243 202 199 2 10. 255

4. eipo (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) 256

(xi) (xii) (xiii) (xiv) (xv) (xvi) (i) (ii) S S 902(h)(3) (xvii) (xviii) eipo (xix) (i) (ii) 5. eipo www.eipo.com.hk eipo eipo 257

eipoeipo eipo eipo(www.eipo.com.hk) 24 eipo eipo eipo eipo 40 40342E eipo eipowww.eipo.com.hk eipo 6. 2979 7888 258

(https://ip.ccass.com) 199 2 (i) (ii) 259

40342E 260

1,0001,000 (1) (1) (1) (1) (1) (1) 261

24 10. 40 40 342E 7. eipoeipo eipo (i) (ii) 262

8. eipo 9. eipo 1,000 1,000 www.eipo.com.hk 263

10. 11. www.pioneer-pharma.com www.hkexnews.hk www.pioneer-pharma.com www.hkexnews.hk 24 www.iporesults.com.hk (852)2862 8669 264

12. (i) eipo 40342E (ii) eipo (iii) 265

(iv) eipo 50% 13. 5.00 14. 266

(i) (ii) (i) 1,000,000 18317 1712 1716 1,000,000 (ii) 1,000,000 267

1,000,000 (iii) eipo 1,000,000 18317 1712 1716 1,000,000 268

(iv) ( 15. 269

270

1,001,001 100 100 1,000,000 60 60 60 Pioneer Medident (SE Asia) Pte. Ltd Pioneer Medident 10 60 60 60 1 1,000,000 100 100 2 2 10,000,000 4,000,000 100 100 100 100 100 70 70 70 70 I-1

# 1 100 100 100 100 2 3 2,800,000 100 100 100 100 1,000,000 60% # 1. 2. 3. A 2 Pioneer Medident I-2

(i)a 16(ii) (iii) 117,814,000 3.340 A 2 I-3

A 2 2410 I-4

A.............................. 7 570,647 717,831 958,723 432,699 551,330......................... (404,557) (522,129) (651,978) (299,265) (388,097)............................. 166,090 195,702 306,745 133,434 163,233......................... 8 14,453 15,944 26,604 15,073 42,536.................. 9 691 3,922 3,682 (3,347) (7,091).................. (63,811) (68,652) (92,087) (41,375) (47,740)......................... (7,440)......................... (15,565) (18,333) (28,670) (11,681) (13,596)......................... 10 (4,976) (5,490) (9,435) (4,805) (3,820).......... 19 (1,160)....................... 11 96,882 123,093 206,839 87,299 124,922....................... 12 (21,805) (26,081) (21,122) (9,194) (13,842).................. 75,077 97,012 185,717 78,105 111,080....... (62) 616 547 274. (3,243) 3,122 (62) (2,627) 547 3,396.......... 75,077 96,950 183,090 78,652 114,476.................. 70,435 95,675 186,369 78,448 112,499.................... 4,642 1,337 (652) (343) (1,419) 75,077 97,012 185,717 78,105 111,080.................. 70,435 95,613 183,742 78,995 115,895.................... 4,642 1,337 (652) (343) (1,419) 75,077 96,950 183,090 78,652 114,476.......... 13 0.11 I-5

............................ 16 12,373 12,481 11,312 10,855..................................... 16 7,512 7,063 6,614................................ 17 2,479 2,427 2,375 2,349..................................... 18 2,502 15,855 15,622........................ 19 17,289..................................... 20 14,216 17,053............................ 21 4,876 14,082................................ 22 3,721 5,015 6,331 5,525 26,085 29,488 61,579 82,775......................................... 24 109,582 242,632 295,862 299,696............................ 21 1,323 2,829.......................... 25 124,101 167,054 200,097 221,159.......................... 29 34,646................................... 875 59................................ 17 52 52 52 52................................ 26 2,221 2,618.............................. 27 143,312 289,409 294,726 312,618.............................. 27 3,470 5,300 11,862.............................. 27 114,336 51,356 59,559 96,141 494,853 758,024 866,974 967,200.......................... 28 169,599 241,832 290,840 356,968.............................. 29 460 222,889..................................... 2,077 9,894 3,823 2,651..................................... 30 158,929 338,011 416,220 445,955................................ 26 3,548 1,952 1,162 3,890......................................... 31 1,909 2,797 3,223 3,685..................................... 7,801 336,062 594,486 715,728 1,043,839.......................... 158,791 163,538 151,246 (76,639)............................ 184,876 193,026 212,825 6,136......................................... 32 6,286......................................... 173,445 192,105 212,057 (189)........................ 173,445 192,105 212,057 6,097................................... 33 11,431 921 768 (421)..................................... 184,876 193,026 212,825 5,676.............................. 29 460 184,876 193,026 212,825 6,136 I-6

............................................... 23 6,286............................................................. 32 6,286............................................................. 6,286 I-7

b a........... 84,435 28,372 23,977 136,784 9,015 145,799......... 70,435 70,435 4,642 75,077...................... 7,919 (7,919) e.................. (33,774) (33,774) (2,226) (36,000)..... 84,435 36,291 52,719 173,445 11,431 184,876........................ 95,675 95,675 1,337 97,012.................... (62) (62) (62)......... (62) 95,675 95,613 1,337 96,950................. 1,200 1,200...................... 9,411 (9,411) e............ (87,774) (87,774) (2,226) (90,000) c...... 5,565 5,256 10,821 (10,821)..... 90,000 (62) 45,702 56,465 192,105 921 193,026................. 186,369 186,369 (652) 185,717............. 616 (3,243) (2,627) (2,627)......... 616 186,369 (3,243) 183,742 (652) 183,090................. 499 499...................... 6,756 (6,756) d.......... (16,190) (16,190) (16,190) e............ (147,600) (147,600) (147,600)..... 73,810 554 52,458 88,478 (3,243) 212,057 768 212,825................. 112,499 112,499 (1,419) 111,080.................... 274 3,122 3,396 3,396......... 274 112,499 3,122 115,895 (1,419) 114,476................. 230 230............... 6,286 6,286 6,286 f.......... (165,141) (165,141) (165,141) g....................... 40,685 (45,000) 4,315 e............ (163,000) (163,000) (163,000)......... 6,286 (50,646) 828 7,458 42,292 (121) 6,097 (421) 5,676 I-8

b a..... 90,000 (62) 45,702 56,465 192,105 921 193,026................. 78,448 78,448 (343) 78,105............. 547 547 547......... 547 78,448 78,995 (343) 78,652................. 62 62 d....................... (16,190) (16,190) (16,190) e.................. (53,100) (53,100) (53,100)......... 73,810 485 45,702 81,813 201,810 640 202,450 (a) (b) 905.6 16.2 (c) (d) (e) 36,000,00090,000,000147,600,00053,100,000 163,000,000 (f) 2 117,814,00047,327,000 34 (g) I-9

........................................ 96,882 123,093 206,839 87,299 124,922........................................ 4,976 5,490 9,435 4,805 3,820........................................ (5,827) (7,455) (14,428) (9,355) (6,772)........................... 1,534 1,801 1,814 912 1,066................................... 449 449 449 224 224................................... 278 556 278 233............................... 52 52 52 26 26..................... (25) (21) (62)......................... 1,160....................... 2,526 3,564.............. 3,548 1,952 1,162 84........................... (1,803) 3,476 1,049. 1,668...... 2,414................................. 956 247 73 26 (417)..................... 13 480 135 108 260.... (1,080) (499) (557) (133).............. (6,359)................................... 1,816 2,910 3,454 1,785 1,864..................... 103,294 126,974 208,565 87,241 133,899................................... 2,668 (135,319) (56,331) 37,518 (4,819).................... 275 (40,733) (30,120) (42,586) (20,572)..................... (17,975) 72,167 46,869 (14,680) 63,985............................. (6,199) (10,712)........................... 9,268...................................... 7,801...................................... (2,181) (3,548) (1,952) (1,952) (1,162).................... 16,052 (16,052)................................... 102,133 3,489 160,832 65,541 177,688........................................ (25,938) (19,548) (29,385) (16,252) (14,533).......................................... (4,990) (5,300) (8,904) (6,724) (3,707)...................................... (418) (1,785) (838) (123)....................... 71,205 (21,777) 120,758 41,727 159,325.......................................... 5,764 5,254 11,927 7,969 6,702...................................... (25,687) (25,000) (1,500) (8,000)................................... 25,687 25,460 1,500 8,000........................... (15,714)............................. (1,339) (1,927) (757) (144) (6,284)........ (20,117)...................................... (2,780) (11,709) (4,695)..................... 112 39 174 93............................... 183,551 143,312 289,409 84,263 294,726............................... 4,606 3,470 5,300 5,300 11,862............................... (143,312) (289,409) (294,726) (134,429) (312,618)............................... (3,470) (5,300) (11,862)....................... 45,912 (147,341) (27,498) (41,643) (25,729)...................................... 142,877 338,011 416,220 175,957 274,088...................................... (191,519) (142,877) (338,011) (103,973) (244,353)................................... 1,200 499 230................................... (16,190) (16,190)........................................ 4,455............ (1,300)................................. 6,286.......................................... (36,000) (90,000) (147,600) (53,100) (136,980)....................... (84,642) 106,334 (85,082) 2,694 (97,574).................. 32,475 (62,784) 8,178 2,778 36,022........................... 81,861 114,336 51,356 51,356 59,559............................... (196) 25 609 560........ 114,336 51,356 59,559 54,743 96,141 I-10

1. 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands1000 Pioneer Pharma (BVI) LimitedPioneer BVI 2. (i) (ii) (iii) Pioneer BVI Pioneer BVI Pioneer BVI 0.01 1 Pioneer BVI Pioneer BVI 99 Pioneer BVI 5,000,0005,000,0001 I-11

1,001,0001,001,0006,286,000 (iv) (v) (vi) (vii) (viii) 1,000,000 50,210,000 35% 70%19,990,000 70% 20% 10% (i) (ii) (iii)210,000 7,743,60047,404,000 60% Pioneer Medident 60% I-12

16,190,000 3. 9 7 10 12 27 9 2 1 9 2 32 1 36 1 39 1 21 1 1 2 4. I-13

17 2 36 I-14

39 36 36 I-15

I-16

I-17

I-18

I-19

I-20

6 I-21

25 I-22

I-23

5. 4 I-24

78,195,00097,055,000122,127,000 164,590,000424,000543,000 107,000324,000 109,582,000242,632,000 295,862,000299,696,000 956,000 1,203,0001,276,000859,000 26 6 26 I-25

1,909,0002,797,0003,223,0003,685,000 6. (a)............ 2,221 2,618................................. 14,216 17,053........ 377,719 486,748 561,012 674,704............ 3,548 1,952 1,162 3,890...................................... 312,907 566,660 685,696 1,006,368 (b) (i) I-26

........... 7,262............. 18,987 1,204 44,622 161,661 64,623 67,081 49,377...... 1 1 23,984 601 13,659 15,792 24,987 9,690......... 155 1,512 1,435 67 162 222............. 808 491 24 5,287 1 26,405 27,508 47,149 175,320 80,482 92,254 64,576 5% 5% 5%..................... 6,062 1,711 2,470 178..................... 512 592 38 341 5% 232,391,000256,224,000 335,335,000 5% I-27

8,715,0009,608,000 12,575,000 (ii) 30 30 26 50 50 633,000543,000128,000 (iii) 70% 9,473,000 9,908,00070% I-28

12,716,0006,786,000 70% 6,200,00011,926,000 70% 2,100,00011,926,000 6% 7% 5% 5% 24% 24% 17% 19% I-29

76,639,000 399,899,9005 31 99.0 %... 152,897 1,081 153,978 153,978............. 3.0 53,377 112,568 165,945 158,929 206,274 113,649 319,923 312,907.......... 744 2,804 3,548 3,548 I-30

%... 228,091 558 228,649 228,649............. 4.0 88,824 100,620 189,444 185,560............. 1.5 154,022 154,022 152,451 316,915 255,200 572,115 566,660.......... 1,799 153 1,952 1,952 %... 266,566 2,450 269,016 269,016..... 460 460 460............. 4.0 27,278 264,235 291,513 285,342............. 1.5 59,978 71,464 131,442 130,878 354,282 338,149 692,431 685,696.......... 118 1,044 1,162 1,162 I-31

%... 337,064 337,064 337,064..... 222,889 460 223,349 223,349............. 2.6 107,053 314,254 421,307 415,061............. 2.2 174 30,922 31,096 30,894 667,180 345,176 460 1,012,816 1,006,368.............. 24,161 24,161 1,476.......... 2,414 2,414 2,414 (c) I-32

1) 26a 3,548,000 1,952,000 1,162,000 2) 26b) 2,221,000 530,000 3) 20 14,216,000 17,053,000 4a) 26c) a 2,088,000 4b) 26c) a 1,476,000 5) 26d) b 2,414,000 I-33

a5% 220,000 b 1% 612,000......................................... 4,614 4,614........... (2,526) (2,526)......... 2,088 2,088........... (3,564) (2,414) (5,978)..................... 1,476 1,476............. (2,414) (2,414) I-34

7............... 570,647 717,831 934,267 429,200 514,079.............. 24,456 3,499 37,251 570,647 717,831 958,723 432,699 551,330 4 8 (a) (b) I-35

............................ 170,549 400,098 570,647............................ (76,667) (327,890) (404,557)..................... 93,882 72,208 166,090............................ 14,453..................... 691............................ (63,811)............................ (15,565)............................ (4,976).......................... 96,882............................ 194,437 523,394 717,831............................ (89,387) (432,742) (522,129)..................... 105,050 90,652 195,702............................ 15,944..................... 3,922............................ (68,652)............................ (18,333)............................ (5,490).......................... 123,093 I-36

............................ 323,721 635,002 958,723............................ (121,173) (530,805) (651,978)..................... 202,548 104,197 306,745............................ 26,604..................... 3,682............................ (92,087)............................ (28,670)............................ (9,435).......................... 206,839............................ 135,883 296,816 432,699............................ (50,375) (248,890) (299,265)..................... 85,508 47,926 133,434............................ 15,073..................... (3,347)............................ (41,375)............................ (11,681)............................ (4,805).......................... 87,299............................ 200,257 351,073 551,330............................ (93,883) (294,214) (388,097)..................... 106,374 56,859 163,233............................ 42,536..................... (7,091)............................ (47,740)............................ (7,440)............................ (13,596)............................ (3,820)............. (1,160).......................... 124,922 I-37

.................................. 400,098 523,394 635,002 296,816 351,073.................................... 68,222 65,579 94,383 45,426 57,884.................................. 25,592 36,938 61,683 25,812 36,611.................................. 17,567 38,939 17,954 26,379....................... 11,116 21,756 8,720 12,253......................... 6,402 4,855 12,466 14,171 Zenotec......................... 5,896 2,897.................................. 4,840 862 7,653................. 5 1,144 285 572................................ 48,319 24,849 24,268 12,184 550.................................... 10,014 15,034 26,729 15,957 311.................................... 12,000 18,494 31,617 8,683 40,976 570,647 717,831 958,723 432,699 551,330 90% 95% 10% 8............................ 7,937 7,269 11,383 5,337 35,112.............................. 5,827 7,455 14,428 9,355 6,772.................................. 334 594 775 381 410...................................... 355 626 18 242 14,453 15,944 26,604 15,073 42,536 I-38

9...................... 966 483 2,051 565 682.............................. 1,080 499 557 133........... (13) (480) (135) (108) (260)............. 25 21 62........................... (1,668).. (1,367) 3,399 (5,212) (3,804) (5,978)................. 6,359 691 3,922 3,682 (3,347) (7,091) 17.5 4.6 15.7 10.............. 4,976 5,490 9,435 4,805 3,820 11. 14......................... 758 755 621 307 252................. 2,741 3,065 5,410 2,035 3,419.............................. 7,708 10,708 19,122 8,751 13,082................................ 11,207 14,528 25,153 11,093 16,753................................ 1,020 773 975 547 550 a.......................... 7,440 b.................... 956 247 73 26 (417)......................... 52 52 52 26 26..................... 1,534 1,801 1,814 912 1,066.............................. 449 449 449 224 224.............. 278 556 278 233..................... 404,557 522,129 651,978 299,265 388,097........ 216 216 246 83 28.................................. (334) (594) (775) (381) (410) I-39

a b 12.......................... 23,963 26,855 24,978 12,794 12,662.............................. 520 23,963 27,375 24,978 12,794 12,662......................... (2,540) (2,540) 433 22.................................. (2,158) (1,294) (2,002) (1,746) 747........................... 686 686 21,805 26,081 21,122 9,194 13,842 16.5% Pioneer Medident 17% 25% 22% 24% 25% 25% [2011]1415% [2008]62[2011]52 40% 9% 2,540,000 40% I-40

................................ 96,882 123,093 206,839 87,299 124,922 25%........... 24,221 30,773 51,710 21,825 31,231................... 432 248 2,213 500 3,893................... (905) (1,590)............... 221 457 735 1,048......................... (190)................... 686 686............... (2,848) (3,815) (29,688) (12,012) (22,763)......................... (251) (126)............... (2,540) (2,540) 433 21,805 26,081 21,122 9,194 13,842 13....... 112,499........ 983,377,843 I-41

14........................................... 240 26 266.......................................... 208 38 246............................................ 208 38 246.................................................................................... 656 102 758.......................................... 240 28 268.......................................... 276 49 325............................................ 138 24 162.................................................................................... 654 101 755.......................................... 240 38 278.......................................... 288 55 343................................................................................................................................ 528 93 621 I-42

.......................................... 120 17 137.......................................... 144 26 170................................................................................................................................ 264 43 307.................................................................................... 216 36 252................................................................................................................................ 216 36 252 1,000,000........................... 1,072 1,517 1,823 911 1,243......................... 178 197 218 106 142 1,250 1,714 2,041 1,017 1,385 15. I-43

16.................. 11,161 445 1,466 2,493 15,565 9,447.................................. 1,163 176 1,339.................................. (103) (103)........... 11,161 445 2,526 2,669 16,801 9,447.................................. 112 286 1,529 1,927.................................. (251) (147) (398)........... 11,161 557 2,561 4,051 18,330 9,447.................................. 53 533 171 757.................................. (176) (464) (640)........... 11,161 610 2,918 3,758 18,447 9,447.................................. 2 3,315 5,771 9,088 34............................ (10,761) (445) (3,366) (14,572) (9,447)............... 400 167 6,233 392 5,771 12,963................. 1,695 146 442 627 2,910 1,486.............................. 519 76 449 490 1,534 449............................ (16) (16)........... 2,214 222 875 1,117 4,428 1,935.............................. 543 83 471 704 1,801 449............................ (241) (139) (380)........... 2,757 305 1,105 1,682 5,849 2,384.............................. 606 29 400 779 1,814 449............................ (167) (361) (528)........... 3,363 334 1,338 2,100 7,135 2,833.............................. 266 112 375 313 1,066 224 34............................ (3,557) (307) (2,229) (6,093) (3,057)............... 72 139 1,713 184 2,108........... 8,947 223 1,651 1,552 12,373 7,512........... 8,404 252 1,456 2,369 12,481 7,063........... 7,798 276 1,580 1,658 11,312 6,614 328 28 4,520 208 5,771 10,855 5% 20% 20% 10.610.710.9 I-44

2,169,000 30 17................................. 52 52 52 52.............................. 2,479 2,427 2,375 2,349 2,531 2,479 2,427 2,401 18........................................................................................................ 2,780................................................... 2,780.......................................................................... 13,909........................... 16,689................................................................................................... 278................................................... 278...................................................................... 556................................................... 834...................................................................... 233 1,067...................................................................................................... 2,502................................................... 15,855....................................................... 15,622 I-45

19. QualiMed Innovative Medizinprodukte GmbHQualiMed AMG International GmbH 19,2841 Q3 Medical Devices LimitedQ3 0.9 7.2 Q3 12.8% QualiMed 0.7 5.6 7,254 Q3 Q3 3.5% 0.5 3.91.7 19,284 1 Q3 0.9 7.2 Q3 22.1% Q3 21.4% Q3 21.4%................................................................ 109,351.................................................................. 48,806................................................................ 28,722.................................................................. 42,691 I-46

...................................................................... 11,397.................................................................. (9,105)......................................................... (9,105) Q3....................................................... 87,144 Q3................................................... 18,649.................................................................. (1,360) Q3................................................. 17,289 20. 21.................... 2,400 4,842 1,323 2,829...... 2,800 5,824 1,997 4,147...... 3,200 11,968 2,879 9,935 8,400 22,634 6,199 16,911...... (2,201) (5,723).. 6,199 16,911 6,199 16,911................. 1,323 2,829............... 4,876 14,082 25 12 18 I-47

17 16% 10% 16% I-48

22....... 385 628 480 70 1,563...... (221) 229 (170) 372 1,948 2,158.......... 164 229 458 852 2,018 3,721...... (28) 21 1,851 222 (516) (256) 1,294.......... 136 250 1,851 680 336 1,762 5,015...... (74) (93) 2,637 (390) (141) 63 2,002............ (19) (30) (21) (616) (686).......... 43 127 4,467 290 195 1,209 6,331...... 15 (46) (2,648) 42 (195) 135 1,950 (747)............ (53) (6) (59).... 5 75 1,819 332 1,344 1,950 5,525 885,0002,711,0006,901,000.............................. 885 885 885.............................. 1,289 1,289.............................. 2,383.................................. 537 2,344 885 2,711 6,901 I-49

10% 40,191,000 23...................................... 6,286 24. 36,700,000 48,220,000105,493,00090,307,000 956,000247,00073,000 417,000 I-50

25............................ 78,619 97,598 122,234 164,914......................... (424) (543) (107) (324) 78,195 97,055 122,127 164,590......................... 36,632 37,826 55,988 36,772 114,827 134,881 178,115 201,362........... 4,841 2,269 4,531 6,890......................... (260) (122) (136) (46) 119,408 137,028 182,510 208,206................................ 1,454 3,655 6,156 6,227....................... 3,042 7,223 3,864 5,521......................... 197 19,148 7,567 1,205................... 124,101 167,054 200,097 221,159 16,052,000 30 180 21 12 0 60.................................. 67,191 83,555 105,701 129,966 61180............................. 10,855 12,670 15,080 31,035 181............................. 127 600 1,321 3,416.............................. 22 230 25 173 78,195 97,055 122,127 164,590 0 60.................................. 16,830 22,029 33,173 12,763 61180............................. 19,802 15,016 18,466 19,702 181............................. 781 1,656 2,664.............................. 2,693 1,643 36,632 37,826 55,988 36,772 I-51

11,004,000 13,500,000 14,042,000 19,847,000 61180............................. 10,855 12,670 12,702 18,222 181............................. 127 600 1,315 1,452.............................. 22 230 25 173 11,004 13,500 14,042 19,847........................... 1,751 684 665 243............... 13 480 135 260........................... (1,080) (499) (557) (133)................................ 684 665 243 370.......................... 39............. 1,204 381 640................. 1,333 490 6 25a. I-52

30 16,052,000 26. (a)......................... 3,548 1,952 1,162 (c).............................. 1,476 (d)......................... 2,414 3,548 1,952 1,162 3,890 (b)............................. 2,221 530 (c).............................. 2,088 2,221 2,618 (a) 3,066,950...... 6.5347 1,782,685...... 6.5641 1,678,626...... 6.7700 279,156........ 6.7700 83,354......... 6.7700 363,168........ 6.7700 1,830,180...... 6.7850 1,446,463...... 6.7480 427,433........ 6.7580 4,223,059...... 6.7870 909,567........ 6.7815 905,310........ 6.6820 400,000........ 6.6006 400,000........ 6.6006 400,000........ 6.6006 427,103........ 6.6006 327,006........ 6.6006 450,000........ 6.6195 450,000........ 6.6195 450,000........ 6.6195 450,000........ 6.6195 450,000........ 6.6195 I-53

480,000........ 6.5800 443,118........ 6.5800 450,000........ 6.5800 470,000........ 6.5800 460,000........ 6.5800 490,000........ 6.5800 400,000........ 6.5500 375,127........ 6.5500 400,000........ 6.5500 400,000........ 6.5500 490,000........ 6.5500 490,000........ 6.5500 490,000........ 6.5500 468,446........ 6.5500 466,984........ 6.5294 470,000........ 6.5294 480,000........ 6.5294 460,000........ 6.5294 277,000........ 6.3810 1,385,372...... 6.3810 382,000........ 6.3810 39,000......... 6.3810 85,400......... 6.4130 1,508,680...... 6.4070 612,087........ 6.4070 3,465,533...... 6.4070 190,653........ 6.4070 5,869,854...... 6.4060 320,835........ 6.4060 670,853........ 6.4060 3,613,039...... 6.3980 162,389........ 6.3140 3,081,421...... 6.3140 154,586........ 6.3020 2,216,930...... 6.3020 495,954........ 6.3020 613,473........ 6.3520 4,216,162...... 6.3520 1,378,612...... 6.4600 3,224,723...... 6.3670 483,086........ 6.3670 2,445,253...... 6.4200 3,691,942...... 6.3035 2,492,061...... 6.3010 3,275,771...... 6.3520 1,466,146...... 6.3640 926,139........ 6.3410 3,969,273...... 6.3410 3,834,931......... 1.2792 I-54

(b) 320,835...... + 1.20% 2.16% 670,853...... + 1.20% 2.16% 5,869,854.... + 1.20% 2.16% 3,613,039.... + 1.20% 1.94% 3,081,421.... + 1.20% 1.98% 162,389...... + 1.20% 1.98% 2,216,930.... + 1.20% 1.98% 495,954...... + 1.20% 1.98% 154,586...... + 1.20% 1.98% 4,216,162.... + 1.20% 2.01% 613,473...... + 1.20% 2.01% 1,378,612.... + 1.20% 2.05% 3,224,723.... + 1.20% 2.20% 483,086...... + 1.20% 2.20% 2,445,253.... + 1.75% 2.85% 3,691,942.... + 1.89% 2.95% 2,492,061.... + 1.63% 2.70% 3,275,771.... + 1.45% 2.50% 926,139...... + 1.35% 2.40% 3,969,273.... + 1.35% 2.40% 1,466,146.... + 0.75% 1.80% (c) NovaBay Pharmaceuticals, Inc.NovaBay2,000,000 (a) NovaBay (b)1.50 NovaBay 2,500,000 15,700,000 NovaBay NovaBay 3 I-55

........................... 1.50 1.50 1.50 1.50............................. 1.49 1.32 1.13 1.38......................... 81.72% 76.33% 75.28%......................... 0.96 0.83 0.67 0.42....................... 0.14% 0.14% 0.09% 0.09%.................... 0.00% 0.00% 0.00% 0.00%............ 369,421 360,901 328,588 (238,840)............ 2,339,841 2,273,748 2,088,490 (1,475,719) NovaBay (d) Q3 Q3 1 81.5 12 1 2Q3 Q3 Q3 Q3 Q3 Q3 10% 12750,000 1,344,000 13662 25 200040 I-56

10% 15.75% 27. 0.36% 0.36% 0.50% 0.01% 0.50% 0.01% 0.50% 2.25% 2.50% 2.95% 3.50% 3.30% 4.35% 3.50% 4.35% 2 133,417,000 0.36% 0.40% 0.44% 0.35%..................... 1..................... 18,987 116 1..................... 1,131 23,984 168......................... 44,622 485 111 102 I-57

28............................ 141,903 207,500 244,356 303,227......................... 820 1,576 3,393 2,729................................ 2,593 2,897 15,841 4,425........................... 10,744 5,201 2,166 12,299....................... 8,289 10,453 9,094 17,850................................ 1,779 1,919 2,450 113........................... 2,200......................... 891 4,038 4,731 5,904........................... 2,804................... 2,806................. 2,580 8,248 6,609 4,811 169,599 241,832 290,840 356,968 30180 0 90................................. 70,037 163,049 196,030 237,128 91 180............................... 71,866 44,451 48,326 66,099 141,903 207,500 244,356 303,227..................... 18,784 13,659..................... 10,887 68 15,792..................... 17,691 162 24,987 24......................... 3,037 222 7,276 5,287 I-58

29. (a) (1) (2) Covex, S.A. (3) (4) (5) 2 (b) (1) (2) (c)......... 513 Covex, S.A.......... 11,933 16,235 50,000 15,000 3,000 I-59

(d)........................ 25,687 25,000 8,000 (i)....................... 34,646 34,646 (ii)........................ (400) (ii)........................ (60) Covex, S.A. (iii).................... (9,268) (iv)...................... (209,166) (ii)........................ (400) (ii)........................ (60) (v)......................... (4,455) (460) (460) (222,889) (i) (ii) 400,000 60,000 (iii) 90 Covex, S.A. (iv) 92,652,000 116,514,000 2 (v) I-60

(e)...................... 1,531 2,021 2,340 1,151 1,621.......................... 233 286 290 148 191 1,764 2,307 2,630 1,299 1,812 30...................... 158,929 338,011 416,220 445,995.................................. 158,929 286,227 391,078 445,995.................................. 51,784 25,142 158,929 338,011 416,220 445,995................................ 16,052 17,205 14,050......................... 143,312 289,409 294,726 312,618.................................... 2,169 159,364 289,409 314,100 326,668............. 300,000................................ 30,894 300,000 30,894 I-61

........................... 1.79% 3.36% 3.28% 6.70% 1.26% 6.90% 1.20% 6.90%........................... 1.49% 2.05% 0.96% 2.38% 2.21% 1.8%................................................... 142,877................................................... 51,784................................................... 48,228....................................................... 37,072 31.......................................................... 2,616.......................................................................... 1,816.......................................................................... (2,523)................................................... 1,909.......................................................................... 2,910.......................................................................... (2,022)................................................... 2,797.......................................................................... 3,454.......................................................................... (3,028)................................................... 3,223.......................................................................... 1,864.......................................................................... (1,402)....................................................... 3,685 I-62

32. 0.01......... 500,000,000 5,000,000 31,397..................... 1 0.01......... 99 0.99.... 100,100,000 1,001,000 6,286........... 100,100,100 1,001,001 6,286 5500,000,000 0.01 1 Pioneer BVI0.01 Pioneer BVI99 Pioneer BVI 100,100,000 Pioneer BVI 33................ 3.6% 4,642 1,616 11,431.... 921 768 (421)................... 11,431 921 768 (421) I-63

34. 2 117,814,000 47,327,000 29(d).............................................. 34,646 29(d).............................................. (92,652) (58,006) 22..................................................... (59)..................................................... 26,020............................................................. (106)............................................................. 776 16......................................................... (6,390) 16................................................. (8,479)................................................................ (1,083) 10,679 (47,327) 35................................... 216 246 1,000............ 216 30 1,987 432 276 2,987 334,000 594,000775,000410,000 I-64

.................................. 365 758 758............ 1,064 2,412 1,539 1,429 3,170 2,297 36. 100% 2,800,0002,800,000............................................................... (2,800)....................................................... 2,800 37. 2,843,000 3,166,000 5,503,000 2,078,000 3,455,000 443,000 757,000 I-65

B. 975,000 C. i) Pioneer Pharma (BVI) 399,899,9005 ii) 2,500,000,000 0.01 5,000,000 30,000,000 D. I-66

A. 1 2 3 5 4.10.... (9,525) 1,025,290 1,015,765 0.76 0.96 5.00.... (9,525) 1,255,108 1,245,583 0.93 1.18 (1) 6.1 15.6 (2) 333,334,000 4.103.25 5.003.96 0.79221 (3) 2 1,333,334,000 (4) (5) 0.79221 II-1

B. II-1 II-1 4.29 7 7 4.29(7) 3420 II-2

4.29 7 (a) (b) (c) 4.29(1) II-3

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

(iii) (iv) (v) (vi) III-2

(aa) (bb) (cc) (dd) (ee) (5%) (1) (2) (ff) III-3

(vii) (viii) III-4

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

(x) (xi) (b) (c) (i) (ii) (iii) (iv) (v) (d) III-6

(e) 14 III-7

30 (f) (g) (h) 15 (i) 21 20 21 10 14 10 (i) (ii) (a) (b)(c) III-8

(d) (e) (f) (g) (j) (k) (l) III-9

(m) (n) 21 III-10

(o) (i) (ii) (a) (b) III-11

(p) 2.50 (q) 14 III-12

(r) 3(f) (s) (i) (ii) III-13

(t) (i) 12(ii) 12 (iii) 12 (u) 3. (a) (b) (a) (b) III-14

(c)37(d)(e) (c) (d) III-15

(e) 34 34 (f) (a)(b) (c) (a)(b) (c)(d) III-16

(g) (h) (i)(ii) (iii) (i) (j) 6 (i) (ii) 20 (k) III-17

(l) (m) (n) (a) (b)(c) (d) III-18

21 (o) (p) III-19

(q) (r) 4. Walkers III-20

A. 1. 682 26 2605 XI 15 8 2. 5,000,000500,000,0000.01 Walkers Nominees Limited Pioneer Pharma (BVI) 0.01 Pioneer Pharma (BVI)99 Pioneer Pharma (BVI) 100,100,000 Pioneer Pharma (BVI) 399,899,900 5,000,000500,000,000 0.01 2,500,000,000 5,000,000500,000,0000.01 30,000,0003,000,000,0000.01 13,333,340 1,333,334,0001,666,666,000 IV-1

3. (a) (b) (c) 2,500,000,000 5,000,000 500,000,000 0.01 30,000,000 3,000,000,0000.01 (1) (2) (i) (ii) (d) (e) 5,000,000 Pioneer Pharma (BVI) 500,000,000 (d) 20% IV-2

(f) (g) 10% (e) (f) (e) 10% (e) (f) (g) (1) (2) (3) 4. 5. (1) IV-3

100%50,210,000 2.88 5.2 35%19,690,000 70%300,000 1 1 60%10% (2) 7,743,600 IV-4

Pioneer Medident Pioneer Medident Pioneer Medident 6 Asian Strategic Alliance Partners Pioneer Medident 4 Asian Strategic Alliance Partners 199,99479,996 Pioneer Medident 199,99479,996 1 1,000,0001 Asian Strategic Alliance Partners Grand Hill Technology 600,000200,000 200,000 5 5,000,0001 1,001,000 1,001,000 3,998,9995 6. 7. IV-5

(i) (a) 10% (b) (c) 10% 30 5% (d) IV-6

(e) (aa) (bb) (f) 30 (g) (ii) (iii) 1,333,334,000 133,333,400 IV-7

26 B. 1. (i) (ii) NovaBay 2,000,000 (I) NovaBay (II)1.50 NovaBay 2,500,000 QualiMed700,000 Q3 (iii) Eric Mangiardi Angelika Baldewein Günter Dei ner Gerd Schober Martina Schmitt Manfred Gülcher Thomas Nissl Clemens Meyer Kobbe-Kobbe Mitchtech SA Q3 1.8 3.2 (iv) (v) 210,000 NovaBay IV-8

3 (vi) Q3 QualiMed AMG Dei ner-schober Gesellschaft bürgerlichen Rechts Ni l-gülcher Gesellschaft bürgerlichen Rechts eventions LLC Dei ner & Schober Haus- und Grundstücksverwaltung GbR QualiMed AMG Q3 Q3 1.83.2 (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) Q3 Q3 Q3 Q3 Angelika Baldewein12,856 Q3 Q3 500,000 Gerhard Schober12,856 Q3 Q3 500,000 Günter Deißner12,856 Q3 Q3 500,000 QualiMed Q3 QualiMed Q3 7,743,600 100% 50,210,000 35% 19,690,000 IV-9

(xv) (xvi) 70% 300,000 D. 1. (xvii) (xviii) Covex (xix) 2. 17,179.4 2,478,666.7 42 3,269.2 328,750.1 IV-10

2 C 2102 2202 2103 2203 1000 22301 528 95,040 1,289.08 180,000 2,296.1 600,000 137.68 24,000 682 26 05 78.5 153,600 Blk 998 Toa Payoh North #03 10 Singapore 318993 46.5 18,000 C. 1. XV XV7 8 352 (i) (1) 1,000,000,000 75.0% (1) Pioneer Pharma (BVI) 48.5% 48.5% IV-11

(ii) (1) Pioneer Pharma (BVI) 9,700,000 97% (2) Q3 1,176 0.43% Q3 9,923 3.98% (1) 9,700,000 Pioneer Pharma (BVI) 4,850,000 4,850,000 Pioneer Pharma (BVI) (2) Q3 2. 3. (a) XV 78 352 (b) (c) IV-12

D. 1. B. 1. 11135 2. 3. 6,700 4. 5. Walkers Frost & Sullivan 16 7 IV-13

6. Pioneer Pharma (BVI) Intertrust Corporate Services (BVI) Limited 171 Main Street, Road Town Tortola VG 1110 British Virgin Islands 50,000,000 (1) (1) 7. 44A44B 8. 32L 4 E. (a) (i) (ii) (iii) (iv) (v) (b) D. 5. IV-14

(c) (d) D. 5. Intertrust Corporate Services (Cayman) Limited IV-15

(a) (b) D. 5. (c) B. 1. (d) 14 15 12 (a) (b) (c) (d) (e) Walkers (f) (g) B. 1. (h) D. 5. (i) (j) Frost & Sullivan V-1