Hans Energy Company Limited HANS ENERGY COMPANY LIMITED 00554 5 15 50% 14.44
............................................................... 1........................................................ 5...................................... I-1 A...................... IIA-1 B.................. IIB-1 C.................. IIC-1........................... III-1......................... IV-1.................................... V-1............................................... VI-1 i
ABL Ascendal Bravo Limited Glorify TWB Holdings ABL TWB Holdings695 BTHL ABL5 BTHL BTHL Bravo Transport Holdings Limited BTHL BTHL BTHL TWB Holdings Glorify ABL BTHL BTHL TWB Holdings Glorify ABL BTHL BTHL BTHL 1
Hans Energy Company Limited 1 2 Glorify Glorify Group Limited 2
Glorify TWB Holdings ABL BTHL 500,000,016 BTHL BTHL Glorify TWB Holdings ABL 700 BTHL BTHL7% 0.10 BTHL 3
90 TWB Holdings Templewater Bravo Holdings Limited % 4
HANS ENERGY COMPANY LIMITED 00554 P.O. Box 309 Ugland House Grand Cayman, KY1-1104 Cayman Islands 25 26 2608 (i) TWB Holdings Glorify ABLBTHL BTHL (ii) 14.07 14.2225% 100% 14 5
(i) (ii) (iii)(iv) (i) Glorify (ii) TWB Holdings (iii) ABL TWB Holdings ABL TWB Holdings ABLGlorify 700 BTHLTWB Holdings 695 BTHL ABL 5 BTHL BTHL7% (a) 489 BTHL 70%486 BTHL 3 BTHL Glorify TWB Holdings ABL (b) 211 BTHL 30%209 BTHL 2 BTHL Glorify TWB Holdings ABL BTHL TWB Holdings Glorify ABL 83.90% 15.56% 0.54% 350,000,000 44,929,397 500,000 Glorify TWB Holdings ABL 1. TWB Holdings 243,000,000 ABL 1,500,000 31,193,838 192,555 6
2. TWB Holdings 104,500,000 ABL 1,000,000 13,414,634 128,370 Glorify TWB Holdings ABL Glorify TWB Holdings ABL TWB Holdings Glorify ABL (i) (ii) (iii) BTHL3(iv) BTHL Glorify 350,000,000 44,929,397 (1) TWB Holdings ABL BTHL (2) Glorify (3) TWB Holdings ABL (4) Glorify 7
(5) Glorify Glorify BTHL 50 (6) 50% Glorify TWB Holdings ABL 90 Glorify TWB Holdings ABL BTHL 15.56% Glorify BTHL BTHL Glorify ABL BTHL 51% TWB Holdings TWB Holdings TWB Holdings5,100 BTHL 8
GlorifyTWB Holdings250 BTHL 51%GlorifyBTHL 51% GlorifyTWB Holdings 107 BTHL Glorify51% 51% Glorify BTHL BTHL BTHL 100% 230 BTHL Bravo Media Ltd BTHL 1 2 343,806 282,841 3,394,690 1 BTHL 2 9
1,018,769 953,141 13.65 Glorify Glorify TWB Holdings TWB HoldingsTemplewater I, L.P. Victoria SPC LtdTWB Holdings Templewater I, G.P. Templewater I, G.P. Templewater Holdings Limited Templewater Holdings Limited Investec Bank plc Investec Investec plc Investec Limited Investec Bank plc Investec plc Investec plc Templewater Holdings Limited Templewater Holdings Limited 50% Templewater Holdings Limited 10
ABL ABL ABL Ascendal Holdings Limited Ascendal Group Limited Ascendal Group Limited Adam Leishman Leishman Tower Transit (British International Company of the Year Award) Ascendal Group Limited 50 ABL Adam Leishman COVID-19 BTHL 11
BTHL Glorify BTHL 1,352,365,000 244,500,000 489 BTHL 2,286,716,000 934,351,000 211 BTHL 105,500,000 1,352,365,000 14.67(6)(a)(i) 14.67(6)(a)(i) 14.67(6)(a)(i) (a) Glorify15.56% Glorify BTHL 12
(b) (c) 14.67(6)(a)(i) (d) (e) (f) (a) AC 13
(b) (c) 14.67(6)(a)(i) 14.07 14.2225% 100% 14.44 Vand Petro-Chemicals (BVI) Company Limited 2,338,430,000 59.10% 14.44 14
TWB HoldingsGlorify 51%BTHL GlorifyBTHL 51%BTHL 5%25% Vand Petro-Chemicals (BVI) Company Ltd 14.44 Hans Energy Company Limited 15
1. (i) 87 207 4 18 (ii) 100 211 417 (iii) 103 219 418 (http://www.hkex.com.hk)(http://www.hansenergy.com) https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0408/2020040800227.pdf https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0427/2021042700417.pdf https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0425/2022042501067.pdf 2. 8.71 7.90 8,100 7.90 3.43 1.72 2,400 I-1
3. 4. (i) (ii)(iii) 14.66(12) 5. I-2
A Bravo Transport Holdings Limited Bravo Transport Holdings Limited 5 66 1
A 2
A 3
A 4
A 5 3,394,690 5 244,446 3,639,136 23 59,944 9 (2,111,958) (243,424) (206,765) (134,104) (673,041) (299,520) (254,582) (3,923,394) 6 (224,314) 7 (119,492) (343,806) 8 60,965 (282,841) 11 66 5
A (282,841) 17(b) 21,766 15 192,140 213,906 157,194 (73) (24,184) 132,937 346,843 64,002 11 66 6
A 10 3,284,788 12 272,237 19(a) 15,131 3,572,156 14 44,715 16 242,180 19(a) 33,150 99 25(b) 505,255 825,399 15 460,000 4,857,555 11 66 7
A 21 1,384,481 (18,985) 1,365,496 22 1,571,173 17 1,207 20 238,805 14,052 12 147,652 24 657,066 2,629,955 22 56,715 17 478,215 17 122,384 19(b) 4,573 6,469 18 73,347 12 118,682 1,719 862,104 3,492,059 4,857,555 11 66 8
A 1,384,481 1,384,481 (282,841) (282,841) (282,841) 21,766 21,766 21,766 192,140 192,140 192,140 132,937 132,937 132,937 132,937 21,766 192,140 346,843 346,843 132,937 21,766 192,140 (282,841) 64,002 64,002 (82,987) (82,987) (82,987) 1,384,481 49,950 21,766 192,140 (282,841) (18,985) 1,365,496 11 66 9
A 25(a) 277,548 2,302 279,850 (223,284) 1,053 23 (1,975,389) 45,131 696 89,095 (2,062,698) 1,384,481 25(c) 1,950,000 25(c) (901,125) 25(c) (27,675) 25(c) (38,507) 25(c) (2,459) (72,986) (3,626) 2,288,103 505,255 505,255 11 66 10
A 1 Bravo Transport Holdings Limited Templewater Bravo Holdings Limited Glorify Group Limited Ascendal Bravo Limited 2 (a) 36,705,000 Templewater Bravo Holdings Limited 4 11
A (i) (ii) 16 COVID-19 16 COVID-19 COVID-19COVID-19 COVID-19 COVID-19 12
A (iii) 5 1 1 2 8 12 16 37 3 10 28 17 17 5 12 12 15 24 13
A (b) (i) 14
A (ii) (iii) 15
A (c) 16
A 40 40 1 10,000 12 20 1 10,000 8 4 6 7 3 6 7 (d) (e) 17
A (f) (g) (i) 18
A (ii) (iii) 19
A (iv) 9 3(a) (iv) 20
A 12 (h) (i) (ii) 19 (i) 21
A (ii) (i) (j) (k) (l) 12 (m) 22
A (n) 12 5,000 39,000 23
A 16 COVID-19 COVID-19 COVID-19 a b c 16 COVID-19 COVID-19 (o) (i) (ii) (iii) 24
A (iv) (p) 25
A (q) (r) (i) (ii) (iii) (iv) (v) (s) (i) 26
A (ii) (iii) (1) (2) (3) (t) (u) (v) 27
A 3 (a) (i) 19 (ii) 19 (iii) 100 28
A 1% 241 (1%) (241) 1% 32 (1%) (32) (iv) 9 29
A 12 9 (v) 30
A 46,338 46,338 46,338 189,826 189,826 189,826 113,835 1,714,330 1,828,165 1,627,888 126,104 153,920 280,024 266,334 710,000 710,000 657,066 476,103 2,578,250 3,054,353 2,787,452 9,184 9,184 4,573 (b) 31
A 1,627,888 (505,255) 1,122,633 1,365,496 82.21% (c) (i) (ii) (iii) 32
A 460,000 460,000 21,540 21,540 11,610 11,610 15,131 15,131 48,281 460,000 508,281 4,573 4,573 267,860 192,140 460,000 33
A 4 (a) 2(f) (b) (c) 17(b) (d) 17(b) 17(b)(iii) 34
A (e) (f) 20 (g) (h) 23 (i) 35
A 5 3,080,535 228,405 23,049 9,195 15 45,131 8,375 3,394,690 50,716,000 36
A 3,107,474 232,890 9,195 45,131 3,394,690 80,967 29,210 51,757 80,967 15 37
A (i) 81,389 COVID-19 (ii) 92,982 13,118 1,191 107 924 6(ii) 34,080 20,655 244,446 (i) (a) (b) COVID-19 73,546,000 7,843,000 59,240,000 (ii) COVID-19 COVID-19 COVID-19 38
A 6 923 10 538,639 12 134,402 9 2,111,958 (i) 243,424 206,765 (ii) 299,520 12 24,362 17(b) 40,304 (i) (ii) 99,386,000 COVID-19 39
A 7 74,874 7,907 21,066 12 13,329 2,316 119,492 8 1,682 20 (62,647) (60,965) 40
A (343,806) 16.5% (56,728) (29,672) 82 (11) 25,302 62 (60,965) 9 2,022,829 91,276 (1,403) 17(b) (744) 2,111,958 41
A 10 567,474 29,188 2,924,959 53,418 9,037 2,273 112,073 3,698,422 30,132 29,269 1,982 597 63,154 125,134 (1,350) (1,690) (288) (263) (60) (3,651) 17,151 2,161 1,746 (21,058) 567,474 29,188 2,970,892 83,158 12,477 2,607 154,109 3,819,905 86,084 16,377 412,627 18,006 4,739 806 538,639 (1,281) (1,690) (288) (263) (3,522) 86,084 16,377 411,346 16,316 4,451 543 535,117 481,390 12,811 2,559,546 66,842 8,026 2,064 154,109 3,284,788 98,151,000 42
A 11 1 (1) Proud Dragon Global Limited 100 40% 10,000 12 i 268,429 ii 3,478 330 272,237 118,682 147,652 266,334 43
A (i) (ii) (iii) 4,865,000 6 131,723 2,486 193 134,402 7 13,329 6 24,362 65,328 44
A 13 # # Bravo Media Holdings Limited 500,000,016 1 100 1 100% 100% 37,500,000 376,295,750 800,000 8,000,000 100% 100% 200,000,000 1 100% 100 1 100% # 45
A 14 43,699 1,016 44,715 15 460,000 5 45,131 192,140 46
A 460,000,000 1,499,000 16 (a) (c)(i) 78,015 (b) (c)(i) 29,672 (c)(ii) 100,770 (c)(ii) 33,723 242,180 (a) 58,439 19,149 367 35 25 78,015 (b) 47
A (c) (i) 9 (ii) 12 (iii) 238,114 3,801 236 29 242,180 48
A 17 (a) 46,338 431,877 478,215 (b) 123,591 601,806 (1,207) 600,599 (a) 4,892 38,969 2,477 46,338 49
A (b) (i) (ii) (iii) 139,243 25,254 164,497 40,304 40,304 (57,478) (1,222) (58,700) (756) (756) 12 12 (744) (744) (19,320) (19,320) (2,456) (2,456) 10 10 (21,766) (21,766) 122,069 1,522 123,591 (i) (ii) % 0.80 1.80 4.50 4.75 50
A (iii) 0.25% 0.25% (10) 10 42 (44) (103) 110 (c) 564,730 26,193 5,640 3,709 680 854 601,806 18 73,347 51
A 19 (a) 71,547 281,161 22,210 374,918 21,540 11,610 15,131 48,281 21,540 11,610 33,150 15,131 15,131 70.20 100.00 0.755% 52
A (b) 9,184 (4,573) (4,573) 0.755% (c) 141,102 5,461 10,558 73 157,194 (82,987) (82,987) (73) (73) (23,283) (901) (24,184) 34,832 4,560 10,558 49,950 53
A 88,615,000 20 293,667 8 (62,647) 7,785 238,805 16.5% 54
A 571,326 (253,154) (24,505) 293,667 8 (69,715) (14,332) 21,400 (62,647) 7,785 7,785 501,611 (267,486) 4,680 238,805 178,921,000 54,931 183,874 238,805 55
A 21 50,000 1 1 99 1 9,900 178,661,170 1,384,481 10,000 178,661,172 1,384,481 50,000 22 1,627,888 56,715 1,571,173 1,627,888 (i) 1,245,000,000 A A 31,125,000 56
A (ii) (iii) 200,000,000B 400,000,000C B C 165,000,000 (a) (b) (iv) (v) (vi) (vii) 3.28% 1,648,875,000 20,987,000 23 100%3,200,000,000 57
A 2,490,000 24 710,000 3,200,000 (i) (280,000) 2,920,000 24 (74,000) 2,846,000 (2,905,944) (ii) (59,944) (i) (ii) 280,000,000 59,944,000 Kroll (HK) Limited 58
A 3,698,422 401,775 267,860 70,379 425,749 386 2,979 234,611 (680,030) (28,484) (70,076) (119,139) (405,467) (598,781) (293,667) (573) 2,905,944 234,611 (2,210,000) (1,975,389) 3,366,432,000307,045,000 3,867,270,000 285,273,000 59
A 24 100% 710,000,000 636,000,000 2.45% 2.78% 25 (a) (224,314) 538,639 134,402 (924) (7,843) COVID-19 (92,982) (1,191) (45,131) (59,944) 240,712 (6,149) 25,664 72,319 (54,998) 277,548 60
A (b) 84,000 420,389 866 505,255 497,799 1,845 3,151 2,460 505,255 (c) (405,467) (598,781) (1,950,000) 901,125 27,675 (7,907) 38,507 2,459 COVID-19 116,361 (4,865) (13,329) (266,334) (1,627,888) 61
A 26 (a) 73,633 (b) 18,703 (c) (i) 34 (ii) 15,006 62
A 27 14,628 891 15,519 28 COVID-19 COVID-19 COVID-19 63
A 2022 426 64
A 29 2,846,001 11 31 350,028 350,070 3,196,071 1,384,481 30 (68,830) 1,315,651 657,066 2,101 31 1,221,253 1,223,354 1,880,420 3,196,071 65
A 30 (68,830) (68,830) 31 66
A 638,854 9,764 648,618 (645,995) (7,254) (21,750,000) (12,533,552) (1,639,336) (36,576,137) (35,927,519) (32,903,412) (68,830,931) (68,830,931) 67
B 5 60 1
B 2
B 3
B 4
B 5 3,137,158 3,828,440 (3,413,087) (3,688,053) (275,929) 140,387 5 279,937 100,270 5 (847,200) (145,452) (218,876) (1,273) (4,047) 6 (989,917) 17,734 7 (28,852) (11,752) (1,018,769) 5,982 8 65,628 2,945 (953,141) 8,927 11 60 5
B (953,141) 8,927 (16,605) (7,475) (49,837) 2,489 (66,442) (4,986) (197,114) (13,647) 6 60,449 (13,888) 8,923 23,339 (104,403) (27,535) (170,845) (32,521) (1,123,986) (23,594) 11 60 6
B 10 3,744,121 3,897,113 11 99,495 946,695 12 433,604 14 267,860 317,697 4,545,080 5,161,505 15 73,016 61,340 16 319,116 293,994 17 32,145 102,145 18 20 19 264 520 21(a) 613 3,253 2,979 1,190 25(b) 161,115 171,957 589,268 634,399 5,134,348 5,795,904 11 60 7
B 23 500,000 500,000 2,572,784 3,726,556 3,072,784 4,226,556 24 523,470 487,390 20 21,942 9,364 21(b) 47,967 22 338,931 426,671 23,755 30,223 12 319,819 1,275,884 953,648 20 571,364 590,425 19 333 517 21(b) 93,886 16,751 6,468 7,742 12 113,098 531 265 785,680 615,700 2,061,564 1,569,348 5,134,348 5,795,904 11 60 8
B 500,000 710,960 (13,498) (3,031) 310,431 2,721,694 3,726,556 4,226,556 16 2(a)(ii) (29,786) (29,786) (29,786) 500,000 710,960 (13,498) (3,031) 310,431 2,691,908 3,696,770 4,196,770 (104,403) (16,605) (49,837) (953,141) (1,123,986) (1,123,986) 500,000 710,960 (117,901) (19,636) 260,594 1,738,767 2,572,784 3,072,784 500,000 710,960 16,447 4,444 309,988 2,708,311 3,750,150 4,250,150 (27,535) (7,475) 2,489 8,927 (23,594) (23,594) (2,410) (2,046) 4,456 500,000 710,960 (13,498) (3,031) 310,431 2,721,694 3,726,556 4,226,556 11 60 9
B 25(a) 278,868 447,536 (296) (32,826) 278,572 414,710 (217,983) (496,203) 3,067 3,634 26,155 21,870 980 1,159 2,580 (73,182) (187,781) (540,142) 25(c) 525,000 645,000 25(c) (490,000) (505,000) 25(c) (108,666) 25(c) (15,232) (12,473) (10,169) (262) (395) (101,633) 129,436 (10,842) 4,004 171,957 167,953 25(b) 161,115 171,957 11 60 10
B 1 NWS Service Management LimitedNWSSM 2 2(a)(ii) 2(a)(iii) (a) 196,412,000 Bravo Transport Holdings Limited 4 11
B (i) 16 9 19 23 2(a)(ii)16 16 2(a) (iii)16 COVID-19 (ii) 16 16 2(b) 16 17 17 3.2% 16 12
B 17 17 16 26(b) 51,287 50,029 462,203 (19,195) 493,037 102,537 390,500 493,037 13
B 16 492,138 492,138 293,994 (28,887) 265,107 102,537 102,537 390,500 390,500 3,726,556 (29,786) 3,696,770 (iii) 16 COVID-19 16 COVID-19 COVID-19 COVID-19 COVID-19 14
B (iv) 3 9 39 7 10 28 1 1 8 16 (b) 2(a)(ii) 16 16 12 15
B 12 17 (c) (i) 16
B (ii) (d) 17
B 20 40 40 1 10,000 12 20 1 10,000 8 4 6 0 10,000 15 10,000 15 10,000 5 5 7 3 6 7 18
B (e) (f) (g) (h) 19
B (i) (i) (ii) (iii) 20
B 21
B (iv) 9 4(e) 12 (j) (i) (ii) 21 (i) 22
B (ii) (iii) (k) (l) 23
B (m) (n) 12 24
B (i) (ii) 2(d) 2(r)(iii) (o) (i) (ii) (iii) 25
B (iv) (p) 26
B (q) (r) (i) (ii) (iii) (iv) (v) (s) (i) (ii) 27
B (iii) (1) (2) (3) (t) (u) (v) 28
B 3 (a) (i) 21 (ii) 21 (iii) 9 29
B 12 9 30
B (iv) 416,673 416,673 416,673 333 333 333 11,850 531,687 543,537 523,470 125,976 310,440 27,932 464,348 432,917 554,832 842,127 27,932 1,424,891 1,373,393 (22,826) (22,826) 23,226 23,226 400 93,486 47,967 141,453 141,453 93,886 47,967 141,853 141,853 31
B 423,192 423,192 423,192 517 517 517 11,024 507,276 518,300 487,390 434,733 507,276 942,009 911,099 (212,999) (212,999) 224,460 224,460 11,461 5,290 5,290 5,290 16,751 16,751 16,751 32
B (b) 523,470 487,390 (161,115) (171,957) 362,355 315,433 3,072,784 4,226,556 11.79% 7.46% (c) (i) (ii) (iii) 33
B 267,860 267,860 613 613 613 267,860 268,473 141,453 141,453 400 400 141,853 141,853 34
B 317,697 317,697 3,234 3,234 19 19 3,253 317,697 320,950 5,290 5,290 11,461 11,461 16,751 16,751 4 (a) 2(h) 11 847,200,000 35
B (b) (c) 20(a) (d) 20(a) 20(a)(ii) 36
B (e) (f) 22 (g) 5 2,878,228 3,557,995 176,109 172,884 42,001 31,704 7,389 21,239 26,155 21,870 7,276 22,748 3,137,158 3,828,440 37
B 206,353 68,118 46,626 5,350 5,410 953 1,178 1,912 944 304 172 182 18,257 24,448 279,937 100,270 847,200 (i) (ii) (iii) (iv) COVID-19 198,611,000 6,469,000 6,466,000 59,240,000 59,240,000 SCR 1,273,000 4,047,000 57,605,000 38
B 6 1,982 2,357 (39) (73) 10 373,937 372,386 12 107,080 9 1,915,518 2,078,034 504,936 593,940 12 64,647 195,065 11,536 20(a) 46,721 39,379 4,503 60,449,000 13,888,000 7 12,302 10,294 1,080 1,080 238 378 12 15,232 28,852 11,752 39
B 8 583 6,524 (1,810) (2,999) (1,227) 3,525 22 (66,183) (9,438) 1,782 2,968 (64,401) (6,470) (65,628) (2,945) 16.5% 16.5% (1,018,769) 5,982 16.5% 16.5% (168,097) 987 (37,215) (3,806) 139,869 120 (135) (182) (28) (31) (22) (33) (65,628) (2,945) 40
B 9 1,835,779 1,967,876 84,351 87,102 (5,446) 18,634 20(a) 834 4,422 1,915,518 2,078,034 1,915,518,000 2,078,034,000 1,814,968,000 1,932,569,000 41
B 10 879,642 120,945 4,911,978 322,179 72,055 29,720 141,938 6,478,457 1,589 163,163 7,046 3,557 485 47,992 223,832 (735) (72,387) (76,894) (965) (46) (151,027) 86,986 475 490 35 (87,986) 879,642 121,799 5,089,740 252,806 75,137 30,194 101,944 6,551,262 492,381 80,914 1,652,387 265,630 62,602 27,430 2,581,344 16,537 2,834 337,724 12,536 3,666 640 373,937 (735) (69,536) (76,871) (964) (34) (148,140) 508,918 83,013 1,920,575 201,295 65,304 28,036 2,807,141 370,724 38,786 3,169,165 51,511 9,833 2,158 101,944 3,744,121 42
B 896,770 127,373 4,790,726 235,491 338,188 80,204 29,924 85,117 6,583,793 975 299,803 4,771 8,190 4,523 543 160,635 479,440 (628) (279,486) (4,247) (2,057) (800) (97) (287,315) 452 102,210 58 1,094 (103,814) (16,500) (7,855) (1,275) (236,015) (22,200) (12,966) (650) (297,461) 879,642 120,945 4,911,978 322,179 72,055 29,720 141,938 6,478,457 482,015 86,075 1,605,838 229,621 271,850 69,126 27,293 2,771,818 27,047 2,649 318,990 4,562 13,657 4,789 692 372,386 (628) (271,465) (4,223) (1,965) (800) (97) (279,178) (16,053) (7,810) (976) (229,960) (17,912) (10,513) (458) (283,682) 492,381 80,914 1,652,387 265,630 62,602 27,430 2,581,344 387,261 40,031 3,259,591 56,549 9,453 2,290 141,938 3,897,113 43
B 11 946,695 946,695 (847,200) 99,495 946,695 99,495 946,695 847,200,000 12 i 431,370 488,491 ii 2,057 3,090 177 557 433,604 492,138 113,098 102,537 319,819 390,500 432,917 493,037 44
B (i) (ii) (iii) 48,545,000 6 105,024 1,676 380 107,080 7 15,232 6 64,647 165,535 45
B 13 37,500,000 376,295,750 800,000 8,000,000 100% 100% 100% 100% # BVI 200,000,000 1 100% 100% # 14 267,860 317,697 5 26,155 21,870 (49,837) 2,489 46
B 15 71,864 61,541 1,695 645 73,559 62,186 (543) (846) 73,016 61,340 16 i 267,288 205,353 51,828 88,641 319,116 293,994 (i) 9 12 47
B (ii) 228 179 26 23 254 202 17 32,145 102,145 18 20 19 264 520 333 517 48
B 20 416,673 423,192 (a) 176,633 176,597 593,306 599,789 (21,942) (9,364) 571,364 590,425 (a) (i) (ii) 164,826 11,771 176,597 46,721 834 47,555 16,605 16,605 (60,326) (3,798) (64,124) 151,221 25,412 176,633 (i) (ii) 177,597 19,788 197,385 39,379 4,422 43,801 7,475 7,475 (52,150) (5,137) (57,287) (14,777) (14,777) 164,826 11,771 176,597 (i) 49
B (ii) % % 0.50 1.60 3.00 5.00 3.75 5.25 4.00 5.25 +0.25% 0.25% (233) 238 223 (287) (1,608) 1,799 (b) 37,742 34,399 11,573 1,054 1,500 3,374 1,765 1,652 52,580 40,479 50
B 21 (a) 200,217 3,625 66,971 200,217 70,596 613 19 3,234 613 3,253 22,830 3,625 22,830 3,625 (22,217) (3,606) (22,217) (3,606) 3,234 3,234 613 19 3,234 613 3,253 51
B (b) 23,227 224,460 473,629 181,238 496,856 405,698 (400) (11,461) (141,453) (5,290) (141,853) (16,751) 22,826 212,999 22,826 212,999 (23,226) (224,460) (23,226) (224,460) (93,486) (5,290) (93,486) (5,290) (400) (11,461) (93,486) (5,290) (93,886) (16,751) (47,967) (47,967) 22 426,671 433,602 8 (64,401) (6,470) (23,339) (461) 338,931 426,671 52
B 16.5% 16.5% 565,369 (138,180) (518) 426,671 8 (3,164) (61,327) 90 (64,401) (23,339) (23,339) 562,205 (199,507) (23,767) 338,931 522,081 (87,275) (1,204) 433,602 8 44,567 (51,368) 331 (6,470) (1,279) 463 355 (461) 565,369 (138,180) (518) 426,671 25,600,000 25,100,000 39,995 39,069 298,936 387,602 338,931 426,671 53
B 23 1 1,000,000,000 1,000,000 1 500,000,016 500,000 24 523,470 487,390 523,470 487,390 (i) (ii) (iii) 2.26% 2.25% 523,470,000 487,390,000 525,000,000 490,000,0001,530,000 2,610,000 54
B 25 (a) (989,917) 17,734 373,937 372,386 107,080 847,200 (182) 4,503 (7,742) (10,516) 1,273 4,047 (953) (1,178) (26,155) (21,870) 304,541 365,106 (11,676) 2,614 (55,047) 25,412 (29,002) 62,342 70,000 (8,300) (20) 72 362 278,868 447,536 (b) 36,683 25,733 122,761 142,969 1,671 3,255 161,115 171,957 55
B 664 13,796 101 823 219 642 984 15,261 (c) (346,310) (645,000) 505,000 (1,080) (487,390) 16 (493,037) (493,037) (487,390) (525,000) 490,000 (1,080) 108,666 15,232 (48,546) (15,232) (432,917) (523,470) 56
B 26 (a) 116,988 228,054 (b) 49,683 1,604 51,287 2(b) 18,437 (c) 11,045 11,034 57
B 27 (a) 5,190 5,881 874 857 (11,228) (10,302) (b) 240 240 10,268 23,124 10,508 23,364 58
B 28 754 1,166 4,444,335 4,444,335 4,445,089 4,445,501 210,000 206,000 102,145 102,145 6 11 28,771 59,971 340,922 368,127 4,786,011 4,813,628 500,000 500,000 29 3,729,126 3,727,172 4,229,126 4,227,172 550 441 556,015 586,015 320 556,885 586,456 556,885 586,456 4,786,011 4,813,628 59
B 29 710,960 3,016,212 3,727,172 1,954 1,954 710,960 3,018,166 3,729,126 710,960 669,271 1,380,231 2,346,941 2,346,941 710,960 3,016,212 3,727,172 30 Bravo Transport Holdings Limited 60
B 2,254,104,994 3,513,574 2,183,763 15,033 91,654,678 (1,237,614) (964,909) 2,275,960 2,346,993,559 (1,627) (52,953) 2,274,333 2,346,940,606 (320,260) 1,954,073 2,346,940,606 91,654,678 61
C 2019 2019 6 30 2019 6 30 4 45 2019 6 30 2019 6 30 1
C 2019 2
C 2019 2019 12 12 3
C 2019 2019 6 30 2019 2018 6 3,828,440 3,539,964 (3,688,053) (3,215,584) 140,387 324,380 6 100,270 100,600 (218,876) (215,254) (4,047) (10,283) 7 17,734 199,443 8 (11,752) (8,183) 5,982 191,260 9 2,945 (28,411) 8,927 162,849 10 45 4
C 2019 2019 6 30 2019 2018 8,927 162,849 (7,475) 14,719 2,489 (4,986) 14,719 (13,647) 98,066 7 (13,888) (71,752) 24,311 (27,535) 50,625 (32,521) 65,344 (23,594) 228,193 10 45 5
C 2019 2019 6 30 2019 2018 12 3,897,113 3,811,975 13 946,695 946,695 15 317,697 15 7,288 17 1,273 22 87,275 5,161,505 4,854,506 16 61,340 94,364 17 293,994 357,519 19 102,145 18 520 502 21(a) 3,253 16,447 1,190 25(b) 171,957 167,953 634,399 636,785 5,795,904 5,491,291 10 45 6
C 2019 2019 2018 23 500,000 500,000 3,726,556 3,440,162 4,226,556 3,940,162 24 487,390 346,310 20 9,364 18,009 22 426,671 520,877 30,223 37,965 953,648 923,161 20 590,425 574,157 19 8,300 18 517 137 265 34,858 21(b) 16,751 7,742 10,516 615,700 627,968 1,569,348 1,551,129 5,795,904 5,491,291 10 45 7
C 2019 2019 6 30 2018 6 30 500,000 710,960 16,447 4,444 2,708,311 3,440,162 3,940,162 9 309,988 309,988 309,988 2018 7 1 500,000 710,960 16,447 4,444 309,988 2,708,311 3,750,150 4,250,150 (27,535) (7,475) 2,489 8,927 (23,594) (23,594) (2,410) (2,046) 4,456 2019 6 30 500,000 710,960 (13,498) (3,031) 310,431 2,721,694 3,726,556 4,226,556 2017 7 1 500,000 710,960 (34,178) (10,275) 2,705,462 3,371,969 3,871,969 50,625 14,719 162,849 228,193 228,193 (160,000) (160,000) (160,000) 2018 6 30 500,000 710,960 16,447 4,444 2,708,311 3,440,162 3,940,162 10 45 8
C 2019 2019 6 30 2019 2018 25(a) 447,536 487,205 (32,826) (5,582) 414,710 481,623 (496,203) (481,933) 3,634 3,913 2,580 16,134 21,870 18,630 1,159 610 (73,182) (540,142) (442,646) 25(c) 645,000 210,000 25(c) (505,000) (130,000) (160,000) (10,169) (5,665) (395) (228) 129,436 (85,893) 4,004 (46,916) 167,953 214,869 25(b) 171,957 167,953 10 45 9
C 2019 1 NWS Transport Services Limited NWS Service Management LimitedNWSSM 2019 12 12 2 2019 6 (i) (ii) (iii) Delta Pearl LimitedDelta Pearl 3,485,000,000Dietmar Limited New World First Holdings Limited 959,000,000New World First Bus Services Limited (i) (ii)delta Pearl New World First Ferry Services Limited 280,000,000 Delta Pearl 2019 6 30 20192018 6 30 14 3 20192018 6 30 (a) 5 10
C 2019 (i) 2019 6 30 9 15 22 15 2014 2016 3(a)(ii) 9 (ii) 9 9 9 39 39 (i) (ii) 39 2018 6 30 2018 7 1 3(b) (iii) 2019 7 1 16 19 23 1 8 2018 2015 2017 11
C 2019 16 16 16 16 16 12 16 (b) 3(a)(ii) 9 92014 (a) (i) 2018 7 1 12
C 2019 (ii) (iii) 2018 6 30 9 2018 7 1 7,288 (7,288) 317,276 317,276 309,988 309,988 2018 7 1 39 (b) 2018 7 1 13
C 2019 (c) (c) (i) 2019 6 30 (ii) (d) 14
C 2019 20 40 40 1 10,000 12 20 1 10,000 8 4 6 0 10,000 15 10,000 15 10,000 5 5 7 3 6 7 (e) (f) (g) 15
C 2019 (h) (i) (i) 2018 7 1 (ii) (iii) 16
C 2019 (iv) 2018 7 1 9 17 (v) 2018 6 30 9 17
18 C 2019 (j) (i) (ii) 21 (i) (ii) (iii) (k) (l)
C 2019 (m) (n) (i) (ii) 3(d) 3(r)(iii) (o) (i) (ii) (iii) (iv) 19
C 2019 (p) (q) (r) (i) (ii) (iii) (iv) (v) 20
C 2019 (s) (i) (ii) (iii) (1) (2) (3) (t) (u) 4 (a) (i) 2019 6 30 21 21
C 2019 (ii) 2019 6 30 21 (iii) (iv) 2019 6 30 423,192 423,192 423,192 517 517 517 16,751 16,751 16,751 11,024 11,024 496,252 518,300 487,390 451,484 11,024 496,252 958,760 927,850 2018 6 30 394,781 394,781 394,781 8,300 8,300 8,300 137 137 137 5,337 5,337 358,379 369,053 346,310 408,555 5,337 358,379 772,271 749,528 22
C 2019 (b) 20192018 6 30 2019 2018 487,390 346,310 (171,957) (167,953) 315,433 178,357 4,226,556 3,940,162 7.46% 4.53% (c) (i) (ii) (iii) 23
C 2019 20192018 6 30 2019 6 30 317,697 317,697 3,234 3,234 19 19 3,253 317,697 320,950 5,290 5,290 11,461 11,461 16,751 16,751 2018 6 30 16,447 16,447 20192018 6 30 15 5 24
C 2019 (a) 3(h) 13 2019 6 30 2019 6 30 (b) (c) 20(a) (d) 20(a) 20(a)(ii) (e) (f) 22 25
C 2019 (g) 6 2019 2018 3,557,995 3,279,958 172,884 162,854 31,704 33,109 21,239 25,922 21,870 18,630 22,748 19,491 3,828,440 3,539,964 68,118 73,485 5,410 3,042 1,178 640 944 172 71 2,135 24,448 21,227 100,270 100,600 (i) (ii) (iii) 57,605,000 2018 56,734,000 6,466,000 20186,468,000 59,240,000 2018 59,240,000 SCR 4,047,000 201810,283,000 SCR 26
C 2019 7 2019 2018 2,357 2,340 (73) (169) 12 372,386 349,265 11 2,078,034 1,778,974 593,940 467,119 195,065 181,420 11,536 10,886 20(a) 39,379 50,087 398 357 4,503 13,888,000 201871,752,000 8 2019 2018 10,294 5,678 1,080 2,313 378 192 11,752 8,183 27
C 2019 9 2019 2018 6,524 26,380 (2,999) (20) 3,525 26,360 22 (9,438) 2,051 2,968 (6,470) 2,051 (2,945) 28,411 16.5% 201816.5% 2019 2018 5,982 191,260 987 31,557 (3,806) (3,177) 120 154 (182) (125) (31) (20) (33) 22 (2,945) 28,411 10 2019 2018 2018 0.32 160,000 28
C 2019 11 2019 2018 1,967,876 1,684,541 87,102 77,672 18,634 14,402 20(a) 4,422 2,359 2,078,034 1,778,974 2,078,034,000 2018 1,778,974,000 1,932,569,000 2018 1,646,133,000 29
C 2019 12 2018 7 1 896,770 127,373 4,790,726 235,491 338,188 80,204 29,924 85,117 6,583,793 975 299,803 4,771 8,190 4,523 543 160,635 479,440 (628) (279,486) (4,247) (2,057) (800) (97) (287,315) 452 102,210 58 1,094 (103,814) (16,500) (7,855) (1,275) (236,015) (22,200) (12,966) (650) (297,461) 2019 6 30 879,642 120,945 4,911,978 322,179 72,055 29,720 141,938 6,478,457 2018 7 1 482,015 86,075 1,605,838 229,621 271,850 69,126 27,293 2,771,818 27,047 2,649 318,990 4,562 13,657 4,789 692 372,386 (628) (271,465) (4,223) (1,965) (800) (97) (279,178) (16,053) (7,810) (976) (229,960) (17,912) (10,513) (458) (283,682) 2019 6 30 492,381 80,914 1,652,387 265,630 62,602 27,430 2,581,344 2019 6 30 387,261 40,031 3,259,591 56,549 9,453 2,290 141,938 3,897,113 30
C 2019 2017 7 1 896,856 126,421 4,779,502 240,402 331,717 87,827 29,788 147,206 6,639,719 952 235,948 3,190 12,015 2,733 471 110,166 365,475 (86) (396,979) (8,101) (5,544) (10,356) (335) (421,401) 172,255 (172,255) 2018 6 30 896,770 127,373 4,790,726 235,491 338,188 80,204 29,924 85,117 6,583,793 2017 7 1 455,054 81,800 1,707,547 231,414 264,622 74,811 26,928 2,842,176 27,047 4,275 293,572 6,308 12,715 4,648 700 349,265 (86) (395,281) (8,101) (5,487) (10,333) (335) (419,623) 2018 6 30 482,015 86,075 1,605,838 229,621 271,850 69,126 27,293 2,771,818 2018 6 30 414,755 41,298 3,184,888 5,870 66,338 11,078 2,631 85,117 3,811,975 31
C 2019 13 2019 2018 946,695 947,052 (357) 946,695 946,695 2019 2018 946,695 946,695 2% 9.0% 2019 6 30 32
C 2019 14 20192018 6 30 37,500,000 376,295,750 800,000 8,000,000 2019 2018 100% 100% 100% 100% # Delta Pearl Limited BVI 1 1 100% BVI 200,000,000 1 100% 100% BVI 1 1 # BVI 46,426,693 1 500,000 500,000 100% 100% 100% # 2018 6 30 15 2019 2018 317,697 7,288 (i) 2019 2018 2,489 6 21,870 18,630 33
C 2019 16 2019 2018 61,541 94,835 645 694 62,186 95,529 (846) (1,165) 61,340 94,364 17 2019 2018 205,353 262,600 88,641 96,192 293,994 358,792 (1,273) 293,994 357,519 2019 2018 179 15 23 129 10,158 202 10,302 34
C 2019 18 2019 2018 520 502 517 137 19 2019 2018 102,145 8,300 20 2019 2018 423,192 394,781 (a) 176,597 197,385 599,789 592,166 (9,364) (18,009) 590,425 574,157 (a) (i) (ii) 2018 7 1 177,597 19,788 197,385 39,379 4,422 43,801 7,475 7,475 (52,150) (5,137) (57,287) (14,777) (14,777) 2019 6 30 164,826 11,771 176,597 35
C 2019 (i) (ii) 2017 7 1 162,309 34,949 197,258 50,087 2,359 52,446 (14,719) (14,719) (34,799) (2,801) (37,600) 2018 6 30 177,597 19,788 197,385 (i) (ii) 2019 2018 1.60% 2.00% 5.00% 4.00% 5.25% 5.00% +0.25% 0.25% (100) 102 114 (116) (732) 797 (b) 2019 2018 34,399 13,830 3,374 2,974 1,054 104 1,652 533 40,479 17,441 36
C 2019 21 (a) 2019 2018 2019 2018 2019 2018 3,625 66,971 39,930 70,596 39,930 19 3,234 16,447 3,253 16,447 3,625 3,625 (3,606) (3,606) 3,234 16,447 3,234 16,447 19 3,234 16,447 3,253 16,447 (b) 2019 2018 2019 2018 2019 2018 224,460 181,238 405,698 (11,461) (5,290) (16,751) 212,999 212,999 (224,460) (224,460) (5,290) (5,290) (11,461) (5,290) (16,751) 37
C 2019 22 2019 2018 433,602 431,551 9 (6,470) 2,051 (461) 426,671 433,602 16.5% 201816.5% 2018 7 1 522,081 (87,275) (1,204) 433,602 9 44,387 (51,368) 511 (6,470) (1,279) 463 355 (461) 2019 6 30 565,189 (138,180) (338) 426,671 2017 7 1 507,061 (74,288) (1,222) 431,551 9 15,020 (12,987) 18 2,051 2018 6 30 522,081 (87,275) (1,204) 433,602 2019 6 30 25,100,000 2018 96,800,000 2019 2018 i (87,275) ii 426,671 520,877 426,671 433,602 38
C 2019 2019 2018 (i) (7,695) (79,580) (87,275) 2019 2018 (ii) 39,069 30,278 387,602 490,599 426,671 520,877 23 1 20182019 6 30 1,000,000,000 1,000,000 1 20182019 6 30 500,000,016 500,000 24 2019 2018 487,390 346,310 487,390 346,310 39
C 2019 (i) (ii) (iii) 2019 6 302.25% 2018 1.13% 487,390,000 2022 1 23 2018 346,310,000 2019 6 30 490,000,000 2018 350,000,0002,610,000 20183,690,000 25 (a) 2019 2018 17,734 199,443 372,386 349,265 4,503 (2,135) (10,516) (16,751) 4,047 10,283 (1,178) (640) (21,870) (18,630) 357 365,106 521,192 2,614 (10,470) 25,412 (67,400) 62,342 43,598 (8,300) (2) 362 287 447,536 487,205 (b) 2019 2018 25,733 39,725 142,969 123,233 3,255 4,995 171,957 167,953 40
C 2019 2019 2018 13,796 640 823 7,179 642 302 15,261 8,121 (c) 2017 7 1 263,997 210,000 (130,000) 2,313 2018 6 30 346,310 645,000 (505,000) 1,080 2019 6 30 487,390 26 (a) 2019 6 30 2019 2018 228,054 321,337 41
C 2019 (b) (i) 2019 2018 2019 2018 49,683 50,833 10,993 1,604 3,682 9,363 51,287 54,515 20,356 (ii) 2019 2018 11,034 23,162 8,882 11,034 32,044 27 (a) 2019 2018 5,881 5,881 857 856 (10,302) (9,853) 42
C 2019 (b) 2019 2018 240 240 23,124 21,302 23,364 21,542 43
C 2019 28 2019 2018 1,166 1,577 4,444,335 211,356 4,445,501 212,933 206,000 1,639,990 102,145 491 11 22 59,971 36,300 368,127 1,676,803 4,813,628 1,889,736 500,000 500,000 29 3,727,172 1,380,231 4,227,172 1,880,231 441 299 586,015 9,206 586,456 9,505 586,456 9,505 4,813,628 1,889,736 44
C 2019 29 2018 7 1 710,960 669,271 1,380,231 2,346,941 2,346,941 2019 6 30 710,960 3,016,212 3,727,172 2017 7 1 710,960 708,729 1,419,689 120,542 120,542 (160,000) (160,000) 2018 6 30 710,960 669,271 1,380,231 45
C 2019 2019 6 30 2019 2018 125,000,000 2,254,104,994 2,183,763 1,326,624 15,033 15,000 91,654,678 (4,918,719) (964,909) (880,682) 2,346,993,559 120,542,223 (52,953) 2,346,940,606 120,542,223 2,346,940,606 120,542,223 160,000,000 2019 6 30 91,654,678 2018 4,918,719 46
BTHL BTHL 3,394,690,000 3,080,535,000 90.7% 228,405,0006.7% 224,314,000 COVID-19 343,806,000 18 3,974,607,000 3,687,380,000 92.8% 189,826,000 4.8%407,536,000 1,706,311,000 1,556,931,000 42.2% 108,707,000 57.3%53,368,000 III-1
2,279,373,000 2,130,449,000 57.8% 81,118,000 42.7%269,826,000 3,923,394,000 2,111,958,000 53.8% 119,492,000 (i) 74,874,000 (ii) 21,066,000 (iii) 13,329,000 505,255,000 4,857,555,000 36,705,000 0.961,830,544,000 37.7%2,590,455,000 53.3% 1,627,888,000 1,845,000,000 523,470,000 1,365,496,000 71.9% III-2
BTHL 3,200,000,000 5,001 460,000,000 A46 47 15 COVID-19 A63 64 28 III-3
50% 6.0 III-4
3,137,158,000 18.1%2,878,228,000 91.7%176,109,000 1.9% 275,929,000 8.8% COVID-19 1,018,769,000 847,200,000 1,217,679,000 1,102,956,000 38.3% 88,803,000 50.4% 64,674,000 1,927,696,000 1,775,272,000 61.7% 87,307,000 49.6% 109,863,000 3,413,087,000 7.5%1,814,968,000 53.2% III-5
28,852,000 12,302,000 15,232,000 161,115,000 5,134,348,000 196,412,000 0.7527.2% 16 2,052,370,000 40.0%2,924,655,000 57.0% 523,470,000 3,072,784,000 40.2% 26,538 15,110 13,717 9,017 115 64,497 III-6
16,215 4,391 265 20,871 III-7
5,414 Bravo Transport Holdings Limited 12% COVID-19 III-8
3,828,440,000 8.1%3,557,995,000 92.9%172,884,000 6.2% 140,387,000 56.7% 3.7% 5.5 5,982,000 1,318,271,000 34.4% 1,207,304,000 33.9% 86,563,000 50.1% 77,084,000 2,223,347,000 58.1% 2,086,163,000 58.6% 85,460,000 49.4% 52,457,000 3,688,053,000 14.7%1,932,569,000 52.4% 11,752,000 III-9
171,957,000 5,795,904,000 18,699,000 1.03 1,981,551,000 34.2% 2,739,265,000 47.3% 487,390,000 4,226,556,000 27.1% 55,345 1,520 64 165 82 57,176 5,863 3,889 1,316 11,068 III-10
(i) (ii) (iii) Delta Pearl LimitedDelta Pearl 3,485,000,000 Dietmar Limited 959,000,000 New World First Bus Services Limited (i) (ii) Delta Pearl New World First Ferry Services Limited 280,000,000 Delta Pearl III-11
5,425 1 9.9% 5.6% 7%1 1 12% III-12
4.29 AC IV-1
(1) (2) 487,267 487,267 208,380 208,380 46,027 46,027 15,645 15,645 816,844 105,500 922,344 1,062 1,062 1,223 1,223 2,140 2,140 5,181 5,181 1,583,769 1,689,269 144,336 144,336 440,451 440,451 118,160 (105,500) 12,660 702,947 597,447 53,741 53,741 206,066 206,066 4,430 4,430 1,639 1,639 82,802 82,802 348,678 348,678 IV-2
(1) (2) 354,269 248,769 1,938,038 1,938,038 562,109 562,109 23,564 23,564 585,673 585,673 1,352,365 1,352,365 1 2 15.56% 350,000,000 244,500,000 105,500,000 3 IV-3
Bravo Transport Holdings Limited 4.29 7 7 IV-4
1 4.29(7) 3420 4.29 7 IV-5
a) b) c) 4.29(1) IV-6
Bravo Transport Holdings Limited 7% 139 22 (852) 2529 6878 (852) 2529 6806 info@romagroup.com http://www.romagroup.com Bravo Transport Holdings Limited 7% 1. V-1
2. 3. 3.1 7,320.58 6%12 1 800,000 750,000 700,000 650,000 600,000 550,000 500,000 450,000 400,000 2015 2016 2017 2018 2019 2020 2021 V-2
2 % 10 8 6 4 2 0-2 -4-6 -8-10 2015 2016 2017 2018 2019 2020 2021 3.2 4.3% 0.25% 2.1% 3 V-3
3 % 6 5 4 3 2 1 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4. 1,20090% 5.5%4 67% 16% 13% V-4
4 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 5. 5,000 200 1,700 100 V-5
6. 7. V-6
8. 8.1 8.2 8.3 V-7
8.4 EV/EBITEV/ EBITDA EV/EBIT EV/EBITDA V-8
600561.CH 66.HK 002357.CH 62.HK 600561.CH 0.77 66.HK 4.66 002357.CH 2.41 62.HK 0.97 2.20 V-9
2,732,579,000 8.5 2,732,579 2.20 100% 6,015,724 315,662 (33,859) 100% 6,297,527 (1-15.80%) 100% 5,302,518 7% 7% 7% 371,176 7% 371,000 8.6 Stout Restricted Stock Study 15.80% V-10
9. 10. V-11
11. V-12
12. 13. 7% 371,000,000 25 26 2608 V-13
1 2 XV (a)xv78 (b)352 (c) 1 854,817,600 2,548,203,980 3,403,021,580 86.01% 1. 854,817,600636,427,600 the H and H SettlementExtreme Wise Vand Petro-Chemicals Extreme Wise Vand Petro-Chemicals Vand Petro-Chemicals Extreme Wise 209,773,980Extreme Wise 2,338,430,000 Vand Petro-Chemicals VI-1
3 XV23 10% Julius Baer Family Office & Trust Ltd Julius Baer 2 Vand Petro-Chemicals (BVI) Company Ltd Vand Petro-Chemicals 2 Extreme Wise Investments Limited Extreme Wise 2 2,548,203,980 64.40% 2,338,430,000 59.10% 209,773,980 5.30% 2. Julius Baer the H and H SettlementExtreme Wise Vand Petro- Chemicals Julius Baer Vand Petro- Chemicals Extreme Wise 4 (i) 8.10 VI-2
(ii) (iii) 5 6 (a) (b) BTHL VI-3
7 8 9 (a) (b) VI-4
10 14(https://www.hansenergy.com) (www.hkexnews.hk) (a) (b) AC (c) (d) (e) 6. (f) 8. (g) VI-5