(1) (2) (3)

重要文件 重 要 提 示 閣 下 如 對 本 招 股 章 程 任 何 內 容 有 任 何 疑 問 應 諮 詢 獨 立 專 業 意 見 Hung Fook Tong Group Holdings Limited 鴻福堂集團控股有限公司 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 全球發售 全 球 發 售 項 下 發 售 股 份 數 目 158,000,000 股 股 份 視 乎 超 額 配 股 權 而 定 香 港 發 售 股 份 數 目 15,800,000 股 股 份 可 予 調 整 及 包 括 1,580,000 股 僱 員 預 留 股 份 國 際 發 售 股 份 數 目 142,200,000 股 股 份 可 予 調 整 及 視 乎 超 額 配 股 權 而 定 最 高 發 售 價 每 股 發 售 股 份 1.30 港 元 須 於 申 請 時 以 港 元 繳 足 可 予 退 還 另 加 1% 經 紀 佣 金 0.003% 證 監 會 交 易 徵 費 及 0.005% 聯 交 所 交 易 費 面 值 每 股 0.01 港 元 股 份 代 號 1446 獨家保薦人及獨家全球協調人 高誠證券有限公司 聯席賬簿管理人及聯席牽頭經辦人 高誠證券有限公司 申銀萬國融資 香港 有限公司 副牽頭經辦人 鎧盛證券有限公司 香 港 交 易 及 結 算 所 有 限 公 司 香 港 聯 合 交 易 所 有 限 公 司 及 香 港 中 央 結 算 有 限 公 司 對 本 招 股 章 程 的 內 容 概 不 負 責 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明 並 明 確 表 示 不 會 就 因 本 招 股 章 程 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任 本 招 股 章 程 連 同 本 招 股 章 程 附 錄 六 送 呈 香 港 公 司 註 冊 處 處 長 及 備 查 文 件 內 送 呈 公 司 註 冊 處 處 長 文 件 一 段 所 述 文 件 已 根 據 香 港 法 例 第 32 章 公 司 清 盤 及 雜 項 條 文 條 例 第 342C 條 的 規 定 送 呈 香 港 公 司 註 冊 處 處 長 登 記 證 券 及 期 貨 事 務 監 察 委 員 會 及 香 港 公 司 註 冊 處 處 長 對 本 招 股 章 程 或 上 述 任 何 其 他 文 件 的 內 容 概 不 負 責 發 售 價 預 期 將 由 獨 家 全 球 協 調 人 為 其 本 身 及 代 表 包 銷 商 與 本 公 司 於 定 價 日 議 定 定 價 日 預 期 為 二 零 一 四 年 六 月 二 十 七 日 星 期 五 或 前 後 惟 無 論 如 何 不 遲 於 二 零 一 四 年 七 月 二 日 星 期 三 中 午 十 二 時 正 除 另 有 公 佈 外 發 售 價 將 不 超 過 1.30 港 元 目 前 預 期 將 不 低 於 1.00 港 元 香 港 發 售 股 份 申 請 人 須 於 申 請 時 支 付 最 高 發 售 價 每 股 股 份 1.30 港 元 另 加 1% 經 紀 佣 金 0.003% 證 監 會 交 易 徵 費 及 0.005% 聯 交 所 交 易 費 倘 最 終 發 售 價 低 於 最 高 發 售 價 1.30 港 元 多 繳 款 項 可 予 退 還 獨 家 全 球 協 調 人 為 其 本 身 及 代 表 包 銷 商 可 在 其 認 為 合 適 的 情 況 下 並 在 獲 得 本 公 司 同 意 後 根 據 有 意 投 資 的 機 構 及 其 他 投 資 者 在 累 計 投 標 過 程 中 的 踴 躍 程 度 於 截 止 遞 交 香 港 公 開 發 售 申 請 日 期 上 午 或 之 前 隨 時 將 全 球 發 售 所 提 呈 的 發 售 股 份 數 目 及 或 指 標 發 售 價 範 圍 下 調 至 低 於 本 招 股 章 程 所 述 者 即 每 股 1.00 港 元 至 1.30 港 元 在 此 情 況 下 本 集 團 將 在 作 出 有 關 調 減 決 定 後 盡 快 且 無 論 如 何 不 遲 於 截 止 遞 交 香 港 公 開 發 售 申 請 日 期 上 午 前 在 南 華 早 報 英 文 及 香 港 經 濟 日 報 中 文 以 及 我 們 的 網 站 www.hungfooktong.com 及 聯 交 所 網 站 www.hkexnews.hk 刊 登 有 關 調 減 全 球 發 售 所 提 呈 發 售 股 份 數 目 及 或 指 標 發 售 價 範 圍 的 通 告 倘 獨 家 全 球 協 調 人 為 其 本 身 及 代 表 包 銷 商 與 本 公 司 基 於 任 何 理 由 未 能 就 發 售 價 達 成 共 識 則 全 球 發 售 包 括 香 港 公 開 發 售 不 會 進 行 並 將 告 失 效 進 一 步 詳 情 載 於 本 招 股 章 程 全 球 發 售 結 構 及 如 何 申 請 香 港 發 售 股 份 及 僱 員 預 留 股 份 兩 節 有 意 投 資 者 於 作 出 投 資 決 定 前 務 須 審 慎 考 慮 本 招 股 章 程 所 載 一 切 資 料 包 括 本 招 股 章 程 風 險 因 素 一 節 所 載 風 險 因 素 倘 於 上 市 日 期 上 午 八 時 正 前 發 生 若 干 事 件 則 香 港 包 銷 商 根 據 香 港 包 銷 協 議 認 購 或 促 使 認 購 人 認 購 香 港 發 售 股 份 的 責 任 可 在 獨 家 全 球 協 調 人 代 表 香 港 包 銷 商 發 出 口 頭 或 書 面 通 知 後 即 時 終 止 有 關 事 件 載 於 本 招 股 章 程 包 銷 包 銷 安 排 及 開 支 香 港 公 開 發 售 終 止 理 由 一 節 閣 下 務 必 參 閱 該 節 以 獲 取 進 一 步 詳 情 二零一四年六月二十三日

www.hungfooktong.com www.hkexnews.hk (1) 98 12.................... www.eipo.com.hk (2)............ (3).................................................................... (4).............................................................. (5)..................................... www.hungfooktong.com www.hkexnews.hk.......... www.hungfooktong.com www.hkex.com.hk 11............................. i

24 www.iporesults.com.hk....................................... (1) 6 8.............................................................................................. 1. 2. www.eipo.com.hk 3. 8 10. 4. 6. 5. 6. (a) (b) 7. 1,000,000 50,000 183 17 1712 1716 ii

1,000,000 14. 8. 1.30 iii

................................................................................................................... i iv............................................................ 1............................................................ 12....................................................... 25....................................................... 26......................................................... 27................................... 49........................................... 52......................................................... 56......................................................... 58................................................... 70....................................................... 92............................................................ 106 iv

................................................... 195................................................. 204......................................................... 214............................................................ 216......................................................... 219........................................... 278............................................................ 280..................................................... 291................................ 300.................................. IA-1.................................... IB-1................................ II-1............................................ III-1................... IV-1...................................... V-1..................... VI-1 v

Ipsos 34.4% Superbrands Superbrands 2013 Hong Kong's Choice 2013 2012 2013 (i) (ii) 1

OEM 1 (1) 2

(i) 97 25 (ii) (iii) 33.0% 34.9% 33.1% 3,800,000 12,400,000 10,300,000 0.8% 2.1% 1.6% 1.2% 3.1% 2.4% (i) (ii) 67.1% 65.9% 63.1% 25.7% 23.1% 37.1% 161 3

4

317,129 379,683 395,891 10,096 21,587 25,186 327,225 401,270 421,077 87,347 105,425 111,367 42,689 51,353 85,948 12,926 13,584 16,447 142,962 170,362 213,762 OEM 9,111 7,061 10,210 479,298 578,693 645,049 227,214 288,445 307,809 42,650 60,379 75,656 3,228 2,574 3,634 273,092 351,398 387,099 (%) 57.0 60.7 60.0 12,201 50,933 50,522 9,532 48,115 48,521* 6,991 35,961 34,468* (679) 823 1,505 6,312 36,784 35,973* (%) 1.5 6.2 5.3 * 5,900,000 5

77,447 151,117 127,522 189,369 206,501 308,656 266,816 357,618 436,178 30,645 66,957 102,297 30,645 66,957 102,297 212 1,099 2,704 30,857 68,056 105,001 4,246 3,958 27,350 231,713 285,604 303,827 235,959 289,562 331,177 266,816 357,618 436,178 (1) 22.8% 53.7% 33.7% (2) 2.6% 10.1% 7.9% (3) 0.82 0.72 1.02 (4) 0.79 0.26 (5) 2.24 1.75 1.20 1. 2. 3. 4. 5. 6

8.9 10.4 13.2 400 2.5 3.0 2.8 275 2.8 2.6 2.2 44.9 52.0 55.7 13.37 14.51 14.25 30.33 34.20 34.80 21.73 25.04 27.59 5 30 5 27 5 30 3.02 3.05 3.18 170,062 35.5 180,278 31.2 203,976 31.6 62,383 13.0 74,692 12.9 83,428 12.9 125,079 26.1 147,756 25.5 167,211 25.9 7

10.0% 5.6% 224 82,600,000 7% 76,000,000 98 7,105,389 1,682,481 2,176,862 3,524,356 (495,803) (32,915) (922,955) (3,322,057) (3,081,346) (922,955) (3,322,057) (3,081,346) 8

35,851,450 35,604,734 58,945,744 12,057,593 15,701,948 35,393,105 47,909,043 51,306,682 94,338,849 (63,494,824) (66,816,881) (4,046,627) 69,500,822 42,990,827 111,403,867 48,622,741 55,394,649 111,403,867 118,123,563 98,385,476 47,909,043 51,306,682 94,338,849 (99,346,274) (32,920,793) (20,001,544) (63,494,824) 2,683,941 38,944,200 34,000,000 7,800,000 5,900,000 1,900,000 26,200,000 15,600,000 31 9

1.15 147,700,000 (i) 35.3% 52,200,000 (ii) 22.7% 33,500,000 (iii) 3.7% 5,400,000 (iv) 8.3% 12,300,000 (v) 6.7% 9,900,000 (vi) 13.3% 19,600,000 (vii) 10.0% 14,800,000 278 1.00 1.30 (1) 632,000,000 821,600,000 (2) (3) 0.37 0.44 (1) 632,000,000 (2) 277 632,000,000 (3) 40,000,000 1.001.30 0.310.38 10

Think Expert 62.3% 6.5% 3.6% 2.6% 12,636,000 2% 1.15 (i) 2% 0.3% (ii) 14,400,000 7,000,000 40,000,000 266 11

AP Logistics A.P. Logistics Co., Limited 4,730,000 473,000,000 22 3 12

549 622 32 62.3% Think Expert G. 2. 13

57 1,580,000 1,580,000 1% 51% 70% 30% Gold Work Gold Work Limited HFT BVI Gold Work 51% 49% 14

HFT BVI Hung Fook Tong Group Limited 15

HFT Franchisor Consultancy Hung Fook Tong Franchisor Consultancy Limited HFT BVI 42.75% 23.75% 19% 9.5% 5.0% HFT BVI HFT BVI 16

15,800,000 10% Think Expert 17

142,200,000 S Ipsos Ipsos Hong Kong Limited Ipsos Ipsos Ipsos 30% 18

8 14 70% 19

OEM OEM OEM 1.30 1.00 32 23,700,000 15% POS 20

E. S S Gold Work HFT Franchisor Consultancy 21

571 0.01 E. 5% (3)(A) 95% Gold Work (3)(B) 22

Think Expert 23,700,000 HFT BVI HFT BVI HFT BVI 82,568,490.00 Think Expert Think Expert Investments Limited 23

www.eipo.com.hk % 24

PET ph 25

26

B. 2. 27

105,500,000 1,150,000 28

92 105,500,000 15 32 27 2.1% 3.7% 3.9% 6,300,000 6,500,000 3,200,000 4,000,000 5,000,000 (ii) 29

86.2% 85.0% 80.2% 30

42,300,000 79,100,000 31

62,400,000 74,700,000 83,400,000 19.1% 18.6% 19.8% 32

3,800,000 12,400,000 10,300,000 0.8% 2.1% 1.6% 1.2% 3.1% 2.4% 2.1% 6.3% 4.2% 29.8% 29.4% 33.1% 33

OEM OEM 34

35

36

37

10,300,000 38

15 10,000 52.9% PET 39

40

12 23 800,000 18,000,000 24,000,000 30,000,000 4,000,000 5,000,000 41

42

[2009] 698 698 698 [2011] 24 (i) 12.5% (ii) 10% 698 698 698 698 25 43

44

45

46

E. E. 14,400,000 47

28,600,000 7,800,000 5,900,000 1,900,000 26,200,000 15,600,000 48

49

183 17 1712 1716 Codan Trust Company (Cayman) Limited Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands 50

30 23,700,000 15% 0.78 1.00 51

8 8 3 31 A 100 68 B 398K L 28 33 3 25 H 38 4 21 B 559 3 33 A 52

18 7 53

151 5 151 5 151 5 28 19 99 17 8 11 18 5 77 3 34 100025 Conyers Dill & Pearman (Cayman) Limited Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY1 1111 Cayman Islands 54

1 21 22 518048 22 1 3 6 151 5 99 16 55

Cricket Square, Hutchins Drive P.O. Box 2681, Grand Cayman, KY1-1111 Cayman Islands 98 12 www.hungfooktong.com (HKICPA, FCCA) 98 12 398K L 28 56

99 16 1 Codan Trust Company (Cayman) Limited Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Island 183 17 1712 1716 57

IpsosIpsos Ipsos Ipsos Ipsos Ipsos I. (i) (ii) 70.9% 27.5% 377,200,000 267,900,000 II. Ipsos 488.14 49,760 26.2% 45.6% 488.14 49,760 127.89 22,690 156.69 6,620 165.48 14,980 38.08 5,470 Ipsos 58

(1) Ipsos 313.32 8.7% 9% 2.6% 313.32 18,870 40.73 10,780 272.59 8,090 31.02 1,260 241.57 6,830 15.35 360 83.03 1,380 36.97 1,300 27.26 490 32.59 1,340 6.27 430 40.10 1,530 Ipsos (1) 59

III. 97.3% 97.6% 97.5% 80.2% 17.3% Ipsos 400% 60

IV. DSJ 86.2% 85.0% 80.2% DSJ DSJ 76.5% 21.5% DSJ DSJ 395,900,000 Ipsos DSJ 6.1% 7.4% 0.5% DSJ 61

DSJ 1,600 1,400 1,200 1,000 800 600 400 200 816.7 828.8 864.0 899.4 484.7 483.4 496.3 512.6 345.4 340.9 361.6 380.2 1,387.7 1,290.9 1,189.8 1,113.7 1,024.7 981.0 658.4 600.0 443.3 472.0 507.5 550.5 458.1 458.9 470.0 481.4 494.7 506.9 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Ipsos DSJ DSJ 12 Ipsos 0.4% 4.0% 1.0% 7.0% DSJ DSJ 47.7 109.4 168.9 DSJ 62

DSJ 180 161.2 163.1 163.0 164.5 166.6 168.9 160 140 120 103.0 104.7 104.3 105.8 107.4 109.4 100 80 60 39.8 41.8 41.1 43.1 45.0 47.7 40 20 2008 2009 2010 2011 2012 2013 Ipsos DSJ DSJ 97 9 38 50 IpsosDSJ (i) (ii) 1 Ipsos DSJ DSJ 11.5% 293 7.8% 426 86 Ipsos (i) (ii) DSJ 80.3% (1) 3 63

DSJ 400 350 343 308 300 282 254 250 225 199 200 150 100 94 92 88 86 84 83 50 0 2008 2009 2010 2011 2012 2013 DSJ 450 426 392 400 368 342 350 317 293 300 250 200 150 100 83 84 85 85 86 86 50 0 2008 2009 2010 2011 2012 2013 Ipsos Ipsos DSJ Ipsos 34.4% DSJ DSJ DSJ DSJ (1) DSJ 19.7% 34.4% 6.7% 9.0% 13.6% 16.6% DSJ 100 90 81 80 56 60 40 23 22 20 0 Ipsos Ipsos DSJ DSJ DSJ (1) 64

DSJ (i) (ii) 60% 58,600,000 69,500,000 70,300,000 67.1% 65.9% 63.1% DSJ 961,700,000 1,197,200,000 2,500.0 2,288.6 2,118.8 1,962.6 2,000.0 1,821.9 1,700.6 1,471.8 1,511.8 1,500.0 1,374.3 1,238.2 1,296.8 1,197.2 1,110.4 961.7 1,031.0 1,000.0 672.6 691.4 728.3 780.5 821.1 834.8 500.0 0.0 2008 2009 2010 2011 2012 2013 2014 Ipsos 2015 2016 2017 DSJ 10.0 8.8 8.4 7.9 8.0 6.9 7.3 7.5 6.0 4.0 2.0 0.0 2008 2009 2010 2011 2012 2013 Ipsos DSJ Ipsos DSJ 1,095,000,000 Ipsos DSJ 10.2% 17.8% 11.5% DSJ DSJ 65

DSJ DSJ 10.2% 47.8% 17.8% 11.5% 8.8% 3.9% Ipsos V. DSJ 5% 42,700,000 85,900,000 41.8% 93.0% 85.6% 72.8% Ipsos DSJ 4.0% DSJ Ipsos 60% 11.0% 29.0% 66

Ipsos 20.0% 27.3% 12.1% 120,000 100,000 80,000 60,000 40,000 20,000 0 58,584 69,439 82,559 76,026 98,334 92,093 49,239 62,869 41,778 52,055 33,608 31,441 43,079 35,925 22,187 23,970 26,319 28,278 19,511 10,944 11,460 12,856 14,175 15,749 17,490 19,448 21,664 17,902 8,892 9,226 7,156 8,709 9,157 10,482 11,745 13,261 14,968 16,918 19,157 6,842 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Ipsos 10 8.6 9.4 9.9 8 6 4.5 5.4 6.3 4 2 0 2008 2009 2010 2011 2012 2013 Ipsos 67

DSJ Ipsos DSJ VI. 65,900,000 83.7% Ipsos 4.0 8.8% 6.1 17.4 3.7% 20.9 25 22.2 20.9 20 17.4 15 14.5 12.8 15.1 10 5 4.0 4.0 4.2 4.7 6.5 6.1 0 2008 2009 2010 2011 2012 2013 IPSOS (1) 68

(2) VII. DSJ Ipsos DSJ DSJ VIII. IPSOS Ipsos 358,000 Ipsos NYSE Euronext Paris 85 16,000 Ipsos Ipsos (i) (ii) (iii) DSJ Ipsos Ipsos DSJ Ipsos Ipsos 69

132 V 50 10,000 53 52 10,000 54 54 50,000 61 132X 70

31(1) 35 31(1) 50,000 900 31(1) 35 31(1) 50,000 900 358 8(1) 8(2) (i) (ii) 9(1) 9(2) 71

12(1)(b) 8(1) 8(2) 9(1) 9(2) 11 8(1) 8(2) 9(1) 9(2) (a) 200,000 (b) 400,000 10,000 132W 3 1 1 50,000 4A 4 3 3 50,000 4B 5 1 5 2 50,000 362 72

2 7 500,000 549 1 2 142 73

100,000 60 1 2 6C(3) 6D(3) 500,000 74

(a) (b) (c) 30 75

50,000 200,000 30 76

QS QS QS QS QS QS 77

78

79

80

81

1,000 5,000 1,000 10,000 (a) 5,000 (b) 50,000 82

90 30 10,000 30,000 30% (a) (b) 83

84

85

(i) (ii) (iii) (iv) (v) (IP) 86

0.2% 87

25% 25% 10% 10% 25% 5% (i) 88

(ii) 3% 20% (2) (3) 17% 17% 89

7% 5% 1% 3% 698 (i) 12.5% (ii) 142 142 90

91

62.3% Ipsos 34.4% 92

ISO 9001 2000 Q 24 120 (i) (ii) (iii) (iv) (v) (i) (ii) (iii) (iv) 23 22 23 10,100,000 21,600,000 25,200,000 93

5% (i) (ii) 17 16 17 0.05% 0.11% 0.14% 1,570,000 1 1 4,549,999 1,950,000 94

AC 11 ISO ISO9001 2000 Q 24 95

27 (1) HFT BVI 100% 1 (2) 51% (3) 8,000,000 70% (4) 6,500,000 Gold Work 100% 10,000 51% (5) 100,000 100% 20,100,000 100% 6,000,000 100% 2 100% 13,000,000 100% 2,000,000 100% 300,000 100% 1,000,000 100% 10,000 HFT Franchisor Consultancy 100% 2 100% 100 96

(1) 100% 1,111,110 100% 10,000 100% 1 100% 2 100% 30,000 100% 3 100% 1 100% 1 100% 1 100% 1,000,000 100% 10,000 100% 1,007,001 (1) 1,995,104.04 (2) HFT BVI 50,000 (3) 51% 49% Gold Work (4) 30% (5) 49% (6) 97

7% 1,000,000 66.13% 28.35%94.48% 5.52% 1 348,485 658,516 65,900,000 5.52% 98.09% 1.91% 3,500,000 1.91% HFT BVI 82,600,000 98

4.04(2) 4.04(4) 6,500,000 70% 30% (a) (b) (i) (ii) (a) 99

(b) (c) 12 (d) (e) HFT BVI 100

33.3% 33.3% 33.3% 40.5% 22.5% 18% 9% 5% 5% 30% 40% 30% 30% 40% 30% 51% Gold Work 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% HFT Franchisor Consultancy 49% 101

(1) 10,000 10,0001.0 (2) HFT BVI HFT BVI 50,000 (3) (A) 351 55,555 5% HFT BVI 351 HFT BVI 5% (B) Think Expert 4,042 2,376 1,890 861 479 Gold Work HFT BVI HFT BVI Gold Work (4) 1.00 100 0.01 10,000 1,000,000 0.01 10,000,000 1,000,000,0000.01 Think Expert 40.4% 23.8% 18.9% 8.6% 4.8% 3.5% 102

100% 100% 100% 100% 3.5% Think Expert 40.4% 23.8% 18.9% 8.6% 4.8% 100% HFT BVI 100% 100% 100% 100% 100% Gold Work 100% 100% 100% 51% (1) 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% HFT Franchisor Consultancy 100% 70% (2) (1) 49% (2) 30% 103

4,730,000 473,000,000 104

100% 100% 100% 100% Think Expert Investments Limited 30.3% 17.8% 14.2% 6.5% 3.6% 2.6% 25.0% 100% HFT BVI 100% 100% 100% 100% 100% Gold Work 100% 100% 100% 51% (1) 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% HFT Franchisor Consultancy 100% 70% (2) (1) 49% (2) 30% 105

Ipsos 34.4% Superbrands Superbrands 2013 Hong Kong s Choice 2013 2012 2012 2013 106

(i) (ii) 97 25 (i) (ii) (i) OEM (ii) 107

479,300,000 645,000,000 16.0% 5,900,000 9,500,000 48,500,000 126.0% 65.3% 16 1 65 1 18 1 33.1% OEM OEM 1.6% (1) 108

OEM 1 (1) 109

3,800,000 12,400,000 10,300,000 0.8% 2.1% 1.6% 1.2% 3.1% 2.4% % % % 327,225 68.3 401,270 69.3 421,077 65.3 142,962 29.8 170,362 29.4 213,762 33.1 OEM 9,111 1.9 7,061 1.3 10,210 1.6 479,298 100.0 578,693 100.0 645,049 100.0 Ipsos 34.4% Superbrands Superbrands 2013 Hong Kong s Choice 2013 2012 2012 2013 110

CLUB (i) (ii) (i) 86 89 90 97 50 38 9 (ii) 25 21 18 9 36 111

21 (iii) 39 42,700,000 85,900,000 41.8% 112

ISO22000 2005 (i) 113

(ii) 114

Ipsos 6.1% 7.4% 0.5% 20.0% CLUB (i) CLUB 380,000 POS VIP 115

(ii) (iii) (iv) (i) 25 11 10 400,000 500,000 500,000 10,500,000 5,000,000 5,200,000 25 12 12 14 116

(ii) 97 25 30 35 16 22 26 (iii) (i) (ii) (iii) (iv) 117

(i) (ii) 10 (iii) (iv) (v) (i) 42,700,000 85,900,000 41.8% 59 72.8% 16.6% (i) (ii) 118

5,300,000 14,300,000 13 35 119

(ii) 25 21 18 6,300,000 6,500,000 3,200,000 (1) (2) 41.8% (3) 26 120

10 70% 30% 10 121

10 (iii) 9,600,000 35,600,000 (iv) (v) 122

PET 123

OEM OEM % % % 334,680 69.8 413,094 71.4 457,535 70.9 135,507 28.3 158,538 27.4 177,304 27.5 9,111 1.9 7,061 1.2 10,210 1.6 479,298 100.0 578,693 100.0 645,049 100.0 67 69.8% 71.4% 70.9% % % % 119,111 35.6 153,556 37.2 189,646 41.4 76,454 22.8 106,797 25.9 103,688 22.7 62,578 18.7 67,519 16.3 62,778 13.7 76,537 22.9 85,222 20.6 101,423 22.2 334,680 100.0 413,094 100.0 457,535 100.0 124

125

67 3 30 14 44 9 21 126

19 5 40 40 65 36 127

5 4 25 275 23 58 25 128

7 3 40 18 24 18 129

27 3 7 5 36 3 5 20 30 55 12 13 47 48 168 128 130

65 28.3% 27.4% 27.5% 131

65 8 14 4 500 19 1.5 4 500 6.5 500 OEM OEM OEM 14 OEM OEM OEM OEM OEM OEM 132

OEM 5,500,000 4,000,000 6,400,000 1.2% 0.7% 1.0% (i) (ii) (iii) (i) (ii) % % % 317,129 66.2 379,683 65.6 395,891 61.4 10,096 2.1 21,587 3.7 25,186 3.9 327,225 68.3 401,270 69.3 421,077 65.3 87,347 18.2 105,425 18.2 111,367 17.3 42,689 8.9 51,353 8.9 85,948 13.3 12,926 2.7 13,584 2.3 16,447 2.5 142,962 29.8 170,362 29.4 213,762 33.1 OEM 9,111 1.9 7,061 1.3 10,210 1.6 479,298 100.0 578,693 100.0 645,049 100.0 133

3,800,000 12,400,000 10,300,000 0.8% 2.1% 1.6% 1.2% 3.1% 2.4% 18 % % % 412,983 86.2 492,060 85.0 517,303 80.2 53,389 11.1 73,049 12.6 111,299 17.3 12,926 2.7 13,584 2.4 16,447 2.5 479,298 100.0 578,693 100.0 645,049 100.0 134

(i) (ii) (iii) % % % 161,786 49.5 192,178 47.9 202,103 48.0 158,129 48.3 201,757 50.3 213,554 50.7 7,310 2.2 7,335 1.8 5,420 1.3 327,225 100.0 401,270 100.0 421,077 100.0 97 25 135

* 77 8 85 86 15 101 89 32 121 12 9 21 5 26 31 6 5 11 3 2 5 2 9 11 5 10 15 86 15 101 89 32 121 90 27 117 * (i) (ii) 97 9 38 50 11 85 14 136

25 21 18 6 92 137

502 97 POS 25 22 83 POS 138

25 30 35 16 22 26 800,000 139

18,000,000 24,000,000 30,000,000 13 400,000 500,000 9,000,000 (1) 3,200,000 25 (2) 33.0% 34.9% 33.1% (1) (i) (ii) (iii) (a) (b) (c) (2) (i) (ii) (iii) (a) (b) (c) (d) (e) 140

Ipsos 20 (i) 362 (ii) (iii) 380,000 78,400,000 73,200,000 105,500,000 Ipsos 105,500,000 77,500,000 28,000,000 77,500,000 73,600,000 12 3,900,000 1224 28,000,000 22,900,000 141

5,100,000 3,800,000 12,400,000 10,300,000 0.8% 2.1% 1.6% 1.2% 3.1% 2.4% 2.1% 6.3% 4.2% 25 (i) (ii) (iii) Ipsos (iv) (v) 142

15% 50% 15% 50% (i) (ii) (iii) (iv) CLUB 143

5% 10% http://www.hungfooktong.com/tc/shopping.php * (i) (ii) * 144

% % % 68,001 47.6 81,747 48.0 81,628 38.2 19,346 13.5 23,678 13.9 29,739 13.9 87,347 61.1 105,425 61.9 111,367 52.1 10,972 7.7 11,852 6.9 31,866 14.9 31,717 22.2 39,501 23.2 54,082 25.3 42,689 29.9 51,353 30.1 85,948 40.2 12,926 9.0 13,584 8.0 16,447 7.7 142,962 100.0 170,362 100.0 213,762 100.0 % % % 58,619 86.2 69,520 85.0 70,335 86.2 9,382 13.8 12,227 15.0 11,293 13.8 68,001 100.0 81,747 100.0 81,628 100.0 58,600,000 69,500,000 70,300,000 67.1% 65.9% 63.1% 145

9,400,000 12,200,000 11,300,000 10.7% 11.6% 10.1% 19,300,000 23,700,000 29,700,000 22.1% 22.5% 26.7% 93.0% 85.6% 72.8% % % % 16,988 39.8 20,041 39.0 28,194 32.8 12,009 28.1 12,623 24.6 19,192 22.3 9,179 21.5 8,450 16.4 10,153 11.8 * 1,534 3.6 2,846 5.6 5,064 5.9 39,710 93.0 43,960 85.6 62,603 72.8 2,107 4.9 5,340 10.4 14,290 16.6 * 872 2.1 2,053 4.0 9,055 10.6 42,689 100.0 51,353 100.0 85,948 100.0 * 13 32 146

11,000,000 11,900,000 31,900,000 7.7% 7.0% 14.9% 25.7% 23.1% 37.1% 13 36 48 31,700,000 39,500,000 54,100,000 22.2% 23.2% 25.3% 74.3% 76.9% 62.9% 147

30 105 30 148

30 25 45 149

1 1 1 2 13 10 25 2 20 12 34 2 38 14 54 0 8 3 11 0 20 5 25 0 13 5 18 0 1 1 2 0 2 3 5 0 3 3 6 2 20 12 34 2 38 14 54 2 48 16 66 (1) 150

18 10 151

200,000 300,000 400,000 0.1% 0.2% 0.2% 1. 2. 3. 152

2,900,000 2,900,000 3,400,000 OEM OEM OEM 14 OEM OEM OEM OEM OEM OEM 5,500,000 4,000,0006,400,000 1.2% 0.7% 1.0% 153

17.0% 16.4% 15.7% 6.7% 6.3% 6.1% 5% 30 105 154

23,400,000 22,300,000 25,400,000 4.9% 3.8% 3.9% 155

156

CLUB 380,000 70,000 VIP 157

158

180 3 30 60 27.1% 27.2% 28.5% 10.9% 10.9% 10.8% 5% 159

6,121 3,415 PET (1) 3,500 (2) 1,440 PET 1,181 942 2,473 (1) (2) 160

400 PET PET 36,200,000 52.9% PET 6 PET 400 230 275 1 23 12 3 9 200 32 112 23 12 3 9 200 32 112 23 12 3 9 278 32 170 5 2 360 360 240 352 299 299 275 8,352 4,176 768 3,170 59,800 9,568 30,800 8,352 4,176 768 3,170 59,800 9,568 30,800 8,352 4,176 768 3,170 83,200 9,568 46,800 3 5,091 2,782 539 3,050 50,059 2,787 13,700 6,066 3,182 519 2,710 58,389 3,985 24,900 6,642 3,059 235 2,470 62,078 6,324 36,200 4 61.0% 66.6% 70.2% 96.2% 83.7% 29.1% 44.5% 72.6% 76.2% 67.6% 85.5% 97.6% 41.6% 80.8% 79.5% 73.3% 30.6% 77.9% 74.6% 66.1% 77.4% 161

(1) (2) (3) (4) (5) 200,000 300,000 (6) PET PET PET PET 76,000,000 38,000,000 68,600,000 16,800,000 9,700,000 1,500,000 6,500,000 2,200,000 38,000,000 12,000,000 2,000,000 27,000,000 10,000,000 162

76,000,000 12,000,000 163

108 144 20 30 164

165

95 125 20 85 45 SOP SOP (i) (ii) (iii) (iv) ISO ISO22000 2005 ISO22000 2005 (HACCP) 166

SOP 167

26.9% SOP 168

25 169

POS 170

POS POS POS 171

200,000 700,000 500,000 78 18 172

(i) (ii) (iii) (iv) (v) 173

201 300 174

25 175

176

7 11 2011 177

2010 OK * II. Ipsos 34.4% Ipsos 10.2% * 178

Ipsos Hung Fook Tong 179

1,128 1,239 1,327 833 494 57 66 71 49 39 35 67 71 82 159 158 173 257 278 317 37 40 47 11 13 17 491 574 585 1,128 1,239 1,327 26.1% 25.5% 25.9% 180

181

26 68,700,000 81,400,000 89,700,000 62,400,000 60,900,000 1,500,000 74,700,000 73,500,000 1,200,000 83,400,000 81,700,000 1,700,000 6(2) 342(1)(b) 34(2) 15% 103 97 3,016 3,654 15% 11,093 (i) PET (ii) (iii) (iv) 1,319 10,001,596 7,640,000 46.00 3% 182

(ii) 1,223 38 38 18 20 183

(i) (ii) 138 97 14 (1), (2) 57 (3), (4) 1. 2. 3. 4. 184

122 185

122 429 122 300,000 12 122 (a) (b) 186

30 15 30 10,000 200,000 187

PET 1,500,000 201,550 50,000 200,000 201,550 800,000 50,000200,000 201,550 188

30,870 11,013 40,000 1,608 1,809 189

(i) (a) (b) 190

(a) 191

(b) 10 (ii) (iii) (iv) 192

(v) 10,300,000 193

10,300,000 (i) (ii) 194

Think Expert Think Expert 1 393,846,600 62.3% 2 393,846,600 62.3% 3 393,846,600 62.3% (1) Think Expert (2) (3) HFT BVI (a) 195

(b) 62.3% 42.75% 23.75% 19% 9.5% 5% 14A.33(3) 5 2 700 0.2 1,000,000 196

Think Expert (i) 197

(ii) (iii) (iv) (v) (vi) (vii) (i) (ii) (iii) (iv) 14A.33(3) 198

(v) AP Logistics (vi) (vii) 27 60% 40% AP Logistics 199

5% (i) 479,300,000 578,700,000 645,000,000 7,000,000 36,000,000 34,500,000 95,800,000 58,900,000 (ii) (iii) 200

(a) (b) (c) (a) (b) 201

(c) (i) 10% (ii) 5% (a) (b) (c) 30% (i) Think Expert 202

Think Expert (ii) (iii) (iv) (v) (vi) (vii) (viii) 14 14 203

(3) (1) 60 60 52 (2) 54 (1) 57 65 58 49 52 44 51 55 37 204

(3) (2) 35 37 38 (1) (2) (3) 98 12 60 28 22 HFT BVI HFT Franchisor Consultancy Gold Work 205

60 28 PET 24 HFT BVI HFT Franchisor Consultancy Gold Work 52 (Bucalan State University) (Northeast Louisiana University) (University of Southern Mississippi) 12 HFT BVI 54 28 POS 206

21 HFT BVI HFT Franchisor Consultancy Gold Work 57 23 14 HFT BVI HFT Franchisor Consultancy 65 1004 440 (Louisiana State University and Agricultural and Mechanical College) 1386 938 58 30 (University of British Columbia) (University of Texas at Arlington) 207

592 49 20 Prudential Portfolio Managers (Asia) Limited 488 11 (University of Toronto) 822 TCL 2618 (i) (ii) (iii) 13.51(2) 52 3 Gialetti Gelato and Foods (China) Ltd. (Business Research Centre) 44 22 208

FPD Eurest Catering Services FPD Catering Services Limited Délifrance (HK) Ltd. (University of Leicester) 51 20 Popular Holdings Limited P29 450 345 (University of Western Sydney) (University of Southern Queensland) 55 25 Yaodong Plastic and Metal Product Co. Ltd. Newtech Computer (HK) Ltd. Wincotime Co. Ltd. Shenzhen Shajing Practical Hardware Factory 37 10 (Edinburgh Napier University) International Association of Project and Program Management 34 10 209

(University of Wollongong) 37 16 Myers-Briggs Type Indicator (RMIT University) 38 17 Open Fortune Community Longain Watches Manufacturing Ltd. Ceba Precision Co., Ltd. 3.28 8.17 (a) (b) 159 (c) 50 210

3.22 14 C3 3.26 14 B1 14 A5 14 211

3A.19 3A.23 (i) (ii) (iii) (iv) 2,200,000 2,600,000 5,300,000 3,200,000 3,700,000 5,400,000 4,200,000 4,900,000 5,300,000 8,700,000 212

213

XV2 3 10% 1 4 393,846,000 62.3% Think Expert 4 393,846,000 62.3% 2 4 393,846,000 62.3% CHAN Suk Hing Comita 5 393,846,000 62.3% 4 393,846,000 62.3% 3 4 393,846,000 62.3% KWAN CHAN Lai Lai 6 393,846,000 62.3% 4 393,846,000 62.3% 7 40,811,400 6.5% CHIU Lai Lin 8 40,811,400 6.5% 214

L XV (1) Think Expert 30.3% 191,638,200 Think Expert Think Expert (2) 17.8% 112,622,400 (3) 14.2% 89,586,000 (4) (5) CHAN Suk Hing Comita (6) KWAN CHAN Lai Lai (7) (8) CHIU Lai Lin XV 2 3 10% 215

1,000,000,000 0.01 10,000,000 1,000,000 10,000 473,000,000 4,730,000 158,000,000 1,580,000 632,000,000 6,320,000 1,000,000 10,000 473,000,000 4,730,000 181,700,000 1,817,000 655,700,000 6,557,000 216

4,730,000 473,000,000 E. E. (a) 20% (b) (i) (ii) (iii) (iv) 17 (a) (b) (c) A. 4. 217

10% A. 6. (a) (b) (c) A. 4. (i) (ii) (iii) (iv) (v) 2. (c) 2. (d) 218

Ipsos 34.4% 27 (i) (ii) OEM % % % 327,225 68.3 401,270 69.3 421,077 65.3 142,962 29.8 170,362 29.4 213,762 33.1 * 9,111 1.9 7,061 1.3 10,210 1.6 479,298 100.0 578,693 100.0 645,049 100.0 * OEM OEM 6,200,000 4,200,000 6,800,000 2,900,000 2,900,000 3,400,000 5 219

96.9% 94.6% 94.0% % % % 161,786 49.5 192,178 47.9 202,103 48.0 158,129 48.3 201,757 50.3 213,554 50.7 7,310 2.2 7,335 1.8 5,420 1.3 327,225 100.0 401,270 100.0 421,077 100.0 97 50 38 25 21 1 3 1 6 18 380,000 220

78,400,000 73,200,000 105,500,000 105,500,000 77,500,000 28,000,000 77,500,000 73,600,000 12 3,900,000 12 24 28,000,000 22,900,000 5,100,000 3,800,000 12,400,000 10,300,000 0.8% 2.1% 1.6% 1.2% 3.1% 2.4% 3,800,000 12,400,000 119,500,000 187,100,000 2.1% 6.3% 4.2% 25 OEM 221

OEM OEM 4,300,000 4,200,0003,600,000 % % % 68,001 47.6 81,747 48.0 81,628 38.2 19,346 13.5 23,678 13.9 29,739 13.9 87,347 61.1 105,425 61.9 111,367 52.1 10,972 7.7 11,852 6.9 31,866 14.9 31,717 22.2 39,501 23.2 54,082 25.3 42,689 29.9 51,353 30.1 85,948 40.2 (1) 12,926 9.0 13,584 8.0 16,447 7.7 142,962 100.0 170,362 100.0 213,762 100.0 (1) 222

% % % 58,619 86.2 69,520 85.0 70,335 86.2 9,382 13.8 12,227 15.0 11,293 13.8 68,001 100.0 81,747 100.0 81,628 100.0 41.8% 42,700,000 85,900,000 72.8% 2,100,000 5,300,000 14,300,000 4.9% 10.4% 16.6% 9.0% 8.0% 7.7% 223

27 68.3% 69.3% 65.3% % % % 317,129 96.9 379,683 94.6 395,891 94.0 10,096 3.1 21,587 5.4 25,186 6.0 327,225 100.0 401,270 100.0 421,077 100.0 94.0% 224

48 50 50 50 31 32 34 38 7 7 6 9 86 89 90 97 15 38 44 14 15 13 15 33 35 37 38 39 39 40 44 (1) 72 79 (1) 274,037 301,496 324,333 342,544 (1) 10.0% 5.6% (1) 225

10.0% 5.6% (i) (ii) (iii) (iv) 10.0% 5.6% 7 24 (8) 23 0 (5) 18 0 (0) 18 4 2 (1) 5 5 (4) 6 0 (0) 6 4 0 (0) 4 0 (1) 3 0 (2) 1 15 32 27 25 * * * 8,667 1,430 10,097 10,407 11,180 21,587 6,143 19,044 25,187 (651) (444) (1,095) (3,135) (43) (3,092) (1,311) 2,201 890 (5,205) (3,451) (4,044) (6,300) (6,543) (3,154) * 226

158,100,000 213,600,000 16.2% 380,000 (i) (ii) (iii) 143,000,000 213,800,000 22.3% 3 10 10 45.8% 37.8% 34.9% 5.4% 4.5% 4.2% 227

48,600,000 54,300,000 11.7% 34,900,000 40,700,000 71.8% 75.0% 206,200,000 227,300,000 258,000,000 43.0% 39.3% 40.0% 170,100,000 180,300,000 204,000,000 82.5% 79.3% 79.1% 61,981 36.4 68,012 37.7 78,683 38.6 27,273 16.0 31,094 17.3 38,349 18.8 7,782 4.6 5,121 2.8 3,159 1.5 22,587 13.3 19,693 10.9 20,098 9.9 22,767 13.4 23,516 13.1 27,203 13.3 27,672 16.3 32,842 18.2 36,484 17.9 170,062 100.0 180,278 100.0 203,976 100.0 500 PET 15.0% 16.7% 16.8% 228

500 PET 1.6% 4.8% 500 PET 500 PET 900,000 1,000,000 500 PET 100 10% 5% 10% 15% +15% +10% +5% 5% 10% 15% (25,509) (17,006) (8,503) 8,503 17,006 25,509 (27,042) (18,028) (9,014) 9,014 18,028 27,042 (30,596) (20,398) (10,199) 10,199 20,398 30,596 62,400,000 74,700,000 83,400,000 13.0% 12.9% 12.9% 19.1% 18.6% 19.8% 10% 15% 20% +20% +15% +10% 10% 15% 20% (12,477) (9,357) (6,238) 6,238 9,357 12,477 (14,938) (11,204) (7,469) 7,469 11,204 14,938 (16,685) (12,514) (8,343) 8,343 12,514 16,685 229

1,128 1,239 1,327 125,100,000 147,800,000 167,200,000 26.1% 25.5% 25.9% 5% 8% 10% +10% +8% +5% 5% 8% 10% (12,508) (10,006) (6,254) 6,254 10,006 12,508 (14,776) (11,820) (7,388) 7,388 11,820 14,776 (16,721) (13,377) (8,361) 8,361 13,377 16,721 HFT BVI HFT (BVI) 82,600,000 230

2 4 (a) 231

(b) (c) (d) (e) (f) 232

479,298 578,693 645,049 (206,206) (227,295) (257,950) 273,092 351,398 387,099 568 596 1,143 2,025 (37) (64) (45,134) (48,068) (55,249) (218,350) (252,956) (282,407) 12,201 50,933 50,522 162 3,124 4,303 (2,831) (5,942) (6,304) (2,669) (2,818) (2,001) 9,532 48,115 48,521 (3,220) (11,331) (12,548) 6,312 35,784 35,973 6,991 35,961 34,468* (679) 823 1,505 6,312 36,784 35,973* * 5,900,000 233

479,300,000 578,700,000 645,000,000 16.0% % % % 317,129 66.2 379,683 65.6 395,891 61.4 10,096 2.1 21,587 3.7 25,186 3.9 327,225 68.3 401,270 69.3 421,077 65.3 87,347 18.2 105,425 18.2 111,367 17.3 42,689 8.9 51,353 8.9 85,948 13.3 12,926 2.7 13,584 2.3 16,447 2.5 142,962 29.8 170,362 29.4 213,762 33.1 OEM 9,111 1.9 7,061 1.3 10,210 1.6 479,298 100.0 578,693 100.0 645,049 100.0 (i) (ii) (iii) 68.3% 69.3% 65.3% 327,200,000 421,100,000 94.0% 86 89 90 10.0% 5.6% 317,100,000 379,700,000 395,900,000 (i) (ii) (iii) (iv) 10,100,000 21,600,000 25,200,000 15 32 25 21 1 3 1 6 234

18 6,300,000 6,500,000 3,200,000 143,000,000 170,400,000 213,800,000 20.7% 5.6% 87,300,000 111,400,000 13.0% 42,700,000 85,900,000 41.8% % % % 16,988 39.8 20,041 39.0 28,194 32.8 12,009 28.1 12,623 24.6 19,192 22.3 9,179 21.5 8,450 16.4 10,153 11.8 * 1,534 3.6 2,846 5.6 5,064 5.9 39,710 93.0 43,960 85.6 62,603 72.8 2,107 4.9 5,340 10.4 14,290 16.6 * 872 2.1 2,053 4.0 9,055 10.6 42,689 100.0 51,353 100.0 85,948 100.0 * 13 32 39,700,000 62,600,000 2,100,000 14,300,000 80% 235

3,400,000 19,400,000 % % % 10,972 25.7 11,852 23.1 31,866 37.1 31,717 74.3 39,501 76.9 54,082 62.9 42,689 100.0 51,353 100.0 85,948 100.0 2.7% 2.3% 2.5% 12,900,000 13,600,000 16,400,000 OEM 9,100,000 7,100,000 10,200,000 % % % 119,111 24.9 153,556 26.5 189,646 29.4 76,454 15.9 106,797 18.5 103,688 16.1 62,578 13.0 67,519 11.7 62,778 9.7 76,537 16.0 85,222 14.7 101,423 15.7 334,680 69.8 413,094 71.4 457,535 70.9 135,507 28.3 158,538 27.4 177,304 27.5 9,111 1.9 7,061 1.2 10,210 1.6 479,298 100.0 578,693 100.0 645,049 100.0 236

8.9 10.4 16.9 13.2 26.9 400 2.5 3.0 20.0 2.8 (6.7) 275 2.8 2.6 (7.1) 2.2 (15.4) 44.9 52.0 15.8 55.7 7.1 16.9% 26.9% Ipsos 26.9% 11,700,000 40,000,000 20% 6.7% Ipsos 0.5% 13.37 14.51 14.25 30.33 34.20 34.80 21.73 25.04 27.59 5 30 5 27 5 30 3.02 3.05 3.18 237

28.9% 8.5% 16.9% 23.5% 26.9% 1.8% 39.7% 12.8% 20.0% 2.9% 7.9% 15.2% 7.1% 7.0% 10.2% 15.4% 17.0% 15.8% 1.0% 11.8% 7.1% 4.3% 238

170,062 35.5 180,278 31.2 203,976 31.6 16,201 3.4 18,693 3.2 24,124 3.7 19,943 4.1 28,324 4.9 29,850 4.6 206,206 43.0 227,295 39.3 257,950 40.0 35.5% 31.1% (i) (ii) 31.6% 31.1% 43.0% 39.3% 40.0% % % % 227,214 69.4 288,445 71.9 307,809 73.1 42,650 29.8 60,379 35.4 75,656 35.4 3,228 35.4 2,574 36.5 3,634 35.7 273,092 57.0 351,398 60.7 387,099 60.0 239

% % % 85,386 71.7 108,293 70.5 131,779 69.5 51,212 67.0 75,652 70.8 74,990 72.3 50,035 80.0 55,523 82.2 50,314 80.1 44,092 57.6 52,454 61.5 67,622 66.7 230,725 68.9 291,922 70.7 324,705 71.0 39,139 28.9 56,902 35.9 58,760 33.1 3,228 35.4 2,574 36.5 3,634 35.6 273,092 57.0 351,398 60.7 387,099 60.0 71.7% 70.5% 68.9% 70.7% 69.4% 71.9% 70.7% 71.0% 61.5% 66.7% 8.5% 71.9% 73.1% % % % 247,891 59.9 315,863 64.2 331,946 64.1 20,579 39.0 29,888 41.0 49,172 44.2 4,622 35.8 5,647 41.6 5,981 36.4 273,092 57.0 351,398 60.7 387,099 60.0 240

OEM 76.7% 77.1% 76.5% 80.9% 70.4% 77.3% 44.2% 28.9% 35.9% (i) 4.4 (ii) 29.8% 35.4% 33.1% 16,000,000 40,000,000 35.4% OEM 35.4% 36.5% 57.0% 60.7% 60.0% 241

251 238 253 197 189 430 120 169 460 568 596 1,143 2,025 (37) (64) 2,025,000 160,000 23,435 4.9 22,250 3.8 25,405 3.9 13,861 2.9 15,999 2.8 20,566 3.2 1,859 0.4 3,326 0.6 4,203 0.7 5,979 1.2 6,493 1.1 5,075 0.8 45,134 9.4 48,068 8.3 55,249 8.6 45,100,000 48,100,000 55,200,000 9.4% 8.3% 8.6% 242

107,386 22.4% 126,483 21.9% 139,719 21.7% 63,530 13.3% 74,649 12.9% 83,041 12.9% 13,319 2.8% 14,617 2.5% 14,174 2.2% 661 0.1% 1,065 0.2% 1,398 0.2% (1) 816 0.2% 716 0.1% 1,775 0.3% 1,878 0.4% 1,851 0.3% 1,857 0.3% 2,458 0.5% 4,391 0.8% 4,477 0.7% 127 0.0% 477 0.1% (167) 0.0% 970 0.2% (4) 0.0% 298 0.0% (2) 8,959 1.9% 10,799 1.9% 10,722 1.7% 2,869 0.6% 2,331 0.4% 3,082 0.5% (3) 0.0% 0.0% 5,889 0.9% (4) 15,377 3.2% 15,581 2.7% 16,142 2.5% 218,350 45.6% 252,956 43.7% 282,407 43.8% (1) (2) (3) (4) 218,400,000 253,000,000 282,400,000 45.6% 43.7% 43.8% 2,600,000 3,900,000 243

16.5% 25% 645,000,000 578,700,000 66,300,000 11.5% 19,800,000 43,400,000 51,400,000 34,600,00067.1% 85,900,000 19,400,000 15,200,000 (i) (ii) (iii) 258,000,000 227,300,000 30,700,000 13.5% 11.5% 31.1% 31.6% 39.3% 40.0% 244

387,100,000 351,400,000 35,700,00010.2%60.0%60.7%0.7 (i) (ii) 40.0% 60.0% 55,200,000 48,100,000 7,100,00014.8% 282,400,000 253,000,000 29,400,00011.6% 21,600,000 10.2% 11.5% 5,900,000 3,900,000 2,600,000 400,000 48,500,000 5,900,000 54,400,000 48,100,000 6,300,000 12.9% 6,500,000 3,200,000 245

12,500,000 11,300,000 1,200,000 10.6% 23.1% 23.5% 5,900,000 40,400,000 36,000,000 12.2% 578,700,000 479,300,000 99,400,000 20.7% 74,000,000 27,400,000 27,500,000 12 5 28,100,000 8,600,000 15 32 11,500,000 18,100,000 8,700,000 227,300,000 206,200,000 21,100,000 10.2% 43.0% 39.3% 351,400,000 273,100,000 78,300,000 28.7% 57.0% 60.7% 3.7 246

2,200,000 48,100,000 45,100,000 3,000,000 6.7% 253,000,000 218,400,000 34,600,000 15.8% 33,400,000 17.3% 20.7% 2,600,000 48,100,000 9,600,000 38,500,000 20.7% 3.7 78,300,000 37,600,000 6,500,000 6,300,000 1,600,000 11,300,000 3,200,000 8,100,000 23.5% 33.9% 10,100,000 6,300,000 36,800,000 247

27,452 57,275 58,896 (30,108) (111,156) (18,327) 7,857 38,584 792 5,201 (15,297) 41,361 (265) 241 587 32,903 37,839 22,783 37,839 22,783 64,731 27,500,000 57,300,000 58,900,000 18,300,000 15,300,000 10,000,000 10,200,000 16,900,000 248

111,200,000 87,800,000 16,000,000 76,100,000 30,100,000 29,000,000 800,000 88,600,000 84,900,000 38,600,000 99,300,000 54,700,000 7,900,000 26,300,000 8,500,000 7,000,000 15,673 8,494 16,447 10,030 6,309 6,721 3,445 1,613 2,145 29,148 16,416 25,313 82,600,000 154,200,000 249

1 26.6 1 24.3 2 4.1 2 5.4 23.9 11.3 13.8 109.4 (1) 76,000,000 23,000,000 2,100,000 (2) 11,800,000 2,300,000 42,300,000 79,100,000 4,800,000 21,004 22,500 29,375 37,406 49,531 49,245 66,414 60,818 13,773 19,923 31,026 68,066 1,522 14,824 42,212 26 31,773 35,068 43,338 38,783 664 480 1,593 17,184 21,028 31,073 26,646 54,582 43,249 64,738 61,752 189,369 206,501 308,656 295,090 250

29,457 33,138 34,863 31,642 42,782 47,369 47,386 59,483 1,008 1,471 3,730 3,730 78,395 73,222 105,521 112,107 82 101 19,082 19,127 10,422 9,421 9,784 13,482 68,565 116,907 77,127 86,556 93 893 1,019 909 3,975 5,441 9,381 231,713 285,604 303,827 336,527 (42,344) (79,103) 4,829 (41,437) 42,300,000 79,100,000 68,600,000 116,900,000 4,800,000 79,100,000 (i) (ii) 41,400,000 82,600,000 251

40,251 38,199 44,505 203,880 916 887 858 848 5,880 82,949 61,655 20,437 22,699 15,812 21,142 9,963 6,383 4,692 6,184 77,477 151,117 127,522 232,054 21,004 22,500 29,375 37,406 49,531 49,245 66,414 60,818 13,773 19,923 31,026 68,066 1,522 14,824 42,212 26 31,773 35,068 43,338 38,783 664 480 1,593 17,184 21,028 31,073 26,646 54,582 43,249 64,738 61,752 189,369 206,501 308,656 295,090 266,816 357,618 436,178 527,144 10 30,645 66,957 102,297 107,837 30,645 66,957 102,297 107,847 212 1,099 2,704 2,903 30,857 68,056 105,001 110,750 252

4,012 3,773 1,540 1,540 234 185 286 286 23,029 75,448 2,495 2,593 4,246 3,958 27,350 79,867 29,457 33,138 34,863 31,642 42,782 47,369 47,386 59,483 1,008 1,471 3,730 3,730 78,395 73,222 105,521 112,107 82 101 19,082 19,127 10,422 9,421 9,784 13,482 68,565 116,907 77,127 86,556 93 893 1,019 909 3,975 5,441 9,381 231,713 285,604 303,827 336,527 235,959 289,562 331,177 416,394 266,816 357,618 436,178 527,144 86.8% 87.0% 88.3% 253

9,765 7,543 12,291 4,664 4,443 6,510 6,758 11,174 11,067 21,187 23,160 29,868 (183) (660) (493) 21,004 22,500 29,375 90 18,389 21,351 26,876 91 180 1,266 485 2,044 181 365 548 413 338 365 801 251 117 21,004 22,500 29,375 31.6 34.9 36.7 365 30 40 254

32 37 22.3% 13.4% 27,900,000 94.8% 30 105 1,500,000 1,400,000 1,700,000 30 23,408 23,462 31,585 31 90 18,592 18,127 27,042 90 7,531 7,656 7,787 49,531 49,245 66,414 105.6 105.8 98.7 365 66,400,000 66,200,000 99.6% 255

3,778 7,105 1,718 16,659 15,594 14,094 20,437 22,699 15,812 3,262 2,989 6,517 550 550 550 4,259 8,418 14,044 3,192 5,682 4,965 2,573 2,284 4,950 13,773 19,923 31,026 61.2% 56.3% 60.1% 550,000 30 60 30 19,596 21,112 33,564 31 60 5,614 6,631 438 61 90 2,660 2,877 75 90 1,587 2,518 786 29,457 33,138 34,863 256

59.9 50.3 48.1 365 34,900,000 34,300,000 98.3% 14,296 18,365 19,246 4,689 5,069 2,933 1,141 1,048 994 11,063 11,836 11,192 3,688 3,676 3,057 271 290 332 7,634 7,085 9,632 42,782 47,369 47,386 67.9% 71.5% 70.7% 1,128 1,239 1,239 1,327 2,100,000 257

2,500,000 49,438 78,395 73,222 187,061 196,539 245,775 (154,281) (189,346) (203,248) (3,848) (12,411) (10,306) 25 45 78 78,395 73,222 105,521 187,100,000 49,400,000 78,400,000 73,200,000 78,400,000 245,800,000 73,200,000 105,500,000 258

105,500,000 77,500,000 28,000,000 77,500,000 73,600,000 12 3,900,000 12 24 28,000,000 22,900,000 5,100,000 479 772 819 13,196 41,827 224 856 385 1,522 14,824 42,212 5,880 5,880 77,069 61,655 5,880 82,949 61,655 89,400,000 13,200,000 41,800,000 61,700,000 259

5% 8 8 8 AP Logistics 74 93 19,074 82 101 19,082 31,773 35,068 43,338 (10,422) (9,421) (9,784) 260

16,743 20,466 7 27,447 42,807 77,120 24,375 53,634 23,029 24,375 53,634 23,029 68,565 116,907 100,156 5.3% 5.5% 4.1% 68,600,000 116,900,000 100,200,000 68,600,000 116,900,000 1 73,074 79,026 65,661 1 5 96,672 75,488 61,036 169,746 154,514 126,697 261

4,872 1,316 3,441 10,600,000 184,800,000 162,000,000 3,600,000 19,100,000 125,700,000 40,000,000 26,000,000 42,200,000 232,000,000 165,600,000 (i) 61,800,000 (ii) (iii) (iv) 262

(1) 22.8% 53.7% 33.7% (2) 2.6% 10.1% 7.9% (3) 0.82 0.72 1.02 (4) 0.79 0.26 (5) 2.24 1.75 1.20 1. 2. 3. 4. 5. 22.8% 53.7% 7,000,000 36,000,000 2.2 34,500,000 5,900,000 53.7% 33.7% 2.6% 10.1% 7,000,000 36,000,000 34% 7.9% 5,900,000 263

0.82 0.72 1.02 102,200,000 (i) (ii) 18,200,000 0.79 0.26 2.24 1.75 1.20 34,000,000 7,800,000 5,900,000 1,900,000 26,200,000 15,600,000 12 12 264

78,400,000 73,200,000 105,500,000 24,400,000 53,600,000 5,900,000 82,900,000 61,700,000 60,400,000 47,800,000 110,400,000 27 27 265

5% 9,000 170,000 275,000 68,600,000 116,900,000 100,200,000 50 41,000 245,000 262,000 16% 15% 15% 7,000,000 40,000,000 266

13.13 13.19 13.13 13.19 7% 267

HFT BVI 268

7,105,389 1,682,481 2,176,862 37,015 79,074 318,053 (226,570) (576,065) (548,296) (3,391,478) (1,681,293) (1,979,534) 3,524,356 (495,803) (32,915) (4,447,311) (2,826,254) (3,048,431) (922,955) (3,322,057) (3,081,346) (922,955) (3,322,057) (3,081,346) 269

8,128,353 7,954,174 15,361,997 27,723,097 27,650,560 43,583,747 35,851,450 35,604,734 58,945,744 146,000 280,722 103,030 11,911,086 15,052,730 21,730,174 507 368,496 13,559,901 12,057,593 15,701,948 35,393,105 47,909,043 51,306,682 94,338,849 34,848,500 34,848,500 100,700,100 (98,343,324) (101,665,381) (104,746,727) (63,494,824) (66,816,881) (4,046,627) 69,500,822 7,157,494 35,833,333 69,500,822 42,990,827 38,918,935 1,801,056 1,582,540 1,444,722 46,821,685 49,645,442 32,080,945 38,959,265 4,166,667 111,403,867 48,622,741 55,394,649 111,403,867 118,123,563 98,385,476 47,909,043 51,306,682 94,338,849 (99,346,274) (32,920,793) (20,001,544) (63,494,824) 2,683,941 38,944,200 270

1,000,000 1,682,481 2,176,862 6,105,389 7,105,389 1,682,481 2,176,862 1,000,000 700,000 1,100,000 1,100,000 500,000 400,000 500,000 2,700,000 3,000,000 900,000 3,300,000 3,100,000 271

7,600,000 7,310,000 PET 330,000 16,500,000 4,401,192 6,867,692 10,939,122 984,934 326,216 367,476 A.P. Logistics Co., Ltd 6,524,960 7,858,822 10,423,576 11,911,086 15,052,730 21,730,174 34,400,000 272

(1,444,722) (1,449,272) (1,436,673) (38,430,868) (41,772,980) (1,444,722) (39,880,140) (43,209,653) (6,941,545) (6,435,789) (1,444,722) (46,821,685) (49,645,442) (69,500,822) (7,157,494) 73,400,000 32,100,000 32,100,000 114,900,000 55,400,000 273

127,170 38,832,095 4,166,667 35,833,333 38,959,265 40,000,000 39,000,000 34,400,000 40,000,000 65,900,000 34,800,000 100,700,000 274

(4,107,859) (4,144,873) (1,761,116) (4,107,859) (4,144,873) (1,761,116) (7,640,060) (676,542) (15,709,306) 37,015 79,074 318,053 3,975,352 (1,459,163) (4,500,582) 4,012,367 (2,056,631) (27,531,895) 40,000,000 (38,832,095) 80,139,919 3,342,112 (11,715) (34,610,161) (857,696) (11,715) 6,696,663 42,484,416 (107,207) 495,159 13,191,405 (19,456) (126,663) 368,496 (126,663) 368,496 13,559,901 275

80,100,000 73,400,000 6,700,000 40,000,000 858 (858) 15,362 26,335 41,697 19,352 (204) 60,845 93,355 154,200 276

1 2 3 1.00 102,297 130,582 232,879 0.37 1.30 102,297 176,560 278,857 0.44 (1) 102,297,000 (2) 1.00 1.30 (3) 632,000,000 (4) 40,000,000 1.00 1.30 0.31 0.38 277

1.15 147,700,000 (i) 52,200,000 35.3% 6,400,000 24,000,000 12,800,000 8 30 16 4,000,000 5,000,000 19 1.15 (ii) 33,500,000 22.7% (iii) 5,400,000 3.7% POS 278

(iv) 12,300,000 8.3% (v) 9,900,000 6.7% (vi) 19,600,000 13.3% 40,000,000 5.25 (vii) 14,800,000 10.0% 1.30 23,000,000 1.00 23,000,000 1.15 (i) (v) 1.15 (i) (vi) 19,600,000 1.00 25,400,000 1.30 279

(a) (i) 280

(ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) 281

(xi) (xii) (xiii) (xiv) (xv) (xvi) (xvii) (xviii) (1) 282

(2) (3) (4) (b) (i) (ii) (iii) (iv) (v) (vi) 283

(vii) (viii) G. 7. (ix) (ix) 10.08 10.07 (a) 10.07(2) (b) 284

10.07(2) (3) (a) 155 (b) 2.07C (a) (b) 285

(c) (a) (b) (d) (a) (b) (c) (a) (b) (c) (a) (b) (c) (a) (i) (ii) (iii) (i) (ii) 286

(iv) (i) (ii) (iii) (i) (ii) (iii) (b) (a)(i) (ii) (iii) (c) (a)(i) (ii) (iii) (a) (b) (c) (a) (b) (d) (a) (b) (c) (a) (b) (c) 287

30 23,700,000 15% 3.0% 1.15 1.00 1.30 34,000,000 288

3A.07 (a) 289

(b) 290

(i) 15,800,000 1,580,000 (ii) S 142,200,000 S 291

(i) (ii) (iii) (iv) 30 www.hungfooktong.com www.hkexnews.hk 155 (i) (ii) 292

15,800,000 10% (i) (ii) 2.5% 15,800,000 1,580,000 10% 1% 5,000,0001.0% 0.003% 0.005% 5,000,000 1.0% 0.003% 0.005% 7,110,000 293

(i)15 50 (ii)50 100 (iii)100 47,400,000 (i) 63,200,000 (ii) 79,000,000 (iii) 30% 40% 50% 1.30 1.0% 0.003% 0.005% 1.30 1.0% 0.003% 0.005% 294

1,580,000 10% 0.25% 1,580,000 1,580,000 20 906 1,580,000 142,200,000 90% 22.5% S 295

30 23,700,000 15% 3.6% 1.30 1.00 296

www.hkexnews.hk www.hungfooktong.com 11. 30 30 297

23,700,000 15% (i) (ii) (iii) (i) (ii) (iv) (v) (vi) (ii) (iii) (iv) (v) 30 23,700,000 298

Think Expert Think Expert (a) (b) Think Expert 23,700,000 (c) Think Expert (i) (ii) (iii) Think Expert Think Expert (d) (e) Think Expert 10.07(3) 10.07(1)(a) Think Expert 2,000 299

1. (www.eipo.com.hk) 2. 18 S (i) (ii) 300

3. www.eipo.com.hk (i) 151 5 28 19 99 17 8 11 301

(ii) 99 95 1 1015 1018 2 2032 2034 391 427 429 1063 A 574 576 22 24 54 2 1 5 21 27 47 48 23 2 205 206 199 2 98 12 www.hungfooktong.com www.hkexnews.hk 302

10. 98 12 4. (i) (ii) (iii) (iv) (v) 303

(vi) (vii) (viii) (ix) (x) (xi) (xii) (i) (ii) S S 902 (h)(3) (xiii) (xiv) (xv) (xvi) 304

(xvii) (xviii) (xix) (i) (ii) 5. 2. www.eipo.com.hk www.eipo.com.hk 24 10. 305

40 40 342E www.eipo.com.hk 2 6. 2979 7888 https://ip.ccass.com 199 2 306

(i) (ii) 307

40 308

2,000 2,000 (1) (1) (1) (1) (1) 309

24 10. 40 40 342E 7. (i) (ii) 310

8. 9. 311

2,000 2,000 www.eipo.com.hk 10. 11. www.hungfooktong.com www.hkexnews.hk www.hungfooktong.com www.hkexnews.hk 24 www.iporesults.com.hk 312

2862 8669 12. (i) 40 342E 313

(ii) (iii) (iv) 7,110,000 1,580,000 13. 1.30 314

14. (i) (ii) 315

(i) 1,000,000 50,000 183 17 1712 1716 1,000,000 (ii) 1,000,000 1,000,000 11. 316

(iii) 1,000,000 183 17 1712 1716 1,000,000 (iv) 317

15. 318

3.340 I III 22 II 1.2 II 1.2 II 1.2 22 +852 2289 8888 +852 2810 9888 www.pwchk.com IA-1

II1.3 II 1.3 3.340 II 1.3 IA-2

I. 5,6 479,298 578,693 645,049 7 (206,206) (227,295) (257,950) 273,092 351,398 387,099 6 568 596 1,143 6 2,025 (37) (64) 7 (45,134) (48,068) (55,249) 7 (218,350) (252,956) (282,407) 12,201 50,933 50,522 9 162 3,124 4,303 9 (2,831) (5,942) (6,304) 9 (2,669) (2,818) (2,001) 9,532 48,115 48,521 10 (3,220) (11,331) (12,548) 6,312 36,784 35,973 6,991 35,961 34,468 (679) 823 1,505 6,312 36,784 35,973 11 IA-3

(238) 415 972 (238) 415 972 6,074 37,199 36,945 6,718 36,312 35,340 (644) 887 1,605 6,074 37,199 36,945 12 7,000 IA-4

13 40,251 38,199 44,505 14 916 887 858 27 5,880 82,949 61,655 18 20,437 22,699 15,812 21 9,963 6,383 4,692 77,447 151,117 127,522 15 21,004 22,500 29,375 17 49,531 49,245 66,414 18 13,773 19,923 31,026 27 1,522 14,824 42,212 28 31,773 35,068 43,338 664 480 19 17,184 21,028 31,073 19 54,582 43,249 64,738 189,369 206,501 308,656 266,816 357,618 436,178 IA-5

20 30,645 66,957 102,297 30,645 66,957 102,297 212 1,099 2,704 30,857 68,056 105,001 24 4,012 3,773 1,540 21 234 185 286 26 23,029 2,495 4,246 3,958 27,350 22 29,457 33,138 34,863 23 42,782 47,369 47,386 24 1,008 1,471 3,730 25 78,395 73,222 105,521 27 82 101 19,082 28 10,422 9,421 9,784 26 68,565 116,907 77,127 93 893 909 3,975 5,441 231,713 285,604 303,827 235,959 289,562 331,177 266,816 357,618 436,178 (42,344) (79,103) 4,829 35,103 72,014 132,351 IA-6

8,123 2,293 20,511 30,927 856 31,783 6,991 6,991 (679) 6,312 (273) (273) 35 (238) (273) 6,991 6,718 (644) 6,074 (7,000) (7,000) (7,000) (7,000) (7,000) (7,000) 8,123 2,020 20,502 30,645 212 30,857 8,123 2,020 20,502 30,645 212 30,857 35,961 35,961 823 36,784 351 351 64 415 351 35,961 36,312 887 37,199 8,123 2,371 56,463 66,957 1,099 68,056 8,123 2,371 56,463 66,957 1,099 68,056 34,468 34,468 1,505 35,973 872 872 100 972 872 34,468 35,340 1,605 36,945 8,123 3,243 90,931 102,297 2,704 105,001 IA-7

29(a) 31,884 62,673 68,002 (4,432) (5,398) (9,106) 27,452 57,275 58,896 (29,001) (15,964) (15,304) 29(b) 2,862 233 21 24 (133) (57) (364) (4,536) (87,783) 16,893 (1,142) (7,900) (5,485) (2,702) (2,145) 162 555 297 (612) (4,296) (10,188) 6,635 363 (30,108) (111,156) (18,327) 26,308 99,333 88,625 (91) (93) 3,388 (8,529) (54,714) (84,917) (7,000) (2,831) (5,942) (6,304) 7,857 38,584 792 5,201 (15,297) 41,361 (265) 241 587 32,903 37,839 22,783 19 37,839 22,783 64,731 IA-8

II 1 1.1 22 Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands 1.2 (i) (ii) (iii) Hung Fook Tong Group Limited HFT (BVI) HFT (BVI) 4,042 2,376 1,890 861 479 351 HFT (BVI) Hung Fook Tong Group Limited 1 (b) 111,111 100% 100% 100% (a) IA-9

Hung Fook Tong Franchisor Consultancy Ltd. Gold Work Limited 10,000 100% 100% 100% (a) 300,000 100% 100% 100% (a) 1 100% 100% 100% (a) 6,000,000 100% 100% 100% (a) 30,000 100% 100% 100% (a) 2 100% 100% 100% (a) 2 100% 100% 100% (a) 100 100% 100% 100% (a) 10,000 100% 100% 100% (a) 2 100% 100% 100% (a) 1 100% 100% 100% (a) 1 100% 100% 100% (a) 20,100,000 100% 100% 100% (a), (c) 2,000,000 100% 100% 100% (a), (c) 3 100% 100% 100% (a) 10,000 100% 100% 100% (a) IA-10

100,000 51% 51% 51% (a), (d) 1,995,104 51% 51% (a), (c) 10,000 100% 100% 100% (a) 10,703,916 100% 100% 100% (a), (c), (e) 1,000,000 100% 100% 100% (a), (c) 1,000,000 100% (b), (c) (a) Hung Fook Tong Franchisor Consultancy Ltd. IA-11

Gold Work Limited (b) (c) (d) (e) IA-12

1.3 HFT (BVI) HFT (BVI) 3.340 2 2.1 4 42,344,000 79,103,000 4,829,000 78,395,000 73,222,000 105,521,000 24,375,000 53,634,000 5,880,000 82,949,000 61,655,000 26 60,426,000 47,753,000 110,350,000 IA-13

9 10 12 27 14 19 32 36 39 21 2.2 (a) IA-14

(b) 2.3 2.4 (a) (b) (c) 2.5 IA-15

50 3 7 5 5 10 5 2 2.7 2.6 50 56 2.7 14 2.7 2.8 2.12 2.13 2.9 IA-16

2.10 2.11 2.12 2.13 2.14 2.15 IA-17

2.16 2.17 2.18 (a) (b) IA-18

(c) 2.19 (a) (b) (c) 2.20 2.21 2.5 IA-19

2.22 (a) (b) (c) (d) (e) (f) 2.23 2.24 3 3.1 (a) (i) IA-20

5% 9,000 170,000 275,000 (ii) 26 50 41,000 245,000 262,000 (b) 95% 97% 98% 16% 15% 15% (c) IA-21

29,457 29,457 41,370 41,370 68,565 68,565 10,422 10,422 82 82 93 93 149,989 149,989 33,138 33,138 46,031 46,031 116,907 116,907 9,421 9,421 101 101 205,598 205,598 34,863 34,863 46,060 46,060 77,448 7,675 15,441 100,564 9,784 9,784 19,082 19,082 1,020 1,021 1,618 3,659 188,257 8,696 17,059 214,012 44,190 7,788 16,587 68,565 93 93 44,283 7,788 16,587 68,658 63,272 24,099 29,536 116,907 72,386 14,532 13,646 100,564 2,621 478 560 3,659 75,007 15,010 14,206 104,223 IA-22

3.2 60% 40,000,000 26 68,565 116,907 100,156 93 3,388 82 101 19,082 19 (71,766) (64,277) (95,811) (3,026) 52,731 26,815 30,857 68,056 105,001 27,831 120,787 131,816 43.7% 20.3% 3.3 4 (a) (b) IA-23

(c) (d) (e) (f) 5 (i) (ii) (iii) IA-24

324,935 10,097 155,266 490,298 (4,865) (6,135) (11,000) 320,070 10,097 149,131 479,298 50,460 (6,300) 2,997 47,157 (34,956) (2,669) 9,532 (3,220) 6,312 11,642 4,546 12,960 29,148 11,219 626 5,519 17,364 3 4 155 162 385,590 21,587 196,737 603,914 (3,068) (22,153) (25,221) 382,522 21,587 174,584 578,693 81,068 (6,543) 13,805 88,330 (37,397) (2,818) 48,115 (11,331) 36,784 6,008 3,749 6,659 16,416 10,515 3,915 3,971 18,401 2,867 257 3,124 IA-25

406,532 25,187 240,156 671,875 (7,095) (19,731) (26,826) 399,437 25,187 220,425 645,049 75,237 (3,154) 21,348 93,431 (42,909) (2,001) 48,521 (12,548) 35,973 8,805 2,033 14,475 25,313 10,822 1,133 5,434 17,389 3,970 9 324 4,303 87,250 16,815 118,727 (5,114) 217,678 7,402 31,773 9,963 266,816 76,502 9,467 137,325 (5,564) 217,730 97,773 35,068 664 6,383 357,618 111,847 13,521 164,392 (5,959) 283,801 103,867 43,338 480 4,692 436,178 IA-26

412,983 492,060 517,303 53,389 73,049 111,299 12,926 13,584 16,447 479,298 578,693 645,049 132,398 128,657 167,475 85,280 89,073 116,326 217,678 217,730 283,801 10% 6 475,415 566,147 634,684 35 135 59 3,848 12,411 10,306 479,298 578,693 645,049 251 238 253 197 189 430 120 169 460 568 596 1,143 IA-27

2,025 (37) (64) 2,025 (37) (64) 7 661 1,065 1,398 170,062 180,278 203,976 60,902 73,501 81,703 1,481 1,191 1,725 6,267 6,753 6,237 23,435 22,250 25,405 13 17,335 16,788 17,360 13 1,584 14 29 29 29 19,265 22,552 24,682 8 125,079 147,756 167,211 15 127 477 (167) 17 970 (4) 298 816 716 1,775 5,889 2,262 2,265 2,347 18,937 25,730 28,633 22,062 25,388 27,105 469,690 528,319 595,606 8 112,656 133,758 153,338 7,114 8,461 7,389 5,309 5,537 6,484 125,079 147,756 167,211 IA-28

(a) 354 12 366 310 12 322 708 12 720 305 12 317 1,677 48 1,725 433 12 445 400 14 414 400 14 414 810 14 824 387 14 401 1,997 56 2,053 558 14 572 1,056 15 1,071 1,056 15 1,071 1,155 15 1,170 1,120 15 1,135 4,387 60 4,447 799 15 814 IA-29

(b) 2,441 2,858 946 48 55 15 2,489 2,913 961 1,000,000 4 4 1 9 162 3,124 4,303 (1,718) (2,538) (3,043) (1,096) (3,399) (3,197) (17) (5) (64) (2,831) (5,942) (6,304) (2,669) (2,818) (2,001) 26 10 16.5% 25% IA-30

4,700 6,468 7,868 209 1,150 2,888 (49) 21 (1,689) 3,762 1,792 3,220 11,331 12,548 11 9,532 48,115 48,521 16.5% 1,572 7,939 8,006 (1,118) 733 1,002 (358) (22) (16) 729 673 2,100 2,395 2,057 1,456 (49) 3,220 11,331 12,548 1.3 12 7,000,000 IA-31

13 1,362 39,995 7,651 45,548 528 4,625 99,709 (644) (29,850) (6,642) (30,633) (249) (2,444) (70,462) 718 10,145 1,009 14,915 279 2,181 29,247 718 10,145 1,009 14,915 279 2,181 29,247 10,030 297 15,673 404 2,744 29,148 29(b) (712) (121) (1) (3) (837) 7 (6) (6,872) (418) (8,855) (111) (1,073) (17,335) (5) 33 28 13,177 888 21,765 572 3,849 40,251 49,811 7,947 61,291 932 7,352 127,333 (36,634) (7,059) (39,526) (360) (3,503) (87,082) 13,177 888 21,765 572 3,849 40,251 13,177 888 21,765 572 3,849 40,251 6,309 92 8,494 1,521 16,416 29(b) (235) (6) (29) (270) 7 (7,840) (338) (7,005) (127) (1,478) (16,788) 7 (1,584) (1,584) 7 1 164 2 174 9,834 637 23,389 447 3,892 38,199 55,649 8,031 69,764 935 8,870 143,249 (45,815) (7,394) (46,375) (488) (4,978) (105,050) 9,834 637 23,389 447 3,892 38,199 9,834 637 23,389 447 3,892 38,199 6,721 76 16,447 2,069 25,313 29(b) (58) (24) (1,853) (63) (5) (2,003) 7 (8,469) (245) (7,082) (122) (1,442) (17,360) 29 1 323 3 356 8,057 445 31,224 265 4,514 44,505 60,535 6,897 81,865 838 10,885 161,020 (52,478) (6,452) (50,641) (573) (6,371) (116,515) 8,057 445 31,224 265 4,514 44,505 50 4,046,000 2,200,000 2,924,000 13,289,000 14,588,000 14,145,000 291,000 IA-32

237,000 26 187,000 129,000 4,039,000 1,584,000 14 2,000 2,000 2,000 (1,055) (1,084) (1,113) 945 916 887 945 916 887 (29) (29) (29) 916 887 858 2,000 2,000 2,000 (1,084) (1,113) (1,142) 916 887 858 50 3,800,000 4,600,000 5,740,000 29,000 29,000 29,000 15 9,765 7,543 12,291 4,664 4,443 6,510 6,758 11,174 11,067 21,187 23,160 29,868 (183) (660) (493) 21,004 22,500 29,375 IA-33

56 183 660 7 127 477 (167) 183 660 493 16 17 49,531 49,245 66,414 18 27,170 32,528 38,603 27 7,402 97,773 103,867 28 31,773 35,068 43,338 19 17,184 21,028 31,073 19 54,582 43,249 64,738 22 29,457 33,138 34,863 23 41,370 46,031 46,060 27 82 101 19,082 28 10,422 9,421 9,784 26 68,565 116,907 100,156 93 3,388 17 50,981 50,691 68,158 (1,450) (1,446) (1,744) 49,531 49,245 66,414 30 105 30 23,408 23,462 31,585 31 90 18,592 18,127 27,042 90 7,531 7,656 7,787 49,531 49,245 66,414 IA-34

14,013,000 16,464,000 20,460,000 30 6,497 11,438 11,505 31 90 4,724 4,150 7,509 90 2,792 876 1,446 14,013 16,464 20,460 36,295 38,014 47,675 13,236 11,231 18,739 49,531 49,245 66,414 480 1,450 1,446 7 970 298 7 (4) 1,450 1,446 1,744 18 3,778 7,105 1,718 16,659 15,594 14,094 20,437 22,699 15,812 3,262 2,989 6,517 550 550 550 4,259 8,418 14,044 3,129 5,682 4,965 2,573 2,284 4,950 13,773 19,923 31,026 IA-35

19,297 21,473 24,985 7,873 11,055 13,618 27,170 32,528 38,603 19 (a) 17,184 19,886 22,031 1,142 9,042 54,582 43,249 64,738 71,766 64,277 95,811 (a) (b) 26 56,692 45,789 70,377 78 120 681 14,996 18,368 24,753 71,766 64,277 95,811 (c) 54,582 43,249 64,738 26 (16,743) (20,466) (7) 37,839 22,783 64,731 IA-36

20 (a) 2 (b) 10% 50% 25% 22,000 72,000 333,000 21 12 7,296 4,094 4,629 12 2,667 2,289 63 9,963 6,383 4,692 12 234 185 286 8,270 10 1,689 (230) 9,729 10 (3,762) 231 6,198 10 (1,792) 4,406 IA-37

1,571 6,770 8,341 10 1,741 111 1,852 (230) (230) 3,312 6,651 9,963 10 769 (4,580) (3,811) 231 231 4,081 2,302 6,383 10 534 (2,225) (1,691) 4,615 77 4,692 (71) 10 (163) (234) 10 49 (185) 10 (101) (286) 3,403,000 5,460,000 6,916,000 5,301,000 6,687,000 7,786,000 IA-38

10,115,000 17,428,000 22,527,000 1,486 1,486 1,486 8,629 8,629 8,629 7,313 7,313 5,099 10,115 17,428 22,527 1,178,000 4,405,000 59,000 220,000 22 23,967 26,751 28,456 5,490 6,387 6,407 29,457 33,138 34,863 30 19,596 21,112 33,564 31 60 5,614 6,631 438 61 90 2,660 2,877 75 90 1,587 2,518 786 29,457 33,138 34,863 12,652 10,362 7,629 16,805 22,776 27,234 29,457 33,138 34,863 IA-39

23 14,296 18,365 19,246 4,689 5,069 2,933 1,141 1,048 994 11,063 11,836 11,192 3,688 3,676 3,057 271 290 332 7,634 7,085 9,632 42,782 47,369 47,386 35,977 39,690 36,287 6,805 7,679 11,099 42,782 47,369 47,386 24 4,012 3,773 1,540 1,008 1,471 3,730 5,020 5,244 5,270 4,429 5,020 5,244 724 281 475 (133) (57) (364) (85) 5,020 5,244 5,270 25 78,395 73,222 105,521 IA-40

49,438 78,395 73,222 a 187,061 196,539 245,775 b (154,281) (189,346) (203,248) c (3,848) (12,411) (10,306) 25 45 78 78,395 73,222 105,521 (a) (b) (c) EPS 26 19 16,743 20,466 7 27,447 42,807 77,120 24,375 53,634 23,029 68,565 116,907 100,156 27,447 42,807 77,120 7,788 24,098 7,590 16,587 29,536 15,439 51,822 96,441 100,149 (a) IA-41

(b) (c) (d) (e) (f) 27(c) 19 14 5.3% 5.5% 4.1% 51,510 105,692 91,971 17,055 11,215 8,185 27 68,565 116,907 100,156 Hung Fook Tong China Trading Limited Hung Fook Tong International Holdings Limited A.P. Logistics Co., Limited Rainbow Hero Limited Hung Fook Tong (BVI) Holdings Limited 5 IA-42

5 (a) 479 772 479 772 (b) 159 775 Hung Fook Tong (BVI) Holdings Limited 39 47 10 10 Hung Fook Tong China Trading Limited 16 23 30 819 13,196 41,827 1 149 206 1,043 14,052 42,212 (c) 5,880 5,880 77,069 61,655 5,880 82,949 61,655 31 (a) 8 8 8 A.P. Logistics Co., Limited 74 93 19,074 82 101 19,082 IA-43

(a) (i) (540) (540) (540) A.P. Logistics Co., Limited (6) A.P. Logistics Co., Limited (1,814) (1,943) 410 (ii) 3,700 85,938 3,700 85,938 293 154 2,569 3,853 2,862 4,007 Rainbow Hero Limited (1,200) (1,200) (200) (138) (144) (36) (b) 6,209 7,384 10,336 156 179 195 6,365 7,563 10,531 IA-44

(c) 67,324 116,421 103,545 28 3,098 3,002 7,125 346 11,738 13,610 14,883 8,272 9,172 9,577 8,665 9,284 11,407 31,773 35,068 43,338 3,098 4,110 7,125 346 11,738 13,610 14,883 8,272 9,172 9,577 8,665 9,284 11,407 7,512 9,245 9,731 721 146 23 15 15 15 2,174 15 15 10,422 9,421 9,784 IA-45

29 (a) 9,532 48,115 48,521 (162) (3,124) (4,303) 2,831 5,942 6,304 29(b) (2,025) 37 64 13 17,335 16,788 17,360 13 1,584 14 29 29 29 24 85 15 127 477 (167) 17 970 298 17 (4) 28,637 69,844 68,191 (6,391) (1,974) (6,708) (17,126) 290 (17,467) (6,199) (8,412) (9,603) (8,799) 3,681 1,725 41,762 (756) 31,864 31,884 62,673 68,002 (b) 837 270 85 6 2,025 (37) (64) 2,862 233 21 1,918,000 IA-46

30 (a) 73,074 79,026 65,661 96,672 75,488 61,036 169,746 154,514 126,697 (b) 4,872 1,316 3,441 31 (i) (ii) 1,570,000 51% 1.2 (iii) 82,568,000 (iv) 40,000,000 (v) 4,730,000 473,000,000 32 IA-47

III II 31(iv) IA-48

3.340 I III 22 +852 2289 8888 +852 2810 9888 www.pwchk.com IB-1

3.340 32,080,945 IB-2

I. 5 7,105,389 1,682,481 2,176,862 5 37,015 79,074 318,053 6 (226,570) (576,065) (548,296) 6 (3,391,478) (1,681,293) (1,979,534) 3,524,356 (495,803) (32,915) 7 (4,447,311) (2,826,254) (3,048,431) (922,955) (3,322,057) (3,081,346) 8 (922,955) (3,322,057) (3,081,346) IB-3

9 8,128,353 7,954,174 15,361,997 9a 27,723,097 27,650,560 43,583,747 35,851,450 35,604,734 58,945,744 146,000 280,722 103,030 16 11,911,086 15,052,730 21,730,174 11 507 368,496 13,559,901 12,057,593 15,701,948 35,393,105 47,909,043 51,306,682 94,338,849 12 34,848,500 34,848,500 100,700,100 (98,343,324) (101,665,381) (104,746,727) (63,494,824) (66,816,881) (4,046,627) 16 69,500,822 7,157,494 15 35,833,333 69,500,822 42,990,827 14 38,918,935 1,801,056 1,582,540 16 1,444,722 46,821,685 49,645,442 17 32,080,945 15 38,959,265 4,166,667 111,403,867 48,622,741 55,394,649 111,403,867 118,123,563 98,385,476 47,909,043 51,306,682 94,338,849 (99,346,274) (32,920,793) (20,001,544) (63,494,824) 2,683,941 38,944,200 IB-4

34,848,500 (97,420,369) (62,571,869) (922,955) (922,955) (922,955) (922,955) 34,848,500 (98,343,324) (63,494,824) (3,322,057) (3,322,057) (3,322,057) (3,322,057) 34,848,500 (101,665,381) (66,816,881) 65,851,600 65,851,600 (3,081,346) (3,081,346) (3,081,346) (3,081,346) 100,700,100 (104,746,727) (4,046,627) IB-5

18(a) (4,107,859) (4,144,873) (1,761,116) (4,107,859) (4,144,873) (1,761,116) (7,640,060) (676,542) (15,709,306) 18(b) 37,015 79,074 318,053 3,975,352 (1,459,163) (4,500,582) 4,012,367 (2,056,631) (27,531,895) 40,000,000 (38,832,095) 80,138,919 3,342,112 (11,715) (34,610,161) (857,696) (11,715) 6,696,663 42,484,416 (107,207) 495,159 13,191,405 (19,456) (126,663) 368,496 18(c) (126,663) 368,496 13,559,901 IB-6

II 1 11 13 Chang Sau Man Chen Pei Lin 94.48% 2 2.1 4 (a) (b) 99,346,274 32,920,793 20,001,544 98,343,324 101,665,381 104,746,727 4,107,859 4,144,873 1,761,116 39,269,828 55,366,263 21 IB-7

9 10 12 27 14 19 32 36 39 21 2.2 (a) (b) 2.3 IB-8

50 3 7 5 5 10 5 2.5 2.4 2.5 2.6 2.9 2.7 2.8 IB-9

2.9 2.10 2.11 2.12 2.13 IB-10

(a) (b) (c) 2.14 (a) (b) 2.15 IB-11

2.16 2.17 3 3.1 (a) (i) (ii) 15 50 194,147 96,158 67,679 (b) (c) IB-12

114,873,235 55,366,263 37,918,935 37,918,935 38,959,265 38,959,265 1,444,722 1,444,722 32,080,945 32,080,945 110,403,867 110,403,867 801,056 801,056 50,695,607 10,865,430 30,279,365 42,705,305 134,545,707 51,496,663 10,865,430 30,279,365 42,705,305 135,346,763 2,446,101 1,474,561 1,611,530 5,532,192 4,166,667 10,000,000 25,833,333 40,000,000 50,042,596 1,177,056 3,531,168 3,923,250 58,674,070 56,655,364 12,651,617 30,976,031 3,923,250 104,206,262 3.2 3.3 IB-13

4 (a) (b) 5 (i) 1,000,000 1,682,481 2,176,862 (ii) 6,105,389 7,105,389 1,682,481 2,176,862 (i) (ii) 37,015 79,074 318,053 37,015 79,074 318,053 IB-14

6 9 232,239 174,179 232,237 9a 990,341 749,079 1,051,192 480,041 208,197 130,631 6a 1,140,698 497,069 361,088 500,600 24,548 54,711 24,548 137,570 528,325 523,142 27,000 18,300 15,500 26,542 134,039 40,326 62,000 29,440 9,654 3,618,048 2,257,358 2,527,830 (a) 1,016,098 124,600 1,140,698 7 4,447,311 172,883 130,476 727,220 152,164 295,017 2,501,207 2,707,499 4,447,311 2,826,254 3,860,212 a (811,781) 4,447,311 2,826,254 3,048,431 a 4.6% IB-15

8 (922,955) (3,322,057) (3,081,346) 16.5% (152,288) (548,140) (508,422) 10,773 29,895 159,621 (142,256) (73,856) 283,771 518,245 422,657 9 10 50 8,360,592 8,128,353 7,954,174 7,640,060 (232,239) (174,179) (232,237) 8,128,353 7,954,174 15,361,997 232,239 174,179 232,237 IB-16

9a 49,160,375 30,783,606 81,098,496 8,945,742 169,988,219 (20,546,804) (30,783,606) (80,998,629) (8,945,742) (141,274,781) 28,613,571 99,867 28,713,438 28,613,571 99,867 28,713,438 (983,208) (7,133) (990,341) 27,630,363 92,734 27,723,097 49,160,375 107,000 2,215,533 51,482,908 (21,530,012) (14,266) (2,215,533) (23,759,811) 27,630,363 92,734 27,723,097 27,630,363 92,734 27,723,097 436,000 240,542 676,542 (738,986) (4,743) (5,350) (749,079) 27,327,377 235,799 87,384 27,650,560 49,596,375 240,542 107,000 1,896,994 51,840,911 (22,268,998) (4,743) (19,616) (1,896,994) (24,190,351) 27,327,377 235,799 87,384 27,650,560 27,327,377 235,799 87,384 27,650,560 6,000 305,751 167,501 16,505,127 16,984,379 (991,928) (150) (44,534) (14,580) (1,051,192) 26,335,449 5,850 497,016 240,305 16,505,127 43,583,747 49,596,375 6,000 546,293 274,501 1,896,994 16,505,127 68,825,290 (23,260,926) (150) (49,277) (34,196) (1,896,994) (25,241,543) 26,335,449 5,850 497,016 240,305 16,505,127 43,583,747 50 990,341 749,079 1,051,192 IB-17

10 146,000 203,195 46,802 16 11,911,086 15,052,730 21,730,174 11 507 368,496 13,559,901 14 38,918,935 1,801,056 1,582,540 16 1,444,722 116,322,507 56,802,936 17 32,080,945 15 38,959,265 40,000,000 11 507 368,496 13,559,901 507 368,496 13,559,901 12 100 380,000 38,000,000 2,000,000 200,000,000 2,380,000 238,000,000 348,485 34,848,500 658,516 65,851,600 1,007,001 100,700,100 658,516 100 IB-18

13 4,412,129 4,414,605 4,340,749 4,554,386 (142,257) 4,412,129 2,476 4,414,605 (73,856) 4,340,749 (4,554,386) 142,257 (4,412,129) (2,476) (4,414,605) 73,856 (4,340,749) 126,512,000 129,653,000 132,214,000 20,875,000 21,393,00021,815,000 IB-19

14 946,450 393,820 657,536 258,911 48,900 40,200 666,445 113,273 77,910 246,170 148,350 463,292 34,437,278 446,612 20(b) 1,000,000 1,000,000 1,000,000 259,533 96,713 1,138 38,918,935 1,801,056 1,582,540 15 127,170 38,832,095 4,166,667 35,833,333 38,959,265 40,000,000 38,959,265 4,166,667 10,000,000 25,833,333 38,959,265 40,000,000 11.41% 4.88% IB-20

(a) (b) (c) 8,128,353 27,630,363 (a) (b) (c) 15,361,997 26,335,449 16 A.P. Logistics Co., Limited A.P. Logistics Co., Limited 21 IB-21

16(a) (b) 5 (a) 4,401,192 6,867,692 10,939,122 984,934 326,216 367,476 A.P. Logistics Co., Ltd 6,524,960 7,858,822 10,423,576 11,911,086 15,052,730 21,730,174 (1,444,722) (1,449,272) (1,436,673) (b) (38,430,868) (41,772,980) (38,430,868) (41,772,980) (6,941,545) (6,435,789) (45,372,413) (48,208,769) (69,500,822) (7,157,494) IB-22

(a) 1,000,000 347,928 A.P. Logistics Co., Ltd 214,074 1,120,479 2,176,862 1,000,000 1,682,481 2,176,862 4,256,055 A.P. Logistics Co., Ltd 198,479 1,650,855 6,105,389 6,357,898 2,653,371 3,002,516 (b) (c) (d) IB-23

17 Tack Cheong Mercantile (Hong Kong) Limited Chang Sau Man Chen Pei Lin Yann Chen Chang Sau Man Chang Sau Man Tack Cheong Mercantile (Hong Kong) Limited 653,093 Yann Chen 2,523,423 Chen Pei Lin 9,983,836 Chang Sau Man 18,920,593 32,080,945 32,080,945 18 (a) (922,955) (3,322,057) (3,081,346) 4,447,311 2,826,254 3,048,431 5 (1,000,000) (1,682,481) (2,176,862) 5 (6,105,389) 18(b) (37,015) (79,074) (318,053) 9 232,239 174,179 232,237 9a 990,341 749,079 1,051,192 (2,395,468) (1,334,100) (1,244,401) (4,111,898) 4,550 (12,599) 90,879 (134,722) 177,692 1,197,287 1,111,341 (2,680,601) (681,808) (4,107,859) (4,144,873) (1,761,116) IB-24

(b) 9a 5 37,015 79,074 318,053 37,015 79,074 318,053 (c) 11 507 368,496 13,559,901 15 (127,170) (126,663) 368,496 13,559,901 (d) 34,437,278 (e) (i) (ii) (iii) (iv) (v) 7,105,389 1,682,481 2,176,862 2,653,371 3,002,516 32,080,945 16 65,851,600 463,292 IB-25

19 39,269,828 20 (a) 10,300,000 (b) 1,000,000 21 (i) (ii) 82,568,000 III IB-26

A. 4.29 1 2 3 1.0 102,297 130,582 232,879 0.37 1.3 102,297 176,560 278,857 0.44 (1) 102,297,000 (2) 1.00 1.30 II-1

(3) 632,000,000 (4) 40,000,000 1.0 1.3 0.31 0.38 II-2

B. 82,600,000 1 2 3a 3b 15,362 18,338 33,700 44,505 43,584 78,945 167,034 858 858 61,655 (61,655) 15,812 15,812 4,692 4,692 127,522 58,946 222,096 29,375 29,375 66,414 66,414 31,026 103 31,129 42,212 21,730 (63,942) 43,338 (34,226) 9,112 480 480 31,073 31,073 64,738 13,560 78,298 308,656 35,393 245,881 436,178 94,339 467,977 II-3

1 2 3a 3b 1,540 1,540 286 286 7,157 (7,157) 23,029 35,833 58,862 2,495 2,495 27,350 42,990 63,183 34,863 34,863 47,386 1,583 48,969 3,730 3,730 105,521 105,521 19,082 49,645 (49,645) 19,082 9,784 (9,784) 77,127 4,167 81,294 893 893 5,441 5,441 303,827 55,395 299,793 331,177 98,385 362,976 105,001 (4,046) 105,001 1. 2. 3. (a) II-4

(b) (i) (ii) (iii) (i) (ii) 4. II-5

C. II 1 II 5 II 1 II 5 (a) (b) 4.29 7 7 22 +852 2289 8888 +852 2810 9888 www.pwchk.com II-6

4.29(7) 3420 4.29 7 II-7

(a) (b) (c) 4.29(1) II-8

15% III-1

3% 5 12 98 12 MRICS MHKIS RPS (GP) 20 III-2

11 13 13 J 2 97,870.16 98,416 20,921.71 154,200,000 100% 154,200,000 11981 99 3% 1. TP663440 2. S/TP/25 3. a. TP275167 13 J 2 b. TP317833 13 J2 317833 19,954 c. TP405687 13 J 2 100,000 III-3

d. TP406603 10,001,596 46 13 J 2 e. TP406726 f. TP659756 g. 13041902790145 J 2 h. 13071601560018 13 J 2 4. (a) 15 (b) 3 (c) (d) (e) 5. a. 1,120 1,620 1,567 b. c. III-4

22 3 1. (a) 27(2) (b) 2. (a) (i) IV-1

(ii) (iii) (iv) (v) IV-2

(aa) (bb) (cc) (dd) (ee) (vi) IV-3

(vii) IV-4

(aa) (bb) (cc) (6) (dd) (ee) (ff) (viii) IV-5

(ix) (x) (30) (b) (c) (i) (ii) (iii) (iv) (v) IV-6

(d) (e) (21) (10) (95%) (21) (10) (15) (f) IV-7

(g) (15) (18) (h) IV-8

(21) (i) (21) (20) (e) (21) (10) (14) (10) (i) (ii) (95%) IV-9

(aa) (bb) (cc) (dd) (ee) (ff) (20%) (gg) (j) IV-10

(30) (k) (l) (m) IV-11

(i) (ii) (a) (b) (n) IV-12

(o) (20%) (14) (20%) (p) (2) 2.50 1.00 IV-13

(q) (r) 3(f) (s) (i) (ii) IV-14

(t) (i) (ii) (iii) (3) (u) 3. (a) (b) (a) (b) (c) IV-15

37 (d) (e) (c) (d) IV-16

(e) 34 34 2(m) (f) (a) (b) (c) IV-17

(a) (b) (c) (d) (g) (h) (i) (ii) (iii) (i) (j) 6 (1) (2) IV-18

(k) (l) (m) (n) IV-19

(28) (21) (o) (75%) IV-20

(p) (4) (90%) (4) (2) (1) (q) 4. Conyers Dill & Pearman (Cayman) Limited IV-21

A. 1. 98 12 2. 10,000 10,000 1.00 351 HFT BVI HFT BVI 5% Think Expert 4,042 2,376 1,890 861 479 HFT BVI Gold Work HFT BVI Gold Work (i) 1.00 100 0.01 (ii) 10,000,000 1,000,000,000 0.01 4,730,000 473,000,000 V-1

6,320,000 632,000,000 4. 3. (a) HFT BVI (i) HFT BVI 50,000 (b) (i) 38,000,000 380,000 100 238,000,000 2,380,000 100 (ii) 34,848,500 348,485 100 100,700,100 1,007,001 100 (c) (i) 8,000,000 (ii) 1,995,104.04 (d) (i) 1,000,000 (ii) 1,000,000 2,000,000 (iii) 2,000,000 (e) (i) 1,000,000 V-2

(ii) 1,000,000 (f) (i) 10,000 10,000 1 (g) (ii) 1 1 1 (i) 10,000 10,000 1 (ii) 1 1 1 (iii) 1 6,500,000 4. (a) (b) 1.00 100 0.01 (c) 10,000,000 1,000,000,0000.01 (d) (e) 4,730,000 473,000,000 V-3

(f) (i) (ii) (iii) (A) (B) (C) E. (aa) (bb) (cc) (dd) (ee) (ff) (g) 17 20% V-4

(h) 10% (i) (e) (f) 10,000,000 1,000,000,000 6,320,000 632,000,000 368,000,000 5. (1) 10,000 10,000 1.0 (2) HFT BVI HFT BVI 50,000 (3) 351 V-5

HFT BVI HFT BVI 5% Think Expert 4,042 2,376 1,890 861 479 HFT BVI Gold Work HFT BVI Gold Work (4) 1.00 100 0.01 10,000 1,000,000 0.01 10,000,000 1,000,000,000 0.01 Think Expert 40.4% 23.8% 18.9% 8.6% 4.8% 3.5% 6. (a) 10% V-6

(b) (c) (d) 26 V-7

(e) 632,000,000 A. 4. 63,200,000 B. 1. (a) 5% (3)(A) (b) 95% Gold Work (3)(B) (c) (d) G. 2. (e) HFT BVI 82,568,490.00 (f) Think Expert V-8

2. 143 (a) 5 19913866AA 29 199400616 30 199400617 42 199406868 43 11020020 5 848159 32 816751 29 30 43 300159327 32 300143964 5 16 301607931 29 30 43 300143955 43 6078240 32 9501188 43 6621703 16 29 30 43 300884043 16 29 30 43 300884034 43 9912530 V-9

(International Classification of Goods and Services for the Purpose of the Registration of Marks) 35 45 43 5 9 16 21 29 30 32 35 36 43 302653335 43 12923453 5 12923460 16 12923459 21 12923458 29 12923457 30 12923456 32 12923455 35 12923454 5 12923444 16 12923443 21 12923442 29 12923441 30 12923440 32 12923439 35 12923438 43 12923437 V-10

5 9 16 21 29 30 32 35 36 43 302653353 5 12923452 16 12923451 21 12923450 29 12923449 30 12923448 32 12923447 35 12923446 43 12923445 16 29 30 35 43 302654947 35 12907742 43 12907741 35 302653380 35 302653362 5 16 21 29 302653326 9 16 21 35 36 302653317 9 16 35 36 302653399 V-11

5 13305961 16 13305960 21 13305959 29 13305958 30 13305957 32 13308646 35 13305956 43 13305955 (b) hungfooktong.com hungfooktong.com.hk hungfooktongherbs.com.hk hungfooktongholdings.com.hk health-express.com.hk hungfooktong.com.cn hungfooktongholdings.com V-12

C. 1. 8,000,000 8,000,000 1,995,104.04 100% 2. 20,100,000 20,100,000 100% V-13

3. 13,000,000 13,000,000 100% 4. 2,000,000 2,000,000 100% V-14

5. 1,000,000 1,000,000 100% 6. 1,000,000 1,000,000 100% D. 1. V-15

1,200,000 1,000,000 1,680,000 1,600,000 820,000 240,000 240,000 240,000 2. 5,260,000 7,100,000 3. XV XV 7 8 V-16

352 (i) 1 4 393,846,600 (L) 62.3% 2 4 393,846,600 (L) 62.3% 3 4 393,846,600 (L) 62.3% 5 22,704,600 (L) 3.6% 40,811,400 (L) 6.5% L XV (1) Think Expert 30.3% Think Expert Think Expert (2) 17.8% (3) 14.2% (4) (5) 3.6% 22,704,600 V-17

4. 3. XV 2 3 10% Think Expert 1 393,846,600 62.3% CHAN Suk Hing Comita 2 393,846,600 62.3% 1 393,846,600 62.3% KWAN CHAN Lai Lai 3 393,846,600 62.3% 1 393,846,600 62.3% CHIU Lai Lin 4 40,811,400 6.5% L XV (1) (2) CHAN Suk Hing Comita (3) KWAN CHAN Lai Lai (4) CHIU Lai Lin V-18

1 1,950,000 30% (1) 70% 1 49,000 49% (1) 51% Gold Work 5. (a) G. 7. (b) (c) G. 7. (d) 5% V-19

E. (i) 1.00 (ii) (iii) (iv) (v) (vi) 2(c) 3(c) (vii) (b) 113 12,636,000 2% 1.96% 1.00 1.15 V-20

2% 0.3% 14,400,000 (a) 4,020,000 0.64% 450,000 (2) 3 8 H 1.00 1.00 800,000 0.127 98 1 10 B 1.00 1.00 800,000 0.127 (3) 8 10 12 B 1.00 1.00 450,000 0.071 3516 1.00 1.00 450,000 0.071 V-21

(2) 18 7A 18 D 1.00 1.00 500,000 0.079 1 10 13 E 1.00 1.00 340,000 0.054 1205 1.00 1.00 340,000 0.054 25 11 1.00 1.00 340,000 0.054 1. 2. 632,000,000 3. (b) 113 8,616,000 1.36% V-22

20,000 (2) 48 9 C 1.00 1.00 400,000 0.063 8 17 A 1.00 1.00 500,000 0.079 18 18 1.00 1.00 340,000 0.054 24 D H 1.00 1.00 280,000 0.044 3402 1.00 1.00 280,000 0.044 31 C 1.00 1.00 240,000 0.038 31 3104 1.00 1.00 240,000 0.038 37 E 1.00 1.00 240,000 0.038 33 10 12 D 1.00 1.00 120,000 0.019 V-23

(2) 2 21 14 1 14 32 E 13 17 B 2 2 7 19 B 32 3216 268 2 I 3 32 H 27 2704 20 24 A8 3005 33 21 3 C 32 3203 (2) 3502 1.00 1.00 100,000 1.00 1.00 120,000 1.00 1.00 200,000 1.00 1.00 200,000 1.00 1.00 200,000 1.00 1.00 200,000 1.00 1.00 200,000 1.00 1.00 200,000 1.00 1.00 100,000 1.00 1.00 100,000 1.00 1.00 130,000 1.00 1.00 100,000 1.00 1.00 70,000 0.016 0.019 0.032 0.032 0.032 0.032 0.032 0.032 0.016 0.016 0.021 0.016 0.011 V-24

808 1.00 1.00 70,000 (2) 0.011 2 6 D 1.00 1.00 200,000 0.032 21 2109 1.00 1.00 40,000 0.006 11 1106 1.00 1.00 90,000 0.014 30 3007 1.00 1.00 74,000 0.012 6 D 1.00 1.00 32,000 0.005 30 3004 1.00 1.00 32,000 0.005 2 34 D 1.00 1.00 32,000 0.005 (3) 8 8 3 31 A 1.00 1.00 20,000 0.003 3 13 H 1.00 1.00 58,000 0.009 18 1812 1.00 1.00 58,000 0.009 2 209 1.00 1.00 28,000 0.004 2717 1.00 1.00 28,000 0.004 V-25

(2) 521 1108 32 3213 2912 E 20 2002 4 6 K 8 6 7B D 26 3 301 27 2702 12 1222 17 21 2114 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 24,000 1.00 1.00 24,000 1.00 1.00 24,000 1.00 1.00 24,000 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.004 0.004 0.004 0.004 V-26

75 3 24 2116 7 736 10 313 8 1 18 H 28 2819 C 9 905 9 901 11 1102 6 662 714 1.00 1.00 24,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 20,000 1.00 1.00 28,000 1.00 1.00 28,000 1.00 1.00 26,000 1.00 1.00 26,000 1.00 1.00 24,000 (2) 0.004 0.003 0.003 0.003 0.003 0.003 0.003 0.004 0.004 0.004 0.004 0.004 V-27

18 1814 319 4 432 1.00 1.00 24,000 1.00 1.00 24,000 1.00 1.00 24,000 (2) 0.004 0.004 0.004 401 1.00 1.00 22,000 0.003 17 1709 1.00 1.00 22,000 0.003 13 G 1.00 1.00 22,000 0.003 33 3307 1.00 1.00 20,000 0.003 5 1518 1.00 1.00 20,000 0.003 8 1536 1.00 1.00 20,000 0.003 30 3005 1.00 1.00 20,000 0.003 1 01 1.00 1.00 20,000 0.003 3009 1.00 1.00 20,000 0.003 8 3 308 1.00 1.00 20,000 0.003 V-28

(2) 2 1 1.00 1.00 20,000 0.003 205 1.00 1.00 20,000 0.003 340 6 C 1.00 1.00 20,000 0.003 1 201 1.00 1.00 20,000 0.003 11 67 1.00 1.00 20,000 0.003 2903 1.00 1.00 20,000 0.003 34 23 2 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 120,000 0.019 Jinao Science Park 1.00 1.00 120,000 0.019 Jinao Science Park 1.00 1.00 26,000 0.004 Jinao Science Park 1.00 1.00 24,000 0.004 Jinao Science Park 1.00 1.00 60,000 0.009 Jinao Science Park 1.00 1.00 24,000 0.004 Jinao Science Park 1.00 1.00 24,000 0.004 V-29

(2) Jinao Science Park 1.00 1.00 100,000 0.016 Jinao Science Park 1.00 1.00 100,000 0.016 Jinao Science Park 1.00 1.00 24,000 0.004 Jinao Science Park 1.00 1.00 250,000 0.040 Jinao Science Park 1.00 1.00 250,000 0.040 Jinao Science Park 1.00 1.00 50,000 0.008 Jinao Science Park 1.00 1.00 50,000 0.008 Jinao Science Park 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 80,000 0.013 Jinao Science Park 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 80,000 0.013 V-30

(2) Jinao Science Park 1.00 1.00 20,000 0.003 Jinao Science Park 1.00 1.00 80,000 0.013 Jinao Science Park 1.00 1.00 34,000 0.005 Jinao Science Park 1.00 1.00 80,000 0.013 Jinao Science Park 1.00 1.00 200,000 0.032 Jinao Science Park 1.00 1.00 34,000 0.005 Jinao Science Park 1.00 1.00 34,000 0.005 Jinao Science Park 1.00 1.00 34,000 0.005 Jinao Science Park 1.00 1.00 62,000 0.010 Jinao Science Park 1.00 1.00 62,000 0.010 Jinao Science Park 1.00 1.00 62,000 0.010 Jinao Science Park 1.00 1.00 140,000 0.022 12,636,000 2.00 1. V-31

2. 632,000,000 3. % 800,000 0.124 800,000 0.124 450,000 0.070 450,000 0.070 500,000 0.078 340,000 0.053 340,000 0.053 340,000 0.053 400,000 0.062 500,000 0.078 340,000 0.053 280,000 0.043 280,000 0.043 240,000 0.037 240,000 0.037 240,000 0.037 120,000 0.019 100,000 0.016 120,000 0.019 200,000 0.031 200,000 0.031 200,000 0.031 200,000 0.031 200,000 0.031 200,000 0.031 100,000 0.016 100,000 0.016 130,000 0.020 100,000 0.016 70,000 0.011 70,000 0.011 200,000 0.031 V-32

% 40,000 0.006 90,000 0.014 74,000 0.011 32,000 0.005 32,000 0.005 32,000 0.005 20,000 0.003 58,000 0.009 58,000 0.009 28,000 0.004 28,000 0.004 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 24,000 0.004 24,000 0.004 24,000 0.004 24,000 0.004 24,000 0.004 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 28,000 0.004 28,000 0.004 26,000 0.004 26,000 0.004 24,000 0.004 24,000 0.004 24,000 0.004 24,000 0.004 22,000 0.003 22,000 0.003 22,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 V-33

% 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 120,000 0.019 120,000 0.019 26,000 0.004 24,000 0.004 60,000 0.009 24,000 0.004 24,000 0.004 100,000 0.016 100,000 0.016 24,000 0.004 250,000 0.039 250,000 0.039 50,000 0.008 50,000 0.008 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 20,000 0.003 80,000 0.012 20,000 0.003 80,000 0.012 20,000 0.003 80,000 0.012 34,000 0.005 80,000 0.012 200,000 0.031 34,000 0.005 34,000 0.005 34,000 0.005 62,000 0.010 62,000 0.010 62,000 0.010 140,000 0.022 12,636,000 1.96 V-34

450,000 20,000 63,200,000 10% 17 1. (a) (b) (i) (ii) (c) 2 2. (a) (i) (ii) (iii) V-35

(b) (c) (d) 9 3. (a) 1.00 (b) (i) 9 (ii) 9 (iii) (iv) V-36

(v) (vi) (vii) (c) (i) (ii) (1) (2) (d) 4. (i) (ii) (iii) 10 V-37

5. (a) 10% 10% (b) 10% (d) (c) 10% (d) (e) 1% (f) (a) 10 V-38

6. (a) (b) 7. 8. 9 9. (a) (b) (c) (d) (i) (ii) 178 (iii) V-39

(iv) (i) (v) (vi) 60 (c) (d) (e) (f) 30 10. V-40

11. 12. 7.14(3) 13. V-41

14. 15. (a) (b) 9 (c) 13 (d) 12 (e) (f) (i) (ii) 178 (iii) (iv) (i) (ii) (iii) (v) V-42

(vi) (g) 7 (h) (i) 8 16. 5 17. 18. (a) 17.03 (b) (c) 19. V-43

20. G. 1. 2. (a) (b) (c) (d) (e) (f) (g) V-44

(h) (i) (j) (a) (b) (c) (d) 3. 4. 5. 3A.07 V-45

6. 85,800 3,500,000 7. Conyers Dill & Pearman (Cayman) Limited Ipsos Hong Kong Limited 1 4 6 9 8. 9. 44A 44B V-46

10. (a) (b) (c) (d) (e) (f) (g) (h) (i) 12 (j) 11. 32L 4 V-47

G. 8. B. 1. 14 18 5 (1) (2) (3) (4) (5) (6) (7) Ipsos (8) Conyers Dill & Pearman (Cayman) Limited (9) (10) (11) (12) (13) VI-1

(14) (15) B. 1. (16) D. 1. (17) G. 8. (18) VI-2