Winox Holdings Limited 125,000,000 12,500,000 112,500,000 2.86 1% 0.003% 0.005% 1.87 0.10 6838 32342C 2.86 1.872.861%0.003% 0.005%1.87
( ) ( ) 1 2........... www.hkeipo.hk eipo 3............... 4....... eipo.......... 3.................... 5.......................... (a) (b) www.hkexnews.hk www.winox.com 6.............. i
www.hkexnews.hk www.winox.com................ 6 912...................... 6 8 12.................................. (1) (2) (3) www.hkeipo.hk (4) (5) (6) ii
(7) (i)(ii) (8) eipo1,000,000 28 26 1,000,000 1,000,000 28 26 (9) 1,000,000 (8) (10) (11) eipo eipo (12) iii
.......................................................................................................................... i iv................................................................ 1................................................................ 16..................................................... 26.......................................................... 28............................................................ 29.................................... 55........................................... 60............................................................ 63............................................................ 65............................................................ 81.......................................................... 89................................................................ 98................................................................ 102................................................... 152............................................. 160............................................................ 173................................................................ 175............................................................ 178 iv
.................................... 223................................................................ 224............................................... 232............................................... 241.............................................. I-1................................... II-1................................................ III-1................................................ IV-1.................... V-1.......................................... VI-1........................... VII-1 v
OEM 10,000 9.6% 70% 1.0 0.6 1.2 1
...................... 84.7% 77.3% 75.7%.................... 15.3% 22.7% 24.3%........................... 100.0% 100.0% 100.0%............ 242.4 74.7% 180.8 70.4% 308.0 77.3%........ 76.8 23.6% 67.5 26.3% 69.5 17.4%............ 5.4 1.7% 8.6 3.3% 21.1 5.3%............ 324.6 100.0% 256.9 100.0% 398.6 100.0%............. 255.0 78.6% 216.0 84.1% 284.6 71.4%............. 56.6 17.4% 30.7 11.9% 69.8 17.5%. 13.0 4.0% 10.2 4.0% 44.2 11.1%............. 324.6 100.0% 256.9 100.0% 398.6 100.0% 2
95.7%91.7% 86.6% Winox S.A. UVW Limited 1. Winox S.A.......... 54.9% 2. UVW Limited....... 12.7% 3. A.......... 10.4% 4. B.......... 4.5% 5. Maillor S.A......... 4.1% 1. Winox S.A.......... 58.0% 2. A.......... 14.5% 3. UVW Limited....... 9.7% 4. C.......... 7.2% 5. D.......... 2.3% 1. Winox S.A.......... 59.6% 2. UVW Limited....... 16.0% 3. A.......... 11.4% 4. C.......... 7.0% 5. E.......... 1.7% 3
...... 22.1 28.5% 6.7 9.1% 22.2 23.4%...... 22.2 28.5% 13.6 18.4% 16.4 17.4%........ 33.4 43.0% 53.7 72.5% 56.1 59.2% 77.7 100.0% 74.0 100.0% 94.7 100.0% Winox S.A. Winox S.A.Winox S.A. Winox S.A.Winox S.A. Winox S.A. Winoxinox stainlesswinox S.A. Winox WinoxWinox S.A. Winox Winox S.A. 4
59,009 46,380 3,000 2.49.8 20.3 89.8%67.4% 88.9% 6,666 3,730 90 948,000 10.8% 21.6% 37.6%38.8% 42.8% 5
OEM 6
8.9 137 10.5 7
17.7 20.8 180 (i) 15.9 (1) 18.7 83 (2) 48 (3) 49 (ii) 1.8 2.1 (i)(ii)(iii) (iv) 8
........................ 324,598 256,928 398,606.................. (202,692) (157,356) (227,936)........................... 121,906 99,572 170,670...................... 1,118 1,275 4,055...................... (8,464) (1,756) (1,254)................ (17,995) (12,588) (20,075)...................... (23,346) (25,058) (35,010)...................... (5,240)...................... (551) (2,981) (4,900).................... 72,668 58,464 108,246........................... (11,169) (6,296) (17,267)...................... 61,499 52,168 90,979................ 59,553 52,168 90,979.................. 1,946 61,499 52,168 90,979 324.6 256.9 398.6 324.6 20.8% 256.9 9
256.9 55.1% 398.6 121.9 99.6 170.7 37.6%38.8% 42.8% 38.8% 37.6% 22.8%31.9 14.155.8% 38.8% 42.8% 61.5 52.2 91.0 18.9%20.3% 22.8% 10
.................... 71,436 71,666 133,362...................... 142,029 134,511 200,572....................... 160,364 136,075 197,974............ (18,335) (1,564) 2,598.............. 53,101 70,102 135,960.................... 5,608 56...................... 47,493 70,046 135,960 18.3 2.6 11
........................ 37.6% 38.8% 42.8%........................ 18.9% 20.3% 22.8%.................... 96.3% 88.8% 88.3%.................. 49.8 83.2 52.9.............. 55.2 52.0 59.8.............. 59.1 36.0 31.5...................... 0.89 0.99 1.01.................. 0.17 0.34 0.42 1................... 110 2........................... 0.22 (1) (2) 500,000,000 12
14 1.87 2.86 1............................ 935 1,430 2...................... 8.5 13.0 3.................................. 0.68 0.92 (1) 500,000,000 (2) 1.872.86 500,000,000 13
(3) 1.872.86500,000,000 34,800,000 29,320,000 8,800,000 2.37 261.1 25% 65.3 65% 169.7 14
26.1 43.1 2.37 15
22 32 16
BVI Good Effect Good Effect Limited eipo 6 17
13 4 eipo eipo www.hkeipo.hk eipo eipo www.hkeipo.hk 18
BVI Ming Fung Investment Limited * 19
3. 20
30 18,750,000 15% 112,500,000 21
12,500,000 S S 144A 144A 22
571 0.10 18,750,000 23
BVI 24
% 1 7.8 0.85 1 * 25
CNC 316 316L 316 316L OEM original equipment manufacturer 26
PVD physical vapour deposition REACH 1907 RoHS Restriction of Hazardous Substances 95 27
28
OEM 310.7235.8 345.2 95.7%91.7% 86.6% Winox S.A. 29
193.3148.9218.7 59.6%58.0% 54.9%Maillor S.A.Winox S.A. 4.0 16.3 1.5% 4.1% Winox S.A. Maillor S.A.193.3152.9235.0 59.6%59.5% 59.0% Winox S.A. 242.4180.8308.0 74.7%70.4% 77.3% 30
78.6% 84.1%71.4% Winox S.A., UVW Limited Maillor S.A. 84.7% 77.3%75.7% 31
10 68.0 61.2 79.0 33.5%38.9%34.7% 316316 32
4,7577,735 3,7584,948 5% 1.7%1.9% 1.7% 3.43.14.0 37.6%38.8% 42.8%61.5 52.2 91.018.9%20.3%22.8% 70% 33
18.31.6 34
16.3 19.2 697,666.67 14.016.5 (1) 35
(2) (3) (4) (5) 16.3 1.9 1.8 36
0.170.34 0.42 180 37
44.3 20.338.6 57.0%27.5%40.8%22.1 6.722.2 28.5%9.1% 23.4% Winox S.A. Winox S.A. 22.15.928.5% 8.0% Winox S.A.Winox S.A. Winox S.A. Winox S.A. 38
Winox S.A.WinoxWinox S.A. Winox S.A. Winox Winox Stainless inox WinoxWinox S.A. WinoxWinox S.A. Winox S.A.Winox S.A. 10 Winox S.A.Winox S.A. Winox S.A.Winox S.A.Winox 39
Winox S.A. Winox Winox 40
49.6%47.1% 63.1% 41
3% 3.0 2.24.3 3% 316 316 4,7577,735 3,7584,948 OEM 3,000 29.0%34.7% 35.2% 42
3,000 43
14,163.30 30.54% 10,728.30 23.13% 3,435.00 7.41% 2.0 2.4 44
6%148,000 174,000 2.3 2.7 10,728.30 6%722,000 850,000 13.0 15.2 32.2 41.089.7 15.1%19.9% 26.9% 45
3090 55.2 52.059.8 34.829.3 8.8 20.8% 15.2% 46
OEM OEM CNC 47
48
49
63 25% 33% 50
51
52
500,000,000 125,000,000 25%330,000,000 66% 53
54
55
S 40 84 102B a 85b 21 (i)(ii) 2003/71/EC 2(1)(e)(a) 19(5) (b)49 (c) (i) (ii) 56
289 (a) 274(b)275 275(1)275(1A) (iii) 275 (a) (b) 4A 239(1) 275 (1) 275(2) 275(1A) 276(4)(i)(B) (2) (3) (4) 276(7) 57
10% 0.2% 58
1 7.8 0.85 1 2,000 59
18 19 18 19 8 5 11 C 86 15 D 23 5 14 A 1631A 5 52 6 A 60
16 18 25 16 18 25 16 18 25 8 2 27 183 45 71 19 8 36 3609 88 2 13 1308 18 20 61
233 54 510613 Conyers Dill & Pearman Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 1 40 200 11 200120 88 35 1 16 62
Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 148 18 18 19 A 42 8 JD (Melb)ACIS, ACS 63
16 18 25 www.winox.com Codan Trust Company (Cayman) Limited Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 28 26 29 145 64
OEM 10,000 9.6% 5.7% (i)(ii)(iii) (iv) GDP 2.9% GDP0.5% GDP 5.0% 4.4% 65
GDP 455,620629,090 6.7%GDP 5.5% GDP 90,000 80,000 70,000 60,000 50,000 40,000 30,000 45,562 49,349 55,702 61,268 57,920 62,909 68,652 72,486 76,467 GDP 20,000 10,000 0 7,1308,728 5.19% 1,7603,65020% 66
vs 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 7,130 1,760 7,604 2,050 8,099 2,490 8,691 8,728 3,650 3,050 1,000 0 316L 67
2% 6% 6% 2% 31% 7% 8% 2% 31% 16% 14% 18% 21% 17% 21% 28,400,000 24,600,000 26,200,00031,600,000 1.3% 5,470 12,450 10.8% 68
1,400 1,200 1,000 800 600 28,400 27,800 27,200 26,200 28,400 25,900 24,600 925 805 704 547 562 576 574 29,900 1,068 31,600 1,245 35,000 30,000 25,000 20,000 15,000 400 10,000 200 0 0 5,000 316 4,757 7,735 3,758 69
3164,948 31.7%316 316 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 7,735.3 6,519.5 4,756.8 5,426.7 4,948.3 3,757.8.................................. 70
................ 800............................................................. 71
8% 2% 7% 31% 14% 17% 21% (1) (2) (3)(4) 80-90% 72
EU REACHRoHSREACH RoHSRoHS 10,000 8,953 10,747 6.3% 10,882 12,6075.0% 260 34810.2% 6,8571,866 8,170 2,229 6.0% 6.1% 73
8,060 2,4333898,7632,942 556 2.8%6.5% 12.6% 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 260 1,866 6,857 298 2,039 7,483 330 348 389 442 498 2,133 8,165 2,229 8,170 2,433 8,060 2,583 2,747 8,095 8,150 556 2,942 8,763 8,170 3,317 8,060 3,208 40.60% 39.80%................ 8,170 100% 8,060 100%.......... 3,317 40.60% 3,208 39.80%.............. 4,853 59.40% 4,852 60.20% 74
6,0302,060 892 463 453 270180 7,000 6,000 5,000 5,894 6,030 4,000 3,000 2,000 1,000 0 1,8392,060 652 892 370 453 152 180 294 270 393 463 75
12356 25 26.5 14 53% 60% 53% 50% (26,471,793) 40% 30% 20% 19% 23% 10% 0% 2% 3% 5.0%4.0% 5.7% 76
115.41,840.4 151.7% 23.6% 20,000 16,000 12,000 8,000 4,000 0 2.7 115.4 6.8 15.1 332.9 814.7 33.0 1,840.4 94.0 6,414.7 154.9 147.1 135.3 9,769.9 11,494.1 12,107.5 160 140 120 100 80 60 40 20 0 77
1,840.46,414.7 248.6%3,888.9 4,327.911.3% 7,000 6,414.7 6,000 5,000 4,000 3,888.9 4,327.9 3,000 2,000 1,840.4 1,000 352.4 588.0 62.6 77.2 43.9 65.2 162.1 314.3 0 78
10,000 9.6% 79
318,000 (i) (ii) (iii) 1 7.769 80
[1999] 314 81
AAAB CD AAA A (i)b(ii) (iii) (iv)(v) 500,000(vi)5%(vii) (viii) (ix) 82
(x) (xi) A 30 30 83
84
20,000 200,000 10,000 100,000 85
(i) (ii) (iii) 3 86
87
88
27 Winox S.A. Winox WinoxWinox S.A. 59,000 32,217 89
(i) (ii) 813,916.53 1,056,259 14,163 3,000 2,400,0009,800,000 20,300,000 90
CNC 3,730 6,666 90 948,000 ISO90012000 ISO90012008 SA80002001 SA80002008 16% 91
10,000 10,000 1.00 10,000Good Effect59%So & Y Limited 25%5%4%3% 3% 1% So & Y Limited475,000 Good EffectGood Effect 84%5%4%3% 3% 1% Good Effect 84% 5%4%3%3%1% 1% 4%1,830,000 88%5%4%2%1% 5% 88%5%4% 2%1% 92
60,000,000 60,000,000 1 35,191,200 4,798,800 40,000,00088%11.997% 0.00125%0.001%0.0005%0.00025% 88% 12% 20,000,000 17,600,000 2,400,000 1.00 50,00050,000 1.00 BVI1 BVI 879 BVI 75 20 20 BVI 86.93%8.53%2.27% 2.27% 50,00050,0001.00 1 BVI1 BVI8712 93
10,00010,0001.00 1 BVI BVI 50,000 50,000 1.00 BVI1 BVI 10,00010,0001.00 1 15 8.85 15 520 19.65 94
1030 21.65 26.65 1040 31.65 34.65 39.65 1050 41.65 50 50 20 30 45 252 52 95
Good Effect Good Effect Good Effect100% 60,000,000 1.00 60,000,000 Good EffectFavourite Agents LimitedWinox International Holdings (BVI) Limited 29,999,99824,000,000 6,000,000 Good Effect Favourite Agents Limited 43,125,000 Good Effect Good Effect6,000,000 Fascinor Holding SA Good EffectWinox International Holdings (BVI) Limited6,000,000Good EffectGood Effect100% Good Effect 5%5%6.5%5%1.5%1%1% 2% 15,000,000 96
Good Effect Good Effect98% 2% 72.5%7.5% 2%2%4%1%5%2 % 4% 4%1,921,500 Fascinor Holding SA Good Effect OEM 97
1. 78 1 7.80 2. BVI 1 1.00BVI 3. 10.00 4. (i) (ii) BVI765 75 20 20 BVI 12%76.5%7.5%2%2% (a) 802 BVI763 752020(b) 1 (c) 2 BVI 5. 7,200,000 12% 1 119 6. 99.00 BVI 991.00 BVI 40BVI 40% 98
100% 100% BVI 100% BVI 13.07% 86.93% 100% 2 76.5% 11.5% 1 12% 12% 100% 88% 100% 100% 100% 100% 1. 7.5%2% 2% 2. 41.67%33.33% 16.67% 8.33% 99
60% 40% BVI 86.93% 13.07% 100% 88% 12% 100% BVI 100% 100% 100% 100% 100% 100% 100% : 1. 8.52%2.27% 2.27% 2. 41.67%33.33% 16.67% 8.33% 100
60% 40% BVI 86.93% 13.07% 100% 66% 9% 25% 100% BVI 100% 100% 100% 100% 100% 100% 100% Winox Management : 1. 8.52%2.27% 2.27% 2. 41.67%33.33% 16.67% 8.33% 101
OEM 10,000 9.6% 316L 70% 1.0 0.6 1.2............ 242.4 74.7% 180.8 70.4% 308.0 77.3%........ 76.8 23.6% 67.5 26.3% 69.5 17.4%............ 5.4 1.7% 8.6 3.3% 21.1 5.3%............ 324.6 100.0% 256.9 100.0% 398.6 100.0% 102
Winox S.A.UVW Limited Maillor S.A. 95.7%91.7% 86.6%...................... 84.7% 77.3% 75.7%.................... 15.3% 22.7% 24.3%........................... 100.0% 100.0% 100.0% 78.6%84.1% 71.4%............. 255.0 78.6% 216.0 84.1% 284.6 71.4%............. 56.6 17.4% 30.7 11.9% 69.8 17.5%...... 13.0 4.0% 10.2 4.0% 44.2 11.1%............. 324.6 100.0% 256.9 100.0% 398.6 100.0% 59,009 103
46,380 3,000 6,666 3,730 90 PVD PVD OEM 10.8% 21.6% 37.6%38.8% 42.8% 104
95.7% 91.7% 86.6%Winox S.A. UVW Limited 105
REACH RoHS 0.1% 0.3%0.2%0.4%0.3%0.4% 37.6%38.8% 42.8% CNC 106
5.9 5.2 22.7 B A OEM OEM 107
108
6,666 3,730 90 8.9 10.5 137 65%169.7 2.37 4,500 109
19 8.5 26 2.45.00.5 67,000 1 697,666.67 300 200,000700 466,667 300200,000 110
17.720.8 (i) 15.918.7 16.314.0 1.9 (ii)1.8 2.1 180(1)83(2) 48 (3)49 65%169.7 2.3725% 65.32.37 (i) 111
(ii)(iii) (1)CNC(2) (3) (A) (B) 30 90 (C) 112
PVD ISO9001: 2008 SA8000: 2008 349 SA8000: 2008 SA8000: 2008 7.3% 113
OEM (1)(2) (1) (2) 114
74.7%23.6%1.7% 70.4%26.3% 3.3% 77.3%17.4%5.3%............ 242.4 74.7% 180.8 70.4% 308.0 77.3%........ 76.8 23.6% 67.5 26.3% 69.5 17.4%............ 5.4 1.7% 8.6 3.3% 21.1 5.3%............ 324.6 100.0% 256.9 100.0% 398.6 100.0% 70% 10,000 115
9.6% 242.4180.8308.0 12.7% 76.8 67.5 69.5 REACH RoHS 5.48.6 21.1 98.1% 116
316L 117
.................... 118
(1)(2)(3)(4)(5) (6)(7) CNC CNC CNC CNC 119
Stainless Steel 521619 31.9 4.3 14.1 26 120
59,009 46,380 3,000 19 8.526....................... 2.2 2.2 2.4....................... 7.7 7.7 9.8................... 15.8 15.9 20.3 CNC (1)CNC 121
(2)CNC(3) CNC CNC 89.8%67.4% 88.9% 55.1% 6,6663,730 90948,000 CNC 5.9 5.2 22.7CNC 26 122
(1)(2) (3) (4) (5) 38.3%47.0% 41.5% Winox S.A. 3090 316 316L 316 316L 68.0 61.2 79.0 33.5%38.9% 34.7% 5% 1.7%1.9% 1.7% 3.43.14.0 316316 4,7577,735 3,758 4,948 123
17 ISO9001 (1) (2)(3)Winox S.A. 124
... 22.1 28.5% 6.7 9.1% 22.2 23.4%.......... 22.2 28.5% 13.6 18.4% 16.4 17.4%..... 33.4 43.0% 53.7 72.5% 56.1 59.2% 77.7 100.0% 74.0 100.0% 94.7 100.0% Winox S.A. Winox S.A. Winox S.A. 22.15.9 125
28.5% 8.0%Winox S.A. Winox S.A. Winox S.A. Winox S.A. Winox S.A. Winox S.A. Winox S.A. 5% PVD X 126
(A) (1) (2) (3) 100% (4) 100% (5) 127
(B) ISO9001: 2000 ISO 9001: 2008 ISO9001: 2000 ISO9001: 2008 ISO90012000ISO90012008 128
732,000 543,000 700,000 0.30%0.30% 0.23% 305,000317,000 526,000 0.37%0.42% 0.58% 0.1%0.3%0.2% 0.4%0.3%0.4% Winox S.A.UVW Limited Maillor S.A. 90 12.010.6 0.9 8.7 6.30.7 14.19.7 1.7 129
Winox S.A. Winox S.A.(i) (ii) Winox S.A. Winox S.A. 78.6% 84.1% 71.4%........... 255,013 78.6% 216,017 84.1% 284,568 71.4%........... 56,595 17.4% 30,701 11.9% 69,832 17.5%..... 12,990 4.0% 10,210 4.0% 44,206 11.1%........... 324,598 100.0% 256,928 100.0% 398,606 100.0% 130
324.6256.9398.6 10.8%........................ 84.7% 77.3% 75.7%...................... 15.3% 22.7% 24.3%............................ 100% 100% 100% (1) (2) (3) (4) (5) (6)(5) 131
81715............................... 4.0 1.2%............................... 10.3 4.0%............................... 12.2 3.1% 95.7%91.7%86.6% Winox S.A.Maillor S.A. Winox S. A......... 193.3 59.6% 148.9 58.0% 218.7 54.9% Maillor S. A........ 4.0 1.6% 16.3 4.1% 193.3 59.6% 152.9 59.6% 235.0 59.0%.......... 131.3 40.4% 104.0 40.4% 163.6 41.0%.............. 324.6 100.0% 256.9 100.0% 398.6 100.0% Winox S.A. Winox S.A. Maillor S.A. Winox S. A. 132
UVW Limited Winox S. A.Maillor S.A. UVW Limited............... 1. Winox S. A.......... 54.9% 2. UVW Limited........ 12.7% 3. A........... 10.4% 4. B........... 4.5% 5. Maillor S. A......... 4.1%............... 1. Winox S. A.......... 58.0% 2. A........... 14.5% 3. UVW Limited........ 9.7% 4. C........... 7.2% 5. D........... 2.3%............... 1. Winox S. A.......... 59.6% 2. UVW Limited........ 16.0% 3. A........... 11.4% 4. C........... 7.0% 5. E........... 1.7% 5% 133
30 90 2.9 (1)(2) 27 40.6 49.8 83.252.9 134
80 316L 375,000 734,000 1,131,000 135
CNC 136
114,000 153,000373,00080,000 300,000 28,000 (1) (2)1.3 137
(i)(ii) (iii) (iv) 80,000 1. 5 350,000 350,0005%15% 350,000 2. 138
80,000 (i) (ii) 50,000500,000 28,000 139
80,000 50,000500,000 3. 33,200 32,200 10,000 50% 4. 140
14,163.3 15 30.5% 11,032.3 15 23.8% 10,728.315 23.1% 3,435.0015 7.41% 2.02.4 141
(i) (ii) (iii) (iv) (ii) (iv) 13.0 142
0.80.5 0.9 15.2 143
(A) (B) (A) (B) 144
(A) (B) (C) (A) (B) 145
(A) (B) (C) (D) (1)20 146
(2) 18 31 4 (E) (F) (G) (H) 147
(I) 3A.19 485 148
3,000.................................... 11 0.4%.................................... 2,714 88.1%......................... 15 0.5%.............................. 80 2.6%.......................... 130 4.2%................................ 31 1.0%................................ 100 3.2%.................................... 3,081 100.0% 76.4 70.7 94.0 23.5%27.5% 23.6% 7.3% SA8000: 2008 149
43 1,016.9 6,6663,730 150
3. 697,666.67 16.3 19.2 ) 14.016.5 16.3 300 200,000 700 466,667 300200,000 (i) (ii) (iii)(iv) (v) 610 12B2C3 2. 151
I. 66% Ming Fung Fund Limited Kan Park Developments Limited Boluo Ming Fung Zhiye Limited* Pan Ocean Properties Limited Sellmure Investments Limited 152
OEM II. 1. MFIH MFIH MFIH MFIH 345,00014A.33(2) MFIH 1,071,0001,086,0001,181,000 MFIH 2. 153
14A.33(3) 402,360 610 1 2B2C 3 402,000 402,000 100 14A.33 3. 154
... 660,000 100 14A.33 4. 14A.33(3) 346,000 289,000 262,000 100 14A.33 155
5. 6. III. I. OEM 1. 2. 156
3. 4. 157
(i)(ii) 5. 36,400,000 69,100,000139,500,000 26 IV. (a) (b) 158
(c) (i) (a)(c) (1) (2) (ii) (a) 10% (b) 10% 159
52 47 48 47 64 63 58 63 52 27 160
47 20 48 BVI 20 (1)855(2) 837 (3)1057 (4) 8169 (5) 8306 161
47 13 (CHO) 64 270 124 162
63 3968 386 58 30 163
BBS63 30 (1)1224 (2)1194(3) 27(4)874(5) 2010(6)702 (7) 1161(8) 8228 XV 164
13.51(2)(a) (v) 42 38 47 50 50 56 B 59 A 35 A 35 A 31 42 165
38 IRCA Managing For Quality Limited ISO 90002000 47 17 13 Fossil (Newtime) LimitedFossil Inc. FOSL 166
50 84 20 SA8000:2001ISO9001:2000 ISO 9000 P-E Batalas Limited ISO9001:2000 50 56B 35 167
59A 20 30 A 35A 35A A 12 31 168
46 1058 18 372,000 372,000 1,451,000 4,013,0003,648,000 3,323,000 169
4,711,000 3,000............................... 11 0.4%............................... 2,714 88.1%........................ 15 0.5%........................ 80 2.6%....................... 130 4.2%........................ 31 1.0%.......................... 100 3.2%............................... 3,081 100% 170
4.6 4.4 7.6 76.470.7 94.0 3.21 C3 B1 171
A.4 3A.19 1. 13.46 2. 3. (i) (ii) (iii) (iv) 172
XV23 10% 1) 2)........ (L) 330,000,000 66% BVI......... ( 3) (L) 330,000,000 66%.......... (L) 330,000,000 66% 4).......... (L) 330,000,000 66% 5)........ L 45,000,000 9%.......... 6 L 45,000,000 9%.......... 7 L 45,000,000 9%.......... 8 L 45,000,000 9% 173
1. L 2. 3. BVI86.93% 4. BVI60%BVI 86.93% 5. BVI40% BVI86.93% 6. 41.67% 7. 33.33% 8. XV23 10% 174
4,000,000,000 0.10 400,000,000 375,000,000 37,500,000 112,500,000 11,250,000 12,500,000 1,250,000 500,000,000 50,000,000 8.08 25% 175
20% 176
10% 177
OEM 10,000 9.6% 55.1% 74.4% 178
65% 25% 770 1,100 179
1,9952,489 OEM 180
5 181
182
183
184
185
1.................... 37.6% 38.8% 42.8% 2.................... 18.9% 20.3% 22.8% 3................ 96.3% 88.8% 88.3% 4.............. 49.8 83.2 52.9 5......... 55.2 52.0 59.8 6......... 59.1 36.0 31.5 7.................. 0.89 0.99 1.01 8.............. 0.17 0.34 0.42 1. 2. 3. 186
4. 365 5. 365 6. 365 7. 8. 96.3%88.8% 88.3% 83.2 49.852.9 59.136.031.5 1.00 1.00 187
0.170.34 0.42..................... 324,598 256,928 398,606.............. (202,692) (157,356) (227,936)....................... 121,906 99,572 170,670................... 1,118 1,275 4,055................... (8,464) (1,756) (1,254)............ (17,995) (12,588) (20,075)................... (23,346) (25,058) (35,010)................... (5,240)................... (551) (2,981) (4,900)................. 72,668 58,464 108,246....................... (11,169) (6,296) (17,267)................... 61,499 52,168 90,979............ 59,553 52,168 90,979.............. 1,946 61,499 52,168 90,979 188
................... 242,457 180,855 308,008............... 76,763 67,480 69,500................... 5,378 8,593 21,098 324,598 256,928 398,606.................... 1,033 631 1,180................ 1,375 1,154 1,175................... 192 291 453 2,600 2,076 2,808................... 255,013 216,017 284,568................... 56,595 30,701 69,832.... 12,990 10,210 44,206 324,598 256,928 398,606 189
.................... 1,729 1,470 1,657.................... 625 309 351..... 246 297 800 2,600 2,076 2,808 74.7%70.4%77.3%39.7%30.4%42.0% 38.9% 16.1% 51.6% 51.6% 190
................... 234.7 286.7 261.0............... 55.8 58.5 59.1................... 28.0 29.5 46.5................................... 22.2% (8.9%)............................... 4.8% 1.0%................................... 5.4% 57.6% 234.7 286.7 261.0 191
5%.............. 77,651 73,952 94,693.............. 58,833 54,667 80,221................... 66,208 28,737 53,022 202,692 157,356 227,936 192
67.3%81.7% 76.7% 67.3% 81.7% 31.9 15.7%4.3 2.7% 14.1 6.2% 38.3%47.0% 41.5%.............. 60.7 37.2 43.6.................................... (38.7)% 17.2% 316L 193
38.3% 47.0% 29.0%34.7% 35.2%.. 58,833 54,667 80,221............ 2,457 1,940 2,686.......... 1,995 2,348 2,489......... 17.7% 6.0% 194
121.999.6 170.7 37.6%38.8% 42.8% 38.8% 37.6% 22.8%31.9 14.1 55.8% 38.8% 42.8% 61.552.2 91.0 18.9%20.3%22.8% 1.9 3.2%202.7 195
324.6 242.4 76.8 5.4 74.7%23.6%1.7% 234.755.828.0 78.6% 255.0 29.0% 38.3% 121.937.6% 0.9 2.5 2.9 3.1 18.0 12.92.11.8 71.4%11.6% 10.1% 23.3 10.3 4.1 0.6 0.17 324.6 20.8% 196
256.9 22.2%4.8%5.4% 234.7 55.828.0 286.7 58.529.5 15.3%255.0 216.0 84.1%78.6% 18.3%121.9 99.6 38.8% 37.6% 8.5 1.8 197
30.0% 18.012.6 12.9 32.6%8.7 7.7%23.3 25.1 17.5% 10.3 12.1 441.0%0.6 3.0 0.17 0.34 256.955.1% 398.6 87.0%1.8%55.7% 9.0% 59.158.5 55.7% 57.6% 198
71.4% 84.1%216.0 31.7% 284.6 71.4%99.6 170.7 38.8% 42.8% 54.7 80.2 1.3 4.1 75.9% 15.3 8.7 53.7% 256.9 398.6 39.7% 35.0 25.1 1.8 0.1 15.9 12.1 199
5.2 64.4% 4.9 3.0 0.340.42..................... 16,720 8,584 9,563..................... 18,413 13,544 30,647..................... 11,187 3,305 423 46,320 25,433 40,633 46.3 25.4 40.6 60.2%46.7%24.6% 65.6%94.1% 100.0% 200
.... 49.8 83.2 52.9 365 49.883.2.............. 32,230 41,046 89,667............ 334 340 3,324.. 151 151 156............ 452 2,846....................... 330 243 1,615 1,267 734 7,941 33,497 41,780 97,608 32.2 41.0 89.7 2.9 201
0 30.................... 14,182 23,456 46,182 31 60................... 6,993 6,577 42,866 61 90................... 9,014 5,094 446 90................... 2,041 5,919 173 32,230 41,046 89,667 60................... 12,259 9,673 41,666 61 90................. 4,248 90................... 525 1,672 173 12,784 15,593 41,839.............. 39.7% 38.0% 46.7% 3090 202
39.7%38.0% 46.7% 90 173,000 090 93.7%85.6% 99.8% 90 90 060 90 30 30 89.789.3 203
................... 55.2 52.0 59.8 365 52.0 59.8 99.6% 1.3 0.7 7.9 5.7 26.7 0.5 204
.............. 18,802 12,261 27,116............ 8,451 11,654 16,807................... 1,780 3 4............ 4,430 8,742 8,338................... 1,355 2,651.............. 462....................... 330 848 1,203 14,991 23,064 29,003 33,793 35,325 56,119 18.8 12.3 27.1 121.2% 0 30.................... 4,643 4,911 9,177 31 60................... 4,295 4,090 10,112 61 90................... 3,595 1,560 4,133 90................... 6,269 1,700 3,694 18,802 12,261 27,116 205
30 60 090 66.7%86.1% 86.4% 90.3%................... 59.1 36.0 31.5 365 59.136.0 36.0 31.5 15.0 23.1 29.0 8.1 53.9%4.3 3.2 25.8%5.2 44.2% 95.2% 100% 206
70.9 59.3 54.3.................. 46,320 25,433 40,633 62,720............... 33,497 41,780 97,608 101,829..... 241....... 5,673 26,701 538 346....... 499 124....... 56,040 40,232 61,793 40,876 142,029 134,511 200,572 205,771... 33,793 35,325 56,119 69,270............. 1,200............. 5,212 6,508 1,125 3,985....... 29,164 80..... 55,624 24,976............. 36,437 69,052 139,474 130,226......... 134 134 56 11 160,364 136,075 197,974 203,492.... (18,335) (1,564) 2,598 2,279 18.31.6 2.6 207
2.3 24.0%26.3% 50.0% E26 9.6 18.3 16.6 1.6 72.3 2.6 205.8 203.5 18.32.6 208
5.7 26.7 0.5 55.625.0 29.2 0.1 62.3 64.3 94.6 41.231.0 32.2 44.6 23.2 23.3 92.3%99.4%99.2% 69.181.3 13.7 16.1 8.7 10.1 33.4 209
..................................................... 41,193.............................................. 7,126 48,319............................. 7,144.................................. (658)......................... (53)................ 54,752................................................ 26,566................................ 81,318 13,706,000 81,318,000 55,414,00065,193,000 IV-5 13,706,000 16,125,000 IV-7IV-8 15.918.7 15.9 18.7 14.0 16.516.319.2 1.01.2 0.9 1.0 2.3 2.7 210
2.10.57.4 178 4.0 31.2 16.5% 25% 211
12.5% 56.0 40.261.8 27.6%25.6% 27.1% 99.0 93.3 100.9................... 31,688 56,040 40,232................. 66,629 73,125 48,768...... (59,434) (28,700) (38,366)................. 17,074 (60,233) 10,712............... 24,269 (15,808) 21,114........ 83 447................... 56,040 40,232 61,793 212
66.6 73.1 48.8 18.7 44.1 5.7 26.726.7 34.8 28.1 213
34,800,000 29,320,000 8,800,000 214
130,237,000 11,000130,226,000........... 27,687 50,902 69,739 69,170....... 5,000 3,750 24,785 39,571....... 3,750 14,400 44,950 21,485 36,437 69,052 139,474 130,226........... 157 157 65 11....... 157 65....... 65 379 222 65 11.... 29,164 80.. 55,624 24,976 121,604 94,330 139,539 130,237 55,452,000 91,552,000 146,193,000140,671,000 215
2.0 36.469.1139.5 130.2 36.469.1 139.5 130.2 8.818.269.761.1 69.7 216
4,146,000 13.13 13.19 13.18 50% 75.4 13.18 13.13 13.19 217
..... 9,903 2,770 6,517........... 2,708 9,903 2,770 9,225 2.3 2.7 72.0% 218
..................... 402 2,404.............. 5,211................... 6,393 402 14,008 1 50 219
3%152,000 139,0001,00024,000 349,0003% 220
1 2 3 1.87.............. 135,960 205,690 341,650 0.68 2.86.............. 135,960 325,727 461,687 0.92 (1) (2) 1.872.86 (3) 500,000,000 (4) 13,706,000 81,318,000 54,752,000 26,566,000 762,000 (5) 221
(i) 8,800,000 (ii) 10 (iii) (iv) 43,793,000 110 500,000,000 0.22 222
2.37 261.1 25% 65.3 65% 169.7 26.1 43.1 2.37 223
(a) 224
(b) (c) (d) (e) (f) (i) (ii) (iii) 225
(iv) (v) (vi) (vii) (viii) (a) (f) (aa) (f)(iv) (bb) (cc) 226
10.08 10.08 (a) (i) (ii) (b) 227
10.07(1) (a) (b) (a) 10.07(2) (3) (1) 10.07(2)(2) (2) 10.07(2) (3)(1) (2) (a) (i)(ii) (a) 228
155 8.08 (b) 229
(c) (a) (b) (i) 10.07(2) (2) BVI (ii) (i) (i) 230
30 18,750,00015% 3% 2.37 1.872.86 35 3A.07 231
2.86 1.87 www.winox.com www.hkexnews.hk 232
2.86 1.87 2.86 1% 0.005% 0.003% 2,0005,777.66 2.86 1. 10% 2. 233
155 125,000,000 112,500,000 90% 12,500,000 10% 112,500,000 90% 1%0.003% 0.005% 234
30 18,750,000 15% 25% 27.7% 2.37 2.86 1.87 261.1 43.1 235
1 1 12,500,000 10% 1% 0.003% 0.005% 6,250,000 5 5 236
100% 100%6,250,000 (a) 1550 25,000,000 37,500,000 30% (b) 50100 37,500,000 50,000,000 40% 237
(c) 100 50,000,0000 62,500,000 50% (d) 18,750,000 15% 238
30 239
18,750,000 10.07(3) 10.07(1) (i) (ii) 240
iiieipo eipoiii eipo S S eipowww.hkeipo.hk eipo eipo 241
1 1 eipo eipo eipo eipo 1 1 242
16 18 25 8 2 27 183 45 71 19 8 36 3609 88 213 1308 243
29 12 B1-11 40-50 293-301 A 71-85 71 238 1 1 37-39 166-174 3 2 42-44 150-160 199 2 244
(a) (b) (c) (d) (a) (b) (i) (ii) (c) (i) (ii) 245
(d) (i) (ii) eipo (a) eipowww.hkeipo.hk eipo eipo eipo (b) eipo www.hkeipo.hk eipo 246
(c) eipoeipo eipo eipo (d) eipo eipo www.hkeipo.hk (e) eipo eipo eipo (f) eipo2,000 2,000 www.hkeipo.hk (g) eipo eipo (h) www.hkeipo.hk eipo eipo www.hkeipo.hk 247
(i) eipoeipo eipo eipo eipo eipowww.hkeipo.hk www.hkeipo.hk www.hkeipo.hkeipo eipo eipo eipo www.hkeipo.hkeipo 248
2979 7888) https://ip.ccass.com 199 2 (i) 249
(ii) 250
40 251
2,000 2,000 252
40 40 (i)(ii) 253
eipo eipo eipo eipo eipo 254
eipo 100% eipo 2.86 1% 0.003% 0.005%2,000 5,777.66 255
2.86 256
eipo www.hkeipo.hkeipo 24 www.hkeipo.hkeipo (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1) 257
eipo eipo 258
40 259
100% www.winox.comwww.hkexnews.hk 260
eipo www.tricor.com.hk/ipo/result www.winox.com www.hkexnews.hk 3691 8488 261
eipo eipo 262
(i) (ii) (i) (ii) (iii) 1%0.005%0.003% 263
eipo www. hkeipo.hkeipo1,000,000 2826 1,000,000 28 26 eipo eipo 1,000,000 1,000,000 eipo 264
2,000 265
266
35/F, One Pacific Place 88 Queensway Hong Kong 22 *............. 100 100% *............. 880 100% 1 100%......... I-1
* BVI....... 1 100%....... 60,000,000 100%....... 1 100% 100% 50,000,000....... 50,000,000 100% 52,000,000......... 52,000,000 * I-2
........... 60,000,000 96%* * Good Effect Limited 4%Good Effect Limited................................... I-3
.......................... BVI 3.340 E1 E1 I-4
A. E................... 7 324,598 256,928 398,606............ (202,692) (157,356) (227,936)..................... 121,906 99,572 170,670................. 8 1,118 1,275 4,055................. 9 (8,464) (1,756) (1,254).......... (17,995) (12,588) (20,075)................. (23,346) (25,058) (35,010)................. (5,240)................. 10 (551) (2,981) (4,900)............... 11 72,668 58,464 108,246..................... 13 (11,169) (6,296) (17,267)................. 61,499 52,168 90,979.. 677 386 4,254........ 62,176 52,554 95,233 :.......... 59,553 52,168 90,979............ 1,946 61,499 52,168 90,979 :.......... 60,210 52,554 95,233............ 1,966 62,176 52,554 95,233........... 14 15.9 13.9 24.3 I-5
B. E....... 16 62,286 64,346 94,580.......... 17 7,017 6,867 6,970............ 18,687........ 2,133 453 7,443.......... 18 5,682 71,436 71,666 133,362................... 19 46,320 25,433 40,633.... 20 33,497 41,780 97,608...... 21 241........ 22 5,673 26,701 538........ 23 499 124........ 23 56,040 40,232 61,793 142,029 134,511 200,572.... 24 33,793 35,325 56,119............... 1,200............... 5,212 6,508 1,125........ 22 29,164 80...... 25 55,624 24,976............... 26 36,437 69,052 139,474.......... 27 134 134 56 160,364 136,075 197,974 I-6
E....... (18,335) (1,564) 2,598........ 53,101 70,102 135,960.......... 27 190 56.......... 28 5,418 5,608 56................. 47,493 70,046 135,960................... 29 1................... 47,493 70,046 135,959.... 47,493 70,046 135,960 I-7
C. E 29 a)......... 57,600 1 1,543 16,950 76,094 3,229 79,323... 657 657 20 677...................... 59,553 59,553 1,946 61,499............. 657 59,553 60,210 1,966 62,176 b............ 69 (391) (322) (1,508) (1,830) E 1................. (57,600) (30,889) (88,489) (3,687) (92,176)... 1 2,269 45,223 47,493 47,493... 386 386 386...................... 52,168 52,168 52,168............. 386 52,168 52,554 52,554............. 4,799 4,799 4,799.......................... (34,800) (34,800) (34,800)... 4,800 2,655 62,591 70,046 70,046... 4,254 4,254 4,254...................... 90,979 90,979 90,979............. 4,254 90,979 95,233 95,233...................... 1 1 1 c........ 2,400 (2,400).......................... (29,320) (29,320) (29,320)... 1 7,200 6,909 121,850 135,960 135,960 : (a) 12% (b) (c) 3% 97%100%1,830,000 1,508,000 1,508,0001,830,000322,000 20,000,000 20,000,0001.00 I-8
D........................ 72,668 58,464 108,246......................... (76) (600) (411)......................... 551 2,981 4,900.............................. 11,999 6,647 6,515................ 149 150 153......................... 2,870 -...... 3,070 1,379 27 E 18.... (39) E 18.. 111..... 91,231 69,021 119,502................... (36,972) 20,887 (14,228)........ 42,112 (7,898) (54,318)........ (27,538) 1,532 19,923................... 68,833 83,542 70,879.................... (2,204) (10,417) (18,223)........... (3,888)........... 66,629 73,125 48,768 I-9
...................... 76 600 411.. (2,133) (453) (7,443)....... (6,200)....... (18,687)....... (176) 375 124........... (7,585) (7,971) (32,975).. 18............. (5,673) (26,701) (538)............... 136 5,673 26,701.................. (44,079)................. (241) 241............. (59,434) (28,700) (38,366) I-10
...................... (551) (2,981) (4,900)............... (134) (134) (134)................... 36,437 38,015 84,840................... (4,714) (5,400) (15,919)................. (10,494) (30,648) (24,976)............... 1,829 19................... (29,103) (80).................... (1,830)............... 1... 4,799...................... (34,800) (28,120) E 1.................. (3,469).... 17,074 (60,233) 10,712.... 24,269 (15,808) 21,114..... 31,688 56,040 40,232................... 83 447............... 56,040 40,232 61,793 I-11
E. 1. 5 I-12
E............................ 16(iii) 162.......................... 4,070.................................... 2,003.............................. 22 27,335............... 67,995............................ 3,469 105,034.......................... 8,712.................................... 30 4,146 12,858......................................... 92,176 2........ 1 24..... 4 27..... 7 28..... 7 32..... 2 1.. 7 3 1.. 5 7.. 5 I-13
9.......... 7 10......... 7 11......... 7 12......... 7 13......... 7 12..... 6 4 14......... 3 19.................. 1 2 3 4 5 6 7 3. I-14
I-15
I-16
I-17
I-18
I-19
4. 5. 3 I-20
6. 3.. 94,772 108,587 156,733................. 153,238 128,968 195,589............... 324 190 56 153,562 129,158 195,645 18 27%44% 59% 88%86% 83% I-21
12%14% 13% 41%17% 5% 3% 3% 3% 3% 3%...................... 152 139 1.......................... (24) (349) I-22
%...... 32,013 32,013 32,013........ 55,624 55,624 55,624.......... 29,164 29,164 29,164............ 4.94 36,437 36,437 36,437............. 4.25 39 118 222 379 324 30.... 4,146 4,146 157,423 118 222 157,763 153,562...... 34,860 34,860 34,860........ 24,976 24,976 24,976.......... 80 80 80............ 5.15 69,052 69,052 69,052............. 4.25 39 118 65 222 190 129,007 118 65 129,190 129,158...... 56,115 56,115 56,115............ 3.06 139,474 139,474 139,474............. 4.25 39 26 65 56 195,628 26 195,654 195,645 I-23
24,024 3,961 8,958 36,943 42,707 8,893 25,455 77,055 49,219 22,474 75,720 147,413 25 25..... 50 (72) (195) I-24
7....................... 242,457 180,855 308,008.................. 76,763 67,480 69,500...................... 5,378 8,593 21,098 324,598 256,928 398,606...................... 255,013 216,017 284,568...................... 56,595 30,701 69,832....... 12,990 10,210 44,206 324,598 256,928 398,606 10% : A 1........................ 193,285 148,901 218,682 B 1........................ 51,990 24,884 3 50,673 C 2........................ 37,217 37,474 41,724 I-25
1 2 3 10% 70,908,000 71,297,000127,312,000 8.................. 76 600 411............. 39............. 911 474 2,732 34(i).......... 345.......................... 131 201 528 1,118 1,275 4,055 9....................... 2,870... 3,070 1,379 27................. 2,524 377 1,227 8,464 1,756 1,254 10.......... 528 2,958 4,877.................. 23 23 23 551 2,981 4,900 I-26
11. 12........... 372 372 1,451.. 4,359 4,015 5,143............... 71,697 66,288 87,399 76,428 70,675 93,993.................... 129 93 1,774........... 192,700 151,050 218,226.......................... 11,999 6,647 6,515............. 149 150 153.................. 402 402 627 12....................................... 360 360 1,434............................... 12 12 17 372 372 1,451............... 360 360 360............................... 12 12 12 372 372 372 I-27
..................................................... 464............................... 464........... 610............................... 5 615.............................................................................................................................. I-28
.................................................................... 372 372 1,451 1........... 3,003 2,714 1,916...................... 954 874 1,354......... 56 60 53 4,013 3,648 3,323 1,000,000.............. 5 4 3 1,000,0011,500,000.... 1 1 I-29
13..................... 5,751 11,714 11,098............... 6,169 5,751 11,714 17,267 28.............. 5,418 (5,418) 11,169 6,296 17,267 (i) 17.5% 16.5% 16.5% (ii) 63 25% [2007] 39 I-30
.............. 72,668 58,464 108,246 16.5%........... 11,990 9,647 17,861............. 820 1,136 1,218............. (610)............. 245............. (1,562) (6,798)............. (6,169)... 531 2,311 4,112........... 11,169 6,296 17,267 14. 15. 375,000,000 34,800,00029,320,000 I-31
16.............. 38,633 104,552 19,889 15,137 2,377 1,391 181,979.......................... 131 1,189 63 28 617 2,028.............................. 5,880 1,555 93 346 796 8,670.............................. (22,925) (2,669) (12,432) (1,419) (39,445) iii...................... (404) (404)....... 38,764 88,696 18,838 2,798 928 2,804 152,828.............................. 5,234 593 335 3,942 10,104.............................. (1,960) (1,960)....... 38,764 91,970 19,431 2,798 1,263 6,746 160,972.......................... 1,220 1,566 172 41 969 3,968.............................. 22,726 3,399 8 535 6,760 33,428.............................. 10,770 1,574 (12,344).............................. (47) (47)....... 50,754 117,836 22,955 2,806 1,839 2,131 198,321............. 4,893 81,245 14,454 13,199 868 114,659.......................... 390 97 11 3 501.......................... 1,233 6,832 3,409 266 259 11,999.......................... (22,780) (2,286) (10,741) (568) (36,375) iii...................... (242) (242)....... 6,516 65,394 15,588 2,724 320 90,542.......................... 1,248 3,903 1,324 19 153 6,647.......................... (563) (563)....... 7,764 68,734 16,912 2,743 473 96,626.......................... 328 248 35 9 620.......................... 1,469 4,277 556 19 194 6,515.......................... (20) (20)....... 9,561 73,259 17,483 2,762 676 103,741....... 32,248 23,302 3,250 74 608 2,804 62,286....... 31,000 23,236 2,519 55 790 6,746 64,346....... 41,193 44,577 5,472 44 1,163 2,131 94,580 i 32,248,000 31,000,00041,193,000 I-32
ii 321,000214,000107,000 iii 162,000 15,484,000.................................................. 3.33%............................................ 10% 25%...................................... 20%......................................... 20%.................................................. 20% 17.................. 6,797 7,168 7,018................... 520 261........... (149) (150) (153)........... 7,168 7,018 7,126........... 7,168 7,018 7,126................ 151 151 156.................... 7,017 6,867 6,970 7,168 7,018 7,126 I-33
18. 4,000,00031,000,000 (i) (ii) (iii) 744,0005,766,000 56,000 434,000 (iv) 5%3% 97,560 756,000 (i) (ii) (iii) 398,0003,081,000 346,0002,685,000 56,000434,000 5.00% I-34
.......................... 3,120......... 2,205......... 357 5,682 19. 39,000 111,000 384,000 62,000........................ 16,720 8,584 9,563........................ 18,413 13,544 30,647........................ 11,187 3,305 423 46,320 25,433 40,633 20.................. 32,230 41,046 89,667............... 334 340 3,324..... 151 151 156............... 452 2,846.......................... 330 243 1,615 33,497 41,780 97,608 I-35
3090 0 30....................... 14,182 23,456 46,182 31 60.................... 6,993 6,577 42,866 61 90.................... 9,014 5,094 446 90...................... 2,041 5,919 173 32,230 41,046 89,667 12,784,00015,593,00041,839,000 60.................... 12,259 9,673 41,666 61 90.................... 4,248 90...................... 525 1,672 173 12,784 15,593 41,839 6.......................... 8,118 11,438 11,069 21. 241,000241,000 I-36
22. i a) i....... 5,673 i........... 1,701 ii........... 10,000 i......... 15,000 i......................... 538 5,673 26,701 538 b) i....... 5,673 5,673 i........... 1,701 1,701 ii........... 10,000 10,000 i......... 15,000 15,000 i......................... 538 5,673 32,374 27,239 (ii) iii.......................... 27,335 iv........... 1,829 80 29,164 80 i. ii. iii. 127,335,000 iv. I-37
23. 0.01% 0.75%0.01% 0.36% 0.01% 0.36% 499,000124,000.......................... 814 13,304.......................... 18,232 11,746 9,387 24.................. 18,802 12,261 27,116........... 8,451 11,654 16,807...................... 1,780 3 4... 4,430 8,742 8,338............. 1,355 2,651................. 462.......................... 330 848 1,203 33,793 35,325 56,119 3090 0 30....................... 4,643 4,911 9,177 31 60.................... 4,295 4,090 10,112 61 90.................... 3,595 1,560 4,133 90...................... 6,269 1,700 3,694 18,802 12,261 27,116 I-38
.......................... 2,452 771 793...................... 6,079 5,540 54 25. 26....................... 36,437 69,052 139,474........................ 22,687 39,702 119,174........................ 13,750 29,350 20,300 36,437 69,052 139,474..... 27,687 50,902 69,739..... 8,750 18,150 69,735 36,437 69,052 139,474........................ 27,687 50,902 69,739....... 5,000 3,750 24,785......... 3,750 14,400 44,950 36,437 69,052 139,474 1.751.00 1.002.752.75 2.137.60 2.13 7.30 1.157.80 I-39
2,000,0009,600,000 2,000,000 27........ 157 157 65 134 134 56.... 157 65 134 56.... 65 56 379 222 65 324 190 56.... 55 32 9..... 324 190 56 324 190 56......... (134) (134) (56)... 190 56 4.25 28....................................................................... 5,418........................... 5,418..................................... (5,418).......................... 980,000 I-40
48,0001,408,0003,567,000 29. 50,000 50,000 1 118 96% BVI 30. 4,146,000 31......................... 402 2,404... 5,211...................... 6,393 402 14,008 I-41
32........ 9,903 2,770 6,517............. 2,708 9,903 2,770 9,225 33. 5% 1,000 34. (i)... 345................ 402 402...... 346 289 262............ 1,071 1,086 1,181 I-42
(ii) 12 (iii) (iv) 26 30 35............................................ 57............................. 20..................................... 10 87............................. 5,417.......................................................................................................................................................................................... 5,330 5,330 5,330 1................................... 50,000 50....... 1.................. I-43
F. G. (i) (ii) 8,800,000 10 (iii) (iv) 43,793,000 H. I-44
4.29 (i) (ii) A. 1 2 3 1.87.............. 135,960 205,690 341,650 0.68 2.86.............. 135,960 325,727 461,687 0.92 (1) II-1
(2) 1.87 2.86 (3) 500,000,000 (4) 13,706,000 81,318,000 54,752,00026,566,000 762,000 (5) B. 1)................. 110 2)....................... 0.22 (1) (2) 500,000,000 II-2
C. 125,000,000 0.1 II-1 II-2 4 29 7 429(7) 300 II-3
429(1) a) b) c) 429(1) II-4
A. III-1
B. (i) 35/F, One Pacific Place 88 Queensway Hong Kong E 3 III-2
(ii) 16-18 25 A III-3
1 16 IV-1
1 2 5 12 IV-2
IV-3
148 18 IV-4
1. 1 49,214,000 100% 49,214,000 13,706,000 2. B B1 250125022901 29023001 3002 6,200,000 100% 6,200,000 55,414,000 IV-5
3. 4. 5. 148 18 6. 610 1 2B2C 3 IV-6
1. 1 59,009.14 15 32,216.87 49,214,000 1 14,163.30 (1) C.................................... 2 4,490.00* D2................................... 4 5,748.30* K1................................... 1 794.00 L.................................. 2 490.00* M.................................. 3 725.00 P..................................... 1 1,156.00 N.................................... 1 230.00 S..................................... 1 530.00 14,163.30 IV-7
* 10,728.30 C D2 L 13,706,000 (2) 2003162 59,009.14 (3) 32,216.87 2000099833................... A 2 4,854.45 2000099835................... B 2 4,549.39 2000099834................... D1 3 8,401.68 2000099832................... 1 900.00 2000099827................... H 6 9,197.87 2000099821................... I 6 3,129.48 2000099836................... J 3 1,184.00 32,216.87 (4) 2000071512 20000998332000099835200009983420000998322000099827 2000099821 2000099836 (5) 441900400013533 40,000,000 (6) (i) 59,009.14 32,216.87 IV-8
(ii) (iii) (iv) (v) (vi) 32,216.87 32,216.87 32,216.87 C D2 L 14,163.30 6% (7)........................................................................................................................................................................................................................................................... IV-9
2. B B1 250125022901 29023001 3002 306 1,016.91 6,200,000 (1) 66 5,970,000 (2) 1,016.91 DJ00142874 2501 155.28 DJ00142876 2502 183.69 DJ00142878 2901 155.28 DJ00142875 2902 183.69 DJ00142877 3001 155.28 DJ00142879 3002 183.69 1,016.91 (3) 20119008 13,942 IV-10
(4) 441300400034912 52,000,000 (5) (i) (ii) (iii) 1,016.91 (6)................................................................................... IV-11
3. 697,666.67 1,046.50 (2) (1) 2009/12(18) 697,666.671,046.5 16,300,00014,000,000 (2) 118 522.50 35,400 41,800 20,000 IV-12
31 9,300 40 302 2 10,800 24,160 3,000 12 21 4,000 1,680 1,046.50 127,140 (3) (i (ii) (iii) (iv) 2009/12(18) 16,300,000 IV-13
(v) (vi) IV-14
4. 6,666 10 3,731.54 3,276 260 99.54 96 3,731.54 55,000 IV-15
(1) (i) (ii) (iii) IV-16
5. 148 18 29 18AB 718.41 (7,733) A 74,800.00 B 121,400.00 IV-17
6. 610 1 2B2C 3 121 537.07 (5,781) 33,500 IV-18
22 3 1. (a) 27(2) (b) 2. (a) (i) V-1
(ii) (iii) (iv) V-2
(v) V-3
(aa) (bb) (cc) (dd) (ee) 5% (ff) V-4
(vi) V-5
(vii) (aa) (bb) (cc) (6) V-6
(dd) (ee) (ff) (viii) (ix) V-7
(x) (30) (b) (c) (i) (ii) (iii) (iv) (v) V-8
(d) (e) (21)(10) (95% (21)(10) (15) V-9
(f) (g) (15)(18) V-10
(h) (21) V-11
(i) (21)(20) (e) (21)(10) (14)(10) (i) (ii) (95%) (aa) (bb) (cc) (dd) (ee) V-12
(ff) (20% (gg) (j) V-13
(30) (k) (l) (m) V-14
(i) (ii) (a) (b) V-15
(n) (o) (20) (14) V-16
(20) (p) (2) 2.50 1.00 (q) V-17
(r) 3(f) (s) (i) (ii) (t) (i) 12(ii) 12 (iii) (3) V-18
(u) 3. (a) (b) (a) (b) V-19
(c)37(d)(e) (f) (c) V-20
(d) V-21
(e) 34 34 2(m) (f) (a)(b) (c) (a) (b) (c) (d) V-22
(g) (h) (i)(ii) (iii) (i) (j) 6 (1) (2) V-23
(k) (l) (m) (n) V-24
(Insolvency Practitioners Regulations) (28) (21) V-25
(o) (75% (p) (4) (90% (4)(2) (1) (q) 4. Conyers Dill & Pearman V-26
A. 1. 148 18 XI 2. 50,000 50,000 1.001 1 (a) 400,000,000 4,000,000,000 0.10 78 (b) 7.80 11.0050,000 1.00 (c) (i)bvi 7657520 20 (ii) BVI 12%76.5%7.5%2% 2% 802 1 VI-1
(d) 7,200,00012% 1 119 (e) 37,499,900 374,999,000 329,999,120 44,999,880 3. (a) (b) (i) (ii) (iii) (i) (ii) (iii) VI-2
(c) 20% (d) 10% VI-3
(e) (d) (c) 4. (a) 78 7.80 1 (b) BVI 1 1.00 (c) 10.00 (d) (i) BVI765 752020 (ii) BVI 12%76.5%7.5%2% 2% VI-4
(a)802 BVI763 75 2020(b)1(c) 2 BVI (e) 7,200,000 12% 1119 (f) BVI 991.00 99.00 BVI40 BVI40% 5. (a) (b) BVI8791.00 12% 11.00 BVI8712 1.00 VI-5
59,990,000 1.00 10,000 60,000,000 35,191,2004,798,800 1.00 20,000,000 17,600,0002,400,0001.00 10 40 31.6534.65 39.65 10 50 41.65 50 50 20 30 45 2 52 52 6. (a) VI-6
(i) 10% (ii) (iii) 10% 30 25% VI-7
5% (iv) (v) (a) (b) (vi) 30 VI-8
(vii) (b) (c) 500,000,000 50,000,000(1) VI-9
(2) (3) 518,750,000 51,875,000 (d) 26 25% VI-10
B. 1. (a) (b)(g) 1,046.5 16,300,000 (b) 118522.5 (c) 31 (d) 40302 VI-11
(e) (f)(g) 513,999.09 (f) 21 (g) 12 (h) 155.28 870,000 (i) 183.63 1,060,000 (j) 155.28 910,000 VI-12
(k) 183.63 1,100,000 (l) 155.28 920,000 (m) 183.63 1,110,000 (n) BVI1 (o) 10 (p) BVI (i) 802 BVI 763 752020(ii) 1(iii) 2BVI (q) 12%(i)1 (ii)119 VI-13
(r) D. 2. (s) IV. (t) 2. (a) 1. 301306485 1435 2. 301306467 1435 3. 301306476 1435 4. 301306494 1435 5. 5980935 14 6. 5981218 14 7. 5981219 14 VI-14
1. 9344136 14 2. 9344137 40 3. 9344138 14 4. 9344226 40 5. 9344227 WINOX 40 6. 9344228 WINOX 14 (b) www.winox.com C. 1. XV XV78 VI-15
352 1) 2).......... L) 330,000,000 66% 3).......... L) 330,000,000 66% 4) 1. L 2. 3. BVI60% 86.93% 330,000,000 4. BVI40% BVI86.93% VI-16
( 1)...... BVI 60% 86.93% ( 2)...... BVI 40% 86.93% 1. BVI60% BVI86.93% 2. BVI40% BVI86.93% XV78 352 VI-17
2. XV23 1) 2) L) 330,000,000 66% L) 45,000,000 9% BVI (L) 330,000,000 66% 3 L) 45,000,000 9% 4 L) 45,000,000 9% 5 L) 45,000,000 9% 1. L 2. 3. 41.67% 4. 33.33% 5. VI-18
XV23 3. 10% 4. (a) VI-19
(b) (c) (i) (ii) (iii) (d) (i) (ii) 1.45 12 (iii) 4,711,100 VI-20
(iv) (i) (ii) (v) (vi) 5. (a) (b) 6. (a) VI-21
(b) (c) (d) (e) D. 1. (a) 17 (i) (ii) VI-22
(ii) (iii) 17 10%50,000,000 10% 30% 10% 10% 17 10% 17 30% VI-23
(iv) 1% 1% 1.01 (aa) 0.1% (bb) 5 VI-24
(aa) (bb) (v) (aa) (bb) (1)(2)(xii)(ff) VI-25
(cc) (xii) (ff) (12) (dd) (v)(ee) (ee) (ff) VI-26
(gg) (hh) (v)(dd)(v)(gg) (vi) (vii) (viii) 1.00 VI-27
(ix) (aa) (bb) (cc) (x) (xi) (xii) (aa) (bb) (v)(bb)(dd) (gg) VI-28
(cc) (v)(ee)(v)(ee) (dd) (v)(ff)(v)(ff) (ee) (ff) (gg) VI-29
(xiii) 17.03(13) (xiv) (iii) (xv) (xvi) VI-30
(xvii) (xviii) (b) 17.03 17 2. (a) 1 8 VI-31
(b) 3. 4. 5. 9,000 6. VI-32
7. 6 Conyers Dill & Pearman 8. D7 9. 44A 44B 10. (a) VI-33
(b) 1,000 1 11. (a) (i) (ii) (iii) (iv) (v) VI-34
(b) (i) (ii) (c) Codan Trust Company (Cayman) Limited (d) (e) (f) 32L 4 VI-35
(i) (ii)(iii) (iv) 1820 (a) (b) (c) (d) (e) (f) (g) Conyers Dill & Pearman (h) (i) VII-1
(j) (k) (l) (m) (n) VII-2