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CHINA SINGYES NEW MATERIALS HOLDINGS LIMITED (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l)

本文件為草擬本其所載資料並不完整及可作更改閱讀本文件有關資料時必須一併細閱本文件首頁警告一節重要提示閣下如對本文件的任何有任何疑問應諮詢獨立專業意見 CHINA SINGYES NEW MATERIALS HOLDINGS LIMITED 中國興業新材料控股有限公司於百慕達註冊成立的有限公司以編纂方式於香港聯合交易所有限公司創業板編纂編纂編纂編纂每股編纂編纂港元另加 1% 經紀佣金 0.0027% 證監會交易徵費及 0.005% 聯交所交易費須於申請時繳足可予退還面值每股編纂港元股份代號獨家保薦人編纂編纂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文件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概不就因本文件的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文件連同本文件附錄五送呈編纂及備查文件一節所列的文件已遵照香港法例第 32 章公司清盤及雜項條文條例第 342C 條的規定送呈編纂登記編纂以及香港證券及期貨事務監察委員會對本文件或上述任何其他文件的內容概不負責編纂作出任何投資決定前應審慎考慮本文件所載全部資料包括但不限於本文件風險因素一節所載的風險因素編纂的編纂謹請注意倘於編纂上午八時正香港時間前任何時間發生本文件編纂一節終止理由一段所載任何事件編纂為其本身及代表編纂有權發出書面通知編纂為其本身及代表編纂終止編纂根據編纂須履行的責任如編纂為其本身及代表編纂終止編纂全球編纂將不會進行並告失效二零一六年九月十五日

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... 59... 69... 81... 89... 160... 173... 183... 186... 188... 192... 236... 246... 252... 257... I-1... II-1... III-1... IV-1... V-1 v

(i) (ii) ITO ITO PDLC ITO 2.1% 20.4% 51.2% ITO 1

% % % % ITO 18,159 40.5 0.1 18,354 30.4 0.1 9,569 42.6 0.1 6,536 19.7 0.1 7,200 16.1 1.0 18,621 30.8 0.7 6,452 28.7 0.9 9,328 28.1 0.7 18,566 41.4 1.7 8,360 13.8 1.3 5,551 24.7 1.4 9,682 29.2 1.3 13,621 22.5 61.9 5,288 16.0 43.0 880 2.0 1,521 2.5 875 4.0 2,317 7.0 44,805 100 60,477 100 22,447 100 33,151 100 11 (i) ITO (ii) (iii) 43.3% 33.0% 50.4% % % % % 44,320 98.9 59,829 98.9 22,193 98.9 32,560 98.2 485 1.1 648 1.1 254 1.1 591 1.8 44,805 100 60,477 100 22,447 100 33,151 100 2

25,700,000 30,900,00015,000,000 84.3% 84.6% 76.3% PET ITO PDLC (i)24,600,000 16,100,000 10,100,000 69.0% 59.7% 59.6%(ii) 11,800,000 7,000,000 4,100,000 33.2% 25.9% 24.5% 9 71 2 5,740 ITO 203,372 307,847 310,636 193,800 223,000 115,000 95.3% 72.4% 37.0% 449,176 584,471 292,336 36,900 32,800 18,500 8.2% 5.6% 6.3% 46,000 46,000 23,000 12,400 7,600 8,570 27.0% 16.5% 37.3% 3

14 (i) (ii)(iii) (iv)13 4 (v) ITO (i) (ii) - ITO 2,100 ITO - 4

44,805 60,477 22,447 33,151 (30,524) (36,581) (15,877) (19,675) 14,281 23,896 6,570 13,467 14 1,089 803 648 (5,211) (5,633) (2,551) (3,776) (6,758) (7,771) (3,671) (9,660) (1,518) (1,968) (3) (946) (106) (205) (152) 702 9,408 996 (258) (313) (1,712) (401) (938) 389 7,696 595 (1,196) 38,223 46,203 43,135 50,334 43,550 60,801 (37,778) (31,269) (32,883) (857) 12,556 12,281 27,918 50,779 58,484 70,196 5

9,718 20,232 (16,405) (12,738) (5,368) (11,212) (10,072) 1,450 (2,592) (4,525) 27,554 17,351 1,758 4,495 1,077 6,063 904 2,662 2,662 7,166 2,662 7,166 3,750 13,242 % % % % % % % % ITO 3,115 21.8 17.2 3,663 15.3 20.0 1,758 26.7 18.4 1,489 11.0 22.8 3,993 28.0 55.5 9,685 40.5 52.0 3,310 50.4 51.3 5,220 38.8 56.0 7,282 51.0 39.2 2,271 9.5 27.2 1,547 23.6 27.9 2,805 20.8 29.0 7,907 33.1 58.1 3,232 24.0 61.1 (109) (0.8) (12.4) 370 1.6 24.3 (45) (0.7) (5.1) 730 5.4 31.5 14,281 100 31.9 23,896 100 39.5 6,570 100 29.3 13,476 100 40.7 (%) 0.9 12.7 16.0 1 (%) 31.9 39.5 40.7 (%) 0.8 13.2 15.1 2 (%) 0.4 8.6 10.2 3 7.6 46.9 1.3 1.4 1.8 (%) 40.4 28.5 21.1 195.7 160.1 156.3 76.2 106.6 104.0 6

1. 6,500,000 5,300,000 2. 6,500,000 3. 6,500,000 22,300,000 25,900,000 (i) 7,900,000 9,100,000 (ii)14,400,000 16,800,000 (a) 6,500,000 7,600,000 (b) 7,900,000 9,200,000 (i) (ii) (iii) % % % 7

(iv) (v) % % Strong Eagle Top Access 30% Raton Race Investments Limited Raton Race Investments Limited 8

ITO 9

ITO (i) (ii) (iii) 11,400 ITO 2,600 6,400 2 11,000,000 2,600,000 7.9% 1,600,000 19.3% 10

622 32 16 Strong Eagle Top Access 12

[*] 14

1% 0.0027% 0.005% 15

571 00750 17

1 6 Strong Eagle Strong Eagle Holdings Limited 53.0% 15.0% 11.0% 8.0% 9.0% 4.0% Top Access Top Access Management Limited 18

% * * 19

AB AC UV EVA EN 14582:2007 20

GB/T11944-2012 GB15763.3-2009 GB8621 GPS ISO 21

ISO 9001 ISO9050:2003 ISO10292:1994 ITO ITO ITO ITO ITO JC/T 2129-2012 LCD LED 22

1/299,792,458 100 ITO PET OHSAS 18000 PDLC PET PVB RoHS 23

PDLC UV 10 380 X ITO ITO 24

(i)(ii) (iii)(iv) (v) ITO ITO ITO 350 50% ITO 2.1% ITO ITO PET 27

(i) (ii) (iii) (i) (ii) (iii) ITO PETPDLC 84.3% 84.6% 76.3% 28

13 4 ITO 29

ITO 30

(i) (ii) (iii)(iv) 31

ITO ITO 9712 32

95% 69.0% 59.7% 59.6% 33.2% 25.9% 24.5% 33

(i) 0.05%(ii) 15%25% 34

ITO ITO ITO ITO 18,200,000 18,400,000 6,500,000 40.5% 30.4% 19.7% ITO ITO 36

ITO ITO LCD LED 10.6% 6.9% 37

20 39

25% 82 82 10% 82 82 (1) (2) 40

(3) (4)50% 82 25% 19 19 41

22,300,000 25,900,000 (i) 42

7,900,000 9,100,000 (ii)14,400,000 16,800,000 6,500,000 7,600,000 7,900,000 9,200,000 ( ) 43

% (i) (ii)(iii)(iv) 44

Raton Race 45

15 (i) (ii) ITO (a) (b) (c) 52

(d) (e) (i) (ii) (iii) 53

177 2 2 901 233 6 2703 88 15-1-1501 17 1 2203 123 18 12A 54

38 1 16 B 1650 18 9 902 40 203 88 8 802-805 10 18 1803 968 23-25 55

8 29 77 3 34 100025 1 22 56

Clarendon House 2 Church Street Hamilton HM11 Bermuda 9 7 1 2 168-200 31 3108 www.syeamt.com 16 35 57

400 88 8 802-805 58

ITO 350,000 ITO (ITO) ITO 59

ITO 854,500,000 12.9%70% ITO LCD ITO ITO 1,918,700,000 18.1% ITO 2,000 1,918.7 1,600 +18.1% 1,591.5 1,338.6 1,200 800 400 465.6 514.3 +12.9% 655.6 580.1 743.8 854.5 985.1 1,141.7 0 ITO ITO (i)petito 60-70%(ii) ITO PET ITO PET 100 80 79.0 78.1 77.5 78.0 82.5 83.9 80.1 81.4 83.1 82.0 89.1 92.2 91.4 88.0 86.9 85.2 83.1 79.1 72.4 60 67.1 59.4 58.5 58.9 56.2 40 20 0 60

3,200 3,100 3,000 3,102.7 3,095.3 3,107.4 3,095.4 3,101.6 3,081.4 3,092.2 3,082.2 3,075.5 3,066.1 3,114.3 3,050.1 3,050.1 3,107.4 3,095.6 3,101.6 3,101.6 3,104.6 3,082.2 3,075.5 3,066.1 3,054.7 3,050.1 3,048.3 2,900 100 0 PET 92.2 PET PET ITO 3,000 3,120 ITO ITO ITO ITO 145.4 115.6 ITO 200 ITO 150 100 145.4 142.3 138.3 133.2 126.2 115.6 109.7 104.2 98.8 94.2 90.1 50 0 61

ITO 81.5% 83.9% 2.4%2.1% 16.1% 1.5% 2.1% 1.3% 2.9% 3.6% 7.5% 11.1% 13.4% 22.9% 17.6% A B C D E F G H I ITO (i) 19.5% ITO 6.8% 8.9% ITO ITO (ii) ITO (iii) ITO (iv) 350 50 62

(v) ITO (vi) ITO ITO ITO (i) (ii) ITO (iii) ITO ITO ITO (i) (ii) ITO ITO PET ITO ITO ITO 7.7% 90,400,000 131,200,000 15.7% 252,300,000 63

64 252.3 208.9 177.9 155.8 140.6 131.2 128.3 117.1 107.2 98.3 90.4 300 250 200 150 100 50 0 +15.7% +7.7% ITO PET ITO PET ITO 12.8 13.7 13.8 14.9 15.0 15.6 16.2 16.3 17.2 17.3 18.3 19.0 18.5 17.0 17.2 17.7 17.9 18.2 18.4 19.0 19.4 20.0 20.1 20.2 0 10 20 30 5 5,750.2 5,750.2 5,847.6 5,847.6 6,000.2 6,054.8 6,103.4 6,189.4 6,250.4 6,283.6 6,333.8 6,429.4 6,517.7 6,572.8 6,689.2 6,689.2 6,754.4 6,803.2 6,830.4 6,830.4 6,977.2 6,977.2 7,005.5 7,001.2 6,000 0 9,000 3,000

PDLC PDLC 1,624.6 1,193.0 2,000 1,600 1,200 1,624.6 1,537.7 1,453.9 1,381.1 1,290.6 1,193.0 1,109.4 1,020.2 946.4 889.4 854.7 800 400 0 82.0% 80.0% 20.1%20.4% 20.0% 20.4% 12.2% 17.2% A B C D 14.5% 15.7% 65

(i) (ii) (iii) (iv) ITO (i) (ii) PDLC ITO 66

(i) (ii) 37.6%26,600,000 26,500 20,500 69,700 84.7%51.2% 67

15.3% 33.5% 51.2% 26,600,000 162,400,000 46.6%(i) (ii) (iii) (i) (ii)ito 68

(i) (ii) 69

30 2015 70

(a) (b) (c) (d) 10% 50% 10% 5% 20% 20% 10% 5%25% 71

75 75 75 (a) (b) (c) 30 75 75 72

37 37 75 37 37 37 37 (a) (b) (c) 37 37 37 37 75 Strong Eagle 37 73

25% 10% 15 2009 203 15% 17% 17% 74

(i) (ii) (iii) (iv) 75

(a) (b) (c) 77

ITO 90 HS 78

(i) (ii) 79

6,000,000 4,000,000 60% 6,000,000 4,000,000 40% ITO ITO (i) (ii)(iii) ITO ITO 81

ITO ITO 1,300 ITO 1,600 2,000 2,100 ITO 82

(i) %(ii) Raton Race Investments LtdRaton Race % Raton Race % % 83

Raton Race (i) (ii) (iii) Raton RaceRaton Race Raton Race Raton Race (i) (ii) (iii) 28 HKEx-GL29-12 HKEx-GL43-12 84

Top Access 20,000,000 60.0% 40.0%6,000,000 4,000,000 60.0% 12,000,000 6,000,0004,000,000 20,000,000 85

40.0% 8,000,000 20,000,000 50,000,000 30,000,000 50,000,000 55,161,300 125,000,000 50,000,000 50,000,000 62,500,00012,500,000 61,094,670 ITO 00750 (i) (ii) (iii) 86

63.5% 53.0% Strong Eagle 100% Top Access 100% 100% 87

Strong Eagle 63.5% 53.0% Strong Eagle 0.9% 100% Top Access 100% 100% * 88

ITO ITO (i) (ii) (iii) ITO ITO ITO 9 (2.4%) 8 (2.1%) 2 (20.1%) 1 (20.4%) 1 (51.2%) 9 712 5,740 (i)ito GPS (ii) (iii) 89

44,800,00060,500,000 22,400,000 33,200,000 35.0% 47.7% 389,0007,700,000 1,200,000 31.9% 39.5% 29.3% 40.7% ITO ITO ITO (i) ITO ITO (ii) ITO (iii) ITO (iv)ito ITO 2,100 ITO ITO ITO ITO ITO 90

ITO ITO ITO ITO (i) (ii) (iii) 91

ISO 9001: 2008 (i) (ii) 92

(i) (ii) (iii) 93

ITO 5.5% LED 15% 25% 94

(i) GPS ITO (ii) ITO PDLC ITO ITO ITO 95

ITO % % % % ITO 18,159 40.5 18,354 30.4 9,569 42.6 6,536 19.7 7,200 16.1 18,621 30.8 6,452 28.7 9,328 28.1 18,566 41.4 8,360 13.8 5,551 24.7 9,682 29.2 13,621 22.5 5,288 16.0 880 2.0 1,521 875 4.0 2,317 7.0 44,805 100 60,477 100 22,447 100 33,151 100 96

% % % % ITO 3,115 21.8 3,663 15.3 1,758 26.7 1,489 11.0 3,993 28.0 9,685 40.5 3,310 50.4 5,220 38.8 7,282 51.0 2,271 9.5 1,547 23.6 2,805 20.8 7,907 33.1 3,232 24.0 (109) (0.8) 370 1.6 (45) (0.7) 730 5.4 14,281 100 23,896 100 6,570 100 13,476 100 (i)ito (ii)(iii) (iv) ITO ITO LED ITO (SiO2) PET ITO ITO LCD 97

ITO ITO ITO ITO 2,100 ITO 2 ITO ITO (i)ito ITO (ii) ITO 138,529 162,138 60,386 ITO 131113 108 ITO ITO PDLC PDLC PDLC PDLC 98

PET V AC ITO V AC >76% >50% <10% >95% -20 70 <35 <85% 60V (AC, 50/60 Hz) <5 >160 79.5% <45 >50,000 >80,000,000 <35 > B2 II-1 GB18910.5-2008 GB15763.3-2009 GB15763.3-2009 GB15763.3-2009 GB15763.3-2009 (i)ito PDLC (ii) (iii)ito 99

ITO 6,984 24,500 13,821 1,031 760 675 100

(i) (ii) UVAB 101

PVB/EVA (i) 8 (ii) 50,000 102

(iii) (iv) (a) 35 (b) 98% (v) 11,062 6,220 7,427 1,678 1,344 1,304 (i) 103

(ii) (iii) 104

105

LED LED LED LED LED LED 220 123 61,914 42,992 106

9 712 5,740 ISO:9000 ITO 1,700,000 24,200,000 404,000 107

50,000 ITO ITO 52 12,651,634.5 68 ITO 7 19,023,920.9 113 54 1,429,097.5 66 (AHU) 10 490,087.2 50 32 1,433,436.2 88 24 332,635.0 96 6 529,222.2 114 36 253,611.4 84 11 259,864.6 49 34 181,287 86 5 10 108

ITO ITO 2,100 ITO 1,300ITO ITO ITO SEM 24 7 ITO PET ITO ITO PET 109

ITO 1,300 ITO 2,100ITO ITO 203,372 307,847 310,636 1 2 2 193,800 223,000 115,000 (%)3 95.3% 72.4% 37.0% 1 (i)11.525 24 6,900(ii) 1,250ITO 42.41 29.47 2 2,100ITO 1,250 2,400 ITOITO (i) 11,300ITO (ii)2,100 ITO (a)11.525 24 6,900(b) 251,250 ITO 162,400 ITO 50% 60.56 3 ITO 110

2,100 ITO ITO (i)1,600 (ii)2,000 ITO PDLC 111

1,600 2,000 449,176 584,471 292,236 1 2 36,900 32,800 18,500 (%)3 8.2% 5.6% 6.3% 1 2,000 (i)1,600 (ii)2,000(a) 11.525 14 4,025(b)1,600 20 1,129.4 63.25 2,000 20 1,411.8 79.06 2 3 PVB/EVA 10 5 6 112

PVB 113

1 46,000 46,000 23,000 12,400 7,600 8,570 (%)2 27% 16.5% 37.3% 1 PVB (i)11.5 25 10 2,875(ii) 4,000 2 114

(i)(ii) 115

PET ITO PVB 116

(i) (ii) (iii) (iv) 117

11 10 ISO (i) (ii) 2002/95/EC (iii) 2011/65/EU 118

ISO9001 2008 W-15803-2016-M1 ISO9050:2003 ISO10292:1994 W-15803-2016-M3 ISO9050:2003 ISO10292:1994 WT2016E09A00425 JC/T2129-2012 SGS CANEC1611658302 ITO RoHS 2011/65/EU SGS CANEC1611658304 ITO EN 14582:2007 SGS CANEC1609128904 RoHS 2011/65/EU SGS CANEC1609128906 A01 EN 14582:2007 2015011302821761 GB/T11944-2012 W-150803-2015-M1 ISO9050:2003 ISO10292:1994 00114Q27165R1M/4400 ITO ISO9001:2008 GB/T19001-2008 119

W-15803-2015-Z11 ISO9050:2003 ISO10292:1994 SGS SDHG1507010976FB GB8621-2012 2015011302821761 GB/T11944-2012 GB15763.3-2009 2012011302584162 GB15763.3-2009 2013011302631046 GB15763.3-2009 2013011302631046 GB15763.3-2009 1.92 2014011302714588 GB15763.3-2009 2.68 PVB 2014011302714587 GB15763.3-2009 3.44 PVB F2014(62)0208440400030 TOSSEAL83 GB/T 14683-2003 * 120

84.3% 84.6% 76.3% PET ITO PDLC (%) 1 A PET 3.3 33.2 2 B ITO 2.3 17.6 3 C (TFT) (STN) (TN) PDLC 4.6 7.3 4 D ITO PET 3.7 6.2 5 E * ITO 3.3 4.7 121

(%) 1 A PET 3.3 2 F 0.8 12.8 3 D 3.7 9.4 4 C PDLC 4.6 6.3 5 G (i) (ii) (iii) LCD PET 2.1 5.3 (%) 1 D 3.7 24.5 2 H 0.3 10.4 3 I PET 0.6 10.3 4 F 0.8 9.3 5 J 0.3 5.1 122

(i)24,600,000 16,100,000 10,100,000 69.0% 59.7% 59.6%(ii) 11,800,000 7,000,000 4,100,000 33.2% 25.9% 24.5% 5% PET PET (i) (ii) 123

(iii) (iv) (a) (b) (v) (vi) 60 ITO 124

ITO ITO (%) 1 A ITO 4. 8 16.1 2 B 2.8 9.0 3 C ITO 5. 0 7.6 125

(%) 4 D ITO 4.3 6.5 5 E PDLC 3.3 4.1 (%) 1 F 1.7 8.9 2 G 0.8 7.8 3 C ITO 5.0 7.3 4 H ITO 3.3 4.6 126

(%) 5 I 0.8 4.4 (%) 1 J 0.4 12.0 2 K 0.3 10.7 3 L 0.3 10.6 4 C ITO 5.0 10.5 5 M 1.3 6.6 H E H E HITO 2,800,000 4.6% EITO 1,700,000 4.7% E 127

H 118.2 2,793.6 71.0 1,514.3 H 47.2 1,279.2 19,400,000 19,900,000 16,700,000 43.3% 33.0% 50.4% 7,200,000 5,400,000 4,000,000 16.1% 8.9% 12.0% 5% % % % % 44,194 98.6 59,987 99.2 22,195 98.9 32,905 99.3 611 1.4 490 0.8 252 1.1 246 0.7 44,805 100.0 60,477 100.0 22,447 100.0 33,151 100.0 128

% % % % 44,320 98.9 59,829 98.9 22,193 98.9 32,560 98.2 485 1.1 648 1.1 254 1.1 591 1.8 44,805 100 60,477 100 22,447 100 33,151 100 (i) 129

(ii) (iii) (iv) (v) 30 60 (vi) 130

18 131

132

5% 33(i)ITO (ii)(iii) (i) 133

(ii) (i) (ii) (iii) (iii) (i) 134

(ii) (iii) (iv) (v) (i) (ii) (iii) 135

(i) 136

(ii) (iii) 137

ITO 10 15 1 8 11 2 0 0 ITO 138

a) b) c) 13,600,000 8,600,0009,200,000 111.0 110.9 81.7 (i) (ii) (iii) 139

(iv) (v) (vi) (vii) ITO 15 1 2 3 4 140

5 6 7 ITO 8 9 ITO 10 11 ITO 12 13 14 (i) (ii) (iii) ITO ITO (iv) ITO (v) 141

(i) PDLC PDLC ITO 95%76% 50,000 (ii) (iii) 1 2014(1) 2 2014(2): 243-243 3 ITO Silicon Valley 1671-7597 (2012) 1220143-02 142

(iv) (v) (20152253-T-609) (Q/SYE 2-2016) (Q/SYE 3-2014*) Q/SYE 1-2014-Q/SYE 1-2011 (JC/T 2129-2012) (Q/SYE2-2013) 143

(vi) 600,000 887,600 166,300 95,100 800,000 (vii) ITO ITO 144

1,600,000 2,000,000 904,000 23.7% 25.5% 9.4% (i) (ii) ITO 2012 145

ITO ITO 9 (2.4%) 8 (2.1%) 2 (20.1%) 1 (20.4%) 1 (51.2%) ITO ITO ITO 83.9% ITO 80% 146

84.7% ITO ITO 147

109111 103 3 2.7% 34 30.63% 10 9.0% 13 11.7% 2 1.8% 37 33.3% 5 4.5% 3 2.7% 4 3.6% 111 1 0 0 % 148

149

(ERP) 13 4 ITO www.syeamt.com 150

1 ITO 2 PDLC 3 4 (i) (ii) (iii) (iv) (v) (vi) (vii) 151

(i) (ii) (iii) (iv) (v) (i) (ii) (iii) (iv) 152

(i) 24 (ii)30 (i) (ii) 5,740 1. 9 5,740 86,100 71 2 153

1% 15% 8.01A 8.01B 342(1) 34(2) 154

897,000 (i) 0.05% 13(ii) 120,000 155

(i) (ii) (i) (ii) (iii) 156

(i) (ii) (iii) (iv) (v) (vi) 5.28 (vii) 157

(viii) IT 5.01 5.02 11.06 158

(i) (ii) - (iii) (iv) 159

52 50 44 49 52 48 40 56 160

52 21 12 ; Top Access; Singyes Green Investment (HK) Company Limited; Singyes Engineering (HK) Company Limited; Sun Treasure Group; Singyes Green Energy Holdings Limited; Basic Force Group Limited; Singyes Green Energy Investment Limited; 52 161

21 12 ITO ; Top Access; Singyes Green Investment (HK) Company Limited; Singyes Engineering (HK) Company Limited; Sun Treasure Group Corp.; Singyes Green Energy Holdings Limited; Basic Force Group Limited; 50 14 162

44 1 14 1 49 163

25 14 30 48 23 Bright & Shine Corporate Finance Limited Macquarie University 164

01164 01538 08292 08238 40 14 56 23 165

17.50(2) (i) (ii) XV (iii) (iv)(v) (vi) 17.50(2)(h) (v) 41 49 33 41 20 166

49 15 33 10 (i) (ii)(iii) 29 6 167

228,000 22,000 5.28 5.29 15C3.3 C3.7 168

5.34 5.35 15B1.2 A5.2 6A.19 6A.23 169

1. 2. 3. 4. 17.11 18.03 (i) (ii) 6A.26 30 103 170

34 46 33 13 13 10 9 11 13 8 4 4 15 4 2 22 24 32 1 2 3 4 4 3 3 3 3 171

172

Top Access % Top Access (i) 00750 i) (ii) (ii) Top Access Strong Eagle36.6 %Strong Eagle 53.0% 15.0% 11.0% 8.0% 9.0% 4.0% Strong Eagle Top Access 173

(i) ITO (ii) (a)ito (b) (c) (iii) ITO 174

(i) 175

(ii) (iii) (iv) (i) (ii) (iii) 176

(iv) 20 20 (v) (vi) 5,000,000 5,000,000 18,200,000 33,200,000 4,500,000 177

3,000,000 100,000,000 110,000,000 110,000,000 178

(a) 30% (b) (i) (ii) (a) (b) (c) 179

(iii) (a) (b) / 30 60 (iv) (a) (b) (c) 180

(i)(ii) 181

(a) 20 (b) (c) (d) (e) 11.04 182

20 (1) 311 (i) (ii) 400,333 573,398 150,330 420,000 930,000 1,200,000 183

(i)(ii) 20 53,000,000 20 (2) (i) 97 5,740 15 (ii) (i)(ii) 184

86,100 86,100 516,600 [1,033,200] [1,033,200] 205 3,000,000 20 185

XV23 10% Top Access 1 Strong Eagle 2 3 1. Top AccessXV Top Access 2. Strong Eagle XVStrong Eagle Top Access 3. Strong Eagle 53.0% 15.0% 11.0% 8.0% 9.0% 4.0% XVStrong Eagle 186

XV 2 3 10% 187

188

11.23(7) 25% 25% (1) 20% (2) 189

(a) (b) (c) 10% (a) (b) (c) 190

191

ITO ITO ITO 2.1% 20.4% 51.2% 9 712 5,740 192

(i) ITO (ii)(iii) (i) (ii) (iii) 15% 25% ITO 44,800,00060,500,000 22,400,000 33,200,000 35.0% 47.7% 389,0007,700,000 1,200,000 31.9% 39.5% 40.7% 193

(i)(ii) (iii)(iv) (v) (vi) 194

ITO PETITO ITO PDLC 84.3% 84.6% 76.3% 5.0% 1,300,000 1,500,000 751,000 1,600,000 2,000,000 904,000 195

15% 25% 15% 15% 22,300,000 25,900,000 (i) 7,900,000 14,400,000 (ii)14,500,000 16,800,000 6,500,000 7,600,0007,900,000 9,200,000 196

(i) (ii) (iii) II 3.2 3.3 197

44,805 60,477 22,447 33,151 (30,524) (36,581) (15,877) (19,675) 14,281 23,896 6,570 13,476 14 1,089 803 648 (5,211) (5,633) (2,551) (3,776) (6,758) (7,771) (3,671) (9,660) (1,518) (1,968) (3) (946) (106) (205) (152) 702 9,408 996 (258) (313) (1,712) (401) (938) 389 7,696 595 (1,196) 9 11 12 389 7,705 606 (1,184) 198

(i)ito (ii) (iii)(iv) 44,800,000 60,500,00022,400,000 33,200,000 % % % % ITO 18,159 40.5 18,354 30.4 9,569 42.6 6,536 19.7 7,200 16.1 18,621 30.8 6,452 28.7 9,328 28.1 18,566 41.4 8,360 13.8 5,551 24.7 9,682 29.2 13,621 22.5 5,288 16.0 880 2.0 1,521 875 4.0 2,317 7.0 44,805 100 60,477 100 22,447 100 33,151 100 % % % % 44,194 98.6 59,987 99.2 22,195 98.9 32,905 99.3 611 1.4 490 0.8 252 1.1 246 0.7 44,805 100 60,477 100 22,447 100 33,151 100 199

44,200,000 60,000,000 32,900,000 98.6% 99.2% 99.3% % % % % 44,320 98.9 59,829 98.9 22,193 98.9 32,560 98.2 485 1.1 648 1.1 254 1.1 591 1.8 44,805 100 60,477 100 22,447 100 33,151 100 44,300,00059,800,000 32,600,000 98.9% 98.9% 98.2% (i) (ii) (iii) PETITO ITO PDLC 84.3% 84.6% 76.3% 9.8% 9.5% 18.3% 5.9% 6.0% 5.4% 200

% % % % 25,721 84.3 30,932 84.6 12,805 80.7 15,018 76.3 2,994 9.8 3,467 9.5 2,252 14.2 3,601 18.3 1,809 5.9 2,182 5.9 820 5.1 1,056 5.4 30,524 100 36,581 100 15,877 100 19,675 100 % % % % ITO 15,044 49.3 14,691 40.2 7,811 49.2 5,047 25.6 3,207 10.5 8,936 24.4 3,142 19.8 4,108 20.9 11,284 37.0 6,089 16.7 4,004 25.2 6,877 34.9 5,714 15.6 2,056 10.5 989 3.2 1,151 3.1 920 5.8 1,587 8.1 30,524 100 36,581 100 15,877 100 19,675 100 201

% % % % % % % % ITO 3,115 21.8 17.2 3,663 15.3 20.0 1,758 26.7 18.4 1,489 11.0 22.8 3,993 28.0 55.5 9,685 40.5 52.0 3,310 50.4 51.3 5,220 38.8 56.0 7,282 51.0 39.2 2,271 9.5 27.2 1,547 23.6 27.9 2,805 20.8 29.0 7,907 33.1 58.1 3,232 24.0 61.1 (109) (0.8) (12.4) 370 1.6 24.3 (45) (0.7) (5.1) 730 5.4 31.5 14,281 100 31.9 23,896 100 39.5 6,570 100 29.3 13,476 100 40.7 202

31 8 22 3 6 6 1,067 800 600 11 14 1,089 803 648 5,200,000 5,600,000 2,600,000 3,800,000 11.6% 9.3 % 11.4% 11.4% 716 648 244 369 1,627 2,377 1,320 1,398 530 657 350 399 727 880 345 750 689 279 (112) 220 922 792 404 640 5,211 5,633 2,551 3,776 203

6,800,000 7,800,000 3,700,000 9,700,000 15.1 % 12.8% 16.4% 29.1% 1,603 1,984 957 904 2,259 3,195 1,396 1,008 281 344 77 228 6,505 683 892 447 389 80 124 41 84 1,232 156 114 19 620 1,076 639 523 6,758 7,771 3,671 9,660 1,500,000 2,000,000 3,000 946,000 3.4 % 3.3% 0.01% 2.9% 1,436 1,876 (20) 802 65 69 6 85 17 23 17 12 47 1,518 1,968 3 946 204

106,000 205,000 152,000 0.2% 0.3% 0.7% 25% 15% 15% 313,000 1,700,000401,000 938,000 566 1,800 161 915 (253) (88) 240 23 313 1,712 401 938 25% 15% 16.5% 205

33,200,000 22,400,000 10,800,000 47.7% ITO ITO ITO 9,600,000 3,100,000 31.7% 6,500,000 ITO 6,500,000 2,800,000 44.6% 9,300,000 ITO 5,600,000 4,100,000 74.4% 9,700,000 5,300,000 206

19,700,000 15,900,000 3,800,000 23.9% 2,300,000 59.9% 3,600,000 (i)ito (ii) 6,600,000 6,900,000 105.1% 13,500,000 29.3% 40.7% 648,000 803,000 155,000 19.3% 200,000 3,800,000 2,600,000 1,200,000 48.0% 11.4% 207

9,700,000 3,700,000 6,000,000 1.6 6,500,000 16.4% 29.1% 946,000 3,000 943,000 314.3 0.01% 2.9% 996,000 6,500,000 258,000 938,000 401,000 537,000 1.3 595,0001,200,000 6,500,000 208

60,500,000 44,800,000 15,700,000 35.0% ITO ITO 18,200,000 200,000 1.1% 18,400,000 ITO ITO 7,200,000 11,400,000 158.6% 18,600,000 18,600,000 10,200,000 55.0% 8,400,000 13,600,000 209

36,600,000 30,500,000 6,100,000 19.8% 3,000,000 15.8% 3,500,000 (i)ito (ii) 1,800,000 20.6% 2,200,000 14,300,000 9,600,000 67.3% 23,900,000 31.9% 39.5% 1,100,000 14,000 1,100,000 76.8 1,100,000 5,600,000 5,200,000 400,000 8.1% 11.6% 9.3% 210

7,800,000 6,800,000 1,000,000 15.0% 15.1% 12.8% 2,000,000 1,500,000 500,000 29.6% 3.4% 3.3% 702,000 8,700,000 12.4 9,400,000 1,700,000 313,000 1,400,0004.5 389,000 7,300,000 18.8 7,700,000 211

25,367 45,471 42,518 12,333 121 29 523 611 588 38,223 46,203 43,135 13,600 8,632 9,234 28,147 24,917 32,637 5,925 2,815 5,668 20 20 2,662 7,166 13,242 50,334 43,550 60,801 (6,883) (14,492) (8,239) (25,504) (14,661) (23,134) (4,500) (235) (1,352) (625) (656) (764) (885) (37,778) (31,269) (32,883) 12,556 12,281 27,918 50,779 58,484 71,053 857 857 50,779 58,484 70,196 1 1 1 50,778 58,483 70,195 50,779 58,484 70,196 212

6,511 4,321 3,660 2,146 2,371 2,431 4,943 1,940 3,143 13,600 8,632 9,234 13,600,000 8,600,000 8,600,000 7.0% 9,200,000 1 111.0 110.9 81.7 1. 365 180 213

110.9 81.7 23,576 23,729 33,869 (176) (1,377) (2,179) 23,400 22,352 31,690 4,747 2,565 947 28,147 24,917 32,637 24,900,000 28,100,000 3,200,00011.5% 2,200,000 32,600,000 24,900,000 7,700,000 31.0% 10,100,000 1,600,000 214

1 195.7 160.1 2 156.3 3 1. 365180 2. 3. 3 10,743 8,861 22,528 3 6 5,408 4,128 4,312 6 12 10,226 7,236 3,596 1 2 1,770 4,692 2,201 28,147 24,917 32,637 1. 215

176,000 1,400,000 2,200,000 2,600,000 7.9% 5,900,000 2,800,0005,700,000 5,154 1,945 3,005 300 300 1 2,063 470 570 600 5,925 2,815 5,668 2,800,000 5,900,000 3,100,00052.5%3,200,000 5,700,0002,800,000 2,900,000 101.3% 2,100,000 216

20,000 20,000 90 6,900,000 7,600,000110.5% 14,500,000 14,500,000 6,200,000 43.1% 8,200,000 1 76.2 106.6 104.0 1. 365180 76.2 106.6 104.0 217

6 2,212 9,537 6,704 6 12 2,143 1,200 914 1 2 449 2,542 465 2 3 1,108 250 68 3 971 963 88 6,883 14,492 8,239 1,600,000 19.3% 25,500,000 14,700,00023,100,000 1,377 3,833 2,640 267 428 2,283 1,434 1,144 514 2,320 4,394 7,016 66 4,446 4,335 40 336 5,458 20,000 80 888 25,504 14,661 23,134 218

14,700,000 25,500,000 10,800,00042.5% 20,000,000 (i) (ii) 23,100,000 14,700,000 8,500,000 57.8% 6,800,000 25,400,000 45,500,00042,500,000 ITO 12,300,000 121,00029,000 523,000 611,000 588,000 13,200,000 219

9,718 20,232 (16,405) (12,738) (5,368) (11,212) (10,072) 1,450 (2,592) (4,525) 27,554 17,351 1,758 4,495 1,077 6,063 904 2,662 2,662 7,166 9 11 13 2,662 7,166 3,750 13,242 12,700,000 3,000,000 14,100,000 8,500,0002,900,000 6,300,000 4,000,000 1,600,000 220

20,200,000 15,000,000 5,200,0005,000,000 2,000,000 3,100,000 7,600,000 11,900,000 700,000 9,700,000 5,300,000 4,400,000 8,600,000 8,400,000 2,900,000 1,000,000 23,400,000 200,000 1,500,000 1,100,000 888,000 600,000 11,200,000 11,200,000 5,400,000 (i) 13,800,000(ii) 8,500,000 17,400,000 (i) 12,900,000 (ii) 4,500,000 221

4,500,000 4,500,000 2,600,000 (i) 30,000,000 (ii) 4,500,000 37,000,00 70,200,000 43,100,000 27,900,000 857,000 13,600 8,632 9,234 10,230 28,147 24,917 32,637 40,281 5,925 2,815 5,668 5,019 20 20 20 2,662 7,166 13,242 11,798 50,334 43,550 60,801 67,348 6,883 14,492 8,239 11,712 25,504 14,661 23,134 24,450 4,500 235 1,352 625 879 656 764 885 925 37,778 31,269 32,883 37,966 12,556 12,281 27,918 29,382 222

(i)(ii) (iii) (iv) (v) (i)(ii) (iii) (iv) (v) 4,500 1 4,500 1. 4,500,000 223

110,000,000 107 1,033 1,098 1,808 1,292 107 2,841 2,390 224

8,011 8,011 649 2,676 97 1,013 21,528 307 1,662 24,204 404 1,700,00024,000,000 ITO 404,000 225

( ) 27 226

227

84.384.676.3% 26.722.2 20.9 510 10% (2,572) (1,929) (3,093) (2,629) (1,502) (1,277) 5% (1,286) (965) (1,547) (1,315) (751) (638) (5)% 1,286 965 1,547 1,315 751 638 (10)% 2,572 1,929 3,093 2,629 1,502 1,277 10% (521) (391) (563) (479) (378) (321) 5% (261) (196) (282) (240) (189) (161) (5)% 261 196 282 240 189 161 (10)% 521 391 563 479 378 321 10% (676) (507) (777) (660) (316) (269) 5% (338) (254) (389) (331) (158) (134) (5)% 338 254 389 331 158 134 (10)% 676 507 777 660 316 269 25 15 228

2.7% 30.4% 41.6% 13.5% 167.0% 165.4% 10.4% 121.1% 198.0% 6,500,000 5% 29 229

21.5% 61.8% 19.9% 59.9% 15.7% 61.5% 3 3 12 4,970 1,913 6,883 4,705 4,705 20,333 20,033 40 40 25,343 1,913 4,705 31,961 230

3 3 12 13,287 1,205 14,492 3,925 1,029 4,954 336 336 17,548 1,205 1,029 19,782 3 3 12 5,949 2,290 8,239 6,455 1,051 7,506 5,458 5,458 17,862 2,290 1,051 21,203 (%) 1 31.9 39.5 40.7 (%) 2 0.9 12.7 16.0 9 (%) 3 0.8 13.2 15.1 10 (%) 4 0.4 8.6 11 10.2 5 7.6 46.9 6 1.3 1.4 1.8 7 1.0 1.1 1.6 (%) 8 40.4 28.5 21.1 231

1. 100 2. 100 3. 100% 4. 100% 5. 6. 7. 8. 100% 9. 5,300,000 6,500,000 10. 6,500,000 11. 6,500,000 232

0.9% 12.7% 0.8% 13.2% 0.4% 8.6% 7.6 46.9 1.3 1.4 1.8 1.3 1.4 1.8 1.0 1.1 1.6 40.4% 28.5% 21.1% 233

22,300,000 25,900,000 7,900,000 9,100,000 14,400,000 16,800,000 - - 17 17.15 17.21 12 234

(i) (ii)(iii) (iv) 22,300,00025,900,000 235

(i) (ii) (iii) 236

ITO ITO 237

238

(DIY) 239

240

241

1. 2. 3. (i) % (ii) % 242

(iii) (iv) (v) % % % % 1.6 1.4 3.5 3.8 10.3 10.9 1.3 3.8 6.0 16.0 27.1 28.8 11.1 11.5 12.0 6.0 40.6 43.1 3.5 5.2 8.7 9.3 3.0 2.4 2.0 7.9 17.0 19.1 25.0 33.0 94.1 100 243

244

245

246

247

248

249

250

251

252

253

254

255

256

257

258

259

260

261

262

263

264

II 2.1 II 1 II 1 I-1

3.340 2410 I-2

II 2.1 I-3

I. 4 44,805 60,477 22,447 33,151 (30,524) (36,581) (15,877) (19,675) 14,281 23,896 6,570 13,476 5 14 1,089 803 648 (5,211) (5,633) (2,551) (3,776) (6,758) (7,771) (3,671) (9,660) (1,518) (1,968) (3) (946) (106) (205) (152) 6 702 9,408 996 (258) 9 (313) (1,712) (401) (938) 389 7,696 595 (1,196) 9 11 12 389 7,705 606 (1,184) 389 7,696 595 (1,196) 389 7,705 606 (1,184) I-4

I. 11 25,367 45,471 42,518 12 12,333 121 29 20 523 611 588 38,223 46,203 43,135 13 13,600 8,632 9,234 14 28,147 24,917 32,637 15 5,925 2,815 5,668 16 20 20 16 2,662 7,166 13,242 50,334 43,550 60,801 17 6,883 14,492 8,239 18 25,504 14,661 23,134 19 4,500 235 1,352 625 21 656 764 885 37,778 31,269 32,883 12,556 12,281 27,918 50,779 58,484 71,053 22 857 50,779 58,484 70,196 23 1 1 1 24 50,778 58,483 70,195 50,779 58,484 70,196 I-5

I. * * * * * * 23 24(a) 24(b) 24(c) 24(d) 20,000 207 406 (224) 20,389 389 389 1 1 ^ 30,000 30,000 1 50,000 207 406 165 50,779 7,696 7,696 9 9 9 7,696 7,705 1,111 ( 1,111) (55,161) (55,161) 55,161 55,161 1 (5,161) 1,318 55,567 9 6,750 58,484 (1,196) (1,196) 12 12 12 (1,196) (1,184) 12,896 12,896 1 12,896 (5,161) 1,318 55,567 21 5,554 70,196 I-6

I. * * * * * 23 24(b) 24(c) 24(d) 1 50,000 207 406 165 50,779 595 595 11 11 11 595 606 (55,161) (55,161) 55,161 55,161 1 (5,161) 207 55,567 11 760 51,385 * ^ I-7

I. 702 9,408 996 (258) 11 3,080 3,425 1,563 2,339 11 1,260 675 14 176 1,201 (20) 802 62 87 6 47 5 (8) (22) (3) (6) 5 (31) 6 106 205 152 5,316 14,954 2,688 2,980 (8,634) 4,968 3,473 (602) (8,424) 2,029 (3,802) (8,522) (2,914) 3,109 287 (2,853) 1,025 7,609 722 (6,253) 23,175 (11,862) (19,035) 4,033 383 108 (186) 121 9,927 20,915 (15,853) (11,096) (209) (683) ( 552) (1,642) 9,718 20,232 (16,405) (12,738) I-8

I. (13,841) (11,215) (10,056) (579) 8,465 1 1 (20) (20) 1,135 888 8 22 3 6 (5,368) (11,212) (10,072) 1,450 12,896 30,000 24(b) (55,161) (55,161) 24(d) 55,161 55,161 (36,986) 180 28,706 4,455 5,000 (500) (4,500) (1,000) (106) (205) (152) (2,592) (4,525) 27,554 17,351 I-9

I. 1,758 4,495 1,077 6,063 904 2,662 2,662 7,166 9 11 13 2,662 7,166 3,750 13,242 16 2,662 7,166 3,750 13,242 I-10

I. 15 2,063 1 58,441 70,819 1 58,441 72,882 18 2,088 2,960 1,556 6,604 1 58,441 66,278 1 1 1 24 58,440 66,277 1 58,441 66,278 I-11

II. 1. Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda 168-200 31 3108 ITO Top Access Management Limited Top Access Strong Eagle Holdings Limited Strong EagleTop Access Strong Eagle 1 100 (a) (b) 62,500,000 100 (b) (a) (b) ITO I-12

II. 1. 2.1 2.2 I-13

II. 3.1 9 2 10 4 28 15 2 15 16 3 7 1 12 1 2 2 1 2 3 4 9 399 9 9 15 15 15 1515 15 1515 (a)(b) 1515 15 I-14

II. 3.1 16 16 17 1616 7 2 3.2 (a) (b) (c) I-15

II. 3.2 2.1 (i) (ii)(iii)(i) (ii) (iii) I-16

II. 3.2 I-17

II. 3.2 (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) (viii) I-18

II. 3.2 5% 5-10 5 3-5 I-19

II. 3.2 I-20

II. 3.2 (a) (b) I-21

II. 3.2 I-22

II. 3.2 I-23

II. 3.2 I-24

II. 3.2 I-25

II. 3.2 (a) (b) (a) (b) (c) I-26

II. 3.2 3.3 I-27

II. 3.3 235,0001,352,000 625,000 176,000 1,377,0002,179,00014 I-28

II. 3.3 523,000611,000588,000 20 4. ITO 10% A 7,198 * * * B * * 2,794 C 3,988 D 3,553 E 3,522 F * * * 3,472 * 10% I-29

II. 4. % % % % ITO 18,159 40.5 18,354 30.4 9,569 42.6 6,536 19.7 7,200 16.1 18,621 30.8 6,452 28.7 9,328 28.1 18,566 41.4 8,360 13.8 5,551 24.7 9,682 29.2 13,621 22.5 5,288 16.0 880 2.0 1,521 875 4.0 2,317 7.0 44,805 100.0 60,477 100.0 22,447 100.0 33,151 100.0 (a) % % % % * 44,194 98.6 59,987 99.2 22,195 98.9 32,905 99.3 611 1.4 490 0.8 252 1.1 246 0.7 44,805 100.0 60,477 100.0 22,447 100.0 33,151 100.0 * (b) I-30

II. 5. 22 31 8 22 3 6 * 6 1,067 800 600 11 14 1,089 803 648 * I-31

II. 6. 30,524 36,581 15,877 19,675 7 7,105 8,896 4,285 3,899 216 321 136 179 7,321 9,217 4,421 4,078 106 205 152 3,080 3,425 1,563 2,339 1,603 1,984 957 904 154 456 95 570 267 253 6,505 1,260 675 176 1,201 (20) 802 47 65 6 85 I-32

II. 7. 383(1)(a) (b) (c) (f)2 211 97 20 17 8 2 228 105 22 211 17 228 211 17 228 I-33

II. 7. ** ** 20 2 22 ** 20 2 22 96 8 104 ** 96 8 104 * ** I-34

II. 8. 7 915 676 265 383 20 29 14 14 935 705 279 397 1,000,000 5 4 4 5 9. 16.5% 25% 15% I-35

II. 9. 566 1,800 161 915 20 (253) (88) 240 23 313 1,712 401 938 702 9,408 996 (258) * (6,224) 702 9,408 996 5,966 15% 1,420 151 901 25% 175 16.5% (9) (2) (7) 138 83 41 37 209 209 9 2 7 313 1,712 401 938 * 10. I-36

II. 11. 33,099 406 19 427 33,951 640 9 1,013 1,662 33,739 406 28 1,440 35,613 2,177 416 83 21,528 24,204 21,508 (21,508) 57,424 822 1,460 59,817 95 2 307 404 (2,989) (42) (3,031) 54,530 822 71 1,767 57,190 5,716 186 4 5,906 2,999 77 4 3,080 1,260 1,260 9,975 263 8 10,246 3,295 116 14 3,425 675 675 13,945 379 22 14,346 2,254 78 7 2,339 (2,007) (6) (2,013) 14,192 457 23 14,672 27,383 220 15 427 28,045 23,764 143 20 1,440 25,367 43,479 443 89 1,460 45,471 40,338 365 48 1,767 42,518 I-37

II. 11. 1,530,0001,260,000 855,000 675,000 12. 12,333 121 29 13. 6,511 4,321 3,660 2,146 2,371 2,431 4,943 1,940 3,143 13,600 8,632 9,234 14. 23,576 23,729 33,869 (176) (1,377) (2,179) 23,400 22,352 31,690 4,747 2,565 947 28,147 24,917 32,637 I-38

II. 14. 10,743 8,861 22,528 5,408 4,128 4,312 10,226 7,236 3,596 1,770 4,692 2,201 28,147 24,917 32,637 176 1,377 6 176 1,201 802 176 1,377 2,179 7,922 4,639 8,252 10,691 9,825 19,586 9,152 5,191 2,821 382 5,262 1,978 28,147 24,917 32,637 I-39

II. 14. 15. 5,154 1,945 3,005 300 300 27(c) 1 * 2,063 470 570 600 5,925 2,815 5,668 * 16. 2,662 7,186 13,262 (20) (20) 2,662 7,166 13,242 I-40

II. 16. 2,614 6,924 11,997 24 29 28 24 213 1,217 2,662 7,166 13,242 17. 2,212 9,537 6,704 2,143 1,200 914 449 2,542 465 1,108 250 68 971 963 88 6,883 14,492 8,239 I-41

II. 18. 1,377 3,833 2,640 267 428 2,283 1,434 1,144 514 2,320 4,394 7,016 66 4,446 4,335 27(c) 40 336 5,458 20,000 80 888 25,504 14,661 23,134 19. I-42

II. 20. 202 68 270 9 (202) 44 315 96 253 44 315 164 523 9 163 (25) (50) 88 207 290 114 611 9 120 (290) 147 (23) 327 261 588 21. 273 656 764 689 278 168 (306) (170) (47) 656 764 885 62 I-43

II. 22. 888 5 (31) 857 23. (a) 10,000 1,000,000 10,000 Top Access 0.01 (b) (c) Raton Race Investments LtdRaton Race 24. (a) 23(b) 23(c) 660 Raton Race I-44

II. 24. (b) 2.1(i) 55,161,000 100% (ii)50,000,000 (c) (d) Top Access 55,161,000 Top Access I-45

II. 24. 3,279 3,279 55,161 55,161 55,161 3,279 58,440 1,165 (6,224) (5,059) 12,896 12,896 12,896 55,161 4,444 (6,224) 66,277 25. 107 1,033 1,098 1,808 1,292 107 2,841 2,390 I-46

II. 26. 25 8,011 27. Top Access Zhuhai Singyes Electronic Technology Co., Ltd.Singyes Xinye I-47

II. 27. (a) (i) 70 155 72 (i) 9 3 (i) 3 (i) 51 2 2 (i) 16 (i) 25 162 169 77 (ii) 315 (iii) 107 107 53 (iii) 258 517 107 365 53 517 (iv) 128 150 (i) (ii) (iii) (iv) 3 11 (iii) (iv)20 I-48

II. 27. (b) (i) 17,034 32,229 27,854 1,281 Singyes Xinye 55 3 26 70 895 855 2,997 151 1,049 18,153 33,179 28,712 4,455 25,088 32,118 6 881 30,000 51 55,139 32,999 6 558 3 561 Singyes Xinye 9,026 1) 8,771,000 2) 3,665,000 3) 15,501,000 4) 381,000 I-49

II. 27. (b) (i) 5) Singyes Xinye 31,920,000 6) 707,000 7) 39,000 (ii) 110,000,000 (c) Top Access 1 15 3,012 Singyes Xinye 55 81 40 150 1,431 116 934 40 336 5,458 I-50

II. 27. (d) 821 836 305 349 16 35 17 21 837 871 322 370 7 28. 100 1,498 515 100,0001,498,000515,000 100,000 1,498,000515,000 I-51

II. 28. 1,127,0002,366,0004,155,000 29. 19 I-52

II. 29. 5.0% 5.0% 1 (195) (149) (1) 195 149 5% % % % 21.5 19.9 15.7 61.8 59.9 61.5 I-53

II. 29. 4,970 1,913 6,883 4,705 4,705 20,333 20,333 40 40 25,343 1,913 4,705 31,961 13,287 1,205 14,492 3,925 1,029 4,954 336 336 17,548 1,205 1,029 19,782 5,949 2,290 8,239 6,455 1,051 7,506 5,458 5,458 17,862 2,290 1,051 21,203 I-54

II. 29. I-55

II. 29. 6,883 14,492 8,239 4,500 25,504 14,661 23,134 235 1,352 625 (2,662) (7,166) (13,242) (20) (20) 34,460 23,319 18,736 50,779 58,484 70,196 85,239 81,803 88,932 40.4% 28.5% 21.1% 30. 110,000,000 31. I-56

III. I-57

A. 1 2 3 4 1.0 (1) 70,196,000 (2) 1.0 51 (3) (4) 51 II-1

B. II-2

II-3

II-4

1. 42A 2. (a) (i) III-1

(ii) (iii) (iv) III-2

(v) (vi) III-3

(aa) (bb) (cc) (dd) (ee) III-4

(vii) III-5

(viii) (14) III-6

(ix) (b) (c) (i) (ii) (iii) (iv) III-7

(v) (vi) (vii) (d) (e) 2(i) (f) III-8

(g) (h) III-9

(21) III-10

(i) (21) (20) (14) (10) (i) (ii) (95%) (j) III-11

(30) (k) (l) III-12

(m) (i) (ii) (a) (b) III-13

(n) (o) (20%) (14) III-14

(20%) (p) (q) (r) 4(e) (s) III-15

(t) (i) (ii) (iii) (u) 3. (21) 95% (21) III-16

4. (a) (i) (ii) (aa) (bb) (iii) III-17

(b) (c) (i)(ii)(iii) (i)(ii) III-18

42A (d) (i) (ii) 54 (e) III-19

(f) (g) (i) (ii) (iii) III-20

(5) (21) (7) (h) (21) (7) III-21

(15) (i) (j) III-22

(k) (l) (20%) (a) (b) (c)98(2)(c) (m) (2) III-23

(14) (2) 87A (n) III-24

5. Conyers Dill & Pearman III-25

A. 1. Clarendon House, 2 Church Street, Hamilton HM11, Bermuda 168-200 31 3108 622 16 2. 100 10,000 0.01 Top Access 10,000 10,000 Top Access (a) 100 10,000 111 11,100 Raton Race Investments Ltd. (b) 9,999,988,900 111 100,000,000 IV-1

3. (a) (b) 9,999,988,900 111 100,000,000 (c) (i) (ii) (iii) (i) (ii) 3,599,889 IV-2

4. 5. 6. (a) 1 100% IV-4

(b) 62,500,000 61,094,670 100% ITO 7. (a) (i) IV-5

10% (ii) (iii) (iv) IV-6

(v) 10% 10% 30 5% (vi) (vii) (1) (2) IV-7

(viii) 30 (b) (c) (1) (2) (3) (d) IV-8

(e) (f) (g) 26 26 25% IV-9

B. 1. (a) (b) (c) (d) Rat on Race Investments Ltd (e) (f) 3 11 (g) (i) 9 712 5,740 15 (ii) IV-10

2. (a) www.syeamt.com (b) ITO ZL2014200275122 ZL2012202291313 ZL2012202293709 ZL2014200051348 ZL2012202284165 ZL2012202285030 ZL2012202293037 IV-11

ZL2014204879494 ZL2012203058890 ZL201320786970X ZL2012201957168 ZL2013203528369 ZL2012202281025 201520587921.2 201520132485.X IV-12

201520587663.8 201510477950.8 (c) 9, 17, 19 303818421 9 TMZC-0000-0019- 5077-15ZC-SQ01 17 TMZC-0000-0019- 5079-40ZC-SQ01 19 TMZC-0000-0019- 5081-51ZC-SQ01 C. 1. IV-13

150,000 150,000 150,000 150,000 15% 2. 228,000 22,000 IV-14

935,000 705,000 397,000 3. 4. XV XV7 8 352 IV-15

(a) Top Access Strong Eagle 53.0% XVStrong Eagle (b) 1 2 2 1 Strong EagleStrong Eagle Strong Eagle 53.0% 11.0% 8.0% 9.0% 4.0% XVStrong Eagle 2 IV-16

5. XV2 3 10% (a) Top Access 1 Strong Eagle 2 3 1. The entire issued share capital of Top Access XVTop Access 2. Strong Eagle XVStrong Eagle Top Access 3. Strong Eagle 53.0% 11.0% 8.0% 9.0% 4.0%XV Strong Eagle IV-17

6. 27 7. 8. (a) XV XV7 8 352 (b) A. XV2 3 10% IV-18

E. 1. 0.1% IV-20

(i) (ii) (iii) (iv) (a) (b) (c) (d) IV-21

2. 3. (a) (b) (c) (d) 6A.19 6A.07 5,000,000 IV-22

4. 6,000 5. 6. 7. 8. IV-23

9. 1 6 10. 9. 11. 44A 44B 12. 32L4 14.25 IV-24

13. 14. (a) [ (i) (ii) (iii) (iv) (v) (b) 9. (i) (ii) IV-25

14 10 18 1803 (a) (b) (c) (d) (e) (f) B. 1. (g) (h) (i) C. 1. V-1

(i) (k) D. 10. V-2