PAK FAH YEOW

2 3 4 8 9 14 15 16 17 18 19 20 21 22 47 48 49 50 1

2 Clarendon House Church Street Hamilton HM 11 Bermuda 103 111 1 2718 The Bank of Bermuda Limited 6 Front Street Hamilton HM 11 Bermuda 111 www.whiteflower.com pfy@pfy.com.hk

4 Q-Mark ISO90021994(E) Good Manufacturing Practice (GMP) Good Manufacturing Practice (GMP)ISO90021994(E) Q GMP

23,787,000 24,899,0004.5% 22.5%26,127,00020,255,000 1,280,0003,148,000 2,728,000 5,152,0008,972,000 74.1%3,820,000 3,928,000 3,676,000 4,660,000 5

6 2,153,0001,566,000 587,000 46,600,000 38,872,000229,981,000221,679,000 17.5% 20.3% 145,017,000138,980,000 19,650,00026,824,0005.2 7.4 46,600,00038,872,000

111 7

8

17 16 4.55,850,000 79,100,000 8,837,356 438,000 23 48 14 4,518,362 9

10 1415 4950

29 11,446,800 991,900 27,218,100 39,656,800 1 2 2 4,563,700 26,053,300 30,617,000 3 3 1,000 8,600 800 9,400 1 2,800 2,800 1 8,244,445 711,111 8,955,556 1 2,800,000 2,800,000 1. 991,900800 711,111 2. 27,218,100Hexagan Enterprises Limited 39,656,80030.5% 11

12 3. 26,053,30031%Gan s Enterprises Limited30,617,000 23.6% 4. Hoe Hin Pak Fah Yeow (B.V.I.) Limited 1 25 22 16(1)

81%44% 74% 37% 5% Loughborough University of Technology 13

14 8.10

1647 15

16 3 93,109,445 92,133,395 4 3,663,974 1,976,285 (290,474) (2,820,827) (21,747,256) (17,238,956) (16,438,335) (16,744,971) (2,390,570) (5,851,795) (529,120) 3,124,688 3,927,589 (27,834,273) (23,076,266) 5 31,470,980 31,501,553 6 (3,693,012) (2,662,013) 27,777,968 28,839,540 10 (3,990,612) (4,011,055) 23,787,356 24,828,485 70,083 11 23,787,356 24,898,568 12 14,950,000 18,850,000 13 18.3 19.2

14 93,031,794 86,722,993 15 55,968,118 58,674,836 16 1,334,700 1,767,800 870,000 1,230,000 151,214,612 148,395,629 18 8,690,572 10,731,759 19 32,036,109 29,652,970 7,841,691 11,048,712 16 29,599,755 20,177,928 51,464 106,257 28 57,458,945 32,639,129 9,338,248 34,623,386 145,016,784 138,980,141 20 4,969,471 9,255,788 3,768,656 3,892,158 972,244 2,862,310 9,172,084 9,153,629 767,775 1,660,580 19,650,230 26,824,465 125,366,554 112,155,676 21 46,600,000 38,871,891 229,981,166 221,679,414 22 13,000,000 13,000,000 23 216,981,166 208,679,414 229,981,166 221,679,414 1647 17

18 17 84,339,832 84,339,832 368,857 153,888 95,354,290 82,187,922 40,012 31,574 16 6,049,094 5,248,815 19,822,628 5,030,789 121,634,881 92,652,988 623,220 299,587 81,042,176 51,653,796 1,811,409 1,722,158 9,172,084 9,153,629 465,986 93,114,875 62,829,170 28,520,006 29,823,818 112,859,838 114,163,650 22 13,000,000 13,000,000 23 99,859,838 101,163,650 112,859,838 114,163,650

4,518,362 5,575,453 (142,409) 59,145 75,374 (693,603) 4,451,327 4,940,995 23,787,356 24,898,568 28,238,683 29,839,563 19

20 26 29,976,985 34,757,976 (3,683,309) (3,092,596) (14,931,545) (20,127,098) (18,614,854) (23,219,694) 106,313 722,359 (5,682,584) (1,217,719) (231,045) (381,444) (5,807,316) (876,804) (26,540,900) (6,198,051) (16,120,932) (8,424,153) (3,522,897) (1,199,789) (1,948,999) 899,714 576,613 11,007,143 (40,378,917) (11,093,334) (34,824,102) (431,856)

27 (35,998,500) 46,600,000 (769,809) 10,601,500 (769,809) (24,222,602) (1,201,665) 32,962,806 34,306,001 (169,731) (141,530) 8,570,473 32,962,806 9,338,248 34,623,386 (767,775) (1,660,580) 8,570,473 32,962,806 21

22

23

24 20

5 10 5 10 2,662,760 65,700 2% 10 15 5 15 5 25

26

81,214,127 81,245,594 20,254,971 26,127,132 6,985,287 6,300,444 8,972,000 5,151,232 4,659,536 3,676,001 4,659,536 3,676,001 250,495 391,183 (2,415,527) (263,175) 93,109,445 91,613,222 31,470,980 34,691,190 520,173 (3,189,637) 93,109,445 92,133,395 31,470,980 31,501,553 27

28 46,378,451 48,487,431 16,390,267 20,581,927 17,151,687 19,729,266 (1,279,994) 3,148,028 19,122,822 11,789,441 7,109,322 4,669,333 4,211,912 5,740,588 1,138,244 1,437,756 5,898,747 4,989,250 7,968,783 4,608,664 345,826 877,246 144,358 245,482 93,109,445 91,613,222 31,470,980 34,691,190 520,173 (3,189,637) 93,109,445 92,133,395 31,470,980 31,501,553

95,064 68,429 184,194 60,370 2,170,048 1,317,589 78,394 164,330 921,874 233,685 75,800 (122,431) 138,600 254,313 3,663,974 1,976,285 551,032 536,972 (225,000) (509,403) 30,528,279 31,215,423 4,104,806 2,538,558 (55,306) 204,391 280,000 1,696,344 1,882,070 1,094,658 423,100 248,989 348,551 295,876 500,443 (6,689,411) (5,800,001) 199,474 193,929 29

30 3,693,012 2,662,013 520,1733,189,637 1,000,000 150,000 150,000 2,612,220 2,374,714 609,932 638,424 89,251 81,377 2,000 1,152,051 1,049,136 187,348 172,137 4,802,802 4,465,788 2.5%2.5%

1,000,000 3 3 1,000,0011,500,000 1 1 1,500,0012,000,000 2,000,0012,500,000 1 1 5 5 60,00060,000 8 1,092,630 1,192,478 2,000 1,094,630 1,192,478 1,000,000 31

32 3,280,012 4,186,500 (25,382) (520,183) 3,254,630 3,666,317 245,658 303,728 490,324 41,010 735,982 344,738 3,990,612 4,011,055 16%16% (1,090,601) (1,138,276) 1,960,928 1,573,563 5,366 716,834 727,119 288,645 280,367 1,587,161 1,162,406 294,011 280,367

47,675 (91,998) 387,365 267,429 (10,285) (44,432) 424,755 130,999 23,787,35624,898,56813,646,188 12,272,298 4.5 2.5 5,850,000 3,250,000 0 5 6,500,000 7 7 9,100,000 9,100,000 14,950,000 18,850,000 33

34 23,787,35624,898,568 130,000,000130,000,000 14,650,000 1,650,000 70,422,993 86,722,993 (4,719,243) (4,719,243) 16,120,932 16,120,932 (9,611,250) (9,611,250) (1,350,000) (150,000) 6,018,362 4,518,362 13,300,000 1,500,000 78,231,794 93,031,794 Memfus Wong Surveyors LimitedHealey & Baker Victor Morris Team Pte. Limited 23

17,800,001 27,800,000 10,226,898 18,066,967 1,345,930 75,239,796 463,235 736,554 1,199,789 (1,200,001) (200,000) (1,400,001) (4,765,971) (4,765,971) 16,600,000 27,600,000 10,690,133 14,037,550 1,345,930 70,273,613 10,690,133 14,037,550 1,345,930 26,073,613 16,600,000 27,600,000 44,200,000 16,600,000 27,600,000 10,690,133 14,037,550 1,345,930 70,273,613 4,670,193 10,856,009 1,038,758 16,564,960 136,983 591,489 601,994 906,518 153,586 2,390,570 (136,983) (591,489) (728,472) (3,921,563) (3,921,563) 5,272,187 7,840,964 1,192,344 14,305,495 16,600,000 27,600,000 5,417,946 6,196,586 153,586 55,968,118 17,800,001 27,800,000 5,556,705 7,210,958 307,172 58,674,836 Memfus Wong Surveyors Limited 50,900,000 51,700,000 35

36 17,369,785 7,156,948 17,369,785 7,156,948 1,344,700 1,767,800 1,344,700 1,767,800 1,344,700 1,767,800 17,369,785 7,156,948 18,714,485 8,924,748 9,246,770 12,075,980 9,246,770 12,075,980 2,983,200 945,000 2,983,200 945,000 12,229,970 13,020,980 12,229,970 13,020,980 1,809,600 555,800 1,809,600 555,800 24,806,955 18,677,128 24,806,955 18,677,128 1,344,700 1,767,800 2,983,200 945,000 4,327,900 2,712,802 1,344,700 1,767,800 29,599,755 20,177,928 30,944,455 21,945,728 26,616,555 19,232,928 26,616,555 19,232,928 29,599,755 20,177,928 29,599,755 20,177,928 1,344,700 1,767,800 1,344,700 1,767,800 1,344,700 1,767,800 29,599,755 20,177,928 30,944,455 21,945,728

3,027,721 965,144 3,027,721 965,144 3,021,373 4,283,671 3,021,373 4,283,671 6,049,094 5,248,815 6,049,094 5,248,815 6,049,094 5,248,815 6,049,094 5,248,815 84,339,832 Biotech Products 1 100 Limited 1 37

38 4,000,000 100 1 Hoe Hin Pak Fah Yeow 20,000 100 (B.V.I.) Limited 1 22,000 100 1,000 ** 2 1,000 2 100 1 21,200,000 100 1 ** 2 1 *Princely Profits Limited 1 100 1 *Princesland International 1 100 Limited 1

Velton Enterprises 30,000 70 Limited 1 * ** 776,040 1,066,514 3,704,376 5,308,405 4,210,156 4,356,840 8,690,572 10,731,759 39

40 27,868,48324,998,02890 0-30 25,052,671 12,319,393 31-60 2,503,103 6,349,983 61-90 300,975 4,702,904 90 11,734 1,625,748 27,868,483 24,998,028 946,707 839,610 0-30 946,707 208,527 31-60 419,522 60 211,561 946,707 839,610 1.10% 93,031,79463,842,993

300,000,0000.1 30,000,000 130,000,0000.1 13,000,000 80% 10% 41

42 24,925,458 24,925,458 24,925,458 24,925,458 67,707,053 67,707,053 12,808,008 12,808,008 30,591,456 25,016,003 (2,455,235) 4,518,362 5,575,453 (2,531,696) 30,122,887 30,591,456 2,592,609 2,885,763 (142,409) 59,145 (352,299) 2,450,200 2,592,609 32,573,087 33,184,065 (235,500) 458,103 75,374 (693,603) (160,126) (235,500) 137,997,383 131,596,516 8,531,139 15,108,841 23,787,356 24,898,568 13,646,188 12,272,298 12 (14,950,000) (18,850,000) (14,950,000) (18,850,000) 352,299 146,834,739 137,997,383 7,227,327 8,531,139 216,981,166 208,679,414 99,859,838 101,163,650

(a) (b) 7,227,327 8,531,13967,707,05367,707,053 (a) 41,30031,080 (b) 347,760524,27571,073 85,640 (c) 10% 199,474193,929 (d) 46,450 131,318 43

44 27,777,968 28,839,540 529,120 (3,124,688) (55,306) 204,391 (3,927,589) 3,693,012 2,662,013 2,390,570 5,851,795 1,094,658 (225,000) (509,403) (997,674) (111,254) 423,100 2,041,187 6,126,859 1,208,972 (8,806,038) (4,181,554) 2,730,826 (123,502) (200,723) 1,423,681 29,976,985 34,757,976 769,809 40,170,000 (1,298,109) (769,809) 38,871,891 (2,873,391) 10,601,500 46,600,000

83,091,854 75,071,89147,367,775 41,327,071 93,031,794 63,842,993 57,458,945 32,639,129 21,153,903 10,625,161 171,644,642 107,107,283 492,466 920,130 224,411 110,804 716,877 1,030,934 45

46 1,124,550 65 362,300579,500 58,603

46,600,0006,425,000 26 47

48 93,667,131 90,763,845 94,093,523 92,133,395 93,109,445 36,006,218 15,822,231 31,568,003 28,839,540 27,777,968 (5,379,010) (3,149,940) (2,015,163) (4,011,055) (3,990,612) 30,627,208 12,672,291 29,552,840 24,828,485 23,787,356 (16,484) 231,084 270,833 70,083 30,610,724 12,903,375 29,823,673 24,898,568 23,787,356 18,200,000 9,100,000 13,650,000 18,850,000 14,950,000 23.5 9.9 22.9 19.2 18.3 184,730,311 227,314,975 147,707,261 148,395,629 151,214,612 98,222,480 40,758,578 103,222,673 112,155,676 125,366,554 (66,430,000) (40,170,000) (40,170,000) (38,871,891) (46,600,000) 216,522,791 227,903,553 210,759,934 221,679,414 229,981,166 13,000,000 13,000,000 13,000,000 13,000,000 13,000,000 203,522,791 214,562,637 197,689,851 208,679,414 216,981,166 340,916 70,083 216,522,791 227,903,553 210,759,934 221,679,414 229,981,166

(%) 1. 2,905 100 15-18 999 2. 692-702 932 100 27-29 B 75 75 3. 720 100 520 999 4. 488-490 715 100 13 48-52 982 A 5. No. 30 Kallang Pudding Road 323 100 No. 03-07 Valiant Industrial Building Singapore, 1334 6. Princess Court 7,241 100 47-63 Queensway London, W2, United Kingdom 7. 144 Camden High Street 3,640 100 London, NWI 49 United Kingdom

50 (%) 8. 106.43 100 1068 70 Pacific Plaza Palace Court D (%) 1. 3,075 100 84 75 75 2. 2,911 100 103 982 3. 12 31,444 100 1 13 4. 132.67 100 12 13 14