(f) (g) (h) (i)

CHINA AUTOMOTIVE INTERIOR DECORATION HOLDINGS LIMITED (a) (b) (c) (d) (e)

(f) (g) (h) (i)

[ ]

[ ] 15,000,000 (1) (2) (3) (4) (5) (6) (7) (8) (9) 1

1. 2. 10099.7 99.7 PE/PP [21.9]%[34.6]% 37.8% [65.9]%[81.0]% 82.8% [ ] [2.5] [5.5] 2

35,625 53.3 49,109 56.2 [9,009] [59.1] [18,106] [66.4] 31,227 46.7 30,789 35.2 [6,233] [40.9] [9,181] [33.6] 7,465 8.6 [ ] [ ] [ ] [ ] 66,852 100 87,363 100 [15,242] [100] [27,287] [100] [66,852,000][87,134,000] 27,202,000] [23.4]% [30.9]% [31.7]% [229,000] [50,400][49.8]% [59.2]% 3

42,000 7.2% 6.3 % 66.987.4 30.7%20082009142 239 [15.2][27.3] [79.6]% 111 155 5.01.4 6.428.0% 1.10.9 2.0 81.8% 53.3%56.2% [66.4]% 4

35.649.1 [9.0] [18.0]37.9% [101.1]% 46.7%35.2%[33.6]% 8.6% ISO/TS16949:2002 ISO14001:2004 GB/T24001-2004 5

[66,852] [87,363] [15,242] [27,287] [(51,220)] [(60,305)] [(11,198)] [(18,620)] [15,632] [27,058] [4,044] [8,667] [230] [75] [34] [910] [(3,193)] [3,980] [(675)] [(1,378)] [(5,364)] [(7,184)] [(1,031)] [(4,864)] [7,305] [15,969] [2,372] [3,335] [(1,891)] [(1,809)] [(535)] [(229)] [5,414] [14,160] [1,837] [3,106] [(1,062)] [(2,076)] [(221)] [(802)] [4,352] [12,084] [1,616] [2,304] 2.9 8.1 [1.1] [1.5] 6

2,000,0004,784,990 4.8 20% 1. 2. 3. 7

1. 2. 3. 8

9

10

[ ] [ ] [ ] [ ] 32 223 [ ] 11

[] Joystar BVI Joystar (BVI) Automotive Interior Decoration Limited Joystar BVI [][][] 12

[ ] 571 [] [ [ ] [ ] [ ] ] 0.10 [ ] [ ] [ 8810 1003 ] [ ] 13

28 81 % 0.881.00 14

ISO OEM PE PP PP/ PE 15

[28.7]%[19.8]% [20.4]% [62.5]%[64.2]% [66.2]% [25.4][5.7][10.3] [21.3][2.1][9.1] [21.9]%[34.6]% [37.8]%[65.9]%[81.0]% [82.8]% 16

17

[ ] PE/PP 100 91.46100 18

[66.85] [87.36][27.29] [4.35 ] [12.08 ] 2.30 6.4%13.8% 8.4% [9.41] [2.83] [ ] [14] [19] [ ] [17.92] [17.65] [20,000] 24% 19

50% 12.0% 25% 24% 25% 12.5% 15% 25% 20

10 50,000 [ ] 612,000 144,000 [2,524,000] 21

[661,000] [975,000] 0.2% 1,670,000 20,000 5% [120,000] 182 29 [323,000] [363,000] [283,000] 22

10,00050,000 50,000 18.37 15.32 2.830.51 [ ] 2,000,000 8% [] 23

15 24

30 25

(i)(ii) (iii) 10% 6.8 25% 5%10%100% 5% 25% 26

25% 21.2% 27

78 1101 11 2 23 A A 7 1 102 1301 151 701 2 2 1101 8 11 19 C 16 701 28

18 31 3104-7 Conyers Dill & Pearman Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 1010 3505 200031 28 29 10 1010 29

Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman, KY1-1111 Cayman Islands 88 1003 http://www.joystar.com.hk [ ] CPA, FCCA [ ] 11 2 8 F [ ] 11 2 23 A [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 30

[ ] [ 28 26 ] [ 8 ] [ 8 ] 31

[] [ ][ ] [ ][ ] 60,000 32

160 13,790,00013,650,00048.3% 46.2% 33

) 583.5 2,070.0 514.0 2,341.7 714.2 3,251.0 1,066.7 4,443.9 1,298.5 5,091.1 1,366.9 5,704.9 1,452.7 7,278.9 1,475.2 8,888.9 1,582.5 9,345.5 1,630.0 13,795.0 1,832.0 15,000 14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 5,000,00 1,309,817 29.25% 34

[ ] 425412 11.07% 10.6%62 31.42% 8%12,280,000 20,000,000 100,000,000 15% 20% 40 120 20 % A 190 10.50 230 10.50 B 130 7.54 210 7.54 87 6.25 179 6.25 C 91 5.67 153 5.67 D 81 5.42 194 5.42 1. ABC D 2. 100,000,000 35

210,70016(1) (2) (3) 4 1. 2. 1.6 10%5% 7.5% 36

3. 50 [ ] 8.8 0.19 0.50 2.18 3.37 4.32 6.06 8.83 15,000,000 400,000 80 10% 583,000,000 37

38

(GB8410-2006) 100 39

5% 40

10% 50% 25% 25% 10% 25% 5%10% 12 41

42

75 75 75 75 43

(1) (2) (3) [] (i)(ii) (iii) (iv) [ ] [ ] 44

12 [ ] ISO14001:2004GB/T4001-2004ISO/ TS16949L:2002 [200] 517 [87]183 5 45

5 4 ISO/TS16949 ISO14001:2004 GB/ T24001-2004 ISO/TS16949:2002 A 46

[ ] Joystar (BVI) Automotive Interior Decoration LimitedJoystar BVI Joystar BVI Joystar BVI50,000 Joystar BVIJoystar BVI 10,000.0010,0001.00GSL Services Limited GNL Services Limited1 999,899 GSL Services Limited GNL Services Limited 1 990,0001.00 10,000.00 1,000,000.00 9,900980,100 290,000 1.00 52,000 52,000 67,800 1.00201,400 47

1.00 [4,390,000] [2,400,000] [1,000,000.001,000,000 1.0098,600 (9.86%) 269,200 (26.92%)52,000 (5.2%)52,000 (5.2% 528,000 (58.82%] 3,000,000 800,0002,200,000 15% 1,270,000 1,730,000 9,682,500.001,267,415.94 20,104.25 2,584.06 1,730,000.00 3,000,000.00 48

3,000,000.004,000,000.001,000,000.00 680,000.00 320,000.00 20% 1,000,000.00700,000.00 300,000.00 2,270,910.00 300,000.00 3,300,000.00 1,000,000.00 300,000.00700,000.00 4,784,990.00700,000.00 4,000,000.00 [ ] 49

[ ] 380,0003,800,0000.10 Codan Trust Company (Cayman) Limited1 Codan Trust Company (Cayman) Limited [170,177]1,000,000 [1,170,177] [94,817][48,325] [17,700] [9,335] [6,000,000] Joystar BVI Joystar BVI Joystar BVI [ ] (i) Joystar BVIJoystar BVI1 (ii)1(iii) [377,720][1,030,939] [2,023,120][199,120] [169,100] Joystar BVI 50

[ ] 380,000 [ ] [ ] [ ] [ ] [] [][][] [ ] [ ] [ ] (1) (2) []% []% []% []% []% []% 100% Joystar BVI 100% 100% (1) (2) (3) 51

[ ] 15,000,000 9,920,000 35,625 53.3 49,109 56.2 [9,009] [59.1] [18,106] [66.4] 31,227 46.7 30,789 35.2 [6,233] [40.9] [9,181] [33.6] 7,465 8.6 [ ] [ ] [ ] [ ] 66,852 100 87,363 100 [15,242] [100] [27,287] [100] [66,852,000] [87,134,000]27,202,000] [23.4]% [30.9]% [31.7]% 52

[229,000] [85,000] [49.8]% [59.2]% 42,000 7.2% 6.3 % ISO/TS16949:2002 ISO14001:2004 GB/T24001-2004 [ [][10] 53

[ ] [[ ] ] BSI Management Systems (China)ISO/TS 16949:2002 54

9 [400,000] 600,000 [1,000,000][0.6]%[0.7]%[3.6]% 7.2% 6.3 % [ ] 6,000,000 [6,000,000] 55

[4,260,000] 8 [ ] (1)(2) (1) 56

(2) (3) (4) (5) (6) (7) (8) (9) 1. 2. 10099.7 99.7 57

(1) (2) (3) (4) (5) (6) (7) (8) (9) (1) 50% 3 (i)(ii) (iii) 58

(9) [66,852,000] [87,134,000][27,202,000][23.4]% [30.9]% [31.7]% (4) [229,000][85,000] [49.8]% [59.2]% [ ] 59

[ ] PE/PP [40,407,000][48,153,000]14,864,000 [78.9]%[79.8]% 79.8% [60.4]%[55.1]% 54.5% PE/PP [3,382,000][3,902,000] 1,242,000 60

[21.9]%[34.6]% 37.8% [65.9]%[81.0]% 82.8% [ ] [2.5] [5.5] [30] [90] [ ] [ [23,000 ]29,000[13,000]] [[ ] ] [ ] [ ] [ ] [ ] [ ] [ [ ] 5% ] 61

[ ] [ ] [ ] [ ] 28 81 [17] [14,888] [6,437,000] * [42.91%] * [] [432,000] [8,498,000] [213,000] 62

6,700,000 1,100,000400,000 [ ] [ ] [ ] [156,000][165,000] [272,000] [ ] 63

[ ] [5] [10] [11] [12] [13] [17] 1.04 6.43 9.24 10.78 11.88 12.76 0.26 3.95 6.26 8.24 7.11 9.92 (%) 25.15 61.37 67.77 76.46 59.83 77.76 78% 17.56 6 21 64

[ ] 149 [ ] PEPP 65

PP/PE PP/PE PP/PE 66

24 ISO/TS 16949:2002 BSI Management System (China) ISO/TS 16949:2002 67

YG747 101A-2 YG026B YG001B YX YG141 YG982B YG522 68

[10,987,000] [6,244,000] 7,570,000 69

310 [ ] [ ] 70

1. 2. 3. 4. 5. 71

[30] [90] 6 [85] [107] 128 [256,600] 72

[62.5%]64.2% [66.2]%[28.7]%[19.8]% 20.4%[ ] [][] [ ] 5% 9 110 531 73

(i)(ii) (iii) 1. [] 2. [400,000][600,000] 1,000,000 [0.6]%[0.7]% 3.6% 74

360 75

35% 1. 2. 3. 4. 76

ISO 14001:2004 GB/T 24001-2004 ISO/TS16949:2002 B S I Management Systems (China) A 77

1. 2. 3. 4. 5. 6. 7. 8. 435,000 * 32 5 10 5 7 * 1 10 78

4 2009 A2A 1. 2. 3. 4. ISO14001:2004 GB/T 24001-2004 79

ISO14001:2004 GB/T 24001-2004 80

ISO14001:2004 21,000 36,000 8,000 [32,000] (i)(2)(3)(4) (5) [ ] 2,524,000 81

[661,000] [975,000] 0.2% 1,670,000 20,000 60% 300% (i)(ii 1,896,000 [ ] 82

120,000 18229 [323,000] [363,000] [283,000] 10,00050,000 50,000 29 22 (i) (ii) (iii) 83

805,000 [] [ ] 18,370,00015,320,000 2,830,000 510,000 84

15,179 18,370 (2,827) 186 (64) (134) (2,827) (150) 18,730 14,034 (15,511) (32,270) 2,827 18,370 (2,827) 5,817 15,316 512 (816) (458) 569 475 512 13,145 17,246 (3,399) (32,579) (512) 15,316 512 85

1.3% 0.4% 1.4% 1.2% [] 2,000,000 8% 86

15 87

2,700,000 3,597,61019,986.7 2,700,000 900,000 3,597,610 10 150,000 88

50,000 612,000144,000 89

1. 2. (a) (b) 90

16,400 [ ] [ ] 91

36 [][] - 993,000 Zhu Xiuduan - 695,100Zhu Xiuduan 36 7.6 [ ] [ ][ ]Zhu Xiuduan [ ]Zhu Xiuduan [] 5%1,000,000 [][] [ ] 92

[ ] [[ ] [ [ ] ] 93

1. [ ] [15] [6] 21 2. 4.67 5013,447,000 100,000 100,000 Fanqian Town 94

3. PE/PP 4. 7.4 95

1. [] 2. [] [] 96

3. 97

98

[ ] [ ] [48] [] Joystar BVI 99

[ ] 000658 [7] 100

[55][ ] Joystar BVI [Millikin University Board of Trustee] Leo Lighting LimitedLeo Lighting Limited [ ] [50][ ] Joystar BVI [ ] [15] [] [ ] [ ] [45] [ ] [8] [ ] 101

[40] [ ] [16] [ ] [ ] [] [ ][ ] [46] [ ] 000069[ 000046] [37][ ] [ ] Chiang & Lai C.P.A. [18][ ] 794 102

[62][][ ] [ ] [ 600483] [ ] 2228 [ ] [[]] [ ] [41][][ ] [ ][ ] [10] [ ] [ ] 103

[56][] [ ] 10 4 [36][ ] [] [13] [ ] 36 15 40 104

[ ] [ ] [ ] [ ] [][][ ] [ ] [ ] [ ] [ ] [ ][ ] ] [] [ ] [ ] [ ] [ ] ] 105

(i) (ii) [95,000][96,000] [ ] [83,000] [83,000]42,000 [1,020,000] [ ] 106

[ ][183] 3 1.6% 5 2.7% 10 5.5% 9 4.9% 16 8.7% 24 13.1% 116 63.5% 183 100% [ ] [ ] [ ] [ ] [ ] [ [ ]] 107

[ ][ ] [ ] [] (i) [ ] [ ] [ ] [] (ii) [ ] (iii) (iv) [ ] 108

[ ] XV 23 10% [ ] [ ]% [ ] [ ]% [ ] [ ]% [ ] 30% [ ] [ ] [ ]% 109

[ ] [ ] 5% [ ] [ ] [ ]% [ ][ ] [ ] 110

[ ] [ ]% [ ] Kingstar (Hong Kong) Holdings LimitedKingstar (Hong Kong) Holdings Limited 75% 25% [ ] 468 [ ] 111

5 15.45% 5.88% 11.88% 8.49% [] [ ] [ ] 112

[ ] 1 [] (a) 5% (i) (ii) (b) 30% 113

(i) (ii) (a) (b)(c) (d) 30 (ii) [ ] 114

[ ] [ ][] [ ][ ] (i) (ii) (iii) (iv) [] 115

[ ] [] 62.5%64.2% 66.2%5% 116

65.9%81.0% 82.8%5% [ ] 6.255.5 [ ] [ ] [ ] [ ] 117

10,000,000,000 0.10 1,000,000,000 [ ] 20% (i) (ii) (iii) [ ] 10% 118

[ ] [ ] [ ] [ ] [ ] (i) (ii) (iii) 119

66.9 87.4 27.3 15.627.1 8.7 4.4 12.1 2.3 120

9.34.513.8 48.4% [62.5]%[64.2]% [66.2]% [28.7]%[19.8]% [20.4]% 121

(1) 21.37 18.13 [20.61] [16.84] 9.23 9.37 [9.09] [10.41] 20.76 [ ] [] 13.24 13.75 [13.58] [13.94] (1) 1.6 10% 5% 7.5% 1.6 122

1.6 43.4% Joystar BVI Joystar BVI 16.5% 24% 50% 123

25% 25% 24%25% 12.5% [5,414] [14,160] [1,837] [3,106] 25% [1,353] [3,540] [459] [776] [177] [322] [30] [485] [194] [56] [] [50] [(648)] [(2,042)] [(268)] [(771)] [(14)] [200] [] [262] [1,062] [2,076] [221] [802] 19.6%14.7% [25.8]% 124

12.5% [ ] [25.8]% 62.5% 19.6%14.7%(i) 13.1% 9.1%(ii) 194,000 56,000 12.0% 25.8%(1) 6.5% 62.5%(2) 262,000 2 125

(a) (b) (c) (d) 126

(a) (b) 127

(c) 128

[66,852] [87,363] [15,242] [27,287] [(51,220)] [(60,305)] [(11,198)] [(18,620)] [15,632] [27,058] [4,044] [8,667] [230] [75] [34] [910] [(3,193)] [(3,980)] [(675)] [(1,378)] [(5,364)] [(7,184)] [(1,031)] [(4,864)] [7,305] [15,969] [2,372] [3,335] [(1,891)] [(1,809)] [(535)] [(229)] [5,414] [14,160] [1,837] [3,106] [(1,062)] [(2,076)] [(221)] [(802)] [4,352] [12,084] [1,616] [2,304] 129

[24,702] [30,608] [30,039] [3,209] [3,136] [3,118] [110] [180] [180] [534] [634] [674] [28,555] [34,558] [34,011] [73] [73] [73] [10,987] [6,244] [7,570] [15,263] [35,660] [41,270] [2,687] [1,284] [1,805] [18,370] [ ] [ ] [3,931] [22,068] [1,941] [51,311] [65,329] [52,659] [5,435] [14,645] [9,878] [5,613] [10,860] [10,733] [360] [958] [973] [15,514] [3,537] [198] [17,919] [17,651] [16,029] [15,790] [19,100] [14,000] [ ] [217] [221] [92] [1,187] [607] [60,723] [68,155] [52,639] [(9,412)] [(2,826)] [20] [19,143] [31,732] [34,031] [192] [247] [297] [443] [386] [192] [690] [683] [18,951] [31,042] [33,348] 130

35,625 49,109 [9,009] [18,106] 31,227 30,789 [6,233] [9,181] 7,465 [ ] [ ] 66,852 87,363 [15,242] [27,287] 66.987.4 30.7% 142239 [15.2][27.3] [79.6]% 111 155 5.01.4 6.428.0% 1.10.9 2.0 81.8% 53.3%56.2% [66.4]%35.6 49.1 [9.0] 131

[18.1]37.9% [101.1]% 46.7%35.2%[33.6]% 8.6% [7][58] 40,407 48,153 [8,973] [14,864] 10,382 11,572 [1,933] [2,771] 431 580 292 985 51,220 60,305 [11,198] [18,620] 51.2 9.160.3 17.7% [11.2] [7.4][18.6] [66.1]% 78.9%79.8%[79.8]% 132

% % % % 10,053 28.2% 18,224 37.1% [2,892] [32.1] [6,053] [33.4] 5,579 17.9% 6,501 21.1% [1,152] [18.5] [2,614] [28.4] 2,333 31.3% [] [] [] [] 15,632 23.4% 27,058 31.0% [4,044] [26.5] [8,667] [31.8] 27.1 15.6 73.1% [8.7] [4.0][117.5]% 23.4% 31.0% 1640% 10.0 133

[26.5]% [31.8]% 9.2% 1.4% 230,000155,000 75,000 67.4% 42,000 [34,000] [876,000] [910,000] 900,000 787,000 24.6% 2.40.8 3.2 33.3% [703,000] [104.1]% [0.5][0.6] [1.1][120.0]% 5.41.8 7.2 33.3% 134

[ ] 2.3 256,000 435,000 [1.0][3.9] [4.9][390]% 2.8[ ] 0.5 0.1 535,000306,000 229,000 57.2% 156,000 25% 12.5% 4.47.7 12.1177.7% 135

6.5%13.8% 11.4 2.6 [ ] 1.0 1.60.7 2.343.8% 10.6% 8.4%4.6 4.5 [ ] 12.0 [ ] 0.25.9 22.11.96.9 5 5.1 0.216.0 0.211.2 136

5,001 15,946 [(907)] (9,819) (3,717) 10,556 [8,154] [(208)] 1,637 (8,364) [(10,013)] (10,100) 2,921 18,138 [(2,766)] [(20,127)] (86) (1) [] [] 1,096 3,931 [3,931] [22,068] 3,931 22,068 [1,165] [1,941] 5.010.4 1.8 4.62.8 15.918.9 20.2 137

23.2 0.96.3 1.23.0 1.91.5 9.81.45.6 4.8 4.2 3.73.2 0.4 10.67.8 18.4 8.28.2 0.20.2 138

1.619.0 16.5 8.427.5 19.0 10.011.5 1.5 10.111.5 1.5 360 958 972 967 15,514 3,537 199 174 17,919 17,651 16,029 11,156 15,790 19,100 14,000 20,000 217 221 225 49,583 41,463 31,421 32,522 443 386 328 [ ] 11.2(i) 5.7(ii)[ ] 139

5.5[ (i)[ ] 5.7 (ii)[ ] 5.5 ] [ ] 8.217% 8.5905% 5.103%5.5755% 5.103% 5.5755% 7.6% 8% 7.3 8%11% 5.2 3.3 8% 2.6 14 19 14 20 553,000 140

20 5.5 4.0 1.5 5.0 4.0 20 0.4 8.5 0.2 6,657 396 1,078 36 71 13 692 3 197 432 8,498 [213] 141

13,347 [13,347] 13.3 [ ] 300 479 [430] 1,200 1,200 [1,200] 1,125 825 [750] 2,625 2,504 [2,380] 142

73 73 73 73 10,987 6,244 7,570 7,505 15,263 35,660 41,270 40,648 2,687 1,284 1,805 3,093 18,370 3,931 22,068 1,941 6,882 51,311 65,329 52,659 58,201 5,435 14,645 9,878 7,548 5,613 10,860 10,733 12,254 360 958 973 967 15,514 3,537 198 174 17,919 17,651 16,029 11,156 15,790 19,100 14,000 20,000 217 221 225 92 1,187 607 23 60,723 68,155 52,639 52,347 (9,412) (2,826) 20 5,854 9.46.6 2.8 70.0% 143

20,000 5.9 7.540.6 3.16.9 7.512.3 11.2 1.1 20.2 5.7 1 0.88 [ ] 5.5[ ] 7,093 2,983 [3,284] 157 761 [705] 3,737 2,500 [3,581] 10,987 6,244 [7,570] 86 52 33 144

365 90 0-180 [2,789] [705] [3,184] [6,678] [6,156] [522] 181-365 [57] [73] [130] [28] [102] 1-2 [237] [206] [443] [95] [348] 2 [201] [118] [319] [33] [286] [3,284] [705] [3,581] [7,570] [6,312] [1,258] 11.04.8 6.243.6% 6.2 1.4 7.622.6% 2.60.7 3.0 86 52 52 33 145

30 90 0 90 12,808 31,432 [30,440] 91 180 2,078 3,031 [9,531] 181 365 377 1,022 [895] 365 175 [404] 15,263 35,660 [41,270] 85 107 128 365 90 83.2% 120150 12,000 90 30 60 146

256,000 23 329,000 489,000 2.71.4 1.3 51.9% 1.3 0.5 1.838.5% 18.4 147

5 10.1 4.8 1.9 6.95.0 6.0 5.4 14.6 9.99.0%21.5%18.8% 0 90 4,486 13,552 [9,718] 91 180 841 974 [160] 181 365 97 [] 365 11 119 [] 5,435 14,645 [9,878] 55 61 59 365 190 90 148

3090 55 61 59 99.8% 961 738 [502] 1,242 2,905 [3,296] 1,051 2,872 [5,481] 840 1,829 [672] 1,519 2,516 [782] 5,613 10,860 [10,733] (i) (ii)(iii) 149

15.53.5 3.5 198,000 [ ] 7.3 8%11%5.2 10.6 3.3 8% 14.4 2.6 13.5 (1) 0.8 1.0 [1.0] (2) 0.7 0.9 [0.9] (3) 5.4% 12.1% [10.6%] (4) 62.1% 42.0% [36.7%] 1. 2. 3. 100% 4. 100% 150

1.0 0.8 0.9 0.7 12.1% 5.4%7.7 1317 10.6% 12.1% 42.0% 62.1%12 8.5 36.7% 42.0%3.3 5.0 1.6 [ ] [ ] 151

2.0 4,784,990 20% 152

20,000 8,021 3,191 (80) (18) 11,114 8,886 153

154

28 29 22 [ ] [21] I-1

[] Joystar (BVI) Automotive Interior Decoration Limited Joystar (BVI) Automotive Interior Decoration Limited 2 3.340 [2] 2410 I-2

[2] I-3

7 [66,852] [87,363] [15,242] [27,287] [(51,220)] [(60,305)] [(11,198)] [(18,620)] [15,632] [27,058] [4,044] [8,667] 8 [230] [75] [34] [910] [(3,193)] [(3,980)] [(675)] [(1,378)] [(5,364)] [(7,184)] [(1,031)] [(4,864)] [7,305] [15,969] [2,372] [3,335] 10 [(1,891)] [(1,809)] [(535)] [(229)] [5,414] [14,160] [1,837] [3,106] 13 [(1,062)] [(2,076)] [(221)] [(802)] 14 [4,352] [12,084] [1,616] [2,304] 17 [2.9 ] [8.1 ] [1.1] [1.5] I-4

[4,352] [12,084] [1,616] [2,304] [746] [7] [22] [2] [5,098] [12,091] [1,638] [2,306] I-5

18 24,702 30,608 [30,039] 19 3,209 3,136 [3,118] 20 110 180 [180] 30 534 634 [674] 28,555 34,558 [34,011] 19 73 73 [73] 22 10,987 6,244 [7,570] 23 15,263 35,660 [41,270] 24 2,687 1,284 [1,805] 36(c) 18,370 [] 25 3,931 22,068 [1,941] 51,311 65,329 [52,659] 26 5,435 14,645 [9,878] 27 5,613 10,860 [10,733] 36(c) 360 958 [973] 36(c) 15,514 3,537 [198] 36(c) 17,919 17,651 [16,029] 28 15,790 19,100 [14,000] 29 217 [221] 92 1,187 [607] 60,723 68,155 [52,639] (9,412) (2,826) [20] 19,143 31,732 [34,031] 30 192 247 [297] 29 443 [386] 192 690 [683] 18,951 31,042 [33,348] 31 1,064 1,064 [1,064] 32 17,887 29,978 [32,284] 18,951 31,042 [33,348] I-6

21 1 1 1 1 31 1 1 1 1 I-7

32(b)(i) 32(b)(ii) 1,064 1,894 1,023 9,872 13,853 746 4,352 5,098 616 616 746 616 3,736 5,098 1,064 2,640 1,639 13,608 18,951 7 12,084 12,091 1,379 (1,379) 7 1,379 10,705 12,091 1,064 2,647 3,018 24,313 31,042 [2] [2,304] [2,306] [1,064] [2,649] [3,018] [26,617] [33,348] [1,064] [2,640] [1,639] [13,608] [18,951] [22] [1,616] [1,638] [1,064] [2,662] [1,639] [15,224] [20,589] I-8

[5,414] [14,160] [1,837] [3,106] [1,891] [1,800] [535] [217] [] [8] [] [12] [(16)] [(9)] [(1)] [(5)] [256] [] [] [] [] [1] [] [] [395] [328] [59] [24] [2,383] [2,570] [602] [782] [73] [73] [18] [18] [] [(27)] [(27)] [] [10,396] [18,904] [3,023] [4,154] [1,831] [4,415] [1,908] [(1,350)] [162] [(20,397)] [(6,320)] [(5,610)] [118] [1,402] [491] [(521)] [(4,589)] [9,210] [1,518] [(4,767)] [(127)] [5,245] [(1,165)] [(146)] [7,791] [18,779] [(545)] [(8,240)] [(1,891)] [(1,800)] [(362)] [(194)] [] [(8)] [] [(12)] [(899)] [(1,025)] [] [(1,373)] [5,001] [15,946] [(907)] [(9,819)] I-9

[(110)] [(70)] [] [] [16] [9] [1] [5] [(432)] [(7,802)] [(116)] [(213)] [] [49] [49] [] [(3,191)] [18,370] [8,220] [] [(3,717)] [10,556] [8,154] [(208)] [14,000] [19,000] [1,500] [1,500] [(16,500)] [(14,000)] [(1,500)] [(6,500)] [] [(35)] [] [(53)] [4,982] [(11,977)] [(9,247)] [(3,339)] [] [599] [(44)] [15] [(805] [(1,451)] [(722)] [(1,623)] [(40)] [(200)] [] [(100)] [] [(300)] [] [] [1,637] [(8,364)] [(10,013)] [(10,100)] I-10

[2,921] [18,138] [(2,766)] [(20,127)] [(86)] [(1)] [] [] [1,096] [3,931] [3,931] [22,068] [3,931] [22,068] [1,165] [1,941] [3,931] [22,068] [1,165] [1,941] I-11

1. Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands 28 [21] 2. [ Joystar (BVI) Automotive Interior Decoration Limited 5 ] 3. 4. [ ] [ ] 5 I-12

(a) (i) (ii) (b) I-13

I-14 (c) (i) (ii) (iii) (d)

I-15 30 12 8 6 5 (e) (i) (ii) (f) (g) (h)

(i) (j) (k) 4l) 4(n) (l) (m) (n) I-16

(o) (p) (i) (ii) (iii) (q) I-17

I-18 (r) (s) (t) (i) (ii) (iii) (iv) (v) (i) (iv)

(vi) (vii) (iv) (v) (u) (v) (w) I-19

5. (a) (b) (c) 6. (a) (b) I-20

[48%] [56%][58%][24%][16%][16%] (c) [5,435] [5,435] [5,435] [] [] [5,613] [5,613] [5,613] [] [] [360] [383] [383] [] [] [15,514] [15,514] [15,514] [] [] [17,919] [18,384] [18,384] [] [] [15,790] [16,449] [16,449] [] [] [14,645] [14,645] [14,645] [] [] [10,860] [10,860] [10,860] [] [] [958] [958] [958] [] [] [3,537] [3,537] [3,537] [] [] [17,651] [17,913] [17,913] [] [] [19,100] [19,492] [19,492] [] [] [660] [736] [260] [260] [216] [9,878] [9,878] [9,878] [] [] [10,733] [10,733] [10,733] [] [] [973] [973] [973] [] [] [198] [198] [198] [] [] [16,029] [16,029] [16,029] [] [] [14,000] [14,263] [14,263] [] [] [607] [671] [260] [260] [151] I-21

(d) 100 [ 87,000 ][ 12,000 ] [ 111,000 ] (e) [39,453] [57,956] [43,541] [60,631] [66,751] [51,811] (f) 7. 8. [16] [9] [1] [5] [148] [] [] [] [42] [] [] [] [] [27] [27] [] [] [900] [24] [39] [6] [5] [230] [75] [34] [910] I-22

9. 4 10% A [19,215] [17,325] [4,435] [4,849] B [10,928] [15,449] [2,595] [5,565] C [] [9,400] [ ] [3,532] D [] [] [] [2,759] 10. [1,223] [1,039] [214] [209] 36(b) [540] [689] [284] [] [128] [72] [37] [8] [1,891] [1,800] [535] [217] [] [8] [] [12] [] [1] [] [] [1,891] [1,809] [535] [229] I-23

11. [] [72] [23] [95] [] [] [] [] [] [] [] [] [] [60] [23] [83] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [132] [46] [178] [] [72] [24] [96] [] [] [] [] [] [] [] [] [] [60] [23] [83] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [132] [47] [179] I-24

[] [30] [12] [42] [] [] [] [] [] [] [] [] [] [30] [12] [42] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [60] [24] [84] [] [18] [7] [25] [] [] [] [] [] [] [] [] [] [15] [4] [19] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [] [33] [11] [44] I-25

[159] [159] [39] [134] [60] [62] [16] [10] [219] [221] [55] [144] 1,000,000 [204,000] 12. 13. [990] [2,120] [241] [792] 30 [72] [(44)] [(20)] [10] [1,062] [2,076] [221] [802] I-26

Joystar (BVI) Automotive Interior Decoration Limited 33% 30%3 % 33% 25% 50% 50% 12.5% [5,414] [14,160] [1,837] [3,106] 25% [1,353] [3,540] [459] [776] [177] [322] [30] [485] [194] [56] [] [50] [(648)] [(2,042)] [(268)] [(771)] [(14)] [200] [] [262] [1,062] [2,076] [221] [802] 10% 25% 5% [2008]1 5% I-27

14. (a) [2,383] [2,570] [602] [782] [24] [26] [12] [15] 11 [178] [179] [44] [84] (b) [300] [322] [78] [119] [51,174] [60,239] [11,186] [18,606] (c) [431] [580] [292] [1,039] (d) [5,183] [5,348] [982] [1,853] [1,866] [2,105] [410] [683] [7,049] [7,453] [1,392] [2,536] [256] [] [] [] [395] [328] [59] [24] (a) (b) (c) (d) [1,759,000] [1,847,000][437,000][578,000] [300,000] [317,000][78,000][75,000] [431,000] [580,000][292,000][958,000] [3,854,000] [4,698,000][821,000][1,386,000] 15. 16. 17. [ [150,000,000] [3,800,000][ ] [146,200,000] ] I-28

18. [9,640] [20,215] [382] [501] [815] [455] [32,008] [] [414] [] [] [41] [(455)] [] [] [] [396] [36] [] [] [432] [9,640] [20,629] [778] [537] [856] [] [32,440] [] [6,657] [1,078] [71] [692] [] [8,498] [] [(32)] [] [] [] [] [(32)] [9,640] [27,254] [1,856] [608] [1,548] [] [40,906] [] [] [] [13] [3] [197] [213] [9,640] [27,254] [1,856] [621] [1,551] [197] [41,119] [897] [3,658] [134] [206] [460] [] [5,355] [321] [1,716] [88] [87] [171] [] [2,383] [1,218] [5,374] [222] [293] [631] [] [7,738] [321] [1,805] [120] [93] [231] [] [2,570] [] [(10)] [] [] [] [] [(10)] [1,539] [7,169] [342] [386] [862] [] [10,298] [80] [568] [58] [25] [51] [] [782] [1,619] [7,737] [400] [411] [913] [] [11,080] [8,021] [19,517] [1,456] [210] [638] [197] [30,039] [8,101] [20,085] [1,514] [222] [686] [] [30,608] [8,422] [15,255] [556] [244] [225] [] [24,702] 28 [ ] [1,055,000] [1,022,000] I-29

19. [3,355] [3,282] [3,209] [(73)] [(73)] [(18)] [3,282] [3,209] [3,191] [(73)] [(73)] [(73)] [3,209] [3,136] [3,118] 28 20. [3][2 5 ] [1.75 5 ] 21. [] [1] [1] I-30

Joystar (BVI) Automotive Interior Decoration Limited 1 [100%] [100%] [100%] [1,000,000] 1 [100%] [100%] [100%] [100%] 4,000,000 [100%] [100%] [100%] [100%] 22. [7,093] [2,983] [3,284] [157] [761] [705] [3,737] [2,500] [3,581] [10,987] [6,244] [7,570] 23. 30 90 I-31

0 90 [12,808] [31,432] [30,440] 91 180 [2,078] [3,031] [9,531] 181 365 [377] [1,022] [895] 365 [] [175] [404] [15,263] [35,660] [41,270] [256,000][][] [] [256] [256] [256] [] [] [256] [256] [256] 256,000 3,806,0005,813,000[16,832,000] 0 90 [3,361] [4,523] [15,036] 91 180 [307] [702] [834] 181 365 [138] [553] [847] 365 [] [35] [115] [3,806] [5,813] [16,832] I-32

24. [718] [189] [221] [112] [811] [1,296] [1,857] [284] [288] [2,687] [1,284] [1,805] 25. 3,922,00020,210,000 [1,247,000] 26. 0 90 [4,486] [13,552] [9,718] 91 180 [841] [974] [160] 181 365 [97] [] [] 365 [11] [119] [] [5,435] [14,645] [9,878] 3090 I-33

27. [961] [738] [502] [1,242] [2,905] [3,296] [1,051] [2,872] [5,481] [840] [1,829] [672] [1,519] [2,516] [782] [5,613] [10,860] [10,733] 28. [14,000] [19,000] [14,000] 36(c) [300] [] [] [1,490] [100] [] [15,790] [19,100] [14,000] [15,790] [19,100] [14,000] [7.55%] [5.88%] [5.48%] [7.38%] [6.00%] [] [7.40%] [5.16%] [] I-34

36(b)[5,000,000] (a) (b) 8,422,0008,101,000 [8,021,000] [3,282,000][3,209,000] [3,191,000] 29. [] [260] [260] [] [476] [411] [] [736] [671] [] [(76)] [(64)] [] [660] [607] [] [217] [221] [] [443] [386] [] [660] [607] 12 [] [(217)] [(221)] 12 [] [443] [386] 2.83[2.58] 7.6% [7.6%] I-35

36(b) 30. [37] [10] [23] [342] [] [412] 13 [(25)] [9] [4] [134] [(194)] [72] [] [] [] [] [2] [2] [12] [19] [27] [476] [(192)] [342] 13 [(12)] [(19)] [4] [127] [(56)] [44] [] [] [] [] [1] [1] [] [] [31] [603] [(247)] [387] 13 [] [] [1] [39] [(50)] [(10)] [] [] [32] [642] [(297)] [377] [534] [634] [674] [(192)] [(247)] [(297)] [342] [387] [377] I-36

31. 1,000,000 1 1,000,000 1,000,0001 1,000,000 380,000 0.103,800,000 [3,799,999][ ] 0.10[9,996,200,000] 380,000 [1,000,000,000] 32. (a) (b) (i) 4(c)(iii) (ii) I-37

33. (a) (b) [696,000] [1,190,000] [810,000] 34. [] [13,347] [13,347] 35. [300] [479] [430] [1,200] [1,200] [1,200] [1,125] [825] [750] [2,625] [2,504] [2,380] [10][4][4] I-38

36. (a) Zhu XiuduanZhu * * * Ocean Industries (HK) Holdings Co Ltd Ocean Industries [ ] # Ocean Industries * # I-39

(b) (i) [158] [] [] [] (i) [36] [] [] [] (i) [697] [392] [23] [] (i) [55] [115] [] [] (i) [486] [406] [] [] (i) [329] [415] [104] [] (i) [48] [89] [36] [] (i) [] [96] [90] [] (i) [98] [] [] [] (i) [65] [32] [16] [] (i) [] [57] [38] [] (i) [150] [] [] [] (i) [] [2,827] [] [] (i) [] [512] [] [] (ii) [] [5,000] [] [] Zhu [] [660] [] [607] [] [] [] [24] (i) (ii) I-40

(c) (i) & (vi) [18,370] [] [] (vi) [] [2,827] [] (vii) [15,316] [512] [] Ocean Industries [198] [198] [198] (ii) [15,514] [3,537] [198] (iii) [360] [958] [973] [5,190] [3,277] [2,567] [9,635] [10,627] [10,187] [] [1,756] [1,784] [810] [] [] [2,284] [1,991] [1,491] (iv) [17,919] [17,651] [16,029] (v) [300] [] [] (i) (ii) (iii) 161B [20,701,000] [18,370,000] 8% I-41

(iv) [ 5,190,000 880,0001,000,000810,000 400,0008%11%8%8% 5,190,000 880,000810,000 400,000 11,626,000 3,277,000 8% 14,874,000 ] [2,567,000] [14,462,000] (v) (vi) 8% 15,179 18,370 (2,827) 186 (64) (134) (2,827) (150) 18,730 14,034 (15,511) (32,270) 2,827 18,370 (2,827) (vii) 5,817 15,316 512) (816) (458) 569 475 512 13,145 17,246 (3,399) (32,579) (512) 15,316 512 I-42

(d) 11 37. (a) [ ] [ ][ ] [ ] [ ] [ ] (b) [[] [] ] 38. [ ] I-43

[ ] RHL Appraisal Limited T +852 2730 6212 F +852 2736 9284 [] III-1

[ ] [ ] III-2

III-3

88 1003 Thomas H.M. Lam FHKIS, AAPI, MRICS, RPS (GP), MBA (HKU) Msc. BSc MHKIS MRICS RPS (GP) [ ] III-4

19 Thomas H.M. Lam10 Lam III-5

[ ] 1. 28 [20,000,000] [20,000,000] [ ] 2. 81 III-6

[ ] 3. 88 10 1003 [20,000,000] III-7

[ ] 1. 28 4 12,488.13 19,986.7 [20,000,000] 20 1. (2004) 375 19,986.7 2. 12,488.13 65022628 8,014.83 65032808 4,473.30 12,488.13 3. 4. (i) (ii) (iii) III-8

[ ] 2. 81 2,400 10 1. 10 150,000 2. 3. (i) (ii) (iii) III-9

[ ] 3. 88 10 1003 1910 2,050 1 1. 2. 116,400 3. III-10

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

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

(aa) (bb) IV-3

(cc) (dd) (ee) 5% (ff) (vi) IV-4

(vii) IV-5

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

(viii) (ix) (x) (30) (b) (c) (i) (ii) IV-7

(iii) (iv) (v) (d) IV-8

(e) (21)(10) [ ] (95%) (21) (10) (15) (f) IV-9

[ ] (g) (15) (18)[ ] (h) (21) [ ] IV-10

(i) (21)(20) (e) (21)(10) (14)(10) [ ] (i) (ii) 95% (aa) (bb) IV-11

(cc) (dd) (ee) (ff) 20% (gg) (j) [ ] IV-12

[] [ ] (30) (k) [ ] (l) [ ] (m) IV-13

(i) (ii) (a) (b) IV-14

(n) (o) (20) (14) IV-15

(20) (p) (2) 2.50 1.00 (q) IV-16

(r) 3(f) (s) (i) (ii) (t) (i) 12 (ii)12 (iii)[ ] (3)[ ] IV-17

[ ] (u) 3. (a) (b) (a)(b) IV-18

(c)37(d) (e) (f) (c) (d) IV-19

(e) 34 34 2(m) (f) (a)(b) (c) (a)(b) (c) (d) IV-20

(g) (h) (i) (ii)(iii) (i) (j) 6 (1) (2) IV-21

(k) (l) (m) (n) IV-22

(28) (21) IV-23

(o) (75%) (p) (4) (90%) (4) (2) (1) (q) 4. Conyers Dill & Pearman IV-24

1. XI 88 1003 [ ] 2. (a) 380,0003,800,000 0.10Codan Trust Company (Cayman) Limited1 (b) Codan Trust Company (Cayman) Limited1 (c) Joystar BVI Joystar BVI [ ] (i) Joystar BVI Joystar BVI1(ii) 1 (iii) [377,720][1,030,939][2,023,120][199,120][169,100] (d) [][](i) (ii) V-1

[ ] [ ] [ ] [ ] [ ] [ ] 3. [ ] [ ] (a) (i)[ ] [ ] [ ] [ (ii) [ ] [ ] [ ] [ ][ ] [ ] (i) [ ] [ ] (ii) (i)(ii)[] (iii) (iv) (v)[] [ ] (vi) V-2

(b) [ ] 20% [ ] (c) [ ] [ ] [ ] [ ] 10% (d) (c) (b) [ ] 10% V-3

(e) [ ] 14,620,000[] [ ] (f) [ ] 0.10380,000 [ ] (g) (b(c) (d) (1) (2) (3) 4. 5. [ [ ] ] V-4

6. [ ] (a) [ ] [ ] [ ][] [ ] (i) [][] [ ] 10% (i) (ii) (iii) (ii) [] [ ] [ ] V-5

(iii) [ ] (b) (c) [ ] (d) [ ] [ ] [ ] 26 V-6

[[] ] 1. [ ] 1. [Joystar BVI Joystar BVI (i) Joystar BVIJoystar BVI1(ii) 1(iii) [3,799,999]] 2. [] [ ] 3. [ ] 4. [ ] 5. [ ] V-7

2. (a) 24 4699785 27 4699784 12 301504935 17 301504935 27 301504935 12 17 27 V-8

(b) ZL200920045279.X ZL200920045287.4 ZL200920045298.2 ZL200920045289.3 ZL200920045300.6 ZL200920045291.0 ZL200920045299.7 ZL200920045301.0 ZL200920045280.2 ZL200920045290.6 ZL200920045288.9 ZL200920045302.5 ZL200610038553.1 200910232341.0 V-9

(c) www.joystar.com.hk a. [ ] [ ] 900,000 720,000 360,000 240,000 360,000 60,000 102,000 60,000 V-10

b. (i) (ii) [95,000][96,000] [42,000] [ ] [83,000][83,000] [42,000] [ 1,020,000 ] 1. (a) [ ] [ ] XVXV78 [ ] 352 V-11

[ ] [ ] [ ] [ ]% [ ] [ ]% [ ] [ ]% (b) XV2 3 [ ] (a) XV23 10% [ ] [ ]% [ ] [ ]% [ ] [ ]% V-12

2. (a) [ ] XV23 10% (b) XV XV78 [ ] 352[ ] [ ] [ ] [ ] (c) [] (d) (e) [ ] (i) (ii) V-13

(f [[ ] 5% ] 1. (i) [ ] (ii) (iii) (ii) (iv) (a) V-14

(b) (c) (d) (i) (i)ii) (iii) (a) (b) (c) (d) V-15

(e) (ii) (iv) (a) (b) [ ] [ ] 2. 3. 4. [ ] [ ] [ ] [ ] V-16

5. 6. 44A 44B 7. [ ] (a) (b) (c) (d) (e) [ ] (f) [ ] [ ] (g) V-17

8. [ ] 1 6 Conyers Dill & Pearman 9. [ ] Conyers Dill & Pearman V-18

[ (i) [ ] ] (ii) (aa) (bb) (cc) (dd) (ee) (ff) (gg) V-19

(iii) (aa) []10% [][] [ ] [ ] (bb) (aa)(cc) 10% [ ] [ ] (cc) (aa)(bb) (bb) [ ] [ ] V-20

(iv) (iii) 12 1%12 (v) (aa) (bb) 12 (i) 0.1% (ii) 5 (vi) 28 V-21

10 (vii) (viii) (i) [ ] (ii)[ ] (iii) 1 (ix) (aa) (bb) V-22

(x) (aa) [ ] (bb) [ ] [ ] [ ] [ ] (xi) (xii) (xiv) (xiii) 12 V-23

(xiv) (xv) (xvi) (xvii) V-24

(xviii) (i) (ii) [ ] [ ] (xix) (xx) V-25

(xxi) (xxii) (aa) (vi) (bb) (xii)(xiii)(xiv)(xv)(xvi)(xvii) (xviii) (xxiii) (aa) [][] 10%20,000,000 (bb) [] (cc) (dd) [ ] (xxiv) [ ] V-26