COMBEST HOLDINGS LIMITED * 2011
2011 1
2011 3 4 5 8 13 15 22 27 29 30 32 33 35 37 100 2
2011 32-40 24 M-N Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands CPA, FCCA HSBC Trustee (Cayman) Limited P.O. Box 484 HSBC House 68 West Bay Road Grand Cayman KY1-1106 Cayman Islands 183 46 8190 3
2011 100% Diamond Globe Investments Ltd. 100% 55% Well Sources Enterprises Limited 100% 100% 100% 100% 100% 100% 100% * * * * * 4
2011 338,754 45,331 146,720 338,754 192,051 69,550 (6,431) (267,406) 69,550 (273,837) 2.21 (0.26) (10.79) 2.21 (11.05) 50% 100% 100 23 77 5
2011 2,500 3,700 23 6
2011 7
2011 (i)(ii) 338,754,000647.3% 34% 17.4% 12,474,000274.6% 6,600,000 1,200,000 30,365,000263.7% 6,500,000 3,300,0002,100,000 106,000 32,600,000 99.7% 3,070,000 8
2011 48,062,000 5,045,00072,488,000 20,137,000 0.9% 26.6% (i) (ii) (iii) (iv)50% 97,650,00080,000,000 200,000,000 17,650,000 9
2011 22,595,000 22,595,000 21,759,000 7,243,00014,516,000 (i) (ii) 50% 100% 100 23 77 10
2011 1. 2. 11
2011 12
2011 43 10 38 14 59 Luxking Group Holdings Limited Pan Hong Property Group Limited Sunray Holdings Limited 46 303 TSC 13
2011 71 67 1116 929 44 20 43 2017 50 14
2011 (i) (ii) 50% 100% 100 23 77 29 99 100 13 15
2011 17 25 27 27 % 35 58 29 48 5% 16
2011 108(A)111 13 14 17
2011 32 XV XV 7 8 352 A. 33610% Dream Star International Limited Dream Star 1 474,285,714 14.81% Famous Kindway Limited Famous Kindway 1 299,980,000 9.37% Kiyuhon Limited Kiyuhon 1 103,630,000 3.24% 774,265,714 24.18% 18
2011 1 877,895,714 27.42% Shing Lee Holding Limited Shing Lee 2 650,000,000 20.30% Diamond Highway Limited Diamond Highway 2 39,714,286 1.24% 2 689,714,286 21.54% 1. 474,285,714 299,980,000 103,630,000Dream Star Famous Kindway Kiyuhon Dream Star Famous Kindway Kiyuhon 2. 650,000,000 39,714,286 Shing Lee Holding Limited Shing Lee Diamond Highway Limited Diamond Highway Shing Lee Diamond Highway Shing Lee Diamond Highway 19
2011 B. 336 5% 1 Cytech Investment Limited Cytech Investment 3 164,500,000 5.14% Benep Management Limited Benep 3 164,500,000 5.14% 3 164,500,000 5.14% Pioneer Idea Finance Limited Pioneer 4 164,500,000 5.14% 4 164,500,000 5.14% Treasure Focus Enterprises Limited Treasure 5 218,000,000 6.81% 5 218,000,000 6.81% 20
2011 1 243,360,000 7.60% Brow Crown International Limited Brow Crown 2 197,000,000 6.15% 2 198,000,000 6.18% 1. 2. 197,000,000Brow Crown Brow Crown 3. 164,500,000Cytech Investment Cytech Investment BenepBenep Benep Cytech Investment 4. 21.25% 36.52%Hebe Finance Limited PioneerHebe Finance Limited Pioneer Pioneer 5. 218,000,000Treasure Treasure Treasure 21
2011 1. 2. 3. 4. 5. 6. 7. 8. 5.485.67 1713 14 22
2011 8/8 8/8 4/8 4/8 4/8 1/8 5.015.02 14 23
2011 A.2.1A.2.1 5.285.33 24
2011 4/4 4/4 4/4 1/4 1/1 1/1 1/1 0/1 25
2011 680,000 579,000 26
2011 29 99 27
2011 P05412 28
2011 5 338,754 45,331 (223,501) (37,438) 115,253 7,893 5 8,194 23,938 (12,474) (3,330) (30,365) (8,350) (106) (32,600) 7 (3,070) 176 8 80,502 (15,343) 9 (10,819) 5,497 69,683 (9,846) 31 (260,476) 69,683 (270,322) (12) (5,954) 2,622 477 72,293 (275,799) 69,550 (273,837) 133 3,515 69,683 (270,322) 71,945 (274,758) 348 (1,041) 72,293 (275,799) 12 2.21 (11.05) 2.21 (0.26) 29
2011 13 12,852 3,000 14 21,535 15 176,292 86,600 16 61,788 15,993 250,932 127,128 18 48,589 14,095 19 3,512 6,621 29,281 30,006 20 7,237 21 48,062 5,045 129,444 63,004 22 20,204 3,145 30,644 6,630 23 1,744 24 3,576 30,573 2,532 775 56,956 42,867 72,488 20,137 323,420 147,265 30
2011 23 18,273 34 44,073 21,650 44,073 39,923 279,347 107,342 25 30,860 28,216 27 246,529 77,516 277,389 105,732 1,958 1,610 279,347 107,342 31
2011 17 1 1 17 184,243 97,937 20 1,486 184,243 99,423 2,988 2,424 181,255 96,999 181,256 97,000 25 30,860 28,216 27 150,396 68,784 181,256 97,000 32
2011 80,502 (15,343) (259,110) 80,502 (274,453) 242 6,528 268 1,329 3,317 (22) (54) 121 2,885 (5,547) (22,979) (100) 106 7,877 8,664 291,936 (176) 83,017 17,427 (33,598) (3,270) 3,135 13,390 2,314 10,456 17,041 (2,437) 10,407 15,158 1,436 83,752 50,724 22 54 (10,694) (1,050) 73,080 49,728 33
2011 (11,002) (1,427) (3,422) 33 (3,456) 33 (11,195) 6,498 30 (3) (30,916) 7,237 (7,237) (18,419) (36,504) 34,183 (242) (18,350) (92,400) (20,017) 20,017 (25,673) (6,388) (11,507) (97,363) 43,154 (84,139) 5,045 88,707 (137) 477 48,062 5,045 34
2011 * * * * 28,216 322,469 265 333 (245,551) 105,732 1,610 107,342 25 2,644 97,068 99,712 99,712 69,550 69,550 133 69,683 30(a) (12) (12) (12) 2,407 2,407 215 2,622 2,395 69,550 71,945 348 72,293 8,003 (8,003) 30,860 419,537 8,268 2,728 (184,004) 277,389 1,958 279,347. 35
2011 * * * * * 23,992 224,895 16,100 6,124 72,040 (15,525) 327,626 87,232 414,858 25 4,224 97,574 101,798 101,798 (16,810) (10,621) 16,810 (10,621) (84,581) (95,202) (38,313) (38,313) (38,313) 4,224 97,574 (16,810) (48,934) 16,810 52,864 (84,581) (31,717) (273,837) (273,837) 3,515 (270,322) 30(b) (5,954) 4,870 (1,084) (4,870) (5,954) 163 163 314 477 (5,791) (268,967) (274,758) (1,041) (275,799) 975 (975) (23,106) 23,106 28,216 322,469 265 333 (245,551) 105,732 1,610 107,342 * 246,529,000 77,516,000 36
2011 1. 22 3 Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands32-40 24 M-N 17 2. 32 2 19 5 9 9 939 939 37
2011 3. 3.1 2999 2 4 3.2 3.3 38
2011 3. 3.2 12 (i) (ii) 39 39
2011 3. 3.3 3.4 3.5 40
2011 3. 3.5 3.6 20-35 5 20% 10%-33% 10%-33% 10%-25% 41
2011 3. 3.6 3.7 3.9 3.8 2 10 3.9 42
2011 3. 3.9 43
2011 3. 3.10 44
2011 3. 3.10 3.11 3.12 45
2011 3. 3.13 3.14 46
2011 3. 3.15 3.16 3.17 47
2011 3. 3.17 3.18 (i) (ii) 48
2011 3. 3.19 49
2011 3. 3.19 (a) (b) (a) (b) (i)(ii) 3.20 50
2011 3. 3.21 (i) (ii) (iii) (iv) (v) (i) (vi) 51
2011 3. 3.22 4. (i) (ii) 52
2011 4. (iii) (iv) 3.9 (v) (vi) 53
2011 5. 338,754 45,331 146,720 338,754 192,051 350 350 22 24 30 22 54 131 559 131 559 585 160 3,811 585 3,971 1,909 216 3 1,909 219 2,647 959 4,194 2,647 5,153 22,979 22,979 100 100 5,547 5,547 5,547 22,979 100 5,547 23,079 8,194 23,938 4,294 8,194 28,232 54
2011 6. (a) (b) 315,152 8,000 23,602 37,331 338,754 45,331 85,572 3,012 2,357 (31,429) 87,929 (28,417) 987 342 1,503 1,329 1,503 6,528 6,528 23,936 23,936 8,664 8,664 321,333 119,873 10,981 36,442 332,314 156,315 153,317 102,940 152 153,317 103,092 44,892 6,677 2,968 643 47,860 7,320 55
2011 6. 338,754 45,331 * 146,720 338,754 192,051 87,929 (28,417) 22,979 6 759 (3,070) (7,433) (7,770) 176 80,502 (15,343) * 332,314 156,315 21,535 48,062 12,282 380,376 190,132 47,860 7,320 2,532 775 44,073 21,650 6,564 53,045 101,029 82,790 56
2011 6. 315,152 15,788 250,932 127,128 13,695 169,856 4,686 4,175 5,595 1,046 812 338,754 192,051 250,932 127,128 118,845,000 10% 7. 185 57 242 2,885 2,885 3,070 57 3,127 57
2011 8. 223,501 37,438 126,558 223,501 163,996 579 418 579 418 6,528 6,528 268 268 1,329 1,503 1,814 1,329 3,317 1,158 1,158 30 106 7,877 106 7,877 23,936 268,000 291,936 8,664 8,664 3,352 597 1 3,352 598 121 121 29(a) 22,404 7,238 14,497 22,404 21,735 191 5 19 191 24 22,595 7,243 14,516 22,595 21,759 58
2011 9. 51 51 12,451 900 1,315 12,451 2,215 12,451 900 1,366 12,451 2,266 (1,632) (6,397) (1,632) (6,397) 10,819 (5,497) 1,366 10,819 (4,131) 80,502 (15,343) (259,110) 80,502 (274,453) 20,751 (44,489) 773 (11,490) (3,135) 2,026 55,051 (1,815) (5,161) (6,397) 574 10,819 (4,131) 59
2011 9. 12.5%25% 10. 7,057,000 188,513,000 27 11. 12. (1) 69,550 (273,837) 3,141,349 2,477,076 60
2011 12. (2) 69,550 (273,837) (267,406) 69,550 (6,431) (3) 10.79 267,406,000 61
2011 13. 72,171 375 46,032 524 2,753 3,856 125,711 (3,097) (87) (7,420) (120) (660) (502) (11,886) 69,074 288 38,612 404 2,093 3,354 113,825 69,074 288 38,612 404 2,093 3,354 113,825 3,444 71 183 3,698 727 516 52 47 85 1,427 30(b) (69,233) (269) (28,871) (384) (1,960) (3,252) (103,969) (568) (19) (2,469) (17) (137) (107) (3,317) (8,664) (8,664) 2,568 126 43 263 3,000 5 12,241 151 55 268 12,720 (5) (9,673) (25) (12) (5) (9,720) 2,568 126 43 263 3,000 2,568 126 43 263 3,000 33 300 300 1,712 964 213 8,113 11,002 4,683 (4,683) (121) (121) (528) (499) (252) (9) (41) (1,329) 4,155 3,781 1,017 34 435 3,430 12,852 4,683 13,953 1,294 55 481 3,430 23,896 (528) (10,172) (277) (21) (46) (11,044) 4,155 3,781 1,017 34 435 3,430 12,852 62
2011 13. 16(c) 8,664,000 14. 12,799 12,799 8,736 8,736 (21,535) 21,535 500,000 50 63
2011 14. 2,760 (2,838) 4,577 (309) 50% 33(a) 15. 33(e) 86,600 86,600 86,600 86,600 33(a) 31,700 31,700 33(b) (c) 34,540 29,980 64,520 (6,528) (6,528) 121,140 55,152 176,292 3% 26% 64
2011 16. 15,993 291,436 33(a) 37,597 33(b) (c) 8,198 16,493 (291,936) 61,788 15,993 (a) 61,788 15,993 (b) 268,000 (c) 23,936 a. 3%26% b. 108,229,000 268,000,000 30(b) c. 16.5% 23,936,000 65
2011 17. 1 1 439,104 352,798 (254,861) (254,861) 184,243 97,937 Diamond Globe Investments Ltd. 100 100 1 100 3,380,600 100 5,000,000 66
2011 17. 100 1,000,000 100 500,000 500,000 100 1,000,000 100 Well Wisdom Limited 10,000 100 1 Well Sources Enterprises Limited 50,000 55 1 55 10,000,000 67
2011 18. 13,708 1,474 8,017 636 26,864 11,985 48,589 14,095 19. 0 30 815 1,785 31 90 2,010 4,253 91 360 687 583 3,512 6,621 30 90 68
2011 19. 849 2,948 1 90 2,464 3,673 91 360 199 3,512 6,621 20. 161B 7,237,000 1,486,000 7,237,000 1,486,000 69
2011 21. 48,062 5,045 43,216,000 2,123,000 22. 0 30 7,360 3,067 31 90 3,675 72 91 360 9,150 5 360 19 1 20,204 3,145 23. (i) 1,744 (ii) 18,273 20,017 (i) (ii) 3 181,000 70
2011 24. 2,140 30,573 1,436 3,576 30,573 25. 0.01 20,000,000 210,000 20,000,000 210,000 0.01 2,896,500 28,216 2,416,500 23,992 (a) 205,000 1,789 480,000 4,224 (b) 100,000 855 3,201,500 30,860 2,896,500 28,216 71
2011 25. (a) Treasure Focus Enterprises Limited Silver Sail Investment Limited 200,000,000 5,000,000 33(a) 33(b) 33(c) 0.3650.4265,529,000 1,789,00063,740,000 0.24 Glory Path Management Limited 210,000,000 270,000,000480,000,0000.01 101,798,000 (b) 0.40100,000,000 855,00033,328,000 26. 30% 10% 12 1% 72
2011 26. 12 0.1%5,000,000 1 (i) (ii) (iii) 27. 10% 50% 35 73
2011 27. 224,895 (18,962) 72,040 (68,643) 209,330 25 97,574 97,574 (10,621) (10,621) (38,313) (38,313) 97,574 (48,934) 48,640 (188,513) (188,513) (673) (673) (673) (188,513) (189,186) (23,106) 23,106 322,469 (19,635) (234,050) 68,784 25 97,068 97,068 (7,057) (7,057) (8,399) (8,399) (8,399) (7,057) (15,456) 419,537 (28,034) (241,107) 150,396 74
2011 28. 9,412 354 12,710 355 52 22,174 709 29. (a) 161 * 325 325 507 10 517 515 11 526 ** 1,218 10 1,228 291 3 294 1,725 20 1,745 1,131 14 1,145 123 123 127 127 123 123 127 127 # 113 113 127 127 ## 43 43 402 402 381 381 # 10 10 412 1,725 20 2,157 381 1,131 14 1,526 75
2011 29. (a) * ** # ## (b) 1,433 878 1,000,000 866,000 1 2 1,000,0011,500,000 866,0011,299,000 1 2 2 76
2011 30. (a) Well Base Enterprises Limited Well Base Well Base 3 115 118 (12) (106) Well Base (3) (b) Highway Bright Holdings Limited Highway Bright Highway Bright122,988,000 60,000,000 52,800,000Cytech Investment Limited 52,019,000 45,776,000CytechHighway BrightODM 77
2011 30. (b) 13 103,969 11,000 48,774 83,716 94,217 13,990 18,924 2 (43,865) (88,178) (23,484) (1,500) (7,707) (11,077) (84,581) 114,200 (5,954) Cytech (i) (620) (ii) (1,173) (7,877) 98,576 52,800 Cytech (i) 45,776 98,576 78
2011 30. (b) Highway Bright 52,800 (83,716) (30,916) (i) 45,776,000 Cytech Highway Bright 92,400,000Highway Bright Cytech Investment45,776,000 CytechCytech 620,00035,155,000 35,775,000 Highway Bright (ii) Highway Bright92,400,000 Highway Bright 1,173,000 54,087,000 55,260,000 Highway Bright 79
2011 31. Highway Bright122,988,000 Highway Bright ODM Highway Bright 146,720 (126,558) 20,162 4,294 (2,742) (3,696) (1,194) (268,000) (7,877) (57) 9 (259,110) (1,366) (260,476) 31,210 (4,690) 26,520 80
2011 32. (a) (i) 980 253 (ii) 2,397 (iii) 181 (i) (ii) (iii) Shing Lee Holding Limited Shing Lee (b) 3,589 2,420 81
2011 33. (a) 50% 30,092,00050% 33(e) 5,880 25 24,212 30,092 27,082 (19,577) 16 37,597 5,547,000 82
2011 33. (a) 13 138 138 15 31,700 383 383 1,424 1,424 2,424 2,424 (8,567) (8,567) 34 (7,925) 19,577 (4,198) 2,424 (5,880) (3,456) 225,000 167,000 1,490,000 83
2011 33. (b) Perfect Crown Enterprises Limited 49,098,000 9,594 25 39,504 49,098 (43,422) 16 5,676 84
2011 33. (b) 13 26 26 15 63,100 169 169 51 51 891 891 (5,040) (5,040) 34 (15,775) 43,422 (3,903) 891 (9,594) (8,703) 227,000 85
2011 33. (b) 671,000 443,000 (c) Forever Bloom Trading Limited 4,313,000 2,500 25 1,813 4,313 (1,791) 16 2,522 86
2011 33. (c) 13 136 136 15 1,420 344 344 26 26 230 230 8 8 (18) (18) 34 (355) 1,791 726 8 (2,500) (2,492) 276,000 11,800,000 87
2011 33. (c) 28,000 279,000 (a) (b) Shing Lee Holding Limited Shing Lee Shing Lee 339,592,00067,444,000 (d) 38,331,000 38,331 25 (37,831) 16 500 88
2011 33. (d) 13 3,373 3,373 9,171 9,171 16,895 16,895 9,931 9,931 (27) (27) (1,512) (1,512) 37,831 37,831 9,931 (38,331) (28,400) 38,331 9,931 13,986,0002,470,000 89
2011 33. (e) 50% 106,798,000 5,000 25 101,798 106,798 (90,805) 16 15,993 90
2011 33. (e) 50% 13 325 325 15 86,600 21,359 (254) 2,604 2,604 1,567 1,567 34 (21,650) 90,805 4,242 1,567 (5,000) (3,433) 8,000,000346,000 662,000 91
2011 34. 6,397 11,077 17,474 33(e) 21,650 21,650 30 (11,077) (11,077) 9 (6,397) (6,397) 21,650 21,650 33(a) (b) (c) 24,055 24,055 9 (1,632) (1,632) 44,073 44,073 92
2011 34. 6,397 (6,397) 12,675,000 7,754,000 3,658,000 297,000 93
2011 35. (i) (ii) 94
2011 35. (iii) (vi) (iv) (v) 95
2011 35. (v) 20,204 20,204 20,204 17,761 17,761 17,761 3,576 3,576 3,576 41,541 41,541 41,541 3,145 3,145 3,145 6,139 6,139 6,139 20,017 20,741 1,744 18,997 30,573 30,573 30,573 59,874 60,598 41,601 18,997 96
2011 35. (v) 2,988 2,988 2,988 2,424 2,424 2,424 (vi) 3.10 3.13 3,512 6,621 26,092 26,976 7,237 48,062 5,045 77,666 45,879 97
2011 35. (vi) 184,243 97,937 1,486 184,243 99,423 20,204 3,145 17,761 6,139 20,017 3,576 30,573 41,541 59,874 2,988 2,424 98
2011 36. (a) (b) (c) 279,347,000 107,342,000 99
2011 338,754 45,331 30,444 212,672 146,720 707,507 238,149 32,376 338,754 192,051 737,951 450,821 32,376 80,502 (12,273) (6,590) 27,450 (2,803) (259,053) 80,260 27,321 (4,338) 80,502 (271,326) 73,670 54,771 (7,141) (3,070) (9,823) (5,717) (57) (1,685) (2,817) (1) (3,127) (11,508) (8,534) (1) 80,502 (15,343) (16,413) 21,733 (2,803) (259,110) 78,575 24,504 (4,339) 80,502 (274,453) 62,162 46,237 (7,142) (10,819) 5,497 247 (2,779) (1,366) (9,554) (4,312) (5) (10,819) 4,131 (9,307) (7,091) (5) 69,683 (9,846) (16,166) 18,954 (2,803) (260,476) 69,021 20,192 (4,344) 69,683 (270,322) 52,855 39,146 (7,147) 69,550 (273,837) 21,662 13,082 (6,986) 133 3,515 31,193 26,064 (161) 69,683 (270,322) 52,855 39,146 (7,147) 380,376 190,132 730,550 797,579 23,425 (101,029) (82,790) (315,692) (436,002) (5,598) (1,958) (1,610) (87,232) (55,785) 277,389 105,732 327,626 305,792 17,827 100