2013 2-3 4 5-6 7-18 19-21 22-33 34-44 45-46 47 48 49 50 51-52 53 54-103 104 1
2013 Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 75 4 1-3 Royal Bank of Canada Trust Company (Cayman) Limited 4th Floor, Royal Bank House 24 Shedden Road, George Town Grand Cayman KY1-1110 Cayman Islands 183 17 1712-1716 2
2013 122 15 17 www.milanstation.com.hk 1150 3
2013 (%) 1 22.0% 21.3% (%) 2 (5.4)% (2.1)% (%) 3 (10.0)% (3.4)% (%) 4 (11.8)% (3.9)% 5 4.6 5.4 6 2.0 3.3 (%) 7 7.2% 8.9% 8 88.7 92.4 1. 100% 2. 100% 3. 100% 4. 100% 5. 6. 7. 100% 8. 4
2013 543.31.0% (milanstation.net) 15.5210.0% 18.8%64.5 J&C (Asia) Limited 69.6%82.1 1.2% 5
2013 MS 6
2013 3% 40.716.7% 23.7 19.5% 7.7%14 13.1% 23.4 1.2 2%5 18.6%3,607 29.3 4%63.5% 7
2013 17 698.03.2% 38.0 13.9 77.8% 9.2% 11.8%17.2% 19.2% 30.8% 32.8% 543.3 1.0% 11 10,001 30,000 17.6%23.1% 30.1% 125.3 30,001 50,0005.7% 6.1% 8
2013 (milanstation.net) 15.5 210.0% 8.8 14,699 18.8%64.5 9.2% (milanstation.cc) 9
2013 J&C (Asia) Limited 69.6%82.1 8.11.2% 10
2013 698.0 676.4 3.2% 98.9%386.457.1% 437.462.7% 543.377.8% 79.4 64.548.4 82.1 11
2013 (%) (%) % 690.4 98.9 665.0 98.3 3.8 7.6 1.1 11.4 1.7 (33.3) 698.0 100.0 676.4 100.0 3.2 437.4 62.7 386.4 57.1 13.2 260.6 37.3 290.0 42.9 (10.1) 698.0 100.0 676.4 100.0 3.2 10,000 162.7 23.3 176.8 26.1 (8.0) 10,00130,000 158.1 22.7 123.5 18.3 28.0 30,00150,000 40.2 5.7 39.5 5.8 1.8 50,000 337.0 48.3 336.6 49.8 0.1 698.0 100.0 676.4 100.0 3.2 543.3 77.8 548.6 81.1 (1.0) 64.5 9.2 79.4 11.7 (18.8) 82.1 11.8 48.4 7.2 69.6 (1) 8.1 1.2 N/A 698.0 100.0 676.4 100.0 3.2 (1) 12
2013 544.7 2.3% 9.3 153.3 0.722.0% 9.9 19.2% 30.8% 32.8%20.1% 23.7% 30.8% 149.3115.4 88.792.4 0 90 77,934 73,411 91 180 38,216 14,570 1811 31,128 16,741 1 631 9,467 147,909 114,189 13
2013 0 45 225 639 46 90 254 194 911 860 358 1 2 6 1,341 1,197 50,000 50,000 0 90 40,795 40,982 91 180 16,419 6,536 1811 13,451 9,854 1 3,927 70,665 61,299 10.50.7 14
2013 138.419.8%109.4 16.2% 57.75.4 8.3% 1.3100,000 37.5 13.9169.8%5.6 2.1 173158 15
2013 26.8 36.7 77.3 81.358.2 319.0128.457.1354.5 7.2% 4.6 2.08.9% 5.4 3.3 77.31.0 4.60.2 Standpoint Global Limited Standpoint GlobalJ&C (Asia) LimitedJ&C Standpoint Global90% J&C10% 16
2013 17
2013 MS 18
2013 45 43 MS 4515 EDS Wellness Holdings Limited 44 20 Lionrock Capital (Cayman) LimitedSow Asia Foundation 19
2013 58 Genius World Investments Limited 35 39 6 15 44 JCL Merchandising Company 14 Body GloveBody Glove Mondi 20
2013 43 MS 40 Marchiori 34 46. 21
2013 14 A.2.1 A.5.1 3.10(1)3.21 3.25 3.10(1) 3.21 3.25 3.10(1) 3.21 3.25 A.5.1 10 22
2013 A.1.3 14 A.1.3 8/9 8/9 9/9 9/9 7/9 7/9 9/9 6/6 5/5 1/2 3/4 23
2013 1920 84 83(3) (i) (ii) 1/1 1/1 1/1 1/1 1/1 1/1 1/1 1/1 0/0 0/0 1/1 24
2013 25
2013 1/1 3/3 0/0 1/1 3/3 3/3 3/3 (1) (2) 26
2013 B.1.5 1,000,000 6 8 3/3 3/3 3/3 2/2 1/1 0/0 2/2 27
2013 (a) (b) (c) (d) (e) 3/3 1/1 1/1 1/1 2/2 28
2013 (a) (b) (c) (d) 3.21 1,460,000 327,000 1,460 100 227 1,787 29
2013 (a) (b) (c) (d) (e) 4546 30
2013 (a) (b) (c) 31
2013 3.2915 (a) (b) (c) 32
2013 75 4 1-3 ms_ir@milanstation.net 33
2013 15 47103 18317 1712-1716 202.7 34
2013 148.0 113.5 41.7 71.8 24.7 47.1 12.0 12.0 5.5 6.5 2.9 3.6 17.0 17.0 2.9 14.1 6.6 7.5 MS 4.0 4.0 4.0 2.1 1.9 2.4 2.4 2.4 2.8 2.8 0.3 2.5 0.2 2.3 3.2 3.2 1.9 1.3 0.8 0.5 13.3 10.3 10.3 1.5 8.8 37.5 37.5 202.7 202.7 92.2 110.5 38.8 71.7 104 14 25 35
2013 26(b) 306,995,000 728,102,000421,107,00022 364,000 30% 5% 36
2013 84(1) 84(2) 83(3) 1921 37
2013 28 38
2013 571 XV XV7 8 352 487,500,000 487,500,000 72.29% 487,500,000 2,000,000 2,000,000 0.30% 2,000,000 200,000 2,200,000 0.33% 2,000,000 2,000,000 0.30% 400,000 400,000 0.06% 200,000 200,000 0.03% 200,000 200,000 0.03% 39
2013 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 400,000 400,000 1.384 1.384 1.384 1.384 200,000 200,000 1.384 200,000 200,000 200,000 (200,000) 200,000 (200,000) 1.384 1.384 1.384 7,200,000 (400,000) 6,800,000 3,800,000 (100,000) 3,700,000 1.384 11,000,000 (500,000) 10,500,000 1.4 40
2013 2,000,000 984 2,000,000 984 2,000,000 984 400,000 197 200,000 98 200,000 98 3,700,000 1,821 10,500,000 5,166 25 41
2013 336 487,500,000 72.29% 487,500,000 336 14A (a) 10,000 7,727 (b) 108 76 (c) 3,211 7,847 (d) 599 273 (a) (b) (c) (d) 14A 42
2013 (i) (ii) (iii) (iv) 3000 740 14A.38 25% 14 2233 43
2013 2233 44
2013 47103 45
2013 1 22 46
2013 5 698,007 676,444 (544,730) (532,461) 153,277 143,983 5 10,529 9,825 (138,387) (109,442) (57,744) (52,286) 6 (1,343) (1,380) 7 (33,668) (9,300) 10 (4,296) (4,630) (37,964) (13,930) 11 (37,520) (13,918) (444) (12) (37,964) (13,930) 13 (5.56) (2.06) 12 47
2013 (37,964) (13,930) 2,103 871 (35,861) (13,059) 11 (35,528) (13,047) (333) (12) (35,861) (13,059) 48
2013 14 95,026 97,845 23 574 1,928 16 22,912 12,828 118,512 112,601 17 149,250 115,386 18 10,712 8,314 16 18,228 18,875 1,958 10,260 19 1,000 21,597 19 81,302 128,384 262,450 302,816 20 27,975 18,758 21 26,808 36,743 22 114 112 1,587 630 56,484 56,243 205,966 246,573 324,478 359,174 20 911 768 22 463 51 23 322 62 1,696 881 322,782 358,293 24 6,744 6,744 26(a) 312,261 347,789 319,005 354,533 3,777 3,760 322,782 358,293 49
2013 a b c 6,744 177,148 10 (23,782) 1,729 712 5,782 203,283 371,626 371,626 871 871 871 (13,918) (13,918) (12) (13,930) 871 (13,918) (13,047) (12) (13,059) 3,772 3,772 (4,046) (4,046) (4,046) (369) 369 6,744 173,102* 10* (23,782)* 1,729* 1,583* 5,413* 189,734* 354,533 3,760 358,293 1,992 1,992 111 2,103 (37,520) (37,520) (444) (37,964) 1,992 (37,520) (35,528) (333) (35,861) 350 350 (246) 246 6,744 173,102* 10* (23,782)* 1,729* 3,575* 5,167* 152,460* 319,005 3,777 322,782 * 312,261,000 347,789,000 (a) (b) (c) 10% 50% 50% 50
2013 (33,668) (9,300) 5 (699) (1,178) 7 (526) (1,029) 7 1,476 3,205 7 (17,264) 7,411 7 10,786 8,646 7 1,790 6 1,343 1,380 (36,762) 9,135 (16,600) 31,366 (2,398) 945 (9,437) 4,432 9,051 (4,070) (56,146) 41,808 (1,333) (1,367) (10) (13) 6,353 (16,370) 224 (2,371) (50,912) 21,687 699 1,178 (11,157) (89,199) 20,000 1,484 1,200 (8,974) (66,821) 51
2013 27,000 39,625 (36,935) (2,882) 20,597 (20,094) (4,046) (191) (112) 350 3,772 10,821 16,263 (49,065) (28,871) 128,384 156,539 1,983 716 81,302 128,384 80,302 75,657 1,000 52,727 19 81,302 128,384 52
2013 15 144,000 144,000 14 125 166 144,125 144,166 16 359 420 15 181,255 178,107 19 742 302 182,356 178,829 15 4,364 741 20 3,211 2,712 7,575 3,453 174,781 175,376 318,906 319,542 24 6,744 6,744 26(b) 312,162 312,798 318,906 319,542 53
2013 1. Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, the Cayman Islands 754 1-3 15 2.1 54
2013 2.1 (i)(ii) (iii)(i) (ii)(iii) 2.2 1 7 10 11 12 10 11 12 13 1 19 27 28 20 1 7 10 11 12 1 1 1 55
2013 2.3 9 4 9 7 9 7 39 4 39 10 12 10 12 27 1 27 14 3 19 19 2 32 32 1 36 36 1 39 39 1 21 1 2 2 1 2 3 4 56
2013 2.4 (a) (b) (c) 57
2013 2.4 (a) (i) (ii) (iii) 58
2013 2.4 (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) 2% 20% 20% 30% 59
2013 2.4 60
2013 2.4 (a) (b) 61
2013 2.4 62
2013 2.4 63
2013 2.4 64
2013 2.4 65
2013 2.4 (a) (b) (c) 66
2013 2.4 25 67
2013 2.4 68
2013 3. (1)(2) (3) 90 10% 9010% 120 840 9,902,0009,902,000 69
2013 4. 543,249 82,074 64,548 8,136 698,007 93,265 113 7,219 100,597 9,603 25 2,443 12,071 548,575 48,400 79,469 676,444 94,109 127 6,686 100,922 94,778 169 2,839 97,786 10% 70
2013 5. 698,007 676,444 699 1,178 526 1,029 8,400 6,960 904 658 10,529 9,825 708,536 686,269 6. 112 121 1,221 1,246 10 13 1,343 1,380 71
2013 7. 544,730 532,461 (17,264) 7,411 14 10,786 8,646 1,790 79,053 67,096 20 3,956 8 33,988 30,616 1,054 1,048 35,042 31,664 1,460 1,560 1,476 3,205 (526) (1,029) (699) (1,178) 8. 161 1,096 967 7,823 8,501 60 56 8,979 9,524 72
2013 8. 25 (a) 200 200 41 41 84 84 154 154 117 117 596 596 200 200 200 200 200 200 600 600 73
2013 8. (b) ^ 5,046 15 5,061 852 15 867 1,073 15 1,088 852 15 867 7,823 60 7,883 300 300 200 200 500 7,823 60 8,383 ^ 5,655 14 5,669 897 14 911 1,050 14 1,064 899 14 913 8,501 56 8,557 300 300 67 67 367 8,501 56 8,924 ^ 74
2013 8. (b) 9. 8 840 700 11 14 851 714 1,000,000 1 1 75
2013 9. 25 10. 16.5%16.5% 25%25%12% 12% 2,038 4,427 (191) (102) 462 364 373 56 23 1,614 (115) 4,296 4,630 76
2013 10. (33,668) (9,300) (7,737) (3,094) 182 (46) (668) (291) 2,399 1,401 11,945 5,954 (95) (124) (1,730) 830 4,296 4,630 11. 11,564,000 15,334,000 26(b) 12. 13. 37,520,000 13,918,000 674,374,000 674,374,000 77
2013 14. 78,879 28,628 9,988 1,333 118,828 1,538 6,598 2,148 1,787 12,071 (3,696) (126) (2,148) (5,970) 189 13 202 80,417 31,719 12,023 972 125,131 783 15,684 3,286 1,230 20,983 792 7,822 1,897 275 10,786 1,785 5 1,790 (2,234) (107) (1,195) (3,536) 78 4 82 1,575 23,135 5,085 310 30,105 78,842 8,584 6,938 662 95,026 78,096 12,944 6,702 103 97,845 23,704 4,128 3,040 30,872 78,879 12,449 6,458 97,786 (7,719) (604) (1,707) (10,030) 194 6 200 78,879 28,628 9,988 1,333 118,828 14,058 2,799 2,089 18,946 783 6,185 1,001 677 8,646 (4,601) (517) (1,536) (6,654) 42 3 45 783 15,684 3,286 1,230 20,983 78,096 12,944 6,702 103 97,845 9,646 1,329 951 11,926 78
2013 14. 203 37 41 78 125 166 203 203 37 37 166 79
2013 14. 77,313,000 78,096,000 21 662,000 103,000 15. 555,000 555,000 # (411,000) (411,000) 144,000 144,000 # 555,000,000411,000,000 80
2013 15. Milan Station (BVI) Limited (BVI) 4 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 81
2013 15. 2 100 Trilink Global Limited 1 100 10,000 100 10,000 100 30,000 100 10,000 100 Milan Station (PRC) Limited 1 100 Milan Station (E-Business) Limited 10,000 100 10,000 100 10,000 100 10,000 100 10,000 100 82
2013 15. 10,000 100 10,000 100 * 32,000,000 100 * 34,000,000 100 10,000 100 14,286 70 10,134,312 70 Milan Station Luxury Pte. Limited # 10 100 Standpoint Global Limited 1 100 Standpoint Global # * # 83
2013 15. (1) 14,000,00034,000,00020,000,000 25,000,000 (2) 14,286 170%30% 30,000,000 15,000,000 10,500,00013,125,000 4,500,0005,625,000 8,792,0003,768,000 (3) Standpoint Global J&C (Asia) LimitedJ&C J&C J&C J&CJ&CStandpoint Global90% J&C10%J&C Standpoint Global J&CJ&C 10,000,0007,000,000 Standpoint Global J&CJ&C 6,300,000 8,077,000700,000897,000 16. 6,346 3,795 291 283 29,461 22,122 5,333 5,786 68 137 41,140 31,703 359 420 (22,912) (12,828) 18,228 18,875 359 420 84
2013 17. 149,250 115,386 18. 1 10,337 6,465 1 2 375 1,326 2 3 523 10,712 8,314 10,429 8,125 1 2 283 189 10,712 8,314 85
2013 19. 80,302 75,657 742 302 1,000 21,597 1,000 52,727 82,302 149,981 742 302 21 (1,000) (21,597) 81,302 128,384 742 302 9,167,0003,178,000 86
2013 20. 7,675 6,721 1,506 1,632 8,769 8,605 1,705 1,080 2,409 10,033 4,200 28,886 19,526 3,211 2,712 (911) (768) 27,975 18,758 3,211 2,712 3,956,000 1,547,000 21. (%) 3.25 3.75 26,808 34,618 7.20 2,125 26,808 36,743 87
2013 21. 2,125,000 26,808,000 34,618,000 2,329,000 5,385,000 2,406,000 3,385,0007,703,000 10,945,00014,370,000 17,028,000 (i) 77,313,000 78,096,000 (ii) 67,000,000 37,500,000 (iii) 1,000,000 21,597,000 88
2013 22. 131 119 114 112 131 52 240 51 360 223 622 171 577 163 (45) (8) 577 163 (114) (112) 463 51 89
2013 23. 523 1,405 1,928 10 51 (1,405) (1,354) 574 574 177 10 (115) 62 10 260 322 113,298,000 55,978,000 90
2013 23. 10% 24. 2,000,000,0000.01 20,000 20,000 674,374,000674,374,000 0.01 6,744 6,744 25. 10 10% 1% 91
2013 25. 0.1%5,000,000 1 (i)(ii) (iii) 1.384 11,000 1.384 11,750 1.384 (500) 1.384 (750) 1.384 10,500 1.384 11,000 92
2013 25. 10,500 1.384 11,000 1.384 5,782,0000.5 % 1.1 % 59.77 % 0.837 5 1.38 93
2013 25. 10,500,000 10,500,000 105,000 14,427,000 7,900,0001.17% 26. (a) (b) 177,158 554,990 5,782 (9,243) 728,687 (411,843) (411,843) (369) 369 (4,046) (4,046) 173,112 554,990 5,413 (420,717) 312,798 (636) (636) (246) 246 173,112 554,990 5,167 (421,107) 312,162 94
2013 26. (b) 636,000 411,843,000 411,000,00010,928,000 14,491,000 27. (a) 605,000 (b) 309,000 1,087,000 28. (i) (a) 10,000 7,727 (b) 108 76 (c) 3,211 7,847 (d) 599 273 (a) (b) (c) (d) 95
2013 28. (i) 14A (ii) 12,022 11,012 116 87 12,138 11,099 8 29. (a) 67,000 27,000,000 96
2013 30. (a) 8,400 (b) 71,009 55,476 480 2,040 115,755 65,408 480 4,692 9,542 196,306 120,884 960 6,732 97
2013 31. 30 4,574 243 32. 10,712 8,314 28,965 27,908 68 137 181,255 178,107 1,000 21,597 81,302 128,384 742 302 121,979 186,203 182,065 178,546 98
2013 32. 4,364 741 21,351 10,075 1,705 1,530 26,808 36,743 577 163 48,736 46,981 6,069 2,271 33. 99
2013 33. 21 100 268 100 367 % 5 458 (5) (458) 5 74 (5) (74) 100
2013 33. 18 19 1 1 20,440 911 21,351 * 26,808 26,808 131 491 622 47,379 1,402 48,781 101
2013 33. 1 1 9,307 768 10,075 * 36,818 36,818 119 52 171 46,244 820 47,064 * 26,808,000 34,618,000 12 2,329,000 3,260,0002,406,000 3,385,000 7,703,000 10,945,000 14,370,000 17,028,000 1 1 4,364 4,364 1,705 1,705 6,069 6,069 102
2013 33. 1 1 741 741 1,530 1,530 2,271 2,271 1 34. 103
2013 698,007 676,444 879,802 730,259 611,273 (544,730) (532,461) (666,464) (555,599) (467,609) 153,277 143,983 213,338 174,660 143,664 10,529 9,825 8,770 935 536 (138,387) (109,442) (104,151) (84,091) (71,028) (57,744) (52,286) (53,654) (24,681) (24,597) (1,343) (1,380) (220) (187) (381) (33,668) (9,300) 64,083 66,636 48,194 (4,296) (4,630) (16,119) (12,326) (9,031) (37,964) (13,930) 47,964 54,310 39,163 (37,520) (13,918) 47,964 54,310 39,163 (444) (12) (37,964) (13,930) 47,964 54,310 39,163 380,962 415,417 399,970 165,894 157,152 (58,180) (57,124) (28,344) (32,299) (63,608) (3,777) (3,760) 319,005 354,533 371,626 133,595 93,544 (i) (ii) 4749 104