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External sources (not reviewed)

to be interested in the Renewed Master Agreement, and thereby had abstained from voting at the meeting of the board of Directors convened and held to approve the Renewed Master Agreement and the transaction contemplated thereunder.

Directors) believe that the terms of the Lease Agreement (including the Annual Caps) are fair and reasonable and are in the interests of the Company and its Shareholders as a whole.

Directors) consider and believe that (a) the Renewed Master Agreement will allow the Group to secure additional business, and hence revenue, for the Group; (b) the Renewed Master Agreement and the transactions contemplated thereunder were entered into in the ordinary and usual course of the business of theGroup,andhavebeennegotiatedonanarm’slength basis between the parties on normal commercial terms; and (c) the terms of the Renewed Master Agreement (including the Renewed Annual Caps) are fair and reasonable and are in the interests of the Company and its shareholders as a whole.

Directors) consider that (a) the Lease Agreement and the transactions contemplated thereunder were entered into in the ordinary and usual course of the business of the Group; (b) the rental under the Lease Agreement was arrived at based on normal commercial terms after arm’s length negotiations between the parties and with reference to the indicative annual rental indicated by the independent valuer engaged by the Company, the location of the land and the factory and the approval certification of pollution emission issued by the relevant PRC environmental protection bureau; and (c) the terms of the Lease Agreement and the Aggregated Annual Caps are fair and reasonable and are in the interests of the Company and its Shareholders as a whole.

Yi Ping; the non-executive Directors are Mr. Johann Christoph Michalski, Mr. Ulf Olof Lennart Soderstrom and Mr. Chiu Bun (alternate director to Mr. Michalski and Mr. Soderstrom); and the independent non-executive Directors are Dr. Cao Zhen Lei, Mr. Kam Robert, Mr. Hui Chin Tong, Godfrey and Mr. Tsui King Fai.

Directors) consider that the Master Agreement will allow the Group to secure additional business, and hence revenue, for the Group.

do not or cease to own, directly or indirectly, not less than 30% of the beneficial interest in the Company, carrying not less than 30% of the voting right, it constitutes an event of default.

consider applying to the Legislative Council for the funds required.

out of the carriage or custody by the Corporation or any official of any animal, vehicle, luggage, goods, articles or things and any cost, loss, damage or expense incurred in connection herewith and the Corporation shall hold any such sums paid in respect of any such claims against any cost, damage, loss or expense of any official in trust for the official concerned.

years and does not hold any position in any member of the Group, nor does each of them have any relationship with any other Directors, senior management, substantial shareholders or controlling shareholders of the Company or any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

non-executive Directors, has been formed to advise the Independent Shareholders as to whether the grant of the General Mandate is fair and reasonable so far as the Independent Shareholders are concerned and whether the grant of the General Mandate is in the interests of the Company and the Independent Shareholders as a whole.