. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .52 1842 Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O.Box 1586Gardenia Court, Camana BayGrand Cayman KY1-1110 Cayman Islands 1617 999 Grand PavilionHibiscus Way802 West Bay RoadP.O. Box 31119Grand Cayman KY1-1205Cayman Islands 1260 http://www.wsfg.hk 66.527.2 66.527.2276.0239.113.4% (i)(ii)(iii)(iv)235.4276.014.7%78.086.69.9% 3.71.925,000 5.316.553.037.132.452.747.930.510.2 213.775.5506.3557.4 0%0% 525.4547.926.026.8 IPO18CIPO IPO80IPO1,000IPO IPOIPO 20445.553.5 1617 601122Sapphire Star InvestmentsLimited51% 49 242023/2024 61235(Advanced Management Program)IPC Corporation LimitedMetech International Limited(Centillion Environment & RecyclingLimited) 50G.T. InvestmentLimited 40171643 34 5 4245138140 LED 27ESGESG 32 23 13 27 2242.7 14.7%5.3% 14.3%4.7% 5% 3.13 622470391(1)(a) XVXV78352 1.Sapphire Star Investments LimitedSapphireStarSapphire Star100%Sapphire Star 2. 3. (ii) Sapphire Star100%Sapphire Star XVXV78352 XV23336 1.Sapphire Star Group LimitedSapphire Star100%Sapphire Star Group LimitedSapphire Star 2.58,712,0006,904,000 3.TMF (Cayman) LtdSapphire StarGroup Limited100%Sapphire StarSapphire Star Group Limited100% XV235% SapphireStar Sapphire Star 28 2430 A.2.1 A.2.1 1112 4 3.13 (a)(b)(c) ••• (a)(b)(c)(d) 3641 1. 2. 3. (a)(b)(c)(d)(e)(f)(g) 15 (2)(21) www.wsfg.hk999 13.39(4) 27 A. 25 1. 302,205244,9598.25 46.4 2. 4,990 3. B. 1. 485 2. 3. 4. 5. 6. 7. 8. 42140 1 83 6 , 0 7 9 , 0 0 035,318,000 4 32 328,177,00035,318,000 213287,508,00030,521,000 32 32 • • • • • • 1842 P07322 42140 (i)(ii)(iii)(iv)(v)3(vi)3(i)(ii)(vii)3 1. 22Sapphire Star InvestmentsLimited 34 2. 181212 2. 1 8 12 121524 12 2. 11115171 16121210283 123 1 1 3. 2161716236 3. ••• • •• 3. 3636 3. • • 3. • 9 (a)(b)(c) 3. 3. (a)(b) 16 3. 12 ••• 9 3. 3. •• 1616 3. 15 9 3. 3. 3. 3. 15 3. •• •• 3 3. ••• (i) 3. (ii) (iii) 3. (iv) 9 121212 12 3. (i) ••••• 30 3. (i) (1)(2)(3) (ii) 90 3. (iii) ••••• (iv) 3. (v) 3. 3. 9 3. 3. 3. 3. 12 3. 3. (a)(i)(ii)(iii)(b)(i)(ii)(iii)(iv)(v)(vi)(a)(vii)(a)(i)(viii) 3. (a)(b)(c) 4. 3 4. 3218 2132 87,508,000126,502,00030,521,00010,237,000 4. 202132 5. 15 5. 5. 3 5. 5. 5. 5. 5. 90%78% 10% 7. 703,0002,539,000 9. (a) 9. (a) (b) 9. 10. 28.25%216.5%16.5% 2 5 %25% 10. 11. 12. 1.51.5 13. 525,414,000547,883,000 50 232418371938 12 14. 2460 50 14. 61,000,00065,800,0002 25,974,00026,754,000 15. 3 8 4 , 0 0 0365,000 16. 12,200,00012,200,000 16. 9 95,000,000 93,101,0005,000,0009 17. 18. 30,895,00036,850,00017,320,00019,849,00091509,0001,024,000 32 19. 30 1.6,389,000384,00019,592,000 3324,278,0002,228,000 2. 3.4.80%5.75%2,261,000348,000 20. 21. 32 22. 3483493.28%5.88%1.95%5.33% 23. 1360 25. 20,430,0008,752,000 26. 26. 305,944,000291,235,00024,659,00022,282,000 27. 10,000,000,000100,000 0.01 1,151,454,00011,515 28. 4,000,0004,000,0000.35%0.35%30% 121% 28. 120.1%5,000,000 12810(i)(ii)(iii) 71,000 29. 5%1,500 1,794,0002,235,000 30. (i) 30. (ii) 2460 31. 32. 18,228,00023,148,000 5%,911,0001,157,000 32. 22 2021 5%1,751,0001,637,0004,375,0006,325,000 32. 5%5%5%5% 32. 32. 32. 9 5.76%3.81% 32. 8,177,000823,0005,141,0005,053,000 30,521,00010,237,00034,945,000 32. 122,271,000 32. 1212 32. (a) 32. 32. 33. 1.2.Fortunate Sun Investment Limited 33. 34. 34. 35. 35.