MT48MT49MT50
MT51MT52MT53
MT42MT43MT44
MT45MT46MT47
MT54MT55MT56
MT57MT58MT59
MT60MT61MT62MT63
MT64MT65MT66MT67
MT69MT68MT68MT70
MT48MT49MT50
MT51MT52MT53
MT42MT43MT44
MT45MT46MT47
MT54MT55MT56
MT57MT58MT59
MT60MT61MT62MT63
MT64MT65MT66MT67
MT74MT81MT98MT100MT93MT89MT90MT97MT102MT93MT91MT93MT88MT86MT102MT93MT98MT97MT99MT103MT100MT99MT98MT101MT90MT98MT97MT95MT105
MT69MT68MT68MT70
MT85MT92MT93MT100MT89 MT83MT103MT86MT100MT102MT90MT100MT95MT105 MT84MT90MT99MT98MT100MT102
MT113MT45MT56MT51MT57MT50MT55MT121MT125MT123MT117MT126MT49MT118MT122MT114
MT113MT46MT124MT120MT58 MT112MT110MT108MT109MT111MT114
MT53MT116MT44MT47MT54MT42
MT60MT71MT75MT61MT65MT76MT76MT65MT78MT65MT64MT68MT66MT70MT74MT75MT72MT75MT69MT79MT62MT75MT72MT67MT71MT74MT69MT76MT63MT71MT73MT71MT77MT68MT67
MT115MT119MT48MT43MT52MT46MT126MT49MT118MT122MT107
MT72MT82MT97MT88MT98MT100MT99MT98MT100MT86MT102MT90MT89MT93MT97MT102MT92MT90MT80MT86MT105MT96MT86MT97MT82MT101MT95MT86MT97MT89MT101MT104MT93MT102MT92MT95MT93MT96MT93MT102MT90MT89MT95MT93MT86MT87MT93MT95MT93MT102MT105MT73
MT72MT101MT102MT98MT88MT94MT80MT98MT89MT90MT79MT77MT75MT76MT78MT73
MT60MT71MT75MT61MT65MT76MT76MT65MT78MT65MT64MT68MT66MT70MT74MT75MT72MT75MT69MT79MT62MT75MT72MT67MT71MT74MT69MT76MT63MT71MT73MT71MT77MT68MT67
MT115MT119MT48MT43MT52MT46MT126MT49MT118MT122MT107

CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET
(“GEM”) OF THE STOCK EXCHANGE OF HONG KONG LIMITED
(THE “STOCK EXCHANGE”)
GEM has been established as a market designed to accommodate companies
to which a high investment risk may be attached. In particular, companies
may list on GEM with neither a track record of profitability nor any obligation
to forecast future profitability. Furthermore, there may be risks arising out of
the emerging nature of companies listed on GEM and the business sectors or
countries in which the companies operate. Prospective investors should be
aware of the potential risks of investing in such companies and should make
the decision to invest only after due and careful consideration. The greater
risk profile and other characteristics of GEM mean that it is a market more
suited to professional and other sophisticated investors.
Given the emerging nature of companies listed on GEM, there is a risk that
securities traded on GEM may be more susceptible to high market volatility
than securities traded on the Main Board and no assurance is given that there
will be a liquid market in the securities traded on GEM.
The principal means of information dissemination on GEM is publication on the
internet website operated by the Stock Exchange. Listed companies are not
generally required to issue paid announcements in gazetted newspapers.
Accordingly, prospective investors should note that they need to have access to
the GEM website in order to obtain up-to-date information on GEM listed issuers.

This report, for which the directors of Bio Cassava Technology Holdings Limited
(the “Company”) collectively and individually accept full responsibility, includes
particulars given in compliance with the Rules Governing the Listing of Securities
on the Growth Enterprise Market (“GEM Listing Rules”) of The directors, having made all reasonable enquiries, confirm that, to
the best of their knowledge and belief: - (1) the information contained in this report
is accurate and complete in all material respects and not misleading; (2) there are
no other matters the omission of which would make any statement in this report
misleading; and (3) all opinions expressed in this report have been arrived at after
due and careful consideration and are founded on bases and assumptions that are
fair and reasonable.

Bio Cassava Technology Holdings Limited
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1
FINANCIAL HIGHLIGHTS

The Group recorded turnover of HK$4,866,000 for the nine months ended
30 September 2007, representing an increase of 51.0% from the
corresponding period of last year.
The Group recorded OEM licensing revenue of HK$254,000 for the nine
months ended 30 September 2007, representing a decrease of 74.6% from
the corresponding period of last year.
Packaged software sales of HK$3,567,000 for the nine months ended 30
September 2007, representing an increase of 70.3% from the corresponding
period of previous year.
The Group recorded a net loss attributable to shareholders for the nine
months ended 30 September 2007 of HK$20,563,000 (first nine months of
2006 : net loss attributable to shareholders of HK$4,892,000).
The Group total operating expenses for the nine months ended 30
September 2007 increased by 221.3% compared to first nine months of 2006.
The increase in the Group net loss attributable to shareholders and the
increase in total operating expenses for the nine months ended 30
September 2007 compared to the corresponding period of previous year
was mainly due to the provision of share-based payment of HK$15,221,000.
The unaudited consolidated results for the nine months ended 30 September
2007 and the comparison with last year are set out in the accompanying
table.

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Bio Cassava Technology Holdings Limited
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2
NINE MONTHS RESULTS (UNAUDITED)
The Board of Directors (the “Directors”) of Bio Cassava Technology Holdings
Limited (the “Company”) are pleased to announce the unaudited consolidated
results of the Company and its subsidiaries (the “Group”) for the three months
and nine months ended 30 September 2007, together with the unaudited
comparative figures for the corresponding periods in 2006 as follows:
CONDENSED CONSOLIDATED INCOME STATEMENT

(UNAUDITED)
Three months ended Nine months ended
30 September 30 September
2007 2006 2007 2006

Notes HK$’000 HK$’000 HK$’000 HK$’000
Revenue 2 2,029 1,500 4,866 3,222
Cost of sales (406) (67) (959) (209)
Gross profit 1,623 1,433 3,907 3,013
Other operating
income 3 400 124 881 384
Selling and
distribution
expenses (1,040) (887) (3,129) (1,900 )
Research and
development
expenses (296) (283) (872) (900)
General and
administrative
expenses (2,671) (1,685) (21,350) (5,089 )
Loss before income tax (1,984) (1,298) (20,563) (4,492 )
Income tax expense 4 — — — —
Loss after income tax (1,984) (1,298) (20,563) (4,492 )
Loss on disposal
of subsidiary — (400) — (400)
Loss for the period (1,984) (1,698) (20,563) (4,892 )
(Restated) (Restated)
Loss per share 6
- Basic (HK$0.03 cent) (HK$0.03 cent) (HK$0.27 cent) (HK$0.08 cent)
- Diluted N/A N/A N/A N/A

Bio Cassava Technology Holdings Limited
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3
Notes:
1 Basis of presentation and accounting policies
The Group’s unaudited condensed consolidated interim financial statements have
been prepared in accordance with the Hong Kong Accounting Standard (“HKAS”)
34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified
Public Accountants (“HKICPA”) and the disclosure requirements as set out in Chapter
18 of the GEM Listing Rules.
The unaudited condensed consolidated interim financial statements have been
prepared under the historical cost basis. The accounting policies and basis of
preparation adopted in these interim financial statements are consistent with those
adopted in the Group’s annual financial statements for the year ended 31 December
2006.

The condensed consolidated interim financial statements have not been audited
by the Company’s auditors but have been reviewed by the Company’s audit
committee.
From 1 January 2007, the Group has adopted the following new and amended Hong
Kong Financial Reporting Standards (“HKFRSs”), which are first effective on 1 January
2007.

HKAS 1 (Amendment) Presentation of Financial Statements – Capital
Disclosures
HKFRS 7 Financial Instruments – Disclosures
HK(IFRIC) – Int 7 Applying the Restatement Approach under
HKAS 29 Financial Reporting in Hyperinflationary
Economies
HK(IFRIC) – Int 8 Scope of HKFRS 2
HK(IFRIC) – Int 9 Reassessment of Embedded Derivatives
HK(IFRIC) – Int 10 Interim Financial Reporting and Impairment
The adoption of these new and amended HKFRSs did not result in significant changes
in the Group’s accounting policies.

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Bio Cassava Technology Holdings Limited
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4
New or amended HKFRSs that have been issued but are not yet effective
The Group has not early adopted the following HKFRSs that have been issued but
are not yet effective. The directors of the Company anticipate that the adoption of
such HKFRSs will not result in material financial impact on the Group’s financial
statements.
HK(IFRIC) – Int 11 HKFRS 2: Group and Treasury Share Transactions
1
HK(IFRIC) – Int 12 Service Concession Arrangements
2
HKFRS 8 Operating Segments
3
HKAS 23 (Revised) Borrowing Costs
3
Notes:
1
Effective for annual periods beginning on or after 1 March 2007
2
Effective for annual periods beginning on or after 1 January 2008
3
Effective for annual periods beginning on or after 1 January 2009
2 Revenue and segment information
The Group is principally engaged in software and embedded systems development.
Revenue, which is also the Group’s turnover recognised during the relevant periods
are as follows:
Unaudited Unaudited
Three months ended Nine months ended
30 September 30 September
2007 2006 2007 2006

HK$’000 HK$’000 HK$’000 HK$’000
Revenue
Sale of goods 1,871 889 4,612 2,223
Licensing income 158 611 254 999
2,029 1,500 4,866 3,222

In accordance with the Group’s internal financial reporting, the Group has determined
that business segment is presented as the primary reporting format and geographic
segment as the secondary reporting format.
No business segment analysis is provided as sales and licensing of software and
embedded systems is the Group’s only major business segment.

Bio Cassava Technology Holdings Limited
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5
Geographical segment analysis is as follows:
Unaudited Unaudited
Three months ended Nine months ended
30 September 30 September
2007 2006 2007 2006

HK$’000 HK$’000 HK$’000 HK$’000
Hong Kong 1,921 1,049 4,758 2,650
Mainland China 108 451 108 572
2,029 1,500 4,866 3,222

3 Other operating income
Unaudited Unaudited
Three months ended Nine months ended
30 September 30 September
2007 2006 2007 2006

HK$’000 HK$’000 HK$’000 HK$’000
Interest income 302 90 782 277
Gain on financial assets
at fair value through
profit or loss 75 — 75 —
Sundry income 23 34 24 107
400 124 881 384

4 Income tax expense
No Hong Kong profits tax has been provided as the Group did not generate any
assessable profits arising in Hong Kong for the nine months ended 30 September
2007 (nine months ended 30 September 2006: Nil).
During the nine months ended 30 September 2007, provision for the profits tax of
subsidiaries operating outside Hong Kong has not been provided as the subsidiaries
did not generate any assessable profits in the respective jurisdictions (nine months
ended 30 September 2006: Nil).
At 30 September 2007, the Group has net deferred tax assets mainly arising from
tax losses of approximately HK$7,000,000 (as at 31 December 2006: HK$2,961,000).
However, the net deferred tax assets have not been recognised as it is uncertain
whether future taxable profit will be available for utilising the accumulated tax losses.
Under the current tax legislation, the tax losses can be carried forward indefinitely.

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6
5 Interim dividend
The Directors do not recommend the payment of interim dividend for the nine
months ended 30 September 2007 (nine months ended 30 September 2006: Nil).
6 Loss per share
The calculation of the basic loss per share is based on the Group’s unaudited
consolidated loss attributable to equity holders of the Company for the three months
and nine months ended 30 September 2007 of HK$1,984,000 and HK$20,563,000
respectively (three months and nine months ended 30 September 2006: HK$1,698,000
and HK$4,892,000 respectively) and on the weighted average number of shares of
7,398,797,826 and 7,668,293,407 respectively (three months and nine months ended
30 September 2006 (restated): 6,012,541,962) ordinary shares of the Company in
issue during the periods.
No diluted loss per share has been presented in the current period (2006: Nil)
because the exercise of the Company’s outstanding share options and warrants
would reduce loss per share.
The weighted average number of shares for the purposes of calculating basic and
diluted loss per share for the three months and nine months ended 30 September
2007 and 30 September 2006 has been adjusted to reflect the share subdivision
effective on 3 July 2007.
The weighted average number of shares for the purposes of calculating basic loss
per share for the three months and nine months ended 30 September 2006 has also
been adjusted to reflect the issuance of rights shares issued on 1 November 2006.

Bio Cassava Technology Holdings Limited
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7
7 Reserves
Capital Share
Share redemption Warrants option Reorganisation Accumulated
premium reserve reserve reserve reserve losses Total
(unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
At 1 January 2006 87,601 37 6,250 — 3,000 (91,488 ) 5,400
Loss for the period —————(4,892 ) (4,892 )
At 30 September 2006 87,601 37 6,250 — 3,000 (96,380 ) 508
At 1 January 2007 104,596 37 6,250 — 3,000 (98,589 ) 15,294
Issurance of warrants issue ——6,230 ———6,230
Warrants issue expenses (994 ) —————(994 )
Exercise of warrants 6,633 — (1,823 ) ———4,810
Recognition of equity-settled
share-based payments ———15,221 ——15,221
Loss for the period —————(20,563 ) (20,563 )
At 30 September 2007 110,235 37 10,657 15,221 3,000 (119,152 ) 19,998

Thir
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Bio Cassava Technology Holdings Limited
8
8
BUSINESS REVIEW AND PROSPECTS

The consolidated turnover of the Company and its subsidiaries the nine months ended 30
September 2007, amounted to HK$4,866,000, representing an increase of 51.0% from the
corresponding period of last year. Loss attributable to shareholders for the nine months
ended 30 September 2007 amounted to HK$20,563,000 compared to a loss of HK$4,892,000
for the corresponding period of last year. The loss per share was HK$0.27 cents (First nine
months of 2006 : loss per share of HK$0.08 cents).
The Group total operating expenses for the nine months ended 30 September 2007 was
increased by 221.3% compared to first nine months of 2006. The increase in the Group
total operating expenses was mainly due to the provision of share-based payment of
HK$15,221,000.
The OEM licensing revenue HK$254,000 for the nine months ended 30 September 2007,
representing a decrease of 74.6% from the corresponding period of last year.
Packaged software sales of HK$3,567,000 for the nine months ended 30 September 2007,
representing an increase of 70.3% from the corresponding period of previous year.
During September 2007, the Group entered into a construction contract with an
independent party and commenced the construction of production lines and the
production centre in Yunfu City Guangdong Province, PRC, for the production and
fermentation of cassava ethanol. The Group will continue its marketing effort in promoting
Q9 CIS, and to develop the new biotech and renewable energy business to derive new
sources of revenue. Management believes the Group has sufficient resources and ability
to diversify the new business areas related to the biotech and renewable energy market,
and derives new sources of revenue for the Group in the near future after completion of
the production lines and the production centre in Yunfu City.
OTHER INFORMATION

On 29 June 2007, ordinary resolution was passed by the shareholders of the Company to
approve the share subdivision (the “Share Subdivision”). The Share Subdivision became
effective on 3 July 2007, and each of the issued and unissued shares of HK$0.01 each in
the share capital of the Company has been subdivided into four subdivided shares of
HK$0.0025 each. The authorized share capital of the Company remained at HK$500,000,000
but was divided into 200,000,000,000 subdivided shares with par value of HK$0.0025 each.
The exercise price of the share options of the Company was adjusted from HK$0.45 per
share to HK$0.1125 per subdivided share. The subscription price of the warrants of the
Company was adjusted from HK$0.076 per share to HK$0.019 per subdivided share.

Bio Cassava Technology Holdings Limited
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9
DIRECTORS’ AND CHIEF EXECUTIVE’S INTERESTS AND SHORT
POSITIONS IN SHARES, UNDERLYING SHARES AND
DEBENTURES

As at 30 September 2007, save for the interest of the directors in share options as below,
neither of the directors nor the chief executive of the Company had interests and or short
positions in the shares of the Company, underlying shares and debentures of the Company
and its associated corporations (within the meaning of Part XV of the Securities and Futures
Ordinance (Chapter 571, Laws of Hong Kong) (the “SFO”)) which (i) are required to be
notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV
of the SFO (including interests and short positions which they are taken or deemed to
have under such provisions of the SFO); or (ii) were recorded in the register required to be
kept under Section 352 of the SFO, or (iii) have to be notified to the Company and the
Stock Exchange pursuant to the required standards of dealing by directors as referred to
in Rule 5.46 of the GEM Listing Rules.

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10
LONG POSITIONS IN UNDERLYING SHARES OF THE COMPANY

Share Option
As at 30 September 2007, there were a total of 92,000,000 outstanding share
options of the Company granted to the directors of the Company, details of
which are summarized in the following table:
Options to subscribe for shares of the Company
Outstanding Outstanding
as at Granted Exercised Lapsed as at Exercise
Date of 1 January during the during the during the 30 September price per
Director grant 2007 period period period 2007 Option exercise period share
Kwan Kin Chung 29/5/2007 — 16,000,000 ——16,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Tam Kam Biu William 29/5/2007 — 20,000,000 ——20,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Wan Xiaolin 29/5/2007 — 12,000,000 ——12,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Chen Man Lung 29/5/2007 — 16,000,000 ——16,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Leung Lap Yan 29/5/2007 — 8,000,000 ——8,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Leung Lap Fu Warren 29/5/2007 — 8,000,000 ——8,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Ip Chi Wai 29/5/2007 — 4,000,000 ——4,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Tse Wang Cheung
Angus 29/5/2007 — 4,000,000 ——4,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Shiu Kwok Keung 29/5/2007 — 4,000,000 ——4,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Total — 92,000,000 ——92,000,000
Notes:
The number of options granted and the exercise price was adjusted when the Share
Subdivision became effective on 3 July 2007.
The option exercise period is commenced from the date of grant for ten years. The options
may be exercised at any time within the option period provided that the options have
been vested. As at 30 September 2007, all options have been vested.
The closing price of the shares immediately before the date of grant of options was
HK$0.1125 (adjusted after the Share Subdivision).
Save as disclosed above, none of the directors or the chief executives of the
Company had any interest or short positions in any shares, underlying shares
or debentures of the Company or any of its associated corporations at 30
September 2007.

Bio Cassava Technology Holdings Limited
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11
SHARE OPTION SCHEMES

On 27 April 2007, a new share option scheme (the “New Share Option Scheme”)
was adopted by the shareholders of the Company and the share option scheme
adopted by the Company on 30 April 2002 (the “Old Share Option Scheme”)
was terminated accordingly on the same date. No share option was outstanding
under the Old Share Option Scheme.
As at 30 September 2007, options to subscribe for up to an aggregate of
756,760,000 shares of HK$0.0025 each had been granted by the Company under
the New Share Option Scheme. Details of the share options which had been
granted under the Share Option Scheme are as follows:
Options to subscribe for shares of the Company
Outstanding Outstanding
as at Granted Exercised Lapsed as at Exercise
Category of Date of 1 January during the during the during the 30 September price per
participant grant 2007 period period period 2007 Option exercise period share
Directors 29/5/2007 — 92,000,000 ——92,000,000 29/5/2007 to 28/5/2017 HK$0.1125
Employees other 29/5/2007 — 12,000,000 ——12,000,000 29/5/2007 to 28/5/2017 HK$0.1125
than the
directors
of the Company
Consultants 29/5/2007 — 652,760,000 ——652,760,000 29/5/2007 to 28/5/2017 HK$0.1125
Total — 756,760,000 ——756,760,000
Notes:
The number of options granted and the exercise price was adjusted when the Share
Subdivision became effective on 3 July 2007.
The option exercise period is commenced from the date of grant for ten years. The options
may be exercised at any time within the option period provided that the options have
been vested. As at 30 September 2007, all options have been vested.
The closing price of the shares immediately before the date of grant of options was
HK$0.1125 (adjusted after the Share Subdivision).
During the period, there were no options being exercised, cancelled or lapsed.

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12
Details of options granted to directors of the Company under the Share Option
Scheme are set out in the sub-section headed “Long Position in Underlying
Shares of the Company” under the section headed “Directors’ and Chief
Executive’s Interests and Short Positions in Shares, Underlying Shares and
Debentures”.
SUBSTANTIAL SHAREHOLDERS’ AND OTHER PERSONS’
INTERESTS AND SHORT POSITIONS IN SHARES AND
UNDERLYING SHARES

As at 30 September 2007, according to the register of interests kept by the
Company under Section 336 of the SFO, the following parties (in addition to
those disclosed above in respect of the directors and chief executives of the
Company) had interests or short positions in the shares or underlying shares of
the Company which were required to be recorded in the register and/or were
directly or indirectly interested in 5% or more of the issued share capital carrying
rights to vote in all circumstances at general meetings of any other members of
the Group :
Long positions in shares of the Company
Number of Approximate
Name of shareholder shares percentage holding
Step Up Co., Ltd. 1,636,490,000 21.06%
Mr. Kuan Sio Kai (Note (i)) 1,636,490,000 21.06%
Winway H.K. Investments Limited 1,943,510,000 25.01%
Culturecom Holdings Limited (Note (ii)) 1,943,510,000 25.01%
Notes:
(i) Mr. Kuan Sio Kai is deemed to be interested in 1,636,490,000 shares through his
controlling interest (100%) in Step Up Co., Ltd.
(ii) Winway H.K. Investments Limited is a wholly-owned subsidiary of Culturecom
Investments Limited, which is, in turn, a wholly-owned subsidiary of Culturecom
Holding (BVI) Limited. Culturecom Holding (BVI) Limited is a wholly-owned subsidiary
of Culturecom Holding Limited. Each of Culturecom Investments Limited,
Culturecom Holding (BVI) Limited and Culturecom Holdings Limited is deemed to
be interested in 1,943,510,000 shares through its controlling interest (100%) in Winway
H.K. Investments Limited.

Bio Cassava Technology Holdings Limited
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13
Save as disclosed above, as at 30 September 2007, the Directors are not aware
of any other persons who had interests or short positions in the shares or
underlying shares of the Company which were interested in 5% or more of the
issued share capital carrying rights to vote in all circumstances at general
meetings of any other members of the Group.
DIRECTORS’ INTERESTS IN COMPETING BUSINESS
None of the directors or management shareholders of the Company (as defined
in the GEM Listing Rules) has an interest in a business which competes or may
compete with the business of the Group.
PURCHASE, SALE OR REDEMPTION OF SECURITIES

The Company has not redeemed any of its shares during nine months ended
30 September 2007. Neither the Company nor any of its subsidiaries purchased
or sold of the Company’s listed securities during the nine months ended 30
September 2007.
CORPORATE GOVERNANCE

The Code on Corporate Governance Practices set out in Appendix 15 of the
GEM Listing Rules (“Code”) takes effect from 1 January 2005. The Company is
committed to maintain a high standard of corporate governance. To maintain a
good and solid framework of corporate governance will ensure the Company
to run its business in the best interests of the shareholders. Throughout the
nine months ended 30 September 2007 under review, the Company has
complied with the Code.
DIRECTOR’S SECURITIES TRANSACTIONS
The Company has adopted Rules 5.48 to 5.67 of the GEM Listing Rules as its
code of conduct for securities transactions by directors of the Company (“Code
for Director’s Dealings”). The Company has made specific enquiry with Directors
and all directors of the Company have complied with the requirements set out
in the Code for Director’s Dealing for the nine months ended 30 September
2007 under review.

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14
AUDIT COMMITTEE

The audit committee comprises three independent non-executive directors,
namely Mr. Ip Chi Wai, Mr. Tse Wang Cheung Angus and Mr. Shiu Kwok Keung,
with written terms of reference in compliance with code provision C.3.3 of the
Code as set out in Appendix 15 of the GEM Listing Rules. Mr. Ip Chi Wai is the
chairman of the audit committee.
The primary duties of the audit committee are to review and supervise the
Group’s financial reporting process and internal control procedures. The Group’s
unaudited condensed consolidated interim results for the nine months ended
30 September 2007 have been reviewed by the audit committee together with
management, which was of the opinion that the preparation of such results
complied with the applicable accounting standards and requirements and that
adequate disclosures have been made.
APPROVAL OF THE FINANCIAL STATEMENTS

The financial statements were approved by the Directors on 12 November 2007.
By order of the Board
Leung Lap Yan
Chairman
Hong Kong, 12 November, 2007
As of the date of this report, the Board comprises Mr. Kwan Kin Chung, Mr. Tam Kam Biu
William, Mr. Wan Xiaolin and Mr. Chen Man Lung as executive Directors, Mr. Leung Lap
Yan and Mr. Leung Lap Fu Warren as non-executive Directors, and Mr. Ip Chi Wai, Mr. Tse
Wang Cheung Angus and Mr. Shiu Kwok Keung as independent non- executive Directors.