1
Pico Far East Holdings Limited
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 752)
UNAUDITED INTERIM RESULTS
FOR SIX MONTHS ENDED APRIL 30, 2007

The Board of Directors (the “Board”) of Pico Far East Holdings Limited (the “Company”) is pleased to
announce the unaudited condensed consolidated results of the Company and its subsidiaries (the “Group”)
for the six months ended April 30, 2007, together with the unaudited comparative figures for the
corresponding period in 2006 as follows:
CONDENSED CONSOLIDATED INCOME STATEMENT

For the six months ended April 30, 2007
For the six months
ended April 30,
2007 2006

Unaudited Unaudited
Note HK$’000 HK$’000
Turnover 2 1,088,007 833,801
Cost of sales (747,670) (561,253)
Gross profit 340,337 272,548
Other income 20,060 26,777
Distribution costs (131,119) (110,163)
Administrative expenses (130,586) (119,985)
Other operating expenses (565) (220)
Profit from operations 98,127 68,957
Finance costs 3 (1,673) (1,357)
96,454 67,600

Share of profits of associates 8,469 7,973
Profit before tax 104,923 75,573
Income tax expense 4 (15,844) (12,857)
Profit for the period 5 89,079 62,716
Attributable to:
Equity holders of the Company 80,270 57,368
Minority interests 8,809 5,348
89,079 62,716

Dividends paid 6 41,806 97,344
EARNINGS PER SHARE 7

Basic 6.72 cents 5.01 cents
Diluted 6.70 cents 4.99 cents

2
CONDENSED CONSOLIDATED BALANCE SHEET

At April 30, 2007
April 30, October 31,
2007 2006

Unaudited Audited
Note HK$’000 HK$’000
Non-current Assets
Investment properties 20,870 20,870
Property, plant and equipment 267,613 255,340
Prepaid land lease payments 87,824 88,486
Goodwill 3,590 3,572
Interests in associates 95,519 84,820
Club membership 5,387 5,352
Available-for-sale financial assets 1,201 949
482,004 459,389

Current Assets
Inventories 18,729 19,855
Contract work in progress 49,025 34,393
Debtors, deposits and prepayments 8 528,586 589,092
Amounts due from associates 13,070 17,974
Taxation recoverable 1,593 405
Financial assets at fair value through profit or loss 2,574 1,493
Pledged bank deposits 8,600 8,564
Bank and cash balances 433,391 329,032
1,055,568 1,000,808

Current Liabilities
Payments received on account 195,991 161,148
Creditors and accrued charges 9 455,198 483,505
Amounts due to associates 2,854 1,580
Current tax liabilities 26,809 25,316
Borrowings 12,708 22,575
Finance lease obligations 2,012 1,688
695,572 695,812

Net Current Assets 359,996 304,996
Total Assets Less Current Liabilities 842,000 764,385
Non-current Liabilities
Borrowings 21,459 16,329
Finance lease obligations 4,437 3,909
Deferred tax liabilities 12,629 12,113
38,525 32,351

Net Assets 803,475 732,034
Capital and Reserves
Share capital 59,724 59,515
Reserves 682,107 623,261
Equity attributable to equity holders of the Company 741,831 682,776
Minority Interests 61,644 49,258
Total Equity 803,475 732,034

3
NOTES TO THE CONDENSED FINANCIAL STATEMENTS

For the six months ended April 30, 2007
1. BASIS OF PREPARATION AND PRINCIPAL ACCOUNTING POLICIES

These unaudited condensed consolidated interim financial statements have been prepared in accordance with the
applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The
Stock Exchange of Hong Kong Limited (the “Listing Rules”) and the Hong Kong Accounting Standard (“HKAS”)
34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”).
These unaudited condensed consolidated interim financial statements have been prepared under the historic cost
convention, as modified by investment properties and certain investments which are carried at their fair values.
The accounting policies and basis of preparation used in the preparation of these unaudited condensed interim
financial statements are consistent with those used in the annual accounts for the year ended October 31, 2006.
In the current interim period, the Group has applied, for the first time, a number of new and revised Hong Kong
Financial Reporting Standards (“HKFRSs”) and HKASs and Interpretations (hereinafter collectively referred to
as (“new HKFRSs”) issued by the HKICPA that are effective for accounting periods beginning on or after
November 1, 2006. The adoption of these new HKFRSs did not result in substantial changes to the Group’s
accounting polices and amounts reported for the current year and prior years.
The Group has not applied the new HKFRSs that have been issued but are not yet effective. The application of
these new HKFRSs will not have material impact on the financial statements of the Group.
2. TURNOVER AND SEGMENT INFORMATION

The Group is principally engaged in the exhibition stand design and fabrication; museum, theme park and
interior fit-out; sign advertising; and their related business.
(i) Primary reporting format – geographical segments
The Group operates, through its subsidiaries or associates on a worldwide basis, and mainly in three
major geographical areas - Greater China (including Hong Kong, Mainland China, Macao and Taiwan),
Asia other than Greater China (including mainly Singapore, Malaysia, Japan, Middle East, South Korea,
Vietnam, etc), and other countries including North America, United Kingdom and France.
In presenting information on the basis of geographical segments, segment turnover and segment operating
results are based on the geographical location of customers, as follows:
Income Statement
For the six months ended April 30, 2007
Asia
other than
Greater Greater
China China Others Elimination Group
Unaudited Unaudited Unaudited Unaudited Unaudited
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
REVENUE

External sales 521,585 469,078 97,344 – 1,088,007
Inter-segment sales 131,393 18,484 6,592 (156,469) –
Total revenue 652,978 487,562 103,936 (156,469) 1,088,007
Inter-segment sales are charged at prevailing market rates.
RESULTS

Segment results 44,075 53,533 5,219 102,827
Interest income 3,963
Unallocated costs (8,663)
Profit from operations 98,127
Finance costs (1,673)
Share of profits of associates 4,245 3,318 906 8,469
Profit before tax 104,923
Income tax expense (15,844)
Profit for the period 89,079

4
Income Statement
For the six months ended April 30, 2006
Asia
other than
Greater Greater
China China Others Elimination Group
Unaudited Unaudited Unaudited Unaudited Unaudited
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
REVENUE

External sales 357,743 355,371 120,687 – 833,801
Inter-segment sales 64,375 18,764 7,598 (90,737) –
Total revenue 422,118 374,135 128,285 (90,737) 833,801
Inter-segment sales are charged at prevailing market rates.
RESULTS

Segment results 26,345 40,299 6,702 73,346
Interest income 2,332
Unallocated costs (6,721)
Profit from operations 68,957
Finance costs (1,357)
Share of profits of associates 4,968 2,702 303 7,973
Profit before tax 75,573
Income tax expense (12,857)
Profit for the period 62,716
(ii) Secondary reporting format – business segments
The Group’s business is mainly categorised into three main business segments:
• Exhibition and exhibition related business;
• Museum, theme park and interior fit-out; and
• Sign advertising.
Revenue, which is also the Group’s turnover, analysed is as follows:
For the six months
ended April 30,
2007 2006

Unaudited Unaudited
HK$’000 HK$’000
Exhibition and exhibition related business 937,563 742,452
Museum, theme park and interior fit-out 70,556 35,581
Sign advertising 79,888 55,768
1,088,007 833,801
3. FINANCE COSTS

For the six months
ended April 30,
2007 2006

Unaudited Unaudited
HK$’000 HK$’000
Interest on bank borrowings 1,526 1,292
Finance charges in respect of finance lease obligations 147 65
Total borrowing costs 1,673 1,357

5
4. INCOME TAX EXPENSE

For the six months
ended April 30,
2007 2006

Unaudited Unaudited
HK$’000 HK$’000
The charge comprises:
Profits tax for the period
Hong Kong 2,069 4,570
Overseas 13,311 9,198
Under (Over) provision in prior periods
Hong Kong 205 (1,514)
Overseas 238 714
15,823 12,968

Deferred tax 21 (111)
15,844 12,857

Hong Kong profits tax is calculated at 17.5% (2006: 17.5%) on the estimated assessable profit for the period. A
portion of the Group’s profit is derived offshore and is not subject to Hong Kong profits tax.
Tax charge on profits assessable elsewhere have been calculated at the rates of tax prevailing in the countries in
which the Group operates, based on existing legislation, interpretation and practices in respect thereof.
The Group did not have any significant unprovided deferred tax for the period.
5. PROFIT FOR THE PERIOD

Profit for the period has been arrived at after charging:
For the six months
ended April 30,
2007 2006

Unaudited Unaudited
HK$’000 HK$’000
Depreciation 15,367 13,573
Cost of inventories sold 71,335 55,091
Allowance for bad and doubtful debts 1,249 14,464
Loss on disposal of property, plant and equipment 544 219
Operating lease rentals in respect of:
– Land and buildings 785 202
and after crediting:
Interest income 3,963 2,332
Gain on disposal of property, plant and equipment 456 7
6. DIVIDENDS PAID

For the six months
ended April 30,
2007 2006

Unaudited Unaudited
HK$’000 HK$’000
2006 final dividend – HK3.5 cents per share (2005: HK3.5 cents per share) 41,806 40,083
2006 special dividend – Nil (2005: HK5 cents per share) – 57,261
41,806 97,344

Notes:
(a) The 2006 final dividend of the year ended October 31, 2006 of HK$41,806,000 (2005: HK$40,083,000)
and a special dividend Nil (2005: HK$57,261,000), were approved after the balance sheet date. Under the
Group’s accounting policy, they were charged in the periods in which they were proposed and approved.
(b) The Board of directors has determined that an interim dividend of HK3.5 cents per share (2006: HK2
cents) be payable on Friday, July 27, 2007 to the shareholders on the register of members of the Company
on Monday, July 23, 2007.

6
7. EARNINGS PER SHARE

The calculation of the basic and diluted earnings per share is based on the following data:
For the six months
ended April 30,
2007 2006

Unaudited Unaudited
HK$’000 HK$’000
Earnings for the purposes of basic and diluted earnings per share 80,270 57,368
Weighted average number of ordinary shares for the purpose of
basic earnings per share 1,194,210,347 1,145,029,045
Effect of dilutive potential ordinary shares in respect of options 3,555,014 4,868,388
Weighted average number of ordinary shares for the purpose of
diluted earnings per share 1,197,765,361 1,149,897,433
8. DEBTORS, DEPOSITS AND PREPAYMENTS

The Group allows an average credit period of 30 to 90 days to its trade customers.
Included in debtors, deposits and prepayments are trade debtors of approximately HK$390,696,000 (as at October
31, 2006: HK$472,069,000), an ageing analysis of which at the reporting date is as follows:
April 30, October 31,
2007 2006

Unaudited Audited
HK$’000 HK$’000
0 - 90 days 323,157 409,743
91 - 180 days 44,950 29,998
181 - 365 days 14,976 15,084
More than 1 year 7,613 17,244
390,696 472,069
9. CREDITORS AND ACCRUED CHARGES

Included in creditors and accrued charges are trade creditors of approximately HK$191,701,000 (as at October
31, 2006: HK$258,248,000), an ageing analysis of which at the reporting date is as follows:
April 30, October 31,
2007 2006

Unaudited Audited
HK$’000 HK$’000
0 - 90 days 162,678 228,695
91 - 180 days 18,684 17,059
181 - 365 days 3,442 5,917
More than 1 year 6,897 6,577
191,701 258,248
10. COMPARATIVE FIGURES

Certain comparative figures have also been reclassified to conform to the current year’s presentation. The new
classification of the accounting items was considered to provide a more appropriate presentation of the state of
affairs of the Group.

7
INTERIM DIVIDEND

The Board recommends the payment of an interim dividend of HK3.5 cents per share for the period
ended April 30, 2007 (six months ended April 30, 2006: HK2 cents). The interim dividend will be
payable on Friday, July 27, 2007 to shareholders on the register of members of the Company on
Monday, July 23, 2007.
CLOSURE OF THE REGISTER OF MEMBERS

The register of members will be closed from Monday, July 23, 2007 to Thursday, July 26, 2007, both
days inclusive, during which period no transfers of shares will be registered. In order to qualify for the
interim dividend, all transfers accompanied by the relevant share certificates must be lodged with the
Company’s Registrars, Union Registrars Limited, at Room 1803, Fook Lee Commercial Centre, Town
Place, 33 Lockhart Road, Wanchai, Hong Kong, not later than 4:00 pm on Friday, July 20, 2007.
BUSINESS REVIEW AND PROSPECTS

Results
The Group has performed well for the six months ended April 30, 2007. During the period, business
turnover increased by about HK$254 million which is 30% higher than that of the previous corresponding
period.
Profit attributable to equity holders of the Company for the period was also improved to HK$80 million
(six months ended April 30, 2006: HK$57 million), which is 40% higher than the previous corresponding
period.
During the period under review, the Group designed and fabricated exhibition stands at several
international exhibitions such as:
1. Auto China 2006 held in November 2006 in Beijing and Auto Shanghai 2007 held in April 2007
in Shanghai
2. GITEX (Gulf Information Technology Exhibition) held in November 2006 in Dubai
3. The “ITU Telecom World” held in December 2006 in Hong Kong
4. SEMICON China 2007 held in March 2007 in Shanghai
5. Australian International Airshow held in March 2007 in the State of Victoria
6. The 28th Bangkok International Motor Show held in March 2007
7. The 5th International Exhibition on Fluid, Air and Gas Handling Systems held in March 2007 in
Ho Chi Minh City
8. China Sourcing Fair held in April 2007 in Hong Kong
The Group was also involved in the launching of road shows and events such as:
1. Canon road shows in 42 cities in China
2. Volkswagen road shows in 6 cities in China
3. The supply and construction of tentage at the 15th Asian Games held in December 2006 in Doha
4. Cathay Pacific International Chinese New Year Night Parade in February 2007 in Hong Kong
5. Microsoft’s launching of Vista in March 2007 in Hanoi and Ho Chi Minh City
In the museum, theme park and interior fit-out segment, some of the projects completed in the first half
of the financial year included:
1. Malaysia Export Exhibition Centre in Kuala Lumpur
2. Samsung mobile shops in Vietnam
3. Guggenheim Museum Temporary Art Gallery in Abu Dhabi
4. Ocean Park Kids’ World in Hong Kong
5. Children’s Museum in Bangkok
In the advertising signage segment, some of the projects that were started in the first half year included:
1. Infiniti car global re-imaging program
2. Volvo truck global signage supply
3. Cramo signage for delivery to Sweden
4. Shell international facilities way-finding signage system

8
Liquidity and Financial Information
The total net tangible assets of the Group was HK$738 million (as at October 31, 2006: HK$679
million). As at April 30, 2007, the bank and cash balances including pledged bank deposits was
approximately HK$442 million, representing a increase of HK$104 million or 31% when compared with
HK$338 million on October 31, 2006. The Group’s total borrowings decreased by HK$5 million compared
with that on October 31, 2006. Amount due within one year was HK$13 million (as at October 31, 2006:
HK$23 million), and the remaining portion due more than one year amounted to HK$21 million (as at
October 31, 2006: HK$16 million).
The liquidity ratios of the Group as at April 30, 2007 are as follows:
April 30, 2007 October 31, 2006
(i) Current ratio (Current assets / Current liabilities) 1.52 times 1.44 times
(ii) Liquidity ratio (Current assets – excluding inventory and
contract work in progress / Current liabilities) 1.42 times 1.36 times
(iii) Gearing ratio (Long term borrowings / Total assets) 1.40% 1.12%
In terms of liquidity, the Group continues to preserve our sound financial position. The current ratio and
liquidity ratio were stable. The gearing ratio was increased from 1.12% to 1.40% at the end of the
period. All in all, the long term and short term liquidity continue to be healthy, and the existing
financial position can facilitate us to capitalize on any future business opportunities.
Although our subsidiaries are located in many different countries of the world, over 69% of the Group
sales and purchases were denominated in Singapore dollars, Hong Kong dollars, Renminbi and US
dollars, and the remaining approximately 31% were denominated in other Asian currencies and European
currencies. Bank borrowings are mainly denominated in Singapore dollars, Hong Kong dollars and
Renminbi, and the interest is charged on a floating rate basis.
Since we are already diversified in many different currencies and the major Asian currencies have been
quite stable throughout the period, the Group’s exposure to foreign exchange risk is minimal.
Employees and Emoluments Policies
As at April 30, 2007, the Group employs a total of approximately 2,100 full time employees (as at
October 31, 2006: 2,000) engaged in project management, design, production, sales and marketing and
administration, which was supported by a large pool of subcontractors and suppliers. The staff costs
incurred in the period was HK$174 million (six months ended April 30, 2006: HK$144 million).
The Group’s emolument policies are formulated on the performance of individual employees and on the
basis of the trends of salaries in various regions, which will be reviewed regularly every year. Apart
from provident fund scheme and medical insurance, discretionary bonuses and employee share options
are also awarded to employees according to the assessment of individual performance.
Pledge of Assets
As at April 30, 2007, the following assets were pledged as collaterals for credit facilities granted to the
Group by certain banks. The pledged bank deposits are applied to secure short-term bank borrowings.
April 30, October 31,
2007 2006

Unaudited Audited
HK$’000 HK$’000
Pledged bank deposits 8,600 8,564
Freehold land and buildings 15,760 14,874
Leasehold land 4,337 50,106
Leasehold buildings 142,944 148,329
Investment properties 3,870 13,870
Trade debtors 17,179 14,069
Inventories 116 966
Equipment 2,768 1,361
195,574 252,139

9
Commitments
(i) Operating Lease Commitments
As at April 30, 2007, the Group had the total future minimum lease payments under non-cancellable
operating leases in respect of rented premises and equipment are payable as follows:
April 30, 2007 October 31, 2006
Rented Rented
premises Equipment premises Equipment
Unaudited Unaudited Audited Audited
HK$’000 HK$’000 HK$’000 HK$’000
Within one year 15,377 686 12,028 438
In the second to fifth year inclusive 43,676 505 31,813 141
Over five years 82,323 – 75,652 –
141,376 1,191 119,493 579

(ii) Capital Commitments
The Company did not have any significant capital commitments as at April 30, 2007.
Contingent Liabilities
THE GROUP THE COMPANY

April 30, October 31, April 30, October 31,
2007 2006 2007 2006

Unaudited Audited Unaudited Audited
HK$’000 HK$’000 HK$’000 HK$’000
Guarantees given to banks in respect of
banking facilities granted to
– subsidiaries – – 513,239 443,473
– associates 4,000 4,000 – –
– investee company 4,000 4,000 – –
8,000 8,000 513,239 443,473

Performance guarantees
– secured 6,001 10,851 – –
– unsecured 19,025 5,624 – –
25,026 16,475 – –
Other guarantees
– secured – – – –
– unsecured 6,935 6,704 – –
6,935 6,704 – –

10
As at balance sheet date, Pico Art International Pte Limited, a subsidiary of the Company, together with
a Group’s subsidiary and an associate in Dubai, have been named as first defendants in a civil proceeding
in Dubai brought by the other shareholder of the Company’s subsidiary, Pico International (Middle
East) L.L.C. (“PIME”) which had filed for liquidation and not traded since the middle of 2002, for an
amount of Dirhams 30 million or HK$62 million for alleged loss of profits by PIME. The Group has
sought legal advice in Dubai against this proceeding and are currently disputing the claim and no
provision for any potential liability has been made in the financial statements. The plaintiff’s case
against the above mentioned defendants were dismissed by the lower and higher courts in July 2006 and
February 2007 respectively, and the plaintiff has appealed to the final court of appeal.
Last year, Pico Hong Kong Limited (“Pico Hong Kong”), a subsidiary of the Company, was notified of
a default judgement given by a district court in northern Italy against it in the sum of about Euro 1
million or HK$11 million. Pico Hong Kong appealed and the court has suspended the enforcement of
the default judgement pending a further hearing in July 2007. No potential liability has been made in the
financial statements as Pico Hong Kong did not enter into any purchase of services contract with the
plaintiff which is the subject of the plaintiff’s claim. Pico Hong Kong was only a shareholder of an
Italian company now in liquidation to which the plaintiff supplied services at the Torino Winter Olympics
2006.

Prospects
Tradeshows and event marketing activities will continue to grow in Asia due to the fast growing
markets in China, India and the Middle East’s Gulf countries.
Tradeshows are usually annual events. They allow numerous buyers and sellers to meet in a specific
venue such as a purpose-built exhibition hall within a short period of time.
Supplementing tradeshows are road shows, which are launched by the individual companies to push
their products directly to the consumers.
Both tradeshows and road shows are event marketing activities, which constitute the 3-dimensional
spectrum of a company’s advertising and promotion budget.
The prospects of the Group’s event marketing business remain bright in the foreseeable future along
with global trade growth.
Some of the well known tradeshows and road shows where the Group will be involved in the second six
months include projects at the Paris Airshow in June 2007, CommunicAsia in June 2007 (Singapore),
Oracle OpenWorld Asia Pacific in July 2007 (Shanghai), Vietnam Computer Electronics World Expo in
July 2007, National Science Week in August 2007 (Bangkok), China International Sewing Machinery &
Accessories Show in September 2007 (Shanghai), Jewellery and Watch Fair in September 2007 (Hong
Kong), China Sourcing Fair in October 2007 (Hong Kong) and many others.
Events where the Group will be involved this year include the Equestrian Test Events to be held in
August 2007 in Hong Kong and the Singapore National Day Parade in August 2007, besides others.
In the museum, theme park and interior fit-out segment, the Group is now involved in the Normandy
American Cemetery Visitor Centre in France (delivery in June 2007); the Hong Kong Disneyland’s “It’s
a Small World” project and the Singapore Land Transport Authority Visitor Centre; both for delivery by
December 2007, ongoing projects at the Venetian in Macao, further work at the Guggenheim Museum in
Abu Dhabi and several other interior fit-out for branded luxury products in various international cities.
Furthermore, more corporate event marketing activities are expected to be launched in China in the run-
up to the Beijing 2008 Olympic Games.

11
PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED SECURITIES
During the period ended April 30, 2007, neither the Company nor any of its subsidiaries has purchased,
sold or redeemed any of the Company’s listed securities.
CORPORATE GOVERNANCE

During the six months ended April 30, 2007, the Company has complied with the provisions of the Code
on Corporate Governance Practices (the “CG Code Provision”) as set out in Appendix 14 of the Listing
Rules, except for the following deviations:
CG Code Provision A2.1 stipulates that the role of Chairman and Chief Executive Officer should be
separate and should not be performed by the same individual. Given the current corporate structure,
there is no separation between the roles of Chairman and the Chief Executive Officer. Although the
responsibilities of the Chairman and the Chief Executive Officer are vested in one person, all major
decisions are made in consultation with the Board members and the senior management of the Company.
There are three independent non-executive directors and one non-executive director in the Board, the
Board considers that there is sufficient balance of power and the current arrangement maintains a strong
management position of the Company.
CG Code Provision A4.1 requires that non-executive directors should be appointed for a specific term,
subject to re-election. All existing non-executive directors of the Company are not appointed for specific
term, but are subject to retirement and re-election at the Company’s annual general meeting. The
Articles of Association of the Company requires one-third of the directors retire by rotation. In the
opinion of the Directors, it meets the same objective as the CG Code Provision A4.1.
MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS

The Company has adopted the Model Code set out in Appendix 10 to the Listing Rules as its own code
of conduct regarding securities transactions by the directors of the Company (the “Model Code”).
Having made specific enquiry of all directors of the Company, the Company confirms that all directors
of the Company have complied with the required standard set out in the Model Code for the period
ended April 30, 2007.
AUDIT COMMITTEE

The Audit Committee has reviewed with management the accounting principles and practices adopted
by the Group and discussed internal control and financial reporting matters including the review of the
unaudited interim financials.
DISCLOSURE OF INFORMATION ON WEBSITE

An announcement containing details of the matter is available for viewing on the website of Hong Kong
Exchanges and Clearing Limited website at www.hkex.com.hk under “Latest Listed Companies
Information” and at the website at http://pico.quamir.com/JSOD/jsp/e/ipo.jsp?lang=e&code=0752.
By Order of the Board
Leung Hoi Yan
Company Secretary
Hong Kong, June 26, 2007
As at the date of this announcement, (i) the executive directors of the Company are Mr. Lawrence Chia
Song Huat, Mr. James Chia Song Heng and Mr. Yong Choon Kong; (ii) the non-executive director is
Mr. Frank Lee Kee Wai; (iii) the independent non-executive directors are Mr. Gregory Robert Scott
Crichton, Mr. Charlie Yucheng Shi and Mr. James Patrick Cunningham.
“Please also refer to the published version of this announcement in The Standard”