Goodbaby International Holdings Limited

1086

(1)
(2)
(3)

(4)

9 37 38
39 71

18 35
EGM-1 EGM-2

183 17M
48

......................................................................................................................... 1

.............................................................................................................. 9

................................................................................................ 38

.................................................................................................... 39

.............................................................................. I-1

A ....................................................................... IIA-1

B .................................................. IIB-1

C .............................................. IIC-1

............................................................................................ III-1

.................................................................................................... N-1

CAEL Cayey Enterprises Limited

Credit Suisse
Trust Limited Gappa Trust

120,485,816

1086

PUDCAELSGILROSLSIML
Kobler
Martin Pos Jan
Rezab

536,100,000

COOP Coop Investment Company Ltd.

(ii) (1)
(2)

FTHL Fine Time Holdings Limited

Golden Phoenix
Trust Credit Suisse Trust
Limited

Grappa Trust
Credit Suisse
Trust Limited

(a)
(b)

1
6

3.49

IPR

Kobler Sharon Nan Kobler

PUD Pacific United Developments Limited

(1) CAEL 51.19%

(2) Powergain Global Limited

12.37%

(3) Lexidirect Corporation 10%

9.69%

(4) 127 26.75%

12,768,000

IPR

Goodbaby eu gbFamily
by gb

(i) Mothercare Mothercare

Mothercare UK
Mothercare
Mothercare
MothercareELC

(ii) Kids Sports

Nike

Adidas
Skechers

PUMA
Converse

GEOX
The North Face

Clarks
Reebok
Columbia

(iii)
O2O

(iv) OEM

VLVLWAWAFTHL COOP

(1)

(2) 13.04%

(3)

ROSL Rosy Phoenix Limited

Credit Suisse Trust
Limited Golden Phoenix Trust

Family by GBgb

SGIL Sure Growth Investments Limited

44.44%22.22%16.67%11.11%
5.56%

0.01

SIML Silvermount Limited

Oasis Dragon Limited

Goodbaby China Holdings Limited

VLVL Victor Lead Ventures Limited

WAWA WAWA Investment Company Ltd.

PUD

26 1

1.00 0.863

1.00 6.777

1.00 0.128

Goodbaby International Holdings Limited

1086

Cricket Square
Martin POS Hutchins Drive
P.O. Box 2681
Grand Cayman
KY1-1111
Jan REZAB Cayman Islands

Iain Ferguson BRUCE 28
215331

338
2
20 2001

(1)
(2)
(3)

(i) (ii)
(iii)
(iv)

(i)
(ii)

360,000,000 2,812,176,000
120,485,816 941,187,000

36,000,000 (i) (ii)

(i)

(a) (i)
(ii) (iii) (i)

10


(ii)
30

(b)

30

(ii)

(a)
30

(b)
30

12,768,000

80 120
30 50

(a) 536,100,000

11


(b) 80,578,109 10%

540

PUDCAELSGILROSL SIML

1
2)

360,000,000
175.4
13.9 16.4 26.6

20.7

12


758.2

(i) (ii)
(iii) (iv)
(v) (vi)
30

3.49
30

1. 3.28 6.4%

2. 5
3.32 5.1%

3. 10
3.35 4.2%

4. 30
3.33 4.8%

13


5. 2.22
57.2%

6. 4.12 15.3%

1.

2.

(a)

(b)

(c)

3.

4.

(a)

(b)

14


5.

6.

7. (a)

(b)

8.

9.

10. (a) IPR

(b)

11.

1 4

15


1 4

(i)
PUD (ii) (iii)
5%
10% (iv)

(i) (ii)
30%

i VLVLWAWAFTHL
COOP PUD 28.07%CAEL
26.02%SGIL 24.12%ROSL 16.37% SIML 5.42%

16


ii
PUD 24.73%CAEL 8.42%SGIL 7.81%
ROSL 5.30% SIML 1.75%

PUDCAEL
SGILROSL SIML
VLVLWAWAFTHL COOP

VLVLWAWAFTHL COOP (i)

(ii)
VLVLWAWAFTHL COOP

IPR
IPR 18 24

IPR

IPR

IPR

IPR

17


PUD 259,000,000 23.13% 409,518,229 24.73%

3

3
Kobler
3
3

3
CAEL 139,476,352 8.42%
SGIL 129,293,975 7.81%
ROSL 87,753,871 5.30%
SIML 29,057,573 1.75%

259,000,000 23.13% 795,100,000 48.01%

Martin Pos 2 39,033,498 3.48% 39,033,498 2.36%

Jan Rezab 2

VLVL
WAWA
FTHL
COOP

821,804,502 73.39% 821,804,502 49.63%

1,119,838,000 100.00% 1,655,938,000 100.00%

18


1.

2. Martin Pos Jan Rezab (6) PUD

(6)

3.

1,390,000
1,390,000
Martin Pos 2,400,000
2,400,000
2,400,000
2,400,000
Jan Rezab 5,000,000

19


PUD 25.90%CAEL 24.00%SGIL

22.25%ROSL 15.10%SIML 5.00%VLVL 4.28%WAWA 1.17%FTHL 1.15% COOP 1.15%

20



1. CAEL Credit Suisse Trust Limited Credit Suisse Trust Limited

Grappa Trust

2. PUD CAEL 51.19% Powergain Global Limited

12.37% Lexidirect Corporation 9.69% 127 Kobler
0.76% 26.75% 127 127
PUD 4% Lexidirect Corporation
10% 90% Powergain Global Limited

3. SGIL 44.44% 22.22% 16.67%

11.11% 5.56%

4. ROSL Credit Suisse Trust Limited Golden Phoenix Trust

Credit Suisse Trust Limited

5. SIML

6. VLVL

7. WAWA

8. FTHL

9. COOP

PUDSGIL
CAELROSL SIML

21


1. 49%

2. Zhang Benjin 49%

3. Li Xiaofeng 20%

22


(i)
(ii)

(i)

gbFamily by GB

0 4 5 8

gbgb
44

406

41 27
14

23


(ii)

(i) haohaizi.com (ii)

986

54

24


1 7 7 8 7
1
4 4 4 4
110 139 161 182

2 840 885 945 986

3
50 52 53 54

1. (i) haohaizi.com (ii)

2.

3.

1,678,738 1,854,631 1,937,395 920,669 1,205,911

109,095 135,840 136,258 44,988 144,687
80,685 101,594 100,799 32,892 107,510

25


72,725,000 84,244,608
168,623,000
195,332,808

A B

6,199,376,000 9,257,764,000
3,551,441,000 4,768,610,000

48.6%

47.0%

CybexgbEvenflo

26


10,739,920

OEM

CybexEvenflo

(1)

(2)
BOOM

(3)

(i)
(ii)

27


gb

gb

28


15.3%

14.4% 14.8% 1,248 2,062

1,974
3,670 13.2%

7,451
15.2%

614
23.3% 16.7%
23.4%

29


3,056 13.3%

30


11
183 986
150

819,687
1,197,970 728,205

31


(i)298,033,498
26.61% (ii)17,380,000
298,033,498 27.74%

i PUD 259,000,000 23.13%

ii Martin Pos 39,033,498

3.48%

iii 17,380,000
1.55%

1,390,000
1,390,000
Martin Pos 2,400,000
2,400,000
2,400,000
2,400,000
Jan Rezab 5,000,000
17,380,000

Martin Pos Jan Rezab (6) PUD

(6)

(i)
834,133,498 (a)

32


74.49%(b) 50.37% (ii)

Martin Pos Jan Rezab
795,100,000
48.01%

26 1

26

ii

iii

50% (6)

1,119,838,000 70,130,500

33


1. 22 4

2.
22 4
3

3. 22 4

4. 22 4 22
8

5.

6.

7.

25% 100%

34


14A.76(1)
A

Martin Pos Jan Rezab

Iain Ferguson Bruce

(i)
(ii)
(iii)

Iain Ferguson Bruce 800,000

800,000
800,000
1,000,000

35


PUDCAELSGILROSLSIML
25%

(a)
(b)

i. PUD 259,000,000 23.13%

ii. Martin Pos 39,033,498

3.48%

36


(i)
(ii)

37


Goodbaby International Holdings Limited

1086

(1)
(2)
(3)

(i)
(ii)

Iain Ferguson Bruce

38


29

20

(1)
(2)

(3)

360.0
120.5 941.2

A

25% 100%

39


298,033,498
26.6%
834,133,498
50.4%

26
26 1

Iain Ferguson Bruce

40


1.

1.1

Cybexgb
Evenflo

OPM Columbus
Holdings GmbH
Cybex
WP Evenflo Group Holdings, Inc.Evenflo

(OPM)
75%

gbHappy Dino

OPM

CybexEvenflo

41


67.4%

13.3%12.5% 12.5%

1.2

3,295,589 3,214,894 6,238,179 6,951,131 6,115,592

1,195,055 1,074,488 2,111,464 2,050,212 1,527,535

36.3% 33.4% 33.8% 29.5% 25.0%

125,923 110,108 212,240 202,672 57,724

3.8% 3.4% 3.4% 2.9% 0.9%

124,704 107,140 207,390 197,434 57,475

0.11 0.10 0.19 0.18 0.05

(i) (ii)
(iii) 6,115.6 13.7%
6,951.1 CybexEvenflo

10.3%
2.9% 24.7%

3,295.6
2.5%

42


25.0% 33.8%
OPM
2.9 36.3%

197.4

Evenflo
124.7
16.4%

2,614,377 2,519,156 2,487,825 2,557,204

3,584,999 2,999,582 3,433,726 3,964,860

2,584,155 1,855,256 2,202,865 3,107,370

967,286 1,185,320 1,310,584 1,087,034

2,647,935 2,478,162 2,408,102 2,327,660

2,609,577 2,440,280 2,365,258 2,296,904

38,358 37,882 42,844 30,756

2,647,935 2,478,162 2,408,102 2,327,660

2.33 2.19 2.13 2.09

43


(i) 1,255.5 (ii)

883.5
(iii) 834.1
(iv) 737.8 (v) 728.6
(vi) 689.4

1,456.2 1,167.3

48.6%

2.

44


(i)
OPM

(ii)

(iii)

(iv)

3.

3.1 100%

360.0 2,812.2

3.2

120.5 941.2
239.5 1,871.0
536,100,000

45


36.0

(i)
(i) (ii) (iii)

(a)

(b)

(ii)

(a)

(b)

-12,768,000
30

C 4

2,954.1 5.0%

46


536,100,000
47.9% 32.4%

(i)

(ii) 80,578,109 10%

540

3.49

(i) (ii)
(iii) (iv)
(v) (vi)

47


3.3

(i)

(ii) (a)
(b) (c)

(iii)

(iv) (a)
(b)

(v)

(vi)

(vii) IPR

(i)(ii)(iii) (iv)

48


3.4

(i)
PUD (ii) (iii)
5%
10% (iv)

3.5

3.6 IPR

18 24
IPR
IPR
IPR

49


IPR
IPR

4.

4.1

Goodbaby

50


1. 49.0%

2. Zhang Benjin 49%

3. Li Xiaofeng 20%

51


(i)
(ii)

OEM

986 406 54

(haohaizi.com)
JD 183

52


4.2

1,205,911 920,669 1,937,395 1,854,631 1,678,738

(687,590) (527,565) (1,121,391) (1,064,686) (966,981)

518,321 393,104 816,004 789,945 711,757

43.0% 42.7% 42.1% 42.6% 42.4%

3,247 2,125 7,432 9,599 10,624

(343,622) (293,888) (593,030) (579,167) (540,821)
(31,851) (45,536) (75,917) (69,040) (52,305)
(1,408) (1,604) (4,585) (3,883) (5,229)
(9,213) (13,646) (11,614) (14,931)

144,687 44,988 136,258 135,840 109,095

(37,177) (12,096) (35,459) (34,246) (28,410)

107,510 32,892 100,799 101,594 80,685

8.9% 3.6% 5.2% 5.5% 4.8%

EBIT 144,687 54,201 149,904 147,454 124,026

106,663 32,719 100,624 100,419 80,390

53


(i)
(ii)
(iii)

630,802 508,729 1,057,786 1,086,607 970,474
376,446 272,423 578,670 486,613 412,136
198,663 139,517 300,939 281,411 296,128

1,205,911 920,669 1,937,395 1,854,631 1,678,738

10.5% 1,854.6
4.5% 1,937.4

1,205.9
31.0%

OEM

644.1 700.5 666.3
431.7

54


42% 43%

33.0% 33.1% 32.5% 32.4% 32.4%
50.9% 50.9% 50.5% 51.5% 50.5%
59.6% 61.7% 59.9% 66.7% 64.0%

43.0% 42.7% 42.1% 42.6% 42.4%

55


EBIT

EBIT
26,237 10,167 25,957 24,486 26,885
106,170 67,263 150,052 126,840 103,183
27,556 5,241 11,912 30,941 37,117

EBIT 159,963 82,671 187,921 182,267 167,185

(15,276) (28,470) (38,017) (34,813) (43,159)

EBIT 144,687 54,201 149,904 147,454 124,026

EBIT 124.0 149.9

EBIT 166.9%

80.7
101.6 100.8

4.8%5.5% 5.2%

3
32.9 107.5

175.4 203.3

TTM

56


39,049 44,978 39,464 44,564
1 1 1 1
1,068 454 747 942
16,509 14,117 4,554 6,726

56,627 59,550 44,766 52,233

305,350 285,218 265,562 261,934
270,721 201,846 156,856 130,481

44,097 44,151 55,942 51,389
209,093 17,102 400,511 314,070
56,533 19,375 62,104 20,707

885,794 567,692 940,975 778,581

942,421 627,242 985,741 830,814

57


108,720 109,088 92,345 86,575
211,144 160,101 89,985 96,517
414,529 254,999 262,609 307,101
110,000 115,000
39,405 28,867 363 623

773,798 553,055 555,302 605,816

168,623 74,187 430,439 224,998

150,000 49,000
1,462 1,430 1,423

1,462 151,430 50,423

773,798 554,517 706,732 656,239

111,996 14,637 385,673 172,765

168,623 72,725 279,009 174,575

152,990 57,938 264,398 163,979

942.4 (i)
305.4 (ii)
270.7 (iii)
209.1

6.0%

58


773.8 (i)
414.5 95.4%
(ii) 211.1
(iii)
108.7

153.0

113.0

(i)

(ii)

59


(i) (ii)

13.2%
7,451
15.2%

614
23.3%

17.9
15.0%

60


5.

(i) (ii)
10 (iii)

61


TTM

1 TTM

2 3

Carters Inc (CRI.US) 86.71 4,147.7 258.1 252.5 16.1 16.4

The Childrens Place 106.15 1,872.5 102.3 128.9 18.3 14.5

Inc (PLCE.US)

1,158.0 80,584.1 5,118.0 5,051.0 15.7 16.0

(Nishimatsuya Chain
Co Ltd) (7545.JP)

Mothercare Plc 100.0 170.9 8.2 8.2 20.8 20.8

(MTC.LN)

Baby Bunting Group 1.84 231.3 12.2 12.2 19.0 19.0

Ltd (BBN.AU)

18.0 17.3
18.3 16.4
20.8 20.8
15.7 14.5

2,954.1 116.8 203.3 25.3 14.5

4 5 6

(1) 1698

(2)

(3)

62


(4) 2,954

(5) 100.8 116.8

(6) TTM

25.3

TTM
14.5 17.3
16.4

TTM

TTM 203.3
70%

TTM

63


6.

6.1

3.57 3.71

20.5% 4.3% 3.87
4.43

3.40 212.2
3.60
3.87
3.49
3.28

64


3.61 10.1%

3.49
3.69
2.5% 16.4%
5.1% 3.88
4.12

6.2

1 2

28,989,501 2.6% 3.5%
52,332,741 4.7% 6.4%
78,258,845 7.0% 9.6%
38,217,948 3.4% 4.7%
54,552,071 4.9% 6.7%
48,385,497 4.3% 5.9%

35,303,155 3.2% 4.3%
53,276,094 4.8% 6.5%
63,475,625 5.7% 7.8%
37,259,440 3.3% 4.6%
38,408,973 3.4% 4.7%
51,517,508 4.6% 6.3%
73,503,906 6.6% 8.9%
51,262,380 4.6% 6.2%

65


(1)

(2)

2.6% 7.0%
3.5% 9.6%

55,800,000 75.9%

6.3

3.49

1. 3.28
6.4%

2. 30
3.33 4.8%

3. 60
3.4962 0.2%

4. 90
3.5291 1.1%

5. 4.12 15.3%

6. 2.22
57.2%

3.28 3.87
30
3.49 60 90

66


0.2% 1.1%
60 90

7.

7.1

(i)298,033,498
26.6% (ii)17,380,000
298,033,498 27.7%

834,133,498 (i) 74.5%
(ii) 50.4%

26

7.2

(i) (ii)
(iii)

67


8.

(i) (ii)
(iii)

Martin Pos 259,000,000 23.1% 795,100,000 48.0%
2
Martin Pos 39,033,498 3.5% 39,033,498 2.4%
821,804,502 73.4% 821,804,502 49.6%

1,119,838,000 100.0% 1,655,938,000 100.0%

(1)

(2) Martin Pos (6) PUD (6)

73.4% 49.6%

68


(i) (ii)
(a) 30
(b) 60 90 180

9.

9.1

9.2

6,199.4
3,551.4 C

9,257.8 4,768.6

4
28

69


2,647.9
4,489.2
2.33
3.49

9.3

48.6%
C
47.0%
(i) C 3 100.0
(ii) (iii)

TTM
14.5 17.3 16.4

48.6%

70


3.49
4.12

73.4% 49.6%

26.6% 50.4%

1 6

71


1.

http://www.hkexnews.hk)

http://www.hkexnews.hk/listedco/listconews/SEHK/2015/0422/LTN20150422064_c.pdf

http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0425/LTN20160425434_c.pdf

http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0424/LTN20170424038_c.pdf

http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0827/LTN20170827092_c.pdf

0.05 0.05 55,430,000 55,759,000

I-1


2.

2016 12 31

2016 2015

5 6,238,179 6,951,131
(4,126,715) (4,900,919)

2,111,464 2,050,212
5 59,101 94,881
(982,468) (1,030,382)
(924,260) (794,064)
(50,199) (3,062)
6 3,347 7,246
7 (55,166) (60,466)
26 (30)
(8)

8 161,845 264,327
11 50,395 (61,655)

212,240 202,672

207,390 197,434
4,850 5,238
212,240 202,672

13

0.19 0.18

0.19 0.18

I-2


2016 12 31

2016 2015

212,240 202,672

(113,144) (129,390)

(113,144) (129,390)

4,345 325

4,345 325

(108,799) (129,065)

103,441 73,607

100,348 69,340
3,093 4,267

103,441 73,607

I-3


2016 12 31
2016 2015
12 31 12 31

14 858,194 878,769
15 53,895 59,608
16 811,662 819,619
17 655,866 682,256
814 844
30 130,880 43,092
18 7,845 3,637

2,519,156 2,487,825

19 1,099,846 1,244,756
20 644,440 695,599
21 187,381 143,629
37 284,395 303,758
22 310,347
23 758,153 705,291
23 2,726
23 25,367 27,199
24 421

2,999,582 3,433,726

25 926,464 941,205
26 557,925 463,929
28,307 68,205
27 63,928 37,353
28 278,236 691,700
29 388 465
8 8

1,855,256 2,202,865

1,144,326 1,230,861

3,663,482 3,718,686

I-4


2016 2015
12 31 12 31

3,663,482 3,718,686

28 950,521 1,005,918
27 63,708 78,732
29 12,717 14,216
31 12,475 10,577
30 145,899 201,141

1,185,320 1,310,584

2,478,162 2,408,102

32 11,151 11,086
34 2,429,129 2,354,172

2,440,280 2,365,258
37,882 42,844

2,478,162 2,408,102

I-5


2016 12 31

32 34 34 29 34

201511 11,010 1,183,406 15,524 20,873 140,270 168,006 (6,511) 153,975 610,351 2,296,904 30,756 2,327,660
197,434 197,434 5,238 202,672

325 325 325

(128,419) (128,419) (971) (129,390)

(128,419) 325 197,434 69,340 4,267 73,607

45 15,479 (15,524)
31 9,193 (2,680) 6,544 6,544
7,821 7,821
9,229 (9,229)

12,714 12,714 12,714

(20,244) (20,244) (20,244)

20151231
201611 11,086 1,208,078* * 30,907* 149,499* 39,587* (6,186)* 153,975* (20,244)* 798,556* 2,365,258 42,844 2,408,102
207,390 207,390 4,850 212,240

4,345 4,345 4,345

(111,387) (111,387) (1,757) (113,144)

(111,387) 4,345 207,390 100,348 3,093 103,441

(55,679) (55,679) (8,055) (63,734)
65 19,447 (5,666) 13,846 13,846
11,466 (11,466)

16,507 16,507 16,507

20161231 11,151 1,171,846* * 41,748* 160,965* (71,800)* (1,841)* 153,975* (20,244)* 994,480* 2,440,280 37,882 2,478,162

* 2,429,129,000 2015 2,354,172,000

I-6


2016 12 31

2016 2015

161,845 264,327

198,740 195,440
22,991 2,465
(26) 30
8
20,252 28,092
8,076
6,797
(644)
55,166 60,466
(3,347) (7,246)
(5,879) (3,242)
(1,576) 1,501
1,898 1,536
124,658 273,281
43,803 285,283
(44,110) 50,844
19,363 75,394
(4,208) (3,637)
(14,741) (194,518)
68,001 94,581
11,551 11,805
(132,533) (62,949)
(426)

536,001 1,072,391

I-7


2016 2015

(8)
(32,541)
(264,475) (183,843)
(14,465) (15,803)
(120,733)
304,001
3,705 6,888
5,879 3,242
2,726 47,997
264
35,753 11,002
73,388 (283,799)

13,846 6,544
901,742 387,549
(1,342,273) (989,022)
(53,108) (50,266)
1,832 138,608
(55,679)

(533,640) (506,587)

75,749 282,005
705,291 434,661
(22,887) (11,375)

23 758,153 705,291

I-8


2016 12 31

1.

2000 7 14
Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman
Islands 2010 11 24

Goodbaby(Hong Kong) Limited 100% 1,000

GBHK 1999 7 23

Goodbaby Childrens 100% 200,000

Products, Inc.GCPI
2002 5 16

100% 52,000,000
GCPC
1994 11 18

85%
GCPN 1996 9 9 10,000,000

2009 100%
PCPC 10,000,000

100%
GCPX 2011 12 26 2,000,000

I-9


Jiangsu EQO Testing Services 100%

Co. Ltd.EQTC 2012 11 30 5,000,000

Serena Merger Co., Inc. 100% 1,000

SERE 2014 5 16

Evenflo Company, Inc. 100% 86,500

EFCD 1992 10 1

Muebles Para Ninos De Baja, 100% 1,720,000

S.A. De C.V.EFMX 1987 6 29

Evenflo Canada Inc.EFCA 100% 7,000

1991 3 18

Columbus Trading-Partners 100% 100

GmbH & Co. KGCTPE 2016 2 26

Goodbaby Czech Republic 2016 8 25 100% 200,000.00

s.r.o.GBCZ

Goodbaby (Europe) Gmbh & 100% 100

Co KGGEGC 2014 1 28

Cybex GmbHCBGM 94.5% 33,400

2014 3 5

GB GmbHGBGM 100% 25,000

2015 8 21

Columbus Trading Partners 100% 1

USA Inc.CBUS 2014 11 24

I-10


Columbus Trading Partners 70% 500,000

Scandinavia A/SCBDK 2015 9 1

2.1

2016 12 31

(a)

(b)

(c)

I-11


(i)
(ii) (iii) (i)
(ii) (iii)

2.2

10
12
28
11
14
1
16
38
16
41
27
2012 2014

I-12


2.3

2 2
4 9
4 2
9 2
10
28 4
15 2
15 15 2
16 3
7 1
12 1
40 2
2
22
12 1
2014 2016

1 2
2014 2016

28 2
2014 2016

1 2017 1 1
2 2018 1 1
3 2019 1 1
4

I-13


2016 6 2

2018 1 1

2014 7 9
39 9
2018
1 1 9 2016
9

(A)

(B)

9 9

I-14


10 28 10
28

2015 12 10
28

15
15
15

2016 4
15

15 2018 1
1 15 2016 12 31
15

16 17
4 15
27

40

I-15


16 17
17
2019 1 1
16 16

2017 1 1

12

2017 1 1

2.4

20%

I-16


12 31

I-17


I-18


(a)

(i)

(ii)

I-19


(iii)

(b)

(i)

(ii)

(iii)

(iv)

(v)

(vi) (a)

(vii) (a)(i)

(viii)

I-20


20 0-10%
5-15 0-10%
5 0-10%
3-15

I-21


458,210,000 2015
470,640,000 Columbus Holding GmbH WP Evenflo Group Holdings,
Inc.

I-22


I-23


39

39

I-24


(a)
(b)

I-25


(a)
(b)

I-26


I-27


39

39

I-28


(i) (ii)

I-29


I-30


(i) (ii)

I-31


I-32


(a)

(b)

(c)

(d)

I-33


34

I-34


29

I-35


I-36


3.

2016 12 31
811,662,000 2015 819,619,000 16

I-37


30

20

I-38


29

4.

(a)

(b)

(c)

I-39


2016 12 31

1,927,318 2,613,735 1,697,126 6,238,179

628,317 1,080,972 402,175 2,111,464

59,101
(1,906,728)
(50,199)
3,347
(55,166)
26

161,845

13,924 8,824 12,377 35,125

82,070 65,197 51,473 198,740

I-40


2015 12 31

2,041,009 2,831,584 2,078,538 6,951,131

567,780 1,052,235 430,197 2,050,212

94,881
(1,824,446)
(3,062)
7,246
(60,466)
(30)
(8)

264,327

10,744 6,319 10,385 27,448

84,268 56,527 54,645 195,440

(a)

2016 12 31

1,843,560 2,660,328 1,155,305 578,986 6,238,179

2015 12 31

2,146,621 2,804,809 1,347,719 651,982 6,951,131

I-41


(b)

2016 2015

624,385 720,042
1,026,222 1,010,355
732,321 710,699

2,382,928 2,441,096

2016 12 31 10%
738,414,000

10% 37(b)
2015 12 31 10%

I-42


5.

2016 2015

6,238,179 6,951,131

(a) 16,916 35,629

1,167 1,092
(b) 5,879 3,242
(c) 4,177 2,430
(d) 1,095 545
27,827 39,442
923 426
7,315
1,117 4,760

59,101 94,881

(a):

(b):

(c):

(d):

6.

2016 2015

3,347 7,246

I-43


7.

2016 2015

55,166 60,466

8.

2016 2015

4,126,715 4,900,919
848 805
175,001 173,842
21,643 19,370
2,096 2,228
308,814 312,479
92,618 83,200
8,403 8,384

1,330,304 1,260,457
57,879 35,780

1,994 2,078
16,507 12,714

1,406,684 1,311,029
988
(27,827) (39,442)
8,076
6,797
20,252 28,092
41,419 33,031
(644)
(923) (426)
22,991 2,465
(3,347) (7,246)

I-44


9.

383(1)(a)(b)(c) (f)
2

2016 2015

1,686 1,505

18,006 18,727
280 6,002
252 178

18,538 24,907

20,224 26,412

(A)

2016 2015

Iain Ferguson BRUCE 446 388

297 256
* 297 256

1,040 900

2016 2015

I-45


(B)

2016

3,528 3,528
Martin POS 6,324 6,324
3,166 60 3,226
3,867 11 3,878
Jan REZAB* 1,121 280 181 1,582

18,006 280 252 18,538

646 646

* Jan Rezab 2016 7 25

2015

7,496 7,496
Martin POS 3,959 2,573 106 6,638
3,163 1,938 60 5,161
4,109 1,491 12 5,612

18,727 6,002 178 24,907

605 605

2016 2015

I-46


10.

2015 9
2015

2016 2015

7,769 4,109
1,429
198 93

7,967 5,631

2016 2015

3,000,001 3,500,000 1
3,500,001 4,000,000 2

2 1

2015

11.

16.5%

5% 9.99%
34% 35%

I-47


10% 25.5%

30%

24.5%

19%

25%

GCPC2014 2016
15%

2016 2015

89,064 94,151
122 279
30 (139,581) (32,775)

(50,395) 61,655

I-48


2016 2015

161,845 264,327
47,539 67,443
18,102 40,547

(104,023)
(8,783) (15,869)
122 279
(3,835) (38,492)
483 7,747

(50,395) 61,655

12.

2016 2015

0.05 2015 0.05 55,759 55,430

55,759 55,430

13.

1,112,749,000 2015 1,104,079,000

I-49


2016 2015

207,390 197,434

2016 2015

1,112,749 1,104,079

5,144 4,936

1,117,893 1,109,015

I-50


14.

2016 12 31

2015 12 31
2016 1 1
562,441 840,035 10,790 307,033 69,077 36,240 1,825,616
(238,365) (470,448) (7,455) (190,425) (40,154) (946,847)

324,076 369,587 3,335 116,608 28,923 36,240 878,769

2016 1 1
324,076 369,587 3,335 116,608 28,923 36,240 878,769
19,936 68,700 1,343 50,220 13,292 110,984 264,475
(22,956) (31,111) (3) (3,033) (1,164) (477) (58,744)
(25,372) (83,500) (1,100) (57,686) (7,343) (175,001)
13,449 40,396 12,542 (66,387)
(839) (5,958) (6,797)
(14,181) (20,536) (394) (5,974) (735) (2,688) (44,508)

2016 12 31
294,113 337,578 3,181 112,677 32,973 77,672 858,194
2016 12 31
540,890 812,824 11,209 339,032 78,155 77,672 1,859,782
(246,777) (475,246) (8,028) (226,355) (45,182) (1,001,588)

294,113 337,578 3,181 112,677 32,973 77,672 858,194

I-51


2015 12 31

2014 12 31
2015 1 1
588,205 778,800 11,564 283,486 65,442 46,060 1,773,557
(225,595) (436,541) (6,407) (147,656) (36,405) (852,604)

362,610 342,259 5,157 135,830 29,037 46,060 920,953

2015 1 1
362,610 342,259 5,157 135,830 29,037 46,060 920,953
938 77,008 263 41,393 9,136 55,105 183,843
51 51
(138) (5,552) (58) (1,155) (126) (6,438) (13,467)
(26,892) (79,564) (1,915) (60,727) (4,744) (173,842)
1,996 47,632 116 7,537 (57,281)
(14,438) (12,196) (228) (6,321) (4,380) (1,207) (38,770)

2015 12 31
324,076 369,587 3,335 116,608 28,923 36,240 878,769
2015 12 31
562,441 840,035 10,790 307,033 69,077 36,240 1,825,616
(238,365) (470,448) (7,455) (190,425) (40,154) (946,847)

324,076 369,587 3,335 116,608 28,923 36,240 878,769

15.

2016 2015

59,608 65,449
(2,096) (2,228)
(3,617) (3,613)

53,895 59,608

I-52


16.

2015 1 1 837,717
5,692
(23,790)

2015 12 31 2016 1 1 819,619

(7,957)

2016 12 31 811,662

2016 2015

13,968 14,928
Evenflo 610,938 610,675
Columbus 181,846 188,324
NICAM 4,910 5,692

811,662 819,619

2016 12 31
14.0%2015 14.0%

EVENFLO

Evenflo

2016 12 31 10.0%2015
10.0%

I-53


COLUMBUS

Columbus

2016 12 31 10.5%2015
11.5%

NICAM

NICAM

2016 12 31 11.5%2015
11.5%

I-54


17.

2016 12 31

2015 12 31
2016 1 1
510,837 30,238 6,131 143,344 54,654 745,204
(24,879) (14,026) (2,350) (13,663) (8,030) (62,948)

485,958 16,212 3,781 129,681 46,624 682,256

2016 1 1
485,958 16,212 3,781 129,681 46,624 682,256
1,175 7,847 5,443 14,465
(264) (264)
(696) (5,291) (1,180) (9,036) (5,440) (21,643)
(14,998) (527) (142) (1,913) (1,368) (18,948)
2016 12 31
471,439 17,977 2,459 118,732 45,259 655,866

2016 12 31
497,014 36,791 5,902 140,871 58,328 738,906
(25,575) (18,814) (3,443) (22,139) (13,069) (83,040)

471,439 17,977 2,459 118,732 45,259 655,866

I-55


2015 12 31

2014 12 31
2015 1 1
545,644 19,911 6,842 125,579 57,465 755,441
(23,922) (9,588) (1,254) (5,054) (3,714) (43,532)

521,722 10,323 5,588 120,525 53,751 711,909

2015 1 1
521,722 10,323 5,588 120,525 53,751 711,909
3,981 9,884 1,938 15,803
25,581 25,581
(1,029) (3,374) (1,242) (9,036) (4,689) (19,370)
(38,716) (621) (565) (7,389) (4,376) (51,667)

2015 12 31
485,958 16,212 3,781 129,681 46,624 682,256
2015 12 31
510,837 30,238 6,131 143,344 54,654 745,204
(24,879) (14,026) (2,350) (13,663) (8,030) (62,948)

485,958 16,212 3,781 129,681 46,624 682,256

18.

5,348,000
2015 3,637,000 1 2,497,000 2015

I-56


19.

2016 2015

309,450 355,458
55,664 108,014
734,732 781,284

1,099,846 1,244,756

20.

2016 2015

646,027 699,039
7,373 2,507
653,400 701,546
(8,960) (5,947)

644,440 695,599

2016 2015

3 597,198 647,127
3 6 31,460 24,243
6 1 4,686 21,204
1 3,723 518

637,067 693,092

I-57


2016 2015

5,947 7,866
8,076
(644)
(4,606) (749)
(457) (526)

8,960 5,947

8,960,000
2015 5,947,000 12,847,000 2015
5,947,000

2016 2015

518,451 560,959
1 92,685 90,848
1 2 9,574 10,440
2 3 7,395 17,139
3 1 8,962 13,706

637,067 693,092

I-58


21.

2016 2015

90,026 50,034
97,355 93,595

187,381 143,629

22.

2016 2015

310,347

23.

2016 2015

758,153 705,291
2,726
25,367 27,199
783,520 735,216

2,726

25,367
27,199

758,153 705,291

467,167 524,956
259,256 146,971
21,988 32,268
6,209 2,241
28,900 28,780

783,520 735,216

I-59


1
3

24.

2016 2015

421

25.

2016 2015

3 798,734 806,951
3 12 110,322 128,378
12 13,300 3,466
23 1,740 897
3 2,368 1,513

926,464 941,205

60 90

I-60


26.

2016 2015

92,021 84,574
94,284 76,441
371,620 302,914

557,925 463,929

27.

2015 1 1 104,280
33,031

(26,007)
4,781
2015 12 31 2016 1 1 116,085
41,419
(30,517)
649

2016 12 31 127,636
63,928

63,708

2016 12 31 15,466,000

2016 12 31 112,170,000

I-61


28.

2016 12 31 2015 12 31

(a) 2017 189,782

(b) 2017 48,862 2016 29,959
(b) 2017 38,770 2016 660,211
(c) 2017 822
2016 895
2016 635

278,236 691,700

2018 2017
(b) 2021 948,040 2021 1,002,805
(c) 2021 2,481 2021 3,113

950,521 1,005,918

1,228,757 1,697,618

(a) 208,217,000 189,782,000

(b)

(i)

(ii) Columbus Holding GmbH Cybex GmbH

(iii) GCPC

(c)

I-62


(d) 1.25% 6%2015 1.02% 6%

2016 2015

278,236 691,700
225,832 49,413
572,646 651,930
152,043 304,575

1,228,757 1,697,618

29.

(1) ERA

Evenflo ERA
ERA 2002 8 31 2002 7 31
ERA

ERA

60% 65% 35% 40%

2016 12 31

I-63


2016 2015

(%) 3.75% 3.95%

100,836,000
95% 5,001,000 9.91

% %

2016
0.5 (4,252) 0.5 4,609

2015
0.5 (4,587) 0.5 4,984

2016 2015

256 116
256 116

1,420 1,605

I-64


2016 2015

1 1 (110,054) (118,859)
(4,182) (4,124)
7,464 9,209
985 3,635
(50) 85

12 31 (105,837) (110,054)

2016

2016 2016
11 1231

(110,054) (4,182) (4,182) 7,464 1,629 (1,529) 885 985 (50) (105,837)
104,140 (1,420) 3,926 2,506 (7,464) 1,606 1,606 48 100,836

(5,914) (1,420) (256) (1,676) 1,606 1,629 (1,529) 885 2,591 (2) (5,001)

2015

2015 2015
11 1231

(118,859) (4,124) (4,124) 9,209 (171) 3,008 798 3,635 85 (110,054)

116,230 (1,605) 4,008 2,403 (9,209) (5,201) (5,201) (83) 104,140

(2,629) (1,605) (116) (1,721) (5,201) (171) 3,008 798 (1,566) 2 (5,914)

I-65


2016 2015

59,862 67,037
36,546 32,693
4,428 4,410

9.91

(2)

2016

2016 2015

(%) 3.65 3.8

(%) 7.0 7.3
(%) 5.0 5.0

% %

2016
0.5 (318) 0.5 349
1.0 264 1.0 (310)

2015
0.5 (357) 0.5 388
1.0 256 1.0 (318)

I-66


2016 2015

318 357
318 357
318 357

2016 2015

1 1 (8,767) (10,551)
(318) (357)
652 1,891
334 240
(5) 10

12 31 (8,104) (8,767)

2016

2016 2016
1 1 12 31

(8,767) (318) (318) 334 116 303 233 652 (5) (8,104)
(8,767) (318) (318) 334 116 303 233 652 (5) (8,104)

I-67


2015

2015 2015
1 1 12 31

(10,551) (357) (357) 240 209 721 961 1,891 10 (8,767)

(10,551) (357) (357) 240 209 721 961 1,891 10 (8,767)

30.

201511 2,224 5,309 1,253 35,940 5,415 1,901 1,481 217 808 54,548

11 1,382 4,336 862 8,521 1,325 1,233 283 14,550 (1,481) 612 (78) 31,545
(619) (457) (106) (449) (367) (160) (4) (48) (49) (2,259)

20151231
201611 2,987 9,188 2,009 44,012 6,373 2,974 279 14,502 829 681 83,834

11 316 4,949 7,103 6,600 59,496 722 (283) 34,782 1,020 4,745 15,930 5,173 140,553
1,102 1,102
(116) (698) (128) (578) (272) (201) 4 (1,689) (46) (2) (11) (17) (3,754)

20161231 3,187 13,439 8,984 50,034 65,597 3,495 47,595 974 6,674 15,919 5,837 221,735

2015 15,826,000
193,437,000 2015

I-68


2015 1 1 (19,094) (8,039) (1,016) (760) (225,203) (254,112)

(6,267) (6,267)

11 7,158 (1,386) (6,380) (2,690) (62) (120) 4,709 1,229

1,114 746 123 40 34 9 15,199 17,265

2015 12 31
2016 1 1 (17,980) (135) (2,279) (7,100) (2,656) (62) (111) (211,562) (241,885)

11 137 (171) (4,159) 62 120 3,039 (972)

1,157 (2) 95 (39) 98 (9) 4,803 6,103

2016 12 31 (16,823) (2,355) (11,298) (2,558) (203,720) (236,754)

10%
2008 1 1 2007 12 31

2008 1 1
10%

GCPCPCPC GCPN GBHK

2016 2016 GBHK 2016 12 31

2016 12 31

2016 12 31
921,959,000
2015 763,838,000

I-69


2016 2015

130,880 43,092
(145,899) (201,141)

2016 2015

68,591 248,161
1,551
1,334
14,639
10,932
2,407
3,279 2,416

74,754 278,555

31.

8,893,000 2015 6,578,000

CBDK 3,582,000 2015 3,999,000

I-70


32.

2016 2015
12 31 12 31

1,115,129,000 2015 1,108,598,000 11,151 11,086

2015 1 1 1,100,972 11,010 1,183,406 1,194,416

(a)) 4,539 45 15,479 15,524
3,087 31 9,193 9,224
2014
2015 12 31
2016 1 1 1,108,598 11,086 1,208,078 1,219,164
(b)) 6,531 65 19,447 19,512
(55,679) (55,679)

2016 12 31 1,115,129 11,151 1,171,846 1,182,997

(a) 2014 1 27 Columbus Holding GmbH

70,711,539 751,070,000 38,513,000 409,070,000
100,000,000 32,198,539 342,000,000
2014 1 30 95,460,700 2015 8 31
3.42 4,539,300 4,539,300
15,524,000

(b) 6,531,000 2.12 33

6,531,000 13,846,000 5,666,000

I-71


33

33.

2010 11 5

2010 11
5 10% 12

1%

12
0.1%
5

30 1

I-72


(i)
(ii) (iii)

2015 1 1 3.148 75,857

3.750 25,850
3.488 (10,691)
2.120 (3,087)

2015 12 31 2016 1 1 3.320 87,929

3.870 5,000
3.592 (11,438)
2.120 (6,531)

2016 12 31 74,960

4.42 2015 3.26

I-73


2016

218 2.12 2014 1 3 2018 1 2

1,928 2.12 2015 1 3 2018 1 2
2,671 2.12 2016 1 3 2018 1 2
6,933 2.12 2017 1 3 2018 1 2
11,627 3.58 2017 9 29 2024 9 28
12,747 3.58 2018 9 29 2024 9 28
11,626 3.58 2019 9 29 2024 9 28
7,383 3.75 2018 10 7 2025 10 6
7,383 3.75 2019 10 7 2025 10 6
7,384 3.75 2020 10 7 2025 10 6
1,667 3.87 2017 8 30 2023 8 29
3,333 3.87 2018 8 30 2023 8 29

74,960

2015

384 2.12 2014 1 3 2018 1 2

4,020 2.12 2015 1 3 2018 1 2
7,060 2.12 2016 1 3 2018 1 2
7,214 2.12 2017 1 3 2018 1 2
11,160 3.58 2017 9 29 2024 9 28
19,080 3.58 2018 9 29 2024 9 28
13,160 3.58 2019 9 29 2024 9 28
8,617 3.75 2018 10 7 2025 10 6
8,617 3.75 2019 10 7 2025 10 6
8,617 3.75 2020 10 7 2025 10 6

87,929

2016 12 31 16,507,000 2015

12,714,000

I-74


2012 2014 2015 2016

13 9 29 10 7 8 30

(%) 2.00 1.61 1.28 1.79

2.12 3.40 3.75 3.87
(%) 52.00 38.40 37.78 35.55
(%) 1.11 2.05 1.60 0.82
6 10 10 7
2.12 3.58 3.68 3.87

6,531,000 6,531,000 65,310

19,447,000 32

74,959,500
74,959,500
749,595 255,600,000

74,911,500
6.72%

34.

I-75


32(a) Columbus Holding GmbH

2014 1 30 95,460,700
18
18 4,539,300

2015 8 31 4,539,300

(i)

10% 50%

(ii)

(iii)

10%
50%

25%

I-76


2016 12 31

(i) 2001 GCPC

GCPC GCPC
108,281,000

(ii) 2007 Geoby Electric Vehicle Co., Ltd.GPCL

1,362,000

(iii) 2010 6 PCPC

PCPC 2008 11 5
GPCL PCPC
GPCL
PCPC
11,357,000 2008

(iv) 2010 287,936,000

GCCLShanghai Goodbaby Fashion Co., Ltd.SHFSShanghai
Online Service Co., Ltd.SGOLRicky Bright LimitedRCBLMothercare
Goodbaby China Retail LimitedMGCR Mothercare-Goodbaby Retailing Co.,
Ltd.MGRL G-Baby Holdings LimitedGBHL
35,699,000

35.

2016 2015

75,826 37,523
69,535 68,872

145,361 106,395

I-77


36.

35

(A)

2016 2015

3,334 5,665

(B)

2016 2015

4,000 5,488

760
1%
1.5

I-78


37.

(A)

Goodbaby Bairuikang Hygienic Products First Shanghai Hygienic Products Limited

Co., Ltd.BRKH Sure Growth Investments Limited
50/50

Goodbaby Group Co., Ltd.GGCL

Goodbaby China Holdings LimitedCAGB

Goodbaby China Commercial CAGB

Co., Ltd.GCCL

Shanghai Goodbaby Child Products Co., Ltd. CAGB

SGCP

Goodbaby Group Pingxiang Co., Ltd. GGCL

GGPX

Goodbaby (China) Retail & Service Company CAGB

GRCN

I-79


(B)

2016 2015

(a)
CAGB # 778,977 870,245
(b)
GCCL# 44 306
(c)
GGPX# 11,689 12,161
GGCL# 799 870

12,488 13,031

(d)
GCCL# 679 926
SGCP# 36

679 962

(d)
BRKH# 170 145

(a)

(b)

(c)

(d)

# A

I-80


(C)

2016 2015

GRCN 284,368 303,758

SGCP 27

284,395 303,758

120

(D)

2016 2015

30,205 41,035
6,739 6,062
689 593

37,633 47,690

I-81


38.

2016 2015 2016 2015

421 421

5,348 3,637 5,348 3,637

310,347 310,347

5,348 314,405 5,348 314,405

8,893 6,578 8,893 6,578

1,228,757 1,697,618 1,228,757 1,697,618

1,237,650 1,704,196 1,237,650 1,704,196

I-82


2016 12 31

2016 2015 12 31

2016
2015 5%
1.49% 4.00%
2015 19 19

2016
12 31

5,348 5,348

I-83


2015
12 31

421 421
3,637 3,637
310,347 310,347

314,405 421 313,984

2016 2015

11 313,984 206,389
1,940 (5,849)
2,681,062 1,240,449
(2,985,063) (1,109,105)
(6,575) (17,900)

12 31 5,348 313,984

2016 12 31

2015 2016 12 31

I-84


2016
12 31

8,893 8,893
1,228,757 1,228,757

1,237,650 1,228,757 8,893

2015
12 31

6,578 6,578
1,697,618 1,697,618

1,704,196 1,697,618 6,578

2016 2015

11 6,578
2,692 (13,164)
21,943
(377) (2,201)

12 31 8,893 6,578

I-85


39.

2016 12 31

644,440 644,440

21 97,355 97,355
284,395 284,395
18 5,348 5,348
25,367 25,367
758,153 758,153

5,348 1,809,710 1,815,058

2015 12 31

695,599 695,599

21 93,595 93,595
303,758 303,758
310,347 310,347
421 421
18 3,637 3,637
27,199 27,199
2,726 2,726
705,921 705,921

4,058 310,347 1,828,798 2,143,203

I-86


2016 12 31

26 92,021
926,464
1,228,757
31 8,893

2,256,135

2015 12 31

26 84,574
941,205
1,697,618
31 6,578

2,729,975

40.

I-87


28

2016 12 31 +5%/-5% (2,758)/2,758

2015 12 31 +5%/-5% (3,023)/3,023

5%

24

I-88


2016 12 31
5% 9,933
-5% (9,933)
5% 717
-5% (717)

2015 12 31
5% 4,514
-5% (4,514)
5% 1
-5% (1)

8%2015 23%

I-89


2016 12 31

3 3 12 15

189,782 94,423 20,848 1,006,655 1,311,708

798,734 127,730 926,464
8,893 8,893
92,021 92,021

1,080,537 222,153 20,848 1,015,548 2,339,086

2015 12 31

3 3 12 15

688,105 31,821 1,089,538 1,809,464

227,891 713,314 941,205
6,578 6,578
84,574 84,574

312,465 1,401,419 31,821 1,096,116 2,841,821

I-90


2016 2015

926,464 941,205
557,925 463,929
1,228,757 1,697,618
(758,153) (705,291)

1,954,993 2,397,461

2,440,280 2,365,258

4,395,273 4,762,719

44% 50%

41.

I-91


42.

2016 2015

408,409 8,805
1,562 1,562

409,971 10,367

303 393
681,340 1,165,361
2,800 2,769

684,443 1,168,523

8,914 2,490
72
90
8 8
329 89

9,413 2,587

675,030 1,165,936

1,085,001 1,176,303

1,085,001 1,176,303

11,151 11,085
1,073,850 1,165,218

1,085,001 1,176,303

I-92


2014 12 31
2015 1 1 1,183,406 15,524 20,873 (52,057) 1,167,746
(21,710) (21,710)
15,479 (15,524) (45)
9,193 (2,680) 6,513
12,714 12,714

2015 12 31
2016 1 1 1,208,078 30,907 (73,767) 1,165,218
(65,977) (65,977)
(55,679) (55,679)
19,447 (5,666) 13,781
16,507 16,507

2016 12 31 1,171,846 41,748 (139,744) 1,073,850

43.

2017 3 28

3.

I-93


6,115,592 6,951,131 6,238,179 3,214,894 3,295,589

(4,588,057) (4,900,919) (4,126,715) (2,140,406) (2,100,534)

1,527,535 2,050,212 2,111,464 1,074,488 1,195,055

97,147 94,881 59,101 16,494 10,356
(777,464) (1,030,382) (982,468) (458,671) (530,092)
(699,180) (794,064) (924,260) (460,441) (481,608)
(3,234) (3,062) (50,199) (2,725) (14,285)
(48,110) (60,466) (55,166) (25,997) (29,011)
8,606 7,246 3,347 2,216 1,794
(31) (30) 26 25
(8)

105,269 264,327 161,845 145,389 152,209

(47,545) (61,655) 50,395 (35,281) (26,286)

57,724 202,672 212,240 110,108 125,923

57,475 197,434 207,390 107,140 124,704

249 5,238 4,850 2,968 1,219

57,724 202,672 212,240 110,108 125,923

57,475 197,434 207,390 107,140 124,704

249 5,238 4,850 2,968 1,219

0.05 0.18 0.19 0.10 0.11

0.05 0.18 0.19 0.10 0.11

I-94


57,724 202,672 212,240 110,108 125,923

(24,181)

7,840
2,451

(13,890)

(48,742) (129,390) (113,144) (19,638) 92,617

(48,742) (129,390) (113,144) (19,638) 78,727

(6,511) 325 4,345 (2,893) 5,199

(6,511) 325 4,345 (2,893) 5,199

I-95


(55,253) (129,065) (108,799) (22,531) 83,926

2,471 73,607 103,441 87,577 209,849

2,326 69,340 100,348 84,935 207,652

145 4,267 3,093 2,642 2,197

2,471 73,607 103,441 87,577 209,849

I-96


920,953 878,769 858,194 883,491

65,449 59,608 53,895 54,425
837,717 819,619 811,662 834,088
711,909 682,256 655,866 689,404
927 844 814 840
20,249 43,092 130,880 129,979
3,637 7,845 22,150

2,557,204 2,487,825 2,519,156 2,614,377

1,535,271 1,244,756 1,099,846 1,255,482

973,309 695,599 644,440 737,801
192,751 143,629 187,381 250,058
379,152 303,758 284,395 456,034
206,389 310,347 39,603
434,661 705,291 758,153 728,592
50,723 2,726
165,807 27,199 25,367 117,429
26,797 421

3,964,860 3,433,726 2,999,582 3,584,999

1,131,336 941,205 926,464 1,167,261

433,370 463,929 557,925 587,384

1,496,078 691,700 278,236 727,301
25,180 68,205 28,307 45,433
21,088 37,353 63,928 32,197
24,181
310 465 388 390
8 8 8 8

3,107,370 2,202,865 1,855,256 2,584,155

857,490 1,230,861 1,144,326 1,000,844

3,414,694 3,718,686 3,663,482 3,615,221

I-97


762,118 1,005,918 950,521 728,917

83,192 78,732 63,708 61,197
12,870 14,216 12,717 8,604
9,041 10,577 12,475 13,632
219,813 201,141 145,899 154,936

1,087,034 1,310,584 1,185,320 967,286

2,327,660 2,408,102 2,478,162 2,647,935

11,010 11,086 11,151 11,196

2,285,894 2,354,172 2,429,129 2,598,381
2,296,904 2,365,258 2,440,280 2,609,577

30,756 42,844 37,882 38,358

2,327,660 2,408,102 2,478,162 2,647,935

I-98


4.

1,535,316 1,535,316

a 302,380 302,380
138,059 138,059
115,638 115,638
a 287,671 287,671
b 625 625

844,373 844,373

a 689,069 689,069
b 1,874 1,874

690,943 690,943

1,535,316 1,535,316

(a)

(i)

(ii)

(iii) 102,302,000

(b)

I-99


5.

Oasis Dragon Limited
360.0

6.

7.

6,238.2
10.3% OEM

24.7% 2.9%

BOOM

I-100


BOOM

I-101
 A

IIa-4 IIa-72 Oasis Dragon LimitedOasis Dragon

Oasis Dragon Oasis
Dragon

Oasis Dragon
Oasis Dragon

IIa-4 IIa-72

Oasis Dragon

2.1 2.2

200

IIa-1
 A

2.1 2.2

2.1 2.2
Oasis Dragon
Oasis Dragon
Oasis Dragon

Oasis Dragon

2.1 2.2
2410

2.1
2.2

IIa-2
 A

12 Oasis Dragon

Oasis Dragon

Oasis Dragon

IIa-3
 A

Oasis Dragon

6 1,678,738 1,854,631 1,937,395 920,669 1,205,911

(966,981) (1,064,686) (1,121,391) (527,565) (687,590)

711,757 789,945 816,004 393,104 518,321

6 10,624 9,599 7,432 2,125 3,247
(540,821) (579,167) (593,030) (293,888) (343,622)
(52,305) (69,040) (75,917) (45,536) (31,851)
(5,229) (3,883) (4,585) (1,604) (1,408)
7 (14,931) (11,614) (13,646) (9,213)

8 109,095 135,840 136,258 44,988 144,687

11 (28,410) (34,246) (35,459) (12,096) (37,177)

80,685 101,594 100,799 32,892 107,510

80,390 100,419 100,624 32,719 106,663

295 1,175 175 173 847

80,685 101,594 100,799 32,892 107,510

13

IIa-4
 A

14 44,564 39,464 44,978 39,049

1 1 1 1
15 942 747 454 1,068
23 6,726 4,554 14,117 16,509

52,233 44,766 59,550 56,627

16 261,934 265,562 285,218 305,350

17 130,481 156,856 201,846 270,721
18 51,389 55,942 44,151 44,097
29 314,070 400,511 17,102 209,093
19 20,707 62,104 19,375 56,533

778,581 940,975 567,692 885,794

20 86,575 92,345 109,088 108,720

21 96,517 89,985 160,101 211,144
29 307,101 262,609 254,999 414,529
22 115,000 110,000
623 363 28,867 39,405

605,816 555,302 553,055 773,798

172,765 385,673 14,637 111,996

224,998 430,439 74,187 168,623

22 49,000 150,000
23 1,423 1,430 1,462

50,423 151,430 1,462

174,575 279,009 72,725 168,623

24
25 163,979 264,398 57,938 152,990

10,596 14,611 14,787 15,633

174,575 279,009 72,725 168,623

IIa-5
 A

Oasis Dragon


1,363 82,226 83,589 83,589
80,390 80,390 295 80,685
62 (62)
500 500
9,801 9,801

1,425 162,554 163,979 10,596 174,575

100,419 100,419 1,175 101,594
292 (292)
(500) (500)
3,340 3,340

1,717 262,681 264,398 14,611 279,009

100,624 100,624 175 100,799
7,084 (7,084)
(307,084) (307,084) (307,084)
1 1

8,801 49,137 57,938 14,787 72,725

8,801 49,137 57,938 14,787 72,725

106,664 106,664 846 107,510
10,896 (10,896)
(10,000) (10,000) (10,000)
(1,612) (1,612) (1,612)

19,697 133,293 152,990 15,633 168,623

1,717 262,681 264,398 14,611 279,009

32,719 32,719 173 32,892
26 (26)

1,743 295,374 297,117 14,784 311,901

*

163,979,000 264,398,000 57,938,000 297,117,000
152,990,000

IIa-6
 A

109,095 135,840 136,258 44,988 144,687

7 14,931 11,614 13,646 9,213

6 (102) (34) (45) (14) (49)

8 22,830 23,699 24,596 12,433 12,047
8 234 280 293 146 157


(63) 24

13,214 (563) 1,280 (1,032) 423

482 (560)

(53,875) (3,065) (20,936) (22,301) (20,555)

(23,236) (25,815) (44,990) (38,302) (68,875)

(24,395) (4,553) 11,791 1,957 54

33,214 5,770 16,743 12,830 (368)

6,177 (6,532) 70,116 33,548 49,581

(5,061) (44,492) (7,610) 83,383 159,531

93,445 91,613 201,142 136,849 276,633

102 34 45 14 49
(29,148) (32,327) (16,486) (18,518) (29,031)

64,339 59,320 184,701 118,345 247,651

IIa-7
 A

63 208 37

(32,695) (18,623) (30,318) (13,848) (6,155)

(673) (85) (771)
26 253
(33,727) (86,441) (180,000) (133,708) (203,604)

(66,779) (105,149) (210,110) (147,566) (210,493)

325,000 211,000 30,000 30,000

(340,600) (115,000) (110,000)
75,895
(500)
(14,931) (11,614) (13,215) (9,213)
9,801 3,340

(20,730) 87,726 (17,320) 20,787

(23,110) 41,397 (42,729) (8,424) 37,158

43,817 20,707 62,104 62,104 19,375

20,707 62,104 19,375 53,680 56,533

IIa-8
 A

OASIS DRAGON

IIa-9
 A

I.

1.

Oasis Dragon Limited

Oasis Dragon Vistra Corporate
Services Centre, Ground Floor NPF Buidling, Beach Road, Apia, Samoa

Oasis Dragon Oasis Dragon

Oasis Dragon

Oasis Dragon

Oasis Dragon

GCCL Oasis Dragon GCCL
Oasis Dragon
Oasis Dragon

GCCL
GCCL GCCL

Oasis Dragon

Oasis Dragon

40,000,000 100%
(b)

10,000,000 100%
SHFS(b)

IIa-10
 A

Oasis Dragon

Goodbaby E-family Co., Ltd. 9,200,000 86.96%

GBEF(b)
6,000,000 51%
GCSQ(b)
10,000,000 51%
GCFY(b)
10,000,000 51%
GCQD(b)
3,000,000 51%
QMCP(c)
10,000,000 80%
NTFS(a)
1 100%
(d)

(a)

(b)

(c)

(d)

2.1

Oasis Dragon Oasis Dragon Oasis

Dragon

Oasis Dragon

IIa-11
 A

Oasis Dragon
Oasis Dragon
Oasis Dragon

Oasis Dragon Oasis Dragon

2.2

Oasis Dragon

2.3

Oasis Dragon

2 2
4 9
4 2
9 2
7 1
12 1
10 4
28

IIa-12
 A

15 2
15 15 2
16 3
40 2
2
22
5

1

2

3

4

5
12

Oasis Dragon
Oasis Dragon
Oasis Dragon

Oasis Dragon

9
39 9
Oasis Dragon
Group 9 Oasis
Dragon Group 9
Oasis Dragon Group
9

(a)

Oasis Dragon Group 9

Oasis Dragon Group
Oasis

IIa-13
 A

Dragon Group Oasis Dragon Group

(b)

9 9

Oasis
Dragon Group
Oasis Dragon Group
9

10 28

15 15

15
15

Oasis Dragon
15 Oasis Dragon
15 Oasis Dragon
15

IIa-14
 A

16

16 17
4 15
27
17

12

16 17
17

16 17

16
15

Oasis Dragon 16
16 Oasis Dragon 27

62,423,000 107,673,000 117,105,000 Oasis

Dragon

3.

Oasis Dragon Oasis Dragon

Oasis Dragon

IIa-15
 A

Oasis Dragon
Oasis Dragon

(a)

(b)

(c) Oasis Dragon

Oasis Dragon
5
Oasis Dragon

Oasis Dragon
Oasis Dragon
Oasis Dragon

Oasis Dragon

39
39

IIa-16
 A

Oasis Dragon

Oasis Dragon

Oasis Dragon
Oasis Dragon

Oasis Dragon

Oasis Dragon

Oasis Dragon

IIa-17
 A

Oasis Dragon

IIa-18
 A

Oasis Dragon

(a)

(i) Oasis Dragon

(ii) Oasis Dragon

(iii) Oasis Dragon Oasis Dragon

(b)

(i) Oasis Dragon

(ii)

(iii) Oasis Dragon

(iv)

(v) Oasis Dragon Oasis Dragon

(vi) (a)

(vii) (a)(i)

(viii) Oasis Dragon Oasis Dragon

IIa-19
 A

Oasis Dragon

9%-18%
18%-31.67%
9%-31.67%
20%-50%

IIa-20
 A

Oasis
Dragon
Oasis Dragon

Oasis Dragon

IIa-21
 A

Oasis Dragon

Oasis Dragon
(a)
Oasis Dragon (b)Oasis Dragon

Oasis Dragon

Oasis Dragon Oasis Dragon

Oasis Dragon

Oasis Dragon

Oasis Dragon

IIa-22
 A

Oasis Dragon

Oasis Dragon

Oasis Dragon

IIa-23
 A

Oasis Dragon

IIa-24
 A

Oasis
Dragon

IIa-25
 A

IIa-26
 A

Oasis Dragon

(a)
Oasis Dragon

(b)

(c)

(d)

(e)

Oasis Dragon

Oasis Dragon

IIa-27
 A

Oasis Dragon

4.

Oasis Dragon
Oasis Dragon

Oasis Dragon

IIa-28
 A

23

17

Oasis Dragon

16

5.

Oasis Dragon

(a)

(b)

(c) 0 4 5 8

Oasis Dragon

Oasis Dragon

IIa-29
 A

970,474 412,136 296,128 1,678,738

26,885 103,183 37,117 167,185

10,624
(48,554)
(5,229)
(14,931)

109,095

656,365 204,102 106,514 966,981

1,086,607 486,613 281,411 1,854,631

24,486 126,840 30,941 182,267

9,599
(40,529)
(3,883)
(11,614)

135,840

734,979 236,131 93,576 1,064,686

IIa-30
 A

1,057,786 578,670 300,939 1,937,395

25,957 150,052 11,912 187,921

7,432
(40,864)
(4,585)
(13,646)

136,258

714,078 286,669 120,644 1,121,391

630,802 376,446 198,663 1,205,911

26,237 106,170 27,556 159,963

3,247
(17,115)
(1,408)

144,687

422,344 184,973 80,273 687,590

IIa-31
 A

508,729 272,423 139,517 920,669

10,167 67,263 5,241 82,671

2,125
(28,991)
(1,604)
(9,213)

44,988

340,284 133,854 53,427 527,565

6.

Oasis Dragon

IIa-32
 A

1,678,738 1,854,631 1,937,395 920,669 1,205,911

(a)) 801 144 1,553 46 1,266

186 562
1,680 3,319 3,409 1,725 1,267
102 34 45 14 49
(b)) 7,660 5,767 1,489 66 504
44
1
381 104 374 274 161

10,624 9,599 7,432 2,125 3,247

(a)

(b)
Oasis Dragon

7.

14,931 11,614 13,646 9,213

IIa-33
 A

8.

Oasis Dragon

968,496 1,066,875 1,125,107 528,995 688,619

22,830 23,699 24,596 12,433 12,047
234 280 293 146 157
27,249 38,410 39,444 21,954 20,492
10,368 14,715 14,715

221,352 225,237 233,933 118,835 132,823

15,693 15,998 16,028 8,918 8,395

237,045 241,235 249,961 127,753 141,218

482 (560)
13,214 (563) 1,280 (1,032) 423
(63) 24
102 34 45 14 49

IIa-34
 A

9.

Oasis Dragon

Oasis Dragon

(a)

(b)

1,509 754 754

1,509 754 754

IIa-35
 A

1,509 1,509

1,509 1,509

IIa-36
 A

754 754

754 754

754 754

754 754

10.

8,895 6,867 7,764 4,381 3,838

85 118 180 88 92

8,980 6,985 7,944 4,469 3,930

IIa-37
 A

1,000,000 2 2 4 4
1,000,001
1,500,000 1 2 3 1 1
1,500,001
2,000,000 1 1
2,000,001
3,000,000 2 1 1

5 5 5 5 5

11.

Oasis Dragon Oasis Dragon

Oasis Dragon

Oasis Dragon

Oasis Dragon
25%

IIa-38
 A

Oasis Dragon

29,771 32,067 44,990 18,732 39,569

23 (1,361) 2,179 (9,531) (6,636) (2,392)

28,410 34,246 35,459 12,096 37,177

% % % % %

109,095 135,840 136,258 44,988 144,687

27,274 25.0 33,960 25.0 34,065 25.0 11,247 25.0 36,172 25.0
10%
Oasis Dragon
7 0.0 32 0.0
(167) (0.1) (30) (0.0) (161) (0.4) (36) (0.0)
1,323 1.0 967 2.2 868 0.6
1,136 1.0 446 0.3 69 0.0 43 0.1 173 0.1

Oasis Dragon
28,410 26.0 34,246 25.2 35,459 26.0 12,096 26.9 37,177 25.7

12.

Oasis Dragon

13.

IIa-39
 A

14.

2,609 1,576 15,239 65,178 84,602

(1,414) (833) (8,473) (39,209) (49,929)

1,195 743 6,766 25,969 34,673

186 2,512 3,557 26,466 32,721

(266) (635) (2,171) (19,758) (22,830)

1,115 2,620 8,152 32,677 44,564

2,795 4,088 18,796 75,309 100,988

(1,680) (1,468) (10,644) (42,632) (56,424)

1,115 2,620 8,152 32,677 44,564

IIa-40
 A

2,795 4,088 18,796 75,309 100,988
(1,680) (1,468) (10,644) (42,632) (56,424)

1,115 2,620 8,152 32,677 44,564

320 437 1,373 16,493 18,623
(24) (24)
(365) (980) (2,451) (19,903) (23,699)

1,070 2,077 7,050 29,267 39,464

3,115 4,525 20,145 79,570 107,355

(2,045) (2,448) (13,095) (50,303) (67,891)

1,070 2,077 7,050 29,267 39,464

IIa-41
 A

3,115 4,525 20,145 79,570 107,355
(2,045) (2,448) (13,095) (50,303) (67,891)

1,070 2,077 7,050 29,267 39,464

98 1,777 3,092 25,351 30,318
(26) (19) (163) (208)
(318) (934) (2,145) (21,199) (24,596)

850 2,894 7,978 33,256 44,978

3,213 6,035 23,216 94,963 127,427

(2,363) (3,141) (15,238) (61,707) (82,449)

850 2,894 7,978 33,256 44,978

IIa-42
 A

3,213 6,035 23,216 94,963 127,427
(2,363) (3,141) (15,238) (61,707) (82,449)

850 2,894 7,978 33,256 44,978

81 500 5,574 6,155
(3) (34) (37)
(15) (391) (1,515) (10,126) (12,047)

916 2,503 6,960 28,670 39,049

3,294 6,035 23,712 95,014 128,055

(2,378) (3,532) (16,752) (66,344) (89,006)

916 2,503 6,960 28,670 39,049

IIa-43
 A

15.

702 702
(199) (199)

503 503

503 503
673 673
(234) (234)

942 942

1,375 1,375
(433) (433)

942 942

IIa-44
 A

1,375 1,375
(433) (433)

942 942

942 942
85 85
(280) (280)

747 747

1,460 1,460
(713) (713)

747 747

IIa-45
 A

1,460 1,460
(713) (713)

747 747

747 747

(293) (293)

454 454

1,460 1,460
(1,006) (1,006)

454 454

IIa-46
 A

1,460 1,460
(1,006) (1,006)

454 454

454 454
771 771
(157) (157)

1,068 1,068

2,231 2,231
(1,163) (1,163)

1,068 1,068

16.

261,934 265,562 285,218 305,350

IIa-47
 A

17.

124,310 156,856 201,503 269,537

6,731 343 1,184

131,041 156,856 201,846 270,721

(560)

130,481 156,856 201,846 270,721

Oasis Dragon
Oasis Dragon

Oasis Dragon
Oasis Dragon

Oasis Dragon

3 111,774 147,436 195,143 259,051

3 6 8,533 5,660 5,415 5,072
6 1 2,285 2,731 938 5,359
1 1,718 1,029 7 55

124,310 156,856 201,503 269,537

IIa-48
 A

78 560
482
(560)

560

18.

19,589 26,920 20,890 24,310

9,756 5,631 2,890 2,695
11,340 15,821 14,919 15,732
9,587 6,584 4,742 571
1,117 986 710 789

51,389 55,942 44,151 44,097

IIa-49
 A

19.

20,707 62,104 19,375 56,533

Oasis Dragon

Oasis Dragon

20.

86,575 92,345 109,088 108,720

30 120

IIa-50
 A

Oasis Dragon

3 85,899 19,352 108,542 107,737

3 12 397 72,259 378 764
12 46 482 93 98
23 32 59 59
3 233 220 16 62

86,575 92,345 109,088 108,720

21.

41,721 26,823 35,621 44,617

21,472 20,764 45,971 74,113
18,403 25,987 57,758 54,963
14,395 14,885 17,200 19,815
526 1,526 3,551 17,636

96,517 89,985 160,101 211,144

IIa-51
 22.

(%) (%) (%) (%)

5.26-5.32 115,000 4.61 110,000

115,000 110,000

5.70 49,000 4.75-5.50 150,000

IIa-52
164,000 260,000

 A

115,000 110,000
150,000
49,000

164,000 260,000

23.

IIa-53
 A

1,534

(111)

1,423

1,430

32

1,462

(1,462)

IIa-54
 A

19 1,583 2,289 1,585 5,476

1,721 947 (1,418) 1,250

19 3,304 3,236 167 6,726

91 (142) (1,984) (137) (2,172)

110 3,162 1,252 30 4,554

(110) 321 9,264 88 9,563

3,483 10,516 118 14,117

105 2,405 (118) 2,392

3,588 12,921 16,509

IIa-55
 A

1,323 832

1,323 832

10%

Oasis Dragon 5% 10%

Oasis Dragon

Oasis Dragon
Oasis Dragon

500,000 2,370,000 31,804,000 82,732,000

24.

Oasis Dragon
1 Oasis Dragon GBC Oasis Dragon
GBC

25.

Oasis Dragon

IIa-56
 A

GCCL
GCCL GCCL GCCL

GCCL
GCHL SHFS Oasis Dragon
GCCL GCHL SHFS GCCL GCHL 10

Oasis Dragon
10%
50%
25%

26.

GCQD QMCP 66.7% QMCP

1,000,000

QMCP

1,253
26
317
1,995
(1,179)
(913)

1,499
(500)

1,000

IIa-57
 A

317,000
1,995,000 317,000
1,995,000

(1,000)
1,253

253

QMCP Oasis Dragon

24,979,000 Oasis Dragon 43,000

Oasis Dragon
1,678,738,000
79,431,000

27.

Oasis Dragon

Oasis Dragon

IIa-58
 A

Oasis Dragon

15,081 27,382 31,259 33,325

26,608 62,947 77,745 74,658
20,734 17,344 8,101 4,975

62,423 107,673 117,105 112,958

28.

27 Oasis Dragon Oasis Dragon

173

Oasis Dragon

IIa-59
 A

29.

Oasis Dragon Oasis Dragon

(a)

Oasis Dragon Oasis Dragon

GCPC

GCCL

CAGB

Mothercare-Goodbaby China
Retail LimitedMGRL

MAMA

(b)

Oasis Dragon

IIa-60
 A

(a))
GCPC 139 246 38 37 280

(b))
GCPC 644,128 700,539 666,251 351,865 431,695
7,936
2,134

654,198 700,539 666,251 351,865 431,695

(c))
GCPC 823 745 581 327 305

3,808
2,497 143 334 334 145
9,155 1,730 430 2,818

3,320 13,851 2,645 764 3,268

(c))
563
(d))
GCCL 75,895

(e))
GCCL 33,727 86,441 180,000 133,708 203,604

(a)

(b)

(c)

IIa-61
 A

(d)

(e)

(c)

Oasis Dragon

GCCL 314,070 399,948 17,102 209,093

563

314,070 400,511 17,102 209,093

GCPC 299,113 254,489 254,624 395,335

GCHL 17,124
4,937 4,440
3,051 413 375 520
3,267 1,550

307,101 262,609 254,999 414,529

GCPC 120

GCCL GCCL

IIa-62
 A

30.

130,481
18 31,800
314,070
20,707

497,058

21 75,045
86,575
115,000
307,101

583,721

IIa-63
 A

156,856
18 29,022
400,511
62,104

648,493

21 69,221
92,345
110,000
262,609

534,175

201,846
18 23,261
17,102
19,375

261,584

IIa-64
 A

21 114,130
109,088
254,999

478,217

270,721
18 19,787
209,093
56,533

556,134

21 137,031
108,720
414,529

660,280

IIa-65
 A

31.

Oasis Dragon

164,000 260,000

164,000 260,000

Oasis Dragon

IIa-66
 A

Oasis Dragon

Oasis Dragon

164,000 164,000

260,000 260,000

32.

Oasis Dragon
Oasis Dragon
Oasis Dragon

IIa-67
 A

Oasis Dragon

Oasis Dragon Oasis Dragon

22

Oasis Dragon

Oasis Dragon

50
(50)

50
(50)

50 (1,142)
(50) 1,142

50 (441)
(50) 441

IIa-68
 A

Oasis Dragon Oasis Dragon

Oasis Dragon

Oasis Dragon

Oasis Dragon Oasis Dragon

Oasis Dragon

Oasis Dragon

Oasis Dragon

IIa-69
 A

31,883 87,950 51,979 171,812

86,575
96,517
307,101

490,193 31,883 87,950 51,979 171,812

3,236 118,154 154,877 276,267

92,345
89,985
262,609

444,939 3,236 118,154 154,877 276,267

109,088
160,101
254,999

524,188

108,720
211,144
414,529

734,393

IIa-70
 A

Oasis Dragon

Oasis Dragon
Oasis Dragon
Oasis Dragon Oasis Dragon

Oasis Dragon
Oasis Dragon

86,575 92,345 109,088 108,720

96,517 89,985 160,101 211,144
164,000 260,000
307,101 262,609 254,999 414,529
20,707 62,104 19,375 56,533

633,486 642,835 504,813 677,860

163,979 264,398 57,938 152,990
797,465 907,223 562,751 830,850
79% 71% 90% 82%

33.

GCSQ GRCN GCSQ 51%

IIa-71
 A

34.

Oasis Dragon

IIa-72
 B

Oasis Dragon

A.

(i)
(ii)

(i)
(haohaizi.com) 6 (ii) 4
(iii) 183
(i) 986
(ii) 406 (iii)54

BOOM

gb

IIb-1
 B

B.

EBIT
EBIT

% % % % %

........................... 970,474 57.8 1,086,607 58.6 1,057,786 54.6 508,729 55.3 630,802 52.3
....................... 412,136 24.6 486,613 26.2 578,670 29.9 272,423 29.6 376,446 31.2
.............................. 296,128 17.6 281,411 15.2 300,939 15.5 139,517 15.1 198,663 16.5

.................................. 1,678,738 100.0 1,854,631 100.0 1,937,395 100.0 920,669 100.0 1,205,911 100.0

........................... 314,109 44.1 351,628 44.5 343,708 42.1 168,445 42.9 208,458 40.2
....................... 208,034 29.2 250,482 31.7 292,001 35.8 138,569 35.2 191,473 36.9
.............................. 189,614 26.7 187,835 23.8 180,295 22.1 86,090 21.9 118,390 22.9

.................................. 711,757 100.0 789,945 100.0 816,004 100.0 393,104 100.0 518,321 100.0

........................... 26,885 16.1 24,486 13.4 25,957 13.8 10,167 12.3 26,237 16.4
....................... 103,183 61.7 126,840 69.6 150,052 79.9 67,263 81.4 106,170 66.4
.............................. 37,117 22.2 30,941 17.0 11,912 6.3 5,241 6.3 27,556 17.2

EBIT(1) ...................... 167,185 100.0 182,267 100.0 187,921 100.0 82,671 100.0 159,963 100.0
(2) ........................... (43,159) (34,813) (38,017) (28,470) (15,276)

EBIT ................................ 124,026 147,454 149,904 54,201 144,687

(1)

(2)

IIb-2
 B

1,678.7
1,854.6 1,937.4 920.7
1,205.9

10.5% (i) 12.0%
(ii)
18.1%

4.5% (i) 18.9%

(ii) 6.9%

31.0%
(i) 24.0%
(ii)
38.2%
(iii)
42.4% 0-8+

711.8
789.9 816.0 393.1 518.3

IIb-3
 B

% % % % %

...................... 314,109 32.4 351,628 32.4 343,708 32.5 168,445 33.1 208,458 33.0
.................. 208,034 50.5 250,482 51.5 292,001 50.5 138,569 50.9 191,473 50.9
......................... 189,614 64.0 187,835 66.7 180,295 59.9 86,090 61.7 118,390 59.6

................................ 711,757 42.4 789,945 42.6 816,004 42.1 393,104 42.7 518,321 43.0

11.0%3.3% 31.9%

42.4%42.6% 42.1%
42.7% 43.0%

66.7%
59.9% 59.6%

EBIT

EBIT 124.0
147.5 149.9 54.2 144.7

IIb-4
 B

EBIT EBIT

EBIT EBIT EBIT EBIT EBIT
EBIT EBIT EBIT EBIT EBIT
% % % % %

.......................... 26,885 2.8 24,486 2.3 25,957 2.5 10,167 2.0 26,237 4.2
...................... 103,183 25.0 126,840 26.1 150,052 25.9 67,263 24.7 106,170 28.2
............................. 37,117 12.5 30,941 11.0 11,912 4.0 5,241 3.8 27,556 13.9

EBIT(1) ..................... 167,185 10.0 182,267 9.8 187,921 9.7 82,671 9.0 159,963 13.3
(2) .......................... (43,159) (2.6) (34,813) (1.9) (38,017) (2.0) (28,470) (3.1) (15,276) (1.3)

EBIT ............................... 124,026 7.4 147,454 8.0 149,904 7.7 54,201 5.9 144,687 12.0

(1)

(2)

EBIT
18.9% EBIT
EBIT
1.7% EBIT
EBIT
166.9% EBIT

EBIT 7.4%8.0% 7.7% EBIT
EBIT
EBIT

IIb-5
 B

12.0% EBIT
EBIT

10.6
9.6 7.4 2.1 3.2

9.6%
22.6%

52.8%

540.8
579.2 593.0 293.9 343.6

7.1%

2.4%

16.9%

32.2% 30.6%

IIb-6
 B

31.9%
28.5%

52.3
69.0 75.9 45.5 31.9

32.0%
10.0%

10.4 14.7

30.1%
14.7

5.2
3.9 4.6 1.6 1.4

14.9 11.6 13.6 9.2

80.7
101.6 100.8 32.9 107.5

25.9%
0.8%
226.9%

IIb-7
 B

172.8 385.7 14.6
112.0
1.3 1.7 1.0
1.1

174.6 279.0 72.7
168.6
79.4%70.9% 89.7%

261.9 265.6 285.2
305.4

130.5 156.9
201.8 270.7

314.1 400.5 17.1
209.1
GCCL
GCCL GCCL

307.1 262.6 255.0 414.5

14.5%

IIb-8
 B

62.6%

96.5 90.0
160.1 211.1
6.8%
14.9
77.9%
31.9%
(i) (ii)

86.6 92.3 109.1
108.7
6.7%
18.1%

115.0 110.0
4.6% 5.3%

GBC 1
GBC

IIb-9
 B

32.7 18.6
30.3 6.2

3,7683,9293,941 4,025

237.0 241.2
250.0 127.8 141.2

IIb-10
 B

IIb-11
 C

(I)

Oasis Dragon Limited

4.29 100%

(a)

(b)
A

(c)

IIc-1
 C

(II)








1 2 3 4 5 6

883,491 45,044 928,535

54,425 54,425
834,088 1 2,777,600 3,611,689
689,404 1,232 690,636
840 840
129,979 19,044 149,023
22,150 22,150

2,614,377 65,321 2,777,600 5,457,298

1,255,482 352,232 1,607,714

737,801 312,286 1,050,087
250,058 50,867 300,925
456,034 241,197 (456,034) 241,197
39,603 39,603
728,592 65,213 780,600 (1,084,432) (46,462) 443,511
117,429 117,429

3,584,999 1,021,795 780,600 (1,084,432) (456,034) (46,462) 3,800,466

(1,167,261) (125,412) (1,292,673)

(587,384) (243,562) (830,946)

(727,301) (727,301)
(45,433) (45,455) (90,888)
(32,197) (32,197)
(24,181) (24,181)
(478,174) 456,034 (22,140)
(390) (390)
(8) (8)

(2,584,155) (892,603) 456,034 (3,020,724)

IIc-2
 C

1 2 3 4 5 6

1,000,844 129,192 780,600 (1,084,432) (46,462) 779,742

3,615,221 194,513 780,600 1,693,168 (46,462) 6,237,040

(728,917) (780,600) (1,509,517)

(61,197) (61,197)
(8,604) (8,604)
(13,632) (13,632)
(154,936) (154,936)

(967,286) (780,600) (1,747,886)

2,647,935 194,513 1,693,168 (46,462) 4,489,154

IIc-3
 C

(III)

1.

2.
A 1.00 0.8669

3. 100,000,000 1.00
7.8060 780,600,000

4.

(a)

IIc-4
 C

(b)

360,000,000 1.00
7.8060 2,810,160,000 120,485,816
1.00 7.8060 940,512,000 536,100,000
36,000,000 (i) (ii)

(i)

(A)

30

(B)

30

(ii)

(A) 12,768,000 1.00

0.8669 14,728,000

30

(B)
30

IIc-5
 C

260,955,000


131,763,000

2,810,160
260,955
(117,035)

2,954,080

2,954,080
194,513
18,033

1 2,777,600

1 36

IIc-6
 C

5.

6.
46,462,000

7.

IIc-7


1.

2.

(a) (i) (ii) (iii)

3.38
3.46
3.77
3.53
3.81
3.24
3.28
3.83
4.17
4.12

(b)
3.19 4.24

III-1


3.

(i) (ii)

(i)

50,000,000,000 0.01 500,000,000.00

1,119,838,000 0.01 11,198,380.00

(ii)

50,000,000,000 0.01 500,000,000.00

1,119,838,000 11,198,380.00
536,100,000 5,361,000.00

1,655,938,000 16,559,380.00

III-2


70,130,500

173,000 2.12
1,630,500 2.12
2,033,500 2.12
3,263,500 2.12
10,926,666 3.58
11,626,666 3.58
10,926,668 3.58
6,683,333 3.75
6,683,333 3.75
6,683,334 3.75
1,666,666 3.87
3,333,334 3.87
1,500,000 3.88
1,500,000 3.88
1,500,000 3.88

70,130,500

48,000 101,760.00
1,129,000 2,393,480.00
1,293,000 2,741,160.00
2,003,000 4,246,360.00
130,000 275,600.00
106,000 224,720.00

9,983,080.00

III-3


4.

(a)

XV (a)
XV 7 8
(b) 352
(c)

(1)

(2)(3) 259,000,000 (L) 23.13%

Martin Pos (3) 39,033,498 (L) 3.48%

(1) L

(2) Credit Suisse Trust Limited

(b) 2 1,390,000
XV 1,390,000

III-4


(3) XV

1,390,000
Martin Pos 2,400,000
2,400,000
2,400,000
2,400,000
Jan Rezab 5,000,000
1,000,000
Iain Ferguson Bruce 800,000
800,000
800,000

XV (a)
XV 7 8
(b)
352 (c)

(b)

XV 2 3
336

III-5


(1)

PUD 259,000,000 (L) 23.13%

CAEL (2) 259,000,000 (L) 23.13%
Credit Suisse Trust Limited (2) 259,000,000 (L) 23.13%
Grappa Holdings Limited (2) 259,000,000 (L) 23.13%
(2) (3) 261,780,000 (L) 23.38%


FIL Limited 119,283,000 (L) 10.65%
80,835,000(L) 7.22%
Pioneer Asset Management S.A. 67,418,000(L) 6.02%
Pioneer Investments 78,170,000 (L) 6.98%
Management Limited

(1) L

(2) PUD CAEL 51.19% CAEL Grappa Holdings Limited

Grappa Holdings Limited Seletar Limited Serangoon
Limited Credit Suisse Trust Limited 50% Credit Suisse Trust
Limited Grappa Trust Grappa Trust
Grappa Trust

(3) XV 1,390,000
XV
1,390,000

III-6


(i) (ii) (iii) PUDCAELSGILROSL

SIML

XV 2 3

5%

5.

(i)

(ii)

(a)

2,000,000

(b)

30,000

(iii)
12

III-7


(iv)
12

1,750,000
Martin Pos 500,000
2,000,000
408,000
2,000,000
Jan Rezab 300,000
85,000
Iain Ferguson Bruce 60,000
40,000
40,000
30,000

Martin Pos

6.

7.

8.

III-8


9.

1 6

10.

11.

i. PUD
CAELSGILROSL SIML

ii. 4(a)

III-9


iii. Martin Pos 39,033,498 3.48%

Pos (6) PUD (6)
Martin Pos

iv. (1) (5)

v.

vi.

vii.

viii. 22 8

ix.

x.

xi.

xii.

xiii.

III-10


xiv.
(2)

xv. (1)(2)(3) (4)

22 8

xvi.

12.

(a) Harbour Place, 2nd Floor, 103 South Church Street, P.O. Box
472, George Town, Grand Cayman, KY1-1106, Cayman Islands
338 2 20 2001
PUD 25.90%CAEL 24.00%SGIL 22.25%ROSL
15.10%SIML 5.00%VLVL 4.28%WAWA 1.17%FTHL
1.15% COOP 1.15%

(b) PUD Tricor Services (BVI) Limited, P O Box 3340, Road Town,
Tortola, British Virgin Islands Chen
Huaixiao PUD (2)

(c) CAEL Tricor Services (BVI) Limited, P O Box 3340, Road Town,
Tortola, British Virgin IslandsCAEL Credit Suisse Trust
Limited Credit Suisse Trust Limited Grappa Trust

(d) SGIL Tricor Services (BVI) Limited, P O Box 3340, Road Town,
Tortola, British Virgin IslandsSGIL 44.44%
22.22% 16.67% 11.11%
5.56%

(e) ROSL Offshore Chambers, P.O. Box 217, Apia, Samoa

ROSL Credit Suisse Trust Limited Golden Phoenix Trust
Credit Suisse Trust Limited

III-11


(f) SIML Offshore Chambers, P.O. Box 217, Apia, Samoa

SIML

(g) Kobler Martin Pos Jan

Rezab 338 2 20 2001

(h)

(i) Cricket Square, Hutchins Drive, P. O. Box 2681, Grand

Cayman, KY1-1111, Cayman Island

(j) 338 2 20 2001

(k)
183 17M

(l) 1
46

(m)

13.

(i)

338 2 20
2001 (ii) http://www.gbinternational.com.hk)
(www.sfc.hk)

(a)

(b)

(c)

(d)

III-12


(e)

(f)

(g)

(h)

(i)
A

(j)
C

(k)

III-13


Goodbaby International Holdings Limited

1086

18 35

1.

(a) A

(b) 1(a)

EGM-1


1.

2.

3.

4.
48
183 17M

5.

6.

183
17M

Martin POS
Jan REZAB Iain
Ferguson BRUCE

EGM-2