TABLE OF CONTENTS
Page
PART I
ITEM 1.
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS ......................................................
5
ITEM 2.
OFFER STATISTICS AND EXPECTED TIMETABLE .........................................................................................
5
ITEM 3.
KEY INFORMATION ................................................................................................................................................
5
3A.
Selected Financial Data ...............................................................................................................................................
5
3B.
Capitalization And Indebtedness .................................................................................................................................
7
3C.
Reasons For The Offer And Use Of Proceeds ............................................................................................................
7
3D.
Risk Factors..................................................................................................................................................................
7
ITEM 4.
INFORMATION ON THE COMPANY ....................................................................................................................
19
4A.
History And Development Of The Company .............................................................................................................
19
4B.
Business Overview ......................................................................................................................................................
20
4C.
Organizational Structure ..............................................................................................................................................
29
4D.
Property, Plant And Equipment ...................................................................................................................................
29
ITEM 4A.
UNRESOLVED STAFF COMMENTS .....................................................................................................................
37
ITEM 5.
OPERATING AND FINANCIAL REVIEW AND PROSPECTS ...........................................................................
37
5A.
Operating Results ........................................................................................................................................................
37
5B.
Liquidity And Capital Resources ................................................................................................................................
48
5C.
Research And Development, Patents And Licenses, Etc............................................................................................
49
5D.
Trend Information ........................................................................................................................................................
50
5E.
Off-Balance Sheet Arrangements ................................................................................................................................
50
5F.
Tabular Disclosure Of Contractual Obligations ..........................................................................................................
50
5G.
Safe Harbor ..................................................................................................................................................................
50
ITEM 6.
DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES .............................................................................
50
6A.
Directors And Senior Management .............................................................................................................................
50
6B.
Compensation ..............................................................................................................................................................
52
6C.
Board Practices ............................................................................................................................................................
54
6D.
Employees ....................................................................................................................................................................
57
6E.
Share Ownership ..........................................................................................................................................................
58
ITEM 7.
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS ..........................................................
60
7A.
Major Shareholders ......................................................................................................................................................
60
7B.
Related Party Transactions ..........................................................................................................................................
61
7C.
Interests Of Experts And Counsel ...............................................................................................................................
61
ITEM 8.
FINANCIAL INFORMATION ..................................................................................................................................
61
8A.
Consolidated statements And Other Financial Information .......................................................................................
61
8B.
Significant Changes .....................................................................................................................................................
61
ITEM 9.
THE OFFER AND LISTING .....................................................................................................................................
62
9A.
Offer And Listing Details ............................................................................................................................................
62
9B.
Plan Of Distribution .....................................................................................................................................................
63
9C.
Markets .........................................................................................................................................................................
63
9D.
Selling Shareholders ....................................................................................................................................................
63
9E.
Dilution ........................................................................................................................................................................
63
9F.
Expenses Of The Issue.................................................................................................................................................
63
ITEM 10.
ADDITIONAL INFORMATION ...............................................................................................................................
63
10A.
Share Capital ................................................................................................................................................................
63
10B.
Memorandum of Incorporation ...................................................................................................................................
63
10C.
Material Contracts ........................................................................................................................................................
66
10D.
Exchange Controls .......................................................................................................................................................
67
10E.
Taxation .......................................................................................................................................................................
69
10F.
Dividends And Paying Agents ....................................................................................................................................
72
10G.
Statement By Experts ..................................................................................................................................................
72
10H.
Documents On Display ................................................................................................................................................
72
10I.
Subsidiary Information ................................................................................................................................................
73
ITEM 11.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK .........................................
73
ITEM 12.
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES .........................................................
73
12A.
Debt Securities .............................................................................................................................................................
73
12B.
Warrants and Rights.....................................................................................................................................................
74
12C.
Other Securities ............................................................................................................................................................
74
12D
American Depositary Shares .......................................................................................................................................
74