TABLE OF CONTENTS
Page
PART I
ITEM 1.
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS ......................................................
4
ITEM 2.
OFFER STATISTICS AND EXPECTED TIMETABLE .........................................................................................
4
ITEM 3.
KEY INFORMATION ................................................................................................................................................
4
3A.
Selected Financial Data ...............................................................................................................................................
5
3B.
Capitalization And Indebtedness .................................................................................................................................
6
3C.
Reasons For The Offer And Use Of Proceeds ............................................................................................................
6
3D.
Risk Factors..................................................................................................................................................................
6
ITEM 4.
INFORMATION ON THE COMPANY ....................................................................................................................
19
4A.
History And Development Of The Company .............................................................................................................
19
4B.
Business Overview ......................................................................................................................................................
21
4C.
Organizational Structure ..............................................................................................................................................
30
4D.
Property, Plant And Equipment ...................................................................................................................................
30
ITEM 4A.
UNRESOLVED STAFF COMMENTS .....................................................................................................................
41
ITEM 5.
OPERATING AND FINANCIAL REVIEW AND PROSPECTS ...........................................................................
41
5A.
Operating Results ........................................................................................................................................................
41
5B.
Liquidity And Capital Resources ................................................................................................................................
58
5C.
Research And Development, Patents And Licenses, Etc............................................................................................
60
5D.
Trend Information ........................................................................................................................................................
60
5E.
Off-Balance Sheet Arrangements ................................................................................................................................
60
5F.
Tabular Disclosure Of Contractual Obligations ..........................................................................................................
61
5G.
Safe Harbor ..................................................................................................................................................................
61
ITEM 6.
DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES .............................................................................
61
6A.
Directors And Senior Management .............................................................................................................................
61
6B.
Compensation ..............................................................................................................................................................
63
6C.
Board Practices ............................................................................................................................................................
65
6D.
Employees ....................................................................................................................................................................
69
6E.
Share Ownership ..........................................................................................................................................................
71
ITEM 7.
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS ..........................................................
73
7A.
Major Shareholders ......................................................................................................................................................
73
7B.
Related Party Transactions ..........................................................................................................................................
74
7C.
Interests Of Experts And Counsel ...............................................................................................................................
75
ITEM 8.
FINANCIAL INFORMATION ..................................................................................................................................
75
8A.
Consolidated statements And Other Financial Information .......................................................................................
75
8B.
Significant Changes .....................................................................................................................................................
75
ITEM 9.
THE OFFER AND LISTING .....................................................................................................................................
76
9A.
Offer And Listing Details ............................................................................................................................................
76
9B.
Plan Of Distribution .....................................................................................................................................................
77
9C.
Markets .........................................................................................................................................................................
77
9D.
Selling Shareholders ....................................................................................................................................................
77
9E.
Dilution ........................................................................................................................................................................
77
9F.
Expenses Of The Issue.................................................................................................................................................
77
ITEM 10.
ADDITIONAL INFORMATION .............................................................................................................................
77
10A.
Share Capital ................................................................................................................................................................
77
10B.
Memorandum of Incorporation ...................................................................................................................................
77
10C.
Material Contracts ........................................................................................................................................................
80
10D.
Exchange Controls .......................................................................................................................................................
82
10E.
Taxation .......................................................................................................................................................................
84
10F.
Dividends And Paying Agents ....................................................................................................................................
88
10G.
Statement By Experts ..................................................................................................................................................
88
10H.
Documents On Display ................................................................................................................................................
88
10I.
Subsidiary Information ................................................................................................................................................
88
ITEM 11.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK .........................................
89
ITEM 12.
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES .........................................................
90
12A.
Debt Securities ............................................................................................................................................................
90
12B.
Warrants and Rights.....................................................................................................................................................
90
12C.
Other Securities ...........................................................................................................................................................
90
12D
American Depositary Shares .......................................................................................................................................
90