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-594.96 re W n /Cs10 CS 0.8 SCN 0 J 0 j 0.96 w 10 M []0 d /GS1 gs -18.945 551.57 m 491.295 551.57 l S 1.92 w -18.945 571.01 m 491.295 571.01 l S Q /GS1 gs BT /F2 1 Tf 13 0 0 13 34.815 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (4)Tj /F5 1 Tf 5 0 0 5 58.095 573.17 Tm /Cs9 cs 0 scn 0.3092 Tc 0.5285 Tw [(New Universe International Group Limited)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M []0 d 1 i 50.295 571.01 m 50.295 551.81 l S BT /F4 1 Tf 6.75 0 1.4348 7.5 42.495 530.69 Tm /Cs10 cs 1 scn 0.0413 Tc 0 Tw (Notes:)Tj /F3 1 Tf 6.75 0 0 7.5 42.495 506.69 Tm 0.0399 Tc 0.0346 Tw [(1)-2355.2(B)0.1(asis of preparation and accounting policies)]TJ /F4 1 Tf 2.9511 -1.6 TD 0.0459 Tc 0.0656 Tw [(The Company is an investment holding company)103.5(. Its subsidiaries are principally engaged in \(i\))]TJ T* 0.0702 Tc 0.1959 Tw (the manufacturing and sale of molds and plastic products; and \(ii\) property investment,)Tj T* 0.034 Tc 0.0193 Tw (development and operation of docks, warehouses and logistics facilities in Xinminzhou, Zhenjiang)Tj T* 0.0398 Tc 0.034 Tw [(City)103.5(, Jiangsu Province, the PRC.)]TJ 0 -3.2 TD 0.0463 Tc 0.0636 Tw (In the opinion of the Directors, the ultimate holding company of the Company is New Universe)Tj 0 -1.6 TD 0.0399 Tc 0.0348 Tw [(Enterprises Limited \(襈UEL覾), which is incorporated in British V)22.3(irgin Islands.)]TJ 0 -3.2 TD 0.0413 Tc 0.044 Tw [(This unaudited condensed consolidated financial statements have been prepared in accordance)]TJ 0 -1.6 TD 0.0374 Tc 0.0255 Tw [(with the applicable disclosure requirements of the GEM Listing Rules and Hong Kong )82.7(Accounting)]TJ T* 0.0445 Tc 0.0586 Tw [(Standard 34 襂nterim Financial Reporting?issued by the Hong Kong Institute of Certified Public)]TJ T* 0.0401 Tc 0.0418 Tw [(Accountants \(襀KICP)102.4(A覾).)]TJ 0 -3.2 TD 0.0523 Tc 0.1112 Tw (These unaudited condensed consolidated financial statements should be read in conjunction)Tj 0 -1.6 TD 0.0399 Tc 0.0339 Tw [(with the 2006 annual financial statements of the Company)95.8(.)]TJ 0 -3.2 TD 0.0467 Tc 0.0699 Tw [(The accounting policies and methods of computation used in the preparation of this unaudited)]TJ 0 -1.6 TD 0.0455 Tc 0.0682 Tw [(condensed consolidated financial statements are consistent with those used in the preparation)]TJ T* 0.0407 Tc 0.0374 Tw [(of the Group?20.5(s annual financial statements for the year ended 31 December 2006. 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Pursuant to the)Tj T* 0.0384 Tc 0.0273 Tw [(income tax rules and regulations in the Mainland China, Suzhou New Universe Smartech )46.5(T)116.1(ooling)]TJ T* 0.0554 Tc 0.1229 Tw (& Plastics Limited, New Universe International \(Zhenjiang\) Port Company Limited, and New)Tj T* 0.0461 Tc 0.0714 Tw [(Universe International \(Zhenjiang\) W)60.1(arehouses Company Limited are eligible for a 100% relief)]TJ T* 0.0537 Tc 0.1007 Tw [(from China enterprise income tax for the first two years from their first profit-making year of)]TJ T* 0.0461 Tc 0.0636 Tw [(operation and thereafter)66.2(, they will be entitled to a 50% relief from China enterprise income tax)]TJ T* 0.0399 Tc 0.034 Tw (for the following three years.)Tj 0 -3.072 TD 0.0507 Tc 0.0992 Tw [(The Group?26.3(s provision for deferred tax represents timing dif)30.9(f)-0.1(erences arising from accelerated)]TJ 0 -1.6 TD 0.0401 Tc 0.0416 Tw (depreciation allowances.)Tj 0 -3.072 TD 0.0399 Tc 0.0351 Tw [(Deferred tax assets not recognised:)]TJ T* 0.038 Tc 0.0265 Tw (At 30 September 2007, the Group has unused tax losses of HK$21,876,000 \(31 December 2006:)Tj 0 -1.6 TD 0.0386 Tc 0.0275 Tw [(HK$18,051,000\) available for of)52.1(fsetting against future taxable profits that may be carried forward)]TJ T* 0.0469 Tc 0.0656 Tw [(indefinitely)95.8(. No deferred tax asset has been recognised in respect of the tax losses due to the)]TJ T* 0.0399 Tc 0.036 Tw [(unpredictability of future profit streams.)]TJ 0 -3.072 TD 0.0357 Tw (Deferred tax liabilities not recognised:)Tj T* 0.0444 Tc 0.0582 Tw (At 30 September 2007, there is no significant unrecognised deferred tax liability \(31 December)Tj 0 -1.6 TD 0.0312 Tc 0.0149 Tw [(2006: Nil\) for taxes that would be payable on the unremitted earnings of certain of the subsidiaries)]TJ T* 0.049 Tc 0.0736 Tw [(as the Group is in a position to control the timing of the reversal of the temporary dif)51.2(ferences)]TJ T* 0.0398 Tc 0.0332 Tw [(and it is probable that such dif)39(f)-0.1(erences will not be reversed in the foreseeable future.)]TJ /F3 1 Tf -2.9511 -3.04 TD 0.0402 Tc 0 Tw [(4)-2354.9(Dividend)]TJ /F4 1 Tf 2.9511 -1.6 TD 0.0304 Tc 0.0135 Tw (The Board does not recommend the payment of dividend for the nine months ended 30 September)Tj T* 0.0398 Tc 0.0342 Tw [(2007 \(2006: Nil\).)]TJ /F3 1 Tf -2.9511 -3.072 TD 0.033 Tw [(5)-2355.3(Loss per share)]TJ /F4 1 Tf 2.9511 -1.6 TD 0.0417 Tc 0.0421 Tw [(The calculation of basic loss \(2006: loss\) per share is based on the loss from ordinary activities)]TJ T* 0.0484 Tc 0.0781 Tw [(attributable to equity holders for the nine months ended 30 September 2007 of HK$7,306,000)]TJ T* 0.0266 Tc 0.0069 Tw [(\(2006: loss of HK$5,955,000\) and for the three months ended 30 September 2007 of HK$1,064,000)]TJ T* 0.0379 Tc 0.0264 Tw (\(2006: loss of HK$2,140,000\) and the weighted average of 1,128,716,000 \(2006: 180,558,000 as)Tj T* 0.0427 Tc 0.0458 Tw (restated due to a share consolidation of every ten shares of the Company into one share which)Tj T* 0.0459 Tc 0.0609 Tw [(was completed on 18 December 2006, and adjusted to reflect the rights Issue of the Company)]TJ T* 0.0716 Tc 0.199 Tw (became unconditional on 17 January 2007\) ordinary shares in issue during the periods)Tj T* 0.0406 Tc 0 Tw [(respectively)77.9(.)]TJ 0 -3.072 TD 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turnover and gross profit of the Group)Tj 0 -1.4118 TD 0.0571 Tc 0.1328 Tw [(declined as compared to the corresponding period in 2006. )16.6(T)40.7(urnover and gross profit)]TJ T* 0.0411 Tc 0.0516 Tw (decreased by 26.5% and 50.1% to HK$39,144,000 and HK$5,428,000 respectively for the)Tj T* 0.0379 Tc 0.0335 Tw (nine months ended 30 September 2007.)Tj 0 -2.8235 TD 0.0588 Tc 0.1441 Tw (The Group has been exploring the feasibility of consolidating its resources for future)Tj 0 -1.4118 TD 0.0381 Tc 0.0383 Tw (diversification and business transformation.)Tj /F3 1 Tf 0 -2.8235 TD 0.0368 Tw (Performance of Smartech)Tj /F4 1 Tf 0 -1.7506 TD 0.0245 Tc 0.0066 Tw (In the recent years, the Board has been reviewing the operations of both Dongguan Smartech)Tj 0 -1.4118 TD 0.0415 Tc 0.0577 Tw [(T)119.2(ooling and Plastics Limited \(褼ongguan Smartech覾) and Smartech Manufacturing Limited)]TJ T* 0.0494 Tc 0.0988 Tw (\(襍ML覾) \(collectively referred to as 襍martech覾). During the period ended 30 September)Tj T* 0.0337 Tc 0.0224 Tw (2007, turnover of Smartech has been decreasing as compared to that for the corresponding)Tj T* 0.0472 Tc 0.0853 Tw [(period in 2006, and overall performance of Smartech slowed down. Smartech?27.5(s turnover)]TJ T* 0.0417 Tc 0.051 Tw [(represented 48.9% of the Group?34.9(s turnover in current period as compared to 71.5% in the)]TJ T* 0.0548 Tc 0.1213 Tw (corresponding period in 2006. Molds sales of Smartech represented 56.3% of its total)Tj T* 0.0287 Tc 0.0139 Tw [(turnover in current period, of which 98.6% was sales to Hong Kong and overseas customers,)]TJ T* 0.0435 Tc 0.061 Tw (and 1.4% was sales in Mainland China. Plastics sales of Smartech represented 43.7% of)Tj T* 0.0592 Tc 0.13 Tw (its turnover in current period, of which 60.6% was sales to Hong Kong and overseas)Tj T* 0.0379 Tc 0.0334 Tw (customers and 39.4% was sales in Mainland China.)Tj 0 -2.8235 TD 0.0421 Tc 0.0551 Tw (Dongguan Smartech has recorded losses for the past few years, whose performance was)Tj 0 -1.4118 TD 0.0488 Tc 0.0906 Tw [(mainly af)13(fected by the increasing production costs in Guangdong Province, the PRC. In)]TJ T* 0.0622 Tc 0.1516 Tw [(August 2007, the Board proposed to dispose of the Group?15.1(s entire equity interest in)]TJ T* 0.0403 Tc 0.0464 Tw (Dongguan Smartech to a wholly owned subsidiary of NUEL at an adjustable consideration)Tj T* 0.0463 Tc 0.0854 Tw (of approximately HK$24,162,000 \(hereinafter referred to as the 褼isposal覾), which under)Tj T* 0.0272 Tc 0.0111 Tw [(the GEM Listing Rules constituted a major transaction of the Company)72.4(, and also a connected)]TJ T* 0.0553 Tc 0.1295 Tw [(transaction of the Company subject to approval of the independent shareholders. )11.9(The)]TJ T* 0.0558 Tc 0.1222 Tw (Disposal is expected to be an opportunity of the Group to discontinue its loss-making)Tj T* 0.0388 Tc 0 Tw (operations.)Tj ET endstream endobj 79 0 obj << /ExtGState << /GS1 107 0 R >> /ColorSpace << /Cs8 108 0 R /Cs9 109 0 R /Cs10 110 0 R >> /XObject << /Im1 111 0 R >> /Font << /F3 112 0 R /F4 113 0 R /G1 118 0 R /F1 114 0 R /F2 115 0 R >> /ProcSet [ /PDF /Text /ImageB ] >> endobj 80 0 obj << /Length 5234 >> stream q 1 i 0 594.96 419 -43.41 re W n /GS1 gs q 422.670685 0 0 45.141823 -1.488798 551.549988 cm /Im1 Do Q Q /GS1 gs BT /F1 1 Tf 7 0 0 5 201.135 573.17 Tm /Cs9 cs 0 scn 0.3487 Tc 0.593 Tw [(THIRD QUARTERL)105.8(Y REPORT 2007)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M []0 d 1 i 369.255 571.01 m 369.255 551.81 l S BT /F2 1 Tf 13 0 0 13 375.375 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (9)Tj ET q 0 594.96 419 -594.96 re W n 1.92 w -70.785 571.01 m 439.455 571.01 l S 0.96 w -70.785 551.57 m 439.455 551.57 l S Q BT /F3 1 Tf 7.65 0 0 8.5 42.495 530.69 Tm 0.0379 Tc 0.0344 Tw (Performance of Suzhou New Universe)Tj /F4 1 Tf 0 -1.7506 TD 0.0405 Tc 0.0472 Tw [(During the period ended 30 September 2007, turnover of Suzhou New Universe Smartech)]TJ 0 -1.4118 TD 0.0453 Tc 0.073 Tw [(T)123(ooling and Plastics Limited \(襍uzhou New Universe覾) increased as compared to that for)]TJ T* 0.0324 Tc 0.02 Tw (the corresponding period in 2006. Profit margin of Suzhou New Universe was approximately)Tj T* 0.0374 Tc 0.0312 Tw [(3.3% in current period. Suzhou New Universe?43.3(s turnover represented 51.1% of the Group誷)]TJ T* 0.0548 Tc 0.1162 Tw (turnover in current period as compared to 28.5% in the corresponding period in 2006.)Tj T* 0.0506 Tc 0.0963 Tw (Molds sales of Suzhou New Universe represented 75.4% of its total turnover in current)Tj T* 0.0367 Tc 0.0275 Tw (period, of which 29.0% was sales to overseas customers and 71.0% was sales in Mainland)Tj T* 0.0462 Tc 0.0751 Tw (China. Plastics sales of Suzhou New Universe represented 24.6% of its total turnover in)Tj T* 0.0433 Tc 0.0581 Tw (current period, of which 70.1% was sales to overseas customers and 29.9% was sales in)Tj T* 0.0414 Tc 0.0523 Tw [(Mainland China. With ef)21.6(fort on betterment of the process management and quality control)]TJ T* 0.0268 Tc 0.0099 Tw [(of the factory?24.3(s production, Suzhou New Universe has obtained the ISO/TS16949 certification)]TJ T* 0.038 Tc 0.0352 Tw (during the period.)Tj /F3 1 Tf 0 -2.8235 TD 0.035 Tw (Development of Zhenjiang Docks Project)Tj /F4 1 Tf 0 -1.7506 TD 0.0527 Tc 0.1198 Tw [(After the Company?21(s shareholders approved the co-operative agreement dated 18 July)]TJ 0 -1.4118 TD 0.0369 Tc 0.0282 Tw [(2006 \(褻o-operative )50.4(Agreement覾) entered into between the Company and the China parties)]TJ T* 0.055 Tc 0.135 Tw [(\(褻hina Parties? comprising )17.1(The District Government of Jingkou, Zhenjiang and State)]TJ T* 0.0588 Tc 0.1403 Tw (Owned Gongqingtuan Farm of Jiangsu Province\) in relation to the investment for the)Tj T* 0.0355 Tc 0.0255 Tw (construction of dock infrastructure and development of warehouses and depot facilities at a)Tj T* 0.0354 Tc [(site area in Xinminzhou, Jingkou District, Zhenjiang City)79.8(, Jiangsu Province, Mainland China)]TJ T* 0.0444 Tc 0.074 Tw (\(襔henjiang Docks Project覾), the Group established two wholly foreign owned enterprises)Tj T* 0.0279 Tc 0.0115 Tw (with total registered capital of US$25,000,000 \(approximately HK$194,000,000\) in Zhenjiang,)Tj T* 0.0394 Tc 0.0445 Tw [(the Mainland China \(襔henjiang WFOEs覾), namely)81.9(, New Universe International \(Zhenjiang\))]TJ T* 0.0576 Tc 0.1357 Tw (Port Company Limited \()Tj /G1 1 Tf 12.1726 0 TD 0.151 Tc 0 Tw [<0e2d03c10a3710e7>-7.6<3558>107.5<1544>0<03ea>-19.5<3559>107.5<0ca50a1503de082202ae0321>]TJ /F4 1 Tf 14.5882 0 TD 0.0576 Tc 0.1357 Tw (\) \(襔henjiang Port Co.覾) and New)Tj -26.7608 -1.4118 TD 0.045 Tc 0.0853 Tw [(Universe International \(Zhenjiang\) W)57.2(arehouses Company Limited \()]TJ /G1 1 Tf 32.9098 0 TD 0.1305 Tc 0 Tw [<0e2d03c10a3710e7>-23.9<3558>87<1544>-1.1<03ea3559>87<085113b703de>]TJ -32.9098 -1.4118 TD 0.1149 Tc <082202ae0321>Tj /F4 1 Tf 3.3569 0 TD 0.0378 Tc 0.0342 Tw [(\) \(襔henjiang W)58.1(arehouses Co.覾).)]TJ -3.3569 -2.8235 TD 0.0427 Tc 0.0577 Tw [(The senior management team of both Zhenjiang Port Co. and Zhenjiang W)63.1(arehouses Co.)]TJ 0 -1.4118 TD 0.0407 Tc 0.0454 Tw (has been appointed to manage the initial phase of the Zhenjiang Docks Project. 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Barring any unforeseeable circumstances and)Tj T* 0.0402 Tc 0.0454 Tw [(with the continuous ef)26.4(fort of all parties to the Co-operative )61.3(Agreement, the Company does)]TJ T* 0.0417 Tc 0.0547 Tw [(not expect any dif)31(ficulties in obtaining the required approvals for Zhenjiang Docks Project)]TJ T* 0.0388 Tc 0.0371 Tw [(from the relevant authorities in the Mainland China. It is expected that part of the land use)]TJ T* 0.0379 Tc 0.0332 Tw [(rights for the Zhenjiang Docks Project will be granted in the coming quarter)81.5(.)]TJ ET endstream endobj 81 0 obj << /ExtGState << /GS1 107 0 R >> /ColorSpace << /Cs8 108 0 R /Cs9 109 0 R /Cs10 110 0 R >> /XObject << /Im2 116 0 R >> /Font << /F3 112 0 R /F4 113 0 R /F5 117 0 R /F2 115 0 R >> /ProcSet [ /PDF /Text /ImageB ] >> endobj 82 0 obj << /Length 5110 >> stream q 1 i 0 594.96 419 -43.41 re W n /GS1 gs q 422.574005 0 0 45.141823 -1.241899 551.549988 cm /Im2 Do Q Q q 1 i 0 594.96 419 -594.96 re W n /Cs10 CS 0.8 SCN 0 J 0 j 0.96 w 10 M []0 d /GS1 gs -18.945 551.57 m 491.295 551.57 l S 1.92 w -18.945 571.01 m 491.295 571.01 l S Q /GS1 gs BT /F2 1 Tf 13 0 0 13 25.695 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (10)Tj /F5 1 Tf 5 0 0 5 58.095 573.17 Tm /Cs9 cs 0 scn 0.3092 Tc 0.5285 Tw [(New Universe International Group Limited)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M []0 d 1 i 50.295 571.01 m 50.295 551.81 l S BT /F3 1 Tf 7.65 0 0 8.5 42.495 530.69 Tm /Cs10 cs 1 scn 0.038 Tc 0.0363 Tw (Investments and finance)Tj /F4 1 Tf 0 -1.7506 TD 0.0279 Tc 0.0122 Tw (Subsequent to the completion of the capital re-organisation of the Company on 18 December)Tj 0 -1.4118 TD 0.0552 Tc 0.1175 Tw (2006, the Company proceeded with a rights issue of 1,042,720,000 rights shares at a)Tj T* 0.035 Tc 0.0248 Tw (subscription price of HK$0.10 per rights share on the basis of seven rights shares for every)Tj T* 0.0501 Tc 0.0958 Tw [(share held by the Company?17.7(s shareholders on 28 December 2006 \(襌ights Issue覾). )22.7(The)]TJ T* 0.0497 Tc 0.0872 Tw [(Rights Issue was completed on 17 January 2007. )25.3(The net proceeds of the Rights Issue)]TJ T* 0.0353 Tc 0.025 Tw (\(after deduction of expenses amounted to approximately HK$1,204,000\) was approximately)Tj T* 0.0655 Tc 0.1996 Tw (HK$103,068,000, of which approximately HK$56,944,000 was received in cash and)Tj T* 0.036 Tc 0.0264 Tw (approximately HK$46,124,000 was used to repay the unsecured interest free loans granted)Tj T* 0.0401 Tc 0.0459 Tw [(by the Company?7.8(s controlling shareholder)65.2(, NUEL)58.5( \(of which HK$41,904,000 had been used)]TJ T* 0.0414 Tc 0.0515 Tw [(for initial capital contribution to the Zhenjiang WFOEs before the completion of the Rights)]TJ T* 0.0385 Tc 0.0368 Tw [(Issue\), directly by setting of)21.4(f on a dollar-to-dollar basis against the pro-rata entitlements of)]TJ T* 0.0371 Tc 0.0292 Tw (NUEL to the Rights Issue.)Tj 0 -2.8235 TD 0.0434 Tc 0.0603 Tw (As at 30 September 2007, the Company has contributed capital in cash of US$8,500,000)Tj 0 -1.4118 TD 0.0457 Tc 0.0877 Tw [(\(approximately HK$65,960,000\) to Zhenjiang Port Co. and US$1,500,000 \(approximately)]TJ T* 0.0291 Tc 0.014 Tw [(HK$1)76.1(1,640,000\) to Zhenjiang W)35.3(arehouses Co. respectively)75.4(. )63.5(A)37.3( related company of the Group,)]TJ T* 0.0387 Tc 0.0381 Tw (China \(HK\) Chemical and Plastics Co. Limited \(褻hina \(HK\) Chemical覾), has undertaken to)Tj T* 0.0403 Tc 0.0454 Tw (support the Group for the development of the Zhenjiang Docks Project, though the Group,)Tj T* 0.043 Tc 0.0595 Tw (besides its feasible internal resources, would also seek bank financing or other means of)Tj T* 0.0379 Tc 0.0336 Tw (finance for the purposes of the Zhenjiang Docks Project.)Tj 0 -2.8235 TD 0.0337 Tw [(In )67.3(August 2007, the Board entered into conditional agreements and proposed \(i\) to acquire)]TJ 0 -1.4118 TD 0.0481 Tc 0.0802 Tw (from a wholly owned subsidiary of NUEL and other related parties an aggregate of 82%)Tj T* 0.0443 Tc 0.0712 Tw (equity interests in three environmental corporations situated in the Jiangsu Province, the)Tj T* 0.0615 Tc 0.1468 Tw (PRC, at a total consideration of HK$78,638,000, which has been settled by issue of)Tj T* 0.0303 Tc 0.0165 Tw (366,515,787 new shares of the Company and payment of HK$9,000,000 in cash \(hereinafter)Tj T* 0.0271 Tc 0.0106 Tw [(referred to as the 褽nvironmental )56.3(Acquisitions覾); and \(ii\) to acquire from NUEL)49.1( the investment)]TJ T* 0.0472 Tc 0.0918 Tw [(interests in three plastic materials dyeing corporations situated respectively at Qingdao,)]TJ T* 0.0506 Tc 0.0946 Tw (Danyang and Suzhou in the PRC at a total consideration of HK$56,862,220, which has)Tj T* 0.0687 Tc 0.1749 Tw (been settled by issue of 267,695,894 new shares of the Company and payment of)Tj T* 0.0374 Tc 0.0313 Tw [(HK$6,000,000 in cash \(hereinafter referred to as the 褼yeing )73.5(Acquisition覾). Under the GEM)]TJ T* 0.0464 Tc 0.0786 Tw [(Listing Rules, each and the aggregate of the Environmental )54.2(Acquisitions and the Dyeing)]TJ T* 0.0457 Tc 0.0779 Tw [(Acquisition constituted major transaction of the Company)87.1(, and they were also connected)]TJ T* 0.0442 Tc 0.0673 Tw [(transactions of the Company subject to approval of the independent shareholders. )79.8(At the)]TJ T* 0.0375 Tc 0.0317 Tw [(extraordinary general meeting held on 8 October 2007, the Environmental )63.1(Acquisitions and)]TJ T* 0.0509 Tc 0.1109 Tw [(the Dyeing )67(Acquisition, amongst other transactions, were approved by the independent)]TJ T* 0.0331 Tc 0.0211 Tw [(shareholders of the Company)80.8(. On 12 October 2007, the consideration for the Environmental)]TJ T* 0.0378 Tc 0.0331 Tw [(Acquisitions and the Dyeing )65.9(Acquisition were fully settled by payment of HK$15,000,000 to)]TJ T* 0.0274 Tc 0.0115 Tw [(NUEL, and the issue and allotment of an aggregate 634,21)68.2(1,681 new shares of the Company)]TJ T* 0.038 Tc 0.0332 Tw (to the vendors and NUEL.)Tj ET endstream endobj 83 0 obj << /ExtGState << /GS1 107 0 R >> /ColorSpace << /Cs8 108 0 R /Cs9 109 0 R /Cs10 110 0 R >> /XObject << /Im1 111 0 R >> /Font << /F3 112 0 R /F4 113 0 R /F1 114 0 R /F2 115 0 R >> /ProcSet [ /PDF /Text /ImageB ] >> endobj 84 0 obj << /Length 4149 >> stream q 1 i 0 594.96 419 -43.41 re W n /GS1 gs q 422.670685 0 0 45.141823 -1.488798 551.549988 cm /Im1 Do Q Q /GS1 gs BT /F1 1 Tf 7 0 0 5 201.135 573.17 Tm /Cs9 cs 0 scn 0.3487 Tc 0.593 Tw [(THIRD QUARTERL)105.8(Y REPORT 2007)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M []0 d 1 i 369.255 571.01 m 369.255 551.81 l S BT /F2 1 Tf 13 0 0 13 375.375 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (11)Tj ET q 0 594.96 419 -594.96 re W n 1.92 w -70.785 571.01 m 439.455 571.01 l S 0.96 w -70.785 551.57 m 439.455 551.57 l S Q BT /F3 1 Tf 7.65 0 0 8.5 42.495 530.69 Tm 0.0387 Tc (Prospects)Tj /F4 1 Tf 0 -1.7506 TD 0.0495 Tc 0.0906 Tw (The Group sees the importance of investment in and betterment of the productivity and)Tj 0 -1.4118 TD 0.0669 Tc 0.1844 Tw (technical know-how of both Smartech and Suzhou New Universe to the continuous)Tj T* 0.0433 Tc 0.0586 Tw (improvement of the overall performance of the Group. On the other hand, the Group also)Tj T* 0.0591 Tc 0.1543 Tw (sees the importance of exploring the feasibility of future diversification and business)Tj T* 0.0387 Tc 0 Tw (transformation.)Tj 0 -2.8235 TD 0.0377 Tc 0.0323 Tw [(Subsequent to the capital re-organisation being ef)21(fective by the end of 2006, the Company)]TJ 0 -1.4118 TD 0.0622 Tc 0.1381 Tw (raised funds in January 2007 by a Rights Issue to invest on the development of the)Tj T* 0.038 Tc 0.0363 Tw (Zhenjiang Docks Project.)Tj 0 -2.8235 TD 0.0359 Tc 0.0262 Tw (Entering the third quarter of 2007, the Board has proposed to implement the Environmental)Tj 0 -1.4118 TD 0.0248 Tc 0.0065 Tw [(Acquisitions, the Dyeing )74.2(Acquisition, and the Disposal. On 8 October 2007, the Environmental)]TJ T* 0.0426 Tc 0.0607 Tw [(Acquisitions, the Dyeing )55(Acquisition, and the Disposal were approved by the independent)]TJ T* 0.0436 Tc 0.0686 Tw (shareholders of the Company at the extraordinary general meeting. Following completion)Tj T* 0.0547 Tc 0.1277 Tw [(of the Environmental )63.2(Acquisitions, the Dyeing )56.5(Acquisition and the Disposal, the Board)]TJ T* 0.0667 Tc 0.176 Tw (intends to categorise the business portfolio of the Group into: \(i\) the operations of)Tj T* 0.0345 Tc 0.0235 Tw [(environmental disposal and recycling for industrial and medical wastes; \(ii\) the manufacture)]TJ T* 0.0388 Tc 0.038 Tw (and sale of molds and plastic products; and \(iii\) the property investment, development and)Tj T* 0.0721 Tc 0.231 Tw [(operations of docks, warehouses and logistics facilities. )28.5(The Board considers the)]TJ T* 0.0482 Tc 0.0961 Tw [(Environmental )67.2(Acquisitions, the Dyeing )49.9(Acquisition and the Disposal as strategic moves)]TJ T* 0.0708 Tc 0.1801 Tw (which would enable the Group to reduce the loss of its mold and plastic products)Tj T* 0.0459 Tc 0.0823 Tw (manufacturing operation and to generate additional income sources with better business)Tj T* 0.0387 Tc 0.0388 Tw [(potential in the environmental business. )15.7(The Board expects that the business performance)]TJ T* 0.0559 Tc 0.1273 Tw [(of the Group will be improved upon completion of the Environmental )74(Acquisitions, the)]TJ T* 0.038 Tc 0.0351 Tw [(Dyeing )51.8(Acquisition and the Disposal.)]TJ 0 -2.8235 TD 0.036 Tc 0.0264 Tw (The Board will also continue to seek investment opportunities in the environmental industry)Tj 0 -1.4118 TD 0.0545 Tc 0.1095 Tw (with a view to further improve the business performance of the Group. On 15 October)Tj T* 0.0482 Tc 0.0798 Tw (2007, the Company has entered into a letter of intent with an independent third party in)Tj T* 0.0556 Tc 0.119 Tw (relation to a proposed acquisition of not less than the controlling equity interest in an)Tj T* 0.0454 Tc 0.0782 Tw (environmental electroplating recycling project, the operation of which will include but not)Tj T* 0.0249 Tc 0.0066 Tw (limited to the environmental treatment of electroplating waste water and residue and recycling)Tj T* 0.038 Tc 0.0348 Tw [(of metallic substance and resources.)]TJ 0 -2.8235 TD 0.0268 Tc 0.0104 Tw (The Board remains confident of the continuous growth of the Group, and that its performance)Tj 0 -1.4118 TD 0.0379 Tc 0.0333 Tw (will be improved in the coming future.)Tj ET endstream endobj 85 0 obj << /ExtGState << /GS1 107 0 R >> /ColorSpace << /Cs8 108 0 R /Cs9 109 0 R /Cs10 110 0 R >> /XObject << /Im2 116 0 R >> /Font << /F3 112 0 R /F4 113 0 R /F5 117 0 R /F2 115 0 R >> /ProcSet [ /PDF /Text /ImageB ] >> endobj 86 0 obj << /Length 4518 >> stream q 1 i 0 594.96 419 -43.41 re W n /GS1 gs q 422.574005 0 0 45.141823 -1.241899 551.549988 cm /Im2 Do Q Q q 1 i 0 594.96 419 -594.96 re W n /Cs10 CS 0.8 SCN 0 J 0 j 0.96 w 10 M []0 d /GS1 gs -18.945 551.57 m 491.295 551.57 l S 1.92 w -18.945 571.01 m 491.295 571.01 l S Q /GS1 gs BT /F2 1 Tf 13 0 0 13 25.695 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (12)Tj /F5 1 Tf 5 0 0 5 58.095 573.17 Tm /Cs9 cs 0 scn 0.3092 Tc 0.5285 Tw [(New Universe International Group Limited)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M []0 d 1 i 50.295 571.01 m 50.295 551.81 l S BT /F3 1 Tf 8.55 0 0 9.5 42.495 530.69 Tm /Cs10 cs 1 scn 0.035 Tc 0.037 Tw (FINANCIAL REVIEW)Tj 7.65 0 0 8.5 42.495 515.81 Tm 0.038 Tc 0.0349 Tw [(T)84.3(urnover and gross profit)]TJ /F4 1 Tf 0 -1.7506 TD 0.0399 Tc 0.0436 Tw [(The Group?17(s turnover was HK$39,144,000 for the nine months ended 30 September 2007,)]TJ 0 -1.4118 TD 0.0409 Tc 0.0496 Tw (reflecting a decrease of 26.5% from HK$53,282,000 for the corresponding period in 2006.)Tj T* 0.0482 Tc 0.0891 Tw (Smartech and Suzhou New Universe have contributed 48.9% and 51.1% respectively of)Tj T* 0.0361 Tc 0.0266 Tw [(the Group?5.7(s turnover for the nine months ended 30 September 2007 as compared to 71.5%)]TJ T* 0.0393 Tc 0.04 Tw (and 28.5% respectively for the corresponding period in 2006. Gross profit of the Group for)Tj T* 0.0581 Tc 0.1318 Tw (the nine months ended 30 September 2007 decreased by 50.1% to HK$5,428,000 as)Tj T* 0.0368 Tc 0.0279 Tw (compared to HK$10,877,000 for the corresponding period in 2006. Gross profit margin was)Tj T* 0.0608 Tc 0.1336 Tw (13.9% for the nine months ended 30 September 2007 as compared to 20.4% for the)Tj T* 0.0429 Tc 0.0585 Tw [(corresponding period in 2006. )32.5(The overall performance of the Group slowed down for the)]TJ T* 0.0379 Tc 0.0335 Tw (nine months ended 30 September 2007.)Tj /F3 1 Tf 0 -2.8235 TD 0.0382 Tc 0.0376 Tw (Other income)Tj /F4 1 Tf 0 -1.7506 TD 0.0609 Tc 0.1475 Tw [(The Group?17(s other income increased to HK$2,684,000 for the nine months ended 30)]TJ 0 -1.4118 TD 0.0468 Tc 0.079 Tw [(September 2007 as compared to HK$623,000 for the corresponding period in 2006. )29.4(The)]TJ T* 0.0469 Tc 0.0819 Tw (current increase was mainly attributable to increases in interest income and scrap sales)Tj T* 0.038 Tc 0.0352 Tw (during the period.)Tj /F3 1 Tf 0 -2.8235 TD 0.0359 Tw (Selling and distribution costs)Tj /F4 1 Tf 0 -1.7506 TD 0.0394 Tc 0.0416 Tw [(The Group?10(s selling and distribution costs decreased by 43.4% to HK$2,51)91.8(1,000 in current)]TJ 0 -1.4118 TD 0.0375 Tc 0.0312 Tw [(period representing 6.4% to the Group?19.1(s turnover for the nine months ended 30 September)]TJ T* 0.0354 Tc 0.0254 Tw (2007; as compared to HK$4,440,000 in last corresponding period that representing 8.3% to)Tj T* 0.0529 Tc 0.1085 Tw [(the turnover for the corresponding period in 2006. )12.4(The current decrease in selling and)]TJ T* 0.0376 Tc 0.0319 Tw [(distribution costs was mainly attributable to decreases in commission paid to agencies and)]TJ T* 0.038 Tc 0.0341 Tw (expenses for after sales services during the period.)Tj /F3 1 Tf 0 -2.8235 TD 0.0382 Tc 0.0416 Tw (Administrative expenses)Tj /F4 1 Tf 0 -1.7506 TD 0.062 Tc 0.1716 Tw (The administrative expenses decreased by 7.8% to HK$9,253,000 in current period,)Tj 0 -1.4118 TD 0.0352 Tc 0.0249 Tw [(representing 23.6% to the Group?18.3(s turnover for the nine months ended 30 September 2007;)]TJ T* 0.0354 Tc 0.0254 Tw (as compared to HK$10,039,000 in last corresponding period that representing 18.8% to the)Tj T* 0.056 Tc 0.1349 Tw [(turnover for the corresponding period in 2006. )16.9(The current decrease in administrative)]TJ T* 0.0406 Tc 0.0472 Tw [(expenses was mainly attributable to decreases in staf)25.9(f costs in the Mainland China during)]TJ T* 0.0379 Tc 0.0349 Tw (the period.)Tj /F3 1 Tf 0 -2.8235 TD 0.0366 Tw (Other operating expenses)Tj /F4 1 Tf 0 -1.7506 TD 0.0549 Tc 0.1261 Tw (The other operating expenses increased by 36.8% to HK$3,033,000 in current period,)Tj 0 -1.4118 TD 0.0396 Tc 0.0416 Tw [(representing 7.7% to the Group?6.8(s turnover for the nine months ended 30 September 2007;)]TJ T* 0.0438 Tc 0.0648 Tw (as compared to HK$2,217,000 in last corresponding period that representing 4.2% to the)Tj T* 0.0537 Tc 0.117 Tw [(turnover for the corresponding period in 2006. )32.2(The current increase in other operating)]TJ T* 0.0379 Tc 0.0338 Tw (expenses was mainly attributable to increases in losses on exchange during the period.)Tj ET endstream endobj 87 0 obj << /ExtGState << /GS1 107 0 R >> /ColorSpace << /Cs8 108 0 R /Cs9 109 0 R /Cs10 110 0 R >> /XObject << /Im1 111 0 R >> /Font << /F3 112 0 R /F4 113 0 R /F1 114 0 R /F2 115 0 R >> /ProcSet [ /PDF /Text /ImageB ] >> endobj 88 0 obj << /Length 3943 >> stream q 1 i 0 594.96 419 -43.41 re W n /GS1 gs q 422.670685 0 0 45.141823 -1.488798 551.549988 cm /Im1 Do Q Q /GS1 gs BT /F1 1 Tf 7 0 0 5 201.135 573.17 Tm /Cs9 cs 0 scn 0.3487 Tc 0.593 Tw [(THIRD QUARTERL)105.8(Y REPORT 2007)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M []0 d 1 i 369.255 571.01 m 369.255 551.81 l S BT /F2 1 Tf 13 0 0 13 375.375 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (13)Tj ET q 0 594.96 419 -594.96 re W n 1.92 w -70.785 571.01 m 439.455 571.01 l S 0.96 w -70.785 551.57 m 439.455 551.57 l S Q BT /F3 1 Tf 7.65 0 0 8.5 42.495 530.69 Tm 0.0382 Tc 0.038 Tw (Finance costs)Tj /F4 1 Tf 0 -1.7506 TD 0.0609 Tc 0.1362 Tw [(The total finance costs of the Group was HK$621,000 for the nine months ended 30)]TJ 0 -1.4118 TD 0.0468 Tc 0.079 Tw [(September 2007 as compared to HK$759,000 for the corresponding period in 2006. )29.4(The)]TJ T* 0.0323 Tc 0.0198 Tw [(current decrease in finance costs was mainly attributable to the decrease in interest bearing)]TJ T* 0.0379 Tc 0.0346 Tw (bank borrowings in current period.)Tj /F3 1 Tf 0 -2.5976 TD 0.0341 Tw (Loss from ordinary activities attributable to equity holders of the Company)Tj /F4 1 Tf 0 -1.7506 TD 0.025 Tc 0.0071 Tw (The Group made a loss from ordinary activities attributable to equity holders of HK$7,306,000)Tj 0 -1.4118 TD 0.0355 Tc 0.0255 Tw (for the nine months ended 30 September 2007, whereas the loss for the last corresponding)Tj T* 0.0381 Tc 0.0372 Tw (period was HK$5,955,000.)Tj /F3 1 Tf 0 -2.5694 TD 0.038 Tc 0.036 Tw (Liquidity and financial resources)Tj /F4 1 Tf 0 -1.7506 TD 0.0436 Tc 0.0641 Tw (The Group operates with conservative treasury policies to avoid risky investments and to)Tj 0 -1.4118 TD 0.0316 Tc 0.0186 Tw [(minimize interest-bearing borrowings. In the current period, the Group financed its operation)]TJ T* 0.0379 Tc 0.0339 Tw (activities with internally generated cash flows, banking facilities, loans from NUEL, and the)Tj T* 0.0382 Tc 0.0379 Tw (Rights Issue.)Tj 0 -2.5976 TD 0.0398 Tc 0.0416 Tw (As at 30 September 2007, the Group had total cash and bank balances of HK$57,985,000)Tj 0 -1.4118 TD 0.0423 Tc 0.0609 Tw [(\(31 December 2006: HK$29,155,000\) and had available unused general banking facilities)]TJ T* 0.038 Tc 0.0356 Tw [(amounted to HK$1)76(1,957,000 \(31 December 2006: HK$6,350,000\).)]TJ 0 -2.5976 TD 0.0483 Tc 0.0874 Tw (As at 30 September 2007, the Group had total outstanding borrowings of approximately)Tj 0 -1.4118 TD 0.038 Tc 0.0353 Tw (HK$21,048,000 \(31 December 2006: HK$78,578,000\) as follows:)Tj 0 -2.5694 TD 0.0683 Tc 0.2261 Tw [(\()28.4(i)28.4(\))-1567.7(secured interest bearing bank borrowings of approximately HK$9,184,000 \(31)]TJ 2.6039 -1.4118 TD 0.038 Tc 0.0377 Tw (December 2006: HK$8,695,000\);)Tj -2.6039 -2.5976 TD 0.0398 Tc 0 Tw (\(ii\))Tj 2.6039 0 TD 0.0582 Tc 0.1649 Tw (unsecured interest bearing bank borrowings of approximately HK$2,124,000 \(31)Tj 0 -1.4118 TD 0.038 Tc 0.0377 Tw (December 2006: HK$7,515,000\);)Tj -2.6039 -2.5976 TD 0.0381 Tc 0 Tw (\(iii\))Tj 2.6039 0 TD 0.0269 Tc 0.0099 Tw (finance lease payables of approximately HK$10,000 \(31 December 2006: HK$601,000\);)Tj 0 -1.4118 TD 0.0387 Tc 0 Tw (and)Tj -2.6039 -2.5694 TD (\(iv\))Tj 2.6039 0 TD 0.0267 Tc 0.0093 Tw [(unsecured non-interest bearing borrowings from the Company?30.1(s controlling shareholder)65.1(,)]TJ 0 -1.4118 TD 0.0723 Tc 0.2162 Tw (NUEL, with a fair value of approximately HK$9,730,000 \(31 December 2006:)Tj T* 0.039 Tc 0 Tw (HK$59,767,000\).)Tj -2.6039 -2.5976 TD 0.0459 Tc 0.0703 Tw [(As at 30 September 2007, there was no outstanding to the related company)85(, China \(HK\))]TJ 0 -1.4118 TD 0.038 Tc 0.0356 Tw (Chemical \(31 December 2006: HK$2,000,000\).)Tj 0 -2.5976 TD 0.0749 Tc 0.2281 Tw (Out of the total outstanding borrowings as at 30 September 2007, approximately)Tj 0 -1.4118 TD 0.0379 Tc 0.0348 Tw [(HK$21,043,000 \(31 December 2006: HK$21,064,000\) was repayable within one year)80(.)]TJ ET endstream endobj 89 0 obj << /ExtGState << /GS1 107 0 R >> /ColorSpace << /Cs8 108 0 R /Cs9 109 0 R /Cs10 110 0 R >> /XObject << /Im2 116 0 R >> /Font << /F3 112 0 R /F4 113 0 R /F5 117 0 R /G1 118 0 R /F2 115 0 R >> /ProcSet [ /PDF /Text /ImageB ] >> endobj 90 0 obj << /Length 4584 >> stream q 1 i 0 594.96 419 -43.41 re W n /GS1 gs q 422.574005 0 0 45.141823 -1.241899 551.549988 cm /Im2 Do Q Q q 1 i 0 594.96 419 -594.96 re W n /Cs10 CS 0.8 SCN 0 J 0 j 0.96 w 10 M []0 d /GS1 gs -18.945 551.57 m 491.295 551.57 l S 1.92 w -18.945 571.01 m 491.295 571.01 l S Q /GS1 gs BT /F2 1 Tf 13 0 0 13 25.695 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (14)Tj /F5 1 Tf 5 0 0 5 58.095 573.17 Tm /Cs9 cs 0 scn 0.3092 Tc 0.5285 Tw [(New Universe International Group Limited)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M 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approximately HK$103,068,000, and the amount of cash)Tj T* 0.0381 Tc 0.0345 Tw (received by the Company from the Rights Issue was approximately HK$56,880,000, as the)Tj T* 0.0427 Tc 0.0625 Tw [(amount of HK$46,124,000 payable by the Company?18.3(s controlling shareholder)70.5(, NUEL, was)]TJ T* 0.0517 Tc 0.1136 Tw [(being capitalised and set-of)31.6(f on a dollar-to-dollar basis against unsecured interest free)]TJ T* 0.038 Tc 0.035 Tw [(shareholder)-43.4(?40.4(s)0( loans previously granted to the Company)77.4(.)]TJ /F3 1 Tf 0 -2.8235 TD 0.036 Tw (Material acquisitions and disposals of subsidiaries)Tj /F4 1 Tf 0 -1.7506 TD 0.0364 Tc 0.0271 Tw [(W)7.9(ith details referred to in the announcement and the circular dated 31 )68.3(August 2007 and 21)]TJ 0 -1.4118 TD 0.0387 Tc 0.0377 Tw [(September 2007 respectively of the Company)76.9(, the Company has entered into the following)]TJ T* 0.038 Tc 0.034 Tw (transactions proposed to acquire and dispose of interests in subsidiaries of the Company:)Tj 0 -2.8235 TD 0.0247 Tc 0.0065 Tw [(\()-14.9(a)-14.9(\))-1278(on 23 )54.9(August 2007, the Company as purchaser)79.3(, New Universe Environmental Protection)]TJ 2.6039 -1.4118 TD 0.0372 Tc 0.0295 Tw [(Group Limited \(襈UEPGL覾) as the vendor and Mr)79.8(. 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Sun Jia Qing )]TJ /G1 1 Tf 36.9882 0 TD 0.1241 Tc 0 Tw <089108951145>Tj /F4 1 Tf 3.3569 0 TD 0.0441 Tc 0.0564 Tw [( as the)]TJ -37.7412 -1.4118 TD 0.037 Tc 0.0286 Tw (vendor entered into a sale and purchase agreement relating to the sale and purchase)Tj T* 0.0574 Tc 0.1229 Tw (of 700,000 shares of HK$1.00 each in the issued share capital of New Universe)Tj T* 0.0299 Tc 0.0156 Tw [(Environmental )45(T)107.6(echnologies \(Jiang Su\) Limited \(襈UET)29.7( \(Jiang Su\)覾) for a consideration)]TJ T* 0.038 Tc 0.0349 Tw [(of HK$6,713,000 \(the 褽nvironmental S&P)46.3( )37.2(Agreement B覾);)]TJ -2.6039 -2.8235 TD 0.0359 Tc 0.0266 Tw [(\(c\))-1325.7(on 23 )67.4(August 2007, the Company as purchaser and Mr)78.3(. 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Having made)Tj T* 0.0511 Tc 0.0998 Tw [(specific enquiry of all Directors of the Company)78.1(, the Directors have complied with, and)]TJ T* 0.0579 Tc 0.1305 Tw (there has no non-compliance with, the required standard of dealings and the code of)Tj T* 0.0376 Tc 0.0338 Tw (conduct regarding directors?securities transactions.)Tj ET endstream endobj 105 0 obj << /ExtGState << /GS1 107 0 R >> /ColorSpace << /Cs8 108 0 R /Cs9 109 0 R /Cs10 110 0 R >> /XObject << /Im2 116 0 R >> /Font << /F3 112 0 R /F4 113 0 R /F5 117 0 R /F2 115 0 R >> /ProcSet [ /PDF /Text /ImageB ] >> endobj 106 0 obj << /Length 3176 >> stream q 1 i 0 594.96 419 -43.41 re W n /GS1 gs q 422.574005 0 0 45.141823 -1.241899 551.549988 cm /Im2 Do Q Q q 1 i 0 594.96 419 -594.96 re W n /Cs10 CS 0.8 SCN 0 J 0 j 0.96 w 10 M []0 d /GS1 gs -18.945 551.57 m 491.295 551.57 l S 1.92 w -18.945 571.01 m 491.295 571.01 l S Q /GS1 gs BT /F2 1 Tf 13 0 0 13 25.695 555.17 Tm /Cs10 cs 1 scn 0 Tc 0 Tw (22)Tj /F5 1 Tf 5 0 0 5 58.095 573.17 Tm /Cs9 cs 0 scn 0.3092 Tc 0.5285 Tw [(New Universe International Group Limited)]TJ ET /Cs10 CS 0.8 SCN 0 J 0 j 4.08 w 10 M []0 d 1 i 50.295 571.01 m 50.295 551.81 l S BT /F3 1 Tf 8.55 0 0 9.5 42.495 530.69 Tm /Cs10 cs 1 scn 0.0357 Tc 0.0423 Tw (AUDIT COMMITTEE)Tj /F4 1 Tf 7.65 0 0 8.5 42.495 515.81 Tm 0.0435 Tc 0.0624 Tw [(The Company?27.1(s audit committee has been established since May 2000 with written terms)]TJ 0 -1.4118 TD 0.0541 Tc 0.1048 Tw (of reference in compliance with Rules 5.28 to 5.33 of the GEM Listing Rules, which is)Tj T* 0.0409 Tc 0.0549 Tw [(chaired by an independent non-executive director)76.8(, currently comprising three independent)]TJ T* 0.0536 Tc 0.1116 Tw [(non-executive directors of the Company)79.6(, Dr)54.7(. CHAN )30.2(Y)61.8(an Cheong, Mr)67.6(. )21.9(YUEN Kim Hung,)]TJ T* 0.0379 Tc 0.0328 Tw [(Michael and Mr)58.6(. HO )16.6(Y)77.4(au Hong, )68.2(Alfred.)]TJ 0 -2.8235 TD 0.0248 Tc 0.0067 Tw [(The Company?30.3(s audit committee has reviewed and commented on the unaudited consolidated)]TJ 0 -1.4118 TD 0.0379 Tc 0.0329 Tw (results of the Group for the nine months ended 30 September 2007.)Tj 25.9451 -2.8235 TD 0.0326 Tw (By order of the Board)Tj /F3 1 Tf -5.6157 -1.4118 TD 0.0358 Tw (New Universe International Group Limited)Tj 9.5059 -1.4118 TD 0.0375 Tc 0.0135 Tw [(XI Y)77(u)]TJ /F4 1 Tf 7.65 0 1.6261 8.5 263.055 371.81 Tm 0.0383 Tc 0 Tw (Chairman)Tj 7.65 0 0 8.5 42.495 347.81 Tm 0.0378 Tc 0.0329 Tw (Hong Kong, 9 November 2007)Tj 0 -2.8235 TD 0.0379 Tc (As of the date of this report, the Board comprises the following directors:)Tj T* 0.0315 Tw [(Mr)49.6(. XI )23.7(Y)46.1(u)]TJ 7.65 0 1.6261 8.5 212.655 299.81 Tm 0.0382 Tc 0.0407 Tw (\(Executive Director\))Tj 7.65 0 0 8.5 42.495 287.81 Tm 0.038 Tc 0.0335 Tw (Ms. CHEUNG Siu Ling)Tj 7.65 0 1.6261 8.5 212.655 287.81 Tm 0.0382 Tc 0.0407 Tw (\(Executive Director\))Tj 7.65 0 0 8.5 42.495 275.81 Tm 0.0379 Tc 0.0316 Tw [(Mr)49.6(. HON W)30.4(a)0( Fai)]TJ 7.65 0 1.6261 8.5 212.655 275.81 Tm 0.0382 Tc 0.0407 Tw (\(Executive Director\))Tj 7.65 0 0 8.5 42.495 263.81 Tm 0.0378 Tc 0.0318 Tw [(Mr)49.4(. SUEN Ki)]TJ 7.65 0 1.6261 8.5 212.655 263.81 Tm 0.0382 Tc 0.0418 Tw (\(Non-executive Director\))Tj 7.65 0 0 8.5 42.495 251.81 Tm 0.038 Tc 0.0332 Tw [(Dr)64.3(. 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