Li Fung

LI & FUNG LIMITED

(Incorporated in Bermuda with limited liability)

Contents

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Corporate Information Business Profile Coordinated Global Network Key Financial Highlights Management Discussion & Analysis Chairman’s Statement Managing Director’s Report Corporate Governance Directors and Senior Management Information for Investors Report of the Directors Auditors’ Report Statement of Accounts Ten-Year Financial Summary

Corporate Information

Non-executive Directors

Victor FUNG Kwok King, Chairman Paul Edward SELWAY-SWIFT * Allan WONG Chi Yun * Franklin Warren McFARLAN * Makoto YASUDA * LAU Butt Farn Leslie BOYD (Steven Murray SMALL —

Executive Directors

William FUNG Kwok Lun, Managing Director Henry CHAN Danny LAU Sai Wing Annabella LEUNG Wai Ping Bruce Philip ROCKOWITZ

alternate to Mr Leslie BOYD)

* independent non-executive directors

Chief Compliance Officer

James SIU Kai Lau

Chief Financial Officer

Frank LEONG Kwok Yee

Company Secretary

Terry WAN Mei Chow

Legal Advisors

Johnson Stokes & Master 17th Floor, Prince’s Building, 10 Chater Road Hong Kong

Principal Bankers

The Hongkong and Shanghai Banking Corporation Limited Citibank, N.A.

Registered Office

Canon’s Court, 22 Victoria Street Hamilton HM12, Bermuda JP Morgan Chase Bank

Principal Place of Business

11th Floor, LiFung Tower 888 Cheung Sha Wan Road Kowloon, Hong Kong

Auditors

PricewaterhouseCoopers Certified Public Accountants 22nd Floor, Prince’s Building, Central, Hong Kong

Li & Fung Limited Annual Report 2003

2

Business Profile

Consumer Needs

Product Design

Product Development

Raw Material Sourcing Factory Sourcing

The Supply Chain

Manufacturing Control

Shipping Control Consumer Wholesaler Customs Clearance

Local Forwarding Consolidation

Forwarder Consolidation

Li & Fung Limited and its subsidiaries (“Li & Fung”) is a premier global trading group managing the supply chain for...