e-KONG Group Limited

e-KONG Group Limited

Richard John Siemens
Kuldeep Saran
William Bruce Hicks
Matthew Brian Rosenberg
Conyers Dill & Pearman
FirstService BankNational Penn Bank
Clarendon House
2 Church Street
Hamilton HM11
Bermuda
89
3805
+852 2296 9700
+852 3101 0194
524
EKONY
CUSIP 26856N109
www.e-kong.com
Butterfield Fund Services (Bermuda) Limited
Rosebank Centre
11 Bermudiana Road
Pembroke
Bermuda
56
The Bank of New York
American Depositary Receipts
101 Barclay Street, 22nd Floor
New York, NY 10286
USA
1
2
4
5
7
8
15
20
44
46
48
14

e -KONG GROUP LIMITED
• ZONE 264,997 177,464 +49%
• ZONE 133,131 121,079 +10%
4,415 18,203 -76%
402,543 316,746 +27%
167,415 89,760 +87%
EBITDA 23,804 (109,084)
(19,756) (186,274)
22,776 3,018 +655%
400,000
316,746
402,543
200,000 40%
167,415
263,896
200,000
100,000
89,760
20%
49,858
0
2001 2002 2003
0
2001 2002 2003
0%
ZONE ZONE
EBITDA
0
2001 2002
23,804
2003
0
2001 2002
2003
(19,756)
(100,000)
(186,274)
(109,084)
(400,000)
(200,000)
(218,160)
(681,315)
(800,000)
e-KONG :
524The Bank of New York : EKONY
ZONE
1

2
e -KONG GROUP LIMITED
ZONE
EBITDA
ZONE
ZONE
IP
VoIP
ZONE
ZONE
ZONE
IP
CEPA
WTO
ZONE
NGN
IPIP
IP
3G
2G
IP
e -KONG GROUP LIMITED

IP
Richard John Siemens
3

e -KONG GROUP LIMITED
EBITDA
27.1%
23.0%23,800,000
EBITDA
ZONE
ZONE
ZONE
ZONE
frame
relay
IPZONE
ZONE
ZONE
ZONE
IP
ZONE
ZONE
ZONE
150.0
100.0
50.0
ZONE*
110.6 121.1
133.1
ZONE
0
2001 2002 2003
300.0
265.0
177.5
200.0
113.6
100.0
0
2001 2002 2003
ZONE
ZONEIDD
ZONE
IP
* ZONE ZONE
ZONE
ZONE
EBITDA
IP
4

5
27.1%
402,500,000316,700,000
249,100,000
191,800,000
249.1
122.4
306.8
107.6
2001
400.0
300.0
200.0
100.0
0
2002 2003
191.8
90.5
27.1%
202,200,000147,400,000
107,600,000
90,500,000
EBITDA109,100,000
132,900,00023,800,000
ZONE
33.4%398,100,000
298,500,000
ZONE
177,500,00049.3%
265,000,000
ZONEEBITDA
ZONE
EBITDAZONE
65.8%
56.0%
e -KONG GROUP LIMITED
ZONEZONE
121,100,000
9.9%133,100,000
89,800,000
86.5%167,400,000
28.3%
41.6%
21,100,000
156,000,000
186,300,00019,800,000
176,600,000
196,400,000
470,894,200
0.38
3,000,000
22,800,000
81,200,000
58,600,000
30,900,000
31,100,000
7,700,000
3,300,000
600,000
7,400,000
ZONE
33.1%
1.1%
ZONE
65.8%

e -KONG GROUP LIMITED
3.8%
0.3%
6

e -KONG GROUP LIMITED
Richard John Siemens59
Siemens
Distacom
Communications Limited
SUNDAY Communications Limited
Siemens
Siemens
Siemens
Orange
Kuldeep Saran52
Saran
Distacom Communications Limited
SUNDAY Communications Limited
SaranDistacom
Saran
Saran
44
William Bruce Hicks42
SUNDAY Communications Limited
Hicks
SUNDAYDistacom Communications
LimitedHicks
Distacom
Motorola Inc.
Hicks
49
Phillips & Vineberg
Matthew Brian Rosenberg32
RosenbergForgent Networks
University of Amherst
7

e -KONG GROUP LIMITED
ZONE
ZONE
ZONE
Telecom, Inc.ZONE
ZONE
ZoneCMS (www.ZoneCMS.com) ZoneLD
(www.ZoneLD.com)
ZONE
ZONE
frame relay
IP
ZONE Limited
(ZONE1511)
(www.zone1511.com)
ZONE 1511
IDD
ZONE1511
IDDZONE1511
ZONE1511IP
ZONE
Telecom Pte Ltd
ZONE
(www.zone1511.com.sg)
12
25
15
4445
5.2%
1.4%
62.2%
28.6%
8

5%
11
20
91.67%
Richard John Siemens
Kuldeep Saran
Derrick Francis Bulawa
William Bruce Hicks
*
Matthew Brian Rosenberg *
*
Kuldeep Saran
7
87
Matthew Brian Rosenberg
9

10
e -KONG GROUP LIMITED
100%
XV
352

0.01
Richard John Siemens 100,631,627 100,631,627 21.4%
1
William Bruce Hicks 2,319,914 67,962,428 70,282,342 14.9%
2
Kuldeep Saran 341,200 67,632,428 67,973,628 14.4%
3
10,000 10,000 0.0%
1. 2,400,000Richard John SiemensSiemens Enterprises Limited98,231,627Siemens
Goldstone Trading Limited
2. 67,962,428William Bruce HicksGreat Wall Holdings Limited
3. 67,632,428Kuldeep SaranFuture (Holdings) Limited
XV
352
18
XV
11

e -KONG GROUP LIMITED
336
Goldstone Trading Limited 98,231,627* 20.9%
Great Wall Holdings Limited 67,962,428* 14.4%
Future (Holdings) Limited 67,632,428* 14.4%
* Richard John SiemensGoldstone Trading LimitedWilliam
Bruce HicksKuldeep Saran
336
18
19
12
34,177,00038,795,000
2
186214
12

Mazars
13

e -KONG GROUP LIMITED
Moores Rowland Mazars
e-Kong Group Limited
1543
A member of
Moores Rowland International
an association of independent
accounting firms throughout
the world
14

e -KONG GROUP LIMITED
3 402,543 316,746
(235,128) (226,986)
167,415 89,760
3 107 313
3,142 3,039
(23,149) (25,428)
(5,106) (6,853)
(112,689) (139,661)
(50,851) (77,176)
(21,131) (156,006)
5 (157) (1,080)
4 532 –
– (27,982)
– (3,117)
– 1,911
5 (20,756) (186,274)
7 1,000 –
8 20 (19,756) (186,274)
9 (0.04) (0.74)
EBITDA 10 23,804 (109,084)
15

e -KONG GROUP LIMITED
11 149,698 190,730
13 3,452 3,452
24 1,000 –
154,150 194,182
– 91
14 47,489 51,908
15 3,305 7,740
30,872 31,055
81,666 90,794
16 58,601 81,210
17 289 6,566
58,890 87,776
22,776 3,018
176,926 197,200
17 312 830
176,614 196,370
18 4,709 4,709
20 171,905 191,661
176,614 196,370
Richard John Siemens
Kuldeep Saran
16

e -KONG GROUP LIMITED
11 214 539
12 167,120 184,564
167,334 185,103
14 1,220 2,168
15 2,110 3,045
12,163 16,336
15,493 21,549
16 3,320 10,094
12,173 11,455
179,507 196,558
18 4,709 4,709
20 174,798 191,849
179,507 196,558
Richard John Siemens
Kuldeep Saran
17

e -KONG GROUP LIMITED
103,665 1,187,241 (7) 6 – (933,595) 357,310
(9,680) – – – – – (9,680)
194 9,486 – – – – 9,680
0.02
0.0005 (91,824) – – 91,824 – – –
– (1,196,239) – (91,824) 607,462 680,601 –
2,354 25,899 – – – – 28,253
– (2,926) – – – – (2,926)
– – 7 – – – 7
– – – – – (186,274) (186,274)
4,709 23,461 – 6 607,462 (439,268) 196,370
– – – – – (19,756) (19,756)
4,709 23,461 – 6 607,462 (459,024) 176,614
18

e -KONG GROUP LIMITED
21 4,918 (101,945)
107 313
(157) (1,080)
4,868 (102,712)
(6,039) (24,777)
1,165 713
104 30,664
– (15)
22 2,079 –
(2,691) 6,585
– 25,327
(6,795) (8,861)
(6,795) 16,466
(4,618) (79,661)
38,795 118,456
34,177 38,795
3,305 7,740
30,872 31,055
34,177 38,795
19

e -KONG GROUP LIMITED
1.
2.
20% - 33%
20% - 33%
20

2.
21

e -KONG GROUP LIMITED
2.
12
5%
1,000
1,000
100%
100%
3.
398,128 298,543
4,415 18,203
402,543 316,746
107 313
402,650 317,059
22

4.
1,500,000
532,0001,500,000
– 11,420
– (22,990)
– (11,570)
– –
– (11,570)
– (9,304)
– 17
– 7,717
– (1,570)
– 2,849
– (41,065)
– (38,216)
23

e -KONG GROUP LIMITED
5.
(a)
157 1,080
(b)
1,214 1,061
3,901 6,266
235,128 226,986
44,403 46,922
(13) 13,865
(2) 1,630
– 210
1,544 2,619
(1,245) –
269 1,238
87,540 104,600
2,918 2,983
24

6.
161
200 200
8,103 6,842
72 70
8,375 7,112
200,000200,000
1,000,000 3 3
1,500,001 - 2,000,000 3 3
2,000,001 - 2,500,000 – 1
3,000,001 - 3,500,000 1 –
7 7
3,493 3,486
40 5
356 –
3,889 3,491
1,500,001 - 2,000,000 1 2
2,000,001 - 2,500,000 1 –
2 2
25

e -KONG GROUP LIMITED
7.
467 –
(1,467) –
(1,000) –
% %
(18) (18)
15 7
27 10
(20) –
5 –
(4) 1
5 –
8.
17,051,000439,080,000
9.
19,756,000
186,274,000470,894,200252,549,887
10. EBITDA
EBITDA
26

11.
247,859 733 23,964 272,556
5,335 31 673 6,039
(39,069) (25) (6,069) (45,163)
214,125 739 18,568 233,432
68,161 186 13,479 81,826
39,425 334 4,644 44,403
(38,418) (13) (4,064) (42,495)
69,168 507 14,059 83,734
144,957 232 4,509 149,698
179,698 547 10,485 190,730
699,0005,537,000
1,932
65
1,997
1,393
390
1,783
214
539
27

e -KONG GROUP LIMITED
12.
7,800 7,855
790,553 901,509
(631,233) (724,800)
167,120 184,564
China Portal Limited 1 – 100%
Cyber Insurance Brokers 5,000,000 – 70%
Limited
Cyberman Limited 1 – 100%
E-Force Global Limited 1,000 – 100%
2 – 100%
e-Kong Pillars Holdings 1 100% –
Limited
e-Kong Pillars Limited 1 – 100%
Global Zone Limited 1 – 100%
28

12.
speedinsure.com Limited 10,000 – 70%
speedinsure Global Limited 10,000 – 70%
Zone Asia Limited 2 – 100%
ZONE Channel Services 2 – 100%
Limited
ZONE Global Limited 1 – 100%
ZONE Limited 2 – 100%
ZONE Telecom, Inc. 10 – 100%
ZONE Telecom Pte Ltd 100,000 – 100%
ZONE USA, Inc. 10 – 100%
29

e -KONG GROUP LIMITED
13.
3,452 3,452
14.
39,840 44,976 – –
7,649 6,932 1,220 2,168
47,489 51,908 1,220 2,168
3090
39,040 43,402
13 775 432
312 25 1,142
39,840 44,976
30

15.
3,305,0007,740,0002,110,000
3,045,000
16.
24,218 45,067 – –
34,383 36,143 2,066 5,492
– – 1,254 4,602
58,601 81,210 3,320 10,094
18,832 25,300
13 3,167 7,877
312 2,219 11,890
24,218 45,067
31

e -KONG GROUP LIMITED
17.
326 6,744 289 6,566
326 900 312 830
652 7,644 601 7,396
(51) (248) – –
601 7,396 601 7,396
18.
1 288,929,402 288,929 288,929,402 288,929
0.01
0.02 12,000,000,000 120,000 6,000,000,000 120,000
– – 6,000,000,000 –
0.01 12,000,000,000 120,000 12,000,000,000 120,000
408,929 408,929
32

18.
1 – – 9,680,000 9,680
– – (9,680,000) (9,680)
1 – – – –
0.01
0.02 470,894,200 4,709 4,699,262,008 93,985
– – 9,680,000 194
0.02
0.0005 – – – (91,824)
– – (4,473,494,908) –
– – 235,447,100 2,354
0.01 470,894,200 4,709 470,894,200 4,709
4,709 4,709
19.
17
(i)
(ii)
33

e -KONG GROUP LIMITED
19.
17
i
ii
(i)
(i)
(ii)
(ii)
10%
13,841,611
2.9%
12
1%
(iii)
10
28
1.00
34

19.
(iv)
(i)
(ii)(iii)
(v)
10
1.40 1,365,000 (300,000) 1,065,000
1.60 7,500 – 7,500
2.00 370,000 – 370,000
2.30 300,000 – 300,000
2.30 600,000 (150,000) 450,000
2.30 200,000 (50,000) 150,000
7.60 1,520,000 (380,000) 1,140,000
7.60 315,000 (300,000) 15,000
3.30 491,500 (15,000) 476,500
2.30 55,000 (25,000) 30,000
1.20 40,000 (10,000) 30,000
0.80 20,000 (20,000) –
5,284,000 (1,250,000) 4,034,000
35

e -KONG GROUP LIMITED
20.
1,187,241 (7) 6 – (933,595) 253,645
9,486 – – – – 9,486
0.02
0.0005 – – 91,824 – – 91,824
(1,196,239) – (91,824) 607,462 680,601 –
25,899 – – – – 25,899
(2,926) – – – – (2,926)
– 7 – – – 7
– – – – (186,274) (186,274)
23,461 – 6 607,462 (439,268) 191,661
– – – – (19,756) (19,756)
23,461 – 6 607,462 (459,024) 171,905
1,187,241 – 6 – (680,601) 506,646
9,486 – – – – 9,486
0.02
0.0005 – – 91,824 – – 91,824
(1,196,239) – (91,824) 607,462 680,601 –
25,899 – – – – 25,899
(2,926) – – – – (2,926)
– – – – (439,080) (439,080)
23,461 – 6 607,462 (439,080) 191,849
– – – – (17,051) (17,051)
23,461 – 6 607,462 (456,131) 174,798
36

20.
1981
(i)
(ii)
607,462 607,462
(456,131) (439,080)
151,331 168,382
21.
(20,756) (186,274)
(107) (313)
157 1,080
44,403 46,922
(2) 1,630
– 210
(1,245) –
– 3,117
– 27,982
(13) 13,865
– (1,911)
3,901 6,266
269 1,238
– 6,764
(1,117) (5,182)
(20,572) (17,346)
– 7
4,918 (101,945)
37

e -KONG GROUP LIMITED
22.
1,505 –
1,366 –
306 –
(2,037) –
1,140 –
15 –
1,245 –
2,400 –
2,400 –
(306) –
(15) –
2,079 –
23.
8,548 6,925 833 –
6,243 3,717 740 –
14,791 10,642 1,573 –
38

24.
(467) –
1,467 –
1,000 –
1,000,000
125,215 129,528
2,157 1,622
9 7
127,381 131,157
39

e -KONG GROUP LIMITED
25.
(a)
398,128 4,415 402,543
(4,790) (1,776) (6,566)
(157)
532
(14,565)
(20,756)
1,000
(19,756)
5,974 2
42,538 1,477
4,173 –
215,849 547 216,396
19,420
235,816
56,782 354 57,136
2,066
59,202
40

25.
298,543 18,203 316,746
(103,493) (21,359) (124,852)
(1,080)
(31,154)
(27,982)
(3,117)
1,911
(186,274)
24,652 125
43,039 3,322
7,804 898
254,432 6,560 (77) 260,915
24,061
284,976
79,562 4,570 (77) 84,055
4,551
88,606
41

e -KONG GROUP LIMITED
25.
(b)
264,997 137,546 402,543
(6,992) 426 (6,566)
(157)
532
(14,565)
(20,756)
1,000
(19,756)
181,356 35,040 216,396
19,420
235,816
2,869 3,107
42

25.
177,464 139,282 316,746
(81,747) (43,105) (124,852)
(1,080)
(31,154)
(27,982)
(3,117)
1,911
(186,274)
215,412 45,503 260,915
24,061
284,976
22,520 2,257
26.
43

e -KONG GROUP LIMITED
402,543 316,746 263,896 100,125 45,245
(20,756) (188,185) (681,273) 5,105 (75,170)
– 1,911 (752) (1,110) –
(20,756) (186,274) (682,025) 3,995 (75,170)
1,000 – – (739) (739)
(19,756) (186,274) (682,025) 3,256 (75,909)
– – 710 (1,954) (2,499)
(19,756) (186,274) (681,315) 1,302 (78,408)
(0.04) (0.74) (6.75) 0.015 (1.92)
0.013
44

154,150 194,182 251,700 448,483 16,295
81,666 90,794 220,423 491,491 115,752
235,816 284,976 472,123 939,974 132,047
312 830 4,885 – –
58,890 87,776 109,928 98,239 14,346
59,202 88,606 114,813 98,239 14,346
176,614 196,370 357,310 841,735 117,701
– – – 119 12,441
176,614 196,370 357,310 841,616 105,260
45

e -KONG GROUP LIMITED
(i)
19
9,884,000
1,546,000
(ii)
3,117,000
46

(2,533) (19,756) (186,274)
198 1,546 –
(2,335) (18,210) (186,274)
(2,335) (18,210) (174,704)
– – (11,570)
(2,335) (18,210) (186,274)
(0.005) (0.04) (0.69)
– – (0.05)
22,643 176,614 196,370
(1,069) (8,338) (9,884)
1,069 8,338 9,884
22,643 176,614 196,370
47

e -KONG GROUP LIMITED
89
3805
Butterfield Fund Services
(Bermuda) Limited
Rosebank Centre
11 Bermudiana Road
Pembroke
Bermuda
56
The Bank of
New York 101 Barclay Street, 22nd
Floor, New York, NY 10286, USA.
89
3805
e-Kong Group Limited
+852 2296 9700
+852 3101 0194
ir@e-kong.net
The Bank of
New York 101 Barclay Street, 22nd Floor, New
York, NY 10286, USA www.adrbny.com
1-888-BNY-ADRS
56
2980 17662861 1465
Shareholders may also obtain this 2003 Annual
Report in the language other than that he/she has
received upon request to the Company’s Branch Share
Registrar in Hong Kong, Secretaries Limited at G/F,
Bank of East Asia Harbour View Centre, 56 Gloucester
Road, Wanchai, Hong Kong. For further enquiries,
please contact Secretaries Limited, the Company’s
Branch Share Registrar in Hong Kong, at telephone no.
2980 1766 or facsimile no. 2861 1465.
56
EKONY
48