PHIP

	Arrail Group Limited
	YOU SHOULD READ THE WARNING IN THE DOCUMENT.

►	Warning
►	Important
►	[REDACTED]
►	Contents
►	Summary
►	Definitions
►	Forward-Looking Statements
►	Risk Factors
►	Waivers from Strict Compliance with the Listing Rules
►	Information about this Document and the [REDACTED]
►	Directors and Parties Involved in the [REDACTED]
►	Corporate Information
►	Industry Overview
►	Regulatory Overview
►	History, Reorganization and Corporate Structure
►	Business
►	Contractual Arrangements
►	Directors and Senior Management
►	Relationship with Our Controlling Shareholders
►	Connected Transactions
►	Substantial Shareholders
►	[REDACTED]
►	Share Capital
►	Financial Information
►	Future Plans and Use of [REDACTED]
►	[REDACTED]
►	Structure and Conditions of the [REDACTED]
►	How to Apply for [REDACTED]
►	Appendix I Accountant's Report
►	Appendix II Unaudited Pro Forma Financial Information
►	Appendix III Summary of the Constitution of Our Company and the Company Laws of the Cayman Islands
►	Appendix IV Statutory and General Information
►	Appendix V Documents Delivered to the Registrar of Companies and Available for Inspection