Yincheng Life Service Company Limited (Hong Kong SAR, China)

Yincheng Life Service Company Limited was established in September 2002 by Wang Jianchao and Li Ming. The company obtained its business registration license with the registration number 4401022001054 from the Guangzhou Administration for Industry and Commerce on September 9, 2002. In May 2016, the company underwent a transformation and became a joint-stock company. The net assets of the company, as of January 31, 2016, were valued at 55,720,177.62 yuan. Based on this valuation, the company issued 55 million shares with a face value of 1 yuan per share, with any excess net assets being allocated to the capital reserve of the joint-stock company. The shareholding proportions of the founders in the joint-stock company were determined according to their existing shareholding ratios. In January 2016, the company signed a contract with Qianjie Advertising for the transfer of 70% equity of Guangzhou Xuri Yinsai Advertising Co., Ltd. for a price of 35.1 million yuan. This transfer has been approved by the relevant authorities and completed the necessary registration procedures. According to the explanation provided by the actual controller of the company, there is no repurchase arrangement for the transferred equity of Xuri Yinsai in the future.