Tianjin Jun Hua Logistics Company Limited, China

In December 2016, the Company had acquired 51% equity interests in Tianjin Jun Hua Logistics Company Limited (“Tianjin Jun Hua Logistics”).

Tianjin Jun Hua Logistics is principally engaged in the business of property rentals, development of a logistics base and operation of storage units. Tianjin Jun Hua Logistics owns a property with a land use area of 11,331.30 square metres, comprising of one building with one storey of 704.16 square metres and another building with four storeys of 10,807.91 square metres, which is being developed into a logistics base at Tianjin Economic and Technological Development Zone, Tianjin City, the PRC. The property is located in the Tianjin Harbour, which is one of the main transportation hubs of the PRC.