Goldsun Building Materials co LTD

Company Presentation

JULY 10,2019 Content of report

Company in a Glance (P.2~3) Operations Review(P.4~18) Financial Report (P.19 ~ 20) Operational objectives(P.21) Q&A

P.1 Company in a Glance Corporate Profile

1984 Investment in Wellpool Co., Established premix plant in Ltd.(8424) Shareholding ratio 49%。 Suzhou from 2003 to 2005 2009 Investment in Taipei Port Important 2004 Investment in GoldSun Termianl Co., Ltd.and formal domestic Cement Fujian Plant. operation in 2016. investment Established Jinshun Shipping companies Company in 2012 Established Yuanshun Shipping Company in 2013 to establish Jinbaoshunhai Goldsun founded in 1954 Industry Company in 2018 (listed on TSE in 1978, ticker: At present, it has 6 special 2504), Capital of 13.85 gravel ships and imports 60- billion 。 100 million tons of sandstone every year. Corporate Profile

Domestic Important Decelopment Leading company for ready-mixed concrete investment In in Taiwan mainland There are 28 pre-mixing plants in Taiwan, China with a market share of about 17%. The Group's land assets are activated and innovated to create new businesses. P.2 Company in a Glance Relationship enterprise

GOLDSUN COMENT(FUJIAN) GOLDSUN (CHANGSHU) CONCRETE GOLDSUN CONCRETE(WUJIANG) TAIPEI PORT KUNSHAN GOLDSUN TERMINAL COMPANY CONCRETE JIN SHUN MARITIME GOLDSUN (SUZHOU) BUILDING LTD. MATERIALS YUAN SHUN MARITIME LTD. Overseas Development JING SHUN MARITIME LTD. mining business FENG SHUN MARITIME LTD. investment investment GIMPO MARINE CO., LTD. REI SHIN CONSTRUCTION CO., LTD

Domestic building materials business WELLPOOL CO., LTD. GOLDSUN NIHON CEMENT CO., LTD. GOLDSUN INNOVATIVE BUILDING MATERIALS CO., RAIXIN QUALITY PRODUCTS LTD. P.3 Operation Overview - Concrete Taiwan 's concrete market / Goldsun market share Unit : km3 45,000 17.5% 40,000 17.0% 35,000 16.5% 30,000 25,000 16.0%

20,000 15.5% 15,000 15.0% 10,000 14.5% 5,000 - 14.0% 2015 2016 2017 2018 2019Q2 Total market 40,574 34,634 35,536 39,734 18,724 Goldsun mkt share 6,264 5,807 6,132 6,588 3,183 Goldsun mkt share rate 15.4% 16.8% 17.3% 16.6% 17.0% Unit: thousand cubic meters P.4 Operation Overview - Concrete The kinetic energy that drives the growth of concrete demand

一、More than 100 billion projects for the forward-looking construction of the track plan are underway, especially in the southern region.

二、All the amendments of Renewal of Urban planning have been revised to ignite the 100 billion business opportunities in the third reading and the consensus on the old-age reconstruction forum is more consensus.

三、The Taiwanese returning capital industry has actually invested in setting up factories, and the six major science parks are also being expanded simultaneously. The demand for building materials will be greatly increased in real time.

四、"Material traceability management" and "Peace of mind building materials resume" have achieved synergy, and inventory orders are stable and sufficient. Indicator cases: Taipei Nanshan Square, Tao Zhuyin Park, and TSMC Nanke 18 Factory.

五、In the past two years, the floor area of building license General Building has gradually grown steadily. It has grown by 13.2% in 2018 and is expected to grow by 20% in the first half of 2019.

六、In the past two years, the "Construction Price Index - Ready-mixed Concrete" has reached 93.9 in the end of April 2018, and it has obviously climbed to the 116 in April 2019, indicating that demand has increased. The phenomenon of price cuts has improved and prices have stabilized.

P.5 Operation Overview - Concrete

P.6 Operation Overview - Concrete Taiwanese businessmen return to Taiwan to set up factory investment has increased significantly

Industrial storage building application for construction status (Project cost Unit: 100 million yuan)

P.7 The floor area of building license General Building

2,800,000 同期The same period 本期This period

2,600,000

2,400,000

2,200,000

2,000,000

1,800,000

1,600,000

1,400,000

1,200,000

1,000,000 2018/5月 6月 7月 8月 9月 10月 11月 12月 2019/1月 2月 3月 4月

2018 2018 2019 2019 Year/M 6 7 8 9 10 11 12 2 3 4 onth /5 Total /1 Total The 1,503,22 1,805,96 1,824,05 1,987,49 1,963,34 1,873,99 1,828,62 2,043,01 20,844,68 1,662,10 1,423,91 2,015,59 1,707,86 same 6,809,484 period 5 1 7 1 9 7 7 4 5 8 1 8 7 2,078,58 2,055,40 1,994,29 1,931,81 1,934,07 2,207,94 2,280,38 2,311,54 23,603,52 2,517,65 1,143,15 1,989,07 2,581,77 This 8,231,647 period 0 1 4 2 9 2 6 5 3 1 4 0 2

Differe nce 575,355 249,440 170,237 -55,679 -29,270 333,945 451,759 268,531 2,758,838 855,543 -280,757 -26,528 873,905 1,422,163

Differe nce rate 38.3% 13.8% 9.3% -2.8% -1.5% 17.8% 24.7% 13.1% 13.2% 51.5% -19.7% -1.3% 51.2% 20.9%

P.8 Operation Overview - Concrete Construction Engineering Price Index for the past two years - Ready-mixed concrete 120

115 116.0

113.8

110 111.5 110.0

105 107.1 105.1 103.7 100 101.3 99.2 98.5 95 96.8 95.6 95.4 95.2 95.1 94.8 94.7 94.7 94.5 94.5 94.3 94.1 93.8 93.9 90

2018 2017 2019/ 年/月 6 7 8 9 10 11 12 /01 2 3 4 5 6 7 8 9 10 11 12 2 3 4 /5 01

Price 111. 95.6 95.4 95.2 95.1 94.8 94.7 94.7 94.5 94.3 94.1 93.8 93.9 94.5 96.8 98.5 99.2 101.3 103.7 105.1 107.1 110.0 113.8 116.0 Index 5

Source: Republic of China Statistics Information Network P.9 Operation Overview - Suzhou Concrete

Goldsun Building Materials - Suzhou Business Office

Market overview report

P.10 Factory map Operation Overview - Suzhou Concrete

常熟

昆山

總部

吳中

吳江

P.11 Operation Overview - Suzhou Concrete Overview of concrete operation in Suzhou District

Project/year Unit 2016 2017 2018

Number of factories Plant 6 5 4

Sales volume M3 1,623,134 1,586,321 1,443,963

Sales Amount RMB thousand 411,523 524,322 630,074

Average unit price RMB 1 254 331 436 (untaxed)

Net profit after tax RMB thousand (6,363) 7,267 24,046

Note: Considering the forward-looking nature of future urban development in the region, the original six plants are now reduced to four plants without affecting the total sales volume in Suzhou.

P.12 Operation Overview - Suzhou Concrete Suzhou market analysis

•In 2019, the main market volume in Suzhou is in public, municipal engineering and large-scale factory projects. The municipal engineering currently has three GOLDSUN tunnels through the lake in Suzhou (Dushu Lake, Yinshan Lake, Jinji Lake), Taihu Avenue 5.4 km, Track 7 . The future campus of Suzhou University is located in Wujiang, covering an area of 1,000 mu. Both Wuzhong and Wujiang can be (SUZHOU) delivered. Recently, a number of factories have been settled in the Wusongjiang Industrial Zone, and several security housing projects and public supporting CONCRETE projects have been started. In 2019, Wuzhong Factory's orders were mainly for factories, commercial and residential buildings, security housing projects and public supporting projects (primary and primary schools, kindergartens, etc.).

•Wujiang Future Large Municipal Engineering Husu Lake High-speed Railway and Tongsu Jiayu Intercity Railway Suzhou South Station settled in Wuhu High-tech GOLDSUN Zone (an important comprehensive transportation hub), which can be a key project for Wujiang Plant. In addition to the existing Wujiang and Wuhu Economic (WUJIANG) Development Zones, the Wujiang Plant has been promoting the industrial parks by the local government since 18 years. It is already the most important development area of our company. The payment period is relatively short and the CONCRETE construction period is short. For the 2019 market forecast analysis, it is still necessary to actively develop residential buildings and plant projects.

P.13 Operation Overview - Suzhou Concrete

•The total market demand in Changshu in 2019 can reach more than 5 million square meters. GOLDSUN •The market volume is mainly based on the Southeast Development Zone, followed by the Shanghai-Tiantong High-speed Railway Station near the Third (CHANGSHU) Ring Road in Changshu City. Commercial and residential buildings in Changshu account for about 65% of the total, factories account for about 20% of the total, CONCRETE and municipal roads and pipelines account for about 15%.

•The total demand in Kunshan District in 2019 is estimated to be more than 8 KUNSHAU million square meters: •Kunshan currently has a number of large-scale municipal projects such as the S1 (Suzhou-Kunshan-Shanghai) subway 2.2 million square meters (about 1.2 million GOLDSUN square meters in 2019), and the 312 national highway elevated 1 million square meters (about 350,000 square meters in 2019). Due to the restrictions of the site and equipment, the Kunshan Plant is still dominated by commercial housing, CONCRETE commercial buildings and workshops, supplemented by road municipal engineering.

P.14 Operational Overview - Cement Overview of Cement Market in China

2013 - 2019Fixed assets investment Trillion % growing over the same period

80 30 19.6 19.6 60 20 40 10 8.1 7.2 5.9 6 10 20 43.7 50.2 55.2 59.6 63.2 67.3 71.3 0 0 2013 2014 2015 2016 2017 2018 2019

Fixed asset investment(trillion) Growing over the same period

1、 NATION：

1.1 The national fixed asset investment in 2019 is expected to be 71.3 trillion, which is expected to increase by 6% year-on-year.

1.2 Increase infrastructure investment, make up for the reduction of real estate investment, and reduce the impact of China-US trade war.

1.3 In 2019, the annual cement output is expected to decrease by 3.5% from last year, which is about 2.1 billion tons.

P.15 Operational Overview - Cement Key projects of Fujian Province

2、 Fujian Province：

2.1 In 2019, Fujian Province identified 1,565 key provincial projects with a total investment of 3.85 trillion yuan, an increase of 7% over the year of 2018.

2.2 Fujian's fixed asset investment has maintained a good development trend for three consecutive years. The growth rate in 2011 was 11.5%. The main indicators increased continuously and surpassed the national level and ranked fourth in the country. The central government clearly issued instructions to surpass Taiwan's development and forecast 2019. 10% investment growth rate

2.3 Under the drastic investment of key projects and fixed assets, although the total cement volume in the country was slightly reduced by 3% in 2018, Fujian Cement did not decrease in 2018, and the annual growth rate was 7.6% (87.8 million tons). Although it is facing a shrinking real estate in 2019. However, it is expected to exceed 90 million tons under the substantial investment in infrastructure construction.

2.4 The key projects of our company can be started: Fuxia High-speed Railway, Shuanglong High-speed Railway, Longlong High-speed Railway, Zhangye High-speed Railway, Longchuan Railway, Xiamen Metro Line (four under construction), Xiang'an Airport, Longyan Airport, Jingyong High-speed, Yuwu Expressway, Xiazhang Spring Ring Expressway, etc......

▲ Fuzhou-Xiamen-Zhangzhou High-speed Railway

P.16 Operational Overview - Cement

The annual passenger transportation volume will reach 29 ▲Fuzhou-Xiamen-Zhangzhou million passengers, and the cargo and mail transportation capacity will be 700,000-800,000 tons, which will become one High-speed Railway of the largest single terminal buildings in China.

▲Xiamen Metro has built a rest in ▲ Quanzhou Urban Rail Transit Two lines construction under construction P.17 Operational Overview - Cement

Quanzhou Section of Quanshayu City Union Xiang'an Airport Expressway Road

The Ssangyong High-speed Railway project has a total length of 192.443 kilometers, of which the Fujian section is about 98 kilometers long and completed construction in 2022. P.18 Financial Report Financial report Important financial information for the last three years Amount Unit: NT $ million Item / year 2017 2018 2019Q1

Revenue 16,414 18,645 4,312

Net Income of Goldsun(after tax ) 2,811 515 231

Earnings per share (NTD) 2.01 0.37 0.17

Paid-in capital 13,850 13,850 13,850

Total assets 34,706 35,709 36,286

Total liabilities 13,586 15,129 15,202

Total equity 21,120 20,580 21,084

P.19 Financial財務報告 Report Consolidated revenue distribution

2018 2019Q1 10% 9% 11% 15%

12% 61% 67% 15%

Amount Unit: million

TW RMC Suzhou RMC Fujian cement other Total 2018 11,329 2,868 2,800 1,648 18,645 2019Q1 2,899 503 473 437 4,312 P.20 Operational guidelines and objectives Operational guidelines

Establishing a call Vertical Integration center to listen to the To Boost Production voice of every Efficiency and customer and get Quality. their high support.

The Goldsun Safety Building Materials Providing the most Inspection to customized all eliminate sea sand in around service built the construction of on experience. homes.

Operational target: 20% marketshare of concrete. P.21 Disclaimer

This document is prepared and distributed to you solely for general information purpose. As we endeavor to ensure that the data contained is correct and complete, it is not guaranteed as a complete statement of financial results.

The information or the assumptions on which any forward-looking statements, forecasts and expectations in this document are based shall not be taken as having been fully verified, and, accordingly, no statement here should be taken as a representation.

The information and statements in this document do not constitute a recommendation, offer or solicitation to buy or sell securities financial instruments. Goldsun shall not be liable for any claims or losses arising indirectly or directly from the use of this communication.

P.22