Your professional adviser

C100 M35 Y 25 K0

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About Ascent Partners

Ascent Partners is a leading provider of Independent Valuation, Corporate Advisory, Cost Management, Human Capital – Executive Search and Technology Advisory.

We partner with our clients to ensure that our tailored solutions align with their strategic vision to deliver stellar results. The firm’s vision is to build and grow long-term business relationships with our clients.

Our Commitment Ascent Partners’ commitment in providing independent, timely, professional advice and services gives our clients the information they need to effectively manage their business strategies and operations.

Our Services Valuation: Ascent Partners provides impartial and independent valuations of businesses, properties and financial instruments that meet stringent international standards and regulatory requirements. 02

Corporate Advisory: valuation and risk management system Our Corporate Advisory services and platform. range from Transaction Support, Risk Analysis, Initial Public Offerings (IPOs) The Big Picture to Mergers & Acquisitions (M&As). Our clients enjoy the benefit of leveraging on the many years of legal, financial and Cost Management: accounting experience of our multi- Our Cost Management Specialists focus disciplinary team. on helping clients to achieve maximum cost efficiencies within the short-to- Clients have the benefit of accessing medium-term. the wide connections and resources of our carefully cultivated network of Human Capital – Executive Search: professional and business contacts. This Our extensive network enables us is especially critical when they are in to place the best candidates for the the market for investors or looking for positions created as our client’s potential targets for acquisitions. companies grow. We do not provide advice in isolation. Technology Advisory: Our cross-functional team works together We provide full-service consulting to offer clients an integrated service that for our client’s IT needs. In addition, considers the big picture, orchestrating we work with financial and risk different processes and connecting parties, management software vendors as a establishing plans and monitoring the distributor and solution provider to help progress of each project to ensure timely customers establish their financial asset delivery and sustainable results. 03

Industry Expertise we took the opportunity to deepen our Our client base and industry expertise commitment to our clients. During cover the full range of industries this challenging period, we helped including, inter alia, the following: companies preserve their value and • Automobile improve their bottom line. • Banking • Construction We now offer services in Independent • Electronics Valuation, Corporate Advisory, • Finance Cost Management, Human Capital • Investment and property – Executive Search and Technology • Logistics Advisory. • Media and entertainment • Natural resources and energy We also worked with a number of • Retail operations universities in the fields of research • Technology and professional development, helping to establish a Master of Finance degree Our Expansion in Asset Valuation. Ascent Partners was founded in Hong Kong in 2008 focusing on independent Allied with the growth of our valuations. business, in 2012, we opened offices in Beijing, Shanghai, Shenzhen and Following the collapse of Lehman Singapore to support our headquarters Brothers and the global credit crunch, in Hong Kong. 04

Our Services

Valuation A transparent and consistent independent valuation is a critical tool for accounting, litigation, commercial or tax purposes and key management decisions.

At Ascent Partners, our practitioners draw from their extensive industrial, commercial and technical experience to deliver impartial valuations that meet international and regulatory requirements. We provide clients with comprehensive reports and certificates that explain the basis and methodologies of the valuation, clarifying assumptions, valuation considerations, title investigation and limiting conditions.

Our experience in advisory and transaction services enables us to anticipate and mitigate a variety of issues raised during and after the Financial Instrument Valuation valuation process. This value-added Ascent Partners provides independent information is shared with our clients valuations of financial instruments to help them effectively plan for and in line with established accounting achieve their goals. standards and regulatory requirements.

The key value Ascent Partners brings Our services range from fair value to our clients is that we manage the measurements of stock options, coordination of professional parties warrants and currency forwards to on behalf of the client across multiple more complex instruments such as jurisdictions to create the desired results. callable, puttable and convertible bonds, to more exotic structured 05

securities such as equity link Common approaches to business instruments etc. at initial recognition valuation include reviews of financial and subsequent revaluation. In statements, discounting cash flow models addition, we also provide hedge and similar company comparisons. accounting valuation. We have provided valuations to some Business Valuation of the region’s leading companies across We provide clients with assistance in the the automobile, biomedical, industrial, process of determining the economic manufacturing, property and technology value of a business or company. sectors. Business valuations encompass a wide array of fields and methods and we help Property Valuation our clients determine the fair value We provide clients with fair valuations of a business for a variety of reasons, of their property, plants, machinery, including sale value, establishing equipment and land parcels to comply partner ownership and M&As. with regulatory requirements of IPOs, audits, acquisitions or divestiture activities. Our valuations comply with international standards and follow industry best practice. 06

Corporate Advisory

Our corporate advisory services each project’s performance and progress, range from Transaction Support, working hand-in-hand with other parties to ensure issues are resolved Risk Analysis, IPOs to M&As. promptly and our client’s requirements are met. From our foundation as an independent valuations provider, we have developed Transaction Support a range of corporate advisory services At Ascent Partners, we draw from our that aim to help our clients grow and valuation and advisory experience to build value in their business. offer our clients end-to-end support across the spectrum of transaction We also help clients to project manage services. We provide clients with and facilitate a smooth end-to-end timely information for them to make service delivery. We not only help to knowledgeable and informed decisions establish strategies but also monitor for efficient and effective operations. 07

Some of our services include helping companies to plan for their exit strategies, develop financing arrangements and negotiate favorable financing terms.

Mergers & Acquisitions Ascent Partners advises companies looking to grow through acquisitions or realize the value of their business through a well-planned and timely exit. We work with our clients through the process, including collaborating and negotiating with other professionals (e.g. accountants, financial advisers and lawyers).

Based on our extensive network of professional and business contacts, Ascent Partners is also well positioned to help companies seeking to divest or Risk Analysis acquire a business. We help to identify, Ascent Partners offers risk analysis to contact and screen prospective investors equip clients with reliable information or buyers, finding the right partner on risk so that they can make calculated for the transaction and ensuring our decisions. This data primarily helps clients receive the best value from their clients to quantify risk levels due to the business. inherent variability in financial and market conditions. We help clients review their business, perform independent valuations, Following this, Ascent Partners articulate their value and enter into continues to support clients by advising discussions with prospective parties on the potential implications of different while meeting an array of regulatory financing options. requirements.

The experience acquired through our valuation division also enables us to assess and establish appropriate equity structures, pricing and financial arrangements. 08

Cost Management

Our Cost Management Specialists We help clients realize the maximum focus on helping clients to achieve value from their suppliers while minimizing overheads such as maximum cost efficiencies within advertising, packaging and storage. We the short-to-medium-term. offer an ongoing monitoring service to help clients ensure that reductions The team draws from our valuation are maintained, freeing clients to focus experience to systematically analyze on running their core business. This overheads, business expenditure and improves the client’s bottom line with other records to identify and release little to no financial risk. potential savings from existing cost structure. This approach has delivered Our clients operate across a wide range savings of between 10% and 60% for our of industries from banking to consumer clients. goods, to insurance, printing and transportation amongst others. 09

Human Capital – Executive Search

Our extensive network enables us to place the best candidates for the positions created as our client’s companies grow.

We understand the importance of effective networks. We facilitate best matches between employers and the vast talent pool, enabling our clients to effectively grow their business.

Leveraging the extensive network of our transaction, advisory and valuation teams, we have completed search assignments for some of the region’s leading investment banks, private equity funds and listed companies. 10

Technology Advisory 11

IT Consulting Our technology specialists are able We provide full-service IT to provide full-service support to our clients, from assessing IT needs consulting for our clients’ IT needs. to design and implementation of new systems or system upgrades. To help our clients realize the full value We are also able to provide sourcing of their IT assets, Ascent Partners and procurement services, project offers a range of services covering IT management as well as interfacing with alignment, architecture and strategy. vendors including post-release testing, From general office support to contingency planning and 24/7 IT establishing IT platforms, we are also support. able to ensure that existing systems meet complex auditing, financial reporting Financial Software Distribution and regulatory requirements. Ascent Partners is a distributor of FINCAD, a financial analytics A reliable, useful yet agile IT and derivatives risk management infrastructure is one of the most software. FINCAD provides corporate important advantages a business can and financial institutions with secure, providing a solid foundation for comprehensive pricing and risk day-to-day operations as well as a robust management solutions for derivatives platform to support future growth. and fixed income instruments. Together, we help to support your business. 12

Major Clients

1010 Printing Group Limited (1127:HK) Century Sunshine Group Holdings Limited (8276:HK) 21 Holdings Limited (1003:HK) CER Management Limited ABN AMRO Bank N.V. Changjiang Corporate Finance (HK) Limited Advanced Materials Enterprises Company Limited Charter Bonus Limited AEON Credit Service (Asia) Company Limited (0900:HK) Chemi-Con Material Logistics Ltd. AIA Hong Kong Chevalier International Holdings Limited (0025:HK) Alltronics Holdings Limited (0833:HK) China Agroforestry Low-Carbon Holdings Limited (1069:HK) Amax International Holdings Limited (0959:HK) China Bio-Med Regeneration Technology Limited (8158:HK) Ambiqtech Holdings (BVI) Limited China Daye Non-Ferrous Metals Mining Limited (0661:HK) AMCO United Holding Limited (0630:HK) China Enterprises Limited APAC Resources Limited (1104:HK) China Environmental Resources Group Limited (1130:HK) Apperience Corporation China Forestry Holdings Co., Ltd (0930:HK) Asahi (H.K.) Limited China HealthCare Holdings Limited (0673:HK) Asia Entertainment & Resources Limited (AERL:NASDAQ) China Innovation Holdings Limited Asia Global Holdings Limited China Innovation Investment Limited (1217:HK) Asia Maritime Pacific (Hong Kong) Limited China Innovationpay Group Limited (8083:HK) Asia Pacific Investment Partners China Investment Development Limited (0204:HK) Asia Plus Plus Limited China Jiuhao Health Industry Corporation Limited (0419:HK) Asian Citrus Holdings Limited (0073:HK) China Oriental Culture Group Limited (2371:HK) Asset Appraisal Limited China Properties Group Limited (1838:HK) AST Equipment (HK) Co Ltd China Qinfa Group Limited (0866:HK) ATMI AUSTAR Lifesciences Limited China Resources Gas Group Limited (1193:HK) AV Concept Holdings Limited (0595:HK) China Seven Star Holdings Limited (0245:HK) Bank of China (Hong Kong) Limited China Shanshui Cement Group Limited (0691:HK) Bank of Communications China Solar Energy Holdings Limited(0155:HK) Beijing Capital Land Limited (2868:HK) China Strategic Holdings Limited (0235:HK) Best Pharmaceutical Limited China Trends Holdings Limited (8171:HK) Besunyen Holdings Company Limited (0926:HK) China Xinhua News Network Company Limited Blue Cross Insurance China Yunnan Tin Minerals Group Company Limited Bonsai European Fashion Limited (0263:HK) Brightwood Management Limited Chinlink International Holdings Limited(0997:HK) Burwill Holdings Ltd (0024:HK) Chung Yuen Electrical Company Limited BYD Electronics (International) Company Limited (0285:HK) City University of Macau C Y Foundation Group Limited (1182:HK) Code Agriculture (Holdings) Limited (8153:HK) Cactus Garment Ltd COFCO Land Holdings Limited (0207:HK) Care Management Limited Corporate Icon Limited Castfast Properties Development Co., Ltd. Coslight Technology International Group Limited (1043:HK) Cathay International Holdings Limited (CTI:LON) Cosmo Reach Limited CBRE HK Limited Cosmos (Shanghai) Development Co., Ltd. CDC Software Investments Limited CSI Properties Limited (0497:HK) CECEP COSTIN New Materials Group Limited (2228:HK) CST Mining Group Limited (0985:HK) Ceneric (Holdings) Limited (0542:HK) Culturecom Holdings Limited (0343:HK) Century Ginwa Retail Holdings Limited (0162:HK) Daiwa Associate Holdings Limited (1037:HK) 13

DeTeam Company Limited (0065:HK) Hong Kong SEI-Futong Holding Ltd Dong Feng Motor Group Company Limited (0489:HK) Hong Kong Standard & Testing Ctr. Dragon Crown Investments Ltd Hong Kong Television Network Ltd.(1137:HK) Dreamcity Properties Limited Hua Ying Management Company Limited DX.com Holdings Limited (8086:HK) Hung Fook Tong Holdings Eastern Era Investments Limited Huscoke Resources Holdings Limited (0704:HK) Eastern Holdings Ltd. (5KU) I.T Limited (0999:HK) Edelman Icicle Group EFG Bank AG ICube Technology Holdings Limited (0139:HK) eForce Holdings Limited (0943:HK) Industrial and Commercial Bank of China (Asia) Limited EPI (Holdings) Limited (0689:HK) Inno-Tech Holdings Limited (8202:HK) Eternal Express Limited Interchina Holdings Company Limited (0202:HK) Eventic Limited iOne Holdings Limited (0982:HK) Eyang Holdings (Group) Company Limited (0117:HK) ITC Properties Group Limited (0199:HK) Fairson Holdings Limited (8132:HK) Jackel Porter Company Limited Famous Benefit Limited Jiahua Store Holdings Limited (0602:HK) Far East Consortium International Limited (0035:HK) Jinheng Automotive Safety Technology Holdings Limited Far East Petroleum Co., Ltd. (0872:HK) Finet Group Limited (8317:HK) Join Merit Media Holdings Limited Fountain Set (Holdings) Limited (0420:HK) Ju Teng International Holdings Limited (3336:HK) Fubon Bank (Hong Kong) Limited Jun Yang Solar Power Investments Limited (0397:HK) Futong Technology Development Holdings Limited (0465:HK) Kam Hing International Holdings Limited (2307:HK) Geely Automobile Holdings Limited (0175:HK) Karrie International Holdings Limited (1050:HK) Genting Hong Kong Limited (0678:HK) Kei Lock Fashion Ltd Global Bio-chem Technology Group Company Limited Kingmaker Footwear Holdings Limited (1170:HK) (0809:HK) Kiu Hung Energy Holdings Limited (0381:HK) GP Batteries Ko Yo Chemical (Group) Limited (0827:HK) Grant Thornton Hong Kong Limited Kowloon Biotechnology Limited Great China Media Holdings Limited KPMG Greentown China Holdings Limited (3900:HK) Kwoon Chung Bus Holdings Limited (0306:HK) G-Resources Group Limited (1051:HK) Labixiaoxin Snacks Group Limited (1262:HK) G-Vision International (Holdings) Limited (0657:HK) Lansen Pharmaceutical Holdings Limited (0503:HK) Haitong International Management Services Company Limited LCH (Asia-Pacific) Surveyors Limited Hanny Holdings Limited (0275:HK) Le Beaumont Language Centre Hao Wen Holdings Limited (8019:HK) Le Saunda Holdings Limited (0738:HK) Harvest Well International Limited Lee Kee Holdings Limited (0637:HK) Heineken Lee’s Pharmaceutical Holdings Limited(0950:HK) Hing Wah Holdings (Hong Kong) Ltd. Lighthouse Technologies Limited Hoe Hin Pak Fah Yeow Manufactory Limited Linkz Industries Limited Hong Kong Adventist College Longlife Group Holdings Limited (8037:HK) Hong Kong Broadband Network Ltd L’sea Resources International Holdings Limited (0195:HK) Hong Kong Health Check and Medical Diagnostic Group Lucky Sharp Limited Limited M Dream Inworld Limited (8100:HK) Hong Kong Polymer Science Limited Madex International (Holdings) Limited (0231:HK) 14

MASTV (HK) Advertising Limited Sheng Yuan Holdings Limited (0851:HK) Mayer Brown JSM Shenzhen Neptunus Interlong Bio-Technique Company Mayer Holdings Limited (1116:HK) Limited (8329:HK) Mexan Limited (0022:HK) Shining Capital Management Limited Mingyuan Medicare Development Company Limited Shun Fat Underwear Manufactory Ltd (0233:HK) Silver General Investment Limited Minmetals Land Limited (0230:HK) Sino State Development Limited MMG Limited (1208:HK) Sinocop Resources (Holdings) Limited (0476:HK) Mongolia Energy Corporation Limited (0276:HK) Sinofu Group Inc. Nam Wah Precision Group Skyfame Realty (Holdings) Limited (0059:HK) NanYang Commercial Bank Sonopress Pan Asia Limited National Investments Fund Limited (1227:HK) Sony International (Hong Kong) Ltd Natural Dairy (NZ) Holdings Limited (0462:HK) Sound Global Ltd.(0967:HK) Neptune Group Limited (0070:HK) South China Forestry Development Limited Netel Technology (Holdings) Limited (8256:HK) South Sea Petroleum Holdings Limited(0076:HK) Neural Technologies International Limited Star Mobile DNA Payment Gateway Limited New Era Group (China) Limited Stella International Holdings Limited (1836:HK) New Ray Medicine International Holding Limited (8180:HK) Strong Ford Investment New Times Energy Corporation Limited (0166:HK) Suga International Holdings Limited (0912:HK) New World First Bus Services Limited Sun Century Group Limited (1383:HK) Nexia Charles Mar Fan & Co CPA Limited Sun East Group Limited Next Media Animation Limited Sun Lee Laan Wholesale Food Limited Next Media Limited (0282:HK) Sunhing Optical Manufactory Ltd North Mining Shares Company Limited (0433:HK) Sunrise (China) Technology Group Limited (8226:HK) Oldham, Li & Nie Lawyers Sustainable Forest Holdings Limited (0723:HK) Onland Development Limited Tai Fung Coach Co. Limited Opes Asia Development Limited (0810:HK) Tam Wing Kun Holdings Limited Optiled Lighting International Limited Tao Heung Holdings Ltd OrienTales Production House Limited The Coca Cola Company Pacific Logic Limited The Prudential Assurance Company Limited Pan Asia Environmental Protection Group Limited (0556:HK) The Refined Industry Company Limited Pan Asia Mining Limited (8173:HK) Tiande Chemical Holdings Limited (0609:HK) Park Mansions Tong Yong Kyowa Company Limited Peak Vision Appraisals Limited Top Success Enterprises Limited Perception Digital Holdings Limited (1822:HK) Town Health International Investments Limited (3886:HK) PetroAsian Energy Holdings Limited (0850:HK) Trans-Island Limousine Service Limited Ping Shan Tea Group Limited (0364:HK) Tse Sui Luen Jewellery (International) Limited (0417:HK) Poly Richest International Limited TSL Jewellery (H.K.) Co. Ltd. Polyard Petroleum International Group Ltd (8011:HK) TTG Fintech Limited Polymer Science (Shenzhen) New Materials Co., Ltd. Tsit Wing Coffee Company Limited PricewaterhouseCoopers Hong Kong Limited United Luminous International (Holdings) Limited Prime Creation Technology Ltd. ViaGold Capital Limited Professional Security Services Limited Victory Group Limited (1139:HK) Prosperity Investment Holdings Limited (0310:HK) Vision Values Holdings Limited (0862:HK) Publicitas Asia Holdings Limited Vital Glee Development Limited Qin Jia Yuan Media Services Company Limited(2366:HK) Vitasoy International Holdings Limited (0345:HK) RC Asia Pacific Limited Viva China Holdings Ltd. (8032:HK) Redcats Voltex Asia Capital Limited Reyoung Pharmaceutical Holdings Ltd. Wah Tat Industrial Limited Richfield Group Holdings Ltd (0183:HK) Waxman Oriental Group Richfield Realty Limited Well Way Group Limited (8063:HK) Royal Elastics Holding Limited Wing Lee Holdings Limited (0876:HK) SCM & HUB Limited Winparf Asia Co. Limited SCMP Group Limited (0583:HK) Wintown Star Wealth Management (HK) Limited SCUD Group Limited (1399:HK) Woolworths Seamless Green China (Holdings) Limited (8150:HK) Wuling Motors Holdings Limited (0305:HK) SEEC Media Group Limited (0205:HK) Yan Hing Engineering Works Limited Yanchang Petroleum International Limited (0346:HK) 15

Testimonials

“It is a pleasure to work with Ascent Partners. They deliver fast, professional and high quality results.” – Ms Claris Tam, LexisNexis

“Ascent Partners was engaged to help with our cost management efforts. However, the breadth and depth of their insight proved invaluable to our operation teams. They really understand our management style, our business and challenges at a micro and macro level.” – Dr Ricky Szeto, Executive Director, Hung Fook Tong

“We initially asked Ascent Partners to advise us on our financing arrangements, but we were so impressed by their contribution and analysis that we enlisted them to help across all areas of the transaction. They went above and beyond, providing outstanding service, working seamlessly with other parties and anchoring us with their incredible support at a stressful time. They did an excellent job.” – Ms Esther Hui, Former Shareholder, Hui Lau Shan

“Over the past five years, Ascent Partners has maintained a good and cooperative relationship with China Yixing Industrial Park and the Yixing Municipal Government. Ascent Partners has contributed a great deal to our city’s open economy by referring foreign businesses, introducing new projects, handling equity financing and helping corporations to become listed companies. We will certainly recommend Ascent Partners to other companies.” – Mr Zhou Ming Xin, Yixing Bureau of Commerce 16

“From Madagascar to Mauritius, Ascent Partners is our trusted service provider for valuation and beyond.” – Mr Elmen Wong, Executive Director, Kam Hing International Holdings

“Ascent Partners took the time to learn what we do and was therefore the best value for our operation. Their professional, practical, and transparent working style made the experience both efficient and pleasant for all parties.” – Mr Neal Chu, Henderson Land

“It has been a pleasure working with Ascent Partners over the past few years. The team is always professional and helpful. They are truly a ‘partner’ and I will not hesitate to recommend them to anyone needing independent valuation service.” – Mr Kenny Yeung, CFO, SCUD Group Limited

“Ascent Partners was engaged to ascertain the fair value of our share options. In addition to their professionalism, their expertise exceeded our expectations and they created value by addressing concerns from different parties within a tight timeframe. We were impressed with Ascent Partners and the great support they showed us.” – Mr David Cheung, Company Secretary & Financial Controller, Geely Automobile Holdings Limited

“Engaging Ascent Partners to obtain an objective valuation opinion has been a real pleasure. Their work is professional, efficient and cost-effective, and the team is knowledgeable, enthusiastic and great to work with. We have no reservations recommending Ascent Partners to other companies.” – Mr Andy Chan, Company Secretary & Financial Controller, Kwoon Chung Bus Holdings Limited

“Ascent Partners offers a quick and easy way to obtain advice and the team is readily available to answer questions. We are satisfied with their pleasant and professional service.” – Ms Karen Tsui, Accounting & Finance Department Manager, Sony International (Hong Kong)

“Ascent Partners provides comprehensive and professional IT services. Their engineers are friendly and knowledgeable.” – Ms Mavis Lam, Administration Manager, National United Resources Holdings Limited

“They understand our business needs and always give us peace of mind.” – Mr Alan Chui, Director, Sinoway Carbon Energy Holdings Limited Contact Us Hong Kong: 21/F Hong Kong Trade Centre Shenzhen: 161-167 Des Voeux Road Central Room 3555, 35/F Panglin Plaza Hong Kong 2002 Jiabin Road, Luohu District Telephone : 852 3679 3890 Shenzhen, China, 518001 Email : [email protected] Telephone : 86 4001 203 007 Email : [email protected] Beijing: 12/F Excel Centre Singapore: No. 6 Wudinghou Street #05-11, 5/F The Quadrant at Cecil Xicheng District 19 Cecil Street, Singapore 049704 Beijing, China, 100033 Telephone : 65 6637 8924 Telephone : 86 4001 203 007 Email : [email protected] Email : [email protected] Website : www.ascent-partners.com Shanghai: Room 2306, Jing An China Building No 1701 West Beijing Road Jing An District Shanghai (Postal Code:200040) Telephone : 86 4001 203 007 Email : [email protected]