locations. Buyer wishes to acquire such franchise business from the Seller, and has thus entered into the Assets Sale and Purchase Agreement with the Seller on October 11, 2018 (the “Signing Date”), with the
asset to generate revenue and it is only a place to run a business, which the Company can change to other locations. Also, the Company’s main income-generating asset is personnel. The Company is currently
operating lease in prominent locations, (ii) boost growth of rental revenue together with increase in efficiency in operating business, (iii) development of high potential properties with innovative and
sale transaction for ordinary shares in Prime Locations Management 3 Limited (the "Joint Venture Company"), a wholly owned subsidiary of SHR SC, of 4,000,000 ordinary shares (representing 50% of the
time, KBank continued to consolidate branches to reduce redundancy, especially those with relatively low traffic. In the third quarter, KBank introduced Happy Loan Center at two locations, which is a new
locations Catering / Pop-up 3 1 Franchise Fee Income 4 • Revenue recognition of initial franchise fee and franchise royalties from “After You” Hongkong and “Mikka” • *Actual franchise fee recognized in 2020
Company’s trademark or per customers’ demand • Catering services such as parties, wedding receptions, restaurants or any events • Pop-up store sales in various locations • Revenue recognition of initial
or per customers’ demand • Catering services such as parties, wedding receptions, restaurants or any events • Pop-up store sales in various locations • Revenue recognition of initial franchise fee from
trademark or per customers’ demand • Online sales products and Head office pick up • Catering services such as parties, wedding receptions, restaurants or any events • Pop-up store sales in various locations
’ demand • Online sales products and Head office pick up • Catering services such as parties, wedding receptions, restaurants or any events • Pop-up store sales in various locations • Revenue recognition of