of 2019 was equivalent to -16.47 times whereas 3.18 time of 2018. The deficit ratio came from the decrease of equity due to loss from operation since 2018 to 2019. Shareholders’ Equity As ended

earnings - Legal Reserved 26.0 26.0 - - Retained earnings - Unappropriated 3,366.0 3,005.7 360.3 12.0 Deficit from business combination (22.9) (22.9) - - Total equity 12,353.1 11,992.8 360.3 3.0 Statement of

- - Retained earnings - Appropriated - Legal reserve 45.2 45.2 - - Retained earnings - Unappropriated 4,631.7 4,309.0 322.7 7.5 Deficit from business combination (22.9) (22.9) - - Non-controlling interests 56.6

- Treasury shares reserve 268.0 268.0 - - Retained earnings - Unappropriated 5,297.2 5,022.2 275.0 5.5 Treasury shares (268.0) (268.0) - - Deficit from business combination (22.9) (22.9) - - Non-controlling

151.9 151.9 - - - Treasury shares 268.0 268.0 - - Retained earnings - Unappropriated 6,084.3 6,339.5 255.2 4.2% Treasury shares (268.0) (268.0) - - Deficit from business combination (22.9) (22.9) - - Non

35.74 Total liabilities 209.95 219.14 226.79 Shareholders’ equity Registered 10.00 86.00 86.00 Issued and fully paid-up 10.00 86.00 86.00 Retained earnings (deficit) 34.78 50.35 76.10 Total shareholders

Total liabilities 209.95 219.14 226.79 Shareholders’ equity Registered 10.00 86.00 86.00 Issued and fully paid-up 10.00 86.00 86.00 Retained earnings (deficit) 34.78 50.35 76.10 Total shareholders’ equity

32.18 40.88 35.74 Total liabilities 209.95 219.14 226.79 Shareholders’ equity Registered 10.00 86.00 86.00 Issued and fully paid-up 10.00 86.00 86.00 Retained earnings (deficit) 34.78 50.35 76.10 Total

) Property Development Business still facing with a challenge. However, the management team is well aware to expand business to enhance more revenues and margin. Thus, you have been informed for your

1,015.5 816.4 80.4 Deficit from business combination under common control (22.9) (22.9) - - Total equity 10,793.0 5,571.6 5,221.4 93.7 31 December Statement of Financial Position Change 3. Analysis of