results based on its audited consolidated financial statements ended 31 December 2018 as follows. Management’s Discussion and Analysis The following Management's Discussion and Analysis should be read in

results based on its audited consolidated financial statements which ended 31 December 2019 as follows: Management’s Discussion and Analysis The following Management's Discussion and Analysis should be read

existing clients; (3) take any other action in the manner that increases risk to the financial condition, the operation or the performance under the agreement with the clients, as prescribed by the SEC

increases risk to the financial condition, the operation or the performance under the agreement with the clients, as prescribed by the SEC Office. Clause 14 Where the intermediary fails to regain the

major customer in the future. Then, the Company had entered the agreement with those entity by set up the strict payment conditions. At the present, 10% of the program right fee has been collected and the

company to manage a fund; “Repurchase agreement” means a sale of securities or debt instruments with an agreement to repurchase such securities or debt instruments on the date specified in the agreement

a management company to manage a fund; “Repurchase agreement” means a sale of securities or debt instruments with an agreement to repurchase such securities or debt instruments on the date specified

fund; “Repurchase agreement” means a sale of securities or debt instruments with an agreement to repurchase such securities or debt instruments on the date specified in the agreement; “Office” means the

established under specific law other than the juristic persons under (h); (g) an international financial institution; (h) a governmental agency and a state enterprise under the law on budgetary procedures; (i

under specific law other than the juristic persons under (h); (g) an international financial institution; (h) a governmental agency and a state enterprise under the law on budgetary procedures; (i) the