purchased to order; (f) receivables of margin loan and receivables of securities borrowing; (g) receivables of pledging account; (h) any other asset as stipulated by the Notification of the SEC Office. (4

to order; (f) receivables of margin loan and receivables of securities borrowing; (g) receivables of pledging account; (h) any other asset as stipulated by the Notification of the SEC Office. (4

loan and receivables of securities borrowing; (g) receivables of pledging account; (h) any other asset as stipulated by the Notification of the SEC Office. (4) “general liabilities” means total

and other financial instruments; (5) receivables of securities purchased to order; (6) margin loan receivables and securties borrowing receivables; (7) collateral receivables; (8) any other asset as

instruments; (5) receivables of securities purchased to order; (6) margin loan receivables and securties borrowing receivables; (7) collateral receivables; (8) any other asset as stipulted by the SEC Office. 2

instruments; (5) receivables of securities purchased to order; (6) margin loan receivables and securties borrowing receivables; (7) collateral receivables; (8) any other asset as stipulted by the SEC Office. 2

in revenue part above. However, the Group’s long-term loan was reduced both borrowing from related parties and from banks which payment term followed by due date of contract. At 31 December 2017, the

in revenue part above. However, the Group’s long-term loan was reduced both borrowing from related parties and from banks which payment term followed by due date of contract. At 31 December 2017, the

Purchase Agreement + Amount of loan repayment to existing borrowing from financial Institutions of the Target group Hotels and Resorts (if any) × 100 Total Assets of the Company = 11,073,055,000 ×100

the repayment of credit purchase of receivables. As of 31 December, 2016, 2017 and 2018, total borrowing decrease due to the repayment amount of maturing loans exceeds additional loan amount. Total