i

YIHAI INTERNATIONAL HOLDING LTD. 1579 (1) 2019 2020 (2) (3) 2018 8 8 6 2 206 80 83 183 17M 48 (www.yihchina.com) (www.hkexnews.hk) 2018 7 19

... 1... 6... 7... 7... 32... 34... 34... 35... 35... 37... 38... 74... 80 i

2013 10 18 2016 7 13 2017 9 18 2017 9 18 2016 6 24 2016 6 24 2017 9 18 2018 3 22 1

2018 8 8 (i) (ii) (iii) 2018 7 6 2

2018 7 6 6 (i) (ii) (iii) 2009 3 13 68% 32% 60% 3

2018 7 13 2016 6 30 571 0.00001 33.5% 50% 16% HAI DI LAO HOLDINGS PTE. LTD. 62.7% 29.7% 2018 7 6 4

2014 6 3 52.17% 24.65% 2018 7 6 62.70% 29.7% % 5

YIHAI INTERNATIONAL HOLDING LTD. 1579 P.O. Box 31119 Grand Pavilion Hibiscus Way 802 West Bay Road Grand Cayman KY1-1205 Cayman Islands 6 1 2 28 18 (1) 2019 2020 (2) (3) 6

(i) (ii) (iii) 80 83 A. (I) 2018 7 6 2019 2020 2018 7 6 2019 1 1 2020 12 31 2018 7 6 (1) (2) 7

2019 1 1 2020 12 31 (a) 30 (i) (ii) 0.5% 8

(b) (c) A (a) (i) (ii) (iii) (iv) 9

(b) (i) (ii) (c) (i) (ii) (a) (b) (c) 10

2017 12 31 2018 3 31 2018 12 31 2016 12 31 2017 12 31 2018 3 31 2018 12 31 579,921 891,638 265,010 1,526,000 17,625 13,596 2,993 30,000 99 260 13,700 597,546 905,333 268,263 1,569,700 2018 12 31 2020 12 31 2019 12 31 2020 12 31 2,269,600 3,462,700 45,000 65,000 23,300 39,600 2,337,900 3,567,300 (i) (ii) 2015 2016 2017 12 31 2018 3 31 146 176 273 304 11

(iii) 2013 2017 (iv) (i) (ii) 2015 2016 2017 12 31 2018 3 31 146 176 273 304 (iii) (II) (III) 12

(IV) 35.59% 16.93% 29.7% 62.7% (i) (ii) 14A.82(1) 14A.83 14.07 5% A (V) 62.7% 29.7% 13

(VI) 62.7% 29.7% 549,790,513 52.52% 1. 2. (i) (a) (b) (ii) B. (I) 2018 7 6 2019 2020 2018 7 6 2019 1 1 2020 12 31 14

2018 7 6 (3) (4) 2019 1 1 2020 12 31 A 15

(a) (i) (ii) (iii) (iv) (b) (i) (ii) 2017 12 31 2018 3 31 2018 12 31 2018 2018 2016 2017 3 31 12 31 12 31 12 31 4,099 8,469 3,790 12,000 555 306 212 680 4,654 8,775 4,002 12,680 16

2018 12 31 2020 12 31 2019 2020 12 31 12 31 18,600 27,900 1,060 1,600 19,660 29,500 (i) (ii) (iii) (iv) (i) (ii) (iii) 17

(iv) (II) (III) (IV) 35.59% 16.93% 52.17% 24.65% (i) (ii) 14A.82(1) 14A.83 18

14.07 5% A (V) 52.17% 24.65% (VI) 52.17% 24.65% 549,790,513 52.52% 1. 2. (i) (a) (b) (ii) 19

C. (I) 2018 7 6 2017 9 18 (i) (ii) 2017 9 18 2020 8 31 2020 8 31 2018 7 6 (i) (ii) 2020 9 1 2020 12 31 2018 7 6 (1) (2) 20

2020 9 1 2020 12 31 (a) (b) (a) (b) (a) (i) (ii) 21

(b) (i) (ii) 2017 12 31 2018 3 31 2019 12 31 2020 8 31 2018 2017 3 31 12 31 2018 12 31 2019 2020 12 31 8 31 728 9,500 14,500 12,800 2,560 2,837 131,800 191,000 165,533 2,560 3,563 141,300 205,500 178,333 2018 12 31 22

2020 12 31 2020 12 31 2020 12 31 2020 12 31 12,800 25,600 165,533 331,066 178,333 356,666 (i) (ii) (iii) (iv) (II) 23

(III) (IV) 60% 40% (i) 62.70% (ii) 29.7% 14A.82(1) 14A.83 (i) (ii) 14.07 5% A (V) 24

40% (VI) 549,790,513 52.52% 1. 2020 9 1 2020 12 31 2. (i) (a) (b) (ii) 25

D. (a) (i) 31 226 23 2017 587.1 32.7% (ii) 2017 12 31 2015 2017 12 31 57 2016 12 31 2016 39 46.2% 2017 105.9 265.5% (iii) 2015 3 2017 12 31 82 2016 12 31 86.4% 26

2015 2017 23.4 301.5% (i) 2017 (i) (ii) 2017 12 31 44 6 20 5 2016 3 5 5 1 12 (ii) 2018 3 1 2 1 2017 9 27

30 (i) (ii) (iii) 2017 12 31 22 53 28

2020 12 31 2015 2017 (b) 2020 12 31 29

(c) 2015 50.1% 46.1% 3.8% (d) (e) 2015 751 18.2% 2015 1.7% 30

(i) (ii) 2020 1,488 2015 14.7% 22.1% E. 2017 12 31 457,753,000 597,546,000 915,080,000 54.0% 54.9% 55.6% 2020 12 31 2015 2017 D. (a) (i) (ii) (iii) (iv) (b) 31

(c) (d) 2017 2018 7 (e) 2017 (f) 2020 12 31 2015 2017 (i) (ii) (iii) (iv) (v) (vi) (i) 32

(ii) (a) (b) (c) (iii) (iv) (v) (vi) (i) (ii) (vii) (i) (ii) 33

(iii) (iv) (viii) (ix) A 3000 740 2018 8 3 2018 8 8 2018 8 2 2018 8 2 183 17 1712-1716 80 83 (i) (ii) (iii) (www. hkexnews.hk) 48 34

183 17M 13.39(4) 13.5 35

38 73 37 2018 7 19 36

YIHAI INTERNATIONAL HOLDING LTD. 1579 (1) 2019 2020 (2) (3) 2018 7 19 38 73 38 73 2018 7 19 37

71 19 (1) 2019 2020 (2) 38

2018 7 19 2016 6 24 2016 6 24 2018 12 31 2018 12 31 2018 7 6 2019 1 1 2020 12 31 2018 7 6 2019 1 1 2020 12 31 2017 9 18 (i) (ii) 2017 9 18 2020 8 31 2020 8 31 2018 7 6 2020 9 1 2020 12 31 62.7% 29.7% 39

52.17% 24.65% (i) (ii) 14A.82(1) 14A.83 14.07 5% 2020 12 31 A 60% 40% (i) 62.70% (ii) 29.7% 14A.82(1) 14A.83 (i) (ii) 14.07 5% 2020 9 1 2020 12 31 A 40

(i) (ii) (i) (ii) 41

(a) (b) 2017 10 18 2018 4 12 (i) (ii) (iii) (i) 2019 2020 1. 42

2005 (i) (ii) 2017 12 31 75 22 53 2017 12 31 2017 1,646.2 2016 1,088.0 51.3% 2017 260.7 2016 186.7 39.6% 2. 2015 2017 100 43

2017 2017 915.9 2016 605.7 51.2% 2013 2017 50% 3. 2016 6 24 2016 6 24 2018 12 31 2018 12 31 2018 7 6 2019 2020 2019 1 1 2020 12 31 44

(a) 30 (i) (ii) 0.5% 45

(b) (c) A (a) (i) (ii) (iii) (iv) 46

(b) (i) (ii) (c) (i) (ii) (a) (b) (c) 2016 2017 30 60 47

30 4. 50% 2016 7 2014 8 (i) (ii) (iii) (iv) 48

2016 2017 2015 2017 2015 24.2% 51.6% 2016 28.5% 56.0% 2017 27.9% 53.0% 2015 2017 14.7% 17.0% 16.0% (i) (ii) (iii) (iv) 49

(i) (ii) 53.6% 55.7% 2013 2017 135.0 219.8 380.8 482.3 730.3 52.5% 2014 2017 44.0% 2013 2016 2017 1.1% 22.0% 24.0% 34.7% 38.3% 37.2% 7.0% 8.5% 14.7% 17.2% 15.9% 2013 2017 69.4 119.5 294.2 416.9 611.8 72.3% 2013 2017 22.1 50

42.5 124.5 186.7 261.1 85.4% 5. 12 31 2015 2016 2017 2016 2017 2018 % % % 598,000 33.6 994,800 66.4 1,569,700 57.8 580,000 32.0 968,000 66.9 1,526,000 57.6 18,000 116.7 24,000 33.3 30,000 25.0 2,800 13,700 389.3 597,546 33.5 905,333 51.5 1,449,199 60.1 579,921 32.0 891,638 53.8 1,432,486 60.7 17,625 112.2 13,596 (22.9) 16,178 19.0 99 535 440.4 1 51

12 31 2015 2016 2017 2016 2017 2018 % % % 99.9% 91.0% 92.3% 100.0% 92.1% 93.9% 97.9% 56.7% 53.9% 3.5% 3.9% 1,088,014 28.4 1,646,221 51.3 2 54.9% 55.0% 1. 2018 12 31 2018 3 31 2018 2018 2018 3 31 265,010,000 265,010,000 x 6/3 x 100%/37% 1,432,486,486 37% 2. 2018 12 31 12 31 2018 2019 2018 2020 2019 % % 1,569,700 2,337,900 48.9 3,567,300 52.6 1,526,000 2,269,600 48.7 3,462,700 52.6 30,000 45,000 50.0 65,000 44.4 13,700 23,300 70.1 39,600 70.0 52

2018 3 31 2018 1 1 2018 3 31 265.0 2018 17.4% 2018 (i) (ii) 2015 2016 2017 12 31 2018 3 31 146 176 273 304 (iii) (iv) 2013 2017 (v) 10% 2019 2020 2019 2020 53

2019 2020 2,269.6 3,462.7 2018 2018 2020 2019 2020 (a) 2017 2017 891.6 2016 579.9 53.8% 2015 2017 36.3% 37.0% 38.3% 37% 2015 2017 2018 1,432.5 265.0 x 6/3 x 100%/37% 2018 1,526.0 93.9% 2017 891.6 2018 1,432.5 60.7% 2013 2017 315.9 54

498.3 847.3 1,088.0 1,646.2 51.1% (i) 2013 2017 51.1 (ii) 2018 2018 2018 1,526.0 2019 48.7 2019 2020 2,269.6 3,462.7 52.6 2013 2017 51.1 2013 2017 2019 2020 2013 2020 53.9 2019 2020 52.6 1.3 2018 2020 2019 2020 2,269.6 3,462.7 2018 5 17 2015 2017 12 31 146 176 273 2015 2017 439.3 579.9 891.6 3.01 3.30 3.27 2018 180 220 190 2018 2018 12 31 463 2015 2017 55

799.3 1,634.5 1,978.4 2018 1,526.0 463 3.30 2015 2017 3.01 3.30 (i) 2018 2020 (ii) 2019 2020 (iii) 2019 2020 2,269.6 3,462.7 2019 2020 10% http://www.stats.gov.cn 2018 2 28 2017 2016 10.7% 3.96 2017 36.6 2016 33.2 10.2% 2017 6.9% 10% (b) 56

2015 2017 8.3 17.6 13.6 12.8 2017 2015 2017 2019 2020 2019 2020 45.0 65.0 44.4 (c) 2017 2017 61.4 2017 2018 3 31 99,000 260,000 2019 2020 57

2019 2020 23.3 39.6 2017 9 2017 5 12 61.4 2017 92.2 23.0 965,000 1,640,000 5% 2019 2020 23.3 39.6 2017 92.2 2019 2020 25.2% 43.0% 2013 2017 51.1% 2019 2020 70.0% 2018 2019 2020 2019 2019 2020 23.3 39.6 58

(ii) 1. 2018 7 6 2019 1 1 2020 12 31 2019 1 1 2020 12 31 A 59

(a) (i) (ii) (iii) (iv) 2015 2017 14.717.0 16.0 (b) (i) (ii) 60

30 60 30 2. 3. 12 31 2015 2016 2017 2016 2017 2018 % % % 7,210 77.3 9,630 33.6 12,680 31.7 6,800 68.8 9,100 33.8 12,000 31.9 410 978.9 530 29.3 680 28.3 4,654 14.4 8,775 88.5 4,002 4,099 1.7 8,469 106.6 3,790 555 1,360.5 306 (44.9) 212 ( 1) ( 1) 61

12 31 2015 2016 2017 2016 2017 2018 % % % 64.5% 91.1% 31.6% 60.3% 93.1% 31.6% 135.4% 57.7% 31.2% 1,088,014 28.4 1,646,221 51.3 ( 2) 0.43% 0.53% 1. 2018 2018 3 31 3,790,000 212,000 2. 2018 12 31 12 31 2018 2019 2018 2020 2019 % % 12,680 19,660 55.0 29,500 50.1 12,000 18,600 55.0 27,900 50.0 680 1,060 55.9 1,600 50.9 2018 3 31 2018 1 1 2018 3 31 3.8 0.2 2018 31.6% 31.2% 2018 62

(i) (ii) (iii) (iv) (i) (ii) (iii) (iv) (a) 63

2015 2017 4.0 4.1 8.5 45.8 2013 2017 51.1% 50.0% 55.0% 2019 2020 18.6 27.9 (b) 2015 2017 38,000 555,000 306,000 2017 2015 2017 2019 2020 2019 2020 1.06 1.60 50.9% 64

(iii) 2017 9 18 2017 9 18 (i) (ii) 2017 9 18 2020 8 31 2020 8 31 2018 7 6 2020 9 1 2020 12 31 2020 12 31 2020 12 31 2021 2023 1. 2020 9 1 2020 12 31 65

(a) (b) (a) (b) (a) (i) (ii) (b) (i) (ii) 66

2016 2017 30 60 (i) (ii) 30 2. 3. 2018 3 31 2018 1 1 2018 3 31 728,000 2018 7.7 2018 2017 2017 2018 3 31 2.6 2.8 2017 2018 5.3 2.2 2017 2018 67

2018 2019 2020 8 31 2020 12 31 2018 2019 2020 2020 2020 12 31 12 31 2018 8 31 12 31 12 31 2019 9,500,000 14,500,000 52.6% 12,800,000 12,800,000 25,600,000 76.6% 9,258,000 14,046,000 51.7% 12,427,000 12,427,000 24,854,000 76.9% 1.0 1.0 0.0% 1.0 1.0 1.0 0.0% 3% 3% 3% 3% 3% 131,800,000 191,000,000 44.9% 165,533,000 165,533,000 331,066,000 73.3% 5,328,000 7,726,000 45.0% 6,696,000 6,987,500 13,683,500 77.1% 24.0 24.0 0.0% 24.0 23.0 23.5 (2.1)% 1 1 3% 3% 3% 3% 3% 141,300,000 205,500,000 45.4% 178,333,000 178,333,000 356,666,000 73.6% 1 (a) 68

(b) (i) (ii) (iii) (iv) 10 2020 12 31 2017 9 2020 12 31 2020 9 1 2020 12 31 2018 2019 2020 8 31 69

(a) 2017 2020 2017 9 2020 9 12 12.8 2020 9 12 1.0 12,427,000 3% 2020 9 12 2020 25.6 2020 12.8 12.8 2020 9 12 2020 1 8 2020 50.0% 100% x 4/12 33.3% 2020 1 8 50.0% 100% x 8/12 66.7% 2020 9 12 2020 9 12 2018 2020 9.3 14.0 24.9 2019 2020 51.7% 76.9% 2018 2019 2020 2019 2013 2017 51.1% 2020 12 31 70

(b) 2017 2020 2020 9 12 165.5 2020 9 12 23.0 6,987,500 3% 2020 9 12 2020 331.1 2020 165.5 165.5 2020 9 12 2020 1 8 2020 50.0% 100% x 4/12 33.3% 2020 1 8 50.0% 100% x 8/12 66.7% 2020 9 12 2020 9 12 2018 2020 2018 2020 5.3 7.7 13.4 2019 2020 45.0% 73.3% 2018 2019 2020 2019 2013 2017 51.1% 71

2020 12 31 4. 14A.55 14A.59 72

2017 (i) (ii) (iii) 2017 (i) (ii) (iii) (iv) 6 1 2 2018 7 19 6 16 73

1. 2. XV (a) XV 7 8 (b) 352 (c) (%) (1) 372,547,021 (L) 35.59%(L) (1) 372,547,021 (L) 35.59% (L) (2) 177,243,492 (L) 16.93% (L) (3) 1,010,000 (L) 0.10% (L) (4) 500,000 (L) 0.05% (L) (L) (1) ZYSP ZYSP YIHAI Ltd ZYSP YIHAI Ltd 372,547,021 ZYSP YIHAI Ltd 74

(2) SL SYH YIHAI Ltd LHY YIHAI Ltd SYH YIHAI Ltd LHY YIHAI Ltd 177,243,492 SYH YIHAI Ltd LHY YIHAI Ltd (3) 2016 12 28 1,010,000 (4) 2016 12 28 500,000 XV XV 7 8 352 75

3. XV 2 3 XV 336 UBS Trustees 372,547,021 (L) 35.59% (L) (B.V.I.) Limited (1) ZYSP YIHAI Ltd (1) 372,547,021 (L) 35.59% (L) Cititrust Private Trust 177,243,492 (L) 16.93% (L) (Cayman) Limited (2) (2) 177,243,492 (L) 16.93% (L) Twice Happiness 177,243,492 (L) 16.93% (L) Limited (2) LHY YIHAI Ltd (2) 88,621,746 (L) 8.47% (L) SYH YIHAI Ltd (2) 88,621,746 (L) 8.47% (L) JLJH YIHAI Ltd (3) 77,220,000 (L) 7.38% (L) Vistra Fiduciary 77,220,000 (L) 7.38% (L) (HK) Limited (3) (L) (S) (1) ZYSP 2016 6 1 ZYSP YIHAI Ltd UBS Trustees (B.V.I.) Limited ZYSP ZYSP UBS Trustees (B.V.I.) Limited ZYSP YIHAI Ltd (2) SL 2016 6 2 SYH YIHAI Ltd LHY YIHAI Ltd Twice Happiness Limited Cititrust Private Trust (Cayman) Limited SL SL Twice Happiness 76

Limited Cititrust Private Trust (Cayman) Limited SYH YIHAI Ltd LHY YIHAI Ltd (3) Vistra Fiduciary (HK) Limited JLJH YIHAI Ltd JLJH YIHAI Ltd XV 2 3 336 4. 6 (a) 2017 12 31 (b) 5. 2017 12 31 77

6. 7. 13.68 8. (a) (b) 2018 7 6 (c) 2017 12 31 9. (a) P.O. Box 31119, Grand Pavilion, Hibiscus Way, 802 West Bay Road, Grand Cayman, KY1-1205, Cayman Islands (b) 6 1 2 (c) 28 18 (d) 183 17M 78

(e) 10. 2018 8 3 Davis Polk & Wardwell 3A 18 (a) (b) (c) (d) (e) 37 (f) 38 73 (g) 4 79

YIHAI INTERNATIONAL HOLDING LTD. 1579 2018 8 8 6 2 206 1. (i) HAI DI LAO HOLDINGS PTE. LTD. (a) (b) (c) 2018 7 6 (ii) 12 31 2019 2020 2,269,600 3,462,700 45,000 65,000 23,300 39,600 2,337,900 3,567,300 80

(iii) 2. (i) 2018 7 6 (ii) 12 31 2019 2020 18,600 27,900 1,060 1,600 19,660 29,500 (iii) 3. (i) 2018 7 6 81

2018 7 6 (ii) 2020 12 31 25,600 331,066 356,666 (iii) 2018 7 19 (1) 82

(2) (3) (4) 48 183 17M (5) (6) 2018 8 3 2018 8 8 2018 8 2 2018 8 2 183 17 1712-1716 83