1 6,963,900 3,778,622 EBITDA* 84,771 364,231 (163,964) 190,958 (0.1463) 0.1705 3,778.6 3,185.3 84.3% 6,963.9 EBITDA 364.2 279.4 84.8 164.0 191.0 (0.1463) 0.1705
2 O2O 400,882 6,110,523 442,087 10,408 6,963,900 270,175 3,052,234 386,083 70,130 3,778,622 48.4% 100.2% 14.5% -85.2% 84.3% 6,963.9 3,778.6 84.3%B2B 535.3 532.1 76.2 14 164.0 191.0 (i) (ii) 669.3 507.0 24.2% (iii) 106.5 (iv)
3 (zol.com.cn)500 SaaS + 3C SaaSSaaS +SaaS+ +
4 SaaS 100 3,000 7,000 SaaS 20 B2B 100 800 6,500 30 B2B B2B 24
5 SaaS 17 1,000 5.5 80.38% to B 430073 Z-SCMIoT RFID 3A 52
6 SaaS AISaaS IM 2.0 6.18
7 5.8%87.8% 6.3% 0.1% O2O 180
8
9 430.4 1,374.3 2,395,985,000 2,127,338,000 1,610,935,000 1,228,244,0006.11% 6.17%785,050,000 899,094,000 94,850,000 27,816,00025% 6.34% 6.34% 4.35% 14.28%4.5% 13.7% 28% 4,337.7 127.74,210.0
10 2,686 450,000 1,100,000 1,120,852,210 1,120,402,210 645,000,000980,926,000 771,035,000 16 251,500,000 251,500,000277,093,000 276,003,000 344,547,000519,917,000 578,266,000783,401,000
11 13.51B (1) 1) (i) (ii) (iii) (iv)(v) (vi) (i) (ii) (iii) (iv) Lee Wee Ong (v) Lee Wee Ong A.2.1 2) (i) (ii)
12 Daxiong Holdings Limited Hanson He Holdings Limited Richard Chen Holdings Limited Mr Moustache Holdings Limited 16,900,000 16,900,000 3,014,250 0.27% Mu Hao Holdings Limited Hong Rui Technology Holdings Limited Chance Technology Co. Ltd Vanguard Technology Holdings Limited 26,000,000 26,000,000 10,909,090 0.97%
13 10%66,774,661 844,6610.08% 112,085,22110% 100,000,000 8%(1) 30% 22.63% 0.1% 5% 14A
14 10,000,0004.60.10 56,000,000 5% 26 28,100,0002.51% 4,000,000 2,000,000
15 17 66 34 34 2410
16 34
17 7 6,908,267 3,700,334 7 55,633 78,288 6,963,900 3,778,622 (6,456,938) (3,109,332) 15,440 16,773 30,180 115,241 (340,253) (355,081) (191,892) (180,254) (76,202) (30,258) 1,248 (86,023) 267,217 10 (75,611) (35,025) 17 1,533 1,108 (160,101) 233,300 11 (9,094) (33,863) (169,195) 199,437 24 (4,995) 2,248 24 1,822 (11,131) 24 338 (172,030) 190,554
18 (163,964) 190,958 (5,231) 8,479 (169,195) 199,437 (166,799) 182,075 (5,231) 8,479 (172,030) 190,554 12 (0.1463) 0.1708 12 (0.1463) 0.1705
19 14 161,934 14 614,700 623,829 14 590,806 533,787 4(c) 242,420 14 2,865,991 2,992,052 15 3,514 5,604 16 65,136 103,160 23 45,789 31,292 17 657,526 677,808 34,875 25,000 18 65,167 95,247 18 16,590 16,758 5,202,514 5,266,471 82,500 82,500 51,276 63,855 16 1,645,375 1,419,592 15 409,982 281,079 15 493,732 512,094 15 125,098 38,965 181,280 354,984 18 30,910 740 277,093 276,003 430,423 471,672 3,727,669 3,501,484 8,930,183 8,767,955 22 103,664 103,625 24 3,130,454 3,092,149 975,845 1,141,955 4,209,963 4,337,729 873,683 883,895 5,083,646 5,221,624
20 21 562,000 368,000 21 358,972 351,162 4(c) 57,438 160,883 165,808 86,838 83,145 23 267,080 274,100 19 36,622 1,493,211 1,278,837 20 191,479 94,922 20 124,174 282,652 19 358,115 348,866 21 1,048,935 860,244 21 426,078 547,932 4(c) 77,563 11,450 10,650 45,127 44,417 15,658 25,882 54,747 51,929 2,353,326 2,267,494 3,846,537 3,546,331 8,930,183 8,767,955 164
21 103,625 3,092,149 1,141,955 4,337,729 883,895 5,221,624 16 4(a) (2,146) (2,146) (4,589) (6,735) (163,964) (163,964) (5,231) (169,195) 24 1,822 1,822 1,822 24 (4,657) (4,657) (4,657) (2,835) (163,964) (166,799) (5,231) (172,030) 24 39 279 318 318 22(b), 24 (3,034) (3,034) (3,034) 24 36,545 36,545 36,545 4,236 4,236 25 7,350 7,350 (3,020) 4,330 (1,608) (1,608) 103,664 3,130,454 975,845 4,209,963 873,683 5,083,646
22 100,740 2,737,941 815,417 3,654,098 803,031 4,457,129 9 24 (63,515) 51,042 (12,473) (1,760) (14,233) 190,958 190,958 8,479 199,437 24 (11,131) (11,131) (11,131) 24 2,248 2,248 2,248 (8,883) 190,958 182,075 8,479 190,554 33,489 33,489 2,964 163,620 166,584 166,584 (2,764) (2,764) (2,764) 28,691 28,691 28,691 9,238 9,238 (11,671) (11,671) (9,910) (21,581) 103,704 2,843,419 1,057,417 4,004,540 842,567 4,847,107 10% 50% 7,438,000 8,519,000 119,248,000111,810,000
23 (60,687) (127,626) 6,571 5,371 (67,910) (38,994) (28,170) (59,110) (150,256) (220,359) (35,742) (9,844) (107,455) (4,312) (38,590) 669 606 (7,000) 9,000 2,169 (3,500) 25 4,330 10,000 5,000 152,011 17 21,815 413 (111,383) 110,953 22(b) (3,034) (2,764) 428,800 151,709 249,263 (46,656) (26,543) (377,113) (33,863) (21,581) 4,236 8,065 (1,608) 318 220,343 108,886 (41,296) (520) 471,672 401,918 47 359 430,423 401,757
24 1 4th Floor, One Capital Place, P.O. Box 847, George Town, Grand Cayman, Cayman Islands, British West Indies B2B hc360.comzol.com.cn IT B2B 3CSaaS O2O 38,426,000 37,776,000
25 2 34 3 (a) 19 28 9 16 23 16 4 (b) 3 (1) (1) 17 (2) 10 (3) 28 (1) (2) (3)
26 4 16 4(b) 16 (a) 16 1617 7.11% 185,063 170,825 (7,515) 163,310 70,714 92,596 163,310 16 16
27 16 161,934 (161,934) 259,118 259,118 1,141,955 (2,146) 1,139,809 883,895 (4,589) 879,306 92,596 92,596 282,652 (46,582) 236,070 348,866 (12,809) 336,057 70,714 70,714 (i) 16 0.34 (ii) 16 12 174
28 (b) 1 5
29 12 1 20 16 16 (c) 16 97,184 161,934 259,118 97,184 161,934 259,118 5,554 5,554 (19,884) (2,368) (22,252) 82,854 159,566 242,420 77,563 57,438 135,001
30 5 4 6 6.1 6.2 6.3
31 65,167 65,167 47,500 47,500 65,167 47,500 112,667 62,647 32,600 95,247 17,498 17,498 62,647 50,098 112,745
32 (a) (b) 17,498 2,100 32,600 (169,000) 528,960 9 494,425 34,535 (528,960) 3,500 (32,600) (541,000) 3,040 165,626 30,002 84,183 3,374 (28,750) (1,935) 47,500 17,498 32,600
33 (ii) Zale Inc. Zale Inc. 0.66% 0.66% 90% 90% 1.67% 1.63% 19% 80% 7 (i) zol.com.cn (ii) B2B (iii) hc360.com (iv) O2O
34 O2O 400,882 6,110,523 386,454 10,408 6,908,267 55,633 55,633 400,882 6,110,523 442,087 10,408 6,963,900 (38,426) (37,776) (76,202) (31,237) (52,015) (28,059) (21,405) (132,716) (25,749) (18,005) (48,755) (39,134) (131,643) 1,533 15,440 30,180 (75,611) (160,101) O2O 270,175 3,052,234 307,795 70,130 3,700,334 78,288 78,288 270,175 3,052,234 386,083 70,130 3,778,622 (19,099) (8,176) (28,007) (11,933) (67,215) 58,114 (23,398) 84,164 16,323 135,203 1,108 16,773 115,241 (35,025) 233,300
35 6,501,910 3,249,385 461,990 529,237 8 94,000 30,002 15,704 3,590
36 9 22,370 B2B 6,266,508 3,003,499 82,465 124,719 2,368 9,129 9,129 50,583 38,994 50,752 16,724 22,252 242,319 210,286 8,210 2,807 21,098 (4,458) 950 325 78 27,216 2,231 14 76,202 10 (44,157) (35,629) (26,275) (1,781) (7,386) (1,506) (4,746) (2,101) (2,794) (84,665) (41,710) 766 8,288 6,685 (75,611) (35,025) 6.85%
37 11 (i) (ii) (30,988) (35,249) (15,771) 21,894 17,157 (9,094) (33,863) (i) (ii) 25% 15%
38 12 (163,964) 190,958 1,120,562 1,118,167 970 1,971 1,121,532 1,120,138 (0.1463) 0.1708 (0.1463) 0.1705
39 13 14 533,787 161,934 623,829 1,148,267 1,843,785 16 (161,934) 108,221 291 (450) (76,202) (50,752) (9,129) (50,583) 112 321 590,806 614,700 1,098,087 1,767,904 286,358 166,671 642,087 1,051,173 1,325,227 9,743 128 17,300 21,544 (305) (16,724) (2,368) (9,129) (38,994) 279,200 164,303 632,958 1,029,479 1,346,771 4(c) 16 804,000,000 878,000,000
40 50,314 50,314 B2B2C 980,247 980,247 i 38,426 ii 210,563 248,018 19,626 19,626 21,544 21,544 14,933 14,933 15,957 15,957 454,720 454,720 1,767,904 1,843,785 36i ii
41 (i) 170,807,500144,573,000 70,095,00059,329,000 69,900,000 38,426,000 20% 16% 12% 14%3% 3% 38,426,000 (ii) 362,000,000409,091,000 162,652,000 184,091,000 105,500,000 250,096,000
42 18% 15% 17% 12%3% 3% 37,776,000 12% 14% 20% 16% 3% 3% 17% 12% 18% 15% 3% 3% (a) (b) (c) (iii)
43 15 a 533,769 544,521 (40,037) (32,427) 493,732 512,094 b 413,496 286,683 c 125,098 38,965 1,032,326 837,742 b (3,514) (5,604) 1,028,812 832,138 (a) 90270 90 295,513 349,430 91 180 54,654 117,500 181 365 133,229 29,819 50,373 47,772 533,769 544,521 8,210,000 2,807,000
44 (b) 3,514 5,204 400 3,514 5,604 19,919 21,614 318,885 240,637 71,178 18,828 409,982 281,079 413,496 286,683 23,433 26,818 318,885 241,037 71,178 18,828 413,496 286,683 2,950 2,506 410,546 284,177 413,496 286,683
45 (c) 126,156 39,073 (1,058) (108) 125,098 38,965 i 28,524 8,134 ii 72,391 iii 24,183 30,831 125,098 38,965 (i) (ii) (iii)
46 16 1,760,658 1,552,826 3,885 3,885 47,540 47,540 25,234 24,209 1,837,317 1,628,460 (21,342) (31,681) (987) (964) (104,477) (73,063) (126,806) (105,708) 1,710,511 1,522,752 (65,136) (103,160) 1,645,375 1,419,592
47 (a) 1,760,658 1,552,826 (125,648) (104,563) 1,635,010 1,448,263 10.2% 11.2%1,760,658,000 1,552,826,000 (b) 481,858 443,084 1,134,258 834,612 144,542 275,130 1,760,658 1,552,826 (125,648) (104,563) 1,635,010 1,448,263
48 1 2 3 1,469,702 1,469,702 114,498 114,498 37,304 37,304 86,692 86,692 52,462 52,462 1,469,702 114,498 176,458 1,760,658 (18,706) (1,862) (105,080) (125,648) 1,450,996 112,636 71,378 1,635,010 1 2 3 1,249,211 1,249,211 154,386 154,386 54,945 54,945 53,054 53,054 41,230 41,230 1,249,211 154,386 149,229 1,552,826 (27,981) (2,650) (73,932) (104,563) 1,221,230 151,736 75,297 1,448,263
49 (c) 3 3 455,294 5,455 21,109 481,858 972,318 57,081 104,859 1,134,258 41,988 2,519 24,957 75,078 144,542 1,469,600 2,519 87,493 201,046 1,760,658 3 3 420,363 1,232 17,276 4,213 443,084 671,739 10,413 90,843 61,617 834,612 129,054 23,153 74,579 48,344 275,130 1,221,156 34,798 182,698 114,174 1,552,826
50 (d) 32,645 73,063 105,708 (10,316) 31,414 21,098 22,329 104,477 126,806 16,176 61,074 77,250 9 4,027 3,363 7,390 9 20,203 64,437 84,640 (976) (3,482) (4,458) 19,227 60,955 80,182 17 657,526 677,808
51 677,808 124,418 3 (21,815) 541,000 (10,735) (4,096) 1,533 1,108 657,526 651,695 12.0 1 25,440 28,140 29.6 2 36,299 39,169 9.8 3 546,822 561,162
52 1 60% 20% 2 20%9.6% 29.6% 3 9.79% 21,815,000
53 18 Zale Inc. 310 340 30,600 400 i 65,167 62,647 ii 16,590 16,758 32,600 47,500 17,498 65,167 95,247 (16,590) (16,758) (65,167) (95,247) 30,910 740 30,910,000 740,00030,170,000 6.3(b)(ii (i) 9 6.3 (ii) 9 6.3
54 19 i 164,665 140,190 B2Bii 139,221 185,856 iii 54,229 59,442 358,115 385,488 (36,622) 358,115 348,866 (i) (ii) B2B (iii)
55 20 a 191,479 94,922 21,379 35,577 15,258 14,459 35,742 28,003 100,502 36,518 66,908 23,016 29,464 315,653 377,574 (a) 90 141,761 83,415 91 180 36,887 8,756 181 365 12,212 2,345 619 406 191,479 94,922
56 21 562,000 368,000 358,972 351,162 920,972 719,162 1,048,935 860,244 426,078 547,932 1,475,013 1,408,176 2,395,985 2,127,338 6.11% 6.17% 645,000,000372,376,000 980,926,000771,035,000 16 251,500,000 251,500,000 277,093,000 276,003,000 107,000,000 27,816,00025% 6.34% 6.34% 882,000882,000 4.35% 14.28% 4.5% 13.7% 344,547,000519,917,000 578,266,000783,401,000
57 1,048,935 860,244 426,078 547,932 440,750 233,000 358,972 351,162 121,250 135,000 1,610,935 1,228,244 785,050 899,094 94,850,000 22 1,120,402,210 103,625 c 450,000 39 1,120,852,210 103,664 1,085,323,710 100,740 a 36,028,500 2,964 1,121,352,210 103,704 0.10.12,000,000,000 2,000,000,000
58 0.82 450,00039,000 279,000 1,120,852,210 1,120,402,210 (a) 36,028,500 166,584,0005.6 (b) 1,100,000 750,0003,034,000 2,764,000 (c) 10,000,000 4.6 33.3% 100% 450,000
59 0.604 0.604 400,000 0.82 1,438,000 0.82 1,438,000 1.108 200,000 1.108 200,000 4.402 1,500,000 4.402 1,500,000 9.84 9,972,000 9.84 9,972,000 6.476 29,930,000 6.476 29,930,000 4.6 36,000,000 0.604 0.604 0.82 0.82 1.108 1.108 4.402 4.402 9.84 9.84 6.476 6.476 4.6 10,000,000 4.6 36,000,000 0.604 0.604 (400,000) 0.82 (450,000) 0.82 1.108 1.108 4.402 4.402 9.84 (6,592,000) 9.84 6.476 6.476 4.6 (4,500,000) 4.6 0.604 0.604 0.82 988,000 0.82 1,438,000 1.108 200,000 1.108 200,000 4.402 1,500,000 4.402 1,500,000 9.84 3,380,000 9.84 9,972,000 6.476 29,930,000 6.476 29,930,000 4.6 41,500,000 4.6 36,000,000
60 0.82 988,000 0.82 1,438,000 1.108 200,000 1.108 200,000 4.402 1,500,000 4.402 1,500,000 9.84 3,380,000 9.84 9,972,000 6.476 29,930,000 6.476 29,930,000 4.6 31,500,000 4.6 36,000,000 4.6 10,000,000 (d) 72 24,181,000 Lee Wee Ong3,000,000 36 16,700,00072 13,000 (1,920) 11,080 15,360 (2,360) 13,000
61 23 (242,808) (250,595) 9 1,716 21,894 17,157 (377) 2,201 (3,875) (221,291) (233,396) 24 2,668,590 15,723 197,382 109,817 188,330 1,592 18,159 (90,588) (16,856) 3,092,149 279 279 (3,034) (3,034) 36,545 36,545 (392) (8,609) 9,001 1,822 1,822 25 7,350 7,350 (4,657) (4,657) 2,668,477 15,723 204,732 109,817 216,266 (1,442) 13,502 (81,587) (15,034) 3,130,454
62 2,509,775 3,364 27,507 109,817 122,589 1,478 (686) (99,418) 63,515 2,737,941 9 (63,515) (63,515) (2,764) (2,764) 163,620 163,620 28,691 28,691 14 (8,839) 8,825 (11,131) (11,131) (11,671) (11,671) 2,248 2,248 2,673,409 3,364 15,836 109,817 142,441 (1,286) 1,562 (90,593) (11,131) 2,843,419 25 5% 4,330,000 20% 3,020,000 7,350,000 36.8%
63 26 (a) 4,443 3,400 29,929 24,267 34,372 27,667 (b) i 1,978 2,655 i 160 563 (i) (c) i 570,050 581,050 ii 67,529 59,708 iii 3,971 8,403
64 (i) 335,000,000 6.2%234,000,000 7.1% (ii) 20,800,000 20,800,000 5,940,000 7% 7% 6% (iii) 3,935,000 3,935,000 5% 3% 3% 27 Zale Inc. 51% 12,750,000 11,821,000 51% 34.63% Z.Tech Holdings LimitedZ.Tech Zale Limited Ruthfly Limited Fejack LimitedZale Inc.Zale 100% 366,500,000 100,000,00010.66% Z.Tech 1,800,000,000GMV Z.Tech Zale 65.37%10.66%Zale 89.34%Zale
65 100,000 Z.Tech 266,500 164,878 44,177 (340) 575,215 53,266 47 452 457 9,783 112,000 (27,455) (28,000) 120,550 (55) 454,720 575,215
66 28 29 (i) 181,084 252,198 10,639 24,127 181,084 286,964 30 (i)(ii) 38,796,000 51,040,000
67 571XV XV 78 352 (a) 79,850,000 1 79,850,000 7.12% 10,100,000 2 10,100,000 0.90% 4,000,000 62,273,794 66,273,794 5.91% 3 3 57,749,015 4 57,749,015 5.15% 32,000,384 5 32,000,384 2.86% 1. (i) 49,920,00044,870,000 Chance Talent Management Limited(ii) 29,930,000 2. (i) 100,000(ii) 10,000,000
68 3. (i) 4,000,000(ii) Wisdom Limited62,273,794Chance Talent Management Limited Wisdom Limited 4. (a) 35,000,000 (b) 22,749,015 5. 32,000,384Venture Profits Holdings Limited Malvern PTC Limited 32,000,384 XV XV78 352 GEM
69 77,498,000 1 15 6.476 29,930,000 29,930,000 15 10,000,000 10,000,000 15 4.6 4,000,000 4,000,000 Lee Wee Ong 14 4.402 1,500,000 1,500,000 15 4.6 2,200,000 2,200,000 15 4.6 3,500,000 3,500,000 15 4.6 3,000,000 3,000,000 2 14 0.82 1,438,000 (450,000) 988,000 3 14 1.108 200,000 200,000 4 14 9.84 9,972,000 (6,592,000) 3,380,000 5 15 4.6 23,300,000 (4,500,000) 18,800,000 79,040,000 10,000,000 (450,000) (11,092,000) 77,498,000
70 1. 10 0.82 50% 100% 1.108 50% 100% 9.84 10% 20% 40% 70% 6.476 20% 40% 60% 80% 4.60 33.3% 66.6% 4.60 33.3% 66.6% 2. 2 0.82988,000 3. 2 1.108200,000 4. 16 9.843,380,000 5. 14 4.618,800,000 6. 12,527,0000.82 79.8% 3.45.9 0%2.865%
71 7. 1,377,0001.10877.4% 3.84.9 0%2.82% 8. 3,754,0004.40275% 9.19.6 0%1.111% 9. 50,125,0009.8471.5% 4.77.9 0%1.915% 10. 100,356,0006.47662% 4.9 0.9%1.745% 11. 70,258,0004.670% 10 0%2.13% 12. 13. 14. 15. 16. 4.37
72 26 28,100,0002.51%4,000,000 2,000,000 74,981,000 6.69% 8,351,000 8,351,000 1 2,649,780 2,649,780 2,000,000 (1,921,001) 78,999 13,000,780 11,079,779
73 XVXV23 336 Talent Gain Developments Limited 253,671,964 1 22.63% 341,314,821 1 30.45% 167,810,271 2 40,000,000 14.97% 3.57% 167,810,271 2 40,000,000 14.97% 3.57% 123,810,461 3 11.05% 123,810,461 3 11.05% Chance Talent Management Limited 123,810,461 3 11.05%
74 1. (1) Talent Gain Developments Limited 230,263,964(2) Unique Golden Limited 23,408,000 (3) 87,642,857Unique Golden Limited Talent Gain Developments LimitedTalent Gain Developments LimitedDigital China (BVI) Limited861 Talent Gain Developments LimitedUnique Golden Limited Digital China (BVI) Limited Talent Gain Developments Limited Unique Golden Limited 2. (a) 116,794,146 7,665,125(b) 8,351,000 (c) 35,000,00035,000,000 3. (1) Chance Talent Management Limited 2.85% 16,666,667 (2) Chance Talent Management Limited 107,143,794Chance Talent Management Limited CCBI Investments Limited CCBI Investments Limited 939 601939 57.11%3 Chance Talent Management Limited 336 10
75 14
76 1,100,000