Group Structure

The Company has one Hong Kong subsidiary, Sino Gems (China) Limited and three PRC subsidiaries, Shenzhen Zhongbao Huihuang Jewellery Co., Ltd ("Shenzhen Zhongbao”), Fujian Zhongbao United Network Technology Co., Ltd ("Fujian Zhongbao”) and Quanzhou Guoyi Jewellery Co., Ltd ("Quanzhou Guoyi”). Shenzhen Zhongbao and Fujian Zhongbao are Wholly Foreign-owned Enterprises (“WFOE”).