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Hello, everyone:

In 2020, the new coronavirus epidemic raged around the world, and multi-country lockdown measures affected economic activities and people's consumption desire. The sports industry and retail industry will inevitably face severe historical tests. Sino-US relations are still tense. While China is responding to external challenges, the epidemic has also impacted the economy. Fortunately, under the situation of internal and external troubles, it has accelerated the new economic development pattern and consumption model in which the domestic and foreign double cycles promote each other "national economic cycle. At present, China’s epidemic prevention and control are effective, China’s economy is recovering in an orderly manner, with sufficient economic development potential and strong resilience. The sports industry and retail industry are closely related to national life, and there are still opportunities for industry development. In the short term, the central government’s measures to boost the economy have played a positive role in stimulating market demand due to the different peak consumption seasons in the Mainland. China’s economic development has strong resilience in the long run, and consumers are more likely to pursue lifestyle and leisure consumer goods and sports experiences. Higher levels will increase the demand for "multi-brand footwear" and "sports experience".

Since 2019, the Group has fully implemented two main business layouts: 1) "Multi-brand footwear" includes investment and operation of multi-brand consumer products; 2) "Sports experience" includes sports destinations, sports events, and activities. The operation, service, and investment of the e-sports club. Relying on the perseverance and hard work of the operation team, during the reporting period, we are happy to see the consolidation and expansion of the two major businesses. In the future, the Group will make every effort to promote the development of the two major businesses to provide multi-brand footwear and a full range of sports experience and services and grasp the potential of the younger consumer group "golden consumer group" market. Since the outbreak of the epidemic, the public has paid more attention to health and pursued the trend of healthy living. At the same time, it has benefited from the country's promotion of the economic "national economic cycle" and the market opportunities brought by young consumer groups. In mid-2020, we completed the acquisition of Bossilon, a well-known casual wear brand in the industry, with a history of more than 30 years in Greater China and other parts of Asia. While increasing the development of our existing businesses (including Bossing and LNG brands), we will also continue to actively promote potential project mergers and acquisitions opportunities for various types of domestic and international consumer product brands. On March 15, 2021, we announced that we had conditionally agreed to subscribe for a majority stake in LionRock Capital Partners QiLe Limited. The company holds most of the rights and interests of C&J Clark (No.1) Limited ("Clark"). The Clarks brand has a history of nearly two hundred years. Its main markets cover the United Kingdom, the United States, and many different countries in the world, including the Greater China region. After the completion of the transaction, the Group has further expanded its footprint in sports, lifestyle, and leisure consumer products. The Group will make every effort to develop the footwear and apparel brand business of Fort Lion, LNG, and Clarks, and is committed to obtaining business growth opportunities in the market environment of large consumption arising from China's further urbanization and modernization. The Group will concentrate its main resources on the core business of “multi-brand footwear”. To this end, the Group will further expand its brand operation team, set up professional online and offline pipeline operation departments, invest in competitive supply chain businesses, and create the best for the development of the Group’s “multi-brand footwear” business in the Chinese market. Strong support has enabled the Group's "multi-brand footwear and apparel" business to achieve rapid growth.

Since the outbreak of the epidemic, the public has paid more attention to health and pursued the trend of healthy living. At the same time, it has benefited from the country's promotion of the economic "national economic cycle" and the market opportunities brought by young consumer groups. In mid-2020, we completed the acquisition of Bossilon, a well-known casual wear brand in the industry, with a history of more than 30 years in Greater China and other parts of Asia. While increasing the development of our existing businesses (including Bossing and LNG brands), we will also continue to actively promote potential project mergers and acquisitions opportunities for various types of domestic and international consumer product brands. On March 15, 2021, we announced that we had conditionally agreed to subscribe for a majority stake in LionRock Capital Partners QiLe Limited. The company holds most of the rights and interests of C&J Clark (No.1) Limited ("Clark"). The Clarks brand has a history of nearly two hundred years. Its main markets cover the United Kingdom, the United States, and many different countries in the world, including the Greater China region. After the completion of the transaction, the Group has further expanded its footprint in sports, lifestyle, and leisure consumer products. The Group will make every effort to develop the footwear and apparel brand business of Fort Lion, LNG, and Clarks, and is committed to obtaining business growth opportunities in the market environment of large consumption arising from the further urbanization and modernization of China.

The Group will concentrate its main resources on the core business of “multi-brand footwear”. To this end, the Group will further expand its brand operation team, set up professional online and offline pipeline operation departments, invest in competitive supply chain businesses, and create the best for the development of the Group’s “multi-brand footwear” business in the Chinese market. Strong support has enabled the Group's "multi-brand footwear and apparel" business to achieve rapid growth.

Thanks

Viva China has been established ten years. We have always adhered to our original aspirations, taking sports as our mission to integrate sports into life communication and leisure consumption. In the next ten years, Viva China will take our vision step by step with firm belief and steadfast steps, and continue to focus on promoting the development of two major businesses to provide a full range of sports, lifestyle, and leisure consumer products and sports experience to consumers. Group, to create greater value for shareholders.

Since the outbreak of the epidemic, the Group has been committed to comprehensively implementing epidemic prevention measures to ensure the health and safety of employees and passenger transportation and work side by side with employees to overcome difficulties and meet every challenge. On behalf of my colleagues in the Board of Directors, I would like to thank our employees for sticking to their posts at all times. At the same time, I would like to express my sincere gratitude to shareholders and business partners for their trust and loyal support to the Group, as well as the management and business teams for their contributions in the past year.

Chairman, Chief Executive Officer, and Executive Director

Li Ning

March 22, 2021, Hong Kong