A subsidiary of Guangzhou White Light Co., Ltd.

Baiguang Electric Appliance Company: the holding subsidiary of Baiguang Co., Ltd., established on September 25th, 2002, is mainly engaged in electrical appliance monopoly chain. Through centralized procurement and unified distribution of household appliance retail terminals, it has established a large-scale household appliance sales enterprise integrating brand agency, chain retail, installation and maintenance services.

Xindaxin Co., Ltd.: White Light Co., Ltd. is a shareholding subsidiary. Guangzhou Xindaxin Co., Ltd. is a state-controlled department store chain retail enterprise, with five stores: Beijing Road Store, Huanshi East Road Dongguang Store, Liwan Road Liwan Store, Panyu Yifa Commercial Street Panyu Store and Foshan Sanshui Plaza Sanshui Store, with a total operating area of nearly 60,000 square meters. The store in Beijing Road Store is a Daxin company founded by the national capitalist Chua brothers in 19 14.

Baiguang United Trading Company: a holding subsidiary of Baiguang Co., Ltd., established on September 8, 20001year, mainly engaged in brand agency and marketing of cosmetics and daily necessities. The agent brands include Ponzi, Lux, Xia Shilian, Dove, Vaseline, Mystery and Jin Fang.

Baixin Plaza Management Company: a subsidiary of Baiguang Co., Ltd., established in July 2004, is a joint venture between Baiguang Co., Ltd. and Guangzhou Baimei Real Estate Co., Ltd., with property management qualification. Its operation and management is located in Baixin Plaza at the intersection of Airport Road and Guanghua Fifth Road, facing the planned core business district of Baiyun New City, with a total construction area of about 43,000 square meters.

Zhanjiang Xinhai Store of Baiguang Department Store: May 2005 1 Newly opened. It is a franchise store expanded in Zhanjiang by Baiguang Co., Ltd. on the occasion of the tenth anniversary of its opening in Zhanjiang. Located in Haibin Road, xiashan district, Zhanjiang City, one of the key urban areas in Zhanjiang City, it is adjacent to the beautiful sea-watching promenade, with a business area of16000m2.

Zhaoqing Store of Baiguang Supermarket: Established on July 2005 15, it is a franchise store of Baiguang Co., Ltd., located on the third floor of No.2 Duanzhou Fifth Road, Zhaoqing City, with an operating area of about 5 100 square meters.

Hengyang Store of Baiguang Department Store: On March 28th, 2005, Baiguang Co., Ltd. opened its first franchise store that developed across the provinces in the north. Located on the first and second floors of China Famous Brand Building, a bustling commercial center in Hengyang City, Hunan Province. It is the largest modern department store in Hengyang and even southern Hunan, with a business area of 20,000 square meters and more than 500 well-known brands at home and abroad.