AFC Shareholders Meeting 27 August 2018

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Hillary Garrett
5 years ago
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1 AFC Shareholders Meeting 27 August 2018

2 Hao (Howard) Long Director and Chairman of the Meeting

3 Yang Xia Chairman Charles Cao Director John Li Director

4 Yang Xia Chairman

5 Dear Shareholders and Guests, Good Afternoon and welcome to you all. During the Financial Year, AFC Group was not only carried out its work, but also a conducted comprehensive and consistent development. Under the leadership of managers at all levels within the group, all employees in China and New Zealand were committed and motivated during the past year. AFC Group Holdings Ltd has achieved remarkable results in all aspects of the group s all-direction businesses.

Meanwhile, AFC Group Holdings Ltd, with its complementary insights into the advantages of between New Zealand and China's business resources and two countries markets, AFC Group Holdings Ltd had

6 Meanwhile, AFC Group Holdings Ltd, with its complementary insights into the advantages of between New Zealand and China's business resources and two countries markets, AFC Group Holdings Ltd had combined the advantages of resources integration in two region s capital market. After more than two year s development, it has laid the foundation of self-development in the food processing, wine industry, trade logistics, biotechnology, cross-border E-commerce and other sectors and played a role in promoting China-New Zealand economic and trade exchanges and non-governmental exchanges.

7 In addition, AFC Group has also comprehensively adjusted its financial and management structure. AFC has further strengthened internal control, regulatory and compliance for financial and operational management, changed the situation in which the Staple Rodway issued disclaimer audit opinions for two years. Just a week before the shareholders' meeting, the Financial Markets Authority (FMA) formally ended its two-year enquires on the AFC's audit opinion and apricated the AFC for its efforts to strengthen its finances and management.

8 In the past year, AFC Group's has achieved total sales of 6.62 million dollars, have a loss of 330 thousand dollars, 990 thousand dollars decrease in deficit; Paid 160 thousand dollars in PAYE, an increase of 80 thousand dollars, an increase of 100%; A total of 40 jobs were resolved, a 200% increase compared to last year. At the same time, AFC Group further strengthen its financial team and management system, and formulated policies and procedures covering all aspects from top to bottom.

9 AFC Biotechnology Manufacture Co Ltd has successfully and smoothly produced from the start of the year's trial operation to the present. The production capacity has reached the ideal state during continuous debugging and learning. The popularity of the highquality DD Mask continues to increase under the brand promotion of China and New Zealand. AFC International Trading Group Ltd wholeheartedly organised several large-scale events for its brand. DD Mask's brand was effectively promoted and successfully expanded sales performance.

10 The wine varieties of AFC Longview Ltd have covered premium, medium and low wines. The Longview flagship of White diamond sweet white wine statement is now broadcast. It is not only supported by the signature of two former New Zealand Prime Ministers and parliament members, but also by the admiration of the Rothschild family, as well as Francisco Bandlin, the director general of UNESCO. National Dairy Group Ltd has obtained trademark registration rights for brands including Morning, DD Mask and others.

11 The AFC Group is also actively involved in the exchange of culture and industry between China and New Zealand. The company not only succeeded in promoting the first film of China and New Zealand, which has a Chinese story and promoted New Zealand culture. AFC is the only platform in New Zealand to connecting the Australia and New Zealand food and industrial park in Chaohu City, Anhui Province, China. ANZ Food and Industry Park is a full-scale Australian and New Zealand food culture experience centre that combines visits, experiences and interactions. It also introduced more than 2,000 Australian and New brands into the park.

12 In general, there is a qualitative leap regarding company system and management, brand building and publicity, work production and financial processes, staffing, managerial level, and employee awareness. As a multinational investment company, our shareholders could observe that while making unremitting efforts to develop our company, we must also be mindful of social responsibility and international responsibility. Creating a community of human destiny is not only the mission of China and New Zealand but also the responsibility of non-governmental organisations and enterprises in various countries.

13 The AFC Group is actively undertaking corporate social responsibility as the first Chinese listed company in New Zealand. All of these accomplishments are indebted to the excellent vision and high-efficient leadership by the Board, whole-hearted support from shareholders, hard work from management and all employees, fair and open business environment of New Zealand, and extensive support from all sectors of society. For this, the Board gives sincere thanks. Moreover, we hope the shareholders will support our work as always. The Broad promises to work harder to make AFC a better enterprise, and to create more value and revenue for the shareholders, and more tax revenue for the country!

14 Thank you!

15 Hao (Howard) Long Director and Chairman of the Meeting

16 Resolutions Resolution 1: Annual Report To receive and consider the Annual Report, including the audit report and financial statements, for the year ended 31 March That the Annual Report be received.

17 Resolutions Resolution 2: Appointment of Auditor To record that the Company s Auditors William Buck is reappointed as auditors pursuant to section 200 of the Companies Act 1993 and to consider, and if thought fit, to pass the following ordinary resolution That the company appoints new auditor for the financial year ending 31 March 2018.

18 Resolutions Resolution 3: Fixing the Fees and Expenses of the auditor To record that shareholder authorise the directors to fix the fees and expenses of the auditor for the financial year ending 31 March 2019 pursuant to section 200 of the Companies Act 1993 and to consider, and if thought fit, to pass the following ordinary resolution That the directors of the Company be authorised to fix the remuneration of the auditors of the Company for the ensuing year.

19 Resolutions Resolution 4: Re-election of Director To consider and, if thought fit, to pass the following ordinary resolution pursuant to NZAX Listing Rule 3.2.6: That Yang Xia, who retires by rotation and is eligible for reelection, be elected as a director of the Company.

20 Resolutions Resolution 5: Re-election of Director To consider and, if thought fit, to pass the following ordinary resolution: That Zilei (Jacky) Wang, having been appointed since the last annual meeting and who therefore retires and is eligible for election, be elected as an independent director of the Company.

21 Resolutions Resolution 6: Re-election of Director To consider and, if thought fit, to pass the following ordinary resolution: That Hao (Howard) Long, who retires by rotation and is eligible for re-election, be elected as a director of the Company.

22 Thank you for attending AFC Group Holdings Limited Annual Meeting

AFC GROUP HOLDINGS LIMITED ANNUAL REPORT 2018 FOR THE YEAR ENDED 31 MARCH 2018

AFC GROUP HOLDINGS LIMITED ANNUAL REPORT 2018 FOR THE YEAR ENDED 31 MARCH 2018 ANNUAL REPORT 2018 ANNUAL REPORT CONTENTS Page Directors' Profiles 2 Directors' Report 3-4 Corporate Governance Statement 5-6 AFC Longview Limited 7 AFC International Trading Group Limited 8 National Dairy