HISTORY, DEVELOPMENT AND REORGANISATION

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1 OVERVIEW Our Company was incorporated in the Cayman Islands on 26 May 2016 and became the holding company of our subsidiaries upon completion of the Reorganisation. Our Company has been registered in Hong Kong under Part 16 of the Companies Ordinance as a registered non-hong Kong company on [ ]. Our Group comprises subsidiaries in BVI and Hong Kong, namely International and. For further details of our corporate structure, please refer to the sub-section headed Reorganisation in this section. OUR BUSINESS HISTORY The history of our Group can be traced back to 2004 when was incorporated in Hong Kong with the English name Affinity International Corporation Limited which principally engaged in trading of electronic terminal and provision of maintenance and related services. Mr. Lo owned as to 45% of interests in at incorporation, while Mr. Lee Ka Ming Kelvin ( Mr. Lee ), one of the senior management of our Company, held 10% interest and an Independent Third Party held the remaining 45% interest. Mr. Lo and the Independent Third Party disposed their respective 45% interest in EFT Solutions to Ms. Lam in June 2005 and was controlled by Ms. Lam therefrom. In June 2008, Affinity International Corporation Limited changed its English name to EFT Solutions Limited then in August 2008, when deciding to focus on creation and development of his personal business, Mr. Lo acquired all shares of using his own funds and became its sole shareholder, which remained unchanged until the Reorganisation. At the same time, Mr. Lo became the sole director of. After accumulating years of experience in the electronic payment industry through his time in Ingenico International (Pacific) Pty Limited and Hang Seng Bank Limited, Mr. Lo observed that neither the EFT-POS terminal manufacturers nor the acquirers in Hong Kong were taking a proactive role to provide innovative or customised services to the end users in the electronic payment industry (i.e. the retail merchants and individual consumers) in Hong Kong. Therefore, Mr. Lo decided to explore such business opportunities by providing one-stop EFT-POS terminal and peripheral device sourcing and EFT-POS System Support Service in Hong Kong. Through years of cultivation, as at 31 March 2016, our Group has arrangements to provide EFT-POS System Support Service with four EFT-POS terminal manufacturers, covering 15 acquirers Note, and directly to ten acquirers Note and five merchants in Hong Kong and Macau, covering approximately 46,000 EFT-POS terminals which are deployed at merchants including chain stores and department stores such as PARKnSHOP, DFS, Watsons and SOGO Hong Kong. In 2014, we developed our business to expand the provision of software solution services, to position our Group as a total solutions provider, which we believe, makes us stand out from our competitors within the industry. Note: Five of the acquirers are overlapping. 67

2 OUR BUSINESS MILESTONE The following table sets out the major development milestones of our Group since its establishment. Date February 2004 August 2008 May 2009 March 2011 December 2011 July 2012 February 2014 July 2014 November 2015 Event, our principal operating subsidiary, was incorporated in Hong Kong. became the value added partner of Verifone North Asia Limited, a subsidiary of Verifone, an international EFT-POS manufacturer. began to provide EFT-POS System Support Service for PAX Technology Limited, a subsidiary of PAX Global Technology Limited. (PAX Global Technology Limited. and/or its subsidiaries, as the case may be shall be referred to as PAX in this document). an international EFT-POS manufacturer. The number of EFT-POS terminals under EFT-POS System Support Service provided by our Group reached 5,000. The number of EFT-POS terminals under EFT-POS System Support Service provided by our Group reached 15,000, a triple of that as at May provided payment project service to a convenience store with EPS function in Hong Kong. The number of EFT-POS terminals under EFT-POS System Support Service provided by our Group reached 30,000, a double of that as at March began to provide EFT-POS System Support Service for EFT-POS terminals at the Hong Kong International Airport and DFS in Hong Kong. began to provide software solution services by cooperating with SOGO Hong Kong and began to provide EFT-POS System Support Service for EFT-POS terminals deployed there. The number of EFT-POS terminals under EFT-POS System Support Service provided by our Group reached 45,000 a 1.5 multiple of that as at July 2012 and representing over 40.0% of all the EFT-POS terminals in use in Hong Kong in

3 OUR CORPORATE HISTORY Our Company Our Company was incorporated in the Cayman Islands on 26 May Upon completion of the Reorganisation, our Company became the investment holding company of our Group, details of which are set out in the sub-section headed Reorganisation in this section. was incorporated under the laws of Hong Kong on 11 February 2004 with limited liability under its former English company name of Affinity International Corporation Limited. On the date of its incorporation, 45 shares and 10 shares were allotted and issued to Mr. Lo and Mr. Lee, one of the senior management of our Group, respectively, who were also appointed as the first director of upon its incorporation. For further details of the background of Mr. Lee, please refer to the section headed Directors and senior management in this document. On the same day, allotted and issued 45 shares to Mr. Christian Peter Charlton, an Independent Third Party, at a consideration of HK$45. On 25 June 2005, both Mr. Lo and Mr. Christian Peter Charlton transferred 45 shares in at a consideration of HK$45 and 45 shares in at a consideration of HK$45, respectively to Ms. Lam. On 25 June 2005, Mr. Lo resigned as director of EFT Solutions and Ms. Lam was appointed as director of. On 27 December 2006, Mr. Lee transferred 10 shares in at a consideration of HK$10 to Mr. Lo Chun Choi, Mr. Lo s brother. On 27 December 2006, Mr. Lee resigned as director of and Mr. Lo Chun Choi was appointed as director of. On 10 June 2008, changed its English name from Affinity International Corporation Limited to Limited. On 13 August 2008, Ms. Lam and Mr. Lo Chun Choi transferred 90 shares in EFT Solutions at a consideration of HK$90 and 10 shares in at a consideration of HK$10, respectively to Mr. Lo. Upon completion of such share transfers and until immediately prior to the Reorganisation, Mr. Lo held 100 shares (being all the issued shares) of EFT Solutions. On 13 August 2008, both Ms. Lam and Mr. Lo Chun Choi resigned as directors of and Mr. Lo was appointed as the sole director of. Ms. Lam was re-appointed as a director of on 22 April 2013 and remained as director until 14 February

4 Shopplus EFT Limited Shopplus EFT Limited ( Shopplus EFT ) was incorporated under the laws of Hong Kong on 17 December On the date of its incorporation, 1 share was allotted and issued to EFT Solutions. Mr. Lo was appointed as the first director of Shopplus EFT upon its incorporation. On 1 November 2012, Shopplus EFT allotted and issued 48 shares at a consideration of HK$48 and 51 shares at a consideration of HK$51 to and Media Express Technology Limited, an Independent Third Party, respectively. On 1 November 2012, Media Express Technology Limited was appointed as a corporate director of Shopplus EFT. On 17 June 2016, transferred 49 shares in Shopplus EFT at a consideration of HK$49 to Media Express Technology Limited. Upon completion of such share transfer, Shopplus EFT became wholly owned by an Independent Third Party and ceased to be part of our Group. Since 1 November 2012 and up to the date of disposal of its shares by, Shopplus EFT was treated as an associate of our Group. To the best knowledge of Mr. Lo, who was also the director of Shopplus EFT, Shopplus EFT had not carried on any business since its incorporation. REORGANISATION The companies comprising our Group underwent the Reorganisation to rationalise our corporate structure in preparation for the [REDACTED], and as a result, our Company became the holding company of our Group. Set forth below is the corporate structure and shareholding structure of our Group immediately prior to the implementation of the Reorganisation: Mr. Lo (Hong Kong) 49% Shopplus EFT 70

5 Incorporation of our Company and our holding company LCK Group LCK Group was incorporated under the laws of BVI on 24 May 2016 with limited liability and is authorised to issue a maximum of 50,000 shares of US$1.00 each, of which one share was allotted and issued as fully paid to Mr. Lo upon incorporation. Accordingly, LCK Group was wholly owned by Mr. Lo. Our Company Our Company was incorporated as an exempted company under the laws of the Cayman Islands on 26 May 2016 with limited liability. The initial authorised share capital of our Company was HK$380,000 divided into 38,000,000 Shares of HK$0.01 each. Upon incorporation of our Company, one Share was allotted and issued as fully paid at par to Reid Services Limited, being an Independent Third Party, and the Share was then transferred to LCK Group on the same day. Further 99 Shares were allotted and issued as fully paid at par to LCK Group on the same day. Accordingly, our Company became a direct wholly owned subsidiary of LCK Group. On [ ] 2016, our Company was registered in Hong Kong as a non-hong Kong company under Part 16 of the Companies Ordinance. International International was incorporated under the laws of BVI on 27 May 2016 with limited liability and is authorised to issue a maximum of 50,000 shares of US$1.00 each, of which one nil-paid share was allotted and issued as fully paid to our Company upon incorporation. Accordingly, International became a direct wholly owned subsidiary of our Company. Disposal of Shopplus EFT On 17 June 2016, transferred 49 shares in Shopplus EFT at a nominal consideration of HK$49 to Media Express Technology Limited. Upon completion of such share transfer, Shopplus EFT became wholly owned by an Independent Third Party and ceased to be part of our Group. Acquisition of by our Company from Mr. Lo On 20 June 2016, Mr. Lo, International, our Company and LCK Group entered into a sale and purchase agreement, pursuant to which Mr. Lo agreed to sell, and EFT Solutions International agreed to purchase, 100 shares of (representing the entire issued shares of ) (the Acquisition ) in consideration for our Company s agreement of alloting and issuing 900 Shares, credited as fully paid at par, to LCK Group in 71

6 value of HK$10,228,401 (being the amount of net asset value of as at 30 April 2016). Upon settlement and completion of the Acquisition and the allotment and issuance of the 900 Share to LCK Group on the same day, became a direct wholly owned subsidiary of International. Upon completion of the Reorganisation, our Company became the holding company of our Group. Set forth below is the corporate structure and shareholding structure of our Group immediately after the Reorganisation but prior to the Capitalisation Issue and the [REDACTED]: Mr. Lo LCK Group Company (Cayman Islands) International (Hong Kong) 72

7 Capitalisation Issue and the [REDACTED] Conditional on the share premium account of our Company being credited with the proceeds from the [REDACTED], HK$[REDACTED] will be capitalised from the share premium account of our Company and applied in paying up in full [REDACTED] for the allotment and issuance to the existing Shareholder of our Company, namely LCK Group, on or before Listing. Set forth below is the corporate structure and shareholding structure of our Group immediately after the Capitalisation Issue and the [REDACTED] (without taking into account the Shares which may be issued upon the exercise of any option which may be granted under the Share Option Scheme): Mr. Lo Public LCK Group [REDACTED]% [REDACTED]% Company (Cayman Islands) International (Hong Kong) 73