Annual Reports and Related Documents::

HU AN CABLE HOLDINGS LTD.

A N N U A L R E P O R T 2 0 1 5

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C O N T E N T S

01 Corporate Profile

1. Chairman's Statement
2. Board of Directors

1. Group Structure
2. Financial Review

1. Financial Highlights
2. Report of Corporate Governance

1. Directors' Statement

1. Independent Auditor's Report

1. Consolidated Statement of Comprehensive Income
2. Balance Sheets
3. Statements of Changes in Equity

1. Consolidated Cash Flow Statement

1. Notes to the Consolidated Financial Statements

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Corporate Profile

Hu An Cable Holdings Ltd ( the "Company") and its subsidiaries (collectively, the "Group") is currently in the restructuring and transformation process of its businesses. The Company is seeking diversification into new businesses out of its current trading activities of electrical wires and cables that are conducted by its 2 subsidiaries in Singapore. The company envisions the exploration of new business opportunities, business strategies and directions and endeavours to build growth platforms for a sustainable future.

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H U A N C A B L E H O L D I N G S L T D .

Chairman's Statement

DEAR SHAREHOLDERS,

On behalf of the Board of Directors, I am pleased to present to you the Annual Report for the financial year ended 31 December 2015 ("FY2015").

THE COMPANY

The Company had, since 2015, undergone a few tumultuous and difficult years and many changes, brought about by the conduct of certain members of the Board, a summary of which has been set out in the Company's announcement via SGXNet dated 13 May 2020 titled "Update to Shareholders", Appendix 1 of the Company's announcement via SGXNet on 7 May 2021 titled "Announcement Pursuant to Rule 704(5) of the SGX-ST Listing Manual - Disclaimer of Opinion by the Independent Auditors on the Group's Financial Statements for the Financial Year Ended 31 December 2015", and the audited consolidated financial statements for FY2015 dated 6 May 2021 and which was released via SGXNet on 7 May 2021 ("Consolidated Financial Statements for FY2015").

The Board had, since 2015, been completely reconstituted, and a new Board and management is now at the helm of the Company.

In preparing the annual report for FY2015 and in setting out the financial statements for our shareholders, and as set out in the Board's opinion in the Consolidated Financial Statements for FY2015, the Board is of the opinion that uncertainties exist in whether the consolidated financial statements of the Group prepared on the basis of records and data left behind by the management and finance personnel who were employed by the Group at the material time in FY2015 ("Previous Management") gives a true and fair view of the financial performances, changes in equity and cash flows of the Group

for FY2015. We have, however, been unable to restate the accounts for prior years or to prepare the accounts for FY2015 independent from the records and data left behind by the Previous Management due to the destruction of servers hosting the necessary financial data, the relevant subsidiaries being wound up. The ex-CEO of the Company, Mr Dai Zhi Xiang was unavailable to be interviewed by the auditors of the Company as he had been sentenced to 15 years' jail on 31 August 2018.

At present, the current Board and management of the Company are working with the relevant parties on resolving historical issues of the Company, and concurrently, exploring new business opportunities and business strategies and directions for the Company that will generate recurring and sustainable income streams for the Company, which will in turn generate value for Shareholders of the Company ("Shareholders").

We shall be making the relevant announcements to the Shareholders in due course.

APPRECIATION

Finally, on behalf of the Board, and my fellow Board members, Mr Fang Huasheng and Mr Kong Hoi Shuen, I would like to extend my utmost appreciation to our management and staff, Shareholders, business partners and customers for their continued support in these difficult times. We will continue to put in our best efforts to deliver value to all our stakeholders.

Yours faithfully,

Gao Hong

Executive Chairman

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Board of Directors

GAO HONG

Executive Chairman

Mr Gao Hong was appointed as our Executive Director on 18 June 2017 and was designated as Executive Chairman on 22 June 2017.

Mr Gao is the founder of Veivo Technology Ltd (Hong Hong) and is currently the director of Delta Investment Group Ltd. He has many years of experience in fund management whereby he was director of Delta International Capital (DeTai Fund), from 2003 to 2017. Mr Gao has also held directorship positions in various companies listed on the Stock Exchange of Hong Kong in the past few years.

Mr Gao graduated with Master of Finance from HEC University of Lausanne, Switzerland.

Present directorships in other listed companies

• Nil

Past directorships in other listed companies held over the preceding three years

• Champion Technology Holdings Limited, listed on the Stock Exchange of Hong Kong
• On Real International Holdings Limited, listed on the Stock Exchange of Hong Kong

FANG HUA SHENG (Professor)

Executive Director

Mr Fang Hua Sheng was appointed as our Executive Director on 12 October 2018.

Mr Fang is currently the Chairman of Beijing Han Chu Da Investment Consultants Limited. He previously was the law professor with Zhongnan University of Economics and Law (a reputable university in the People's Republic of China (the "PRC") for political science and law) for more than 16 years, and also participated in the founding of one of the PRC's largest law firm, Grandall Law Firm. Mr Fang is also the founder of Shengang Securities Co, (the first fully licensed company under the Qualified Foreign Institutional Investor program launched by the PRC central government) and continues to be a director to-date. Mr Fang also co-founded Changsha Sanji together with Mr Wang Xinmeng, prior to its acquisition by Boai NKY Medical Holdings Ltd.

Present directorships in other listed companies

• Nil

Past directorships in other listed companies held over the preceding three years

• NKY Medical Holdings Ltd, Listed on Shenzhen Stock Exchange

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