About I.CENTURY HLDG Company

We were founded in Hong Kong in 2008 as a clothing supply chain management service provider. Our services include product development, raw material procurement, production management, quality control and logistics arrangements. Most of our major customers are European and American clothing retail brand customers, which promote and sell products through our brands (including Animal, Billabong, Element, Primitive, Ripple Junction, RoarKrevival, and X-Large). The main customer products are generally casual lifestyle, suitable for professional consumers and outdoor activities such as surfing and skiing. We don't own our own brands. All of our products are produced according to the specifications and conditions provided by the customer. We will also provide advice on design and specifications in response to customer brand needs and budget proposals on raw material selection, style and pattern. Once production details (such as product specifications and production schedule) are confirmed, we will produce prototypes and sales samples for customer approval. Once a large purchase order is placed, we will make pre-production samples for the customer to conduct a final review before mass production. Before each major fashion season (i.e. spring, summer, fall, and festive sales season), we often meet with customers to understand their plans and provide customers with advice on new product specifications and fashion trends to help customers prepare for the new season's product line. During the track record period, our revenue came from the sale of major clothing products such as jackets, woven shirts, pullovers, pants, shorts, t-shirts, and other products such as vest jackets and accessories (including socks and bags). A breakdown of our earnings by product category during the relevant track record period is set out in the “Products” section. During our track record, our products have been sold to over 30 countries. The US and France are our two main markets. For the two years ended March 31, 2016 and March 31, 2017, our sales volume in the US market was approximately HK$69 million and HK$73.5 million, respectively, accounting for about 73.2% and 63.3% of total revenue; for the two years ended March 31, 2016 and March 31, 2017, our sales in the French market were approximately HK$8.2 million and HK$20.9 million, respectively, accounting for approximately 8.7% and 18.0% of total revenue, respectively. Our products are also sold in other European countries (such as the Netherlands and the United Kingdom) and other locations (such as Australia, Canada and Japan). During the track record period and as of the last practical date, we were authorized suppliers of brand products for Customer B and Customer F respectively. For details on our main markets and customers, please refer to the “Sales and Marketing” section of this section. During the track record period, some of our products were produced by Jiangmen Wansi Clothing Co., Ltd., accounting for about 6.0% of sales costs for the year ended March 31, 2017. With the exception of products produced by Jiangmen Wansi Clothing Co., Ltd., all products were produced by other manufacturers appointed by production suppliers or suppliers from trading companies for the two years ended March 31, 2017. For more information on our main suppliers, please refer to the “Procurement and Suppliers” section. We maintain strong relationships with suppliers and implement quality control procedures throughout the production process. The purchasing department follows up on the different stages of the supplier's production process to ensure that it meets the customer's specifications and requirements. The product is handed over to the quality controller for final quality inspection before being packaged and shipped. We also manage logistics arrangements for products to be shipped from manufacturers appointed by production suppliers and trading company suppliers to customers.