Beijing Hengdeli was established, laying a solid foundation for Xinyu Hengdeli

Zhang’s Family invested in Beijing Hengdeli

Shanghai Xinyu was established a joint stock limited company focusing on the wholesale and retail of watches

Commenced reorganization of Shanghai Xinyu, Beijing Hengdeli, Shanghai Watch Shop and other companies of the Group

Established a joint venture, SMH Swiss Watch, with the Swatch Group, the largest global watchmaker and distributor

Formed a strategic alliance with Shanghai San Lian Group, Shanghai Oriental Commercial Building Ltd., and Shenzhen Hengjili World Brand Watches Centre Ltd.

Completed reorganization and ready for listing in Hong Kong

Acquired Elegant International, a well-established luxurious watch retail operator with 4 shops in Hong Kong, to expand the retail business into Hong Kong market

A memorandum of understanding was signed with the SWATCH Group to establish a joint venture to develop a retail network for the watches, jewelries and accessories of SWATCH and other brands

An acquisition agreement has entered with LVMH on 15 October in Milan, Italy, to purchase 90% equity stake of OMAS, the prestigious Italian brand of luxury writing instruments and leather goods, at a consideration of EURO 2 million.  Given the tremendous width and depth of the Group in Asia, especially Greater China, it will provide OMAS an incredible platform to grow its business in these high growth markets.