Sunny Festive. Sunny Festive Limited (“Sunny Festive”), a BVI business company incorporated in the British Virgin Islands, is 100% owned by Merry Gladness Limited. Merry Gladness Limited is a BVI business company incorporated in the BVI and a controlled subsidiary of Boyu Capital Opportunities Master Fund. Boyu Capital Opportunities Master Fund is an exempted company with limited liability incorporated under the laws of the Cayman Islands and an investment fund managed by Boyu Capital Investment Management Co., Limited (“BCIMCL”), a company with limited liability incorporated in Hong Kong. BCIMCL is 100% owned by Boyu Capital Investment Management Limited (“BCIM”), an exempted company incorporated under the laws of the Cayman Islands. Superior Leap Limited (“Superior Leap”), our existing shareholder holding approximately 2.29% of the total issued and outstanding shares of our Company as the date of this prospectus, is indirectly controlled by Boyu Capital Group Management Ltd (“BCGML”). Both BCIM and BCGML are controlled by Boyu Capital Group Holdings Ltd. (“Boyu Capital Group”). Boyu Capital Group is a leading China-focused investment firm providing growth and transformational capital for high-quality business franchises with sustainable growth in Greater China region across four main sectors including healthcare, consumer, technology, media and telecommunication and financial services. Due to the relationship disclosed above, Sunny Festive is a close associate of Superior Leap. We have applied for, and the Stock Exchange has granted, waiver from strict compliance with Rule 10.04 and consent under paragraph 5(2) of Appendix 6 to the Listing Rules so that Sunny Festive may participate in the Global Offering as a cornerstone investor.
