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24 July 2015

Dear friends,

Thanks for your questions posted over the past week. I am happy to answer your questions online. I will repost the questions in blue italics followed by my comments in black.

Kenny the fish

Dear Lee Chongmeng, you wrote:

1) The Straits Times reported today that quite a number of ornamental fish farms in Singapore are switching to selling food fish. May i know whether Qian Hu plan to follow suit? If not, will supply-demand equilibrium turn in favour of remaining ornamental fish farm like Qian Hu?

A: We are in the midst of creating more activities to increase the revenue for the group, the activities include aquaculture. We will make an announcement when things are more concrete. I always believe in the survival of the fittest and Qian Hu intend to be the fittest. Hopefully the supply-demand equilibrium turns in our favour.

2) May I know what is the sales of terrapins for Qian Hu? Is it on a uptrend? Does Qian Hu sell accessories for terrapin breeding?

A: We sell terrapins but I can't disclose the sales figure. There are hobbyists who keep fishes, terrapins and ornamental shrimps. Thus it is not so much of a trend but a constant customer mix. Yes, we sell accessories for reptiles, small animals, lobsters and shrimps.

3) May I know what is the sales of invertebrates like lobster, shrimps for Qian Hu? Is it on a uptrend? Does Qian Hu sell accessories for invertebrates breeding?

A: Please refer to the answer to Question 2 above.

4) Interest rates are rising, does Qian Hu intends to lower its debt quickly?

A: We are aware of the rising interest rate environment. We will lower our debt according to operational and cash flow needs.

Thank you!

Kenny the fish

Dear Paul Tan, you wrote:

After you consolidate your share 4 into 1, it will trade around S$0.25. If the share price drop below S$0.20 again, what will you do?

Hi Paul,

There are many options we can take if it happened. We can move to the Catalist board, activate our share buyback scheme, take Qian Hu private, etc. We will make the most sensible and responsible decision then.

Thank you!

Kenny the fish

Dear Tony Lim, you wrote:

Kim Kang didn't repay the second instalment of S$1.24 million on March 2015. When will you sell the land? What if nobody wants to buy the land?

Hi Tony,

Qian Hu is exploring the options of either renting out or selling the land. The land can be sold quite easily, depending on the selling price.

Thank you!

Kenny the fish

Dear Serene Chan, you wrote:

Will you pay a dividend for FY2015?

Hi Serene,

Barring unforeseen circumstances, Qian Hu has been declaring dividend every year.

Thank you!

Kenny the fish

Thanks again to all the investors who have posted their questions here. I hope I have answered them to your satisfaction. The next chance for us to correspond again will be the time when we announce our Full Year 2015 results. In the meantime, do feel free to visit our corporate website: http://www.qianhu.com/ and our IR website: http://qianhu.listedcompany.com/ for more information.

Take care and I look forward to our next online Q&A.

Kenny the fish