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22 July 2019

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 Francis, you wrote:

May I know what are the types of edible fish that fetched higher margins boosted your 2Q2019 profit?

Hi Francis,

This year we are dealing with more types of edible fish such as Groupers, Sand Corby commonly known as Soon Hock, etc. All of them have respectable margins and helped to increase the edible fish revenue and profit.

Kenny the fish

Dear David, you wrote:

Congrats your handling income has grown from S$1.4M in FY2018 to S$2M in 6M19. Looks like it has grown 43% in just 6 months. How did it grow so fast in just 6 months?

Hi David,

Thank you for your kind words. We are increasing the varieties of edible fish we farm and trade. This is why the handling income has increased.

Kenny the fish

Dear William, you wrote:

Do you have any plans to raise capital to expand the aquaculture business in Hainan?

Hi William,

Our current cash flow is sufficient to fund the expansion of the Aquaculture business in Hainan.

Kenny the fish

Dear Derrick, you wrote:

You are scaling down your Dragon fish business. When do you see this line of business picking up? I think it has not been doing well for the past decade.

Hi Derrick,

The Dragon fish business may come back when all the weak players exit the business. We are still coming up with new varieties of Dragon fish but it would take a while. We are reallocating some Dragon fish facilities to the edible fish business.

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 2019 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