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22 July 2021

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.

Kok Cheng

Dear David, you wrote:


With increasing free cash flow, will Qian Hu consider increasing dividend payout? Thanks.

Hi David,,

We will progressively improve our dividend payout if our cash flow continue to be healthy.

Thank You!

Kok Cheng

Dear Eric, you wrote:

Can you give a more detailed update on the aquaculture business in Singapore?

1) Have you started any sales of live shrimps and fishes to the local market for consumption?

2) with the recent shutdown of Jurong Fishery, will it have a positive impact to Qian Hu, ie higher sales of local aquaculture business?

Hi Eric,

We operate a shrimp hatchery and grow-out farms in Singapore. We distribute these local produce together with other imported seafood to wholesalers, online retailers and restaurants. We supply fries and aquaculture feeds to local farmers.

The closure of the Jurong Fishery Port should have a positive contribution to Qian Hu as retail demand turns to alternative sources of fish supply. However, Singapore's Phase 2 (Heightened Alert) reduces restaurants demand for fishes with no dine restrictions. Overall, the net impact is neutral.

Thank You!

Kok Cheng

Dear Douglas, you wrote:

Has the pandemic affected your access to foreign workers? If so how did the company adapt to the new normal?

Hi Douglas,

Our workforce has been relatively stable during this pandemic.

Thank You!

Kok Cheng

Dear Derrick, you wrote:

Ever since Kim Kang, there have been no M&A activities. Have the company become adverse to risk via acquisition?

Hi Derrick,

We are actively looking for opportunities and technologies that aligns with our aquaculture expansion strategy. We will make an acquisition if we find the right fit.

Thank You!

Kok Cheng

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 2021 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 looks forward to our next online Q&A.

Kok Cheng