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Chateau Investor Presentation 2021

Nov 16, 2021

52188_rns_2021-11-16_3e0ddc19-4ad5-4175-a760-89a924f77799.pdf

Investor Presentation

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Chateau International Development Co.,Ltd. Reported by: Kelly, Chang / C F O Date:November 17,2021

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Company Profileompany Profiille Market profile

Performance

Prospect

Company Profile-BusinessInformation

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Chateau International Development Co., Ltd.

Listed on March 14, 2012 (Code: 2722) Date of September 27,1995 Establishment No.15, Aly. 2, Ln. 40, Shengbei Rd., Hengchun Township, Pingtung Address Hsieng, Taiwan, ROC Content of General hotel lodging, restaurant, recreational facilities,beach, travel Business information service President Xie-Toug,Chen G.Manager Qing-Qi, Wang Capital NT$1,115,229,610 Number of 442(October, 2021) Employees Substantial GuanTianInvestment & Development Co., Ltd.(29.43%) Shareholders Chung Shin Development Co., Ltd. (20.16%)

Company Profile-ManagementPhilosophy

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"Customer Oriented” and “People Oriented”

Château insists that the “Customer Oriented” service principle and the “People Oriented” management spirit gives our employees a strong sense of honor and mission for our work, and cultivates within them “ active, passionate, happy and thoughtful ”properties . The "workplace-is-home "atmosphere impressed all our employees and inspired us to make such an atmosphere for our customers. It not only closes the distance between them and upgrades employees’ self-value, but also creates a natural and sincere image of our hotel. So as to upgrade the domestic leisure industry to have a brand value of starting from the heart.

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Company Profile- Company Chronicle

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1995~2000
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2009
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2011
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  • In August, public offeringof stocks approved by Securities and Futures Bureau, Financial Supervisory Commission, ExecutiveYuan.

  • In July, the silver medal of Taiwan TrainQuali System(TTQS) issued by the Vocational Training Bureau of Council of Labor Affairs, Executive Yuanwas

  • In December, obtained operating right of Kenting Forest Recreation Area Waterfront from Council of Agriculture, Executive Yuan.In October, Chateau Beach Resort Kenting Hotel was opened to thepublic and operated officially.

  • acquired.

  • In September, the stock trading was approvedby Gre Tai Market and the trading wasopened officially on September17.

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2014~2015
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2016
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2018
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  • In September, the silver medal of Taiwan Train Quali System(TTQS) issued by the Vocational Training Bureau of Council of Labor Affairs, Executive Yuan was acquired.

  • In June, the five-starhotel stamp was issued by the Tourism Bureau of the Ministry of Communications.

    • In April, Chateau Hotel Anping Official opening.

    • In July, Fu Lang became a subsidiary of Chateau.

  • In December, the Vocational Training Council of the Labour Board of the Executive Yuan awarded the Silver Medal for the Training Quality Assessment System(TTQS).

  • In July, the Food and Drug Administration of the Ministry of Health and Welfare of PingtungCounty Government HealthBureau granted HACCP health assessmentcertification.

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2012
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  • In March, the application for listing was approved by Taiwan Stock Exchange and Financial Supervisory Commission, Executive Yuan.

  • In August, QualicertService Certification of SGS Certification was obtained.

  • In October, 5-Star Hotel Mark issued by Tourism Bureau,Ministry

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2019
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  • In July, the Vocational Training Council of the Labour Board of the Executive Yuan awarded the Silver Medal for the Training Quality Assessment System (TTQS).

Company Profile- Product introduction

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Chateau Beach Resort Kenting

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Chateau Hotel Anping

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Company Profile - Product introduction

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Innovative leisure concept allows travelers to fully enjoy the relaxation of body and mind Kenting- Chateau Beach Resort Kenting

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Company Profile - Product introduction

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Enjoy the sun, the beach and the ocean, and a relaxing holiday Kenting- Chateau Beach Resort Kenting

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PROVENCEHALL

MARBELLA HALL

POSITANOHALL

Establishment: 1998

Establishment: 2003

Establishment: 2007

The Pro Pavilion is named after Provence in the south of France. It is a building made of golden and royal blue. It embraces the warm sunshine and the blue sky of South France Provence. The pavilion is connected with the blue and blue of the palm kernel. The ocean is more leisurely

The Mabeiya Pavilion is nestled in a beautiful beach and ocean. The soft and lustrous colors of lemon yellow and pink are intertwined with the sparkling light of the sea, creating a Mediterranean-like sense of leisure and beauty. Marbella's original meaning of Spain - the beautiful sea, gives people deep thoughts.

Positano is the most beautiful town on the Amalfi coastline in southern Italy. Legend has it that Positano was built by Poseidon, the goddess of love, by Poseidon! There is a warm sunshine, a blue sky, dazzling sea water, and a sway in the blue sky and blue sea. This is also the deep meaning of the Positano Pavilion - the pearl of the coast.

Company Profile - Product introduction

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Enjoy the delicacies of all countries, exotic and precious Kenting- Chateau Beach Resort Kenting

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AEGEANWESTERN RESTAURANT The journey requires not only good scenery, but also good food to satisfy the hackers. A variety of international cuisine, homemade grills, PIZZA, seafood and other buffet- style food.

ATAMI RESTAURANT MEDITERRANEANBANQUET BEACH-SIDE DINING &BBQ HALL AREA Open with Aegean Nestled in the sea and the With the orchestra playing, Western Restaurant, it Chinese antique collection, there are many kinds of serves buffet style it offers exquisite seafood foods such as barbecue, breakfast and dinner, dishes, Chinese cuisine, and roast suckling pig and bringing you a feast of vegetarian set menus, seafood under the stars. the world. _ suitable for wedding Poolside BBQ is available banquets, group meetings, during the summer and family dinners. months.

Company Profile - Product introduction

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Enjoy the most leisurely time withfriends Kenting- Chateau Beach Resort Kenting

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OCEAN VIEWCAFÉ

MATISSEBAR

BARBADOS BAR

Service Hours:09:30am~24:00am Meal Service :09:30am~23:30pm Afternoon Service:

10:30am~16:30pm Location: PROVENCE HALL2F

Provide Delicate snacks, afternoon tea, light meals, set menus, internet and box service. It is also home to many well-known film viewing

Service Hours:10:00am~24:00am Meal Service :10:00am~23:30pm

Afternoon Service: 10:30am~16:30pm

Location:POSITANO HALL3F

The open seating space overlooks the lobby and offers exquisite snacks, afternoon tea, light meals, set menus, and bakeries.

Service Hours :Adjustment of seasonal variations

Location:Outdoor Swimming Pool Area

Swinging the thatched grass, the sea breeze, the beach sea view, sitting in the beach bar to sip multi-national beer, bartending, juice drinks.

Company Profile - Product introduction

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Enjoy the independent space, choose a large conference hall, the best choice foracademic seminars Kenting- Chateau Beach Resort Kenting

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MICHELANGELO CONFERENCEROOM

Location::POSITANO HALL2F

Separate meeting space for up to 40 medium-sized meeting rooms, providing classroom and theatre stylespace.

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MEDITERRANEAN BANQUETHALL

Location::POSITANO HALL1F

The high-profile banquet hall and the banquet service of the guests and guests can provide 250 people meeting space, product display, academic discussion and the best venue choice for variousactivities.

Company Profile - Product introduction

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Enjoy the sun, the beach and the ocean, and a relaxingholiday Kenting- Chateau Beach Resort Kenting

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Beach Wedding

Standing in the temple on the beach, exchange vows before the blue ocean. Pure shell beach, white toast sofa, light white spray, perfect moment, summer is the dream for you.

Garden Wedding

The grassy garden next to the waterfront nourishes all kinds of tropical vegetation in the South Sea. Embrace the baptism of the sun, the green, and the ocean

Fira Square Wedding

The Shanmeng Oath Square will have a panoramic view of the bus strait. Relying on the southern landmark of the country, Dajianshan overlooks the 180-degree beach and the swimming pool. Take the day as evidence and the land as the alliance. Here, exchange each other’s pledges

Company Profile – Product introduction

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Embrace the sea and look at the mountains, challenge yourself Kenting- Chateau Beach Resort Kenting

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MARINEACTIVITIES LAND-BASED FAMILYCLASS ACTIVITIES Ocean View Swimming Little Star Club Shell Beach Pool Green Belt Coastal Trail DIY HobBie Cat Ocean View Workout Gym Sand Crab Body Boarding Hunting Bow Shooting SUP Teaching Kayak Beach Volleyball Woodball Golf

INDOORLEISURE Amusement Park Leisure Center Customized group activities

Company Profile – Product introduction

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The journey of the intellectual and humanistic city allows travelers to fully enjoy the relaxation of body and

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mind. Tainan- Chateau Hotel Anping

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Company Profile – Product

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Create the most comfortable andcomfortable rest,slow down your mind and pace,and explore your own journey landscape

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Tainan- Chateau Hotel Anping

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Stylish Room

General Room

Establishment: 04.2018

Establishment: 04.2018

Anping Suite|Grand Deluxe Room

Anping Suite|Grand Deluxe Room |Chateau Suite |Deluxe Room

The model of the best art aesthetics is based on the style of selected design.

For the most comfortable and comfortable accommodation for travellers, the travellers can enjoy a relaxing space in their rooms to rejuvenate their journey for tomorrow.

Company Profile – Product introduction

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Enjoy the delicacies of all countries, exotic and precious Tainan- Chateau Hotel Anping

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City Cuisine

With a spacious and stylish dining environment, the City Cuisine Buffet has about 200 seats and live Live singing, which not only provides you with a refined dining atmosphere, but also selects a variety of fresh ingredients from the south of the country. The great Baihui feast meets your discerning taste buds with exquisite taste and rich flavor.

SZU Café

From time to time, freshly baked bakeries, the aroma attracts people to stop, and a cup of finely ground glamorous coffee. In a harmonious and comfortable space, gaze at the lazy afternoon of Fucheng, a cup of warm coffee, away from the noisy city, and enjoy the monologue of contemplation with yourself.

Challewangh Lounge

The industrial-style Challewangh Lounge in the tall buildings of the ancient capital of Tainan, tastes the fashionable night scenes of the old city and ancient memories.

Company Profile – Product introduction

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Enjoy the independent space, choose a large conference hall, the best choice for academic seminars. Tainan- Chateau Hotel Anping

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XUAN Function Rooms

Location:3F

To meet the needs of your family dinner, company meetings, family gatherings or banquets, City Travel Club has designed a mobile compartment with elegant compartments that can be adapted to different spaces. In addition to the box space, there is also a city hall that can accommodate multi-person gatherings as a banquet and conference area, so that you can enjoy the free time and the rich and beautiful time.

Company Profile – Product introduction

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. The perfect moment, Chateauis alife dream for you, dedicated to your love partner Tainan- Chateau Hotel Anping

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Chateau Ballrooms

Wedding Venue

The solemn and simple space and sincere service, whether it is a touching wedding banquet, a celebration of the end of the year, or a meeting of corporate groups, can be used in a multi-functional Xiadu banquet hall with different needs. Meet every time of warmth and joy.

Under the sky to witness the eternal sweet joy, the elegant marriage venue is the best blessing for the newcomers, and each other's moving vows are as warm as the morning sun. Fucheng walks with you to the happy stage of life, leaving a beautiful memory.

Company Profile – Product introduction

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Roaming the ancient city, a relaxed and relaxing holiday

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Tainan- Chateau Hotel Anping

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Playground

GYM

My Space

Sky Park

The 200-pyeong jungle design and the two-storey city and FUN space are the only indoor and outdoor swimming areas in the Tainan area. In this safe and fun game space for kids, the children's innocent laughter makes the air full of joy.

we Provide all tourists professional and comfortable environment.

Aside from the hustle and bustle of life, the tired luggage that puts down the journey, the city heart and the space provide you with a sincere and sincere service. Not only will you be able to offer free drinks and snacks to all travellers at all times, but you will be able to recharge your energy and re-enter the city's exciting

Overlooking the fascinating silhouette of the city; embracing the entire city of the city, listening to the centuries-old anecdote of the ancient capital; Feel the unique enthusiasm of the southern warm sun, the city park Sky Park and nature to create the most quiet and comfortable space, let you forget all the troubles in life.

journey.

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Company Profile Market profileMarket profile

Performance

Prospect

Marketprofile

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Number Changes of Visitors who visited Taiwan and Travel by R.O.C. Citizens in the Past Decade

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Source: “ Tourism Yearly Statement “ of Tourism Bureau, Ministry of Transportation Executive Information System

Market profile

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Number Changes of Visitors who visited Taiwan and Travel by R.O.C. Citizens in the Past Decade

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2,335,564
outbond
17,101,335
Outbound : -86.34%
1,377,861
inbond inbound : -88.72%
11,864,105
0 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000
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inbond outbond
2020 1,377,861 2,335,564
2019 11,864,105 17,101,335

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Source: "Tourism Yearly Statement“ of Tourism Bureau, Ministry of Transportation Executive Information System

2020 2019

Market profile

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Numbers Changes of Inbound Tourism in the Past Decade

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Source:“ Tourism YearlyStatement” of Tourism Bureau, Ministry of Transportation Executive Information System

Market profile

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Number and Ratio Changes of Visitors who visited Taiwan by Purpose of Visit in the Past Decade

ecade ecade ecade ecade ecade ecade ecade ecade ecade
business
Sightseeing
visiting relative
Conference
Studt
Exhibition
Medical
Other
-700,000
300,000
1,300,000
2,300,000
3,300,000
4,300,000
5,300,000
6,300,000
business
Sightseeing
visiting
relative
Conference
Studt
Exhibition
Medical
Other
2020
81,324
694,187
79,882
3,831
19,489
745
8,191
490,212
2019
746,115
8,444,024
478,220
76,308
80,630
18,320
55,937
1,964,551
2020
2019
Sightseeing:-91.78%
business Sightseeing visiting
relative
Conference Studt Exhibition Medical Other
2020 81,324 694,187 79,882 3,831 19,489 745 8,191 490,212
2019 746,115 8,444,024 478,220 76,308 80,630 18,320 55,937 1,964,551

Source: “Tourism Yearly Statement” of Tourism Bureau, Ministry of TransportationExecutive Information System

Marketprofile

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Growth and Trends of Visitors who visited Taiwan from Main Source Countries in the Past Decade

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Source:“ Tourism YearlyStatement” of Tourism Bureau, Ministry of Transportation Executive Information System

MarketProfile

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Tourist hot els ope ra t ion prof ile :

2021/01~2021/06 No. of Rooms Occupied & Revenue No. of Rooms Occupied & Revenue
No. of Occupancy Average
Rooms
Food & Beverage
Region Rooms Occupied Rate Room Rate Income Income Total
New Taipei City 55,562 28.39% 3,612 200,688,730 183,065,724 455,378,774
Taipe iCity 482,217 23.97% 3,325 1,603,291,789 4,699,764,118 7,378,302,606
Taoyuan City 122,267 30.47% 3,039 371,545,906 453,921,283 908,059,805
Taichung City 145,255 47.97% 2,453 356,312,036 417,561,373 887,781,771
Tainan City 104,605 50.33% 3,281 343,170,695 327,192,641 736,152,016
Kaohsiung City 213,193 29.80% 2,686 572,703,640 1,094,701,632 1,884,767,451
Yilan County 96,531 44.60% 6,326 610,684,282 451,729,900 1,217,761,536
Hsinchu County 32,731 23.48% 3,198 104,687,859 136,310,368 274,577,160
Miaoli County 14,690 42.49% 2,270 33,340,533 16,935,857 51,213,945
Nantou County 33,371 46.25% 12,968 432,749,867 139,158,015 623,703,702
Chiayi County 19,694 46.10% 5,077 99,992,558 46,032,347 148,608,881
Pingtung County 80,103 45.48% 4,116 329,706,785 68,655,440 414,846,441
Taitung County 70,804 49.14% 3,948 279,534,010 175,788,781 511,828,224
Hualien County 95,099 39.01% 6,244 593,795,339 198,493,337 864,267,812
Penghu County 22,691 30.65% 3,036 68,888,814 70,673,576 155,039,828
Keelung City 13,591 58.86% 2,560 34,794,673 20,350,365 69,858,606
Hsinchu City 32,515 38.63% 2,709 88,082,338 203,738,551 314,356,641
Chiayi City 18,543 28.07% 2,405 44,596,293 70,002,467 119,004,394
Kinmen County 1,750 20.57% 1,454 2,544,423 206,080 2,831,003
Total 1,655,212 32.08% 3,728 6,171,110,570 8,774,281,855 17,018,340,596
YOY 74,294 1.68% 85 411,983,867 27,313,066 233,175,371

Source: “ Tourism Yearly Statement“ of Tourism Bureau, Ministry of Transportation Executive Information System

Market Profile

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St andard hot els ope ra t ion prof ile :

2021/01~2021/06 No. of Rooms Occupied & Revenue No. of Rooms Occupied & Revenue
No. of Occupancy Average Room
Rooms
Food & Beverage
Region Rooms Occupied Rate Rate Income Income Total
New Taipei City 606,876 26.29% 3,083 1,870,972,827 982,663,899 3,415,946,582
Taipei City 1,872,448 32.41% 2,234 4,182,187,740 1,318,362,422 6,363,523,942
Taoyuan City 587,122 30.13% 2,065 1,212,530,479 241,848,083 1,667,320,518
Taichung City 1,336,877 34.32% 2,462 3,292,004,060 677,852,235 4,311,798,414
Tainan City 762,941 37.16% 2,304 1,757,824,538 609,425,352 2,523,732,534
Kaohsiung City 1,175,515 32.90% 1,825 2,145,626,446 443,970,019 2,845,447,981
Yilan County 483,971 31.16% 3,240 1,568,237,736 417,374,236 2,114,725,494
Hsinchu County 64,324 27.66% 3,334 214,469,599 55,111,142 314,947,752
Miaoli County 119,391 29.89% 2,923 348,950,524 130,236,243 531,204,513
Changhua County 140,931 32.49% 2,178 306,933,769 31,517,357 369,766,674
Nantou County 249,148 21.34% 2,720 677,567,059 197,118,137 910,922,406
Yunlin County 132,755 27.29% 1,973 261,872,161 75,452,493 372,215,039
Chiayi County 129,910 28.90% 2,308 299,873,880 53,495,568 368,400,322
Pingtung County 223,404 26.62% 2,604 581,759,752 121,396,666 761,311,811
Taitung County 354,411 25.60% 2,343 830,231,020 180,707,642 1,051,713,006
Hualien County 424,707 27.36% 2,383 1,012,102,975 213,306,552 1,299,806,682
Penghu County 95,322 19.62% 2,149 204,860,975 54,672,870 284,781,899
Keelung City 53,144 22.34% 1,766 93,851,251 14,135,947 130,539,898
Hsinchu City 223,311 36.88% 2,324 519,073,734 236,158,273 839,216,064
Chiayi City 302,240 35.03% 1,927 582,484,356 124,368,377 733,568,115
Kinmen County 72,031 27.44% 2,172 156,480,087 49,455,821 207,980,261
Lianjiang County 6,257 20.92% 1,929 12,070,478 3,453,147 16,503,181
Sub Total 9,417,036 30.84% 2,350 22,131,965,446 6,232,082,481 31,435,373,088
YOY 791,083 0.36% 248 4,000,884,574 637,021,842 4,130,488,875

Source: "Tourism Yearly Statement“ of Tourism Bureau, Ministry of Transportation Executive Information System

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Company Profile Market profile

PerformancePerformance Prospect

Performance

Scenic Tourist Hotels Operating Total Revenue Ranking in 2020 Chateau Beach Resort Kenting

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Unit:%

NO. Name of Hotel Revenue ratio
1 Fleur De Chine Hotel 14.23%
2 Hotel Royal Chiao-His 12.80%
3 Caesar Park Hotel Kenting 10.26%
4 Château Beach Resort 9.61%
5 Silks Place Hotel, Taroko 9.24%
6 The Lalu Sun Moon Lake 8.86%
7 Hotel Royal Chihpen Spa 7.38%
8 Howard Beach Resort Kenting 7.35%
9 Alishan House 4.36%
10 HOTEL CHAM CHAM 3.33%
Other 12.57%
Total 100.00%

Source: “Tourism Yearly Statement” of Tourism Bureau, Ministry of Transportation Executive Information System

Performance

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Consolidated Balance Sheet

Unit:%, NTD(thousand) Unit:%, NTD(thousand) Unit:%, NTD(thousand) Unit:%, NTD(thousand) Unit:%, NTD(thousand) Unit:%, NTD(thousand) Unit:%, NTD(thousand)
Balance Sheet 2021/9/30 2020/12/31 2020/9/30
Total current assets 506,636
18.93

396,500
15.42 367,271 14.37
Total non-current assets 2,169,548
81.07

2,174,300
84.58 2,188,902 85.63
Total assets 2,676,184
100.00

2,570,800
100 2,556,173
100.00
Total current liabilities 400,672
14.97

413,796
16.1 442,671 17.32
Total non-current liabilities 254,820
9.52

184,180
7.16 204,811 8.01
Total liabilities 655,492
24.49

597,976
23.26 647,482
25.33
Ordinary share -
Total capital surplus 1,115,229
41.67

1,115,229
43.38 1,115,229 43.63
Total retained earnings 170,663
6.38

170,663
6.64 170,663 6.68
Total other equity interest 442,137
16.52

512,189
19.92 496,180 19.41
Total equity attributable to
owners of parent
163,112
6.09

40,673
1.58 (7,821) ( 0.31)
Non-controlling interests 1,891,141
70.67

1,838,754
71.52 1,774,251
69.41
Total equity 129,551
4.84

134,070
5.22 134,440 5.26
Total liabilities and equity 2,020,692
75.51

1,972,824
76.74 1,908,691
74.67
Balance Sheet 2,676,184
100.00

2,570,800
100 2,556,173
100.00

Source: The Taiwan Stock Exchange Inc. & Gre Tai Securities Market

Performance

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Statement of comprehensive income (Consolidated)

Unit:%,NTD(thousand) Unit:%,NTD(thousand) Unit:%,NTD(thousand) Unit:%,NTD(thousand) Unit:%,NTD(thousand) Unit:%,NTD(thousand) Unit:%,NTD(thousand)
Income Statement Nine months end September 30
2021 % 2020 % yoy %
Total operating revenue 389,339 100.00 558,005 100.00 (168,666) (30.23)
Total operating costs 267,057
68.59
310,180 55.59 (43,123) (13.90)
Gross profit (loss) from operations 122,282
31.41

247,825

44.41

(125,543)
(50.66)
Selling expenses 122,282
31.41

247,825
44.41
(125,543)
(50.66)
Administrative expenses 161,503 41.48 181,225 32.48 (19,722) (10.88)
Total operating expenses 4
0.00
0 0.00 4
#DIV/0!
Net other income (expenses) (39,217) (10.07) 66,600 11.94
(105,817)
(158.88)
Net operating income (loss) 21,275 5.46 16,137 2.89 5,138 31.84
Total non-operating income
and expenses
(17,942) (4.61) 82,737
14.83

(100,679)
(121.69)
Total tax expense (income) 867 0.22
14,010
2.51
(13,143)
(93.81)
Profit (loss) (18,809) (4.83) 68,727 12.32
(87,536)
(127.37)
Profit (loss), attributable to
owners of parent
(14,290) (3.67) 70,919
12.71

(85,209)
(120.15)
Profit (loss), attributable to
non-controlling interests
(4,519) (1.16) (2,192) (0.39) (2,327) 106.16
Total basic earnings per share (0.13) 0.64 (0.77) (120.31)

Source: The Taiwan Stock Exchange Inc. & Gre Tai Securities Market

Performance

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Operating Total Revenue

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Operating Total Revenue
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753,006
738,026 736,669
727,967
714,025
663,225
655,827 [670,301]
601,413 [610,539][622,468]
545,610
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
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Source: Chateau International Development Co., Ltd.

Company Profile –Revenue Distribution

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Nine months end September 30 of 2020 and 2021

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Other
Other
Food &
Food & Income,
Income,
Beverage
Beverage 4,708 ,1%
7,986 ,1%
Income,
Income,
100,670 ,26%
144,469 ,26%
Rooms Rooms
Income, Income,
405,487 ,73% 283,903 ,73%
Unit: NT$thousand
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Nine months end September 30 Nine months end September 30 Nine months end September 30 Nine months end September 30
2020 2021
Items Amount % Amount %
Rooms Income 405,487 72.68% 283,903 72.93%
Food & Beverage Income 144,469 25.89% 100,670 25.86%
OtherIncome 7,986 1.43% 4,708 1.21%
Total 557,942 100.00% 389,281 100.00%

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Company Profile Market profile Performance ProspectProspect

Prospect- Operations Plan

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Operations Plan

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1.Build Brand Value To 1.Build Brand Value
To Enhance Enhance
Competitiveness Competitiveness
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2.Cultivate Deeply 2.Cultivate Deeply
To Integrate To Integrate
Vertically Vertically
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CHATEAU CHATEAU
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4.Develop New
Stronghold to
Enrich Operational
Efficiency
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3. Diversified Strategies 3. Diversified Strategies
To Meet with To Meet with
Different Groups of
Different Groups of Customers’ Need
Customers’ Need
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&A Q