About Venture Smart Asia Limited (“VSAL”)

VSAL, the investment manager of Lever VC, is a company incorporated in Hong Kong and whose registered office is at 23/F, Lee Garden Five, 18 Hysan Avenue, Causeway Bay, Hong Kong, and is a licensed corporation regulated by the Securities and Futures Commission of Hong Kong for types 1 (dealing in securities), 4 (advising on securities) and 9 (asset management) regulated activities pursuant to the Securities and Futures Ordinance. VSAL is a member of Venture Smart Financial Group (“VSFG”). The products mentioned above are available to Professional Investors only (as defined under the Securities and Futures Ordinance).

About DFP Capital

Hong Kong-based DFP Capital has been investing in the food and beverage industry since 2016, when it formed an equity fund in partnership with Tiantu Capital. Capitalized with more than RMB 1.5 billion (USD $214 million), the fund has invested in around 20 projects in mainland China, including Pagoda, a 4,000-outlet fruit retail chain, and Nayuki, a 400-outlet teahouse and bakery chain. DFP Capital also directly operates a dairy farm and a dairy processor in Australia and distributes its Nepean River Dairy brand products in an increasing number of high-end supermarkets and online in China, highlighting DFP Capital’s additional capacity in commercial operation.

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