" The Consideration for the Target Shares of RMB60.0 million (equivalent to approximately S$12.2 million based on the Exchange Rate) was arrived at on a willing buyer willing seller basis, after taking into consideration the price-to-earnings ratio of approximately 92 and 49 times of the profit after tax of the Target based on its audited financial statements for the previous financial years ended 31 December 2014 and 2015 respectively, and the business prospects of the Target."  

The Group may subsequently exit as a shareholder from the Target upon the completion of an initial public offering or trade sale by the Target which is expected to take place within 2 years from the date hereof."  

Mr. Zhang has one son and one daughter. He passed the baton to his daughter Zhang Yunlan. Ms. Zhang gave her remarks on the development of Red Collar, &ldquo Today&rsquo s Red Collar has largely been crafted by my father. In the third year after I took over the company, I went to Las Vegas for an exhibition. When I returned, I said to my father, &lsquo I&rsquo m very grateful to you, because you didn&rsquo t just leave me a big fortune and an insipid company&rsquo . Instead, what I&rsquo ve inherited from him is the core competitiveness and a platform. It&rsquo s a platform for me to bring into full play my strengths. My father has shown me the right direction. As long as I keep going in this direction, even sometimes I may walk slowly, our business won&rsquo t be consumed wrongly and perish.&rdquo The dream of Mr. Zhang and his daughter is to develop Red Collar into a creator, designer and promoter of the Internet industry and to facilitate the development of Internet-based industrial civilization.