January 1, 2020

To our stakeholders and the public.

We start this year with the Coronavirus-19 epidemic and we are working with confidence to overcome all the related challenges. Our staff and company remains healthy which is and always will be our main priority.

Over the last decade we have grown substantially despite challenging global market conditions. Today we own and operate four world wide brands which are all leading in their market positions. Our outlook over the next decade is highly optimistic with continued position of world leading brands and world-class craftsmanship.

Our state-of the art yacht manufacturing facility is the worlds’ largest, producing the finest and latest model power catamaran yachts, sold all over the world. Our North American divisions and markets continue to thrive with our highly successful range of market leading Aquila power catamarans.

Moving forward our vision is to maintain our lead in the world, by continually refining our cutting-edge design and manufacturing technologies, and environmentally conscious building practices, for continued quality production. We will remain focused on exemplary customer service, employee and technical investments, and enhancements to keep ahead of our competitors, while continuing to manage our business to create long term partner and investor value.

With our highly skilled and valued employees and our philosophy of continuous improvement in providing quality composite products to the global marketplace, our outlook is to continue strengthening our positions, offerings and competitiveness in water sports lifestyle and global carbon composites market places.

Sincerely,

John Xiong

C.E.O. Sino Eagle Group