Hengdeli Holdings Limited (Hengdeli) is engaged in the retail and distribution of other middle-to-high-end consumer goods, including watch brands, the related after-sale services and other extended goods. It owns a retail network, which comprises Elegant, Prime Time/Hengdeli and With Time, and single-brand boutiques. As of December 31, 2010, it had 350 retail outlets, selling more than 50 brand watches, as well as middle-to-high-end jewelry and accessories in Mainland China, Hong Kong and Taiwan. As of December 31, 2010, Hengdeli had more than 300 wholesale customers in over 50 major cities in the People鈥檚 Republic of China. It also provides after-sale warranty services of branded watches within the Greater China region. On January 1, 2010, it acquired the retail business of Qingdao Hengdeli and Timepiece. On December 1, 2010, it acquired the retail business of Guangzhou Ruiyue. During the year ended December 31, 2010, the Company disposed its interest in Beijing Hengrui.

Hengdeli Holdings Limited has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since September 2005.

Retail Business
Hengdeli had an extensive sales network of 166 retail shops in PRC and Hong Kong, through which it distributed approximately 50 renowned international watch brands.

Wholesale Business
Hengdeli maintains good business relationship with various suppliers of world-renowned watch brands such as the Swatch Group, the LVMH Group, the Richemont Group, the Rolex Group and the Desco Group, and distributes 19 world-renowned watch brands, 17 of which are on an exclusive basis. Hengdeli also owns its own watch brands, Nivada, Olma and Numa Jeannin.

Customer Service
We are an authorised repair and maintenance agent for 34 watch brands. We have interactive customer service network in the Greater China region to offer even better services to customers.

Ancillary Business
We also engage in ancillary business to support our core businesses in retailing and wholesaling of luxury products, including the production of display boxes, sign boxes, props and watch boxes, as well as the undertaking of shop renovation, etc