About AUSTASIA GROUP Company

Australia and Asia Group Limited (“we”) was established in 2009. It has two main businesses, raw milk and beef cattle, and also sells dairy products under its own brand “Australia and Asia Ranch”. We have a diverse customer base in China. Our raw milk business customers include leading national and regional dairy producers and emerging dairy brands; beef cattle customers include food service companies and high-quality beef processing companies; and customers selling dairy products include large cafes, milk tea shops, bakeries and refreshment chains. As of June 30, 2022, we have more than 0.11 million1,400 heads of dairy cows, and more than 0.02 million8,100 heads of beef cattle. In 2021, the annual production of raw milk was about 0.63 million8,800 tons. We are the first operator in China* to design, build, and operate large-scale, standardized dairy farm with a scale of more than 10,000 cows. The average milk yield per adult cow is a key indicator of farm output and efficiency, and we ranked first in the country for seven consecutive years from 2015 to 2021. In 2021, our average milk production per adult cow reached 12.7 tons/year, far exceeding the industry average of 8.7 tons/year and the average of the top five dairy farm operators in China of 11.5 tons/year*. *Based on Frost & Sullivan data