Dear Shareholders,

Over the last 46 years, the S&P restaurant and bakery business operation is committed to deliver good taste and services to all of the customers. Even though in some years we may face economic slowdown and natural disaster, we continue to strive and maintain the ability to deliver good products and services to meet the customers’ demand. With the “4 characteristics” of superb service, premium taste, clean place and welcoming atmosphere, our customers are guaranteed to be left with impression and return to use our service and also are ensured to be satisfied with our delicious, clean, hygienic food and welcoming service from our staff.

In 2019, as sustainable development seemed to be the focus of the world, S&P remains committed environmental in the sustainability, product quality and human resources development. With human resources being the heart and driving force of the business, we therefore build and improve our staff to be skilled, effective and valuable asset of the company by providing support in education in the form of S&P learning center with High Vocational Certificate where students will get to learn for free and work and grow within the organization. S&P aims to enhance the capability of its staff to be able to work in various fields and train staff in an executive level to be able to lead employees and drive the business so that S&P will remain a restaurant and bakery business that offers satisfying and hygienic services to customers.

On behalf of the board of directors, I would like to thank our shareholders, partners, customers, including all our executives and staff who supported and trust our company. In this 47th year, we reaffirm that our executives and staff will remain united in ensuring that S&P maintains our status at the top of the restaurant and bakery industry.