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Corporate Presentation

Disclaimer This document has been prepared by the Company for a limited number of recipients and for information purposes only. Please do not forward this document to any third party. This document does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to purchase or subscribe securities of the Company nor shall there be any sale of such securities in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or country. 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Agenda Offering Summary P. 3 Presentation Team P. 4 Company Overview P. 5 Industry Overview P. 11 Investment Highlights P. 14 Financial Highlights P. 22 Business Strategies & Use of Proceeds P. 28 2

Offering Summary Issuer n Morris Holdings Limited (慕容控股有限公司) Offering Structure n Offering size: 250, 000 Shares (subject to the Over-allotment Option) n Placing: 225, 000 Shares (90%) (subject to adjustment and the Overallotment Option) n Public Offer: 25, 000 Shares (10%) (subject to adjustment) Price Range n HK$1. 05 – HK$1. 31 per Offer Share Listing Venue n The Main Board of The Stock Exchange of Hong Kong Limited n Stock Code: 1575. HK Expected Timetable n Hong Kong public offer: 30 December 2016 – 5 January 2017 n Announcement of pricing and allocation: 11 January 2017 n Listing: 12 January 2017 Sole Sponsor, Sole Global Coordinator and Sole Bookrunner n Sinolink Securities (Hong Kong) Company Limited Joint Lead Managers n Sinolink Securities (Hong Kong) Company Limited n China Galaxy International Securities (Hong Kong) Co. , Limited 3

Presentation Team Mr. ZOU Gebing (鄒格兵) Chairman, CEO and Executive Director Mr. CHEN Guohua (陳國華) Mr. XU Jing (徐景) Executive Vice President and Executive Director Head of Capital Market 4

Company Overview

Company Overview Recognized Market Leader in the PRC-based Sofa Export Industry Integrated Business Model § The second largest PRC upholstered sofa manufacturer in terms of export value to the U. S. in 2015 § Strategic focus on OBM segment (64. 9% of 2015 revenue) while also offering OEM & ODM services § Mainly targets at overseas consumers in the U. S. , Canada, United Kingdom, Australia and the PRC markets with greater demand on quality and functionality § Excellent design and R&D capabilities with 40+ in-house staff members, with the support from a U. S. designer and a consultancy firm § U. S. market accounted for more than 90% of total sales § New production facility in Cambodia currently in construction. Sofa production capacity expected to increase by Self-owned Brands with Effective Marketing Channels § 10. 7% Effective marketing through U. S. exhibitions and the Company’s showroom in North Carolina High Growth in Profitability Adjusted Net Profit and Adjusted Net Profit Margin* Gross Profit and Gross Profit Margin (%) RMB (millions) 250 ： 5. 8% +CAGR 200 150 20. 0% 20. 9% 23. 7% +20. 5% 28. 9% 24. 7% 40% RMB (millions) 60 Profit Margin (%) % . 8 R： 25 +CAG +70. 1% 30% 15% 40 9. 4% 20% 100 10% 50 0 196. 6 172. 6 219. 9 2013 2014 2015 Gross Profit 139. 3 167. 9 8 M 2015 8 M 2016 Gross Profit Margin 0% 20% 10% 20 0 5. 7% 3. 4% 3. 0% 33. 5 24. 4 53. 1 2013 2014 2015 8 M 2016 5% 32. 0 54. 5 Strong Long Term Relationships with Customers 0% Adjusted Net Profit § An average of 7 years of business relations with our top 5 customers during Track Record Period *Adjusted Net Profit = Net Profit + Listing Expenses – Disposal Gain – Exchange Gain 6

Corporate Milestones q We set up the Haining R&D Center q We extended our business from OEM to ODM q We commenced showcase of our sofas at High Point Market q We launched “Morris Zou” brand for sofa and wood based furniture products sold in the PRC q We established our first direct sale store in Haining City q Expected to be listed on the Main Board of the SEHK 2017 2015 2014 2013 2010 2005 2003 2002 q Mr. Zou joined Morris Group Co. , Ltd. and set up the sofa and wood based furnitures business q Began the export of sofa to the U. S. q We launched “Morris Holdings Limited” brand for sofas exported to the U. S. q We extended our business from ODM to OBM q We began preparing for the construction of our production facilities in Cambodia q We established our second direct sale store in Jiaxing City 7

Shareholding Structure Post-IPO (Pre-Greenshoe): (Note) Mr. Zou Ms. Wu 15% 85% Public Shareholders Morris Capital Limited (BVI) 25% 75% Morris Holdings Limited (Cayman Islands) 100% Morris International Group Limited (BVI) 100% Masia Investments Limited (BVI) 100% Masia Industries Co. , Ltd. (Cambodia) 100% Musa International Limited (BVI) 100% Mstar International Group (HK) Limited (HK) 100% Mozo Investments Limited (HK) 100% Morris Zou Limited (HK) 100% Mstar Home Furnishings Limited (BVI) 100% Mstar International Trading (HK) Limited (HK) PRC Offshore PRC Onshore 100% Haining Gelin Furniture Co. , Ltd. (PRC) 100% Haining Morris International Home Furnishings Co. , Ltd. (PRC) 73. 17% Zhejiang Apollo Leather 26. 83% Products Co. , Ltd. (PRC) 51% Note: Ms. Wu is the spouse of Mr. Zou Haining Morris Home Gallery Co. , Ltd. (PRC) 49% 8

Integrated Business Model OEM ODM OBM Customer provides design, specifications and samples Design and development with customer’s general concept We design and evaluate new conceptual design Counter samples made and provided to customer for approval Prototypes made for customer’s selection Customer’s approval of design and specifications Model or sample sofas are shown to customers or at exhibitions Customers choose their preferred model, sample sofa under our own brands Product Design Haining R&D Centre U. S. Designer Feedbacks Product Design Customer places order Production Products Company sales department U. S. agent and consultancy firm Customer Feedbacks Customers i. e. some of which are the largest furniture retail chains and retail warehouse clubs in the U. S. Stationary Sofas Motion Sofas Sofa Covers Other Furniture Products 9

High Quality Products with Innovative Designs and Smart Home Features § Stationery & Motion Sofas: Manufactured in a wide spectrum of sizes, designs, colours, patterns and upholstered in various materials such as leather, PU leather or fabric Smart Home Features § Sofa Covers: Manufactured on OEM basis according to customer preferences, in leather, fabric and PU leather § Other Furniture Products: Such as cabinets, tables, bedsteads and chairs Massage Stationery Sofas Motion Sofas Beverage Cooling Bluetooth & USB Port Sofa Covers Other Furniture Products 10

Industry Overview

Growth of Future Upholstered Sofa Market in the U. S. Retail Sales Value of Upholstered Sofa in the U. S. , 2011 -2020 CAGR: 4. 8 % 2016 F – 2020 F 18. 3 17. 5 16. 7 16. 0 US$ (billions) 20 15 13. 3 R: 3. 6 % 14. 7 15. 3 2014 2015 G 2011 – 2015 CA 14. 2 13. 6 19. 3 The U. S. is the PRC’s largest export market for upholstered sofa products: § From 2011 to 2015, upholstered sofa exports to the U. S. accounted for about 30% of China’s total exports in terms of export value § China’s exports of upholstered sofa products to the U. S. increased from US$2, 537. 7 million in 2011 to US$3, 400. 0 million in 2015, representing a CAGR of approximately 7. 6% § The U. S. is the key export market of our products, contributing to more than 90% of the Group’s annual sales for the year ended 31 December 2015 § The Group is well positioned in capitalizing on the growth in the overseas furniture market, particularly the U. S. market § The U. S. furniture market is fragmented, therefore, the Group can capture strong growth with our well-recognized brand 10 5 0 2011 2012 2013 2016 F 2017 F 2018 F 2019 F 2020 F PRC Export Value of Upholstered Sofa to the U. S. , 2011 -2015 US$ (billions) 5 % 2011 – 2015 CAGR: 7. 6 4 3 2. 5 2. 7 2. 9 3. 0 2011 2012 2013 2014 3. 4 2 1 0 2015 Top Five PRC Upholstered Sofa Manufacturers US$ (millions) in terms of Export Value to the U. S. in 2015 400 333. 8 2 300 200 121. 0 115. 0 105. 7 89. 5 Morris Competitor B Competitor C Competitor D 100 0 Competitor A Source: Euromonitor Report 12

Growing Demand for Upholstered Sofa Products in the PRC Manufacturer’s Sales Value of Upholstered Sofa in China, 2011 -2020 RMB (billions) 200 150 119. 0 R: 6. 1 % 015 CAG 2 – 1 1 0 2 150. 7 146. 9 140. 4 129. 8 : 5. 5 % 0 F CAGR 185. 4 175. 6 02 2016 F – 2 156. 6 164. 9 193. 8 100 Healthy Growth in Domestic Sales of Upholstered Furniture Industry: § Continued progress in urbanization § Steadily rising household income § Government’s efforts to regulate the housing market § Expected measures to prop up the upholstered furniture industry § The Group has set up two direct sale stores in Haining City and Jiaxing City under the “Morris Zou” brand in the PRC § The Group plans to expand its sales and marketing network in the PRC 50 0 2011 2012 2013 2014 2015 2016 F 2017 F 2018 F 2019 F 2020 F Source: Euromonitor Report Haining Direct Sale Store Jiaxing Direct Sale Store 13

Investment Highlights

Investment highlights 1 Market Leadership in the PRC-based Sofa Export Industry 2 5 6 Continuous Improvement in Profitability 3 Integrated Business Model with Self-owned Brands 4 Innovative Design and Strong R&D Team Economies of Scale and Effective Cost Management Visionary Management Team 15

1 Market Leadership in the PRC-based Sofa Export Industry Top 10 upholstered sofa manufacturers in terms of export value to the U. S. , 2015 In terms of export value to the U. S. in 2015, the Company is the second largest PRC upholstered sofa manufacturers with a market share of approximately 3. 6% Market Share 12% 10% 9. 8% 8% 6% 3. 6% 4% 3. 1% 2. 6% 2. 4% 2. 3% Competitor E Competitor F 2% 2. 1% 0% Competitor A Competitor B Competitor C Competitor D Revenue Contribution of Top 5 Customers for the 8 months ended 31 August 2016 15. 9% § Maintained long-term relationships with various large-scale customers in the U. S. , including some of the largest furniture retail chains and retail warehouse clubs § Stable relationships with our top customers, one of which for over 14 years Customer A Customer F 22. 8% Customer G Customer H Competitor I Strong Relationships with Customers Customer C 36. 9% Competitor G Competitor H Other Customers 10. 4% 8. 0% 6. 0% Notes: 1. Customer B was one of our top 5 customers in 2013 and 2014, Customer F became one of our top 5 customer since 2015 2. Customer D and customer E were two of our top 5 customers in 2014 and 2015 but not in 8 M 2016 while customer G and customer H became two of our top 5 customers in 8 M 2016 16

2 Continuous Improvement in Profitability Revenue Breakdown by Product Adjusted Net Profit and Adjusted Net Profit Margin* RMB (millions) 1, 000 800 RMB (millions) 47. 7 31. 4 379. 3 600 18. 5 172. 2 557. 0 4. 2 104. 8 666. 7 540. 3 2013 Sofa 2014 2015 Sofa Covers 8 M 2015 Others 8 M 2016 0 900 800 700 600 500 400 300 200 100 0 3. 0% 33. 5 24. 4 5% 53. 1 32. 0 250 926. 5 483. 1 113. 2 88. 6 253. 0 2014 OEM 99. 1 226. 5 565. 0 581. 6 319. 6 358. 3 100 118. 5 104. 8 50 73. 2 172. 2 2015 8 M 2015 ODM OBM 0% Profit Margin (%). 8% +CAGR： 5 200 600. 9 54. 5 2015 8 M 2016 Adjusted Net Profit Margin RMB (millions) 491. 5 2013 3. 4% 10% 5. 7% Gross Profit and Gross Profit Margin 824. 7 379. 3 5. 7% 2013 2014 Adjusted Net Profit Revenue Breakdown by Business Model RMB (millions) 984. 0 1000 15% 9. 4% 472. 5 0 % +70. 1 40 20 374. 3 20% ： 25. 8% +CAGR 226. 5 253. 0 400 200 60 33. 3 Profit Margin (%) 8 M 2016 150 20. 0% 20. 9% +20. 5% 23. 7% 40% 28. 9% 24. 7% 35% 30% 25% 20% 0 15% 10% 196. 6 172. 6 219. 9 139. 3 167. 9 2013 2014 2015 8 M 2016 Gross Profit *Adjusted Net Profit = Net Profit + Listing Expenses – Disposal Gain – Exchange Gain 5% 0% Gross Profit Margin 17

3 Integrated Business Model with Self-owned Brands Design: - In-house staff with extensive experience - U. S. designer and consulting firm R&D: - Self R&D centre in Haining City - 40+ in-house R&D personnel with extensive experience Manufacturing: - Efficient integrated model with focus on OBM business - Full process quality control Sales & Marketing: - Network covers the U. S. , Canada, the U. K. , Korea and the PRC - Exclusive sales channels with a team of 20+ staff members - An agent and a consultancy firm assist with sales & marketing and after sales service in the U. S. Branding: - 2 well recognized brands - OBM business contributed 64. 9% of revenue in 2015 Strategically Adjusted Business Focus to ODM and OBM Business Revenue Breakdown Gross Profit Margin As % of Revenue 80% 28. 9% 30% 100% 49. 9% 60% 58. 6% 64. 9% 56. 6% 40% 11. 5% 20% 38. 5% 30. 7% 24. 4% 30. 5% 2013 2014 2015 8 M 2015 10. 7% 13. 0% 0% OEM ODM OBM 61. 6% 23. 7% 25% 20. 0% 20. 4% 18. 0% 8 M 2016 24. 7% 20. 9% 20% § § § 15% 2013 2014 2015 8 M 2016 Create and enhance our own brand value Enhance our bargaining power with suppliers Increase our gross profit margin 18

4 Innovative Design and Strong R&D Team Haining Research and Development Centre: § Accredited as a Zhejiang Enterprise Technical Centre by the Zhejiang Province Economic and Trade Commission in 2003 § 40+ staff members with extensive experience in the sofa production industry § Senior members with 10+ years of industry experience § Collaboration between U. S. designer and in-house R&D personnel § Design and develop new sofas and other furniture products as well as enhance and improve the design and functionality of existing products § Strong R&D capabilities enable the Company to focus more on ODM and OBM businesses U. S. Designer: § Assists the Company with identifying and determining new trends, themes, colours and fabrics of sofa products to match with the preferences of consumers in the U. S. Issued Patents: Research and Development Expenditure RMB (millions) As % of Revenue 30 4. 8% 25 20 5 0 5% 4% 2. 5% 15 10 6% 0. 8% 8. 0 3% 1. 1% 9. 1 2% 22. 8 28. 2 2013 2014 2015 8 M 2016 Research and Development Expenses As % of Revenue 1% 0% 19

5 Economies of Scale and Effective Cost Management Economies of Scale Lead to Lower Cost of Sales and Admin Expenses thus Higher Margin Cost of Sales RMB (millions) 80. 0% 800 As % of Revenue 79. 1% 600 76. 3% 81% 75. 3% 71. 1% 400 200 0 76% 71% 787. 5 2013 652. 1 706. 6 425. 6 413. 6 66% 2014 2015 8 M 2016 Cost of sales As % of Revenue Administrative Expenses Annual capacity up to approximately 892, 000 pieces of sofas, 1, 613, 000 pieces of sofa covers and 11, 000 pieces of other furniture products Measures to reduce cost: § Optimize production processes, such as improving the design of furniture and reducing production losses § Monitor purchase of raw materials, increase amount of bulk purchases and adopt a centralized procurement system § Further invest in the development of ERP to improve operational efficiency § New production facility in Cambodia currently under construction, expected to commence production in 2017 to lower overall production costs Notes: 1. Adjusted EBIT = Net Profit + Interest + Taxes + Listing Expenses 2. Adjusted EBIT Margin = Adjusted EBIT/ Revenue As % of Revenue RMB (millions) 8. 9% 100 5. 9% 5. 8% 5. 5% 5. 4% 50 0 10% 5% 57. 6 47. 6 51. 1 30. 7 51. 7 2013 2014 2015 8 M 2016 Administrative Expenses 0% As % of Revenue Adjusted EBIT 1 & EBIT Margin 2 RMB (millions) 125 100 75 50 25 0 8. 0% 13. 5% 8. 0% 13. 1% Margin (%) 15. 7% 20% 10% 79. 0 2013 66. 1 124. 7 73. 9 91. 4 2015 8 M 2016 Adjusted EBIT Margin 0% 20

6 Visionary Management Team Mr. Zou Gebing Chairman, CEO and Executive Director § An award-winning entrepreneur in manufacturing and exporting of sofa products predominantly to overseas market primarily to the U. S. Mr. Chen Guohua Executive Vice President and Executive Director Mr. Zeng Jin Senior Vice President, Executive Director and Head of Production and Quality Management § Over 15 years of industry and government experience § Extensive experience in production and quality management § Responsible for strategic development, investment planning and daily management § Responsible for overseeing production planning and manufacturing and quality management Mr. Wang Ming Ms. Shen Jiangping Vice President, Executive Director, Head of Import and Export and Head of Sales and Marketing Director of Human Resources § Over 15 years of industry experience § Responsible for overseeing and mapping the Group’s growth strategy and overall management § Vice chairman of the 6 th Council of the Zhejiang Leather Industry Association and the Zhejiang Young Entrepreneurs’ Association and senior vice chairman of Jiaxing Chamber of Commerce § Awarded Zhejiang Youth Wusi Medal, Chinese Youth Wusi Medal by the All-China Youth Federation and Elite Zhejiang Merchants Prize 2009 – Annual Cutting-edge Entrepreneur of Zhejiang Province § 8 years of experience in foreign trade § Responsible for managing and reviewing import and export contracts and overseas trading documents, arranging for transportation, clearance and inspection of cargos, developing new markets and clientele, and maintaining customers’ relationship § 15 years of experience in human resources § Responsible for overseeing recruitment, staff training, reward management and human resources matters 21

Financial Highlights

Growing Revenue and Profitability Revenue Breakdown by Product Adjusted EBITDA 1 & EBITDA Margin 2 RMB (millions) 1, 200 RMB (millions) 140 47. 7 31. 4 900 379. 3 253. 0 600 300 0 557. 0 540. 3 2014 Sofa 120 33. 3 666. 7 8 M 2015 20 0 8 M 2016 200 150 20. 0% 20. 9% 40% +20. 5% 23. 7% 28. 9% 24. 7% 30% 10% 50 196. 6 172. 6 219. 9 139. 3 167. 9 2013 2014 2015 8 M 2016 Gross Profit 15% 10% 5% 97. 3 81. 5 131. 0 79. 0 93. 4 2013 2014 2015 8 M 2016 0% Adjusted EBITDA Margin RMB (millions) 60 Gross Profit Margin 0% Profit Margin (%) 20% 5. 8% +CAGR： 2 +70. 1% 40 20% 100 0 16. 1% Adjusted Net Profit & Adjusted Net Profit Margin 3 Profit Margin (%). 8% +CAGR： 5 14. 0% 9. 9% Adjusted EBITDA Gross Profit & Gross Profit Margin 250 14. 1% 40 Other Furniture RMB (millions) 9. 9% 20% % +18. 2 60 472. 5 374. 3 2015 80 4. 2 104. 8 18. 5 172. 2 Sofa Covers % ： 16. 0 +CAGR 100 226. 5 Margin (%) 20 0 9. 4% 3. 0% 5. 7% 10% 5. 7% 5% 33. 5 24. 4 53. 1 32. 0 54. 5 2013 2014 2015 8 M 2016 Adjusted Net Profit Notes: 1. Adjusted EBITDA = Net Profit + Interest + Taxes + Depreciation + Amortization + Listing Expenses 2. Adjusted EBITDA Margin = Adjusted EBITDA/ Revenue 3. Adjusted Net Profit = Net Profit + Listing Expenses – Disposal Gain – Exchange Gain 15% 0% Adjusted Net Profit Margin 23

Effective Cost Control Helps Improve Profitability Cost of Sales Adjusted EBIT 1 & EBIT Margin 2 RMB (millions) 800 80. 0% As % of Revenue 82% 79. 1% RMB (millions) Margin (%) 140 15. 7% 120 600 76. 3% 75. 3% 400 77% 71. 1% 200 0 787. 5 652. 1 706. 6 425. 6 413. 6 2013 2014 2015 8 M 2016 Cost of sales 80 60 72% 0 RMB (millions) 80 5. 9% 5. 4% 5% 20 57. 6 47. 6 51. 1 30. 7 51. 7 2013 2014 2015 8 M 2016 Administrative Expenses 79. 0 66. 1 124. 7 73. 9 91. 4 2013 2014 2015 8 M 2016 0% Adjusted EBIT Margin 7. 7% 8. 3% 9. 4% 8. 6% 8. 3% 10% 8% 60 6% 40 4% 20 0% As % of Revenue RMB (millions) 80 40 0 10% Selling and Distribution Expenses 100 5. 5% 8. 0% Adjusted EBIT As % of Revenue 10% 8. 9% 5. 8% 15% 5% As % of Revenue Administrative Expenses 60 8. 0% 13. 1% 40 20 67% 13. 5% 100 20% 0 As % of Revenue Notes: 1. Adjusted EBIT = Net Profit + Interest + Taxes + Listing Expenses 2. Adjusted EBIT Margin = Adjusted EBIT/ Revenue 75. 6 68. 1 79. 9 52. 9 48. 3 2014 2015 8 M 2016 Selling and Distribution Expenses 2% 0% As % of Revenue 24

Strategic Focus on OBM Business and Improving Profit Margin Gross Profit Breakdown Revenue Breakdown RMB (millions) 240 1000 200 800 600 400 160 491. 5 113. 2 67. 3 120 483. 1 88. 6 600. 9 99. 1 200 0 319. 6 73. 2 358. 3 118. 5 379. 3 253. 0 226. 5 172. 2 104. 8 2013 2014 2015 8 M 2016 OEM ODM 23. 2 76. 7 20. 5 80 118. 5 27. 2 69. 8 18. 9 40 0 110. 0 25. 1 106. 1 75. 4 74. 2 50. 6 32. 9 2013 2014 2015 8 M 2016 ODM OBM OEM OBM Gross Profit Margin 32. 8% 35% 30% 25% 28. 0% 29. 8% 23. 2% 27. 4% 21. 8% 15% 13. 7% 2013 15. 9% 31. 3% 30. 7% 25. 8% 20. 5% 20% 10% 29. 4% 21. 2% 19. 7% 2014 2015 OEM ODM 8 M 2015 OBM 8 M 2016 25

Healthy Financial Condition & Return on Capital Interest Coverage Ratio 2 Current Ratio 1 120% 7 100% 6 80% 108. 6% 111. 4% 102. 7% 5 4 60% 3 40% 2 20% 1 0% 6. 6 2013 2014 2015 0 2. 3 2013 Return on Equity 3 100% 10% 8. 9% 6% 60% 4% 40% 0% 2015 8% 80% 2014 Return on Assets 4 110. 7% 120% 2. 3 11. 9% 2% 8. 0% 2013 2014 2015 Notes: 1. Current Ratio = Current Asset / Current Liabilities 3. Return on Equity = Net Profit / Total Equity x 100% 0% 1. 7% 1. 4% 2013 2014 2015 2. Interest Coverage Ratio = EBIT/ Finance Cost 4. Return on Assets = Net Profit / Total Asset x 100% 26

Efficient Working Capital Management Average Inventory Turnover Days 1 100 200 80 150 60 100 50 0 Average Trade Receivables Turnover Days 2 132. 9 89. 2 2013 2014 118. 6 2015 145. 9 40 89. 9 67. 1 8 M 2016 0 2013 2014 2015 8 M 2016 Cash Conversion Cycle 4 100 200 80 150 60 100 0 66. 9 20 Average Trade Payables Turnover Days 3 50 83. 5 180. 5 115. 2 2013 159. 5 185. 9 40 20 2014 2015 8 M 2016 0 41. 1 42. 3 42. 6 2013 2014 2015 26. 9 8 M 2016 Notes: 1. Average Inventory Turnover Days = Number of days * Average Inventory/Cost of Sales 2. Average Trade Receivables Turnover Days = Number of days * Average Net Trade Receivables/Revenue 3. Average Trade Payables Turnover Days = Number of days * Average Trade Payables/Cost of Sales 4. Cash Conversion Cycle = Inventory Turnover Days + Average Trade Receivables Turnover Days – Average Trade Payables Turnover Days 27

Business Strategies and Use of Proceeds

Further Expand Sales and Marketing Network Europe Canada U. K. Korea U. S. A. Production base Current market China Haining City, Zhejiang Province Cambodia (Commence production in 2017) Singapore § The Company plans to further expand sales and marketing network by extending reach in the overseas furniture markets as well as expanding and strengthening sales network in the PRC Australia Future expansion market Continue to extend reach in the overseas sofa markets: Expanding and strengthening the Group’s network in the PRC: § § Fortifying existing business relationships Exploring new business relationships with potential customers in territories such as Australia, Europe and Canada § § Currently have two direct sale stores in the PRC Continue tapping into the PRC domestic furniture market 29

Continue to Enhance Brand Recognition in the Furniture Marketing and Promotions § Combination of marketing endeavours including advertising through: Ø Television, newspapers, magazines and the Internet Ø Selective Pursuance of Strategic Alliances and Acquisitions § Selectively pursue strategic alliances and acquisitions of furniture brands with reputable names § Expand sales network and raise the awareness of the Group’s brands and products § Expand products portfolio and benefit from the established market recognition Weekly business newspaper – § Expand the area of our showroom or our footprint in the High Point Market in North Carolina, U. S. § Participate in more exhibitions and showroom events in the PRC, the U. S. and other overseas markets 30

Continue to Enhance Brand Recognition in the Furniture Market (cont’d) High Point Market Showroom § We have participated in the “High Point Market” exhibition in High Point, North Carolina, U. S. twice a year since 2010 by way of housing a showroom to promote and market our “Morris Holdings Limited” branded sofa products in the U. S. § The High Point Market is the largest furnishings industry trade show in the world, bringing more than 75, 000 people to High Point every six months High Point Market: § 180 buildings § 11. 5 million square feet of showspace § 75, 000 attendees to High Point every six months § 2, 000+ exhibitors § 100+ countries represented § Tens of thousands of new product introductions § Approximately 10% of attendees are international Source: http: //www. highpointmarket. org/about-market/facts/ 31

Expand Manufacturing Capacities in Cambodia to Meet Market Demand Cambodia has huge supplies of working age population in the coming years Minimum Wage for A 19 -year-old or Apprentice by Country (Year 2016) Europe Canada US$ per month 2, 000 1, 500 U. K. 1, 000 U. S. A. China Production base Cambodia (Commence production in 2017) Current market 267 Korea 0 Haining City, Zhejiang Province Singapore 157 140 The U. S. China* Vietnam Cambodia (New York) (Zhejiang) Source: - US: National Conference of State Legislatures - China: China Labour Law - Vietnam: http: //www. chinatimes. com/realtimenews/20160107004301260410 - Cambodia: http: //info. taiwantrade. com/CH/bizsearchdetail/8041114/C * Exchange rate of 6. 9495 as of 28 Dec 2016 from PBOC Structure of Cambodian Population (Year 2013) Australia Future expansion market Current Production Facilities: Haining City, Zhejiang Province Production Line Designed Production Capacity (Thousand /Year) Actual Production Volume in 2015 (Thousand /Year) Utilisation Rate New Production Facilities: Sihanoukville Special Economic Zone (commence production in 2017) Production Line Designed Production Capacity (Thousand/ Year) Sofa Products 15 892 664 74. 4% 95 25 1, 613 1, 271 78. 8% Sofa Products 5 Sofa Covers 9 145 Other Furniture 1 81. 8% Sofa Covers 11 9 Source: The World Bank § Lower labor cost § Sofa production capacity +10. 7% § Sofa cover production capacity +9. 0% 32

Use of Proceeds 31. 3% Further expansion of our sales and marketing network in both overseas market and the PRC 26. 4% Repayment of part of our outstanding bank borrowings 26. 0% Enhancement of our brand recognition in the furniture market 9. 8% General working capital and other general corporate purposes 6. 5% Expansion of our manufacturing capabilities in Cambodia 33

Q&A

Appendix

Efficient Production Process with Whole-process Quality Monitoring Centralized purchasing of raw materials Disapproved materials Incoming inspection Wooden frame processing No Approved materials Leather cover processing Fabric cover processing Foam processing Cutting Carpentry and assembling Sewing Gluing Sewing Polishing and marking Work in progress inventory inspection Yes Metal components No No Yes Work in progress inventory inspection Yes Filling and pre-assembling No No Work in progress inventory inspection Assembling Yes Assembling all parts No No Work in progress inventory inspection Yes Final inspection Yes Packaging Storing 36

Extracts of Statement of Profit & Loss Figures For the year ended 31 December For the eight months ended 31 August 2013 RMB’ 000 2014 RMB’ 000 2015 RMB’ 000 (unaudited) 2016 RMB’ 000 Revenue 984, 026 824, 675 926, 471 564, 958 581, 566 Gross Profit 196, 576 172, 624 219, 914 139, 314 167, 933 Gross Profit Margin (%) 20. 0% 20. 9% 23. 7% 24. 7% 28. 9% Profit Before Tax 44, 074 37, 804 103, 166 63, 405 64, 416 Profit for the Year /Period 33, 543 24, 364 83, 068 50, 182 40, 134 Adjusted Net Profit 1 33, 543 24, 364 53, 051 32, 036 54, 508 Adjusted Net Profit Margin 2 (%) 3. 4% 3. 0% 5. 7% 9. 4% Notes: 1. 2. Adjusted Net Profit = Profit of the Year + Listing Expenses – Disposal Gain – Exchange Gain Adjusted Net Profit Margin = Adjusted Net Profit/Revenue x 100% 37

Extracts of Balance Sheet Figures For the year ended 31 December For the eight months ended 31 August 2013 RMB’ 000 2014 RMB’ 000 2015 RMB’ 000 2016 RMB’ 000 132, 490 142, 570 51, 554 52, 518 1, 891, 375 1, 586, 052 885, 805 935, 366 31, 297 10, 640 33, 131 60, 257 Total Assets 2, 023, 865 1, 728, 622 937, 359 987, 884 Current Liabilities 1, 742, 289 1, 423, 246 862, 195 868, 753 691 0 107 3, 667 280, 885 305, 376 75, 057 115, 464 Non-current Assets Cash and Cash Equivalents Non-current Liabilities Total Equity 38

Extracts of Cash Flows Figures For the year ended 31 December For the eight months ended 31 August 2015 2016 RMB'000 (unaudited) 2013 RMB'000 2014 RMB'000 2015 RMB'000 Net Cash Flows from/(used in) Operating Activities 57, 442 34, 204 110, 636 38, 518 92, 524 Net Cash Flows from/(used in) Investing Activities (56, 904) 186, 231 (18, 628) 7, 508 (114, 715) Net Cash Flows from/(used in) Financing Activities (87, 417) (241, 278) (70, 073) 5, 130 47, 057 Net Increase/(Decrease) in Cash & Cash Equivalents (86, 879) (20, 843) 21, 935 51, 156 24, 866 Cash & Cash Equivalents at the Beginning of the Year 118, 187 31, 297 10, 640 33, 131 (11) 186 556 336 2, 260 31, 297 10, 640 33, 131 62, 132 60, 257 Effect of Foreign Exchange Rate Changes, net Cash & Cash Equivalents at the End of the Year 39