SUBSIDIARIES

Company Name

Business Description

Upbest Securities Company Limited
( "Upbest Securities" )

Securities dealing and broking

Upbest Commodities Company Limited

( "Upbest Commodities" )

Futures dealing

Upbest Investment Company Limited
( "Upbest Investment" )

Securities margin financing

Gold-Face Finance Limited
( "Gold-Face" )

Money lending

Upbest Assets Management Limited
( "Upbest Assets" )

Assets management

Upbest Gold & Silver Trading Limited
( "Upbest Gold & Silver" )

Precious metals trading

Upbest Bullion Company Limited
( "Upbest Bullion" )

Precious metals trading

Mei Wo Company Limited

( "Mei Wo" )

Property Investment