List of subsidiaries of China Resources Group

China Resources Beer Co., Ltd. and CR Vanguard Co., Ltd.

1. China Resources Beer Co., Ltd.: This company is a Hong Kong investment holding company focusing on beer business, mainly including the production, sales and distribution of beer products.

2. CR Vanguard Co., Ltd.: This company is one of the largest retail chain enterprises in China and the largest and most powerful Chinese-funded enterprise group in Hong Kong.