| Flamm Investment Holdings Ltd. | 100.00% | Crown Emerald Investments Ltd. | 100.00% |
| Dongguan Tak Ya Leather Goods Manufactory Ltd. | 100.00% | Mascotte Industrial Associates (Hong Kong) Ltd. | 100.00% |
| Mascotte Zhi Hao Photographic Equipment (Hui Zhou) Co., Ltd. | 90.00% | Time Beyond Ltd. | 100.00% |