Tranche Update on Sungchang Enterprise Holdings Limited's Equity Buyback Plan announced on March 15, 2018.

Sungchang Enterprise Holdings Limited is a Korea-based holding company mainly engaged in the manufacture of plywood and wood flooring products. The Company mainly provides plywood, wood flooring products and particle boards (PBs). Its plywood products include general plywood, concrete mold plywood, interior plywood, structural plywood, ship-building plywood and others. Its wood flooring products include plywood floors and hardwood floors under the name HOTWOOD through Sungchang Enterprise Co., Ltd. Its particle boards (PBs) are used for furniture. In addition, the Company is involved in the distribution of fire resistance flooring products, operation of a botanical garden, provision of formalde used as adhesives, as well as treatment of waste wood.