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Revenue by Channels 29% 2019 25% 31% 25% 15% • Traditional channels (i.e. Distributors) • B2B (i.e. Corporate client) • Key accounts (i.e. Hypermarkets, Supermarkets) E-commerce • Vinda 34% 2018 25% 16% Double-digit sales growth in e-commerce China e-commerce contributed more than 37% of China sales 50

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