Exhibit 10.12
LIST OF SUBSIDIARIES OF THE REGISTRANT
| Name | Jurisdiction of Incorporation | |
| Masterbeef Limited | British Virgin Islands | |
| Anping Grill Limited | British Virgin Islands | |
| Tak Moon Food Supplies (BVI) Limited | British Virgin Islands | |
| Taiwanese Sweeties Limited | British Virgin Islands | |
| House of Talent (BVI) Limited | British Virgin Islands | |
| General’s Feast Limited | British Virgin Islands | |
| Worvity Limited | British Virgin Islands | |
| Tak Moon Holdings Limited | Hong Kong | |
| Anping Grill (HK) Limited | Hong Kong | |
| Tak Moon Food Supplies Limited | Hong Kong | |
| Taiwanese Sweeties (HK) Limited | Hong Kong | |
| House of Talent Limited | Hong Kong | |
| Generals Feast (HK) Limited | Hong Kong | |
| Worvity (HK) Limited | Hong Kong | |
| Luk Koon Limited | Hong Kong | |
| Taiwanese Hotpot Limited | Hong Kong | |
| Master Beef Hotpot Limited | Hong Kong | |
| Able Force Limited | Hong Kong | |
| Amazing Hotpot Limited | Hong Kong | |
| All You Can Eat Hotpot Limited | Hong Kong | |
| People Mountain People Sea Hotpot Limited | Hong Kong | |
| Mrs Beef Taiwanese Hotpot Limited | Hong Kong | |
| Mrs Beef Limited | Hong Kong | |
| Zone Corporation Limited | Hong Kong | |
| Sharp Harbour Limited | Hong Kong | |
| Taiwanese Barbecue Limited | Hong Kong | |
| All You Can Eat Grill Limited | Hong Kong | |
| Cool Sky Limited | Hong Kong | |
| Taiwanese All You Can Eat Limited | Hong Kong | |
| Wide Fame Limited | Hong Kong | |
| Big Assets Limited | Hong Kong | |
| Mad Label Limited | Hong Kong | |
| Vast Happiness Limited | Hong Kong | |
| Wider Rise Limited | Hong Kong | |
| Tak Mei Food Supplies Limited | Taiwan |
| * | All subsidiaries are wholly owned, directly or indirectly, by MasterBeef Group. |