About SHUN TAK HOLD Company

Shun Tak Group Limited (the “Company”) and its subsidiaries (the “Group”) are leading large listed conglomerates, with core businesses including real estate, hospitality and leisure, transportation and investment. The Group was established in 1972 and has been listed on the Hong Kong Stock Exchange (HKSE 242) since 1973. real estate The Group's development in the Macau and Hong Kong real estate markets is evident to all. Apart from being one of the Hong Kong listed companies with the largest floor area available for development in Macau, China, it also has a series of property development projects in the Macau real estate market, which plays an important role in the industry. The Group is also actively expanding its business in the Guangdong-Hong Kong-Macao Greater Bay Area and mainland China real estate markets, with investment projects covering Tongzhou and Dongzhimen in Beijing, Minhang, Qiantan and Jing'an districts in Shanghai, as well as Hengqin New Area in Zhuhai, Xiqing District in Tianjin, and Chenggong District in Kunming. In Macau, China, the Group and Hong Kong Land Holdings Co., Ltd. jointly developed the “No. 1 Plaza”. The project is located in a prime location on the Macau Peninsula in China. It has seven luxury residential towers, a flagship shopping mall, a five-star Mandarin Oriental hotel, and serviced residences managed by the hotel group. The Palace Metropolis in Taipa is one of the largest luxury residential developments in Macau, China. The project provides high-class residential units, world-class gardens and clubhouse facilities, and was well received by the market when the first four phases were launched. The final phase of the Haoting Metropolis project, Haoshang, is located above Xinghao Plaza, which has a total floor area of over 655,000 square feet; this large-scale fashion shopping center was jointly invested and developed by the Group and the Abu Dhabi Investment Authority, and has become a retail hub for the Taipa community since its opening. The Group plays a role in the Hong Kong real estate market, and holds interests in commercial, residential and retail property projects. Key residential projects it owns in Hong Kong, China include Treasure Garden, Shengyueju, and Shengyumen. Furthermore, the Group's property management department currently also provides professional property and facility management services for residential, club, office, shopping malls and car park properties in Hong Kong and Macau, China. In mainland China, the Group entered the real estate market in northern China by investing in the development of a comprehensive development project in Tongzhou, Beijing. The project is located in an excellent location next to the Grand Canal and will be developed into a landmark comprehensive development integrating retail, office buildings and serviced residences. The Sinde Jinghui Center, which is wholly owned by the Group, is located in Dongzhimen in central Beijing, close to the East Second Ring Road. The area's transportation network is well developed. Apart from being close to the expressway leading to the airport, it also has major railway and bus service networks. The property covers an area of 63,000 square feet, including office buildings and leisure space, and is adjacent to central Beijing, the embassy district and Yansha district. The Group entered the healthcare sector in China in 2018 and formed a strategic cooperation with Pengrui Group Co., Ltd. to jointly develop large-scale comprehensive development projects along the China High Speed Rail Line - the Tianjin South High Speed Rail Station Comprehensive Development Project and the Kunming South High Speed Rail Station Comprehensive Development Project. The two projects will be developed into a one-stop regional medical center and commercial hub, providing medical, health and elderly care facilities, as well as hotel leisure and retail space. Shanghai's Qiantan 31 was developed by a joint venture between the Group and Shanghai Lujiazui (Group) Co., Ltd., each holding 50% interest. The project has a total construction area of 139,200 square meters, bringing together office buildings, retail space, basement retail facilities, and a five-star hotel with 202 guest rooms managed by the Yachen Hotel Group.The project also includes a cultural and performing arts center. The center has a concert hall and several multi-purpose performance halls, which can accommodate a total of about 4,000 spectators. In 2020, the Group formed a strategic partnership with China Resources Land Co., Ltd. to acquire 40% of the actual interest in a comprehensive development project located in Suhewan, Jing'an District, Shanghai. The project consists of four plots of land, with a total area of about 65,692 square meters, and the total floor area that can be built is about 329,000 square meters. The project is located next to major tourist attractions and central business districts such as the Bund and Lujiazui. It is planned to be developed into a comprehensive development project integrating residential, office buildings, commercial and cultural buildings, underground shopping malls and central green parks. In January 2021, the Group further acquired 10% of the actual interest in the project, increasing its shareholding in the project to 50%. In order to seize the huge development opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, the Group purchased the remaining 30% interest in the Hengqin Comprehensive Development Project in December 2020 and became the wholly-owned owner of the project. The project is located in Zhuhai City within the Guangdong Pilot Free Trade Zone. It is directly connected to the port and commercial facilities connecting Macau, China, and enjoys unparalleled transportation advantages. Its transportation network also includes an extension of the Guangzhou-Zhuhai Intercity Railway, and China's Macau and Hengqin Light Rail will also have direct access to the site. The project will develop into a comprehensive landmark integrating office buildings, retail facilities, hotels and residences. In recent years, the Group has entered the local real estate market through the acquisition of premium property projects in superior locations near the central business district of Singapore, established a diversified property portfolio integrating hotels, commercial and residential development projects, and acquired a number of high-quality projects with development potential. Advanced commercial development project - 111 Somerset Road is located in the Orchard Road area, close to shopping, entertainment and tourism commercial belts, and has direct access to the subway. The construction area of the project is about 766,550 square feet, including an office, a medical center and a two-story retail mall. In 2018, the Group successfully invested in two rebuildable residential properties located in a prime location in central Singapore. They are planning to develop Park Ho, located at 18 Tomlinson Road and close to the Orchard Road shopping belt; and Lan Xinju, located in a prestigious area near 14A, 14B and 14C Nathan Road, close to embassies and high-quality bungalows, and is known as one of Singapore's luxury residential areas. Both properties have been developed as luxury residential condos for sale. Hotels and leisure In the late 1980s, the Group became a pioneer in high-end hotel services in Macau, China by investing in the former Mandarin Oriental Macau Hotel and the former Westin Macau Resort. Mandarin Oriental Macau opened in June 2010 as part of the “No. 1 Plaza” development project. Known for its elegance and excellent service, the hotel has 213 guest rooms. As for the Luhuan Sea and Sky Resort, formerly known as The Westin Macau Resort, it offers 208 rooms. This luxury boutique hotel is located on the beautiful coast of Luhuandao, overlooking the spectacular scenery of Heisha Beach and the South China Sea. In Hong Kong, China, the Group holds 70% of the Hong Kong Skyline Marriott Hotel. The hotel has 658 guest rooms and is close to Hong Kong International Airport and AsiaWorld-Expo. In order to expand the Group's footprint in the hotel industry, the Group established Yachen Hotels Group Co., Ltd. (“Yachen”) in 2013 to develop hotel management service plans for hotel owners and developers, and to create and manage a series of luxury hotel brands rich in Asian art and culture. This expansion strategy not only enhances the Group's influence in the hotel service industry, but also seizes the booming development opportunities in the Asian travel market and caters to increasingly affluent, tasteful and frequent Chinese travelers. Yachen manages and operates a total of 15 projects (12 Aachen branded hotels and 3 non-branded hotels), and is developing two hotel properties owned by the Group or operated under management service contracts, located in Chongqing and Hengqin, respectively. Beijing Dongzhimen Yachen Yueju Hotel was opened in 2017 and offers 138 guest rooms. The hotel is located in Dongzhimen, Beijing, formerly known as the Ancient City Gate. The area is bustling and bustling, close to the train station, and only 25 minutes by car from the airport. In 2018, Shanghai Hongqiao Yachen Yueju Hotel officially opened in the Shanghai Vientiane City Comprehensive Commercial Development Zone, a high-end retail and leisure center. The hotel has 188 guest rooms and is located in Shanghai's new popular shopping district. It is close to many leisure and entertainment venues, as well as Shanghai Hongqiao International Airport and Hongqiao High Speed Rail Station. The Shanghai Hongqiao Yachenti Hotel, also located in the Shanghai Wanxiang City Comprehensive Commercial Development Zone, is specially designed for travelers seeking fashion and excellent service, and offers 303 guest rooms. The Lingang Dongman International Apartment, operated by the Group, was put into service in December 2021, with 128 guest rooms. The apartment is located in the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone. The region's advanced technology industry and new financial, trade, and economic development are likely to take the lead in the country. Shanghai Qiantan Yachen Yueju Hotel and Shanghai Qiantan Yachen Shang Hotel officially opened in September 2022. They have 246 rooms and 210 guest rooms respectively, and are strategically located in the Qiantan New Development Zone in Shanghai, integrating commercial, entertainment and world-class sports facilities. The Group has also entered the Singapore hotel industry in recent years, and its first local hotel project, the Singapore Arachen Hotel, was officially put into operation in December 2023. The project is a five-star luxury hotel. It is also the group's flagship project. It is close to the central business district and major tourist attractions, and provides 142 guest rooms. In addition to the hotel business, the award-winning Macau Tower Convention and Entertainment Center (“Macau Tower”), managed by the Group, is the main exhibition venue and tourist attraction in Macau, China, and provides a variety of dining options, the best sightseeing spots in the city, a comprehensive shopping experience, and the world's highest commercial pig jumping facility. The Group launched a high-quality membership-based clubhouse in 2018. It is close to the central business district of Central, providing Chinese and Western cuisine, diverse sports and recreation facilities, and a complete multi-purpose activity room for business meetings or private events. transports Since 1962, the Group has operated passenger ferry services between Hong Kong and Macau.In 1999, the Group strategically merged with Hong Kong China Travel International Investment Co., Ltd. (“Hong Kong China Travel”) to successfully establish the “Turbojet” brand to strengthen the Group's shipping business and increase its market share. TurboJET is operated and managed by Sindh China Travel Shipping Investment Co., Ltd. (“Sindh China Travel”) and its subsidiaries. It strives to build a complete maritime traffic network connecting all major cities and airports in the Pearl River Delta (“Pearl River Delta”), including Hong Kong, China, Macau, Zhuhai, Shenzhen and Shekou, to provide passengers with fast, reliable and comfortable maritime transportation services. In 2003, TurboJET launched the “TurboJET Airport Route” (formerly known as “Airport Jetflight”) to connect major international airports in the Pearl River Delta region by ferry, establishing a unique cross-regional multi-mode sea and air transportation network. This sea-air transfer service will connect transit passengers at Hong Kong International Airport, China to major destinations in Macau, China and the Pearl River Delta, further strengthening the links between the Pearl River Delta region and the rest of the world. In line with the policies introduced by the Macau Special Administrative Region Government of China on new tourism products, the Group launched the “Macau Sea Tour” in 2018, making full use of the Group's rich experience in maritime passenger transportation and the advantage of grasping regional tourism development trends to make tourism activities in Macau, China more diversified. The “Macau Sea Tour” offers tailor-made routes that allow visitors to enjoy the beautiful scenery from Macau, China to the Hengqin coast while taking a special cruise, and experience the magnificent scenery of the city and its surroundings. In July 2020, after the Group completed a major shareholding restructuring with China Travel in Hong Kong, China, Sindh China Travel became a co-owned company, further deepening the partnership between the two sides for more than 20 years, and building a multi-mode transportation platform for the Greater Bay Area by sharing resources and experience in the cross-border sea and land transportation industry to seize the opportunities brought by the increase in passenger flow within the region. To support the central government's policies and strengthen ties and integration with the Guangdong-Hong Kong-Macao Greater Bay Area, the company cooperated with experienced cross-border land transport operators to participate in the operation of the Hong Kong-Zhuhai-Macao Bridge cross-boundary shuttle bus service (also known as “Jimba”), as well as operate the “Hong Kong-Macau Express Line”, “Jet Jet Cross-border Vehicle” and “Macau Hong Kong Airport Direct” services to further strengthen the Group's multi-mode intermodal transport platform. The Group has diversified important investments in Macau, China and Hong Kong, China, including holding about 15.8% of the actual shares in Macau China Travel and Entertainment Co., Ltd. (“Macau Entertainment”); Australian Entertainment holds about 54.81 percent of the actual shares in Macau Gaming Holdings Limited (“Aobo Holdings”), which is listed in Hong Kong; and Aobo Holdings actually owns 100% of the economic interests of Macau Entertainment Integrated Resorts Co., Ltd. (formerly “Macau Gaming Co., Ltd.”). Macau Entertainment Integrated Resort Co., Ltd. is one of the six operators granted a license to operate casino gaming by the Macau Special Administrative Region Government of China, and holds all interests in Macau Gaming Co., Ltd. Through forming a tripartite consortium with partners, the Group was approved for a five-year lease agreement for the development of the Kai Tak Cruise Terminal project, which was put into service on June 1, 2023. The cruise terminal can accommodate a new class of large-scale cruise ships, helping Hong Kong, China develop into an international cruise center. The Group's retail business, Xinhuo Dongxi Co., Ltd. has sales rights for the well-known international brand toy “R” Us in Macau, China. Since opening its flagship store in Xinghao Plaza in 2020, Macau Toys “R” Us in Macau, China has continued to be a pioneer in the local industry. The three are located at Xinghao Plaza, Macau Tower, and Macau Studio Mall branches, with a total area of over 40,000 square feet. The company also acquired the Italian ice cream brand “SteccoNaturageLaterie” and became the global owner of the brand to further expand the Group's retail business.