About CHINANEWTOWN Company

China New Town Development Co., Ltd. (Hong Kong Stock Code: 1278) (the “Company” or “CNTD”) was listed on the main board of the Stock Exchange of Hong Kong Limited on October 22, 2010. In March 2014, China Development International Holdings Co., Ltd. (“CDB International”), a wholly-owned subsidiary of CDB Finance Co., Ltd. (“CDB Finance”), completed the purchase of 5,347,921,071 issued shares of CNTD and became the controlling shareholder of CNTD. CDB Finance is a wholly-owned subsidiary of China Development Bank Co., Ltd. (“CDB”). It inherits CDB's resources and brand advantages, and has a nationwide network layout in the new town development business sector. On June 11, 2021, CDB International and Wuxi Transportation Industry Group Co., Ltd. (“Wuxi Transportation Group”) and its wholly-owned subsidiary Xitong International (Hong Kong) Holdings Limited (“Xitong International”) signed a share transfer agreement for approximately 29.99% of the Company's shares. CDB International agreed to transfer 29.99% of its shares (“share transfer”) to Xitong International under an agreement. On September 28, 2021, the delivery of this share transfer was completed. Xitong International held about 29.99% of the Company's shares, and China Development International Holdings held about 24.99% of the Company's shares. At this point, the company has a complex shareholder structure of “local state-owned assets+central enterprise financial institutions”, combining the industrial advantages and financial advantages of the two major shareholders. Since 2014, taking into account the development trend of China's new urbanization and the company's resource advantages, the company has gradually clarified development ideas and business strategies. On the basis of continuing to follow national policy guidelines, the company has introduced branded products in the field of improving people's livelihood, including tourism, health, medical care, etc., to enhance residents' quality of life and experience, in line with regional economic development needs and residents' living requirements. With the support of shareholders Xitong International and China Development International Holdings, combined with the resources and advantages of major shareholders, the company gradually clarified new business development strategies, initiated business transformation plans, actively expanded related investments in industries that meet the prospects of new economic development, such as health care, strategic emerging industries, and information technology application innovation, and cultivating new business tracks and main business directions. Currently, in the fixed income project sector, our projects are distributed in regions with good economic development across the country, which can provide the company with stable income and cash flow. In the field of investment to improve people's livelihood, the company participated in the development of projects including the Luodian New Town Project in Shanghai, the Junzhuang Town Project in Mentougou District of Beijing, and the Wuhan Optics Valley New Development International Center. The Wuhan Optics Valley New Development International Center project is a project where the company acquired Lenovo Mobile Communications Software (Wuhan) Co., Ltd. located in the Donghu Optics Valley High-tech Development Zone in Wuhan City in 2018. After recent operation, the project has maintained a good rental rate level and has become a landmark property project in the Wuhan region. In the new business sector, the company fully relies on shareholders' resource advantages, cooperates with high-quality industrial investment institutions in the market, reserves resources for a number of high-quality projects, and lays a good foundation for subsequent development. In the context of the country's policy to support a new type of urbanization, we are confident that we will fully rely on the resource advantages of shareholders and the rich experience of the project team to achieve a steady increase in the scale of the company's assets and operating performance.