Purchase with cash through Wealth Securities

Normal cut-off time: February 18, 2019, 5:00 p.m.

Extended Deadline: February 19, 2019 10:00 a.m.

(Note: The fee for all applications made during the extended deadline is $50)

Full payment customer procedure fee: (online application) $0

(non-online application) $50

Date of announcement of application results: February 25, 2019

Listing date: February 26, 2019

Basic materials

Number of shares offered globally: 532,000,000 shares

Share of shares offered in Hong Kong: 10%

Offer price range: HK$2.32 to HK$3.25

Estimated amount raised: HK$1,234 million to HK$1,729 million Total number of shares after issuance: 2,632 billion shares

Number of shares per lot: 1,000 shares

Admission fee per lot: HK$3,282.75

Exclusive insurer: CCB International Finance Limited

Major shareholders (listed only): Mr. Hu Yiping (69.64%): Mr. Hu Shihao (5.36%)

Comprehensive Overview

The Group is an integrated real estate developer in Zhejiang Province, China. It mainly focuses on residential property development and commercial and mixed-use property development, operation and management. The group has now expanded into the Yangtze River Delta region and major cities.

The Group strategically focuses on middle class customers and other customers. The Group provides four different residential property series to meet the needs and preferences of target customers, including high-rise residences, multi-storey houses, townhouses, multi-storey houses, multi-storey houses, and residential complexes. In addition, the Group develops multi-purpose complex projects integrating buildings, community centers, serviced apartments, hotels and other supporting facilities, and makes sales and long-term investments.

According to the Yiju Report, in 2017, according to the total sales value of residential property contracts in all 11 prefecture-level cities in Zhejiang Province, the group ranked fifth, with a market share of 2.2%.

Risk Factors

The Group's business and prospects are highly dependent on China's economic situation and the Chinese real estate market, especially the expressions of the major cities in the Yangtze River Delta region. Any potential decline in property sales or prices in China as a whole or in such cities may have a significant adverse impact on the Group's business and operating performance.