Mainland China Management Presentation

Development Properties - How Do We Choose Our Cities? Sizable population base or population inflows tral Cities Annual residential transaction value of over RMB100 bn Large Market Share of total GDP* 9% HKL'S 7 CITIES Share of total Population* 16% Limited Supply Low inventory levels *National Bureau of Statistics, Local Bureau of Statistics H 2019 Mainland China Management Presentation xisting Resource Existing market relationships ◆ Beijing Chengdu⚫ Wuhan Chongqing Nanjing ● Shanghai Hangzhou Middle Yangtze River Valley Jingjinji Area Yangtze River Delta Area Chengyu Megalopolis 15

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