2023 Interim Results Presentation

China's Leading Office Landlord

• High Quality Assets - Holding 1.26 million sqm of prime location commercial properties in Beijing and Shanghai
• Solid Value Protection - Occupancy steadily increased. Asset scarcity, value protection in an increasingly complex and uncertain environment
• Robust Operating Cash Flow - All projects under mature operating with diverse tenant mix providing a stable rental income
• Stable Financial Position - No pressure on ongoing projects and large capital expenditures, low gearing ratio, healthy debt maturity profile and stable financing cost
• Reinforce green basement -Fulfilling green & environmental protection, advocating for green leasing, gaining accreditations by authoritative institutions

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Interim Results Summary of 2023

• The average occupancy of the Group's investment properties stabilized and recovered to approximately 79% as at 30 June 2023.
• Despite an increasingly challenging office and retail property leasing markets due to weak macro-economic environment, the Group achieved revenue of approximately RMB822 million for the Period.
• Gross profit margin remained stable and was approximately 83% for the Period.
• Profit attributable to owners of the Company from operating activities (excluding valuation changes on investment properties and one-off tax and administrative fees and charges) was approximately RMB207 million for the Period.
• As at 30 June 2023, net gearing ratio of the Group was approximately 42%, and average funding cost was approximately 4.7%.

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Holding prime location office buildings in Beijing and Shanghai

Unit: RMB bn

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Occupancy stabilized

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