12 February 2020 – China South City Holdings Limited (“China South City” or “the Group”) has sustained good growth momentum in business development. The contracted sales achieved HK$11.7 billion for the first three quarters of the fiscal year, of which the third quarter reached HK$3.9 billion. Breakthroughs were also seen in recurring business, among which CSC Shenzhen entered into cooperation agreement with Wanda Group to develop a new generation of Wanda Plaza on Shenzhen project. The cooperation, with an operation term of 20-year and a total GFA of approximately 305,000 sq. m., will greatly enrich the business industries of China South City. Combined with China South City’s multi-industry trade centers, comprehensive commercial elements, ecommerce, logistics and warehousing services, local amenities, etc., the new generation Wanda Plaza program will effectively increase the customer flow, which in turn brings prosperity to the integrated trade and logistics platform and steps up the upgrade of China South City project.

The Group has also successfully completed several financing exercises recently. China South City, being a large-scale integrated trade and logistics enterprise, has gained trust from commercial banks, enabling it to acquire various types of loan facilities. Under the premise of optimising debt structure and strengthening cash-flow management, the Group strives to increase the proportion of long-term loans with its fixed assets, and has yielded good results, which reflects the bank recognition of the credit of the Group and the quality of its prime assets. Apart from the completion of a fixed-assets backed loan of RMB600 million for 15 years late last year, the Group singed the financing agreement with a large-scale state-owned bank on another fixed-assets backed facility of RMB1.4 billion for 15 years. In the future, the Group will maintain the close cooperation with onshore and offshore financial institutions and continuously proceed various long-tenor financing, to optimise the Group’s debt structure through the completion of such financing.