Shenzhen Investment Bay Area Development : Bay Area Development and Guangdong Provincial Highway Construction Company Limited signed Memorandum of Cooperation and Framework Agreements in relation to the potential development and utilisation of the land along the Guangzhou-Shenzhen Superhighway Explore New Business Opportunities

For Immediate Release

October 28, 2019

Shenzhen Investment Holdings Bay Area

Development Company Limited

深圳投控灣區發展有限公司

Stock Code: 737 (HKD counter) and 80737 (RMB counter)

Bay Area Development and Guangdong Provincial Highway Construction Company Limited signed Memorandum of Cooperation and Framework Agreements in relation to the potential development and utilisation of the land along the Guangzhou-Shenzhen Superhighway

Explore New Business Opportunities

(October 28, 2019 - Hong Kong) Shenzhen Investment Holdings Bay Area Development Company Limited (the "Company", "Bay Area Development") is pleased to announce that respectively on 25 October 2019 and 28 October 2019 the Company has entered into a memorandum of cooperation and two framework agreements (the "Documents of Intent") with Guangdong Provincial Highway Construction Company Limited ( 廣 東 省 公 路 建 設 有 限 公 司 ) ("Guangdong Highway Construction"). The Documents of Intent set out, among other things, the principles of cooperation in relation to the potential development and utilisation of the land along the Guangzhou-ShenzhenSuperhighway (the "GS Superhighway").

GS Superhighway is comprised of three sections spanning the Guangzhou, Shenzhen and Dongguan regions. Under the Documents of Intent, it is intended that the party which lead any potential development project in relation to the land along the GS Superhighway and the intended proportion of equity interest shall be as follows:

1. in the Shenzhen region shall be led by the Company (or its designee); the Company (or its designee) and Guangdong Highway Construction (or its designee) will hold 57.5% and 42.5% of the equity interests in the relevant project company(ies) respectively;
2. in the Guangzhou region shall be led by Guangdong Highway Construction (or its designee); the Company (or its designee) and Guangdong Highway Construction (or its designee) will hold 37.5% and 62.5% of the equity interests in the relevant project company(ies) respectively;
3. in the Dongguan region shall be led by the party which is able to obtain the development opportunity by leveraging its internal resources; if the project is led by Guangdong Highway Construction, Guangdong Highway Construction (or its designee) and the Company (or its designee) will hold 62.5% and 37.5% of the equity interests in the relevant project company(ies) respectively; or if the project is led by the Company, the Company (or its designee) and Guangzhou Highway Construction (or its designee) will hold 57.5% and 42.5% of the equity interests in the relevant project company(ies) respectively.

Save for the provisions relating to governing law, serving of notice and confidentiality, the Documents of Intent are not intended to be legally binding on the parties thereto. In the event that any definitive agreement is entered into, the Company will comply with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in respect thereof and make further announcement(s) as and when appropriate.

Wonderful Sky Financial Group	皓天財經集團
9/F, The Center, 99 Queen's Road Central, Central, Hong Kong
香港中環皇后大道 99 號中環中心 9 樓
T 852 2851 1038 F 852 2815 1352	E [e-mail] W www.wsfg.hk

Other Information

The GS Superhighway, which runs through Guangzhou, Dongguan and Shenzhen, is 122.8 km in length with approximately 28,000 mu (or approximately 18 million square metres) of acquired land for road construction purpose, and has 23 toll stations or interchanges. According to preliminary studies, it is estimated that approximately 10 toll stations or interchanges are suitable to undergo traffic layout transformation for land utilisation in order to release land for comprehensive development. Before such released land can be utilised for comprehensive land development of different types after necessary change of the nature of the land use, such released land should fulfill the urban planning requirements of local governments, the expansion plan of the GS Superhighway, complete the relevant procedures in relation to the change of land use and obtain the land use rights for future development. However, as the change of land use needs to be carried out in accordance with the relevant urban planning and regulations in the PRC, there is uncertainty as to whether the relevant procedures for the change of land use can eventually be completed and the land use rights for future development can be obtained, and as to the final type of land use, land size and completion time of any future land development.

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About Shenzhen Investment Holdings Bay Area Development Company Limited

Listed on The Stock Exchange of Hong Kong Limited in August 2003, Shenzhen Investment Holdings Bay Area Development Company Limited (formerly known as Hopewell Highway Infrastructure Limited) focuses on the development of infrastructure and related businesses in the Guangdong-HongKong-Macao Greater Bay Area.

This press release is issued by Wonderful Sky Financial Group Limited on behalf of Shenzhen Investment

Holdings Bay Area Development Company Limited.

For further information, please contact:

Wonderful Sky Financial Group Limited

Cecilia Ip / Khloe Li

Tel：[phone]

Fax：[phone]

Email：[e-mail] / [e-mail]

Wonderful Sky Financial Group	皓天財經集團
9/F, The Center, 99 Queen's Road Central, Central, Hong Kong
香港中環皇后大道 99 號中環中心 9 樓
T 852 2851 1038 F 852 2815 1352	E [e-mail] W www.wsfg.hk