Powerlong Real Estate Holdings Limited announced that Final Dividend of HKD 0.1 per share (which would be payable in cash with a scrip option to receive the Final Dividend, in whole or in part, in the form of New Shares in lieu of cash pursuant to a Scrip Dividend Scheme) was approved by the shareholders of the Company at the Annual General Meeting held on 17 June 2022, and was expected to be paid on or around 21 October 2022 to the Shareholders whose names appeared on the register of members of the Company after the close of business on 27 June 2022. In addition, a circular for the Scrip Dividend Scheme and the relevant election form were expected to be despatched to the Shareholders after the Annual General Meeting. The Scrip Dividend Scheme would be conditional upon the Listing Committee of the Stock Exchange granting the listing of, and permission to deal in, the New Shares to be issued under the Scrip Dividend Scheme.

In face of the complexity and severity of the economic environment, the sporadic spread of the COVID-19 pandemic in various places and the multiple challenges posed by the intense adjustments of the real estate industry in China, the Board has resolved, after careful consideration, to change the payment date of the Final Dividend to be on or around 20 October 2023, in order to preserve the cash resources of the Group for working capital purposes in these difficult times. The Board believes that the change is in the interest of the Company and the Shareholders as a whole. Save as disclosed above, all other information in relation to the payment of the Final Dividend as mentioned in the Announcements shall remain unchanged.

Further announcements ll be made by the Company in relation to the payment arrangement of the Final Dividend and/or despatch of the circular and election form for the Scrip Dividend Scheme as and when appropriate.