Kaisa Group Holdings Ltd. announced that it has entered into a strategic co-operation agreement with China Merchants Shekou Industrial Zone Holdings Co., Ltd. and China Great Wall Asset Management Co., Ltd. The parties to the agreement agree to co-operate by leveraging on their respective strengths, including (i) the Group's urban renewal reserves in core cities in the Greater Bay Area such as Shenzhen, Guangzhou, Dongguan and Foshan; (ii) China Merchants Shekou's expertise in comprehensive advantages of communities, commercial and industrial parks development; and (iii) China Great Wall's strength in asset management and integration of industry and finance. The co-operation will include but not limited to joint venture arrangements and asset acquisitions under the general principle that the parties all agree that they shall choose each other as preferred cooperative partners when it comes to a new business opportunity; as long as it is in compliance with the relevant laws and regulations. In addition to property development, the parties to the agreement shall discuss and strengthen their cooperation in cultural tourism, ferry and other businesses in the Greater Bay Area.

The Company considers that entering into the agreement is conducive to realising the Group's core value in the Greater Bay Area, promoting the transformation of urban renewal projects, revitalising the assets of commercial and residential projects, and alleviating short-term liquidity difficulties.