Hopewell Highway Infrastructure : Shenzhen Investment Holdings Bay Area Development Co Ltd Announces 2019 Interim Results

For Immediate Release

August 8, 2019

Shenzhen Investment Holdings Bay Area

Development Company Limited

深圳投控灣區發展有限公司

(Formerly known as Hopewell Highway Infrastructure Limited 合和公路基建有限公司)

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

Shenzhen Investment Holdings Bay Area Development

Co Ltd Announces 2019 Interim Results

Highlights

Driven by the continuous growth in toll revenue and traffic of the GZ West Superhighway, the Company's share of its net profit increased by 30% YoY to RMB96 million

The Company's net profit increased by 2% YoY to RMB303 million, mostly benefiting from the decrease in exchange loss

The interim dividend for 2019 is RMB9.8 cents (equivalent to HK10.971394 cents) per share

During the report period, the name of the Company was changed to "Shenzhen Investment Holdings Bay Area Development Company Limited"

A strategic cooperation framework agreement was entered with China Vanke Co., Ltd. (萬科企業股份有限公司) in June 2019, in relation to the intensive development and utilization study of the land along the GS Superhighway traffic route

Prospect

The GZ West Superhighway has been achieving healthy growth since its opening and is expected to continuously benefit from the prosperous economic and road network developments, including the commenced HZM Bridge, Nansha Bridge and the economic development in the Guangdong-HongKong-Macao Greater Bay Area ("Greater Bay Area")

The stabilizing interest rates of the US dollar will bring benefits in maintaining the Company's solid financial position

Net dividend after tax of approximately RMB600 million is expected to receive from the GS JV in 2019 and the target payout ratio of 100% on a full-year basis is sustainable, adding that the GZ West JV will distribute dividend in cash to the Company starting from 2020

香9/F,Wond港中The環rful皇Center,后Sky大道99Financial9Queen's號中環中GroupRoad心 9 樓Central,皓天財Central,經集團Hong Kong

T 852 2851 1038 F 852 2815 1352 E [e-mail] W www.wsfg.hk

(August 8, 2019 - Hong Kong) Shenzhen Investment Holdings Bay Area Development Company Limited (the "Company"; SEHK trading ticker: 737 (HKD counter); 80737 (RMB counter)) announces today its interim results for the six months ended 30 June 2019 (the "report period").

The aggregate average daily toll revenue generated by the GS Superhighway and the GZ West Superhighway amounted to RMB12.69 million during the report period, basically flat as compared to the corresponding period last year. Total toll revenue was RMB2.296 billion, of which GS Superhighway's average daily toll revenue and average daily full-length equivalent traffic were RMB8.73 million and 98,000 vehicles, reduced by 4% and 3% YoY respectively while GZ West Superhighway's average daily toll revenue and average daily full-length equivalent traffic reached RMB3.95 million and 56,000 vehicles, increased by 7% and 10% YoY respectively.

During the report period, the Company's share of net profit of the GS JV decreased by 10% to RMB236 million. However, its share of the GZ West JV's net profit increased substantially by 30% to RMB96 million. Total net profit of the two expressway projects (excluding exchange differences on the GS JV's US Dollar and HK Dollar loans, net of related income tax) decreased slightly by 1% to RMB332 million. Owing to a significant reduction of the net exchange loss (including exchange loss on the GS JV's US Dollar and HK Dollar loans shared by the Company), profit attributable to owners of the Company grew by 2% to RMB303 million, equivalent to RMB9.84 cents per share.

The Board declared an interim dividend for 2019 of RMB9.8 cents per share. The Company maintained a healthy financial position, where the Board believes that the Company's target payout ratio of 100% on a full-year basis is sustainable. The Company expects to receive the net dividend after tax of approximately RMB600 million from the GS JV in the year 2019, of which RMB256 million has already been received during the report period, providing solid bases for its dividend payment. In addition, in view of the steady growth in toll revenue of the GZ West Superhighway, it is expected that the GZ West JV will be able to distribute dividend in cash to the Company starting from 2020.

香9/F,Wond港中The環rful皇Center,后Sky大道99Financial9Queen's號中環中GroupRoad心 9 樓Central,皓天財Central,經集團Hong Kong

T 852 2851 1038 F 852 2815 1352 E [e-mail] W www.wsfg.hk

控During灣區發the展report有限公period,司" the Chinese name of the Company has been changed to"深圳投 and its English name has been changed to "Shenzhen Investment Holdings Bay Area Development Company Limited". Meanwhile, the stock short names for

trading in the shares of the Company on The Stock Exchange of Hong Kong Limited is changed to"灣區發展"in Chinese and"BAY AREA DEV" in English. Since the future development strategy of the Company will be focusing on the infrastructure and related businesses in the Greater Bay Area, hence the Company believes the new name can better reflect its business development direction and corporate image.

Also, the Company had entered into a strategic cooperation framework agreement with China Vanke Co., Ltd. during the report period to carry out all-round strategic cooperation in relation to the development and utilization study of the land and project cooperation along the GS Superhighway traffic route and other land development projects designated by the Company. By leveraging on the respective financial and technical resources and expertise of each other, both parties will achieve comprehensive cooperation in infrastructure construction in aspects such as smart cities, smart parks and intelligent transportation.

The GS JV has already carried out a feasibility study on road expansion, so as to improve traffic efficiency as well as land utilisation by increasing the number of traffic lanes on the main alignment and optimising interchange design and land use layout.

Management of the Company commented: "With the economic upgrade of cities in the Greater Bay Area, the traffic volume will keep increasing. We believe that the future operations of the GS Superhighway and the GZ West Superhighway will benefit continuously side by side, thereby supporting the Company's long-term business performance."

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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 / Ivy Chen

Tel：[phone]

Fax：[phone]

Email：[e-mail] / [e-mail]

香9/F,Wond港中The環rful皇Center,后Sky大道99Financial9Queen's號中環中GroupRoad心 9 樓Central,皓天財Central,經集團Hong Kong

T 852 2851 1038 F 852 2815 1352 E [e-mail] W www.wsfg.hk