Soundwill : Announces 2015 Annual Results Leasing Segment Presented a Stable Performance

For Immediately Release

To: Property/ Finance Editors

Soundwill Holdings Limited Announces 2015 Annual Results Leasing Segment Presented a Stable Performance Press Release

Hong Kong, 23 March 2016 - Soundwill Holdings Limited (the "Group"; Stock code: 878) today announces its annuals results for the year ended 31 December 2015. During the year, a turnover of HK$540,491,000 was recorded, representing a decrease as compared with last year. The decline in turnover was mainly due to the decrease in income recorded from the property development projects. The net assets of the Group declined to HK$16,531,157,000 and the profit before income tax expense decreased to HK$23,075,000. These decreases were mainly attributable to the decrease in income recorded from the property development projects and the increase in net loss on fair value adjustments on investment properties. Net asset value per share is HK$57.9. The Board recommends a payment of a final dividend of HK$0.2 per share for the year ended 31 December 2015.

The Group's property leasing segment recognized a revenue of HK$514,934,000 during the year, increased by 13% as compared with last year. The growth was mainly attributable to the lease renewal of investment properties and the new rental income of Soundwill Plaza II - Midtown, which further solidified the Group's profit foundation.

Ms. Chan Wai Ling, the Executive Director of Soundwill Holdings Limited, said, "Facing the depreciation of Renminbi, as well as the decline in the number of inbound visitors and the weakening consumption of PRC visitors, the Hong Kong retail and rental property markets were inevitably influenced. Being one of the major players, the Group's rental performance was also indirectly affected during the year. Nevertheless, the Group strategically refined its approach to mitigate the impacts. The Group regularly organized featured activities in Soundwill Plaza I and Soundwill Plaza II - Midtown, the Group's flagship properties, which created the synergy within the Group, as well as fostered the interaction with peers. As a result, the overall revenue from the property leasing segment grew steadily, and the occupancy rate remained at a high level during the period. Despite the Hong Kong retail market has been undergoing an adjustment stage, the limited property supply and entry of newly listed enterprises stimulated the demand for high quality offices. In addition, the Group timely identified and strategically responded to market changes. A satisfactory sale performance of iPLACE was resulted. It proved that our brand is widely-recognized by the market."

The Group will cautiously monitor the development in the property market, while pay close attention to the change in the global economy and the financial market. With an aim to prevent the Group from any adverse effects, the Group shall make corresponding business adjustments in response to market changes.

Looking ahead to 2016, in spite of the uncertainties posted to the global economy, the Group will continue to champion the long-term interests of its shareholders. To achieve the goal, the Group will replenish its land bank through a variety of channels, and continue to develop its business prudently by launching new projects at opportune times.

Against the backdrop of the challenging economy, these strategies, along with the solid foundation of the Group, will allow the Group to capture business opportunities, overcome challenges and achieve a stable and sustainable business development.

About Soundwill Holdings Limited

Established in 1978 and listed on the Main Board of the Hong Kong Stock Exchange in 1997, Soundwill Holdings Limited is principally engaged in old building assembly and acquisition, commercial leasing and property development.

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Soundwill Holdings Limited

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