Sun Hung Kai Properties : and Tencent Announce Strategic Cooperation to Elevate the Smart Living Experience of Hong Kong Consumers

Sun Hung Kai Properties and Tencent Announce Strategic Cooperation to Elevate the Smart Living Experience of Hong Kong Consumers

Two industry leaders join hands to commit to a multi-phase campaign to bring consumers money-saving, value-added and convenient services
Largest mobile payment activation in Hong Kong ever, over HKD13 million to be handed out in special offers to celebrate the unique cooperation

Sun Hung Kai Properties Ltd. ('SHKP', SEHK: 16), a leader in the real estate industry, and Tencent Holdings Limited ('Tencent', 00700.HK), a leading provider of internet value added services in China, have formed a strategic cooperation to enhance the smart living standard of Hong Kong consumers. The cooperation integrates SHKP's extensive business, retail and telecom network, and Tencent's innovative technologies and leading mobile payment platform WeChat Pay HK to bring money-saving, value-added and convenient services to consumers across Hong Kong. Spanning across SHKP's 23 major malls, and business subsidiaries SmarTone and YATA department stores & supermarkets, this largest-ever mobile payment activation in Hong Kong will deliver an enhanced experience through a multi-phase campaign beginning this month. The coming-together of these two global innovators will mean a more convenient, secure and smart lifestyle journey for shoppers to pay for their everyday needs, uplifting the overall consumer experience.

Live Smart, All the Way!

Each leaders in their own field, the two companies are pooling their expertise to offer consumers a simpler and more convenient way to pay when they shop, dine, entertain, connect and travel. Whether you are shopping for your daily needs, savoring delicacies, hitting the cinema, enjoying seasonal produce from Japan at YATA department stores & supermarkets^[1], staying connected via SmarTone, or even travelling cross-border to China in the future, you can enjoy a brand new smart lifestyle experience. Thanks to SHKP's vast business, retail and telecom network, and Tencent's popular WeChat Pay HK, shoppers can now use an innovative, simple and secure mobile payment solution for all of these and more, living up to the idea of 'Live Smart, All the Way' embraced by SHKP and Tencent!

Mr. Christopher Kwok, Executive Director, SHKP, said, 'Today's announcement marks a step change in shopping and spending for all of our customers in Hong Kong. Through this cooperation with Tencent, we are spearheading the mall of the future - a new generation, high-tech mall that puts customer experience at the heart of its offering. At Sun Hung Kai Properties, we are committed to creating benefits for our customers and have long embraced innovation to engage and entertain them. Through harnessing intelligent technology, we will continue to enhance customer experience. Now, how our customers pay will be equally as advanced and innovative as the rest of our offerings. We hope that today marks the beginning of a new chapter, in which we will see more exciting smart-technology announcements to come.'

Mr. Jim Lai, Vice President of Tencent and Head of Tencent Financial Technology Group, said, 'We are excited about the strategic cooperation with Sun Hung Kai Properties, through which we aim to make smart living a reality for people in Hong Kong. Technologies make daily tasks easier, simpler and more secure. At Tencent, we provide cutting-edge financial technology which offers seamless mobile payment solutions that help support the development of smart retail and smart transport. By combining SHKP's expertise in retail and Tencent's leading technologies, we aim to enhance the consumer experience and empower consumers through greater flexibility and convenience as they go about their daily lives. We look forward to deepening our strategic cooperation with SHKP in the future.'

Exclusive Shopping Offers at SHKP Malls Using WeChat Pay HK

As the first wave of this multi-phase cooperation campaign, SHKP and Tencent will be offering unprecedented giveaways to shoppers between 20 October to 30 November, utilising WeChat Pay HK available at a rising number of merchants at 23 major shopping malls of SHKP across Hong Kong, Kowloon and the New Territories. Offers include:

OFFER 1:
- Shoppers can get two e-vouchers by scanning a specific QR code in participating malls, each worth HKD16.8^[2].

OFFER 2:
- Any customer spending HKD100 or above through WeChat Pay HK will receive a HKD20 e-voucher to spend at participating merchants at SHKP malls.^[3]
- Shoppers that spend HKD500 or above with WeChat Pay HK will receive a HKD50 e-voucher^[4] to spend at participating merchants at SHKP malls.

The cooperation also extends to SHKP's telecom subsidiary SmarTone, which is committed to innovation and technology leadership. It would connect prepaid SIM card top-ups and remittance to the Philippines and Indonesia through WeChat Pay HK for greater convenience. Offers which will be available between 20 October and 31 December include:

• WeChat Pay HK users will receive a promotional message to redeem a HKD5 SmarTone prepaid SIM top-up cash coupon^[5].
• Users who top up HKD100 or above to their SmarTone prepaid SIM accounts using WeChat Pay HK will receive a HKD20 We Remit cash coupon^[6].
• Users remitting HKD1,000 or above to the Philippines and Indonesia will receive a HKD10 SmarTone prepaid SIM top-up cash coupon^[7].

Shop and Pay Smart with WeChat Pay HK's Cross-border Mobile Payment

As part of the multi-phase cooperation campaign, SHKP and Tencent are exploring opportunities to support the recent launch of cross-border mobile payment by WeChat Pay HK, which provides Hong Kong travellers with mobile payment experience when visiting mainland China, hoping to bring Hong Kong shoppers convenience and value-added shopping, dining and entertainment experiences when they travel to the mainland.

Sun Hung Kai Properties and Tencent both hope to champion innovation, simple and secure payment and convenient shopping through this unique and innovative cooperation. For SHKP, this announcement shows a commitment to moving beyond the traditional business and retail practices, while delivering an intuitive and simple way to shop for their customers. For Tencent, this announcement will leverage its innovation and advanced technologies to enable a smart living lifestyle for Hong Kong people, and give WeChat Pay HK's growing user base a platform for secure and convenient payment, with offers and rewards as added bonus.

* Terms and conditions apply for all of the above listed promotions.

^[1] YATA department stores & supermarkets have accepted WeChat Pay (HKD and RMB wallets) at all 11 stores since 2017.

^[2] Each WeChat Pay HK user can get two HKD16.8 e-vouchers during the promotional period. First-come, first-served basis applies. The HKD16.8 e-voucher can be used at participating merchants at SHKP malls upon spending of HKD16.8 above within 14 days from the day of redemption.

^[3] Each WeChat Pay HK user can get two HKD20 e-vouchers during the promotional period. First-come, first-served basis applies. Each user can only get one HKD20 e-voucher or one HKD50 e-voucher per day. The HKD20 e-voucher can be used at participating merchants at SHKP malls upon spending of HKD20 above within 14 days from the following day of redemption.

^[4] Each WeChat Pay HK user can get one HKD50 e-voucher during the promotional period. First-come, first-served basis applies. Each user can only get one HKD20 e-voucher or one HKD50 e-voucher per day. The HKD50 e-voucher can be used in participating merchants at SHKP malls upon spending of HKD50 above within 14 days from the following day of redemption.

^[5] Each user can redeem one HKD5 coupon during the promotional period and use one coupon per transaction. Users can use the coupon against a minimum top-up amount of HKD50 to their SmarTone prepaid SIM accounts. The coupons are valid for 30 days from the day of issue.

^[6] Each user can redeem three HKD20 coupons during the promotion period and use one coupon per remittance to the Philippines and Indonesia. Users who top up HKD100 or above to their SmarTone prepaid SIM accounts can save HKD20 from a minimum of HKD500 remittance amount with the coupon via We Remit. The coupons are valid for 30 days from the day of issue.

^[7] Each user can redeem three HKD10 coupons during the promotional period and use one coupon per transaction. Users can use the coupon upon a minimum top-up amount of HKD100. The coupons are valid for 30 days from the day of issue.