About MAN SANG INT'L Company

Minsheng International Limited (the “Company”) is listed on the main board of The Stock Exchange of Hong Kong Limited (stock code: 938). The Company was incorporated in Bermuda as an exempted limited liability company under the Bermuda Companies Act 1981 (as amended). Its registered office address is Clarendon House, 2 Church Street, Hamilton HM11, Bermuda. The Group focuses on developing, selling and leasing properties in mainland China. Chongqing property In July 2016, the Group completed the acquisition of a property located in the central business district of Chongqing, China (“Chongqing Property”). Chongqing Property is located in the Jiefangbei commercial district of Yuzhong District, close to Jiefangbei Pedestrian Street, which is a pedestrian street full of countless retail stores. Given the geographical location of Chongqing Property, the Group believes that Chongqing Property will benefit from high traffic in neighboring regions and hopes to develop Chongqing Property as a new landmark in Yuzhong District. Property in Chongqing is currently undergoing redevelopment, including the refurbishment of commercial buildings into commercial/residential buildings that will be sold and/or leased without the structure being dismantled. The redevelopment is expected to be completed in or before the first quarter of 2019. Once the redevelopment is completed, Chongqing property will include residential apartments for sale, serviced apartments for rental use, and retail units in shopping malls for rental use. So far, Chongqing Property has completed part of the redevelopment project, and residential apartments will be available for sale from March 2017. As the Group anticipates that property prices in Chongqing will continue to rise in the future, the Group's current business strategy is to slow down and gradually sell residential apartments to the public in order to benefit from the anticipated increase in property prices in Chongqing. The remaining redevelopment projects include serviced apartments (to be managed by an internationally renowned hotel management group) and shopping malls, which are expected to be completed and available for rent in or before the first quarter of 2019. It is estimated that serviced apartments and shopping malls will provide a stable and long-term source of revenue for the Group.