About CHINA NEWCITY Company

The company is a commercial property developer, owner and operator, specializing in the development of commercial complexes in the sub-urban centers of second-tier cities in the Yangtze River Delta region. The company's business covers three main areas: (i) property sales; (ii) property leasing and property management; and (iii) hotel operations. In the future, we will expand land development business and other urbanization-related businesses and services in different towns, counties and cities in China through cooperation agreements with local government departments in China. Our business model is to sell a number of properties to immediately recover funds to support business, operation and expansion plans, and strategically reserve other properties as stable recurring rental income and long-term capital appreciation. We believe this business model allows us to diversify our revenue streams and payback periods. Looking ahead, although we expect to sell more commercial properties in the future than we have recorded, we will continue to use this business model.