Greenland Group invested HK billion to become the controlling shareholder of Shenggao M88 Malaysia Estate

May 8，Greenland Group signed an additional share issuance subscription agreement with Hong Kong listed company Shenggao Land Holdings Limited (Hong Kong Stock Exchange Stock Code: 00337)，According to agreement，Greenland Group will use its wholly-owned subsidiary Gronxima International Co., Ltd. registered in Hong Kong as the acquisition subject，Subscription for additional ordinary shares and non-voting convertible preferred shares issued by S&G M88 Malaysia Estate for a total consideration of approximately HK billion，After the completion of the transaction, Greenland Group will hold 60% of the expanded share capital，Become the controlling shareholder of Shenggao M88 Malaysia Estate。After transaction is completed，Sachs Land will change its name to "Greenland Hong Kong Holdings Limited" ("Greenland Hong Kong Holdings Limited")。

Go to Hong Kong to invest and hold listed companies，Promote the securitization of some industrial assets，It is Greenland Group’s goal to build a world-class enterprise，An important measure to further increase capital operation and overseas business development。This holding of Shenggao M88 Malaysia Estate is beneficial to Greenland Group, which is currently accelerating its international expansion，Will vigorously enhance Greenland’s global influence and ability to obtain global resources，Open up and realize greenfield overseas development、Strategic layout of resource integration and innovative financing，This will help Greenland achieve greater and more stable development on a global scale。

Greenland Group’s subscription price for new shares of Shenggao Land is 1 per share.HKD 90，After the subscription is completed, shareholders can also receive 1 share per share based on the combined shares.Special dividend of HK5 in cash。SGS M88 Malaysia Estate suspended trading on April 19th，The closing price on the last trading day before the suspension was 3 per share.HKD 820，adjusted 1 per share.The closing price on the last trading day after the special cash dividend of HK5 was 2 per share.HKD 545。Greenland Group’s subscription price 1.HKD 90 is a discount of approximately 25% to the closing price on the last trading day after the adjustment.3%。At the same time，The Shanghai Peninsula Hotel, which is 50% owned by Shenggao Land, will be divested to the current major shareholder, Chairman of the Board of Directors Wang Weixian for personal ownership。

After the joint announcement，The capital market responded enthusiastically。International rating agencies Standard & Poor’s and Moody’s have successively raised the long-term credit rating of S&G M88 Malaysia Estate，Citibank and other international investment institutions have also commented positively on this。After SGS Land resumes trading on May 9，The stock price soared，The increase expanded further in the afternoon，Nearly 90% at one time。As of the close of the day，Singapore Land closes at 7.HKD 14，Up 86% from before the suspension.91%，Fully reflects the warm welcome and high recognition of Greenland Group by the international capital market and investors。

SGC Land was established in 1998，Mainly engaged in M88 Malaysia estate development and hotel investment、Property management and education industry，Listed in Hong Kong in 2006，Its M88 Malaysia estate development projects are deployed in more than ten cities in the Yangtze River Delta and other regions，Mainly mid- to high-end urban residences、Large urban complexes and high-end tourist M88 Malaysia estate，As of the end of 2012，Shenggao M88 Malaysia Estate has nearly 4.7 million square meters of land reserves in various places。