First Sponsor（ADN）年次報告書

The Company was incorporated in the Cayman Islands on 24 September 2007 as an exempted company with limited liability under the Cayman Companies Law.

The Group has three key operating segments in the People’s Republic of China (the “PRC”), namely property development, property holding and property financing. In respect of its property development business segment, the Group develops residential and commercial properties in tier-two cities in the PRC, namely Chengdu and Dongguan, which includes commercial properties in which not more than 50.0% of the gross floor area of such development is owned, leased or sold for hospitality purposes. The Group’s property holding business segment consists of hotel ownership and operations as well as investment properties held for rental income. In respect of its property financing business segment, these are conducted primarily through secured entrusted loan arrangements, with a particular focus in Shanghai. Moving forward, the Group may selectively expand its property financing business into Chengdu, Dongguan and certain tier-one cities.

The Group is supported by both its established key controlling shareholders, the Hong Leong group of companies (“Hong Leong Group Singapore”), through its shareholding interests in Millennium & Copthorne Hotel plc, and Tai Tak Estates Sendirian Berhad ("Tai Tak"), both which are well recognised and respected in Asia, including in the PRC.

Hong Leong Group Singapore is a globally diversified conglomerate and its core businesses include investment holding, property holding and development, hotel ownership and management, hospitality real estate management, financial services and manufacturing, trading and distribution.

Tai Tak is a private company with a long operating history which was incorporated in Singapore in 1954. It currently invests in a wide range of businesses, including plantations, listed and private equities and property holding and development.

Together, these key controlling shareholders possess extensive business experience and networks in the PRC, which have and will continue to contribute significantly to the Group's business and growth.

The Group's business strategy include focusing on growing its property development business in Chengdu and Dongguan, with selective expansion into other high growth markets, continuing to focus on mass market residential property developments, developing and growing its portfolio of long-term properties held for income, grow our strategic affiliation with M&C UK and prudent expansion of its property financing business in the PRC.