The board of directors of Hsin Chong Group Holdings Limited announced that, given that each of the company and Sunny Wealth Group Co. Ltd. possess its own advantages, on May 28, 2016, the company entered into a memorandum of understanding with Sunny Wealth in relation to cooperative development of projects in Macau and Southeast Asia, with an aim to enhance the efficiency of development and construction, and resources allocation of both parties in the property field in Macau and Southeast Asia, facilitate the cooperation in property and different fields between both parties so as to increase market shares.