Shenzhen Investment Limited announced that on 3 July 2024, the Company as borrower accepted a facility letter relating to a revolving loan facility of HKD1,000,000,000 offered by a bank as lender. The term of the Facility is 3 years. Pursuant to the Facility Letter, it will be an event of default if (i) Shum Yip Holdings Company Limited ("Shum Yip") ceases to own beneficially at least 35% of the issued share capital of the Company, ceases to be the single largest shareholder of the Company or ceases to have control over the Company; or (ii) Shum Yip ceases to remain directly or indirectly beneficially owned as to at least 51% by the Shenzhen Municipal People's Government of the People's Republic of China.

If the above event of default occurs, the bank may cancel the Facility; declare that all or part of the amounts (including principal, accrued interest and all other outstanding amount) due and owing by the Company under the Facility Letter be immediately due and payable; and/or declare that all or part of the loans be payable on demand. As at the date of this announcement, Shum Yip beneficially holds approximately 62.33% (and when aggregated with the interests held through its wholly-owned subsidiary, approximately 63.19%) of the issued share capital of the Company and the Shenzhen Municipal People's Government of the People's Republic of China holds 100% interest in Shum Yip.