Shoucheng : VOLUNTARY ANNOUNCEMENT ENTERING INTO CONCESSION CONTRACT OF ZHANGJIAKOU NINGYUAN AIRPORT PARKING LOTS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

VOLUNTARY ANNOUNCEMENT

ENTERING INTO CONCESSION CONTRACT OF

ZHANGJIAKOU NINGYUAN AIRPORT PARKING LOTS

This announcement is made by Shoucheng Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

Recently, a wholly-owned subsidiary of the Company, won the bid for the parking lots (space) concession leasing service project of 張家口機場有限公司 (Zhangjiakou Airport Co., Ltd.*), entered into a concession contract with Zhangjiakou Airport Co., Ltd. and obtained the five-year operation right of the public parking lots at the T1 terminal and T2 terminal of Zhangjiakou Ningyuan Airport ("Zhangjiakou Airport").

Zhangjiakou Airport is located in Zhangjiakou, one of the host cities of the "Beijing 2022 Winter Olympics", and is 9 kilometers away from the center of Zhangjiakou. On 31 July 2015, Beijing successfully co-bided with Zhangjiakou to host the 2022 Winter Olympics and Zhangjiakou Airport undertook the task of air transportation support related to the Olympics. In order to better serve the support work of the Winter Olympics, in October 2018, the reconstruction and expansion project of Zhangjiakou Airport was officially launched, and in August 2020, the newly-built T2 terminal of Zhangjiakou Airport was officially put into operation. With the convening of the "Beijing 2022 Winter Olympics" and the permanent preservation of the Winter Olympics competition venues as the Olympic heritage and the establishment of the Olympic Park, it is expected that Zhangjiakou Airport will be able to provide high-quality services to more passengers and usher in a period of high-quality development with the help of the above resources.

The successful obtainment of the parking lots (space) concession leasing service project of Zhangjiakou Airport is the 10th airport parking lots operated by the Company. The successful operation of this project has further consolidated the Company's leading position in the airport parking field. It is also another embodiment of the Company's in-depth and all-round service for the Winter Olympics after obtaining the Chang'an Mills parking lots

1

project and the Beijing-ZhangjiakouHigh-speed Railway parking lots project. The Group will continue to adhere to the layout concept of "key cities + core locations + quality assets" and continue to provide customers with high-quality parking products and comfortable parking experience with the help of professional management capability and rich project experience.

By order of the Board

Shoucheng Holdings Limited

Zhao Tianyang

Chairman

Hong Kong, 31 December 2021

As at the date of this announcement, the Board comprises Mr. Zhao Tianyang (Chairman), Mr. Xu Liang, Mr. Li Wei (President) and Ms. Zhang Meng as Executive Directors; Mr. Liu Jingwei, Mr. Ho Gilbert Chi Hang, Mr. Li Hao and Dr. Zhao Xianming as Non-executive Directors; Dr. Wang Xin, Mr. Choi Fan Keung Vic, Mr. Deng Yougao, Ms. Zhang Quanling and Ms. Zhuge Wenjing as Independent Non-executive Directors.

* for identification purpose only

2