Shoucheng : VOLUNTARY ANNOUNCEMENT EXTENSION OF TERM OF BEIJING DAXING AIRPORT PARKING PROJECT AND BEIJING CAPITAL AIRPORT PARKING PROJECT

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

EXTENSION OF TERM OF BEIJING DAXING AIRPORT PARKING PROJECT AND BEIJING CAPITAL AIRPORT PARKING PROJECT

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

On 18 November 2021, the non-wholly-owned subsidiaries of the Company entered into a supplementary agreement respectively with each of Capital Airports Holdings Limited and Beijing Capital International Airport Company Limited extending the term of the parking buildings project in Beijing Daxing International Airport ("Daxing Airport") (the "Daxing Airport Parking Project") and the parking buildings and lots project in Beijing Capital International Airport ("Capital Airport") (the "Capital Airport Parking Project") for additional 3 years respectively.

北京首中停車管理有限公司(Beijing Shouzhong Car Parking Management Co., Ltd.*), a non-wholly-owned subsidiary of the Company, is responsible for operating the Daxing Airport Parking Project for a term of 20 years from the date of commencement of operation (which has been put into operation along with the terminals since 25 September 2019) which is renewable for 5 years pursuant to its original agreement. After this extension for additional 3 years pursuant to the supplementary agreement, the term of the Daxing Airport Parking Project will be 28 years, up to 24 September 2047. Daxing Airport Parking Project is the first PPP-like project in civil aviation parking field which created a precedent for social investors to participate in the investment, construction and operation of national key projects. According to the report of Civil Aviation Administration of China, as of 22 September 2021, Daxing Airport has accumulated a total passenger throughput of 38.9423 million, flight took-off and landed reaching 314,600 sorties, and cargo and mail throughput of about 215,400 tonnes since it was put into operation. Daxing Airport will be built into a "safe, green, intelligent and humanistic" airport with high starting point, high standard and high quality, becoming a new benchmark for the construction and operation of international aviation hub, a world-class, convenient and efficient new gate, and a new engine for the coordinated development of Beijing, Tianjin and Hebei.

1

On 30 December 2019, 北京首中靜態交通停車管理有限公司(Beijing Shouzhong Jingtai Transportation Carpark Management Co., Ltd.*), a non-wholly-owned subsidiary of the Company, acquired the operation right of the Capital Airport Parking Project for a term of 15 years from 1 January 2020, the handover of which was completed successfully on 1 January 2020. After this extension for additional 3 years pursuant to the supplementary agreement, the term of the Capital Airport Parking Project will be 18 years, up to 31 December 2037.

From the beginning of 2020, the outbreak of COVID-19 pandemic severely impacted the domestic and international travel, and the passenger throughput of Daxing Airport and Capital Airport was negatively affected. With the control and mitigation of the domestic pandemic, the arriving passengers volume of Daxing Airport has increased significantly since March 2021, the passenger load factor has increased from 40% to 80%, and the departing passengers volume is also gradually increasing. Since 31 October 2021, Daxing Airport has officially implemented the flight plan in the winter aviation season and the total passenger flight time in the winter airlines season will reach 899 per day, and China Southern Airlines, China Eastern Airlines and China United Airlines have opened new routes. The passenger throughput of the Capital Airport for the six months ended 30 June 2021 decreased by approximately 63% compared to the six months ended 30 June 2019 (i.e. before the COVID-19 pandemic), while increased by approximately 40% compared to the six months ended 30 June 2020.

This extension of the term of the Daxing Airport Parking Project and the Capital Airport Parking Project for additional 3 years shows the recognition and trust of the partners in the Group's operation ability in parking and travel business, especially in transportation hub parking projects, which is beneficial for keeping "one city, two airports" operation pattern of the Company in Beijing. With better airports construction and increase of passenger throughput, it will make up the losses brought by COVID-19 pandemic to a certain extent, and it will strengthen the business interaction and service extension of the two airports projects in Beijing to improve the overall revenue of the Group. The Group will continue to provide good travel support services and enhance the operation capacity of transportation hub parking projects in order to expand the leading edge in the field and to give back to the market with better products and services.

By order of the Board

Shoucheng Holdings Limited

Zhao Tianyang

Chairman

Hong Kong, 18 November 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