On November 27, 2024, Fosun Hive Overseas and Shaw Foundation signed a comprehensive strategic cooperation agreement at the Shanghai BFC Bund Financial Center, establishing a comprehensive strategic partnership in the global real estate sector, aimed at jointly advancing cooperation in global presence, strategic investments, asset value enhancement, and ESG initiatives.

Mr. Elvis Liu, Global Partner of Fosun and Co-Chairman of Fosun Hive Overseas, and Dr. Raymond Chan, Chairman of Shaw Foundation, jointly signed the comprehensive strategic cooperation agreement at the Shanghai BFC Bund Financial Center. The signing was witnessed by Ms. Iris Law, Fosun Assistant President and the Executive Chief Representative in Hong Kong and Macao.

Takuya Yamada, Chairman and CEO of Fosun Hive Overseas, stated, "The signing of this comprehensive strategic cooperation agreement marks a new chapter in the partnership between Fosun Hive Overseas and Shaw Foundation. In the future, both parties will continue to strengthen cooperation in global commercial real estate, working together to achieve shared goals and bring new momentum to the industry."

Dr. Raymond Chan stated, "This collaboration will create more development opportunities and foster cooperation between Fosun Hive Overseas and the Shaw Foundation. By employing a win-win cooperation approach, we aim to establish a framework for mutual benefit and long-term asset appreciation. This partnership will promote resource sharing, leverage complementary strengths, explore new markets, drive public sector development, and generate greater value for society and economic growth."

About Fosun Hive Overseas:

Fosun Hive Overseas is a globally real estate fund and asset management platform, with approximately $14 billion in assets under management as of the end of 2023. Operating across 16 countries in Asia, Europe, South America, and North America, Fosun Hive Overseas manages a diversified portfolio of assets, including landmark projects such as Liberty 28 in New York, Medelan in Milan, and Royal Exchange in London. It includes over 10 leading local asset management companies like IDERA Capital in Japan, Paref Group in France, Resolution Property in the UK, Four Trees in the US, and Rio Bravo in Brazil, offering commercial, residential, and mixed-use development projects to meet diverse client needs. One of the strategic cores of Fosun Hive Overseas is its commitment to Environmental, Social, and Governance (ESG) principles. By integrating ESG goals into investment, asset, and property management services, Fosun Hive Overseas aims to optimize client asset value, ensure long-term sustainability, and meet evolving global standards.

About Shaw Foundation:

Established in 1973 by the prominent Hong Kong industrialist Sir Run Run Shaw, Shaw Foundation is a non-profit charitable organization dedicated to making contributions in education, medical services, scientific research, arts and culture, and community development in Hong Kong, mainland China, and globally. With a diversified real estate investment portfolio in major cities worldwide, most of its rental income is used for charitable purposes. Through over half a century of efforts, the foundation's influence spans the globe, and it will continue to uphold the unwavering beliefs and commitments of its late founder, striving to give back to society and seek the welfare of people in the future.