HON KWOK LAND (00160) and CHINNEY INV (00216): Subsidiaries plan to sell property of Tokyo Asakusa Hotel.

HON KWOK LAND (00160) and CHINNEY INV (00216) jointly announce that on April 6, 2026, The Bauhinia Hotels Group Japan 2 has entered into a sale and purchase agreement with the buyer (Daiwa House Industry Co., Ltd.) for the property at a price of 2.7225 billion Japanese yen (equivalent to approximately 133.4 million Hong Kong dollars, including local consumption tax). The Bauhinia Hotels Group Japan 2 is solely funded and controlled by the joint venture company (Optimal Trade Holdings Limited), and the joint venture company is owned 60% by Best Range Global (a direct wholly-owned subsidiary of Han Kwok Land and an indirect non-wholly owned subsidiary of Chinney Inv). The property is located in the 1st district of Asakusa, Taito Ward, Tokyo, Japan, with a total construction area of approximately 1,316 square meters, including 161 capsule rooms and 5 hotel rooms. The property will be delivered to the buyer in the form of an exchange agreement.