The board of directors of Haichang Ocean Park Holdings Ltd. announced the official opening of Jinqiao Haichang Penguin Resort Hotel of the Group (the " Penguin Hotel") on 1 July 2024. The Penguin Hotel is a customized hotel invested and constructed by Shanghai Jinqiao Lin-Gang Comprehensive Zone Investment & Development Co. Ltd. (Shang Hai Jin Qiao Lin Gang Zong He Qu Tou Zi Kai Fa You Xian Gong Si) ("Jinqiao Group").

Upon the completion of construction, the Penguin Hotel is leased and operated by the Group for a term of 20 years. With a gross floor area of approximately 35,000 square meters and 372 parent-child guest rooms, the Penguin Hotel was awarded the Best Theme Hotel Prize of "GBE Hotel Design Awards 2023". Being equipped with "China's first immersive 360-degree hotel panoramic penguin display pond", the Penguin Hotel is committed to promoting the awareness of protecting the polars and the ocean through the immersive experience of penguin knowledge education and parent-child vacation.

Located at the intersection of Peifeng Road and Tengbo Road in Lingang New Area District of Pudong New District, Shanghai, the Penguin Hotel is only 10-minute driving distance from Shanghai Haichang Ocean Park ("Shan Park") and free shuttle buses are available for hotel guests to the Shanghai Park, who can enjoy themselves in the park without time limit within 2 days. By far, the Group has nearly 800 parent-child guest rooms in Shanghai Lingang Oriental Ocean Resort centered around the Shanghai Park, including the Penguin Hotel, Shanghai Haichang Ocean Park Resort Hotel and Shanghai Haichang Ultraman Theme Hotel, forming a cluster of parent-child resort hotels with distinctive features. In the future, two more theme hotels will be constructed in the Phase II of the Shanghai Park to further supplement parent-child theme resort hotels in such area, so as to continuously attract visitors, make the Shanghai Park more appealing and support regional economic growth.

The Board is of the view that the opening of the Penguin Hotel represents the first realization in the hotel sector since the implementation of the Group's asset-light strategic approach, marking a solid and landmark step on the path of the Group's asset- light hotel operation. In the future, the Group will steadfastly expand into new cities and regions and develop cultural and tourism projects under the asset-light model.