We refer to the Company's announcement dated 12 July 2021 in relation to the announcement made to The Stock Exchange of Hong Kong Limited ("The HKEx") by Parkson Retail Group Limited ("PRGL"), a 54.97% owned subsidiary of the Company listed on The HKEx, on the discloseable transaction in relation to the Tenancy Agreement in respect of a property in Yichun City, the People's Republic of China ("Property") ("PRGL Earlier Announcement") ("Announcement").

Unless otherwise stated, the terms used throughout this announcement shall have the same meaning as defined in the Announcement.

On 16 July 2021, PRGL had made a supplemental announcement to provide supplementary information on the identities of the ultimate beneficial owners of Yichun Hong Lin Hotel Co., Ltd., the landlord of the Property ("Landlord") ("PRGL Announcement"). A copy of the PRGL Announcement is attached herewith.

The Landlord is wholly-owned by Guangxi Honglin Investment Co., Ltd. which is in turn ultimately owned by Zhang Falin (61%) and Zhang Dayong (39%). The Landlord and its respective ultimate beneficial owners are third parties independent of, and not connected with PRGL and its connected persons.

Save as disclosed in the PRGL Earlier Announcement and above, all other information as set out in the PRGL Earlier Announcement remain unchanged and shall continue to be valid for all purposes, while the PRGL Announcement is supplemental to and should be read in conjunction with the PRGL Earlier Announcement.