Below is a simplified corporate structure of the Group as at 31 December 2022 and Which excludes intermediate holding entities, and the percentages of interests shown represent the percentages for which the Group has acquired effective control.

(1) Listed company in Hong Kong
(2) Listed company in the PRC
(3) Only projects in operation are included
(4) SZI Logistics Hub (Nanchang), SZI Logistics Hub (Hangzhou) Phase II and SZI Logistics Hub (Hefei Feidong) are held by Shenshi Smart Logistics Infrastructure Private Equity a Partnership (Limited Partnership), a joint venture held by the Group as to 40% equity interest

The English names of the PRC entities are translations of their Chinese names and included herein for identification purpose only. In the event of any inconsistency, the Chinese names shall prevail.