Set out below is a simplified corporate structure of the Group as at 31 December 2023 which excludes intermediate holding entities, and the percentages of interests shown represent the percentages for which the Group has effective control.

(1) Listed company in Hong Kong
(2) Listed company in the PRC
(3) SZI Logistics Hub (Hangzhou Phase II), SZI Logistics Hub (Hefei Feidong) and SZI Logistics Hub (Nanchang Jingkai) are held by Shenshi Smart Logistics Infrastructure Private Equity Partnership (Limited Partnership), a joint venture held by the Group as to 40% equity interest.
(4) The simplified corporate structure of the Group only included corporate entities and projects which are in operation as at 31 December 2023.

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.