Kong Shum Union Enters into a Non-Legally Binding LOI with Tencent Group's Payment Solutions Enterprise Partner to Actively Develop E-Commence Business

HONG KONG, Mar 30, 2015 - (ACN Newswire) - Kong Shum Union Property Management (Holding) Limited (stock code: 8181) ("Kong Shum Union" or the "Company") today announced that the Company and Q International Holdings Limited ("Q International"), a certified payment solutions enterprise partner to Tencent Group, entered into a non-legally binding LOI in respect of the proposed subscription of subscription shares and convertible notes in Q International. Including another non-legally binding LOI signed on 4 March 2015, this is the second LOI the Company has signed which demonstrates the active progress of the Company's e-commerce business development. Q International engages in the business of payment solutions through its operating subsidiaries in Hong Kong and the PRC. Being as a certified enterprise partner to Tencent Group, it receives commissions including distribution fees, transaction fees and residual value sharing through the distribution of prepaid cards of Tencent Group. Q International also operates the overseas Quick Response (QR) payment gateway of Tencent Group's one-stop online payment platform "Tenpay". Upon completion of the subscriptions of subscription shares and the conversion of the convertible notes into conversion shares, the Company will become the legal and beneficial owner of not more than 51% of the voting rights of Q International. Q International shall provide a profit guarantee in favour of the Company in an amount to be further negotiated and agreed between the parties. Mr Liu Dan, Executive Director of Kong Shum Union, said, "Driven by our goal to capture enormous opportunities arise in this flourishing industry, we are pleased to enter into another non-legally binding LOI with Q International, shortly followed by our first non-legally binding LOI signed on the proposed investment in Marco Polo E-Commerce in early March, to actively develop and expand business to e-commence industry. Leveraging these groups' well established position and reputable e-commence service proven by their business ties with the renowned brands such as Tencent Group and Alibaba, we are confident that our new business development will be expanded effectively, hence accelerating our business growth and eventually bringing greater value to our customers."The Company has aggressively taken gradual steps to develop and expand business in e-commence industry. On 4 March 2015, the Company entered into a non-legally binding LOI in respect of the proposed investment in Marco Polo E-Commerce (Holdings) Limited ("Marco Polo E-Commerce") by its intended subscription for certain new and purchase certain existing shares in the subject company which holds 76% shareholding interest in Marco Polo E-Commerce. Upon completion, the Company shall own not more than 50% shareholding interest of the subject company. As of 4 March 2015, Marco Polo E-Commerce owns 23.24% equity interest in UCO, an e-commerce service provider, providing services linking a number of international cosmetic brands with internet trading platforms on a business-to-customers (B2C) basis and related services. Alibaba.com Investment Ltd. (Corporation) is currently one of the shareholders of Marco Polo E-Commerce. Looking ahead, Mr Liu Dan said "Kong Shum Union will closely monitor the e-commence industry to identify the developments; proactively undertaking effective strategies to address new trends while seeking to capture greater opportunities. We look forward that the new business will contribute to growth momentum for the Company."About Kong Shum Union Property Management (Holding) Limited (stock code: 8181)Kong Shum Union Property Management (Holding) Limited, incorporated in the Cayman Islands with limited liability and the issued shares of which are listed on GEM. The principal activities of the Company are provision of property management services. The Company is currently planning to develop and expand its business to e-commence industry. For investment community and media enquiry, please contact:Kong Shum Union Property Management (Holding) LimitedInvestor Relations DepartmentJanice Lam Tel: +(852) 3188 9088 Email: [email protected]Stella Chiu Tel: +(852) 3188 9088 Email: [email protected]Fax: +(852) 3188 9811Strategic Financial Relations LimitedHeidi So Tel: +(852) 2864 4826 Email: [email protected]Karen Tang Tel: +(852) 2114 4951 Email: [email protected]Doris Au Yeung Tel: +(852) 2114 4318 Email: [email protected]Fax: +(852) 2527 1196 Copyright 2015 ACN Newswire . All rights reserved.

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