CHAIRMAN'S MESSAGE

My first engagement in the PRC property market dates back to 1978, when I had the good fortune of participating in the development of what was at the time one of the first 5-star hotels in China, the Nanjing Jinling Hotel in my native city of Nanjing.

We have become involved in other projects since then, yet none of them more defining and rewarding than our ventures in Suzhou. The year was 1991, barely a year after the Suzhou municipal government commenced the development of the western part of the city, known as the Suzhou National New & Hi-tech Industrial Development Zone. We were among the first foreign developers to build residential apartments, villas, and retail facilities within the area for the first wave of foreign direct investment companies and industries setting up in Suzhou. Thereafter, from 2002 to 2004 we built and sold Suzhou Garden Court to local purchasers after the differentiation between Foreign Buyer housing and Local Buyer housing was merged, giving them a first taste of internationally designed residential real estate for domestic homeownership.

Today, decades after the first groundbreaking ceremony at the site of Suzhou Garden Villa, New Heritage Holdings Ltd. enjoys a well-earned reputation as a developer of quality residential properties in Suzhou. Our deserved status is founded not only upon the sheer scale of our developed properties for that time, but also upon our insistence on quality living, made possible by a combination of innovative designs, stringent quality control and rigorous management.

While Land is where we started out, it is the People that our efforts will ultimately serve. Leveraging on our local synergy, our technical expertise, and the dedication of our experienced staff, we aspire to bring into reality the whole philosophy of "quality living". Our satisfied customers are, and will continue to be, a living testimony to the success of our mission.