Asia-Pacific Strategic Investments Limited - Annual Report 2021

entertainment facilities. We also plan to enhance the rich cultural and agricultural heritage of the area.

We believe that by tapping into ZTIHG’s wide network of 157 hotels in 14 Chinese provinces, Landison Huzhou will be able to expand its clientele base as well as raise the awareness and visibility of Huzhou’s rich cultural heritage and unique recreational sites such as the Huzhou Yuanxiang Town Park and Huzhou Mulberry-dyke and Fish Pond. On our part, we will continue to work with various parties to develop attractive hotel stay packages for business meetings, leisure travel and banquet functions such as weddings to support the revenue from rooms and F&B activities. Another positive development will be the completion of the Shanghai-Hangzhou-Huzhou high-speed rail by 2024 which will make the hotel and city even more accessible. By then, Huzhou will be just 18 minutes from Hangzhou and 30 minutes from Shanghai. The rail is now under construction and the Huzhou-Hangzhou stretch is expected to be ready next year. The Group has also reviewed and revised its previous development plan, named Huzhou Project, for the 320-hectare site in Huzhou in view of China’s fast ageing population. After much deliberation, the central theme of our revised plan, renamed Project Phoenix 凤凰洲项目 , will focus on meeting the overall living and socio-cum- healthcare needs and aspirations of the elderly. As an integrated residential-cum-active ageing township, Project Phoenix will allocate space for supporting healthcare-related, commercial, educational and family Real Estate Division

To-date, we have built an access road on the site and about 64,000m 2 of land has been cleared and ready for development.

Outlook

The COVID-19 pandemic continues to evolve, with new variants reported globally so that fresh outbreaks may be expected from time to time, as seen in the recent emergence of new infections in China’s south-eastern province of Fujian. As such disruptions can occur at any time, we expect the next 12 months to remain challenging for our hotel operations. As for Project Phoenix, the Group’s revised development plan was presented to the relevant local government agencies in April 2021. While we have received positive feedback from the agencies, we will only be able to furnish more details about our development when the Huzhou City National Land and Space 2020-2035 is finalised and published. We are, however, not deterred by these uncertainties. In forging new paths for growth, we have set our course to build our name as a distinctive and reputable developer and investor of much sought after quality assets in the hospitality and retirement village sector, in China and Southeast Asia.

ANNUAL REPORT 2021

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