HONG KONG SAR and SHANGHAI, CHINA - Media OutReach^[1] - 6 July 2021 - Hang Lung Properties^[2] has received the honor of being named among "China Best Managed Companies 2021", as the only property developer among the 13 new winners. The recognition highlights the Company's commitment to excellence in management by upholding its philosophy of We Do It Well.

Derek Pang (middle), Senior Director – Mainland Business Operation and Office, received the award on behalf of Hang Lung Properties at the gala dinner

Through a meticulous process of evaluation following the global framework of Best Managed criteria – Strategy, Capabilities, Commitment, and Financial Strength – the Independent Review Committee selected 42 companies for entry to the China 2021 Best Managed Companies list. Among these distinguished companies, 13 are making their debut on the list in 2021, including Hang Lung Properties, which is the only property developer among the new winners.

Weber Lo, Chief Executive Officer of Hang Lung Properties, said, "We are honored to have been selected as one of the 'Best Managed Companies' in China. This highly esteemed recognition pays tribute to Hang Lung's high-quality management system and innovative operational strategies. As a leading national commercial property developer, Hang Lung Properties has built, owned, and managed a diverse portfolio of outstanding world-class commercial complexes in major cities across the Mainland. We are committed to our service of philosophy 'customer centricity' and our corporate culture of 'care about people' to create value for customers, staff and stakeholders alike."

Derek Pang, Senior Director – Mainland Business Operation and Office, received the award on behalf of Hang Lung Properties at the gala dinner and said, "We are grateful to the Independent Review Committee for recognizing the cornerstones of excellence in Hang Lung Properties' management performance. Sustainable growth in this ever-changing environment is indeed a challenge, and our talent system is key to our success in dealing with all types of change. Hang Lung Properties has always believed that only by growing together with our employees will the company achieve sustainable growth."

Founded in Canada in 1993, the Deloitte Best Managed Companies (BMC) Program is a global initiative to recognize and witness private companies that have advanced management concept and management excellence. As the first program of its kind in China, it was initiated in the country in August 2018 by Deloitte China and its partners, Bank of Singapore, HKUST Business School, Harvard Business Review China, and regional chambers of commerce and professional associations. 2021 marks the Program's third year of awards in China.

References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} Hang Lung Properties (www.hanglung.com)