Logan Group Achieves RMB16.01 Billion of Contract Sales in January, Recording Significant Growth of 162.8% y-o-y

(China / Hong Kong, February 5, 2021) Logan Group (3380.HK) has announced its sales performance for January. The Company’s contract sales attributable to the shareholders were approximately RMB16.01 billion in January 2021, a significant increase of 162.8% year-on year (“y-o-y”). The growth in sales is a strong start to the year for Logan Group.

At the beginning of the new year, Logan Group continued to uplift its management and operation levels with its strong product, abundant saleable resources and efficient execution capabilities. The operation efficiency in multiple cities with high potential growth and high-value projects was further accelerated, achieving a high-quality fast turnover, continuously improving capital efficiency and enhancing its risk resistance ability. It also further strengthened the Company’s operating competitiveness against the backdrop of the current “three red lines” regulations.

The Company grasped the opportunity in the land market and continued to expand its presence in core cities, acquiring various high-quality plots of land in Shanghai, Nanjing, Suzhou, Ningbo, Wenzhou and other cities. Logan Group also increased the number of projects in the core metropolitan area of the Yangtze River Delta to 20. The rapid development showcases the Company’s competitive advantage in its city-focused penetration strategy.

The Company will introduce innovative sales and marketing initiatives for the upcoming Lunar New Year, and sales performance is expected to continue to remain strong.