Eqs Newswire: Hong Kong Ferry (Holdings) Co. Ltd.: Hong Kong Ferry Group Collaborates With Tung Wah Group Of Hospitals To Launch Youth Hostel Project To Generate Stable Rental Income

EQS Newswire / 05/06/2025 / 21:20 UTC+8

(5 June 2025, Hong Kong) - Hong Kong Ferry (Holdings) Company Limited (the "Company", which together with its subsidiaries, is referred to as the "Group"; SEHK stock code: 0050) is pleased to announce that the Group's redevelopment project "The Symphonie", located at 280 Tung Chau Street, Cheung Sha Wan, has been approved by the Urban Renewal Authority for conversion to short-term youth hostel use for five years. As disclosed in the Group's Annual Report, the youth hostel, named as "TN Residence", will be operated by Tung Wah Group of Hospitals, which is the sixth project approved by the Home and Youth Affairs Bureau under Subsidy Scheme for Using Hostels and Guesthouses as Youth Hostels. It is expected that the Group will receive rental income at market level from the end of this month.

Mr. Gabriel Lee, General Manager of Hong Kong Ferry, stated: "The "Tung Wah • Nam Cheong Hub" project fully reflects the power of collaboration among the government, business, and the community. The group will continue to work with stakeholders who share our vision and will steadfastly adhere to the sustainable development goal of the Group's 'people-first' principles. We aim to seize opportunities to promote health in the Greater Bay Area while being flexible in adapting and dedicated to giving back to society, all while creating value for our shareholders."

About Hong Kong Ferry (Holdings) Company Limited
Established in 1923, Hong Kong Ferry (Holdings) Company Limited is engaged in property development and investment, ferry business, medical, aesthetic, specialist healthcare services and pain management, and is committed to providing the most professional, safe, and effective services.

For further information, please contact:
Karen Chui / Josephine Wu
Tel: [phone]
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Email: [e-mail]

05/06/2025 Dissemination of a Financial Press Release, transmitted by EQS News.
The issuer is solely responsible for the content of this announcement.

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