HONG KONG SAR - Media OutReach - 10 August 2023 - Chinachem Group ("the Group") and GMC Grand-Bay Intelligent Manufacturing and Technology Co., Ltd. ("GBIMT") signed a Memorandum of Understanding (MoU) for a strategic partnership for development and use of the Modular Integrated Construction (MiC) system.

The MoU will create mutual benefits for the two partners as they can complement each other in gaining competitive edge through joint technological innovation, materials procurement and supply, information exchange, technical consultation and more. The collaboration will further enhance Hong Kong's construction efficiency and quality, as well as the efforts to achieve carbon neutrality by 2050.

Donald Choi, Executive Director and Chief Executive Officer of Chinachem Group, said, "Underlined by the Group's core value of creating a balance of 'People, Prosperity and Planet', we are committed to setting high green building standards, reducing carbon emissions, promoting sustainability and creating positive value for the environment and society while building quality and comfortable homes to meet residential needs. Adoption of the new MiC system not only enhances construction efficiency and ensures building quality, but also streamlines the on-site construction process. This helps reduce waste and noise generated during the construction, as well as lowering carbon emissions to bring a positive impact to the community and the environment."

Choi added that the Group and GBIMT would create synergies through the joint innovation, development and adoption of new proptech applications. GBIMT, a subsidiary of Guangzhou Municipal Construction Group Co., Ltd. (GMCG) which is among the Fortune Global 500, is a market leader in prefabricated buildings in the Greater Bay Area (GBA) and Guangdong Province. It has multiple accreditations in ISO9001, ISO14001, ISO45001 and other management systems, as well as QSPSC:2014 certification by the Hong Kong Quality Assurance Agency.

Liang Huqing, Chairman of GMCG Guangzhou Municipal Construction Group Co., Ltd. said, "To echo the policy of the Central Government in promoting the development of the GBA, GMCG has collaborated with many Hong Kong construction enterprises in technology research and development, engineering construction, market development, brand promotion, training and information exchange, with the aim of achieving mutual benefits and complementing each other to strive for excellence in a win-win situation. In this close collaboration with Chinachem Group, GBIMT is providing MiC products and services for the Tonkin Street project, the first high-rise residential project using a concrete MiC system in Hong Kong, and has made innovative accomplishments in the adoption of DFMA, MiC, BIM, digital construction and other technologies. Building on this foundation, the two companies have now signed the MoU of strategic partnership. I firmly believe this will be a long-term and solid collaboration with great prospects."

Chinachem Group is the first private developer in Hong Kong to apply the concrete MiC System in a private residential project. The Tonkin Street project in the heart of West Kowloon, in collaboration with the Urban Renewal Authority, is also the first MiC project of the Group. The technology will soon be adopted for another of the Group's property development projects at Tung Chung Traction Substation, which is of a much larger scale and will further promote sustainability.
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About Chinachem Group

Since 1960, Chinachem Group has been a leading property developer in Hong Kong, with a portfolio covering residential, commercial, retail and industrial buildings for sales and investment, in addition to operating hotels, property management as well as healthcare and elderly services. The Group actively seeks to make a positive contribution to society through its adherence to the 'Triple Bottom Line', a commitment that its activities will benefit People, bring Prosperity to the community and preserve the Planet. Please visit www.chinachemgroup.com/en.