Haichang Holdings Ltd: Management to Further Increase their Shareholdings in the Company Through Extension of Management Share Purchase Scheme

HONG KONG, Jan. 13, 2015 /PRNewswire/ -- Haichang Holdings Ltd. (Stock Code: 2255) (the "Company", together with its subsidiaries, the "Group"), a leading developer and operator of theme parks and ancillary commercial properties in China, is pleased to announce that, in order to further reward the existing management and core employees, Mr. Qu Naijie, a director and a controlling shareholder of the Company, has decided to extend the Share Purchase Scheme announced.

It was announced on 19 November 2014 that the Group adopted the Share Purchase Scheme whereby the Eligible Participants may purchase a total of not more than 172,000,000 Shares at a price of HK$1.20 per Share, representing approximately 4.3% of the total issued share capital of the Company. Mr. Qu now has decided to extend the Share Purchase Scheme by allocating an additional amount of not more than 83,084,476 Shares (the "Additional Scheme Shares"), representing approximately 2.08% of the total issued share capital of the Company, to the Eligible Participants at a price of HK$1.36 per Additional Scheme Share. Any Additional Scheme Shares purchased shall not be sold during the first year following such purchase but may be sold in tranches during the second and third year.

Mr. Qu Naijie, Chairman and Non-executive Director of Haichang Holdings Ltd. said, "The management and core employees are fully confident about the future development of the Company. We expect to share the future value and growth of the Group with our management and core employees through the Share Purchase Scheme extension, and also further align their personal interests with those of the Company and its shareholders, to facilitate the Group's future success and sustainable development. Meanwhile, the Board reserves the possibility to further encourage the management to increase their shareholdings in the Company in the future."

About Haichang Holdings Ltd.

Listed on the Main Board of The Stock Exchange of Hong Kong in March 2014, Haichang Holdings Ltd. is a leading developer and operator of theme parks and ancillary commercial properties in China. The Company's theme parks provide a one-stop leisure, dining and shopping experience to its customers through both the in-park offerings and complementary services offered by the ancillary commercial properties adjacent to the theme parks. The Company currently operates eight theme parks located in Dalian, Qingdao, Tianjin, Yantai, Wuhan, Chengdu and Chongqing respectively.