Relationship between Lippo China Resources Co., Ltd. and China Resources Group

The relationship between Lippo China Resources Co., Ltd. and China Resources Group is acquisition. Lippo Huarun completed the acquisition and holding of China Resources Group on 1998, and owned its project to develop Lippo Village by owning 34.9% equity of LPKR listed on Jakarta Stock Exchange. Lippo China Resources Co., Ltd., established in 1973, located in Hong Kong Special Administrative Region, is an enterprise mainly engaged in groceries and department stores. The enterprise has completed the IPO listing on 1973.