Ng Teng Fong Charitable Foundation and Sino Group Support Hong Kong's Innovation and Technology Development

Donation ofHK$200 millionto Encourage Local AI Research and Applications

HONG KONG,March 11, 2025/PRNewswire/ -- The Ng Teng Fong Charitable Foundation (NTFCF) and Sino Group are dedicated to nurturing talent and cultivating a vibrant innovation and technology ecosystem inHong Kong. To further this aim and encourage innovative technological applications, as well as to attract and retain more talent, NTFCF and Sino Group have announced a donation ofHK$200 millionto support the Hong Kong Generative AI Research and Development Center (HKGAI) under InnoHK Research Clusters initiative (InnoHK). This funding will facilitate the further development of locally created artificial intelligence (AI) tools for industry and public use to enhance daily life. The broader application and development of AI technology will nurture'new quality productive forces'in the long run, reinforcingHong Kong'sposition as a leading international hub for innovation and technology.

InnoHK, spearheaded by the Innovation and Technology Commission, is the flagship innovation and technology initiative of the Hong Kong SAR Government to promote global research collaboration and cultivate talents inHong Kong. Established in 2023 and with theHong Kong University of Science and Technology(HKUST) as the lead institution, HKGAI is the only centre under InnoHK specialising in generative AI technology, and recently launchedHong Kong'sfirst AI large language model, HKGAI V1, which is also the first in the industry to be based on the DeepSeek full-parameter fine-tuning research model.

The donation ceremony was attended by notable guests, including MrPaul Chan, GBM, GBS, MH, JP, FinaLIncial Secretary of the Hong Kong Special Administrative Region; ProfessorSun Dong, JP, Secretary for Innovation, Technology and Industry; MsLillian Cheong, JP, Under Secretary for Innovation, Technology and Industry; MrIvan Lee, JP, Commissioner for Innovation and Technology; ProfessorGuo Yike, Provost of theHong Kong University of Science and Technologyand Director of the InnoHK Hong Kong Generative AI Research and Development Center; MrDaryl Ng, SBS, JP, Director of the Ng Teng Fong Charitable Foundation and Deputy Chairman of Sino Group; MsNikki Ng, Director of the Ng Teng Fong Charitable Foundation and Director of Philanthropy of Sino Group; MrDavid Ng, Director of the Ng Teng Fong Charitable Foundation and Group Associate Director of Sino Group, among others. They joined to express support and hope for the continued development of AI technology inHong Kong.

MrPaul Chan, GBM, GBS, MH, JP, Financial Secretary of the Hong Kong Special Administrative Region expressed his heartfelt gratitude to the Ng Teng Fong Charitable Foundation and Sino Group for their support. He said that currently, AI is undergoing rapid development, which is redefining the core competitiveness of economies and reshaping the medium- to long-term landscape of the global economy.During the third session of the 14th National People's Congress and the third session of the 14th Chinese People's Political Consultative Conference National Committee last week, PremierLi Qiangmentioned the need to continue advancing the'AI+'initiative in the Government Work Report, emphasising support for the extensive application of large-scale AI models, as well as the integration of digital technologies with our country's manufacturing and market strengths. By fostering closer collaboration among the Government and the industry, academia, research and investment sectors, accelerating the development of AI as a core industry ofHong Kong, the city can be developed into an international exchange and co-operation hub for the AI industry.

ProfessorHarry Shum, BBS, Chairman of the Council of theHong Kong University of Science and Technology, said,'We are immensely grateful to NTFCF and Sino Group for their generous donation to HKGAI. This support will undoubtedly accelerate the development of artificial intelligence inHong Kongat a faster pace. As the home of HKGAI, we are proud of its achievements and firmly believe that, with the support of the Hong Kong SAR Government and society, HKGAI will continue to contribute positively to the advancement of AI.'

ProfessorNancy Ip, SBS, BBS, MH, JP, President of theHong Kong University of Science and Technology, added,'Artificial intelligence is a key focus for our university. We are proud of HKGAI's milestones and sincerely thank NTFCF and Sino Group for their support. We hope HKGAI can meet the high expectations of the community and continue to achieve breakthroughs. HKUST is committed to providing comprehensive support to advance HKGAI in the field of AI.'

ProfessorGuo Yike, Provost of theHong Kong University of Science and Technologyand Director of the InnoHK Hong Kong Generative AI Research and Development Center, stated,'This generous donation will provide tremendous momentum to our research and development efforts. While expressing our profound gratitude, we are deeply aware of the expectations fromHong Kongsociety and the responsibilities that lie on our shoulders. Having recently launched our new model HKGAI V1, we are currently fully engaged in developing and optimising this model as well as a series of applications. In particular, we are developing the"HKChat", a locally developed AI chatbot service to be used byHong Kongcitizens. This donation has provided crucial support for this endeavour. We will strive to ensure our work meets and exceeds the expectations.'

MrDaryl Ng, SBS, JP, Director of the Ng Teng Fong Charitable Foundation and Deputy Chairman of Sino Group, remarked,'The Central Government and the Hong Kong SAR Government are committed to promoting innovation and technology while proactively enhancing strategies for AI advancement. Through collaborative efforts across sectors, the acceleration of"new quality productive forces"that leverageHong Kong'scompetitive edge can be achieved. We are pleased to foster the holistic development of the I&T ecosystem, nurturing talent and promoting the exchange and application of technology, and supporting the government's goal of attracting and encouraging more international talent toHong Kong. It is an honour to contribute to this significant milestone for AI development inHong Kong, facilitating that locally developed AI platforms are accessible to both industry and the public. We are thankful for the opportunity to support the development of a more inclusive AI future that will benefit the lives of the people ofHong Kong.'

Sino Group has long promoted a diverse innovation and technology ecosystem, cultivating an innovative spirit from an early age and fostering a culture of innovation and technology. In 2014, the'Go Code'programme was launched to provide free coding courses and robotics classes to over 6,000 underprivileged primary school students over five years. The annual Hong Kong Science Fair, inaugurated in 2021, has provided a platform for young inventors, and has received over 1,500 projects from primary and secondary school students and attracted nearly 70,000 attendees to date.

In addition, the Sino Inno Lab was established in 2018, to serve as a collaborative sandbox for start-ups, inventors, and technology companies fromHong Kong, Mainland China and overseas. This platform showcases proof-of-concept developments and fosters the co-creation of innovative solutions. Last year, Sino Inno Lab relocated to a strategic site in the Northern Metropolis, alongside the establishment of The Spark, which provides an open exchange platform and shared workspace for I&T talents. This initiative enhances collaboration between start-ups and technology companies, solidifyingHong Kong'srole as a vital link between theGuangdong-Hong Kong-Macao Greater Bay Area, Mainland China and the global market, and thereby opening broader development opportunities for the local innovation and technology sector.

About Sino Group

Established in 1971, Sino Group comprises three listed companies – Sino Land Company Limited (HKSE: 083), Tsim Sha Tsui Properties Limited (HKSE: 0247), Sino Hotels (Holdings) Limited (HKSE: 1221) – and private companies held by the Ng Family.

As one ofHong Kong'sleading property developers with core businesses in property development and investment, Sino Group has grown with the communities it serves. The Group's business interests comprise a diversified portfolio of residential, office, industrial, retail and hospitality properties acrossHong Kong, mainlandChina,SingaporeandAustralia, and has developed over 250 projects, spanning more than 130 million square feet. Core business assets are further complemented by property management services, hotel investment and management, including The Fullerton Hotels& Resorts and other affiliate brands.

With over 11,000 committed staff members, the Group strives to fulfil its vision of Creating Better Lifescapes with a focus on three interconnected pillars – Green Living, Community Spirit and Innovative Design – shaping the cities we call home where people live, work and play. Sustainability is central to what we do as we seek to create value for stakeholders and make business a driver of sustainability for a better future.

www.sino.com

About Ng Teng Fong Charitable Foundation

The Ng Teng Fong Charitable Foundation was established in 2010 in memory of the late founder of the Sino Group, MrNg Teng Fong. The Foundation steadfastly advocates education, youth development and community services. In the past years, the Ng Teng Fong Charitable Foundation has supported over 300 local NGOs and community partners. In addition to supporting good causes such as the Hong Kong Arts Festival, the National Gallery ofSingaporeas well as restoration of the Great Wall and Yanxi Gong, the Foundation provides financial assistance for students from less-resourced families inHong Kongand mainlandChinathrough the Ng Teng Fong Scholarships. It also supports scholastic initiatives of Peking University, Tsinghua University andZhejiangUniversity in mainlandChinaas well as theNational University of Singapore,Singapore Universityof Technology and Design andNanyang Technological UniversityinSingapore.

www.ntfcf.org.hk

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