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Nam Tai Property Closes on its First Commercial Bank Financing After Obtaining Full Control

SHENZHEN, China--(BUSINESS WIRE)-- Nam Tai Property Inc. (OTC Expert Market: NTPIF) (鈥淣am Tai Property鈥� or the 鈥淐ompany鈥�) today announced that the Company closed a mortgage loan (the 鈥淟oan鈥�) with Shenzhen Rural Commercial Bank (鈥淪RCB鈥�). The Loan totals RMB 110.0 million and matures in eight years. The blended all-in rate is approximately 4.4% per year (based on the Loan Prime Rate published by the Central Bank of the People鈥檚 Republic of China). The Loan is collateralized with the Company鈥檚 Inno Valley property, a 22-year-old, un-redeveloped industrial factory park located in Bao鈥檃n District, Shenzhen.

Bo Hu, Chief Executive Officer and board member, commented:

鈥淭oday鈥檚 announcement is a significant milestone for the Company after obtaining full control of the Company鈥檚 on-shore assets. Most notably, the Loan is made possible after the Company successfully upgraded its credit rating back to the highest status in China鈥檚 five-tier banking credit system. In addition, the underlying collateral, Inno Valley, has a 鈥榞reen property ownership certificate,鈥� the financing of which is usually more challenging and requires a high degree of confidence from the banking system. This transaction, with its competitively favorable cost of debt, reflects that the Company has now regained access to commercial banking financing in China. The board and leadership team will continue to focus on optimizing the Company鈥檚 capital stack and rebuilding strong relationships with various lenders.鈥�

Michael Cricenti, non-executive Chairman, added:

鈥淏o and our excellent team in China have been working with great urgency and speed to seize Nam Tai鈥檚 many opportunities, including this financing with SRCB. Their focus on fostering strong relationships with local communities and partners, like SRCB, will be key to building lasting momentum. We look forward to providing new updates on other strategic initiatives in the coming weeks and months. Now that the reconstituted leadership team has full control of Nam Tai鈥檚 on-shore assets, we are able to focus on maintaining strong communication with all shareholders and stakeholders.鈥�

Forward Looking Statements

The Company may from time to time make written or oral 鈥渇orward-looking statements鈥�, including statements contained in this release and in the Company鈥檚 filings with the U.S. Securities and Exchange Commission. These forward-looking statements include statements with respect to the Company鈥檚 beliefs, plans, objectives, goals, expectations, anticipations, estimates, and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company鈥檚 control. These factors include competition, timing, judicial and regulatory challenges and/or delays, construction and development challenges and/or delays, changes in general economic conditions and other factors detailed from time to time in the Company鈥檚 filings with the SEC. The words 鈥渕ay鈥�, 鈥渃ould鈥�, 鈥渟hould鈥�, 鈥渨ould鈥�, 鈥渂elieve鈥�, 鈥渁nticipate鈥�, 鈥渆stimate鈥�, 鈥渆xpect鈥�, 鈥渋ntend鈥�, 鈥減lan鈥�, and similar expressions are intended to identify forward-looking statements. All such statements are made in good faith by the Company pursuant to the 鈥渟afe harbor鈥� provisions of the Private Securities Litigation Reform Act of 1995. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company, except as may be required by applicable law or regulations.

About Nam Tai Property

Nam Tai Property Inc., a Company incorporated in the British Virgin Islands (the 鈥淏VI鈥�) and governed by BVI law, owns certain subsidiaries, which own and operate commercial real estate projects across the People鈥檚 Republic of China. Those subsidiaries currently maintain two industrial complex projects, with one in Guangming, Shenzhen and one in Bao鈥檃n, Shenzhen. Learn more about the Company, and the portfolio of properties held by certain of its subsidiaries by emailing our investor relations team or visiting Weibo: .

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Longacre Square Partners

Greg Marose / Ashley Areopagita

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Source: Nam Tai Property Inc.