Promoting Autonomous Flight Technology,Establishing Industry Safety Standards,and Boosting Low-altitude Economic Development

HONG KONG,Dec. 9,2024 -- Kwoon Chung Bus Holdings Limited ("Kwoon Chung" or "the Group") is pleased to announce that its subsidiary focused on innovative smart mobility solutions,KC Smart Mobility,has formed a strategic partnership with EHang,a global leader in urban air mobility technology,and Hong Kong Cyberport. This collaboration aims to promote the research and application of Electric Vertical Takeoff and Landing (eVTOL) vehicles in Hong Kong,foster the development of emerging technologies and industries such as smart mobility and smart logistics,and enhance the establishment of industry safety standards. It seeks to activate low-altitude airspace as a new economic production factor,unlock more significant development potential across various industries,create digital economic benefits for Hong Kong,and enhance citizens' smart living,bringing inclusive value to the public.

Mr Cheng King Hoi,Andrew,MH,Mainland China Business Director at KCBH (Front Left); Mr Darren Xiao,EHANG Director APAC & MENA (Front Central); and Dr Rocky Cheng Chung-ngam,CEO of Hong Kong Cyberport (Front Right) signed the MOU,forming a strategic partnership to foster the development of emerging technologies and industries such as smart mobility and smart logistics and,hence,to boost low-altitude economic development.

The signing ceremony took place today (December 9) at Le Méridien Cyberport. Presented at the ceremony were Mr. Wong Leung Pak,Matthew,BBS,Chairman of Kwoon Chung Bus Holdings Limited; Mr. Cheng King Hoi, MH, Mainland China Business Director at KCBH; Mr. Simon Chan Sai-Ming,JP,Chairman of Hong Kong Cyberport; Dr. Rocky Cheng Chung-ngam, CEO of Hong Kong Cyberport; Mr. Bill Choi,EHANG Vice President and Mr. Darren Xiao,EHANG Director APAC & MENA.The ceremony was also attended by Ms. Elizabeth Quat, SBS,Founding President of the Greater Bay Area Low-altitude Economy Alliance and Legislative Council member,as well as Mr. Chan Siu Hung,Advisor to the Greater Bay Area Low-altitude Economy Alliance and Legislative Council member,who witnessed this significant milestone.

Mr. Wong Leung Pak,Matthew,Chairman of Kwoon Chung Bus Holdings Limited,stated,"Kwoon Chung is committed to providing excellent transportation services. Forming a strategic partnership with EHang and Hong Kong Cyberportmarks a new chapter in our passenger services. By investing in the research and application of eVTOL vehicles in Hong Kong,we aim to promote the long-term development of the low-altitude economy. We will collaborate to establish industry safety standards for low-altitude airspace traffic and prepare for full commercialization,aligning with the national low-altitude economic development strategy and making timely plans and strategic deployments that fit the Hong Kong market,actively promoting innovation and development in Hong Kong's low-altitude economy industry."

KC Smart Mobility leverages the Group's strong capability in public transportation management,actively promoting autonomous driving projects and green transportation systems. EHang specializes in developing autonomous aerial vehicle products and solutions,covering areas such as passenger air transportation,logistics,and smart city management. Earlier,Hong Kong Cyberportwas appointed by the HKSAR Government as the venue partner for the low-altitude economy "regulatory sandbox" pilot project. The Hong Kong Cyberportcampus has IT and communication facilities,charging facilities,and medium-sized drone landing stations. It provides various terrains and development density areas as rich simulation application scenarios to support different low-altitude flight tests. This collaboration will integrate the strengths of the three parties,actively advancing projects in smart mobility and competent logistics and contributing to the development of Hong Kong's low-altitude economy industry.

The Group had earlier signed a procurement and operation cooperation agreement with EHang to promote the deployment and operation of the EH216-S autonomous aerial vehicle in Hong Kong,Macau,Xiangyang,and Shiyan in Hubei Province. Under this agreement,KC Smart Mobility plans to procure 30 EH216-S units from EHang.