A Look Back on 2023 and Forward to 2024

With the end of 2023 upon us, it is a good time to take a moment to reflect on the remarkable journey we've undertaken over the past 12 months and appreciate what we've built and overcome. Looking ahead, we can say we're more committed than ever as a diversified property and investment group to generating great value today and leaving a positive legacy for tomorrow.

This past year was characterized by unprecedented external factors impacting our business, such as inflation, supply chain disruptions, fluctuating interest rates, and complex geopolitical issues, all impacting economies worldwide. Since JINDING's establishment in 2016 in Australia, we have navigated through different market cycles with our incredibly strong and dedicated team, proving our resilience time and again.

Developments Division:

This year, the keyword for our Developments Division has been 'delivery'. We're proud to have helped 250 residents settle on their new block of land, contributing close to $90 million in gross revenue. In March, we unveiled Broadstead, Kilmore – a community featuring 500 lots, 11 hectares of landscaped waterways, and a central community park. We're dedicated to creating thriving communities, exemplified by our community grant program in Kilmore and the establishment of a neighbourhood library at our Harriott, Armstrong Creek community. This year, we were proud finalists in renowned industry awards for the Property Council of Australia , The Urban Developer , and Urban Development Institute of Australia (UDIA) Victoria , a testament to the hard work and innovative approach we are developing for each community.

Real Estate Division:

Despite market uncertainties, 2023 has proven to be another standout year for our Real Estate Division. We've successfully sold close to 600 properties, totalling approximately $470 million. Our collaboration with prominent developers and agents resulted in 120 events and webinars, earning us seven prestigious awards for excellence in project sales and marketing. Through our joint venture partnership with VICPROP , our property management portfolio has surpassed 2000 rental properties, with an impressive 400 new rentals added in the last calendar year alone – the most significant growth achieved to date.

Funds Management Division:

Our Funds Management Division has seen notable success, launching 53 products to date, redeeming 39 without defaults, and realising a 100 per cent return on capital and distributions. Currently, we operate 14 products, with total funds under management exceeding $120 million.

In September, we launched our first office in Singapore under the Ladon Capital brand. Ladon Capital (Singapore) is poised to evolve into JINDING's hub for wealth management and family office consultant services, enhancing our ability to serve high-net-worth clients from Asia and beyond.

Community Engagement and Partnerships:

In 2023, our commitment extended beyond business. We proudly supported the Urban Development Institute of Australia (UDIA) Victoria Mentor Program and stood alongside South East Melbourne Phoenix as a major sponsor for the third consecutive year. To further education for international students studying in Australia, we've launched a partnership with leading education provider AEAS , to provide high-quality assessment services.

In closing, we recognise that our collective strength is the driving force behind the unparalleled opportunities we provide to our members, customers, and stakeholders. We extend our deepest gratitude to each JINDING member for their invaluable contributions to our journey.

As we reflect on the past year, we not only celebrate our industry leadership but the resilience, innovation, and collaboration that define us. Stepping into the new year, we remain committed to driving success for our developers, partners, and clients, forging a future of shared achievements. To all our stakeholders, thank you for your continued support. We eagerly anticipate another year of collaboration and success, working together to create a brighter future.

With gratitude,

Jay Song CEO & Executive Director

December 2023