NAM TAI PROPERTY Business Summary

Nam Tai Property Inc. (NTPIF) operates as a specialized real estate developer and industrial ecosystem operator, primarily generating revenue through the sale of residential and commercial units, long-term leasing of technology parks, and the provision of property management services. The company’s business is concentrated in the Guangdong-Hong Kong-Macao Greater Bay Area, with primary segments including industrial complex projects such as Nam Tai Inno Park and Nam Tai Technology Center, alongside residential developments like Nam Tai · Longxi. Its revenue model has recently pivoted toward de-risking through strategic master leases with state-owned enterprises to ensure stable occupancy and government-subsidized rental income. In the competitive landscape, Nam Tai contends with larger regional developers such as Kerry Properties, Yuexiu Property, and SOHO China, as well as niche industrial players like FRP Holdings; it distinguishes itself as a localized, high-density industrial park specialist focused on the Shenzhen technology corridor. Originally founded in 1975 by M.K. Koo as an electronics manufacturer before transitioning to real estate in 2014, the company is currently led by a management team with deep institutional investment and diplomatic pedigrees. Chief Executive Officer Bo Hu, appointed in late 2024, brings extensive real estate private equity experience from Edge Principal Advisors and Merrill Lynch, while President Chunhua Yu offers a background in the Chinese Ministry of Foreign Affairs and regional investment. The Board is chaired by Michael Cricenti, Managing Member of Magis Capital Partners, and includes veteran investor Peter R. Kellogg, whose firm IAT Reinsurance remains a significant stakeholder. Other notable institutional backers include Oasis Management, which has been instrumental in the company’s recent governance restructuring and strategic shift away from previous affiliations with the Kaisa Group.