Suncity and Summit Ascent Won Multiple Awards at the 7th HKIRA Awards 2021 Ceremony

HONG KONG,Sept. 16,2021 -- Suncity Group Holdings Limited ("Suncity",Hong Kong Stock Exchange code: 1383,or the "Group") together with its subsidiary,Summit AscentHoldings Limited ("Summit Ascent",Hong Kong Stock Exchange code: 102),are pleased to announce that Suncity and Summit Ascent have won multiple HKIRA Investor Relations Awards at the 7th HKIRA Awards 2021 Ceremony. In addition,Summit Ascent has been named with the esteemed title "Best IR Company" in the Small-Cap category. The prestigious awards were voted online by domestic and international buy-side and sell-side investment professionals,recognising the Group's efforts by the investment community.

Mr. Andrew Lo Kai Bong,Executive Director of Suncity and Deputy Chairman of Summit Ascent,accepted the awards on behalf of the Group at the Hong Kong Investor Relations Association 7th IR Awards 2021 Ceremony

Trophies both Suncity & Summit Ascent garnered in the 2021 7th HKIRA Awards Ceremony - Suncity: 1) Best Investor Meeting; 2) Best Investor Presentation Materials; Summit Ascent: 3) Best IR Company; 4) Best ESG (Environmental)

Suncity received the following accolades:

Best Investor Meeting – Small Cap

Best Investor Presentation Material – Small Cap

At the same time,Summit Ascentreceived the following accolades:

Best IR Company – Small Cap

Best ESG (Environmental) – Small Cap

The HKIRA Investor Relations Awards,organised by Hong Kong Investor Relations Association (HKIRA) since 2015. Each year the Awards seeks out and highlights the incredible achievements of individuals and companies with high standards in investor relations through their role modelling to the investment community. A total of 167 companies participated in the Awards this year. The award winners were first nominated by the public and then selected by over 890 eligible voters from buy-side and sell-side investors via online polling.

Mr. Andrew Lo,Executive Directorof Suncity and Deputy Chairman of Summit Ascent,expressed his delight,"Years ago,Suncity has already been developing integrated resorts in Russia,the Philippines and Vietnam using our North,South and East of Asia strategy. It is incredible to be receiving so much support from the investment community to have them vote for Suncity and Summit Ascent. Borders will definitely reopen,it's just a matter of when. When this does happen,this will be the time when Suncity comes to light. The fact that both Listcos are being recognised is a testimony of our goal dedicating to deliver value to shareholders."

About Suncity Group Holdings Limited (HKEx stock code: 1383)

Suncity Group Holdings Limited ("Suncity" or "the Group") develops and operates integrated resorts across Asia,including the Russia Federation,the Philippines,Vietnam and Japan,etc. The Group also operates in the travel segment and the mall operation segment.

Suncity is the parent company of Summit Ascent Holdings Limited ("Summit Ascent",HKEx: 102). Summit Ascent is the operator of the largest integrated resort,in the Russian Federation,known as Tigre de Cristal,based in Vladivostok in the Far East. Suncity is also the parent company of Suntrust Home Developers,Inc. (company name will be changed to Suntrust Resort Holdings,Inc.) ("SunTrust",PSE: SUN,soon to be renamed as Suntrust Resorts Holdings,Inc.),who is developing Westside City Project in the heart of Entertainment City in Manila,the Philippines. Hoiana is an integrated resort that Suncity jointly develops with our investment partners. Located in Central Vietnam,Hoiana Phase 1 is an integrated resort with over 1,000 rooms,award-winning golf course and pristine beaches.

The Group also plans to develop skiing and diving resorts in Okinawa and Hokkaido,in Japan. In addition,the Group operates a travel agency,and shopping malls in China.

For more information about Suncity,please visit https://www.suncitygroup.com.hk/

About Summit Ascent Holdings Limited (HKEx stock code: 102)

Summit Ascent Holdings Limited ("Summit Ascent") is a subsidiary of Suncity Group Holdings Limited ("Suncity",HKEx: 1383). Summit Ascent holds 77.5% in Tigre de Cristal,currently the largest integrated resort located in the Primorye Integrated Entertainment Zone of the Russian Far East. Situated midway from the Vladivostok International Airport to Vladivostok city,the administrative centre of the Russian Far East,Tigre de Cristal is ideally located geographically in the heart of Northeast Asia.

Summit Ascent holds a gaming license granted by the Russian government for an indefinite period,and Tigre de Cristal has opened for business since late 2015,offering a broad range of gaming options on a 24/7 basis. Tigre de Cristal has been certified as a five-star hotel with retail offerings,food and beverage outlets,private club,and named "Russia's Leading Resort" by World Travel Awards.

Summit Ascent is a member of the MSCI Hong Kong Micro Cap Index. For more information about Summit Ascent,please visit https://www.saholdings.com.hk/eng/