HISTORY

The Group(formerly known as Doxen Energy Group Limited 東星能源集團有限公司)was listed on the Hong Kong Stock Exchange Limited in 1990.

In October 2009, Mr Lo Siu Yu, through his wholly owned private company, acquired 64.98% equity interest in the Group and became the substantial shareholder and Chairman of the Group.

The new Board of Directors, led by Mr Lo, believed the catering business is facing great difficulties under the current economic environment within Hong Kong. The potential for expansion is restrained by the constantly rising rental expenses and staff costs, so material growth in this industry may not be possible. Thus, the new Board, on the one hand, decided to rely on the original management to run and improve the existing catering business, and on the other hand, proactively seek other potential development and investment opportunities.

In a major strategic initiative, the Group has completed the acquisition of 70% equity interest of Chongqing Baoxu Commercial Property Management Limited (“Chongqing Baoxu”) in August 2012. Chongqing Baoxu is principally engaged in the investment holding of the Dong Dong Mall shopping complex in Chongqing and the progress marked by the acquisition has amply demonstrated its efforts and capabilities in developing the new property investment business.

To better reflect the direction and business field that the Group has entered and enhance its positioning, it has changed the English and Chinese names of the Company from " Doxen Energy Group Limited 東星能源集團有限公司" to "Dowell Property Holdings Limited 東原地產控股有限公司" effective November 2012.