70 Years of Excellence: Driving our Community into a Sustainable Future 卓越七十載：引領社區邁向可持續未來

B U I L D I N G C O N N E C T I O N S W I T H O U R C U S T O M E R S 創 新 優 勢 盡 領 商 機 Building a Foundation and Moving Forward Together In 2024, Zung Fu Group celebrates its 70 th anniversary in the automotive dealership business. Since becoming a Mercedes-Benz’s dealer in 1954, Zung Fu has walked hand in hand with Hong Kong citizens, offering luxurious and comfortable driving experiences. The company was originally established in Shanghai in 1938, focusing on various trading businesses. In the early 1950s, Zung Fu relocated to Hong Kong and diversified into various industries before centering on the automotive business in the 1970s. In early Hong Kong, with a population of just over 2 million, cars were a luxury that few could afford. Due to colonial ties, German cars initially lacked a competitive edge. However, Zung Fu’s predecessors faced challenges head-on, pioneering door-to-door car sales. Thanks to the dedication of these early colleagues, Zung Fu sold 40 new luxury Mercedes-Benz cars in its first year. In 1955, the first Mercedes-Benz showroom opened in Tower Court on Hysan Avenue, Causeway Bay (now 18 Hysan Avenue). Mercedes-Benz car sales quickly rose to 200 units, reaching 1,000 units the following year (1956). To support this rapid growth, Zung Fu opened service centres in the Far East Mansion in Tsim Sha Tsui and Kwai Chung in 1957 and 1959 respectively. In 1956, Zung Fu introduced Hong Kong’s first Mercedes- Benz 180D diesel taxi. This model quickly gained popularity in the industry due to its lower emissions compared to British counterparts and its fuel efficiency, securing an important position in the taxi market that year. The success of any product is closely tied to effective promotion. In 1966, Hong Kong’s first large-scale car exhibition was held at City Hall in Central, with Zung Fu actively participating to raise brand awareness. In terms of promotional strategy, beyond the mainstream print advertisements of the time, the company boldly pioneered new territory by investing heavily in television advertising. Zung Fu even became one of the main advertising sponsors of Pearl, the English-language television channel that was launched in 1967. In 1969, Zung Fu organised the first large-scale car exhibition at Ocean Terminal in Tsim Sha Tsui, which had been completed just over three years earlier. The enthusiastic response set a precedent for holding car exhibitions in shopping centres, demonstrating Zung Fu’s keen market insight. 10