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• Green Infrastructure Development: Focuses on designing, building, and managing environmentally sustainable urban and regional infrastructure projects.
• ESG Investment Management: Offers financial services specializing in investment funds that prioritize environmental, social, and governance criteria.
• Sustainable Resource Consulting: Provides expert advisory services to businesses aiming to optimize their resource usage and implement sustainable practices.
• Carbon Offset Solutions: Develops and trades verifiable carbon credits and provides related services to help companies achieve carbon neutrality.

Aureus Greenway (symbol: AGH) appears to be a fictional company. As such, there are no real-world financial reports, investor filings, or publicly available business operations to identify its major customers.

In the context of real public companies, this information would typically be found in their annual reports (10-K filings) under sections like "Business," "Risk Factors," or "Management's Discussion and Analysis of Financial Condition and Results of Operations," where significant customer concentrations are often disclosed if they represent a material portion of revenue.

Chi Ping Cheung, Chief Executive Officer and Executive Director

Mr. Cheung is responsible for the overall operation and management of Aureus Greenway's business and the formulation of its business plans and growth strategies. He has been managing the business since 2014. Prior to joining Aureus Greenway, Mr. Cheung served as Chief Operating Officer, Americas, for the Loan Exposure Management Group at Deutsche Bank from May 1999 to April 2014. He also worked at Bear Stearns & Co in the Financial Analytics and Structure Transaction Group from August 1994 to May 1999. Earlier in his career, he was involved in commodities transportation logistics modeling at Soros Associates from March 1993 to August 1994. Mr. Cheung holds a bachelor's degree in science from the University of California, Berkeley, and an executive MBA from the University of Connecticut, Stamford.

Wai Sing Sam Lui, Chief Financial Officer and Principal Accounting Officer

Mr. Lui is responsible for financial reporting, managing accounting operations, statutory financial audit reporting, coordinating corporate tax submissions, preparing budget and financial forecasts, and developing and implementing financial policies and procedures for Aureus Greenway. He has served as Chief Financial Officer since November 2023. Mr. Lui has approximately seven years of professional experience in auditing. From January 2015 to January 2017, he worked as a senior auditor at Deloitte Touche Tohmatsu. Before that, he was an assistant manager at BDO Limited from June 2011 to January 2015, where he was involved in placing and acquisitions projects and audits for various listed companies. He also worked as an audit assistant at Philp Poon & Partners CPA Limited from June 2009 to February 2011. Mr. Lui obtained his bachelor's degree in business administration from Lingnan University in Hong Kong and is a member of the Hong Kong Institute of Certified Public Accountants.

Ching Ping Stephen Cheung, Executive Chairman of the Board

Mr. S. Cheung is responsible for the daily operation and management of Aureus Greenway. He attained a bachelor's degree in business administration from Boston University in December 1996. Prior to joining Aureus Greenway as an executive director in 2024, Mr. Cheung worked as an associate director at UOB Kay Hian (Hong Kong) Ltd. since May 2000, providing brokerage and financial counseling services. From March 1997 to May 2000, he was a dealer representative in the institution sales department of Bank of China International Securities Ltd.

Xinyue Jasmine Geffner, Independent Director

Ms. Geffner serves as the chairman of the audit committee and a member of the compensation and nominating and corporate governance committees for Aureus Greenway. She is currently the Chief Financial Officer of Dorsett Hospitality International Services Limited, a role she has held since February 2019. Ms. Geffner previously served as Chief Financial Officer of GreenTree Hospitality Group Limited (NYSE: GHG) from 2017 to 2018, and as Chief Financial Officer of Carnival Group International Holdings Limited (HKSE: 0996.HK) from 2014 to 2016. Her background also includes serving as a director of corporate and institutional banking at ANZ Hong Kong from 2008 to 2011 and as head of China business development and vice president of the consumer and retail group at HSBC in New York from 2005 to 2008. Ms. Geffner holds a Bachelor of Business Administration from City University of New York and an MBA from New York University. She is a certified public accountant in Washington State and Hong Kong, and a chartered financial analyst.

Vuk Jeremić, Independent Director

Mr. Jeremić is the President of the Center for International Relations and Sustainable Development (CIRSD) and Editor-in-Chief of “Horizons - Journal of International Relations and Sustainable Development.” Since 2013, he has operated Vuk Jeremić ent Consulting Agency Belgrade. He served as a director of Onconetix, Inc. (Nasdaq: ONCO) from November 2022 to September 2023 and on the board of managers of Atomic 47 LLC from August 2019 to December 2021. In June 2012, Mr. Jeremić was elected President of the 67th session of the UN General Assembly. He also served as Serbia's Minister of Foreign Affairs from 2007 to 2012. Mr. Jeremić holds a bachelor's degree in theoretical physics from Cambridge University and a master's degree in public administration in international development from Harvard University.

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Aureus Greenway (symbol: AGH) operates public golf country clubs in Florida, offering golf recreation, retail golf products, equipment and facilities rental, membership, food and beverage services, and ancillary amenities. The addressable markets for their main products and services are as follows:

• Golf Courses & Country Clubs: The market size for the Golf Courses & Country Clubs industry in Florida is projected to be $4.5 billion in 2025.

• Golf Equipment: The U.S. golf equipment market was valued at $2.3 billion in 2024. This market is forecasted to grow, reaching an estimated $2.7 billion by 2035.

• Golf Course and Country Club Membership Services: Globally, the revenue generated from golf course and country club membership services is estimated at $93.9 billion in 2025.

Aureus Greenway (AGH) operates golf country clubs in Florida, generating revenue from golf recreation, retail golf products and equipment, facilities rental, membership dues, and food and beverage services. Based on the company's stated business strategy and operational focus, the following are expected drivers of future revenue growth over the next 2-3 years:

1. Customer Growth and Retention: Aureus Greenway's strategy emphasizes attracting and retaining customers. This focus is expected to drive revenue by increasing the number of rounds played, boosting membership subscriptions, and encouraging higher spending across its golf recreation, retail, and food and beverage offerings.
2. Facility Enhancements: The company's commitment to enhancing its facilities, which include golf courses, clubhouses, aquatic golf ranges, and pro shops, is a key driver. These improvements can lead to increased demand for golf services, justify potential price adjustments for green fees and memberships, and stimulate sales of merchandise, food, and beverages, thereby increasing overall revenue.
3. Expansion Through Acquisitions: Aureus Greenway has indicated a strategy of expanding through acquisitions. The successful acquisition of additional golf country clubs would directly contribute to revenue growth by expanding the company's operational footprint and adding new income streams from golf recreation, retail, food and beverage, and memberships in new markets or locations.
4. Increased Utilization and Spending in Existing Offerings: By attracting and retaining more customers and enhancing its facilities, the company anticipates increased utilization of its current services. This means more frequent visits and higher spending per customer across its established revenue segments, including golf recreation, retail sales of golf products, and food and beverage services.

Share Issuance

• Aureus Greenway Holdings announced a $26 million private placement of securities in July 2025, which included the issuance of 41,935,483 units of common stock (or pre-funded warrants) and common warrants.
• The company completed its Initial Public Offering (IPO) on February 12, 2025, on NASDAQ Capital.
• Between fiscal year 2021 and fiscal year 2022, the number of basic shares outstanding for Aureus Greenway Holdings increased from 4 million to 11 million.

Inbound Investments

• In July 2025, Aureus Greenway Holdings secured a $26 million private placement from accredited and institutional investors. The proceeds from this investment are designated for working capital and general corporate purposes.

Capital Expenditures

• Aureus Greenway Holdings has undertaken recent capital improvements at both of its golf country clubs in Florida.
• These capital expenditures are focused on enhancing the facilities and golf courses to progressively grow in stature and reputation, and to meet future infrastructure needs.