Central China Real Estate : CCRE China strategically invests RMB360 million For the Establishment of the Joint Venture which engages in Insurance Businesses

[For Immediate Release] CCRE China strategically invests RMB360 million For the Establishment of the Joint Venture which engages in Insurance Businesses

(28 Dec 2016 - Hong Kong) -- Central China Real Estate Limited ("CCRE" or the "Company", together with its subsidiaries, the "Group"; SEHK stock code: 832), one of the leading Henan-based property developers, announces that on 26 December 2016, the group strategically entered into the investment agreement through an indirect wholly-owned subsidiary of the Company, CCRE China, with other promoters in relation to the establishment of the Joint Venture (JV). The amount of capital contribution of CCRE China will be RMB360 million. The number of shares subscribed will be 360 million shares, accounting for 12% of the total share capital of the JV.

Pursuant to the Investment Agreement, the Joint Venture will be engaged in insurance, reinsurance, fund application businesses and other businesses as approved by the insurance regulatory authorities, subject to the final approval by the insurance regulatory authorities and registration at the company registry. Other promoters of the JV include Central China Securities, Zhengzhou Yutong, Henan Shuanghui, Chengdu Baicheng, Henan Senyuan, Henan Jiyuan, Henan Investment, The Beautiful Year Investment and Tianjin Fengqi. Meanwhile, CCRE China, Central China Securities, Zhengzhou Yutong, Henan Shuanghui and Chengdu Baicheng will contribute RMB360 million respectively, and shares subscribed will be 360 million respectively, that each promoter will hold 12% shareholding at the establishment of the JV. CCRE China will become one of the largest shareholders of the JV.

The Group's strategic investment in the establishment of the JV can effectively grant the Group access to the quality financial resources in Henan Province and in-depth cooperation with them, and expand the customer services provided by the Group, providing impetus to the Group's growth and strategic implementation. The Board of Directors consider that the terms of the Investment are on normal commercial terms, are fair and reasonable, and are in the interest of the Company and the shareholders of the Company as a whole.

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About CCRE

Central China Real Estate Limited is one of the leading Henan-based property developers which focus on developing high-quality residential properties. Known for its outstanding product quality, strong brand and experienced management team, the company ranked 28th among the "Top 500 Chinese Property Developers in 2016", according to "2016 Research Report on Top 500 Chinese Property Developers" jointly published by China Real Estate Association and China Real Estate Appraisal. CCRE also topped the list of "Top 10 Chinese Property Developers in Regional Operations" for the sixth year in a row and repeatedly ranked among the top five Hong Kong-listed mainland Chinese property companies in terms of performance. It is also the only central China-based property developer to rank among the country's top 30 real estate firms and remains the top real estate developer in Henan province.

For further information, please contact: Central China Real Estate Ltd iPR Ogilvy & Mather

Mr. Vinh Mai Ms. Tina Law

Head of Investor Relations and Chief Investment Officer Tel: [phone] Email:[e-mail] Email: [e-mail]

Disclaimer

In view of the presence of various uncertainties during the property sales process, the property sales data disclosed above are based on preliminary internal management records of the Group and are unaudited. The above data may differ from the data to be disclosed in the regular reports of the Company. Such data are provided for investors' reference only, and do not constitute, nor should they be construed as, an offer or solicitation to sell or buy any securities or financial products of the Company. They should not be used as a basis for research reports, and are not intended to, nor should they constitute any investment advice. Shareholders of the Company and potential investors are advised to exercise caution, and should not place undue reliance on the data disclosed herein.