China Jinmao : COMPLETION OF SUBSCRIPTION OF NEW SHARES UNDER SPECIFIC MANDATE

Hong Kong Exchanges and Clearing Limited and the Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Neither this announcement nor any copy thereof may be released into or distributed directly or indirectly in the United States or any other jurisdiction where such release or distribution might be unlawful.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "US Securities Act"), and may not be offered or sold in the United States unless registered under the US Securities Act or pursuant to an exemption from, or in a transaction not subject to, registration under the US Securities Act. The Company has no intention to register under the US Securities Act any of the securities referred to herein or to conduct a public offering of securities in the United States.

China Jinmao Holdings Group Limited

中 國 金 茂 控 股 集 團 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00817)

COMPLETION OF SUBSCRIPTION OF NEW SHARES UNDER

SPECIFIC MANDATE

Reference is made to the announcement of the Company dated 6 July 2020 and the circular of the Company dated 7 August 2020 (the "Circular") in relation to, among other things, the subscription of new shares of the Company under the Specific Mandate. Unless defined otherwise, capitalized terms used herein shall have the same meanings as those defined in the Circular.

COMPLETION OF SUBSCRIPTION OF NEW SHARES UNDER SPECIFIC MANDATE

The Board is pleased to announce that the completion of the Subscription took place on 31 August 2020. An aggregate of 349,450,000 Subscription Shares have been allotted and issued to Sinochem Hong Kong at the Subscription Price of HK$5.70 per Subscription Share pursuant to the terms and conditions of the Subscription Agreement.

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EFFECTS ON SHAREHOLDING STRUCTURE

The 349,450,000 Subscription Shares represent (i) approximately 2.82% of the issued share capital of the Company immediately before the completion of the Subscription; and (ii) approximately 2.74% of the issued share capital of the Company as enlarged by the Subscription.

	Immediately before the		Immediately after the
Name of shareholders	completion of Subscription		completion of Subscription
	Number of	Approximate		Number of	Approximate
	Shares	%		Shares	%
Sinochem Hong Kong	4,126,738,025		33.32%	4,476,188,025	35.15%
Ping An Life Insurance
Company of China, Ltd.	1,787,077,435		14.43%	1,787,077,435	14.03%
UBS Group AG (through
a number of its subsidiaries)	1,264,706,794		10.21%	1,264,706,794	9.93%
Public Shareholders	5,206,480,236		42.04%	5,206,480,236	40.89%
Total:	12,385,002,490		100%	12,734,452,490	100%

UPDATE ON THE USE OF PROCEEDS

The net proceeds from the Subscription amounted to approximately HK$1,992 million. As disclosed in the Circular, the Company intended to use approximately 40% to 60% of the net proceeds of the Subscription for debt repayment, and approximately 40% to 60% for general working capital. Taking into account the business development requirements of the Company, in particular the land bidding opportunities that may emerge from time to time, the Company intends to reallocate the net proceeds of the Subscription as follows: no more than 30% will be used for land acquisition, and no less than 70% will be used for general working capital.

The Company will provide further updates on the use of proceeds of the Subscription in its future annual and interim reports in accordance with the requirements of the Listing Rules.

By order of the Board

China Jinmao Holdings Group Limited

NING Gaoning

Chairman

Hong Kong, 31 August 2020

As at the date of this announcement, the directors of the Company are Mr. NING Gaoning (Chairman), Mr. YANG Lin, Mr. AN Hongjun, Mr. CHENG Yong and Mr. WANG Wei as non-executive directors; Mr. LI Congrui, Mr. JIANG Nan and Mr. SONG Liuyi as executive directors; Mr. SU Xijia, Mr. GAO Shibin and Mr. ZHONG Wei as independent non-executive directors.

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