Central China Real Estate : CCRE Achieved Record High Contracted Sales of RMB20.1 bn in 12M16, up 28% yoy, Overachieved the annual contracted sales target of RMB18 bn

[For Immediate Release] CCRE Achieved Record High Contracted Sales of RMB20.1 bn in 12M16, up 28% yoy, Overachieved the annual contracted sales target of RMB18 bn

(11 January 2017 - 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 for the twelve months ended 31 December 2016, the Group achieved total property contracted sales of RMB20.1 billion, representing a y-o-y increase of 28.0% and overachieved the annual contracted sales target of RMB18 billion. Achieved a total contracted sales gross floor area ("GFA") of 2,764,294 sq.m., representing a y-o-y increase of 1.2%. The average selling price ("ASP") for the twelve months ended 31 December 2016 amounted to RMB7,288 /sq.m., representing a y-o-y increase of 26.4% due to product mix change.

In the month of December 2016, the Group achieved property contracted sales of RMB1,935 million, representing a m-o-m increase of 6.5%, and a y-o-y decrease of 39.7%. With a contracted sales GFA of 348,740 sq.m., representing a m-o-m increase of 17.3% and a y-o-y decrease of 15.9%. The ASP for December amounted to RMB5,549, representing a m-o-m decrease of 9.2% and a y-o-y decrease of 28.3% due to increase in proportion of sales from county level and tier 3 and 4 cities in December.

- End -

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.