Central China Real Estate : VOLUNTARY ANNOUNCEMENT BUSINESS UPDATES — LIGHT-ASSET MODEL PROJECTS

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(Stock Code: 0832)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATES - LIGHT-ASSET MODEL PROJECTS

The board (the ''Board'') of directors (the ''Directors'') of Central China Real Estate Limited (the ''Company'', together with its subsidiaries, the ''Group'') is pleased to

announce that Henan Zhongyuan Central China City Development Limited* (河南中原建業

城市發展有限公司) (''CCRE Zhongyuan''), an indirect wholly-owned subsidiary of the

Company, has entered into management entrustment contracts for developing real estate projects with the following parties respectively:

Date Parties

Project Number

1. 18 April 2017 Henan Duolun Real Estate Development Limited* (河南

   省多倫房地產開發有限公司) (''Henan Duolun'')

2. 18 April 2017 Hebi Shenglong Properties Limited* (鶴壁升龍置業有限

   公司) (''Hebi Shenglong'')

3. 21 April 2017 Henan Derui Properties Limited* (河南省德瑞置業有限

   公司) (''Henan Derui'')

4. 9 May 2017 Xinyang Hongda Properties Limited* (信陽宏達置業有

   限公司) (''Xinyang Hongda'')

5. 9 May 2017 Xinyang Ludi Real Estate Development Limited* (信陽

市綠地房地產開發有限公司) (''Xinyang Ludi'')

41st 42nd 43rd 44th 45th

1. CCRE Zhongyuan (as the trustee) entered into a management entrustment contract for developing real estate project with a planned gross floor area of approximately 251,000 square meters (the ''Neihuang Xian Project Management Entrustment Contract'')

   with Chen Zhifeng (陳志峰), Lin Yiqin (林宜欽) and Chen Aiguo (陳愛國) (as the

   guarantors) as well as Henan Duolun (as the principal) for a period of 72 months. According to the Neihuang Xian Project Management Entrustment Contract, CCRE Zhongyuan was engaged by Henan Duolun for developing, operating and managing the real estate project established on a parcel of land in the east of Jinger Road, the south

   of Fanyangyi Road, the west of Erdi Avenue and the north of Weiyi Road, Neihuang Xian, Anyang City, Henan Province of the People's Republic of China (the ''PRC'') (the ''Neihuang Xian Project''), which CCRE Zhongyuan would charge royalty fee and performance fee in return.

2. CCRE Zhongyuan (as the trustee) entered into a management entrustment contract for developing real estate project with a planned gross floor area of approximately 507,000

   square meters (the ''Hebi Triumph Plaza Project Management Entrustment Contract'') with Zhongfang Zhongjian Real Estate Development Limited* (中房眾建實 業發展有限公司) (''Zhongfang Zhongjian'') and Sun Guoshuai (孫國帥) (as the

   guarantors) as well as Hebi Shenglong (as the principal) for a period of 48 months. According to the Hebi Triumph Plaza Project Management Entrustment Contract, CCRE Zhongyuan was engaged by Hebi Shenglong for developing, operating and managing the real estate project established on a parcel of land in the east of Qishui Avenue, the

   south of Tianshan North Road, the west of Zhongyang Branch Road and the north of Heqi West Road, Hebi City, Henan Province of the PRC (the ''Hebi Triumph Plaza Project''), which CCRE Zhongyuan would charge royalty fee and performance fee in return.

3. CCRE Zhongyuan (as the trustee) entered into a management entrustment contract for developing real estate project with a planned gross floor area of approximately 75,000 square meters (the ''Fugou Xian Project Management Entrustment Contract'') with

   Shi Xiping (史西平), Li Hongyu (李泓豫), Li Jianjun (李建軍), Ma Tiechui (馬鐵錘) and Fang Botao (方波濤) (as the guarantors) as well as Henan Derui (as the principal)

   for a period of 20 months. According to the Fugou Xian Project Management Entrustment Contract, CCRE Zhongyuan was engaged by Henan Derui for developing, operating and managing the real estate project established on a parcel of land in the west of Jiangjun Road and the north of Lishen Avenue, Zhoukou City, Henan Province

   of the PRC (the ''Fugou Xian Project''), which CCRE Zhongyuan would charge royalty fee and performance fee in return.

4. CCRE Zhongyuan (as the trustee) entered into a management entrustment contract for developing real estate project with a planned gross floor area of approximately 138,000 square meters (the ''Xinyang Guihua Road Project Management Entrustment

   Contract'') with Huang Yonghong (黃永紅) and Fang Runlan (方潤嵐) (as the

   guarantors) as well as Xinyang Hongda (as the principal) for a period of 48 months. According to the Xinyang Guihua Road Project Management Entrustment Contract, CCRE Zhongyuan was engaged by Xinyang Hongda for developing, operating and managing the real estate project established on a parcel of land in the east of Guihua Branch Road and the south of Nongzhuan Road, Xinyang City, Henan Province of the

   PRC (the ''Xinyang Guihua Road Project''), which CCRE Zhongyuan would charge royalty fee and performance fee in return.

5. CCRE Zhongyuan (as the trustee) entered into a management entrustment contract for developing real estate project with a planned gross floor area of approximately 300,000

square meters (the ''Xi Xian Project Management Entrustment Contract'') with Mao Zhongyi (毛中一) and Li Zhikun (李志坤) (as the guarantors) as well as Xinyang Ludi

(as the principal) for a period of 60 months. According to the Xi Xian Project Management Entrustment Contract, CCRE Zhongyuan was engaged by Xinyang Ludi for developing, operating and managing the real estate project established on a parcel of

land in the north of Gongqu Road, Xi Xian, Xinyang City, Henan Province of the PRC (the ''Xi Xian Project''), which CCRE Zhongyuan would charge royalty fee and performance fee in return.

The Neihuang Xian Project, the Hebi Triumph Plaza Project, the Fugou Xian Project, the Xinyang Guihua Road Project and the Xi Xian Project are the five projects from 41st to 45th under the light-asset strategy of the Group, which constitute a new growth driver to the development of the Group.

To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, Henan Duolun, Chen Zhifeng (陳志峰), Lin Yiqin (林宜欽), Chen Aiguo (陳愛

國), Hebi Shenglong, Zhongfang Zhongjian, Sun Guoshuai (孫國帥), Henan Derui, Shi Xiping (史西平), Li Hongyu (李泓豫), Li Jianjun (李建軍), Ma Tiechui (馬鐵錘), Fang Botao (方波濤), Xinyang Hongda, Huang Yonghong (黃永紅), Fang Runlan (方潤嵐), Xinyang Ludi, Mao Zhongyi (毛中一), Li Zhikun (李志坤) and their respective ultimate

beneficial owners are independent third parties (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'')) of the Company.

CCRE Zhongyuan is a limited liability company established in the PRC. It is an indirect wholly-owned subsidiary of the Company and is mainly engaged in real estate development and sales and real estate investment in Henan Province, the PRC with considerable experience in development and management of real estate projects.

All of the Neihuang Xian Project Management Entrustment Contract, the Hebi Triumph Plaza Project Management Entrustment Contract, the Fugou Xian Project Management Entrustment Contract, the Xinyang Guihua Road Project Management Entrustment Contract and the Xi Xian Project Management Entrustment Contract do not constitute notifiable transactions under Chapter 14 of the Listing Rules. This announcement is disclosed on a voluntary basis by the Company to provide its shareholders and potential investors with updated information in relation to the business development of the Group.

By order of the Board

Central China Real Estate Limited Wu Po Sum

Chairman

Hong Kong, 11 May 2017

As at the date of this announcement, the Board comprises nine Directors, of which Mr. Wu Po Sum, Mr. Liu Weixing and Ms. Yan Yingchun are executive Directors, Mr. Lucas Ignatius Loh Jen Yuh, Mr. Puah Tze Shyang and Ms. Wu Wallis (alias Li Hua) are non-executive Directors, Mr. Cheung Shek Lun, Mr. Muk Kin Yau and Mr. Xin Luo Lin are independent non-executive Directors.

* For identification purposes only