China Aoyuan : VOLUNTARY ANNOUNCEMENT REDEMPTION AT MATURITY OF 7.50% SENIOR NOTES DUE MAY 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take 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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3883)

VOLUNTARY ANNOUNCEMENT

REDEMPTION AT MATURITY OF 7.50% SENIOR NOTES

DUE MAY 2021

Reference is made to the announcements of by China Aoyuan Group Limited (the "Company") dated 2 May 2018, 3 May 2018 and 11 June 2018 (the "Announcements") in relation to the Company's 7.50% senior notes due 2021 (the "Notes"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcements.

The Notes were listed on the Singapore Exchange Securities Trading Limited and matured on 10 May 2021 (the "Maturity Date"). The Company has redeemed the Notes in full at their outstanding principal amount of US$425,000,000 together with interest accrued to the Maturity Date, with a total amount of US$440,937,500 paid by the Company at maturity. The Company considers that there will be no material impact on its financial position as a result of the redemption of the Notes at maturity.

By order of the Board

China Aoyuan Group Limited

Guo Zi Wen

Chairman

Hong Kong, 10 May 2021

As at the date of this announcement, the executive directors of the Company are Mr. Guo Zi Wen, Mr. Guo Zi Ning, Mr. Ma Jun, Mr. Chen Zhi Bin, Mr. Chan Ka Yeung Jacky and Mr. Zhang Jun; and the independent non-executive directors of the Company are Mr. Tsui King Fai, Mr. Cheung Kwok Keung and Mr. Lee Thomas Kang Bor.