Yuzhou Properties : Announcements and Notices - Grant of Waiver under Rule 14.41(a) of the Listing Rules and Delay in Despatch of Circular

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: 01628) GRANT OF WAIVER UNDER RULE 14.41(A) OF THE LISTING RULES AND DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of Yuzhou Properties Company Limited (the "Company") dated 19 December 2016 in relation to the proposed acquisition by Shanghai Fengzhou (an indirectly wholly-owned subsidiary of the Company) of 100% interests in the Targets in accordance with the terms of the Cooperation Agreement (the "Announcement"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcement.

As the Acquisition is approved by way of written shareholders' approval, as disclosed in the Announcement, pursuant to Rule 14.41(a) of the Listing Rules, a circular of the Company (the "Circular") containing, among other things: (i) details of the Cooperation Agreement and the transactions contemplated thereby; (ii) financial information of the Group; (iii) financial information of the Targets; and (iv) valuation report on the property interest held by the Targets, must be despatched within 15 business days after publication of the Announcement and the Company would apply for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules from the Stock Exchange such that the despatch date of the Circular can be postponed to a date more than 15 business days after publication of the Announcement, which was expected to be on or before 28 February 2017.

However, after discussion with Ernst & Young, the reporting accountants of the Company (the "Reporting Accountants"), additional time is required to prepare and finalise the statement of indebtedness of the Group and the accountants' report for the three years ended 31 December 2016 of the Targets. Therefore, as discussed and agreed with the Reporting Accountants, the expected despatch date of the Circular would need to be postponed to 31 March 2017. The Company has applied for a waiver from strict compliance with Rule 14.41(a) of the Listing Rules to extend the deadline for the despatch of the Circular to the Shareholders to 31 March 2017 (the "Waiver").

The Board is pleased to announce that the Stock Exchange has granted the Waiver on 12 January 2017. The Stock Exchange may withdraw or change the Waiver if the Company's situation changes.

By order of the Board

Yuzhou Properties Company Limited Lam Lung On

Chairman

Hong Kong, 12 January 2017

As at the date of this announcement, the executive directors of the Company are Mr. Lam Lung On (Chairman), Ms. Kwok Ying Lan, Mr. Lin Longzhi and Mr. Lin Conghui, and independent non- executive directors of the Company are Mr. Lam Kwong Siu, Mr. Wee Henny Soon Chiang and Dr. Zhai Pu.