(30 December 2016 - Hong Kong) China Aoyuan Property Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883), a renowned property developer in China, is pleased to announce that the Company’s long-term corporate credit rating has been upgraded to “BB-” from “B+” by Fitch Ratings (“Fitch”), a global leader in credit ratings, with a stable outlook.

According to Fitch, Aoyuan’s contracted sales have continued to increase robustly since Fitch upgraded its rating outlook to Positive earlier this year. Supported by its execution of fast-churning strategy and stable operating efficiency, Aoyuan achieved a y-o-y increase of approximately 70% in contracted sales totaling approximately RMB22.2 billion in the first eleven months of 2016 after the Company’s contracted sales tripled to RMB15.2 billion in 2015 from 2012. Fitch also expects contracted sales to continue to increase in 2017. In addition, Aoyuan has kept steady land acquisitions and maintained a healthy financial profile despite rapid expansion, which set Aoyuan apart from its fast-growing peers.

Aoyuan management commented, “We are pleased that Fitch has further upgraded our long-term corporate credit rating to ‘BB-‘, following the upgrading of Aoyuan’s credit rating outlook to ‘Positive’ by the three major international rating agencies, namely Moody’s, S&P and Fitch this year, which has reaffirmed the wide recognition and confidence by capital markets and the public in Aoyuan’s business model, operational efficiency and financial strategy. Looking forward to 2017, Aoyuan will maintain its growth at a rate above industry average and continuously strengthen its financial position to achieve sustainable development, thus delivering excellent returns to its shareholders and investors.”