(11 Jan 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 Corporate Credit Rating Outlook has been upgraded to “Positive” from “Stable” by Fitch Ratings (“Fitch”), a global leader in credit ratings, with a “B+” long-term corporate credit rating affirmed.

   According to Fitch, the upgrade reflects the increase in Aoyuan’s sales even as it remained disciplined about land acquisition and maintained a consistent financial profile. Aoyuan’s contracted sales in 2015 increased to RMB15.2 billion, which was almost triple the contracted sales of 2012. The upgrade also demonstrates that Aoyuan’s current liquidity position is healthy and strong. Aoyuan has also established diversified funding channels, including onshore and offshore capital markets, which reduced its funding cost.

   Aoyuan management commented, “We are glad that Fitch has upgraded our credit rating outlook. This reaffirmed that Aoyuan’s operational efficiency, financial management and business strategies were well recognized by international capital markets. We value opinions from rating institutions and investors, and strive to enhance our operational management and corporate governance, with a view to achieving fast growth while maintaining sound financial position. Looking into 2016, Aoyuan will step up its efforts to maintain its business growth above industry average, thus delivering satisfactory returns to its shareholders.”

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