Aoyuan will get the land use rights over four pieces of land with a combined area of approximately 232,864 sq.m. in Xintang Town, Zengcheng, Guangzhou through the acquisition. Application has been submitted by Kang Wei to the relevant authorities in the PRC for the redevelopment of the project and change of land use, so that commercial service facilities such as commercial, hotels, offices, entertainment and exhibition centres can be built on the lands. The lands enjoy a geographical advantage with huge market potential. The Group will persist on the development strategy of "rapid development and rapid sale" to strive for considerable returns for shareholders.

Mr. Guo Ziwen, Chairman of Aoyuan, said, "Subsequent to the acquisition of a piece of quality commercial lands in Hanxi, Panyu, Guangzhou, the acquisition of the project in Xin Tang Town, Zengcheng, Guangzhou will strengthen the Group"s land bank portfolio in Guangdong, further solidifying the Group"s core development strategy in Guangdong Province. The acquisition is also in-line with the Group"s product strategy of ‘developing commercial and residential properties in parallel" and the development strategy of ‘rapid development and rapid sale", so as to facilitate the Group entering to a rapid expansion era."