China New Town Development : VOLUNTARY ANNOUNCEMENT Update on Urbanization Fixed Income Investment Portfolio

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China New Town Development Company Limited

中國新城鎮發展有限公司

(Incorporated as a business company limited by shares under the laws of the British Virgin Islands)

Stock Code: 1278

VOLUNTARY ANNOUNCEMENT

Update on Urbanization Fixed Income Investment Portfolio

The Board of Directors (the "Board") of China New Town Development Company Limited (the "Company", collectively with its subsidiaries, the "Group") is pleased to announce that, as at 31 March 2019, the Group has a portfolio(no provision for impairment is considered ) of RMB3.02billion fixed income investments in aggregate, securing a total contractually guaranteed annual return before tax on investment of approximately RMB310million, representing an average annualized pre-tax return on investment of about 10.4%. Compared with the voluntary announcement published on 31 December 2018, the Group did not add investment projects in the first quarter, partially withdrew from Yangzhou Airport New Town project (揚州空港新城項目) and receiving the principal of 187.5 million and related investment gains.

In the future, the Company shall continue to quarterly update shareholders of the developments in the urbanization fixed-income investment business in the form of voluntary announcements.

By Order of the Board

China New Town Development Company Limited

Liu Heqiang

Chief Executive Officer and Executive Director

Hong Kong, 1 April 2019

As at the date of this announcement, the executive directors of the Company are Mr. Liu Heqiang (Chief Executive Officer), Ms. Yang Meiyu, Mr. Ren Xiaowei and Mr. Shi Janson Bing; the non-executive directors of the Company are Mr. Zuo Kun (Chairman), Mr. Li Yao Min (Vice Chairman) , Mr. Wei Dongzheng and Mr. Wang Jiangang; and the independent non-executive directors of the Company are Mr. Henry Tan Song Kok, Mr. Kong Siu Chee, Mr. Zhang Hao and Mr. E Hock Yap.