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)

Hong Kong 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 30 September 2019, the Group has a portfolio(no provision for impairment is considered ) of RMB 2.94 billion fixed income investments in aggregate, securing a total contractually guaranteed annual return before tax on investment of approximately RMB300million, representing an average annualized pre-tax return on investment of about 10.2%. Compared with the voluntary announcement published on 30 June 2019, the Group added Jiangsu Tongtai Intelligent Manufacturing Industrial Park Project (江蘇同泰智能製造產業園區項目) and Chengdu Jintang Huaizhou New City Yunding Ranch Cultural Tourism Project (成都金堂淮州新城雲頂牧場文旅項目) in the third quarter, withdraw from Yangzhou River Banks Project (揚州三河六岸項目), with the principal of RMB 150 million and related investment gains received; partially withdrew from Qinhuangdao Project(秦皇島項目)with the principal of RMB 70 million and related investment gains received.

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

Hong Kong, 9 October 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.