Country Garden : Newsletter November 2017

Country Garden Holdings Company Limited

碧 桂 园 控 股 有 限 公 司 (2007.HK)

Newsletter November 2017

Country Garden Holdings Company Limited ("Country Garden" or the "Company") together with its subsidiaries, (collectively, the "Group") (stock code: 2007) is one of China's leading integrated property developers. The Group became a constituent stock of MSCI Global Standard Indices on 1 September 2007, Hang Seng Composite Index and Hang Seng Mainland 100 on 10 September 2007, FTSE China 50 Index on 14 September 2016, Hang Seng China (Hong Kong-listed) 25 Index

on 12 June 2017, and Hang Seng Index on 4 December 2017.

Contracted Sales

For the first 10 months of 2017, the Group, together with its joint ventures and associates, achieved contracted sales of approximately RMB484.77 billion with contracted sales GFA of approximately 53.12 million square meters ("sqm") (among which, the contracted sales and contracted sales GFA attributable to owners of the Company amounted to RMB337.99 billion and

38.56 million sqm, respectively).

Geographical breakdown of contracted sales for the first 10 months of 2017 (By Value)

Hebei, 3%

Others*,

Product type breakdown of contracted sales for the first 10 months of 2017 (By Value)

Parking space & commercial, 7%

Low-rise residential, 11%

Guizhou, 3%

Hubei, 3%

18%

Guangdong,

30%

Hainan, 4%

Henan, 4%

Hunan, 4%

Jiangsu, 16%

Zhejiang, 7% Anhui,

8%

High-rise residential, 82%

Note : Others* including Guangxi, Fujian, Liaoning, Shandong, Malaysia, Shanghai, Sichuan, Shaanxi, Gansu, Chongqing, Jiangxi, Yunnan, Tianjin, Shanxi, Inner Mongolia, Qinghai, Jilin, Heilongjiang and Australia.

City type breakdown of onshore contracted sales for the first 10 months of 2017 (By Value)

Domestic tier of cities breakdown of contracted sales for the first 10 months of 2017 (By Value)

Cities with sales started from 2017, 3%

Located in tier 1 cities, targeting tier 1 cities, 7%

Located in tier

Located in tier 2 cities, targeting tier 1 cities, 2%

Located in tier 3&4 cities, targeting tier 1

Cities with sales started by the end of 2016, 97%

3&4 cities, targeting tier 3&4 cities, 50%

Located in tier 2 cities, targeting tier 2 cities, 33%

cities, 4%

Located in tier 3&4 cities, targeting tier 2 cities, 4%

Country Garden Holdings Company Limited

碧 桂 园 控 股 有 限 公 司 (2007.HK)

Newsletter November 2017

Co ntracted Sal es (Cont 'd )

Unit size breakdown of contracted sales of high- rise residential products for the first 10 months of 2017 (By Value)

Unit size breakdown of contracted sales of low- rise residential products for the first 10 months of 2017 (By Value)

Less than 90 sqm,

12%

300-500

sqm, 10%

Over 500

sqm, 10%

Over 140

sqm, 34%

90-140

sqm, 54%

Less than 300 sqm,

80%

Top ten cities where the Group, together with its joint ventures and associates, achieved the highest contracted sales for the first 10 months of 2017 were as follows; the aggregated contracted sales amount in these 10 cities was approximately RMB157.38 billion, accounting for approximately 32.9% of the Group together with its joint ventures and associates' total contracted sales.

Cities (By Location)	Contracted Sales (RMB Billion)	Contracted Sales GFA ('000 Sqm)	Contracted Sales ASP (RMB per Sqm)
Jiangsu-Suzhou	23.56	1,820	12,942
Guangdong-Dongguan	22.62	1,305	17,337
Guangdong-Guangzhou	22.15	1,454	15,237
Guangdong-Huizhou	18.80	1,492	12,603
Guangdong-Foshan	16.89	1,356	12,449
Jiangsu-Nantong	11.87	963	12,329
Hainan-Lingshui	11.26	619	18,198
Henan-Zhengzhou	10.91	1,121	9,732
Guangdong-Jiangmen	9.83	1,203	8,171
Anhui-Chuzhou	9.49	1,408	6,740

Country Garden Holdings Company Limited

碧 桂 园 控 股 有 限 公 司 (2007.HK)

Newsletter November 2017

New Land Acquisitions in China

The Group acquired RMB314.15 billion (including minority interests) new lands with an estimated GFA of 94.69 million sqm for the first 10 months of 2017 in China. The estimated attributable GFA to the owners of the Company in China was approximately 69.96 million sqm, and the total land premium was approximately RMB232.56 billion, the average land price was approximately RMB3,324 per sqm. The breakdown of the estimated attributable GFA or value to the owners of the Company was as follows:

Provinces breakdown of newly acquired lands for the first 10 months of 2017 (By GFA)

Project type breakdown of newly acquired lands for the first 10 months of 2017 (By GFA)

Old Projects, 7%

Guangxi, 4%

Guizhou, 4%

Chongqing, 4%

Hubei, 4%

Others*, 19%

Guangdong, 20%

Jiangsu, 13%

Anhui, 13%

New Projects, 93%

Henan, 6%

Zhejiang, 6%

Hunan ,7%

Note : Others* including Hebei, Shandong, Fujian, Jiangxi, Shaanxi, Beijing, Tianjin, Shanxi, Hainan, Sichuan, Shanghai, Yunnan, Liaoning, Ningxia, Gansu and Jilin.

City type breakdown of newly acquired lands for the first 10 months of 2017 (By Value)

Tier cities breakdown of newly acquired lands for the first 10 months of 2017 (By GFA)

Located in tier 2

Tier cities breakdown of newly acquired lands for the first 10 months of 2017 (By Value)

Located in

Newly entered cities in 2017, 3%

Located in tier 1 cities, targeting tier 1 cities, 5%

Located in tier

cities, targeting

tier 1 cities, 2%

Located in tier 2 cities, targeting tier 2 cities, 25%

Located in tier 3&4 cities, targeting tier 1

cities, 5%

Located in tier 3&4 cities, targeting tier 3&4

Located in tier 1 cities,

targeting tier 1

cities, 17%

tier 2 cities, targeting tier 1 cities, 2%

Cities already entered at

the end of 2016, 97%

3&4 cities,

targeting tier 3&4 cities, 57%

cities, 40%

Located in tier 2 cities, targeting tier 2 cities, 34%

Located in tier 3&4 cities, targeting tier 2 cities, 6%

Located in tier 3&4 cities, targeting tier 2 cities, 3%

Located in tier 3&4 cities, targeting tier 1 cities, 4%

Country Garden Holdings Company Limited

碧 桂 园 控 股 有 限 公 司 (2007.HK)

Newsletter November 2017

Code	Province	Project	City(District)	SiteArea	ExpectedGFA	LandCost	CGEquity
				(sqm)	(sqm)	(RMBMillion)	Ratio**
1	Guangxi	VankePark*	Nanning(Liangqing)	75,940	227,820	759	40%
2	Tianjin	(To Be Confirmed)*	Tianjin(Jixian)	145,607	115,029	328	80%
3	Anhui	Xuancheng Country Garden PhaseII*	Xuancheng(Xuanzhou)	41,549	83,098	144	51%
4	Jiangxi	(To Be Confirmed)*	Nanchang(Nanchang)	51,667	129,167	234	30%
5	Hebei	Country Garden-Guangting Lan*	Zhangjiakou(Huailai)	130,978	239,690	327	70%
6	Hunan	(To Be Confirmed)*	Hengyang(Leiyang)	34,468	51,702	42	55%
7	Anhui	Country Garden-GoldenTime*	Fuyang(Yingzhou)	210,026	420,052	1,894	59%
8	Anhui	Country Garden-Jade Bay South*	Fuyang(Jingkaiqu)	238,136	523,899	936	30%
9	Zhejiang	Lucheng Fengmen Country Garden*	Wenzhou(Lucheng)	27,729	55,459	282	100%
10	Zhejiang	Lucheng Fengmen Country Garden*	Wenzhou(Lucheng)	23,785	47,570	220	100%
11	Anhui	Country Garden-Jade Bay North*	Fuyang(Jingkai)	149,456	373,640	643	22%
12	Guizhou	Country Garden-Coast one*	Qiandongnan(Kaili)	244,379	268,817	403	100%
13	Henan	Country Garden-Moon Coast*	Zhumadian(Xincai)	120,800	302,001	289	100%
14	Henan	Country Garden-Jade City	Zhengzhou(Xingyang)	184,267	294,827	456	51%
15	Guangdong	(To Be Confirmed)	Huizhou(Huidong)	38,679	46,414	45	100%
16	Guangdong	(To Be Confirmed)*	Jiangmen(Xinhui)	55,709	167,127	451	47%
17	Guizhou	Country Garden-Institution One*	Guiyang(Huaxi)	82,309	164,618	121	100%
18	Anhui	Country Garden-Dragon Mansion*	Chuzhou(Langya)	141,880	312,136	952	85%
19	Guangdong	(To Be Confirmed)*	Zhongshan(Sanxiang)	54,634	136,584	820	85%
20	Shanxi	Country Garden-Tianhui*	Taiyuan(Xiaodian)	12,757	51,030	101	30%
21	Anhui	(To Be Confirmed)*	Wuhu(Wuhu)	59,080	129,976	107	51%
22	Anhui	(To Be Confirmed)*	Hefei(Binhu)	67,340	168,350	2,682	100%
23	Guangdong	(To Be Confirmed)*	Qingyuan(Qingcheng)	129,653	318,947	863	100%
24	Guangdong	(To Be Confirmed)*	Qingyuan(Qingcheng)	104,253	272,101	696	100%
25	Hubei	Jingzhou Country Garden*	Jingzhou(Shashi)	72,987	255,454	470	100%
26	Liaoning	(To Be Confirmed)*	Shenyang(Heping)	38,127	141,069	421	100%
27	Zhejiang	(To Be Confirmed)*	Hangzhou(Xiaoshan)	32,427	74,582	522	55%
28	Zhejiang	(To Be Confirmed)*	Hangzhou(Xiaoshan)	48,320	120,800	882	55%
29	Zhejiang	(To Be Confirmed)*	Hangzhou(Xiaoshan)	24,306	63,196	681	54%
30	Zhejiang	(To Be Confirmed)*	Hangzhou(Xiaoshan)	39,617	99,043	1,068	54%
31	Fujian	Country Garden-Gui'an Mansion*	Fuzhou(Lianjiang)	184,407	210,224	470	80%
32	Hebei	(To Be Confirmed)*	Langfang(Bazhou)	33,640	67,280	726	51%
33	Hunan	Country Garden-Ten Mile Coast*	Huaihua(Hecheng)	275,140	605,308	389	100%
34	Hunan	(To Be Confirmed)*	Changsha(Wangcheng)	44,180	66,270	114	100%
35	Hubei	(To Be Confirmed)*	Wuhan(Caidian)	37,002	92,505	71	100%