Modern Land (China) Co., Limited to the issuance of the USD 300,000,000 11.5% green senior notes due 2022. Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcements. On 8 July 2021, in accordance with the terms of the 2024 Notes and the 2022 Notes, the Company made on-market repurchases of (i) the 2024 Notes in the aggregate principal amount of USD 1,000,000, representing approximately 0.36% of the initial principal amount of the 2024 Notes (the ``Repurchased 2024 Notes'') and (ii) the 2022 Notes in the aggregate principal amount of USD 1,000,000, representing approximately 0.33% of the initial principal amount of the 2022 Notes (the ``Repurchased 2022 Notes'', together with the Repurchased 2024 Notes, the ``Repurchased Notes''), which may or may not be cancelled subject to the Board's discretion. If and after the Repurchased Notes are cancelled, the principal amount of the 2024 Notes remaining outstanding would be USD 276,000,000, representing approximately 99.64% of the initial principal amount of the 2024 Notes while the principal amount of the 2022 Notes remaining outstanding would be USD 299,000,000, representing approximately 99.67% of the initial principal amount of the 2022 Notes. Together with its on-market repurchase of the USD 321,000,000 9.8% green senior notes due 2023 in the principal amount of USD 2,000,000 on 30 June 2021, the Company repurchased USD 4,000,000 of its senior notes in aggregate. Further announcement will be made by the Company following the cancellation of any of the repurchased senior notes. The repurchases of the 2024 Notes and the 2022 Notes were conducted based on the market conditions and will improve the Company's debt structure. The Company will continue to monitor the market conditions, its financial structure and may further repurchase its senior notes as and when appropriate.