Asset Acquisitions And Disposals :: Change In Interest In Companies In Suzhou, The People's Republic Of China

YANLORD LAND GROUP LIMITED

(Incorporated with limited liability in the Republic of Singapore)

(Registration Number: 200601911K)

CHANGE IN INTEREST IN COMPANIES IN SUZHOU, THE PEOPLE'S REPUBLIC OF CHINA

Yanlord Land Group Limited (the "Company" and together with its subsidiaries, the "Group") wishes to announce that its wholly-owned subsidiary, Suzhou Peninsula Yanlord Real Estate Co., Ltd. 1 , has disposed of its 100% interest ("Disposal Interest") in Suzhou Rendao Enterprise Management Co., Ltd. 2 , which in turn owns 20% interest in Suzhou Rentong Property Development Co., Ltd.3 ("Suzhou Rentong"), to a company which is not a related party as defined in the relevant accounting standards and not an interested person as defined in the Listing Manual of the Singapore Exchange Securities Trading Limited for a total cash consideration of RMB9.25 million ("Consideration") ("Disposal"). The Consideration was arrived at on a willing buyer, willing seller basis after taking into account the net tangible asset value represented by the Disposal Interest set out in the Valuation Report (as defined below) and an accrued interest income receivable, which has been fully paid. Together with another 40% interest held by Nanjing Renyuan Investment Co., Ltd.4 ("Nanjing Renyuan"), a wholly-owned subsidiary, the Company held a total effective interest of 60% in Suzhou Rentong prior to the Disposal. Following the Disposal, the Company's effective interest in Suzhou Rentong has reduced from 60% to 40%, held through Nanjing Renyuan.

The net tangible asset value represented by the Disposal Interest based on the independent valuation report issued by Suzhou Huaxing Asset Appraisal Co., Ltd. 5 dated 20 March 2019 ("Valuation Report") was approximately RMB7.15 million.

The Disposal is not expected to have any material impact on the net tangible assets per share or earnings per share of the Group for the financial year ending 31 December 2019.

None of the directors nor controlling shareholder of the Company has any interest, direct or indirect, in the Disposal save for their respective interests, through their shareholdings and/or directorships, as the case may be, in the Group.

Yanlord Land Group Limited

Zhong Sheng Jian

Chairman and Chief Executive Officer

14 June 2019

1. An unofficial English translation name of 苏州星岛仁恒置业有限公司.
2. An unofficial English translation name of 苏州市仁岛企业管理有限公司.
3. An unofficial English translation name of 苏州市仁通房地产开发有限公司.
4. An unofficial English translation name of 南京仁远投资有限公司.
5. An unofficial English translation name of 苏州华兴资产评估有限公司.