Central China Real Estate : PROPOSED SPIN-OFF AND SEPARATE LISTING OF CENTRAL CHINA MANAGEMENT COMPANY LIMITED ON THE MAIN BOARD OF THE STOCK EXCHANGE OF HONG KONG LIMITED POST HEARING INFORMATION PACK

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer, its management, as well as financial statements. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities.

(Stock Code: 0832)

PROPOSED SPIN-OFF AND SEPARATE LISTING

OF CENTRAL CHINA MANAGEMENT COMPANY LIMITED

ON THE MAIN BOARD OF THE STOCK EXCHANGE

OF HONG KONG LIMITED

POST HEARING INFORMATION PACK

Sole Financial Advisor to the Company and CCMGT

The Board is pleased to announce that it was informed by CCMGT that in connection with the Proposed Spin-off and the Global Offering, CCMGT has submitted the PHIP to the Stock Exchange for publication on the Stock Exchange's website (www.hkexnews.hk). It is expected that the PHIP will be available for viewing and downloading from the Stock Exchange's website (www.hkexnews.hk) from 4 May 2021.

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Shareholders and potential investors of the Company should note that the Proposed Spin-off is subject to, among other things, the approval by the Listing Committee, the final decisions of the respective boards of directors of the Company and CCMGT, market conditions and other considerations. Accordingly, Shareholders and potential investors of the Company should be aware that there is no assurance that the Proposed Spin-off will take place or as to when it may take place. Shareholders and potential investors of the Company should therefore exercise caution when dealing in the shares of the Company. Any person who is in doubt about his/her/its position or any action to be taken is recommended to consult his/her/its own professional adviser(s).

INTRODUCTION

Reference is made to the announcements of the Company dated 10 November 2020, 7 April 2021, 30 April 2021 and 3 May 2021 in relation to the proposed spin-off of CCMGT and separate listing of the CCMGT Shares on the Main Board of the Stock Exchange. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in such announcements.

POST HEARING INFORMATION PACK

The Board is pleased to announce that it was informed by CCMGT that in connection with the Proposed Spin-off and the Global Offering, CCMGT has submitted the post hearing information pack (the ''PHIP'') to the Stock Exchange for publication on the Stock Exchange's website (www.hkexnews.hk). It is expected that the PHIP will be available for viewing and downloading from the Stock Exchange's website (www.hkexnews.hk) from 4 May 2021.

The PHIP contains, among other things, certain business and financial information relating to CCMGT and its subsidiaries. Shareholders should note that the PHIP is in draft form and the information contained in the PHIP is incomplete and is subject to change which can be material. Shareholders are advised to refer to the Stock Exchange's website (www.hkexnews.hk) from time to time for the updated PHIP (if any). The Company does not have any obligation or liability whatsoever in relation to the PHIP and any updated PHIP.

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GENERAL

Details in respect of the Proposed Spin-off, including the size, structure of the Global Offering, the expected timetable and the terms of the assured entitlement under the Distribution and the Preferential Offering, have not yet been finalised. Further announcement(s) will be made by the Company in relation to the Proposed Spin-off as and when appropriate.

Shareholders and potential investors of the Company should note that the Proposed Spin-off is subject to, among other things, the approval by the Listing Committee, the final decisions of the respective boards of directors of the Company and CCMGT, market conditions and other considerations. Accordingly, Shareholders and potential investors of the Company should be aware that there is no assurance that the Proposed Spin-off will take place or as to when it may take place. Shareholders and potential investors of the Company should therefore exercise caution when dealing in the shares of the Company. Any person who is in doubt about his/her/its position or any action to be taken is recommended to consult his/her/its own professional adviser(s).

By Order of the Board

Central China Real Estate Limited

Wu Po Sum

Chairman

Hong Kong, 4 May 2021

As at the date of this announcement, the Board comprises nine Directors, of which Mr. Wu Po Sum, Mr. Wang Jun and Mr. Yuan Xujun are executive Directors, Mr. Lim Ming Yan, Ms. Wu Wallis (alias Li Hua) and Ms. Chen Ying are non-executive Directors, Mr. Cheung Shek Lun, Mr. Xin Luo Lin and Dr. Sun Yuyang are independent non-executive Directors.

• For identification purposes only

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