General Announcement::PARTIAL REPURCHASE OF SENIOR NOTES

(Stock Code: 0832)

VOLUNTARY ANNOUNCEMENT

PARTIAL REPURCHASE OF SENIOR NOTES

This is a voluntary announcement made by Central China Real Estate Limited (the "Company", together with its subsidiaries, the "Group").

Reference is made to the announcements of the Company dated 1 November 2019 and

12 November 2019 in relation to the 7.9% senior notes due November 2023 (ISIN: XS2076398184) (the "November 2023 Notes"), the announcements of the Company dated 6 August 2020 and 14 August 2020 in relation to the 7.25% senior notes due August 2024 (the "August 2024 Notes") (ISIN: XS2215180550), the announcements of the Company dated 18 November 2020 and 30 November 2020 in relation to the 7.75% senior notes due May 2024 (the "May 2024 Notes") (ISIN: XS2262030369), as well as the announcements of the Company dated 9 September 2021, 12 September 2021 and 20 September 2021 (collectively, the "Announcements"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcements.

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Between 1 September 2021 and 30 September 2021, the Company has in the open market purchased (i) part of the November 2023 Notes in an aggregate principal amount of US$2,700,000, representing approximately 1.35% of the initial aggregate principal amount of the November 2023 Notes; (ii) part of the May 2024 Notes in an aggregate principal amount of US$2,451,000, representing approximately 0.82% of the initial aggregate principal amount of the May 2024 Notes; and (iii) part of the August 2024 Notes in an aggregate principal amount of US$8,770,000, representing approximately 2.92% of the initial aggregate principal amount of the August 2024 Notes. As at the date of this announcement, the outstanding principal amount of the November 2023 Notes, the May 2024 Notes and the August 2024 Notes is US$200,000,000, US$300,000,000 and US$300,000,000, respectively. The Board expects to cancel the senior notes which have been repurchased, which will thereafter cease to be outstanding.

The Board considers that the repurchases of the senior notes will reduce the Company's future financial expenses and lower its financial gearing level, and are therefore in the interests of the Company and its shareholders as a whole. The Company will continue to monitor the market conditions and its financial structure and may further repurchase its senior notes as and when appropriate.

Noteholders and potential investors should note that any purchase of the senior notes from time to time by the Company will be at the Board's sole and absolute discretion. There is no assurance of the timing, amount or price of any purchase of the senior notes or whether the Company will make any further purchase at all. Noteholders and potential investors should therefore exercise caution when dealing in any senior notes of the Company.

By order of the Board

Central China Real Estate Limited

Wu Po Sum

Chairman

Hong Kong, 6 October 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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