The Board of Directors of Zhongtian International Limited provided the recent development of the Group's property business on (i) leasing of commercial properties; and (ii) property development. As at the date of this announcement, the Group has entered into 11 lease agreements with 11 separate tenants in respect of its investment properties for lease terms ranging from two years to nine years with an aggregate annual rental of approximately RMB 31.1 million. One of the said 11 tenants is controlled by Mr. Chen Jun, the chairman and a director of the Company, and the tenancy term is 24 months with half-year rent of RMB 525,516. The other 10 tenants are third parties independent of the Company and its connected persons.