HONG KONG, CHINA -
Media OutReach
- 3 July 2020 - CIFI
Holdings (Group) Co. Ltd. ("CIFI" or the "Group", HKEx
stock code: 884) is pleased to announce that in June 2020, the Group achieved
the contracted sales of RMB25.13 billion, representing a YoY increase of
approximately 12% (compared to June 2019). Contracted GFA amounted to
approximately 1,555,600 sq.m.. Contracted ASP was approximately RMB16,200/sq.m.
in June 2020.

For the
first half of 2020, the Group achieved contracted sales of RMB80.73 billion.
Contracted GFA amounted to approximately 4,895,900 sq.m.. Contracted ASP was
approximately RMB16,500/sq.m. from January to June 2020.

For the
first half of 2020, the Group's contracted sales distribution are as follow:

Land Acquisition

In June
2020, the Group completed the following land acquisitions:

Diversified Land Acquisition Channels

In June
2020, the Group successfully completed the acquisition of Chang'an Road Project
in Huangdao District, Qingdao City and Fenglin New Town Project in Luozhuang
District, Linyi City. They are the eighth and ninth property projects acquired
through diversified land acquisition channels.

Chang'an
Road Project in Huangdao District, Qingdao City is located in the old town of
the West Coast New District, which is one of the state-level new district
earmarked for development. It enjoys convenient transportation as it will be
near the planned metro station on line 6. The project will consist of a commercial
complex and a shopping street modeled on ancient architecture. It will be well
served by comprehensive amenities and facilities in its surrounding area. The
project has locked in GFA of 2 million sq.m. since August 2017, with an
expected saleable value of more than RMB30 billion. The first batch of
development lands were auctioned in June 2020 with the ratio of estimated
contracted sales to land cost at 4.0 times. The estimated saleable resources of
the first batch of development lands is RMB1.5 billion.

Company
News

On 9 June, Central
Wealth Securities initiates coverage on CIFI in a research report, titled
"Steady growth with comprehensive development of high quality and efficiency".
It is the 40th major securities house in both onshore and offshore market that
cover CIFI. In its research report, Central Wealth Securities highly values
CIFI's right timing for land acquisitions in property investment cycle and its
outstanding capabilities to steadily increase its equity stakes in property
projects. The securities brokerage firm is also impressed with CIFI's abilities
to acquire lands through diversified channels, control the land costs, build up
a portfolio of quality lands and the good judgment regarding investment. All
these strengths of CIFI have been driving the growth in both the scale of
business and financial results. At the same time, the Group's sound financial
management ensures its healthy development while its organizational reform is
conducive to the efficient expansion of its business. Central Wealth Securities
gives a BUY rating and target price of HK$7.50 on CIFI in its initial coverage
of the Company.

On 15 June, CIFI
Holdings is pleased to announce that under the general mandate, the Group
completed an issue of 185 million new shares to a well-known international
long-term fund at the placing price of HK$6.28 per share, representing only
1.26% discount to the closing price of previous trading day and a premium of
6.21% over the average price of previous ten trading days. The result reflects
the strong confidence of this international long-term fund in CIFI and its
future business outlook.  The net
proceeds are approximately HK$1,153 million, which the Group intends to use the
proceeds for project development and as working capital and general corporate
purposes.