0

March 2020

2019 Annual Results Announcement

111

2019 Results Overview

Financial Summary

Property Development

Business

Diversified Businesses

Appendix

Content

222

2019 Results Overview

3

2019 Results Overview

Pre-sale RMB117.97 bn 14.9% yoy

Net Profit RMB9.23 bn 10.5% yoy

Earnings Per Share RMB1.935 5.4% yoy

Dividend Yield 11.0% 3.1 p.p. yoy

Cash and Bank Balances at Year-end

RMB42.56 bn 5.6% yoy

Proportion of Diversified Businesses’ Revenue

10.1% 3.6 p.p. yoy

Land Bank (Gross) 49.85 mn sq.m. 5.3% yoy

Newly Added Saleable Resources (Gross)

RMB176.2 bn 35.5% yoy

444

Financial Summary

5

(RMB mn) FY2019 FY2018 Change

Revenue 60,239 56,145 +7.3%

— Revenue from property development 54,177 52,488 +3.2%

— Revenue from property management, hotel operations, property investment & environmental protection

6,062 3,657 +65.8%

Gross Profit 18,358 24,674 -25.6%

Gross Profit Margin 30.5% 43.9% -13.4 p.p.

Net Profit 9,233 8,358 +10.5%

Profit Attributable to Shareholders 7,512 7,125 +5.4%

Margin of Profit Attributable to Shareholders 12.5% 12.7% -0.2 p.p.

Earnings per Share (RMB) 1.935 1.835 +5.4%

Interim Dividend per Share (HK cents) 60.0 50.0 +20.0%

Proposed Final Dividend per Share (HK Cents) 40.0 50.0 -20.0%

Full Year Dividend per Share (HK Cents) 100.0 100.0 -

Dividend Payout Ratio 47.4% 47.5% -0.1 p.p.

Dividend Yield 11.0% 7.9% +3.1 p.p.

• Dividend Payout Ratio = Total dividend payout / Profit attributable to shareholders

• 2019 dividend yield is calculated based on the closing price of 20 March, 2020, while 2018 dividend yield is calculated based on the closing price

of 19 March, 2019

Earnings Performance

6

Balance Sheet & Key Ratios

(RMB mn) 2019.12.31 2019.6.30 2018.12.31

Cash and Bank Balances 42,555 41,588 45,062

Total Assets 273,232 250,562 230,446

Total Debt 96,670 93,567 88,529

Net Debt 54,115 51,979 43,468

Total Equity 65,336 63,961 54,981

Shareholders’ Equity 44,474 44,604 41,239

Current Ratio (x) 1.3x 1.5x 1.4x

Liabilities-to-Assets Ratio Net Gearing Ratio

69.5%

73.0% 73.5%

76.1%74.5%

76.1%

30 Jun2017

31 Dec2017

30 Jun2018

31 Dec2018

30 Jun2019

31 Dec2019

51.0%

71.4%

87.7%79.1% 81.3% 82.8%

30 Jun2017

31 Dec2017

30 Jun2018

31 Dec2018

30 Jun2019

31 Dec2019

7

7.5 4.3 4.1

1.0 3.1

4.0 1.6

3.0

5.7 4.5

1.2 2.1

8.3

3.5

4.7 5.3

6.7 5.7

4.8

0.2

3.5 2.8

4.2

4.8

1H 2020 2H 2020 1H 2021 2H 2021 Over 2 years & within5 years

Over 5 years

Senior Note

Offshore Bank Borrowings

Onshore Bank Borrowings

Domestic Corporate Bonds

Onshore Other Borrowings21.3

41.8 52.3

55.2(57.1%)

19.9

36.2

41.5 (42.9%)

2017 2018 2019

Reminbi Non Reminbi

Debt Profile

Debt Composition Currency Composition Average Borrowing Costs

Debt Maturity (As at 31 December 2019)

Total Debt: RMB96.7 bn

Onshore: 56%; Offshore: 44%

11.8 18.7

20.0 (20.7%)

11.8 8.6 8.6 (8.9%)

17.1

24.0 25.4

(26.2%)

16.5

25.8

27.5 (28.4%)

4.5

11.5

15.3 (15.8%)

2017 2018 2019Senior Note Offshore Bank Borrowings

Onshore Bank Borrowings Domestic Corporate Bonds

Onshore Other Borrowings

(RMB bn)

(RMB bn)

8.0%

7.1%

6.2%

6.5%

7.1%

2015 2016 2017 2018 2019

61.7 61.7

88.588.5

96.7 96.7

13.6

20.9

15.9

21.1

3.7

(RMB bn)

8

Jan

Mar

May & Jun

Completed the repurchase and resale of

RMB1,600 mn Domestic Corporate Bonds

Issued USD500 mn 6.7% Senior Notes due in 2022

Issued an aggregate of USD700 mn 8.375%

Perpetual Capital Securities

JunObtained a 2-year term loan of MOP1,854 mn at

HIBOR+2.4%

Jul

Adjusted the coupon rate of RMB3,000 mn Panda

Bond from 6.98% to 6.6%; Redeemed in full

USD700 mn 10.215% Subordinated Perpetual

Capital Securities

Aug

OctIssued USD500 mn 7.875% Perpetual Capital

Securities

NovIssued USD200 mn 7.750% Perpetual Capital

Securities

Total Credit Lines & Major Financing Activities

Credit Lines

Total Credit Lines RMB160 bn

Undrawn Credit Lines RMB81 bn

8

Borrowings during the Year

Total Borrowings RMB50.7 bn

Total Repayments RMB42.5 bn

Obtained 3-year term loans of HKD1,170 mn and

USD100 mn at HIBOR/LIBOR+3.25%

Ratings

Moody’s Ba2

S&P BB

CCXR AAA

United Ratings AAA

Golden Credit Rating

InternationalAAA

99

Property Development Business

10

Pre-sale Performance

GFA Pre-sold

89.7

102.7

118.0

2017 2018 2019

(RMB bn)

Pre-sale

7.36

7.98

8.91

2017 2018 2019

(mn sq.m.)

Pre-sale ASP

12,193

12,871

13,240

2017 2018 2019

(RMB /sq.m.)

2019 Pre-sale: RMB118.0 bn, up 14.9% yoy

GFA Pre-sold: 8.91mn sq.m., up 11.7% yoy

Pre-sale ASP: RMB13,240/sq.m., up 2.9% yoy

14.9%11.7% 2.9%

11

Sales Distribution

Distribution by Regions Distribution by City Clusters

Greater

Bay Area

8.91 mn

sq.m.

26.3%

Southern

China

(ex. GBA)

27.2%

Eastern

China

Western

China

5.9%

6.6%

9.3%

Central

China

11.7%

Hainan &

Yunnan

Northern

China

8.4%

Northeast

China

3.9%

Overseas

0.7%

2019 Pre-sale contributed by 178 projects in over 70 cities, of which 55 projects

were newly launched

Over 56% of GFA pre-sold from “Strategically Deepen Penetration” city clusters

Pearl

River

Delta32.1%

Yangtze

River

Delta

7.9%

Big BJ-

TJ-Hebei

Big Central

West15.2%

24.2%

South

Coast

9.2%

Others

10.7%Overseas

0.7%

8.91 mn

sq.m.

12

New Land Acquisition in 2019

Key Data By Acquisition Method

Partnership &

Equity Acquisition

34.5%

39.4%

Tender,

Auction,

Listing for

Sale

26.1%

10.90 mn

sq.m.

Featured

Towns

Newly added saleable resources：over RMB170 bn

Total land premium: RMB47.2 bn (gross) / RMB35.9 bn (attributable)

Gross AttributableChange YoY (attributable)

Number of New

Projects Acquired:42 42 -8.7%

Total Planned GFA

(mn sq.m.):10.90 9.15 +4.7%

Land Cost

(RMB bn):47.2 35.9 +22.3%

Average Land Cost

(RMB /sq.m.):4,334 3,930 +17.6%

Saleable Resources

(RMB bn):176.2 135.2 +27.3%

13

Attributable Land CostTotal Planned GFA

“Focus”

City Cluster

34.6%

17.2%

“Strategically

Deepen

Penetration”

City Cluster

48.2%

10.9 mn

sq.m.

“Opportunity”

City Cluster

Enhanced strategic foothold in city clusters by “2+3+N” Strategy

◼ 2 “Strategically Deepen Penetration” city clusters: Acquired GFA 3.77 mn sq.m, attributable

land costs RMB14.2 bn

◼ 3 “Focus” city clusters: Acquired GFA of 5.25 mn sq.m., attributable land cost of RMB15.4 bn

◼ N “Opportunity” city clusters: Acquired GFA of 1.87 mn sq.m., attributable land cost of RMB6.3

bn

“Opportunity”

City Cluster

“Focus”

City Cluster

39.5%

17.6%

“Strategically

Deepen

Penetration”

City Cluster

42.9%

RMB35.9 bn

New Land Acquisition in 2019

14

Land Bank (As at 31 December 2019)

Overseas(1.0%)

0.39 mn sq.m.

Hong Kong(0.02%)

0.007 mn sq.m.

Northeast China Region

(1.1%)0.46 mn sq.m.

NorthernChinaRegion(5.7%)

2.29 mn sq.m.

Central China Region(8.6%)

3.44 mn sq.m.

WesternChinaRegion(7.9%)

3.14 mn sq.m.

Hainan Region(12.3%)

4.88 mn sq.m.

Eastern ChinaRegion(20.7%)

8.23 mn sq.m.

Hong Kong

Southern China Region(27.8%)

11.05 mn sq.m.YunnanRegion(14.6%)

5.83 mn sq.m.

• Figures above are on attributable basis unless otherwise stated

Attributable

Land Bank

39.70 mn sq.m., up 9.6% yoy

Land Cost

RMB3,364/sq.m.

Gross

Land Bank

49.85 mn sq.m., , up 5.3% yoy

Land Cost

RMB3,509/sq.m.

15

Land Bank in Greater Bay Area and Yangtze

River DeltaA total of 50 projects in Greater Bay Area

Over 12.20 mn sq.m. of gross land bank; 8.34 mn sq.m.

of attributable land bank, accounting 21% of the total

attributable land bank

Continue to exploit the potentials of Greater Bay Area

with our deep-rooted presence, sufficient for

development in the coming 4-5 years

City in Greater

Bay Area

Planned Attributable

GFA（mn sq.m.）

Proportion

(%)

Zhongshan 4.48 53.8

Huizhou 1.92 23.0

Guangzhou 0.69 8.3

Foshan 0.64 7.6

Jiangmen 0.39 4.7

Zhuhai 0.21 2.5

Hong Kong 0.07 0.1

Total 8.34 100.0

City in Yangtze

River Delta

Planned Attributable

GFA（mn sq.m.）

Proportion

（%）

Yangzhou 0.93 19.0

Changzhou 0.79 16.2

Nanjing 0.72 14.8

Huzhou 0.35 7.2

Shanghai 0.35 7.1

Wuxi 0.27 5.5

Hefei 0.22 4.5

Luzhou 0.21 4.2

Nantong 0.19 3.9

Yixing 0.13 2.7

Others Cities 0.73 14.9

Total 4.89 100.0

Other cities in Yangtze River Delta include Kunshan,

Suzhou, Zhenjiang, Jiaxing, and Hangzhou, etc.

A total of 48 projects in Yangtze River Delta

Over 6.20 mn sq.m. of gross land bank; 4.89 mn sq.m.

attributable land bank, accounting for 12% of the total

attributable land bank

Continue to expand in Yangtze River Delta, sufficient for

development in the coming 3-4 years

16

Entered into 10 cooperation agreements

and 5 framework agreements of urban

renewal projects

Locked-in land bank of over 6.00 mn

sq.m., with saleable resources of over

RMB200.0 bn

Continue our deep-roofed presence in

Greater Bay Area and prudently expand to

Northern China Region and Central China

Region

Featured Towns and Urban Renewal

Featured Town CitySite Area

(sq.m.)

Project

Planned

Total GFA

(sq.m.)

Agile Champion Town Weihai 1,631,087 1,811,812

Agile Romantic Town Zhengzhou 420,723 656,582

International Waterfront

New TownYangzhou 306,886 508,218

Agile Baodi Jinqiao

International TownTianjin 231,099 329,323

Lahuo Tiandi Town Maoming 86,402 207,255

Technology & Innovation

TownXiangyang 213,809 442,912

2.26

3.85

2018 2019

70.4%

Locked-in GFA of Urban Renewal Project

(mn sq.m.)

Newly Obtained Project in 2019

Covered 16 cities in 10 provinces and entered

into 19 investment agreements of featured

towns projects

Newly added 3.90 mn sq.m. land bank for

featured town during the year, of accumulating

over 5.10 mn sq.m. in total, with average land

cost of RMB1,530 per sq.m.

Newly added saleable resources during the year:

>RMB52.0 bn

17

Projected GFA under development in 2020 is 25.85 mn sq.m., up 12% yoy

Including New Start GFA of 9.11 mn sq.m., up 18% yoy

Completed GFA is 7.09 mn sq.m., up 11% yoy

Development Plan in 2020

Geographical Breakdown of GFA Under Development

Greater

Bay Area

14.7%

Southern

China

(ex. GBA)

22.0%

Eastern China

Western

China

9.7%

9.9%

Central China

14.7%19.8%

Hainan &

Yunnan

Northern

China

4.9%

Northeast China

2.4%

Overseas

1.9%

25.85mn sq.m.

(mn sq.m.) FY2020

Projected

FY2019

Actual

GFA Under Development (Above Ground GFA)

25.85 23.11

in which, New Start GFA (Above Ground GFA)

9.11 7.74

Completed GFA 7.09 6.37

18

Saleable Resources in 2020

81%83%

87%

15%15%

12%4%

2%1%

2018 2019 2020

End-users & Upgraders Tourism High-end

Number of Saleable Projects

2018

2019

(No. of projects)

80

123

178

43

55

35

0 50 100 150 200 250

213

2020

(Expected)

178

123

(mn sq.m.)

13.33

Product Composition (by GFA)

14.34

20.2%

11.1%

13.3%24.0%

9.3%

10.1%

9.7%

1.3%

15.21mn sq.m.

Greater

Bay Area

Southern

China

(ex. GBA)

Eastern

China

Western

China

Central

China

Hainan

&

Yunnan

Northern

China

Overseas

15.21

Over RMB220.0 bn of saleable resources

35 new projects to be launched

Over 13.00 mn sq.m. of end-users &

upgraders products type

Saleable resources spanning over

different regions

Geographical Breakdown (by GFA)

Northeast

China1.0%

New ProjectsExisting Projects

19

Land Acquisition Strategies 2020

“Acquire high quality and right lands by

various channels”

One Core Two Wings

Acquire lands in multiple ways to actively

facilitate the development of featured

towns and urban renewal projects

Optimise the presence in “2+3+N” city

clusters, focus on tier-1 & tier-2 cities

and nearby quality satellite regions

Make in-depth development in the

engaged cities

2

“Strategically-

Deepen

Penetration”

City Cluster

• Pearl River Delta, such as Guangzhou,

Foshan and Zhongshan, etc.

• Yangtze River Delta, such as Shanghai,

Nanjing, Hangzhou and Hefei, etc.

3“Focus”

City Cluster

• Beijing-Tianjin-Hebei, such as Beijing,

Tianjin and Shijiazhuang, etc.

• Central Western China, such as Wuhan,

Changsha, Xi'an and Zhengzhou, etc.

• Chengyu, such as Chongqing and Chengdu,

etc.

N“Opportunity”

City Cluster

• Shenyang, Haikou, Kunming, Qingdao,

Guiyang, etc.

“2+3+N” Strategy

202020

Diversified Businesses

21

Diversified Businesses

2017 2018 2019 YoY Growth CAGR

(RMB mn)

Revenue 2,345 3,657 6,061 +66% 61%

Operating Profit

(adjusted)389 1,214 1,431 +18% 92%

Proportion of Diversified Businesses Revenue

850 911 973

1,290 2,133

3,577

205

614

1,510

2017 2018 2019

Hotel Operations and Property Development A-Living Environmental Protection

Breakdown of Diversified Businesses Revenue

2,345

3,657

(RMB mn)

6,060

66%

5.0%

7.0%

10.0%

2017 2018 2019

22

33.5%

38.2%36.7%

17.0%

24.0%25.2%

300

811

1,292

2017 2018 2019

(RMB mn)

A-Living

2017 2018 2019 YoY Growth CAGR

(RMB mn)

Revenue 1,761 3,377 5,127 +52% 71%

Operating Profit 398 1,076 1,385 +29% 87%

Gross Profit and Gross Profit Margin Net Profit and Net Profit Margin

59.3%46.0%

591

1,290

1,883

2017 2018 2019

(RMB mn)

23

138

85

48

5

234

172

54

9

Total GFA UnderMgt

Third-party (Incl.M&A)

Agile Greenland

2018 2019

(mn sq.m.)

GFA Under Management

230

137

70

22

356

239

77

40

Total GFA UnderMgt

Third-party (Incl.M&A)

Agile Greenland

2018 2019

(mn sq.m.)

1,625 1,463

289

2,830

1,812

485

Property Mgt Services Extended VAS Community VAS

2018 2019

(RMB mn)

A-Living

Revenue and Growth Rate (by Business Lines)

Contracted GFA

23.9%

74.2%

68.1%

69.4%

81.9%9.5%

74.0%

55.0%

81.0%

11.7%

101.4%

Proportion of third-party

in 2019 was 73.5%, up

11.9 p.p. yoy

Proportion of third-party

in 2019 was 67.1%, up

7.5 p.p. yoy

445

698

147

715

903

264

Property Mgt Services Extended VAS Community VAS

2018 2019

(RMB mn)

25.3%

49.8% 54.4%

Gross Profit and Gross Profit Margin (by Business Lines)

60.7%

79.6%

29.4%

Profit Margin

24

Completed the acquisitions of 5 companies in total, namely Qingdao Huaren, Harbin Jingyang,

Nanjing Zizhu, Lanzhou Chengguan and Guangzhou Yuehua

As at 31 December, 2019, the number of projects under management by A-Living reached 1,180,

covering 27 provinces, municipalities and autonomous regions, and 93 cities across the country

During the year, A-Living announced the acquisition of 60% equity interest in CMIG PM and New

CMIG PM, recording the biggest-ever M&A deal in the industry. Upon completion of the acquisition,

the total GFA under management by A-Living will exceed 500 million sq.m. and the number of

projects under management will exceed 3,000*, becoming the market leader

Mergers and Acquisitions of A-Living

Qingdao Huaren(Listed company on the NEEQ)

Acquired 89.6643% shares

Portfolio：management of public

buildings, office buildings, and

residential buildings

Nanjing Zizhu(One of the Top 100 property

management companies in China)

Acquired 51% equity interest

Portfolio：management of public

buildings and residential buildings

Lanzhou Chengguan(One of the Top 100 property management

companies in China)

Acquired 51% equity interest

Portfolio：management of municipal, office

buildings, residential, educational properties

CMIG PM and New CMIG PM(8 brands ranked among the Top 100 in China)

Acquired 60% equity interest in Sep 2019

Portfolio：comprehensive business portfolio incl. residential

properties, public buildings and office buildings

Harbin Jingyang(A market leader in Heilongjiang

province)

Acquired 60% equity interest

Portfolio：management of residential，commercial, office buildings

Guangzhou Yuehua(One of the Top 100 property management

companies in China)

Acquired 51% equity interest

Portfolio：management of public buildings

* Incl. subsidiaries and associates of CMIG PM and New CMIG PM

25

2017 2018 2019 YoY Growth CAGR

(RMB mn)

Revenue 205 614 1,510 +146% 171%

Operating Profit 25 197 335 +70% 266%

Environmental Protection

Gross Profit Operating Profit

117

346

509

2017 2018 2019

(RMB mn) 47%

167

206

2018 2019

(‘000 tonne)

Hazardous Waste Treatment

(Actual Processing Capacity)

Common Solid Waste Treatment

(Actual Processing Capacity)

Water Treatment

(Actual Processing Capacity)

389

2018 2019

(‘000 tonne)

27

98

2018 2019

(mn tonne)

25

197

335

2017 2018 2019

(RMB mn)

Operating Profit Margin

12.2%

32.1%

22.2%

2017 2018 2019

70%

26

Environmental Protection

Holding 45 projects as at 31 December 2019

Project Type Planned Maximum Processing Capacity

(As as 31 December 2019)

Project Status

Hazardous Waste

➢ 3.39 mn tonnes/year

(2018: 2.70 mn tonnes /year)

Landfill

➢ 18.00 mn m3

(2018: 14.00 mn m3)

Water Treatment

➢ 2.24 mn tonnes/day

(2018: 2.10 tonnes/day)

Domestic Waste-to-energy

➢ 4,850 tonnes/day

(2018: 2,500 tonnes/day)

4

3

6

32 45 Projects

21

14

10

45 Projects

Hazardous

Waste

Integrated

Industrial Park

Water

Treatment

Domestic

Waste-to-

energy

Under Construction

or In Preparation

Expected to be in

operation in 2020

In Operation

27

Agile City

Development Milestones

2017

◼ Consolidation:

Construction Group formally established

in January

2018

◼ Forge Ahead Steadily:

The business scope covers 24 provinces and

municipalities

2019

◼ Getting Prepared: Integrated Engineering, Procurement and Construction

(EPC), strategically planned Landscaping and established the 5 major

production sites of Home Decoration

◼ Renamed as “Agile City Group” in December, redefining the various

possibilities of science and technology bringing smarter and better urban

ecological spaces to people

28

Agile City

Two Major Business Segments: Habitat Technology and Engineering Procurement Construction (EPC)

Habitat Technology covers three main

businesses including green ecological landscape,

smart home decoration and design consulting

During the year, Agile City served more than 270

governments, developers and individual

corporates customers, with greening area of

nearly 20.0 mn sq.m.

Established 5 smart home production bases and

delivered in batched with more than a million of

exquisitely decorated residential houses

Engineering Procurement Construction (EPC)

covers three main businesses: design consulting,

construction and material trading

Possess first-class qualification for general

construction contracting and Grade A qualification

for engineering design and construction industry

(construction engineering), approved by the

Ministry of Housing and Urban-Rural Development,

etc.

Accumulated construction area was approximately

5.90 mn sq.m.

29

Commercial Agent Construction

In partnership with small and medium-sized real estate companies to provide 2 types of services: agent

construction and minority stake cooperation

Government Agent Construction

In partnership with government: providing full-chain services such as development and transformation

for indemnificatory apartment, public buildings and real estate projects

Capital Agent Construction

◼ In partnership with various financial institutions: providing liquidation and value-added services for

non-performing assets

◼ In partnership with real estate fund platform: providing professional real estate development

business output and brand output

Real Estate Construction Management

Abundant

Capital

Professional

Management

Quality

Products

Industrial

Support

Brand Name2020 Leading Developers of China Agent-construction

Operation (TOP2)

Five Major Strengths Comprehensive Strength

Evaluation Organization: China Real Estate TOP10 Research Group

3 Business Divisions

30

Real Estate Construction Management

30

2018

Accumulated

Agent

Construction

Projects

2019

Accumulated

Agent

Construction

Projects

Accumulated

Saleable

Resources

(RMB bn)

Region

Southern China 2 5 13.9

Eastern China 3 6 31.2

Western China - 4 14.1

Northern China - 1 1.3

Total 5 16 60.5

Obtained 11 contracted projects and a total of 16 real estate construction

management projects in 2019

Total saleable resources: Over RMB60.0 bn

9 projects under construction in 2019, and 14 real estate construction

management projects to be launched in 2020

Target in 2020: Expand 12-15 new projects

Northern China

Region

Western ChinaRegion

Eastern ChinaRegion

Southern China Region

31

Commercial

Established a diversified business ecosystem covering shopping

malls, office buildings, hotels, cultural and tourism retail and

community, etc.

Spanning over 50 cities, with GFA >3 mn sq.m.

◼ Occupancy rate of Shanghai Marriott Hotel City Centre: 86%

◼ Rental rate of Guangzhou Agile Center: 99%

Innovate business ecology (Asset Light Model)

◼ Hainan Clearwater Bay was rated as AAAA scenic spot

◼ Agile Tenchong Cultural & Tourism Project was rated as AAA

scenic spot

◼ Agile Egret Lake Huizhou was rated as AAA scenic spot

Provided stable income to the Group

Revenue from Hotel Operations

684 722 802

2017 2018 2019

(RMB mn)

Revenue from Property Investment

167

189 173

2017 2018 2019

(RMB mn)

323232

Appendix

33

Corporate Structure (As at 31 December 2019)

Chen’s Family

67.1%

Others

32.9%

34

Pre-Sale and GFA Pre-Sold Breakdown

Pre-Sale GFA Pre-Sold

2019

RMB118.0 bn

2018

RMB102.7bnChange+/–p.p.

2019

8.91 mn sq.m.

2018

7.98 mn sq.m.

Change

+/–p.p.

Southern China 32.2% 34.6% -2.4 32.9% 36.0% -3.1

—Greater Bay Area (GBA) 27.4% 30.1% -2.7 26.3% 28.0% -1.7

—Non-GBA 4.8% 4.5% +0.3 6.6% 8.0% -1.4

Eastern China 29.7% 19.3% +10.4 27.2% 18.4% +8.8

Other Regions

(Non-Tourism Property)23.1% 26.9% -3.8 28.2% 30.0% -1.8

—Western China 4.0% 8.8% -4.8 5.9% 11.2% -5.3

—Northeast & Central China

& Northern China17.5% 15.8% +1.7 21.6% 17.8% +3.8

—Overseas 1.6% 2.3% -0.7 0.7% 1.0% -0.3

Tourism Property

Hainan & Yunnan 15.0% 19.2% -4.2 11.7% 15.6% -3.9

Total 100% 100% - 100% 100% -

35

Recognised Sales and GFA Sold Breakdown

Recognised Sales Recognised GFA Sold

2019

RMB54.2 bn

2018

RMB52.5 bnChange+/–p.p.

2019

4.53 mn sq.m.

2018

4.68 mn sq.m.

Change

+/–p.p.

Southern China 27.1% 34.5% -7.4 28.1% 42.4% -14.3

—Greater Bay Area (GBA) 20.1% 29.9% -9.8 18.7% 33.3% -14.6

—Non-GBA 6.9% 4.6% +2.3 9.4% 9.1% +0.3

Eastern China 29.4% 27.6% +1.8 26.7% 28.0% -1.3

Other Regions

(Non-Tourism Property)31.3% 12.5% +18.8 34.6% 15.7% +18.9

—Western China 18.1% 7.1% +11.0 19.3% 9.5% +9.8

—Northeast & Central China

& Northern China11.1% 3.8% +7.3 13.9% 5.1% +8.8

—Overseas 2.1% 1.6% +0.5 1.5% 1.1% +0.4

Tourism Property

Hainan & Yunnan 12.2% 25.4% -13.2 10.6% 13.9% -3.3

Total 100% 100% - 100% 100% -

36

2019 New Land Acquisition Table

CityAttributable

Interest

Site Area

(sq.m.)

Total Planned

GFA of the

Project

(sq.m.)

Land Cost

(RMB mn)

Southern China Region

1 Site in Ancient Town Zhongshan 100% 26,799 80,398 643

2 Site in Light Rail Station Huizhou 70% 55,000 196,508 500

3a Site A in Huicheng District Huizhou 49% 24,792 76,855 441

3b Site B in Huicheng District Huizhou 35% 88,844 222,110 1,301

4 Site in Taicheng District Jiangmen 100% 34,387 96,284 257

5 Site in Xinhui District Jiangmen 51% 29,372 63,525 529

6 Site in Qingcheng District Qingyuan 40% 166,700 466,760 1,775

7 Site in Dongcheng Avenue Qingyuan 50% 53,331 111,995 365

8 Site in Lehuo Tiandi Town Maoming 100% 86,402 207,255 393

9 Site in Golden Bay Beihai 60% 274,434 497,813 906

Sub-total 840,061 2,019,504 7,110

Eastern China Region

10 Site in Pukou District Nanjing 65% 233,257 702,104 3,750

11 Site in Jiangning District Nanjing 51% 63,132 155,937 1,900

12 Site in Xixiashu Pure Industry Changzhou 100% 47,566 61,249 32

13 Site in Gaoxin District Changshu 49% 51,039 132,701 976

37

2019 New Land Acquisition Table

CityAttributable

Interest

Site Area

(sq.m.)

Total Planned

GFA of the

Project

(sq.m.)

Land Cost

(RMB mn)

Eastern China Region

14 Site in Xinzhan District Hefei 100% 75,608 136,094 1,066

15 Site in Dianshan Lake Town Kunshan 100% 60,291 108,523 1,227

16 Site in Agile Champion Town Weihai 64.8% 1,631,086 1,811,812 1,957

17 Site in Yunlong District Xuzhou 50% 132,397 172,115 1,734

18Site in International Waterfront

New TownYangzhou 100% 306,886 508,218 2,206

19 Site in High Technology Town Huzhou 100% 74,689 89,288 32

20 Site in Guanlin Industry Yixing 100% 121,827 133,000 60

21 Site in Puyang Industry Puyang 100% 44,682 51,200 23

Sub-total 2,842,460 4,062,241 14,963

Western China Region

22 Site in Wenjiang District Chengdu 100% 105,832 245,068 2,284

23 Site in Beipei District Chongqing 100% 112,059 168,089 1,310

24 Site in Jiulongpo District Chongqing 100% 50,035 100,070 855

25 Site in Urban District Weinan 100% 43,637 104,730 170

Sub-total 311,564 617,957 4,619

38

2019 New Land Acquisition Table

CityAttributable

Interest

Site Area

(sq.m.)

Total Planned

GFA of the

Project

(sq.m.)

Land Cost

(RMB mn)

Central China Region

26 Site in High-tech District Wuhan 49% 119,789 275,514 2,857

27 Site in Technology & Innovation Town Xiangyang 100% 213,809 442,912 639

28 Site in Zhengshang New District Zhengzhou 33% 46,691 116,726 296

29 Site in Agile Romantic Town Zhengzhou 72% 420,723 656,582 965

Sub-total 801,011 1,491,734 4,757

Northern China Region

30 Site in Hexi District Beijing 100% 36,478 80,252 3,180

31 Site in Yuci District Jinzhong 49% 145,037 452,292 982

32 Site in Zhengding New District Shijiazhuan 100% 49,697 99,394 750

33 Site in Haijiao Garden District Tianjin 50% 230,355 327,276 2,890

34Site in Agile Baodi Jinqiao

International Town

Tianjin96% 231,099 329,323 838

Sub-total 692,666 1,288,537 8,640

Yunnan Region

35 Site in Xishan District Kunming 100% 64,076 260,873 1,568

36 Site in Panlong District Kunming 50% 81,914 262,126 2,253

37 Site in Agile International Garden Ruili 100% 149,279 522,477 219

38 Site in Agile Quenya Xishuangbanna 100% 126,400 151,680 279

Sub-total 421,669 1,197,156 4,319

39

CityAttributable

Interest

Site Area

(sq.m.)

Total Planned GFA

of the Project

(sq.m.)

Land Cost

(RMB mn)

Northeast China Region

39 Site in Development District Shenyang 50% 30,705 52,198 157

Sub-total 30,705 52,198 157

Hong Kong

40aSite A in Mount Parker Road

ProjectHong Kong 100% 1,067 2,479 879

40bSite B in Mount Parker Road

ProjectHong Kong 90% 929 2,159 789

Sub-total 1,996 4,638 1,668

Overseas

41 Site in Agile Embassy Garden Kuala Lumpur 100% 12,464 111,900 802

42 Site in Agile Sky Residence Phnom Penh 49% 4,220 50,640 196

Sub-total 16,684 162,540 998

Grand Total 5,958,816 10,896,504 47,231

2019 New Land Acquisition Table

40

This presentation may contain forward-looking statements. Any such forward-looking statements are based on a number of assumptions

about the operations of the Agile Group Holdings Limited (the “Company”) and factors beyond the Company's control and are subject to

significant risks and uncertainties, and accordingly, actual results may differ materially from these forward-looking statements.

The Company undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to

such dates. The information in this presentation should be considered in the context of the circumstances prevailing at the time of its

presentation and has not been, and will not be, updated to reflect material developments which may occur after the date of this

presentation. The slides forming part of this presentation have been prepared solely as a support for oral discussion about background

information about the Company. This presentation also contains information and statistics relating to the China and property development

industry. The Company has derived such information and data from unofficial sources, without independent verification. The Company

cannot ensure that these sources have compiled such data and information on the same basis or with the same degree of accuracy or

completeness as are found in other industries. You should not place undue reliance on statements in this presentation regarding the

property development industry. No representation or warranty, express or implied, is made as to, and no reliance should be placed on,

the fairness, accuracy, completeness or correctness of any information or opinion contained herein. It should not be regarded by

recipients as a substitute for the exercise of their own judgment. Information and opinion contained in this presentation may be based on

or derived from the judgment and opinion of the management of the Company. Such information is not always capable of verification or

validation. None of the Company or financial adviser of the Company, or any of their respective directors, officers, employees, agents or

advisers shall be in any way responsible for the contents hereof, or shall be liable for any loss arising from use of the information

contained in this presentation or otherwise arising in connection therewith. This presentation does not take into consideration the

investment objectives, financial situation or particular needs of any particular investor. It shall not to be construed as a solicitation or an

offer or invitation to buy or sell any securities or related financial instruments. No part of it shall form the basis of or be relied upon in

connection with any contract or commitment whatsoever. This presentation may not be copied or otherwise reproduced.

This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other

jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws 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 and its management and financial statements. No public

offer of securities is to be made by the Company in the United States.

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