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 disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(incorporated in Hong Kong with limited liability)

(Stock Code: 00081)

FINANCIAL AND BUSINESS REVIEW FOR THE FIRST QUARTER OF 2018

The following description provides certain unaudited financial data relating to the performance of China Overseas Grand Oceans Group Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") in the first quarter of 2018.

Financial Performance

The Group turnover was approximately HK$3,985 million for the three months ended 31 March 2018 while the operating profit for the quarter was approximately HK$481 million.

Business Review

In the first quarter of 2018, sales of properties were satisfactory. The Group and its associates and joint ventures recorded contracted property sales of approximately HK$9,135 million for an aggregated area of about 742,400 square meters (sq.m.) sold. Also, as at 31 March 2018, the balance of preliminary sales pending the completion of sales and purchase agreements was approximately HK$806 million for an aggregated area of about 55,000 sq.m..

Progress for all development projects was satisfactory and largely in line with the construction programs.

During this quarter, the Group acquired three parcels of land in Liuzhou, Yancheng and Baotou with total attributable gross floor area of approximately 823,500 sq.m. for attributable land cost of approximately RMB3,379 million (equivalent to HK$4,157 million). As at 31 March 2018, the Group and its associates and joint ventures together have a total landbank available to build gross floor area of approximately 19.7 million sq.m. (of which, 18.4 million sq.m. are attributable to the Group, including the interests in associates and joint ventures) in the PRC.

The Group would maintain a professional and prudent financial management of the financial resources and also continue to closely monitor the impacts from the external economic environment, volatility of exchange rate of Renminbi and national policy changes to the business operations in order to maximize its shareholders' returns in the long term.

General

This announcement may contain forward-looking statements that involve risks and uncertainties. The Company's shareholders and potential investors should not place undue reliance on these forward-looking statements, which reflect only our belief as of the date of these statements. These forward-looking statements are based on the Group's own information and on information from other sources we believe to be reliable. The Group's actual results may be materially different from those expressed or implied by these forward-looking statements, which could affect the market price of the Company's share.

The Company's shareholders and potential investors should note that all the figures contained herein are unaudited. Accordingly, figures and discussions contained in this announcement should in no way be regarded as to provide any indication or assurance on the financial results of the Group for the three months ended 31 March 2018.

The Company's shareholders and potential investors are urged to exercise caution in dealing in the securities of the Company and are recommended to consult their own professional advisers if they are in doubt as to their investment positions.

By order of the Board of Directors China Overseas Grand Oceans Group Limited

Yan Jianguo

Chairman and Non-Executive Director

Hong Kong, 25 April 2018

As at the date of this announcement, the board of directors of the Company comprises eight directors, of which three are executive directors, namely, Mr. Zhang Guiqing, Mr. Paul Wang Man Kwan and Mr. Yang Lin; two non-executive directors, namely Mr. Yan Jianguo and Mr. Billy Yung Kwok Kee, and three independent non-executive directors, namely Dr. Timpson Chung Shui Ming, Mr. Jeffrey Lam Kin Fung and Mr. Dantes Lo Yiu Ching.

The review for first quarter of 2018 is published on the Company's website (http://www.cogogl.com.hk), the website of The Stock Exchange of Hong Kong Limited (http://www.hkexnews.hk) and the website of EQS TodayIR Ltd (http://www.todayir.com/en/showcases.php?code=81).

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China Overseas Grand Oceans Group Ltd. published this content on 25 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 April 2018 05:11:03 UTC