Greenland Hong Kong : Continuing Connected Transaction Provision of Financial Assistance

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綠地香港控股有限公司

(incorporated in the Cayman Islands with limited liability)

The Board is pleased to announce that on 29 June 2017 (after trading hours), Hangzhou Tuojiang, an indirectly wholly-owned company of the JV Company, entered into the Facility Agreement with Borrower A and Borrower B, pursuant to which Hangzhou Tuojiang has agreed to provide an unsecured revolving credit facilities in the sum of RMB125,000,000 (approximately HK$143,625,000) to each of Borrower A and Borrower B respectively for a term of 36 months from the date of the Facility Agreement.

As Borrower B is a connected person of the Company under the Listing Rules, the Facility Agreement and the transactions contemplated thereunder constitutes a continuing connected transaction for the Company under the Listing Rules. As the highest applicable percentage ratio in respect of the cap of the Credit Facilities granted to Borrower B represents more than 0.1% but less than 5%, the grant of the Credit Facilities to Borrower B constitutes a continuing connected transaction for the Company subject to the reporting, annual review and announcement but is exempt from the independent shareholders' approval requirements under Chapter 14A of the Listing Rules.

The Board is pleased to announce that on 29 June 2017 (after trading hours), Hangzhou Tuojiang, an indirectly wholly-owned company of the JV Company, entered into the Facility Agreement with Borrower A and Borrower B, pursuant to which Hangzhou Tuojiang has agreed to provide an unsecured revolving credit facilities in the sum of RMB125,000,000 (approximately HK$143,625,000) to each of Borrower A and Borrower B respectively for a term of 36 months from the date of the Facility Agreement.

The principal terms of the Facility Agreement are summarised as follows: Date : 29 June 2017

Parties : (i) Hangzhou Tuojiang, an indirectly wholly-owned subsidiary of the JV Company, as the lender

1. Borrower A, a wholly-owned subsidiary of the Company, as borrower

2. Borrower B, connected person of the Company, as borrower

Purpose : To provide the Borrowers with working capital for their daily operation

Credit Facilities amount : (i) an unsecured revolving credit facilities in the sum of

RMB125,000,000 (approximately HK$143,625,000) to be granted to Borrower A

(ii) an unsecured revolving credit facilities in the sum of RMB125,000,000 (approximately HK$143,625,000) to be granted to Borrower B

Term : 36 months from the date of the Facility Agreement (the "Term")

Interest rate : Not exceeding 4.75% per annum.

Security : No security is provided by the Borrowers

Repayment : All advance to the Borrowers shall be repaid before expiry

of the Term

Other terms : All the obligations of Borrower A and Borrower B under the

Facility Agreement are on several basis

The cap (the "Cap") for the Credit Facilities to be granted to Borrower B by Hangzhou Tuojiang under the Facility Agreement during the Term is RMB125,000,000 (approximately HK$143,625,000).

The Cap for the Credit Facilities to be granted to Borrower B was arrived at after arm's length negotiation between Hangzhou Tuojiang and the Borrowers, and were determined with reference to the surplus cash of the JV Group on hand and the expected cashflow of the Group.

The Group is principally engaged in real estate development in various cities in the PRC including Shanghai, Ningbo, Kunming, Huangshan, Suzhou, Changshu, Wuxi, Xuzhou, Haikou, Nanning and Taiyuan.

Borrower B and Hangzhou Tuojiang are principally engaged in property development in the PRC.

Hangzhou Tuojiang is an indirectly wholly-owned company of the JV Company, which is owned as to 50% by Borrower A and as to 50% by Borrower B. The JV Company and Hangzhou Tuojiang (collectively the "JV Group") were established to undertake a property development project. As such property development project has been completed, the JV Group has surplus cash on hand. All the shareholders of the JV Company consider that it would be in the best interest of all the shareholders of the JV Company as a whole to advance such surplus cash by the JV Group to each shareholder of the JV Company for an amount in proportional to its shareholding interest in the JV Company based on same terms and conditions (including interest rate and repayment term). Hence, the Facility Agreement was entered into to achieve the aforesaid purposes.

There is no Director has a material interest in the transactions contemplated under the Facility Agreement and none of them is required to abstain, or has abstained, from voting on the relevant Board resolutions to approve the Facility Agreement.

The Board (including the independent non-executive Directors) considers that the Facility Agreement was entered into in the ordinary and usual course of business of the Group, and the transactions contemplated thereunder are in the ordinary and usual course of business of the Group, and that the terms of the Facility Agreement (including the Cap) have been negotiated on an arm's length basis and are normal commercial terms which are fair and reasonable and in the interests of the Company and the Shareholders as a whole.

As at the date of this announcement, Hangzhou Tuojiang is an indirectly wholly-owned company of the JV Company, which is owned as to 50% by Borrower A and as to 50% by Borrower B. Accordingly, Borrower B is a connected person of the Company under the Listing Rules.

As the highest applicable percentage ratio in respect of the cap of the Credit Facilities granted to Borrower B represents more than 0.1% but less than 5%, the grant of the Credit Facilities to Borrower B constitutes a continuing connected transaction for the Company subject to the reporting, annual review and announcement but is exempt from the independent shareholders' approval requirements under Chapter 14A of the Listing Rules.

In this announcement, the following expressions have the following meanings, unless the context requires otherwise:

"associate" has the meaning ascribed to it under the Listing Rules

"Board" the board of Directors

"Borrower A" SPG Investment XVII (BVI) Limited, a company established in the British Virgin Islands with limited liability and is a wholly-owned subsidiary of the Company, which holds 50% of the entire issued share capital of the JV Company

"Borrower B" 旭富有限公司 (Xu Fu Co. Limited*), a company established in the British Virgin Islands with limited liability, which holds 50% of the entire issued share capital of the JV Company

"Borrowers" collectively, Borrower A and Borrower B

"Company" Greenland Hong Kong Holdings Limited (綠地香港控股有 限公司), a company incorporated with limited liability in the Cayman Islands and the Shares of which are listed on the Main Board of the Stock Exchange (Stock Code: 0337)