Sino Ocean Land : Core Net Profit for 2013 Soars 21% to RMB 3.036 Billion

(Hong Kong, 13 March 2014) Sino-Ocean Land Holdings Limited("Sino-Ocean Land" or the "Company", stock code: 3377), one of the largest property developers in Beijing and the Pan-Bohai Rim,today announced the annual results of the Company and its subsidiaries (collectively known as the "Group") for the twelve months ended 31 December 2013 (the "Period").

During the Period, the Group achieved steady business growth and recorded revenue of RMB31.1billion, up 9% from a year ago. Its core netprofit soared21% year-on-year to RMB3.036billion,with core net profit marginincreased 1percentage point to 10%from the previous year. Basic earnings per share climbed9% year-on-year to RMB0.592. The Board of Directors recommended paying afinaldividend of 16HK cents per share with a scrip dividend option.Together with an interim dividend of 7 HK cents per share, total dividend per share was23HK cents, same as last year.

Sales hit new record as a result of visionary planningand marketing strategy

The property markets in China's first-tier and thriving second-tier cities maintained steady growthin 2013. In addition to visionary planning, the Groupalso employed flexible pricing strategies in accordance with the market conditions. As a result, its contracted sales for the Period expanded 15% year-on-year to RMB35.8 billion. Robust growth of contracted sales in the first-tier cities has been the key driver for the Company to achieve record sales every year since its listing, and they jumped 34% year-on-year in 2013.

As its market shares in Beijing, Zhongshan, Shenzhen, Qinhuangdao and Zhenjiang swelled bigger during the Period, the Group has established a more balanced and stable coverage of China's market. Its sales ranked top 10 in 8 cities and top 3 in another 5 cities out of the 18 cities it had launched projects last year.

As at 31 December 2013, the Group locked in contracted sales of approximately RMB42.5billion, which will be booked in its accounts for 2014 and coming fiscal years. There is high profit visibility.

Remarkable returns and great potential of investmentproperties

With a view to creating a balanced business portfolio in the medium and long term, the Group has teamed up with strong partners to boost investment in investmentpropertiesin recent years. This initiative produced satisfactory results.The Group's first wholly-owned shopping malls, Ocean We-Life in Beijingand Tianjin, commenced operations in early 2013 and towards the end of2013, respectively.As at the end of 2013, the Group boasted investmentproperties with a total GFAof about 850,000 square meters, up 47% up from a year ago. Revenues from these properties grew dramatically by 31% year-on-year.

Sino-Ocean Land andSwire Properties enjoy a long business relationship in China havingforged a partnership for almost ten years. Their first joint development project, INDIGOin Beijing, was launched inSeptember2012, while Sino-Ocean Taikoo Li Chengdu, the second commercial complex jointly developed by the twocompanies, will be put on the marketin phases from October 2014.

According to the current estimate, the Group will complete and hold investmentproperties with a GFA of more than 3 million square meters by 2019. Over 90% of thatis located in core areas of Beijing and other thrivingsecond-tier cities, thereby enabling the Group to diversify its revenue sources and lay a solid foundation for sustainable development.

Synergyarising from closer cooperation with major shareholders

InOctober 2013, the Groupentered into anMOU with China Life Group. Pursuant to it,China Life Group shall reinforce capital bonding with Sino-Ocean,increase the Company's capital strength through equity investment,and improve the Company's debtstructure and lower its borrowing costs through investment in corporatebondsandother financial products. Meanwhile, Sino-Ocean Land will serve as a professional platform for China Life Group to tap into alternative investments. Both sides will further explore opportunities to expandtheircollaborationin the senior living business.

Sino-Ocean Land completed the private placement of 1.32 billion shares to its two major shareholders, China Life Group and Nan Fung Group,at HK$4.74 per share in November 2013, raising proceeds of approximatelyUS$808 million. Along with the transaction, the Company acquired Nan Fung's equity in the CBD-Z6 Project in Beijing and Ocean Diamond Bayin Dalian. After the subscription, China Life Group and Nan Fung Group hold 29% and 21% interests of the enlarged share capital of the Company, respectively.

Mr. LI Ming, Chief Executive Officer of Sino-Ocean Land, said: "We are very pleased to haveour largest shareholders' supportwhich enables the Company to optimize its capital structure. In the future, Sino-Ocean Land will not only be supportedon strategic level, but also benefit from their brandpower. Moreover, withtheir financial backing we should enjoy greater flexibility incapturingnew investment opportunities,we can alsorealize greaterprofit potentialsand drive robust growth of our operations so as to maximizeour shareholders' value."

Continuing optimization of land bank structure to strike portfolio balance

In 2013, the Group continued to cultivate existing markets and optimize its land bank structure. It replenished premier land bank with areas of more than 700,000 square meters in cities with stronggrowth potential, such as Beijing, TianjinandZhongshan. As at 31 December 2013, the Group possessed land bank with a total area of approximately 21mnsquare meters in 19 fast-growing cities at anaverage land cost of RMB3,300per square meter. It is sufficient for the Group's business requirements for the next 3-5years.

Mr. LI Mingadded,"In 2014, the Group will further optimize its land bank structure, gradually increase quality land bank for investment property development and enhance product mix so as to build up a balanced business portfolio in the medium and long term and drive steady business growth."

The Group acquiredthree new projects in Beijing year-to-date and replenished the land bank with a GFA of approximately 700,000square meters there at an average land cost of approximately RMB12,000per square meter. These three projects will increasethe Group's profit visibility.

Further enhancement of debtstructure to create a stronger financial position

By the end of 2013, the Group's interest-bearing borrowings were kept at aroundRMB35.3billion. During the Period, the Group continuedto optimize its debtstructure and thus reduced its finance costs by 40basis points to 7.3%when compared to a year ago.Meanwhile, the Group captured market opportunities to repurchasethe Perpetual Subordinated Convertible Securitieswith outstanding amount of US$900 millionin September 2013.

The cash collection ratio for 2013hovered around 90%, which was high when compared to the industry average. Net cash in-flow generated from operating activities reached RMB3.25billion. As at 31 December2013, the Group held cash of approximately RMB16billionwith approved but not used credit line of approximately RMB38billion. The strong financial position lays a solid foundation for its future development.