Property

CIFI's Contracted Sales for March 2016 Had Overwhelming Growth in Both Price and Volume

HONG KONG, April 6, 2016 /PRNewswire/ -- CIFI Holdings (Group) Co. Ltd. ("CIFI", or the "Group", HKEX Code: 884), one of the "Top 100 Real Estate Developers in China" is pleased to announce that contracted sales for March 2016 increased 264% year-on-year to RMB6.05 billion, reached a new record high.

In March 2016, the Group achieved contracted sales of approximately RMB 6.05 billion, reached a new record high. Contracted GFA was approximately 344,400 sq.m. with contracted ASP in March 2016 was RMB 17,600 per sq.m.

From January to March 2016, contracted sales of the Group increased 199% year-on-year to RMB11.06 billion with a contracted GFA of approximately 619,200 sq.m., while contracted ASP from January to March 2016 was approximately RMB17,900 per sq.m., up approximately 40% year-on-year. During the first quarter of 2016, contracted sales of the Group achieved 31% of its full year contracted sales target of RMB36.5 billion.

From January to March 2016, breakdowns of the Group's contracted sales were as follow:


By City

RMB (billion)

% of total

Suzhou

3.23

29.2%

Shanghai

3.12

28.2%

Hangzhou

1.57

14.2%

Beijing

0.85

7.7%

Hefei

0.78

7.1%

Tianjin

0.35

3.2%

Wuhan

0.33

3.0%

Nanjing

0.19

1.7%

Langfang

0.19

1.7%

Chongqing

0.14

1.3%

Shenyang

0.10

0.9%

Zhenjiang

0.10

0.9%

Changsha

0.06

0.5%

Jiaxing

0.05

0.4%

Yangtze River Delta

9.04

81.7%

Pan Bohai Rim

1.49

13.5%

Central Western Region

0.53

4.8%

Land Acquisition

In March 2016, the Group has successfully conducted the following acquisitions:

City

Project

Group's Current Equity Interest

Intended Primary Use

Site Area

(sq.m.)

Total Planned GFA Excluding Carpark (sq.m.)

Group's Attributable Consideration (RMB)

Average

Land Cost (RMB/

sq.m.)

Hangzhou

Yuhang District, Liangzhu New Town, No. 64 Project

35%

Residential

24,596

54,111

94,808,000

5,006

Shenyang

Shenhe Distrcit, Guangchang Road South Project

100%

Residential

5,340

15,487

62,680,000

4,047

Tianjin

Haihe Education Park No. 14 Project

25%

Residential

150,241

202,825

225,500,000

4,447

Major Financing Transactions

The Group signed club loan agreements for an unsecured US$600 million 3-year US dollar/Hong Kong dollar dual currency loan facility with an interest rate of LIBOR/HIBOR +4% per annum. Proceeds of the club loan will primarily be used for the early redemption on 15 April 2016 of the US$500 million offshore bonds due April 2018 with a coupon rate of 12.25%.

About CIFI Holdings (Group) Co. Ltd.

CIFI is headquartered in Shanghai and is amongst China's Top 30 Real Estate Developers. CIFI principally focus on developing high quality and end-users driven properties in first- and second-tier cities in China. CIFI's development projects cover various properties types including residential, office and commercial complexes. To learn more about the Company, please visit CIFI's website at: http://www.cifi.com.cn