Property

CIFI Raised Full Year Contracted Sales Target by 20% to RMB 43.8 Billion

HONG KONG, July 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 the Group revised its full year contracted sales target by 20%, from RMB36.5 billion to RMB43.8 billion. Contracted sales for June 2016 increased 53% year-on-year to RMB4.49 billion, with the contracted GFA was approximately 164,600 sq.m

In June 2016, the Group's contracted ASP was RMB 27,300 per sq.m., up approximately107% year-on-year.

From January to June 2016, contracted sales of the Group increased 162% year-on-year to RMB27.59 billion with a contracted GFA of approximately 1,491,000 sq.m., while contracted ASP from January to June 2016 was approximately RMB18,500 per sq.m., up approximately 48% year-on-year. During the first six months of 2016, contracted sales of the Group achieved 63% of its full year contracted sales target of RMB43.8 billion.

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

By city

RMB (billion)

% of total

Shanghai

7.19

26.1%

Suzhou

7.10

25.7%

Hangzhou

3.55

12.9%

Beijing

2.97

10.8%

Nanjing

1.75

6.3%

Hefei

1.37

5.0%

Tianjin

1.35

4.9%

Wuhan

0.87

3.2%

Langfang

0.41

1.5%

Chongqing

0.34

1.2%

Shenyang

0.20

0.7%

Zhenjiang

0.19

0.7%

Jiaxing

0.18

0.6%

Changsha

0.12

0.4%

Land Acquisition

In June 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.)

Tianjin

Jinnan District
Jinnan No.
2015-07 Project

27%

Residential

67,726

121,908

116,100,000

3,527

Suzhou

Wujiang District
Taihu Lake New
City

100%

Residential

96,278

173,300

1,227,540,000

7,083

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