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Annual Summary

• Investment properties held as at the end of 2014 amounted to 1,140,000 sq m.

• Currently, the total area of commercial property under development and yet to be developed amounts to about 3.80 million sq m. Over 50% of this area will be completed by the end of 2017.

• Annual rental income was HK$1.18 billion.

• Increase in fair value of investment properties amounted to HK$5.17 billion,

mainly attributable to completed investment properties such as Beijing China

Overseas Plaza, Beijing China Overseas Property Building and Shenyang China

Overseas Plaza and investment properties under construction such as Zhuhai

China Overseas Plaza and Zhuhai China Overseas Building.

PROPERTY INVESTMENT (CONTINUED)

In November 2014, the commercial property business of China Overseas Property officially announced its China Overseas Grade A Office Cloud Business Brand Strategy as well as its strategic transformation from a traditional real estate property developer and operator to an integrated real estate operator. The cloud business which utilised the resources from China Overseas Grade A office buildings, their corporate tenants and their employees through the application of mobile internet technologies, with the aim to provide multi-dimensional value-added services such as daily life services for staff, corporate management services and corporate development services and to consolidate upstream and downstream business resources in the market.

“China Overseas” Grade A offices, located in Hong Kong and major cities in Mainland China, are typically urban business landmarks with superb quality, which are created by assembling top professional teams from China and abroad. Where a China Overseas Commercial Properties office tower stands, an urban business center will be developed. Underpinned by Grade A international standards, green features and innovative property services,

“China Overseas” Grade A offices are premium business properties that possess a strong future and serve as a benchmark in the local markets. Widely acclaimed by Global top 500 companies and other industry leaders,

“China Overseas” Grade A offices have become the gathering point for these top enterprises.

Originated in the early 1990s with China Overseas Building in Wanchai, Hong Kong as its first investment property, China Overseas Commercial Properties has now expanded to many cities with thriving economies, including Hong Kong, Beijing, Shanghai, Chengdu, Qingdao, Xi’an, Shenyang, Jinan, Zhuhai, Nanjing, Wuhan, Tianjin, Hangzhou, Foshan, Fuzhou and Taiyuan, owning projects with GFA of over 5,000,000 sq m. China Overseas Commercial Properties has consolidated its superior resources in commercial properties and included a diversified and comprehensive range of products to create premium commercial developments underpinned by three leading series: “China Overseas” Grade A offices, Unipark shopping malls and star-rated hotels. Meanwhile, the Group has also been participating in the exploration of the prospect of municipal charitable facilities operation.

In 2011, the global launch of the brands of Unipark shopping malls of China Overseas was successfully held to officially unveil the business scope of China Overseas Commercial Properties, which was to be focused on offices and shopping malls, while maintaining a reasonable exposure to hotel properties. The event represented the first publication of a clearly-defined strategic road map for the Group’s development in commercial properties.

The incorporation of 中海地產商業發展 ( 深圳 ) 有限公司 in Shenzhen in 2012 has signified not only a solid step towards the corporatised operation of the commercial property business of China Overseas, but also the Company’s transformation from a traditional real estate developer to an integrated real estate business operator. Hence it is an important strategic decision for the business setup of China Overseas Property.

PROPERTY INVESTMENT (CONTINUED)

The Unipark shopping malls of China Overseas, where all the smiling faces of the city come together, bring together a variety of retail attractions, meeting consumer needs for shopping, dining, entertainment, leisure, education and cultural activities under one roof. Unipark shopping malls create a convenient, accessible and resourceful spot for consumption, leisure and entertainment and a splendid platform for experiencing one-stop shopping in the city. Five major cities, namely, Jinan, Shenyang, Nanjing, Foshan and Zhuhai, have been selected for the opening of the first Unipark shopping malls. Jinan Unipark Shopping Mall was opened on 29 September 2013, while Shenyang Unipark Shopping Mall was opened in 2014. In the next two to three years, the Unipark shopping malls in Nanjing, Foshan and Zhuhai will also commence operation.

China Overseas Properties has always attached great importance to the development of commercial properties and is committed to the strategy of increasing the weighting of its investment properties. With the continuous development and operation of the China Overseas Commercial Properties, investment properties will be accounting for an increasing share in the Group’s overall property portfolio.

China Overseas Commercial Properties is committed to build a platform of cooperation for customers, partners and shareholders that would meet the development needs of various parties and facilitate ongoing growth in tenants’

value, shareholders’ value and brand value, with an aim to realise the vision of “co-generating wealth, sharing resources and winning the future together”.

The investment properties can provide the Group with stable income, the long-term goal of the Group is to derive more than 20% of its total profit from investment properties.

The Group is striving to develop a series of high-quality investment properties. Following the completion of investment properties such as Jinan China Overseas Plaza, Beijing China Overseas Building, Chengdu China Overseas International Center and Shenyang China Overseas Plaza in 2014, the Group held an aggregate of 1,140,000 sq m of investment properties in Hong Kong, Macau and mainland China. The overall occupancy rate of the Group’s investment properties was satisfactory. Total rental income for the year was HK$1.18 billion, representing an increase of 38.2% over 2013. Total rental income arising from Hong Kong and Macau amounted to HK$160 million, while that from the mainland amounted to HK$1.02 billion. Segment profit amounted to HK$6.03 billion, which included an increase in fair value of investment properties of HK$5.17 billion (net fair value gain after deferred tax is HK$3.85 billion).

PROPERTY INVESTMENT (CONTINUED)

Beijing China Overseas Building is located on the north side of Chang An Street Western Extension in Shijingshan District, Beijing adjacent to Shi Jing Shan Road on Chang An Street and is supported by convenient transportation network. The project is completed in December this year and offer GFA of approximately 70,000 sq m in 2 Grade A offices towers together with commercial facilities. Designed according to international Grade A standards, the building features a hexahedron-shaped façade adorned by clear and glittering glass curtain walls that mimics the noble and eternal of diamonds. The project is scheduled for pre-lease in mid-2015.

Chengdu China Overseas International Center Phase One and Phase Two continued to generate stable rental income for the Group on the back of high occupancy rates. Blocks F and G on the West Lot and Block J on the Renhe No. 39 Lot of China Overseas International Center, with a GFA of approximately 90,000 sq m and 60,000 sq m, respectively, are also completed in December this year. Moreover, 4 Grade A office towers in Chengdu are currently under development in different phases which are scheduled for completion by 2017 to bring GFA of approximately 490,000 sq m.

In Beijing, substantially all units of China Overseas Property Building, China Overseas Plaza and China Overseas Property Plaza are under lease, while there has been a notable increase in the rental income of China Overseas Plaza.

COMPLETED INVESTMENT