Annual Results Presentation 28th Feb 2012 • 2011 ANNUAL RESULTS

• BUSINESS OVERVIEW

• OUTLOOK & STRATEGY

1 2011 ANNUAL RESULTS

2 2011 KEY FINANCIALS

Unit 2011 2010 Change

Turnover HK$ Million 5,165.7 3,512.9 47.0%

Gross Profit HK$ Million 2,995.6 1,563.0 91.7%

Net Profit HK$ Million 1,815.4 1,001.1 81.3%

Gross Margin Percentage % 58.0 44.5 13.5%

Net Margin Percentage % 35.1 28.5 6.6%

EPS HK cents 125.0 93.3 34.0%

DPS HK cents 5.0 10.0* n.a.

* Not restated, and not comparable with that in 2011.

3 SEGMENT TURNOVER AND RESULTS BREAKDOWN

Turnover (HK$ million) Results (HK$ million) Segment 2011 2010 Change 2011 2010 Change

Residential 4,995.9 3,398.7 47.0% 2,989.9 1,625.3 84.0% Property

Commercial 109.7 62.4 75.9% 445.3 388.9 14.5% Property

Others 60.1 51.9 15.9% 5.1 2.4 115.8%

Total 5,165.7 3,512.9 47.0% 3,440.4 2,016.5 70.6%

4 PROPERTY TURNOVER AND GROSS PROFIT BY CITIES

Property Property Property Turnover by Cities Gross City Turnover Profit (HK$ mn) (HK$ mn) Beijing 24.8% Guangzhou 62.7% Beijing 1,279.0 689.2 Hohhot 8.9% Jilin 3.6% Guangzhou 3,240.8 2,045.3 Property Gross Profit by Cities Hohhot 460.2 261.2

Beijing 23.0% Jilin 185.7 0.0 Guangzhou 68.3% Hohhot 8.7% Total 5,165.7 2,995.6

5 2011 KEY FINANCIALS

Unit 31/12/2011 31/12/2010 Change

Cash on Hand HK$ Million 2,826.4 2,228.0 26.9%

Shareholder’s HK$ Million 5,432.0 2,798.3 94.1% Equity

Net Gearing Percentage % 22.9 0.7 22.2%

ROE Percentage % 46.4 49.3 -2.9%

ROA Percentage % 11.9 9.9 2.0%

6 BUSINESS OVERVIEW

7 PROPERTY SALES IN 2011

Property Sales in Value Property Property Sales in Sales in City Value (HK$ GFA (‘000 Beijing 26.0% mn) Sq.m.) Guangzhou 51.5% Hohhot 15.8% Beijing 1,995.7 60.4 Jilin 6.7%

Guangzhou 3,958.7 132.4 Property Sales in GFA Hohhot 1,218.2 127.0

Beijing 16.2% Jilin 514.4 53.0 Guangzhou 35.5% Hohhot 34.1% Total 7,687.0 372.8 Jilin 14.2%

8 KEY PROJECTS

City Beijing City Hohhot City Jilin Project Lagoon Manner Project Royal East Project Royal Waterfront GFA*(m2) 200,200 GFA(m2) 225,100 GFA(m2) 169,500

City Yinchuan City Guangzhou City Hefei Project International Project The Oakwood Project The Great Hill Community GFA(m2) 220,400 GFA(m2) 399,200 GFA(m2) 2,319,800

* Attributable GFA to COGO, the same below.

9 PROJECTS COMPLETED FOR OCCUPATION IN 2011

GFA Completion City Project Name (‘000 Sq.m.)

Guangzhou Banyan Bay 142.8

Hohhot Glorious City 55.2

Jilin Royal East 45.6

Total 243.5

 A total of 3 projects were completed in 2011.  Total Gross Floor Area (GFA) completed for occupation was 243,500 m2.  Over 90% of the total saleable GFA m2 completed was sold by the end of 2011.

10 NEW LAND ACQUISITION

Attributable Land Total GFA Attributable Land Cost Year City Name of Project Interest Area (m2) (m2) GFA (m2) (RMB mn) Hohhot The Bund 100% 72,857 214,000 214,000 420.00

Jilin Royal Waterfront 100% 36,800 169,500 169,500 185.25

Hefei The Great Hill 100% 144,700 399,200 399,200 707.58

Nanning The Green Peak 100% 46,002 183,100 183,100 414.02 2011 Anning District Lanzhou 100% 75,900 315,522 315,522 570.00 Project Anning District Lanzhou 100% 16,797 70,210 70,210 139.50 Yintan Road Project Gaoxin District Hefei 60% 93,467 150,754 90,452 206.10 KD3-2 Project Total 486,523 1,502,286 1,441,984 2,642.45 Zhangjiang New Ganzhou 88% 351,094 1,402,047 1,233,801 973.24 District 2012 Total 351,094 1,402,047 1,233,801 973.24

11 CURRENT LANDBANK

Total Landbank: 7.85 million Sq.m.; Attributable Landbank: 6.49 million Sq.m.

Total GFA Total Attr. GFA Attr. City („000m2) % („000m2) %

1-Tier 1 Beijing 342.1 4.4% 292.1 4.5% Cities 3 2 Guangzhou 220.4 2.8% 220.4 3.4% 4

3 Jilin 224.7 2.9% 208.2 3.2% 1

4 Hohhot 877.1 11.2% 877.1 13.5% 5 9 5 Yinchuan 3,314.0 42.2% 2,319.8 35.7% 6 3-Tier 6 Hefei 550.0 7.0% 489.7 7.5% Cities 7 Guilin 348.0 4.4% 284.8 4.4% 10 8 Nanning 183.1 2.3% 183.1 2.8% 7 8 2 9 Lanzhou 385.7 4.9% 385.7 5.9%

10 Ganzhou 1,402.0 17.9% 1,233.8 19.0%

12 OUTLOOK & STRATEGY

13 OUTLOOK FOR 2012

While HPR policy has been Central bank’s pledge to meet launched in most cities within loan demand from first-time COGO’s network, influence to home buyers will serve as a the Group’s operation will be strong catalyst for the housing minimal even if the tightening market in third-tier cities where measures were to spread to rigid demand is expected. third-tier cities.

Opportunities and Challenges

Polices such as property tax Despite of robust economic collection are unlikely to be growth and steady expansion launched in third-tire cities in of high-income groups in third- near term and policy dynamics tier cities, middle and high end will remain lower in third-tier property supply in the local cities than in first-tier and market will remain scarce. second-tier cities.

14 STRATEGIES

Continue to expand with a prudential investment Aim to develop differentiated approach for an increasing and quality products more market share in third-tier suited to local market needs. cities.

Sustainable Growth

Adhere to the business philosophy on delivering Take risk prevention superior quality and carry out measures and sustain rapid strict internal control on land growth with a focus on sound purchase, development, finance management. sales and customer service.

15 GUIDANCE FOR 2012

2012 Guidance 2011 Actual

Net Profit 30% Growth 1,815.4 (HK$ Million)

Property Sales 10,000 7,687.0 (HK$ Million)

New Land Acquisition 3,000 1,502.3 (‘000 Sq.m. )

Project Completion 700 243.5 (‘000 Sq.m. )

16 Q&A Session Thanks DISCLAIMER

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