SOHO CHINA LIMITED SOHO中國有限公司 (Incorporated in the Cayman Islands with Limited Liability) (Stock Code: 410)

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. SOHO CHINA LIMITED SOHO中國有限公司 (incorporated in the Cayman Islands with limited liability) (Stock Code: 410) 2012 INTERIM RESULTS ANNOUNCEMENT • Achieved net profit attributable to equity shareholders of approximately RMB613 million during the Period, representing a decrease of approximately 65% compared with that of the same period of 2011; mainly due to no new completion of projects for booking and modest valuation gains on investment properties during the Period. Construction of Galaxy SOHO will be completed in the second half of 2012 and contract sales of the project will be booked as turnover after delivery • The Group had ample capital. As at 30 June 2012, the Group had cash and cash equivalent and bank deposits of approximately RMB9,199 million, and had undrawn loan amount of approximately RMB5,972 million • The Group’s gearing ratio was low. As at 30 June 2012, the Group had bank loans and convertible bonds of approximately RMB13,574 million and the net gearing ratio was approximately 20% • During the Period, the Group: (a) acquired SOHO Tianshan Plaza project, with a total GFA of approximately 172,208 square meters, at a total consideration of approximately RMB2.129 billion; and (b) completed the acquisition of the remaining 20% equity interest of the project company holding SOHO Fuxing Plaza • The Group intends to change its “build-sell” business model to the “build-hold” business model in order to capture the huge growth in rental and value for prime office buildings in Beijing and Shanghai. The Group currently intends to hold office and retail areas with a total GFA of approximately 1.5 million square meters from its projects as investment properties. Sales will become supplementary • The Board declared an interim dividend of RMB0.12 per share – 1 – The board of directors (the “Board”) of SOHO China Limited (the “Company”) announces the unaudited consolidated interim results of the Company and its subsidiaries (collectively, the “Group”) for the six months ended 30 June 2012 (the “Period”), which have been prepared in accordance with the Hong Kong Accounting Standard 34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants and the relevant provisions of the Rules (the “Listing Rules”) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). The 2012 interim results of the Group have been reviewed by the audit committee of the Company (the “Audit Committee”) and approved by the Board on 16 August 2012. The interim financial report is unaudited, but has been reviewed by the Company’s auditors, KPMG. For the six months ended 30 June 2012, the Group achieved a turnover of approximately RMB1,222 million, representing a decrease of approximately 54% compared with that for the same period of 2011, mainly due to no new completion of projects for booking during the Period. The gross profit margin was approximately 48%. Net profit attributable to equity shareholders of the Company for the Period was approximately RMB613 million, representing a decrease of approximately 65% compared with that for the same period of 2011. Core net profit (excluding valuation gains on investment properties) was approximately RMB233 million and the core net profit margin was approximately 19%. The Board declared an interim dividend of RMB0.12 per share for the six months ended 30 June 2012 to the shareholders of the Company whose names appear on the register of members on 7 September 2012 (2011 interim: RMB0.14 per share). – 2 – Consolidated income statement for the six months ended 30 June 2012 – unaudited Six months ended 30 June Note 2012 2011 RMB’000 RMB’000 Turnover 3 1,222,378 2,645,634 Cost of properties sold (640,869) (1,128,708) Gross profit 581,509 1,516,926 Valuation gains on investment properties 423,351 1,997,026 Other revenue and income 90,473 103,542 Selling expenses (54,056) (107,545) Administrative expenses (90,463) (79,119) Other operating expenses (63,846) (54,013) Profit from operations 886,968 3,376,817 Financial income 4(a) 272,123 234,846 Financial expenses 4(a) (195,950) (132,159) Share of profit of a jointly controlled entity 7 77,105 – Profit before taxation 4 1,040,246 3,479,504 Income tax 5 (397,590) (1,283,642) Profit for the period 642,656 2,195,862 Attributable to: Equity shareholders of the Company 612,575 1,750,143 Non-controlling interests 30,081 445,719 Profit for the period 642,656 2,195,862 Earnings per share (RMB) 6 Basic 0.118 0.337 Diluted 0.118 0.324 – 3 – Consolidated balance sheet at 30 June 2012 – unaudited At At 30 June 31 December Note 2012 2011 RMB’000 RMB’000 Non-current assets Investment properties 13,918,000 13,334,500 Property and equipment 685,228 688,140 Bank deposits 1,515,784 1,222,115 Interest in a jointly controlled entity 7 4,111,387 – Deferred tax assets 948,692 901,918 Total non-current assets 21,179,091 16,146,673 Current assets Properties under development and completed properties held for sale 27,966,452 23,428,529 Deposits and prepayments 3,233,950 5,066,025 Trade and other receivables 8 1,672,604 549,471 Bank deposits 1,809,699 2,582,919 Cash and cash equivalents 5,873,318 11,906,157 Total current assets 40,556,023 43,533,101 Current liabilities Bank loans 3,206,352 2,214,593 Sales deposits 15,931,019 13,198,710 Trade and other payables 9 3,166,040 1,949,503 Taxation 4,227,112 5,681,681 Total current liabilities 26,530,523 23,044,487 Net current assets 14,025,500 20,488,614 Total assets less current liabilities 35,204,591 36,635,287 – 4 – Consolidated balance sheet at 30 June 2012 – unaudited (continued) At At 30 June 31 December Note 2012 2011 RMB’000 RMB’000 Non-current liabilities Bank loans 8,317,951 9,422,836 Convertible bonds 2,049,643 1,986,897 Contract retention payables 223,086 276,677 Deferred tax liabilities 1,848,963 1,731,255 Total non-current liabilities 12,439,643 13,417,665 NET ASSETS 22,764,948 23,217,622 CAPITAL AND RESERVES Share capital 10 107,502 107,502 Reserves 21,653,043 21,615,261 Total equity attributable to equity shareholders of the Company 21,760,545 21,722,763 Non-controlling interests 1,004,403 1,494,859 TOTAL EQUITY 22,764,948 23,217,622 – 5 – 1 Basis of preparation This interim financial report of the Group has been prepared in accordance with the applicable disclosure provisions of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, including compliance with Hong Kong Accounting Standard (“HKAS”) 34 “Interim financial reporting”, issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”). The interim financial report has been prepared in accordance with the same accounting policies adopted in the 2011 annual financial statements, except for the accounting policy changes that are expected to be reflected in the 2012 annual financial statements. Details of these changes in accounting policies are set out in Note 2. The preparation of an interim financial report in conformity with HKAS 34 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses on a year to date basis. Actual results may differ from these estimates. 2 Changes in accounting policies The HKICPA has issued a few amendments to HKFRSs that are first effective for the current accounting period of the Group and the Company. Of these, the following developments are relevant to the Group’s financial statements: • Amendments to HKFRS 7, Financial instruments: Disclosures – Transfers of financial assets • Amendments to HKAS 12, Income taxes – Deferred tax: Recovery of underlying assets The Group has not applied any new standard or interpretation that is not yet effective for the current accounting period. The impacts of these developments are discussed below: – The amendments to HKFRS 7 require certain disclosures to be included in the annual financial statements in respect of all transferred financial assets that are not derecognised and for any continuing involvement in a transferred asset existing at the reporting date, irrespective of when the related transfer transaction occurred. However, an entity needs not provide the disclosures for the comparative period in the first year of adoption. The Group did not have any significant transfers of financial assets in previous periods or the current period which require disclosure in the current accounting period under the amendments. – Under HKAS 12 deferred tax is required to be measured with reference to the tax consequences that would follow from the manner in which the entity expects to recover the carrying amount of the asset(s) in question. In this regard, the amendments to HKAS 12 introduced a rebuttable presumption that the carrying amount of investment property carried at fair value under HKAS 40, Investment property, will be recovered through sale. This presumption is rebutted on a property- by-property basis if the investment property in question is depreciable and is held within a business model whose objective is to consume substantially all of the economic benefits embodied in the investment property over time, rather than through sale.

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