Cathay Associates Kejie advised Sino-OceanLand Limited (“Sino-Ocean Land”) on the public issuance of 2018 (Phase I)corporate bonds to qualified investors (this “Issuance”). On July 13, 2018,Sino-Ocean Land has been approved by China Securities Regulatory Commission forits public issuance of no more than RMB 2 billion corporate bonds to qualifiedinvestors. On July 27, 2018, Sino-Ocean Land completed the book-buildingprocess of this Issuance, with a scale of RMB 2 billion. The maturity of thisbond is 5 years, with an option for the issuer of adjusting coupon rate and anoption for the investors of selling back, at the end of the third year of thebond period and the coupon rate is 4.70%, it is the lowest interest rate forissuing corporate bonds in the real estate industry since 2018.

Concerning this Issuance, CCXR has ratedthe issuer a credit rating of “AAA” as well as the bonds a credit rating of“AAA”.

Guosen Securities Co., Ltd., UBS SecuritiesCo., Limited, China Securities Co., Ltd, Everbright Securities Co., Ltd wereappointed as Joint Lead Underwriter.

Cathay Associates Kejie team was led bymanaging partner He Jie and partner Li Xin.

Sino-Ocean Group Holding Limited("Sino-Ocean Group") was listed on the mainboard of the Hong KongStock Exchange on September 28, 2007. Cathay Associates Kejie team has alsoadvised Sino-Ocean Group on its US$0.2 billion private equity financing in2006, its US$ 1.7 billion IPO in 2007, its issuance of RMB 2.6 billionCorporate Bonds in 2009, its issuance of US$ 0.9 billion Perpetual SubordinatedConvertible Securities Callable in 2010, its issuance of US$0.4 billion PerpetualSubordinated Capital Securities Callable in 2011, its issuance of US$1.2billion Guaranteed Notes in July, 2014, its issuance of US$1.2 billion GuaranteedNotes in February, 2015, its issuance of RMB 15 billion Corporate Bonds in 2015and 2016., its issuance of RMB 10 billion Panda Bonds in 2017 and its issuanceof US$ 0.6 billion Subordinated Perpetual bonds in 2017, and its issuance of US$0.7billion in floating interest dollar bonds in 2018.