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英文翻译：The predecessor of China Overseas Hongyang Group Co., Ltd. is clamshell electric appliance industry (Group) Co., Ltd., which was founded in 1955 and listed on the stock exchange of Hong Kong in 1984. In March 2010, China Overseas Development Co., Ltd. (00688. HK) completed the acquisition of clamshell electric appliance industry (Group) Co., Ltd. and officially renamed it as China Overseas Hongyang Group Co., Ltd. (00081. HK). Founded in Hong Kong in 1979, China Overseas Development Co., Ltd. is the flagship enterprise of China Overseas Group Co., Ltd., a wholly-owned subsidiary of China Construction Engineering Corporation in Hong Kong. In August 1992, China overseas development was listed on the stock exchange of Hong Kong. With the enterprising spirit and scientific and rigorous management, China Overseas Hongyang develops directly, professionally and on a large scale. With a national brand focusing on quality, overseas Hongyang focuses on cities with investment value. In the first half of 2017, the property portfolio integrated and acquired by China Overseas Development Co., Ltd. ("China overseas development") in December 2016 was operated with satisfactory progress. While continuing the good sales momentum of last year, the group continued to strengthen its marketing efforts and hold promotional activities to further enhance property sales. In addition to accelerating sales, the group has also continued to improve the quality of property projects to meet customer needs. The Group continues to pay close attention to land absorption opportunities in the market, and purchases projects with reasonable returns in strict accordance with the principle of prudent investment to lay a solid foundation for sustainable development. In the first half of this year, the group expanded its business to Xining city with high growth potential, located in Qinghai Province, and successfully absorbed four lands in Hefei, Yancheng and Xining, with a total development area of 1197295 square meters (the group should occupy an area of 1197295 square meters). On June 30, 2017, the group and its associated companies and joint ventures owned a total land reserve of 17839500 square meters in the mainland, of which 559800 square meters were held by associated companies and joint ventures. However, the group's land reserve including associated companies and joint ventures is 16631300 square meters.. In the future, the business scope will continue to focus on the rising cities with investment value and development potential, and maintain its position in the medium and high-quality markets. In the city with investment value, we have developed a full range of targeted high-quality property products, including high-quality buildings of different types, areas and orientations, to meet the unique needs of different regions and customers. China Overseas Hongyang has formed a value chain system covering the whole process of real estate development, including real estate investment, planning and design, construction, marketing planning and after-sales service. In the future, the company will continue to rely on excellent management mode, a wide range of professionals, good quality, high-quality services, to give back to all stakeholders, including shareholders, investors, and all sectors of society.

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