Gemdale (Group) Hunan Real Estate Co., Ltd.

Gemdale Corporation was founded in Shenzhen, China in 1988, began operating real estate business in 1993, and was listed on the Shanghai Stock Exchange in 2001 (600383.SH), making it one of China's earlier listed real estate enterprises to achieve a nationwide layout. Its current businesses include residential development and sales, commercial real estate development and sales as well as holding and operation, real estate finance, property services and community operations, and the operation of sports industry clusters centered on tennis. Its developed and held residential and commercial real estate projects cover 7 major regions and 54 cities in China (data as of August 28, 2019), and it also covers 6 different cities and regions along the East and West Coasts of the United States, with 13 projects. In 2018, Gemdale achieved real estate sales of approximately RMB 162.3 billion, with sales area of approximately 8.778 million square meters; as of the end of 2018 (the annual report reporting period), its land reserve was approximately 44 million square meters, total assets were approximately RMB 278.4 billion, and net assets attributable to shareholders were approximately RMB 46.5 billion.