#1A 中原建业 CENTRAL CHINA MGT 股票代码 9982.HK 中原建业有限公司 Central China Management Company Limited 2022 ANNUAL RESULTS PRESENTATION 21 March 2023 -- A#2Disclaimer A中原建业 CENTRAL CHINA MGT This document has been prepared by CENTRAL CHINA MANAGEMENT COMPANY LIMITED (the "Company") solely for the use at this presentation held in connection with investor meetings and is subject to change without notice. The information contained in this presentation has not been independently verified. No representation or warranty, express or implied, is made and no reliance should be placed on the accuracy, fairness or completeness of the information presented. The Company, its affiliates, or any of their directors, officers, employees, advisers and representatives accept no liability whatsoever for any losses arising from any information contained in this presentation or otherwise arising in connection with this document. This presentation does not constitute or form any part of, and should not be construed as, an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction, and no part of this presentation shall form the basis of or be relied upon in connection with any contract or commitment. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the Company making the offer and its management and financial statements. No public offering of any securities is to be made by the Company in the United States. Specifically, this presentation does not constitute a "prospectus" within the meaning of the U.S. Securities Act of 1933, as amended. By accepting this document, you agree to maintain absolute confidentiality regarding the information contained herein. The information herein is given to you solely for your own use and information, and no part of this document may be copied or reproduced, or redistributed or passed on, directly or indirectly, to any other person (whether within or outside your organization/firm) in any manner or published, in whole or in part, for any purpose. The distribution of this document may be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. 2#3AGENDA 1. COMPANY OVERVIEW 2. BUSINESS OVERVIEW 3. BENCHMARK PROJECTS 4. STRATEGIC PRIORITIES A 中原建业 CENTRAL CHINA MGT A中原建业 CENTRAL CHINA MGT#4A 中原建业 股票代码 CENTRAL CHINA MGT 9982.HK 1. COMPANY OVERVIEW -- A#5Notes: FY2022 data A 中原建业 Leading Asset-light Project Management Company in Greater Central China Region No. of Projects Under Management Revenue 266 projects RMB 606mm GFA under Management 31.7 mm sq.m. mn Net Margin CENTRAL CHINA MGT 50.1% Industry #1 Net Profit RMB 303mn Full-year Dividend RMB 242mn 80% Dividend payout ratio Q Asset-light Business Model ماع High Net Margin High Dividend Deep Rooted in Greater Central China 5 сл#6Trends of Real Estate and Project management Industry A Three returns 1 Macro economy The Chinese economy gets back on track after COVID-19. 1 A 2 2 Real estate industry The real estate industry resumes its position as a pillar sector amid its recovery. 3 3 Development prospect 4 Rational expectations open up new avenues for positive development. Four trends A中原建业 CENTRAL CHINA MGT Industry logic The industry growth has shifted from investment driven, to investment + product driven, to product + demand driven Trend of project management industry Refined management leads the development of project management industry. Duty division along the value chain Duty division along the value chain, cooperation between the upstream and downstream, and efficient, fast integration of resources represent the general trend Digitalisation All-around building digitalisation will become the mainstream of the era. 6#7Our Business Model and Ecosystem Accurate positioning Quality network of design firms Capital investments from property owner Quality supplier network 3 2 Procurement management Contract Signing Feasibility Studies Design and Planning Deployed employees Proposal Formulation Due diligence and feasibility studies Project Initiation Cost control Cash flow management Budget management Bidding Management Execution an supervision Due diligence Assessments Construction Management & approvals Formulation of standards Risk management Key decision making A Quality contractor network A SALE Extensive marketing and sales channels Sales Management Project Final Acceptance Delivery Management Pricing proposals and sales training Quality control Customer satisfaction management A large number of property buyers who recognize "Jianye" () brand A中原建业 CENTRAL CHINA MGT 1 Customer Identification Research and screening HQ Referrals Repeat cooperation Property Management Services 5 M A 建业新生活 | 香港股票代码 CENTRAL CHINA NEW LIFE 9983.HK Property management services Regional Offices Deployed Employees 7#8The CCMGT City Partner Programme is a Major Innovation in Business Model Integrating advantageous resources, both sides share together, bear together, and win together The CCMGT City Partner Council (the Council) A 中原建业 CENTRAL CHINA MGT The first group of CCMGT city partners • Established in Dec 2022, the Council is the result of 7-year exploration for an asset-light development model in China Strategic partners • Promote urbanisation and social progress in Central China . Bring together like-minded city partners and promote cooperation among its members Leaders in the local market • As a innovation in business model, the City Partner Programme will be an important growth pole of CCMGT in the future. Connect resources, open up project and capital channels to members Build quality products and provide quality services for customers Enable the Company to rapidly expand its brand in the Greater Central China Area . Like-minded persons who share the corporate culture, values, and development concept of the company 8#9The City Partner Programme is an Important Growth Pole for CCMGT in the Future 13 10 200bn 10.7mn sq.m. A中原建业 CENTRAL CHINA MGT 1.5mn sq.m. RMB Strategic partners Joint ventures Assets under mgt Total contracted GFA Newly contracted GFA Selected from 190 partners Covered in 10 of • 18 cities in Henan Province Total company assets held by 13 city partners Data sources: Company, as of 31 December 2022 Note: 1.5mn sq.m. includes framework agreements • Total GFA contracted by 13 city partners . Total GFA contracted by 13 city partners on 10 January 2023 9#10Huge Headroom for Growth in China A 中原建业 CENTRAL CHINA MGT Future Growth Drivers • Demand for well-recognized brands Low Penetration and High Growth Potential Demand for • Demand for quality products Commercial Project Management Demand for Governmental • Demand for cost control Demand for higher profitability ~ RMB 13 tn 1 Contracted Sales of China's Residential Properties Policy support for public housing Policy support for urban renewal ~ RMB 6 tn' Contracted Sales from Non-Top 100 Property Developers Project • Management • Strong demand from LGFVS RMB109 bn 1 • Demand for Demand for NPL asset management Capital Project Management • Demand for professional property development management experience Sources: National Bureau of Statistics (NBS), China Index Academy, industry research, company disclosure Notes: 1. FY2022 data 2. Greentown Management (9979.HK) and Central China Management (9982.HK) 3. Estimate for 2021 in the Blue Paper for Agent Construction Industry Contracted sales of listed project management companies² 3 4.8% Penetration Rate in China 20-30% Penetration Rate in EU and US 10#11A 中原建业 CENTRAL CHINA MGT Highly Fit in Greater Central China Market as the Unparalleled Leader Greater Central China Area: 500kms Radius, Centred in Zhengzhou Highly Fit in Greater Central China Market Heilongjiang Jilin Xinjiang Gansu InnerMongolia Liaoning Beijing Hebei Radiusof500km Ningxia Qinghai Shanxi Shandong Shaanxi Jiangsu Henan Tibet Shanghai Anhui Hubei Sichuan Zhejiang Guizhou Yunnan Hunan Jiangxi لحمة GuangxiGuangdong Hainan Fujian Taiwan High Market Potential • Strong Demand • Greater Central China Region features low urbanisation rate, high population density and rapid economic growth Small and medium-sized project owners are major players in Greater Central China Region • LGFVS & AMC's strong demand for project management diusof500km CCMGT has rooted in Greater Central China Region for 30 years Market Expertise • CCMGT has deep knowledge of market needs and compatible product system South China Sea The company has made presence in 8 provinces (Henan, Hainan, Xinjiang, Shaanxi, Shanxi, Anhui, Hebei and Inner Mongolia) Data sources: NBS, China Index Academy, World Bank Strong Competitiveness • • Low penetration rate of branded real estate developers in lower tier cities CCMGT has strong competitive advantage in Greater Central China Region Small • Administrative 2-hour bullet train economic circle, featuring a small administrative radius Radius 11#12Continuing Expansion Outside Henan FY2022 Expansion Outside Henan A 中原建业 Key Metrics (Outside Henan) Heilongjiang No. of Projects Jilin Shanghai under Management GFA under Management Contracted Sales 25 2.6 mn sq.m. RMB 1.7 bn CENTRAL CHINA MGT Xinjiang Gansu InnerMongolia Liaoning Beijing Hebei Ningxia Qinghai Shanxi Shandong Jiangsu Shaanxi Henan Tibet Anhui Hubei Sichuan Zhejiang Hunan Jiangxi Fujian Guizhou Yunnan Guangxi Guangdong Taiwan Hainan 8 provinces with presence: Henan, Hainan, Xinjiang, Shaanxi, Shanxi, Anhui, Hebei and Inner Mongolia Notes: 1. It is the proportion of GFA under management outside Henan in the total GFA under management during the period ラ 1 8.3% % of GFA Under Management 12#13Outstanding Performance in Delivery (in 2022) -4.3mn sq.m. Delivered GFA - 32,000 flats Delivered flats - 8,600 flats Delivered ahead of schedule A 中原建业 Delivered GFA in 2022 on par with those in 2021 • Tightened monitoring management Timely identify and solve the problems in project management • Comprehensive budget management Ensure the security of project funds through real-time monitoring Innovative delivery management - 7,500 flats Received licenses upon delivery Control delivery risks and enhance the quality of delivery services CENTRAL CHINA MGT 13#14Brand honours A中原建业 CENTRAL CHINA MGT W Chinese Outstanding Project Management Real Estate Company in 2022 March 2022 China Enterprise Evaluation Association, Institute of Real Estate Studies of Tsinghua University Information Technology Research Institute of Beijing China Index Academy Leading Brand of China Real Estate Project Management Companies in 2022 September 2022 China Enterprise Evaluation Association, Institute of Real Estate Studies of Tsinghua University Information Technology Research Institute of Beijing China Index Academy ☆ Chinese Outstanding Project Management Real Estate Company in 2023 March 2023 China Enterprise Evaluation Association, Institute of Real Estate Studies of Tsinghua University Information Technology Research Institute of Beijing China Index Academy 14#15A 中原建业 股票代码 CENTRAL CHINA MGT 9982.HK 2. BUSINESS OVERVIEW -- A#16Revenue, Net Profit & Dividend (RMB mn) 1,301 Revenue 606 Net Profit & Net Margin Dividend (RMB mn) Net Margin 59.2% 50.1% 770 303 2021 2022 2021 2022 Full-year Dividend Amount ~RMB 242 mn A中原建业 CENTRAL CHINA MGT 80% ■ Dividend payout ratio Accumulated dividend amount since IPO ~RMB 743 mn 16#17Key Operating Data A 中原建业 CENTRAL CHINA MGT CAGR: +11.5% GFA Under Management (mn sq.m.) No. of Projects Under Management (No. of projects) CAGR: +29.1% Contracted Sales 25.5 31.7 31.0 206 261 266 ill 34.3 40.3 21.3 2020 2021 2022 2020 2021 2022 2020 2021 2022 17#18A 中原建业 股票代码 CENTRAL CHINA MGT 9982.HK 3. BENCHMARK PROJECTS -- A#19Yun Jing Project in Nanyang City, Henan Province The highest-quality project with the highest value in Nanyang RMB 980mn Sold out in the first launch RMB350mn Contracted sales in 2022 TOP1 in Nanyang sales market for the past three years 19#20RMB 360mn Contracted sales in 2022 Xin Zhu Project in Yucheng County, Henan Province A top seller in Yucheng County with the forward-looking design concept of resort-style waterfront apartments. NANANANAKA KAFIA HHHHHE Note: 1. Proportion of sales of the project to sales of commercial properties in Yucheng County in 2022 20% Market share in Yucheng County¹ TOP 1 in Yucheng County sales market 20 20#21Bin He Xin Zhu Shang Jun Project in Shangqiu City, Henan Province A flagship project along the Riyue River, the first personal tailored project in Shangqiu. RMB 450mn Contracted sales in Jan-Feb 2023 25% Market share in the Riyue River district¹ 1st 建业 滨河 新筑 上郡 Personal tailored project in Shangqiu Note: 1. Proportion of sales of the project to sales of commercial properties in the Riyuehe district, Shangqiu in 2022 21#22A 中原建业 股票代码 CENTRAL CHINA MGT 9982.HK 4. STRATEGIC PRIORITIES -- A#23Strategic Business Expansion A 中原建业 CENTRAL CHINA MGT Governmental project management Cooperate with LGFVS and increase the proportion of governmental project management business Capital project management Focus on the opportunities of non- performing assets and deliver benchmark projects Project management 3.0 Commercial project management Continue to expand commercial project management by building long-term mechanism Project management 2.0 Project management 1.0 23 3#24Strong Demand for Commercial Project Management Brand As sales of commercial housing declined in 1H2022, small and medium-sized property developers have increasing demands of well recognized brands. Cost For the high cost and shrinking profit across the real estate sector, small and medium-sized property developers have growing demands of the cost control capabilities. Management In the tightened financing environment, some lands are transferred to the owners without property development experience, who demand for professional management capabilities. A 中原建业 CENTRAL CHINA MGT 24#25Rising Demand for Governmental Project Management A 中原建业 CENTRAL CHINA MGT Most land supply went to LGFVs Nearly 2/3 of the land supply across Henan in 2022 went to LGFVs. Land Auctioned Across Henan in 2022 • Traditional developers focus on large cities Facing the changes in real-estate industry, developers preferred to acquire land in large cities LGFVS needs project management services LGFVS need to revitalize their land reserve, who lack professional development teams Category Land Supply Across Henan in 2022 Areas of Sold Land (in mu, a unit of area corresponding to 1/15 hectare) Percentage Local Private Developers 31,317 66.5% LGFVs 14,584 31.0% Others 1,127 2.5% Total land supply 47,121 100% Notes: 1. Other including private developers across Henan, private developers across China, and SOES. Data sources: landchina.com, henantudiwang.com, and company data 25#26Explore Innovative Modes of Cooperation with LGFVs A中原建业 CENTRAL CHINA MGT CCMGT Has Entered into Strategic Partnership with LGFVS/SOEs in 13 Cities Explore New Growth Model Increase the proportion of government project management business step by step Sanmenxia Luoyang Nanyang Anyang Hebi Xinxiang Jiaozuo Puyang Zhengzhou Kaifeng Shangqiu Xuchang Pingdingsha Luohe Strategic cooperation agreements already signed Strategic cooperation agreements to be signed No related plan for now | • Establish Strategic Cooperation with LGFVs Explore diverse ways to collaborate with government-backed platform companies Achieve Win-Win Cooperation Allow superior resources of urban construction investment companies and outstanding management capabilities of the Company to be used to greatest effect Strategic cooperation with 15 LGFVs A • Reached the intent to collaborate with 8 SOES 中原建业 CENTRAL CHINA MGT • Signed 1 management consulting project ラ 26#27Capital Project Management Business Emerges as a New Growth Pole A中原建业 CENTRAL CHINA MGT 88 ¥ NPL presents demand for project management business The 'ensure the delivery of housing projects' policy brings new opportunities for project management business E BALON GARAGE Separation between capital and property development represents an trend of the real estate industry In August 2022, a bailout fund sized RMB10 billion was set up in Zhengzhou City to exclusively finance the construction of the distressed housing projects. Lacking of professional development & operation team, the fund may need project management company to fill this gap. 27#28Focus on Capital Project Management Opportunities BOC, ICBC, ABC & CCB's NPL Balance - Property Sector AMC Pain Points A 中原建业 CENTRAL CHINA MGT (RMB bn) Limited of Development Capabilities 110 + Geographical Limitations 2021 Source: Annual Reports of BOC, ICBC, ABC, CCB Need for Product Capabilities and Brand Name To realize win-win cooperation with AMCS GT 河南资产管理有限公司 HENAN ASSET MANAGEMENT CO., LTD A 中原建业 CENTRAL CHINA MGT • CCMGT signed a strategic cooperation agreement with Henan AMC I • As of now, we have cooperated with Henan AMC by Changge Longxifu Project and Zhoukou wanyuda project 28#29A 中原建业 CENTRAL CHINA MGT 股票代码 9982.HK APPENDIX -- A#30Condensed Statement of Profit and Loss (RMB mn, unless otherwise stated) A 中原建业 CENTRAL CHINA MGT 2022 2021 Revenue Other income 605.7 1,301.4 35.6 34.9 -Staff costs (123.1) (196.9) -Other operating expenses (58.7) (72.3) -Listing expenses & other expenses (55.9) (54.2) Profit before taxation 403.6 1,012.9 -Income tax (100.1) (242.7) Net profit 303.5 770.2 Net margin 50.1% 59.2% 30#31Condensed Balance Sheet (RMB mn, unless otherwise stated) A 中原建业 CENTRAL CHINA MGT Total assets 2,693.4 2022 2021 2,895.0 Non-current assets 42.7 50.6 Current assets 2,650.8 2,844.5 -Contract assets 425.0 300.5 -Trade and other receivables 661.1 568.2 -Cash and cash equivalents 1,564.6 1,975.8 Current liabilities 514.9 573.8 -Trade and other payables 116.2 128.3 -Contract liabilities 292.0 393.2 -Other current liabilities 106.7 52.3 Non-current liabilities 0.6 1.6 Net assets 2,177.9 2,319.6 31#32■ ■ 谢谢 Thank You A