Jimo Project is located in Jimo City of Qingdao. The project is a multi-purpose high-end property development project adjacent to the Qing-Rong intercity railway station, with the commercial and trading, hotel, service and residential functions and a station square as the development centre. The project has an aggregate site area of approximately 3,091 mu (equivalent to approximately 2,060,677 sq.m.), tentatively located to the east of Ma Shan Road, the west of Hua Shan Third Road, the south of Qing Wei Road and the north of Lan Ao Road, subject to the confirmation by the government authorities, and will involve the redevelopment of six villages of the Jimo City into the “Jimo Metropolitan”. The Group and the Jimo City People’s Government entered into a framework agreement in relation to the principles of the cooperation intention in May 2013. The Group entered into the Development Cooperation Agreement with the Jimo City People’s Government in September 2013.