Reference is made to the previous announcements released on 18 December 2013, 9 May 2014, 6 May 2015, 14 May 2015, 9 May 2016, 20 April 2017, 28 April 2017, 6 October 2017, 5 April 2018 and 4 May 2018. Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the said announcements.

The Board of Directors of China Ouhua (“Board”) wishes to update that the land title ownership has yet to be transferred to Yantai Fazenda Ouhua Winery Co., Ltd. (“Yantai Ouhua”).

As the Land is a state-owned property, China Ouhua is still awaiting for the examination procedure and the approval on the Land by State-owned Assets Supervision and Administration Commission and the decision of the District Mayor Administration Meeting.

China Ouhua will proactively follow up with the relevant government authorities of the People's Republic of China to ensure the land title ownership is transferred to Yantai Ouhua.

Barring any unforeseen circumstances, the Board is of the view that the whole process should be able to complete within six (6) months from the date of this announcement.