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, 4 May 2018, 5 November 2018, 29 April 2019, 3 May 2019, 1 November 2019, 30 April 2020, and 30 October 2020.

The Board of Directors of China Ouhua (“Board”) wishes to inform that there had been no progress and update on the land title ownership transfer to Yantai Fazenda Ouhua Winery Co., Ltd. (“Yantai Ouhua”) (“the Application”) since the announcement made on 30 October 2020. 

The Company has yet to receive any update on the Application from the local government departments i.e. Ministry of Housing and Urban-Rural Development (“MOHURD”), the Real Estate Registration Center as well as the Huangwu Subdistrict Office, Zhifu District, Yantai City. There was also no confirmation given by any of the government officer on the completion date of the Application. Thus, the Board is unable to ascertain the completion date of the Transfer.

China Ouhua will proactively follow up with the relevant government authorities of the PRC 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.