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Disclosure

The following corporations each provided more than 5% of the total revenue to CCXAP in 2016:

SOHO China Limited

Longfor Properties Co.,Ltd

Beijing Capital Land Limited

Fantasia Holdings Group Co., Limited

KWG Property Holdings Limited

Zhongchengxin (HK) Investment Services Limited

The compensation received from Zhongchengxin (HK) Investment Services Limited is unrelated to CCXAP's credit rating services.