Contact Information:
China Ceramics Co., Ltd.	CCG Investor Relations Inc.
Edmund Hen, Chief Financial Officer	Mr. Ed Job, CFA - Account Manager
Email: info@hengdatile.com	Email: ed.job@ccgir.com
	Mr. Bryan Blake, Sr. MI Executive
	Phone: +1-646-833-3416
	Email: bryan.blake@ccgir.com

Jinjiang, Fujian Province, China, June 1, 2010 –China Ceramics Co., Ltd. (OTC Bulletin Board: CCLTF, CCLWF, CCLUF) (“China Ceramics” or the “Company”), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced financial results for the first quarter ended March 31, 2010.

“We are pleased to report solid results in a seasonally weak quarter, to begin our fiscal year 2010 on a strong note,” said Mr. Jiadong Huang, Chief Executive Officer of China Ceramics. “Our growth was driven by our increased production capacity following the Gaoan plant acquisition in January, and from higher Average Selling Prices (“ASPs”), as we continued to benefit from a positive macro-economic environment in China.”

Revenue for the first quarter ended March 31, 2010 increased by 4.3% to RMB 229.1 million (US$ 33.5 million) compared to the fourth quarter ended December 31, 2009, and increased by 34.8% compared to the first quarter ended March 31, 2009. The year-over-year increase in revenue was primarily driven by a 26.3% increase in volume and a 6.6% increased in average selling price in the first quarter of 2010, compared with the same period in 2009. The sequential increase in revenue was driven by higher sales volume.

Gross profit was RMB 69.3 million (US$ 10.1 million) down 3.3% from RMB 71.7 million in the fourth quarter ended December 31, 2009, and up 50.7% from RMB 46.0 million for the three months ended March 31, 2009. Gross margin was 30.2% compared to 32.6% in the fourth quarter of 2009 and 27.1% for the same period last year. The sequential decrease in gross margin was driven by the reduction in production volume due to Spring Festival, resulting in higher unit cost; and the year-over-year increase in gross margin was mostly driven by the 34.8% growth in revenue and by management’s ability to limit growth in cost of sales to only 28.5% compared to the first quarter of 2009.

Administrative expenses were RMB 5.8 million (US$ 0.8 million), compared to RMB 2.7 million for the fourth quarter of 2009, and with RMB 2.6 million for the first quarter of 2009, resulting mainly from administrative expenses incurred for the newly acquired Gaoan facility and from legal and other expenses related to China Ceramics status as a public company.

Profit from operations for the first quarter ended March 31, 2010 was RMB 62.0 million (US$ 9.1 million), down 10.7% from RMB 69.4 million in the fourth quarter of 2009, and up 47.6% from RMB 42.0 million in the first quarter of 2009. The sequential decline in operating profits resulted from lower gross margin as well as higher administrative expenses. The year-over-year increase in profit from operations was the result of higher revenue and improved gross margin, only partially offset by higher operating costs.

Net profit for the first quarter ended March 31, 2010 was RMB 45.3 million (US$ 6.6 million), up 45.2% from the comparable period in 2009. The year-over-year increase in net profit was mainly driven by strong growth in revenue and by management’s ability to limit growth in cost of sales to only 28.5% compared to the same period of 2009, resulting in a 50.7% increase in gross profit in the first quarter 2010 compared to the same quarter in 2009. Net profit for the first quarter ended March 31, 2010 was up 74.5% compared to the fourth quarter of 2009. The sequential increase in net profit was mainly driven by the absence of one-time merger costs incurred in the fourth quarter of 2009, which offset a RMB2.4 million reduction in gross profit and RMB 3.1 million increase in administrative expenses in the first quarter of 2010.

Cash and bank balances were RMB 131.9 million (US$ 19.3 million), compared with RMB 150.1 million (US$ 22.0 million) as of December 31, 2009. The decrease in cash and bank balances was mainly due to the final payment of RMB 39 million (US$ 5.7 million) for the acquisition of the Gaoan facility in the first quarter of 2010;

Trade receivables turnover was 109 days as of March 31, 2010 compared with 102 days as of December 31, 2009. The increase in the trade receivables turnover days resulted form higher revenue for the first quarter of 2010 compared to the revenue for the fourth quarter of 2009. The increase in revenue in the first quarter of 2010 was due to the contribution of capacity from the newly acquired Gaoan facility. The Company’s trade receivables include a 17% value-added-tax (“VAT”), whereas its reported revenue is net of VAT. Trade receivables turnover excluding VAT amounts from both the numerator and denominator was 93 days as of March 31, 2010 compared with 87 days as of December 31, 2009.

Trade payables turnover was 79 days as of March 31, 2010 compared with 69 days as of December 31, 2009. The increase in the trade payables turnover resulted from the termination of production outsourcing arrangements with the Company’s Original Equipment Manufacturer (“OEM”) in the first quarter of 2010 after the newly acquired Gaoan facility significantly increased the Company’s manufacturing capacity. The credit period with the OEM was approximately 30 days compared to the credit period with other trade suppliers which is approximately 90 days.

The Company’s backlog of orders for delivery in the second quarter was at approximately RMB 285.94 million (US$ 41.8 million), representing a year-over-year revenue growth rate of 29.1% compared to the second quarter of 2009. The expected sales volume in the second quarter 2010 is approximately 10.6 million square meters representing a 21.9% increase from 8.7 million square meters sold in the first quarter of 2010.

“Despite recent efforts by the Chinese government to tighten monetary policy and contain excessive real estate prices in the so-called Tier-1 cities such as Beijing, Shanghai, Shenzhen, and Guangzhou, the outlook for our business remains stable. Our exposure to the Tier-1 cities was approximately 9.7% of our revenue in the first quarter of 2010 and we expect any weakness in the Tier-1 cities to be offset by continued demand growth in the Tier-2 and Tier-3 cities, driven by secular urbanization trends as well as by the government’s commitment to low-income housing,” said Mr. Huang. “We remain committed to the expansion of our Gaoan plant and expect to expand its capacity by 14 million squared meters by the end of 2010 at a cost of approximately $20 million.”

The Company will also host a conference call at 8:00 am ET on Tuesday, June 1, 2010. Listeners may access the call by dialing +1 (866) 672-3985 five to ten minutes prior to the scheduled conference call time. International callers should dial +1 (706) 902-4207. The conference participant pass code is 78094622. A replay of the conference call will be available for 14 days starting from 10:00 am ET on Tuesday, June 1, 2010. To access the replay, dial +1 (800) 642-1687. International callers should dial +1 (706) 645-9291. The pass code is 78094622.

China Ceramics Co., Ltd., formerly China Holdings Acquisition Corp., is a leading manufacturer of ceramic tiles in China. The company's ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics' products, sold under the Hengda or “HD” brand, are available in over 2000 styles, colors and sizes combinations and are distributed through a network of exclusive distributors or directly to large property developers. For more information, please visit http://www.hengdatile.com

The Company's financial information is stated in RMB. The translation of RMB amounts into United States dollars in the earning release is included solely for the convenience of readers and has been made at the rate of RMB6.8361 to US$1.00, the closing rate as of March 31, 2010 published on www.oanda.com. Such translations should not be construed as representations that RMB amounts could be converted into US dollars at that rate or any other rate, or to be the amounts that would have been reported under IFRS.

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2009 and otherwise in our SEC reports and filings, including the final prospectus for our offering. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

	Unaudited		Audited
	As at March 31, 2010		As at December 31, 2009
ASSETS AND LIABILITIES

Non-current assets
Property, plant and equipment		264,369		64,184
Land use rights		32,438		165
Goodwill		3,735		-
		300,542		64,349

Current assets
Inventories		144,345		114,658
Trade receivables		283,486		270,840
Prepayments and other receivables		5,976		149,268
Cash and bank balances		131,860		150,121
		565,667		684,887

Current liabilities
Trade payables		154,099		126,251
Accrued liabilities and other payables		55,180		74,749
Interest-bearing bank borrowings		55,000		26,500
Income tax payable		15,503		16,639
		279,782		244,139
Non-current liabilities
Long term borrowings		35,000		-
Deferred tax liabilities		1,078		-
		36,078		-

Net current assets		285,885		440,748

Net assets		550,349		505,097

EQUITY
Total shareholders’ equity		550,349		505,097

	Three months ended
	March 31			December 31			March 31
	2010				2009*			2009*

Revenue		229,110			219,716			169,911
Cost of Sales		(159,825	)		(148,043	)		(123,891	)
Gross profit		69,285			71,673			46,020
Selling and distribution expenses		(1,480	)		(1,889	)		(1,523	)
Administrative expenses		(5,783	)		(2,679	)		(2,576	)
Merger costs		-			(26,429	)		-
Finance costs		(1,497	)		(430	)		(208	)
Other income		16			2,307			66
Profit before taxation		60,541			42,553			41,779
Income tax expense		(15,291	)		(16,639	)	(10,611		)
Net Profit for the period		45,250			25,914			31,168
Attributable to:
Shareholders of the Company
EPS-Basic		4.45			3.36			5.43
EPS-Diluted		4.45			3.03			5.43
Shares used in calculating basic EPS
Basic		10,164,298			7,713,538			5,743,320
Diluted		10,164,298			8,557,205			5,743,320

In connection with the preparation of its financial statements for the year ended December 31, 2009, China Ceramics determined that it incorrectly applied IAS 18, Revenue and recorded sales rebates and discounts as selling and distribution expenses which resulted in an audit adjustment in revenue for the financial year ended December 31, 2009. Accordingly, the revenue of the first quarter and the fourth quarter of 2009 presented in this press release were restated from RMB 178.2 million and RMB 231.5 million to RMB 169.9 million and RMB 219.7 million respectively. The selling and distribution expenses were restated from RMB 9.8 million and RMB 13.7 million to RMB 1.5 million and RMB 1.9 million respectively.

	As at 31 March 2010
ASSETS AND LIABILITIES

Non-current assets
Property, plant and equipment		38,672
Land use rights		4,745
Goodwill		546
		43,963

Current assets
Inventories		21,115
Trade receivables		41,469
Prepayments and other receivables		874
Cash and bank balances		19,289
		82,747

Current liabilities
Trade payables		22,542
Accrued liabilities and other payables		8,071
Interest-bearing bank borrowings		8,046
Income tax payable		2,265
		40,924
Non-current liabilities
Long term borrowings		5,120
Deferred tax liabilities		158
		5,278

Net current assets		41,823

Net assets		80,508

EQUITY
Total shareholders’ equity		80,508

	Three months ended
	March 31
	2010

Revenue		33,515
Cost of Sales		(23,379	)
Gross profit		10,136
Selling and distribution expenses		(216	)
Administrative expenses		(846	)
Merger cost		-
Finance costs		(219	)
Other income		2
Profit before taxation		8,857
Income tax expense		(2,237	)
Net Profit for the period		6,620
Attributable to:
Shareholders of the Company
EPS-Basic		0.65
EPS-Diluted		0.65
Shares used in calculating basic EPS
EPS-Basic		10,164,298
EPS-Diluted		10,164,298

	Three months ended
	March 31		December 31		March 31
	2010		2009		2009

Sales volume (square meters)		8,798,307		8,569,919		6,965,934
Average Selling Price (in RMB/square meter)		26.0		25.6		24.4
Average Selling Price (in USD/square meter)		3.8		3.8		3.6