A message to shareholders

Dear shareholder,

International equity markets have exhibited impressive strength in 2017, making a remarkable comeback following a multi-year period of underperformance relative to U.S. stocks. Most developed- and emerging-market indexes have outperformed this year, and some have recently climbed to all-time highs. Results have been almost equally impressive in the U.S. market, as evidenced by the highs set by the Dow Jones Industrial Average, the S&P 500 Index, and the NASDAQ Composite Index.

Corporate earnings and consumer spending have been rising across most of the globe, leading many economists to upgrade their forecasts of GDP growth across developed and emerging markets alike. This synchronized global growth has been a positive catalyst for investor sentiment and the appetite for risk, providing plenty of lift for equities.

While a majority of the asset managers in our network believe international stocks have the potential to extend their recent gains, investors have reason to be vigilant. Stocks rarely climb for extended periods without a few setbacks along the way, and valuations can at times become overextended when rising equity prices get ahead of earnings growth.

Maintaining a globally diversified portfolio of stocks, bonds, and alternatives, alongside a disciplined investment program, is one approach that has stood the test of time. As always, your best resource to prepare for any market condition is your financial advisor, who can help ensure your portfolio is sufficiently diversified to meet your long-term objectives and to withstand the inevitable disappointments that can interrupt any market rise.

On behalf of everyone at John Hancock Investments, I'd like to take this opportunity to welcome new shareholders and to thank existing shareholders for the continued trust you've placed in us.

Sincerely,

Andrew G. Arnott
President and Chief Executive Officer
John Hancock Investments

This commentary reflects the CEO's views, which are subject to change at any time. Investing involves risks, including the potential loss of principal. Diversification does not guarantee a profit or eliminate the risk of a loss. It is not possible to invest directly into an index. For more up-to-date information, please visit our website at jhinvestments.com.

Your fund at a glance

INVESTMENT OBJECTIVE

The fund seeks long-term capital appreciation.

AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/17 (%)

The MSCI Golden Dragon Index (gross of foreign withholding taxes on dividends) is an unmanaged free float-adjusted market-capitalization-weighted index that is designed to measure equity market performance in the China region. The MSCI Golden Dragon Index captures the equity market performance of large and mid-cap China securities and non-domestic China securities listed in Hong Kong and Taiwan.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.

The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund's objectives, risks, and strategy, see the fund's prospectus.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 2

PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS

China region stocks surged

Improving global economic conditions, a recovery in commodity prices, and strengthening corporate earnings led to a robust rally for stocks in the Greater China region.

The fund posted a strong absolute return

The fund's return outpaced that of its benchmark, the MSCI Golden Dragon Index.

Stock selection in certain sectors added value

Stock selection in the information technology and utilities sectors added the most value.

SECTOR COMPOSITION AS OF 10/31/17 (%)

A note about risks

Foreign investing has additional risks, such as currency and market volatility and political and social instability. Investments in the Greater China region are subject to special risks, such as less developed or less efficient trading markets, restrictions on monetary repatriation and possible seizure, nationalization, or expropriation of assets. The fund may invest in initial public offerings, which are frequently volatile. The stock prices of midsize and small companies can change more frequently and dramatically than those of large companies. The fund is non-diversified and may invest its assets in a small number of issuers. Performance could suffer significantly from adverse events affecting these issuers. A fund concentrated in one sector or that holds a limited number of securities may fluctuate more than a fund that invests in a wider variety of sectors or securities. Derivatives transactions, such as hedging and other strategic transactions, may increase a fund's volatility and could produce disproportionate losses, potentially more than the fund's principal investment. Please see the fund's prospectus for additional risks.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 3

Discussion of fund performance

An interview with Portfolio Manager Kai-Kong Chay, CFA, John Hancock Asset Management a division of Manulife Asset Management (North America) Limited

Kai-Kong Chay, CFA
Portfolio Manager
John Hancock Asset Management

Can you provide an overview of the stock market environment in the Greater China region during the 12 months ended October 31, 2017?

It was a very strong period of performance for stocks in the Greater China region. After declining in late 2016 amid trade protectionism concerns following the U.S. presidential election, China region stocks rebounded substantially in 2017, as corporate earnings enjoyed an upward revision trajectory and global economic conditions improved. The market also benefited from the Shenzhen-Hong Kong Stock Connect following its debut in late 2016.

For the period, the fund's benchmark, the MSCI Golden Dragon Index, returned 32.83%. Within the index, Chinese stocks posted the strongest returns, as higher commodity prices and a strengthening real estate sector helped the Chinese economy reverse its declining growth rate. Stocks in Taiwan also performed well, led by the information technology sector, where component makers and semiconductor manufacturers benefited from a new iPhone production cycle. In Hong Kong, gaming stocks led the overall advance, benefiting from a recovery in Macau, Asia's largest gaming destination.

How did the fund perform during the period?

The fund produced a robust return and outperformed its benchmark. The fund is managed using a bottom-up stock selection process that emphasizes stocks with favorable growth prospects, recognized catalysts for change, and attractive valuations. This focus on individual stock selection was a key component of the fund's outperformance for the period.

Geographically, stock selection added value across all three markets represented in the portfolio. On a sector basis, stock selection added the most value in the information technology and utilities sectors.

Can you give some examples of fund performance contributors?

In the information technology sector, the leading contributors were Chinese social media company Weibo Corp. and Taiwanese electronic components manufacturer Yageo Corp., both of which more

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 4

"... China region stocks rebounded substantially in 2017, as corporate earnings enjoyed an upward revision trajectory and global economic conditions improved."

than doubled their share prices during the reporting period. Weibo, which has been dubbed the Twitter of China, reported consistently strong active user growth, which made the company's social media platform more attractive to advertisers. As a result, Weibo's revenue and earnings growth accelerated during the period.

Yageo makes passive components for low- to mid-priced smartphones. The newest version of the iPhone required more high-end components, and a shift by other component producers to these higher-end products led to a production shortage among lower-end components. Yageo was able to increase production to meet the demand in this segment and gained some pricing power in the process, enabling the company to exceed sales and earnings expectations.

The top contributor among the fund's holdings in the utilities sector was natural gas distributor China Gas Holdings, Ltd., which was added to the portfolio during the last half of the period at an attractive valuation level. As part of government-subsidized pollution control efforts in Beijing, coal-burning plants are being replaced by natural gas for residential heating, and China Gas was a major beneficiary of this trend.

What portfolio holdings detracted from performance compared with the benchmark?

Given the selective nature of the portfolio and the strong performance of stocks across the Greater China region, the fund missed out on some of the best performers in the index. For example, the fund did not own small-cap property developer China Evergrande Group, as the team saw better growth visibility in the information technology sector. Its stock soared by nearly 500% during the period as the company benefited from surging growth in its property markets. An underweight position in electronic components maker Hon Hai Precision Industry Co., Ltd., a major iPhone supplier, also detracted from performance versus the index.

COUNTRY COMPOSITION AS OF 10/31/17 (%)

China 51.1

Taiwan 23.9

Hong Kong 22.1

United States 1.1

United Kingdom 1.0

Other assets and liabilities, net 0.8

TOTAL 100.0

As a percentage of net assets.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 5

"Another portfolio theme is pollution control, which is a major priority in China's largest cities, as the government seeks to balance constructive economic policies with an improved quality of life."

Among the fund's overweight positions, the most significant detractors were Taiwanese electronic components maker Tung Thih Electronic Co., Ltd. and offshore drilling services provider China Oilfield Services, Ltd. Tung Thih makes components used in vehicles, and the stock declined as the company faced increasing competitive challenges from mainland China manufacturers, leading us to eliminate the stock from the portfolio. Despite volatile but generally higher oil and gas prices, China Oilfield Services struggled with a slow recovery in offshore drilling activity.

How was the portfolio positioned at the end of the reporting period?

Technology remains a major theme in the portfolio, with information technology representing the fund's largest sector weighting and most significant sector overweight compared with the index. We expect to see continued strength in demand for electronic components, not only from current products such as wireless devices, but also from potential new developments in automation, such as self-driving vehicles and artificial intelligence. Further growth in social media platforms should be beneficial for the fund's information technology holdings as well.

Another portfolio theme is pollution control, which is a major priority in China's largest cities, as the government seeks to balance constructive economic policies with an improved quality of life. We

TOP 10 HOLDINGS AS OF 10/31/17 (%)

Tencent Holdings, Ltd. 9.8

Alibaba Group Holding, Ltd., ADR 8.5

Taiwan Semiconductor Manufacturing Company, Ltd. 7.0

China Construction Bank Corp., H Shares 3.6

Ping An Insurance Group Company of China, Ltd., H Shares 3.5

AIA Group, Ltd. 3.5

Industrial & Commercial Bank of China, Ltd., H Shares 3.4

Baidu, Inc., ADR 2.6

Weibo Corp., ADR 2.1

CNOOC, Ltd. 1.7

TOTAL 45.7

As a percentage of net assets.

Cash and cash equivalents are not included.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 6

continue to favor natural gas distributors, which should benefit from the shift away from coal as an energy source.

Although the fund continues to have a sizable position in financial stocks, it is still an underweight compared with the index. We remain selective in the sector as some Chinese financial companies are struggling with asset quality and deleveraging conditions that are affecting their profitability.

Overall, we maintain a positive outlook for stocks in the Greater China region. Earnings continue to be healthy, but momentum may moderate in 2018 after robust growth in 2017. Despite the year-to-date market rally, valuations remain compelling, and the market still offers decent upside potential in our view. Although there are potential external risks, including heightened tensions with North Korea and a renewal of protectionist trade rhetoric, we believe the Chinese economy remains on a solid path to long-term structural growth, and equity markets in the region are poised to benefit.

MANAGED BY

Kai-Kong Chay, CFA
On the fund since 2011
Investing since 1997

Ronald Chan, CFA
On the fund since 2011
Investing since 1995

The views expressed in this report are exclusively those of Kai-Kong Chay, CFA, John Hancock Asset Management, and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund's investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 7

A look at performance

TOTAL RETURNS FOR THE PERIOD ENDED OCTOBER 31, 2017

Average annual total returns (%)
with maximum sales charge Cumulative total returns (%)
with maximum sales charge

1-year 5-year 10-year 5-year 10-year

Class A 28.00 10.78 0.10 66.85 1.01

Class B 28.68 10.76 -0.17 66.66 -1.65

Class C 32.66 11.03 -0.17 68.73 -1.65

Class I¹ 35.09 12.34 0.83 78.92 8.61

Class NAV¹ 35.17 12.39 1.15 79.35 12.07

Index^† 32.83 11.23 3.01 70.26 34.47

Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5%, and the applicable contingent deferred sales charge (CDSC) on Class B and Class C shares. The Class B shares' CDSC declines annually between years 1 to 6 according to the following schedule: 5%, 4%, 3%, 3%, 2%, 1%. No sales charge will be assessed after the sixth year. Class C shares held for less than one year are subject to a 1% CDSC. Sales charges are not applicable to Class I and Class NAV shares.

The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

Class A Class B Class C Class I Class NAV

Gross (%) 1.86 2.56 2.56 1.55 1.44

Net (%) 1.72 2.42 2.42 1.34 1.30

Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.

The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund's current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800-225-5291 or visit the fund's website at jhinvestments.com.

The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund's performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.

†	Index is the MSCI Golden Dragon Index.

See the following page for footnotes.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 8

This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Greater China Opportunities Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we've shown the same investment in the MSCI Golden Dragon Index.

Start date With maximum
sales charge ($) Without
sales charge ($) Index ($)

Class B² 10-31-07 9,835 9,835 13,447

Class C² 10-31-07 9,835 9,835 13,447

Class I¹ 10-31-07 10,861 10,861 13,447

Class NAV¹ 10-31-07 11,207 11,207 13,447

The MSCI Golden Dragon Index (gross of foreign withholding taxes on dividends) is an unmanaged free float-adjusted market capitalization index that is designed to measure equity market performance in the China region. The MSCI Golden Dragon Index captures the equity market performance of large and mid-cap China securities and non-domestic China securities listed in Hong Kong and Taiwan.

It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.

Footnotes related to performance pages

1	For certain types of investors, as described in the fund's prospectuses.
2	The contingent deferred sales charge is not applicable.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 9

Your expenses

These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds.

Understanding fund expenses

As a shareholder of the fund, you incur two types of costs:

•	Transaction costs, which include sales charges (loads) on purchases or redemptions (varies by share class), minimum account fee charge, etc.
•	Ongoing operating expenses, including management fees, distribution and service fees (if applicable), and other fund expenses.

We are presenting only your ongoing operating expenses here.

Actual expenses/actual returns

The first line of each share class in the table on the following page is intended to provide information about the fund's actual ongoing operating expenses, and is based on the fund's actual return. It assumes an account value of $1,000.00 on May 1, 2017, with the same investment held until October 31, 2017.

Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at October 31, 2017, by $1,000.00, then multiply it by the "expenses paid" for your share class from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:

Hypothetical example for comparison purposes

The second line of each share class in the table on the following page allows you to compare the fund's ongoing operating expenses with those of any other fund. It provides an example of the fund's hypothetical account values and hypothetical expenses based on each class's actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund's actual return). It assumes an account value of $1,000.00 on May 1, 2017, with the same investment held until October 31, 2017. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectuses for details regarding transaction costs.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 10

SHAREHOLDER EXPENSE EXAMPLE CHART

Account
value on
5-1-2017 Ending
value on
10-31-2017 Expenses
paid during
period ended
10-31-2017¹ Annualized
expense
ratio

Class A Actual expenses/actual returns $1,000.00 $1,274.20 $9.11 1.59%

Hypothetical example for comparison purposes 1,000.00 1,017.20 8.08 1.59%

Class B Actual expenses/actual returns 1,000.00 1,268.40 13.72 2.40%

Hypothetical example for comparison purposes 1,000.00 1,013.10 12.18 2.40%

Class C Actual expenses/actual returns 1,000.00 1,268.90 13.78 2.41%

Hypothetical example for comparison purposes 1,000.00 1,013.10 12.23 2.41%

Class I Actual expenses/actual returns 1,000.00 1,275.20 7.68 1.34%

Hypothetical example for comparison purposes 1,000.00 1,018.50 6.82 1.34%

Class NAV Actual expenses/actual returns 1,000.00 1,275.80 7.40 1.29%

Hypothetical example for comparison purposes 1,000.00 1,018.70 6.56 1.29%

1	Expenses are equal to the fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 11

Fund’s investments

AS OF 10-31-17

	Shares	Value
Common stocks 99.2%		$63,370,447
(Cost $39,982,447)
China 51.1%		32,679,909
Alibaba Group Holding, Ltd., ADR (A)	29,486	5,451,667
Baidu, Inc., ADR (A)	6,872	1,676,356
China Animal Healthcare, Ltd. (A)(B)	1,590,000	2,038
China Construction Bank Corp., H Shares	2,539,000	2,269,144
China Life Insurance Company, Ltd., H Shares	142,000	470,773
China Literature, Ltd. (A)(B)(C)	110	776
China Molybdenum Company, Ltd., H Shares	816,000	531,154
China National Building Material Company, Ltd., H Shares	716,000	604,324
China Oilfield Services, Ltd., H Shares	904,000	802,509
China Petroleum & Chemical Corp., H Shares	810,000	594,798
China Vanke Company, Ltd., H Shares	105,600	375,908
CNOOC, Ltd.	805,000	1,099,142
ENN Energy Holdings, Ltd.	93,000	682,463
Geely Automobile Holdings, Ltd.	196,000	607,771
Grand Baoxin Auto Group, Ltd. (A)	1,087,000	585,264
Industrial & Commercial Bank of China, Ltd., H Shares	2,764,500	2,199,617
Minth Group, Ltd.	148,000	799,563
Momo, Inc., ADR (A)	15,282	465,643
New China Life Insurance Company, Ltd., H Shares	84,900	531,506
New Oriental Education & Technology Group, Inc., ADR	4,506	375,079
Ping An Insurance Group Company of China, Ltd., H Shares	251,000	2,205,774
RYB Education, Inc., ADR (A)	11,950	304,247
Shanghai Fosun Pharmaceutical Group Company, Ltd., H Shares	166,500	831,727
Tencent Holdings, Ltd.	139,200	6,256,357
Weibo Corp., ADR (A)	14,585	1,351,300
Xinyi Solar Holdings, Ltd.	1,476,000	511,181
Yum China Holdings, Inc. (A)	15,683	632,809
ZhongAn Online P&C Insurance Company, Ltd., H Shares (A)(C)	45,700	461,019
Hong Kong 22.1%		14,127,328
AIA Group, Ltd.	292,600	2,204,881
ASM Pacific Technology, Ltd.	17,600	256,792
Beijing Enterprises Water Group, Ltd. (A)	856,000	719,319
BOC Hong Kong Holdings, Ltd.	128,500	612,323
China Everbright Greentech, Ltd. (A)(C)	757,000	631,395
China Gas Holdings, Ltd.	318,000	966,759
China Resources Cement Holdings, Ltd.	474,000	320,377
China Resources Land, Ltd.	232,666	694,389
China Unicom Hong Kong, Ltd. (A)	420,000	595,921
CK Asset Holdings, Ltd.	113,080	930,630
CK Hutchison Holdings, Ltd.	49,580	629,751
Galaxy Entertainment Group, Ltd.	96,000	654,660

JOHN HANCOCK Greater China Opportunities Fund | ANNUAL REPORT

SEE NOTES TO FINANCIAL STATEMENTS

	Shares	Value
Hong Kong (continued)
Hong Kong Exchanges & Clearing, Ltd.	34,300	$955,744
Kingboard Laminates Holdings, Ltd.	378,000	635,236
Link REIT	68,500	575,901
Modern Dental Group, Ltd.	800,000	224,618
Sino Biopharmaceutical, Ltd.	836,000	977,602
Swire Properties, Ltd.	213,200	720,450
The Wharf Holdings, Ltd.	35,000	318,785
Yue Yuen Industrial Holdings, Ltd.	131,000	501,795
Taiwan 23.9%		15,245,958
Airtac International Group	44,000	713,235
Chailease Holding Company, Ltd.	231,000	595,875
China Development Financial Holding Corp.	1,412,000	432,883
China General Plastics Corp.	366,000	343,108
FIT Hon Teng, Ltd. (A)(C)	1,335,000	910,764
Foxsemicon Integrated Technology, Inc.	100,650	716,402
Gourmet Master Company, Ltd.	43,000	493,596
Hon Hai Precision Industry Company, Ltd.	167,000	620,730
Land Mark Optoelectronics Corp.	38,000	485,061
Largan Precision Company, Ltd.	4,000	758,239
MediaTek, Inc.	85,000	967,259
Parade Technologies, Ltd.	46,000	750,102
St. Shine Optical Company, Ltd.	21,000	513,623
Taiwan Paiho, Ltd.	75,000	309,857
Taiwan Semiconductor Manufacturing Company, Ltd.	554,089	4,479,424
Taiwan Union Technology Corp.	206,000	528,937
TCI Company, Ltd.	83,291	566,665
Yageo Corp.	133,467	1,060,198
United Kingdom 1.0%		625,239
HSBC Holdings PLC	64,000	625,239
United States 1.1%		692,013
Bizlink Holding, Inc.	69,000	692,013

Total investments (Cost $39,982,447) 99.2%					$63,370,447
Other assets and liabilities, net 0.8%					496,067
Total net assets 100.0%					$63,866,514

The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	Security is valued using significant unobservable inputs.
(C)	These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK Greater China Opportunities Fund

Financial statements

STATEMENT OF ASSETS AND LIABILITIES 10-31-17

Assets

Investments, at value (Cost $39,982,447) $63,370,447

Cash 65,662

Foreign currency, at value (Cost $294,016) 294,053

Receivable for investments sold 266,361

Receivable for fund shares sold 15,766

Dividends and interest receivable 25,058

Receivable due from advisor 416

Other receivables and prepaid expenses 34,584

Total assets 64,072,347

Liabilities

Payable for fund shares repurchased 125,077

Payable to affiliates

Accounting and legal services fees 995

Transfer agent fees 4,512

Distribution and service fees 11,252

Trustees' fees 135

Other liabilities and accrued expenses 63,862

Total liabilities 205,833

Net assets $63,866,514

Net assets consist of

Paid-in capital $37,614,656

Undistributed net investment income 266,151

Accumulated net realized gain (loss) on investments and foreign currency transactions 2,597,671

Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities in foreign currencies 23,388,036

Net assets $63,866,514

Net asset value per share

Based on net asset values and shares outstanding - The fund has an unlimited number of shares authorized with no par value

Class A ($35,687,895 ÷ 1,404,104 shares)¹ $25.42

Class B ($707,045 ÷ 29,046 shares)¹ $24.34

Class C ($6,036,107 ÷ 247,917 shares)¹ $24.35

Class I ($4,658,380 ÷ 183,731 shares) $25.35

Class NAV ($16,777,087 ÷ 652,277 shares) $25.72

Maximum offering price per share

Class A (net assets value per share ÷ 95%)² $26.76

¹ Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

² On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 15

STATEMENT OF OPERATIONS For the year ended 10-31-17

Investment income

Dividends $1,268,415

Interest 53

Less foreign taxes withheld (109,361 )

Total investment income 1,159,107

Expenses

Investment management fees 551,697

Distribution and service fees 131,686

Accounting and legal services fees 12,849

Transfer agent fees 47,946

Trustees' fees 1,302

State registration fees 78,058

Printing and postage 46,418

Professional fees 44,464

Custodian fees 49,179

Other 11,470

Total expenses 975,069

Less expense reductions (85,226 )

Net expenses 889,843

Net investment income 269,264

Realized and unrealized gain (loss)

Net realized gain (loss) on

Investments and foreign currency transactions 4,741,316

4,741,316

Change in net unrealized appreciation (depreciation) of

Investments and translation of assets and liabilities in foreign currencies 12,171,592

12,171,592

Net realized and unrealized gain 16,912,908

Increase in net assets from operations $17,182,172

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 16

STATEMENTS OF CHANGES IN NET ASSETS

Year ended 10-31-17 Year ended 10-31-16

Increase (decrease) in net assets

From operations

Net investment income $269,264 $170,206

Net realized gain (loss) 4,741,316 (1,602,061 )

Change in net unrealized appreciation (depreciation) 12,171,592 4,069,990

Increase in net assets resulting from operations 17,182,172 2,638,135

Distributions to shareholders

From net investment income

Class A (344,884 ) (158,526 )

Class B (4,744 ) —

Class C (33,201 ) —

Class I (50,555 ) (18,307 )

Class NAV (192,632 ) (105,179 )

From net realized gain

Class A — (2,347,386 )

Class B — (120,411 )

Class C — (507,485 )

Class I — (147,172 )

Class NAV — (808,551 )

Total distributions (626,016 ) (4,213,017 )

From fund share transactions (5,516,082 ) (2,477,647 )

Total increase (decrease) 11,040,074 (4,052,529 )

Net assets

Beginning of year 52,826,440 56,878,969

End of year $63,866,514 $52,826,440

Undistributed net investment income $266,151 $278,367

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 17

Financial highlights

Class A Shares Period ended 10-31-17 10-31-16 10-31-15 10-31-14 10-31-13

Per share operating performance

Net asset value, beginning of period $19.11 $19.46 $22.73 $21.70 $17.99

Net investment income¹ 0.09 0.06 0.09 0.24 0.12

Net realized and unrealized gain (loss) on investments 6.45 1.05 (1.18 ) 1.13 3.65

Total from investment operations 6.54 1.11 (1.09 ) 1.37 3.77

Less distributions

From net investment income (0.23 ) (0.09 ) (0.27 ) (0.16 ) (0.06 )

From net realized gain — (1.37 ) (1.91 ) (0.18 ) —

Total distributions (0.23 ) (1.46 ) (2.18 ) (0.34 ) (0.06 )

Net asset value, end of period $25.42 $19.11 $19.46 $22.73 $21.70

Total return (%)^2,3 34.74 6.38 (4.82 ) 6.39 21.01

Ratios and supplemental data

Net assets, end of period (in millions) $36 $30 $34 $47 $46

Ratios (as a percentage of average net assets):

Expenses before reductions 1.78 1.86 1.75 1.71 1.74

Expenses including reductions 1.63 1.72 1.71 1.71 1.74

Net investment income 0.44 0.32 0.44 1.10 0.60

Portfolio turnover (%) 63 55 82 123 93

¹ Based on average daily shares outstanding.

² Does not reflect the effect of sales charges, if any.

³ Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 18

Class B Shares Period ended 10-31-17 10-31-16 10-31-15 10-31-14 10-31-13

Per share operating performance

Net asset value, beginning of period $18.32 $18.75 $21.93 $20.97 $17.49

Net investment income (loss)¹ (0.09 ) (0.10 ) (0.12 ) 0.01 (0.08 )

Net realized and unrealized gain (loss) on investments 6.21 1.04 (1.07 ) 1.13 3.56

Total from investment operations 6.12 0.94 (1.19 ) 1.14 3.48

Less distributions

From net investment income (0.10 ) — (0.08 ) — —

From net realized gain — (1.37 ) (1.91 ) (0.18 ) —

Total distributions (0.10 ) (1.37 ) (1.99 ) (0.18 ) —

Net asset value, end of period $24.34 $18.32 $18.75 $21.93 $20.97

Total return (%)^2,3 33.68 5.61 (5.51 ) 5.44 19.90

Ratios and supplemental data

Net assets, end of period (in millions) $1 $1 $2 $5 $8

Ratios (as a percentage of average net assets):

Expenses before reductions 2.56 2.56 2.62 2.67 2.67

Expenses including reductions 2.41 2.42 2.47 2.59 2.67

Net investment income (loss) (0.48 ) (0.56 ) (0.58 ) 0.06 (0.39 )

Portfolio turnover (%) 63 55 82 123 93

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 19

Class C Shares Period ended 10-31-17 10-31-16 10-31-15 10-31-14 10-31-13

Per share operating performance

Net asset value, beginning of period $18.33 $18.75 $21.92 $20.96 $17.48

Net investment income (loss)¹ (0.08 ) (0.08 ) (0.06 ) 0.05 (0.05 )

Net realized and unrealized gain (loss) on investments 6.20 1.03 (1.13 ) 1.09 3.53

Total from investment operations 6.12 0.95 (1.19 ) 1.14 3.48

Less distributions

From net investment income (0.10 ) — (0.07 ) — —

From net realized gain — (1.37 ) (1.91 ) (0.18 ) —

Total distributions (0.10 ) (1.37 ) (1.98 ) (0.18 ) —

Net asset value, end of period $24.35 $18.33 $18.75 $21.92 $20.96

Total return (%)^2,3 33.66 5.66 (5.51 ) 5.45 19.91

Ratios and supplemental data

Net assets, end of period (in millions) $6 $6 $7 $9 $11

Ratios (as a percentage of average net assets):

Expenses before reductions 2.56 2.56 2.51 2.58 2.62

Expenses including reductions 2.41 2.42 2.47 2.57 2.62

Net investment income (loss) (0.38 ) (0.44 ) (0.30 ) 0.24 (0.27 )

Portfolio turnover (%) 63 55 82 123 93

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 20

Class I Shares Period ended 10-31-17 10-31-16 10-31-15 10-31-14 10-31-13

Per share operating performance

Net asset value, beginning of period $19.08 $19.44 $22.72 $21.71 $17.96

Net investment income¹ 0.21 0.13 0.23 0.45 0.17

Net realized and unrealized gain (loss) on investments 6.35 1.05 (1.25 ) 1.01 3.69

Total from investment operations 6.56 1.18 (1.02 ) 1.46 3.86

Less distributions

From net investment income (0.29 ) (0.17 ) (0.35 ) (0.27 ) (0.11 )

From net realized gain — (1.37 ) (1.91 ) (0.18 ) —

Total distributions (0.29 ) (1.54 ) (2.26 ) (0.45 ) (0.11 )

Net asset value, end of period $25.35 $19.08 $19.44 $22.72 $21.71

Total return (%)² 35.09 6.74 (4.43 ) 6.79 21.57

Ratios and supplemental data

Net assets, end of period (in millions) $5 $3 $2 $4 $1

Ratios (as a percentage of average net assets):

Expenses before reductions 1.55 1.55 1.57 2.14 2.79

Expenses including reductions 1.34 1.34 1.34 1.34 1.31

Net investment income 1.02 0.70 1.06 2.02 0.85

Portfolio turnover (%) 63 55 82 123 93

¹ Based on average daily shares outstanding.

² Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 21

Class NAV Shares Period ended 10-31-17 10-31-16 10-31-15 10-31-14 10-31-13

Per share operating performance

Net asset value, beginning of period $19.35 $19.70 $22.98 $21.95 $18.18

Net investment income¹ 0.17 0.15 0.20 0.62 0.23

Net realized and unrealized gain (loss) on investments 6.50 1.05 (1.21 ) 0.87 3.67

Total from investment operations 6.67 1.20 (1.01 ) 1.49 3.90

Less distributions

From net investment income (0.30 ) (0.18 ) (0.36 ) (0.28 ) (0.13 )

From net realized gain — (1.37 ) (1.91 ) (0.18 ) —

Total distributions (0.30 ) (1.55 ) (2.27 ) (0.46 ) (0.13 )

Net asset value, end of period $25.72 $19.35 $19.70 $22.98 $21.95

Total return (%)² 35.17 6.81 (4.36 ) 6.88 21.53

Ratios and supplemental data

Net assets, end of period (in millions) $17 $12 $12 $12 $1

Ratios (as a percentage of average net assets):

Expenses before reductions 1.44 1.44 1.32 1.25 1.28

Expenses including reductions 1.29 1.29 1.27 1.24 1.27

Net investment income 0.83 0.81 0.95 2.80 1.12

Portfolio turnover (%) 63 55 82 123 93

¹ Based on average daily shares outstanding.

² Total returns would have been lower had certain expenses not been reduced during the applicable periods.

SEE NOTES TO FINANCIAL STATEMENTS

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 22

Notes to financial statements

Note 1 — Organization

John Hancock Greater China Opportunities Fund (the fund) is a series of John Hancock Investment Trust III (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek long-term capital appreciation.

The fund may offer multiple classes of shares. The shares currently offered are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class B shares are closed to new investors. Class I shares are offered to institutions and certain investors. Class NAV shares are offered to John Hancock affiliated funds of funds and certain 529 plans. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ. Class B shares convert to Class A shares eight years after purchase.

Note 2 — Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 p.m., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the fund's Valuation Policies and Procedures.

In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the fund's Pricing Committee, following procedures established by the Board of Trustees. The fund uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 23

securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund's own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the fund's investments as of October 31, 2017, by major security category or type:

Total
value at
10-31-17 Level 1
quoted
price Level 2
significant
observable
inputs Level 3
significant
unobservable
inputs

Investments in securities:

Assets

Common stocks

China $32,679,909 $10,257,101 $22,419,994 $2,814

Hong Kong 14,127,328 — 14,127,328 —

Taiwan 15,245,958 — 15,245,958 —

United Kingdom 625,239 — 625,239 —

United States 692,013 — 692,013 —

Total investments in securities $63,370,447 $10,257,101 $53,110,532 $2,814

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Dividend income is recorded on the ex-date, except for dividends of foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.

Foreign currency translation. Assets, including investments and liabilities denominated in foreign currencies, are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments.

Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Funds investing in a single country or in a limited geographic region tend to be riskier than funds that invest more broadly. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors. Foreign investments are also subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.

Foreign taxes. The fund may be subject to withholding tax on income and/or capital gains or repatriation taxes imposed by certain countries in which the fund invests. Taxes are accrued based upon investment income, realized gains or unrealized appreciation.

Line of credit. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund's custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 24

security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.

Effective June 29, 2017, the fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $750 million unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $500 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on a combination of fixed and asset based allocations and is reflected in Other expenses on the Statement of operations. Prior to June 29, 2017, the fund had a similar agreement that enabled it to participate in a $1 billion unsecured committed line of credit. For the year ended October 31, 2017, the fund had no borrowings under either line of credit. Commitment fees for the year ended October 31, 2017 were $2,874.

Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.

Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.

As of October 31, 2017, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund's federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares and pays dividends and capital gain distributions, if any, annually.

The tax character of distributions for the years ended October 31, 2017 and 2016 was as follows:

October 31, 2017 October 31, 2016

Ordinary income $626,016 $282,302

Long-term capital gains — 3,930,715

Total $626,016 $4,213,017

Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of October 31, 2017, the components of distributable earnings on a tax basis consisted of $508,688 of undistributed ordinary income and $2,355,134 of undistributed long-term capital gains.

Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund's financial statements as a return of capital.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 25

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to investments in passive foreign investment companies.

Note 3 — Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.

Note 4 — Fees and transactions with affiliates

John Hancock Advisers, LLC (the Advisor) serves as investment advisor for the fund. John Hancock Funds, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, wholly owned subsidiaries of Manulife Financial Corporation (MFC).

Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent, on an annual basis, to the sum of: (a) 1.00% of the first $1 billion of the fund's average daily net assets; (b) 0.95% of the next $1 billion of the fund's average daily net assets and (c) 0.90% of the fund's average daily net assets in excess of $2 billion. The Advisor has a subadvisory agreement with John Hancock Asset Management a division of Manulife Asset Management (North America) Limited, an indirectly owned subsidiary of MFC and an affiliate of the Advisor. The fund is not responsible for payment of the subadvisory fees.

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended October 31, 2017, this waiver amounted to 0.01% of the fund's average net assets. This arrangement may be amended or terminated at any time by the Advisor upon notice to the funds and with approval of the Board of Trustees.

The Advisor has contractually agreed to reduce its management fee for the fund, or if necessary, make payment to the fund, in an amount equal to the amount by which the fund's expenses exceed 0.30% of average net assets, on an annualized basis. Expenses means all the expenses of the fund, excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, advisory fees, class-specific expenses, borrowing costs, prime brokerage fees, acquired fund fees and expenses paid indirectly, and short dividend expense. This current limitation expires on February 28, 2018, unless renewed by mutual agreement of the fund and Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to reduce its management fee or, if necessary, make payment to Class I shares to limit expenses for the class, to the extent that expense exceed 1.34% of average net assets of the class. Expenses exclude taxes, brokerage commissions, interest expense, acquired fund fees and expenses paid indirectly, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, borrowing costs, prime brokerage fees, and short dividend expense. This current limitation expires on February 28, 2018, unless renewed by mutual agreement of the fund and Advisor based upon a determination that this is appropriate under the circumstances at that time.

For the year ended October 31, 2017, these expense reductions described above amounted to the following:

Class Expense reduction Class Expense reduction

Class A $44,756 Class I $10,299

Class B 1,128 Class NAV 20,475

Class C 8,568 Total $85,226

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 26

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended October 31, 2017 were equivalent to a net annual effective rate of 0.85% of the fund's average daily net assets.

Accounting and legal services. Pursuant to the Accounting and Legal Services Agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred for the year ended October 31, 2017, amounted to an annual rate of 0.02% of the fund's average daily net assets.

Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans with respect to Class A, Class B and Class C shares pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund's shares:

Class Rule 12b-1 fee

Class A 0.30%

Class B 1.00%

Class C 1.00%

Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $32,619 for the year ended October 31, 2017. Of this amount, $5,521 was retained and used for printing prospectuses, advertising, sales literature and other purposes, $25,733 was paid as sales commissions to broker-dealers and $1,365 was paid as sales commissions to sales personnel of Signator Investors, Inc., a broker-dealer affiliate of the Advisor.

Class A, Class B and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares that are acquired through purchases of $1 million or more and are redeemed within one year of purchase are subject to a 1.00% sales charge. Class B shares that are redeemed within six years of purchase are subject to CDSCs, at declining rates, beginning at 5.00%. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended October 31, 2017, CDSCs received by the Distributor amounted to $11, $706 and $78 for Class A, Class B and Class C shares, respectively.

Transfer agent fees. The John Hancock Group of Funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five categories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 27

Class level expenses. Class level expenses for the year ended October 31, 2017 were:

Class Distribution and service fees Transfer agent fees

Class A $66,461 $34,963

Class B 7,623 894

Class C 57,602 6,736

Class I — 5,353

Total $131,686 $47,946

Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.

Note 5 — Fund share transactions

Transactions in fund shares for the years ended October 31, 2017 and 2016 were as follows:

Year ended 10-31-17 Year ended 10-31-16

Shares Amount Shares Amount

Class A shares

Sold 253,457 $5,539,019 121,296 $2,189,169

Distributions reinvested 18,679 327,821 135,553 2,381,673

Repurchased (454,463 ) (9,267,293 ) (420,205 ) (7,356,783 )

Net decrease (182,327 ) ($3,400,453 ) (163,356 ) ($2,785,941 )

Class B shares

Sold 2,037 $35,945 510 $8,605

Distributions reinvested 261 4,426 6,881 116,626

Repurchased (25,056 ) (484,551 ) (52,914 ) (894,107 )

Net decrease (22,758 ) ($444,180 ) (45,523 ) ($768,876 )

Class C shares

Sold 17,925 $372,727 24,216 $425,537

Distributions reinvested 1,605 27,175 23,947 406,141

Repurchased (99,663 ) (2,028,424 ) (96,900 ) (1,594,021 )

Net decrease (80,133 ) ($1,628,522 ) (48,737 ) ($762,343 )

Class I shares

Sold 324,724 $6,403,764 969,571 $18,202,550

Distributions reinvested 1,002 17,507 8,026 140,370

Repurchased (306,382 ) (6,656,830 ) (932,026 ) (17,417,137 )

Net increase (decrease) 19,344 ($235,559 ) 45,571 $925,783

Class NAV shares

Distributions reinvested 10,877 192,632 51,536 913,730

Net increase 10,877 $192,632 51,536 $913,730

Total net decrease (254,997 ) ($5,516,082 ) (160,509 ) ($2,477,647 )

Affiliates of the fund owned 100% of shares of Class NAV on October 31, 2017. Such concentration of shareholders' capital could have a material effect on the fund if such shareholders redeem from the fund.

Note 6 — Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to $34,137,580 and $39,954,670, respectively, for the year ended October 31, 2017.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 28

Note 7 — Industry or sector risk

The fund may invest a large percentage of its assets in one or more particular industries or sectors of the economy. If a large percentage of the fund's assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund's NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors.

Note 8 — Greater China risk

Investments in the Greater China region may be subject to special risks, such as less developed markets, restrictions on monetary repatriation or other adverse government actions, nationalization, or expropriation of assets. Although they are larger and/or more established than many emerging markets, the markets of Greater China function in many ways as emerging markets, and carry the high levels of risks associated with emerging markets. In addition, there are risks particular to the region. For example, investments in Taiwan could be adversely affected by its political relationship with China. A small number of companies and industries represent a relatively large portion of the Greater China market as a whole. All of these factors mean that the fund is more likely to experience higher volatility and lower liquidity than a portfolio that invests mainly in U.S. stocks.

Note 9 — Investment by affiliated funds

Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund's net assets. At October 31, 2017, within the John Hancock group of funds complex, John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio had an affiliated ownership of 5% or more at 26.3% of the fund's net assets.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 29

AUDITOR'S REPORT

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of John Hancock Investment Trust III and Shareholders of John Hancock Greater China Opportunities Fund:

In our opinion, the accompanying statement of assets and liabilities, including the fund's investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of the John Hancock Greater China Opportunities Fund (the "Fund") as of October 31, 2017, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities as of October 31, 2017 by correspondence with the custodian, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Boston, Massachusetts

December 19, 2017

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 30

TAX INFORMATION

Unaudited

For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended October 31, 2017.

The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.

The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Income derived from foreign sources was $1,258,403. The fund intends to pass through foreign tax credits of $109,361.

Eligible shareholders will be mailed a 2017 Form 1099-DIV in early 2018. This will reflect the tax character of all distributions paid in calendar year 2017.

Please consult a tax advisor regarding the tax consequences of your investment in the fund.

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Continuation of Investment Advisory and Subadvisory Agreements

Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Investment Trust III (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Advisers, LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with John Hancock Asset Management a division of Manulife Asset Management (North America) Limited (the Subadvisor) for John Hancock Greater China Opportunities Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 19-22, 2017 in-person meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at an in-person meeting held on May 22-24, 2017.

Approval of Advisory and Subadvisory Agreements

At in-person meetings held on June 19-22, 2017, the Board, including the Trustees who are not parties to Agreement or considered to be interested persons of the Trust under the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees), reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.

In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor's revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board notes that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor's affiliates, including distribution services. The Board considered the Advisory Agreement and Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.

Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

Approval of Advisory Agreement

In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as

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determinative, and each Trustee may have attributed different weights to different factors. The Board's conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board's ongoing regular review of fund performance and operations throughout the year.

Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust's Chief Compliance Officer (CCO) regarding the fund's compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund's compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board also considered the Advisor's risk management processes. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risk with respect to all funds.

In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor's management and the quality of the performance of the Advisor's duties, through Board meetings, discussions and reports during the preceding year and through each Trustee's experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a)	the skills and competency with which the Advisor has in the past managed the Trust's affairs and its subadvisory relationship, the Advisor's oversight and monitoring of the Subadvisor's investment performance and compliance programs, such as the Subadvisor's compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor's timeliness in responding to performance issues;
(b)	the background, qualifications and skills of the Advisor's personnel;
(c)	the Advisor's compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d)	the Advisor's administrative capabilities, including its ability to supervise the other service providers for the fund;
(e)	the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund;
(f)	the Advisor's initiatives intended to improve various aspects of the Trust's operations and investor experience with the fund; and
(g)	the Advisor's reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.

Investment performance. In considering the fund's performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund's performance results. In connection with the consideration of the Advisory Agreement, the Board:

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(a)	reviewed information prepared by management regarding the fund's performance;
(b)	considered the comparative performance of an applicable benchmark index;
(c)	considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and
(d)	took into account the Advisor's analysis of the fund's performance and its plans and recommendations regarding the Trust's subadvisory arrangements generally.

The Board noted that while it found the data provided by independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and the results of the performance comparisons may vary depending on the selection of the peer group. The Board noted that the fund underperformed its benchmark index for the one-, three-, five- and ten-year periods ended December 31, 2016. The Board also noted that the fund underperformed its peer group average for the three- and ten-year periods and outperformed its peer group average for the one- and five-year periods ended December 31, 2016. The Board took into account management's discussion of the fund's performance, including the favorable performance relative to the peer group for the one- and five-year periods. The Board concluded that the fund's performance has generally been in line with or outperformed the historical performance of comparable funds.

Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund's contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board considered the fund's ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund's ranking within a broader group of funds. In comparing the fund's contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees and net total expenses for the fund are lower than the peer group median.

The Board took into account management's discussion with respect to the overall management fee, the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund's operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduce management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor's and Subadvisor's services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent and quality of the services provided to the fund under the Advisory Agreement.

Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisor) from the Advisor's relationship with the Trust, the Board:

(a)	reviewed financial information of the Advisor;
(b)	reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund;
(c)	received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund;

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(d)	received information with respect to the Advisor's allocation methodologies used in preparing the profitability data and considered that the advisor hired an independent third-party consultant to provide an analysis of the Advisor's allocation methodologies;
(e)	considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f)	considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g)	noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund's distributor also receives Rule 12b-1 payments to support distribution of the fund;
(h)	noted that the fund's Subadvisor is an affiliate of the Advisor;
(i)	noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund;
(j)	noted that the subadvisory fee for the fund is paid by the Advisor;
(k)	considered the Advisor's ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and
(l)	considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including the Subadvisor) from their relationship with the fund was reasonable and not excessive.

Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:

(a)	considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b)	reviewed the fund's advisory fee structure and concluded that: (i) the fund's fee structure contains breakpoints at the advisory fee level; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management's discussion of the fund's advisory fee structure; and
(c)	the Board also considered the effect of the fund's growth in size on its performance and fees. The Board also noted that if the fund's assets increase over time, the fund may realize other economies of scale.

Approval of Subadvisory Agreement

In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:

(1)	information relating to the Subadvisor's business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex);

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(2)	the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; and
(3)	the subadvisory fee for the fund and to the extent available, comparable fee information prepared by an independent third party provider of fund data.

Nature, extent, and quality of services. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor's Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor's current level of staffing and its overall resources, as well as received information relating to the Subadvisor's compensation program. The Board reviewed the Subadvisor's history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor's investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor's compliance program and any disciplinary history. The Board also considered the Subadvisor's risk assessment and monitoring process. The Board reviewed the Subadvisor's regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust's CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.

The Board considered the Subadvisor's investment process and philosophy. The Board took into account that the Subadvisor's responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund's investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor's brokerage policies and practices, including with respect to best execution and soft dollars.

Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the fund, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.

In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor's relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.

Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund's subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.

Subadvisor performance. As noted above, the Board considered the fund's performance as compared to the fund's peer group and the benchmark index and noted that the Board reviews information about the fund's performance results at its regularly scheduled meetings. The Board noted the Advisor's expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor's focus on the Subadvisor's performance. The Board also noted the Subadvisor's long-term performance record for similar accounts, as applicable.

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The Board's decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:

(1)	the Subadvisor has extensive experience as demonstrated skills as a manager;
(2)	the performance of the fund has generally been in line with or outperformed the historical performance of comparable funds;
(3)	the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4)	noted that the subadvisory fees are paid by the Advisor not the fund.

* * *

Based on the Board's evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.

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Trustees and Officers

This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.

Independent Trustees

Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years Trustee
of the
Trust
since¹ Number of John
Hancock funds
overseen by
Trustee

Hassell H. McClellan, Born: 1945 2012 223

Trustee and Chairperson of the Board
Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2014) and Chairperson of the Board (since 2017), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (since 2017), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (since 2017), John Hancock retail funds³; Trustee (2005-2006 and since 2012) and Chairperson of the Board (since 2017), John Hancock Funds III; Trustee (since 2005) and Chairperson of the Board (since 2017), John Hancock Variable Insurance Trust and John Hancock Funds II.

Charles L. Bardelis,² Born: 1941 2012 223

Trustee
Director, Island Commuter Corp. (marine transport). Trustee, John Hancock Collateral Trust (since 2014), Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust (since 1988); Trustee, John Hancock Funds II (since 2005).

Peter S. Burgess,² Born: 1942 2012 223

Trustee
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010-2016); Director, PMA Capital Corporation (2004-2010). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2005).

William H. Cunningham, Born: 1944 2005 223

Trustee
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009-2014). Trustee, John Hancock retail funds³ (since 1986); Trustee, John Hancock Variable Insurance Trust (since 2012); Trustee, John Hancock Funds II (2005-2006 and since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Grace K. Fey, Born: 1946 2012 223

Trustee
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988-2007); Director, Fiduciary Trust (since 2009). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).

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Independent Trustees (continued)

Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years Trustee
of the
Trust
since¹ Number of John
Hancock funds
overseen by
Trustee

Theron S. Hoffman,² Born: 1947 2012 223

Trustee
Chief Executive Officer, T. Hoffman Associates, LLC (consulting firm) (since 2003); Director, The Todd Organization (consulting firm) (2003-2010); President, Westport Resources Management (investment management consulting firm) (2006-2008); Senior Managing Director, Partner, and Operating Head, Putnam Investments (2000-2003); Executive Vice President, The Thomson Corp. (financial and legal information publishing) (1997-2000). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).

Deborah C. Jackson, Born: 1952 2008 223

Trustee
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, National Association of Corporate Directors/New England (since 2015); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (since 2014); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002-2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996-2009); Board of Directors of Boston Stock Exchange (2002-2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007-2011). Trustee, John Hancock retail funds³ (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); and Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

James M. Oates, Born: 1946 2012 223

Trustee
Managing Director, Wydown Group (financial consulting firm) (since 1994); Chairman and Director, Emerson Investment Management, Inc. (2000-2015); Independent Chairman, Hudson Castle Group, Inc. (formerly IBEX Capital Markets, Inc.) (financial services company) (1997-2011); Director, Stifel Financial (since 1996); Director, Investor Financial Services Corporation (1995-2007); Director, Connecticut River Bancorp (1998-2014); Director/Trustee, Virtus Funds (since 1988). Trustee (since 2014) and Chairperson of the Board (2014-2016), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (2015-2016), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (2012-2016), John Hancock retail funds³; Trustee (2005-2006 and since 2012) and Chairperson of the Board (2012-2016), John Hancock Funds III; Trustee (since 2004) and Chairperson of the Board (2005-2016), John Hancock Variable Insurance Trust; Trustee (since 2005) and Chairperson of the Board, John Hancock Funds II (2005-2016).

Steven R. Pruchansky, Born: 1944 2005 223

Trustee and Vice Chairperson of the Board
Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (since 2000); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (since 2014); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992) and Chairperson of the Board (2011-2012), John Hancock retail funds³; Trustee and Vice Chairperson of the Board, John Hancock retail funds³ John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee and Vice Chairperson of the Board, John Hancock Collateral Trust (since 2014); Trustee and Vice Chairperson of the Board, John Hancock Exchange-Traded Fund Trust (since 2015).

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Independent Trustees (continued)

Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years Trustee
of the
Trust
since¹ Number of John
Hancock funds
overseen by
Trustee

Gregory A. Russo, Born: 1949 2009 223

Trustee
Director and Audit Committee Chairman (since 2012), and Member, Audit Committee and Finance Committee (since 2011), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (since 2012) and Finance Committee Chairman (since 2014), The Moorings, Inc. (nonprofit continuing care community); Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002-2006); Vice Chairman, Industrial Markets, KPMG (1998-2002); Chairman and Treasurer, Westchester County, New York, Chamber of Commerce (1986-1992); Director, Treasurer, and Chairman of Audit and Finance Committees, Putnam Hospital Center (1989-1995); Director and Chairman of Fundraising Campaign, United Way of Westchester and Putnam Counties, New York (1990-1995). Trustee, John Hancock retail funds³ (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

Non-Independent Trustees⁴

Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years Trustee
of the
Trust
since¹ Number of John
Hancock funds
overseen by
Trustee

Andrew G. Arnott, Born: 1971 2017 223

President and Trustee
Executive Vice President, John Hancock Financial Services (since 2009, including prior positions); Director and Executive Vice President, John Hancock Advisers, LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Investment Management Services, LLC (since 2006, including prior positions); President, John Hancock Funds, LLC (since 2004, including prior positions); President, John Hancock retail funds,³ John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2007, including prior positions); President, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014). Trustee, John Hancock Collateral Trust, John Hancock Exchange-Traded Fund Trust, John Hancock retail funds,³John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2017).

James R. Boyle, Born: 1959 2015 223

Non-Independent Trustee
Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (since 2014); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014-July 2014); Senior Executive Vice President, Manulife Financial Corporation, President and Chief Executive Officer, John Hancock (1999-2012); Chairman and Director, John Hancock Advisers, LLC, John Hancock Funds, LLC, and John Hancock Investment Management Services, LLC (2005-2010). Trustee, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (2005-2010; 2012-2014 and since 2015); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (2005-2014 and since 2015).

Warren A. Thomson, Born: 1955 2012 223

Non-Independent Trustee
Senior Executive Vice President and Chief Investment Officer, Manulife Financial Corporation and The Manufacturers Life Insurance Company (since 2009); Chairman, Manulife Asset Management (since 2001, including prior positions); Director and Chairman, Manulife Asset Management Limited (since 2006); Director and Chairman, Hancock Natural Resources Group, Inc. (since 2013). Trustee, John Hancock retail funds,³ John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).

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Principal officers who are not Trustees

Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years Officer
of the
Trust
since

John J. Danello,Born: 1955 2014

Senior Vice President, Secretary, and Chief Legal Officer
Vice President and Chief Counsel, John Hancock Wealth Management (since 2005); Senior Vice President (since 2007) and Chief Legal Counsel (2007-2010), John Hancock Funds, LLC and The Berkeley Financial Group, LLC; Senior Vice President (since 2006, including prior positions) and Chief Legal Officer and Secretary (since 2014), John Hancock retail funds,³ John Hancock Funds II and John Hancock Variable Insurance Trust; Senior Vice President, Secretary and Chief Legal Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014); Vice President, John Hancock Life & Health Insurance Company (since 2009); Vice President, John Hancock Life Insurance Company (USA) and John Hancock Life Insurance Company of New York (since 2010); and Senior Vice President, Secretary and Chief Legal Counsel (2007-2014, including prior positions) of John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC.

Francis V. Knox, Jr.,Born: 1947 2005

Chief Compliance Officer
Vice President, John Hancock Financial Services (since 2005); Chief Compliance Officer, John Hancock retail funds,³ John Hancock Variable Insurance Trust, John Hancock Funds II, John Hancock Advisers, LLC, and John Hancock Investment Management Services, LLC (since 2005); Chief Compliance Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

Charles A. Rizzo, Born: 1957 2007

Chief Financial Officer
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC (since 2008); Chief Financial Officer, John Hancock retail funds,³ John Hancock Variable Insurance Trust and John Hancock Funds II (since 2007); Chief Financial Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

Salvatore Schiavone, Born: 1965 2010

Treasurer
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC (since 2007); Treasurer, John Hancock retail funds³ (since 2007, including prior positions); Treasurer, John Hancock Variable Insurance Trust and John Hancock Funds II (2007-2009 and since 2010, including prior positions); Treasurer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).

The business address for all Trustees and Officers is 601 Congress Street, Boston, Massachusetts 02210-2805.

The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-5291.

1	Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee's death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table.
2	Member of the Audit Committee.
3	"John Hancock retail funds" comprises John Hancock Funds III and 38 other John Hancock funds consisting of 28 series of other John Hancock trusts and 10 closed-end funds.
4	The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 41

More information

Trustees

Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†^#
Charles L. Bardelis*
James R. Boyle†
Peter S. Burgess*
William H. Cunningham
Grace K. Fey
Theron S. Hoffman*
Deborah C. Jackson
James M. Oates
Gregory A. Russo
Warren A. Thomson†

Officers

Andrew G. Arnott
President

John J. Danello
Senior Vice President, Secretary,
and Chief Legal Officer

Francis V. Knox, Jr.
Chief Compliance Officer

Charles A. Rizzo
Chief Financial Officer

Salvatore Schiavone
Treasurer

Investment advisor

John Hancock Advisers, LLC

Subadvisor

John Hancock Asset Management a division of Manulife Asset Management (North America) Limited

Principal distributor

John Hancock Funds, LLC

Custodian

Citibank, N.A.

Transfer agent

John Hancock Signature Services, Inc.

Legal counsel

K&L Gates LLP

Independent registered public accounting firm

PricewaterhouseCoopers LLP

*Member of the Audit Committee
†Non-Independent Trustee
^#Effective 6-20-17

The fund's proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.

The fund's complete list of portfolio holdings, for the first and third fiscal quarters, is filed with the SEC on Form N-Q. The fund's Form N-Q is available on our website and the SEC's website, sec.gov, and can be reviewed and copied (for a fee) at the SEC's Public Reference Room in Washington, DC. Call 800-SEC-0330 to receive information on the operation of the SEC's Public Reference Room.

We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.

You can also contact us:

800-225-5291
jhinvestments.com
Regular mail:

John Hancock Signature Services, Inc.
P.O. Box 55913
Boston, MA 02205-5913

Express mail:

John Hancock Signature Services, Inc.
Suite 55913
30 Dan Road
Canton, MA 02021

ANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 42

John Hancock family of funds

DOMESTIC EQUITY FUNDS

Balanced

Blue Chip Growth

Classic Value

Disciplined Value

Disciplined Value Mid Cap

Equity Income

Fundamental All Cap Core

Fundamental Large Cap Core

Fundamental Large Cap Value

New Opportunities

Small Cap Core

Small Cap Value

Small Company

Strategic Growth

U.S. Global Leaders Growth

U.S. Growth

Value Equity

GLOBAL AND INTERNATIONAL EQUITY FUNDS

Disciplined Value International

Emerging Markets

Emerging Markets Equity

Fundamental Global Franchise

Global Equity

Global Shareholder Yield

Greater China Opportunities

International Growth

International Small Company

International Value Equity

INCOME FUNDS

Bond

California Tax-Free Income

Emerging Markets Debt

Floating Rate Income

Global Income

Government Income

High Yield

High Yield Municipal Bond

Income

Investment Grade Bond

Money Market

Short Duration Credit Opportunities

Spectrum Income

Strategic Income Opportunities

Tax-Free Bond

ALTERNATIVE AND SPECIALTY FUNDS

Absolute Return Currency

Alternative Asset Allocation

Enduring Assets

Financial Industries

Global Absolute Return Strategies

Global Conservative Absolute Return

Global Focused Strategies

Natural Resources

Redwood

Regional Bank

Seaport

Technical Opportunities

A fund's investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investments at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.

ASSET ALLOCATION

Income Allocation Fund

Multi-Index Lifetime Portfolios

Multi-Index Preservation Portfolios

Multimanager Lifestyle Portfolios

Multimanager Lifetime Portfolios

EXCHANGE-TRADED FUNDS

John Hancock Multifactor Consumer Discretionary ETF

John Hancock Multifactor Consumer Staples ETF

John Hancock Multifactor Developed International ETF

John Hancock Multifactor Energy ETF

John Hancock Multifactor Financials ETF

John Hancock Multifactor Healthcare ETF

John Hancock Multifactor Industrials ETF

John Hancock Multifactor Large Cap ETF

John Hancock Multifactor Materials ETF

John Hancock Multifactor Mid Cap ETF

John Hancock Multifactor Small Cap ETF

John Hancock Multifactor Technology ETF

John Hancock Multifactor Utilities ETF

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE FUNDS

ESG All Cap Core

ESG Core Bond

ESG International Equity

ESG Large Cap Core

CLOSED-END FUNDS

Financial Opportunities

Hedged Equity & Income

Income Securities Trust

Investors Trust

Preferred Income

Preferred Income II

Preferred Income III

Premium Dividend

Tax-Advantaged Dividend Income

Tax-Advantaged Global Shareholder Yield

John Hancock Multifactor ETF shares are bought and sold at market price (not NAV), and are not individually redeemed
from the fund. Brokerage commissions will reduce returns.

John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Dimensional Fund Advisors LP.
Foreside is not affiliated with John Hancock Funds, LLC or Dimensional Fund Advisors LP.

Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the
John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no
representation as to the advisability of investing in, John Hancock Multifactor ETFs.

John Hancock Investments

A trusted brand

John Hancock Investments is a premier asset manager representing one of
America's most trusted brands, with a heritage of financial stewardship dating
back to 1862. Helping our shareholders pursue their financial goals is at the
core of everything we do. It's why we support the role of professional financial
advice and operate with the highest standards of conduct and integrity.

A better way to invest

We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising standards
and serve the best interests of our shareholders.

Results for investors

Our unique approach to asset management enables us to provide a diverse set
of investments backed by some of the world's best managers, along with strong
risk-adjusted returns across asset classes.

John Hancock Funds, LLC n Member FINRA, SIPC
601 Congress Street n Boston, MA 02210-2805
800-225-5291 n jhinvestments.com

This report is for the information of the shareholders of John Hancock Greater China Opportunities Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.

MF410670 08A 10/17
12/17

Registrant's telephone number, including area code: 617-663-4497

Date of fiscal year end:	October 31

Date of reporting period:	October 31, 2017

John Hancock Investment Trust III

By:	/s/ Andrew Arnott
	Andrew Arnott
	President

Date:	December 19, 2017

By:	/s/ Andrew Arnott
	Andrew Arnott
	President

Date:	December 19, 2017

By:	/s/ Charles A. Rizzo
	Charles A. Rizzo
	Chief Financial Officer

Date:	December 19, 2017


China	51.1
Taiwan	23.9
Hong Kong	22.1
United States	1.1
United Kingdom	1.0
Other assets and liabilities, net	0.8
TOTAL	100.0
As a percentage of net assets.


Tencent Holdings, Ltd.	9.8
Alibaba Group Holding, Ltd., ADR	8.5
Taiwan Semiconductor Manufacturing Company, Ltd.	7.0
China Construction Bank Corp., H Shares	3.6
Ping An Insurance Group Company of China, Ltd., H Shares	3.5
AIA Group, Ltd.	3.5
Industrial & Commercial Bank of China, Ltd., H Shares	3.4
Baidu, Inc., ADR	2.6
Weibo Corp., ADR	2.1
CNOOC, Ltd.	1.7
TOTAL	45.7
As a percentage of net assets.
Cash and cash equivalents are not included.


	Kai-Kong Chay, CFA On the fund since 2011 Investing since 1997
	Ronald Chan, CFA On the fund since 2011 Investing since 1995


Average annual total returns (%) with maximum sales charge				Cumulative total returns (%) with maximum sales charge
	1-year	5-year	10-year		5-year	10-year
Class A	28.00	10.78	0.10		66.85	1.01
Class B	28.68	10.76	-0.17		66.66	-1.65
Class C	32.66	11.03	-0.17		68.73	-1.65
Class I¹	35.09	12.34	0.83		78.92	8.61
Class NAV¹	35.17	12.39	1.15		79.35	12.07
Index^†	32.83	11.23	3.01		70.26	34.47


	Start date	With maximum sales charge ($)	Without sales charge ($)	Index ($)
Class B²	10-31-07	9,835	9,835	13,447
Class C²	10-31-07	9,835	9,835	13,447
Class I¹	10-31-07	10,861	10,861	13,447
Class NAV¹	10-31-07	11,207	11,207	13,447


		Account value on 5-1-2017	Ending value on 10-31-2017	Expenses paid during period ended 10-31-2017¹	Annualized expense ratio
Class A	Actual expenses/actual returns	$1,000.00	$1,274.20	$9.11	1.59%
	Hypothetical example for comparison purposes	1,000.00	1,017.20	8.08	1.59%
Class B	Actual expenses/actual returns	1,000.00	1,268.40	13.72	2.40%
	Hypothetical example for comparison purposes	1,000.00	1,013.10	12.18	2.40%
Class C	Actual expenses/actual returns	1,000.00	1,268.90	13.78	2.41%
	Hypothetical example for comparison purposes	1,000.00	1,013.10	12.23	2.41%
Class I	Actual expenses/actual returns	1,000.00	1,275.20	7.68	1.34%
	Hypothetical example for comparison purposes	1,000.00	1,018.50	6.82	1.34%
Class NAV	Actual expenses/actual returns	1,000.00	1,275.80	7.40	1.29%
	Hypothetical example for comparison purposes	1,000.00	1,018.70	6.56	1.29%



	Year ended 10-31-17		Year ended 10-31-16
Increase (decrease) in net assets
From operations
Net investment income	$269,264		$170,206
Net realized gain (loss)	4,741,316		(1,602,061	)
Change in net unrealized appreciation (depreciation)	12,171,592		4,069,990
Increase in net assets resulting from operations	17,182,172		2,638,135
Distributions to shareholders
From net investment income
Class A	(344,884	)	(158,526	)
Class B	(4,744	)	—
Class C	(33,201	)	—
Class I	(50,555	)	(18,307	)
Class NAV	(192,632	)	(105,179	)
From net realized gain
Class A	—		(2,347,386	)
Class B	—		(120,411	)
Class C	—		(507,485	)
Class I	—		(147,172	)
Class NAV	—		(808,551	)
Total distributions	(626,016	)	(4,213,017	)
From fund share transactions	(5,516,082	)	(2,477,647	)
Total increase (decrease)	11,040,074		(4,052,529	)
Net assets
Beginning of year	52,826,440		56,878,969
End of year	$63,866,514		$52,826,440
Undistributed net investment income	$266,151		$278,367





Class A Shares Period ended		10-31-17		10-31-16		10-31-15		10-31-14		10-31-13
Per share operating performance
Net asset value, beginning of period		$19.11		$19.46		$22.73		$21.70		$17.99
Net investment income¹		0.09		0.06		0.09		0.24		0.12
Net realized and unrealized gain (loss) on investments		6.45		1.05		(1.18	)	1.13		3.65
Total from investment operations		6.54		1.11		(1.09	)	1.37		3.77
Less distributions
From net investment income		(0.23	)	(0.09	)	(0.27	)	(0.16	)	(0.06	)
From net realized gain		—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(0.23	)	(1.46	)	(2.18	)	(0.34	)	(0.06	)
Net asset value, end of period		$25.42		$19.11		$19.46		$22.73		$21.70
Total return (%)^2,3		34.74		6.38		(4.82	)	6.39		21.01
Ratios and supplemental data
Net assets, end of period (in millions)		$36		$30		$34		$47		$46
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.78		1.86		1.75		1.71		1.74
	Expenses including reductions	1.63		1.72		1.71		1.71		1.74
	Net investment income	0.44		0.32		0.44		1.10		0.60
Portfolio turnover (%)		63		55		82		123		93





Class B Shares Period ended		10-31-17		10-31-16		10-31-15		10-31-14		10-31-13
Per share operating performance
Net asset value, beginning of period		$18.32		$18.75		$21.93		$20.97		$17.49
Net investment income (loss)¹		(0.09	)	(0.10	)	(0.12	)	0.01		(0.08	)
Net realized and unrealized gain (loss) on investments		6.21		1.04		(1.07	)	1.13		3.56
Total from investment operations		6.12		0.94		(1.19	)	1.14		3.48
Less distributions
From net investment income		(0.10	)	—		(0.08	)	—		—
From net realized gain		—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(0.10	)	(1.37	)	(1.99	)	(0.18	)	—
Net asset value, end of period		$24.34		$18.32		$18.75		$21.93		$20.97
Total return (%)^2,3		33.68		5.61		(5.51	)	5.44		19.90
Ratios and supplemental data
Net assets, end of period (in millions)		$1		$1		$2		$5		$8
Ratios (as a percentage of average net assets):
	Expenses before reductions	2.56		2.56		2.62		2.67		2.67
	Expenses including reductions	2.41		2.42		2.47		2.59		2.67
	Net investment income (loss)	(0.48	)	(0.56	)	(0.58	)	0.06		(0.39	)
Portfolio turnover (%)		63		55		82		123		93





Class C Shares Period ended		10-31-17		10-31-16		10-31-15		10-31-14		10-31-13
Per share operating performance
Net asset value, beginning of period		$18.33		$18.75		$21.92		$20.96		$17.48
Net investment income (loss)¹		(0.08	)	(0.08	)	(0.06	)	0.05		(0.05	)
Net realized and unrealized gain (loss) on investments		6.20		1.03		(1.13	)	1.09		3.53
Total from investment operations		6.12		0.95		(1.19	)	1.14		3.48
Less distributions
From net investment income		(0.10	)	—		(0.07	)	—		—
From net realized gain		—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(0.10	)	(1.37	)	(1.98	)	(0.18	)	—
Net asset value, end of period		$24.35		$18.33		$18.75		$21.92		$20.96
Total return (%)^2,3		33.66		5.66		(5.51	)	5.45		19.91
Ratios and supplemental data
Net assets, end of period (in millions)		$6		$6		$7		$9		$11
Ratios (as a percentage of average net assets):
	Expenses before reductions	2.56		2.56		2.51		2.58		2.62
	Expenses including reductions	2.41		2.42		2.47		2.57		2.62
	Net investment income (loss)	(0.38	)	(0.44	)	(0.30	)	0.24		(0.27	)
Portfolio turnover (%)		63		55		82		123		93





Class I Shares Period ended		10-31-17		10-31-16		10-31-15		10-31-14		10-31-13
Per share operating performance
Net asset value, beginning of period		$19.08		$19.44		$22.72		$21.71		$17.96
Net investment income¹		0.21		0.13		0.23		0.45		0.17
Net realized and unrealized gain (loss) on investments		6.35		1.05		(1.25	)	1.01		3.69
Total from investment operations		6.56		1.18		(1.02	)	1.46		3.86
Less distributions
From net investment income		(0.29	)	(0.17	)	(0.35	)	(0.27	)	(0.11	)
From net realized gain		—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(0.29	)	(1.54	)	(2.26	)	(0.45	)	(0.11	)
Net asset value, end of period		$25.35		$19.08		$19.44		$22.72		$21.71
Total return (%)²		35.09		6.74		(4.43	)	6.79		21.57
Ratios and supplemental data
Net assets, end of period (in millions)		$5		$3		$2		$4		$1
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.55		1.55		1.57		2.14		2.79
	Expenses including reductions	1.34		1.34		1.34		1.34		1.31
	Net investment income	1.02		0.70		1.06		2.02		0.85
Portfolio turnover (%)		63		55		82		123		93





Class NAV Shares Period ended		10-31-17		10-31-16		10-31-15		10-31-14		10-31-13
Per share operating performance
Net asset value, beginning of period		$19.35		$19.70		$22.98		$21.95		$18.18
Net investment income¹		0.17		0.15		0.20		0.62		0.23
Net realized and unrealized gain (loss) on investments		6.50		1.05		(1.21	)	0.87		3.67
Total from investment operations		6.67		1.20		(1.01	)	1.49		3.90
Less distributions
From net investment income		(0.30	)	(0.18	)	(0.36	)	(0.28	)	(0.13	)
From net realized gain		—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(0.30	)	(1.55	)	(2.27	)	(0.46	)	(0.13	)
Net asset value, end of period		$25.72		$19.35		$19.70		$22.98		$21.95
Total return (%)²		35.17		6.81		(4.36	)	6.88		21.53
Ratios and supplemental data
Net assets, end of period (in millions)		$17		$12		$12		$12		$1
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.44		1.44		1.32		1.25		1.28
	Expenses including reductions	1.29		1.29		1.27		1.24		1.27
	Net investment income	0.83		0.81		0.95		2.80		1.12
Portfolio turnover (%)		63		55		82		123		93


		Total value at 10-31-17	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Investments in securities:
Assets
Common stocks
	China	$32,679,909	$10,257,101	$22,419,994	$2,814
	Hong Kong	14,127,328	—	14,127,328	—
	Taiwan	15,245,958	—	15,245,958	—
	United Kingdom	625,239	—	625,239	—
	United States	692,013	—	692,013	—
Total investments in securities		$63,370,447	$10,257,101	$53,110,532	$2,814


	October 31, 2017	October 31, 2016
Ordinary income	$626,016	$282,302
Long-term capital gains	—	3,930,715
Total	$626,016	$4,213,017


Class	Expense reduction	Class	Expense reduction
Class A	$44,756	Class I	$10,299
Class B	1,128	Class NAV	20,475
Class C	8,568	Total	$85,226


Class	Rule 12b-1 fee
Class A	0.30%
Class B	1.00%
Class C	1.00%


Class	Distribution and service fees	Transfer agent fees
Class A	$66,461	$34,963
Class B	7,623	894
Class C	57,602	6,736
Class I	—	5,353
Total	$131,686	$47,946



		Year ended 10-31-17					Year ended 10-31-16
	Shares			Amount		Shares			Amount
Class A shares
Sold	253,457			$5,539,019		121,296			$2,189,169
Distributions reinvested	18,679			327,821		135,553			2,381,673
Repurchased	(454,463		)	(9,267,293	)	(420,205		)	(7,356,783	)
Net decrease	(182,327		)	($3,400,453	)	(163,356		)	($2,785,941	)
Class B shares
Sold	2,037			$35,945		510			$8,605
Distributions reinvested	261			4,426		6,881			116,626
Repurchased	(25,056		)	(484,551	)	(52,914		)	(894,107	)
Net decrease	(22,758		)	($444,180	)	(45,523		)	($768,876	)
Class C shares
Sold	17,925			$372,727		24,216			$425,537
Distributions reinvested	1,605			27,175		23,947			406,141
Repurchased	(99,663		)	(2,028,424	)	(96,900		)	(1,594,021	)
Net decrease	(80,133		)	($1,628,522	)	(48,737		)	($762,343	)
Class I shares
Sold	324,724			$6,403,764		969,571			$18,202,550
Distributions reinvested	1,002			17,507		8,026			140,370
Repurchased	(306,382		)	(6,656,830	)	(932,026		)	(17,417,137	)
Net increase (decrease)	19,344			($235,559	)	45,571			$925,783
Class NAV shares
Distributions reinvested	10,877			192,632		51,536			913,730
Net increase	10,877			$192,632		51,536			$913,730
Total net decrease	(254,997		)	($5,516,082	)	(160,509		)	($2,477,647	)


Name, year of birth Position(s) held with Trust Principal occupation(s) and other directorships during past 5 years	Trustee of the Trust since¹	Number of John Hancock funds overseen by Trustee
Hassell H. McClellan, Born: 1945	2012	223
Trustee and Chairperson of the Board Director/Trustee, Virtus Funds (since 2008); Director, The Barnes Group (since 2010); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2014) and Chairperson of the Board (since 2017), John Hancock Collateral Trust; Trustee (since 2015) and Chairperson of the Board (since 2017), John Hancock Exchange-Traded Fund Trust; Trustee (since 2012) and Chairperson of the Board (since 2017), John Hancock retail funds³; Trustee (2005-2006 and since 2012) and Chairperson of the Board (since 2017), John Hancock Funds III; Trustee (since 2005) and Chairperson of the Board (since 2017), John Hancock Variable Insurance Trust and John Hancock Funds II.


Charles L. Bardelis,² Born: 1941	2012	223
Trustee Director, Island Commuter Corp. (marine transport). Trustee, John Hancock Collateral Trust (since 2014), Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust (since 1988); Trustee, John Hancock Funds II (since 2005).


Peter S. Burgess,² Born: 1942	2012	223
Trustee Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (since 2004); Director, Symetra Financial Corporation (2010-2016); Director, PMA Capital Corporation (2004-2010). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (since 2012); Trustee, John Hancock Funds III (2005-2006 and since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2005).


William H. Cunningham, Born: 1944	2005	223
Trustee Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Chairman (since 2009) and Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000); former Director, LIN Television (2009-2014). Trustee, John Hancock retail funds³ (since 1986); Trustee, John Hancock Variable Insurance Trust (since 2012); Trustee, John Hancock Funds II (2005-2006 and since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).


Grace K. Fey, Born: 1946	2012	223
Trustee Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988-2007); Director, Fiduciary Trust (since 2009). Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (since 2012); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2008).


Deborah C. Jackson, Born: 1952	2008	223
Trustee President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, National Association of Corporate Directors/New England (since 2015); Board of Directors, Association of Independent Colleges and Universities of Massachusetts (since 2014); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002-2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of American Student Assistance Corporation (1996-2009); Board of Directors of Boston Stock Exchange (2002-2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007-2011). Trustee, John Hancock retail funds³ (since 2008); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); and Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).


Steven R. Pruchansky, Born: 1944	2005	223
Trustee and Vice Chairperson of the Board Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (since 2000); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (since 2014); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992) and Chairperson of the Board (2011-2012), John Hancock retail funds³; Trustee and Vice Chairperson of the Board, John Hancock retail funds³ John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee and Vice Chairperson of the Board, John Hancock Collateral Trust (since 2014); Trustee and Vice Chairperson of the Board, John Hancock Exchange-Traded Fund Trust (since 2015).


James R. Boyle, Born: 1959	2015	223
Non-Independent Trustee Chairman and Chief Executive Officer, Zillion Group, Inc. (formerly HealthFleet, Inc.) (healthcare) (since 2014); Executive Vice President and Chief Executive Officer, U.S. Life Insurance Division of Genworth Financial, Inc. (insurance) (January 2014-July 2014); Senior Executive Vice President, Manulife Financial Corporation, President and Chief Executive Officer, John Hancock (1999-2012); Chairman and Director, John Hancock Advisers, LLC, John Hancock Funds, LLC, and John Hancock Investment Management Services, LLC (2005-2010). Trustee, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2015); Trustee, John Hancock retail funds³ (2005-2010; 2012-2014 and since 2015); Trustee, John Hancock Variable Insurance Trust and John Hancock Funds II (2005-2014 and since 2015).


Warren A. Thomson, Born: 1955	2012	223
Non-Independent Trustee Senior Executive Vice President and Chief Investment Officer, Manulife Financial Corporation and The Manufacturers Life Insurance Company (since 2009); Chairman, Manulife Asset Management (since 2001, including prior positions); Director and Chairman, Manulife Asset Management Limited (since 2006); Director and Chairman, Hancock Natural Resources Group, Inc. (since 2013). Trustee, John Hancock retail funds,³ John Hancock Variable Insurance Trust, and John Hancock Funds II (since 2012); Trustee, John Hancock Collateral Trust (since 2014); Trustee, John Hancock Exchange-Traded Fund Trust (since 2015).


Name, year of birth Position(s) held with Trust Principal occupation(s) during past 5 years	Officer of the Trust since
John J. Danello,Born: 1955	2014
Senior Vice President, Secretary, and Chief Legal Officer Vice President and Chief Counsel, John Hancock Wealth Management (since 2005); Senior Vice President (since 2007) and Chief Legal Counsel (2007-2010), John Hancock Funds, LLC and The Berkeley Financial Group, LLC; Senior Vice President (since 2006, including prior positions) and Chief Legal Officer and Secretary (since 2014), John Hancock retail funds,³ John Hancock Funds II and John Hancock Variable Insurance Trust; Senior Vice President, Secretary and Chief Legal Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014); Vice President, John Hancock Life & Health Insurance Company (since 2009); Vice President, John Hancock Life Insurance Company (USA) and John Hancock Life Insurance Company of New York (since 2010); and Senior Vice President, Secretary and Chief Legal Counsel (2007-2014, including prior positions) of John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC.


Francis V. Knox, Jr.,Born: 1947	2005
Chief Compliance Officer Vice President, John Hancock Financial Services (since 2005); Chief Compliance Officer, John Hancock retail funds,³ John Hancock Variable Insurance Trust, John Hancock Funds II, John Hancock Advisers, LLC, and John Hancock Investment Management Services, LLC (since 2005); Chief Compliance Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).


Charles A. Rizzo, Born: 1957	2007
Chief Financial Officer Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Advisers, LLC and John Hancock Investment Management Services, LLC (since 2008); Chief Financial Officer, John Hancock retail funds,³ John Hancock Variable Insurance Trust and John Hancock Funds II (since 2007); Chief Financial Officer, John Hancock Collateral Trust and John Hancock Exchange-Traded Fund Trust (since 2014).