John Hancock Investment Trust Iii N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811- 4630

John Hancock Investment Trust III
(Exact name of registrant as specified in charter)

601 Congress Street, Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Salvatore Schiavone
Treasurer

601 Congress Street

Boston, Massachusetts 02210
(Name and address of agent for service)

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

Date of fiscal year end:	October 31
Date of reporting period:	April 30, 2018

ITEM 1. REPORTS TO STOCKHOLDERS.

John Hancock

Greater China Opportunities Fund

Semiannual report 4/30/18

A message to shareholders

Dear shareholder,

Financial markets around the world experienced a meaningful rise in volatility in the last half of the reporting period. Stocks in developed international markets hit a rough patch after macroeconomic data began to suggest that the growth many investors were hoping for may not be as robust as early indications had suggested, but advanced for the period nonetheless. Many emerging markets advanced overall, thanks in large part to a weaker U.S. dollar and continued economic improvement in developing markets.

One of the challenges investors will face in the coming months is navigating the continued normalization of monetary policy. Stronger economies will continue to prompt global central banks to dial back the stimulus they had injected into the financial system in the years following the financial crisis, and this less-accommodative stance may represent an adjustment for many markets. 

Your best resource in unpredictable markets is your financial advisor, who can help position your portfolio so that it's sufficiently diversified to meet your long-term objectives and to withstand the inevitable turbulence along the way.

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 CEO,
John Hancock Investments
Head of Wealth and Asset Management,
United States and Europe

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.

John Hancock
Greater China Opportunities Fund

Table of contents

2	Your fund at a glance
4	Discussion of fund performance
8	A look at performance
10	Your expenses
12	Fund's investments
14	Financial statements
17	Financial highlights
22	Notes to financial statements
29	More information

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       1

Your fund at a glance

INVESTMENT OBJECTIVE

The fund seeks long-term capital appreciation.

AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/18 (%)

The MSCI Golden Dragon Index 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. Returns for periods shorter than one year are cumulative. 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.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       2

PERFORMANCE HIGHLIGHTS OVER THE LAST SIX MONTHS

Stocks in the Greater China region advanced

Despite escalating trade rhetoric between the United States and China, stocks in the Greater China region (China, Hong Kong, and Taiwan) posted positive returns as stronger economic growth provided a boost to corporate earnings.

The fund outperformed

The fund delivered a solid gain and outpaced its benchmark, the MSCI Golden Dragon Index.

Stock selection added value

Stock selection in the information technology and healthcare sectors contributed the most to the fund's outperformance of the benchmark.

SECTOR COMPOSITION AS OF 4/30/18 (%)

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 price of equity securities may decline due to changes in a company's financial condition or overall market conditions. 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.

SEMIANNUAL 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

How did stocks in the Greater China region perform during the six months ended April 30, 2018?

Equity markets in the Greater China region produced positive results, with most of the advance occurring in the first half of the period. Amid a strengthening global economic environment, China region stocks benefited from robust earnings. In addition, promising developments in the Chinese automotive industry and Taiwan's electronic component manufacturers helped drive these segments of the market higher.

However, stocks in the Greater China region declined during the last half of the period as escalating trade tariff rhetoric between China and the United States led to concerns about a potential trade war between the two countries. Weaker-than-expected earnings in early 2018 also weighed on many stocks in the region.

For the six-month period, the fund's benchmark, the MSCI Golden Dragon Index, returned 4.34%. Within the index, Hong Kong stocks generated the best returns, benefiting from continued demand from mainland China. The Chinese equity market also posted solid gains for the reporting period as China's economy remained on a path to recovery. Taiwan stocks declined modestly, in part because of a weaker currency versus the U.S. dollar.

In this environment, how did the fund perform?

The fund delivered a solid gain and outperformed its benchmark. Our stock selection process—which focuses on favorable growth prospects, recognized catalysts for change, and attractive valuations—was the key behind the fund's outperformance. Stock selection added value in all three markets represented in the portfolio. On a sector basis, security selection in the consumer staples and financials sectors contributed the most to performance.

What fund holdings were the most significant contributors to its outperformance of the index?

One of the leading contributors was Taiwanese personal products company TCI Company, Ltd., a health foods and beauty care manufacturer and distributor. The company benefited from the

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       4

"Stock selection added value in all three markets represented in the portfolio."

potential of its multiple growth engines—products, packaging innovation, and investment in niche functional-food ingredients (foods that are fortified, enriched, or enhanced). As e-commerce sales of health-related products in China expanded rapidly, orders from China increased sharply, and TCI was able to ramp up capacity quickly to meet the increased demand. As a result, the company delivered better-than-expected earnings, which helped its stock price more than double during the period.

In the information technology sector, Taiwanese electronic components manufacturer Yageo Corp. was a meaningful contributor to performance. Yageo makes passive components for smartphones and other consumer electronics, primarily in the low- to mid-price range. With many other suppliers in the region increasingly focused on higher-end components, Yageo was able to take market share and increase prices, enabling the company to outpace revenue and earnings expectations. We sold Yageo prior to period end.

Another strong contributor was Hong Kong biotechnology company Sino Biopharmaceutical, Ltd., which benefited from a broad sector rotation from information technology to healthcare during the period. In addition, the company has a strong drug development pipeline and will be launching a major new product in the first half of 2018. The anticipation of strong sales for this product was a key driver for the stock's strong rally during the period.

What portfolio holdings detracted from performance compared with the benchmark?

One of the major detractors in the portfolio during the period was FIT Hon Teng, Ltd., a Taiwan-based company that makes cables and connectors primarily for the smartphone industry. Slowing sales in China, particularly in its fiber-optic unit, led to a disappointing earnings report for the second half of 2017, and the stock price declined as a result.

Another manufacturer of connectivity products, BizLink Holding, Inc., detracted from fund

COUNTRY COMPOSITION AS OF 4/30/18 (%)

China	56.0
Taiwan	20.8
Hong Kong	19.5
United Kingdom	0.9
United States	0.8
Other assets and liabilities, net	2.0
TOTAL	100.0
As a percentage of net assets.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       5

"In general, stocks in the Greater China region are well positioned to benefit from continued progress toward long-term structural growth in the Chinese economy."

performance during the period. One of BizLink's largest customers is electric vehicle maker Tesla, Inc. (which the fund does not hold), where it is the exclusive supplier of wiring harnesses. Production challenges and delays for the Tesla 3 model weighed on BizLink's revenues and resulted in an earnings shortfall during the period.

Chinese life insurance firm New China Life Insurance Company, Ltd. was another noteworthy detractor. New China Life reported disappointing earnings for the second half of 2017 as the company faced new regulatory rules that discouraged the selling of short-term insurance policies. As time is needed for the agency sales force to get more training to sell longer-term insurance policies, premium growth for the company was lower than expected.

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

One theme that has been consistent in the portfolio is a focus on companies with significant exposure to the domestic Chinese economy. As trade negotiations between the United States and China take center stage, this emphasis should be increasingly important. Although we do not expect a full-blown trade war, we do anticipate an extended period of negotiation between the two countries. Consequently, we are reducing our exposure to companies and industries, such as textiles and selected technology hardware, that are more reliant on trade with the United States, and increasing our holdings of companies poised to benefit from the economic recovery story in China.

TOP 10 HOLDINGS AS OF 4/30/18 (%)

Tencent Holdings, Ltd.	9.4
Alibaba Group Holding, Ltd., ADR	8.3
Taiwan Semiconductor Manufacturing Company, Ltd.	7.2
China Construction Bank Corp., H Shares	4.3
Ping An Insurance Group Company of China, Ltd., H Shares	4.0
Industrial & Commercial Bank of China, Ltd., H Shares	3.9
AIA Group, Ltd.	3.5
Hong Kong Exchanges & Clearing, Ltd.	2.3
CNOOC, Ltd.	2.2
Weibo Corp., ADR	2.1
TOTAL	47.2
As a percentage of net assets.
Cash and cash equivalents are not included.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       6

In particular, we are focusing on stocks that will benefit from an upgrade in domestic consumption, greater innovation, and changing government policies.

From a sector perspective, we continue to see value in information technology stocks, although we lowered exposure to the sector over the past six months. We particularly favor internet provider companies, as they are largely domestically driven. We are focused on companies that are investing in future growth through increased investment in research and development, as well as companies that are generating strong returns on investment from their capital spending.

We are seeing value in the healthcare sector, particularly in China as new government policies to expand and improve healthcare services have led to expedited innovation from biopharmaceutical companies. A significant number of approvals for new medications, particularly in oncology, should also help drive growth in the sector.

In general, stocks in the Greater China region are well positioned to benefit from continued progress toward long-term structural growth in the Chinese economy. Though external risks remain, including trade issues with the United States, we continue to see healthy earnings growth and attractive valuations in the region's equity markets.

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.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       7

A look at performance

TOTAL RETURNS FOR THE PERIOD ENDED APRIL 30, 2018 

Average annual total returns (%) with maximum sales charge				Cumulative total returns (%) with maximum sales charge
	1-year	5-year	10-year	6-month	5-year	10-year
Class A	27.96	9.19	3.66	0.43	55.21	43.22
Class B	28.64	9.17	3.38	0.37	55.05	39.43
Class C	32.64	9.45	3.38	4.32	57.05	39.43
Class I1	35.09	10.72	4.41	5.94	66.41	54.02
Class NAV1	35.14	10.78	4.73	5.92	66.81	58.79
Index†	26.29	10.24	5.13	4.34	62.78	64.95

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. Net expenses reflect contractual expense limitations in effect until February 28, 2019 and are subject to change. 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.

SEMIANNUAL 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	4-30-08	13,943	13,943	16,495
Class C2	4-30-08	13,943	13,943	16,495
Class I1	4-30-08	15,402	15,402	16,495
Class NAV1	4-30-08	15,879	15,879	16,495

The MSCI Golden Dragon Index 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.

SEMIANNUAL 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 November 1, 2017, with the same investment held until April 30, 2018.

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 April 30, 2018, 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 November 1, 2017, with the same investment held until April 30, 2018. 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.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       10

SHAREHOLDER EXPENSE EXAMPLE CHART

		Account value on 11-1-2017	Ending value on 4-30-2018	Expenses paid during period ended 4-30-20181	Annualized expense ratio
Class A	Actual expenses/actual returns	$1,000.00	$1,057.10	$8.67	1.70%
	Hypothetical example for comparison purposes	1,000.00	1,016.40	8.50	1.70%
Class B	Actual expenses/actual returns	1,000.00	1,053.70	12.22	2.40%
	Hypothetical example for comparison purposes	1,000.00	1,012.90	11.98	2.40%
Class C	Actual expenses/actual returns	1,000.00	1,053.20	12.22	2.40%
	Hypothetical example for comparison purposes	1,000.00	1,012.90	11.98	2.40%
Class I	Actual expenses/actual returns	1,000.00	1,059.40	6.84	1.34%
	Hypothetical example for comparison purposes	1,000.00	1,018.10	6.71	1.34%
Class NAV	Actual expenses/actual returns	1,000.00	1,059.20	6.64	1.30%
	Hypothetical example for comparison purposes	1,000.00	1,018.30	6.51	1.30%

1 Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       11

Fund’s investments

AS OF 4-30-18 (unaudited)

	Shares	Value
Common stocks 98.0%		$60,790,256
(Cost $38,267,653)
China 56.0%		34,756,789
Alibaba Group Holding, Ltd., ADR (A)	28,870	5,154,450
China Animal Healthcare, Ltd. (A)(B)	1,590,000	119,524
China CITIC Bank Corp., Ltd., H Shares	851,000	608,336
China Construction Bank Corp., H Shares	2,539,000	2,660,006
China Longyuan Power Group Corp., Ltd., H Shares	588,000	577,546
China Molybdenum Company, Ltd., H Shares (A)	909,000	683,084
China National Building Material Company, Ltd., H Shares	816,000	953,328
China Oilfield Services, Ltd., H Shares	668,000	666,461
China Petroleum & Chemical Corp., H Shares	810,000	788,826
China Vanke Company, Ltd., H Shares	157,000	648,857
CNOOC, Ltd.	805,000	1,361,830
ENN Energy Holdings, Ltd.	108,000	1,009,965
Fosun International, Ltd.	340,000	722,498
Geely Automobile Holdings, Ltd.	219,000	575,977
Industrial & Commercial Bank of China, Ltd., H Shares	2,764,500	2,426,904
iQIYI, Inc., ADR (A)	36,752	662,639
Microport Scientific Corp.	1,000,000	1,164,509
Minth Group, Ltd.	148,000	702,722
New China Life Insurance Company, Ltd., H Shares	146,400	682,576
New Oriental Education & Technology Group, Inc., ADR	6,000	539,040
Ping An Healthcare and Technology Company, Ltd. (A)(B)(C)	3,200	22,343
Ping An Insurance Group Company of China, Ltd., H Shares	251,000	2,452,621
Shanghai Fosun Pharmaceutical Group Company, Ltd., H Shares	198,500	1,076,731
Tencent Holdings, Ltd.	118,000	5,801,225
Vipshop Holdings, Ltd., ADR (A)	45,478	703,999
Weibo Corp., ADR (A)	11,528	1,320,187
Yum China Holdings, Inc.	15,683	670,605
Hong Kong 19.5%		12,075,115
AIA Group, Ltd.	244,400	2,184,252
BOC Hong Kong Holdings, Ltd.	128,500	664,284
China Everbright Greentech, Ltd. (A)(C)	757,000	706,432
China Gas Holdings, Ltd.	224,600	795,910
China Overseas Land & Investment, Ltd.	182,000	609,815
CK Asset Holdings, Ltd.	113,080	976,214
Galaxy Entertainment Group, Ltd.	96,000	840,253
Hong Kong Exchanges & Clearing, Ltd.	44,000	1,425,360
Kingboard Laminates Holdings, Ltd.	231,000	307,898
Shangri-La Asia, Ltd.	324,000	630,542
Sino Biopharmaceutical, Ltd.	255,000	536,982
Sun Art Retail Group, Ltd.	912,500	1,025,606
Swire Properties, Ltd.	213,200	756,751

12 JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND | SEMIANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS

	Shares	Value
Hong Kong (continued)
Wharf Real Estate Investment Company, Ltd.	82,000	$614,816
Taiwan 20.8%		12,896,316
Chailease Holding Company, Ltd.	180,000	656,771
Ennoconn Corp.	40,000	647,273
FIT Hon Teng, Ltd. (C)	1,335,000	512,244
Formosa Chemicals & Fibre Corp.	162,000	595,212
Foxsemicon Integrated Technology, Inc.	80,650	522,724
Globalwafers Company, Ltd.	51,000	822,760
Gourmet Master Company, Ltd.	43,000	495,465
MediaTek, Inc.	72,000	818,900
Parade Technologies, Ltd.	29,000	449,059
Ruentex Industries, Ltd. (A)	257,000	497,964
St. Shine Optical Company, Ltd.	21,000	563,017
Taiwan Semiconductor Manufacturing Company, Ltd.	585,089	4,456,823
Taiwan Union Technology Corp.	206,000	571,259
TCI Company, Ltd.	45,291	664,487
Win Semiconductors Corp.	83,000	622,358
United Kingdom 0.9%		541,937
HSBC Holdings PLC	54,400	541,937
United States 0.8%		520,099
Bizlink Holding, Inc.	70,432	520,099
Total investments (Cost $38,267,653) 98.0%		$60,790,256
Other assets and liabilities, net 2.0%		1,248,354
Total net assets 100.0%		$62,038,610

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 and is classified as Level 3 in the fair value hierarchy.
(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.

At 4-30-18, the aggregate cost of investments for federal income tax purposes was $38,267,653. Net unrealized appreciation aggregated to $22,522,603, of which $24,081,954 related to gross unrealized appreciation and $1,559,351 related to gross unrealized depreciation.

SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT | JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND 13

Financial statements

STATEMENT OF ASSETS AND LIABILITIES 4-30-18 (unaudited)

Assets
Investments, at value (Cost $38,267,653)	$60,790,256
Cash	735,730
Foreign currency, at value (Cost $453,836)	451,532
Receivable for fund shares sold	110,432
Dividends and interest receivable	30,103
Receivable due from advisor	2,482
Other receivables and prepaid expenses	57,598
Total assets	62,178,133
Liabilities
Payable for investments purchased	22,568
Payable for fund shares repurchased	52,356
Payable to affiliates
Accounting and legal services fees	7,701
Transfer agent fees	4,992
Distribution and service fees	15,231
Trustees' fees	203
Other liabilities and accrued expenses	36,472
Total liabilities	139,523
Net assets	$62,038,610
Net assets consist of
Paid-in capital	$34,787,020
Accumulated distributions in excess of net investment income	(483,628	)
Accumulated net realized gain (loss) on investments and foreign currency transactions	5,214,918
Net unrealized appreciation (depreciation) on investments and translation of assets and liabilities in foreign currencies	22,520,300
Net assets	$62,038,610
Net asset value per share
Based on net asset value and shares outstanding - The fund has an unlimited number of shares authorized with no par value
Class A ($38,517,939 ÷ 1,497,161 shares)1	$25.73
Class B ($595,610 ÷ 24,214 shares)1	$24.60
Class C ($5,935,651 ÷ 241,254 shares)1	$24.60
Class I ($6,565,003 ÷ 256,191 shares)	$25.63
Class NAV ($10,424,407 ÷ 400,761 shares)	$26.01
Maximum offering price per share
Class A (net assets value per share ÷ 95%)2	$27.08

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

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       14

STATEMENT OF OPERATIONS  For the six months ended 4-30-18 (unaudited)

Investment income
Dividends		$90,337
Interest		2,417
Total investment income		92,754
Expenses
Investment management fees		342,564
Distribution and service fees		92,468
Accounting and legal services fees		7,780
Transfer agent fees		28,309
Trustees' fees		712
State registration fees		33,976
Printing and postage		20,616
Professional fees		21,509
Custodian fees		28,512
Other		7,337
Total expenses		583,783
Less expense reductions		(21,267	)
Net expenses		562,516
Net investment loss		(469,762	)
Realized and unrealized gain (loss)
Net realized gain (loss) on
Investments and foreign currency transactions		5,216,263
		5,216,263
Change in net unrealized appreciation (depreciation) of
Investments and translation of assets and liabilities in foreign currencies		(867,736	)
		(867,736	)
Net realized and unrealized gain	��	4,348,527
Increase in net assets from operations		$3,878,765

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       15

STATEMENTS OF CHANGES IN NET ASSETS 

	Six months ended 4-30-18		Year ended 10-31-17
	(unaudited)
Increase (decrease) in net assets
From operations
Net investment income (loss)	($469,762	)	$269,264
Net realized gain	5,216,263		4,741,316
Change in net unrealized appreciation (depreciation)	(867,736	)	12,171,592
Increase in net assets resulting from operations	3,878,765		17,182,172
Distributions to shareholders
From net investment income
Class A	(130,313	)	(344,884	)
Class B	—		(4,744	)
Class C	—		(33,201	)
Class I	(34,290	)	(50,555	)
Class NAV	(115,414	)	(192,632	)
From net realized gain
Class A	(1,455,280	)	—
Class B	(27,758	)	—
Class C	(250,189	)	—
Class I	(205,678	)	—
Class NAV	(660,111	)	—
Total distributions	(2,879,033	)	(626,016	)
From fund share transactions	(2,827,636	)	(5,516,082	)
Total increase (decrease)	(1,827,904	)	11,040,074
Net assets
Beginning of period	63,866,514		52,826,440
End of period	$62,038,610		$63,866,514
Undistributed (accumulated distributions in excess of) net investment income	($483,628	)	$266,151

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       16

Financial highlights

Class A Shares Period ended		4-30-18	1	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		$25.42		$19.11		$19.46		$22.73		$21.70		$17.99
Net investment income (loss)2		(0.19	)	0.09		0.06		0.09		0.24		0.12
Net realized and unrealized gain (loss) on investments		1.60		6.45		1.05		(1.18	)	1.13		3.65
Total from investment operations		1.41		6.54		1.11		(1.09	)	1.37		3.77
Less distributions
From net investment income		(0.09	)	(0.23	)	(0.09	)	(0.27	)	(0.16	)	(0.06	)
From net realized gain		(1.01	)	—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(1.10	)	(0.23	)	(1.46	)	(2.18	)	(0.34	)	(0.06	)
Net asset value, end of period		$25.73		$25.42		$19.11		$19.46		$22.73		$21.70
Total return (%)3,4		5.71	5	34.74		6.38		(4.82	)	6.39		21.01
Ratios and supplemental data
Net assets, end of period (in millions)		$39		$36		$30		$34		$47		$46
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.75	6	1.78		1.86		1.75		1.71		1.74
	Expenses including reductions	1.70	6	1.63		1.72		1.71		1.71		1.74
	Net investment income (loss)	(1.42	) 6	0.44		0.32		0.44		1.10		0.60
Portfolio turnover (%)		24		63		55		82		123		93

1	Six months ended 4-30-18. Unaudited.
2	Based on average daily shares outstanding.
3	Does not reflect the effect of sales charges, if any.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5	Not annualized.
6	Annualized.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       17

Class B Shares Period ended		4-30-18	1	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		$24.34		$18.32		$18.75		$21.93		$20.97		$17.49
Net investment income (loss)2		(0.27	)	(0.09	)	(0.10	)	(0.12	)	0.01		(0.08	)
Net realized and unrealized gain (loss) on investments		1.54		6.21		1.04		(1.07	)	1.13		3.56
Total from investment operations		1.27		6.12		0.94		(1.19	)	1.14		3.48
Less distributions
From net investment income		—		(0.10	)	—		(0.08	)	—		—
From net realized gain		(1.01	)	—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(1.01	)	(0.10	)	(1.37	)	(1.99	)	(0.18	)	—
Net asset value, end of period		$24.60		$24.34		$18.32		$18.75		$21.93		$20.97
Total return (%)3,4		5.37	5	33.68		5.61		(5.51	)	5.44		19.90
Ratios and supplemental data
Net assets, end of period (in millions)		$1		$1		$1		$2		$5		$8
Ratios (as a percentage of average net assets):
	Expenses before reductions	2.46	6	2.56		2.56		2.62		2.67		2.67
	Expenses including reductions	2.40	6	2.41		2.42		2.47		2.59		2.67
	Net investment income (loss)	(2.13	) 6	(0.48	)	(0.56	)	(0.58	)	0.06		(0.39	)
Portfolio turnover (%)		24		63		55		82		123		93

1	Six months ended 4-30-18. Unaudited.
2	Based on average daily shares outstanding.
3	Does not reflect the effect of sales charges, if any.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5	Not annualized.
6	Annualized.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       18

Class C Shares Period ended		4-30-18	1	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		$24.35		$18.33		$18.75		$21.92		$20.96		$17.48
Net investment income (loss)2		(0.27	)	(0.08	)	(0.08	)	(0.06	)	0.05		(0.05	)
Net realized and unrealized gain (loss) on investments		1.53		6.20		1.03		(1.13	)	1.09		3.53
Total from investment operations		1.26		6.12		0.95		(1.19	)	1.14		3.48
Less distributions
From net investment income		—		(0.10	)	—		(0.07	)	—		—
From net realized gain		(1.01	)	—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(1.01	)	(0.10	)	(1.37	)	(1.98	)	(0.18	)	—
Net asset value, end of period		$24.60		$24.35		$18.33		$18.75		$21.92		$20.96
Total return (%)3,4		5.32	5	33.66		5.66		(5.51	)	5.45		19.91
Ratios and supplemental data
Net assets, end of period (in millions)		$6		$6		$6		$7		$9		$11
Ratios (as a percentage of average net assets):
	Expenses before reductions	2.46	6	2.56		2.56		2.51		2.58		2.62
	Expenses including reductions	2.40	6	2.41		2.42		2.47		2.57		2.62
	Net investment income (loss)	(2.12	) 6	(0.38	)	(0.44	)	(0.30	)	0.24		(0.27	)
Portfolio turnover (%)		24		63		55		82		123		93

1	Six months ended 4-30-18. Unaudited.
2	Based on average daily shares outstanding.
3	Does not reflect the effect of sales charges, if any.
4	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5	Not annualized.
6	Annualized.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       19

Class I Shares Period ended		4-30-18	1	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		$25.35		$19.08		$19.44		$22.72		$21.71		$17.96
Net investment income (loss)2		(0.14	)	0.21		0.13		0.23		0.45		0.17
Net realized and unrealized gain (loss) on investments		1.60		6.35		1.05		(1.25	)	1.01		3.69
Total from investment operations		1.46		6.56		1.18		(1.02	)	1.46		3.86
Less distributions
From net investment income		(0.17	)	(0.29	)	(0.17	)	(0.35	)	(0.27	)	(0.11	)
From net realized gain		(1.01	)	—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(1.18	)	(0.29	)	(1.54	)	(2.26	)	(0.45	)	(0.11	)
Net asset value, end of period		$25.63		$25.35		$19.08		$19.44		$22.72		$21.71
Total return (%)3		5.94	4	35.09		6.74		(4.43	)	6.79		21.57
Ratios and supplemental data
Net assets, end of period (in millions)		$7		$5		$3		$2		$4		$1
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.46	5	1.54		1.55		1.57		2.14		2.79
	Expenses including reductions	1.34	5	1.34		1.34		1.34		1.34		1.31
	Net investment income (loss)	(1.07	) 5	1.02		0.70		1.06		2.02		0.85
Portfolio turnover (%)		24		63		55		82		123		93

1	Six months ended 4-30-18. Unaudited.
2	Based on average daily shares outstanding.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4	Not annualized.
5	Annualized.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       20

Class NAV Shares Period ended		4-30-18	1	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		$25.72		$19.35		$19.70		$22.98		$21.95		$18.18
Net investment income (loss)2		(0.14	)	0.17		0.15		0.20		0.62		0.23
Net realized and unrealized gain (loss) on investments		1.62		6.50		1.05		(1.21	)	0.87		3.67
Total from investment operations		1.48		6.67		1.20		(1.01	)	1.49		3.90
Less distributions
From net investment income		(0.18	)	(0.30	)	(0.18	)	(0.36	)	(0.28	)	(0.13	)
From net realized gain		(1.01	)	—		(1.37	)	(1.91	)	(0.18	)	—
Total distributions		(1.19	)	(0.30	)	(1.55	)	(2.27	)	(0.46	)	(0.13	)
Net asset value, end of period		$26.01		$25.72		$19.35		$19.70		$22.98		$21.95
Total return (%)3		5.92	4	35.17		6.81		(4.36	)	6.88		21.53
Ratios and supplemental data
Net assets, end of period (in millions)		$10		$17		$12		$12		$12		$1
Ratios (as a percentage of average net assets):
	Expenses before reductions	1.35	5	1.44		1.44		1.32		1.25		1.28
	Expenses including reductions	1.30	5	1.29		1.29		1.27		1.24		1.27
	Net investment income (loss)	(1.05	) 5	0.83		0.81		0.95		2.80		1.12
Portfolio turnover (%)		24		63		55		82		123		93

1	Six months ended 4-30-18. Unaudited.
2	Based on average daily shares outstanding.
3	Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4	Not annualized.
5	Annualized.

SEE NOTES TO FINANCIAL STATEMENTS

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       21

Notes to financial statements (unaudited)

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 by the fund 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, retirement plans for employees of John Hancock and/or Manulife Financial Corporation, 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. Effective May 1, 2018, Class C shares convert to Class A shares ten years after purchase (certain exclusions may apply).

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

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       22

includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar 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 April 30, 2018, by major security category or type:

		Total value at 4-30-18	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Investments in securities:
Assets
Common stocks
	China	$34,756,789	$9,050,920	$25,564,002	$141,867
	Hong Kong	12,075,115	—	12,075,115	—
	Taiwan	12,896,316	—	12,896,316	—
	United Kingdom	541,937	—	541,937	—
	United States	520,099	—	520,099	—
Total investments in securities		$60,790,256	$9,050,920	$51,597,469	$141,867

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 investing. 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. Foreign investments are 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.

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.

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 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.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       23

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. For the six months ended April 30, 2018, the fund had no borrowings under the line of credit. Commitment fees for six months ended April 30, 2018 were $1,472.

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 typically declares and pays dividends and capital gain distributions, if any, at least annually.

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.

Such distributions, 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. The final determination of tax characteristics of the fund's distribution will occur at the end of the year and will subsequently be reported to shareholders.

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 Trust, including 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.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       24

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 six months ended April 30, 2018, this waiver amounted to 0.01% of the fund's average net assets (on an annualized basis). 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, 2019, 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, 2019, 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 six months ended April 30, 2018, the expense reductions described above amounted to the following:

Class	Expense reduction	Class	Expense reduction
Class A	$11,128	Class I	$3,738
Class B	192	Class NAV	4,435
Class C	1,774	Total	$21,267

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

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the six months ended April 30, 2018 were equivalent to a net annual effective rate of 0.94% of the fund's average daily net assets.

Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, 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 six months ended April 30, 2018 amounted to an annual rate of 0.02% of the fund's average daily net assets.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       25

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 $32,846 for the six months ended April 30, 2018. Of this amount, $5,363 was retained and used for printing prospectuses, advertising, sales literature and other purposes, $26,594 was paid as sales commissions to broker-dealers and $889 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 six months ended April 30, 2018, CDSCs received by the Distributor amounted to $34 and $543 for Class B and Class C shares, respectively. There were no CDSCs for Class A shares during the six months ended April 30, 2018.

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.

Class level expenses. Class level expenses for the six months ended April 30, 2018 were:

Class	Distribution and service fees	Transfer agent fees
Class A	$57,621	$21,189
Class B	3,443	372
Class C	31,404	3,397
Class I	—	3,351
Total	$92,468	$28,309

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.

Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       26

credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. Interest expense is included in Other expenses on the Statement of operations. The fund's activity in this program during the period for which loans were outstanding was as follows:

Borrower or lender	Weighted average loan balance	Days outstanding	Weighted average interest rate	Interest expense
Borrower	$6,142,676	4	1.710%	($1,167)

Note 5 — Fund share transactions

Transactions in fund shares for the six months ended April 30, 2018 and for the year ended October 31, 2017 were as follows:

		Six months ended 4-30-18					Year ended 10-31-17
	Shares			Amount		Shares			Amount
Class A shares
Sold	233,548			$6,233,083		253,457			$5,539,019
Distributions reinvested	60,500			1,502,208		18,679			327,821
Repurchased	(200,991		)	(5,370,802	)	(454,463		)	(9,267,293	)
Net increase (decrease)	93,057			$2,364,489		(182,327		)	($3,400,453	)
Class B shares
Sold	832			$21,559		2,037			$35,945
Distributions reinvested	1,104			26,276		261			4,426
Repurchased	(6,768		)	(171,924	)	(25,056		)	(484,551	)
Net decrease	(4,832		)	($124,089	)	(22,758		)	($444,180	)
Class C shares
Sold	15,209			$388,247		17,925			$372,727
Distributions reinvested	9,735			231,784		1,605			27,175
Repurchased	(31,607		)	(800,390	)	(99,663		)	(2,028,424	)
Net decrease	(6,663		)	($180,359	)	(80,133		)	($1,628,522	)
Class I shares
Sold	107,212			$2,873,669		324,724			$6,403,764
Distributions reinvested	8,571			211,691		1,002			17,507
Repurchased	(43,323		)	(1,151,258	)	(306,382		)	(6,656,830	)
Net increase (decrease)	72,460			$1,934,102		19,344			($235,559	)
Class NAV shares
Sold	16,590			$433,216		—			—
Distributions reinvested	30,934			775,525		10,877			192,632
Repurchased	(299,040		)	(8,030,520	)	—			—
Net increase (decrease)	(251,516		)	($6,821,779	)	10,877			$192,632
Total net decrease	(97,494		)	($2,827,636	)	(254,997		)	($5,516,082	)

Affiliates of the fund owned less than 1% and 100% of shares of Class I and Class NAV, respectively, on April 30, 2018. 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 $16,321,333 and $23,250,491, respectively, for the six months ended April 30, 2018.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       27

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 manyways as emerging markets, and carry the high levels of risks associatedwith 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 April 30, 2018, 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 16.8% of the fund's net assets.

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       28

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

*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

SEMIANNUAL REPORT   |   JOHN HANCOCK GREATER CHINA OPPORTUNITIES FUND       29

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 Growth
Small Cap Value
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
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 Long/Short
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
Multi-Index Lifetime Portfolios
Multi-Index Preservation Portfolios
Multimanager Lifestyle Portfolios
Multimanager Lifetime Portfolios
Retirement Income 2040
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.
	MF450367	08SA 4/18 6/18

ITEM 2. CODE OF ETHICS.

Not applicable at this time.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable at this time.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable at this time.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable at this time.

ITEM 6. SCHEDULE OF INVESTMENTS.

(a) Not applicable.

(b) Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

The registrant has adopted procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached “John Hancock Funds – Nominating, Governance and Administration Committee Charter.”

ITEM 11. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b) There were no changes in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.: Not applicable.

ITEM 13. EXHIBITS.

(a) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.

(b) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.

(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached “John Hancock Funds – Nominating, Governance and Administration Committee Charter.”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Investment Trust III

By:	/s/ Andrew Arnott
	Andrew Arnott
	President
Date:	June 15, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Andrew Arnott
	Andrew Arnott President
Date:	June 15, 2018
By:	/s/ Charles A. Rizzo
	Charles A. Rizzo Chief Financial Officer
Date:	June 15, 2018