CIFI : APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND EXECUTIVE DIRECTORS

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CIFI Holdings (Group) Co. Ltd.

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(Incorporated in the Cayman Islands with limited liability)

(Stock code: 00884)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

AND

EXECUTIVE DIRECTORS

The Board announces that with effect from 18 December 2017, Mr. ZHOU Yimin was appointed as a non-executive director of the Company, and Mr. CHEN Dongbiao and Mr. YANG Xin were appointed as executive directors of the Company.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Reference is made to the announcements of CIFI Holdings (Group) Co. Ltd. (the "Company", together with its subsidiaries, the "Group") dated 27 July 2017 and 10 August 2017 respectively regarding subscription of 545,000,000 shares of the Company by Ping An Life Insurance Company of China, Ltd. ("Ping An Investor") which was completed on 10 August 2017. As at the date of this announcement, Ping An Investor together with its associates (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Listing Rules")) hold approximately 9.86% of the total issued share capital of the Company. As disclosed in the announcement of the Company dated 27 July 2017, Ping An Investor would have the right to nominate for appointment a person designated by Ping An Investor as a non-executive member of the board (the "Board") of directors (the "Directors") of the Company.

The Board would like to announce that Mr. ZHOU Yimin ("Mr. Zhou"), who was nominated by Ping An Investor, was appointed as a non-executive Director with effect from 18 December 2017.

Below is the biographical information of Mr. Zhou.

Mr. Zhou, aged 59, is the chairman and chief executive officer of Ping An Real Estate Company Limited. He joined Ping An Insurance (Group) Company of China, Ltd., the parent company of Ping An Investor, in early 2010 after spending more than 12 years in Sun Hung Kai Properties Limited, one of the largest global real estate developers headquartered in Hong Kong. During his time at Sun Hung Kai Properties Limited, Mr. Zhou was the director and general manager of Sun Hung Kai Real Estate Development (China) Limited, overseeing its real estate business in the China market and the significant growth in its land bank and investment portfolio. Prior to his term at Sun Hung Kai Properties Limited, Mr. Zhou was the vice chairman of Chu Kong Shipping Enterprises (Group) Co., Ltd. (formerly known as 'Chu Kong Shipping Development Co., Ltd'), which was successfully listed on the Stock Exchange in 1997. He is currently a non-executive director, a member of the audit committee and a member of the nomination committee of Landsea Green Properties Co., Ltd. (SEHK stock code: 106). Mr. Zhou graduated from Fudan University with a doctorate degree.

Mr. Zhou entered into an appointment letter with the Company as a non-executive Director for an initial term of three years commencing from 18 December 2017. He is subject to retirement and re-election at the next following annual general meeting of the Company after his appointment and thereafter, subject to retirement by rotation and re-election at an annual general meeting of the Company at least once every three years in accordance with the Articles of Association of the Company (the "Articles of Association"). The appointment of Mr. Zhou as a non-executive Director can be terminated by the Company or Mr. Zhou with three months' notice in writing. Mr. Zhou is not entitled to any director's fee as a non-executive Director.

Save as disclosed above, Mr. Zhou (i) has not held any other positions with any members of the Group; (ii) is not related to any Directors, senior management or substantial shareholders or the controlling shareholders (has the meaning as defined under the Listing Rules) of the Company; (iii) is not interested in the shares of the Company (the "Shares") within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO"); and (iv) has not held any other directorships in any other listed public companies in the last three years as at the date of this announcement.

Save as disclosed herein, there are no other matters relating to the appointment of Mr. Zhou that need to be brought to the attention of the shareholders of the Company or are required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.

APPOINTMENT OF EXECUTIVE DIRECTORS

The Board would like to announce that Mr. CHEN Dongbiao ("Mr. Chen") and Mr. YANG Xin ("Mr. Yang") were appointed as executive Directors with effect from 18 December 2017. Below is their biographical information.

Mr. CHEN Dongbiao

Mr. Chen, aged 50, is the executive vice president of the Group, responsible for management of brand, customer relationship, operations, construction, and procurement and cost. Mr. Chen joined the Group in August 2013, and is currently a director of certain subsidiaries of the Group. Prior to joining the Group, Mr. Chen worked for China Vanke Co., Ltd., as director of Engineering, and general manager and chairman of Shanghai Vanke Real Estate Co., Ltd. Mr. Chen was a representative of Shanghai Pudong District People's Congress from 1997 to 2002 and the rotating chairman of Shanghai Real Estate Trade Association from 2011 to 2012. Mr. Chen graduated from Shanghai City Construction Institute with a bachelor's degree in engineering, and further obtained a master of business administration degree from China Europe International Business School.

Mr. Chen entered into a service contract with the Company as an executive Director for an initial term of three years commencing from 18 December 2017. He is subject to retirement and re-election at the next following annual general meeting of the Company after his appointment and thereafter, subject to retirement by rotation and re-election at an annual general meeting of the Company at least once every three years in accordance with the Articles of Association. The appointment of Mr. Chen as an executive Director can be terminated by the Company or Mr. Chen with three months' notice in writing. Mr. Chen is entitled to a basic salary of RMB3,251,600 per annum as well as a discretionary bonus, but he is not entitled to any director's fee. The director's emoluments of Mr. Chen were determined by the Board based on the recommendations of the remuneration committee of the Company, with reference to his duties and responsibilities with the Company and the prevailing market rate for his positions.

As at the date of this announcement, Mr. Chen has interest in share options granted to subscribe for 21,530,000 Shares under the Company's share option scheme and 6,718,000 Shares within the meaning of Part XV of the SFO.

Save as disclosed above, Mr. Chen (i) is not related to any other Director, senior management, substantial shareholders or controlling shareholders (has the meaning as defined under the Listing Rules) of the Company or other members of the Group; (ii) is not interested in the Shares within the meaning of Part XV of the SFO; and (iii) has not held any other directorships in any other listed public companies in the last three years as at the date of this announcement.

Save as disclosed herein, there are no other matters relating to the appointment of Mr. Chen that need to be brought to the attention of the shareholders of the Company or are required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.

Mr. YANG Xin

Mr. Yang, aged 44, is the president assistant and the general manager of Finance Center of the Group. Mr. Yang joined the Group in July 2010, and is currently a director of certain subsidiaries of the Group. He has experience in banking and finance. Prior to joining the Group, he worked in various management positions at Agricultural Bank of China Limited. Mr. Yang had been a director of Yongsheng Property Service Co., Ltd. (NEEQ stock code: 871385), the shares of which are quoted on National Equities Exchange and Quotations ("NEEQ"), and resigned on 11 December 2017. Mr. Yang graduated from Shanghai Jiao Tong University with a bachelor's degree in international finance and further obtained a master of business administration degree. He also obtained a master degree in accounting from Shanghai National Accounting Institute. Mr. Yang also holds the Senior International Finance Manager qualification issued by International Financial Management Association.

Mr. Yang entered into a service contract with the Company as an executive Director for an initial term of three years commencing from 18 December 2017. He is subject to retirement and re-election at the next following annual general meeting of the Company after his appointment and thereafter, subject to retirement by rotation and re-election at an annual general meeting of the Company at least once every three years in accordance with the Articles of Association. The appointment of Mr. Yang as an executive Director can be terminated by the Company or Mr. Yang with three months' notice in writing. Mr. Yang is entitled to a basic salary of RMB1,707,200 per annum as well as a discretionary bonus, but he is not entitled to any director's fee. The director's emoluments of Mr. Yang were determined by the Board based on the recommendations of the remuneration committee of the Company, with reference to his duties and responsibilities with the Company and the prevailing market rate for his positions.

As at the date of this announcement, Mr. Yang has interest in share options granted to subscribe for 8,000,000 Shares under the Company's share option scheme and 4,998,254 Shares within the meaning of Part XV of the SFO.

Save as disclosed above, Mr. Yang (i) is not related to any other Director, senior management, substantial shareholders or controlling shareholders (has the meaning as defined under the Listing Rules) of the Company or other members of the Group; (ii) is not interested in the Shares within the meaning of Part XV of the SFO; and (iii) has not held any other directorships in any other listed public companies in the last three years as at the date of this announcement.

Save as disclosed herein, there are no other matters relating to the appointment of Mr. Yang that need to be brought to the attention of the shareholders of the Company or are required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.

By order of the Board CIFI Holdings (Group) Co. Ltd.

LIN Zhong Chairman

Hong Kong, 18 December 2017

As at the date of this announcement, the Board comprises Mr. LIN Zhong, Mr. LIN Wei, Mr. LIN Feng, Mr. CHEN Dongbiao and Mr. YANG Xin as executive Directors; Mr. ZHOU Yimin as non-executive Director; and Mr. GU Yunchang, Mr. ZHANG Yongyue and Mr. TAN Wee Seng as independent non-executive Directors.