China Foods : RESIGNATION OF EXECUTIVE DIRECTOR, APPOINTMENT OF EXECUTIVE DIRECTOR, CHANGE IN COMPOSITION OF THE EXECUTIVE COMMITTEE AND CHANGE OF AUTHORISED REPRESENTATIVE

RESIGNATION OF EXECUTIVE DIRECTOR

The board of directors (the "Board") of China Foods Limited (the "Company", together with its subsidiaries, the "Group") announces that Ms. LUAN Xiuju ("Ms. LUAN") has tendered her resignation as an executive director and the managing director of the Company, and will cease to act as the chairman of the executive committee (the "Executive Committee") of the Board and an authorised representative (the "Authorised Representative") of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules') with effect from 1 January 2020 due to retirement.

Ms. LUAN confirmed that she had no disagreement with the Board and there are no other matters that need to be brought to the attention of the shareholders of the Company in connection with her resignation.

The Board would like to take this opportunity to express its sincere gratitude to Ms. LUAN for her valuable contributions to the Company during her tenure of services.

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. QING Lijun ("Mr. QING") has been appointed as an executive director and the managing director of the Company with effect from 1 January 2020. The biographical details of Mr. QING are set out below.

Mr. QING Liqun

Mr. QING, 50, joined COFCO Corporation and/or its subsidiaries (the "COFCO Group") in July 1993 and has held various positions including the director of strategy department of COFCO Corporation during the period from July 2016 to March 2019. Mr. QING was the deputy general manager of COFCO Coca-Cola Beverages Limited ("COFCO Coca-Cola"), a 65%-owned subsidiary of the Company, during the period from December 2007 to June 2016. Mr. QING has concurrently served as the strategy planning director of COFCO Coca- Cola during the period April 2004 to March 2014. During the period from April 2004 to June 2016, Mr. QING has also concurrently served various positions including the director of the public relations department and the director of the finance department of COFCO Coca-Cola, the general manager of COFCO Coca-Cola Beverages (Shandong) Limited and the general manager of COFCO Coca-Cola Beverages (Beijing) Limited. Mr. QING has served as the deputy general manager of Jilin COFCO Coca-Cola Beverages Limited during the period from June 2002 to March 2004 and a sales operation manager of COFCO Coca-Cola during April 2000 to May 2002.

Mr. QING graduated from Renmin University of China and Guanghua School of Business Management of Peking University with a Bachelor's degree in Economics and a Master's degree in Business Administration, respectively. Mr. QING has extensive experience in beverage production, marketing, strategy planning, finance, public relations and general management.

Save as disclosed above, Mr. QING does not have any other relationship with any directors, senior management, or substantial or controlling shareholders of the Company, and has not held any directorship in other listed companies in the last three years.

2

Mr. QING will enter into a letter of appointment with the Company for term of three years commencing from 1 January 2020 subject to termination by giving three months' prior written notice. Mr. QING is also subject to retirement by rotation and re-election provisions in accordance with the bye-laws of the Company. Mr. QING is not entitled to any director's fee for serving as an executive director of the Company, but he is entitled to remuneration to be determined with reference to his duties and responsibilities in the Group, the prevailing market rate and the remuneration policy of the Company and to be reviewed by the remuneration committee of the Board of the Company.

As at the date of this announcement, Mr. QING does not have any interest in any shares or, underlying shares or debenture of the Company or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance.

Save as disclosed above, there is no other information in respect of the appointment of Mr. QING that is disclosureable pursuant to Rule 13.51(2) of the Listing Rules, nor are there any other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to express its warm welcome to Mr. QING for joining the Board.

CHANGE IN COMPOSITION OF THE EXECUTIVE COMMITTEE

The Board also announces that Mr. QING has been appointed as the chairman of the Executive Committee with effect from 1 January 2020.

CHANGE OF AUTHORISED REPRESENTATIVE

The Board further announces that Mr. QING was appointed as an Authorised Representative of the Company under Rule 3.05 of the Listing Rules with effect from 1 January 2020.

By Order of the Board

China Foods Limited

Chen Lang

Chairman

Beijing, 30 December 2020

As at the date of this announcement, the Board comprises: Mr. Chen Lang as the chairman of the Board and a non-executive director; Ms. Luan Xiuju and Mr. Shen Peng as executive directors; Ms. Xiao Jianping and Mr. Qin Yelong as non-executive directors; and Messrs. Stephen Edward Clark, Li Hung Kwan, Alfred and Mok Wai Bun, Ben as independent non- executive directors.

3