The Board of Jiayuan International Group Limited announced the following appointments: Mr. Zhang Yi was appointed as a vice chairman and an executive Director of the Company with effect from 17 February 2019; Mr. Shen Xiaodong was appointed as a non-executive Director of the Company with effect from 17 February 2019; and Mr. Zhang Yi was appointed as the president of the Company and Ms. Cheuk Hiu Nam ceased to be the chief executive officer of the Company with effect from 17 February 2019. Ms. Cheuk will remain as an executive Director. Mr. Zhang, aged 48, was appointed as a vice chairman, the president and an executive Director of the Company with effect from 17 February 2019.

Mr. Zhang has extensive experience in corporate management, industrial investment, mergers and acquisitions, operational integration and capital operation of listed companies. Mr. Shen is the son of Mr. Shum Tin Ching, the chairman, a non- executive Director and a controlling shareholder of the Company. Mr. Shen has over 10 years' experience in properties industry.

He was a vice president of the Group responsible for corporate strategy from October 2015 to February 2019. Mr. Zhang Yi was appointed as the president of the Company and Ms. Cheuk Hiu Nam ceased to be the chief executive officer of the Company with effect from 17 February 2019. Ms. Cheuk will remain as an executive Director.

Ms. Cheuk has confirmed to the Board that she has no disagreement with the Board in her capacity as the chief executive officer of the Company and that there is no matter that needs to be brought to the attention of the Stock Exchange or the shareholders of the Company in relation to the above arrangement.