Poly Property Development : PROPOSED CHANGE OF DIRECTOR CHANGE OF EMPLOYEE REPRESENTATIVE SUPERVISOR

Save as disclosed above, as at the date of this announcement, Mr. Liu has confirmed that, (i) he does not hold any other position in the Company and its subsidiaries (the "Group"); (ii) he has not held any directorship in any other companies listed on any securities market in Hong Kong or overseas in the last three years and does not have any other major appointments and qualifications; (iii) he does not have any relationships with any directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company; (iv) he does not have any interests in the shares of the Company and its associated corporations within the meaning of Part XV of the SFO.

Save as mentioned above, the Board is not aware of any other information in relation to the proposed appointment of Mr. Liu as a non-executive director of the Company that is required to be disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited and there are no any other matters that need to be brought to the attention of the Shareholders.

The Company further announces that Mr. Li Jiahe ("Mr. Li") tendered his resignation from the positions of executive director and member of the remuneration committee of the Company with effect from 27 August 2020 as he has reached his retirement age. Mr. Li has confirmed that he has no disagreement with the Board and there are no any other matter in relation to his resignation that should be brought to the attention of the Shareholders. The Company would like to express its sincere gratitude to Mr. Li for his contribution to the Company and the Board during his tenure.

A circular containing, among other things, (i) further details and other information on the proposed appointment of Mr. Liu as a non-executive director of the Company, and (ii) a notice convening the EGM will be despatched to the Shareholders in due course.

CHANGE OF EMPLOYEE REPRESENTATIVE SUPERVISOR

The Company is pleased to announce that Ms. Mu Jing ("Ms. Mu") has been elected as the employee representative supervisor of the Company at the meeting of the employee representatives of the Company. Her term of office will commence on 27 August 2020 and end on the date on which the term of office of the current session of the supervisory committee of the Company (the "Supervisory Committee") expires.

The biography of Ms. Mu is as follows:

Ms. Mu, aged 37, joined the Company in March 2016. From March 2016 to May 2020, she successively served as the deputy manager and the manager of the Administrative Office Department of the Company, and was primarily engaged in the administrative and back office services of the Company. Since May 2020, she has been serving as the manager of the Market Development Department in the Public Service Center of the Company, and is primarily engaged in the expansion and operation of the public service projects of the Company. Ms. Mu obtained her bachelor's degree in law from Hengyang Normal University in June 2011. She obtained Level 1 Human Resource Manager Qualification and Level 2 Counseling Psychologist Qualification in September 2013 and March 2018, respectively.

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The Company will enter into a service contract with Ms. Mu. Ms. Mu will not receive any supervisor's fee from the Company during her term of office. She will receive corresponding remuneration according to her specific management position in the Company.

Save as disclosed above, as at the date of this announcement, Ms. Mu has confirmed that:

1. she does not hold any other position in the Group; (ii) she has not held any directorship in any other companies listed on any securities market in Hong Kong or overseas in the last three years and does not have any other major appointments and qualifications; (iii) she does not have any relationships with any directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company; (iv) she does not have any other interests in the shares of the Company and its associated corporations within the meaning of Part XV of the SFO.

Save as mentioned above, the Board is not aware of any other information in relation to the appointment of Ms. Mu as the employee representative supervisor of the Company that is required to be disclosed pursuant to the requirements of Rule 13.51(2) of the Listing Rules and there are no any other matters that need to be brought to the attention of the Shareholders.

The Company further announces that, Ms. Chen Shuping ("Ms. Chen") ceased to act as the employee representative supervisor of the Company with effect from 27 August 2020 as she has reached her retirement age. Ms. Chen has confirmed that she has no disagreement with the Supervisory Committee and there are no other matters in relation to her resignation that should be brought to the attention of the Shareholders. The Company would like to express its sincere gratitude to Ms. Chen for her contribution to the Company and the Supervisory Committee during her tenure.

By order of the Board

POLY PROPERTY SERVICES CO., LTD.

Huang Hai

Chairman of the Board and non-executive Director

Guangzhou, PRC, 27 August 2020

As at the date of this announcement, the non-executive directors of the Company are Mr. Huang Hai and Mr. Hu Zaixin; the executive director of the Company is Ms. Wu Lanyu; and the independent non-executive directors of the Company are Mr. Wang Xiaojun, Ms. Tan Yan and Mr. Wang Peng.

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