China Wan Tong Yuan : (1) CHANGE OF DIRECTORS;(2) CHANGE OF COMPANY SECRETARY, AUTHORISED REPRESENTATIVE AND AGENT FOR SERVICE OF PROCESS IN HONG KONG; AND (3) CHANGE OF CHIEF FINANCIAL OFFICER

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA WAN TONG YUAN (HOLDINGS) LIMITED ʕ ਷ ຬ ࣶ ෤€ છ ٰ Ϟ ࠢ ʮ ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 6966)

(1) CHANGE OF DIRECTORS;

(2) CHANGE OF COMPANY SECRETARY, AUTHORISED REPRESENTATIVE AND AGENT FOR SERVICE OF PROCESS IN HONG KONG; AND

(3) CHANGE OF CHIEF FINANCIAL OFFICER

The Board announces that:

• (1) Mr. Huang Guangming (黃廣明) has tendered his resignation as an executive Director with effect from 29 March 2021;

• (2) Ms. Wang Wei (王薇) and Mr. Huang Peikun (黃培坤) have been appointed as executive Directors with effect from 29 March 2021;

• (3) Mr. Tang Chun Man Adam (鄧峻文) has tendered his resignation as the chief financial officer of the Company, Company Secretary, an Authorised Representative and the Agent for Service of Process in Hong Kong with effect from 29 March 2021;

• (4) Ms. Li Ming Wai (李銘慧) has been appointed as the Company Secretary, an Authorised Representative and the Agent for Service of Process in Hong Kong with effect from 29 March 2021; and

• (5) Mr. Huang has been appointed as the chief financial officer of the Company with effect from 29 March 2021.

CHANGE OF DIRECTORS

Resignation of an Executive Director

The board (the ''Board'') of directors (the ''Director(s)'') of China Wan Tong Yuan (Holdings) Limited (the ''Company'', together with its subsidiaries, the ''Group'') announces that Mr. Huang Guangming (黃廣明) has tendered his resignation as an executive Director with effect from 29 March 2021 due to his decision to devote more time to his other personal commitments.

Mr. Huang Guangming confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'') and the shareholders of the Company (the ''Shareholders'').

Appointment of Executive Directors

The Board is also pleased to announce that Ms. Wang Wei (''Ms. Wang'') and Mr. Huang Peikun (''Mr Huang'') have been appointed as executive Directors with effect from 29 March 2021.

The biographical details of Ms. Wang and Mr. Huang are set out as follows:

Ms. Wang Wei (王薇)

Ms. Wang, aged 28, is an executive director of China VAST Industrial Urban Development Company Limited (6166.HK), the shares of which are listed on the Stock Exchange, since November 2017. Ms. Wang is the daughter of Ms. Zhao Ying, the chairman of the Group, a non-executive Director and a controlling Shareholder. Ms. Wang obtained a bachelor's degree in finance from Shanghai University of Finance and Economics in June 2013, and has extensive experience in corporate finance and mergers and acquisitions.

Ms. Wang has entered into a service agreement with the Company for a term of three (3) years from 29 March 2021, which shall continue for further successive periods until terminated by either party giving at least two (2) months' notice to the other. The appointment of Ms. Wang is subject to retirement by rotation and re-election at general meeting(s) of the Company in accordance with the articles of association of the Company (the ''Articles'') and the Rules Governing the Listing of Securities on the Stock Exchange (the ''Listing Rules''). Pursuant to her service agreement with the Company, Ms. Wang is not entitled to any remuneration, discretionary bonuses, or other benefits as executive Director. The Company will make relevant disclosures in the annual report of the Company for the financial year ending 31 December 2021.

Mr. Huang Peikun (黃培坤)

Mr. Huang, aged 58, is an executive director of China VAST Industrial Urban Development Company Limited (6166.HK), the shares of which are listed on the Stock Exchange, since March 2014. Mr. Huang has 16 years of experience in business management. He received his master's degree in Management Science and Engineering (管理科學與工程) from Zhejiang University (浙江大學), located in the PRC, in December 1999 and his Executive Master of Business Administration degree from The Hong Kong University of Science and Technology (香港科技大學), in June 2012. He was qualified as a senior accountant (高級會計師) of the Department of Personnel Affairs of Guangdong Province (廣東省人事廳) in February 2000. Mr. Huang was an executive director of China Merchants Land Limited (00978.HK, the shares of which are listed on the Stock Exchange) from 2 June 2012 to 8 August 2013.

Mr. Huang has entered into a service agreement with the Company for a term of three (3) years from 29 March 2021, which shall continue for further successive periods until terminated by either party giving at least two (2) months' notice to the other. The appointment of Mr. Huang is subject to retirement by rotation and re-election at general meeting(s) of the Company in accordance with the Articles and the Listing Rules. Pursuant to his service agreement with the Company, Mr. Huang is not entitled to any remuneration, discretionary bonuses or other benefits as executive Director and chief financial officer of the Company. The Company will make relevant disclosures in the annual report of the Company for the financial year ending 31 December 2021.

Save as disclosed in this announcement, each of the above newly appointed Directors does not (i) have any relationship with any other Directors, senior management or substantial or controlling shareholders of the Company; (ii) hold any other position with the Company and other members of the Group; (iii) hold any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iv) hold any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there are no other matters in relation to the appointment of each of Ms. Wang and Mr. Huang which need to be brought to the attention of the Shareholders and there is no other information that needs to be disclosed pursuant to any of the requirements of Rule 13.51(2)(h) to (v) of the Listing Rules.

CHANGE OF COMPANY SECRETARY, AUTHORISED REPRESENTATIVE AND AGENT FOR SERVICE OF PROCESS IN HONG KONG

The Board announces that with effect 29 March 2021, Mr. Tang Chun Man Adam (''Mr. Tang'') has resigned as the company secretary of the Company (the ''Company Secretary''), an authorised representative of the Company under Rule 3.05 of the Listing Rules (an ''Authorised Representative'') and the authorised representative of the Company for accepting on the Company's behalf of any service of process or notice to beserved on the Company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the '''the Agent for Service of Process in Hong Kong'') as he wishes to pursue his personal career development and concentrate on his own business engagement.

Mr. Tang has confirmed to the Board that he has no disagreement with the Board and there are no matters that need to be brought to the attention of the Shareholders and the Stock Exchange in relation to his resignation.

The Board is pleased to announce that Ms. Li Ming Wai (''Ms. Li'') has been appointed as the Company Secretary, an Authorised Representative and the Agent for Service of Process in Hong Kong with effect from 29 March 2021.

Ms. Li, aged 35, holds a Master of Science in Professional Accounting and Corporate Governance from the City University of Hong Kong and is an associate of both The Hong Kong Institute of Chartered Secretaries and The Chartered Governance Institute (formerly known as the Institute of Chartered Secretaries and Administrators). She has over 5 years of experience in listed company secretarial practice.

CHANGE OF CHIEF FINANCIAL OFFICER

Mr. Tang has also ceased to be the chief financial officer of the Company with effect from 29 March 2021, and in place of him, Mr. Huang has been appointed as the chief financial officer of the Company with effect from the same date. Biographies of Mr. Huang had been disclosed in the section headed ''Change of Directors - Appointment of Executive Directors'' in this announcement.

The Board would like to express its most sincere gratitude to Mr. Huang Guangming and Mr. Tang for their invaluable contributions to the Company during their tenure of offices and offer its best wishes to them; and extend its warmest welcome to Ms. Wang, Mr. Huang and Ms. Li on their new appointments.

By order of the Board

China Wan Tong Yuan (Holdings) Limited

Zhao Ying

Chairman

Hong Kong, 29 March 2021

As at the date of this announcement, the Board of the Company comprises the chairman and non-executive Director of the Company, namely Ms. Zhao Ying, three executive Directors of the Company, namely Ms. Li Xingying, Ms. Wang Wei and Mr. Huang Peikun, and three independent non-executive Directors of the Company, namely Mr. Cheung Ying Kwan, Dr. Wong Wing Kuen Albert and Mr. Choi Hon Keung Simon.