Jianzhong Construction Development : (1) RESIGNATION OF NON-EXECUTIVE DIRECTOR; AND (2) APPOINTMENT OF NON-EXECUTIVE DIRECTOR

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.

Jianzhong Construction Development Limited ܔʕܔண೯࢝Ϟࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 589)

(1) RESIGNATION OF NON-EXECUTIVE DIRECTOR; AND

(2) APPOINTMENT OF NON-EXECUTIVE DIRECTOR

This announcement is made pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities (the ''Listing Rules'') on The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'').

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the ''Board'') of directors (the ''Directors'') of Jianzhong Construction Development Limited (the ''Company'', together with its subsidiaries, the ''Group'') hereby announces that Mr. Zeng Guohua (曾國華) (''Mr. Zeng'') has tendered his resignation as a non-executive Director with effect from 30 March 2021 due to his other business commitments.

Mr. Zeng has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company (the ''Shareholders'') or the Stock Exchange.

The Board would like to take this opportunity to extend its gratitude and appreciation to Mr. Zeng for his valuable contribution to the Company during his tenure of service.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that, with effect from 30 March 2021, Mr. Wang Wei (王偉) was appointed as a non-executive Director.

Mr. Wang, aged 55, was appointed as a non-executive Director of the Company with effect from 30 March 2021 and is responsible for providing strategic advice to the business and operation of the Group.

Mr. Wang completed his studies from Anhui Province Tongling College of Finance and Economics* (安徽省銅陵財經專科學校) (currently known as Tongling University (銅陵學 院)), in the PRC in August 1986 and has over 20 years of experience in the PRC construction industry. Mr. Wang joined Anhui Conch Cement Company Limited (安徽海 螺水泥股份有限公司), a company which shares are listed on the Main Board of the Stock Exchange (stock code: 914) in July 1992 and held several positions such as the deputy general manager (副總經理) and general manger (總經理) of its subsidiaries. Since February 2018 and July 2019, Mr. Wang has served as an assistant to general manager (總經理助理) and a deputy general manager (副總經理), respectively, of Anhui Conch Venture Investment Co. Ltd.* (安徽海螺創業投資有限責任公司 ), a substantial shareholder of the Company (as defined in the Listing Rules) as at the date of this announcement.

The Company has entered into a service agreement with Mr. Wang for an initial period of three years commencing from 30 March 2021 and shall thereafter continue on a month to month basis, provided that either party may terminate this Agreement at any time by giving not less than three months' prior notice in writing. Mr. Wang will hold office until the forthcoming general meeting of the Company and be eligible for re-election. Thereafter, Mr. Wang shall retire and shall be eligible for re-election at least once every three years in accordance with the Listing Rules and the amended and restated memorandum and articles of association of the Company. Mr. Wang will not receive any director's fee for his service as a non-executive Director.

Save as disclosed above, Mr. Wang has confirmed that he does not hold any other position with the Company or any directorship in any other listed companies in the last three years. Mr. Wang also does not have any relationship with any directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company (both as defined in the Listing Rules).

To the best knowledge and belief of the Board and having made all reasonable enquiries, as at the date of this announcement, Mr. Wang does not or is not deemed to have any interest in any shares, underlying shares or debenture of the Company or any of its associated corporation 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 Mr. Wang as a non-executive Director that need to be brought to the attention of the Shareholders, nor is there any information required to be disclosed by the Company in respect of the appointment of Mr. Wang pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules.

The Board would like to extend its warm welcome to Mr. Wang on joining the Board.

By order of the Board

Jianzhong Construction Development Limited

Mr. Xun Minghong

Chairman and Executive Director

Hong Kong, 29 March 2021

As at the date of this announcement, the board of Directors of the Company comprises Mr. Xun Minghong, Mr. He Wenlin and Ms. Zheng Ping as Executive Directors; Mr. Yang Kaifa, Mr. Zeng Guohua and Mr. Xun Liangbao as Non-executive Directors; and Mr. Sze Irons, Mr. Wong Kun Kau and Mr. Zhu Diwu as Independent Non-executive Directors.

*

For identification purpose only