Yuzhou Properties : VOLUNTARY ANNOUNCEMENT POSSIBLE SPIN-OFF AND SEPARATE LISTING OF THE PROPERTY MANAGEMENT SERVICES AND COMMERCIAL OPERATIONAL SERVICES BUSINESSES OF THE GROUP

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.

This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Neither this announcement nor anything herein forms the basis for any contract or commitment whatsoever. Neither this announcement nor any copy hereof may be taken into or distributed in the United States or to any U.S. persons. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the Company and management, as well as financial statements. No public offer of securities is to be made by the Company in the United States.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01628)

VOLUNTARY ANNOUNCEMENT

POSSIBLE SPIN-OFF AND SEPARATE LISTING OF THE PROPERTY MANAGEMENT SERVICES AND COMMERCIAL OPERATIONAL SERVICES BUSINESSES OF THE GROUP

This announcement is made by Yuzhou Group Holdings Company Limited (the "Company") on a voluntary basis.

The Company is contemplating a possible spin-off (the "Possible Spin-off") and separate listing of the property management services business and commercial operational services business of the Group (the "Spin-offBusiness") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

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In the event that the Company proceeds with the Possible Spin-off, it will constitute a spin-off of the Spin-off Business by the Company subject to compliance with Practice Note 15 to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") and will also be a deemed disposal of an interest in the Spin-off Business by the Company under Rule 14.29 of the Listing Rules.

As at the date of this announcement, the details of the Possible Spin-off have yet to be finalised. The Company will make further announcement(s) in connection with the Possible Spin-Off as and when appropriate or required in accordance with the requirements of the Listing Rules.

Shareholders of the Company and potential investors should note that the Possible Spin-off is subject to, among others, further assessment by the management and the Board, approvals from the relevant regulatory authorities and market conditions. There is no assurance that the Possible Spin-off will proceed or as to when it may take place. Shareholders of the Company and potential investors are reminded to exercise caution when dealing in the securities of the Company.

By order of the Board

Yuzhou Group Holdings Company Limited

Lam Lung On

Chairman

Hong Kong, 25 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Lam Lung On (Chairman, J.P.), Ms. Kwok Ying Lan, Mr. Lin Conghui and Ms. Lam Yu Fong, the non-executive director of the Company is Ms. Xie Mei, and the independent non-executive directors of the Company are Mr. Lam Kwong Siu, Mr. Wee Henny Soon Chiang and Dr. Zhai Pu.

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