Guangzhou R&F Properties : Unaudited Operating Statistics for October 2019

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(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 2777)

UNAUDITED OPERATING STATISTICS FOR

OCTOBER 2019

The board of directors (the "Board") of Guangzhou R&F Properties Co., Ltd. (the "Company", together with its subsidiaries, the "Group") is pleased to announce that the Group's attributable contracted sales for the month of October 2019 amounted to approximately RMB14.08 billion with 1,396,700 sq.m. of GFA. It represents a year-on-year increase of 62% and 93%. It also represents a month-on-month increase of 24% and 35% respectively.

At the end of October 2019, our cumulative attributable contracted sales were RMB106.64 billion with 9,931,100 sq.m. sold. It represents a year-on-year increase of 11% and 35% respectively.

The sales data as disclosed above is unaudited and is based on preliminary internal information of the Group, which may differ from figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company on an annual or half-yearly basis due to various uncertainties during the process of collating such sales information. As such, the above data is provided for investors' reference only. Investors are advised to exercise caution and not to place undue reliance on such information when dealing in the securities of the Company. When in doubt, investors are advised to seek professional advice from professional or financial advisers.

By order of the Board

Guangzhou R&F Properties Co., Ltd.

Michael Lee

Joint Company Secretary

1 November 2019, Hong Kong

As at the date of this announcement, the executive directors of the Company are Dr. Li Sze Lim, Mr. Zhang Li, Mr. Zhou Yaonan and Mr. Lu Jing; the non-executive directors are Ms. Zhang Lin and Ms. Li Helen; and the independent non-executive directors are Mr. Zheng Ercheng, Mr. Ng Yau Wah, Daniel and Mr. Wong Chun Bong.

* For identification purposes only