Guangzhou R&F Properties : Unaudited Operating Statistics for February 2020

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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

FEBRUARY 2020

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 February 2020 amounted to approximately RMB2.50 billion with 208,100 sq.m. of GFA.

At the end of February 2020, our cumulative attributable contracted sales were RMB8.68 billion with 742,600 sq.m. sold.

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

3 March 2020, 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