Modern Land China : CHANGE OF NON-EXECUTIVE DIRECTOR

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MODERN LAND (CHINA) CO., LIMITED

當 代 置 業（ 中 國 ）有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 1107)

CHANGE OF NON-EXECUTIVE DIRECTOR

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the ''Board'') of directors (the ''Director(s)'') of Modern Land (China) Co., Limited (the ''Company'', and its subsidiaries, the ''Group'') hereby announces that Mr. Tian Jiong (''Mr. Tian'') tendered his resignation as a non-executive Director with effect from 16 September 2020.

Mr. Tian resigned to better focus on his other business engagements. Mr. Tian has confirmed that he has no disagreement with the Board and there are no circumstances related to his resignation which need to be brought to the attention of The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'') and the shareholders of the Company.

The Company would like to express its sincere gratitude to Mr. Tian for his valuable contributions to the Group during his term of office as a non-executive Director.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Reference is made to the announcements of the Company dated 8 September 2016 and 20 September 2016 in relation to the subscription of new shares of the Company by Great Wall Pan Asia International Investment Company Limited (長城環亞國際投資有限公司), now known as China Great Wall AMC (International) Holdings Company Limited (中國長城資產

（國際）控股有限公司) (''Great Wall International'').

The Board announces that Mr. Zeng Qiang (''Mr. Zeng''), who is nominated by Great Wall International, has been appointed as a non-executive Director with effect from 16 September 2020.

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The biographical details of Mr. Zeng are as follows:

Mr. Zeng Qiang

Mr. Zeng Qiang, aged 35, joined Great Wall International in 2017 and currently holds the position of vice president. Mr. Zeng is mainly responsible for investment, financing and project management. Prior to joining Great Wall International, Mr. Zeng served as the investment supervisor of the investment development department of a real estate company listed in Hong Kong, responsible for acquiring new projects directly from government land auctions, market acquisitions and other channels, and taking part in investor relations and government relations. He also served as a senior manager of the international business department of the same company, responsible for the acquisition of real estate projects in overseas countries including South Africa and New Zealand, as well as offshore financing. He has over 13 years of experience in oversea real estate investments, mergers and acquisitions and restructuring and disposal of non-performing assets and other fields.

Mr. Zeng entered into a service contract (the ''Service Contract'') with the Company for a term of three years with effect from 16 September 2020. Pursuant to the articles of association of the Company, Mr. Zeng is subject to retirement by rotation and is eligible for re-election. Mr. Zeng will not receive any remuneration as a non-executive Director from the Company. The Company has the right to terminate the Service Contract in the event that Great Wall International directly or indirectly holds less than 5% of the issued share capital of the Company.

As at the date of this announcement, Mr. Zeng does not have, and is not deemed to have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations which are required to be disclosed pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed in this announcement, Mr. Zeng does not (i) have any relationship with any other Directors, senior management, or substantial or controlling shareholders (each as defined in the Rules Governing the Listing of Securities on the Stock Exchange (the ''Listing Rules'')) of the Company; (ii) hold any other position with the Company or any of its subsidiaries; and (iii) hold any other directorships in public companies whose securities are listed on any securities market in Hong Kong or overseas in the preceding three years.

To the best knowledge, information and belief of the Directors and having made all reasonable enquiries, save as disclosed above, there is no information relating to Mr. Zeng that is required to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules, and there are no other matters in relation to the appointment of Mr. Zeng that is required to be brought to the attention of the shareholders of the Company and the Stock Exchange.

The Board would like to express its warmest welcome to Mr. Zeng in joining the Board.

By order of the Board

Modern Land (China) Co., Limited

Zhang Peng

President and Executive Director

Hong Kong, 16 September 2020

As at the date of this announcement, the Board comprises ten Directors, namely executive Directors: Mr. Zhang Lei, Mr. Zhang Peng and Mr. Chen Yin; non-executive Directors: Mr. Fan Qingguo, Mr. Chen Zhiwei and Mr. Zeng Qiang; and independent non-executive Directors: Mr. Qin Youguo, Mr. Cui Jian, Mr. Hui Chun Ho, Eric and Mr. Zhong Bin.

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