BBMG : PROPOSED ELECTION OF DIRECTOR AND CLOSURE OF BOOKS FOR THE 2020 FIRST EXTRAORDINARY GENERAL MEETING

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北 京 金 隅 集 團 股 份 有 限 公 司

BBMG Corporation*

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

(Stock Code: 2009)

PROPOSED ELECTION OF DIRECTOR

AND

CLOSURE OF BOOKS FOR

THE 2020 FIRST EXTRAORDINARY GENERAL MEETING

The board of directors (the "Board") of BBMG Corporation* (the "Company", together with its subsidiaries, the "Group") announces that the twentieth meeting of the fifth session of the Board

and the seventh meeting of the remuneration and nomination committee of the fifth session of the Board were convened on 4 August 2020 to consider the matter in relation to the election of a

new director of the Company (the "Director").

PROPOSED ELECTION OF DIRECTOR

According to the twentieth meeting of the fifth session of the Board held on 4 August 2020, the Director proposed to be nominated for election at the 2020 first extraordinary general meeting to

be held on Friday, 21 August 2020 (the "2020 First Extraordinary General Meeting") is Mr.

Zeng Jing.

The remuneration and nomination committee of the Board has nominated Mr. Zeng Jing as a Director candidate. The above nomination has been approved by the Board.

The election of the above Director is subject to the approval of the shareholders of the Company

(the "Shareholders") at the 2020 First Extraordinary General Meeting. The Board proposes an

ordinary resolution to be passed by the Shareholders to approve the election of the above Director at the 2020 First Extraordinary General Meeting. The term of such Director will be for a

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period commencing from the conclusion of the 2020 First Extraordinary General Meeting and expiring on the date of the annual general meeting of the Company for the year of 2020.

Biography of Mr. Zeng Jing

Mr. Zeng Jing, born in February 1970, had been the executive director of the Company from 15 August 2017 to 26 December 2018 and had been the general manager of the Company from 5 August 2016 to 26 December 2018. Mr. Zeng Jing has been serving as the party secretary of the Company since July 2020. He joined Beijing North Star Industrial Group Company Limited in September 1992 and served as the deputy party secretary of Beijing North Star Industrial Group Company Limited and Beijing North Star Company Limited (the shares of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited and Shanghai Stock Exchange) (stock codes: 00588.HK and 601588.SH, respectively). He had been the executive director of Beijing North Star Company Limited between March 2012 and August 2016 and had been the general manager of Beijing North Star Company Limited from December 2014 to June 2016. From December 2014 to June 2016, Mr. Zeng Jing served as the director of Beijing North Star Industrial Group Company Limited (the parent company of Beijing North Star Company Limited). He has been the deputy party secretary and director of BBMG Group Company Limited during the period from June 2016 to 26 December 2018. During the period from November 2018 to June 2019, Mr. Zeng Jing has been the Deputy Secretary General of the Beijing Municipal Government. During the period from June 2019 to July 2020, Mr. Zeng Jing served as the Deputy Secretary of District Committee of Haidian District of Beijing Municipality of the CPC and the Secretary of the Party Group of Haidian District People's Government of Beijing Municipality, and successively served as the Deputy Head, Acting Head and Head of Haidian District People's Government of Beijing Municipality during the relevant period, and was also the Deputy Secretary of the Zhongguancun Science City Working Committee of Beijing Municipal Committee of the CPC and the Director of the Zhongguancun Science City Management Committee from January 2020 to July 2020. Mr. Zeng Jing graduated from the Department of Civil Engineering of Southeast University in 1992 and received a master's degree in Business Administration from Tsinghua University in 1999 and later graduated from Renmin University of China with a doctoral degree in Management in 2010. Mr. Zeng Jing graduated from Renmin University of China with a doctoral degree in management. Mr. Zeng Jing has extensive experience in real estate development and management.

Mr. Zeng Jing will enter into a service contract with the Company for serving as a Director with a term commencing from the conclusion of the 2020 First Extraordinary General Meeting and expiring on the date of the annual general meeting of the Company for the year 2020. Pursuant to the service contract, Mr. Zeng Jing's remuneration will be determined and approved at the annual general meeting of the Company based on the corporate policy on directors' remuneration of the Company as well as his workload and responsibilities.

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Save as disclosed above, Mr. Zeng Jing (i) did not hold any other directorships in other listed companies in the past three years; (ii) is not related to any directors, supervisors, senior management, or substantial or controlling shareholders of the Company; (iii) does not have or is not deemed to have, any interests in the shares in the Company within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong); and (iv) does not hold any other position in the Company or other members within the Group.

Save as disclosed above, there are no other matters concerning Mr. Zeng Jing that need to be brought to the attention of the Shareholders nor any information to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The notice in relation to the proposed election of Director at the 2020 First Extraordinary General Meeting will be despatched to the Shareholders as soon as practicable.

CLOSURE OF BOOKS FOR THE 2020 FIRST EXTRAORDINARY GENERAL MEETING

The register of members for H shares of the Company will be closed from 18 August 2020 (Tuesday) to 21 August 2020 (Friday) (both days inclusive), during which no transfer of shares will be effected. Shareholders whose names appear on the register of members of the Company on 21 August 2020 (Friday) will be entitled to attend and vote at the 2020 First Extraordinary General Meeting. In order to attend and vote at the 2020 First Extraordinary General Meeting, all transfers accompanied by relevant share certificates must be lodged with the Company's H Share Registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor,

Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong not later than 4:30 p.m. on 17

August 2020 (Monday).

By order of the Board

BBMG Corporation*

Jiang Deyi

Chairman

Beijing, the PRC, 4 August 2020

As at the date of this announcement, the executive directors of the Company are Jiang Deyi, Wu Dong and Zheng Baojin; the non-executive directors of the Company are Guo Yanming and Xue Chunlei; and the independent non-executive directors of the Company are Wang Guangjin, Tian Lihui, Tang Jun and Ngai Wai Fung.

• English translation denotes for identification purposes only
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