Zhong Fa Zhan : CHANGE OF COMPANY NAME, STOCK SHORT NAME AND COMPANY LOGO

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.

CENTRAL DEVELOPMENT HOLDINGS LIMITED

中發展控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 475)

CHANGE OF COMPANY NAME, STOCK SHORT NAME

AND COMPANY LOGO

CHANGE OF COMPANY NAME

The Board is pleased to announce that the English name of the Company has been changed from "Zhong Fa Zhan Holdings Limited" to "Central Development Holdings

Limited" and the existing Chinese name of the Company remains unchanged as "中發 展控股有限公司".

CHANGE OF ENGLISH STOCK SHORT NAME

The English stock short name for trading in the Shares on the Stock Exchange will be changed from "ZHONG FA ZHAN" to "CENTRAL DEV H" with effect from 9:00 am

on 16 October 2019 and the existing Chinese stock short name of the Company remains unchanged as "中發展控股". The stock code of the Company will remain as

"475".

CHANGE OF COMPANY LOGO

The logo of the Company has been changed to to reflect the Change of Company Name with effect from the date of this announcement.

Reference is made to the announcement of Zhong Fa Zhan Holdings Limited (now known as Central Development Holdings Limited) (the "Company") dated 19 July 2019, the circular of the Company dated 29 July 2019 (the "Circular") and the announcement of the Company dated 5 September 2019 in relation to the poll results of the AGM. Capitalized terms used herein shall have the same meanings as those defined in the Circular unless defined otherwise herein.

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CHANGE OF COMPANY NAME

The Board is pleased to announce that following the passing of a special resolution by the Shareholders at the AGM on 5 September 2019, the Certificate of Incorporation on Change of Name of the Company was issued by the Registry of Companies in the Cayman Islands on 5 September 2019 certifying that the English name of the Company has been changed from "Zhong Fa Zhan Holdings Limited" to "Central Development

Holdings Limited" and the existing Chinese name of the Company remains unchanged as "中發展控股有限公司".

The Certificate of Registration of Alteration of Name of Registered Non-Hong Kong Company was issued by the Companies Registry in Hong Kong on 30 September 2019 certifying that the new English name and the existing Chinese name of the Company have been registered in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong).

CHANGE OF ENGLISH STOCK SHORT NAME

The English stock short name for trading in the Shares on the Stock Exchange will be changed from "ZHONG FA ZHAN" to "CENTRAL DEV H" with effect from 9:00 a.m. on 16 October 2019 and the existing Chinese stock short name of the Company "中發展 控股" will remain unchanged. The stock code of the Company will remain as "475".

EFFECTS ON THE CHANGE OF COMPANY NAME

The Change of Company Name will not affect any rights of the Shareholders or the Company's daily operations or its financial position. All the existing share certificates in issue bearing the former name of the Company shall continue to be effective and as documents of title to the shares of the Company and shall continue to be valid for trading, settlement, registration and delivery purposes. There will not be any arrangement for free exchange of the existing share certificates of the Company for new share certificates bearing the new name of the Company. New share certificates of the Company will be issued bearing the new name of the Company.

CHANGE OF COMPANY LOGO

The logo of the Company has been changed to to reflect the Change of Company Name with effect from the date of this announcement.

By order of the Board

Central Development Holdings Limited

Chan Wing Yuen, Hubert

Chief Executive and Executive Director

Hong Kong, 11 October 2019

As at the date of this announcement, the Board consists of three executive Directors, namely Mr. Wu Hao, Mr. Hu Yangjun and Mr. Chan Wing Yuen, Hubert; a non-executive Director, namely Mr. Li Wei Qi, Jacky; and three independent non-executive Directors, namely Mr. Wu Chi Keung, Mr. Jin Qingjun and Ms. Sun, Ivy Connie.

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