China Conch Venture : (1) ESTABLISHMENT OF STRATEGY, SUSTAINABILITY AND RISK MANAGEMENT COMMITTEE; AND (2) CHANGES IN THE COMPOSITION OF BOARD COMMITTEE

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China Conch Venture Holdings Limited ʕ਷ऎᑮ௴ุછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 586)

(1) ESTABLISHMENT OF STRATEGY,

SUSTAINABILITY AND RISK MANAGEMENT COMMITTEE; AND (2) CHANGES IN THE COMPOSITION OF BOARD COMMITTEE

The Board hereby announces with effect from 29 March 2021 that:

• (a) The Strategy, Sustainability and Risk Management Committee (the ''SSR Committee'') has been established, comprising Mr. GUO Jingbin as chairman of the SSR Committee, Mr. JI Qinying, Mr. CHAN Chi On and Mr. CHANG Zhangli as members of the SSR Committee;

• (b) Mr. JI Qinying has ceased to act as a member of the Remuneration and Nomination Committee of the Company; and

(c) Mr. CHANG Zhangli has been appointed as a member of the Remuneration and Nomination Committee of the Company.

(1) ESTABLISHMENT OF STRATEGY, SUSTAINABILITY AND RISK MANAGEMENT COMMITTEE

The board (the ''Board'') of directors (the ''Directors'') of China Conch Venture Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'' ) is pleased to announce that the Strategy, Sustainability and Risk Management Committee (the ''SSR Committee'') has been established with effect from 29 March 2021.

The SSR Committee is mainly responsible for, among others, formulating the mid and long-term planning of development strategies of the Group, considering and making recommendations on policies for the sustainable development, monitoring and reviewing the implementation of strategic development plans and policies related to sustainable development, overseeing and reviewing the risk management system, and assisting the Board in fulfilling its management and supervision responsibilities related to the sustainable development of the Group.

The Board also announces that, Mr. GUO Jingbin has been appointed as chairman of the SSR Committee, Mr. JI Qinying, Mr. CHAN Chi On and Mr. CHANG Zhangli have been appointed as members of the SSR Committee with effect from 29 March 2021.

(2) CHANGES IN THE COMPOSITION OF BOARD COMMITTEE

The Board further announces that with effect from 29 March 2021:

• (1) Mr. JI Qinying has ceased to act as a member of the Remuneration and Nomination Committee of the Company; and

• (2) Mr. CHANG Zhangli has been appointed as a member of the Remuneration and Nomination Committee of the Company.

By Order of the Board

China Conch Venture Holdings Limited

GUO Jingbin

Chairman

Anhui Province, China

29 March 2021

As at the date of this announcement, the Board of the Company comprises Mr. GUO Jingbin (Chairman), Mr. JI Qinying (Chief Executive Officer), Mr. LI Jian and Mr. LI Daming as executive Directors; Mr. CHANG Zhangli as non-executive Director; and Mr. CHAN Chi On (alias Derek CHAN), Mr. CHAN Kai Wing and Mr. LAU Chi Wah, Alex as independent non-executive Directors.