China New Town Development Company Limited (the "Company") has engaged Boardroom Corporate Services (HK) Limited ("Boardroom") to provide certain corporate secretarial services and Sir Kwok Siu Man KR ("Sir Seaman Kwok"), an executive director and the head of corporate secretarial department, has been nominated by Boardroom to assume the office of the company secretary of the Company (the "Company Secretary"). The board of directors of the Company (the "Directors" and the "Board", respectively) hereby announced that Sir Seaman Kwok resigned as the Company Secretary with effect from 30 March 2020. Sir Seaman Kwok has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation above mentioned that need to be brought to the attention of the shareholders of the Company and the Stock Exchange. The Board announced that Ms. Cheng Lucy ("Ms. Cheng"), a senior corporate secretarial manager of Boardroom, has been appointed as the Company Secretary with effect from 30 March 2020. She is an associate member of both The Hong Kong Institute of Chartered Secretaries and The Chartered Governance Institute (formerly known as The Institute of Chartered Secretaries and Administrators) in the United Kingdom. Ms. Cheng has over 15 years of experience in the corporate secretarial field.