Glorious Property : APPOINTMENT OF ALTERNATE DIRECTOR AND CHANGE OF MEMBER OF BOARD COMMITTEES

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Glorious Property Holdings Limited 恒盛地產控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 00845)

APPOINTMENT OF ALTERNATE DIRECTOR

AND

CHANGE OF MEMBER OF BOARD COMMITTEES

APPOINTMENT OF ALTERNATE DIRECTOR

The board (''Board'') of directors (''Directors'', and each, a ''Director'') of Glorious Property Holdings Limited (the "Company") is pleased to announce that, with effect from 23 March 2021, Mr. Cheng Ka Hang, Francis ("Mr. Cheng") is appointed as an alternate Director to Mr. Ding Xiang Yang ("Mr. Ding"), the chairman of the Board and the chief executive officer of the Company.

Mr. Cheng, aged 46, joined the Company in June 2011 and has been the company secretary and an authorised representative (pursuant to rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) of the Company since September 2015. Mr. Cheng has over 22 years of experience in the field of legal compliance, corporate re-structuring, management and company secretarial works, over 17 years of which were gained from working as legal compliance and company secretarial works in various companies listed on The Stock Exchange of Hong Kong Limited. Mr. Cheng holds a bachelor's degree in accounting and finance and the postgraduate diploma in corporate administration. He is an associate member of The Chartered Governance Institute and The Hong Kong Institute of Chartered Secretaries.

As at the date of this announcement, Mr. Cheng is interested in options to subscribe for 2,015,000 shares of the Company (representing approximately 0.026% of the total issued share capital of the Company).

There is no service contract between the Company and Mr. Cheng with respect to his appointment as an alternate Director to Mr. Ding and there is no fixed term of service with the Company as an alternate Director. Pursuant to the articles of association of the Company, the appointment of an alternate Director shall determine on the happening of any event which, if he were a Director, would cause him to vacate such office or if his appointor ceases for any reason to be a Director. Mr. Cheng will not receive any remuneration from the Company in respect of his appointment as an alternate Director to Mr. Ding.

As at the date of this announcement, Mr. Cheng does not hold any directorship in any public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years.

Save as disclosed above, Mr. Cheng (i) does not hold any other position with the Company or any other members of the Company and its subsidiaries; (ii) does not have any relationships with any Directors, senior management or substantial or controlling shareholders of the Company (each as defined in the Listing Rules). There is no other information to be disclosed pursuant to Rule 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, nor are there any other matters concerning the appointment of Mr. Cheng as an alternate Director that need to be brought to the attention of the shareholders of the Company.

CHANGE OF MEMBER OF BOARD COMMITTEES

Following the appointment of Mr. Cheng as an alternate Director to Mr. Ding, he is also appointed an alternate to Mr. Ding as a member of the remuneration committee, nomination committee, corporate governance committee and finance committee of the Company with effect from 23 March 2021.

The Board would like to take this opportunity to extend a warm welcome to Mr. Cheng for joining the Board.

By order of the Board Glorious Property Holdings Limited

Ding Xiang Yang

Chairman

Hong Kong, 23 March 2021

As at the date of this announcement, the executive Directors of the Company are Messrs. Ding Xiang Yang (Mr. Cheng Ka Hang, Francis as his alternate), Xia Jing Hua and Yan Zhi Rong; the independent non-executive Directors of the Company are Prof. Liu Tao, Dr. Hu Jinxing and Mr. Han Ping.