Hao Tian Development : PROPOSED CHANGE OF COMPANY NAME AND APPOINTMENT OF NON-EXECUTIVE DIRECTORS

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.

昊天發展集團有限公司

Hao Tian Development Group Limited

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 00474)

PROPOSED CHANGE OF COMPANY NAME

AND

APPOINTMENT OF NON-EXECUTIVE DIRECTORS

PROPOSED CHANGE OF COMPANY NAME

The Board proposes to change the English name of the Company from ''Hao Tian Development Group Limited'' to ''Aceso Life Science Group Limited'' and its dual foreign name in Chinese from ''昊天發展集團有限公司'' to ''信銘生命科技集團有限公 司'' to better reflect the Company's future development.

The Proposed Change of Company Name is subject to (i) the passing of a special resolution by the Shareholders at the EGM; and (ii) the Registrar of Companies in the Cayman Islands approving the Proposed Change of Company Name by issuing a certificate of incorporation on change of name.

A circular containing, among other matters, information in relation to the Proposed Change of Company Name and a notice convening the EGM will be despatched to the Shareholders as soon as practicable.

APPOINTMENT OF NON-EXECUTIVE DIRECTORS

The Board is pleased to announce that Dr. Wang Yu (王宇) and Dr. Li Yao (李耀) have been appointed as non-executive Directors with effect from 18 August 2020.

- 1 -

PROPOSED CHANGE OF COMPANY NAME

The board of directors (the ''Board'') of Hao Tian Development Group Limited (the ''Company'', together with its subsidiaries, the ''Group'') proposes to change the English name of the Company from ''Hao Tian Development Group Limited'' to ''Aceso Life Science Group Limited'' and its dual foreign name in Chinese from ''昊天發展集團有限公 司'' to ''信銘生命科技集團有限公司'' (the ''Proposed Change of Company Name'').

Conditions of the Proposed Change of Company Name

The Proposed Change of Company Name is subject to the following conditions:

1. the passing of a special resolution by the shareholders of the Company (the ''Shareholders'') at an extraordinary general meeting of the Company (the ''EGM'') approving the Proposed Change of Company Name; and
2. the Registrar of Companies in the Cayman Islands approving the Proposed Change of Company Name by issuing a certificate of incorporation on change of name.

Subject to the satisfaction of the conditions set out above, the Proposed Change of Company Name will take effect upon the date of the issue of a certificate of incorporation on change of name by the Registrar of Companies in the Cayman Islands confirming that the new name has been registered. The Company will then carry out the necessary filing procedures with the Companies Registry in Hong Kong.

Reasons for the Proposed Change of Company Name

The Company is an investment holding company. The Group principally engages in (i) money lending; (ii) securities investment; (iii) provision of commodities and securities brokerage service; (iv) asset management; (v) property leasing; and (vi) rental and trading of construction machinery. The Company intends to expand its business into bioscience industry and has been endeavouring in identifying and locating acquisition targets.

The Board considers that the Proposed Change of Company Name will better reflect the Company's future development direction and demonstrate its commitment on engaging in and focusing on the bioscience business. In addition, the Board believes that the new English and Chinese names of the Company will provide the Company with a new corporate image which will benefit the Company's future business development. Therefore, the Board considers that the Proposed Change of Company Name is in the best interests of the Company and the Shareholders as a whole.

Effects of the Proposed Change of Company Name

The Proposed Change of Company Name will not affect any rights of the holders of securities of the Company nor the Company's financial position.

All existing certificates of securities in issue bearing the present name of the Company will, upon the Proposed Change of Company Name becoming effective, continue to be evidence of title to such securities and the existing share certificates will continue to be valid for trading, settlement, registration and delivery purposes. There will not be any arrangement

- 2 -

for exchange of the existing share certificates of securities for new share certificates under the new name of the Company. Subject to the confirmation of The Stock Exchange of Hong Kong Limited (the ''Stock Exchange''), the English and Chinese stock short names of the Company for trading in the securities of the Company on the Stock Exchange will also be changed after the new company name becomes effective.

GENERAL

A special resolution will be proposed at the EGM for the Shareholders to consider and, if thought fit, approve the Proposed Change of Company Name. A circular containing, among other matters, information in relation to the Proposed Change of Company Name and a notice convening the EGM will be despatched to the Shareholders as soon as practicable.

Further announcement(s) will be made as and when appropriate in relation to, among other things, the results of the EGM, the effective date of the Proposed Change of Company Name and the new English stock short name and Chinese stock short name for trading in the securities of the Company on the Stock Exchange.

APPOINTMENT OF NON-EXECUTIVE DIRECTORS

The Board is pleased to announce that Dr. Wang Yu (王宇) (''Dr. Wang'') and Dr. Li Yao (李耀) (''Dr. Li'') have been appointed as non-executive Directors with effect from 18 August 2020.

Biographical details of Dr. Wang Yu

Dr. Wang, aged 62, has extensive connection and possesses decades of experience in the healthcare space in the People's Republic of China (the ''PRC''). He is a highly recognized scholar who previously served as the director of Institute of Hepatology, Peking University Health Science Center (formerly known as Beijing Medical University) (''PUHSC'') (北京 大學醫學部肝病研究所所長), Vice President of PUHSC, deputy director of China National Center for Biotechnology Development (CNCBD) (中國生物技術發展中心副主任) and deputy director of the Department of Social Development, Ministry of Science and Technology (formerly known as the Department of Rural & Social Development, Ministry of Science and Technology of the PRC) (中國科學技術部社會發展司副司長). Dr. Wang served as director general of the Chinese Centre for Disease Control and Prevention (中國疾 病預防控制中心主任) from June 2004 to August 2017. Dr. Wang is currently managing director of Chinese Medical Association (中華醫學會常務理事), and committee member of the Global Commission for the Certification of Poliomyelitis Eradication, Western Pacific Region, WHO (世界衛生組織全球消滅脊髓灰質炎西太區專家委員會委員). Dr. Wang will also act as the chairman of the Scientific Advisory Committee of Aceso Life Science Holding Limited (''Aceso Life Science''), a joint venture of the Company focusing on bioscience business. Dr. Wang earned his doctorate degree in medicine from PUHSC and Ph.D. from Jichi Medical School of Japan.

Dr. Wang will receive a director's fee of HK$240,000 per annum, which was determined with reference to his duties and responsibilities, the Company's remuneration policy, the prevailing market conditions and recommendations of the remuneration committee of the Board and is eligible to receive a discretionary bonus. Dr. Wang is also entitled to a remuneration of HK$30,000 per month for the position held with Aceso Life Science. Dr.

- 3 -

Wang's remuneration will be subject to annual review by the remuneration committee of the Board and the Board from time to time with reference to his responsibility and performance. He has entered into a service contract with the Company for a term of service for three years commencing from 18 August 2020. He shall hold office until the next annual general meeting of the Company and will be eligible for and subject to re-election at such meeting in accordance with the Rules Governing the Listing of Securities on the Stock Exchange (the ''Listing Rules'') and the articles of association of the Company (the ''Articles'').

Biographical details of Dr. Li Yao

Dr. Li, aged 51, has over 25 years of experience in financial industry. He has been working for International Finance Corporate (''IFC'') of World Bank Group since 1999 and he currently is the Regional Chief Investment Officer for East Asia and Pacific of IFC. Dr. Li also serves as an independent director of 21Vianet Group, Inc, a company listed on NASDAQ, since May 2018. During 2011 to 2015, he was the Chief Executive Officer of China-ASEAN Investment Cooperation Fund and the Chairman of the Investment Committee of its investment manager. From 2015 to 2016, he also acted as the Vice General Manager of Ping An Trust Co Ltd. (平安信託有限責任公司) overseeing the private equity business. Dr. Li holds a PhD in Economics from Renmin University of China.

Dr. Li will receive a director's fee of HK$240,000 per annum, which was determined with reference to his duties and responsibilities, the Company's remuneration policy, the prevailing market conditions and recommendations of the remuneration committee of the Board and is eligible to receive a discretionary bonus. Dr. Li's remuneration will be subject to annual review by the remuneration committee of the Board and the Board from time to time with reference to his responsibility and performance. He has entered into a service contract with the Company for a term of service for three years commencing from 18 August 2020. He shall hold office until the next annual general meeting of the Company and will be eligible for and subject to re-election at such meeting in accordance with the Listing Rules and the Articles.

Save as disclosed above, as at the date of this announcement, each of Dr. Wang and Dr. Li

1. does not hold any other directorship in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years;
2. does not hold any position in the Company or other members of the Group; (3) does not have any relationship with any Directors, senior management, substantial shareholders or controlling shareholders (as defined in Listing Rules) of the Company; and (4) does not have, and/or is not deemed to have, any interests or short positions in any shares, underlying shares or debentures of the Company or its associated corporations (as defined within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)).

Save as disclosed above, there is no other information required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules nor any other matters which need to be brought to the attention of the shareholders of the Company regarding the appointments of Dr. Wang and Dr. Li.

- 4 -

The Board would like to take this opportunity to welcome Dr. Wang and Dr. Li to the Board.

By order of the Board

Hao Tian Development Group Limited

Fok Chi Tak

Executive Director

Hong Kong, 18 August 2020

As at the date of this announcement, the Board comprises three executive directors, namely Mr. Xu Haiying, Dr. Zhiliang Ou, JP (Australia) and Mr. Fok Chi Tak; two non-executive directors, namely Dr. Wang Yu and Dr. Li Yao; and three independent non-executive directors, namely Mr. Chan Ming Sun Jonathan, Mr. Lam Kwan Sing, and Mr. Lee Chi Hwa, Joshua.

- 5 -