Hong Kong Resources : APPOINTMENT OF EXECUTIVE DIRECTOR AND CO-CHAIRMAN

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.

HONG KONG RESOURCES HOLDINGS COMPANY LIMITED

香港資源控股有限公司

(Incorporated in Bermuda with limited liability

and carrying on business in Hong Kong as HKRH China Limited)

(Stock code: 2882)

APPOINTMENT OF EXECUTIVE DIRECTOR AND CO-CHAIRMAN

The board (the "Board") of directors ("Directors") of Hong Kong Resources Holdings Company Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr. Wang Chaoguang ("Mr. Wang") has been appointed as an executive Director and the co-chairman of the Company with effect from 1 April 2021. He will act jointly with the current chairman of the Company, Mr. Li Ning ("Mr. Li").

Mr. Li will continue to be the responsible person for providing leadership to and overseeing the management of the Board, and performing the responsibilities of the chairman under the bye-laws of the Company (the "Bye-laws") and the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited) (including but not limited to the relevant provisions under the Model Code and the Corporate Governance Code), while Mr. Wang will be primarily responsible for business development of and formation of business strategy for the Group.

Set out below are the biographical details of Mr. Wang:

Mr. Wang, aged 49, is currently an executive Director of Beijing Jin Hui Ding Ming Investment Management Company Limited* (北京金匯鼎銘投資管理有限公司), a company principally engaged

in the provision of asset management and corporate investment consultancy services and Shanxi Zhong Zheng Da Investment Management Company Limited* (山西中正達投資管理有限公司), a company

principally engaged in the provision of corporate investment consultancy services, and the funding of corporate projects. Mr. Wang has around 10 years of experience in the asset management and corporate investment consultancy, and over 15 years of experience in the real estate development and investment business. He has extensive experience in corporate management and corporate investment. Mr. Wang also has experience in the information technology (IT) development and consultancy business. Mr. Wang is primarily responsible for the business development of the Group, and the formation of business strategy for the Group going forward.

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Mr. Wang has entered into a service agreement with the Company for an initial term of two years commencing from 1 April 2021. Mr. Wang shall hold office only until the first general meeting of the Company after his appointment and shall be subject to re-election at such meeting in accordance with the Bye-laws. Mr. Wang will be entitled to a director's remuneration of HK$960,000 per annum, which had been approved by the Board on the recommendation of the remuneration committee of the Company and determined with reference to his general duties and responsibilities and the prevailing market conditions.

Save as disclosed herein, as at the date of this announcement, (i) Mr. Wang does not hold any position in the Company or any of its subsidiaries nor have any relationship with any Director, senior management or substantial or controlling shareholders (having the meaning ascribed to it in the Listing Rules of the Company); (ii) Mr. Wang has not held any directorship in other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the past three years or other major appointments and professional qualifications; and (iii) Mr. Wang does not have, and is not deemed to have, any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations which is required to be disclosed under Part XV of the Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there is no other information relating to the appointment of Mr. Wang that needs to be brought to the attention to the shareholders of the Company nor is there any information relating to Mr. Wang that is required to be disclosed pursuant to Rules 13.51(2) of the Listing Rules.

The Company would like to take this opportunity to welcome Mr. Wang for joining the Board.

By order of the Board of

Hong Kong Resources Holdings Company Limited

Mr. Li Ning

Chairman

Hong Kong, 1 April 2021

• The English transliteration of the Chinese names in this announcement, where indicated, is included for information only, and should not be regarded as the official English names of such Chinese names.

As at the date of this announcement, the Board comprises Mr. Li Ning (Chairman), Mr. Wang Chaoguang (Co-chairman) and Ms. Dai Wei as executive Directors; Mr. Hu Hongwei as non-executive Director; and Dr. Loke Yu alias Loke Hoi Lam, Mr. Fan, Anthony Ren Da and Mr. Chan Kim Sun as independent non-executive Directors.

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