Joy City Property Limited announced Mr. YOU Wei has resigned as an executive Director and the chairman of the Board, and also ceased to be the chairman of the executive committee of the Board (the "Executive Committee"), the chairman of the nomination committee of the Board and an authorised representative of the Company ("Authorised Representative") as required under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), with effect from 30 September 2022, due to adjustment on his work division within COFCO Corporation ("COFCO Corporation"), the ultimate controlling shareholder of the Company. The Board announced that Mr. CHEN Lang ("Mr. CHEN") has been appointed as a non- executive Director, the chairman of the Board, the chairman of the Nomination Committee and an Authorised Representative with effect from 30 September 2022. The biographical information of Mr. CHEN is set out as follows: Mr. CHEN, aged 56, holds a master's degree in Business Administration.

He joined COFCO Corporation in April 2019 and is currently an Executive Vice President of COFCO Corporation, and a non-executive director and chairman of the board of China Mengniu Dairy Company Limited, a company listed in Hong Kong. Prior to joining COFCO Corporation, Mr. CHEN had served as an Executive Vice President of China Resources (Holdings) Company Limited until April 2019. At the same time, he served as the chairman and general manager of China Resources Development & Investment Co.

Ltd., the chairman of China Resources Vanguard Co. Ltd., the chairman of China Resources Snow Breweries (China) Investment Co. Ltd., the chairman of China Resources Ng Fung Co.

Ltd., and the chairman of China Resources C'estbon Beverage (China) Investment Co. Ltd., and vice-chairman and chief executive officer of China Resources Logic Limited (now renamed as China Resources Gas Group Limited).