The board of directors of Poly Property Services Co., Ltd. announced that from 11 January 2023, Mr. Huang Hai ("Mr. Huang") ceased to be the chairman of the Board ("Chairman") of the Company and the chairman and member of the nomination committee of the Board due to work adjustment, but will remain as non- executive Director of the Company and join the audit committee of the Board as a member. Mr. Huang has confirmed that he has no disagreement with the Board and there are no matters in relation to his resignation as Chairman that need to be brought to the attention of the shareholders of the Company (the "Shareholders"). The Board further announces, according to the relevant requirements of the Articles of Association of the Company, the Board has approved the election of Ms. Wu Lanyu ("Ms. Wu"), an executive Director of the Company, as the Chairman of the Company and chairman of the nomination committee of the Board, the term of office is the same as the term of office of the second session of the Board.

Ms. Wu Lanyu, aged 43, is an executive Director of the Company. Ms. Wu joined the Company as a Director on 20 June 2018 and was appointed as an executive Director on 7 May 2019. Ms. Wu is the director of certain subsidiaries of the Company currently.

Ms. Wu has over 14 years of experience in the real estate industry. Ms. Wu worked as business manager of Poly Developments and Holdings Group Co., Ltd. from June 2005 to August 2005, responsible for investment related work. From September 2005 to February 2008, Ms. Wu served as the officer-in- charge of the sales and marketing department of Guangzhou Science City Poly Property Co., Ltd., which was a subsidiary of Poly Developments and Holdings and deregistered in October 2016, responsible for sales and marketing.

From February 2008 to April 2018, Ms. Wu served as assistant general manager and deputy general manager of Poly (Wuhan) Property Co., Ltd., with her last position responsible for sales and marketing, customer services and property management related work. From June 2018 to January 2023, Ms. Wu served as the general manager of Company with responsibility of overall operation, management, strategy making and business decision making. Ms. Wu obtained two bachelor's degrees in Management and Law, respectively, from Wuhan University of Technology in June 2003, and a master's degree in Communication Studies from Huazhong University of Science and Technology in June 2005.

Ms. Wu was qualified as an intermediate economist (economy of real estate) in December 2008. The Board further announces that, Ms. Wu ceased to be the general manager of the Company due to the aforementioned work adjustment. According to the relevant requirements of the Articles of Association of the Company, the Board has approved the appointment of Mr. Yao Yucheng ("Mr. Yao"), as the general manager of the Company, the term of office is the same as the term of office of the second session of the Board.

Mr. Yao Yucheng, aged 48. From 1995 to 2004, Mr. Yao successively served as office secretary of Guangzhou Metro Corporation, a business partner of the human resources department of Guangdong Ericsson Technology Co., Ltd., and the human resources director of Guangdong Eastern Fibernet Investment Co., Ltd. From 2004 to 2019, he worked in Mattel Inc. and served as the general manager of the Shenzhen office and the regional human resources director prior to his departure. From 2019 to January 2023, he served as the general manager of the human resources center of Poly Developments and Holdings.

Mr. Yao obtained a bachelor's degree in engineering from Shanghai Railway University in July 1995, a master's degree in business administration from Jinan University in June 2001, and a doctor's degree in management from Sun Yat-Sen University in December 2008.