Prosper Construction : RE-DESIGNATION OF NON-EXECUTIVE DIRECTOR TO EXECUTIVE DIRECTOR

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瑞港建設控股有限公司

PROSPER CONSTRUCTION HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 6816)

RE-DESIGNATION OF NON-EXECUTIVE DIRECTOR

TO EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Director(s)") of Prosper Construction Holdings Limited (the "Company") hereby announces that Mr. WANG Xuejun ("Mr. Wang") has been re-designated from a non-executive Director to an executive Director to strengthen involvement in management of the Company with effect from 1 March 2021.

Mr. Wang, aged 58, first joined the Company in October 2018 as a non-executive Director and was appointed as chairman of the Board and chairman of the Board's nomination committee since December 2020. Mr. Wang is also a director of two of the Group's subsidiaries. As chairman of the Board, Mr. Wang leads and coordinates the operation of the Board in formulating Company's goals and governance practices.

Mr. Wang has more than 20 years of experience in government administration, transportation supervision, and enterprise management and holds a bachelor degree in Chinese from Shandong College of Education* 山東省教育學院. He has been serving as the deputy general manager of Qingdao West Coast Development (Group) Limited* 青島西海岸發展(集團)有限公司 (the ultimate controlling shareholder of the Company) since September 2012.

Mr. Wang has entered into a service contract with the Company with an initial term of three years with effect from 1 March 2021 and renewable for successive term of one year each, unless terminated by either party giving not less than three months' notice in writing. Mr. Wang is not entitled to any remuneration under the abovesaid service contract, unless otherwise determined by the Board based on the recommendation of the remuneration committee of the Board. His appointment will be subject to retirement by rotation at annual general meetings of the Company and be eligible for re-election in accordance with the articles of association of the Company.

Save as disclosed above, Mr. Wang (i) has not held any other directorships 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; (ii) has not held any position with the Company and its subsidiaries; (iii) does not have any relationships with any directors, senior management, substantial or controlling shareholders of the Company; (iv) does not have any interest in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance; and (v) there is neither any other information that is required to be disclosed pursuant to Rule 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited nor any other matter that needs to be brought to the attention of the shareholders of the Company in relation to his appointment.

By order of the Board

Prosper Construction Holdings Limited

Jiang Shuang

Executive Director

Hong Kong, 1 March 2021

As at the date of this announcement, the Board comprised executive Directors Mr. WANG Xuejun (chairman of the Board), Mr. CUI Qi, Mr. DING Hongbin, Mr. YANG Zhenshan, Mr. JIANG Shuang, Mr. Yang Honghai; and independent non-executive Directors Mr. CHEUNG Chi Man Dennis, Mr. WANG Yaping and Mr. CHENG Xuezhan.

* For identification purpose only