Seazen : CHANGE OF JOINT COMPANY SECRETARY AND AUTHORIZED REPRESENTATIVES

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SEAZEN GROUP LIMITED

新城發展控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1030)

CHANGE OF JOINT COMPANY SECRETARY AND

AUTHORIZED REPRESENTATIVES

The board of directors (the "Board") of Seazen Group Limited (the "Company") hereby announces that Ms. Chu Wai Ha ("Ms. Chu") has resigned as a joint company secretary of the Company (the "Joint Company Secretary"), an authorized representative under Rule 3.05 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and an authorized representative to accept on the Company's behalf service of process and notices in Hong Kong under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) of the Company (collectively, the "Authorized Representatives") with effect from 21 August 2020 due to her resignation from TMF Hong Kong Limited ("TMF HK"), the professional secretarial service provider engaged by the Company. Ms. Chu confirms that there is no disagreement between herself and the Board and there is no other matter in relation to her resignations that needs to be brought to the attention to the shareholders of the Company.

The Board is also pleased to announce that Ms. Ng Sau Mei ("Ms. Ng") has been appointed as the Joint Company Secretary and the Authorized Representatives with effect from 21 August 2020. Ms. Ng is an associate director of the Listing Services Department of TMF HK and is responsible for provision of corporate secretarial and compliance services to listed company clients. She has over 19 years of experience in the company secretarial field and has extensive knowledge and experience in dealing with corporate governance, regulatory and compliance affairs of listed companies. She is a Chartered Secretary, a Corporate Governance Professional and a fellow member of both The Hong Kong Institute of Chartered Secretaries and The Chartered Governance Institute (formerly known as The Institute of Chartered Secretaries and Administrators) in the United Kingdom.

The Company was granted a revised waiver from strict compliance with the requirements under Rule 3.28 and Rule 8.17 of the Listing Rules and in relation to the eligibility of Mr. Zhang Feng ("Mr. Zhang") to act as the Joint Company Secretary for a period from 21 August 2020 to 20 March 2021 (the "Revised Waiver Period") on conditions that (i) Mr. Zhang will be assisted by Ms. Ng during the Revised Waiver Period; and (ii) the Company will notify the Stock Exchange at the end of the Revised Waiver Period for the Stock Exchange to re-visit the situation. The Stock Exchange expects that, after the end of the Revised Waiver Period, the Company will be able to demonstrate that Mr. Zhang satisfies Rule 3.28 and Rule 8.17 of the Listing Rules, having had the benefit of Ms. Ng's assistance so that a further waiver will not be necessary.

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The Board would like to take this opportunity to express its appreciation to Ms. Chu for her contributions to the Company during her tenure in office and to welcome Ms. Ng for joining the Company.

By Order of the Board

SEAZEN GROUP LIMITED

Wang Xiaosong

Chairman

Hong Kong, 21 August 2020

As at the date of this announcement, the directors of the Company are Mr. Lv Xiaoping and Mr. Lu Zhongming as executive directors, Mr. Wang Xiaosong, Mr. Qu Dejun and Mr. Zhang Shengman as non-executive directors and Mr. Chen Huakang, Mr. Zhu Zengjin and Mr. Zhong Wei as independent non-executive directors.

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