Shinsun : APPOINTMENT OF EXECUTIVE DIRECTOR

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.

Shinsun Holdings (Group) Co., Ltd.

ୂ͛છٰ€ණྠϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 02599)

APPOINTMENT OF EXECUTIVE DIRECTOR

This announcement is made by Shinsun Holdings (Group) Co., Ltd. (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.51(2) of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board (the "Board") of directors (the "Directors") of the Company is pleased to announce that Mr. Han Bo (ᒵت) ("Mr. Han") has been appointed as an executive Director with effect from 12 March 2021. The biography of Mr. Han is set out below.

Biographical Details of Mr. Han

Mr. Han, aged 47, was appointed as an executive Director of the Company on 12 March 2021. Mr. Han joined the Group as the vice president in 2018, and is currently holding the positions of director, as well as legal representative and executive director at various subsidiaries within the Group. He was also our president in the Suwan region where he was responsible for overseeing the Group's daily operation in the Suwan region from July 2018 to February 2020. Since January 2020, he has been responsible for managing the construction and contract center of the Group. Since October 2020, he has also concurrently worked at the operation management center of the Group, where he is responsible for overseeing the daily operation of the center.

Mr. Han has over 22 years of experience in the real estate industry in the People's Republic of China ("PRC"). From November 1998 to December 2014, he served as an executive general manager of Greentown China Holdings Limited (ၠ۬ʕ਷છٰϞࠢʮ̡*), a real estate development company whose shares are listed on the Main Board of the Stock Exchange (stock code: 03900), where he was mainly responsible for coordinating the daily operation of the group's business including products and projects. From January 2015 to July 2018, he assumed the role as the Shanghai regional vice president of Sunac China Holdings Limited (ፄ௴ʕ਷છٰϞࠢʮ̡), a company whose shares are listed on the Main Board of the Stock Exchange (stock code: 01918). He was mainly in charge of overseeing the group's regional business operations.

Mr. Han is a qualified civil engineer as certified by the Economic and Trade Commission of Zhejiang Province (एϪ޲຾᏶൱׸։ࡰึ) since December 2002. He obtained a bachelor's degree in engineering from Zhejiang University (एϪɽኪ) in the PRC in July 1996.

Mr. Han has entered into a service contract with the Company for a term of three years commencing from 12 March 2021, and is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the memorandum and articles of association of the Company. Pursuant to the service contract, Mr. Han will be entitled to receive an annual remuneration (including salary, bonus and contributions to retirement benefits scheme) of approximately RMB2.5 million for his role as executive Director, which is determined by the Board upon recommendation from the remuneration committee with reference to his qualification, level of duties and responsibilities undertaken in the Company and the prevailing market conditions.

As at the date of this announcement, Mr. Han does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as otherwise disclosed and as at the date of this announcement, Mr. Han does not hold any directorship in any other listed public company in the last three years preceding the date of his appointment, has no other major appointments and professional qualifications, and does not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company.

As at the date of this announcement, save as disclosed above, to the best knowledge of the Board, there is no other information which is required to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules and there are no other matters in relation to the appointment of Mr. Han that need to be brought to the attention of the shareholders of the Company.

The Board would like to extend its warm welcome to Mr. Han for his appointment as a member of the Board.

By order of the Board Shinsun Holdings (Group) Co., Ltd.

Chen Guoxiang

Chairman

Hong Kong, 12 March 2021

As at the date of this announcement, the Board comprises Mr. Chen Guoxiang, Mr. Chen Hongni, Mr. Zhao Leiyi and Mr. Han Bo as executive Directors, and Mr. Wong Kon Man Jason, Mr. Ding Jiangang and Mr. Ma Hongman as independent non-executive Directors.

* For identification purpose only