Aoyuan Healthy Life : PROPOSED ADOPTION OF NEW ARTICLES OF ASSOCIATION OF THE COMPANY

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3662)

PROPOSED ADOPTION OF NEW ARTICLES OF ASSOCIATION OF THE COMPANY

This announcement is made by Aoyuan Healthy Life Group Company Limited (the "Company") pursuant to Rule 13.51(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

To keep up with technological developments and to provide flexibility to the Company in relation to the conduct of general meetings, the board (the "Board") of directors (the "Directors") of the Company proposes that the Company amends the existing amended and restated articles of association of the Company (the "Existing Articles") to allow general meetings to be held as a hybrid meeting or an electronic meeting where shareholders of the Company (collectively, the "Shareholders") may attend by electronic means in addition to as a physical meeting where Shareholders attend in person.

The proposed amendments to the Existing Articles (collectively, the "Amendments") explicitly set out other related powers of the Board and the chairman of the general meetings, including making arrangements for attendance as well as ensuring the security and orderly conduct of such general meetings. Other house-keeping amendments to the Existing Articles are also proposed for the purpose of clarifying existing practices and making consequential amendments in line with the proposed Amendments. The Board proposes that the Company adopts a set of second amended and restated articles of association (the "New Articles") in substitution for, and to the exclusion of, the Existing Articles.

The proposed Amendments are prepared in the English language. The Chinese translation of the Amendments is for reference only. In case there are any inconsistencies between the English version and the Chinese version of the Amendments, the English version shall prevail.

The proposed adoption of the New Articles is subject to the approval of the Shareholders by way of a special resolution at the forthcoming annual general meeting of the Company to be held in due course (the "AGM") and shall take effect on the date the relevant special resolution is approved at the AGM.

A circular containing, among other things, further details of the proposed Amendments and a notice of the AGM will be despatched to the Shareholders in due course.

By Order of the Board

Aoyuan Healthy Life Group Company Limited

Mr. Guo Zining

Chairman

Hong Kong, 29 March 2021

As at the date of this announcement, the Board comprises Mr. Tao Yu and Mr. Zheng Wei as executive Directors; Mr. Guo Zining and Mr. Ruan Yongxi as non-executive Directors; and Mr. Hung Ka Hai Clement, Dr. Li Zijun and Mr. Wang Shao as independent non-executive Directors.