Hengli Commercial Properties : Announcements and Notices - (1) Change of Directors; (2) Change of Composition of Board Committees; and (3) Change of the Authorised Representative

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.

萬 達 酒 店 發 展 有 限 公 司 WANDA HOTEL DEVELOPMENT COMPANY LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code : 169)

1. CHANGE OF DIRECTORS;
2. CHANGE OF COMPOSITION OF BOARD COMMITTEES; AND
3. CHANGE OF THE AUTHORISED REPRESENTATIVE

CHANGE OF DIRECTORS

The Board announces that with effect from 17 November 2017:

1. (i) Mr. Qi Jie, a non-executive Director of the Company; (ii) Mr. Qu Dejun, a non- executive Director of the Company; and (iii) Mr. Liu Chaohui, an executive Director of the Company have resigned as Directors; and

2. Mr. Ning Qifeng has been appointed as an executive Director and each of Mr. Zhang Lin and Mr. Hui Yung, Chris has been appointed as a non-executive Director.

CHANGE OF COMPOSITION OF BOARD COMMITTEES

The Board further announces that following the change of Directors as set out above and with effect from 17 November 2017:

1. Mr. Qi Jie has ceased to be a member of each of the Audit Committee and Remuneration Committee; and

2. Mr. Hui Yung, Chris has been appointed as a member of each of the Audit Committee and Remuneration Committee.

CHANGE OF AUTHORISED REPRESENTATIVE

Mr. Liu Chaohui has resigned as an authorised representative of the Company and Mr. Hui Yung, Chris has been appointed as a new authorised representative of the Company for the purpose of Rule 3.05 of the Listing Rules with effect from 17 November 2017.

INTRODUCTION

The Company understands from Dalian Wanda Commercial and Dalian Wanda Group, both controlling shareholders of the Company, that as a part of Wanda Group's recent strategic review, there will be a redeployment of management. As a result, the following resignations and appointments will take place.

RESIGNATION OF DIRECTORS

The Board announces that (i) Mr. Qi Jie, a non-executive Director of the Company; (ii) Mr. Qu Dejun, a non-executive Director of the Company; and (iii) Mr. Liu Chaohui, an executive Director of the Company have tendered their resignation as Directors of the Company due to the redeployment of management of Wanda Group, with effect from 17 November 2017.

Each of Mr. Qi Jie, Mr. Qu Dejun and Mr. Liu Chaohui has confirmed that there is no disagreement with the Board and there are no other matters relating to their resignation that need to be brought to the attention of the Shareholders pursuant to Rule 13.51(2) of the Listing Rules. The Company understands from Mr. Qi Jie, Mr. Qu Dejun and Mr. Liu Chaohui that they will be redeployed to other management positions in other businesses of the Wanda Group following their resignation as Directors of the Company.

APPOINTMENT OF DIRECTORS

The Board is pleased to announce that with effect from 17 November 2017, Mr. Ning Qifeng has been appointed as an executive Director of the Company and each of Mr. Hui Yung, Chris and Mr. Zhang Lin has been appointed as a non-executive Director of the Company.

Set out below are the biographies of each of Mr. Ning Qifeng, Mr. Zhang Lin and Mr. Hui Yung, Chris (the "New Directors").

Executive Director Mr. Ning Qifeng (寧奇峰 ), aged 52, has been the president of Wanda Hotel Management (Shanghai) Co. Limited*（萬達酒店管理（上海）有限公司）since July 2017. Mr. Ning had been a vice president of Dalian Wanda Commercial from December 2009 to June 2015 and had been

a senior vice president of Dalian Wanda Commercial from June 2015 to July 2017. Mr. Ning formerly also served as a chief vice president, senior vice president and vice president of Dalian Wanda Commercial; a vice president and an assistant to the president of Dalian Wanda Group; the general manager of Wanda Hotel Construction Ltd.* (萬達酒店建設有限公司) and the dean of Wanda Commercial Planning and Research Institute*（萬達商業規劃研究院）. Mr. Ning has extensive experience in property development and property management (including hotel development and hotel construction management).

Mr. Ning obtained his bachelor's degree in engineering from Northwest Architecture Engineering Institute (西北建築工程學院) in July 1986, a master's degree in engineering from Northwest Metallurgical Construction Institute (西北冶金建築學院) in July 1992 and a Ph.D in engineering from Tongji University (同濟大學) in May 2004.

As at the date of this announcement, Mr. Ning is interested in 6,000,000 shares of Dalian Wanda Commercial, representing approximately 0.13% of the total issued shares of Dalian Wanda Commercial, a controlling shareholder of the Company.

Non-executive Directors Mr. Zhang Lin (張霖 ), aged 45, has been serving as the director of Dalian Wanda Group since February 2011. Mr. Zhang has concurrently been acting as the chairman and a director of Wanda Film Holding Co. Ltd* (萬達電影股份有限公司) (a company listed on the Shenzhen Stock Exchange, stock code : 002739.SZ) since November 2006; the chairman and a director of AMC

Entertainment Holdings, Inc. (a company listed on the New York Stock Exchange, stock code: AMC) since August 2012; the chief executive officer of Wanda Culture since December 2012; the president of Wanda Cultural since January 2014; the chairman of the board of Infront Holding AG since July 2015; and the chairman of World Triathlon Corporation since November 2015. In addition, Mr. Zhang had also been a non-executive director of Dalian Wanda Commercial since December 2009 to 29 January 2016. He joined Dalian Wanda Group in March 2000 and formerly held various positions, including but not limited to the vice president of Dalian Wanda Group and the finance director of Dalian Wanda Group and general manager of project companies in Chengdu, Shenyang and Nanjing respectively. Mr. Zhang has extensive experience in financial management and operation management of large property development, property management, and entertainment corporations, especially in corporate strategy and investment.

Mr. Zhang received an Executive Master of Business Administration degree from Beijing University (北京大學) in January 2012 and a bachelor's degree in accounting from Dongbei University of Finance and Economics (東北財經大學) in July 1994. Mr. Zhang is a non-practicing member of the Chinese Institute of Certified Public Accountants and a non-practicing member of the China Certified Tax Agents Association.

As at the date of this announcement, Mr. Zhang is interested in 10,000,000 shares of Dalian Wanda Commercial, representing approximately 0.22% of the total issued shares of Dalian Wanda Commercial, a controlling shareholder of the Company.

Mr. Hui Yung, Chris (許勇 ), aged 49, has been the vice president, secretary of the board of directors and the general manager of securities department of Dalian Wanda Commercial since September 2015. Prior to joining the Company, Mr. Hui had served as a partner of J&Partners

from December 2010 to September 2015. From August 2001 to July 2010, he worked for Barclays Investment Bank where he served as a managing director and head of its Investment Banking Division in China and Hong Kong. He also served as a director of Xinhua Trust from 2009 to 2010; a director of Deutsche Bank and head of its multinational corporations and department of structural finance products in Asia Pacific from March 1996 to July 2001; and a vice president of Merrill Lynch Capital Markets from April 1993 to February 1996. Mr. Hui has more than 20 years of solid experience in investment and capital markets.

He graduated from the Chinese University of Hong Kong with a bachelor's degree in Business Administration.

Save for disclosed above, each of the New Directors has not held any directorship in any public listed companies in Hong Kong or overseas in the past three years nor does he has any relationships with any Directors, senior management, substantial shareholders or controlling shareholders of the Company.

Each of the New Directors has entered into a service contract with the Company for a term of three years commencing from 17 November 2017 and renewable automatically for successive terms of one year commencing from the date next after the expiry of the then current term. Such appointment can be terminated by three months' advance notice in writing by the Director or the Company and is subject to the provisions of the bye-laws of the Company and the Listing Rules. Each of the New Directors will hold office until the first general meeting of the Company after the appointment and will be eligible for re-election at that meeting and will thereafter be subject to the provisions of retirement by rotation and re-election contained in the bye-laws of the Company at future annual general meetings. No New Directors will receive a fee for serving on the Board.

As at the date of this announcement, save as disclosed above, none of New Directors have any interest in the shares of the Company within the meaning of Part XV of the SFO. Save for disclosed above, there is no other information which needs to be disclosed pursuant to Rule 13.51(2) of the Listing Rules nor are there other matters that need to be brought to the attention of the Shareholders in relation to the appointment of the New Directors.

CHANGE OF COMPOSITION OF BOARD COMMITTEES

The Board announces that, following the change of Directors as set out above and with effect from 17 November 2017:

1. Mr. Qi Jie has ceased to be a member of each of the Audit Committee and Remuneration Committee; and

2. Mr. Hui Yung, Chris has been appointed as a member of each of the Audit Committee and Remuneration Committee.

CHANGE OF AUTHORISED REPRESENTATIVE

Mr. Liu Chaohui has resigned as an authorised representative of the Company and Mr. Hui Yung, Chris has been appointed as a new authorised representative of the Company for the purpose of Rule 3.05 of the Listing Rules with effect from 17 November 2017.

The Board would like to express its gratitude to all the resigning Directors for their valuable contributions to the Company during their terms of service and would like to extend its warm welcome to the New Directors in joining the Board.