Yida China : CHANGE OF DIRECTORS

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.

YIDA CHINA HOLDINGS LIMITED

億 達 中 國 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3639)

CHANGE OF DIRECTORS

The Board hereby announces that, with effect from 31 March 2021:

1. Mr. Yu Shiping has resigned as an executive Director;
2. Ms. Zheng Xiaohua has resigned as an executive Director;
3. Mr. Cheng Xuezhi has been appointed as a non-executive Director; and
4. Mr. Ni Jie has been appointed as a non-executive Director.

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

RESIGNATION OF EXECUTIVE DIRECTORS

The board (the "Board") of directors (the "Directors") of the Company hereby announces that each of Mr. Yu Shiping ("Mr. Yu") and Ms. Zheng Xiaohua ("Ms. Zheng") has resigned as an executive Director with effect from 31 March 2021 as they would like to devote more time to their respective personal committments. Each of Mr. Yu and Ms. Zheng has confirmed that there is no disagreement with the Board and he/she is not aware of any matters that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange") in relation to his/her resignation.

The Board takes this opportunity to express its sincere gratitude to Mr. Yu and Ms. Zheng for their respective valuable contribution to the Company during his/her tenure of office.

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APPOINTMENT OF NON-EXECUTIVE DIRECTORS

The Board is pleased to announce that each of Mr. Cheng Xuezhi (程學志) ("Mr. Cheng") and Mr. Ni Jie (倪傑) ("Mr. Ni") has been appointed as non-executive Directors with effect from 31 March 2021.

The biographical details of Mr. Cheng are set out below:

Mr. Cheng Xuezhi (程學志)

Mr. Cheng, aged 49, graduated from Nanjing University (南京大學) in July 1993 with a bachelor's degree in weather dynamics. He obtained a master's degree in mathematics from Nankai University (南 開大學) in July 1996. He further obtained a PhD in mathematics from Northwestern University, Illinois, US in June 2005.

Mr. Cheng has held several senior management positions in the investment or risk department at various

companies. From June 2011 to March 2013, Mr. Cheng served as a general manager of the capital operation department at Parkland Commercial Real Estate Co., Ltd. (百年城商業地產有限公司). From

March 2013 to April 2017, Mr. Cheng was the deputy general manager of the risk control department at Bohai International Trust Co., Ltd. (渤海國際信託股份有限公司). From May 2017 to December 2017, Mr. Cheng held the position of chief risk officer at Tebon Innovation Capital Co., Ltd. (德邦創新資本 有限責任公司). From December 2017 to November 2018, Mr. Cheng served as the chief investment officer at Tehua Investment Holdings Co., Ltd. (特華投資控股有限公司). From November 2018 to

August 2020, Mr. Cheng was a senior research director at Zhijiang New Industrial Co., Ltd. (之江新實 業有限公司). Mr. Cheng joined China Minsheng Investment Co., Ltd. (中國民生投資股份有限公司) as

the director of asset operation department since August 2020.

Mr. Cheng has entered into a letter of appointment with the Company in respect of the appointment as a non-executive Director for a term of three years commencing from 31 March 2021. He is entitled to a director's fee of HK$60,000 per annum for his directorship in the Company, which was determined by the Board on the recommendation of the remuneration committee of the Company with reference to his qualifications, experience, duties and responsibilities, as well as the prevailing market conditions.

Pursuant to the articles of association of the Company, Mr. Cheng shall hold office until the first general meeting of the Company following his appointment and shall then be eligible for re-election at the meeting and thereafter, shall be subject to retirement by rotation at least once every three years.

Save as disclosed above, as at the date of this announcement, Mr. Cheng has not held any directorship in the past three years in any public companies whose securities are listed on any securities market in Hong Kong or overseas.

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Save as disclosed above, Mr. Cheng does not (i) have any relationship with any Director, senior management, substantial shareholder or controlling shareholder of the Company; (ii) hold any other position with the Company or any of its subsidiaries; and (iii) have any interest in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as at the date of this announcement.

Mr. Cheng has confirmed that there is no other information relating to his appointment that is required to be disclosed pursuant to the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules and there are no other matters in connection with his appointment that need to be brought to the attention of the shareholders of the Company.

The biographical details of Mr. Ni are set out below:

Mr. Ni Jie (倪傑)

Mr. Ni, aged 32, obtained his bachelor's degree in accounting from Shanghai International Studies University (上海外國語大學) in June 2011.

From September 2011 to July 2016, Mr. Ni worked as an auditor at the Shanghai office of Ernst & Young Hua Ming LLP (Special General Partnership). From July 2016 to September 2019, Mr. Ni served

as an assistant to the general manager of the finance and treasury department of SRE Group Co., Ltd. (上 置集團有限公司), a company listed on the Main Board of the Stock Exchange (stock code: 1207). Since

October 2019, Mr. Ni has successively served as a deputy general manager of the finance and treasury

department and a general manager of the finance management department at China Minsheng Jiaye Investment Co., Ltd. (中民嘉業投資有限公司).

Mr. Ni was admitted as a certified public accountant by the China Association of Certified Public Accountants (中國註冊會計師協會) in 2016.

Mr. Ni has entered into a letter of appointment with the Company in respect of the appointment as a non-executive Director for a term of three years commencing from 31 March 2021. He is entitled to a director's fee of HK$60,000 per annum for his directorship in the Company, which was determined by the Board on the recommendation of the remuneration committee of the Company with reference to his qualifications, experience, duties and responsibilities, as well as the prevailing market conditions.

Pursuant to the articles of association of the Company, Mr. Ni shall hold office until the first general meeting of the Company following his appointment and shall then be eligible for re-election at the meeting and thereafter, shall be subject to retirement by rotation at least once every three years.

Save as disclosed above, as at the date of this announcement, Mr. Ni has not held any directorship in the past three years in any public companies whose securities are listed on any securities market in Hong Kong or overseas.

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Save as disclosed above, Mr. Ni does not (i) have any relationship with any Director, senior management, substantial shareholder or controlling shareholder of the Company; (ii) hold any other position with the Company or any of its subsidiaries; and (iii) have any interest in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as at the date of this announcement.

Mr. Ni has confirmed that there is no other information relating to his appointment that is required to be disclosed pursuant to the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules and there are no other matters in connection with his appointment that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to express its warmest welcome to Mr. Cheng and Mr. Ni for joining the Company.

By order of the Board

Yida China Holdings Limited

Jiang Xiuwen

Chairman and Chief Executive Officer

Hong Kong, 31 March 2021

As at the date of this announcement, the executive director of the Company is Mr. Jiang Xiuwen, the non-executive directors of the Company are Mr. Wang Gang, Mr. Zhang Xiufeng, Mr. Cheng Xuezhi and Mr. Ni Jie and the independent non-executive directors of the Company are Mr. Yip Wai Ming, Mr. Guo Shaomu, Mr. Wang Yinping and Mr. Han Gensheng.

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