Yuexiu Property : ANNOUNCEMENT

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.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00123)

ANNOUNCEMENT

This announcement is made pursuant to Rule 13.18 of the Listing Rules.

This announcement is made by the board of directors of Yuexiu Property Company Limited ("Company") pursuant to the disclosure requirements under Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules").

On 21 September 2020, the Company (as borrower) entered into a facility agreement ("Facility Agreement") with a bank ("Lender") pursuant to which a revolving loan facility of up to HK$500,000,000 or its US dollars equivalent will be made available by the Lender for a term of 12 months from the agreement date and subject to the terms and conditions of the Facility Agreement.

It was provided in the Facility Agreement that an event of default will occur if the direct or indirect shareholding of Yue Xiu Enterprises (Holdings) Limited ("Yue Xiu"), the controlling shareholder of the Company, in the issued voting share capital of the Company falls to below 30% or if Yue Xiu ceases to be the single largest beneficial shareholder of the Company, or if Yue Xiu ceases to maintain effective management control over the Company. Upon the occurrence of such event of default, the Lender may declare all the indebtedness under the facility would become immediately due and payable. As of the date of this announcement, Yue Xiu beneficially owns an aggregate of about 39.78% of the issued shares of the Company.

By Order of the Board

Yuexiu Property Company Limited

Yu Tat Fung

Company Secretary

Hong Kong, 21 September 2020

As at the date of this announcement, the board of directors comprises:

Executive Directors:	LIN Zhaoyuan (Chairman), LIN Feng, LI Feng, CHEN Jing
	and LIU Yan
Non-executive Director:	OUYANG Changcheng

Independent Non-executive Directors: YU Lup Fat Joseph, LEE Ka Lun and LAU Hon Chuen Ambrose