REDEMPTION AND CANCELLATION OF 8.0% SENIOR NOTES DUE 2020 (ISIN: XS2080542363; Common Code: 208054236; Stock Code: 85911)

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.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein will not be registered under the Securities Act, and may not be offered or sold in the United States except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

Zhenro Properties Group Limited

正榮地產集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6158)

REDEMPTION AND CANCELLATION OF 8.0% SENIOR NOTES DUE 2020

(ISIN: XS2080542363; Common Code: 208054236; Stock Code: 85911)

Reference is made to the announcement of Zhenro Properties Group Limited (the "Company") dated November 18, 2019 (the "Announcement") in relation to the issuance of the RMB700,000,000 8.0% Senior Notes due 2020 (the "November 2019 RMB Notes"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcement.

Pursuant to the indenture dated November 18, 2019 among the Company, the subsidiary guarantors and Citicorp International Limited, as trustee (the "November 2019 RMB Trustee") entered into in connection with the issue of November 2019 RMB Notes, the Company announces today that it has informed the November 2019 RMB Trustee that all outstanding November 2019 RMB Notes will be redeemed in full on September 7, 2020 (the "Redemption Date") at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, to (but not including) the Redemption Date.

As of the date of this announcement, the principal amount of the November 2019 RMB Notes is RMB700,000,000.

Upon redemption of the outstanding November 2019 RMB Notes, all the redeemed November 2019 RMB Notes will be cancelled and the Company will apply for withdrawal of the listing of the November 2019 RMB Notes.

By Order of the Board

Zhenro Properties Group Limited

Huang Xianzhi

Chairman

Hong Kong, 7 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Huang Xianzhi, Mr. Chan Wai Kin and Mr. Liu Weiliang, the non-executive director of the Company is Mr. Ou Guowei, and the independent non-executive directors of the Company are Dr. Loke Yu (alias Loke Hoi Lam), Mr. Wang Chuanxu and Mr. Lin Hua.