Zhenro Properties : (1) APPOINTMENT OF VICE CHAIRMAN OF THE BOARD; AND (2) APPOINTMENT OF EXECUTIVE DIRECTOR AND EXECUTIVE VICE PRESIDENT

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Zhenro Properties Group Limited ͍࿲ήପණྠϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6158)

(1) APPOINTMENT OF VICE CHAIRMAN OF THE BOARD; AND

(2) APPOINTMENT OF EXECUTIVE DIRECTOR AND

EXECUTIVE VICE PRESIDENT

The Board is pleased to announce that (i) Mr. Liu Weiliang, an executive Director of the Company, has been appointed as vice chairman of the Board with effect from 26 March 2021; and (ii) Mr. Li Yang has been appointed as an executive Director and executive vice president of the Company with effect from 26 March 2021.

APPOINTMENT OF VICE CHAIRMAN OF THE BOARD

The board (the "Board") of directors (the "Director(s)") of Zhenro Properties Group Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr. Liu Weiliang ("Mr. Liu"), an executive Director of the Company, has been appointed as the vice chairman of the Board with effect from 26 March 2021.

Biographical details of Mr. Liu

Mr. Liu Weiliang, aged 37, was appointed as the executive Director of the Company on 8 June 2020 and has been appointed as the vice chairman of the Board with effect from 26 March 2021. He has over 13 years of experience in the real estate industry. Mr. Liu joined the Group in June 2016, and has held various key positions successively, including: (i) the deputy general manager of Zhenro (Changsha) Real Estate Co., Ltd (͍࿲€ڗӍໄุϞࠢʮ̡) and the project manager for real estate project of Zhenro Properties Holdings Company Limited (͍࿲ήପછٰٰ΅Ϟࠢ ʮ̡) ("Zhenro Properties Holdings") in Yichun from June 2016 to August 2017; (ii) the general manager of the merger department of the strategic investment centre and subsequently the general manager of the strategic investment centre of Zhenro Properties Holdings from August 2017 to May 2019; (iii) the vice president of Zhenro Properties Holdings from May 2019 to January 2021; (iv) a director of Zhenro Properties Holdings since November 2019; and€vMr. Liu has held several positions in Zhenro Group Company Limited ("Zhenro Group Company") since November 2018. He served successively as the deputy general manager of the strategic operation centre, the general manager of the human resources department, the assistant to the chief executive officer and the executive vice president. Before joining the Group, Mr. Liu worked in several real estate companies in the PRC, including (i) the development manager of Evergrande Properties Changsha Real Estate Co., Ltd (㛬ɽήପڗӍໄุʮ̡) and the deputy general manager of Chenzhou Real Estate Co., Ltd (₉ψໄุʮ̡) successively from July 2008 to May 2012; and (ii) the deputy general manager of Heneng Properties Real Estate Co., Ltd (ΥঐήପڗӍໄุʮ̡) from May 2012 to June 2016. Mr. Liu obtained a bachelor's degree in engineering management from Changsha University of Science & Technology in 2007.

The Company will not enter into a separate service agreement with Mr. Liu as vice chairman of the Board. As an executive Director of the Company, the Company has entered into an executive director service agreement with him, for a term of three years commencing from 8 June 2020. Mr. Liu receives an annual basic salary of RMB2,715,100 per annum and a discretionary bonus, to be determined by the remuneration committee of the Company with reference to his commitment, responsibilities and performance as well as the Group's performance and prevailing market conditions. Mr. Liu will continue to be subject to retirement by rotation and re-election at annual general meetings in accordance with the articles of association of the Company

Save as disclosed in this announcement, Mr. Liu does not (i) hold any other position with the Company or its subsidiaries; (ii) hold any other directorships in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iii) have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company.

As at the date of this announcement, Mr. Liu does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

Save as disclosed above, there is no other matter relating to the appointment of Mr. Liu as vice chairman of the Board that needs to be brought to the attention of the shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

APPOINTMENT OF EXECUTIVE DIRECTOR AND EXECUTIVE VICE PRESIDENT

The Board is pleased to announce that Mr. Li Yang ("Mr. Li") has been appointed as an executive Director and executive vice president of the Company with effect from 26 March 2021.

Biographical details of Mr. Li

Mr. Li Yang, aged 36, has been appointed as an executive director and the executive vice president of the Company with effect from 26 March 2021. Mr. Li is mainly responsible for managing the day-to-day operations of Zhenro Properties Holdings. He has around 10 years of experience in the real estate industry. Mr. Li joined the Group in April 2018, and has held various key positions successively, including: (i) the regional executive deputy general manager and general manager in the Hefei region, and regional general manager in the Zhengzhou region successively from April 2018 to July 2019; (ii) the assistant to the chief executive officer and vice president of Zhenro Properties Holdings successively from July 2019 to January 2021; and (iii) a director and the executive vice president of Zhenro Properties Holdings since January 2021. From July 2019, Mr. Li has been responsible for the management of various functional departments successively, including comprehensive management, design, operation, investment, legal and audit. Before joining the Group, Mr. Li served in various roles in H-Change Group (ձ׹ණྠϞࠢʮ̡), including: (i) a general manager of the Hefei Company and an assistant to the president of Eastern China region successively from July 2011 to August 2017; and (ii) the operation vice president of the Southern China region from August 2017 to April 2018. Mr. Li obtained a bachelor's degree in arts from Anhui Polytechnic University (formerly known as Anhui Institute of Engineering and Technology (τᏏʈ೻߅Ҧኪ৫)) in July 2008 and further obtained a master's degree in arts from Anhui University in July 2011.

The Company will sign a service agreement with Mr. Li, for a term of three years commencing from 26 March 2021. As an executive Director of the Company, Mr. Li receives an annual basic salary of RMB2,177,000 per annum and a discretionary bonus, to be determined by the remuneration committee of the Company with reference to his commitment, responsibilities and performance as well as the Group's performance and prevailing market conditions. Mr. Li will be subject to retirement by rotation and re-election at annual general meetings in accordance with the articles of association of the Company.

Save as disclosed in this announcement, Mr. Li does not (i) hold any other position with the Company or its subsidiaries; (ii) hold any other directorships in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iii) have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company.

As at the date of this announcement, Mr. Li does not have any interest in the shares of the Company within the meaning of Part XV of the SFO.

Save as disclosed above, there is no other matter relating to the appointment of Mr. Li as an executive Director that needs to be brought to the attention of the shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to (v) of the Listing Rules.

The Board would like to express its warmest welcome to Mr. Liu and Mr. Li on their new appointments.

By Order of the Board Zhenro Properties Group Limited

Huang Xianzhi Chairman of the Board

Hong Kong, 26 March 2021

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