Zhong An Real Estate : Proposed Change of Company Name From “Zhong An Real Estate” to “Zhong An Group” Approved at the General Meeting

For immediate release

6 June 2019

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(Stock Code: 672)

Proposed Change of Company Name From "Zhong An Real Estate" to "Zhong An Group" Approved at the General Meeting

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(6 June 2019- Hong Kong) The proposal of changing the company name of Zhong An Real Estate Limited ("Zhong An Real Estate" or the "Group"; stock code: 672.HK), a leading property developer in the Yangtze River Delta, the PRC, was officially approved at the general meeting. Its Chinese name will be changed from "眾安房產有限公司" to "眾安集團有限公司", while the English name will be changed from "Zhong An Real Estate Limited" to "Zhong An Group Limited".

Since its establishment, Zhong An Group has been dedicated to the business of property development. Benefiting from multiple favourable factors and support from customers, the Group has witnessed significant expansion in its business operations. The Group's diversifying business now covers various sectors such as property development, commercial leasing, hotel operations, property management, health care, and cultural tourism.

The past year of 2018 has been a year of change and innovation for the group. Through the organizational restructuring and resource integration of the development sector, the property sector and the commercial sector, the group has realized the development strategy of "one body, two wings", focusing on real estate development and financial capital as a boost, successfully developed a complete and comprehensive business structure.

In 2018, the Group recorded annual contracted sales of RMB5,823.5 million; contracted GFA was about 384,763 sq.m.; recognised average selling price per sq.m. was about RMB13,646.6, representing an increase of about 32.3% from the previous year.

For hotel operation, there are three hotels currently under the Group's operation, Holiday Inn Hangzhou Xiaoshan, Hangzhou Qiandao Lake Bright Resort Hotel and Huaibei Bright Hotel. This segment contributed revenue of approximately RMB111.3 million to the Group in 2018.

For commercial leasing, the Group mainly operates Highlong Plaza, International Office Centre (IOC), Intime City and the shopping units of Hidden Dragon Bay. Revenue from the leasing business reached RMB179.5 million in 2018.

For property management, the Group provides quality property management services to the properties developed by the Group and to other property owners. In an effort to offer more diversified and customer-centric services, the Group added travel tours, housekeeping and nanny services to its existing portfolio in 2018. This has greatly enhanced its service quality and strengthened its corporate brand management.

The Group achieved greater progress in developing new industries such as education and culture, healthcare, film and television entertainment, leisure travel and modern agriculture while further expanding its commercial property business. It also introduced a new business form themed on children's activities, "Happy Time", which focused on urban children's services comprising children's health, education, entertainment and sports activities.

The management of Zhong An Group said, the change of company name is in line with the current actual business situation, and reflects the Group's future strategic direction and development plan. In the future, with a focus on the

overall market demand, the Group will seek to enhance its ability to innovate and strive to improve the existing products, so as to progressively build up a more sophisticated and competitive product lines and create returns for shareholders by operating under the name "Zhong An Group".

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About Zhong An Real Estate Limited

Zhong An Real Estate Limited, the leading real estate developer in Yangtze River Delta region, focuses on the development of mid- to-high-end residential and urban complexes while values the diverse development and is involved in various investments such as property investments, property management and special services. Since its establishment in 1997, the Group has focused on the market in Yangtze River Delta region and has been rewarded a strong brand advantage in the region.

This press release is issued by Wonderful Sky Financial Group Company Limited on behalf of Zhong An Real Estate Limited.

For further information, please refer to the company website:

http://www.zafc.com/c/index.php

Or contact:

Wonderful Sky Financial Group Company Limited

Crystal HUA / Sophie Liang

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Fax: [phone]

Email: [e-mail] / [e-mail]

Zhong An Real Estate Limited (HKEX: 672)

YANG Yihong

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