Zhongguancun Science Tech Leasing : (1) RESIGNATION OF NON-EXECUTIVE DIRECTOR; (2) PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR; (3) RESIGNATION OF SHAREHOLDER REPRESENTATIVE SUPERVISOR AND (4) PROPOSED APPOINTMENT OF SHAREHOLDER REPRESENTATIVE SUPERVISOR

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.

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ZHONGGUANCUN SCIENCE-TECH LEASING CO., LTD.

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1601)

(1) RESIGNATION OF NON-EXECUTIVE DIRECTOR;

(2) PROPOSED APPOINTMENT OF

NON-EXECUTIVE DIRECTOR;

(3) RESIGNATION OF SHAREHOLDER REPRESENTATIVE SUPERVISOR

AND

(4) PROPOSED APPOINTMENT OF SHAREHOLDER REPRESENTATIVE SUPERVISOR

This announcement is made pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

1. RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Director(s)") of Zhongguancun Science-Tech Leasing Co., Ltd. (the "Company") hereby announces that Mr. LI Peng ( ҽᘄ) ("Mr. Li") has tendered his resigned as the non-executive Director and the member of the audit committee of the Board with effect from March 19, 2021, due to his intention to devote more time to his other personal commitments.

Mr. Li has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company (the "Shareholders") and the Stock Exchange.

2. PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR

In view of Mr. Li's resignation, upon consideration of the opinion from the nomination committee of the Board, the Board has resolved to propose the appointment of Mr. DU Yunchao ( Ӂථ൴ ) ("Mr. Du") as a non-executive Director at the first session of the Board (the "Proposed Appointment of Director").

Mr. Du, aged 50, obtained a college degree in trade economy in July, 1997, and a bachelor's degree in Business Administration in July, 2001, from Capital University of Economics and Business. Mr. Du currently serves as finance director of Beijing Chaoyang District Wangjing Xinxing Industry Zone Comprehensive Development Company ( ̏ԯૐԯอጳପุਜၝΥක೯Ϟࠢʮ̡) since July, 2017. Mr. Du served as the deputy director of Chaoyang District of Beijing Municipal Audit Bureau ( ̏ԯ̹ಃජਜᄲࠇ҅ ) from December, 2011 to July, 2017. From December 2003 to December 2011, he successively served as a vice director, a principal staff member (˴ ΂߅ࡰ ) and a vice principal staff member in planning and finance division of administration and finance department of Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region ( ʕ̯ɛ͏ִ݁ታ࠰ಥतйБ݁ਜᑌഖ፬ʮ܃ ). He served as a deputy section chief of the office of statistics and evaluation in the Chaoyang District of Beijing Municipal Finance Bureau ( ̏ԯ̹ಃජਜৌ݁҅ ) from January, 2002 to December, 2003. From July, 1993 to January 2002, he successively served as a deputy section chief, a vice principal staff member and a staff member of comprehensive department in Chaoyang District of Beijing Municipal Administration of State-owned Assets ( ̏ԯ̹ಃජਜ਷Ϟ༟ପ၍ଣ҅ ).

Save as disclosed above, Mr. Du has confirmed that he does not hold any other position with the Company or any directorship in any other listed companies in the last three years. Also, Mr. Du does not have any relationship with any directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company.

As at the date of this announcement, Mr. Du does not or is not deemed to have any interest in any shares, underlying shares or debenture of the Company or any of its associated corporation within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

The appointment of Mr. Du as a non-executive Director will be subject to the approval of the Shareholders by an ordinary resolution at the forthcoming annual general meeting of the Company (the "AGM"). Mr. Du will enter into a service agreement with the Company as a non-executive Director. The term of office of Mr. Du will commence from the date of AGM until the conclusion of the first session of the Board (being August 13, 2022). Mr. Du. may be re-elected upon expiry of his/her term of office pursuant to the articles of association of the Company. Mr. Du will not receive any Director's fee from the Company. His remuneration is subject to decide by the Board from time to time with reference to his experience, duties and responsibilities, the prevailing market conditions, the remuneration policy of the Company and the recommendation from the remuneration committee of the Board.

Save as disclosed above, there are no other matters in relation to the Proposed Appointment of Director that need to be brought to the attention of the Shareholders, nor is there any information required to be disclosed by the Company in respect of the Proposed Appointment of Director pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules.

• 3. RESIGNATION OF SHAREHOLDER REPRESENTATIVE SUPERVISOR

  The Board hereby announces that Mr. LONG Limin ( Ꮂл͏ ) ("Mr. Long") has tendered his resigned as the shareholder representative supervisor of the Company (the "Shareholder Representative Supervisor") with effect from March 19, 2021, due to the re-arrangement of his position.

  Mr. Long has confirmed that he has no disagreement with the Board or the board of supervisors of the Company (the "Board of Supervisors"), and there is no other matter in relation to his resignation that needs to be brought to the attention of the Shareholders and the Stock Exchange.

• 4. PROPOSED APPOINTMENT OF SHAREHOLDER REPRESENTATIVE SUPERVISOR

  In view of Mr. Long's resignation, the Board of Supervisors proposed to appoint Mr. KAN Wei ( ㉬ ᙯ ) ("Mr. Kan") as the Shareholder Representative Supervisor at the first session of the Board of Supervisors (the "Proposed Appointment of Supervisor").

  Mr. Kan, aged 53, obtained a bachelor's degree in industrial foreign trade major of department of economics and management from Hunan University in June, 1990, and a master's degree in international finance in business school from University of New South Wales, Australia in April, 2002. He successively served as an assistant to president, a finance director, and a vice finance director in Beijing OriginWater Technology Co., Ltd. ( ̏ԯ၀˥๕߅Ҧٰ΅Ϟࠢʮ̡) from June, 2017. Mr. Kan served as CEO of Beijing OriginWater PurificationTechnology Co., Ltd. ( ̏ԯ၀˥๕ଋ˥߅ҦϞࠢʮ̡ ) from December, 2016, served as executive deputy general manager of Beijing OriginWater PurificationTechnology Co., Ltd. from April, 2011 to April, 2013, successively served as President, vice president, CFO, and Chief representative of Shanghai representative office in Altron (Guangzhou) Information Technology Co., Ltd. ( ڛဧ௴ ( ᄿψ) ڦࢹҦஔϞࠢʮ̡ ) from April, 2001 to May, 2010, and served as deputy Manager of Dalian branch of Kawasaki steamship (China) Co., Ltd from May, 1990 to June, 1998.

  Save as disclosed above, Mr. Kan has confirmed that he does not hold any other position with the Company or any directorship in any other listed companies in the last three years. Also, Mr. Kan does not have any relationship with any directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company.

  As at the date of this announcement, Mr. Kan does not or is not deemed to have any interest in any shares, underlying shares or debenture of the Company or any of its associated corporation within the meaning of Part XV of the SFO.

  The appointment of Mr. Kan as the Shareholder Representative Supervisor will be subject to the approval of the Shareholders by an ordinary resolution at the AGM. The term of office of Mr. Kan will commence from the date of AGM until the conclusion of the first session of the Board of Supervisors (being August 13, 2022).

  The Company will not enter into a service contract or an employment agreement with Mr. Kan solely in respect of his role as the Shareholder Representative Supervisor, and Mr. Kan will not receive any remuneration (including bonus payments, subsidies, allowances, and social insurance) in his position as the Shareholder Representative Supervisor.

Save as disclosed above, there are no other matters in relation to the Proposed Appointment of Supervisor that need to be brought to the attention of the Shareholders, nor is there any information required to be disclosed by the Company in respect of the Proposed Appointment of Supervisor pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules.

The Board and the Board of Supervisors would like to take this opportunity to thank Mr. Li and Mr. Long for their valuable contributions to the Company during their term of services and welcome Mr. Du and Mr. Kan on their new appointment.

GENERAL INFORMATION

A circular containing, among other things, details on the Proposed Appointment of Director and the Proposed Appointment of Supervisor and will be dispatched to the Shareholders as soon as practicable.

By order of the Board

Zhongguancun Science-Tech Leasing Co., Ltd.

DUAN Hongwei

Chairman

Beijing, the PRC, March 19, 2021

As at the date of this announcement, the Board comprises Mr. HE Rongfeng and Mr. HUANG Wen as executive Directors, Mr. DUAN Hongwei, Mr. LOU Yixiang, and Mr. ZHANG Shuqing as non-executive Directors, and Mr. CHENG Dongyue, Mr. WU Tak Lung and Ms. LIN Zhen as independent non-executive Directors.