China Fortune : RE-DESIGNATION OF A DIRECTOR

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China Fortune Holdings Limited

中 國 長 遠 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability, carrying on business in H.K. as CFH Ltd.)

(Stock Code: 110)

RE-DESIGNATION OF A DIRECTOR

RE-DESIGNATION OF A DIRECTOR

The board (the "Board") of directors (the "Directors") of China Fortune Holdings Limited (the "Company") announces that Mr. Hou Zhenyang ("Mr. Hou") has been re-designated from a non-executive Director to an executive Director with effect from 19 April 2021. Mr. Hou, aged 46, was appointed as a non-executive Director on 1 September 2020.

He has over 15 years of experience in real estate investment trust funds (REITs), real estate development, management, acquisition, asset management, insurance and business management. He obtained a bachelor's degree in economics and marketing and a master degree in business administration from the University of Auckland, New Zealand, in 1997 and 2009, respectively.

Mr. Hou served in various positions of KVB Global Capital Limited from 2008 to 2014, including manager of the finance department, vice chairman, head of the investment and director. He joined as a managing partner of United States RW Holdings REIT, Asia from 2015 to 2019. He is currently the president of Asia Region of USA InvestCo Holdings Inc since July 2019 and also the vice chairman of Irvine Family Offices, Asia, since July 2020. Mr. Hou has extensive experience in business management, real estate operations, investment and financing as well as risk management.

• For identification purpose only

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Mr. Hou has entered into a service agreement with the Company, pursuant to which Mr. Hou shall hold office for an initial term of three years commencing from 19 April 2021, unless terminated by either party in accordance with the terms thereof. Mr. Hou shall be eligible for re-election in accordance with the bye-laws of the Company. Pursuant to the service agreement, he will be entitled to a director's fee of HK$240,000 per annum. The director's fee of Mr. Hou are determined by the Board with the recommendation of the remuneration committee of the Board and after taking into account his experiences, duties and responsibilities within the Company and the prevailing market conditions.

Save as disclosed above, as at the date of this announcement, Mr. Hou does not (i) hold any other position with the Company or its subsidiaries or other major appointments and professional qualifications; (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; (iii) have any relationship with any other Directors, senior management or substantial or controlling shareholders of the Company (as defined in the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules")); and (iv) have any interests in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there are no other matters relating to the re-designation of Mr. Hou that need to be brought to the attention of the shareholders of the Company and there is no other information that should be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules. The Board would like to take this opportunity to express its warmest welcome to Mr. Hou for his new position.

By Order of the Board

China Fortune Holdings Limited

Lau Siu Ying

Chairman and Chief Executive Officer

Hong Kong, 19 April 2021

As at the date of this announcement, the Board comprises three executive directors, namely Mr. Lau Siu Ying, Mr. Wang Yu and Mr. Hou Zhenyang; and three independent non-executive directors, namely Dr. Law Chun Kwan, Mr. Fok Wai Ming, Eddie and Dr. Lo Wai Shun.

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