Country Garden Services : INSIDE INFORMATION ANNOUNCEMENT(1) MEMORANDUM OF UNDERSTANDING IN RESPECT OF A POSSIBLE TRANSACTION; AND(2) RESUMPTION OF TRADING

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 appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.

COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED ၀࣭෤؂ਕછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6098)

INSIDE INFORMATION ANNOUNCEMENT

(1) MEMORANDUM OF UNDERSTANDING IN RESPECT OF

A POSSIBLE TRANSACTION; AND

(2) RESUMPTION OF TRADING

This announcement is made by Country Garden Services Holdings Company Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

MOU

On 23 February 2021, Country Garden Property Services HK Holdings Company Limited (၀࣭෤يุ࠰ಥછٰϞࠢʮ̡), a wholly-owned subsidiary of the Company, (the "Subsidiary") entered into a memorandum of understanding (the "MOU") with Sichuan Languang Hejun Industries Co., Ltd. ("Languang Hejun") in respect of a possible acquisition of 115,090,200 H shares in Sichuan Languang Justbon Services Group Co., Ltd. (̬ʇᔝΈྗᘒ؂ਕණྠٰ΅Ϟ ࠢʮ̡) (the "Target"), a joint stock company incorporated in the People's Republic of China with limited liability (stock code: 2606) (representing approximately 64.62% equity interest in the Target) by the Subsidiary from Languang Hejun at a price of RMB42.1105 per H share (the "Possible Transaction").

Detailed terms of the Possible Transaction are still subject to negotiation and finalization and no binding definitive agreement has been entered into between the parties. If the Possible Transaction materializes, it will constitute a notifiable transaction of the Company under Chapter 14 of the Listing Rules and the Company will make appropriate disclosure in compliance with the Listing Rules. In connection with the Possible Transaction, the general offer obligation under the Hong Kong Code on Takeovers and Mergers (the "Takeovers Code") may be triggered on the part of the Subsidiary under the Takeovers Code. The offer price per H share will be no less than the higher of (i) the price paid by the Subsidiary to Languang Hejun, and (ii) the Hong Kong dollar equivalent of RMB42.1105.

Sichuan Languang Development Co., Ltd. ("Languang Development") is required to issue an announcement on the MOU disclosing the above consideration amount pursuant to the regulatory guidance of the Shanghai Stock Exchange.

Exclusivity

From the date of the MOU to 31 March 2021, the Subsidiary shall have the right to exclusivity regarding the Possible Transaction. During the exclusivity period, Languang Hejun is required to seek the Subsidiary's consent before providing information or making an offer or invitation to or conducting any discussion with any third party, regarding the transfer of securities by or security transactions of the H shares or domestic shares held by Languang Hejun.

Binding effect of MOU

The MOU is not legally binding, save for certain provisions regarding confidentiality and exclusivity.

INFORMATION ON LANGUANG HEJUN

As at the date of this announcement, Languang Hejun held 115,840,200 shares of the Target, comprising 115,090,200 H shares and 750,000 domestic shares, representing in aggregate approximately 65.04% equity interests in the Target. Languang Hejun is a wholly-owned subsidiary of Languang Development, a joint stock company with limited liability established in the PRC and listed on the Shanghai Stock Exchange (stock code: 600466). To the best knowledge and belief of the Company after having made all reasonable enquiries, as at the date of this announcement, Languang Hejun and its beneficial owners are third parties independent of and not connected with the Company and its connected persons (as defined under the Listing Rules).

INFORMATION ON THE TARGET

The Target is a leading property management service provider in Southwest China and Sichuan Province and is principally engaged in the provision of property management services, consultancy services and community value-added services.

WARNING: There is no assurance that the Possible Transaction will materialise or eventually be consummated. Shareholders of the Company and potential investors are reminded to exercise caution when dealing in the shares of the Company. Persons who are in doubt as to the action they should take should consult their stockbrokers, bank managers, solicitors or other professional advisors.

RESUMPTION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was halted with effect from 9: 00 a.m. on 23 February 2021 pending the release of this announcement.

Application has been made to the Stock Exchange for the resumption of trading of the shares of the Company on the Stock Exchange with effect from 9: 00 a.m. on 26 February 2021.

By order of the Board

Country Garden Services Holdings Company Limited

LI Changjiang

Executive Director

Foshan, China, 25 February 2021

As at the date of this announcement, the directors of the Subsidiary are Ms. YANG Huiyan, Mr. LI Changjiang and Mr. YANG Zhicheng.

As of the date of this announcement, the executive directors of the Company are Mr. LI Changjiang, Mr. XIAO Hua and Mr. GUO Zhanjun. The non-executive directors of the Company are Ms. YANG Huiyan (Chairman), Mr. YANG Zhicheng and Ms. WU Bijun. The independent non-executive directors of the Company are Mr. MEI Wenjue, Mr. RUI Meng and Mr. CHEN Weiru.

The directors of each of the Subsidiary and the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.