GR Properties : FURTHER DELAY IN DESPATCH OF CIRCULAR IN RELATION TO (I) MAJOR AND CONNECTED TRANSACTIONS - ACQUISITION OF CAPABLE KINGDOM LIMITED AND DISPOSAL OF WHOLLY EXPRESS LIMITED; AND (II) POSSIBLE CONNECTED TRANSACTION AND CONTINUING CONNECTED TRANSACTIONS

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.

GR PROPERTIES LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 108)

FURTHER DELAY IN DESPATCH OF CIRCULAR

IN RELATION TO

1. MAJOR AND CONNECTED TRANSACTIONS - ACQUISITION OF CAPABLE KINGDOM LIMITED AND

DISPOSAL OF WHOLLY EXPRESS LIMITED; AND

1. POSSIBLE CONNECTED TRANSACTION AND CONTINUING CONNECTED TRANSACTIONS

Reference is made to (i) the announcement of GR Properties Limited (the "Company") dated 16 July 2019 (the "Announcement") with regard to, among other things, the acquisition of all issued shares of Capable Kingdom Limited in exchange for all issued shares of Wholly Express Limited held by the Company (the "Transactions"); and (ii) the announcement of the Company dated 16 August 2019 (the "Delay Announcement") in relation to the delay in despatch of circular. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

As set out in the Delay Announcement, a circular (the "Circular") containing, among other things, details about the Transactions, was expected to be despatched to the Shareholders on or before 30 August 2019. As additional time is required to prepare and finalise certain information to be included in the Circular, the despatch of the Circular will be postponed to a date on or before 30 September 2019.

By Order of the Board

GR Properties Limited

Wei Chunxian

Chairman

Hong Kong, 30 August 2019

As at the date of this announcement, the executive directors of the Company are Mr. Wei Chunxian, Mr. Sun Zhongmin, Ms. Liu Shuhua, Mr. Guo Jingsheng, Ms. Huang Fei and Ms. Li Bing; and the independent non-executive directors of the Company are Mr. Tung Woon Cheung Eric, Ms. To Tsz Wan Vivien and Mr. Au Yeung Po Fung.