Greentown China : RESIGNATION OF COMPANY SECRETARY, CHIEF FINANCIAL OFFICER AND AUTHORISED REPRESENTATIVE

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GREENTOWN CHINA HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03900)

RESIGNATION OF COMPANY SECRETARY,

CHIEF FINANCIAL OFFICER AND AUTHORISED REPRESENTATIVE

This announcement is made by Greentown China Holdings Limited (the "Company") pursuant to rule 13.51(5) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors of the Company (the "Board") announces that Mr Fung Ching, Simon ("Mr Fung") has, for personal development reasons, tendered his resignation as the company secretary and chief financial officer of the Company with effect from 1 January 2020. Mr Fung will accordingly cease to be an authorised representative of the Company for the purpose of Rule 3.05 of the Listing Rules and Part 16 of the Companies Ordinance with effect from the same day.

The Company is in the process of identifying suitable candidate to fill the vacancy of the company secretary and authorised representative. Further announcement will be made as and when appropriate.

The Board would like to take this opportunity to express its sincere gratitude to Mr Fung for his valuable contributions to the Company.

By order of the Board

Greentown China Holdings Limited

Zhang Yadong

Chairman

Hangzhou, the PRC

31 December 2019

As at the date of this announcement, the Board comprises Mr ZHANG Yadong, Mr LIU Wensheng, Mr ZHOU Lianying, Mr GUO Jiafeng, Mr GENG Zhongqiang and Mr LI Jun as executive directors, Mr Stephen Tin Hoi NG (Mr Andrew On Kiu CHOW as his alternate) as a non-executive director and Mr JIA Shenghua, Mr KE Huanzhang, Mr SZE Tsai Ping, Michael and Mr HUI Wan Fai as independent non-executive directors.

• For identification purpose only