Times Neighborhood : INSIDE INFORMATION POSITIVE PROFIT ALERT

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TIMES NEIGHBORHOOD HOLDINGS LIMITED

時 代 鄰 里 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9928)

INSIDE INFORMATION

POSITIVE PROFIT ALERT

This announcement is made by Times Neighborhood Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to inform shareholders and potential investors of the Company that, based on a preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and other information currently available to the Company, it is expected that the unaudited profit attributable to the equity owners of the Group for the six months ended 30 June 2020 will record an increase by no less than 70% as compared to that for the corresponding period in 2019. Such expected increase was primarily attributable to the following reasons: (1) an increase in gross floor area of properties under management by the Group of approximately 35% as compared with the corresponding period in 2019; (2) the growth in revenue from the provision of property management services and value-added services to non-property owners of approximately 40% and approximately 50% respectively as compared with the corresponding period in 2019; and (3) an increase of approximately one percentage point on the gross profit margin of the Group as compared with the corresponding period in 2019.

As at the date of this announcement, the Company is still in the process of preparing its interim results for the six months ended 30 June 2020. The information contained in this announcement is only based on the information currently available to the Company and the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020. It has not been audited or reviewed by the auditors or approved by the audit committee of the Company, and may be subject to adjustments. The Company will issue an announcement of its interim results for the six months ended 30 June 2020 in due course in compliance with the Listing Rules.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

Times Neighborhood Holdings Limited

Mr. Bai Xihong

Chairman

Hong Kong, 24 July 2020

As at the date of this announcement, the Board comprises Ms. Wang Meng, Mr. Yao Xusheng, Ms. Xie Rao and Ms. Zhou Rui as executive Directors; Mr. Bai Xihong and Mr. Li Qiang as non-executive Directors; Mr. Lui Shing Ming, Brian, Dr. Wong Kong Tin and Dr. Chu Xiaoping as independent non-executive Directors.