Zhaobangji Properties : FURTHER DELAY IN DESPATCH OF CIRCULAR IN RELATION TO CONTINUING CONNECTED TRANSACTIONS IN RELATION TO THE RENEWAL OF THE PROPERTY MANAGEMENT FRAMEWORK AGREEMENT

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.

Zhaobangji Properties Holdings Limited

ΊԞਿήପછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1660)

FURTHER DELAY IN DESPATCH OF CIRCULAR IN RELATION TO

CONTINUING CONNECTED TRANSACTIONS

IN RELATION TO THE RENEWAL OF

THE PROPERTY MANAGEMENT FRAMEWORK AGREEMENT

References are made to (i) the announcement of Zhaobangji Properties Holdings Limited (the "Company") dated 14 January 2021 in relation to, among other things, the Renewed Property Management Framework Agreement and the continuing connected transactions contemplated thereunder (including the PMF Annual Caps); and (ii) the announcement of the Company dated 4 February 2021, in relation to the delay in despatch of the circular (the "Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless the context requires otherwise.

As disclosed in the announcement of the Company dated 4 February 2021, a circular including, amongst other information, (i) further details of the transactions contemplated under the Renewed Property Management Framework Agreement (including the PMF Annual Caps); (ii) the letter from the Independent Board Committee containing its advice to the Independent Shareholders; (iii) the letter from the IFA containing its advice to the Independent Board Committee and the Independent Shareholders; and (iv) the notice convening the EGM and the relevant proxy form, will be despatched to the Shareholders on or before 25 February 2021.

As additional time is required for the Company to finalise certain information for inclusion in the circular, the date of despatch of the circular is expected to be postponed to a date on or before 11 March 2021.

By order of the Board

Zhaobangji Properties Holdings Limited

Xu Chujia

Chairman and Executive Director

Hong Kong, 25 February 2021

As at the date of this announcement, the Board comprises six executive Directors, namely, Mr. Xu Chujia, Mr. Cai Chun Fai, Mr. Li Yan Sang, Mr. Sze-to Kin Keung, Mr. Wu Hanyu and Mr. Zhao Yiyong; two non-executive Directors, namely, Ms. Zhan Meiqing and Professor Lee

Chack Fan, G.B.S., S.B.S., J.P.; and four independent non-executive Directors, namely, Mr. Hui Chin Tong Godfrey, Mr. Ma Fung Kwok, S.B.S., J.P., Mr. Wong Chun Man and Mr. Ye Longfei.