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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 519)

RESIGNATION OF EXECUTIVE DIRECTOR AND

CHIEF EXECUTIVE OFFICER

The board of directors (the "Board") of Applied Development Holdings Limited (the "Company") announces that Mr. Yuen Chi Ping ("Mr. Yuen") has resigned as an Executive Director and Chief Executive Officer ("CEO") of the Company with effect from 19 August 2020 for devoting more time to his other business commitments.

Mr. Yuen confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

By Order of the Board

Applied Development Holdings Limited

Wu Zhanming

Chairman, Acting CEO and Executive Director

Hong Kong, 19 August 2020

As at the date of this announcement, the Executive Director is Mr. Wu Zhanming (Chairman and Acting CEO); the Non-executive Directors are Mr. Wu Tao and Mr. Yao Wei Rong and the Independent Non-executive Directors are Mr. Lau Chi Keung, Mr. Yu Tat Chi, Michael and Mr. Chiu Kit Man, Calvin.

In the event of inconsistency, the English text of this announcement shall prevail over the Chinese text thereof.

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Applied Development Holdings Limited published this content on 19 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2020 11:46:07 UTC