Poly Property : ANNOUNCEMENT MADE PURSUANT TO RULE 13.18 OF THE LISTING RULES

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 Hong Kong with limited liability)

(Stock Code: 00119)

ANNOUNCEMENT MADE PURSUANT TO

RULE 13.18 OF THE LISTING RULES

This announcement is made pursuant to Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors (the "Board") of Poly Property Group Co., Limited (the "Company") announces that on 7 April 2021, the Company (as borrower) entered into a facility agreement (the "Facility Agreement") with (1) Bank of Communications Co., Ltd. Hong Kong Branch, China CITIC Bank International Limited, China Everbright Bank Co. Ltd., Hong Kong Branch, Agricultural Bank of China Limited Hong Kong Branch, Chong Hing Bank Limited, CMB Wing Lung Bank Limited, Industrial and Commercial Bank of China (Asia) Limited, Shanghai Pudong Development Bank Co., Ltd., acting through its Hong Kong Branch and Malayan Banking Berhad (as mandated lead arrangers, bookrunners and lenders); and (2) China CITIC Bank International Limited as facility agent (the "Facility Agent") for a term loan facility in an aggregate amount of HK$3,900,000,000 (the "Facility"). The final maturity date of the Facility shall be the date falling 36 months after the first utilisation date of the loan under the Facility.

Pursuant to the Facility Agreement, it shall be an event of default if, among other things, China Poly Group Corporation Limited ("China Poly", the controlling shareholder of the Company) ceases to:

1. (together with its controlled corporations) be the single largest shareholder of the Company, or directly or indirectly through its controlled corporations, to hold at least 40% (calculated and determined in accordance with Part XV of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong) of the issued share capital of the Company; or (b) maintain management control of the Company; or (c) be under the control and supervision of the State-owned Assets
   Supervision and Administration Commission of the State Council of the People's Republic of China.

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If an event of default under the Facility Agreement occurs, the Facility Agent may declare that all or part of the loans under the Facility, together with accrued interest, and all other amounts accrued or outstanding under the Facility be immediately due and payable, whereupon they shall become immediately due and payable. As at the date of this announcement, China Poly and its subsidiaries hold approximately 47.32 % of the total issued ordinary share capital of the Company.

The Company will make continuing disclosure in its subsequent interim and annual reports pursuant to the requirements of Rule 13.21 of the Listing Rules so long as the abovementioned obligations continue to exist.

By order of the Board

Poly Property Group Co., Limited

ZHANG Bingnan

Chairman

Hong Kong, 7 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Zhang Bingnan, Mr. Xue Ming, Mr. Wang Jian, Mr. Ye Liwen and Mr. Zhu Weirong, and the independent non-executive directors of the Company are Mr. Ip Chun Chung, Robert, Mr. Choy Shu Kwan, Miss Leung Sau Fan, Sylvia and Mr. Wong Ka Lun.

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