Poly Property Development : APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2020

THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

If you are in any doubt as to any aspect of this circular or as to what action to take in relation to this circular, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional public accountant or other professional adviser.

If you have sold or transferred all your shares in Poly Property Services Co., Ltd., you should at once hand this circular, together with the enclosed proxy form, to the purchaser(s) or transferee(s) or to the bank, stockbroker or other agent through whom the sale or transfer was effected for transmission to the purchaser(s) or transferee(s).

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, 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 circular.

POLY PROPERTY SERVICES CO., LTD.

保利物業服務股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 06049)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

AND

NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2020

A notice convening the EGM of Poly Property Services Co., Ltd. to be held at the Conference Room, 2nd Floor, East Tower, Poly Skyline Plaza, No. 832 Yue Jiang Zhong Road, Hai Zhu District, Guangzhou, Guangdong Province, the PRC at 2:30 p.m. on Friday, 9 October 2020 is set out on pages EGM-1 to EGM-2 of this circular. A proxy form for use at the EGM is also enclosed in this circular. Such proxy form is also published on the websites of the Stock Exchange (www.hkexnews.hk) and the Company (www.polywuye.com).

Shareholders who intend to appoint a proxy to attend the EGM shall complete and return the enclosed proxy form in accordance with the instructions printed thereon not less than 24 hours before the time fixed for holding the EGM or any adjournment thereof (as the case may be). Completion and return of the proxy form will not preclude Shareholders from attending and voting in person at the EGM thereof should they so wish.

PRECAUTIONARY MEASURES FOR THE EXTRAORDINARY GENERAL MEETING

To safeguard the health and safety of Shareholders and to prevent and control the spread of COVID-19, the Company will take the following precautionary measures at the EGM:

1. compulsory temperature checks
2. wearing of face masks throughout the EGM (please bring your own mask)
3. no souvenirs will be distributed and no refreshments will be served

To the extent permitted by law, any person who does not comply with the precautionary measures (1) and

1. as set out above may be denied entry into the venue of the EGM at the absolute discretion of the Company. Shareholders may appoint the chairman of the meeting as their proxy to vote on the relevant resolution at the EGM instead of attending the EGM in person.

17 September 2020

CONTENTS

		Pages
PRECAUTIONARY MEASURES FOR THE EXTRAORDINARY
GENERAL MEETING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	1
DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	3
LETTER FROM THE BOARD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5
1.	INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5
2.	ORDINARY RESOLUTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5
3.	EGM AND PROXY ARRANGEMENT . . . . . . . . . . . . . . . . . . . . .	6
4.	VOTING BY POLL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	7
5.	RECOMMENDATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	7
6.	FURTHER INFORMATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	7
NOTICE OF THE FIRST EXTRAORDINARY
GENERAL MEETING OF 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	EGM-1

- i -

PRECAUTIONARY MEASURES FOR THE EXTRAORDINARY GENERAL MEETING

Having considered the influence of COVID-19 epidemic and the guidelines and requirements for the control of its spread, the following precautionary measures will be taken at the EGM by the Company to ensure the safety of Shareholders and other attendees:

1. compulsory body temperature checks will be conducted on every attendee at the entrance of the venue of the EGM. Any person with a body temperature of over 37.3 degrees Celsius will be denied entry into the venue of the EGM.
2. all attendees shall bring and wear their own face masks inside the venue of the EGM at all times, and to maintain an appropriate distance between seats.
3. no souvenirs will be distributed and no refreshments will be served at the EGM.

To the extent permitted by law, any person who does not comply with the precautionary measures (i) to (ii) as set out above may be denied entry into the venue of the EGM at the absolute discretion of the Company in order to ensure the safety of the attendees at the EGM.

In the interest of all stakeholders' health and safety, the Company reminds all Shareholders that physical attendance at the EGM is not necessary for the purpose of exercising voting rights. Shareholders, particularly those who are subject to quarantine, are recommended to use a form of proxy with voting instructions inserted to appoint the chairman of the EGM as their proxy to vote on the relevant resolution at the EGM instead of attending the EGM in person.

The form of proxy is attached to this circular for Shareholders who opt to receive physical circulars. Alternatively, the form of proxy can be downloaded from the website of the Stock Exchange (www.hkexnews.hk) and the "Investor Relations - Announcements and Notices" section of the website of the Company (www.polywuye.com). If you are not a registered Shareholder (if your Shares are held via banks, brokers, custodians or the Hong Kong Securities Clearing Company Limited), you should consult directly with your banks or brokers or custodians (as the case may be) to assist you with the appointment of proxy.

- 1 -

PRECAUTIONARY MEASURES FOR THE EXTRAORDINARY GENERAL MEETING

Shareholders are recommended by the Company that physical attendance at the EGM is not necessary. If Shareholders have any questions about the relevant resolution, or about the Company or any matters for communication with the Board, they are welcome to contact the Company as follows:

Tel: [phone]

Email: [e-mail]

If Shareholders have any questions relating to the EGM, please contact Tricor Investor Services Limited, the share registrar, as follows:

Tricor Investor Services Limited

Level 54, Hopewell Centre

183 Queen's Road East

Hong Kong

E-mail:[e-mail]

Tel: [phone]

Fax: [phone]

- 2 -

DEFINITIONS

In this circular, unless the context otherwise requires, the following expressions shall have the following meanings:

"Articles of Association"	the articles of association of the Company currently in
	force
"Board"	the board of Directors
"China" or the "PRC"	the People's Republic of China, but for the purpose of
	this circular and for geographical reference only and
	except where the context requires, references in this
	circular to "China" and the "PRC" do not include
	Hong Kong, the Macau Special Administrative Region
	of the PRC and Taiwan
"Company"	Poly Property Services Co., Ltd., a joint stock
	company incorporated in the PRC with limited
	liability, the H Shares of which are listed on the Main
	Board of the Stock Exchange
"Director(s)"	the director(s) of the Company
"Domestic Share(s)"	ordinary shares in the share capital of the Company,
	with a nominal value of RMB1.00 each, which are
	subscribed for and paid up in Renminbi
"Domestic Shareholders"	holders of Domestic Shares
"EGM" or "Extraordinary	the first extraordinary general meeting of 2020 of the
General Meeting"	Company to be held at the Conference Room, 2nd
	Floor, East Tower, Poly Skyline Plaza, No. 832 Yue
	Jiang Zhong Road, Hai Zhu District, Guangzhou,
	Guangdong Province, the PRC at 2:30 p.m. on Friday,
	9 October 2020
"Group" or "the Group"	the Company and its subsidiaries
"H Share(s)"	overseas listed foreign shares in the ordinary share
	capital of the Company with a nominal value of
	RMB1.00 each, which are subscribed for and traded in
	Hong Kong dollars and listed on the Main Board of
	the Stock Exchange
"H Shareholders"	holders of H Shares

- 3 -

	DEFINITIONS
"Hong Kong"	the Hong Kong Special Administrative Region of the
	PRC
"Hong Kong dollars"	Hong Kong dollars, the lawful currency of Hong
	Kong
"Latest Practicable Date"	14 September 2020, being the latest practicable date
	prior to the printing of this circular for ascertaining
	certain information in this circular
"Listing Rules"	the Rules Governing the Listing of Securities on the
	Stock Exchange
"Mr. Liu"	Mr. Liu Ping
"Poly Developments and	Poly Developments and Holdings Group Co., Ltd.*
Holdings"	(保利發展控股集團股份有限公司), a joint stock
	company incorporated in the PRC with limited
	liability, whose shares are listed on the main board of
	the Shanghai Stock Exchange (Stock Code: 600048).
	Poly Developments and Holdings is a controlling
	shareholder of the Company
"RMB" or "Renminbi"	Renminbi, the lawful currency of the PRC
"SFO"	the Securities and Futures Ordinance, Chapter 571 of
	the Laws of Hong Kong, as amended from time to
	time
"Share(s)"	ordinary shares in the share capital of the Company,
	with a nominal value of RMB1.00 each, comprising
	Domestic Shares and H Shares
"Shareholder(s)"	holder(s) of Share(s)
"Stock Exchange"	The Stock Exchange of Hong Kong Limited

In this circular, the terms "controlling shareholder" and "substantial shareholder" have the meanings given to such terms in the Listing Rules, unless the context otherwise requires.

The English names of Chinese entities included in this circular are unofficial translations of their Chinese names and are included for identification purposes only.

- 4 -

LETTER FROM THE BOARD

POLY PROPERTY SERVICES CO., LTD.

保利物業服務股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 06049)

Non-executive Directors:	Registered office and principal place
Mr. Huang Hai (Chairman)	of business in the PRC:
Mr. Hu Zaixin	Rooms 201-208
	No. 688 Yue Jiang Zhong Road
Executive Director:	Hai Zhu District
Ms. Wu Lanyu	Guangzhou
	Guangdong Province, the PRC
Independent Non-executive Directors:
Mr. Wang Xiaojun	Principal place of business in Hong Kong:
Ms. Tan Yan	40/F, Sunlight Tower
Mr. Wang Peng	248 Queen's Road East
	Wanchai, Hong Kong
	17 September 2020
To the Shareholders
Dear Sir/Madam,

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

AND

NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2020

1. INTRODUCTION

The purpose of this circular is to provide you with the notice of the EGM and the information reasonably necessary to enable you to make an informed decision on whether to vote for or against the proposed resolution at the EGM.

2. ORDINARY RESOLUTION

Appointment of non-executive Director

Reference is made to the announcement of the Company dated 27 August 2020 in relation to, among others, the proposed appointment of Mr. Liu Ping ("Mr. Liu") as a non-executive Director of the Company.

The Company will propose an ordinary resolution at the EGM for Shareholders' consideration and approval of the appointment of Mr. Liu as a non-executive Director.

- 5 -

LETTER FROM THE BOARD

The biography of Mr. Liu is as follows:

Mr. Liu, aged 52, has successively served as the section chief of the branch of the Guangdong Audit Office (廣東省審計廳), the manager of the planning and audit department, the director of the general manager 's office, the assistant to the general manager, the secretary of the board of directors, and the deputy general manager of Poly Developments and Holdings since 1989. He is currently a director and the general manager of Poly Developments and Holdings. Mr. Liu obtained a bachelor 's degree in economics from Sun Yat-sen University in June 1989, and qualified as a senior auditor in November 1995.

Upon due appointment as a non-executive Director of the Company, the Company will enter into a service contract with Mr. Liu, whose term of office will commence on the date on which the approval from the Company's EGM is obtained and end on the date on which the term of office of the current session of the Board expires. Mr. Liu will not receive any Director 's fee from the Company.

As at the Latest Practicable Date, Mr. Liu is beneficially interested in 7,259,471 shares of Poly Developments and Holdings within the meaning of Part XV of the SFO and holds share options granted by Poly Developments and Holdings to subscribe for 187,713 shares of Poly Developments and Holdings at an exercise price of RMB6.69 per share.

Save as disclosed above, as at the Latest Practicable Date, Mr. Liu has confirmed that, (i) he does not hold any other position in the Group; (ii) he has not held any directorship in any other companies listed on any securities market in Hong Kong or overseas in the last three years and does not have any other major appointments and qualifications; (iii) he does not have any relationships with any Directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company; (iv) he does not have any interests in the shares of the Company and its associated corporations within the meaning of Part XV of the SFO.

Save as mentioned above, the Board is not aware of any other information in relation to the proposed appointment of Mr. Liu as a non-executive Director of the Company that is required to be disclosed pursuant to the requirements of Rule 13.51(2) of the Listing Rules and there are no other matters that need to be brought to the attention of the Shareholders.

3. EGM AND PROXY ARRANGEMENT

The proxy form of the EGM is enclosed herewith.

- 6 -

LETTER FROM THE BOARD

If you intend to appoint a proxy to attend the EGM, you are required to complete and return the accompanying proxy form in accordance with the instructions printed thereon. H Shareholders are required to return the proxy form to the Company's H Share registrar, Tricor Investor Services Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong and Domestic Shareholders are required to return the proxy form to the Company's principal place of business in the PRC at Rooms 201-208, No. 688 Yue Jiang Zhong Road, Hai Zhu District, Guangzhou, Guangdong Province, the PRC by personal delivery or by post not less than 24 hours before the time fixed for holding the EGM or any adjourned meeting thereof. Completion and return of the proxy form will not preclude you from attending and voting in person at the EGM or at any adjourned meeting should you so wish.

The register of members of the Company will be closed from Tuesday, 6 October 2020 to Friday, 9 October 2020, both days inclusive, during which period no transfer of the Shares will be registered. In order for the H Shareholders to qualify for attending and voting at the EGM, all properly completed share transfer forms together with the relevant H Share certificates shall be lodged with the Company's H Share registrar, Tricor Investor Services Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong for registration not later than 4:30 p.m. on Monday, 5 October 2020.

4. VOTING BY POLL

According to Rule 13.39(4) of the Listing Rules, any vote of Shareholders at an extraordinary general meeting must be taken by poll. Accordingly, the chairman of the EGM will exercise his power under the Articles of Association to demand a poll in relation to the proposed resolution at the EGM and the Company will announce the results of the poll in the manner prescribed under Rule 13.39(5) of the Listing Rules.

5. RECOMMENDATION

The Board considers that the resolution in relation to the appointment of non-executive Director to be proposed at the EGM is in the best interests of the Company and the Shareholders as a whole. Accordingly, the Board recommends the Shareholders to vote in favour of the proposed resolution at the EGM.

6. FURTHER INFORMATION

Your attention is drawn to other parts of this circular, which contain further information on the Group and other information required to be disclosed under the Listing Rules.

Yours faithfully,

By order of the Board

POLY PROPERTY SERVICES CO., LTD.

Huang Hai

Chairman of the Board and non-executive Director

- 7 -

NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2020

POLY PROPERTY SERVICES CO., LTD.

保利物業服務股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 06049)

NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2020

NOTICE IS HEREBY GIVEN THAT the first extraordinary general meeting of 2020 (the "EGM") of Poly Property Services Co., Ltd. (the "Company") will be held at the Conference Room, 2nd Floor, East Tower, Poly Skyline Plaza, No. 832 Yue Jiang Zhong Road, Hai Zhu District, Guangzhou, Guangdong Province, the PRC at 2:30 p.m. on Friday, 9 October 2020 for the purposes of considering and, if thought fit, approving the following resolution. In this notice, unless the context otherwise requires, terms used herein shall have the same meanings as defined in the Company's circular dated 17 September 2020:

ORDINARY RESOLUTION

1. To consider and approve the appointment of Mr. Liu Ping as a non-executive Director of the Company.

By order of the Board

POLY PROPERTY SERVICES CO., LTD.

Huang Hai

Chairman of the Board and non-executive Director

Guangzhou, China, 17 September 2020

As at the date of this notice, the non-executive Directors of the Company are Mr. Huang Hai and Mr. Hu Zaixin; the executive Director is Ms. Wu Lanyu; and the independent non-executive Directors are Mr. Wang Xiaojun, Ms. Tan Yan and Mr. Wang Peng.

- EGM-1 -

NOTICE OF THE FIRST EXTRAORDINARY GENERAL MEETING OF 2020

Notes:

1. All resolutions at the EGM will be taken by poll pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). The results of the poll will be published on the website of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the website of the Company (www.polywuye.com) in accordance with the Listing Rules.
2. All shareholders of the Company are eligible for attending the EGM. Any shareholder of the Company entitled to attend and vote at the EGM convened by the above notice is entitled to appoint a proxy or more than one proxy to attend the EGM and vote instead of him/her. A proxy need not be a shareholder of the Company. If more than one proxy is appointed, the number of shares in respect of which each such proxy so appointed must be specified in the relevant proxy form. Every shareholder of the Company present in person or by proxy shall be entitled to one vote for each share held by him/her.
3. In order to be valid, the proxy form together with the power of attorney or other authority (if any) under which it is signed, or a notarially certified copy thereof, must be completed and returned to (i) the Company's principal place of business in the People's Republic of China (the "PRC") at Rooms 201-208, No. 688 Yue Jiang Zhong Road, Hai Zhu District, Guangzhou, Guangdong Province, the PRC (for Domestic shareholders) or (ii) the Company's H Share registrar, Tricor Investor Services Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong (for H shareholders) not less than 24 hours before the time appointed for the EGM. Completion and return of the proxy form will not preclude a shareholder of the Company from attending and voting at the EGM or any adjourned meeting thereof should he/she so wish.
4. The register of members of the Company will be closed from Tuesday, 6 October 2020 to Friday, 9 October 2020, both days inclusive, during which period no transfer of the shares will be registered. In order for the H shareholders to qualify for attending and voting at the EGM, all properly completed share transfer forms together with the relevant H share certificates shall be lodged with the Company's H Share registrar, Tricor Investor Services Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong for registration not later than 4:30 p.m. on Monday, 5 October 2020.
5. The EGM is expected to take no more than half a day. Shareholders of the Company who attend the EGM (in person or by proxy) shall bear their own travelling and accommodation expenses. Shareholders of the Company may contact the Company via telephone at [phone] and email at [e-mail] for any enquires in respect of the EGM.

- EGM-2 -