Sundy Service : RESIGNATION OF EXECUTIVE DIRECTOR AND APPOINTMENT OF EXECUTIVE DIRECTOR AND EXECUTIVE OFFICER

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Sundy Service Group Co. Ltd 宋都服務集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9608)

RESIGNATION OF EXECUTIVE DIRECTOR

AND

APPOINTMENT OF EXECUTIVE DIRECTOR AND EXECUTIVE OFFICER

The Board announces that, with effect from 1 March 2021:

• 1. Mr. Shen Guangming (ӏΈ׼) has resigned as the executive Director of the Company; and

• 2. Mr. Zhu Yihua (ϡ඀ዏ) has been appointed as the executive Director and executive officer (ੂБᐼ൒) of the Company.

RESIGNATION OF AN EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of Sundy Service Group Co. Ltd (the "Company", together with its subsidiaries, the "Group") announces that Mr. Shen Guangming ("Mr. Shen") has tendered his resignation as an executive Director due to his other business commitments. Mr. Shen's resignation takes effect on 1 March 2021. After resignation, Mr. Shen no longer holds any position in the Group.

Mr. Shen has confirmed that he has no disagreement with the Board and there is no other matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company (the "Shareholders") or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board would like to take this opportunity to express its gratitude to Mr. Shen for his valuable contributions to the Company during his term of office.

APPOINTMENT OF AN EXECUTIVE DIRECTOR AND EXECUTIVE OFFICER (ੂБ ᐼ൒)

The Board is pleased to announce that, Mr. Zhu Yihua ("Mr. Zhu") has been appointed as an executive Director and executive officer (ੂБᐼ൒) of the Company, with effect from 1 March 2021.

Set out below is the biographical details of Mr. Zhu.

Mr. Zhu, aged 38, has over 15 years of experience in the real estate industry. He joined Hangzhou Sundy Real Estate Group Co., Ltd.* (؄ψ҂ேגήପණྠϞࠢʮ̡) ("Sundy Real Estate"), a subsidiary of Sundy Land Investment Co., Ltd.* (҂ேਿุҳ༟ٰ΅Ϟࠢʮ̡), a company listed on the Shanghai Stock Exchange (Stock Code 600077) ("Sundy Land"), since August 2005, served as an assistant to the manager of the prophase operation department and the deputy manager of the operation management department, responsible for the prophase operation of real estate projects. From May 2012 to February 2021, he worked as a manager of projects integrated management department, marketing director, deputy project general manager and deputy district general manager in Sundy Real Estate, where he gained valuable experience in real estate project development and management. Since April 2016, Mr. Zhu served as the board of supervisors of Sundy Land, and was appointed as the chairman of the board of supervisors of Sundy Land in May 2018, responsible for the functioning of the board of supervisors, and resigned in February 2021.

Mr. Zhu graduated from City College of Zhejiang University (एϪɽኪ̹۬ኪ৫), majoring in Computer Science and Technology in June 2005 and obtained a bachelor's degree in Engineering from Zhejiang University. He obtained a master's degree in architecture and civil engineering from Xi'an University of Architecture and Technology (Гτܔጘ߅Ҧɽኪin January 2016.

Mr. Zhu entered into a letter of appointment with the Company for a term of three years commencing on 1 March 2021, subject to termination by either party giving three months' written notice and retirement by rotation and re-election at the annual general meetings of the Company in accordance with the articles of association of the Company. Mr. Zhu shall be entitled to an annual director's fee of RMB1,000,000.

The remuneration of Mr. Zhu was determined by the remuneration committee of the Company and approved by the Board with reference to his position, time commitment, responsibilities, the remuneration policy of the Company as well as prevailing market situation.

Save as disclosed above, as at the date of this announcement:

• (i) Mr. Zhu did not hold any directorship in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years;

• (ii) Mr. Zhu did not have, or was not deemed to have, any interest in the shares of the Company (within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong));

(iii) Saved as disclosed in the above, Mr. Zhu does not hold any other position in the Company or its subsidiaries;

(iv) Mr. Zhu does not have any relationship with any other Directors, senior management, substantial shareholders or controlling shareholders; and

(v) There was no other information relating to Mr. Zhu that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange or any matters that need to be brought to the attention of the Shareholders.

The Board would like to take this opportunity to welcome Mr. Zhu in joining the Company.

By order of the Board Sundy Service Group Co. Ltd

Yu Yun

Chairman

Hong Kong, 1 March 2021

As at the date of this announcement, the Board comprises four executive Directors, Ms. Yu Yun (Chairman), Ms. Zhu Jin (Chief Executive Officer), Mr. Zhu Yihua and Mr. Cheng Huayong; and three independent non-executive Directors, Mr. Zhang Jingzhong, Mr. Xu Rongnian and Mr. Lau Kwok Fai Patrick.

* For identification purpose only