Xingye Wulian Service : CONTINUING CONNECTED TRANSACTIONS SUPPLEMENTAL AGREEMENTS TO THE MASTER PROPERTY MANAGEMENT FRAMEWORK AGREEMENTS AND REVISION OF ANNUAL CAPS DELAY IN DESPATCH OF CIRCULAR

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.

Xingye Wulian Service Group Co. Ltd.

興 業 物 聯 服 務 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 9916)

CONTINUING CONNECTED TRANSACTIONS

SUPPLEMENTAL AGREEMENTS TO THE MASTER PROPERTY

MANAGEMENT FRAMEWORK AGREEMENTS

AND

REVISION OF ANNUAL CAPS

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of Xingye Wulian Service Group Co. Ltd (the "Company") dated 28 August 2020 in relation to, among other things, the Supplemental Agreements, the Transactions and the Revised Annual Caps (the "Announcement"). Unless the context otherwise requires, terms used herein shall have the same meanings as those defined in the Announcement.

As disclosed in the Announcement, a circular (the "Circular") containing, among other things,

1. further information about the Supplemental Agreements, the Transactions and the Revised Annual Caps; (b) a letter of advice from VBG Capital to the Independent Board Committee and the Independent Shareholders in relation to the Supplemental Agreements, the Transactions and the Revised Annual Caps; (c) a letter of recommendation from the Independent Board Committee in relation to the Supplemental Agreements, the Transactions and the Revised Annual Caps; and (d) a notice of the EGM, will be despatched to the Shareholders on or before 18 September 2020.

As additional time is required for the preparation and finalisation of certain information for inclusion in the Circular, it is expected that the despatch date of the Circular will be postponed to a date on or before 12 October 2020.

By Order of the Board

Xingye Wulian Service Group Co. Ltd.

Zhu Jie

Chairman and Chief Executive Officer

Hong Kong, 17 September 2020

As at the date of this announcement, the Board comprises Mr. Zhu Jie as the executive Director; Ms. Zhang Huiqi, Mr. Wang Jinhu and Mr. Liu Zhenqiang as non-executive Directors and Mr. Xu Chun, Mr. Feng Zhidong and Mr. Zhou Sheng as independent non-executive Directors.