China Qinfa : RESIGNATION OF EXECUTIVE DIRECTORS

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CHINA QINFA GROUP LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 00866)

RESIGNATION OF EXECUTIVE DIRECTORS

RESIGNATION OF AN EXECUTIVE DIRECTOR

The board of directors (the "Board") of China Qinfa Group Limited (the "Company") announces that Mr. FUNG Wai Shing ("Mr. FUNG") has tendered his resignation as an executive director and any other positions of the Company with effect from 5 March 2021 due to his health issues. Mr. FUNG resigned all positions in the Company and the Company's subsidiaries.

Mr. FUNG confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company.

BOARD APPRECIATION

The Board would like to express its appreciation for Mr. FUNG's contribution to the Company during his tenure of service as an executive director.

By order of the Board

China Qinfa Group Limited

XU Da

Chairman

Guangzhou, 5 March 2021

As at the date of this announcement, the Board comprises Mr. XU Da, Mr. BAI Tao and Ms. WANG Jianfei as the executive directors, and Mr. LAU Sik Yuen, Prof. SHA Zhenquan and Mr. JING Dacheng as the independent non-executive directors.