Poly Property Development : CHANGE OF COMPANY NAME AND STOCK SHORT NAME

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.

POLY PROPERTY SERVICES CO., LTD.

保 利 物 業 服 務 股 份 有 限 公 司

(Formerly known as "POLY PROPERTY DEVELOPMENT CO., LTD. 保利物業發展股份有限公司")

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

(Stock Code: 06049)

CHANGE OF COMPANY NAME AND STOCK SHORT NAME

Reference is made to the circular and announcement dated 22 May 2020 and the announcement on poll results of the 2019 Annual General Meeting dated 23 June 2020 (the "Circular and Announcements") of Poly Property Services Co., Ltd. (formerly known as Poly Property Development Co., Ltd.) (the "Company") in relation to, among others, the change of company name. Unless the context otherwise requires, terms used herein shall have the same meanings as defined in the Circular and Announcements.

CHANGE OF COMPANY NAME

The Board is pleased to announce that the change of the Company's Chinese full name from "保 利物業發展股份有限公司" to "保利物業服務股份有限公司" and its English full name from "POLY PROPERTY DEVELOPMENT CO., LTD." to "POLY PROPERTY SERVICES CO., LTD." has taken effect.

After the special resolution regarding the change of company name was passed by the shareholders of the Company at the 2019 Annual General Meeting, the Administration for Market Regulation of Guangzhou Municipality issued the business licence in relation to the changed company name on 30 June 2020, and the change of company name took effect on 30 June 2020 accordingly. The Companies Registry of Hong Kong issued the Certificate of Registration of Alteration of Name of Registered Non-Hong Kong Company on 16 July 2020. The Company has performed the necessary registration and filing procedures in Hong Kong in accordance with Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong).

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CHANGE OF STOCK SHORT NAME

The English stock short name for trading in the Shares on the Stock Exchange will be changed from "POLY PPT DEV" to "POLY PPT SER" with effect from 9: 00 a.m. on 30 July 2020, while the Chinese stock short name "保利物業" and stock code "06049" will remain unchanged.

EFFECT OF THE CHANGE OF COMPANY NAME

The change of company name will not affect any rights of the holders of securities of the Company as well as the daily business operations and financial conditions of the Company. All existing certificates of securities in issue bearing the former name of the Company, i.e. "POLY PROPERTY DEVELOPMENT CO., LTD. 保利物業發展股份有限公司", shall, upon the change of name becoming effective, continue to be evidence of title to such securities and will continue to be valid for trading, settlement, registration and delivery purposes. There will not be any arrangement for the exchange of the existing certificates of securities for new certificates of securities bearing the new name of the Company. The Company will issue new certificates of securities under the new name of the Company from 30 July 2020.

By order of the Board

POLY PROPERTY SERVICES CO., LTD.

Huang Hai

Chairman of the Board and non-executive Director

Guangzhou, PRC, 23 July 2020

As at the date of this announcement, the non-executive directors of the Company are Mr. Huang Hai and Mr. Hu Zaixin; the executive directors of the Company are Mr. Li Jiahe and Ms. Wu Lanyu; and the independent non-executive directors of the Company are Mr. Wang Xiaojun, Ms. Tan Yan and Mr. Wang Peng.

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