RICHLY FIELD CHINA DEVELOPMENT LIMITED

Ms. Wang Yucan has been appointed
as the Joint Chairman of the Board

（28 April 2017, Hong Kong）Richly Field China Development Limited ("Richly Field" or the "Company", stock code: 313.HK) is pleased to announce that, Ms. Wang Yucan has been appointed as the Joint Chairman of the Board of the Company, as well as the executive director of the Company, chief executive officer of the Company, member of the Remuneration Committee, chairman of the Nomination Committee and authorised representative of the Company under the Listing Rule with effect from 27 April 2017. Mr. Ma Jun has been appointed as the Joint Chairman of the Board at the same time.

Ms. Wang is the daughter of Mr. Wang Hua, a controlling shareholder of Richly Field. Since January 2016, Ms. Wang has been serving as a director of Jeshing Group Co. Ltd. ("Jeshing Group"), president of the new industry, culture and tourism business department of Jeshing Group and chairman of the board of directors of Latitude Investment Management Consultancy (Shanghai) Co., Ltd.. During the period from January 2014 to January 2016, Ms. Wang acted as the director of the brand and information management center of Jeshing Group. Ms. Wang is very well-educated that she obtained her doctoral degree majoring in operation and information management from Aston Business School in 2014. Her knowledge background is mainly related to organization management, reform management, information management, sales management, customer relationship management (CRM), Business Intelligence (BI) system, management information system(MIS) and Big Data. Moreover, Ms. Wang is the member of Euroma and OR (Operation Research) Society. She has published dissertation on management on several renowned academic journals.

Ms. Wang is young and well educated. Her enthusiasm and talents is expected to stimulate the development of Richly Field. Upon Ms. Wang's joining to Richly Field, it is believed that her professional knowledge, social capital and experience could bring more merchandising resources, operation and management experience to Richly Field, which accelerates the development of the Company's projects. It is also expected that financing of Richly Field could hence be strongly supported for the sustainable business development.

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About Richly Field China Development Limited
Richly Field China Development Limited (stock code: 313.HK) is principally engaged in property development, property management, building construction and maintenance and trading of fashion wears and accessories. With Asset-light strategy, Richly Field develops featured commercial property, including Globe Factory Outlet Center with low densed high-quality residential property, tourism property, senior care property and wine chateaus. The Group has strategically locate its business in regions with high economic growth potential. The 4 projects under operation or planning are located in 7 national urban agglomeration (Changsha projects at Yangtze River Mid-Reaches; Qinhuangdao project and Huailai project at Jingjinji; Changchuan project at Harbin-Changchun metropolitan area). The Group's controlling shareholder, Mr. Wang Hua is the Founder and Chairman of Board of Directors of Jeshing Group, a well-established commercial property developer in the PRC.