Times China inaugurates new office in Hong Kong as it scales new heights

HONG KONG,April 25,2020 -- Times China Holdings Limited has seen its sales increase sevenfold since its listing on the Stock Exchange of Hong Kong at the end of 2013 to tap the international capital market. Its business performance has been constantly hitting new highs. To match the needs of its rapid business expansion,on April 23,Times China officially opened its new Hong Kong office whose size is double that of the previous one.

Presiding at the grand opening of Times China's new Hong Kong office are Ms. Kathy Li,Founder of Times Foundation and the controlling shareholder of Times China,Mr. William Wong,Times China's Chief Financial Officer and General Manager of the Hong Kong Office and Mr. Manning Huang,Times Neighborhood's Chief Financial Officer. A number of well-known companies which are Times China's business partners,namely Bank of China (Hong Kong),The Hongkong and Shanghai Banking Corporation,Hang Seng Bank and the Bank of East Asia,have sent floral baskets to the new office to celebrate the occasion.

At the opening ceremony,Ms. Kathy Li said,"Hong Kong office acts as a gateway to Hong Kong for Time China. Thanks to relentless efforts of Hong Kong office,Times China has gained increasing recognition in the international capital market. With the joint efforts of our fellow colleagues in the Group,Times China's earnings performance repeatedly hit new highs. May Times China work its way up to become one of the Fortune 500 companies in the near future."

Mr. William Wong said,"We are grateful for all the blessings from our business partners,and we would like to express our sincere gratitude to all Hong Kong office staff members for their hard work and dedication to the Company's core values of "Love,Commitment and Creation". 2020 is a remarkable year. I hope all fellow colleagues can work in unison to take the business performance of Times China to new heights and propel the Company to become one of the Fortune 500 companies soon."

The company has not been able to invite representatives from its business partners and other parties to attend the event as guests of honourbecause it would like to protect them and its staff against the novel coronavirus pneumonia pandemic that is raging worldwide. Times China's management team would like to express its gratitude to the business partners for their understanding and congratulations. It wishes to meet with them after the epidemic ends.

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About Times China Holdings Limited

Times China Holdings Limited is one of the leading property developers in China,focusing on the development of residential properties targeting at first-time purchase and first-time home-improvement demand. The Group's shares have been listed on the Main Board of The Stock Exchange of Hong Kong since 11 December 2013. Times China positions itself as a "life stylist",with a vision of introducing modern and artistic lifestyles to increasingly affluent middle- to high-income households with relatively high disposable income and strong purchasing power. As at December 31 2019,the Group had a total of 127 major projects in various stages of development in major cities of Guangdong Province,namely Guangzhou,Foshan,Jiangmen,Dongguan,Huizhou,Zhuhai,Zhongshan,Qingyuan,Zhaoqing,Shantou,Shanwei and Heyuan,as well as in Changsha,Hunan Province,Chengdu,Sichuan Province and Hangzhou,Zhejiang Province. Regarding urban redevelopment business,the group has over 120 urban redevelopment projects in aggregate,with a potential total GFA of approximately 43 million sq.m.