Shoucheng : RESIGNATION OF NON-EXECUTIVE DIRECTOR AND CHANGE IN COMPOSITION OF BOARD COMMITTEE

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RESIGNATION OF NON-EXECUTIVE DIRECTOR

AND

CHANGE IN COMPOSITION OF BOARD COMMITTEE

The board (the "Board") of directors (each a "Director" and collectively, the "Directors") of Shoucheng Holdings Limited (the "Company") announces that Dr. Zhao Xianming ("Dr. Zhao") has tendered his resignation as a non-executive Director with effect from 31 December 2021 in order to focus on his other business commitments. Following his resignation as a Director with effect from 31 December 2021, Dr. Zhao also ceased to be a member of the Remuneration Committee of the Board.

Dr. Zhao has confirmed that he has no disagreement with the Board and that there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude to Dr. Zhao for his valuable contributions to the Company during his tenure of service.

By order of the Board

Shoucheng Holdings Limited

Zhao Tianyang

Chairman

Hong Kong, 31 December 2021

As at the date of this announcement, the Board comprises Mr. Zhao Tianyang (Chairman), Mr. Xu Liang, Mr. Li Wei (President) and Ms. Zhang Meng as Executive Directors; Mr. Liu Jingwei, Mr. Ho Gilbert Chi Hang and Mr. Li Hao as Non-executive Directors; Dr. Wang Xin, Mr. Choi Fan Keung Vic, Mr. Deng Yougao, Ms. Zhang Quanling and Ms. Zhuge Wenjing as Independent Non-executive Directors.