• Market OpportunitiesArise for "Eco-friendly and People-oriented Property"
• Rapid Growthin Core Net Profit        
• Make Efforts toDeploy Urban Renewal
• Increase Land Bank to Accelerate Geographic Deployment

HONG KONG, CHINA - Media OutReach - 20 August 2020 - JYGrandmark Holdings Limited ("JY Grandmark" or the "Company", whichtogether with its subsidiaries, is referred to as the "Group", stockcode: 2231), a property developer and operator and property management serviceprovider based in the People's Republic of China (the "PRC"), is pleased toannounce the interim results of the Company for the six months ended 30 June2020 (the "Period").

JY Grandmark positions itself as an"Eco-friendly and People-oriented Property Developer" and acquired landreserves in strategic locations with abundant natural resources, rich cultureand potential for growth. The Group takes into account the natural and culturalresources of its project site in the design of properties to develop homes andcommunities that the Group considers to be truly liveable for buyers. Thisaccurate positioning differentiates the Group from other property developers inthe PRC.

During the Period, the Group's revenue amounted to approximatelyRMB924.7 million (1H2019: RMB762.4 million), representing a period-on-periodincrease of 21.3%. The Group's gross profit amounted to RMB404.5 million (1H2019: RMB 396.4 million), representing a period-on-period growth of 2.0%. Core net profit amounted to RMB193.8million(1H2019: RMB 134.7million), representing anincrease of 43.9%. Profit attributableto owners of the Company amounted to RMB196.9 million（1H2019: RMB 185.0 million）, representing an increase of 6.4 %.

Market OpportunitiesArise for "Eco-friendly and People-oriented Property"

The epidemicoutbreak occurred around the first half of the year has brought a change to thesupply side of the property market. The demand for home purchasing for homeupgrade continues to rise and tends to gradually exceed the rigid demand forhome purchasing. The Group has been focusing on segmented markets and targetingat purchasers looking for a home upgrade and multi-house ownership.

With "Eco-friendlyand People-oriented Property" serving as our product development concept, weattach great importance to the health value that the internal and externalliving environment brings when selecting project sites, which help our productsget increasing popularity in the market, and bring opportunities for the Groupto further deepen the market.

The Group focus on thedevelopment of quality residential properties with comfortable and convenientliving environment. During the Period under Review, revenue from recognisedsales of property development of the Group amounted to RMB 884.7 million,representing an increase of 24.2% from RMB712.5 million for the same period of2019. The increase in revenue recognised was primarily due to an increase in theaggregate gross floor area ("GFA") completed and delivered as a result of theGroup's continuing expansion.

Increase Land Bankto Accelerated Geographic Deployment

During the Period,the Group actively participated in tenders, auctions or listing-for- sale: inMarch 2020, it once again obtained nine land parcels in Tengchong, Yunnanprovince, increasing developing areas by approximately 1.006 million sq.m.Located in the Qushi resort area in Tengchong, Yunnan province, where JY GaoligongTown (景業高黎貢小鎮), a project of the Group for sale, waslocated, those land parcels have iconic landscapes and landforms and will bedeveloped into projects under two different product lines.

As of 30 June 2020, JY Grandmark hadproperty portfolio of a total of 32 property projects in Guangdong、Hainan、Yunnan, and Hunan,with an aggregate GFA of approximately 4,000,000 sq.m. , comprising completedproperties available for sale or lease with an aggregate GFA of 230,000  sq.m , properties underdevelopment with an aggregate GFA of 750,000 sq.m. and properties held forfuture development with an aggregate GFA of 2,940,000 sq.m.. The Group hasmanaged to secure a sufficient supply of land resources for propertydevelopment over the coming three or more years.

In July 2020, the Group formed a joint venture with Jinke Properties (金科地產) with shareholding of 51%: 49% and obtained ahigh-quality land parcel at the top of the metro in Kengbei Village, ZengchengDistrict, Guangzhou (廣州增城區坑貝村地鐵上蓋)with developing areas of approximately 100,000 sq.m. It is a new area under theGroup's deployment in the Guangdong-Hong Kong-Macao Greater Bay Area.

DiversifiedBusiness Strategies to Promote Healthy Development

During the Period,the Group's revenue from property management amounted to RMB7.7million,representing an increase of 37.5% as compared with RMB5.6 million in thecorresponding period of 2019, mainly due to increase in total GFA of theproperties under management.

The Group currently self operates the Just Stay Hotel (廣州卓思道酒店) and Just Stay Resort (從化卓思道溫泉度假酒店). During the Period, revenuefrom hotel operations of the Group amounted to RMB21.4 million, representing aperiod-on-period decline by 41.5% from RMB36.6 million in the correspondingperiod of 2019, which was primarily owe to the impact of the outbreak ofCOVID-19. As the restaurants reopened and travels started to resume, revenuefrom hotel operations has been demonstrating a healthy recovery since thesecond quarter.

Other than holdingproperties for development and sales, the Group also owns commercial propertiesfor leasing purpose. During the Period, revenue from commercial propertyinvestment of the Group amounted to RMB11.0 million, representing an increaseof 42.9% as compared with RMB7.7 million in the corresponding period of 2019.The increase was mainly due to increase in total GFA leased in the first halfof 2020.

SoundFinancial Position Gained Recognition in the Capital Market

With sound operatingdata, the Group gained recognition in the capital market. In March 2020, the7.5% senior notes in the amount of US Dollar ("US$") 150 million issued by theCompany were over-subscribed by institutional and individual investors. In May2020, the Company was included as a constituent of the MSCI China Small Cap Indexby Morgan Stanley Capital International. In July 2020, the Company was on thelist of "Top 20 Guangdong Property Enterprises with High Credit Score(廣東地產資信20強)" organised by theGuangzhou Province branches of the four state-owned banks, being Industrial andCommercial Bank of China, Agricultural Bank of China, Bank of China and ConstructionBank of China. The recognition of the capital market provides stronger supportfor the development of the Group. Leveraging on the sound financialconditions and diversified funding channels, the Group still managed to achieve sustainable and high-quality developmentunder the background of tightening funding in the industry.

Mr. Michael Chan, Chairman and Executive Directorof JY Grandmark said, "In the first half of2020, the national property market was affected by the outbreak of COVID-19,but as the epidemic got under control relatively quickly in Mainland China, theproperty market has shown a significant recovery trend, reflecting that the fundamentalsof property market remain sound. Under such macro background, the Group operatedwell in the first half of the year. The Group actively ensured the quality andquantity of constructions and ensured the punctuality and effectiveness at thenode for projects all over the country. It expanded sales channels and achievedour basic operating indicators. Among the nine property projects for sale,certain have, driven by market and as a result of effective transfer, recordedsubstantial increase in results.

Real estatedevelopment has come to the stock building age, and urban renewal becomes theblue ocean for real estate enterprises to actively deploy, and a core businessgrowth point of the Group. At present, theGroup is actively studying the possibility of a number of urban renewal projects,such as the core areas of Guangzhou and Foshan. The overall planning area isapproximately 4 million sq.m., which is planned to be transferred in the nextthree years and will bring rapid growth to the land reserve and results for theGroup.

Looking into the future, the Group will adhere to the development concept of"Eco-friendly and People-oriented Property Developer", seize the rising demandof customers for improving their living environment and space, and deepen thebuilding of a diversified "Eco-friendly and People-oriented" product line, therebyfurther enhancing our brand's market competitiveness. It is the Group's product strategy to realise both goodreputation and high profits by building quality properties that meet the marketneeds and lead market trends and transferring higher added value into premiumwhile ensuring the cost of projects developed under control."

About JY Grandmark Holdings Limited

JY Grandmark is a property developer, operator andproperty management service provider based in the PRC. It runs four principalbusinesses, namely (i) property development and sales, (ii) hotel operations,(iii) property management and (iv) commercial property investment. The sharesof JY Grandmark have been listed on the Hong Kong Stock Exchange since December2019 and the Group has been included as a constituent of the MSCI China SmallCap Index since May 2020.

JY Grandmark has land resources in Guangdong,Hainan, Yunnan and Hunan provinces for its future development. The Grouppositions itself as an "Eco-friendly and People-oriented Property Developer"and acquired land reserves in strategic locations with abundant naturalresources, rich culture and potential for growth. The Group takes into accountthe natural and cultural resources of its project site in the design ofproperties to develop homes and communities that the Group considers to betruly liveable for buyers. This accurate positioningdifferentiates the Group from other property developers in the PRC.