• The Acquisition Fulfills Aoyuan Healthy's Deployment
  of Resources for Developing its Medical Beauty Business and Furthers the Development
  of its General Health and Wellness Business
• The Move also Enhances Synergy Between its Businesses
  of Property Management, Commercial Property Operation and General Health and Wellness
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HONG KONG, CHINA -�Media OutReach�- 21 September 2020 -�Aoyuan Healthy Life Group Company Limited ("Aoyuan Healthy" or the "Group"; SEHK stock code: 3662), a reputable provider
of property management service and commercial property operation service in the People's Republic of China ("PRC"), is
pleased to announce that the Group's indirect wholly-owned subsidiary,
Guangdong Xinyuerong Industrial Investment Company Limited, has agreed to
acquire a 55% equity interest in Zhejiang Liantianmei Corporate Management
Company Limited ("Liantianmei") for a consideration of RMB 691.0 million. Aoyuan
Healthy has been holding a 5% equity interest indirectly in Liantianmei. After
the acquisition is completed, the Group's holding in Liantianmei will increase
to 60%. The Group plans to position Liantianmei as a leading medical aesthetic company.
The move serves to fulfill Aoyuan Healthy's deployment of resources for the
development of its medical beauty business, which will enable the Group to provide
healthy lifestyle services for the homeowners at the estates managed by the
Group and consumers alike. The acquisition will also allow the Group to give its businesses of property
management and commercial property operation full play and enhance the synergy
between Aoyuan Healthy's three core businesses.

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Liantianmei is a leading medical aesthetic service
group in Zhejiang province with a history of 37 years. As one of the pioneers in
China's medical aesthetic industry, Liantianmei has
been providing comprehensive medical aesthetic services, including aesthetic surgery
services, minimally-invisive aesthetic services and aesthetic dermatology services.
It currently operates two private medical aesthetic hospitals with an aggregate
operating area of approximately 30,000 square metres. They have qualifications
to operate as formal medical institutions, and have attained both the "5A" Rating
Management standards of management and possess the operational qualifications for
standardized medical institutions, including the Qualification of Level 4 High Complexity
Surgery. They also have a total of 24 registered patents. Liantianmei has won
more than 60 accolades in recognition of its strong technical capabilities, strong
brand, and competitiveness. It also has more than 300,000 customers.

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Despite the epidemic outbreak, Liantianmei
recorded unaudited turnover of RMB 211.7 million and net profit after taxation
of RMB 46.2 million in the first half of 2020. The financial results exceeded
expectations mainly on the back of rent control, employees' resumption of work
in stages, and arrangements on advertising cost, this has reflected the professionalism
and systemic nature of a leading company, the rebounding needs of the existing
customers, and the robust demand in the medical aesthetic industry. �

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The management of Aoyuan Healthy said that Aoyuan
Healthy had been proactively seeking potential acquisition and cooperation
opportunities. The Group has also been deepening and expanding diversified
healthcare services. The acquisition of Liantianmei is part of the Group's move to further develop its medical
beauty business and to broaden and diversify its income stream, which is in
line with Group's development strategies to complement its property management
services and commercial operational services. The Group believes that Liantianmei's
brand reputation and operation results will enhance the synergy between its
three core businesses effectively, thereby fueling the Group's business growth
and strengthening its profitability. Looking ahead, Aoyuan Healthy will continue
to develop its community healthcare and medical beauty services so as to provide
its customers with a healthy living and social environment, and build a comprehensive
healthy life platform. All these are the Group's efforts to build a business that
provides comprehensive healthy lifestyle services, which also serve to complement
the Group's businesses of property management services and commercial property operation.
This can consolidate the Group's leading positions in the respective industries
and enables it to maximize the returns to shareholders. �

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The consideration for the
acquisition will be paid and funded by a combination of the unutilized Net
Proceeds, Group's internal resources and bank borrowings. Meanwhile, in order
to better utilize its financial resources capture favourable investment opportunities,
the Group has decided to reallocate the proceeds from its global offering for
the purposes of its business development -- RMB 132.4 million of the unutilized net proceeds will be used for acquisition
or investment in other commercial operational service and property management service
providers, and 215.0 million of the proceeds for the acquisition or investment in
service providers providing services complementary to the Group's commercial operational
services and property management services. The Group believes that the reallocation
is consistent with its business strategy and will be conducive to its consistent
and rapid development. The move will facilitate the Group's deployment of its
resources for the development of its existing businesses and is in the interest
of the shareholders.

About Aoyuan Healthy Life Group Company Limited

Aoyuan Healthy
Life Group Company Limited is a reputable property management service and
commercial property operation service provider in the PRC offering diverse
property management services for residential and non-residential properties and
a full range of commercial property operation services for shopping malls, with
a focus on mid-range and high-end properties and mixed-use properties. The
Group provides healthcare services in the properties under management, strives
to develop a featured TCM and medical beauty community, and is also actively
expanding its value-added services to enhance customer satisfaction.