• Market Opportunities
  Arise for "Eco-friendly and People-oriented Property"
• Rapid Growth
  in Core Net Profit� � � ��
• Make Efforts to
  Deploy Urban Renewal
• Increase Land Bank to Accelerate Geographic Deployment

HONG KONG, CHINA -�Media OutReach�-�20 August 2020 - JY
Grandmark Holdings Limited ("JY Grandmark" or the "Company", which
together with its subsidiaries, is referred to as the "Group", stock
code: 2231), a property developer and operator and property management service
provider based in the People's Republic of China (the "PRC"), is pleased to
announce the interim results of the Company for the six months ended 30 June
2020 (the "Period").

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

�

During the Period, the Group's revenue amounted to approximately
RMB924.7 million (1H2019: RMB762.4 million), representing a period-on-period
increase 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 an
increase of 43.9%. Profit attributable
to owners of the Company amounted to RMB196.9 million?1H2019: RMB 185.0 million?, representing an increase of 6.4 %.

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Market Opportunities
Arise for "Eco-friendly and People-oriented Property"

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

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With "Eco-friendly
and People-oriented Property" serving as our product development concept, we
attach great importance to the health value that the internal and external
living environment brings when selecting project sites, which help our products
get increasing popularity in the market, and bring opportunities for the Group
to further deepen the market.

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The Group focus on the
development of quality residential properties with comfortable and convenient
living environment. During the Period under Review, revenue from recognised
sales 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 of
2019. The increase in revenue recognised was primarily due to an increase in the
aggregate gross floor area ("GFA") completed and delivered as a result of the
Group's continuing expansion.

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Increase Land Bank
to Accelerated Geographic Deployment

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During the Period,
the Group actively participated in tenders, auctions or listing-for- sale: in
March 2020, it once again obtained nine land parcels in Tengchong, Yunnan
province, increasing developing areas by approximately 1.006 million sq.m.
Located in the Qushi resort area in Tengchong, Yunnan province, where JY Gaoligong
Town (???????), a project of the Group for sale, was
located, those land parcels have iconic landscapes and landforms and will be
developed into projects under two different product lines.

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As of 30 June 2020, JY Grandmark had
property 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 completed
properties available for sale or lease with an aggregate GFA of 230,000 �sq.m , properties under
development with an aggregate GFA of 750,000 sq.m. and properties held for
future development with an aggregate GFA of 2,940,000 sq.m.. The Group has
managed to secure a sufficient supply of land resources for property
development over the coming three or more years.

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In July 2020, the Group formed a joint venture with Jinke Properties (????) with shareholding of 51%: 49% and obtained a
high-quality land parcel at the top of the metro in Kengbei Village, Zengcheng
District, Guangzhou (????????????)
with developing areas of approximately 100,000 sq.m. It is a new area under the
Group's deployment in the Guangdong-Hong Kong-Macao Greater Bay Area.

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Diversified
Business Strategies to Promote Healthy Development

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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 the
corresponding period of 2019, mainly due to increase in total GFA of the
properties under management.

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The Group currently self operates the Just Stay Hotel (???????) and Just Stay Resort (???????????). During the Period, revenue
from hotel operations of the Group amounted to RMB21.4 million, representing a
period-on-period decline by 41.5% from RMB36.6 million in the corresponding
period of 2019, which was primarily owe to the impact of the outbreak of
COVID-19. As the restaurants reopened and travels started to resume, revenue
from hotel operations has been demonstrating a healthy recovery since the
second quarter.

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Other than holding
properties for development and sales, the Group also owns commercial properties
for leasing purpose. During the Period, revenue from commercial property
investment of the Group amounted to RMB11.0 million, representing an increase
of 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 half
of 2020.

Sound
Financial Position Gained Recognition in the Capital Market

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With sound operating
data, the Group gained recognition in the capital market. In March 2020, the
7.5% senior notes in the amount of US Dollar ("US$") 150 million issued by the
Company were over-subscribed by institutional and individual investors. In May
2020, the Company was included as a constituent of the MSCI China Small Cap Index
by Morgan Stanley Capital International. In July 2020, the Company was on the
list of "Top 20 Guangdong Property Enterprises with High Credit Score(??????20?)" organised by the
Guangzhou Province branches of the four state-owned banks, being Industrial and
Commercial Bank of China, Agricultural Bank of China, Bank of China and Construction
Bank of China. The recognition of the capital market provides stronger support
for the development of the Group. Leveraging on the sound financial
conditions and diversified funding channels, the Group still managed to achieve sustainable and high-quality development
under the background of tightening funding in the industry.

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Mr. Michael Chan, Chairman and Executive Director
of JY Grandmark said, "In the first half of
2020, the national property market was affected by the outbreak of COVID-19,
but as the epidemic got under control relatively quickly in Mainland China, the
property market has shown a significant recovery trend, reflecting that the fundamentals
of property market remain sound. Under such macro background, the Group operated
well in the first half of the year. The Group actively ensured the quality and
quantity of constructions and ensured the punctuality and effectiveness at the
node for projects all over the country. It expanded sales channels and achieved
our basic operating indicators. Among the nine property projects for sale,
certain have, driven by market and as a result of effective transfer, recorded
substantial increase in results.

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Real estate
development has come to the stock building age, and urban renewal becomes the
blue ocean for real estate enterprises to actively deploy, and a core business
growth point of the Group. At present, the
Group 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 is
approximately 4 million sq.m., which is planned to be transferred in the next
three years and will bring rapid growth to the land reserve and results for the
Group.

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

About JY Grandmark Holdings Limited

JY Grandmark is a property developer, operator and
property management service provider based in the PRC. It runs four principal
businesses, namely (i) property development and sales, (ii) hotel operations,
(iii) property management and (iv) commercial property investment. The shares
of JY Grandmark have been listed on the Hong Kong Stock Exchange since December
2019 and the Group has been included as a constituent of the MSCI China Small
Cap Index since May 2020.

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