<SEC-DOCUMENT>0001104659-21-056024.txt : 20210428
<SEC-HEADER>0001104659-21-056024.hdr.sgml : 20210428
<ACCEPTANCE-DATETIME>20210428083607
ACCESSION NUMBER:		0001104659-21-056024
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210430
FILED AS OF DATE:		20210428
DATE AS OF CHANGE:		20210428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Huazhu Group Ltd
		CENTRAL INDEX KEY:			0001483994
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34656
		FILM NUMBER:		21861532

	BUSINESS ADDRESS:	
		STREET 1:		NO. 699 WUZHONG ROAD
		STREET 2:		MINHANG DISTRICT
		CITY:			SHANGHAI 201103
		STATE:			F4
		ZIP:			-
		BUSINESS PHONE:		(86) 21 6195-2011

	MAIL ADDRESS:	
		STREET 1:		NO. 699 WUZHONG ROAD
		STREET 2:		MINHANG DISTRICT
		CITY:			SHANGHAI 201103
		STATE:			F4
		ZIP:			-

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	China Lodging Group, Ltd
		DATE OF NAME CHANGE:	20100212
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2114421d2_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of April&nbsp;2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-34656</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Huazhu Group Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s name)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>No.&nbsp;699 Wuzhong Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Minhang District</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shanghai
201103<BR>
People&rsquo;s Republic of China<BR>
(86) 21 6195-2011<BR>
</B></FONT>(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F. Form&nbsp;20-F
</FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT> Form&nbsp;40-F <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)&nbsp;(1): </FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)&nbsp;(7): </FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;Number</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Announcement &mdash; Proposed Share Subdivision Proposed Change of Board Lot Size Proposed Adoption of Amended and Restated Memorandum and Articles of Association and Record Date for Annual General Meeting of Shareholders</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 42%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Huazhu Group Limited</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: April 28, 2021</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Qi Ji</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Qi Ji</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Chairman of the Board of Directors, Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2114421d2_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Hong Kong Exchanges and Clearing
Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation
as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance
upon the whole or any part of the contents of this announcement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2114421d2_ex99-1img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>Huazhu Group Limited&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&#33775;&#20303;&#38598;&#22296;&#26377;&#38480;&#20844;&#21496;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">(Incorporated in the Cayman Islands
with limited liability)&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>(Stock Code: 1179)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROPOSED SHARE SUBDIVISION&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROPOSED CHANGE OF BOARD LOT
SIZE&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROPOSED ADOPTION OF AMENDED
AND RESTATED MEMORANDUM&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>AND ARTICLES OF ASSOCIATION&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>AND&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>RECORD DATE FOR ANNUAL GENERAL
MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>PROPOSED SHARE SUBDIVISION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">As at the date of this announcement,
the authorized share capital of the Company is US$900,000 divided into 8,000,000,000 ordinary shares of par value of US$0.0001 each and
1,000,000,000 preferred shares of par value US$0.0001 each. The board of directors of the Company (the &ldquo;<B>Board</B>&rdquo;) proposes
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 34pt">(i)</TD><TD STYLE="text-align: justify">each issued and unissued ordinary share of the Company with a par value of US$0.0001 each (the &ldquo;<B>Existing
Ordinary Shares</B>&rdquo; or &ldquo;<B>Ordinary Shares</B>&rdquo;) be sub-divided into 10 ordinary shares with a par value of US$0.00001
each (the &ldquo;<B>Subdivided Ordinary Shares</B>&rdquo;); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 34pt">(ii)</TD><TD STYLE="text-align: justify">each issued and unissued preferred share of the Company with a par value of US$0.0001 each be sub-divided
into 10 preferred shares (the &ldquo;<B>Subdivided Preferred Shares</B>&rdquo;) with a par value of US$0.00001 each (together with paragraph
(i)&nbsp;above, the &ldquo;<B>Share Subdivision</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>Effect of the Share Subdivision</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Immediately following the Share
Subdivision being effective, the authorized share capital of the Company will be US$900,000 divided into 80,000,000,000 Subdivided Ordinary
Shares and 10,000,000,000 Subdivided Preferred Shares, of which 3,267,480,580 Subdivided Ordinary Shares will be in issue and fully paid
or credited as fully paid, assuming that no further Ordinary Shares will be issued or repurchased after the date of this announcement
and prior to the Share Subdivision becoming effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Upon the Share Subdivision becoming
effective, the Subdivided Ordinary Shares shall rank pari passu in all respects with each other in accordance with the current amended
and restated memorandum and articles of association of the Company (the &ldquo;<B>M&amp;A</B>&rdquo;) and shall have the same rights and
privileges and be subject to the same restrictions as the Existing Ordinary Shares in issue prior to the Share Subdivision, and the Share
Subdivision will not result in any change in the relevant rights of the holders of the Ordinary Shares (the &ldquo;<B>Shareholders</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>Simultaneous ADS Ratio Change</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">In connection with the Share Subdivision,
the Board has approved a change in the Company&rsquo;s ratio of ADS(s)&nbsp;to Ordinary Share(s)&nbsp;from one (1)&nbsp;ADS representing
one (1)&nbsp;Ordinary Share to a new ratio of one (1)&nbsp;ADS representing ten (10)&nbsp;Subdivided Ordinary Shares (the &ldquo;<B>ADS
Ratio Change</B>&rdquo;). The ADS Ratio Change and the Share Subdivision, if approved, will take effect on the same date. No action is
required by the Company&rsquo;s ADS holders to effect the ADS Ratio Change (other than to vote to approve the Share Subdivision proposal
at the forthcoming annual general meeting of the Company (the &ldquo;<B>General Meeting</B>&rdquo;)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>Conditions of the Share Subdivision</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">The Share Subdivision is conditional
on:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 33pt">(a)</TD><TD STYLE="text-align: justify">the passing by the Shareholders at the General Meeting of an ordinary resolution approving the Share Subdivision;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 33pt">(b)</TD><TD STYLE="text-align: justify">the Listing Committee (the &ldquo;<B>Listing Committee</B>&rdquo;) of The Stock Exchange of Hong Kong
Limited (the &ldquo;<B>Hong Kong Stock Exchange</B>&rdquo;) granting the listing of, and permission to deal in, the Subdivided Ordinary
Shares to be issued in exchange for the Existing Ordinary Shares, any Subdivided Ordinary Shares which may fall to be issued upon vesting
of the restricted stocks to be granted from time to time under the share incentive plan adopted by the Company on October&nbsp;1, 2009
(the &ldquo;<B>Share Incentive Plan</B>&rdquo;) and any Subdivided Ordinary Shares which may fall to be issued upon conversion of the
convertible senior notes issued by the Company on November&nbsp;3, 2017 and May&nbsp;12, 2020 (the &ldquo;<B>Convertible Bonds</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>CHANGE OF BOARD LOT SIZE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">The Ordinary Shares are
currently traded on the Hong Kong Stock Exchange in board lot size of 50 Existing Ordinary Shares each. The Board proposes that
subject to and upon the Share Subdivision becoming effective, the board lot size will be changed from 50 Existing Ordinary Shares to
100 Subdivided Ordinary Shares (the &ldquo;<B>Change of Board Lot Size</B>&rdquo;). The Change of Board Lot Size will not affect any
of the relative rights of the Shareholders. There will be a temporary counter open for trading in temporary board lot of 500
Subdivided Ordinary Shares (in the form of Existing Ordinary Share certificates) between 9:00 a.m.&nbsp; on Tuesday, June&nbsp; 29,
2021 and 4:10 p.m.&nbsp; on Tuesday, August&nbsp;3, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>EXPECTED TIMETABLE(1)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">The following timetable sets out the key days for
the Share Subdivision and Change of Board Lot Size:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 66%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-size: 10pt; color: #231F20">Hong Kong time</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-size: 10pt; color: #231F20">New York time</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Record date for the General Meeting for Ordinary Shares
    recorded on the Hong Kong share register, <U>for</U> <U>holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">4:30 p.m., Monday, May&nbsp;17, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Record date for the General Meeting, <U>for holders of
    ADSs listed in the U.S.</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Close of business, Monday, May&nbsp;17, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Latest time for lodging transfer documents to qualify
    for attending and voting at the General Meeting, <U>for</U> <U>holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">4:30 p.m., Monday, May&nbsp;17, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Latest time for lodging votes to depositary bank, <U>for
    holders of ADSs listed in the U.S.</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">10:00 a.m., Wednesday June&nbsp;16, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Latest time for lodging forms of proxy for the General
    Meeting, <U>for holders of Ordinary Shares listed in Hong Kong</U><SUP>(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">10:00 a.m., Wednesday, June&nbsp;23, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Date and time of General Meeting</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">10:00 a.m., Friday, June&nbsp;25, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">10 p.m., Thursday, June&nbsp;24, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Announcement of poll results of the General Meeting</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Before 9:00 p.m., Friday, June&nbsp;25, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Before 9:00 a.m., Friday, June&nbsp;25, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">The following timetable sets out the events following the approval at the General Meeting and upon the fulfillment of the conditions for the Share Subdivision:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: #231F20">Hong Kong time</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: #231F20">New York time</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Effective date of the Share Subdivision and the Amended M&amp;A (as defined below)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Tuesday, June&nbsp;29, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">First day of free exchange of Existing Ordinary Share
    certificates for Subdivided Ordinary Share certificates for the Subdivided Ordinary Shares, <U>for holders of Ordinary Shares listed
    in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Tuesday, June&nbsp;29, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 66%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%"><FONT STYLE="font-size: 10pt; color: #231F20">Hong Kong time</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%"><FONT STYLE="font-size: 10pt; color: #231F20">New York time</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Commencement of dealings in the Subdivided Ordinary Shares,
    <U>for holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">9:00 a.m., Tuesday, June&nbsp;29, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Original counter for trading the Existing Ordinary Shares
    in board lots of 50 Existing Ordinary Shares (being&nbsp;&nbsp;the&nbsp;&nbsp;&ldquo;existing&nbsp;&nbsp;board&nbsp;&nbsp;lot&rdquo;)&nbsp;&nbsp;temporarily&nbsp;&nbsp;closes
    on the Hong Kong Stock Exchange, <U>for holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">9:00 a.m., Tuesday, June&nbsp;29, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Temporary counter for trading in the Subdivided Ordinary
    Shares (in the form of Existing Ordinary Share certificates) and in board lots of 500 Subdivided Ordinary Shares (being the &ldquo;temporary
    board lot&rdquo;) opens on the Hong Kong Stock Exchange, <U>for holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">9:00 a.m., Tuesday, June&nbsp;29, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Original counter for trading in Subdivided Ordinary Shares
    (in the form of Subdivided Ordinary Share certificates) and in new board lot of 100 Subdivided Ordinary Shares (being the &ldquo;new
    board lot&rdquo;) re-opens on Hong Kong Stock Exchange, <U>for holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">9:00 a.m., Wednesday, July&nbsp;14, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Parallel trading in the Subdivided Ordinary Shares (in
    the form of Existing Ordinary Share certificates and Subdivided Ordinary Share certificates) starts on the Hong Kong Stock Exchange,
    <U>for holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">9:00 a.m., Wednesday, July&nbsp;14, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Temporary counter for trading in the Subdivided Ordinary
    Shares (in the form of Existing Ordinary Share certificates) and in temporary board lot closes on the Hong Kong Stock Exchange, <U>for
    holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">4:10 p.m., Tuesday, August&nbsp;3, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Parallel trading in the Subdivided Ordinary Shares (in
    the form of Existing Ordinary Share certificates and Subdivided Ordinary Share certificates) closes on the Hong Kong Stock Exchange,
    <U>for holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">4:10 p.m., Tuesday, August&nbsp;3, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Last day of free exchange of Existing Ordinary Share certificates for Subdivided Ordinary Share certificates, <U>for holders of Ordinary Shares listed in Hong Kong</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">Thursday, August&nbsp;5, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: #231F20">&ndash;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Note:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 34pt">(1)</TD><TD STYLE="text-align: justify">Dates and times above are indicative only and may be varied by the Company. Any consequential changes
to the expected timetable will be notified to the Shareholders (including ADS holders) as and when appropriate in accordance with relevant
Hong Kong and U.S. regulations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 34pt; text-align: left">(2)</TD><TD STYLE="text-align: justify">The latest time to lodge the form of proxy prior to the date
of the General Meeting is consistent with the M&amp;A. All the persons who are registered holders of the Ordinary Shares on May&nbsp;17,
2021 (Hong Kong time) will be entitled to attend and vote at the General Meeting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>EXCHANGE OF SHARE CERTIFICATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Holders of Ordinary Shares listed
in Hong Kong may submit their Existing Ordinary Share certificates (colored blue) to the address and between the times set out below in
exchange for Subdivided Ordinary Share certificates (colored green). The existing share certificates for the Ordinary Shares will only
be valid for delivery, trading and settlement purposes for the period up to 4:10 p.m.&nbsp; on Tuesday, August&nbsp; 3, 2021 and thereafter
will not be accepted for delivery, trading and settlement purposes. However, the Existing Ordinary Share certificates will continue to
be good evidence of legal title and may be exchanged for share certificates for the Subdivided Ordinary Shares at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%"><FONT STYLE="font-size: 10pt; color: #231F20">Period to exchange for Subdivided Ordinary Share certificates at no extra cost</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt; color: #231F20">:</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-size: 10pt; color: #231F20">Tuesday, June&nbsp;29, 2021 until Thursday, August&nbsp;5, 2021 (Hong Kong time)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Exchange for Subdivided Ordinary Share certificates for HK$2.50 (or as otherwise specified by the Hong Kong Stock Exchange)**</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Friday, August&nbsp;6, 2021 (Hong Kong time) onwards</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Address</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Computershare Hong Kong Investor Services Limited Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wanchai, Hong Kong</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">Note:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 34pt">**</TD><TD>The total fee for exchange of share certificates will be the higher of HK$2.50 multiplied by the number of certificates issued or
HK$2.50 multiplied by the number of certificates cancelled.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>REASONS FOR THE SHARE SUBDIVISION
AND CHANGE OF BOARD LOT SIZE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">The Share Subdivision will increase
the number of Ordinary Shares in issue and reduce the nominal value and trading price of each Ordinary Share. The Board believes that
this will lower the investment barrier and increase the trading liquidity of the Ordinary Shares. The increase in trading liquidity would
attract more investors to trade in the Ordinary Shares, and give the Company more flexibility to explore future fundraising activities
or share incentive schemes. Further, the Board has also observed the trading behavior and trading price of the ordinary shares of a comparable
secondary listed company in Hong Kong before and after conducting share subdivision. Based on the above reasons and observations, the
Board has proposed the Share Subdivision after the Company&rsquo;s secondary listing in Hong Kong on September&nbsp;22, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">As at the date of this announcement,
the market value per board lot of 50 Ordinary Shares is approximately HK$23,000. The expected value per new board lot of 50 Subdivided
Ordinary Shares will theoretically be reduced to slightly higher than HK$2,000 immediately upon the Share Subdivision becoming effective,
and the expected value per new board lot of 100 Subdivided Ordinary Shares will be approximately HK$4,500 immediately upon the Share Subdivision
and the Change of Board Lot Size becoming effective. The reasons for conducting the Change of Board Lot Size are to ensure the Company&rsquo;s
compliance with the board lot value being more than HK$2,000 as set out in the Guide on Trading Arrangements for Selected Types of Corporate
Actions issued by the Hong Kong Stock Exchange on November&nbsp;28, 2008 and updated on October&nbsp;1, 2020, and to take into account
the transaction costs involved in trading securities. Therefore, the Board considers that a board lot value of HK$4,500 would be commercially
beneficial to Shareholders and potential investors as a whole. Both the Share Subdivision and the Change of Board Lot Size will not result
in odd lots or fractional shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Based on the above, the Board
considers that the proposed Share Subdivision and Change of Board Lot Size are fair and reasonable, as well as in the best interests of
the Company, its Shareholders and investors overall.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>LISTING APPLICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">An application will be made by
the Company to the Listing Committee for the listing of, and the permission to deal in, the Subdivided Ordinary Shares to be issued in
exchange for the Existing Ordinary Shares, and any Subdivided Ordinary Shares which may fall to be issued upon vesting of the restricted
stocks to be granted from time to time under Share Incentive Plan and upon conversion of the Convertible Bonds. All necessary arrangements
will be made for the Subdivided Ordinary Shares to be admitted into the Central Clearing and Settlement System (&ldquo;<B>CCASS</B>&rdquo;)
established and operated by Hong Kong Securities Clearing Company Limited (&ldquo;<B>HKSCC</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Subject to the granting of listing
of, and permission to deal in, the securities on the Hong Kong Stock Exchange, the securities will be accepted as eligible securities
by HKSCC for deposit, clearance and settlement in CCASS with effect from the commencement date of dealings in the Subdivided Ordinary
Shares on the Hong Kong Stock Exchange or such other date as determined by HKSCC. Settlement of transactions between participants of the
Hong Kong Stock Exchange on any trading day is required to take place in CCASS on the second settlement day thereafter. All activities
under CCASS are subject to the General Rules&nbsp;of CCASS and CCASS Operational Procedures in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>PROPOSED AMENDMENTS TO MEMORANDUM
AND ARTICLES OF ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">The Board deems it advisable and
in the best interests of the Company that the M&amp;A be amended to reflect, among other things, the (i)&nbsp; Share Subdivision and (ii)&nbsp;
no share certificates shall be required to be issued by the Company unless required by certain applicable laws, listing rules&nbsp;or
operating requirements of stock exchanges or clearing houses, or if so requested in writing by any Shareholder. A special resolution will
be proposed at the General Meeting to approve the amendments to the M&amp;A. The adoption of the amended and restated M&amp;A (the &ldquo;<B>Amended
M&amp;A</B>&rdquo;) in substitution for and to the exclusion of the M&amp;A will take effect upon the Share Subdivision becoming effective.
The relevant details of the proposed amendments to the M&amp;A will be set out in the proxy statement/circular of the Company to be published
in due course.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>RECORD DATE FOR ANNUAL GENERAL
MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">The record date for the purpose
of determining the eligibility of the holders of the Ordinary Shares of the Company, par value US$0.0001 per share to attend and vote
at the General Meeting will be on Monday, May&nbsp;17, 2021, Hong Kong time (the &ldquo;<B>Ordinary Shares Record Date</B>&rdquo;). In
order to be eligible to attend and vote at the General Meeting, all valid documents for the transfers of shares accompanied by the relevant
share certificates must be lodged with the Company&rsquo;s Hong Kong branch share registrar and transfer office, Computershare Hong Kong
Investor Services Limited, Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Hong Kong, not later than 4:30
p.m.&nbsp;on Monday, May&nbsp;17, 2021 Hong Kong time. All persons who are registered holders of the Ordinary Shares on the Ordinary
Shares Record Date will be entitled to attend and vote at the General Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Holders of ADSs issued by Citibank,
N.A., as depositary of the ADSs, and representing the Ordinary Shares are not entitled to attend or vote at the General Meeting in person
under the M&amp;A. Holders of ADSs as of close of business on Monday, May&nbsp;17, 2021, New York time (the &ldquo;<B>ADSs Record Date</B>&rdquo;,
together with the Ordinary Shares Record Date, the &ldquo;<B>Record Date</B>&rdquo;), will be able to instruct Citibank, N.A., the holder
of record of Ordinary Shares (through a nominee) represented by ADSs, as to how to vote the Ordinary Shares represented by such ADSs.
Citibank, N.A., as depositary of the ADSs, will endeavor, to the extent practicable and legally permissible, to vote or cause to be voted
at the General Meeting the Ordinary Shares it holds in respect of the ADSs in accordance with the instructions that it has properly received
from ADS holders who hold ADSs as of the ADS Record Date. Please be aware that, because of the time difference between Hong Kong and New
York and the time required to process ADS cancellation and the re-registration of Ordinary Shares, if a holder of ADSs wishes to attend
and vote at the General Meeting, such holder must cancel his or her ADSs in exchange for Ordinary Shares well before May&nbsp;17, 2021,
New York time. Any holder of ADSs who presents ADSs for cancellation before the ADSs Record Date will not be able to instruct Citibank,
N.A., as depositary of the ADSs, as to how to vote the Ordinary Shares represented by the cancelled ADSs as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Details including the location
of the General Meeting will be set out in the Company&rsquo;s notice of General Meeting to be issued together with the proxy materials
in due course.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>GENERAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">A circular containing the information
regarding, among other things, (i)&nbsp;details of the Share Subdivision and the Change of Board Lot Size, (ii)&nbsp;the trading arrangements
in respect of the Subdivided Ordinary Shares; and (iii)&nbsp; details of the amendments to the M&amp;A, and a notice convening the General
Meeting will be issued by the Company on or before May&nbsp;14, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><B>Completion of the Share Subdivision
is subject to the fulfillment of certain conditions. Accordingly, the Share Subdivision may or may not proceed. Shareholders and potential
investors are advised to exercise caution when dealing in the securities of the Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 30%; font: 10pt Times New Roman, Times, Serif; color: #231F20"><FONT STYLE="font-size: 10pt">By order of the Board</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; color: #231F20"><FONT STYLE="font-size: 10pt">Huazhu Group Limited</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; color: #231F20"><FONT STYLE="font-size: 10pt">JI Qi</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; color: #231F20"><FONT STYLE="font-size: 10pt">Executive Chairman</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Hong Kong, April&nbsp;28, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">As at the date of this announcement,
the Board of the Company comprises Mr.&nbsp;JI Qi, the Executive Chairman, Ms.&nbsp;ZHANG Min, Mr.&nbsp;S&eacute;bastien, Marie, Christophe
BAZIN and Mr.&nbsp;ZHANG Shangzhi as directors; Mr.&nbsp;John WU Jiong, Ms.&nbsp;ZHAO Tong Tong, Mr.&nbsp;SHANG Jian, Mr.&nbsp;HEE Theng
Fong and Ms.&nbsp;CAO Lei as independent directors; and Mr.&nbsp;Gaurav BHUSHAN as alternate director to Mr.&nbsp;S&eacute;bastien, Marie,
Christophe BAZIN.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>tm2114421d2_ex99-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2114421d2_ex99-1img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  (! 0(! 0(" @(" @(" P4# P,#
M P8$! ,%!P8'!P<&!P<("0L)" @*" <'"@T*"@L,# P,!PD.#PT,#@L,# S_
MVP!# 0(" @,# P8# P8," <(# P,# P,# P,# P,# P,# P,# P,# P,# P,
M# P,# P,# P,# P,# P,# P,# P,# S_P  1" !& *T# 2(  A$! Q$!_\0
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M-Q!XC\7^([9K"".*UEW2M:0_?F ,1^89(&<QCJ.3_P""3/\ P29\"_&/X/\
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MA_7=/_LW[-?V&D007$&_4[2-]KJH(RCLIQU#$=ZJ_P#!(7]A+X.?&7_@G?\
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
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
