360 Ludashi : TERMINATION OF CONNECTED TRANSACTION IN RELATION TO ACQUISITION OF A LICENSED CORPORATION

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360 LUDASHI HOLDINGS LIMITED 360 ኁɽࢪછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3601)

TERMINATION OF CONNECTED TRANSACTION IN RELATION TO

ACQUISITION OF A LICENSED CORPORATION

References are made to the announcements of 360 Ludashi Holdings Limited (the "Company") dated 24 June 2020 and 31 December 2020 (the "Announcements") in relation to, among other things, the connected transaction of the Company regarding the acquisition of a licensed corporation. Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements unless otherwise defined.

The Board announces that in view of the facts that as at the date of this announcement all required approvals from the regulatory authorities regarding the Acquisition have not been obtained and the rapid change in market conditions, taking the commercial considerations and the interests of the Company and its Shareholders into account, on 4 March 2021(after trading hours), the Purchasers decided not to proceed with the Acquisition and issued a written notice (the "Notice") to the Vendor to terminate the Agreement in accordance with the relevant terms and conditions of the Agreement, pursuant to which, the Agreement shall be terminated with effect from the date of the Notice, and the Purchasers and the Vendor shall release each other from their respective further liabilities and obligations under the Agreement.

The Board considers that the termination of the Acquisition shall not have any material adverse impact on the financial position and business operation of the Group.

Shareholders and potential investors of the Company are reminded to exercise caution when dealing in securities of the Company.

By order of the Board of

360 Ludashi Holdings Limited

Mr. TIAN Ye

Chairman and executive Director

Hong Kong, 4 March 2021

As at the date of this announcement, the Board comprises: Mr. Tian Ye and Mr. He Shiwei as executive Directors; Mr. Sun Chunfeng, Mr. Liu Wei and Mr. Zhao Dan as non-executive Directors; and Mr. Li Yang, Mr. Wang Xinyu, Mr. Zhang Ziyu and Mr. Zhu Jinglei as independent non-executive Directors.