China Vered Financial : ANNOUNCEMENT (1) CONNECTED TRANSACTION IN RELATION TO THE DEEMED DISPOSAL OF EQUITY INTEREST IN A WHOLLY-OWNED SUBSIDIARY; AND (2) CONTINUING CONNECTED TRANSACTION

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.

China Vered Financial Holding Corporation Limited ʕᑢږፄછٰϞࠢʮ̡

(Incorporated in Hong Kong with limited liability)

(Stock Code: 245)

ANNOUNCEMENT

(1) CONNECTED TRANSACTION IN RELATION TO THE DEEMED DISPOSAL OF EQUITY INTEREST

IN A WHOLLY-OWNED SUBSIDIARY; AND (2) CONTINUING CONNECTED TRANSACTION

SUBSCRIPTION AGREEMENT

The Board would like to announce that on 15 March 2021 (after trading hours), JBC (a wholly-owned subsidiary of the Company) and Vered Japan have entered into the Subscription Agreement, pursuant to which Vered Japan agreed to subscribe for 8,648 ordinary shares of JBC (representing approximately 49.003% of the enlarged equity interest in JBC) at the consideration of JPY86.48 million (equivalent to approximately HK$6.2 million). Completion of the Subscription Agreement took place on the same day.

MANAGEMENT SERVICES UNDER THE INVESTMENT PARTNERSHIP AGREEMENT

JBC, as an executing partner, would provide management services to the Fund and the Fund would pay certain management fees to JBC pursuant to the Investment Partnership Agreement (entered into between JBC and CVJS on 24 March 2020), for each business year in the following amounts (each an annual amount) in cash in arrears (on the last Business Day of each quarter period (March, June, September, and December), beginning in June 2020:

(i) For the first business year, an amount equal to 1.5% of the total capital contribution of all Partners (prorated on the basis of a 365-day year);

(ii) For each of the second and subsequent business years until the business year in which the expiration date of the Commitment Period falls, an amount equal to 1.5% of the total capital contribution of all Partners; and

(iii) For each of the business years following the business year in which the expiration date of the Commitment Period falls, an amount equal to 1.5% of the Investment Amount as of the end of the preceding business year.

LISTING RULES IMPLICATIONS

Upon the completion of the Subscription, the equity interest of the CVAM (a wholly-owned subsidiary of the Company) in JBC will be reduced from 100% to approximately 50.997%. The Subscription as contemplated under the Subscription Agreement therefore constitutes a deemed disposal under Rule 14.29 of the Listing Rules. As at the date of this announcement, Vered Japan is an indirect wholly-owned subsidiary of Vered PRC which holds approximately 28.93% of shareholding in the Company. According to Rule 14A.13 of the Listing Rules, Vered Japan is a connected person of the Company. Accordingly, the Subscription constitutes a connected transaction for the Company under Rules 14A.25 of the Listing Rules. As the highest applicable percentage ratio calculated under Rule 14.07 of the Listing Rules is more than 0.1% but less than 5%, the Subscription under the Subscription Agreement is subject to announcement requirement but exempt from the independent shareholders' approval requirement under Rule 14A.76(2) of the Listing Rules.

As a result of the completion of the Subscription, Vered PRC, a substantial shareholder of the Company, will be indirectly holding approximately 49.003% equity interests (via its wholly-owned subsidiary, Vered Japan) in JBC and therefore JBC will become a connected subsidiary of the Company under Rule 14A.16(1) of the Listing Rules. The provision of management services under the Investment Partnership Agreement to the Fund by JBC as executing partner and the payment of management fees by the Fund to JBC will constitute a continuing connected transaction under Rules 14A.25 and 14A.31 of the Listing Rules. As the highest applicable percentage ratio calculated under Rule 14.07 of the Listing Rules is more than 0.1% but less than 5%, the provision of management services to the Fund by JBC and the management fees payable under the Investment Partnership Agreement by the Fund to JBC will only subject to announcement and annual review requirements but exempt from the independent shareholders' approval requirement under Rule 14A.76(2) pursuant to the Listing Rules.

The Board would like to announce that on 15 March 2021 (after trading hours), the Group has entered into the Subscription Agreement and the Shareholders' Agreement.

SUBSCRIPTION AGREEMENT

On 15 March 2021 (after trading hours), Vered Japan and JBC, have entered into the Subscription Agreement, pursuant to which Vered Japan agreed to subscribe for 8,648 ordinary shares of JBC (representing approximately 49.003% of the enlarged equity interest in JBC) at the consideration of JPY86.48 million (equivalent to approximately HK$6.2 million).

Vered Japan has paid the aggregate consideration to JBC's designated bank account on 15 March 2021.

SHAREHOLDERS' AGREEMENT

On 15 March 2021 (after trading hours), CVAM, Vered Japan and JBC entered into the Shareholders' Agreement to govern their rights and obligations as shareholders of JBC upon completion of the Subscription. The major terms of the Shareholders' Agreement are as follows:

Composition of JBC Board:

(i) The maximum number of directors holding office at any time shall not exceed 5. At any time the aggregate number of directors nominated by CVAM shall constitute a majority of the board (without taking into account the number of directors which are appointed as JBC Outside Directors).

(ii) From the date of execution of the Shareholders' Agreement, the directors shall comprise two persons who are directors nominated by CVAM.

• (iii) The chairman of the JBC Board shall be nominated by CVAM.

• (iv) Any matters arising in any meeting of the JBC Board shall be decided by a majority of votes. In the event of an equality of votes, the chairman of the meeting shall be entitled to a second or casting vote.

JBC's general meetings:

The chairman of JBC Board shall from time to time preside as chairman of each general meeting provided that if no chairman be elected, or if at any duly convened general meeting, the chairman of the JBC Board is not present within 30 minutes of the time specified for such general meeting, the shareholders of JBC may elect a chairman for such meeting.

Matters arising at any shareholders' meeting of JBC shall be decided by a majority of votes except as otherwise required under the Shareholders' Agreement or by the articles of incorporation of JBC or by any relevant law and in the case of an equality of votes, the chairman shall have a casting vote.

Reserved matters:

No resolution of the JBC Board or JBC's general meeting shall be passed in relation to the following matters unless the unanimous consent of the shareholders of JBC is obtained, and the shareholders of JBC shall procure JBC not to carry out any actions in relation to the following matters unless such unanimous consent has been reached:

(i) the creation or issue of shares of JBC (or any of its subsidiaries) or the grant of any options over any such shares or uncalled capital of JBC (or any of its subsidiaries) or the issue of any warrant, debentures, securities or other obligations convertible into shares of JBC (or any of its subsidiaries) or enter into any agreement to do the same;

(ii) the capitalisation, repayment or other form of distribution (other than by way of dividends out of profits available for distribution) of any amount standing to the credit of any reserve of JBC on the redemption or purchase of its shares or any other reorganisation of share capital;

• (iii) the winding-up, dissolution or liquidation of JBC;

• (iv) the admission of any person and whether by subscription or transfer of the shares of JBC as a member of JBC;

• (v) the alteration of the rights of CVAM and Vered Japan as a shareholder of JBC;

• (vi) the alteration of the JBC's articles of incorporation or other constitutional documents of the Company and the passing of any resolutions, inconsistent with the provisions of the Shareholders' Agreement;

(vii) the alteration of the composition of the JBC Board;

(viii) the change, appointment or removal of auditors of JBC;

• (ix) the change of any dividend policy of JBC;

• (x) the granting of any power of attorney to a person other than a director of JBC or delegation of directors' powers that is out of usual authority of a director of JBC; and

• (xi) the alteration of the Shareholders' Agreement.

Termination:

The Shareholders' Agreement may be terminated at any time by the written agreement of all shareholders of JBC or if any of the events set out below shall occur:

• (1) any shareholder ceased to be a shareholder of JBC; or

• (2) if an order is made or an effective resolution is passed or analogous proceedings are taken for the winding up of JBC other than for the purposes of amalgamation or reconstruction or if all or substantially all of the assets of JBC are expropriated or otherwise placed under the direct control of any government or if JBC is unable to pay its debts, makes a general assignment for the benefit of its creditors or has a receiver or manager appointed over all or a substantial part of its undertakings or assets.

INFORMATION ON JBC

JBC was incorporated in Japan with limited liability on 27 September 2019. On 17 February 2020, CVAM acquired 20 shares of JBC, representing the entire issued share capital of JBC from Mr. Watanabe as a shelf company at the consideration of JPY200,000 (equivalent to approximately HK$14,200). On 28 February 2020, CVAM subscribed for an additional 8,980 shares of JBC at a total consideration of JPY89.8 million (equivalent to approximately HK$6.39 million).

As of the date of this announcement, JBC has an issued share capital of JPY90 million (equivalent to approximately HK$6.4 million) divided into 9,000 shares, all of which are held by CVAM. JBC's principal activity is investment holding and the provision of management services to the Fund. JBC is preparing for application of Investment Management Business (discretionary investment business) license and Type II Financial Instruments Business license from the Kanto Local Finance Bureau of Japan.

The key financial information of JBC based on the unaudited consolidated financial statements of JBC prepared according to Japanese generally accepted accounting principles is as follows (in JPY):

From

27 September 2019

(date of inception) to	For the year ended
31 December 2019	31 December 2020
'000	'000
Profit before taxation	0	1,274.9
(equivalent to HK$0)	(equivalent to
approximately
HK$90,700)
Profit after taxation	0	709.7
(equivalent to HK$0)	(equivalent to
approximately
HK$50,500)
As at 31 December	As at 31 December
2019	2020 (Note 3)
'000	'000
Net Assets	200	90,709.7
(equivalent to	(equivalent to
approximately	approximately
HK$14,200)	HK$6.45 million)

(Note 2)

(Note 1)

Note 1:

JBC was incorporated in Japan on 27 September 2019 and commenced business in March 2020. On 17 February 2020, CVAM acquired the entire issued share capital of JBC from Mr. Watanabe as a shelf company at the consideration of JPY200,000 (equivalent to approximately HK$14,200), being the issued share capital of JBC.

Note 2:

JBC is exempted from audit requirements for the financial year ended 31 December 2020 as its issued share capital is less than JPY500 million.

Note 3:

JBC is exempted from audit requirements for the financial year ended 31 December 2020 as its issued share capital is less than JPY500 million. On 28 February 2020, CVAM subscribed for an additional 8,980 shares of JBC at a total consideration of JPY89.8 million (equivalent to approximately HK$6.39 million).

FINANCIAL EFFECT OF THE SUBSCRIPTION

Upon the completion of the Subscription, the percentage of equity interests in JBC held by the Company via CVAM will be reduced from 100% to approximately 50.997%. JBC will become an indirect non-wholly owned subsidiary of the Company and its results will remain consolidated into the results of the Group.

MANAGEMENT SERVICES UNDER INVESTMENT PARTNERSHIP AGREEMENT

On 24 March 2020, JBC and CVJS, both wholly-owned subsidiaries of the Company, entered into the Investment Partnership Agreement, pursuant to which, among other matters, CVJS and JBC agreed to make a capital contribution of JPY3,920 million and JPY80 million to the Fund, respectively.

Further, JBC, as an executing partner, would provide management services to the Fund and the Fund would pay certain management fees to JBC pursuant to the Investment Partnership Agreement, for each business year in the following amounts (each an annual amount) in cash in arrears (on the last Business Day of each quarter period (March, June, September, and December), beginning in June 2020:

(i) For the first business year, an amount equal to 1.5% of the total capital contribution of all Partners (prorated on the basis of a 365-day year);

• (ii) For each of the second and subsequent business years until the business year in which the expiration date of the Commitment Period falls, an amount equal to 1.5% of the total capital contribution of all Partners; and

• (iii) For each of the business years following the business year in which the expiration date of the Commitment Period falls, an amount equal to 1.5% of the Investment Amount as of the end of the preceding business year.

Given the Subscription, CVJS and JBC entered into a side letter on 15 March 2021 that notwithstanding the terms set out in the Investment Partnership Agreement, CVJS and JBC shall enter into separate agreement for renewal of fund management service for the Fund beyond 31 December 2023.

Historical amounts and annual caps:

The historical amounts of the management fees paid by the Fund to JBC under the Investment Partnership Agreement for the year ended 31 December 2020 is JPY46.5 million (equivalent to approximately HK$3.3 million).

The following table sets out the annual caps for the management fees payable by the Fund to JBC for the provision of management services:

From 15 March 2021 (date of completion of

the Subscription)	For the year ending
to 31 December	31 December 31 December
2021	2022 2023
Annual caps	JPY60,000,000

JPY60,000,000 JPY60,000,000

Note:

JPY60,000,000 is equivalent to approximately HK$4.3 million.

The annual caps are determined with reference to, amongst others, the agreed capital commitment by all partners to the Fund, the proposed Investment Amount and the prevailing market rate of management fee for providing fund management services in Japan.

REASONS AND BENEFIT OF THE SUBSCRIPTION

The proceeds from the Subscription are intended to be applied towards the replenishment of JBC's operating cash flow and furtherance of JBC's business and/or investment (including but not limited to capital injection towards the Fund). Further, there has been close cooperation between Vered Japan and the Fund such as businesses referral since the commencement of operations of the Fund.

Therefore, the Directors are of the view that the introduction of Vered Japan's investment and participation in the management of JBC will further the cooperation between the Fund and Vered Japan and also allow the Group to leverage on Vered PRC's business network, which could promote JBC's fundraising capability and its businesses in Japan.

The consideration was arrived after arm's length negotiations between the parties to the Subscription Agreement with reference to, among others, the business prospects of JBC, the capital requirements for development of JBC's business, and the parties' proportionate interests therein.

In light of the above, the Directors (including independent non-executive Directors) are of the view that the transactions contemplated under the Subscription Agreement, the Shareholders' Agreement and the continuation of the management services provided by JBC under the Investment Partnership Agreement are on normal commercial terms, and the terms contained therein are fair and reasonable and in the best interests of the Company and its Shareholders as a whole.

LISTING RULES IMPLICATIONS

Upon the completion of the Subscription, the equity interest of CVAM in JBC will be reduced from 100% to approximately 50.997%, the Subscription as contemplated under the Subscription Agreement therefore constitutes a deemed disposal under Rule 14.29 of the Listing Rules. As at the date of this announcement, Vered Japan is an indirect wholly-owned subsidiary of Vered PRC, which holds approximately 28.93% of shareholding in the Company. According to Rule 14A.13 of the Listing Rules, Vered Japan is a connected person of the Company. Accordingly, the Subscription constitutes a connected transaction for the Company under Rules 14A.25 of the Listing Rules. As the highest applicable percentage ratio calculated under Rule 14.07 of the Listing Rules is more than 0.1% but less than 5%, the Subscription under Subscription Agreement is subject to announcement requirement but exempt from the independent shareholders' approval requirement under Rule 14A.76(2) of the Listing Rules.

As a result of the completion of the Subscription, Vered PRC, a substantial shareholder of the Company, will be indirectly holding approximately 49.003% equity interest (via its wholly-owned subsidiary, Vered Japan) in JBC and therefore JBC will become a connected subsidiary of the Company under Rule 14A.16(1) of the Listing Rules. The provision of management services under the Investment Partnership Agreement to the Fund by JBC as executing partner and the payment of management fees by the Fund to JBC will constitutecontinuing connected transactions under Rules 14A.25 and 14A.31 of the Listing Rules. As the highest applicable percentage ratio calculated under Rule 14.07 of the Listing Rules is more than 0.1% but less than 5%, the provision of management services to the Fund by JBC and the management fees payable under the Investment Partnership Agreement by the Fund to JBC will only subject to announcement and annual review requirements but exempt from the independent shareholders' approval requirement under Rule 14A.76(2) pursuant to the Listing Rules.

BOARD'S APPROVAL

Given Mr. Watanabe and Mr. Zhang Yang, the non-executive Director, are currently serving as the vice president of Vered PRC and Mr. Watanabe is a director of Vered Japan, Mr. Watanabe and Mr. Zhang Yang had abstained from voting on the relevant Board resolutions approving the Subscription Agreement, the Shareholders' Agreement and the continuation of management services under the Investment Partnership Agreement and the transactions contemplated thereunder. Save as mentioned above, no other Director is considered to have a material interest in the Subscription Agreement, the Shareholders' Agreement and the continuation of management services under the Investment Partnership Agreement when passing the relevant Board resolutions and therefore no other Director are required to abstain from voting on such Board resolutions.

INFORMATION OF THE COMPANY AND THE GROUP

The Company is a company incorporated in Hong Kong with limited liability and the shares of the Company have been listed on the Stock Exchange since 25 August 1972. The Company is an investment holding company. The principal activities of the Group include investment holding, provision of asset management services, consultancy services, financing services, insurance agency services, securities advisory and securities brokerage services.

INFORMATION OF CVAM, CVJS, JBC, VERED JAPAN AND VERED PRC

CVAM is a company incorporated in Hong Kong with limited liability whose principal activity is asset management business and is licensed under the SFC to carry out type 4 (advising on securities) and type 9 (asset management) regulated activities under the SFO.

CVJS is a company incorporated in the British Virgin Islands with limited liability whose principal activity is investment holding.

Vered Japan is a company incorporated in Japan with limited liability and is a wholly-owned subsidiary of Vered Cayman which is in turn indirectly wholly-owned by Vered PRC. Vered Japan's principal activity is investment holding. Mr. Watanabe is a director of Vered Japan.

Vered PRC is a company incorporated in the PRC with limited liability whose principal activities are asset management and investment. As of the date of this announcement, the shareholding structure of Vered PRC is as follows:

• . Ningbo Huashan (21.19%);

• . Beijing Jujin Xiangyun (11.02%);

• . Cangzhou China Railway (8.47%);

• . Xin Fa Group (8.47%);

• . Ningbo Chengtong (8.47%);

• . China Minsheng Investment (8.47%);

• . Tianjin Keai Trading (6.78%);

• . Wison China (4.24%);

• . Ningbo Yuchuan Investment (4.24%);

• . Jinan High Tech City Construction (4.24%);

• . Shenzhen Maike (4.24%);

• . Yida Holdings (4.24%);

• . Giant Network (2.54%);

• . Beijing Ziyun Dongcheng (2.29%);

• . Beijing Yunheng (0.85%); and

• . Shenzhen Guohua (0.25%).

DEFINITIONS

In this announcement, unless the context otherwise requires, the following expressions have the following meanings:

''associate(s)''

has the meaning as ascribed to it under the Listing Rules

''Beijing Jujin Xiangyun''

Beijing Jujin Xiangyun Investment Management Co., Ltd* (北京聚金祥雲投資管理有限公司), a company established in the PRC with limited liability

''Beijing Yunheng''

Beijing Yunheng Capital Management Co.,Ltd* (北京蘊恒 資本管理有限公司), a company established in the PRC with limited liability

''Beijing Ziyun Dongcheng''

Beijing Ziyun Dongcheng Technology Consulting Co., Ltd* (北京紫雲東成科技諮詢有限公司), a company established in the PRC with limited liability

''Board''

the board of Directors

''Business Day''

any day other than Saturday, Sunday or any other day on which commercial banks in Tokyo and Hong Kong are authorized or required by applicable law, or regulation to close

''Cangzhou China Railway''

Cangzhou China Railway Equipment Manufacturing Materials Co.,Ltd.* (滄州中鐵裝備製造 材料有限公司 ), a company established in the PRC with limited liability

''China Minsheng

Investment''

China Minsheng Investment Company Limited* (中國民生 投資股份有限公司) is a limited joint stock company established in the PRC

''Commitment Period''

The 3-year period commencing from 24 March 2020 to 23 March 2023 (or such earlier date, if the Commitment Period ends earlier pursuant to the relevant provisions under the Investment Partnership Agreement)

''Company''

China Vered Financial Holding Corporation Limited, a company incorporated in Hong Kong with limited liability, the shares of which are listed on the Main Board of the Stock Exchange

''connected person(s)''

has the meaning as ascribed to it under the Listing Rules

''CVAM''

China Vered Asset Management (Hong Kong) Limited (formerly known as CM Asset Management (Hongkong) Company Limited), a company incorporated in Hong Kong with limited liability and an indirect wholly-owned subsidiary of the Company. It is a licensed corporation to carry out type 4 (advising on securities) and type 9 (asset management) regulated activities under the SFO

''CVJS''

CVAM Japan Strategy Limited, a company incorporated in the British Virgin Islands with limited liability and a direct wholly-owned subsidiary of CVAM

''Director(s)''

the director(s) of the Company

''Foreign Target Securities''

shares, share purchase warrants issued by, or equity interests in, a foreign corporation or any other securities similar to the foregoing

''Fund''	JBC Fund I, a partnership formed under the laws of Japan
whose principal activities are investment and provision of
investment management and/or consultation services in
Japan
''Giant Network''	Giant Network Group Co., Ltd. (巨人網絡集團股份有限公
司), a joint stock limited company established in the PRC,
the shares of which are listed on Shenzhen Stock Exchange
(Stock Code: 002558)
''Group''	the Company and its subsidiaries
''HK$''	Hong Kong dollars, the lawful currency of Hong Kong
''Hong Kong''	the Hong Kong Special Administrative Region of the PRC
''Investment Amount''	the total amount of the acquisition prices of all of the
Portfolio Securities and the portfolio intellectual properties
that have been acquired by the Fund at any given time
''Investment Partnership''	an Investment Non-Executing Partnership or a partnership
that is formed by a partnership agreement as set forth in
Article 667(1) of the Civil Code of Japan for the purpose of
conducting investment business or an organization similar to
that of the Fund located in any foreign country
''Investment Partnership	the investment partnership agreement in respect of the Fund
Agreement''	entered into by CVJS and JBC on 24 March 2020
''JBC''	JBC Holdings Co., Ltd., a company incorporated in Japan
and an indirect wholly-owned subsidiary of the Company
immediately prior to the completion of the Subscription
''JBC Board''	the board of directors of JBC
''JBC Outside Director(s)''	director(s) who is (are) neither employed by JBC, its
subsidiaries nor its shareholders
''Jinan High Tech City	Jinan High Tech City Construction Development Co., Ltd*
Construction''	(濟南高新城市建設發展有限公司), a company established
in the PRC with limited liability
''JPY''	Japanese Yen, the lawful currency of Japan
''Listing Rules''	the Rules Governing the Listing of Securities on the Stock
Exchange
''Mr. Watanabe''	Mr. Tomohiko Watanabe, an executive Director, the Chief
Executive Officer of the Company and the chairman of the
Board

''Ningbo Chengtong''	Ningbo Chengtong Investment Co., Ltd.* (寧波呈通投資有
限公司), a company established in the PRC with limited
liability
''Ningbo Huashan''	Ningbo Huashan Junde Investment Partnership (Limited
Partnership)* (寧波華山君德投資合夥企業(有限合夥)), a
limited partnership established in the PRC
''Ningbo Yuchuan	Ningbo Yuchuan Equity Investment Co., Ltd.* (寧波御川股
Investment''	權投資有限公司), a company established in the PRC with
limited liability
''Partners''	JBC (as executing partner) and CVJS (as non-executing
partner), being the partners to the Fund
''Portfolio Securities''	shares, interests, share purchase warrants, pecuniary
receivables, trust beneficial interests, contributions to
Investment Partnerships, or the Foreign Target Securities
that the Fund acquired or will acquire pursuant to the
Investment Partnership Agreement
''PRC''	the People's Republic of China
''SFC''	The Securities and Futures Commission
''SFO''	the Securities and Futures Ordinance (Chapter 571 of the
Laws of Hong Kong)
''Shareholders''	shareholders of the Company
''Shareholders' Agreement''	the shareholders' agreement entered into between CVAM,
Vered Japan and JBC on 15 March 2021
''Shenzhen Guohua''	Shenzhen Guohua Ruixin Industrial Co., Ltd.* (深圳國華瑞
新實業有限公司), a company established in the PRC with
limited liability
''Shenzhen Maike''	Shenzhen Maike Commodity Financial Services Co., Ltd.*
(深圳邁科大宗商品金融服務有限公司 ), a company
established in the PRC with limited liability
''Stock Exchange''	The Stock Exchange of Hong Kong Limited
''Subscription''	the subscription of 8,648 ordinary shares of JBC by Vered
Japan pursuant to the Subscription Agreement
''Subscription Agreement''	the subscription agreement entered into between Vered
Japan and JBC on 15 March 2021
''Tianjin Keai Trading''	Tianjin Keai Trading Company Limited* (天津珂艾商貿有
限公司), a company established in the PRC with limited
liability
''Vered Cayman''	Vered Holdings Group Ltd, a company incorporated in
Cayman and an indirect wholly-owned subsidiary of Vered
PRC
''Vered Japan''	Vered Holdings Co., Ltd* (ヴェレッドホールディングス株
式会社), a company incorporated in Japan and a wholly-
owned subsidiary of Vered Cayman
''Vered PRC''	Vered Holdings Corporation* 薔薇控股股份有限公司 ,a
company established in the PRC with limited liability
''Wison China''	Wison (China) Investment Co., Ltd. (惠 生(中國)投資有限公
司) , a company established in the PRC with limited liability
''Xin Fa Group''	Xin Fa Group Co., Ltd* (信發集團有限公司), a company
established in the PRC with limited liability
''Yida Holdings''	Yida Holdings Co., Ltd* (億達控股有限公司), a company
established in the PRC with limited liability
''%''	per cent.
Hong Kong, 15 March 2021

By order of the Board

China Vered Financial Holding Corporation Limited

Tomohiko Watanabe

Chairman

As at the date of this announcement, the Board comprises (1) Mr. Tomohiko Watanabe, Mr. Ni Xinguang and Ms. Li Wei as executive Directors; (2) Mr. Zhang Yang as non-executive Director; and (3) Mr. Wang Yongli, Ms. Zhou Hui and Mr. Dong Hao as independent non-executive Directors.

An exchange rate of JPY1.00 to HK$0.07116 has been adopted as the conversion rate of JPY into HK$ for the purpose of this announcement. Such exchange rate do not constitute a representation that any amounts have been, could have been, or may be exchanged at such or any other rates.

*

for identification purpose only