Chong Kin : LICENSED MARKETING AGENT SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE - USE OF PROCEEDS

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CHONG KIN GROUP HOLDINGS LIMITED

創 建 集 團（ 控 股 ）有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1609)

LICENSED MARKETING AGENT

SUBSCRIPTION OF NEW SHARES UNDER

GENERAL MANDATE - USE OF PROCEEDS

References are made to the announcements dated 15 January 2021, 21 January 2021, 24 March 2021 (the "Announcements") of Chong Kin Group Holdings Limited (the "Company") relating to the acquisition and development of a parcel of land in Grenada and granting of the status of Approved Real Estate Project of the University Town Project under the Citizenship by Investment Programme (the "CBI Programme") by the Grenadian Government. Capitalised terms shall have same meaning as defined in the Announcements unless otherwise defined.

LICENSED MARKETING AGENT

The board (the "Board") of directors of the Company is pleased to announce that Hartman Education Service Limited, an indirect wholly-owned subsidiary of the Company has been granted the Marketing Agent Licence (the "Marketing Agent") under the CBI Programme by the Grenadian Government. The licensed Marketing Agents are trusted global marketer which are permitted to promote, market, and disseminate information about CBI Programme and can sub-licence to qualified persons do so, the Marketing Agent can assist CBI investors in obtaining citizenship.

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As at the date of the announcement, the Grenadian Government has also approved 2,293 CBI application quota to the Group relates to the first phase of the Land Project and is processing the quota for the second and third phase of the Land Project. The Group is allowed to promote and to sell the CBI Programme to investors and to assist investors apply for Grenada citizenship accordingly. The marketing plan of the Group is to promote the CBI Programme to potential customers through different channels, in Hong Kong and China and shall expand globally.

USE OF NET PROCEEDS FROM THE SUBSCRIPTION OF NEW SHARES

References are also made to the announcement of the Company dated 20 April 2021 relating to the subscription (the "Subscriptions") of a total of 109,726,000 new Shares by no less than six subscribers.

The Board would announce that approximately HK$187.32 million, being 71% of the net proceeds from the Subscriptions will be utilised for the Land Project, HK$50 million, being 19% of the net proceeds from the Subscriptions will be utilised for the purpose of concrete placing business of the Group and approximately HK$26.37 million, being 10% of the net proceeds from the Subscriptions and the latest cash balance of the Company will be utilised as the Company's general working capital.

By order of the Board

Chong Kin Group Holdings Limited

Zhang Jinbing

Chairman

Hong Kong, 11 May 2021

As at the date hereof, the Honorary Chairman of the Company is Mr. Lyu Changsheng; the Board comprises three executive Directors, namely Mr. Zhang Jinbing (Chairman), Mr. Ma Chao (co-Chairman and Chief Executive Officer) and Mr. Qiu Peiyuan; one non-executive Director, namely Mr. Gao Gunter; and three independent non-executive Directors, namely Mr. Tam Ping Kuen Daniel, Dr. Li Yifei and Mr. Yan Haiting.

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