E Commodities : EARLY REDEMPTION OF CONVERTIBLE BONDS

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.

E-COMMODITIES HOLDINGS LIMITED

(Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 1733)

EARLY REDEMPTION OF CONVERTIBLE BONDS

Reference is made to the announcements of E-Commodities Holdings Limited (the "Company", together with the subsidiary, the "Group") dated 2 June, 14 August, 15 September, 8 November, 9 November 2017, 9 July, 21 September 2018 and 25 September 2019 in relation to, among other things, the issue of the Bonds in an aggregate principal amount of US$40,000,000 due 13 September 2022 (the "Announcements"), the circulars of the Company dated 6 July 2017 and 15 August 2017 (the "Circular") and the EGM poll results announcements dated 24 July 2017 and 6 September 2017. Capitalised terms used in this announcement shall bear the same meanings as those defined in the Circulars and Announcements unless the context requires otherwise.

As at the date of this announcement, the total outstanding principal amount of the Bonds was US$30,000,000. At the request of the Company, parties agreed the early redemption of the Bonds by the Company after friendly consultation between the Company and the Bondholder. The Company has received the redemption notice from the Bondholder, pursuant to which, the Company redeemed the outstanding Bonds in full on 14 August 2020 together with, among others, the accrued and unpaid interest thereon (the "Early Redemption"). The total Redemption Amount was funded by the Company's internal resources. Following the Early Redemption, there will be no principal amount of the Bonds outstanding and no Bonds have been or will be converted into shares of the Company.

The Directors consider that the Early Redemption could improve its gearing ratio and optimize the corporate capital structure. Therefore, the Directors are of the view that the Early Redemption is in the interest of the Company and its shareholders as a whole.

- 1 -

Upon the completion of the Early Redemption, the Bonds will be fully cancelled and the Company will be discharged from all of the obligations under and in respect of the Bonds. In addition, the Share Charges and Subsidiary Guarantee in relation to the Bonds will be released and discharged accordingly.

By Order of the Board

E-Commodities Holdings Limited

Cao Xinyi

Chairman

Hong Kong, 14 August 2020

As at the date of this announcement, the executive directors of the Company are Ms. Cao Xinyi, Mr. Wang Yaxu, Mr. Li Jianlou and Ms. Di Jingmin; the non-executive director of the Company is Mr. Guo Lisheng; and the independent non-executive directors of the Company are Mr. Ng Yuk Keung, Mr. Wang Wenfu and Mr. Gao Zhikai.

- 2 -