Fullshare : ANNOUNCEMENT COMPLETION OF DISCLOSEABLE TRANSACTION IN RELATION TO THE SALE OF UP TO 3.58% OF ZALL SHARES BY WAY OF PLACING

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Fullshare Holdings Limited

豐盛控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 00607)

ANNOUNCEMENT

COMPLETION OF DISCLOSEABLE TRANSACTION

IN RELATION TO THE SALE OF UP TO 3.58% OF

ZALL SHARES BY WAY OF PLACING

Reference is made to the announcement of Fullshare Holdings Limited (the "Company") dated 5 June 2020 in relation to the sale of up to 3.58% of Zall Shares by way of placing (the "Announcement"). Unless otherwise specified, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

The Board is pleased to announce that all the Conditions have been fulfilled and the Final Completion took place on 31 July 2020 in accordance with the terms and conditions of the Placing Agreement. Following the Final Completion, an aggregate of 422,000,000 Zall Placing Shares (which represent approximately 3.58% of the total issued share capital of Zall as at the date of this announcement) have been successfully placed to the Placees at the Placing Price of HK$0.78 per Zall Placing Share. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, the Placees are Independent Third Parties.

The gross proceeds from the Placing amounted to approximately HK$329,160,000 and the net proceeds amounted to approximately HK$328,475,000 (after deduction of placing commission and other related expenses). The Company intends to apply the net proceeds for loan principal and interest payment of the Group, operating/working capital and other future investment opportunities of the Group as disclosed in the Announcement.

Immediately after the Final Completion, the Company through the Vendor holds 587,453,000 Zall Shares, representing approximately 4.99% of the total issued share capital of Zall.

By order of the Board

Fullshare Holdings Limited

Ji Changqun

Chairman

Hong Kong, 31 July 2020

As at the date of this announcement, the executive Directors are Mr. Ji Changqun, Ms. Du Wei and Mr. Shen Chen; and the independent non-executive Directors are Mr. Lau Chi Keung, Mr. Chow Siu Lui and Mr. Tsang Sai Chung.