Global Sweeteners : INSIDE INFORMATION SUSPENSION OF PRODUCTION OF DIHAO FOODSTUFF

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GLOBAL SWEETENERS HOLDINGS LIMITED

大 成 糖 業 控 股 有 限 公 司 *

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 03889)

INSIDE INFORMATION

SUSPENSION OF PRODUCTION OF DIHAO FOODSTUFF

This announcement is made by Global Sweeteners Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to announce that due to the impact of the recent outbreak of the Severe Respiratory Disease associated with a Novel Infectious Agent ("SRD") across the People's Republic of China (the "PRC"), the production operation of 長春帝豪食品發展有限公司 (Changchun Dihao Foodstuff Development Co., Ltd.*) ("Dihao Foodstuff"), an indirect wholly-owned subsidiary of the Company, in Xinglongshan of Changchun in the PRC has been suspended. Such suspension was mainly due to the lack of supply of principal materials (corn starch either in powder or slurry form), given that (i) the production operation of 長春大成生物科技開發有限公司 (Changchun Dacheng Bio-Tech Development Co., Ltd.*) ("Dacheng Bio-Tech"), an indirect wholly-owned subsidiary of Global Bio-chem Technology Group Company Limited and from whom Dihao Foodstuff purchases corn starch in slurry form under a pipeline transfer system, has been suspended and its existing inventory level is not sufficient to support the production operation of Dihao Foodstuff; and (ii) the management of the Group considers that it is not cost efficient for Dihao Foodstuff to purchase corn starch in slurry or powder form from independent third parties. Dihao Foodstuff is principally engaged in the manufacture and sale of corn sweeteners.

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Despite the temporary suspension of the production operation of Dihao Foodstuff, the sales operation of Dihao Foodstuff remains unaffected up to the date of this announcement. According to the unaudited financial information of the Group for the twelve months ended 31 December 2019, the revenue and net loss of Dihao Foodstuff represented approximately 36.0% and 11.3% of the Group's total revenue and net loss, respectively.

The Board will continue to monitor closely the development of the SRD outbreak, market conditions, the availability of raw material as well as the financial conditions of the Group and will ensure the production operation of Dihao Foodstuff to resume as soon as possible to the extent practicable. Based on the information currently available, the Board considers the suspension of production as stated in this announcement is temporary and would not expect there will be any material adverse effect on the financial position of the Group for the year ending 31 December 2020 as the suspension is expected to reduce operating cash outflow.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Global Sweeteners Holdings Limited

Zhang Zihua

Acting Chairman

Hong Kong, 10 February 2020

As at the date of this announcement, the Board comprises one executive Director, namely, Mr. Zhang Zihua; and three independent non-executive Directors, namely, Mr. Fong Wai Ho, Mr. Lo Kwing Yu and Mr. Wen Xia.

• For identification purpose only

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