Global Sweeteners : INSIDE INFORMATION SUSPENSION OF PRODUCTION OF JINZHOU DACHENG

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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 JINZHOU DACHENG

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 considering the poor sentiment of the sweeteners market in northeast China and the tightened working capital of the Group, the management of the Group has decided to suspend the production of 錦州大成食品發展有限公司 (Jinzhou Dacheng Food Development Co., Ltd.*) ("Jinzhou Dacheng"), an indirect wholly-owned subsidiary of the Company until the market conditions improve. Jinzhou Dacheng is principally engaged in the manufacture and sale of corn sweeteners.

As at 30 June 2019, according to the unaudited financial information of the Group, the turnover and net loss of Jinzhou Dacheng represented approximately 3.7% and 12.2% of the total turnover and net loss of the Group for the six months ended 30 June 2019, respectively.

The Board considers that the suspension is in the best interest of the Company and its shareholders as a whole as it could minimise operating cash outflow and secure resources for other core business activities of the Group. It is expected that the suspension would not have any material adverse effect on the financial position of the Group for the year ending 31 December 2019.

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Shareholders 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, 24 September 2019

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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