Hsin Chong : CANCELLATION OF LISTING

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.

HSIN CHONG GROUP HOLDINGS LIMITED

新昌集團控股有限公司

(provisional liquidators appointed) (for restructuring purposes only)

(Incorporated in Bermuda with limited liability)

(Stock Code: 00404)

CANCELLATION OF LISTING

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

Reference is made to the Company's announcements dated 30 July 2019, 20 August 2019 and 14 November 2019 and 20 December 2019 (collectively, the "Announcements"). Unless otherwise specified, capitalized terms used in this announcement shall have the same meaning as those defined in the Announcements.

CANCELLATION OF LISTING

On 19 August 2019, the Company requested for a review of the Delisting Decision and the review hearing of the Delisting Decision was held on 11 December 2019. On 17 December 2019, the Listing Review Committee decided to uphold the Delisting Decision and by the letter from the Stock Exchange dated 18 December 2019, the Company was informed that the Company's listing should be cancelled under Rule 6.01A. Accordingly, the Stock Exchange will cancel the Company's listing with effect from 9:00 am on 31 December 2019. The Company is still seeking advice from professional parties and considering available options.

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CONSEQUENCES TO THE SHAREHOLDERS

All shareholders of the Company and investors should note that after 30 December 2019, being the last day of listing of the Shares on the Stock Exchange, whilst the share certificates of the Shares shall remain valid, the Shares will not be listed on, and will not be tradeable on, the Stock Exchange. Thereafter, the Company will no longer be subject to the Listing Rules.

Shareholders who have any queries about the implications of the cancellation of the Company's listing on the Stock Exchange are advised to obtain appropriate professional advice.

For and on behalf of

Hsin Chong Group Holdings Limited

(provisional liquidators appointed) (for restructuring purposes only)

Osman Mohammed Arab

Mathew Conner Clingerman

Lai Wing Lun

Joint Provisional Liquidators

who act without personal liability

Hong Kong, 30 December 2019

As at the date of this announcement, the Board comprises Mr. LIN Zhuo Yan as the Non- executive Chairman and Non-executive Director; Ir Dr Joseph CHOI Kin Hung (Chief Executive Officer) and Mr. Wilfred WU Shek Chun (Chief Risk Officer) as Executive Directors; Mr. YAN Jie and Mr. CHEN Lei as Non-executive Directors. All powers of the directors ceased pursuant to the order made by Bermuda Court on 1 November 2019.

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