Richly Field China Development : INSIDE INFORMATION UPDATE ON WINDING UP PETITION

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.

RICHLY FIELD CHINA DEVELOPMENT LIMITED

裕 田 中 國 發 展 有 限 公 司

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(stock code: 313)

INSIDE INFORMATION

UPDATE ON WINDING UP PETITION

This announcement is made by Richly Field China Development Limited (the "Company"), pursuant to the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rules 13.09(1), 13.09(2)(a) and 13.25(1)(b) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

References are made to the announcements published by the Company dated 29 August 2019,

4 September 2019 and 1 October 2019 (the "Announcements"). Unless the context otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

The Company announces that (i) by a Consent Summons dated 16 October 2019, the Company and the Petitioner applied to the Court for an adjournment of the hearing date of the Petition to 13 November 2019 at 9:30 a.m.; and (ii) by a notice dated 21 October 2019 from the Court, the Company was notified that the Court has granted the application for adjournment of the hearing date of the Petition to 13 November 2019 at 9:30 a.m..

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The Company will make further announcement(s) as and when appropriate.

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

By order of the Board

Richly Field China Development Limited

Li Yi Feng

Chairman and Chief Executive Officer

Hong Kong, 22 October 2019

As at the date of this announcement, the Board comprises two executive directors, namely Mr. Li Yi Feng (Chairman) and Mr. Chen Wei (Vice President) and three independent non- executive directors, namely Ms. Hsu Wai Man Helen, Mr. Wong Tak Chun and Mr. Xu Jinghong.

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