Shanghai Dasheng Agriculture Finance Technology : PASSING AWAY OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR

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(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock code: 1103)

PASSING AWAY OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of Shanghai Dasheng Agriculture Finance Technology Co., Ltd. (上海大生農業金融科技股份有限公司) (the "Company") was informed today that Mr. Zhou Jianhao, an independent non-executive director of the Company, the chairman of the Remuneration and Assessment Committee, a member of the Nomination Committee and a member of the Audit Committee, passed away due to ill health on 3 February 2020. The Company would like to express its deepest sadness and regret for Mr. Zhou's unexpected death. Mr. Zhou was a very diligent and proactive independent non-executive director of the Company who made a great contribution to the corporate governance practices of the Company and the Board's effective operations. The Board would like to express its gratitude for the contribution made by Mr. Zhou to the Company during his tenure and convey its sincere condolences to the family members of Mr. Zhou.

Following the passing of Mr. Zhou, the Board comprises six members, including three executive directors, one non-executive director and two independent non-executive directors, with the number of independent non-executive directors falling below the minimum number of three as required under Rule 3.10(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

In light of the vacancy in the positions of the Remuneration and Assessment Committee, the Board has appointed, with effect from 3 February 2020, (i) Mr. Yang Gaoyu, an independent non-executive director of the Company to be the chairman of the Remuneration and Assessment Committee; and (ii) Mr. Lu Tingfu, a non-executive director of the Company to be a member of the Remuneration and Assessment Committee.

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In this regard, the Company will use its best endeavour to identify a suitable candidate as an independent non-executive director of the Company to fill the vacancy as soon as practicable with the relevant appointment to be made within three months from the date of passing of Mr. Zhou as required under Rule 3.10(1) of the Listing Rules, and will make further announcement upon such appointment in accordance with the Listing Rules.

By order of the Board

Shanghai Dasheng Agriculture Finance Technology Co., Ltd.

Lan Huasheng

Chairman

Shanghai, PRC, 4 February 2020

As at the date of this announcement, the Board comprises three executive directors: Mr. Lan

Huasheng, Mr. Wang Liguo and Mr. Yan Zebin; one non-executive director: Mr. Lu Tingfu; and two

independent non-executive directors: Mr. Chung Cheuk Ming and Mr. Yang Gaoyu.

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