Shenzhen Hepalink Pharmaceutical : RE-ELECTION OF DIRECTORS OF THE FIFTH SESSION OF THE BOARD, RE-ELECTION OF SUPERVISORS OF THE FIFTH SESSION OF THE SUPERVISORY COMMITTEE AND AMENDMENT OF THE ARTICLES OF ASSOCIATION

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SHENZHEN HEPALINK PHARMACEUTICAL GROUP CO., LTD.

(深 圳 市 海 普 瑞 藥 業 集 團 股 份 有 限 公 司)

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

(Stock Code: 9989)

ANNOUNCEMENT

RE-ELECTION OF DIRECTORS OF THE FIFTH SESSION

OF THE BOARD

RE-ELECTION OF SUPERVISORS OF

THE FIFTH SESSION OF THE SUPERVISORY COMMITTEE

AND

AMENDMENT OF THE ARTICLES OF ASSOCIATION

A meeting of the board of directors (the "Board") of Shenzhen Hepalink Pharmaceutical Group Co., Ltd. (the "Company") was convened on July 31, 2020, at which, among others, the resolutions regarding (i) the re-election of directors of the fifth session of the Board and (ii) amendment of the articles of association of the Company (the "Articles of Association") were considered and approved. A meeting of the supervisory committee of the Company (the "Supervisory Committee") was also convened on July 31, 2020, at which, among others, a resolution regarding the re-election of supervisors of the fifth session of the Supervisory Committee was considered and approved.

The Board hereby announces that:

1. RE-ELECTIONOF DIRECTORS OF THE FIFTH SESSION OF THE BOARD

Pursuant to Article 139 of the Articles of Association, the Board shall be elected at general meetings for a term of three years, which is renewable upon re-election when it expires. The Board has considered and resolved on July 31, 2020 to re-elect Mr. Li Li ("Mr. Li"), Ms. Li Tan ("Ms. Li"), Mr. Shan Yu ("Mr. Shan"), Mr. Sun Xuan ("Mr. Sun") and Mr. Bu Haihua ("Mr. Bu") as non-independent directors of the fifth session of the Board, and Dr. Lu Chuan, Mr. Chen Junfa and Mr. Wang Zhaohui as independent non-executive directors of the fifth session of the Board.

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The director candidates are currently directors of the Company. They will officially assume office when the resolution on election of the fifth session of the Board is considered and approved at the 2020 third extraordinary general meeting of the Company (the "EGM"), at which the fifth session of the Board will be established, with a term of office of 3 years expiring when the term of the fifth session of the Board ends, subject to retirement by rotation and re-election at the general meetings pursuant to the Articles of Association.

The biographical details of the director candidates to be re-elected at the EGM will be disclosed in a circular to be despatched to the shareholders.

Save as disclosed in the prospectus of the Company dated June 24, 2020 (the "Prospectus"), none of the director candidates held any other positions of the Company or its subsidiaries, nor did they hold any directorships in any other public companies within the three years prior to the date of their appointments, of which the securities are listed on any securities market in Hong Kong or overseas and nor did they have other major appointments and professional qualifications.

To the best knowledge of the Company, save as disclosed in the Prospectus, the director candidates do not have any relationship with any other directors, senior management, substantial shareholders or controlling shareholders of the Company, and do not have any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and have not been subject to any disciplinary action by the China Securities Regulatory Commission (the "CSRC") or any other relevant authorities or The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange").

Save as disclosed in the Prospectus, there is no other information required to be disclosed pursuant to the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), nor are there any other matters that need to be brought to the attention of the shareholders of the Company, relating to the appointments of the director candidates.

The Company is of the view that Dr. Lu Chuan, Mr. Chen Junfa and Mr. Wang Zhaohui have satisfied the requirement of independence as set out in Rule 3.13 of the Listing Rules.

As at the date of this announcement, the Company has not entered into any service contract with the director candidates in relation to the appointment of directors to the fifth session of the Board. Upon approval of the appointment of the director candidates at the EGM, the Company will enter into appointment letters with the directors.

If appointed, the non-independent directors, namely Mr. Li, Ms. Li, Mr. Sun and Mr. Shan and Mr. Bu, will receive a remuneration comprising basic salary, discretionary bonus and statutory social security benefits from the Company, the amount of which will be determined in accordance with the Articles of Association and relevant regulations after taking into consideration of the assessment of the operating performance for the year. The Board has resolved that the remuneration of the independent non-executive directors of the fifth session of the Board shall be RMB100,000 per year (inclusive of taxes), which shall be paid monthly in accordance with the actual months of service. Expenses incurred by the independent non- executive directors in performing their duties, such as participating in required trainings and Board meetings, shareholders' meetings and committee meetings shall be reimbursed by the Company. The above remuneration policy of the independent non-executive directors is subject to the approval by the shareholders at the EGM.

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1. RE-ELECTIONOF SUPERVISORS OF THE FIFTH SESSION OF THE SUPERVISORY COMMITTEE

Pursuant to Article 184 of the Articles of Association, the supervisors who are persons other than employees' representatives of the Company shall be elected at general meetings for a term of three years, which is renewable upon re-election when it expires. The Supervisory Committee has considered and resolved to re-elect Mr. Zheng Zehui ("Mr. Zheng") and Ms. Tang Haijun ("Ms. Tang"), as candidates for the supervisors of the fifth session of the Supervisory Committee.

An ordinary resolution will be proposed at the EGM by Supervisory Committee to consider and approve the appointment of each supervisor candidate listed above.

Mr. Zheng and Ms. Tang are currently supervisors of the Company. They will officially assume office when the resolution on election of the candidates of supervisors of the fifth session of the Supervisory Committee is considered and approved at the EGM, at which the fifth session of the Supervisory Committee will be established, with a term of office of 3 years expiring when the term of the fifth session of the Supervisory Committee ends, subject to retirement by rotation and re-election at the general meetings pursuant to the Articles of Association.

The biographical details of the supervisor candidates to be re-elected at the EGM will be disclosed in a circular to be despatched to the shareholders.

Save as disclosed in the Prospectus, none of Mr. Zheng and Ms. Tang held any other positions of the Company or its subsidiaries, nor did they hold any directorships in any other public companies within the three years prior to the date of their appointments, of which the securities are listed on any securities market in Hong Kong or overseas and nor did they have other major appointments and professional qualifications.

To the best knowledge of the Company, save as disclosed in the Prospectus, Mr. Zheng and Ms. Tang do not have any relationship with any other directors, senior management, substantial shareholders or controlling shareholders of the Company, and do not have any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and have not been subject to any disciplinary action by the CSRC or any other relevant authorities or the Hong Kong Stock Exchange.

Save as disclosed in the Prospectus, there is no other information required to be disclosed pursuant to the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, nor are there any other matters that need to be brought to the attention of the shareholders of the Company, relating to the appointments of Mr. Zheng and Ms. Tang.

As at the date of this announcement, the Company has not entered into any service contract with the supervisor candidates in relation to the appointment of supervisors to the fifth session of the Supervisory Committee. Upon approval of the appointment of the supervisor candidates at the EGM, the Company will enter into appointment letters with the supervisors. The appointed supervisors will not be entitled to any remuneration from the Company in respect of their service as supervisors of the Company.

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The fifth session of the Supervisory Committee will consist of Mr. Zheng, Ms. Tang and one employee representative supervisor. The employee supervisor shall be democratically elected at the employee representatives' general meeting of the Company and the election is not subject to the shareholders' approval. The Company will publish an announcement when relevant resolution is passed by the employee representatives' general meeting and takes effect.

III. AMENDMENT OF THE ARTICLES OF ASSOCIATION

The Board proposes to amend to the Articles of Association as follows:

Existing Terms of	Proposed Amendments to
the Articles of Association	the Articles of Association
Article 51  Change of the register of	Article 51  Where laws, administrative
shareholders arising from share transfer	regulations, departmental rules, normative
shall not be registered within 30 days before	documents, the relevant stock exchange
convening of a Shareholders' general meeting	where the Company's shares are listed
or within 5 days prior to the record date for	or regulators stipulate on the period of
the purpose of dividend allocation by the	closure of the register of members prior
Company.	to a general meeting or the record date
	set by the Company for the purpose of
	distribution of dividends, such provisions
	shall prevail.

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Article 97A Shareholders' general meeting	Article 97  A Shareholders' general meeting
shall be convened by the Board of Directors,	shall be convened by the Board of Directors,
and chaired by the chairman of the Board.	and chaired by the chairman of the Board.
In the event that the chairman is incapable	In the event that the chairman is incapable
of performing or is not performing his/her	of performing or is not performing his/her
duties, the meeting shall be presided over by	duties, the meeting shall be presided over by
the vice chairman. In the event that the vice	the vice chairman. In the event that the vice
chairman is incapable of performing or is not	chairman is incapable of performing or is not
performing his/her duties, a director jointly	performing his/her duties, a director jointly
nominated by half or more of the directors	nominated by half or more of the directors
shall preside over the meeting.	shall preside over the meeting.
A Shareholders' general meeting convened	A Shareholders' general meeting convened
by the Supervisory Committee shall be	by the Supervisory Committee shall be
chaired by the chairman of the Supervisory	chaired by the chairman of the Supervisory
Committee. Where the chairman of the	Committee. Where the chairman of the
Supervisory Committee is incapable of	Supervisory Committee is incapable of
performing or is not performing his/her duties,	performing or is not performing his/her duties,
a supervisor jointly recommended by more	a supervisor jointly recommended by more
than one half of the supervisors shall chair the	than one half of the supervisors shall chair the
meeting.	meeting.
A Shareholders' general meeting convened by	A Shareholders' general meeting convened by
the shareholders themselves shall be chaired	the shareholders themselves shall be chaired
by a representative elected by the convener.	by a representative elected by the convener.
If for any reason the convener fails to elect	If for any reason the convener fails to elect
a chairperson, the shareholder (including	a chairperson, the shareholder (including
proxy thereof) holding the most voting shares	proxy thereof) holding the most voting shares
thereat shall chair the meeting.	thereat shall chair the meeting (other than
	HKSCC Nominees).
When a Shareholders' general meeting is
held and the chairperson violates the Articles	When a Shareholders' general meeting is
of Association or rules of procedure for	held and the chairperson violates the Articles
Shareholders' general meetings which makes	of Association or rules of procedure for
it difficult for the Shareholders' general	Shareholders' general meetings which makes
meeting to continue, a person may be elected	it difficult for the Shareholders' general
at the Shareholders' general meeting to act	meeting to continue, a person may be elected
as the chairperson, subject to the approval of	at the Shareholders' general meeting to act
more than half of the attending shareholders	as the chairperson, subject to the approval of
with voting rights.	more than half of the attending shareholders
	with voting rights.

Save for the aforementioned articles, the contents of other articles in the Articles of Association remain unchanged.

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The English version of the Articles of Association is an unofficial translation of the Chinese version. In the event of any inconsistency, the Chinese version shall prevail.

The proposed amendments to the Articles of Association are subject to the approval of the shareholders at the EGM by way of a special resolution.

IV. CIRCULAR

A circular containing, among other things, further details regarding the re-election of directors of the fifth session of the Board, the re-election of supervisors of the fifth session of the Supervisory Committee, the amendment of the Articles of Association and a notice of the EGM will be dispatched to the shareholders in due course.

By Order of the Board of Directors

Shenzhen Hepalink Pharmaceutical Group Co., Ltd.

Li Li

Chairman

Shenzhen, the PRC

July 31, 2020

As at the date of this announcement, the executive directors of the Company are Mr. Li Li, Ms. Li Tan, Mr. Shan Yu, Mr. Sun Xuan and Mr. Bu Haihua; and the independent non-executive directors of the Company are Dr. Lu Chuan, Mr. Chen Junfa and Mr. Wang Zhaohui.

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