Shoucheng : DECLARATION OF SPECIAL DIVIDEND AND CLOSURE OF REGISTER OF MEMBERS

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DECLARATION OF SPECIAL DIVIDEND

AND

CLOSURE OF REGISTER OF MEMBERS

Reference is made to the announcement of Shoucheng Holdings Limited (the "Company") dated 31 January 2022 in relation to the notice of meeting of the board of directors (the "Board") of the Company for considering the payment of a special dividend.

The Board is pleased to announce that at the Board meeting held on 15 February 2022, having considered the business, financial and cash flow position of the Company and its subsidiaries as well as the cash proceeds received from the recent completion of the Revised Proposed Restructuring (as defined in the announcement of the Company dated 27 January 2022), the Board has resolved to declare a special dividend in the aggregate amount of HK$200 million; with the first tranche of the Special Dividend in the amount of HK$100 million and second tranche of the Special Dividend in the amount of HK$100 million (the "Special Dividend"). Based on 7,291,017,194 ordinary shares of the Company in issue, the aforesaid Special Dividend would amount to, in aggregate, HK2.74 cents per ordinary share; with the first tranche of the Special Dividend in the amount of HK1.37 cents per ordinary share and second tranche of the Special Dividend in the amount of HK1.37 cents per ordinary share.

The Special Dividend is payable in two tranches, and there will be two record dates (the "Record Date(s)") to determine entitlements to the Special Dividend.

Dividend Payment Dates

The first tranche of the Special Dividend is payable, in cash, on 14 March 2022 to the shareholders of the Company (the "Shareholder(s)") whose names appear on the register of members of the Company on 3 March 2022. The second tranche of the Special Dividend is payable, in cash, on 31 October 2022 to the Shareholders whose names appear on the register of members of the Company on 20 October 2022.

Book Closure Dates

For the purpose of determining the entitlements of the Shareholders to each of the two tranches of the Special Dividend, the register of members of the Company will be closed from 2 March 2022 to 3 March 2022 (both days inclusive) (in respect of the first tranche of the Special Dividend) and from

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19 October 2022 to 20 October 2022 (both days inclusive) (in respect of the second tranche of the Special Dividend), during which period no transfer of shares of the Company will be registered.

In order for a Shareholder to qualify for the Special Dividend, all transfer forms accompanied by the relevant share certificates must be lodged with the Company's share registrar, Tricor Tengis Limited at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong for registration no later than 4:30 p.m. on 1 March 2022 (in respect of the first tranche of the Special Dividend) and/or 4:30 p.m. on 18 October 2022 (in respect of the second tranche of the Special Dividend).

If a Shareholder sells all of his/her Shares before the first Record Date (which relates to the first tranche of the Special Dividend), such Shareholder will not receive nor be entitled to any of the Special Dividend.

If a Shareholder sells all of his/her Shares after the first Record Date (which relates to the first tranche of the Special Dividend) but before the second Record Date (which relates to the second tranche of the Special Dividend), such Shareholder will receive or be entitled to the first tranche of the Special Dividend but not the second tranche of the Special Dividend.

If a Shareholder continues to hold all of his/her Shares up to and including the second Record Date, such Shareholder will receive and be entitled to receive both the first and second tranches of the Special Dividend.

By order of the Board

Shoucheng Holdings Limited

Zhao Tianyang

Chairman

Hong Kong, 15 February 2022

As at the date of this announcement, the Board comprises Mr. Zhao Tianyang (Chairman), Mr. Xu Liang, Mr. Li Wei (President) and Ms. Zhang Meng as Executive Directors; Mr. Li Hao (Vice Chairman), Mr. Liu Jingwei and Mr. Ho Gilbert Chi Hang as Non-executive Directors; Dr. Wang Xin, Mr. Choi Fan Keung Vic, Mr. Deng Yougao, Ms. Zhang Quanling and Ms. Zhuge Wenjing as Independent Non-executive Directors.

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