Debt - Listing Confirmation::US$220,000,000 15% Bonds due 2021

1. The Bonds will be listed and quoted in the Bond Market with effect from 9.00 a.m., Thursday, 16 January 2020.

2. The short name of the Bonds is Mingfa b15%210113S and the ISIN Code is HK0000555653.

The letter 'S' denotes that trading of the Bonds is restricted to the persons specified in Sections 274 and 275 of the Securities and Futures Act (the 'SFA').

3. The Bonds will be quoted and traded in US Dollar (US$). The Bonds will be in denomination of US$200,000 and integral multiples of US$1,000. The Bonds will be traded in a minimum board lot size of US$200,000.

4. The issue date of the Bonds is 15 January 2020.

5. The name and address of the Principal Paying Agent is as follows:

Haitong International Securities Company Limited
22/F, Li Po Chun Chambers
189 Des Voeux Road Central
Hong Kong

6. The Lead Managers/Bookrunners of the Bonds is Head & Shoulders Securities Limited.

7. Please refer to the Issuer's offering documents for complete details before trading.