China Renaissance : CESSATION TO ACT AS CO-CHIEF FINANCIAL OFFICER AND RE-DESIGNATION

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CHINA RENAISSANCE HOLDINGS LIMITED

華 興 資 本 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1911)

CESSATION TO ACT AS CO-CHIEF FINANCIAL OFFICER

AND RE-DESIGNATION

The board (the "Board") of directors (the "Directors") of China Renaissance Holdings Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr. Wang Xinwei ("Mr. Wang") has ceased to act as co-chief financial officer of the Group and has been re-designated as a senior consultant of the Group due to personal reasons.

Mr. Wang has confirmed that he has no disagreement with the Board and there are no matters related to his re-designation which need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

Following Mr. Wang's re-designation, Mr. Cui Qiang, a co-chief financial officer of the Group, will remain as the chief financial officer of the Group, mainly responsible for the overall financial management of the Group.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Wang for his contributions to the Group during his term of office and look forward to Mr. Wang's continued supports to the Group's development in his new role.

By order of the Board

China Renaissance Holdings Limited

Bao Fan

Chairman of the Board and Executive Director

Hong Kong, December 15, 2019

As at the date of this announcement, the Board comprises Mr. Bao Fan as Chairman and Executive Director, Mr. Xie Yi Jing and Mr. Du Yongbo as Executive Directors, Mr. Neil Nanpeng Shen, Mr. Li Shujun and Mr. Li Eric Xun as Non-executive Directors, and Ms. Yao Jue, Mr. Ye Junying and Mr. Zhao Yue as Independent Non-executive Directors.