Haitong UniTrust International Leasing : ANNOUNCEMENT - ESTABLISHMENT OF WHOLLY-OWNED COMMERCIAL FACTORING SUBSIDIARY

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海通恆信國際融資租賃股份有限公司

Haitong Unitrust International Financial Leasing Co., Ltd.

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

(Stock code: 1905)

ANNOUNCEMENT

ESTABLISHMENT OF WHOLLY-OWNED COMMERCIAL

FACTORING SUBSIDIARY

The board of directors (the "Board") of Haitong Unitrust International Financial Leasing Co., Ltd. (the "Company", together with its subsidiaries, the "Group") hereby announces that the Board has considered and approved the Proposal regarding the Establishment of a Commercial Factoring Subsidiary (the "Proposal"). Pursuant to the Proposal, to further facilitate the professional development of the factoring business of the Group, the Company proposes the establishment of

a wholly-owned commercial factoring subsidiary, Haitong Unitrust Commercial Factoring Co., Ltd.* ( 海通恒信商業保理有限公司 ) ("Haitong Unitrust Commercial Factoring", temporarily

named and subject to the final approval of the regulatory authority and the registration authority for industry and commerce). In addition, the Board has authorized the management to handle the administrative procedures for industry and commerce and all other related matters regarding the establishment of Haitong Unitrust Commercial Factoring in accordance with the law.

As the establishment of Haitong Unitrust Commercial Factoring falls within the scope of authorization of the Board by the shareholders' general meeting of the Company, separate approval from the shareholders' general meeting of the Company is not required. The establishment of Haitong Unitrust Commercial Factoring does not constitute a notifiable transaction or connected transaction of the Company under Chapter 14 or Chapter 14A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

By order of the Board

Haitong Unitrust International Financial Leasing Co., Ltd.

DING Xueqing

Chairman

Shanghai, the PRC

August 28, 2020

As at the date of this announcement, the Chairman and executive Director of the Company is Mr. DING Xueqing; the executive Director is Ms. ZHOU Jianli; the non-executive Directors are Mr. REN Peng, Ms. HA Erman, Mr. LI Chuan, Mr. WU Shukun and Mr. ZHANG Shaohua; and the independent non-executive Directors are Mr. JIANG Yulin, Mr. YAO Feng, Mr. YO Shin, Mr. ZENG Qingsheng, Mr. WU Yat Wai and Mr. YAN Lixin.

*  For identification purpose only