Red Star Macalline : POLL RESULTS OF THE 2021 FIRST EXTRAORDINARY GENERAL MEETING HELD ON 19 MARCH 2021

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Red Star Macalline Group Corporation Ltd.

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

(Stock Code: 1528)

POLL RESULTS OF THE 2021 FIRST EXTRAORDINARY

GENERAL MEETING HELD ON 19 MARCH 2021

Red Star Macalline Group Corporation Ltd. (the "Company") announces that, at the 2021 first extraordinary general meeting of the Company (the "EGM") held at Conference Center, 3/F, South Building, Block B, Red Star Macalline Headquarters, Lane 1466, Shenchang Road, Minhang District, Shanghai, the People's Republic of China (the "PRC") at 2:00 p.m. on Friday, 19 March 2021, all the proposed resolutions set out in the notice of the EGM and the supplemental notice of the EGM were passed by way of poll. For details of the resolutions considered at the EGM, the Shareholders may refer to the notice of the EGM dated 9 February 2021, the supplemental notice of the EGM dated 25 February 2021 and the circular of the EGM dated 25 February 2021 (the "Circular") of the Company. Unless otherwise defined in this announcement, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

As at the date of the EGM, the total number of Shares is 3,905,000,000 Shares (including 3,163,714,366 A Shares and 741,285,634 H Shares). No Shareholder was required to abstain from voting on the resolutions under the Listing Rules. There was no Share entitling the holder to attend the meeting and abstain from voting in favour of the resolutions under Rule 13.40 of the Listing Rules. None of the Shareholders have stated their intention in the Circular to vote against or to abstain from voting on any of the resolutions proposed at the EGM. Computershare Hong Kong Investor Services Limited, the H Share registrar of the Company, acted as the scrutineer for vote-taking at the EGM. The convening of the EGM was in compliance with the Company Law of the People's Republic of China and the Articles of Association.

I. CONVENING OF THE MEETING (1) EGM

The total number of Shares entitling the holders to attend and vote on the resolutions at the EGM was 3,905,000,000 Shares. The total number of Shares with voting rights represented by the Shareholders attending the EGM in person or by proxy was 3,077,107,293 Shares, representing approximately 78.799163% of the total number of Shares.

II. POLL RESULTS OF THE EGM

The poll results in respect of the respective resolutions at the EGM are set out below:

NO.	ORDINARY RESOLUTIONS	NUMBER OF VOTES (%)
FOR	AGAINST	ABSTAIN
(1)	The resolution in respect of the third phase of the Employee Stock Ownership Plan (draft) of Red Star Macalline Group Corporation Ltd. and its extracts.	332,034,450 (95.997966%)	5,303,946 (1.533480%)	8,538,151 (2.468554%)
(2)	The resolution in respect of measures for management of the third phase of the Employee Stock Ownership Plan of Red Star Macalline Group Corporation Ltd.	332,034,450 (95.997966%)	5,303,946 (1.533480%)	8,538,151 (2.468554%)
(3)	The resolution in respect of authorization to the Board to handle matters in connection with the third phase of the Employee Stock Ownership Plan of the Company by the general meeting.	332,034,450 (95.997966%)	5,303,946 (1.533480%)	8,538,151 (2.468554%)
NO.	ORDINARY RESOLUTION EFFECTED BY CUMULATIVE	NUMBER OF VOTES (%)
FOR	AGAINST	ABSTAIN
(4)	Resolution on the addition of Mr. CHEN Zhaohui as a non-executive Director of the fourth session of the Board of the Company.	3,065,639,219 (99.627310%)

Note: Under the cumulative voting system, "Against" and "Abstain" votes will be considered invalid.

As more than half of the votes from the Shareholders (including their proxies) attending the EGM were cast in favour of the ordinary resolutions numbered (1) to (3), these resolutions were duly passed as ordinary resolutions.

As more than half of the votes from the Shareholders (including their proxies) attending the EGM were cast in favour of the ordinary resolution numbered (4) effected by cumulative voting system, the resolution was duly passed as an ordinary resolution.

By Order of the Board

Red Star Macalline Group Corporation Ltd.

GUO Binghe

Vice Chairman

Shanghai, the PRC

19 March 2021

As at the date of this announcement, the executive Directors of the Company are CHE Jianxing, GUO Binghe, CHE Jianfang and JIANG Xiaozhong; the non-executive Directors are CHEN Shuhong, JING Jie, XU Hong, LIU Jin and CHEN Zhaohui; and the independent non-executive Directors are QIAN Shizheng, LEE Kwan Hung, Eddie, WANG Xiao, ZHAO Chongyi and QIN Hong.