China Saite : Announcements and Notices - Further Announcement Major Transaction Subscription for Shares in the Ipo of Shenwan Hongyuan Group Co., Ltd.

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CHINA SAITE GROUP COMPANY LIMITED

中 國 賽 特 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 153)

FURTHER ANNOUNCEMENT

MAJOR TRANSACTION

SUBSCRIPTION FOR SHARES IN THE IPO OF

SHENWAN HONGYUAN GROUP CO., LTD.

Reference is made to the announcement of the Company dated 15 May 2019 (the ''Announcement'') in respect of the proposed subscription of Investor Shares in the IPO of Shenwan Hongyuan. Unless otherwise defined, the capitalized terms used herein shall have the same meaning as defined in the Announcement.

The Company wishes to provide certain status updates relating to the proposed Transaction. The Company is liaising with the Joint Representatives that the completion of the Transaction shall be postponed to a later date to allow the Company to obtain shareholders' approval of the Transaction at an extraordinary general meeting pursuant to Chapter 14 of the Listing Rules. The Company expects that the completion of the Transaction shall take place no earlier than 25 July 2019.

The Company will make further announcement(s) as required under the Listing Rules as and when appropriate.

Shareholders and other investors should exercise caution when dealing in the Shares or other securities of the Company.

By order of the Board

China Saite Group Company Limited

Jiang Jianqiang

Chairman

Hong Kong, 17 May 2019

As at the date of this announcement, the executive directors of the Company are Mr. JIANG Jianqiang, Mr. SHAO Xiaoqiang and Mr. XU Fanghua; and the independent non-executive directors are Mr. XU Jiaming, Mr. LUK Chi Shing and Mr. WU Zhongxian.