Daqing Dairy : VOLUNTARY ANNOUNCEMENT CONVERSION OF CONVERTIBLE BONDS

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LONGHUI INTERNATIONAL HOLDINGS LIMITED

龍 輝 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1007)

VOLUNTARY ANNOUNCEMENT

CONVERSION OF CONVERTIBLE BONDS

This is a voluntary announcement made by Longhui International Holdings Limited (the ''Company'').

References are made to the announcement of the Company dated 7 August 2017 and the circular of the Company dated 9 May 2018 (the ''Circular'') in relation to, among others, the issue of 5-year zero coupon convertible bonds in the aggregate principal amount of HK$129,470,312.50 (the ''Convertible Bonds'') by the Company. Capitalised terms used herein shall have the same meanings as defined in the Circular unless the context otherwise requires.

On 12 September 2019, the Company received a conversion notice from the holding vehicle of Vendor I exercising its right to convert all of the Convertible Bonds issued in its name at the direction of Vendor I in the principal amount of HK$121,248,947.605 into ordinary shares of the Company (the ''Shares''). Based on the conversion price of HK$0.1025 per Share, a total of 1,182,916,562 Shares (the ''Conversion Shares'') were allotted and issued by the Company to the holding vehicle of Vendor I on 16 September 2019.

Immediately after the allotment and issue of the Conversion Shares, the issued share capital of the Company has been increased from 5,190,685,875 Shares to 6,373,602,437 Shares. The 1,182,916,562 Conversion Shares represent: (a) approximately 22.79% of the issued share capital immediately before the allotment and issue of the Conversion Shares; and (b) approximately 18.56% of the issued share capital as enlarged by the allotment and issue of the Conversion Shares.

By order of the Board

Longhui International Holdings Limited

Hung Shui Chak

Chairman and executive Director

Hong Kong, 16 September 2019

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As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Hung Shui Chak, Mr. So Kam Chuen, Mr. Yuan Mingjie and Mr. Chen Jun; and three independent non-executive Directors, namely Mr. Ha Kee Choy Eugene, Mr. Chan Chun Yiu Thomas and Mr. Tam Bing Chung Benson.

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