Hong Kong Exchanges and Clearing : INSIDE INFORMATION IN RELATION TO CONVERTIBLE NOTES OF THE COMPANY IN THE PRINCIPAL AMOUNT OF HK$190,000,000

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA GREEN (HOLDINGS) LIMITED

中 國 綠色 食品 （ 控股 ） 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock code: 904)

INSIDE INFORMATION IN RELATION TO CONVERTIBLE NOTES OF THE COMPANY IN THE PRINCIPAL AMOUNT OF HK$190,000,000

This announcement is made by China Green (Holdings) Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

Reference is made to the Company's announcements dated 20 May 2016, 22 August 2016, 15 December 2016, 20 January 2017, 25 January 2017 and 17 February 2017 and the Company's circulars dated 8 July 2016 and 4 January 2017 in relation to, inter alia, issue and amendment to terms and conditions of the convertible notes of the Company in the aggregate principal amount of HK$190,000,000 (the "Convertible Notes") to Convoy Collateral Limited (the "Noteholder").

Pursuant to the terms and conditions of the Convertible Notes, the Convertible Notes are subject to redemption by the Company on 22 August 2019, being the date falling on the third anniversary of the date of the issue of the Convertible Notes.

The board (the "Board") of directors (the "Directors") of the Company announces that the Company is in discussion with the Noteholder through intermediaries to work out a repayment plan. As such, pursuant to the respective terms and conditions of the Convertible Notes, the foregoing constitutes a potential event of default under the Convertible Notes and default interest will accrue on the outstanding amount to the Noteholder.

The Company will keep its shareholders informed of any significant developments and other matters by way of further announcement(s) as and when appropriate.

- 1 -

Shareholders of the Company and potential investors should be aware that a default in payment of the Convertible Bonds may trigger cross-default and other provisions of some outstanding loans and other indebtedness of the Group. The outcome of the discussion between the Company and the Noteholder is not known at this stage and there can be no assurance that the discussion with the Noteholder will lead to a proposal acceptable to the Noteholder or that the discussion with the Noteholder can be progressed to any positive conclusion. Shareholders of the Company and potential investors should therefore exercise caution when dealing in the securities of the Company.

By Order of the Board

China Green (Holdings) Limited

Sun Shao Feng

Chairman

Hong Kong, 22 August 2019

As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Sun Shao Feng (Chairman and Chief Executive Officer) , Mr. Wang Jinhuo, Mr. Liu Yuk Ming and Mr. Shum Wan Wah, Walter; and three independent non-executive Directors, namely Mr. Wei Xiongwen, Mr. Hu Ji Rong and Mr. Guo Zebin.

- 2 -