Hilong : Voluntary Announcement Proposed Share Repurchase

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 disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Hilong Holding Limited

海隆控股有限公 司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1623) VOLUNTARY ANNOUNCEMENT PROPOSED SHARE REPURCHASE

This is a voluntary announcement made by Hilong Holding Limited (the "Company").

The board (the "Board") of directors (the "Directors") of the Company has been granted by the shareholders of the Company (the "Shareholders") at the annual general meeting of the Company held on 23 June 2017 (the "2017 AGM") the general mandate to repurchase (the "Repurchase Mandate") up to 169,643,860 ordinary shares of the Company (the "Shares"), being 10% of the total number of issued Shares as at the date of the 2017 AGM, on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

In light of the recent volatility of the price of the Shares, the Board believes that the current Share price does not reflect a fair valuation of the Company and intends to exercise its powers under the Repurchase Mandate to repurchase up to 16,944,386 Shares, representing approximately 1% of the total issued shares of the Company, in open market when appropriate from time to time (the "Proposed Share Repurchase"). The Board will ensure that the Company continues to satisfy the minimum public float requirement under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited before and after the Shares are repurchased pursuant to the Proposed Share Repurchase. The Company will subsequently cancel the repurchased Shares, if any. The Company intends to finance the Proposed Share Repurchase with its existing available cash reserves.

The Board believes that the Proposed Share Repurchase reflects the confidence of the Board and the management team in the long-term strategy and growth prospects of the Company and considers that the Proposed Share Repurchase is in the best interest of the Company and the Shareholders as a whole.

* For identification purposes only

After the completion of the aforesaid repurchase, the Company will determine whether to make further repurchase based on the then situation.

For and on behalf of the Board

Hilong Holding Limited ZHANG Jun

Chairman

29 August 2017

As at the date of this announcement, the executive directors of the Company are Mr. ZHANG Jun and Mr. WANG Tao (汪濤 ); the non-executive directors are Ms. ZHANG Shuman,

Mr. YUAN Pengbin, Mr. LI Huaiqi and Mr. YANG Qingli; and the independent non-executive directors are Mr. WANG Tao (王濤), Mr. WONG Man Chung Francis, Mr. LIU Haisheng and

Mr. SHI Zheyan.