Sheng Yuan : RESIGNATION OF EXECUTIVE DIRECTOR

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(incorporated in Bermuda with limited liability)

(Stock Code: 851)

RESIGNATION OF EXECUTIVE DIRECTOR

The board (the ''Board'') of directors (the ''Directors'') of Sheng Yuan Holdings Limited (the ''Company'') announces that Mr. Qiu Bin (''Mr. Qiu'') has resigned as an executive Director with effect from 5 February 2020 in order to focus on his other personal development. Mr. Qiu has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the holders of securities of the Company.

The Board wishes to express its sincere gratitude to Mr. Qiu for his valuable contribution to the Company during his tenure of office.

By Order of the Board

Sheng Yuan Holdings Limited

Liu Yang

Chairman

Hong Kong, 5 February 2020

As at the date of this announcement subsequent to the above resignation, the Board consists of Mr. Liu Yang and Mr. Zhou Quan (all being executive Directors), Mr. Mu Hao and Mr. Zhao Yun (all being non-executive Directors), Ms. Fang Fang, Mr. Fung Tze Wa and Mr. An Dong (all being independent non-executive Directors).