Shougang Concord Grand : CHANGE OF AUDITOR

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首 長 四 方 （ 集 團 ） 有 限 公 司 *

SHOUGANG CONCORD GRAND (GROUP) LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 730)

CHANGE OF AUDITOR

This announcement is made by the board of directors (the "Board") of Shougang Concord Grand (Group) Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board announces that Deloitte Touche Tohmatsu ("Deloitte") has resigned as the auditor of the Company with effect from 12 December 2019 after taking into account factors that include the level of audit fees and the professional risk associated with the audit for the financial year ending 31 December 2019.

The Board further announces that, PricewaterhouseCoopers has been appointed as the auditor of the Company with effect from 12 December 2019 to fill the casual vacancy following the resignation of Deloitte and to hold office until the conclusion of the next annual general meeting of the Company.

Deloitte has confirmed in writing that there are no matters connected with its resignation that need to be brought to the attention of the shareholders of the Company. The Company confirmed that there are no other matters in respect of the change of auditor that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to express its sincere gratitude to Deloitte for its professional services and support rendered to the Group in the past years.

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By Order of the Board

Shougang Concord Grand (Group) Limited

Xu Liang

Chairman

Hong Kong, 12 December 2019

As at the date of this announcement, the Board comprises Mr. Xu Liang (Chairman); Mr. Su Guifeng (Managing Director); Ms. Li Jing (Executive Director); Mr. Liu Dongsheng (Non-executive Director); Ms. You Wenli (Non-executive Director); Mr. Huang Donglin (Non-executive Director); Mr. Tam King Ching, Kenny (Independent Non-executive Director); Mr. Yip Kin Man, Raymond (Independent Non-executive Director); Mr. Fei Jianjiang (Independent Non-executive Director) and Mr. Wan Siu Wah, Wilson (Independent Non-executive Director).

• For identification purpose only

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