Changshouhua Food : APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

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.

CHANGSHOUHUA FOOD COMPANY LIMITED

長壽花食品股份有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1006)

APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

The Board of Directors (the "Board") of Changshouhua Food Company Limited (the "Company") announces the appointment of Somerley Capital Limited as the independent financial adviser to the Independent Board Committee in accordance with the Takeovers Code.

Reference is made to the joint announcement dated 7 September 2020 (the "Joint Announcement") issued by SanXing Trade Co., Ltd. and the Company in relation to, amongst other things, the Proposal. Unless otherwise defined in this announcement, terms defined in the Joint Announcement have the same meanings when used in this announcement.

The Board announces that Somerley Capital Limited, a corporation licensed to carry out type 1 (dealing in securities) and type 6 (advising on corporate finance) regulated activities under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), has been appointed as the independent financial adviser to advise the Independent Board Committee in connection with the Proposal and the Scheme, and such appointment has been approved by the Independent Board Committee pursuant to Rule 2.1 of the Takeovers Code.

The letter of advice from the Independent Financial Adviser to the Independent Board Committee and the recommendations of the Independent Board Committee will be included in the Scheme Document to be despatched to the Shareholders in due course.

WARNING: Shareholders and potential investors of the Company should be aware that the implementation of the Proposal and the Scheme are subject to the Conditions being fulfilled or waived, as applicable, and thus the Proposal may or may not be implemented, and the Scheme may or may not become effective. Shareholders and potential investors of the Company should therefore exercise caution when dealing in the securities of the Company. Persons who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional advisers.

1

On behalf of the Board

Changshouhua Food Company Limited

Wang Mingxing

Chairman

Hong Kong, 11 September 2020

As at the date of this announcement, the Board consists of five executive Directors, namely Mr. Wang Mingxing, Mr. Wang Mingfeng, Mr. Wang Mingliang, Mr. Cheng Wenming and Mr. Ren Zaishun, and three independent non-executive Directors, namely Mr. Wang Aiguo, Mr. Wang Ruiyuan and Mr. Liu Shusong.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statement in this announcement misleading.

2