China Cinda Asset Management : ANNOUNCEMENT ON COMPLETION OF ISSUANCE OF FINANCIAL BONDS

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China Cinda Asset Management Co., Ltd.

中國信達資產管理股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 01359 and 04607 (Preference Shares))

ANNOUNCEMENT ON COMPLETION OF ISSUANCE OF

FINANCIAL BONDS

Reference is made to the announcement of China Cinda Asset Management Co., Ltd. (the "Company") dated February 27, 2020 in relation to the approval for and issuance of financial bonds.

The Company completed the issuance of financial bonds in an aggregate amount of RMB10 billion (the "Bond") in the national interbank bond market in China on March 3, 2020.

As of March 5, 2020, all proceeds from the issuance of the Bond have been credited to the Company's account. The proceeds from the issuance of the Bond will be mainly used for distressed asset management business including acquisitions and disposals of distressed assets and debt- to-equity swap and other purposes approved by the competent authorities in accordance with applicable laws and subject to approvals from regulatory authorities as well as relevant industrial policies of the PRC.

By order of the Board

China Cinda Asset Management Co., Ltd.

ZHANG Zi'ai

Chairman

Beijing, the PRC

March 5, 2020

As at the date of this announcement, the Board of the Company consists of Mr. ZHANG Zi'ai and Mr. ZHANG Weidong as executive directors, Mr. HE Jieping, Mr. XU Long, Mr. ZHANG Guoqing and Mr. LIU Chong as non-executive directors, and Mr. ZHU Wuxiang, Mr. SUN Baowen, Mr. LU Zhengfei and Mr. LAM Chi Kuen as independent non-executive directors.