China Huirong Financial : Voluntary Announcement – Signing of Strategic Cooperation Agreement with Suzhou Asset Management Co., Ltd. 2019-05-23

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CHINA HUIRONG FINANCIAL HOLDINGS LIMITED

中 國 匯 融 金 融 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1290)

VOLUNTARY ANNOUNCEMENT

SIGNING OF STRATEGIC COOPERATION AGREEMENT WITH

SUZHOU ASSET MANAGEMENT CO., LTD.

This announcement is made by China Huirong Financial Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') on a voluntary basis to inform the shareholders of the Company and potential investors of the latest business development of the Group.

BACKGROUND

The Group is dedicated to provide diversified financing services including secured loans, credit loans, online lending information intermediary services to its customers and to engage in investment business.

The Group operates in Suzhou and the four county-level cities that are governed by the Suzhou city government, or the Greater Suzhou Area, which is the most economically advanced region in Jiangsu Province. The Group has expanded its business into Sichuan, Anhui and Hubei Provinces by establishing branches in Chengdu, Hefei and Wuhan.

SIGNING OF STRATEGIC COOPERATION AGREEMENT WITH SUZHOU ASSET MANAGEMENT CO., LTD.

On 21 May 2019, the Company and Suzhou Asset Management Co., Ltd. (''SZAMC'') signed a strategic cooperation agreement, pursuant to which the Company and SZAMC agreed to explore future cooperation opportunities together, e.g. the acquisition by SZAMC of the distressed assets used as collateral of the short-term loans provided by us, and the establishment of bridge loan fund.

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SZAMC, with a registered capital of RMB2 billion, is an influential state-owned financial assets management institution in Jiangsu Province, which specializes on acquisition, entrusted operation and management, investment and disposal of financial institutions and distressed assets.

By Order of the Board

China Huirong Financial Holdings Limited

WU Min

Chairman

Suzhou China, 23 May 2019

As at the date of this announcement, the executive directors of the Company are Mr. Wu Min and Mr. Zhang Changsong, the non-executive directors of the Company are Mr. Zhuo You, Mr. Zhang Cheng, Mr. Ling Xiaoming and Ms. Zhang Shu and the independent non-executive directors of the Company are Mr. Zhang Huaqiao, Mr. Feng Ke and Mr. Tse Yat Hong.

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