China Kangda Food : WAIVER APPLICATION IN RESPECT OF PUBLIC FLOAT OF THE SHARES IN CHINA KANGDA FOOD COMPANY LIMITED

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and The Singapore Exchange Securities Trading 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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.

CHINA KANGDA FOOD COMPANY LIMITED

中 國 康 大 食 品 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Hong Kong Stock Code (Primary Listing): 834)

(Singapore Stock Code (Secondary Listing): P74)

WAIVER APPLICATION

IN RESPECT OF PUBLIC FLOAT OF

THE SHARES IN

CHINA KANGDA FOOD COMPANY LIMITED

Reference is made to (i) the composite offer and response document dated 16 August 2019 issued by China Kangda Food Company Limited (the "Company") and Zenith Hope Limited in relation to the Offer (the "Composite Document"); and (ii) the joint announcement issued by the Company and Zenith Hope Limited on 10 September 2019 in relation to the close of the Offer, the result of the Offer and public float of the Shares ("Closing Announcement"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Composite Document.

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WAIVER FROM STRICT COMPLIANCE WITH RULE 8.08(1)(A)OF THE LISTING RULES

As stated in the Closing Announcement, immediately after the close of the Offer (subject to the due registration by the Registrar HK and the Registrar SG of the transfer of the Offer Shares tendered under the Offer), 101,683,934 Shares, representing approximately 23.49% of the entire issued share capital of the Company, are held by the public (as defined in the Listing Rules). Accordingly, the minimum public float requirement of 25% as set out in Rule 8.08(1)

(a) of the Listing Rules is not satisfied.

As stated in the "Letter from Donvex Capital" in the Composite Document, the Offeror intends to maintain the listing of the Shares on the Main Board of the Stock Exchange and on the Singapore Stock Exchange after the close of the Offer. As confirmed by the Offeror, it will take appropriate efforts to restore the public float of the Shares, including but not limited to entering into a placing agreement with a placing agent for the Offeror to place, on a best effort basis, the Shares beneficially owned by the Offeror to investors who are independent investors not connected with the directors, chief executive officer and substantial shareholders of the Offeror and the Company and their respective subsidiaries and associates, and are not parties acting in concert with the Offeror to the extent that at least 25% of all the issued share capital of the Company will be held by the public.

Based on the above information, the Company had applied for, and the Stock Exchange has on 16 September 2019 granted, a waiver from strict compliance with Rule 8.08(1)(a) of the Listing Rules for the period from 10 September 2019 to 11 October 2019.

Further announcement(s) will be made by the Company regarding restoration of public float in the Shares as and when appropriate in accordance with the Listing Rules.

By order of the Board

China Kangda Food Company Limited

Fang Yu

Chairman

Hong Kong, 16 September 2019

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As at the date of this announcement, the executive directors of the Company are Mr. Fang Yu (Chief Executive Officer and Chairman), Mr. An Fengjun, Mr. Gao Yanxu, Mr. Luo Zhenwu, Mr. Li Wei and Mr. Wang Yuan; and the independent non-executive directors of the Company are Mr. Lau Choon Hoong, Mr. Song Xuejun and Mr. Lu Zhiwen.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, and confirm, having made all reasonable enquiries, 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 contained in this announcement misleading.

The English text of this announcement shall prevail over its Chinese text in case of inconsistency.

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