China XLX Fertiliser : UPDATE ON THE INVESTMENT AGREEMENTS

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.

CHINA XLX FERTILISER LTD.

中國心連心化肥有限公司*

(Incorporated in Singapore with limited liability)

(Hong Kong Stock Code: 1866)

UPDATE ON THE INVESTMENT AGREEMENTS

Reference is made to the announcement and circular of China XLX Fertiliser Ltd. (the "Company") dated 11 June 2019 and 31 July 2019, respectively, in relation to the deemed disposal of Henan XLX. Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined in the circular.

The Board is pleased to announce that as at 18 September 2019, all payments of subscription amounts by each of the Investors set out below have been received by Henan XLX and Henan XLX raised an aggregate amount of RMB796,500,000 from the Investors as follows:

Name of the Investor	Subscription Amount
		(RMB'000)
CCB	200,000
Shanghai Jinpu Guotiao	100,000
Xiamen Baodarun	100,000
Tonglingshi Lingtong	160,000
Ningbo Yuannian	73,520
Shanghai Xinchi	31,640
Shanghai Xinyuan	21,640
Shanghai Xinzheng	65,200
Shanghai Xinzu	38,000
Zhuhai Hengqin	6,500
Total	796,500

- 1 -

Completion will take place upon Henan XLX having updated with the local Administration for Industry and Commerce its latest shareholding structure as follows (including the Investors set out below and the existing shareholders of Henan XLX which hold more than 5%):

	Number of		Shareholding
Shareholders of Henan XLX	shares held		percentage
		(approximately)
The Company	1,446,355,000	78.37%
Haitong Innovation Securities	100,000,000	5.42%
Ningbo Yuannian	58,830,000	3.19%
CCB	50,000,000	2.71%
Tonglingshi Lingtong	40,000,000	2.17%
Shanghai Jinpu Guotiao	25,000,000	1.36%
Xiamen Baodarun	25,000,000	1.36%
Shanghai Xinzheng	16,300,000	0.88%
Shanghai Xinzu	9,500,000	0.51%
Shanghai Xinchi	7,910,000	0.43%
Shanghai Xinyuan	5,410,000	0.29%
Zhuhai Hengqin	1,625,000	0.09%
The other existing shareholders of Henan XLX prior
to the Investments (other than the Company,
Haitong Innovation Securities and Ningbo Yuannian)	59,550,000	3.22%
Total	1,845,480,000	100.00%

By Order of the Board

China XLX Fertiliser Ltd.

Yan Yunhua

Executive Director

18 September 2019

As at the date of this announcement, the executive directors of the Company are Mr. Liu Xingxu, Mr. Zhang Qingjin and Ms. Yan Yunhua; the independent non-executive directors of the Company are Mr. Ong Kian Guan, Mr. Li Shengxiao, Mr. Ong Wei Jin and Mr. Li Hongxing; and the non- executive director of the Company is Mr. Zheng Jiaqi.

* for identification purpose only

- 2 -