China Yuhua Education : ADJUSTMENT TO CONVERSION PRICE OF HK$2,088,000,000 0.90% CONVERTIBLE BONDS DUE 2024

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CHINA YUHUA EDUCATION CORPORATION LIMITED

中國宇華教育集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6169)

ADJUSTMENT TO CONVERSION PRICE OF

HK$2,088,000,000 0.90% CONVERTIBLE BONDS DUE 2024

(Stock Code: 40109)

Reference is made to (i) the announcement of China YuHua Education Corporation Limited (the "Company") dated 29 November 2019 with respect to, among others, the payment of a final dividend of HK$0.073 per Share (the "Final Dividend") for the year ended 31 August 2019 and paid to the shareholders of the Company on 21 February 2020; and (ii) the announcements of the Company dated 4 December 2019, 10 December 2019 and 27 December 2019 in relation to, among others, the issue of the Convertible Bonds. Unless the context otherwise requires, capitalised words and expressions used herein shall have the same meanings as defined in the announcement of the Company dated 4 December 2019.

On 29 November 2019, the board of directors of the Company recommended the payment of the Final Dividend, which was approved by the shareholders of the Company at the annual general meeting held on 4 February 2020 and paid to the shareholders of the Company on 21 February 2020.

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Notice is hereby given that based on the adjustment provisions stipulated under Condition 6(C)(3) of the terms and conditions of the Convertible Bonds, an adjustment will be made to the Conversion Price of the Convertible Bonds as a result of the Final Dividend. The Conversion Price of the Convertible Bonds changed from the initial Conversion Price of HK$7.1303 per Share to HK$7.0190 per Share.

The maximum number of Conversion Shares that will be issued upon conversion of all the outstanding Convertible Bonds at the initial Conversion Price and the adjusted Conversion Price is 292,834,803 Shares and 297,478,273 Shares, respectively, representing an increase of 4,643,470 Shares (the "Additional Conversion Shares") issuable under the Convertible Bonds. The Additional Conversion Shares will be issued pursuant to the General Mandate.

Holders of the Convertible Bonds who are in any doubt as to the action to be taken should consult their stockbroker, bank manager, solicitor, professional accountant or other professional adviser.

By order of the board of directors

China YuHua Education Corporation Limited

Li Guangyu

Chairman and Executive Director

Hong Kong, 24 February 2020

As at the date of this announcement, the board of directors comprises Mr. Li Guangyu, Ms. Li Hua and Ms. Qiu Hongjun as executive directors; and Mr. Zhang Zhixue, Mr. Chen Lei and Mr. Xia Zuoquan as independent non-executive directors.

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