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(incorporated in the Cayman Islands with limited liability)

(Stock Code: 01333)

ANNOUNCEMENT

CESSATION TO FURTHER ANNOUNCE AND PUBLISH UNAUDITED QUARTERLY FINANCIAL RESULTS AND OPERATION STATISTICS

The board (''Board'') of directors of China Zhongwang Holdings Limited (the ''Company'') announce that the Board has resolved not to further announce and publish the Company's unaudited quarterly financial results and operation statistics for the first three-month and nine-month periods of this and subsequent financial years in order to enable investors to focus more on the strategic deployment and longer-term development trend of the business of the Company, reduce costs and the administrative burden of the Company, and allow the Company's management to focus more on the Company's operations and development.

The Board considers that this arrangement is in the interests of the Company and the shareholders of the Company as a whole.

The Company will continue to announce and publish its interim and annual results and reports in accordance with the requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

By order of the Board

China Zhongwang Holdings Limited

Lu Changqing

Chairman

Hong Kong, 17 April 2020

As at the date of this announcement, the Board consists of:

Executive Directors

Mr. Lu Changqing and Ms. Ma Qingmei

Non-executive Directors

Mr. Chen Yan, Mr. Lin Jun and Mr. Wei Qiang

Independent Non-executive Directors

Mr. Wong Chun Wa, Mr. Wen Xianjun, Mr. Shi Ketong and Mr. Lo Wa Kei, Roy

* For identification purpose only

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China Zhongwang Holdings Ltd. published this content on 17 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 April 2020 14:07:08 UTC