COFCO Meat : VOLUNTARY ANNOUNCEMENT OPERATION BRIEFINGS FOR THE THIRD QUARTER OF 2019

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(incorporated in the Cayman Islands with limited liability)

(Stock Code: 01610)

VOLUNTARY ANNOUNCEMENT

OPERATION BRIEFINGS FOR THE THIRD QUARTER OF 2019

This voluntary announcement is made by COFCO Meat Holdings Limited (the "Company").

The board of directors (the "Board") of the Company hereby announces that the key operating data (unaudited) for the three months ended September 30, 2019 (the "Third Quarter of 2019") of the Company and its subsidiaries (the "Group") are as follows:

	Hog production volume	Fresh pork sales volume	Branded fresh pork revenue as
	(unit: ' 000 heads)	(unit: ' 000 tons)	% of total fresh pork revenue
	Current	Year-on-year	Current	Year-on-year	Current	Year-on-year
	period value	change	period value	change	period value	change
The Third Quarter of						Decrease by 1.8
2019	265	-60.4%	35	-28.1%	30.6%	percentage points

Notes:

1. The Company increased the proportion of retained sows and reduced the external sales. At the same time, in order to increase the supply, the Company improved the average production weight for finishing hogs appropriately. The above two factors have a certain impact on the production volume in the Third Quarter of 2019.
2. The hog production volume of the Company in September 2019 has increased as compared with the last month.
3. The Company achieved a net profit before biological assets fair value adjustments of approximately RMB240 million (unaudited) in the Third Quarter of 2019.
4. "Branded fresh pork revenue as % of total fresh pork revenue" means the revenue of branded fresh pork business divided by the revenue of fresh pork business.

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The average price for finishing hogs of the Group in the Third Quarter of 2019 was RMB22.22/kg. The three-year industry rolling average hog price in September 2019 was RMB14.9/kg, when calculated according to the "average hog price for 22 provinces and cities nationwide" on wind, and its historical trend along with the historical trend of the industry monthly average hog price is shown in the chart below:

29.0 Price: RMB/kg

25.0

21.0

17.0

13.0

9.0

10/01

10/04

10/07

10/10

11/01

11/04

11/07

11/10

12/01

12/04

12/07

12/10

13/01

13/04

13/07

13/10

14/01

14/04

14/07

14/10

15/01

15/04

15/07

15/10

16/01

16/04

16/07

16/10

17/01

17/04

17/07

17/10

18/01

18/04

18/07

18/10

19/01

19/04

19/07

Date

Industry Monthly		Industry Monthly Average		Three-year Industry Rolling
Average Hog Price		Hog Price (2019 Q3)		Average Hog Price

Note: The three-year industry rolling average hog price for a certain month refers to the average price for the period of an aggregate of 36 months prior to such month (inclusive) calculated according to the "average hog price for 22 provinces and cities nationwide" on wind. It takes about 3 years to complete the cycle from the introduction of great grandparent generation to the commercial production of finishing hogs.

Source: wind

Please note that all figures above are unaudited and have not been confirmed by the Company's auditors and may be subject to adjustment and final confirmation. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

COFCO Meat Holdings Limited

Jiang Guojin

Chairman and executive director

Hong Kong, 16 October 2019

As at the date of this announcement, the Board comprises Mr. Jiang Guojin as the chairman of the Board and the executive director, Mr. Xu Jianong as the executive director, Ms. Yang Hong, Mr. WOLHARDT Julian Juul, Dr. Cui Guiyong, Mr. Zhou Qi, Mr. Zhang Lei and Dr. Huang Juhui as non-executive directors, and Mr. Fu Tingmei, Mr. Li Michael Hankin, Mr. Lee Ted Tak Tai and Dr. Ju Jiandong as independent non-executive directors.

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