Doyen International : VOLUNTARY ANNOUNCEMENT IN RELATION TO THE STATUS OF THE LOANS

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DOYEN INTERNATIONAL HOLDINGS LIMITED

東 銀 國 際 控 股 有 限 公 司

(incorporated in Hong Kong with limited liability)

(Stock Code: 668)

VOLUNTARY ANNOUNCEMENT IN RELATION TO

THE STATUS OF THE LOANS

Reference is made to (i) the announcements of Doyen International Holdings Limited (the "Company", together with its subsidiaries, the "Group") dated 18 January 2018, 11 April 2018, 3 July 2018, 31 October 2018 and 25 January 2019 (the "Loan Status Announcements") in relation to the status of certain loans granted by the Group to the Borrower; (ii) the announcements of the Company dated 28 December 2018, 15 February 2019, 28 February 2019 and 28 June 2019 (the "VSA Announcements") in relation to the Transfer of the Equity Interest in Doyen Shell; and (iii) the announcements of the Company dated 2 July 2019 and 14 August 2019 (the "Property Preservation Announcements") in relation to the Property Preservation. Unless otherwise stated, terms used in this announcement shall have the same meanings as those defined in the Loan Status Announcements, the VSA Announcements and the Property Preservation Announcements.

On 9 September 2019, the Company was informed that, among others, the Borrower, Mr. Lo and Shuorun Petrochemical were served with a summons in relation to a legal claim brought by Huarong in relation to a debt of a principal amount of RMB100 million, together with relevant interests and penalties (the "Claim"). As advised by the PRC legal adviser of the Company on 9 September 2019, the Claim was filed with the PRC court on 22 July 2019 (i.e. within 30 days from the commencement of the Property Preservation with respect to 51% of the equity interest in Doyen Shell) and the Property Preservation will continue to be in effect up to 26 June 2022. In light of the Claim and the Property Preservation, as at the date of this announcement, the Company has engaged its PRC legal advisers to advise the Company regarding such matter.

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According to the Agreement (as supplemented by the relevant supplemental agreements), the Agreement shall lapse in the event where (i) any Conditions is not fulfilled by 30 September 2019, being the deadline of fulfill of the Conditions; or (ii) Completion did not take place by 30 September 2019, being the Completion Deadline. The Company will make further announcement(s) to update its shareholders and investors if there are any material updates in relation to the Agreement and any action taken by the Company as and when appropriate.

Shareholders and potential investors should exercise caution when dealing in the shares of the

Company.

By Order of the Board

Doyen International Holdings Limited

Cho Chun Wai

Company Secretary and Executive Director

Hong Kong, 20 September 2019

As at the date of this announcement, the Board comprises Mr. Lo Siu Yu (Chairman), Mr. Tai Xing (Chief Executive Officer) and Mr. Cho Chun Wai as executive Directors; Ms. Luo Shaoying (Vice Chairman), Mr. Pan Chuan and Mr. Qin Hong as non-executive Directors; and Mr. Chan Ying Kay, Mr. Leung Kin Hong and Mr. Wang Jin Ling as independent non-executive Directors.

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