Dynasty Fine Wines : Completion of Change of Shareholding Structure of the Intermediate Controlling Shareholder of the Company

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 828)

COMPLETION OF CHANGE OF SHAREHOLDING STRUCTURE OF

THE INTERMEDIATE CONTROLLING SHAREHOLDER OF

THE COMPANY

This announcement is made by Dynasty Fine Wines Group Limited (the "Company") pursuant to Rule 13.09 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 18 June 2020 and 20 August 2020 in relation to the proposed change of shareholding structure of the Company's controlling shareholder.

The Company has been informed by the shareholder of Famous Ever Group Limited ("Famous Ever") that the proposed transfer has been completed on 9 September 2020 and 天津食品集團有限公司 (Tianjin Food Group Company Limited*) ("Tianjin Food") became the sole shareholder of Famous Ever. Famous Ever is interested in approximately 44.70% of the issued share capital of the Company as at the date of this announcement. Accordingly, Tianjin Food became an intermediate controlling shareholder (as defined by the Listing Rules) of the Company. The Company proposes to enter into certain transactions with Tianjin Food. The Company will publish further announcement(s) in accordance and compliance with the Listing Rules as and when appropriate.

• English names of the PRC established companies/entities in this announcement are only translations of their official Chinese names. In case of inconsistency, the Chinese names prevail.

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Shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

DYNASTY FINE WINES GROUP LIMITED

Sun Jun

Chairman

Hong Kong, 10 September 2020

As at the date of this announcement, the board of directors of the Company comprises three executive directors, namely, Mr. Sun Jun, Mr. Li Guanghe and Mr. Sun Yongjian, five non-executive directors, namely, Mr. Heriard-Dubreuil Francois, Ms. Shi Jing, Mr. Jean-Marie Laborde, Mr. Wong Ching Chung and Mr. Robert Luc, and three independent non-executive directors, namely, Dr. Zhang Guowang, Mr. Yeung Ting Lap Derek Emory and Mr. Sun David Lee.

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