Haitong Securities : NOTICE OF LISTING ON THE STOCK EXCHANGE OF HONG KONG LIMITED - U.S.$670,000,000 2.107 per cent. guaranteed bonds due 2025 issued by Haitong International Finance Holdings 2015 Limited

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This announcement is not for distribution to (i) any person or address in the United States or (ii) to any U.S. person (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")). This announcement is solely for the purpose of reference and does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been and will not be registered under the Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the securities are being offered and sold only outside the United States to non-U.S. persons in offshore transaction in compliance with Regulation S under the Securities Act.

NOTICE OF LISTING ON

THE STOCK EXCHANGE OF HONG KONG LIMITED

Haitong International Finance Holdings 2015 Limited

(the "Issuer")

(Incorporated with limited liability under the laws of the British Virgin Islands)

U.S.$670,000,000 2.107 per cent. guaranteed bonds due 2025 (the "Bonds")

(Stock Code: 40186)

unconditionally and irrevocably guaranteed by

Haitong Securities Co., Ltd.

(the "Guarantor")

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Hong Kong Stock Exchange Stock Code: 6837;

Shanghai Stock Exchange Stock Code: 600837)

Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners

Haitong International		Haitong Bank		ICBC	Agricultural Bank of China
Bank of	China Construction	Bank of		CMB		China Minsheng
		Banking Corp., Ltd.,
China	Bank (Asia)		Communications	International
	Hong Kong Branch
	Joint Lead Managers and Joint Bookrunners
Shanghai Pudong		China PA Securities			Standard
Development		(Hong Kong)	HSBC
	Chartered Bank
Bank Hong Kong Branch		Company Limited
Citigroup	CMBC Capital	Orient Securities	CMB Wing Lung	China Everbright Bank
			(Hong Kong)	Bank Limited		Hong Kong Branch

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Application has been made by Haitong International Finance Holdings 2015 Limited to The Stock Exchange of Hong Kong Limited for the listing of, and permission to deal in the Bonds by way of debt issues to professional investors (as defined in Chapter 37 of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange and in the Securities and Futures Ordinance (Cap.

1. of Hong Kong) only as described in the offering circular dated 5 March 2020. The listing and permission to deal in the Bonds is expected to become effective on 13 March 2020.

12 March 2020

As at the date of this announcement, the directors of the Issuer are Mr. ZHANG Shaohua, Mr. ZHANG Xinjun and Mr. SUN Tong.

As at the date of this announcement, the executive directors of the Guarantor are Mr. ZHOU Jie, Mr. QU Qiuping and Mr. REN Peng; the non-executive directors of the Guarantor are Mr. TU Xuanxuan, Ms. YU Liping, Mr. CHEN Bin and Mr. XU Jianguo; and the independent non-executive directors of the Guarantor are Mr. ZHANG Ming, Dr. LAM Lee G., Mr. ZHU Hongchao and Mr. ZHOU Yu.

• For identification purpose only

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