Hengan International : VOLUNTARY ANNOUNCEMENT

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: 1044)

Websites:http://www.hengan.comhttp://www.irasia.com/listco/hk/hengan

VOLUNTARY ANNOUNCEMENT

Reference is made to the announcement of the Company dated 13 December 2018 (the "Announcement") for clarification of certain allegations made in a report issued by Bonitas Research LLC ("Bonitas") on or about 11 December 2018 (the "Report"). The Company note that a further report was published by Bonitas on 13 December 2018 allegedly to rebut the clarifications made by the Company in the Announcement (the "Further Report"). The Company takes the view that the so-called "rebuttal" of Bonitas made in the Further Report is, similar to the Report, incorrect, unsubstantiated, groundless and malicious. The Company denies all the allegations made in the Report and the Further Report.

Having made such enquiry with respect to the Company as is reasonable in the circumstances, the board of directors of the Company (the "Board") confirms that, it is not aware of any inside information that needs to be disclosed under Part XIVA of the Securities and Future Ordinance (Chapter 571 of the Laws of Hong Kong).

The Company reserves its right to take any legal action against Bonitas.

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

By order of the Board

Hengan International Group Company Limited

Sze Man Bok

Chairman

Hong Kong, 13 December 2018

As at the date of this announcement, the Board comprises Mr. Sze Man Bok, Mr. Hui Lin Chit, Mr. Hung Ching Shan, Mr. Xu Shui Shen, Mr. Xu Da Zuo, Mr. Xu Chun Man, Mr. Sze Wong Kim, Mr. Hui Ching Chi and Mr. Li Wai Leung as executive directors, and Mr. Chan Henry,Mr. Wang Ming Fu, Ms. Ada Ying Kay Wong, Mr. Ho Kwai Ching, Mark and Mr. Zhou Fang Sheng as independent non-executive directors.

* For identification purposes only