Hengtai Securities : INSIDE INFORMATION - ANNOUNCEMENT ON OBTAINING APPROVAL FOR THE APPLICATION OF A CHANGE OF SHAREHOLDERS HOLDING MORE THAN 5% EQUITY INTEREST

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.

恒 投 證 券

HENGTOU SECURITIES

(A joint stock company incorporated in the People's Republic of China with limited liability under the Chinese corporate name " 恒 泰 證 券 股 份 有 限 公 司" and carrying on business in Hong Kong as " 恒 投 證 券" (in Chinese) and "HENGTOU SECURITIES" (in English))

(the "Company")

(Stock Code: 01476)

INSIDE INFORMATION

ANNOUNCEMENT ON OBTAINING APPROVAL FOR THE

APPLICATION OF A CHANGE OF SHAREHOLDERS HOLDING

MORE THAN 5% EQUITY INTEREST

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

Reference are made to the Company's announcements dated 29 May 2019 and 17 June 2019 in relation to possible disposal of shares by substantial shareholders.

Recently, the Company received the Reply on Approval for the Change of Shareholders

Holding More Than 5% Equity Interest of Hengtai Securities Co., Ltd. (Zheng Jian Xu Ke [2020] No. 344) 《( 關 於 核 准 恒 泰 證 券 股 份 有 限 公 司 變 更 持 有5% 以 上

股 權 的 股 東 的 批 覆》( 證 監 許 可[2020]344 號)) from China Securities Regulatory Commission ("CSRC"), the principal contents of which are as follows:

1. Approved the qualification of shareholder and substantial shareholder of Tianfeng Securities Co., Ltd. ("Tianfeng Securities") holding more than 5% equity interest in the Company, and there was no objection to the lawful transfer to Tianfeng Securities of 532,299,681 shares of the Company, representing 20.43% of the total shares. Before the completion of the above-mentioned transfer of shares, Tianfeng Securities shall not pay the remaining equity acquisition funds, or use or allow others to use the prepaid equity acquisition funds.

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1. The Company shall go through procedures for the transfer of equity interest in accordance with law within 30 business days from the date of the Approval issuance, failing which the Approval shall automatically lapse.
2. Where there are material issues in the process of changing the shareholders holding more than 5% equity interest, the Company shall report promptly to the CSRC and the local bureau of the CSRC at the place of the Company.

The Company will complete the relevant procedures in compliance with the relevant requirements. The Company will keep its shareholders and potential investors informed of further development in connection with the relevant matters by way of further announcement(s) as and when appropriate or necessary.

By order of the Board

Pang Jiemin

Chairman

Beijing, PRC

9 March 2020

As at the date of this announcement, the Board comprises Mr. Pang Jiemin and Mr. Wu Yigang as executive Directors; Mr. Yu Lei, Mr. Wang Linjing, Ms. Dong Hong and Ms. Gao Liang as non-executive Directors; and Dr. Lam Sek Kong, Mr. Xie Deren and Mr. Dai Genyou as independent non-executive Directors.

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