Huarong International Financial : DELAY IN PUBLICATION OF ANNUAL RESULTS POSSIBLE DELAY IN DESPATCH OF 2020 ANNUAL REPORT AND SUSPENSION OF TRADING IN SHARES

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 Bermuda with limited liability)

(Stock Code: 993)

DELAY IN PUBLICATION OF ANNUAL RESULTS

POSSIBLE DELAY IN DESPATCH OF 2020 ANNUAL REPORT

AND

SUSPENSION OF TRADING IN SHARES

This announcement is made by Huarong International Financial Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rules 13.09 and 13.49(3) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the laws of Hong Kong).

DELAY IN PUBLICATION OF THE ANNUAL RESULTS

The board of directors (the "Board") of the Company hereby announces that the Company is unable to publish the audited annual results of the Group for the year ended 31 December 2020 (the "Annual Results") on 31 March 2021 due to the reason that the Company is still in the process of discussing with its auditors on the valuation of certain assets, and further information is requested by the auditors for the purpose of completing their relevant audit procedures.

The Company is working closely with its auditors to provide all the requisite information and documents to complete the audit procedures as soon as possible. However, the expected date of the publication of the Annual Results will need to be further determined with the auditors and will be announced as and when appropriate.

Pursuant to Rule 13.49(1) of the Listing Rules, the Company is required to publish the Annual Results no later than three months after the end of the financial year (i.e., on or before 31 March 2021). The delay in the publication of the Annual Results constitutes a non-compliance of Rule 13.49(1) of the Listing Rules.

- 1 -

Pursuant to Rule 13.49(3) of the Listing Rules, if the Company is unable to publish the Annual Results within the prescribed timeframe, it must announce its results prepared based on the financial results which have yet to be agreed upon with the auditors (so far as such information is available). The Board, after due and careful consideration, is of the view that it would not be appropriate for the Company to publish the unaudited management accounts of the Group for the year ended 31 December 2020 at this stage as they might not accurately reflect the financial performance and position of the Group and the publication of the unaudited management accounts could cause confusion and might be misleading to the shareholders (the "Shareholders") and potential investors of the Company.

The Board hereby confirms that the Company is operating as usual and none of its businesses is affected.

POSSIBLE DELAY IN DESPATCH OF THE 2020 ANNUAL REPORT

Pursuant to Rule 13.46(2)(a) of the Listing Rules, the Company is required to despatch its annual report for the year ended 31 December 2020 (the "2020 Annual Report") to the Shareholders no later than four months after the end of the financial year (i.e., on or before 30 April 2021). Due to the delay in the publication of the Annual Results, it is expected that there may be a possible delay in the despatch of the 2020 Annual Report.

The possible delay in despatch of the 2020 Annual Report, if materialised, will constitute a non-compliance with Rule 13.46(2)(a) of the Listing Rules. The Company will publish further announcement(s) to inform the Shareholders of the date of despatch of the 2020 Annual Report as and when appropriate.

POSTPONEMENT OF BOARD MEETING

Reference is made to the announcement of the Company dated 19 March 2021 in relation to a meeting of the Board (the "Board Meeting") to be held on 31 March 2021 for the purpose of, among other matters, considering and approving the Annual Results announcement and its publication and considering the distribution of the final dividend, if any. Due to the aforesaid delay in publication of the Annual Results, the Board Meeting will be postponed.

The Company will publish further announcement(s) to inform the Shareholders of the date of the Board Meeting as and when appropriate.

- 2 -

SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on The Stock Exchange of Hong Kong Limited will be suspended with effect from 9:00 a.m. on 1 April 2021 pending the publication of the Annual Results.

The Company will make further announcement(s) in due course to inform its Shareholders and potential investors of any information update. The Shareholders and potential investors are reminded to exercise caution when dealing in the shares of the Company.

By order of the Board

Huarong International Financial Holdings Limited

Xu Xiaowu

Chairman

Hong Kong, 31 March 2021

As at the date of this announcement, the Board comprises Mr. Xu Xiaowu and Mr. Wang Junlai as executive Directors, Ms. Wang Qi as non-executive Director, and Mr. Hung Ka Hai Clement, Mr. Ma Lishan and Mr. Guan Huanfei as independent non-executive Directors.

- 3 -