Huatai Securities : Notice of Listing on The Stock Exchange of Hong Kong Limited - Issue of U.S.$800,000,000 1.30 per cent. Guaranteed Bonds due 2024 and U.S.$500,000,000 2.00 per cent. Guaranteed Bonds due 2026 by Pioneer Reward Limited and Guaranteed by Huatai Securities Co., Ltd.

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities law of any state of the United States or other jurisdiction. The securities are being offered and sold outside the United States in reliance on Regulation S under the Securities Act and may not be sold within the United States absent registration or an exemption from registration under the Securities Act. No public offering of the securities will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.

NOTICE OF LISTING ON

THE STOCK EXCHANGE OF HONG KONG LIMITED

PIONEER REWARD LIMITED

(incorporated in the British Virgin Islands with limited liability)

(the "Issuer")

U.S.$700,000,000 1.30 PER CENT. GUARANTEED BONDS DUE 2024 (THE "2024 BONDS") AND THE U.S.$100,000,000 1.30 PER CENT.

GUARANTEED BONDS DUE 2024 CONSOLIDATED AND

FORM A SINGLE SERIES WITH THE 2024 BONDS (THE "NEW BONDS")

(Stock Code: 40643)

U.S.$500,000,000 2.00 PER CENT. GUARANTEED BONDS DUE 2026 (THE "2026 BONDS", AND TOGETHER WITH THE 2024 BONDS AND THE NEW BONDS, THE "BONDS")

(Stock Code: 40644)

unconditionally and irrevocably guaranteed by

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

corporate name and carrying on business in Hong Kong as HTSC)

(the "Guarantor") (Stock Code: 6886)

Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners for the 2024 Bonds and the 2026 Bonds

Huatai International				ICBC
ABC International	Bank of China	Standard Chartered Bank	China Minsheng Banking
								Corp., Ltd.
Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners for the New Bonds
Huatai International	China Minsheng Banking Corp., Ltd.,	Standard Chartered Bank
			Hong Kong Branch
Joint Bookrunners and Joint Lead Managers for the 2024 Bonds and the 2026 Bonds
Bank of	CCB		China	China Everbright	China PA	CMB Wing Lung
Communications	International		CITIC Bank	Bank Hong Kong	Securities (Hong	Bank Limited
			International	Branch		Kong) Company
						Limited
Industrial Bank Co.,	J.P. Morgan	BofA Securities	Mizuho Securities		UBS
Ltd. Hong Kong
Branch

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Application has been made 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 Stock Exchange of Hong Kong Limited) only as described in the Offering Circular relating to the 2024 Bonds and the 2026 Bonds dated 30 March 2021 and the Offering Circular relating to the New Bonds dated 31 March 2021. Permission for the listing of, and dealing in, the Bonds is expected to become effective on 12 April 2021.

12 April 2021

As at the date of this announcement, the sole director of Pioneer Reward Limited is Mr. Chung Chi Chuen Ryan.

As at the date of this announcement, the directors of the Guarantor are Mr. Zhang Wei, Mr. Zhou Yi and Mr. Zhu Xuebo as executive Directors; Mr. Ding Feng, Mr. Chen Yongbing, Mr. Ke Xiang, Ms. Hu Xiao and Mr. Wang Tao, as non-executive Directors; and Mr. Chen Chuanming, Mr. Lee Chi Ming, Ms. Liu Yan, Mr. Chen Zhibin and Mr. Wang Jianwen as independent non-executive Directors.

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