JINGRUI : US$157,000,000 12.5% SENIOR NOTES DUE 2023

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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 informational purposes only and is not an offer to sell or the solicitation of an offer to buy securities in the United States or in 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. Neither this announcement nor anything herein forms the basis for any contract or commitment whatsoever. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the Company and management, as well as financial statements. No public offer of securities is to be made by the Company in the United States.

JINGRUI HOLDINGS LIMITED

景 瑞 控 股 有 限 公 司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 01862)

(the "Company")

US$157,000,000 12.5% SENIOR NOTES DUE 2023

(THE "NOTES", STOCK CODE: 40659)

NOTICE OF LISTING ON

THE STOCK EXCHANGE OF HONG KONG LIMITED

Application has been made to the Stock Exchange for the listing of and permission to deal in the Notes 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) only as described in the offering memorandum dated 21 April 2021. Permission for the listing of, and dealing in, the Notes is expected to become effective on 27 April 2021.

By Order of the Board

Jingrui Holdings Limited

Yan Hao Chen Xin Ge

Co-chairmen

Hong Kong, 26 April 2021

As at the date of this announcement, the Board of Directors of the Company comprises Yan Hao, Chen Xin Ge, Xu Hai Feng and Chen Chao, as executive Directors; Han Jiong, Qian Shi Zheng and Lo Wing Yan William, as independent non-executive Directors.

• For identification purpose only