Min Xin : VOLUNTARY ANNOUNCEMENT-FINANCIAL ASSISTANCE FROM CONTROLLING SHAREHOLDER

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VOLUNTARY ANNOUNCEMENT

FINANCIAL ASSISTANCE FROM CONTROLLING SHAREHOLDER

This announcement is made by Min Xin Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

The board of directors (the "Board") of the Company announces that on 20 May 2019, the Company entered into a shareholder's loan agreement with Vigour Fine Company Limited ("Vigour Fine"), the controlling shareholder of the Company, pursuant to which Vigour Fine agreed to make available to the Company an unsecured term loan facility of HK$200 million (the "Shareholder's Loan") from 10 June 2019 to 10 June 2022. The Shareholder's Loan will bear an interest of 3 months Hong Kong Interbank Offered Rate plus 2.1%. The Company shall repay the Shareholder's Loan by instalment, namely (i) HK$50 million on the date falling 12 months after the drawdown date; (ii) HK$50 million on the date falling 24 months after the drawdown date; and (iii) HK$100 million on the date falling 36 months after the drawdown date. The Shareholder's Loan will be utilized by the Company to repay its existing bank loan upon maturity.

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As Vigour Fine is the controlling shareholder of the Company which is interested in approximately 59.53% of the issued share capital of the Company, the Shareholder's Loan constitutes a connected transaction of the Company under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). As the Shareholder's Loan is not secured by any assets of the Group and is conducted on normal commercial terms or better, the Shareholder's Loan is fully exempted from shareholders' approval, annual review and all disclosure requirements pursuant to Rule 14A.90 of the Listing Rules.

By Order of the Board

Min Xin Holdings Limited

CHEN Yu

Executive Director and General Manager

Hong Kong, 20 May 2019

As at the date of this announcement, the executive Directors of the Company are Messrs. YAN Zheng (Chairman), WANG Fei (Vice Chairman) and CHEN Yu; the non-executive Director are Messrs. YANG Jingchao and HON Hau Chit; the independent non-executive Directors are Messrs. IP Kai Ming, CHEUNG Man Hoi and LEUNG Chong Shun.

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