Shanghai Haohai Biological Technology : UPDATE ANNOUNCEMENT ON PROPOSED CHANGE OF JOINT COMPANY SECRETARY

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.

Shanghai Haohai Biological Technology Co., Ltd.*

上海昊海生物科技股份有限公司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock code: 6826)

UPDATE ANNOUNCEMENT ON PROPOSED CHANGE OF

JOINT COMPANY SECRETARY

Reference is made to the announcement (the "Announcement") of Shanghai Haohai Biological Technology Co., Ltd.* (the "Company") dated 19 December 2019 in relation to, among others, the change of Board secretary of the Company and proposed change of a joint company secretary of the Company. As previously disclosed, Ms. Tian Min ("Ms. Tian") has been serving as the Board secretary of the Company since 19 December 2019 and shall serve as a joint company secretary of the Company from the date on 1 January 2020 or when the Company receives the waiver letter from The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") for a waiver from strict compliance with requirements under Rules 3.28 and 8.17 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules"), whichever is later.

Pursuant to Rule 8.17 of the Hong Kong Listing Rules, a listed issuer must appoint a company secretary who satisfies Rule 3.28 of the Hong Kong Listing Rules. Rule 3.28 of the Hong Kong Listing Rules provides that a listed issuer must appoint as its company secretary an individual who, in the opinion of the Hong Kong Stock Exchange, is capable of discharging the functions of company secretary of the listed issuer by virtue of his/her academic or professional qualifications or relevant experience. Notwithstanding that Ms. Tian currently does not possess the qualifications or relevant experience as required under Rule 3.28 of the Hong Kong Listing Rules, she has obtained the Legal Profession Qualification Certificate of the People's Republic of China awarded by the Ministry of Justice of the People's Republic of China, and has been involved in, among other things, financial reporting matters and the preparation of the Company's regulatory announcements and circulars. As such, the Company has applied for, and the Hong Kong Stock Exchange has granted on 24 December 2019, a waiver (the "Waiver") from strict compliance with the requirements under Rules 3.28 and 8.17 of the Hong Kong Listing Rules for a period of three years from the date of Ms. Tian's appointment as a joint company secretary of the Company (the "Waiver Period"), on the conditions that:

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1. Ms. Tian will be assisted by Mr. Chiu Ming King ("Mr. Chiu"), the other existing joint company secretary of the Company, to acquire the relevant experience to discharge the functions of a joint company secretary during the Waiver Period. The Waiver will be revoked immediately if Mr. Chiu ceases to provide assistance to Ms. Tian. The Hong Kong Stock Exchange may withdraw or change the Waiver if the Company's situation changes;
2. the Company should notify the Hong Kong Stock Exchange at the end of the Waiver Period to re-visit the situation, and expects that Ms. Tian will satisfy Rule 3.28 of the Hong Kong Listing Rules, having had the benefit of Mr. Chiu's assistance such that a further waiver will not be necessary; and
3. the Company will announce details of the Waiver, including its reasons and conditions.

The replacement of Mr. Huang Ming with Ms. Tian as a joint company secretary of the Company will come into effect on 1 January 2020. For the biographical details of Ms. Tian, please refer to the Announcement.

By order of the Board

Shanghai Haohai Biological Technology Co., Ltd.*

Chairman

Hou Yongtai

Shanghai, the PRC, 24 December 2019

As at the date of this announcement, the executive directors of the Company are Dr. Hou Yongtai, Mr. Wu Jianying, Ms. Chen Yiyi and Mr. Tang Minjie; the non-executive directors of the Company are Ms. You Jie and Mr. Huang Ming; and the independent non-executive directors of the Company are Mr. Chen Huabin, Mr. Shen Hongbo, Mr. Zhu Qin and Mr. Wong Kwan Kit.

• For identification purpose only

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