China Pioneer Pharma : 2016-11-08DELAY IN DESPATCH OF CIRCULAR

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CHINA PIONEER PHARMA HOLDINGS LIMITED

中国先鋒医药控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01345) DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of China Pioneer Pharma Holdings Limited (the "Company") dated 17 October 2016 in relation to the proposed disposal of the Target Company (the "Announcement"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

As disclosed in the Announcement, a circular containing, among other things, (i) details of the Agreement and the Disposal; (ii) the recommendation from the Independent Board Committee to the Independent Shareholders in relation to the Disposal and the Agreement; (iii) a letter of advice from the IFA to the Independent Board Committee and the Independent Shareholders; and (iv) a notice of the EGM is expected to be despatched to the Shareholders on or before 7 November 2016.

As additional time is required for the Company to prepare and finalise the contents of the Circular, the despatch of the Circular will be postponed to a date falling on or before 21 November 2016.

By Order of the Board

China Pioneer Pharma Holdings Limited Li Xinzhou

Chairman

Hong Kong, 7 November 2016

As at the date of this announcement, the Directors are Mr. LI Xinzhou, Mr. WANG Yinping and Mr. ZHU Mengjun as executive Directors, Mr. WU Mijia as non-executive Director and Mr. XU Zhonghai, Mr. LAI Chanshu and Mr. WONG Chi Hung, Stanley as independent non- executive Directors.