Shenzhen Investment : ANNOUNCEMENT PURSUANT TO RULE 13.18 OF THE LISTING RULES

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.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00604)

ANNOUNCEMENT PURSUANT TO

RULE 13.18 OF THE LISTING RULES

This announcement is made pursuant to Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors (the "Board") of Shenzhen Investment Limited (the "Company") announces that on 17 September 2020, the Company as borrower accepted the facility letter (the "Facility Letter") relating to a term loan facility of up to HK$800,000,000 (the "Facility") offered by a bank as lender. The term of the Facility is 3 years from the date of the first drawdown under the Facility.

Pursuant to the Facility Letter, the Company has undertaken to procure that (i) Shum Yip Holdings Company Limited ("Shum Yip") remains the single largest shareholder, maintains at least 35% beneficial ownership in the Company and maintains control over the Board; and

1. Shenzhen Municipal People's Government of the People's Republic of China owns (directly or indirectly) at least 51% beneficial ownership in Shum Yip. A breach of such undertakings will constitute an event of default and upon the occurrence of which, all outstanding amounts under the Facility shall become immediately due and payable.

As at the date of this announcement, Shum Yip beneficially holds approximately 62.32% (and when aggregated with the interests held through its wholly-owned subsidiary, approximately 63.18%) of the issued share capital of the Company and the Shenzhen Municipal People's Government of the People's Republic of China holds 100% interest in Shum Yip.

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The Company will, in compliance with Rule 13.21 of the Listing Rules, include appropriate disclosure in its interim and annual reports for so long as circumstances giving rise to the disclosure obligation under Rule 13.18 of the Listing Rules continue to exist.

By Order of the Board

SHENZHEN INVESTMENT LIMITED

LU Hua

Chairman

Hong Kong, 17 September 2020

As at the date of this announcement, the Board comprises 8 directors, of which Dr. LU Hua, Mr. HUANG Wei, Ms. CAI Xun, Mr. DONG Fang and Mr. LIU Shichao are the executive directors of the Company and Mr. WU Wai Chung, Michael, Mr. LI Wai Keung and Dr. WONG Yau Kar, David are the independent non-executive directors of the Company.

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