Sino Biopharmaceutical : APPOINTMENT OF EXECUTIVE DIRECTOR, REDESIGNATION OF DIRECTOR AND CHANGE OF CHIEF EXECUTIVE OFFICER

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 the Cayman Islands with limited liability)

Website: www.sinobiopharm.com

(Stock code: 1177)

APPOINTMENT OF EXECUTIVE DIRECTOR,

REDESIGNATION OF DIRECTOR

AND

CHANGE OF CHIEF EXECUTIVE OFFICER

The Board announces that with effect from 19 August 2020:

1. Mr. Tse Ping has resigned as the Chief Executive Officer of the Company and has been redesignated as the senior vice chairman of the Board of the Company; and
2. Mr. Li Yi has been appointed as an executive director and the Chief Executive Officer of the Company.

RESIGNATION OF CHIEF EXECUTIVE OFFICER AND REDESIGNATION OF DIRECTOR

The board of directors (the "Board") of Sino Biopharmaceutical Limited (the "Company") announces that Mr. Tse Ping ("Mr. Tse") has resigned as the Chief Executive Officer of the Company and has been redesignated as the senior vice chairman of the Board of the Company, with effect from 19 August 2020. Mr. Tse will remain as an executive director and a member of the Executive Board Committee and Nomination Committee, respectively, of the Company, to continue to serve the Company.

Mr. Tse has confirmed that he has no disagreement with the Board and that there are no matters which need to be brought to the attention of the Stock Exchange of Hong Kong Limited (the "Stock Exchange") or the shareholders of the Company in relation to his resignation.

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The biographical details and relationship with any directors and substantial or controlling shareholders of the Company of Mr. Tse can be found on the website (www.sinobiopharm.com) and in the 2019 annual report of the Company. As at the date of this announcement, Mr. Tse holds 1,475,685,124 shares of the Company through his own interest and interest in Validated Profits Limited. Other than this, Mr. Tse does not have any interest or short position in shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance.

APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

The Board also announces that Mr. Li Yi ("Mr. Li") has been appointed as an executive director and the Chief Executive Officer of the Company, with effect from 19 August 2020.

The biographical details of Mr. Li are set out below:

Mr. Li Yi (李一), aged 59, joined J.P. Morgan China in October 2014 as chairman and chief executive officer, overseeing the overall operations of the group's business in China and chairing its China management committee. Mr. Li focussed on building a strong and comprehensive professional management team to support the all-around healthy development of J.P. Morgan's business in China from a long-term strategic perspective. Mr. Li was appointed as the chairman of J.P. Morgan Chase Bank (China) Company Limited in April 2015, and was promoted to vice chairman of Global Banking, J.P. Morgan in May 2018, dedicated to improving the degree of internationalization of China capital market and the level of Chinese enterprises' involvement in international capital markets. In September 2019, Mr. Li assumed the role of chairman of J.P. Morgan Securities (China) Company Limited, which was the first newly established foreign controlled joint venture securities company in China.

Before joining J.P. Morgan, Mr. Li served as the chairman and country head of UBS China, and the chairman of UBS Securities Co., Ltd. Under the leadership of Mr. Li, UBS successfully established the first Sino-foreign fully licensed securities joint venture company in China, and built various China platforms such as securities, banking, wealth management, asset management and futures and options. From 2001 to 2005, Mr. Li was the managing director of China Merchants Holdings (International) Company Limited; during that period, the company's overall performance increased by approximately four times and the company was included in the Hang Seng Index in 2004. In 2004, Mr. Li was selected as one of the "Most Outstanding Business Leaders in Asia" by CNBC Asia. In 2016, leveraging on his "strategy-driven" management concept and effective management, Mr. Li became the only one in the industry named as the "Chinese Investment Banker in Ten Years" by China Business Network. In 2018, Mr. Li was granted the "Global Multinational Corporation Leaders Outstanding Contribution Award" by the China International Council for the Promotion of Multinational Corporations. From 1976 to 1980, Mr. Li was a professional soccer player.

Mr. Li graduated from Wharton School of the University of Pennsylvania with an MBA degree. Before that, he graduated and holds a bachelor's degree in law from China University of Political Science and Law, as well as a bachelor's degree from Beijing Sport University.

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Mr. Li has entered into an employment contract (the "Employment Contract") with the Company. Pursuant to the Employment Contract, (i) Mr. Li has been appointed as an executive director and the Chief Executive Officer of the Company, for an initial term of three years commencing from 19 August 2020, but shall be subject to retirement by rotation and re-election at annual general meetings of the Company in accordance with the Articles of Association of the Company; and (ii) Mr. Li is entitled to receive a remuneration to be paid in cash of US$3,500,000 (equivalent to approximately HK$27,300,000) per annum, an award to be paid in kind valued at US$3,500,000 (equivalent to approximately HK$27,300,000) per annum, and a one-offsign-on bonus to be paid in cash of US$2,000,000 (equivalent to approximately HK$15,600,000).The remuneration of Mr. Li is determined with reference to his duties and responsibilities, the remuneration policy of the Company and prevailing market standards.

Mr. Li does not hold any directorship in other listed companies in the past three years, and does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company.

As at the date of this announcement, Mr. Li holds 230,000 shares of the Company. Save as disclosed above, Mr. Li does not have any interest or short position in shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance.

Mr. Li has confirmed that there is no further information which is discloseable pursuant to the requirements of Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") and there is no other matter relating to his appointment that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange.

The Board would like to extend its warmest welcome to Mr. Li for joining the Board.

NON-COMPLIANCE WITH RULE 3.10A OF THE LISTING RULES

Following the appointment of Mr. Li as an executive director, the Board comprises thirteen members, being nine executive directors and four independent non-executive directors. The number of independent non-executive directors is therefore less than one-third of the number of members of the Board, which is lower than the minimum requirement prescribed under Rule 3.10A of the Listing Rules. As such, the Board will make its best endeavours to identity suitable candidate to fill the vacancy as soon as practicable and make further announcement as appropriate.

By order of the Board

Sino Biopharmaceutical Limited

Tse, Theresa Y Y

Chairwoman

Hong Kong, 19 August 2020

As at the date of this announcement, the Board of the Company comprises nine Executive Directors, namely Ms. Tse, Theresa Y Y, Mr. Tse Ping, Ms. Cheng Cheung Ling, Mr. Tse, Eric S Y, Mr. Tse Hsin, Mr. Li Yi, Mr. Wang Shanchun, Mr. Tian Zhoushan, Ms. Li Mingqin and four Independent Non- Executive Directors, namely Mr. Lu Zhengfei, Mr. Li Dakui, Ms. Lu Hong and Mr. Zhang Lu Fu.

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