ANNOUNCEMENT : APPOINTMENT OF EXECUTIVE DIRECTOR

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SINOFERT HOLDINGS LIMITED

中 化 化 肥 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 297)

ANNOUNCEMENT

APPOINTMENT OF EXECUTIVE DIRECTOR

The board of directors (the "Board") of Sinofert Holdings Limited (the "Company") announces that Mr. FENG Mingwei ("Mr. Feng") has been appointed as an executive director of the Company with effect from 25 February 2020.

The biographical details of Mr. Feng are as follows:

Mr. Feng, aged 57, graduated from Beijing University of Iron and Steel Technology in 1987 majoring in automation, and acquired a postgraduate diploma in world economics from Renmin University of China in 1998. In 1984, Mr. Feng joined Sinochem Group Co., Ltd., the controlling shareholder of the Company, in which he had held positions in the finance department and the representative office in Pakistan. He subsequently served as the sales manager in the business department of SC Polymers Inc. and the deputy general manager of Sinochem Plastic Ltd. Mr. Feng joined Sinochem Fertilizer Co., Ltd., a subsidiary of the Company, in December 2001, and had held positions of the deputy general manager of the import department, the general manager of the first fertilizer department, the general manager of the potash fertilizer department and an assistant to the general manager of Sinochem Fertilizer Co., Ltd.. Mr. Feng served as the deputy general manager of the Company from May 2007 to December 2019. He has been a non-executive director of Qinghai Salt Lake Industry Co., Ltd. (a company listed on the Shenzhen Stock Exchange with the stock code: 000792) since March 2008, and is currently serving as a director of various subsidiaries of the Company.

Mr. Feng has been deeply involved in marketing and team building for 35 years. He has profound understanding of the supply and demand of fertilizers in both domestic and international markets, as well as the market development trend, possesses strong capability and extensive practical experience in strategic procurement, distribution service, logistics and financial support. Mr. Feng is concurrently the vice chairman of the Chinese Society of Plant Nutrition and Fertilizer Science and the executive vice

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president of Potash Branch of China Inorganic Salts Industry Association, with strong influence in the potash fertilizer industry of the PRC.

Save as described above, Mr. Feng has no relationship with any directors, senior management or substantial or controlling shareholders of the Company, has not held any other position in the Company or any of its subsidiaries, and has not held any directorship in any Hong Kong or overseas listed public companies in the last three years. As at the date of this announcement, Mr. Feng did not have any interest in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Mr. Feng will enter into a director's service contract with the Company for a term of three years. Pursuant to the bye-laws of the Company, Mr. Feng will hold office until the next general meeting of the Company and will then be eligible for re-election at that meeting. Thereafter, Mr. Feng will be subject to retirement by rotation and will be eligible for re-election at subsequent annual general meetings of the Company in accordance with the bye-laws of the Company. Mr. Feng will be entitled to a fixed fee of RMB1,085,370 per annum. Mr. Feng may also receive year end bonus and other rewards, which will be determined by the Remuneration Committee of the Company by reference to the operating results of the Company, individual performance of the director and comparable market statistics for the relevant year. Mr. Feng's remuneration was determined based on the remuneration standards approved by the Remuneration Committee of the Company, and taking into account his experience and responsibilities and prevailing market standards.

Save as described above, the Board is not aware of any matter in relation to Mr. Feng that is required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited or any other matter that needs to be brought to the attention of the shareholders in relation to his appointment.

For and on behalf of the Board of

Sinofert Holdings Limited

QIN Hengde

Executive Director and Chief Executive Officer

Hong Kong

25 February 2020

As at the date of this announcement, the executive directors of the Company are Mr. Qin Hengde (Chief Executive Officer), Mr. Feng Mingwei and Mr. Harry Yang; the non-executive director of the Company is Mr. Yang Lin; and the independent non-executive directors of the Company are Mr. Ko Ming Tung, Edward, Mr. Lu Xin and Mr. Tse Hau Yin, Aloysius.

• For identification purposes only

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