Suncity : (1) CHANGE OF AUDITOR; AND (2) RESIGNATIO…

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SUNCITY GROUP HOLDINGS LIMITED

太陽城集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1383)

1. CHANGE OF AUDITOR; AND
2. RESIGNATION OF EXECUTIVE DIRECTOR

The Board announces that with effect from 20 July 2017:

1. Andes Glacier CPA Limited has resigned as the auditor of the Group and the Board has resolved to appoint Deloitte as the auditor of the Group to fill the casual vacancy following the resignation of Andes Glacier CPA Limited and to hold office until the conclusion of the forthcoming annual general meeting of the Company.

2. Ms. Yeung So Mui has resigned as the executive Director.

CHANGE OF AUDITOR

The board (the "Board") of directors (the "Director(s)") of Suncity Group Holdings Limited (the "Company") announces that Andes Glacier CPA Limited has resigned as the auditor of the Company and its subsidiaries (the "Group") with effect from 20 July 2017 and the Board has resolved to appoint Deloitte Touche Tohmatsu ("Deloitte") as the auditor of the Group to fill the casual vacancy following the resignation of Andes Glacier CPA Limited and to hold office until the conclusion of the forthcoming annual general meeting of the Company.

For the purpose of enhancing the Company's public image and as part of the Company's investors relation strategy, the Board considers that the Company should engage one of the Big Four accounting firms, the internationally well-known professionals to be the Company's auditor. Therefore, the Company proposed to appoint Deloitte as its auditor for the year ending 31 December 2017.

Andes Glacier CPA Limited has confirmed that there are no circumstances connected with its resignation which it considers should be brought to the notice of the shareholders or creditors of the Company. The Board confirms that Andes Glacier CPA Limited has not commenced any audit work on the financial statements of the Group for the financial year ending 31 December 2017. The Board and the audit committee of the Company also confirm that there is no disagreement or outstanding matter between the Company and Andes Glacier CPA Limited.

The Board and Andes Glacier CPA Limited have confirmed that there are no matters or circumstances in connection with the change of auditor that need to be brought to the attention of the shareholders and creditors of the Company.

The Company would like to take this opportunity to express its gratitude to Andes Glacier CPA Limited for its professional services and support rendered to the Company in the past years.

RESIGNATION OF EXECUTIVE DIRECTOR

The Board further announces that Ms. Yeung So Mui ("Ms. Yeung") has resigned as an executive Director of the Company with effect from 20 July 2017 due to Ms. Yeung wishes to devote more time for her personal commitment.

Ms. Yeung has confirmed that she has no disagreement with the Board and there are no matters relating to her resignation that need to be brought to the attention of the shareholders of the Company and/or the Stock Exchange of Hong Kong Limited.

By order of the Board

Suncity Group Holdings Limited Chau Cheok Wa

Chairman

Hong Kong, 20 July 2017

As at the date of this announcement, the executive Directors are Mr. Chau Cheok Wa, Mr. Lo Kai Bong, Mr. Au Chung On John and Mr. Manuel Assis Da Silva; and the independent non-executive Directors are Mr. Tou Kin Chuen, Dr. Wu Kam Fun Roderick and Mr. Lo Wai Tung John.