General Announcement::UPDATE ON 10.5% SENIOR NOTES DUE 2021

The Singapore Exchange Securities Trading Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. This announcement is for information purposes only and is not an offer to sell or the solicitation of an offer to acquire, purchase or subscribe for securities and neither this announcement nor anything herein forms the basis for any contract or commitment whatsoever.

Sunshine 100 China Holdings Ltd

陽光100中國控股有限公司

(Incorporated in the Cayman Islands with limited liability)

UPDATE ON 10.5% SENIOR NOTES DUE 2021

(ISIN NO.: XS1833288597, COMMON CODE: 183328859)

UPDATE ON 10.5% SENIOR NOTES DUE 2021

Reference is made to the listing confirmation dated 5 December 2018 relating to the 10.5% Senior Notes Due 2021 issued by of Sunshine 100 China Holdings Ltd (the "Company") and listed on the Singapore Exchange Securities Trading Limited (ISIN No.: XS1833288597, Common Code: 183328859) (the "Notes") and the announcement of the Company dated 11 August 2021 in relation to the cross default triggered by default in payment of the principal and premium on the convertible bonds due on 11 August 2021.

Pursuant to the provisions of the Notes and the indenture of the Notes, all outstanding principal amount of the Notes and any accrued but unpaid interest thereon falls due on 5 December 2021. However, owing to liquidity issues arising from the adverse impact of a number of factors including the macroeconomic environment and the real estate industry, the Company is not able to repay the principal amount of the Notes and the accrued but unpaid interest thereon. As a result, an event of default (an "Event of Default") has taken place.

The Event of Default will also trigger cross default provisions under certain other debt instruments, including those disclosed in the announcement of the Company dated 11 August 2021, entered into by the Company and its subsidiaries which may become immediately due and payable if the creditors choose to accelerate. As at the date of this announcement, the Company has not received any notice regarding action to accelerate by any creditors.

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As at the date of this announcement, the total outstanding principal of the Notes is US$170 million and the total accrued and unpaid interest on the Notes is US$8,925,000. The Company has been proactively communicating with the holders of the Notes (the "Holders") to reach a repayment extension or other repayment arrangements with such Holders as soon as possible.

The Company will issue further announcement with respect to its actions taken in response to the Event of Default as and when required in accordance with applicable laws, regulations and rules.

Holders of the Notes and other investors of the Company are advised not to rely solely on the information contained herein and should exercise caution when dealing in the securities of the Company. When in doubt, holders of the Notes and other investors of the Company are advised to seek professional advice from their own professional or financial advisers.

By Order of the Board

Sunshine 100 China Holdings Ltd

Yi Xiaodi

Chairman and Executive Director

Beijing, the PRC

6 December 2021

As at the date of this announcement, the executive directors of the Company are Mr. Yi Xiaodi and Mr. Fan Xiaochong, the non-executive directors of the Company are Ms. Fan Xiaohua and Mr. Wang Gongquan, and the independent non-executive directors of the Company are Mr. Gu Yunchang, Mr. Ng Fook Ai, Victor and Mr. Wang Bo.

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