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.

SUNWAH KINGSWAY CAPITAL HOLDINGS LIMITED 新華滙富金融控股有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 00188)

DISCLOSEABLE TRANSACTION ON-MARKET DISPOSALS OF LISTED SECURITIES THE DISPOSALS OF LISTED SECURITIES

During the period from 18 November 2020 to 10 March 2021, the Company, through its wholly-owned subsidiary, conducted on the Stock Exchange a series of on-market transactions to dispose of an aggregate of 642,000 SMIC Shares (representing approximately 0.008% of the total issued SMIC Shares as at the date of this announcement) in the range of an average daily price between HK$19.98 and HK$29.73 per SMIC Share for an aggregate consideration of approximately HK$14,923,100 (exclusive of transaction costs).

LISTING RULES IMPLICATIONS

As one or more of the applicable percentage ratios (as defined in the Listing Rules) in respect of the Disposals exceed 5% but are less than 25%, the Disposals constitute a discloseable transaction of the Company and is therefore subject to the reporting and announcement requirement under Chapter 14 of the Listing Rules.

THE DISPOSALS OF LISTED SECURITIES

During the period from 18 November 2020 to 10 March 2021, the Company, through its wholly-owned subsidiary, conducted on the Stock Exchange a series of on-market transactions to dispose of an aggregate of 642,000 SMIC Shares (representing approximately 0.008% of the total issued SMIC Shares as at the date of this announcement) in the range of an average daily price between HK$19.98 and HK$29.73 per SMIC Share for an aggregate consideration of approximately HK$14,923,100 (exclusive of transaction costs).

As the Disposals were made through the open-market of the Stock Exchange, the Company is not aware of the identities of the buyers of the SMIC Shares and accordingly, to the best knowledge, information and belief of the Directors having made all reasonable enquires, the buyers of such SMIC Shares are Independent Third Parties.

REASONS FOR AND BENEFITS OF THE DISPOSALS

The Group's principal businesses are the provision of financial services, including securities and commodities and futures broking, corporate finance, asset management, money lending, property investment and proprietary investments.

The Disposals provide the Group with an opportunity to realise a portion of its investment in SMIC. The Disposals were made with reference to the prevailing market price at the time of the sale and will enable the Group to realise cash resources to fund general working capital and to fund further potential investments. The Disposals realise a gain of approximately HK$0.6 million, being the difference between the aggregate consideration for the Disposals and the aggregate purchase price of the SMIC Shares sold.

As the Disposals were made at the prevailing market price on the open market of the Stock Exchange, the Directors are of the view that the Disposals were fair and reasonable, on normal commercial terms and in the interest of the Company and its Shareholders as a whole.

INFORMATION ABOUT SMIC

SMIC is a company incorporated in the Cayman Islands with limited liability, the shares of which are listed on the Main Board of the Stock Exchange (Stock Code: 00981). According to publicly available information, SMIC is an investment holding company. The various subsidiaries of SMIC are engaged in the different business activities, such as the computer-aided design, sales and marketing, technical research and development, manufacturing, testing, packaging and trading of integrated circuits and other services, as well as designing and manufacturing semiconductor masks, respectively.

The following financial information is extracted from the public document of SMIC:

For the year ended 31 December

2019

2018

US$

US$

thousands

thousands

Revenue

3,115,672

3,359,984

Profit before tax

182,276

91,687

Profit for the year

158,860

77,211

Total assets

16,437,820

14,424,320

Based on the public documents of SMIC, the consolidated total equity of SMIC as at 31 December 2019 was approximately US$10.198 billion.

LISTING RULES IMPLICATIONS

As one or more of the applicable percentage ratios (as defined in the Listing Rules) in respect of the Disposals exceed 5% but are less than 25%, the Disposals constitute a discloseable transaction of the Company and are therefore subject to the reporting and announcement requirement under Chapter 14 of the Listing Rules.

DEFINITIONS

In this announcement, unless the context otherwise requires, the following terms have the following meanings when used herein.

"Board" "Company"

the board of Directors

Sunwah Kingsway Capital Holdings Limited, a company incorporated in Bermuda and whose shares are listed on the Main Board of the Stock Exchange (Stock Code:00188)

"Director(s)"

directors of the Company

"Disposals"

the disposals by a wholly owned subsidiary of the Company of 642,000 SMIC Shares on the open-market of the Stock Exchange for an aggregate consideration of approximately HK$14,923,100 (exclusive of transactions costs) during the period between 18 November 2020 and 10 March 2021

"Group"

the Company and its subsidiaries

"HK$"

"Hong Kong"

Hong Kong dollars, the lawful currency of Hong Kong the Hong Kong Special Administrative Region of the PRC

"Independent Party(ies)"

Third third party(ies) independent of the Company and the connected persons of the Company

"Listing Rules"

The Rules Governing the Listing of Securities on the Stock Exchange

"PRC"

The People's Republic of China (excluding Hong Kong, Macau Special Administrative Region and Taiwan)

"Shareholder(s)"

Holder(s) of share(s) of the Company

"Stock Exchange"

The Stock Exchange of Hong Kong Limited

"SMIC"

Semiconductor Manufacturing International Corporation, a

company incorporated in the Cayman Islands, whose shares are

listed on the Main Board of the Stock Exchange (Stock Code:

00981)

"SMIC Shares"

the ordinary shares of SMIC

"US$"

United States dollar, the lawful currency of the United States

of America

"%"

per cent

By Order of the Board

Sunwah Kingsway Capital Holdings Limited

Vincent Wai Shun Lai Company Secretary

Hong Kong, 10 March 2021

As at the date of this announcement, the directors of the Company are Jonathan Koon Shum Choi as Chairman, Michael Koon Ming Choi as Chief Executive Officer & Executive Director, Janice Wing Kum Kwan and Lee G. Lam as Non-Executive Directors, Robert Tsai To Sze, Elizabeth Law and Huanfei Guan as Independent Non-Executive Directors.

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Sunwah Kingsway Capital Holdings Ltd. published this content on 10 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2021 09:00:02 UTC.