Venus Medtech Hangzhou : INSIDE INFORMATION ANNOUNCEMENT APPROVAL BY CSRC OF THE COMPANY'S APPLICATION FOR THE FULL CIRCULATION OF SHARES

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.

杭州啓明醫療器械股份有限公司

Venus Medtech (Hangzhou) Inc.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2500)

INSIDE INFORMATION ANNOUNCEMENT

APPROVAL BY CSRC OF THE COMPANY'S APPLICATION

FOR THE FULL CIRCULATION OF SHARES

This announcement is made by Venus Medtech (Hangzhou) Inc. (the "Company") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements (the "Announcements") of the Company dated June 15, 2020 and June 22, 2020 in relation to the Company's application for the full circulation of its shares and the acceptance of such application by the China Securities Regulatory Commission (the "CSRC") respectively. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

The Company is pleased to inform the shareholders and potential investors of the Company that on August 14, 2020, the Company received the formal approval (the "Approval") from the CSRC of the Application. Under the Approval, the Company is allowed to convert an aggregate of 221,752,871 domestic unlisted shares into overseas-listed shares that are eligible to be listed and traded on the Main Board of the Stock Exchange, and the listing of such shares on the Stock Exchange (the "Conversion and Listing"). The Approval shall be valid for 12 months from August 11, 2020.

The Company will make further announcements on the progress and details of the Conversion and Listing as and when appropriate.

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Completion of the Conversion and Listing is subject to the performance of other relevant procedures required by the CSRC, the Stock Exchange and other relevant onshore and offshore regulatory authorities. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Venus Medtech (Hangzhou) Inc.

Min Frank Zeng

Chairman

Hangzhou, August 14, 2020

As at the date of this announcement, the executive Directors are Mr. Min Frank Zeng, Mr. Zhenjun Zi and Mr. Lim Hou-Sen (Lin Haosheng); the non-executive Director is Ms. Nisa Bernice Wing-Yu Leung; and the independent non-executive Directors are Mr. Ting Yuk Anthony Wu, Mr. Wan Yee Joseph Lau and Mr. Chi Wai Suen.

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