Zhongguancun Science Tech Leasing : VOLUNTARY ANNOUNCEMENT - ISSUANCE OF ASSET-BACKED SECURITIES

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中 關 村 科 技 租 賃 股 份 有 限 公 司

ZHONGGUANCUN SCIENCE-TECH LEASING CO., LTD.

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

(Stock Code: 1601)

VOLUNTARY ANNOUNCEMENT

ISSUANCE OF ASSET-BACKED SECURITIES

This announcement is made by Zhongguancun Science-Tech Leasing Co., Ltd. (the "Company") on a voluntary basis.

ISSUANCE OF ASSET-BACKED SECURITIES

Reference are made to the supplemental notice of annual general meeting of the Company dated June 5, 2020 and the poll results announcement of the Company dated June 24, 2020 in relation to, among other things, the general mandate to issue bonds and asset securitization products of the Company. The Board (the "Board") of directors (the "Director(s)") of the Company is pleased to announce that the establishment of the "Zhongguancun Science-Tech Leasing the Fifth Asset-backed Securities Program" (the "ABS Program") was completed on September 9, 2020, of which Capital Securities Co., Ltd., an independent third party of the Company and its connected person (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited), is the manager of the ABS Program. The relevant record filing procedure with the Asset Management Association of China is expected to be completed within 5 working days after the establishment of the ABS Program.

Under the ABS Program, the Company has issued asset-backed securities (the "ABS") backed by the account receivables in respect of the finance lease receivables sold to qualified investors in the People's Republic of China (the "PRC"). The total issue size of the ABS Program is RMB574,000,000 and the ABS have been listed and circulated on the Shenzhen Stock Exchange since September 9, 2020.

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The ABS are classified into four tranches according to their risks, earnings and duration, which are briefly summarised as follows:

		Credit
		rating by an
		independent
	Size of	credit rating		Expected	Coupon
Tranche	issuance	agency	Tenure	maturity date	rate
	(RMB'000)
Senior A1 ABS	300,000	AAA	1.75 years	June 8, 2022	4.10%
Senior A2 ABS	126,000	AAA	2.5 years	March 8, 2023	4.20%
Senior B ABS	130,000	AAA	3 years	September 8, 2023	4.10%
Subordinated ABS	18,000	-	-	-	-

The proceeds from the issuance of the ABS will be used for general working capital purposes of the Company. The Board believes that the issuance of the ABS under the ABS Program will widen the fund-raising channels of the Company and improve the financing structure of the Company.

GENERAL

The Board is of a view that the issuance of the ABS will not cause any material adverse financial impact on the Company, and in particular, it will not cause any material adverse impact on the interests of the shareholders of the Company (the "Shareholders"). As such, the Board is of the view that the transaction contemplated under the issuance of the ABS is not of a price-sensitive nature and this announcement is made for the general information of the Shareholders.

The credit ratings in relation to the senior ABS mentioned herein are strictly for information purposes only. Such ratings do not constitute a recommendation to buy, sell or hold any securities of the Company.

Shareholders and potential 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, the Shareholders and potential investors of the Company are advised to seek professional advice from their own professional or financial advisers.

By order of the Board

Zhongguancun Science-Tech Leasing Co., Ltd.

DUAN Hongwei

Chairman

Beijing, the PRC, September 9, 2020

As at the date of this announcement, the Board comprises Mr. HE Rongfeng and Mr. HUANG Wen as executive Directors, Mr. DUAN Hongwei, Mr. LOU Yixiang, Mr. ZHANG Shuqing and Mr. LI Peng as non-executive Directors, and Mr. CHENG Dongyue, Mr. WU Tak Lung and Ms. LIN Zhen as independent non-executive Directors.

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