Huishang Bank : Announcements and Notices - Latest Update on the A Share Offering

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.

徽 商 銀 行 股 份 有 限 公 司 *

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

This announcement is made by Huishang Bank Corporation Limited (the "Bank") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the Bank's announcements dated May 5, 2015, June 29, 2015, September 24,

2015, March 28, 2016 and circulars dated May 13, 2015 and April 12, 2016, in relation to, among others, the Bank's initial public offering of A shares (the "A Share Offering") and the related resolutions.

As further negotiations with some of the Bank's directors and shareholders on certain matters stipulated by relevant laws and regulations and requests of the China Securities Regulatory Commission (the "CSRC") are needed and considering that the tenure of service of the Bank's current auditors has reached the maximum time limit and a replacement is needed, after careful study and consultation with its sponsors, on March 23, 2017, the board of directors of the Bank (the "Board") passed a resolution to apply to the CSRC to suspend the review process of the A Share Offering. The Bank and its sponsors have submitted an application to the CSRC for the suspension of the review process of the A Share Offering on March 27, 2017. Such application for the suspension of the review is still pending approval by the CSRC.

The Bank will continue actively updating all documents needed to be filed in connection with the A Share Offering and communicating and coordinating with the CSRC and the sponsors. An application will be made to the CSRC for the resumption of the review process of the A Share Offering at the earliest possible time as and when appropriate. The Board also resolved to authorize the Bank's chairman (and persons authorized by him) to handle any matters relating to the applications for the suspension and resumption of the review process of the A Share Offering, including but not limited to deciding, signing and executing the relevant documents and making relevant announcements and circulars in respect of the applications for suspension and resumption of the review process of the A Share Offering. In addition, to ensure the Bank's A Share Offering could continue to proceed, the Board will propose to the Bank's shareholders at the 2016 annual general meeting relevant resolutions in connection with the A Share Offering, including the extension of the validity periods of the A Share Offering plan and the authorizations granted to the Board to deal with specific matters related to the A Share Offering etc. Further details will be disclosed in the circular for the 2016 annual general meeting published by the Bank in due course.

Further announcement(s) will be made by the Bank regarding the material progress of the A Share Offering as and when appropriate.

By order of the Board

Chairman

Hefei, Anhui, China March 27, 2017

As at the date of this announcement, the Board of the Bank comprises Li Hongming, Wu Xuemin and Ci Yaping as executive directors; Zhang Feifei, Zhu Jiusheng, Qian Li, Lu Hui, Zhao Zongren, Qiao Chuanfu and Gao Yang as non-executive directors; Au Ngai Daniel, Dai Genyou, Wang Shihao, Zhang Shenghuai and Zhu Hongjun as independent non-executive directors.

* Huishang Bank Corporation Limited is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking/deposit-taking business in Hong Kong.