China Hanking : VOLUNTARY ANNOUNCEMENT THE HIGH-PURITY IRON BUSINESS OF THE COMPANY RESUMED PRODUCTION

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CHINA HANKING HOLDINGS LIMITED

中國罕王控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 03788)

VOLUNTARY ANNOUNCEMENT

THE HIGH-PURITY IRON BUSINESS OF THE COMPANY RESUMED

PRODUCTION

This announcement is made by China Hanking Holdings Limited (the "Company", together with its subsidiaries, collectively the "Group") on a voluntary basis.

The Company is pleased to announce that the Company has completed the technological improvement of its high-purity iron business on schedule, which officially resumed production.

Since mid-April 2019, the production of high-purity iron business has been suspended for technological improvement. At the end of September 2019, the technological improvement has been completed; the annual production capacity of high-purity iron has increased from 560,000 metric tons to 660,000 metric tons, enhancing production efficiency through the adoption of advanced equipment and improved automation. From 2 October 2019 (i.e. the date of ignition of blast furnaces) to the date of this announcement, the production of high-purity iron has been stable.

Leveraging on the advantages of the Group's high-quality iron ore concentrate resources, the Company has become the largest supplier of wind power ductile casting iron in the Chinese market with its high-purity iron business. After the technological improvement, it will further consolidate the market position and improve the profitability of the Group.

By the order of the Board of directors

China Hanking Holdings Limited

Yang Jiye

Chairman and executive director

Shenyang, the PRC, 9 October 2019

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As at the date of this announcement, the executive directors of the Company are Mr. Yang Jiye, Mr. Zheng Xuezhi and Dr. Qiu Yumin; the non-executive directors of the Company are Mr. Kenneth Jue Lee and Mr. Xia Zhuo; and the independent non-executive directors of the Company are Mr. Wang Ping, Dr. Wang Anjian and Mr. Ma Qingshan.

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