Haichang Ocean Park : CHANGE OF NON-EXECUTIVE DIRECTORS

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HAICHANG OCEAN PARK HOLDINGS LTD.

ऎ׹ऎݱʮ෤છٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2255)

CHANGE OF NON-EXECUTIVE DIRECTORS

The Board announces that with effect from 27 August 2018:

• (i) Mr. Makoto Inoue has tendered his resignation as a non-executive Director; and

• (ii) Mr. Li Hao has been appointed as a non-executive Director.

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors ("the Director(s)") of Haichang Ocean Park Holdings Ltd. (the "Company") hereby announces that Mr. Makoto Inoue ("Mr. Inoue") has tendered his resignation as a non-executive Director with effect from 27 August 2018 due to his other career commitments.

Mr. Inoue will no longer take any position in the Company upon his resignation.

Mr. Inoue has confirmed that he has no disagreement with the Board and he is not aware of other matters that should be brought to the attention of the shareholders ("Shareholders") of the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") in connection with his resignation. The Board is also not aware of any such matters that should be brought to the attention of the Stock Exchange and the Shareholders.

The Board would like to take this opportunity to express its appreciation for the valuable contribution of Mr. Inoue to the Company during his tenure of service.

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board also announces that Mr. Li Hao ("Mr. Li") has been appointed as a non-executive Director with effect from 27 August 2018.

Mr. Li Hao, aged 36, graduated from the Graduate School of Finance, Accounting and Law at Waseda University in Japan with a Master's degree in business administration for finance. Mr. Li has more than 10 years of managing experience in the fields of investment banking and finance. Mr. Li has been with ORIX Corporation since October 2007. He is currently the Managing Director of Greater China Division, East Asia Business Headquarters at ORIX Corporation, a diversified financial services company and whose shares are listed on the Tokyo Stock Exchange (securities code: 8591) and on the New York Stock Exchange (trading symbol: IX). He serves as the director and president of ORIX (China) Investment Company Limited and ORIX Asia Capital Limited, respectively, both of which are wholly-owned subsidiaries of Orix Group. According to the latest disclosure of interest form filed on 28 January 2016 from ORIX Corporation, ORIX Corporation is the substantial Shareholder of the Group. Mr. Li is also a non-executive director of Panda Green Energy Group Limited (Stock Code: 686), a company listed on the Main Board of the Stock Exchange.

Mr. Li entered into a director's service agreement with the Company. His appointment commenced on 27 August 2018 for a term of three years. Under the director's service agreement, the total amount of director's remuneration payable to Mr. Li is RMB180,000 per annum (or pro rata amount for any incomplete year), which was determined by the Board with reference to his experience, qualifications, duties and responsibilities in the Company, as well as the current market conditions. In accordance with the Company's articles of association, Mr. Li is subject to retirement by rotation and re-election and that he shall hold office until the forthcoming general meeting and shall then be eligible for re-election at that general meeting.

Save as disclosed above, Mr. Li: (1) does not have any interests in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong); (2) has not held any other positions in the Company or any of its subsidiaries; (3) has not been a director of any public company (the securities of which are listed on any securities market in Hong Kong or overseas) in the last three years; (4) does not have any other major appointments and professional qualifications; and (5) does not have any relationship with any Director, senior management or substantial or controlling Shareholder of the Company.

Mr. Li has confirmed that, save for the information set out above, there is no other information that is required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on the Stock Exchange, and there is no other matter relating to his appointment that needs to be brought to the attention of the Shareholders.

The Board would like to express its warmest welcome to Mr. Li on his appointment.

By Order of the Board Haichang Ocean Park Holdings Ltd.

Wang Xuguang

Executive Director and Chief Executive Officer

Shanghai, the People's Republic of China, 27 August 2018

As at the date of this announcement, the executive Directors are Mr. Wang Xuguang, Mr. Qu Cheng and Mr. Gao Jie; the non-executive Directors are Mr. Qu Naijie, Mr. Li Hao and Mr. Yuan Bing; and the independent non-executive Directors are Mr. Chen Guohui, Mr. Sun Jianyi and Ms. Zhang Meng.