Newtree : VOLUNTARY ANNOUNCEMENT - COMPLETION OF THE DISPOSAL OF DIGITAL TECHNOLOGY BUSINESS SEGMENT

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.

Huasheng International Holding Limited

華 盛 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1323)

VOLUNTARY ANNOUNCEMENT -

COMPLETION OF THE DISPOSAL OF

DIGITAL TECHNOLOGY BUSINESS SEGMENT

This is a voluntary announcement made by Huasheng International Holding Limited (the "Company", together with its subsidiaries, the "Group") to provide updated development of the Group to the shareholders and potential investors of the Company.

The board (the "Board") of the directors (the "Directors") of the Company announces that on 15 June 2020, an indirectly wholly-owned subsidiary of the Company, entered into a sale and purchase agreement (the "Agreement") with the purchaser, who is an independent third party to the Group, to dispose the entire issued share capital in Sino Digital Media (Overseas) Limited ("Sino Digital", together with its subsidiaries, the "Sino Digital Group"),

1. wholly-ownedsubsidiary of the Company, at a total consideration of HK$30.0 million (the "Disposal"). Sino Digital Group is principally engaged in the provision of digital technology services. The completion of the Disposal took place on 27 July 2020. Following the completion of the Disposal, the Company ceased to have any interest in the Sino Digital Group and the financial information of the Sino Digital Group would no longer be consolidated into the financial statements of the Group.

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As none of the applicable percentage ratio in respect of the Agreement and the transactions contemplated thereunder exceeds 5%, the Agreement does not constitute a notifiable transaction under Chapter 14 of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited.

For and on behalf of

Huasheng International Holding Limited

Wong Wai Sing

Chairman and Executive Director

Hong Kong, 27 July 2020

As at the date of this announcement, the executive Directors are Mr. Wong Wai Sing, Mr. Chan Kin Lung and Mr. Wong Jeffrey; and the independent non-executive Directors are Mr. Kwok Kam Tim and Mr. Tso Ping Cheong, Brian.

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