Mingyuan Medicare Development : QUARTERLY UPDATE ON TRADING SUSPENSION

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.

MINGYUAN MEDICARE DEVELOPMENT COMPANY LIMITED

銘 源 醫 療 發 展 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock code: 0233)

QUARTERLY UPDATE ON TRADING SUSPENSION

This announcement is made by Mingyuan Medicare Development Company Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) and 13.24A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to:

1. the announcement dated 15 July 2015 regarding the resumption conditions (the "Resumption Conditions") imposed on the Company;
2. the announcement dated 18 April 2019 regarding further resumption guidance (the "Further Resumption Guidance");
3. the announcements dated 10 August 2018, 6 November 2018, 11 February 2019, 2 May 2019 and 2 August 2019 on the updates on trading suspension (the "Quarterly Updates"); and
4. the announcement dated 3 September 2019 on the review request of decision on cancellation of listing.

Terms defined in the aforementioned announcements shall have the same meaning herein unless otherwise defined or the context otherwise required.

* For identification purpose only

- 1 -

UPDATE ON RESUMPTION CONDITIONS

The Company and the Listing Committee had exchanged their respective written submissions for the Company's application for a review of the Delisting Decision, and the hearing of such application is fixed for 18 December 2019 at 4:30 p.m..

UPDATE ON BUSINESS OPERATION

As at the date of this announcement, GPSZ has been carrying on its business as usual. In relation to the business operated/controlled by the two Shanghai subsidiaries, Shanghai HealthDigit and SHMY Biochip, the Board does not have sufficient information on their operation given that the Company is still in the process of getting full control over these two key subsidiaries.

CONTINUED SUSPENSION OF TRADING

The Company will keep its shareholders and potential investors informed of any material development in connection with the resumption progress and the Review Application, by way of quarterly announcements and/or further announcements as and when appropriate.

Trading in the shares on the Stock Exchange will remain suspended until further notice.

By Order of the Board

Mingyuan Medicare Development Company Limited

LAM Ping Cheung

Chairman

Hong Kong, 7 November 2019

As at the date of this announcement, the Board comprises (i) Mr. Lam Ping Cheung and Mr. Hui Yip Wing as executive Directors and (ii) Ms. Chan Mee Sze, Mr. Lam Suk Ping, Ms. Fan Stephanie Winnie and Mr. Cheung Chi Ming as independent non-executive Directors.

- 2 -