Xinming China : EXTENSION OF LONG STOP DATE OF ISSUE OF NEW SHARES UNDER GENERAL MANDATE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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.

Xinming China Holdings Limited

新明中國控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2699)

EXTENSION OF LONG STOP DATE

OF ISSUE OF NEW SHARES

UNDER GENERAL MANDATE

Reference is made to the announcement of Xinming China Holdings Limited (the "Company") dated 17 June 2020 (the "Announcement") in relation to the acquisition of the entire issued share capital of the Target Company (the "Acquisition"). Unless the context requires otherwise, capitalized terms used herein shall have the same meanings as defined in the Announcement.

Given that additional time is required for fulfilment of the conditions precedent set out in the Agreement, the Buyer and the Seller have entered into the extension letter to the Agreement on 30 July 2020 (after trading hours), whereby the parties agreed to extend the Long Stop Date from 31 July 2020 to 31 December 2020 or such other date as may be agreed between the Buyer and the Seller in writing.

Save and except for the aforesaid extension of the Long Stop Date, all other terms and conditions of the Agreement remain unchanged and shall continue in full force and effect.

Completion of the Acquisition is subject to fulfillment of the conditions precedent set out in the Agreement, and the Acquisition may or may not proceed to Completion. Shareholders and potential investors are reminded to exercise caution when dealing in the securities of the Company.

By order of the Board

Xinming China Holdings Limited

Chen Chengshou

Chairman and Chief Executive Officer

Hong Kong, 30 July 2020

As at the date of this announcement, the executive Directors are Mr. Chen Chengshou, Mr. Feng Cizhao and Mr. Pu Wei; the non-executive Directors are Ms. Gao Qiaoqin and Mr. Chou Chiu Ho; and the independent non-executive Directors are Mr. Fong Wo, Felix, Mr. Gu Jiong and Mr. Lo Wa Kei, Roy.