China First Capital : BUSINESS UPDATE ACQUISITION OF STIRLING COLEMAN CAPITAL LIMITED

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CHINA FIRST CAPITAL GROUP LIMITED

中國首控集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1269) BUSINESS UPDATE ACQUISITION OF STIRLING COLEMAN CAPITAL LIMITED

The board of directors ("Board") of China First Capital Group Limited (the "Company", together with its subsidiaries, the "Group") is pleased to provide an up-date on the development of the financial service business of the Group.

THE ACQUISITION

CFCG Investment Partners International (Singapore) Pte. Ltd., a wholly-owned subsidiary of the Company, has on 4 July 2017 completed its acquisition of 100% of the shares of Stirling Coleman Capital Limited ("Stirling Coleman") from vendors which are independent third parties for cash consideration.

INFORMATION OF STIRLING COLEMAN

Stirling Coleman is an independent corporate finance advisory firm which offers a broad range of corporate finance services to small and medium-sized enterprises ("SME") including initial public offerings and follow-on offerings on Singapore Stock Exchange, independent financial advisory for Singapore listed companies, advice on mergers and acquisitions ("M&A") of both listed and privately owned companies in and outside Singapore. Stirling Coleman is licensed by Monetary Authority of Singapore to conduct regulated financial activities in dealing in securities and advising on corporate finance in Singapore. Founded in 2001 by experienced professionals in finance and equity capital market, Stirling Coleman has completed more than 100 transactions to-date and is one of the leading advisers to SME in the Singapore equity capital market. Headquartered in Singapore, Stirling Coleman has representative offices in Shanghai in China, Tokyo in Japan and Bangkok in Thailand.

REASONS FOR AND BENEFITS OF THE ACQUISITION

With the focus on the Belt and Road Initiative, the Group intends to expand its financial service platform into Southeast Asia which has a combined population of more than 640 million. The Group believes that Singapore is a strategic financial and capital market gateway to Southeast Asia, as it is also a major global financial centre.

The Group anticipates increased China, Hong Kong and/or Singapore trade, financing and other capital market deal flows and activities. There will likely be greater opportunities to bring high quality assets from North Asia to tap the capital markets in Singapore and Southeast Asia, and increased cross-border M&A activities in Asia. With Stirling Coleman's established presence and strong track record in Singapore, the Group has an immediate platform to expand its financial services and offerings in the Singapore equity capital market.

By order of the Board

China First Capital Group Limited Wilson Sea

Chairman and Executive Director

Hong Kong, 4 July 2017

As at the date of this announcement, the Company's executive directors are Mr. Wilson Sea, Mr. Zhao Zhijun, Mr. Tang Mingyang, Mr. Yan Haiting and Ms. Li Dan; the Company's non-executive director is Mr. Li Hua; and the Company's independent non-executive directors are Mr. Chu Kin Wang, Peleus, Mr. Li Zhiqiang and Mr. Chen Gang.