China Oceanwide : ANNOUNCEMENT UNDER RULE 13.18 OF THE LISTING RULES - FACILITY AGREEMENT IMPOSING SPECIFIC PERFORMANCE OBLIGATION ON CONTROLLING SHAREHOLDER

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 715)

ANNOUNCEMENT UNDER RULE 13.18 OF THE LISTING RULES

FACILITY AGREEMENT IMPOSING SPECIFIC

PERFORMANCE OBLIGATION

ON CONTROLLING SHAREHOLDER

This announcement is made by the Company pursuant to Rule 13.18 of the Listing Rules with respect to the US$135,000,000 (equivalent to approximately HK$1,048.6 million) Facility Agreement entered into between the Company and a licensed bank in the PRC on 22 January 2020 which contains, among other things, specific performance obligation on the Controlling Shareholder.

This announcement is made by the board (the "Board") of directors of China Oceanwide Holdings Limited (the "Company") in compliance with the requirement under Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

FACILITY AGREEMENT

On 22 January 2020, the Company entered into a facility agreement (the "Facility Agreement") with a licensed bank in the People's Republic of China (the "PRC") (the "Bank", as lender) relating to a US$135,000,000 (equivalent to approximately HK$1,048.6 million) facility (the "Facility"). The Facility has a term of two years. The purpose of the Facility is to repay the shareholder's loan owed to China Oceanwide Group Limited, an intermediate holding company of the Company.

- 1 -

SPECIFIC PERFORMANCE OBLIGATION

As one of the conditions of the Facility, Oceanwide Holdings Co., Ltd.* (the "Controlling Shareholder"), the controlling shareholder of the Company, shall procure its savings and respective interests (equivalent to the outstanding loan amount or more) in the Bank as security for the Facility, the breach of which the outstanding loan amount of the Facility shall trigger mandatory repayment obligation on the part of the Company. Such specific performance obligation imposed on the Controlling Shareholder under the Facility Agreement is required to be disclosed by the Company pursuant to Rule 13.18 of the Listing Rules. As at the date of this announcement, the Controlling Shareholder indirectly holds approximately 74.94% of the entire issued share capital of the Company.

The Company will make continuing disclosure in its subsequent annual and interim reports for so long as the above specific performance obligation continue to exist pursuant to the requirements under Rule 13.21 of the Listing Rules.

By order of the board

China Oceanwide Holdings Limited

Han Xiaosheng

Chairman

Hong Kong, 3 February 2020

As at the date of this announcement, the Board comprises:

Executive Directors:		Independent Non-Executive Directors:
Mr. HAN Xiaosheng	(Chairman)	Mr. LIU Jipeng
Mr. LIU Hongwei	(Deputy Chairman)	Mr. YAN Fashan
Mr. LIU Bing		Mr. LO Wa Kei Roy
Mr. ZHANG Xifang
Mr. LIU Guosheng

Non-Executive Director:

Mr. ZHAO Yingwei

Unless otherwise specified, conversion of US$ to HK$ in this announcement is based on the exchange rate of US$1.00=HK$7.7674 for illustration purpose only. No representation is made that any amounts in US$ or HK$ can be or could have been converted at the relevant dates at the above rate or any other rates at all.

• for identification purpose only

- 2 -