China South City : Completion of the Further Issuance of US$50,000,000 11.95% Senior Notes Due 2023

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This announcement is not for distribution, directly or indirectly, in or into the United States. This announcement and the information contained herein does not constitute or form part of an offer to sell securities in the United States. Securities may not be offered or sold in the United States unless registered pursuant to the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to an applicable exemption from such registration requirement. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about our company and management, as well as financial statements. The securities referred to herein have not been and will not be registered under the Securities Act and no public offering of securities will be made in the United States. No money, securities or other consideration is being solicited by this announcement or the information contained herein and, if sent in response to this announcement or the information contained herein, will not be accepted.

(incorporated in Hong Kong with limited liability)

(Stock code: 1668)

Completion of the Further Issuance of US$50,000,000

11.95% Senior Notes Due 2023

Reference is made to the announcement of China South City Holdings Limited (the"Company") dated 17 March 2021 (the "Announcement") in relation to the further issuance of US$50,000,000 11.95% senior notes due 2023 (the "Notes Issue"). All terms used herein have the same meaning as defined in the Announcement, unless otherwise defined.

The Board hereby announces that the Notes Issue has been completed on 22 March 2021. Please refer to the offering memorandum (the "Offering Memorandum") in relation to the Notes Issue, which will be published on the website of the Singapore Exchange Securities Trading Limited.

The Offering Memorandum does not constitute a prospectus, notice, circular, brochure, advertisement or document offering to sell any securities to the public in any jurisdiction, nor is it an invitation to the public to make offers to subscribe for or purchase any securities, nor is it calculated to invite offers by the public to subscribe for or purchase any securities.

The Offering Memorandum must not be regarded as an inducement to subscribe for or purchase any securities of the Company, and no such inducement is intended. No investment decision should be based on the information contained in the Offering Memorandum.

For and on behalf of the Board China South City Holdings Limited

CHENG Chung Hing Chairman & Executive Director

Hong Kong, 23 March 2021

As at the date of this announcement, the executive directors of the Company are Mr. Cheng Chung Hing, Mr. Zhao Lidong and Ms. Cheng Ka Man Carman; the non-executive directors of the Company are Mr. Cheng Tai Po and Mr. Lin Ching Hua; and the independent non-executive directors of the Company are Mr. Leung Kwan Yuen Andrew, GBM, GBS, JP, Mr. Li Wai Keung and Mr. Hui Chiu Chung, JP.