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.

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.

(incorporated in Hong Kong with limited liability)

(Stock code: 1668)

Voluntary Announcement

Repurchase and Cancellation of Parts of the Senior Notes

Reference is made to the announcement of China South City Holdings Limited (the "Company") on 8 June 2020 and the other announcements mentioned therein (collectively, the "Announcements"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcements.

The Company made on-market repurchase of parts of senior notes in an aggregated principal amount of US$10,000,000, representing approximately 3.33% of the initial principal amount of November 2022 Notes (the "Repurchased Notes"), which will be cancelled later.

After the cancellation of the above Repurchased Notes, the outstanding principal amount of November 2022 Notes would be US$276,500,000.

The repurchase of the abovementioned notes, conducted based on the market condition and the company's debt structure, will improve the Company's debt structure. The Company will continue to monitor the market condition, its financial structure and may further repurchase senior notes as when appropriate.

Noteholders and potential investors should note that whether any purchase of the notes from time to time by the Company will be at the Board's sole and absolute discretion. There is no assurance of the timing, amount or price of any purchase of the notes, nor does it guarantee that the Company will purchase more notes. Noteholders and potential investors should therefore exercise caution when dealing in any notes.

For and on behalf of the Board

China South City Holdings Limited

CHENG Chung Hing

Chairman and Executive Director

Hong Kong, 17 September 2020

As at the date of this announcement, the executive directors of the Company are Mr. Cheng Chung Hing, Mr. Zhao Lidong, Mr. Wu Guangquan 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, GBS, SBS, JP, Mr. Li Wai Keung, Mr. Hui Chiu Chung, JP and Mr. Yung Wing Ki Samuel, SBS, MH, JP.

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China South City Holdings Ltd. published this content on 17 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2020 10:39:03 UTC