Hengtai Securities : INSIDE INFORMATION - ANNOUNCEMENT ON THE PROGRESS OF DISPOSAL OF SHARES BY SUBSTANTIAL SHAREHOLDERS

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.

恒 投 證 券

HENGTOU SECURITIES

(A joint stock company incorporated in the People's Republic of China with limited liability under the Chinese corporate name " 恒 泰 證 券 股 份 有 限 公 司" and carrying on business in Hong Kong as " 恒 投 證 券" (in Chinese) and "HENGTOU SECURITIES" (in English))

(the "Company")

(Stock Code: 01476)

INSIDE INFORMATION

ANNOUNCEMENT ON THE PROGRESS OF DISPOSAL OF

SHARES BY SUBSTANTIAL SHAREHOLDERS

This announcement is made by the Company pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the Company's announcement dated 9 March 2020 in relation to the Company's receipt of the Reply on Approval for the Change of Shareholders

Holding More Than 5% Equity Interest of Hengtai Securities Co., Ltd. (Zheng Jian Xu Ke [2020] No. 344) 《( 關 於 核 准 恒 泰 證 券 股 份 有 限 公 司 變 更 持 有5% 以 上

股 權 的 股 東 的 批 覆》( 證 監 許 可[2020]344 號)) from China Securities Regulatory Commission. The principal contents of which include the approval of the qualification of shareholder and substantial shareholder of Tianfeng Securities Co., Ltd. ("Tianfeng Securities") holding more than 5% equity interest in the Company, and that there was no objection to the lawful transfer to Tianfeng Securities of 532,299,681 shares of the Company, representing 20.43% of the total issued shares of the Company.

As at the date of this announcement, the transfer procedures of the lawful transfer to Tianfeng Securities of 532,299,681 shares of the Company, representing 20.43% of the total issued shares of the Company, had been completed. The plan of Tianfeng Securities to acquire 29.99% of the equity interest of the Company has not changed, and the remaining 9.56% of the equity interest acquisition will be transferred in an orderly manner.

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The Company will keep its shareholders and potential investors informed of further development in connection with the relevant matters by way of further announcement(s) as and when appropriate or necessary.

By order of the Board

Pang Jiemin

Chairman

Beijing, PRC

12 March 2020

As at the date of this announcement, the Board comprises Mr. Pang Jiemin and Mr. Wu Yigang as executive Directors; Mr. Yu Lei, Mr. Wang Linjing, Ms. Dong Hong and Ms. Gao Liang as non-executive Directors; and Dr. Lam Sek Kong, Mr. Xie Deren and Mr. Dai Genyou as independent non-executive Directors.

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