Legend : Inside Information Proposed Spin-Off and Separate Listing of a Subsidiary Levima Advanced Materials Corporation on the Shenzhen Stock Exchange Latest Update on the Proposed Initial Offering and Listing of A-Shares

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聯想控股股份有限公司

Legend Holdings Corporation

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 03396)

Inside Information

Proposed Spin-Off and Separate Listing of a Subsidiary

Levima Advanced Materials Corporation on the Shenzhen Stock Exchange Latest Update on the Proposed Initial Offering and Listing of A-Shares

Reference is made to the announcement of Legend Holdings Corporation (the "Company") dated June 10, 2019, in respect of the proposed spin-off of Levima Advanced Materials Corporation ("Levima Advanced Materials"), a subsidiary of the Company, and the application for its proposed initial offering and listing of A-shares (the "Proposed Issue") on the SME Board of the Shenzhen Stock Exchange (the "SSE").

The board of directors of the Company is pleased to announce that, the application made by Levima Advanced Materials in relation to the Proposed Issue on the SSE was approved at the 138th meeting in 2020 of the 18th session of the Public Offering Review Committee held on September 17, 2020. The review result was published on the website of the China Securities Regulatory Commission (the "CSRC").

Levima Advanced Materials is yet to receive the approval documents in writing from the CSRC, and the Proposed Issue remains subject to certain conditions precedent. Levima Advanced Materials and the underwriter for the Proposed Issue will further discuss and confirm with the SSE regarding the listing timetable of Levima Advanced Materials, and will issue relevant listing documents accordingly.

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Shareholders and potential investors of the Company should note that the Proposed Issue remains subject to the formal written approval of the CSRC regarding the initial public offering, as well as the review and approval of the SSE. The Proposed Issue is also subject to, among other things, the prevailing market conditions. Therefore, the Company does not guarantee that the Proposed Issue of Levima Advanced Materials will be proceeded, nor is it certain when it will be proceeded. Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company. Any person who is in doubt about his/her/its position or any action to be taken is recommended to consult his/her/its own professional advisers. The Company will comply with the applicable requirements under the Listing Rules to make further announcement(s) on the developments of the Proposed Issue.

By order of the Board

Legend Holdings Corporation

NING Min

Chairman

September 18, 2020

As at the date of this announcement, the Executive Directors of the Company are Mr. NING Min and Mr. LI Peng; the Non-executive Directors are Mr. ZHU Linan, Mr. ZHAO John Huan, Mr. WU Lebin, Mr. SUO Jishuan and Mr. WANG Yusuo; and the Independent Non-executive Directors are Mr. MA Weihua, Mr. ZHANG Xuebing, Ms. HAO Quan and Mr. YIN Jian'an.

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