China Beidahuang Industry : UPDATE ANNOUNCEMENT RELATING TO WINDING UP PETITION

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China Beidahuang Industry Group Holdings Limited

中 國 北 大 荒 產 業 集 團 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 00039)

UPDATE ANNOUNCEMENT

RELATING TO WINDING UP PETITION

This announcement is made by China Beidahuang Industry Group Holdings Limited (the "Company") pursuant to Rules 13.09 and 13.25(1)(b) of Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 15 August 2019, 22 August 2019, 9 October 2019 and 6 November 2019 and 15 May 2020 in relation to, among others, a petition for the winding up of the Company filed by Qiu Zhen (collectively, the "Announcements"). Capitalised terms and expressions used herein shall have the same meanings as those defined in the Announcements, unless the context requires otherwise.

As disclosed in the Announcements, the Petition was scheduled to be heard before the High Court at 9:30 a.m. on 29 July 2020. The Company wishes to update the shareholders and potential investors of the Company that at the hearing held on 29 July 2020 at the High Court, an order was made by the High Court to adjourn the hearing for the Petition against the Company to 3:30 p.m. on 2 September 2020.

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The Company will keep its shareholders and investors informed of any significant development of the Petition and will make further announcement(s) as and when appropriate in accordance with the Listing Rules.

Shareholders and potential investors should accordingly exercise caution when dealing in the securities of the Company.

By Order of the Board

China Beidahuang Industry Group Holdings Limited

Li Jiehong

Chairman

Hong Kong, 29 July 2020

As at the date of this announcement, the Executive Directors are Mr. Li Jiehong (Chairman) and Mr. Ke Xionghan; the Non-executive Director is Ms. Ho Wing Yan; and the Independent Nonexecutive Directors are Mr. Chong Cha Hwa and Mr. Yang Yunguang.

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