China Saite : Announcements and Notices - Completion of Share Transaction in Relation to the Subscription and Acquisition of An Aggregate of 11.17% Issued Share Capital in Fire Scorpion Limited Involving Issue of Consideration Shares under General Mandate

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This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase, or subscribe for the securities of the Company.

CHINA SAITE GROUP COMPANY LIMITED

中 國 賽 特 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 153)

COMPLETION OF SHARE TRANSACTION

IN RELATION TO THE SUBSCRIPTION AND ACQUISITION OF AN AGGREGATE OF 11.17% ISSUED SHARE CAPITAL IN

FIRE SCORPION LIMITED INVOLVING ISSUE OF

CONSIDERATION SHARES UNDER GENERAL MANDATE

Reference is made to the announcement of China Saite Group Company Limited (the ''Company'') dated 16 December 2016 (the ''Announcement'') in relation to, among other things, the Transaction. Unless the context otherwise requires, the use of capitalized terms herein shall have the same meanings as defined in the Announcement.

COMPLETION OF THE SHARE TRANSFER

The Board is pleased to announce that the all conditions precedent to the Share Purchase Agreement, including but not limited to the completion of the GZ Transfer, have been fulfilled, and the First Completion took place on 16 January 2017 and the Second Completion took place on 20 January 2017.

Immediately after the First Completion and as at the date of this announcement, Saite Capital holds 11.17% of the enlarged issued share capital of the Target Company. 88,947,935 Consideration Shares, representing (i) approximately 3.97% of the issued share capital of the Company immediately before the Second Completion; and (ii) approximately 3.82% of the issued share capital of the Company immediately after the Second Completion and as at the date of this announcement, have been allotted and issued to the Seller at the Issue Price of HK$0.557 per Consideration Share on 20 January 2017 in accordance with the terms and conditions of the Share Purchase Agreement.

EFFECT ON SHAREHOLDING STRUCTURE OF THE COMPANY

The shareholding structures of the Company immediately before and after the Second Completion are as follows:

Name of Shareholder

Immediately before the Second Completion

Immediately after the Second Completion

Number of Shares	Approximate %	Number of Shares	Approximate %
Keen Luck Group Limited1	1,020,000,000	45.50%	1,020,000,000	43.76%
Public Shareholders
The Seller	0	0.00%	88,947,935	3.82%
Five Seasons XIV Limited	203,800,000	9.09%	203,800,000	8.74%
Other public shareholders	1,018,000,000	45.41%	1,018,000,000	43.68%
Total	2,241,800,000	100.00%	2,330,747,935	100.00%
Note:

1. Keen Luck Group Limited is held indirectly as to 51% by Mr. Jiang Jianqiang, the executive Director.

By Order of the Board

China Saite Group Company Limited JIANG Jianqiang

Chairman

Hong Kong, 20 January 2017

As at the date of this announcement, the executive Directors are Mr. JIANG Jianqiang, Mr. SHAO Xiaoqiang and Mr. XU Fanghua; and the independent non-executive Directors are Mr. XU Jiaming, Mr. CHEN Tiegang and Mr. LUK Chi Shing.