Chinese People : DELAY IN DESPATCH OF CIRCULAR IN RELATION TO (I) CONNECTED TRANSACTION RELATING TO THE SUBSCRIPTION OF NEW SHARES BY A SUBSTANTIAL SHAREHOLDER; AND (II) APPLICATION FOR WHITEWASH WAIVER

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

CHINESE PEOPLE HOLDINGS COMPANY LIMITED

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(incorporated in Bermuda with limited liability) (stock code: 681)

DELAY IN DESPATCH OF CIRCULAR IN RELATION TO

• (I) CONNECTED TRANSACTION RELATING TO

  THE SUBSCRIPTION OF NEW SHARES BY A SUBSTANTIAL SHAREHOLDER; AND

• (II) APPLICATION FOR WHITEWASH WAIVER

Reference is made to the announcement of Chinese People Holdings Company Limited (the "Company") dated 29 December 2017 (the "Announcement") and the announcement of the Company dated 8 January 2018 in relation to, among other things, (i) the connected transaction relating to the subscription of new shares of the Company by a substantial shareholder of the Company; and (ii) the application for the whitewash waiver. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

As disclosed in the Announcement, a circular (the "Circular") containing, among others, (i) further details of the Subscription, the Subscription Agreement, the Specific Mandate and the Whitewash Waiver; (ii) a letter of advice from the Independent Board Committee to the Independent Shareholders on the Subscription Agreement and the transactions contemplated thereunder, the grant of the Specific Mandate and the Whitewash Waiver; (iii) a letter of advice from the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders on the Subscription Agreement and the transactions contemplated thereunder, the grant of the Specific Mandate and the Whitewash Waiver; (iv) a notice of SGM; and (v) other information as required under the Listing Rules, is expected to be despatched to the Shareholders on or before 19 January 2018.

As additional time is required by the Company to prepare and finalise the information to be included in the Circular, including but not limited to the financial information of the Group and the letter of advice from the Independent Financial Adviser, the Company expects that the despatch of the Circular will be postponed from 19 January 2018 to a date not later than 9 February 2018. An application has been made by the Company to the Executive pursuant to Rule 8.2 of the Takeovers Code for its consent to extend the latest date of despatch of the Circular from 19 January 2018 to 9 February 2018. The Executive has indicated that it is minded to grant such consent.

By order of the Board

Chinese People Holdings Company Limited

Mr. Fan Fangyi

Managing Director and Executive Director

Beijing, 19 January 2018

As at the date of this announcement, the Board comprises five Executive Directors namely, Dr. Mo Shikang (Chairman), Mr. Zhang Hesheng (Deputy Chairman), Mr. Chu Kin Wang Peleus (Deputy Chairman), Mr. Fan Fangyi (Managing Director) and Miss Mo Yunbi and three Independent Non-executive Directors namely, Dr. Liu Junmin, Prof. Zhao Yanyun and Mr. Sin Ka Man.

The Directors jointly and severally accept full responsibility for the accuracy of information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.