Honworld : CHANGE OF THE CHAIRMAN OF THE BOARD AND EXECUTIVE DIRECTORS

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company 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.

Honworld Group Limited

老 恒 和 釀 造 有 限 公 司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2226)

CHANGE OF THE CHAIRMAN OF THE BOARD

AND EXECUTIVE DIRECTORS

The board (the ''Board'') of directors (the ''Directors'') of Honworld Group Limited (the ''Company'') together with its subsidiaries, (the ''Group'') announces that:

1. Mr. Chen Weizhong (陳衛忠 ) has tendered his resignation as the chairman of the Board with effect from 11 September 2020;
2. Mr. Wang Chao (王超) has tendered his resignation as an executive Director with effect from 11 September 2020; and
3. Mr. Chen Wei (陳偉) has been appointed as the chairman of the Board and an executive Director with effect from 11 September 2020.

1. RESIGNATION OF THE CHAIRMAN OF THE BOARD
   The Board announces that Mr. Chen Weizhong (''Mr. WZ Chen'') has tendered a notice of resignation as the chairman of the Board with effect from 11 September 2020 but will remain as an executive Director, chief executive officer and authorised representative of the Company.
2. RESIGNATION OF AN EXECUTIVE DIRECTOR
   The Board further announces that Mr. Wang Chao (''Mr. Wang'') has tendered a notice of resignation as an executive Director with effect from 11 September 2020 due to personal reason. Mr. Wang has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that should be brought to the attention of the shareholders (the ''Shareholders'') of the Company or The Stock Exchange of Hong Kong Limited.

• For identification purposes only

- 1 -

Taking this opportunity, the Board would like to express its sincere gratitude to Mr. Wang for his invaluable contribution towards the Company during his tenure of service.

1. APPOINTMENT OF THE CHAIRMAN OF THE BOARD AND AN EXECUTIVE DIRECTOR
   The Board further announces that Mr. Chen Wei (''Mr. Chen'') has been appointed as the chairman of the Board and an executive Director with effect from 11 September 2020.
   The Board would like to express its warmest welcome to Mr. Chen to the Board. The biographical details of Mr. Chen are as follows:
   Mr. Chen Wei (陳偉), aged 42, has been the chairman of the board of directors of both Huzhou Wuxing City Investment Development Group Limited* (湖州吳興城市投資發 展集團有限公司) (''Huzhou Wuxing City'') and Huzhou Wuxing Industry Investment Development Group Limited* (湖州吳興產業投資發展集團有限公司) (''Huzhou Wuxing Industry'') since September 2017. Huzhou Wuxing City is a stated-owned enterprise principally engaging in the business of urban infrastructure construction, agricultural development, mine ecological development, land development and the management of social facilities. Huzhou Wuxing Industry is a stated-owned enterprise principally engaging in the business of investment management, property management, lease of self-owned property and the investment and operation of industrial parks. From
   August 2012 to September 2017, Mr. Chen worked at Zhejiang Province Huzhou Municipality Nantaihu High Technology Industrial Park* (浙江省湖州市南太湖高新技 術產業園區) with his last position as the director of the management committee. Mr. Chen received a diploma of agricultural economic management (financial management in township enterprise) from the Zhejiang University in June 1999 and a Bachelor's degree of political ideology from the Party School of the Central Committee of Chinese Communist Party in December 2002. From September 2010 to January 2014, he pursued a part-time postgraduate study of the Master's degree of Marxist Philosophy from the Party School of the Zhejiang Province of Chinese Communist Party.
   To the best knowledge of the Board after making due and careful enquiries, (i) Mr. Chen has not held any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas during the last three years, and (ii) Mr. Chen does not have any relationship with any Director, senior management or substantial or controlling shareholder of the Company.
   Mr. Chen does not hold other positions in the Company or any of its subsidiaries.
   A service agreement has been entered into between the Company and Mr. Chen as an executive Director for a term of three years and his directorship is subject to the conditions as stated in the service agreement and retirement by rotation and re-election at the annual general meetings of the Company pursuant to the articles of association of the Company. Pursuant to the service agreement, Mr. Chen will not receive any director's fee for acting as an executive Director.

- 2 -

As at the date hereof, Mr. Chen does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

Save as disclosed above, the Board is not aware of any other matters relating to the aforesaid appointment that need to be brought to the attention of the Shareholders and any other information that should be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

By order of the Board

Honworld Group Limited

Chen Wei

Chairman

Hong Kong, 11 September 2020

As at the date of this announcement, the executive Directors of the Company are Chen Wei, Chen Weizhong and Sheng Mingjian; the non-executive Director of the Company is Gu Wei; and the independent non-executive Directors of the Company are Shen Zhenchang, Ng Wing Fai and Sun Jiong.

- 3 -