Hsin Chong : APPOINTMENT OF CHAIRMAN OF AUDIT COMMITTEE AND APPOINTMENT OF CHAIRMAN OF REMUNERATION COMMITTEE

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HSIN CHONG GROUP HOLDINGS LIMITED

新 昌 集 團 控 股 有 限 公 司

(provisional liquidators appointed) (for restructuring purposes only)

(Incorporated in Bermuda with limited liability)

(Stock Code: 00404)

APPOINTMENT OF CHAIRMAN OF AUDIT COMMITTEE AND APPOINTMENT OF CHAIRMAN OF REMUNERATION COMMITTEE

APPOINTMENT OF CHAIRMAN OF AUDIT COMMITTEE

The Board is pleased to announce that Dr. LO Wing Yan William ("Dr. Lo"), an Independent Non-executive Director, the chairman of the Corporate Governance Committee and members of the Nomination Committee, Remuneration Committee, Risk Management Committee, has been appointed as the chairman of the Audit Committee with effect from 12 June 2019.

The Board would like to express its warmest welcome to Dr. Lo on his appointment.

APPOINTMENT OF CHAIRMAN OF REMUNERATION COMMITTEE

The Board is further pleased to announce that Prof. HUNG Wai Man ("Prof. Hung"), an Independent Non-executive Director, members of the Audit Committee, Nomination Committee, Risk Management Committee and Corporate Governance Committee, has been appointed as the chairman of the Remuneration Committee with effect from 12 June 2019. Dr. Lam Lee G. ("Dr. Lam") has been redesignated from chairman to a member of the Remuneration Committee with effect from 12 June 2019.

The Board would like to express its warmest welcome to Prof. Hung on his appointment.

CONTINUED SUSPENSION OF TRADING IN THE SHARES

Trading in the shares of the Company has been suspended since 3 April 2017 and will continue to be suspended until further notice. Holders of the shares and other securities of the Company and potential investors are advised to exercise caution when dealing in the shares and other securities of the Company.

By order of the Board of

Hsin Chong Group Holdings Limited

(in provisional liquidation)

(for restructuring purposes)

WANG Guozhen

Vice Chairman and Executive Director

Hong Kong, 18 June 2019

As at the date of this announcement, the Board comprises Mr. LIN Zhuo Yan as the Non- executive Chairman and Non-executive Director; Mr. WANG Guozhen (Vice Chairman), Ir Dr Joseph CHOI Kin Hung (Chief Executive Officer) and Mr. Wilfred WU Shek Chun (Chief Risk Officer) as Executive Directors; Mr. YAN Jie and Mr. CHEN Lei as Non-executive Directors; and Mr. George YUEN Kam Ho, Dr. LAM Lee G., Dr. LO Wing Yan William, JP and Prof. HUNG Wai Man, JP as Independent Non-executive Directors.