Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong 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.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3638)

INSIDE INFORMATION CHANGE OF SHAREHOLDING

This announcement is made by Huabang Financial Holdings Limited (the "Company") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

THE TRANSFERS

The board (the "Board") of directors (the "Directors") of the Company has been informed by Mr.

George Lu ("Mr. Lu"), an executive Director, Chairman and Chief Executive Officer of the Company, and Ms. Shen Wei ("Ms. Shen"), an executive Director and the wife of Mr. Lu, that for the purpose of family planning, Mr. Lu entered into two separate deeds of gift with Ms. Shen on 22

March 2021 for the transfers (the "Transfers") by Mr. Lu to Ms. Shen by way of gift (at nil consideration) of each of the following:

  • (i) 145,800,000 shares of the Company (the "Shares"), representing approximately 3.33% of the total number of issued Shares; and

  • (ii) one share of Forever Star Capital Limited ("Forever Star"), representing 50% of the total issued share capital of Forever Star.

As at the date of this announcement, Forever Star holds 2,414,552,000 Shares, representing approximately 55.07% of the total number of issued Shares.

Immediately after completion of the Transfers:

(i) Ms. Shen will become the legal and beneficial owner of 145,800,000 Shares, representing approximately 3.33% of the total number of issued Shares, and the sole legal and beneficial owner of Forever Star. Ms. Shen will directly and indirectly (through Forever Star) hold an aggregate of 2,560,352,000 Shares, representing approximately 58.39% of the total number of issued Shares; and

(ii) Mr. Lu will cease to have any direct or indirect shareholding in the Company.

WAIVER FROM STRICT COMPLIANCE UNDER THE CODE ON TAKEOVERS AND MERGERS

The Board has been informed by Mr. Lu and Ms. Shen that Ms. Shen has applied for and the Executive Director of the Corporate Finance Division of the Securities and Futures Commission of

Hong Kong has granted a waiver to Ms. Shen from her obligation to make a general offer for the Shares arising as a result of the Transfers pursuant to Note 6(a) to Rule 26.1 of the Code on Takeovers and Mergers.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the Shares.

By Order of the Board

Huabang Financial Holdings Limited

George Lu

Chairman & Chief Executive Officer

Hong Kong, 22 March 2021

As at the date of this announcement, the executive Directors are Mr. George Lu and Ms. Shen Wei; the non-executive Director is Mr. Pang Chung Fai Benny; and the independent non-executive Directors are Mr. Loo Hong Shing, Vincent, Mr. Li Huaqiang and Mr. Zhu Shouzhong.

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Huabang Financial Holdings Ltd. published this content on 22 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2021 11:40:06 UTC.