Jiangnan : COMMENCEMENT OF DEALINGS IN THE SHARES ON AN EX-ENTITLEMENT BASIS

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.

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

JIANGNAN GROUP LIMITED

江 南 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1366)

RIGHTS ISSUE

ON THE BASIS OF ONE RIGHTS SHARE

FOR EVERY TWO SHARES

HELD ON THE RECORD DATE -

COMMENCEMENT OF DEALINGS IN THE SHARES ON AN

EX-ENTITLEMENT BASIS

Reference is made to the announcement ("Announcement") of Jiangnan Group Limited ("Company") dated 26 August 2019. Unless otherwise stated, capitalised terms used herein shall bear the same meanings as defined in the Announcement.

Pursuant to the expected timetable for the Rights Issue as set out in the Announcement, the last day of dealings in the Shares on a cum-entitlement basis was Wednesday, 18 September 2019. The closing price per Share as quoted on the Stock Exchange on Wednesday, 18 September 2019 was HK$0.285. Dealings in the Shares on an ex-entitlement basis shall commence on Thursday, 19 September 2019.

The Rights Issue is conditional, among other conditions, upon the fulfilment of the conditions set out in the Underwriting Agreement and therefore is subject to the Underwriting Agreement having become unconditional and the Underwriter not having terminated the Underwriting Agreement in accordance with the terms thereof. Accordingly, the Rights Issue may or may not proceed. Any Shareholder or other person contemplating selling or purchasing the Shares and/or nil-paid Rights Shares up to the date when the conditions of the Rights Issue are satisfied will bear the risk that the Rights Issue may not become unconditional and may not proceed. Shareholders and the public are reminded to exercise caution when dealing in the securities of the Company. Any Shareholder or other person contemplating any dealings in the Shares and/or nil-paid Rights Shares is recommended to consult their own professional advisers.

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On behalf of the Board

Jiangnang Group Limited

江南集團有限公司

Chu Hui

Chairman

Hong Kong, 18 September 2019

As at the date of this announcement, the Board comprises three executive directors, namely Mr. Chu Hui, Ms. Xia Yafang and Mr. Jiang Yongwei; and three independent non-executive directors, namely Mr. He Zhisong, Mr. Yang Rongkai and Mr. Kan Man Yui, Kenneth.

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