Kong Sun : VOLUNTARY ANNOUNCEMENT INCREASE IN SHAREHOLDING BY THE CHAIRMAN

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KONG SUN HOLDINGS LIMITED

江 山 控 股 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(STOCK CODE: 295)

VOLUNTARY ANNOUNCEMENT

INCREASE IN SHAREHOLDING BY THE CHAIRMAN

This is a voluntary announcement made by the board (the ''Board'') of directors (the ''Directors'') of Kong Sun Holdings Limited (the ''Company'') to inform its shareholders and potential investors in relation to the increase in shareholding by Mr. Jin Yanbing (''Mr. Jin''), the chairman, an executive director and the chief executive officer of the Company.

The Company was informed that Mr. Jin acquired 12,000,000 ordinary shares of the Company (the ''Shares'') at an average price of HK$0.085 each from 10 May 2021 to 12 May 2021 (the ''Acquisitions'').

Immediately after the Acquisitions, Mr. Jin was interested in a total of 33,670,000 Shares (including 21,670,000 share options granted under the share option scheme of the Company which have not been exercised), representing approximately 0.23% of the total issued share capital of the Company as at the date of this announcement. The Board considers that the increase in shareholding by Mr. Jin demonstrates his confidence in the prospects of the Company.

By Order of the Board

Kong Sun Holdings Limited

Mr. Jin Yanbing

Executive Director

Hong Kong, 12 May 2021

As of the date of this announcement, the Board comprises two executive Directors, Mr. Jin Yanbing and Mr. Qin Hongfu, one non-executive Director, Mr. Jiang Hengwen, and three independent non-executive Directors, Mr. Lang Wangkai, Ms. Wu Wennan and Mr. Xu Xiang.