Shanghai Dasheng Agrcltr Fin Tech : Announcements and Notices - VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE RELATING TO BIDDING CONFIRMATION WORTH RMB970 MILLION

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(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock code: 1103) VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE RELATING TO BIDDING CONFIRMATION WORTH RMB970 MILLION

This is a voluntary announcement made by Shanghai Dasheng Agriculture Finance Technology Co., Ltd. (the "Company", together with its subsidiaries, the "Group") for keeping the shareholders of the Company and potential investors informed of the latest performance of the Group, particularly the latest development in its road and bridge construction business (the "Road & Bridge Construction Business").

The board (the "Board") of directors of the Company is pleased to announce that the Group has recently been awarded a bidding confirmation by an independent third party for the construction of the Phase I of the Huaian City Expressway construction project (the "Project"), with total contract value of approximately RMB 970 million (equivalent to approximately HK$1,086 million) and is expected to be completed by 31 January 2019.

The Project is the largest single project awarded to the Group since its establishment with contract value equaled to approximately 76.9% of the turnover for the Group's Road & Bridge Construction Business of year 2015.

The Board considers that the award of the Project is an affirmation of the Group's outstanding performance in construction projects and its qualification, reputation and position as a high-quality construction contractor. The Group believes that the Project will contribute to the Group's future development and the promising prospect of the Road & Bridge Construction Business will be one of the growth drivers for the Group.

The Board wishes to remind shareholders and potential investors that the details terms of contracts under the Project is yet to be finalized and its financial impact to the Group is subject to further analysis and it may or may not have material impact on the financial position of the Group. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Shanghai Dasheng Agriculture Finance Technology Co., Ltd. Lan Huasheng

Chairman

Shanghai, PRC, 19 January 2017

As at the date of this announcement, the Board comprises 3 executive directors: Mr. Lan Huasheng, Mr. Mo Luojiang and Mr. Wang Liguo; 1 non-executive director: Mr. Zhu Tianxiang; and

3 independent non-executive directors: Mr. Chung Cheuk Ming, Mr. Yang Gaoyu and Mr. Zhou Jianhao.

Unless otherwise stated, translation of RMB into HK$ is based on the approximate exchange rate of RMB1.00 to HK$1.12 for information purpose only. Such translation should not be construed as a representation that the relevant amounts have been, could have been, or could be converted at that or any other rate or at all.