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 contents of this announcement.

INSIDE INFORMATION SETTLEMENT OF OUTSTANDING LOAN

Reference is made to the announcement ("Announcement") of China Vanguard Group Limited (the "Company") on 17 September 2013 regarding outstanding loan repayment. Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement unless the context otherwise requires.

The Board is pleased to announce that the Company has settled the outstanding loan including all outstanding principal amount and all outstanding interests due to Tarascon Asia Absolute Fund (Cayman) Ltd ("Tarascon") on 24 January 2014. Pursuant to the deed of release and discharge dated 28 January 2014, the receivership was terminated on 28 January 2014.

This announcement is made by the Company pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on The Growth Enterprise Market of The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 Laws of Hong Kong).

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

Yours faithfully,

By order of the Board

China Vanguard Group Limited

眾彩科技股份有限公司

Chan Ting

Director

Hong Kong, 29 January 2014

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As at the date of this announcement, the board of directors of the Company comprises Madam Cheung Kwai Lan, Mr. Chan Ting as Executive Directors, Mr. Chan Tung Mei as Non-executive Director and Mr. Zhang Xiu Fu, Mr. Yang Qing Cai and Mr. To Yan Ming Edmond as Independent Non-executive Directors.
This announcement, for which the directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The directors of the Company, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will remain on the "Latest Company Announcements" page of the GEM website at www.hkgem.com for a minimum period of 7 days from the date of its posting and on the website of the Company at www.cvg.com.hk .

* For identification purposes only

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