Zensun Enterprises : Notice of Issue and Listing on The Stock Exchange of Hong Kong Limited - US$200 Million 12.5% Senior Notes Due 2022

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 does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein will not be registered under the Securities Act, and may not be offered or sold in the United States except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

ZENSUN ENTERPRISES LIMITED

正 商 實 業 有 限 公 司

(formerly known as ZH International Holdings Limited

正恒國際控股有限公司)

(Incorporated in Hong Kong with limited liability)

(Stock Code: 185)

US$200 MILLION 12.5% SENIOR NOTES DUE 2022

(the "Notes", Stock Code: 40189)

NOTICE OF ISSUE AND LISTING ON

THE STOCK EXCHANGE OF HONG KONG LIMITED

Application has been made to The Stock Exchange of Hong Kong Limited for the listing of and permission to deal in the Notes by way of debt issuances to professional investors (as defined in Chapter 37 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and in the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong)) only as described in the offering memorandum relating thereto dated 6 March 2020. Permission for the listing of, and dealing in the Notes is expected to become effective on 16 March 2020.

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By Order of the Board

Zensun Enterprises Limited

Zhang Jingguo

Chairman, Chief Executive Officer and Executive Director

Hong Kong, 13 March 2020

As at the date of this announcement, the executive Directors are Mr. Zhang Jingguo and Mr. Zhang Guoqiang; the non-executive Director is Ms. Huang Yanping and the independent non-executive Directors are Mr. Liu Da, Dr. Liu Qiao and Mr. Ma Yuntao.

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