Changgang Dunxin : Further Adjournment of Hearing of the Winding Up Petition

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.

(Provisional Liquidators appointed)

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2229)

FURTHER ADJOURNMENT OF HEARING OF THE WINDING UP PETITION

Reference is made to the announcements of the Company dated 10 March 2017, 13 March 2017 and 12 May 2017 in relation to the Winding-up Petition entitled HCCW 68/2017 ("Petition") presented by Mr Zheng Dunqian ("Petitioner"), an executive director and chief executive officer of the Company, as the petitioner (the "Announcements"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements, unless otherwise specified.

As set out in the Company's announcement dated 12 May 2017, the hearing of the Petition was adjourned by Master Lai of the High Court to 14 June 2017. On 14 June 2017, the hearing of the Petition was adjourned by Master Hui of the High Court to 5 July 2017 for the Petitioner to amend his Petition. On 5 July 2017, the hearing of the Petition was further adjourned by Master Wong of the High Court to 26 July 2017 for the Petitioner to satisfy the requirements of Rule 29 of the Companies (Winding-up) Rules, Cap. 32H.

At the hearing on 5 July 2017, the Court granted leave to the Opposing Creditor Wang Tao to withdraw his opposition to the Petition and discontinue his participation in HCCW 68/2017.

Further announcement(s) will be made by the Company to update shareholders of the Company and the investing public on any material development of the Petition as and when appropriate pursuant to the requirement of the Listing Rules.

SUSPENSION OF TRADING

The Securities and Futures Commission has, under Rule 8(1) of the Securities and Futures (Stock Market Listing) Rules, directed the Stock Exchange of Hong Kong Limited to suspend all dealings in the shares of the Company from 9:00 a.m. on 18 May 2017. The trading in the shares of the Company will remain suspended until further notice.

For and on behalf of

Changgang Dunxin Enterprise Company Limited

(Provisional Liquidators appointed)

Kennic Lai Hang LUI and LAU WU Kwai King Lauren

Joint and Several Provisional Liquidators Acting as agents without personal liability

Hong Kong, 7 July 2017

As at the date of this announcement, the executive directors of the Company are Mr. Zheng Dunqian, Mr. Chen Ruomao, Mr. Yeung Wing Nam, Mr. Wong Sing Chui, Ms. Huang Xiao Wen, Mr. Chiu Muk Hing and Mr. Chan Walter Kai Him; and the independent non-executive directors are Mr. Ye Deshan, Mr. Hu Zhenghui, Mr. Lo Pak Ho, Mr. Fung Chi Tung and Ms. Zhang He.