China Saite : Announcements and Notices - Completion of Subscriptions of New Shares under General Mandate

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.

CHINA SAITE GROUP COMPANY LIMITED

中 國 賽 特 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 153)

COMPLETION OF SUBSCRIPTIONS OF NEW SHARES

UNDER GENERAL MANDATE

The Board is pleased to announce that all the conditions of the Subscription Agreements have been fulfilled and completion of the Subscriptions took place on 15 August 2019, whereby 230,000,000 and 200,000,000 Shares were allotted and issued to the Subscriber I and Subscriber II, respectively by the Company, at the Subscription Price of HK$0.38 per Subscription Share.

References are made to (i) the announcement of the Company dated 11 July 2019 in relation to the subscription of 230,000,000 Shares by the Subscriber I pursuant to the Subscription Agreement I; and (ii) the announcement of the Company dated 12 July 2019 in relation to the subscription of 200,000,000 Shares by the Subscriber II pursuant to the Subscription Agreement II.

COMPLETION OF THE SUBSCRIPTIONS

The Board is pleased to announce that all the conditions of the Subscription Agreements have been fulfilled and completion of the Subscriptions took place on 15 August 2019, whereby 230,000,000 and 200,000,000 Shares were allotted and issued to the Subscriber I and Subscriber II, respectively by the Company, at the Subscription Price of HK$0.38 per Subscription Share. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, each of the Subscriber I and Subscriber II and their respective ultimate beneficial owner(s) is an Independent Third Party.

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EFFECTS ON SHAREHOLDING STRUCTURE OF THE COMPANY

The 430,000,000 Subscription Shares allotted and issued pursuant to the Subscription Agreements represent (i) approximately 16.60% of the issued share capital of the Company immediately before completion of the Subscriptions; and (ii) approximately 14.23% of the issued share capital of the Company as enlarged by the allotment and issue of the Subscription Shares immediately after completion of the Subscriptions.

Set out below is the shareholding structure of the Company (i) immediately before completion of the Subscriptions; and (ii) immediately after completion of the Subscriptions:

	Immediately before completion of	Immediately after completion of
	the Subscriptions	the Subscriptions
	Number of	Approximately	Number of	Approximately
	Shares	%	Shares	%
Director
Jiang Jianqiang	42,202,000		1.63		42,202,000		1.40
Substantial Shareholders
Keen Luck Group Limited (Note 1)	1,020,000,000		39.37		1,020,000,000		33.77
江蘇凱盟投資有限公司 (Jiangsu
Kaimeng Investments Co., Ltd.*)
(Note 2)	260,000,000		10.04		260,000,000		8.61
Five Seasons XIV Limited (Note 3)	197,464,000		7.62		197,464,000		6.54
Public
Subscriber I (Note 4)	-	-	230,000,000		7.61
Subscriber II (Note 5)	-	-	200,000,000		6.62
Other public Shareholders	1,071,081,935		41.34		1,071,081,935		35.45
Total	2,590,747,935		100.00		3,020,747,935		100.00

Notes:

1. Keen Luck Group Limited is wholly-owned by Champ Origin Limited which in turn is owned as to 51% by Mr. Jiang Jianqiang and 49% by Mr. Jiang Yixuan, respectively.
2. 江蘇凱盟投資有限公司 (Jiangsu Kaimeng Investments Co., Ltd.*) is owned as to 60% by Mr. Li Xiaofei and 40% by Ms. Quan Zhu, respectively.
3. Five Seasons XIV Limited is wholly-owned by Five Seasons XVII Limited which in turn is wholly- owned by Fullshare Holdings Limited (''Fullshare''). Fullshare is owned as to 45.05% by Magnolia Wealth International Limited, which in turn is wholly-owned by Mr. Ji Changqun.
4. The Subscriber I is wholly-owned by 沈陽萬錦實業有限公司 (Shenyang Wanjin Enterprise Co., Ltd.*) which in turn is 99% owned by 沈陽華米實業有限公司 (Shenyang Huami Enterprise Co., Ltd.*) (''Shenyang Huami''). Shenyang Huami is wholly-owned by Mr. Zhu Hong.
5. The Subscriber II is wholly-owned by Mr. Li Xiang.

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DEFINITIONS

In this announcement, unless the context otherwise requires, the following expressions shall have the following meanings when used herein:

''Board''	the board of Directors
''Director(s)''	director(s) of the Company
''Company''	China Saite Group Company Limited, a company
	incorporated in the Cayman Islands with limited liability,
	and the Shares of which are listed on the main board of The
	Stock Exchange of Hong Kong Limited
''Independent Third	any person(s) or company(ies) and their respective ultimate
Party(ies)''	beneficial owner(s) whom, to the best of the Directors'
	knowledge, information and belief having made all
	reasonable enquiries, are third parties independent of the
	Company and the connected persons of the Company
''Share(s)''	ordinary share(s) of HK$0.1 each in the share capital of the
	Company
''Shareholder(s)''	the holder(s) of the Shares
''Subscriber I''	江蘇華米企業管理有限公司 (Jiangsu Huami Business
	Management Co., Ltd.*), a company established in the
	People's Republic of China with limited liability
''Subscriber II''	Wenjia International Limited (文甲國際有限公司), a
	company incorporated in Hong Kong with limited liability
''Subscribers''	collectively, the Subscriber I and Subscriber II
''Subscription Agreement I''	the subscription agreement dated 11 July 2019 entered into
	between the Company as issuer and the Subscriber I as the
	subscriber for the subscription of 230,000,000 Shares at the
	Subscription Price
''Subscription Agreement II''	the subscription agreement dated 12 July 2019 entered into
	between the Company as issuer and the Subscriber II as the
	subscriber for the subscription of 200,000,000 Shares at the
	Subscription Price
''Subscription Agreements''	Subscription Agreement I and Subscription Agreement II
''Subscriptions''	the subscriptions for the Subscription Shares by the
	Subscribers pursuant to the Subscription Agreements
''Subscription Shares''	an aggregate of 430,000,000 Shares to be subscribed by the
	Subscribers pursuant to the Subscription Agreements

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''Subscription Price''	HK$0.38 per Subscription Share
''%''	per cent
	By order of the Board
	China Saite Group Company Limited
	JIANG Jianqiang
	Chairman
Hong Kong, 15 August 2019

• English translated name for identification purpose only

As at the date of this announcement, the executive Directors of the Company are Mr. JIANG Jianqiang, Mr. SHAO Xiaoqiang, Mr. XU Fanghua, Mr. LIU Zhibo and Mr. HUA Gang; and the independent non-executive Directors are Mr. XU Jiaming, Mr. WU Zhongxian and Mr. YAN Hualin.

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