General Announcement::Overseas Regulatory Announcement - Sold Back of the Domestic Corporate Bonds

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(incorporated in Hong Kong with limited liability)

(Stock code: 1668)

Overseas Regulatory Announcement

Sold Back of the Domestic Corporate Bonds

This announcement is issued pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

Reference is made to the announcement of China South City Holdings Limited (the "Company") dated 6 August 2019 in relation to the issuance of the first ("19 Huanan 01") and second tranches ("19 Huanan 02") of the Domestic Corporate Bonds in 2019 (collectively the "Bonds") to qualified investor in the PRC domestically, with an aggregative principal amount of RMB1.4 billion by China South International Industrial Materials City (Shenzhen) Co. Ltd. ("China South International") and the other announcements mentioned therein (collectively, the "Announcements"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcements.

In accordance with the agreed terms of the "Proposal Prospectus" of the Bonds, as of the end of the sold back declaration period on 12 July 2021, five investors declared to sell back 120,000 pieces of "19 Huanan 02" domestic corporate bonds held by them at a resale price of RMB100/piece (excluding interest) with the sold back principal amount of RMB12,000,000 to China South International; and almost all investors expressed their trust and support to the Group and chose to continue to hold the principal balance of the Bonds at RMB1.388 billion until the expiry date. At the same time, China South International announced that it would not adjust the coupon rate of the Bonds and maintains the annual interest rate at 8%.

Please refer to the attached announcements on 9th and 13th July 2021 regarding the sold back declaration of the Bonds, for reference only. The overseas regulatory announcements and related documents in connection with the Bonds have been posted on the website of the Shenzhen Stock Exchange (www.szse.cn). Shareholders and investors are reminded that such documents were prepared in accordance with the domestic requirements in the PRC and are only applicable to China South International. The information contained therein does not fully reflect the completeness of the Group.

For and on behalf of the Board

China South City Holdings Limited

CHENG Chung Hing

Chairman & Executive Director

Hong Kong, 13 July 2021

As at the date of this announcement, the executive directors of the Company are Mr. Cheng Chung Hing, Mr. Zhao Lidong, Ms. Geng Mei and Ms. Cheng Ka Man Carman; the non-executive directors of the Company are Mr. Cheng Tai Po and Mr. Lin Ching Hua; and the independent non-executive directors of the Company are Mr. Leung Kwan Yuen Andrew, GBM, GBS, JP, Mr. Li Wai Keung and Mr. Hui Chiu Chung, JP.