Chuang China Investments : INSIDE INFORMATION IN RELATION TO THE JOINT DEVELOPMENT INTEREST IN CHENGDU

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.

(Incorporated in Bermuda with limited liability)

I

INSIDE INFORMATION

IN RELATION TO

THE JOINT DEVELOPMENT INTEREST IN CHENGDU

This joint announcement is made by Chuang's Consortium and Chuang's China pursuant to Rule 13.09(2)(a) of the Listing Rules and Part XIVA of the Securities and Futures Ordinance.

Reference is made to the joint announcements dated 31 May 2016 and 1 June 2018 (the ''Announcements'') of Chuang's Consortium and Chuang's China in respect of the Claim filed at the Sichuan Court against the PRC Party, Party A, Party B, and Party A's spouse (collectively, the ''Defendants''). Unless otherwise defined, capitalized terms used in this joint announcement shall have the same meanings as those defined in the Announcements.

The Claimants have recently received a judgement from the Sichuan Court in respect of the Claim (the ''Judgement'') and it is ordered that (i) various agreements relating to the Project entered into between the Claimants and the PRC Party shall be rescinded; (ii) the PRC Party to pay to the Claimants RMB110.77 million (being the original amounts invested by the Claimants to the Project), together with two times of the interests to be calculated based on the lending rates as quoted by the People's Bank of China (''PBOC'') and accrue from 1 July 2009 up to the date of actual payment of the principal; (iii) the PRC Party to pay to the Claimants the portion of the rental income within the Project amounted to approximately RMB3.52 million; (iv) the PRC Party to repay to the Claimants the advances of RMB10.05 million made by the Claimants together with interests to be calculated based on the lending rates as quoted by the PBOC and accrue from 23 November 2007 up to the date of actual payment of the principal; (v) the PRC Party to repay to the Claimants 49% of the advances of RMB10 million made by the Claimants together with interests to be calculated based on the lending rates as quoted by the PBOC and accrue from 22 November 2007 up to the date of actual payment of the principal; (vi) the PRC Party to repay to the Claimants 49% of the advances of RMB10.9 million made by the Claimants together with interests to be calculated based on the lending rates as quoted by the PBOC and accrue from 23 July 2009 up to the date of actual payment of the principal; (the above payments under (ii) to (vi) are collectively defined as ''Judgement Payments'') and (vii) Party A and Party B have the joint obligations for the repayment of the aggregate of RMB110.77 million under (ii), and the full

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amounts under (iv), (v) and (vi) as set out herein. The Judgement also stated that the PRC Party shall pay the Judgement Payments within 30 days upon the Judgement becoming effective.

As advised by the legal adviser of Chuang's China, both the Claimants and the Defendants shall have the right to appeal the Judgement. The Judgement will become effective in the event no appeal is lodged by either the Claimants or the Defendants within the stipulated period. The actual amount of Judgement Payments can only be determined upon the Judgement becoming effective and up to the date of actual payment. As an estimate made by the Claimants for reference purpose, the Judgement Payments as calculated up to 31 December 2019 shall be approximately RMB285.4 million (equivalent to approximately HK$316.8 million). As at 30 September 2019, the total investment costs of Chuang's China in the Project were about RMB146.8 million (equivalent to approximately HK$162.9 million).

As at the date of this joint announcement, the Claimants have not received any notice or have no knowledge as to whether any of the Defendants will pursue an appeal or not. In the meantime, the Claimants are also seeking the legal advice from their legal adviser whether to lodge an appeal in relation to the Judgement. Further announcement will be made by Chuang's Consortium and Chuang's China if there is any material development on the above matter.

Shareholders and potential investors of Chuang's Consortium and Chuang's China are advised to exercise caution when dealing in the shares of Chuang's Consortium and Chuang's China respectively.

By order of the board of	By order of the board of
Chuang's Consortium International Limited	Chuang's China Investments Limited
Albert Chuang Ka Pun	Albert Chuang Ka Pun
Chairman and Managing Director	Chairman
Hong Kong, 12 December 2019

As at the date of this joint announcement, Mr. Albert Chuang Ka Pun, Mr. Richard Hung Ting Ho, Mr. Chong Ka Fung, Mrs. Candy Kotewall Chuang Ka Wai, Mr. Geoffrey Chuang Ka Kam and Mr. Chan Chun Man are the Executive Directors of Chuang's Consortium, and Mr. Abraham Shek Lai Him, Mr. Fong Shing Kwong, Mr. Yau Chi Ming, Mr. David Chu Yu Lin and Mr. Tony Tse Wai Chuen are the Independent Non-Executive Directors of Chuang's Consortium.

As at the date of this joint announcement, Mr. Albert Chuang Ka Pun, Miss Ann Li Mee Sum, Mr. Chong Ka Fung, Mr. Sunny Pang Chun Kit, Mr. Geoffrey Chuang Ka Kam and Mr. Neville Charles Kotewall are the Executive Directors of Chuang's China, Mr. Dominic Lai is the Non-Executive Director of Chuang's China, and Mr. Abraham Shek Lai Him, Mr. David Chu Yu Lin, Mr. Andrew Fan Chun Wah, Dr. Eddy Li Sau Hung and Dr. Ng Kit Chong are the Independent Non-Executive Directors of Chuang's China.

For the purpose of this joint announcement, the translation of RMB into HK$ is based on the approximate exchange rate of RMB1.00 = HK$1.11. Such translation should be not construed as a representation that the amount in question have been, could have been or could be converted at any particular rate or at all.

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