Business Update: Development of Financial Technology

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(Stock Code: 8215) BUSINESS UPDATE: DEVELOPMENT OF FINANCIAL TECHNOLOGY

This is a voluntary announcement made by First Credit Finance Group Limited ("Company", together with its subsidiaries, the "Group") for keeping the shareholders and potential investors of the Company informed of the latest business development of the Group.

The board ("Board") of directors ("Directors") of the Company is pleased to announce that in view of the increasing popularity of online services in various industries, the Group is actively exploring the opportunity of developing financial technology for its money lending and financial businesses with a view to combine its existing business models with innovative technology. The Group strives to break through its traditional business model by applying new technology into its system such as to introduce an online lending platform for potential borrowers, development of software for automated data capture and analysis in order to enhance its risk management and credit assessment function etc. The Group has identified potential business partners and has been discussing with them on the possibilities of cooperations for the development of financial technology in the Group's business. Such cooperations may include the design and development of various online platforms or applications for use on mobile devices etc. which aim at providing diversified and instant solutions to the needs of the Group's customers.

The Board believes that the development of financial technology will raise the competitive edge of the Group in the market of traditional money lending and financial services by enhancing the quality and efficiency of its services. It is also expected that the new mode of operation to be brought about by the financial technology will help to broaden the customers base of the Group and contribute to the further development and expansion of the Group's money lending and financial businesses.

The Group is still in the course of negotiation with the potential business partners on the detailed arrangement of the cooperations. No binding agreements have been signed between the Group and the potential business partners as at the date of this announcement.

For and on behalf of the Board

First Credit Finance Group Limited Tsang Yan Kwong

Chief Executive Officer and Executive Director

Hong Kong, 15 May 2017

As at the date of this announcement, the Board comprises Mr. Sin Kwok Lam (Chairman), Mr. Tsang Yan Kwong (Chief Executive Officer), Mr. Leung Wai Hung and Ms. Ho Siu Man as executive Directors; and Mr. Fung Kam Man, Mr. Wang Zhiwei and Mr. Yu Wan Hei as independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on The Growth Enterprise Market ("GEM") of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the GEM website at www.hkgem.com on the "Latest Company Announcements" page for at least 7 days from the date of its posting. This announcement will also be published and remains on the Company's website at www.firstcredit.com.hk.