Goldstone Investment : VOLUNTARY ANNOUNCEMENT APPOINTMENT AS INVESTMENT MANAGER

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GOLDSTONE INVESTMENT GROUP LIMITED ږͩҳ༟ණྠϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 901)

VOLUNTARY ANNOUNCEMENT APPOINTMENT AS INVESTMENT MANAGER

The board of Directors (the "Board") announces that the Company entered into an investment management agreement (the "Investment Management Agreement") with Evergrande Securities (Hong Kong) Limited ("ESHK") on 19 March 2021, pursuant to which ESHK has agreed to act as the investment manager of the Company and to provide non-discretionary investment management services to the Company for a period of one year commencing from 1 April 2021 to 31 March 2022.

PRINCIPAL TERMS OF THE INVESTMENT MANAGEMENT AGREEMENT

Pursuant to the Investment Management Agreement, ESHK will be appointed as the investment manager of the Company for a term of one year commencing from 1 April 2021 to 31 March 2022, unless terminated at any time by either the Company or ESHK by serving not less than three months' prior notice in writing on the other party. The appointment of ESHK as the investment manager of the Company will be governed by the terms and conditions of the Investment Management Agreement.

Pursuant to the Investment Management Agreement, the Company shall pay to ESHK a fixed investment management fee of HK$30,000 per month with effect from the effective date of the Investment Management Agreement.

Pursuant to the Investment Management Agreement, ESHK shall, among others:

• (1) identify, review and evaluate investment and disinvestments opportunities for the Company and negotiate the best terms of such investment and disinvestment for the Company;

• (2) advise the Board on the merits and demerits of investment opportunities or information relevant to the making of judgments about the merits and demerits of investment opportunities and to render investment advice to the Board based upon such information as may reasonably be available to it and, in particular, assist the Board in structuring acquisitions and disposals;

• (3) provide the Board with such information as may reasonably be available to it on opportunities to acquire or to dispose of investments of which ESHK becomes aware and which in the opinion of ESHK are or may be suitable for the Company;

• (4) monitor and keep under review the performance and status of the assets (including but not limited to cash and securities) of the Company from time to time, based on information as may reasonably be available to it, and to provide the Board with any assistance in relation to the Company's investment as it may require;

• (5) assess whether it is reasonable to make provision for future expenses and/or any possible diminution in value of investment out of the net amount derived from interest, dividends and other income received by the Company after meeting expenses, and consider the amount of cash required for future investment of the Company;

• (6) provide the Board, the auditors of the Company, the company secretary of the Company or such other person as authorised by the Board, from time to time with such information as may be in the possession or control of ESHK as may reasonably be required for the keeping of such accounts, books, records and statements as may be required by applicable law and regulations (including without limitation the Listing Rules) for the proper conduct of the affairs of the Company; and

• (7) act in accordance with all reasonable instructions given and authorities delegated to it from time to time by the Board and to keep the Board fully informed as to the discharge of its powers and duties hereunder.

Notwithstanding the foregoing, from time to time the Board may give ESHK directions in writing relating to the conduct of the business of the Company to be carried out by it on behalf of the Company and ESHK shall exercise its powers and duties thereunder subject to and in accordance with such directions.

The Board shall retain overall control over the investment policies of the Company and may at its sole discretion resolve and decide on whether to approve any of the proposals submitted by ESHK.

REASONS FOR ENTERING INTO THE INVESTMENT MANAGEMENT AGREEMENT

ESHK has extensive investment management experience in Hong Kong in relation to investment companies listed under Chapter 21 of the Listing Rules. The Company believes that ESHK will be able to contribute towards the Company's business development and direction, and to provide professional investment services to the Company. The Directors also consider that the investment experience of ESHK goes in line with the investment strategies of the Company and are of the view that its expertise will be beneficial to the Company and its shareholders as a whole. Therefore, the Company appoints ESHK as the Company's investment manager. The Directors of the Company consider that ESHK can provide professional investment services and fulfil its role as the investment manager of the Company.

INFORMATION ON THE COMPANY

The Company is an investment company listed under Chapter 21 of the Listing Rules. The Company's investment instruments are to be made in the form of investment fund or equity securities or equity related securities or debt-related instruments in listed and unlisted companies. The investments normally are to be made in enterprises which are established within their respective fields. The Company may also subscribe for the funds mainly includes equity investment funds, hedge funds, quantitative funds, index funds, securities and futures investment funds, Pre-IPO cornerstone funds, strategic investment and M&A funds, digital currency funds, art investment funds and gold funds.

BACKGROUND ON ESHK

ESHK, previously known as Grand Investment (Securities) Limited, was incorporated in Hong Kong in 1989. ESHK was acquired and became a wholly-owned subsidiary of China Evergrande Group ("Evergrande") in 2018. Evergrande is a company listed on The Stock Exchange of Hong Kong Limited ("Stock Exchange") with the stock code of 3333.

ESHK is a wholly-owned subsidiary of Evergrande in Hong Kong. ESHK is licensed to carry out Type 1 (Dealing in securities), Type 4 (Advising on securities), Type 6 (Advising on corporate finance) and Type 9 (Asset management) of regulated activities under the Securities and Futures Ordinance ("SFO") with CE No. AFE504. ESHK is the exchange participant and options trading exchange participant of the Stock Exchange and a direct clearing participant of the Stock Exchange Options Clearing House Limited and Hong Kong Securities Clearing Company Limited.

ESHK is able to provide investment management services to Chapter 21 Investment Companies. The ESL is a wholly-owned subsidiary of Evergrande in Hong Kong. It is licensed to carry on Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities under the SFO.

ESL can provide investment management services for Chapter 21 Companies. Mr. Chan Cheong Yee ("Mr. Chan"), the responsible officer of ESL, has longed been serving as the executive director and/or team member of investment manager of a number of Chapter 21 Companies, including China Innovation Investment Limited (stock code: 1217), China Investment and Finance Group Limited (stock code: 1226), China Investment Development Limited (stock code: 204), China New Economy Fund Limited (stock code: 80), Core Economy Investment Group Limited (stock code: 339), Unity Investments Holdings Limited (stock code: 913) and the Company. All of these companies principally invest in the greater China region and the Asia-Pacific region.

By Order of the Board

Goldstone Investment Group Limited ږͩҳ༟ණྠϞࠢʮ̡

Dr. Xiao Yanming

Chairman

Hong Kong, 19 March 2021

As at the date of this announcement, the Board comprises seven Directors. The executive Director is Dr. Xiao Yanming; the non-executive Directors are Mr. Tung Shu Sun, Ms. Li Ye and Mr. Wong Tsz Wai; and the independent non-executive Directors are Mr. Lai Kim Fung, Ms. Wang Zhongqiu and Mr. Wong Yiu Kit, Ernest.