Hengxing Gold : VOLUNTARY ANNOUNCEMENT STATEMENT REGARDING THE IMPACT OF NOVEL CORONAVIRUS PNEUMONIA ON THE MINE OPERATION

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Hengxing Gold Holding Company Limited

恒興黃金控股有限公司

(Incorporated in the Cayman Islands with limited liability)

（Stock Code：2303）

VOLUNTARY ANNOUNCEMENT

STATEMENT REGARDING THE IMPACT

OF NOVEL CORONAVIRUS PNEUMONIA ON THE MINE OPERATION

This is a voluntary announcement made by Hengxing Gold Holding Company Limited ("Hengxing Gold" or the "Company", including its subsidiaries, the "Group").

Due to the outbreak of the Severe Respiratory Disease associated with a Novel Infectious Agent (the "SRD'') in the People's Republic of China (the ''PRC''), a number of provinces and municipalities in the PRC have taken various emergency public health measures and other actions to prevent the spread of the SRD. The government of the PRC issued notices which extend the period of Chinese New Year holiday in the PRC.

As part of the Group's efforts to facilitate the prevention and control of the SRD and ensure the health and safety of the Group's employees in the PRC, the board of directors (the ''Board'') of the Company hereby announces that the Group will comply with the relevant remedies and requirements issued by the government of the PRC by temporarily delaying the resumption of operation of the Group's Gold Mountain Mine in Xinjiang autonomous region to 10 February 2020. Time of full resumption of the mine operation could still be uncertain and subject to the receipt of further notice from government and the return of the workforce back to the Gold Mountain Mine as a result of the SRD restrictions. The Company will make further announcement(s) as and when necessary. The less production days caused by the SRD, which is beyond the control of the Group, may result in fewer gold production in the first quarter of 2020 compared with the same period last year.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the Company's securities.

By order of the Board

Hengxing Gold Holding Company Limited

KE Xiping

Chairman

Hong Kong, 7 February 2020

As at the date of this announcement, the executive directors of the Company are Mr. KE Xiping, Ms. YANG Yifang (Lydia Yang), Mr. CHEN, David Yu and Mr. KE Jiaqi, the non-executive director of the Company is Mr. Albert Fook Lau HO and the independent non-executive directors of the Company are Ms. WONG, Yan Ki Angel, Dr. Tim SUN and Dr. PAN Guocheng.