Xingfa Aluminium : CHANGE OF EXECUTIVE DIRECTOR; CHANGE OF CHIEF FINANCIAL OFFICER; AND CHANGE OF AUTHORISED REPRESENTATIVE

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XINGFA ALUMINIUM HOLDINGS LIMITED ጳ೯቙ุછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 98)

CHANGE OF EXECUTIVE DIRECTOR; CHANGE OF CHIEF FINANCIAL OFFICER;

AND

CHANGE OF AUTHORISED REPRESENTATIVE

The Board announces that with effect from 10 May 2018:

(i) Mr. Dai Feng has resigned as an executive Director; the Chief Financial Officer; and an Authorised Representative;

(ii) Ms. Zhang Li has been appointed as an executive Director and the Chief Financial Officer; and

(iii) Mr. Liao Yuqing, an executive Director, has been appointed as an Authorised

Representative.

RESIGNATION OF EXECUTIVE DIRECTOR

The board ("Board") of directors ("Directors", each a "Director") of Xingfa Aluminium Holdings Limited ("Company", together with its subsidiaries, the "Group") announces that with effect from 10 May 2018, Mr. Dai Feng ("Mr. Dai") has resigned as an executive Director; the chief financial officer of the Company ("Chief Financial Officer"); and an authorised representative of the Company ("Authorised Representative") under Rule 3.05 of the Rules ("Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Stock Exchange") due to normal rotation of work duties assigned by state-owned enterprise.

Mr. Dai has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the Stock Exchange or the shareholders of the Company ("Shareholders").

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board wishes to announce that with effect from 10 May 2018, Ms. Zhang Li ("Ms. Zhang") has been appointed as an executive Director and the Chief Financial Officer.

The biographical details of Ms. Zhang are set out below:

Ms. Zhang, aged 38, has extensive business management experience. She has been a director and chief financial officer of Guangdong Xingfa Aluminium Co. Ltd.*€ᄿ؇ጳ೯቙ุϞ ࠢʮ̡(a wholly-owned subsidiary of the Company) since April 2018. Before joining the Group, Ms. Zhang has worked in various departments of the group companies of Guangdong Guangxin Holdings Group Ltd.*€ᄿ؇޲ᄿอછٰණྠϞࠢʮ̡("Guangxin Holdings") (previously known as Guangdong Foreign Trade Corporation Ltd.€ᄿ؇޲ᄿอ̮൱ණྠ Ϟࠢʮ̡) since July 2001. She worked at the finance department of Guangdong Dong Fang Import and Export Corp.*€ᄿ؇޲؇˙ආ̈ɹʮ̡as an accountant from July 2001 to December 2003 and was then promoted to be the deputy manager from January 2004 to December 2004. She then joined the clearings department of Guangxin Holdings as the deputy head from January 2005 to December 2006 and was promoted to be the head of the clearings department from January 2007 to April 2013. Ms. Zhang worked for the capital management department of Guangxin Holdings as an assistant to the head from May 2013 to June 2014 and as the deputy head of the capital management department from June 2014 to April 2018. She has also been a director of Guangxin Shipbuilding & Heavy Industry Co., Ltd.*€ᄿอऎ ԫࠠʈٰ΅Ϟࠢʮ̡since September 2014. Guangxin Holdings is the holding company of Guangxin Aluminium (HK) Limited which holds approximately 29.99% of the existing issued shares of the Company as at the date of this announcement. Ms. Zhang was accredited as a senior accountant in the People's Republic of China ("PRC") in April 2011. Ms. Zhang obtained a bachelor's degree in economics from Central University of Finance and Economics in the PRC in 2001 and a master's degree in accounting from Sun Yat-Sen University in the PRC in 2009.

Pursuant to the service contract entered into between Ms. Zhang and the Company, Ms. Zhang has been appointed for a term of three years unless terminated by not less than three months' notice in writing served by either party on the other and is subject to retirement by rotation and re-election and other related provisions as stipulated in the articles of association ("Articles") of the Company and the Listing Rules. Ms. Zhang will receive RMB500,000 per annum as emolument of being a Director and a discretionary bonus, which was recommended by the remuneration committee of the Company and determined by the Board with reference to the prevailing market conditions, her roles and responsibilities.

* For identification only

Save as disclosed above, as at the date of this announcement, Ms. Zhang:

• (i) has not held any other major appointments and qualifications or directorships in other listed company in the last three years;

• (ii) does not have any relationship with any Directors, senior management, substantial or controlling shareholders (having the meaning ascribed to it in the Listing Rules) of the Company;

• (iii) does not hold other positions with the Company or other members of the Group; and

• (iv) is not interested in any shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there is no further information required to be disclosed pursuant to the requirements of paragraphs (h) to (v) of Rule 13.51(2) of the Listing Rules and there are no other matters relating to the appointment of Ms. Zhang that need to be brought to the attention of the Stock Exchange or the Shareholders.

CHANGE OF AUTHORISED REPRESENTATIVE

In view of the resignation of Mr. Dai as an Authorised Representative, Mr. Liao Yuqing, an executive Director, has been appointed as an Authorised Representative with effect from 10 May 2018.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Dai for his contribution to the Company during his tenure of office and extend its welcome to Ms. Zhang to the Company.

By order of the Board

Xingfa Aluminium Holdings Limited

LIU Libin

Chairman

10 May 2018

As at the date of this announcement, the Board comprises the following members:

Executive Directors:

Mr. LIU Libin (Chairman)

Mr. LIAO Yuqing (Chief Executive Officer) Ms. ZHANG Li (Chief Financial Officer) Mr. LAW Yung Koon

Mr. WANG Zhihua Mr. LUO JianfengNon-executive Directors:

Mr. LU Chaoying Mr. ZUO ManlunIndependent non-executive Directors:

Mr. CHEN Mo Mr. HO Kwan Yiu

Mr. LAM Ying Hung, Andy Mr. LIANG Shibin