Ban Loong : FURTHER DELAY IN DISPATCH OF CIRCULAR AND EXTENSION OF LONG STOP DATE OF THE SUBSCRIPTION

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

This announcement appears for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.

(incorporated in Bermuda with limited liability)

(Stock Code: 30)

FURTHER DELAY IN DISPATCH OF CIRCULAR

AND

EXTENSION OF LONG STOP DATE OF THE SUBSCRIPTION

FURTHER DELAY IN DISPATCH OF CIRCULAR

Reference is made to the announcements (the "Announcements") of Ban Loong Holdings Limited (the "Company") dated 14 October 2019, 4 November 2019, 18 November 2019, 2 December 2019 and 16 December 2019 regarding the connected transaction in relation to the Subscription of Convertible Bonds by Yunnan Baiyao Group and the delay in dispatch of Circular. Unless the context otherwise requires, capitalized terms in this announcement shall have the same meanings as defined in the Announcements.

As additional time is required for the Company to prepare and finalize the Circular, the Company now expects that the dispatch of the Circular will be further delayed to a date falling on or before 31 January 2020.

- 1 -

EXTENSION OF LONG STOP DATE OF THE SUBSCRIPTION

Under the Subscription Agreement, the Long Stop Date for the fulfillment or waiver of the Conditions was originally fixed for 31 December 2019 (or such later date as the Company and Yunnan Baiyao Group may agree). In order to allow for more time for the fulfillment of the Conditions, on 31 December 2019, the Company and Yunnan Baiyao Group entered into a supplemental agreement to extend the Long Stop Date to 28 February 2020 (or such later date as the Company and Yunnan Baiyao Group may agree). Save and except the extension of the Long Stop Date, all other terms and conditions of the Subscription Agreement remain unchanged and in full force and effect in all respects.

By order of the Board

Ban Loong Holdings Limited

Chow Wang

Deputy Chairman & Chief Executive Officer

Hong Kong, 31 December 2019

As at the date of this announcement, the Board of the Company comprises:

Executive Directors:

Mr. Wang Minghui (Chairman)

Mr. Chow Wang (Deputy Chairman & Chief Executive Officer)

Mr. Yin Pinyao

Mr. Chu Ka Wa (Chief Financial Officer)

Mr. Wang Zhaoqing (Chief Operating Officer)

Non-executive Director:

Mr. Fong For

Independent Non-executive Directors:

Mr. Jiang Zhi

Mr. Leung Ka Kui, Johnny

Ms. Wong Chui San, Susan

- 2 -