CHTC Fong International : (1) RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER (2) APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER (3) CHANGE OF AUTHORISED REPRESENTATIVE AND (4) CHANGE OF COMPOSITION OF BOARD COMMITTEES

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CHTC FONG'S INTERNATIONAL COMPANY LIMITED

中 國 恒 天 立 信 國 際 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 641)

1. 1. RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER
   2. APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER
   3. CHANGE OF AUTHORISED REPRESENTATIVE AND
2. CHANGE OF COMPOSITION OF BOARD COMMITTEES

The Board of the Company announces that with effect from 18 October 2019:

1. Mr. Ji Xin has resigned as an Executive Director and the Chief Executive Officer.
2. Mr. Guan Youping has been appointed as an Executive Director and the Chief Executive Officer.
3. Mr. Ji Xin ceased to be the Authorised Representative under the Listing Rules and the Authorised Representative under the Companies Ordinance.
4. Mr. Guan Youping has been appointed as the Authorised Representative under the Listing Rules and the Authorised Representative under the Companies Ordinance.
5. Mr. Ji Xin ceased to be a member of the Nomination Committee and a member of the Remuneration Committee.
6. Mr. Guan Youping has been appointed as a member of the Nomination Committee and a member of the Remuneration Committee.

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1. RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

The board of directors (the "Board") of CHTC Fong's International Company Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr. Ji Xin ("Mr. Ji") has tendered his resignation as an Executive Director and the Chief Executive Officer of the Company and other directorship in subsidiaries of the Group with effect from 18 October 2019 due to his new assignment in China Hi-Tech Group Corporation （中國恒天集團有限公司）, the controlling shareholder of the Company.

Mr. Ji has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.

2. APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

The Board is pleased to announce that Mr. Guan Youping ("Mr. Guan") has been appointed as an Executive Director and the Chief Executive Officer of the Company in replacement of Mr. Ji with effect from 18 October 2019.

Mr. Guan, aged 52, holds a bachelor degree in machinery manufacturing technology and equipment from Tianjin Institute of Textile Science and Technology (currently known as Tianjin Polytechnic University) and a master degree in management science and engineering from the University of Science and Technology Beijing, and he is a senior engineer. Mr. Guan has consecutively served as a director and deputy general manager of Jingwei Textile Machinery Co. Ltd. (A-share stock code: 000666), chairman and general manager of the Yuci Branch of Jingwei Textile Machinery Co. Ltd. and chairman and general manager of Jingwei Intellegent Textile Machinery Limited*（經緯智能紡織機械 有限公司）. Mr. Guan has over 30 years' working experience in textile industry and in- depth knowledge in product, market and operation of textile machinery industry. He also has extensive practical experience in corporate lean production, technology research and development, marketing and operations management.

• for identification only

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Mr. Guan has not entered into any service contract with the Company in relation to his appointment as an Executive Director and the Chief Executive Officer of the Company and his remuneration has not been fixed. He has no fixed term of service with the Company but will be subject to retirement and re-election as Executive Director at the forthcoming annual general meeting and thereafter subject to retirement by rotation and re-election at annual general meetings of the Company in accordance with the bye-laws of the Company. The remuneration of Mr. Guan will be determined by the Board based on the recommendation of the Remuneration Committee of the Company with reference to his qualification, experience, duties and responsibilities with the Company. The Company will disclose the remuneration of Mr. Guan during the reporting period in the annual report.

Save as disclosed in this announcement, Mr. Guan did not hold any directorship in any public companies the securities of which are listed on any securities markets in Hong Kong or overseas in the last three years, nor did he have any relationship with any Directors, senior management or substantial or controlling shareholder (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) of the Company. As at the date of this announcement, Mr. Guan did not have any interest in the shares or underlying 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, the Board is not aware of any other matters relating to the appointment of Mr. Guan as an Executive Director and the Chief Executive Officer of the Company that need to be brought to the attention of the shareholders of the Company, and there is no information relating to Mr. Guan that is required to be disclosed pursuant to any requirements of Rule 13.51(2) of the Listing Rules.

3. CHANGE OF AUTHORISED REPRESENTATIVE

Following the resignation of Mr. Ji as an Executive Director, he ceased to be one of the Authorised Representatives of the Company for the purpose of Rule 3.05 of the Listing Rules and the Authorised Representative of the Company for accepting on the Company's behalf service of process or notices to be served on the Company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) with effect from 18 October 2019.

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The Board is pleased to announce that Mr. Guan has been appointed as the Authorised Representative under the Listing Rules of the Company and the Authorised Representative under the Companies Ordinance of the Company with effect from 18 October 2019.

4. CHANGE OF COMPOSITION OF BOARD COMMITTEES

Upon Mr. Ji's resignation, he also ceased to be a member of the Nomination Committee and a member of the Remuneration Committee of the Board. The Board is pleased to announce that Mr. Guan has been appointed as a member of the Nomination Committee and a member of the Remuneration Committee with effect from 18 October 2019.

5. APPRECIATION

The Board would like to take this opportunity to express its sincere gratitude to Mr. Ji for his valuable contributions to the Group during his tenure of office and to extend its warm welcome to Mr. Guan on his new appointments.

On behalf of the Board

CHTC Fong's International Company Limited

Ye Maoxin

Chairman

Hong Kong, 18 October 2019

As at the date of this announcement, the Company's Executive Directors are Mr. Ye Maoxin (Chairman), Mr. Guan Youping (Chief Executive Officer), Mr. Du Qianyi (Chief Financial Officer) and Mr. Wu Xudong; the Non-executive Director is Mr. Fong Kwok Leung, Kevin; and the Independent Non-executive Directors are Mr. Ying Wei, Dr. Yuen Ming Fai and Mr. Li Jianxin.

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