Shanghai Dasheng Agrcltr Fin Tech : Announcements and Notices - VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE RELATING TO AWARDS OF BIDDINGS WORTH APPROXIMATELY RMB1,244.8 MILLION

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(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock code: 1103)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE

RELATING TO AWARDS OF BIDDINGS WORTH

APPROXIMATELY RMB1,244.8 MILLION

This is a voluntary announcement made by Shanghai Dasheng Agriculture Finance Technology Co., Ltd. (the "Company", together with its subsidiaries, the "Group") for keeping the shareholders (the "Shareholders") of the Company and potential investors informed of the latest performance of the Group, particularly the latest development in its road and bridge construction business (the "Road & Bridge Construction Business").

The board (the "Board") of directors of the Company is pleased to announce that Nantong Road and Bridge Engineering Co., Ltd., a non-wholly owned subsidiary of the Company as to 91.31%, has recently won two biddings from an independent third party in respect of the expedite road construction projects* (Ҟ஺ʷܔணʈ೻) of (i) 231 Provincial Highway (from Haijiang Avenue to Qiyang Highway)* (231޲༸(ऎ۴ɽ༸Ї઼౮৷஺)); and (ii) Zhanqian Road (from Taihong Road to Changjiang Avenue Section)* (१ۃ༩(इߎ༩ЇڗϪɽ༸ݬ)) (collectively, the "Projects"), with the total contractual amount of approximately RMB1,244.8 million (equivalent to approximately HK$1,468.9 million). The Projects are expected to be completed within 19 months. The total contractual amount under the Projects is almost equal to the total turnover of the Group for the Road & Bridge Construction Business for the year ended 31 December 2016.

The total contractual amount derived from the Road & Bridge Construction Business for the year ended 31 December 2017 (before accounting for the Projects) was approximately RMB2,836 million (equivalent to approximately HK$3,346 million) which represents approximately 265% to the total contractual amount of approximately RMB1,071 million (equivalent to approximately HK$1,263 million) derived from the year ended 31 December 2016.

To the best knowledge of the Company, the Board considers that the awards of the Projects are the recognition of the Group's outstanding performance in construction projects and its qualification, reputation and position as a high-quality construction contractor. In view of the Projects and growing contractual amounts derived from the Road & Bridge Construction Business as disclosed above, the Group believes that the future development and prospect of the Road & Bridge Construction Business is promising and such business will also be one of the growth drivers for the Group.

The Board wishes to remind the Shareholders and potential investors of the Company that the details and terms of contracts under the Projects are yet to be finalized and its financial impact to the Group is subject to audit and further analysis, which may or may not have material impact on the financial position of the Group. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

* The English translation in this announcement is for reference only. The official names are in Chinese.

By Order of the Board

Shanghai Dasheng Agriculture Finance Technology Co., Ltd.

Lan Huasheng

Chairman

Shanghai, PRC, 8 January 2018

As at the date of this announcement, the Board comprises three executive directors: Mr. Lan Huasheng, Mr. Mo Luojiang and Mr. Wang Liguo; one non-executive director: Mr. Zhu Tianxiang; and three independent non-executive directors: Mr. Chung Cheuk Ming, Mr. Yang Gaoyu and Mr. Zhou Jianhao.

Unless otherwise stated, translation of RMB into HK$ is based on the approximate exchange rate of RMB1.00 to HK$1.18 for information purpose only. Such translation should not be construed as a representation that the relevant amounts have been, could have been, or could be converted at that or any other rate or at all.

If there is any inconsistency in this announcement between the Chinese and English versions, the English version shall prevail.