Shanghai Dasheng Agriculture Finance Technology : INSIDE INFORMATION UPDATE ON LEGAL PROCEEDINGS

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

(Stock code: 1103)

INSIDE INFORMATION

UPDATE ON LEGAL PROCEEDINGS

This announcement is made by Shanghai Dasheng Agriculture Finance Technology Co., Ltd. (上海 大生農業金融科技股份有限公司) (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 23 September 2019, 18 October 2019, 22 October 2019, 4 December 2019, 10 December 2019 and 6 January 2020 in relation to the Jiujiang Legal Proceedings and the Gongpai Auction and the announcements of the Company dated 29 June 2018, 1 March 2019 and 30 May 2019 in relation to, among other things, the CEFC Legal Proceedings (the "Announcements"). Unless the context otherwise requires, the terms used in this announcement shall have the same meanings as those defined in the Announcements.

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On 24 February 2020, the Company received an execution ruling dated 19 January 2020 issued by the Shanghai Court in relation to the CEFC Legal Proceedings and the successful auction of the Nantong Shares (the "CEFC Execution Ruling"). According to the CEFC Execution Ruling, the successful bidder is eligible to initiate the transfer of the Company's interest in the Nantong Shares from the date of receipt of the CEFC Execution Ruling. Upon completion of the transfer of the Nantong Shares, Nantong Road and Bridge will no longer be a subsidiary of the Company.

By order of the Board

Shanghai Dasheng Agriculture Finance Technology Co., Ltd.

Lan Huasheng

Chairman

Shanghai, PRC, 24 February 2020

As at the date of this announcement, the Board comprises three executive directors: Mr. Lan Huasheng, Mr. Wang Liguo and Mr. Yan Zebin; one non-executive director: Mr. Lu Tingfu; and two independent non-executive directors: Mr. Chung Cheuk Ming and Mr. Yang Gaoyu.

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