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

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.

(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 18 August 2015, 24 December 2015, 28 April 2016, 27 July 2016, 21 March 2018, 3 December 2018, 11 July 2019, 22 January 2020, 26 May 2020, 30 November 2020, 3 December 2020 and 25 February 2021 in relation to, among other things, the Acquisition, the Equity Pledge Agreement and the Zhiying 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.

The Company noticed from the network platform of Gongpai Auction on 2 March 2021 that the rescheduled Auction in relation to the Shanghai Runtong Shares between 27 February 2021 and 2 March 2021 was not successful.

Following the aforesaid failure of the re-scheduled Auction, the Company recently noticed that an updated auction announcement has been published on Gongpai Auction, putting the Shanghai Runtong Shares on auction during the period between 27 April 2021 and 30 April 2021, with a revised reserve price of RMB23.08 million.

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Shareholders and potential investors of the Company should note that the Shanghai Runtong Shares may not be successfully sold if there is no bidder. The Company will publish announcement(s) to update the status of the auction of the Shanghai Runtong Shares as and when appropriate.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in securities of the Company.

By order of the Board

Shanghai Dasheng Agriculture Finance Technology Co., Ltd.

Lan Huasheng

Chairman

Shanghai, PRC, 14 April 2021

As at the date of this announcement, the Board comprises two executive directors: Mr. Lan Huasheng

and Mr. Wang Liguo; one non-executive director: Mr. Lu Tingfu; and three independent non-executive

directors: Mr. Chung Cheuk Ming, Mr. Yang Gaoyu and Mr. Liu Jun.

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