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.

新灃集團有限公司*

(Incorporated in Bermuda with limited liability)

(Stock Code: 01223)

(Warrant Code: 01537)

PROGRESS UPDATE

ON

DISCLOSEABLE TRANSACTION

IN RELATION TO

THE DISPOSAL OF 100% EQUITY INTERESTS

IN TARGET COMPANIES

Reference is made to the announcement of the Company dated 4 April 2018 in relation to the disposal of 100% equity interests in Target Companies (the "Announcement"). Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement unless the context requires otherwise.

The Company is pleased to announce that it has received RMB101,062,323 (or its equivalent in USD), being 20% of the Consideration.

By order of the Board

Symphony Holdings Limited

Cheng Tun Nei

Chairman

Hong Kong, 2 May 2018

* For identification purpose only 1

As at the date of this announcement, the Directors are:

Executive Directors:

Mr. Cheng Tun Nei (Chairman & Chief Executive Officer)

Mr. Chan Kar Lee Gary

Mr. Hong Kim Cheong

Independent non-executive

Mr. Shum Pui Kay

Directors:

Mr. Wah Wang Kei Jackie

Mr. Chow Yu Chun Alexander

2

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Symphony Holdings Ltd. published this content on 02 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 May 2018 10:31:06 UTC