HongDa Financial : RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1822)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of HongDa Financial Holding Limited (the "Company") announce that Mr. Wong Yiu Kit, Ernest ("Mr. Wong") resigned as an independent non-executive Director with effect from 27 July 2020 due to his other business engagement. Following the resignation of Mr. Wong, Mr. Wong ceased to be a member of each of the audit committee, nomination committee and remuneration committee of the Company with effect from 27 July 2020.

Mr. Wong has confirmed that he has no disagreement with the Board and there are no matters in relation to the resignation of Mr. Wong that should be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited.

The Board wishes to express its sincere gratitude to Mr. Wong for his valuable contribution towards the Company during his tenure of office.

By order of the Board

HongDa Financial Holding Limited

Qiu Bin

Chairman and Executive Director

Hong Kong, 27 July 2020

As at the date of this announcement, the Board comprises Mr. Qiu Bin (Chairman and CEO) and Ms. Sin Pui Ying as executive Directors; Mr. Cheng Chai Fu as non-executive Director and Mr. Zhao Xianming, Mr. Fung Tze Wa and Mr. An Dong as independent non-executive Directors.