E-Commodities Holdings Limited — Capital/Financing Update 2018

Jan 19, 2018

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.

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E-COMMODITIES HOLDINGS LIMITED 易 大 宗 控 股 有 限 公 司

(formerly known as ‘‘WINSWAY ENTERPRISES HOLDINGS LIMITED 永暉實業控股股份有限公司 ’’ ) (Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 1733)

VOLUNTARY ANNOUNCEMENT

MEMORANDUM OF UNDERSTANDING WITH YANCHENG INVESTMENT IN RESPECT OF PROPOSED JOINT VENTURE

This announcement is a voluntary disclosure made by E-Commodities Holdings Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’).

MEMORANDUM OF UNDERSTANDING

The board of directors of the Company (the ‘‘Board’’) is pleased to announce that on 19 January 2018, E-Commodities Holdings Pte. Ltd. (‘‘E-Commodities Singapore’’), a whollyowned subsidiary of the Company incorporated in Singapore, and Yancheng State-owned Assets Investment Group Company Limited (‘‘Yancheng Investment’’) entered into a memorandum of understanding (the ‘‘MOU’’) in relation to the proposed establishment of a joint venture company (the ‘‘JV Company’’) in the People’s Republic of China (the ‘‘PRC’’).

It is proposed that the JV Company will establish an integrated supply chain service platform for petrochemical products to principally engage in the international and domestic petrochemical business. By virtue of the combination of financial support from Yancheng Investment and the Group’s integrated supply chain service capabilities for petrochemical products, it is expected that the JV Company will be able to achieve significant economies of scale in the petrochemical industry. It is proposed that the JV will be established with an initial registered capital of RMB100 million to be held as to 51% by Yancheng Investment and 49% by E-Commodities Singapore. The parties to the MOU will determine further terms in the definitive transaction documents negotiated in accordance with the MOU.

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Yancheng Investment is a state-owned enterprise incorporated in the PRC and is wholly owned by the people’s government of Yancheng City in Jiangsu Province, the PRC (‘‘Yancheng Government’’). As an asset management company of Yancheng Government, Yancheng Investment focuses on the construction and industrial development of Yancheng City, and has invested in the areas of trading, logistics, tourism, cultural industry and energy. By the end of 2017, the assets under the supervision and management of Yancheng Investment amounted to RMB32.5 billion.

The Group, as one of the top supply chain service providers in the commodities industry, in the pursuit of a more balanced and sustainable business model, has expanded its supply chain services from coking coal products to various types of commodities, including but not limited to, iron ore, petrochemical products and non-ferrous metals. The Group expects to benefit from its founder’s experience for almost thirty years in the international and domestic petrochemical products business in relation to cross-border petrochemical products trading. According to its 2018 business plan, it is expected that the Company will provide supply chain services for more than 6 million tons of petrochemical products. The JV Company will also benefit from the distinctive industry capabilities of the Group in petrochemical business.

The MOU is not legally binding and the establishment of the JV Company will be dependent on E-Commodities Singapore and Yancheng Investment signing definitive, legally binding documentation. A further announcement will be made setting out the terms of the establishment of the JV Company if and when such documentation is signed.

By Order of the Board E-Commodities Holdings Limited Cao Xinyi Chairman

Hong Kong, 19 January 2018

As at the date of this announcement, the executive directors of the Company are Ms. Cao Xinyi, Mr. Wang Wengang, Ms. Zhu Hongchan and Mr. Wang Yaxu; the non-executive director of the Company is Mr. Guo Lisheng; and the independent non-executive directors of the Company are Mr. Ng Yuk Keung, Mr. Wang Wenfu and Mr. Gao Zhikai.

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