Fufeng Group Limited — Share Issue/Capital Change 2022

Jul 4, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, 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 document.

==> picture [74 x 57] intentionally omitted <==

Fufeng Group Limited 阜豐集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 546)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules (the “ Listing Rules ”) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”). The board of directors (the “ Board ”) of Fufeng Group Limited (the “ Company ”) announces that on 4 July 2022, the Company has resolved to grant 2,000,000 share options (the “ Share Option(s) ”) to subscribe for ordinary shares of HK$0.1 each (the “ Shares ”) of the Company, subject to acceptance of two grantees who are management of the Company, under the Company’s new share options scheme adopted on 12 May 2017. The following are the details of the Share Options granted:

Date of Grant:

4 July 2022

Exercise price of Share Options granted:

Each Share Option shall entitle the holder of the Share Option to subscribe for one Share upon exercise of such Share Option at an exercise price of HK$4.96 per Share

Number of Share Options granted:

2,000,000 Share Options

Closing price of the Shares on HK$4.96 per Share [(note)] date of grant:

– 1 –

Validity period of the Share Options:

The Share Options may be exercised within four years from the expiry of two years from 4 July 2022, provided that the maximum number of Shares which the grantee is entitled to subscribe shall not exceed (a) 25% of the total number of Shares subject to the Share Options during the first year of such four-year period; (b) 50% of the total number of Shares subject to the Share Options during the second year of such four-year period (which shall take into account the Shares subscribed in the previous year pursuant to the exercise of the Share Options); (c) 75% of the total number of Shares subject to the Share Options during the third year of such four-year period (which shall take into account the Shares subscribed in the previous two years pursuant to the exercise of the Share Options); and (d) the total number of Shares subject to the Share Options during the last year of such four-year period (to the extent that the Share Options have not been exercised in full in the previous three years).

Neither of the grantees of the Share Options are director, chief executive or substantial shareholder of the Company, nor an associate (as defined under the Listing Rules) of any of them.

Note: the exercise price represents the highest of (i) the closing price of HK$4.96 per Share as stated in the daily quotations sheet issued by the Stock Exchange on 4 July 2022 (that is, the date of grant); (ii) the average closing price of HK$4.52 per Share as stated in the daily quotations sheet issued by the Stock Exchange for the 5 business days immediately preceding 4 July 2022; and (iii) the nominal value of the Share.

By order of the Board Fufeng Group Limited Li Xuechun Chairman

Shandong, the PRC 4 July 2022

As at the date of this announcement, the executive directors of the Company are Mr. Li Xuechun, Mr. Li Deheng and Mr. Li Guangyu and the independent non-executive directors of the Company are Mr. Lau Chang Wai, Mr. Zhang Youming and Ms. Li Ming.

– 2 –