Television Broadcasts Limited — Capital/Financing Update 2020

Mar 30, 2020

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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China Fortune Financial Group Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 290)

Website: http://www.290.com.hk

VOLUNTARY ANNOUNCEMENT REDEMPTION OF CONVERTIBLE BONDS AT MATURITY

This announcement is made by China Fortune Financial Group Limited (the “ Company ”) on a voluntary basis.

Reference is made to the circulars of the Company dated 7 October 2016 and 13 December 2016 (the “ Second Circular ”) and the announcements of the Company dated 21 September 2016, 22 November 2016, 30 March 2017 and 5 July 2018 in relation to, among other things, the New Convertible Bonds issued under the Specific Mandate. Capitalised terms used herein shall have the same meanings as those defined in the Second Circular unless otherwise stated.

REDEMPTION OF THE CINDA CONVERTIBLE BONDS

On 27 April 2017, approximately 51.74% of the original principal amount of the Cinda Convertible Bonds, which was equivalent to the amount of HK$57,300,000, was converted into New Shares. After completion of conversion, 955,000,000 New Shares were issued to Mankind Investment on 28 April 2017.

The Cinda Convertible Bonds matured on 30 March 2020. Pursuant to the terms and conditions of the Cinda Convertible Bonds, the outstanding principal amount of HK$53,454,000 together with all accrued and unpaid interests shall be paid by the Company to the current bondholders of the Cinda Convertible Bonds.

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REDEMPTION OF THE PAL CONVERTIBLE BONDS

The PAL Convertible Bonds matured on 30 March 2020. Pursuant to the terms and conditions of the PAL Convertible Bonds, the outstanding principal amount of HK$153,585,000 together with all accrued and unpaid interests shall be paid by the Company to the current bondholders of the PAL Convertible Bonds.

STATUS OF THE RIVERHEAD CONVERTIBLE BONDS

Tranche 1 Bonds (in the principal amount of HK$125,661,000) were issued to Riverhead Capital on 30 March 2017 and the relevant Conversion Rights attaching to the Tranche 1 Bonds were exercised in whole on 27 April 2017. Tranche 2 Bonds (in the principal amount of HK$60,000,000) and Tranche 3 Bonds (in the principal amount of HK$60,000,000) were issued on 28 June 2017 and 5 July 2018, respectively. Tranche 4 Bonds were not issued due to non-satisfaction of certain conditions precedents. Following the partial conversion of the Tranche 3 Bonds in the amount of HK$39,000,000 on 11 January 2019, the outstanding principal of the Tranche 3 Bonds amounts to HK$21,000,000. As at the date of this announcement, the total outstanding principal of the Riverhead Convertible Bonds amounts to HK$81,000,000 with the maturity dates falling on 28 June 2020 (as for Tranche 2 Bonds) and on 5 July 2021 (as for the outstanding Tranche 3 bonds), respectively.

By order of the Board of China Fortune Financial Group Limited HUA Yang Chief Executive Officer and Executive Director

Hong Kong, 30 March 2020

As at the date of this announcement, the Board consists of three executive directors, namely Mr. XIE Zhichun (Chairman), Mr. HUA Yang and Mr. ZHU Yi; three non-executive directors, namely Mr. HAN Hanting, Mr. CHEN Zhiwei and Mr. WU Ling; and four independent non-executive directors, namely Mr. CHAN Kin Sang, Mr. CHIU Kung Chik, Mr. LI Gaofeng and Mr. LIU Xin.

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