PDF《雄岸科技集团有限公司》

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1 ― 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.

Grandshores Technology Group Limited 雄岸科技集团有限公司(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1647) ACQUISITION OF 40% EQUITY INTEREST IN HANGZHOU YUPU TRADING CO., LTD. The board (the "Board") of directors (the "Directors") of Grandshores Technology Group Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce that on

25 April

2019 (after trading hours), Grandshores Technology (Hong Kong) Limited ("GSHK", a wholly owned subsidiary of the Company) and a third party (the "Vendor") entered into an equity transfer agreement (the "Agreement") relating to Hangzhou Yupu Trading Co., Ltd.* (杭州舜朴贸易有限 公司) (the "Target Company"). Pursuant to the Agreement, GSHK has conditionally agreed to purchase and the Vendor has conditionally agreed to sell 40% equity interest in the Target Company for a consideration of RMB4,000,000 (the "Acquisition"). In accordance with the Agreement, GSHK shall pay RMB2,000,000 to the Vendor as earnest money (the "Earnest Money") within

20 working days after entering into the Agreement. If the completion of equity transfer of the Target Company will not be taken place by GSHK and the Vendor before

25 July 2019, the Earnest Money will be returned to GSHK. If the completion of equity transfer of the Target Company will be taken place by GSHK and the Vendor before

25 July 2019, the Earnest Money will be applied as partial payment of the purchase consideration. The Target Company was established in the People's Republic of China in December

2016 with a registered capital of RMB10,000,000. It has entered into a framework agreement with Crops Research Institute of Heilongjiang Academy of Agricultural Sciences* (黑龙江省农业科学院经济 作物研究所) ("CRIHAAS") relating to the transfer of right to use LongDaMa No. 5* (龙大麻

5 号) for twelve months from

10 April

2019 to

10 April

2020 ("Framework Agreement"). Pursuant to the Framework Agreement, CRIHAAS will provide the Target Company with 1,600 kilograms of LongDaMa No.

5 seeds with bud rate of not less than 85%, clarity of not less than 95% and purity of not less than 90%. It estimates that the planting area for the aforesaid 1,600 kilograms seeds shall reach 40,000 mu. To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, the Vendor is not a connected person (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) of the Company. *? for identification purposes only ―

2 ― Upon completion of the Acquisition, the Group will own 40% equity interest in the Target Company and the Target Company will become an indirect non-wholly owned subsidiary of the Company. The Board considers that the Acquisition will provide a good foundation for the Group to carry out hemp cultivation and processing businesses and lay out the industrial chain of hemp businesses in Heilongjiang. The Board believes that the Acquisition is in the interests of the Company and its shareholders as a whole. Based on all applicable percentage ratios, the Acquisition does not constitute a notifiable transaction for the Company under Chapter