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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities or an invitation to enter into any agreement to do any such things, nor is it calculated to invite any offer to acquire, purchase or subscribe for any securities. The information contained in this announcement is not for distribution or circulation, directly or indirectly, in or into the United States.

This announcement is solely for the purpose of reference and does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

GRANDA CENTURY LIMITED

(incorporated格蘭達世紀有限公司 in the Cayman Islands with limited liability)

US$600,000,000 7.50% Guaranteed Bonds due 2021 (the “Bonds”) (Stock Code: 5152)

unconditionally and irrevocably guaranteed by

SUNING APPLIANCE GROUP CO., LTD.

(incorporated in蘇寧電器集團有限公司 the People’s Republic of with limited liability)

RECENT DEVELOPMENT OF THE GUARANTOR

1 On 28 February 2021, Shenzhen International Holdings (SZ) Limited and Shenzhen Kunpeng Equity Investment Management Co., Ltd* , as （深圳市鯤鵬股權投資管理有限公司） purchasers, and Mr. , Suning Holdings Group Co., Ltd* （蘇寧控股集團有 , Suning Appliance Group Co., Ltd. (the “Guarantor”) 限公司） （蘇寧電器集團有限公司） and Xizang Trust Co., Ltd* , as vendors, entered into a framework （西藏信託有限公司） agreement (the “Framework Agreement”) in relation to the possible transfer of a total of approximately 23% of the issued shares of Suning.com Co., Ltd. (Shenzhen Stock Exchange stock code: 002024) to the purchasers by the vendors (the “Possible Transfer”). The Possible Transfer is subject to execution of definitive agreement(s), and if the parties fail to enter into definitive agreement(s) within six months after the date of the Framework Agreement, the Possible Transfer will automatically lapse.

In the event that the Possible Transfer materializes, upon completion of the Possible Transfer, Suning.com Co., Ltd. is expected to cease to be a Subsidiary (as defined in the terms and conditions of the Bonds (the “Terms and Conditions”)) of the Guarantor and thus a Change of Control under the Terms and Conditions is expected to occur. Following the occurrence of a Change of Control, the holders of the Bonds (the “Bondholders”) may exercise the right of redemption to require Granda Century Limited (the “Company”) to redeem the relevant Bondholder’s Bonds in full (but not in part).

The Bondholders are reminded that the Possible Transfer is subject to execution of definitive agreement(s) and satisfaction of conditions precedent. Therefore, there is no assurance when the parties will enter into definitive agreement(s) or at all and therefore, the Possible Transfer may or may not materialize. The Bondholders should therefore exercise caution when dealing in the Bonds. Persons who are in doubt as to the action they should take should consult their professional advisers.

2 The Company will make further announcement(s) as and when appropriate pursuant to the applicable requirements under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Granda Century Limited Bu Yang Sole Director

People’s Republic of China, 25 March 2021

As at the date of this announcement, the sole director of the Company is Ms. Bu Yang.

As at the date of this announcement, the directors of the Guarantor are Ms. Bu Yang, Mr. Pei Bo and Mr. Shu Chun.

* for identification only

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