Recently, Mr. Yunbao Wan, President of China First International Investments Holdings Limited (“CFII”), a wholly-owned subsidiary of China First Capital Group Limited (“CFCG” or the “Group;” stock code: 1269.HK), and Chairman of First Capital Western International Education New Town Investments Holdings Limited (“Western International Education New Town Investments”) (to be incorporated), and CFII representatives met with the officials of the Deyang Municipal Party Committee and Government, the Luojiang County Party Committee and Government, representatives of the Sichuan Provincial Branch of the Postal Savings Bank of China and key personnel of tertiary education institutions in Sichuan Province, to discuss development of the China (Deyang) Splendid Horizons International Education New Town (“Education Town”).

On January 13, Mr. Wan and five management team members, met with the officials of Deyang including Mr. Hui Zhao, Deputy Secretary of the Municipal Party Committee and Mayor, Fagui Feng, a member of the Standing Committee of the Municipal Party Committee and Executive Deputy Mayor, Deputy Mayor Mr. Guangyong Xu and Deputy Secretary General Mr. Shuguang Yao. And municipal officials convened a coordination meeting on the Education Town project with the persons-in-charge of development and reform, education, investment promotion, land, planning, housing and construction, industry and commerce, and administrative service centers, and also Jingyang District government officials. At the meeting, CFII gave an update on the progress of the project since the project agreement was signed on November 24, 2016, and explained the overall vision of the Education Town, the project schedule, preparation for the incorporation of the company, the operation mode of the project and other issues that require coordination of the government, so that specifics about the company's registration, launch of the first phase and overall land use of the project could be determined as soon as possible. Arrangements were made by municipal government officials in relation to the issues raised by CFII that require coordination and assigned specific persons to take charge of them to make sure the project may proceed according to schedule Heads of the various departments and functions who were present at the meeting all pledged their full support for and dedication to addressing all the issues concerning the project.

At the meeting, Mr. Wan and CFII delegates were invited by Mr. Changjiang Zeng, Secretary of the Luojiang County Committee of Deyang Municipality and County Mayor Mr. Dong Li to visit the National Vocational Education Demonstration Zone of Luojiang County and also Tianfu College of SWUFE, the Sichuan Institue of Industrial Technology and Deyang General Electronic Technology School, and other educational institutions. During the visit, Mr. Zeng explained the strategic layout of Luojiang County and her education development plan and related his wish for CFII to invest in the development of education in the county.

Furthermore, on 12 January, at the invitation of Mr. Qingchun Zou, Vice President of the Sichuan Provincial Branch of Postal Savings Bank of China, Mr. Wan and his party sat down with the bank’s finance team for a frank and friendly discussion regarding the investment and financing of CFCG's Education Town project in western China and potential strategic cooperation. The hope is that both parties could set up an effective communication mechanism in the early stage of operation of the project, thus give the development of and cooperation on the Education Town project in China a solid foundation.