HONG KONG, CHINA - Media OutReach - 15 October 2019- CR Construction Group Holdings Limited("CR Construction", together with its subsidiaries, the "Group"; stockcode: 1582.HK), the third largest main building contractor in Hong Kong in 2018 [1] , ispleased to announce the subscription results for its shares under the publicoffer (the "Public Offer") and placing (the "Placing", collectively , the " Share Offer") . The S haresunder the Public Offer have been significantly over-subscribed by approximately 8.87 times. The o ffer p rice per Share has been set at HK$1.0 per Share.Dealings in the S hares on the Main Boardof The Stock Exchange of Hong Kong Limited ("SEHK") is expected to commence on 16October 2019 (Wednesday).

Atotal of 138,850,000 shares are offered under the Share Offer , of which 124,965,000 Shares, or 90%, are offered by wayof Placing; while the remaining 10%, or 13,885,000 Shares, are offered underthe Public Offer. Based on the final offer price of HK$1.0 per Share, the netproceeds from the Share Offer to be received by the Company (after deductingunderwriting commissions and estimated expenses in connection with the ShareOffer) is estimated to be approximately HK$96.3 million.

CR Constructionintends to use these net proceeds for the following purposes: 1) approximately87.3% will be used for financing the upfront costs for potential new buildingconstruction works and RMAA works projects; 2) approximately 8.0% will be usedin strengthening manpower; and 3) approximately 4.7% will be used in enhancinginformation technology.

First Shanghai Capital Limited is theSole Sponsor, while First Shanghai Securities Limited, Zhongtai InternationalSecurities Limited, First Capital Securities Limited, Guotai Junan Securities(Hong Kong) Limited and Haitong International Securities Company Limited arethe Joint Bookrunners and the Joint Lead Managers. Livermore Holdings Limited,CVP Securities Limited and Zinvest Global Limited are the Joint LeadManagers.  

Mr. GUANManyu, Chairman and executive Director of the Group, said, "Webelieve that the result of the Share Offer has affirmed market's recognition of the Group's business andconfidence in our future prospects. We arehonoured that investors have shown great support to the Group. Listing on the Main Board of SEHK enables the Group to further strengthen our industry position , enhance our brand recognition and capturegreater market share in the local constructionindustry."

About CR Construction Group Holdings Limited

Established in 1967, the Group is one of the leading buildingcontractors in Hong Kong with over 50 years of experience. The Groupprincipally acts as a main contractor in building construction works and RMAAworks projects across public and private sectors in Hong Kong. According to theCIC Report, it ranked the third among all main contractors in Hong Kong interms of revenue from building construction works for the year ended 31December 2018 with a market share of approximately 5.2%.