CW Group Holdings Limited

To: Business Editor / Reporter [For Immediate Release]

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CW Group Forms a JV Company with Zhejiang Hua HangLeveraging the Opportunities Presented by "Industry 4.0" To Strengthen the Presence in the PRC Market

(Hong Kong, 7 November 2016) Leading precision engineering solutions provider, CW Group Holdings Limited ("Company", together with its subsidiaries, the "Group", stock code: 1322) announced that its indirect wholly owned subsidiary CW International (Shanghai) Co., Ltd ("CWISH") and Zhejiang Hua Hang Investment Limited ("Zhejiang Hua Hang") have entered into a letter of intent in relation to the formation of a joint venture company (the "JV Company") in the PRC. The JV Company will be held as to 50% by each of the parties respectively.

The JV Company will be formed for the purpose of delivering state of the art industrial design and human-centered process solutions to clients in the PRC, who are seeking to integrate technologies from the Fourth Industrial Revolution ("Industry 4.0"). Tapping on the expertise and resources of its Europe Asia team, the Group will assist the JV Company to undertake and pursue smart factories projects, thus to engineer the capabilities and know-how of innovation and intelligent production for manufacturing industries in the PRC, seizing the huge opportunities offered in the PRC market.

Mr. William Wong, Chairman and CEO of the Group, stated: "The establishment of the JV Company will enable the Group to introduce state of the art industrial design and innovation to companies in the PRC, which can not only enhance its comprehensive service, but also add further value to its customers. The strategic partnership between the two parties formed under the JV Company will further strengthen the leading position of the Group in the Asia Pacific Region and make significant contributions to the progress of "Industry 4.0" in the PRC."

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About CW Group Holdings Limited (stock code: 1322) CW Group Holdings Limited is a one-stop precision engineering solutions provider and machine tool manufacturer and distributor. Headquartered in Singapore with production facilities in the PRC, the Group serves customers from a wide range of industries, including, precision machine tool engineering, energy, electronic/semi-conductor, automotive, oil and gas, marine and aerospace industries.

About Zhejiang Hua Hang Investment Limited Zhejiang Hua Hang was established on 18 June 2015 in the PRC with a registered share capital of RMB50 million. It is a wholly owned venture capital firm established by Zhejiang Yangtze Delta Region Institute of Tsinghua University, has the key focus to invest in high technology companies. Zhejiang Hua Hang is held as to 35%, 35% and 30% by AVIC Trust Co., Ltd., Zhejiang Zhe Hua Investments Co., Ltd and VisionMax Asset Management (Beijing) Co., Ltd.

This press release is released by PR ASIA Consultants Limited, on behalf of CW Group Holdings Limited. For more information or enquiries, please contact: Lorraine Lam / Dorothy Ying / Janice Cheung Tel: +852 3183 0230 / 3183 0241 / 3183 0252 Fax: +852 2583 9138 Email: cwgroup@prasia.net