Huazhang Technology : Announcements and Notices - Supplemental Announcement in Relation to the Annual ...

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Huazhang Technology Holding Limited 華章科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1673)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE ANNUAL REPORT

FOR THE YEAR ENDED 30 JUNE 2017

Reference is made to the annual report (the "Annual Report") of Huazhang Technology Holding Limited (the "Company") for the year ended 30 June 2017. Unless defined otherwise, capitalised terms used in this announcement shall have the same meanings as those defined in the Annual Report.

In addition to the information in relation to the convertible bonds issued by the company on 29 March 2017, in the principal amount of HK$100.0 million (equivalent to approximately RMB88.8 million) (the "Convertible Bonds") as set out under, among others, the sections headed "Management Discussion and Analysis" and "Notes to the Consolidated Financial Statements", respectively, of the Annual Report, the Board would like to provide additional information on the Annual Report in respect of the use of net proceeds from the issue of the Convertible Bonds.

The net proceeds from the Convertible Bonds amounted to approximately HK$99.5 million (the "Net Proceeds"). As at 30 June 2017, approximately HK$72.8 million of the Net Proceeds, after deducting all relevant costs and expenses, had been utilised as to approximately HK$65.7 million for the Group's new intergraded solution projects and as to approximately HK$7.1 million for the Group's general working capital. The unutilised portion of the Net Proceeds of approximately HK$26.7 million as at 30 June 2017, had been placed into the Group's bank accounts maintained with licensed banks in Hong Kong and is expected to do not have any change to its plan on the use of proceeds as stated in the announcement dated 29 March 2017.

The above additional information does not affect other information contained in the Annual Report and, save as disclosed in this announcement, the remaining contents of the Annual Report remain unchanged.

For and on behalf of the Board

HUAZHANG TECHNOLOGY HOLDING LIMITED

Zhu Gen Rong

Chairman

Hong Kong, 15 January 2018

As at the date of this announcement, the executive Directors are Mr. Zhu Gen Rong, Mr. Wang Ai Yan, Mr. Jin Hao and Mr. Zhong Xin Gang, and the independent non-executive Directors are Ms. Chen Jin Mei, Mr. Dai Tian Zhu and Mr. Kong Chi Mo.

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