China Baoli Technologies : DELAY IN PUBLICATION OF AUDITED ANNUAL RESULTS AND DESPATCH OF ANNUAL REPORT AND POSTPONEMENT OF BOARD MEETING

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China Baoli Technologies Holdings Limited

中國寶力科技控股有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 164)

DELAY IN PUBLICATION OF AUDITED ANNUAL RESULTS

AND DESPATCH OF ANNUAL REPORT

AND

POSTPONEMENT OF BOARD MEETING

References are made to the announcement of China Baoli Technologies Holdings Limited (the "Company") dated 24 June 2020 in relation to a meeting of the board (the "Board") of directors (the "Director(s)") of the Company to be held on 30 June 2020 for the purpose of, among other matters, approving the announcement of the unaudited annual results of the Company and its subsidiaries (the "Group") for the year ended 31 March 2020 (the "Announcement"), the announcement of the Company dated 30 June 2020 in relation to the unaudited annual results of the Group for the year ended 31 March 2020, and the announcement of the Company dated 21 July 2020 in relation to a meeting of the Board to be held on Friday, 31 July 2020 for the purpose of, among other matters, approving the announcement of the audited annual results of the Group for the year ended 31 March 2020 (the "Audited Annual Results") (the "Audited Annual Results Announcement").

As disclosed in the Announcement, in light of the suspension of work, quarantine measures and travel restrictions imposed due to the outbreak of the novel coronavirus (COVID-19) epidemic, the audit process of the financial statements of the Group for the year ended 31 March 2020 has been affected.

Having discussed with the auditor of the Company and in view of the continued travel restrictions implemented in the PRC and the current auditing progress, it is expected that additional time is required to complete the audit procedures for the Audited Annual Results. Barring unforeseen circumstances, the Board expects that the Audited Annual Results Announcement will be published on or before 21 August 2020 and the 2019-20 annual report will be despatched on or before 31 August 2020.

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A meeting of the Board originally scheduled to be held on Friday, 31 July 2020 will be postponed to around 21 August 2020 for the purpose of, among other matters, approving the Audited Annual Results Announcement. The Company will publish further announcement(s) to inform the shareholders of the Company of the date of the Board meeting to approve the Audited Annual Results Announcement as and when appropriate.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange has been suspended with effect from 9:00 a.m. on 2 July 2019 and will remain suspended until further notice pending the fulfilment of the resumption conditions.

By order of the Board

China Baoli Technologies Holdings Limited

Zhang Yi

Chairman

Hong Kong, 30 July 2020

As at the date of this announcement, the executive Directors are Mr. Zhang Yi (Chairman), Ms. Chu Wei Ning (Chief Executive Officer) and Ms. Lam Sze Man; and the independent non-executive Directors are Mr. Chan Fong Kong, Francis, Mr. Chan Kee Huen, Michael and Mr. Feng Man.

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