Crown International : MONTHLY UPDATE ANNOUNCEMENT PURSUANT TO RULE 3.7 OF THE TAKEOVERS CODE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CROWN INTERNATIONAL CORPORATION LIMITED 皇冠環球集團有限公司

(Incorporated in Hong Kong with limited liability)

(Stock code: 727)

MONTHLY UPDATE ANNOUNCEMENT PURSUANT TO

RULE 3.7 OF THE TAKEOVERS CODE

This announcement is made by Crown International Corporation Limited (the "Company") pursuant to Rule 3.7 of the Code on Takeovers and Mergers (the

"Takeovers Code").

Reference is made to the announcements of the Company dated 13 January 2021 and 11 February 2021 pursuant to Rule 3.7 of the Takeovers Code (the "Announcements"). Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

The Company wishes to provide an update to the Shareholders and potential investors that as informed by the Receivers, no formal or legally binding agreement has been entered into by the Receivers in respect of the disposal of the Relevant Shares as at the date of this announcement.

In accordance with Rule 3.7 of the Takeovers Code, monthly announcement(s) will be made until announcement of firm intention to make an offer under Rule 3.5 of the Takeovers Code or of a decision not to proceed with an offer is made. Further announcement(s) will be made by the Company as and when appropriate or required inaccordance with the Listing Rules and the Takeovers Code (as the case may be).

WARNING: THERE IS NO ASSURANCE THAT THE APPOINTMENT OF

THE RECEIVERS WILL RESULT IN A CHANGE OF CONTROL AND LEAD

TO A MANDATORY GENERAL OFFER UNDER RULE 26.1 OF THE

TAKEOVERS CODE. SHAREHOLDERS AND POTENTIAL INVESTORS

ARE ADVISED TO EXERCISE CAUTION WHEN DEALING IN THE

SECURITIES OF THE COMPANY, AND IF THEY ARE IN DOUBT ABOUT

THEIR POSITION, THEY SHOULD CONSULT THEIR PROFESSIONAL

ADVISERS.

By Order of the Board

Crown International Corporation Limited

HUNG Man

Chairman

Hong Kong, 11 March 2021

As at the date of this announcement, the Board comprises four executive Directors, namely Ms. HUNG Man, Mr. LI Yong Jun, Mr. LIU Hong Shen and Mr. MENG Jin Long; and four independent non-executive Directors, namely Mr. LONG Tao, Mr. REN Guo Hua, Mr. CHEN Fang, Mr. WONG Siu Hung, Patrick.

The directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statements in this announcement misleading.