Duiba : SUPPLEMENTAL ANNOUNCEMENT PROFIT WARNING

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DUIBA GROUP LIMITED

兌吧集团有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1753)

SUPPLEMENTAL ANNOUNCEMENT

PROFIT WARNING

This announcement is issued by Duiba Group Limited (the "Company", and together with its subsidiaries, the "Group") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 14 August 2020 (the "Announcement") in relation to the profit warning of the results of the Company for the six months ended 30 June 2020. Terms used herein shall have the same meanings as defined in the Announcement unless otherwise stated.

The Board would like to provide further information to the Shareholders and potential investors of the Company that, based on the Management Accounts and the information currently available to the Board, the Group is expected to record an adjusted loss for the period1 ranging from approximately RMB22 million to RMB25 million for the six months ended 30 June 2020 as compared to the adjusted profit for the period1 of approximately RMB126 million for the same period in 2019, main reasons of which are set out in the Announcement.

As at the date of this announcement, the Company is still in the process of finalising the unaudited consolidated financial results of the Group for the six months ended 30 June 2020. Therefore, the information contained in this announcement is based solely on a preliminary review on the Management Accounts and other relevant information currently available to the Board. The Management Accounts have neither been confirmed nor audited by the Company's independent auditor, nor reviewed by the audit committee of the Company and may be subject to change. Shareholders and potential investors are therefore advised to read carefully the interim results announcement of the Company for the six months ended 30 June 2020, which is expected to be published on or before 31 August 2020.

• The Company defines "adjusted loss/profit for the period" as loss/profit for the period, adding back share- based payment, listing expenses and changes in fair value of financial liabilities at fair value through profit or loss. Adjusted loss/profit for the period is not a measure required by or presented in accordance with HKFRSs. The use of adjusted loss/profit for the period has limitations as an analytical tool, and Shareholders and potential investors should not consider it in isolation from, or as a substitute for analysis of, the results of operations or financial condition of the Company as reported under HKFRSs.

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Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

DUIBA GROUP LIMITED

Chen Xiaoliang

Chairman

Hangzhou, China, 20 August 2020

As at the date of this announcement, the Board comprises Mr. Chen Xiaoliang, Mr. Zhu Jiangbo, Ms. Chen Ting and Mr. Cheng Peng as executive Directors, Mr. Huang Tao and Mr. William Peng as non-executive Directors and Mr. Kam Wai Man, Dr. Ou-Yang Hui and Dr. Gao Fuping as independent non-executive Directors.

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