Good Resources : QUARTERLY UPDATE ON STATUS OF RESUMPTION

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.

GOOD RESOURCES HOLDINGS LIMITED

˂ϓ਷ყණྠછٰϞࠢʮ̡*

(incorporated in Bermuda with limited liability)

(Stock Code: 109)

QUARTERLY UPDATE ON STATUS OF RESUMPTION

This announcement is made by Good Resources Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated (i) 24 September 2020 in relation to, among others, the Loan Transactions; (ii) 30 September 2020 in relation to, among others, the delay in publication of the 2020 Annual Results; (iii) 12 October 2020 in relation to the engagement of an independent forensic accountant; (iv) 28 October 2020 in relation to the Initial Resumption Guidance set by the Stock Exchange for the Company; (v) 22 December 2020 in relation to the quarterly update on status of resumption; (vi) 7 January 2021 in relation to the Additional Resumption Guidance set by the Stock Exchange for the Company; and (vii) 26 February 2021 in relation to the delay in publication of the 2020/21 Interim Results (collectively, the ''Announcements''). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

BUSINESS OPERATIONS

As at the date of this announcement, the Group continues to principally engage in financial services business, including the provision of loans, leasing and commercial factoring services.

UPDATE ON THE RESUMPTION PLAN

As disclosed in the announcements dated 28 October 2020 and 7 January 2021 of the Company, the Stock Exchange has set out the following Resumption Guidance for the Company:

• (a) publish all outstanding financial results required under the Listing Rules and address any audit modifications;

• (b) conduct an appropriate independent forensic investigation into the Loan Transactions, announce the findings and take appropriate remedial actions;

• (c) announce all material information for the Company's shareholders and investors to appraise its position; and

(d) demonstrate the Company's compliance with Rule 13.24 of the Listing Rules.

As at the date of this announcement, the investigation into the Loan Transactions is still on-going, and therefore the 2020 Annual Results and the 2020/21 Interim Results have been affected and yet to be finalised. Accordingly, the publications of the 2020 Annual Results and the 2020/21 Interim Results are still pending.

The Company is taking appropriate steps to fulfil the Resumption Guidance and will update the shareholders and potential investors of the Company on, among others, the progress 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 1:00 p.m. on 23 September 2020, and will remain suspended until further notice.

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

Good Resources Holdings Limited

Chen Chuanjin Chairman and Executive Director

Hong Kong, 22 March 2021

As at the date of this announcement, (i) the executive Directors are Mr. Chen Chuanjin and Mr. Chen Shi; and (ii) the independent non-executive Directors are Mr. Chau On Ta Yuen, Mr. Zhang Ning and Mr. Wong Hok Bun, Mario.

In the case of inconsistency, the English text of this announcement shall prevail over the Chinese text.

*

For identification purposes only