Kingwell : SUPPLEMENTAL ANNOUNCEMENT MAJOR TRANSACTION ACQUISITION OF THE PROPERTY

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KINGWELL GROUP LIMITED

京 維 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1195)

SUPPLEMENTAL ANNOUNCEMENT

MAJOR TRANSACTION

ACQUISITION OF THE PROPERTY

Reference is made to the announcement (the "Announcement") of Kingwell Group Limited (the "Company") dated 14 August 2020 in relation to the acquisition of properties in Xuzhou City of the PRC. Unless the context otherwise requires, capitalised terms in this announcement shall have the same meanings as defined in the Announcement.

This announcement is made to provide supplemental information on the identity of the ultimate beneficial owner of the Vendor.

To the best of the knowledge, information and belief of the Directors having made all reasonable enquiries, the ultimate beneficial owner of the Vendor is a local governmental regulatory society community body established in the PRC. Each of the Vendor and its ultimate beneficial owner is third parties independent of the Company and its connected person(s) (as defined under the Listing Rules).

Save as disclosed above, all other information as set out in the Announcement remain unchanged and shall continue to be valid for all purposes. This announcement is supplemental to and should be read in conjunction with the Announcement.

By order of the board

Kingwell Group Limited

Mu Dongsheng

Chairman

Hong Kong, 27 August 2020

As at the date of this announcement, the Board comprises Mr. Mu Dongsheng and Mr. Du Yun as executive Directors, Mr. Cheung Chuen, Mr. Ling Aiwen and Mr. Lu Lin as independent non-executive Directors.