Qingdao International : SUPPLEMENTAL ANNOUNCEMENT CHANGES IN EXPECTED TIMETABLE

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This announcement appears for information purpose only and does not constitute an invitation or offer to acquire, purchase, or subscribe for any securities of the Company.

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QINGDAO HOLDINGS INTERNATIONAL LIMITED ڡࢥછٰ਷ყϞࠢʮ̡*

(Incorporated in Bermuda with limited liability)

(Stock Code: 00499)

SUPPLEMENTAL ANNOUNCEMENT CHANGES IN EXPECTED TIMETABLE

Reference is made to the announcement of Qingdao Holdings International Limited (the "Company") dated 17 March 2021 (the "Announcement"). Unless the context requires otherwise, terms defined in the Announcement shall have the same meanings when used herein.

CHANGES IN BOOK CLOSURE PERIODS, DATE OF SGM AND RIGHTS ISSUE RECORD DATE, AND DELAY IN THE DESPATCH OF PROSPECTUS DOCUMENTS

As stated in the Announcement, the SGM is expected to be convened on Friday, 9 April 2021 for the Shareholders to consider and, if thought fit, approve, among others, (i) the Sale and Purchase Agreement; (ii) the Specific Mandate; and (iii) the Rights Issue. The register of members of the Company will be closed from Thursday, 1 April 2021 to Friday, 9 April 2021 (both dates inclusive) for determining the identity of the Shareholders entitled to attend and vote at the SGM.

In connection with the Rights Issue, as stated in the Announcement, the register of members of the Company will be closed from Thursday, 15 April 2021 to Wednesday, 21 April 2021 (both dates inclusive) for determining the entitlements under the Rights Issue, and the Rights Issue Record Date will be Wednesday, 21 April 2021. The Company will despatch the Prospectus Documents to the Qualifying Shareholders on Thursday, 22 April 2021.

Since more time is needed for the Company to prepare the circular containing further details of, among others, the Sale and Purchase Agreement, the Consideration CB and the Rights Issue, the Board has determined that:

(i) the register of members of the Company will be closed from Wednesday, 7 April 2021 to

Tuesday, 13 April 2021 (instead of from Thursday, 1 April 2021 to Friday, 9 April 2021) (both days inclusive) for determining the identity of the Shareholders entitled to attend and vote at the SGM, during which no transfer of Shares will be registered;

• (ii) the SGM will be convened on Tuesday, 13 April 2021 (instead of Friday, 9 April 2021) for the Shareholders to consider and, if thought fit, approve, among others, (i) the Sale and Purchase Agreement; (ii) the Specific Mandate; and (iii) the Rights Issue;

• (iii) the register of members of the Company will be closed from Monday, 19 April 2021 to Friday, 23 April 2021 (instead of from Thursday, 15 April 2021 to Wednesday, 21 April 2021) (both days inclusive) for determining the entitlements under the Rights Issue, during which no transfer of Shares will be registered;

• (iv) the Rights Issue Record Date will be Friday, 23 April 2021 (instead of Wednesday, 21 April 2021); and

• (v) the Prospectus Documents will be despatched to the Qualifying Shareholders on Monday, 26 April 2021 (instead of Thursday, 22 April 2021).

REVISED EXPECTED TIMETABLE

In view of the abovementioned changes, the expected timetable in the Announcement has been revised as follows (the amendments are highlighted in bold and italic for easy reference):

Events

Time and Date(1)

Latest time for lodging transfer of the Shares for the purpose of ascertaining Shareholders'

entitlements to attend and vote at the SGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:30 p.m. on

Thursday, 1 April 2021

Closure of register of members for the purpose of ascertaining Shareholders' entitlement to attend and vote at the SGM (both dates inclusive) . . . . . . . . . . . . . . . . . . . Wednesday, 7 April 2021 to

Tuesday, 13 April 2021

Latest time for lodging forms of proxy for the SGM . . . . . . . . . . . . . . . . . . . . . . 11:00 a.m. on

Sunday, 11 April 2021

Record date for attending and voting at the SGM . . . . . . . . . . . . . . . . Tuesday, 13 April 2021

SGM ......................................................... 11:00 a.m. on

Tuesday, 13 April 2021

Announcement of the poll results of the SGM to be published ...... Tuesday, 13 April 2021

Last day of dealings in the Shares on a cum-rights basis ........ Wednesday, 14 April 2021

First day of dealings in the Shares on an ex-rights basis . . . . . . . . . . Thursday, 15 April 2021

Latest time for lodging transfer document of the Shares in order to be qualified for the Rights Issue . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:30 p.m. on

Friday, 16 April 2021

Closure of register of members of the Company for the purpose of determining entitlements under the Rights Issue (both days inclusive) . . . . . . . . . . . . . . . . Monday, 19 April 2021 to

Friday, 23 April 2021

Rights Issue Record Date for determining

entitlements under the Rights Issue . . . . . . . . . . . . . . . . . . . . . . . . . . Friday, 23 April 2021

Register of members of the Company re-opens . . . . . . . . . . . . . . . . . . Monday, 26 April 2021

Despatch of Prospectus Documents . . . . . . . . . . . . . . . . . . . . . . . . . . Monday, 26 April 2021

First day of dealings in nil-paid Rights Shares ........................... 9:00 a.m. on

Wednesday, 28 April 2021

Latest time for splitting nil-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:30 p.m. on

Friday, 30 April 2021

Last day of dealing in nil-paid Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:00 p.m. on

Wednesday, 5 May 2021

Latest time for acceptance of and payment for the Rights Shares and for application and payment for excess Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4:00 p.m. on

Monday, 10 May 2021

Latest time to terminate the Underwriting Agreement and for the Rights Issue to become unconditional . . . . . . . . . . . . . . . . . . . . . . . 4:00 p.m. on

Tuesday, 11 May 2021

Publication of announcement of completion of the Acquisition and the issue of the Consideration CB

and the results of the Rights Issue on or before . . . . . . . . . . . . . . . . . . Friday, 21 May 2021

Despatch of refund cheques in relation to wholly or partially unsuccessful applications for excess

Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Monday, 24 May 2021

Despatch of share certificates for fully-paid

Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Monday, 24 May 2021

Commencement of dealings in fully-paid

Rights Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9:00 a.m. on

Wednesday, 26 May 2021

Issue of the Consideration CB on or before . . . . . . . . . . . . . . . . . . . . . Monday, 31 May 2021

Completion of the Acquisition on or before . . . . . . . . . . . . . . . . . . . . . Monday, 31 May 2021

AcquisitionLongStopDate .................................. Sunday,31July2021

Note:

(1)All times and dates in this announcement refer to Hong Kong local time and dates unless otherwise specified. Dates stated in this announcement for events in the timetable are indicative only and may be extended or varied. Any changes to the anticipated timetable for the Rights Issue will be announced as appropriate.

Shareholders and potential investors of the Company should note that as the Completion is subject to fulfilment of the conditions precedent set out in the Sale and Purchase Agreement, the Acquisition may or may not proceed. In addition, the Rights Issue is conditional upon, among others, the Underwriting Agreement having become unconditional and the Underwriter not having terminated the Underwriting Agreement in accordance with the terms thereof (a summary of which is set out in the section headed "Rights Issue - Termination of the Underwriting Agreement" in the Announcement).

Accordingly, the Rights Issue may or may not proceed.

The Shares will be dealt in on an ex-rights basis from Thursday, 15 April 2021. Dealings in the Rights Shares in nil-paid form are expected to take place from Wednesday, 28 April 2021 to Wednesday, 5 May 2021 (both days inclusive). Any Shareholder or other person contemplating transferring, selling or purchasing the Shares and/or Rights Shares in their nil-paid form is advised to exercise caution when dealing in the Shares and/or the nil-paid Rights Shares. Any person who is in any doubt about his/her/its position or any action to be taken is recommended to consult his/her/its own professional adviser(s). Any Shareholder or other person dealing in the Shares or in the nil-paid Rights Shares up to the date on which all the conditions to which the Rights Issue is subject are fulfilled (or waived (as appropriate)) (and the date on which the Underwriter's right of termination under the Underwriting Agreement ceases) will accordingly bear the risk that the Rights Issue may not become unconditional or may not proceed.

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

By order of the Board

Qingdao Holdings International Limited

Gao Yuzhen

Executive Director and Chairman

Hong Kong, 22 March 2021

As at the date of this announcement, the Executive Directors are Mr. Gao Yuzhen (Chairman), Mr. Yuan Zhi (Deputy Chairman and Chief Executive Officer) and Mr. Hu Liang; the Non-executive Director is Mr. Li Shaoran; and the Independent Non-executive Directors are Mr. Yin Tek Shing, Paul, Mr. Wong Tin Kit, Ms. Zhao Meiran and Mr. Li Xue.

*For identification purposes only