Qinqin Foodstuffs Cayman : APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company nor shall there be any sale, purchase or subscription for securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful absent the filing of a registration statement or the availability of an applicable exemption from registration or other waiver. This announcement is not for release, publication or distribution in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

Qinqin Foodstuffs Group (Cayman) Company Limited

親親食品集團（開曼）股份有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1583)

APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

Reference is made to the joint announcement (the "Joint Announcement") of Qinqin Foodstuffs Group (Cayman) Company Limited (the "Company") and Sure Wonder Limited (the "Offeror") dated 8 April 2021 in relation to, among others, the voluntary conditional cash offers by Deloitte

• Touche Corporate Finance Limited for and on behalf of the Offeror to acquire all the issued shares of the Company and to cancel all the outstanding options of the Company (other than those already owned and/or agreed to be acquired by the Offeror and/or parties acting in concert with it) (the "Offers"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Joint Announcement.

The Board is pleased to announce that on 12 April 2021, Opus Capital Limited, a corporation licensed under the SFO to carry out Type 1 (dealing in securities) and Type 6 (advising on corporate finance) regulated activities, has been appointed as the independent financial adviser of the Company (the "Independent Financial Adviser") to advise the Independent Board Committee in respect of the Offers and, in particular, as to whether the Offers are fair and reasonable and as to the acceptance of the Offers. The appointment of Opus Capital Limited as the Independent Financial Adviser has been approved by the Independent Board Committee pursuant to Rule 2.1 of the Takeovers Code.

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The letter of advice and recommendation from the Independent Financial Adviser to the Independent Board Committee will be included in the Composite Document to be despatched to the Shareholders and Optionholders in due course and in compliance with the Takeovers Code.

By Order of the Board of

Qinqin Foodstuffs Group (Cayman) Company Limited

Wong Wai Leung

Executive Director, Chief Financial Officer

and Company Secretary

Hong Kong, 12 April 2021

As of the date of this announcement, the Board comprises 12 Directors, of which three are executive Directors, namely Mr. Hui Ching Lau (Chairman), Mr. Wong Wai Leung (Chief Financial Officer and Company Secretary) and Mr. Wu Wenxu; five are non-executive Directors, namely Mr. Hui Lin Chit, Mr. Sze Man Bok, Mr. Wu Huolu, Mr. Wu Sichuan and Mr. Wu Yinhang; and four are independent non-executive Directors, namely Mr. Cai Meng, Mr. Chan Yiu Fai Youdey, Mr. Ng Swee Leng and Mr. Paul Marin Theil.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, and confirm, having made all reasonable inquiries, 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.

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