China Wah Yan Healthcare : DELAY IN PUBLICATION OF ANNUAL RESULTS AND DESPATCH OF ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

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.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 648)

DELAY IN PUBLICATION OF ANNUAL RESULTS AND

DESPATCH OF ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

Reference is made to the announcements of China Wah Yan Healthcare Limited (the ''Company'') dated 29 March 2018, 31 March 2019, 31 March 2020 (the ''Announcements'') relating to the delay in the publication of the audited 2017 Annual Results, 2018 Annual Results and 2019 Annual Results (the ''Previous Results''). Unless otherwise defined, capitalised terms used herein shall have the same meaning as those defined in the Announcements.

As disclosed in the Announcements, the Company could not publish the Previous Results due to completion of the Previous Results being subject to conclusion of the Investigation. As the publication of the Previous Results and the despatch of the corresponding annual reports are still pending, the announcement of the annual results (the ''2020 Annual Results'') and the despatch of the annual report (the ''2020 Annual Report'') of the Company for the year ended 31 December 2020 will not be ready by 31 March 2021 and 30 April 2021 respectively as required under the Listing Rules.

Pursuant to Rule 13.49(3) of the Listing Rules, where an issuer is unable to issue its preliminary results in accordance with Rule 13.49(1) of the Listing Rules, it must announce its results based on the financial results yet to be agreed with the auditors (so far as the information is available). After due and careful consideration, the Board is of the view that it would not be appropriate for the Company to announce its unaudited 2020 Annual Results at this stage, in particular, after considering that (i) completion and issuance of the Previous Results are still pending completion of the Investigation; and (ii) there may be adjustments to the unaudited 2020 Annual Results, which, accumulated

- 1 -

with those relating to the Previous Results (which are yet to be ascertained), will render the unaudited 2020 Annual Results not being accurately and fairly reflecting the financial performance and position of the Company and its subsidiaries, and their publications may be potentially misleading and/or confusing to the shareholders and potential investors of the Company.

The Company will make further announcement(s) to inform the shareholders and potential investors of the Company on the publication of the 2020 Annual Results and the 2020 Annual Report as and when appropriate.

GENERAL

Trading in the shares of the Company will continue to be suspended pending fulfilment of the Resumption Conditions. The Company will keep its shareholders and potential investors posted of any material development in this regard as and when appropriate.

Shareholders and potential investors of the Company should exercise caution when dealing in the shares of the Company.

For and on behalf of the Board of

China Wah Yan Healthcare Limited

Lam Sung Him Gaston

Company Secretary

Hong Kong, 31 March 2021

As at the date of this announcement, the board of directors of the Company Mr. Chan Ka Chung, Mr. Cheung Wai Kwan and Mr. Wang Jianguo as executive directors; and Mr. Chan Yee Ping, Michael, Ms. Hu Xuezhen and Mr. Lam Chun Ho as independent non-executive directors.

- 2 -