Sun Kong : ANNOUNCEMENT OF THIRD QUARTERLY RESULTS FOR THE NINE MONTHS 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.

SUN KONG申港HOLDINGS控股有限公司LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8631)

ANNOUNCEMENT OF THIRD QUARTERLY RESULTS FOR THE NINE MONTHS ENDED 31 DECEMBER 2020

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.

This announcement, for which the directors (the "Directors") of Sun Kong Holdings Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company and its subsidiaries (together the "Group"). The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief, the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

1

HIGHLIGHTS

• The Group recorded a revenue of approximately HK$180.8 million for the nine months ended 31 December 2020, representing a decrease of approximately HK$118.6 million or 39.6% as compared to the Group's revenue of approximately HK$299.4 million for the nine months ended 31 December 2019.
• The Group's gross profit margin decreased from approximately 3.8% for the nine months ended 31 December 2019 to approximately 1.7% for the nine months ended 31 December 2020.
• The Group recorded a loss attributable to the owners of the Company of approximately HK$3.0 million for the nine months ended 31 December 2020, representing a decrease of approximately HK$7.2 million or 171.4%, as compared to the Group's profit attributable to the owners of the Company of approximately HK$4.2 million for the nine months ended 31 December 2019.
• The Board does not recommend the payment of any dividend for the nine months ended 31 December 2020.

2

The board of Directors (the "Board") is pleased to announce the unaudited condensed consolidated third quarterly results of the Group for the three months ended 31 December 2020 and nine months ended 31 December 2020 (the "Reporting Period"), together with the respective unaudited comparative figures for the corresponding periods in 2019, as follows:

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the three months and the nine months ended 31 December 2020

		Three months ended	Nine months ended
		31 December	31 December
		2020			2019			2020	2019
	Notes	HK$'000	HK$'000	HK$'000	HK$'000
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Revenue	3	55,322			95,360			180,798	299,381
Cost of sales		(54,340)	(93,555)	(177,745)	(288,136)
Gross profit		982			1,805			3,053	11,245
Other income		-	232			1,246	518
Administrative and other
operating expenses		(3,026)	(2,232)	(7,855)	(6,877)
Finance costs	4	(48)	(34)	(149)	(92)
(Loss) Profit before tax	4	(2,092)	(229)	(3,705)	4,794
Income tax credit (expenses)	5	317			98			719	(573)
(Loss) Profit and total
comprehensive
(loss) income for the
period		(1,775)	(131)	(2,986)	4,221
(Loss) Earnings per share
Basic and diluted (HK cents)	6	(0.44)	(0.03)	(0.75)	1.06

3

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the nine months ended 31 December 2020

					Reserves
	Share	Share		Capital	Accumulated
	capital	premium		reserve		profits	Total	Total
	HK$'000	HK$'000		HK$'000		HK$'000	HK$'000	HK$'000
At 1 April 2019 (Audited)	4,000		44,810	10	12,142	56,962		60,962
Profit and total comprehensive
income for the period	-	-		-	4,221	4,221		4,221
At 31 December 2019 (Unaudited)	4,000		44,810	10	16,363	61,183		65,183
At 1 April 2020 (Audited)	4,000		44,810	10	13,841	58,661		62,661
Loss and total comprehensive loss
for the period	-	-		-	(2,986)	(2,986)	(2,986)
At 31 December 2020 (Unaudited)	4,000		44,810	10	10,855	55,675		59,675

4