Sun Kong : PROFIT WARNING

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)

PROFIT WARNING

This announcement is made by Sun Kong Holdings Limited (the "Company", together with its subsidiaries, collectively the "Group") pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") and the Inside Information Provisions (as defined under the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the "Board") of directors of the Company (the "Directors") wishes to inform the shareholders of the Company and potential investors that, based on a preliminary review of the unaudited consolidated management accounts of the Group for the nine months ended 31 December 2020, the Group is expected to record a net loss of not less than HK$2.0 million for the nine months ended 31 December 2020 as compared to a net profit of HK$4.2 million for the nine months ended 31 December 2019.

Economic contraction caused by the outbreak of the novel coronavirus pandemic in 2020 leads to decline in crude oil prices since the beginning of 2020. Reinforced customs clearance arrangements between mainland China and Hong Kong seriously affect cross-border transportation. As a result, market demand for diesel oil from the logistics sector was reduced. Although the Group offered competitive price to maintain sales volume amidst an incredibly difficult trading environment, decline in gross profit margin and continuous increase in operating costs contribute to a net loss.

The Company is still in the course of finalising its unaudited consolidated financial results of the Group for the nine months ended 31 December 2020. The information contained in this announcement is only based on the preliminary assessment made by the Board with reference to the unaudited consolidated management accounts of the Group for the nine months ended 31 December 2020 and the information currently available to the Company.

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Such information has neither been confirmed nor audited by the independent auditor of the Company or the audit committee of the Company and may be subject to changes. Shareholders of the Company and potential investors are advised to refer to the third quarterly results of the Group for the nine months ended 31 December 2020, which is expected to be published on 9 February 2021.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Sun Kong Holdings Limited

Law Ming Yik

Chairman and executive Director

Hong Kong, 3 February 2021

As at the date of this announcement, the executive Directors of the Company are Mr. LAW Ming Yik (chairman) and Mr. LI Isaiah (chief executive officer); and the independent non-executive Directors of the Company are Mr. FENN David, Mr. WONG Ka Chun, Matthew and Mr. HO Cheung Kong.

This announcement, for which the Directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. 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.

This announcement will remain on GEM's website at www.hkgem.com on the "Latest Listed Company Information" page for at least 7 days from the date of its posting. This announcement will also be published on the Company's website at www.skhl.com.hk.

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