Huiyin : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2019

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HUIYIN HOLDINGS GROUP LIMITED

匯 銀 控 股 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 1178)

SUPPLEMENTAL ANNOUNCEMENT

IN RELATION TO THE ANNUAL REPORT

FOR THE YEAR ENDED 30 JUNE 2019

Reference is made to the annual report of Huiyin Holdings Group Limited (the ''Company'') for the year ended 30 June 2019 (the ''2019 Annual Report''). Unless otherwise defined, capitalized terms used herein shall bear the same meanings as defined in the 2019 Annual Report.

In addition to the information provided in the 2019 Annual Report, the Board would like to provide the following supplementary information.

Other operating expenses

The other operating expense items were mainly amortisation and impairment losses of intangible assets of approximately HK$4,227,000 and HK$5,470,000 respectively and an impairment loss of goodwill of approximately HK$3,703,000. Healthcare food products business had suffered an operating loss for the Year. The Group assessed the recoverable amount of the CGU related to healthcare food products business was lower than the carrying amount of this CGU. Therefore, the impairment losses of intangible assets and goodwill allocated to this CGU were recognised in other operating expenses.

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Share option scheme

Details of movements of the Options during the Year are as follows:

					Number of share options
			Balance as	Granted	Lapsed	Balance as	Exercise
Categories			at 1 July	during the	during the	at 30 June	price per
of grantees	Date of grant	Exercise period	2018		year	year	2019	share
					(Note 1)						HK$
Employees	21 March 2016	21/3/2016-	92,000,000		-	(92,000,000)	-	0.145
		20/3/2026
	4 April 2019	4/4/2019-	-	29,765,000	-	29,765,000	0.5
		3/4/2029
			92,000,000		29,765,000	(92,000,000)	29,765,000
Consultants	21 March 2016	21/3/2016-	150,000,000		- (150,000,000)	-	0.145
(Note 2)		20/3/2026
			242,000,000		29,765,000	242,000,000	29,765,000

Notes:

1. The closing price per share immediately before 4 April 2019, the date of offer to grant, was HK$0.42.
2. To the best of the Directors' knowledge and information and having made all reasonable enquiries, the consultants and their associates are not connected persons of the Company as defined under the Listing Rules. The Options were granted to four persons, who are a financing and project consultant, an investment project consultant, a PRC legal adviser and a business consultant, in accordance with the Share Option Scheme. The Board considered, in its sole discretion, these consultants had contribution or would contribute to the Group. The grant of the Options to the consultants had not formed part of the consideration for the consulting arrangement between the consultants and the Company.

Save as disclosed in this announcement, the remaining contents of the 2019 Annual Report remain unchanged.

By order of the Board

Huiyin Holdings Group Limited

Kam Kit

Chairman and Non-executive Director

Hong Kong, 20 August 2020

As at the date of this announcement, the Board comprises Mr. Li Dongming, Mr. Jiang Bian, Mr. Chin Wai Keung Richard, Mr. Shi Zhengjian and Mr. Han Qingyun as executive Directors; Mr. Kam Kit as non-executive Director; and Mr. Leng Xiaokang, Ms. Hui Yuet Yuet and Ms. Yang Bei as independent non-executive Directors.

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