Wai Chi : Announces Audited Annual Results Matching the Data Published Last Month Profit for the Year Attributable to Owners of the Company Grew 66.3%

【For immediate release】

(Stock Code: 1305.HK)

Wai Chi Holdings Announces Audited Annual Results

Matching the Data Published Last Month

Profit for the Year Attributable to Owners of the Company Grew 66.3%

(Hong Kong, 27 April 2022)-Wai Chi Holdings Company Limited ("Wai Chi Holdings", together with its subsidiaries collectively known as the "Group") (Stock Code: 1305.HK) is pleased to announce its audited annual results for the year ended 31 December 2021 ("the year under review"). The auditing process for the annual results of the year under review was not completed in March 2022 due to the implementation of the COVID-19 pandemic prevention and control quarantine measures in certain cities in the PRC, including but not limited to being unable to obtain audit confirmation letters from banks located in PRC region. With the efforts of the Company and its auditors, the results for the year under review are now audited and published, matching the unaudited data published last month.

The total revenue for the year under review was approximately HK$1,922,595,000, representing an increase of 37.7% compared to approximately HK$1,395,888,000 for the year ended 31 December 2020 ("2020"). Revenue from the core business sectors was approximately HK$1,603,450,000, representing an increase of 50.9% as compared to approximately HK$1,062,451,000 in 2020. Overall gross profit was approximately HK$282,197,000, increased by 42.2% from approximately HK$ 198,417,000 in 2020. Profit for the year attributable to owners of the Company amounted to approximately HK$51,469,000, an increase of 66.3% from approximately HK$30,958,000 in 2020.

About Wai Chi Holdings Company Limited (Stock Code: 1305.HK)

Wai Chi Holdings Company Limited is an established LED products manufacturer focusing on producing LED backlight and LED lighting products on an OEM and ODM basis. Equipped with comprehensive production facilities in Shenzhen, Huizhou and Yichang in the PRC, the Group is capable of handling the requisite production procedures (including product design, mould production, mass production and quality control and maintenance) for LED backlight products and LED lighting products. The Group recently expanded its business into the semiconductor memory chips filed to capture the growing demand in the market. The Group was listed on the Main Board of The Stock Exchange of Hong Kong Limited in November 2014 and its stock code is 1305.HK.

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