Wai Chi : INSIDE INFORMATION - UPDATE ANNOUNCEMENT RELATING TO WINDING UP PETITION AGAINST THE COMPANY

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.

Wai Chi Holdings Company Limited

偉志控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1305)

INSIDE INFORMATION -

UPDATE ANNOUNCEMENT RELATING TO

WINDING UP PETITION AGAINST THE COMPANY

This announcement is made by Wai Chi Holdings Company Limited (the "Company") pursuant to Rule 13.09(1) and (2)(a) and Rule 13.25(1)(b) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)).

Reference is made to the announcements (the "Previous Announcements") made by the Company dated 17 July 2020 and 24 July 2020 respectively, in relation to a petition for the winding up of the Company (the "Petition") filed by Financial Asia Limited (the "Petitioner"). Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those defined in the Previous Announcements.

UPDATE ON THE PETITION

The Company wishes to further update the Shareholders and potential investors of the Company that the Company has filed a summons (the "Application") dated 24 July 2020 to apply for an order to strike out the Petition. The Application was fixed to be heard at 9:30 a.m. on 11 September 2020.

The Company will keep its shareholders and potential investors updated and further announcement(s) will be made by the Company as and when appropriate in relation to any further material development in relation to the Petition and the Summons.

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

By order of the Board

Wai Chi Holdings Company Limited

Yiu Chi To

Chairman

Hong Kong, 4 August 2020

As at the date of this announcement, the executive Directors of the Company are Mr. Yiu Chi To (Chairman), Mr. Chen Chung Po (Chief Executive Officer), Ms. Yiu Kwan Yu, Mr. Chen Wei Wu and Ms. Yong Jian Hui; and the independent non-executive Directors are Mr. Au Yeung Tin Wah, Mr. Chen Kwok Wang and Mr. Ho Chi Wai.

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