Yangtzekiang Garment : JOINT ANNOUNCEMENT PLANNING APPLICATION IN RELATION TO 20-24 TAI YAU STREET IN SAN PO KONG

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.

長江製衣有限公司	YGM 貿易有限公司
YANGTZEKIANG GARMENT LIMITED	YGM TRADING LIMITED
(incorporated in Hong Kong with limited liability)	(incorporated in Hong Kong with limited liability)
(Stock Code: 00294)	(Stock Code: 00375)

JOINT ANNOUNCEMENT

PLANNING APPLICATION IN RELATION TO

20-24 TAI YAU STREET IN SAN PO KONG

This announcement is jointly and voluntarily made by Yangtzekiang Garment Limited and YGM Trading Limited (collectively the "Companies").

BACKGROUND

Reference is made to the joint announcement of the Companies dated 13 September 2016, in which the Companies announced, among other things, that they will explore the feasibility of rebuilding the industrial buildings on certain sites owned by the Company (the "Sites"). Details of the Sites are set forth below:

Location	Owner
22-24 Tai Yau Street, San Po Kong,	Yangtzekiang Garment Limited
Kowloon, Hong Kong
20 Tai Yau Street, San Po Kong, Kowloon,	Luk Hop Garments Limited
Hong Kong	(a wholly-owned subsidiary of YGM Trading
	Limited)

Currently, the principal offices, factories and warehouses Companies are situated at the Sites.

The Companies wish to inform their shareholders that on 30 August 2019, an application was submitted to the Town Planning Board in Hong Kong for permission to relax the plot ratio of the Sites for developing non-polluting industrial building(s) of floor area of approximately 35,757 sq. m (the "Planning Application"). The Town Planning Board published the Planning Application for comments on 29 October 2019. However, the Planning Application is still at a preliminary stage, and as at the date of this announcement, the Companies have not received any formal approval from the Town Planning Board in relation to the Planning Application and have not been informed of the conditions to which any such approval may be subject.

The directors of the Companies have not yet decided on any specific plan to rebuild or redevelop the Sites, nor have the Companies entered into any negotiation or agreement with any person or made any capital commitment in connection thereof. Accordingly, the redevelopment of the Sites may or may not proceed.

The Companies will continue to evaluate the various possibilities to unlock the potential value of the Sites, and will make announcement in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) when appropriate.

Shareholders and potential investors of the Companies are advised to exercise caution when dealing in the securities of the Companies.

By order of the board of directors	By order of the board of directors
Yangtzekiang Garment Limited	YGM Trading Limited
Chan Wing Fui, Peter	Chan Wing Sun, Samuel
Chairman	Chairman
Hong Kong, 1 November 2019

As at the date of this announcement, the board of directors of Yangtzekiang Garment Limited comprises seven executive directors, namely Mr. Chan Wing Fui, Peter, Mr. Chan Wing Kee, Mr. Chan Wing To, Madam Chan Suk Man, Mr. Chan Wing Sun, Samuel, Madam Chan Suk Ling, Shirley and Mr. So Ying Woon, Alan and four independent non-executive directors, namely Mr. Lin Keping, Mr. Choi Ting Ki, Mr. So Stephen Hon Cheung and Mr. Li Guangming

As at the date of this announcement, the board of directors of YGM Trading Limited comprises seven executive directors, namely Mr. Chan Wing Sun, Samuel, Madam Chan Suk Ling, Shirley, Mr. Fu Sing Yam, William, Mr. Andrew Chan, Mr. Chan Wing Fui, Peter, Mr. Chan Wing Kee and Mr. Chan Wing To, and four independent non- executive directors, namely Mr. Lin Keping, Mr. Choi Ting Ki, Mr. So Stephen Hon Cheung and Mr. Li Guangming.