Ban Loong : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO DISCLOSEABLE TRANSACTION

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.

(incorporated in Bermuda with limited liability)

(Stock Code: 30)

SUPPLEMENTAL ANNOUNCEMENT

IN RELATION TO

DISCLOSEABLE TRANSACTION

Reference is made to the announcement (the "Announcement") of Ban Loong Holdings Limited (the "Company") dated 26 October 2019 regarding the renewal of the Loans in the aggregate principal amount of HK$20 million granted by the Lender to the Borrower constituting a discloseable transaction for the Company. Unless the context otherwise requires, capitalized terms in this announcement shall have the same meanings as defined in the Announcement.

This announcement is made to provide supplemental information on the identity of the ultimate beneficial owner of the Borrower and the Company's credit assessment for the entering into of the Fourth Loan Renewal Agreement.

As disclosed in the Announcement, the Borrower is Yin Fu International Investment Limited, a company incorporated in the British Virgin Islands with limited liability which is engaged in trading of tea, clothing and electronic products. To the best of the knowledge, information and belief of the Directors having made all reasonable enquiry, the entire issued share capital of the Borrower is beneficially owned by Mr. Shi Bing Fu (施並福), a merchant and a third party independent of the Company and its connected persons. Apart from the reasons stated in

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the Announcement taken into account by the Directors when deciding to renew the Loans, the Directors have also taken into account the satisfactory payment records of the Borrower in the past.

By order of the Board

Ban Loong Holdings Limited

Chow Wang

Deputy Chairman & Chief Executive Officer

Hong Kong, 9 December 2019

As at the date of this announcement, the Board of the Company comprises:

Executive Directors:

Mr. Wang Minghui (Chairman)

Mr. Chow Wang (Deputy Chairman & Chief Executive Officer)

Mr. Yin Pinyao

Mr. Chu Ka Wa (Chief Financial Officer)

Mr. Wang Zhaoqing (Chief Operating Officer)

Non-executive Director:

Mr. Fong For

Independent Non-executive Directors:

Mr. Jiang Zhi

Mr. Leung Ka Kui, Johnny

Ms. Wong Chui San, Susan

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