EForce : SUPPLEMENTAL INFORMATION RELATING TO THE FURTHER EXTENSION OF LONG STOP DATE IN RELATION TO THE ACQUISITION OF THE ENTIRE EQUITY INTEREST IN SHENZHEN QIANHAI CITIC HUATENG INDUSTRIAL CO., LTD.

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eFORCE HOLDINGS LIMITED

意 科 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock code: 943)

SUPPLEMENTAL INFORMATION RELATING TO THE

FURTHER EXTENSION OF LONG STOP DATE

IN RELATION TO

THE ACQUISITION OF THE ENTIRE EQUITY INTEREST IN SHENZHEN QIANHAI CITIC HUATENG INDUSTRIAL CO., LTD.

Reference is made to the announcement of eForce Holdings Limited (the "Company") dated 7 July 2019 and the circular of the Company dated 18 September 2019 (the

• Circular") in relation to, among other things, the acquisition of the entire equity interest in Shenzhen Qianhai Citic Huateng Industrial Co., Ltd., and the announcements of the Company dated 30 December 2019 and 19 February 2020 (the "Announcements") in relation to the extension of the Long Stop Date. Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Circular.

As disclosed in the Announcements, as additional time is required for the fulfillment of certain conditions precedent to the Acquisition Agreement, on 19 February 2020, the parties to the Acquisition Agreement entered into an extension letter to further extend the Long Stop Date to 31 March 2020 (or such later date as the Purchaser and the Vendor may agree in writing).

The Company wishes to further inform the Shareholders that, as at the date of this announcement, (a) conditions (ii), (iii), (v) and (xviii) as set out in the Circular have been fulfilled; and (b) conditions (i), (vii), (viii), (ix), (x), (xi), (xii), (xiii), (xiv), (xv) and (xvi) as set out in the Circular can only be fulfilled at Completion and the Company does not expect to encounter any impediments in fulfilling these conditions. In essence, these conditions are expected to be fulfilled once the Reorganisation is completed.

• For identification purpose only

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The remaining conditions (iv), (vi) and (xvii) as set out in the Circular, which are related to the Reorganisation, have not been fulfilled as at the date of this announcement. The delay in fulfillment of these conditions is mainly due to the prolonged time taken for releasing the pledge on the Dongguan Project Company, which involves various procedures in different governmental departments in the PRC. These procedures have taken longer time to process than originally expected and it missed the original Long Stop Date of 31 December 2019. Accordingly, the Long Stop Date was first extended to 29 February 2020. However, due to the outbreak of the coronavirus epidemic in the PRC, many businesses in the PRC, including the operation of the governmental departments, have been suspended and/or slowed in processing, resulted in the parties not able to complete the procedures for releasing the pledge. Therefore, these conditions are yet to be fulfilled.

In light of the aforesaid outbreak in the PRC, the Company is unable to ascertain with certainty the estimated timing for the businesses in the PRC to resume to normal and the date of completing the procedures for releasing the aforesaid pledge. However, the Company is given to understand that the various governmental departments in the PRC gradually resumed to routine recently, the Company is hopeful that business will resume to normal as soon as possible in March 2020. Therefore, the Long Stop Date has been extended to 31 March 2020 which is considered to be reasonable.

The Directors are of the view that the further extension of the Long Stop Date is solely due to the outbreak of the coronavirus epidemic in the PRC, which has brought to a standstill of the government administration after the Chinese New Year. In the circumstances, the Directors are of the further view that such extension does not constitute a material variation of the terms of the Acquisition Agreement nor a material delay in the Completion.

By order of the Board

eForce Holdings Limited

Liu Liyang

Executive Director and Chief Executive Officer

Hong Kong, 6 March 2020

As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Leung Chung Shan, Mr. Tam Lup Wai, Franky, Mr. Liu Liyang and Mr. Chan Tat Ming, Thomas; one non-executive Director, namely, Mr. Lim Kim Chai, J.P.; and three independent non-executive Directors, namely Mr. Hau Chi Kit, Mr. Leung Chi Hung and Mr. Li Hon Kuen.

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