Pine Technology : PROFIT WARNING

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.

PINE TECHNOLOGY HOLDINGS LIMITED 松景科技控股有限公司*

(Incorporated in Bermuda with limited liability)

(Stock code: 1079)

PROFIT WARNING

This announcement is made pursuant to Rule 13.09 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 in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

The board of directors (the "Board") of PINE Technology Holdings Limited (the "Company") wishes to inform the shareholders of the Company ("Shareholders") and potential investors that, based on its preliminary review of the unaudited consolidated management accounts of the Company and its subsidiaries (together, the "Group") for the six months ended 31 December 2017 ("1H FY17/18"), the Group is expected to record a net loss in the range of approximately US$1 million to US$2 million, as compared to a net profit of US$1 million in the same period last year.

The anticipated net loss was mainly attributable to a combination of three major factors:

• 1. Decrease in gross profit margin resulted from surging raw material costs and rising labour costs;

• 2. Additional professional expenses incurred for the placing of new shares; and

• 3. Additional general and administrative expenses.

The Company is still in the course of finalising the interim consolidated financial results for the six months ended 31 December 2017. The information contained in this announcement is only based on a preliminary assessment by the Board based on information currently available to it, including the draft and unaudited consolidated management accounts of the Group for the six months ended 31 December 2017 which have not been confirmed, reviewed or finalised by the Audit Committee of the Board and have not been reviewed by the Company's auditors as at the date of this announcement. Shareholders and potential investors are advised to read the interim results announcement of the Company for 1H FY17/18 carefully, which is expected to be released on 26 February 2018.

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

By the order of the Board of

PINE Technology Holdings Limited

Zhang Sanhuo

Chairman

Hong Kong, 15 February 2018

As at the date of this announcement, the executive Directors are Mr. Zhang Sanhuo, Mr. Chan Cheuk Ho and Mr. Chiu Hang Tai; and the independent non-executive Directors are Mr. So Stephen Hon Cheung, Mr. Zhou Chunsheng and Mr. Tian Hong.

* For identification purpose only