Champion Technology : COMPLETION OF THE DISPOSAL

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CHAMPION TECHNOLOGY HOLDINGS LIMITED 冠 軍 科 技 集 團 有 限 公 司

(Continued in Bermuda with limited liability)

(Stock Code: 92)

COMPLETION OF THE DISPOSAL

The Board is pleased to announce that all the Conditions (save for the termination of contracts with all service providers of the Target which has been waived by the Purchaser) have been fulfilled and completion of the Disposal has taken place on 26 February 2021 in accordance with the terms of the Agreement.

Reference is made to the announcement of Champion Technology Holdings Limited (the ''Company'') dated 9 February 2021 in relation to the Disposal (the ''Announcement''). Capitalised terms used in the Announcement shall have the same meanings as those defined in the Announcement unless otherwise defined herein or the context requires otherwise.

COMPLETION OF THE DISPOSAL

The Board is pleased to announce that all the Conditions (save for the termination of contracts with all service providers of the Target which has been waived by the Purchaser and details of which are set out below) have been fulfilled and completion of the Disposal has taken place on 26 February 2021 in accordance with the terms of the Agreement.

As certain contracts between the Target and its service providers have been retained by the Purchaser at its request, one of the conditions precedent to the Agreement which requires the Target to terminate all the contracts with its service providers has been waived by the Purchaser in accordance the terms of the Agreement.

Immediately after Completion, the Target has ceased to be a subsidiary of the Company.

By Order of the Board

CHAMPION TECHNOLOGY HOLDINGS LIMITED

Wong Man Winny

Chairperson

Hong Kong, 26 February 2021

As at the date of this announcement, the executive director of the Company is Ms. Wong Man Winny; the non-executive directors of the Company are Mr. Liu Ka Lim and Ms. To Yin Fong Cecilica; and the independent non-executive directors of the Company are Mr. Leung Man Fai, Mr. Chan Yik Hei and Mr. Wong Yuk Man Edmand.