Gold Finance : QUARTERLY UPDATE ON RESUMPTION PROGRESS

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.

(Provisional Liquidators Appointed)

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1462)

QUARTERLY UPDATE ON RESUMPTION PROGRESS

This announcement is made by Gold-Finance Holdings Limited (Provisional Liquidators Appointed) (the "Company") pursuant to Rules 13.09 and 13.24A of Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

References are made to the announcements in relation to the quarterly update on resumption progress of the Company dated 16 September 2019, 11 November 2019, 5 February 2020 and 5 May 2020 and the supplemental quarterly update on resumption progress of the Company dated 18 November 2019 (the "Announcements"). Unless otherwise stated, capitalized terms used herein shall have the same meanings as those defined in the Announcements.

Business Operations

As disclosed in the interim report of the Company for the 6 months ended 30 September 2018, the Company is an investment holding company and the principal activities of the Group were (i) investment and asset management services in the People's Republic of China (the "PRC"); (ii) property investment and development in the PRC and (iii) building services in Hong Kong.

As disclosed in the announcements of the Company dated 16 September 2019, 18 November 2019, 5 February 2020 and 5 May 2020, the books and records of the PRC Subsidiaries would only be provided to the Provisional Liquidators after the conclusion of the relevant investigations. To the best knowledge of the Provisional Liquidators, the relevant investigations are still on-going and therefore the relevant books and records cannot be accessed as of the date of this announcement.

Update on Winding-up Petition

At the adjourned hearing of the Winding-Up Petition against the Company held on 11 May 2020, the High Court of Hong Kong ordered that the hearing of the adjourned Winding-up Petition against the Company be further adjourned to 2 November 2020.

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Update regarding Resumption Guidance

The Provisional Liquidators contacted various parties regarding the possibility of restructuring the Group and have had discussions with those parties who indicated a willingness to pursue their initial interest in a restructuring. However, so far, no restructuring proposal has been received and no formal agreement has been entered into.

A further announcement will be made by the Company to update the shareholders of the Company and the public on any development, if and when appropriate.

Continued Suspension of Trading of the Shares

Trading in the shares of the Company has been suspended since 9:00 a.m. on 6 May 2019. Trading in the Shares will remain suspended pending fulfilment of the resumption guidance as disclosed in the announcements of the Company dated 8 May 2019, 5 July 2019 and 24 July 2019 and any supplement or modification thereto.

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

For and on behalf of

Gold-Finance Holdings Limited

(Provisional Liquidators Appointed)

Lai Kar Yan (Derek)

Ho Kwok Leung Glen

Yip Wa Ming (Ben)

Joint and Several Provisional Liquidators acting as agents without personal liability

Hong Kong, 5 August 2020

On the basis of the information available from the previous announcements made by the Company, the Board comprises Mr. Wei Jie and Ms. Xu Li Yun as executive directors.

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