Hua Han Health Industry : QUARTERLY UPDATE ANNOUNCEMENT ON THE RESUMPTION PROGRESS

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Hua Han Health Industry Holdings Limited

華瀚健康產業控股有限公司

(Provisional Liquidators Appointed)

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 587)

QUARTERLY UPDATE ANNOUNCEMENT

ON THE RESUMPTION PROGRESS

This announcement is made by Hua Han Health Industry Holdings Limited ("Company"), together with its subsidiaries ("Group") pursuant to Rule 13.09 and Rule13.24A of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to (1) the announcement of the Company dated 7 February 2017 and 28 February 2017 in relation to the appointment of Grant Thornton as the independent third party investigator; (2) the announcement of the Company dated 7 June 2017 in relation to the engagement of ZHONGHUI as the auditors of the Company; (3) the announcements of the Company dated 19 July 2017, 29 December 2017, 31 January 2018, 28 February 2018, 29 March 2018, 3 May 2018, 1 June 2018, 6 July 2018, 1 August 2018, 9 August 2018, 21 September 2018, 9 November 2018, 5 September 2019 and 8 November 2019 in relation to the update on the resumption progress; and (4) the announcement of the Company dated 3 October 2017 in relation to the delay in the publication of the 2016/2017 Annual Results and despatch of the 2016/2017 Annual Report. Unless the context otherwise requires, the capitalised terms used in this announcement shall have the same meanings as those defined in the announcement of the Company dated 8 November 2019.

UPDATE ON THE KEY EVENTS IN FULFILLING THE RESUMPTION CONDITIONS

Investigation Findings

At the time when the Provisional Liquidators were appointed on 3 August 2019, the Company had not provided Grant Thornton with all necessary information and documents in order for Grant Thornton to complete their report. The Provisional Liquidators are continuing with their work to obtain complete and update books and records of the Company and its subsidiaries from various sources.

The Provisional Liquidators are also continuing with their investigation into the affairs of the Company and its subsidiaries. With the benefits of such investigation, the Provisional Liquidators will establish the appropriate way to proceed with the Investigation.

At this stage, the Company is not in a position to realistically estimate when it can publish the investigation findings. Further announcements will be made as and when appropriate.

Publication of the Annual Results of the Company

As described above, the Provisional Liquidators are continuing with their work to obtain complete and update books and records of the Company and its subsidiaries from various sources. The Provisional Liquidators are also continuing with their investigation into the affairs of the Company and its subsidiaries.

At this stage, the Company is not in a position to realistically estimate when the Company can publish the financial results. Further announcements will be made as and when appropriate.

WINDING-UP PROCEEDINGS

As described in the announcement dated 31 July 2019, Haw Par Pharmaceutical Holdings Pte Ltd ("Haw Par") has been substituted as petitioner in place of the Petitioner in the Winding-up Proceedings. A hearing of the petition to wind up the Company presented by Haw Par is scheduled to be heard at 9:30am on Monday, 2 December 2019.

CONTINUED SUSPENSION OF TRADING

Trading in the shares of the Company has been suspended since 27 September 2016 and will remain suspended until further notice.

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

For and on behalf of

Hua Han Health Industry Holdings Limited

(Provisional Liquidators Appointed)

Chan Ho Yin Michael

and

Chi Lai Man Jocelyn

Joint and Several Provisional Liquidators

Hong Kong, 25 November 2019